My San Diego Real Estate Blog

a client recently that is relocating to san diego wanted to have us help them find a home. "we will be moving in the next 90 days." Well as luck would have it they found the home of their dream in point loma, a popular area for san diego real estate.

"What do we do?", they asked. "We haven't listed our house back home yet."

Well there are many ways to do this. Make the contract on your new home contingent on your old home selling.Another is to ask for a longer time to close the deal on the new home.Some sellers wont go for the contingency but they will go for a longer time to close. You might have heard the term "90 day escrow"?

Another way to feel more comfotable is to look at the bigger picture to see worse case scenarios of keeping the property and renting it out till it sells. "We were surprised, we didn't expect to keep the house but the payments on it were lower than the rent we could get. Now we have a positive cash flow AND the tax advantage."

Lastly, you could change your financing terms on the new house so you put less down and hold on to a few payments to cover the time it will take to sell.

There are many other techniques that an experienced real estate agent knows about.If its not us then be sure to find the team that knows, it will save you allot of stress.

The market has been hot the last few years and you would think that the you couldn't find a deal in san diego real estate.

That goes double for buying a fixer upper in san diego. But don't sweat it. As the market dips there will be people selling all types of homes, fixer uppers included.

There are some Insurance Companies that are trying to rip off customers by telling clients that because their credit score isnt high enough they are justified to charge you more.

This is appauling in our opinion. This is clearly another "tobacco company" tactic where the credit bureaus have colluded with the insurance agencies and they think they can pull a fast one on you.

Just in case you think its a good idea lets look at it. Insurance companies say that credit scores affect whether you have a fire or waterdamage or catastrophe. Hmmm.....really? does god know this? Let me tell you that before this I was in finance for over 20 years and you would be surprised that some prominent people walking around you have low scores. Credit scores have only been around since the early 90's and were made up from 3 companies that have conned the world into believing in them.

Why? because lenders make more money if your "scores" are "low." Before 1993 lenders used general guidelines to approve or not approve. Back then the credit bureaus served up the propaganda that THEIR system would reduce losses for lenders from making bad loans.

Well its been ten years and guess what? Lenders losses ratio HAVE NOT declined. So why haven't lenders stop using them? BECAUSE THEY MAKE MONEY WITH IT! You believe them when they say "hey its your score"

The credit bureaus are making more money than ever from their marketing scam and now they have gone into cahoots with the  insurance companies. Why? Think about it.

The tell the insurance companies "look at how successful it works for auto and mortgage lenders", why wouldn't they jump on it and try to work you.

Use your driving record to determine your auto insurance rate? absolutely. Have a national reporting service showing how many homw insurance claims you have had in the last 5 years? why not.

But to use your credit report? There is ABSOLUTLEY NO correlation between your credit score and if you will have a fire or a hurricane.

There are no independant studies that support any of the promotional material the credit bureaus use to con the insurance companies or what the insurance companies regurgitate in order to con you.

We are SO tired of real estate "experts" (who have never sold real estate or have only been around during the boom) that say that real estate market bubble popped and there is doom an gloom in real estate.

Right now is the best time to sell and buy real estate! Not because we need the cash but for some very unbiased reasons.

The market was so good because allot of people took their money out of stocks and put it in speculative real estate because it was the equivalent of "money making for dummies"

But the market is softening NOT because people are not buying homes, its because investors are starting to pull their money back out. Its their nature to act like they do in the stock market when they see their rate of return not as good as it has been? they back out and let real home owners pay the price for running up the market

More and more we are seeing gated communities being built in san diego. Rancho Santa Fe and La Jolla used to be the only gated communities but now they are everywhere.

Gated areas give security if they are managed right but we found that homes in gated communities in san diego have higher resale values.

oh boy, so many people are getting bothered by the softening of the real estate market here. We have been in San Diego real estate since the 80's and this is normal.

Some real estate agents and mortgage people will seem panicked and try to get you concerned. Don't listen. The one's that are freaking out? haven't been in the business long enough, we have. Back in 92 this happened, the "newbie"real estate agents and mortgage people freaked then too but the house that agents "scared" clients into selling at a loss now is worth 3 times what it was then.

So dont let people that have only been around a few years tell you otherwise.They are psyching themselves out over the market shifting and about to go back to whatever they did before real estate and want to get you to whats right for their pocketbook. Look long term now and you will be OK