Seth O’Byrne brings passion to San Diego market
Seth O’Byrne of Pacific Sotheby’s International Realty has been a real estate professional long enough to know that change is inevitable. How the market deals with change is his job — and passion — and he’s excited for what the next few months will bring.
Q: What is the summer market going to bring?
A: We have been saying for the past six months that the summer market is going to be warm. I think this year the balance of power will shift slightly towards buyers, however it will still be a typical Southern California sellers market. The reason we think the market will not perform as the 2014 summer market did is because inventory is rising as sellers see the great prices we have now and buyers will become more price-sensitive as rates continue to rise.
Q: What do you expect to see rates do this summer?
A: I believe rates will start climbing in late spring and continue on into the fall. This is needed to get back to basics and though the overall economy is not where some analysts would like to see it. I think 4 percent will be a thing of the past by Thanksgiving. So buyers who are payment sensitive should try to hone in on the right home sooner rather than later. This is also critical for move-up buyers; this spring would be a good time to trade up while buyer activity is high for their homes and rates are still low while they apply for new mortgages.
Q: Are there any special projects you are working on or past accomplishments of note?
A: We are very proud of our customer service. Without great service, everything we do is for naught. So we poured our energy and resources into building the most client-friendly and service oriented transaction management system in the industry. Our clients know at all times, from any place on the planet, where they are at with their home sale and what our advice is. We have never been more available, more current and more committed to our clients’ satisfaction.
Q: What was your last notable sale?
A: We have a section of our website that details our “Notable Sales” actually. We always have many high-end properties under contract. Recently, we listed a very prominent home in Mission Hills for $2.6 million that was owned by the Crabtree Family. It was historically significant and we had a lot of fun marketing it. We are just now listing a custom home in the Cielo community of Rancho Santa Fe for $4.25 million, which our client built himself. It is truly magnificent. We are very proud to market some of San Diego’s most prestigious homes. At the same time, we have a wide set of clientele and we position ourselves as lifelong Realtors.