North County...

is one of the most desirable communities in America. Hotels are still maintaining good occupancy in the face of a weak state economy and a number of new rooms. Our wineries are competing successfully for market share in a global wine environment. Leadership is a difference maker and our wine industry leaders are making a positive impact. Real Estate is leading our local community out of the economic malaise that has gripped our society. In the coming years North County will exceed all expectations.

It is our belief that the stimulus dollars are already working. In North County the Real Estate market has bottomed and is in a recovery mode. Recovery mode is defined as more sales and stable pricing. Today we welcome price stability.

Interest rates are hovering under 5%. Buyers are smart and these low interest rates are going to push more buyers into the market now. We now have cheap home prices and cheap money. Historically winter is a great time to buy because demand is low and sellers are aggressive. Even though our North County Real Estate Market is recovering, we are benefiting from the government induced low interest rates designed to stabilize regions of the Country. Investors and first time buyers will be aggressively pursuing property. As a bonus building costs are down, construction loans are cheap and lower interest rates enable the move up buyer.

With virtually no new construction and few lots for sale it is easy to see demand and supply coming into equilibrium. Demand can change overnight but supply takes time to create. Almost one third of the home sales in 2008 were foreclosures or short sale transactions. There were no shortage of buyers for these residential offerings and the foreclosure properties clarified pricing for the entire market. Markets are what they are and Real Estate is no different. Foreclosures will last into our 2009 market.

Median pricing for residential single family homes has stabilized in the $360,000 range. The unique nature of North County, a wide range of property types, makes sale price averages somewhat misleading.What we do know is that property values have been established by a number of buyers actively pursuing homes for sale. Many properties, at the lower end, experience multiple offers. Higher end properties are beginning to sell as distressed properties aggressively meet the market. The combination of lower interest rates, bigger loan values and lower prices will spark the high end market.

There were a lot of spec homes built on 1-2 acres, with million dollar price tags, in 2005-2007. Many of these estate caliber homes, that did not sell, have gone back to the banks. There are great buying opportunities in this category with pricing well below the million dollar mark. Many of these homes have sat vacant for the last couple of years but 2009 will see a surge in these McMansion sales.

Acreage parcels, 10 acres and up, is a very thin market. This fact notwithstanding it is interesting to note the demand for quality Westside acreage. Pricing is very strong for Westside dirt. Premier areas and premier parcels, few and far between, still bring big numbers.

The vineyard market is dramatically divided between the Eastside and the Westside. 2008 crop yields were light in all areas. Westside fruit sells for double, sometimes more, than Eastside fruit. Vineyard land values are equally divided between Eastside and Westside. Eastside values have languished in the low $20K-25K per acre range with Westside figures up to $50K. Pricing for raw Westside dirt, especially plantable, fuels the aforementioned price points. Vineyard quality is also important. Wine sales are fair so demand for fruit should be firm in 2009. Many wineries are signing multi-year contracts.


Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game.
I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

Call (805) 835-3373 or email me today at alicia_bartow@yahoo.com!