April 10th, 2025

Happy Thursday

Hold on for the roller coaster ride of global economies... more on that in a moment.

A client recently sent me a listing they were really excited about in Carlsbad—4 beds, solid layout, and priced just under the comps. It looked like a light fixer… but the agent remarks told another story.

This was a trust sale, AS-IS, with a pre-listing inspection already done (rare in our market). The report revealed ~$75K in repairs… and that’s the optimistic version. Between termite work, a failing roof, windows, mold/moisture issues, and HVAC problems, the true number to make it right is closer to $150K–$200K+.

Takeaway? The prettiest price tag doesn’t always tell the full story. Especially in this market, having someone who digs into the details before you get emotionally invested saves time, money, and heartache.

Here’s what’s happening in real estate today:

3 properties to watch, 2 news updates on market trends, and 1 thought-provoking insight from me + a snapshot of current market conditions.

Fewer homes went into contract this week—but honestly, that’s probably just spring break doing its thing, not some major market shift.

Reminder: this newsletter isn’t just about what’s happening today—it’s about where things are headed.

Inventory is still low compared to a “normal” market, and most homes (that aren’t funky or overpriced) are still moving fast.

Rates dipped, then bounced—but if they trend down again, buyer demand could pop. The wildcard? Will a softening economy might slow any rebound?

Median Prices This Week

3 Properties to check out

7707 Garboso Pl Carlsbad, CA 92009 $1,899,000 They aren’t making more land—especially not like this. Big lot, livable home, endless potential. Whether it’s a dream backyard, a detached guest house, or a full custom rebuild, there’s major upside here. Turnkey comps are in the mid-$2M range and don’t even have this lot. View property

2381 Manchester Ave Cardiff-by-the-Sea, CA 92007 1761 Greentree Rd Encinitas, CA 92024 $935,000 Sub $1m in Encinitas? Village Park gem with 2 beds, enclosed carport (hello, bonus space), and access to community tennis courts. This pocket of Encinitas is tight-knit, laid back, and rarely under seven figures. View property

17484 El Vuelo Rancho Santa Fe, CA 92067 $9,700,000 Walked this one myself—and wow. Straight out of a magazine. Timeless design, killer location, and one of those properties that feels like home the second you step inside. JAW DROPPER. View property

2 News Articles

• ​San Diego might be having its slowest year ever for newly built housing​

New home construction is dragging, which means more pressure on resale inventory. Translation: If you’re holding real estate, you’re holding gold. And if you’re buying, the options are still limited—be ready to move when the right one pops up. There's also not many places for new development to go... not in the desirable areas, at least.

• ​LEGOLAND’s Carlsbad Expansion​

More fun coming to Carlsbad! LEGOLAND’s 2026 additions are a big win for local families and tourism. Expect even more weekend buzz and strong short-term rental demand nearby.

1 Tip or Thought

Zoom Out.

While headlines scream about interest rates, stock swings, and trade wars… Meanwhile, North County San Diego keeps doing its thing—steady, desirable, and always in demand.

Real talk: If you’re not selling today, short-term chaos doesn’t matter. This market’s built on lifestyle, land, and long-term value. Low supply, steady demand, and desirable schools keep it strong.

Real estate here isn’t a stock. It’s a strategy.

Act when others hesitate, and you gain the edge.

Josh Meltzer DRE 02098859 REALTOR® M: 858.585.0309​ ​Josh@joshmeltz.com​ ​joshmeltz.com​

P.S. he Carlsbad Flower Fields are in bloom through May 11.
55 acres of color, wagon rides, artist gardens, and more. Great for families, dates, or solo wanderers!

🎟️ Heads up: Tickets must be purchased in advance. No walk-ups!

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DISCLAIMER: Due to recent changes by California Association of Realtors, and the SDMLS Clear Cooperation Policy (the “Policy”), Brokers are limited in their ability to share off-market properties. It is the intent of this letter to be in compliance with the Policy. For this reason, Talechia & Associates can only share such property information with clients of Talechia & Associates. If you would like more information on our properties that are not publicized in the MLS, and becoming a client of Compass, please contact Josh (858) 585-0309 or Talechia (858) 229-2181

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628, 01527235, 01527365. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.