Thursday, November 1, 2018

Where Are Home Values Headed Over The Next Few Years?

There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions:
The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.
Zelman & Associates – The firm leverages unparalleled housing market expertise, extensive surveys of industry executives, and rigorous financial analysis to deliver proprietary research and advice to leading global institutional investors and senior-level company executives.
Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.
Freddie Mac – An organization whose mission is to provide liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.
The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.
Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets always.

Here are their projections of prices going forward:

Where are Home Values Headed over the Next Few Years? | Keeping Current Matters

Bottom Line

Every source sees home prices continuing to appreciate – just at lower percentages as we move through the next several years.

Monday, October 15, 2018

The Home Selling Process

Your home selling process includes these 14 steps:

1. Get Your Finances in Order

Contact your mortgage lender to find out about any penalties for paying off your mortgage early.
If you plan to purchase a new home, inquire about the types of mortgages available for you. 

2. Choose a Realtor®

What’s the difference between a Realtor® and a real estate agent? A real estate agent is anyone who earns a state real estate license. A Realtor® is a real estate agent who joins the National Association of Realtors® and must uphold the association standards and its Code of Ethics
Knowledge, ethics, skill, and access to modern real estate selling tools combine to make your Realtor® the best at obtaining the highest sales price for your home.
Choose a Realtor® experienced with selling homes, knows your neighborhood and its market, who you trust.

3. Get Your Home Ready

Prior to listing your property for sale, prepare your home for buyers. Think about strangers viewing your home and how to make a positive first impression. Hide the clutter, tidy up the front and rear yards, and fix any eye sores.
You only get one chance around 5 seconds for your home to make a great first impression, so make it count.

4. List Your Home For Sale

Your Realtor® advises you regarding the best sales price based on recent comparable sales in your neighborhood and market conditions. Your listing agent prepares a Comparative Market Analysis (CMA) report to assist you with deciding the sales price. The CMA takes emotions out of the sales price by providing neutral facts based on current market conditions.
Overpriced listings simply do not sell, realistic expectations sell.
Another advantage with using a Realtor® is the power of the Multiple Listing Service (MLS) which advertises your home to every local real estate agent. A further benefit of the MLS allows agents to cooperate with selling your home by splitting the total commission between them.
To a real estate agent, 50% of a commission trumps 100% of nothing if the home never sells.

5. Marketing Your Home

Getting your home into the local MLS is just the first step in your agent’s marketing plan. The next step involves coming up with advertising words based on the best features of your home. Expect a full blown advertising and marketing campaign to get your home sold fast. How and where to advertise your home becomes the essence of your Realtors® marketing plan.
Hiring a professional virtual tour company to take high quality photos and video of your home inside and out enables a virtual online tour for potential buyers. Saturate online social media platforms with descriptions, photos, and videos of your home.

6. Open House

Letting your Realtor® install a lockbox so other agents can view and show buyers your home (after making an appointment) increases the chances for a sale.
Prepare for an open house which is a formal previewing for other agents and potential buyers. An open house showcases your home. Your Realtor® can advise you how to make your home shine.
In addition, your Realtor® gets an opportunity to receive valuable feedback from agents and buyers regarding your home’s condition and price.

7. Reviewing and Negotiating Buyers Offers

Depending upon market conditions, if your home is priced right expect multiple offers. Don’t take really low offers personally. Try to negotiate all of them with a counterofferDon’t be shy about making a full-price counteroffer when your price is fair and competitive.
If you don’t already have your replacement home lined up, make your counteroffer contingent on your buying a home before closing your sale. 
If the buyer’s offer is contingent on selling his or her home before closing on your sale, include a “kickout” clause or right of first refusal against such a contingency.

8. Open Escrow

Once you reach an agreement with a buyer and sign a purchase agreement, it’s time to open escrow and order a title policy.
An escrow company is a neutral third party authorized by the state to collect the buyer’s earnest money and hold it in escrow until the sale completes. The escrow company coordinates with you, the buyer, the agents, lender, and other necessary parties to complete their responsibilities under the purchase agreement.

9. Appraiser Appointment

The buyer’s mortgage lender will require an appraisal to determine the true value of your home, called an appraisal value.
The appraiser schedules an appointment to inspect your home. Prior to the appointment, clean your entire home and hide the clutter.
If you receive a low appraisaltalk to your Realtor® about alternatives.
By law, since the buyer’s lender paid for the appraisal, you are not entitled to receive a copy. However, if the buyer attempts to cancel the sale because of the appraisal, ask your lawyer or Realtor® about how to access the appraisal.

10. Home Inspection

Besides an appraisal, the buyer hires a professional home inspector to view your entire property. Ask your Realtor® for a copy of a home inspection checklist in advance of the inspection to know what things the inspector looks at. This helps you with preparing areas like the attic, basement, and garage for the inspection.
A few days before closing, be prepared for a final walk-through inspection with the buyer.

11. Seller Required Inspections

Your purchase agreement may require a roof inspection and/or a state required termite or other pest inspectionsas the seller, you pay for them. 

12. Seller Disclosures

The law requires that if you know of any material facts which impair the value of your home, you must disclose them.
U.S. homes must provide lead-based paint disclosuresHomes built after 1978 probably won’t have any, but the disclosure form is still required.
If you belong to a homeowner’s association, additional documents may be required such as the Covenants, Conditions & Restrictions (CC&Rs) which the association can provide you.

13. California Disclosure Requirements

California disclosure laws requires every home seller to provide written disclosure about the condition of the home (Section 1102 California Civil Code). The law protects home buyers by making sellers inform them of any potential repairs or upgrades that the home needs.
While the law does not specify when the disclosures must be made, real estate professionals recommend as soon as possible. Some sellers prepare their disclosures when the home is listed so prospective buyers can receive them right away. Other sellers wait until a buyer submits an offer.
The official disclosure form called the “Transfer Disclosure Statement” (TDS). Your Realtor® can provide you with a copy, or the California Association of Realtors provides one online by Clicking Here.
In addition, California home sellers must submit another disclosure form called the “Natural Hazard Disclosure Report/Statement” before the home sale closes. Again, your Realtor® can provide you with a copy, or you can download one online here 

14. Escrow Closes

Finally, the home selling process concludes when escrow closes.
When the buyer’s loan is approved, the funds go to the escrow company who pays you. In return of payment, you provide a signed and notarized deed transferring ownership to the buyer. Once the deed is recorded with the appropriate government agency, the sale closes.

Steven Rich, MBA – Guest Blogger

Thursday, September 20, 2018

Things to Do This Weekend in San Diego: September 20-23

Thursday, September 20
Oddities: Hidden Heroes of the Scripps Collections
9 a.m. to 5 p.m., Birch AquariumA new comic book-inspired interactive exhibit is opening at the Birch Aquarium to highlight the "superpowers" of some of the ocean’s most awe-inspiring creatures. From supervision to an electricity zap -- marine life make amazing adaptations to survive in their environment and the team of scientists at Scripps Institution of Oceanography, UC San Diego want to share what they've learned with you. The exhibit is available to guests who purchase a ticket to the museum ($18.50 for adults and $14 for children 3 to 17).
Things to Do at Balboa ParkThings to Do at Balboa Park
Balboa Park is one of San Diego’s best-known landmarks. NBC 7's Monica Garske speaks with Balboa Park Conservancy CEO and president Tomas Herrera-Mishler about a few of the things you should do when you visit the sprawling urban park in the hear of America's Finest City.
(Published Thursday, April 20, 2017)
Sculpture in the Garden9 to 5 p.m., San Diego Botanical GardenThe sprawling botanical garden in Encinitas (230 Quail Gardens Drive) is featuring the sculpture work of 30 artists through the month of April. See the artwork, ranging from whimsical to abstract, set against a backdrop of dragon trees, rare fruit gardens, bamboo groves and ponds. All of the artwork is available for purchase and goes to fund the botanical garden. Admission to the botanical garden is $14 for adults and $8 for children.
Summer Movies in the ParkTimes Vary, Locations VaryAcross the county through October, cities are taking part in movie screenings at their local outdoor parks. Almost every day of the week, San Diegans can find a different free outdoor movie screening thanks to the county-wide initiative. This week, “The Secret Life of Pets” screens in La Mesa and Marvel’s “Black Panther” will play in Bonita, just to name a few. The full calendar of screenings for the summer can be found here. Bring a picnic, chairs and a blanket to enjoy the movie of your choice starting at sunset.
Summer Movies in the Park 2018Summer Movies in the Park 2018
This summer, you can find movies at a local park near you. Program Manager Christine Lafontant explains.
(Published Thursday, May 24, 2018)
Oceanside Sunset Market
5 to 9 p.m., Main Street OceansideAs if anyone needed another excuse to head to the beach for an evening sunset over the Pacific Ocean, the Main Street Oceanside business association is giving you one anyway. The Oceanside Sunset Market is taking over four city blocks of the downtown area so that about 200 local merchants can feature homemade crafts and tasty grub as live music wafts through the sea breeze-driven air. The free market is located on Pier View Way between Pacific Coast Highway and the Ocean every Thursday.
Music in the Gardens
5 to 8 p.m., Stone World & Bistro Gardens (Escondido)Every Thursday, enjoy good music and good beer in Stone Brewing’s sprawling Escondido garden oasis. This week, grab a pint of Stone Delicious IPA, Arrogant Bastard Ale or one of the dozens of other brews on tap while taking in the island sounds of Hawaiian-style artist Ben Benavente.
The Story Behind the Cardiff KookThe Story Behind the Cardiff Kook
On HIghway 101 north of San Diego, there's a statue that was once ridiculed but has grown to find its own place in the hearts of the public. 
(Published Monday, April 16, 2018)
Comedy Night
7 p.m., Tiger! Tiger! (North Park)This weekly comedy show brings a variety of headliners and up-and-coming talent to North Park’s draft house, Tiger! Tiger! This week, comedian Valerie Tosi will dole out laughs. Tosi is an improv comedian and alumni of The Second City who has made several popular Buzzfeed videos, including one with Kevin Hart and Ice Cube. Tickets are free but first come, first served. The best way to guarantee a ticket is to register in advance. 
Friday, September 21
Bazaar del Mundo’s Santa Fe Marketplace
10 a.m. to 8 p.m. (through Sunday), Bazaar del Mundo (Old Town)Bazaar del Mundo in Old Town will be overflowing with authentic Native American jewelry, arts and crafts this weekend as the Santa Fe Marketplace takes over. Navajo, Cherokee, Hopi and other tribe members and southwestern artists, will showcase their goods -- from exotic stones to leather accessories -- at the free three-day festival. Guests are also invited to bring their own Native American jewelry and heirlooms to have appraised by pawn trader Art Quintana.
Inside Liberty Public Market: Fall 2017Inside Liberty Public Market: Fall 2017
It's been a year-and-a-half since Liberty Public Market opened in the heart of Liberty Station. With more than 30 vendors lining its halls, the 25,000-square-foot marketplace has quickly transformed into a food emporium, with interesting treats to be had at every turn. Here's a glimpse at LPM, as it looks in fall 2017. 
(Published Thursday, Sept. 21, 2017)
Food Truck Fridays
4 to 8:30 p.m., Balboa ParkDelectable treats will once again flood historic Balboa Park every Friday night this summer for the popular Food Truck Fridays series. A lineup of about a dozen food trucks will rotate each week through September 28 at Plaza de Panama ready to feed hungry guests as a variety of live music, like Mariachi and orchestral sounds, waft through the air. Some of the dining possibilities include Bosnian Grill, Monster Crafts, Pierogi Truck, Super Q and Yo Yo Bento, Beachin’ Boba, Devil Dogs BBQ, Sushi Uno and more. Visitors are invited to bring lawn chairs and blankets to sit in front of the Botanical Building as they eat, or enjoy craft beer, wine and cocktails inside nearby restaurants. Booths will be set up with activities for kids and Balboa Park will introduce a "living room" area filled with giant lawn games. Surrounding museums will extend hours to accommodate guests and the San Diego Museum of Art will offer $5 admission after 5 p.m.
Cruisin’ Grand
5 to 9 p.m., Grand Avenue (Escondido)The free auto festival that has taken over downtown Escondido for nearly two decades is back for the 2018 summer season. Hundreds of vintage cars line Grand Avenue for seven blocks every Friday night from April to September for the event that seems to transform the city into a retro paradise. Along the route, enjoy dinner or browse local goods at one of the many restaurants and shops that extend their hours during the car show.
Salsa Under the Stars
6 p.m. to 9 p.m., The Headquarters at SeaportHit the courtyard at The Headquarters at Seaport for this Friday night salsa dancing session under the stars. Manny Cepeda and his orchestra will provide the toe-tapping tunes; no partner or experience necessary to join this fun, free event.
Hops on the Harbor
7 p.m. to 10 p.m., Flagship Cruises & EventsThe brew makers behind Green Flash Brewing Company’s specialty beers have been at it in San Diego for more than 15 years. Now, the craft brew specialists are sailing towards the horizon for a partnership with Flagship Cruises’ Hops on the Harbor. This month, four 6-ounce samples of Green Flash’s suds will accompany a dinner menu and cruise around San Diego Bay. The menu features: a sundried tomato and artichoke penne pasta that pairs perfectly with Green Flash’s GFB; a fruity pairing of grilled salmon with papaya salsa and tropical rice pilaf that accompanies the tart Passion Fruit Kicker; and a coffee-rubbed beef brisket that pairs with the brewery’s popular West Coast IPA. The dinner cruise boards at 7 p.m. from 990 North Harbor Dr. and sails past the San Diego skyline, USS Midway, Star of India and other Maritime Museum ships and the Coronado Bay Bridge. Tickets cost $79.50 for adults and $47.70 for children ages 4 to 12; kids 3 and under are free. Reservations are recommended.
The Haunted Hotel
7 to 11 p.m. (Friday) 6 p.m. to 1 a.m. (Saturday), 424 Market Street (San Diego)It’s time to check in to The Haunted Hotel. One of San Diego’s most popular Halloween haunts returns this weekend with a sneak preview of this year’s spooktacular frights. Guests will take a ride up the hotel’s haunted Hellavator before walking own a bleak corridor filled with scares. On Wednesdays, try the whole thing in the dark. Tickets typically cost $20, but for this weekend’s preview, The Haunted Hotel is slashing prices for brave visitors. Times vary; check the schedule here
Saturday, September 22
Carlsbad Artwalk
11 a.m. to 6 p.m. (Saturday) 10 a.m. to 5 p.m. (Sunday), Alameda Drive (Carlsbad)A Carlsbad city street will be transformed into an immersive art experience for Carlsbad’s first ever Artwalk, presented by the creators of the ArtWalks in Little Italy and Liberty Station each year. Guests can watch as dozens of chalk artists bring their artwork to life along Armada Drive over the festival’s two-day run. The work from about 200 artists will be on display and for purchase in a variety of mediums. The art festival will also feature live music from musicians Nathan James, Steve Poltz and others, a wine and beer garden, food trucks and more. A $12 ticket or a $17 weekend pass gets guests access to the festival and entrance into the nearby Museum of Making Music. Children 16 and under are free.
Pop Up Market
10 a.m. to 3 p.m., QuartyardPeruse original art, handmade creations and vintage finds at this one-day-only pop-up shop at the Quartyard in East Village. As you browse, enjoy sips of craft beer or cocktails, tasty bites, music and more.
Namaste on the Bay
9:30 a.m., CoasterraAre you a yogi and a foodie? Then this one’s for you. Coasterra, the modern Mexican eatery on Harbor Island is hosting a yoga class followed by a brunch on the bay. Instructors will lead an hour-long class before bites of classic brunch items are served alongside Rosé and kombucha until 12:30 p.m. Tickets cost $40 and can be purchased here
Rex, San Diego Zoo's Inspiration, Gets Statue at EntranceRex, San Diego Zoo's Inspiration, Gets Statue at Entrance
A new addition adorns the front entrance of the San Diego Zoo. The statue represents the lion that inspired the park in 1916.
(Published Monday, March 26, 2018)
Macy Gray
8 p.m., Music BoxPowerful vocalist and Grammy winner Macy Gray, known for the hit "I Try," will bring her sultry sound to the Music Box in Little Italy for a one-night-only concert with opener Mimi Zulu. Doors open at 8 p.m. and the concert will start at 9:30 p.m. Tickets to see the r&b singer start at $38. Dinner packages and tables are available.
SeaWorld’s Halloween Spooktacular
10 a.m. to 9 p.m., SeaWorld San DiegoDon’t wait for Halloween to trick or treat. Kids and their parents can stroll trick-or-treat booths set up throughout the SeaWorld San Diego for their annual Halloween Spooktacular, which runs this year through October 28. On top of treat hunting, families can sing and dance along to the all-new Sesame Street Halloween Parade, catch a holiday-themed Clyde and Seamore show and more. Spooktacular comes with a general admission ticket starting at $55, which gives guests access to all of SeaWorld’s daily offerings.
San Diego's Top Breweries San Diego's Top Breweries
San Diego Festival of Beer
1 to 5 p.m., Broadway PierDelight in tasty brews while supporting the fight against cancer at the 24th annual San Diego Festival of Beer. The Broadway Pier will be overrun with booths featuring more than 50 breweries -- like Green Flash, Belching Beaver and Coronado Brewing Co. -- pouring unlimited samples of their creations for four hours to those with a $50 admission ticket. A ticket also comes with access to food trucks, vendor booths games and live music. The event’s organizers, San Diego Professionals Against Cancer, say all of the event’s proceeds are donated to San Diego cancer-fighting charities.
Sunday, September 23
San Diego Restaurant Week
Times Vary (through September 30), San Diego CountyIt’s that time again! More than 180 eateries across San Diego have created the perfect multi-course meals for guests to feast on during this year’s San Diego Restaurant Week. For eight days starting Sunday, participating restaurants will offer exclusive prix-fixe menus -- two-course lunches ranging from $10 to $20 a person or three-course dinners ranging from $20 to $50 a person. Take a look at this year's restaurant lineup here and be sure to make a reservation in advance to guarantee your spot.
24th Annual Pacific Islander Festival
9 a.m. to 4 p.m. (Saturday and Sunday), Mission Bay Ski BeachThe 24th Annual Pacific Island Festival puts an emphasis on tradition, the theme of this year’s event. More than 100 craft, food and informational vendors will pack Ski Beach for this two-day festival celebrating the indigenous cultures of the Pacific Islands. The event is free to attend.
Hoppy Yoga 
10:30 to 11:45 a.m., Culture Brewing (Ocean Beach) This traveling yoga class makes stops at a variety of San Diego breweries, offering guests a stretch session and sips of craft brews. The class is perfect for all levels and is followed by either a pint of beer or a tasting flight from whichever brewery the class happens to be at that day. Guests can purchase tickets for $20 to Sunday’s Hoppy Yoga class at Culture Brewing in Ocean Beach. Multi-class packages are also available. See the full schedule here
Raul Prieto Ramirez on the Spreckels Organ PipesRaul Prieto Ramirez on the Spreckels Organ Pipes
Spanish organist Raul Prieto Ramirez is San Diego's new Civic Organist. You can see him perform on the historic Spreckels Organ at Balboa Park. Here, he shows NBC 7 some of his fancy footwork.
(Published Friday, Jan. 12, 2018)
Sunday Organ Concert2 p.m. to 3 p.m., Spreckels Organ Pavilion at Balboa ParkEnjoy a free, hour-long organ concert Sunday at Balboa Park’s famed Spreckels Organ Pavilion. At the keys, the audience will find Raul Prieto Ramirez, the city’s newest San Diego Civic Organist and Artistic Director of the Spreckels Organ Society. Prieto Ramirez hails from Spain and, as he told NBC 7, hopes to keep the program interesting – from Bach to Queen – at the historic Spreckels Organ.
Liberty Station Concerts
5 to 7:30 p.m., Liberty StationIt’s the last show of the season for Liberty Station’s free concert series, which featured a different local musicians on their grassy North Promenade (2848 Dewey Road) at each of their concerts. This week, Vaud & the Villains -- composed of a five-piece horn section, a rhythm section, vocalists and three dancers -- return to the outdoor stage. Opening or the 19-piece orchestra is Iron Sage Wood. Bring a blanket and a picnic and enjoy this live outdoor concert.
The Heart of Rock & Roll
8 p.m., The Old GlobeOne of rock and roll’s most iconic artist is getting an entire show dedicated to his works. Huey Lewis told NBC 7 he never thought a musical adaptation of his works would be a reality. But through October 21, The Heart of Rock & Roll, which exclusively features the “Hip to Be Square” artist’s work, will play on the Donald and Darlene and Shiley Stage at the Old Globe. The comedy follows a band playing the Chicago dive bar circuit waiting for their “big break.” Tickets start at $39.
Free or Cheap Things to Do in San DiegoTimes and locations varyFree or Cheap Things to Do in San DiegoFree or Cheap Things to Do in San Diego
Looking to save some cash, but still enjoy the city? In San Diego, there are still plenty of activities to enjoy for free or on the cheap. Go for a hike at Torrey Pines State Park or Cowles Mountain, stroll Balboa Park, try a new craft brewery, admire the murals of Chicano Park or read a book at a downtown park. Get out there and explore America’s Finest City.

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