We are still making progress on the Modern Bungalow trying to wrap this house up, but with the holidays its been hard to keep up the pace. Since my last update inside we got the central air conditioning installed, hot water heater, red oak stair treads and risers, and all the electrical trim and fixtures. The fire sprinkler guy came back and trimmed out too, installing all the sprinkler heads and bell box. There’s nothing left inside except for the tile setting while I wait for another week for the cabinets to arrive and get installed. The countertop fabricator is on standby to come right in after the cabinets, then its only hardwood floor refinishing and carpet in the 2 bedrooms. Garage door is also on order. I could have had it wrapped inside by now if I would have ordered cabinets before the drywall went up.
The new tile contractor I hired is done now with mud floating all the walls and getting into tile setting with his wife. This is the second husband and wife team we’ve had on this job, my exterior painters’ wife also was a painter. These ladies know what they are doing too, they are not just sweeping up! Instead of Hardi backer we opted for the mud float method where you do moisture barrier paper, metal lathe and then float out the walls with spec mix. The City comes and inspects paper and lath before you can start floating the walls. It gives a perfectly flat and plumb surface but definitely more work, he spent 4 days floating the walls when I could have put up backerboard in a few hours. The tile I went with in the master is a modern 12 x 24 light grey designer porcelain and I stacked it square to give a more clean minimalist and contemporary look. In the hall bath I went with the 3×6 ceramic but also opted not do do a subway pattern so it will be more of a clean look with a period material, working well with our home design. Both bathrooms got great niches in the wall for soap and shampoo bottles.
I thought by now I would have been done with the house but things always drag out at then end, time is on my side with Christmas and New Years coming up now so we’ll move in after the holidays.
The San Diego real estate market is still very hot. No signs of slowing even through the typically slow Fall season. With only a little over 2 months inventory it is a sellers market again and we are seeing bidding wars and multiple offers in all price tiers. I don’t see things changing through 2013 because interest rates will stay low and there’s no more huge waves of foreclosures coming as all the adjustable loans have reset already. Banks will continue to trickle out a few REO’s here and there, but even short sale volume is dropping fast. House flippers in San Diego will have a tough time competing with large, well funded buy and hold groups investing for appreciation. Some flippers are moving up the price range and flipping million dollar homes where there is less competition. There’s a lot of investor and first time buyer activity and prices are being affected by it, October was up 13% from last year and in some areas have reached 2005 peak home price levels again.