Since Realtors like nothing more than eating, especially if someone else is paying or it's a good deal, I thought I'd mention San Diego Restaurant Week is happening twice in 2008...that's great news. Now in its fourth year as San Diego County's largest and most successful dining event, San Diego Restaurant Week was launched with the intention of spotlighting the city as a premier dining destination.
Wouldn't it be nice if we could spotlight Carlsbad and Oceanside as having fine dining too? Encinitas is right next door and they are able to produce about 7 restaurants to participate, while Carlsbad and Oceanside could only muster 1 each: BlueFire Grill at the La Costa Resort in Carlsbad and Vigilucci's Osteria in downtown Oceanside. Both cities possess a population at least as big as Del Mar or Encinitas, but the presence of quality dining experiences seems somewhat unfulfilled.
Don't you think places like West or Tuscany or Tommy V's or any of the Four Seasons Aviara restaurants would want to expand their horizons? Would it hurt the Cuban Restaurant in Oceanside(Azafran) to try and get it's name out there?
If you think we could do better, I encourage you to help me launch a blog site aiming to put North San Diego County on the map for all that it has to offer. I want to know what you think is North County's Best...whether it's for food, shopping, hiking, beaches, services, schools, etc feel free to contribute at http://nsdbest.blogspot.com/
The inventory of Active listings in Oceanside's Rancho Del Oro tract home community of about 1700 homes currently sits at about 48 single family detached homes. In August of 2007, that number was about 80 and for Jan-May 2007 it stood at about 55 homes, when sales were brisk with prices steady. This community is considered mid-priced within Oceanside and gives a good indication of the overall health of the market.
Many sellers have taken their homes off of the market due to the holiday season. However, if those sellers decide to wait out this market, or have turned their homes into rental properties, this lower inventory level can help stop the freefall of prices we saw August to November.
For much of Oceanside, the bank owned properties(REO) are controlling the market. Short sale listings are prevalent, however, most do not result in actual sales.
My feeling is the lower priced Oceanside homes(under $450,000) may see another 10% price drop through 2008. As the price of the home gets higher, the drop in value becomes less due to less volume of distressed property sales. Arrowood may still have price pressure due to aggressive tactics from the new home builders still present there.
I will keep a close watch on market activity over the next few months to gauge whether we may have hit bottom yet. If you are also interested in keeping tabs for yourself or potential buyers, just let me know, and I will put you on my market analysis distribution list.
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