First Time Home Buyers 7440 Waite Drive

SOLD BY WESLEY GUEST Id like to thank and wish my clients the very best on their purchase of this cute remodeled La Mesa home at 7440 Waite Drive. I know you will be very happy here. Thank you for trusting me and allowing me to guide you through the process.

Must see remodeled home with no expense spared! New custom kitchen with beautiful quartz counter tops, stainless steel appliances, & walk-in pantry. Large living room with cozy fireplace perfect for entertaining! Big master bedroom with walk-in closet. Bathrooms have new modern tiled floors, sinks, white wood cabinets, & brushed nickel lights / fixtures. Modern touches throughout. Feel the natural light w/new dual pane windows. New floors throughout & solar panels.

Fabulous tropical paradise in La Costa Greens

SOLD BY WESLEY GUEST FOR $1,050,000 Fabulous tropical paradise in LaCosta Greens. Lushly landscaped private yard w/ canyon views & your own energy efficient salt water pool w/ Baja bench, & spa. Plenty of room in this 4 bedroom, 4 ½ bath & 3 car garage. The home features spacious gourmet kitchen, SS appliances, granite counters, tile flooring, fireplaces in living & family rooms, First level bedroom w/ full en suite bath. Master bedroom w/ balcony view, tiled bath, dual sinks, vanity, & much more. All bedrooms with own baths.

Enjoy the Presidio community amenities that are only a short walk away the includes a pool, tennis, gym, playground and clubhouse. Walk/hike around the beautiful grounds and alongside the waterfalls and duck lake. Close to Legoland and the Carlsbad outlet mall. Walking distance to Alga Norte Community park and water center.

4034 Epanow Ave… This cozy home is a must see for anyone looking in the Bay Ho

SOLD FOR $523,000 BY WESLEY GUEST! Location, Location, Location… This cozy home is a must see for anyone looking in the Bay Ho

This cozy home is a must see for anyone looking in the Bay Ho area of Clairemont. It has been renovated from top to bottom to include the kitchen, both bathrooms, the master bedroom, a new roof, a new electrical panel, new exterior paint, new stone flooring on the large patio. Other attributes include a huge backyard, fruit trees (orange and avocados), a workshop that can be used as a laundry room, and a fireplace in the family room adjacent to the kitchen.

Click on the picture (4034 Epanow Ave) below for more pictures and all the details.

San Diego Real Estate Market Report and Stats for November 2014

Thinking of buying or selling a home?.  Maybe you already own real estate and are curious what’s happening in the market?  These are the figures for San Diego and several micro San Diego real estate markets including Downtown, Pacific Beach, San Elijo Hills, and Mira Mesa you are looking for.  This is real deal information and statistics for what is happening right now.  Most other public data and “news” stories about the market follow the Case Schiller index and are already 2 months old (There is a two-month lag time in the data reported).  Old news is now news in real estate.

The best argument I have heard for why it’s a good time to buy real estate:  Mortgage interest rates are still a historical lows, home prices have reached a stable and sustainable level, and rental rates continue to climb and outpace home appreciation levels (rents are expected to climb 19% over the next couple years!).   A mortgage payment on a home will be cheaper in most cases than renting a home in San Diego.  Also, don’t forget that unlike stocks, bonds, and other investment entities and options, you get added utility from being able to live in your investment.  You gotta live somewhere right?  I’d like to see you move into your shares of Microsoft or Apple.  Maybe the iHome?  Sorry, a little real estate agent humor.

San Diego real estate market stats for November 2014 below:

San Diego Real Estate Market:

  • Median Price $450,000 0% prices are flat ($450,000 previous month). +8.4% from same month last year.
  • Inventory dropped 7% from 10,092 to 9,394 since last month. -7.2% from same month last year.
  • Sales dropped 5% from 2,928 to 2,769 homes and condos since last month. -12% from same month last year.

Downtown San Diego Real Estate Market:

  • Median Price $525,000 -.001% prices are flat ($526,000 previous month). +13.5% from same month last year.
  • Inventory dropped 12% from 315 to 278 since last month. -14.2% from same month last year.
  • Sales dropped 15.5% from 71 to 60 homes and condos since last month. -22.1% from same month last year.

THINKING OF SELLING REAL ESTATE IN SAN DIEGO?  THINK AGAIN!

San Elijo Hills Detached Home Real Estate Market:

  • Median Price $700,000 -3% price decrease ($680,000 previous month). -1.3% from same month last year.
  • Inventory dropped -7% from 56 to 52 since last month. -13% from same month last year.
  • Sales dropped -12% from 17 to 15 homes and condos since last month. -44% from same month last year.

Pacific Beach Real Estate Market:

  • Median Price $665,000 -17% price decrease ($807,500 previous month). -6% from same month last year (It’s normal to have monthly wild price swings in PB).
  • Inventory dropped -11% from 195 to 174 since last month. -8.4% from same month last year.
  • Sales dropped -10% from 52 to 47 homes and condos since last month. -6% from same month last year.

Mira Mesa Real Estate Market:

  • Median Price $395,000 +16% price increase ($470,000 previous month). +17.5% from same month last year.
  • Inventory dropped -11% from 131 to 117 since last month. -15.8% from same month last year.
  • Sales dropped -8% from 48 to 44 homes and condos since last month. -22.8% from same month last year.

HOW TO BUY A SAN DIEGO HOME OR CONDOMINIUM

 

Short Sale Seasoning Requirements Will Change on August 16th, 2014

Short sale seasoning requirements will change on August 16th, 2014. You might be thinking what does this mean exactly and how long do I have to wait before I can get a new mortgage after a short sale in San Diego?

Current seasoning periods for short sales under most conventional loan programs are:

  • 7 years with less than 10% down payment.
  • 4 years with between 10% – 19.99% down payment.
  • 2 Years with 20% or more down payment.

This will change on August 16th, 2014. The new seasoning guidelines for conventional short sales are:

  • 7 years with less than 10% down.
  • 4 years with 10% down payment or more (A 2 year seasoning requirement is allowed if you can document extenuating circumstances that caused the short sale. A declining market is not considered a hardship).

So what does this mean? This means that if you sold San Diego real estate as a short sale recently, you have to wait 4 years before you can get a new mortgage if you managed to save 10% for a down payment or more. You will have to wait 7 years if you have less than a 10% down payment.

SEARCH SAN DIEGO REAL ESTATE LIKE A PRO!

Why the change from Fannie Mae? It lowers the overall risk to the mortgage portfolio’s Fannie Mae holds although the side effect will be less borrowers and buyers in the real estate market. The magnitude of this effect will soon be demonstrated.

Are there any alternative options to get around the 4 year or 7 year seasoning requirement? There will be many niche lenders and portfolio investors looking to cash in on this new restriction from Fannie Mae. There will be options but with additional risk to any investor comes higher cost and usually rates to the borrower. Whether or not the products will make sense will be decision that must be made on an individual and unique basis.

Agree? Disagree?  Questions?  Please use the my form or comments section below.

Real Estate Video Tour for 840 Turquoise Street #210 in Pacific Beach 92109

 

My latest real estate video tour for 840 Turquoise Street #210 in Pacific Beach 92109.   This incredible condominium is available for sale.  It is one of the largest 1 bedroom, 2 full bathroom condos in the entire neighborhood at over 900 square feet..  It has all the upgrades and amenities including 2 pools and a spa.  Please contact me for more information or to schedule a private tour.

For more information including pricing, please click here

 

Pacific Beach Real Estate Market Report for April 2014

 

Pacific Beach Real Estate Market Report for April 2014:  The real estate market in Pacific Beach is busy and competitive!  Home and condo inventory levels are lower than average for San Diego and creating many bidding wars for the best properties.  The median price in Pacific Beach is at $610,000 which right about were prices were at the real estate peak approximately seven years ago.

View All Pacific Beach Real Estate for Sale

Home sellers in Pacific Beach are selling in just about a month or so.  If you are a home buyer in Pacific Beach, expect to face competition from other would be Pacific Beach home owners.  Summary statistics below:

92109 (low inventory, prices about where they were at the peak).

  • Median Price:  $610,000…
  • Active Market Time:  50 – 60 days
  • March 50 Sales
  • Currently 154 Active Listings, based on close of March we are in a border line sellers market/normal market.  Inventory is very low right now.

Questions?  Comments?  Agree?  Disagree?  Speak your mind using the form below.

My Newest Listing at 1271 Holmgrove Drive in San Elijo Hills

 

Please enjoy my high definition video tour above filmed at my newest listing at 1271 Holmgrove Drive in San Elijo Hills.  Every now and then, a truly special home reaches the market for sale.  1271 Holmgrove Drive sits on the peaks of the mountains overlooking San Elijo Hills and the Pacific Ocean.  This is very special home, one of the best in the neighborhood.

View all San Diego Homes for Sale

No expense was spared in upgrading this luxurious Atherton residence.  This is immediately evident upon entering this cozy residence as the custom dark mahogany plantation shutters and the elegant wrap around wrought iron staircase are instantly visible.  The custom floor treatments are also pleasing, a carefully thought out combination of tumbled travertine stone and custom hickory brick wood floors hand cultured by century farm

The kitchen, connected to the main living area, was designed and constructed with functionality and the entertainer in mind.  Family gatherings, celebrations, and holiday merriment will be a breeze.  Upgrades include rare golden ray granite tops and back splash, detail kitchen sinks made by Ceco including extra vegetable sink, a kitchen appliances and a warming draw all by GE profile.  The main living room is adjoined to the kitchen with a custom word with custom molding entertainment center by Idell, a built in TV outlet, and a surround speaker system audible in 3 separate rooms.

View all San Elijo Hills Homes for Sale

The master suite contains a private balcony not included in other homes in the neighborhood, Emerador marble throughout the master bath area, a separate stand up stone tiled shower, custom paint, and a custom closet built in system fit for the most expansive clothing and shoe collections.

Other upgrades this fine home holds are upgraded overhead cabinets in the laundry room, A full custom wood built and molding in wall cabinets and wine storage built by Idell, full cat5 wiring throughout the home, and a pre-wired for a Home defense alarm-system.

The outdoor area is one of the best in the entire community.  Characteristics include a mix of local and tropical landscape, stylish tile, a built in irrigation system, elaborate lighting and drainage, two diff water fountains, an overhead canopy, seating and food preparation areas to include a BBQ, sink & outdoor refrigerator.

How to Sell your San Diego Home or Condo

The views from this home are expansive and panoramic.  On a clear day, white water surf is visible to the west and the downtown city skyline to the south.  Truly some of the best views in San Diego County.

Please contact me for pricing and to schedule your private showing at 1271 Holmgrove Drive.  Like the video and have a home to sell?  Let’s chat, video sells property faster, with less hassles, and for more money.

 

My San Diego Real Estate Predictions for 2014

My San Diego Real Estate PredictReal estate forecast for 2014 by san diego real estate agent wesley guestions for 2014:  2013 was a firestorm for San Diego real estate.  For the first half of the year, we experienced a strong sellers market with multiple offers from home buyers on just about anything with walls, a door, and a roof.  By the second half of 2013, San Diego real estate inventory levels started to rise along with an uptick in interest rates.  The result was a return to a balanced or normal real estate market.  So what is in store for 2104 in San Diego?

  1. Prices Will Continue to Rise but at a Sustainable Pace.  San Diego will see an increase in home inventory as more homeowners achieve positive equity and sell their homes.  This will include the “move up” home seller and the retirees looking to “down size”.
  2. Interest Rates Will Continue to Rise.  The Federal Reserve announcement that it is reducing their purchase of mortgage backed securities should create an upward trend in interest rates that could slow price escalations.  We will be at a or near 5.2% by close of 2014 as compared to approximately 4.5% in the present market.
  3. The Number of Investor Purchases Will Decline but Remain Substantial.  Although prices have risen, there are still plenty of decent deals to be had.  The renovation / flip market will continue to dwindle but investors looking to purchase San Diego real estate and hold for the extended term will remain prevalent in the market.
  4. Population and San Diego Job Increases Will Continue to Push Real Estate Prices Higher.  Favorable job reports and paradise type weather will continue to keep demand high for San Diego real estate.  There are more people and families than housing currently available.
  5. New Construction Will Rise from the Ashes.  Home prices continue to rise and justify new construction, particularly given land, labor, and materials costs. In addition, lenders will make loans and credit easier to obtain for smaller builders and developers.

Questions?  Comments?  Please send them my way anytime!

My Five Best Tips For Improving Your Credit Score

how to improve your credit score

Destination Best Credit!

My Five Best Tips For Improving Your Credit Score:  It’s no secret your credit score is of the utmost importance when applying for a mortgage, home loan, or any type of credit.  The terms “well qualified” and “for those who qualify” come to mind.  Here are five tips for improving your credit. It’s not about quick fixes, but responsible financial activity over time.

  1. Get a credit card: OK, this may seem counter intuitive, but let me explain. When used correctly, a credit card can be an effective tool for building credit. Charge a few budget-conscious purchases each month, and pay the balance off before your due date.
  2. Keep your balance low: This is the other side of the coin with credit cards. Try to only charge for items you could pay for out-of-pocket, and try to stick to a balance of only 10 percent of your credit limit.
  3. Fix credit errors: You’re entitled to free credit reports each year, so take advantage and review your report for any possible errors, such as incorrect limits or closed accounts.
  4. Leave paid debts on your report: Paid off debts like car loans show that you have a history of paying your debt on time.
  5. Ask! If you’re looking to pay off a debt quickly, it can’t hurt to ask the lender to lower your interest rate. You can’t get what you don’t ask for!

Questions?  Comments?  Please send them my way anytime!