San Diego Real Estate Blog

Foreclosures McCain Obama Clinton

I read an article on CNNMoney.com entitled “Housing: Where the Candidates Stand” dated March 28th 2008. This article was very informative in showing how the presidential candidates stand on the housing crisis in America. I think by the time the election is over and the transition in the White House is complete most of the housing problems and foreclosures will be more than half way through the cycle. At that rate any legislation to stop foreclosures will be much too little too late. I’m not sure how fair it would be to bail out 2 million home owners when 2 million others lost their homes and are now renting with a short sale or foreclosure on their credit.

It might be a mute point where the candidates stand on the housing troubles but here they are and the responses are what is to be expected.

Republican John McCain’s Response to how much the government should help:

“Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy,” McCain said in a speech this week.

He called on lenders to do for borrowers what they are asking the government to do for them.

“They’ve been asking the government to help them out,” McCain said. “I’m now calling upon them to help their customers, and their nation out. It’s time to help American families.”

Democrats Barack Obama’s and Hillary Clinton’s Response on how much the government should help:

Clinton and Obama have also both called for government money to provide housing aid.
Obama wants a $10 billion foreclosure prevention fund to help homeowners who are victims of mortgage fraud to help them sell their homes or modify their loans to help them avoid foreclosure and bankruptcy.

For her part, Clinton says the federal government should provide $30 billion to finance an Emergency Housing Fund to help local governments purchase and resell or rent foreclosed, vacant properties.

Unlike Obama, Clinton says lenders should implement a 90-day moratorium on foreclosures to allow borrowers time to work out modifications with loan servicers and freeze the interest rates on subprime adjustable rate mortgages for at least 5 years.
She has also said that if the FHA proposal to encourage lenders to modify mortgages doesn’t alleviate pressure on the housing market, the government should be ready to do more.

“Given the severity of today’s housing crisis, simply facilitating this auction process might not be enough to get our economy moving again,” Clinton said in a speech earlier this week.

Her recommendation: the FHA or an entity like it should be ready to buy, restructure and resell mortgages in which borrowers now owe more on their homes than they’re worth.
Such a program could be self-financing in the long run if the government buys the loans from lenders at a steep discount, restructures them to affordable levels for the borrowers and sells them back into the secondary market at a higher price.

Overall, the differences in the Democratic candidates’ approach are a matter of degree.
“Clinton’s proposals are more populist and more aggressive - Obama’s don’t go as far and aren’t as detailed,” said Brian Gardner, a political analyst with Keefe, Bruyette and Woods.

If you have any questions for us about San Diego Real Estate please call us anytime or visit our web site below.

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All information is believed to be correct but not guaranteed.

Chula Vista Home Foreclosure

Chula Vista has been hit hard by home foreclosures in the past two years and 2008 and 2009 will probably be more of the same. If you are worried about the bank foreclosing on your home because you’re having trouble making house payments maybe this will help. I found these 10 things to do if you’re unable to make your mortgage payment on the HUD web site and found them worth passing on. Chula Vista has been hit hard with foreclosures and helping homeowners avoid foreclosure in Chula Vista is a personal quest for me. This article is from 2007 but the information is still very pertinent and helpful.

The article is as follows:

The link is here

WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) released its top 10 tips for homeowners who are facing foreclosure.

“These guidelines will assist homeowners who are struggling to pay their mortgage and could be threatened with foreclosure,” said HUD Secretary Alphonso Jackson. “We want to encourage homeowners to take action and use every resource available so that they can get control of their finances and stay in their home.”

If you are unable to make your mortgage payment:

1. Don’t ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at www.fha.gov.

6. Contact a non-profit housing counselor.

The U.S. Department of Housing and Urban Development funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance.

7. Prioritize your spending.

After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other “unsecured” debt until you have paid your mortgage.

8. Use your assets.

Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.

Many for-profit companies will contact you promising to negotiate a loan work out with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month’s mortgage payment) for information and services your lender or a HUD approved housing counselor will provide for free if you contact them. You don’t need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead.

10. Don’t lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a HUD approved housing counselor or trusted real estate professional.

If you have any questions for us please call us anytime or visit our web site below.

San Diego Real Estate        San Diego MLS        San Diego Real Estate Blog    

All information is believed to be correct but not guaranteed.

Avoid Foreclosure San Diego Home Owners

I found these 10 things to do if you’re unable to make your mortgage payment on the HUD web site and found them worth passing on. San Diego has been hit hard with foreclosures and helping homeowners avoid foreclosure in San Diego is a personal quest for me. This article is from 2007 but the information is still very pertinent and helpful.

The article is as follows:

The link is here

WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) released its top 10 tips for homeowners who are facing foreclosure.

“These guidelines will assist homeowners who are struggling to pay their mortgage and could be threatened with foreclosure,” said HUD Secretary Alphonso Jackson. “We want to encourage homeowners to take action and use every resource available so that they can get control of their finances and stay in their home.”

If you are unable to make your mortgage payment:

1. Don’t ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at www.fha.gov.

6. Contact a non-profit housing counselor.

The U.S. Department of Housing and Urban Development funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance.

7. Prioritize your spending.

After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other “unsecured” debt until you have paid your mortgage.

8. Use your assets.

Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.

Many for-profit companies will contact you promising to negotiate a loan work out with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month’s mortgage payment) for information and services your lender or a HUD approved housing counselor will provide for free if you contact them. You don’t need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead.

10. Don’t lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a HUD approved housing counselor or trusted real estate professional.

If you have any questions for us please call us anytime or visit our web site below.

San Diego Real Estate        San Diego MLS        San Diego Real Estate Blog    

All information is believed to be correct but not guaranteed.

Silver Strand Coronado San Diego California

The Silver Strand is a narrow stretch of land between Coronado and Imperial Beach in San Diego. It connects Coronado to the mainland of San Diego and was used before the Coronado Bridge was built which now takes on the majority of traffic to and from Coronado. There is a great beach there called Silver Strand State Beach with miles of white sand and crashing waves. The sand at Silver Strand State Beach has gold flakes in it and sparkles when the wave’s crash and churn up the sand. It’s incredibly beautiful.

We decided with some friends to go to the Silver Strand SB Campsites and spend the weekend. We couldn‘t have picked a nicer weekend. Temperatures were in the 90’s which for April in San Diego is hotter than normal. We went with two other families, close friends, and reserved spots next to each other right on the beach. The fun began as soon as we got there. This is one of the finest campsites in all of California – on the beach in Coronado with miles of mostly quiet San Diego Beaches.

The weekend consisted of relaxing, eating, laughing, swimming, fishing, walks on the beach, sand dollar hunting, sun bathing, naps in the sun, smores, camp fire talks and scary stories, charades, and so much more. It was so much fun we made reservations and are going back in 2 weeks. We went to MooTime in Downtown Coronado and got some great ice cream. We fished and caught Surf Perch and Halibut but no Corbina yet. We went on a sand dollar hunt and found over 300 sand dollars. The beaches for day beach goers were packed and the sail surfers were out in force. There is an $8 fee to day park at the beach. It was a weekend we’ll never forget. We work hard and play hard too. It balances out nicely. Because we are in San Diego we can also take care of emergencies that come up in the real estate world if need be.

If you get a chance visit the Silver Strand State Beach and if you’re a camper with an RV or Trailer make some reservations and stay a while. You’ll love it.

If you’re interested in buying a condo or house in Coronado or anywhere in San Diego visit our web site and give us a call. Our San Diego Real Estate web site has great real estate search tools and great maps.

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More on Silver Strand State Beach

All information is believed to be correct but not guaranteed.

Downtown San Diego Condos 2 Bedroom under 1200 Sq Ft

153 Downtown San Diego 2 bedroom condos for sale under 1200 square feet. April 16, 2008 in the San Diego MLS shows that there are currently 153 condos for sale in Downtown San Diego that are 2 bedrooms and under 1200 square feet. All of the statistics for condos in this post will be within the parameters of 2 bedroom and under 1200 square feet in Downtown San Diego Zip Code 92101.

The most expensive condo is priced at $1,318,000 and is located on Ninth Avenue and the least expensive condo is $89,000 on 7th Avenue in Downtown San Diego. The median condo price for active listings is $559,500 and the average list price is $584,803. The average days on market are 110 days. There are 40 condos in escrow with an average price of $498,635 and average days on market of 69 days. The most expensive Downtown condo in escrow is $1,695,000 and is located on Front Street while the least expensive pending is on Ash Street and is listed at $257,000.

Sold condos in Downtown San Diego that were in the criteria of 2 bedrooms under 1200 square feet were at 37 condos. The 92109 sold condos had a high sold price of $780,000 located on West Harbor Drive and the lowest sold condo was $205,000 and was located on Ash Street.

If you’re interested in buying a condo in Downtown San Diego visit our web site and give us a call. Our San Diego Real Estate web site has great real estate search tools and great maps.

Downtown San Diego Condos

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All information is believed to be correct but not guaranteed.

Downtown San Diego Condos – 1 Bedroom

188 Downtown San Diego Condos – 1 Bedroom. Mid April 2008 shows us that there are 188 1 bedroom condos for sale in Downtown San Diego. Prices vary from as low as $220,000 for a 1 bedroom, 1 bath condo with 648 square feet on India Street to as high as $2,799,000 for a 1 bedroom 2.5 bathroom condo with 2,144 square feet on Front Street. The median Downtown San Diego 1 bedroom condo price is $398,000 for active condos on the market.

For the 188 1 bedroom condos in Downtown San Diego the average list price is $465,911with an average days on market of 102 days. There are 31 1 bedroom condos in escrow with an average list price of $356,235 and average days on market of 69 days. The lowest priced 1 bedroom Downtown San Diego condo in escrow is listed at $169,900 and the highest is $579,000. January 1, 2008 to April 16, 2008 has 39 1 bedroom condos close escrow. The median sold price is $330,000 while the average sold price is $355,445. The least expensive 1 bedroom condo sold at $200,000 and was on Beech Street and the highest priced sold 1 bedroom condo sold at $735,000 and was on Harbor Drive.

If you’re interested in buying a condo in Downtown San Diego visit our web site and give us a call. Our San Diego Real Estate web site has great real estate search tools and great maps.

Downtown San Diego Condos

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All information is believed to be correct but not guaranteed.

Bayshore Carmel Valley Homes in San Diego

Bayshore in Carmel Valley is a lovely North County Coastal San Diego Community. It is #13 on the Carmel Valley Map located on this page. These homes were built in the mid to late 1980’s. Bayshore is located between Granada, Seabridge, Windwood, Montemar, and Del Mar Bluffs. From Bayshore it is an easy walk to many schools and parks as well as food, dining, movies and shopping in the Del Mar Highlands Town Center. These homes have no Mello-Roos or HOA fees. So far in 2008 two Bayshore homes have closed escrow and there are currently no Bayshore homes on the market. The two homes that closed escrow were on Portado Place, one sold at $680,000 and the other sold at $685,000. These Bayshore homes have 3 bedrooms, 2.5 bathrooms, 2 car garages and are 1,568 square feet.

The Average home prices in Bayshore from 2000 to 2007 are:

2000 $403,000
2001 $417,077
2002 $465,350
2003 $559,308
2004 $710,400
2005 $719,400
2006 $734,857
2007 $662,700

       
The number of Bayshore homes sold from 2000 to 2007 is:

2000 6
2001 13
2002 10
2003 13
2004 10
2005 5
2006 7
2007 5

If you’re ready to buy a new home or resale home in Carmel Valley please contact us. We would love to help.

San Diego MLS

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Please visit my web site at http://www.dawnsellssandiego.com/ and find out everything about Carmel Valley Real Estate. Please call me at 619-981-3917 when you need help with Carmel Valley Real Estate, homes or condos.

Dawn Lewis
“Your Personal Real Estate Consultant for Life”
619-981-3917
http://www.dawnsellssandiego.com/ 

San Diego Real Estate    

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All information is believed to be correct but not guaranteed.

Antares Carmel Valley Homes in San Diego

Antares is located in North West Carmel Valley is a lovely North County Coastal San Diego Community. It is #2 on the Carmel Valley Map located on this page. These homes have Mello-Roos and an HOA fee. These homes were built in the late 1990’s. Antares is located between Halcyon, Elysian, and Pell Place. From Antares it is an easy walk to food, dining, movies and shopping in the Del Mar Highlands Town Center. There is currently one home for sale in Antares and it is a short sale listed at $549,000. Only one Antares home has closed escrow in 2008 and that home was on Carmel Country Road and sold for $590,000.

The Average home prices in Antares from 2000 to 2007 are:

2000 $358,821
2001 $434,750
2002 $469,250
2003 $531,636
2004 $674,375
2005 $706,150
2006 $633,591
2007 $604,000

The number of Antares homes sold from 2000 to 2007 is: 

2000 14
2001 14
2002 16
2003 22
2004 12
2005 10
2006 11
2007 5

If you’re ready to buy a new home or resale home in Carmel Valley please contact us. We would love to help.

San Diego MLS

Carmel Valley Homes for Sale

Please visit my web site at http://www.dawnsellssandiego.com/ and find out everything about Carmel Valley Real Estate. Please call me at 619-981-3917 when you need help with Carmel Valley Real Estate, homes or condos.

Dawn Lewis
“Your Personal Real Estate Consultant for Life”
619-981-3917
http://www.dawnsellssandiego.com/ 

San Diego Real Estate    

San Diego MLS       

San Diego Real Estate Blog    

All information is believed to be correct but not guaranteed.

Alta Mar Carmel Valley Homes in San Diego

Alta Mar located in North West Carmel Valley is a lovely North County Coastal San Diego Community. It is #13 on the Carmel Valley Map located on this page. Some of the homes have excellent ocean views and lagoon views and are quite spectacular. This area is in walking distance to Solana Highlands Elementary School and close to Torrey Pines High School. Some homes have Mello-Roos and some have a low Mello-Roos and all have a low HOA fee. These homes were built in the mid to late 1980’s and many of the homes have been remodeled. Homes in this area off San Diego with the views many of them have are sought after and are highly desirable.

The Average home prices in Alta Mar from 2000 to 2007 are:

2000 $517,738
2001 $522,375
2002 $646,563
2003 $689,719
2004 $802,000
2005 $899,600
2006 $906,545
2007 $917,500

    
Out of the 6 homes sold in Alta Mar in 2007 2 were on Candela Place, 2 were on Grandvia Point, 1 was on Pantera Road, and 1 was on Denara Road. The average days on market were 4o days. There are currently no homes on the market in Alta Mar and none in escrow. If you would like to be put on a notification list for Alta Mar homes contact us today.

    
The number of Alta Mar homes sold from 2000 to 2007 is:

2000 21
2001 12
2002 16
2003 16
2004 10
2005 10
2006 11
2007 6  

If you’re ready to buy a new home or resale home in Carmel Valley please contact us. We would love to help.

San Diego MLS

Carmel Valley Homes for Sale

Please visit my web site at http://www.dawnsellssandiego.com/ and find out everything about Carmel Valley Real Estate. Please call me at 619-981-3917 when you need help with Carmel Valley Real Estate, homes or condos.

Dawn Lewis
“Your Personal Real Estate Consultant for Life”
619-981-3917
http://www.dawnsellssandiego.com/ 

San Diego Real Estate    

San Diego MLS       

San Diego Real Estate Blog    

All information is believed to be correct but not guaranteed.

What is Mello-Roos is there Mello-Roos in San Diego

What is Mello-Roos? Is there Mello-Roos in San Diego?

Mello = Henry Mello - Senator for Monterey California

Roos = Mike Roos - Assemblyman for Los Angeles

Mello-Roos also known as “The Mello-Roos Community Facilities Act of 1982 was created by Henry Mello and Mike Roos to make available a method of financing public facilities, infrastructure, and services associated with a new community development. Mello-Roos came about because of the limitations that were put on the ability of local governments in prop 13, to use property taxes to construct public facilities and provide public services. The California Legislature passed the act in 1982 enabling CFD’s or Community Facilities Districts to be formed by local government agencies. This allowed government to get funding in communities for facilities, infrastructure and services. San Diego and Chula Vista have many Mello-Roos Districts and you can easily find out if a community is in one by contacting the San Diego County Tax Assessors office. more at SAN DIEGO REAL ESTATE BLOG

A Mello-Roos District can finance facilities and services.

Authorized Facilities (include but are not limited to)

1. Libraries
2. School sites and buildings
3. Child care facilities
4. Parks, recreation areas, parkways, and open space facilities
5. Natural gas pipeline facilities, telephone, electric, and cable TV facilities
6. Any other governmental facilities to which the legislative body creating the Mellow-Roos District is allowed to contribute revenue, own, construct, or operate.

Authorized Service

1. Fire protection and suppression services
2. Ambulance and paramedic services
3. Police protection services, including the provision of services for detention facilities, juvenile halls, and jails
4. Flood and storm protection services, including the operation and maintenance of storm drainage systems
5. Removal or remedial action for the cleanup of any hazardous substance related or threatened to be released into the environment.

Mello-Roos special taxes are apportioned in any manner that is fair and reasonable, except ad valorem, i.e., based upon the value of the property. The possible bases for the apportionment of the Mello-Roos special taxes include:

1. Unit of Property
2. Consumption of Usage
3. Equivalent Dwelling Unit

Changes can be made to Mello-Roos District even after it is formed. New services or facilities may be added to the district or the maximum special tax may be increased or even decreased. Changes do require procedures almost as involved as the ones in the formation of the Mello-Roos District. These special taxes from the Mello-Roos Community Facilities Act of 1982 are collected twice a year in the same way that property taxes are collected.

If you have any questions about Real Estate in San Diego please contact Dawn Sells San Diego today.

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