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Santaluz, one of my favorite communities in San Diego

TeamAguilar — Thu, 19 Aug 2010 23:51:09 +0000

I wanted to share a few listings that are currently available in the Santaluz community of San Diego County. This is one of my favorite areas of San Diego County. Just take a look at some of the photos below and it’s easy to see why. Unfortunately you need a couple million dollars to purchase any of these homes. The area is great, it has a world class gold course and it is so close to everything. It backs up to Rancho Santa Fe and Carmel Valley. It’s only a 5 minute drive to Del Mar and some beautiful beaches. If you have the means to purchase a home in this price range take a look at the homes available in the Santaluz community. You will not be disappointed!

Feel free to view all Santaluz homes by doing a search HERE.

$1,740,000 : 7511 Plein Aire, San Diego, CA 92127
	5 beds 6 full baths Year built: 2006 Size: 5545 sq ft Lot size: 67,082 sq ft Parking spots: 0
$1,795,000 : 8370 Sendero De Alba, San Diego, CA 92127
	5 beds 6 full baths Year built: 2003 Size: 5534 sq ft Lot size: 0 sq ft Parking spots: 0
$1,850,000 : 8194 Run of Knolls, San Diego, CA 92127
	5 beds 8 full baths Year built: 2009 Size: 6060 sq ft Lot size: 0 sq ft Parking spots: 0
$4,495,000 : 8304 Santaluz Pointe, San Diego, CA 92127
	5 beds 7 full baths Year built: 2008 Size: 6968 sq ft Lot size: 0 sq ft Parking spots: 0
$5,195,000 : 7908 Entrada De Luz East, San Diego, CA 92127
	6 beds 10 full baths Year built: 2006 Size: 10208 sq ft Lot size: 0 sq ft Parking spots: 12
$8,500,000 : 8543 Run of the Knolls, San Diego, CA 92127
	6 beds 7 full baths Year built: 2006 Size: 8800 sq ft Lot size: 0 sq ft Parking spots: 8

Alex Aguilar
Team Aguilar Real Estate Agent & Blogger!
San Diego Houses
Real Estate Blog

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U.S. Congress backs home buyer tax credit extension

TeamAguilar — Thu, 01 Jul 2010 19:02:01 +0000

It was good news for homebuyers all over the United States last June 30, as the US Congress finally approved a tax credit extension bill.

According to this tax credit extension bill, anyone trying to take advantage of the home buyer tax credit will have the closing deadline extended for those trying to buy homes. Originally, homebuyers who have signed contracts by April 30 needed to go to closing by June 30. With the new bill, they now have until the last day of September to close their purchases. According to real estate agents, many home buyers would not have been able to make the June 30 deadline, had it not been moved. The approval of this bill will also benefit settlement offices and banks, as they are already having a hard time dealing with the sheer number of people who are hastening to close their purchases by the end of June.

The Obama administration has so far been successful in jump starting the sales of American houses in the midst of the economic recession. Since the tax credit was initiated, residents all over the country have been rushing to buy their dream homes. This is because first-time homebuyers can get an $8,000 tax incentive, while homebuyers who are purchasing their primary residence can get as much as $6,500 as tax incentive. This tax credit program has been credited by many, including Senate Majority Leader Harry Reid, as the major factor in boosting up California’s economy and housing market. This is especially true in his hometown of Nevada, where foreclosures have become a common matter.

A bill that covered both the tax credit extension for homebuyers and an extension of the jobless aid program was actually proposed previously in the Senate, but was blocked by the Republicans. The bill fell short by a single vote. The proposition was to extend until November the said program, which provides benefits for residents who have been unemployed for a long time. Approval of this bill would have cost $34 billion; because of this, the Republicans objected. Instead, Mitch McConnell, the leader of the Republicans, suggested an extension of two months using the money from the economic stimulus program last year. The Democrats, however, objected to this. Senator Reid has said that he would again attempt to pass the bill after the recess on July 4th.

The tax credit extension bill has now been forwarded to the office of the President, and awaits his final approval. This has been very popular in markets where home prices have fallen. Homes for sell in El Cajon, a suburb of San Diego have seen an increase in sales because of the tax credit.

San Diego Golf Tournament Good for Local Economy

TeamAguilar — Tue, 09 Mar 2010 17:13:26 +0000

Tom Wilson is the Farmers Insurance Open’s tournament director whose golf course at Torrey Pines is about to tee off. Torrey Pines golf course is an amazing course just minutes away from La Jolla and Del Mar.

For almost two decades now, this tournament has suffered from sponsorship problems, scandals related to professional golfers, and natural disasters; hardly any good news has come their way at all.

After their long-time title sponsor, Buick, pulled out last year, the PGA Tour came together with Farmers Insurance for a year-long title deal for sponsorship that can be renewed to several years afterwards.

A lot of people know how many difficulties actually lie in actually getting businesses to open up their checkbooks for these things since they happen to be within contracting corporate environments, where each spent penny is justified and scrutinized.

Then, after Tiger Woods took a leave from the game, the PGA Tour really took its toll. Last year, attendance and hospitality activity were down. However, there is still an economic factor, so there is anticipation from Wilson’s part despite the low ticket sales.

With Woods out of the picture, a lot of people see San Diego’s Phil Mickelson’s chance to finally assert himself, so a lot of people might come to watch the new face of this tour. After all, Tiger Woods shouldn’t be the only professional golf player people pay attention to, right?

Values Go Down, Thanks to New Rules of Home Appraisal

TeamAguilar — Thu, 21 Jan 2010 09:36:46 +0000

Home buyers that take out home loans insured by the government may soon learn that their mortgage brokers cannot choose appraisers anymore. This has come about to make sure that appraisers do not get pressured into inflating values the of homes.

Starting next month, brokers of mortgage won’t have the power to order loan appraisals that are FHA-insured anymore. This would mean that consumer home appraisals are going to reflect the value of a home much more closely since brokers that would usually profit from approved loans won’t be choosing appraisers that could declare higher values.

However, there are certain organizations that state that changes and other attempts to reform the industry of appraisal hurts both appraisers and consumers because the brand new rules that have come about are resulting in home values that are extremely low since the appraisers are not familiar or experienced with the local markets. Plus, these appraisers are also slower and take their time in getting things done, resulting in the returned values being lower than they should be.

The changes started last year when a code was adopted and made to divide loan officers from hiring appraisers. This code meant that loan production personnel, brokers and realtors can no longer hire appraisers. Instead, lenders have to turn to management companies that normally hire appraisers to get jobs done.

Although the entire process has now changed, it still remains to be seen whether it was a smart move due to the inexperience of the appraisers now being given out and their lack of knowledge regarding certain areas.

More Cuts in Home Prices?

TeamAguilar — Tue, 19 Jan 2010 21:09:28 +0000

Fewer home sellers have cut down their home’s listing price as buyers rushed out to beat the increasing rates of interest rates and expiring tax credits.

As of the New Year, prices on 21% of homes were cut down at least once, 22% lower from the past month and 25.6% lower from two months ago. The amount of sellers lowering their asking price has gone down to extreme lows since last year while the average discount in homes with price reductions remained unchanged at 11% from the original prices.

If you happen to be a qualified buyer with a secure job, now would be the ideal time to get into the market due to the incredibly low borrowing expenses and the incentives of tax credit, which are the ultimate in price reductions for today’s home buyers. Unfortunately, both seem to be fleeting.

Average rates of mortgage within three decades have jumped from 4.71% to 5.14%, which slipped at the coming of 2010 but has gone to 6%.

With the rates still quite low and the tax credits still existing, home sellers have cut down by $21.2 billion from their asking prices, lower by 14% from last month and even more from two months before that.

Buyers that want to lock into the first-time tax credit or move-up credit of buyers have to sign up by the end of April, as well as close their loans by the time June ends. Sellers are likely to come face-to-face with the prospect of asking less for homes since these incentives tend to vanish while the borrowing expenses rise. Reductions are expected to rise again, as well, now that the extension deadline of tax credit is coming closer. However, mortgage rates are also expected to rise again, so they might cancel savings out from reductions in list prices.

The industry in our country is expected to look like a rollercoaster ride this year. Although several improvement signs have come about, 10% of today’s work force is still unemployed, thus clouding any outlook for the recovery of housing. Hopefully, things will stabilize by 2011.

Will China Have the Next Real Estate Bubble?

TeamAguilar — Thu, 14 Jan 2010 13:59:34 +0000

Prices of property are rising like crazy in China – so much so that a lot of bankers and investors (not to mention the Chinese government) are worrying about the next real estate bubble occurring there.

Because of this rise in housing prices, capital flows in China will now be monitored to stop any speculative funds from overseas from jeopardizing its property market. Plus, any Chinese family looking to buy a second home needs to make down payments of a minimum of 40%.

Investors have already seen a lot of regular warning signs starting to show. Due to low rates of interest, prices in both Beijing and Shanghai have already gone up twice and it seems that they will go even higher from here on out.

Several bankers and economists have pointed out that most real estate bubbles have crashed and resulted in slow recoveries and battered banks. Since China is a primary factor in global growth, however, a burst in their bubble could be one that affects the entire world.

But a lot of economists are optimistic and believe that the bubble will not break due to China’s strong buying power. Plus, China has quick economic growth, increasing family incomes, more city migration, and banking systems unaffected by residential mortgages.

There are still chances of a pop, though, and this could lead to Chinese construction slowing down and sending lots of people into unemployment. However, predictions state that this will not happen in China until urbanization slows down after more than a decade.