Once again, CNN Money published their “Top 100 Best Places to Live” for 2009. If your Encinitas homes for sale is in a place similar to the Top 10, you just might have a much better chance at selling, especially if you market those positive attributes. Here are just a few of the things these places have in common:

• Small towns: Whether a place is small or not is always relative. For instance, someone who lives in a town with less than 3,000 people would think Bryant, Arizona, with a population of almost 15,000 was a big place. However, the Top 100 list points the way; the population numbers range from 8,000 to 50,000. If your home is in a low population area, this could be a great selling point.

• Robust, needed industries: High-tech industries, energy services and health care are just a few sectors that haven’t been hit as hard by the recession. These industries will be needed for years to come, and the demand for trained workers is higher in areas with these industrial sectors than in others. If your home is located in an area with lower than average unemployment, brag about it!

• Low crime rates: For most, if not all of the top 100 places, crime is low, if not almost nonexistent. For instance, Papillion, New England has around 22,000 people. They also have less than one personal crime per 1,000 people. If you aren’t sure what the crime rate is around your home, check! Low crime rates are an excellent selling point; one that you could be missing out on.

• Education: Education has always been important to most people – a fact that is clear with the Top 100 list. The list averages 20 universities or professional schools within 30 miles, and over 71% of the population per place has had some college. Do you have great universities? Do you live in a highly educated community? It may not seem like a big deal to you, but it will to the buyer.

From population demographics to the number of recreational activities available, everything goes into making your Encinitas homes for sale attractive to buyers. Do the research and find out what makes your area special.

If you’re trying to find your home’s selling points, I can help. Call me at 760-809-2788 or email me at CoastCondo@earthlink.net for more information.

Coastcondo@earthlink.net

Pre-qualified Loans
Before shopping for Encinitas homes for sale, you want to look at lenders. Not all mortgage lenders are created equal. Especially now, with the rocky economic times, you have to be especially careful who you get your mortgage through.  When you find a lender you’re comfortable with, you have two choices: start shopping for houses or get pre-qualified for a loan.

Pre-qualification for a loan is based on the best estimate of the loan officer, not “set-in-stone,” verified facts. The officer believes, because of the information you tell them, that you have good credit and can financially afford a specific loan amount. For this reason, because it isn’t verified, pre-qualification doesn’t hold as much weight with buyers. As well, you could still end up wasting a lot of time looking at houses you can’t afford.

Pre-approved Loans
The second step in getting a mortgage loan is pre-approval. With pre-approval, the lender has received verification that, yes, you are credit worthy and yes, you can afford up to a specific loan amount.

Pre-approval not only gives the seller the idea that you’re a good prospect, but it also helps you out while looking for a home:

• You already know how much home you can afford.

• You already know that you’re qualified to buy any home you look at that falls within your verified loan amount.

• You have better negotiating power with the seller (who may be more willing to accept less than list price knowing that you are already pre-approved).

• The closing period can happen faster, narrowing the typical 30-day period to less than three weeks.

In short, when looking at Encinitas homes for sale, it’s better to be pre-approved, but you can’t get pre-approved for a mortgage without being pre-qualified.  So do yourself (and your new home) a favor and do both.

Need help selecting a mortgage lender?  I can help. Call me at 760-809-2788 or email me at CoastCondo@earthlink.net for more information.

Coastcondo@earthlink.net

Government-owned Fannie Mae may have come up with a solution.

Deed-in-Lieu
Some homeowners facing foreclosures in Encinitas homes for sale have more than foreclosure, loan modification or short sale options. Some qualify for a deed-in-lieu (DIL), where they sign away all their equity back to the lender and walk away “debt free” (except, possibly, for taxes). Unfortunately, a DIL leaves the homeowner without a home to live in, and the lender with a house to sell in an uncertain market.

Deed for Lease Program
Under Fannie Mae’s new Deed for Lease Program (D4L), those who go through the DIL process may be eligible to rent their home back from Fannie Mae at current market rental rates. This may not sound like a great deal, but many families have ended up on the street because of foreclosure. Those who qualify for the D4L Program will be able to remain in their homes for at least 12 months. To learn more, read the entire D4L Program eligibility list.  Here are a few of the qualifications:

• No prohibitive Homeowner’s Association rental limitations

• The cost of any required repairs is an acceptable amount, based on the value of the property

• The income the lender receives from the current rental market should be expected to cover any maintenance/management costs

• The current rental rates must be less than 31% of your gross income

• The home must be a primary residence

Whether the D4L Program will help or hinder the number of foreclosures in Encinitas homes for sale is still up in the air, but it does give homeowners other options – something they’ve been sorely lacking.

If you’re facing foreclosure and qualify for short sale, I’d love to help. Call me at 760-809-1788 or email me at CoastCondo@earthlink.net for more information.

Coastcondo@earthlink.net

Foreclosure Trends
It’s a wonderful thing to own any kind of real estate (although I’m partial to Encinitas real estate listings, of course). Unfortunately, many people have lost their homes due to foreclosure since the housing crisis started; there have been over 7.8 million since 2007. California, Florida, Arizona, Nevada, Illinois and Michigan have been topping the count for foreclosures, adding up to 62% of the nation’s foreclosures.

California’s numbers reached 349,435 foreclosures last month, and it was feared that those numbers might escalate. However, there’s some good news there. Even though homeowners are still teetering, lending institutions are caving in under government pressure to work with those homeowners. For that matter, they may even be working with the government to stem the deluge of foreclosures.

HousingPredictor.com conducted a survey of homeowners that shows we may have as many as 25 million foreclosures before everything is said and done, mainly due to homeowners who are tired of watching housing prices fall. Such a glut of the market could cause some serious repercussions for the economy. However, again, there are some positive points.

For instance, current mortgage interest rates are ranging from as low as 4% to 5.5%, cut almost in half from the “housing boom” years. While housing prices may be dropping, the fall is slowing down. As well, lower prices mean more affordable homes. While this may not be a good thing for homeowners, it’s an excellent thing for home buyers.

As prices drop and homes become more affordable, the glutted housing market of foreclosed and for sale homes is slowly shrinking. As the reserve market (the number of houses per capita that are for sale) shrinks, consumer confidence will build up (something we desperately need). Housing demand will rise, surplus will shrink, and prices will stabilize.

Of course, in the meantime, while you’re waiting for things to stabilize, hold on to your Encinitas real estate listings. Take advantages of the tax breaks available to upgrade your existing property, maybe get the renovations done you’ve always wanted. There are still opportunities in this market – you just have to find them!

If you’re a buyer looking for a great home, act now to find amazing bargains.  I can help. Call me at 760-809-1788 or email me at CoastCondo@earthlink.net for more information.

Coastcondo@earthlink.net

With curb appeal, you might think of cutting your lawn, trimming bushes and getting rid of weeds.  Have you considered that creating a beautiful landscape for your home can add resale value?  Here are some tips on how to do just that:

Planting Frenzy
A beautiful landscape adds increasing value over time. That doesn’t mean you go on a planting frenzy, however. As a landscaping do-it-yourselfer, you don’t want to buy a whole lot of plants and throw them in the ground. You need to purchase the type of plants that will give your home the best resale value.  The types of plants that add more resale value to Encinitas homes for sale are trees and long-living flowering shrubs. Others, such as perennials, add less resale value, and still others, like vegetable gardens that need to be replaced yearly, add the least amount of value to a home.

Steps to Take

By following these steps in order, you have a much better chance of getting the best resale value out of your landscaping work:

1.   Talk to the experts
Local nurseries, gardeners and professional landscapers can help you with what to plant, how to plant and where to find them.

2.    Check grading and drainage
Bad drainage can ruin a lot of landscaping work, as can a poorly graded lawn. Pay attention during a heavy rain and make sure there is no erosion in your planned area, and no standing water. Both conditions can make a mess of landscaping.

3.   Remove local plant pests
Local plant pests include such things as eucalyptus, scotch broom, pampas grass and certain types of ivy. These plants can quickly overgrow your garden, lowering your property value. If you have any plant pests, check online or with professionals to find out how to remove them.

4.   Design
As any good landscaper knows, always start out by drawing out a landscape design on graph paper. Pay attention to the spacing needed for each plant, as well as such things as when the flowers will bloom and what the colors will look like together.

5.    Prepare the soil
Not every yard has soil that’s perfect for planting. Make sure you have a good soil mix and make sure the plants you use match the PH of the soil.

6.    Start planting!

Encinitas homes for sale with beautiful landscapes have a much better chance of selling, and selling well. Turn your thumb green and get to work on your home’s curb appeal.

If you’re thinking of selling your home, with or without a beautiful landscape, I can help. Call me at 706-809-1788 or email me at CoastCondo@earthlink.net for more information.