San Diego Home Info by Gretchen Pagnotta

Archive for the 'Market Trends' Category

Market Appears To Stabilize

Home Prices Rise in Half of U.S. Cities as Markets Stabilize

http://bit.ly/J4CLij

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Is It The Time To Purchase A Home in San Diego?

Buying a home won't get much cheaper

I enjoyed this article and wanted to share it.  Since the cost of renting a home is many times the same or more than owning a home.  It makes the most sense financially for people to contact a lender to see if they are qualified to purchase at this time.  Rates are historically low, lenders are providing programs for even challenged borrowers and home values are at reasonable levels. Buyers are always afraid of "leaving money on the table" when negotiating. We always do extensive comparable reviews of like properties that have closed escrow prior to writing any offers.

http://bit.ly/ILRVbV

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Taking a Loss on Your Home

Is a Loss on a Home Sale Deductible?

It is pure pain to take a loss on your PERSONAL RESIDENCE  home in the current market.  As Realtors we cannot give tax advice but we can refer people to articles suh as this. It is always best to contact your CPA for your specific circumstance. This article sheds some light on the subject. There are different regulations for your  investment (rental) properties.

http://bit.ly/IOUjN5

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Santaluz Home Sales Year to Date 2012

Santaluz Home Sales Picking Up in 2012

We are finally seeing some buyer confidence which has been reflected in the market in the past few months.  Just last week 2 short sales came on the weekend and went into contingent sale status. They each had multiple offers with some being “all cash.”  The prices are bid up when these homes come on at low prices so we will not know the true sales price until they are approved by the lenders and the home closes escrow.   This is actually detrimental to traditional sales (non distressed). Buyer see the list prices and assume they are sold in this range. Therefor they reflect this on their offers with other homes.  Consumers need to be reminded that all short sales need to be approved by the lenders which includes a lender appraisal. We have seen lenders deny prices on offers made if they believe the pricing is too far below market.  Although someone owning a short sale does not care about their price and therefore neighborhood values, we as Santaluz homeowners do care! Therefore if you or someone you know is in distress we welcome the opportunity to talk with them. We price these homes appropriately so the short sale will be approved in a timely fashion and neighborhood values are maintained!

 To see pictures and more detailed data on closed sales

 ACCESS MY FULL SANTALUZ CLOSED SALE REPORT!

To see the most recent listings in 92127 click here!

To see overall Market Trends click here!

If you are considering a purchase or sale let us know as we have specific buyers looking for various properties in Santaluz! GBPagnotta@gmail.com

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Buying a Home in Rancho Bernardo,Ca.

8  Great Reasons to Purchase a Home in Rancho Bernardo, Ca.

Rancho Bernardo is the northern most residential community within the City of San Diego. It is located off   Interstate 15 just south of Lake Hodges in Escondido and the San Pasqual Valley. This master planned community encompasses @ 6,511 acres.

 1 .Rancho Bernardo Has a Perfect Climate

 Near perfect year round climate and sunshine.  Check out what the weather is today! This allows people to enjoy the outdoors year round. Many of the neighborhoods have community centers with pools, tennis facilities, BBQ areas+more!

2.  Rancho Bernardo Has Several Golf Courses

Rancho Bernardo Golf

If golf is you game you will have plenty of choices with public as well as private courses in Rancho Bernardo.  Go to my website to learn more! Combined with #1 perfect climate get put your clubs and get ready to improve your game!

3.  Rancho Bernardo Offers a Variety of Well Planned Neighborhoods

New Construction in Rancho Bernardo

There is a variety of housing available in Rancho Beranrdo.  There are patio homes that appeal to busy working professionals or empty nesters, attached condos starting in the $200′s for a 2 bedroom, senior neighborhoods that require a resident to be 55 years of age, family neighborhoods centered around community centers, large estate properties some with gorgeous golf course and or montuan views,  newer neighborhoods with walk to schools and fabulous walk scores for shopping and restaurants and more. There really is such a variety of properties that appeal to every budget and home buying “wish list.”

To search for the newest listings in 92128 click here!

To search for the newest listings in 92127 click here!

4.  Rancho Bernardo Offers Residents Great Poway Unified Schools

Great Poway Unified Schools

Poway Unified School District consistantly ranks well with performance and is a sought after district for people moving to San Diego. 

5.  Rancho Bernardo is Located Just North of San Diego

Rancho Bernardo is conveniently located @ 30 minutes north of downtown and the airport . Access to the coast is very conveniently now with Camino del Sur extending to 56. Residents can enjoy the beaches of Del Mar and La Jolla.

6.  Rancho Bernardo has Excellent Medical Facilities

Pomerado Hospital  is located is conveniently located for easy access to Rancho Bernardo residents. UCSD, Scripps and other leading medical facilities are all within a 20 minute trip. Many dentists, doctors, chiropractots, physical therapists have offices in or very close to RB.

7. Rancho Bernardo Has Plenty of Shopping

If you want a community that offers a variety of shopping you have some to the right place. What ever you are looking for is there!  Tp name a few of my favorite places to shop you will find; Costco, Marshalls, Trader Joes, Sprouts, Jimbos, World Market, Chicos, Pier One, Target, Michalel’s and coming soon Nordstrom Rack!

8. Rancho Bernardo Has Plenty of Restaurants

You will not starve if you decide to make Rancho Bernardo your next home.  There are the familar restaurants such as Maria Callenders, Ca Pizza Kitchen, Claim Jumper as well as some fine dining such as El Bizcocho at the Rancho Bernardo Inn and Bernardo’s. My favorites include Capri Blu, French Market Grill, Cafe Merlot and the Barrel Room.

Is there something else you are looking for that I have not mentioned? If so let me know, GBPagnotta@gmail.com

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San Diego Home Market Trend Says Buying Is Better

Rent vs Purchase

Is it getting cheaper to purchase than to rent?  I just read a great article in Business Insider that states this is getting to be the case in Southern California. I know in the areas I work, North San Diego County it is getting very difficult at all price levels to find rental homes and the rents are continually rising.  With interest rates at all time lows and with prices down it is pretty easy to do the math and find home ownership is a better choice in most areas than renting.  Naturally, home ownership also offers so many other advantages since you are in control of the length of time you can stay in a neighborhood and are not at the mercy of a landlord. The fact that it is less expensive is bringing more people into the market and we are seeing a much more balanced market.  Investors have flocked to purchase condos and small homes as they now can look forward to some appreciation, write offs and a positive cash flow in many cases.

In general our resale inventory is low and we are seeing “the good ones selling”.  I have been showing property all week and am amazed also at how well the sellers are preparing their homes. The lights are on, music playing, candles lighted so the homes smell wonderful and everything staged to perfection.  This type of preparation entices people to want to purchase so they can enjoy the emotions of home ownership. Combining the simple math and then adding the emotions says one thing…buying is the way to go!

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San Diego February 2012 Home Market Trends

San Diego Board of Realtors Has Statistics for February 2012

The general comments and discussion among agent in the past 2 months has been “we are busy and inventory is limited.”  Naturally if you have had  your home for sale for some time and you hear someone say “inventory is limited” you wonder why you don’t have multiple offers.  In general the basic rules always apply; If a home is in a popular neighborhoods, presents well and is priced with the market based on closed sales you should be seeing offers.  Personally what I am experiencing is relocation buyers coming for good jobs with major employers in San Diego and people who are making offers and deciding to purchase rather than lease. The statistics will play themselves over the next few months.  I do not see any radical jumps in pricing but I see many more pending sales in all prices ranges which is a positive sign for recovery.

Click Image To Enlarge For Details

The Housing Market Reports

I found an interesting article on DSNews about how reports are made about market trends.  As agents we find many times the sites such as Trulia do not have accurate information. In addition some local papers provide inaccurate statistics.  We recently sat down with a title rep who reviewed all the coastal sales and told us how several coastal zip codes are misrepresented in reporting. that is why it is always best to look at a particular neighborhood and prepare closed sales and trends for that particular specific area.

If you need information on any areas of San Diego, let us know! GBPagnotta@gmail.com

To review other market trends you can go here.

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Closed Sales Santaluz Last 90 Days

Santaluz Homes Closed in Last 90 Days

We are seeing an increase in activity and a decrease in available inventory throughout 92127 and 92130.   Currently we are working with 3 relocation buyers all planning on moving to new positons in the next 3 months.  In general spring/summer stats will be closely watched as the top school district areas in the 56 corridor; Carmel Valley and Poway Unified are always first choices for reloacting families demanding good schools and a convenient location.  New homes are available in 4S Ranch, Del Sur and a new Pulte as well as Davidson community as well as Pardee’s Pacific Highlands Ranch. Santaluz is experiencing a surge in custom home building.

Here are the closed sales for within the gates of Santaluz in the last 90 days.

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The Pagnotta Team Gets Coldwell Banker Award for Sales in 2011!

Gretchen and Alan Pagnotta Lead Sales in North San Diego County

Last year was one of the most challenging years we have worked in Real Estate.  The short sales were more than challenging with delays and hurdles to jump and traditional sales had to compete with the distressed sales.  Emotions were high with both buyers and sellers. No one was really happy!  Sellers felt they are giving their home away and buyers need to be sedated to sign a contract thinking the market will fall further. Many times the appriasals came in below the contracted sales price causing another set of problems.  So far 2012 has seen a welcome change! The inventory is down, buyers are purchasing and not saying they want to rent and sellers have come to terms with their values. There has never been a better time to sell and make another move! Granted if you are selling and cashing out I would wait a few years. 

Coldwell Banker President’s Circle Award

Alan and I will receive our award this next Tuesday. Year after year we consistently maintain a high sales volume. Our focus ia always San Diego North County.  Each year we seem to sell homes in Rancho Bernardo, Poway, Carmel Valley, Escondido, Encinitas, Carlsbad, Fallbrook, Vista and also work with new home builders in these areas. We always enjoy first time buyers and work also with people scaling down, moving up, investors and luxury home buyers and sellers in North San Diego County.    It takes tenacity, a huge amount of positive thinking and optimism, skillful negotiation and knowledge of the market.  Thankfully with the help of Coldwell Banker we are given all the latest tools to help both buyers and sellers. Our global internet marketing and search engine optimization is outstanding.  Currently we are working with 4 relocation buyers who found us on the internet. We just returned from the Gen Blue Coldwell Banker Training event in New Orleans.  We have a whole new bag of tricks to implement.  Social media is playing a huge part in how real estate is being marketed.  We plan to launch a series of community videos and focus on lifestyle marketing for both buyers and sellers.

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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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