Buyers Ready to Snatch Bargains This Spring
Bargain prices on San Diego real estate combined with low interest rates below 5 percent may bring the San Diego real estate market its busiest spring season in years, economists say.
Distressed sales continue to put downward pressure on San Diego home prices, which may lure more buyers off the fence and ready to snag a deal during the typical prime-time buying season.
Some San Diego home builders are ramping up discounts on new homes as well as boosting commissions to brokers to try to spark more transactions.
Sellers of existing homes also are getting more competitive in pricing their homes.
“After three years of the housing downturn, people are becoming much more realistic in terms of valuing their homes,” says Lawrence Yun, chief economist at the National Association of REALTORS®.
An improved job market with better income potential may also motivate more people to buy, says David Berson of the PMI Group.
“Household formations are also very important,” Berson says. “Kids may have moved back in with their parents, or two people may have moved in together, because of job concerns. Now they can move into their own place.”
While interest rates are sitting comfortably below 5 percent for now (30-year fixed rates averaged 4.76 percent last week), economists warn the attractive low rates won’t last long.
“Few think mortgage rates are going lower,” says Mark Zandi, Moody’s Analytics chief economist. “It’s more likely they will be 6 percent than 4 percent next spring. This lights a fire under buyers.”
Source: “Discounts Expected in Spring Housing Market,” The Wall Street Journal (March 22, 2011)
Grand Opening of Westcott at La Costa Oaks
Grand Opening of Westcott at La Costa Oaks in on Saturday, April 16 2011 from 11am to 2pm. This weekend will be the first opportunity to tour the Westcott La Costa home models. Attendees will enjoy refreshments, music, face painting and activities at the Splash.
La Costa Oaks is a master-planned village with-in La Costa Carlsbad. The La Costa community is renowned for its rich architectural detail, traditional craftsmanship and an inspired use of authentic materials. Residents of Westcott at La Costa Oaks enjoy a premier location within this sought after neighborhood, a quick drive to Carlsbad beaches and a close proximity to Encinitas Ranch Town Center and The Forum Carlsbad shopping center. La Costa Oaks residents also enjoy inclusion in the acclaimed Encinitas School District and San Dieguito Union High School District as well as the close proximity to dedicated open space including the La Costa Preserve which offers more than 1000 acres of wildlife preserve and hiking trails.
These La Costa homes for sale are built by Standard Pacific Homes. Westcott at La Costa Oaks Carlsbad features three versatile floor plans ranging in size from 2983-3316sf. 4-5 bedrooms plus bonus room or loft are available per plan, as well as 2.5-4.5 baths. Each of the homes for sale in Westcott in La Costa Oaks can be personalized with optional bedrooms, hobby room or office.
Prices for Westcott in La Costa Oaks homes start in the 600′s. Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com for information about buying or selling Carlsbad real estate or if you’re looking for Carlsbad Realtors.
7 homes left in Crescent Del Sol Estates in Carlsbad
7 homes left for sale in Crescent Del Sol Estates Carlsbad. Perched on a hilltop site Crescent Del Sol Estates are located west of the 5 freeway in the sought after 92008 zipcode on Date st. These Carlsbad luxury homes blend mediteranean detailing with a SoCal beach style architecture creating the ultimate in luxury coastal living. Homes in Crescent Del Sol Estates boast panoramic whitewater ocean views from the main living areas as well as 360 degree views from each rooftop deck!
Built in 2010, these luxury Carlsbad homes range in size from 3250-4308sf. Floorplans include homes with 3 or 4 bedrooms all with 5 bathrooms. Crescent Del Sol Estates in Carlsbad features 4 detached models ranging in size from 3250-4308sf and 4 twinhome style (2 buildings) models ranging in size from 3360-4008sf. Each of the eight Villas in Crescent Del Sol Estates Carlsbad have been customized with imported tile and stone, wrought iron hand railings and light fixtures and grand second floor terraces. The grand terrace is accessed by a La Cantina bi-fold door system, that allows the great room of these luxury Carlsbad homes to be part of the grand terrace. Each of these custom homes in Carlsbad CA also features amenities such as magnificent spacious master suites with spas, dramatic gourmet kitchens,10 to 12 ft ceilings, and all the finest finishes.
Residents of Crescent Del Sol Estates in Carlsbad enjoy more than 2400sf of entertainment space in the central court which includes and elegant outdoor fireplace, waterscaping, and meandering walkway through the surrounding landscaping. Each of these luxury homes in Carlsbad features 3 or 4 car private garages with-in the private underground parking garage. Crescent Del Sol Estates also features an additional storage room plus a large entry vestibule with closed circuit TV and private elevator up to residence.
Crescent Del Sol Estates HOA fees run about $486 per month and include common area maintenance, exterior building maintenance, exterior landscaping maintenance, limited insurance, and roof maintenance. There are no mello roos fees for these Carlsbad luxury homes. Prices for homes in Crescent Del Sol Estates Carlsbad start at $1,850,000.
Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com for information on buying or selling Carlsbad real estate.
Quick Move In Homes Available in The Foothills Carlsbad
New Homes for sale in Carlsbad ready for a quick closing! Located in West Carlsbad in the popular 92010 zip code The Foothills Carlsbad features three neighborhoods accompanied by a recreation center with resort-style swim club, barbeque facilities, paddle-tennis courts, and walking trails. Offering brand new homes for sale in Carlsbad CA priced from the $400′s, The Foothills is an affordable North County San Diego homes community with lot’s to offer it’s residents. These new homes for sale in Carlsbad also boast a low 1.21% new homes tax rate!
Blossom Grove in Carlsbad CA currently has one quick move in home for sale at a over a $20,000 discount! This 5 Br, 3Ba Foothills Carlsbad homes for sale boasts 2800+sf of living space, a great room, dining room, and a 2 Car Garage with dedicated Bonus Storage Area. Kitchen Features granite counters with coordinated tile back splash, stainless steel appliances, brown sugar beech cabinets, and a gourmet island. The master bedroom in this new homes for sale in Carlsbad features travertine slab countertops, his & her vanities, soaking tub & dual walk-in closets. This Foothills Carlsbad home for sale also features a full size rear yard and a fully landscaped front yard. Priced in the mid $500′s, this new homes for sale in Carlsbad is priced to sell fast and is below what resale homes are selling for in the area.
Rockrose in Carlsbad CA currently has 3 quick move in homes available for sale. These eco friendly homes in Carlsbad are built by Brookfield Homes and are located with-in the Foothills Masterplan in Carlsbad. Two of the 3036sf 2-story models are available as well as one of the 2116sf single story models. These new homes for sale in Carlsbad features granite kitchen countertops, stainless steel appliances and sink, laundry sink, a security system, and a tankless water heater with recirculating hot water pump. Prices for these 3 Foothills Carlsbad home models start at $594,900.
Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com for Carlsbad real estate information and home sales.
Sellers: 5 Questions to Ask When Reviewing an Offer
You made the decision to list your home with a San Diego REALTOR®. You worked hard to get the house in tip-top shape, the curb appeal shines, and you’ve priced it well.
Some might say that’s the easy part. When an offer comes in, your San Diego real estate agent will review it with you. It’s important that you read and understand all of its terms – not just the purchase price. Here are five things to keep in mind when reviewing offers to help you choose the one that’s best for you.
1. What contingencies are involved? A contingency is something that has to happen before the contract is fully enforceable against the buyer and seller. If a contingency is not met, the party benefited by that contingency can walk away. Common examples include the buyer seeking a mortgage loan to purchase the home; selling the buyer’s current home; conducting inspections; and in a short sale, approval of the seller’s lender.
2. What’s the bottom line? Can you afford to cover everything the buyer is asking for? Your San Diego real estate agent can provide you with a “net sheet” that takes all of the financial terms – such as requests for closing costs and repairs – and calculates what the net proceeds will be, based on the offer price. This is especially important for owners who are short selling their homes.
3. What timeframes are involved? Be available for your San Diego real estate agent to present offers. Every offer has an expiration date, and it’s important to meet that expiration date or get an extension if you need more time to review the offer. When is the buyer proposing to close escrow? How long is the buyer asking for due diligence? The purchase agreement will have a “time is of the essence” clause, so it’s important to pay attention to all contractual deadlines.
4. What is most important? This is a question that only you as the seller can answer. If maximizing proceeds is most important, you’re more likely to stand firm on your financial terms, whereas if a quick closing date is most important, then you may be willing to compromise in other areas.
5. What are my options? The seller always has the right to accept, reject or counter every offer that’s made on the property. Selling a home can be a very emotional time for a homeowner. It’s important to stay flexible, look at it as the business transaction it is, and for each provision in the offer decide whether it’s a deal breaker or if you’d be willing to compromise. Working through the offer with your San Diego real estate agent, decide what course is best for you.
Looking to buy or sell San Diego real estate? Contact Travis Breton at 760-470-2752 or visit http://sdhome source.com
Why it’s still beneficial to own your own home
For decades, homeownership has been a key part of the American dream. Recently, however, some media outlets, academics and others have questioned this notion. However, here are some reasons why homeownership is still valuable:
Homeownership strengthens communities. Homeowners generally stay in their homes longer than renters. This helps prevent crime, fosters a better school system and generally makes for more secure, established and attractive neighborhoods.
Financially, owning a home is one of the best ways to build long-term wealth, by building equity in your home and allowing you to deduct mortgage interest on your federal income taxes. Some homeowners even consider their home a forced savings account.
Renting can cost less in the short term. But like the cost of most things, rental rates generally increase over time, with typical increases of about 7 percent per year. For homeowners with a fixed-rate mortgage, their monthly payment will be fixed for the life of the loan.
All real estate is local. With local home prices and mortgage interest rates at historically low levels today, even those who advocate renting acknowledge that Southern California is one of the places where you now have a strong financial incentive to buy a home – even without a tax credit.
That being said, owning a home is a responsibility. It’s not for everyone.
If you’re thinking about buying San Diego real estate, contact Travis Breton with Summit Realty Group at 760-470-2752 or visit http://sdhomesource.com to help you evaluate your options.
A Little Guidance for Your Home Search
Whether you’re a first time buyer, buying up, or downsizing, buying a home in San Diego CA can seem a little stressful at times. Here are a few tips to help keep you on the right track to getting the right house with minimal stress.
Always research before you look, like you’re most likely doing right now. Decide what features you most want to have in your San Diego home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get pre-qualified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford or are not prepared to make an offer on.
Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.
Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of San Diego home you’ll buy as well as the type of mortgage terms that will best suit you.
Insist on a home inspection from a qualified professional. If possible, get a warranty from the seller to cover defects for one year.
Get help from a REALTOR®. Hire a San Diego real estate professional who specializes in buyer representation. Unlike the listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. As a buyer’s representative, I do not charge my home buyers any fees or commissions for my services. For more information about buying or selling San Diego real estate contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com
Small Projects Have Big Impact When Selling
It’s a buyer’s market, and even small things can set your San Diego house apart from the competition. The problem is, over time, homeowners no longer see small projects like fixing a hinge on a seldom-used cabinet door or cleaning scuff marks off the back door.
But in a home buyers eyes, those little projects put questions in their minds, not only, “how much will these repairs cost?” but also, “if the little things aren’t done, are there big things that haven’t been done as well?”
A clean and clutter-free San Diego home is a great start. But it’s important to take a more critical eye to your home before listing it for sale. If you can afford it, have a pre-listing home inspection to identify problems ahead of time. Fix the problems that you are able to, and be prepared to disclose and/or negotiate the ones you can’t fix up front. Here are five areas where a small fix can make a big impact on how a buyer sees your San Diego home.
Heating and cooling is a critical component to San Diego homes and one of the most costly repairs to make on a home. A heating and cooling system that appears to poorly maintained can raise concerns with potential San Diego home buyers. Be sure to replace the furnace filters to ensure optimal air flow to the HVAC system. Clean all the air vents and ceiling fan blades.
Electrical. Replace any burned out light bulbs in all fixtures inside and outside. Replace cracked or missing outlet covers and switch plate covers. These are simple, inexpensive items that improve the overall appearance of any home for sale in San Diego.
Walls and windows. Repair and touch up dings, scratches and holes in the walls, even small holes from picture hangers. Clean scuff marks off base boards, walls and doors. Clean the windows and vacuum the window tracks inside and outside to get rid of debris.
Flooring is an item that every San Diego home buyer immediately notices. Shampoo the carpet if it is still in good condition. Where possible, replace broken floor tiles or boards. If the carpet is looking worn or stained, get estimates to replace it so you will be armed with information if the buyer tries to negotiate a concession.
With all the recent news and health concerns about mold, it is important to have the plumbing in tip top condition. Fix any leaky faucets or pipes. Besides being clean, bathroom fixtures should function properly. Check the faucets for water flow and temperature. Make sure the toilets flush properly and don’t “run.”
Finally, if you started home improvement projects that you haven’t quite finished, finish it! Not only will it be one less thing on your to-do list, it could improve your chances of standing out to potential San Diego home buyers.
Looking to buy or sell San Diego real estate? Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com
How to get an offer on your home
Selling your San Diego home can be much easier if you follow a few basic guidelines. Even in a slow real estate market you can get a good offer in a minimal amount of market time if you are a realistic seller.
The most important factor in getting a good offer on your San Diego home (in my opinion) is to price it right from the get go. Set a price at the lower end of your property’s realistic price range. Pricing your San Diego home at the upper end of the property’s price range “hoping to leave room for negotiating” can deter potential buyers from viewing your property if there are similar lesser priced property’s in your neighborhood.
Prepare for visitors. Get your San Diego house market ready PRIOR to listing it in the MLS and showing it. You want your home to be ready to show the day it hits the market. Listing your San Diego home in the MLS and stating it cannot be shown for a week due to clean up will only frustrate potential buyers and lead them to believe the home is in poor condition.
Be flexible about showings. It’s often disruptive to have a house ready to show at the spur of the moment but the more amenable you can be about letting people see your home, the sooner you’ll find a buyer. Having a lockbox on the property, even if you want to be present during every showing is also a big plus. A San Diego Realtor who is preparing a list of properties to show their client may choose to skip your property if they think it will be difficult to show due to not having a lockbox present.
Anticipate the offers. Decide in advance what price and terms you’ll find acceptable. A quick response back to the potential buyer will keep them interested in the property.
Don’t refuse to drop the price. If your San Diego home has been on the market for more than 30 days without an offer, you should be prepared to at least consider lowering your asking price. Despite declining prices, there are still a lot of San Diego home buyers out there. If you have little to no showings and no offers with-in the first 30 days, your list price is most likely too high.
Looking to buy or sell San Diego real estate? Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com
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