Real Estate Blog 
Pre-Qualified vs. Pre-Approved
Wednesday, February 3rd, 2010 at 2:55am. 58 Views, 1 Comments.
This will be a quick blog but I wanted to tell a brief difference of being Pre-Qualified and Pre-Approved. Basically being Pre-Qualified means the buyer told the Loan Officer his/her financial situation (debts, assets, income and down payment) without providing the documents which usually happens over the phone or internet. To get Pre-Approved, the buyer provided all those necessary documents, completes the Loan application and the Loan Officer runs a credit check. And that is the major difference. Pre-Approved, verified financial situation. Pre-Qualified, nothing verified.
Why should a buyer get Pre-Approved and not just Pre-Qualified? When a buyer makes an offer, the seller will take the buyer more seriously if he/she is Pre Approved because it is…
Contingent Status
Monday, January 25th, 2010 at 2:27am. 74 Views, 0 Comments.
In 2009, the Contingent Status was created for listings on the MLS. And the question I would always get is "what does it mean?" Well with Short Sales and Bank Owned Foreclosures dominating the market, having the Contingent Status helps show what homes are still available. For instance, if a Short Sale is in Contingent status, most of the time it means that the seller already accepted an offer which has been sent to their mortgage lender to see if they can Short Sale their home. From a buyers standpoint, a buyer can submit an offer as a back up. Now if you are asking why don't the Sellers Realtor just put the home in the Pending Status? Well the Sellers Realtor can't until the mortgage lender approves the Short Sale because the sale of the home is…
New Listing in Scripps Ranch
Tuesday, January 19th, 2010 at 2:52am. 45 Views, 0 Comments.
I just listed a condo/townhome in Scripps Ranch I want to tell you about. The property has 3 bedrooms, 2.5 baths and 1,335 Sqft. It features beautiful flooring downstairs with granite countertops in the kitchen, as well as a good size patio and attached 2 car garage. The master bedroom includes french doors which leads into bedroom #2. All appliances come along with the property and a water softener too. All this for only $399,000. If you are looking for a property in Scripps Ranch, this is something you should consider. If you have any questions, please let me know.
Here are some pictures:
Search all Scripps Ranch Homes For Sale.…
My 2009 Recap
Tuesday, January 12th, 2010 at 3:33am. 72 Views, 0 Comments.
Sorry I haven't been blogging lately but I have been really busy which I guess is a good thing. But here is a quick blog about what I saw in 2009 San Diego Real Estate.
In the beginning of the year, the inventory of homes for sale were still good and buyers still had the leverage on offering below the asking price. Also one of the other big topics is that the Banks are holding on to their Foreclosures which they will be releasing a flood of them into the market sometime in the spring. As we all know, the flood never came.
During the spring time, the $8,000 First Time Home Buyer Tax Credit was announced and in my opinion, it did get some buyers off the fence about buying a home. Also in this time, the inventory of homes are starting to get low and…
Do You Zillow?
Tuesday, December 15th, 2009 at 3:30am. 162 Views, 0 Comments.
One of the frequent questions I get asked is "what do I think about
Zillow.com?" Well before I answer that question, if you don't know
Zillow.com, it is a website that provides Real Estate information such
as sold price, an estimated value of a home called "Zestimate" and
more.
Alright now for my answer, I don't hate it or love it, I just think Zillow.com is an okay tool. The reason why I think it is just an okay tool is there are some things like and dislike about it. What I like is the sold information that is listed so people can look at the comparables. What I dislike is the Zestimate. Lately I have been seeing Zestimates really off. I had a client that bought a home in Mira Mesa for $400,000 and the Zestimate was actually $510,000...…
Mira Mesa Skatepark Fundraiser
Wednesday, December 9th, 2009 at 1:19am. 107 Views, 0 Comments.
My good friends from Willy's Workshop in Mira Mesa are raising money to build a Skatepark in Mira Mesa. This is a great idea because people who like to skate can go to a spot where they can practice in a safe way. Also to help in the fundraising is Pat and Oscars in Mira Mesa because on Tuesday December 15th from 11am-8pm, they will be donating 20% of all proceeds to the Mira Mesa Skatepark Fund, via Willy's Workshop. For the 20% to be donated, you need to bring a flyer and here is a link where you can download the flyer:
http://www.miramesaskatepark.org/fund-raising/4
I will be there Tuesday getting some of Pat & Oscars famous breadsticks so hopefully you can make it too! If you want to learn more about the skatepark and donating, visit…
Google Street View for Listings!
Thursday, December 3rd, 2009 at 1:15am. 167 Views, 0 Comments.
I am happy to announce that I added the Google Street View feature so now if you see a home you like, click the Streetview tab and it will feel like you are standing right outside the home. You will able to zoom and pan around the neighborhood and this way you will get a sense on the neighborhood. This is a great feature to use and here some quick directions on how to use it.
And that is it! Play around with it and zoom in to the home or hold down the left click button on your mouse and drag it around to see the neighborhood or even zoom in to the home next door. This is a great new feature and I hope you like…
Appraisal FAQ's
Friday, November 20th, 2009 at 3:17am. 102 Views, 0 Comments.
Here is a quick blog on Frequently Asked Questions on Appraisals.
Who pays for the Appraisal?
The buyer. Every now and then I would have a buyer saying his/her Lender will pay for it but most of the time it's the buyer cost.
Who orders the Appraisal?
The buyers lender.
How long do they usually take to get complete?
It depends. I have seen them done anywhere from 3 days to 20 days.
What happens if the home appraises Lower than the purchase price?
We go back to the negotiating table with the Seller. Basically the seller has to agree to lower the purchase price to close the deal because the buyer can't even get the loan if they don't. And if the Seller doesn't want to reduce the price, the buyer may cancel and get their deposit back (if the Loan Contingency…
Tax Credit Extended and Expanded!!!
Saturday, November 7th, 2009 at 1:39am. 518 Views, 0 Comments.
I have been waiting for President Obama to sign off on this Tax Credit extension and today he finally did. The Tax Credit doesn't expire December 1, 2009 anymore, it has been extended to April 30, 2010. Actually you have to be in a binding sales contract signed by April 30, 2010 and the home purchase to be completed by June 30, 2010.
So Who Gets What?
The First Time Home Buyer Tax Credit up to $8,000 is pretty much the same with one exception that more people are eligible based on an increase in the amount of income someone may earn.
Also added to the Tax Credit program is for those who already own a residence some additional reasons to move to a new home. This incentive comes in a form of a Tax Credit up to $6,500 for qualified purchasers who have owned…
New Rancho Penasquitos Foreclosure
Monday, October 19th, 2009 at 5:03pm. 145 Views, 0 Comments.
A quick blog about a Foreclosure in Rancho Penasquitos I want to tell you about. The home has 4 bedrooms, 2.5 baths, 1,802 Sqft and a 2 car garage which features an appealing open floor plan, convenient central location and numerous modern amenities. All this for only $519,900. If you have any questions or would like to view this home, please let me know.