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Real Estate Trends: North County

Owners navigate Coastal Premier through all economic tides

After almost 30 years in real estate, Susan Meyers-Pyke has gotten pretty good at steering her agency through just about any economy.

During the last downturn, she and Amy Green, co-owner of Coastal Premier Properties in Carmel Valley, thrived on negotiating short sales for their clients and other agents.

"We got into bank-owned properties and short sales, as well as our regular business in North County," Meyers-Pyke said. "So we never let any of it go and we did it really well. We started traveling around the country and meeting with banks before anybody was talking foreclosure here in San Diego.

"It was kind of a good old boys' club back then, so we worked our way in and we didn't tell any agents what we were doing because it wasn't cool to be doing foreclosures – especially in our market because it's more affluent here and people don't want to hear you're doing REOs," she said. "Then, when it became popular, we were very popular. We just sold our last short sale, so I'm pretty happy about that."

Meyers-Pyke also was happy about 2013, a good year for the office with 141 transactions totaling $117.7 million and an average sales price of $834,799. Coastal Premier is on pace to exceed those numbers this year.

Sales have been so brisk that the owners recently opened additional offices in Del Mar and La Costa.

They are actively recruiting more agents to their current roster of about 50, and added two full-time staff members last year: a property manager and social media/marketing assistant.

"It's such a great, steady flow right now," Meyers-Pyke said. "I can't see it slowing down for a while. I think we're going to be good through the end of summer, with a typical fall slowdown. I see the pent-up demand and the buyers coming in.

"I have listings lined up for the next 90 days ready to go on the market. I think the pipeline is pretty full for most of my agents," she said.

IMAGE=CPP-06-WEB.jpg WIDTH=350 HEIGHT=250 ALIGN=right CAPTION=Amy Green, left, and Susan Meyers-Pike]

Photo by Glenn Grant

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