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Don't Forget to "Spring Forward"

This Sunday at 2:00 am, because of Daylight Saving Time, remember to set your clocks one hour ahead.
This is also a great time to change your smoke detector batteries, whether you think they need it or not.
Make an emergency plan with your family and put together an emergency kit.
Finally, make a list of all of items in your home so in case you face a disaster and have to replace items or make an insurance claim you'll know what was lost.  A Home Inventory Guide can be found through the California Department of Insurance.

Protect Your Home from Rain

Is the Rain Damaging Your Home?
With so much rain in San Diego in the past few months it's important to make sure your home is cared for.  As important as rain is to the San Diego area, water can damage your home severely if you ignore it. Here are some things to do to safeguard your home:
1.  During rain make sure your windows are closed.  If water gets into your home or on the windowsill, dry it off immediately.
2.  If you have rain gutters make sure they are clean from leaves and debris so the water is directed away from your home.  If you live in an association responsible for the gutters and notice a problem, let your HOA know immediately.
3.  This is a great time to see if your roof is leaking.  If you have any areas of your ceiling that look stained from water call a roofer to have any issues fixed.
4.  After it rains, look around the outside for any standing water near the home.  This could be a sign that there is a drainage issue needing to be addressed.  You definitely don't want water puddling next to your home as this can damage your foundation. 
5.  Avoid bringing water inside from your shoes, jacket, or umbrella. This can damage your floors.  Keep a dry towel handy just inside the door to lay wet items on. If you have a dog you can use the towel to dry his coat and feet off.
6.  Make sure water doesn't get into your garage and damage items on the ground.
7.  After it rains, open your windows to air your home out.  If you don't, moisture can stay, which can lead to mold and mildew.
Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction.  If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Carmel Valley, San Diego (92130) Home Market Update

Carmel Valley, San Diego (92130) Home Market Update

Total Number of Homes For Sale: 194 (30 are short sales)
Detached: 134 (10 are short sales)
Townhomes: 25 (5 are short sales)
Condos: 35 (15 are short sales)

Price Range: $215,000-$6,949,000 (median $972,500)
Detached: $579,000-$6,949,000 (median: $1,319,000)
Townhomes: $335,000-$714,900 (median: $499,000)
Condos: $215,000-$565,000 (median: $375,000)

Homes Currently in Escrow (Pending Status): 82
Detached: 45
Townhomes: 19
Condos: 18 Total

Closed Escrows Last Month - February 2010: 38
Detached: 24
Townhomes: 7
Condos: 7

San Diego's Ugly Dog Contest this Sunday

This Sunday, March 7, at the Del Mar Fairgrounds is the 15th Annual Ugly Dog Contest.  In addition to the Ugly Dog prize, contests will be held for other categories including, Best St. Patty's Day Costume, Cutest Dog, Best Mutt, Best Trick, and the Dog Who Looks Most Like its Owner, among others.
Tickets are $8 for adults and $2 for children (with an additional cost if you are entering your dog), with proceeds benefiting:
Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction.  If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Buying a Condo? Don't Forget Insurance.

While insurance isn't the most glamorous topics, it's a vital part of home ownership.

Generally, when buying a condo or townhome, your HOA dues help pay for a master insurance policy to cover the structure. You, or the interior of your condo, isn't covered under the master policy, so if your home is burglarized, damaged by fire/flood, or if someone hurts themselves inside your home, you have no insurance protection.

To protect yourself you can purchase a special policy, called an "HO-6" policy. This type of policy will generally cover you in case someone gets hurt, your condo is damaged by flood or fire, or if your property gets stolen. It's fairly inexpensive and the value to you is immense.

More and more lenders are now requiring HO-6 coverage before funding a loan. If you're buying a condo or townhome look into HO-6 coverage immediately so your insurance agent has time get a copy of the master policy to verify what coverage you need. Whether required or not, obtaining additional HO-6 coverage can help shield you from potential future expenses.

*Disclaimer 1: I'm not an insurance expert so be sure to consult with a licensed insurance agent about necessary coverage.

*Disclaimer 2: Although insurance can be a boring topic, I'll have future blogs about specific insurance topics. That's how important I think insurance is!


Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction. If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

7 Truths about Buying a Short Sale

With so many short sales on the market it's hard to ignore them. A short sale is where the seller owes more on the home loan than he can sell it for. So, he'll come up "short" on paying back the full loan amount. If the seller has cash to make up the difference he can pay the short fall. If not then he will need to pursue a short sale, where the bank agrees to take less than the amount owed. This presents problems for the seller and buyer because both are at the mercy of the bank's decision whether to allow the home to be sold at a loss to the bank.

1. Seller sets list price, not the bank. The person who originally bought the home is the seller. The bank doesn't own the home and doesn't give input on the list price. Banks usually won't get involved in a short sale until there is an offer on the home. The seller, with the help of his agent, sets the list price. Because it's unknown what price the bank will consider, even if you make a full price offer, the bank may come back demanding a higher price after an appraisal done.

2. You will wait. If your offer is accepted by the seller, you will wait a long time for approval. Not weeks, but usually many, many months. Most buyers think they can wait, but after several weeks of waiting it can become stressful watching other homes come and go on the market. A short sale doesn't involve a simple bank approval. The bank has to review seller financial documents, make sure that the sale is due to a hardship (even though this isn't required), order appraisals and price opinions, etc. Because an approval involves many people the time to get an answer can be staggering. In the end, the bank may not even approve the short sale.

3. You will receive very few updates. Of course you want to know what's happening. The agents do too. Most likely, there is nothing to know and so the update will be, "Nothing new." Because the process is so far removed from the agents' control it doesn't mean that the seller's or your agent isn't trying to get information. This just goes back to waiting and waiting to hear anything.

4. Don't count on repairs, a home warranty, or termite inspection. The seller is already asking the bank to take a loss so don't be surprised if the seller can't do repairs, give you a home warranty, or anything else that costs. These terms can usually be negotiated in a non-short sale, but I'm seeing more and more banks not approving anything that takes additional money from it.

5. If you commit then commit. It's so easy to put in an offer, get it accepted, and keep shopping for a home. Then if you find something else, you cancel your short sale offer. This happens so frequently and really puts the seller at risk. The seller accepted your offer in good faith, expecting you to ride it out to the end. If you walk away from the deal because you found something else, you shouldn't have put the offer in. If you know and accept the risks associated with short sales then stay committed. If you cancel after doing this the seller has to start all over.

6. A foreclosure isn't always looming. Many buyers believe that if there is a short sale, the owner must be facing foreclosure, so they low ball the price or wait until it becomes a foreclosure. This isn't true. While that scenario is happening a lot right now, there may be other reasons the sellers are trying to sell the home. The sellers may be getting a divorce, a job transfer, a military order, etc. Whatever the reason, low balling doesn't work. The bank approves the price based on appraisal and other information.

7. There is no guarantee of approval and circumstances may change. I had someone recently contact me for my opinion. She waited out a short sale approval for 7 months. She was using an FHA loan. Because FHA condo approval requirements changed while she waited, she could no longer buy the home. Laws and policies when buying a house changes rapidly and the circumstances you faced when making an offer may be different than what is happening when the approval is given. Plus, even if you wait it out there is no guarantee that the bank will approve the short sale.

So how do I protect myself? The short sale approval process is finally getting some attention. Hopefully we'll see some changes soon that speed up the approval process. If you pursue a short sale you are at the mercy of the bank. Some things to keep in mind:

First, in the offer you can include a provision that you must get approval from the bank by a certain date or you can cancel the contract. I have yet to see a bank respect the date, but at least it gives notice of how long you are willing to wait before looking for a different home.

Second, ask your agent to get as much information as possible about the seller and the loan. Sometimes that information will help you decide whether or not to make an offer.

Third, offer a realistic price so that the bank doesn't have to reject the short sale because it's lower than the appraised value.

Fourth, if the bank responds wanting a higher price or additional cash from you, and you can't go forward because of it, see if the bank will negotiate. The bank doesn't always respond well to this, but if the change is something that keeps you from buying the home, then it may helpful to try negotiation.


Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction. If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Um...I've Changed My Mind...Sorry

"I've Changed My Mind."

On Friday at 3:00 pm I put a new home listing on the San Diego market. By Sunday, we had multiple offers and were over asking price. Out of the offers, two were particularly strong and the sellers accepted one of them. Before letting the other agents know, I confirmed with the buyers' agent to make sure they wanted the home (yes, they did and even visited the home a second time and "loved" it).

This morning the buyers' agent let me know that the buyers had "changed their mind."

While I understand buyers canceling escrow for different reasons, a change of heart within 12 hours of getting the home makes me believe they put in an offer without really wanting it. With short sales and REOs it seems common for buyers to put many offers out there since they have a slim chance of getting any of them. I have several buyers who have had to put in 15 or so offers over many, many months until getting one, and it's almost anticlimactic when they actually get their offer accepted. I get it. However, this is a traditional sale and the sellers took all offers very seriously, respected the offers' expiration dates, and negotiated in good faith.

It seems that these buyers were not really committed to buying the home. If they weren't, they shouldn't have put an offer in. All this did was create extra work for everyone and an illusion of commitment. The other buyers who made an offer and were truly committed were probably disappointed that their offer wasn't accepted. It's not so easy for another buyer to hear that they can now have the home only because the first choice no longer wants it.

So, to buyers: An offer is serious and can result in a contract to purchase. You shouldn't just throw out offers to see if anything will stick. When you are making an offer you should do this only because you really want the home. Don't make an offer unless you are truly motivated to buy it. If you don't really want it, don't bother making an offer. Move on to something you really want.


Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction. If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Don't Be Caught Running a Red Light in San Diego

Run a red light in San Diego and a camera may catch you. 

State law allows cameras to be set up at different intersections, and if you run a red light you'll get a ticket.  When you run a red light at an intersection with a camera, it takes several pictures of the driver committing the violation. If you're the car's registered owner you'll get a ticket, with a minimum of a $426 fine.

Because drivers who run red lights contribute to accidents, the law was designed to help reduce the number of accidents. According to the City of San Diego, studies show that red light cameras reduce accidents.

How do the intersections where red light cameras are installed get chosen? Intersections are selected by the City of San Diego's Transportation Engineering Division and the San Diego Police Department. They are based on accident history and type, number of violations, traffic volume, speed, and input from area residents.

What if I'm not the driver?  The ticket, along with the pictures, are mailed to the car's registered owner.  If you weren't the driver, you can identify the person who was and may get the ticket dismissed. Otherwise, you will be responsible for the ticket.

Where are the red light cameras located in the City of San Diego?

The City currently has 15 red light camera intersections (but may add more, and remember this doesn't include other areas of the County):

10th Avenue at "A" Street

10th Avenue at “F” Street

Aero Drive at Murphy Canyon Road

Camino Del Rio North at Mission Center Road

Camino De La Reina / Camino Del Rio North at Qualcomm Way

Clairemont Mesa Boulevard at Convoy Street

Cleveland Avenue at Washington Street

Del Mar Heights Road at El Camino Real

Grape Street at North Harbor Drive

Kearny Villa Road at Balboa Avenue

Mira Mesa Boulevard at Scranton Road

Mira Mesa Boulevard at Westview Parkway

Mission Bay Drive at Garnet Avenue

North Torrey Pines Road at Genessee Avenue

Rosecrans Street at Nimitz Boulevard

"Getting caught" running a red light shouldn't be the reason you avoid running a red light.  Driving safely should be the main motivation. And....be careful who you lend your car to. Get more information about the City of San Diego's Red Light Program

Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction.  If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Get a Tax Break for Owning a Piece of San Diego History

When I worked as an attorney for the City of San Diego I advised the Historical Resources Board, which designates specific areas or properties as being "historically significant to San Diego." The benefit to San Diego is that it retains some of the older homes that may otherwise be torn down. The benefit to you, the homeowner? Besides maintaining a piece of San Diego's history, you may qualify for great property tax incentives under the Mills Act. If your property is designated an "Historical Resource," you can get up to a 75% reduction in property taxes if you maintain your property's historical significance.

In order to designate a property as historically significant, per the City of San Diego, an historical study must show that the site meets at least one of the following historical designation criteria:

A. Exemplifies or reflects special elements of the City's, a community's or a neighborhood's historical, archaeological, cultural, social, economic, political, aesthetic, engineering, landscaping or architectural development.
B. Is identified with persons or events significant in local, state or national history.
C. Embodies distinctive characteristics of a style, type, period or method of construction or is a valuable example of the use of indigenous materials or craftsmanship.
D. Is representative of the notable work of a master builder, designer, architect, engineer, landscape architect, interior designer, artist or craftsman.
E. Is listed or has been determined eligible by the National Park Service for listing on the National Register of Historic Places or is listed or has been determined eligible by the California State Office of Historic Preservation for listing on the California Register of Historical Resources.
F. Is a finite group of resources related to one another in a clearly distinguishable way or is a geographically definable area or neighborhood containing improvements which have a special character, historical interest or aesthetic value or which represent one or more architectural periods or styles in the history and development of the City.

In order to request your property to become designated an historical resource, it has to be at least 45 years old, you have to pay fees to apply, and prepare a Historical Resource Research Report. Once submitted, your designation request goes before the Historical Resources Board, which decides whether to designate your property.


Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction. If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Knock Knock! It's Your Neighbor!

I was staging a home that I am selling in San Diego (Scripps Ranch) when I heard a knock on the door. I opened it and a neighbor, sensing that I was a Realtor, asked if the home was being sold. He asked for my business card because he had a friend who wanted to live in the neighborhood and may be interested. About a half hour later I got a call from the neighbor's friend's Realtor asking me about the home and when they could see it.

Many sellers believe that "Just Listed" cards or other marketing to the neighborhood only benefits the Realtor selling the home. Some sellers don't see the benefit of letting neighbors know about their home since they already live there. Contrary to that belief, neighbors are a great source to help sell a home and it's an important part of a marketing plan. The neighbors know the area and frequently have friends who visit and want to live there. Neighbors are always interested in who will move into the neighborhood and are a great resource to help spread the word of a home for sale. Moreover, one of the neighbors may be renting in the area and are now looking to buy.

Although there are many opinions about whether to do open houses or not, I like doing at least one open house when the home is initially on the market. I see open houses as another opportunity for neighbors to visit the home (even if just out of curiousity) just in case they know someone interested in buying it.

Adding neighbors to a marketing plan only strengthens a seller's ability to get their home sold. That curious neighbor may just lead you to the perfect buyer.


Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction. If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

Lower Your Mortgage Debt Quicker Yourself

Lower Your Mortgage Debt Quicker Yourself.  If you have a mortgage your lender has probably offered you enrollment in its biweekly mortgage payment program. If you enroll, you pay set up fees and then make payments every other week. Over time, making payments this way decreases the principal quicker than paying the mortgage amount each month. Instead of making 12 payments per year, you'll make 26 payments. In effect this equals making one extra month's mortgage payment each year, which is how the principal debt is decreased.

Instead of enrolling in a special service and paying fees you can easily do this yourself. Here's how. First, divide your monthly mortgage payment by 12. Add this amount to your regular mortgage payment each month, and at the end of the year you will have made the equivalent of one extra month's payment. For example, if your mortgage payment is $1200 each month, divide it by 12, which equals $100. Instead of paying $1200, pay $1300 each month.

Make sure that the terms of your loan allow you to make extra principal payments each month. Also, designate the extra payment as "principal" so that it goes toward decreasing the total amount owed.

 

Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction. If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

What's in YOUR San Diego Neighborhood?

With more people becoming more energy efficient, health conscious, and fiscally conservative, being able to walk to stores, coffee shops and entertainment has become a priority in buying a home.  One tool to help you decide whether a home has "walkability" is WalkScore.  The website reports the walkability of a home's particular neighborhood, on a scale of 1-100.  It factors in roads, accessibility, schools, restaurants, entertainment, parks, and more.
It provides interesting and helpful information and is easy to use. It is a great tool when buying a home or if marketing your home for sale. However, like any tool that gives automatic data, the number itself doesn't always tell the whole story.  For example, if a nearby school isn't important to you but its existence boosts the walk score, the score may not truly reflect your needs in a walkable neighborhood.  So, rather than simply relying on the walk score alone, look at the amenities that make up the walk score.
My website's San Diego home search tool includes the ability to search based on walk score so you can narrow down areas.
Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction.  If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

A Good Agent Will.....

Recently I was interviewed by an MSN.com writer who was doing a story about good vs. bad agents.  The story can be found here.

Credit Score Myths

Your credit score controls so many aspects of your ability to get credit, whether to buy a home, a car, or to get credit from another source.  It's hard to figure out what things will help increase your credit score.  Linda Ferrari, an expert on credit scores, compiled a list of credit score myths worth taking a look at.  When I was trying to get my credit score up, I made several mistakes.  Pay attention to what credit you get and what you do with the credit you get.

You MUST Recycle or Get Fined

You MUST recycle or get fined.  As of January 1, the City of San Diego requires all residences (and some businesses) to recycle. Actually since 2008 all people in single family homes with direct trash pick-up have been required to recycle, but now even multi-family homes (apartments, condos and town homes) with community trash bins have the same requirement. Of course if you live in a development where there are community trash and recycling areas you can't really be responsible for the whole community. The property managers and HOA are ultimately responsible to make recycling bins available and to encourage and educate people living in the community.  

Recycling money bagThe City of San Diego, like other cities, requires recycling because of state and federal requirements. Although the fines for not recycling could range up to $1000 no one has been fined yet.  Because of the City's efforts to educate the public, the public has been doing their part to reduce trash. The Miramar Landfill (where trash goes) has had a 25% reduction in trash over a 2 year period. Great work, San Diegans!  

Most people want to recycle to help the environment. Recycling is easier than many think, and even if you're recycling you can probably recycle even more.  Here are some thoughts:  

-Be AWARE.  I used to recycle the obvious items: large boxes or newspaper. A few months ago, for no apparent reason, I started becoming aware of what I was about to throw in the trash, and thought aboutAware Man whether the item could be recycled.  Once I became aware I realized there was so much that could be recycled.  

-Make it EASY for you to recycle. Set up a recycle bin in your home.  You can put a separate bin next to your trash can or have a specific area to put recyclables. That way, when you take the trash out you can take the recycling out at the same time.  

-Don't try to get in the HABIT of recycling immediately.  Habits take time to develop, so take it slowly if you need to.  Pick one item as a goal to recycle.  Let's say a tissue box.  Once the box is empty, just know that you will recycle it.  Once you get used to that, try the cereal box.  Or junk mail (you can take off identifying info).  After awhile, recycling those items will become habit and you can start adding more.  

-If you mess up, DON'T GIVE UP.  Maybe this week you were in a hurry and threw the tissue box into the trash instead of recycling. That's ok-don't let it stop you from recycling it the next time.  

trash canWith repetition and awareness, you'll soon have more recycling material than trash, and it will be easy for you to help do your part.  

 

See the Recycling News Release
City Recycling Info
Recycling Brochure
Recycling Tips
What Can and Can't Be Recycled 
Recycling, Greenery, Trash Pickup Schedule  


Deborah Engel, Prudential California Realty, is a recognized San Diego and Carmel Valley Realtor for top client satisfaction.  If you'd like to learn more about Deborah, visit her website, www.PropertyByDeb.com, email her, Deb@PropertyByDeb.com, or call her at 858-829-1989.

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