San Diego Veterans Have V.A. Loans To Buy Their Homes.

Many veterans may have forgotten the V.A. loan option.  It you are a veteran, including 6 year National Guard or Reserve you may want to find out if that V. A. loan is the best for you. With the interest rates and prices so low it would be a shame not to buy this year if you are only short the down payment. 

From the San Diego Union:
GUEST COLUMN

VA loans opening homeownership doors for more veterans
Past and current military personnel looking for financing in today’s more stringent mortgage environment can take advantage of the VA loan program, which has been available for more than six decades to help members of the military own their own homes.

The program,established in 1944 as part of the Servi...Article Continued →

You Can Buy San Diego Real Estate even if you may think your credit is not good enough.

This San Diego Uniion article shows you may be scared away from even trying when your new home is just an application away.  The key is to be able to realistically afford it.   The truth is you may be able to pay less for your monthly living by buying rather than renting.  In fact, the interest rates and San Diego home prices are so low it is time to look at buying before they turn around and you are priced out of the San Diego market.

KENNETH HARNEY Nation’s Housing

INFORMATION GAP KEEPING MORTGAGE SEEKERS FROM DEALS

...Article Continued →

San Diego Regional Construction Permits Have Healthy Jump. 

 

San Diego homes are poised for recovery.  This is a sign prices have stabilized and it is time to buy at the bottom of the market with historically low rates.

Driven by apartments, year-to-date up 59 percent but still far below boom levels, board says

ROGER SHOWLEY • U-T

San Diego County housing permit activity soared in November to levels not seen in six years, the Construction Research Board reported Thursday.

There were 586 units authorized last month, nearly four times the 154 approved in November 2010. It was the highest November number since 2005, when 801 units got the go-ahead.

...Article Continued →

Signs of improvement in San Diego Home Sales.  We are experiencing tiny, but steady, improvements in the housing sector of San Diego County.  Now is the time to consider buying with the market interest rates low and the prices flat.  Look at your New Year Resolutions now.  If you need to move in 2012 it is time to plan that move so you won't be left behind when the rates and prices increase..

REAL ESTATE

County foreclosures were flat last month while default notices dropped

Figures released Monday from DataQuick show the number of San Diegans who lost their homes to foreclosure has flattened, while default notices in the county declined last month. The data firm counted 666 foreclosures in November, down 0.1 percent from October and down 7.9 percent from a year ago. Last month’s tally is now the lowest since November 2007, when the county recorded 478 trustees’ deeds, which signal a home has been lost to foreclosure.

...Article Continued →

If you own a rental in San Diego the vacancy rates are low and the outlook is great.

REAL ESTATE

Demand for rentals is expected to grow

The rental vacancy rate in San Diego County appears to be “bouncing along” and demand is expected to grow in coming years, said a leading trade expert Wednesday, citing a recent survey.

“The message here is: The rental market is stable,” said Bob Pinnegar, the exiting executive director of the San Diego County Apartment Association.

The share of unoccupied county rentals in the fall was 4.3 percent, up from 3.9 percent in the spring but down from 4.6 percent in fall 2010, based on the association’s most-recent numbers.

The peak vacancy rate during the 2000-2010 cycle was 5.4 percent in 2009, while the low was...Article Continued →

Fantastic relief for the middle to high end properties in San Diego.  North county areas affected include Coastal, Torrey Del Mar, Highland Ranch, 4S Ranch, RAncho Bernardo, Penasquitos, Poway, Scripps Ranch, Escondido, San Marcos, Fallbrook, Hidden Meadows, San Marcos, and Vista or whenever a home needs a mortage of that amount.  This will relieve the shortage of mortages in that range making it possible for more people to buy. 

KENNETH HARNEY

Nation’s Housing

NEW LOAN LIMITS MAKE FHA TAKE ON LARGER ROLE

After a year characterized by grumpy partisan gridlock, Congress came up with a Thanksgiving compromise that could change the mortgage choices of buyers and refinancers in more than 660 markets across the country: It raised maximum loan limits for the Federal Housing Administration while leavin...Article Continued →

San Diego Real Estate values go up and down but always trend up over time.  The good news is we are bouncing at the bottom in synch with the economy.  And as the economy becomes stronger buyers become more confident and take advantage of the low prices and low interest rates.  The signs of recovery in the economic indicators for San Diego as reported in the San Diego Union. 

ECONOMIC GAUGE SHOWS STEADY RISE

Some analysts expect stronger growth in the current quarter

MARTIN CRUTSINGER

ASSOCIATED PRESS

The latest evidence that the economy is making steady gains emerged Friday from a gauge of future economic activity, which rose in October at the fastest pace in eight months.

A string of better-than-expected economic reports this month has l...Article Continued →

Make sure you know the real value of your home from reliable sources.  Do not rely only on website estimates because every home is unique.  Here is are the issues:

How to Figure the Fuzzy Math of Internet Home Values

B Y ALYSSA ABKOWITZ

WSJ SUNDAY SMARTMONEY PREVIEW

Jason Gonsalves worked hard to turn his 6,500-squarefoot stucco-and-stone home in the suburbs of Sacramento into the ultimate grown-up party pad, complete with game room, custom wine cellar and an infinity- edge pool overlooking Folsom Lake. When interest rates fell recently, Mr. Gonsalves, who runs a lobbying firm, looked into refinancing his $750,000 mortgage. That’s when he got startling news—the home had dropped more than $200,000 in value while he was renovating.

Or at least, that’s what one real-estat...Article Continued →

Good new for some who have loans they are struggling with according to the San Diego Union.

REAL ESTATE

Mortgage aid open to more Calif. borrowers

A state-run program that helps homeowners struggling to pay their mortgages now has broader eligibility guidelines, opening up help to borrowers who did “cashout” refinances and own multiple properties.

The program, called Keep Your Home California, is run by the California Housing Finance Agency. It has helped close to 8,000 low- and moderate-income households that are behind on loan payments or are close to default, the agency’s leaders said.

Keep Your Home California’s services include mortgage help for the unemployed, mortgage aid for homeowners with other documented financial hardships, relocation help for people going through a short sale or ...Article Continued →

Know why it is a great time to buy or decide to rent.  Importantly never forget the value of location, location, location.  Timing the price market may mean losing out on that special home for you.  Otherwise, know why you are renting and commit to it with confidence.  Your home is important.  Good thoughts by the San Diego Union Tribune:

Rent without regret

By Neil Fjellestad and Chris DeMarco

Fjellestad, Barrett & Shor t

Some say that local real estate prices have hit bottom, others argue that values will drop again significantly by second quarter 2012. Where there is agreement is that a generally flat condition will become the new normal. If you’re ready and able to buy, take your time and shop your options. Pick a neighborhood and a home that will suit your needs for at least five years and ...Article Continued →

The government has new guidelines you need to know about as reported in the San Diego Union.  Here is how you find out if you are able to be helped.

FIND OUT IF YOU’RE ELIGIBLE FOR HARP

Eligibility requirements

• Your home loan must have been sold to Fannie Mae or Freddie Mac before June 1, 2009.
• The loan-to-value ratio must be more than 80 percent.
• Homeowners must be current on mortgage payments in the past six months. They can’t have more than one late payment in the past year.
• Borrowers must be able to afford the refinanced mortgage payment.
• Proposed changes would:
• Cancel certain risk-based fees, leading to lower closing costs for homeowners who refinance into loans with shorter terms.
• Get rid of the 125 percent loanto- value cap.
• Eliminate the need for banks to pay for “representations and warranties,” which are in place in case borrowers de...Article Continued →
  

Appraisers are now given the tools to appraise the value of your energy efficient investments in your home.  Without these tools and procedures in place the value of solar panels and other improvements on homes were too often overlooked by appraisers.

ADDENDUM RAISES GREEN PROFILE ON APPRAISALS

WASHINGTON

Here’s some good news for homeowners who’ve gone green and installed energy-saving features but haven’t been sure whether appraisers will credit them with higher valuations: Thanks to a new industry-issued appraisal addendum, the odds have improved that they’ll get the fairer market value they’re due.

The Appraisal Institute, the country’s largest and most influential association in its field, published the long-awaited addendum Sept. 29. It’s designed to be attached to any standard appraisal report covering a property with signifi...Article Continued →

Some homeowners who are struggling with their mortgages are being offered incentives to do a "short sale".  Those of you who are struggling to make your mortgage payments should contact a real estate expert who can help you look at all of your options.  The government has several programs, and guidelins to help that you should be aware of.  One important option is a lender approved short sale.

BIG BANKS’ SHORT-SALE AND PAYOFF PROGRAM PERPLEXES

Lump-sumcash deals offered selectively to surprised homeowners

LILY LEUNG • U-T

The nation’s largest banks are luring a select number of San Diego County homeowners to complete short sales with the promise of cash, in some cases as much as $35,000 for each deal.

These incentive offers, which require l...Article Continued →

Homes in San Diego have just become more affordable.  Mortgage interest rates have dropped to the lowest recorded.  If you are one of those who have been waiting for the bottom.  This is it!  Of course rates may go down a smidge more but they are known to escalate overnight.  So, if you are wondering if you should buy now then it is in your best interest to find a lender and Realtor and discover what your options are.  Here is the encouraging news from the San Diego Union today.

AV E R A G E MORTGAGE RATES ARE AT LOWEST POINT EVER

Drop comes after Treasurys’ sharp fall, Bernanke testimony

LILY LEUNG • U-T

The average 30-year fixed mortgage has fallen this week to below 4 percent for the first time in history, said Freddie Mac’s weekly home-loan re...Article Continued →

Equity in real estate in San Diego continues to be the biggest portion of net worth for most of us.  Our homes, purchased when we were raising our children have increased in value and the loans have been paid down while tax benefits of home ownership have reduced our cost of living, continue to brighten our lives in our older years.  This article tells more of the story:

KENNETH HARNEY

Nation’s Housing

U.S. HOMEOWNERS STILL HOLD EQUITY IN THE TRILLIONS

WASHINGTON

Negative equity and underwater homeowners are frequently in the headlines, but what about positive equity in Americans’ homes?

Is there much of it left after the wealthkilling recession and real estate bust? Where is it? Who’s got equity? You might be surprised.

Anews...Article Continued →

WHAT GETS US INTO TROUBLE IS NOT WHAT WE DON'T KNOW..

IT IS WHAT WE KNOW FOR SURE THAT JUST AIN'T SO!!

------Mark Twain    

Buyers and Sellers in San Diego are caught in a the mindset that they know real estate is a bad investment at this time.  The Facts:

1. History of prices and interest rates show that this is the best time in decades to buy and it is the best time to own real estate.   The charts for both speak for themselves.  Look at the charts.
2. A close analysis of the actual cost of renting vs buying today after taxes and all considerations show owning is less expensive.  Rents will go up as the economy strengthens.  If you own your own home you can make the changes to ...Article Continued →
   

Can you lower your interest rate and payments or not?  Refinance?   If you are able to keep your home even though your mortgage is higher than the current value this article in the San Diego Union may help.  To help you with those payments we offer one more thought.  When you have more than one mortgage you may want to refinance the first mortgage to bring down your interest rate and payment.  Your ability to do that is based on the loan to value ratio for that loan by itself.  Most important at this time is to consult with your loan professional to determine your options.

SHOULD I, CAN I REFI

With the right credit scores and other numbers, refinancing themortgage can be a wisemove

LILY LEUNG • U-T
Dan Fox and his wife, Mildred, have refinanced their mortgage not ...Article Continued →

5 Keys To Buying A Home In San Diego  

1) The best time to buy is when others are not.  

2) Real estate has up and down cycles but always tend up over time.   If the home you want to buy is available in the right location, at a price you can afford over time, and we are in a down market, why not buy? 

3) We know interest rates are low at this time but they can change quickly. 

4) Because most families move during summer break from school schedules, homes on the market during this time of year have sellers with higher motivation.

5) Fear stops many from buying.  Facts overcome fear.  Find out the facts from your trusted real estate advisor.

1)   Are you thinking of real estate as a full time career?  How many hours are you going to devote to it?   Where will you work?  Granted, many agents become proficient and after that can work in a home environment but most need the stimulation, educational, and support benefits of an office.

2)  Are you willing to take the time to learn the laws, marketing, appraising, financing, managing, contracting, systems, and procedures of real estate?  And are you willing to keep up with all of these during your whole career? 

3)  Are you willing to be a good listener and problem solver while people you are trying to serve are emotionally and often fearfully involved in the purchase or sale of their homes.  Are you willing and able to be the "calm in the middle of the storm"?  Remember emotions run high when people are forced by circumstances to move from a home they have lived in for yea...Article Continued →

This major report on San Diego shows measureable improvements in our economy.

ROGER SHOWLEY • U-T

For all the doom and gloom in many economic forecasts, Beacon Economics analysts Tuesday painted a relatively rosy outlook for San Diego County.

“The economic outlook for San Diego has turned the corner and is on the path to grow again,” economist Brad Kemp said at Beacon’s third annual regional forecast breakfast. He and his colleague, economist Christopher Thornberg, said the chance of the national, state or local economy falling into recession again is remote.

Beacon is a Los Angeles-based economic research, forecast and data service firm, led by Thornberg, who chairs the state cont...Article Continued →

Another indication buyers of homes are in a once in a lifetime position in San Diego. 

This analysis by a respected Real Estate Professional in the San Diego Union today is another reason for homebuyers to join those now purchasing real estate.  He points out that your real estate professional is your best source for purchasing a home today.  He or she can give you the information you need when picking the right home for you.

GUEST COLUMN

The view from the saddle

“Mortgage Rates Lowest in Years!”“Foreclosures on the Rise!”“Housing Market Stabilizing!”“Short Sales Decline!”And of course,“Brad Pitt’s Bachelor Pad Lists for $13.75 Million!”

Maybe it’s time for some good, old-fashioned horse sense.What do headlines like these really mean to the realistic ...Article Continued →

Realty Experts is looking for only those special people who have a passionate desire to be a successful  Real Estate Agent in the North San Diego County area.  Honesty, highest ethics, and commitment to the highest level of service are mandatory. We train you in all aspects of Real Estate.  Please call Joe Cobb at 858 967-8801

A good tenant is sometimes hard to find.  Advertising and qualifying is key.  You will find one of your best ways is to put a for rent sign on the property.  It is important to have that sign up as soon as you know your existing tenant is moving.  The phone number on the sign should be your personal cell phone.  One of the most effective places to advertise is with Craigs list. 

Once you have found someone who wants to rent it is important to have them fill out an application and an authorization to run a credit report and background investigation.  Here is what to look for on the application:  A longer term employment history with his or her employer or in the same field. Enough varified income to pay the rent.  Always call their past landlords to make sure they were good tenants. 

...Article Continued →

This well written article in the San Diego Union compares the true cost of renting verses buying in todays market.  It gives you three comparisons that are compelling enough.  I will add a fourth;  It is a pride of being able to live somewhere called home and change and improve that home without the approval of a landlord.  That "nesting" ability comes without a landlord who can ask you to leave or pay more rent.  It is called "pride of ownership"  In my nearly 70 years i have seen the wonderful benefits of home ownership for my own family and friends and hope this article helps you see the possibilities for your family.  Joe Cobb

...Article Continued →

Renters Can Buy a Nice Home Today!

This fantastic FHA 203k loan gives you the money to fix up your new home even above the price you paid.  This article is a well written description of just one of the tools you can use to afford that home you otherwise cannot buy. 

GUEST COLUMN From the San Diego Union Tribune

The 203k mortgage

Real estate consumers today can find ample value in distressed homes — properties that are under a foreclosure order or up for short sale.In many cases,however,“ distressed” speaks more for the condition of the homes than their recent financial histories, as they’ve sat empty for extended periods and have been subject to vandalism and theft.
...Article Continued →

Our local San Diego homes are showing strength of our region:

 

CARMEL VALLEY IS HOUSING HOT SPOT

Coastal community drawing high-paid tech workers as well as move-up buyers

LILY LEUNG • U-T

San Diego software engineer Paul Xu and his wife, Yaling, are expecting in December, so they’re scouting for something newer and bigger than their circa-1990s home in Mira Mesa to fit a growing family and Xu’s parents.

“We need more bedrooms,” said Xu, 36, as he walked through model homes starting in the $600,000s on a recent Sunday with his father, Min, and two family friends. “We’re also looking for good school districts ... and good neighbors.”

Thefirst area thatcameto Xu’s mind was Car...Article Continued →

Comment:

The following article is addressing California wide housing and includes  good news for San Diego home recovery.

NEW HOUSING CONSTRUCTION SLIPPING

Projection for state shows bare increase over 2010’s low levels

ROGER SHOWLEY • U-T

A hoped-for rise in home building is fading, according to the Construction Industry Research Board. The July statewide projection for the year shows only 46,700 units approved by local agencies, less than 2,000 higher than the 2010 level. The total in 2009, 36,421, was the lowest one-year total for building permits in the last 60 years.

The July count presages the rest of the year, and it was driven down further by developers who obtained more permits than usual because they faced a July 1 deadline to comply with new building codes, the Burbankbased research board said.

However...Article Continued →

FORECLOSURE FILINGS IN SAN DIEGO DROP IN JULY

LILY LEUNG • U-T

Foreclosure filings and mortgage defaults in San Diego County fell in July, continuing an erratic pattern of distress, Monday’s DataQuick report showed.

Last month, the county posted 1,274 notices of defaults, down 5.8 percent from June and down 23.4 percent from a year ago.

Those notices mark the first step in the foreclosure process. They peaked at 3,832 in March 2009 and have gone through unpredictable fluctuations for years.

DataQuick numbers show 798 county homes were foreclosed on in July, down 15.9 percent from June and down 10.2 percent yearover- year. They peaked at 2,004 in July 2008.

The La Jolla company’s data are based on public records for single-family homes and condos.

...Article Continued →

NEW YEAR BRINGS CHANGE FOR SOME LOCAL SCHOOLS

Campuses will get new buildings and amenities

Some students have already returned to school and others will start this week or within a week. Many North County school districts are undergoing changes during the new academic year. Here’s a rundown from some of the larger districts in the area:

Carlsbad Unified

Carlsbad High School students will hit the books in fresh classrooms when the campus opens its new classroom complex in December. The school’s wrestling team will also have a new home in November when it moves into the new wrestling building that is half finished.

Other districtwide additions include a new food service sales system set to go live in November, and new fencing at Buena Vista, Kelly, Magnolia, Jefferson, Pacific Rim, and ...Article Continued →

Tuesday, 16 August 2011

SUMMER SLUMP SEEN IN DECREASE

IN COUNTY HOMEBUYING IN JULY

DataQuick reports 11.7% dip in sales and 1.5% in prices over a short month

LILY LEUNG •U-T

San Diego home prices and sales fell in July, not atypical for the summer months and likely due to fewer business days last month, according to Monday’s report from La Jollabased real estate tracker DataQuick.

...Article Continued →

The Six Keys To Real Estate Investing:

 

First,  You must be motivated. Real estate investing includes effort and patience with tenants and  maintenance personnel as well as work you may choose to do to improve your return.  It is not for the everyone.  The good news is you can hire someone to do most of that work for you.  A good property manager who has the experience, knowledge and training is mandatory. 

Second, You must study, read books, consult, and learn the best approach for your personal circumstance.  A good real estate investment counselor  and real estate expert is your best source to help guide and mentor you.  You must choose someone you can trust and stay with them as you grow your investments.

...Article Continued →

A bright spot shows nondistressed sales are moving up

LILY LEUNG • U-T

San Diego County’s overall housing market stayed “sluggish” in the second quarter of 2011, but nondistressed sales saw a “healthy rebound,” according to Thursday’s report from the University of San Diego’s real estate center.

In a separate report covering July sales and prices, the San Diego Association of Realtors also shared mixed results.

The USD paper said the county recorded 8,839 sales in the second quarter, a 20 percent increase from the first quarter but fewer than the same quarter in 2010.

That data was collected from Honolulu-based Collateral Analytics and presented in a report by Norm Miller, Charles Tu and Lou Galuppo.
 

...Article Continued →

For release:
July 15, 2011

CALIFORNIA ASSOCIATION OF REALTORS® applauds Gov. Brown on signing SB 458 into law

LOS ANGELES (July 15) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds Gov. Jerry Brown on signing SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans.

Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.

...Article Continued →

 

Home flipping, property taxes and mortgage relief were the big talkers this week in real estate.

...Article Continued →

Some unemployed homeowners who are struggling to stay in their properties could be allowed to miss mortgage payments for a year as they're job-seeking, through Obama administration reforms announced on Thursday.

The changes, to start Aug. 1, are expected to help tens of thousands of borrowers, Housing Secretary Shaun Donovan told the Associated Press on Thursday.

One of the changes requires servicers to extend their grace periods for qualified FHA borrowers from four months to 12 months.

Administration officials also will require loan servicers taking part in the federal government's Making Home Affordable Program, which aims to prevent foreclosures, to extend their grace periods for eligible out-of-work homeowners from three months to 12 months.

"The current unemployment forbearance programs have mandatory periods that are inadequate for the majority of unemployed borrowers," Donovan said, in a media release.

Unemployment re...Article Continued →

Google+, Google's +1, and how Social Media is ever changing.

Not too long ago there were rumors in the online community that Twitter was for sale. Google and Facebook were looking to buy Twitter and integrate it into their existing services. Google Wave had released Buzz ,which was an attempt to merge Twitter like Micro-Blog Technology with their existing Gmail Service, it never truly took off. Facebook had taken similar steps to make "Status" messages replace Twitter on their provided service, however what ended up happening was people started using Twitter and Facebook to syndicate their Micro-Blog posts.

So what is a Micro-Blog? Before Social Media was even a whisper in the back of some programmers mind, the internet had already become a tool for anyone to say anything at anytime. Forums, discussion groups, and blogs sprang up all over, some bulletin board systems extend all the way back to the earliest days of the internet. Often time these earliest of blogs were either personal ...Article Continued →

The 2011 assessed value of taxable property in San Diego County is up from last year, the first year-over-year increase since 2008, said County Assessor Ernest J. Dronenburg Jr.

The uptick of 0.51 percent, or $2 billion, over last year's tax roll indicates that "the market is flat," Dronenburg said.

The County Assessor's Office calculated the total assessed tax roll at $395.7 billion, generating roughly $3.9 billion in property taxes, or 1 percent.

Factors that contributed to this year's increase include: a decrease in residential appeals, new assessments of homes that changed owners and new construction activity, Dronenburg said.

All 18 cities in San Diego County saw assessed value increases this year, except three: Carlsbad,Chula Vista and Imperial Beach. Cities with the highest increases in tax roll were Del Mar and Solana Beach.

The average increase in individual assessed value was 13 percent. Dronenburg gave the following hypothetical example of how much m...Article Continued →

Home flipping follows an assembly–line process. Investors who work in teams scout for bargains, close quickly with cash, gut and beautify, and market the homes to agents – all while the timer's ticking. If everything goes right, their money and muscle will yield enough profit to keep that machine churning.

"It's not for the weak of heart," said Chief Denney, a Rancho Santa Fe investor whose company Compass Real Estate Capital will flip 100 homes this year. "It looks easy… but it could be disastrous for someone who doesn't know what they're doing."

Flipping during the housing boom generally required little skill or effort because soaring home values did most of the work. Flippers today must rely on research, persistence, and in some cases, hard–money lending, as median values are almost 37.3 percent below their 2005 peak and most of the buying opportunities are in distressed homes.

Despite the usual risks of flipping — from hidd...Article Continued →

Every month, the Obama administration releases a scorecard that looks at progress in the housing market, mainly the performance of government loan modifications.

Here are some key takeaways from June's report of May figures:

10) The report says the country's housing market remains "fragile" and economic indicators show a "mixed picture of recovery."

9) Fewer homeowners are filing for foreclosure. Going into June, 4.3 percent of prime mortgages were at least 30 days late, down the 2010 peak 6.69 percent.

8) Delinquent subprime mortgage were at 32.5 percent, falling from 36.4 percent one year ago.

7) Delinquencies considered serious, 90 days or more, also fell. They declined by 22 percent from the peak of 1.9 million last year.

6) More than 32,000 more homeowners permanently modified their mortgages through the Home Affordable Modification Program, also known as HAMP, bringing the total to 730,000-plus.

5) The...Article Continued →

Home prices in San Diego stopped their slide in April after falling seven of the prior eight months, thanks mostly to the start of the summer home buying season.

But the local housing market still doesn't appear to be on solid footing, according to a widely watched housing index. San Diego home prices remain 4.3 percent below levels seen in April 2010. April prices locally were roughly equivalent to August⁄September of 2009.

Last spring, a federal tax break for first time home buyers expired, and that clearly has played a role in the year–over–year price declines, say industry experts.

Still, the trend of falling prices – coupled with continued high unemployment and a weak economic recovery –– has raised concerns about lingering weakness in the housing market. So news that prices actually increased in April is seen as positive.

"What we're seeing is pretty flat house prices," said Gary Painter, a USC professor and director o...Article Continued →

The devastating wildfires of 2007 burned twice for Janice and John Strizver.

There was the the initial, horrific loss of their Ramona home consumed by fire. And then came the slow, angry burn on realizing that their insurance payout would fall far short of the cost to rebuild.

Now a new set of state regulations, which went into effect Monday, seek to combat the problem of underinsurance by imposing a uniform standard for the way insurance companies and brokers estimate so-called "replacement value" when a homeowner decides to buy or renew a home insurance policy.

Strizver, whose insurance company paid only $360,000 of the $700,000 cost to rebuild their 3,500-square-foot home, said the reform is "absolutely needed."

"We'd had the same insurance and the same agent for 20 years, and they assured us that we had more than enough coverage," said Strizver. "I'm a nurse and my husband is a computer programmer, what do we know about insurance? That's why we had an agent.

...Article Continued →

What is Social Media Marketing, and how does it apply to a Small Business?

Marketing now days is full of buzz words: Web 2.0, Viral, Social Media, Guerrilla, SEO, SERPs, Facebook, LinkedIn, Twitter, to name just a few. But finding out what is useful to your situation can be a bit of an art. Being a Real Estate Agent, is like running a small business, and so these tools and buzz words are becoming things you need to understand.

First off forget Viral and Guerrilla Marketing, unless you run a Skateboarding, Surf or Tattoo shop, on the side of your Real Estate business, these aren't really going to help. Viral Marketing was largely made popular by YouTube and the early Days of Twitter. Often we talk about a Video "going Viral", but again they are either a funny video of a cat riding a turtle, or some BMX guy doing a trick. Even with Twitter, Viral messages still have a tendency to stay in the Counter Culture range of business.

Guerrilla Marketing is a tactic used by very small companies w...Article Continued →

San Diego County housing permits dropped 74.3 percent from April to May due to a lull in apartment construction, the Construction Industry Research Board reported Thursday.

But nonresidential activity was up and led the state in a rebound.

Statewide, the residential picture was brighter and enough for the board to project a 14.8 percent increase in permits this year and 73.2 percent from 2011 to 2012.

However, if these projections hold up, 2008-2012 would generate less than 100,000 units annually for the first time since the last major recession, when there also was a five-year slump from 1992 through 1996.

Here are details on San Diego from the May report.

Residential: Total permits authorized by local jurisdictions -- the 18 cities and the county government -- were 220, down 74.3 percent from April's 857 units and off 50 percent from May 2010's 438. Single-family units were up by from April and May 2010, but the volatile multifamily co...Article Continued →

Homeowners in California have less than two weeks to get a carbon monoxide detector installed in their homes.

A new state law that goes into effect July 1 requires the devices to be installed in all single-family homes that have an attached garage, fireplace or a fosil-burning heater.

The detectors of the odorless, colorless gas can be bought at hardware stores for anywhere from $20 to $90. The bill requires that devices sold are certified by the Office of State Fire Marshal.

The State Air Resources Board, a regulatory board at the California Environmental Protection Agency, estimates that carbon-monoxide poisoning causes 30 to 40 deaths every year in California. The board said inhalation of the gas has led to about 175 to 700 emergency room and hospital visits within the last three years in California.

But not everyone has to install the detectors by July 1. Owners of other dwellings, such as hotels, apartments and dormitories, hav...Article Continued →

The Union-Tribune on Monday brought you a synopsis of Harvard's annual housing report, which explained the potential impact that baby boomers and those in their 20s will have on the residential market.


Today and Wednesday, we'll continue to break down the 40-page paper from the university's Joint Center for Housing Studies.


Today we're drilling into how age and immigration will affect homeownership in America.
 

...Article Continued →

Baby boomers looking to downsize and young adults who can afford to finally move out will be key drivers of the residential recovery, saysHarvard University's state of the nation's housing report, released Monday.


The U.S. home recovery, expected by many industry leaders to come around slowly, in the meantime has been hampered by declining prices, high rates of foreclosure in states such as California and people faced with negative equity.


"The state of the nation's housing is sobering," said Eric S. Belsky, the managing director of the Joint Center for Housing Studies, which wrote the report. "Total housing construction over the previous decade now barely exceeds the lowest level of any ten-year period in records dating back to ...Article Continued →

San Diego foreclosure trends in April and the re-arrest of an attorney who advises clients retake possession of their foreclosed homes were the two big real estate items in the U-T this week.

Here's our weekly look back on real estate news and look-ahead to give you a head-start on the week.

Monday: Foreclosure attorney Michael T. Pines was was arrested in connection with several felony and misdemeanor counts that involve stalking, filing false crime reports and practicing law with a suspended license, authorities said. Pines, 59, whose license was suspended in April, was arraigned Tuesday in the Vista courthouse and is being held on a $227,000 bail. He maintains his innocence. His preliminary hearing is scheduled for May 31.

...Article Continued →

Homes in San Diego County will always be a good investment on the
long term despite all the bad news.  This last decade has shown that
loose lending practices promoted by the government, lenders, and even
realtor groups with the good intension of increasing home ownership
failed.

San Diego Union Tribune

San Diego homeownership drops in past decade

BY LORI WEISBERG

A prolonged housing crisis and recession erased all of the homeownership gains of the last 10 years, leaving San Diego Countywith a lower proportion of owners than at the start of the decade, new census figures show.

...Article Continued →

This is very important information for the young people who want to buy homes in San Diego.

FOR YOUNG BUYERS, HOUSING BUST IS A BOON

ROBERT J. SAMUELSON

Newsweek

If you're a 20-something or even younger, your economic future is at best clouded.

Your taxes will almost certainly be higher than today's; your public services (schools, police, sanitation, defense, scientific research) will almost certainly be lower. Paying for old people, covering rising health costs, repairing dilapidated roads and servicing government pensions and the huge federal debt will squeeze take-home pay. Is there any hope for economic gains?

Well, yes – and from a surprising source. Housing.

Say what?

Almost everyone considers the housing collapse a disaster, and it is. Since 2007, roughly 8 million homes have gone into foreclosure.

Housing prices, according to the widely cited Case-Shiller index, are ...Article Continued →

This is an interesting read.  I believe that the latest changes to lending are going to make it easier for and more likely that, consumers will compare. 

Kenneth R. Harney

More home buyers should put faith in good-faith estimate

What if the federal government spent years designing a tool to help consumers shop intelligently for mortgages — comparing lenders’ rates, terms and total settlement costs — but consumers ignored it or didn’t use it?

No need to speculate here; it appears to have happened. A new survey of 1,000 American consumers suggests that the ‘good-faith estimate” (GFE) disclosures that all home buyers and refinancers receive at loan application to facilitate shopping are not getting the job done.

Federally mandated good-faith estimates spell out the lender’s charges, all anticipated fees for title insurance, escrow and settlement services, plus other key costs. The mo...Article Continued →

POLITICS ASIDE, WE'RE UNDER-TAXED

Federal rates for America's rich and poor have fallen below historical standards

KEVIN G. HALL

MCT NEWS SERVICE

WASHINGTON

Here's a dirty little secret that most Americans don't want to hear: We're undertaxed.

That may sound like heresy; nobody wants to pay more taxes. But by historical standards, what we pay in federal taxes — rich, poor and everyone between — has gone down.

At a time when Washington is wrestling with how to end federal budget deficits and trim the national debt — huge questions that are expected to dominate the nation's politics through the 2012 elections — the fact that Americans are undertaxed compared with U.S. historical norms is central to the discussion.

This fact is separate from the politically charged questions of whether government spends to o much, the fairness of who pays how much and w...Article Continued →

     We are here to assist in your Leasing and Management of Investment property of all sizes. 

     Whether you have a condo or home to manage or larger residential or commercial property to oversee we want to help. 

     We do not know if we can help until we find out your own unique situation.   If you are interested in a no cost, no obligation analysis please fill out our form below and an expert will contact you.

Steps to washing your home effectively:

    Step 1. Get a preassure washer
    Step 2. Spray house
    Step 3. Finish up, put the washer away, find dry clothes and then yell for your significant other as if something stupendous has just happened and gloat shamelessly at you accomplishments.

3 1/2 percent is the:
Average rate of growth expected this year in U.S. home-improvement industry.

The gain, which follows a decline that started in the third quarter of 2007, may come as property owners who scrimped during the recession spruce up kitchens and bathrooms. Spending probably will rise 9.2 percent to $125.1 billion in the first quarter from $114.6 billion a year earlier, and 13 percent in the second quarter, according to Harvard University's Joint Center for Housing Studies. Spending fell to a six-year low of $112 billion in 2009. The center measures data including hours worked by remodelers and retail sales at building materials stores, according to Bloomberg News.

Continue to read on here: San Diego Union Tribune

Great information for home-owners, home-buyers, and everyone in between!

Mozilla has long been the number two web-browser, becoming one of the first major market share holders against Microsoft 's IE, in what some call the 'Second Web Browser War' that begun in the late 90s. In the last ten years it has become a crowded Internet, with several browser being currently available for use. Another power player in the Browser war is Google's : Chrome, which has been competing with both Microsoft and Mozilla for a major share of the market.

However Firefox 4 is here, and it seems Mozilla is looking to reclaim some of its position as number two, before Chrome gets a chance to edge it out any further. This launch come hot on the heels of Microsoft's own IE9 and is set to make full use of HTML 5. For a more in-depth look at the launch and how Mozilla is looking right now check out this article on BBC's Technology news page.

Important Info for all Buyers, Sellers, and Agents!

A look at what San Diego has to offer after 55!

The investors have been having a thriving business picking up foreclosed properties and short sales in lower priced areas. Many of those best buys have disappeared or are on their way out as prices have risen. The flip investors have renovated and resold much of that inventory thus raising the values of those properties.

We are still left with some great opportunities in the lower, middle and higher price areas that are great for home buyers who intend to live and raise their families in a nice neighborhood.

The nicer the neighborhood the more demand there is for a property which translates into price. (Supply and Demand) Most importantly, if you find a home that is perfect for your family and is in the best location you can afford you should waste no time in purchasing it after comparing it to others on the market. If it is that good someone else will soon find it and it will be gone.

If you are a seller who wants to buy a better home of higher value you ...Article Continued →

Market Update as of January 2011:

Real estate in San Diego County generally reached the bottom prices last year and has been climbing slowly month over month. The volume of sales has decreased but is expected to pick up when people realize they should take advantage of the lower prices and comparatively lower interest rates. The interest rates seem to have reached the bottom and have climbed as the economy shows signs of recovery.

The crystal ball does not show the future but most experts know and expect the interest rates and prices to continue to rise over the next several years.

Combined with prices and interest rates the term "location, location, location" best describes value and opportunity today. Now is the time to buy the right home or property in a great location.

Joe Cobb Broker
Realty Experts

We are here to assist you in your transition from just owning a home to becoming a Real Estate Investor with the focus on building wealth and net worth through real estate.
Everyone knows how real estate was involved in this last recession but there is another side.

Real estate held for the long term with knowledge and use of the IRS 1031 Code can mean substantial net worth and income for retirement in later years.

Joe Cobb Broker
Realty Experts

Mortgage loans are vital to the purchase of most real estate.

Residential loans are based mainly on the credit history and income of the buyer.

You and the bank must know your income and expenses, and that you can be counted on to repay the loan amount. This is subject to or modified by the terms of the loan you are borrowing. The recent and ongoing lending crisis taught us all how important this simple concept is. A fixed rate mortgage is the most conservative and the best in most circumstances. For the best loans banks require 20% down, strict credit history, and confirmation of earnings.

Commercial and investment loans are based mainly on the sustainable income and expenses related to the property being purchased.

When you buy, the verifiable income of the property is represented by leases which are seasoned with rate ter...Article Continued →

 

"Home" A place of solice, comfort, and peace. A place to rest, to dine, to rejuvenate, to play, to interact with friends and family.

At Realty Experts we are your partner in real estate. We help you look for and acquire the house that can be your "home". Whether selling and buying or buying for the first time we are here to help.

To accomplish this we listen, counsel, inform, and guide you. We are your servant and mentor in the process.

Our goal is to give you the service you need in such a way as to earn your continued trust in all your real estate needs and to give you the confidence to refer your friends and relatives to us.
Now is the time to buy, or sell in order to buy that future home you have always wanted. Interest rates and prices are still low but just beginning that ...Article Continued →