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Follow these links to learn more about CW Mortgage.
- Why Should You Work with CW Mortgage?
- Meet the CW Mortgage Team
- Read about the Services we offer
- Read Testimonials from Past Clients
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Contact CW Mortgage
- Just give us a call at (760) 746-7388 or email us. We are always available to answer questions!
- Fill out the form below and we will email you information about our sales and marketing programs.
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Where Would You Put Your “X”?
Posted by Scott Peck | Leave A Comment »
Honor Team Monthly
Real Estate Market Briefing
July, 2009
Welcome to July & our sense of the market as full-time real estate professionals serving North County for a combined total of 34 years. We’ve created our own homemade Honor Team Predication Chart with an opportunity for you to participate with us.
OK, let’s get right to it.
We put our own “X” at the bottom of the second box. We think we’ve hit bottom, but we don’t think public perception will recognize this for several months. The North County median price has actually INCREASED for the past two months, although by only a slight amount. This is the first increase in a long time and reflects a major shift. The Doom & Gloom camp, however, says there is another wave of foreclosures as we head into Fall and that, perhaps, the magnetic poles may switch, causing a meltdown in Earth home prices. We think there will be fluctuation and fluttering, but that we are moving through the bottom and that prices will remain essentially flat.
Having said this, there are also pockets of communities that defy this logic. West Solana Beach prices are actually higher than last year. On the other hand, homes on the East side of I-5 in Solana Beach are considerably lower than last year. In fact, prices in the Lomas Santa Fe community, for example, have taken a slide this year, and there are very few sales so far (only 4 sales for the first half of the year). Even though several of these sold at lower-than-expected prices, you can’t make too much sense of only 4 sales.
Our Observations:
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Homes prices for ALL coastal North County actually increased by a little less than 1% from a month ago. This is the second month we’ve seen this new pattern. For a fabulous overview of North County prices, click here: North County Sales Stats
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Condo prices for ALL coastal North County remained the same.
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In North County as a whole, there were 1451 homes for sale or in escrow as we entered this month and 444 are in escrow. That’s 31%. That’s a EXTREMELY healthy number.
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There were 660 condos for sale in coastal North County as we entered this month and 274 of those in escrow - 42%. That’s a LOT of condos in escrow!
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The number of overall sales in 2009 in coastal North County is about 13% lower than 2008.
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Solana Beach has only had 25 home sales for the first half of 2009 compared to 68 total sales in 2008. Things are mighty slow in Solana Beach!
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During the first half of 2009, 37 condos in Solana Beach sold compared to 65 sold in 2008. That’s about the same pace as last year.
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Our sense is that most buyers are pushing into the market now at the price points below $850,000. And most homes in Solana Beach are above that price.
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Despite the recession, we are grateful and humbled to maintain our position as “Leaders” with 12 transactions so far this year (7 sold and 5 in escrow). We had 20 last year, our best year ever. Our average sales price, however, is a lot lower than last year.
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We are deeply in touch with both the listing side of the market and the buyer side since 58% of our business this year is listings and 42% is with buyers. This has helped us stay in fine tune with what’s really happening. To see our very appealing listings, click here: Our “Pitch Sheet“
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One of the most excruciating challenges has been to get successful appraisals for our pending sales. The appraisers, because of so many lower sales, sometimes come in lower than the sales price!
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What this means is that, even if a buyer steps up to the plate and offers a “good price,” the home will still not sell unless it appraises (unless it’s an all-cash buyer).
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It is fruitless for a seller to price too high for two reasons: One, they are highly unlikely to get an offer when priced too high. Two, even if they do get an offer in the price range they want, it is unlikely to appraise!
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However, we always get LOW offers for our listings. And we ALWAYS have to counter with a MUCH HIGHER number. We have found that the buyers who only want to buy low, then disappear. Buyers who are reasonable, then start an honest negotiating process that ends up at a just number for both parties. We stand with our sellers who are unwilling to sell at prices in the “Doom and Gloom” buyer camp.
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When we represent buyers, of course, we make low offers, but these usually don’t work if it’s a nice property or new on the market. In some cases, our buyers are actually competing with other offers. This is another hint to us that the market is shifting through the bottom.
Our Predictions:
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We feel we are moving through the bottom, though you can see that our “X” is straddling two positions.
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Prices for ALL North County will continue to stabilize, but are more likely to remain flat than to increase.
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We feel that the majority of sales activity will continue this year to be at the price point of $850,000 and below.
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HOWEVER, there will be an increasing number of sales at homes above this price during the second half of this year.
Why Buy Now
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Prices best in last 3 years
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Interest rates at lowest historical level
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Recovery kicking in
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Good buys available at lower prices
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Good inventory will disappear quickly when perception of “recovery” changes
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Our buyers are thrilled because we find the right properties & negotiate for the lowest possible price.
Why Sell Now
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Perception of “Recovery” is kicking in
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Buyers are coming out of hiding
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Low interest rates is encouraging buyers to act
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Inventory of good homes for sale is moderate
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Our listings sell at the highest possible price because of our fabulous presentation, marketing, & negotiating.
We look forward to serving you - as a seller or buyer - whenever that moment arrives in your life. In the meantime, thank you profusely for your referrals. Your friends will thank you forever for connecting us to them.
WHAT WE DO TO HELP OUR CLIENTS SUCCEED
It takes great patience to be a seller in today’s market & great patience for us as well, even though we have been labeled “marketing geniuses.” Almost 60% of our business comes from sellers so we have to be experts — and our exclusive “Top 10 Reasons to Buy Me! campaign has been extraordinarily successful. Our listings are selling, but we have lots of strategy sessions with our sellers to make this happen. Our sign“Someone Special Bought Me!” takes a lot of talent to get hoisted.
It takes great wisdom to be a buyer today too. Is the market going to drop further? Or is this the moment to buy? We help our buyers (40% of our business) to make wise choices and negotiate well. We give honest feedback on the pros and cons of each property based on our extensive market awareness, but we never push. This teamwork with our buyers brings powerful results. After showing 16 homes in one day to a couple relocating here from another state, they said, “We had the best time with you two today!” That’s the way it is for all our buyers.
OUR ADVICE TO SELLERS
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Price your property aggressively NOW! Look at the best honest sold comps (NOT your competition that is for sale), price slightly above those comps so you are in the “Strike Zone.” Youwill sell if you do this!
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Treasure the first offer. It’s very often the only offer. Don’t make the mistake of thinking, “Oh this was fairly easy, let’s wait for the next offer.” And wait you will!
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Don’t give up. Patience is absolutely called for in this market. Give yourself a good 6 months to sell - and longer if you over price to begin with. If you need to sell faster, drop your price now, not later.
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Let your home or condo “Pop & Sizzle” in buyer’s minds & hearts. Over 50% of our business comes from our listings and we truly shine in marketing. Our “Top 10 Reasons to Buy Me!” marketing campaign has been called “Genius” not only by our clients, but by our competitors!
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Click “Why Sellers Love The Honor Team!” to see the benefits of being a seller with us. And click here for quotes from ourSatisfied Sellers.
OUR ADVICE TO BUYERS:
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Buy now. If you are planning to stay put in your new property for the next 3-5 years and you see a property that speaks to your heart, buy now. We feel that the tide has turned and it’s important not to miss this opportunity to buy at the lowest possible prices.
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Play it Safe. If you are planning to stay put for less than 2 years, play it safe. There’s no harm in waiting to see if the market has indeed stabilized on prices. Remember, though, when a market turns (and we feel this one has), things happen quickly and those lower prices begin to fade. But even as the market recovers, prices will probably remain stable for at least another year.
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Work with the Honor Team. Almost 40% of our business is with buyers and we are amazing at helping buyers find the “perfect” property and negotiating the lowest possible sales price. And we don’t pressure. What you will experience with us is expertise, knowledge, wisdom, & caring beyond your highest expectations.
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Click “Why Buyers Love The Honor Team!” to see the benefits of being a buyer with us. And click here for quotes from ourSatisfied Buyers.
To Receive this FREE Monthly Real Estate Report by Email
Just Send an Email to ScottyPeck@gmail.com
Related Posts: Area Information, Area Statistics, San Diego
Magic Number hits at Solara Lofts!
Posted by Cliff Mensch | Leave A Comment »
That magic number is 51%.
When Solara lofts obtained it’s last sale, that pushed the percent sold to over 51%!
The significance of this is now the community can close FHA and VA loans as well as conventional! VA buyers can come and purchase with zero down. FHA purchases with only 3.5% as a down payment; talk about magic that’s great!
The second magic number is 18. That’s right Solara sold out of it’s original Builders Best Priced Homes(18 homes priced to GET THEM SOLD ) and we did!
The sales rate for Builders Best was about 2/week! Solara just received another 18 for Builders Best The sequel!
Stop by or call for more info - 619-231-2400
Visit the website - www.Solaraloftsnews.com
Prices start at just $239,900!
Related Posts: Builder Services, Condos & Townhomes, Downtown, New Homes, San Diego, Solara Lofts Condos
Happy 4th of July
Posted by Bob Chase | Leave A Comment »
The 4th marks an important day in our history and particularly in remembering the basics of free enterprise, faith in the country’s resilience, and hope that our leadership will find ways to further the American dream through this tough economy. It’s especially important to remember and help with reinforcing and strengthening the fabric of American ideals because sustaining the American way is the right way.
Enjoy your day, fly your flag, and give thanks for the opportunity to live in America. Perhaps all of us can make a difference.
Clients should be reminded that investing in today’s real estate market is a great alternative to building wealth!
“Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it, Almighty God. I know not what course others may take, but as for me, give me liberty or give me death!” –Patrick Henry
Related Posts: Area Information, San Diego
You May Have Money Waiting for You!
Posted by Rachel LaMar, J.D. | Leave A Comment »
Have you checked the State of California’s Unclaimed Property website lately? If not, what are you waiting for? You may have money with your name on it waiting for you.
The State of California is required to post unclaimed property–property and money–on their website. Many people do not know about this.
About two weeks ago my mother called me and told me that I had unclaimed property registered under my name on the website. I had no idea this site existed and logged in to claim my property. I also looked up many family members and discovered quite a few had unclaimed property waiting for them. Obviously it made their day when I called to tell them.
Go to www.claimit.ca.gov. Click on “Start your search” on the left. If you enter your name and do not find anything, try just entering your last name and scrolling through the names to see if you are there. I also suggest NOT entering a city. I have moved since the time I was associated with my unclaimed property, so at first it did not show up when I entered my current city.
Once you find your name and the property registered to you, you need to claim it on the site and print out the claim form. If the money owed is over $1,000 you need to have the form notarized. You then send in all the paperwork, with necessary documents, to the State. They claim it may take 6-8 months to obtain but it’s your property, so it’s worth it.
If you are married or have changed your name, be sure to check under previous names. I did not have documentation of bank accounts I owned under my maiden name with my grandmother, who passed away, so I had to send in a lot of documents, including my marriage license, birth certificate, social security card and my grandmother’s death certificate. I also sent a letter explaining everything (I highly recommend this).
If you have any questions the phone number is on the website and they are very easy to reach and very helpful.
Best of luck and pass the site along to everyone you know. www.claimit.ca.gov. If you live in another state, contact your state offices to see if they have a similar claim site–many do!
Related Posts: Just for Fun, Lifestyle, rachel lamar
Get Your Tickets to the Santaluz Summer Music Festival 2009 - special rates for Windermere!
Posted by The Windermere Team | Leave A Comment »
The Santaluz Summer Music Festival is one of the most exciting events of the summer.
The evening includes a host of wonderful performances, including: Eli Mattson (finalist from America’s Got Talent), Starship (”We Built this City”) and Skip Martin (the lead singer of Kool & The Gang).
Guests will also enjoy a tapas-style food promenade during the reception and a FIREWORKS display!
As the Title Sponsor of the Santaluz Music Festival for 2009, Windermere Exclusive Properties has special group rates available. We would love to fill the event with Windermere agents, clients, friends and family.
Contact Dixie Courtney at (858) 436-3260 for more information about how you can get involved in this special day!
Related Posts: Carmel Valley, Golf, Just for Fun, San Diego, Windermere
