Holiday Safety Tips for Homeowners

The Holiday season is here again and with it comes all the joy and celebration, stress and chaos. What is supposed to be a time of gifts, parties, and family, can quickly turn into hectic shopping trips, travel plans, and unexpected tragedies. This time of year is composed of so many elements there is always the possibility of something going wrong.  There are several precautions homeowners can take to keep their families and homes safe over the Holidays.

 Decorations are an important aspect of the festivities and set the mood for the season.  For most households choosing the tree is a family affair, but choosing the right tree is more important than you think. It is important to choose a fresh tree that is green, sticky with sap, and moist. Older trees that are dry and brittle are fire hazards and the cause of over 250 house fires each year. On average these fires result in 14 deaths, 26 injuries, and $13.8 million in direct property damage annually. Once you have chosen a fresh tree, keep it fresh by checking the water level every day. If you decide to use an artificial tree, do not use electrical lights on metallic trees.  Whenever you leave the house or go to bed, make sure the Christmas tree lights are unplugged.

Lights are a great way to decorate the outside of your house, but can also become a fire hazard if not done correctly. Before hanging the lights check them for any cuts or frayed wires. It is important not to overload outlets; limit it to three sets of lights to an extension cord to avoid sparking fires. Take extra care when using ladders or walking on roofs to hang the lights.

Another unexpected tragedy that can affect households over the Holidays is burglary. The winter season is a very common time for people to take long vacations and leave their homes vacant. For this reason, thieves prey on those who travel during the season. To reduce your chances of being robbed, take a few precautions to throw them off your trail. Try not to have the same routine every day or week. Leave the house at different times leading up to the vacation. You can give the appearance that someone is always home by using light timers or leaving a television on. Make your neighbors aware of the dates you will be gone, and ask a friend to house sit or stop by periodically. Of course alarm systems will also help deter burglars.

No matter what Holiday you are celebrating this year, these tips can help you avoid a disaster and keep your home safe.

      Nick Alameddin

     Real Estate Broker

    C 760.802.4166

    O 858.455.6700

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

Celebrating 18 years in the Real Estate Business, who do you know that wants to Sell, Short Sell or buy in the next 30 days?

Posted via email from Nick Alameddin's

Is There Value in Homeownership?

From: Kelsey Ball [mailto:kelseyball@premieresd.com]
Sent: Wednesday, November 17, 2010 2:21 PM
To: 'Nick Alameddin'
Subject: Is There Value in Homeownership?

Is There Value in Homeownership?

 

In early 2005 the common trend in real estate was to buy and sell within an incredibly short time frame and walk away with profits. The market quickly took a turn, and most of these buyers found they had bought at the top of the market as the prices corrected. Since then, the economy has been struggling to recuperate. Unemployment and foreclosure rates skyrocketed, while home prices plummeted. This gloomy situation has had potential homebuyers asking the question, “Is there value in homeownership?”

Historically, homeownership has been a long-term investment that brings many rewards. It was not until the last decade that “flipping” a home became a popular way of making a profit. House “flipping” and gains during this time were driven by risk and easy money financing that is no longer permitted. To find value in homeownership we need to go back to the original idea of staying for a longer period to build more equity. For homeowners that take this route, they may be able to refinance at a better rate once they have built more equity in their home. Long-term owners are more likely to see healthy gains in the value of their property. It encourages stability, and the longer you own, the better your investment.

“Flippers” and investors have also changed their ways to adjust to the current real estate market. Experienced investors are first studying the properties, neighborhoods, and demand before making the purchase. Often investors are paying cash, then making small improvements or renovations. The shift has gone from a quick flip, to an investment or rental property.

Recent surveys tell us that many homeowners are already seeing the benefits of long-term ownership. A typical seller that has been in their home for eight years will experience a median equity gain of $33,000 or twenty four percent. In this same survey, first time homebuyers are planning to stay an average of ten years and repeat buyers fifteen years. These homeowners will experience a median gain of forty percent. With more Americans buying for a particular reason such as job relocation or a changing family situation, it is the long-term owners that will find value in homeownership.

Posted via email from Nick Alameddin's

Advantages to Listing During the Holidays

From: Kelsey Ball [mailto:kelseyball@premieresd.com]
Sent: Wednesday, November 10, 2010 10:51 AM
To: 'Nick Alameddin'
Subject: blog 11/10

Advantages to Listing During the Holidays

With the holiday season quickly approaching, many homeowners who have considered putting their home on the market have decided to wait until after the season to list. Potential buyers in the market have also put off their home search for the same reason and will pick up again in January. While there are many excuses to not list your home over the next few months, there are many advantages to doing so. During the holidays people who are looking to purchase homes are the more serious buyers. Since the rest of homeowners are waiting to list, there will be less competition on the market, meaning more money for you. In January we are expecting to see a 30 to 40 percent increase in the inventory of homes on the market. With an increasing supply of homes there will be less demand, causing home prices to decrease in order to remain competitive. Therefore, if you wait to list you home might be worth less money in a few months.

Another advantage to listing your home during the holidays is that homes tend to show better when they are decorated for the season. Buyers are also more emotional during the holiday season, so they are more likely to pay your price when driven by their emotions. They usually have more time available to view homes during this time, rather than the regular work week. Also, January is traditionally a time where employees begin new jobs. Since transferees cannot wait until the spring to buy, you must be on the market now to capture that market. In addition, some people may be in a rush to make a purchase before the end of the year for tax purposes.

Most homeowners argue that the holidays are a very busy time and they do not want to deal with showings and the possibility of packing and moving. There is always the option to restrict showings to times and days that work best for you. Another option is to discuss with your agent and the buyer a delayed closing or extended occupancy until the beginning of the New Year. This will allow you to sell now for more money and not have to worry about packing up and moving over the holidays. In addition, by selling now, you may have the opportunity to be a non-contingent buyer during the spring when more houses are on the market for less money. If this is the case you will be able to sell high and buy low. While many homeowners can come up with reasons not to list over the next few months, they should first consider the advantages if they do.

 

 

Posted via email from Nick Alameddin's

School District Statistics

School District Statistics

If you are contemplating a move to a different area of San Diego there are many factors to consider while weighing the pros and cons of a neighborhood. Most people will consider the accessibility of the home to amenities, such as grocery stores, shopping, or parks. Some will look at the crime rates in the region to ensure that it is a safe community. If you have children the school district is usually a priority in your decision to move into a particular neighborhood. There are many ways to evaluate a school. One way is by using the academic performance index report, which compares the testing scores of every school in San Diego County. You are able to see if a particular school has met there required change in their scores, as well as the percent change from last year. The scores are pulled from the STAR and CAHSEE tests, based on values from 200-1,000.

	Percent Increase in Test Scores ’09-’10 of San Diego County High Schools

West	East
La Jolla 10%	Rancho Bernardo 14%
Carlsbad 0%	Poway 7%
Oceanside 10%	Scripps Ranch 34%

Based on these statistics we can see that high schools located more inland have increased their scores significantly over the past year. While coastal cities have also seen a general increase in their scores during the same period, it was not quite as great as inland cities. Most all of these schools scored in the high range, over 812. Scripps Ranch High had the highest score of 875. Unfortunately, Oceanside had the lowest score of 750. Education often takes precedence for parents when it comes to their children. If you are thinking about selling and moving to a new area it is a good idea to research the new school district in the area. In addition to academic performance statistics, it is also recommended that homebuyers look up crime statistics, and familiarize themselves with the surrounding area before buying. Purchasing a home is one of the most important financial decisions most people will make in their lives. Why wouldn’t you take the time to research your investment?

      Nick Alameddin

     Real Estate Broker

    C 760.802.4166

    O 858.455.6700

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

Celebrating 18 years in the Real Estate Business, who do you know that wants to Sell, Short Sell or buy in the next 30 days?

Posted via email from Nick Alameddin's

Cardiff By-The-Sea Real Estate Update

Located just north of Solana Beach and in the southern part of Encinitas, Cardiff By-The-Sea is easily within commuting distance to almost all of San Diego. While technically a part of the city of Encinitas, Cardiff is recognized by its own zip code (92007). Situated just west of Interstate 5, many of its residents live on hillsides with gorgeous ocean views. The city has a population of 11,019 people, with a median household income of $81,059 and is well known as one of the most charming seaside communities in the nation. Cardiff offers residents the small town atmosphere, with the convenience of a nearby big city.

Currently in Cardiff By-The-Sea there are 48 homes for sale. Being a very small, yet attractive city, the average listing price of these luxury beach homes with fantastic views is $1,427,954. From January through August of 2009 there were 525 homes listed, 103 of them being new listings. During the same period of this year there were slightly more homes listed totaling 553 active listings with 115 new homes coming on the market. Similar to many other areas of the United States, Cardiff has seen a tremendous effect on their real estate market over the past few years. In August 2009 there were only three homes sold in Cardiff with a median sales price of $749,000. This year, in August 2010, there were five homes sold in the area with a median sales price of $735,000. with more homes entering the market this year sellers have seen a slight drop in the home values, opening the market to buyers.

With mortgage rates at record lows, it is a great opportunity for potential homebuyers to save in the purchase of their new home, and homeowners to refinance. As of October 18^th, 2010 in San Diego County a 15 year fixed mortgage rate is 3.936%, 30 year fixed is 4.429%, and a 40 year fixed is 4.614%. These rates have helped generate activity in the real estate market over the past three quarters this year, and are expected to stay low through the rest of the year. However, mortgage rates tend to fluctuate on a daily basis and depend on the qualification of each applicant. If you are thinking of buying or refinancing in Cardiff By-The-Sea, now would be a great time to look into it and take advantage of these rates.

      Nick Alameddin

     Real Estate Broker

    C 760.802.4166

    O 858.455.6700

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

Celebrating 18 years in the Real Estate Business, who do you know that wants to Sell, Short Sell or buy in the next 30 days?

Posted via email from Nick Alameddin's

Should San Diegans buy, refinance or Wait?

According to Roger Showely a staff writer with the Union Tribune, rates again are nearing their 5-year low. This article goes on to offer a few ideas on what you should do. To read the full article please click on http://www.signonsandiego.com/news/2010/may/27/mortgage-rates-and-choice/

      Nasser Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

New "Restaurant Row" in Carlsbad

Most locals know the area as “restaurant row,” but the new Paseo Carlsbad is quickly becoming a hot spot for North County dining. The variety of food includes everything from seafood pasta to Chicago style pizza placed in row of upscale restaurants along Paseo del Norte in Carlsbad. Locals are pleased with the San Diego festive atmosphere of the area, without all the traffic. Some of the restaurants include King’s Fish House, who offers nine sizes of lobster, and a dozen types of oysters along with many other seafood items. Also P.F. Chang’s China Bistro, a popular chain of gourmet Chinese food, and BJ’s Restaurant & Brewhouse, whose menu features a variety of America Fusion foods.

Paseo Carlsbad has been so successful in the short time it has been open, that there is talk of an expansion within the next decade. According to Strategic Property Service Advisors, the investment company that currently manages the project, the parking lot is full most nights of the week. While there is now overall sales tax revenue available at this time for the restaurants, the lack of vacant parking spots is an indication that they are doing well so far. Residents of North County see this as a sign of the high demand for more projects such as this.

In September, Paseo Carlsbad is looking forward to the completion of their large construction project that will add a two story, 44,400 square foot complex of upscale retail shops. In the near future, Strategic Properties is looking to update the Holiday Inn property at Palomar Airport Road and Paseo del Norte. The cream and blue colored mock windmill, the hotel and its accompanying TGI Friday’s restaurant look out of place next to the newly constructed “restaurant row.”

      Nasser Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

Real Estate Market Trend Updates in North County

If you are looking to buy or sell a home in North County it can be helpful to be familiar with the current real estate market trends and activity. As we have been seeing in the news lately, the real estate market in San Diego has been moving in the upward direction with more sales and increased median home prices. Here is a breakdown of the activity in Carmel Valley, Solana Beach, Del Mar, La Jolla, Carlsbad, and Encinitas.

The graph tells us that while listing prices are staying high in these areas and retaining their values, most of the homes being sold are priced below $800,000 with the average about $500,000. The number of sales in these areas over the past 90 days can also provide us with valuable information. Carmel Valley            has had 31 sales, Solana Beach 55, Del Mar 40, La Jolla 172, Carlsbad 452, and Encinitas 149. With a lower average listing price of $857,565 and median sales price of $535,500, Carlsbad has had the most activity over the past 90 days.

      Nasser Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

North County Summer Outdoor Concerts

North County is a popular place this summer for musical entertainment. The outdoor concert venues are offering a variety of musical genres in the coming months, where everyone is invited to come enjoy our beautiful San Diego sunshine. Whether you prefer salsa-funk-hip-hop, Afro-Cuban grooves, or some smooth jazz, there is something for everyone.

Starting on June 25^th through August20th in Carlsbad, the TGIF Jazz in the parks will be offering free concerts from 6-8pm every Friday. This summer tradition began in 1986 and has quickly become and integral part of the community’s life with close to 4,000 people attending each concert during the summer months. (Carlsbadca.gov)

Headed to the Del Mar Race Track this summer… Why not enjoy both the race and great music for the same price? Admission to the 4 o’clock Friday Races also gets you into the concerts at the new Seaside Terrace Stage, otherwise the concert will cost you $20. The shows begin on July 23^rd and go through September 3^rd. Concerts on Saturdays will be held after the last race on the Infield Stage. For more information on the performers and specific dates visit delmarscene.com.

For your Independence Day celebration, instead of braving the crowded beaches, go to Escondido for an outdoor concert with performances by The Corvettes, Danielle Tucker and Marine Band San Diego. The show will be held at Grape Day Park from 4-10pm on July 4^th. (artcenter.org)

On the weekend of June 5^th and 6^th, head on over to Solana Beach for their Fiesta del Sol. There are a variety of musical performers including Affrolites, Balkan Beat Box, World Anthem, Sol E Mar, Dick Dale, Stranger, and many more. The concerts will begin in the early afternoon and go until 8:30pm with free admission. (Fiestadelsol.net) This summer don’t miss out on the variety of musical performances, wonderful weather, and free shows being offered in North County.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

La Jolla Seal Cove

The La Jolla Seal Cove, also know as Children’s Pool is a popular attraction in San Diego. The protective cove has become a safe place for the seals during their pupping season, between December 15^th and May 15^th. The cove is a popular attraction for both San Diegans and tourists, where they can observe can the seals with their pups while watching the waves roll in. Early Saturday morning a crew from San Diego Parks and Recreation removed to rope barrier that is meant to protect the seals during their pupping season. The beach is now open to the public to walk freely, but there is some concern about the interaction with the seals that remain and beach goers.

Organizations such as La Jolla Friends of the Seals is hoping for a ruling that will put the rope barrier back up year round to protect the seals from us, and us from the seals. They see a need to protect this local treasure that is admired by so many and a home to the seals. There is an importance of preserving the natural wildlife of San Diego for people to observe as opposed to watching the animals perform in captivity.

The conflicting argument for the rope removal is adopting a “shared” beach management plan, which has been the case in the past. The plan involves keeping the cove closed off to beach goers only during pupping season, and opening it the rest of the year. Parents of young children see the cove of a perfect place to take the kids, because it is so protected. The shallow waters and barriers from the waves make it a good Children’s Pool to enjoy the beach.

On Monday May 17, 2010, the City Council is expected to vote on a beach management plan that will be best for everyone to enjoy the Children’s Pool, while keeping the seals safe. What ever is decided the fact remains that the La Jolla cove is a beautiful place to enjoy our beach and observe the marine life that lives there.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

New California Buyers Tax Credit

In late March Governor Schwarzenegger signed a bill that will award an estimated $200 million in state income tax credits to first time home-buyers who buy a newly built or existing home, which is good news for prospective home buyers in San Diego. The California tax credit began on May 1, 2010 and will continue until December 31, 2010, or until the funding has been exhausted. The bill, AB 183, provides the funding be split evenly between the purchase of existing homes and newly built homes, allocating $100 million to each group. The credit is worth up to $10,000 over the next 3 years, but the homeowner must owe at least $3,333 in state income tax in each of the 3 years.

The Franchise Tax Board estimates the actual cost for the state will be about $200 million, but there is a possibility that it could amount to more or less. The bill allows for the tax board to award at least 17,544 buyers of existing homes and 14,286 or newly built homes. If every new home buyer received the full tax credit of $10,000 to total cost for the state would be $300 million, but is not likely.  

Analysts agree the federal tax credit for first time home buyers helped sales increase by 27% in March, compared to a record low in February. So far about 1.8 million home buyers had used the federal tax credit with a cost of $12.6 billion according to the Internal Revenue Service. The hope for the new state tax credit is that Californians will take advantage of this opportunity, and keep the real estate market in this upward trend. The federal tax credit that ended on April 30, 2010 and gives until June 30^th to close, slightly overlaps with the new state tax credit. This overlap poses a potential to take advantage of both credits totaling $18,000 available to homebuyers.

To qualify for the new state tax credit the home must be a single family residence, either detached or attached. The taxpayer must occupy the residence for a minimum of two years following the purchase. A first time buyer is eligible to purchase either an existing or newly built home, where as a non-first time buyer is only eligible for a new home that has never be occupied. A first time buyer is defined as an individual who has had no ownership interest in a principle residence for three years before the date of purchase. You must also be eligible for the California property tax homeowner exemption. For more detailed information please visit the California Franchise Tax Board website.

Since there are limitations, restrictions, and other deadlines, not everyone can qualify for the tax credit. If you recently bought real estate in the San Diego area, or are considering this opportunity for the new state tax credit, it is a good idea to contact your attorney or tax professional to make sure you qualify.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

Good Time to Invest in Rental Property

If you have been considering investing in a rental property, now would be the time to act. Low home prices in San Diego, combined with low interest rates from local lenders, makes this the perfect time to become a real estate investor. For first time investors it is important to consider your options and develop a strategy for your future. Consider whether you want to become a landlord, flipper, or developer. From there you will have a better idea of what you are looking to make your investment. In the current real estate market the most sensible option for first time investors may be residential homes, because commercial and development real estate are still facing challenging times.

Once you have weighed the options you need to find an agent. It is important to look for a real estate agent that is experienced in investment properties in San Diego County. While searching for your investment, different features will be important to you compared to the typical buyer. You will be looking for something that can provide you value and return on your investment as opposed to certain other amenities buyers look for. In San Diego County, rental rates have been increasing modestly over the past six months and vacancy has decreased, making it a good time to buy a rental property. Recently Premiere Homes found a condo for client A at $112,000 near the San Diego State University campus. After putting about $8,000 into the property for repairs and updating it is now rented for $1450 per month.

Another option is to form a partnership with an experienced real estate investor. During these difficult economic times they may be willing to assist you with their experience and knowledge in exchange for your added capital. Even if you decide not to collaborate with another investor, find out what you are getting yourself into. Talk to the experienced investors to find out what you can expect to encounter on your new venture.

When the search for promising properties begins take into account what a renter will want in a property. For most, location is a key element in how much they will be willing to pay monthly. High rent, highly populated areas are ideal. Pick homes in close proximity to malls, grocery stores, schools, and neighborhoods with low crime rates. It is important to plan for the unexpected and have capital saved up. As a landlord you will be responsible for repairs and must be prepared to pay the mortgage during vacancy periods if any. You may want to see a financial advisor to make sure you have enough assets to cover the ups and downs that come with real estate investments. Being prepared will better ensure your success.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

Median Home Prices Continue to Increase

As reported on Monday by MDA Data Quick, San Diego County’s median home price has increase from 6.9% a year ago to 15.8% this March. Of the six Southern California Counties, San Diego had the most significant increase, followed by Ventura County at 15%. Economist say these numbers can be considered indicators that housing plunge is mostly over, but because of rising interests rates and slow job growth, the general upturn is not likely soon. When the figures are examined more closely it becomes evident that the increase reflects a change in the types of properties being sold. Sales were up for the 21^st consecutive month, as transactions involving higher-priced properties broadened the market beyond low-cost starter homes.

Over all, the Southern California area experienced a 14% increase from last March to a median of $285,000, further evidence of the region’s real estate market stabilizing. Some economists attribute the rapid increase to the federal government stimulus policies and tax credits, which seem to have been successful. The problem is the policies are coming to an end, and when they do, there is a fear of another plunge in the market. Even if the economy improves, housing will not necessarily improve with it. While individual property values are not changing, there is a general feeling that since there is no longer deterioration in home prices, things are looking up.

Sales across the region totaled 20,476 up 5% from last year, but still below the 23 year average of 24,936. With 3,227 of those regional sales from San Diego and 6,747 from Los Angeles, it is obvious that demand for housing is not rising consistently throughout the region. Although, San Diego’s median home prices are rising at a more rapid rate than Los Angeles, and there is more of a trend of high priced homes being sold in San Diego. According to John Walsh, President of DataQuick, more sales activity will not take place until lending patterns normalize.

While median home prices and sales have seen improvement in the Southern California Region, and more specifically San Diego, homeowners and buyers are beginning to become more optimistic about the future of the housing market. However, economists warn to not let the current trend fool you into believing your individual home has increased in value. Despite the fact that indicators seem to show stabilization in the real estate market, after two years of sales increase we are still below the sales average, which is a reflection of just how bad things were. After such a deep plunge, full recovery is far from near. 

Thinking of selling? Call me today.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

Rental Tax Measure for Del Mar Homeowners

Del Mar is a popular vacation destination for visitors attracted by the beautiful beaches and Fairgrounds. With the summer season approaching the City Council is bringing a new measure to the ballot that will surely affect these vacationers.

The Del Mar City Council voted unanimously to put the rental tax measure before voters on the June ballot. The new tax would require hundreds of Del Mar homeowners to obtain a permit from the city for short term rentals of their vacation homes. Currently the transient-occupancy tax applies to stays of 30days or less at hotels, lodging houses, apartments, and condominiums, but doesn’t include houses or duplexes. Nearby cities like San Diego and Encinitas have already extended the city’s hotel tax of 11.5% onto vacation rentals and duplexes, paving the way for the city of Del Mar. The measure would raise about $175,000 a year to help pay for beach and park maintenance, fire safety and law enforcement.

The San Diego Taxpayers Association opposes the rental tax, and has raised concerns that it will burden homeowners that already pay property taxes, as well as issuing a loss of property rights. Supporters of the rental tax measure respond by pointing out that the tax will not be applied to the homeowner, but will be include in the cost for the vacationer. This way there is no double taxation for the homeowner, only the responsibility to retrieve the permit from the city. Besides causing a bureaucratic inconvenience for homeowners, other opponents to the tax add that it is a bad time to raise taxes while most are struggling. Some do not see the need to purpose the tax now, since the city of Del Mar is not in a deficit with its revenues exceed costs over the past few years. Del Mar Mayor, Richard Earnest counters this in saying that the tax is a strategy to avoid future deficit instead of reacting to a crisis.

Given that all visitors and current residents benefit from the maintenance of the beaches and parks, and fire safety and law enforcement, it is only fair that the people renting vacation homes pay the same tax as those who stay in hotels. This summer is bound to be a busy time in tourism in Del Mar, and whether or not the tax is approved and implemented will be up to the voters this June. 

If you are thinking about selling or buying a home, please call Nick at 760-802-4166

Or you can e-mail me at Nick@mypfgroup.com

 

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

Posted via email from Nick Alameddin's

Homebuyer Tips to Get the Tax Credit

Time is running out to get the tax credit put in place by the government to encourage homebuyers to act fast. If you are serious about buying a home in San Diego, you need to be proactive in order to meet the deadline. The tax credit is worth 10% of the home’s sale price, up to $8,000 for buyers who have not owned a home in the past three years. Up to $6,500 for buyers who have owned and occupied a principal residence for at least five consecutive years during the eight year period that ends on the day the new home is purchased. With the current time constraint on homebuyers, there are a few guidelines to keep in mind to move the process along, and ensure the benefits of the tax credit on your purchase.

The buyer must enter into a binding contract to purchase the home on or before April 30^th of 2010. Since the term “binding contract” is not specified in the tax credit law, it may be open to interpretation. Therefore, there may be some flexibility as to whether the buyer qualifies depending on the terms of a signed agreement between both parties. The deposit check must also be in escrow.

Also, the purchase must close within 60 days after the binding contract deadline, so by June 30^th. Certain U.S. military, foreign service and intelligence service personnel are entitled to an extra year to receive the tax credit. This gives until April 30^th, 2011 and close by June 30^th, 2011.

It is important to be clear with your Realtor what your “must haves” are on the home you are looking for. There is no time to be wasted, and you want the best pick of houses and options to choose from when the time comes. Some buyers have expressed concern about the length of the current housing market process. Circumstances such as the sale of the buyer’s current home, inspections, and financing can be covered with contract contingencies to allow for more time to tie loose ends, but should not be the reason for delay once the deal is pending. The homebuyer may want to include a contingency in the contract to ensure it will close before the deadline, and you still qualify for the tax credit.

Lastly, don’t leave anything until the last minute. Something unexpected may arise, and you want to have cushion room in that case. Make sure the homebuyer is pre-approved for a mortgage, have homeowner insurance lined up, and allow extra time incase there needs to be a second appraisal. Keep in mind that short sales often take longer because they require lender approval, and if you don’t have an answer by a certain date, you may want to look at another home.

Disclaimer: We are not experts on the homebuyer’s tax credit and recommend you consult a tax professional before beginning the process. This is strictly my opinion and not professional advice.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

Posted via email from Nick Alameddin's

San Diego and LA Counties Only Areas to Show Price Increase

According to the Standard & Poor’s report that was released on Tuesday, San Diego and LA Counties were the only two of all the metropolitan cities to have price increase on their homes over the past year. The Standard & Poor’s Case-Shiller Home Price Indices tracks residential real estate costs in 20 major housing markets, including San Diego and Los Angeles, at a baseline of 100 set in January 2000, and without listing an actual average housing price.

 

The national figures covering the 20 major metropolitan areas were a monthly drop of 0.4%, a yearly decline of 0.7% and a 10 year appreciation of 45%.The monthly increase in San Diego was 0.4%, and from January 2009 to January 2010 the prices jumped 5.9%. San Diego’s pricing index of 156.95 is a reflection of the appreciation in value of nearly 57% in the past 10 years. In Los Angeles the monthly jump was 0.9%, and the annual increase was 3.9%. The Los Angeles pricing index is currently at 172.92, showing an appreciation of 73% over the past 10 years.

While things are looking up for San Diego and LA Counties, there is still concern for the housing market. From year to year homes continue to appreciate in value for all 20 major metropolitan cities, but the rebound in housing prices is not happening as quickly as one may hope. The number in home sales shows that the real estate market is still difficult, and there continues to be worry about the amount of current foreclosures as well as possibility of future ones.

      Nick Alameddin

     Broker

    C 760.802.4166

    F 858.455.0100

http://www.PremiereSD.com

    DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service. 

 

Posted via email from Nick Alameddin's

Improve Your Homes Sell-Ability

In today’s real estate market that is flooded with homes for sale, it is crucial that your home stand out. Here are some improvements that can be made that will get the attention of home buyers and increase your chances of selling your home.

First, maintain neutrality to make it easier for prospective buyers to picture their furnishings in the room. While a customized room may be perfect for you, a buyer will be distracted and may view the space as more work that would need to be done if they were to purchase the home. Also use the less is more approach to stage your home for showings. Although you may not have moved out yet, removing some of your furniture can make the rooms feel more spacious and allow more room for walkways. In addition, be mindful of strong smells and odors that can turn off potential home buyers. Our senses are linked to our emotions and memories. If your home has a bad odor it may stick out in the buyers mind in a negative way. In the days leading up to showings be aware of foods you may cook, pet smells, or cigarette smoke and take out the trash.

Paying attention to details can really end up paying off in the end. Simple fixes such as changing the hardware on cabinets is inexpensive, but can make a big difference. It is vital to make sure your home is squeaky clean for showings. Dust light fixtures and blinds, clean the refrigerator and bathrooms until they sparkle. Make sure shower curtains and bath towels are clean. Because storage space is important to home buyers, organize closets since they will be looking there.

Curb appeal is the first impression your home gives. You want it to look welcoming and presentable. Keep the yard trim and green. Adding a few plants or flowers can make a big difference, but make sure it is easily maintained. Also, try to keep your personal items out of view. These things may make your house a home, but to the buyer it makes it too personal. Remove mail, newspapers, laundry, and excessive family photos from view to keep potential buyers from feeling like a guest.

Lastly, take care of repairs and incomplete renovations. Instead of seeing the potential you home may have, the buyers will only focus on the cost of completing or repairing what you have not got around to doing. Save yourself the trouble and get repairs done before listing the home. These are all simple tips to help make your home stand out in a saturated market and increase your chances of selling it.


To find out more about selling your home, contact Nick Alameddin at 760-802-4166.
DRE License # 01426515

Helpful Tips for Seller's Negotiating

Preparing for negotiation can be a valuable asset for a seller. While it is a difficult subject for most, a good negotiator will get what they want and make sure there was no money left on the table that would have been theirs. Here are some helpful tips in the art of negotiation to help ensure you are not getting the low end of the deal.


1. The negotiation begins with choosing an agent and deciding on the appropriate commission. It is important that you base your decision not just on personality, but effectiveness. From there, know that commission is always negotiable. There is no set rate, so decide together what fair compensation is.


2. If you are in a desirable market, such as coastal San Diego, start a bidding war. Price your home competitively within 2-3% below market. This will create a buzz around your property and offers should start to flow in. You will remain competitive in the market and generate a lot of activity. This tactic involves pricing your home below market price in hopes that many offers will come in and result in a quick sale. This is one of the riskiest strategies, but can pay off in the right situation.


3. Once the offers start coming in, leave the negotiating to your agent. It is important to remain active in the negotiation, but stay behind the scenes and let your agent to their job. If no offers come in the first two weeks, even if you had many showings that means your home is over priced. Talk to your agent about possibly lowering your price a little more.


4. Get the conversation started. If someone comes in with a low offer, your counter offer should be a little lower to cause movement and show you are willing to negotiate. If it is a serious buyer they will stay and talk.


5. Remember it is not personal. A lot of times a first offer will be a low ball to test the waters and see how negotiable the price is. It is important that the seller not take it personally and get insulted, this hinders negotiation.


6. Keep it moving. The longer you can keep a buyer at the table, the more likely you are of getting a result that is satisfactory to you. When someone spends a lot of time on something they feel invested and are more likely to buy your property. During the negotiation don’t spilt the difference from the offer and the counter offer. This is bad for the seller because you are giving up too easy and leaving money on the table.


7. He who can walk away holds the cards. The power in negotiation goes to the side that has convinced the other they are prepared to walk away if they don’t get what they want. One way to do this is withdrawing the last offer. It can be risky, so only use it on someone who is grinding you away.


8. Adding a small concession towards the end of negotiation can help seal the deal. It will make the buyer think they have won. The size of the concession is not as important as the timing. It can be anything from moving a date to something more favorable to the buyer, to a piece of furniture they admired.



Nick Alameddin

Broker




C 760.802.4166

F 858.455.0100

http://www.PremiereSD.com

DRE License #01426515

If you know anyone looking to sell or buy a home, please e-mail me their name & phone number. I will gladly get them a great deal and provide them bar none service.