San Diego Home Info by Gretchen Pagnotta

Archive for the 'Belsera' Category

San Diego Home Owners May Reduce Property Tax

Propositon 8 Helps Home Owners Who Purchased During Peak Market Periods

Many people are unaware of a new State Law which is called Proposition 8.  Under this new law, property owners that own homes that have fallen below their assessed value can request a temporary reduction in their tax bill. When the market value as of January 1, 2012 falls below the assessed value established by the  the Assessor’s Office,  home owners can file for an Application for Review of Assessment prior to April 30, 2012. They must complete this form and also provide data such as comparable sales, a recent appraisal and/or current market activity.  The closed sales need to be of similar properties and ideally occur between 10/1/11-3/31/12. Many neighborhoods have had a significant impact on values due to short sales and bank owned properties selling at very low prices.

The Pagnotta Team May Be Able To Help You

If you have interest in doing this we are happy to help you!  Just contact us with your address and we can send you closed sales that are most like your home! You may receive solicitations for people who will charge you for this.  A homeowner can easily complete the form and if you live in our service areas we will help you with closed sales. For further information please go to: www.sdarcc.com.

To determine your assessed value refer to your current tax bill focusing on the upper right hand corner.

It is important to note you still may disagree with the response you receive from the assessor.   At that time you can pursue your requests by filing an application with the Clerk of Assessment Appeals between July 2 and November 30.

Further information can be obtained here.

If you need our help with a list of closed sales please contact us at GBPagnotta@gmail.com

This is not intended to be tax advice. Please consult your CPA or tax professional to obtain tax advice.

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Santaluz Market Trends 2011

Santaluz Market Trends Year to Date

I will provide complete year end trend and statistics but today am reviewing uo to 12/23/11.  Out of 64 closed sales year to date within the gates of Santaluz, 23 were noted in the MLS as distressed sales.  Distressed sales are short sales or bank owned REO).   The distressed sales drag down values but are not always the best values due to location and condition. The buyer is purchasing “as is” and may have to make improvements.  The short sales require long escrow periods.  I know of several short sales where lenders refused offers and yet in the final process and after continued market periods ended up accepting even lower offers.  This can be frustrating to both buyers and sellers.

Santaluz Lowest Priced Home Closed in 2011

The lowest price home to close in 2011 was a Spanish Bungalow, Plan 1 single story, 2970 sq ft on 14649 Caminito Lazanja. This was a lovely home that was purchased in 2005 for $1,150,000. It was listed for $850,000 in 2010, lowered to $695-750,000 range and finally closed as a short sale at $618,000.  This home was in escrow a few times while awaiting a lenders approval for a short sale.  This is a prime example of never knowing what a lender will accept for a sale and when they will accept it. This is why many buyers will make multiple offers on homes and why they “walk” because they may take an accepted offer on another home they have a contract on. If you want more information on purchasing or selling  short sales we are always available to guide you in the process.

Factors Affecting Value in Santaluz Homes

 Location, location, location is always a huge factor in value. The locations in Santaluz that are least desirable have road noise (Camino Del Sur is only getting busier with increased traffic noise), back to other homes with little privacy as far as angle and landscaping, are in the direct path of golf balls (evidence is the multiple golf balls) and yard size.  Naturally the homes that are most desirable have views, lovely backyards with space for entertaining and money spent on  hardscape, well planned floor plans (customs can be too ”unique”) and homes that are  well maintained with desirable features.

 Closings for  Santaluz  Production Homes in 2011 uder 5000 sqft

The production homes are all the homes that are not “custom.” The total number of production homes are 71 Davidson, 65 Warmington (Belsera), 64 Spanish Bungalow, 63 Garden Homes, 55 Posadas, 50 Hacienda Sur,80 Sentinels and 80 casitas. The average from this list below  is a closed sale of $998,636 for 4br/4ba at $291.27 sqft. In determining value we always separate the distressed sales from the o sales and then consider all factors in pricing a home. I will be writing a blog on what Santaluz Home sellers need to do to sell in 2012..stay tuned!

Closings for Santaluz

Closings for Santaluz Homes 5000 sqft+: I will write this blog at a later date..stay tuned!

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Santaluz Homes In Escrow for October 2011

Santaluz Home Sales for October 2011

The name of the game in Santaluz for October is “watch and wait.”  There have been few closings as we wait for a number of homes to close escrow.  We are one of the agents that have been waiting for a closing.  The lenders are giving us reasons for sleepless nights as they delay loan approvals.  When speaking with a well known and respected loan officer just yesterday we were in agreement on one thing, “preapproval means nothing.”  It has become a standard practice in real estate to request buyers to be “preapproved” for a loan. In the past it was “prequalification.”  Currently we have lenders run a credit report and obtain detailed information on a buyers employment history and assets.  Somehow even going through a preliminary process does not insure the buyer will in fact pass all underwriting requirements and obtain a loan in a timely fashion.  Our 17 day contingency periods stretch on leaving sellers frustrated and wondering if they really are going to close an escrow on their homes. 

Santaluz Shorts Sales and Bank Sales Slow The Escrow Process

The homes that are offered as short sales require a longer escrow period.  Once an offer is obtained on a short sale a Short sale package is submitted to the lender.  This package has information on the owner such as a “hardship Letter”, their assets and justification for requesting a short sale and the offer on the property. The lender will request comparable sales and eventually the lender will do their own appraisal of the property.  In the meantime, time marches forward.  Many buyers simply will not wait for the process.  When this happens the home goes back on the market and process starts all over again.  The homes that are awaiting a lenders approval of the short sale is reported in Sandicor (MLS) as “Contingent.”  Once the lender approves the offer it can be reported as “Pending.”

Santaluz Homes Currently in Escrow

The following homes are currently waiting to close an escrow.  Let’s hope I can report them as a closed sale on a future blog!

SANTALUZ CONTINGENT SALES

1.  Caminito Lazanja: 3892 sqft listed for $850,00-$875,000

2. Sentinel: 2545 sqft listed for $999,000

3. Tierra Tesoro: 4735 sqft( listed at 4259 sqft but it is a Plan 3 Belsera) listed at $1,100.000

4.  Doug Hill: 4854 sqft listed at $1,499,000-$1,699,000

5. Northern Lights: 6336 sqft listed for $1,900,000

6. Northern Lights: 6990 sqft listed for $2,000,000-$2,200,876

SANTALUZ HOMES IN PENDING STATUS

1. Run Of The Knolls: 2900 sqft listed for $830,000

2. Santaluz Village Green East:  2,248 sqft listed for $839,900

3. Garden Ct: 3,323 sqft listed for $945,000

4. Briza Placida: 3,851 sqft listed for $$1,098,000

5.  Caminito Camelia: 4,453 sqft listed for $999,000-$1,098,888.

6.  Entrada Lazanja: 3,990 sqft listed for $1,199,000

7.  Doug Hill Ct: 3,706 sqft listed for $1,199,900-$1,299,900

8.  Montien Rd: 6,337 sqft listed for $$2,495,000

9. Cmto Santaluz East : 6,364 sqft listed for $2,749,000

10.  Run Of The Knolls: 7,659 sqft listed for $2,995,000

11.  Northern Lights: 8,859 sqft listed for $3,495,000

12.  Doug Hill: 7,846 sqft listed for $3,995,000.

If you are curious about the current value of your home we are always happy to meet with you and provide a detailed market analysis.  If you would like more information on Santaluz please review some of my Santaluz blogs including Market Trends.  We live in Santaluz and are your Santaluz Resident Agent Realtors!

* The above information was taken from Sandicor on 10/30/2011 and is accurate but not guaranteed. It reflects activity by various participating brokers.

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Santaluz Belsera Plan 2 Offered For Sale

14271 Caminito Lazanja in Santaluz

Open House Sunday July 10

Warmington was the last “production builder in Santaluz. They offered 3 models for sale. The Plan 1 is all on one floor with 3800+ sq ft and the Plan 2 is 4260 sqft and the Plan 3 is 4735 sqft.  Since I have owned 2 Warmington homes I have found them to be extremely well built and offering much architectural interest and style.

This home is currently offered for sale at $1,195,000-$1,275,000. Information on closed sales can easily be sent if you are interested; GBpagnotta@gmail.com

Read the rest of this entry »

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Santaluz Closed Sales for First Week of May 2011

Santaluz Home Sales Are Brisk

We had a few closings last week! The activity in Santaluz has been excellent since the beginning if the year. We have seen an increase in interest from residents from Carmel Valley, Fairbanks Ranch, La Jolla and Rancho Santa Fe.  There are people who want larger, smaller and most importantly the Santaluz lifestyle. With club memberships at very reasonable prices, prices way below their highs and great interest rates it is a fabulous time to take advantage of this market! When people tell me they are “waiting” I have to say, “For what?” There have been some exceptional properties as far as views, location, amenities and floorplans…I say if you see what you are looking for make a serious offer and start enjoying the Santaluz Lifestyle!8129 Santaluz Village Green South..a great Sentinel with an incredible view..2 story with master up. Closed at $(35,000 and was bank owned. I loved this home for all the upgrades and location!

For market trends go to www.SanDiegoHiomeInfoblog.com/Santaluz

Closed Santaluz Sales Last Week

8129 Santaluz Village Green South…a gorgeous Sentinel with a view…closed at $935,000..I loved this home!

7774 Doug Hill Ct…a semi custom one story 4/4 4300 sq ft that closed for $1,315,000. This was first a ssale and then went to foreclosure! What a great house!

14316 Salida del Sol…a lovely Warmington Belsera Plan2 on a large lot on a cul de sac that closed for $1,200,000 and was a traditional sale…I have 2 of this model currently listed!

If you want a year to date summary of market activity in Santaluz contact me at GBPagnotta@gmail.com

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Santaluz: Belsera Floorplans

Sant

Welcome to Santaluz

Santaluz: Belsera Floorplans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Belsera Plan 2

 

For more information on Santaluz read my other blogs: Click here

To see what homes are on the market in Santaluz contact me at GBPagnotta@gmail.com

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