by Linda Daniels
on February 3, 2012
in Blog, Real Estate News, Real Estate Tips
The majority of young adults from 25 - 35 live with their parents today and are being advised by their parents to buy their own home.
Some parents want their children to take advantage of the low rates and to start building their long-term investments. Below are the top 4 reasons why they would want them to buy a home (From Fannie Mae's recent National Housing Survey):
1. It means having a good place to raise children and provide a good education.
2. You have a physical structure where you and your family feel safe.
3. It allows you to have more space for your family.
4. It gives you control over what you do with your living space (renovations & updates).
Here are also some positive things that some experts are saying about housing prices:
MSNBC
“...Someone who plans on staying put for seven years would come out ahead by about $9,000 if they bought a median-priced home rather than being a tenant in a median-priced rental.”
U.S. Department of Housing & Urban Development
“Homes today are more affordable for average families than they have been since 1971. Median-income families today have nearly double the funds needed to purchase the average home.”
Parents always want what's best for their kids, and now they want their kids to embrace the low housing prices and reap the benefits.
by Linda Daniels
on February 3, 2012
in Blog, La Jolla Real Estate, Real Estate News, Real Estate Tips
Dr. Johnson is a well-known scholar (Florida International University) with numerous publications in real estate brokerage, transactional real estate, and real estate investment as well as the editor to the "Journal of Housing Research". Today we will show his Buy vs. Rent graph on how much rent is actually preferred to over buying.
The red line shows the percentage probability that renting will be preferred for accumulating wealth ONLY assuming that the renters reinvest their savings, which is the difference between the rent and mortgage payment. In this scenario, renting is preferred.
The blue line shows the results for preferences when renters are not reinvesting their savings and are allowed to spend any residual income. In this scenario, ownership is preferred because they are realistically more likely to reinvest and accumulate more wealth overall.
So how do you accumulate the most wealth? If you are a strong saver and will reinvest your savings, renting would be the best route to take. If you don't have what it takes to continually save and reinvest, then ownership is the path you should take.
by
on February 2, 2012
in Blog, La Jolla Events
February is Museum month in San Diego. For the entire month of February, visitors will receive half-off admission to over 40 San Diego museums. Three of these museums are located in La Jolla and are offering this exciting deal! The three participating La Jolla museums include Birch Aquarium at Scripps, La Jolla Historical Society and the Museum of Contemporary Arts San Diego, La Jolla.
To obtain the discounted passes to the participating local San Diego museums, visit a Macy's location in San Diego County, Temecula and Imperial Valley. Up to four visitors can gain admission to any of the participating museums with a single pass. The closest Macy's in La Jolla is located at Westfield UTC, located on La Jolla Village Drive.
For more information on this exciting La Jolla event, click here.
by Linda Daniels
on January 31, 2012
in Blog, Real Estate Tips
Two economic experts, John R. Talbott and Chris Thornberg, have been giving us the go ahead to buy a home in 2012.
We mentioned John R. Talbott in a previous blog post, John R. Talbott's Prediction: "Now is the time to buy!" and now Chris Thornberg is rooting along for home buyers. In Jeff Collins' recent post he expresses the change of opinion that Thornberg has announced about the real estate market and the economy in general. Collins was pessimistic about the real estate market in 2007 and did not believe it would turn around by 2012. However, he said that now is "a great time to buy a home. If you have been thinking about buying a condo...buy now". Thornberg also is quoted for saying "this is going to be a good year...You are going to see pops in all sectors. Yes there are some bumps out there, but this is as optimistic as I've been in a long time."
It is nice to hear a lot of expert optimistic views on the real estate market so soon in this year.
by Linda Daniels
on January 31, 2012
in Blog, Real Estate Tips
Today we would like to mention Warren Buffet and his advice on investing in a home. In the Omaha World Herald, Steve Jordan wrote about one woman who is from Arizon and in her mid 30's who has received and acted on Buffet's advice. The woman said that she was thinking it was a good time to buy a home and that Buffet told her it would be the "best opportunity [of her] lifetime." She added that mortgage rates are very low and prices have decreased enormously, and agrees with Buffet's opinion of America's financial future that this country will turn out just fine. "I'm happy to make this investment," she concludes.
Maybe this advice can be applied to all of us, and that right now is an opportune time to invest in a new home!
by
on January 27, 2012
in Blog
If you love cinema and live in San Diego, there is a very special event happening just for you. The Reading Cinemas in downtown San Diego's Gaslamp Quarter is sponsoring the 10th annual Black Film Festival going on now. The San Diego Black Film Foundation is hosting this one of a kind event. This San Diego foundation is a nonprofit organization that preserves and promotes African American and African Diaspora cinema as well as media arts education. The San Diego Black Film Festival is one of the largest black film festivals in the county and screens over 100 comedies, dramas, documentaries, animation and horror films, as well as many other genres. Many of the films that will go on to be successful are premiered here at the San Diego Black Film Festival since the event is held so early in the year. Be among the first to see some amazing cinema! The San Diego Black Film Festival runs now through January 29th.
For more information and to purchase tickets, click on: http://sandiegoblackfilmfestival.com.
by Linda Daniels
on January 24, 2012
in Blog, La Jolla Real Estate, Real Estate News
This year, many experts believe that the real estate market will improve. Here are some examples of what the experts have to say:
Andrew Scoggin states that economists at Fannie Mae predict a 3.5% increase in home sales for 2012 in his article.
In Julie Schmit's USA Today article, David Crowe (cheif economist at the National Association of Homebuilders) is quoted that "there's now more evidence of improvement in the economy, and housing will follow the economy," and more improvement is to be expected for home sales and construction.
Carrie Bay with DSNews.com expresses in her article what Mark Fleming (the chief economist for CoreLogic) has to say about the real estate future for 2012. Fleming says that "housing statistics and the duration of the downturn to date indicate 2012 may be the year the housing market begins to turn the corner.”
Finally, The Washington Post mentioned that "the average rate on a 30-year fixed-rate mortgage hit a new low of 3.88 percent, raising hopes that the housing market will continue to strengthen".
by
on January 24, 2012
in Blog, Real Estate Tips
Location is everything when you are buying a home. According to a recent survey by the National Association of Realtors, homebuyers said that the qualify of a neighborhood was the biggest factor in determining where they would live and buy a home in a given area. Affordability and convenience were also cited as the next top responses. If you are selling your home, you should know that certain features in specific neighborhoods are like magnets for potential home buyers. Here are the top factors to keep in mind and emphasize when listing your home:
Access to transportation
Good schools
Nearby amenities
Area architecture
Parks & outdoor space
Low crime rate
Local economy
by Linda Daniels
on January 23, 2012
in Blog, La Jolla Real Estate, Real Estate Tips, San Diego Real Estate
When people decide to take out a loan and want to use a loan officer, they are being sold on three points: price, product and service. Since most loan officers provide almost always the same products and at the same price, what is the best way for a borrower to find the best loan officer?
Here are a few tips on how to be prepared when searching for a loan officer:
1. First, discuss the possibility of variable rate mortgages. Talk to a mortgage advisor about your income now and in the future, when you want to move into the new home, and your flexibility with risk factors.
2. Make sure that your loan officer discusses rates openly and accurately without holding back information. They should be able to explain to you how the rates are affected by various activities in the bond market and based off of future events and economic reports.
3. Do some of your own research instead of relying solely on the loan officer's statements. Look for material online and in print that can assist you and provide helpful and free information.
4. Ask around. If you know someone who had a great loan officer, ask if they can refer you. Or, ask someone who works with multiple lenders such as attorneys, accountants and real estate agents.
by
on January 20, 2012
in Blog, La Jolla Events
San Diego Restaurant week is going on throughout San Diego right now! This exciting event brings the city of San Diego's vibrant food scene to life showcasing the freshest ingredients and most flavorful dishes. San Diego is home to some of the world's best restaurants and most talented chefs. During San Diego Restaurant Week you can choose from over 180 of San Diego's best and most delicious eateries. A three-course dinner prix-fixe menus are just $20, $30 or $40 per person, depending on the restaurant. George's At the Cove as well as many other La Jolla restaurants are participating in this delicious event.
An exciting addition to San Diego Restaurant Week this year is the new lunch program. This program gives the daytime diners the opportunity to feast on a two-course lunch prixe-fixe menu for just $10, $15 or $20 per person depending again on the restaurant. With this welcome addition, San Diegans can now experience and enjoy the many yummy eateries all over San Diego County at any time of the day. Participation in San Diego Restaurant Week is easy, there are no passes or coupons needed. Simply call your participating restaurant to make a reservation. So go ahead and visit one of your favorite La Jolla eateries for lunch or dinner now!
To view a full list of participating dinner and lunch locations and menus, visit: www.SanDiegoRestaurantWeek.com.
The majority of young adults from 25 - 35 live with their parents today and are being advised by their parents to buy their own home.
Some parents want their children to take advantage of the low rates and to start building their long-term investments. Below are the top 4 reasons why they would want them to buy a home (From Fannie Mae's recent National Housing Survey):
1. It means having a good place to raise children and provide a good education.
2. You have a physical structure where you and your family feel safe.
3. It allows you to have more space for your family.
4. It gives you control over what you do with your living space (renovations & updates).
Here are also some positive things that some experts are saying about housing prices:
MSNBC
“...Someone who plans on staying put for seven years would come out ahead by about $9,000 if they bought a median-priced home rather than being a tenant in a median-priced rental.”
U.S. Department of Housing & Urban Development
“Homes today are more affordable for average families than they have been since 1971. Median-income families today have nearly double the funds needed to purchase the average home.”
