Ranch & Coast Magazine

March 2023

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16.63 percent, according to Freddie Mac). "Now, as we've kind of stabilized and gotten into the new year, I think buyers are realizing the world is not ending and the housing market in San Diego, especially in North County, is not crashing, [and] the media is essentially making mountains out of molehills," observes Milligan. While Sansone acknowledges that some sluggishness on both sides may reflect a reluctance to re-enter the market at today's higher rates, especially if any current financing they have is at a lower rate, it doesn't necessarily have the impact here it might have in other markets. To put it bluntly, mortgage rates don't matter to those who aren't financing. "My people are paying cash," says Bornstein. "e interest rates don't really affect people in my price point. In the luxury market, it's not an issue." However, adds Sansone, "I think even cash buyers are still cautious about buying and making sure they're not overpaying. Buyers still want a good deal. at hasn't changed." We're Still Unique Our experts call ours a "micro-market" for a reason: What happens here doesn't always reflect what's happening elsewhere. In addition to being more resistant to the pressures of fluctuating lending rates, it's simply one of the most desirable areas to live in the entire country. "I think we're still getting a lot of influx," says Bornstein. "I'm seeing a lot of [people from] the Bay Area, a lot of L.A. e last ten deals I've done have been with people from out of the area." e gist? e "correction" has come to North County. "ere are buyers who say they're going to wait and see what happens, and quite frankly, I think they're going to be mistaken and they're [going to] look back and say 'I wish I didn't wait,'" says Milligan. "People want to move and need to move, so even if somebody buys now and prices go down a little bit, historically, it's going to go back up. We live where people vacation!" << 16827 Via de la Valle, Rancho Santa Fe 3 Bedrooms, 2½ Bathrooms 3,714 Sq. Ft. $5,850,000 Listed with Garret Milligan, Compass Encinitas (Olivenhain) 5 Bedrooms, 5 Bathrooms 6,400 Sq. Ft. $6,000,000 (sold) Listed with Bree Bornstein 16827 VIA DE LA VALLE: PHOTO BY AERIAL9 MEDIA

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