Know what details are in an offer

Buyers need to be educated on what is found in the purchase agreement. Many seem to have the idea that an offer is just about writing in a price. Close of escrow date, inspection contingency, appraisal contingency, termite reports, repairs, home warranties, deposits, loan types, down payment and closing costs are many of the “terms” that make the difference between an offer getting accepted versus another. To make your offer as competitive as possible, try cutting down on as many time frames and expenses you are asking the sellers to cover. At the end of the day, the seller is looking at the bottom line not your “offered price”.

Agents with personality usually get the job done

Notice I said usually. That’s quite simply because no amount of personality will make a lowball offer attractive. They key here is to work with an agent who is somewhat well-known or at least well-liked among his/her peers. You’d be amazed at how many offer tie-breakers are decided based on who the agent on the other side is. After all, we are going to be working with that agent for the next 30 to 45 days and we’d like it to be enjoyable.

Know the comps

Most offers don’t get accepted because they are not realistic. Just because the list price is $300,000 does not always mean the seller will accept $300,000. Market value is what a ready, willing and able buyer will pay today. With so much competition, not only should you be aware of what homes have been selling for but also what we expect home prices to go. The key here is to have an agent who is up to date on his knowledge of neighborhood comparables, similar sold homes. This will prevent lots of heart ache in the long run.

I hope these tips will have you rethinking your strategy and get you into your new home soon.

524 Plaza Del Cid
Chula Vista, CA 91910

Stunning 5 Bedroom executive home sits on over .25 acre lot overlooking the canyons on an exclusive cul-de-sac street in Rancho Del Rey.

This property features a lagoon pool and spa with several waterfalls to enjoy the panoramic sunset views, custom cabinetry, granite counters, stainless steel appliances including a Vikking stove and built in Fridge.

Property has undergone extenssive remodeling including travertine tile throughought, cathedral ceilings wrought iron on the curved staircase, custom grand entry door and much more.

For details, pricing and availability call us: 619.512.0006

2608 Meadow Trail Ln
Chula Vista, CA 91915

Welcome home! Perfect Eastalke Trails 3 Bedroom 2.5 Baths + Loft home with mountain views and in great school district.

Offered between $439,000 – $459,000. Features new designer paint throughout, upgraded flooring, island in kitchen, A/C, stamped concrete with built-in BBQ, synthetic turf and much more!

For details and availability call us: 619.512.0006

Share your opinion! What other improvements would yield a great return?

New help for underwater homeowners
The Orange County Register
As of March 1, struggling borrowers who relinquish their homes can live in them
temporarily without having to make mortgage payments under new guidelines
implemented by Fannie Mae and Freddie Mac.
Read Full Story

Pare down the house payments
San Diego Union Tribune
Affluent borrowers are signing up for the same type of mortgage that pushed
many homeowners into foreclosure just a few years ago – interest-only
mortgages.
Read Full Story

Home prices up year-over-year in January
Los Angeles Times
U.S. home prices rose 9.7 percent in January from a year earlier, the biggest
increase since 2006, according to CoreLogic.
Read Full Story

Is Fannie Mae overpricing homes?
San Diego Union Tribune
Real estate agents and home sellers have raised the question of whether Fannie
Mae is overpricing homes throughout California due to a large number of deals
that have fallen apart with the taxpayer-supported company because of price
disputes.
Read Full Story

California highest median home price by region/county January 2013: Marin, $799,110

California lowest median home price by region/county January 2013: Madera, $98,330

California Pending Home Sales Index: December 2012: 82.3 , down 20.5 percent from November’s 103.5.

California Traditional Housing Affordability Index: Fourth quarter 2012: 48 percent
(Source: C.A.R.)

Mortgage rates: Week ending 2/28/2013 30-yr. fixed: 3.51% fees/points: 0.8% 15-yr. fixed: 2.76% fees/points: 0.8% 1-yr. adjustable: 2.64% Fees/points: 0.4%
(Source: Freddie Mac)

See local housing trends in your city
Information provided by the C.A.R. Newsline published by the CALIFORNIA ASSOCIATION OF REALTORS®

If you follow the hosing market regularly, you may have noticed a change of tone from the media. What was once a negative topic no matter that stats has now become the darling of the economic recovery. With a bounce back of nearly 10% across the country, many sellers are finding themselves with the upper hand in their negotiations. In fact the National Association of Realtors found that nearly 6 out of 10 homes received multiple offers in 2012. That trend is likely higher today and will likely continue until more sellers decide to list their homes for sale.

So why might some would be sellers miss the boat here?

1. Betting on Future Home Prices

Betting that home prices will continue to increase at this pace is what happened in the late 2000′s which caused many too over reach and ultimately suffer great losses. A seller waiting a few months for a higher price may find the market begin to soften and could potentially lose some of the equity one currently has.

2. Mortgage Rates

Competition has been fierce for the better part of a year and many are offering significantly over asking price to secure a property at current prices and especially at current interest rates. Mortgage rates have also been increasing which in turn lowers the buying power of financed buyers. A continued rise in rates may sideline many buyers in the market and level off the demand.

3.  Spring Selling Season

Historically, Spring is the most active time of year for real estate. Families decide to make a fresh start and put their home on the market. By default, this may be the same reason why the housing market may begin to see a balance between supply and demand. As more sellers list their homes for sale, buyers will then have more options to choose from. Therefore tipping the scales back in favor of buyers or at the very least reining in home prices from speculative sellers.

4. New Equity (Bonus)

As home prices have increased to their best levels in years, many homeowners who had been trapped with no equity have seen their luck change. For the first time since the housing crash, these homeowners have the ability to sell. Adding more inventory to the market.

Bottom Line

Although no one can accurately predict what the housing market will do in the future, we can only act on the information we currently have at hand. Buyers in today’s market are ready willing and able to do what it takes to get their offers accepted on the few properties for sale. This is an opportunity that may or may not last. Should it end in the months to come, many sellers will find themselves missing the boat.

Share your thoughts! What do you believe the market will do in the near future?

Survey: Single-family renters more likely to stay longer
The Wall Street Journal
Renters who opt for single-family homes over apartments are more likely to live in those homes for five years or longer and are more interested in ultimately becoming a homeowner, according to a study by ORC international for Premier Property Management.
Read Full Story

They bailed on their homes – now they want back in
CNBC
So-called “strategic defaulters,” some of them investors and some owner-occupants, are coming back to the market, despite damaged credit, and apparently the market is welcoming them back.
Read Full Story

Underwater no more, equity regained
San Diego Union-Tribune
Approximately 1.9 million property owners nationwide regained home equity in 2012 due to rising home prices – encouraging news for housing markets that are facing lower-than-normal inventory and high buyer interest.
Read Full Story

History of California Home Prices [Infographic]
Di Matteo Group
A look at the history of California’s home prices from the 1970′s to today reminds us how real estate can be a great long term investment with home prices increasing nearly every single year.
Read Full Story

Fresh-Baked Cookie Smell Won’t Sell Your Home
Di Matteo Group
Just about everyone loves the smell of fresh-baked cookies, but new research suggests that aromas do not help sell homes.
Read Full Story

March 2

March 8
Taste of Navajo
A one of a kind event celebrating the great eateries, wineries, and breweries in the Navajo community (Allied Gardens, Del Cerro, Grantville, San Carlos) and surrounding areas. An event to benefit Green Elementary. Formerly The Taste of San Carlos. Sample sumptuous bites from local restaurants & caterers or get great restaurant ideas for visitors or date night! In addition to the many opportunities to sample local fare, guests can purchase a drink at the bar, bid on silent auction items, listen to music, and learn about the night sky from an on-site astronomer and about the park itself from a volunteer ranger.
Time: 6:00 am – 9:00 pm
Location: Mission Trails Regional Park Visitor Center
For more information visit TasteofNavajo.com

March 9
8th Annual Cherry Blossom Festival
The cherry trees are blooming and the Japanese Friendship Garden in Balboa Park is hosting a festival to celebrate the season. Get a taste of Japan by visiting gorgeous outdoor gardens and watching a traditional tea ceremony. Enjoy delicious food, arts, crafts, and cultural demonstrations. Refer to website for admission information.
Time: 10:00 am – 4:00 pm
Location: Balboa Park Japanese Friendship Garden, 2125 Pan   American Rd., San Diego
For more information visit www.niwa.org/8th-annual-cherry-blossom-festival

March 9 – 10
86th Annual Thursday Club Rummage Sale
The granddaddy of all rummage sales! Thousands of new and gently used items such as furniture, clothing, sporting equipment, appliances, electronics, and more will be sold to benefit Balboa Park and local charities.
Time: Sat: 9:00 am – 4:00 pm, Sun: 10:00 am – 2:00 pm
Location: Balboa Park Activity Center, 2145 Park Blvd., San   Diego
For more information visit www.thethursdayclub.org

March 10
San Diego Half Marathon & 5K
The Second Annual San Diego Half Marathon is a scenic 13.1-mile course that will start at Petco Park and finish at 5th Avenue and K St. The 5K is a fast and scenic 3.1-mile race into downtown San Diego, designed for all ages and abilities. The event benefits several local charities. After the finish, “Celebrate San Diego” at the Gaslamp Block Party! Refer to website for admission information.
Time: 7:30 am – 12:00 pm
Location: Petco Park, 100 Park Blvd., San Diego
For more information visit www.sdhalfmarathon.com 

March 10
18th Annual Del Mar Kiwanis’ Ugly Dog Contest
Big dogs, little dogs, long dogs, short dogs, shaggy dogs, curly dogs and not a pretty one in the bunch! With this event there’s more to it than just “ugly” with 10 categories of winners. See website for admission information. Proceeds benefit several charities.
Time: 11:00 am – 3:00 pm
Location: Bates Nut Farm, 15954 Woods Valley Rd., Valley   Center
For more information visit www.uglydogcontest.com

March 15 – 16
Epic Beer Festival
This festival features over 80 craft breweries with more than 200 beers to sample. The Epic Beer Festival benefits Fresh Start Surgical Gifts, a non-profit organization that transforms lives through the gift of reconstructive surgery and related medical care. Refer to website for admission information.
Time: Refer to website for specific times
Location: Convention Center, 111 West Harbor Dr., San Diego
For more information visit www.epicbeerfestival.com

March 16
33rd Annual St. Patrick’s Day Festival & Parade
Wear something green while you enjoy the festivities in a Celtic Village filled with Irish culture, music, dancing, food, and beer; plus a Kid’s Zone with rides and activities.
Time: Festival: 9:00 am – 6:30 pm, Parade: 10:30 am – 12:30 pm
Location: Balboa Park, West side of park along 6th Ave., San Diego
For more information visit www.stpatsparade.org

March 16
Annual St. Patrick’s 10K & 2/4-Mile Run/Walk
This is an athletic event celebrating St. Patrick’s Day. This run/walk benefits Rady Children’s Hospital. There will be drawings, awards, and a   special Irish award for the best “Irish Theme” running costume.
Time: 7:00 am – 10:00 am
Location: Mission Bay Park, San Diego
For more information visit www.kathyloperevents.com

March 16
North County St. Patrick’s Day Parade & Festival
There will be a wonderful parade with three possible prizes for participants. After the parade The Village scavenger hunt for gold lets you search for clues that could lead you to be the winner of a gold coin! There will also be limerick readings at Art Beat, games and contests, a beer garden, and live entertainment.
Time: 9:00 am – 4:00 pm
Location: Main St., Downtown Vista
For more information visit www.northcountystpatricksdayparade.com

March 17
ShamROCK 2013
This is the 18th Annual Outdoor Musical Block Party celebrating St. Patrick’s Day on the green streets of the Historic Gaslamp Quarter. Featuring live entertainment, DJs, Irish food, green beer, Jameson Irish Whiskey, and much more! Refer to website for admission information.
Time: 2:00 pm – 12:00 am
Location: Gaslamp Quarter, San Diego
For more information visit www.sandiegoshamrock.com

March 23
Fight for Air: Climb & Festival
This is a most unusual athletic event where the challenge is a climb up the stairwell of the One America Plaza Building, the tallest in downtown

San Diego with 657 stairs to the 32nd floor. Then celebrate your amazing feat at the outdoor festival with music, vendors, food, and drink. Refer to website   for participation and admission information.
Time: 8:00 am – 2:00 pm
Location: One America Plaza Building, San Diego
For more information visit www.fightforairclimb.org

March 23
South Park Spring Walkabout
Browse, shop, and explore the neighborhood of South Park. This is a fun-filled evening festival where the shops are open late, plus entertainment, specials and surprises. This is a free event.
Time: 6:00 pm – 10:00 pm
Location: South Park neighborhood, 30th St. and Fern St., San Diego
For more information visit www.southparkscene.com/whats_happening.html

March 23 – 24
Seaport Village Spring Busker Festival
The only Busker Festival in Southern California takes place in Seaport Village. Professionals from across the country will perform their bizarre   talents from sword swallowing to knife throwing to pogo stick tricks and juggling on unicycles. Even escape artists and comedic stunt men will be   there. This is a free event.
Time: 12:00 pm – 5:00 pm
Location: Seaport Village, San Diego
For more information visit www.seaportvillage.com/entertainment/busker-festival

March 24
Paws in the Park 2013
Celebrate the bond between people and their pets! Raise funds and awareness for animals in need. Proceeds go to the Escondido Humane Society.   Registration is free. Fun contests, costume parades, entertainment, shopping, giveaways, games for people and pets, opportunity drawing and more!
Time: 8:00 am – 12:00 pm
Location: Kit Carson Park, 3333 Bear Valley Pkwy., Escondido
For more information visit www.escondidohumanesociety.org

March 30
2013 Cruise Into Easter
This is a free family event! There will be a visit from the Easter Bunny, face painting, bounce houses, a live band and a chuck wagon lunch. Sponsored by San Diego Harley Davidson and helps support Give Clean Water, a local non-profit focused on giving clean water to the world.
Time: 11:00 am – 3:00 pm, egg hunts at 11:30 am and 1:30 pm
Location: San Diego Harley Davidson, 5600 Kearny Mesa Rd., San Diego
For more information visit www.givecleanwater.org

March 31
Easter Brunch & Egg Hunt
Celebrate Easter at the Hotel del Coronado with food, entertainment and fun for the whole family. The Del will feature their Easter Champagne Brunch Buffet, Easter-egg hunts, holiday crafts and visits with the Easter Bunny! There will also be a fun zone with crafts for all ages. Refer to website for admission information.
Time: 9:30 am – 1:30 pm
Location: Hotel del Coronado, 1500 Orange Ave., Coronado
For more information visit www.hoteldel.com/holidays.aspx#1

March 31
Kiwanis Easter Pancake Breakfast
Enjoy a full delicious breakfast of pancakes, eggs, sausage, juice, milk and coffee prepared and served by members of the Alpine Kiwanis. Proceeds help support youth programs and community projects in Alpine. Refer to website for admission and additional information.
Time: 7:00 am – 12:00 pm
Location: Alpine Elementary School Auditorium, 1850 Alpine Blvd., Alpine
For more information visit www.alpinekiwanis.org
List of events was provided by Lawyers Title

Which of these events are you most looking forward to?

Infographic is brought to you by the California Association of Realtors

Share Your Thoughts: Do you think real estate is a safe investment? Why or Why not?