Posts Tagged ‘Cardiff Homes for sale’

Moving? Don’t Stop Decorating Your Current Home Yet

Saturday, October 29th, 2011

 

curb appeal Moving? Don’t Stop Decorating Your Current Home YetAre you anticipating a move? Are you planning to sell your house? Prepare to redecorate. And for good reasons.

Decorating changes you make to prepare your house for the real estate market can hasten its sale, increase the financial return and give you a head start on moving preparations.

A move means you face decorating adjustments in your present home as well as planning the personal décor for your new home. But decorating and accessorizing principles applied to market a house or condo differ from those applied when simply living in that same space.

In your present home, you need to depersonalize the décor and remove the stamp of your personal style. Instead of layering for warmth, a minimalist approach is recommended, which you’ll see in many model homes.

So gather your creative energy and decorating talents, shift into high gear and steer toward the goal of broadening the appeal of the home you are selling before you focus on your new residence.

 Broaden the Appeal of Your Home

Of course, you want the showings of your property to be positive. How can you make that happen? Well, start by assisting potential buyers in picturing themselves owning and living in your house. Remove your family pictures, trophies, monogrammed articles and signs at the door with your name on it. These accessories all convey that you live here. The buyers need to see the house as a home for them.

Buyers also need your help to visualize the intended use for the rooms they are viewing. If your dining room is currently being used as an office, it’s time to turn it back to its intended use. Yes, home offices are a positive feature, but it is better to situate it in a smaller bedroom rather than offer a home with no dining room. This principle applies to all rooms that are currently being used in ways contrary to a standard floor plan.

Get Rid of Clutter

The next step is to reduce visual distractions. Collections of figurines, dolls, ducks and personal clutter may make you more comfortable living in your home, but they divert the buyer’s attention from where you really want it to be.

Adopt that minimalist style and start your packing process. This will encourage the buyers to focus on the positive features of the home rather than your possessions.

How do you bring attention to those positive features? Effective furniture placement is the simplest way. For example, to showcase your fireplace, the preferred arrangement would have your sofa and chairs flanking the sides of the fireplace rather than facing it directly. This will create a direct line of vision to this attractive element.

Next, open your fireplace screen and place greenery in the firebox to add depth and appeal. Creatively placed artwork can also enhance a focal point. Also, try positioning your plants and greenery near windows as it will help draw the outside in and visually enlarge the room. Use placement to show off all the dominant focal points. Remember to open your window treatments to allow maximum light as well as feature attractive views.

Knock! Knock! Who’s There?

Your front door is the most important place “in” your house. Buyers pause there the longest and gather clues as to what to expect inside. Entice them! Add healthy plants with bright color. Add a welcome mat that is new and fresh. Place a lovely, seasonal ornament on the door (which you have cleaned to a shine or applied fresh paint).

Do you have a porch? Add an inviting chair. First impressions count and this is an important spot that must be remembered and receive your best decorative touches.

The Most Bang for Your Decorating Buck

In many cases, investing a little decorating money when marketing a home is recommended. The best place to start is to freshen the paint on your walls. The impact on prospective buyers can be amazing. Choose a neutral paint color of ivory, beige or light taupe. Millwork and trim, if painted, should be a lighter shade to show some contrast.

Is your carpeting showing soil and wear? Sometimes professional cleaning and restoration will make a sufficient difference. However, does your rug color have broad appeal or does it make a strong personal statement? Consider installing new carpet. It is normally very cost effective.

Again, the color should be a neutral one that is in the same family as the wall paint. Coordinate color choices with any permanent surfaces in the home, such as tile floors or counter tops. If you are lucky enough to find hardwood floors under the carpet, restore them rather than recarpet. Hardwood floors definitely increase the value of the home.

If this whole process seems daunting, you can always reduce your anxiety and stress by hiring a professional like me to assist you.  Relax…I’ll handle the details!

Fannie Mae to offer 3.5 percent buyer assistance

Thursday, April 14th, 2011

thumbs fanniemae Fannie Mae to offer 3.5 percent buyer assistanceFannie Mae announced that homebuyers purchasing a Fannie Mae-owned HomePath property will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011; and the sale must close on or before June 30, 2011 to be eligible for the incentive. Additionally, buyers must reside in the home as their primary residence (sales to investors are excluded).
“Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover,” said Terry Edwards, Executive Vice President of Credit Portfolio Management. “Since interest rates remain low, the incentive will go a long way toward helping even more families buy a new home so this is a great time for Fannie Mae to offer some assistance.”
All Fannie Mae-owned HomePath properties are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information, and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

Cardiff By The Sea Single Family Residence Trend Report

Friday, March 18th, 2011

90-day stats for Single Family properties in
CARDIFF BY THE SEA, CA92007 as of May 11, 2012
Median List Price:$990,415Average List Price:$1,417,373
Total Inventory:28Price per Square Foot:$400
Average Home Size:2,307Median Lot Size:60,515
Average # Beds:3.57Average # Baths:3.19
Homes Absorbed:2Newly Listed:2
Days on Market:138Average Age:30

 Cardiff By The Sea Single Family Residence Trend Report

Wells Fargo lowers credit score requirement for FHA mortgages

Wednesday, February 16th, 2011

Wells Fargo recently announced that effective Jan. 15, 2011, it will accept FHA-insured mortgages for borrowers with credit scores as low as 500.  For borrowers with credit scores ranging from 500 to 579, a 10 percent down payment is required, and the down payment may not be a gift or be part of a down payment assistance program.  Borrowers with credit scores of 580 to 599 are required to put down 5 percent, and the down payment may not be a gift or part of a down payment assistance program. Borrowers with a credit score of 600 or higher are required to have a 3.5 percent down payment, and a gift is acceptable.  For all borrowers, seller concessions are limited to 3 percent.

ONE COMMON BARRIER TO SELLING A HOME
THE HOUSING MARKET IS DOWN. The Federal Reserve recently noted that after losing ground in the spring, Americans’ wealth grew 2.2% throughout July-September, and household net worth rose to nearly $55 trillion. But despite this, the value of real estate holdings sank 3.7%. It’s true, the real estate market truly hasn’t fully recovered, and it would be disingenuous to sugar-coat it and say that you’ll easily get your ideal asking price in a week if you sell. But still, too many people read the second statement above—home prices are down—without taking it in stride with the first: things are improving overall. A lot of us focus on bad news without looking at the good. Home values have not fully rebounded. But the increase in Americans’ wealth means there are more people with cash freed up to buy. Also, these figures don’t take geographical areas into account. Your area might be doing better than the national average. The best way to know what’s best for you is to ask a trusted real estate professional. Communication is the key to success, rather than hiding when you see a negative headline.

FHA “ANTI-FLIPPING” RULE EXTENDED

Wednesday, February 9th, 2011

The Federal Housing Administration (FHA) has extended its 90-day “no flip” rule on recently rehabbed properties for another year. The ruling, which allows investors who acquire foreclosed properties at below-market value to be exempt from waiting the customary 90 days before reselling them, was set to expire at the end of January 2011. Vicki Bott, deputy assistant secretary for single-family housing at the FHA, said that first-time buyers have responded overwhelmingly to the opportunity to buy “turnkey” renovated homes with low down payments and they have performed well on their mortgage obligations.
The 90-day waiting period originally was put in place to protect FHA borrowers against predatory practices of flipping where properties were quickly resold at inflated prices to unsuspecting borrowers. Bott said that while the FHA is concerned about flipping in general, they have not seen any of the fraud problems, defaults and re-foreclosures that cost the agency millions in insurance payouts in earlier years.

Pacific Station In Downtown Encinitas Now Open For Sale

Saturday, February 5th, 2011

After five years and a cost of nearly $40 million, Pacific Station Flat’s, Loft’s and Town Homes are now on the market. Located on the 101 just north of The Luencinitas Pacific Station In Downtown Encinitas Now Open For Salemberyard, the architecture is an Encinitas inspired eclectic mix of two story Loft’s and Townhomes and single story flat’s that range from 600-2400 square feet. You can even buy one for an office. Within walking distance of Encinitas restaurants, Moonlight Beach, Cottonwood Park, specialty shopping, new public library and the Coaster Train Station. This unique project creates a synergistic environment which will only increase when the nearly completed Whole Foods opens. With only 47 units only a select few will have the opportunity to live in Encinitas’ premiere lifestyle destination. Call or email me at rob@robdennyhomes.com if you would like to see one of these highly detailed and varied architecture homes today.

Where’s The 2011 San Diego Real Estate Market Headed?

Monday, January 24th, 2011

Every Realtor gets asked this question on a daily basis. I hope by now you realize that I am not heavy pressure and I don’t believe in sending you panic emails that “if you don’t buy now, you’ll miss out on the deal of a lifetime!” This is why last month when I started hearing and reading ads about having to buy now because interest rates are going to continue to rise I thought “really, that’s not what history or current numbers say” which is what I wrote you in last months Newsletter. Interest rates have fallen from there high of 5.125% in December to 4.75% today. Still not the 4.25% we saw in October (which I wrote we may never see again) but not even close to the 6% so many were “hard sales” people were predicting.
I love the internet. The information I can find not only for my business but reviews on things I want to buy, vacation destinations, places to take my six year old godson, it’s all right there. The one thing I do not like about the internet is that anyone can blog, even the biggest idiots in the world. I read an article from a guy in Texas that predicts the San Diego market was going to drop in 2011. This is the type of misinformation that too many people read and some how think it has credence. The best way for you to keep track of the market you care about is with a local Realtor. My feeling is we will continue to see the same very slight bump up in prices in most areas of our market that we saw last year. The craziness of 2004-2006 will probably never come back and if it does, it will take at least 10 years. But when you see reports of the slumping housing market, all I can say is look at the numbers that matter. We’re not in Riverside, New York or Chicago for that matter. The only thing that should matter to you is the area you want to buy or sell. I’m happy to give you all the details for an informed decision, just ask.

I broke down North County zip codes (if you need other zip codes just email) to compare 2010 and 2009. I feel this gives you a good view of what our market is doing.

Zip Code Property

Type

2010

Unit Sales

2010

Average

Price

2009

Unit Sales

2009

Average

Price

$$$ %

Increase/

Decrease

92008 Attached 88 $424,614 90 $441,745 -.04%
92008 Detached 130 $696,539 134 $640,235 +.08%
92010 Attached 70 $337,556 79 $317,442 +.06%
92010 Detached 107 $557,659 125 $507,140 +.09%
92009 Attached 244 $397,712 226 $318,389 +.20%
92009 Detached 480 $742,233 423 $735,242 -.01%
92011 Attached 68 $429,739 81 $412,823 +.04%
92011 Detached 193 $780,129 197 $749,606 +.04%
92024 Attached 136 $443,249 142 $389,726 +.12%
92024 Detached 353 $926,721 340 $879,904 +.05%
92007 Attached 44 $511,611 40 $548,723 -.07%
92007 Detached 61 $980,544 57 $1,004,004 -.02%
92075 Attached 70 $627,210 87 $606,411 +.03%
92075 Detached 77 $1,277,500 67 $1,303,008 -.25%
92014 Attached 41 $528,487 46 $642,508 -.18%
92014 Detached 89 $1,750,502 130 $1,906,313 +.26%
92130 Attached 240 $408,063 265 $398,259 +.02%
92130 Detached 382 $1,034,747 380 $982,441 ->25%
92067 Attached 6 $772,333 4 $905,090 -.15%
92067 Detached 160 $2,541,206 105 $2,882,678 -.12%
92056 Attached 229 $230,479 270 $196,595 +.15%
92056 Detached 424 $356,220 521 $339,101 +.06%
92078 Attached 212 $283,991 193 $265,579 +.06%
92078 Detached 353 $485,249 473 $480,682 +.005
92069 Attached 121 $148,254 156 $147,370 -.08%
92069 Detached 340 $372,312 375 $359,035 +.04%
92084 Attached 46 $164,042 68 $143,666 +.12%
92084 Detached 272 $340,449 374 $343,579 +.05%
92083 Attached 88 $161,499 83 $147,414 +.09%
92083 Detached 246 $263,279 335 $247,042 +.06%
92025 Attached 78 $138,428 122 $132,931 +.04%
92025 Detached 310 $378,880 359 $319,640 +.16%
92026 Attached 146 $143,829 222 $123,019 +.14%
92026 Detached 424 $361,702 511 $335,212 +.07%
92054 Attached 160 $409,328 151 $305,180 +.25%
92054 Detached 191 $468,474 253 $366,116 +.22%
92057 Attached 293 $135,795 366 $146,910 -.08%
92057 Detached 495 $340,358 675 $318,951 +.12%
Totals 4767 21,509,322 8525 21,289,709 +.01%

If you would like to be added to my m0nthly newsletter, email rob@robdennyhomes.com

Do-It-Yourself Interior Painting Is Like Money in the Bank

Monday, January 24th, 2011

Trying to decide whether to do some home remodeling this year or leave your money in the bank? You can do both if you remodel with paint. The key, of course, is investing some sweat equity.
Do-it-yourself interior painting is a great way to “earn” money. Since painting a room is usually a two-day proposition, if a contractor-applied paint job costs $500 in your area, you’re essentially paying yourself $250 a day to paint.
Absent the labor cost, do-it-yourself interior painting is downright thrifty. Your only outlay is for paint, application equipment like brushes and rollers, and some miscellaneous expenses for things like tape and a drop-cloth. Total cost will probably be less than $100 a room.
Ask some questions and do a little research regarding preparation of the surface to be painted and the very best paint and tools for the job.
So if you think you’re up to the job, put yourself to work doing your own interior painting. You’ll be rewarded not just with the money you save, but also with the satisfaction of a job well done.

Wells Fargo to Modify California Mortgages to the Tune of Two Billion Dollars

Wednesday, January 19th, 2011

Wells Fargo & Co. has agreed to modify the mortgages of nearly 15,000 California homeowners who teeter on the brink of foreclosure under a $2 billion deal with state officials. San Francisco-based Wells Fargo and the California attorney general’s office announced the settlement in connection with “pick-a-pay” loans originated by Wachovia and Oakland-based World Savings. Wells Fargo didn’t originate the loans, but was saddled with the World Savings loan portfolio when Wells Fargo bought Wachovia in 2008.
Under the “pick-a-pay” program, mortgage borrowers could pick the level of their monthly payment during the early years of their loans. As the loans matured, their payments sometimes would reach levels that outpaced the ability of borrowers to make the monthly mortgage.
Under the settlement, Wells Fargo will offer affordable loan modifications to an estimated 14,900 California borrowers with pick-a-pay loans made by World Savings or Wachovia.
Many of the modifications will include significant principal forgiveness. The total value of the modifications mandated by the settlement is projected to be more than $2 billion.
About 60% of the pick-a-pay portfolio that Wells Fargo inherited is in California.
Wells Fargo officials said they hope that homeowners who receive letters from the bank inviting them to begin a loan modification process will contact the financial firm.
Maybe selling the property is the right next step for you.

Seller Do’s and Don’ts

Monday, October 18th, 2010

FOR+SALE+SIGN 1 150x150 Seller Do’s and Don’tsIt would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-fFOR+SALE+SIGN Seller Do’s and Don’tsilled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.
While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for sellers:

DO’S:

Be flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.
Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
DON’TS?

Don’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.
Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?
Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.