San Diego: America’s Finest City
San Diego is a vibrant and young-feeling city, but it is actually the birthplace of California. Originally populated by the Kumeyaay, its first European discovery in 1542 was accomplished by Portuguese explorer Juan Rodrigues Cabrillo sailing under the Spanish Flag (1499 - 1543). He landed in San Diego’s Point Loma and claimed the area for Spain.
There’s little chance Juan Cabrillo would recognize much about America’s Finest City today. San Diego is now the 8th largest city in the United States, with a population of 2.9 million. It is affectionately tagged as America’s Finest City because of the warm hospitality it extends to all, it balmy climate along with stunning natural beauty and views.
At the same time, San Diego is also the world’s 29th richest city and urban area in terms of GDP. What is the significance of this distinction? The top 30 cities ranked by GDP account for around 16 percent of the world’s entire gross domestic product (2005).
In addition being noted for its vibrant economy, San Diego is also known for the liveliness of its residents. Sports Illustrated once called San Diego “Sportstown USA” because San Diegans of all ages are so active. That is not surprising, since San Diego has over 70 miles of beaches and coastline, approximately 100 golf courses, and countless miles of trails for both hikers and horses. San Diego is also the home for the San Diego Chargers football team, as well as baseball’s San Diego Padres.
The gentle and relatively arid climate in San Diego presents the opportunity for year round outdoor sports and activities–as well as gardening. The Wikipedia chart below exemplifies this perfect climate:
| Weather Averages for San Diego | |||||||||||||
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg high °F | 65.1 | 65.7 | 64.9 | 66.7 | 67.1 | 69.3 | 73.0 | 74.8 | 75.4 | 73.4 | 68.9 | 65.3 | 70.2 |
| Avg low °F | 48.9 | 50.7 | 52.9 | 55.6 | 59.2 | 61.9 | 65.7 | 67.3 | 65.7 | 61.0 | 54.0 | 48.7 | 55.0 |
| Avg high °C | 18.4 | 18.7 | 18.3 | 19.3 | 19.5 | 20.7 | 22.8 | 23.8 | 24.1 | 23.0 | 20.5 | 18.5 | 21.2 |
| Avg low °C | 07.3 | 08.3 | 09.5 | 11.0 | 13.3 | 15.2 | 17.3 | 18.3 | 17.0 | 13.9 | 10.0 | 07.5 | 12.8 |
| Precipitation (in) | 2.28 | 2.04 | 2.26 | 0.75 | 0.20 | 0.09 | 0.03 | 0.09 | 0.21 | 0.44 | 1.07 | 1.31 | 10.77 |
| Precipitation (mm) | 57.9 | 51.8 | 57.4 | 19.0 | 05.1 | 02.3 | 00.8 | 02.3 | 05.3 | 11.2 | 27.2 | 33.2 | 273.6 |
| Source: worldclimate.com January, 2007 | |||||||||||||
Many San Diego residents originally came as tourists and visitors, and returned to spend the rest of their days in this coastal paradise. San Diego’s central and outlying economy is amazingly sound and diverse. San Diego County is a large and fertile agricultural center that also offers a broad employment base in manufacturing, aerospace, technology, aircraft and shipbuilding, as well as scientific and medical research. It is also one of the largest biotech centers in not only the United States, but the world.
San Diego’s Balboa Park area is the largest urban cultural center in the United States. It is home to not only the world famous San Diego Zoo, but to 15 different museums including an aerospace museum, art and history museums, science museum, railroad museum, and the Old Globe Theater(s). Here both locals and visitors find an ever-changing venue of exhibitions, plays, musicals and events. Though there is an admission fee to the museums and theatrical performances, entrance to the park is free.
Other attractions in San Diego would include:
Things to Do With Kids in San Diego
San Diego Chargers Football Team
San Diego Padres Baseball Team
San Diego Library (it’s not just books anymore!)
San Diego County includes not only the City of San Diego, but also a number of other incorporated cities and towns:
Carlsbad (including La Costa and Aviara)
Chula Vista
El Cajon
Encinitas (including Cardiff-by-the-Sea, Leucadia and Olivenhain)
Escondido
Imperial Beach
La Mesa
Lemon Grove
National City
Poway
Santee
Solana Beach
Vista
Neighborhoods and communities within the City of San Diego would include the following:
| Please feel free to click through this site to explore communities and real estate in and throughout San Diego County, including beach communities such as Coronado, La Jolla, Del Mar, Solana Beach, Encinitas, Carlsbad and Oceanside. For more inland serenity, golf and sunshine, you may want to look at luxury real estate and homes� in Rancho Santa Fe, Cielo, The Crosby, The Bridges, Santa Luz, La Costa,� and Carmel Valley.� Also in high demand are homes, condos and horse properties� in San Marcos, Lake San Marcos, Vista, Fallbrook, and the lovely� Warner Springs.� If you have any questions about these San Diego neighborhoods or other areas and communities please feel free to call or email and we’ll share all we can!Real estate listing information provided throughout this site is intended for consumer’s personal and non-commercial use. Listing data for San Diego properties is provided through Sandicor, San Diego County’s Multiple Listing Service.� Every attempt is made to update listing information on a daily basis, so that your search for properties will be as meaningful as possible.San Diego’s real estate market remains a lively one, and has become a very favorable one for home buyers.� Inventory levels are at much healthier levels than before, and in some cases we are negotiating short sales for our home buyers and sellers. It is a busy market! Almost daily, we receive calls and emails from people seeking relocation to San Diego coastal communities–or from locals seeking to upgrade or downsize. And of course, there are some who simply wish to pocket a tax-free gain they may have acquired by living in their home for two of the last five years. The San Diego real estate market is a very fluid one!If you are thinking of selling, we have buyers. If you are seeking to buy, we know San Diego and which properties might meet your needs.� We look forward to working with you and your relocation needs!Be sure to check out consumer links, school information, free reports,useful tools, and real estate answers too.Thanks for visiting San Deigo’s online real estate source. Please bookmark this site for future reference, come back often, and make yourself at home. We’ll leave the door open and the lights on! | |
The search for San Diego real estate and homes in the area might include any one of these cities–or unincorporated areas of San Diego County. To check availabilities, please feel free to call any member of The Murphy Group at 877-818-8197–or search the San Diego MLS online.
San Diego Real Estate: Short Sale, Foreclosure or Deed in Lieu?
July 1st, 2008 Categories: Mortgage News, Real Estate News, San Diego, San Diego Market Trends, San Diego Real Estate
San Diego’s mortgage meltdown has left many stressed and relocating homeowners wondering what to do. Should they just let their home go to foreclosure? Should they see if their lender will accept a deed in lieu of foreclosure? Or should they go through the uncertainties of a short sale on their San Diego home?
Fannie Mae’s recent announcement seems to provide some real clarity for owners of San Diego homes in default.
In a nutshell, avoid foreclosures, bankruptcy and deed in lieu of foreclosure if at all possible. It is far, far better to have a short sale–or a pre-foreclosure sale–as a resolution.
Why?
Under the Fannie Mae Announcement 08-16 (released 06/26/2008), short sales or those engaging in pre-foreclosure sales will be cleared to borrow on another home via Fannie Mae in two years from completion date of the short sale. This may be painful, but two years is far preferable to the alternative….
of 5 to 7 years if the home goes to foreclosure and 4 to 7 years if one opts for deed in lieu of foreclosure.
I am horrified that there are real estate agents advising people that there is no difference between a short sale and foreclosure–or that a deed in lieu of foreclosure may be preferable to either.
If homeowners were to follow this fallacious advice, our country’s real estate market would remain in the tank for at least another five years–and by that time we might have gone through an economic depression of epic proportions.
If your San Diego home is in default, please contact a qualified short sale specialist as soon as possible to help avoid the long-lasting consequences of foreclosure. The best buyer for your home is a cash buyer who is in a position to perform on short notice–at no cost to you.
We work with such a buyer–and are willing to forfeit any real estate commission on the sale to this investor group, because they will eventually turn around and list with us.
For additional information, call Mike or Roberta Murphy at 760-402-9101/9102.
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How to Delay a San Diego Foreclosure
June 7th, 2008 Categories: Real Estate News, San Diego, San Diego Market Trends, San Diego Real Estate
A looming foreclosure weighed heavily on our North San Diego County clients. Their custom home, purchased at the height of the San Diego real estate market in 2005, had plummeted in value.
Unable to pay mortgage payments of $8000 per month, they threw up their hands and asked for our assistance. We listed the home as a short sale, and dropped the asking price regularly. We hired a professional photographer, advertised heavily both off and online, and whispered the situation and opportunity to countless agents. We procured one lowball offer, which the lender rejected after reviewing their own BPO (Broker Price Opinion).
With payments in arrears since last November, their home was to be sold at foreclosure just yesterday, June 6, 2008. Though the family had located a new home out of state, they were not scheduled to move in until mid-July.
Their worst nightmare was not just the foreclosure, but the fear of a Sheriff showing up at their front door to physically remove them and their possessions out to the street.
And they had no place to go in the meantime.
We had called the lender repeatedly to try and stall the sale–and failed. We tried to procure a legitimate offer that would halt the sale–and even considered (momentarily) writing one ourselves to help these clients. At the eleventh hour, we located a bulk buyer of real estate who apparently has the cell phone number of key asset managers and lending vice presidents.
A magical call and verbal offer from this heavy-duty buyer on Thursday was enough for this lender to cancel the foreclosure that was to take place the next day. The sellers are beyond caring about their home’s sale price; they just want to be sure they have a roof over their heads for the next few weeks until they can make an orderly move with their belongings and pets.
And equally important, they are not paying one red cent to have this issue resolved. Beware the scammers who charge thousands to handle these matters.
We are re-listing the home with the bulk buyer (via a trust agreement) and will have the home back on the market next week–at a price we would never have dreamed possible. Our clients will be able to remain in the home, will keep the lawn and gardens watered and be able to relocate on their own schedule.
And buyers who are seeking a magnificent ocean view custom home in North San Diego County will delight at the pre-negotiated bargain we will be offering next week!
Note: If you are facing foreclosure and perhaps owe more than what your San Diego home is worth, please give us a call at either 877-818-8197 or 760-402-9101. At no charge, we may be able to delay the sale and perhaps even find a way for you to remain in your home.
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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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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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Downtown San Diego Blast
May 19th, 2008 Categories: Real Estate News, San Diego, San Diego Events, San Diego Real Estate
Upon hearing of this afternoon’s blast at the new Hilton Hotel under construction in downtown San Diego near Petco Park, we immediately worried about the injured.
Apparently 14 workers were maimed in the unexplained blast, which occurred at around 2 p.m. this afternoon. It appears that four lower floors of the waterfront skyscraper were badly damaged and that debris is littering the ground below.
San Diego Police and San Diego firefighters are still surrounding the site near the San Diego Convention Center, and the entire scene is being investigated.
Fortunately for all (except for the intent of the bad guys), there was no fire. And that is a blessing for all.
Will this affect downtown San Diego real estate and home values?
I am inclined to think not, as long as this is an isolated event.
In the meantime (and quickly), I hope San Diego Police and Fire personnel nab those who set off this blast–and that the innocents who were seriously injured recover quickly and completely.
UPDATE: It appears this San Diego blast occurred as a result of a gas leak that occurred in a fifth-floor boiler room. The main concrete and steel structure sustained no real damage. Most of the destruction was limited to the northwest corner of the hotel building–along with the mechanical room on the fifth floor.
As we wrote last night, this should have no impact on urban San Diego real estate values.
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