Welcome to My September Enewsletter
It’s hard to believe that it’s September already, especially since we never really got around to having summer in San Diego. Our last two weeks of August have been hotter and sunnier, and now it seems to be cooler and sunnier. But it’s hard to complain about the weather here; it’s truly a beautiful place. Here’s the link to your September Calendar of Events to enjoy in our beautiful county!
Please be careful of all of the “doom and gloom” newspaper articles about real estate. The papers throughout the country seem to be focusing on everything negative in the current housing market. Be sure you always read the whole article, because often the main point is not in the headline. For instance, last week in the San Diego Union Tribune, the headline focused on housing values going down throughout the country while the bottom paragraph said that San Diego was one of the 4 cities in the country where values were going down the least!
My clients who are about to close on their house in Old Carlsbad just locked in a loan at 4.56%. This interest rate is typical right now. We have a big inventory here, sellers are ready to negotiate, and you should consider looking for a “great deal.” When you do look for a loan, here are some reasons why you should definitely shop around with 2-3 different lenders:
- To get the best interest rate possible: Over the life of a $200,000, 30-year fixed rate loan, a one-tenth of a point difference in interest rate could save or cost you thousands of dollars.
- To pay lower loan fees: Once your loan application is accepted, the lender will give you a good-faith estimate (GFE). Don’t be afraid to ask about fees you don’t understand or to negotiate.
- To avoid a prepayment penalty: Be clear on whether the terms of your loan include a penalty if you pay off your mortgage early.
- To find a lender you feel comfortable with: Choose a lender who is responsive to your questions and is willing to give you the details in writing.
- To find a lender who specializes in your situation: If you want an FHA or VA loan, or if you are worried about your credit, choose a lender who will work with those situations.
- To get the rate lock period you want: Once you’ve chosen a lender, get a written commitment, known as a “lock,” that puts in writing that the lender will make the loan to you at that specified interest rate. The length of the lock period may vary from 30-90 days. Negotiate the lock period that is right for you.
Meanwhile, in these supposed “doom and gloom” times, I have had my busiest two weeks of 2010:
- My clients in Carmel Valley went into escrow on a beautiful house, also in Carmel Valley, with a gorgeous backyard overlooking a canyon. It has a newly remodeled kitchen, windows to show off the view, and a wonderful layout. They will close very early in October, so...
- I have now listed their current home in Carmel Valley. It is a pristine property in Trilogy, with a totally remodeled custom kitchen with cherry cabinets and fabulous storage. It’s in impeccable condition and has the nicest backyard in the subdivision, with mature trees and beautiful landscaping, and located away from the road noise. Please contact me for more information!
- And finally, I have listed a spectacular designer beach cottage in Harbor Pointe in Carlsbad (within walking distance to the beach). If you’ve ever seen properties at Harbor Pointe, you must come and see this one because it’s different from all the rest. All room dividers and walls have been removed, and the space is totally open and light. The remodeling is so good that it was featured in the Summer, 2010 issue of Cottages and Bungalows.
Please be in touch to find out more about my new listings and if you have interest in my Cardiff twinhome which I’m re-listing at a reduced price. Have a good end-of-summer!
Marilyn