Earlier this year, one of the iconic Encinitas “boat houses” was available for a rare public tour and we were there.  The Downtown Encinitas MainStreet Association took advantage of  a recent vacancy, and allowed the curious a look through the port-holes of the recently renovated SS Moonlight.  More than 1,000 visitors strolled her decks, led by DEMA volunteers.

Any local can point you in the direction of the sister ‘boats’, the Moonlight and the Encinitas.  These two whimsical houses were built by Miles Kellogg in the late 1920’s.  Miles used timber salvaged from the 1888 Moonlight Beach Dance Pavilion, after the popular nightspot closed during Prohibition.  How’s that for an early example of ‘going green’ and recycling? Over the years, they have been rented out to the adventurous, and are a well known (but unofficial) landmark in downtown Encinitas.

“A cabin on the SS Moonlight is not for sissies…”

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“No, I’m not kidding, it’s SOLD!”

Something has happened to the “doom & gloom” real estate market in San Diego County. Good news is becoming more the norm, when it comes to discussions around the water-cooler. Homeowners, buyers, and their agents are noticing the disappearance of “For Sale” signs in their neighborhoods. Are termites eating them? Is it delusional wishful thinking? Reports are coming in from reliable sources that echo the masses. It appears the bottom IS finally here and in fact, has been here for several months now.

We’re seeing reduced numbers of foreclosures coming on the market, and they’re selling within days after listing. Even the once shunned ’short sale’ property is now fielding multiple offers in a matter of days after listing. AND…get this…the winning bid is typically higher than asking price AND is being sold As-Is!

DataQuick just reported that the proportion of former foreclosures being sold dropped to 47.3 percent of all resales, compared with the record 55 percent in January 2009. Hmm…

“Top 5 signs we’re (finally) at the bottom of the housing market…”

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“Psst…Wanna A Piece Of Pie?”

Buy now or wait? Consult your agent, your dog or the Wizard of Oz? Whom can we rely on as home buyers in today’s market?

“Our real estate market is like the soggy remains of the beautiful cherry pie from yesterday’s Sunday Dinner…”

Folks are looking it over, poking at the crust that used to be so perfectly flaky, and reminding themselves that the diet was supposed to start yesterday. But pie is pie. If you close your eyes and take a bite, the taste still provides that same bliss…

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“And, it’s not what you think!”

Dubai, United Arab Emirates, has earned the #1 spot in a 2008 comparison study of the most expensive International housing markets, while La Jolla has captured the #1 honors for the U.S. market.

La Jolla topped the list with an average $1.84 million price tag for homes that met the study criteria. Last year, Beverly Hills took the top position with a $2.21 million average price tag. (Who knew?)

“Does this mean that La Jolla homes held their value better than similar homes in 90210  since last year?”

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“Kickin’ the Repo Man to the curb…“

The San Diego real estate market has a up side? Yep! I’ll explain. Foreclosures and short sales…savvy investors and first time home buyers are cashing in on the windfall when they hit the market. Homes which were unattainable, are now within easier reach for the first time in over six years.

Large numbers of foreclosures and short sales have brought prices down a whopping 25 to 35 percent from a mere year ago. Translated into dollars,  a payment of $2,450 per month about a year ago now would be around $1,650.

“That’s a savings of $800.00 per month!”

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