Buyer's Agent

I was talking recently to a young couple who are considering buying a home.  They seemed a little nervous but that is to be expected.  I love working with first time buyers, while some agents shy away from them because they can be demanding and indecisive, I love it.  First time buyers are fun to work with and I guess the Mom in me comes out.   I shared with this couple some of the great opportunities out there including the low interest rates and showed them some great property deals.  I knew they were first time buyers so I explained to them the importance of getting preapproved for a loan and gave them some contact numbers.  I also told them the escrow and home buying process. 

I was very careful to keep things simple but after we had talked for awhile I got the feeling that they were uncomfortable about something.  I asked some questions to see if I could determine what was going on.  I could not figure out what was bothering them so I finally just asked.  Come to find out they were eager to start the process of buying a home but they did not think they could afford to pay me and have the needed money for a downpayment.  They knew they needed and wanted me to assist them but they were embarrassed because they did not thing they could pay me!

You should have seen the relief on their faces when I explained to them how agent commissions are charged.  I told them that when a home go on the market the seller agrees to pay the commission  to the agents, both the buyer's agent and the sellers agent.  They were so happy when they realized they did not have to pay me upfront for my services.  They are now working on getting their preapproval and starting the process of buying a home in El Cajon.  I am so excited to be working with them. I can't wait to help them find their new home, help them through the process and the best part...hand over the keys!

Granite Hills Real Estate

As you know I am holding an open house this Saturday from 12:00 - 3:00pm at 1536 Robbiejean Place, in Granite Hills.  I wanted to share with you the local real estate market report for the Granite Hills area of El Cajon so you would understand what the market is doing.  I will have a list of properties that have recently sold in the area at the open house for you to review along with a list of other properties that are currently on the market.  When you are buying a home in El Cajon or any other area, it is important to understand the local market so you will be able to submit an offer with confidence.  If you are currently considering buying a home, please give me a call.  I would be happy to provide this information for any area.  I look forward to seeing you Saturday.  Come on by so I can answer all your real estate questions.

El Cajon Open House this Weekend

Come see this great foreclosure in the Granite Hills area of El Cajon.  I will be holding an open house on Saturday from 12:00 - 3:00pm.  The address is 1536 Robbiejean Pl.  I hope to see you there.

Looking For Home For Sale in El Cajon

I am looking for a home for sale in El Cajon, east Spring Valley, or parts of La Mesa.  The buyer is looking for at least 2 bedrooms and 2 full bathrooms.  They would like a minimum of 1000 square feet.  The maximum price range depends on the area and the condition, but under $250,000 would be ideal.  They do not mind an attached home.  If you or any of your friends are thinking of selling such a place, please contact me first.  No worries if it is going to be a short sale, the buyer is willing to wait.  Please share this post with anyone who might be able to help.  Thank you.

How to Fix The Housing Market

Many people are asking how to fix the housing market.  The issue is debated and argued but nothing seems to get done.  Big surprise right?  What all the bigwigs are missing is the old saying that the definition of insanity is doing the same thing over and over and expecting a different result.  What needs to be done is simple.  They need to stop the insanity.  They need to stop focusing on the banks and focus on the people.  Common sense needs to be injected into the situation.  The banks should not be bailed out or given incentives.  They need to stop rewarding the banks for making ridiculous decisions.  The finger pointing when things don’t work needs to stop.  The focus needs to be put back on the people.  It is the people that will fix the housing market, not the banks.

The banks and housing market reflect the fear of the shadow inventory.  The houses that have been foreclosed on but have not yet hit the market and the homes that are soon to be foreclosed on.  This shadow inventory has everyone running scared and fuels the doom and gloom attitude that does nothing to instill confidence in the market that home buyers need to confidently get off the fence.  The solution is really quite simple.  Quit worrying about it and do something.

The REO properties need to be handled in an intelligent manner.  Right now the banks use REO agents to sell their properties.  Many of these agents have so many REO listings they cannot possibly market the property in a way that would solicit the highest offer.  Many times it is nothing more than putting up a sign and putting it in the MLS at a drastically low price.  The  property is sold to the highest bidder within 7 days.  What does this do to the local market?  It is drives the prices even lower.  This hurts local homeowners and the banks as well.  The next time the bank lists a property for sale in the same neighborhood they will need to sell it for even less.   The banks are shooting themselves in the foot  simply because once it hits the market they want it sold and sold quickly.

The other part of the shadow inventory are the homes that are in foreclosure but have not been taken back by the bank as of yet.  This is where common sense definitely needs to be injected.  Time and time again I have seen banks make decisions that actually increase their REO holdings.  Here are some examples.  The home seller puts their home on the market and it is going to be a short sale.  An offer comes in and is submitted to the lender for approval.  The first mistake the bank makes is that it will take months for the bank to make a decision on whether or not to accept the short sale.  All the while the market is declining, prices are dropping.  By the time the lender makes a decision to accept the short sale, the buyer has changed their minds since the property is no longer worth what it was when they submitted the offer.  At this point rather than keeping the file open so the property can be remarketed the banks will close the file so when another offer comes in the whole long process starts over again leading to a vicious circle. 

Sometimes, the buyer stays strong and wants to proceed with the purchase once the bank has accepted, so what does the bank do?  They create yet another hurdle for the buyer.  They shorten the time the buyer has to close escrow.  They make it very clear that if the property doesn’t close in say 20 days the deal is off.  I have seen deals where Bank of America was the lien holder and demanded escrow close in 25 days from acceptance.  The buyer was getting a loan and because of all the underwriting requirements it did not get done.  The bank refused to extend the escrow and the deal was lost. The bank took the home back through foreclosure.  Oh and the ironic part was that the buyer was getting his loan with, you guessed it, Bank of America. 

The third example is probably the most insane.  The short sale has been approved.  Escrow is proceeding and the buyer’s loan is on track.  While this is all going on the bank continues with the foreclosure process and is now to the point where the trust sale date has been set.  The obvious course of action would be for the bank to postpone the foreclosure date.  But again with the lack of common sense they are known for, they refuse to postpone or cancel the foreclosure date.  They are less than 5 days away from closing in escrow and the property going to the new buyer but they foreclose and take the property back.  Congratulations, they just got themselves another REO holding.  Why?

We have been focusing on the insane, greedy banks.  Bailing them out and offering incentives to do what they were already suppose to be doing.  This is not the answer.  The banks are not going to fix the housing market, the people are.  It will be the regular home buyers and sellers who have always been the foundation of the real estate market who turn this market around.  We need to focus on the people and offer them the bailouts and incentives.  And I do not mean just the people on the verge of losing their home.  In order to stimulate the market you need to empower the masses.

Right now many homeowners are trying to do what is right and short sale their property rather than simply walking away and letting it go to foreclosure.  As described above the banks are doing nothing to simplify the process.  There needs to be new rules put into effect to protect both the seller and the potential buyers.  Once a short sale is initiated by the seller, it should be like it is with a bankruptcy.  The foreclosure process stops.  Period.  No trustee sales date can be set.  The banks should also be forced to accept the short sale at the appraised value within a 30 day timeframe.  If they do not there should be serious financial consequences to the bank.  Priority of purchase should be given to owner occupied buyers.  Rather than how it is now where the banks would rather go with an investor/cash buyer.  It is kind of funny that the banks would prefer not to go into escrow with a buyer who is getting a loan.  I guess they understand how difficult lenders are to work with.  Even they do not want to do business with themselves.

Right now one of the biggest problems in the real estate market is that people do not have equity in their homes.  They cannot sell their current home.  I talk to people all the time that would love to buy a new home but they can’t.  They are prisoners of their house.  They are upside down.  This needs to be fixed if we are going to see any significant increase in market activity.  The best way to accomplish this would be to offer these people an incentive, a bailout of sorts.  Allow them to sell their current home at current market value and buy a new home.  Force the banks accept the proceeds from this sale as payment in full for their current mortgage. But the sellers must agree to get the new mortgage with their current lender.  It is kind of like trading a mortgage.  The one thing that would also have to be considered is that the new mortgage would have to be at the going interest rate.  I can see it already, if the lender knew they were going to get the loan they would jack up the rate.  We have to watch those darn greedy banks.  This would definitely stimulate the housing market by allowing people to buy new homes and sell their current one.  With this incentive to sellers, the number of short sales would decline but more importantly the REO inventory would not continue to grow at the current rate.  The market would become stimulated with buyers and sellers.  People who are simply looking for lower mortgage rates would now be potential buyers.  Can you imagine the number of people who would hit the housing market running to take advantage of something like this?  This would help the millions of people who are trapped in their mortgage. It would help the people that want to refinance but can’t because they have no equity.  It would help the people who want to do a short sale but can’t because they are current on their payments or they do not want their credit hurt.  It would help the people who are current on their mortgage but want to make a move.  Finally it would help the masses, the people.

Spring Valley Real Estate

As you know I am doing an open house this weekend for a home for sale in Spring Valley.  For those of you who are planning on attending I thought it would be good to share with you a real estate market report for Spring Valley.  A big part of buying a home is understanding the local market.  That way you can make an informed decision regarding how much to offer on a property and it will give you the ability to know a good deal when you see it.  This report shows you if the area prices are increasing or declining.  Before you submit an offer to purchase any property you should know what compartable properties are listed for but more importantly you should know what comparable properties SOLD for.  Especially in this market since bank owned properties are often listed for considerablly less than what they actually sell for.

It is imperative that you know what the house will sell for.  This will inable you to submit an offer that is neither too low, where you risk being outbid or too high.  If you are considering buying and selling a home, talk to me first.  I can prepare a market report for any area and show you what similar homes have sold for.  I am here to assist you in making informed decisions.  This goes for sellers too.  It is even more important that you understand the market so you list the property to maximize your profit but at the same time at level that will get it SOLD.  Call me with any questions. 

 Click here for Spring ValleyMarket report

Spring Valley Open House

Come to my Open House this weekend. The address is 2520 Doubletree, Spring Valley 91978. Saturday, September 17th, 12:00- 4:00pm.  Bring your friends and family.  I look forward to seeing you and answering all your real estate questions.  Spring Valley Open House Flyer

Tips for Real Estate Investors

With home prices at such low levels and interest rates historically low, I am working with more and more investors. Some investors are interested in “flipping” the property, which means buying a property that needs repairs and remodeling with the intent to sell. Other investors want to purchase a property to be used as a rental. Both options are viable options in this market but they are not necessarily searching for the same types of properties and there are different concerns and things to watch out for depending on what you goal is.


If you are considering flipping a property you need to understand the local real estate market. You will need this information in order to help you determine if the purchase, repairs and subsequent resale will be profitable.

1. Time is of the essence when flipping a property. The longer you own the property, the more it will eat into your profit (mortgage payments, taxes, insurance).

2. When determining the budget and plan make sure you take into consideration the closing costs for both the purchase and the resale. There will be costs on both sides of the transaction.

3. You must be able to accurately determine what the cost of repairs will be and have the means to get the work done quickly. Many flippers are themselves contractors who can assess the work that will need to be done and can do the work themselves.

4. You need to understand what buyer’s are looking for. You must tailor your remodel to suit both your budget and the taste of potential buyers. You may find great purple carpet on sale, but will that help you sell a home?

5. The work must be done in a professional manner. The buyer’s will have a home inspection done and the inspector will tell them everything they find wrong with the property. If you have cut corners or tried to cover up defects, the buyer will find out. As a result, you will scare the buyer away from the deal or if it closes you will open yourself up to lawsuits.

6. You must be realistic when it comes time to sell. You need to know what the average time on the market is and what similar homes are selling for. Do not fall into the trap of listing the property too high, this will cost you in the end. Get it SOLD.

Now may be the perfect time to buy an investment property that will be used as a rental. There are things for you to consider before you make the purchase.

1. You must understand not only the real estate market but also the rental market for the area you are considering. Cheapest is not always the best. You need to know what similar properties have sold for. You do not want to over pay for a home. At the same time you need to know what similar properties are renting for and if the area you are considering is a popular area for renters.

2. You need to determine the cost of bringing the property up to rental condition. As with flipping a property, the longer the repairs take the more money you lose.

3. Be reasonable with your profit projections. Make sure you have a plan to cover the mortgage should the tenant suddenly lose their job and stop paying rent or if the tenant moves out and you need to find a new renter. You will also need to budget for repairs that may be needed.

4. You will also need to determine if you are going to management the property yourself and be responsible for collecting rents and doing repairs or if you are going to hire a property management company to take care of this. Add these costs to your budget as well.



There are many great opportunities in the real estate market right now. But as with anything, there is no such thing a sure thing. You must do your homework and be informed. Do not be unrealistic with your goals. Surround yourself with knowledgeable professionals who can assist you and guide you through the process.

How Keep Ants Out of Pet Food Bowls

San Diego is being hit with high temperatures and high humidity.  While this is making us very uncomfortable, it may be causing another problem... ANTS.  I was talking to a friend of mine last night who had returned home to ants invading her Alpine home.  She was waging war on a steady stream of ants marching straight for her pantry.  She was using all the typical defenses we use (windex, raid, boric acid).  At the end of the battle I asked her if they were getting in the dog and cat food bowls as well.  She said no, that she had a solution for that.  It was such a great idea I thought I would share.  She takes the bowls of pet food and floats it in another bowl that contains water.  The ants will march over the rim of the first bowl and drown in the water leaving the bowl of pet food untouched!  What a great idea!  Maybe she should put her pantry food on floaties in the pool! :)

What are your best tips for dealing with ants?

El Cajon Real Estate Market Report - August 2011

Here is my real estate market report for El Cajon, California for August 2011. I have included the number Active, Pending and Sold real estate listings. These numbers are for single family detached homes only. I have not included condos, vacant land or multi unit buildings.  They are broken down into the 3 El Cajon zip codes.

92019
There are currently 88 active listings (92019 including Rancho San Diego), ranging from $200,000 for 3 bedrooms, 2 bathrooms, 945 square feet to $1,875,000 for 4 bedrooms, 6 bathrooms, 5890 square feet.

57 properties are pending (in escrow).

32 properties sold (closed escrow) in August, ranging from $155,000 for 3 bedrooms, 1 bathroom, 1011 square feet to $662,000 for 3 bedrooms, 3 bathrooms, 2802 square feet.

The average time on the market for the properties that sold was 92 days.


92020
There are currently 91 active listings (homes for sale in El Cajon, 92020), ranging from $183,900 for 3 bedrooms, 2 bathrooms, 948 square feet to $1,015,000 for 4 bedrooms, 3 bathrooms, 3175 square feet.

44 properties are pending (in escrow).

22 properties sold (closed escrow) in August, ranging from $185,000 for 2 bedrooms, 1 bathroom, 816 square feet to $785,000 for 4 bedrooms, 3 bathrooms, 3494 square feet.

The average time on the market for the properties that sold was 85 days.


92021
There are currently 110 active listings (homes for sale in El Cajon, 92021), ranging from $140,000 for 2 bedrooms, 1 bathroom, 681 square feet to $1,550,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.

57 properties are pending (in escrow).

23 properties sold, closed escrow in August, ranging from $80,000 for 3 bedroom, 2 bathroom, 1176 square feet to $640,000 for 5 bedrooms, 4 bathrooms, 3578 square feet.

The average time on the market for the properties that sold was 65 days.

There you have it.  If you would like me to run the numbers on another area, please feel free to give me a call.  Take care and have  great month.

Jamul Real Estate Market Report - August 2011

Here is my real estate market report for Jamul, California for August 2011. I have included the number Active, Pending and Sold real estate listings for the 91935 zip code. These numbers are for single family detached homes only. I have not included condos, vacant land or multi unit buildings.

There are currently 92 active listings (Jamul homes for sale), ranging from $220,000 for 1 bedroom, 1 bathroom, 640 square feet to $1,300,000 for 3 bedrooms, 2 bathrooms, 1100 square feet.

14 properties are pending (in escrow).

8 properties sold (closed escrow) in August, ranging from $258,000 for 3 bedrooms, 2 bathrooms, 1580 square feet to $1,200,000 for 4 bedrooms, 4 bathrooms, 4000 square feet.

The average time on the market for the properties that sold was 162 days.

Alpine Real Estate Market Report August 2011

Here is my real estate market report for Alpine, California for August 2011.  I have included the number Active, Pending and Sold real estate listings for the 91901 zip code.  These numbers are for single family detached homes only.  I have not included condos, vacant land or multi unit buildings.

There are currently 92 active listings (Alpine properties for sale), ranging from $210,000 for 3 bedrooms, 2 bathrooms, 1360 square feet to $2,595,000 for 3 bedrooms, 3 bathrooms, 3000 square feet.

28 properties are pending (in escrow).

13 properties sold (closed escrow) in August, ranging from $170,000 for 2 bedrooms, 2 bathrooms, 1237 square feet to $575,000 for 4 bedrooms, 5 bathrooms, 4207 square feet.

The average time on the market for the properties that sold was 52 days.

Are Bigger Homes Better?

I recently read a article about America's most expensive homes that are for sale. I marveled and was amazed at the pictures of huge rooms, high ceilings, beautiful landscaping, and huge numbers of rooms. But then I started to think about it and realized that I would not want to own one of those huge houses. The cost of owning such a home would be astronomical! I am sure it is easy to see this on such a grand scale but what about on a smaller scale?

As a Realtor in Rancho San Diego I work with people buying homes everyday and we are always striving to find homes for sale that best meets their needs, wants, desires and budget. As you know, the price of homes has declined drastically over the last few years. Homes are more affordable than ever. As result you can now afford a larger home and larger lot than previously. Combine the price reduction along with historically low interest rates and you now have more buying power than ever. Whereas before you may have been only able to purchase a 2000square foot home, you may now be able to buy a 3000+ square foot home. Or maybe rather than a 10,000 square foot lot you can afford an acre.

The question becomes, how big is too big? Of course, much will depend on the size of your family and your own individual needs and tastes. But I do not want you to fall into the trap of believing that bigger is always better. The costs of owning a home is going to go up with the size, whether it is the size of the house or the size of the lot. Do not stretch your budget to the limit to gain additional square feet or acreage unless you factor in the additional costs.

The larger home is going to cost you more to heat and cool. There will be more windows to replace, more rooms to furnish and decorate, more faucets that leak, outlets that go out, a larger roof to replace, more walls to paint, higher flooring costs and so on and so on. The larger lot is going to cost more to landscape and irrigate. Those water bills can go up very quickly. Will you need to hire a landscaper? Will you hire someone to clean? These are all things to consider.

So is a larger home better than a smaller home? Is a large lot better than a smaller lot? I do not think there is a right or wrong answer. It depends on the individual and the circumstances. What are your thoughts?