Open House/Real Estate Blog of San Diego

Gawkers turn out for high-end open house

2009-12-07T12:59:00.000-08:00

Real Estate Bar Camp San Diego

2009-11-12T10:33:00.000-08:00

Open House Genie is getting feedback at Real Estate Bar Camp in San Diego this morning. The focus is social media that will become simply MEDIA very soon.

More to come from the National Association of REALTORS Convention starting tomorrow.

National Association of Realtors Convention

2009-11-09T10:16:00.000-08:00

Open House Genie is very happy to welcome over 25,000 National of Association Realtors members to San Diego the week of November 9 - 15 for their annual convention.

Taking place at the San Diego Convention Center, the week kicks off with a social media event at Stingeree on Thursday, November 12. This is RE Bar Camp/San Diego.

The famous Expo kicks off Friday night and runs through Monday.

Our convention center is packed with dozens and dozens of conference events, black tie parties and many chances for agents to mingle. It will be one of the largest conventions in San Diego in 2009.

All you brokers and agents, if you wish to see a San Diego open house, please contact Open House Genie at info @ openhousgenie.com for a tour.

Free Web Content a Thing of the Past?

2009-07-26T09:31:00.001-07:00

Barry Diller, chairman and chief executive officer of IAC/InterActiveCorp, met recently with other media executives .at the Fortune Brainstorm conference in Pasadena, California.

His, and the other's comments, are an interesting blend of frustration about free Web content and the (happy?) lament that they predict free content may dissolve away.

Anyone who has started a website business knows there are a couple of business models: free use and nothing else. So far it's been the only way to get the eyeballs: the content must be free, particularly on new sites like San Diego's open house site www.openhousegenie.com. In our case, the ad cost of $10 is to provide the revenue.

But this article about Diller et al opens up the idea that a site providing a wealth of service can be partially subscribed, partially free. A lot like the Wall Street Journal, I suppose.

OpenHouseGenie.com will be free for any user who wants to read our articles and of course find San Diego open houses. Check out the article though.

http://tinyurl.com/ngrnko

New real estate stories

2009-07-17T12:31:00.000-07:00

We think these are important real estate stories today. Enjoy!

Real Estate Expo to be held in San Diego for Realtors - November 2009 - Condoleezza Rice Sugar Ray Leonard Reba McEntire http://is.gd/1lEvx

Big real estate writedown potential overhangs GE http://bit.ly/bfhdk

The Current Real Estate Opportunity and the Market Ahead: Peter L. Mosca shares an .. http://bit.ly/BsOrX

Real estate agent charged in couple killing - WDBO Radio: Sydney Morning HeraldReal.. http://bit.ly/LWybO

Tech visionary Jim Clark speaks his mind: As for Florida real estate, it has collapsed no more than California...http://bit.ly/dsUNE

What Are The Benefits Of Hiring A Real Estate Agent...http://bit.ly/1LjI1o

Housing construction hits a 7-month high - Real estate- msnbc.com http://ow.ly/hya1

Commercial real estate vacancies surge above 12% in Manhattan http://bit.ly/3Eef7a

Tweeting making an impact on all industries…especially Real Estate. http://bit.ly/h2yhA

As unemployment marches higher, foreclosures surge, threatening ...: Rising unemployment accelerates foreclosure.. http://bit.ly/x1vuf

Why Do Foreclosures Keep Rising? Six Things You Need To Know. http://bit.ly/QpoMy

We'll be back with more shortly.

Have a great day ~ oh yeah, forgot to mention: It's a WHITE HOT seller's market in San Diego if your home is $350K and under.

It's a DEAD real estate market if your home is over $1 million.

Cheers,

Open House Genie

Summer House Buying - it's time!

2009-07-04T17:36:00.000-07:00

The San Diego housing market is currently in a very weird state. If you're lucky enough to be shopping in the $650K and higher range, take a breath. You have time. You have your choice of houses and don't need to rush and can negotiate the best deal for you.

Condo buyers? Regardless of price (unless it's under $100K), you too have your choice and can negotiate accordingly. This is double-y true if you're buying downtown. Take your time.

And if you're in the million plus range, take a long nap before your search. Because every single home will still be there when you wake up. Maybe go to Europe for a few months. Have a great time! Enjoy Europe! Then come home, take a look around and those same houses will be there and they'll be cheaper. You've never had it so good.

Foreclosures are hitting the higher end market with a great deal of steam. It's a very bleak year for the rich seller. He or she isn't so rich.

Now, for the buyer of a single family house in the $200K - $350K range: Do you have your body armor ready? Is your loan completely preapproved? Have you eaten your Wheaties?

If not, better go do those things. This is war, this is business and this won't be fun.

If the house is NOT a short sale, you'll have a ton of competition, maybe upward of 30+ contracts on a clean house.

The hottest area in the county, white hot in fact, is the western pocket of Chula Vista. All those quaint, lovely older homes with wood floors and big windows? Super hot, buckle up. It's very hard to grab one even with a great offer, a great cover letter and all your ducks in a row. Inventory is very down because of the pressure.

What's left out? The houses in the $400K - $500K range. Those homes are sort of sitting there, ho-humming their way through summer 2009.

But as I told a buyer the other day: today's white hot $299K house is tomorrow's white hot $399K house.

Buy now, or forever hold your peace. You can go to Europe later. Get your good deal house now. Buyers under $400K I am talking to you!

Should REOs have open houses?

2009-07-03T16:32:00.000-07:00

Why not? Well I will tell you why not. Many listing agents who have REO listings are incredibly lazy and don't want to even go to the house to take photos, let alone take a broom to it, put out an Open House sign and open a door! Why would they hold an open house? They won't even answer a phone.

In San Diego, we have a chronic emergency of bad real estate agents and brokers, about 1/10 of 1% of our 19,000 agents managing almost all the REOs. They have a tremendous sense of self importance and most of us who have been around long enough know that their behavior is appalling. Abhorrent.

We as real estate professionals demand that we remember that our goal in this industry is to uphold public trust! If we don't do that, we've failed. Police each other if need be. But a higher quality of professional real estate service in San Diego is in order. It's an emergency.

Michael Jackson 1958 - 2009

2009-06-25T16:36:00.000-07:00

Today has been absolutely astonishing with the death of Farrah Fawcett and Michael Jackson. Both icons in their own way. In Michael's case, one of my all time favorite songs, and a truly stunning video is Man in the Mirror. There is no more Michael. Can we even believe this?

So this isn't about real estate or open houses. It's a sad but loving tribute to Michael Jackson and to Farrah Fawcett. Good people die every day. So rest in peace to all who lost their lives today.

Angels welcome them both.

Cheers,

~Genie

What is Open House Genie?

2009-06-25T12:53:00.000-07:00

We are San Diego’s premier open house website and look forward to aggressively blogging about open houses and their virtue, along with the wild and crazy San Diego real estate market. Which changes daily.

Stick around!

Cheers,

~Genie

San Diego Real Estate This Minute

2009-06-25T12:52:00.000-07:00

Currently in San Diego County we have diminished inventory after a previously steady uptick in cheaper homes and way too many condos. So what’s happening today? There is nothing zippy, chippy, cool or interesting to show buyers, and what’s out there is a bit tired. There has been a slight decrease in both foreclosed homes hitting the market because there has been a decrease in actual foreclosures. There has been a decrease in homes listed for sale if the seller doesn’t have to sell. Houses have been pulled off the market when sellers can’t get their price. And the frenzy of buyers under $300,000 has subsided somewhat because of the low inventory. So all in all, this week, it’s sleepy.

There are currently (only) 6,117 houses for sale in the county. Currently, 3,180 condos for sale. A year ago we had about 20,000 homes and condos for sale.In escrow right now: 4,955 houses and 2,562 condos.Over the last 30 days: 1,786 houses closed escrow. YIKES. And only 928 condos closed escrow in the county in the last 30 days. Cough, cough.

What’s with this weird count? Well, what’s on the market may not be sellable quickly because of a short sale (avoid!) or it’s too expensive (La Jolla and Solana Beach, I am talking to you ~ ), or the property is a mess. And some properties that go into escrow don’t close. A lot, apparently.

Because this much is true: if it’s a clean house and well priced, it will sell in a week at most. There is a great pent up demand for reasonably priced property in a good location, with good schools and shopping. And with a garage NOT turned into a funky bedroom with no heat.

The hardest thing today is to get your loan. So buyers please, visit your bank before talking to a real estate professional. There is zero sense in looking at even one house, including open houses, without knowing that you can get a loan. Home buying is not a fantasy. Take yourself seriously, have someone run your credit and look at your income.

Once you’re pre-approved, then you know exactly what you can buy. We highly recommend avoiding condos at all cost unless that is absolutely what you want. If so, then make sure you get the CC&Rs, budget and by-laws of your future HOA within five days, not 10. You need to make sure there is no litigation and plenty of money in the bank to please your lender. Run these things by your lender as soon as humanly possible.

Avoid condos if you can. Houses ~ Over $500,000 and you can take your sweet time. But under $325,000? You’ll be in a bidding battle with people like yourself. Be patient.

The numbers above change at every moment. Write to us if you need current information or have a quirky San Diego real estate question we can answer for you.

Cheers!

~Genie

Open Houses Musts

2009-06-25T12:51:00.000-07:00

At Open House Genie, we dispel myths and validate facts. And it’s a fact that signs plus your online ad will work. Specifically we like as many signs as possible. This week we read a blog where the agent was using 40 signs. That’s too many! We suggest a solid ten, though.

Your greatest challenge in San Diego will be: 1) getting that sign in the ground! Bring a couple gallons of water to loosen up that dirt. Some sign posts go in the dirt, so water helps. Some signs “rest” on the ground in a triangulated fashion. We don’t care what kind of signs you use, but they should all look the same. Ten gets the job done.

When your visitors arrive, ask them how they found you. And validate their answer. And remind them of your other advertising: “I am so glad you found me at OpenHouseGenie.com. I try to use about ten signs, too, to grab everyone’s attention.”

Here’s another quick tip: If you’re closing at 4 PM, try staying until 4:30 PM. You’d be surprised how many last minute visitors are the true buyers.

Ten signs, an OHG ad, validation, stay late.

Cheers!

~Genie