San Diego Real Estate – Sellers Market, Buyers Market or …………..Lenders Market?
July 6th, 2009 categories: Local San Diego News You Can Use, San Diego Real Estate
San Diego Real Estate – Sellers Market, Buyers Market or …………..Lenders Market?
Buyers rule? Not so fast. Certainly that’s not quite true if the property falls under the category of distressed property.
Distressed property usually needs far more than a paint job, at least, that’s true, or has been up to now in San Diego’s Homes for Sale market. Property is considered distressed if it has been foreclosed by the lender or the owner is seriously late in making payments or the property is upside down. Upside down meaning that the value of the property is less than the mortgage amount.
So what am I meaning by Lender’s market?To define a “Lenders Market”, let’s first review the characteristics of a ” Seller’s Market ” and a “Buyers Market“.
In defining a “Sellers Market”, we usually find a lower than usual and faster moving inventorywith prices generally increasing and the Seller more clearly in control to determine the outcome of any successful effort to purchase. Buyer’s tend to pay more ( often times more than property might be listed for). Many of the buyers contingencies are either eliminated or greatly reduced. The time for removal of contingencies is shortened. In some cases many of contingencies are negotiated way, such as a buyers typical request for repairs and the length of time the buyer has to obtain services such as appraisal and loan approval.
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San Diego Real Estate – Big Bay Boom July 4th Celebration
July 4th, 2009 categories: San Diego Real Estate, William's Life in San Diego Musings
San Diego Real Estate – Big Bay Boom July 4th Celebration
San Diegoans stare in awe at the night sky of the amazing specular pyrotechnics on display tonight throughout 16 areas of San Diego. And yes, yours truly will be at one of them, hopefully to get some new outstanding pictures for next years post.
The Big Bay Boom as it is called on the Bay in Downtown San Diego has a budget of over $100,000 and is best seem from Seaport Village. One of the best ways to get is there is park at one of the satellite trolley stations near downtown and take the trolley. You can avoid much of the traffic associated with this annual event and simply walk from the trolley station to Seaport Village. More »
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Summer Saving Energy Tips While Still Staying Cool In San Diego
June 29th, 2009 categories: San Diego Real Estate, William's Life in San Diego Musings
San Diego has been enjoying moderately cool temperatures of late but heat will be returning soon and here are some ways to conserve energy that can be implemented now and help you remain comfortable as the heat begins to rise. While the San Diego climate is moderate year around, in the summer , our temperatures can very warm especially inland and away from the coast.
Living in San Diego, we needs fan to circulate the wonderful breezes we are get living near the ocean. But if your windows are closed up and if you have no fans, you are missing one of the best features of living here in San Diego. Ceiling fans today are a very affordable alternative to air conditioning and reasonably easy to install.
So for starters lets turn off the air conditioning on those days when the temperature starts rising into the high 70’s and 80’s. Open up the windows and turn on the fans. Costco sells these portable misters and a quick shot on the face or neck and you will be cooled right down. The Misting Mates are made for outside, but if you don’t tell, I won’t. And don’t fear getting wet, just take a quick spray and with the air being circulated through your home you will feel very comfortable. More »
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The Unintended Consequenses of Change
June 26th, 2009 categories: San Diego Real Estate
For years now we have heard all about the changes in our real estate industry from Lending issues, inspections, forms and disclosures, the marketing of properties, lead generation, you name it it has changed. And selling a home in the San Diego real estate market has been affected just like all the other areas around the country. As the Voice of San Diego Real Estate, it is important we all grasp these unintended consequences of change and I am pleased to present this explanation here in the Real Estate Text Book.
In a comment I made to well known and highly respected Real Estate Professional and Blogger Lenn Harley, I suggested a new definition of this change. Change is when something happens that you didn’t want to happen but must now adapt to it ( as in just live with it). Some have wished that we could continue to do business the way we used to do business. The answers that come opposed to that recent way of thinking and doing things are from those that were able to adapt early and take advantage of modifying their business and doing it early.
At the time of the sub prime crisis, many were faulted and to head off the possibility that this scenario of runaway home prices could happen again, the entire system of lending basically collapsed and is being refashioned not necessarily by those that would be the most skilled at it. Along with the lending underwriting changes, another segment of the industry not always thought of as the one segment that actually facilitated the ballooning of property values has also been modified. The appraisal.
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Largest Desalination in the Western Hemisphere …. A Go!
June 25th, 2009 categories: San Diego Real Estate
The largest Desalination plant in the western hemisphere is finally a go! That is if there are no more delays. I have written several posts about the Poseidon Resources proposal and the approval plan to build the largest Desalination plant in western hemisphere in Carlsbad, California.
It has been an uphill battle for Poseidon Resources to gets it’s Desalination plant built having gone through an enormous approval process with the Coastal commission and state and regional water boards. And with intermittent lawsuits by environmental groups who are opposed it its construction and operation plans. ( a lawsuit still pending decision at this time) after years of prevailing against these lawsuits, it seemed that the final hurdle has been cleared.
With a final approval of a compromise deal to provide 55.4 acres of wetlands to be used as a marine nursery to replace marine life that would be killed off by the Desalination process, Poseidon expects to finally begin construction of the new plant by the end of this year.
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