Rancho Santa Fe, CA

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Eleven Rancho Santa Fe real estate listings closed in January 2010 per the Sandicor MLS. All of the eleven were detached homes, ranging in price from $1,225,000 to $7,800,000. The highest sale price per square foot was $604.67/sf, and the lowest was $302.48/sf.

• One of the homes sold for $1,395,000 less than the list price.
• All eleven sellers/listing agents offered a commission to the buyer's agent.
• Nine of the eleven transactions had both parties represented by a different agent (a seller's agent and a buyer's agent).
• Two of the transactions were transactions in which dual agency possibly occurred (which means the seller's agent possibly also represented the buyer). Actually, all we know from Sandicor is that the listing agent is also listed as the buyer's agent. Whether or not the real estate agent acted as a dual agent or only as an agent for the seller isn't disclosed.
• Eight of the eleven closed Rancho Santa Fe real estate listings were located in a neighborhood called Covenant (or The Covenant).
• Two were in Fairbanks Ranch. One was in Del Ray Estates.
• The largest lot was larger than than 4 acres.
• The smallest lot was possibly as small as 0.25 acre.

What's currently for sale in Rancho Santa Fe?

• There are currently 217 Rancho Santa Fe real estate listings for sale in the 92067 zip code.
• These 217 listings range in price from $795,000 to $29,900,000.
• 214 of the 217 Rancho Santa Fe real estate listings are detached homes.
• Eight of the 217 listings are listed as short sales.
• Currently, there are 17 properties listed as "pending" in Sandicor, ranging in price from $845,000 to $7,995,000.
• There are also 12 listings marked as "contingent." Look for a future post from me that explains what "contingent" means in Sandicor terms.

Search for Rancho Santa Fe real estate listings on our website at globella.com.

All date reported in this post was taken from Sandicor on 2/4/2010.

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As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decisionregarding what to do with regard to buying a home in Rancho Santa Fe, or selling your Rancho Santa Fe home.

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky.

READ MORE: Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego

Here is a summary of the Rancho Santa Fe real estate market for December 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.

There was a minor change in the number of homes sold in Rancho Santa Fe in December compared to the prior month, and average sales prices rose across the board. As is common in expensive communities, the marketing time remains fairly high but dropped, on average, for detached home.

As of the end of December there were 8 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed by the lenders), 1 less than last month. Until approved these homes are considered active and, thus, are included in the Active statistics below.

As of December 2009 there were 282 Ranch Santa Fe homes for sale (97% of these are detached), an 18% decline from November. This represents an inventory of 7.3 months for attached homes (a decline from November), but 22.1 months for detached homes at the current rate of sales (based on a 6-month period), which is, however, down from 28.9 months in November, which had dropped from both October and September.

Fewer Rancho Santa Fe homes came on the market in December, 18 as opposed to 29 last month, with 9 homes going pending during the same period, compared to 10 last month.

While higher end homes are selling in the Rancho Santa Fe real estate market (relative to their average price), all the sales thus far this year are under $10 million. There are currently 15 homes on the market in the $10 to $30 million range, some of which have been on the market more than 1 year and 2 for well more than 2 years.

READ MORE: How Important is Inventory when Buying or Selling? Very!!

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know.

READ MORE:

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for November 2009

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for October 2009

Ranch Santa Fe Real Estate Market Report for September 2009

Rancho Santa Fe Real Estate Market Report for August 2009

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If I can provide more information about Rancho Santa Fe real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2010 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits

Rancho Santa Fe California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.

November 10th, 2009

Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone? We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.

Understanding the overall process is the key, and here is how the process goes as an overview:

Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify. The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually gives the homeowner 90 days to come current on the amount they are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these options often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Rancho Santa Fe and actually search all Pre-Foreclosures in Rancho Santa Fe for free click the yellow map.

Foreclosure Sale (Also known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, these days this process is delayed most of the time. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this area, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Rancho Santa Fe and Search upcoming properties scheduled for Foreclosure click the yellow map below.

Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great option for an investor because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Rancho Santa Fe and search all available inventory click the yellow map below.

Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, that doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. This makes Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Rancho Santa Fe and search available inventory click the yellow map below.

We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Rancho Santa Fe click here.

We also attend the Foreclosure Auctions for San Diego on a weekly basis and track virtually every Foreclosure property in San Diego County and would be happy to talk with you about your needs further.

We Look forward to hearing from you!

The latest data and sales statistics were provided by Foreclosure Radar.