This Avenida Brisa Home is for Sale on the golf course between $1,075,000-$1,175,000.

Via De Las Palmas Home that sold 4/27/2012 for $713,000.

Avenida Feliz Home that sold 4/13/2012 for $690,000.

This Avenida Calma Home is in Escrow with a list price of $1.150mil

This Via Broma Home in Escrow with a list price close to $1.175mil

Since January, the Real Estate Market has made a dramatic turn and Whispering Palms in Rancho Santa Fe is an excellent “micro” example of the phenomenon going on. Speaking only regarding the detached housing market, currently two homes are in escrow and only two homes are on the market. For a neighborhood that has approximately 226 homes, we call that …a huge shortage of available homes for sale. In 2011 we had 7 homes that sold. That does not count what went on the market and did not sell. And last year the average square footage for all homes sold, on and off the golf course was $356 per square foot. This year we have had 2 homes year to date sell (but they were not on the golf course and needed some TLC) and we have two in Escrow that are great quality homes that also are not on the course. The two homes that sold created a year to date average of a sales price of $370 A square foot which is considerably higher than last year. How does this happen when so many golf course homes sold in 2011? Well the two homes this year that sold were smaller, not on the golf course, and both buyers plan to upgrade the homes which will be wonderful for our neighborhood. The two pending homes will bring down our running average of sales per square average, but both homes will close for well over $1mil in my estimation.
In conclusion, it looks like we are on track for sales this year. By end of the first half of the year we will have sold half of what sold last year in Whispering Palms. However, what is developing is a shortage of homes available for sale and the good news of that will drive up the market prices (law of supply and demand) and transition us from a buyers market to a sellers market. Since I specialize in listing, marketing and selling properties, that pleases me! Please look at my tab “Sales Gallery” to see how I market homes and position them to get the most showings through visual presentation and the highest price. It is all about first impressions!

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California, Caravaning New Listings, Coldwell Banker, Economic Real Estate News, Morgan Run, Preparing A house for sale, Rancho Santa Fe, Rancho Santa Fe Social Events, San Diego, Shannon Biszantz, Whispering Palms, Whispering Palms Neighborhood

Beautiful Condo in Whispering Palms just came on the market for sale through my office Coldwell Banker Residential in Del Mar. Single Story, multiple fairway views, high vaulted ceilings, new kitchen all make this listing one of the best bargains I have seen this year in Whispering Palms of Rancho Santa Fe.

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Behind the Scenes of being a Realtor, California, Coldwell Banker, Morgan Run, Palma De La Reina Project in Rancho Santa Fe, San Diego Condos For Sale, Shannon Biszantz, Social Events in Whispering Palms, Whispering Palms Neighborhood

The most interesting part of being a realtor is getting out in the field, visiting and valuing homes that may go on the market. Often they are homes that I am being interviewed for in possibly listing the home. Extra care and attention goes into valuing a home that I may be representing. In these next 2 videos, the home has a few surprises for me!

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Appraisal Information on Properties, Behind the Scenes of being a Realtor, Coldwell Banker, Del Mar Homes For Sale, Economic Real Estate News, In My Opinion Only, Preparing A house for sale, San Diego Homes, San Diego Homes For Sale, San Diego Real Estate, Shannon Biszantz, What seperates the good agents from the great agents

A Little Bit of La Jolla Real Estate History!

A luxury La Jolla home once owned by a famous jockey and that served as a stage for old-school Hollywood celebrities has been listed for $14.9 million. The 10,000-square-foot house, at 6019 Avenida Cresta, belonged to Billy Pearson, who won hundreds of races around the world and befriended Tinseltown stars including one of his closest friends, director John Huston. Pearson began a love of art after his retirement and went on to win two game shows “The $64,000 Question and The $64,000 Challenge” in 1956. He assembled an extensive art collection and in later life became a dealer in pre-Columbian art.

Article compliments on Union Tribune

http://www.utsandiego.com/news/2012/may/01/famous-jockeys-former-home-lists-149m/

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Celebrity Real Estate, La Jolla Real Estate

many home sales — has been taken up by industry trade groups.

The National Association of Realtors and the National Association of Home Builders have both identified issues surrounding appraisals as a factor putting a damper on sales of new and existing homes in May — the first month new rules governing appraisals conducted on loans slated for purchase by Fannie Mae and Freddie Mac took effect.

NAR has asked the regulator that oversees Fannie and Freddie to suspend the rules for 18 months, saying they may not be working as intended.

Although existing-home sales picked up slightly in May — posting the first back-to-back monthly increases since the fall of 2005 — the 2.4 percent increase was less than would have been expected from a previous rise in pending sales, NAR says.

Many contracts fell through in May because of “faulty valuations” that kept buyers from getting a loan, NAR Chief Economist Lawrence Yun said when the group released the latest numbers on sales of existing homes.

Stories of appraisal problems “have been snowballing from across the country,” he said. Some lenders may be using appraisers who are unfamiliar with a neighborhood, or who compare traditional homes with distressed and discounted sales, Yun said.

Sales of new homes were virtually flat in May, and one of the factors limiting sales was the use of foreclosures and short sales as “comps” and the affect on appraisals of nearby homes, NAHB said.

NAHB is calling for new guidelines for appraisals of properties in areas with large numbers of distressed properties, that would include giving appraisers the option of expanding the geographic area or time frame for eligible sales to get a more representative take on home sales in the area.

Because appraisers can’t inspect the interiors of many properties that are used as comps, they may not be aware of maintenance issues or damage that are common with foreclosed properties, NAHB said. The failure to adjust comparable values of foreclosed and distressed homes often results in the undervaluation of new homes, the group maintains.

In a June 22 letter to the federal regulator that oversees Fannie Mae and Freddie Mac, NAR placed much of the blame for problematic appraisals on the Home Valuation Code of Conduct — new rules governing appraisals conducted on loans slated for purchase by Fannie and Freddie that went into effect May 1.

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Appraisal Information on Properties, Economic Real Estate News, Real Estate News