Summit Realty Group Sponsoring the CDPE Training Event in San Diego
Don’t miss the chance to take a Live CDPE Class in San Diego, CA on February 15th and 16th. Thousands of real estate agents have earned their CDPE Designation through the Charfen Institute Distance Learning Course, but you have the opportunity to attend a rare, local LIVE event.
Get face-to-face training and all your questions answered personally by experienced Realtor Instructors. Plus, you will have the opportunity to network and exchange referrals with other local San Diego real estate agents, who share the similar goal of helping homeowners to avoid foreclosure in your community!
In fact, for thousands of real estate agents working in today’s real estate market, the letters “CDPE” have become the doorway to an even better, more stable, more rewarding career than the go-go days of the real estate bubble.
-Automatically get listings from banks, mortgage companies and other agents because you’re the acknowledged expert in short sales
-Sellers and buyers turn to you because you’re the short-sale specialist in San Diego
-Choose which sellers you’ll work with instead of “begging” for the listing
-Have a step-by-step system in place for listing and closing San Diego short sales
-Close 8 out of 10 San Diego short sales you list… 50% faster than other San Diego agents
-Have the world’s leading team of short sale specialists backing you up when you have questions… plus ongoing training and online forums to keep your skills razor-sharp
-Become the “hero” for every San Diego homeowner you help to avoid foreclosure (plus family, friends and their business associates to boot!)
-Find yourself effortlessly generating an unheard-of level of loyalty, translating into years of referrals from San Diego homeowners, their families and their friends
-Use revolutionary techniques to capitalize on the “new normal” and never again waste your time on unproductive real estate marketing!
A Good Reason to Google Your Home Address
With virtually any type of information imaginable online, it makes sense to do regular internet searches for your San Diego homes address. There are many compelling reasons why it makes sense to do so, especially if it’s an address you’re thinking of renting out or selling, but one of the major reasons is to detect scammers trying to rent or sell your house.
Internet scammers have taken to running internet scam by ripping off home information and putting together fake listings offering other people’s homes for rent or lease-to-own. Craigslist.org is one of the more popular websites where internet housing scams can be found, but is not the only internet site out there where this type of fraud exists. They often list the San Diego home on extremely cheap and easy terms, then ask the would-be-buyer or tenant to please wire or send the deposit money overseas. These scams often come to light only after the homeowner or current resident notices bargain-hunters checking out the place. If you start getting an inordinate amount of foot traffic to your San Diego home, or someone knocking on your door asking if they can see the place, you may want to Google your home address. If you find a fraudulent listing, identify yourself as the San Diego home’s rightful owner and as the home’s rightful owner ask the offending site to take the scam posting down - stat!
Another home selling tip offered by Summit Realty Group, the future of real estate today!
Information provided by Ginger Wilcox - Head of Training at Trulia.
The Advantages of Buying A New San Diego Home
1. NO REPAIRS. With a San Diego short sale or REO, the previous owner may have stopped maintaining their property. That means buyers could end up with expensive repair bills. But new San Diego homes for sale often include builder warranties for workmanship, materials, and structural problems to help protect against large out-of-pocket repair expenses.
2. NO SURPRISES. With new San Diego homes, what you see is what you get. With an REO or San Diego short sale listings, what you might not see is what you get. New San Diego homes often come with many disclosures from the seller, though in reality, very little may actually need to be disclosed. For San Diego REO listings, not only is the bank exempt from some of the disclosure requirements for sellers under California law, but the previous homeowner may be long gone.
3. GUARANTEED QUALITY. New san Diego homes are usually built with modern conveniences and energy-efficient technology. They may also come with warranties for craftsmanship, appliances and more, to give buyers peace of mind. Short sale and San Diego REO listings may not come with warranties or upgrades and may not be available for inspection prior to purchase, so buyers could be in for some expensive surprises after purchase.
4. FRIENDLIER FINANCING San Diego new Homebuilders often have relationships with lenders that help buyers obtain financing for new San Diego homes with relative ease. For San Diego short sales and REOs, the property may have a lower price tag, but some buyers may run into difficulty getting financing.
5. SHORTER PURCHASE PROCESS. San Diego new Homebuilders usually have homes available for immediate occupancy or on a move-in schedule that’s convenient for buyers needed move-in dates. Negotiating a San Diego short sale can take several months — and there’s no guarantee the offer will be approved.
Download a Free Homebuyer’s Kit from Lennar Homes!
Information provided by Lennar Homes through C.A.R.
Mortgage Rates Inch Lower
NEW YORK – Mortgage rates remained below the 5% mark, with the benchmark conforming 30-year fixed mortgage rate inching lower to 4.95%, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.37 discount and origination points.
The average 15-year fixed mortgage stepped down to 4.14%, and the larger jumbo 30-year fixed rate reset the low point of the year at 5.40%. Adjustable rate mortgages were also lower, with the average 5-year ARM dipping to 3.69% and the 7-year ARM dropping to an even 4%.
Mortgage rates were lower this week, but the movement in mortgage rates continues to be tame. Mortgage rates have remained within a one-third percentage point band since mid-December. The Federal Reserve did little to rock the boat, holding interest rates steady and changing very little in the post-meeting statement.
Fed Chairman Ben Bernanke’s initial press release was a historic event, but uneventful. While the Federal Reserve confirmed that they will halt their bond purchases at the end of June, this has been widely expected and any resulting volatility in bond yields or mortgage rates is far from certain. Mortgage rates are closely related to yields on long-term government bonds.
The last time mortgage rates were above 6% was Nov. 2008. At the time, the average 30-year fixed rate was 6.33%, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.95%, the monthly payment for the same size loan would be $1,067.54, a difference of $174 per month for anyone refinancing now.
Read more: http://www.houselogic.com
Have the tax credits been extended for 2011?
On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This law extends the tax credits for energy efficiency into 2011, BUT at lower levels. The levels revert back to those in effect in 2006 and 2007, which were 10% of the cost of the improvement, up to $500, with a $200 max for windows, and several other set maximums.
Highlights:
- $500 lifetime limit. If you got over $500 in these tax credits from 2006 – 2010, you are not eligible for anything more.
- 10% up to $500 for insulation, roofs, and doors.
- Windows capped at $200, but qualification now ENERGY STAR
- Furnace and boilers capped at $150, and all furnaces and boilers must meet 95 AFUE
- $50 for advanced main air circulating fan
- $300 for air conditioners, air source heat pumps, water heaters, and biomass stoves
Tax Form:
For products “placed in service” in 2011, you need to file the 2011 IRS Form 5695 and submit it with your 2011 taxes (by April 15, 2012).
On the 1040 form the residential energy tax credit (from Form 5695) is claimed on line 52.
What you need to submit and save:
Save your receipts and the Manufacturer’s Certification Statement for your records. Submit Form 5695 with your taxes.
Rental rates climb as sale prices dip
HotPads: Demand for ‘low-risk’ housing rises
By Inman News, Tuesday, April 26, 2011.
Inman News
Rental listing prices nationwide jumped 7.4 percent in the last year while for-sale listing prices dropped 8.8 percent, according to a report from property search site HotPads.
The report is based on listings active on HotPads in April 2010 and April 2011. First-quarter data shows a reversal of the broader trend — rental prices fell 1.8 percent and sale price rose 3.5 percent — but the report emphasized that the first-quarter trend is likely attributed to seasonal patterns in the real estate housing market.
“We predict investors looking to ride the rental upswing will continue renting properties and will wait for home values to appreciate,” the report said.
“Increasing demand for rental properties is an indicator of a growing preference for low-risk housing options, which is closely linked to the broader economic uncertainty.”
Since April 2010, the national median list price of for-sale homes has dropped in every month except for March 2011 and April 2011.
The median rental listing price is more uneven month-to-month, but has shown a clear upward trend in the past year.
9 Unexpected Energy (and Money) Savers
Here are a few surprising and simple ways to cut your energy bill in your San Diego home this season. Give your pocketbook and Mother Nature a gift this season by taking advantage of these simple, surprising ways to save energy and money.
Put lamps in the corners: Did you know you can switch to a lower wattage bulb in a lamp or lower its dimmer switch and not lose a noticeable amount of light? It’s all about placement. When a lamp is placed in a corner, the light reflects off the adjoining walls, which makes the room lighter and brighter.
Switch to a laptop: If you’re reading this article on a laptop, you’re using 1/3 less energy than if you’re reading this on a desktop.
Choose an LCD TV: If you’re among those considering a flat-screen upgrade from your conventional, CRT TV, choose an LCD screen for the biggest energy save.
Give your water heater a blanket: Just like you pile on extra layers in the winter, your hot water heater can use some extra insulation too. A fiberglass insulation blanket is a simple addition that can cut heat loss and save 4% to 9% on the average water-heating bill.
Turn off the burner before you’re done cooking: When you turn off an electric burner, it doesn’t cool off immediately. Use that to your advantage by turning it off early and using the residual heat to finish up your dish.
Add motion sensors: You might be diligent about shutting off unnecessary lights, but your kids? Not so much. Adding motion sensors to playrooms and bedrooms cost only $15 to $50 per light, and ensures you don’t pay for energy that you’re not using.
Spin laundry faster: The faster your washing machine can spin excess water out of your laundry, the less you’ll need to use your dryer. Many newer washers spin clothes so effectively, they cut drying time and energy consumption in half – which results in an equal drop in your dryer’s energy bill.
Use an ice tray: Stop using your automatic icemaker. It increases your fridge’s energy consumption by 14% to 20%. Ice trays, on the other hand, don’t increase your energy costs one iota.
Use the dishwasher: If you think doing your dishes by hand is greener than powering up the dishwasher, you’re wrong. Dishwashers use about 1/3 as much hot water and relieve that much strain from your energy-taxing water heater. Added bonus: you don’t have to wash any dishes.
5 Cheap DIY Projects to Help Your Home Sell Faster
The San Diego real estate market is competitive and sellers need their listing to stand out. Hiring a San Diego real estate agent with a good marketing plan and being reasonable with the listing price will help the home get more showings, but doesn’t mean it will get an offer. These simple, yet inexpensive projects can help you get top dollar for your San Diego homes in a shorter amount of time.
Cleaning and decluttering the home always makes a big impact and is free to do. Uncluttering countertops, organizing closets and cabinets, and arranging shelves are all great places to start to help the home show it’s best. Make the home sparkle by dusting ledges, cleaning mirrors, cleaning the grout in tiled surfaces, and cleaning or polishing the wood cabinetry throughout the home. Be sure to also wipe down walls, doors, and light switches in the areas where they get used and touched a lot.
Dirty carpets can cause a potential buyer to turn right around and walk back out the front door. A simple carpet cleaning can have a high impact on how a home shows, and even how a home smells.
Dark rooms of a home tend to feel small and uninviting. Brighten a room by cleaning the windows, replacing dark or old curtains, or by updating light fixtures and replacing burnt out light bulbs. Be sure to move furniture and other objects from in front of windows as they can block sunlight.
Minor repairs can make big differences. Repairing or replacing leaking pipes and dripping faucets is important as buyers always fear the worst when they see these types of things in a home. Buyers always over-estimate repair costs and this will reflect in the price they offer for the home! Make sure plumbing and electrical fixtures are in good working order.
Get curb appeal fast by trimming trees and shrubs, replacing dead plants, keeping grass mowed, and sweeping walkways and driveways. Also consider adding color by planting small flowers in planters or near the entrance to make it more inviting.
These are just a few of the simple, inexpensive ways to keep a home at the top of the list of every potential buyer that walks through the door. The San Diego real estate market is competitive, so make sure your competing!
For more home selling tips and information on San Diego real estate contact Travis Breton at 760-470-2752 or visit www.sdhomesource.com
Window of Opportunity Has Opened
You may have heard that San Diego home loan rates improved, reaching some of the best levels so far in 2011. In fact, now is the best time in over a decade to take advantage of this wonderful situation. The San Diego real estate inventory levels are at a favorable level, making it easier to get into a home.
But there’s one important point you should understand…
The slowing in our economy is one of the main reasons rates have improved recently, but it’s important to note that the last time rates hit this level, they jumped significantly higher from here. What’s more, signs of inflation are beginning to creep into our economy, and that never bodes well for home loan rates. If you have thinking about buying San Diego real estate, now is a great time to jump in.
Getting preapproved for a San Diego home loan is easy and only takes a few minutes. Applying for a San Diego home loan doesn’t cost anything and is a good way to assess what you qualify for and if you are comfortable with the monthly payment. In may cases, people are pleasantly surprised at how affordable San Diego homes are in todays market. Being that it is still early in the year, there are still money available for San Diego first time home buyer programs which can help with down payment and/or closing costs, which can reduce out of pocket expenses significantly.
Contact Travis Breton to find out more about buying San Diego real estate or to get connected with a reputable San Diego home loans specialist.
Property Line Disputes Between Neighbors
One of the most common sources of aggravation is a neighbor. Most everyone has one and when they’re a problem, they’re a big problem. Boundary interactions with neighbors are controlled by California Codes. Unfortunately, the law is not completely clear.
Trees on The Property Line: The limbs and roots of your neighbor’s trees grow over the property line into your space. That’s easy, just cut off the limbs and cut through the roots. Right? Very Wrong. That’s how you make your lawyer rich. These disputes end up in Court and they are long and costly and your neighbor hates you. Try to work it out with your neighbor before you cut anything.
Look at the tree trunk. If the trunk is entirely on your land, you’re pretty free to do what you want. If the trunk is on the neighbor’s side, only trim limbs & roots on your side. You better be sure how you trim and where the property line really is. The California Civil Code provides for triple damages if you’re wrong.
Common Fences: Many people share a fence with their neighbors. Fences get old and need repairs. Also, fences are sometimes not on the actual property line and part of your land is on the other side of the fence. By law, neighbors must share maintenance costs of fences. Try to work out any disputes. Get bids from several contractors. Take photographs. If the fence is in the wrong location, the law makes little sense. Call me. If you are replacing the fence, your neighbor may have to share the cost.
Article by Law Office of Bernard A. Sherwyn
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