The Federal Housing Administration (FHA) has extended the 90 day anti flipping waiver through 2014. This is good news for buyers who are using an FHA backed loan to purchase a property. FHA loans only required a 3.5% down payment. The extension of this waiver allows buyers to purchase a home that has been sold previously in the last 90 days.
If this waiver had not been extended, FHA buyers would not be able to buy a home that had been sold in the last 90 days. This would have seriously limited the number of properties they could purchase. FHA buyers are already limited by FHA standards as to the properties they can buy. You add the low inventory we have today and a FHA buyer would have had an even harder time finding a suitable property. I am so glad the waiver was extended.
Thursday, December 6, 2012
Monday, December 3, 2012
El Cajon Real Estate Market Report November 2012
Merry Christmas everyone. December is here and that means it is time to see how the El Cajon real estate market looked for the month of November. I am including the numbers for single family detached homes for all three of the El Cajon zip codes. If you would like information for condos or another area, please feel free to let me know.
92019
There are currently 49 active listings. Ranging from $235,000 for 2 bedroom, 1 bathroom, 1180 square feet to $1,688,000 for 4 bedroom, 5 bathroom, 4498 square feet.
47 properties are pending (currently in escrow).
24 properties sold in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 837 square feet to $875,000 for 4 bedroom, 4 bathroom, 3359 square feet. The average time on the market was 92 days.
92020
There are currently 37 active listings. Ranging from $220,000 for 2 bedroom, 1 bathroom, 1352 square feet to $1,595,000 for 6 bedroom, 5 bathroom, 5368 square feet.
47 properties are pending (currently in escrow).
22 properties sold (closed escrow) in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 648 square feet to $650,000 for 3 bedroom, 3 bathroom, 3628 square feet. The average time on the market was 46 days.
92021
There are currently 42 active listings. Ranging from $215,000 for 3 bedroom, 2 bathroom, 1704 square feet to $3,900,000 for 4 bedroom, 6 bathroom, 7745 square feet.
54 properties are pending (currently in escrow).
36 properties sold in November. Ranging from $160,000 for 2 bedroom, 1 bathroom, 804 square feet to $655,000 for 4 bedroom, 3 bathroom, 2870 square feet. The average time on the market was 49 days.
Wow, by looking at the numbers you can see there have been some serious changes in the real estate market. Inventory is way down and the buyers are back. If you are considering selling a home, now is the time to do it. Do not wait until after the holidays like so many others. Get your property listed NOW while there is less competition and the buyers are hungry.
I will be working through the holidays and I am here to answer all your questions. When you hear of anyone thinking of buying or selling a home, I would appreciate you recommending me. I would like to wish you and your family and very Merry Christmas and a safe and Happy New Year.
92019
There are currently 49 active listings. Ranging from $235,000 for 2 bedroom, 1 bathroom, 1180 square feet to $1,688,000 for 4 bedroom, 5 bathroom, 4498 square feet.
47 properties are pending (currently in escrow).
24 properties sold in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 837 square feet to $875,000 for 4 bedroom, 4 bathroom, 3359 square feet. The average time on the market was 92 days.
92020
There are currently 37 active listings. Ranging from $220,000 for 2 bedroom, 1 bathroom, 1352 square feet to $1,595,000 for 6 bedroom, 5 bathroom, 5368 square feet.
47 properties are pending (currently in escrow).
22 properties sold (closed escrow) in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 648 square feet to $650,000 for 3 bedroom, 3 bathroom, 3628 square feet. The average time on the market was 46 days.
92021
There are currently 42 active listings. Ranging from $215,000 for 3 bedroom, 2 bathroom, 1704 square feet to $3,900,000 for 4 bedroom, 6 bathroom, 7745 square feet.
54 properties are pending (currently in escrow).
36 properties sold in November. Ranging from $160,000 for 2 bedroom, 1 bathroom, 804 square feet to $655,000 for 4 bedroom, 3 bathroom, 2870 square feet. The average time on the market was 49 days.
Wow, by looking at the numbers you can see there have been some serious changes in the real estate market. Inventory is way down and the buyers are back. If you are considering selling a home, now is the time to do it. Do not wait until after the holidays like so many others. Get your property listed NOW while there is less competition and the buyers are hungry.
I will be working through the holidays and I am here to answer all your questions. When you hear of anyone thinking of buying or selling a home, I would appreciate you recommending me. I would like to wish you and your family and very Merry Christmas and a safe and Happy New Year.
Alpine Real Estate Market Report November 2012
Tis the season and time for the monthly real estate market report for Alpine. Here are the numbers for November.
There are currently 47 active listings in Alpine. Ranging from $212,500 for 3 bedroom, 1 bathroom, 1236 square feet to $1,795,000 for 2 bedroom, 3 bathroom, 2615 square feet.
25 properties are pending (currently in escrow).
12 properties sold (closed escrow) in November. Ranging from $175,000 for 2 bedroom, 2 bathroom, 813 square feet to $635,000 for 4 bedroom, 4 bathroom, 3707 square feet. The average time on the market was 43 days.
I would like to wish you and your family a very Merry Christmas and a safe and Happy New Year. The real estate market has changed in the last year and would be happy to answer any questions that you have. If you or someone you know is considering making a move in the new year I would appreciate your referral.
There are currently 47 active listings in Alpine. Ranging from $212,500 for 3 bedroom, 1 bathroom, 1236 square feet to $1,795,000 for 2 bedroom, 3 bathroom, 2615 square feet.
25 properties are pending (currently in escrow).
12 properties sold (closed escrow) in November. Ranging from $175,000 for 2 bedroom, 2 bathroom, 813 square feet to $635,000 for 4 bedroom, 4 bathroom, 3707 square feet. The average time on the market was 43 days.
I would like to wish you and your family a very Merry Christmas and a safe and Happy New Year. The real estate market has changed in the last year and would be happy to answer any questions that you have. If you or someone you know is considering making a move in the new year I would appreciate your referral.
Jamul Real Estate Report November 2012
Merry Christmas everyone! It is time for the monthly real estate market report for Jamul. Here are the numbers for November 2012.
There are currently only 20 active listings in Jamul. They range from $231,110 for a 3 bedroom, 1 bathroom, 888 square feet to $2,600,000 for 3 bedroom, 3 bathroom, 2430 square feet.
15 properties are pending, (currently in escrow).
15 properties sold (closed escrow) in November. Ranging fro $175,500 for 3 bedroom, 2 bathroom, 2000 square feet to $840,000 for 4 bedroom, 5 bathroom, 3610 square feet. The average time on the market was 74 days.
With inventory so low in Jamul, now is the time to sell. Why wait until after the holidays to list your home like everyone else does? By listing now you will have less competition. Call me today to get your home on the market.
I would like to wish you and your family a very Merry Christmas and a safe and Happy New Year. I look forward to hearing from you and assisting you with all your real estate needs in the coming year.
There are currently only 20 active listings in Jamul. They range from $231,110 for a 3 bedroom, 1 bathroom, 888 square feet to $2,600,000 for 3 bedroom, 3 bathroom, 2430 square feet.
15 properties are pending, (currently in escrow).
15 properties sold (closed escrow) in November. Ranging fro $175,500 for 3 bedroom, 2 bathroom, 2000 square feet to $840,000 for 4 bedroom, 5 bathroom, 3610 square feet. The average time on the market was 74 days.
With inventory so low in Jamul, now is the time to sell. Why wait until after the holidays to list your home like everyone else does? By listing now you will have less competition. Call me today to get your home on the market.
I would like to wish you and your family a very Merry Christmas and a safe and Happy New Year. I look forward to hearing from you and assisting you with all your real estate needs in the coming year.
Friday, November 2, 2012
El Cajon Real Estate Market Report - October 2012
Here is the monthly real estate report for all three zip codes in El Cajon, for the month of October. I have included the statistics for single family homes in El Cajon. If you would like information for condos or another area, please fee free to let me know.
92019
There are currently 51 Active listings for homes for sale in El Cajon zip code 92019. Ranging from $245,000 for 3 bedrooms, 2 bathrooms, 1540 sqft to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 sqft.
42 homes are pending, in escrow.
30 properties SOLD (closed escrow) in October, ranging from $215,000 for 3 bedrooms, 2 bathrooms, 1040 sqft to $820,000 for 5 bedrooms, 4 bathrooms, 4489 sqft. The average time on the market was 98 days.
92020
There are currently 43 Active listings for homes for sale in El Cajon zip code 92020. Ranging from $169,000 for 2 bedrooms, 1 bathroom, 648 sqft to $979,900 for 6 bedrooms, 3 bathrooms, 4038 sqft.
47 homes are pending, in escrow.
27 properties SOLD (closed escrow) in October, ranging from $191,000 for 2 bedrooms, 1 bathroom, 754 sqft to $750,000 for 6 bedrooms, 4 bathrooms, 3779 sqft. The average time on the market was 41 days.
92021
There are currently 53 Active listings for homes for sale in El Cajon zip code 92021. Ranging from $190,000 for 2 bedrooms, 1 bathroom, 1030 sqft to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 sqft.
60 homes are pending, in escrow.
36 properties SOLD (closed escrow) in October, ranging from $185,900 for 2 bedrooms, 3 bathrooms, 1696 sqft to $631,500 for 3 bedrooms, 3 bathrooms, 3176 sqft. The average time on the market was 61 days.
92019
There are currently 51 Active listings for homes for sale in El Cajon zip code 92019. Ranging from $245,000 for 3 bedrooms, 2 bathrooms, 1540 sqft to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 sqft.
42 homes are pending, in escrow.
30 properties SOLD (closed escrow) in October, ranging from $215,000 for 3 bedrooms, 2 bathrooms, 1040 sqft to $820,000 for 5 bedrooms, 4 bathrooms, 4489 sqft. The average time on the market was 98 days.
92020
There are currently 43 Active listings for homes for sale in El Cajon zip code 92020. Ranging from $169,000 for 2 bedrooms, 1 bathroom, 648 sqft to $979,900 for 6 bedrooms, 3 bathrooms, 4038 sqft.
47 homes are pending, in escrow.
27 properties SOLD (closed escrow) in October, ranging from $191,000 for 2 bedrooms, 1 bathroom, 754 sqft to $750,000 for 6 bedrooms, 4 bathrooms, 3779 sqft. The average time on the market was 41 days.
92021
There are currently 53 Active listings for homes for sale in El Cajon zip code 92021. Ranging from $190,000 for 2 bedrooms, 1 bathroom, 1030 sqft to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 sqft.
60 homes are pending, in escrow.
36 properties SOLD (closed escrow) in October, ranging from $185,900 for 2 bedrooms, 3 bathrooms, 1696 sqft to $631,500 for 3 bedrooms, 3 bathrooms, 3176 sqft. The average time on the market was 61 days.
Alpine Real Estate Market Report - October 2012
November is here and so is the monthly real estate report for Alpine for the month of October. I have included the statistics for single family homes in Alpine. If you would like information for condos or another area, please fee free to let me know.
There are currently 52 Active listings for homes for sale in Alpine. Ranging from $198,000 for 2 bedrooms, 1 bathroom, 1054 sqft to $1,795,000 for 2 bedrooms, 3 bathrooms, 2615 sqft.
27 homes are pending, in escrow.
16 properties SOLD (closed escrow) in October, ranging from $275,000 for 3 bedrooms, 2 bathrooms, 1926 sqft to $645,000 for 4 bedrooms, 3 bathrooms, 3581 sqft. The average time on the market was 95 days.
There are currently 52 Active listings for homes for sale in Alpine. Ranging from $198,000 for 2 bedrooms, 1 bathroom, 1054 sqft to $1,795,000 for 2 bedrooms, 3 bathrooms, 2615 sqft.
27 homes are pending, in escrow.
16 properties SOLD (closed escrow) in October, ranging from $275,000 for 3 bedrooms, 2 bathrooms, 1926 sqft to $645,000 for 4 bedrooms, 3 bathrooms, 3581 sqft. The average time on the market was 95 days.
Jamul Real Estate Report - October 2012
Talk about scarey! It is already November and time for the monthy real estate market report for Jamul for the month of October. I have included the statistics for single family homes in Jamul. If you would like information for another area, please fee free to let me know.
There are currently 20 Active listings for homes for sale in Jamul. Ranging from $264,000 for 3 bedrooms, 1 bathroom 1728 sqft to $2,600,000 for 3 bedrooms, 3 bathrooms, 2430 sqft.
22 homes are pending, in escrow.
5 properties SOLD (closed escrow) in October, ranging from $345,000 for 3 bedrooms, 3 bathrooms, 2645 sqft to $580,000 for 2 bedrooms, 4 bathrooms, 3900 sqft. The average time on the market was 214 days.
There are currently 20 Active listings for homes for sale in Jamul. Ranging from $264,000 for 3 bedrooms, 1 bathroom 1728 sqft to $2,600,000 for 3 bedrooms, 3 bathrooms, 2430 sqft.
22 homes are pending, in escrow.
5 properties SOLD (closed escrow) in October, ranging from $345,000 for 3 bedrooms, 3 bathrooms, 2645 sqft to $580,000 for 2 bedrooms, 4 bathrooms, 3900 sqft. The average time on the market was 214 days.
Monday, October 29, 2012
Open House
Come by and see me! I am holding an Open House this coming weekend. Saturday November 3rd from 12:00 to 3:00. The address is 10350 San Carlos Ct, Spring Valley CA 91978.
Thursday, October 18, 2012
Thursday, October 11, 2012
Foreclosure Protection Extended for Active Duty Service Members
President Obama recently signed into law the "Honoring America's Veterans and Caring for Camp Lejeune Families Act of 2012". This act extends foreclosure protection for active duty service members.
Under the current "Service Members Civil Relief Act" a service member is protected from foreclosure while on active duty and for 9 months after discharge or retirement. This act was scheduled to expire at the end of 2012.
With the signing of the new act, active duty members are protected from foreclosure while on active duty and for 9 months after the end of active duty. On February 2, 2013 the protection will be extended to 1 full year after active duty ends.
On January 1, 2015 the foreclosure protection for active duty members will revert back to 2008 levels which is protection for 90 days after active duty ends.
Under the current "Service Members Civil Relief Act" a service member is protected from foreclosure while on active duty and for 9 months after discharge or retirement. This act was scheduled to expire at the end of 2012.
With the signing of the new act, active duty members are protected from foreclosure while on active duty and for 9 months after the end of active duty. On February 2, 2013 the protection will be extended to 1 full year after active duty ends.
On January 1, 2015 the foreclosure protection for active duty members will revert back to 2008 levels which is protection for 90 days after active duty ends.
Monday, October 1, 2012
El Cajon Real Estate Market Report - September 2012
October is here so it is to see what happened in the El Cajon real estate market during the month of September. I have included information for single family homes in all three of the El Cajon zip codes. If you would like information regarding a different area or for condos, just let me know.
92019
There are currently 49 Active real estate listings in El Cajon zip code 92019. Ranging from $239,000 for 3 bedrooms, 2 bathrooms, 1014 square feet to 1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
54 properties are pending (currently in escrow).
28 properties sold (closed escrow) in September. Ranging from $190,000 for 3 bedrooms, 1 bathroom, 935 square feet to $702,600 for 6 bedrooms, 5 bathrooms, 6700 square feet. The average time on the market was 51 days.
92020
There are currently 54 Active listings in El Cajon zip code 92020. Ranging from $199,000 for 3 bedrooms, 1 bathroom, 1053 square feet to 975,000 for 3 bedrooms, 4 bathrooms, 3388 square feet.
39 properties are pending (currently in escrow).
31 properties sold (closed escrow) in September. Ranging from $165,000 for 3 bedrooms, 1 bathroom, 846 square feet to $700,000 for 4 bedrooms, 3 bathrooms, 2879 square feet. The average time on the market was 64 days.
92021
There are currently 68 Active listings in El Cajon zip code 92021. Ranging from $199,000 for 3 bedrooms, 2 bathrooms, 1454 square feet to 3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (currently in escrow).
40 properties sold (closed escrow) in September. Ranging from $153,000 for 3 bedrooms, 2 bathrooms, 1124 square feet to $620,000 for 4 bedrooms, 4 bathrooms, 3373 square feet. The average time on the market was 59 days.
92019
There are currently 49 Active real estate listings in El Cajon zip code 92019. Ranging from $239,000 for 3 bedrooms, 2 bathrooms, 1014 square feet to 1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
54 properties are pending (currently in escrow).
28 properties sold (closed escrow) in September. Ranging from $190,000 for 3 bedrooms, 1 bathroom, 935 square feet to $702,600 for 6 bedrooms, 5 bathrooms, 6700 square feet. The average time on the market was 51 days.
92020
There are currently 54 Active listings in El Cajon zip code 92020. Ranging from $199,000 for 3 bedrooms, 1 bathroom, 1053 square feet to 975,000 for 3 bedrooms, 4 bathrooms, 3388 square feet.
39 properties are pending (currently in escrow).
31 properties sold (closed escrow) in September. Ranging from $165,000 for 3 bedrooms, 1 bathroom, 846 square feet to $700,000 for 4 bedrooms, 3 bathrooms, 2879 square feet. The average time on the market was 64 days.
92021
There are currently 68 Active listings in El Cajon zip code 92021. Ranging from $199,000 for 3 bedrooms, 2 bathrooms, 1454 square feet to 3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (currently in escrow).
40 properties sold (closed escrow) in September. Ranging from $153,000 for 3 bedrooms, 2 bathrooms, 1124 square feet to $620,000 for 4 bedrooms, 4 bathrooms, 3373 square feet. The average time on the market was 59 days.
Alpine Real Estate Market Report - September 2012
Want to know how the real estate market looks in Alpine? Here are the stats for the Alpine real estate market for the month of September 2012. I have included information for single family detached homes. If you would like information regarding a different area or for condos, just let me know.
There are currently 59 Active real estate listings in Alpine. Ranging from $194,900 for 2 bedrooms, 1 bathroom, 732 square feet to 2,595,,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
31 properties are pending (currently in escrow).
19 properties sold (closed escrow) in September. Ranging from $190,000 for 3 bedrooms, 2 bathrooms, 1444 square feet to $610,000 for 3 bedrooms, 3 bathrooms, 3077 square feet. The average time on the market was 81 days.
There are currently 59 Active real estate listings in Alpine. Ranging from $194,900 for 2 bedrooms, 1 bathroom, 732 square feet to 2,595,,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
31 properties are pending (currently in escrow).
19 properties sold (closed escrow) in September. Ranging from $190,000 for 3 bedrooms, 2 bathrooms, 1444 square feet to $610,000 for 3 bedrooms, 3 bathrooms, 3077 square feet. The average time on the market was 81 days.
Jamul Real Estate Market - September 2012
Happy October everyone. Here is how the Jamul real estate market looked for the month of September 2012. I have included information for single family detached homes. If you would like information regarding a different area or for condos, just let me know.
There are currently 31 Active listings in Jamul. Ranging from $198,800 for 3 bedrooms, 2 bathrooms, 1964 square feet to 1,199,000 for 5 bedrooms, 5 bathrooms, 4434 square feet.
17 properties are pending (currently in escrow).
11 properties sold (closed escrow) in September. Ranging from $287,000 for 3 bedrooms, 2 bathrooms, 1288 square feet to $812,000 for 5 bedrooms, 3 bathrooms, 3758 square feet. The average time on the market was 111 days.
There are currently 31 Active listings in Jamul. Ranging from $198,800 for 3 bedrooms, 2 bathrooms, 1964 square feet to 1,199,000 for 5 bedrooms, 5 bathrooms, 4434 square feet.
17 properties are pending (currently in escrow).
11 properties sold (closed escrow) in September. Ranging from $287,000 for 3 bedrooms, 2 bathrooms, 1288 square feet to $812,000 for 5 bedrooms, 3 bathrooms, 3758 square feet. The average time on the market was 111 days.
Thursday, September 6, 2012
El Cajon Real Estate Market Report - August 2012
Here are the real estate statistics for all 3 zip codes in El Cajon for the month of August. I have included the numbers for the active, pending and sold single family homes.
92019
There are currently 62 active listings in zip code 92019. Ranging from $169,200 for 2 bedrooms, 1 bathroom, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
51 properties are pending (currently in escrow).
38 properties sold (closed escrow) in August. Ranging from $230,000 for 3 bedrooms, 2 bathrooms, 1283 square feet to $790,000 for 5 bedrooms, 4 bathrooms, 3400 square feet. The average time on the market was 53 days.
92020
There are currently 49 active listings in zip code 92020. Ranging from $192,000 for 2 bedrooms, 1 bathroom, 816 square feet to $999,900 for 6 bedrooms, 3 bathrooms, 4038 square feet.
50 properties are pending (currently in escrow).
33 properties sold (closed escrow) in August. Ranging from $182,000 for 2 bedrooms, 1 bathroom, 1020 square feet to $699,000 for 5 bedrooms, 3 bathrooms, 3579 square feet. The average time on the market was 36 days.
92021
There are currently 58 active listings in zip code 92021. Ranging from $204,900 for 2 bedrooms, 1 bathroom, 804 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
75 properties are pending (currently in escrow).
40 properties sold (closed escrow) in August. Ranging from $50,000 for 3 bedrooms, 2 bathrooms, 1509 square feet (on land lease) to $660,000 for 5 bedrooms, 3 bathrooms, 3727 square feet. The average time on the market was 77 days.
92019
There are currently 62 active listings in zip code 92019. Ranging from $169,200 for 2 bedrooms, 1 bathroom, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
51 properties are pending (currently in escrow).
38 properties sold (closed escrow) in August. Ranging from $230,000 for 3 bedrooms, 2 bathrooms, 1283 square feet to $790,000 for 5 bedrooms, 4 bathrooms, 3400 square feet. The average time on the market was 53 days.
92020
There are currently 49 active listings in zip code 92020. Ranging from $192,000 for 2 bedrooms, 1 bathroom, 816 square feet to $999,900 for 6 bedrooms, 3 bathrooms, 4038 square feet.
50 properties are pending (currently in escrow).
33 properties sold (closed escrow) in August. Ranging from $182,000 for 2 bedrooms, 1 bathroom, 1020 square feet to $699,000 for 5 bedrooms, 3 bathrooms, 3579 square feet. The average time on the market was 36 days.
92021
There are currently 58 active listings in zip code 92021. Ranging from $204,900 for 2 bedrooms, 1 bathroom, 804 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
75 properties are pending (currently in escrow).
40 properties sold (closed escrow) in August. Ranging from $50,000 for 3 bedrooms, 2 bathrooms, 1509 square feet (on land lease) to $660,000 for 5 bedrooms, 3 bathrooms, 3727 square feet. The average time on the market was 77 days.
Alpine Real Estate Market Report - August 2012
Here are the real estate statistics for Alpine for the month of August. I have included the numbers for the active, pending and sold single family homes.
There are currently 51 active listings on the market. Ranging from $194,900 for 2 bedrooms, 1 bathroom, 732 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
36 properties are pending (currently in escrow).
18 properties sold (closed escrow) in August. Ranging from $150,000 for 2 bedrooms, 1 bathroom, 740 square feet to $725,000 for 4 bedrooms, 4 bathrooms, 4744 square feet. The average time on the market was 87 days.
There are currently 51 active listings on the market. Ranging from $194,900 for 2 bedrooms, 1 bathroom, 732 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
36 properties are pending (currently in escrow).
18 properties sold (closed escrow) in August. Ranging from $150,000 for 2 bedrooms, 1 bathroom, 740 square feet to $725,000 for 4 bedrooms, 4 bathrooms, 4744 square feet. The average time on the market was 87 days.
Jamul Real Estate Report - August 2012
Here are the real estate statistics for Jamul for the month of August. I have included the numbers for the active, pending and sold single family homes.
There are currently 31 active listings on the market. Ranging from $219,900 for 3 bedrooms, 3 bathrooms, 1717 square feet to $1,199,000 for 5 bedrooms, 5 bathrooms, 4434 square feet.
23 properties are pending (currently in escrow).
8 properties sold (closed escrow) in August. Ranging from $195,000 for 2 bedrooms, 1 bathroom, 810 square feet to $650,000 for 4 bedrooms, 3 bathrooms, 2619 square feet. The average time on the market was 126 days.
There are currently 31 active listings on the market. Ranging from $219,900 for 3 bedrooms, 3 bathrooms, 1717 square feet to $1,199,000 for 5 bedrooms, 5 bathrooms, 4434 square feet.
23 properties are pending (currently in escrow).
8 properties sold (closed escrow) in August. Ranging from $195,000 for 2 bedrooms, 1 bathroom, 810 square feet to $650,000 for 4 bedrooms, 3 bathrooms, 2619 square feet. The average time on the market was 126 days.
Monday, August 27, 2012
September Appreciation Drawing
Here is the form to enter my September Appreciation Drawing. As a real estate agent I really value the referrals you send me. Complete this form and return to me ASAP so you will be entered to win!!
Wednesday, August 15, 2012
"Underwater" Officially Becomes Word
'Underwater' Officially Becomes Word
The term “underwater” has commonly been used in the housing industry to describe troubled mortgages. Now, Merriam-Webster announced it’s recognizing the word by adding it to the dictionary.
So what’s the official meaning of the mortgage-related term?
According to the 2012 update of the Merriam-Webster’s Collegiate Dictionary, “underwater” in the real estate sense is defined as “having, relating to, or being a mortgage loan for which more is owed than the property securing the loan is worth.”
Other commonly used real estate-related words added to the 2012 dictionary include: “man cave” (“a room or space -- as in a basement -- designed according to the taste of the man of the house to be used as his personal area for hobbies and leisure activities”) and technology words like “cloud computing” ("the practice of storing regularly used computer data on multiple servers that can be accessed through the Internet") and “mash-up” ("something created by combining elements from two or more sources").
Source: Merriam-Webster
So what’s the official meaning of the mortgage-related term?
According to the 2012 update of the Merriam-Webster’s Collegiate Dictionary, “underwater” in the real estate sense is defined as “having, relating to, or being a mortgage loan for which more is owed than the property securing the loan is worth.”
Other commonly used real estate-related words added to the 2012 dictionary include: “man cave” (“a room or space -- as in a basement -- designed according to the taste of the man of the house to be used as his personal area for hobbies and leisure activities”) and technology words like “cloud computing” ("the practice of storing regularly used computer data on multiple servers that can be accessed through the Internet") and “mash-up” ("something created by combining elements from two or more sources").
Source: Merriam-Webster
Tuesday, August 14, 2012
Great Investment
I came across a new listing in the condo complex that I live in and thought, WOW! The unit has 2 bedrooms, 2 full bathrooms and has 1371 square feet. It is located on the third floor, providing lots of privacy and views of the golf course and mountains. The best part is that it is listed for $175,000. Let's take a look at the numbers and see why I said WOW.
$175,000 list price
- $6150 (3.5 down payment. Yes the complex is FHA approved.)
__________
168,850 Loan amount
$808.00 (monthly payment and interest based on 3.9% interest rate)
$182.00 (estimated monthly property tax)
$ 51.00 (estimated monthly insurance)
$250.00 (current monthly HOA fee)
$127.00 (monthly mortgage insurance required with less than 20% down payment)
$1418.00 (total monthly payment)
Units like this one are currently renting for $1450-$1600. WOW! Own a home for less than rent or buy an investment property for instant cash flow! (FHA loans are for owner occupied purchases. Loans for investors would require higher down payment and change the numbers.) Please pass this one along to anyone you know who is looking for an investment opportunity or anyone who is tired of paying their landlord's mortgage. There are other great deals out there. Give me a call!
$175,000 list price
- $6150 (3.5 down payment. Yes the complex is FHA approved.)
__________
168,850 Loan amount
$808.00 (monthly payment and interest based on 3.9% interest rate)
$182.00 (estimated monthly property tax)
$ 51.00 (estimated monthly insurance)
$250.00 (current monthly HOA fee)
$127.00 (monthly mortgage insurance required with less than 20% down payment)
$1418.00 (total monthly payment)
Units like this one are currently renting for $1450-$1600. WOW! Own a home for less than rent or buy an investment property for instant cash flow! (FHA loans are for owner occupied purchases. Loans for investors would require higher down payment and change the numbers.) Please pass this one along to anyone you know who is looking for an investment opportunity or anyone who is tired of paying their landlord's mortgage. There are other great deals out there. Give me a call!
Wednesday, August 8, 2012
El Cajon Real Estate Market July 2012
Here are the July real estate statistics for the 3 zip codes in El Cajon. I have included the numbers for active, pending, and sold single family detached homes.
92019
There are currently 62 active listings in El Cajon (92019). Ranging from $188,000 for 2 bedrooms, 1 bathrooms, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
56 properties are pending (currently in escrow).
24 properties sold (closed escrow) in July. Ranging from $200,000 for 3 bedrooms, 2 bathrooms, 1400 square feet to $625,000 for 5 bedrooms, 5 bathrooms, 3835 square feet. The average time on the market for the properties that sold was 70 days.
92020
There are currently 48 active listings in El Cajon (92020). Ranging from $159,000 for 2 bedrooms, 1 bathrooms, 754 square feet to $1,000,000 for 6 bedrooms, 3 bathrooms, 4038 square feet.
52 properties are pending (currently in escrow).
34 properties sold (closed escrow) in July. Ranging from $165,000 for 2 bedrooms, 1 bathrooms, 840 square feet to $620,000 for 3 bedrooms, 3 bathrooms, 2508 square feet. The average time on the market for the properties that sold was 46 days.
92021
There are currently 59 active listings in El Cajon (92021). Ranging from $214,500 for 3 bedrooms, 2 bathrooms, 1384 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
71 properties are pending (currently in escrow).
43 properties sold (closed escrow) in July. Ranging from $119,900 for 1 bedrooms, 1 bathrooms, 546 square feet to $530,000 for 4 bedrooms, 3 bathrooms, 3274 square feet. The average time on the market for the properties that sold was 73 days.
92019
There are currently 62 active listings in El Cajon (92019). Ranging from $188,000 for 2 bedrooms, 1 bathrooms, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
56 properties are pending (currently in escrow).
24 properties sold (closed escrow) in July. Ranging from $200,000 for 3 bedrooms, 2 bathrooms, 1400 square feet to $625,000 for 5 bedrooms, 5 bathrooms, 3835 square feet. The average time on the market for the properties that sold was 70 days.
92020
There are currently 48 active listings in El Cajon (92020). Ranging from $159,000 for 2 bedrooms, 1 bathrooms, 754 square feet to $1,000,000 for 6 bedrooms, 3 bathrooms, 4038 square feet.
52 properties are pending (currently in escrow).
34 properties sold (closed escrow) in July. Ranging from $165,000 for 2 bedrooms, 1 bathrooms, 840 square feet to $620,000 for 3 bedrooms, 3 bathrooms, 2508 square feet. The average time on the market for the properties that sold was 46 days.
92021
There are currently 59 active listings in El Cajon (92021). Ranging from $214,500 for 3 bedrooms, 2 bathrooms, 1384 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
71 properties are pending (currently in escrow).
43 properties sold (closed escrow) in July. Ranging from $119,900 for 1 bedrooms, 1 bathrooms, 546 square feet to $530,000 for 4 bedrooms, 3 bathrooms, 3274 square feet. The average time on the market for the properties that sold was 73 days.
Alpine Real Estate Market Report July 2012
Here are the July real estate statistics for Alpine. I have included the numbers for active, pending, and sold single family detached homes.
There are currently 55 active listings in Alpine. Ranging from $294,900 for 4 bedrooms, 2 bathrooms, 2300 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
38 properties are pending (currently in escrow).
14 properties sold (closed escrow) in July. Ranging from $230,000 for 3 bedrooms, 2 bathrooms, 1450 square feet to $695,000 for 4 bedrooms, 4 bathrooms, 3818 square feet. The average tme on the market for the properties that sold was 68 days.
There are currently 55 active listings in Alpine. Ranging from $294,900 for 4 bedrooms, 2 bathrooms, 2300 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
38 properties are pending (currently in escrow).
14 properties sold (closed escrow) in July. Ranging from $230,000 for 3 bedrooms, 2 bathrooms, 1450 square feet to $695,000 for 4 bedrooms, 4 bathrooms, 3818 square feet. The average tme on the market for the properties that sold was 68 days.
Jamul Real Estate Report July 2012
Here are the July real estate statistics for Jamul. I have included the numbers for active, pending, and sold single family detached homes.
There are currently 33 active listings in Jamul. Ranging from $175,000 for 2 bedrooms, 2 bathrooms, 1144 square feet to $1,250,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
18 properties are pending (currently in escrow).
7 properties sold (closed escrow) in July. Ranging from $152,000 for 3 bedrooms, 2 bathrooms, 1975 square feet to $655,000 for 4 bedrooms, 4 bathrooms, 4193 square feet. The average tme on the market for the properties that sold was 58 days.
There are currently 33 active listings in Jamul. Ranging from $175,000 for 2 bedrooms, 2 bathrooms, 1144 square feet to $1,250,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
18 properties are pending (currently in escrow).
7 properties sold (closed escrow) in July. Ranging from $152,000 for 3 bedrooms, 2 bathrooms, 1975 square feet to $655,000 for 4 bedrooms, 4 bathrooms, 4193 square feet. The average tme on the market for the properties that sold was 58 days.
Friday, July 13, 2012
Realtor's Thank You Drawing - August 2012
I have the best clients in San Diego County! I am dependent upon referrals from people like you to keep my real estate business growing. I appreciate you and would like to show my appreciation with a gas or Starbucks card. Please return this flyer to me for your chance to win.
Good Luck and Thank You!!!
Good Luck and Thank You!!!
 |
Tuesday, July 3, 2012
San Diego 2012 Fireworks
Here is some information on the 4th of July Fireworks. Please feel free to add to the list!
Big Bay Boom - July 4th 9:00 PM multiple locations in San Diego Bay and Imperial Beach Pier Google map Pick your favorite spot near Seaport Village, Coronado Ferry Landing, Spanish Landing, Embarcadero Marina Parks North and South, Cesar Chavez Park, Coronado Tidelands Park, Imperial Beach Pier, Shelter Island and Harbor Island. This year, fireworks will also be discharged at the Imperial Beach Pier. Check out the link below for parking and shuttle information. Big Bay Fireworks
Seaworld San Diego - July 4th around 9:30 pm. Park opens at 9 AM and closes at 11 PM for the weekend. 500 Sea World Drive, San Diego Cal. Phone number: (619) 222-6363. View for free from Mission Bay Park, or spend the day at Sea World and enjoy the shows and rides before the fireworks.
El Cajon - Kennedy Park, 1675 E Madison Ave., El Cajon Google map, fireworks at 9:00 PM tentative. For more information see El Cajon 4th July Celebration
Santee - Town Center Community Park East, 550 Park Center Drive, Santee, California 92071 Google map fireworks at 9:00 PM For more details on this event Santee July 4th Events
Camp Pendleton Beach Bash - July 4th 9:00 PM, Del Mar Beach at Camp Pendleton Google map
Annual beach bash celebration and fireworks for military Marine Corps families. For more information see Camp Pendleton Beach Bash
Del Mar Fairgrounds - July 4th 9:30 PM Google map This is the last day of the San Diego county fair. For information visit San Diego County Fair.
La Jolla Bay Google map, July 4th 2012 9:00 PM (tentative)
La Jolla Shores, Kellogg Park, Ellen Browning Scripps Park and La Jolla Cove, along the La Jolla Coast Walk. For event details see La Jolla San Diego Fireworks 2012 Fourth of July
Coronado - July 4th at 9:00 PM, over Glorietta Bay Google map
For more information see Coronado 4th of July Celebration
Mira Mesa Community Park - Google map July 4th 2012 9:00 PM For event details see Mira Mesa Fourth of July
Mission Bay Yacht Club - 1251 Carmel Place - July 4 2012 parade and fireworks at 9:00 PM Tentative. Enjoy the boat parade and fireworks show near the Mission Bay Yacht Club. For more information see Mission Bay Yacht Club
Ocean Beach Pier Google map, July 4th 2012 9:00 PM
National City- Kimball Park Google map July 4th fireworks at 9:00 PM
Annual carnival and fireworks show at Kimball Park. For more information see National City Fireworks
Poway High School Google map, July 4 2012 fireworks at 9:00. For more information see Poway 4th of July Celebration and Poway 4th of July Fireworks
Ramona - Olive Pierce Middle School, 1521 Hanson Lane, Ramona Cal 92065 Google map, fireworks at 9:00 PM For more information see Ramona 4th of July
Big Bay Boom - July 4th 9:00 PM multiple locations in San Diego Bay and Imperial Beach Pier Google map Pick your favorite spot near Seaport Village, Coronado Ferry Landing, Spanish Landing, Embarcadero Marina Parks North and South, Cesar Chavez Park, Coronado Tidelands Park, Imperial Beach Pier, Shelter Island and Harbor Island. This year, fireworks will also be discharged at the Imperial Beach Pier. Check out the link below for parking and shuttle information. Big Bay Fireworks
Seaworld San Diego - July 4th around 9:30 pm. Park opens at 9 AM and closes at 11 PM for the weekend. 500 Sea World Drive, San Diego Cal. Phone number: (619) 222-6363. View for free from Mission Bay Park, or spend the day at Sea World and enjoy the shows and rides before the fireworks.
El Cajon - Kennedy Park, 1675 E Madison Ave., El Cajon Google map, fireworks at 9:00 PM tentative. For more information see El Cajon 4th July Celebration
Santee - Town Center Community Park East, 550 Park Center Drive, Santee, California 92071 Google map fireworks at 9:00 PM For more details on this event Santee July 4th Events
Camp Pendleton Beach Bash - July 4th 9:00 PM, Del Mar Beach at Camp Pendleton Google map
Annual beach bash celebration and fireworks for military Marine Corps families. For more information see Camp Pendleton Beach Bash
Del Mar Fairgrounds - July 4th 9:30 PM Google map This is the last day of the San Diego county fair. For information visit San Diego County Fair.
La Jolla Bay Google map, July 4th 2012 9:00 PM (tentative)
La Jolla Shores, Kellogg Park, Ellen Browning Scripps Park and La Jolla Cove, along the La Jolla Coast Walk. For event details see La Jolla San Diego Fireworks 2012 Fourth of July
Coronado - July 4th at 9:00 PM, over Glorietta Bay Google map
For more information see Coronado 4th of July Celebration
Mira Mesa Community Park - Google map July 4th 2012 9:00 PM For event details see Mira Mesa Fourth of July
Mission Bay Yacht Club - 1251 Carmel Place - July 4 2012 parade and fireworks at 9:00 PM Tentative. Enjoy the boat parade and fireworks show near the Mission Bay Yacht Club. For more information see Mission Bay Yacht Club
Ocean Beach Pier Google map, July 4th 2012 9:00 PM
National City- Kimball Park Google map July 4th fireworks at 9:00 PM
Annual carnival and fireworks show at Kimball Park. For more information see National City Fireworks
Poway High School Google map, July 4 2012 fireworks at 9:00. For more information see Poway 4th of July Celebration and Poway 4th of July Fireworks
Ramona - Olive Pierce Middle School, 1521 Hanson Lane, Ramona Cal 92065 Google map, fireworks at 9:00 PM For more information see Ramona 4th of July
Monday, July 2, 2012
El Cajon Real Estate Market Report - June 2012
It is time for the monthly real estate market report for El Cajon. Here you will find the number of active, pending and homes that sold in June 2012. I have included the statistics for single family detached homes in all 3 of the El Cajon zip codes. As you can see, inventory remains low!
92019
There are currently 56 Active real estate listings in El Cajon zip code 92019. Ranging from $240,000 for 2 bedroom, 2 bathroom, 987 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
52 properties are pending, (in escrow).
27 properties sold (closed escrow) in June, ranging from $135,000 for 1 bedrooms, 1 bathrooms, 724 square feet to $650,000 for 4 bedrooms, 3 bathrooms, 2514 square feet. The average time on the market was 71 days.
92020
There are currently 49 Active real estate listings in El Cajon zip code 92020. Ranging from $205,000 for 2 bedroom, 1 bathroom, 1020 square feet to $1,100,000 for 6 bedrooms, 3 bathrooms, 4038 square feet.
59 properties are pending, (in escrow).
27 properties sold (closed escrow) in June, ranging from $165,000 for 1 bedrooms, 1 bathrooms, 754 square feet to $650,000 for 5 bedrooms, 4 bathrooms, 4213 square feet. The average time on the market was 94 days.
92021
There are currently 56 Active real estate listings in El Cajon zip code 92021. Ranging from $119,900 for 2 bedroom, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
74 properties are pending, (in escrow).
35 properties sold (closed escrow) in June, ranging from $152,000 for 2 bedrooms, 2 bathrooms, 900 square feet to $648,000 for 4 bedrooms, 4 bathrooms, 4073 square feet. The average time on the market was 82 days.
92019
There are currently 56 Active real estate listings in El Cajon zip code 92019. Ranging from $240,000 for 2 bedroom, 2 bathroom, 987 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
52 properties are pending, (in escrow).
27 properties sold (closed escrow) in June, ranging from $135,000 for 1 bedrooms, 1 bathrooms, 724 square feet to $650,000 for 4 bedrooms, 3 bathrooms, 2514 square feet. The average time on the market was 71 days.
92020
There are currently 49 Active real estate listings in El Cajon zip code 92020. Ranging from $205,000 for 2 bedroom, 1 bathroom, 1020 square feet to $1,100,000 for 6 bedrooms, 3 bathrooms, 4038 square feet.
59 properties are pending, (in escrow).
27 properties sold (closed escrow) in June, ranging from $165,000 for 1 bedrooms, 1 bathrooms, 754 square feet to $650,000 for 5 bedrooms, 4 bathrooms, 4213 square feet. The average time on the market was 94 days.
92021
There are currently 56 Active real estate listings in El Cajon zip code 92021. Ranging from $119,900 for 2 bedroom, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
74 properties are pending, (in escrow).
35 properties sold (closed escrow) in June, ranging from $152,000 for 2 bedrooms, 2 bathrooms, 900 square feet to $648,000 for 4 bedrooms, 4 bathrooms, 4073 square feet. The average time on the market was 82 days.
Alpine Real Estate Market Report - June 2012
It is time for the monthly real estate market report for Alpine. Here you will find the number of active, pending and homes that sold in June 2012. As you can see, inventory remains low!
There are currently 60 Active real estate listings in Alpine. Ranging from $175,000 for 3 bedroom, 1 bathroom, 1236 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
33 properties are pending, (in escrow).
13 properties sold (closed escrow) in June, ranging from $235,000 for 2 bedrooms, 2 bathrooms, 1114 square feet to $830,000 for 4 bedrooms, 5 bathrooms, 5475 square feet. The average time on the market was 64 days.
There are currently 60 Active real estate listings in Alpine. Ranging from $175,000 for 3 bedroom, 1 bathroom, 1236 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
33 properties are pending, (in escrow).
13 properties sold (closed escrow) in June, ranging from $235,000 for 2 bedrooms, 2 bathrooms, 1114 square feet to $830,000 for 4 bedrooms, 5 bathrooms, 5475 square feet. The average time on the market was 64 days.
Jamul Real Estate Market Report - June 2012
It is time for the monthly real estate market report for Jamul. Here you will find the number of active, pending and homes that sold in June 2012. As you can see, inventory remains low!
There are currently 31 Active real estate listings in Jamul. Ranging from $250,000 for 3 bedroom, 1 bathroom, 1098 square feet to $1,299,000 for 6 bedrooms, 5 bathrooms, 5712 square feet.
16 properties are pending, (in escrow).
3 properties sold (closed escrow) in June, ranging from $169,000 for 4 bedrooms, 3 bathrooms, 1795 square feet to $499,000 for 4 bedrooms, 3 bathrooms, 2668 square feet. The average time on the market was 136 days.
There are currently 31 Active real estate listings in Jamul. Ranging from $250,000 for 3 bedroom, 1 bathroom, 1098 square feet to $1,299,000 for 6 bedrooms, 5 bathrooms, 5712 square feet.
16 properties are pending, (in escrow).
3 properties sold (closed escrow) in June, ranging from $169,000 for 4 bedrooms, 3 bathrooms, 1795 square feet to $499,000 for 4 bedrooms, 3 bathrooms, 2668 square feet. The average time on the market was 136 days.
Thursday, June 28, 2012
Want a $50 Gas Card?
I really appreciate the home buyers and sellers I have worked with and all the friends who send me referrals. So to show my appreciation to all my friends and clients both old and new, I am holding a drawing for a $50 gas card and $25 Starbucks gift card. All you have to do is complete and send the flyer pictured below back to me. The drawing will be held on July 10th, so do not delay in getting this back to me. Again, thank you all for supporting me and helping me grow my business!
Thursday, June 21, 2012
Is This The Bottom of The Real Estate Market?
The biggest question I am getting from both home buyers and sellers right now is this: "Is this the bottom of the real estate market dip?" Buyers are asking because they do not want to buy a house only to have it depreciate in the short term. Sellers are asking because if this is the "bottom" and house prices are going to go up tomorrow, they want to wait to sell. What both buyers and sellers need to understand is that there are many factors that they should be considering and that the "bottom" is not an event, but rather a process. The timeline of this process will vary from state to state, city to city, and neighborhood to neighborhood. Both buyers and sellers need to consider all of the factors and their personal circumstances to make the decisions that are right for them.
The real estate market recovery is tied to many complex economical factors. It comes down to consumer confidence. If people are confident that the economy is turning around, it spurs the recovery. We all know that the unemployment rate is tied to the real estate market. If people are fearful that they are going to lose their job or have already lost their job they are not going to be thinking about buying a home. However as the unemployment rate drops more buyers will qualify to purchase a home and have the confidence to do so.
Along this same line is that when people start to feel confident in the economy they start to see real estate as a good investment. Buyers tend to look at the short term, rather than the long term. Most buyers do not want to buy a house only to have its value drop in the short term. But they need to look at the long term; what the house will be worth when they are ready to sell. As they gain confidence in the economy they start to see even the short term benefits of buying a home.
So sellers should wait to sell? No, not necessarily it will depend on why you are considering selling. If you are buying another home, why wait for prices and interest rates to go up? The longer you stay in the current house, the more you are investing by paying on the current mortgage, put that money toward the new mortgage and property. Why wait for everyone else to figure out that now is a good time to sell? You might have more competition if you wait.
The recovery is a process not an event. We are not going to wake up one day and have everyone feel confident in the economy. It is a process. We are seeing the unemployment rates drop. Interest rates are unbelievably low. The shadow inventory that had us worried about a double dip recession is shrinking. Builders have started building. We are getting multiple offers on listed properties. These are all sign that the process has begun. More and more people are realizing that the doom and gloom we have been living under for the past few years is lifting. Yes we are in the process of recovering and yes the worst is over.
The real estate market recovery is tied to many complex economical factors. It comes down to consumer confidence. If people are confident that the economy is turning around, it spurs the recovery. We all know that the unemployment rate is tied to the real estate market. If people are fearful that they are going to lose their job or have already lost their job they are not going to be thinking about buying a home. However as the unemployment rate drops more buyers will qualify to purchase a home and have the confidence to do so.
Along this same line is that when people start to feel confident in the economy they start to see real estate as a good investment. Buyers tend to look at the short term, rather than the long term. Most buyers do not want to buy a house only to have its value drop in the short term. But they need to look at the long term; what the house will be worth when they are ready to sell. As they gain confidence in the economy they start to see even the short term benefits of buying a home.
So sellers should wait to sell? No, not necessarily it will depend on why you are considering selling. If you are buying another home, why wait for prices and interest rates to go up? The longer you stay in the current house, the more you are investing by paying on the current mortgage, put that money toward the new mortgage and property. Why wait for everyone else to figure out that now is a good time to sell? You might have more competition if you wait.
The recovery is a process not an event. We are not going to wake up one day and have everyone feel confident in the economy. It is a process. We are seeing the unemployment rates drop. Interest rates are unbelievably low. The shadow inventory that had us worried about a double dip recession is shrinking. Builders have started building. We are getting multiple offers on listed properties. These are all sign that the process has begun. More and more people are realizing that the doom and gloom we have been living under for the past few years is lifting. Yes we are in the process of recovering and yes the worst is over.
Wednesday, June 6, 2012
A Hoarder House?
Yesterday I showed a house in El Cajon to some clients and while it wouldn't be featured on the TV show "Hoarders" it was close! There was stuff everywhere. Every horizontal surface was covered with stacks of items. Only the center of the floor was visible. The furniture was large and I do not think I have seen so many bookshelves in one place outside of the library! Closet doors would not close and I was seriously afraid to open any cabinet for fear of what would tumble out at us. Every room was like this. As you can imagine with all this stuff the place did not smell airy. It smelled of dust, dirty clothes and random old food. This my friends is not the way to get your home sold!
I have heard the rants and justifications from sellers before. "Well, the buyer will just need to look past it". Um how? You can't see any walls, floor or counters! "My home has the lived in feel, I don't like a prim and stuffy feel." The air is so stuffy I can't breathe! "I don't have time to organize." How are you going to move it all when we close escrow? "The carpet is new and will clean up nice". It is thread bare along the only accessible path. "We never use the fireplace so the bookcase in front is better" How will a buyer know the house has a fireplace?
If you are trying to sell your home you have to be realistic! The buyers who come to view a home want to be able to visualize themselves in the space. They cannot do this if there is hardly space for them in the room. The existing items are a distraction and become overwhelming to the buyers. When they see a messy and cluttered home you are NOT creating excitement or something that makes the buyers feel this is a move up to a better life. On the contrary it is depressing and who wants to live in a place that makes you feel like that?
When a buyer sees a dirty and cluttered space it tells them that the seller doesn't take care of their things and doesn't care. The buyer often thinks that this applies to the house as well. If someone can't sort through the years worth of mail or clean the dishes why would they assume that leaks are fixed quickly and regular maintenance done? By having a cluttered, messy home you are putting negative thoughts into the buyer's mind about the property. This is not a good thing.
One of the big things buyers want is space, usually the more the better. By having a cluttered mess the buyers see that the place is too small. Having closets over stuffed they assume there is not enough storage in the home. It is imperative that you get rid of items to open up the home and give a positive impression rather than a negative one. Get rid of the items in front of the windows, open the drapes, let the light shine in and allow the buyers to see that the house has windows and light!
I know it can be hard and overwhelming to pack up a home that you have lived in for a long time. I know, I just did it a couple of years ago. But if you are selling your home you are going to have to move so why not get a jump on the process and get better offers to negotiate? Not to mention if you start clearing out the junk you will have less to move in the end and if you are paying a mover the less you move the less it will cost you! You do not have to do it all in one day, start with one room or even one closet. Decide what you are taking with you, what you will donate and what is trash. Yes, I said it trash! Another hint would be to start using your reserves and not buying more. Really, do you want to move 49 cans of green beans and 14 cases of toilet paper? No more Costco runs!
Start before you put the home on the market and have a neat, organized home for the buyers to view. Continue the process as the home sells. You will be helping your home sell quicker and for more money and when it finally does sell your moving day will be much smoother. Good luck and happy sorting!
I have heard the rants and justifications from sellers before. "Well, the buyer will just need to look past it". Um how? You can't see any walls, floor or counters! "My home has the lived in feel, I don't like a prim and stuffy feel." The air is so stuffy I can't breathe! "I don't have time to organize." How are you going to move it all when we close escrow? "The carpet is new and will clean up nice". It is thread bare along the only accessible path. "We never use the fireplace so the bookcase in front is better" How will a buyer know the house has a fireplace?
If you are trying to sell your home you have to be realistic! The buyers who come to view a home want to be able to visualize themselves in the space. They cannot do this if there is hardly space for them in the room. The existing items are a distraction and become overwhelming to the buyers. When they see a messy and cluttered home you are NOT creating excitement or something that makes the buyers feel this is a move up to a better life. On the contrary it is depressing and who wants to live in a place that makes you feel like that?
When a buyer sees a dirty and cluttered space it tells them that the seller doesn't take care of their things and doesn't care. The buyer often thinks that this applies to the house as well. If someone can't sort through the years worth of mail or clean the dishes why would they assume that leaks are fixed quickly and regular maintenance done? By having a cluttered, messy home you are putting negative thoughts into the buyer's mind about the property. This is not a good thing.
One of the big things buyers want is space, usually the more the better. By having a cluttered mess the buyers see that the place is too small. Having closets over stuffed they assume there is not enough storage in the home. It is imperative that you get rid of items to open up the home and give a positive impression rather than a negative one. Get rid of the items in front of the windows, open the drapes, let the light shine in and allow the buyers to see that the house has windows and light!
I know it can be hard and overwhelming to pack up a home that you have lived in for a long time. I know, I just did it a couple of years ago. But if you are selling your home you are going to have to move so why not get a jump on the process and get better offers to negotiate? Not to mention if you start clearing out the junk you will have less to move in the end and if you are paying a mover the less you move the less it will cost you! You do not have to do it all in one day, start with one room or even one closet. Decide what you are taking with you, what you will donate and what is trash. Yes, I said it trash! Another hint would be to start using your reserves and not buying more. Really, do you want to move 49 cans of green beans and 14 cases of toilet paper? No more Costco runs!
Start before you put the home on the market and have a neat, organized home for the buyers to view. Continue the process as the home sells. You will be helping your home sell quicker and for more money and when it finally does sell your moving day will be much smoother. Good luck and happy sorting!
Friday, June 1, 2012
El Cajon Real Estate Market Report - May 2012
Here is the May Real Estate Market Report for El Cajon. I have included the numbers for single family detached homes. for all 3 zip codes in El Cajon. If you would like the information for a different area or for condos, please feel free to give me a call.
92019
There are currently only 65 active listings in El Cajon (92019)! Ranging from: $255,000 for 2 bedrooms, 2 bathroom, 987 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
44 properties are pending (currently in escrow)!
35 properties sold (closed escrow) in May. Ranging from: $175,000 for 3 bedrooms, 2 bathroom, 1180 square feet to $850,000 for 5 bedrooms, 4 bathrooms, 3567 square feet. The average time on the market was 61 days.
92020
There are currently only 65 active listings in El Cajon (92020)! Ranging from: $189,900 for 2 bedrooms, 1 bathroom, 950 square feet to $975,000 for 3 bedrooms, 4 bathrooms, 3388 square feet.
40 properties are pending (currently in escrow).
31 properties sold (closed escrow) in May. Ranging from: $172,000 for 2 bedrooms, 1 bathroom, 1108 square feet to $760,000 for 5 bedrooms, 3 bathrooms, 4357 square feet. The average time on the market was 66 days.
92021
There are currently only 60 active listings in El Cajon (92021)! Ranging from: $119,900 for 2 bedrooms, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
64 properties are pending (currently in escrow)!
31 properties sold (closed escrow) in May. Ranging from: $155,000 for 3 bedrooms, 2 bathroom, 1268 square feet to $515,000 for 5 bedrooms, 5 bathrooms, 2819 square feet. The average time on the market was 76 days.
92019
There are currently only 65 active listings in El Cajon (92019)! Ranging from: $255,000 for 2 bedrooms, 2 bathroom, 987 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
44 properties are pending (currently in escrow)!
35 properties sold (closed escrow) in May. Ranging from: $175,000 for 3 bedrooms, 2 bathroom, 1180 square feet to $850,000 for 5 bedrooms, 4 bathrooms, 3567 square feet. The average time on the market was 61 days.
92020
There are currently only 65 active listings in El Cajon (92020)! Ranging from: $189,900 for 2 bedrooms, 1 bathroom, 950 square feet to $975,000 for 3 bedrooms, 4 bathrooms, 3388 square feet.
40 properties are pending (currently in escrow).
31 properties sold (closed escrow) in May. Ranging from: $172,000 for 2 bedrooms, 1 bathroom, 1108 square feet to $760,000 for 5 bedrooms, 3 bathrooms, 4357 square feet. The average time on the market was 66 days.
92021
There are currently only 60 active listings in El Cajon (92021)! Ranging from: $119,900 for 2 bedrooms, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
64 properties are pending (currently in escrow)!
31 properties sold (closed escrow) in May. Ranging from: $155,000 for 3 bedrooms, 2 bathroom, 1268 square feet to $515,000 for 5 bedrooms, 5 bathrooms, 2819 square feet. The average time on the market was 76 days.
Jamul Real Estate Market Report - May 2012
Here is the May Real Estate Market Report for Jamul. I have included the numbers for single family detached homes. If you would like the information for a different zip code or for condos, please feel free to give me a call.
There are currently only 31 active listings in Jamul! Ranging from: $198,000 for 3 bedrooms, 1 bathroom, 1728 square feet to $1,400,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
12 properties are pending (currently in escrow).
9 properties sold (closed escrow) in May. Ranging from: $170,000 for 0 bedrooms, 1 bathroom, 588 square feet to $840,000 for 3 bedrooms, 3 bathrooms, 3028 square feet. The average time on the market was 162 days.
There are currently only 31 active listings in Jamul! Ranging from: $198,000 for 3 bedrooms, 1 bathroom, 1728 square feet to $1,400,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
12 properties are pending (currently in escrow).
9 properties sold (closed escrow) in May. Ranging from: $170,000 for 0 bedrooms, 1 bathroom, 588 square feet to $840,000 for 3 bedrooms, 3 bathrooms, 3028 square feet. The average time on the market was 162 days.
Alpine Real Estate Market Report May 2012
Here is what has happened in the Alpine real estate market for the month of May 2012. I have included statistics for single family detached homes.
There are currently 69 active listings in Alpine: ranging from $195,900 for 2 bedrooms, 1 bathroom, 732 square feet to 2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
29 properties are pending (currently in escrow).
13 properties sold in May: ranging fro, $52,500 for 2 bedroom, 1 bathroom, 768 square feet to $725,000 for 4 bedrooms, 4 bathrooms 3851 square feet. The average time on the market was 98 days.
There are currently 69 active listings in Alpine: ranging from $195,900 for 2 bedrooms, 1 bathroom, 732 square feet to 2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
29 properties are pending (currently in escrow).
13 properties sold in May: ranging fro, $52,500 for 2 bedroom, 1 bathroom, 768 square feet to $725,000 for 4 bedrooms, 4 bathrooms 3851 square feet. The average time on the market was 98 days.
Tuesday, May 29, 2012
Top 5 Questions for Your Home Inspector Plus one Bonus
I work a lot with buyers and I always recommend that they have a "Physical Inspection" of the property done. Buying a home is probably the biggest investment of your life and you need to know what you are buying. I know it is scary because you have been looking at tons of homes and finally got your offer accepted on your dream home. But you need to know as much about your dream home as possible to truly know if this is your dream home or a nightmare waiting to happen.
The first step is finding a reliable home inspector. You want one who is going to be affordable and thorough. You want a knowledgeable professional who will give you the honest truth. Here are some questions you should be asking when selecting a home inspector.
1. What is your experience and/or training?
2. Can you provide a sample report? You want to see how detailed the report is and what to expect.
3. What is covered and what is not. Some inspectors will not inspect pools, roofs, or appliances. You need to know this upfront.
4. What is the reinspection policy. If there are errors or omissions that come to light later will they come out an reinspect? If repairs are made will they verify the workmanship?
5. Will they provide references?
6. Do they have insurance?
You should try and be at the property when the inspection is done so that you can see exactly what the inspector is noting. Take some time to review the report. Make an informed decision to continue with the escrow and purchase the property or cancel and continue your home search. It can be a difficult decision but in the end you need to be confident you are purchasing a home that is right for you and that you know what you are purchasing.
The first step is finding a reliable home inspector. You want one who is going to be affordable and thorough. You want a knowledgeable professional who will give you the honest truth. Here are some questions you should be asking when selecting a home inspector.
1. What is your experience and/or training?
2. Can you provide a sample report? You want to see how detailed the report is and what to expect.
3. What is covered and what is not. Some inspectors will not inspect pools, roofs, or appliances. You need to know this upfront.
4. What is the reinspection policy. If there are errors or omissions that come to light later will they come out an reinspect? If repairs are made will they verify the workmanship?
5. Will they provide references?
6. Do they have insurance?
You should try and be at the property when the inspection is done so that you can see exactly what the inspector is noting. Take some time to review the report. Make an informed decision to continue with the escrow and purchase the property or cancel and continue your home search. It can be a difficult decision but in the end you need to be confident you are purchasing a home that is right for you and that you know what you are purchasing.
Wednesday, May 23, 2012
Where Are All the For Sale Houses?
The real estate recovery has been in the news a lot lately. Many of you may be aware that the San Diego real estate market is drastically different than it was just a year ago. Previously the issue was that there were so many houses on the market and the prices were still declining. This caused many would be home buyers to sit on the fence and wait for the market to stabilize before making their purchase. Well what a difference a year makes.
Last month there were aproximately 7700 houses and condos on the market in all of San Diego county. Today there is just 6740. The combination of historically low interest rates, pent up buyer demand and investors making their move have all contributed to the decline in inventory. Right now there is actually a shortage of available properties. At the peak of the recession there was a 13 month supply of inventory, today just over a 1 month.
So what does that mean to you? Well, if you are buyer you need to be prepared for this and understand that you are going to need to be patient. New listings are not flooding the market. You are not going to have 20-30 houses to look at that meet your needs, in fact if you are in the under $250,000 range you are going to be lucky to have 5 (depending on area, size, etc). You are going to need to act quickly and not wait for the weekend to view a property and submit an offer. When a quality listing hits the market you need to be ready, meaning be prequalified for your loan and ready to make a decision. You may also have to compromise on what you are looking for or raise your price point. The days of "low balling" an offer are over. You need to understand what homes are selling for in the area and submit a competitive, clean offer at market value.
If you are a seller you should be taking advantage of the low inventory. If you are considering selling you need to get your home on the market. Why wait until the banks release more REO's or the buyers purchase a different home? You will need to be smart and understand that you still have to price the home to sell. An overpriced home will not sell no matter what the inventory or market is like. A home that is priced above market value is not going to sell. It will not appraise so the buyer will not be able to get the loan and an investor will be a savvy buyer that thinks only of the bottom line. You will also need to understand that while most areas of the county have seen a stabilization of prices, this does not mean that prices are significantly rising. The market will bounce around down here at the bottom and slowly improve. There is not going to be a sharp increase in prices which will bring you back up to where it was at the height within the next year.
If are considering buying or selling, give me a call. I will assist you in understanding what the market value of a home is and help you through the entire process.
Last month there were aproximately 7700 houses and condos on the market in all of San Diego county. Today there is just 6740. The combination of historically low interest rates, pent up buyer demand and investors making their move have all contributed to the decline in inventory. Right now there is actually a shortage of available properties. At the peak of the recession there was a 13 month supply of inventory, today just over a 1 month.
So what does that mean to you? Well, if you are buyer you need to be prepared for this and understand that you are going to need to be patient. New listings are not flooding the market. You are not going to have 20-30 houses to look at that meet your needs, in fact if you are in the under $250,000 range you are going to be lucky to have 5 (depending on area, size, etc). You are going to need to act quickly and not wait for the weekend to view a property and submit an offer. When a quality listing hits the market you need to be ready, meaning be prequalified for your loan and ready to make a decision. You may also have to compromise on what you are looking for or raise your price point. The days of "low balling" an offer are over. You need to understand what homes are selling for in the area and submit a competitive, clean offer at market value.
If you are a seller you should be taking advantage of the low inventory. If you are considering selling you need to get your home on the market. Why wait until the banks release more REO's or the buyers purchase a different home? You will need to be smart and understand that you still have to price the home to sell. An overpriced home will not sell no matter what the inventory or market is like. A home that is priced above market value is not going to sell. It will not appraise so the buyer will not be able to get the loan and an investor will be a savvy buyer that thinks only of the bottom line. You will also need to understand that while most areas of the county have seen a stabilization of prices, this does not mean that prices are significantly rising. The market will bounce around down here at the bottom and slowly improve. There is not going to be a sharp increase in prices which will bring you back up to where it was at the height within the next year.
If are considering buying or selling, give me a call. I will assist you in understanding what the market value of a home is and help you through the entire process.
Tuesday, May 15, 2012
FHA Condos - Do They Really Exist?
With all the media coverage on the historically low interst rates and lower home prices, it is no wonder that there are many first time home buyers looking to make a purchase. A FHA loan is often the way to go for these buyers since the down payment can be as little as 3.5%. For many, this can be a double edged sword. I have numerous buyers right now who qualify for $150,000 using a FHA loan. They are interested in buying their first condo and are very excited and ready to go. They quickly realize that it is not going to be as easy as they thought. See when using a FHA loan there are some special criteria that must be met in order to qualify for the loan. Not only do the individuals need to qualify in terms of income, debt and credit but the condo unit and condo complex also need to qualify.
The condo unit has to be habitable. The condo systems such as electricity, plumbing and heat all need to be in good working order. There needs to be flooring, no peeling paint or holes, and a working stove. With a $150,000 purchase price limit, in San Diego this is the very bottom of the home price range. Many of the condos are in very rough condition and will not meet the FHA requirements. Let's say we do find one in decent condition, that is only the first hurdle. Now we need to take a look at the complex. The complex needs to have minimum of 51% owner occupied units. As more investors snap up the units that are in rough shape and rent them out the lower this percentage becomes. Leaving fewer and fewer complexes that meet this requirement. The third hurdle is that in order to go FHA the complex must not have a high delinquency rate of the HOA fees. With so many homeowners losing their condo many times the HOA fees are not paid for months at a time and if the property is a short sale many banks will NOT agree to pay the back HOA fees. The HOAs need to be in good shape in order for FHA to be possible. The complexes that have the higher owner occupied percentages and lower delinquency rates tend to be the more expensive complexes, which are out of the buyer's budget. I tell you this to keep you informed so that you go into your home search with your eyes wide open. For example in zip code 92019 there are only 11 complexes on the FHA approval list and most do not have condos listed for under $150,000.
So where does that leave you? It is not impossible to find a FHA condo for under $150,000 but you need to understand that not every condo you see on a listing website will work for you. You will need to have patience and understand the rules you are playing by. This will allow you to make informed decisions and be less likely to be disappointed when you find a condo you love but doesn't qualify for FHA. You will understand that there is stiff competition for properties of this type and be able to write competitive offers when you do find one that suits your needs. So go into the house hunt with knowledge and understanding. Understand what you are up against and don't give up. Keep looking and pushing and you will find what you need but give yourself plenty of time to do it.
The condo unit has to be habitable. The condo systems such as electricity, plumbing and heat all need to be in good working order. There needs to be flooring, no peeling paint or holes, and a working stove. With a $150,000 purchase price limit, in San Diego this is the very bottom of the home price range. Many of the condos are in very rough condition and will not meet the FHA requirements. Let's say we do find one in decent condition, that is only the first hurdle. Now we need to take a look at the complex. The complex needs to have minimum of 51% owner occupied units. As more investors snap up the units that are in rough shape and rent them out the lower this percentage becomes. Leaving fewer and fewer complexes that meet this requirement. The third hurdle is that in order to go FHA the complex must not have a high delinquency rate of the HOA fees. With so many homeowners losing their condo many times the HOA fees are not paid for months at a time and if the property is a short sale many banks will NOT agree to pay the back HOA fees. The HOAs need to be in good shape in order for FHA to be possible. The complexes that have the higher owner occupied percentages and lower delinquency rates tend to be the more expensive complexes, which are out of the buyer's budget. I tell you this to keep you informed so that you go into your home search with your eyes wide open. For example in zip code 92019 there are only 11 complexes on the FHA approval list and most do not have condos listed for under $150,000. So where does that leave you? It is not impossible to find a FHA condo for under $150,000 but you need to understand that not every condo you see on a listing website will work for you. You will need to have patience and understand the rules you are playing by. This will allow you to make informed decisions and be less likely to be disappointed when you find a condo you love but doesn't qualify for FHA. You will understand that there is stiff competition for properties of this type and be able to write competitive offers when you do find one that suits your needs. So go into the house hunt with knowledge and understanding. Understand what you are up against and don't give up. Keep looking and pushing and you will find what you need but give yourself plenty of time to do it.
Friday, May 4, 2012
El Cajon Concerts on the Promenade 2012
It is time once again for the El Cajon summer concert series, Concerts on the Promenade! Formerly known as Concerts on the Green, the summer concerts kick off tonight and will continue every Friday from now until the end of September. Come out for this free event every Friday from 6:00pm to 8:00pm. Located on Prescott Promenade near the corner of Main St and Magnolia, in the heart of El Cajon downtown. Here is the 2012 Event Schedule...
5/4 Pelicans (rock)
5/11 5 O'clock Shadow (acoustic)
5/18 Thunder Road Tribute Band (rock)
5/25 Coyote Band (country)
6/1 The Mighty Untouchables (dance/soul)
6/8 Chini Comberros (Spanish Flamenco)
6/15 Catillacs (nostalgic rock)
6/22 Lightening Train (country)
6/29 Upstream (caribbean)
7/6 The Heroes (rock)
7/13 Fred Benidetti (classic guitar)
7/20 Petty Breakers Tribute Band (rock)
7/27 Soul Persuaders (funk/rock)
8/3 Firefly (contemporary rock)
8/10 Tom Hyatt and the Sundown Riders (western)
8/17 Jones Revival (classic rock/soul)
8/24 Mardells (nostalgic rock)
8/31 Hot Rod Lincoln (rock-a-billy)
9/7 Back to the Garden Tribute Band (rock)
9/14 Berkley Hart Coffee (house)
9/21 Caliber Contemporary (classic rock)
9/28 Sue Palmer (boogie woogie)
Grab your chair and/or blanket and come out to this fun event. This is a great way to start your weekend. See you there!
5/4 Pelicans (rock)
5/11 5 O'clock Shadow (acoustic)
5/18 Thunder Road Tribute Band (rock)
5/25 Coyote Band (country)
6/1 The Mighty Untouchables (dance/soul)
6/8 Chini Comberros (Spanish Flamenco)
6/15 Catillacs (nostalgic rock)
6/22 Lightening Train (country)
6/29 Upstream (caribbean)
7/6 The Heroes (rock)
7/13 Fred Benidetti (classic guitar)
7/20 Petty Breakers Tribute Band (rock)
7/27 Soul Persuaders (funk/rock)
8/3 Firefly (contemporary rock)
8/10 Tom Hyatt and the Sundown Riders (western)
8/17 Jones Revival (classic rock/soul)
8/24 Mardells (nostalgic rock)
8/31 Hot Rod Lincoln (rock-a-billy)
9/7 Back to the Garden Tribute Band (rock)
9/14 Berkley Hart Coffee (house)
9/21 Caliber Contemporary (classic rock)
9/28 Sue Palmer (boogie woogie)
Grab your chair and/or blanket and come out to this fun event. This is a great way to start your weekend. See you there!
Wednesday, May 2, 2012
El Cajon Car Cruise and Show 2012
The Cajon Classic Cruise is a weekly car show held on Wednesday evenings from April 25th, 2012 though September 26,2012. The cruise runs every Wednesday from 5:00pm to 8:00pm in downtown El Cajon on Main Street and Magnolia. This is Southern California's largest weekly car show. Each week features a different theme and trophies are awarded in several categories each week. Plan on coming out to see classic cars and motorcycles, enjoy live entertainment, vendors, shops and restaurants.
Car Show Schedule
May 2: Cinco De Mayo
May 9: Flames on Main
May 16: Topless Nights (convertibles)
May 23: Funny Car Frenzy
May 30: Bike Night
June 6: Call of Duty (Military and Police)
June 13: Extreme Horsepower
June 20: Evolution of the Thunderbird
June 27: Rat Rod Rally
July 4: Salute to American Muscle
July 11: Cajon Speed Week
July 18: Off-Road Madness (Full Street Closure)
July 25: T-Buckets Galore
Aug 1: Return to the Horseless Carriage
Aug 8: Dragsters Rule
Aug 15: Evolution of the Camaro
Aug 22: Charger Steve's Starz Carz
Aug 29: Vintage Vans
Sept 5: Evolution of the Mustang
Sept 12: British Invasion
Sept 19: Truck Mania
Sept 26: Thunder on Main (Full Street Closure)
Car Show Schedule
May 2: Cinco De Mayo
May 9: Flames on Main
May 16: Topless Nights (convertibles)
May 23: Funny Car Frenzy
May 30: Bike Night
June 6: Call of Duty (Military and Police)
June 13: Extreme Horsepower
June 20: Evolution of the Thunderbird
June 27: Rat Rod Rally
July 4: Salute to American Muscle
July 11: Cajon Speed Week
July 18: Off-Road Madness (Full Street Closure)
July 25: T-Buckets Galore
Aug 1: Return to the Horseless Carriage
Aug 8: Dragsters Rule
Aug 15: Evolution of the Camaro
Aug 22: Charger Steve's Starz Carz
Aug 29: Vintage Vans
Sept 5: Evolution of the Mustang
Sept 12: British Invasion
Sept 19: Truck Mania
Sept 26: Thunder on Main (Full Street Closure)
Tuesday, May 1, 2012
El Cajon Real Estate Market Report - April 2012
Here are the El Cajon real estate market conditions for the month of April 2012. I have included the number of active listings, pending homes and the homes that sold in April for all three zip codes in El Cajon. If you would like the stats for condos or another zip code, please feel free to give me a call.
92019
There are currently 61 active real estate listings in El Cajon, ranging from $191,180 for 3 bedroom, 2 bathrooms, 1180 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
52 properties are pending (in escrow).
19 properties sold (closed escrow) in April. Ranging from $196,000 for 2 bedroom, 1 bathroom, 1011 square feet to $560,000 for 4 bedrooms, 3 bathrooms, 3279 square feet. The average time on the market was 60 days.
92020
There are currently 48 active real estate listings in El Cajon (92020). Ranging from $165,000 for 2 bedrooms, 1 bathroom, 792 square feet to $900,000 for 4 bedrooms, 3 bathrooms, 2926 square feet.
51 properties are pending (in escrow).
28 properties sold (closed escrow) in April. Ranging from $139,000 for 2 bedrooms, 1 bathroom, 720 square feet to $730,000 for 4 bedrooms, 3 bathrooms, 2761 square feet. The average time on the market was 49 days.
92021
There are currently 58 active real estate listings in El Cajon (92021). Ranging from $119,900 for 2 bedrooms, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (in escrow).
30 properties sold (closed escrow) in April. Ranging from $114,500 for 2 bedrooms, 1 bathroom, 604 square feet to $710,000 for 5 bedrooms, 4 bathrooms, 6229 square feet. The average time on the market was 78 days.
92019
There are currently 61 active real estate listings in El Cajon, ranging from $191,180 for 3 bedroom, 2 bathrooms, 1180 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
52 properties are pending (in escrow).
19 properties sold (closed escrow) in April. Ranging from $196,000 for 2 bedroom, 1 bathroom, 1011 square feet to $560,000 for 4 bedrooms, 3 bathrooms, 3279 square feet. The average time on the market was 60 days.
92020
There are currently 48 active real estate listings in El Cajon (92020). Ranging from $165,000 for 2 bedrooms, 1 bathroom, 792 square feet to $900,000 for 4 bedrooms, 3 bathrooms, 2926 square feet.
51 properties are pending (in escrow).
28 properties sold (closed escrow) in April. Ranging from $139,000 for 2 bedrooms, 1 bathroom, 720 square feet to $730,000 for 4 bedrooms, 3 bathrooms, 2761 square feet. The average time on the market was 49 days.
92021
There are currently 58 active real estate listings in El Cajon (92021). Ranging from $119,900 for 2 bedrooms, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (in escrow).
30 properties sold (closed escrow) in April. Ranging from $114,500 for 2 bedrooms, 1 bathroom, 604 square feet to $710,000 for 5 bedrooms, 4 bathrooms, 6229 square feet. The average time on the market was 78 days.
Alpine Real Estate Market Report - April 2012
Here are the Alpine real estate market conditions for the month of April 2012. I have included the number of active listing in Alpine, number of pending homes and the homes that sold in April. If you would like the stats for condos or another zip code, please feel free to give me a call.
There are currently 63 active real estate listings in Alpine, ranging from $175,000 for 3 bedroom, 1 bathroom, 1236 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
30 properties are pending (in escrow).
20 properties sold (closed escrow) in April. Ranging from $200,000 for 2 bedroom, 1 bathroom, 768 square feet to $875,000 for 5 bedrooms, 4 bathrooms, 5373 square feet. The average time on the market was 57 days.
There are currently 63 active real estate listings in Alpine, ranging from $175,000 for 3 bedroom, 1 bathroom, 1236 square feet to $2,595,000 for 6 bedrooms, 7 bathrooms, 6444 square feet.
30 properties are pending (in escrow).
20 properties sold (closed escrow) in April. Ranging from $200,000 for 2 bedroom, 1 bathroom, 768 square feet to $875,000 for 5 bedrooms, 4 bathrooms, 5373 square feet. The average time on the market was 57 days.
Jamul Real Estate Report - April 2012
It is May and time to take a look at the real estate statistics for the month of April. Here are the market conditions for Jamul.. I have included the numbers for active listings, pending sales and closed (sold) homes in Jamul. These numbers are for single family detached homes only.
There are currently only 27 active real estate listings in Jamul. Ranging from $184,900 for 1 bedroom, 1 bathroom, 640 square feet to $1,299,000 for 6 bedrooms, 5 bathrooms, 5712 square feet.
15 properties are pending, currently in escrow.
9 properties sold (closed escrow) in April. Ranging from $195,500 for 2 bedrooms, 2 bathrooms, 792 square feet to $520,000 for 4 bedrooms, 4 bathrooms, 3806 square feet. The average time on the market was 74 days.
There are currently only 27 active real estate listings in Jamul. Ranging from $184,900 for 1 bedroom, 1 bathroom, 640 square feet to $1,299,000 for 6 bedrooms, 5 bathrooms, 5712 square feet.
15 properties are pending, currently in escrow.
9 properties sold (closed escrow) in April. Ranging from $195,500 for 2 bedrooms, 2 bathrooms, 792 square feet to $520,000 for 4 bedrooms, 4 bathrooms, 3806 square feet. The average time on the market was 74 days.
Thursday, April 19, 2012
What is a Statement of Information and Why Is It Needed?
According to the California Residential Purchase Agreement released on April 28, 2010, all sellers of a Residential Property shall provide the escrow holder completed Statements of Information within seven days after acceptance of contract.
So what is a Statement of Information and why is it important? Well, the Statement of Information (SI) is a form that you fill out. It will ask you questions regarding other names you have used, where you have lived, the names and ages of your children and jobs you have had. This information is provided to the title company so they can distinguish the buyers and sellers involved in this transaction from other people with similar names. Once Title identifies the true buyers and sellers they can disregard judgments and liens on the public records that are linked to other people who may have similar names.
Whenever Title is insuring a property they search the recorded documents looking for anything that affects the property such as liens, court orders, and bankruptcies. These things affect the title to the property and will be listed as an exception from coverage on the title policy. The completed Statement of Information allows the title company to differentiate between recorded documents for the people involved in this particular transaction from parties with similar names. This protects all parties involved and allows the title company to completely carry out their duties.
So what is a Statement of Information and why is it important? Well, the Statement of Information (SI) is a form that you fill out. It will ask you questions regarding other names you have used, where you have lived, the names and ages of your children and jobs you have had. This information is provided to the title company so they can distinguish the buyers and sellers involved in this transaction from other people with similar names. Once Title identifies the true buyers and sellers they can disregard judgments and liens on the public records that are linked to other people who may have similar names.
Whenever Title is insuring a property they search the recorded documents looking for anything that affects the property such as liens, court orders, and bankruptcies. These things affect the title to the property and will be listed as an exception from coverage on the title policy. The completed Statement of Information allows the title company to differentiate between recorded documents for the people involved in this particular transaction from parties with similar names. This protects all parties involved and allows the title company to completely carry out their duties.
Thursday, April 12, 2012
Termites, Termites, Everywhere
I was recently visiting a friend when I glanced over at the sliding glass window. As I looked at the floor it appeared to be discolored and moving. I got up to inspect and realized that the floor in front of the door was covered with bugs. There were thousands (my friend says over a million) of them. They covered an area of approximately 3 foot by 10 foot. As we were vacuuming them up we realized that most of the bugs appeared to be dead. There were small black bodies and larger white wings. Many of the wings were detached from the bodies. I suspected they were termites but I had never seen so many dead ones at one time.
My friend did not know what to think. She had swept the kitchen floor earlier that day. What the heck?!? How could so many bugs congregate and die in such a short amount of time? First we went on the internet and confirmed that they were termites. We determined where they were coming from. We noticed that we kept seeing a few stranglers by the refrigerator. When we pulled out the frig we discovered where they were coming from.
Oh no. Would they need to tent and would she have to deal with finding a place to stay for a couple of days and don't even mention the hassle of bagging up food and dishes. We called Scott from Truly Nolan, a pest inspector I often recommend for my real estate transactions. He came out and did the inspection and confirmed they were subterraean termites. He did a thorough inspection and much to our relief there was no evidence of the wood eating termites in the home. He also told us tenting is not used to treat the subterranean termites because they are in the ground. They come out to breed and take off to establish new colonies. This is what happened in my friend's kitchen. They came up and tried to leave but only got as far as the closed sliding door and that is where they met their fate.
The work is scheduled for next week and should be completed in one day. My friend does not have to leave the home and her cat will be fine inside the house. They will squirt chemical into holes and trenches around the exterior of her home to create a barrier. They will do the same under her frig. While it is never pleasant to have to deal with unexpected home expenses, in this case it could have been much worse!
My friend did not know what to think. She had swept the kitchen floor earlier that day. What the heck?!? How could so many bugs congregate and die in such a short amount of time? First we went on the internet and confirmed that they were termites. We determined where they were coming from. We noticed that we kept seeing a few stranglers by the refrigerator. When we pulled out the frig we discovered where they were coming from.
 |
| Subterranean Termites |
Oh no. Would they need to tent and would she have to deal with finding a place to stay for a couple of days and don't even mention the hassle of bagging up food and dishes. We called Scott from Truly Nolan, a pest inspector I often recommend for my real estate transactions. He came out and did the inspection and confirmed they were subterraean termites. He did a thorough inspection and much to our relief there was no evidence of the wood eating termites in the home. He also told us tenting is not used to treat the subterranean termites because they are in the ground. They come out to breed and take off to establish new colonies. This is what happened in my friend's kitchen. They came up and tried to leave but only got as far as the closed sliding door and that is where they met their fate.
The work is scheduled for next week and should be completed in one day. My friend does not have to leave the home and her cat will be fine inside the house. They will squirt chemical into holes and trenches around the exterior of her home to create a barrier. They will do the same under her frig. While it is never pleasant to have to deal with unexpected home expenses, in this case it could have been much worse!
Wednesday, April 4, 2012
El Cajon Real Estate Market Report - March 2012
Here is how the El Cajon real estate market looked for the month of March. I am including the number of active listings, pending homes and homes that sold in March 2012 for all three zip codes in El Cajon. These numbers are for single family detached homes. If you would like statistics for condos or another area, please feel free to give me a call.
92019
There are currently only 61 Active homes for sale in El Cajon (92019); ranging from $169,900 for a 724 square foot, 1 bedroom, 1 bathroom property to $1,799,000 for a 3 bedroom, 4 bathroom, 4,702 square foot home.
47 properties are pending (currently in escrow).
32 properties sold in El Cajon (92019) in March (closed escrow); ranging from $155,000 for a 1,264 square foot, 3 bedroom, 2 bathroom to $750,000 for 4 bedrooms, 3 bathrooms, 3,671 square feet. The average time on the market was 78 days.
92020
There are currently only 52 Active homes for sale in El Cajon (92020); ranging from $165,000 for a 792 square foot, 2 bedroom, 1 bathroom property to $900,000 for a 4 bedroom, 3 bathroom, 2,926 square foot home.
52 properties are pending (currently in escrow).
19 properties sold in El Cajon (92020) in March (closed escrow); ranging from $140,000 for a 720 square foot, 2 bedroom, 1 bathroom to $490,000 for 4 bedrooms, 3 bathrooms, 2,288 square feet. The average time on the market was 58 days.
92021
There are currently only 58 Active homes for sale in El Cajon (92021); ranging from $175,000 for a 582 square foot, 1 bedroom, 1 bathroom property to $3,900,000 for a 4 bedroom, 6 bathroom, 7,745 square foot home.
54 properties are pending (currently in escrow).
39 properties sold in El Cajon (92021) in March (closed escrow); ranging from $134,000 for a 930 square foot, 3 bedroom, 1 bathroom to $860,000 for 4 bedrooms, 4 bathrooms, 4,565 square feet. The average time on the market was 81 days.
92019
There are currently only 61 Active homes for sale in El Cajon (92019); ranging from $169,900 for a 724 square foot, 1 bedroom, 1 bathroom property to $1,799,000 for a 3 bedroom, 4 bathroom, 4,702 square foot home.
47 properties are pending (currently in escrow).
32 properties sold in El Cajon (92019) in March (closed escrow); ranging from $155,000 for a 1,264 square foot, 3 bedroom, 2 bathroom to $750,000 for 4 bedrooms, 3 bathrooms, 3,671 square feet. The average time on the market was 78 days.
92020
There are currently only 52 Active homes for sale in El Cajon (92020); ranging from $165,000 for a 792 square foot, 2 bedroom, 1 bathroom property to $900,000 for a 4 bedroom, 3 bathroom, 2,926 square foot home.
52 properties are pending (currently in escrow).
19 properties sold in El Cajon (92020) in March (closed escrow); ranging from $140,000 for a 720 square foot, 2 bedroom, 1 bathroom to $490,000 for 4 bedrooms, 3 bathrooms, 2,288 square feet. The average time on the market was 58 days.
92021
There are currently only 58 Active homes for sale in El Cajon (92021); ranging from $175,000 for a 582 square foot, 1 bedroom, 1 bathroom property to $3,900,000 for a 4 bedroom, 6 bathroom, 7,745 square foot home.
54 properties are pending (currently in escrow).
39 properties sold in El Cajon (92021) in March (closed escrow); ranging from $134,000 for a 930 square foot, 3 bedroom, 1 bathroom to $860,000 for 4 bedrooms, 4 bathrooms, 4,565 square feet. The average time on the market was 81 days.
Alpine Real Estate Market Report - March 2012
It is time to see how the Alpine real estate market looked. I am including the number of active Alpine listings, pending homes and homes that sold in March 2012. These number are for single family detached homes. If you would like statistics for condos or another area, please feel free to give me a call.
There are currently only 63 Active real estate listing in Alpine; ranging from $111,900 for a 768 square foot, 2 bedroom, 1 bathroom property to $2,595,000 for a 6 bedroom, 7 bathroom, 6,444 square foot home.
35 properties are pending (currently in escrow).
9 properties sold in Alpine in March (closed escrow); ranging from $251,000 for a 1,272 square foot, 3 bedroom, 2 bathroom to $499,000 for 4 bedrooms, 3 bathrooms, 2,585 square feet. The average time on the market was 77 days.
There are currently only 63 Active real estate listing in Alpine; ranging from $111,900 for a 768 square foot, 2 bedroom, 1 bathroom property to $2,595,000 for a 6 bedroom, 7 bathroom, 6,444 square foot home.
35 properties are pending (currently in escrow).
9 properties sold in Alpine in March (closed escrow); ranging from $251,000 for a 1,272 square foot, 3 bedroom, 2 bathroom to $499,000 for 4 bedrooms, 3 bathrooms, 2,585 square feet. The average time on the market was 77 days.
Jamul Real Estate Market Report - March 2012
Hard to believe but March is gone and it is time to see how the Jamul real estate market looked. I am including the number of active Jamul listings, pending homes and homes that sold in March 2012. These number are for single family detached homes. If you would like statistics for another area, please feel free to give me a call.
There are currently only 26 Active real estate listing in Jamul; ranging from $159,900 for a 588 square foot studio property to $1,299,000 for a 6 bedroom, 5 bathroom, 5,712 square foot home.
18 properties are pending (currently in escrow).
10 properties sold in Jamul in March (closed escrow); ranging from $165,000 for a 1,008 square foot studio to $666,000 for 3 bedrooms, 3 bathrooms, 3,065 square feet. The average time on the market was 77 days.
There are currently only 26 Active real estate listing in Jamul; ranging from $159,900 for a 588 square foot studio property to $1,299,000 for a 6 bedroom, 5 bathroom, 5,712 square foot home.
18 properties are pending (currently in escrow).
10 properties sold in Jamul in March (closed escrow); ranging from $165,000 for a 1,008 square foot studio to $666,000 for 3 bedrooms, 3 bathrooms, 3,065 square feet. The average time on the market was 77 days.
Monday, March 26, 2012
Home For Sale in El Cajon - Price Reduced!
Home for sale and just reduced in El Cajon! 4 bedrooms, 2 bathrooms, 1650 square feet. Built in 1981. Listed for $275,000 - $280,000. This is not a short sale or bank owned. Submit an offer and close quickly. Call me today for all the details.Monday, March 19, 2012
How Far Have Home Prices Fallen?
We all know that home prices have fallen dramatically over the past few years. Have you ever asked yourself how much? I have pulled some of the current listings in Rancho San Diego and then took a look at what they last sold for as a comparison. Here is what I found...
1 bedroom, 1 bath condo in Rancho Villas is listed for $128,000 today. In 2005 it sold for $316,500.
3 bedroom, 2.5 bathroom, attached twin home off of Hilton Head is listed for $195,000. It sold for $440,000 in 2005.
4 bedroom, 2.5 bathroom home on Sawgrass in Corte Madera development is listed for $369,900. In 2005 is sold for $750,000
When you compare today's prices to prices of the past, it is easy to see why everyone is saying it is a great time to buy. And remember, interest rates are also at an all time low.
1 bedroom, 1 bath condo in Rancho Villas is listed for $128,000 today. In 2005 it sold for $316,500.
3 bedroom, 2.5 bathroom, attached twin home off of Hilton Head is listed for $195,000. It sold for $440,000 in 2005.
4 bedroom, 2.5 bathroom home on Sawgrass in Corte Madera development is listed for $369,900. In 2005 is sold for $750,000
When you compare today's prices to prices of the past, it is easy to see why everyone is saying it is a great time to buy. And remember, interest rates are also at an all time low.
Thursday, March 15, 2012
Mortgage Calculator
How much home can you afford? Try this mortgage calculator to find out. When you are ready to start the home buying process, give me a call.
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Wednesday, March 14, 2012
Buyer Closing Costs Explained
One of the biggest questions I get from people buying their first home is "What are closing costs and how much will we have to pay?" Closing costs are the costs that are associated with buying a home. They are paid at the close of escrow. The most common closing costs are the fees related to obtaining the loan, appraisal fees, title fees, escrow fees, and prepaid items such as taxes and insurance. Many times the exact amount of the closing costs is not know until right before the day of closing because they are prorated through the day escrow closes. You will however have a good idea of what they will be by taking a look at the settlement statement provided by escrow. The settlement statement or HUD1 lists all the financial details of the transaction. It is important to review this document and understand the charges.Closing costs are negotiable between the buyer and the seller at the time you are submitting the offer. You can ask the seller to cover all or part of the closing costs you will need to pay. This is why it is a good idea to have an estimate of what your closing costs will be before you submit an offer so you know how much to ask for. Make sure you are prequalified with a lender in advance and have an idea of how much your closing costs will be. If you are fortunate enough to get the seller to agree to pay some or all of your closing costs you may need to only bring in your down payment and pay for the out of pocket costs such as the home inspections.
The majority of closing costs are associated with the loan. These costs will vary from lender to lender. The loan origination fee is the lender's commission. It is how much the originator receives for getting you qualified for your loan. It is typically about 3%. The appraisal fee is about $450+ and usually needs to be paid prior to closing (out of pocket). Courier fees cover the costs of send paperwork back and forth between escrow, title and the lender. Notary fees are charged for notarizing the loan docs/deeds. Escrow fees pay for the escrow services. Title fees cover the costs to check on and insure a clear title.
Pre-paid items could include insurance and taxes. Buyers usually have to have a valid insurance policy/binder showing they have paid the insurance for the first year, hence the term pre-paid. Property taxes are prorated to the day escrow closes. The seller pays for the amount of time they owned the property so a charge or credit will be applied depending on what has been paid. The lender may require the buyer pay a number of months of taxes and insurance into an "escrow" or "impound" account. Taxes and insurance charges are then added and included in the monthly mortgage payment and a portion is deposited into this account. The mortgage company will then pay the taxes and insurance out of this account.
And finally you should make sure you have the money to do any and all home inspections that you want. These will not show up on the HUD and will need to be paid out of pocket at the time of the inspection. They typically run between $300-$500 for a general inspection depending on size and type of home. If there is septic or well on the property those can run about $400 a piece. These are just a few of the inspections you may want to have done. The costs of doing inspections can add up but knowing what you are buying and having the home checked by a qualified professional is priceless.
Wednesday, March 7, 2012
Rental Scam
There are tons of scams on the web and one in particular that I want you to be aware of. I have a listing for a home that is for sale. This listing has shown up on Craigslist as being for rent. The scammers have poached the listing pictures and written up an ad on Craigslist. When you email them for more information you recieve the following response...
The email is then signed with the property owners name so if you checked the tax records it would appear you are dealing with the real owner. Unfortunately you are not. They have even tried to explain away why there is a for sale sign in the front yard! If you fill out the rental questionaire, you have just given away your identity! If you send them money, it is gone. I have recieved at least 6 calls from interested renters who drove by and were suspicious enough to call the number on my sign and get more information. Lucky for them they did, they avoided falling prey to a scam. I have no way of knowing who else may seen the ad and sent their information and/or money. Please be careful out there and do your research before sending anyone money or your personal information. It is sad that we all have to be on our guard but unfortunately we do.
"Thanks for your interest and inquiries about my house. Yes the house is still available for rent and we are looking for a responsible person/family to occupy and maintain the house now that we are not around. Myself and husband just traveled to West Africa on an evangelical mission involving in several projects like TEACHING AND EDUCATING CHILDREN ABOUT CHRIST, ORPHANAGE HOMES and so on..,Here is the site (http://www.missionfinder.org/educators.html) for more details, the program is taking place in three major countries in Europe, Africa, UK . We will be away for 2 to 3 years or more that is why we have made up my mind to put up my house for rent to whom ever that will take good care of it. However, our initial plan was to sell the house but it was not successful because the Realtor raised the price which made it difficult for me to sell before leaving the States so never mind if you see the for sale sign in front of the house, It has already been taken off the market as for sale so there is no need to contact any Realtor. The house is available for both long term and short term so long as you are ready to maintain the house... How soon do you intend to move in?
Note: I would like you to drive-by the house to view the exterior and neighborhood of the house . Get back to me asap so i can forward you the rent questionnaire i will want you to fill
Regards."
The email is then signed with the property owners name so if you checked the tax records it would appear you are dealing with the real owner. Unfortunately you are not. They have even tried to explain away why there is a for sale sign in the front yard! If you fill out the rental questionaire, you have just given away your identity! If you send them money, it is gone. I have recieved at least 6 calls from interested renters who drove by and were suspicious enough to call the number on my sign and get more information. Lucky for them they did, they avoided falling prey to a scam. I have no way of knowing who else may seen the ad and sent their information and/or money. Please be careful out there and do your research before sending anyone money or your personal information. It is sad that we all have to be on our guard but unfortunately we do.
Thursday, March 1, 2012
El Cajon Real Estate Market Report - February 2012
It is time once again to take a look at the El Cajon Real Estate Market. I have included information about the homes currently on the market, the pending listings and the homes that sold. These numbers are for single family detached homes. The information is broken down by the three El Cajon zip codes.
92019
There are currently 62 Active real estate listings in El Cajon (92019) . They range from $199,900 for 2 bedroom, 1 bathroom, 1011 square feet to $1,799,000 for a 3 bedroom, 4 bathroom, 4702 square feet.
40 properties are pending, (currently in escrow).
15 properties sold (closed escrow) in February. They ranged from $170,000 for a 3 bedroom, 1 bathroom, 1084 square feet to $610,000 for 3 bedrooms, 3 bathrooms, 2802 square feet. The average time on the market was 104 days.
92020
There are currently 65 Active real estate listings in El Cajon (92020) . They range from $139,000 for 2 bedroom, 1 bathroom, 720 square feet to $890,000 for a 4 bedroom, 6 bathroom, 4241 square feet.
37 properties are pending, (currently in escrow).
19 properties sold (closed escrow) in February. They ranged from $160,000 for a 3 bedroom, 2 bathroom, 1218 square feet to $590,000 for 4 bedrooms, 3 bathrooms, 2827 square feet. The average time on the market was 54 days.
92021
There are currently 72 Active real estate listings in El Cajon (92021) . They range from $157,900 for 2 bedroom, 1 bathroom, 664 square feet to $1,550,000 for a 3 bedroom, 3 bathroom, 5500 square feet.
56 properties are pending, (currently in escrow).
34 properties sold (closed escrow) in February. They ranged from $159,000 for a 2 bedroom, 1 bathroom, 748 square feet to $625,000 for 5 bedrooms, 4 bathrooms, 3369 square feet. The average time on the market was 67 days.
92019
There are currently 62 Active real estate listings in El Cajon (92019) . They range from $199,900 for 2 bedroom, 1 bathroom, 1011 square feet to $1,799,000 for a 3 bedroom, 4 bathroom, 4702 square feet.
40 properties are pending, (currently in escrow).
15 properties sold (closed escrow) in February. They ranged from $170,000 for a 3 bedroom, 1 bathroom, 1084 square feet to $610,000 for 3 bedrooms, 3 bathrooms, 2802 square feet. The average time on the market was 104 days.
92020
There are currently 65 Active real estate listings in El Cajon (92020) . They range from $139,000 for 2 bedroom, 1 bathroom, 720 square feet to $890,000 for a 4 bedroom, 6 bathroom, 4241 square feet.
37 properties are pending, (currently in escrow).
19 properties sold (closed escrow) in February. They ranged from $160,000 for a 3 bedroom, 2 bathroom, 1218 square feet to $590,000 for 4 bedrooms, 3 bathrooms, 2827 square feet. The average time on the market was 54 days.
92021
There are currently 72 Active real estate listings in El Cajon (92021) . They range from $157,900 for 2 bedroom, 1 bathroom, 664 square feet to $1,550,000 for a 3 bedroom, 3 bathroom, 5500 square feet.
56 properties are pending, (currently in escrow).
34 properties sold (closed escrow) in February. They ranged from $159,000 for a 2 bedroom, 1 bathroom, 748 square feet to $625,000 for 5 bedrooms, 4 bathrooms, 3369 square feet. The average time on the market was 67 days.
Alpine Real Estate Market Report - February 2012
It is time once again to look at what happened in the Alpine Real Estate Market. I have included information about the homes currently on the market, the pending listings and the homes that sold. These numbers are for single family detached homes.
There are currently 69 Active real estate listings in Alpine . They range from $169,900 for 2 bedroom, 2 bathroom, 740 square feet to $2,595,000 for a 6 bedroom, 7 bathroom, 6444 square feet.
25 properties are pending, (currently in escrow).
17 properties sold (closed escrow) in February. They ranged from $299,900 for a 3 bedroom, 2 bathroom, 1472 square feet to $575,000 for 5 bedrooms, 4 bathrooms, 3600 square feet. The average time on the market was 62 days.
There are currently 69 Active real estate listings in Alpine . They range from $169,900 for 2 bedroom, 2 bathroom, 740 square feet to $2,595,000 for a 6 bedroom, 7 bathroom, 6444 square feet.
25 properties are pending, (currently in escrow).
17 properties sold (closed escrow) in February. They ranged from $299,900 for a 3 bedroom, 2 bathroom, 1472 square feet to $575,000 for 5 bedrooms, 4 bathrooms, 3600 square feet. The average time on the market was 62 days.
Jamul Real Estate Market Report - February 2012
Even though Febrary was 1 day longer than it usually is, it sure did go quickly! It is time once again to look at what happened in the Jamul Real Estate Market. I have included information about the homes currently on the market, the pending listings and the homes that sold. These numbers are for single family detached homes.
There are currently only 31 Active listings in Jamul. They range from $199,000 for 1 bedroom, 1 bathroom, 640 square feet to $1,250,000 for a 2 bedroom, 3 bathroom, 4360 square feet, (yes the number of bedrooms is correct with 2).
14 properties are pending, (currently in escrow).
9 properties sold (closed escrow) in February. They ranged from $165,000 for a 2 bedroom, 2 bathroom, 1440 square feet to $800,000 for 4 bedrooms, 5 bathrooms, 5256 square feet. The average time on the market was 92 days.
There are currently only 31 Active listings in Jamul. They range from $199,000 for 1 bedroom, 1 bathroom, 640 square feet to $1,250,000 for a 2 bedroom, 3 bathroom, 4360 square feet, (yes the number of bedrooms is correct with 2).
14 properties are pending, (currently in escrow).
9 properties sold (closed escrow) in February. They ranged from $165,000 for a 2 bedroom, 2 bathroom, 1440 square feet to $800,000 for 4 bedrooms, 5 bathrooms, 5256 square feet. The average time on the market was 92 days.
Thursday, February 23, 2012
4 Bedroom Fletcher Hills Home for Sale
Fletcher Hills Home for sale. Call me for all the details and to arrange a time to view.
Wednesday, February 15, 2012
The Perfect Real Estate Storm
There is a perfect storm brewing in real estate. There have been hints of it's existence in the news and I can definitely feel it's rumbling. Just as you can sense when it is about to rain I can sense this real estate storm churning just beneath the surface. When this storm comes to fruition it will not bring destruction however, it is bringing opportunity. What has started is the opportunity of a life time for those who are willing to seize it.
There are numerous factors contributing to this perfect real estate storm. We are seeing historically low interest rates of under 4%. This is historic! We have never seen rates this low before and it is projected that the rates will stay low through 2013. The second factor in the storm is that prices of homes have dropped by nearly half from the peak. This means that home affordability is at a high. Here in San Diego home affordability is at 62%. These means that 62% of San Diegans can afford to buy a home. In 2007 the home affordability level was a mere 10%. This is a huge increase in the number of people who can afford to buy a home.
The economy appears to to be improving. One of the biggest indicators is the unemployment rate. The unemployment rate here is 8.2%, it has been decreasing for the last 2 years. In 2011 25,000 new jobs were added. This is a great indication that our economy is improving and will only add to the storm.
The next huge factor contributing to the perfect real estate storm is the inventory of homes for sale. For the last few years the "shadow inventory" has been described as a black cloud hanging over real estate, preventing it's recovery and threatening a double dip. It is not looking like all the doom and gloom was warranted. Yes, the banks have a lot of inventory but they are not going to flood the market with new listings. They are considering many options such as bulk sales to investors, principle write downs, shared equity programs, and renting the properties. It is unlikely that all of the bank shadow inventory will hit the real estate market causing a flood. The other factor effecting inventory is the lack of new homes that were recently built. When the economy crashed the builders stopped building. Last year in San Diego there were only 879 new homes built. This does not nearly cover the new housing needed to compensate for the rise in our population. It is estimated that 10,000 new homes are needed each year. The biggest complaint I hear from fellow agents and buyers alike is that there are not enough houses on the market!
Another factor is the pent up demand of buyers. For the last five years or so, buyers have been sitting on the fence. Those that otherwise may have purchased were frozen with fear of the economy and the real estate market. We basically have 5 years of buyers stored up and ready to buy. Rents are going up. In many cases now it is cheaper to own a home than to rent one! The divorce rate goes down in a poor economy since people can not afford to divorce. This is another group of pent up buyers. They are not going to stay married for long once they can afford to get a divorce. All these pent up buyers are beginning to come off the fence realizing now is the time to buy. This trend is going to become stronger.
When we look at all the factors contributing to the perfect real estate storm, it is no wonder that the buyers are beginning to move. I am currently working with investors who are already taking advantage of this. They are buying multiple properties. They are setting themselves up to be in a perfect position once the storm ends. Remember at the height of the market when little track homes were selling at over $400,000 and you thought to yourself "I should have bought early" or maybe I "should have picked up a rental property"? You were kicking yourself because you were thinking of the profit that you could have made or the money you could have saved. Well, the forward thinking people have started buying again. Ask yourself, do you want to be kicking yourself again in the future or do you want to take advantage of the opportunity created by this perfect real estate storm?
There are numerous factors contributing to this perfect real estate storm. We are seeing historically low interest rates of under 4%. This is historic! We have never seen rates this low before and it is projected that the rates will stay low through 2013. The second factor in the storm is that prices of homes have dropped by nearly half from the peak. This means that home affordability is at a high. Here in San Diego home affordability is at 62%. These means that 62% of San Diegans can afford to buy a home. In 2007 the home affordability level was a mere 10%. This is a huge increase in the number of people who can afford to buy a home.
The economy appears to to be improving. One of the biggest indicators is the unemployment rate. The unemployment rate here is 8.2%, it has been decreasing for the last 2 years. In 2011 25,000 new jobs were added. This is a great indication that our economy is improving and will only add to the storm.
The next huge factor contributing to the perfect real estate storm is the inventory of homes for sale. For the last few years the "shadow inventory" has been described as a black cloud hanging over real estate, preventing it's recovery and threatening a double dip. It is not looking like all the doom and gloom was warranted. Yes, the banks have a lot of inventory but they are not going to flood the market with new listings. They are considering many options such as bulk sales to investors, principle write downs, shared equity programs, and renting the properties. It is unlikely that all of the bank shadow inventory will hit the real estate market causing a flood. The other factor effecting inventory is the lack of new homes that were recently built. When the economy crashed the builders stopped building. Last year in San Diego there were only 879 new homes built. This does not nearly cover the new housing needed to compensate for the rise in our population. It is estimated that 10,000 new homes are needed each year. The biggest complaint I hear from fellow agents and buyers alike is that there are not enough houses on the market!
Another factor is the pent up demand of buyers. For the last five years or so, buyers have been sitting on the fence. Those that otherwise may have purchased were frozen with fear of the economy and the real estate market. We basically have 5 years of buyers stored up and ready to buy. Rents are going up. In many cases now it is cheaper to own a home than to rent one! The divorce rate goes down in a poor economy since people can not afford to divorce. This is another group of pent up buyers. They are not going to stay married for long once they can afford to get a divorce. All these pent up buyers are beginning to come off the fence realizing now is the time to buy. This trend is going to become stronger.
When we look at all the factors contributing to the perfect real estate storm, it is no wonder that the buyers are beginning to move. I am currently working with investors who are already taking advantage of this. They are buying multiple properties. They are setting themselves up to be in a perfect position once the storm ends. Remember at the height of the market when little track homes were selling at over $400,000 and you thought to yourself "I should have bought early" or maybe I "should have picked up a rental property"? You were kicking yourself because you were thinking of the profit that you could have made or the money you could have saved. Well, the forward thinking people have started buying again. Ask yourself, do you want to be kicking yourself again in the future or do you want to take advantage of the opportunity created by this perfect real estate storm?
Friday, February 10, 2012
What Does "Contingent Status" Mean?
One of the most commonly asked questions I get from people just starting the home buying process is "What does contingent in the status of a listing mean?" What buyers need to understand is that there is a difference between the active and contingent statuses. When a listing is active the seller is actively looking for offers. There are no accepted offers on the property and the property is still available.
The contingent status is a relatively new status that was created in response to the increase in the number of short sales. Short sales have an additional step in the negotiation process. They require the short sale lender to approve the sale and the offer in order to move forward. There is a period of time when the buyer and seller have agreed to terms and the file is sent to the short sale lender for their approval. During this time the property moves into contingent status. When you see contingent it means the seller has accepted an offer on the property and they are waiting for the bank to approve, counter or reject the offer.
The contingent status is meant to alert agents and buyers that there are offers on the property and one offer has been has been accepted by the seller and submitted to the short sale lender for review. Before there was a contingent status, buyers and their agents were viewing and submitting offers on these short sales not knowing that there was already an accepted offer. This was very frustrating. The property will stay in the contingent status until the short sale lender makes a decision. If the lender accepts the offer, the property will then move into a pending status (in escrow). If the short sale lender does not accept the offer or through negotiations an agreement can not be reached, the property will move back into the active status.
I hope this helps. Do you have any other questions? Feel free to let me know if you do. I am here to help.
The contingent status is a relatively new status that was created in response to the increase in the number of short sales. Short sales have an additional step in the negotiation process. They require the short sale lender to approve the sale and the offer in order to move forward. There is a period of time when the buyer and seller have agreed to terms and the file is sent to the short sale lender for their approval. During this time the property moves into contingent status. When you see contingent it means the seller has accepted an offer on the property and they are waiting for the bank to approve, counter or reject the offer.
The contingent status is meant to alert agents and buyers that there are offers on the property and one offer has been has been accepted by the seller and submitted to the short sale lender for review. Before there was a contingent status, buyers and their agents were viewing and submitting offers on these short sales not knowing that there was already an accepted offer. This was very frustrating. The property will stay in the contingent status until the short sale lender makes a decision. If the lender accepts the offer, the property will then move into a pending status (in escrow). If the short sale lender does not accept the offer or through negotiations an agreement can not be reached, the property will move back into the active status.
I hope this helps. Do you have any other questions? Feel free to let me know if you do. I am here to help.
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