North San Diego County Real Estate News: Home Buying Tips

Showing posts with label Home Buying Tips. Show all posts

Wednesday, October 7, 2015

Welcome to Debbie York's North San Diego Real Estate Blog

Buyers, Sellers, Investors, Browsers, Journalists, (and even you ya Lookie Loo), please use this feed for real time updates on North San Diego County Living.

Our expert Realtors will answer tough questions about today's San Diego real estate market.

You NEED the best tips, tricks, tools and resources for buying, selling, searching, financing and learning about the San Diego County community. You'll find that and more here!

Search our extensive blog of articles and links to make your relocation simple and customized to fit your needs with an area specialist like Realtor, Debbie York.

Don't forget to start your search for available properties or have your desired homes emailed to you as they become available.

Get a free homes value estimate, search our unique San Diego foreclosure database, or see if you qualify for a loan modification.

It's all here on our North San Diego County Real Estate Blog.

But you're busy, we understand. Feel free to just contact me right away at 866-230-7210.
Let's take some time to answer your questions!

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
Certified Distressed Property Expert

760-505-6474

dyork@coldwellbanker.com
NorthCountyHomesInfo.com

Monday, July 18, 2011

Do the Math First

There are homeowners that would like to have a larger/nicer home but are patiently waiting for the market to improve. A frequently heard objection is that they can't sell their home for what they feel their home is currently worth.

Buying up in a down market is actually advantageous because while you might get less for the home you're selling, you're also getting the larger home for less. For instance, if you had to sell a $200,000 home for a 10% discount, you might feel that you left $20,000 on the table. However, buying a $300,000 for the same 10% discount would put you $10,000 ahead on the sale and purchase.
The other obvious matter is that when the mortgage rates increase while you're waiting for the market to improve, it dramatically increases your cost of housing with higher payments. The cost of housing is affected by price and mortgage rates.
To accurately evaluate your current options, you need facts and assessment tools that will provide you the information to make an informed decision.

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
DRE 01274157
760-505-6474

dyork@coldwellbanker.com NorthCountyHomesInfo.com

Wednesday, March 9, 2011

Hiring the right team when buying a home is essential in getting the best home and the best loan for your situation. Finding the right lender is where the home buying process begins.

Several years ago I was refinancing my home and I went to the Escrow Company to sign my loan documents. I was so fortunate to have an Escrow Officer that took the time to go over the closing statement and answer my questions regarding the charges. What the Loan Officer quoted me for lender fees he was actually double, when compared to the closing statement.

Another concern for buyers and their agent is selecting a lender that over promises and under delivers. In some transactions there is a per diem fee if you do not close on time. In one case a buyer decided to use his own mortgage broker because he wanted to help out a friend. The lender under further investigating had never closed a loan and it cost the buyer $3000 in extra fees for being 30 days late in closing.

In most Residential Real Estate transactions the seller and the buyer are represented by their Real Estate Agent. In those situations, there is a fiduciary relationship created that requires the agent put the client's interests above their own.

There is generally no such relationship between buyers and lenders. Some of the housing crisis issues may have been avoided had the lenders been more concerned for the buyer's best interests.

The following are a few warning signs that should cause a buyer to do much closer investigation:

Claims that bad credit is not an issue
Prepayment penalty
Larger than normal loan charges
Rate gouging by brokers
Loans without escrow accounts for taxes and insurance
ARM loans that only go up and not down
Initial loan to secure property with plan to replace it later

As a real estate professional, I can recommend a lender who is experienced in your market and has a history of providing good service. A real estate professional can be a good intermediary between you and the lender.

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
Certified Distressed Property Expert

760-505-6474

dyork@coldwellbanker.com NorthCountyHomesInfo.com

Monday, December 20, 2010

Shadow Ridge Homes Grow in Value

There are many reasons to buy a home . . . great schools, a growing family, a job transfer. No matter what the reason, buying a home is a huge decision and choosing the right community is not only vital to your long term investment, but also to your happiness.

Shadow Ridge Homes Rise in Value

We all know the real estate market overall has had a tough time these past couple of years. Home values around the nation have dropped significantly. But did you know that there are actually communities that are bucking the trends and actually increasing in value?

Even here in the San Diego real estate market, we are seeing increasing values in many homes in San Diego County. One of the hottest communities in the San Diego area is Shadow Ridge. Values in this community are up 15% from this time last year. This community, which is in the Vista area, is a desirable area for families. Homes are affordable and the schools get great reviews.

If you’re searching for a San Diego County home, be sure to check out this community while home prices are still reasonable. There are lots of homes in almost every price range. Check it out by searching the 92081 zip code and give me a call if you want to take an in person tour of any of the homes you see.

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
Certified Distressed Property Expert

760-505-6474

dyork@coldwellbanker.com
NorthCountyHomesInfo.com

Monday, December 13, 2010

Making Money With San Diego Rental Properties

While it’s true that the real estate market, even the San Diego County real estate market, has been hit by rough times, it’s still a great option for investing. The San Diego real estate market is very unique and it, in my opinion, still offers a great option for people looking to build wealth in the long term.

Making Money With San Diego Rental Properties

Take renting for instance. In San Diego, land is at a premium. That is essentially what a home buyer is paying for – the land. So when home prices start going down, home values do not take as large of a hit as in many other areas. The land the home is sitting on is often far more valuable than the structure on it. There is only so much land that can be developed, so naturally, even though the San Diego real estate market ebbs and flows, the value of land remains high. That’s why purchasing a San Diego County home and renting it can be a great investment – because your tenants cover the costs of your mortgage, and each year you own your rental property, the value of your home and land increase.

Experts agree that real estate is still one of the soundest investments you can make – yes, even over the stock market. And in today’s market, where you can find great deals on homes that will only go up in value, it is a great time to start investing. Think about the possibilities. You can buy a San Diego County investment property at a rock-bottom price and then rent the home to cover the mortgage. For most San Diego real estate investors, they can actually make money immediately through rental properties.

Real estate prices are at their lowest levels in years and now is a great time to think about building wealth through real estate. Get started growing your money today - Search for San Diego County homes to get started or call me at 866-230-7210.

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
Certified Distressed Property Expert

760-505-6474

dyork@coldwellbanker.com
NorthCountyHomesInfo.com

Monday, October 25, 2010

North San Diego County Real Estate: Waiting for a Missed Opportunity?

Here is a little quiz to test your local market knowledge. Real Estate Markets are regional, it doesn’t really matter to home buyers or sellers in North San Diego County what the market is doing in Chicago or Palm Beach.

Talk to Realtors who are experts in their local market. Major news stations such as Fox News and CNN continue to paint a bleak picture of the Real Estate Market, but there is an upside.

When is the best time to buy? Warren Buffett said:

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”

Take the quiz below to test your market knowledge.

1. How many homes were sold last month (September) in North County which includes Bonsall, Fallbrook, Escondido, San Marcos, Poway, Rancho Penasquitos, Ramona, Carlsbad, Encinitas, Solana Beach, Rancho Santa Fe, Del Mar, Cardiff by the Sea, Vista and Oceanside?

a. 1276
b. 4439
c. 721
d. 2291

2. What was the average number of days on the market? (Hint last month it was 74)

a. 99
b. 75
c. 22
d. 80

3. How many active and contingent listings for Single Family Detached Homes in North San Diego?

a. 10,657
b. 4774
c. 6010
d. 7172

The correct answers are: 1-a, 2-d, 3-b

What does this mean... OPPORTUNITY!

Sales volume is down, market time is up and inventory is also up slightly. Will the prices go down more, will the interest rates remain at historic lows, when will the market come back?

No one can give you a definitive answer, not your astrologist, a crystal ball, palm reader or your San Diego County Realtor. The bottom of the market will pass before anyone realizes it. If interest rates go up one point, that could mean hundreds of dollars more in mortgage payments each month.

If you are paying $2200 a month or more a month for rent, wouldn’t it make more sense to be paying for your own mortgage rather than your landlords? If you have a good job, 3.5% for a down payment, savings for closing costs and reserves, you are missing an opportunity to invest in you and your family’s future. Just to illustrate this point I roughly calculated your monthly payment to be approximately $2400-$2500* per month (principal, interest, taxes and insurance) for a $400,000 home with 3.5% down, interest rate at 4.5% paid over 30 years.

Now is the time to invest in your future, please email me at dyork@coldwellbanker or call 760-505-6474 to get started.

Statistics courtesy of HomeDex™ is prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D., California State University, San Marcos.

*Monthly payment is an estimate only, actually monthly payments will vary. Types of financing that best fits your needs and interest rates should be discussed with a knowledgeable licensed lender.

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
Certified Distressed Property Expert

760-505-6474

dyork@coldwellbanker.com NorthCountyHomesInfo.com

Monday, October 18, 2010

What Your Agent Didn’t Tell You About Buying A Home in San Diego

My Grandfather recently passed away after a long and amazing life. He and my grandmother were married 68 years and they lived in the same home for over 50 years. Their home was a modest bungalow style with 2 bedrooms, 1 bathroom, built in Oakland, CA in the 1920’s. This home saw plenty of housing market corrections throughout the years just like San Diego and other parts of the country.

What made this house special was their home was the center and the heart of the family. Every Christmas Eve, Birthday, Thanksgiving was spent there. As young children we were in awe of the generations of wonderful women who gathered in the tiny kitchen cooking their favorite recipes. During the summer my Grandfather would barbeque, we would listen for hours to his stories of his youth and how he met my grandmother.

After his funeral the family gathered at the house one last time. We talked about the Grandparents and the decades of wonderful times spent in their home. I will be forever grateful for the love and memories we all shared in this tiny home throughout the years. It was here we all learned what family was about.

On October 1 the home was sold, it was time to let a new family create their traditions and memories, in this house. It is my hope they find the love and comfort that this home provided for so many generations.

What your agent didn’t tell you was buying a home is not about; home prices going lower, getting a great deal, the economy, interest rates, or foreclosures. Buying and owning a home is about providing a place of love, laughter and creating memories that will last a life time.

Remember this when you are considering buying a home. Is it time for you to get off the fence?

Start creating your own home memories. Contact me to get the pre-approval process started or start your search for the San Diego home of your memory making dreams!

Respectfully,

Debbie York SFR, GRI, CNS
Coldwell Banker
Certified Distressed Property Expert

760-505-6474

dyork@coldwellbanker.com
NorthCountyHomesInfo.com