San Diego, CA Real Estate News

By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
And it's about time!The Senate Finance Committee is  considering changes in the way 1031 real estate exchanges have typically been accomplished.Under consideration is elimination of the 45-day identification of the replacement property, Under the proposed plan, 1031 exchangers would have a full 180 days to identify, purchase and close on the replacement property.I am preparing to write a string of emails to our comgressman and senators about this issue and a couple of others. I believe we have an obligation to speak out on behalf of our clients.
Comments 11
By Gary Giffin
(Real Estate Buy Sell Invest www.SanDiegoHomeSold.com)
Foreclosure filings in San Diego County doubled during the first three months of this year over the same period last year and increased sixfold over 2005, according to a survey released in April.For the month of March, county properties in some stage of foreclosure climbed by 49 percent from February to 2,551, the highest one-month level since the real estate market began to cool in 2005, according to RealtyTrac Inc., an Irvine foreclosure listing service in Irvine. That figure represents one in every 408 households.During foreclosure, a mortgage holder such as a bank or mortgage lender takes legal steps to seize property from an owner who is in default, or behind in making payments. Of the 2,551 properties in the county, 1,998 were in default, 415 were on notice the property would be s...
Comments 2
By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
Yesterday, we received a troubled call from a young man who was way over his head in mortgage debt. He is between jobs, living with his parents, and has no savings to support a $1.2 million mortgage--on a home located more than 100 miles away.It took time to ferret out the facts of this complicated story, and it only got worse with the client's telling.John's Story: 1. John purchased the property with the aid of a silent partner earlier this year. He was told that his 780 FICO score would allow him to purchase a $1+ million home with no money. In fact, the partner promised to pay John $15,000 at close of escrow and further promised to make the first three mortgage payments ($21,000).2. Remember, John had no savings. No problem. John was told that the mortgages (first and second) would b...
Comments 50
By Adam Pascu, Realtor - San Diego
(Keller Williams Realty)
2007: First Quarter for San Diego real estateStats on the main players in the real estate marketplace: 1. Inventory for detached homes throughout the county went up about 30% during Q1 20072. Foreclosure rates are near an all-time high. Read an article3. We've had 21,066 new listings in Q1 2007 compared to 23,534 from Q1 2006 & We've had 6067 closed sales in Q1 2007 compared to 6794 from Q1 2006. Read stats from the SD MLS4. Average rents for all types of (rental) units increased 5.8 percent over last year (Union-Tribune, 1/16/07)5. Interest Rates have remained steady. From the Federal Reserve website6. Demand to live in San Diego is very high. Read an article A discussion on these market factors:Inventory:This is pretty cut and dry economics - supply vs. demand. With a higher supply th...
Comments 3
By William Johnson, Retired Real Estate Professional
(Retired)
The San Diego Real Estate market gets it share of negative publicity but lately it seems that the press have backed off a bit and things really are normalizing. The market as they say is just the market. We needed a cooling off period to allow some to adjust from one of the hottest real estate temperatures any where in the country. Yes, that 's right we needed a cooling down period to get to a more normal market of supply and demand. The feeding frenzy slowed down and people ( both Buyers and Sellers )are better able to take stock of their prior and upcoming buying decisions. Sellers who made a bundle over the last number of years have had to adjust and now must provide a quality well priced product to be competitive. Read the rest of the story »
Comments 6
By RealEstate Spanish Liaison
(Casas l.l.c)
LOCATION! LOCATION! LOCATION! : 3-1 in San Diego: Buena ubicacion Location: Normal HeightsLocation: 38th Street & Monroe Avenue, San Diego, CA 92116 Open House January 11th, 12th, 13th,14th. 2pm- 6pmC^ A^ L^ L===((760-877-6763))===D^ I^ R^ E^ C^ T^3 bed room/1 bath house for rent in Normal Height, San Diego, CA. Available immediately. Within walking distance to grocery stores, restaurants & shops. Location close to everything. Normal Heights is known for its affordable pubs, restaurants, coffee houses, smoke shops, antique shops, book shops, and burgeoning arts community.Free information at:http://en.wikipedia.org/wiki/Normal_Heights%2C_San_Diego%2C_CaliforniaSingle Family Home Pets Allowed: Yes Rent: $1,380.00 Deposit: $1,400.00 Lease Term: 1 year prefered This house offers: ? Ceramic...
Comments 1
By Rafael Perez
(iMortgage)
Recently I have seen articles stating that "Mortgage Planners" are just loan officers who paid a fee to be members of some certification company. I have also heard of people being told that a "loan officer" and a "mortgage planner" are the exact same thing. My opinion is as follows (Please keep in mind that most loan officers have the best intentions for their clients and I am in no way intending to demean any loan officers. My intention is only to illustrate observations I have made through my personal experience in the mortgage industry. )LOAN OFFICER:1. Loan Officers usually advises clients on away to "save money" such as paying a"lower monthly payment" by consolidatingcredit2. Loan Officers base the prequalificationprocess on "shopping" for the best rate andpayment for the loan stru...
Comments 6
By William Johnson, Retired Real Estate Professional
(Retired)
                                              The  National Association of REALTORS will meet here in San Diego and for the first time in November 2009. I think San Diego has finally matured as a major city and travel destination with the advent of the expanded and improved Convention Center. I personally am thrilled and hopefully , we ActiveRainers could also pull something together and have a big networking meeting and maybe even a workshop or two. I think it would be a great idea and it would be fun to host both groups here in San Diego. The weather will be warm and sunny. I have already started to pray to weather Gods so it will be perfect here. What ActiveRain does as a social network could be well benefited by so many ( estimated that 20,000 + ) attendees (our colleagues) that wil...
Comments 19
By Lisa Hayashi, Retired Realtor
(Award Referral Network Inc.)
I recently went to an investor's club meeting and the speaker was talking about how investors could buy short sales as high as 60% off the market value. When they introduced him, they said that he had been dealing in short sales for 2 years now and those were the type of deals he claimed he was able to make. They also mentioned that he has not invested in the last 8 months and has been too busy teaching his purchasing methods. I'm not saying it's not possible, but I believe it's also not as easy as he made it sound. Most of his methods dealt with contacting the distressed owners directly, so he did sound like he was attempting to teach his students how to take advantage of homesellers in financial trouble.It's entirely possible he was able to make deals happen at one time, but I believe...
Comments 0
By William Johnson, Retired Real Estate Professional
(Retired)
The sky it seems is not falling around the ears of San Diegans, at least as far as property rents are concerned.Investors take heed, your time may be here again! All those condo conversions that the San Diego City Council felt were going to doom the city forever are proving not to be as big a factor as they predicted. Availability of rentals even after 10,000 apartments were condominiumized has increased and the tenants who had little choice but to pay ever increasing rents have enjoyed about an 8 % drop in rents citywide.The condo conversions actually accomplished two important and positive things. The first was that the remodel of these older out of style and functionally obsolescent buildings that have measurably improved.The enhanced visual characteristics are testimony of these old...
Comments 6
By Lisa Epstein
(Jay Epstein State Farm Insurance)
As many of you are aware, this morning, New Zealand's Central Bank - their equivalent to our Fed - hiked rates to cool down their strong economic growth and fight inflation.  Australia will most likely follow suit, and the European Central Bank hiked their rates just yesterday.  The bond market is taking a beating and seems to be in a downward spiral.  The Bond market lost 90 basis points today as traders sold off US Bonds and bought foreign bonds where they can get a higher rate of return.  What this means in terms of interest rates is that they are going to climb - higher and higher until something happens more favorably in the US Bond market.  And to make this more personal - if you (or your clients) are in an adjustable rate right now, it is time to lock in - hopefully you haven't a...
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By Dara Chantarit
(Windermere Exclusive Properties)
.flyertopmenu {font-family: Verdana, Arial, Helvetica, sans-serif;font-size: 12px;text-transform: none;font-weight: normal;border: 1px solid #C0C0C0;width: 50px;text-align: center;}.flyertopmenu a {color: #006600;text-decoration: none;width: 50px;height: 20px;background-color: #FFFFFF;padding: 2px;}.flyertopmenu a:hover {color: #006600;text-decoration: none;background-color: #C0C0C0;width: 50px;padding: 2px;}DetailsFeaturesPhotosSchools/City DataMapCalculatorsPrint Carmel Valley Dream Townhome! Property Address: 4155 Via Candidiz #36 San Diego, CA 92130 Price: $475000 MLS: 071045794 Best Value in Carmel Valley...Buy it Now! VR: $445,000 - $475,000 Fabulous Two Bedroom, Two Bath townhome with great open floor plan, a bright kitchen & dining area with hardwood floors, and a living room w...
Comments 7
By Kerry Smock, Navigate Your Way Home
(Keller Williams)
With the affordability index for California homes exceeding 70% - twenty percent higher than the National average, many Southern Californian's have a sense that they may never be able to afford a home in today's market.  Do not think this way!  There are tons of programs out there to assist the first time home buyer in Southern California.  The State along with your local cities and counties provide a number of programs that can be daisy chained together to make home ownership affordable.  YOu just have to look for them and apply.  CALHFA, California Housing Finance Agency provides one avenue and they will allow you to have silent 2nds, 3rds and even 4ths (some of which are forgiven, so you don't have to pay them back) to reside behind their first mortgage.  Calhfa's 1st mortgages are b...
Comments 4
By Aaron Whitten
(Universal Realty)
In a California public housing complex, there are no utility bills - the place is powered by solar. The landscape is edible, with grounds that include sage, rosemary, and lemon trees. And, tenants of this 56-unit Solara in Poway pay 40 percent below market.In California, public housing is the green wave of the future. "It's really an innovative project. It serves as a living, breathing ... model," says Adam Gottlieb of the California Energy Commission. "Not only are they building smart and fighting climate change, but they are reducing greenhouse gases for the rest of us."The project was designed by Global Green USA, a nonprofit that combats global warming and nuclear proliferation. The complex boasts the following key features:Carport shade structures that hold solar panels to convert ...
Comments 0
By Marlene Bridges, Laguna Homes|Laguna Condos|Laguna Real Estate
(Village Real Estate Services, Inc.)
There was evidence of PMS in San Diego this Sunday.  It happened at the 10thAnnual San Diego Rock ‘n Roll Marathon.  My buddy, Lynda Eisenmann (a notable Active Rainer) and I were there to support Lynda's two sisters who participated in the race.  We loaded up our bikes with coolers stuffed with orange slices, bananas, apple juice boxes, pretzels, wet wipes, Band-Aids and water.  We met Lynda's sisters at strategic points along the course to make sure they had enough potassium and hydration to ward off muscle cramps.  While waiting for our racers, we cheered on the runners and walkers as they passed by.  Lynda got me hooked on this marathon thing a few years ago when I went to my first Rock ‘n Roll Marathon to support her sister.  I've done a few marathons and a few half marathons mysel...
Comments 12
By Ashley Anello
(Keller Williams Realty)
Congratulations to Mr. and Mrs. McFall, they are the proud new owners of a great 3 bedroom, 2 bath home in San Deigo.  They purchased a foreclosure property for BELOW market value and even had the sellers pay their closing cost, all of them!!!  Call on us to negotiate your next real estate deal!!!  "Don't settle for less"  We're the best.
Comments 2
By William Johnson, Retired Real Estate Professional
(Retired)
I wrote a post on May 11th, that made a declaration from the San Diego Grand Jury that in their opinion, The mayor could engage with Real Estate Brokers to sell san Diego City Land. The historical process prior to this was that was land was sold at auction. This new procedure did require that the City Council sign off on the Mayors plan.In the San Diego Union Tribune today it was announced that the San Diego City Council approved the sale of 17 properties totalling more than 37 million in value.  These parcels are a mix of single family homes,office buildings,vacant lands and rights of way.What is amazing is that for the first time we are aware of, the mayor will be selecting real estate brokers to sell the land and will begin selecting them shortly noting that the commissions will be n...
Comments 0
Prices Continue Rising on Falling Sales The median price for single-family, re-sale homes in San Diego County rose 0.9% in April from March, and were up 1.7% year-over-year. These numbers are suspect as the market has split due to the tightening of loan requirements, which has dampened the entry-level and move-up markets. These numbers are higher than reality because the $1,000,000+ market, which is not affected by loan tightening, is a larger percentage of sales than normal. This can be seen in the average price, which is up 2.9% year-over-year. A higher percentage of $1,000,000+ sales drives the average price up faster than the median price. The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighb...
Comments 0
By Mark Kunce
(Keller Williams Realty )
Mission Hills is located on hills just south of the San Diego River valley and north of downtown San Diego, overlooking Old Town and San Diego Bay. The area was home to many of San Diego's pioneers and many of the homes are historical. Homes were also often designed by San Diego's premier architects. There are California bungalows, craftsman homes, Spanish Revival and Mission-style homes and many other one of a kind residence.   A Beautiful Day in Mission Hills    Have brunch at The Gathering (902 W. Washington St) where you're greeted cheerfully, seated quickly and served attentively. You'll feel completely spoiled.    Spend the afternoon at local antique shop "The Private Color", and furniture store "The Comfort Zone", or art gallery "The Frame Maker". You might find some vintage Fre...
Comments 0
By William Johnson, Retired Real Estate Professional
(Retired)
In an article today in the Union Tribune, San Diego's primary newspaper, a grand Jury report released yesterday became allied to the Mayor's approach to selling city owned property. The Mayor favors allowing real estate brokers to sell city land instead of liquidating the properties  at auction. The grand Jury report touted this approach as one way to assist in the revamping of the city's troubled Real Estate Assets Department.The city owns 3400 properties  covering 1200 acres. It also rents 680 properties and many of those leases have expired. The Mayor will ask the city council  to approve selling 19 properties valued at over 40 million.A member of the council lauded the Mayors entrepreneurial spirit but also cautioned that this practice should not be done for the  simple purpose of b...
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