Saturday, May 15, 2010

Southern California Home Prices and Sales Continue to Rise

Home sales across Southern California were higher in October as prices seem to be stabilizing. Between Los Angeles, San Diego, San Bernardino, Riverside, Ventura, and Orange Counties, there were just over 21,500 home sales last month, which is almost 3 percent higher than the numbers from a year ago. It marked the sixteenth consecutive month with a tear over year increase in sales for the region. The median price for a home in the 6 county region has gone up every month since reaching a seven year low in April. Search La Jolla Homes for sale

Friday, November 20, 2009

La Jolla Bank Troubled Over Bad Loans

La Jolla bank has been ordered by Federal regulators to raise more capital after the bank has suffered an increase in delinquent loans over the last few months. The Office of Thrift Supervision has directed the privately held bank to acquire more capital and take steps to better its operations. The bank’s chief executive has hired an investment bank and hopes to raise close to $150 million. The bank is based in Rancho Santa Fe and currently has $3.8 billion in assets. It is designated “well capitalized”, the highest such distinction, under federal guidelines.

Tuesday, August 25, 2009

San Diego Home Sales Increase Compared to '08

Home sales in San Diego jumped to twelve percent compared to last year, while prices dropped almost fifteen percent. I just posted an article on my San Diego real estate news section on my website. Read the entire article.

Monday, August 24, 2009

Median Sales Price for Southern California Rises Again

Southern California home sales for July were 20% lower than July 2008. The median
price of homes for the region rose from June to July, the third consecutive monthly
increase. The median is just one percent above June’s median, but still 22% below
July of 2008.
July home sales across the six counties of Southern California totaled more than
24,000. Still almost 9% lower than the average number of home sales in July since
The increase in sales can be attributed to the lower prices, lower interest rates,
abundance of FHA backed loans. Foreclosures accounted for about 44% of all sales in
July, the lowest percentage in 13 months. The highest proportion of foreclosures to
home sales was 58% in February.

Search La Jolla real estate, or Downtown San Diego condos

Tuesday, August 11, 2009

Local Home Builder Going Under

A local home builder, Barratt American, switched its bankruptcy filing from Chapter 11 to Chapter 7 last week because the company’s creditors claimed that any attempt at reorganization would be unsuccessful.

Through June, there were only 908 building permits issued in San Diego County, compared to 1,409 from January to June 2008. During the hpising boom, in 2005, there were 4,795 permits issued through June. Yet, surprisingly, Barratt is one of just a few builders to go under. Barratt is chiefly known as the developer for the master-planned Fanita Ranch community in Santee. Approved for 1,400 homes in 2007, the community is in jeopardy itself. The two mortgage holders are currently in the beginning stages of foreclosure. Search La Jolla foreclosures, or other La Jolla real estate

Friday, August 7, 2009

Coronado Naval Base Going Solar

Synergy Electric Company, Inc. was awarded a $3.93 million contract to install roof-mounted solar power systems(SPVPS) at Naval Base Coronado, as part of the American Reinvestment and Recovery Act.

The company will be installing more than 133,000 square feet of SPVPS on three buildings at the base. The project includes the demolition of the existing roof, installation of the new roof, and installation of the SPVPS.

The SPVPS will supply electrical power to the buildings and divert the excess power back into the local civilian power grid. The work is scheduled to be completed by January next year.

Thursday, April 23, 2009

All the Home is a Stage

Well, I finally found someone in San Diego to repair my computer. My hard drive blew and I had to have data recovered. So, I finally have some time to write this post. Ok, here we go. What is staging? And why do you need it? If you need to sell your house quickly whether because of a new job, a divorce or if you are simply upgrading to a larger home then here are some tips to attract buyers as soon as possible.
Experts agree that sellers in a buyer's market have to take the extra steps to make their property stand out from the others. Buyers need to feel an emotional connection immediately upon entering a home, and then they will desire to continue to tour the home as opposed to hesitation.

Since there are fewer qualified buyers in the housing market today, then sellers need to get serious about presenting their property much like a stage. This is not to be confused with decorating. Decorating shows the skill and personality of the home owner, while Staging showcases the property for the potential of the home for the new owner. This is showcasing the personality of a home and you are looking for a match for a potential buyer. For example décor, art, and the use of color are all exhibiting the style of the owner, not the home, and should be downplayed to find the charm of each property.

When the new homebuyer finds the personal connection to a home, then they get excited and when buyers get excited they make higher offers. There are persons offering professional staging services available for hire. The money spent hiring a professional can actually help people save money at closing. A typical consultation fee can be in the one hundred dollars to two fifty range, depending on the time the stager invests, the location and size of the home. Some expenses stagers incur are furniture rentals, and thus this can result in a monthly charge as well as the initial consultation fee.

This is one of the most important issues that involve staging a home. An empty house has negative connotations and imagery of abandonment. Filling the home with furniture shows the potential buyer the hope and expectations of the homes. Showing the buyer a furnished home creates for the buyer the sense that there are many possibilities and the home can come to life with expectations of success, style and nesting. Leather furniture can make a nice addition. Sometimes something as simple as a contemporary leather sofa can do the trick.

The use of color has been mentioned as an expression of personal style, therefore professional stagers recommend only the use of neutral colors. This allows the buyer to see a blank canvas for their imagination, as opposed to crashing the deal because a buyer does not connect emotionally to a colorful pallet, or specific décor. For example, if there is a singing fish on the wall, then the buyer's main impression of the home is associated with a singing fish, which can be detrimental to the sale if the buyer can not get past the memory of the fish. The sale can tank especially if the buyer has an unhealthy fear or dislike for fish. But this is the concept of neutralizing the pallet of the home.

One of the final things sellers need to be aware of in order to stage the home for a quick sale, and one of the best reasons for staging at all is the Distressed Seller. When a home is being sold under distress, due to foreclosure or divorce or for any other less than optimal reason, then this sense of desperation and disarray translates in to the ambience of the home. Staging is a way distressed sellers can correct the negative energy, project the inherent value and sell the home.