David Wright

How does "Game Theory" play out in the San Diego real estate market? It does with realtors each day along with banks. This weekend I'll write about it, be prepared. It may shock you, but to those of us on the inside its nothing new. I look forward to writing it and you reading it. Thank you.

David

Hello,

Have you ever bought something, anything that required following directions? Then said to yourself (usually males do this) "I don't need those, I'll figure it out myself?" Only to do everything you think you need to, and then find out, well it didn't work. Strange how small steps can make a big difference huh. So now you have to go back and read the directions and clean up your mistakes. What a waste of time huh? Especially since you could have done it correctly the first time.

So how does this apply to San Diego real estate? Right now in our market it mainly consists of REO's (bank owned.) These homes almost always requite a pre-approval, and the loan officers and real estate agents enforce this to help you! Why you ask? Because 45% of escrows fall out because of bad lending and bad deals. So by following the directions asked for from the loan officers and real estate agents makes the deal Better the first and saves you time! So the next time you or your agent see's a set of directions sent out please follow them (it saves you time and increases your odds of you getting the property) (80% of agents seem to be not able to follow directions, so you may want to ask your agent if they did all the steps requested.)

Thanks for reading again and I hope this helped you out. If you ever have a question feel free to ask. Thanks

Hello,

So last week I went to wedding for one of my best friends were I was the best man. It was a three adventure that included a speech by myself and quite a lot of work. Even though I've been to a lot of weddings, and this was my second time as a best man, this was by far the smoothest wedding I've been to due to the team that planned it and practice we did to make it that way (the bride made us practicefor 3 hours one day.) The buildup to the final day was intense, and it felt like a close of escrow in the San Diego real estate market. So when the final count down came to be, and I presented the rings wrongly (with a quick correction) it felt like a giant relief (and I wasn't even the groom, wow what he must have been feeling.) Did some tears fall as I watched the final "I do?" Yes they did a little, emotion is a powerful force. LIfe, perfect planning, and a great team is beautiful thing. But the love of 2 people made everything perfect.

Take a moment to think about how you want your experience to be with buying a home in the San Diego real estate and the team you'll need around you to make it perfect. You only get one shot to make it great. Do it right the first time and you too will have tears when you close and its perfect. Thanks for reading again.

David

So have you ever thought about how the football season affects the San Diego real estate market? Every Sunday the Chargers play you can almost count on open houses being slow. So what does this mean to you? It means you will probably get better service from Realtors and also less competition from other home buyers. With that being said, you do though, need to watch out for the Realtors who are inexperiencedand have to work no matter what (make sure your agent has a proven track record of closed sales and can prove it.) Something else to consider right now is that the closer we get to Christmas and the play-offs, the better the deals will arise in the market, and fewer buyers as well. Why you ask? Simple, people become more focused on the holidays and football.

So take the next few months to really step up your search for a new home in San Diego. November and December are the best months to really find that great home in our great city of San Diego. Tell your realtor its the Super Bowl and you want to win the game!

Thanks for reading.

Hello there,

Today we have some very interesting news out about interest rates and the future of them. The Federal Reserve has decided to keep purchasing mortgage backed securities (200 billion worth of them.) What this means to you as a borrower of money is that interest rates will continue to be kept artificially low. Also currently we are still at historically low interest rates for all 30 year fixed rate mortgages. So how long will this continue? Well according to the Wall Street Journal this should continue till March or until investors start wanting real rates of return on their money. Will it continue past that mark of March? Seeing that the real estate markets are so fragile and that the recovery currently is almost starting, except for the fact that the Foreclosure Moratorium was lifted, yes it may continue.

So what does this really mean to you? Time is really of the essence for a few reasons. One is that the Home Buyer Credit may not be extended, and if it is it will only be for a limited time as well. Two, once rates do move upward you will lose purchasing power. Three with the Foreclosure Moratorium lifted it will bring more investors out, which means prices may be inflated and over bid more than now( that means writing more offers.) So please take a moment to find out what's most important you and give me a call and your agent so we can make a game and make it happen. Thanks again for your time and I look forward to making you homeowner.

Please don't worry about the posting, next time I'll throw a twist in there to mix it up with life so it doesn't sound like a commercial. Thanks for reading again.

David