There are some great events happening around town in San Marcos in September! If you are a Sinatra fan, check out the Sinatra tribute concert September 12 at the Wood House in Woodland Park.
Interested in becoming part of a committee to advise the City on the Update to General Plan? Applications are being taken through September 21. Visit the City's website at http://www.san-marcos.net/index.aspx?page=494 for more information.
You can also get the latest details on the University District Project and give feedback through September 14 at http://www.san-marcos.net/index.aspx?page=328.
The San Marcos Historical Society Museum has moved! It's now at Heritage Park in The Walnut Grove Park. The museum has been temporarily relocated to the Cox House in Heritage Park and both houses in the Park are available for tours. The Museum Building will be placed on a new foundation and open for tours by the end of the year. In addition to the Museum and historic homes, there will also be a new welcome center in Heritage Park, which is expected to be completed by the end of the year.
Love to cook? Check out the fabulous cookbook put together by the Kiwanis Club of San Marcos at http://www.kiwanisclubofsanmarcos.org/ which includes information about some of the historical families of San Marcos. For more details, contact Kiwanis member Steve Hall at 760 809 1637 or send an e-mail to Steve@HankinsAndHall.com.
Right now there are only 112 detached homes for sale in San Marcos. Those under contract include 120 which are listed as "contingent upon bank approval" (often known as short sales) and 160 which are truly in escrow without needing the seller's lender's approval. Additionally, another 53 homes have closed escrow in the last 30 days. That means almost 2 homes are selling every day - a much faster paced market than in was 18 months ago. We are often seeing multiple offers on homes. Interest rates are exceptionally low right now, but they will not stay at this low rate. If you know someone who is interested in buying, have them contact us to gain a good understanding of the market. If you are thinking of selling, give us a call to help position your home in the market to get the most interest and best price.
Home prices have been increasing now each month for the last 4 months. Will they continue to go up? Will prices fall once some of the bank owned homes currently withheld from the market are listed? Who knows? Market dynamics will definitely shift when the interest rates increase. Real estate is always local and is truly a supply and demand market. It is influenced by the supply of homes and the demand for them. It is also influenced by the supply and availability of money to finance the homes .... And the demand for that money. It is a fascinating market.
We have had good success getting short sales closed when we represent the seller. If you know someone who is having difficulty making their payments, please have them contact us. There are many options beside foreclosure!
We are also handling property management for our clients. We have a great rental in Shadowridge Crossings in Vista - a 3 bedroom /2 bath home.
Have a sensational September. Whenever you have real estate needs, think of Hankins and Hall! Call Lela at 760.591.0020 or Steve at 760.809.1637.
Right now, there are about 900,000 homes in California delinquent in payments according to Sean O'Toole from ForeclosureRadar.com. There are 265, 000 in some stage of foreclosure. Do you know how many were foreclosed in July? There were only 17,000. So banks do not appear to be in a rush to foreclose on properties.
At the market continues to evolve, we expect to see many adjustable loans reset in the year 2011. That may mean that short sales (homes being sold for less than is owed on them) may continue for the next several years. When we work for a seller who needs to do a short sale, we put together an impressive package for his/her lenders - usually about 150 pages of documentation. Rest assured, we take our responsibility to get a seller's short sale approved and closed very seriously!
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