HOT TOPICS
THE SECRET TO MY SUCCESS IS
THAT I SPECIALIZE IN NICE
PEOPLE.
HOT TOPICS 10/4/09
Sign in a Store:
UNATTENDED CHILDREN WILL BE
GIVEN ESPRESSO AND A FREE
KITTEN !
CAPITAL GAINS
Barack Obama is
not the only threat to the
low 15% capital gains tax we
enjoy today. In 2011 the
laws we have now sunset and
the tax rate on long term
gains rises to 20%, pretty
much what Obama has been
suggesting we do now. It
might be important if you
have any big gain you want
to save taxes on, to look at
doing it sooner rather than
later.
BROADWAY NAVY COMPLEX
If You are
interested in the
development plans for the
Navy Broadway complex, the
Navy will be taking comments
and reviewing the draft 2008
Environmental Assessment, a
key opportunity to have your
thoughts heard. Tuesday,
October 7, 2008, 10 a.m. –
2 p.m. at the Navy Broadway
Complex, 937 Pacific
Highway, Building 12.
Parking is available on the
site from Pacific Highway.
COLDWELL BANKER iPHONE
SEARCHES
Coldwell Banker
now allows users of the
iphone technology to search
listings from their phone,
the first national real
estate company to do so. A
brief demonstration video is
at
http://coldwellbanker.com/servlet/News?action=viewNewsItem&contentld=14482382.
Blackberry is 3 weeks away!
REAL ESTATE TIMES
Now more than
ever our market dictates one
critical element. You must
deal only with people you
know you can trust. When
things are wonderful, almost
everyone is generous and
fair and trustworthy. When
things turn down, not so
much. There is almost
always a story to support
whatever someone wants to
say. So be sure that when
you are choosing a Realtor,
a lender, escrow, title, a
home inspector and any other
people to involve in your
decisions and execution, you
make sure to choose someone
whose standards stay the
course and will give you the
truth and integrity you
need.
HOT TOPICS 9/27/08
STATE OF THE STATUS
The Question about how are
things is so big, if anyone
tells you they KNOW, run!
This week Coldwell Banker
SoCal had their biggest
NUMBER OF CONTRACTS brought
into the office in one day
in 3 years. AND as you
know, financing is critical
to most transactions, and no
one knows what we have. Oh,
they say they do, but wait 5
days and see. I watched the
debate last night, not
exciting tv but I liked
that. This isn’t supposed
to be about drama, it is
supposed to be about leaders
making wise decisions. Yes,
I support one candidate more
than the other, but I felt
strongly that we were
watching two honorable men
with sincere intentions.
My friend Ed
just called from Iraq. He
is a Realtor who has put his
own shoulder, handiwork and
building intelligence into
remodeling homes here in
North Park. He went over
there a year ago as a
civilian worker. Curiosity
and wanting to do something
that mattered and other
things prompted this move.
Occasionally he has sent
photos and emails.
Regardless of the life-risk,
just don’t even talk to me
about working in 120° heat
in blowing dust and sand!
When asked, he said that he
has witnessed an enormous
change over there, that the
Iraqi people are now doing
most of the work and he
feels he is safe now.
Several months ago he had
sent a picture of himself
and others with their
helmets and weapons. He is
very anxious to get home in
mid-January, but knows a job
he did made a real
difference. It is important
to know how/why things
happened for future decision
making, but it is also true
that we are where we are,
and our job now is to make
the best results from that
fact. People like Ed are
doing so.
ON THE LIGHTER SIDE…
The
playground at Pioneer Park
should be returned to
service this week. The
original laying of the
rubber underfoot was not
done properly and was
already showing cracks and
problems. Fortunately the
contractor stood up to his
guarantee and is fixing it.
Bob Gillingham,
President of the Mission
Hills Town Council,
Principal at Francis Parker
Lower School, and chair of
the Playground Phase 2
committee, is beginning work
with the City for the
upgrade to the picnic area.
After this is completed,
Phase 3, the bathroom
upgrades and finishing of
ADA required modification
ns will be undertaken, and
already people are talking
about expansion of the
playground. We could end up
at Phase 99!
By the way, the
big tree was not purposely
removed, it cracked and
split and fell and was
hauled away because of its
own demise.
The Mission
Hills Town Council is
hosting a MEET MISSION
HILLS event at the
parking lots on Fort
Stockton, Goldfinch-Hawk
streets on November 15th.
There will be dozens of
MISSION HILLS-ONLY
businesses and organizations
and groups, and activities
for children, and fun
reasons for you to come and
meet and greet your
neighbors 10-am – 2-pm, so
circle your calendar and
save the date!
HOT TOPICS 9/21/08
2009 APARTMENT AND
COMMERCIAL PREDICTIONS
I went to the
San Diego Apartment
Association and CCIM meeting
to learn what is happening
beyond my immediate world.
The data was all pointing to
declines and reasons, of
course, but the most
conclusive information
suggested that recovery in
real estate, construction
and financing will begin in
2010. The biggest issues
today are liquidity –
finding lenders with money
to lend! – and consumer
confidence, which is more
shrug than no. We don’t
know. And that is the
problem. Dr. Alan Gin of
USD suggested that we are in
a worldwide economic
slowdown, and we should be
grateful at least we are in
the U.S. Our national job
growth is the worst since
the 1930’s. And San Diego
is not much better. I will
be happy to email you a copy
of my 2-1/2 pages of notes,
if you wish to let me know.
MISSION HILLS AIRPORT
AUTHORITY FORUM
A VERY
interesting forum regarding
the improvements to be made
to Lindbergh Field was
convened at Francis Parker
Lower School auditorium this
past week by our community
delegate Bill Urban. First
people need to recognize
that “no” is not an option.
Progress usually takes as it
gives, but this upgrade is
needed for safety, economic
and convenience reasons.
A second runway cannot be
added to Lindbergh, so the
plans for this renovation
are still not long terms,
but they are 7-10 years away
just for short term. The
airport generates $10
billion in revenue to
our economy and 1 in 16
jobs, or 115,000 jobs are
airport related. 53% of the
passengers are leisure
travelers, but the business
segment, which is high in
San Diego, is critical to
our economy. Right now we
need more gates, more
taxiway space, and more
parking. The next steps are
to: 1) increase the
efficiency of the existing
facility, 2) to expand
within the space we have.
Full information on to-date
planning is available at
www.sanplan. com and
www.DestinationLindbergh. Mr.
Holland Young, savvy and
articulate airport planner,
explained that the current
plan is being done by a
joint committee of SanDag,
City of San Diego, the
Airport Authority, San Diego
County, Metropolitan Transit
System, The Port of San
Diego, North County Transit,
and the Department of
Defense. Also part of the
Regional Policy Committee
are Mayor Jerry Sanders and
Vice Chair Alan Bersin. The
intention is to look at the
issues and then create a
vision all can share by
February 2009. This is
not a tomorrow issue, this
is now. Terminal 2 will
have 10 additional gates.
Security, checking and
pickup/delivery will be
significantly addressed.
Among the issues under
discussion are the
additional of flight
terminal space on the north
side along Pacific Highway
or not, the addition of
parking on north or south
sides, and the biggest
change but probably the most
beneficial at this point, a
hub for intermodal
transportation which will
bring together automobiles,
busses, high speed trains,
trolleys and probably other
consumer transit means.
While this looms large in
imagination, it could also
effectively reduce
congestion on surface roads
to the airport. A question
of interest to many
attendees was the amount of
air pollution the planes
propel. For that reason in
particular it seems logical
to me to keep the terminal
expansions over by the water
– Point Loma is too far away
to be affected – and put the
parking/transport-ation over
on our side. There is no
none-of-the-above option!
Paying attention to this
issue will be very important
to the Mission Hills
community, so we can grab
its opportunities and
minimize its downsides.
Anyone can call Bill Urban
directly for information at
619-295-3564.
TRADE YOUR AUTO, BOAT OR RV
FOR REAL ESTATE – Long time commercial Realtor Gary
Furstenfeld is advertising
for people to trade into 2-4
unit property and live
rent-free while the other
units pay the expenses. You
can look at his website:
TheFurstenfeldGroup.com for
more information. This is
not an endorsement just
information, but you never
know where those deals will
come from!
MULTIPLE GENERATION
HOUSEHOLDS ARE ON THE RISE. Financial necessity and
convenience can have as many
positive as well as negative
results. Sharing a room
with my little sister when I
was growing up was annoying,
but I only had to do have
the vacuuming! It’s that
kind of thin. With pensions
and retirement funds
declining and childcare,
housing and other expenses
increases, there are
benefits to the burgeoning
parent-child-grandparent
family homes. Dual-couple
homes are another growing
segment, as are single
co-owners. The value of
property ownership is not in
question!
USD IS ONE OF 20 NATIONAL
UNIVERSITIES RANKED
as “Up and Coming Schools”
by U.S. News and World
Report. USD was
ranked ninth among the top
20 national colleges and
universities for making
“promising and innovative
changes in academics,
faculty, students, campus or
facilities.”
REAL ESTATE
LISTINGS TODAY ARE BANANAS.
THEY HAVE A SHORT LIFE
BEFORE THEY GET OVERRIPE!
HOT TOPICS 9/6/08
BEST HAULING VALUE
If you are in
clean out mode, or dealing
with big remodel or emptying
parent’s home or changing
out garden entirely, etc.
and need a big guy with
truck and hauling license,
you will find best price,
attitude and work from
Robert Cannon 619-448-2929.
Trust me, he is
exceptional.
WASHINGTON-GOLDFINCH
INTERSECTION “IMPROVEMENTS” –
Well, whether
you agree or not with the
colors, plants, pavings,
etc, the work on this hub
intersection is completing
this week with final
striping to be done. True,
the pop-outs make the bus an
obstruction to an entire
lane, they preclude right
turns on red lights and
generally annoy drivers, but
they are there to protect
the safety of people who
cannot cross as easily or
quickly as our more agile
members, and someday, that
will be all of use. It
certainly does look better!
THE NEWEST HOMEBUYERS
Generation &,
born 1980 – 1999, is the
largest generation since the
baby boom and, according to
the National Association of
Realtors, will make up the
bulk of the U.S. population
within 20 years. Most
important, they are buying
their first homes now, at an
earlier age than preceding
generations. They live on
tight schedules. They are
wirelessly connected to
everything. They know what
they are looking for and
what their price range is,
and they expect to get it.
The want the most house for
their dollar, a good
neighborhood, 3 bedrooms, 2
baths, a yard for their dog
and future family, and open
flow without a lot of choppy
walls and halls, and 52% of
them think a home is a
better investment than the
stock market. These people
will be driving the market
for a long time.
A N D ….DIDJA
SEE THE UNION-TRIBUNE THIS
WEEK?
Roger Showley,
unquestionably the most
negative reporter on the
staff regarding real estate,
reported that a think tank
in Massachusetts determined
that San Diego is the MOST
UNDERVALUED city market in
the U.S. Nice that other
people know what we know!
HOT TOPICS 8/30/08
SMALL BUSINESS TAKING BIG
HITS
– Simply as a result of the
“economy of size”, having
less percentage of
flexibility, many small
businesses are suffering
greatly in this economic
climate. Joseph R.
Cardamone, President of the
U.S. Federation of Small
Businesses, suggests several
survival tips to these
entrepreneurs: ● Making
sure that customers can and
will pay on time. This is
not the time to be making
long term “Loans” to
slow-pay customers.
Sometimes it is even worth a
pre-pay discount or
incentive to get that
revenue in. ● Using
technology efficiently.
Taking a little time to
learn to use time and money
saving technology can boost
results. ● Instituting a
charge for those “free”
services that take time and
effort off of
revenue-producing activity
may also benefit you by
causing the customer to
recognize the value of that
service. ● Focus more on
developing your business
with existing customers than
the generally more costly
prospecting for new ones.
This can also serve to
enhance your customer
relationships and service as
you talk to each to find new
ways to provide your product
or service to their needs.
● Take maximum advantage of
your website. Add
information that may attract
customers and possibly
upgrade your magnetism to
search engines. Your
website address is often
more important than your
physical address and can be
a critical presentation of
your value, status,
presentation and acumen. ●
Look for ways to streamline
work – bundling errands,
using the U.S.P.S. package
pickup service, offering
little $ but big attention
perks to point out to your
employees that you value
them. ● And overall,
keeping focused on your
priorities.
….SOURCED WITH
ADMIRATION FROM: SAN
DIEGO METROPOLITAN
Business Report dated
August 22, 2008.
SOME INTERESTING FACTS ABOUT
REAL ESTATE
-
In the past 40 years,
property values have
appreciated an average
of 6% annually.
-
You can’t time the real
estate market, it is
time IN the market that
pays.
-
This period we are in is
what opportunity looks
and feels like.
Especially if you are
wanting to move up.
Whatever the percentage
of slippage, you save
more in actual dollars
on your higher purchase
than you lose on the
lower sale.
MARK TWAIN SAID: “Buy land,
they stopped making it!”
HOT TOPICS 8/23/08
COMPRESSION
This seems to be
the by-word right now. All
people are compressing.
Businesses are prioritizing
and making fewer big leaps
of faith. Individuals are
looking for housing and
investment needs not
wishes. We are carefully
husbanding our water and
energy uses, and taking care
of things we might have
thought of as “disposable”.
As a “senior”, I wonder if
this also leads to a little
more people and little less
technology, and I hope so.
Here we are in 2008 and I am
still not ready for 1984,
George Orwell!
JULY STATS ARE IN
The San Diego
Association of Realtors
reports that the sale of
Single Family Homes in the
county rose 11% over June,
and attached homes rose
13.5%. Compared to a year
ago, the increases are 33%
and 17% respectively.
Although average and median
prices are down overall from
last year, the market is
showing positive signs of
activity.
THE BEST COMPUTER TECHS
Malcolm and
Samantha Hargrave own MD
COMPUTERS, 4869 Convoy
Street (between Balboa and
Clairemont Mesa) 92111,
858-492-1288,
repairs@sandiegolaptops.com.
But they do laptops and real
computers. They can recover
your data (been there, ugly
panic but they saved me!
Twice!), sales and upgrades,
onsite and emergency
service, repairs, virus and
spyware removal. Secret
mobile number:
858-492-1191. I have been
grateful to them for years,
and they have moved to a new
site a couple blocks north
of their old, worth every
foot!
IMPORTANT RETIREMENT
INFORMATION.
As we all know, when we hit retirement age we come face to face
with the fact that it may be
time to relocate. The big
question is: where to? Here
are some tips.
You can live in Phoenix, Arizona where.....
1. You are willing to park 3 blocks away because you found shade.
2. You can open and drive
your car without touching
the car door or the steering
wheel.
3. You've experienced condensation on your butt from the hot water
in the toilet bowl.
4. You would give anything to be able to splash cold water on your
face.
5. You can attend any function wearing shorts and a tank top.
6. "Dress Code" is meaningless at high schools and universities.
Picture lingerie ads.
7. You can drive for 4 hours in one direction and never leave town.
8. You have over 100 recipes for Mexican food.
9. The 4 seasons are: tolerable, hot, really hot, and ARE YOU
KIDDING ME??!!
10. You know that "dry heat" is comparable to what hits you in the
face when you open your oven
door.
You can Live in California where...
1. You make over $250,000 and you still can't afford to buy a house.
2 The high school quarterback calls a time-out to answer his cell
phone.
3. The fastest part of your commute is going down your driveway.
4. You know how to eat an artichoke.
5. You drive your rented Mercedes to your neighborhood block party.
6. When someone asks you how far something is, you tell them how
long it will take to get
there rather than how many
miles away it is.
You can Live in New York City where...
1. You say "the city" and expect everyone to know you mean
Manhattan.
2. You have never been to the Statue of Liberty or the Empire
State Building.
3. You can get into a four-hour argument about how to get from
Columbus Circle to Battery
Park, but can't find
Wisconsin on a map.
4 You think Central Park is "nature."
5. You believe that being able to swear at people in their own
language makes you
multi-lingual.
6. You've worn out a car horn.
7. You think eye contact is an act of aggression.
You can Live in Maine where...
1. You only have four spices: salt, pepper, ketchup, and Tabasco.
2. Halloween costumes fit over parkas.
3. You have more than one recipe for moose.
4. Sexy lingerie is anything flannel with less than eight buttons.
5. The four seasons are: winter, still winter, almost winter, and
construction.
You can Live in the Deep South where...
1. You can rent a movie and buy bait in the same store.
2. "y'all" is singular and "all y'all" is plural.
3. After five years you still hear, "You ain't from ' round here, are
Ya?"
4. "He needed killin' " is a valid defense .
5. Everyone has 2 first names: Billy Bob, Jimmy Bob, Mary Sue, Betty
Jean, MARY BETH, etc.
You can live in Colorado where...
1. You carry your $3,000 mountain bike atop your $500 car.
2. You tell your husband to pick up Granola on his way home and he
stops at the day care
center.
3. A pass does not involve a football or dating.
4. The top of your head is bald, but you still have a pony tail.
You can live in the Midwest where...
1. You've never met any celebrities, but the mayor knows your
name.
2. Your idea of a traffic jam is ten cars waiting to pass a
tractor.
3. You have had to switch from "heat" to "A/C" on the same day.
4. You end sentences with a preposition: "Where's my coat at?"
5. When asked how your trip was to any exotic place, you say, "It
was different!"
AND You can live in Florida where...
1. You eat dinner at 3:15 in the afternoon.
2. All purchases include a coupon of some kind -- even houses and
cars.
3. Everyone can recommend an excellent dermatologist.
4. Road construction never ends anywhere in the state.
5. Cars in front of you are often driven by headless people.
HOT TOPICS 8/10/08
MARKET SIGNS
Hard to read
when things are up and down
at the same time, but this
generally a sign of shift.
Another fact is that change
does not happen in a
moment. Sales of
condominiums Downtown were
up $21,000 June over May and
up $17,000 from the same
date a year ago. Volume
also increased 1/3 over the
past year.
And it SEEMS, we
don’t have enough volume to
be sure what is a trend what
is an aberration, that
housing has tightened up in
Mission Hills. There
doesn’t appear to be any
wiggle room. Pricing and
condition needs to be
perfect or buyers are
walking. Not negotiating,
walking.
SPECIAL AUCTION
Write down
August 23rd! The
Building Industry
Association of San Diego is
having a “few mansion’s
worth of high-end model home
furnishings and remodeling
supplies” at discount prices
in a special one-day-only
sale from 8 a.m. to 2 p.m.
at 3554 Ruffin Road in
Kearny Mesa.
And while you
are over there, TREAT
YOURSELF to a stop at
the Studio Diner.
If you haven’t already
been, this sleek chrome
1950’s diner is truly the
home of the best chili in
town and lots of other
typical diner food of
high-delicious! 4705 Ruffin
Road, between Clairemont
Mesa and Balboa.
THE TOP REASONS TO CONSIDER
BUYING NOW …IF YOU ARE IN THE POSITION TO DO
SO.
1. Housing is a
key driver of the economy
and a key investment for
most households, the source
of wealth for most people.
One of the harbingers on the
horizon is inflation. This
is also a key ingredient in
the determination of
interest rates and the
reason our rates were at
16-18% in the early 80’s.
As interest rates are
trending up, it is important
to know that a 1% increase
in a rate, can mean a 10%
increase in a payment.
Approximately. It is not a
direct line. For example:
It’s about
INCREASED AFFORDABILITY.
|
Purchase Price |
$500,000 |
$500,000 |
$500,000 |
|
Down Payment 10% |
$ 50,000 |
$ 50,000 |
$ 50,000 |
|
Loan Amount |
$450,000 |
$450,000 |
$450,000 |
|
Interest Rate |
6.5% |
7% |
7.5% |
|
Monthly Payment |
$2,844 |
$2,944 |
$ 3,146 |
Look at the different in
cost between rate increases
and price increases!
Rate increases are far more
costly! Interest rates are
driving up the cost of homes
even as prices fall.
The Federal Reserve has
signaled that it is worried
about inflation. The
Consumer Price Index (no
surprise!) has taken recent
jumps, and we may not have
rate cuts again for a long
time.
2. Real estate
is a strong long-term
investment. Stability is
key to building wealth and
in most cases stocks do not
compare with the stability
of real estate.
3. Today’s
market may be a disappearing
opportunity we will all wish
we had taken more advantage
of. It is an unusually
good opportunity to buy
rentals and other investment
property. And many REO’s
(“Real Estate Owned” – banks
who have already completed
the foreclosure process) are
selling at discounted
prices. It is also true in
San Diego today that your
“best discounts” are
generally not in the best
areas, so don’t let the
over-generalization of the
press fool you. A New York
client just realized today
she is not going to get a
$1,000,000 property for
$500,000, because she is
looking in the blue chip
areas for a premium product
which will still bring at
least $999,999!
4. With stocks
$200,000 will buy you
exactly $200,000 worth of
stocks. However with real
estate that same $200,000
can enable you to buy
$1,000,000 worth of real
estate, and if both of these
investments increase 10%,
you will have a 10% return
on the stock and a 50%
return on the real estate,
less costs and expenses plus
tax savings and write offs.
5. Inventory
is high and choices are
good. During low inventory
times, people are more
pressured to take what there
is.
6. With
inflation looming, home
prices are declining while
food, gas and all other
costs and unemployment are
increasing. The stock
market has lost …a bunch!
7. Changes are coming. In
May homes sales in
California were up 18% over
2007. It was also the
second month in a row with
an up tick. Applications
for new conventional loans
were up 11% and for FHA
loans up 17%. People are
recognizing an opportunity.
Sometimes what we all do in
times of stress determines
whether we will become steel
or slag.
HOT TOPICS 8/2/08
THAT WASN’T AN EARTHQUAKE…IT
WAS THE REAL ESTATE MARKET
HITTING BOTTOM! From my mouth to God’s ear.
VACATIONING AT HOME? Bet
you haven’t thought of…
DOWNTOWN INFORMATION CENTER
If you haven’t
yet taken advantage of a
trip to the Downtown
Information Center, you will
find this space full of
information about Downtown’s
renaissance. There is a
large model of the Downtown
area so you can see things
in perspective and where
things are going if you are
wondering what’s next. And
all kinds of information
about the history and
activities and
organizations. Wonderful
take-away brochures and maps
and help with anything.
They are going
to be easier to find than
ever. In Horton Plaza,
right above Long’s Drug
Store and next to Victoria’s
Secret. Now tell me you
can’t find that!
193 Horton
Plaza 619-235-2222 or
www.ccdc.com. You can
also invite speakers to your
meeting to inform your
friends and colleagues about
the most successful Downtown
since Bugsy Siegel!
They also
provide free bus tours of
Downtown. Call for
information or reservations
at the same number. I have
been twice and it is
fascinating!
TERMINALS TO TARMAC TOURS OF
SAN DIEGO INTERNATIONAL
AIRPORT
You might enjoy
a terminal and airfield bus
tour at Lindbergh Field.
From birds nesting to the
operation of our own
international airport, tours
are available 8 times a
month from 8a.m. to noon or
1p.m to 3p.m. You can call
619-400-2880.
Go to
www.sanplan.com for more
information!
5 COMMON CREDIT MISTAKES
THAT HURT YOUR SCORE
With lenders
being ever so focused on
loaning only to strong
credit score these days,
this is more important than
ever!
1. They say the
biggest mistake is closing
credit accounts, almost as
bad as missing a payment.
TWO reasons: 1), an account
that is open will remain in
your credit report for seven
years from the account’s
date of last activity. If
you close the account you
lose its positive
influence. What if you got
all A’s in college and your
record was expunged after 7
years and no one ever could
know that? Same. Good
credit only helps you. So
every 6 months or so use the
account for a small purchase
that you pay off as soon as
you receive the bill and
keep that positive report
active. 2). accounts that
are not used but are paid in
full are good things in your
“debt-to-limit” ratio. The
more credit you have and the
lower the percentage you use
the better for your score.
So, if you have to run some
of your credit up, but you
have those old one that are
clean, it keeps your score
in balance on the debt
ration and this is very
important.
2. Missing
payments. And the later the
payment the more severe the
credit damage. How long ago
was that late payment and
how frequently have you been
late are also considered. A
90-day past due is havoc on
your credit. The best you
can do is to bring your
account current as soon as
possible and communicate
with the creditor.
3. Settling
accounts – negotiating a
less than full payoff – is
just as negative as severe
late payments. If you can
arrange for the creditor to
accept a settlement amount
less than owed, negotiate to
have the lender report the
account as “paid in full”
rather than “settled.” This
can make your credit life so
much easier!
4. “Revolving
utilization”. This is the
percentage of debt against
your credit limits, as
referenced above in #1. The
most possible points will
accrue to the person whose
revolving utilization is 10%
or less of all available
credit. Now isn’t it nice
to have those old mostly
clean cards.
5. Another one
you know is excessively
applying for credit. Every
application puts an inquiry
on your credit record.
Consumers who have more
inquiries are higher credit
risks. An exception is
inquiries to mortgage
brokers within a short
period of time. It is
considered wise to shop
mortgages and this will not
lower your score. But
overall, the best way to
keep this score high is to
apply only when you need
to. Jumping from account to
account because they offer
miles or etc is not an
effective way to raise your
credit score.
GOVERNMENT IS
MAKING ME VERY ANGRY
While they are cannoodling
around doing sidesteps and
fancy talk, people who have
worked all their lives under
the rules are being
seriously hurt. Imagine
learning that your pension
was being taken for
operating costs (Delta
Airlines retirees). Or that
your medical benefits were
being reduced or cut
entirely (General Motors
retirees). I do not
understand why these monies,
earned by the retirees
during their years of
employment under the
agreements management and
employees made, are not
treated as “trust funds”.
Once the retiree is out, he
often doesn’t have a chance
or a choice to make up that
lost money. I think this is
criminal and I am hearing no
one do anything about it!
HOT TOPICS 7/20/08
YES, VIRGINIA, THIS IS A
BUYER’S MARKET . . . AND
WHERE WILL YOU BE WHEN IT IS
OVER ?!
BOTTLED WATER IN A CAR –
WARNING:
Scientists are suggesting
that water in plastic
bottles, that sits in the
hat of summer or sun-baked
cars, is subject to toxins
that leak from the plastic
into the water and cause…so
far…breast cancer. Glass
bottles or stainless steel
are recommended.
DRIVING TO SAVE GAS:
-
31-37% savings result
from accelerating gently
rather than gunning your
engine.
-
Slower speeds can save
12-14% on consumption.
Congress is talking
about 55mph again.
-
Cruise control is
smoother on the
transmission and sav-ier
on gas than the human
foot.
-
AIR CONDITIONING DOES
NOT CHANGE YOUR
MPG.
-
Tire pressure that is
too low wastes gas.
-
If you stop for more
than a minute, you save
more by turning off the
engine than by idling.
-
Can you work from home
1-2 days a week instead
of commuting?
-
Not news, but planning
your travel routes and
bunching your errands
can save a lot over the
long term.
-
Need I mention bikes and
feet?
IF YOU ARE A VETERAN:
Dust off your DD214 and talk
to a savvy lender about
using your VA benefits to
buy property while prices
and loans are good. You
can get a VA guaranteed loan
up to $1,000,000 in San
Diego County and pretty much
the same across the
country. IF you go on line
to check, be very careful
which sources you click
on. There are still
predatory lenders out
there. The government
guaranty of VA loans makes
lenders smile and be more
eager to hand out their
money. Downpayments are
only $0 up to a point, but
after that they are much
lower than conventional
loans and give you a benefit
you can enjoy for 30 years.
Some other benefits are:
1)
No private mortgage
insurance
2)
No prepayment penalties
3)
Competitive interest rates
4)
Loan qualifying can be
easier
5)
Seller can pay closing
costs.
HOT TOPICS 7/5/08
AND THIS IS WHY IT IS SO
HARD TO PREDICT! Records for the month of May 2008
show a 26.2% INCREASE in the
median home prices for
92103, and 24.7% INCREASE
for condominiums and 9% +
overall for all kinds of
housing. Now you see the
problem with statistics.
This doesn’t mean values
went up that much, it means
the median prices of the
homes that actually were
closed during May 2008 was
that much higher, not the
median VALUE of homes. If
one month we sell more big
homes and one month we sell
more small homes, it would
reflect in a drop in median
values, which MEANS
NOTHING! Just know
that you have to compare
apples and apples - similar
location, size, condition
and terms. Everything else
is guessing.
SOMETHING DIFFERENT.
For those of you who don’t
eschew the intuitive and
psychic arts, may I offer
you a gift. This week I met
with Jacqueline Valdez, who
refers to herself as an
intuitive counselor. I have
3 times before in my many
years met with such a
person. The first one was
my friend in Globe, Arizona,
whose unannounced and
unexpected automatic writing
during a party dislodged my
disbelief entirely by
writing down the entire
nonsense poem (like Lewis
Carroll’s “The slithy toves
do gyre and gamble in the
wabes” by the Cheshire Cat)
that my other friend dreamt
every night of her life
since childhood. One was a
client who surprised me
constantly by telling me
what was going on and worked
with health care
professionals, and later
healed a chronic physical
incapacity I had not ever
mentioned to anyone in a
20-minute energy maneuver.
And one I actually drove to
visit and hire, because of
the raves of a friend, but
with whom I had no
connection whatsoever. So,
for no especial reason, I
don’t look to anyone but me
for answers, I made an
appointment months ago to
see Jacqueline and the time
finally arrived on Tuesday.
Instantly I felt I was with
a friend, relaxed, and she
told me about me – right on!
– and she told me about Tom
– insights that were clear
once she pointed them out.
And we just talked. It was
the nicest experience. I
didn’t have any crisis
questions. Well, I guess I
could have asked what the
market will be doing, but I
don’t think psychics answer
those questions. If for fun
or support you are seeking
such an advisor, you cannot
go wrong with Jacqueline.
She is at 227 NORTH (for
those of you who don’t know
there are two) El Camino
Real #103 in Encinitas,
760-753-9148.
HOT TOPICS 6/28/08
WANT TO BE EXCITED ABOUT
YOUR GARDENER FOR A CHANGE? Call Richard Solansky,
R S LANDSCAPING SERVICES –
monthly maintenance, hedges,
total lawn care –
619-276-3219, or cell:
619-887-5254. If you ask 10
people how they feel about
their gardeners, 9 will be
disappointed. I am about to
change that by sharing
Richard!
LEADING ECONOMIC INDICATORS
THROUGH APRIL 2008 suggest
existing homes sales should
go up next 6 months, new
homes sales should stay
current, housing starts will
continue to decline,
affordability will continue
to improve, mortgage rates
should stay approximately
the same, employment should
increase and economic growth
should increase. Percentage
numbers are not great, but
the directions sound good.
This kind of reinforces the
Wall Street Journal
item about April 2008 being
the bottom we will look back
at. YES!
Good news for San Diego
specifically was reported by
the San Diego
Metropolitan that a
system for tracking new
technology companies put San
Diego among the top three
counties in the state.
Connect-track, launched by
Connect and the San Diego
Institute for Policy
Research, showed the state
adding 3227 companies in the
7 categories: software,
communications, pharma/bio/medical,
computer and electronics,
environmental technology,
defense and transportation,
and recreational goods. San
Diego was third behind Los
Angeles and Santa Clara.
Duane Roth, CEO of Connect,
said “San Diego’s economy
has become increasingly more
dependent on the high-value,
high-wage jobs created by
technology and life science
firms. This type of
economic activity will help
keep our region strong with
high-paying jobs in the tech
sector and a vital
innovation innovation
economy that attracts global
capital here to fuel further
growth.”
ALLARD JANSEN ARCHITECTS,
INC.,
architect of the highly
successful newer mixed use
in Kensington at the SW
corner of Marlborough and
Adams, is moving his office
to that location from their
previous site in Solana
Beach’s Design District.
Jansen is a highly
successful company with a
slate of gorgeous new
projects in our lives now,
and it is exciting to have
him back in the hub of our
City again.
CAUTION !!
If you have met with a loan
advisor and are banking on
your commitment from him,
it is VERY wise to check
back frequently. From
Friday to Monday loans may
change. Not just rates, but
terms. I had a buyer with a
90% loan in the $900,000’s
that was fine on Friday and
became only an 80% loan on
Monday, requiring that he
liquidate other investments,
etc. Radical shift that did
not, in his case, make
sense, and I could not find
an alternative other than
Home Equity seconds, etc.
Lenders are doing the
SHOCK-RECOVERY-BOUNCE and
just to protect your peace
of mind, you may want to
stay in touch with your
lender, and leave yourself a
little space, until you have
their money in hand!
HOT TOPICS 6/7/08
WALL STREET JOURNAL SAYS:
“HOUSING CRISIS OVER”.
Suggesting that April 2008
will mark the bottom of the
U.S. housing Market, Cyril
Moulle-Bertreaux, managing
partner of Traxis Partners
LP, a hedge fund firm based
in NY, was quoted by WSJ.
“A bottom”, the article
says, “means that the trend
is no longer getting worse,
which is the critical
factor. The housing bust is
nearly 3 years old, with
home sales having peaked in
July 2005. House prices
have fallen 10-15%, while
incomes have kept growing,
albeit more slowly lately,
and that means that homes on
average are back to be as
affordable as during the
best of times in the
1990’s.”
“In the past
five major housing
corrections (and there were
some big ones, such as in
the early 1980’s when home
sales fell by 50-60% and
prices fell 12-15% in real
terms, every time home sales
bottomed, the pace of
house-price declines halved
within one or two months.
Inventories are declining
because construction
activity has been falling.
Inventories will drop even
faster to an approximate 7
months supply by the end of
2008. This will have a
significant impact on
prices, although house
prices won’t stop falling
entirely until inventories
reach five months of supply
sometime in 2009. A
five-month supply has
historically signaled
tightness in the housing
market.”
“A great
majority of Americans buy
their houses with
mortgages. The most
important factor in deciding
what to pay for ahouse is
how much of one’s income is
required to be able to make
the mortgage payments on the
house. Today the rate on a
30-year, fixed rate mortgage
is 5.7%. Back in 1981 the
rate hit 18.5%. Comparisons
are misguided.”
“This is all
good news for the broader
economy. The housing bust
has been subtracting a full
percentage point from the
GDP for almost two years
now, which is very large for
a sector that represents
less than 5% of economic
activity. Housing led us
into this credit crisis and
this recession. It is
likely to lead us out. And
that process is underway
right now.”
DASH EXPRESS
is the first personal
navigation system with
two-way, Internet
connectivity. It allows
users to populate their Dash
GPS with information from
the Web.
Since winning the 2007 Inman
News Innovator of the Year
in the brokerage category,
Coldwell Banker has
continued to advance
emerging media to the
benefit of its customers.
And they are the first to
offer GPS technology to
their customers.
The Consumer Electronics
Association reports that
Americans spend an average
of 17 hours a week in their
cars. Sales of in-car GPS
systems are soaring. At
this time Dash Express is
the only web-based device
that can accept the feed
from
www.ColdwellBanker.com.
All Coldwell Banker listings
are fed to Dash. Dash
owners can easily add the
Coldwell Banker listings
button to their Dash
Express, and automatically
receive listings. The
listings appear in simple
text form and include:
price, features, address,
sales associate contact
information, and directions
to the home.
RESTAURANT TO ENJOY!
Wonderful discovery over at
Liberty Station. On the
road south of Von’s down
behind the Vons is a really
wonderful Italian find! Not
the traditional flocked
wallpaper and spaghetti
restaurant, but a lovely 1st
class contemporary
experience. Their food
choices are understandable,
but with a few choices of
something new and
unexpected. Their wine list
is (according to friends who
know more than I)
enjoyable. And the service
and atmosphere make the
entire visit a very well
