America's Finest Beer Festival is CANCELED

Now you have time to search for properties since America's Finest Beer Festival, the beer festival scheduled for this weekend at Qualcomm Stadium, has been CANCELED.

Valerie Harrison, the President and CEW of Rancho San Diego/Jamul Chamber of Commerce explains in a letter that the event has been canceled because the organizers realized they are "financially overextended.  Tickets purchased on Ticketweb will be refunded immediately and booth and VIP tickets will be refunded ASAP.

SB 458 Short Sale Law - What does it mean?

Last week Gov. Jerry Brown signed SB 458 into law. So what exactly does that mean to you? The new law requires all lenders that agree to a short sale, must accept the agreed upon sales price as payment in full. This applies to both first and second mortgages. Last October, California enacted SB 931 where first lien holders were prohibited from going after short sale sellers for any debt deficiency after they accepted the short sale. SB 931 did not apply to junior lien holders. So with the new law both primary and secondary lenders that accept a short sale must accept the sales price as payment in full. SB 458 includes an urgency clause that makes it effective immediately.


If you were holding off on doing a short sale for fear of having to pay the difference, you should now reconsider short selling your home. If you are struggling with your payment, behind on payments and on the verge of foreclosure, please give me a call. I have discretely assisted sellers with homes for sale in Alpine, El Cajon, Jamul, and many other areas of San Diego county. While a short sale may not be what you really want, it may be a better alternative to foreclosure.  If you would like to search local real estate to compare prices of homes simalar to yours, feel free...Property Search.

Why Do People Buy A Home?

I read an interesting article about why people buy homes.  We hear a lot of talk about price but you may be surprised to hear that there are many other factors that go into making the decision to purchase a home.  It doesn't matter if you are buying in Alpine, Jamul, Rancho San Diego, or La Mesa, there are many reasons people want to buy a home. 

In a National Survey, the top five reasons given, for buying a home, in order, are:

1.  It means having a good place to raise children and provide them with a good education

2.  You have a physical structure where you and your family feel safe

3.  It allows you to have more space for your family

4.  It gives you control of what you do with your living space (renovations and updates)

5.  Paying rent is not a good investment


Want to read more... Why People Actually Buy A Home

Rancho, Jamul and Alpine All in the News

For those of us who live and work in San Diego East county, we all know what a great place it is to live.  Alpine, Jamul and Rancho San Diego all had recent stories in the news.  For those who are either new to the area or unfamiliar with our community, here are the stories.  Maybe, you are considering buying a home in Jamul, Alpine or Rancho.  If so, I have included some very useful links.

Jamul resident, Alexis Swanstrom, was crowned the second runner-up in the Miss Teen USA pageant. Alexis graduated from Steele Canyon High School and plans to attend the University of San Diego. Read more

Last Thursday evening about 40 people attended the parks advisory board committee meeting at the Rancho San Diego Library to discuss the possibility of creating a leash-free dog area at Lonny Brewer Park. Read More


Last Thursday evening the Grossmont Union High School District trustees voted to accept construction bids for the preparation, grading and infrastructure on the site of the proposed Alpine high school.
Read More

I hope you enjoy these stories and please feel free to share with anyone you know who might be considering buying a home in our great area.

Del Mar 2011 Race Schedule

Conforming Loan Limits To Decrease

We just had our office meeting and the big topic was the upcoming change in the conforming loan limits. In San Diego, it is currently set at $697,500.  On September 30, 2011 the conforming loan limits will be reduced.  No one knows for sure the actual amount it will be reduced but it looks like anywhere from $150,000 - $250,000.  This will be effective the end of September.

So what does this mean to you?  Well, right now you can purchase a home with a FHA loan up to the current limit of $697,500.  You would be able to do so with 3.5% down payment.  After the change you will need to stay under $457,500 - $547,000 depending on the new limit.  If you go over the conforming loan limit you would not be able to purchase with only 3.5% down, you would need a 20% down payment.  Also the interest for a loan over the limit is about 0.75% -1.5% higher.  This will cause your monthly payment to be considerably higher.

If you are thinking that this increase will only affect people in the middle range you are wrong.  Buyer's in the higher end market will also be affected especially if they are selling a mid-priced home in order to buy that luxury home.  There will be fewer buyers for the mid level home due to the change and the sales price may need to be adjusted down.

So what can you do now to protect yourself?  First of all, if you are considering buying a mid level home, do it now before the change in loan limit goes into effect.  Sure, prices might come down a little but if you look at cost versus price (as discussed in a previous post) you may not want to wait.  If you do not have 20% to put down, take advantage of the 3.5% downpayment FHA offers before the loan limit changes.

Sellers of mid level homes should also protect themselves.  If your home is currently on the market and not moving, especially if you are in the $600,000 price range, REDUCE and get it sold.  Once the loan limit goes into effect there will be fewer buyers who will qualify to buy your home.  If your home is not yet on the market and you believe it will be in the $550,000 - $690,000 price range, list it TODAY!!!  Do not wait until the pool of buyers gets smaller.  Give yourself the best chance possible to get it sold.  CALL ME TODAY!!!