Links to Help You Research Schools, Communities, Crime and the Housing Market

If you are buying your first home you are very likely spending a lot of time researching on the Internet. And why not? There’s a ton of information there.

Are You Researching on the Internet? You Should Be!

The things that tend to be of interest, apart from listings, of course, are schools, communities, crime and the housing market itself.

I wrote a recent article for relocations, providing a bunch of links to various sites in these areas. But you might find this resource useful as well.

READ MORE:  Internet Aids for Helping You in Your Relocation to Carlsbad

Of course this information can be useful no matter what community you are interested in.

If I can help further, just let me know.

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler

My Buyer’s Short Sale Checklist

Lots of buyers these days are considering short sales in their home search. And you should.

A short sale MAY not be the best deal for you, and they require a great deal of patience because of how long they can potentially take to close.

In some markets and budgets, you may not have a choice but to look at distress homes.

Here are some things you need to consider:

1.  Determine your patience level (know that getting a response on a short sale can take weeks or longer; how long are you willing or able to wait?)

2.  Hire a knowledgeable agent (always a smart idea but work with someone who has some experience with short sales – what they are, how they work, etc.)

3.  Get pre-approved (again, always a good idea, but know that some short sale listings will mandate you provide a pre-approval from a specific lender, namely the one who is the primary loan)

4.  Understand why you want to buy a short sale (sounds simple, but they are not necessarily great deals and there are many hurdles – are you truly serious about buying one?)

5.  Understand the basics of what a short sale is and how it works (there’s that requirement again to work with a knowledgeable agent who hopefully is not testing the short sale waters with YOU!)

6.  Understand what AS IS means and be prepared for it (short sales generally are sold AS IS, i.e., without any warranties or repairs)

7.  Plan to have a complete home inspection (you are foolhardy, in my opinion, if you are not VERY thorough in your due diligence; you can’t cry “I didn’t know” after the fact)

8.  Look at your budget carefully (do you have cash to take on repairs and other unexpected expenses, on top of the mortgage, interest, insurance, HOA fees, etc.?)

9.  Set expectations (but be realistic, and prepared. Some homes show well and others are, well, shocking)

10.  Be prepared for surprises and changes (real estate is fraught with surprises, and short sales are no exception)

11.  Don’t expect short sale transactions to act like other deals you may have been involved in – they have their own set of “rules”

12.  Be willing to move on (be prepared to make the decision to move after submitting a offer if you need to) or to at least continue looking at other homes

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler

Yet Another Tax Credit

Tax credits are popping up left and right.

First there is the $8,000 tax credit for first time home buyers that arose out of Obama’s stimulus plan. Good news for some buyers in today’s market.

Now California is providing a tax credit for buyers (first timers or anyone else) of up to $10,000. The requirements are:

• you must buy a home on or after March 1, 2009 and before March 1, 2010
• the home MUST be your primary residence
• the home must never have been occupied (new construction)

This credit program is being run by the State of California Franchise Tax Board, and credits will be allocated on a first come first serve basis until the total monies ($100,000,000) are used up.

Read more on the Franchise Tax Board website.

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler

Termites and Short Sales

This post is about termites and short sales.  And pre-foreclosures and REOs, too.

This is NOT to imply there are more problems with these homes than the typical sales. Termites don’t discriminate – they like wood no matter what type of home it is.

The issue for buyers, however, arises out of the fact that (1) the home is being sold AS IS, and (2) the homeowner is financially strapped and owes the bank more money than the home is worth on the market.

In the typical sale here in Southern California, buyers negotiate for the seller to do a pest inspection AND to take care of remediating termites as well as repairing the damage. Sellers don’t always agree, but it’s pretty common. A major reason this is done is because the buyer’s lender does not want to lend more on a home (their collateral) that is termite infested. Makes sense that they want a clearance on the property before closing.

Buyers – be aware that the bank may not be willing to do (pay for) the termite inspection. But more costly is the fact they may not be willing to pay for the remediation and repairs. The seller can request the bank pay this in order to get the short sale completed. But if they refuse the buyer will have to agree to the additional cost, or back out of the transaction.

Of course you will have access to the report so you will know the costs of remediation. But it is a monkey wrench that can thrown into the mix. Just thought I’d warn ya.

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler

Condos under $100,000 in San Diego?

Yes, it’s true. Despite all that you have heard over the year there ARE condos to be had in North County San Diego for under $100,000. Yep, many of these are short sales or bank owned but I just put one into escrow that is in terrific move-in condition. They don’t ALL need tons of work and some are 2 or even 3 bedroom.

READ MORE: Condos in North County San Diego for under $100,000.

You can do your own searching using the link below, too.

Let me know if you need any help or have questions.

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler