The spring home buying season is well underway and bidding wars are breaking out on San Diego’s streets. People trying to land a home while interest rates remain relatively low are up against limited choices and considerable competition. This is most evident in the western regions of the nation and San Diego is no exception.

A seller’s market is defined as a market which has more buyers than sellers resulting in higher prices due to an excess of demand vs. supply. In San Diego, the lack of current inventory is attributable to various reasons including homeowners who are underwater, meaning they owe more than the home loan balance.

Selling may still be unrealistic for even those who are above water due to down payments, real estate commissions, taxes and other fees associated with the sale of a home. Having at least 20 percent positive equity in a home is important for those who are selling to move to a home of equal or greater value.

I recently interviewed Curt Toyer, broker/owner of The Metropolitan Group in San Diego who offered this insight: “San Diego has had double digit price increases and huge sales increases over the past year. In fact, the largest price increases since 2007! Sales are up more than 9 percent from a year ago. There are several reasons for this, including what I think might be the most important, and that is consumer confidence. The stock market is going crazy, the Fed is keeping rates low and employment numbers are improving sending the signal to all of us that things are definitely looking up. Buyers have been sitting out the housing market for several years creating a demand that is now driving prices.

“Sellers have also been sitting out the market waiting for it to come back. Those that are now jumping in are finding that things are pretty rosy with so much demand and very little inventory. There is so much competition between buyers; some are removing their appraisal and loan contingencies to incentivize the seller to accept their offer. While I don’t recommend this except under unique circumstances, I understand how difficult it is for buyers to keep making offers and losing out.

“Some people are concerned that it’s too fast and we’re headed for another bubble. I don’t believe that personally and I think things will slow down once more sellers discover they can get a good price for their home and the time is right to list. The stronger the supply of inventory we have, the slower prices will increase.

“It helps that short sales and foreclosures are way down also, which was part of what was keeping prices down. Finally, unless lenders start acting crazy again by offering subprime and no documentation loans, no down payment loans, etc., I think we’ll be just fine.

“Remember, we’re still not back to the prices from 2006 and it’s going to take a while for that to happen.”

If now is your time for purchasing a home, patience is the key. Homebuyers may now have to compete with multiple buyers for a desirable home. Be prepared to offer above asking price in many circumstances.

If you are selling a home, take advantage of the current trend. Buyers often make full price cash offers and in many cases release contingencies early which could otherwise delay a closing.

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group @ 619.990.4631 or at ronmetro@cox.net. DRE License # 01865841.

Entrance to Azalea Park

City Heights is a diverse community of San Diego stretching from El Cajon Blvd. to the north and freeway 94 to the south. Previously known for neglect and urban blight, the district is presently in a state of revitalization with the infusion of new commercial developments, parks and street improvements

Atop a plateau and three miles east of San Diego bay is the secluded and canyon-laced neighborhood of City Heights known as Azalea Park.

Formerly known as Lexington Park, Azalea Park was originally a real estate sub-division. In the 1980s, the Lexington Park Neighborhood Association opted to take the name Azalea Park. This tight-knit neighborhood consists primarily of smaller homes with a scattering of light commercial and multi-family dwellings.

There are two conveniently located parks which make it ideal for young families with kids. Featured in Azalea Community Park is a water conservation garden displaying unique art and water conscious landscaping. In February of this year, Councilmember Marti Emerald presented a City Proclamation to the Azalea Park Neighborhood Association recognizing the water conservation garden along with their extended community efforts.

In 1981 the reform of Azalea Park began. Increased police presence and community watch programs began in an effort to clean up the streets and increase property values. Residents got together to walk the streets and parks at night in an effort to monitor illegal activities occurring within their neighborhood.

In July of 1993, with the entry of the first float in the San Diego Pride Parade, the vicinity was introduced to the gay community. With hand painted banners, residents and supporters of Azalea Park marched enthusiastically in an effort to attract the LGBT community to the up and coming neighborhood. It worked! CNN carried news of the effort to the nation, and by 2003, there were more than 100 gay households in Azalea Park.

Sporadically placed throughout the community are hand-carved wood banners representing the streets named after varying plants. Completed by artist Tom Benson, there are 38 featured pieces of art which are well worth a look.

Situated just north of the immediate neighborhood is the award winning City Heights Urban Village consisting of a community gymnasium, Mid-City Police Substation and a public library. Authentic ethnic restaurants and markets also line the main corridors offering taste treats for the most exotic of pallets.

Offering vast canyon views, easy access to downtown and Balboa Park, and community oriented residents, Azalea Park is still one of the most affordable communities within the City of San Diego, featuring properties ranging from $149,000 to $377,000 for a detached home.

Ron Monigold is a Certified Residential Real Estate Appraiser and a California Licensed Real Estate agent. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group at 619-990-4631 or at ronmetro@cox.net. DRE Licence #01865841.

Now that spring is upon us, so is the peak season for purchasing or rethinking a home. Many new home buyers’ fantasies of ownership become a reality after searching out the right sized dwelling. It is important to make the best use of your newly acquired or existing square footage.

Typically, homeowners decorate and furnish rooms within a home according to the room’s original intention. From formal living and dining rooms to breakfast nooks and smaller bedrooms, many people do not consider alternative uses for underutilized spaces; however, there is a cure for the issue of a wasted living area: rethinking your space!

The fact that a room is labeled a breakfast nook or library does not mean that they must be utilized as such. The possibilities for alternative uses are endless, and with some creativity and re-arranging, it can be a simple process to maximize your square footage. Surveys indicate that in many homes 80 percent of your time is spent in 20 percent of the available living area.

Here are a few simple ideas for repurposing the underutilized spaces within your home:

Turn a smaller bedroom into a closet or additional bathroom. If you have a bedroom that is barely useable, consider converting it into an expansive closet. In many cases, this alteration can be accomplished by opening up a wall between the smaller bedroom and the master bedroom. By adding a set of inexpensive closet doors, this space has the potential to become a coveted walk-in closet. If a larger budget is involved, consider converting the smaller space into a bathroom, which may increase the utility and overall appeal of the home.

From formal dining room to library. Anyone who is an avid reader knows that books can be excessively space consuming and often create clutter. Consider converting a rarely utilized formal living or dining room into an organized library. Line the walls with bookshelves purchased from a hardware store or design custom built-ins, throw in some well-lit seating and bam, instant library!

No need for a breakfast nook? There is something romantic about the notion of a breakfast nook. However, in many households a nook is overlooked and often underutilized. Instead, this area becomes a bill paying area or a space to organize the family calendar. Sound familiar?

If you are fortunate enough to have a nook as well as an eat-in kitchen island or other casual dining area, options are available. Think about what you may already be using this space for and optimize it by bringing in organization and storage solutions to cut clutter. Consider a bulletin board and a small desk allowing you to stash away your laptop and other items needed to handle family business.

Additionally, installing inexpensive doors may be an option to convert an unused nook into a desirable pantry or walk-in utility closet.

Don’t forget the stairs. Even if every room in your home is already spoken for, there may still be underutilized spaces. A built-in storage cabinet or desk can be placed along a wide hallway in order to capture its full potential. Space under the stairs is often overlooked and can be lined with bookshelves or even converted into a handy wine cellar!

Be imaginative and start with the “art of re.” Rediscover, re-arrange, reclaim and re-imagine the possibilities that make your space your home.

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group at 619-990-4631 or at ronmetro@cox.net. DRE License # 01865841.

Kensington is an upscale enclave situated on the southeast rim of Mission Valley. Comprised of California Spanish-style homes by real estate developers in 1926, Kensington is a picturesque and peaceful pocket amid the hubbub of the inner city.

Sitting high on a dry mesa, this desirable neighborhood is surrounded by chaparral-wooded canyons, overlooking a bustling valley and cooled by breezes blowing in from the Pacific Ocean to the west. A charming commercial district is situated along Adams Avenue consisting of restaurants, coffee shops, a small park and a public library.

The neighborhood we think of today is actually a collection of five original subdivisions: Kensington Park, Kensington Park Annex, Kensington Park Extension, Kensington Talmadge and Kensington Heights. Kensington Heights was the last of the parcels to be developed and consisted of 115 acres.

The Kensington location was first considered for development in 1909 as a potential site to construct luxury homes for retired executives of the Santa Fe Railway Company. The land was part of the ex-mission ranch owned by Santiago Arguello. The property changed hands through the years and eventually a parcel of 157 acres became the property of the Kensington Park Land Company in 1910 who divided and sold tracts of land to developers. The tracts were then subdivided into lots and sold to buyers wishing to build their homes however they pleased.

The Davis Baker Company of Pasadena, Calif. who originally planned to build homes prior to selling the vacant lots had a vision of creating a conforming neighborhood consisting of California Spanish-style homes. Requiring that homes built by others conform to certain aesthetic standards, the community was, and is today set apart from the surrounding developments.

With winding streets and sidewalks, exceptional architectural details and exceptional landscaping plans, Kensington was destined to become one of San Diego’s most desirable communities.

In the early 1900s Kensington became one of the many San Diego neighborhoods connected by the Class 1 streetcars and an extensive San Diego public transit system that was spurred by the Panama-California Exposition of 1915 and constructed by John D. Spreckels. These streetcars became a fixture of the neighborhood until their retirement in 1939. Some of the streetcars are slated for re-instatement for the upcoming centennial celebration of the Exposition.

Located in the heart of the community is the neighborhood Kensington neon sign which hangs over Adams Avenue within the business district. The sign was erected in 1953 and paid for by the citizens of the community. The sign was designated a historical landmark April 24, 2008 by the Historical Resources Board.

Kensington is also known for its sense of community. Highlights include an annual Memorial Day parade as well as a Christmas lighting contest open to all wishing to decorate the exterior of their homes. There is also a garden concert series featuring professional musicians and hosted by varying homeowners with food provided by local restaurants. Finally, there is an active neighborhood association known as Ken-Tal which hosts monthly dinner meetings.

This community is truly a must-see segment of beautiful San Diego County and worthy of an afternoon driving tour.

Until next time … don’t dream it, live it!

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group @ 619.990.4631 or at ronmetro@cox.net. DRE License # 01865841.

Many people have misconceptions when it comes to working with real estate agents. When venturing into a real estate transaction and selecting an agent, it all comes down to building relationships.

As with differing transactions, agents are often diverse and may excel in varying aspects of the real estate process. From strong negotiating skills to excelling in advanced technology, realtors are professionals with a common goal, which is to guide you through the process with ease and professionalism.

Here are a few common myths that people harbor about real estate agents:

Myth No. 1: The “local neighborhood” agent is always best.

In today’s world of advanced technology, local marketing has been usurped by the prevalence of ubiquitous Web sites. If selling a home, your agent should have the ability to market to a wide audience. Increasing the buyer pool may conversely diminish the overall market time. Interview agents from varying areas and discuss their methods of marketing, their experience and areas of expertise.

Myth No. 2: I should hire the agent who quotes the highest list price for my home.

Your home may be worth every penny that is quoted, however this should not be the primary criterion in which you hire an agent to represent you. Market knowledge, experience, and establishing a connection will most likely provide you with better results. When selling a home, a knowledgeable realtor will research the market and examine comparable sales, providing a range of realistic values. Keep in mind that this value is an estimate.

Myth No. 3: Working with numerous real estate agents will increase my odds.

Establishing a good working relationship with one realtor exclusively may actually increase your chances of your real estate expectations being met, enabling the agent to better understand your needs. Agents are typically playing with the same deck of cards when it comes to inventory. Unless you have signed a buyer-broker agreement with an agent, you are not required to utilize one agent exclusively. However, working with a single agent is the best way to establish the trust and respect that is so important.

Myth No. 4: Realtors don’t do anything I can’t do on my own.

While it is possible to buy or sell a home on your own, the truth is that the business of real estate can be complicated as well as time consuming. With real estate laws and regulations constantly changing, realtors are trained and are required to complete continuing education hours in order to be well-versed in a field that is constantly shifting.

Agents have far more knowledge regarding market trends, contracts, and the overall process and are in place to provide direction and protection. Home inspections and surveys can be done on your own, as well as negotiating a deal to buy or sell a home. However, realtors are skilled to do this and offer experience-based expertise. As a result utilizing a realtor may save you time and money and make your life less complicated throughout the process.

Myth No. 5: Nationally known offices offer superior service than smaller boutique offices.

Many people believe that selecting a larger nationally recognized office will ensure a great service. There may be some legitimacy to this; however, the smaller offices may offer a heightened level of service and agent accessibility. In general, finding a successful agent isn’t all in a company name, it is the professionalism, service and experience the agent has to offer.

Until next time … capture your dream!

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group @ 619-990-4631 or at ronmetro@cox.net. DRE License No. 01865841.

North Park sign at dusk near the intersection of 30th Street and University Avenue

North Park is a shifting neighborhood of San Diego with a rich and interesting history. From its conception in 1893 to the current process of revitalization, this culturally diverse segment of our great city continues to progress while maintaining its remarkable architectural history.

In the summer of 1893, merchant Joseph Nash, sold 40 acres of land to James Monroe Hartley who wished to develop a lemon grove. The complex process of preparing the earth for planting began; however adequate irrigation was not readily available. As such, water was hauled from downtown San Diego via a wagon trail, now known as Pershing Avenue.

With the continuous growth of San Diego, development eventually caught up with the original Hartley grove and the neighborhood boundaries were constricted from what they are today. James Hartley deemed his area “Hartley’s North Park.” Years later the name stuck as the City of San Diego referred to the new suburb as “North Park.”

92104 is a neighborhood comprised of mixed architectural styles from various eras. One of the most notable areas of North Park is Morley Field, named for its proximity to Balboa Park’s Morley Field Sports Complex. Many homes along 28th and Pershing Streets are lined with turn of the century Craftsman bungalows and California bungalows, many designed by renowned designer and builder David Owen Dryden.

Later in the 1910s, North Park became one of the many San Diego neighborhoods connected by the Class 1 streetcars and an extensive San Diego public transit system spurred by the Panama-California Exposition of 1915 and built by John D. Spreckels.

These street cars became a fixture of this neighborhood until their retirement in 1939. Based on the upcoming centennial celebration of the 1915 Exposition, plans are currently underway to restore streetcar service from downtown San Diego up Park Blvd. to Balboa Park by 2015. Once running on their original rail, the streetcars are eligible for state and national historic designation.

With an influx of new art galleries, coffee shops, boutiques and foodie-approved eateries, North Park is an urban village proving to be rich in San Diego history while moving forward with innovative and exciting renovations.

North Park is home to the Ray Street Arts District. Ray at Night is a gallery walk held the second Saturday of every month.

Celebrating good cheer every December, North Park holds its annual North Park Lions Club Holiday Parade, formerly known as the North Park Toyland Parade.

Finally, the North Park Farmers’ Market is held every Thursday from 3-7 p.m. Located on North Park Way between 32nd Street and Herman Avenue, this is a great place to meet your neighbors, listen to live music and sample local taste treats.

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group at 619-990-4631 or at ronmetro@cox.net. DRE License # 01865841.

In today’s hottest housing markets, springing for a kitchen or bathroom remodel is a surefire way to score a return on your investment, often returning 100 percent of the cost. According to a recent study, San Diego, Chicago, Atlanta and San Francisco are just a few of the cities that offer triple-digit returns on a bathroom remodel. Minor kitchen remodels, with an average cost of $15,000 also provided returns of 100 percent or greater in many of these markets.

Kitchens and bathrooms are areas in a home where money spent on remodeling can be the most obvious and appreciated, as we tend to spend much of our time in these rooms.

The first step in a remodeling project is to establish a realistic budget and actively manage it. Preparing for a remodeling project is similar to buying a new car; you may know the make and model of the one you want, however adding options may increase the price. Save money and go through the design process first, choosing everything from paint and fixtures to appliances. This will help define your budget and prevent hasty and costly decisions later in the process. There are ways to stretch the remodeling budget and still end up with stylish results. Be creative!

The number one way to decrease the cost of your remodeling project is through product choices. Shop around to determine whether you can achieve a similar look with a less expensive product. Remember to keep the value of your home in mind while keeping cost in perspective. Installing a $10,000 top of the line range in a $150,000 home may not make sense.

There are often multiple solutions available to accomplish a design objective. If all the room really needs is a facelift, make the most of changes with paint or wallpaper as opposed to structural changes.

Be cautious of decorating trends that may be considered outdated in a few years as this could impact the future marketability of the home. Think traditional: wood cabinetry, commercial look appliances, natural wood or stone flooring and neutral stone countertops typically stand the test of time and appeal to the majority of homeowners.

Sometimes remodeling a kitchen or a bathroom may become more involved. The reconfiguration of existing plumbing, electrical wiring or existing walls may require the services of a contractor, and selecting the right one may prove to be the most important step in the process.

Make sure the contractor is licensed and is familiar with the building codes in your area.

Carefully review the contract together, as a well-written contract can prevent costly mistakes and is a critical step in maintaining the budget. A competent contractor will ensure that the project complies with current building codes and that all required permits are in place.

When remodeling, always consider the best option in terms of investment return. For example, if a home offers three or four bedrooms and only one bathroom, your money might be better spent on the addition of a second bathroom.

A National Association of Realtors survey found that adding a bathroom may increase the sale price of a home by 8.7 percent, more than twice the rate of adding a bedroom.

Finally, ensure that before you begin the remodeling process other areas of the home are appropriately maintained.

If your objective is to sell the home, a buyer knowing that deferred maintenance is evident, may consider this to be a much bigger issue than living with a functional but dated kitchen or bathroom.

Ron Monigold is a Licensed Real Estate agent and a Certified Real Estate Appraiser. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group @ 619-990-4631 or at ronmetro@cox.net. DRE License # 01865841.

Listing your home for sale can prove to be an exciting and challenging journey. In my experience as a realtor, I have discovered one fundamental truth; there will always be “house haters” and you can never fully escape them.

Whether an urban condo or a rural cabin nestled in the mountains, aesthetics, locations and styles are a matter of personal taste and can be subject to criticism from potential buyers. As a home seller, your job is not to try to make your home be all things to all people, but to present a product that will be well-received and appealing to the majority of your intended market. Here are a few tips you can use to minimize negativity about your home and possibly decrease the time it takes to sell it.

Overpricing. This can fall into varying categories, from somewhat overpriced for the neighborhood based on similar sales to “you have got to be kidding!” The issues with overpricing can be numerous and may result in a buyer’s lack of interest.

The buyer’s agent may investigate recent sales of homes in the neighborhood, realize the home is overpriced and opt for a “wait for a price reduction” attitude. This may increase the home’s time on the market and the listing may become stale and overlooked by the buyer which could result in lower offers down the road.

Odors. Unpleasant odors can be at the top of a house hater list as odors can reverse any pleasing visual experience the buyer may have had. Remnants of cigarette smoke and odors from pet accidents are common complaints which may result in a lack of interest from buyers. When identifying odors, determine the origin and give consideration to steam cleaning the carpet, cleaning the drapes, or even applying a fresh coat of paint to help resolve the problem.

Dirt and clutter. Also ranking high on the house hater list is a home that is messy, dirty or cluttered with personal belongings. Unable to see the big picture, some buyers may become distracted when viewing a home that is in a state of disarray.

Excessive clutter may also prevent potential buyers from gaining access to closets or other storage areas of the home.

Remember not to limit the attention of clutter to the interior of the home. The exterior of the home should also be maintained in order to maximize curb appeal.

Malfunctions. Take some time to ensure that not only the cosmetic components of the home are in order but that everything is operable. Ensure that window treatments operate properly; light switches function and appliances are working. These are just a few of the items to consider. Buyers may also consider items such as leaky faucets, inoperable sprinkler systems or broken windows to be deferred maintenance which may result in a lower offer. Generally, these are inexpensive repairs to complete and demonstrate that the home is well maintained and cared for.

Accessibility. Make sure the home is easily accessible to agents and potential buyers for showings. Difficulty in viewing a home can easily deter a buyer, resulting in a loss of interest and moving on to the next prospect.

But remember, just because the residence is for sale doesn’t mean that life within the home ceases, or even slows down. Life happens! The key is to monitor the tidiness of the home and rely on a swift and easy clean-up process as needed which may just help keep the house haters at bay!

Ron Monigold is a Certified Residential Real Estate Appraiser and a California Licensed Real Estate agent. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group @ 619.990.4631 or at ronmetro@cox.net. DRE licence #01865841.

I am always interested in the differences between the various San Diego neighborhoods and where they are positioned in the ever-changing phases of the neighborhood life cycle. From brand new communities with freshly planted boulevards to communities that display signs of neglect and urban blight, every neighborhood is represented in the cycle of change.

A neighborhood life cycle includes four basic phases: growth, maturity, decline and revitalization. A neighborhood can be defined as a geographically localized community within a larger city and is often a social community with considerable face-to-face interaction among its members.

The growth of a neighborhood typically begins with the construction of residential dwellings along with a wide range of conveniently located support facilities.

A new neighborhood offers exciting possibilities for a homeowner: moving into a new home, interesting neighbors, newer shopping centers, restaurants and schools. As a neighborhood develops and grows, prices of residential properties typically follow suit. This phase typically ends when there is no longer any vacant land available to develop.

The maturity phase occurs when the neighborhood reaches the point of stability and begins to face competition from similar or newer neighborhoods. The pace of this phase is not always consistent and can vary based on saturation levels and market acceptance. Kensington and Mission Hills are prime examples of mature neighborhoods.

When neighborhoods begin the descent into decline, property values may begin to fall, as does the appeal and overall marketability for both residential and commercial use properties. The physical aging and deterioration of the structures as well as the aging of the population often contribute to the overall decline. Outdated architectural styles also contribute to make these neighborhoods less attractive.

Other changes include the intrusion of a business or industrial area into the neighborhood, or a change in zoning that allows multi-family use properties to be built or converted. Typically, fewer owner-occupied homes in a residential neighborhood can result in neglect and a lack in pride of ownership.

Now a critical point is reached. The neighborhood begins the process of either revitalization, or it dies as properties are literally vacated and begin decaying. If an older neighborhood is located near favored schools, transportation corridors, downtown, entertainment, cultural or employment centers, it has a stronger potential for revitalization. What may have once been a neighborhood in decline becomes a desirable and sought after community that may increase in popularity as economic and social conditions change.

The communities of North Park and Golden Hill are good examples of the renaissance of a previously declining neighborhood.

Be aware of the neighborhood trends within the communities that you are considering. Talk with friends who live in an area you are contemplating, or perhaps take a driving tour of the community in order to ensure that your expectations of the neighborhood will be met.

Finally, being aware of the shifting trends within a community that could adversely impact the neighborhood and may affect the value and long term marketability of your property is always a wise decision.

Ron Monigold is a certified Real Estate Appraiser and a Licensed Real Estate agent. He is a member of the National, California, and San Diego Association of Realtors. You can reach Ron at The Metropolitan Group at 619-990-4631 or at ronmetro@cox.net. DRE Licence # 01865841.

In previous articles, I have written a lot about buying a home or an investment property. Well, if you are fortunate enough to have a home and/or an investment property, or when you do have one in the future, you need to think about the mortgage and its long term effects.

The most common loan today is a 30-year fixed rate mortgage. However, many of us do not think about the long term effects of it, but it is important to do so. The ultimate goal when you are planning for your retirement and when you are looking at a healthy financial portfolio and future, is to pay off your mortgage or mortgages. Below are some ideas for you to consider to achieve this goal and to help you plan for your future.

Get a shorter term loan – When you think of a home mortgage, most people think about a 30-year fixed rate home loan. However, there are shorter term loans that are available to you, like a 15-year mortgage. The big advantage of having a shorter term loan is that you pay off your mortgage faster. The disadvantage is that you will typically have a higher mortgage payment.

Pay down your loan principal – You can also pay more than the minimum amount required each month on your mortgage to pay down the principal faster. For example, if your mortgage payment is $2,000 a month and you pay $2,200 a month, the additional $200 a month will go directly to pay down the principal amount and will not go to pay for interest.

Start a savings account – Another way to pay off your mortgage is to simply start a separate savings account. You can start with an initial small deposit and then slowly build it up. You can think of it as a bill that you have each month and pay an amount that you can afford. You will be amazed how quickly the account can grow through time.

Refinance – Today’s mortgage interest rates are so low, you owe it to yourself to look into refinancing. I just had some clients refinance their home here in San Diego and they got a new 30-year home loan at a 3.38 percent fixed rate, which is an amazingly good mortgage interest rate. It would benefit you greatly if you can refinance at a lesser interest rate than what you currently have now, which means your monthly payment will be less.

As a general rule, the key to financial health is to not pull more money out when you refinance. By doing this you will increase the balance of your loan and it will be harder and harder to ever pay off your mortgage.

It is fascinating when you take the time to analyze a typical home mortgage. If you look at a 30-year fixed rate mortgage that is paid to the full term of the loan, you can easily pay back to the lender two to three times the original amount of money that you borrowed.

No matter what your age is, you should plan for your future and for your retirement. A big part of this planning is to look at your mortgage options and try to pay off your mortgage or mortgages as smartly and quickly as possible.

Until we meet again, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

Real Estate

BY TRENT ST. LOUIS

The real estate market has historically always gone in cycles. This means that housing prices go up and they go down. When prices are up, it is considered a seller’s market and when prices are down, it is a buyer’s market. There are of course other variables that play a part, like mortgage interest rates; but housing prices are the most important factor that defines the market.

Right now in San Diego we are still in a buyer’s market, in that the prices are low. Although there has been some modest prices increase in the last year, housing prices in San Diego are still significantly down from six years ago. In addition, mortgage interest rates are still historically low, which allows buyers to borrow money at very affordable rates. Low mortgage interest rates can also allow buyers, who may not have been able to qualify for a home mortgage previously, the opportunity to qualify for a home loan at today’s low interest rates.

Supply and demand is another factor that affects the real estate market. Right now in San Diego, there is a low inventory of homes on the market and a high demand for them. We have lots of buyers and not a lot of homes for sale. So there is low supply and a high demand, which is slowly contributing to the rise in housing prices.

In fact, it is very common for a property listing to have multiple offers on it. If a house is listed at the proper price for today’s market, it will typically receive offers within the first week or two and be swept up by one of the many buyers that are out there searching for a home. There have also been less foreclosures, which are bank owned properties, and short sales in the last several months, which has added to the lower number of properties that are on the market.

Location is another factor in the real estate market. For example, in the metropolitan area, which is basically all the communities surrounding Balboa Park, like Hillcrest, Mission Hills, University Heights, Kensington, North Park, Bankers Hill, South Park, Adams North and Normal Heights, the market has been extremely active. But all other areas from the South Bay to North County have had the same trend in the market with regard to lower inventory and a higher demand with a lot of activity.

In general people think of a buyer’s real estate market as being slow and depressed, which in many cities throughout the nation is the case. But in San Diego, we are unique with a very active buyer’s market. The buyer’s market for us here just means that prices are still down and mortgage interest rates are still super low, making it a wonderful time for buyers to purchase a home or investment property.

The current buyer’s market affects all types of real estate. Whether it is a condo, a single home, an apartment building or a commercial property, the prices are significantly down from six years ago. No matter what type of property you are considering buying, now is an amazing time to purchase a property while home prices and mortgage interest rates are low. So if you are a home buyer or a real estate investor you should take advantage of the current window of opportunity to purchase while we are still in a buyer’s market.

Until we meet again, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

To invest in real estate, you need money for a down payment and for the actual purchase of the property. There are different ways to get the money you need for investing and buying property. This article is intended to share some ideas of how you can get the money you need to buy property.

Although most people do not have the actual liquid cash to buy property, cash is of course one way to invest in property. So if you are fortunate enough to be in this situation, you can simply buy property with cash. This is the simplest, fastest and most cost effective way for a buyer to purchase real estate. The biggest benefit being, you do not have to use a lender, which saves a lot of time, money and energy.

The more typical way you can invest in property, is to save for a down payment and get a loan from a financial institution like a bank or a credit union. Today, the most popular type of loan with the lowest down payment is the FHA loan, which allows a qualified buyer to put as little as 3.5 percent as a down payment. There are many other types of loans that are available, which you can consider when you speak to a loan officer and get prequalified.

One possible way to get money for a down payment to buy property is to “pull” money out of a property that you currently own. This is often referred to as leveraging. You always want to be careful to never overextend yourself financially. But if you are fortunate enough to have good equity in a property or properties, you can consider using your equity and have it work for you. And today with the historically low mortgage interest rates, it is in a buyer’s best interest to take advantage of these amazingly low rates while they are available.

You can also syndicate, which is simply getting two or more people to invest together in property. The concept here is to build greater capital and buying power to buy a larger property than you could by yourself. There are advantages and disadvantages to syndicating and if you ever pursue this method of investing, make sure you have a written agreement with the individuals you are investing with.

It is not the first choice in lending, but there are also loans that are available for people who do not qualify with traditional lenders. These loans are referred to as hard money loans and are offered at a higher cost and interest rate to buyers who would not otherwise qualify.

These loans allow buyers to still buy a property even though they may have had a foreclosure, bankruptcy or just general bad credit. If you fall into this category and you wish to buy a house, it is still possible with this type of loan. If you get a hard money loan, you can always refinance it at a later date when your credit score has improved and you are eligible for regular financing.

Remember that real estate has always been one of the best investments in the world throughout history. So do not be afraid to buy property. Particularly now that we are still in a buyer’s real estate market with significantly lower housing prices from five to six years ago and that mortgage interest rates are at an all-time low.

Until we meet again, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

Everybody loves to get away and enjoy all of the things that a wonderful vacation has to offer. However, not everyone has the time and money to vacation as often as they would like. So I have the perfect solution for vacation lovers that have limited time and money. You can have your vacation destination be right at home.

Typically, people want to relax and have fun when they go on vacation. Well, you can create an amazing and relaxing getaway right at home. It can start the minute you get off work and can be a mini vacation that lasts for one night, an entire weekend or it can continue for an undetermined amount of time. Below are just a few ideas to help you on your way.

The first step is to designate a time for your at-home getaway and put it on the calendar. Then you can begin to plan your rest, relaxation and fun. The minute you get home, kick your shoes off, let down your hair and create your own little happy hour by making a special drink and some appetizers for you and another special person or friends.

You may have a drink that you already love and want to make or you can try something new and exotic. You can go online and look for some different drinks, like the Ricky Ricardo Mojito, which is a rum-based drink that is very tasty and seems to always put a smile on people’s faces. If you prefer a nonalcoholic beverage, there are many wonderful and fun drinks that are alcohol free.

Next you can make a wonderful dinner with your favorite foods. You can create a relaxing atmosphere by dimming the lights, setting the dining table so it looks like one of those pictures in the Better Homes and Gardens magazine. You can also have some fresh flowers on the table and some music playing in the background. If you do not want to cook, you can pick something up on your way home from one of your favorite restaurants or have something delivered to the house.

After dinner, you may even want to run a hot bubble bath for yourself. This may sound corny, but a hot bubble bath can be amazingly relaxing and incredibly fun. Of course, I recommend turning off the lights, lighting candles and playing some soft music as you soak in the hot and bubbly water. You may even want to light some good incense to fill the air with a wonderful aroma.

Another way to treat yourself is to consider exchanging massages with your partner. This is a wonderful way to unwind and relax after a long day or an even longer week at work.

Movies are another way to continue your fun at home. It is always fun to see one of the new releases or you can pick one of the old classics. Do not forget to pop some popcorn or have some other treats to munch on. When you eventually crawl into bed, I recommend lightly dabbing the pillow cases with a soft fragrance that you enjoy. It is a simple but a wonderful touch to stimulate the senses.

It is easy to forget that we live in a city that is a major vacation destination for people from all over the world. So keep in mind that you have many wonderful attractions to go to and amazing places to see in San Diego. So take advantage of them and go treat yourself. We are surrounded by beautiful beaches, parks, amazing restaurants, live theater and an outdoor lifestyle that offers unlimited activities for all ages. To get more ideas about things to do in San Diego, go to 101thingstodosw.com

There are so many ways you can create a vacation destination right at home. Above are just a few suggestions of things you can do at home to create a setting of rest, relaxation and fun, just as if you are on vacation. Just use your imagination to create an amazing vacation at home.

Until we meet again, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643

It continues to be a buyer’s real estate market in San Diego and a great time to buy property. Whether you are a first time home buyer or an experienced investor, housing prices are still significantly down from five years ago and mortgage interest rates are still at an all-time low. Historically, real estate has always been one of the best investments – so be smart and take advantage of this current window of opportunity.

Below are some recommended chronological steps that you can take to invest in property.

The first step is to consider buying a home for yourself, if you do not already own one. You can take advantage of the current buyer’s market and the other benefits that go with homeownership, like the tax break on your mortgage interest.

Only buy what you can afford and what you feel comfortable with. A good mortgage broker or bank representative can pre-qualify you for a home purchase and help you determine what you can comfortably afford.

After you have a home of your own, the second step for you is to consider buying an investment property. It does not matter whether it is a condo, single detached home or a multi-unit property. You just want to purchase something that works within your budget. Remember to never over extend yourself financially.

A healthy financial portfolio should always be diversified and include at least a couple of real estate investments. If time and money permit, it is recommended to continue to purchase additional real estate to secure your financial future.

One of the most important and simple concepts in real estate is to buy property when it is a buyer’s market and to sell property when it is a seller’s market. Since we are currently still in a buyer’s market, now is the time to buy.

There has been a trend this year with the number of home sales and prices increasing. So if you are in a position to buy a home or an investment property, you should take advantage of buying something now.

Be smart with your money. There is an old and very wise saying: “It is not how much you earn in life, but rather, what you do with what you earn.” I cannot emphasize enough how much truth there is to this saying.

Through the years, I have known many people who have had “regular” jobs like janitors, waiters and housekeepers and they managed to buy and ultimately payoff their properties. On the flip side of the coin, I have known people who have worked throughout their careers and have made a lot more money than the janitors, waiters and housekeepers and yet they do not own their home or have any investment properties.

As you plan for retirement, it is recommended that you ultimately pay off your mortgages. This will allow a place for you to live “free and clear of any mortgage debt” and if you have an income property, you will have income from that investment.

So, in this buyer’s market be smart with your money and invest in property.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

The holidays are upon us and no matter who you are or what your background is, there is no place like home for the holidays. Whether you live in an apartment, a condo or a detached house, it is the place you call home and it should be a special place where you feel safe and comfortable. So take advantage of the holiday season and get your home ready for it.

It is so easy to get caught up in the fast pace of life and not make time to spend with family and friends. The holidays are the perfect time to spend time with all your loved ones and to also remove yourself from the daily grind of work and other obligations.

I am very guilty of always focusing on work, other tasks and life events and not making time for myself, my family and friends. So this is a reminder to enjoy this special time of year and treat yourself to some down time.

Your home is that special place where you can gather with family and friends. It is where you “nest” and make memories. So prepare your home and make plans with the special people in your life to celebrate this time of year.

In addition to getting together with just family, you may want to think of some special people in your life who you may not have seen for a while and include them in a holiday dinner or an event. There are some very special friends who I love very much and never see. So this is a great time to connect with them.

One of my favorite holidays is Thanksgiving because it is a designated time to remind ourselves of all the things that we are thankful for. It is a time to remove oneself from the fast-paced world and to rejuvenate.

Of course, it is always great to eat the traditional dinner with all the amazing abundance of food and special treats. I, of course, always overeat at Thanksgiving, but I guess that is just part of the tradition. One of the things that make Thanksgiving so special is that it is spent in the comfort of your home or in the home of one of your loved ones, which in itself is a loving factor.

Another special holiday for me is New Year’s because it symbolizes a time for a fresh start. This is a great time to do your New Year’s resolutions, which is a wonderful way to set goals and make new plans for the future.

When President Obama was re-elected he made the statement that we all need to set goals and work hard to achieve them. This is a concept that he has spoken of repeatedly and it is something that will benefit each and every person who adopts it.

We can all do almost anything in life if we put our minds to it and New Year’s is a great time to set these goals. New Year’s is also a time when the world seems to slow down. It is a time when typically your family and friends get together at your home or one of their homes.

So take the time to make your home special for the holidays and spend time with the ones you love, and you will make some special memories that will last a lifetime.

Until we meet again, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

PHOTOS.COM

Many of us dream of having that special getaway to retreat to on the weekends, holidays and anytime we just want to escape from the daily grind. Whether it is a mountain cabin, a casita on a lake or country cottage, we all have a need to go somewhere to rejuvenate our mind, body and spirit. If you plan to actually buy a getaway home outside the city, there are several things that you should take into consideration.

By living in the city, we enjoy many services that may or may not be available in country or mountain communities. City living typically has public services and utilities like water, sewage, natural gas, electricity and trash pickup. But when you are living out of the city, not all of these public utilities and services are available.

A city sewage system is a common service that is not always available in many outlying communities. It is not uncommon for homes in the country and mountains to have their own septic system. This is an onsite self-managed mini sewer system that each homeowner is responsible for. So if you are buying a home outside the city, it is important to know if the home you are buying is connected to a city sewer system or has its own septic tank. If there is a septic tank on the property, you will be responsible for it and should have it inspected and certified before the close of your escrow.

Water is another service that may or may not be available outside of the city. There are still properties that have their own water wells supplying the home with its water needs. This is less common today although, believe it or not, there are actually homes that have them.

Natural gas also may or may not be available in communities outside the city. Within the city we enjoy the efficiency and affordability of natural gas for cooking, heating our homes and many other niceties. But this is typically not the case elsewhere, where usually a large propane gas tank is installed on the property to supply the home with its gas needs. There are natural gas companies that service homes that have their own propane tanks. A truck from the gas company will actually come to the house and fill the tank.

Even trash pickup can be very different in country communities. Within the city, we are used to a trash pickup service that is coordinated throughout the city. Some areas have private trash service, for which homeowners pay the vendor directly. There are even some remote areas where there is no private or public trash service, so homeowners must take their own trash to a public or city dump. Recycling programs are not available in most areas outside the city limits.

There are many communities surrounding San Diego that do not have the public services that we enjoy every day within the city. Most or much of Julian, Fallbrook, Jamul, Alpine, Descanso, Pine Valley, Campo, Valley Center and many other remote communities typically do not have city-type services and utilities.

So if you are going to buy a home outside the city, make sure you find out what public services and utilities are and are not available for the property before you close your escrow. This will help eliminate any surprises later on.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

Time to remodel?

Home remodeling is still a very common desire for homeowners. Most everybody wants to have a beautiful home with all of the modern conveniences that are available. The upgrades and improvements that you can do to your home today are almost endless. From the inside of the home to the outside, you can remodel every inch from floor to ceiling and from property line to property line. So if you are planning on doing some remodeling to your home, you should consider the following.

Always take into consideration the financial return you will get on the remodel when you go to sell your home. There are many things that you can do to remodel your home that will, and will not add value to it. You want to try to do things that will add good value, so when you go to sell your home, you can usually get your money out that you put into it.

The two most typical improvements that add true value to your home are remodeling your kitchen and bathrooms. These are two areas that will usually add good value to your home.

Painting is another good way to improve your home. It is an easy and affordable way to keep your house in good condition and looking great. The overall good appearance of your home can be achieved with a simple interior and exterior paint job.

Also, simple landscaping and the maintenance of it can add a lot of beauty and value to your home. Most people are very visual, and if you create a home with great curb appeal and a beautiful interior, it will always be desirable.

There are many things that people do to their homes that do not give a lot of added value. Typically, putting in a built-in swimming pool does not add much additional value. You will be lucky to get back the money you spend on a pool when you go to sell. Many people looking for a home specifically do not want a pool due to the upkeep and the safety issues for small children.

Also, be careful to not do extravagant remodels. You want your home to conform to the neighborhood so that when you go to sell it is not the biggest and most upgraded house in the neighborhood. Sometimes people love their homes so much they get a little crazy with remodeling and try to have every bell and whistle that is available.

When you remodel, try to stay away from trendy upgrades that will be out of style within a few years. Right now, the latest kitchen trend is to go with a patterned counter top, like granite, and then to have another patterned backsplash, such as decorative glass tile. Although this may be fresh and fun now, it is way too visually busy and will be out of style within a short period of time. Try to go with more natural colors and themes that meet your needs and satisfy your decorating tastes.

Make sure you always pay fair market value for the service that you are receiving. You will want to get at least two or three estimates before you actually hire a handyman or a contractor to do a job.

Adding an addition to your home will increase its value. Square footage is one of the most important factors in determining the value of a home. If you are planning to add a room or any kind of living space to your home, I always recommend that you go through the City of San Diego’s Building Department to get the proper permits for the addition. By doing this, you can ensure that the job will be done properly and when you go to sell your home you will be able to provide the buyers with a copy of the permit.

Until next time, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

We are all aware of solar energy for the home. But most of us do not have it nor are we familiar with it and its technology. Slowly, more and more homes are being equipped with solar energy and it is something that all of us should be educated on and ultimately consider.

Solar energy is one of the most popular renewable energy technologies for homes and businesses. For every hour the sun beams onto Earth there is more than enough energy to satisfy most of the global energy needs. Solar energy is the technology used to harness the sun’s energy and make it useable. Today, the technology produces less than one tenth of one percent of global energy demand. Below is a very basic and general overview of how solar energy actually works:

Every day, light hits the roof’s solar panels with photons, which are particles of sunlight.

The panel converts those photons into electrons of direct current (“DC”) electricity. Naturally, the sunnier it is, the more energy is produced by the panels.

The electrons flow out of the panel and into an inverter and other electrical safety devices.

The inverter converts that “DC” power into alternating current or “AC” power. AC power is the kind of electric energy that your television, computer, toasters and most electrical household items use when plugged into the wall outlet.

A bi-directional meter keeps track of all the power your solar system produces. Any solar energy that you don’t use immediately will go back into the grid through the meter. Then that extra solar energy is credited back to your bill.

It is hard to make a decision on something big like installing solar energy in your home when you do not know a lot about it. So you owe it to yourself to learn more and then at some point think about putting it in your home. One of the biggest deterrents to installing solar is that the initial cost is high. My neighbor installed solar last year and it cost him about $42,000. However, there are several government rebate programs and rebates from the solar companies that you can take advantage of so your cost can be substantially less. But ultimately, you will come out way ahead by having solar at your home because of the money you save on your utility bills. Some additional benefits of installing and using solar energy are listed below:

Solar energy is clean, safe and benign.

The energy is from the sun and it is free.

Solar energy is a huge and unlimited source of energy.

A home solar system can recoup its cost in as little as a few years. Thereafter, all energy produced will ultimately be net-positive over the system’s typical 25- to 30-year lifespan.

Energy generated from solar systems can replace and offset energy generated from fossil fuels. Roughly half the electricity generated in the United States comes from burning coal, a heavy contributor to CO2 emissions and airborne pollutants. Using solar power reduces consumption of coal and, thus, also reduces greenhouse gases and airborne pollution.

Depending on the type of solar system used and specific installation, a clean-energy system can offer a degree of autonomy from the existing status quo of energy suppliers.

You can Google home solar energy to get more information on it or call a local solar representative to learn more.

Until we meet again, enjoy your home life!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

PhoTOS.COM

As summer comes to an end, we can all reflect on how different this summer was in comparison to usual San Diego summers. We as San Diegans are used to a mild summer with a soft west breeze from the Pacific. We normally do not have the hot and humid climate that we experienced in the last couple of months. And although this humidity and heat was unusual for San Diego, it made me think of different ways to stay cool.

There are many things that we can do to make ourselves more comfortable when it is a particularly hot and humid day. Below are a few suggestions to consider.

Install ceiling fans – By installing ceiling fans in the living/family rooms and the bedrooms, you can make your house climate comfortable. This is a relatively inexpensive way to cool your house without running the central air conditioning, which uses far more energy than ceiling fans.

Enjoy backyard and garden living – Whenever possible, you can use your backyard or garden areas for dining and entertaining. This is a great way to stay cool, particularly on a hot summer evening. You can even have a movie night outside by bringing a TV into your yard and setting up a mini outdoor theater.

No stove and oven use – Avoid heating the house up by not using your stove and oven. You can barbecue outside, which is a wonderful way to spend a summer evening. You can also prepare foods that do not require using the oven or stove, such as a large garden dinner salad or many other kinds of cold summer salads. You can also get “take out” and bring it home. Or have a potluck with friends and have them bring different dishes of foods that everyone can enjoy.

Shower – We have all heard of a cold shower. Well, taking a cold shower is a great way to reduce your body’s temperature and to feel completely refreshed. This is a fast and effective way to deal with a hot summer day.

Swim – If you are lucky enough to have a pool, use it. Invite friends and family over for an old-fashioned pool party. If you do not have your own pool, there are many places you can swim, which is a great way to cool off. There are several wonderful community swimming pools around town like the one in Balboa Park located in Morley Field and the amazing pool at the Kroc Center on University Avenue, just east of College Avenue. Also, if you are a member of a gym, there is often a pool available for you to enjoy. You may have a friend or a neighbor who has a pool and is happy to share it with you. Swimming is a fantastic way to become refreshed while also getting some good exercise.

Go west – If you simply want get out of the house, remember, we have the amazing Pacific Ocean available to us, so take advantage of it. I know I am guilty of not going to the beach very often. But with the high temperature and humidity this summer, I made it a point on many evenings to reacquaint myself with many of the different beaches and coastal communities; which, by the way, are all beautiful and have their own flavor. It was a great way to stay cool and to re-explore San Diego.

The above suggestions are just a few things to keep in mind when you are trying to stay cool.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

San Diego’s Uptown District

“Walkability” has become a main priority for most people today who are looking for a home to buy or rent. This is a big shift from the old mindset of people moving out from the metropolitan areas into the suburbs, where you have to drive every time you want to shop, eat out or even get a coffee.

Over the decades in most large cities across the nation, high percentages of people wound up moving out of the metropolitan areas as new development and housing moved to the suburbs, also known as the “burbs.” Locally, typical examples were our metropolitan and downtown areas. As places like Mission and Fashion Valley were being developed and new housing developments were being built, large numbers of San Diegans began moving out of the older communities like North and South Park, Hillcrest, University and Normal Heights, Mission Hills, Kensington and all of the metropolitan area to relocate to the suburbs. Over the years as the flight to the suburbs continued, the older neighborhoods slowly deteriorated and became less than desirable. But one big problem to living in the suburbs is that you typically have to get in the car and drive to go anywhere or to do anything. In the last couple of decades that mindset has shifted and now people want to be in a neighborhood where eating out, getting a coffee, shopping or just people watching can be in walking distance. This shift in the mindset has made the metropolitan areas in San Diego and throughout the nation very desirable. Here in San Diego our downtown and metro area, which are basically all the older neighborhoods surrounding Balboa Park, have become super-desirable because you can walk everywhere and as a result, you do not have to be so reliant on your car.

In addition, most new developers in the last twenty years have copied the old European village style, which is typically built with retail shops on the first level and residential condo units above. One of the first developments in San Diego to be built with this design was the Uptown District in Hillcrest on University Avenue. At the time it was being built, in the late 1980s, it was considered revolutionary. And although it took time to be completed and the units to be sold, it has become one of the most popular and sought-after complexes in the entire metropolitan area and has been used as an example for other developers locally and throughout the nation.

So whether you live in an urban area or the burbs, enjoy getting out and walking in our beautiful and amazing city.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

Although home mortgage rates continuously go up and down, they have been historically low over the last couple of years. This has enabled more buyers to afford a home. But this summer, the average rate on a 30-year fixed mortgage fell again, this time dropping below 3.50 percent for the first time in recorded history.

The rate on a 30-year mortgage can now be as low as 3.49 percent, which is the lowest since long-term mortgages began in the 1950s. The average rate on a 15-year fixed mortgage, a popular refinancing option, dipped to 2.80 percent. That’s below any previous record. The rate on the 30-year loan has fallen to a record low level, in 13 of the past 14 weeks.

Cheaper mortgages have helped drive an active real estate market. Borrowing money is simply more affordable. For example, if you get a 30-year fixed mortgage today at 3.5 percent, you are going to pay a little over $350 per month for every $100,000 you have borrowed. So if you have a $400,000 loan balance, your monthly mortgage payment should be around $1,500 per month for the interest plus the amount for the principle. Of course you need to speak to a lender or a mortgage broker to get a better and more accurate estimate. But the main point here is that with mortgage interest rates at an all-time low and housing prices significantly down it is an amazing time to buy, particularly if you are renting.

As a result of low mortgage interest rates, housing prices nationally have started to stabilize in many large cities. Builders are more confident and are building more houses than they have in nearly four years. This is an excellent sign for our nation and our economy. Locally in much of San Diego, we have already seen significant price stabilization in the housing market. With regard to buyer activity, there is an extremely active market with tons of buyers pursuing property all over San Diego.

Low mortgage rates could also provide some help to the economy if more people refinance. When people refinance at lower rates, they pay less interest on their loans and have more money to spend on other goods and services. Many homeowners use the savings on renovations, furniture, appliances and other improvements, which help drive economic growth.

Mortgage rates have been dropping because they tend to track the yield on the 10-year Treasury note. A weaker U.S. economy and the uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasury securities, which are considered safer investments. As demand for Treasury notes increase, the yield falls.

Today’s low mortgage interest rates can benefit you directly. If you currently own a home and have a mortgage, you should consider refinancing to get the best rate possible. This can significantly reduce your monthly mortgage payment. If you do not own a home, you should consider buying a home to take advantage of the record low mortgage rates and low housing prices. If you already have a home and a good interest rate, you should consider purchasing an investment property.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

North Park craftsman-style home

There are many types of homes throughout San Diego and beyond. One of the most popular architectural styles is the craftsman home, which has the charm of yesteryear and a strong emotional attraction that draws people to them. A craftsman home is usually a top consideration when individuals are looking to buy or rent a home. Although people love the craftsman-style, most do not know much about its origin or history.

The American craftsman-style or the American arts and crafts movement is an American domestic interior and exterior architectural design. It is a style and a lifestyle philosophy that began in the late 1800s. As a comprehensive design and arts movement it remained popular into the 1930s. However, in decorative arts and architectural design it has continued with numerous revivals and restoration projects through to present times.

The American craftsman style has its origins from the British arts and crafts movement, which began as a philosophy and artistic style founded by William Morris in the 1860s. The British movement was a reaction to the Industrial Revolution, with its disregard for the individual worker and degradation of the dignity of human labor. Seeking to promote and support the craftsman, the movement emphasized the hand-made workmanship over the mass-produced.

The arts and crafts movement was also a reaction against the eclectic and over-decorated style of the Victorian era. It was an anti-Victorian movement, with William Morris a staunch socialist. However, the expensive construction materials and costly hand-made techniques used meant that the created works of the movement were actually only serving wealthy clientele. However, the philosophy and aesthetics of the British arts and crafts movement inspired a wide variety of related, but conceptually distinct, design movements throughout Europe, as well as the American craftsman movement in North America.

The American arts and crafts movement did share the philosophy of the reform movement and encouraged originality, simplicity of form, local natural materials and the visibility of actual hand craftsmanship. It was distinguished by being concerned with ennobling the modest homes of the rapidly expanding American middle class, which became the craftsman bungalow-style.

The craftsman-style home became so popular in the U.S. after the turn of the last century, Sears Roebuck & Company started making prefabricated craftsman homes that customers could order out of the Sears catalogue. Customers could select one of the different styles of craftsman home that Sears offered, which ranged from about $3,000 to $4,500, and then have it assembled on their own land.

Today, you can see craftsman homes all over San Diego and throughout the nation. In addition to being beautiful, they are known to be well-built and strong homes. An excellent example of a classic craftsman-style home is one that was recently listed in North Park. This amazing 5 bedroom, 3 bathroom home has been completely remodeled and beautifully restored to its original glory. Once you walk inside the home you are taken back in time. Each room is a true piece of art that shows off the incredible craftsmanship, with amazing built-in cabinets throughout the house, hardwood floors, beamed ceilings, original wide wood trim around all the windows, doorways and at the baseboards. This amazing home is truly a magnificent work of art and an exemplary display of the craftsman-style home at its best.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or email him at SpecialAgentTrent@gmail.com CADRE#01273643.

Relocating from Kansas City, Mo., David Mansour (left) and John Bode (right) are excited about their beautiful new home and life in Hillcrest.

San Diego is a very unique and desirable city for many reasons. One of the most obvious reasons is the amazing weather that we have here. In fact, San Diego has one of the best climates in the world year round. This is very evident when you watch the weather reports from the rest of the world. We have no snow in the winter and no humidity in the summer. The average temperature in the metropolitan area and much of San Diego is 71 degrees. In addition, there are many other wonderful attributes about San Diego; like its location on the beautiful Pacific Ocean; the amazing history and other major attractions that draw people to our amazing city. San Diego is like a magnet that continues to bring people to this very special place in the world.

Vacation is one reason why people come to San Diego, and it continues to be one of the most popular travel destinations in the nation. But it is not just Americans who come to San Diego for a vacation. We also attract people from all over the world who want to bask in our delectable weather and experience all that we have to offer. Tourism is still one of San Diego’s major industries, and combined with business travel and conventions, it generates an estimated three billion dollars a year. One example of a major convention is the Comic-Con international convention that was held recently, bringing more than 130,000 visitors to our downtown convention center. Needless to say, we as a city benefit greatly from all the money that is spent by conventioneers and other visitors, when they are in town. But it is not just visitors who are attracted to San Diego for a short stay. Because San Diego is such a desirable city, we also attract people who want to relocate here, both on a part-time or full-time basis.

San Diego is still a top consideration for people when they want to have a second home. San Diego provides a place for those who want to escape the bad weather conditions from all over the nation and beyond. Whether it is to escape from horrible cold winter weather or from the brutal summer heat and humidity that many cities have, people can enjoy San Diego’s amazing weather all year round.

In addition, San Diego continues to be a popular city for people to move to permanently. I continue to do a lot of relocations from in and outside the country. And when people move here, they are always happy they made the decision to do so. A recent example of relocation is a great couple who just moved here from Kansas City, Mo. They had the goal to move to San Diego for many reasons. One of the biggest reasons was to enjoy the incredible weather and the outdoor lifestyle that San Diego has to offer. But also, being a gay couple, they wanted to be in a city where they would feel more comfortable and be warmly embraced by their community. They made their goal a reality by buying a home here. They are now able to live happily ever after in their new San Diego home in Hillcrest. This wonderful couple will be a great new addition to San Diego because they are both very special and beautiful individuals.

San Diego continues to be a great big magnet that pulls people here for vacation, business trips, and relocation as full-time residents. We are all very fortunate to live in such an incredible city.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

There are many different kinds of property listings. There are bank-owned properties or foreclosures, which are the same thing. There are probate sales, trustee sales and regular type sales. But the one type of sale that is in a complete classification of its own is the short sale. We have all heard the term short sale, but many people do not understand what a short sale is and what is entailed in the process of one. It is the most misunderstood type of sale, so it is very important for you to have a general understanding of this type of listing.

A short sale listing is a property that is listed on the market like any other property. However, the seller is typically upside down on the property; meaning that their loan balance on the home is higher than what the house is worth. So the seller tries to work with the lender or lenders on the sale, so that they can get out from the financial responsibility of the home.

In the beginning, a short sale starts out like a regular listing. An agent will list and market the property until they receive an offer and get the seller’s acceptance. Once the seller has accepted an offer, it is then sent to the lender for an approval. This is when the process becomes very different than any other type of real estate sale.

Once a bank receives an accepted offer from the seller on a short sale property it will typically take three to six months for the bank to respond with an approval letter. It is not uncommon for more than one lender to be involved, which makes the process more complex, simply because there are two lenders to deal with. In some cases there are even three lenders. Once the lender or lenders respond with an approval, they will always have conditions as part of the approval. This means that the lenders will approve the short sale as long as the buyer agrees to the lenders’ specific additional terms and conditions. Typical terms and conditions from a lender on a short sale is that the property is sold as is, meaning the lender or seller will do no repairs to the home or allow for any credit to the buyer to make repairs. It is also not uncommon that the lenders come back with a higher sale price. This is very problematic, because the buyer is typically under the impression that the price that the seller has agreed to is the same price that the lender will also agree to. But this is often not the case. Listing agents will often list a short sale property below the actual market value to generate buyer interest and to get offers. So if you pursue a short sale, please keep in mind that the price that the seller agrees to may not be that actual price that the lender will approve a few months down the road.

I am often asked why a short sale takes so much time to be processed and why they are called short sales. My answer is I do not know. There seems to be no logical or intelligent answer other than banks are all understaffed and short sales are the last thing that they allocate their resources to. In fact, in the real estate industry short sales have earned the nickname of “long and painful sales.” Once a buyer is educated on them or they have attempted buying one or two, they usually avoid them.

There are many other things that are unique to the short sale process. Sometimes other fees pop up that the lender and seller are not willing or not able to pay, so it will be the responsibility of the buyer to pay for them. Some possible examples of this are past due homeowner association fees or liens that are discovered on the property. I recommend that you get a good, seasoned agent who will be able to guide you through the process.

Until we meet again, create and enjoy an amazing home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at 619-300-1621, at SpecialAgentTrent@gmail.com or at his office, The Metropolitan Group. (CADRE#01273643)

There is no exact timeframe or science to real estate cycles, but this alternation has been going on internationally ever since there were landowners. Today in San Diego and in most of the world, it is a buyer’s market. It has been a buyer’s market for four to five years, as prices have continued to drop. But we are a little unique in San Diego, not just with home sales but also with rentals.

The rental market in San Diego is a very strong one, with a high demand for properties across the board – apartments, condos, townhomes or single detached homes. As long as a rental property is priced at an appropriate market value it will be rented very quickly. It is the simple concept of supply and demand, and currently in San Diego there is a strong demand for rental properties.

Recently, I had a listing that was in escrow and the buyers’ lender required that the buyers rent their three bedroom condo in Hillcrest, in which they were currently living, before the lender would approve their loan. As a listing agent, that is not something you want to hear during escrow because it will delay the escrow process. However, the buyers’ agent put the condo on the market for rent and had it rented within a few days. This allowed them to provide their lender with a lease agreement, which satisfied the lender’s requirement and allowed the escrow to move forward in a timely manner. But it’s not just rentals that are in high demand in San Diego. There is also a high demand for home purchases too.

Many people are under the false impression that because it is a buyer’s market in San Diego, it is a very depressed market and there are a lot of “fire sales” going on. But that is not the case at all, and it is a very active buyer’s market with many buyers for every type of property. In particular, when a property is under $600,000 it is very common for there to be multiple offers as there is a higher percentage of buyers who qualify for this price point. Within this price range it is very common for a listing agent to get offers immediately after they have listed the property.

I find myself educating many people on the market in San Diego, particularly since I do a lot of relocations. When someone is coming from another state, they often do not believe how high the prices are and how active the market is here. Recently, I had a women come from out of state to buy a home here. She wanted a minimum three bedroom, two bathroom 2,000 square feet home on a large lot for under $200,000. Even after I explained to her in detail about the market here, she was still in total disbelief.

Keep in mind, that if you or someone you know is looking to buy or rent a home, it is a very active market. We are lucky to be living in a city that is a very desirable one. In addition to the local San Diego population wanting and needing to buy and rent properties, there are many people who want to buy a second or a retirement home, and just relocate to San Diego. This demand for housing keeps our San Diego real estate market extremely active.

Until we meet again, enjoy your home life.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at 619-300-1621 at his office, The Metropolitan Group. (CADRE#01273643).

Everyone has heard the real estate terms, short sale and foreclosure. Often people confuse the two types of transactions, even though they are very different. Whatever your understanding is of short sales and foreclosures, it is important to know the following basic concepts for both of them.

Short sale

A short sale is a transaction on a property where the seller is typically having some kind of financial hardship. What makes short sales very different from any other type of listing is the seller must work with the lender to get an approval before they can sell the property. The reason for this is the lender usually takes a financial loss on the property, and therefore needs to approve it.

The usual process for a short sale is a seller lists the property with a Realtor. After an offer is received and accepted by the seller, the offer is then submitted to the lender for an approval. At this point, the seller and the buyer must wait for the lender’s response, which can take six months or more. This is one of the biggest challenges to a short sale. Even after the waiting period, there is no guarantee that you will get the lender’s approval on the sale.

Efforts have been made in the last year to streamline the short sale process and some progress has been made. But still, short sales typically take a long time, with no assurance that a buyer will get the property. In fact, after the seller has accepted the offer and they are waiting for the lender response, many buyers wind up finding another property that they are interested in and do not pursue the short sale.

Foreclosure

A foreclosure is a transaction where a property has actually been taken back by the lender and is owned by them. For the most part, when a foreclosure or a bank-owned property goes on the market, the process is just like a regular listing. The typical first step to selling a foreclosed property is that it gets listed and put on the market by a listing agent. Then the seller, who is the lender, accepts an offer and opens escrow.

There is no long waiting period for the lender to accept an offer. Sometimes the banks may take several days or even a week to accept an offer, but not several months like short sales.

After the offer is accepted by the bank in writing and escrow is opened, the rest of the steps are like a typical sales transaction. However, the sellers of foreclosed properties are exempt from providing buyers with some of the customary disclosures.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

Home equity is the difference between the balance of your home mortgage and the current market value of your home. If you are fortunate enough to have equity in your home, using it to invest in real estate is something you may want to consider.

Throughout history, many people have made outstanding investments in real estate. Many have even made fortunes. This is not unique to our country and it has occurred throughout the world, generation after generation. But there are many things you must take into consideration when you are thinking of doing the same.

In previous articles I have mentioned that you need to be smart with the equity in your home. In fact, there are many advantages to paying off your mortgages on your home and investment properties, particularly when you are planning for and reaching retirement age. In a future article, I will talk about paying off your mortgage and ways to expedite doing that. But for now, if you have equity in your home and feel comfortable using it, there is no better way than to invest it in real estate.

First, you want to speak with a representative at a bank, credit union or a mortgage broker to get pre-qualified and to learn about your options for refinancing and using the equity in your home. Mortgage interest rates are so incredibly low it is very affordable to borrow money right now. And with housing prices down, it is a fantastic time to buy property. After you have been pre-qualified and want to move forward, you can then refinance your home and pull money out of it for a down payment on an investment property. I never recommend that anyone ever overextend themselves financially. So if you are going to do this, please make sure that you feel comfortable with it.

Prices are significantly down from five years ago and mortgage interest rates continue to be historically low. So this is a great time to buy.

If your budget allows, you can consider anything from a single detached home to a multi-unit rental property. Whatever you buy, you want to make sure that there are recent comparable sales in the immediate area of properties that are as “apples to apples” as possible so that the comparable sales are consistent with the offer amount you are agreeing to buy the property for. To assist you with the process, you will want to work with a seasoned realtor to guide you through each step. One of the most wonderful things about buying a property is that you do not pay for the services and commission of your buyer agent. It is customary that the seller pay for the commissions for both the broker of the seller and the broker for the buyer.

Property management companies typically charge about ten percent of the gross income of the property. But keep in mind, this fee can be negotiable and also tax deductible. There are also different levels of service that property management companies offer from full service to a select service. There are many advantages for having a property manager look after your income property, so it is something you can consider, if it works within your budget.

Using your home equity for investing in real estate is something you can consider, particularly now when it is a buyer’s market.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at The Metropolitan Group at 619-300-1621 or at SpecialAgentTrent@gmail.com CADRE#01273643.

When you think of the American dream, you usually think of owning your own home. You envision a beautiful house with a white picket fence and flowers in the front yard, or maybe a really nice new condo with great amenities and a view. Whatever your idea is of the perfect home, it is all part of the American dream.

What you may or may not know is this dream can be a reality for everyone. No matter who you are, what your age is or what economic background you come from, everybody can own their own home. All you have to do is a little planning to make this dream a reality.

The first step to home buying is to save some money for your down payment and for your closing costs. Whatever your income is, you need to save some of it each month. If you are finding it hard to save money, you may want to assess your spending habits and start a budget for yourself. There are many things that we spend money on and may not be aware of how much it adds up to over time.

For example, if you are a regular Starbucks kind of a guy or girl, you can be easily spending more than $2,000 a year on this daily beverage. Or if you go out to eat a lot, you can also be spending several thousand dollars a year without realizing it. Perhaps you like to hydrate at the local cantina or neighborhood bar, which is another way you can spend a considerable amount of money each year.

I have known many people over the years, from all different walks of life – some who have made incredible amounts of money and some who have not made so much. What has amazed me is that some of the folks who have made the least amount of money are the most financially sound. Many of them own property and have money in the bank.

One example in particular is a man I know who works as a janitor. You may think that this individual lives from paycheck to paycheck. But this is not the case at all with him. He has three homes that he has paid off. He also has a substantial amount of money in the bank and has no debt. How impressive is that?

This is a great example of being financially responsible and making the best of what income you make. It is not how much money you make in life, but rather what you do with what you make.

The message here is very simple. Just be responsible with regard to your money. Live beneath your means and always put money aside for savings. If you do not already own a home, start saving money for the down payment. If you do already own your home, you should consider saving money for a down payment to invest in an income property.

One of the most popular and affordable loans in the last few years has been an FHA loan that requires a down payment as low as 3.5 percent. So this is a very realistic way for you to purchase a home without having to have a large down payment.

Buying a home is more realistic than you may think. Particularly because mortgage interest rates continue to be low and because it continues to be a buyer’s real estate market. By doing a little planning, you can buy your own home sooner than you think and can live the American dream!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

Anytime you buy a home or any kind of a property or refinance one, you will be required by the lender to have an appraisal. This is done by an independent appraiser whose expertise is to determine the current value of your property. As a property owner you should be aware of some aspects of appraising.

The most common time an appraisal is done is when a home is being purchased. The appraiser will be informed of the sale price of the home and his or her goal will be to substantiate that price. The appraiser will do many things to evaluate the property; the most important thing that an appraiser will look at is the comparable sales of other similar properties that have sold in the last few months in the immediate area. The appraiser will assess the square footage of living space, condition, upgrades, amenities, lot size and many other factors compared to other homes. The appraiser will want to compare “apples to apples” in properties and not bananas and peaches. It is easier for an appraiser to compare and appraise condos because they are typically more “cookie cutter” and have similar characteristics. But whether a condo or a single detached home is being purchased or refinanced, an appraisal will be required.

Another common reason for an appraisal is when you refinance your property. All lenders will require an appraisal so they know the value of the property before they will refinance it. Because property values have dropped over the last several years, today, appraisers are very conservative with regard to value. Five years ago, appraisers were very liberal and thought nothing of giving very high values to properties because prices kept rising and appraisers felt safe putting a higher value on a property. So today, a buyer does not have to worry about overpaying for a property because it will have to appraise at a fair market value. In fact, this can be used to a buyer’s advantage when the buyer is in a multiple offer situation on a property and needs to increase the amount of their offer. Providing the buyer is qualified, he or she should not be afraid to increase their offer price. This might be the trick to get the property you want when you are competing with other buyers.

Appraisals are also done sometimes by individual property owners, not when they are buying or refinancing a property but because they simply want to know the value of their property. But if you do this you need to be aware that the appraiser does not have a specific amount or value to substantiate, like when someone is buying a home. So the appraisal may not reflect the true value of a property. So please keep this in mind if you are ever hiring an appraiser to do an appraisal for you just for your general knowledge.

Also keep in mind that when you are doing an appraisal for a home purchase or a refinance, you are responsible for paying the appraiser. A typical home appraisal can be around $450 or more depending on the size of the home. Once you get into income and commercial property appraisals, they tend to be a lot more expensive.

Until we meet again, enjoy life and your home.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

Beautifully furnished, comfortable outdoor living space with built-in fireplace.

San Diego has one of the best climates in the world all year. As a result, we as San Diegans are fortunate to be able to spend most of the year doing activities outside. Year round you can see people jogging, biking, hiking and walking their four legged friends; skateboarding, eating on their favorite outdoor café patio or just taking a stroll through their hood. But one of the most wonderful benefits to our incredible weather is having outdoor living space in our homes.

Whether you have a small condo or a more spacious home, it is essential to have some kind of outdoor living area. You can literally make a patio into an outside family room. Particularly today, when there is so much furniture and accessories specifically sold for exterior use. I recently sold a condo in the metro area that had the unusual feature of a very large 20’ x 15’ outdoor patio terrace. Although it was not technically considered part of the square footage of the living space, the new owner will be able to use it as a beautiful and spacious living area. His plans are to furnish it with some super-comfortable and stylish outdoor patio furniture. This will be his main place to hang out with his friends and family.

Depending on your budget, you can create an elaborate or a simple outdoor living space. If you have the budget, you can even hire a professional contractor to create a more sophisticated outdoor living space. I see houses all the time and have seen some of the most beautiful and elaborate outdoor spaces. Some examples of outdoor features are fireplaces or a fire pit, special lighting, trellises, arbors, built-in seating and water features. There is no end to what you can do to create your outside space.

I have also seen many outdoor living spaces over the years that have been done simply and yet they are still beautiful and inviting. So you can create a great space on a budget. One of my clients has created several outdoor living spaces over the years. He normally uses a typical 10′ x 10′ canopy to outline and define the space he wants and then simply furnishes that area with a variety of pieces. What makes it extra special are the accents that he adds like soft lighting, candles, pillows, sheers or drapes to complement the canopy.

So take advantage of our beautiful weather in San Diego and create or update your outdoor living space at your home. Spring is here and summer is just around the corner.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

There are many different types of home loans that are available to you as a buyer. In fact, banks and other lending institutions have dozens of different loan programs that you can choose from when you are purchasing a property or refinancing one. It is not possible to cover all of them in this article, but below are some of the most common loans available today.

The Federal Housing Administration (FHA) loan has become one of the most popular loans today because it allows the buyer to put as little as 3.5 percent as a downpayment. Therefore, it is possible to buy a house when you do not have a lot of actual cash available. Many people think they have to have a large downpayment to buy a home. But this is not the case with the FHA loan. However, if you have enough money, you can put more down as a downpayment and consider a conventional loan.

Conventional loans are also very common and popular today, and are widely used in the lending world. These loans will require a larger downpayment than an FHA loan but keep in mind, the more you put down, the lower your loan balance and your monthly payment will be. Conventional and FHA loans are probably two of the most common loans that are being used today. However, there are other types of loans like the VA loan (Veterans Affairs).

VA loans are not as common as FHA and conventional loans, but they are used by many buyers who qualify as military veterans. With a VA loan, a qualified buyer can take advantage of some special benefits offered to them by the government. There are some requirements that the seller must cooperate with when accepting an offer from a VA buyer, but it is a good loan and a great benefit for our veterans. A negative to the VA loan is that a lot of sellers do not want to cooperate due to the requirements that are part of the loan. As a result, the seller will try to find a conventional or FHA buyer first before considering a VA buyer. It is simply a reality of the real estate world.

Typically, what sellers and listing agents look for in a buyer’s financing is prioritized as first, a cash offer; second would be a conventional loan with as large of a downpayment as possible; third would be an FHA loan and last would be other types of loans like VA loans.

There are many different kinds of features in each of the loan categories. For example, there are fixed loan rates and adjustable loan rates. There are different lengths of time that a loan can be extended. The most common period is thirty years. But there are also shorter time periods like 15 years.

Another tidbit to keep in mind as a general rule is that you as a buyer will be required to pay for monthly mortgage insurance (PMI) if you put less than 20 percent down. This is an insurance that protects the lender if a buyer defaults on the loan and is charged monthly as part of your mortgage payment. If you are able to put 20 percent or more down, you should not be charged PMI. Five years ago it was very easy for almost anyone to get a home loan. But today, lenders are stricter with their lending criteria and they look more closely at a buyer’s credit score, income, debt ratio and assets when qualifying them. Lenders are still lending money. So if you want to buy a home or an income property do not hesitate to call your bank or credit union and get prequalified. It is a very quick and simple process and can even be done over the phone.

As I have shared in previous articles, real estate has always been one of the best investments historically throughout the world. So you owe it to yourself to look at buying a home.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

We live in a world of temptations where there is something to buy around every corner. In addition, we have become conditioned to wanting immediate gratification. So if there is something we see that we want, we simply buy it. If we do not have the actual money for the item we simply charge it on a credit card. We have become and are known as a consumer-based society. Well, all of this is fine except for when you need money to buy something of substance like a home and you find that you are broke.

Many of us today do things and spend money in ways that we think are a basic way of life, but just a few decades ago these same things would have been considered luxuries. There are so many examples; like going to a Starbucks daily and buying that special coffee; going out to eat several times a week; playing lotto or even going to one of your favorite casinos. Maybe you like the weekend getaways to Palm Springs, L.A. or some other travel destination. Getting a massage is certainly at the top of my list for treating myself. The discretionary ways in which we spend money are endless, not to mention the things we have to spend money on like rent/mortgage, gas, groceries, insurance, utilities and medical etc. So it is up to us to be mindful and exercise care with our spending and live beneath our means.

I had a friend visit me recently from London and as a nice gift, he surprised my partner and I by treating us to an overnight stay at one of the upscale and beautiful hotels downtown. He reserved two suites for us, which were very elegant and high end. I must say it was fun to indulge in that type of decadence. But when I found out what the rooms cost, I was not happy. My friend spent more than $600 for the one night stay. And although the thought was nice, I did not want him to spend that kind of money on me. I would have been happier with him treating us to a meal at Urban Mo’s, Baja Betty’s, Babbo Grande or one of the many fun restaurants around town, which would have been a fraction of the cost. What was the worst part of this is that my friend is a regular working-class guy. He does not have the kind of money to spend $600 plus on a one-night hotel stay, particularly when we had made arrangements for him to stay with us.

Although this example might be a little extreme, there are countless examples of how we all spend money without thinking much about it.

It is wonderful to treat yourself to special things in life, but make sure when you are spending your money you are not over-extending yourself financially. It is so easy to spend money, and you can find yourself spending your money faster than you can make it.

If you have not already done so, take the time to assess how you spend your money each day. You will probably be amazed at some of the items you buy and how quickly your money can go. You may want to make a budget for yourself and long and short term financial goals. Of course, one of the most important things that we should all use our money for is a home. If you already have a home, then consider helping a friend or family member who is currently renting, plan for a home purchase. Now is such an incredible time to buy a home. Housing prices are significantly down from five years ago and mortgage rates are historically low. So save your money and buy a house.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

One of the most important aspects of buying a home is to have a home inspection done during the escrow process. There are many things that you may not be able to see on the interior and the exterior of a home that may need repair. There are also many things that you should take into consideration and keep in mind when you do a home inspection. Listed below are a few points to be aware of:

As a general rule, when you hire a home inspector, they will check most aspects of the interior and exterior of a home. They should go into the attic, the garage and also under the home if the home has a crawl space. At the end of the inspection the home inspector should give you a verbal summary and should also supply you with a comprehensive written report of the findings. Do not be intimidated by the repairs that are outlined in the report. No matter how new or how nice a home is, there will typically always be many items found that are in need of repair or in need of some kind of maintenance or upgrade.

Through the years building codes have changed greatly. As a result, there are tens of thousands of homes all over San Diego and throughout the state that are not compliant with today’s standards. However, at the time that these homes were built they adhered to the current building codes of that time. In fact, California has one of the strictest building codes in the nation, so it can be very overwhelming to have a home inspection and be presented with the findings. It is essential that your home inspector does not just identify problems with a home but also properly explains to you possible ways the repairs can be carried out. Most items that are found in a home inspection are easily fixed. I remember when I bought my first home, many years ago, I was overwhelmed by the home inspection report and quite honestly I did not understand most of it. But through the years I have reached a much better level of understanding of general repairs and try to share that information with my clients during the purchase or the sale of a home. So whenever you have a home inspection, make sure you have an opportunity to speak to the inspector to ask any questions you may have about the inspection and the property.

The most common time that people do an inspection is when they are buying a home. But it is also a good idea to do a home inspection if you currently own your home. This way you can learn a lot about your property and its condition. Usually you will find items that are in need of repair that you were not aware of. In addition, you will typically find many safety related items to address or upgrade. It is also common to identify preventative maintenance items that are needed, which often can save you money in the long run by fixing a problem before it gets too big.

In addition to a general home inspection, there are many other types of inspections you can do on a home. A termite inspection is another example of an inspection that can be done, which usually is separate from a general home inspection and specifically focuses on damage to the property caused by termites, wet rot, dry rot and damage caused by other living organisms. In a future article I will cover more information on the many other kinds of inspections you can do. But for now just remember you will always want to do a general home inspection anytime you are buying a property. You will also want to find a professional home inspector who has good experience.

Typically your home is one of your biggest investments so you want to make sure it is in good condition and that it is as safe as possible. By doing a professional home inspection, you can be aware of your home’s condition and maintain it accordingly.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

At some point you will probably need a Realtor to either buy or sell a property. So how do you go about finding a good one that will meet your needs, particularly when there are a lot of Realtors to choose from? Well below are some recommendations that can help you select a Realtor that is right for you.

Experience

First, it is important to hire a Realtor who has been in the business a while and is experienced. Real estate has become more complex during the years and it is imperative that you work with a Realtor who is familiar with all the intricacies of the business. It is not in your best interest to consider a Realtor who is new in the business.

Full time

It is common to find Realtors who are part time. There are many reasons for this. A lot of Realtors need to work another job to make ends meet. Some are trying to break into the business as new agents. As a result, they are only available as a Realtor part of the time. You need to work with a real estate agent who is available to you – even in the evening and on weekends.

Interview

Once you have found two or three real estate agents that sound good on the phone, it is recommended that you meet with them in person. This will give you an opportunity to see first-hand if you like how they conduct themselves, and to see if there exists the right chemistry and fit for you.

Specific knowledge

What type of property you want to sell or buy can be of significance, when choosing a Realtor. For example, if you are selling an income or commercial property, you are going to want a real estate agent who is seasoned in that area. You many also want to try an agent who is familiar with the specific geographic location that you want to buy or sell in.

Realtor vs. agent

Just because a real estate agent has a license to sell property doesn’t mean she or he is a Realtor®. You may have noticed I followed that last reference to “Realtor” with the “circle-R” symbol for “registered trademark.” That is what the word Realtor is – a trademark. In order to legally call yourself a Realtor, you have to be a member in good standing of the National Association of Realtors®, which means you must adhere to the organization’s strict code of ethical conduct as you practice the business of being a Realtor.

References

It is always a great idea to get references from a Realtor. This will allow you to speak to people who have worked with the Realtor directly, so you can hear, first-hand, the experience they had with them. This also affords you the opportunity to ask questions that are of interest to you and that relate to your specific situation.

Referral

One of the best ways to find a real estate agent is to have someone you know refer them to you. If you know someone who has had a good experience with a Realtor, you should meet with them. This is probably the single most important factor when selecting a real estate agent.

One of the biggest complaints I hear about some Realtors is that they are simply not available. So when you are selecting a Realtor make sure you ask them how available they are going to be to you. For example, some Realtors have scheduled time slots when you can speak to them. But it is in your best interest to simply have a real estate agent who will be available to you when you need them.

The real estate industry may look simple from the outside looking in, but it is not. It has become a very complicated process and it is essential that you work with a good and experienced Realtor, when you need to buy or sell a property. When that time comes, keep in mind the tips above to help you find a Realtor that will best meet your needs and will do the best job possible for you. Happy house hunting or house selling!

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Associations of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

Here in fabulous San Diego, it continues to be a buyer’s real estate market. With housing prices significantly down from five years ago and mortgage interest rates continuing to be historically low, it is a great time to buy

Real estate is not as complicated as it may seem to be. I know there are all kinds of books, CDs, DVDs, workshops and classes that are available to educate you on buying property. But let me keep it real simple for you. The best advice for you as a property owner or a buyer is to simply buy when prices are low and sell when prices are high. I realize there are many factors that do not make it possible to always follow this rule, but you want to keep this concept in mind and whenever possible stick to it. Even though property values always go up and down over time, one of the best investments historically throughout the world has always been real estate. So do not be afraid to buy property.

If you are currently renting an apartment or a home, you owe it to yourself to consider buying a house or condo. If you already own your home, you should consider buying an investment property, even if it is just a one bedroom condo. It is so important to plan for your financial future, no matter what age you are. Buying property is one of the best investments you can make particularly now that housing prices are down and you can buy when they are low. In addition, mortgage interest rates are remarkably low.

Some additional benefits to homeownership are:

Tax benefits – All the interest that you pay on a loan is tax deductible. So each year you can deduct the interest you pay and as a result pay less in income tax. When you rent, you will never see any kind of a return on the money you pay in your monthly rent.

Payment predictability – As long as you have a fixed rate mortgage, which I recommend, you can anticipate your monthly payments. When you rent, your landlord can increase your rent each year. In fact, an annual rent increase is recommended by property management companies and is a standard in the real estate industry.

Stability – When you own your own home you can plant your roots and stay in one place. I have known many people over the years that have had to move out of their rented home or apartment because the owner was selling, wanted to move back in or some other reason that caused them to take back possession of the property.

Pride in ownership – You can improve your property by landscaping, decorating and doing whatever improvements you want to without the interference or approval of your landlord. Plus, most renters do not want to put money into a home that is not theirs and therefore, you never make your rented house truly your own.

Feeling of community –Statistically renters move more often than homeowners. So when you own a home there is more of an opportunity to get to know your neighbors and as a result you will have more of a feeling of community. Once you have property, be careful to protect your equity in it; this is the positive difference between your loan balance and the actual value of your property. Do not refinance and take more money out on your property, unless it is essential. This is how many people have over extended themselves in recent years. The real estate market in San Diego is different from many other cities throughout the nation, due to the fact that there are a lot of buyers in the market here looking for property. So as a buyer, you are often competing with other buyers when submitting an offer on a property. It is not uncommon to have multiple offers on a listed property. Particularity when the property is priced properly with today’s market and is priced under the $600,000 range. So remember, it is now a buyer’s market and the best time to buy property. Also, keep in mind that in addition to the low interest rates and housing prices, there are many other advantages to owning property.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).

Whether you live in a single-family home, condo or an apartment, it is wise to keep it as secure as possible. Statistics show that in times of economic downturns, home burglaries go up. So it is more important than ever that you keep your home safe and secure. Listed below are some tips that you can use to decrease the possibility of your home being broken into.

Lock up

Anytime you leave your home, you should always lock all of your doors and windows, even if you are just leaving for a short period of time. It is also recommended that when you are home to keep your doors and windows locked that are not in use.

Provide night lighting

It is always a good idea to have lights located in key locations on the exterior of your home. One of the most popular kinds of exterior lighting today is the motion-sensored light. With motion-sensored lights you are not wasting electricity until the light is activated. It is also recommended that you have an interior light on a timer, so when you are not home it will turn on automatically giving the appearance that someone is home.

Re-key

Anytime you move into a new place, you should always change the locks. You never know who a previous occupant has given keys to. An easy and cost effective way to do this is to have all of your locks re-keyed by a local locksmith. Also try to avoid giving your keys out to people like housekeepers and other types of service providers. It is also not a good idea to leave keys in outside hiding places.

Start a neighborhood watch program

It is highly recommended that neighbors get together and start a neighborhood watch program. It is a relatively easy thing to do and can have a great effect on preventing crime. You can contact your local police station for more information on a neighborhood watch program and a representative can come and educate you and your neighbors.

Have a watch dog

It may be a little old-fashioned, but dogs are a huge deterrent for burglars. Most dogs will bark when someone approaches a home, and most burglars will simply not consider a home with a dog.

Trim landscaping

Having heavy shrubs, bushes and plants by windows can create a prefect setting for a burglar to enter a home. So it is suggested that you trim and or clear landscaping by windows and other ways of entry so that they are more visible and less inviting for a burglar to use.

Install a security system

There are many different kinds of security systems you can put in your home. To learn about the different options, you should contact a local security service company. These companies offer basic to full service programs and although they will cost you money, it is usually money well spent.

There are also many factors that you cannot have control over with regard to burglaries. For example, statistically homes on alleys are a better target for a burglar because they can be easily entered from behind. Also with the use of cell phones today, a burglar can enter a home from the alley and have a “spotter” in the front of the home simply sitting unnoticed in a car. If someone arrives at the home during the burglary the spotter simply can call his cohort, who is inside the home, to alert him of the arrival and to get out of the house immediately. This makes it almost impossible for the burglar to get caught.

It is not possible to completely protect your home 100 percent from being burglarized, but you can take many preventative steps to significantly decrease the chances of it happening to you. The time you take to prevent burglaries, will be time well spent.

Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, 619-300-1621. The Metropolitan Group (CADRE#01273643).