Americans Are On The Move! Are You Ready?

Barbara Whisenant  Barbara Whisenant Real Estate Group  BRE# 01357594

Solutions Real Estate

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Top 5 Reasons Why You Need a Realtor®

Barbara Whisenant  Barbara Whisenant Real Estate Group  BRE# 01357594

Solutions Real Estate

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May 2013 Statistics for North County San Diego County Homes

• The median price for all North County home sales - attached and  detached - increased to $485,000 in May 2013 compared to $470,000 in April 2013.
• Detached homes in North County rose 3.83 percent in May 2013 to $555,500 compared to $535,000 in April 2013.
• Year-over median SFD price in North San Diego County jumped 23.72 percent, compared to $449,000 reported in May 2012.
• Spring 2013 has reported the highest median prices in North County since mid-2008.
• The countywide median SFD price increased five percent to $420,000 in May 2013 compared to $400,000 in April 2013.
• Year-over non-North County median price jumped 21.74 percent compared to $345,000 in May 2012, a 14-month trend of year-over median price increases.
• The number of North San Diego SFD listings (active and contingent) rose 5.35 percent in May 2013 compared to April 2013.
• The number of sold North San Diego County SFD units increased 11.49 percent in May 2013 compared to April 2013. Year-over sold SFD units increased 12.54 percent compared to May 2012.
• Median days-on-market for single-family detached homes sold in North County decreased to 18 days in May 2013 compared to 19 days in April 2013.
• The HomeDex affordability percentage for all homes in North San Diego County decreased to 34 percent in May 2013, compared to 36 percent in April 2013.

Barbara Whisenant DRE# 01357594
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Ready to Buy or Sell a home in Carlsbad, Oceanside, Encinitas, Rancho Santa Fe, or La Jolla? Save up to $500 if you use me to help you buy or sell.

 

Search online at http://www.homes4salesandiego.com

Navigating Short Sales: What to Do When the Sale Price Leaves You Short

If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.

1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:

· Refinancing your loan at a lower interest rate

· Providing a different payment plan to help you get caught up

· Providing a forbearance period if your situation is temporary

When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if

· Your property is worth less than the total mortgage you owe on it.

· You have a financial hardship, such as a job loss or major medical bills.

· You have contacted your lender and it is willing to entertain a short sale.

2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.

A qualified real estate professional can:

· Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).

· Help you set an appropriate listing price for your home, market the home, and get it sold.

· Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).

· Ease the process of working with your lender or lenders.

· Negotiate the contract with the buyers.

· Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.

3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include

· A hardship letter detailing your financial situation and why you need the short sale

· A copy of the purchase contract and listing agreement

· Proof of your income and assets

· Copies of your federal income tax returns for the past two years

4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:

· If you have only one mortgage, the review can take about two months.

· With a first and second mortgage with the same lender, the review can take about three months.

· With two or more mortgages with different lenders, it can take four months or longer.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2008. All rights reserved.

Sincerely,

Barbara Whisenant

Click Here for the Latest in San Diego County Real Estate Statistics     

Click Here for this Month’s Newsletter

Richard Realty Groups, Inc.    Barbara Whisenant    DRE# 01357594

Southern California Associate Top Producer

   

“A referral is sending someone you care about, to someone you trust.”

Cell: 760-583-2107     E-Fax: 760-496-1649

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Appealing Your Property Tax Bill

Appealing Your Property Tax Bill

If your San Diego County property tax is aligned with or assessed based on the value of your home, a swing in property values could warrant close scrutiny of your property tax bill.

Some more progressive tax jurisdictions will make the adjustment for you -- up or down -- but most only move your rate up or they'll wait for the property to change hands before adjusting the tax.

Even where adjustments are automatic, you still may not be satisfied and will need to appeal the deal.

Over valued or over assessed property is perhaps the most common and successful grounds for challenging your tax bill.

When the economy is faltering and spawning foreclosures, short sales and homeowners otherwise bailing out of homeownership, consider it a red flag -- it's time to scrutinize your property tax bill.

Many homeowners bailout, accept the foreclosure or take the short sale way out because their mortgage is more than the value of the home, which may have fallen for a variety of reasons.

The incidence of incorrectly calculated property tax bills may also warrant a close inspection of your property tax bill or an appeal.

Many errors in calculating your property tax bill also stem from clerical mistakes according to the American Homeowners Association (AHA) which, along with the National Taxpayers Union, offers a low-cost kit to help you check our property tax's accuracy and, if necessary, attempt to lower your levy.

Visit the San Diego County Tax Assessors office  (http://arcc.co.san-diego.ca.us/default.aspx) and download the form “Application for Changed Assessment”.  Call me and I will send you the comparables you will need to complete the form.

Tell-tale signs your property tax could warrant an adjustment include:

• Errors in the description of your property on the tax bill.
• Compatible homes in the area that have sold for less than your appraised value.
• Neighbors with lower assessments on similar houses. Keep in mind some homes retain the same assessed value for years and assessed values often don't rise or fall in step with market values or home sale prices.
• Value reducers in your home or area, including drainage problems, easements, re-zoning, heavy traffic, nearby railroad tracks, freeways, industry or toxic waste.
• Depreciation factors, including the quality of materials, inefficient heating, structural cracks, deterioration, or chronic defects.

When you examine your tax records in the local assessor's or property tax office to make sure the information is complete and accurate also ask yourself:

• Did you buy your home in a bidding war? An overvalued property is an over assessed property.
• Are there errors in your tax records? Look closely at your records and make sure there aren't reporting errors. A condo listed as a single-family home, square footage that's off, too many rooms and more can falsely boost assessed value.
• Do the math. Many states put a cap on how much above the market value an assessment can be and how much it can rise each year.

If you need to appeal the assessed value and related property tax, prepare yourself for a time-consuming ordeal.

In most cases the process is free for taxpayers, but you may want to enlist the aid of a licensed professional to assist you.

Typically, you'll have to find three, five or more comparable homes in your neighborhood that have lower assessments. Obviously, the lower the better. Also, the more comparables, the stronger your case. Truly comparable homes are homes nearly identical to your home's floor plan, age, lot size, improvements and other factors.

The information is largely public and available, with some digging, from your tax assessor's or property tax office, but you can hire a real estate agent or other professional with access to your local multiple listing service. They can quickly generate a comparable market analysis of homes both recently sold and those in escrow to hone in on your home's true value.

An appraiser with multiple listing service access can do the same, as well as perform an appraisal of your home.

If you hire a professional you could be out a few hundred dollars. Don't make a case if you don't think it's worth the cost to appeal. Call me and I will send you the comparables you will need to complete the form.

Approach the appeal objectively, not with an adversarial chip on your shoulder. You only want your due, not to incite the property tax system.

If at first you don't succeed, be prepared to appeal to a higher authority.
Written by Broderick Perkins

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P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594

Curb Appeal for Home Owners

• 

  Landscaping for Curb Appeal

  A well-landscaped yard creates curb appeal and helps your property retain maximum value. Read
• 

  7 Gardening Mistakes to Avoid

  Novice gardeners can get their landscapes off to a healthy start by heeding some tried-and-true tips from the pros. Read
• 

  Lawn Maintenance Calendar

  Regular lawn maintenance gives your home maximum curb appeal and preserves the value of your property. Read
• 

  Save Money with Your Edible Garden

  An edible garden featuring vegetables and herbs can save you a bundle if you keep it simple and raise plants that offer high yields. Read
• 

  10 Tips for Saving Money in the Garden

  Smart landscaping strategies can save you money while they add to the curb appeal and value of your home. Read

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

 

Barbara Whisenant

Your Friend in the Business

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Read my Blog: http://www.barbarawhis.com

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Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594

May Real Estate Market information

California’s median home price up 21 percent in April from a year ago
California’s median home price—the point at which half of homes sold for more and half for less—rose 21 percent in April compared with a year earlier, but sales of existing, single-family homes declined 8.1 percent, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) April sales and price report

MAKING SENSE OF THE STORY FOR CONSUMERS

• The median price of an existing, single-family detached home in California during April 2010 was $306,230, a 21 percent increase from the revised $253,110 median for April 2009, C.A.R. reported. The April 2010 median price increased 1.5 percent compared with March’s $301,790 median price.

• Annualized home sales dipped below the 500,000-unit level for the first time in 19 months, which C.A.R. President Steve Goddard partially attributes to home buyers delaying the close of escrow to take advantage of both the federal and state home buyer tax credits.  “We should see the pace of closed sales edge up in May and June as these tax-incentivized transactions close,” he said.

• The number of homes available for sale also impacted total sales in April.  “The demand for attractive foreclosed properties well exceeds the number of properties on the market,” Goddard said.  “At the same time, mortgage interest rates continue to hover near their historic lows, and many buyers are out in force to take advantage of the combination of low interest rates and affordably priced homes. It’s an ideal time for many families to purchase their first home even though they may face stiff competition.”

To read the full story, please click here.

  CNN Money

Foreclosures plateau—finally.  Repossessions soar.
The foreclosure plague may have finally reached its peak in April 2010—but don’t expect delinquency statistics to plummet anytime soon.

To read the full story, please click here.

  CNN Money

Consumer confidence on the rise
A key measure of consumer confidence climbed for a third straight month in May, a research group said Tuesday, with the outlook for the next few months spiking to pre-recession levels.

To read the full story, please click here.

  The New York Times

For mortgage shoppers, less can be more
The Internet can help simplify many financial transactions, though not always when it comes to home mortgages.  Those who sign up for information at mortgage Web sites have found themselves receiving a flood of calls and e-mail messages from brokers and lenders soliciting business.

To read the full story, please click here.

  CNN Money

Nearly 75 percent of homes are affordable
It’s prime time for house hunters. Nearly anyone with a decent job and a good credit score can afford to buy in their home towns.

To read the full story, please click here.

  Los Angeles Times

What kind of homeowners choose to default?
People who walk away from their mortgages are not as calculating as you’d think, according to a University of Arizona law professor whose academic paper on strategic default last year drew sharp criticism from lenders and Wall Street.

To read the full story, please click here.

  CNN Money

Freddie and Fannie won’t pay down your mortgage
Pressure is mounting on loan servicers and investors to reduce troubled homeowners’ loan balances ? but the two largest owners of mortgages aren’t getting the message.

To read the full story, please click here.

Talking Points

• When purchasing a home, buyers are strongly advised to request a home inspection prior to closing.  However, consumers should note that the primary job of a home inspector is to conduct a visual examination of the physical condition of the house and certain systems within it.  Since the examination is visual, home inspectors are not required to remove carpets to ensure the floors aren’t warped, for example, and may not walk on the roof to check for defects.  Home buyers should interview home inspectors ahead of time to find out what they will and will not cover as part of the inspection.

• While a new home may seem to be free of any defects, many real estate professionals still advise home buyers to hire a home inspector.  According to one home inspector, nearly 15 percent of new homes have serious structural problems.  Additionally, newly constructed homes can be more difficult to inspect than existing homes.  A new home doesn’t have any history.  For example, because the plumbing has not consistently been used in a new home, small drip leaks may not be easily detectable.  A home inspection can alert buyers to defects, if any are present.

Source: SmartMoney Magazine
http://www.smartmoney.com/spending/rip-offs/10-things-home-inspectors-wont-tell-you/

 

Contact me for any of your Real Estate needs.

 

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Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

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Read my Blog: http://www.barbarawhis.com

Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594

Need Help With Anything Around Your House? Think Military

When I needed to move from one house to another, I went to a wonderful website where I was able to hire military men or women who were looking for a part-time job. It was a wonderful experience and I've highly recommended this website to many others.

I posted an ad that stated that I needed help moving furniture and boxes. I stated what I was willing to pay and when I needed the help. My phone started ringing off the hook. I interviewed several and I hired 4 wonderful young men. They all had already been to Iraq and back.

These young men loaded the truck, drove to the new house, and unloaded the truck, putting everything together and where I wanted it. All in under 4 hours. I never had such a smooth move!

I fed them pizza and soda. Yea I know, but I didn't know how old they were.

You can inquire about all types of trades and experiences. The website appears to be available in almost every state for both full time and part-time jobs.

Please, next time you need a job done around your house, think HirePatroits.com.
Go to http://www.hirepatriots.com/ You won't be sorry!

Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

Be my Friend on Facebook: Barbara Whisenant http://www.facebook.com/barbarawhis

Be my Fan on Facebook: http://www.facebook.com/homes4salesd

Linkedin: http://www.linkedin.com/in/barbarawhisenant

Read my Blog: http://www.barbarawhis.com

Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594

Weekly Market Updates for California Real Estate

  Los Angeles Times

What do buyers want in a home? Survey offers clues
A recent study of more than 22,000 homeowners who bought their homes within the last nine years found that current homeowners plan to be “more practical” in their next purchase, focusing on livable space rather than unnecessary upgrades.

MAKING SENSE OF THE STORY FOR CONSUMERS

• Many of the luxury amenities once considered necessities among home buyers, such as community clubhouses, dog parks, golf courses, and 24-hour security, are no longer priorities, according to the survey.  Repeat buyers also said a swimming pool isn’t a must, but a children’s playground with walking paths are essential.

• One of the takeaways from the survey, according to an architect firm, is that buyers nowadays should rethink space.  For example, buyers should look for kitchen cabinets that go all the way to the ceiling for added space and efficiency.  They also should pass on high-priced focal stairways, opting instead of steps that are tucked away and out of sight.

• Buyers also should be on the lookout for dead space.  If the dining room or media room is eliminated, at least some of the square footage should be dedicated to secondary bedrooms.  The once-standard 10-by-10 bedroom no longer is acceptable to most buyers.

• The survey also found that many buyers have transitioned toward green features, such as high-efficiency appliances, insulation, and windows that are not large areas of glass.  However, many buyers did not report the use of recycled materials as a necessity.

• Other findings from the survey show that large kitchens, with islands, are desirable, as are main-floor master bedrooms, and two-car garages.

To read the full story, please click here.

  The Mercury News

Government launches effort to help homeowners in short sales
The government launched a new effort Monday to speed up the time-consuming often-frustrating process of selling your home if you owe more than it’s worth.

To read the full story, please click here.

  The Wall Street Journal

Hold your breath: Borrowers could stay “underwater” for years
So-called “underwater” homeowners who owe more than their homes are worth could be holding their breath for much of the next decade.

To read the full story, please click here.

  The Sacramento Bee

California expected to cancel tax on forgiven mortgage debt
Relief appears imminent for thousands of Sacramento homeowners hit with state tax bills for mortgage debts forgiven in 2009.

To read the full story, please click here.

  Los Angeles Times

Sales of contracts for previously owned homes rise 8.2 percent in February
The number of previously owned homes placed under sales contract surged 8.2 percent in February, according to data released Monday, the first sign that the government’s extended tax credit for buyers may bolster sales this spring.

To read the full story, please click here.

  The Wall Street Journal

Cash dwindling for no-money down home loan program
A program from the Department of Agriculture’s rural development division, which offers no-money-down loans in certain parts of the country for low- and middle-income borrowers, is likely to run out of funding next month, just as a surge of buyers are expected to ink deals before the federal tax-credit expires April 30.

To read the full story, please click here.

  CNN Money

With caution, Americans still want a house
Nearly two-thirds of American would still prefer to own a home, although the recent housing market turmoil and uncertain economy have made them a little more cautious about how and when, according to a survey released Tuesday.

To read the full story, please click here.

  The Wall Street Journal

Homeownership for everyone?
With the subprime market in ruins, affordable housing advocates are looking at new ways to promote responsible homeownership for low- and moderate-income families.  While many policy makers would resign low- and moderate-income families to rental housing, a new study makes a case for keeping the door open to homeownership at all income levels.

To read the full story, please click here.

The Wall Street Journal

The ladies’ turn
Housing market watchers say builders are now strenuously working to win the hearts—and checkbooks—of female buyers.

To read the full story, please click here.

 

Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

Be my Friend on Facebook: Barbara Whisenant http://www.facebook.com/barbarawhis

Be my Fan on Facebook: http://www.facebook.com/homes4salesd

Linkedin: http://www.linkedin.com/in/barbarawhisenant

Read my Blog: http://www.barbarawhis.com

Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008

DRE# 01357594

Homebuyer Tax Credits is About to Come to an End!

 

 

$18,000 IN COMBINED HOMEBUYER TAX CREDITS

 

FOR A LIMITED TIME

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive.  Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.

Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010.  Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied.  The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)).  California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)).  Other terms and restrictions apply to both tax credits.

Setup your own home search at Barbara’s Web Site.

Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

Be my Friend on Facebook: Barbara Whisenant http://www.facebook.com/barbarawhis

Be my Fan on Facebook: http://www.facebook.com/homes4salesd

Linkedin: http://www.linkedin.com/in/barbarawhisenant

Read my Blog: http://www.barbarawhis.com

Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594