Selling Your San Diego Home: Tips for 2012
At this time of the year, many of us are thinking of our income taxes. Filing returns with the IRS is often stressful and tiring. However, selling your house doesn't have to be!
You need real estate professionals to take the headaches and hassle out of selling your home. How can we help? First, we'll sit down together and discuss your individual situation.
Next, we'll evaluate the right marketing plan to reach your goals. In today's real estate market it's a tremendous advantage to create a complete, individually tailored marketing plan for every home.
When you're ready to proceed, we'll get started with the marketing of your home. There are many things we do to find buyers, including creating special feature flyers for your home, holding open houses, developing advertising, exposing it to other salespeople, and more. Download Tips on Selling Your Home!
Housing Prices Back to Parallel with Income Levels
To get full report click here
Real Estate Market Update...
San Diego econ index jumps record 1.9% download
Improvements in home construction and employment indicate recovery is picking up steam By Dean Calbreath, UNION-TRIBUNE Originally published March 31, 2011 at 12:39 p.m., updated March 31, 2011 at 5:23 p.m.
San Diego's leading economic indicators jumped by their highest level on record last month, driven by an improving job market and a pickup in home construction, the University of San Diego reported today. "February’s record gain suggests a pickup in the pace of the local economic recovery, which has been slow," said USD economist Alan Gin, who compiles the local index of economic indicators for the university's Burnham-Moores Center for Real Estate. But Gin cautioned that the county still has a long way to go to before it returns to pre-recession norms. Even though the job market has added 23,000 jobs since hitting bottom in January 2010, it is still has roughly 100,000 fewer jobs than at the beginning of the recession. Here are how the six leading indicators performed over the last two months (today's report includes January, which was delayed as the state recalculated employment data): Home construction. Building permits for residential units more than doubled in the first two months of 2011 compared to the same period in 2010. But that's a relatively low bar to hurdle, since 2010 was one of the worst periods on record. Unemployment. First-time claims for jobless benefits hit their lowest point since September 2008. The jobless rate dropped to 10.1 percent in February - or 10.0 percent after adjusting for seasonal trends, including the layoffs of temporary workers hired to handle holiday sales and year-end inventory management. For the first time in nearly two years, it seems that San Diego may be on the verge of returning to single-digit unemployment. Hiring. Online job postings in February hit their highest level since November 2008, according to an index maintained by Monster.com. There were pickups in hiring in nearly every industry, including particularly strong increases for business and financial operations, computer and mathematics, life and social sciences and arts, design and entertainment. A Monster.com report released today shows that the upward trend continued in March, except at a slightly slower pace. Consumer confidence. Local consumer confidence continued to rebound during the first two months of the year, despite higher gas prices and a stubbornly high unemployment rate. Starting this month, changes in the national index of consumer expectations will be used to approximate local consumer confidence, because the Union-Tribune discontinued its local polling in January. Stock prices. As of February, local stock prices advanced for seven consecutive in a row. National economy.The pace of national economic growth is slowly accelerating, with the GDP growing at a 3.1 percent annualized rate in the fourth quarter, up from 1.7 percent in the second quarter and 2.6 percent in the third quarter. But economists speculate that the pace may slow down, because of rising fuel prices as well as some supply line disruptions related to the earthquake and tsunami in Japan.
Real Estate Report March/April 2011 get your free report here.
Economic Data from January 2011 get your free report here
San Diego Home NEWS
Rent vs. Buy in this market
It's all about the numbers, right? If you are renting and have a steady income, you might want to consider buying.
One of my favorite resources on analyzing renting versus buying click here
After you carefully consider your budget, costs, net worth, and financial growth goals it is time to look at properties on the market. You can view our website for available properties in all price ranges to see what kind of house you can get for your money. You next step to seek professional help in viewing the property before considering making an offer. At first, it may seem intimidating because of the initial cost of buying a home, remember the big picture and also realize millions of people own property, and you can do it too.
Economic News for October click here.
Sacramento Bee California REALTORS® forecast slight rise in 2011 home sales
Sales of existing, single-family homes are expected to decline slightly in 2010 compared with 2009, but are forecast to rise slightly in 2011, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2011 California Housing Market Forecast.” Meanwhile, the median price of homes in California is expected to increase both in 2010 and 2011 compared with the year prior.
MAKING SENSE OF THE STORY FOR CONSUMERS
Following near record-high levels of year-over-year sales increases, home sales are expected to decline 10 percent in 2010 compared with 2009, according to the C.A.R. forecast. C.A.R.’s economists predict home sales will increase 2 percent in 2011 compared with 2010.
-Home sales are expected to end the year at 492,000 units, compared with 546,500 in 2009. C.A.R. forecasts sales will come in at 502,000 units in 2011.
-The median sales price is forecast to increase 11.5 percent to $306,500 for 2010, and an additional 2 percent in 2011 to $312,500, C.A.R. announced.
-According to C.A.R. Chief Economist Leslie Appleton-Young, the Association expects a net jobs increase of approximately 1.4 million jobs in California for 2011 and an improvement in unemployment figures, which many believe are key to the economic recovery.
- Ms. Appleton-Young also noted that a lean supply of available homes for sale will drive up prices at the low end ($500,000 and less), but larger inventories and limited, less-attractive financing will cause continued softness at the high end of the market ($1 million and more).
Read the full story: http://www.sacbee.com/2010/10/05/3080072/california-realtors-forecast-slight.html
In Other REAL ESTATE News…
Los Angeles Times Prices rise for homes in foreclosure or sold by banks
Prices for homes either in foreclosure or sold by banks rose in the second quarter, according to a real estate group, underscoring competition in the market for distressed properties and the degree to which the mortgage crisis has spread to more affluent neighborhoods. Read the full story: http://www.latimes.com/business/realestate/la-fi-foreclosures-20100930,0,6114536.story
Los Angeles Times College-student housing presents investment opportunities
It's not free of risk and is far more management-intensive than conventional multifamily properties, but student housing has a long history of growth and stability. Read the full story:http://www.latimes.com/business/realestate/la-fi-student-housing-20101003,0,1425837.story
Mercury News Congress holds conforming loan limits at nearly $730,000
Congress has extended a policy that allows homeowners in pricey real estate markets to secure government-backed mortgages of nearly $730,000. Read the full story: http://www.mercurynews.com/breaking-news/ci_16215740
Wall Street Journal Serious delinquencies fall for fifth month in a row
Fannie Mae said serious delinquencies on single-family mortgages slid in July from June, the fifth-straight month of declines, further signaling that home-loan problems were on the downswing.
Read the full story: http://blogs.wsj.com/developments/2010/09/30/serious-delinquencies-fall-for-fifth-month-in-a-row/
Wall Street Journal A new way to cut a mortgage
Some homeowners who already have refinanced into low-interest-rate mortgages are using a little-known strategy to make their monthly payments even smaller. Called "recasting" or "re-amortizing," the strategy allows a borrower to lower the monthly payment on an existing fixed-rate home loan for a small fee without having to apply for a new loan and without having to pay reappraisal and other fees. Read the full story: http://online.wsj.com/article/SB10001424052748704791004575520313350677180.html?mod=WSJ_hpp_sections_realestate
New York Times Refinancing into shorter loans
Grim headlines about the housing market can make that final mortgage payment seem like a distant dream. But a growing number of homeowners are refinancing into shorter-term mortgages designed to make the dream become a reality sooner. Read the full story: http://www.nytimes.com/2010/10/03/realestate/03mort.html?_r=1&ref=realestate
USA Today Lack of title insurance could slow sales of foreclosed homes
Foreclosed homes could get harder to buy now that one of the nation's largest title insurance companies has stopped insuring titles to homes foreclosed by JPMorgan Chase and GMAC Mortgage. Read the full story: http://www.usatoday.com/money/economy/housing/2010-10-01-boa-delays-foreclosures_N.htm?loc=interstitialskip
Del Mar Real Estate Market Update 2012
Del Mar Real Estate Market Up Date
The median single family home price as of February 12 2012 for DEL MAR is $1,832,462.
It's important when trying to pricd the market to look at homes sales (recent) in the area you are looking to buy or sell. In this post, we are looking specifically at Del Mar real estate. It is also important to look at San Diego county economic data. This can be found monthly from the University San Diego Economist, Alan Gin produces a monthly economic report view it here.
Comparative Market Analysis January 2012-February 18, 2012
| ADDRESS | ZIP | BED | BATH | SQ.FT | YEAR BUILT |
LIST PRICE |
SALES PRICE | SALE DATE |
% OF ASKING |
DAYS OM |
| 2775 Montego Cv | 92014 | 3 | 2 | 1712 | 1970 | 769,999 | 693,300 | 1/27/2012 | 90.04% | 83 |
| 15033 Caminito Ladera | 92014 | 3 | 3 | 2660 | 1985 | 825,000 | 775,000 | 2/6/2012 | 93.94% | 160 |
| 445 Camino Del Mar | 92014 | 2 | 2 | 896 | 1955 | 895,000 | 750,000 | 1/11/2012 | 83.80% | 772 |
| 4611 Vista De La Tierra | 92014 | 4 | 3 | 2889 | 1977 | 945,000 | 945,000 | 1/31/2012 | 100.00% | 57 |
| 14120 Bahama Cv | 92014 | 3 | 3 | 2433 | 1969 | 950,000 | 932,500 | 2/8/2012 | 98.16% | 24 |
| 715 Avocado Place | 92014 | 4 | 5 | 3948 | 1990 | 1,139,000 | 1,100,000 | 2/3/2012 | 96.58% | 389 |
| 14286 Recuerdo Dr | 92014 | 4 | 4 | 3293 | 1987 | 1,749,900 | 1,900,000 | 1/30/2012 | 108.58% | 8 |
| 12930 Via Esperia | 92014 | 2 | 3 | 2950 | 1974 | 1,850,000 | 1,785,000 | 01/13/2012 | 96.49% | 18 |
| 2037 Coast Blvd | 92014 | 3 | 3 | 1887 | 1975 | 1,949,000 | 1,900,000 | 2/9/2012 | 97.49% | 107 |
| 2105 Balboa Ave | 92014 | 3 | 3 | 2607 | 1988 | 2,395,000 | 2,280,000 | 01/03/2012 | 95.20% | 13 |
| 1345 Via Alta | 92014 | 3 | 3 | 2322 | 1953 | 2,795,000 | 2,400,000 | 1/23/2012 | 85.87% | 37 |
| 1701 Grand Ave | 92014 | 4 | 4 | 3488 | 1983 | 4,295,000 | 4,150,000 | 1/6/2012 | 96.62% | 186 |
| 1255 Luneta Dr | 92014 | 4 | 6 | 4657 | 2008 | 4,700,000 | 4,375,000 | 01/30/2012 | 93.09% | 11 |
| BD | BA | SQ.FT | LIST PRICE | SALES PRICE | % OF ASKING | DOM | ||||
| AVERAGES | 3.23 | 3.385 | 2749.4 | $1,942,915 | $1,845,062 | 95.06% | 143 |
Foreign Investors San Diego Real Estate
Investors learning about the San Diego real estate market become excited when they investigate the low prices in combination with strong rents. Foreign investors are no different. They are looking all over the world for a deal that can give them cash flow. I show you homes today, that at current market value will rent for more than the mortgage (including taxes, hoa, mello roos...all combined). This is because of threemain reasons, interest rates are very low and prices have come down considerablely and people need a place to live. After selling their house, short sale the Smith's needed to rent a house. They realized their rent payment to for something comparable was $2900 a month. They pay the rent, on time and are happy to have been releaved from their debt burden through short sale.
Foreign investors are always asking me about the introduced legislation... here is a reprint below from one of the co-authers, Mike Lee (R-UT), in his own words.
If you are a foreign investor or homes buyer interested in San Diego real estate and you would like updates on this bill click here.
REPRINT FROM http://www.lee.senate.gov/public/index.cfm/2011/10/clarifying
Oct 20 2011
Clarifying Elements of the VISIT-USA Act
My office has been contacted by constituents with several concerns that were not properly addressed in recent news articles written about this bill. I would like to set the record straight.
First, every foreign investor who would like to purchase a home in the United States will continue to be required to meet the same basic requirements as every other visa applicant, a process that has been enhanced over the past few years. Those with criminal records, connections to drug cartels, suspected ties to terrorist organizations, or other problematic activities will not be able to take advantage of this legislation.
Second, this is not an immigrant visa, and is not a work visa. The visa this legislation enables is similar to a travel visa. It will only last for three years at a time and will not allow for recipients to obtain an American job or get on a path to citizenship.
Third, those who buy a home through this bill will not be granted any government benefits. They will not be eligible for Social Security, Medicare, Medicaid, or any of our other entitlement programs.
Fourth, buyers will not be allowed to purchase a home by taking out a mortgage. They must pay up front and in cash in order to qualify. They will not create additional risk in our financial system, nor will they create a stream of interest payments to our major banks.
Fifth, this bill does not create a new market that did not exist previously. Foreign buyers accounted for roughly $82 billion of American real estate purchases in the most recent year tracked by the National Association of Realtors. A full quarter of those buyers came from our neighbor to the north, Canada, with whom we share the world’s longest open border.
The purpose of this bill is to support a free market method of increasing demand for housing at a time when so many working-class Americans are underwater on their homes, are desperate for prices to rise again, and big-government programs have failed to work. I am sponsoring this bill because I know that it makes economic sense while protecting American citizens.
Short Sales San Diego 2012
Short sales San Diego, market up date:
There is a lot of information coming in from lenders about more defaults coming. If you have a high balanced mortgage and your are under water you have more choices than ever to get yourself in a good position again with your property.
Important considerations for considering a short sale are first and foremost, are you ready to leave your home? If you truly want to sell and not have the house nor the debt, this may be the best option. Contact us to give you the specific requirements, it costs you nothing. We have successfully done a great number of San Diego short sales including: short sales in Carmel Valley, short sales in Del Mar, short sales in Rancho Santa Fe, short sale in Torrey Hills, short sale in downtown San Diego, short sales in La Jolla, short sales in La Costa, short sales in Carlsbad... and short sales all over San Diego county. We have a process and a system for you to feel comfortable through the process from beginging to close.
Short sales experts Peter Lewi, Dawn Boquet, and John Fagan discuss the future of San Diego short sales here in the show link below:
Listen to the interview here
http://www.blogtalkradio.com/sandiegorealestate/2011/12/14/san-diego-real-estate-today
Rent or Buy
We all know the real estate market is priced to sell as a whole. Finding the right property can be a challege. We here at Search-SanDiegoRealEstate.com are here to help you through the process. We have helped people who couldn't afford their "dream" home a few years ago... and now they can... we help sell your current house and get you into that affordable dream home. We have also been a resource for those needing to relocated. If you have curiosity about moving up during this real estate down turn and if you you have a little equity... don't be afraid to move up... let's talk about those numbers, get a hold of us... email us here.
Specifially today, we want to share with you, why is it worth it right now to buy a home... if you are renting.
As we look at rent or buy... please plug in your numbers to the NY Times calculator below, great tool.
http://www.nytimes.com/interactive/business/buy-rent-calculator.html
In this example if your are spending $2900 a month in rent. It would be better for you to buy a $550,000 home for six years. You will spend less money in six years if you buy a home. After six hears, if you buy, your equity grows even more and it becomes even better for you.
Del Mar Real Estate
Del Mar Homes For Sale.
Del Mar was named by the wife of a contractor-engineer that worked on the railroad. He bought a piece of land on
the north side of San Diego and built a tint city , later she (Ella) named the place "Del Mar" It was incorporated in 1959 , is the smallest municipality in San Diego but at the same time one of the most beautiful in the united states.
Even though the real estate market has kept declining in some areas and it did in San Diego in the 2011 , is still considered among the most expensive areas nationwide.
Del Mar homes for sale should be listed with a reliable Del Mar realtor , this is a way for the seller to be sure he has a source with the right and trusted compatible listing price. Also an experienced realtor will make sure to pre-qualify the prospect so no party involved waste their time.
When listing a home it is an important factor to reach buyers in other parts of the country by working with the right advertising networks. Also for the listing agent to make it accessible for other realtors through the multiple listing system (MSL), this will allow them to see all del mar homes for sale.
A Del Mar realtor will probably hold an open house when the property shows no significant traffic. The condition and presentation of the home will be key in getting top dollar.
When the home is going to be shown is advisable for the owner not to be present. is not advisable for the buyers and seller to participate in the showing together, since it can get emotional and personal on both sides.
The financing is a crucial point to have available, if negative situations arises with the bank and the home is free and clear .maybe it will be a good idea for the seller to offer private financing even for a limited amount of time. Also the seller can help paying part of the closing costs or taking a second back if the bank allows it.
International Buyers
International buyers are taking advantage of local San Diego real estate even without the
pending green card bill. In the WSJ published this last October 2011
Foreigners have accounted for a growing share of home purchases in
South Florida, Southern California, Arizona and other hard-hit markets. Chinese and
Canadian buyers, among others, are taking advantage not only of big declines in U.S. home prices and
reduced competition from Americans but also of favorable foreign exchange rates,
foreigners who spend $500,000 in cash on U.S. real estate would be given visas.
To fuel this demand, the proposed measure would offer visas to any foreigner
making a cash investment of at least $500,000 on residential real-estate—a
single-family house, condo or townhouse. Applicants can spend the entire amount
on one house or spend as little as $250,000 on a residence and invest the rest
in other residential real estate, which can be rented out.
Many foreign home buyers from Canada, China,
Europe are interested in buying a second home in the United States, however
finding the information regarding tax laws, state real estate laws, and
properties can be a challenging task. The internet has certainly made the
process easier to view homes online, and the information online isn't always credible.
Foreigners are left to connect with a local real estate broker or realtor for
help and advice to purchase property here in the United States.
In San Diego, where the weather and quality of life already attract the masses is
garnering a large share of new residents from other countries. If this proposed
bill passes it is sure to increase the value of homes and pressure on the
inventory is certain. For those looking to get in, now is a great to time look
at San Diego Real Estate, ocean view homes, beach front homes, gated community
homes.
Many answers and details can be found on our international clientele page
.
San Diego Real Estate Insight
MARKET SNAPSHOT
Real Estate Insight
Who Do You Have In YOUR Network?
At the risk of sounding like a cell service commercial, surrounding yourself with the right people to call on when you need them is more than just common sense in today’s swiftly changing world... it’s yet one more way to protect your family and friends.
If your roof is leaking, who do you call? Need a plumber in an emergency? Who can you trust? It’s not uncommon for families to have their doctor’s number ready to dial when someone gets sick, but it’s smart to also know what attorney to call with a legal question, the best appliance repair person for fast, honest service and of course, the real estate professional you can trust to give you the most accurate and timely answers to your real estate questions in today’s market.
Much like the friend you know you can call on at three in the morning, having the right people in your “network” goes a long way to maintaining that peace of mind we all seek these days. We hope you’ll keep us among your preferred contacts to call, and if you need some help finding the other trusted resources for your family, please let us know. We’re happy to help!
Luxury Real Estate San Diego
Cardiff by the Sea remains steady with only a slight dip in pricing over the last six months. Coronado has experienced a drop in over all real estate pricing Q4 2011 to Q1 2012. La Jolla real estate prices seem to mimic Coronado with a bit more drastic decline in pricing in December 2011 heading down into 2012. Del Mar real estate pricing saw a bit of an increase in Q4 and set to decline slightly in Q1 2012. If you are looking to move up into one of our luxury property markets, consider the costs involved and the upside as well. For a free market analysis of you home and a comparative market analysis on one of our luxury home markets, click here.
Del Mar Real Estate Update
The median price per square foot for homes in DEL MAR as of February 05 2012 is about $720. This is a combined average of all area's in Del Mar 92014. Please contact us to receive information in the area you are specifically looking for market information. Real Estate prices differ greatly by area: Olde Del Mar, Del Mar Heights, Del Mar Terrace and Del Mar Beach Colony all have different price averages.
DEL MAR Real Estate Market Today
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