Incredible Carlsbad Home SOLD!

SOLD IN 14 DAYS! Beautiful family-style residence, with charming curb appeal and pride-of-ownership upgrades. Come see this thoughtfully designed open floor plan, featuring vaulted ceilings, travertine flooring, and clerestory windows that flood each room with natural light. Great La Costa location, within the highly sought-after neighborhood of Alga Hills, and your passport to an authentic San Diego lifestyle.

7047 Zubaron for Social MediaSold
Single Family Residence$794,000

Beautiful Family-Style Residence

7047 Zubaron
Carlsbad, CA 92009

  • 3Beds
  • 2Baths
  • 1,990Square Feet

Smart Corner SOLD by Wesley Guest!

SOLD FOR FULL PRICE IN 5 DAYS. This loft condo is on the 18th floor with the inviting bay as your backdrop. It has 863 SF and has loft and industrial interior to add to its charm. Large bathroom with ceramic tiles. The living/bedroom area is fully carpeted and the kitchen and entry has hardwood laminate. Granite counter tops, stainless refrigerator, stove, oven & microwave appliance included. In home washer/dryer. Security is locked complex with guard on site. Underground garage has 1 parking space.

1080 Park 1812 Smart Corner for Social MediaSold
Condo$425,000

This loft condo is on the 18th floor

1080 Park Blvd. #1812
San Diego, CA 92101

  • 1Beds
  • 1Baths
  • 863Square Feet

5 Negotiating Tactics That Kill Real Estate Sales

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Low-ball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
  4. Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.

 

Negotiate

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Absolute Charmer for Sale at 5109 35th Street, San Diego CA 92116

 

My newest listing is a charming home located in the quiet “north” section of Normal Heights, within walking distance to the Adams Avenue shopping & restaurant district, located at 5109 35th Street, San Diego CA 92116. The floor plan is open & flows well.  The home is full of natural light & has recently installed recessed lighting for comfortable evening relaxation.  Characteristics include a new roof, new windows, new paint, new floors, new front landscaping, a new bathroom, new fixtures plus more. This home is a must see for anyone considering a turnkey home ready for move in.

See More Pictures and to get the Current Listing Price

The Master Bedroom is located on the second level and includes a large walk in closet and a secondary closet.  There is a bedroom on the first floor with a full bath, perfect for friends and family when they arrive for visits.  There is a third bedroom located on the second level.  The kitchen has 18′ faux Stone tile flooring, expansive oak cabinetry, a quaint breakfast nook with ceiling fan, and tons of storage. The kitchen opens directly to the living room and dining room area. The home is full of natural light but also has recently installed recessed lighting for the evenings.

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The garage is huge with plenty of room for 2 cars plus workshop area and room to store anything else. The yard is a mini paradise with plenty of room to play, relax, and enjoy those beautiful sunny San Diego days.

Contact the Wesley Tyler Real Estate Group with any questions or to schedule your own private viewing by using the form below:

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!

Should You Buy Real Estate During The Holidays?

Should You Buy Real Estate During The Holidays?

for sale sign on san diego home during the holidays

Buying can be Sweet!

So should you?  Well, only if you like less headaches and a bargain!  Many would be home buyers put the skids on their real estate search during the holiday season.  Too much time and stress for most.  No need to explain, I get it.  But for those who do decide to partake in the real estate market, many great deals can be had in addition to a much smoother process than in the peak real estate home shopping times.  Here are several reasons I believe the holiday season can be a great season to be house hunting:

You are in a Far Better Position to Negotiate a Great Deal

There are far less buyers searching for real estate and bidding on homes.  This accomplishes two very desirable results:  Less buyer demand usually means lower prices and less buyers making offers means a reduced chance of getting into any type of bidding war.  Bidding wars can be won but who needs the stress if you can avoid it.

Motivated Sellers

Sellers on market usually fall into the category of every buyers favorite catch phrase “motivated seller”.  They are usually on market because quite frankly they need to sell for whatever their reasons might be.  This means they may be more willing to negotiate, drop the price, include other favorable buyer incentives, and just be generally more agreeable on the entire process.  This is a very different attitude to take than what most sellers might be like during the peak home buying season.  Sellers are also motivated to sell in order to claim their tax incentive before the year is up in January.

Tax Deductions

sold home in san diego during the holidays

Sold!

Making your first mortgage payment before the new year means you will be able to take advantage of the tax incentives, especially the mortgage rate interest deduction.  Just like Jimmy Fallen says “Who doesn’t like to save money”?

Faster Closings

There are less transactions so expect a much more smooth and efficient process.  More lines at Best Buy and Walmart mean shorter lines for you at the underwriter, appraiser, and other entities associated with closing your transaction.  This can pay huge dividends in making your contingency period far less stressful.

San Diego Real Estate for Sale

So Should You Buy Real Estate During The Holidays?  I would venture to say Yes!

Questions?  Comments?  Please send them my way anytime.

San Diego Real Estate: Skip The Zestimate, Why Zillow Estimates Are Wrong

San Diego Real Estate: Skip The Zestimate, Why Zillow zillow home value estimatesEstimates Are Wrong

I saw it on the internet so it must be true right?  I know this almost never happens (wink) but in this case the internet might just be flat out wrong.  If you are a  home buyer or potential home seller, there is no doubt you have already seen or at least heard about the website Zillow and maybe even it’s “Zestimate” function for evaluating San Diego real estate.  While not an entirely bad place to start, don’t use it for anything other than a starting place.  It’s not reliable or accurate in most cases.

Below are just several of the reasons the tool is not quite what it’s cracked up to be:

So how much is a San Diego Home Worth?  A home is only worth as much as the San Diego real estate market (home buyers) are willing to pay.  The market will derive a value from other “like” properties or what’s known as “sold comparables”:  Homes that sold recently that are similar in characteristics and location.

So let’s say you type in a San Diego home address to check the “Zestimate”.  Boom, there it goes and out pops a value.  This is where the trouble begins.  How is it that Zillow was able to create a tool that can evaluate a property’s value in seconds yet billion dollar lenders and banks still insist on the good old human or appraiser approach?  The reason is there are elements to a property that cannot be automated (not yet at least).  Upgrades and sutle differences are almost impossible to differentiate unless you are in the property physically.

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How about views?  All views are not equal and all views are not equally valuable.  Need an human being here as well.are zillow zestimates accurate

Another issue is the selection of sold comparable properties or homes to compare the subject property to.  Zillow, Trulia, and other syndication sites a most only have approximately 80% of the homes for sale listed and included in the calculations.  That means they are missing almost 20% of the market.  Would you trust a figure that is missing 20% of the data?

Here is the primary problem I see with Zillow and their “Zestimate” functionality:  Real Estate is appraised by choosing reasonably similar sold comparable properties and assigning the specific characteristics of the subject home.  Adjustments are made to the sold price.  Then and only then is an average price derived from at least 3 sold comparables in most cases.  If Zillow could employ this algorithm into their Zestimate, they would have an unrivaled real estate market value estimation tool on their hands…  But they didn’t.

In summary, if you insist on using Zillow’s Zestimate, take it with a grain of salt otherwise you might be very disappointed when the appraiser delivers their final report.

Questions?  Comments?  Send them my way anytime.

Federal Reserve Holding Pull Back On Bond-Buying Activity

The Federal Reserve is holding off on taper (Bond-Buying Activity).  For the past several years, the Fed has been buying approximately $85 billion in bonds per month.  This strategy has kept interest rates low and attractive to would be home buyers and borrowers.  Most industry professionals (including this economist/real estate broker) expected that strategy to stop or at least a reduction.  U.S. and global bond markets have been highly reactive to the Fed’s taper talk.

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In true Federal Reserve fashion, they continue to defy the masses and kept the markets guessing:united states federal reserve building

Citing rising mortgage rates and an unstable economy, the Federal Reserve said that it’s holding off on its decision to pull back on its bond-buying activity.

“Household spending and business fixed investment advanced, and the housing sector has been strengthening, but mortgage rates have risen further and fiscal policy is restraining economic growth,” the Fed said in a statement.

Rates on 30-year fixed-rate mortgages averaged 4.5 percent with an average point of 0.7 for the week ending Sept. 19, down from 4.57 percent last week but up from 3.49 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages, five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans and one-year Treasury-indexed ARMs also fell.

Questions?  Comments?  Send them my way anytime!