Special offer

Pacific Beach, CA Real Estate News

By Chris "The Loan Ranger" McBrearty, NMLS 274079, FHA, VA, USDA, Loan Officer and Educator
(Fairway Independent Mortgage, DBO/CRMLA #41DBO-78367, NMLS #2289)
With so many different banks, brokers and lenders to work with understanding FHA interest rates has become extremely important for today's home buyer. FHA can be an ideal way to purchase a home with underwriting that is far more relaxed than typical loans and requiring less cash out of pocket than most loans (as little as .5% of the purchase price). How many other loan products will allow you to buy a $300K home with $1500(+-) and a low mortgage payment that is even lower than rent in some cases? There is much to learn but one item that is important is the FHA interest rates. Not all companies offer the lowest rates and not all loan officers offer the same rate within their own company! In order to insure you get the best rate for your scenario you need to look for a professional mortga...
Comments 0
"Your Home Sold in 39 Days or less or we will sell it for FREE!" Hi The Watson Group Realty RE/MAX Assoicates, announces an amazing listing system for San Diego, CA homeowners that Guarantees "Your Home Sold in 39 Days or less or we will sell it for FREE!" *This Guarantee is in writing* In a Down Market, Time is literally Lost Money! Shouldn't an Agent be Accountable? The Watson Group Realty RE/MAX Associates thinks So! Our proven 91 step system was designed over three decades specifically for real estate owners who want a Foolproof, Guaranteed way to dramatically increase the odds of selling Quickly, and for Top Dollar. Want more information about ourpersonal guarantee system? It's easy to get started dial 1-800-264-3608 ext: 1003 for a free recorded message and to receive our "Your Ho...
Comments 0
Buying and selling flipped properties can be a real pain in this market. For example, did you know that lenders require a 2nd appraisal on flipped properties where the seller is making more than 20% profit within 90 days and is selling to a FHA buyer, and the buyer is not allowed to pay for this 2nd appraisal? Last month over 26% of all homes purchased in California came from investors, 31% were all cash buyers, and the median price paid by these investors was $198k. These are the homes that are being flipped and sold to first time buyers usually within a 90 period. As most first time buyers are using FHA financing, understanding the rules that are in place to get FHA financing on flipped properties is essential for success in today’s market place. Here are 5 important rules to follow t...
Comments 48
  If you owe more than your house is worth and can't afford your payments, you might be able to sell it for less than you owe -- without having to pay the lender the difference.   If you can no longer make your mortgage payments and your home is now worth less than you owe on it, foreclosure may not be your only option. A short sale, in real-estate terms, is a sale of a house in which the sale price is less than what the owner still owes on the mortgage. It is a procedure sometimes agreed to by lenders, who often would rather take a small loss than go through the lengthy and costly foreclosure process, in which the lender allows the sale of a home for less than it is worth and forgives the rest of the note. While there are some significant negative consequences to a short sale, an ever-...
Comments 0
By Michael Deery
(Citywide Financial Corp)
Here is a great tip for buyers and especially investors in this market! Cash Recapture after Purchase– with no waiting period! Cash recapture is a nice feature for a borrower or investor who just bought a property and owns it free and clear. Many investors/buyers are paying all cash these days because they got the property for a great price and didn’t want to deal with a bidding war and the loan process. Now, one week later, they want to pull cash out and buy another property. Now remember Fannie Mae and the FHA MUST require a minimum of "6 months seasoning" before cash out is allowed, which means a borrower has to wait 6 months for a loan. I have found a portfolio lender that will let the borrower take a cash out loan from the property even 1 day after closing. In todays market, all-ca...
Comments 0
Roughly forty percent of the homes for sale on today's market are short sales and foreclosures! Distressed properties are well known for their value (a reputation which is sometimes accurate, and sometimes not), but they also have a reputation for causing buyers to become distressed, too!Transactional snafus, last-minute surprises and long, drawn-out escrows that never close seem to be par for the course. Instead of avoiding these properties altogether, get educated about the most common dramas that go down in these deals, and how you can avoid falling victim.1.  Run-on (and on, and on) escrows.  When you're buying a home (or selling one, for that matter), time is absolutely of the essence.  And buyers reasonably expect that the big time suck in real estate is in the house hunting proce...
Comments 0
By Kelly Mac Group (619) 319-7010 San Diego Beach and Luxury Realtors, San Diego Beach, Coastal and Luxury Homes
(Keller Williams La Jolla)
Wordless Wednesday - Mission Beach Volleyball at Sunset  
Comments 6
By Vince McEveety
(Gilleran Griffin Realty)
Pacific Beach San Diego Foreclosure Homes are few and far between at the present moment. With only four currently on the market the question from most potential buyers is, "What's up with that?". Where's the flood of pennies on the dollar housing we were promised from this recession? I understand. Speaking with investors who were looking to buy up big chunks of property they wanted Pacific Beach San Diego Foreclosure Homes to buy somewhere in the 50 cents on the dollar range, because they had heard of such deals going on with investors in other regions. And as a potential buyer, are you getting the list price to sales price ratios that are current in Pacific Beach this month? Would it surprise you that it's 96%? The average days on market is 106 and the sales price per square foot is ra...
Comments 5
By Michael Deery
(Citywide Financial Corp)
Enough is enough, Fannie Mae needs to be called out on this. We all know how important it is that buyers have good credit to purchase a home these days. But check out the outrageous fees that Fannie Mae is charging buyers with less than "perfect credit" (see below). For example, on a $375k purchase with a 20% down payment, a buyer with a 699 credit score (which is not a bad credit score at all) will pay an additional 1.75% fee to get the same rate as a buyer with a 740 score, that amounts to $5,250 on just a $300k loan! A buyer with a 679 score will pay an extra $7,500 (2.5%). If they choose not to pay the fee they will have to take a much higher rate, which will cost them even more over the term of their loan. But on the bright side, its not that hard sometimes for a buyer to get their...
Comments 3
A big concern and a question that many buyers have in today's market place is, "if I buy a home today, will it turn out to be a good investment and what type of appreciation will it have over the next few years"? Well that is a tough question to answer, but to help answer that, here is a report from Case/Shiller that shows the average historical housing appreciation percentage for every decade since 1900!   Charting home appreciation for the past 100 years As you can see, from 1940 to 2007 the average appreciation percentage has been 5.45% per decade. From 1970 to the present the average housing appreciation has been 6.5%. So based on this historical data, it is fair to say that homes will probably appreciate between a minimum of 5.5% and 6.5% over the next decade. So for any buyers who...
Comments 1
By Joe Wagner
(Noble Real Estate)
Here are some tips for a first time home buyer in Pacific Beach to use when buying a home. It is important to select an agent that has experience working with a first time home buyer in Pacific Beach and has a good understanding of the Pacific Beach area. Real Estate is a process of elimination not selection. At any given time there are 18,000 to 22,000 homes on the market in San Diego. It would be impossible to go through all of those homes to determine which one to buy. The key is selecting a specific area or neighborhood and start driving around. Then focus on the specific homes on the market in that area. Next, select the top 5 to 10 to view and then go look. Most people don't know what they are looking for until they find it. A first time home buyer in Pacific Beach needs to ident...
Comments 0
By Michael Deery
(Citywide Financial Corp)
There was big news for the housing and interest rate markets this past week when the Federal Reserve announced that "they will be ending their monetary stimulus program called Quantitative Easing or "QE2" on June 30th". So how is this related to the housing market?   Because of the financial crisis, the government stepped in and instituted a series of stimulus programs which pushed (manipulated) mortgage interest rates to historic lows in order to kick start the American economy and the housing market. Take a look at this chart below. If we look at the 30 year mortgage interest rate before and after government intervention, we see the very successful impact these programs had on driving down interest rates. In fact, according to Freddie Mac, from 2006 to the start of the financial crisi...
Comments 3
The Consequences of Walking Away Form Your Mortgage! Have you had a conversation with someone in the last 30 days about the consequences of walking away from your mortgage? If the answer is yes, you are not alone. With an estimated 11 million people underwater on their mortgage, (owing more on their mortgage than their home is worth), even the most credit-worthy consumers are considering walking away from their mortgage. "Walking away from a mortgage," or what's known as a strategic default, usually results in either a short sale or foreclosure and many people in this position are asking one simple question: What are the consequences of walking away from a mortgage? Walking Away from a Mortgage: The Consequences Generally speaking, if you are considering walking away from a mortgage th...
Comments 0
By Michael Deery
(Citywide Financial Corp)
I wanted to share some information that every homeowner should know. According to an industry trade group, more than 60 percent of U.S. homes currently have their property taxes over-assessed as a result of falling home valuations and inaccurate county records. Check out this chart below, it shows that since 2006, while home values have dropped roughly 25% on average nationwide according to Case/Shiller, National property tax revenue since 2006 has increased from $375 Billion to $476 Billion or 22%. This was a cash cow for all the states during the housing boom, but they now need to reassess their taxes down to meet current housing values. Over-assessment creates a bigger annual tax bill than for which you should otherwise be responsible. How To Appeal Your Home's Real Estate Taxes. The...
Comments 2
By Rod Watson, Luxury Home Specialist
(Pacific Sotheby's International Realty)
Foreclosure is something that many people think can never happen to them.  The reality is it can happen to anyone.  There are many reasons that may leave us facing foreclosure: Rising Interest Rates Unemployment Personal Tragedy Health Problems Death of a Family Member These are just some of those very real reasons.  In desperate times, the last thing you need is to lose your home and potentially break up your family. At The Watson Group, we are committed to assisting you with keeping your home.  We will act on your behalf and negotiate with your lender for Free!  Whether your goal is to stay in your home or simply get out of it without going through foreclosure... We may be able to help make it a reality. For more information click below. STOP FORECLOSURE!  or contact us at (800) 264-3...
Comments 0
By Rod Watson, Luxury Home Specialist
(Pacific Sotheby's International Realty)
Perhaps the most important fact to understand is that in today's economy short sales are a must to sell properties. Since property values have declined nationwide at such a rapid pace, The National Association of Realtors predicted that in 2009 and 2010 over 50% of all properties sold will be short sales or REO properties. It is unavoidable.  If a house is to be sold in today's market, then a short sale will be needed to make that happen.  Short sales require hours upon hours of work, and organization is imperative in order to get them done.  Also be aware that short sales will typically take approximately 3-4 months to complete depending on which state you are in (see below for typical lender timelines), and that is simply because the majority of lenders are overwhelmed at the moment, ...
Comments 0
By Rod Watson, Luxury Home Specialist
(Pacific Sotheby's International Realty)
4 Reasons Why Online Home Buyers Should Consider Using A Realtor! Home shopping online has become a mainstream way for the public. But going shopping alone - without the help of a professional - can become a huge handicap for home buyers.Here are four reasons why home-shoppers need the help of a real estate professional. Searching only online means shoppers can miss some of the best alternatives. Shoppers who limit themselves to only looking at real estate Web sites will overlook some very good properties, possibly one that is perfect for them, and they won't get up-to-the minute information. Lookout for fake listings. People trying to collect page views so they can pump up their advertising returns can waste the time of real home shoppers. Using a professional to vet properties before...
Comments 0
By Michael Deery
(Citywide Financial Corp)
Housing Affordability has risen to its highest Level on Record according to recent figures. Data from the National Association of Realtors show that its Housing Affordability Index reached a historical high in January of this year. This index factors in the median home price, the interest rate, the minimum qualifying income and overall PITI payment a buyer will get on a purchase. As buyers are continuing to hear and read so many mixed signals about the housing market from the media and are probably not sure what to believe, this affordability data proves that there has never been a more affordable to buy a home than today. Housing Affordability Rises to Highest Level on Record This chart below is the "Housing Affordability Index" that NAR uses to calculate housing affordability. (a high...
Comments 0
By Solutions Real Estate San Diego, Expert Real Estate Advisors in San Diego
(Solutions Real Estate)
  Mission Beach Homes for Sale - Homes for Sale in Mission Beach One of my favorite places to visit in all of San Diego is Mission Beach.  There is so much to do including the amusement park, the indoor and outdoor surfing, the fishing and swimming as well as a visit to all of the shops and dining establishments in the area.  Originally growing up in the northeast, this area is the closest feel to New England area beaches.  Homes for Sale in Mission Beach There are lots of great real estate opportunities in the area, for the full time resident, the part time visitor and the investor as well.  This area is in demand, and will remain in demand for a long time to come.  With the recent decline in property values, this might be the best time to consider a purchase.  Mission Beach is divided...
Comments 0
  If you owe more than your house is worth and can't afford your payments, you might be able to sell it for less than you owe -- without having to pay the lender the difference.   If you can no longer make your mortgage payments and your home is now worth less than you owe on it, foreclosure may not be your only option. A short sale, in real-estate terms, is a sale of a house in which the sale price is less than what the owner still owes on the mortgage. It is a procedure sometimes agreed to by lenders, who often would rather take a small loss than go through the lengthy and costly foreclosure process, in which the lender allows the sale of a home for less than it is worth and forgives the rest of the note. While there are some significant negative consequences to a short sale, an ever-...
Comments 0