New Homes for Sale San Elijo Hills in San Marcos – just outside San Diego

November 26, 2011 By admin Leave a Comment

I was showing new construction to a buyer recently and ran across an incredible community at San Elijo. Convenient to the 15, the 5 and the 78, this community appears to be an awesome lifestyle for all. Retired? Newly weds? Single professional? Family? This neighborhood ( a true community anchored by a central marketplace ) appeals to all.

There are two builders right now D.R. Horton and Lennar. Lennar has Terraza and the less expensive Belmont both worth the stop! D.R.Horton has Altaire. The models are incredible and worth perusing.

Certified New Home Specialist

I am a new construction fanatic and a CNHS (Certified New Home Specialist). If you are interested in looking in San Marcos, call me, I will take you on a tour of all the models at San Elijo. And…I am a serious negotiator and will get you an incredible deal over there (but you have to go with me – don’t worry, very friendly guy here). Call me at (619) 985-6528.

Feel free to check out the community and the floorplans, but…call me before you visit – your wallet will thank you in the end.

I am also a HAFA certified short sale specialist in case you know anyone with mortgage problems. Avoid foreclosure at all cost. Check out www.shortsaledignity.com.

Filed Under: Builders and housing inventory, Current San Diego Market, investors Tagged With: altaire, belmont, dr horton, lennar, new construction in San Diego, new construction in san marcos, San Elijo Hills, terraza

Short Sales – Bad words? Not if you are in San Diego

November 16, 2011 By admin Leave a Comment

Short sale properties in San Diego. Reason to stay away? Are you kidding. Short sales are golden. You can get short sales in San Diego for about 80% of market value. The process is now refined. Short sales can be an incredible investment with very little pain involved. It has taken the banks about 4 years but , believe it or not, they finally have their stuff together. With the record low interest rates on San Diego mortgages if you are going to invest , San Diego short sales is the place and the time is now. My San Diego short sale site is called Short Sale Dignity at www.shortsaledignity.com. for the other side of the coin (San diego Short sales – sellers this is for you) will be posted tomorrow.

Come back then. In the meantime, please check out my website and get my free book Fighting Foreclosure at www.shortsaledignity.com and for the most advanced state-of-the-art San Diego property search which includes the entire San Diego MLS head straight for the At Home In San Diego website:

www.AtHomeInSanDiego.com

Filed Under: Current San Diego Market, Short Sales Tagged With: san diego distressed properties, san diego foreclosures, san diego investment property, san diego short sales, short sales in San Diego

San Diego’s own Susan Davis proposes the Short Sale Transparency Act.

October 19, 2011 By admin Leave a Comment

Susan Davis (D-San Diego)

A bill authored by House member Susan Davis (D-San Diego) was introduced to Congress to give homeowners at risk of foreclosure a fair chance to avoid further damage to their credit rating. The Short Sale Transparency Act would require the nation’s giant mortgage lenders, Freddie Mac and Fannie Mae to disclose the minimum price they would be willing to accept for a short sale property if the first offer to purchase a home is not accepted.

This law would force bankers to provide the minimum price in an effort to aid the housing market.

Properties that are sold as short sales sell for less than what is currently owed on the mortgage principal, and must be approved by lenders in order to transfer title without blemishes on their title.

Short sales have increased as a last ditch effort by homeowners to avoid foreclosure. When the price a lender requires is unknown, short sales often become less viable. The “shot in the dark” method for determining bids to offer the bank are creating much wasted effort on all involved.

Loan servicers often repeatedly deny short sale offers without providing homeowners any guidance on the price the lender is willing to accept. As a result, many homeowners that may have sold their property as short sales end up as foreclosures. The bill would require lenders to disclose the minimum price that banks would take for their home to provide a level playing field for homeowners, banks and investors.

“People deserve a real chance to avoid foreclosure,” said Davis. “It is unfair to expect someone to complete a short sale instead of abandoning their home to foreclosure, if the banks don’t meet them half way. So many homeowners are willing, even eager to work with banks to get out from under the mortgage and protect their credit rating,but far too often, they find themselves in a guessing game as to what dollar amount will complete the sale.”

The bill was offered just weeks after another California Congresswoman, Maxine Waters (D-Los Angeles) called on President Barack Obama to offer bold solutions on jobs and the foreclosure crisis. Waters said Obama should demand bankers modify mortgages for millions of homeowners at risk of foreclosure.

The veteran Congresswoman has been a leading voice for homeowners at risk of losing their homes, calling for a foreclosure moratorium after the robo-signing scandal made headlines a year ago, and has lobbied to help homeowners and tenants renting properties at risk of foreclosure.

It appears the call to action is building, but it needs to happen now. For many, the legislation will be to little , too late.

All the short sale information you need go to ShortSaleDignity.com

Filed Under: Articles, Current San Diego Market, First Time Home Buyer, internet marketing, investors, lenders Tagged With: bank of america, chase, citibank, schmitt, short sales, Susan Davis, wells fargo

California leading the way! No not yet.

October 18, 2011 By admin Leave a Comment

The chart below lays out the top 10 (the only 10) cities that have experienced a year over year increase since last August. California, although starting to fall in place is not there yet.

We do expect San Diego prices to start rising soon as the inventory is low enough to create an upward pressure on price.

Want to buy a house in West Virginia?

One thing is for sure, 2012 and 2013 will be very interesting years for the housing market. There are quite a few variables including interest rates, how lenders will handle REO’s and short sales, and what the government will do.

One thing is for sure right now though…the interest rates are the lowest in history and prices are the lowest in 5 years. Chances are prices will not be this low again in our lifetimes.

How can you take advantage? Use any investment money to purchase real estate. Buy a condo and rent it out. When you calculate the numbers, you can easily get a positive cash flow with as little as 20% down.

If you want to take advantage of this opportunity of a lifetime in San Diego, call me at 619.985.6528 or visit the best property search in San Diego at AtHomeInSanDiego.com

One last thing for now….the current economic times have been difficult for many. If you are having mortgage challenges, don’t ignore them. They don’t go away by themselves. Check out my website at ShortSaleDignity.com . There you will find my free book Fighting Foreclosure. I can assist in San Diego but can also refer you to the best Certified Residential Specialist and short sale professional in your area.

CoreLogic August Home Price Index (year-over-year change)

State/district	All single-family	Excluding distressed sales
West Virginia	8.6%	10.7%
Wyoming	3.6%	2.4%
North Dakota	3.5%	4.2%
New York	3.2%	3.6%
Alaska	2.2%	3.1%
South Dakota	1.5%	0.6%
Washington, D.C.	1.3%	1%
Nebraska	1.1%	1.1%
Kansas	1%	3.7%
Indiana	0.8%	2.2%

Filed Under: Builders and housing inventory, Current San Diego Market, First Time Home Buyer, investors, National, Short Sales Tagged With: corelogic, housing market, schmitt, west virginia

San Diego home prices….Time to buy?

October 17, 2011 By admin Leave a Comment

Well the news is not great, but the area is , as they say, “hangin’ in there”. Home prices in San Diego County fell in September, while sales numbers were mixed, the latest DataQuick report shows. Figures for Southern California also were mixed, with the same economic factors in play: the pursuit for lower-priced distressed properties, financial uncertainty and lower-than-normal mortgage rates.

Locally, the median price for all sales – including resale homes, resale condos and new homes – was $315,000 in September, down 1.6 percent from August and down 4.7 percent from a year ago. The new-homes sector was the only area that saw a year-over-year price gain, rising from $439,250 to $515,000, or 17.2 percent.
The county recorded 3,084 sales in September, down 5.1 percent from August but up 0.5 percent from the same time last year. The only sector that saw a positive year-over-year gain in sales last month was resale homes, rising 6 percent.
As a region, there were 18,149 total sales, counting Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in September. That figure is down 7.7 percent from August and up 0.3 percent from a year ago.
Demand is staying moderate because of affordability. The interest rates remain at or near all-time lows. In addition, prices are still at or near all time lows. What a combo, you would think demand would be through the roof. However, loans are still difficult to get and many people feel economic woes and are putting off any kind of “large purchase”.
Historical data from the data company show sales have fallen on average 8.3 percent between those months since 1988, when the real estate data company began tracking those numbers.
Meanwhile, the median price for total homes sold last month was $280,000, up 0.4 percent month-to-month but down 5.2 percent from a year ago.

Those who have the means who buy now will be looking back in 5 years saying “Thank god I bought those properties when I did!” The rest will be looking back and saying “If only I had….”

If you are lucky enough to be looking in San Diego, call me at 619.985.6528 or send me an email. And…if you are having any kind of mortgage difficulty, visit ShortSaleDignity.com.

Please feel free to leave any comments — thanks!

Filed Under: Current San Diego Market, First Time Home Buyer, investors, lenders, Short Sales Tagged With: dataquick, gray, san diego housing statistics, schmitt, short sales, spillum

Shadow Inventory – What is it and what does it mean?

October 12, 2011 By admin Leave a Comment

Shadow inventory is defined as properties whose borrowers are 90 days or more delinquent on their mortgage payments, ones currently or recently in foreclosure or those that are back in hands of the banks.

This shadow inventory will slow down the housing market recovery. Monthly foreclosure numbers will remain high through 2012 and the REO Inventories will remain high through 2013 possibly even 2014. The banks hold about 800,000 REO and three quarters of those are not listed for sale.

The shadow inventory keeps home prices down for months and even years. States like California, Florida, Illinois, Georgia and Ohio have the largest shadow inventories. It takes more than a year for the bank to put up “For Sale” Signs. All of the people 90 days or more past due are all potential foreclosures if they can’t accomplish a modification or a short sale.

Many short sale prices are not an accurate reflection of true market value. Many buyers gravitate toward short sales for two reasons. The first is that the price is attractive and the second is that the potential buyer believes the seller is desperate.

Short sales are on the rise as the foreclosures have slowed over the last few months. This gives distressed homeowners who do not qualify for loan modification or refinancing a viable option to foreclosure. Short sales also give lenders the opportunity to avoid the long, costly and increasingly messy process of foreclosure
and the responsibility of reselling the property as an REO.

Once a property is foreclosed upon, the bank usually will not be able to get a higher price for the property. Many
times if the bank can negotiate with the seller’s buyer on the offer price for the property, they are going to get more for that property than if they take the property to sale.

So….if you are looking, go get a deal on a short sale or if your mortgage challenges have got you down, call me at 619.985.6528. I will take very good care of you in San Diego or refer you to the best CDPE, CRS in your area.

Free book Fighting Foreclosure – get your copy NOW!

Filed Under: Current San Diego Market, First Time Home Buyer, investors, lenders, National, Uncategorized Tagged With: default, distressed property, foreclosure, mortgages, shadow inventory, short sale, upside down mortgage

Real Estate Agents – To Hire Or Not To Hire. An Informative Article!

October 8, 2011 By admin Leave a Comment

This article appeared recently in the National Realty News. It gives good insight. As a Real Estate Agent myself, hire makes more sense to me!

Please feel free to comment on the article. Call me in San Diego if you have any questions. I can refer you to a great agent in any city. My number is 619.985.6528.

Need to understand short sales? Head right on over to ShortSaleDignity.com. Do not put this off – the website is VERY informative . The best San Diego search online can be found at AtHomeInSanDiego.com. Check it out!

Selling a home is never painless, but during the current buyer’s market in many cities a house sale is more delicate than ever. That’s why choosing the most dependable realty agent will make a serious difference in both the price you get and the speed with which your residence sells.

Your starting decision is whether or not you require a real estate agent. Close To 20 percent of homes are sold with no professional real estate agents. However, many of those do-it-yourself sellers said next time they would find a professional broker. Additionally, many do-it-yourself home sellers eventually hire a real estate agent to market their homes.

With no realty agent you will have complete obligation for advertising, answering phone calls, demonstrating the house to likely purchasers, assisting with financing, preparing a lawfully binding sales contract, setting up the sale closing, and managing particulars of the sales agreement.

Nonetheless, there is something that is even more frightening than all this – competition with thousands of other houses for sale via the local MLS (multiple listing service).

This means that houses which are in the MLS have a privilege because dozens of them get presented by an agent to prospective buyers and a great deal of them meet the buyer’s wishes. Your single house doesn’t stand a chance to dozens of others.

Going through the procedure of picking out an agent is the best way to make up your mind if you actually require one. This procedure will allow you to find out all the things they do for house sellers and help you recognize if you necessitate marketing service.

Consult your neighbors to seeif they can recommend to you some professional real estate brokers. To find out whether or not you need an agent, you must speak with a minimum of three brokers who sell homes in your vicinity.

Alan Schmitt - Realtor

When selecting real estate agents to talk to, be sure to invite local brokers who have recently contacted you about either selling your house or calling you to their open houses of nearby homes currently listed for sale.

Also contact agents who had “for sale” signs on neighborhood houses which became “sold” signs. In addition, check the newspaper classified ads to learn which agents advertise homes for sale in your vicinity.

Last, phone nearby brokerage firms which specialize in homes in your region and ask the managing director for the name of that firm’s most successful agent who markets houses in your vicinity. Don’t merely cold call and talk with any available broker since you are probably to get an unpracticed agent who has “floor duty” when you call.

If you or someone you know is having ANY kind of mortgage problems, please have them go to my website and get my free book on foreclosure avoidance. It is so much easier than you think!

‘Til next time, make some comments and return here often!

Filed Under: Articles, Current San Diego Market, First Time Home Buyer, investors, National Tagged With: buying a home, CAR, investment property, NAR, realtors, selling a home

Mortgage Rates Lowest in History!

October 6, 2011 By admin Leave a Comment

Rates on 30-year fixed-rate mortgages dropped below 4 percent this week for the first time in history amid increasing global economic concerns, Freddie Mac said in releasing its Primary Mortgage Market Survey.

A separate survey by the Mortgage Bankers Association suggested many homeowners and would-be homeowners are unwilling or unable to take advantage of record low rates, with demand for refinancings and purchase loans both falling last week.

Inman news reports that we have now surpassed the lowest of the low.

Fannie Mae economists are projecting that mortgage rates will stay well below 5 percent through 2013, and that demand for purchase loans will more than double in the next two years.

Freddie Mac’s survey showed rates on 30-year fixed-rate mortgages averaged 3.94 percent with an average 0.8 point for the week ending Oct. 6, down from 4.01 percent last week and a 2011 high of 5.05 percent in February. Rates on 30-year fixed-rate mortgages have never been lower in Freddie Mac records dating to 1971.

Call me at 619.985.6528 and I will refer you to the best Certified Residential specialist in your area. Of course, if you are in San Diego, call me. Not only will I find you an incredible loan, but…an awesome property to live in or for investment. Now Is The Time.

Visit my website for the best local search available. AtHomeInSanDiego.com

Filed Under: Current San Diego Market, First Time Home Buyer, investors, lenders, National Tagged With: housing, interest rates

Shadow Inventory in housing and the effect on the housing market!

August 22, 2011 By admin Leave a Comment

Shadow inventory improves but still threatens housing recovery

Despite all those millions of distressed properties out on sale,
depressing home prices even further, there is one glimmer of hope
according Standard & Poor. According to the report the time it
would take for banks to purge all of this so-called “shadow
inventory” from the market (through foreclosure sales, mortgage
modifications and other measures) shrunk to 47 months during the
second quarter, a significant drop from the 52 months it
estimated for the first quarter of this year. The report also
found that the total dollar value of the loans on these
properties — known as non-agency loans because they are not
backed by Fannie Mae, Freddie Mac or the Federal Housing
Administration — also fell to $405 billion at the end of June
from $433 billion three months earlier. S&P said the decline was
helped by stabilizing liquidation rates and by fewer borrowers
falling behind on their mortgage payments as the economy slowly
recovered during the quarter.

S&P estimates that there are still a total of between 4 million
and 5 million homes, including those with agency-backed loans, in
shadow inventory, an amount that continues to jeopardize the
housing market’s recovery. Nevertheless, Fannie and Freddie are
looking to rid themselves of a large percentage the shadow
inventory they do have — and quickly. Earlier this month, the
Federal Housing Finance Agency (FHFA), the Treasury Department
and the U.S. Department of Housing and Urban Development were
seeking suggestions on how to dispose all the repossessed homes
now owned by Fannie Mae, Freddie Mac and the Federal Housing
Administration in a way that would benefit local communities.

Filed Under: Current San Diego Market, First Time Home Buyer, investors Tagged With: foreclosures, san diego housing, shadow inventory, short sales

There is still time! We won’t be saying this in another 6 months!

April 25, 2011 By admin Leave a Comment

We are beginning to see more and more stories along these lines. It may be your last chance to buy at or near the bottom! Interest rates are still at historic lows. The ship will be sailing soon!!

This article is from From MoneyNews.com

New-Home Sales Surge 11 Percent but Pace Is Far From Healthy Level

Monday, 25 Apr 2011 10:07 AM

More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a half-century.

New-home sales rose 11 percent last month from February to a seasonally adjusted rate of 300,000 homes, the Commerce Department said Monday. That follows three straight monthly declines. Still, the pace remains far below the 700,000 homes a year that economists view as healthy.

Sales of new homes fell last year for the fifth consecutive year and the market is showing no signs of rebounding. Economists say it could take years before sales return to a healthy pace.

The median price of a new home rose nearly 3 percent from February to $213,800. New-home prices are about 34 percent higher than the median price for re-sales. That’s more than twice the markup in healthy housing markets.

Builders are struggling to compete with a record number of foreclosures, which have forced down the price of re-sales and made them more of a bargain. The disparity has dragged on the economy. New homes represent a fraction of sales but they have an out-sized impact on the broader economy. Each new home creates an average of three jobs for a year and $90,000 in taxes, according to the National Association of Home Builders.

“New housing prices look much less attractive compared to cheap existing stock,” said Yelena Shulyatyeva, an analyst with BNP Paribas. “As such, new housing demand will likely remain depressed throughout this year and next.”

Many builders are waiting for the glut of foreclosures and other distressed properties to be cleared before stepping up construction. But with 1.2 million foreclosures forecast this year nationwide, according to foreclosure tracker RealtyTrac Inc., a turnaround isn’t expected for years.

“You can’t put lipstick on this pig,” said Diane Swonk, chief economist at Mesirow Financial. “The new housing market remains weak no matter how the data is cut.”

High unemployment, tight credit and a lingering fear that prices will fall further have kept people from making home purchases.

The seasonally adjusted number of new homes for sale in the United States is the fewest since the summer of 1967, when there were 110 million fewer people in the country.

Requests for building permits, a gauge of future construction, sank in the winter to their lowest level in more than 50 years. They recovered somewhat in March, but that improvement was spurred by a more than 28 percent jump in permits for apartment and condo buildings.

New-home sales rose in most regions of the country last month. Sales jumped nearly 67 percent in the Northeast, which was hit hard by wintry weather; by almost 26 percent in the West, which saw a surge in buying three months ago because of a Jan. 1 deadline for a California state tax credit; and by nearly 13 percent in the Midwest. Sales fell 0.6 percent in the South, which accounts for the nation’s biggest home-sale market.

Given the pace of new-home sales, it would take more than 7 months to clear them off the market. Economists say a six-month supply of homes is healthy.

Also catch our marketing blog at www.Incomefaucet.com

Filed Under: Articles, Builders and housing inventory, Current San Diego Market, First Time Home Buyer, investors Tagged With: alan Schmitt, housing, housing market, interest rates, moneynews, san diego real estate