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!

Alpine Real Estate Market Report - November 2011

Here are the statistics for Alpine real estate for the month of November.  If you would like to research another real estate market please visit www.KQSellsHomes.com

There are currently 82 active homes for sale in Alpine.  Ranging from $131,000 for 2 bedrooms, 1 bath, 768 sqft to $2,595,000 for 3 bedroom, 3 bathrooms, 3000 sqft.

26 properties are pending, currently in escrow.

16 properties sold in November (closed escrow) ranging from $250,000 for 4 bedroom, 4 bathroom, 2356 sqft to $895,000 for 4 bedroom, 4 bathroom, 5085 sqft.  The average time on the market was 119 days.

Rancho San Diego - La Vida Real - Senior Living Community

I recently sold a home for a wonderful gentleman by the name of George.  George is in his late 80's and possible 90's.  He came to me when it was time for him to sell the 2500 + square foot family home and move himself and his ailing wife into a senior community.  As you can imagine this was a very difficult and emotional experience for George but he did it!

While I was working with George to sell his Mt Helix home, he and his wife moved to La Vida Real.  This is a senior living community  Rancho San Diego that offers independent living, assisted living, and Alzheimer/Dementia Care.  This move allowed George to share the responsibilty of caring for his wife.  The move to La Vida Real Senior Community also gave George the opportunity to let go of the family home slowing.  At first he would go to Mt Helix every day and wanted to be there for every showing.  Eventually he was able to let go and begin to distance himself from the property.  This gradual seperation was good for George.

When I first met him he was very gruff and one might say unreasonable but as time went by he realized he could trust me and that I had only his best interests in mind.  I did not pressure him or push him to do anything he was uncomfortable with.  I was patient, and in the end I think this made it much easier for him to let go of the family home.

It is easy to forget that real estate is a people business.  George had lived in this home for numerous years, raised his family here, and took pride in this home.  He was definately emotionally tied to it.  I am glad I took the time to be patient and not push him.  In the end I was greatly rewarded with a big hug and tender smile from George.  This is something I will cherish for a long time!

SB 458 Short Sale Law - What does it mean?

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


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

Alpine Housing Market

Here is how the Alpine real estate market looked for the month of March.  This is for single family detached homes only.

There are currently 75 active listings (homes currently on the market); ranging from $164,900 for 1 bedroom, 1 bathroom, 754 square feet to $2,599,500 for 3 bedroom, 3 bathroom, 3000 square feet.

24 properties are pending (currently in escrow.)

18 properties sold (closed escrow); ranging from $199,000 for 0 bedroom, 1 bathroom, 600 square feet to $601,400 for 4 bedroom, 4 bathroom, 3707 square feet.  The average time on the market was 75 days.

More Alpine Real Estate Stats and Graphs

El Cajon Real Estate

Here are the real estate statistics for all three zip codes in El Cajon for the month of November 2010. I have included the active, pending and sold listings for single family detached.

92019 zip code

There are currently 140 active listings in El Cajon (92019), ranging from $175,000 for a 2 bedroom, 2 bath, 1131 square feet to $2,595,000 for a 4 bedroom, 6 bath, 5890 square feet.

37 properties are pending, currently in escrow.
16 properties sold in November, (closed escrow) ranging from $220,000 for 3 bedroom, 2 bathroom, 1224 square feet to $772,580 for 4 bedroom. 4 bathroom, 3702 square feet.


92020 zip code


There are currently 106 active listings in El Cajon (92020), ranging from $150,000 for a 2 bedroom, 1 bath, 816 square feet to $1,195,000 for a 4 bedroom, 5 bath, 3519 square feet.
46 properties are pending, currently in escrow.

21 properties sold in November, (closed escrow) ranging from $235,000 for 3 bedroom, 1 bathroom, 1035 square feet to $1,065,000 for 4 bedroom. 4 bathroom, 3500 square feet.



92021 zip code

There are currently 111 active listings in El Cajon (92021), ranging from $110,000 for a 2 bedroom, 2 bath, 760 square feet to $1,795,000 for a 3 bedroom, 2 bath, 7500 square feet.

46 properties are pending, currently in escrow.

18 properties sold in November, (closed escrow) ranging from $169,000 for 3 bedroom, 1 bathroom, 1230 square feet to $706,000 for 4 bedroom. 3 bathroom, 3223 square feet.


I hope you have a safe and Happy Holiday season.  Please feel free to call me if you need any more information.  Merry Christmas!!









I hope everyone has a very Merry Christmas! Be safe and enjoy.

Jamul Real Estate Stats - October 2010

Today is November 1st so you know what that means...time to see how the real estate market looked for the month of October.  Here is the breakdown for Jamul.

There are currently 45 properties on the market.  Ranging from $250,000 for 3 bedrooms, 2 baths, 1341 square feet to $1,995,000 for 4 bedrooms, 5 baths, 7103 square feet.

There are currently 9 properties pending, which means they are in escrow.

4 properties SOLD in October (closed escrow), ranging from $203,000 for 3 bedroom, 2 bathroom, 1126 square feet to $575,000 for 3 bedroom, 3 bathroom, 2726 square feet.

If you are considering buying or selling a home in Jamul, please feel free to give me a call.  I would be happy to help.

Zillow.com says San Diego home values increase

By Jennifer Davies, UNION-TRIBUNE

Thursday, September 9, 2010 at 11:06 a.m.

San Diego home values increased by 7.8 percent in July — the largest year-over-year appreciation of the 125 metro areas surveyed — says a new report by Zillow.com, a real estate website.
On a monthly basis prices here, inched up just 0.9 percent. Nationally home values declined 0.2 percent from the previous month and were down 3.2 percent from July 2009. Out of 125 metropolitan markets Zillow surveyed, 85 saw negative year-over-year change in home values in July while 13 were flat. Along with San Diego 23 other markets saw a positive annual change. After San Diego, the metro areas with the largest year-over-year increases were Oklahoma City (6.6 percent), San Jose (6.3 percent), San Francisco (6.1 percent), Little Rock (5.8 percent), and Los Angeles (5.7 percent). The areas with the biggest annual declines were Bend (-22.3 percent), Miami-Fort Lauderdale (-16.9 percent), Ocala, Fla. (-16.2 percent), Lakeland, Fla. (-15.3 percent), Grand Junction, Colo. (-13.1 percent), Detroit (-12.9 percent), and Orlando (-12.9 percent).
Note that Zillow.com comes up with its home-value index by looking not only at homes that have sold but also at pending sales as well as homes that are currently not on the market. Some in the real estate industry are critical of the model because they aren’t convinced you can assign a value on a home that isn’t currently on the market.
Locally, the areas with the largest jumps in values were: Del Mar, up 17.1 percent to $1,434,500; Poway, up 13.5 percent to $518,100, and Santee, up 13.2 percent to $340,800. The areas with the largest annual depreciation in July were: Rainbow, down 14.6 percent to $353,900; Rancho Santa Fe down 9.8 percent to $1,918,700; Fairbanks Ranch down 9.5 percent to $2,417,000.

What is Title Insurance?

Title insurance companies, unlike property or medical insurance companies work to eliminate risk before something happens.  Title insurance premiums are paid to identify and eliminate potential claims and risk before they happen.  Medical and homeowner insurance premiums are paid to insure against an unpredictable future event.  Title insurance premium is paid once, during escrow while other types of insurance are paid at regular intervals and are renewed.

The goal of a title company is to conduct a thorough search and evaluation of public records to prevent any future claims.  The experts are trained to identify the rights others may have to your property, such as recorded liens, legal actions, disputed interests, rights of way or other encumbrances on your title.  They should have extensive experience in local Boundary Lines and Easement locations which will enable them to forecast potential obstacles in a transaction. 

There are 2 different types of title companies.  Direct Writers issue their own policy and have reserves set aside to back the policies of title insurance they issue.  Title Agents operate like a direct writer, however they do not issue their own policy of title insurance but rather pay a fee to the direct writer for the right to issue a policy of title insurance.

Jamul Real Estate Report For June 2010

Happy July everyone!  I hope you had a fun and safe 4th of July.  Here are the real estate statistics for Jamul for the month of June.

There are currently 97 Active listings, ranging from $149,900 for a 2 bedroom 1 bath, 906 sqft, extreme fixer to $2,350,000 for a 6 bedroom, 5 bath, 6264 sqft home.

6 properties are pending, currently in escrow.

3 properties sold in June ranging from $360,000 for 3 bedroom, 3 bath, 2292 square foot home to $504,000 for a 3 bedroom, 3 bath, 3065 square foot home.  The average market time was 61 days.

Bank of America Mortgage Principal Reduction Plan

B of A Rolls Out Principal Reduction Plan
This morning executives at Bank of America rolled out their new "Principal Reduction Enhancement" program, which is an earned principal forgiveness plan for borrowers behind on their mortgages and whose loans are at least 20 percent underwater in value.

The plan is in conjunction with the government's Home Affordable Modification Program, but the government's principal reduction plan isn't in place yet.

What makes BofA's plan so proactive is that it employs, "a principal reduction as the first step toward reaching HAMP's affordable payment target of 31 percent of household income when modifying certain NHRP-eligible mortgages - ahead of lowering the interest rate and extending the term." Source: cnbc.com

Jamul Real Estate Stats April 2010

Here they are, the Jamul Real Estate statistics for April 2010...

There are currently 37 Active listings in Jamul, ranging frrom a 3 bedroom, 2 bath, 1196 sqft for $229,500 to a 6 bedroom, 5 bath, 6264 sqft for $2,350,000.

12 properties are pending (currently in escrow.)

14 properties SOLD (closed escrow) in April, ranging from $189,000 for 2 bedroom, 2 bath, 924 sqft to $699,000 for 5 bedroom, 4 bath, 4782 sqft.

There you have it.  If you would like more information or if you are considering selling your home, please feel free to give me a call.

My Own House is in Escrow

I listed my own house on March 9th.  Being that it is in Jamul I expected for it to take a little time to sell, but to my surprise I started to recieve calls for showings immediately.  I received a good offer much quicker than I anticipated.  Today, 10 days later I am opening escrow!  See what can happen when you have a great agent like me!  Just teasing, kind of.  At least now I can focus on packing rather than showings!  Today is a good day.

Jamul Real Estate Stats - Feb 2010

Yes, it's that time again.  Here are the monthly real estate stats for Jamul in February.

There are currently 39 Active listings ranging from $150,000 for a 4 bedroom/2 bath manufactured home to $1,750,000 for a 3 bedroom/3 bath, 4360 sqft home

13 Homes are pending, currently in escrow.

4 Homes sold/closed escrow in February ranging from $251,500 for a 2 bedroom, 1 bath, 984 sqft home to $349,000 for a 3 bedroom, 3 bath, 2247 sqft home.

El Cajon Real Estate, January 2010

Here are the El Cajon real estate stats for January 2010.  This is for single family homes.

Zip 92019
There are currently 69 Active Listings.  Ranging from:  $240,000 for 2 bedroom/1 bath, 1242 sqft to $1,999,000 for 3 bedroom/4 bath, 4702 sqft.

44 properties are currently pending, in escrow.

13 properties SOLD.  Ranging from $280,000 for 3 bedroom/2 bath, 1330sqft to $795,000 for 4 bedroom/4 bath, 3811sqft.


Zip 92020
There are currently 73 Active Listings.  Ranging from: $85,000 for 3 bedroom/2 bath, unknown sqare footage to $1,149,000 for 4 bedroom/5 bath, 3772 sqft.

38 properties are currently pending, in escrow.

17 properties SOLD. Ranging from:  $222,500 for 2 bedroom/1 bath, 884 sqft to $825,000 for 4 bedroom/5 bath, 4615 sqft.

Zip 92021
There are currently 105 Active listings.  Ranging from: $95,000 for 3 bedroom/2 bath, 1200 sqft to $1,795,000 for 3 bedroom/ 2 bath, 7500 sqft.

59 properties are currently pending, in escrow.

21 properties SOLD.  Ranging from:  $27,800 for 3 bedroom/2 bath, 1440 sqft to $480,000 for 3 bedroom/3 bath, 2873 sqft.

So there you have it.  If you would like more information, please feel free to give me a call.

Jamul Real Estate January 2010

Here are the real estate stats for Jamul, January 2010.

There are currently 32 Active listings on the market.  Ranging from $179,900 for a 2 bedroom/1 bath, 906 sqft, extreme fixer to $1,799,000 for 6 bedroom/7 bath, 8300 sqft home.

9 Properties are currently in escrow.

8 Homes SOLD in January.  Ranging from:  $315,000 for a 3 bedroom/2 bath, 1767 sqft home to $775,000 for a 5 bedroom/5 bath, 3500 sqft home.

El Cajon Real Estate - Dec 09

Happy New Year everyone.  I am running a little behind on posting the December sales stats for El Cajon.  Thank you for your patience.  Here they are...

92019

64  Active listings ranging from 2 bedroom/ 1 bath, 984 sqft, for $160,000 to 3 bedroom/4bath, 4702 sqft, for $1,999,000.
37 Pending listings currently in escrow
24 Homes Sold in December ranging from $190,000 for a 2 bedroom/1 bath, 740 sqft to $1,430,000 for a 3 bedroom/4 bath, 5364 sqft home. The average market time was 61 days.


92020

62 Active listings ranging from $175,000 for a 4 bedroom/2 bath, 1152 sqft to $1,149,999 for a 4 bedroom/5 bath, 3772 sqft home.
34 Pending properties are currently in escrow.
23 Homes Sold in December ranging from $110,000 for a 2 bedroom/1bath, 805 sqft home to $690,000 for a 4 bedroom/4 bath, 3600 sqft home.  The average market time was 71 days.


92021

102 Active listings ranging from $100,000 for a 3 bedroom/2 bath, 1200 sqft home to $1,500,000 for a 3 bedroom/2 bath, 2238 sqft home.
58 Pending properties are currently in escrow
25 Homes Sold in December ranging from $150,000 for a 3 bedroom/2 bath, 1062 sqft home to $744,900 for a 4 bedroom/5 bath, 3858 sqft home.  The average market time was 60 days.

Top Reasons Short Sales Fail

When the listing agent and the seller start the process of a short sale, there is no guarantee that the bank will accept the short sale.  Simply because the property is listed on the MLS does not mean the bank is willing to do a short sale or that the offer will be accepted.  So what are the reasons short sales do not go through?

First you need to know what a short sale is.  A short sale is when the lender (bank) who holds the mortgage agrees to accept less than what is owed.  Complicating matters more is that there may both a 1st and 2nd mortgage, in which both lenders must agree to the short sale.  While they are called short sales because banks are agreeing to accept something "short" of the full amount, they are not short in terms of time.  The process can be very lengthy.


Why Banks Reject Short Sales

Offer Price is Too Low

The price at which a property is listed in no way indicates what the bank will accept.  Many agents list the property very low in order to get multiple offers, quickly.  Once the offer is under review by the bank they will do their own appraisal or BPO to determine the value of the property.  If they feel the offer price is too far off the mark, they will reject the short sale offer.

Even if the offer price is close to the appraised value, if the bank feels it would make more by foreclosing on the property they will reject the offer.

Incomplete Packet

When doing a short sale, the seller will be required to submit a financial packet.  Typical items included are W-2 and tax returns for last 2 years, paystubs for last couple of months, bank statement for last 2-3 months, and a financial worksheet showing income versus expenses.  The banks will not review incomplete packets and they are notorious for losing paperwork.  It must be complete with the account numbers on all items.  If the packet is not complete, the short sale could be rejected.


There is NO Hardship

To be included in the packet mentioned above is the hardship letter.  The banks require a reason for considering a short sale.  They will not just write off the debt because the seller decides they don't want to live there anymore.  There needs to be a hardship and a letter explaining why the seller is requesting a short sale.  If there is no hardship for the seller, the short sale can be rejected.

Seller Has Assets

Even if there is a hardship such as a job loss or other factor, if the seller has other assets the bank may want those sold or money brought in by the seller.  If the seller does not agree the lender can reject the short sale.

Lender Sold the Loan

Short sales can take a long time and often times one department of the bank doesn't know what the other is doing.  There are often times when you are in negoitations with the bank's short sale department and suddenly find out the loan has been sold and they no longer hold the asset or have the authority to approve the short sale.  Since they do not own it anymore, they can not approve a short sale on it.


And finally, sometimes there is no reason why.  All we hear is that "investors did not approve".

Weekend Home Improvement Projects

What will you be doing for this long holiday weekend? Maybe this will give you the extra time you need to complete a home improvement project. Here are some ideas of projects that you can complete over the long weekend.

1. Winning Walls: If your house is like mine keeping walls looking great can be a challenge. Between the dust, marks and scuffs they doesn't look fresh. Try taking the dry clothes you use on your floors and "dust" the walls and get those spider webs in the corner. (Halloween is too far away to leave them!) Wipe the outlit covers and light switch plates. Are my hands really that dirty? If you are feeling really motivated, paint a room. Try a new color. Don't be scared. It is only paint and you can paint over it if you don't like it.

2. Remove that wallpaper: Ducks, geese, cactus I am sorry to inform you are no longer in stlye. Get it out of there and paint the walls a nice fresh color. This an easy way to update a space.

3. Drips: This is a biggy. It might not do much to improve the look of your house but it is very important. A drippy faucet can cost you money and waste water. It may be as simple as changing the washer on the tip or maybe you can use it as an excuse to get an updated faucet. Leaks under sinks are even worse. They will destroy the cabinet. It is not glamorous but it should be taken care of. Move the bucket, roll up you sleeves and get to work. (or take the easy way and call the plumber)

4. Kitchen: Want a new kitchen? I do, but unfortunately that is pricey and I can not accomplish in a weekend. If you are looking for a quick update, why not change out the hardware on the cabinets? This can make a big difference. New knobs, hinges and pulls can really update the kitchen.

5. Garage: I do not know why but my garage is always dirty and everything collects there. This may be a good time to install some adjustable wire shelves. Being adjustable will allow changing the configuration as the items I collect changes.

Whatever you decide to do this weekend, have fun and be safe. If you tackle a new project this weekend, send me a before and after photo. Let me know how it goes. Have a great weekend!

Do you know how much your home is worth?

If you are thinking about whether or not to sell your home, your need to know what your home is worth in today's market to make an informed decision. You should determine its value based on comparing it to similar homes that have recently sold in your area. For a free Competitive Market Analysis of your home, feel free to give me a call or shoot me an email. I will need the address, number of bedrooms and baths, square footage, year built, amenities and any upgrades. I will respond with the proper valuation of your home in today's marketplace, so you can make an informed decision.

ALL INFORMATION WILL BE KEPT CONFIDENTIAL.