October 22nd, 2014

San Diego Real Estate Update for October 2014

As summer draws to a close all signs point to the San Diego real estate market settling down and reaching a state of equilibrium in October. The median sales price for attached and detached homes are up 6.3% compared to one year ago. Inventory levels have also remained stable, which is a good sign.

San Diego ranked among the top five best performing cities in the latest (July 2014) S&P/Case-Shiller 20-City Home Price Index. The average market time for a home in San Diego is 40 days, which means the average time it takes to sell a home in San Diego is 40 days or less – a remarkable achievement considering that market times of 6 months were the norm just a few years ago.

And there’s potentially more good news for homebuyers down the road! Recent reports indicate that the stringent borrowing requirements for home loans set by Dodd-Frank are set to be reviewed in favor of a more relaxed set of standards. The FDIC, SEC and other regulators are meeting on October 22 to discuss the proposed changes to Dodd-Frank. We will post more details as we get them.

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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July 10th, 2014

6837 Citrine Dr Carlsbad CA 92009 – Luxury La Costa Home

Team Aguilar agent Howard Blum just listed this stunning La Costa home for sale. A home perfect for entertaining, relax and enjoy the luxurious lifestyle/comfort in this gated Balearas home at 6837 Citrine Dr, Carlsbad, CA 92009. Feel the ideal, breezy elevation from the backyard and enjoy the views of the La Costa Golf Course and western sunsets. New Solar setup makes this an extremely cost effective proposition! Two sound systems, one in master suite and 1 downstairs to control the ambiance. The Home also comes complete with a jacuzzi! Call Howard at 858-354-4551 with any questions or to schedule a showing!

6837 Citrine Dr Carlsbad CA 92009

6837 Citrine Dr Carlsbad CA 92009

6837 Citrine Dr Carlsbad CA 92009

6837 Citrine Dr Carlsbad CA 92009

Check the link below for more information on 6837 Citrine Dr, Carlsbad, CA 92009

http://www.sandiegoluxuryrealty.com/blog/2014/07/just-listed-home-sale-la-costa

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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July 2nd, 2014

4th of July Fireworks in San Diego 2014 Edition

4th of July Fireworks in San Diego – 2014 Edition

We here at Team Aguilar love fireworks and love celebrating our nation’s independence, and we believe you should too! Here is a list of all the fireworks displays scheduled in San Diego. Remember to call in advance before making the trip. All events are free-admission unless otherwise stated – check the event websites listed below for more information. Be safe, enjoy yourselves and have a great fourth of July everybody!

Here are a list of 4th of July Fireworks in San Diego 2014 events:

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Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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July 1st, 2014

Downtown 92101 Market Update

A quick update on Downtown San Diego Inventory for sale.

Downtown 92101 Market Update

The Downtown real estate market continues to stay hot. We have not seen anything sell for less than $500 / foot in a few years now. We continue to see an upward swing in value and I would expect it to continue for the next few years. As long as interest rates remain reasonable and we see values in the $500-1,000 square foot continue to see sales and new listings come on line. When you compare San Diego to other international markets values in San Diego are a bargain. Locals may have a difficult time seeing this but that is why so many foreigners are coming in and purchasing property as quickly as they can. It’s a no-brainer and real estate in the United States continues to be one of the safest places to park your money.

 

 

Newest Listings in Downtown

500 HARBOR DRIVE #915

San Diego


500 HARBOR DRIVE #915, San Diego

$ 639,000

1,095
2
2

645 Front #310

San Diego


645 Front #310, San Diego

$ 1,095,000

1,829
3
3

2244 2nd Avenue #21

San Diego


2244 2nd Avenue #21, San Diego

$ 450,000

1,089
2
2

1601 Kettner Blvd #7

San Diego


1601 Kettner Blvd #7, San Diego

$ 374,900

800
1
1

1240 India Street #522

San Diego


1240 India Street #522, San Diego

$ 390,000

772
1
1

1205 Pacific Highway #3306

San Diego


1205 Pacific Highway #3306, San Diego

$ 1,465,000

1,684
3
2

Most Recent Sales in Downtown

1944 State St. #16

San Diego


1944 State St. #16, San Diego

$ 365,000

735
1
1

575 6th Avenue #805

San Diego


575 6th Avenue #805, San Diego

$ 398,500

679
1
1

350 K Street #617

San Diego


350 K Street #617, San Diego

$ 499,000

933
2
2

425 Beech Street #1352

San Diego


425 Beech Street #1352, San Diego

$ 330,000

655
1
1

1970 Columbia Street #407

San Diego


1970 Columbia Street #407, San Diego

$ 367,500

805
2
2

321 10th Avenue #606

San Diego


321 10th Avenue #606, San Diego

$ 379,000

736
1
1

Remember to check back for regular updates as we will always have a Downtown 92101 Market Update posted here every month.

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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May 23rd, 2014

Marina District Condo For Sale (Drone Video)

We just listed a condo for sale and wanted to share the aerial video we created using our new real estate drone. Please view video below and review the information about this particular condo for sale.

Marina District Condo for sale

Remember if you’re looking to sell a home in San Diego County please contact us for a free market analysis.

New Condo for sale in CityFront Terrace. This is the largest 1 bedroom condo in CityFront Terrace. Located on first floor with french doors leading to your private patio and easy access to the Marina District. This condo features 2 levels of open layout with lots of natural light from large first and second floor windows. If you’re looking for a building with amenities equal to a luxury Manhattan apartment, this is your opportunity to own that and more in CityFront Terrace. 24/7 concierge service, gym, pool, spa,library and luxury common areas.

MLS Information – MLS # 140024575

To search for homes in the CityFront Terrace development please visit the condos info page here.

To search for all homes & condos in the Downtown San Diego area please search for homes in the 92101 zip code where you can find other condos for sale.

Marina District Condo for sale.

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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April 12th, 2014

Home Mortgage Options for the Self-Employed

Mortgage Options for the Self-Employed

Ever wonder why there are not any home mortgage options for the self-employed? One of the many ironies of working in real estate is that real estate agents themselves often have a harder time being approved for a mortgage than the clients they represent! Self-employed individuals (such as real-estate agents) are generally not seen as the ideal borrower. They typically pay higher interest rates than someone who collects a regular paycheck from their employer. If an advertised mortgage rate seems too good to be true, it usually is. The best rates are applicable only for prime borrowers. Individuals with excellent credit scores and steady verifiable income source. Something many of the self-employed lack. But of course they never mention that in the ads.

As a self-employed individual you will often have to go the extra mile to find lenders willing to work with you. Reporting requirements are more stringent and lenders will look at your financial background with more scrutiny than they would a regular 9-to-5 employee with a steady income.

Mortgages Options for Self-Employed Individuals

Traditional FHA Loans – Most lenders these days will only offer traditional FHA loans to the self-employed on the basis of their tax returns for the last two years. Borrowers will have to fill out IRS Form 4506-T, authorizing lenders to request tax transcripts. Tax returns can only be received directly from the IRS and not the borrower and lenders will have to wait until the IRS has processed and recorded them.

A lender will look at the average of the borrower’s adjusted gross income for the last two years, unless the most recent year shows falling income, in which case the lower number will be used. The actual requirements (such as the debt-to-income ratio) to qualify for an FHA loan varies greatly depending on each borrower’s unique financial situation – this is something you really should discuss with a qualified mortgage broker or financial adviser.

Stated Income Loans – Before the housing market crash of the mid to late 2000’s, most banks would approve what was known as ‘stated income’ loans from most self-employed individuals. A stated income loan, as the name suggests, was where the mortgage lender would approve the loan on the basis of the borrower’s stated income, without verifying it against pay stubs, tax returns or other documents. Needless to say such loans were abused (by both borrowers and lenders) to such an extent during the housing boom, they came to be known as liar’s loans.

While stated income loans have been all but outlawed by federal legislation, some smaller lenders at the State level are offering their versions of stated income loans, albeit with more stringent requirements. For example, a lender might provide a stated income loan to a borrower who has a credit score of 720 or higher, can put a down payment of at least 30 percent or more and has at least six months of cash reserves at hand to cover all their monthly obligations beyond just the mortgage. Also it should be noted that the mortgage rates of stated income loans on the secondary market are not as competitive as those offered by traditional FHA loans.

No Documentation Loans / Alt-A Loans – Similar to stated income loans, these are loans given out in the secondary market where the lender will not seek to verify borrower income information. Since these are riskier loans than full documentation loans, the interest rates will be considerably higher. As with stated income loans, Alt-A loans have come under increased scrutiny in the wake of the housing market crash of the mid to late 2000’s.

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Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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April 3rd, 2014

Real Estate Ethics – Working Hard to Do the Right Thing

A short sale lead

Yesterday I received a call about a possible short sale, even better it was a referral from a past client. It always feels good when you receive a referral. In this case the referral was about a home that was $90,000 underwater and the owners wanted out. They wanted to short sale, and what was even better is that they informed me they already had a buyer lined up. Easy money, right?

All I would have to do is submit a request for a short sale, turn a blind eye to any outside offers that come in and introduce our pre-arranged “buyer” as the only person willing to make a serious offer on his home. Everyone is happy, I get to close a quick and easy transaction – one whose result has already been pre-determined – collect my commission and call it a day. What could be easier! Except if I were to go through with such a deal I would be committing fraud and jeopardizing my real estate license.

I politely informed the lead that short selling his home to a straw buyer is something I would not do. As difficult as banks are to deal with (and believe me, you don’t know the meaning of the word difficult until you have dealt with the servicing departments these banks use to process short sales), I as a Realtor have a responsibility to my client. In the case of a short sale, the bank is a party in the transaction because of the seller’s negative equity position in the home. I have to do my best to recover as much money as possible from the short sale. If I limit the home’s exposure on the MLS or turn a blind eye to legitimate offers on the property, I become guilty of defrauding the bank.

When I carefully explained all of this to the lead, the response was, “Oh………………. so can you short sale my home????” I clearly wasn’t getting through to them. So once again I replied, saying that while they will undoubtedly find a real estate agent willing to go along with their scheme, that agent would not be me. I ended our conversation by informing them if they wanted to enter into a short-sale listing agreement with me, they would have to prove to the bank that they’re in a genuine financial hardship, let me expose their listing to the whole world via the MLS and other avenues and grant me the freedom to entertain all offers.

They ended up taking their business elsewhere.

The above example shows the ethical and moral dilemmas we working Realtors face every day. There are many Realtors who are all too happy to accept such deals and pocket the money. What’s the harm, right?

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Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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March 24th, 2014

Carlsbad Home for Sale

New Carlsbad Home for Sale! Team Aguilar has just listed a gorgeous Carlsbad Home for Sale in the 92008 zip code. This custom Cape Cod style home has 3 Bedrooms and 2.5 baths. Custom upgrades include Slate floors, French doors, Milgard windows and Central A/C. This home is move-in ready. The added addition above the home is absolutely stunning and can be used as a bedroom, office, or perhaps even rented as the new owner see fit. Featuring a large back and front yard, this home is centrally located within walking distance to all three area schools — the elementary, middle, and high school – this home is ideal for anyone wanting to raise a family in one of the best school districts in California.  Close to everything one could desire in Southern California, this home sits one mile from the Beach and is very close to Downtown Carlsbad in addition to numerous parks, basketball courts, tennis courts and soccer fields. Very reasonably priced at $769,000, this home won’t be on the market long.

Contact Howard Blum or Fred Blum at 619-366-2000 for showings.

MLS # 140015363

 

Search Carlsbad Real Estate for sale HERE and remember to check back for other new listings. This Carlsbad Home for Sale sold within 30 days and is no longer on the market but contact us for more information on other new listings.

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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March 15th, 2014

Free March Madness Basketball Pool

Free March Madness Bracket ChallengeTeam Aguilar’s Free March Madness Basketball Pool is back! This is our 5th year and it sure seems to fly by!

Feel free to sign up here or just click on the March Madness image in the header of our homepage.

You won’t have a chance to win a million or a billion dollars but you may win a few bucks.

Top 3 players win $

1st = $100

2nd = $75

3rd = $50

Simple Scoring System
1 point for each correct pick in Round 1
2 points for each correct pick in Round 2
3 points for each correct pick in Round 3
4 points for each correct pick in Round 4
5 points for each correct pick in Round 5
6 points for the correct Champion

The March Madness Pool is 100% free and everyone is welcome. It will take you just a couple minutes to sign up, make your picks and lock your bracket. Note that the schedule will be updated Sunday evening after selection Sunday has completed.

Feel free invite your friends and message me with any questions.

 

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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March 7th, 2014

New San Elijo Hills Home

New San Elijo Hills home from Howard Blum. Just came on the market. Stunning home in San Elijo Hills just listed. Located at 1670 Milan, 92078, this luxurious home in an exclusive and family friendly gated community is perfect for entertaining and raising a family. Immaculately cared for by single occupant, this corner lot in the Azure neighborhood of San Elijo Hills could be just what your client is looking for. Complete with a large granite counter topped kitchen, Kitchenaid appliances including double oven, 4 bed/3 bath including full ground floor bathroom, spectacular Master Bedroom, 3 car garage (with the single garage converted to office, easily restored to original use) and ample storage space. Additionally, our listings corner lot with an added balcony complete with Ocean View will allow your clients to take in all that San Diego has to offer.

If you’re looking for a great home in a wonderful community San Elijo Hills may be the right community for you! In addition to wonderful homes like this one it’s a newer community with wonderful schools, local parks and great neighborhoods geared towards younger families. It’s in the Northern part of San Diego County but it may be one of the most affordable areas in North County if you’re looking for a home built in the last ten years this is the spot for you.

MLS#: 140001273
Listed between $815,000 – $835,000
Contact Howard Blum:
858-354-4551
HowardBlum1@gmail.com
Remember to check back for regular updates. We always seem to have a New San Elijo Hills Home coming on the market every couple months.
New San Elijo Hills Home

Alex Aguilar

is the owner of Team Aguilar real estate in San Diego and your source for everything related to the San Diego Real Estate market. Please subscribe to his updates on Facebook.

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Team Aguilar Offers Real Estate Services in San Diego and Imperial County California