Based on the current interest rates and trends you have been noticing, where do you see the market going this spring?

I think the market is going to be very strong this spring, if you look at the current interest rates for jumbo loans, that are still around that 4% and some banks even have interest rates under 4%, it makes it very attractive for home owners and home buyers to make that purchase they’ve been wanted to do.

As interest rates go up, the cost is going to be more expensive to obtain that same loan and I don’t know if you’re going to see home prices come down, therefore some buyers would be priced out of a certain price point if the didn’t potentially get in the market, not only this spring but sometime during 2016.

We are at a point where rates have no where to go but up, and quite frankly, it’s inevitable that that is whats going to happen. So you are someone who’s been on the fence about whether or not to get into the market, now would probably be the most ideal time to take advantage of how cheap money is to borrow, or course if you can qualify.

Visit www.freddiemac.com to see the most recent Economic & Housing Research, which address where they predict 30-year fixed mortgage rates will be headed.

Click Here to view and compare current mortgage rates.

Advertisements

How Do I Determine a List Price and What Goes Into It?

This is a great question … it’s a little bit of a science and quite frankly it can be hard to determine prices, especially in the luxury market, because each home is different and unique, whether it be in its orientation, the view, how it lays out or the finishes. So as a professional realtor, I look at a combination of factors when determining a listing price: I look at what has sold in the area, my knowledge of that particular area, buyer demand, the finishes and overall condition of the property, the view and most importantly talking with the home owner on how aggressively we want to list the house for sale, depending on their goals. Ideally it behooves the home owner to list the home appropriately, in order to obtain the highest value possible in the shortest amount of time, which is the ultimate goal for my clients.

To sum it up, typically some of the most important factors for determining list price are: looking at the comparable sales, knowing the neighborhood and knowing the current market (i.e., buyer demand and current inventory).

4 Reasons to Buy Before This Spring

  1. Home prices are continuing to rise
    • Each neighborhood will have a different fluctuations depending on the buyer demand.  But in general, the most recent Home Price Expectation Survey reports an average annual appreciation of 3.6% over the next 5 years. Meaning a house with a listing price at $500,000 today, is projected to be listed at $518,000 next year and $536,648 the year after! This is over a $36,000 increase in just two years. This rate of appreciation is great news for homeowners who are looking to increase their net worth, but scary news for those that are waiting.
  2. Mortgage rates are on the rise
  3. Save money in the long run
    • If you are renting a home while trying to decide if now is the time to buy, you end up spending more money in the long run. Check-out this infographic that breaks down how much money you save when you invest in real estate.
  4. Less competition from other buyers
    • Many people wait until Spring and Summer to begin their house hunt. By starting in the Winter you have a jump on other buyers, who could potentially put a competing bid on the house of your dreams.

If you still have reservations, give me a call; I would love to talk more with you about the current market trends in San Diego.


If I Was A Seller, How Would You Market My Home?

This is a question I am asked frequently and I love to answer it, because this is where my brokerage and team outshine the competitors.

My brokerage, Willis Allen, has quite a few exclusive affiliations here in San Diego, one being Luxury Portfolio which I believe is a phenomenal platform. It allows me to advertise your property, as long as it one million or more, to an international market. I can also couple this platform with another exclusive affiliation, Christie’s International. The synergy between both platforms allows me to capture a larger audience, ultimately giving the property worldwide exposure.

In today’s market, especially, the most important thing for sellers of properties one million or more, is getting the necessary exposure. Whether they are in Italy, Spain, France, or China, the buyer is out there, and that is where I will be able to market the property. In addition to the worldwide syndication, I can give you a detailed analytic report on the exposure of the property, which breaks down who’s looking at your property, by country, language or even what currency. Based on this data we can strategically market your home to whoever we determine is best suited.


When it comes to print advertising…

We have an awesome company magazine, Collection, which has a readership around 200,000 which is distributed every quarter. This is a great marketing tool, which allows me to advertise a house, regardless of price point, and gets great exposure.

Some of the regular print media Willis Allen Real Estate advertises in: Union Tribune, Riviera, Wall Street Journal, San Diego Business Journal, Luxe Magazine.

Here at Willis Allen, I have to ability to market your home anywhere and everywhere. Some of my favorites right now are Riviera, Locale and San Diego Magazine.

When it comes to online advertising…

In addition to print marketing of the home, our office website syndicates to over 600 websites, worldwide (Zillow, Trulia and Realtor.com to name a few). When roughly 90% of homebuyers start their search online, our affiliations ensure your home will be found.

 


 

Home Sales Report | October 2014

October’s edition of The Home Sales Report for La Jolla is out!

Highlight from this report: Cash sales are the national trend.

Over the past year cash sales have accounted for 49% of all sales in La Jolla. According to the National Association of Realtors, it’s not just wealthier buyers bringing all cash offers to the table; more and more first-time home buyers are taking private loans from family members to avoid the conventional loan route.

To read the full report, follow the link below:

La Jolla Home Sales Report – October 2014 Edition

Top 10 Patios in San Diego

San Diego is famous for it’s year-round perfect weather, we are “America’s Finest City” after all! When it comes to taking advantage of this day-to-day beauty, nothing is more satisfying that having your home open up to a perfect outdoor area.

These top 10 homes seamlessly transition from inside to out-doors, making the most of San Diego living.

For information on any of these listings, contact me by phone (858)518-1236 or email vincent@vincentcrudo.com

10. 5663 Abalone Place | La Jolla, Ca 92037

Abalone Pl 5 (hires)Large_Living_Room

Built: 1953

Price: $1,895,000

9. 3439 Ibis Street | San Diego, Ca 92103

Ibis2Ibis17

Built: 2013

Price: $1,078,000

8. 1421 Calle Altura | La Jolla, Ca 92037

Top10-1 Top10-2

Built: 1970

Price: $2,695,000

7. 6970 The Preserve Way | San Diego, Ca 92130

Top10-13Top10-14

Built: 2014

Price: $3,795,000

6. 7937 Old Man River | Rancho Santa Fe, Ca 92127

Top10-15Top10-16

Built: 2006

Price: $3,695,000

5. 524 Pacific Avenue | Solana Beach, Ca 92075

Top10-12Top10-11

Built: 2012

Price: $7,595,000

4. 6102 Camino De La Costa | La Jolla, Ca 92037

Top10-4Top10-3

Built: 2004

Price: $12,500,000

3. 3620 Dupont Street | San Diego, Ca 92106

Top10-17Top10-18

Built: 2014

Price: $3,195,000

2. 18511 Calle La Serra | Rancho Santa Fe, Ca 92091

Top10-6Top10-7

Built: 2009

Price: $3,295,000

1. 18010 Punta Del Norte | Rancho Santa Fe, Ca 92067

Top10-9Top10-10

Built: 2008

Price: $7,699,000

For the latest updates on these and other spectacular listings in the San Diego area, contact me or follow my Facebook page!

Phone (858)518-1236

Email vincent@vincentcrudo.com

How Do I keep My Clients Informed?

In my opinion there is nothing more important than keeping the lines of communication open during the process of buying and or selling.  It is a top priority to always make sure that my clients are informed on whatever situation is at hand and provide them with all the information needed to make a sound decision.

On the buyer’s side – there are a couple ways I can keep you in the know about the market. I’m constantly checking my “hot sheet” throughout the day, almost every hour, which instantly gives me updates about the market: what is new on the market, what has gone into escrow, what has sold; ultimately furthering my knowledge as to benefit my buyers.  If a new listing comes on the market, not only will I be notified, but you also receive an email from an automatic search I’ve set up for you based you your parameters. Once we find a property and make an offer, I always want to develop good communication with the listing agent so they would feel comfortable working with me and ultimately accept our offer.  Once we have an offer accepted there are strict time lines that the buyer has to follow as part of the purchase contract.  During the escrow period is the most important time to keep my clients informed as to what is next!

On the selling side – I feel that it is important to provide my clients with bi-weekly updates, (if not weekly), as to the showings and feedback data. Additionally, every 30 days I provide a detailed market analysis, informing you about the market conditions, any recent sales, a detailed breakdown of the analytics, and a complete report of all showing logs, feedback from other agents and prospective buyers.  In addition to maintaining open lines of communication via phone calls and emails, these updates are the best way I can keep you, as a seller, informed about the status of your property.

Example of Detailed Report Provided to Sellers Every 30 Days

Example of Detailed Report Provided to Sellers Every 30 Days

In summation, there are many moving parts that are happening during a transaction and there is nothing worse than keeping someone in the dark.  Therefore, keeping in touch and updating my clients on the process of selling or buying is a top priority of mine.