Palo Verde Ranch - Alpine

I recently spent the day at the lake in Pala Verde Ranch Development in Alpine. This was not the first time I had been. My daughters have had soccer parties and get togethers there before. But this time it struck me that many people who live in San Diego may not even be aware it exists. For residents of the "Ranch" this private lake is a great perk to buying a home in this development. It has everything to make for a great family outing. The water is warm and fresh. There are docks to swim out to, and it it not crowded. Residents and their guests can relax in the sun or shade, eat lunch at the picnic table or play volley ball on the sand court. There is a outside kitchen available with a refrigerator to keep your salads cold. Some residents have their canoes or small fishing boats docked there. What a great way to spend a summer day!

30-Year Mortgage Rates Rise Again

Freddie Mac reports a more than 0.25-percentage point gain in the 30-year fixed mortgage rate to 6.63 percent during the week ended July 24 from the prior week, marking the highest level since it reached 6.68 percent last August.

The 15-year fixed mortgage rate also increased, climbing to 6.18 percent from 5.78 percent.

Meanwhile, the five-year hybrid adjustable mortgage rate rose to 6.16 percent from 5.80 percent; and the one-year ARM surged to 5.49 percent from 5.10 percent.

Freddie Mac chief economist Frank Nothaft attributes the jump to "market concerns about rising inflation, further weakness in the housing market and greater probability that the Federal Reserve will raise short-term rates this year."

Source: Wall Street Journal (07/25/08)

Buyers What Are You Waiting For?

I read this today and felt very sad. Many home buyers are sitting on the fence waiting for the "bottom". But what they don't realize is the rise in interest rates will have a much bigger impact on their monthly payment. Buyers, if you are considering buying in the near future, do it now. There are great prices on properties and many properties to choose from. Don't wait for interest rates to go up further and put homebuying out of your reach.



Loan Applications Fall as Mortgage Rates Rise

As mortgage rates neared their highest level in a year, loan applications fell 6.2 percent on a seasonally adjusted basis to 489.6 from 522.2 the previous week, according to the Mortgage Bankers Association weekly survey.

On an unadjusted basis, the index decreased 6.1 percent from the previous week and was down 19.6 percent compared with the same week a year ago.

The refinance index decreased 5.6 percent and the seasonally adjusted purchase index declined 6.7 percent.

Mortgage rates generally rose:
30-year fixed-rate mortgages increased to 6.59 percent from 6.22 percent
15-year fixed-rate mortgages increased to 6.10 percent from 5.74 percent
1-year ARMs remained unchanged at 7.16 percent

Source: Mortgage Bankers Association (07/23/2008)

Olympic Schedule

I have mailed out the schedule for the upcoming Olympic games. If you have not received one give me a call and I will get it out in the mail to you immediately. The games begin on Friday August 8th with the opening ceremony. I have been watching the trials and I am already getting wrapped up in the stories of the athletes. Call if you need a schedule!

New Listing

Have you seen this great property? Call me for more information!

San Diego Fireworks

Here is a list of the 2008 Fireworks. Please let me know if I have missed any. Enjoy and have a fun and safe 4th of July!


CENTRAL SAN DIEGO

California Fireworks Cruise (Maritime Museum of San Diego): 6:30 to 10 p.m. $65; available to ages 7 and up. Check-in is at 6:15 p.m. (619) 234-9153.

Embarcadero Marina Park South: 7:30 p.m. Fireworks are presented to synchronized classical music. $15-$75. (619) 235-0804.

Fireworks Cruise by the Bay: 7 p.m. Hornblower Cruises & Events presents this event, which features food and music. Boarding time starts at 6:30 p.m. $71.40 for children 4-12; $119.00 for ages 13 and over. (800) 668-4322.

Glorietta Bay (Coronado): 9 p.m. Daylong festivities include a half-marathon, rough water swim, Art in the Park and live music. The annual Independence Day Parade takes place at 10 a.m. (619) 437-8788.La Jolla Cove: 9 p.m. (858) 454-1444.

Mira Mesa Recreation Center: 9 p.m. Celebration begins at 12 a.m. with a parade, followed by food, rides, games and entertainment in Mira Mesa Community Park. (858) 538-8122.

Mission Bay Yacht Club: 9 p.m. (858) 488-0501.

Ocean Beach Pier: 9 p.m. (619) 226-8613.

Paradise Point Resort and Spa: 9 p.m. Fireworks follow an All-American Barbecue that starts at 6 p.m. ($72 for adults; $29 for children younger than 12). (858) 274-4630.

San Diego Bay: 9 p.m. (858) 751-5755.SeaWorld: 9:30 p.m. $47-$57; parking is $10. Viewing also available along Crown Point. (800) 25-SHAMU.

EAST COUNTY

Town Center Community Park Ballfields (Santee): 9 p.m. (619) 258-4100, ext. 201.

Spring Valley Park: 9 p.m. (619) 479-1832.

NORTH COUNTY

Bradley Park (San Marcos): 9 p.m. Food and music are part of the celebration earlier in the day. Amazing Dana the Magician will perform at 6 and 7:30 p.m. (760) 744-9000 or ci.san-marcos.ca.us.

Brengle Terrace Park (Vista): 9 p.m. Daylong festivities include food, live entertainment and children's games. (760) 726-1340, ext. 1574.

Del Mar Beach (Camp Pendleton): 9 p.m. Daylong activities include music, food and games. (760) 725-2134 or mccscp.com.

Grape Day Park (Escondido): 9 p.m. Afternoon festivities, including game and food booths, music and entertainment for all ages. (760) 745-1159.

Julian: No fireworks. All-day Fridays festivities, beginning at 10 a.m., include a gunfight on Main Street, flyovers by World War II aircraft, a parade at noon, horses, a quilt show and a deep-pit barbecue. (760) 765-1857.

Legoland: 8:30 p.m. Regular park admission applies, though non-park guests are welcome to view fireworks from the parking lot for $2 after 7 p.m. $49.95-$59.95. (760) 918-5346.

Oceanside Pier: 9 p.m. The O'Fest Carnival on the strand includes a lineup of live music at the Oceanside Pier Amphitheater, 2 to 9 p.m. (760) 754-4512 or msoceanside.com.

Olive Pierce Middle School (Ramona): 9 p.m. Grounds open at 5 p.m. for town picnic including food booths and games for the whole family. 760-789-1311.

San Diego County Fair (Del Mar Fairgrounds): 9 p.m. A 7:30 p.m. performance by the Navy Band Southwest will be followed by fireworks and a concert by KC & the Sunshine Band. The show is free with fair admission for unreserved seats on the third and fifth levels, and for the standing area in front of the stage. $6-$12; parking is $9. (858) 755-1161.

SOUTH BAY

Kimball Park (National City): 9 p.m. The National City Community Concert Band will play during the fireworks. Carnival rides, games and food booths will be open at various times from July 2-6. A parade will be held July 5 at 6 p.m. (619) 336-4290.

Listings compiled by Gwen Jackson, Jason Ilgenfritz and Marcia Manna, Union-Tribune

More To Do This Summer

1. Stomp grapes at Orfila Vineyards & Winery (760) 738-6500

2. Hike or Bike Mule Hill at San Pasqual Valley Trail (858) 674-2270

3. Discover the Quail Botanical Garden in Encinitas (760) 436-3036

4. Visit the Chula Vista Nature Center www.chulavistanaturecenter.org
(619) 409-5900

5. Take a hike on oeceanview trails at Torrey Pines State Park (858) 755-2063

6. Enjoy a concert at Humphrey's on the Bay on Shelter Island
www.humphreysconcerts.com (619) 224-3577

7. Listen to live music at the Belly Up Tavern in Solana Beach
www.bellyuptavern.com (858) 481-9022

8. Take a tour of the Hotel Del Coronado (619) 435-7242

9. Go camping at Palomar Mountain State Park (800) 444-7275 reservations
(760) 742-3462 information

10. Hey Dude, admire the surf boards at California Surf Museum www.surfmuseum.org(858) 721-6876

11. Go Whale Watching with Morning Star Charters (619) 296-4052

12. Get a double decker bus tour of our city (619) 296-2400

Things to do in San Diego

Here are some fun things to do with the family this summer. Do you have something to add to this list? Send me your ideas.

1. Gather up the kids and go to the Children's Museum (619) 233-8792
2. Go wild at the San Diego Zoo (619) 234-3153
3. Enjoy the Stephen Birch Aquarium Museum (858) 534-3474
4. Visit your favorite orca at Sea World www.seaworld.com
5. Get soaked at Knott's Soak City (858) 674-2270
6. Build something great at Legoland www.lego.com
7. Check out the "new" ballpark and support the Padres (619) 795-5000
8. Have a ball at a Chargers game (858) 874-4500
9. Go on Safari at the Wild Animal Park (619) 231-1515
10. Find your inner scientist at the Rueban H Fleet Science Center (619) 238-1233
11. Satisfy your need for speed at Miramar Speed Circuit (858) 586-7500
12. Experiment at San Diego's Children Museum (760) 720-0737
13. Hurry, don't forget the San Diego Fair www.sdfair.com
14. Have a picnic at San Dieguito Park (858) 565-3600
15. Go old school at the San Diego Natural History Museum (619) 232-3821
16. Go for a ride at Belmont Park in Mission Beach (858) 228-9283

This is just a start of fun things to do this summer. More will be added to this list. Have a great summer!

Real Estate Sales on the Rise

Many buyers are getting off the fence, feeling that this is the "bottom". If you are considering buying a home, don't wait until interest rates go up again. Great properties are getting multiple offers and moving quickly. Call me and I will help you take advantage of this great market.

Daily Real Estate News | June 19, 2008
Calif.: Sales Rise as Home Prices Bottom

As foreclosures push down California housing prices, first-time home buyers surge into the market.

The California median home price fell 30 percent in May, the sharpest decline in 20 years, since DataQuick Information Systems began keeping records.

The drop in home prices has sparked a home-buying rally that's beginning to reverse more than two years of monthly year-over-year sales declines.

"Inland markets hit hardest by foreclosures and falling prices are now the most likely to post higher sales than last year," says Andrew LePage, a DataQuick analyst. "These communities have been attracting first-time buyers, first-time move-up buyers and investors."

Richard Cosner, president of Prudential California Realty, says buyers of homes whose prices have declined in the last 18 months from $400,000 to $200,000 must compete with multiple bidders.

"For the first-time homebuyers and for that bottom tier of homes, we've found what the bottom of the pricing is," Cosner says.

Source: The Associated Press, Alex Veiga (06/18/2008)

Mortgage Interest Rates Are On The Rise

Mortgage rates rise to 10-month high
By Holden Lewis • Bankrate.com


Those low mortgage rates were fun while they lasted.


Mortgage rates went up for the fourth week in a row and have risen well over half a percentage point in the last month. The 30-year fixed is at its highest point in 10 months.

The benchmark 30-year fixed-rate mortgage rose 10 basis points, to 6.62 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.39 discount and origination points. One year ago, the mortgage index was 6.76 percent; four weeks ago, it was 6.02 percent.

The benchmark 15-year fixed-rate mortgage rose 8 basis points, to 6.2 percent, and the 30-year jumbo went up 11 basis points, to 7.71 percent. The benchmark 5/1 adjustable-rate mortgage rose 17 basis points, to 6.24 percent.


Weekly national mortgage survey


Results of Bankrate.com's June 18, 2008, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:

30-year fixed 15-yearfixed 5-year ARM
This week's rate: 6.62% 6.20% 6.24%
Change from last week: +0.10 +0.08 +0.17
Monthly payment: $1,055.97 $1,410.26 $1,014.86
Change from last week: +$10.89 +$4.18 +$18.16

This is the highest rate for the 30-year fixed since Bankrate's Aug. 15 survey, when it was 6.68 percent.

Just five months ago, in the middle of January, the 30-year fixed was 5.57 percent. It has gone up more than a percentage point since then.

Inflation and credit move the needle
Many factors govern mortgage rates, and two of those factors are inflation and credit quality. Both are pushing rates higher. Most consumers are aware that prices are rising, even if the government says inflation is still relatively low. That's the inflation factor.

And millions of homeowners are behind on their mortgage payments, or their homes are in foreclosure. That's the credit-quality factor.

Mix inflation with a foreclosure wave, and you get higher mortgage rates, with lenders reluctant to lend.

It reminds Daniel Pantoja, a manager for Advent Mortgage, in Louisville, Ky., of the 1970s, "when people couldn't afford to buy a house because of where rates were at, and there were economic issues, with inflation, rising rates and high fuel prices."


One big difference is that mortgage rates were much higher in the late 1970s, topping 18 percent. Back then, high rates kept people from borrowing; now, strict lending standards make it hard to qualify for a mortgage.

"Now banks don't want to do mortgages," says Alan Rosenbaum, president of GuardHill Financial, a mortgage brokerage in New York City. "That's pulling our economy deeper and deeper into recession."

Rate rise on the horizon?
The Federal Reserve's rate policy panel meets next week, and is expected to keep short-term rates unchanged. But some Fed members have begun to talk of the imperative to fight inflation -- implying that the central bank might raise short-term rates sometime this year.

"I think that's a mistake," Rosenbaum says. "Yes, there's inflation -- but there's also recession here. Raising interest rates is not going to promote people into spending more money."

There's another way of looking at it: A Fed rate hike this summer or fall might be seen as anti-inflationary, which could cause long-term mortgage rates to fall. Short-term and long-term rates don't always move in the same direction.

Pantoja isn't yet advocating for a Fed rate hike, but he doesn't mind when Fed officials jawbone about the perils of inflation. A few days of that, he says, might send mortgage rates lower.

Bankrate.com's corrections policy -- Posted: June 12, 2008

What are you doing this summer?

Okay, the girls are bored and I am out of ideas. Lets come up with some fun things to do and share them. What are your fun, go-to-ideas? Let's try to keep it fairly inexpensive and unique. Send me your ideas and I will post them here. Try to keep it local to the San Diego Area. Let's have FUN!

SD United Woman's Soccer Schedule

JUN. 15 Sunday La Rampage * Granada Hills 6PM
Jun. 21 Saturday San Diego Sea Lions Cathedral High TBD
JUN. 22 SUNDAY CLAREMONT STARS* Valhalla Stadium 4PM
Jun. 28 SUNDAY WEST COAST FC Valhalla Stadium 6PM
Jun. 29 Sunday OPEN
JUL. 5 SATURDAY MONTEREY Valhalla Stadium 6PM
JUL. 6 SUNDAY S.F. NIGHTHAWKS Valhalla Stadium 4PM
Jul. 12 Saturday West Coast FC TBD TBD
Jul. 13 SUNDAY LA RAMPAGE * Valhalla Stadium 4PM
Jul. 19 Saturday Conference Playoffs 1st RD TBD TBD
Jul. 20 Sunday Conference Playoffs Final TBD TBD
Jul. 26 Saturday WPSL Final 4 Sacramento TBD
Jul. 27 Sunday WPSL Championship Sacramento TBD