Agents Of Possibility

San Diego Festival of Sail ~ September 2nd-6th

This Labor Day Weekend get down to San Diego Bay and enjoy The Festival of Sail. Beginning September 2nd through September 6th you will enjoy the annual parade of Tall Ships from all over the world!

Ships can be seen from Harbor Island, Seaport Village, Coronado Bridge and the Maritime Museum. Fun for the whole family! Take a Tall Ship Cannon Battle Ride or sail aboard an America's Cup boat around the Bay!

Festivities begin each day at 9:00 a.m. and end at 7:00 p.m. and 5:00 p.m. on Labor Day. Live entertainment from steel drum bands to contemporary rock will keep the party going as you enjoy over 150 arts and crafts vendors and a festival food court.

Stop by the Kids Zone where the kids can get up close and personal with a variety of animals in the petting zoo or meet the pirates from the pirate ships!

Don't forget to get your passport which will grant you entrance to a variety of different Tall Ships. Passports can be purchased at the Maritime Museum. As you visit each different Tall Ship your passport will be stamped with that ships stamp for a great memory of the tour! As an added bonus, your Passports will also allow for entrance to the Maritime Museum until December 31, 2010!

Don't miss out on theFestival of Sail and a Boatload of Fun! Happy Labor Day!

Dear Mr. & Mrs. Seller,

Thank you for allowing us the opportunity to view your wonderful home. We know what an inconvenience it can be when you are attempting to sell your home and so many people want to see it. The instructions in the MLS DO SAY to call you for an appointment. We appreciate you making the time to allow us to see your house on the third attempt. Perhaps you would like to set specific showing times with your agent to make it easier on you and easier to show.

I know how difficult it must be running a family and selling your house at the same time. Knowing that you have made an appointment, I do have some suggestions that may help you sell your home quicker:

• Please wash your dishes or shove them in the dishwasher, the kitchen is one of the biggest selling features of any home. A buyer will be distracted with dirty dishes on the counters and sink. Keep the kitchen clean.
• Walking over kids toys is a big distraction. Any chance grandma can house some of those toys while you attempt to sell your home? How about a toy box?
• Bathrooms are another big selling point for a home. Please make sure you have the towels picked up, clothes off the floor and toilets flushed. I know it sounds silly, but I am just saying.... 
• Pick up your bedrooms. I know, kids will be kids, but all my buyer can see is the XBox of the floor surrounded by soda cans, clothes, trash and I am not sure what else, but based on the measurements in the MLS, it is supposed to be a pretty big room.....It would be great if the clothes were put away in the Master as well
• Make the beds. My mom always made me make my bed every day.
• You have a lot of nice stuff. My buyers were unable to stop admiring your stunning family photos and knick knacks throughout the house. Too bad they missed the great view from the family room overlooking the valley. That really is one of your homes best features.
• I am sure Fido is the love of the family. He looks so cute in the back yard snarling and barking at the window. We really would have loved to see the great BBQ area, but Fido wasn't having it. Maybe next time he could go for a bye-bye ride!
• Pick up after your pets. The smell of animals, even if it is out in the yard, is a very big turn off.

There really are some great features of your home. It is unfortunate the potential buyers were so distracted to notice what a gem this house really is. Perhaps you want to ask your agent for some staging tips?

I really would love the opportunity to bring you a ready willing and able buyer Mr. & Mrs. Seller, but are you ready willing and able?

Full Price or Negotiate?

You have spent many long hours searching the Internet, driving neighborhoods, looking at property. You have had dreams about the day you find the home.

It seems there is no rhyme or reason to how home prices are calculated. You have seen homes that you think are worth way less than what they are asking and you have seen homes that appear to be a steal! How do people come up with these ridiculous prices?

Working with a REALTOR® that specifically represents you and your interest in buying a home makes the process easier. Together you have toured homes, drove neighborhoods and discussed the process.

You have found the one. You want the home. You can already picture your couch in the living room, the flat screen above the fireplace and your trusty dog at your feet. You want it so bad you can taste it. So you may as well offer full price, right? Wrong!

When getting ready to make an offer, one of the questions you have is should you offer full price or negotiate? There isn't an easy answer to this question. Your REALTOR® will be able to provide you with a detailed report of the most recent sales in the neighborhood. The last 90-120 days will give you a realistic idea of what home sale prices in the area are. Some of the things you will want to consider:

• Is the home in better or worse condition than the homes that have sold?
• Are there any other offers?
• How long has the property been on the market?
• Why is the property being sold; is it a short sale? a foreclosure? a traditional sale?
• Are you willing to walk away? What is the max amount you are willing to pay?

By taking a look at all of the factors that come into play when looking at determining an offer price you will be able to make an informed decision. Discuss the factors with your REALTOR®, determine your level of interest and be prepared to negotiate!

Understand different sellers and agents have different strategies. You may find the home is way over priced compared to the recent sales in the neighborhood. Why is that? Is there something this home has that others don't? Is the location better? Will the property appraise if sold at this price? Or you may find the property is listed well under what comparable sales have sold for. This is often a strategy to generate a lot of interest in a property and entice multiple offers. The end sales price may end up being higher than the list price!

Ask yourself if you can walk away. Making a super low ball offer to see if they counter may work, but if it doesn't, are you willing to walk away? Are you willing to go above the list price if the property has been priced below market value? By analyzing where you are willing to be, may help in determining your negotiating point.

So when it comes to determining if you are offering full price or going to negotiate, get the facts, make an educated decision and work with a REALTOR®.

Full Price or Negotiate?

You have spent many long hours searching the Internet, driving neighborhoods, looking at property. You have had dreams about the day you find the home.

It seems there is no rhyme or reason to how home prices are calculated. You have seen homes that you think are worth way less than what they are asking and you have seen homes that appear to be a steal! How do people come up with these ridiculous prices?

Working with a REALTOR® that specifically represents you and your interest in buying a home makes the process easier. Together you have toured homes, drove neighborhoods and discussed the process.

You have found the one. You want the home. You can already picture your couch in the living room, the flat screen above the fireplace and your trusty dog at your feet. You want it so bad you can taste it. So you may as well offer full price, right? Wrong!

When getting ready to make an offer, one of the questions you have is should you offer full price or negotiate? There isn't an easy answer to this question. Your REALTOR® will be able to provide you with a detailed report of the most recent sales in the neighborhood. The last 90-120 days will give you a realistic idea of what home sale prices in the area are. Some of the things you will want to consider:

• Is the home in better or worse condition than the homes that have sold?
• Are there any other offers?
• How long has the property been on the market?
• Why is the property being sold; is it a short sale? a foreclosure? a traditional sale?
• Are you willing to walk away? What is the max amount you are willing to pay?

By taking a look at all of the factors that come into play when looking at determining an offer price you will be able to make an informed decision. Discuss the factors with your REALTOR®, determine your level of interest and be prepared to negotiate!

Understand different sellers and agents have different strategies. You may find the home is way over priced compared to the recent sales in the neighborhood. Why is that? Is there something this home has that others don't? Is the location better? Will the property appraise if sold at this price? Or you may find the property is listed well under what comparable sales have sold for. This is often a strategy to generate a lot of interest in a property and entice multiple offers. The end sales price may end up being higher than the list price!

Ask yourself if you can walk away. Making a super low ball offer to see if they counter may work, but if it doesn't, are you willing to walk away? Are you willing to go above the list price if the property has been priced below market value? By analyzing where you are willing to be, may help in determining your negotiating point.

So when it comes to determining if you are offering full price or going to negotiate, get the facts, make an educated decision and work with a REALTOR®.

Should I Tell Them About....

When selling a home there are numerous forms that must be completed. From the listing agreement, the purchase contract and counter offers, disclosures, disclosures and more disclosures! It all may be a little overwhelming! You start through the pile and wish it was over! Half of the forms begin to look the same! But be aware of the forms you are completing!

One of the most important forms to be completed in the selling process is the Transfer Disclosure Statement. Also known as the TDS. This is the form where you share it all. From the good, the bad and the ugly. By completing this form honestly it is going to keep you out of hot water with the new home buyer and keep you out of court!

Should I tell them about the raccoon that likes to get in our garbage?

Should I tell them aboutthe neighbor that plays his drum set until all hours of the night?

Should I tell them about the planes that fly overhead in the middle of the night?

Should I tell them about when the tub overflowed and we had to replace the flooring in the bathroom?

Should I tell them about......

No matter what the question may be, the answer is yes. If you know about something that affects the property, even if it doesn't bother you or doesn't seem to be a big deal, tell them.

In order to protect yourself from any claim, be sure and complete the form truthfully. Your REALTOR®
should sit down with you and go over all of the forms. Take the most time with the TDS. Ask questions. Understand the importance of disclosure and how it affects you and the buyer.

The best rule in Real Estate is when in doubt, disclose! Yes, you should tell them about......

(Not So) Speechless Sunday ~ Lake Jennings ~ Lakeside CA

Located in San Diego's East County, Lake Jennings in Lakeside has something for everyone! This dam at Lake Jennings was constructed in 1964 to create a reservoir for the Lakeside residents. Lake Jennings covers an area of 85 surface miles and is home to some of San Diego's best Bass and Catfish!

The 100 acres surrounding Lake Jennings also provides some great camping, hiking and bird watching. The campground sits just above Lake Jennings with a great view of the lake. There are sites available for full hook-up RV's up to 35 feet, partial hook-ups for up to 25 feet and tent camping. You will find a playground, fish cleaning facilities, laundry and restrooms with hot showers within walking distance from any site. This is a great place for a weekend getaway!

Lake Jennings has opened for night fishing! Now open on Fridays 5 p.m to 12 a.m., Saturday 5:30 a.m. to 12 a.m. and Sunday 5:30 a.m. to 8:30 p.m. As home to one of the only locations in San Diego County which carries the Large Blue Catfish, the challenge will be to catch a big one! Pretty much any stink bait will work, since the lake is stocked with thousands of pounds of channel cat. There are reports every year of numerous cat caught weighing over 15lbs!

Fun for the kids and adults, Lake Jennings University offers free fishing classes Sunday afternoons at 1 p.m. You will learn what is working best for catching the different varieties of fish. The class will also cover how to rig. If you are interested in taking a Youth Group to Lake Jennings, the kids fish free!

Don't miss out on the wildlife at Lake Jennings either!Early morning and late evening, don't be surprised to see deer coming down for their drinks. Keep an eye out for bobcat, skunks, raccoon or coyotes as well! Lake Jennings is also one of San Diego's largest birdwatching points, recording over 475 different species of birds.

One of San Diego's hidden gems, Lake Jennings is located in Lakeside just off Interstate 8 at Lake Jennings Park Road. Make a right off the freeway and follow the signs!

East County Firefighters ~ Fill The Boot Campaign

East County residents will be helping local Firefighters this coming Thursday September 2 in the "Fill The Boot Campaign". The annual event is held by local Firefighters to raise money for MDA and Jerry's Kids.

The "Fill The Boot Campaign" kicks off the Labor Day weekend Muscular Dystrophy telethon. Over the years this campaign has raised millions of dollars to help fight this crippling disease. From funding vital research of the disease to financial aide to those families suffering with Muscular Distrophy for purchase of wheelchairs and other necessities.  

Muscular Dystrophy is defined by the National Institute of Neurological Disordersas follows: "The muscular dystrophies (MD) are a group of more than 30 genetic diseases characterized by progressive weakness and degeneration of the skeletal muscles that control movement." There currently is no cure for MD.

The "Fill The Boot Campaign" and Jerry Lewis' MDA Telethon raises funds that go directly to research, services and education. The worldwide research program of the MDA supports more than 330 different research projects. MDA also sponsors 80 week long summer camp sessions which serve more than 4,000 children annually.

So when you see that Firefighter donating his or her time to help raise funds this coming Thursday, be sure and do your part and "Fill the Boot!"

Kitchen's are one of the most expensive home remodel projects around. Perhaps your kitchen is in pretty good shape, but just needs some updating. Here are some fantastic tips to help update your kitchen and make it feel new again.

If you are considering selling your home, one of the most desired features to a buyer is the kitchen. Take some extra effort in making yours desirable! Brin in some inexpensive hardware or under cabinet lighting. It may just be the difference in selling or not selling your home! Bring it current!

CalPERS ~ Down Payment Assistance

Are you a California State Employee? County Employee? School or University Employee? California Legislature? Municipal Employee? Any one of these employers may or currently utilizes the CalPERS retirement system. What is CalPERS? CalPERS provides retirement and health benefits to more than 1.6 million public employees, retirees, and their families and more than 2,500 employers. In lieu of Social Security, many agencies participate in the CalPERS program as a benefit to their employees.

In addition to the retirement and health benefits offered by CalPERS, there is also a personal loan that is offered to members in order for them to purchase a home!

This Personal Loan can be used for down payment assistance only. The money borrowed is secured by ALL retirement funds in the system and will not be withdrawn from the members personal account. There will not be a lien against the property for the loan. Funds in the members retirement account is only used as collateral in case of default.

These funds are considered borrowers own funds and can be used to cover up to 5% of the down payment. This is a great option for financing with an FHA loan! The loan is considered as part of the borrowers debt to income ratio, but does not affect the LTV/CLTV of the property.

Maximum loan amounts are limited to the lesser of maximum of 5% of the purchase price, 50% of the members personal contribution to their retirement account or $18,421. Loan terms are from 1 to 15 years based on the amount of funds borrowed.

In addition to the benefit of being able to utilize funds from the retirement fund, closing costs are controlled, Mortgage Insurance is available at reduced rates, reduced escrow and title fees through Old Republic Title and Stewart Title!

This is a win win situation for First Time Home Buyers that do not have the money for a down payment! Ask your loan officer today if they are a certified to do CalPERS loans. If not, contact me for additional information on how they can become certified or to be referred to someone who is!

One of the many fine East County Golf Courses, you will find Barona Creek is challenging and rated #4 as one of the best California courses. Located in Lakeside off of Wildcat Canyon Road.

In addition to the fantastic golf, you will find much to do at the Barona Resort and Casino. From fun slots and table games, a luxurious hotel and a beautiful spa where you can forget all of your worries. You will find some fine dining and even a wedding chapel! Come to East County, spend the weekend!

Are You Speaking English? Understanding Acronyms and Financing Terms

We are going to calculate the DTI which will include the monthly PITI. You will need to provide the EMD to Escrow and wait for the COE. Seriously! Are we speaking English?One of the first things you will be doing in your new home search is getting pre-approved for a mortgage loan. While going through this process, you will come across financing terms that you may not be familiar with. Your understanding of these financing terms will help you make an educated decision on what the best loan for you will be. In addition, while speaking with your loan officer, it is important you understand the process. Understanding some of the financing terms will help make sense of all that is going on.

• Adjustable Rate Mortgage (ARM)~ This type of loan has an interest rate that will adjust after a pre-determined period of time. The time periods can range from 6 months to 10 years.

• Amortization ~ the way a loan is paid off, with regular payments over a specific period of time. Payments must be sufficient to cover both principal and interest.

• Annual Percentage Rate (APR)~ the actual interest you are paying which factors in fees, points and other costs paid for obtaining the loan

• Appraisal/Appraised Value ~ A report completed by a qualified professional that makes a complete market analysis of a properties surrounding area to determine a reasonable value for a home. Based on comparable properties that have recently sold.

• AUS/DU/LP~ Automated Underwriting System/Desktop Underwriter (FNMA)/Loan Prospector(FHLMC) Using completed loan application information, an automated underwriting systems retrieves relevant data, such as a borrower's credit history, income information, asset information and arrives at a logic-based loan decision.

• Buy Down ~ Money paid to "buy down" an interest rate. Interest rates may be permanently bought down by paying points or temporarily bought down 1 year, 2 years or 3 years. Example: interest may start at 3% for the first year, 4% for the second year 5% for the remaining life of the loan.

• Caps ~  Both payment and interest rate safeguards set in place for an ARM loan that will not allow a payment or interest rate to increase over a certain amount in a given time period.

• Certificate of Eligibility~ Document given to qualified Veterans that show their eligibility to use the benefit of a VA Home Loan.

• Closing ~The date written into your offer as when the escrow will be completed. Money will be transferred to the seller. Close of Escrow date. (COE)

• Closing Costs ~ Expenses over and above the purchase price of the property for lenders fees, appraisals, property taxes, escrow and title fees.

• Conventional Loan ~A mortgage loan that is not insured or guaranteed by a government entity. A loan that will meet guidelines set forth by FNMA (Fannie Mae) and FHLMC (Freddie Mac) (also known as a conforming loan)

• Credit Report ~A detailed report of all loans, credit cards, car payments and the payment history for each. Will include all current and closed accounts. Will also include any liens or judgments in public record.

• Credit Score~also known as FICO score. Based on the information in your credit report, it is a statistical summary of the payment history. It is a mathematical summary calculation that gives numerical values to information in the credit report. YOUR CREDIT SCORE IS AN IMPORTANT FACTOR IN OBTAINING A MORTGAGE LOAN

• Debt to Income Ratio (DTI)~ This figure is calculated by taking any long term monthly debt and dividing it into your gross monthly income to determine affordability.

• Deed of Trust ~ Document executed by the borrower evidencing the debt owed to a lender. This document is recorded with the County Recorder's Office and will be public record of the debt.

• Discount Points ~ Prepaid interest based on 1% of the loan amount for each point. Paying discount points will help lower the interest rate being negotiated.

• Earnest Money Deposit~(EMD) Money given by a buyer to a seller to bind the contract. This money is held by the Escrow Company and will be applied to down payment at the close of escrow.

• Escrow~ A third party intermediary who will hold and disburse funds in the transaction. The Escrow Company will assist in getting paperwork signed and arrange the recording of documents.

• FHA Loan ~ A mortgage loan insured by the Federal Housing Administration. FHA loans have their own underwriting guidelines that must be met, but may also be underwritten by an automated underwriting system.

• Fixed Rate Mortgage ~ (FRM) A mortgage loan where the interest rate will remain consistent throughout the life of the loan.

• Good Faith Estimate ~ (GFE) Good Faith Estimate. This form is provided to explain the terms and costs of your mortgage loan.

• Impound Account ~ (AKA Escrow Account) An account set up for the buyer by the lender to collect monthly payments that will cover property taxes and insurance. The lender will pay these installments when they come due.

• Jumbo Loan~ A mortgage loan that is higher than the conforming loan limits that are set by Fannie Mae and Freddie Mac

• Loan Origination Fee ~a percentage of the loan amount charged by the lender to originate the mortgage loan.

• Loan to Value (LTV) ~ Based on the appraised value of the home, the amount of money borrowed. Example: A loan with 20% down payment would equal an 80% Loan to Value ratio.

• Lock or Rate Lock ~ An opportunity to lock in a certain interest rate for a period of time. Usually between 12 and 45 days.

• Mortgage Insurance, PMI or MIP~ insurance to protect the lender in the event of default required on any loan with less than 20% down. Please see a more detailed explanation in my post on What is PMI

• Note~ A written promise to pay back money borrowed from the lender. This will include the terms of the loan, interest rate, payment dates, lender and borrower.

• PITI~ abbreviation for describing a total monthly mortgage payment that includes Principal, Interest, Taxes and Insurance.

• Prepayment Penalty~ A penalty charged by the lender for paying off or paying down a loan prior to a specified date. Not as common today as in the past. It is important to ask if your loan has a prepayment penalty.

• RESPA (Real Estate Settlement Procedures Act)~ The requirement for lenders to provide detailed information to the borrower in advance of what closing costs are to consist of.

• Title Insurance~ An insurance policy issued by a Title Company that may cover the lender and the buyer in the event of unfound claims against the property.

• Truth In Lending (Reg Z) ~ Federal law requiring the lender disclose the annual percentage rate (APR) to the buyer.

• Underwriting~ A decision made to lend or not to lend money based on information provided by the borrower regarding income, employment, assets and liability. The property will also be considered in the underwriting decision. Condition and loan to value will be evaluated.

• VA Loan~ A loan guaranteed by the Veterans Administration available to qualified veterans. May require no money down.

This is a short list of financing terms that will at least help you more fully understand the basics of the loan process and some of the forms that will accompany your process. Be sure to ask questions on anything you do not understand, continue to ask until you do. We are so used to talking to people in our industry on a daily basis that often times the terms and phrases that are used are just assumed to be known to the lay person. You should feel comfortable throughout the process you know what is going on. Surprisingly, we are speaking English! Now you should understand a little more about the acronyms used in financing terms!

For information on choosing a lender, please see my post on the Importance of a Good Lender. Happy House Hunting!

Do you text or tweet or update your FB status while you drive? Maybe you should give that bad habit a second thought.

If you are thinking abuout selling your home, this is really worth the read. Over pricing a home will only prolong the process. It will cause many buyers to look elsewhere that could be potential new homeowners of your wonderful home. Working with a REALTOR that understands your market and can provide you with the comparable sales in your neighborhood will help you sell your home quicker and for what it is worth!