Thursday, January 28, 2010

Who Is This "Peg" Person at RealtorPeg.Posterous.com?!

Greetings! For myself and for Prudential California Realty, welcome to your perfect source for in-depth real estate information. Why? Because I refuse to lose! I have a unique set of skills beyond real estate sales to assist you in your choices and walk together with you through the maze of legal paperwork that accompanies all California real estate transactions. Service is service is service, however with my additional research and analytical skills, you’ll receive a quality of trust and care far beyond just “service”. On the cutting edge of high tech home sales analysis and marketing technology, I will assist you in finding your home to love or selling your home in a successful and happy conclusion for you and your family. Join me and the elite Prudential California Realty team to be a truly winning force in your San Diego real estate goals. You too deserve the absolute best, let’s do it! Together, we become the winning team to envy.

WHO AM I, WHERE HAVE I COME FROM?

A lifelong animal & nature lover, I was a Navy “brat” as a kid and have extensively traveled all my life. My travels have made me comfortable in just about any culture or ethnicity. As a matter of fact, up to 1/2 of my clients were NOT born in the United States (of course, the other 1/2 of us were)!

1970 – 1975: Starting Pitcher - ASA/AAU National Fast-Pitch Softball Championships. I didn’t like losing, so I learned to pitch!

Grew up and received college degrees in Liberal Arts and Bachelor of Science degree.

Worked 20+ years in aerospace design and test engineering on jet engines and satellite components which allowed me to finely tune my research and analytical skills. I now apply these skills to real estate data to determine the best course of action personalized for each individual client. You could be one of those who receive only direct personal, priority care from me! Not from an assistant or from an automated program system, but from the real live me whether on the phone, by snail-mail or by email.

READY TO GET STARTED?

Now, no fluff, no sales pitch stuff, let’s just get started. Click the below link to search for homes for sale or homes already sold and for educational info on San Diego real estate.

http://www.prudentialcaliforniare.com/prucal/agentprofile/agent.aspx?agentid=106575

--- OR --- Copy/Paste the above into the address bar of your browser.

When you arrive at my website, click on “Find A Property” at the top of webpage to search for homes! Also, notice the buttons on the lefthand side of my website, for instance, the “Buyers” button has informative articles about buying San Diego real estate, “Sellers” has articles with helpful tips for selling your San Diego home and “Communities” has information on demographics and characteristics of Southern CA counties and cities. Lastly, you will see an entire entourage of buttons showcasing Prudential’s one-stop affiliated services to fully support the 100% success of your real estate transaction, all from one visit with me.

NOT HAPPY WITH THE SEARCH RESULTS? Really Easy Fix! Just email me or call me and I will set you up with an even more comprehensive search that will come directly to your email inbox with ALL the Multiple Listing Service (MLS) homes that match your own personal criteria!

Better yet, I PROMISE NOT SPAM YOU and you will always, always have a link on any email from me to OPT-OUT AT YOUR CHOOSING.

Cheers, Have Fun & Enjoy - Peg

Posted via web from RealtorPeg

Median Home Prices thru Dec '09 from Peg

Greetings,

The latest in San Diego SOLD home prices through Dec '09.

For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:

Ø  Compared to 1 mo ago, 54% of zips either went up in market value or stayed essentially the same (within +/-5% market value). Most notable of these was Pacific Beach with a 19% increase over values of the prior month.

Ø  Compared to 2 mos ago, the market value of 46% are still either at a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Top dog in this category is Linda Vista with a 96% increase in the market value of 2 mos ago. And, 15% have shown an increase or stayed the same in market value for 2 mos straight.

Ø  Compared to 1 year ago, we have 39% with a market value either higher in market value or essentially the same (within +/-5%) as 1 yr ago. Leading the 1 yr category is Linda Vista with 23% increase over values of 1 yr ago.

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 50% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Bay Park/Old Town  leads this pack with a 20% increase over values of the prior month!

Ø  Compared to 2 mos ago, again, the market value of 45% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Point Loma had a 19% increase in the market value over those of 2 mos ago.  And, 28% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we now have 72% with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have Bay Park/Old Town shows a 16% increase over market values of 1 yr ago.

To summarize:  We are still seeing an slight RISE IN PRICES THIS WINTER over both the 1 month and 2 month periods in almost 1/2 or more of our zip codes, not quite as dramatic as in Oct & Nov, but still a noticeable change. The slight slowdown from the pace of Oct & Nov in part can be attributed to the glut of people hoping to close escrow by the end of Oct to qualify for the federal $8000 credit program and, in Nov, we have folks who did not quite make the Oct deadline but were no doubt quite relieved that the program was extended! 

These sales that were seen in Dec are really the telling story about where we stand with real estate recovery in San Diego since these sales are not so heavily influenced by the $8000 credit program. That is why we say, in Dec we are still showing some signs of recovery at a steady, albeit a distinctly slower pace. Most economists who I have heard/read specializing in real estate, are saying that 2010 & 2011 will continue this trend of monthly ups & downs but also will still have a basic very gentle, upward trend.  Then in 2012, they perdict we will see definite upward movement in real estate values more closely resembling a “normal” market. One of the criteria they use for this projection are the number of loans scheduled to "reset" the monthly payment in 2010 & 2011 to create a higher monthly payment for the homeowner thus putting them at risk for default and forclosure. The number of loans scheduled to “reset” in 2012 is known to be significantly less than the number scheduled for 2010 – 2011.

Cheers - Peg

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

Median Home Prices thru Dec '09 from Peg

Greetings,

The latest in San Diego SOLD home prices through Dec '09.

For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:

Ø  Compared to 1 mo ago, 54% of zips either went up in market value or stayed essentially the same (within +/-5% market value). Most notable of these was Pacific Beach with a 19% increase over values of the prior month.

Ø  Compared to 2 mos ago, the market value of 46% are still either at a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Top dog in this category is Linda Vista with a 96% increase in the market value of 2 mos ago. And, 15% have shown an increase or stayed the same in market value for 2 mos straight.

Ø  Compared to 1 year ago, we have 39% with a market value either higher in market value or essentially the same (within +/-5%) as 1 yr ago. Leading the 1 yr category is Linda Vista with 23% increase over values of 1 yr ago.

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 50% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Bay Park/Old Town  leads this pack with a 20% increase over values of the prior month!

Ø  Compared to 2 mos ago, again, the market value of 45% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Point Loma had a 19% increase in the market value over those of 2 mos ago.  And, 28% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we now have 72% with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have Bay Park/Old Town shows a 16% increase over market values of 1 yr ago.

To summarize:  We are still seeing an slight RISE IN PRICES THIS WINTER over both the 1 month and 2 month periods in almost 1/2 or more of our zip codes, not quite as dramatic as in Oct & Nov, but still a noticeable change. The slight slowdown from the pace of Oct & Nov in part can be attributed to the glut of people hoping to close escrow by the end of Oct to qualify for the federal $8000 credit program and, in Nov, we have folks who did not quite make the Oct deadline but were no doubt quite relieved that the program was extended! 

These sales that were seen in Dec are really the telling story about where we stand with real estate recovery in San Diego since these sales are not so heavily influenced by the $8000 credit program. That is why we say, in Dec we are still showing some signs of recovery at a steady, albeit a distinctly slower pace. Most economists who I have heard/read specializing in real estate, are saying that 2010 & 2011 will continue this trend of monthly ups & downs but also will still have a basic very gentle, upward trend.  Then in 2012, they perdict we will see definite upward movement in real estate values more closely resembling a “normal” market. One of the criteria they use for this projection are the number of loans scheduled to "reset" the monthly payment in 2010 & 2011 to create a higher monthly payment for the homeowner thus putting them at risk for default and forclosure. The number of loans scheduled to “reset” in 2012 is known to be significantly less than the number scheduled for 2010 – 2011.

Cheers - Peg

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

Average Mortgage Interest Rates for Last 30 Years

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

San Diego Neighborhood Stabilization Program

Home Buyer Assistance Programs

 

 

Neighborhood Stabilization Homeownership Program Funding now available

 

The pre-approval application process is now open for first-time home buyers seeking to purchase foreclosed properties in the City of San Diego through the San Diego Housing Commissions (SDHC) Neighborhood Stabilization Homeownership Program (NSHP).

 

NSHPs primary objective is to help a first-time home buyer from a low-moderate income

(Up to 120% Area Median Income) with good credit and the ability to make mortgage payments buy a foreclosed property within the City of San Diegos targeted areas in City Council Districts 3, 4, 7 and 8 from San Ysidro to Miramar. Click here for maps of the targeted areas.

 

A first-time home buyer is defined as an individual who has not owned a home in the last three years.

 

The financial assistance is made possible through a $9.4 million federal grant, (Housing and Recovery Act of 2008-H.R. 3221), which was awarded to the City of San Diego in January and is being administered by the San Diego Housing Commission.

 

Pre-Approval

 

San Diego Housing Commission (SDHC) is currently accepting pre-approval applications for NSHP. First-time home buyers who believe they meet the requirements for the program are encouraged to contact a certified NSHP lender to assist with the process; or the buyer can complete the pre-approval application on their own and deliver it to:

 

San Diego Housing Commission

Attn: Loan Management

1122 Broadway #300

San Diego, CA 92101

 

Upon receipt of the pre-approval application, SDHC will determine the buyers eligibility and issue a pre-approval letter that can be submitted with a purchase offer using the NSHP.

For questions regarding the NSHP pre-approval process, contact:

Vicki Monce 619.578.7491 or vickim@sdhc.org

 

Home Buyer Education

 

All potential buyers are required to attend an eight hour home buyer education class with a SDHC approved class provider. The buyer must attend the class before placing an offer on a property. The classes fill up quickly, so any buyer considering participating in NSHP should enroll in a class today!        

NSHP Deferred Payment Loan

 

SDHC will provide eligible buyers with a 0% interest deferred payment loan up to 17% of the sales price to assist in the purchase of the home. No payments are required for 30 years, unless the property is sold, refinanced or not owner occupied, at which time the loan must be repaid. A minimum of 3% down payment from the buyers personal funds is required. The first trust deed loan must have a 30-year fixed interest rate.

 

NSHP Closing Cost Assistance Grant

 

SDHC will provide eligible buyers with a closing cost assistance grant up to 3% of the sales price. The grant can ONLY be used to pay closing costs which are not covered by seller concessions or other subsidies. The grant is recoverable, and must be repaid plus 5% interest if the property is sold, refinanced, or not owner occupied within the first six years. After six years, the grant is forgiven.

 

NSHP Rehabilitation Loan

 

SDHC will provide eligible buyers with a 0% interest rehabilitation loan up to $50,000. The rehabilitation loan must be used for repairs related to health and safety, curb appeal, and energy efficiency. Loans up to $10,000 will be forgiven in 5 years; loans up to $30,000 will be forgiven in 10 years; loans up to $50,000 will be forgiven in 15 years. If the property is sold, refinanced, not owner occupied, or if the repairs have not been maintained within the term of the loan, the rehabilitation loan must be repaid plus 3% interest.

 

Related documents for home buyers

      Related documents for certified NSHP lenders        

Click this link for website and forms!
http://sdhc.org/NSP.shtml

Posted via web from RealtorPeg

HUD Waives 90 Day Flipping Rule Beginning Feb. 1, 2010

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties

WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.

"As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers," said Donovan. "FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization."

With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.

"This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed," Donovan said.

In today's market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.

The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.

"FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties," said FHA Commissioner David H. Stevens. "This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity."

The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of "flipping" where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:

  • All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
  • In cases in which the sales price of the property is 20 percent or more above the seller's acquisition cost, the waiver will only apply if the lender meets specific conditions.
  • The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

Specific conditions and other details of this new temporary policy are in the text of the waiver, available on HUD's website.

###

HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development ad enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

 

Posted via web from RealtorPeg

Some Funny Pics!

Woooooooo-hooooooo, from somewhere in la-la land - check it out & enjoy ...........

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

HomeBuyer Credit Extension Criteria

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

San Diego County Leads Region in Home-Price Gains

County leads region in home-price gains

Pace of sales, compared with ’08, also increasing

Wednesday, January 20, 2010 at 12:02 a.m.

 

San Diego County, with a 10 percent increase, led Southern California in home price improvement last month, although Los Angeles had the highest sales growth on a year-over-year basis, MDA DataQuick reported yesterday.

Overall, the six-county region had a 4 percent increase in median price, rising from $278,000 in December 2008 to $289,000 last month. It was the first year-over-year improvement since summer 2007. The one exception was the Inland Empire, where prices in Riverside and San Bernardino counties were lower in December than a year earlier.

Sales were up 12.1 percent regionally, while San Diego, as earlier reported, was up 9.8 percent and Los Angeles was up 31.3 percent.

Kelly Cunningham, senior economist at National University’s Institute for Policy Research in San Diego, said the coastal counties typically fare better than the Inland Empire because of the historic preference for living near the beach and the lack of new development in the nearly built-out coastal zone.

“It’s somewhat encouraging that things are picking up,” he said.

During the mid-2000s boom, many San Diego workers fled to southern Riverside County to take advantage of lower prices for bigger homes. With the latest figures, the price gap between San Diego and Riverside grew from $91,000 in December 2008 to $134,000 last month. But Cunningham said San Diego workers looking to buy may still find it more affordable and tolerable — at least for now — to stay local than to endure the hour-plus commute.

“At some point, I think it will turn around, but we’re not there yet,” he said.

In other findings from DataQuick, the “flipping rate” — resales of homes within three weeks and six months of the initial purchase — was lowest in San Diego County in December at 2.4 percent and highest in San Bernardino County at 3.8 percent. The regional average was 3.1 percent. Cunningham said the lower rate in San Diego County may reflect relatively more investor interest in foreclosure properties elsewhere.

The percentage of resales that had gone through foreclosure in the previous 12 months was 39.6 percent regionally in December, up from 39 percent in November. San Diego’s rate was 35.8 percent last month, up from 32.6 percent in November.

In financing, Southern California buyers typically paid $1,231 per month in mortgages last month, up from $1,207 in November but down from $1,239 a year earlier. Adjustable-rate mortgages accounted for 4.6 percent of home loans, the highest since September 2008 but far below the 51 percent average level since 2000.

Federal Housing Administration-insured loans accounted for 39.6 percent of all home purchase mortgages, up from 39.1 percent in December 2008; 24.9 percent of sales were all-cash deals involving no mortgage, compared with 22 percent a year earlier — another indication of investor interest in foreclosures.

 

Posted via web from RealtorPeg

Monday, January 25, 2010

Fw: Median Home Prices thru Dec '09 from Peg

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

--- On Mon, 1/25/10, Peg Heying <realtorpeg@yahoo.com> wrote:


From: Peg Heying <realtorpeg@yahoo.com>
Subject: Median Home Prices thru Dec '09 from Peg
To: posterous@posterous.com
Date: Monday, January 25, 2010, 2:18 PM

Greetings,

The latest in San Diego SOLD home prices through Dec '09.

For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:

Ø  Compared to 1 mo ago, 54% of zips either went up in market value or stayed essentially the same (within +/-5% market value). Most notable of these was Pacific Beach with a 19% increase over values of the prior month.

Ø  Compared to 2 mos ago, the market value of 46% are still either at a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Top dog in this category is Linda Vista with a 96% increase in the market value of 2 mos ago. And, 15% have shown an increase or stayed the same in market value for 2 mos straight.

Ø  Compared to 1 year ago, we have 39% with a market value either higher in market value or essentially the same (within +/-5%) as 1 yr ago. Leading the 1 yr category is Linda Vista with 23% increase over values of 1 yr ago.

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 50% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Bay Park/Old Town  leads this pack with a 20% increase over values of the prior month!

Ø  Compared to 2 mos ago, again, the market value of 45% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Point Loma had a 19% increase in the market value over those of 2 mos ago.  And, 28% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we now have 72% with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have Bay Park/Old Town shows a 16% increase over market values of 1 yr ago.

To summarize:  We are still seeing an slight RISE IN PRICES THIS WINTER over both the 1 month and 2 month periods in almost 1/2 or more of our zip codes, not quite as dramatic as in Oct & Nov, but still a noticeable change. The slight slowdown from the pace of Oct & Nov in part can be attributed to the glut of people hoping to close escrow by the end of Oct to qualify for the federal $8000 credit program and, in Nov, we have folks who did not quite make the Oct deadline but were no doubt quite relieved that the program was extended! 

These sales that were seen in Dec are really the telling story about where we stand with real estate recovery in San Diego since these sales are not so heavily influenced by the $8000 credit program. That is why we say, in Dec we are still showing some signs of recovery at a steady, albeit a distinctly slower pace. Most economists who I have heard/read specializing in real estate, are saying that 2010 & 2011 will continue this trend of monthly ups & downs but also will still have a basic very gentle, upward trend.  Then in 2012, they perdict we will see definite upward movement in real estate values more closely resembling a “normal” market. One of the criteria they use for this projection are the number of loans scheduled to "reset" the monthly payment in 2010 & 2011 to create a higher monthly payment for the homeowner thus putting them at risk for default and forclosure. The number of loans scheduled to “reset” in 2012 is known to be significantly less than the number scheduled for 2010 – 2011.

Cheers - Peg

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

Fw: Some Funny Pics!

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

--- On Mon, 1/25/10, Peg Heying <realtorpeg@yahoo.com> wrote:


From: Peg Heying <realtorpeg@yahoo.com>
Subject: Some Funny Pics!
To: posterous@posterous.com
Date: Monday, January 25, 2010, 2:11 PM

Woooooooo-hooooooo, from somewhere in la-la land - check it out & enjoy ...........

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589


Posted via email from RealtorPeg

Who Am I?

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

Posted via email from RealtorPeg

HomeBuyer Credit Extension Criteria

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

--- On Mon, 1/25/10, Peg Heying <realtorpeg@yahoo.com> wrote:


From: Peg Heying <realtorpeg@yahoo.com>
Subject: HomeBuyer Credit Extension Criteria
To: posterous@posterous.com
Date: Monday, January 25, 2010, 10:07 AM

Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589


Posted via email from RealtorPeg