December 19, 2024

Happy Thursday!

Hello from Kauai! My family decided to take our Christmas vacation a week early to avoid the travel crowds. I hope you're having an amazing holiday season and have something fun planned for the next few weeks.

Here are 3 properties, 2 RE news updates, and 1 thought from me + a market snapshot.

The season decline is still on the move, taking place at a faster pace than last year with more listings expiring everyday.

Will all of these expireds come back on in the new year? I think they might. What about prices.... we're down 6.3% from the June peak, but up 4.8% Year over Year.

3 Properties to check out

2630 Pirineos Way, Unit 14 Carlsbad, CA 92009 $859,000 I’m a big fan of La Costa. While it’s not exactly “cheap,” you can still find a turnkey condo for under $1 million! This fully remodeled 2-bedroom condo is in a fantastic location and a great option for first-time homebuyers in North County. View property

2458 Unicornio St Carlsbad, CA 92009 $2,750,000 I also love that parts of La Costa offer stunning ocean and lagoon views. BUYERS BEWARE: There’s a growing trend where agents use AI "virtually remodeled" images to showcase homes. This can be very misleading if you don’t realize. Always do your due diligence! View property

2160 Balboa Ave Del Mar, CA 92014 $28,995,000 I say it every week: I will share inspiring properties, and this one is no exception. It’s a 7,000+ sqft house perched on one of the highest ridges in Del Mar. This property is truly unique, offering whitewater ocean views and unobstructed mountain views to the east. From sunrise to sunset, this home is something special. View property

2 News Articles

• ​San Diego County’s GDP up to $261.7 billion​

"San Diego County by itself is wealthier than the entire country of Greece and wealthier than most small European countries as well." We have a diverse economy, including tech, biotech, military, engineering, maritime construction, and tourism which lands us the 10th most productive city in the U.S.

• ​The Federal Reserve lowers interest rates again — but hints at fewer cuts next year​

The Fed announced another rate cut in their last meeting of the year yesterday. But again, their decision doesn't directly impact mortgage interst rates (explained here). All major analysts expect mortgage rates to continue a gradual decline (not necessiarly the Fed Funds rate), hovering in the high fives and low sixes next year. This, combined with the surge in mortgage purchase applications and increasing inventory in 2025, could lead to a very active real estate market!

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"I feel like an MMA fighter who keeps getting inflation in a choke hold, waiting for it to tap out, yet it keeps slipping out of my grasp at the last minute," -Fed governor Chris Waller

Gotta love a MMA/ BJJ reference! On average, members of the Fed's rate-setting committee said they expect borrowing costs to fall by only another half percentage point in 2025. That's less than three months ago when they were projecting a full percentage point in rate reductions next year.

1 Tip or Thought

​The Future is Here. Is this a business opportunity for someone in the US?​

This company, based in Australia, has a warehouse where they take your architectural drawings and project them onto the floor, life-sized, so you can walk through your house before it’s built or remodeled. They use AI, projectors, prop walls, and more.

I did a quick search and couldn’t find any local options. Business opportunity for someone who wants to build or source the tech, lease a warehouse, and set it up! I think this could be a very useful service in the future.

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

P.S. Do you have a trip planned to Kauai? Want a full guide of the recommendations we got + things we've enjoyed doing. Message me and I'll send it to you!

Check out the calendar of ALL the Holiday events going on in SD HERE.

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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.