Calling all first time home buyers or buyer’s in need of financing assistance.  The California Association of Realtors has developed a great tool to help you find down payment assistance in the community you are buying in.

Just visit downpayment.car.org, enter the property’s address to see if downpayment assistances is available in your preferred neighborhood.  With many of the programs about to be relished with the start of a new year, don’t wait.  You could help you and your family save thousands of dollars, and potentially afford a larger home, with this help.  Check out the diagram below, provided by the California Association of Realtors, or give me a ring today for help!

Remodeling your home or yard can be a huge undertaking.  While exciting, it can also be stressful and costly.  There are however some tips to help you succeed in your remodeling endeavors.  The number one rule San Diego Realtors use is to always obtain at least 3 quotes, in writing, from licensed contractors.  Not only will you have 3 different costs to examine, you will have 3 different perspectives on exactly how the contractor will approach the remodel.  This can be hugely informative and actually help to give you ideas.  It’s one of the best things you can do.

The Contractors State License Board also outlines several other tips and suggestions in the chart below.  You of course can give your local friendly real estate agent, Tami McCraw, a call for a few names and recommendations.  I’m happy to help!

In a recent study by the National Association of Realtors, or NAR, San Diego was found to rank #7 out of 20 cities in the US as some of the hottest real estate markets!  Of the 20 cities,  11 of the hottest markets were found to be in California.

Below is a chart of NAR’s findings.  Keep in mind, homes in these cities sell 29 to 48 days faster than other cities in the US.  From personal experience I can tell you even around the holiday season, homes in San Diego sell fast!  So don’t delay.  If you need help finding the perfect home for you and your family, give me a call today….I can help!

The old saying is true, “first impressions are everything”.  Many sellers who have moved out of their home, leaving it vacant for property showings, face a dilemma to stage or not to stage.  Most real estate agents agree, a home that appears “finished” and put together from the moment a buyer walks through the door will sell faster and for top dollar over a home that is un-tidy, vacant and/or in need of repair.  The chart below illustrates the impact of home staging and is provided by the California Association of Realtors.  A good real estate professional can help recommend reasonable, professional stager who will help get your home sold!  It is worth the additional money, often times, to avoid a long market time, carrying costs and risks of repair when a home is left vacant.  Even if you do not have a huge budget to work with, it is important to consider the impact partial staging and/or accessorizing can do to help sell your home.  After all, its human nature for most everyone to want the best priced home, in the best location and in the best condition possible.  A well presented home will appeal to a wider reach of buyers and hence allow you to sell your home in half the time!  Give me a call today….I can help!

Home prices steadily climb in San Diego and nationally.  With increased prices and increased interest rates, many buyers are forced out of the housing market making housing affordability a problem.  Many first time home buyers, who do not have cash for large down payments, can not afford the large housing payment which comes with a little down payment.  Surprisingly however, there are enough buyers out there who can, at least in San Diego, keeping demand for first time, well priced homes high.  Until demand weakens, or there is a shift in the economy, expect to see prices increase in the 3rd and 4th quarter in San Diego.  Demand is just too great.

A high credit score can greatly enhance your chances of getting a good loan at a great interest rate, which can save you thousands of dollars over the life of the loan.  That is because, lenders often price interest rates on individuals credit scores as well as their debt to income.  So, when preparing to purchase a home in San Diego, it’s very important to make sure you have the best credit score as possible.  The chart below, provided by the California Association of Realtors, debunks 6 common myths I hear often with first time home buyer’s in San Diego.  Because your credit score can cost or save you thousands of dollars, don’t go into a home purchase blindly.  It pays to do your homework.  Call me, I can help.

Owning a home is one of the great joys in life for it is a large canvas on which to create, to express yourself and ultimately to make you home a place to enjoy day in and day out.  However, home improvement projects can often become quite costly- fast.  So homeowners often like to know what are the best improvement projects to do to realize a return, if not profit, on resale.  The chart below, from the California Association of Realtors, illustrates the top 10 projects which stand the best chance of recouping when its time to move.

The average sales price for Single Family Homes sold in San Diego during the month of December bumped up slightly to $551,250 up $11,250 from November.  The average days on the market also rose from 45 in November to 53 in December.  While the sales price to list price ratio dropped slightly from 97.4% in November to 96.8% in December.

What does decrease in Sales to List Ratio mean for consumers? It suggests that the expectations between buyers and sellers are readjusting. Sellers are more likely to reduce their list prices and sell below the list price as the market competition wanes. Buyers are, on the other hand, in a better predicament as they do not have to compete with as many bidders as they did last year. All things considered, housing market appears to be moving to a greater balance.

 Most experts predict steady, continued growth in the 2015 San Diego housing market and interest rates to remain relatively low for San Diego home buyers.

Let’s keep our fingers crossed for a continued recovery, health in the market place and peace worldwide for 2015!

Lender Mediated Properties, also known as foreclosures, fell again during the month of December illustrating a steady decline in foreclosures throughout San Diego.  In December 2014, foreclosures made up just 23.9% of all homes and condos sold in San Diego.  This is down 4.1% compared to December 2013.  The greatest number of foreclosures in San Diego continue to be in the first time home buyer market; that is to say those homes priced from $250,001 to $500,000.  The banks now own approximately 2,181 properties in San Diego County.

Since 2012 there has been a steady decline of foreclosures in San Diego.  With the rebound of home prices, many homeowners now have enough equity to allow them to sell their homes and in many cases walk away with cash in their pockets.  Furthermore, many homeowners have been able to successfully attain loan modifications and in some cases balance forgiveness on seconds.

The trend of less and less bank owned properties throughout San Diego, has contributed and continues to contribute to our housing recovery.  As fewer Notices of Defaults, the first step in foreclosures, are filed, our neighborhoods and communities continue to benefit.  Demand for homes continues to be high as San Diego, along with many major cities throughout the U.S. recovers from the housing crisis.  San Diegians are lucky to live in a near perfect, beautiful location in Southern California.  Cheers to recovery!