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David: Hi. This is David Moya. I’m here with Ryan Dalzell, from the Dalzell Group Real Estate. He’s a buddy of mine, as well as a long-time contributor on TheCarmelValleyLife.com. I’m going to make my introduction quick, because we’re trying to make these videos quick, to-the-point.
Ryan, welcome. Can you tell us a little bit about some trends that are going on right now, both in Carmel Valley and then some coastal market updates, as well?
Ryan: Sure, not a problem. I think as probably most people know, the year ended up being a real good one in 2013 for San Diego real estate and at the coast in particular. I think we’re building off of that as we go into 2014, a little bit of a rising interest rate market which actually motivates buyers to get into the market, because really, rates are still at historical lows, although they’re up from where they were a year ago.
I think one of the really interesting trends that we’re noticing with the buyers that we’re working with is that they are looking for newer homes, either brand-new construction or remodeled homes along the coast because there’s just such limited supply for those type of homes that it’s very sought after. In Carmel Valley, there’s a new community, Alta Del Mar Pardee Homes; they’re building and they are selling quickly. They’re selling, a lot of times, over what they’re asking. These are $2 million homes.
We’re also seeing it in other areas. Up the coast, especially in places like Encinitas, Solana Beach, where you do have some older homes that now are either being gutted, scraped, or going through an extensive remodel permitting process because people want to live that close to the beach. If they can get a new place that is essentially new construction, then that’s what they’re looking for.
David: You guys are helping with inventory?
Ryan: Yeah. We have a group of investors that we work with. They’re trying to find properties that need extensive remodeling. They’re going in and doing that. There’s also a lot of demand because of the demographics. I think we’ve got a lot of extended family or in-laws that are now living on the same property, so homes that have a guest suite on the property are in high demand, as well. That’s actually a very interesting component that a lot of the builders and a lot of the remodelers are trying to look at doing.
David: Wow. Thank you for that information. What we’ll do is we’ll put some links to some of your recent videos that you’ve done regarding some of your most recent rehabs, remodels, as well as some of your listings that you currently have. Ryan, thanks for being with us. We’ll be sure to include a link to your website, if anyone has any questions direct it at you and your group. Thanks again.
Ryan: No problem. Thanks for having me on.
David: Until next time. Thanks.
Ryan: See you.