Archive for May, 2008
Shhh! San Diego Real Estate Commissions Revealed
May 30th, 2008 Categories: Carlsbad, Del Mar, Oceanside, Rancho Santa Fe
It’s a taboo of sorts to discuss real estate commissions, not because it’s an impolite topic (like discussing one’s salary or bowel habits at a social gathering), but rather, it could land a real estate licensee in jail (or so we are warned). Of course, it is legal and necessary to discuss commissions with a home seller–and as we all know, this is a negotiable fee. But to publicly discuss real estate commissions is insane, unless, of course….
the courageous San Diego real estate blogger is quoting a bigger mouth.
So what can I say about San Diego real estate commissions? Well, according to HomeGain (the bigger mouth), San Diego real estate commissions during the month of December, 2007 (time for an update?) averaged 5.1 percent across the board, whether it was a $300,000 Oceanside condo, a $500,000 San Marcos home, a $750,000 Carlsbad home–or a $1,000,000 or more Del Mar or Rancho Santa Fe mansion.
I don’t suppose this is earth rattling news of any sort, and it feels about right to this writer and real estate broker–except for those San Diego sellers who overprice their homes and think that a 9 percent commission and a paid trip around the world will enable or convince us to sell this overpriced property to some unsuspecting buyer. Not a chance.
Home Gain says this figure is based on historical commission averages for San Diego real estate sellers who found their agents through Home Gain. And they, too, disclose that real estate commissions are negotiable.
(Note to myself: Yippee! I crossed that real estate minefield and am still in one piece).
Have a nice weekend–and enjoy all the graduations and celebrations in our midst!
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5 Little Economies for San Diego Real Estate
May 28th, 2008 Categories: Encinitas, San Diego, San Diego Real Estate, San Diego Relocation
I traded the Mercedes for a Camry Hybrid almost two years ago, mostly because I like its tight turning radius (I make lots of u-turns), its fuel economy (I hate stopping for gas) and the fun questions I got from just about everybody (back then).
And I still love the car.
Last weekend, on my way to a home inspection in San Diego, I had to stop for gas in Encinitas (where it was selling for just $4.03 a gallon), paid $60 to fill the tank–and was grateful for the hybrid’s fuel economy. It also makes us wonder how rising fuel costs are already impacting the way we search for real estate in San Diego County.
Some observations:
1. The internet becomes more valuable than ever for searching San Diego real estate. Let your keyboard do the driving makes lots of sense these days. Search San Diego real estate with a simple click.
2. We’ll likely all become more efficient when we go out to see properties, and will see more on each trip compared to last year (increased inventory also helps).
3. Real estate agents’ business may become more local. Will we still see Temecula and Orange County agents showing widespread San Diego homes for sale? Wouldn’t a referral to a local agent (and vice versa) make more sense?
4, More than ever, smart real estate agents will prequalify their clients before investing so much time and money in them. This may require more time up front, but will provide huge savings for both the client and the agent.
5. I have resolved to clear stuff from the back seat of my car, so that clients might ride with me instead of fueling gas prices by following me around (which happens all too often). Children’s car seats, though, sometimes present seating problems.
None of these ideas will win prizes for originality, but if we all practice them the cumulative savings could be huge.
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La Costa Canyon: Break Up with Bottled Water
May 27th, 2008 Categories: Carlsbad, Encinitas, Hot Market Trends, San Diego Communities
Trash cans at La Costa Canyon High School in Carlsbad, CA are emptier now that students, faculty and staff are switching to reusable water bottles.
And that is all because students with LCC’s Social Justice Project came up with a plan that is succeeding beyond all expectations, according to students and Christopher Greenslate, the LCC Social Justice teacher who also teaches journalism and English at the school.
Students sent out emails and made posters on recyclable paper to educate fellow students on the hazards of plastic water bottles, which are disposed of at the rate of 60 billion per year–and is the leading source of plastic pollution in the United States. They also sold recyclable bottles, which student and faculty quickly bought.
When that supply sold out, reformed plastic bottle users found other off-campus sources. It is hoped that the ubiquitous plastic water bottle will be replaced with reusable ones that won’t trash our planet so needlessly.
As a result of this successful effort, La Costa Canyon High School’s video about their breakup with bottled water has been selected as a finalist in Quantum Shift’s $50,000 contest for best environmental project.
Please visit the site and cast a vote for La Costa Canyon’s Social Justice. Perhaps their efforts will spread to other area schools, colleges and workplaces. In addition to lessening environmental impact, there will be significant cost savings. Home filtered water put in glass bottles is not only healthier, but runs just 1/10 the cost of bottled water.
All of San Diego and the neighboring communities of Carlsbad, Encinitas, Olivenhain, Cardiff, and Rancho Santa Fe should be proud of La Costa Canyon High School and their very green project.
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Mortgage Trouble in San Diego? Beware the Scammers
May 24th, 2008 Categories: Mortgage News, San Diego, San Diego Real Estate, San Marcos
I am just now cooling down after spending a good part of this afternoon trying to help a San Diego area homeowner saddled with the unpleasant results of churned mortgages.
This particular property in rural San Marcos has been refinanced by the same lender with a total of nine loans over a couple of years. In one instance, only 28 days elapsed between refinancings. With total debt now approaching $2 million, this distraught owner is seeking a way to keep her home and not be forced to sell it.
Sometimes, keeping people in their San Diego homes is just part of our job–and one of the most rewarding ones.
But the ordeal got me thinking of all the scams surrounding (and invading) San Diego real estate. Mortgage scams certainly contributed to the rise in San Diego foreclosures and short sales, but it is the buzzards circling over and divebombing distressed homeowners that infuriates this Realtor.
Some of the current San Diego scams:
1. The mortgage buzzard persuades the distressed homeowner to sign over the deed to their San Diego home–and then offers to rent it back at a rate that may exceed the original mortgage payment. If the homeowner-turned-tenant falls behind, they are not only evicted but have also lost any equity they may have had in their property.
2. Beware of what you sign: Many homeowners have inadvertently signed over the deed to their San Diego real estate, believing they are simply signing mortgage documents. I have spoken with several homeowners who have been near-victims of this real estate scam.
3. Watch out for hefty upfront fees charged by those who offer to stop your San Diego foreclosure. All too often, these scammers generate lots of paperwork, get some signatures, collect a check (for up to three month’s payments)– and disappear. Far better to call a San Diego Realtor who can help negotiate with lenders on your behalf–and is paid only when and if your property actually sells or is leased.
If you have any questions about these scams, please feel free to give me a call at 760-402-9101 or contact me via this site. I’ll try to answer your questions.
PS: No offense intended to California vultures.
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Phantom Galleries for San Diego
May 22nd, 2008 Categories: Oceanside, San Diego Activities, San Diego Events
Here’s another blog post that has nothing to do with San Diego real estate or homes, but everything to do with walkable shopping areas and the potential for fine eye candy.
Late yesterday, I received a fun call from April Game, CEO and Founder of the San Diego Fine Art Society. She explained their goal of allowing area artists to display their works in San Diego’s empty storefronts that are barren ugly or otherwise unremarkable.
It is an idea that would encourage walking, conversation–and perhaps a new appreciation for the arts and the artists who share their works.
I immediately thought of the ground floor retail space at Oceanside Terraces in downtown Oceanside. What a great visual display it would be for art to replace the empty window spaces that populate this luxurious building and residence.
On this San DIego Realtor’s to-do lists for today? Make some calls and try to secure some empty storefront windows in downtown Oceanside.
This phantom gallery project appears to be well-underway in Los Angeles, and the San Diego metropolitan area just may outshine its northern neighbor (right, April?)
To be continued….
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