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San Diego Homes Not On the MLS

by North Park Real Estate Expert-Metro San Diego

 

It seems to be more challenging every day to be able to find the home for sale in San Diego that has not already gone under contract. With the inventory very low, many buyers are all trying to compete for the same home and if they are not ready, completely prepared they tend to miss out on great opportunities.

For this reason, the McT Real Estate Group would like to give every potential buyer a head start. We are showing you our "San Diego Homes Not on the MLS yet." They will be coming on the market in the next couple of weeks. If you are not already working with a Realtor, we would love to have you reach out to one of our buyer specialists. They can meet up with you and find out what your goals are and help you reach them.

Finding the right home is one thing but being prepared to buy this home is really the important factor here. Have you already met with a loan officer and filled out your loan application? Or, have you just gone over the numbers with them. These are two completely different things and can mean the difference of getting your offer accepted once you find the house that you would like to buy or not getting your offer accepted. Our buyer specialists will be able to go over the details with you and help you ask the right questions once you have started talking with your lender. They will have a full package ready to go when you start searching for homes to buy. This way, once you find that home, if you are in a situation where you are competing with other home buyers, you offer will rise to the top.

Here are some of the homes that we are currently preparing NOT on THE MLS

Maple Street-North Park Craftsman Style Home

This is a very private 3 bedroom with wood floors, open concept kitchen and featuring a lovely swimming pool and jacuzzi in the backyard. The third bedroom has its own private entrance, kitchen, and bathroom which makes a wonderful granny flat. 

front of 3704 Maple Street in North Park

Texas Street-North Park Craftsman Bungalow

This is a lovely 2 bedroom Bungalow that features an attached bonus bedroom and bathroom. This makes a great place where your friends and family can stay when on vacation. With great walkability, you can take advantage of living near all the great restaurants, shopping, and nearby parks.

Front of Home on Texas Street

 

E.Overlook Drive - El Cerrito

This 2 bedroom, 2 bathroom house has spectacular views from the back deck that sits off of the open dining and living room. The master bedroom has a master bathroom ensuite and sliding doors that also lead out to the deck. Downstairs is an attached bonus room that is approximately 300 sq.feet and would make a great home office.

Front of home on E Overlook

 

Haller Street- North Park

This 2 bedroom townhome features an open concept kitchen and living area downstairs, along with a cozy fireplace for those chilly winter nights. There is also a nice size private patio off of the living room where you can enjoy indoor and outdoor living. Both bedrooms are upstairs and each has their own bathroom ensuite.

Kitchen

For more information on these homes for sale and how to schedule a showing, contact the McT Real Estate Group directly at (619) 940-1554.

3327 Vancouver Ave-Open House

by North Park Real Estate Expert-Metro San Diego

3327 Vancouver Ave- Home for Sale and Open This Weekend

We just listed 3327 Vancouver Ave in North Park for sale, and we will have an Open House this Saturday, Aug. 13th from 1-3. This is a darling Art -Deco home with original charm that sits on a 7,000 square foot lot, so there is plenty of room to add on to and make it your very own. 

View the photos below and come to take a look in person this weekend. If you would like more information or would like to see it before the open house, contact us at 619-818-8122.


 

Buyers Home Buying Power

by North Park-South Park Real Estate Expert

Buyers Home Buying Power

Here is San Diego, we have experienced a shift in the housing market and some sellers have not yet come to understand it yet.  As listing agents, we experience the market well before the rest of the world (The Media, buyers and sellers) because we see what buyers are doing once we get into escrow.  The media is talking about San Diego's low inventory and how are prices are increasing, however they are at least 4-6 months behind the reality of what is really happening.

What is really happening today is since our interest rates have gone up in the last year, buyers buying power has gone down.  Buyers have become a little uneasy because their payments have increased; in some cases 200-400 more than they would have been several months ago, and this is basically scaring them.

With this being said, I believe that reality will settle in soon and sellers will realize that their property is not worth the million dollars that they thought it was, based on the "Ra Ra" of the media.  Buyers will realize that if they wait longer to buy a home, they will indeed have less buying power than they do today.

Here are two charts showing what I mean.

Please call or email us if you have any Real Estate needs.  We are here to help.

Find the "Right" San Diego Agent Before the "Right" Home

by North Park-South Park Real Estate Expert

What Buyers Want.png

It is very common for home buyers in San Diego to create a list of all of the things that they would like in a home while they are in the search phase and explain this to their agent. What they really should do first is maybe create a list of skills they would like their real estate agent to have.

The top most ranked desired thing that a buyer wants from their agents has be known to be that their real estate agent find them the right home. This was ranked the highest most often.. While important, it may not be the most unique of the desired area of specialty.

Equally as important to the transaction being successful are the guidance and help with negotiations, price, terms, help with comparable sales, getting qualified for a mortgage, and help with all of the paperwork.

Summarizing the responses in the survey, their are two things that buyers want help from their agents with.

1) is to find the right home

2)  get it at the right terms and price

Not all agents are created equally. Some agents have extensive knowledge assisting homebuyers with financial advise and negotiations with real estate.
A real estate professional skilled in negotiations is invaluable to a home buyer in finding the right home,  since an owner's cost of housing is dependent on the price that they are ultimately paying and financing.  Finding the experience real estate agent who has connections with the right service providers and allied professionals is absolutely irreplaceable.

If you are thinking about Buying a Home in the metro area of San Diego, please do not hesitate to call, email or shoot us a text.  We would love the opportunity to earn your business.

But Zillow Said

by North Park-South Park Real Estate Expert

Zillow says that my home is worth----.  Is this what you really think?  Do you live in a neighborhood where every single home  is exactly the same.  By exactly the same, I mean, same year built, same square footage, same style, basically what I mean is a cookie cutter tract home.  If this is the type of home that you live in, then most likely the zestimate  that you see on Zillow may be close to correct.  Other than this, don't believe everything you read!

Here are some examples of incorrect zestimates from Zillow:

2749 28th Street- We sold this home for 1,899,000.00 . Zillow says $1,644,576

3428 Juniper St- We sold for $1,275,000. Zillow says $921,463

3103 28th St- This one just sold for $1,4000.00. Zillow says $793,551

 

4732-34th-St-San-Diego-CA

 

With this being said, the same thing holds true with homes where zillow says are worth more than they really are. Depending on whether you have a Craftsman Style home, Spanish Style home or a bungalow; depending on whether you live on a desirable block or a less desirable block, Zillow may say that your home is worth much more than it really is.

If you live in a neighborhood where all of the homes are different, then Zillow's zestimates are not correct and sometimes are way off. There are 2 homes on the same block.  One is a Craftsman Home built in 1923 and has been impeccably restored. The 2nd one has not.  How is  Zillow able to determine the 2?  Some streets in certain neighborhoods  are able to commend a higher dollar amount than others, i.e. quiet residential street, then there is a very busy street right around the corner. How is Zillow able to determine that the quieter street gets a higher dollar amount?   Sorry guys, but Zillow is not able to do this and for this reason, if you own a home and are curious to know how much your home is worth, you are best to call your local Real Estate Agent. One who is very active in the community selling many homes.

Not Zillow, not Trulia, not Realtor.com.  Simply contact your local Realtor and ask if they will give you their professional opinion of what they believe your home is worth in this current market.  I am sure that they would be happy to.

San Diego Housing is Back!

by North Park-South Park Real Estate Expert

San Diego Housing is Back!
 
What does this all mean?  Well, I found a couple of visual charts so you can see what is going on in our housing market and many other places in the U.S.
 
For the last couple of years, buyers would come see the homes for sale that we had listed and basically took their time to decide if they really wanted to buy the home and/or the neighborhood.  There were plenty homes to choose from and so there was no big hurry, and there were many demands when they did decide to write an offer. Prices were dropping and buyers felt as if though they waited a little, they would most likely get "a deal". With interested rates dropping at the time as well as price; buyers had no fear about finding a home. I actually remember many buyers calling us and saying that they wanted to buy but they wanted "a deal. Waiting actually helped some buyers over the last several years.  Well, this is definitely not the case at this present time.
S + P Case Shiller Pricing
 
 
If buyers move at the same pace that they did several years ago, find a home that they believe they will love but wait another 4-6 months so that they can look at a few more before they decide; that home will be gone and other similar homes in that same area will most likely come at a higher sale price and higher interest rate.
 
Most homes on the market today are receiving  multiple offers. We are letting our buyers know that if they really love the home they are bidding on, they should just raise their offer to there absolute highest that they feel comfortable with, making it their very best, as they may not have a second chance. In many cases, the listing agent has put in the MLS to put in your highest in best.  This language means that you may not receive a counter back. Make it your best!

Since November of 2011 up to January of 2013, prices have actually gone up nationally 5.1 percent. What  118 leading analyst  think, is that between 2013 through 2017, we are going to have approximately a 4.1 percent annual appreciation.  So, for the next 5 years it seems like the prices will be going up.  We won't see the crazy numbers of 2004-2006 but simply catch - up numbers.
 
Month's Inventory of Homes
 
With all of this being said.  Homes that go on the market priced relative with what is happening in the market are having multiple offers and being sold.  In this current market, with all of the media hoopla, some sellers have become a little unreasonable and these homes do sit on the market, until the price comes down to a reasonable listing price.  Unfortunately as this happens, the home stays on the market, becoming stale and if and when it does get an offer, it will be a lot less had the seller priced it at market value,
and let the buyers escalate the price indicating what the price should be and what they are willing to pay for it.
 
30 Year Fixed Rate Mortgage    
Mortgage Rates Moving Forward
 
If you are looking for a home in the San Diego Area and need help doing so, please reach out and call, email or text. We are here to help.

Buying a home in San Diego

by North Park-South Park Real Estate Expert

Should I buy a home right now or should I wait.? 

Should I sell my house right now or should I wait?

 

Two home buying and home selling questions that many people are asking us these days.  

Here are a few of my thoughts.

 

 

If you are renting and are searching for a home, at least in the metro area of San Diego California, prices have been escalating.  Most buyers are competing with each other because of such the low inventory that is available.  In other places in the U.S. more properties tend to come on the market in the Spring.  Here in San Diego, we typically stay busy all year round except for maybe the last week of December, and the first week of January; although, we don't know if this in fact is going to be the case this year. With the interest rates at approximately 3.5%, people are trying to buy their home before or during 2013 to try to get in before the interest rates go up.

 

Trulia recently issued a report stating that the rents this year have shot up by 5.4%.  Historically in the past rents had only increased by 3.2% on an annual basis.  This alone is a powerful reason to want to buy.

 

 

With the low inventory today, it is becoming very difficult to find your dream home or even the home that is right for you.

If you already have a home and have been wanting to upgrade but want to wait until the prices go up so that you can receive the highest dollar amount for your home, you are not alone.  A lot of people are wondering the same thing.  

 

Here are my thoughts on this.  When your home goes up in price, so does the price of the home that you wish to buy.  With  these interest rates so low, by selling now ( if you are able to because of equity), you will be able to buy more house with a very low interest rate and a lower price.

 

Just my thoughts.  If you have any questions regarding our San Diego market, feel free to contact me or someone from our team. We are here to help!

San Diego Home Prices escalate

by North Park-South Park Real Estate Expert

San Diego Homes

 

San Diego Home Prices are escalating.  While some people wait for the price of our homes in the San Diego Market to hit bottom before they buy, others realize that these low interest rates may not last and have taken advantage of their higher buying power. 

So how do you know if we hit rock bottom?  As you can see below, we are creeping up again.  If you keep waiting for the perfect time, you will see that it would have passed you by. 

We are having multiple offers again on our homes that we have for sale and the sellers are receiving over list price on many of our listings.  This is when you know that the prices in our San Diego market is escalating again. Why wait, get pre-approve now so that you are ready when you see the home that fits your needs.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

San Diego Real Estate News

by North Park-South Park Real Estate Expert

San Diego Real Estate Scoop

 

Great Home Decorating Ideas

by North Park-South Park Real Estate Expert

Great and colorful ideas found heeHouzz

Displaying blog entries 1-10 of 18

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Photo of McT Real Estate Group Real Estate
McT Real Estate Group
Big Block Realty, Inc
3855 Granada Ave
San Diego CA 92104
619-818-8122
619-736-7003