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January 26th, 2010
Nationwide Home Prices Rise for Sixth Straight Month
Home prices rose for the sixth straight month in November, with 14 of 20 metro areas posting improvements from the month before.
The Standard & Poor’s/Case-Shiller home price index released Tuesday inched up 0.2 percent to a seasonally adjusted reading of 145.49. The index was off 5.3 percent from November last year, nearly matching analyst’s estimates that it would fall by 5.1 percent.
September 9th, 2009
Three Important Tips For Buying Carlsbad Real Estate In Today’s Market
1. Clean Up Your Credit Before You Start Looking
Carlsbad home loans and interest rates are all dependent on your credit score. The higher your score, the more programs that are available to you. In today’s market, a score of over 700 is advisable for the best home loans
2. Don’t buy Carlsbad real estate unless you can afford to stay put.
Although property values have been on the upswing in La Costa and Carlsbad, there are still concerns about a coming wave of foreclosures. We may have seen Carlsbad property values at their bottom, but that is still unknown. Don’t buy Carlsbad real estate hoping to flip it quickly at a profit. Now isn’t the time to take that kind of risk! Read the rest of this entry »
August 25th, 2009
Time Running Out For First Time Buyer Credit!!!!
Carlsbad, CA – If you are a Carlsbad, La Costa, Oceanside, or San Marcos buyer who was hoping to take advantage of the first time home buyer’s tax credit – YOU BETTER HURRY! We are finding a number of things in the current market place:
1. The tax credit expires on December 1st, 2009. That means all real estate purchases have to be CLOSED before then. You can not still be in escrow. Read the rest of this entry »
August 22nd, 2009
Are You Considering Downsizing?
Carlsbad, Ca – According to the US Census Bureau, for the first time since 1994 – the average home size dropped. Home size actually went down by almost 7%.
There are many possible reasons for smaller homes:
1. Aging boomers: As people are living longer, more Carlsbad couples are selling the big houses in favor of a smaller, single story home with less yard (and maintenance). We are finding that La Costa and Carlsbad single story homes are often on the market for a fraction of the time as a similar square footage two-story. The demand for these homes are increasing dramatically! Also as baby boomers are becoming empty nesters, many are choosing to trade in their big home for an RV or more vacations.
2. Affordability – We often find that Carlsbad real estate buyers stretch to buy the biggest, best house they can afford. In times of economic distress – layoffs, declining property values, decreasing wages, people just can’t afford the big house any more. Factor in increases in San Diego energy and water costs, more homeowners are realizing that maybe they need to revisit their monthly housing expenses.
3. Tight credit markets – Any loan above $417k is still a jumbo loan. Even though homes within the expanded limits are often called high balance conforming loans – these and other jumbo mortgages are harder (and more expensive) to get. As Carlsbad interest rates rise, home buyers will be able to afford less and less.
If you have any questions Carlsbad, Oceanside, Encinitas, and other north county coastal San Diego real estate or mortgage topics, please contact us. We are always happy to answer your questions.
August 10th, 2009
Carlsbad Real Estate Buyers – Don’t Wait on Falling Prices
Carlsbad, CA – A fear of overpaying for Carlsbad, Oceanside, or San Elijo real estate is common these days, especially when prices continue to be unstable.
If you are a San Diego home buyer and are frozen because you are unsure what to do next – and are concerned you may pay too much, here are some items to consider: Read the rest of this entry »
August 5th, 2009
La Costa Real Estate For Sale – First Time Buyer Credit To End SOON
La Costa, Carlsbad, CA – The $8,000 first-time buyer tax credit program ends in at the end of the year. The rules state that purchase needs to be completed and the house CLOSED by NOVEMBER 30th in order to receive the tax credit.
What is the first time buyer tax credit?
It is a tax refund for 10% the purchase price of a primary residence (up to $8K). If you do not use the entire $8,000 on your 2009 tax return , the remainder will be refunded directly to you.
Who is eligible to receive the credit?
First-time home buyers and those who have not owned a principal residence in the last three years prior to purchase.
Are there income limits?
Yes. The full amount is given to:
Individuals with adjusted gross income less than $75k
Married filing jointly with adjusted gross income less than $150K per year
There is a phase out between:
$75K and $95K for individuals
$150K and $170K for joint filers.
Because a normal real estate transaction takes between 40 and 60 days to close, TIME IS RUNNING OUT! A short sale may already be too late. If you want to discuss this further, contact us today.
July 23rd, 2009
Jumbo Mortgages are Getting Easier
Over the past few weeks, it seems that it is getting easier to get jumbo mortgages in Carlsbad, CA.
Although Carlsbad jumbo interest rates still aren’t as low as a traditional conventional loan below $417,000, some of the big lenders, such as Bank of America, Wells Fargo, and JPMorgan Chase are cutting rates. Read the rest of this entry »
Mike & Amy Mewborn Real Estate Specialists
Mike: 858.205.2000
Amy:760.213.6653
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