Felicity Hunter: Hi, Scripps Ranch, it’s Felicity Hunter. I’m here at Coastal Premier Properties, and we thought we’d go on Facebook Live today. I’m sitting here with my team, and we were just at Caravan today. In Scripps Ranch, the agents around here, we meet once a week on Tuesdays and we go over what’s on the market, what’s coming up, and we all kind of get asked the same questions, so we thought I’d do a live and talk to you guys and let you know, because the number one question I get asked when I go to baseball games or out to dinner is how is the market in Scripps Ranch.
Felicity Hunter: Well, great news if you own a house here, our market is strong. No matter what you see on the news or anywhere else you’re getting information, Scripps Ranch is doing fantastic right now. Our inventory is very low, I did a little research before I got on this live, and we have 12 condos for sale. That is not very many, or attached homes 12. In Scripps Ranch proper, if we take Stonebridge out of the equation, we have 19 houses for sale, that’s not even a month’s inventory. Out in Stonebridge, we have 23 houses for sale. So, Stonebridge, which is not as big as the rest of Scripps Ranch, has 23 houses out there for sale. But within Scripps Ranch proper, the ones that are zoned for our schools, we have 19 houses. We desperately need houses.
Felicity Hunter: I went to Caravan today, and we had zero houses on Caravan. That meant no new listings being pitched that were currently on the market, nothing for us to go see. That means this is a seller’s market. It is hot, hot, hot. If you are thinking about selling here, if you’re planning on downsizing or moving or you want to get a bigger house, now is a great time. Rates are really low, the buyers are very active, and if we set your house correctly for sale, if we do all the work that we should do, we can get you a really nice price. If you just throw it on the market willy nilly right now, the buyers will push back on you a little bit. But if you want top dollar, we have systems that work that will get you really, really good returns on your money, put a little bit in, you can get a lot out right now.
Felicity Hunter: The Scripps Ranch market is strong, we need houses for sale, we are desperate for them. So, if you know anybody thinking about selling, tell them right now is a good time. It definitely is.
Felicity Hunter: Another question that I get asked a lot is are prices coming down? It’s a good question because I have buyers that are like, “Should I wait? What happens if I wait? I feel like the market’s going to soften.” We have no indicators that’s going to happen right now.
Felicity Hunter: Right now, projections are 3% to 5% growth this year in home prices, and our rates are low. If you’re considering buying, if you wait a year, you’re going to wind up paying about 5% more for the home, and chances are, the rates will go up. Really, if you’re thinking about buying, there’s no better time than right now because rates are great, and holding off that 5% on a $500,000 house is quite a bit of money. So, you lose out on that in that should I wait market.
Felicity Hunter: Down payment, there’s lot of things that come into play when you’re deciding to buy or sell, so you definitely want to take into consideration all the factors that could affect you. But, for the most part, now is a great time to buy because rates are cheap, money’s cheap, rates are low, and home prices in San Diego, Scripps Ranch specifically, are just going to continue to go up.
Felicity Hunter: Scripps Ranch, right now we’re kind of, and I don’t know how we became this, but we’re a little bit of, I call it, the La Jolla on the 15. Our area is just booming right now. Our home prices are crazy great, it’s just nuts. I think it’s because we’re a niche community because we have a lot to offer for families, people really want to live here.
Felicity Hunter: So, if you live here already and own a home, congratulations, that’s awesome. If you don’t, my best suggestion is talk to a local expert. Do not go online and find some agent just randomly. Talk to people with boots on the ground here, we have terrific real estate agents here in Scripps Ranch. We all know the market really, really well, and you are going to get way more for your money if you work with one of us that really knows this area, lives in this area, and can help you understand the market, make strategic moves, so you really, really want to work with a local expert.
Felicity Hunter: Those are my tips for today, we’ll see you next Tuesday. I hope that you love where you live, and if you don’t, call us or message us anytime.
Felicity Hunter: All right, have a great Tuesday.