Lela Hankins, CDPE, CRS, e-PRO, GRI

I often have buyers tell me, "Well, it's a buyer's market, I can ask for xyz in terms of repairs or credit and get it." Or, "Let's offer $20,000 under list, I think they'll take it." There are some indicators that it is a buyer's market when looking at inventory or days on market. However, real estate is local if nothing else. And even in each local market, we are seeing micromarkets develop.

We're telling buyers now, that the list price is a guideline, not absolute, and sometimes not even realistic. In fact, in many homes recently, we've seen the seller, often a bank, put the home on substantially below the market value. What happens next? Poof!!! Multiple offers in a weekend -- back to the market we saw in 2004. We've seen bank owned homes in relatively good condition, priced below market, receive as many as 23 offers in 5 days. From what that listing agent told me, some offers were $75,000 more than the $270,000 asking price.

We have seen some investors come in with all cash for properties listed in the $180,000 range, blowing out the competition by bidding over $210,000. List price and market value are sometimes not at all similar. It really is essential to have a good handle on each micro market you are bidding in.... it varies by price range and neighborhood.

Interestingly enough, we are seeing mixed activity on short sales. Some are seeing lots of offers, particularly when priced below the apparent market value, and others seem to languish indefinitely with the listing agent systematically dropping the price $500 every two days on the market.

One maxim continues to hold true -- homes that show well and are price right, move the fastest.

It's rare that my husband and I can take time off together since we are both licensees, but when we do, the San Diego Wild Animal Park is a favorite destination. We escaped for a couple of hours yesterday and enjoyed some rare treats -- the new Sumantra tiger cubs could be seen frolicking in the distance. In this photo, you see a lioness lounging lazily at "Lion Camp." We have season passes so that we can pop in on short notice and not feel badly if we can't stay all day. However, ticket prices are very reasonable at only $35. I do recommend packing your own food, though. The Park's restaurants always smell wonderful, but our experience has been that the food smells much better than it tastes!

Although I am an Idaho native, I do enjoy living in the San Diego area now. The time spent harvesting flower seeds out of the family flower garden must have influenced my lifelong love of gardening. Each year for Halloween, my cosmic orange cosmos are at their showiest. The vibrant cosmos are winding down their growing season. Now, as we ready for the Christmas festivities, the Poinsettia we planted a few years ago from a holiday potted plant, is beginning to turn some of its leaves into that show-stopping brilliant pink. Our weather is mild enough, that the Poinsettias grow outside year round.

In the "group" shot of the cosmos, you will see one of my favorite felines, Cowboy, casually meadering along the fence top -- something he does well when I am out gardening. I have to credit my husband Steve with the close up of the bee. Enjoy!

Market Update for Twin Oaks Valley Ranch, November, 2008

Call Lela today for a free market evaluation of your home!

Call Steve today for expert assistance in locating your dream home!

Active Homes on the market List Price

Prestwick Ct. 4 bed / 3 bath 1902 esf $ 407,000

Turnberry 4 bed / 3 bath 2447 esf $499,900

Landmark 4 bed / 3.5 bath 2754 esf $ 534,900

*Lancashire 4 bed / 3 bath 2869 esf $ 575,000

Pending (Homes under contract) List Price

Peach Way 4 bed / 3.5 bath 2158 esf $ 375,000

Kentfield Dr. 3 bed / 2 bath 1656 esf $ 349,900

Lawnsdale 4 bed / 3 bath 2296 esf $ 400,000

Peach Way 3 bed / 3.5 bath 2328 esf $ 439,000

Crownview Ct. 4 bed / 3 bath 2869 esf $ 550,000

Sold (Year to Date) Date Sold Sold Price

Turnberry 3 bed / 2 bath 1762 esf 10/31/2008 $ 388,000

Kentfield 4 bed / 2.5 bath 2158 esf 8/18/2008 $ 470,000

Turnberry3 bed / 2 bath 1762 esf 8/15/2008 $ 475,000

Muirfield 3 bed / 2 bath 1658 esf 7/09/2008 $ 375,000

Lancashire 4 bed / 3 bath 2754 esf 6/16/2008 $ 530,000

Peach Way 4 bed / 3.5 bath 2095 esf 6/13/2008 $ 415.000

Berkshire 5 bed / 3 bath 2938 esf 6/06/2008 $ 579,000

Chesterfield 4 bed / 3 bath 3172 esf 6/02/2008 $ 555,000

Pebble Beach 4 bed / 3 bath 2084 esf 5/27/2008 $ 430,000

Turnberry 4 bed / 3 bath 2447 esf 5/09/2008 $ 510,000

Bandak 4 bed / 3 bath 2938 esf 4/11/2008 $ 533,000

Golf Glen 4 bed / 3 bath 2546 esf 4/04/2008 $ 470,000

Medinah 5 bed / 3 bath 2447 esf 3/27/2008 $ 559,000

*Crownview 4 bed / 3 bath 2869 esf 3/05/2008 $ 695,000

Peach Way 4 bed / 3 bath 2313 esf 2/12/2008 $ 460,000

*Crownview 5 bed / 3 bath 3172 esf 1/15/2008 $ 730,000

*These neighbors trusted Lela & Steve to list, market and sell their home!

In San Marcos, there are 323 detached homes for sale currently - Call Lela or Steve whenever you need help sorting through the real estate maze!

RE/MAX Ranch And Beach

From the Desk of Lela Hankins and Steve Hall

Broker Associate and Sales Associate

San Marcos Homeowners and Residents

Direct Anytime: Lela - 760.591.0020 ; Steve - 760.809.1637

Lela@LelaSellsSanDiego.com; Steve@HankinsAndHall.com

Check out MLS Listings at www.LelaSellsSanDiego.com

A few weeks ago I had the chance to participate for the first time in Vistans ROC! It is a volunteer project in its 10th year in Vista, California. Each year, a neighborhood is selected by the City of Vista that needs some sprucing up. This year, twenty-seven homes benefited from the help of OVER EIGHT HUNDRED volunteers! The volunteers painted the exterior of the homes, landscaped, removed trash. Volunteers came from local service organizations, business groups, retail stores, schools, and churches. In this photo, several members from the North San Diego Association of Realtors (in the blue aprons) worked on the house in the background. The ones in pink tee shirts are also affiliated with the local Women's Council of Realtors. It is amazing to see a team of 800 volunteers come together to create such an overwhelming change in a neighborhood. The owners seemed truly grateful and appreciative of the efforts. Special thanks to Letty Perez and Loretta Simonet for serving as captains of our group. We had the honor of working on two homes in Vista.