San Diego Real Estate Information Archive

Interest rates on 30 year mortgages have just fallen today to record lows.  If you have great credit and can afford a loan right now, then this is absolutely the time to jump in and buy your piece of the Real Estate pie here in North Park.

If you have been considering getting into the market but were waiting to see what would happen with interest rates,  it has finally happened.  You are now able to buy at lower than 4% right now.  If you have a home and have a higher interest rate then 4.25, then it is time to make a phone call and see if you are able to qualify and and jump on the bandwagon.

Do not miss this Awesome Open House on Sat and Sun. August 6th and 7th from 1-3pm at 3315 Felton Street, San Diego CA 92104

Do not miss this Awesome Open House on Sat and Sun. August 6th and 7th from 1-3pm at 3573 Ray Street, San Diego CA 92104

No fun losing your phone.  This is especially true if you are a Real Estate Agent.  This is what happened to my to partner yesterday and it was quite interesting to see how it was found.

The rest of the story can be read on my Activerain blog

Just another reason to move to San Diego.  I do not miss NYC these days.  After speaking to friends and family this week I remember why I wanted to move to the West Coast, specifically San Diego.  Hot and Sticky is never fun.

Is Your Home Over Priced?

Looks like there are some Homeowners in San Diego and across the country that are trying to sell their homes and are still battling with the values of their properties.  Sellers who are putting their homes on the market and who have bought their homes in 2007 or later are overpricing their properties by an average of 14 percent in some cases,  based on a report put out by Zillow, a real estate site.

In my experience in selling homes in North Park, when you put your home on the market at a higher price than market value, you will typically end up spending more time on the market and less money at the end of it all.  Ultimately the buyers are out in the field looking at homes via internet and open houses and know what the price should really be. What we have seeing is that someone who is really interested in a home that has just hit the market but that they feel is overpriced will sit back and see what happens, and wait until it gets a price reduction or two.

Sellers who bought during the peak and after must really take a hard look at the comparable homes for sale in the neighborhood and base their selling price on homes that have sold in the last 2-3 months and not so much the ones that sold 6 months or more.  I also would not base it off of the Active Homes on the market because these are homes that have not sold and based on the statistics, 9-12% of them are overpriced.

In some cases sellers are very limited with pricing because they owe more on their mortgage then what the market value is and they will have to negotiate with the lender to accept less.  This is what we call a Short Sale. Sometimes these sellers are not mentally in a place where they are ready to accept that they are a Short Sale.

If your home is on the market, are you price right or are you in the 9-14% range?  How did you come up with the price?

Dream Home for Skateboarders

California's first true Skateboarders Dream Home. Pierre-Andre Senizergues, formerly a professional skateboarder creates skateboarders dream home. No, it is not in North Park.  A prototype of approximately 753 square feet was recently built and presented in a Paris Museum.  Now there will be a 2,200 square foot PAS house in Malibu soon. They have been working on the red tape for the last two years

New Law Helps San Diego Distressed Home Owners

If you have been sitting on the fence about doing a Short Sale in North Park, South Park or in the Metro area of San Diego,  this may be the time to jump off the fence and contact our Real Estate Group.  Although part of our Short Sale negotiations are always to get the Lender to waive all definciencies,  Sellers concerns are always in the back of their minds about the junior loans coming back for the deficiency down the road.

Just a few days ago Gov. Brown signed SB 458. What this bill does is to extend anti-deficiency protection for all mortgages in a short sale.  SB 931 added Civil Code 580e in the beginning of the year, which blocks first mortgage lenders from coming after a seller for a deficiency after a short sale.

This law applies to Short Sales only on 1-4 units and took effect immediately in California. Second or third mortgage lien holders can no longer pursue deificiencies after a short sale on 1-4 units in the State of California.

If this was a concern in the past, then now is the time to contact us and see what your different options are. If after looking at all of your different options, you decide that Short Selling your home makes the most sense, we are hear to help you through the process.  Our team of negotiators have successfully closed over 85 short sales in the past 12 months. Your home could be next.

Here is a Big Mistake when Selling your home

As I was searching the San Diego MLS today looking at homes in North Park, I came upon a Listing that left me puzzled.  I would never talk bad about another Colleage but this is just unbelievable. The home is a Short Sale and it seems as if though for this reason the agent just slapped it on the MLS with pictures of what looks like a smart phone....Not too smart....

I just can not believe that the owner of the home would allow this to happen. Maybe they have moved on and just don't care.  I have no idea.  I just think that if you are not going to take professional photos, then the least you should do is take photos with some kind of wide angle digital camera so that potential buyers can see the photos.  Come on people..

Do not miss this Awesome Open House on Sat and Sun. July 16th and 17th from 1-3pm at 2420 33rd st San Diego CA