Click Here To See All Rancho Bernardo Foreclosures On The MLS

Here's a golden opportunity for first time home buyers in San Diego home looking for a great deal. In the past few years investors have bought up hundreds of foreclosure houses. Houses that they paid cash for and sometimes had never seen. Then in order to flip or resale they rehabed the houses, often with new kitchens; granite, counters, appliances, floors, re-textured ceilings, new bathrooms, new windows and landscaping. These remodels are anywhere from $25,000 to $50,000 worth of upgrades. After all the improvements are completed they price low and try to get the house sold. When the house hits the market the investors want to get an offer and get it sold as soon as possible. It's a really good deal for a buyer and here's why -

1. Investors really want to sell, which means they will do what it takes. No long waits, no bank addendums and requests, no demands on the buyers.
2. Investors don't like Vacant houses. Vacant houses don't make investors any money.
3. Investors will negotiate repairs, which shouldn't be much because they have already rehabed the house.
4. Investors like short escrows. Buyers won't have to wait for months to hear from the bank and then have to jump though hoops to meet their demands.
5. There is no goofy hidden supply or cache of homes being held off the market.
6. Usually buyers will not have to compete with multiple offers. I have seen bank owned houses receive 25 offers.
7. Investor homes are everywhere in San Diego.

Want to find a great Investor owned house for sale???

If you're looking for a great deal on a San Diego House then act now while interest rates and competition are low. In a few months things will change a lot. Every year around March the market improves with more buyer and seller activity. Get ahead of the game and start looking now. Don't miss this Golden Opportunity

To see all the houses for sell in San Diego visit - www.SanDiegoForeclosureGuide.com

Or ask me to set-up a custom search and never miss a Hot Deal, Price Change or Golden Opportunity

Janet McCarthy

jmccarthyhomes@gmail.com

Create a Buying Plan

In order to buy a house you need to create a buying plan. I don't mean deciding how many bedrooms and baths you want, or if you need a three car garage. I am talking about a plan that will enable you to get the house you really want. You will need to save for a down payment, deposit and closing costs. These three things on a $350,000 ( the average price for a San Diego home), will total approximately,

deposit - 1% of $350,000 = $3,500

Down payment - 3.5% for an FHA loan = $12,250

closing costs - approx. $12,500 ( includes property taxes and insurance)

$28,000. That's what you will need to get the keys to the house. You might need less but it's better to plan for more.

Get Your Financial House in Order

Whether you're financing a million-dollar home or are a first time home buyer - you must have good credit. Can you buy a home and have bad credit? Probably. But you're going to pay tens of thousands of dollars more in fees and interest rate charges. So, save your hard-earned money in the long-run. Get your financial house in order NOW. For at least one year prior to purchasing a home, you must assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.

What you Need to Pay for

And, just so you're prepared... many times we forget (or maybe never knew) that there are a number of "upfront fees" you will be expected to pay once you begin the purchase process, such as an escrow deposit and inspection fees. An escrow deposit demonstrates good faith to the sellers - usually one to five percent of the sales price - and is credited toward your down payment at closing.

For example -

If you qualified to purchase a $350,000 home, you will need to make a good faith deposit of $3500.00 when you submit your offer. Usually Realtors take a copy of the check and submit it and when your offer is accepted, you will have three days to get it to the escrow company.

You will also need approximately $300 - $500 to pay for a physical inspection which needs to be completed within 10 days of your accepted offer. The physical inspection provides you with a comprehensive assessment made by a professional home inspector of the homes physical condition. Everything from the wiring, heating and plumbing, to the roof and the sprinklers is inspected. Typically, the inspector takes about three to four hours inspecting the home and will answer your questions and will advise you on how to remedy problems and take care of issues. This is money well spent by home buyers.

If you would like to see all the homes for sale in San Diego click

www.SanDiegoForeclosureGuide.com

Or email me at jmccarthyhomes@gmail.com and I will set-up an auto search that will deliver all the active properties that match your search criteria. You will have the advantage of knowing all the properties as they first come on the market and any price or status changes.

Thanks for visiting

Have you heard that Palomar College purchased some choice land in Rancho Bernardo. here's the news story, do you see anything in it about the added congestion that the student traffic will cause in nearby Westwood? Wasn't it enough that an elderly gentleman has already lost his life near that intersection???The city hasn't even built the side walk out to that entrance. It doesn't seem like they will take responsibility for his life either, but that subject seemed to just get swept under the carpet when it happened.

I was talking to a close friend who lives in the Westwood area recently and she was sharing with me her concerns of even more traffic on Rancho Bernardo Road and the possibility of the students eventually parking on the residential streets of the quiet neighborhood. This doesn't seem to concern the city, that students could be crossing the same street where the elderly gentleman got run over. People speed down that part of the road every day. What were they thinking?

For those of you who may have similar concerns, there is an informational meeting THIS Wednesday, June 23rd, at 5:30pm at the Rancho Bernardo Community park. Please attend and voice your concerns and opinions on the possible outcome of this matter, as their close of escrow is quickly approaching at the end of this month.

How many more people have to die near that intersection before anyone does something to prevent more lives from being lost?

I have taken the simple approach to this which relieves my Buyers anxieties of paying the "Mello Roos" taxes associated with many of our newer communities in San Diego County. It has proved very successful to lay out this added monthly expenditure right up front...

In 4S Ranch, for example, the taxes paid by the potential home Buyer are approximately 1.7% to 1.8% of the purchase price annually including the Mello Roos, which is a tax base that provides the money to build and improve exisiting infrastructure. It basically pays for the improvements and the construction and maintenance costs of the parks, community pools and walking/hiking trails, new schools, roads etc.

In Del Sur that percentage averages 1.9%

Just figuring out a simple Buyers Net Sheet will provide a pre approved Buyer the information they need to detemine if setting aside that much money in taxes each month is something they want to commit to.

The fact remains... Buyers LOVE the lifestyle that this new area of Rancho Bernardo affords them! They love the schools being brand new and the neighborhoods just "feel" good to them...

I always let my Buyers "experience" 4S Ranch and Del Sur and decide for themselves...More than likely, if they like it, they will buy it and make the tax base work in their budget...

If you haven't experienced the NEW Rancho Bernardo, just drive on out on Camino Del Norte, towards the ocean. Check out the huge shopping Center at 4S Commons and then continue on out to Del Sur.Email me to set up a personal tour of the area at Gina@GinaYoungren.com.

You will feel the difference!

The coastal breezes, the dedicated open spaces, the unique Town Center feel created by back loading garages and unique home designs...

Mello Roos is here to stay...I think most will agree that the benefits of paying the Mello Roos tax outweigh any negative aspects of the sacrifice!