Tony Cannon - Real Estate Oceanside Carlsbad

Once again at the start of this year, we are seeing many cash investor buyers buying low priced condominiums and houses in North San Diego County. The problem is not many condo communities are FHA approved and those that are now face the problem of investor buyers pushing the owner occupied rate below 51%. Consequently, buyers wanting to use the most popular loan in California(FHA) find their selection of low priced housing is even more limited.

So why do Fannie and Freddie require 51% owner occupancy in a community? Do they think it will not be as well maintained because of a high number of renters? I would say the HOA(homeowners association) is probably the one controlling the community's care moreso than a renter who really only affects the interior of a unit. It is up to the HOA to enforce rules to preserve the neighborhood regardless of the type of resident.

Maybe Fannie and Freddie should be more concerned by one individual owning more than a significant number of units in a single complex. If the mutiple unit owner should stop paying dues, it could have a direct affect on the HOA bottom line which is more likely to eventually lead to a decline in the community's appearance.

So I say lower the owner occupancy requirement. Then more FHA buyers can have a chance to purchase and by doing so, it would help raise the owner occupancy rate which they consider to be so important. Otherwise many of these condo communities will never get FHA approved again.

What do you think?

It seems many short sale lenders are just saying no to paying the HOA(homeowners association) dues which are delinquent. Short sellers often decide they're not going to pay their mortgage, property taxes, or HOA dues and then can live cost free for as long as the short sale takes. But by not paying their HOA dues, by the time the short sale is approved there could be thousands of dollars in HOA dues which are in arrears, plus interest and legal fees which get tacked on. Suddenly this becomes the responsibility of the buyer or agents to cover or the home ends up in foreclosure and everyone has just wasted a lot of time trying to accomplish a short sale.

So if you are a buyer looking to make an offer on a short sale home or condominium which has a homeowners association, but find out if the seller is current on their monthly dues and plans to continue paying.

If you're an agent or a buyer in the San Diego area, you've probably seen a sticker belonging to Seacoast Garage Doors

It appears their advertising tactic is to go to every vacant house for sale(and some not vacant) and put their stickers inside the garage...on the garage door, the opener, the wall, the water heater, or just about anywhere they can find the space.

So when the new owner moves in and needs their garage serviced they think Seacoast must have done some work there previously so just call them. I would say that is false advertising. And I'm not sure if it is against any law, but at least violates some ethical or moral grounds to be distributing unsolicited advertising like this INSIDE a private home.

My recommendation is to avoid Seacoast Garage Doors solely based on this misleading form of advertising. If they were a good company, they could obtain business the old fashioned way by earning it or at least asking permission or paying for advertising space!!!

Have you been having problems with appraisals? Appraisers not giving the same value as the purchase price? This is nothing new and an appraisal is only an opinion of value, but I thought I would share this story...

A recent appraisal had the adjusted value of the 3 comparables as $262,500, $252,000, and $215,500. Value given for subject property: $215,000. How did $215,000 come from those 3 comps? Because the appraiser thought it was the purchase price.

When the appraiser was told the correct purchase price was $225,000, she corrected the subject property appraised value to $225,000.

Makes you think if an appraisal is to be an unbiased opinion of value, then maybe they should not see the purchase contract.

It's really too bad when such a "mistake" can cause a deal to fall apart which hurts buyer, seller, and everyone else involved.

I can't blame it all on HVCC, but it seems the changes haven't really made valuations more accurate, but just lowered the amount appraisers make and made it a little more difficult for loan officers and appraisers to collude.

Here is an events calendar of things to do which are fun and entertaining around San Diego County. With the great weather and diversity of lifestyles, there are many things to do each and every month. So get out and see all this area has to offer and most of all, have fun:

February 2011 Calendar of Events for North San Diego County

Please call ahead to confirm dates and times

FEB 1 - 28
Museum Month
Each February an entire month is dedicated to a special theme in San Diego as the arts & culture element celebrates Museum Month. Beginning Feb. 1, numerous arts institutions and museums throughout our county will open their doors at half price. For more information visit www.sandiegomuseumcouncil.org

FEB 1 - MAR 31
Whale Watching
Annual migration of California gray whales to the warm breeding grounds off the coast of Baja California. Glimpse these peaceful "giants of the sea" from Cabrillo National Monument or on special whale-watching cruises. 619-557-5450 or 619-236-1212

FEB 1 - APR 30
Wildflowers Bloom in the Desert
Depending on the rainfall in the winter, the natural beauty of the Anza Borrego Desert State Park is enhanced by the almost magical appearance of desert wildflowers in the spring. The full bloom is only for two to six weeks. 9am-5pm. 760-767-4684. www.parks.ca.gov

FEB 10
Mainly Mozart/Aiana String Quartet
At 2PM, in partnership with Mainly Mozart, the Museum presents the Aiana String Quartet for a FREE Valentines Day-themed performance. Their repertoire will feature string quartet music from both Mozart and Brahms. The quartet is the newly appointed Scholarship Quartet in residence at SDSU in association with Mainly Mozart. This event is free. 760-438-5996 or www.museumofmakingmusic.org

FEB 12 & 13
29th Annual San Diego Chinese New Year Food and Cultural Fair
The 29th annual San Diego Chinese New Year fair celebrates the Year of the Rabbit. The two-day celebration, will feature Chinese acrobats, lion and dragon dancers, Chinese folk dance and music, martial arts, and the Asian Story Theater. Families can also participate in Chinese crafts, Chinese calligraphy, and a children's activity area. In addition, more than 75 food and vendor booths will be available for the more than 25,000 visitors expected to attend the fair. The festival will take place at the Asian Pacific Thematic Historic District in downtown San Diego (Third Ave. and J Street) on Saturday, February 12 and Sunday February 13, 2011. 10am - 5pm both days! 619-398-7025 or sdcny.weebly.com

FEB 13
More That's Amoré - Oceanside Museum of Art
Spend a romantic Valentine's Day with your special someone at More That's Amore. Enjoy a unique theatrical performance of classic loves songs and cutting edge love songs from operatic arias to Broadway show tunes from local singers while sipping bubbly champagne and noshing tasty appetizers and delicious chocolate confections. Nonmembers are $25 and $20 for OMA members. 760-435-3720 or www.oma-online.org

FEB 14
Music & Amor Valentine Concert
At 8 PM, celebrate a romantic concert on Valentine's evening at the Museum of Making Music in Carlsbad. Enjoy live music of Wolf Marshall, dancing, wine, champagne, sparkling water, coffee and an array of scrumptious cheeses and decadent desserts. Tickets are $20 for Members; $25 for the general public. 760-438-5996 or www.museumofmakingmusic.org

February 18 - 21
Koalapalooza
To kick off our new Discovery Days, we've got quite a Koalapalooza planned for January! We'll be celebrating those much-loved denizens from Down Under, the koalas, along with some of their Aussie neighbors, like red kangaroos and kookaburras. We have a bonzer Australian party planned, so put on your bush hat, pack up your billy bag, bring the family and join us at the Zoo. www.sandiegozoo.org

FEB 27
Harlem Globe Trotters
Valley View Casino Center, 7pm. Tickets on sale now. www.harlemglobetrotters.com