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Jul. 3, 2008
Categorized in: House Hunting
Buyers in our area, and others, are now confronting a new issue in their real estate transacation - the APPRAISAL.
Having a home appraisal is NOT new, of course, and most buyers (and sellers) typically anxst over the appraisal until it is completed, since the bank will not issue a loan commitment until the underwriter has the complete file and reviews the appraisal.
Today's market, wtih declining prices in many areas, and the increasing number of short sales, foreclosures, and REOs (bank owned properties) is creating problems in many communities with appraisals which are, increasingly, coming in below the agreed-upon purchase price. Banks are tightening standards (only 3 months allowed for comparables, not 6) and appraisers themselves are being more closely scrutinized.
You may be relocating to a market very different from your current one and may find this to be more of an issue, or possibly less.
Is this a concern?
In many markets it should be. And as a prudent buyer there are things you should know, and do.
Read There's a New Source of Anxiety here.
This is just one more GOOD reason to make sure you are working with an agent in your relocation who really knows the local market and can help avoid some of these issues.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by
phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler
Jun. 12, 2008
Categorized in: Due Diligence
Folks who are buying Carlsbad real estate, or anywhere for that matter, owe it to themselves to do a thorough investigation of the property they wish to buy.
This is not new news, or shouldn’t be.
Most REALTORS strongly encourage buyers to hire a home inspector to investigate the home they are trying to buy and part of the due diligence process. To not do so is foolhardy, in my opinion. We even have a disclosure here that advises buyers that to not conduct such an investigation is going against the recommendations of the agent. But sometimes folks don’t listen.
With the market we are in, this becomes even more critical, given the number of short sales foreclosures, and bank-owned properties (REOs). Since these homes, and sometimes others, are sold AS IS, a prudent real estate buyer will want to know what they are getting themselves into before signing on the dotted line.
.jpg) My experiences with home inspectors have been pretty good, although I know there are some who are not so competent. And let’s face it they are normally not trades people so their inspections may be less thorough than, say, a licensed plumber. Nor should they be expected to be as knowledgeable. Plus there are always those darned disclosures and disclaimers.If they recommend further evaluation, it is probably wise to listen.
The point of all this is to ask whether you, Mr. and/or Ms. Carlsbad Buyer, are really doing as thorough an inspection as you should. Or are there cases where more is needed?
Read the full article here.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by
phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler
May. 28, 2008
Categorized in: Financial Stuff
.jpg) I recently wrote about the importance of considering your overall financial status and goals when making a Carlsbad home purchase. It’s a big decision and there can be huge financial implications, both in the near term and down the road.
Most buyers, unless they qualify for 100% financing or obtain gift money, will allocate a large chunk of cash to the down payment (up to 20% or more of the purchase price; with detached homes starting around $500K in Carlsbad we are talking $100,000!). And the decision of how large a down payment to make on your home purchase is not just about making a competitive offer, but may have huge implications on your big-picture financial situation. This decision requires a careful analysis and depends on your unique set of circumstances.
So I got some information from a friend of mine, Paul Parotti, a financial planner, and wanted to share this. With the help of a qualified real estate agent, financial planner, mortgage professional and possibly a CPA, buyers should look at the following factors when making this decision:
$ $ $ $ $
How will the down payment expense affect your nest egg? Tying up too much of your net worth in your home would create major problems if you were to lose your job or encounter some other financial difficulty. For those who think they will always have the option of cashing out excess equity by refinancing, consider that mortgage standards on cash out refinances are much more stringent than on purchase transactions, with lower loan-to-value allowances and stricter borrower credit requirements. Even if you do qualify for a cash out refinance, closing costs may be several thousands of dollars. The bottom line: it’s best to keep enough cash available to float you for six months or more, just in case.
Read the full article here.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by
phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler
May. 20, 2008
Categorized in: Psychology Stuff
 What IS the real estate world coming to?
St. Joseph? Crystal Balls? Psychics?
You bet. There are tons of predictions floating around, and everyone wants to know:
- will my house sell?
- When will the market hit bottom?
- Should I buy or sell now or wait?
Whether you believe in the power of St. Joseph to sell your home, wish your REALTOR had a crystal ball, or are one of many folks who consult psychics on a variety of subjects, predictions seem to be the mainstay of our housing market these days.
Read more about a growing trend.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by
phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler
May. 5, 2008
.jpg) A couple of years ago blogging was almost an unknown, certainly not common knowledge.
Some agents and other real estate professional were involved but not to the extent we see today. Similarly, use of the Internet by buyers and sellers continues to grow dramatically – it is hard to find a consumer who isn’t searching for homes, and learning about real estate and agents, on-line.
Consumers these days have many advantages by working with a REALTOR (and other real estate professionals – stagers, mortgage officers, title and escrow folks, inspectors and so on) who blogs.
Real estate professionals, as well, derive many advantages in their blogging for consumers. Those of you who blog regularly know this; those who don’t (but you are reading this, right?), listen up!
Read the full article here with all the 9 advantages of blogging for YOU, the buyer or seller.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by
phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler
Apr. 28, 2008
Categorized in: House Hunting
If you have been through it you probably already know this. But maybe not.
Or you have forgotten if you bought a long time ago (and things have changed).
Buying a home, whether you are doing this for the first time or are experienced at it, really IS like having a second job, at least a part-time one. Especially if you take your house hunting seriously and want to do as good a job as you can.
The market is complicated, as are the state laws that govern how real estate transactions must occur. And if you are relocating and must both sell and buy, I would say this really becomes a full time endeavor, as least for the time it takes to get both sides of the transaction completed.
Unfortunately, I think many get into the process without giving serious thought to how much time it can take...and should if you go about it correctly.
Read more about this part time job of house hunting.
Mar. 3, 2008
Categorized in: House Hunting
 Anyone who has been reading my thoughts about house hunting can tell I am a big fan of the Internet. I use it extensively in my efforts to help buyers and sellers, and before I moved to California spent many months looking on-line to learn about the Southern California communities I thought I would like to explore for my next home (and we found our house on-line before we ever saw it).
There is so much you can learn as a buyer before you ever set foot in a potential home that meets your criteria, especially if you are relocating to a new area you are completely unfamiliar with. It can save you time, money (e.g., fewer house hunting trips) and frustration. You can learn more about the local market, get a sense of housing styles, compare homes, and much more. With applications like Google Earth you can get street views and look at the local topography, map links will show you distances, and traffic sites can tell you about the local and commuter traffic on the major roads.
BUT I think there are some negatives, too, or at least disadvantages. There are just some things that we want to know about communities and homes that you just will not get on-line, no matter how thorough you are. This has become more and more clear as I talk to buyers who are planning to relocate here, or are exploring the area, and who have questions about proximity to the beaches, views, nearness to amenities, the influence of the weather patterns, noise from the train and the freeway, and more.
In our area, with the diversity of views, housing, neighborhoods, amenities and topography, learning what most want to really know about the area so they can decide where they want to live will require a personal visit, as well as some detailed questions to a trusted real estate professional. Gaining the real feel for a neighborhood still requires a bit of touching in person.
Don't, by any means, give up the Internet searching, It's an essential part of the house hunting process. But recognize that some of what you probably need to know will transcend what is available on-line.
Feb. 27, 2008
Categorized in: Financial Stuff
.jpg) If you are buying a new home, or are a seller who has a buyer who is purchasing your home, and it will be financed by a bank, watch out for that appraisal.
Why do I raise a red flag?
BUYERS:
Well, as a buyer, the home you are purchasing must appraise at an amount that meets the underwriter's requirements for the loan amount. They won't loan you $500,000 for a home that appraises at $475,000. Not good business for the bank. So this is a critical step.
Secondly, the timing is important here. The appraisal MUST be reviewed by the underwriter in order to review it and then approve the loan. That can take a day or two, or more. So if the appraisal itself is delayed in getting to the bank this may hold up the loan approval process.
Make sure you talk with your lender and that they order the appraisal as soon as you have a signed purchase agreement. It may take a few days for the appraiser to schedule the appointment, and then several days more before the actual appraisal is sent to the bank. You will have to bird-dog this process, as will your agent, to keep things moving along.
SELLERS:
The appraisal is critical for you as well. Obviously if the home does not appraise the buyer will not get a loan and will not go to closing. Bad for you. Herein lies the risk of selling a home at over market value - the bank will wonder about loaning $500,000 when comparable homes are selling at $475,000.
The timing for you is important too, for obvious reasons. While it is not your responsibility directly you have a vested interest in things moving along. So, your agent may want to keep tabs on what is happening at the buyer's end so the appraisal get scheduled promptly. And since it is likely your listing agent may need to let the appraiser in, you don't want any delays.
Don't let a delayed appraisal cause you grief!
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Feb. 18, 2008
Categorized in: Your New Home
.jpg) Here you are at the end of your journey - moving into your new home, where you need to focus on preserving the organization you put in place before this whole relocation process started.
Here Kathi offers her final suggestions on unpacking in your new home so you can maintain that organization.
I hope you have found this series of articles on getting organized useful and will implement some of these suggestions, even if you are not moving yet. I'd love to hear your thoughts!
Good luck with your relocation!
Kathi Burns, Founder of addSpace to Your Life!, talks now about being organized in your new home and offers some final unpacking suggestions.
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A Few More Unpacking Tips
1. As you unpack, spread drop clothes under boxes and in high traffic areas to catch dust and foot debris.
2. To help your kids get used to their new space, create an agreed upon ‘home’ for each possession. The ‘home’ is the place where the item will get stored when not in use.
With this method, when it comes time to clean up, you should say, take that toy home, not put it away. There is a BIG difference between putting away, i.e. under the bed or pillow and taking it home to a pre-determined and unmistakable holding zone until further use.
3. After moving, resell or recycle your boxes. Pack and ship faculties will gladly recycle your bubbles. Peanuts have a half-life of 500 years so think twice before you toss them into the trash.
Enjoy creating your new life and lifestyle. You worked hard to find your dream home and you deserve a break. If possible, schedule time off after your move so you can recover from the move and fully settle into your new home with ease.
Kathi Burns, founder of addSpace To Your Life!™,
a Professional Organizing and Image Consulting Agency
Email Kathi for 10 Quick Tips to Organize Your Bathroom. Mention bathroom in the subject line.
You will also receive other free organizing tips from time to time.*
*We never rent, trade or sell our email list to anyone. You'll never get an unsolicited email from a stranger.
To read other articles about moving and organizing visit AddSpace to Your Life!
Feb. 6, 2008
Categorized in: Neighborhoods
If you are considering homes in the North County San Diego area, here's a summary table of some of the coastal communities, and some neighborhoods and subdivisions within them.
Happy home searching.
If I can help in any way, please feel free to call or text me at (760) 840-1360 or email me at JDowler@remax.net.
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COMMUNITY PROFILES and NEIGHBORHOODS
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CARLSBAD
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Aviara, La Costa, Rancho Carrillo, Calavera Hills, Brookfield,
La Costa Greens, La Costa Oaks, La Costa Ridge, The Bay Collection,
La Costa Meadowridge, Azure Cove/Isla Mar/Tramonto, La Costa Condos, Avocet, Sea Point Tennis Club at La Costa, Bressi Ranch, Carlsbad Waterfront Homes, La Costa Golf Course Homes, La Costa Resort Villas, Aviara Point, Bella Lago, Trieste, Alga Hills, Balearas, The Fairways, La Costa Valley, Brindisi, BluWater Crossing, Building lots, Tamarack Beach Lofts, The Bluffs, Harbor Pointe, Viridian, Emerald Pointe, Poinsettia Cove, Bristol Cove, Serenata, La Costa Resort area homes
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ENCINITAS
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Leucadia, Encinitas Ranch, Olivenhain, Nantucket and Costa Laguna in Leucadia, Surfer’s Point Resort, Waterfront Homes, Coral Cove, The Sands
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SAN MARCOS
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San Elijo Hills, Lake San Marcos, Masterpiece and Symphony at San Elijo Hills
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CARDIFF
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Walking District, Composer District, Park Place
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RANCHO SANTA FE
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Cielo, The Lakes, The Crosby
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SOLANA BEACH
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Cedros Design District
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DEL MAR
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No Neighborhood articles
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If I can provide more information about the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360
or email me at JDowler@remax.net.
Jan. 9, 2008
Categorized in: House Hunting
2007 was a tough year in many parts of the country for real estate. No question. And 2008 is not expected to be a banner year although projections are for some improvement. No one has a crystal ball so despite these predictions NO ONE knows for sure what will happen.
The media, of course (radio, TV, newspapers), tends to portray the real estate situation as pretty dismal all over, with dire predictions of doom and gloom, and headlines screaming about the drop in sales.
Yes, there have been significant changes in many markets, but unfortunately what you see in the media are the averages, the summary, the more unpleasant news, without paying much attention to what is the reality in many areas. Some market ARE doing well, with low inventory, buyers actively buying and so on. The media seems to ignore the fact that REAL ESTATE IS LOCAL. And general market conditions from a county, state or national perspective do NOT accurately reflect what is going on in the local economy, such as a city or smaller towns.
As a buyer or seller it is essential to have all the market information you can obtain so YOU have an accurate picture and can make the decision that is right for you. This is especially true if you are moving to another part of the country, as local conditions may be far different from what is being reported on the news or in the headlines. A local REAL ESTATE PROFESSIONAL can provide you with the data you need so you can decide what's best. For example:
- Are prices stable or trending up or down?
- What are the conditions for your particular price range (in some areas the low end market is doing very well, while the mid range is much slower)?
It may be that the buying or selling conditions in your intended area are not very favorable. And you still need to look at your personal financial picture to determine if buying now is right for you. And if you plan to be in your house for a number of years market fluctuations are not going to have much, if any impact in your long term outlook.
The rates are the best they have been in 2 years. Even if prices DO drop in some areas, if the rates go up, then there is a strong possibility you could pay more for the same house. Who wants to do that?
If selling your home and buying a new one is YOUR plan for 2008 (a pretty good likelihood in a relocation) do your homework NOW.
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Start your CARLSBAD HOMES SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS here
Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods (including other areas)
Are you a first time home buyer. Check out FIRST TIME BUYER CENTRAL.
Jan. 9, 2008
Categorized in: The Move Itself
 Here's my next summary article on relocation tips, Relocation is NOT for Dummies.
1. Relocation to another state or across the country is a challenge, and there is so much to coordinate. Making a list is a smart idea to keep things on track and not miss anything. There is packing to do, movers to hire, possibly kids and/or pets to worry about, and so much more. Get the lowdown on these issues here.
2. Some of you who are relocating may have a RELOCATION PACKAGE from your current or new employer. I would suggest reading this summary of the things you should consider.
In case you missed the earlier summary articles:
Summary of Relocation Tips (Post #1) - Emotional and psychological stuff
Summary of Relocation Tips (Post #2) - Selling your home and house hunting
If I can help in any way with YOUR relocation, please don't hesitate to
give me a call or TEXT ME at (760) 840-1360 or email me.
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Start your CARLSBAD HOMES SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS here
Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods (including other areas)
Are you a first time home buyer. Check out FIRST TIME BUYER CENTRAL.
Dec. 17, 2007
I have started to use a new application that I believe will be helpful for both buyers and sellers.
Map My Pix allows me to put photos on a map that are easily viewed by clicking. The viewer not only sees the photo (or a tourist site, home, etc.) but also the location.
I see some great utility and plan to use this is a number of ways for clients.
- I will include the map with relevant photos in my on-line listings (check out the first one here to see the Mapping with Photos in action) for buyers to learn more about my listings
- I'm going to start using the mapping in my listing presentation so sellers will see yet another way in which I use technology, and how will use it when I list their home!
- My relocation buyers will receive a map with the photos of the homes they will be touring when they meet with me for their house-hunting trip.
- I will also share copmmunity profiles and a map with photos of the areas my relocation clients are interested in (e.g.,photos of restaurants, sights, parks)
What do you think? Will this be helpful?
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Start your CARLSBAD HOMES SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS here
Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods (including other areas)
Are you a first time home buyer. Check out First Time Buyer Central.
Dec. 17, 2007
Categorized in: House Hunting
So you are ready to make an offer on a Carlsbad home (or elsewhere).
Are you new at this? Or do you already know the drill?
Heere are some thoughts on what to expect (keep in mind the process may vary a little bit in different states - but this is how we do it in California).
First, decide on an offer price, perhaps the most important thing you need to do...read more on making an offer here.
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Start your CARLSBAD HOMES SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS here
Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods (including other areas)
Are you a first time home buyer. Check out First Time Buyer Central.
Dec. 3, 2007
Categorized in: Financial Stuff
If you have a relocation package with your new employer, there are a number of possible components that can impact your move, and that you should check on.
Read:
Does Your Relocation Package Include an Equity Loan? and
Does Your Relocation Package Include a Buyout?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Another item that may be covered in your relocation package are CLOSING COSTS.
You might have these paid for on the sale of your home, but perhaps also at the buy side of the transaction. Check to see if either is the case, since this may have an impact on what you negotiate for on the sale or purchase of your home. It may also impact what you can afford.
For example, some sellers will offer to pay a portion of your closing costs when they counter offer YOUR offer. This doesn't do you any good if you are getting the closing costs paid for. So something else might need to negotiated as part of your agreement to buy the home which can be to your benefit, say a lower price.
Knowing ALL the details of your relocation package is critical so you are prepared.
***************************************
Start your CARLSBAD HOMES SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS here
Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods (including other areas)
Are you a first time home buyer. Check out First Time Buyer Central.
Dec. 3, 2007
 Maybe you already know this. But I bet many of you have not thought about it in this way.
As a seller of a Carlsbad home (or anywhere, for that matter), your FIRST open house is on-line...don't forget it, OR underestimate the power of what I just told you.
In this day and age of Internet marketing, unless your agent is in a cave, you should have plenty of exposure to the buying public on-line. It's the first place buyers generally look for homes, and so it is where they will gain a FIRST IMPRESSION of your home.
Is your Carlsbad home really ready for that open house?
.jpg) I wrote an article directed more toward agents, but the same information applies to sellers. You and your agent have to work as a team to prepare for that FIRST OPEN HOUSE (as an example, some of the photos I have seen on-line for homes are pretty scary - who would want to go see THAT house?!).
Read more here
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Start your CARLSBAD HOMES SEARCH here (and other San Diego communities)
Download FREE BUYER AND SELLER REPORTS here
Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods (including other areas)
Are you a first time home buyer. Check out First Time Buyer Central.
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