Mira Mesa Monitor

User Forum Topic
Submitted by sdrealtor on January 20, 2021 - 1:42pm

Im going to start tracking the SFR market here as it seems more of a bellweather and is very interesting. Early 2020 the starter 3BR homes were low to mid 600's but by late Summer market was low to mid 700's with every decent home hotly contested. The majority of the homes were built around the same time, around the same size by Pardee. Its as homogenous a market I can think of for SFR's with differences mostly attributable to which of the 4 quadrants it falls in and even more so lot size.

Ive got a bunch of friends and past clients there so lets start following it and see where it goes in the land of too many walls and lizards

Submitted by scaredyclassic on July 28, 2021 - 9:17am.

flyer wrote:
Right. Probably more accurate to say, of the choices available to each of us, we're free to spend money on them as we choose. Still a great option, imo.

Right. And it might be even more accurate to say that most have no actual real choice.

Everyone is free to choose actually means rich people get the best options

Submitted by an on July 28, 2021 - 9:30am.

sdrealtor wrote:
Toll shifted away from traditional Spanish/Tuscan in RR but that was a few years ago and planned years earlier than it was built. Inside very modern and no more tuscan. The shift is on
Agree that the shift is definitely happening. Looking at Toll's offering in OC, all their smaller homes are modern and most of the larger home in the exterior are not quite modern and still have traditional roof lines. Their interior is definitely much more open and modern than the outside.

Submitted by sdrealtor on July 28, 2021 - 9:47am.

Yup change takes time and builders are slow to move. It took them a couple decades to dismiss the formal living room despite calls for that in focus groups long before they did. The point is, the modern look is not inferior in the eyes of currrent buyers on the whole

Submitted by Coronita on July 28, 2021 - 10:01am.

sdrealtor wrote:
Yup change takes time and builders are slow to move. It took them a couple decades to dismiss the formal living room despite calls for that in focus groups long before they did. The point is, the modern look is not inferior in the eyes of currrent buyers on the whole

when will the interior charcoal gray look fad go away? :)

Submitted by an on July 28, 2021 - 10:02am.

sdrealtor wrote:
Yup change takes time and builders are slow to move. It took them a couple decades to dismiss the formal living room despite calls for that in focus groups long before they did. The point is, the modern look is not inferior in the eyes of currrent buyers on the whole

100% agree that it's not inferior. It's just different. Like clothing, design I feel like goes in cycle. Modern was popular about 70 years ago and now it's back. Just not exactly the same. I love the new interior layout of minimizing hallways. It makes the house feel much bigger.

I also love the 10' ceilings in the Toll houses vs the typical 9' that the cheaper builders have. That extra feet makes a huge difference.

Submitted by an on July 28, 2021 - 10:17am.

Coronita wrote:
sdrealtor wrote:
Yup change takes time and builders are slow to move. It took them a couple decades to dismiss the formal living room despite calls for that in focus groups long before they did. The point is, the modern look is not inferior in the eyes of currrent buyers on the whole

when will the interior charcoal gray look fad go away? :)


I think this will take a couple more decades, since we're just start to shift away from the brown tone to a gray tone. The popular color tone for kitchen/bathroom now is white/black/gray

Submitted by gzz on July 28, 2021 - 10:34am.

Related anti-great room/living room screed:

https://archive.curbed.com/2018/7/11/175...

I disagree with it partly. I do think the giant great rooms aren't used much and the space is better used for bigger bedrooms and kitchens, but medium size living rooms near the entrance are great. They provide a way to have one 24/7/365 clean room with good furniture for people with pets and children. And also a quiet room for reading and smartphoning.

By the same author:

https://mcmansionhell.com/post/635435396...

Submitted by gzz on July 28, 2021 - 10:46am.

It is kind of jarring to see a new development of close-in detached 2-floor suburban homes street full of cookie cutter modernish houses. Driving home and driving through three streets of these?

https://www.live3roots.com/homes/brio

It looks like something you'd see in the hollywood hills, but it will be in a symmetric row of dozens.

I supposed you'd get used to it, and over time the owners would customize them, but I just don't like it.

Here's another phase that uses three floors that looks fine:

https://www.live3roots.com/homes/aero

I think the issue is the boxy look is space efficient and urban, and doesn't look good in a large two floor suburban development.

Submitted by sdrealtor on July 28, 2021 - 2:18pm.

Just a tip. I wouldn't use one single male 30 or 40 something's wants, needs, likes and preferences as a measuring stick for consumer housing preferences

Submitted by sdrealtor on July 28, 2021 - 3:32pm.

Update time. Strong week for MM, maybe strongest all year.

New listings 10 - back to average listing count

New Pendings of 9 - less on market so pendings drop back down

Thats +1 change

Closed sales at 8. Occasionally see something below 800k but for the most part market is 800K+

Price reductions at 1.

Current inventory at 20 with median price of $868K.

Starting to see more sales close to or above $1M.

Submitted by gzz on July 28, 2021 - 3:43pm.

Wow, did one of your listings end up in the McMansion Hell blog?

I don't have strong views on styles, I just know what's ugly and what's nice, and have a soft spot for Carrara marble. Now this is classy, but became a tear down because it was too small:

https://homesoftherich.net/2016/09/the-m...

Submitted by sdrealtor on July 28, 2021 - 4:13pm.

Lol you have strong views on just about everything which incidentally you seem unwilling to soften on..... ever

Submitted by gzz on July 29, 2021 - 10:51am.

Nah my views on everything discussed here are not strongly held, they may come off that way because they're confidently expressed as a vocational habit.

Submitted by sdrealtor on August 3, 2021 - 5:45pm.

Update time. Another strong week for MM.

New listings 11 - average listing count

New Pendings of 12 - back up

Thats -1 change

Closed sales at 8.

Price reductions at 3.

Current inventory at 18 with median price of $875K.

More sales close to or above $1M. trend continues. SFR sales below 800K evaporating

Submitted by sdrealtor on August 11, 2021 - 1:38pm.

Update time. Another strong week for MM.

New listings 8 -

New Pendings of 9 -

Thats -1 change

Closed sales at 9.

Price reductions at 0. There are some which should be reduced.

Current inventory at 20 with median price of $875K.

MM has become a very orderly market with a very consistent ebb and flow. I would say well over half the current inventory is on the market for 2 weeks plus getting stale sitting overpriced. There are buyers for anything reasonable priced appropriately

Drove through 3 Roots yesterday. Its gonna be a stunning transformation for the area IMO. Looking really impressive to my eyes

Submitted by Coronita on August 12, 2021 - 7:15am.

sdrealtor wrote:
Update time. Another strong week for MM.

New listings 8 -

New Pendings of 9 -

Thats -1 change

Closed sales at 9.

Price reductions at 0. There are some which should be reduced.

Current inventory at 20 with median price of $875K.

MM has become a very orderly market with a very consistent ebb and flow. I would say well over half the current inventory is on the market for 2 weeks plus getting stale sitting overpriced. There are buyers for anything reasonable priced appropriately

Drove through 3 Roots yesterday. Its gonna be a stunning transformation for the area IMO. Looking really impressive to my eyes

the cool part about 3roots is its right at the corridor to this large industrial park of a lot of biotech and medical device companies. Some of them are doing really well especially those supporting covid related testing and research. A few colleagues started working at these companies recently and they are on a hiring binge. Also as good as mobile engineers these days.
Big growth area imho, especially as we see more older and ailing people.

Submitted by an on August 12, 2021 - 10:28am.

Coronita wrote:
the cool part about 3roots is its right at the corridor to this large industrial park of a lot of biotech and medical device companies. Some of them are doing really well especially those supporting covid related testing and research. A few colleagues started working at these companies recently and they are on a hiring binge. Also as good as mobile engineers these days.
Big growth area imho, especially as we see more older and ailing people.
What you're seeing today is only the beginning. A lot of the commercial land around 3Roots will get rezone to allow for even more. https://www.sandiego.gov/sites/default/f...

Submitted by sdrealtor on August 12, 2021 - 10:51am.

Wow that's awesome the amount of planning going on there. Had no idea. The future seems bright here

Submitted by svelte on August 12, 2021 - 11:17am.

gzz wrote:
It is kind of jarring to see a new development of close-in detached 2-floor suburban homes street full of cookie cutter modernish houses. Driving home and driving through three streets of these?

https://www.live3roots.com/homes/brio

It looks like something you'd see in the hollywood hills, but it will be in a symmetric row of dozens.

They are getting ready to do a similar development in San Marcos in the area called North City. It looks a bit claustrophobic to me, but then a lot of new developments do. Guess I'm not the target demographic so doesn't really matter.

Times they are a-changin'.

Submitted by an on August 12, 2021 - 12:15pm.

sdrealtor wrote:
Wow that's awesome the amount of planning going on there. Had no idea. The future seems bright here

I've been sitting in on those meetings and the result essentially is, either do nothing or do A LOT. So I'm thinking the city will go w/ do A LOT. So it'll be very interesting to see this whole area evolve over the next 30 years.

Submitted by sdrealtor on August 12, 2021 - 1:13pm.

The city needs to build more housing. They only have one choice. Its just a matter of when, where and what

Submitted by sdrealtor on August 12, 2021 - 1:14pm.

svelte wrote:
gzz wrote:
It is kind of jarring to see a new development of close-in detached 2-floor suburban homes street full of cookie cutter modernish houses. Driving home and driving through three streets of these?

https://www.live3roots.com/homes/brio

It looks like something you'd see in the hollywood hills, but it will be in a symmetric row of dozens.

They are getting ready to do a similar development in San Marcos in the area called North City. It looks a bit claustrophobic to me, but then a lot of new developments do. Guess I'm not the target demographic so doesn't really matter.

Times they are a-changin'.

Drove past that a week or so ago and holy cow. Lots of earth being moved around there. That university is rapidly expanding and the area will benefit from that on top of everythingalready there

Submitted by sdrealtor on August 19, 2021 - 6:05pm.

Sorry for delay. Just got back from annual old friends trip back to Jersey Shore.

New listings 10 -

New Pendings of 9 -

Thats +1 change

Closed sales at 13.

Price reductions at 1. There are more which should be reduced.

Current inventory at 22 with median price of $875K.

Very stable here and inventory is only building slightly due to a few sellers overshooting on list prices

Submitted by sdrealtor on August 25, 2021 - 9:50am.

New listings 8 -

New Pendings of 9 -

Thats -1 change

Closed sales at 12.

Price reductions at 1. There are more which should be reduced.

Current inventory at 26 with median price of $867K.

Just humming along here. Inventory building slightly due to some that need to but dont reduce. Prices in the 800's completely normalized. Seeing more sales of $1M every week for the bigger nicer homes. Prices have settled down and stabilized at least for now

Submitted by sdrealtor on September 8, 2021 - 9:22am.

New listings 8 -

New Pendings of 10 -

Thats -2 change

Closed sales at 13.

Price reductions at 0. There are more which should be reduced.

Current inventory at 24 with median price of $867K.

We may have already seen peak inventory for the year here

Submitted by sdrealtor on September 8, 2021 - 9:24am.

New listings 6 -

New Pendings of 8 -

Thats -2 change

Closed sales at 8.

Price reductions at 3. Some holdouts slowly coming down

Current inventory at 20 with median price of $857K.

Remarkably stable action with inventory heading into seasonal decline

Submitted by sdrealtor on September 17, 2021 - 2:28pm.

Sorry for late report. Was out of town but ran em before I left

New listings 10 -

New Pendings of 13 -

Thats -3 change

Closed sales at 12.

Price reductions at 2. Some holdouts slowly coming down

Current inventory at 19 with median price of $849K.

Steady as she is

Submitted by sdrealtor on September 21, 2021 - 4:11pm.

New listings 7 -

New Pendings of 10 -

Thats -3 change

Closed sales at 12.

Price reductions at 0.

Current inventory at 20 with median price of $849K.

More than half the actives are over 3 weeks which suggests they are overpriced and need to be reduced

Very steady

Submitted by sdrealtor on September 28, 2021 - 5:31pm.

The model of consistency

New listings 8 -

New Pendings of 9 -

Thats -1 change

Closed sales at 12.

Price reductions at 1.

Current inventory at 18 with median price of $855K

This market looks like it will just keep rolling along at its present pace

Submitted by sdrealtor on October 5, 2021 - 5:18pm.

Again the model of consistency

New listings 9 -

New Pendings of 9 -

Closed sales at 9.

Price reductions at 1.

Current inventory at 17 with median price of $850K

Flippers are jumping on anything they can get in the mid 700's knowing they should be able to sell for 900+ come January with a quick remodel

This market looks like it will just keep rolling along at its present pace. I think prices will be around $50K higher by February and who knows where they go from there

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