Thursday, September 1, 2011
Thursday, August 4, 2011
ForSalebyOwner.com founder gives up on own listing, hires real estate broker
Former FSBO CEO sells home the traditional way
Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.
After giving up on the DIY route, Sambrotto’s decision to hire a broker led to attracting multiple offers, closing for $150,000 over the original asking price. The Wall Street Journal reports the listing sold for $2.15 million including a 6% commission.
Many FSBOs turn to Realtors
The news stands as an enormous validation of the real estate profession and while some may tease, it is no laughing matter and the former FSBO CEO made a good financial decision.
AGBeat columnist Herman Chan said, “If people want to take a stab at For Sale By Owner (ie FSBO), go for it. But well over 80% of FSBO’s eventually have to list with an real estate agent to get their house sold. It’s harder than it looks!”
Friday, July 29, 2011
Mortgage loan limits
Mortgage loan limits continue to be a topic of much debate in Washington DC:
Last week the Mortgage Bankers Association put out a statement by their President, David Stevens, advocating a continuation of the higher loan limits at Fannie, Fredie and FHA for one more year. The temporary loan limits authoized by Congress have benefited consumers and the housing market during what has been a turbulent period for our nation's economy," Stevens said in the statement. He went on to say "It looked very clear at the beginning of the year that we were heading toward a flattening of the market, but we've seen clearly an impact to the housing market which is not solely a result of the U.S. economy. It's brought on by general uncertainties: Oil prices spiked for a while, which hit confidence, there were a lot of impacts both domestically and internationally" "I think the view right now that I have is that this is a relatively inexpensive initiative that could support the housing market at a time when pulling back makes no sence." He also said private capital is still too nervous about the state of housing to come back in force now. As for the FHA, which he has maintained has too large a market share right now, "If FHA is still too big, it is the sign of an unhealthy system, but it doesn't mean pulling back is the right answer. We must continue providing support."
As President of San Diego Funding, I pre-approve many first time and buy-up potential home buyers and agree that it is very important to keep the higher loan amounts for another year. The housing market is still too fragile to lose any incentive that helps buyer's obtain financing. It is not helping the wealthy segment but the middle class which is imperative to the recovery in housing.
Linnea Arrington
President
San Diego Funding
2468 Historic Decatur Road #160
San Diego, CA 92106
ph: (619)260-1660 ext. 250
fax: (619)574-6735
email: linnea@sdfunding.com
Last week the Mortgage Bankers Association put out a statement by their President, David Stevens, advocating a continuation of the higher loan limits at Fannie, Fredie and FHA for one more year. The temporary loan limits authoized by Congress have benefited consumers and the housing market during what has been a turbulent period for our nation's economy," Stevens said in the statement. He went on to say "It looked very clear at the beginning of the year that we were heading toward a flattening of the market, but we've seen clearly an impact to the housing market which is not solely a result of the U.S. economy. It's brought on by general uncertainties: Oil prices spiked for a while, which hit confidence, there were a lot of impacts both domestically and internationally" "I think the view right now that I have is that this is a relatively inexpensive initiative that could support the housing market at a time when pulling back makes no sence." He also said private capital is still too nervous about the state of housing to come back in force now. As for the FHA, which he has maintained has too large a market share right now, "If FHA is still too big, it is the sign of an unhealthy system, but it doesn't mean pulling back is the right answer. We must continue providing support."
As President of San Diego Funding, I pre-approve many first time and buy-up potential home buyers and agree that it is very important to keep the higher loan amounts for another year. The housing market is still too fragile to lose any incentive that helps buyer's obtain financing. It is not helping the wealthy segment but the middle class which is imperative to the recovery in housing.
Linnea Arrington
President
San Diego Funding
2468 Historic Decatur Road #160
San Diego, CA 92106
ph: (619)260-1660 ext. 250
fax: (619)574-6735
email: linnea@sdfunding.com
Wednesday, July 27, 2011
If prices continue to fall, why should I buy now?
While price is the major concern for anyone selling a home, cost should be your primary concern as a buyer.
That means you have to take into account what your monthly payment will be, considering not only the price of the home, but also the interest rate of your mortgage.
Waiting for prices to bottom out while rates are increasing can wind up costing more over the life of your mortgage. Fannie Mae, Freddie Mac, the National Association of Realtors and the Mortgage Bankers Association are all projecting interest rates will increase over the next several quarters.
It's best that you meet with your mortgage professional to help you determine what an interest rate increase will cost you based on the expected size of your loan. Also the knowledge of your Realtor about the area(s) in which you are looking for a new home, what prices have done and are doing, whether the home you are looking at is a short sale or not, or foreclosure, will also help guide you as to what your best decision should be.
Interest rates are still under 5%, they are historically low, if prices drop even further, and the interest rate rises, your buying power can drop considerably.
America is based on home ownership, your landlord understands this, are you ready?
Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
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Monday, July 25, 2011
Sunday, July 10, 2011
Friday, June 3, 2011
The California Dream
Living the California Dream
Brian Arrington, owner, Pacific Sotheby’s International Realty, San Diego
With more than 300 days of sunshine per year, average temperatures in the low 70s and only about 10 to 20 inches of rain along the coast each year, San Diego is renowned for its idyllic climate, making it is a major destination for global visitors as well as a highly desirable place to live. In addition to having some of the nation’s finest beachfront, ocean view, ranch property and golf course locations, San Diego is unique in that it has incredible palette of industry, activity and culture that defines luxury living. Show full article +
With more than 300 days of sunshine per year, average temperatures in the low 70s and only about 10 to 20 inches of rain along the coast each year, San Diego is renowned for its idyllic climate, making it is a major destination for global visitors as well as a highly desirable place to live. In addition to having some of the nation’s finest beachfront, ocean view, ranch property and golf course locations, San Diego is unique in that it has incredible palette of industry, activity and culture that defines luxury living.
Real estate in San Diego remains a buyer’s market, so now is the perfect time to begin living your own California dream.
Coronado
Connected to downtown San Diego by the arching Coronado Island Bay Bridge and to southern San Diego County by a slender, sandy isthmus, Coronado Island is one of the area’s most beautiful communities, and technically a peninsula, not an island. The historic Hotel del Coronado is one of the city’s most famous landmarks. It is one of the few surviving examples of an American architectural genre: the wooden Victorian beach resort. It is the largest beach resort on the North American Pacific Coast. Coronado’s white sandy beaches seem to stretch on forever and have earned numerous ratings as one of the top ten beaches in the United States. Coronado offers everything for the active lifestyle with the charm of an old-fashion neighborhood.
Mission Hills and Uptown
Just north of the city and overlooking Mission Valley and Presidio Park is Mission Hills, one of San Diego’s oldest and most desirable neighborhoods. Over the years some of San Diego’s most prominent architects designed homes in the area including Richard Requa, William E. Hebbard and Emmor Brooke Weaver. Mission Hills is an upscale, family-friendly community comprised of grand historic homes and quaint craftsman bungalows lining its winding hilltop streets.
Point Loma
Point Loma is a seaside community of San Diego located minutes from downtown. It is known for its impressive bay, considered to be one of the best natural harbors on the western coast of North America. Point Loma is also home to the Cabrillo National Monument and Point Loma Lighthouse, which offers breathtaking views of the city of San Diego and beyond. The monument was erected in honor of Captain Juan Rodriguez Cabrillo, the first European to set foot on the west coast. Also on the site is the original lighthouse, which was replaced in 1891 by the one that still steers vessels away from shore. Tidepools and hiking trails delight both tourists and residents alike. Most neighborhoods in Point Loma consist primarily of single family homes. The bayside residential area is called La Playa and includes some of the most spectacular views in San Diego.
Downtown
Downtown is San Diego’s oldest and newest hot spot. With more than 12,000 housing units just built or in the works, downtown is once again becoming the center of San Diego. From the Gaslamp area restaurants, shops and nightclubs to the hip East Village surrounding downtown’s newest addition Petco Park, the new home of Padres baseball, downtown San Diego real estate is booming with apartment and condo housing shooting up into the sky.
La Jolla
Also known as “the Jewel By The Sea,” La Jolla is one of the most prestigious communities in San Diego County, from the grand homes perched high on the hill of Mount Soledad to the contemporary homes that line the ocean view bluffs and sandy beaches. The village is Mediterranean in design and has long been home to several famous residents who could live anywhere but choose La Jolla for its gorgeous coastline, world class restaurants, shopping, art galleries and museums. La Jolla is also home to one of the most well-known municipal golf courses, Torrey Pines, which was the site the 2008 U.S. Open golf tournament.
A Big Small Town
Locals often refer to San Diego as one of America’s biggest small towns, which is pretty amazing considering that San Diego is California’s second largest city and the United States’ eighth largest. San Diego has a population of close to 1.3 million residents within its City and more than 3 million residents within the County.
In addition to being known for its idyllic climate, San Diego is home to several thousand cutting-edge software and computer and communications companies and the biotechnology industry is ranked the third largest in the country. There are more than 26 accredited hospitals ranking San Diego in the top three cities for quality and costs of healthcare. San Diego is home to the largest military concentration in the county bringing in close to $20 million in defense spending each year.
The City offers a tremendous variety of things to see and do. Museums abound in San Diego, focusing on history, technology, culture and art. Annual music and stage festivals in the City include the San Diego Symphony, San Diego Opera, La Jolla Playhouse, Old Globe Theatre and San Diego Street Scene. San Diego’s theatres also regularly create Broadway hits such as “Jersey Boys,” “Memphis,” “The Who’s Tommy” and seven others in the last 10 years.
The City of San Diego alone has 34,260 acres of developed and undeveloped open space including three regional parks, 190 community and neighborhood parks, seven open-space parks, 26 shoreline parks and 25 miles of ocean and bay beaches. Balboa Park is a national treasure, housing museums, theatres, and the San Diego Zoo.
Whether it’s the dream of a larger residence, a second home, vacation or investment property, or even the perfect place to retire, opportunity abounds in San Diego.
Brian Arrington, owner, Pacific Sotheby’s International Realty, San Diego
With more than 300 days of sunshine per year, average temperatures in the low 70s and only about 10 to 20 inches of rain along the coast each year, San Diego is renowned for its idyllic climate, making it is a major destination for global visitors as well as a highly desirable place to live. In addition to having some of the nation’s finest beachfront, ocean view, ranch property and golf course locations, San Diego is unique in that it has incredible palette of industry, activity and culture that defines luxury living. Show full article +
With more than 300 days of sunshine per year, average temperatures in the low 70s and only about 10 to 20 inches of rain along the coast each year, San Diego is renowned for its idyllic climate, making it is a major destination for global visitors as well as a highly desirable place to live. In addition to having some of the nation’s finest beachfront, ocean view, ranch property and golf course locations, San Diego is unique in that it has incredible palette of industry, activity and culture that defines luxury living.
Real estate in San Diego remains a buyer’s market, so now is the perfect time to begin living your own California dream.
Coronado
Connected to downtown San Diego by the arching Coronado Island Bay Bridge and to southern San Diego County by a slender, sandy isthmus, Coronado Island is one of the area’s most beautiful communities, and technically a peninsula, not an island. The historic Hotel del Coronado is one of the city’s most famous landmarks. It is one of the few surviving examples of an American architectural genre: the wooden Victorian beach resort. It is the largest beach resort on the North American Pacific Coast. Coronado’s white sandy beaches seem to stretch on forever and have earned numerous ratings as one of the top ten beaches in the United States. Coronado offers everything for the active lifestyle with the charm of an old-fashion neighborhood.
Mission Hills and Uptown
Just north of the city and overlooking Mission Valley and Presidio Park is Mission Hills, one of San Diego’s oldest and most desirable neighborhoods. Over the years some of San Diego’s most prominent architects designed homes in the area including Richard Requa, William E. Hebbard and Emmor Brooke Weaver. Mission Hills is an upscale, family-friendly community comprised of grand historic homes and quaint craftsman bungalows lining its winding hilltop streets.
Point Loma
Point Loma is a seaside community of San Diego located minutes from downtown. It is known for its impressive bay, considered to be one of the best natural harbors on the western coast of North America. Point Loma is also home to the Cabrillo National Monument and Point Loma Lighthouse, which offers breathtaking views of the city of San Diego and beyond. The monument was erected in honor of Captain Juan Rodriguez Cabrillo, the first European to set foot on the west coast. Also on the site is the original lighthouse, which was replaced in 1891 by the one that still steers vessels away from shore. Tidepools and hiking trails delight both tourists and residents alike. Most neighborhoods in Point Loma consist primarily of single family homes. The bayside residential area is called La Playa and includes some of the most spectacular views in San Diego.
Downtown
Downtown is San Diego’s oldest and newest hot spot. With more than 12,000 housing units just built or in the works, downtown is once again becoming the center of San Diego. From the Gaslamp area restaurants, shops and nightclubs to the hip East Village surrounding downtown’s newest addition Petco Park, the new home of Padres baseball, downtown San Diego real estate is booming with apartment and condo housing shooting up into the sky.
La Jolla
Also known as “the Jewel By The Sea,” La Jolla is one of the most prestigious communities in San Diego County, from the grand homes perched high on the hill of Mount Soledad to the contemporary homes that line the ocean view bluffs and sandy beaches. The village is Mediterranean in design and has long been home to several famous residents who could live anywhere but choose La Jolla for its gorgeous coastline, world class restaurants, shopping, art galleries and museums. La Jolla is also home to one of the most well-known municipal golf courses, Torrey Pines, which was the site the 2008 U.S. Open golf tournament.
A Big Small Town
Locals often refer to San Diego as one of America’s biggest small towns, which is pretty amazing considering that San Diego is California’s second largest city and the United States’ eighth largest. San Diego has a population of close to 1.3 million residents within its City and more than 3 million residents within the County.
In addition to being known for its idyllic climate, San Diego is home to several thousand cutting-edge software and computer and communications companies and the biotechnology industry is ranked the third largest in the country. There are more than 26 accredited hospitals ranking San Diego in the top three cities for quality and costs of healthcare. San Diego is home to the largest military concentration in the county bringing in close to $20 million in defense spending each year.
The City offers a tremendous variety of things to see and do. Museums abound in San Diego, focusing on history, technology, culture and art. Annual music and stage festivals in the City include the San Diego Symphony, San Diego Opera, La Jolla Playhouse, Old Globe Theatre and San Diego Street Scene. San Diego’s theatres also regularly create Broadway hits such as “Jersey Boys,” “Memphis,” “The Who’s Tommy” and seven others in the last 10 years.
The City of San Diego alone has 34,260 acres of developed and undeveloped open space including three regional parks, 190 community and neighborhood parks, seven open-space parks, 26 shoreline parks and 25 miles of ocean and bay beaches. Balboa Park is a national treasure, housing museums, theatres, and the San Diego Zoo.
Whether it’s the dream of a larger residence, a second home, vacation or investment property, or even the perfect place to retire, opportunity abounds in San Diego.
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