San Diego Real Estate Blog

San Diego Real Estate Blog

Home prices in most areas of South San Diego have come up in value since last summer. Homes in most zip codes rose in 2010 and in the zip codes where it dropped it only dropped a little. This is a good sign for the real estate market in southern San Diego and the overall San Diego home prices have on average gone up since last year at the same time. As usual the short sales have extremely long market times and can prove to be very trying for even the most seasoned of short sale experts.

The bank owned foreclosures and REO properties are still moving the fastest and seem to get many offers from investors edging out the first time home buyers and families who want to buy a home to live in. Some areas in South County have renewed their new home building programs and new home builders are throwing up the sticks again. Otay Ranch still has thousands of homes that are slated to be built sometime in the future. I’m sure the when depends on how soon the real estate market improves and shows steady growth. Many new home builders lost their properties and unfinished homes to the banks and they don’t want to make that mistake again. The bubble has long since broken and many homeowners are in the middle of a short sale or wish they were. Some home owners are in the middle of a foreclosure and looking for a rental to get out and start over. There’s always a next time.

The biggest house value gains were in National City while the most amount of loss was in Imperial Beach. Chula Vista areas like 91910, 91911 and 91914 had slight gains while zips 91913 and 91915 had slight declines in home values. With the economy not improving and the state of California in dire straits the real estate market can’t truly solidify and grow until the economy does and what we need to see that happen are jobs.

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Lower Otay Lake - Chula Vista California - August 2010

Who would believe that there was a World War II Bomber at the bottom of Lower Otay Lake in Eastern Chula Vista? I’ve fished this lake many times and hiked the hills around it for many years and never once imagined there was an airplane at the bottom of it let alone a rare Navy SB2C Helldiver. I can remember coming out to the Upper and Lower Otay Lakes back in the late 1980’s and all through the early 1990’s long before the real estate boom when homes sprung up around the lakes edges. I can remember cattle covering the fields and grazing on early misty mornings and lazy afternoons. It was more like a western scene from 100 years ago, long before there was an EastLake. When I first heard about the World War II Bomber in the Lower Otay Lake I immediately wondered how it got there and why it was being pulled out.

I had just finished up a round of golf at the EastLake Greens Golf Course on Saturday when my friend John brought up the airplane in the lake. I said let’s go see if it’s still there. We took a drive from the golf course through EastLake Greens on Hunte Parkway and a right down Otay Lakes Road. We turned right onto Wueste Road and through EastLake Vistas down to the Lower Otay Lake. We knew right away that it was still there from the amount of cars parked along-side the road and the carnival like excitement on the people’s faces walking to and from the closed parking lot. We saw the erect white arm of the giant crane used to pull the Helldiver from its wet and muddy grave. As we parked and walked closer we saw the grey plane sitting on the rocky shoreline of the lake next to the fishing dock. Needless to say it looked pretty cool. My friend and I are both former Marines and this made out for an exciting encounter with a piece of military history. Kind of like meeting a war hero the likes of Chesty Puller or Dan Daly, although they are long dead this military hero was brought to life from its long dark and muddy sleep. This war plane had never seen combat but if its fait were of different circumstance I know it would have.

For the full story, much better than I could tell it please visit the Naval Aviation Museum Web Site for all the information on the Helldiver history and what’s going to happen to it.

http://www.navalaviationmuseum.org/getdoc/9fd86cd2-40a3-4d11-a768-2f5205355b96/Helldiver-Rising.aspx

 Mike Lewis

Dawn Lewis - Realtor San Diego CA

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IB Pet in Imperial Beach San Diego is the only place I go to for pet supplies including dog and cat food, dog and cat toys, dog beds and everything else for all of my pet needs. I recommend IB Pet because I’m a big fan of customer service and that’s what I get at IB Pet. They’re located right off of Palm Avenue in Imperial Beach and easy to get to from anywhere in South Bay San Diego including Chula Vista and Coronado Island. I would even drive to IB Pet if I lived in Escondido or Oceanside. It’s worth it.

Lori and Russell Blauert are the owners of this Imperial Beach Pet Store and I want you to check them out next time you need pet supplies or just some great advice.

This is their goal off of the IB Pet Web Site:

Our goal is to help educate our customers in proper nutrition, care and an overall healthy lifestyle for their pets.  Through our carefully selected canine and feline diets, your companion can enjoy meals like those nature intended. In addition, we carry a full line of innovative pet care products - leashes, collars, toys, beds, grooming supplies and more!

I know Lori and Russ personally and I think you will like what they have to offer. Check out IB Pet. Mike Lewis.

Check out the IB Pet Website

IB Pet, 600 Palm Ave, Imperial Beach, CA 91932
Phone: 619-822-1610 fax: 619-429-4000 email: lori@ibpet.net

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Twitter San Diego Real Estate

Follow Dawn Sells San Diego on Twitter

You can follow Dawn Sells San Diego on Twitter. Our San Diego Real Estate Twitter has all of our blog posts tweeted as well as all information pertaining to the San Diego Real Estate Market, News and Trends. Twitter is a great way for us to stay in touch with home buyers and home sellers in San Diego County.

We also keep you updated on foreclosure and short sale properties that we are selling and up to date information on the latest foreclosure and short sale news. Twitter is an excellent micro-blog for getting San Diego Real Estate Tweets out fast to our followers. If you want to follow the best San Diego Real Estate on Twitter make sure you follow us.

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2010 San Diego Real Estate Market

I know it’s still 2009 November and it might be a little early for 2010 San Diego Real Estate Market predictions but I think I’ll give it a shot. 2010 in the San Diego Real Estate Market should show more foreclosures than we had in 2009. In 2009 many foreclosures were held off of the market due to the moratoriums. Now that many of the foreclosure moratoriums are lifted the banks are gearing up to get the REO’s off of their books. 2010 in San Diego and many parts of the country will be known as the year of the “Last of the Foreclosure Market”. There will be more foreclosures after 2010 into 2011,  2012 and 2013 but 2010 will be the last big year for foreclosures.

There will still be more short sales and some banks are moving faster on them. There’s lots of talk about the short sales being streamlined and moving through the system faster. In 2010 it might just be a lot of false hope in this area. I hope I’m wrong and we see the short sales as a whole (not just select banks) move through the system fast and to a sale but it might just be a lot of hype. Systems like REOTrans are setting up to do short sales but I’ll believe the push towards short sales over foreclosures by the banks when I see it.

For homebuyers in 2010 it should be a delight with more inventory coming into the San Diego Real Estate Market. In some price ranges like the lower end first time home buyer prices under $400,000 there still will be a fight with other buyers to get the homes. There are way too many buyers and investors in the under $400,000 range in many areas of San Diego County that will keep this price range in very short supply in 2010. The upper end in non-coastal areas will still slide a little lower in 2010. We’ll see how this worked out in 2011.

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I read a recent article titled: Realtors® Urge Congress to Act Now to Extend Homebuyer Tax Credit. In the article the National Association of Realtors included some facts about how many first time home buyers were helped into their new homes by the tax credit which will end on November 30, 2009. I know it’s helped here in the San Diego Real Estate Market and many of our clients have taken advantage of the incentive. 

Below is an excerpt from the article: 

The National Association of Realtors® is calling upon its 1.2 million members to urge Congress to extend the successful homebuyer tax credit into next year. 

Since its inception earlier this year, the $8,000 first-time homebuyer tax credit has brought 1.2 million new buyers into the market—350,000 of whom would not have purchased a home without the credit, according to NAR. The credit is due to expire November 30. 

“Now is the time for Congress to keep this recovery going by extending the tax credit through 2010 and making it available to more homebuyers. We have all seen how the credit has been a spur to bring homebuyers into the market, and have seen the beginnings of a real recovery in the housing market. Housing has always led this nation out of economic downturns, and can do so again,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. 

Realtors®, the leading advocates for homeownership and housing issues, will be writing to their Senators and Representatives to tell them of the successes with the tax credit thus far and to press them to extend and expand it now. 

For the entire article please visit Realtor.org 

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The San Diego Real Estate Market has seen better days. It’s not that there aren’t buyers seeking that perfect place to call home sweet home it’s the little inventory they have to choose from. Inventory is low especially in some areas of San Diego County in the first time homebuyer price ranges. So low that many VA and FHA buyers are taking their chances on short sales, which may or may not ever close escrow, and waiting it out.

I can’t tell you how many questions I answer on Trulia about buyers and short sales. Buyers are always asking, what takes so long, how come the banks won’t approve my offer, what’s going on, why did they take another offer, why did the bank foreclose on the home when I had an offer on it for 8 months, why is the seller declaring bankruptcy, and on and on. It’s like writing an offer on a home and putting it into a black hole and hoping something good comes out on the other end. It usually doesn’t.

Keep in mind if you’re a buyer who wrote an offer on a short sale you probably are in competition with 5 to 50 other buyers. Only 1 of those offers will get accepted and many times the home will go to foreclosure and no one gets it. It’s frustrating for everyone involved including all agents, the negotiators at the banks, sellers and all the other buyers trying to buy the home. Just think how the seller feels….. they are losing their home, their dreams, their investment, they and their family – kids, dogs, cats now need to find another place to live, most likely a rental or in with family, and their life is being turned upside down. Kind of puts things in a different perspective when you look at it from the side of the one who is losing the home.

San Diego Home Buyers using a VA or FHA Loan to buy a home or condo are often in third and fourth place when writing offers on foreclosed properties. They have that going for them too. The problem is with so many investors in the market buying foreclosures for cash or large sums of money down in conventional loans the VA and FHA loans aren’t usually the best way to go for an asset manager looking at offers on the REO asset they are managing. On cash offers they don’t have to worry about appraisal issues or finding out a buyer really doesn’t qualify for the loan to buy the foreclosure. It’s an unfortunate situation that people who want to buy the home to live in and be part of the community are being put in the back seat to investors looking to make a buck. But it is what it is and for now it’s bad news for some VA and FHA buyers. Hang in there. Times will change.

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Chula Vista California defeated Chinese Taipei AKA Taiwan today to win the Little League World Series. As a Chula Vista resident since 1998 this is one of the most exciting things to happen in Chula Vista located in South Bay San Diego California. The day before Chula Vista defeated San Antonia Texas 12-2 in only 4 inning of play to advance to the final. The Chula Vista Little League Team had an amazing 9 run first inning which carried them to a seemingly easy victory over the Texans.  Chinese Taipei smashed Mexico 9-4 to advance to the final against the Chula Vista baseball team. The series is being held in South Williamsport, Pennsylvania. All of Chula Vista were watching the games and the excitement in town was unbelievable. 

Chula Vista vs. Chinese Taipei August 30 2009. The game was scoreless until the top of the 3rd inning with a runner on first and number 19 Sung hit a home run for Chinese Taipei. Then the next batter number 18 hits another homerun to give the Chinese a 3 run lead. Chula Vista changes their pitcher to number 19 Garcia after the second home run. He gets the out and retires the side. In the bottom of the third after one out Chula Vista has runners on second and third and Taipei walks Chula Vista’s Luke Ramirez for bases loaded with one out. Bulla Graft number 20 strikes out on a full count with bases loaded. Bradley Roberto number 16 comes to bat and gets to a 3 and 0 count and then a 3 and 2 count and then hits a grounder to the second basemen who commits an error and scoring 1 run for Chula Vista. The next batter strikes out with bases loaded. 

Top of the 4th was a 123 inning and Chula Vista quickly retired the side. In the bottom of the 4th after another Taipei error Chula Vista’s Jenson Peterson reaches first base. Then Nick Conlin hits a smashing double and moves the runner on first to third with no outs. Chinese Taipei changes pitchers. Seth Godfrey hits a sacrifice fly to score Peterson. Still only one out and a runner on second.  The next batter gets a base hit advancing the runner to third. Kiko Garcia comes up to bat and a wild pitch advances the runner on third to score and tie up the game. The runner on first moves to second base. Chinese Taipei brings in a new pitcher. Kiko strikes out for out 2 and Luke Ramirez comes to the plate and is walked for a second time. Runners on first and second and Bulla Graft at the plate and another wild pitch advances the runners. Bulla Graft gets a base hit advancing the runners and scoring one rune for Chula Vista to take the lead 4-3. The next batter strikes out. 

Top of the 5h Chinese Taipei get a runner on first and second both hit by pitches. The pitcher walks the batter and brings up to the plate Chin Ou number 18 with bases loaded. Ou hits into a double play lead by Andy Rios – what a play! Bottom of the 5th Oscar Castor gets a base hit. Daniel Porras Jr. fly’s out. Isaiah Armenta comes to bat and with a wild pitch the runner goes to second. Armenta stikes out. Seth Godfrey comes up to bat and hits a double knocking in a run. Andy Rios knocks in Godfrey with a base hit. Chula Vista up by 3. Kiko Garcia up at the plate and gets a base hit, runners at first and second. Luke Ramirez up at the bag and a loose pitch advances the runners. Luke fly’s out at the wall.

Top of the 6th inning 3 outs to go for Chula Vista to win. One runner reaches first. But thats all. CHULA VISTA WINS 6-3!!!!

The Chula Vista 2009 World Series Little League Team 

Bradley Roberto Andy Rios Markus Melin Nick Conlin Seth Godfrey Bulla Graft Daniel Porras Jr.Jensen Peterson Kiko Garcia Luke Ramirez Isaiah Armenta Oscar Castro Coach Ric Ramirez Manager Oscar Castro 

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