Rancho Carrillo Real Estate Market Update January 2014

Rancho Carrillo Real Estate Market Data

January 2014

Michael Gaddis, J.D. Realty Group talks about  Rancho Carrillo real estate market. If you have interests, please contact us at 760.487.8266 or Toll Free 888.242.2272.

Rancho Carrillo Real Estate Update Video Transcript:

I am Michael Gaddis, your local Rancho Carrillo real estate expert. I’ve always liked Rancho Carrillo. Probably one of the primary reasons I’m really drawn to Rancho Carrillo is that historical fact that it was owned by and the land was owned by Leo Correa who was Poncho and the Cisco Kid, the television series. When I was growing up, whenever I visit my grandmother she always made me watch the Cisco Kid. So I grew up watching Poncho. I’m just enamored by the fact that Pancho used to live in that community and so the historical nature but is always kind of drawn me to it.

But and the purpose of this video is to provide you with a market update as a December 12th 2013 for Rancho Carrillo. Recently my associate, William Afzali, has been going up and down through the neighborhood delivering our most recent market update report. It looks like this. I’m sure some of you have probably already seen it on your doors and if you haven’t seen it yet you will very soon. And I hope you find this market update form very useful to you. It does provide you know what the active, pending, sold, in contention listings are for the Rancho Carrillo area and I plan on putting these out probably around once a quarter. I figure once a quarter it’s good for you guys to come together a very clear gag just what it is that’s going on in your neighborhood.

When I pulled the data today, the one thing that kind of stood out to me is that right there are a lot of price drops going on, a lot of price drops throughout
the listings. Probably a tribute to the fact that we are in the slow real estate season. Traditionally you know December, January, February and March are one of the slow seasons because it’s the wintertime and people don’t like to move in the winter plus they don’t like to upgrade their children and change schools so that could account for the fact that there’s a lot of price drops in the area. The other thing that might be you know just sort of an issue is lending guidelines are going up and down, and whenever someone buy it you sell your house you depend a lot on
banks to provide landing to the potential buyer. So unless the buyer is paying in cash, she is got to get a loan and the banks are a little bit more hesitate you know tightening the belt on issuing loans, especially high dollar loans like would be necessary over in Rancho Carrillo. It can deeply to pull a buyer’s a little bit so that has been occurring recently. So you know that’s another factor that’s been going into it. It has up-to-date are eight active listings, two contention listings, four pending listings and nine sold listing since October 1st 2013. For those of you who are unfamiliar with what a contention listing is a contention listing is a listing that is typically a short sale that require some sort of additional approval. It could be in the form of a lender approval on a short sale, probate approval on in the instance of the debt but it requires something beyond a normal sale.
So there are two of those currently contented in Rancho Carrillo. The most expensive house that’s close recently was on 2892 Rancho Ganadero. It was a three thousand seven hundred ninety-seven square foot house and it closed on December 3rd 2013. Statistically, when you look at the averages for the Rancho Carrillo neighborhood and you factor in all of the listings the average square foot for the currently is 2,552 square feet, the average list price is 684 thousand, the average sold prices has been 657 thousand, the average sold price per square foot is 271 dollars per square foot, the average days on market has been 57 day so basically two months. That probably goes up a little bit in the winter months and the price shorten a little bit in the summer months, so I hope you found this video helpful and I hope you find our little quarterly market update flyers helpful.

If you would like have some more information please feel free to contact me and you can either visit me on my website or you can drop by my office which is just very close to Rancho Carrillo. I’m in the towers a Bressi Ranch that is about five minutes away from you guys. Or you can, as I mentioned, just go to my website and you know maybe do some or find more information on that. You might see it helpful. I’ll be trying to do these updates once a month to kind of give us my update and my kind of opinion on what’s going on in Rancho Carrillo, otherwise maybe I’ll see you around. Thank you so much

Comments are closed.