Mewborn Team Real Estate Consultants: CoastalLuxurySanDiego.com

June 18th, 2009

The Worst Year of Your Life?

Categories: Buyers, Market Trends, Real Estate FAQ, Sellers

As a San Deigo real estate agent, there is just no way to really prepare a client for something that can be the longest, most frustrating process they have ever experienced!

First let me tell you what a short sale is.  To put it most simply – a short sale is a lender allowing a property to be sold for less than is owed on it (due to a lower property value).  The home owner has normally missed a payment or two, and negotiates with the bank to sell the home for less than is owed to avoid a full foreclosure.

For a seller, this is a long arduous process because they must fill out paperwork similar to that of the home loan to prove to the bank that they just can’t keep up on the payments any more.  They then have to go through all the normal steps of the sale – EXCEPT that the bank adds in a few extra steps.

For a buyer, you would think that the bank would just want to sell the property, and they would move quickly to do it.  The most recent short sale we are working on – the offer was submitted about six months ago.  We have the highest offer (almost full asking price) and are STILL waiting on the bank to sign off that the offer is accepted.

Most short sales, you submit the offer, you sit, you wait, and you MAY one day get a call back.  Some as late as A YEAR later!!!!

1) Client submits short sale package

2) File is assigned to a lender representative

3) Lender requests an internal appraisal

4) Lender receives appraisal and approves the offer

5) Short sale package is signed off by “the powers that be”

6) If there is Private Mortgage Insurance, file goes to insurance company to approve

7) If there is a second loan on the property, file goes to the second to approve

During this time, this is happening behind the scenes, often with no communication to the client. In our opinion, a good agent will follow up on status on a weekly basis. But there are often no answers forthcoming from the lender representatives. And in the past year, the offer you submitted in March may not be what the property is worth in November, and you may have to start the whole process again.

So, even though that short sale looks like a great price. We caution you to stop and ask yourself if you have the time and patience that might be required to get that property. Look into a foreclosure. Look into another nearby property that is priced to compete with that short sale. You will save yourself MANY sleepless nights!

If you have any Carlsbad or San Diego real estate questions, please  contact us at any time.

Tags: Carlsbad real estate, San Diego Real Estate

Posted by Mike and Amy Mewborn// Please leave a comment.

June 18th, 2009

Oceanside Market Statistics – Oceanside, CA

Categories: Buyers, Market Trends, Oceanside, Sellers

If you are looking for a home in Oceanside, CA – it may be a great time to buy Oceanside real estate .  The average sale price for real estate for sale in Oceanside in the month of May was $259,093 (for 1,453 square feet).  This was up from $258,607 (for 1,528 square feet) the month prior.  This means that the actual price per square foot of the Oceanside real estate – sold properties increased from $169 to $178. 

April 2009 – Oceanside Real Estate – Oceanside Homes For Sale – Oceanside Statistics

92054, 92055, 92056, 92057, 92058

For May….

May 2009 – Oceanside Real Estate – Oceanside Homes For Sale – Oceanside Statistics

92054, 92055, 92056, 92057, 92058

Tags: Oceanside homes, Oceanside Market Statistics, Oceanside Real Estate, Oceanside Real Estate For Sale

Posted by Mike and Amy Mewborn// Please leave a comment.

June 16th, 2009

Oceanside Luxury Homes From $500k

Categories: Buyers, New Construction, Oceanside

I visited a beautiful new home community in Oceanside today, very
near the gate to Camp Pendleton. Bellingham at Arrowood is a wonderful little neighborhood of Oceanside homes with golf course views and about four miles from the Pacific Ocean.

Homes start at 2900 sf and go as high as almost 3400 sf. With builder incentives, the homes are selling for as low as almost $500k.

If you would like to see these Oceanside homes, any Carlsbad homes, or have any other real estate questions, please contact us.

Tags: Carlsbad homes, La Costa Homes, Oceanside homes, Oceanside Homes For Sale, Oceanside New Construction, Oceanside Real Estate, Oceanside Real Estate For Sale

Posted by Mike and Amy Mewborn// Please leave a comment.

June 15th, 2009

May 2009 – Del Mar Real Estate – Del Mar Homes For Sale – Del Mar Market Statistics – 92014

Categories: Buyers, Del Mar, Market Trends, Sellers

These April and May Del Mar real estate statistics track the month over month Del Mar real estate – sales price vs. listing price, the price per square foot, and the days on the market.  The things that really should catch a Del Mar home buyer’s attention is the selling price vs. listing price on Del Mar properties under $400,000.  In both months, these Del Mar homes were in escrow in less than 10 days - one Del Mar home had an accepted offer on its first day on the market!  Also, you will see that these homes sold for MORE than the original asking price.  This Del Mar home fact reinforces what we have been telling clients – well priced homes are selling – FAST, and if we find one of these great real estate values, we have to be ready to move quickly.

April 2009 – Del Mar Real Estate – Del Mar Homes For Sale 
Del Mar Market Statistics – 92014

For May Del Mar Market Statistics

May 2009 – Del Mar Real Estate – Del Mar Homes For Sale
Del Mar Market Statistics – 92014

If you have any questions on Del Mar, or any other local, real estate, please contact us.  We look forward to assisting you in your real estate sale or purchase.

Tags: Del Mar, Del Mar Homes, Del Mar Real Estate, Market Statistics

Posted by Mike and Amy Mewborn// Please leave a comment.

June 11th, 2009

Carlsbad, CA – Mortgage Rates Highest in 7 Months

Categories: Buyers, Home Loans, Interest Rates, Market Trends

Throughout Carlsbad and San Diego, California, rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said today.

According to Freddie Mac, the average rate on the average Carlsbad or San Diego conventional 30 year fixed rate was 5.29% last week, and is up  to 5.59% this week.  The last time the Carlsbad average 30-year fixed rate mortgage was higher was Nov. 26, 2008, at an average of 5.97%.

On Wednesday, the government was forced to lift the yield on 10-year Treasury notes to 3.99 percent to lure in buyers at an auction. That was the highest yield it’s offered since last August, before it started bailing out the nation’s financial industry.

Although, the indicators show that the troubled U.S. housing market is beginning to stabilize, higher rates mean borrowers can borrow less money and/or may not be able to buy – ultimately threatening any Carlsbad housing recovery.

Tags: Carlsbad Interest Rates, Carlsbad Mortgage Rates, Carlsbad Mortgages, La Costa Interest Rates, La Costa Mortgages

Posted by Mike and Amy Mewborn// Please leave a comment.

June 3rd, 2009

Luxury Homes at Unbelievably Low Prices

Categories: Buyers, New Construction, San Elijo, San Marcos

Mahogany New Construction

If you are looking for a large, luxury home with more amenities than you can imagine at prices that you wouldn’t believe, look no further than Mahogany in San Marcos. Mahogany is right off San Elijo Road, really at the entrance to San Elijo. It is also less than 1/4 mile from the very desirable homes of La Costa Oaks.

The homes range from almost 3100 square feet to almost 3900 square feet – with prices starting AS LOW AS $618,900!  That is UNHEARD of for new homes in the La Costa, Carlsbad, and San Marcos areas!

These homes come with air conditioning (often not standard in San Diego homes) maple cabinet, stainless appliances, family room fireplace, granite countertops, and front yard landscaping. If you are looking for an AMAZING Carlsbad or La Costa home, consider Mahogany. It has a San Marcos address, but you can’t beat the value!

Tags: Carlsbad, La Costa, La Costa Homes, La Costa Oaks, San Diego homes, San Elijo homes, San Marcos Homes

Posted by Mike and Amy Mewborn// Please leave a comment.

June 3rd, 2009

Over $32k of Incentives Available – Copperwood La Costa Oaks

Categories: Buyers, La Costa Oaks, Uncategorized

We mentioned a week ago that we had gone to visit Copperwood at La Costa Oaks, the new community in La Costa Oaks by Colrich.  If you live in La Costa or Carlsbad and haven’t gone by, you really should.  The floor plans are unique and the decorating is inspired.

Some Basic Information about Copperwood at La Costa Oaks:

There are 53 homes planned for the La Costa community.
The Copperwood Community’s property taxes will be about 1.3%.
The La Costa Oaks North Community will have its own pool and bbq areas – called The Splash.  They will also have access to the pool and The Oaks Club in La Costa Oaks South.
The HOA dues are expected to start at about $242/mo, decreasing to about $223/mo at the completion of Copperwood and Rockledge (a coming La Costa Oaks community). 

The children will attend schools in the Encinitas Union and San Dieguito Union High School Districts.  The schools for Copperwood at La Costa Oaks are currently La Costa Heights Elementary School, Oak Crest Middle School, and La Costa Canyon High School.

There are $10,000 of incentives offered if you use the preferred lender.  If you choose to use our services, the Mewborn Team is also offering a $4,000 incentive toward closing costs.  You ALSO have up to possibly $18,000 of tax credits available – ask us how.   The financial incentives are HUGE!

If you have any questions about La Costa, Carlsbad, or any other San Diego communities, please contact us below.  We are always happy to answer questions.

Tags: La Costa Buyers, La Costa Communities, La Costa Homes, La Costa New Construction, La Costa Oaks

Posted by Mike and Amy Mewborn// Please leave a comment.