Rancho Bernardo Homes - By Marilyn Hanes Coldwell Banker - Real Estate, Foreclosures, Shortsales, Houses, Condos

Mortgage Rates ultra low… experts say for short term real estate sales expected to stay strong.

Marilyn — Thu, 15 Oct 2009 21:46:35 +0000

Wow…. Rates are just WOW low right now. 30-year rates on real estate mortgages inched down to 4.81% this week, the lowest they’ve been in over 4 months (May saw 4.81% and March 4.61%). A year ago buyers were choking at rates in the mid-6% range…. And frankly, when my parents bought their home they gladly signed with an interest rate around 11%! The rate decrease is great news for my well qualified buyers that are actively looking to make a San Diego Condo or Home purchase. And the possibility of an extended federal tax credit for first time home buyers (current tax credit ends December 1), the market continues to look attractive. With the current reduced inventory, make a move on that home when you find it. First-time home buyers, if you open escrow in the next week or two you could close before the end of November, ensuring your eligibility for that tax credit.

RANCHO BERNARDO HOMES UPDATE

Marilyn — Wed, 15 Jul 2009 02:50:06 +0000

The San Diego real estate market is really hopping! Especially under $600,000. Investors are coming back into the market. Lots of first time homebuyers also. Interest rates are still at a historical low and they ticked up a little bit encouraging buyers to get off the fence and make offers on homes. As far as Rancho Bernardo homes, we are experiencing multiple offers on regular sales, short sales and foreclosures. Now is the time to get back in the market!

Open House Sunday…. 1-4pm

Marilyn — Fri, 26 Jun 2009 20:54:35 +0000

Open House at my BEAUTIFUL Solana Beach listing this Sunday!

1pm-4pm

This is an absolutely beautiful peice of coast San Diego Real Estate. Come by and view it for yourself.

Rancho Bernardo Real Estate - Quick Update

Marilyn — Tue, 09 Jun 2009 19:43:30 +0000

San Diego County housing is considered undervalued according to national economists.It is the fourth consecutive quarter that San Diego housing prices were below what is considered to be the normal price. Rancho Bernardo home sales demand has increased and inventory is decreasing in many price ranges. We are receiving multiple offers on short sales, foreclosures and typical “normal” sales that are priced right The median price for a single-family home was $327,300 in the first quarter. Based on hisotoric trends for household income, affordability and appreciation, the “normal” value should have been $415,300.

This information shows that it is a great time to buy real estate in Rancho Bernardo and all of San Diego County!

Back to Basics.

Marilyn — Mon, 08 Jun 2009 15:49:38 +0000

Remember the original idea of owning a home? It was the American Dream and a privilege to own the home you and your family lived in. It was not an easy achievement but there were many reasons to own a home. You do not pay rent, you avoid unplanned rent increases, have control on whether you need to move, how you want to improve the home and it is a tax incentive with the interest and property tax deduction. However, with the historical and cyclical escalating real estate market such as we had in the early 2000’s it became an investment, much like the stock market. It became so easy to be approved for loans and if you sold your investment in time you made money. If not, you may be in the same situation as so many people that I am working with right now. The percentage decrease in the market was not something that was planned by lenders or homeowners and almost EVERY real estate homeowner has been affected one way or another.

What I have seen though, is a return to the original principles where lenders are qualifying borrowers very strictly with full documentation and requiring a substantial amount of down payment. It is once again a privilege to own a home because it is more difficult to qualify but at the same time it is more affordable as the sales prices AND interest rates have come down to a lower monthly payment. Once again, it may be time to buy that starter home because it is less expensive than renting…back to basics. Buy a home, build up value and move up. Remember, you don’t buy your dream home the first time out-you build up to it. So the cycle begins…..again….

- Marilyn

California Dreamin’…. the Cycle Begins

Marilyn — Wed, 03 Jun 2009 21:38:13 +0000

Californians; We are a resilient group of Americans. Is it only Californians that have this gut level feeling that everything is going to turn around? Talking to people of many ages and backgrounds, this week, who have lived in California a really long time, there is this down deep, gut level feeling that the real estate cycle is spinning toward the upward direction. The reason they feel this is because they have experienced this cycle before in California.

Here is what I am seeing and hearing:

Multiple offers on “normal” sales, short sales and foreclosures
Less negotiation on distressed sales (indicating we are at market bottom)
Vacancy rates in apartments becoming higher due to those residents buying homes and moving out
Lots of all cash buyers who have been waiting on the sidelines
Current homeowners moving up as property tax basis is lower and interest rates are fantastic.
Foreclosure sales decreasing
Good news from real estate economists!

-Marilyn

Current Rancho Bernardo Home Sales Statistics

admin — Mon, 24 Nov 2008 22:43:23 +0000

Number of homes currently for sale Total = 12 Single Family Homes = 9 Condos And Townhouses = 3	Days on market Median = 63 Days Minimum = 13 Days Maximum = 240 Days
Price per square foot of house space Median = $294 Minimum = $207 Maximum = $346	Number of Bedrooms Median = 3 Minimum = 2 Maximum = 5
Price per square foot of lot size Median = $107 Minimum = $55 Maximum = $207	Number of Bathrooms Median = 2 Minimum = 2 Maximum = 4
List Price Median = $560,000 Minimum = $386,900 Maximum = $1,698,120	House Size (Square Footage) Median = 1,930 Minimum = 1,211 Maximum = 4,948
Cost Per Bedroom Median = $186,666 Minimum = $131,666 Maximum = $339,624	Garage Spaces Median = N/A Minimum = N/A Maximum = N/A