Tag Archives: REALTORS

San Diego Real Estate Expert, David Tal’s HomeReach Weekly

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Get $3,000 to short sale your home?

April 8, 2010 – In an ongoing effort to stave of foreclosures, the government has been coming up with new ways to help troubled borrowers.  Their newest program may just do the trick!

A short sale is when a troubled borrower owes more on his home than it is actually worth; therefore, he can’t even sell it, but rather is forced to foreclose.  Short sales help the borrower sell the home, once approved by the lender to accept a short payoff.  Lenders like this method because it saves them tens of thousands of dollars in most cases to avoid the foreclosure process and sell it while it’s in a better condition.

Tragically, only a small number of homeowners have been approved for a short sale by their lenders, and the small percentage of people who were approved had to wait for a 6-9 month short sale process.  In many cases, they lost their homes to foreclosure during this tedious and time straining attempt.

On April 5th, the government enacted the new Home Affordable Foreclosure Alternatives program, known as HAFA.  Under this new legislation, borrowers will receive $3,000 to relocate.  Short sale servicers will earn $1,500 for handling the transaction.  The holders of the mortgages, or investors, will receive $2,000 for participating and helping to share proceeds with any secondary lien holders.

Lenders that participate must make it clear to the homeowners as to what market price they will be willing to accept, and they must approve offers that meet the guidelines within 10 days.

There is no doubt this program will help thousands of people, and speed up the short sale process.  In many market areas, it’s been estimated that up to 2/3 of all transactions this year will be from short sales.  A foreclosure does twice as much damage to your credit score than a short sale, so homeowners should really consider this option before they just walk away from their homes.

Consult your local agent to discuss your options and alternatives to foreclosure!

Visit us online at HomeReach.com to view all San Diego homes for sale.

Real Estate Expert, David Tal’s HomeReach Weekly

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A new $10,000 housing tax credit for CA homebuyers!

March 25, 2010 – Last March in California, a $10,000 tax credit was enacted for homebuyers who purchased new construction homes in an effort to stimulate the housing market and help developers that were stuck with a glut of inventory on their hands.  The state allocated $100,000,000 for the program.  It was a huge success.  It was too popular in fact, because 4 months later, the fund ran out.

A new bill has been introduced in the California State Senate that would reintroduce this tax credit incentive as early as May 1st, coinciding with the end of the Federal first time homebuyers tax credit that ends April 30th.

With resale homes getting absorbed at rapid rates, many buyers are turning to new home sales which can offer great incentives from the developers like credits for upgrades, waiving Home Owner Fees for a given amount of time, major price reductions, and more.  If the state tax credit gets a new lifeline, so will developers of new homes, and homebuyers alike.

Stay tuned for more information on the California State Senate’s $10,000 tax credit for new home sales.

Visit us online at HomeReach.com to view all San Diego homes for sale.

San Diego Real Estate Expert, David Tal’s HomeReach Weekly

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Why You Should Always Use a Real Estate Agent

March 11, 2010 – Like any business, there are people who specialize in real estate.  Many buyers and sellers out there think they can do this without the guidance of a professional real estate agent by their side.  Now I’m not saying that all agents are created equal, but having an expert can save you time, money, and help you avoid the pitfalls of the real estate game.

Buyers have so many tools at their fingertips these days.  They can search all the homes for sale, find recent sales, and do plenty of research on their own. Not everyone is so savvy, but even those who are should understand the basic rule of thumb.  Going straight to the listing agent will not benefit you.  The main reason is the listing agent is representing the seller, and is negotiating on the seller’s behalf.  His job is to get as much money from you.  Let me repeat that.  The listing agent is trying to get you to increase your offer as much as possible.  Where is the benefit in this?  Exactly.  An agent representing you as a buyer will do exactly that, and will work and negotiate on your behalf to try and get the seller to lower his price as much as possible and get you the best deal.  But negotiating aside, everyone needs a second eye, and a guide to help him or her with their decisions, especially big ones like buying real estate.  Experienced and knowledgeable agents are looking at deals and seeing transactions daily, giving them much more information than a buyer who just decides now that he’s interested. They can share neighborhood trends and information and help you get a clear picture of what’s going on in the market.  They also know of deals before they hit the market, giving you a competitive edge.

Home sellers feel they can save on commissions by trying to list their home by owner and forego the exposure of the Multiple Listing Service, known as the MLS.  They don’t feel they need agents to bring them a buyer.  But time and time again they are proven wrong.  Here’s the latest statistic from the National Association of REALTORS®.

88% of for sale by owners end up using a real estate agent to sell their home!

That’s right, 88%!!!!  What these home sellers lost was time and time is everything when you are trying to get your home sold for as much money as you can get.  Simply listing your home on Craigslist just won’t do it.  Even if you do get lucky and get an offer that way, it’s probably not the best offer you can get.  Exposing your listing to every buyer and agent out there using the MLS system will drive more buyers and offers your way.  The more offers, the better your chances of getting top dollar for your property.

When it comes time to buy or sell your next home, always speak to an experienced agent that specialized in your submarkets of interest.

Visit us online at HomeReach.com to view all San Diego homes for sale.

San Diego Real Estate Expert, David Tal’s HomeReach Weekly

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Lock in a 30 Year Mortgage under 5% While You Can!

March 4, 2010 – Home mortgage rates are at an all time low, slipping to incredibly low rates in recent months.  Today, a buyer can get a loan under 5% with most lenders.  These are historically low mortgage rates that are fueling the housing recovery in San Diego.

Last spring, in an effort to keep mortgage rates stabilized, the Federal Reserve began buying back over $300 billion in Treasury notes.  Due to these low rates, people are buying homes and refinancing in large numbers.

It’s a great time to buy a home when home prices are low and especially when they are coupled with low mortgage rates that you can lock in for 30 years!  It’s no wonder mortgage applications soared 16% in recent weeks.

In dollars and sense, a 1% jump in the rate of a mortgage would mean paying about 10% more per month for the same home.  The government has also stepped up its shot in the arm for the housing market with the FHA, or government backed loan, aimed at helping people get into homes that qualify but with less of a down payment.  FHA loans allow buyers to purchase a home for as little as 3.5% down and with extremely competitive rates.  Banks are willing to give these loans because Uncle Sam is backing them up.

If you’re a buyer on the fence, you may want to consider that these rates won’t stay low forever, nor will home values.  Get out there and get some information.  You’ll be surprised.

Visit us online at HomeReach.com to view all San Diego homes for sale.

What Type of Dwelling is for you…

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What type of dwelling is right for you? The two general types of residences you can choose from are: a detached single-family home or an attached dwelling known as a condominium or townhouse. The exclusive right of ownership on a detached property covers the entire structure and the land it stands on. What separates you from your neighbors is either a fence or boundary. The exclusive right of ownership for an attached property is confined to the walls, floor, and ceiling of that particular unit. When it comes to the common areas such as parking areas, amenities, and other facilities ownership is shared thru a homeowner’s association that you automatically become a member of after purchasing.

Search Single-Family Detached Homes

Things to consider when purchasing either type of these properties are based on your desire. One of the basic differences between these types of properties is the property maintenance. With detached properties you have the freedom of personal creativity over the property. Condo owners have to abide by specific conditions on ownership rights. Tending to a garden, mowing the lawn, and landscaping is a lifestyle some people like. If this isn’t for you, a condo’s homeowner’s association takes care of these duties for you. The trade-off of course is that condo residents have to pay the homeowner association dues which cover maintenance, insurance, and reserves for major renovations. Detached homeowners, on the other hand, need to have the time, energy, and petty cash for home repairs and grounds upkeep.

Search Attached Properties in North Park

The decision to purchase a condo or a single-family house rests on your taste, priorities, budget, and lifestyle preferences. Investing in a dream home, whether it’s a house with a picket fence and a manicured lawn, or a pristine penthouse condominium unit overlooking whatever view comes with purchasing, can indeed be a unique and challenging yet enjoyable experience.

Your HomeReach Certified Agent,

Justin Johnson

619-618-5513

Sound Advice for First Time Home Buyers

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It’s your first home, or maybe you made some mistakes when purchasing a property once before, so you’re not feeling so confident. You’re excited about the prospect of getting a good buy in today’s market, but you want to feel you’re making the right choice. You may feel ready to ask your REALTOR for a tour of homes, but first, here are a few tips to remember before setting out:

Know your Credit Score.

Get Pre-approved with an experienced, reliable lender, so you’ll know what you can afford. This will also help your REALTOR to be able to show you homes within your price range.

Create a Long-Term Budget. Don’t get caught short of cash, somewhere down the road. Make sure you have enough reserves.

Don’t forget about taxes, insurance, utilities, and other possible fees.

Work with a REALTOR who has experience and “know-how”, who will help you every step of the way, including negotiating, answering vital questions, and being there for you when you need advice. A good real estate agent will return your calls within 24 hours, but a great agent will get back to you as soon as possible.

Prioritize your “Gotta-Haves” and “It-Would-Be Nice-to-Haves”, and understand that each home will most likely have a bit of each, but will seldom fulfill all your desires.

Get a Home Inspection, and choose your own Home Inspector, so you are confident there will be no conflict of interest. Your REALTOR will surely be able to give you a list of professional inspectors, but in the end, it’s your choice.

Know what you’re getting into. If the Home Inspection Report lists too many expensive repairs, don’t be afraid to cancel the contract, and continue your home search for a home in better condition.

Know your neighborhood. Show up at various times of day and night to check it out, before you make the move. Be aware of noise, or any other factors that may make the area undesirable to you.

Resale Value. Consider what you pay for your home, and whether it will hold its value over the years. Life has many surprises for us. You may want, or need to sell sooner than you think. Be prepared.

This is one of the most important decisions you’ll make in your life. Don’t hesitate to call as I will be there for you throughout the entire home buying process.

Your HomeReach Certified Agent,

Bonnie Maffei

760-730-2191

San Diego Real Estate Expert, David Tal’s HomeReach Weekly

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Three Cash Flowing Neighborhoods in San Diego!

February 18, 2010 – It would have seemed unimaginable for the past few years.  More neighborhoods in San Diego are cash flowing, making them extremely appealing for homebuyers and investors alike.  On average, San Diegan’s are now only paying 16% more to own than they would to rent.  That is a small premium to pay to own your own home and gain from it’s appreciation, tax incentives, and vast benefits.  Compare that to 2006, when it cost 66% more to own than to rent and it’s easy to see why the attractiveness of owning a home back in 2006 came to a quick and strong halt.  The last time owning a home was only 16% more expensive on average in San Diego was in 1999.

  1. Oceanside, CA – Oceanside is the 2nd highest selling community in San Diego County, selling thousands of homes each and every month.  Values dropped 40-50% from their peaks but dropped only 7% for 2009 with an upward trend in the last 4 months of the year.  Strong rental demands from government military and naval bases, as well as thousands of young families moving slightly farther away from city centers find great values here for their money.  Investors have taken note too!!!  See the Best Deals in Oceanside
  1. Chula Vista, CA – Believe it or not, Chula Vista is selling more homes each month than any other neighborhood in the County.  There are really two completely different areas of Chula Vista, divided by the 805 Freeway, and spread over 5 zip codes.  The greater part of 3 of those zip codes were only built in the last decade and they are stunning.  For those who have visited, they know what I mean.  It’s clean, brand new, beautifully landscaped, wide streets, homes with some actual land, it’s safe, exciting and the values are on a league of their own.  New schools, parks, shopping centers, business districts and restaurant/nightlife line the avenues of the new Chula Vista, nestled just east of the 805 freeway and just south of Bonita.  Chula Vista was hit the hardest by foreclosures since most of it was built during the peaking years of the housing bubble.  Now, homes values have dropped 40-60% and rents have remained strong because of the schools and low housing costs we have today.  Come take a look for yourself.  Chula Vista is cash flowing!  View Foreclosure Deals in Chula Vista
  1. Imperial Beach, CA – Imperial Beach hasn’t been as popular as other coastal areas like Pacific Beach, La Jolla and Del Mar.  But those areas have weathered the storm better and have always been expensive.  Imperial Beach is now getting a 2nd look, not just from homebuyers, but the city too, which has zoned coastal areas of Imperial Beach as a Redevelopment District.  The Imperial Beach in 10 years from now will be a very different place than it is now, but already we’re seeing major tenants moving into the neighborhood, and redevelopment along the coastline.   Dozens of home owners are taking time to upgrade and update their homes, realizing the future potential of their home.  Imperial Beach is San Diego’s most affordable coastal city for all that it has to offer, with direct access to Coronado Island and the 5 Freeway. Within a two block radius of the naval base, there are dozens of 1 and 2 bedroom foreclosures, completely upgraded, priced between $80,000 and $150,000 that can rent for $800 to $1,500 per month!  Cash flow baby!  View all Imperial Beach Bank Owned Homes!

Visit us online at HomeReach.com to view all San Diego Foreclosures by area or zip code.

Santaluz – a “Must See” community in San Diego!

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rancho-bernardoSantaluz is San Diego’s premier family oriented  golf course community.  It is because of it’s elegance, it’s friendly neighbors, and it’s wide open spaces that so many people are choosing to raise their family in Santaluz.  It has a great location, sandwiched between Rancho Bernardo and Rancho Santa Fe, and it offers great affordability compared to the golf course communities around it.
Santaluz’s architecture and landscape is an authentic early California look and its center piece is the beautiful club house and hacienda.  If anything, go to Santaluz just to see this.  You will not leave unsatisfied, especially if you get a massage at the spa which Riviera Magazine voted the best in San Diego County.  You may also join a foursome and play a round on the Rees Jones Championship golf course.
One of the real advantages to Santaluz is that the property is all in relatively good shape and new.  Your money also takes you further than in some competing neighborhoods.  Homes for sale in Santaluz range from $750,000 to $5,500,000.  The smallest homes are 2,300 square feet and the largest exceed 10,000 square feet.  Really the bottom line is that if you are looking for a home built in the last couple years, in a gated community and with a private golf course than Santaluz is a place you simply have to see before you can buy.
If you would like a tour and access to all the amenities in Santaluz please call Daniel Beer at 858-337-7409 and I will be very happy to make it happen for you.  I am also very knowledgeable on all Santaluz homes for sale and will be happy to share any info with you that you may need.

Daniel Beer
Santaluz Specialist
(858)337-7409