It IS Possible to Ease the Foreclosure Burden
Posted by Rachel LaMar, J.D. | Leave A Comment »
Foreclosures affect homeowners, neighborhoods, neighbors, lenders and others. There ARE ways to ease the burdens created by foreclosures without placing them on the market and effecting the value of surrounding properties. It actually can be a win-win for the lender, the neighborhood and those needing housing. To learn more visit http://www.rachellamarrealestate.com/blog/2010/05/17/foreclosure-fix/
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Carlsbad Open House Saturday & Sunday 1-4PM-The Jeff Cole Group
Posted by Jeff Cole | Leave A Comment »
Just Listed-Rancho Carrillo Condo in Carlsbad. Open House this Saturday and Sunday from 1-4pm.
Bank Owned, located in Serrano, dual masters, with one suite located on the first floor. Private patio and balcony, move in ready. FHA approved, enjoy the wonderful amenities this community has to offer including pool, spa, community center, walking trails and so much more. Close to shopping, restaraunts, award winning schools and minutes to the beach! $249,900
For more information view our website at www.JeffColeGroup.com or contact Jeff directly at 760-525-7787
Related Posts: Agent Services, Carlsbad, New Listings, Open Houses
1st Quarter 2010 San Diego Home Sales – Get the Facts
Posted by Diane White | Leave A Comment »
The number of sales for the 1st Quarter 2010 has declined compared to 1st Quarter 2009, however, prices have increased.
According to Sandicor/MLS statistics some interesting facts about the first three months of this year for home prices under $10 million:
-
6,994 Sold Listings – 2009 had 7,238 Sold Listings
- Average Sales Price $400,125 – 2009 was $347,769 Average Sales Price
- Average Price per Sq.Ft. $235.62 – 2009 at $209.25 SP/SF
- Days on the market is about the same 67 vs. 65
Bank owned (REO) properties are still the lowest price per square feet:
- 1,901 REO Sales – $191.08 price per sq.ft. (SP/SqFt)
- 1,747 Short Sales – $204.50 SP/Sq.Ft
- 3,156 Regular Sales – $257.21 SP/Sq.Ft
Current Activity:
- 9,180 Active Listings – 2,193 are Short Sales – 764 are REO
- 10,450 are in the Pending Sale Status
- Sales Price to Listing Price is still high at 99% – 101% for REO Sales
Homes over $10 million sales are much slower:
- 45 Active Listings – 1 Pending – 1 Sold
- Average days on Market are 205
Please let me know if you would like information on specific areas or price ranges in San Diego. Reminder – to be eligible for up to $8,000 federal tax credit, you must be in escrow by April 30th! Plus there is now a California state tax credit up to $10,000. Ask for details.
![sunset-banner-v2[1]](http://pictureperfectsandiego.com/files/2010/04/sunset-banner-v212.jpg)
Related Posts: Area Information, Area Statistics, Foreclosures, Market Trends, Real Estate News, San Diego, Short Sales, homes for sale, tax credit
SHORT SALES, FAIR OR FOWL?
Posted by Ellen Jaffe | Leave A Comment »
One fine San Diego Day, Chicken Little was strolling along enjoying the weather. The sky was a crisp, clear blue and the sun was a huge bright globe. He didn’t much care for rain, which was why he liked San Diego. He wasn’t into getting his feathers wet. So this was a perfect place for him.
Suddenly, a large shadow was over him and as he looked up, his chicken smile quickly faded. He ran for his life as he was almost hit by a falling Condo and then another and another and then some houses crashed to the ground. Now chicken Little really wasn’t chicken, but he thought, “what a way to start the day”. I’m going to call my Realtor, Ellen!
She told him that what he just experienced was a lot of Short Sales and REOs 
falling to the ground. He was told to continue looking up and he would see Bankers with their arms folded laughing and watching the crashing homes. Ellen said, “it’s really a wonder that I have any hair left at all; just a few little blond wisps”. Chicken Little said, “wow, I’m really glad I don’t own the coop. Rocky rooster is my landlord. He crows all day and all night. He hasn’t gotten the message. Let him deal with all of it.”
“In Oh Five, the coop went condo. We all got so eggcited, all we could do was cluck. Day and night, night and day, cluck, cluck, cluck. By Oh Six, some of us got chicken, but others decided to buy in. Boy did they lay an egg. There are feathers flying because they have to do a Short Sale. Now Ellen, they all want your help! ”
So Ellen plunged right in to see what she could do. After months of calling and submitting and faxing and begging and pleading she was now at square one. So much for progress. Chicken Little said, “Wow, you Realtors are really something. All the hens are saying we thought sitting on our eggs until they hatch was really difficult and time consuming, but the result was worth the effort.” Sometimes Short Sales don’t close, so the results may not be as positive. ” I give you an awful lot of credit, he said”.
As in the example of Michael Jordan (Chicken Little said he couldn’t reach those heights), propelled by extraordinary talent to the stratosphere of basketball achievement; persistence and perseverance will result in exceptional service and accomplishment.
……..More from inside the coop to come!!
Related Posts: Lifestyle, Market Trends, Poway, Rancho Bernardo, Rancho Santa Fe, Real Estate News, San Diego, Sellers, Short Sales, Summer, Tourism, Windermere, Windermere Agents, Windermere Offices, WindermereSanDiego.com, World News
The Benefits Of Knowing A Good REO Agent in San Diego County
Posted by Jeff Cole | Leave A Comment »
There is plenty of benefit in knowing a good REO agent when shopping for Bank-owned or foreclosed homes in San Diego County. Like many parts of the country, where investors are gathering to scoop up Bank owned and Foreclosed homes at below market pricing, California, and particularly in San Diego County are very competitive. The coastal homes below $1,000,000 and especially below $500,000 are less available than some think. With Banks reluctant to Foreclose and sales data improving in both average sales price and units sold, the competition for the relatively few bank owned homes on the market has heated up.
Knowing a good REO agent that has relationships with multiple banks and outsourcers is key. Without a strong agent on your side guiding you along the way, you can count on writing offer after offer and being constantly outbid, not responded to or on the other side of the coin, paying thousands too much.
When looking for a REO agent,
- Start with identifying an agent who represents more than one Bank or Outsourcer. Agents with multiple bank relationships usually carry larger Bank owned inventory and may have a property in pre listing status that they can guide you to ahead of the pack. They usually are in constant communication with asset managers and have multiple loan officers that frequent their office, which helps them, stay more up to date on current government programs, lending issues and interest rates.
- Second look for an agent that has multiple designations such as CRS, SRS, e-PRO etc. These agents tend to value continued education and pride themselves on staying ahead of the pack as well as being on top of the latest technologies and marketing strategies. I prefer agents that have established systems and team members that can support them in the tasks that are better delegated as to help them focus more on you and your needs. That is assuming they are not too big they pass you off to their team and never are available to you again.
Now is not the time to be working with an unseasoned agent or one working part time in the industry to help you find a home. Frankly, they just are not equipped to do the research and be on top of everything that you need of your agent in this market.
Timing is critical; this may be the best time in our lifetime to invest in real estate, even if the market continues to deteriorate. There is plenty of money to be made in a down market. There are more homes that cash flow in San Diego County than there has been in the twenty years I have been watching this market. There are also many homes right now that can be purchased and flipped for a healthy profit. That is why you need the right professional in your corner.
If you are an agent tired of getting your offers rejected or not responded to and want to save your reputation with your buyer or you are just a buyer looking to capitalize in this foreclosure cycle, now is the perfect time to establish a good REO agent relationship.
Jeff Cole CRS, SRS, e-PRO
Broker Associate, Premier Property Director
The Jeff Cole Group
Windermere Exclusive Properties
#1 Top agent in production
760-525-7787
jeff@JeffColeGroup.com
www.JeffColeGroup.com
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