Archive for July, 2007
San Marcos to Build New Downtown
July 25th, 2007 Categories: Real Estate News, San Marcos
by: Eve Sieminski
On Tuesday evening, July 24, 2007, the San Marcos City Council agreed to move forward with the long-awaited San Marcos Creek Specific Plan, which when implemented will provide this fine city with one of the finest downtown areas in the country. With 217 acres included in the plan, there will be numerous parks, and multi-use buildings that will house commercial ventures, stores and offices on the lower levels, and personal residences above. One of the key goals in this San Marcos Creekside project will be to encourage and celebrate pedestrian traffic. There will be wide paseos (think Santa Barbara) and bike trails throughout. Traffic calming will be accomplished via roundabouts, alleys (which will also reduce curb cuts on the streets) and a multitude of parking garages.
Additionally, the City of San Marcos is considering the offer of free shuttles to move people around the new neighborhoods and streets–and possibly even to and from Cal State San Marcos. The focal point for San Marcos’ Creekside development will be San Marcos Creek, which runs at the far north end of the proposed project. The creek and the land around it are currently in the 100-year flood plain. These potential flood issues will be addressed with new drainage culverts to be placed under the nearby freeway, as well as the construction of levees around San Marcos Creek. The additional issue of silt runoff into Lake San Marcos will be corrected with the construction of check dams which will collect accumulated silt.
One of the key goals in the San Marcos Creek Specific Plan is to create both physical and symbolic links to the creek for which it is named. In addition to parks around San Marcos Creek, there will be numerous water features and fountains placed throughout this new downtown area. The scope of this San Marcos downtown project is quite large. There are projected to be 1.265 million square feet of retail space, 590,000 square feet dedicated to office space, and 2300 dwelling units–most of which will be high-density living. Building heights will range from two to six stories and 43 percent of the land will be dedicated to parks and enhanced open space. The idea of being able to live, work, dine, shop and play within a beautiful and walkable community sounds like a European ideal. How much better that it will be in the center our very own San Marcos, just off San Marcos Boulevard, across the street from Restaurant Row and the Stadium Theaters. It will be bordered by the Lake San Marcos Golf Course to the west, and Bent Avenue to the east. More reports to follow!
For additional information about San Marcos and San Marcos real estate, please give me a call at 760-518-2264.
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Fun at San Diego Farmer’s Markets
July 24th, 2007 Categories: Oceanside
For those in search of fresh produce, flowers, honey and other edible goodies, nothing beats an open air farmer’s market.
Numerous farmer’s markets can be found throughout the San Diego metropolitan area–six days per week. Most are established venues, but are subject to change in location, hours and season. If you are driving any distance, you may want to call to make sure the market will be open at your planned time of visit.
Alternatively, you may wish to verify the information via the San Diego Farm Bureau site .
For weekend shoppers:
Saturday
Clairemont Market and Bazaar: 3 - 6:30 p.m. 6991 Balboa Ave at Lindbergh-Schweitzer Elementary School. Mgr: David Robert (619) 602-3644.
Pacific Beach: 8 a.m.-noon, Mission Boulevard between Reed Avenue and Pacific Beach Boulevard at the Promenade Mall. Mgr: Mary Hillebrecht (760) 741-3763.
Scripps Ranch: 9 a.m. - 1 p.m., Ellen Browning Elementary School, 10380 Spring Canyon Rd. Mgr: Bev & Mike Cassidy (858) 586-7933.
South Park: 8:30 a.m.-12:30 p.m., corner of 30th and A Streets, Albert Einstein Academy playground, Mgr: Darcy Young (858) 405-6086.
Poway: 8 a.m. - noon, corner of Midland Road and Temple Street at Old Poway Park. Mgr: Suzanne Bendixen (619) 440-5027
Del Mar: 1-4 p.m., corner of El Camino Del Mar and 10th Street at the City Hall parking lot. Mgr: Alan Usery (760) 727-1471.
Carlsbad: 8 a.m. to noon, on Roosevelt between Grand Ave and Carlsbad Village Drive. Mgr: Christy Johnson (760) 434-2553 .
Vista: 7:45 a.m. - 11 a.m., corner of Eucalyptus and Escondido Avenues at the City Hall parking lot. Mgr: Margo Baughman (760) 726-8545.
Temecula: 8 a.m.-12:30 p.m., in Olde Town Temecula at 6th and Front Street. Mgr: Gayle Cunningham (760) 728-7343.
Carlsbad: 8 a.m. to noon Roosevelt St between Grand Ave and Carlsbad Village Dr. Mgr: Christy Johnson (760) 434-2553
South Park: 8:30 a.m. to 12:30 p.m. at Corner of 30th and A Streets, Albert Einstein Academy playground, Mgr: Darcy Young (858) 405-6086.
University City: - 2:30 to 6:30 p.m. Spreckels Elementary School, 6033 Stadium Street, San Diego 92122, Mgr: Mike Echavarry (619) 729-4333
Sunday
Hillcrest: 9 a.m. - 1 p.m. at the corner of Normal and Cleveland streets (DMV parking lot). Mgr: David Larson (619) 237-1632.
Solana Beach: 2 - 5 p.m., 410 - 444 S. Cedros Ave at Rosa St. Mgr: Barry Koral (760) 631-0200 or (760) 455-1261.
La Jolla: 9 a.m. - 1 p.m., Girard Avenue at Genter Street (La Jolla Elementary School). Mgr: Darcy Young (858) 405-6086.
Downtown Third Avenue Market and Asian Bazaar: 9 a.m. to 1 p.m., 400 block of Third Avenue between Island Ave and J Street. Mgr: David Klaman (619) 279-0032.
Leucadia/Encinitas: 10 a.m. to 2 p.m. Paul Ecke Elementary School, at Union and Vulcan Streets. Mgr: Ron La Chance (858) 272-7054.
TUESDAY
Coronado: 2:30-6 p.m. corner of First and B streets (Old Ferry Landing). Mgr: Mary Hillebrecht (760) 741-3763.
Escondido: 2:30-6 p.m. Grand Ave. between Broadway and Kalmia Streets. Mgr: Debra Rosen (760) 745-8877.
UCSD/La Jolla: 10 a.m. - 2 p.m. UCSD Certified Farmers Market at the Price Center, near the bookstore, Lyman Lane, and Library Walk. Mgrs: Bonnie Harmon and Christine Woolery (858) 534-4248.
WEDNESDAY
Carlsbad: 2-5 p.m. on Roosevelt Street between Grand Avenue and Carlsbad Village Drive. Mgr: Christy Johnson (760) 434-2553 Cell (760) 687-6453.
Ocean Beach: 4-7 p.m. (closes an hour later during summer months) 4900 block of Newport Avenue. Mgr: David Klaman (619) 279-0032.
Temecula: 9 a.m.-1 p.m. Promenade Mall across from Edwards Temecula Stadium 15 Theaters. Mgr: Gayle Cunningham (760) 728-7343.
THURSDAY
Oceanside: 9 a.m.-12:30 p.m. Pier View Way at Coast Highway. Mgr: Suzanne Bendixen (619) 440-5027.
Chula Vista: 3-7 p.m. (closes an hour earlier in winter) Third Avenue at Center Street. Mgr: John Ward (619) 422-1982.
North Park: 4-7 p.m. North Park Way and Granada. Mgr: David Larson (619) 237-1632.
Horton Square/Downtown: 11 a.m.-3 p.m (held March to mid-October), 225 Broadway. Mgr: Mary Hillebrecht (760) 741-3763.
El Cajon Marketplace: 3 to 6 p.m. (7 p.m. in summer) Downtown El Cajon at Orange Ave and Main Street. For information, call (858) 272-7054.
FRIDAY
La Mesa Village: 3-6 p.m. Allison Street, east of Spring Street (at La Mesa Village). Mgr: Suzanne Bendixen (619) 440-5027.
Rancho Bernardo: 9 a.m.- noon, Bernardo Winery parking lot at 13330 Paseo Del Verano Norte. Mgr: Mike Machor (760) 723-2469.
North Pacific Beach: 3 - 6 p.m. - November - February and 3 - 7 p.m. - March-October. Corner of Cass and Chalcedony Streets. Mgr: Ron LaChance (858) 272-7054.
Borrego Springs: 7 a.m. to noon (Nov thru May) at Christmas Circle Community Park at Christmas Circle and Palm Canyon Dr. Mgr: Erica Savage (760) 767-5555.
Clairemont Mesa: 3:30 to 7 p.m., Closed in winter months, Ray Kroc Middle School, 5050 Conrad Street, Clairemont Mesa and Highway 805, Mgr: Susan G. Beach (858) 272-4267.
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Simple Feng Shui Tips
July 23rd, 2007 Categories: Real Estate Juice
Three years ago I graduated from Feng Shui (pronounced fung shway) training as a certified practitioner. Cathleen McCandless in La Jolla was the instructor, and she taught well how to live in harmony with the environment–and how minor changes in our home and office environments can work absolute wonders. We learned to examine how the energy flow (chi) in our personal environment can be affected by the placement of objects and materials within it.
As training progressed, my own home and those of understanding friends and real estate clients became laboratories for element and furnishing rearrangements. Entire bookshelves in my home accumulated the Feng Shui works of Lillian Too, Kartar Diamond, Karen Kingston, Jon Robertson, Suzan Hilton and other wise teachers and practitioners.
Because there is so much to share, this should probably be an ongoing and periodic topic of discussion. I have found many clients who are either knowledgeable about Feng Shui–or who are curious to know more as well as why and how this ancient science works.
Where to start with Feng Shui and this article?
Probably with a clean slate!
The most important thing one can do to enhance the chi, or life force in a home (or an article on the subject), is to clear the space and declutter. Why?
The TOP NINE reasons for space clearing are listed below:
1. Save time. How much time is wasted looking for items lost in clutter? How much time is lost in cleaning and shaking dust from from stuff? How much time is lost to disorganization? Think of the time you might add to your life!
2. Feel better about yourself. Clear the clutter and youll automatically feel better about yourself, and no longer feel ashamed when unexpected visitors stop by.
3. Have more energy. Clutter and junk can exhaust you. The stagnant energy that accumulates around disarray can also drain human energy by holding one to the past and blocking the arrival of new abundance.
4. Lose weight. Can clutter affect your weight? Guru Karen Kingston thinks so. She believes that both body fat and clutter are forms of self-protection. Many of her clients miraculously lose weight when they let go of their junk. Interesting! Less is more?
5. Improve your health. Kingston claims that cluttery types may suffer from various forms of congestion, including dull complections and eyes as well as constipation and respiratory problems.
6. Grow your wealth. How can new abundance come into your life, when there is no room for it? Have you ever noticed how quickly an empty closet fills? Clear the junk and make room for new abundance. I have seen this work in my own life (over and over again….)
7. Clear your brain and unfog your thinking. Clutter confuses and dirt distracts. There is nothing like a clean room and clear brain to foster good choices and decisions.
8. Attract admirers. Like attracts like. I have seen cleared and cleaned homes bring higher purchase offers because the buyers amired not only the home, but respected the seller as well. I have also seen cluttered and messy homes attract the vultures. Or no one at all.
9. Have a more adventurous life! Travel lightly. Clutter-bearers pack heavy suitcases and weigh down trucks and bank accounts when they move. As a result, they probably travel less and move less often. It is a form of entrapment and often forces people to purchase or remain in larger homes that will accommodate their stuff,” clutter and collections.
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The Acorn Loan: Best-Kept Secret
July 23rd, 2007 Categories: Mortgage News, Real Estate News
The Acorn Mortgage Loan may not work in the San Diego luxury home market, but it’s a hands-down winner for entry level homes and those who may need to refinance out of Option ARMS and other loans that have become unaffordable. I have already spread the news among our real estate clients, nieces and nephews throughout the country, and out to the blogosphere.
In fact, I think the Acorn Loan is probably one of the best-kept secrets in real estate.
Almost by accident, I learned about the ACORN loan program earlier last year. Initially, it sounded too good to be true for our San Diego real estate market. I was to stand corrected. Judy Miller with Bank of America Mortgage explained that a borrower could receive below-market rates and amazing terms if the following criteria (regionally adjusted) were met:
- Applicant’s adjusted gross income less than $92,000 per year
- Home loan must be less than $500,000
- Applicant can only own one parcel of real estate. The Acorn Loan is good for not only first time homebuyers, but any homebuyer who owns only one property.
- Also an excellent tool for refinancing (out of riskier mortgages, perhaps?)
- The San Diego home can be purchased for more than $500,000, but the mortgage loan amount cannot exceed that amount.
The benefits?
- Below-market rate with no points.
- No PMI (private mortgage insurance)
- Very liberal debt-to-income ratios.
- Very low down payment required (0-5%)
- Underwriting will credit some “cash” income and alternative sources of credit.
- Credit and FICO scores are not as important with the ACORN Loan as they might be with other financing.
- No pre-payment penalties.
- No loan points.
Immediately after hearing about this program, a qualified client (48k per year income) approached us and we located a lovely La Costa townhome ($435k) that was ideal for her roommate situation. She had sold her home in Northern California and had a reasonable down payment (not necessarily required for the ACORN loan program). She took the one-day class on home ownership required by ACORN, and afterwards met with her counselor to obtain a loan certificate. She brought that to Bank of America, who processed and funded the loan. It was amazingly simple, and we were able to close within 45 days.
The loan terms? Fixed interest rate was slightly-below-market: Ten years interest only which will automatically convert to a fully amortized 30 year loan at the initial rate.
For a nationwide lender who is familiar with and can process and fund these loans, I would suggest calling Judy Miller at Bank of America Mortgage: 888-427-2936 or contact a representative at Chase Mortgage. It is only available through these two lenders.
I am very impressed with the program, and have other clients enrolling in the classes. It’s a terrific prequalification tool for Realtors—and the best loan program I have seen for qualified buyers.
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Hot Gossip in Real Estate
July 23rd, 2007 Categories: Real Estate Juice, Real Estate News
Gossip: It is a loaded word that alternately intrigues and informs, delights and dismays.
An earlier blog on real estate gossip, for example, raised the ire of a few agents and the interest (and agreement) of others. As for me, Ive enjoyed the diversion and have paid much closer attention to the frequency with which productive gossip occurs in my own professional life as a San Diego real estate broker.
The results are interesting. Recently, I have heard whispers of:
1) A pocket listing for a prime rental. It wont hit the San Diego MLS for several months.
2) Several murmers about what sellers of certain properties will really accept (but wont allow in the MLS).
3) What a particular lender will likely accept on a particular prime short sale in Carlsbad, Ca (wow!).
4) Who recently purchased a San Diego coastal golf frontage home, and will likely take less than what they paid for that home in order to get the San Diego beach home they really want (Source? A neighbor).
5)Which Carlsbad beach property had two unsolicited offers before it ever hit the market?
As a former news reporter, I have few problems about asking folks both probing and casual questions. Over the years, I also have learned the importance of:
1) Ferociously guarding our sources of information when necessary.
2) Protecting the privacy of our real estate clients.
3) Never making personal attacks.
4) Never writing, and seldom speaking, in anger.
5) Adhering to my own strict code of ethics, as well as that of the National Association of Realtors.
And finally, a note to those who think I advocate the withholding of information from the MLS to the detriment of my clients:
That is never the case.
No agent has the authority to post a pocket listing to the MLS. A signed agreement is needed to do so. Nor would I ever advise an agent (and certainly not myself) to withhold critical information from the MLS or from a buyer/seller.
As agents, we always have the obligation to disclose pertinent information to and on behalf of our clients. But I cant tell you the number of times I have had clients ask me not to publicize their divorce, pending move, financial difficulties, or illnesses in the MLS. And prior to quietly sharing any of this information with other agents, I always get permission from our client to do so. To do otherwise would be an absolute breach of trust.
Even so, there is always the natural flow of chatter, discussion (and gossip!!!) that occur among real estate professionals day in and day out. It is no different from attorneys, physicians or stock brokers who work together in their respective professions.
There is an ongoing and daily exchange of both important and trivial information being passed from one Realtor to another. And if I were a buyer or seller of real estate, I would certainly want to deal with an agent who was well-connected with his or her professional peers.
Finally, I have yet to meet a client whose ears didnt perk up at the mere mention of real estate gossip.
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