Local Zillow Forecasts

I snipped this Zillow forecast (above) in October, 2016.  They expected La Jolla home values to go up 2.1% in 2017, which earned a ‘Very Cold’ label.

The La Jolla ZHVI rose 7% in 2017, so their forecast was a tad conservative.  The index has been dropping lately, but they are expecting values to flatten:

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Other Zillow forecasts – they like Carmel Valley:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

You can find more data here (they predict the U.S. market will be +6.4%):

https://www.zillow.com/home-values/

Flood of New CV Homes

Click on photo to enlarge

Pardee has four new tracts of homes in Carmel Valley. There will be a total of 377 houses here, plus a fifth tract (and the highest-priced), Vista Santa Fe, which is opening in January.

The grand-opening-after-the-pre-opening is this weekend and remarkably they have already sold 3/4 of the homes released for sale.

Prices are $1.6M to $2.4M in Vista Del Mar. Here’s a tour of the Plan 2 model:

Stucco Valley

A good example of today’s market conditions. At first, you would think a bank-owned house in the prime Derby Hill community in Carmel Valley would garner a lot of attention, and sell quickly. But this one isn’t tricked out with extras, and it’s not a canyon lot either.

Like most sellers, they added a little mustard to their list price – but they were on the market for 55 days before finding the buyer:

PHR Toll Brothers

Beginning in the 1980s, Pardee Homes developed almost all of Carmel Valley, and now they are down to the last remaining parcels. For some reason, they sold off 69 prime lots to Toll Brothers, and now plans to go head-to-head with them with their neighboring tract next door.

There was a time when people commented on this blog that PHR was so far out that it was more like Penasquitos Highland Ranch.  But Pardee plowed through the land they’ve held for decades and now they’re down to the last few acres.

Toll Brothers has five floor plans, with two of them being one-story layouts.  The one-story homes range from 4,542sf to 4,765sf, and the two-story plans start at 5,945sf.  Prices range from $1.9 to $3.2 million.  This past weekend was the grand opening, and they have sold seven of the 16 available.

Think the market is tanking?  They had 500+ people attend this weekend.

A video tour of the one-story model:

My New CV Listing

My new listing in Carmel Valley, listed for $1,078,000, and hopefully priced attractively for today’s market by realistic sellers. Open 12-3pm Sat&Sun!

Nice buy in the Del Mar school district and ideal for those who prefer a low-maintenance lifestyle – the yard is right-sized with no houses behind! Hardwood floors, granite-slab kitchen and baths, newer appliances, new roof, new paint, new water heater, crown molding, upstairs laundry room, plus master has big walk-in closet and balcony! Easy 5-min ride to freeway access at I-5 and 56. Priced under the last three sales in area – including next door!




Click on image to see last three sales nearby (Jim sold 2 of 3)

Pin It on Pinterest