Oceanside Real Estate Weblog

Bear Stearns’ Bailout numbers are huge….really huge.

If you are like most of us the recent bail out of Bear Stearns’ was just a passing blip in the never ending river of talking head blather and hype… most of it BS… about real estate, finance and investing. However, a closer look at the magnitude of exposure Bear Stearns’ has in derivatives gives us a prospective about why the bailout was necessary. My mentor and associate Pat Kitano has a great article about this mega event and what it really means.

So with all the hype going on about real estate slumping, tanking and all that in the Oceanside Carlsbad, Vista, San Marcos and Encinitas areas some people actually believe that sellers will be paying buyers to take their property, perhaps giving them a monthly stipend, or arranging a marriage with their daughters and mowing the yard for them until 2020. REALITY CHECK…there are some great buys to be found but don’t miss the boat. According to HomeDex median prices in the North San Diego County Coastal area actually increased about 5% in April. There are homes on the market in the North San Diego County and many other economically stable areas that couldn’t be built for their current asking price. According to some, so called, authorities we are 75% through the sub-prime fiasco. So what! Prices are down, interest rates are low, inflation is rising and what better asset to own than Real Estate? Real Estate is personal shelter, tax shelter, it doesn’t evaporate like a stock can, you can live in it , rent it, insure it so if it burns to the ground it can be rebuilt and underneath is the land value. Real Estate is a tangible asset, not a piece of paper like a Bear Stearns’ derivative.

Posted in Housing economy | 1 Comment »

Some Real Estate Professionals Will Do Anything For Attention

Over the years I’ve always had a picture of myself surfing on my business cards. Call me narcissistic, if you like, and maybe I am ( it’s my great hair). But it seems that I spend a lot of time at the beach. I even have a criteria that my office can be no more than four blocks from the shoreline. So it’s natural that I’ve helped a lot of surfers find homes in the North San Diego Coastal area. I do get teased sometimes for having a surfing picture on my business card but that’s ok, at least people remember it

It’s surprising how entrenched surfing is in the North County Coastal Area and the amazing popularity of living where the sun is almost always shining and there’s a cool breeze coming off the Pacific Ocean. The surfers that live and own homes in the area come from all walks of life and aren’t your typical stereo type party animal surfer dudes. They are Policemen, Firemen, Lawyers, Doctors, Teachers, Accountants, Business Owners and just about any other type of professional. They all have their surfboards ready and will be playing hookey from work the next time there’s a good south swell.

Despite the turmoil taking place in the San Diego County Real Estate market, beach neighborhoods have maintained higher values with every step closer to the sand. People from all over the world make this area their destination to visit and enjoy. And having a vacation home near the beach is very popular for the fortunate.

Welcome to OCEANSIDE.

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Sales Trends San Diego CA

Attached is an ex-script about sales trends in San Diego courtesy of the National Association of Realtors and Yahoo. There are plenty of good buys, but how long will it last? This should give some indication. If you have any questions contact your trusted real estate professional. Chances are their guess is as good as any.
For those waiting for a bottom, consider where else in the world is a better place to live than San Diego County. Also, take into consideration that almost all foreclosures, in that hot segment of the market, sell for 98% of list price. In addition, many of the coastal area foreclosures get multiple offers. So it may be time to let that pent up need for a home along the San Diego Coast express itself. There are some fantastic buys to be found in Oceanside, Carlsbad and Encinitas but you have to be ready. Like my karate Sensi used to say “the time to strike is when the opportunity presents itself”.

Matt Woolsey, Forbes.com

Apr 10th, 2008

Posted in Uncategorized, Real Estate | 1 Comment »