Great News for First-Time Homebuyers

Don’t let rising real estate prices discourage you from purchasing your dream home.

With an average San Diego home price of $500,000, buying a home can appear to be out of reach for many first-time homebuyers. Thankfully, Fannie Mae and Freddie Mac decided to make some changes to help them out. The minimum down payment on conventional loans up to $417,000 was reduced from 5% to 3%. FHA also reduced their mortgage insurance premiums by .5%. For example, the monthly mortgage insurance is now $307.59 instead of $488.53 a month on a $450,000 home with 3.5% down.  That savings equates to $38,000 in purchasing power! This is a welcomed discount for home buying in 2015.

Give me a call today and together we can find the best real estate options for you.

Information courtesy of Jennifer Lund.  Statistics courtesy of SDAR.

Coastal Market Update – December 2014

Coastal Trends Dec 2014

In December

Homes for Sale: 1605 units

  • Down 16.3% compared to the last month
  • Up 10.8% compared to the last year

Homes Closed: 604 units

  • Up 20.1% compared to the last month
  • Up 1.5% compared to the last year

Homes Placed Under Contract: 448 units

  • Down 23.2% compared to the last month
  • Up 0.2% compared to the last year

Average Days on the Market: 52

Average Price Per Square Foot: $431

Average Active Price: $1,829,000

Average Sold Price: $924,000

Months of Inventory – Closed Sales: 2.7

Months of Inventory – Pending Sales: 3.6

Statistics courtesy of Trendgraphix.

Just Sold! 3405 Jefferson Street in Carlsbad

I am excited to announce the closing of 3405 Jefferson Street in West Carlsbad.  The residence sits on a spacious, completely fenced lot and features 2 bedrooms plus an optional 3rd, beautifully remodeled kitchen, wood floors, pool, pool house/changing room, entertaining deck, lush landscaping, an automatic gate, and is just 4 blocks from Carlsbad Village and the ocean.  Can’t wait for the pool parties at this one!

Although beautifully remodeled, this house is very old (built in 1948) and there were many issues that arose during the escrow.  Fortunately, I have a large amount of experience working with older homes and all sorts of older home issues: pier and post foundation work, deteriorating cast iron pipes, knob and tube wiring, property line encroachments, asbestos, mold, termite damage, etc…

With a little explanation, help, and high-fives from me, my clients were successfully able to navigate through the inspections and request for repairs in a stress-free way and went on to a smooth close and wonderful new home.

For more information on this area of West Carlsbad or for a no-obligation analysis of your home, please contact me.  I’d love to meet you!

Photos courtesy of Keller Williams Realty.