Archive for February, 2009
FHA, FNMA, and FHLMC Loan Limits In San Diego Returned To $697,500!
February 27th, 2009 Categories: Escondido, Mortgage News
Well, it looks like the “new and improved” stimulus bill will have an immediate effect on mortgages. Fannie Mae (FNMA), Freddie Mac (FHLMC), and the Federal Housing Administration (FHA) have announced that they are reinstating last year’s high balance conforming loan limits.
For 2008, FNMA and FHLMC, as well as FHA, would insure loan amounts up to $697,500 in San Diego. Any loan greater than that number was considered a Jumbo loan. Unfortunately, that loan limit dropped to $546,250 effective for loans closing on or after January 1, 2009. That meant that anyone looking to buy or refinance San Diego real estate could pay an interest rate as much as 2% higher than if borrowing the true conforming loan amount of $417,000.
However, the recently passed H.R. 1, also known as the American Recovery and Reinvestment Act, restores the higher limit of $697,500. In some areas, such as Los Angeles and Orange Counties, the restored loan limit is $729,750 up from $625,500 earlier this year.
These higher loan limits are often referred to as Conforming Plus or High Balance Conforming loans. FHA loans that exceed $417,000 in San Diego County may be referred to as FHA Jumbo loans.
This is great news for those borrowers that are looking to purchase or refinance in today’s low interest rate environment. Conventional buyer’s can now purchase a $775,000 home with only a 10% down payment.
Questions? Please feel free to email me today.
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Steve Rodgers Named President of Windermere Exclusive Properties
February 26th, 2009 Categories: Escondido, Luxury San Diego Estates, Marketing, Oceanside, Poway, Rancho Bernardo, San Marcos
Steve Rodgers, former President and CEO of Prudential California Realty, Southern California was named a partner and the new President of Windermere Exclusive Properties.
Rodgers, who was with Prudential for more than 14 years, spent the last few months researching the companies and cultures that best fit with his views for the future of real estate. He was honored to have been presented with career opportunities at numerous local, national and international real estate firms and franchises.
“There were many exciting and impressive people and meetings along the way to consider” said Rodgers. “But the partnership with Windermere Real Estate presents a unique opportunity for me to work with a more boutique, locally owned and operated firm. At Windermere, I can serve agents and consumers in a more personal and targeted way.”
Windermere agents enjoy the less corporate atmosphere and consumer centric focus of their San Diego offices. The branches are locally run and provide agents with exceptional support and training.
“There is so much unrest and doubt surrounding our industry. People have lost faith in big business and are wary of the recent bailouts. As a reaction, everyone is pulling back, simplifying their approach to life and putting increased value on trust and friendships in business.”
Rodgers described Windermere’s local business approach and family atmosphere as “a breath of fresh air for employees, agents and consumers alike.”
As President, Rodgers will work with Windermere Exclusive Properties Owners to expand their presence in San Diego. “Steve comes to our brokerage with tremendous experience and energy. He has proven himself as a leader in California real estate and will be an outstanding asset to our company,” said Mark Loscher, CEO.
“We welcome Steve to the Windermere family and look forward to both growing our business, and helping more agents achieve their professional goals.”
Rodgers will immediately start his own expansion of the Windermere brand by opening offices in the Rancho Bernardo/Poway area and then target the city of Del Mar. He also has plans to open offices in Orange County, where he will partner with first-class brokers and agents specializing in the area.
“The market is calling for vision, leadership, change and that trusted personal touch. There is a real need for this type of firm in the local markets stretching from Santa Barbara to San Diego,” said Rodgers, who will be involved in helping spread the Windermere brand throughout Southern California.
In the future, Rodgers plans to work with Bob Deville and Bob Bennion, owners of Windermere franchises in Coachella Valley and the regional services provider. Rodgers will help Deville and Bennion increase the reach of the Windermere Southern California Franchises Services and expand the Windermere brand into new markets.
In addition to offering complete, one-stop shop real estate services, Windermere boasts some of the greatest marketing and technology tools in real estate. Their interactive website, PicturePerfectSanDiego.com, features a dynamic homepage bursting with extensive area information. The site gives homeowners all the tools they need to learn about San Diego real estate and provides a forum for agents to meet new clients.
To give their agents a competitive edge in advertising, Windermere established an in-house production company that produces professional photography, virtual tours and full motion videos. Windermere agents can even order high-quality, custom print marketing material online and have it delivered in just 24 hours.
Rodgers plans to leverage the many resources Windermere has developed for agents to strengthen their market share. “Real Estate, Real Change, Real Value,” one of Rodgers’ mantras, will resonate in Windermere offices as he launches new programs to benefit consumers and agents directly.
Agents should look forward to a host of cost effective services that will help them navigate through today’s demanding real estate and economic markets. Rodgers’ “out of the box” solutions are progressive and often cross traditional industry boundaries. They will undoubtedly provide numerous value-added options for Windermere agents and their clients.
“I am thrilled to be a part of this talented, heartfelt, and service-oriented organization,” said Rodgers. “Expect to hear a lot more from Windermere and myself as we continue to enrich the world of real estate.”
We welcome feedback to this exciting news.
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AMGEN Tour of California is Coming to San Diego County
February 21st, 2009 Categories: Brookside Escondido, Del Sur, Entertainment, Escondido, Rancho Bernardo, Valley Center
We’re excited about the AMGEN Tour of California coming to Escondido. The City of Escondido is projecting there will be over 25,000+ people in attendance. For those of you who do not know what the AMGEN Tour of California is, please read the article below.
About the Tour
The largest cycling event in America, the 2009 Amgen Tour of California is a Tour de France-style cycling road race presented by AEG that challenges the world’s top professional cycling teams to compete along a demanding, recently expanded, 800-mile course from Sacramento to Escondido from February 14-22, 2009.
The final leg of the race will run from Rancho Bernardo to Escondido on Sunday, February 22, 2009. The race finish line will be located in Downtown Escondido at the intersection of Grand Avenue and Broadway.
AMGEN Lifestyle Festival
The Lifestyle Festival will be located near the finish line in Municipal Parking Lot #1 (on Valley Parkway between Broadway and Escondido Boulevard) on Sunday, February 22, from Noon-6:00 p.m., in Downtown Escondido.
There is no better place to experience the spectacle of race day than at the Lifestyle Festival. The festival will feature a health & fitness expo, cancer awareness education, cycling gear, family activities, bike safety, food, entertainment and more! There will be plenty to see and do for everyone in your family!
Route Map
2009 Tour of California – Rancho Bernardo to Escondido – Stage 8
Find more Bike Rides in San Diego, California
Street Closures for the City of Escondido
| Street Closures Saturday, February 21-Monday, February 23, 2009 |
|---|
| Grand Avenue from Maple to Kalmia; Maple & Kalmia between Valley Parkway & 2nd Avenue will be closed from 6 a.m. Saturday, February 21, to 5 a.m. Monday, February 23. |
| Broadway between 2nd Avenue & Valley Parkway will be closed from 8 p.m. Saturday, February 21, to 12 a.m. Monday, February 23. |
| Grand Avenue between Escondido Boulevard & Juniper; Grand Avenue cross streets between Valley Parkway to 2nd Avenue will be closed from 8 a.m. Sunday, February 22, to 5 a.m. Monday, February 23. |
| Rolling Street Closures Sunday, February 22, 2009 | |
|---|---|
| Bear Valley Parkway between San Pasqual Valley Road & East Valley Parkway |
Noon-1:15 p.m. |
| East Valley Parkway between Bear Valley Parkway & Lake Wohlford Road |
12:15 p.m.-1:15 p.m. |
| North Lake Wohlford Road between Valley Center Road & El Norte Parkway |
2:30 p.m.-4:30 p.m. |
| El Norte Parkway between Washington Avenue & Escondido Boulevard |
3:00 p.m.-4:45 p.m. |
| Escondido Boulevard from El Norte to Grand Avenue | 2:30 p.m.-4:30 p.m. |
Street Closures: (760) 839-4691
Amgen Tour: www.amgentourofcalifornia.com
Detailed Event Info: www.sandiegonorth.com/amgen
Best Viewing: www.sandiegonorth.com/amgen/best_viewing.html
Shuttle Service: www.sandiegonorth.com/amgen/parking.html
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HotOnSanDiego Now Brings You Homeowners Insurance
February 15th, 2009 Categories: 4S Ranch, Brookside Escondido, Carlsbad, Escondido, Insurance Services, Rancho Bernardo, Real Estate News, San Diego, San Marcos
In our quest to constantly affiliate ourselves with the best companies who enhance our homeownership experience, HotOnSanDiego is proud to announce our affiliation with JBL Premier Insurance Services.
JBL Premier Insurance Services is an innovation driven, full service insurance brokerage formed to service the needs of the public and the real estate industry at large.
JBL Premier sells all lines of insurance, including personal lines products such as auto, home, business, and inland marine to clients throughout California.
JBL Premier provides those clients-without charge-information and access to other professional services related to homeownership through Preferred Partners in the real estate industry that will enhance their home occupancy experience. They represent many of the finest independent insurance companies in America including Travelers, Safeco, Kemper, Progressive and dozens of others.
If your home or auto insurance is coming up for renewal, we strongly suggest you call or email JBL Premier for your quote today.
Call JBL Premier Insurance at 760-466-1588 or email Service@JBLPremier.com
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