Have You Seen What’s Going on at Our Bay Park Office?

Our Bay Park office has many amenities, but none are better than the “man cave” that we’ve turned into a community event center. Here’s a better look at the space so you can see why it’s so incredible.

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On my latest appearance on “The American Dream," I joined host Lili Fifield and Darlene De La Paz from Pazable Creations in our Bay Park office to talk a little bit about the area and to take a closer look at our own little secret place in our office. 

From cornhole to ping pong to plenty of TVs, we’ve created our own little man cave here at RE/MAX Pacific. However, now we want to make it a center for the community. 

We’ve already had private events in it and we’re actually leasing it out now for events. There’s a ton of space to hang out, play ping pong, and even play with your pets. See for yourself starting at 1:30 in the video above.

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We’d love for you to come and check out the space sometime.

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We’d love for you to come check out the space for yourself some time. If you’re in the area here in Bay Park, come take a little break and join us! 

If you have any other questions for me in the meantime or any real estate needs that I can assist you with, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Why Bay Park Is Booming in the Real Estate World Right Now

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Bay Park is booming right now, and for my latest appearance on “The American Dream,” host Sarah Pilla and I visited one of the best restaurants in the area, Luce, to talk about why.

First, though, we talked with Luce’s owner Sal D’Amato about his restaurant. I’ve lived in this area for 15 years, and I’m excited to see another great restaurant open. Our office is located right across the street from Luce, so I’m there all the time.

Sal’s father was a restauranter, so he grew up in the business. He and his brother opened Luce six years ago, and they’re still going strong. As a gastropub, they serve more than just bar food. Their menu changes seasonally, but they’re best known for their burgers.

Their daily happy hour runs from 3 p.m. to 5 p.m. for food and from 3 p.m. to 6 p.m. for drinks.
Aside from their weekly lunch and dinner schedule, they also serve brunch on the weekends. At the moment, they’re converting a former adjoining parking lot into a nice patio area with a firepit and its own bar, and it should be open by September.

Moving on to our main topic, Bay Park has really hit the map lately in the real estate industry. As one of the original master-planned communities of San Diego, its development dates all the way back to 1950s. Though the area has seen a lot of turnover, there’re still a lot of original residents living here along with the new families settling in.

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Relative to the prices we’re seeing in areas like La Jolla, Point Loma, or Pacific Beach, you can find a lot of great deals here.

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One of the main benefits of Bay Park is its walkability. You can find decent-sized houses on the market that have a water view and are within walking distance of many restaurants, bars, coffee shops, etc. You’re also close enough to the Bay that you can ride your bike to get there if you like. Relative to the prices we’re seeing in areas like La Jolla, Point Loma, or Pacific Beach, you can find a lot of great deals here.

With the new trolley stops slated to open here in a few years, Bay Park is drawing even more attention, and there will be even more things to see and do in the future.

If you’re interested in checking out the available homes in this area, don’t hesitate to give me a call. If you have any other real estate questions, feel free to reach out to me as well. I’d love to help you.

Have You Checked Out the New Listing at 3855 Baker St. Yet?

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Bay Park is home and I have another great property!  I recently listed 3855 Baker Street and I'm excited to show you!

Bay Park is one of the hottest neighborhoods in San Diego right now, and what’s unique about this property is it’s a part of the first wave of homes with intentionally built accessory dwelling units. We’re actually starting to see more and more multi-generational families take an interest in these types of properties because they either want to take advantage of the rental income or they want to keep their family close.

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The owners spared no expense in renovating everything.

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This property is listed at just under $1.3 million, and it features a 4-bedroom, 2.5-bathroom main house, a 1-bedroom, 1-bathroom attached granny flat, a detached two-car garage, and a rooftop deck with a view of the water. As you can see in the video above, the owners spared no expense in renovating everything. It has top-end appliances, an open floor plan, and plenty of space.

This part of Bay Park doesn’t get a lot of traffic noise, and you’d be within walking distance of the nearest school. We’ve had some people already take an interest in this property, but so far we haven’t received any offers, so there’s still time for you to check it out.

If you’d like to schedule a tour of this property for yourself or if you have any questions about it, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

A Closer Look at Bay Park

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I recently joined Craig Sewing on “The American Dream” to talk about the Bay Park market and the real estate market in general. Here are a few highlights of what I discussed.

The defining point of the market continues to be our low inventory. We are seeing the seasonal trend toward an increase, especially in the higher end, as affordability has dropped. However, for first-time homebuyers, it’s still a great market, even though there is not much to choose from.

As for Bay Park in general, this is an area I love. You can get a view property here that’s relatively affordable and have a central commute all in one. Over the last decade or so that I have been out here, I’ve really seen a changing demographic. There is a younger population coming in, along with a rejuvenation of the school system and the economic sector. The next big thing we’re seeing here is the trollies coming in, which would have another positive impact.

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There has been a changing demographic here over the last decade.

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I also discussed a few great listings that we have out in Bay Park, including one of the original houses built way back in 1894. It's a 4,600 square feet property that backs up to Tecolote Canyon and a 990-acre nature preserve. This home is a one-of-a-kind property in a one-of-a-kind location.

If you have any questions about Bay Park or the San Diego real estate market in general, or if you are looking to buy or sell a home, please feel free to give me a call or send me an email. I look forward to hearing from you.

A Gorgeous 5-Bedroom Home in the Heart of San Diego

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I just wanted to take a moment of your time to let you know about a fantastic new home that was just listed on the market. 3626 Lloyd Terrace is in one of my favorite areas of the city, and I recently sat down for an episode of “Smarter San Diego” to discuss it.

This 2,799 square foot home is down in Bay Park and has five bedrooms and three bathrooms. In the video above, you'll see that the home has ample space for living, entertaining, and more. The open floor plan really capitalized the space, and it’s right near the water as well. 

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The home has ample space for living and entertaining.

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If you’d like to schedule a tour of this property for yourself or if you have any questions about it, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

An Update on the San Diego Market in 2018

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Before we get too far into the new year, I wanted to reach out with a few updates for you. First, I want to tell you about how the real estate market fared in 2017 in San Diego. Then I have a special event to invite you to. Let’s start with a market wrap up from 2017.

The median price for a home in San Diego at the end of 2017 was $540,000. That’s up 9.1% from the previous year. This strong appreciation was mostly driven by the strong economy, as more investors decided to take advantage of the low inventory and low interest rates that we’re currently seeing. In 2018, we expect the low inventory and low interest rate trends to continue.

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Join us this Saturday, February 3 from 12:00 p.m. to 4:00 p.m.

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As for the special event, I just wanted to make sure and invite you out to the grand opening of our new office in Bay Park. It’s really beautiful and we’d love for you to come out and take a look on this Saturday, February 3 from 12:00 p.m. to 4:00 p.m. We’ve got a big space set aside with artificial turf and we’ll have a lot of different things ready for you, including a bounce castle, a taco cart, giveaways from local businesses, and more. We would love for you to stop by.

If you have any questions for us about the current market or about our grand opening this weekend, don’t hesitate to give me a call or send me an email. I would love to hear from you.

Are You Thinking of Adding an Accessory Dwelling Unit to Your Lot?

Have you ever considered adding an accessory dwelling unit to your lot? Last year, a new law made this possible.

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Today, I’d like to talk to you about accessory dwelling units, which are more commonly known as “granny flats” or “in-law suites.”

Last year, a law was passed in California to help address the housing shortage. This law allows for the construction of a second home on a lot only zoned for a single-family property.

This way, you can either rent the space out or use it to house grandparents, in-laws, or your adult children.

However, actually following through on what this law allows has been somewhat difficult. Right now it takes about $26,000 to get the permits and plans approved by the city of San Diego. This is before anything has even been done toward the construction of the home. Additionally, it can take weeks or months to even get started. 

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Last year, California passed a law allowing accessory dwelling units to be built as a second home on a single-family lot.

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Thankfully, a proposal has been made to help streamline this process by reducing the associated fees and having templates available for the units. If templates became available for people wanting to build this second property, the unit would already be pre-approved.

There is a stipulation relating to size, though. You can build up to 1,200 square feet for an accessory dwelling unit.

If you are interested in accessory dwelling units, get in touch with us so that we can include you in an upcoming seminar my team and I are hosting on the subject. For more information on these accessory dwelling units, click here.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What Would the Proposed Tax Reform Mean for Our Market?

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Today I want to talk about the proposed tax reform that’s currently on the table. Specifically, I’d like to talk about three aspects of it that could affect the housing market.

1. They may be capping the mortgage interest rate deductions. Currently, you’re able to write off all of your mortgage interest on a loan up to $1 million. They are thinking of reducing this cap to $500,000. Let’s say you’ve got a 4% interest rate on a $1 million mortgage. Right now, you would be able to write off $40,000. If this tax reform goes through, you would only be able to write off $20,000. They are also looking into entirely eliminating the mortgage interest rate on second homes and home equity lines up to $100,000.

2. There is a proposal by the Senate to eliminate state, local, and property tax deductions. Here in San Diego where your property tax rate is about 1.2%, this could be a big blow to your write-offs. The House’s proposed plan would instead cap property tax deduction at $10,000.

3. They want to adjust the tax break for sellers. Currently, if you are an owner of a primary residence and have lived there for two of the last five years, you can write off up to $250,000 if you are single and up to $500,000 as a couple. These write-offs are currently tax-free. If this proposed tax reform goes through, you will need to have lived in your home for five out of the last eight years instead of two out of the last five. Instead of being able to move up every two years and taking your gains tax-free, you would need to stay in your home for at least five years. 

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On a long term scale, this proposed tax reform could decrease seller motivation.

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Overall, there is a lot of discussion about how these changes are really going to affect housing. In the short term we may not see a big impact, since interest rates and inventory are still both low. But as time goes on, this proposed tax reform will create less motivation for people to sell. Also, by basically tying people to their homes for longer periods of time, we’ll likely see some tightening inventory.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Don’t Miss Our Housing Happy Hour at Bay Park

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We’re excited to announce that we will now be hosting educational events around San Diego on the second Wednesday of every month. Our first one will take place on Wednesday, May 11 at Poseidon Project in Bay Park, just off of Napier Street, from 5:00 pm to 7:00 pm. 

At each happy hour, we will discuss the real estate market and different trends that are affecting how we conduct business. We might speak about lending, marketing, or how to manage your office more effectively.

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Our first event will be taking place on Wednesday, May 11 at Poseidon Project in Bay Park.

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We will also have set topics for each month. This month we will talk about first time home buyers. We’ll go through the entire process and also speak about what market is like for new home buyers right now.

Our second meeting in June will be held at Luce in Bay Park. The first twenty people there will receive a free drink!

We hope to see everyone there!

What Are the Hottest Neighborhoods in San Diego?

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I recently had the privilege of joining Sean Cahan, Derrick Evens, and Rebecca Peters on Smarter San Diego. They are a local program and they focus on old-school, unbiased journalism. I was asked to come on and talk about the Redevelopment of Bay Park and to see what it means for homeowners in the area. 

Bay Park is only now starting to get attention from home buyers. It’s been around for quite some time, and demand is beginning to grow quite steadily. On average, homes in the area are 1,300 sq. ft. and they will start off in mid $600k range. Sean Cahan, of Cornerstone Mortgage, says that jumbo loans are looking great right now if you need help financing one of these fabulous homes. 

Despite the homes being older and smaller, the neighborhood is much more economically viable for most first-time homeowners. You can find similar homes in La Jolla, but they are going to cost you an extra $200k. You could find a home in Bay Park that is similar in style and size, and that will have a view, and it’s going to cost much less. This is why Bay Park is getting so much buzz right now.

In fact, Sean Cahan and I frequently team up to flip homes, and we just sold one of these in Bay Park. However, we now have our eyes on the Sherman Heights area for more investment opportunities. Another area that I like is Imperial Beach, because some of the real estate you can find is amazing for it being only 12 blocks from the ocean. 

North County in San Diego is something that we aren’t quite sure about. Prices seem to be inching up a little too high, so we would recommend waiting and thinking before purchasing or investing in a property around there. 

Thanks for tuning in again, I just thought you’d like to see me in action on Smarter San Diego. Let me know if you have any more questions about investing in San Diego real estate!

A New Alternative to the Probate Process in San Diego

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You’ve probably heard about State Assembly Bill 139, but do you know what it does? The purpose of it is to provide an affordable option for seniors to traditional probate or estate planning. The goal was to pass the ownership of property directly to a beneficiary upon death without having to go through a probate. 

If you or any of your family members have yet to go through probate, know that it can be a lengthy, stressful, and expensive process. If you would like additional information on this, or if you need any forms, don’t hesitate to reach out to us. Or, if you would like to talk to an estate planning attorney or real estate attorney, please don’t hesitate to let us know. We have some fabulous resources we would be happy to share with you! 

Of course, we’re also available to help you with your real estate needs at any time. We would love to hear from you! 

What You Need to Know About Home Inspections

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Today, I'm going to talk to you about one of the most important parts of the real estate transaction: the home inspection.

In California, you have 17 days to complete all your buyer investigations unless you negotiate otherwise. In those first few days, we hire a home inspector. Home inspectors aren't licensed in California, but there are some certification agencies, and we have some great referral partners for you as well.

A home inspector is a generalist. They will crawl over every inch of the house and check the roof, the plumbing, the basement, and everything else. The home inspector looks for any indication that bigger problems might arise in the future. That way, you can prevent those problems, and you know whether you need to hire a specialist, like a plumber or electrician.

We recommend attending the home inspection for at least the last half hour in order to walk through the home with the inspector. Then, he can point out everything he's found, which can help you better understand the home inspector's report.

As a buyer, you have the right to request repairs from the sellers. The seller is not required to make these repairs, but there are a few health and safety ones that you can negotiate on.

Once you have the seller's response, you can decide whether or not to move forward with the transaction. Even if you don't get everything you ask for, the home inspection has at least opened your eyes to any issues you need to take care of in the future. It's best to know exactly what you're getting into when buying a new home.

If you have any questions, give us a call or send us an email. We look forward to hearing from you!

10 Tips for Throwing a Great Tailgate or Labor Day Party!

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Today, we're going to do something a little different. With football season just around the corner, we thought we'd share a video that I found on HGTV featuring 10 tips for throwing a great tailgate party!

1.    Be literal. If you or your friend has a truck, use a tailgate as the serving station.

2.    For lighting, use paper lanterns in team colors. It's easiest to hang them with zip ties. They are better than balloons, and they're reusable!

3.    Paint a plain cooler with your team colors. For best results, be sure to use spray paint designed for plastic.

4.    Use a silverware caddy. Use an easy-to-transport toolbox caddy for silverware and sauces.

5.    Make chip bag tacos. You want to have a simple menu, and walking tacos are delicious and easy to handle.

6.    Or, try chili and cornbread mason jars. These are a great alternative to the chip bag tacos!

7.    Don't forget the drinks! Bourbon-spiked hot chocolate is perfect for a cool fall day. Make sure you bring along unbreakable mugs.

8.    Serve a unique dessert. We recommend pennant cookies. Simply cut cookie bars into pennants.

9.    Create a hand washing station. Bring paper towels, soap, and water.

10.  Pre-game activities. Create a DIY ball toss using a drop cloth.

Even using just a few of these will make for a memorable tailgate party! We hope you found some of these ideas helpful. As always, if you have any questions about real estate, give us a call or send us an email. We look forward to hearing from you!

We could use your help!

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View our New Location

We have good news for you today - we're opening another office in Bay Park. We're very fortunate to be so blessed with success - so thank you for all of your support!

We really like this new location, which is at 4112 Napier St, right next to Bay Park Coffee and Luce. 

However, the building is 2,750 sq. ft. and we just don't need all that space. We want to find a good business to house there, and we want your input on what we should do.

If you know anyone looking for space, please don't hesitate to contact us!

As always, come to us with all of your questions about San Diego real estate. We would be very happy to help you!

Where Is the San Diego Market Heading?

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The first quarter numbers are finally in for the San Diego real estate market, so today I want to take a look at some of the trends we've seen since this time last year! 

Right now, our market is being driven by low inventory. There are only 2-3 months of available inventory right now, which means buyer demand would eat up our existing inventory in only a few months if no homes were to come on the market. A normal market is when we have an inventory of 4-6 months, so we're clearly in a seller's market at the moment. 

The second force that's driving our market is low interest rates, which have increased buyer demand. Buyers are out and looking for homes, but the lack of available homes is really hampering their ability to find one. Because of these conditions, we've seen a 6% increase in median home price since March of 2014. 

If you're a seller, you are in a fantastic position to get top dollar for your home. If you have a great location and your home is priced right, you have a very good chance of receiving multiple offers. As a buyer, while the market is difficult for you right now, there are signs of hope. The Fed has said they aren't going to touch interest rates for a while, and we've seen a substantial amount of inventory added to the market in the past couple weeks. We're still seeing a rapid turnover, but inventory is slowly starting to increase! Hopefully, there will be a lot more options for buyers soon!

If you have any questions about market conditions in your area, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you! 

8 Fees that Frustrate Many Buyers and What You Can Do About Them!

The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.

Buying a home can be a stressful experience for many reasons. One of the things buyers really get worked up about is unexpected fees. Today, we want to cover 8 common fees you'll run into when buying a home, so you're not taken off guard when you encounter them!

When most people prepare to buy a home, they figure out how much of a down payment they are going to need, but aren't aware that there will be additional fees. These fees can add up to as much as 3% of the purchase cost, which is often an unpleasant surprise for buyers. If you're purchasing a $500,000 home, not only will you need $50,000 for a 10% down payment, but you'll need $5,000-$15,000 in additional fees! These include:

1. Property taxes: These are prorated, and you'll split these fees with the seller based on your date of close.
2. Hazard insurance: Most lenders are also going to require you to prepay a full year of hazard insurance. 
3. Interest: Depending on when you close, you could pay up to a full month's worth of interest up front.
4. PMI: If you put less than 20% down, you might be subject to credit mortgage insurance.
5. Title insurance: These are typically split, with the seller paying for your policy, while you buy title insurance for the lender.
6. Escrow fees: These are usually split with the seller.
7. Loan origination: This depends on your lender.
8. Loan discount: If you're trying to get a lower rate, you may be able to pay some upfront fees to get one. 

These are 8 fees you really need to prepare for when you're getting ready to buy a home. You don't want to find the perfect home, only to realize you can't afford it after all the various fees are accounted for.  

There are a handful of ways you can reduce these fees, such as a seller credit, which we would love to discuss with you! If you have any questions about this topic, or would like real estate assistance of any kind, don't hesitate to give us a call or shoot us an email. We would love to be your real estate resource this year! 

What Will San Diego Real Estate Look Like in 2015?

The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.

Hello and welcome back! I hope you had a wonderful holiday season! Today, I want to give you a brief overview of what you can expect to see from San Diego real estate in the coming months.

In the second half of 2014 we saw the market slow down as more and more sellers put their homes on the market - inventory increased, buyers became more selective, and market time increased. I expect this trend to continue in 2015, with a few things to look out for:

1. Inventory: In the first quarter I expect to see a very active market, as sellers rush to put their homes up for sale and buyers take advantage of low interest rates.
2. Affordability: The expectation is that interest rates will increase by about half a point in 2015, which will affect the amount of home you're able to afford.
3. Growing economy: The more money people make, the more affordable homes are relative to their income. 

The predictions from the big online portals, like Realtor.com and Zillow, suggest we'll see 4% growth in appreciation in San Diego over the next 12 months. Remember, that number will vary depending on the area of concern.

If you have any questions about changing market conditions and what they mean for you, don't hesitate to give us a call or shoot us an email. We would love to hear from you!

We Have Listings Other Agents Aren't Telling You About

The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.

Today, we want to bring your attention to the many listings we have on the market. It's currently a fantastic time to buy because there isn't nearly as much competition out there as usual, so buyers can gain leverage. Additionally, interest rates are still at historical lows, which means that it's often cheaper to own than it is to rent. 

We can give you a sneak peek at upcoming listings if you're interested. If you have questions about any of these listings, give us a call or shoot us an email for more information and we'll get right back to you!

Thanks, and have a great week!

613 W. Maple St. San Diego, CA 92130 Bedrooms: 4 Baths: 3.5 Sq Ft: 2,500	4615 Pico St. #7 San Diego, CA 92109 Bedrooms: 2 Baths: 2 Sq Ft: 818
1124 Eureka St. #19 San Diego, CA 92110 Bedrooms: 2 Baths: 1 Sq Ft: 850	10464 Brooktree Terrace San Diego, CA 92131 Bedrooms: 4 Baths: 3.5 Sq Ft: 2,498
5162 Gardena Ave San Diego, CA 92110 Bedrooms: 3 (with optional 1) Baths: 2 Sq Ft: 1,200	IN ESCROW 3736 First Ave. San Diego, CA 92103 Bedrooms: 2  Baths: 2.5 Sq Ft: 1,124
700 Front St. #1508 San Diego, CA 92101 Bedrooms: 1  Baths: 1.5 Sq Ft: 1,200	4205 Ohio St. #202 San Diego, CA 92104 Bedrooms: 2  Baths: 2 Sq Ft: 840

00000 Wildcat Canyon Road

Lakeside, CA 92040

Lot Size: 20+ Acres

Upcoming!

4bed/2bath Remodeled Home in Bay Ho with a pool!

1bed/1bath Condo in the south end of Little Italy!

3bed/4bath Home close to the Tecolote Canyon Golf Course in Clairemont!

3bed/2bath Condo in Linda Vista, Close to shopping and restaurants!

2bed/1bath Condo in Linda Vista, Easy freeway access and close to Tecolote Park!