| |||||||||||||||||||||||||||||||||||||||||||
Friday, June 29, 2012
SAN DIEGO JULY 2012 EVENTS
SCIENCE CENTER - JULY SUMMER FUN, DEEP SEA & GROSSOLYMPICS!
619-238-1233
1875 El Prado | San Diego | CA | 92101
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thursday, June 28, 2012
July 4, 2012 San Diego Fireworks Calendar
Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell: (619) 301-8589
Email: realtorpeg@yahoo.com
Website: http://www.realtorpeg.com/
Facebook: http://www.facebook.com/realtorpegsd
Twitter: http://twitter.com/realtorpegsd
Friday, June 22, 2012
33rd Annual OB Street Fair & Chili Cook-Off Festival !
Event Date + Time: Sat, June 23, 2012, 10:00 am - 8 pm
Thousands will flock to Newport Ave. and surrounding areas for the Ocean Beach Street Fair & Chili Cook-Off Festival, Saturday June 23rd, 2012. Live music on 6 stages and entertainment, unique vendors, talented artists, thrilling rides, refreshing beer garden, and so much more! People ride the free trolley by the hundreds and park their bikes at the new bike valet. It's a free festival, with fun for your entire family - so be sure to mark your calendars! For more information please contact the Ocean Beach MainStreet Office (1868 Bacon St., #A San Diego, CA 92107 - 619-224-4906) or via email to Info@OceanBeachSanDiego.com.
read more ---> http://www.oceanbeachsandiego.com/special-event/street-fair-chili-cookoff-festival
Tuesday, June 12, 2012
FREE Summer Concerts 2012 San Diego County
Mary "Peg" HeyingREALTOR® - CA DRE License # 01726709Prudential CA Realty890 W Washington St.San Diego, CA 92103Cell: (619) 301-8589Email: realtorpeg@yahoo.comWebsite: http://www.realtorpeg.comFacebook: http://www.facebook.com/realtorpegsdTwitter: http://twitter.com/realtorpegsd
Tuesday, June 5, 2012
WHEN IS THE BEST TIME TO SELL OR BUY?
For those of us in the real estate industry, no matter where we go and no matter who we’re with, the number one question is always “How is the Market”? often followed by one of these questions: “Are things picking up?” “Is this a good time to buy my first home?” “Is this a good time to sell my home?”
The answers depend on the individual situation however, the general consensus is that this is a very good time for buying and for selling.
Why? With interest rates historically low, paying rent is like saying you would rather help pay off someone else’s mortgage rather than your own. Investors have wisely purchased during the economic downturn and are able to get a high return on their rental properties.
In our San Diego market, inventory is very low creating a good time for homeowners to consider placing their property for sale at current market value which is improving and the result is quite positive. Activity is big due to high demand, meaning a faster sale is likely. It’s challenging for buyers to find available homes so a good realtor is key.
As rental rates climb and interest rates remain at an all time low, this could be enough to push the first time buyer off the fence. Your Real Estate professional is able to help you connect with reliable lenders so you can be pre-approved for a home loan and make a decision that will benefit your family, your lifestyle and your future.
With increased demand for that ‘move-in ready’ dream home, this is indeed a good time to speak with your local Realtor about the prospect of placing your home on the market. They will help you prepare your home and get the best price possible.
For short sales, this is the year if you are in the situation to act. The tax benefit based on deficiency funds written off by the bank in a short sale is due to expire at year’s end. If a seller waits it could mean major future tax consequences. Some banks are doing moving credits for sellers if they qualify to sell under a short sale, benefiting both Buyers and Sellers. All good reasons to act!
This is a very good time to buy and to sell. Don’t sit around thinking about it. Be prepared and you’ll know when the time is the best for you.
Steve Rodgers, President/CEO/Partner Real Living Lifestyles Integrated Real Estate Services
courtesy of: http://www.utsandiego.com/
Monday, June 4, 2012
CREDIT SCORE MYTHS... And Facts to Consider
Remember that department-store card you signed up for to get an instant discount? Or the medical bill you didn’t pay on time?
What seem like minor moves could drive down your credit score, which factors in big time when you’re trying to finance your future home. Lenders look at how much you make, what you own and how much you’re able to put down — but your credit score also is a major factor.
“It’s four basic factors: income, assets, credit and the property itself,” said Chad Baker, a loan officer at Prime Lending, which has offices in the UTC area and Mission Valley.
“If anything is wrong with the four, then you will have problems,” he added. “If you need a higher down payment, then you can offset it with a gift from a friend or family member. But if you’ve exhausted everything (to fix your credit,) there’s nothing you can do. So, it’s extremely important.”
The good news: Certain credit-score issues can be fixed on your own at no cost as long as you understand a few financial basics — from paying bills on time to requesting your free credit reports. Those simple pointers could help you not only qualify for a mortgage but also save you up to thousands of dollars in the long run.
They can also make or break your chances in today’s tougher lending environment, which generally requires a bigger down payment and more proof of income than during the last housing boom.
A recent study shows the average credit score for someone who successfully closed any kind of mortgage in April was 745 (with 20 percent down). The findings, based on 20 percent of loan originations in the country, are from Ellie Mae, which provides services to the mortgage industry.
The U.S. average is 692, and California’s is 691, according to FICO, which rates consumers’ credit histories on a scale of 300 to 850. So, if you don’t have the 745 score cited in the Ellie Mae study, does that mean your chances of getting a mortgage are nil? No, mortgage insiders say. U-T San Diego busts that credit myth and others in this how-to guide:
Myth: Lenders are looking for one magic number.
Fact: The score range you should shoot for depends on what kind of mortgage you want. For a conventional loan, which makes up almost 60 percent of total purchase loans in San Diego County, an ideal score is 680 or more, said Baker, of Prime Lending. For a loan backed by the Federal Housing Administration, or FHA, lenders say a safe bet is 640 and up, but some may consider scores as low as 600, Baker said. FHA loans make up more than 23 percent of purchase loans in the county, DataQuick numbers show, and usually are a go-to for first-time buyers since the down payment requirement tends to be lower.
For the best pricing, lenders are looking for a 740 or more, said Kurt Branstetter, loan officer and mortgage manager at W.J. Bradley Mortgage in San Diego. Branstetter is referring to the tiered pricing system from Fannie Mae and Freddie Mac, which own more than 60 percent of mortgages in the state.
What’s the difference in dollars? If you have a 740 credit score or higher and put 20 percent down for a $400,000 loan, then you could expect to pay $1,000 in fees. It goes up to $2,000 if you fall into the 739-720 tier, Branstetter said. “You don’t have to pay that,” Branstetter said, referring to the fees. “You can take a higher (mortgage) rate.” But either way, a lower credit score in those cases would mean more money out of your pocket.
Myth: There’s nothing I can do to change my credit score.
Fact: You have more control than you think. Changes all start with knowing what’s in your credit report. Everyone is entitled to one free credit report a year from any of the credit bureaus: Experian, TransUnion and Equifax. While these free reports don’t typically disclose a credit score for free, they do give a thorough account of your credit history, from that department-store card you got on a whim to the dentist checkup you forgot to pay for.
“The good and bad, it’s expressed in numbers, that’s all,” said Southern California credit expert Nabil Captan during a seminar at this week’s San Diego Association of Realtors’ Expo.
If you notice anything astray in those reports, you can report it to those credit agencies. They are required to correct or zap any inaccurate or unverifiable data in your accounts, under the Fair Credit Reporting Act. Consumers also can have a mortgage professional run a credit-score check.
Myth: Even if I do find an error in my credit report, it will take forever to correct.
Fact: You can get a rapid rescore done with the help of the lender. Branstetter, of W.J. Bradley Mortgage in San Diego, says a current client was shocked to see her score fall to about 720 from her usual 780 range.
A closer look at her credit report showed a late payment on a department-store credit card bill that apparently had been sent to another address as a result of a typo.
The consumer was able to talk to the credit lender and get the correction in writing to share with all three credit agencies. These types of corrections take about a week to several months to correct, depending on the issue and credit company. To get the issue resolved more quickly, borrowers can do a rapid rescore, which typically costs a fee that’s sometimes absorbed by the mortgage lender. Rescores usually take two to three days to process. Be sure to ask who will cover the cost of the rapid rescores.
Myth: I’ve never been late on any payment, so it’s a waste of time to check my score.
Fact: Errors in credit reports happen all the time, everything from incorrect birthdays to paid balances shown as delinquent. The advice is, check everything.
Myth: The definitive source to get my free credit report is freecreditreport.com.
Fact: It’s actually annualcreditreport.com. Once you go to the site, choose the state you’re in from the drop-down menu and click request report. Then you’ll fill out a brief questionnaire that wants identifiers from your name to Social Security number.
Once you get access to your free credit reports, the agencies will ask if you want to buy your credit scores. You can, but be wary: The credit scores provided by TransUnion, Experian and Equifax may not always used by lenders.
For instance, Experian’s website cautions: “Calculated on the PLUS Score model, your Experian Credit Score indicates your relative credit risk level for educational purposes and is not the score used by lenders.”
W.J. Bradley Mortgage in San Diego and most mortgage lenders run scores from all three bureaus and take the middle number. However, if you’re in doubt about the lender’s methodology, be sure to ask.
courtesy of: Lily Leung, http://www.utsandiego.com/
Sunday, June 3, 2012
The Old Globe's 2012 Shakespeare Festival Begins June 3 With Richard III
The Old Globe's 2012 Shakespeare Festival, performed in repertory at the outdoor Lowell Davies Festival Theatre, kicks off June 3 with William Shakespeare's Richard III, starring Jay Whittaker in the title role.
British director Lindsay Posner makes his debut at the Globe with his production of Richard III, which continues through Sept. 29. Opening night is set for June 24. The cast also features Dan Amboyer (Earl of Richmond), Happy Anderson (George, Duke of Clarence), Matthew Bellows (Sir Richard Ratcliffe), Adam Daveline (Second Murderer), Jeremy Fisher (Marquess of Dorset), Vivia Font (Lady Anne), Robert Foxworth (Lord Hastings), Dana Green (Queen Elizabeth), Aidan Hayek (Young Duke of York), Charles Janasz (Stanley, Earl of Derby), Rachael Jenison (Second Citizen; Sir Vaughan), Jesse Jensen (Sir William Catesby), Joseph Marcell (Lord Mayor), Jonas McMullen (Edward, Prince of Wales), Robin Moseley (Queen Margaret), Danielle O’Farrell (Sir Walter Herbert), Allison Spratt Pearce (Third Citizen; Earl of Oxford), Bob Pescovitz (King Edward IV), Deborah Radloff (Duchess of York), Stephanie Roetzel (Sir William Brandon), Christopher Salazar (Lord Rivers; Tyrrel), Jacques C. Smith (Duke of Buckingham), Jonathan Spivey (First Murderer), Whitney Wakimoto (Lord Lovell), Bree Welch (First Citizen; Scrivener) and Sean-Michael Wilkinson (Sir Robert Brakenbury; Lord Grey). According to Old Globe, "Richard III is one of the most diabolical and outrageous villains in all of literature. A ruthless Machiavellian, the brilliant and power-hungry lord embarks on a bloody campaign to seize and keep the English crown. Shakespeare paints an unforgettable portrait of obsession, seduction, betrayal and a man who would be king."
The festival's creative team includes Adrian Noble (artistic director), Ralph Funicello (scenic design), Deirdre Clancy (costume design), Alan Burrett (lighting design), Lindsay Jones (sound design), Shaun Davey (original music), Peter Golub (original music), Steve Rankin (fight director), Elan McMahan (music direction), Christine Adaire (vocal and dialect coach), Calleri Casting (casting) and Bret Torbeck (stage manager).
Richard III is performed in repertory with As You Like It, which begins performances June 10, and Inherit the Wind, which begins June 17. The 2012 Shakespeare Festival continues through Sept. 30. Read more about the festival here.
*
The Old Globe will also offer special events associated with the festival, including "Insights Seminars" June 18 (Richard III) and June 25 (As You Like It, Inherit the Wind); "Post-Show Forums" July 11, July 31 and Aug. 21 (Richard III), July 17, July 25 and Aug. 28 (As You Like It) and July 10, Aug. 7 and Sept. 5 (Inherit the Wind); "Shakespeare in the Garden" seminars; and "Out at the Globe," an evening for gay and lesbian theatre lovers, Aug. 9 at 6:30 PM, among others.
In addition to the Shakespeare Festival, the Globe's 2012 summer features Divine Rivalry by Michael Kramer, with D. S. Moynihan and directed by Michael Wilson (July 7-Aug. 5); and Yasmina Reza's God of Carnage, directed by Richard Seer (July 27-Sept. 2).
The Old Globe is located in San Diego's Balboa Park at 1363 Old Globe Way. For more information and tickets, call (619) 23-GLOBE or visit TheOldGlobe.org.
courtesy of: http://www.playbill.com
Average 15-Year Fixed-Rate Mortgage Breaks Barrier, Falls To 2.97 Percent
Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates following bond yields lower to new all-time record lows. The 30-year fixed averaged 3.75 percent setting a new all-time record low for the fifth consecutive week. The 15-year fixed averaged an unprecedented 2.97 percent bringing three of the four benchmark mortgage rates below 3 percent for the first time in Freddie Mac’s weekly survey.
The survey showed that the 30-year fixed-rate mortgage (FRM) averaged 3.75 percent with an average 0.8 point for the week ending May 31, 2012, down from last week when it averaged 3.78 percent. Last year at this time, the 30-year FRM averaged 4.55 percent.
Additionally, the 15-year FRM this week averaged 2.97 percent with an average 0.7 point, down changed from last week when it averaged 3.04 percent. A year ago at this time, the 15-year FRM averaged 3.74 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84 percent this week, with an average 0.6 point, up from last week when it averaged 2.83. A year ago, the 5-year ARM averaged 3.41 percent.
Results showed that the 1-year Treasury-indexed ARM averaged 2.75 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 3.13 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.
“Market concerns over tensions in the Eurozone led to a decline in long-term Treasury bond yields helping to bring fixed mortgage rates to new record lows this week,” says Frank Nothaft, vice president and chief economist of Freddie Mac. “Compared to a year ago, rates on 30-year fixed mortgage rates are almost 0.9 percentage points lower which translates into nearly $1,200 less in annual payments on a $200,000 loan. Meanwhile, the S&P/Case-Shiller 20-city composite home price index, not seasonally adjusted, showed annual home-value gains in March in seven cities and a monthly gain in 12 cities.”
courtesy of: http://rismedia.com
Riding The Wave of Business Cycles
A review of business cycles can offer a glimpse into the future. The practice can be especially gratifying when times are tough, because the history of cycles reflects the tremendous resilience of the world's business and financial communities.
In 2001, I wrote about the Kondratieff wave ("Hanging Ten on the Kondratieff Wave"), which was the Russian economist's theory that business cycles show a long-term steady pattern over successive 50-or-so year cycles. Generally speaking, long-term economic growth tended to end with an orgy of excessive borrowing -- businesses and individuals spending loan proceeds that they couldn't pay back.
It would be nice to further refine the notion of cycles so as not to have to guess where we are. The answer resides in the fact that the actual long cycle is 52 years and it is broken into smaller chunks of 13 years each. Within the 13-year cycle are even smaller periods of from three to four years each.
Then, to complicate matters, there's the seasonal stock market cycle commonly described as "sell in May and go away." This is the reference to the fact that two-thirds of market gains take place between October and April. Only a third of an average annual gain happens during the summer months.
Since cycles exist, how can we understand them well enough to maintain perspective and remain confident when it feels like we're otherwise peering into an abyss?
One clue is something called the leading economic index -- a statistic that is an aggregate of many economic factors. It can be accessed at www.conference-board.org, and it blends components such as housing starts, interest rates, the stock market and new orders for consumer goods. Changes in this indicator predict an economic high-water mark by an average lead time of 13 months and a low point by about 10 months.
The leading indicator is not to be confused with the Consumer Confidence Index, which the Conference Board also calculates. Despite all the attention it gets in the press, consumer confidence is largely useless as a forward indicator. One economist claims its only value is in predicting the demand for used boats.
The stock market is only slightly better as a forward indicator of future economic events. In far too many cases, the market has continued to rise while the economy has already entered a recessionary period. Under these circumstances, investors are saying, "Don't confuse me with the facts when I'm enjoying a nice buzz of irrational exuberance."
As an example, the highly respected analyst Mark Hulbert has calculated that a fair price for Facebook is about $15 per share based on conventional stock analytics applied to growth companies.
It helps to know which business cycles are important. Some of the most popular, but the least important, are those having to do with presidential elections and seasons of the year. These are not useful because they are short term and just confuse the issue.
At the end of May, for example, the stock market dropped by about 6 percent. Some seasonal traders would say that this is right on schedule with the rule of thumb about summer doldrums.
For anyone tempted to bail out of stocks, however, a Goldman Sachs exhaustive survey going back to 1900 indicates that the market has rarely lost money during the summer months. On average, after all, it has gained 3 percent per year during the summer. While September was the worst month, it showed a loss in just 51 percent of all past years. So, resist the urge to think short term.
Bottom line: Keep basic business cycles in mind and remember that, like the tides, they can be predicted with reasonable levels of certainty -- or at least enough certainty to serve the needs of long-term investors.
courtesy of: http://www.mercurynews.com
Subscribe to:
Posts (Atom)
