Corned Beef On Rye

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corned beef

Being from New York, there was always a dozen or so places to get a great corned beef sandwich. In San Diego, I have one place where the Corned Beef sandwich (on rye with mustard of course) compares. DZ Akins in the College area right off of the 8 freeway is a deli just like back home. The food is top notch. Go check it out, here’s the menu.

I still have the most incredible house in metro San Diego listed for just under $2 million. Live here and you’d never want to leave. The sky show saturday was incredible – it happens once a year and the back yard of this house is the single best place in town to view it.  See facebook post by Joe Gray, one of the agents on my team. For more info on the house see my website.

Many people, even those in the more expensive homes, are having trouble paying their mortgages. Go to my site at www.knowyouroptions-sd.com and read about all the options. Call me at (619) 985-6528 if you have any questions at all. I am an expert in distressed properties and will gladly review all of your options. Foreclosure SHOULD NOT be one of them.

Filed Under: Current San Diego Market, Short Sales

There are many ways to start investing

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re investment

One way to get started is to do a “wrap”  

This method works well with people who have a hard time getting a mortgage because of income or credit or both. You sell them the property on a contract. You keep the existing mortgage and stay on title.

You then wrap the old mortgage with a new mortgage. Let’s say you have a 30 year mortgage at 6% for a $100,000 with a monthly payment of $599.55. You Give them a 30 Year Wrap mortgage at 8% for $125,000 with a monthly payment of $880.52. You could have provisions where if they refinance in 3 – 5 Years and pay of your mortgage and become sole owner. Read about six other ways to get started in the investment game here.

Afew days ago we talked about Warren Buffet saying there will be no double dip recession. Now he is joined by Stephen Forbes. Read the article here.

So, all in all , although it seems slow at least we are probably heading in the right direction.

In a totally different direction, a couple of friends of mine bought a house up in Orange County Ca. They purchased a house that was “double sold” . Read the whole story.

Bye for now

Filed Under: investors

Are we building houses again?

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new construction

New housing starts surged 10.5% in August 2010 to the highest level since spring, but the activity was driven by a sharp spike in apartment construction, government data showed. Housing starts rose in August to an annualized rate of 598,000, compared with a revised 0.4% increase in July, the Commerce Department reported.

Starts rose in all regions except the Northeast, where they slumped 24.3%. Big increases in the West (34.3%) and the Midwest (21.7%) offset that decline. Read the entire report here

This may not mean a whole lot, but it is far better than going in the opposite direction. Here in San Diego, we don’t see much building yet, so it’s good that “starts”  are starting!

And…speaking of starts, I have one of the nicest homes in San Diego listed right now and it’s already finished. No need to wait!. Please see the virtual tour at http://www.previewfirst.com/vt/29519

I know the banner up top isn’t right yet, but we’re getting close. Might be a day or two until it will look good.

Buying opportunities abound!  I’ll have an awesome lender call you  – just call me ( or email or text ). The interest rates for 30 years are real close to 4%  – yes  4% .

adieu jusqu’à demain ( playing with my french )

Alan

619.985.6528

Filed Under: Builders and housing inventory

Foreclosures

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foreclosures

California’s REO (Bank-owned)  inventory increased by about 4,000 properties during the last month and now stands at an estimated 108,000 repossessed homes that have not yet been resold, according toForeclosureRadar’s report.

New foreclosure filings in California are down 16.03 percent from last year, but the pipeline is becoming increasingly clogged. ForeclosureRadar reports that there are currently 155,000 homes in the state in a pre-foreclosure status, another 123,000 properties scheduled for trustee sales, and the time-to-foreclose has lengthened to an average of 287 days.

So…there will still be more foreclosures. I can’t stress enough that foreclosure DOES NOT have to be an option. If you can’t succeed at a loan modification, short sell the property!!

It can still keep you in the house for about 4 months and does so much less damage to your credit and situation. And for all anyone knows, you are just selling your house to downsize or whatever.

If you are in Arizona please call charlene or visit her website . In San Diego call me or visit my website at AtHomeInSD.com.

Also, first time buyers, get off the fence. Interest rates are low low low and prices are still near the bottom. Call me!

Bye for now – waiting for your call

Alan

Filed Under: Short Sales

No double dip

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double dip

I heard enough about this double dip krap. I’m convinced if you want a double dip, head for the ice cream store. It just is not going to happen.  There are too many positive signs, especially in San Diego. My economist forecaster is none only than Berkshire Hathaway’s own Warren Buffet. He says there will be no double dip (see below ) in addition many economists are also turning that way see the story about  no double dip by clicking here.  -   

 
 
 

 

 
Moneynews.com
Breaking from Moneynews.com

Buffett Rules Out Double-Dip Recession Amid Growth

Warren Buffett ruled out a second recession in the U.S. and said businesses owned by his Berkshire Hathaway Inc. are growing.

“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”

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Berkshire bought railroad Burlington Northern Santa Fe Corp. for $27 billion in February in a deal that Buffett, 80, called a bet on the U.S. economy. The billionaire’s outlook contrasts with the views of economists such as New York University Professor Nouriel Roubini and Harvard University Professor Martin Feldstein, who have said the odds of another recession may be one in three or higher.

“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”

Buffett built Omaha, Nebraska-based Berkshire into a $200 billion provider of insurance, energy and luxury goods and services over four decades. The company cut about 20,000 jobs last year as demand for its products declined.

© Copyright 2010 Bloomberg News. All rights reserved.

Also, Zillow’s figures for San Diego show a nice increase in San Diego home values. 

 
Zillow’s Monthly Real Estate Report for San Diego

According to Zillow’s Real Estate Market Reports for July 2010, San Diego home values were up 1.1% compared to June 2010 and Up 11.6% compared to July 2009.

See the full story and all SD home values here.

Interest rates still at record lows so buy something now….. and by all means  DO NOT LET YOUR SELF, YOUR FRIENDS or ANY OF YOUR FAMILY GO TO FORECLOSURE!!!!!!   CALL ME FIRST  619.985.6528.

I have many solutions!

Til next time -

Alan
Filed Under: Current San Diego Market, Short Sales

Happy Labor Day! Mortgage rates at record lows.

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Me

I hope this Labor Day finds you employed and making all the income you need or want.

Me

With all the economic news, how can anybody filter it or know how it is going to effect them? I just want to reiterate a couple of points as we begin to approach the real annual ” Holiday Season”

If you are having problems keeping up, please, please, please do not let your house go in to foreclosure. If you have tried to do a loan modification and failed, Short Sell the property.

It will take 4 to 6 months so you have time to decide where you will live after you leave and your situation will be far better than if you allowed the bank to take back the property. And…almost nobody knows that you sold it short, they just know that you sold it.

Even high end properties are candidates for this process. It is an economic reality that some people (yes good people) are unable to continue paying their mortgage.  If you live in San Diego County, I am your short sale expert.

If you live elsewhere in the country, I can get you to the best Realtor to handle your situation. Call or email me now!

That said, the buying opportunity is incredible right now. The interest rates are ” Oh my God!” low and the housing prices are still near the bottom. If you are looking for investment or are on the fence about buying, get going now. In five years you will be so happy you made this choice.  In many places inventory is abundant and you have lots of choices. If you live in San Diego, your choices are limited, but I’m sure we could find something you like.

One last item today.  Mortgage Brokers have taken a hit as part of the cause of the “loan fiasco” over the last few years. That area seems to be taking the brunt of new legislation. I found a good article which explains the mortgage industry a little and shows where it is headed. Go read this blog by Phil Stevenson.

Well go enjoy the Holiday!!!

Filed Under: Current San Diego Market