San Diego Real Estate Cafe by Krista Lombardi
Archive for June, 2010
Should Any Buyer Pay a Seller’s Back HOA Dues?
What do you mean the HOA dues aren't current?
Here’s another hot topic of debate for all of you out there thinking of buying a condominium or any type of property that has HOA dues every month.
If you’re looking at a property that’s listed as a short sale you’d better pay specific attention before you agree to something you’re not going to be happy with.
Properties listed as a short sale sometimes require the buyer, as part of the purchase, to pay the back HOA dues of the seller. Does this sound fair?
Let’s take a closer look at this for a minute.
We know that the seller has stopped paying the mortgage. He would have had to because this is the only way that the bank might agree to short selling the property.
So let me now pose this questions to all of you, if the seller isn’t paying the mortgage every month, what is the seller(s) doing with that money? Read the rest of this entry »
What to Do in San Diego for the 4th of July!
Happy Birthday America!
This 4th of July will be our great country’s 234th birthday. Is that a cause for celebration, you betcha! And what better place to celebrate it than right here in San Diego with the fireworks on the ocean.
You may be wondering where the free (free is such a good word) firework displays will be in San Diego. Wonder no more! Below is a list of free fireworks shows and ones that have a minimal fee for admittance.
I Want to Pay the Bank More Money But They Won’t Let Me!
Peace of mind
This is an interesting conundrum!
One of my friends and clients wants to modify her loan from an ARM to a fixed loan.
Guess how long she has been asking the bank to make this change.
One week? One month? One year? Wrong, wrong, and wrong…
She has been calling the bank everyday for one year and a half.
Top 7 Hottest Things to Do in San Diego This Week
Hopefully everyone is enjoying a great weekend and getting some relaxation 
in!
If you are looking for things to do in San Diego this week, here are some top exciting events going on to fit almost anyone’s lifestyle. Hope you enjoy!
1. Sunday July 27th – Chef’s Kitchen experience – 616 J Street, 92101
Wow! This weekly event incorporates the Hillcrest Farmer’s Market and the JSix Restaurant. You get transportation to and from the Hillcrest Farmer’s Market, a 3 course meal with wine pairing, and free parking for $120.00. What a good time!
What Is It With San Diego Listings That Have One Picture or None At All?
This was this the only image of the home available? Really?
Have you ever seen a San Diego listing with only one picture?
As a realtor I unfortunately see this quite often and I wonder why this is.
Home buyers like to see as many photos of a property they’re considering buying and it’s unfortunate that some Realtors don’t provide more than one.
The argument that realtors are in the business of selling homes doesn’t hold water either because an agent can have someone who is in the business of taking photos go out to their listing and take care of that for them.
Prices for this service vary in expense but if need be, pay a friend to go out and take picures with their camera if the expense of sending a professional photographer is too high or isn’t cost effective for the particular listing. Read the rest of this entry »
7 Key Points to Combat Toxic Drywall
Homeowners from 37 States across the nation have complained about toxic 
drywall.
What is this phenomenon?
Around 2008 homeowners began complaining that they had houses with smelled like rotten eggs or burning matches.
Rotten eggs? I giggled over that, but apparently it was much worse than just the nasty smell, their walls were turning black. Not to mention that the smell was so bad it was making them sick and the coil for the air conditioners was being eaten away by it, rendering them useless.
At that good old peak of 2004 and 2005, the notorious years which led to our real estate market now, the drywall manufactured in China contained toxins that created this issue.
If you think that you have toxic drywall issues, here are the key things to know:
The Grand Slam on the San Diego Real Estate Market
To help out on States that were slammed hardest by the real estate market, President Obama has approved more plans to help homeowners.
The program is going to 5 States, California being the largest, which will get $700 million to assist 46,000 borrowers. The choice of States was established by which ones had highest unemployment and/or had seen a drop of 20% in home values.
What effect will this have if you have San Diego real estate and are underwater?
Why Aren’t More Buyers Taking Advantage of the Current Prices in San Diego?
I have been pondering the question in the title of this blog entry for quite some time. As a San Diego native I guess I’ve grown up seeing my city’s housing price history and can remember the “good ol’ days” when pretty much anyone in the city and county could afford to purchase their own little piece of paradise.
Boy have times changed since those days growing up in Chula Vista when places like Eastlake, Otay Ranch, Ocean View Hills Rancho Del Rey and other new communities were just vast fields of over grown weeds. OMG! Did I just date myself?
I know to most buyers, especially those that moved here from another part of the country, the prices seem high even in the current market environment. More often than not they compare the prices to the prices from the part of the country or the last place they resided and in more cases than not they’re lower.
Then again if someone moved from say LA, Chicago, NYC, etc. would this be true? Probably not and in addition some of these cities offer far less square footage for the dollar. Read the rest of this entry »
Enjoy the First Time Homebuyer Credit From the Comfort of Your Own….Jail Cell?!
Can’t believe what you just read? Yeah, me neither, but it’s true.
An audit of refunds to taxpayers claiming the tax credit concludes that millions of dollars have been paid out to prison inmates and homes purchased before the credit took effect.
Apparently quite a few scams and mistakes were made.
Prisons report the status of inmates to the IRS on a voluntary basis, and “without congressonal action to require state and federal prisons to report the status of inmates to the IRS, there will be gaps in the data and compliance problems will persist.” Commissioner of the IRS Wage and Investment Richard Byrd said.
The Cold, Hard Truth About Deposits
The buyers on the other side of your sale are cancelling escrow.
No big deal, right? Someone else will buy it and anyways you get to keep their deposit. A nice hefty sum, at 3% of your 500K San Diego real estate purchase price, that works out to a lovely 15K to go shopping.
The buyers have a “contingency period” (period in which any potential issues such as inspections, appraisals, disclosures, etc are reviewed and they cancel escrow with no recourse) of 17 days, and the ones you were in escrow with already removed their contingencies.
They are in the wrong and you are in the right. Right?
Featured Homes
Recent Posts
- Top 7 Things To Do In North County This Week
- Top 7 Things To Do In San Diego This Week
- Top 7 Things To Do in San Diego This Week
- Top 7 Things To Do in North County This Week
- $1,000 Downpayment Assistance in California
Local Resources
