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5392 Wilshire Drive San Diego Luxurious contemporary gated canyon home overlooking Mission Valley and Qualcomm Stadium. The amazing views seem to go on forever. This very unique home is a must see as the pictures and descriptions can’t do it justice. The owner spared no expense in 2008 when the interior, landscaping and pool/w spa were [...] San Diego is poised for double digit increases in housing prices again. It may not happen in 2011 but will certainly happen before 2014 and look for more than a 50% increases in housing costs over the next 3 to 4 years. Why so much optimism? Many reasons, no building is going on in San Diego, yet the [...] It was expected, but not this bad. All of the experts were prepared for a drop once the homebuyer tax credit lapsed at the end of April, but no one expected it to be close to a shocking decrease. According to the National Association of Realtors (NAR), pending home sales fell a whopping 30% in May. [...] The congress has extended the home buyer tax incentive closing date to September 30th. For everyone that met the initial guidelines and was under contract by June 30th but were unable to get the transaction closed, you now have a few more months to get the deal finalized. Mostly this applies to short sales since anyone [...] Don’t forget that next year the capital gains tax goes from 15% TO 20%. So sell it this year or think about doing an exchange in the future. Don’t get too excited about the extension of the “closing” date on the Federal Tax incentive of $ 8,000, you still needed to be in escrow by April 30th. [...] Many who are just walking away await a surprise down the road as lenders turn around and sue for the deficiency. This can happen in foreclosure or short sale. It is imperative that if you are having problems paying your mortgage that you communicate with the bank ( or have your realtor or attorney) communicate with [...] Even though the San Diego market is up from the bottom by 10% already, it is still not too late to take advantage of the low prices in housing. San Diego was the only market in the country to rise last month! If you were waiting to buy at the bottom, that ship has sailed. The state of [...] Well things are still real good for buyers right now. But….many are forecasting the end to the “best buying period in decades”. The tax credit will end on April 30th (contract date) and most economists believe that nothing new will be coming. Interest rates have already shown signs of climbing. If you are going to buy [...] In October the pending sales index went up dramatically. Buyers were scrambling to sign contracts before the $8,000 credit program expired at the end of the month. It is very interesting to observe the first mortgage taking a stand and trying to set the limit on the amount of cash that the second mortgages are allowed in the short sales. The seconds are sticking tight and daring the first to foreclose. In many cases, the first is foreclosing – which helps nobody. But….the seconds [...] |
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