$146K Price Cut, Viral Train Stunt, and a Mardi Gras Crowd

Hey, it’s Ian. Happy Saturday!

Here’s your weekly snapshot of housing, rates, and what’s happening around town.

In this week’s issue: 

• $146,000 price cut on a Fallbrook home

• A viral train stunt along the Del Mar bluffs 

• Mardi Gras kicking off at SeaWorld 

And more…

P.S. If this was forwarded to you, you can subscribe here →

Let’s dive in ↓

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DEAL OF THE WEEK

$146,000 price cut on a Fallbrook home

This one stood out to me this week.

• Full bed and bath downstairs.

• Feels like a place you stay awhile.

• Big lot and long driveway. Easy parking.

• Just over 3,000 sq ft. Rooms are spread out.

• Quiet Fallbrook streets. Close to trails and open space.

• Now listed at $1,349,000 after a $146,000 price reduction.

Interested? View full details + photos →
Want to see it? Schedule a private tour →

MORTGAGE MARKET

Mortgage rates drift higher after last week’s big drop

Source: Mortgage News Daily as of 1/16/2025

Mortgage rates nudged higher this week, but the bigger move already happened.

Last week’s drop came from a $200B purchase of mortgage-backed securities (MBS) by Fannie and Freddie, which pushed rates to their lowest levels since early 2023.

That boost has mostly played out. Since Monday, rates have been settling into a range instead of continuing lower.

Meanwhile, broader bond markets have been under pressure, with Treasury yields and rate expectations moving up. Normally, that would push your mortgage rate higher.

So far, those MBS purchases have helped cushion the impact.

Want the full breakdown? Read the full article →

QUICK POLL

Last week’s poll results: When you see a price drop, your first thought is: (331 subscribers)

• 📈 Leverage — 89% (Damn that’s a lot of you!)

• 🚩 Red flag — 11%

In all fairness, after reviewing the results a majority of the “leverage” people were in the real estate industry.

LOCAL SCOOP

5 local stories worth knowing about

Del Mar bluffs. Two 18-year-olds cited for riding atop a moving Coaster train. The video went viral. Both admitted to the stunt.

San Diego water rates. City analysis projects another 44% increase between 2028-2031. Follows 31% hike already approved.

OceanWell. San Diego-based company developing underwater desalination system off Carlsbad coast. Target: 60 million gallons daily.

La Mesa. Seven of 40 dogs rescued from a hoarding situation are now in foster homes. 29 remain in Humane Society care.

Chula Vista. Palabra Lowrider Car Club delivered care bags to Sharp’s cancer center Friday. Honoring member recovering from breast cancer.

HOUSING MARKET

Inventory Holds High as Prices Cool Week to Week

Source: SDAR MLS 1/16/2025

You saw fewer new listings this week, but inventory stayed elevated as fewer homes went under contract.

That imbalance kept active listings moving higher, even with a small pullback in new supply.

Median price dropped meaningfully from last week, which likely reflects the mix of homes closing rather than a sudden shift in value.

Days on market ticked up slightly, reinforcing that the pace has slowed a bit. More homes are sitting longer, and fewer are moving quickly into contract.

Overall, you’re seeing a market that feels less rushed and more uneven than last week.

The takeaway: compared to last week, the market feels slower and less competitive, with more breathing room as inventory remains high and demand stays selective.

Need a personalized game plan? Book a strategy session → 

SAN DIEGO EVENTS

5 calendar-worthy events next week

Martin Luther King Jr. Day | Jan 19 | Balboa Park | A reflective gathering honoring Dr. King’s legacy, community impact, and the kind of optimism that we need.

Stone Brewing Run Club | Jan 21 | Liberty Station | A casual jog, walk, or shuffle followed by beer, conversation, and zero pressure to be fast. Happens weekly.

SeaWorld Mardi Gras | Jan 24 - Feb 22 | SeaWord | Parades, live music, colorful chaos, and Cajun food doing most of the heavy lifting.

Spamilton: The American Parody | Jan 25 | Balboa Theatre | Hamilton jokes, pop culture references, and musical chaos that lands whether you love Broadway or hate it.

San Diego Restaurant Week | Jan 25 - Feb 1 | Various Locations | Prix fixe menus across the county and a socially acceptable excuse to try somewhere new

Need more ideas? See what else is happening →

Well that’s a wrap! Stay classy San Diego and I’ll see you next week!

— Ian

Whenever you’re ready, here’s how I can help:

• Need a game plan? Book a strategy session → A clear read on price, leverage, and timing before you move.

• Want to see a home in person? Schedule a day to look at homes → You’ll know quickly if it’s right.