I had been working a short sale for a couple of months and things were going smoothly. We received approval from the lender and we were ready to open escrow. I contacted the buyer's agent to let him know the good news and it appeared we were ready to go. Well, just a day later the buyer had a heart attack and of course the family's main focus was on his recovery and he was in no position to continue with the purchase.
That is one thing about real estate, you can never count on things going as planned. So, here is an opportunity for a buyer to step in an buy this short sale. Since the bank had previously approved it, we should be able to get another approval relatively quickly. If you or someone you know wants to buy a large, 3 bedroom condo, please let me know.
For Sale: 3BR/3BA Condo in El Cajon, CA, $195,000
Monday, April 25, 2011
Wednesday, April 20, 2011
Back on the Market
Take a look at this great home for sale in Rancho San Diego. This home is in great condition and will not last long. Please call me if you or someone you know would like to see this home.
Rancho San Diego Home For Sale
Rancho San Diego Home For Sale
Monday, April 18, 2011
Friday, April 8, 2011
Home Buyers and the Possible Government Shutdown
If you are buying a home, you may be asking yourself how the looming government shutdown can affect you. While the impact of the shutdown is still somewhat unclear here is some information to help you determine where you stand.
FHA loans will be affected by a shutdown. They will not be able to offer any new endorsements for any new loans in the Single Family Program. They will be able to continue to pay claims and collect premiums but they will not be endorsing new loans. If you are currently in escrow or your offer is accepted while the government is shutdown this will cause a delay in getting your loan funded until the shutdown ends.
VA loans will not be affected.
Rural Housing Programs will be affected. They will not be able to issue conditional commitments, loan note guarantees, or modifications of approval. This will delay your loan processing until the shutdown ends. If you have already started the process and have received these items, your loan should be able to close as scheduled.
Making Home Affordable programs; including HAMP and HAFA, SHOULD not be impacted. These programs were funded through the Emergency Economic Stabilization Act which is mandatory spending not discretionary and it is the discretionary funding that will not be issued during a shutdown.
If you are currently in escrow or enter escrow during a shutdown, make sure you check with your lender to find out exactly how your loan will be affected. In a "typical" transaction in California you have 17 days to do your inspections, appraisals and such. At the end of the 17 days you MAY be required to remove all your contingencies including your loan contingency. You need to make sure you will be able to get your loan funded during this time. If you try and cancel your escrow after this, you risk losing your deposit so make sure you will be able to get your loan.
FHA loans will be affected by a shutdown. They will not be able to offer any new endorsements for any new loans in the Single Family Program. They will be able to continue to pay claims and collect premiums but they will not be endorsing new loans. If you are currently in escrow or your offer is accepted while the government is shutdown this will cause a delay in getting your loan funded until the shutdown ends.
VA loans will not be affected.
Rural Housing Programs will be affected. They will not be able to issue conditional commitments, loan note guarantees, or modifications of approval. This will delay your loan processing until the shutdown ends. If you have already started the process and have received these items, your loan should be able to close as scheduled.
Making Home Affordable programs; including HAMP and HAFA, SHOULD not be impacted. These programs were funded through the Emergency Economic Stabilization Act which is mandatory spending not discretionary and it is the discretionary funding that will not be issued during a shutdown.
If you are currently in escrow or enter escrow during a shutdown, make sure you check with your lender to find out exactly how your loan will be affected. In a "typical" transaction in California you have 17 days to do your inspections, appraisals and such. At the end of the 17 days you MAY be required to remove all your contingencies including your loan contingency. You need to make sure you will be able to get your loan funded during this time. If you try and cancel your escrow after this, you risk losing your deposit so make sure you will be able to get your loan.
Friday, April 1, 2011
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
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 Housing Market
Here are the real estate statistics for the 3 zip codes of El Cajon. I have included single family detached homes only. This is for the month of march 2011.
92019
There are currently 121 active listings (currently on the market); ranging from $199,900 for 4 bedroom, 3 bathroom, 1522 square feet to $2,250,000 for 3 bedroom, 3 bathroom, 4445 square feet.
49 properties are pending (currently in escrow).
24 properties sold (closed escrow); ranging from $215,000 for 3 bedroom, 1 bathroom, 1036 square feet to $615,000 for 4 bedroom, 3 bathroom, 2372 square feet. The average time on the market was 66 days.
92020
There are currently 100 active listings; ranging from $140,000 for 2 bedroom, 1 bathroom, 816 square feet to $1,025,000 for 4 bedroom, 5 bathroom, 3519 square feet.
51 properties are pending (in escrow)
22 properties sold; ranging from $180,000 for 2 bedroom, 1 bathroom, 800 square feet to $905,000 for 4 bedroom, 5 bathroom, 4147 square feet. The average time on the market was 77 days.
92021
There are currently 123 active listings; ranging from $128,900 for 3 bedroom, 2 bathroom, 979 square feet to $999,900 for 5 bedroom, 4 bathroom, 6229 square feet.
49 properties are currently in escrow.
25 properties sold (closed escrow) in March; ranging from $195,000 for 3 bedroom, 1 bathroom, 1112 square feet to $575,000 for 4 bedroom, 2 bathroom, 2143 square feet. The average time on the market was 66 days.
More El Cajon Statistics and Graphs
92019
There are currently 121 active listings (currently on the market); ranging from $199,900 for 4 bedroom, 3 bathroom, 1522 square feet to $2,250,000 for 3 bedroom, 3 bathroom, 4445 square feet.
49 properties are pending (currently in escrow).
24 properties sold (closed escrow); ranging from $215,000 for 3 bedroom, 1 bathroom, 1036 square feet to $615,000 for 4 bedroom, 3 bathroom, 2372 square feet. The average time on the market was 66 days.
92020
There are currently 100 active listings; ranging from $140,000 for 2 bedroom, 1 bathroom, 816 square feet to $1,025,000 for 4 bedroom, 5 bathroom, 3519 square feet.
51 properties are pending (in escrow)
22 properties sold; ranging from $180,000 for 2 bedroom, 1 bathroom, 800 square feet to $905,000 for 4 bedroom, 5 bathroom, 4147 square feet. The average time on the market was 77 days.
92021
There are currently 123 active listings; ranging from $128,900 for 3 bedroom, 2 bathroom, 979 square feet to $999,900 for 5 bedroom, 4 bathroom, 6229 square feet.
49 properties are currently in escrow.
25 properties sold (closed escrow) in March; ranging from $195,000 for 3 bedroom, 1 bathroom, 1112 square feet to $575,000 for 4 bedroom, 2 bathroom, 2143 square feet. The average time on the market was 66 days.
More El Cajon Statistics and Graphs
Jamul Housing Market
This is no Aprils Fool's. Here are the real estate market statistics for Jamul for the month of March.
There are 39 Active Listings (homes currently on the market); ranging from $159,000 for 2 bedroom, 2 bath, 1223 square feet to $1,930,000 for 4 bedroom, 5 bathroom, 4502 square feet.
12 properties are pending, (currently in escrow).
14 properties sold in March (closed escrow); ranging from $285,000 for 3 bedrooms, 2 bathrooms, 1480 square feet to $700,000 for a 5 bedroom, 4 bathroom, 4029 square feet. The average days on the market was 55 days.
More Jamul Stats and Graphs
There are 39 Active Listings (homes currently on the market); ranging from $159,000 for 2 bedroom, 2 bath, 1223 square feet to $1,930,000 for 4 bedroom, 5 bathroom, 4502 square feet.
12 properties are pending, (currently in escrow).
14 properties sold in March (closed escrow); ranging from $285,000 for 3 bedrooms, 2 bathrooms, 1480 square feet to $700,000 for a 5 bedroom, 4 bathroom, 4029 square feet. The average days on the market was 55 days.
More Jamul Stats and Graphs
Friday, March 25, 2011
Tips to Sell
I have been taking clients out to view a lot of properties recently and I would like to share with you a couple of mistakes sellers often make. These are simple things you should avoid if you want to sell your home.
1. Open the curtains and let some light in! When it is bright and sunny out and we walk into some of these homes it is like entering a cave. We step in and have to blink a few times to let our eyes adjust and then feel around a wall looking for a light switch. This is a definite turnoff. Open the blinds or curtains and let the light in. Buyers are there because they want to see the house and humans were not born with night vision.
2. Leave the bedroom and bathroom doors open. When buyers are going though an occupied house it can make them feel like they are intruding. A closed door often makes them question if someone is there and they are going to walk in on someone sleeping. I usually go first and knock on the door before opening but even this makes some buyers feel uncomfortable. Remember you want to make the potential buyer feel as comfortable as possible.
3. Make the property as easy to see as possible. Right now there is a glut of inventory and much of this is vacant so a buyer can view immediately. Buyers are becoming accustomed to viewing a property whenever they can. If you only allow showings the third Tuesday of the month at noon, with 5 days notice, you are not going to get much action. I understand that having strangers tromp through you home can be an inconvenience but you have to remember the goal is to sell the house. Yes it can be a pain when people want to see the property at dinner time but let’s face it that is when many buyers are off work and have the time to view properties. The best solution is to have showings with one hour notice within daylight times. Have the buyer's agent call the house an hour ahead, leave a message and be able to go without directly speaking with you, therefore avoiding the telephone tag game. When you get home from work you can check the messages to know if someone is expected.
4. The last tip I am sharing today is to remove as much clutter as you can and minimize your furniture. I have shown properties that are inches away from being featured on the show "Hoarders" and these are regular folks. Clothes should be put away, not strewn on the floors. Buyers want to see the floor covering. Closet doors should be able to close. There should be more than a path through the living room and move whatever piece you placed in front of the fireplace. You might know there is one there but the buyers don't unless they can see it. Counter tops should be cleared so we can see what it is made out of.
Bottom line is you need to make the property as open and bright as possible. You want it to appear fresh and clean. Make the home feel spacious and inviting for potential buyers. In the end you will benefit from the extra effort by having your home stand out in a good way to potential buyers.
1. Open the curtains and let some light in! When it is bright and sunny out and we walk into some of these homes it is like entering a cave. We step in and have to blink a few times to let our eyes adjust and then feel around a wall looking for a light switch. This is a definite turnoff. Open the blinds or curtains and let the light in. Buyers are there because they want to see the house and humans were not born with night vision.
2. Leave the bedroom and bathroom doors open. When buyers are going though an occupied house it can make them feel like they are intruding. A closed door often makes them question if someone is there and they are going to walk in on someone sleeping. I usually go first and knock on the door before opening but even this makes some buyers feel uncomfortable. Remember you want to make the potential buyer feel as comfortable as possible.
3. Make the property as easy to see as possible. Right now there is a glut of inventory and much of this is vacant so a buyer can view immediately. Buyers are becoming accustomed to viewing a property whenever they can. If you only allow showings the third Tuesday of the month at noon, with 5 days notice, you are not going to get much action. I understand that having strangers tromp through you home can be an inconvenience but you have to remember the goal is to sell the house. Yes it can be a pain when people want to see the property at dinner time but let’s face it that is when many buyers are off work and have the time to view properties. The best solution is to have showings with one hour notice within daylight times. Have the buyer's agent call the house an hour ahead, leave a message and be able to go without directly speaking with you, therefore avoiding the telephone tag game. When you get home from work you can check the messages to know if someone is expected.
4. The last tip I am sharing today is to remove as much clutter as you can and minimize your furniture. I have shown properties that are inches away from being featured on the show "Hoarders" and these are regular folks. Clothes should be put away, not strewn on the floors. Buyers want to see the floor covering. Closet doors should be able to close. There should be more than a path through the living room and move whatever piece you placed in front of the fireplace. You might know there is one there but the buyers don't unless they can see it. Counter tops should be cleared so we can see what it is made out of.
Bottom line is you need to make the property as open and bright as possible. You want it to appear fresh and clean. Make the home feel spacious and inviting for potential buyers. In the end you will benefit from the extra effort by having your home stand out in a good way to potential buyers.
Tuesday, March 15, 2011
Thursday, March 3, 2011
Tuesday, March 1, 2011
El Cajon Market Report - February 2011
Here are the real estate statistics for the 3 zip codes in El Cajon. This report includes single family detached homes only.
92019
There are currently 130 active listings: ranging from $178,500 for 3 bedroom, 2 bathroom, 1116 square feet to $2,250,000 for 3 bedroom, 3 bathroom, 4445 square feet.
44 properties are pending (currently in escrow).
23 properties sold (closed escrow): ranging from $175,000 for 2 bedrooms, 2 bathrooms, 1131 square feet to $891,500 for 4 bedrooms, 4 bathrooms, 3066 square feet. The average market time was 61 days.
92020
There are currently 105 active listings: ranging from $150,000 for 2 bedroom, 1 bathroom, 754 square feet to $1,025,000 for 4 bedroom, 5 bathroom, 3519 square feet.
44 properties are pending (currently in escrow).
19 properties sold (closed escrow): ranging from $185,000 for 2 bedrooms, 1 bathrooms, 786
square feet to $728,000 for 5 bedrooms, 4 bathrooms, 3575 square feet. The average market
time was 69 days.
92021
There are currently 128,000 active listings: ranging from $1134,900for 3 bedroom, 2 bathroom, 979 square feet to $999,900 for 5 bedroom, 4 bathroom, 6229 square feet.
47 properties are pending (currently in escrow).
11 properties sold (closed escrow): ranging from $209,000 for 3 bedrooms, 2 bathrooms, 1382 square feet to $437,000 for 4 bedrooms, 3 bathrooms, 2418 square feet. The average market time was 64 days.
92019
There are currently 130 active listings: ranging from $178,500 for 3 bedroom, 2 bathroom, 1116 square feet to $2,250,000 for 3 bedroom, 3 bathroom, 4445 square feet.
44 properties are pending (currently in escrow).
23 properties sold (closed escrow): ranging from $175,000 for 2 bedrooms, 2 bathrooms, 1131 square feet to $891,500 for 4 bedrooms, 4 bathrooms, 3066 square feet. The average market time was 61 days.
92020
There are currently 105 active listings: ranging from $150,000 for 2 bedroom, 1 bathroom, 754 square feet to $1,025,000 for 4 bedroom, 5 bathroom, 3519 square feet.
44 properties are pending (currently in escrow).
19 properties sold (closed escrow): ranging from $185,000 for 2 bedrooms, 1 bathrooms, 786
square feet to $728,000 for 5 bedrooms, 4 bathrooms, 3575 square feet. The average market
time was 69 days.
92021
There are currently 128,000 active listings: ranging from $1134,900for 3 bedroom, 2 bathroom, 979 square feet to $999,900 for 5 bedroom, 4 bathroom, 6229 square feet.
47 properties are pending (currently in escrow).
11 properties sold (closed escrow): ranging from $209,000 for 3 bedrooms, 2 bathrooms, 1382 square feet to $437,000 for 4 bedrooms, 3 bathrooms, 2418 square feet. The average market time was 64 days.
Jamul Real Estate Market Report
It's that time again! Here are the real estate statistics for Jamul for the month of February 2011.
There are currently 46 active listings: ranging from $159,000 for 2 bedrooms, 2 baths, 1223 square feet to $2,350,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
13 properties are pending (currently in escrow).
6 properties sold (closed escrow): ranging from $186,000 for 2 bedrooms, 1 bathroom, 876 square feet to $819,000 for 4 bedrooms, 4 bathrooms, 3350 square feet.
If you would like more information regarding these properties or if you would like me to check another area, please feel free to give me a call.
There are currently 46 active listings: ranging from $159,000 for 2 bedrooms, 2 baths, 1223 square feet to $2,350,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
13 properties are pending (currently in escrow).
6 properties sold (closed escrow): ranging from $186,000 for 2 bedrooms, 1 bathroom, 876 square feet to $819,000 for 4 bedrooms, 4 bathrooms, 3350 square feet.
If you would like more information regarding these properties or if you would like me to check another area, please feel free to give me a call.
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