The world of celebrities and real estate frequently intersect – stars buying million dollar homes and stars losing million dollar homes have been tabloid fodder for decades. For a change of pace let’s look at real estate agents who are celebrities in their own right, not REALTORS® to the stars (plenty of them around) but agents working in the field who are (or were) famous for one thing or the other. Keep in mind we use “celebrity” in the loosest sense of the word.

1. ‘Old Man’ off Pawn Stars

Star of Pawn Stars, the hit History reality TV show, Richard Harrison (better known as ‘Old Man’) had a long and storied career before finding success in the cutthroat world of Las Vegas pawn-brokers. Before reality TV stardom and the bright lights of Las Vegas, ‘Old Man’ Harrison spent 21 years in the US Navy. He and his family were based in San Diego for most of those 21 years, where Harrison’s wife JoAnne obtained her REALTORS license and opened a San Diego real estate office in 1973. After he left the navy in the late 70′s Harrison helped run his wife’s San Diego real estate business for a number of years, until 18 percent interest rates in 1981 almost drove them to bankruptcy. The couple was forced to close up their San Diego real estate office and make the move to Las Vegas with less than $5000 to their name. Soon after the move ‘Old Man’ Harrison opened his first store, a tiny 300 square-foot Gold & Silver Coin Shop and the rest, as they say, is history.

2. Sharona off The Knack’s hit, My Sharona

Sharona Alperin met The Knack’s lead singer Doug Fieger when she was 17 and a four year relationship ensued. His time with her inspired Fieger to write the band’s one and only hit, ‘My Sharona.’ Today, Alperin is a REALTOR for Sotheby’s International Realty, selling high-end real estate in West LA. Even though Alperin has been a successful real estate agent for more than 20 years she does not back away from her place in rock history, as anyone visiting her homepage will see.

3. Gay Swedish porn star turned real estate superstar, Fredrik Eklund

Fredrik Eklund left his native Sweden in 2001 and arrived in California where he starred in six gay pornographic films for the next two years. Eklund then made the move to New York where in a short amount of time he went from having zero clients and no real estate experience to becoming the managing director of Core Group Marketing, a boutique real estate firm where he handled a $58 million portfolio in 2010. Eklund is currently the managing director of Douglas Elliman Real Estate in Manhattan with “more than 1.5 billion dollars in residential sales over the last 11 years” according to his online profile.

Son of a prominent public figure (noted Swedish economist Klas Eklund), Mr. Eklund’s colorful past has made him something of a minor celebrity in his native Sweden. Now, with his Bravo real-estate themed reality show entering its second season, Eklund is well on his way to becoming a minor-celebrity here in America.

Celebrity REALTORS

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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The latest report from real estate tracker DataQuick paints a sunny picture for San Diego Real Estate in 2013. January’s figures show mortgage default rates in San Diego County at their lowest levels since mid-2005, and foreclosures at a six year low.

Impact of the Homeowner Bill of Rights
A big reason for these declines is the of the Homeowner Bill of Rights, a comprehensive update to California’s mortgage regulations championed by Attorney General Kamala Harris and signed into law by Governor Jerry Brown. The bill includes provisions to stop dual tracking (a controversial procedure where banks went ahead with foreclosure against struggling homeowners in the middle of a short sale or loan modification procedure), stop robo-signing foreclosure documents and to streamlining loan modification applications to make it easier for borrowers.

Despite strenuous objections from industry groups like the California Mortgage Association, California Bankers Association and California Mortgage Bankers Association, the Homeowner Bill of Rights became law on January 1st and had an immediate effect on lowering foreclosures and mortgage defaults, although the jury is still out on long-term ramifications.

Short Sales Popular as Ever
Short sales, where the lender approves the sale of a property for lower-than-market-price and forgives the remainder of the debt, made up 25.9% of all homes sold in Southern California. San Diego short sales remain as popular as ever, as it gives borrowers the opportunity the chance to get back into solvency with minimum impact to their credit ratings, and lenders the chance of avoiding a messy, lengthy and expensive foreclosure.

A large part of the rise in popularity of short sales in recent months is due to the $25 billion joint state-federal settlement reached with the nation’s largest mortgage companies in February 2012. The settlement is meant to help homeowners struggling in the aftermath of the housing-collapse, and the majority of that help is coming in the form of short sales. Now is as good a time as any to get approved for a short sale, seeing as the nation’s largest mortgage servicers are obliged to help.

Tight Inventory, Seller’s Market
San Diego real estate’s lack of inventory has led to a steady increase in prices towards the end of December. The lack of inventory and rising prices have created the perfect conditions for a seller’s market in January, and many homeowners decided to sell their properties to take advantage of this sudden-price hike.

This increase in sales is reflected in January’s figures, which show a six year high in the number of homes sold for that month. Experts are already questioning whether this sudden price hike is sustainable, and if it could encourage short-term property speculators.

Cash is King!
34.9 percent of all homes sold in January were paid for in cash. Buyers are paying with cash in record numbers in San Diego and other real estate markets in Southern California. Jumbo loans, i.e. mortgages above $417,000, accounted for 21.6 percent of January’s home lending, adjustable-rate mortgages (ARMs) made up 5.8 percent while government-insured FHA loans, popular with first-time buyers, accounted for 23.5 percent of home financing options for the month of January.

Think market conditions are ripe for investing? Check out our San Diego real estate listings and contact Carlos or Alex today.

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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Now that enough time has elapsed since the 2012 Presidential Elections, let’s take a look at what Mitt Romney has been up to since his defeat. While his running mate Paul Ryan featured prominently during the ongoing fiscal-cliff negotiations, Mitt Romney has kept a low profile after his concession speech at the Boston Convention Center in the early hours of November 7, 2012.

There were reports of Romney leaving the convention center immediately after his concession speech in a single vehicle driven by his oldest son, Tagg – a far cry from the 15 car Secret-Service escorted motorcade he arrived in.

After a grueling 18 month election campaign that saw Mitt Romney travel all over the country in search of votes, he quietly stepped out of the spotlight once it became clear his life-long ambitions of becoming president were well and truly dead.

So where did Mitt Romney end up after all the glitz and glamor of a billion dollar presidential campaign? Not Michigan, where he grew up. Not Massachusetts, where he spent most of his adult life, ruled as governor and maintains his official residence. And not New Hampshire, where Mitt and his wife own an 11 acre, $10 million lake-front property. In the end Romney decided to spend his post-campaign life in California – namely at his beachfront mansion in La Jolla, San Diego. Regular readers will know that I’ve blogged about Romney’s La Jolla beachfront property before, and discussed his attempts to lower its property taxes as well as his difficulty in getting permits to renovate it.

Romney and members of his extended family have been spotted all over the upscale San Diego neighborhood of La Jolla. To date, Romney has been photographed shopping at the La Jolla Costco; blurry cell phone photos have emerged of Romney and his wife Anne at a Saturday night showing of the latest Twilight (yes, Twilight!) film at a Del Mar cinema; and an aspiring Redditor snapped a photo of a tired looking Romney pumping gas at a La Jolla San Diego station.

Other random places where post-election Mitt Romney has popped up: ring-side at the Manny Pacquiao vs. Juan Marquez fight in Las Vegas; The Happiest Place on Earth (which, unsurprisingly, is in California); eating pizza in Salt Lake City; and buying Cheerios at a CVS.

By all accounts Romney has been cheerful and gracious when out and about in publix, even agreeing to pose for photographs public on occasion.

Although no one should begrudge Mitt Romney enjoying some time away from the limelight in a beautiful La Jolla neighborhood with incredible views of the sea – it is a little ironic considering what Mitt Romney had to say about California during the campaign. In September, 2012, on a fundraiser stop in San Diego, Romney commented that he did not agree with the path California has taken, and did not want to see the rest of the US resemble the Golden State. The entire quote and the context in which it was said can be found here.

None the less, San Diegans should be flattered that Mitt Romney chose our city and our State out of all his other houses in all the other States. Presidential Candidate Romney may not want the rest of the country to turn into California, but private citizen Romney certainly wasted no time in picking San Diego, California as his #1 choice for place to live!

Want to be Mitt’s new neighbor? Check out Team Aguilar’s La Jolla section!

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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This interactive map from UT San Diego shows a breakdown of how each neighborhood voted in the 2012 general elections

Presidential Race

Mayoral Race

At first glance is seems that the more built-up downtown areas are in favor of Obama while the suburbs and rural communities away from the downtown core going for Romney – with the exceptions being Coronado, La Jolla and Chula Vista.

This election has also highlighted the north-south divide that has always been present in San Diego politics. While the presidential race did not reflect this as much, the mayoral race was striking in the way the vote was split almost evenly across either side of Interstate 8.

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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The news media and political blogs have been fascinated with Mitt Romney’s La Jolla beach-front property. The home’s enormous price tag, acrimony from  his neighbors and a detailed look into Mitt’s repeated attempts to get tax cuts on the 12 million dollar property have all fanned the flames of controversy. Now that this issue is largely passed out of the news cycle, let’s look beyond the headlines and opinion-pieces and focus on the facts behind the hoopla about Mitt Romney’s La Jolla mansion.

How Ann and Mitt Romney Saved $109,000 in San Diego Property Taxes

Mitt Romney paid $12 million for the three-bedroom Spanish-style La Jolla villa in 2008. The beachfront property has open views of the ocean and sits at the end of a quiet on a one-way street. Former residents include first woman mayor of San Diego, Maureen O’Connor, and actor/activist Richard Gere.

The Romneys paid cash for the house and immediately applied for property tax relief. Real estate attorneys hired by Mitt Romney waged a months-long campaign with the San Diego County tax assessors’ office to reduce the annual property tax bill.

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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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By now you’ve all heard about the debacle that was San Diego’s 4th of July fireworks show last night. Thousands assembled in prime viewing spots for hours in advance, some even booked hotel rooms overlooking the bay. We were all eagerly awaiting the 20 minute fireworks extravaganza over the bay, a proud annual tradition here in San Diego.

What we got instead was a massive explosion that started 5 minutes early and fizzled out in just 20 seconds. By 9:20pm radio announcements were telling all the confused spectators that the show had been canceled.

Port District authorities blame it on a “technical difficulty” that caused all the fireworks to go off at once. Investigations are ongoing and I’m sure we’ll get a more thorough explanation of what went wrong in the days to come. Pretty disappointing, all things considered.

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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Happy fourth of July to everyone from Team Aguilar! Here’s a list of venues with Independence Day fireworks in and around San Diego. Keep in mind these are compiled from sources over the Internet and each event is subject to change or even cancellation. Contact details are provided for each venue – be sure to call ahead before making the drive out. All events are free-admission unless otherwise stated. Stay safe and have a great fourth of July everyone!

List of 4th of July Fireworks in San Diego County

San Diego Bay

Big Bay Boom

Fireworks start at 9pm

Billed as the “greatest fireworks show in the west,” the Big Bay Boom attracts up to half a million people each year. Five designated locations to watch the fireworks from:

Shelter Island (Free shuttle service available)
Harbor Island (Free shuttle service available)
Embarcadero
Seaport Village/Coronado Landing
Plus Imperial Beach Pier

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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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Forecasting where the real estate market will go in 2012 is no easy task, but that didn’t stop analysts at the country’s top investment banks and financial institutions from putting forth their best guesses in their end-of-year reports.

The ongoing recession, the upcoming presidential race and a looming economic crisis in Europe all paint a pessimistic picture for real estate in 2012 – but there is reason to be hopeful in the new year, according to analysts. While a complete recovery of real estate markets nationwide is certainly a long way off, there are some positive indicators.

Here are six things to look out for in 2012:

1. Rise of Rental Properties

Even the most casual observer will have noticed the boom in rental properties in 2011, a trend that is set to continue in 2012. A study from Reis Inc. shows a sharp drop of vacancy rates in the third quarter of 2011 to a nationwide average of just 5.6%. The same study also highlights a 3.6% increase in rents over 2011.

Property developers were not unmindful of the demand for rental properties. Rental unit construction was up 33% nationwide in the third quarter of 2011 – 48 million new units. The high demand in rental properties will inevitably drive up home prices in 2012 as investors look to snap up rental properties and homeowners look to become landlords.

With real estate prices still low in many markets around the country, 2012 is shaping up to be a great year for buying and holding rental properties.

2. The Rise of Shadow Inventory and Its Effect on Home Prices

The specter of shadow inventory looms large in 2012, bringing with it the threat of depressed property values and increased underwater mortgages. Shadow inventory is comprised of properties undergoing foreclosure, properties that have already been foreclosed but not put up for sale, and houses where the borrowers are unable to maintain their monthly mortgage payments. This glut of unsold and foreclosed properties will have the unfortunate effect of reducing property values in affected areas and suppressing buyer demand.

3. Increasing Short Sales

Most analysts agree that home prices are set to decline in the first half of 2012. Falling prices will force more homeowners into a position of negative equity (where they end up owing more than their homes are worth) – which in turn can trigger them to strategically default on their mortgage obligations.

To prevent borrowers from walking away from their debt obligations banks are expected to encourage short sales for homeowners with negative equity. Expect banks and other lending institutions to aggressively pursue short sales in 2012.

4. Fallout from Europe

The ongoing European financial crisis will have a huge effect on not only the real estate sector, but the US economy as a whole. The economic fates of Europe and the United States are closely intertwined – US exports to Europe total around two trillion Dollars a year. A financial collapse in Europe will have dire consequences for US companies at home and abroad. A Europe-wide recession and the ensuing lack of demand for US goods would cause many companies to reduce their operations at home leading to shrinking demand for offices and industrial spaces – a disastrous outcome for the already weak commercial real estate market.

5. Unemployment

The national unemployment rate will have a significant impact on the real estate market in the coming year. Although the national unemployment rate will remain higher than average, experts predict a gradual improvement in 2012. The numbers are encouraging – December saw the rate drop to 8.5 percent, a three-year low, demonstrating that the job market is gaining momentum. Analysts predict the rate will drop even further to 7.5% in the new year. This is encouraging news for real estate markets – moderate economic growth will result in increased demand for both residential and commercial real estate. Improving local job markets will have a knock on effect improving local housing markets, starting first with rental units and spilling into home sales.

6. Commercial Real Estate Woes

2011 was not a good year for commercial real estate. Tight credit markets and a sluggish economy meant there was little incentive for companies to expand their operations, resulting in lower demand for industrial, retail and commercial properties.

It’s not all bad news for commercial real estate in 2012, however. Steve Hentschel, head of Real Estate Banking at Gleacher & Co. indicates “there will be a continued emphasis on major market 24/7 cities that have global appeal.” Cities that are major business and transportation hubs (New York, Atlanta, San Diego, Chicago, etc.) should see positive growth in the commercial real estate sector in 2012.

Things are Looking Good for San Diego Real Estate!

While there’s still a long way to go before a complete recovery, things are looking much brighter closer to home. According to the Emerging Trends in Real Estate 2012 Forecast conducted by PricewaterhouseCoopers and the Urban Land Institute, San Diego is ranked as one of the top ten “real estate markets to watch in 2012.” According to the report, “San Diego benefits from the near-perfect year-round weather, which helps attract talent pools to local biotech companies, as well as a steady stream of upscale retirees.”

Regardless of the overall market trends in 2012, you can always rely on the experienced agents at Team Aguilar with all your real estate needs. Call Carlos or myself today and find out how we can help you!

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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As the Holiday Season is upon us, we find ourselves reflecting on the past year and on those who have helped to shape our business in a most significant way. We value our relationship with you and look forward to working with you in the year to come. We wish you and your family a very happy Holiday Season and a New Year filled with peace and prosperity.

All the best to you and your family,

Carlos & Alex Aguilar
www.TeamAguilar.com

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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It’s hard to believe that the time has come and Downtown San Diego will be flooded with Comic-Con enthusiasts this Thursday to Sunday. As you know I often talk about events and activities outside of real estate and this is one of those times. Do you know the history of Comic-Con?

The significance of Comic-Con should not be taken lightly and although I personally have never attended (I KNOW, I KNOW, LIVED IN SAN DIEGO MY WHOLE LIFE!!!) I think it’s a great event for San Diego. Late last year the convention voted to continue to have Comic-Con in San Diego through 2015. There have been talks about moving it to a larger venue which I hope never happens. Lets keep it in San Diego, I love getting ready to drive to work and leaving the downtown area only to see Superman, Spider-Man and Batman dressed up and ready to attend the convention. It’s great!

Sometimes Erika & I will go out that Friday or Saturday night just to see if we can find Luke Skywalker sitting at a bar somewhere ordering another round.

Did you know that Comic-Con has been in San Diego since 1970?

Here are a few other items you may not know,

- Did you know the 1st Comic-Con convention was held at the US Grant Hotel March 21, 1970? The attendance was 145 people. What a beautiful hotel but there is no way it could handle 130,000+ people who are expected this year.

- The US Grant held the convention 4 times, 1970, 1971, 1979, 1980.

- Did you know the El Cortez Hotel hosted the convention in 1972. For those of you that are not familiar with Downtown San Diego, the El Cortez building was built in 1926 and was one of the most prestigious and for many years the tallest buildings in San Diego. Today it is one of San Diego’s historic buildings. It has been very well maintained and converted into private condominiums.

- July 1991 was the first year the convention was held at the San Diego Convention Center and it has remained there through today. The attendance in 1991 was 15,000 people and this weekend they are expecting over 130,000 people to attend.

- The convention has become so large they now use Petco Park located across the street from the convention center to help accommodate some of the exhibits.

- Shel Dorf created Comic-Con, originally from Detroit, he helped organize the “Detroit Triple Fan Fair” which is considered to be the first convention for Comic Books. He later moved to San Diego and started Comic-Con in 1970.

Everything you need to know about Comic-Con 2011 can be found here.

If your planning on attending, here are some tips I have heard many of my friends suggest.

1. Sleep, get sleep because the days can be very long.

2. Plan out your route in advance so you can navigate the crowds.

3. Take cash! I have heard the ATM’s are a nightmare.

4. Load up on water and vitamins, take a backpack with snacks.

5. Keep your cell phones charged, getting lost is easy.

6. Arrive early and give youself time. Parking is going to be a pain.

7. Lastly, have fun!!!

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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