san diego real estate: Used Car Anyone?
- 08/03/10 04:18 PM
Was this your Realtor? Do you remember in 2004 and 2005 when selling San Diego real estate was easy as pie? There were well over 28,000 real estate agents in San Diego county and the general public was annoyed. It was easy money and everyone wanted it. How about now? Well guess what. The California Department of Real Estate reported last Wednesday that they are revoking licenses at a record rate. Seems that used car salesmen and come out in all markets. Looks like the used car salesmen are dropping out and the slimeballs are getting kicked out! Read more … (6 comments)
san diego real estate: When a Buyer Wants to Pay More Than the Appraisal....
- 07/31/10 04:57 AM
Take it! I should end the blog there, but in fairness, I'll fill you in on some news you can use. Sellers right now are in a predicament. If they really want to sell, they have to accept the current financial and economic situation. Just like there is no magic wand out there for the economy of the United States of America, there is no magic wand for the price that your home will appraise for. Webster's dictionary defines "appraiser" as someone who "evaluates, especially in an official capacity." An appraiser is the authority on what your home is worth. What happens … (4 comments)
san diego real estate: How Do You Close Escrow In California?
- 07/27/10 04:03 AM
I'm asked this all the time. Do you have to be there at closing if you're buying or selling? Do you have to sit at a closing table? This question has been popping up often because I've had quite a few clients from out-of-area. I'm going to really go out on a limb and say that I hope that means that everyone is doing better regarding employment and finances. We can all hope, right? So often out-of-area homebuyers ask if they have to be at the closing, and often they have a horrible story about a closing with attorneys arguing, angry sellers, … (3 comments)
san diego real estate: Red Flags that Mean it's a Real Estate Scam!
- 07/23/10 07:19 AM
You'd think after everything that has happened with the housing economy (and the economy in general) that everyone would lay off the scams. Well they won't. Real estate and mortgage fraud are vast. An estimated $4 billion to $6 billion in annual losses result from it according to FBI reports. Entire communities can be damaged, as we've seen recently. Real estate and mortgage fraud can lead to foreclosures, lenders raising rates and fees to compensate for losses, and spiraling home values. What is scary about this is that the crimes are usually complex and they usually involve more than one party, … (4 comments)
san diego real estate: Do Tough Economic Times Making Keeping a Pet More Difficult?
- 07/22/10 04:39 PM
Have changes in your current economic status made it harder to keep your pet? I was thinking about this and wondered about people who have come to the unfortunate realization that they might have to give up their pet. It's a tough and hard call to have to part with pets no matter how long you've had them especially if you're blindsided by economic changes that force your decision. After thinking about how horrible it must be to have to give up a pet because times are tough I looked around to see if there were any resources for people in … (6 comments)
san diego real estate: You're Fired!
- 07/22/10 04:36 PM
Every once in awhile, especially in this market, a seller has one of those buyers that he just can't deal with anymore. Truthfully, you've lived in your home for years and years. Raised your kids in the home, did upgrades, had parties, had dogs tear up the furniture, sat around the table and had tea and coffee with friends on rainy days, gazed out the window. Your home has lots of memories in it. You've done so much in this home and now...this home is like part of your life and you have a buyer purchasing it who will most likely … (6 comments)
san diego real estate: Should You Pay Your Rent If the House is Being Foreclosed On?
- 07/19/10 11:39 AM
Now this is one of the questions I've been asked several times. Many renters out there have seen their rental properties hit by the recent increase in foreclosures. More often than not the landlord doesn't inform them that anything is wrong and tenants find out when someone comes and puts up an announcement on their door. It's a sad way to find out you might be moving by no fault of your own. So what's the answer to the title question of this post? Well, I'll give you a clue to the answer. Let's just say that the answer isn't going … (3 comments)
san diego real estate: How Many Transactions Has My Agent Done? Good or Bad?
- 07/19/10 06:59 AM
The CEO of the Houston Association of Realtors was forced to pull the plug on a program which showed how many transactions each agent has done so you can make an informed decision of which agent you would like to hire to sell your home or represent you in a transaction. Quite honestly, if you dig deep enough, you can find out how many transactions any given real estate agent has done and how long they have had their license, however the information is not readily available at your fingertips in one quick easy location.
Days after launching this tool … (3 comments)
san diego real estate: Old Town Beauty Restored to Pristine Condition!
- 07/17/10 11:03 AM
As a lifetime resident of San Diego I heard some news that made me very excited. I remember Old Town was always a happening place with plenty to do, see and not to mention eat. Casa de Bandini, named after the original owner Juan Bandini, was one of mine and San Diego's favorite spot to get cool and refreshing libations along with tasty dishes. It had a wonderful open patio in back where one could sit back and enjoy the great year around weather. It was bought by Albert Seeley in 1869 and operated under the new name of The Cosmopolitan … (2 comments)
san diego real estate: New Program Makes Solar Energy More Affordable for Homeowners
- 07/13/10 04:50 AM
The sun shines every day in San Diego (besides last week), why don't we use solar energy more? People have been pushing for solar power for years but the big hold up is the cost to use it. It looks like that might change with a new tax program. A 60-employee panel installation firm that has been behind some of the SAn Francisco Bay Area's biggest solar power arrays has gone mainstream, scaled up operations and driven down costs but still only generates less than 1% of the nation's electricity. Why?
If you have San Diego real estate, you'll notice … (2 comments)
san diego real estate: Failing Credit?
- 07/12/10 07:33 AM
43 million people + now have a credit score of 599 or below putting them in a "poor risk" category for borrowing money. Five or six years ago everyone was living the life of a rockstar, buying up that San Diego real estate and sporting a Mercedes, and now we see the foundation of what we stood on and what sustained us falling away. The credit scores of millions more Americans are sinking to new lows. 25 % of consumers which is almost 43 million people have a credit score below 599. That puts them in a poor risk category for lenders. … (1 comments)
san diego real estate: Seller's, What Are Buyers Looking For?
- 07/09/10 03:31 AM
Let me ask you a question, with today's consumer values in the real estate market, where do we need to be positioned effectively to get your home sold? How many of you have heard that buyers are looking for a "deal"? Here is what happened recently on a listing in Mission Hills. Beautiful 3 bed, 3 full bath property in South Mission Hills just off of Goldfinch. We went in initially with the low range of 549K. 19 days passed without a single offer even though we had the 5th cheapest house in the whole zip code with 1 or 2 … (2 comments)
san diego real estate: Who Showed My House and Dropped Coca Cola on the Carpets?
- 07/07/10 03:48 AM
Did this happen? Yup, it sure did! One of the issues of having a lockbox on your property is not only that accidents may happen, but I cannot stress enough that you should always have your jewelry and valuables locked away. Always? Yes, ALWAYS!
San Diego real estate agents have to have a squeaky clean record, there can be no felons in the industry, we can't get a DUI, no back child support, I believe that there is a limit to misdemeanors and you cannot have been found guilty of Megan's Law. (Fact is, I don't belong to any of these … (4 comments)
san diego real estate: The One Thing You Must Know on the 4th of July
- 07/04/10 05:03 AM
Happy 4th of July, happy birthday America, and see you for the fireworks San Diego! If you are still making up your minds on what to do for the 4th of July in San Diego click here for a list of just about anything you can imagine. On this great day, many honor those who have served or are serving their country, and to do my part, I'm writing about an assistance program for the military that is little known or spoken of. What is it?
The Military Homeowners Assistance Progam (HAP) which aids in avoiding short sale and foreclosure … (3 comments)
san diego real estate: Walking Away From Your Home? Fannie Mae is About to Fight Back
- 07/03/10 04:08 AM
Has your mortgage got you feeling like you are trying to get away from a bad storm? If you can still afford to pay it, you may not want to walk away. Fannie Mae plans to fight back at homeowners who are able to pay their mortgage but decide it's not worth it. If you have been considering this option, Fannie plans to go after you in court to limit your access to a home loan for seven years. Fannie is going to have the companies servicing its loans recommend when it should pursue a definciency judgment
- big words … (3 comments)
san diego real estate: How to Get a Piece of the $700 Million Coming Our Way
- 07/02/10 02:33 AM
700 Million to trim underwater mortgage California is going to use Federal money to pay down mortgages for struggling homeowners, don't miss the train on this one! This program will be launched on a first-come first served basis, The California Housing Finance Agency will be using this money to trim individual mortgages by up to $50,000 and lenders will be asked to match that amount. That is potentially $100K off what you currently owe. Not a bad deal.
The criteria for qualifying are still foggy and unclear. Authorities say that it is for low to monderate income families. It also … (5 comments)
san diego real estate: 7 Key Points to Combat Toxic Drywall
- 06/26/10 04:49 AM
Homeowners from 37 States across the nation have complained about toxic drywall. What is this phenomenon? Around 2008 homeowners began complaining that they had houses with smelled like rotten eggs or burning matches. Rotten eggs? I giggled over that, but apparently it was much worse than just the nasty smell, their walls were turning black. Not to mention that the smell was so bad it was making them sick and the coil for the air conditioners was being eaten away by it, rendering them useless. At that good old peak of 2004 and 2005, the notorious years which lead to our real … (0 comments)
san diego real estate: The Grand Slam on the San Diego Real Estate Market
- 06/25/10 10:51 AM
To help out on States that were slammed hardest by the real estate market, President Obama has approved more plans to help homeowners. The program is going to 5 States, California being the largest, which will get $700 million to assist 46,000 borrowers. The choice of States was established by which ones had highest unemployment and/or had seen a drop of 20% in home values. What effect will this have if you have San Diego real estate and are underwater?
California will receive $699.6 million to implement a plan that includes earned principal forgiveness, funds to address delinquent loan arrearages, … (0 comments)
san diego real estate: The Cold, Hard Truth About Deposits
- 06/23/10 02:50 AM
The buyers on the other side of your sale are cancelling escrow. No big deal, right? Someone else will buy it and anyways you get to keep their deposit. A nice hefty sum, at 3% of your 500K San Diego real estate purchase price, that works out to a lovely 15K to go shopping. The buyers have a "contingency period" (period in which any potential issues such as inspections, appraisals, disclosures, etc are reviewed and they cancel escrow with no recourse) of 17 days, and the ones you were in escrow with already removed their contingencies. They are in the wrong … (3 comments)
san diego real estate: Beware of the 11th Hour
- 06/12/10 01:23 PM
Isn't it fun? Each and every day there is something that has changed in real estate in San Diego or throughout the US and you better be on your A-game, because in this industry what you don't know WILL hurt you. So, in an effort to minimize "bad loans", Fannie Mae is asking lenders to take more responsibility for their files. Most things won't be much different for you, most of these rules will be extra work for your loan officer like social security number validation checks. There is, however one major consumer issue:
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