An informational source for people who are relocating, with a particular focus on moving to the Carlsbad area of North County San Diego, with advice, guidance and true stories to help you on your way and make it a great journey, from a REALTOR� with plenty of personal (4 major moves, most recently from Boston to Carlsbad, California) and professional relocation experience. Are you running into problems selling your home? Need to find a new one quickly? Never moved before and haven't a clue? You'll find some great tips on how to solve your relocation issues here. Or ask me a question any time and I'll share some solutions or tell you where to get more information.
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Does Your Relocation Package Include an Equity Loan
If you have a relocation package and are working with a relocation company, an EQUITY LOAN may be part of the offering.
The relocation company may be willing to loan you a certain percentage of your equity once you have a signed offer on your current home, which could be useful in terms of managing the finances of the purchase of a new home, at least if this is happening simultaneously. Trying to buy a new home while you are selling your old one may, financially, be a challenge, and you will need to work closely with your lender to understand what you are approved for if your old home has not yet closed. You may or may not be able to make an offer on a new home until your old one has closed.
Some folks can afford to carry two mortgages, but many can't. An equity loan, if it is part of the relocation package from the relo company , may help you navigate this transition.
Make sure you understand what your new employer, and your relocation company, are offering to help you through the transition so you understand your options.
You are trying to sell your home, buy a new one in your new town many miles away, perhaps finishing an old job or starting a new one, preparing to move, getting financing in order, dealing with kids and chores, and so on.
Do you feel like you are dodging bullets all the time? Waiting to see what next is going to get thrown at you? I think it's an apt description of what relocating buyers and sellers are coping with.
If you aren't feeling this way, consider yourself extremely lucky. Managing all the details of a relocation, especially when jobs and kids are involved and you are moving a distance, with limited time, IS like dodging bullets.
It's normal, so accept it. It's a huge challenge, but this too will pass. Keeping organized, dealing with the issues as you can, and not letting yourself get bent out of shape will help you through. Use your agent to help whenever possible, even if you need some spiritual counseling! And enlist the help of other experts that can help you get the information you need, look at the options you have, and make the right decisions in a timely manner.
The key is staying focused on the end goal - your new home!
If you are getting a relocation package from your new employer there will likely be a number of services provided to you, including relocation assistance, temporary living expenses, and if you own a home, possibly a buyout.
A buyout may be structured in a number of ways depending on the company, it's relocation practices, and the level of your position.
In general, this means you will be given an opportunity to sell your home using an agent (and the relocation company may choose who that person is for you) for a period of time, but if the home does not sell (say within 90 days), the relocation company will buy it. They will typically conduct an appraisal to determine market value, and then the buyout will be a percentage of the market value (maybe 100% if you are an executive, but likely less). Specific terms and conditions will vary from situation to situation.
It is essential to understand the specific terms and conditions of a buyout so you are prepared to move ahead knowing what your options are, and how much money the buyout is worth to you. This can potentially impact your taxes for the following year, the amount of equity you have for a new home, and so on.
If the market is slow a buyout could be a good thing since you may not be able to sell otherwise, but you may also be sacrificing some money, especially if you have not lived in your home for very long.
Carlsbad Homes - Short Sale Questions and Answers (Part 4)
Another commonly asked question about short sales (and it's a relevant question for any buyer trying to purchase a home) is the following:
I OWN ANOTHER HOME I NEED TO SELL - CAN I MAKE AN OFFER ON A SHORT SALE?
The short answer (sorry about the pun) is YES. Certainly you can make an offer any time you want.
But the more important question is whether this is a prudent thing to do.
Many sellers in this slower market with lots of inventory will accept an offer contingent on the buyer selling their current home. Not all, but some. Certainly more than in a seller's market. And there will likely be a 48-hour or 72-hour first right of refusal clause in case another buyer comes along with an offer, and you will have that time frame to remove your contingency or withdraw your offer.
A short sale is different, since you are dealing with the bank. The bank wants the best offer, and the cleanest one, i.e., with a minimum of contingencies., so they can sell the property, minimize their financial loss, and get the property off their books Thus, if you are trying to acquire a short sale and really want o be effective in doing so, chances are a contingency offer will NOT be viewed as a competitive one. Remember, the banks know what is going on in the market, too. My feeling is that it is a waste of time.
But if the short sale is languishing on the market and there are no offer, you might give it a try. Just don't be surprised if the bank does not accept it, and they might not even respond. Talk with your agent, and really think seriously about what you are trying to accomplish.
Carlsbad Homes - Short Sale Questions and Answers (Part 3)
Here's another common question about buying a short sale (and again, it applies, to some extent, to the typical sale).
WHO PAYS THE COMMISSIONS?
In a short sale, as in the typical sale, the commission is paid out of the proceeds due the seller in accordance with the listing agreement the seller has with the brokerage.
In a short sale, because there is a financial hardship and the amount of money that is being paid for the home is less than the amount owed, the lender, who must approve the short sale, will generally make a final determination of the amount of the commissions paid to the agents involved out of the final proceeds. These amount MAY vary from the original agreement.
If you have a signed buyer agency agreement with your agent, be sure to check on the terms and conditions regarding commissions to see if you will be liable for any portion (e.g., if, for example, the amount being offered as commission to the buy side is less than your agreement on commission with your buyer agent as stipulated in the contract).
Carlsbad Homes - Short Sale Questions and Answers (Part 2)
Here is another common question - it's also relevant for a "normal" sale.
WHO PAYS THE HOA FEES, IF ANY?
The Home Owner Association (HOA) fee is paid by the seller.
Generally this fee will be paid in advance for the month of the closing and therefore will be pro-rated (some HOA fees are paid quarterly). The buyer is responsible for the portion from the closing until the end of the month and will reimburse the seller. If the HOA fee has not been paid, the seller will pay the portion owed up to closing and the buyer pays the balance. Usually there will be a document to certify that the HOA fees are paid in full. As a buyer this is something you will want to verify as part of the transaction since you do not want to be liable for the fees prior to the time you take ownership.
You will want to know if there are any special assessments or fees that are being levied by the HOA or will be in the future. This information should be obtained from the HOA and should be disclosed by the seller, but it is always wise to check. You can ask for the minutes of HOA meetings and the budget so you can determine if these are issues.
Carlsbad Homes - Short Sale Questions and Answers (Part 1)
As in many areas of the country, there are a good number of short sale properties in certain communities here in San Diego County, Carlsbad included. I've received a number of inquiries from buyers who are interested in Carlsbad homes, and elsewhere, that are short sales. Since I get some of the same questions over and over, I wanted to share some common issues and answers in a series of posts.
WHO IS RESPONSIBLE FOR TAXES AND PENALTIES?
As in a typical sale, these issues must be satisfied in order for the sale to proceed, and the seller will normally be required to make these tax payments and any penalties due. The taxes will be pro-rated as of the date of closing - if the seller has paid for the tax period beyond the closing date some pro-rated funds will go to the buyers; if the taxes are to be paid, the seller will be responsible for the pro-rated amount due up to the date of closing.
Since a short sale involves a financial hardship, and the lender must approve the sale, any financial obligations of the seller will be factored into the approval process.
NOTE:
Please keep in mind that I am not an attorney so I cannot offer legal advice. Any legal matters should be discussed with a real estate attorney
There are also financial implications of short sales, especially for sellers, and a qualified accountant should be consulted to understand the liabilities
Lastly, while this information is intended for general reading I am now familiar with the laws affecting short sales in states other than California, and those of you working with an agent in your purchase (or sale) should consult them for your specific questions and personal situation.
The majority of buyers and sellers (like you, since you are reading this) are seeking information on buying and selling homes on the Internet. And if you are not, you SHOULD.
There is a wealth of information available to you on the process of selling your home, and acquiring a new one, or your first. That does not, however, replace the information that you can get from a knowledgeable agent.
But how do you find out about agents?
And what sorts of things do YOU want to know before making that critical decision to hire someone to help you, either to sell or to buy, or both.?
Agent websites are a good way to get to know about agents. But blogs are even better. Here's why.
You probably want to know about your prospective agent's experience in your area
And their knowledge about the market, the and selling process, and matters that can impact YOU and YOUR transaction
Do they know what they are doing, and do they convey a sense of that in their communication
And do they demonstrate that they are focused on their clients, or more so on their own interests. REMEMBER, as the client YOUR interests are paramount, and as agent we are obligated to look out for YOUR interests.
Perhaps you also want to know their statistics
I suspect, however, that you also are interested in the agent on a more personal level. What is their style and personality? Are they ethical? Do they make you feel comfortable? Are they someone you would like to work with? And so on.
Blogs are a great way to get to know all of these things about an agent. You will find that you may feel comfortable with a certain person and how they work, their passion for the industry, their service attitude, their style, and so much more.
So in addition to learning about buying and selling, use the Internet, and blogs to find out what you would like to know about an agent before you hire them. You will probably find that if you like them on-line, you will also like them in person. That's the beauty of on-line transparency.
In this age of technology there are a number of options for communication between sellers and their agents, OR between buyers and their buyer agents.
Obviously face to face meetings are effective and more personal, especially when first starting out. But they are not always convenient and perhaps are more time consuming. Some things NEED to be done face to face.
The telephone (or cell phone), of course, is widely used, and for people on the go the cell is often the best way to communicate with others.
More and more folks, especially the younger generations, are doing more with text messages. They can be a challenge, and because they are usually pretty cryptic, may not be suitable for some messages that need to be relayed.
A large number of buyers and sellers, and agent, use email as a primary means of sharing information, asking questions, and so on.
So do YOU have a preferred method for having your agent contact you and share information?
I would encourage you to have a discussion about this, since communication during your transaction is critical, and often must be done in a timely manner. And you should realize that several forms of communicating might be necessary, depending on the nature of the information, timing, and other factors. You may, for example, prefer phone calls, but sometimes send information via email is best in order to provide a written record.
If your agent, or prospective agent, does not bring this up, I would encourage YOU to initiate a discussion. One of the biggest gripes that sellers have is lack of communication with their agents. Don't start off on the wrong foot.
And if your agent is NOT communicating with you, call them on it. It's simply too important.
Olivenhain Homes - Equestrian Properties in Coastal North San Diego
If you are conducting a home search in the coastal area of North San Diego County, and in particular are interested in a more rural area (or if you want an equestrian property), consider OLIVENHAIN.
(No, it does not look just like this picture, but there ARE plenty of horses AND palm trees).
Olivenhain is a community in the town of Encinitas offering a bucolic (no pun intended on "colic" for you horse lovers - I was one, too!), rural atmosphere where many homes are on large lots and horsey folks are in abundance.
Despite what the media seems to implies, there ARE buyers out there looking to buy a new home.
Yes, they are taking a look at lots of properties before making a decision. And as we head into the holidays we can expect that sales may slow as folks focus on other things, like shopping and getting ready for the season's festivities.
BUT, there are plenty of people out there who NEED to buy. They are relocating, or really need more space, or there are other issues that are driving them to purchase.
So, sellers, is YOUR HOME a moving target? Are these buyers who need to buy considering YOUR HOME as a place to move to? Or are they being driven away to another property that is a better deal?
I hate to harp on this, but as the inventory continues to be fairly high, buyers remain fussy about what they will purchase, even if they need to. I have seen it happen many times, and Ihave buyers right now who are voicing their concerns about properties they see.
They don't feel the home is well priced compared to others in the area
The home does not show well and they can't see beyond the clutter, or the minor improvements they would need to make
They are finding lots of minor reasons NOT to buy, rather than looking at the reasons TO BUY
The reality is that buyers are much more in control now, whether you like it or not. And with continued concerns about the economy and the mortgage industry, many are still feeling prices may drop. And they are certainly NOT interested in those properties that they do not feel are worth the asking price.
Take a good, hard, objective look at your home and the pricing. And why not visit your competition, too...just to see how you compare. And listen to what your agent has to say about the market, so YOUR home becomes a moving target.
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If you have a relocation package and are working with a relocation company, an EQUITY LOAN may be part of the offering. 
If you are getting a relocation package from your new employer there will likely be a number of services provided to you, including relocation assistance, temporary living expenses, and if you own a home, possibly a buyout. 
Another commonly asked question about short sales (and it's a relevant question for any buyer trying to purchase a home) is the following: 
The majority of buyers and sellers (like you, since you are reading this) are seeking information on buying and selling homes on the Internet. And if you are not, you SHOULD. .jpg)
n this age of technology there are a number of options for communication between sellers and their agents, OR between buyers and their buyer agents. .jpg)
If you are conducting a home search in the coastal area of North San Diego County, and in particular are interested in a more rural area (or if you want an equestrian property), consider OLIVENHAIN. 
Despite what the media seems to implies, there ARE buyers out there looking to buy a new home.