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6 reasons to purchase a vacation rental in San Diego

Lately, you’ve been thinking a lot about investing strategies. You have a small nest egg that needs to grow, but frankly you don’t trust the stock market. (If you’re like many investors, your 401(k) hasn’t fared well in recent years.) And while real estate has been somewhat of a rocky road in recent years, it’s still a solid long-term investment strategy—and clearly we’re in a buyer’s market. But you aren’t really interested in being a landlord. What to do? Christine Karpinski has a suggestion: Purchase a vacation home in San Diego and rent it out to tourists. “Vacation homes are almost always Continue Reading →

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Pending Home Sales Still On The Rise

Pending house sales improved further in December 2010, marking the fifth gain in the past six months, according to the National Association of REALTORS. The Pending Home Sales Index, a forward-looking indicator, increased 2.0% to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2% below the 97.8 mark in December 2009. The data reflects contracts and not closings, which usually occur with a lag time of one or two months. Lawrence Yun, NAR chief economist, credits great affordability conditions and economic improvement. Modest gains within the labor marketplace and the improving Continue Reading →

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San Diego Is The 7th Most Searched Real Estate Market!

In an effort to continue bringing good news the San Diego real estate market, I am very pleased to report that San Diego ranked as the 7th most searched real estate market by buyers and sellers online. This is a great accomplishment and proves the strength of the San Diego housing market. There is no denying that we are in one of the world’s most desirable places to live and demand in San Diego continues to be strong compared to other parts of the country.

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Real Estate Update

Pending home sales rose again in November 2010, with the trend over the past five months indicating a gradual recovery into 2011, according to the National Association of REALTORS. The Pending Home Sales Index, rose 3.5% based on contracts signed in November. This is a great forward looking indicator because a large percentage of those homes will close escrow in the coming months.

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New Study Shines Light On San Diego Housing Market

In an effort to bring more good news to San Diego property, and help bring others off the fence, I want to highlight a new study recently released by Fannie Mae. It finds that the majority of Americans, including those that currently own and those who are renting, do indeed aspire to be home owners.

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San Diego Short Sales Just Got Easier

San Diego Short SalesHere is a piece of good news for everyone. San Diego loan servicers taking part in the Home Affordable Foreclosure Alternatives Program (HAFA) are going to soon be held to stricter timelines for approving or rejecting short sales.

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Four Big Santaluz Lot Sales Nobody Knows About

Santaluz had a huge October without anyone noticing. Few people are aware of the fact that three vacant lots sold at $1,500,000 and another at $1,100,000. Yes I said vacant lots and all in October of 2010.

How could it be that nobody would notice sales of that magnitude?

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The Biggest No Brainer In The History Of Loan Defaults

What started off as an exciting project to build the biggest residential building in Downtown San Diego has now turned into a nightmare for the developers. Vantage Pointe has officially defaulted on their construction loan in the amount of $197.8 million.

But the truth is that it did not take a genius to predict this one. I mean you have to be kidding me! A 679 unit project where people pay hundreds of thousands of dollars to be packed into a building like Sardines? How did that sound like a good idea to anybody?

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The Federal Tax Credit Is Dead – Almost

In my opinion, anybody that purchased real estate for an $8,000 federal first time home buyer tax credit is buying for all the wrong reasons. There are usually far greater implications to buying real estate than $8,000, for better or for worse…

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Home Path Incentive To End May 1st

The Home Path incentive ends on May 1st. Only homes that close escrow before May 1st are eligible for the closing cost assistance and appliance incentive for Fannie Mae homes. Let this serve as your reminder that if you are looking to purchase a bank owned Home Path home you need to rush. More importantly you need to make sure to contact a Home Path approved lender. This really is a great opportunity that I hope many of you took advantage of.

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Alert: Upfront Mortgage Insurance Premiums To Increase April 5th!

FHA buyers should take note that as of April 5, 2010 upfront mortgage insurance premiums will increase. Insurance premiums are set to go to 2.25% from their current levels of 1.75%. This is significant change when you consider that the new rate will be 28.5 higher than the current upfront mortgage insurance premium on FHA loans.

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