Archive for the 'Buyers' Category
Veterans Day is a few weeks away, but that does not mean we should wait to thank veterans of the United States Armed Forces for their service and sacrifices.
We all know at least one person who has served to protect the liberties that we all hold dearly in this country. But the reality is you probably know more than one veteran. They come from all walks of life, backgrounds, and professions. In fact, there are 22.8 million veterans in the United States and 253,000 in San Diego County! Roughly 1 out of 12 people you know is a veteran, and thus likely qualifies for Department of Veterans Affairs (VA) benefits. Among those benefits is assistance in obtaining a home loan through the VA Home Loan Program.
Sadly, many veterans do not know all of the benefits of having a VA loan. One major benefit is that qualifying veterans in San Diego County can get a loan of up to $537,500 for zero down. What they might not know however, $537,500 is not the ceiling when it comes to the amount of money one can get from the VA. By simply putting some money down a qualifying veteran can receive much greater loan amounts. For example say there is a $1,000,000 home that a veteran is looking to purchase. If they were to put $115,625 down on the house (that is just 11.5 %!) they would be able to receive a VA loan for $884,375. Most jumbo loans today require a down payment of 20%. Imagine how beneficial it would be to this Veteran to save $84,375 on the down payment!
Another major advantage of the VA loan is its low interest rate of around 4% on a 30 year fixed. Let us again look at the veterans million dollar home. His monthly payment would be roughly $4222.14 a month. Compare this to an equivalent Jumbo loan of 5% with a monthly payment of $4747.52 a difference of $525.38. Over the life of the loan the difference is $189,137! To a veteran 1% might not sound like a huge difference, but it takes merely minutes to inform them of this simple benefit that can save them tens even hundreds of thousands dollars.
Now going through basic training, deploying oversees, facing life or death situations routinely, and serving our nation is a lot to ask of these young men in women. In return, the least we can do is aid them in settling down, starting a family, buying a home, or moving up to their dream home. We would all appreciate the help if we were in their shoes. According to the philosopher Francis Bacon “Knowledge is power.” Well if this is true we should provide veterans with the power to control their financial future by informing them of their VA benefits. If you are a veteran you can start by speaking with a Samuel Scott Financial Group loan professional or visiting our website (http://www.samuelscottfg.com ) to find out if you qualify and what type of paperwork you need to fill out.
If you are a real estate professional helping someone in their search for a home, ask them if they are a veteran and find out if they qualify for VA benefits. As previously mentioned 1 in 12 Americans is a veteran, thus the answer is going to be “Yes” a whole lot more often than you would think. You may not realize it, but that man who is looking for his retirement home might have served in the Air Force when he was 18. That mother of two young children served in Operation Iraqi freedom. They don’t maybe always fit the mold for what you think a veteran looks like, but that is what made their commitment and sacrifice so important. They are just everyday people who answered their call to duty. Now they are looking for a home and it is our duty to help them do so. After everything they have done for our nation, they deserve all the help we can give them.
“I always tried to turn every disaster into an opportunity.” These words were once spoken by the world’s wealthiest man John D. Rockefeller, and during this economic downturn these words have still held true. We all have heard during the past few years about the economic crisis, foreclosures, and all of the problems on Wall Street. It has impacted everyone not just here in San Diego County or the United States, but also has negatively affected nearly every nation around the globe. Despite all the dire headlines, there our still opportunities for those in the market for a home to get the deal of a life time. It is those who turn these tough times into that opportunity of a lifetime will be delighted that they invested in their family’s future now rather than waiting and letting it slip away
In San Diego County, as in the majority of the United States, housing prices have fallen in the past year. During September 2010 the median sales price on a home was estimated at $375,000 to $380,000 dollars. One year later the median sales price has decreased 4.9% to approximately $350,000. Housing prices have not been this low within San Diego County since late summer 2003. This presents an excellent opportunity for those in the market for a home to capitalize on the lower prices. What was once unaffordable (maybe even unreasonable) during the height of the housing bubble is now within your means. However, the rate of decline in housing prices has steadily decreased in the past two years and prices, while not on the rise, are not falling at the same rates we saw in 2008. This suggests that housing prices may finally be bottoming out.
The desire to wait for housing prices to hit their absolute rock bottom may seem appealing. But signs indicate that we may be reaching that point right now. Waiting another year or two and the opportunity that you waited for may just pass you by.
One might think with home prices being at a level not seen since 2003 and with so much economic uncertainty that the number of homes sold must be shrinking rapidly. After all why would people sell their homes when they have the least value? Well in fact the opposite is true, compared to September 2010 the number of homes sold in San Diego County has actually increased 7% from 1,720 to last month’s total of 1,841. In addition, many banks have began issuing more foreclosure notices, notably in August the number of notice of default (the first step in foreclosure) increased in California by 25.9%. Homes are entering the foreclosure process faster than they are currently being resold.
While an unfortunate circumstance, the large number of bank owned properties (REOs) is actually a benefit to the buyer. Banks, rather than holding onto these REOs, are selling short to decrease their inventory. For the purchaser, this means lower prices and an opportunity that cannot be missed.
When one couples these depressed prices and historically low interest rates (4%). for those who are interested in buying a home it’s an opportunity, that should be taken advantage of. Yes, there have been some tough times over the past few years and likely a few more to come. But if there was ever a time when housing was affordable, now, for many people, might just be that time. Imagine the median home price in San Diego County. It was sold for $475,000 in September 2007 at the national average interest rate of 6.83%. A 30 year mortgage with 20% down that would mean a monthly payment of $2,484.91. Today, the median home is sells at $350,000 in San Diego and the average interest rate is 3.98% which equates to a monthly payment of $1,333.54. The same median home payment is now $1,151.37 less ($414,449 over the life of the loan) than it was just four years ago! Chances to buy that dream home may come again in the future, but one will likely never get a deal like the one you can get now. Opportunity is knocking at your door, turn this recession into the dream home that you have always wanted.
Please come visit during one of our Open Houses this weekend, I would love to show you this spectacular Sea Cliff home!
- Saturday, 10/22 Open House will be held from 1:00-4:00pm
- Sunday, 10/23 Open House will be held from 11:00-2:00pm
- Single Level – Detached Home
- 2 Bedrooms, 2 Full Baths
- Plus Den / Library
- Vaulted Ceilings
- Upgraded Kitchen
- Granite Counter Tops
- Laundry Room
- Freshly Painted
- New Carpet
- Hardwood Floors
- Private Gated Yard
- Mature Landscaping
- Fire Pit
- Private Bedroom Patio
- 2 Car Attached Garage
Sea Cliff’s amenities include: Gated Community, Walking Paths, Club House, Pools, Tennis Courts and Low HOA’s. Quarter Mile to Carlsbad Beaches and central to Shopping.
Jeff DeChamplain, Real Living Lifestyles
Your Guide On The Way Home
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Please Join Me at the Open House on Saturday 10/22!! I’ll be there from 11:00-3:00 PM and I would love to show you this fantastic townhome.
Carlsbad, CA –Upgraded Monarch Villa townhome in La Costa. Batiquitos Lagoon and La Costa Valley hill views from each room and private balconies. Completely remodeled gourmet kitchen and state of the art baths, spacious open floor plan, fireplace, 2 car attached garage with direct access.
- 2 Level Townhome, 1,622 Sq. Ft.
- 3 Bedrooms, 2.5 Bathrooms
- Brand New Culinary Kitchen: All New Cabinetry, Silestone Countertops, Tiled Backsplash, LG Stainless Appliances & Tiled Floors
- Fireplace in Living Room
- Large view deck off Living Room & second deck off Family Room
- Brand New Luxurious Bathrooms: All New Cabinetry, Granite Countertops, Sinks, Fixtures, Tile Floor & Baths plus Dual Head Shower In Master
- Expansive Lagoon & La Costa hill Views
- Minutes to Beach, Walking Paths, Shopping, Dining & Entertainment
- Close to 3 World Famous Golf Courses
- San Dieguito School District
Monarch Villa’s amenities include: gated community, pool, spa, tennis courts, low HOA’s and is conveniently situated close to world famous golfing at the La Costa Resort & Spa, Park Hyatt Aviara and Encinitas Ranch Golf Course. The beach is just minutes away as well as walking paths at Batiquitos Lagoon, shopping and dining and entertainment.
Jeff DeChamplain, Real Living Lifestyles
Your Guide On The Way Home
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Not a foreclosure or Short Sale.
Real Sellers. Real Motivated
Owners want out of Property Management
Extras and Upgrades Include:
- Travertine Floors throughout
- Stone Countertops in Kitchen & Baths
- Bathrooms have been Upgraded
- 2-master suites
- 2 1/2 bathrooms
- 1 bathroom in each bedroom plus 1/2 bath for guests
- vaulted ceilings
- southerly view from living room,kitchen & Dining Area
- gated beach access
- small intimate complex with only 30-units
- Short Walk to Del Mar Race Track and County Fairgrounds
- Near Cedros Design District, Restaurants and Entertainment:
- Brigantine restaurant
- Belly Up
- Fletcher Cove
- View other homes @ www.nickbednorz.com
- open this link to view MLS sheet Residential Client Full (All Pages)
- Click this link for virtual Tour
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