Penasquitos House for Rent

4 bedrooms, 3 baths, family room, backyard with a view.

I have a lovely house for rent in Rancho Penasquitos.  4 bedrooms, 3 baths, approx. 2005 sq. ft., kitchen with an eat-in nook, family room with fireplace.  Indoor laundry closet, 2 car garage.  Four large rooms upstairs.  Quiet neighborhood, near school, shopping and Doubletree Golf course and swim and tennis.  Rent is $2600/mo with gardener included.  Please contact me at 858-243-5719 or email jmccarthyhomes@gmail.com for more information. 

I can handle your rental needs too!  Property management experience for over 12 years.

For ALL your real estate needs contact me

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

$8000 First Time Home Buyer Tax Credit

This Month In Real Estate: 2009 First Time Home Buyer Tax Credit Special Edition

64 days and counting until Nov. 30th when the $8000 tax credit will expire unless extended. Buyers need to learn the details about the credit and act now to take advantage of this opportunity. Wouldn’t you like to have Uncle Sam give you up to $8000 just for buying a home this year? Watch the clip then visit – www.SanDiegoForeclosureGuide.com to search for houses or just email me and I will set-up a custom search for you.
Thanks
Janet McCarthy
858-243-5719
jmccarthyhomes@gmail.com

Home Sales Prices Drop

Todays San Diego Union (Sept. 25,2009) reported that, “single-family-home resales dipped unexpectedly last month (Aug), falling 2.7 percent from a month earlier (July)”.  This is a little odd considering that the summer months are always the most active.  Historically sales and market activity increase during the spring and summer months because many buyers and sellers want to move before school starts.  Considering the low interest rates ( still around 5%), and the $8000 tax credit deadline ( Nov. 30th until further notice), buyers certainly were inspired to buy.  Doubts about whether prices were going to drop even more weren’t part of the conversation.  Most buyers feel confident that they are buying at the low of the market and aren’t worried about negative equity.  However according to the Union article, “ Though prices have stabilized this summer, many economists are forecasting a downward turn over the fall and winter and expect prices to finally hit bottom early next year”.  Wow, I’m impressed with their crystal ball.  Although there are still lots of foreclosures, pre-foreclosures and short sales which seriously effect a regular sellers sales price and ability to sell, they are no longer offering the deals they once did.  Stories about banks paying closing costs and giving buyer concessions have almost disappeared, so if you’re getting one or got one, kudos to you.  Consequently, buyers are on the hunt for the “regular seller” and determined to avoid the bank market.  The economists prediction about prices bottoming out next year doesn’t make sense to me because the market always picks up at the beginning of the year.  Once the holidays are over and the decorations are packed away sellers get serious and buyers start shopping again.  It’s a predictable cycle.  My personal advise and remember I want to list houses, is to wait until at least the middle of January.  Yes, you could sell your house now, but  you’ll probably get a lower offer and they will ask for concessions. 

I strongly advise that sellers study the market, prepare their house; that means cleaning, de-cluttering and updating and plan a strong debut.  The more you maintain control of the situation the better the results.  If you don’t prepare properly – even by simply timing the market right, then you can expect to take a hit.

To see all the houses for sale in San Diego visit, www.SanDiegoforeclosureGuide.com.

Call me today for a FREE market evaluation.

Thanks

Janet McCarthy

jmccarthyhomes@gmail.com

858-243-5719

House for Rent in Penasquitos – 92129

 Lovely 4 bedroom, 3 bath house with 2005 sq. ft.  Vaulted ceilings, eat-in kitchen, fireplace in family room, full downstairs bath and in-door laundry area.  Four large bedrooms upstairs, large master with walk-in closet all in like new condition.  Back yard has tile and stone patio with three-tiered fountain and unforgettable views of the mountains.  Near shopping, golf and PUSD schools.  Avail Oct. 1st,  Rent is $2600.  Pets on approval. 

MLS # 090053957

Call me today to arrange a visit

Thanks

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

 

Pre-foreclosure versus Foreclosures – When is the Best time to buy?

Most buyers want to buy a foreclosure because they think it is the best opportunity to buy a house.  However, it is often a difficult process to deal with and meet or rather accept the banks demands.  Often foreclosures or REO’s ( real estate owned) receive multiple offers because banks list these houses at below market prices.  The bidding wars created from the multiple offers drive the price up and very often the final sales price is typical.  Banks don’t want to accept VA loans because they require the bank to make repairs necessary for habitability.  This complicates the process and increases the banks committment.  Most REO’s are sold, “As Is”, simply because the bank does not want to get involved with making repairs.  Buyers are faced with paying to replace appliances, termite costs and all other issues.  Another purchase option is the pre-foreclosure. 

There are four distinct time periods:

 (1) Preforeclosure – the period before the notice of default ( NOD) is filed

 (2) the period after the notice of default is filed

 (3) the foreclosure sale itself

 (4) after the sale when the property belongs to the bank-REO.

 Buying in the preforeclosure stage over the foreclosure auction are numerous.

1. You will be able to inspect the property. This is a huge plus because you will know how much to budget for fix up. There is no guessing or nasty surprises. Auction properties are usually not available for inspection.

2. The foreclosure auction requires that you have the MONEY at the auction. You must make arrangements in advance to have all the funds available.

4. Title insurance is may be difficult to obtain.  Leins, attachments and other issues remaining fromt he previous owner may not have been cleared properly. 

5. When you buy at the foreclosure auction you don’t know what type of people you will have to deal with that may be living in the property or any information about the previous owners.  Renters left behind could be very difficult to deal with. In preforeclosure you will have worked directly with the owners so you know what to expect.

6. Property insurance may be difficult or even impossible to obtain. Insurers are selective about what they will insure and they will run checks to see if the property has ever had a claim filed against it. You can verify that the property is insurable in a preforclosure situation.

7.  If you win the bid for the house you can not re-negotiate any issues.  All sales are final.  Discover a cracked slab or crumbling roof during the physical inspection and you can re-negotiate with the owner, not at an auction – All Sales are Final.

8. You have the added bonus of being able to help the owners save their credit from further damage resulting from a foreclosure when you buy preforeclosure.

These are just some reasons you may want to avoid the foreclosure auction and look at preforeclosure investing.

If you are searching for a San Diego home visit – www.SanDiegoForeclosureGuide.com, or contact me and I will set-up a custom search for you.  You will receive all the homes that match your search criteria automatically.

Thanks,

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

4S Ranch-Del Norte High & Oak Valley

Located in the North County of San Diego, west of Rancho Penasquitos and Rancho Bernardo 4S Ranch is a master-planned community surrounded by parks, walking trails, shopping and now two new schools.

With the addition of Del Norte High School the Poway Unified School district now has five high schools to offer its residents.  All of the existing schools; Mt. Carmel, Poway High, Rancho Bernardo High and Westview, regularly earn a spot in the top 10 schools of San Diego.  Rankings complied by school ratings.com gives Mt. Carmel a 9 out of 10 and score of 827, Rancho Bernardo high 10 out of 10 and 834 score and Westview 10 out of 10 with an 834 score as well.  Oddly, they omitted Poway High from the list.  Del Norte High opened on Aug. 20, 2009 with approx. 700 students from the surrounding areas.

Being a new community 4S Ranch has a Mello-Roos attached to each residence ranging from $300 to $500.  The Mello-Roos fees cover development of schools, libraries, and infrastructure.  The benefits are obvious when visiting the community where new buildings, parks and state of the art design are unique to this area. 

4S Ranch is one of only five communities in San Diego designed and built according to strict “fire safe” construction standards. These standards resulted in not a single home being lost or even damaged in any of these communities during the October 2007 fires which affected much of Southern California and burned over 2000 homes elsewhere throughout Southern California. The “Shelter in Place” construction concept of these communities was tested and passed through the fires without any damage.

Are you considering buying, selling or investing in 4S Ranch?  Visit www.SanDiegoForeclosureGuide.com to view all the homes for sale in San Diego.  Contact me at

jmccarthyhomes@gmail.com

858-243-5719

$8,000 tax rebate and Home Owner Tax benefits

Escondido 4 bedroom + , 2 baths asking is $259,000!

Many first time buyers struggle with making the big leap to homeownership because they have simply become used to renting. 

However, the following information taken from the California Association of Realtors newsletter shows significant tax benefits for buying in 2009.

The Stimulus Bill passed in February 2009 provides first-time home buyers a Home Buyer Tax Credit (HBTC) of 10 percent

of the purchase price of the home up to $8,000 [note that in 2009 (until 12/1/09) first-time buyers can take advantage

of up to an $8,000 tax credit. And if it is new construction, an additional $10,000 tax credit is available

from the state of California.

Is it better to own or rent?

 In order to determine the tax benefits of buying in 2009, the following analysis takes into account the five-year tax savings of owning

versus renting. It incorporates the existing tax benefits of deducting mortgage interest and property taxes as well as the

HBTC in 2009. For example, consider two households with the same income of $48,900 a year. This is the minimum

income needed to purchase an entry-level home at $248,000. Purchasing this home at the prevailing market factors for

first-time buyers will give the homeowner a tax deduction of more than $15,800 in the first year of ownership as well as

the one-time tax credit of $8,000. For renters, they will most likely be eligible to take only the IRS Standard deduction of

$10,900. In the first year, the difference in the overall tax liability totals more than $8,700 in favor of first-time buyers.

Over five years, the overall tax liability savings is well more than $11,000 for first-time home buyers purchasing in 2009.

In addition, when taking into account the out-of-pocket monthly expenses, this household saves much more. Once all

of the homeownership benefits as well as the discounts taking place in today’s real estate market are factored in, 2009

makes for a special year to buy a home for first-time buyers.

Now is the time to buy property in San Diego.  Tax benefits of up to $8,000, low interest rates and low market prices combine to provide

buyers with the most promising opportunity to change their financial picture. 

If you are thinking of buying, selling or investing please contact me -

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

  

 

Douglas MacArthur:

There is no security on this earth. Only opportunity.

 

Best Deal in San Diego Homes

One of the best deals in San Diego homes , in my opinion, is right here in my own neighborhood; Rancho Penasquitos.  5 bedrooms with one downstairs and a full bath, 3 baths, three car garage, over 2600 sq. ft.,  tile floors, granite counters, upgraded baths, view lot, on a quiet street and in a great neighborhood – I did say it was in my neighborhood didn’t I?  Asking price is below market at $549,000. If your interested and you should be because it’s a great house – I live in the same model, please contact me ASAP to make an appointment.  Sorry no picture for you because I really would like to get a chance to meet you.  I know how you love to remain anonymous and shop the internet looking for deals.  That’s great but I need you to learn how good I am at helping people buy homes and I need you to learn what kind of person I am. 

Buyers love to wait.  They want to wait until the prices drop or until they have saved more money or until they pay off their credit card bill or until their son gets out of high school or…. I ‘ve heard all the great reasons why they should wait.  What they’re really saying is that they are afraid. They’re afraid of making the wrong choice and they are afraid of change.  Buying a house means moving out and moving in.  It means looking for a loan and it means getting a loan and having to make that payment.  Buyers who are waiting are really afraid to make a decision.  My answer is to learn what the issues are and to address those one at a time.  What are you really waiting for when prices are at their lowest in years, interest rates are around 5% and you have a tax credit of up to $8,000. 

Get the facts and learn how to buy a house by contacting me today with all your questions and concerns and then let’s develop a buying strategy so that you can become a homeowner.

Now, remember that best deal in San Diego house I spoke of?  It’s in Rancho Penasquitos and it’s vacant so you can see it anytime.  Contact me today

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

“Each time we face our fear, we gain strength, courage and confidence in the doing”.

Extending the $8,000 Tax Credit – HR 2801 HOME Act of 2009

 HR  2801 or Home Ownership Moves the Economy (HOME) Act of 2009, aims to make the current $8,000 first-time home buyer tax credit available to literally anyone that purchases a primary residence through the end of 2010. This bill was introduced back in Feb. and passed the House in March.  The bill now goes to be voted on in the Senate. 

The bill, introduced by Howard Coble (R-N.C.), extends the current tax break to anyone “who purchases a principal residence” through Jan. 1, 2011. It also lifts the income limitation (currently, singles earning more than $75,000 and couples earning more than $150,000 are disqualified) but keeps the $8,000 maximum credit, depending on the value of the home.

The bill extends the repayment waiver to account for the extended credit availability. Current law states the tax credit does not have to be repaid unless the home owner sells the property or no longer uses it as a primary residence within 36 months of purchase. Extending the waiver, according to Coble, provides fair treatment of home owners that purchase within the extended deadline.

And all of this, Coble says, encourages home ownership and sparks the housing market as well as the economy:

“As we have seen in the past, when the real estate market is thriving, so is the rest of our economy. Now we are experiencing the dire consequences of a slumping housing market. I believe our HOME Act of 2009 would convince many who are sitting on the fence right now to climb down and purchase a new home. Our entire economy would be the beneficiary of these new sales. Extending the tax credit to all home purchases could be just the boost our housing market needs.”

The Federal Housing Administration recently began allowing home buyers to “monetize” the federal home buyer tax credit toward closing costs on FHA-insured mortgages. The credit cannot count as the buyer’s minimum 3.5% down payment, but can be put toward other closing costs up front through a short-term loan the borrower repays after filing his or her income tax return.

The efforts to broaden the availability of federal dollars toward home purchases looks socially responsible on paper, especially as underwriting standards among lenders across the nation have tightened since the housing bubble fallout began.

From what I have noticed the tax credit seems to have helped buyers back in to the market and is a benefit to buying now rather than later.  I believe that a lot of the buyers right now are the ones who have been waiting for the market to bottom and are now convinced that it’s not going any lower.  Frankly, $8,000 is not enough money to really  make a big difference in a buyers decision to buy.  It is simply a plus that they get.  Many of my buyers like the idea and look forward to their tax return but they are buying now because the market looks like it is turning and they are ready to buy.

Are you ready to buy?  Visit www.SanDiegoForeclosureGuide.comto see all the houses for sale in San Diego.  Contact me and I will set-up a special program for you to receive listings that match your search criteria.  Many buyers follow listings but decide too late to go see them.  One of the benefits of being in touch with a Realtor is that they can tell you the status of listings.  All too often I contact buyers who have found a house they liked on the internet and have to tell them that it is no longer active, the seller has accepted an offer. 

Thanks

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

92129 – Penasquitos Sales Activity Report

Value of homes in Penasquitos

Here is a list of all the homes that sold in Rancho Penasquitos – 92129 in the last 30 days.  I study this report frequently to find the difference between asking and sold price and the market time.  This will give you a good idea about the current value of your homes.  Although you want be able to factor improvements, upgrades, location or extras; pool and spa… you will get a good ball park number.Valuing a home is only part of the equation of selling a home.  Marketing, staging, timing and many other things are involved in getting a home sold at top price.  If you are thinking about selling your home, contact me today for a FREE market evaluation and marketing plan.

Janet McCarthy

858-243-5719

jmccarthyhomes@gmail.com

 

All the homes that have sold in PQ for the last 30 days