Archive for the 'Escondido' Category
Should You Create a Living Trust?
Posted by Rachel LaMar, J.D. | Leave A Comment »
Have you considered creating a living trust? Many homeowners don’t even think about placing their homes in a trust, but there can be some big benefits to doing so and it is very simple to accomplish.
Let’s start with the basics. A trust is a binding legal document in which you name a beneficiary–a person or number of people–to be responsible for managing your property in order to benefit designated trustees (like your children should something happen to you). If you create the trust during your lifetime and elect to make changes to it at any time until your death this is a revocable living trust. You can also create an irrevocable trust, in which the terms cannot be altered.
Benefits of a trust:
1. Harder to overturn your dying wishes. A trust is more iron-clad than a will and does not have to go through probate.
2. Shorter time limits to settlement of your estate once you pass away. Normally upon death of the owner property has to go through probate. This legal process can be lengthy, especially if there are others or creditors claiming an interest in the property. With an established trust survivors are usually able to save time and expenses by avoiding probate.
3. May offer substantial savings on estate taxes. Since the estate will not have to go through probate it will save your survivors money associated with this process.
4. Privacy. Wills, which have to be filed in court upon the death of the maker, can be viewed publicly by anyone requesting a copy, but tems of a trust may NOT be made public. If you have substantial assests in the trust or perhaps some family members who you do not wish to fight over assets, a trust may be a great tool for keeping things quiet.
Caveats:
1. Title Insurance: A title insurance policy is a policy between the title insurance company and the named insured. Once that person creates a trust and names a third party or conveys property (e.g. by putting it into a trust), the title insurance may become invalid. This is because he nature of the relationship has changed–the owner(s) named in the original title policy is no longer the title holder.
A simple call to your title insurer will tell you whether you need to be concerned with this issue. If the trust will effect the policy there is an easy fix–an endorsement can be added to your policy that will effectively name the party covered in your trust. There will be a fee for doing so but it is worth the while if you find that a trust is beneficial to you.
2. Creditors. Depending on your state of residency there may be some issues with creditors being able to attach the real estate of the deceased spouse to satisfy sole debts incurred by that person. You need to check with your attorney to see if this will be an issue for you.
Trusts can be advantageous but it is imperative that you discuss your particular situation with your estate planning or real estate attorney to make sure it is a the right move for you, as not everyone will benefit from establishing a trust. Make sure you have all the information needed so you can make an informed decision.
Popularity: 4% [?]
Related Posts: Baby Boomers, Carlsbad, Carmel Valley, Coastal Living, Contracts & Negotiations, Divorce & Real Estate, Escondido, Financial news, Real Estate News
3rd Quarter Statistics for San Diego Real Estate - Get the Facts
Posted by Diane White | Leave A Comment »
What happened in the San Diego housing market in the 3rd quarter? Most areas saw prices declining because the lower priced homes are the ones selling the most…which has brought down the average sales price. The fact is that most short sales and foreclosures have occurred in the lower price ranges and investors and first time home buyers are taking advantage of it,
This market may dry up sooner then we expected due to lenders being encouraged to modify their loans. Countrywide where one out of four loans were serviced, is being required to do so and they have up to 125,000 loans in California alone.
The number of home sales in San Diego County in the 3rd quarter were pretty steady. Total sales including Resale Detached and Resale Attached Homes were:
September 3,090 August 2,801 July 3,083
Here are the full reports compiled by Data Quick for San Diego County:
Popularity: 29% [?]
Related Posts: Area Information, Area Statistics, Buyers, Carlsbad, Carmel Valley, Condos & Townhomes, Del Mar, Encinitas, Escondido, Find A Home, Market Trends, Real Estate News, San Diego, San Marcos, Solana Beach
First Rate Service and Knowledge In A Tough Market Keeps Clients Happy
Posted by Misty Dobson | Leave A Comment »
While some agents and companies are stepping back or stepping out of the real estate arena, some of us are finding an opportunity to diversify during this challenging market downturn. As an agent I am now working harder to provide the kind of service and presence that will provide my clients a much higher level of service. Building lasting relationships is my highest goal and and I achieve results, even in this tough market.
Listed are examples of TOOLS that I use to be more effective in building a relationship with a buyer/seller….
- Keeping tabs on housing inventory and setting up searches for each client is key.
- Informing a potential buyer/seller of changes in the market that are happening daily builds confidence in your relationship .
- Using the right tools allows me to know which types of listings a consumer is looking for and for recommending similar properties.
- I work closely with a Loan Officers who are knowledgeable and can provide buyers with information to help them decide how much they are able to invest in a property and how to begin the process.
- I use the internet, producing Virtual Flyers, the Real Bird Listing Publisher and Craigslist (just to name a few) to bring attention to buyers needs and my seller’s properties. I consistently show buyers and sellers that I DO have the right TOOLS and how I can benefit them.
Commitment and hard work is important and really shines in a market like this one. Providing first rate service accompanied with knowledge will surely make you feel confident when using my services, and I hope to build relationships that are long lasting.
Here is to lasting relationships and VERY HAPPY Clients.
Popularity: 23% [?]
Related Posts: Agent Services, Escondido, Rancho Bernardo, San Marcos, Technology, Windermere Agents
What Slowdown? DiMaio Just Sold Two More Homes!
Posted by Cliff Mensch | Leave A Comment »
Everyone keeps talking about the slow down in the San Diego real estate market, but DiMaio Estates in Escondido sold two more homes this past week!
Eve Martin, the on site agent, just won’t let the rest of the real estate industry slow down her community from selling out! Great value always comes through. When you have a gorgeous community with no melo roos, no HOA fees and a low tax base — well, that translates to a lower payment and quick home sales.
Some people may be intimidated by the market, but DiMaio estates has such a great formula set up that buying a home has never been more affordable!
Give Eve a call for more ideas on great deals or stop by for a private tour; we’re open daily except for Wednesdays and Tuesdays.
DiMaio phone number: (760) 781-1152
Popularity: 35% [?]
Related Posts: Builder Services, Buyers, DiMaio Estates, Escondido, Homeowners, New Homes
