Archive for April, 2008
San Diego – A Good Long Term Investment?
April 30th, 2008 Categories: Real Estate News
Having worked in real estate and finance for more than 25 years, I’m often asked about the state of the San Diego market. One of the most common questions I hear is: does buying a home in San Diego represent a good long term investment? My answer is always a resounding yes! 
While predicting the future is a craft best left to fortune tellers, real estate professionals are trained to review historical data and help their clients make informed decisions about investment opportunities. The internet offers an overabundance of statistical evidence that supports my position; both local and national trends suggest that real estate is a great, if not the best, long term investment vehicle.
I purchased my first home in San Diego County in 1982. Today that home is worth three times what I paid for it, even accounting for the value lost over the past year in our changing real estate landscape. This is not a unique situation.
Those of us working in the real estate industry can name many other reasons why buying a home in San Diego is a strong long-term investment. Consider factors like tax benefits of interest deductions and depreciation, leverage, cash flow and appreciation of our home values. As professionals, we understand that homeownership enhances not only our lives, but our financial situations as well.
Investor buyers recognize the tremendous opportunities in San Diego and are returning to our market in significant numbers. Smart investors see that the real estate landscape is littered with bank-owned repossessions and homeowners facing short sales, and they are excited by it! Confident that the market is gaining strength and will appreciate over time, investors know that “buying low” and “selling high” is a winning strategy. San Diego’s recovery, just like after the 90’s, will be quicker and faster than almost any other area of the country.
Moreover, interest rates are incredibly low. Anyone who listens to the news is familiar the phrase “historic lows”; you may have even used it in your own conversations. Despite the implosion of the mortgage market, people are still able to buy homes at rates that my father couldn’t even envision. These lower rates add to buying power, increase the affordability of housing and can save you tens of thousands of dollars over the life of a home loan.
Another unique benefit to home ownership is that you can live in your investment. And who can imagine a better place to live than San Diego? We live in a paradise with perfect weather and geographical boundaries that naturally limit our growth, thus making San Diego even more coveted. Every year we have a net gain of thousands of people moving here from all over the world, and buying Real Estate. Home prices have no place to go but up!
Do I believe that real estate in San Diego County is a good long term investment? My answer remains a resounding yes!
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Another Neighborhood Garage Sale In Brookside
April 26th, 2008 Categories: Brookside Escondido, Escondido, Real Estate News
Gee whiz…we’re having another community garage sale here in Brookside. Excuse me if I don’t seem too excited, it’s just that this has been going on twice a year each of the four years I’ve lived here. 
The first year we did this in Brookside, I thought it was a great idea (even though the founder and coordinator of this event is another local REALTOR team), but as the years have gone by and we are now on garage sale #9, I’m thinking this isn’t the greatest thing for our neighborhood.
You see, Brookside is a relatively small gated community of about 260 homes in North Escondido. When I bought my house here in 2003, brand new and all mine to put my personal stamp on, I was incredibly happy that we had the gates…not just anyone could enter our beautiful oasis.
It isn’t because I’m jealous of the benefits or recognition our fellow REALTOR gets out of this; it’s more because of the concern I have from all the traffic and disorganized chaos that occurs for six hours on our quiet streets. 
Even though it’s advertised in local newspapers to start at 8am, the professional G’salers are patrolling our streets with their pickups, flat-bed trucks, station wagons and anything else they can cram used items into while looking to get “first dibs” when the garage doors start ascending!
On many occasions in years past, when I had to get up early on my Saturday morning to dig up some useless items that have taking up space in my garage, I’ve practically been assaulted by these mad dogs on a mission for the latest used sofa. But what bugs me the most is that these folks get lots of time to peer into my garage or back yard and see what other “goodies” I may have….and this makes me uncomfortable. Call me paranoid, but you should see some of these folks.
My brother lives in another gated community in Rancho Bernardo, and I asked him what he thought about our Real Estate team sponsoring a garage sale in his gated neighborhood. He told me he would use another REALTOR to sell his home if I did!
As a former block captain I have heard about events that I don’t want going on in here. I think tomorrow I’m going to go around to all the neighbors and distribute our flyers and inform people they need to read my blog. I’m going to boycott the garage sale and keep my place buttoned up tight! That way I can sleep in and not worry about a potential burgler posing as a G’saler casing my personal abode!
[youtube]http://youtube.com/watch?v=kv7solWrsTw[/youtube]
And if any of you are a garage sale addict, I’m sorry if I’ve offended you as this was not my intention. I just think our development should graduate to individual garage sale status when somebody needs to have one, not the twice a year event it is now.
p.s. – If anyone is in the market for a slightly used bike that I rarely rode or a perfectly functioning 8 track stereo player, give me a jingle and I’ll make you a great deal!
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Seeing The Big Picture In Today’s Real Estate Market
April 23rd, 2008 Categories: Del Sur, Real Estate News
Real Estate news. All of us are reading the newspapers, magazines, blogs, the internet and watching TV. They have all been telling us about the doom and gloom of what is happening with the real estate market. What they are not saying is many regional markets are still experiencing a large volume of homes under contract. They are reporting on closings, but not on the “pending” sales that will be closing in six to eight weeks. It is actually the pending sales that really shows you what is happening in the real estate market place.
Again it’s price, condition of the home and location of the house that is the large factor in pending sales. Here are some examples of what is happening in Coastal San Diego single family homes arena. 
Carlsbad 118 Pending Sales Price Range: $443,900 to $1,700,000
Encinitas 51 Pending Sales Price Range: $500,000 to $2,100,000
Oceanside 225 Pending Sales Price Range: $200,000 to $1,000,000
San Marcos 135 Pending Sales Price Range: $249,000 to $1,300,000
Vista 111 Pending Sales Price Range: $239,000 to $1,300,000
Del Mar 15 Pending Sales Price Range: $869,000 to $3,100,000
Solana Beach 16 Pending Sales Price Range: $815,000 to $1,900,000
Carmel Valley 59 Pending Sales Price Range: $575,000 to $3,900,000
So it’s obvious that we have buyers out there. With interest rates still at an all time low and the new HUD conforming loan limits increase that raises the San Diego – Carlsbad – San Marcos metro area to $697,500, we can expect more activity to come. Borrowers in high cost areas who previously had no recourse except high-cost jumbo loans now have more options. Those with existing high cost loans now can refinance into lower interest rates.
Courtesy of Linda B. Schecner, Realtor with Windermere Exclusive Properties.
If you’ve been sitting on the fence, it’s time to get in the game! For more information please be sure to contact us.
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Sue Johnson Sells Vallecito Ridge In San Marcos
April 17th, 2008 Categories: Real Estate News
Sue Johnson just closed another escrow in Vallecito Ridge, the beautiful gated community in San Marcos built by KHovenian. The great thing about this sale is that it shows that a home can be sold at a fair price and not be a foreclosure property or short sale. This home sold for $465,000….the highest price in the development for a resale property in 2008!
This turn-key home excited us with the many designer upgrades and amenities that it had to offer! Things like upgraded Cherrywood floors and new carpeting, custom designer paint throughout with elegant window coverings. The kitchen was dreamy…with tons of beautiful cabinetry, Silestone counters, and upgraded stainless steel appliances.
The new owner is very excited as the home sits on a fully landscaped and private lot. They look forward to barbecues and get-togethers on the large colored and stamped concrete patio, relaxing to the soothing waterfall.
If you or someone you know is interested in living in Vallecito Ridge, or if you’re a homeowner who needs to sell and get the best price for your home, contact us and we’ll be glad to helpl!
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