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April 29th, 2010
San Diego and South West Riverside Real Estate Market Trends
APRIL-2010 Newsletter Housing Trends eNewsletter
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.
Please click here to view the APRIL-2010 Newsletter Housing Trends eNewsletter.
If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.
April 23rd, 2010
365 Fun Things To Do Within Minutes of Rancho San Pasqual
365 Fun Things To Do Within Minutes of
Rancho San Pasqual
Among other reasons I am going to give you 365 things that are fun to do that are within minutes of Rancho San Pasqual. This gated golf course community offers a tremendous amount of opportunity and value to someone considering a move here. 
Surrounding Eagle Crest Golf Course, this community offers homes from 3-6 bedrooms ranging in price from $350k-$750k. Just minutes to freeways, shopping, parks, and more this is a great opportunity to own a home in “the country” while being city close.
Over the course of the next few months I am going to give a bunch of ideas of things to do with your friends, family or just for fun on your own. All are within minutes of the neighborhood.
A fun night out is dinner at the local Brigantine Restaurant. Fun for drinks and appetizers or a great meal. Located just off of Center City Parkway, it is under 10 minutes from the gates of Rancho San Pasqual.
Visit their web site at The Brigantine.
For more information on living in Rancho San Pasqual call or email me today. Jennifer 858-521-7277 or JennBurroughs@gmail.com
April 14th, 2010
Just Listed – South West Escondido
Beautiful One Story 4 Bed, 2 Bath Home
in
South West Escondido For Sale
This is a fantastic opportunity to own a single family home in this South West Escondido neighborhood. The home offers, a nice open floor plan, eat in kitchen with center island, large backyard, and spacious bed rooms. Quick access to schools, freeways, shopping and more. No Mello-Roos and low HOA dues.
Seller will entertain offers between $420,000 – $445,000. Seller can close quickly, be in an ready for summer!
For more information or for an appointment to see the home call or email Susi at Susi@SusiVickery.com or 619-922-2801
April 7th, 2010
Tax Credit Questions and Answers
Top 4 Questions Home Buyers Have About the Tax Credit
San Diego home buyers are active as the April 15 deadline to file 2009 federal tax returns approaches, the National Association of Home Builders (NAHB) is providing answers to some of the questions home buyers are most frequently asking about the home buyer tax credit.
“NAHB’s website that provides information about the home buyer tax credit, www.FederalHousingTaxCredit.com, has received more than 8 million visits,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “We are doing everything we can to make sure home buyers are informed about this outstanding opportunity to benefit from buying a home before it expires April 30.”
Some of the more commonly-asked questions, and the answers, include: 
1. How does a home buyer claim the tax credit?
The credit is claimed when the home buyer files or amends their federal income taxes. For qualifying homes purchased in 2009 or 2010, the taxpayer must complete IRS Form 5405 and attach a copy of the settlement statement. In most cases, the settlement statement is a properly executed Form HUD-1.
In circumstances where a HUD-1 is not provided, such as purchasing a mobile home or a newly constructed home, the IRS will accept an executed retail sales contract (mobile homes) or a copy of the certificate of occupancy (new homes).
2. Does the home buyer have to sell their current home in order to qualify for the $6,500 repeat home buyer tax credit?
A home buyer does not need to sell their current home in order to be eligible for the repeat buyer credit. They can continue to own both homes, and rent or use their former home for something else, as long as it no longer serves as their principal residence. The taxpayer is required to use the new home as their principal residence, and live in it for at least 36 months, or they will have to repay the credit.
3. Do married couples both have to meet the eligibility requirements in order to claim the credit, even if they file taxes separately?
Both spouses must fully meet all the eligibility requirements for either the $8,000 first-time home buyer tax credit or the $6,500 repeat buyer tax credit, regardless of if they file joint or separate tax returns. However, if an unmarried couple purchases a home and only one person qualifies, the eligible person may claim the full credit.
4. Do all home purchases need to be completed by April 30, 2010, in order to be eligible for the credit?
There are two exceptions to the April 30 deadline. If the buyer enters into a binding contract by the deadline, they have until June 30, 2010, to complete the purchase. The deadline has been extended a year, to April 30, 2011, for members of the uniformed services, Foreign Service or employees of the intelligence community who have been on qualified extended duty outside the United States for at least 90 days between January 1, 2009, and April 30, 2010.
For more information about the tax credits or to take advantage of them yourself, call or email me today. JennBurroughs@gmail.com or 858-521-7277
April 7th, 2010
Rancho San Pasqual Market Analysis for 1st Quarter 2010
Rancho San Pasqual Market Analysis for 1st Quarter of 2010
After doing a quick review of the real estate market in Rancho San Pasqual for the 1st quarter of 2010 a few interesting tid bits of information came out.
First, 5 homes have closed escrow in the first quarter. This is more than double the number of homes that sold in the first quarter of 2009. Although, 5 does not seem like a large number, when you compare it to a year earlier, it appears to be a sure sign that the market has started moving again in this area.
Second, the average sale price for homes sold YTD is $471,800. Again, this represents an increase from 2009 which had an average sale price of $410,000.
Third, the average market time has increased to 92 days. However, one of the sold homes was on the market for 274 days, skewing the average significantly. This home was a short sale the market time in no way reflects the condition of the home or the marketability of the area. It is however, a reflection on how long it can take banks to approve short sales.
Fourth, there are 5 homes pending in escrow. These homes have an average market time of 111 days. However, again, one of the homes is a short sale that was on the market for 291 days.
Fifth, for homes that have sold, the average sale price per square foot is $187, this number is down from 2009, when it was $210. It is quite possible that the increased sale price indicates that the homes that have sold are larger than the homes sold last year and would therefore warrant a lower price per square foot average.
All in all, Rancho San Pasqual has not been immune to the realities of the economy. However, buyers are still finding value in the homes and the area. There are currently 5 homes for sale, ranging in size from 1500 square feet to 2900 square feet. If you are anyone you know is thinking about making a move, you should consider this fantastic neighborhood. 
For more information on homes in the area or a confidential analysis of what your home may be worth, call or email me today!
JennBurroughs@gmail.com
858-521-7277
March 22nd, 2010
Condo For Sale in Carmel Mountain Ranch – Rancho Bernardo
2 Bedroom Condo For Sale in Rancho Bernardo
This is a fantastic opportunity to own a home in Rancho Bernardo, located in Carmel Mountain Ranch, you will love the location! Walking distance to great shopping, including Costco, Home Depot, and more! Kids attend the award winning Poway Unified School District.
Conveniently located just off the I-15, just a 15 minute commute to Miramar Air Station, the beaches and Universities/Colleges!
2 bedroom, with just over 1000 square feet. Upgraded counters and cabinets, make this a great home.
Call or email me today for a showing. JennBurroughs@gmail.com or 858-521-7277.
March 17th, 2010
Military Families Find Relief in Selling their Home
San Diego Military families are finding relief in selling their homes using the Housing Assistance Program.
For San Diego Military families, who are being relocated, there can be some
relief available to you in the form of the Housing Assistance Program (HAP). According to the Department of Defenses Web Site,
“The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.
The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.”
What this means to you….
If you are active duty military and are getting orders that require you to move, we can help you sell your home, even if, the value has dropped and you owe more than the home is worth.
We have been able to assist local military families, list and sell their homes, with the help of the HAP program administered by the DOD. We can help you determine your eligibility and help get the home sold and closed, so you can move to your next destination.
For more information, call or email us. We appreciate all that you and your family do for us, this is our small way of giving back!
For a FREE private consultation – Email Jennifer at JennBurroughs@gmail.com or call 858-521-7277.
Just SOLD
