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Buyers, sellers, and homeowners in Vista, California should be familiar with the current real estate market statistics for your city. So, here's the latest information for you:
Detached Homes Total Sold Days on Market Average Sold Price January 2010 54 76 $322,783 December 2009 102 55 $336,885
Every time you turn on the news or read the newspaper, you hear some sort of report about the real estate market. In most cases, however, the report is about the national real estate market and not the specific statistics for the city where you live.
|
Attached Homes |
Total Sold |
Days on Market |
Average Sold Price |
|
January 2010 |
13 |
47 |
$190,531 |
|
December 2009 |
21 |
101 |
$177,167 |
Total sales declined in January in Vista, and there was a decrease in detached property values in January. It would be difficult to speculate as to the reason for the decline. Historically, the holidays have impacted the home sales in subsequent months, and perhaps that was the case in this situation.
Two specific factors to consider:
How does this data help if you are a home buyer? Prospective buyers can use this data to help determine whether buying a home in Vista is within their price range, once they have been pre-qualified by a mortgage lender.
Click Here to Learn Home Buying Tips for Vista Home Buyers
How does this data help if you are a home seller? This information is critical to home sellers in Vista. Over the past few years, property values have declined and many sellers may need to make tough decisions about whether to sell, and whether a short sale in Vista might be a consideration.
Click Here to Learn More About Selling a Home in Vista
This summary of the market data is based upon a review of data provided by Sandicor and the Multiple Listing Service of San Diego County. If you have any questions about the data or would like to receive full report of the information provided, feel free to contact me.
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Did you know that if you buy a home in San Diego, California, you could be eligible for an $6,500 tax credit? That’s right, $6,500 and it’s a credit, not a write-off. What this means to you is that if you field your taxes and were expecting a $2,000 refund from the IRS, you would now be receiving a $8,500 refund as a result of this credit.
You may have heard about the $8,000 first-time homebuyer tax credit in San Diego and been saddened when you heard that this credit was only for first-time homebuyers. Now your in luck as theIRS has shown a little love to long-time resident homebuyers as well in the form of a $6,500 tax credit.
You may be asking yourself, “What is the definition of a Long-Time Resident Homebuyer?”. According to the IRS.Gov:
“To be considered a long-time resident homebuyer you and your spouse – if you are married – must have lived in the same principal residence for any consecutive five-year period during the eight-year period that ended on the date the new home is purchased. Additionally, your settlement date must be after November 6, 2009.”
To read the rest of this post, read our blog by clicking the link below:
San Diego Real Estate Agent Blog
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Rental property can have very stable, respectful and reliable tenants. San Diego, CA
Yes, that’s right! It all depends on product, location and first rate tenant screening. If you don’t have all three, your vacancy rate will be elevated. Let’s discuss product first. We recommend to our students that they furnish their properties with clean functional items, new linens and art work on the walls. What you are creating is an environment that is very pleasing to the tenant, one that not only the renter will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will draw new inquires. We are all for building and establishing a pipeline.
Many furnished rooms for rent are not clean and be full of old, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a good sense of self-esteem? Nicely furnished rooms generate good paying tenants, who stay for extended periods.
Our favored tenant populations normally do not have their own transportation so proximity to public transportation is necessity.
Key to this equation within our system is good tenant screening, which oddly enough does not include credit or traditional background checks. Our tenants are referred to us, so we learn about them and their history though direct questioning of people who are familiar with each potential tenant individually. We discover personal background information and work experience. This type of screening done systematically will produce good paying tenants who stay for extended periods creating a stable house.
To discover more about establishing transitional housing, please download our free Ebook from the side bar on our main blog site.
Don't hesitate to contact us with questions. Learn about us. Learn our system. Learn what others have to say about us and our system.
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Will paying underwater borrowers to keep meeting their mortgage obligations prevent them from walking away?
Loan Value Group LLC says it is working with a major mortgage lender to test this theory.
Here’s the plan. The mortgage investor offers a cash reward to borrowers to keep paying. The amount varies by borrower based on income, negative equity, geography, and other risk factors. The more likely a borrower will default, the bigger the carrot.
The borrower can’t collect the payment until the mortgage is paid, although the rewards can be used to help pay off the mortgage if the property is sold.
The plan keeps lenders from having to mark properties to market and take big losses. Frank Pallotta, a founder of Loan Value Group and former executive at Morgan Stanley and Credit Suisse, says the program will pay for itself if only a few borrowers stay put and keep paying.
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Rate Lock Advice & Mortgage Market Update
DAILY RATE LOCK ADVICE
February 9, 2010, 10:30 PT
Lock Advice: LOCK
MBS prices are down 7/32, possibility of negative reprice.
There will be a 3-yr Treasury auction at 1:00 ET.
National Average Fixed Rate Mortgage
Unchanged at 4.99% on Feb.9
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.699% Up 0.042%.
10 Year Treasury Currently 3.620% Up 0.03%
DJI Stocks $10,088.49, Up 180.1, 1.82%
European and Asian Markets Up 0.172%
Nymex Crude Oil Currently $73.79 Up $1.90
California Rates 02-09-10, 8:30PT
30 Year Fixed to $417,000
Rate 4.750%, Point 0.750 APR 4.883%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Cost Estimates.
No Application or Credit Report required
Compare Rates from Major Lenders Survey
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