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.comNorthCountyHomesInfo.com
Posted by San Diego Realtor, Debbie York at 6:57 PM 0 comments
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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:
  1. Claims that bad credit is not an issue
  2. Prepayment penalty
  3. Larger than normal loan charges
  4. Rate gouging by brokers
  5. Loans without escrow accounts for taxes and insurance
  6. ARM loans that only go up and not down
  7. 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.comNorthCountyHomesInfo.com
Posted by San Diego Realtor, Debbie York at 6:12 AM 0 comments
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Tuesday, January 25, 2011

Vista Townhome For Sale: 703 Copper Dr. Vista, CA

2bd.townhome with direct entry 2 car garage.Home faces beautiful greenbelt and has its own patio.Master bedroom has a balcony that overlooks the greenbelt with a view to the east overlooking Vista. Laminate flooring in main areas, carpet in bedrooms and stairs. Newer tile floors in both baths. Complex is FHA approved, 75% owner occupied and HOA is in good shape. Rare to find 2bd, 2car attached garage w/community pool under $200,000. Approved Short Sale at 170k. Needs some TLC.

Property Details:
  • 2 Bedrooms
  • 1 1/2 Bathrooms
  • Sq Ft: 1,225
  • 2 Stories
  • Price: $159,000.00


Front Entrance


Kitchen


View from Staircase

View from Balcony


For More Information About this Property Call 866.230.7210

Respectfully,

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

760-505-6474

dyork@coldwellbanker.comNorthCountyHomesInfo.com
Posted by San Diego Realtor, Debbie York at 2:22 PM 0 comments
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Saturday, January 22, 2011

Don't Lose Your Capital Gains Exclusion, It Could Cost You

Currently I’m working with a couple selling a home that is rented to their son and soon to be daughter-in-law. This was their primary residence for 14 years until they purchased another home 2 years ago. Their accountant asked if they had planned on taking the principal residences capital gain exclusion.  My client said they would like to but didn’t know what is was or how it worked. 
The requirement is that they must have owned and used the home for two out of the last five years (730 days), but that didn’t mean 2 years concurrently.  For my clients, it means the home needs to be ready to sell; fresh paint, popcorn on ceilings removed, landscaping upgraded, priced correctly, sold and closed within six months."

The motivation for the seller was simple...minimizing or eliminating the unnecessary payment of taxes.  Their gain in the home should be around $100,000; not qualifying for the exclusion would cost them $15,000 in long term capital gains tax.  That is a lot of money to leave on the table for the government to keep and decide how it should be spent.
Getting your home sold for the most money is something most good agents strive for; protecting your best interests is another.  I help people understand the tax advantages, financing alternatives and investment aspects of homeownership.

Respectfully,

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

760-505-6474

dyork@coldwellbanker.comNorthCountyHomesInfo.com

Posted by San Diego Realtor, Debbie York at 9:22 PM 0 comments

Wednesday, December 22, 2010

Selling your San Diego County Home in 2011

A new year is right around the corner and after the hustle of the holiday season, the real estate market usually begins to ramp up.  So now is a great time to begin thinking about listing your San Diego home for sale.  Many buyers will enter the market come January and it’s a great idea to have your home prepared for sale.

Learn How to Sell Your San Diego County Home
One of the best things sellers can do, especially in today’s market, is to stage their home.  Staging helps buyers see the best assets of your home by highlighting its amazing features and minimizing any drawbacks.  A great San Diego realtor will be able to help you understand what buyers are looking for and can recommend small changes you can make in order to appeal to potential buyers.

Another issue sellers face is marketing their home.  Any great San Diego County real estate agent should give you a comprehensive marketing plan when you choose to list a home with them.  If they don’t, take pause and interview other realtors till you find one that can give you a real idea of how they plan to market your home.  There are lots of homes for sale, and your realtor needs to be working hard to make sure buyers are seeing yours instead of the competition.

On top of staging and marketing your San Diego County home for sale, make sure you talk with your realtor about pricing your home effectively.  Realtors know the market and know what homes in your neighborhood are selling for, so be sure to consider their advice on pricing.  A home that is overpriced will sit on the market for months, and in the end, the home usually does not sell or sells far, far lower than the sellers had originally hoped for.  So save yourself months of anguish and list appropriately to begin with.

January is right around the corner, so now is the time to get started if you are planning to sell your San Diego County home in 2011.  Contact me to find out how to stage your home for sale and what a professional San Diego real estate marketing plan should include.

Respectfully,

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

760-505-6474

dyork@coldwellbanker.com
 NorthCountyHomesInfo.com

Posted by San Diego Realtor, Debbie York at 3:18 PM 0 comments

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

Posted by San Diego Realtor, Debbie York at 9:26 AM 0 comments
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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

Posted by San Diego Realtor, Debbie York at 4:38 AM 0 comments
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