San Diego Countys Best Kept Secret, Valley Center

If you are thinking about selling your home and making a move to a different area.  You yearn for more open space, less people and some peace in your life – Valley Center might just be the place for you to buy a home. There are some so many wonderful homes for sale, and the prices are some of the best you will find in San Diego County. Fresh mountain air and stunning views which will knock your socks off are some of the perks of living in this glorious community. Only 35 miles to downtown San Diego make it very accessible to all amenities.

Another reason to move to Valley Center would be the school system offered. Three of the Valley Center schools have been recognised as California Distinguished Schools. VCPUSD students consistently score higher in the State tests than students of San Diego County and the State as a whole. Three of the schools have an API score of over 800. The schools are smaller than average size compared to others in San Diego County and offer a caring and supportive environment for the students.

Valley Center High School is a California Distinguished School, in its 10 year history, has proven its dedication to excellence in the classroom, on the athletic field, and in the performing arts. Its staff offer a professional learning community that is committed to all students achieving at high levels. Offering 10 Advanced placement courses for college credit along with the Maxine theatre, a state of the art performing arts facility located on the High School Campus featuring 577 seats, Steinway Grand Piano and a full theatrical fly.

Valley Center Middle School is dedicated to providing a rich educational environment that offers opportunites for all students to learn. Along with the focus on academic success, VCMS provides many opportunities for student enrichment that include: drama, chorus, computer technology, video production, craft and sewing projects, strings, agriculture, and a wide variety of after school sports.

Valley Center Elementary Schools create a safe, respectful and responsible environment  where students are inspired to achieve their individual potential and are recognized for their efforts.

Valley Center Primary School a distinguished California School, is an early childhood education where children learn and flourish in a caring and supportive environment. A deeply committed staff work collegially to provide a developmentally repsonsive curriculum for all children during their first years of school.

Valley Center Sunset

You will be pleased you have found San Diego Countys Best Kept Secret, Valley Center.

Content courtesy of VCPUSD.

TO VIEW HOMES FOR SALE IN VALLEY CENTER CALL PAM OR JOANNA:

PAM PARTON 760-580-1615                   JOANNA WOOLLEY 760-580-1630

6 reasons to reduce the price of your home

Has your home just been sitting on the market with no offers?

 That could happen for a number of reasons that are outside of your control. Like a unique home layout, or having one of the few homes in the neighborhood without a garage. However, there is one factor you can control: your home price.

These six signs maybe telling you it’s time to lower your price.

1. You’re drawing few lookers – you got the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports that there have been few buyers calling about and asking to view your home than there have been for other homes in your area, this might be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have received no offers – if you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling other agents about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes – Ask your realtor about the average number of days it takes to sell a home in your market.  Buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline – If you’ve got to sell your house soon because of a job transfer, or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is priced a little lower than comparable homes in your area. Remember its not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades – Maybe you’re out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competiton has changed – If weeks go by with no offers, continue to check the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you’ve listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

Content courtesy of Home Logic, Realtor.com.

CALL PAM AND JOANNA TODAY FOR MORE INFORMATION ON HOW WE WILL YOU SELL YOUR HOME.

PAM PARTON: 760-580-1615                              JOANNA WOOLLEY: 760-580-1630

14243 Ridge Oak Place, Valley Center, CA 92082

This home is one of a kind – you will see no other like it in Valley Center. This custom European design and unique decoration with magificent panoramic views will leave you breathless. Located in one of the most prestigous communities of Beautiful Valley Center, Ridge Ranch Estates.

Enter into the grand entry with 17ft soaring ceilings. An elegant and romantic master bedroom suite with fireplace and forever views leads into a oversize master bath with highly upgraded fixtures and fabulous Valentina tiles througout. Contemporary chefs kitchen with bosch appliances and flamboyant cabinets.

Contemporary Chefs Kitchen

3873 sq ft of absolute luxury on 4.73 acres is a home not to be missed – so come by and get a guided tour of this unforgettable masterpiece.

Priced @ $995,000 – $1,150,000.

FOR ALL OF YOUR REAL ESTATE NEEDS CALL

PAM AND JOANNA.

PAM PARTON: 760-580-1615

JOANNA: 760-580-1630

Guys – the statistics are out and they speak for themselves; women out-purchase us in the real estate market two-to-one!  National data for the year ending last June reveals that single women accounted for 21% of all home purchases, to 10% of purchases for single men. That may just be an eye-opener for many of us in the business.   Such a significant demographic group deserves to be both recognized and well-served by the real estate and financing industries.  Click on the link below to read an excellent article on this subject posted by Marilyn Kennedy Malia on Bankrate.com:

“4 Tips for Single, Female Homebuyers”

Paul Gonzales, Sales Manager, Countywide Mortgage (760) 746-7388 or paulforloans@aol.com

Home Buyers Tax Credits

Gov.Schwarznegger just yesterday signed Assembly Bill 183 which will provide 200 million for home buyer tax credits of which $100 million will be allocated for qualified first time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied homes.

The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec.31, 2010, or who purchases a qualified principal residence on and after Dec 31, 2010, and before Aug.1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010 will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under this bill, the purchasers will be required to live in the home for at least two years or repay the credit to the state.
 
Nearly 40 percent of first-time home buyers who have purchased a home said they would not have done so if the federal tax credit for first time home buyers had not been in place.

In turn the incentive for first time home buyers to purchase homes which have been abandoned, and foreclosed upon and returned to the lender, or have been sitting on the market for months will generate an increase in jobs connected to home improvement activity in the market place.

Content courtesy of C.A.R.

Call Pam and Joanna for the latest update on homes for sale in San Diego County.

PAM PARTON: 760-580-1615                JOANNA WOOLLEY: 760-580-1630

10 Tips to Take the Stress Out of Homebuying

Buying a home should be fun, not  stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1.Find a real estate agent who you can connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the Realtor you choose is both highly skilled and a good fit with your personality.

2. Remember, there’s no “right time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer – you risk losing out on the home of your dreams. The housing market usually does’nt change fast enough to make that much difference in price, and  a good home won’t stay on the market long.

3.Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it harder to make a decision. Focus on the wants and needs of your immediate family – the people who will be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be  a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home does’nt exist in a vacum. Don’t get caught up in the physical aspects of the house itself – room size, kitchen, etc. – that you forget about important issues such as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post -home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you love the property you purchased.

10. Choose  home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.

When you are ready to buy your home Pam and Joanna are here to help. We have also recently become certified as Senior Real Estate Specialists and Short Sales Specialists.

PAM PARTON: 760-580-1615                              JOANNA WOOLLEY: 760-580-1630

Valley Center Market Trends February thru Mid March 2010

Valley Center Real Estate Trends

Well lets take a look at how the market is shaping up since the beginning of the year when we looked at Valley Center in are article Valley Center 92082 Homes Sold January 2010.

As we compare the different catagories, we dont see a huge significant difference.   Appears the market is truly leveling off.

There are a few more active listings than there was in January, but that is expected as we go into the spring season.  This is still considered a shortage of inventory and buyers are asking for more properties to choose from.

The average price per square foot is still about the same, now at $165.73.   Very affordable!

Valley Center has so much to offer in the way of natural beauty and peaceful country living.  Many people think it is so far from everything but, you can be to the freeway and on your way either north, south, east or west in a matter of 20-30 minutes.

If you are looking for a great place to live and at an affordable price, take a closer look at Valley Center, you may be very pleasantly surprised!

For all of you Homebuyers and Homeowners out there who intend to get your home mortgage financing this year. The latest updates from the mortgage world are that interest fixed rates are expected to increase fairly soon.

At the present time Interest Rates have been kept artificially low and will soon begin their upward climb to around 6.5%. as the Feds return the mortgage market to private investors. This will reduce the loan amounts available.

So  Homebuyers don’t loose out on the great interest rates we have at the moment – give us a call today and we will help you find the home of your dreams!

PAM PARTON: 760-580-1615                    JOANNA WOOLLEY: 760-580-1630

This is the fourth and final post in a series that deals with important aspects of FHA financing.

• The first post provided an overview of the program.
• The second post detailed FHA credit requirements
• The third post discussed the income and employment requirements.
• This post will discuss the down payment and asset requirements necessary to obtain an FHA home loan.

Minimum Down Payment
In today’s challenging market, this is probably the most attractive feature of the FHA home loan – the minimal down payment requirement.  The minimum allowable down payment is 3.5% of the purchase price.  This benefit is enhanced further by the flexibility allowed for the source of those down payment funds, as discussed below:

Reserve Requirements
Reserves are funds that a buyer has “left over” after purchasing the home.  Most conventional home loans require enough reserve funds to cover at least two months of mortgage payments including property taxes, insurance, mortgage insurance and home owner’s association (HOA) dues if required.

FHA financing does not have a reserve requirement if purchasing a 1 or 2 family property (a 3 or 4 family property requires at least three months of reserve funds).

Acceptable Sources of Funds

• Borrower’s depository funds – Funds owned by the Borrower in bank accounts, stocks and bonds, Certificates of deposit, retirement accounts such as 401k plans
• Gift funds – Can come from a wide variety of sources, including family members, a close friend with established close ties to the borrower, an employer or labor union, charitable or non-profit organization, government agency or a public entity such as a city through a homebuyer’s assistance program. A couple important caveats: the gift funds must be thoroughly documented and provide a clear paper-trail. Depending upon the source of the gift funds, such documentation will include a detailed “gift letter”, copies of cancelled checks and bank withdrawal slips or evidence of bank wire transfer. There must be reasonable evidence that the qualified donor has the financial ability to give the gift. As of October 1st, 2008, funds from certain non-profit organizations which are matched by donations from the home seller can no longer be gifted to the buyer
• Sale of existing home – proceeds from the sale of an existing home may be used to purchase a new home with FHA financing
• Sale of personal property – the sale of a car or other personal property is acceptable as long as the funds can be paper-trailed to the sale
• Cash or “mattress money” – this requires a written explanation describing the source of the cash, how it was accumulated and how long it took to accumulate. Such cash accumulation must make sense for the borrower, such as not having a checking or savings account or credit accounts.
• Commission from sale of property – acceptable if the borrower/buyer is a licensed real estate agent and entitled to a commission from the sale

Mortgage Insurance
A lesser appreciated, but very vital benefit of FHA financing, has to do with mortgage insurance, or MI. Until recently, it was generally easy to avoid having to pay for mortgage insurance when purchasing a home with less than 20% down payment. This was accomplished by getting a second mortgage to “piggy back” with an 80% first mortgage. Thus a qualified buyer could buy a home with little or no money down by obtaining two mortgages. In the reality of today’s markets such second mortgages are all but non-existant or exorbitantly priced.

The only remaining option for a homebuyer with less than 20% for a down payment is to pay for mortgage insurance. In certain areas such as California and Florida, most companies that provide such insurance have limited the maximum coverage to 90% (or less) of the purchase price. In addition, they have tightened their underwriting guidelines and it is indeed more difficult to actually qualify for the insurance.

Enter the FHA home loan. It is generally considered easier to qualify for MI under the FHA and it will go to 96.5% of the purchase price. In short there is a significant portion of the home-buying population who have no other option than FHA financing just for these two reasons alone.

In a Nutshell…
FHA financing may not necessarily be the best fit for everyone in the home-buying market. However, these hallmark features of the FHA home loan – minimal down payment and reserve requirements, flexible sources of funds and availability of mortgage insurance – are far and away the primary reasons that many home buyers, particularly younger first-time home buyers, seek FHA financing. It’s clear to see why.

For more information contact Paul Gonzales, Manager, Countywide Mortgage Inc (760) 746-7388 or paulforloans@aol.com

Home Prices Rise

Home sale prices in Southern California showed new energy in January, bouncing 8.6% from the same month one year earlier — a period when the market was inundated with steeply discounted bank-owned properties.

 Compared with a very strong December, the median fell 6.1% to $271,500 in January, ending eight consecutive months of price appreciation or stability in the Southland, MDA DataQuick, a San Diego real estate research firm, quoted Tuesday.

The month-to-month decline was likely in part to the higher percentage of cheaper Inland Empire homes that sold in January compared with December as buyers in pricier areas stopped searching during the holidays and investors and first-time buyers made up a larger share of shoppers.

Results from the first two months of the year don’t always provide an indication of what will happen for the rest of the year.

 Many experts fear the market will suffer after the government ends programs which have helped the market on the road to recovery.

The Federal Reserve plans next month to end a $1.25-trillion program that has helped keep interest rates at rock-bottom levels by purchasing mortgage bonds from Fannie Mae and Freddie Mac.

The Federal Housing Administration, which has backed mortgages for many first-time buyers, is expected to tighten its lending rules later this year. An extended federal tax credit of up to $8,000 for first-time home buyers and up to $6,500 for some current homeowners will expire April 30.

Some analysts expect the market to get another boost as the tax incentive expiration nears. But as the federal measures unwind, the housing market will be burdened by high job losses and foreclosures.

“Beyond the spring, everything will depend on what is going to happen with those delinquencies. Are they going to turn into foreclosures or notices of default? And what are the banks going to do with them once they have them?” said Gerd-Ulf Krueger, principal economist at Housingecon.com. “There will be very significant pressure on the banks to behave reasonably . . . and then it is anybody’s guess what happens after the midterm election.”

Many real estate agents and experts are hoping for an early spring shopping season, given the tax credit and low interest rates, but say a lack of new foreclosures has slowed the sales pace. A total of 15,361 homes sold in Southern California in January, an increase of only 0.9% over the same month a year earlier when the market for lower-end, bank-owned properties began to take off, DataQuick said.

We are definitely noticing the lack of inventory out there for our buyers at this time. All the good deals are just being snapped up instantly by the investors.

Sales dropped 31.2% in January compared with December. A decline between those two months is normal; on average, sales have fallen 28.4% in that period every year since DataQuick statistics began.

The number of foreclosures as a percentage of the resale market ticked up slightly in January. Foreclosure resales made up 42.1% of all sales of previously owned homes in Southern California, up from 39.6% in December but down from 56.4% in January 2009.