Oct 03, 2008
The changes in the current real estate market require home buyers to apply a different strategy to their home purchasing than in an up market. Buyers who adjust their strategy to take advantage of lower home prices will be able to avoid costly mistakes, and find success in purchasing a home at a good price. Remember, although there are expected ups and downs in the market, real estate continues to be a wise investment. The current market requires more planning, but you can still find success in today’s market. Listed below are some helpful strategies for buying in the current real estate market.
Seek out properties in areas that have remained fairly stable or have only experienced a slight decline. These areas will turn around the quickest when housing prices increase.
Study the pricing trends in the particular area where you are planning a purchase. This will help you determine if the home you are planning on purchasing is a good investment and will retain its market value.
- Look at the number of houses that are for sale in a given area where you are planning to purchase.
- Check the asking price.
- Analyze how many homes sold in this area within the last month, the last 3 months, the past 6 months, and the past 12 months.
- Determine the sold prices for the houses, the discount on the home prices, and whether the closing was a Seller Paid Closing. If so, ask what percentage the seller paid at closing.
- Look at the Days on the Market (DOM) for these homes.
Analyze the Comps (Sold Comparables) This is one of the numbers that you must pay attention to during the home comparison process. In the current market, comps are important but the number of “Days on the Market” (DOM) helps to tell the rest of the story. First: Analyze the length of time the properties are sitting on the market before they sell. Second: Look over the last 3 to 12 months of the sold comparables. Have the homes been discounted? Check to see how many homes are for sale in the same area and check the asking prices.
Review the provisions of The Housing and Economic Recovery Act of 2008. Many eligible homeowners and first time buyers may find home ownership more affordable. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the home purchase. Additional provisions include a modernized and expanded FHA loan program, assistance for veterans, and the HOPE for Homeowners Act 2008. If you are considering the purchase of your first home, an interest free refundable tax credit of $7500 includes purchases on or after April 9, 2008, before July 1, 2009.
Aug 18, 2008
Row homes are a classic housing style that is enjoying a revival because of the advantages it brings to home owners. Owners have full control over the building and the ground on which it is built. Since there is no common area to maintain, there is no home owner association, and no HOA fees.
In high density areas, a new style of row home is cropping up – homes that are contemporary in style, designed with outdoor patios, decks, roof gardens, and built with sustainable materials. This means minimal maintenance and greater affordability. During construction, some row home contractors offer retrofitted design options.
Several inches of space, covered by flashing and hidden from view, usually separate row homes from each other. This style of construction makes it unnecessary to have a homeowners association. Legally, these homes are considered separate entities due to the 2 or 3-inch separation between homes. Outwardly, they look like attached town houses. The properties are divided from each other by an imaginary lot line, making it possible for each owner to have full control over the home and the land.
This centuries old style, row homes, can be found throughout the world, in New York, Paris, London, New York, Australia, New Zealand, Singapore and Malaysia. The style and type of material used in constructing row houses vary. Many homes are primarily red brick in construction, with stone and marble accent. Some communities have homes that are built of solid granite. In architecture and city planning, a row home or terrace house is a style of housing in use since the late 17th century, where a row of identical or mirror-image houses share side walls. The first and last of these homes is often called an end terrace or end unit, and is often larger than the homes in the middle.
In the United States, Thomas Carstairs, a Philadelphia builder and architect designed the first row houses or terrace housing in 1799 for the Philadelphia developer William Sansom. Carstairs Row in Philadelphia was part of the first speculative housing developments in America. Many of Philadelphia’s row houses date back to colonial times. Prior to this time houses had been built individually, not in rows. In Philadelphia, Baltimore, San Francisco, and Washington DC, homes built side by side with the dividing walls being common on each are simply called row houses or row homes, and are quite common. In New York City and various urban centers around the country, a particular type of row home made of a brownish-red sandstone is called a brownstone. Despite the narrow lots, many brownstones are relatively large. Some newer row homes in these areas are often referred to as “attached houses”. In much of the Southern United States, they are referred to as row homes. In the Midwest and Great Plains they are referred to as “townhomes.” In the United States the term, “row home”, usually describes a two story, housing unit that shares a wall with one or more neighboring units.
Aug 10, 2008
As soon as you enter this clean, lovely home and set foot on the hardwood maple flooring, you will feel the stress of the day melt away. Enjoy the warming morning light that enters on the private deck and through the kitchen window. Entertain on the deck or enjoy the ocean breezes from the master balcony. Move-in ready with new kitchen cabinets, mirrored closet doors and fresh paint. The new, energy efficient appliances make cooking and cleaning up a breeze.
If you are looking for a condo that lives like a home, you must see this town home with an attached garage! Live in a peaceful park like location with trees abound and parks nearby. Park your car in the garage and enjoy the convenience to all. The Southern California lifestyle at its best! Walk or bike to UCSD, shops, restaurants, movie theaters, banks, pharmacy, post office, and beaches.
Bring an Offer Now! Priced at $369,000. Tour the property. To view additional properties log onto Denay Trinidad or Schedule an Appointment Today!
Contact Denay, a La Jolla realtor who specializes in the La Jolla real estate market. Please feel free to call me with any questions: Cell: 619-925-7087, Office: 858.459.3851 ext. 206 or by E-mail: info@denaytrinidad.com
All information deemed reliable but not guaranteed. Buyer to verify all information before close of escrow.
Jun 16, 2008
Located in the very heart of San Diego County, Mira Mesa (pop. 80,000+), is the largest of the county’s communities. Sometimes referred to by residents as “The Mecca” due to its central location, this community covers 10,500 acres and is situated between Interstate Highway 15 to the east and I-805 to the west. Also located at its west end is Sorrento Valley, an important business and technology park and major area employer. On Mira Mesa’s northern border lies the Los Penasquitos Canyon Preserve. At the community’s southern end is Marine Corps Air Station Miramar.
The military was very influential in the establishment and early development of Mira Mesa. During the World War II era, the area served mainly as an airfield and training center. Read the rest of this entry »
Jun 15, 2008
Tucked in between freeways I-5 and I-805 just south of SR-52 in northern San Diego County is the community of Clairemont Mesa (pop. 77,906). It was started during the post-World War II building boom of the 1950s & 1960s & covers 13.3 square miles. The freeways, state highway and several major thoroughfares afford residents of Clairemont Mesa easy access to the rest of San Diego County & points beyond.
Even though the community does not have its own coastline, the Pacific Ocean and Mission Bay Park are only a quick ride west away. Clairemont Mesa gets its name partially from the dear wife of the community’s developer, Carlos Taveras, and partially from its terrain which is formed by two large canyons cutting through it. Read the rest of this entry »
Jun 12, 2008
Encinitas (meaning “hills of live oaks” in Spanish) is a coastal community in San Diego County covering 21.5 square miles with a population of 62,774. It is actually a conglomeration of communities (Cardiff, Leucadia, Olivenhain and Old and New Encinitas) which united in 1986 to form the City of Encinitas while still retaining their unique personalities. This blending of communities contributes to the great variety of pursuits and lifestyles available to residents of the community, chief among these being flower cultivation and surfing.
The western boundary of Encinitas consists of six miles of stunningly beautiful beaches, most of which are a surfer’s dream come true. With a near perfect climate and average year-round temperature of 72 degrees, surfers can ride great waves here throughout the year. Read the rest of this entry »
Jun 01, 2008
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