Hwy 5 widening coming to North County?
June 4th, 2010 Categories: San Diego County Community News, San Diego county Real Estate News
CARLSBAD- I have a client that has been considering a home in Encinitas that is relatively close to the highway 5. In an email today they asked if I saw the article in the newspaper regarding plans to widen the freeway from the 5/805 merge to the Oceanside harbor.
I had saw the article and have heard about this plan for several years now. I actually attended a community forum in 2006’ish and left there with no new information as everything was conceptual. They truly had no answers to most questions.
The community forum meetings regarding this improvement started in 2004 and in 2006, the project was expected to cost approximately 1.1 billion dollars.
The $1.1 billion project would expand I-5 from eight to 14 lanes and would add new car-pool lanes from La Jolla to Oceanside. Widening the 26-mile stretch of freeway from Mira Mesa Boulevard at Interstate 805 and Genesee Avenue to Vandegrift Boulevard at Camp Pendleton isn’t expected to begin until 2009 and wouldn’t be complete for at least five years.-NCTIMES, March13,2006
Unfortunately, the price tag for the San Diego freeway widening project has more than tripled and may cost as much as 4.5 billion dollars according to the San Diego Union Tribune article.
While I realize that there is money allocated for this project through special half cent sales tax, the project will need additional state and federal funds which can be huge problem given the current state of their respective budgets. The state of California is having trouble funding 
education and keeping basic services open five days a week.
What would be great to see would be making our local communities more livable thus reducing the need to drive to other areas for services, entertainment, retail, jobs, etc. I experienced a dramatic shift in traffic conditions when gas hit $4.00 a gallon. It was apparent many people thought about their driving habits.
I also notice the impact UCSD has on traffic on the 5. You know when school is out for breaks and when it starts in the fall. It’s too bad we can not figure out better mass transits to destination location such as UCSD and the Del Mar fairgrounds. There has been discussion about a seasonal Coaster platform at the fairgrounds. We could incentivize the use of mass transit with special admission pricing for those that take the coaster. There could be a dedicated gate for use by Coaster passengers only.
Californians and their cars.
| Currently No Comments »
Closing escrows!!
June 1st, 2010 Categories: Real Estate News
SAN DIEGO- Here is a Pacific Beach cottage we recently closed escrow on. It is a great little 2 bedroom 1 bath that the previous owner did a great job renovating top to bottom, inside and out.
If I can help you find your ‘cottage’, call me at 760.415.3329
| Currently No Comments »
Triathlon entry raffle winners
May 25th, 2010 Categories: San Diego County Bike Rides, San Diego County Triathlon Race Reports
TRIATHLON CLUB OF SAN DIEGO-
With the help of RANDOM.org these four subscribers to my blog have won entries to either the Camp Pendleton Sprint Triathlon, Carlsbad Triathlon or the Mission Bay Triathlon.
- Camp Pendleton- jnomini@
- Camp Pendleton- threet@
- Camp Pendelton- shawn.moran@
- Mission Bay- krebs.philippe@
- Carlsbad- dhuntley@
Send me an email and I will take care of your entry. Winners have until Friday night to contact me and then the entries go back in the pot.
| Currently No Comments »
MORTGAGE RATES HITTING RECORD LOWS!!!
May 24th, 2010 Categories: Real Estate News, San Diego county Real Estate News, San Diego homes for sale
SAN DIEGO- In the last 6 to 8 weeks there had been quite a bit of talk regarding the potential rise of San Diego mortgage interest rates throughout this year. Most analyst predicted rates to rise with at or above 6% being the norm by the end of the year. But then the EU turmoil kicked in.
In what can be looked at as the silver lining from other’s misery, the financial crises in some EU countries is having a positive impact on our mortgage interest rates.
Europe’s debt crisis is behind the drop. Nervous investors are flocking to the security of US Treasurys, which pushes down their yield and influences a host of consumer interest rates—including those on mortgages.-cnbc.com
Just how much impact are these troubled times having on our mortgage interest rates? How about the LOWEST 15 year mortgage rates, 4.24%, since Freddie Mac began doing its rate survey which started in 1991.
The 30 year no point mortgage was quoted last Friday at 4.86% which is the lowest benchmark rate recorded by BANKRATE.com since they started 
tracking the data in 1985. For those willing to take the gamble, many in the mortgage industry predict that rates may bottom out in the mid 4% range this summer.
"It’s schizophrenic. We all had this expectation of higher interest rates and no more refinances." He says he helped a borrower lock in a 30-year loan with a 4.25% fixed rate last week, the lowest in his 24 years in the business.-Jeff Lazerson, chief executive of Mortgage Grader
Yes the federal tax credit has ended, but this is a great opportunity to secure financing that will benefit you for years to come. It is still a great time to be a buying real estate.
| Currently No Comments »
Wednesday is the new Saturday 45 miler
May 18th, 2010 Categories: San Diego County Bike Rides, San Diego County Community News, Triathlon Club of San Diego Race Reports
ENCINITAS- Well with only 6 weeks left before Ironman Coeur d’Alene I wanted to get in a two loop ride emulating the bike course at IMCDA. Here it is.
We will be leaving my office in Encinitas, Sea Coast Exclusive Properties, at 9:00 if you would like to come along.
| Currently No Comments »
If it sounds to good to be true….
May 15th, 2010 Categories: Real Estate News, San Diego County Community News, San Diego County Fixer of the Week, San Diego county Real Estate News, San Diego homes for sale
SAN DIEGO- I do not know how many times I have had to explain to a client that the price they see listed on a short sale is not necessarily ‘real’ and that they still need to consider the comparable property values. When the news is screaming about how depressed the real estate market is it is EXTREMELY difficult to convince a client that they need to pay MORE than the asking price.
Often homes that are being sold short are listed well undervalue. The listing agent uses the fact that they do not have access to the decision maker, the bank, in order to determine what the bank will accept. I understand this and realize ‘short sales’ are a pain in the neck, but there is being realistic in your pricing and there are times when pricing is just irresponsible.
Take the home pictured as example. It was originally listed at $280,000, which would be the deal of the century. The listing agent priced it almost 50% below what the bank determined was the value of the home and they are now waiting on an offer at or close to $410,000.
If you are currently looking to purchase a home(call me), you do need to investigate and consider short sale listings. However, please take a look at the comparable sold homes and try to be realistic in your expectations. The bank will be doing there due diligence to determine market value of the property so they do not make blind decisions. If you have to write an offer $100,000.00 over the asking price don’t worry about it if you really want to try to get the home and the value is there.
| Currently No Comments »
Checkout my latest listing
May 15th, 2010 Categories: San Diego County Community News, San Diego homes for sale
This is a great 5 bedroom home in South Carlsbad’s La Coast Valley. Close to the beach, Carlsbad’s Forum Shops, the Encinitas shopping district, Encinitas Ranch Golf Course and more.
| Currently No Comments »
Encinitas Sports Festival and Triathlon
May 13th, 2010 Categories: San Diego County Community News, San Diego County Triathlon Race Reports, San Diego county Real Estate News, Triathlon Club of San Diego Race Reports, What to do in San Diego
ENCINITAS- Once again Encinitas plays host to the county’s runners, cyclists, paddlers and triathletes with this and next weekend’s Encinitas Sports Festival and two sports festival expo featuring 40+ booths full of the latest in sports, fitness and health.
The weekend of the 15th and 16th is all about the beach starting with a 5K run on Saturday morning starting at the Moonlight beach parking lot, which is also the site of the expo. Also on Saturday will be the 3 and 6 mile Encinitas ocean paddle competition with 6 divisions.
On Sunday, the triathletes and swimmers get their day with a sprint triathlon and 1 mile ocean swim. The Encinitas triathlon features two distances. The sprint distance race, 750m/20k/5k, or the super sprint, 375m/10k/2.5k or for those that are not swimmers, there is the duathlon option which is a 1.5k beach run, a 10k bike leg and then a 2.5k run.
The following weekend, Saturday the 22nd, the cyclists have their day with the San Diego Century Bicycle Tour. This event, starting at Mira Costa College’s San Elijo campus in Encinitas features three distance rides of 37, 66 or 103 miles which takes participants east to Ramona. A great feature of this event is the organizers commitment to the environment making this a green ride. Their efforts include, but are not limited to;
Recycle and correctly dispose of all event waste Avoid use of plastic bottles, bags and containers Arrange for surplus food and clothes to be donated to local organizations for re-use Work to make all rider benefits re-usable incent riders to participate by arranging benefits; i.e.; preferred parking for share rides; discounts for riders who “ride in-ride out”. Register, support and work with local Environmental Organizations
So whether you bike, run, swim, walk, paddle or volunteer, the Encinitas Sports Festival has something for everyone.
| Currently No Comments »
Wednesday’s the New Saturday 70 miler
May 3rd, 2010 Categories: San Diego County Bike Rides, San Diego County Community News, What to do in San Diego
ENCINITAS- This weeks ride will start at my office, Sea Coast Exclusive Properties 900 S. Coast Hwy, Encinitas, and head east. We will be doing 70 miles taking Del Dios out to Valley Center to visit Circle R and W. Lilac and then head home down the Oceanside bike path and the coast. Heading down the coast will be a great opportunity to flush out the legs as when we get back there will be a 40 minute transition run. Ride time should be about 4.5.
The ride will start at 8:00 am, not our normal 9:00.
Any questions, I can be reached at 760.415.3329. Real estate questions are greatly appreciated as well!!
Hope to see you there!!
Wednesday’s the new Saturday 70 miler
Find more Bike Rides in Encinitas, California
| Currently No Comments »
Life after the home buyer’s tax credit
April 30th, 2010 Categories: Real Estate News, San Diego county Real Estate News, San Diego homes for sale
SAN DIEGO- Well I woke up this morning to sunshine and Dave my golden retriever wanting to go for a walk. Obliviously neither knew the opportunity to take advantage of the $8000 home buyer’s tax credit ended overnight. Maybe it was they knew the state of California’s home buyer tax credit of $10,000, or 5% which ever is lesser, was kicking in, but either way, the world did not end overnight and I do not expect it to as it relates to my business.
Firstly, if you have any plans of taking advantage of the $10,000 tax credit offered by the state of California you should hurry. Most everything I have read predicts the funds for this credit will be gone by the end of May. This is certainly no reason to buy a house, but if you are in escrow and can close early, you may give taking that action strong consideration. Closing the day after the funds run out would stink. If you are already in escrow, read the link above and send in your application now.
Taxpayers may apply for the tax credits if they have entered into a contract before May 1, 2010, as long as escrow closes on or after May 1, 2010.
Also, there is a military exemption to the federal home buyer’s tax credit that is often not mentioned and with numerous military installations here is certainly worth highlighting.
The one exception is for members of the military, foreign service, and intelligence communities, who have served on official extended duty outside of the U.S. for 90 days or more between January 1, 2009, and April 30, 2010. They have until April 30, 2011, to sign a sales contract, and until June 30, 2011 to close.
While I do not have data to back up my beliefs, I do not see the loss of the tax credit having much impact on the markets I serve. There was an article in today’s North County Times titled ‘BUYING FRENZY; First-time home purchasers rush to take advantage of federal tax credit.” They quoted quite a few people who spoke of the impact on their markets and stated some positive data, but the article looked at the national picture where in many areas $8,000 is a nice chunk of a home purchase. In our area, because the incentive was 10% of the purchase price or $8,000 
whichever is lesser, I would say the credit would have had a much greater impact if you could have received $25,000. This would have been more comparable to our market prices versus the $8000 on a national level.
Now there already are some indications that some softening in pricing is already occurring. The Case-Shiller index for February was recently released and the San Diego region was the only region to post pricing gains out of the entire index. So is this a national trend that will not impact us locally? That’s hard to say, but I am starting to see more ‘traditional’ listings coming on the market with reasonable expectations. With the summer buying season coming we may weather the next several months well. We’ll need the help of low mortgage rates, which I feel have always influenced our market more than the tax credits, and have a commitment from the FED to keep them low, but there will be some upward movement.
Lastly, what could be the start of a positive trend to drag us out of our real estate bottom is the increase in the San Diego county population. More bodies means more housing demand and whether it is in the rental sector or ownership this is statistic generally translate in to home price appreciation. The San Diego Union Tribune, which I subscribe to, reported a 1.2% gain from 2009 to 2010.
| Currently 2 Comments »
