February 2010

FHA and VA Approved Homes in San Diego

Friday, February 19th, 2010 at 2:11pm. 595 Views, 4 Comments.

With FHA and VA loans being the most popular loans being used today, many condo buyers are wondering how to find out if the condo complex is FHA or VA approved.  Easy, there are websites to look up if the condo complex is FHA or VA approved and here are the links.

FHA Approval Site:  https://entp.hud.gov/idapp/html/condlook.cfm

VA Approval Site:  http://condopudbuilder.vba.va.gov/2.2/frames.html

Really, the buyers Realtor and Loan Officer will be doing the research but if the buyer wants to check it out themselves, feel free to see these sites.  Also keep in mind even though the condo complex is FHA or VA approved, it doesn't mean that particular unit is automatically approved too. 

As for a Single Family Home buyer with a FHA or VA loan, there isn't a…

Mira Mesa Real Estate Market Report - 2/16/10

Tuesday, February 16th, 2010 at 2:48am. 222 Views, 0 Comments.

Here is a Market Update for Mira Mesa.

Active Status

50 Detached Homes and 28 Condos or Townhomes

Contingent Status

45 Detached Homes and 50 Condos or Townhomes

Pending Status

67 Detached Homes and 62 Condos or Townhomes

Average List Price to Sold Price Difference (%)of Homes Sold in the last 30 Days

For Detached Homes - 15 SOLD Listings

Average List Price: $384,845

Average Sold Price:  $397,926

Sellers are getting around 3% More from List Price

For Condos or Townhomes - 18 SOLD Listings

Average List Price: $226,277

Average Sold Price:  $216,188

Sellers are getting around 4.5% Less from List Price

The statistic that stood out the most was for how much more the Detached Homes Sold for.  Most people wouldn't expect to see that but that is how the market is right now in…

Scripps Ranch Market Update

Wednesday, February 10th, 2010 at 4:17pm. 282 Views, 0 Comments.

Here is a quick Market Update for Scripps Ranch.  I love doing these because 6 months from now, I can look back at these numbers and compare.

Active Status

48 Detached Homes and 28 Condos or Townhomes

Contingent Status

18 Detached Homes and 30 Condos or Townhomes

Pending Status

47 Detached Homes and 32 Condos or Townhomes

Average List Price to Sold Price Difference (%)of Homes Sold in the last 30 Days

For Detached Homes - 15 SOLD Listings

Average List Price: $638,900

Average Sold Price:  $622,166

Sellers are getting around 2.5% Less from List Price

For Condos or Townhomes - 12 SOLD Listings

Average List Price: $362,668

Average Sold Price:  $357,125

Sellers are getting around 1.75% Less from List Price

If you have any questions regarding Scripps Ranch Real Estate,…

Pre-Qualified vs. Pre-Approved

Wednesday, February 3rd, 2010 at 2:55am. 272 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…