Daylight Savings Time is Ending Soon
Just a quick reminder that Daylight Savings Time in ending next Sunday morning, November 4, at 2:00 AM. Don’t forget to reset your clocks, including your computer is it does not reset automatically as many do.
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Everyone is aware of the fires that have been burning here in San Diego and I hope all of you who are living here are safe, and you have not suffered any losses. My thoughts and prayers are with any of you who have, and for those of you who may still be evacuated.
I have not done much writing except about the fires in the last week – here’s a recent post that, along with many comments, helped chronicle events this week.
Also, please know that right now there is a homeowner’s insurance moratorium in place, which means that homes that are in escrow and due to closes very soon may be delayed, since insurers are not writing new policies due to the fires. This is temporary and we expect this will change within the next day or so.
Short Sales NO: Bank Owned Properties YES
I’ve written about the issues involved in buying a short sale home in the past.
I don’t really encourage first time buyers to go after them because they can be so difficult and frustrating. That’s not to say you should not consider them as part of your home search strategy, but beware…they can really try your patience, and they are NOT necessarily a good deal. Doing your homework is ESSENTIAL!
On the other hand Bank Owned Properties can be a good opportunity for you.
Also referred to as REOs, these are properties that have been through the foreclosure process but not acquired at auction so the bank now owns them and is selling them publicly through an agent on the MLS.
- Some of them can be very well priced because the bank wants to off-load them.
- And they are generally handled just like any other real estate transaction, as opposed to the complexities of the short sale.
As always, you will want to do your due diligence to see if they are priced well for the market. And as part of the offer process a prudent buyer will conduct a thorough home inspection with a licensed inspector.
Consult with the agent you are working with, or feel free to give me a call/text message (760-840-1360) or send me an email to JDowler@remax.net.
MORE ARTICLES ON SHORT SALES:
Are You Hunting for a Deal? Short Sales – Perhaps Not the Deal of the Century
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New Search Technology for Buyers
I am always tweaking my website, and my blogs, trying to provide the best information I can for buyers and sellers. It’s a challenge because it takes time, and there is so much out there.
You’re on the Internet every day and you already know this…it can be overwhelming.
For those of you who are actively involved in searching for a home, or who are thinking about it, I just added some new search technology to my website that is really topnotch – in my opinion (and that of many others), the BEST there is out there.
One of the best aspects is the ability to search using dozens of different search terms, not just square footage, town, number of bedrooms and baths as in the typical agent website. There’s some other good stuff, too, but why not just test it out yourself.
Just click on the Carlsbad Home Search link below and you will see. Why not sign up to be a VIP Buyer while you’re at it? It’s FREE and there is no obligation, and you get the best searching around for home buyers. Good luck and have fun.
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS
Quick Home Valuation on Your Cell
Buyers, and those who are simply curious, often want to know about the value of homes they see.
For those with cell phones (that’s, like 99.99% of you isn’t it?) you can simply TEXT MESSAGE HouseFront and within a few seconds you will have the estimated value plus the sales history of the home you are interested in (not every home is listed yet – the service is only a few months old).
BTW HouseFront is 46873.
Keep in mind this is an ESTIMATE and may not actually reflect the true value of the home. Just as Zillow may underestimate or overestimate, HouseFront should just be used as part of the data collection in determining the true value.
Ask your REALTOR to help you – that will give you the best sense of what a home is valued at in this market. If you are just curious, HouseFront is fine, but don’t make a buying (or selling) decision on this information.
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS
More on Listing Photos
The real estate industry knows that buyers want photos of listings., based on what buyers keep telling us. Preferably LOTS of them.
But given the number of listings where there photos are missing, or there are only a couple and they are terrible, it’s clear that MANY agents just don’t get it. And don’t care (oh, and what about the clients they are supposedly serving?). Quite frankly it’s embarrassing to me as an agent.
And annoying to YOU, the buyer, no doubt.
We also know virtual tours are becoming more popular and more in demand. Given the ease of digital photography, it is hard to understand why, given what WE know, that photos are still so few and far between, and of such poor quality (who cares about the toilet in the bath – we all know there is one, right?).
In this market where there is lots to choose from, you probably just ignore those listings without photos. I don’t blame you, given the number of choices.
You have to decide for yourself, but I would not be too hasty in passing over listings without photos, unless you just don’t have time to peruse them all and have to eliminate some of them. You may miss out on a great home.
If you are working with an agent perhaps he/she can take photos for you. Or you might just drive by (if you have the address) to check it out just in case.
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
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Beware of Median Prices
The real estate industry, and everyone who reports statistics on the housing market, use MEDIAN PRICES as a basis of comparison – how the market is doing now as compared to a prior time frame, for comparing different towns, and so on. The median is the point at which 50% of the homes sold for more money (or less).
While the median price is useful information, you must be careful to not place too much stock in what it is telling you. It will shift each month, potentially, as the sales do (lots of high end or low end sales may shift the median). The MLS reports sales once they have closed escrow (as they say here in CA) or once settlement has occurred. However this is often 1 to as much as 3 months after the home originally came off the market when a contract was first accepted.
Why is this important?
If it is reported that the median price of a home in Carlsbad, for example, is $X, that data actually may underestimate (if the market is rising) or overestimate (if the market is falling as it is in many places) the actual situation since the data are based on homes that “sold (went under contract) 1-3 months ago.
This is NOT to say you should not pay some attention to this information. Just don’t rely on it other than as a indicator of current trends.
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
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Another Website for Researching Communities
I came across another website you might want to try out in your research on-line as you try to figure out which community, like Carlsbad, or anywhere else, to buy your new home in.
Zip Skinny is a neat site that provides a range of information on communities throughout the country – finanacial, housing, crime, and so much more. It could be a good way to get the general idea about communities that interest you and to compare them. Keep in mind that the data are only as good as what the site captures – census data, for example, is a few years old.
Here’s an example of information on 92009 in Carlsbad California.
I certainly would not rely solely on this site to get all the info you want on a community but it’s a good starting point and may tell you some things you won’t learn elsewhere. I also recommend that folks investigate the Chamber of Commerce site for the towns that interest them as well as the town website (here is the town website for Carlsbad).
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS
Do You Feel Stupid?
You’re a first time buyer and you know you have a lot to learn. You are still trying to figure out what it is that you want to buy, and where. It’s a huge decision, and you have never done it before so you have no experience. So you may feel that you don’t know what you are doing.
As you come in contact with real estate agents, and perhaps mortgage brokers, during this process you will likely get asked lots of questions.
- Do you feel stupid because you don’t know the answer?
- Do you feel that you should know?
- Are you embarassed because you DON’T know?
There’s a good chance that you will feel this way from time to time. I don’t think that people necessarily are tying to make you feel dumb, or that you don’t know anything, but in their quest to be helpful, or to try and get YOUR business (agents, of course, want to SELL you a home), they may ask questions that really make you feel stupid, or wrong in your thinking.
Some of it is just plain salesmanship and it can be pretty annoying. You might feel that you are getting pushed in a direction you don’t want to go, or don’t feel ready for. Plus you might get the feeling that they don’t REALLY want to help YOU, or have YOUR best interests at heart but are focused more on just making a sale…and a commission.
Listening carefully to a buyer, especially a first time buyer, is critical in order to really understand what they want and need, and to help them make some decisions. Asking good questions to help you sort through all the confusion, and to find out what things you don’t know so you can become better educated, is essential. As is recognizing your feelings and concerns and allowing you to feel the way you do rather than imply that it is wrong.
Listen to your feelings. And steer clear of folks that make you feel uncomfortable. There are plenty of good agents, and mortgage brokers, that ARE there to help – to make you feel comfortable, to educate you, to assist you in your quest for a home and NOT only be concerned about a sale. They DO have your best interests at heart, and won’t push you to make a decision you are not ready to make.
Keep an eye out for these people – when you find them you will feel comfortable and want their help. And you won’t feel stupid.
READ: Do I need to use an agent?
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS
First Time Buyers – Silence is Golden
A few words to the wise, for those of you who are buying your first home (or even those who are more experienced).
When you find that home that really excites you, it’s hard to not talk about it…what you like about the home, where you would put your furniture, etc. You SHOULD be that excited. Just make sure you are not talking about your feelings in front of the SELLER or the LISTING AGENT. And presumably you have an agent who is representing YOU so it’s OK to talk with him/her.
Silence is golden, when it comes to this situation, and making an offer. As a first time buyer you want YOUR agent to represent YOUR best interests, so make sure you are not revealing things to the seller unintentionally that might jeopardize your ability to negotiate the best price and deal. Once the seller (or the seller’s agent) knows you LOVE the place they are going to expect that you will pay more to get it. Don’t let that happen. Let your agent do the talking with the seller and listing agent.
Make sure things that should be confidential stay confidential…with you and your agent. If there are things you don’t want revealed (like you will pay full price if you need to), make sure this is clear with your agent.
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
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What do You Want in Your New Home?
If you are thinking about buying California real estate in Carlsbad or some other nearby area, you are likely considering all the things you would like to have in your home – number of bedrooms and baths, size of house, type of yard, location, and much more.
Because of the weather here, outdoor living is a big part of the lifestyle, and so you may be looking at homes that can afford you that opportunity. If this is of interest, why not read more on outdoor living and kitchens?
Another aspect of much of Carlsbad real estate as well as most other coastal communities are water features. I wrote a recent post about these in Carlsbad homes if you are interested in learning more or just enjoying some photos.
Are you a buyer who prefers to live in a gated community in Carlsbad? If so , here are some things to know and a list of Carlsbad communities that are gated. If you want to know about other areas nearby (Cardiff, Encinitas, San Marcos, Rancho Santa Fe, Solana Beach, Del Mar, Oceanside), please let me know and I will get you the details of those communities.
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Start your CARLSBAD HOME SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS
