Christopher Anderson

This quarterly San Diego County Home Value Report is divided into two segments-condos and single family homes. Here's the raw data:

Average Price of Condos/Townhomes Sold in June: $275,342
Average Days On Market: 82
Percentage Change in Price From Last Month: +4.36%
Percentage Change in Price From Last Year: +5.45%

Average Price of Single Family Homes Sold in June: $489,588
Average Days On Market: 71
Percentage Change in Price From Last Month: -3.26%
Percentage Change in Price From Last Year: -4.37%

Notes:
Since January, condos are up 18.54%. This is a major jump in the segment of the market that has been hit hardest by the downturn. It appears that condos may be poised for an early rebound, while single family homes strive for stability.

This quarterly San Diego County Real Estate Breakdown is divided into two segments-condos and single family homes. Each segment is divided into three pricing groups to illustrate the differences in supply and demand and various pricepoints throughout the County. Here's the raw data:

Number of Condos Sold between START DATE - END DATE (remember 6 months)
<$200,000: 2,473 Monthly Average: 412
$200,000 - $400,000: 2,031 Monthly Average: 338
>$400,000: 703 Monthly Average: 117

Number of Active Condo Listings
<$200,000: 1,082 Months of Inventory: 2.62
$200,000 - $400,000: 1,327 Months of Inventory: 3.92
>$400,000: 1,093 Months of Inventory: 9.32

Number of SF Homes Sold between START DATE - END DATE (remember 6 months)
<$500,000: 7,249 Monthly Average: 1,208
$500,000 - $800,000: 1,935 Monthly Average: 322
>$800,000: 1,135 Monthly Average: 189

Number of Active SF Home Listings
<$500,000: 4,282 Months of Inventory: 3.54
$500,000 - $800,000: 1,923 Months of Inventory: 5.96
>$800,000: 6,089 Months of Inventory: 32

A Buyer's Market is characterized as an overabundance of supply in relation to demand. In my opinion, a Buyer's Market occurs when there is at least 8 months of active inventory listed on the MLS.

A Seller's Market is characterized by high levels of demand in relation to supply. In my opinion, a Seller's Market occurs when there is at most 4 months of active inventory listed on the MLS.

Stability is characterized by a steady balance of supply and demand. In my opinion, stability occurs when there is between 4 months and 8 months of active inventory listed on the MLS.

Data Analysis . . . Drum roll please:

Condos <$200,000: Seller's Market
Condos $200,000 - $400,000: Seller's Market
Condos >$400,000: Buyer's Market
SF Homes <$500,000: Seller's Market
SF Homes $500,000 - $800,000: Stable Market
SF Homes >$800,000: Extreme Buyer's Market

Notes About the Findings:

The data demonstrates what we've been seeing for about two years now. San Diego Real Estate has split into three market segments. Entry level housing is in high demand, and in most instances prices are stable or slowing rising. This segment will be the first to rebound from the housing slump. Second homes have a bit of a drop off, but there is still plenty of demand to create stability. Prices in this segment of the market are either stable or slightly decreasing in most areas. Expect this segment of the market to stabilize over the next year or two, and rebound a year later. High end homes are suffering from a very little demand. Prices are continuing to fall in most areas, and they probably will continue this trend for at least another year or two, followed by a year or two of stability.

A brief introduction to the Blog and its host

Hello! My name is Chris Anderson. I'm a San Diego native and local REALTOR. I've been in the business full-time since 2005, and I finally have the time required to start up my own blog. More importantly, I feel I have the experience needed to make this blog worthwhile to both agents and consumers. Please check out my website at www.SDHomeSalesOnline.com and let me know what you think. You're also welcome to friend me on Facebook at http://www.facebook.com/ChrisAndersonREALTOR, and follow me on Twitter at http://twitter.com/ChrisAndersonSD.

My Mission

To provide my clients with a positive buying or selling experience by rendering professional service with a personal touch, by representing their interests as if they were my own, by adapting my approach to meet the unique needs of my clients, and by integrating traditional methods with modern tactics and the technology of tomorrow.

Purpose of the Blog

This blog is going to be about 80 - 90 percent consumer oriented, but I will have some useful articles for agents as well. The content of the blog will be as follows:

• Monthly market updates with sales data to show how prices have moved.
• Quarterly absorption rate statistics at different pricepoints to differentiate which segments of the market are currently "buyer's markets," and which are "seller's markets."
• Weekly consumer-oriented articles geared toward helping buyers and sellers navigate our rapidly changing industry.
• Lessons learned from client interactions.
• Lessons learned from continuing education classes.
• Summary of and links to insightful news articles.
• Useful referrals to trusted service providers.
• Special "bargain buy" property alerts.
• Special "must-see" property alerts.
• Our new listings.
• Our closed sales.
• Client testimonials.
• New services.
• New REALTOR designations earned.

About Chris

I was born and raised in San Diego. I graduated as a salutatorian from Patrick Henry High School where I was on the varsity tennis team. After High School I decided to attend SDSU where I was accepted into the Honors Program. At SDSU I volunteered in multiple organizations; I served as Community Service Chair for both the Residence Hall Association and Mortar Board Honor Society. I also served as Treasurer, Fundraising Chair, Membership Chair, and Lieutenant Governor for the Circle K Club. Using the additional credits I had earned in High School, I graduated from SDSU with a degree in Business Management in just three and a half years.

Since earning my Real Estate License in 2005 I have experienced success as a Sales Agent, a Loan Officer, a Closing Manager, and a team leader. I've since given up loans, but my experience as a Loan Officer has proven to be invaluable. My overall understanding of the lending industry, the loan process, and lender lingo allows me to stay one step ahead of my clients' loans, bridge the communication gap between Loan Officers and Buyers, prevent loan/closing problems, and protect Buyer deposits. Currently I represent both Buyers and Sellers throughout San Diego County. I work conventional sales, short-sales, foreclosures, relocations, investment purchases, and I've had great experiences working with military buyers.

I do have a number of strengths. My business degree gives me a considerable upper hand in understanding contracts and in negotiations. I pride myself on my analytical skills, my organization, and my communication. I also consider myself to be an out-of-the-box thinker. I like to combine traditional strategies with new ideas and technologies. I recognize that every house is different, and so is every client. Because of that, I try to stay flexible and tailor my approach to the specific needs of my Buyers and Sellers.

Personally, I grew up in Del Cerro. I moved to the college area when I was at SDSU, then rented in La Mesa after I graduated. Currently I own a house in San Carlos, and I'm loving the neighborhood. I hike Cowles Mountain all the time, and I try to get in a run at Lake Murray at least once a week.

I have a wonderful girlfriend named Chrissy and a crazed Westie named Cody. We love taking Cody to Wells Park in El Cajon, Fiesta Island, and Rancho Bernardo Park. Hopefully he'll calm down in another year or two.

I consider myself to be a bit dry and sarcastic. I'm a hardcore bowler (usually in the 200's) and I'm in a league with some friends at Parkway Bowl in El Cajon. I love playing golf and softball. I'm a huge fan of Aztecs Men's Basketball and Football, the Chargers, and the Padres. I also love poker, card games, and board games. I consider myself an amateur bartender . . . my specialties are Mojitos, Cucumber Collins', Oatmeal Cookies, Sgroppinos, and Strawberry Caipirinhas.

I hope this has shed some light on both the blog and its author. As new articles come out, please feel free comment, and ask questions, and repost any entries I've made. Feedback is always welcome, especially in the form of flattery.

Warmest Regards,
Chris

OK, so I've been busy this weekend. We just closed Escrow on the new house and I've been working like a mad man trying to get the place ready for move in next Saturday. I've already done the demo work, patching, and painting prep. Now I need to prime, paint, install new vents, install new plate covers, re-attach everything I took down, clean, and of course pack. Next Saturday I'll officially be a San Carlos resident!

1 new listing hit the market today. I'll try to get in and report back to you as soon as I can. Until then, here's a quick property summary from the MLS:

6877 Caminito Mundo # 31, San Diego, CA 92119
List Price: $290,000
Condo Info: Woodlands, FHA Approved, $330 Monthly HOA Fees
2 BR, 2 Full Baths
1,044 Sq. Ft.
Built in 1980
Looks to be clean and moderately upgraded

4 listings went into pending status from active status today. Unless the buyers fails to perform, these properties are no longer available. Here's a quick property summary from the MLS:

8171 Beaver Lake Dr., San Diego, CA 92119
$399,000
3 BR, 2 Full Baths
1,216 Sq. Ft.
Built in 1960
FULL PROPERTY SUMMARY

7146 Ballinger Ave., San Diego, CA 92119
List Price: $415,000 - $440,000
4 BR, 2 Full Baths, 1 Half Bath
1,404 Sq. Ft.
Built in 1966
FULL PROPERTY SUMMARY

6323 Lake Albano, San Diego, CA 92119
$449,000
4 BR, 2 Full Baths
1,275 Sq. Ft.
Built in 1968
FULL PROPERTY SUMMARY

6957 Regner Rd., San Diego, CA 92119
List Price: $445.000
4 BR, 2 Full Baths, 1 Half Bath
1,479 Sq. Ft.
Built in 1963
FULL PROPERTY SUMMARY

2 listing were reduced in price. Here's a quick property summary from the MLS:

6650 Tuxedo Rd, San Diego, CA 92119
Listed at $559,000
4 BR, 2 Full Baths
2,000 Sq. Ft.
Built in 1980
FULL PROPERTY SUMMARY

8835 Whiteport, San Diego, CA 92119
$399,000
4 BR, 2 Full Baths
1,404 Sq. Ft.
Built in 1957
FULL PROPERTY SUMMARY

MLS Info: Information taken directly from the MLS (not guaranteed accurate)
Address: 7046 Jackson Dr., San Diego, CA 92119
List Date: 6/9/09
List Price: $445,000
BR/BA: 4 BR, 2 Full Baths
Structure Size: 1,479 Sq. Ft.
Lot Size: 8,700 Sq. Ft.
Stories: 1
Year Built: 1963
Parking: 2 Car Garage - Attached
Additional Features: AC

Notes: Opinions about the property from my personal visual inspection
-Very busy street with moderate street noise
-Poor curb appeal
-Well secured - front courtyard with security gate
-Large cement side yard
-Large back yard with BIG covered deck built for entertaining
-Newer roof
-Patio enclosure addition - permits unknown
-Clean tile flooring throughout
-Remodeled kitchen with corian counters and new cabinets, but appliances are older
-Raised ceiling
-Beautiful fireplace surround
-Big master but limited bath and closet space
-LOTS of storage
-Walls and ceilings have been textured and painted
-House shows a little dark
-Attached 2 car garage with laundry and direct access to the house
-Open floorplan

Comps: Sales data taken from the MLS and adjusted to estimate value

7912 June Lake Dr., San Diego, CA 92119
Sold on 8/4/09 for 419,000
3 BR, 2 full baths (+$5,000)
Superior neighborhood and quiet street (-$20,000)
1,440 sq. ft. (+$3,900)
Smaller lot (+$10,000)
No patio enclosure (+$10,000)
Inferior condition (+$10,000)
View (-$10,000)
ADJUSTED VALUE: $427,900

8303 Lake Gaby Ave., San Diego, CA 92119
Sold on 8/28/09 for $375,000
3 BR, 2 full baths (+$5,000)
Superior neighborhood and quiet street (-$20,000)
1,452 sq. ft. (+$2,700)
Smaller lot (+$10,000)
No patio enclosure (+$10,000)
Inferior condition (+$10,000)
No AC (+$5,000)
ADJUSTED VALUE: $397,700

8163 San Carlos Dr., San Diego, CA 92119
Sold on 7/6/09 for $400,000
3 BR, 2 full baths (+$5,000)
Superior neighborhood and quiet street (-$20,000)
1,579 sq. ft. (-$10,000)
No patio enclosure (+$10,000)
ADJUSTED VALUE: $385,000

AVERAGE ADJUSTED VALUE: $403,533

Pricing:
The street itself is the major deterrent. It also isn't a very warm-feeling house (it's tiled throughout and there isn't much natural lighting). Over 1,400 square feet in good condition is tough to find in San Carlos for under $400,000, so I'll give the adjusted average the benefit of the doubt. This one might be tough to sell.

I'd feel comfortable with a price anywhere between $395,000 and $405,000.*

*This estimate is my opinion based on a visual inspection of the property, sales data, regional knowledge, and professional expertise. While I believe my estimate to be accurate, it is only a professional opinion.

**All pictures were taken by me at my visual inspection. None were copied from the MLS or any other source.