The spring housing market has entered unchartered waters. The Federal Reserve issued a significant mortgage interest rate increase and in theory, rising mortgage rates should take some steam out of this hot housing market. Will the housing market maintain its explosive growth in the face of rising mortgage rates? Some forecast models predict the housing boom will continue well into 2023, while others forecast that increasing rates will cause significant cooling in the market. 

For now, there still isn't enough supply to match the demand. Even if higher rates price out some buyers, it wouldn't be enough to alleviate the difference in the lack of supply and the high demand in the immediate future.

 Contact us to discuss your unique home buying or selling situation. Read on for local events in April, real estate in the news, and discover lifestyle tips curated just for you!

~Layne & Rachel


Congratulations to our buyers who just bought the award winning “Observatory House” in North Park. This home has won 5 national and regional awards including San Diego Home and Garden Home of the Year. The home was originally built in 1922 as a craftsman bungalow and distinguished architects built the 26’ stucco and marble tower in the late 80’s as a library, reading room, and observatory. There are two observation decks offering 360 degree panoramic views. We are excited for our buyers to own this fascinating historical legacy in such a charming community in San Diego. We were able to negotiate strongly for our buyers and got an accepted offer under the list price of $1,850,000 - $2,100,000. Yes, a home actually sold for less than list price in this market! It pays to hire a Realtor who knows the market.

We were so happy to help facilitate the sale of this beautiful 4 bedroom, 3 bathroom, 2,118 sq ft home on a quiet cul-de-sac that our sellers had owned for 28 years. We were able to make the transition from their family home of almost 3 decades into their new lake view home seamlessly and we provided insight into transferring their tax basis by taking advantage of Prop 19. We were able to help our seller's son and daughter in law sell their townhome in Discovery Hills in order to buy this new forever home. We enjoyed working with their entire family and hope that they are all very happy in their new homes for many years!

Modern luxury architectural masterpiece at the apex of the hill in the coveted community of Point Loma with spectacular panoramic views of the bay, downtown, Coronado, mountains, and city lights. This brand new custom home boasts 3,735 sq ft with 4 bedrooms and 4.5 bathrooms in addition to a highly desirable detached 1 bedroom, 1 bathroom, 485 sq ft ADU (3509 Talbot St). This entertainer’s dream home was designed with multiple entertaining areas including an outdoor kitchenette with a built in BBQ and expansive wrap around view decks to capture the dramatic views of the bay and downtown skyline. Close proximity to the bay, beaches, Sunset Cliffs, Shelter Island, yacht clubs, the village, Liberty Station, and all that this premier neighborhood has to offer.  

Real Estate 

in the News

Most and Least Expensive States To Live In


Thinking about your next big move? Choosing a place to live is a highly personal decision, and there are a lot of factors that go into it besides purely financial ones. For example, maybe you live in a place with a high cost of living, but you’re also close to your friends and family. Or maybe you work in an industry that only exists in certain regions. Or maybe you just really love the school district your kids are in. But if the most important thing to you is cost, then read on to see what states were the cheapest and most expensive.



Local Events

Encinitas Spring Street Fair 


April 9th-10th


At the Encinitas April Street Fair, enjoy unique food, five live music stages, children's rides, beer garden, and more than 450 vendors. More information found here.

37th Annual Spring Home/Garden Festival 

April 10th-12th

Now in its 37th year, the Spring Home/Garden Show returns to Del Mar Fairgrounds for a three-day extravaganza of inspiring real "Garden Masters" landscapes (created exclusively for the Show), hands on demonstrations, hundreds of home-improvement products and services exhibitors, educational seminars, plant sales and face to face consultations with top experts - all with the convenience of one stop shopping for everything pertaining to home and garden, inside and outside. More information found here.


La Jolla Concours D'Elegance

April 16th - April 18th

Earning the reputation as one of the finest internationally renowned classic automobiles showcases in the United States, the La Jolla Concours d’Elegance continues to attract discerning car enthusiasts from around the globe. With such a rich history and ever-growing population of vehicles in the world, the La Jolla Concours has made it a standing tradition to select a marque each year to honor throughout the weekend of events.

Tickets and information found here.
Taste of Liberty Station April 20th

Liberty Station invites San Diegans to stroll and explore all its offerings at Taste of Liberty Station. Liberty Station businesses will open their doors for attendees to discover the variety of bites of Liberty Station’s eateries, live music and artisan goods in the storied corridors and artwork from the local galleries. Buy tickets here

San Diego EarthFair April 24th

The annual EarthFair in Balboa Park is the largest free annual environmental fair in the world. EarthFair 2022 will be the 31st Anniversary event! Each year, the EarthFair draws around 50,000 visitors looking for ways to live a more sustainable life and support a clean, healthy, and prosperous environment! More information found here

Lifestyle Tips & Tricks

5 Places to Obtain Virtual Real Estate Data

People spent over $500 million on virtual real estate assets in 2021, but until very recently, it hasn’t been easy to find the data necessary to make informed purchasing decisions. The situation was such that people often bought land uncertain of where it was even located. Sensing the need for better data, several companies have jumped in over the last year or so to try to fill the void. There are now a few places to obtain good information on the virtual real estate market!


Open Floor Plan: In or Out?


Over the past few months, we've been noticing the rise in rooms, not just designated areas of a larger space, but sectioned off spaces complete with four walls. So, what gives? Is the open floor plan on its way out? Admittedly, it depends on who you ask.

Space Age Design Relaunches

Whether you call them Space Age or Atomic Age, the homes built in the 1950s and 1960s represented a new wave of modern architecture inspired by space exploration and futuristic ideas. Architects and designers are gathering inspiration from advancements in space materials and technology.


We are excited to share that Compass is officially the LARGEST brokerage in the United States in terms of closed sales volume (RealTrends 3/16/22).

Congratulations, Compass! We are proud to be partnered with such an amazing company!

compass
Layne & Rachel

Harrison

© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC

Compass is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. License number 01527365. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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