Arrowood Real Estate Market Update January 2014

Arrowood Real Estate Market Data

For January 2014

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Arowood Real Estate Market Update Video Transcript

**This transcript is auto generated by YouTube, pardon any errors, it’s just a poor machine.

Hi I’m Michael Gaddis your Arrowood real estate expert. Today I’d like to talk a little bit about the state of the market in Arrowood as a January 15 2014 I took the liberty a gathering at some data from SANDICOR which is San Diego County’s Multiple Listing Service I pulled I all the active can active contingent pending and sold listings with the sole listings taking place from December first to today January 15 so I will go over some %uh this data with you to give you an idea kind of what’s going on as a today there are 12 active listings in a row what I with the hide listing being one million three hundred eighty nine thousand nine hundred ninety five dollars 48 4700 39 square foot home the average listing and our active listing in a row it currently is 870,000 1907 dollars for a three thousand eight hundred and seven square foot home on the average listing price per square foot two hundred eleven dollars and forty five cents there are currently no contention listings and Arrowood now that’s interesting because contingent listings means yourselves so I’ve seen this throughout the county as I do some market reports for various areas and I’m noticing fewer and fewer contingent listings so that’s a sign that short sales in may be distressed housing in general as is definitely taking a backseat something’s happening in and it’s a affecting the real estate market there are currently six pending listings in in Arrowood up with the high list price for the pending listing being nine hundred sixty-eight thousand for a four thousand 129 square but the average list price per pending listings as seven hundred nine thousand and ninety dollars for 3,675 square foot house with an average listing price per square foot a hundred ninety dollars so the average pending square foot price is about twenty one dollars per square foot lower than the average listing price per square for um might mean that maybe there’s going to be some price reductions a little bit in the for the active listings based upon what the pending listings are going to do very soon and the average market time is 32 days and right now when I was looking through the data I noticed a lot of price reductions already and you can see some other data rate here can I cannot see the little a rose here I show you the price reductions that people are dropping their prices law that has to do with just the season in the year is it there’s a couple reasons one as I mentioned the season winter time is notorious for being one of the worst times to try to sell your house a especially during the holidays the other reason is may be lending practices the for example the consumer finance Protection Bureau just came out the CFPB came out with some new rules is going to kind of restrict lending a little bit an its going to tighten the belt a little bad so you know it limited one other things are that imagine as borrowers have to approve the ability to repay their loans on that new concept on but that’s what’s going to happen so that could be affecting price a little bit as the pool of buyers might be able to pleaded right now but we’re getting ready to enter to spring and summer time in spring and summer time and tutorials for being the harder times the your cell I am currently our sense the December 1st there have been seven sold listings I’m the hi sold listing time since December 1st was only in five hundred ninety nine thousand an interesting in a as we noted there is a pending listing right now for nine hundred sixty-eight thousand which is substantially more than then they’ve sold listing since December first but the average list price per square I mean I’m sorry the list price for that property at per square foot was 199 the sold price was 199 as well the average sold listing list price was five hundred thousand the average sold sale price which is be more important now the two was 513,000 944 dollars a for a 3,000 square foot home so the list price: price per square but other sold listings was 168 dollars and the sold price per square foot was 170 are so it’s very close I they’re selling very close to what they listed for so farm that is the a current state of the market and in Arrowood and just one more thing sometimes people like to know what the most expensive house is that is currently on the market in your area and currently in a most expensive house on the market in Arrowood he is 10 13 Village Drive it is on the market for one point 389 million dollars and it’s been on the market for 50 days it is a four thousand 129 square foot house five batters five bass built in 2011 so that is the most expensive house and that is a doozy so anyway if a you need some more information are you would like more information are you would like to and talk to me for any reason whatsoever you can give me a call at 760 692 5950 760 692 5950 or you can visit my website at Michael Gaddis dot com or you can visit my office if you would like at my office is located in Carlsbad now I am I actually live very close to era Lindo very, very close so that is why I spent a lot of time there. I really do like a related So again, this is Michael Gaddis and this is the area where January market update and I thank you for taking the time to watch it.

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