Hope Leitner, Realtor®, CRS

  The weather is still grey in San Diego, but the sun is shining bright on the real estate market. I have so many buyers ready to go! Are you ready to sell?    The calendar below is full of summer fun in the sun! The Fair is here! The Rock N Roll Marathon is here!    If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this  link.   June - Ponder this - “ Green was the silence, wet was the light, the month of June trembled like a butterfly.” — Pablo Neruda - I think I agree, the Earth is still damp from Spring, all the flowers are blooming and there’s a feeling of “trembling” romance is in the air. Take some time to romance your life. Marvel at the clouds, tell your loved ones they are loved.    Remember, I am always here for my clients and their friends and family.   Hope Leitner, Realtor®, CRS   Your forever agent.   HOPE OPENS DOORS    

With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable.   Some people are waiting for rates to come down and while they are expected to come down some this year, most experts agree that they'll never return to the three or even four percent range.   There are things that a buyer can do to be eligible for the best rate available.   Obtaining the most favorable terms is based on the loan-to-value, your credit rating, and your ability to repay the mortgage. While lenders can impose their own underwriting criteria, the basic qualifying guidelines are identified as the 4 Cs: Capital - money and savings, plus other investments providing for down payment, closing costs, and reserves for unexpected expenses in the future.   It could also include gifts from family members, grants, and down payment assistance. Capa...

An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer.   It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the difference in cash. Looking at the issue from the seller's perspective, "if the buyer wants my home and he can't get the loan he wants, he'll have to make up the difference in cash."   The buyer might have a different view like "If an independent appraiser can't justify the price, I'm not going to pay more than appraised value." Pay the difference in the appraised value and the purchase price in cash.   Solution - Assuming the buyer has adequate cash reserves and is willing to pay above appraised value, this will satisfy the lender. Decrease your down payment percentage to apply toward the appraisal gap.   It may trigger mortgage insurance which will increase your paym...

Whew! It's been a chilly May, but the local real estate market is just warming up! Haha! Seriously, the demand is there, and sellers are not yet in the game. Next month is traditionally one of the biggest months of the year to sell a home for top dollar, and this year is no exception!     Below I have this month's Market Report for San Diego County, and below that previous month's reports, so you can make your own comparison. I believe that as Summer arrives, so will a normal hot real estate market.  So, whether you're considering buying or selling, give me a call so we can talk about your realistic options in our unique housing market.    If you know anyone who might be interested in receiving this market update every month, please have them sign up at this  link.   May - Ponder this  - “The bad news is time flies. The good news is you’re the pilot.” — Michael Altshuler What  are you doing with your time these days?    I am al...

    May 2023 Hope & Hope Ann,   Want to beat the high interest rate racket when it comes to getting a mortgage? Make sure you have a great credit score!    Want to be happier? Spend some time doing outdoor home improvement this summer.   This month's eNewsletter is full of good advice. Please enjoy it!    May - Ponder this  - “The bad news is time flies. The good news is you’re the pilot.” — Michael Altshuler What  are you doing with your time these days?    As always, I am here for you, your family, and friends.   Hope Leitner, CRS, CalDRE #01874321 Hope Opens Doors   Berkshire Hathaway HomeServices, California Properties Christie D. Horn and Associates 3790 Via de la Valle, Suite 201, Del Mar, CA 92014 Cell: (858) 382-3763 Website: HopeLeitner.com Email Hope       HOME IMPROVEMENT, HOME SELLERS, CURB APPEAL, TRANSACTION ADVICE   Does Outdoor Improvement Bring Happiness?   Would you be happier if your o...

Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot.   The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago. "Inventory levels are still at historic lows, and consequently, multiple offers are returning on 28% of properties." According to Lawrence Yun, Chief Economist for the National Association of REALTORS�. It is still important to have a strategy for potentially competing with other buyers on the house you want to buy.   The plan should include several available provisions and options, so that at the time of drafting the sales offer, you can consider exactly what to include based on the situation. Unless a person is paying cash, you need to be pre-approved by a trusted mortgage professional long before you start looking at homes.   Include the written pre-approval letter along with the offer...

Builders of new homes offer or are required to warrant their work for a specified period.  Municipal inspections are generally required during different stages to "ensure the life, health, safety, and welfare of the public" but even if something is missed, the ultimate responsibility for building to code belongs to the builder, even if the municipal inspector misses something. There are four basic stages of residential construction including: The foundation stage begins with excavation, footings, foundation walls or slab, waterproofing, backfill, compaction and underground rough plumbing and electricity.   Municipal inspections are done prior to pouring the foundation while items are visible. The framing stage includes the wood or steel framing, exterior walls and roof sheathing, exterior trim and siding, windows, doors, and roofing.  Depending on the municipality, there could be inspections of the rough framing separate from the roofing.  ...

  Goodness! How is summer just around the corner?? High season for moving is here! The market demand is up, way up! It's going to be a busy summer in the San Diego real estate market!    On the calendar below are so many great events.  Gator by the Bay is always great fun with lots of dancing and great food! The highlight for me is the annual Fringe Festival - an artistic feast for everyone!   If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this  link.   May - Ponder this  - “The bad news is time flies. The good news is you’re the pilot.” — Michael Altshuler.   What are you doing with your time these days? Work is work. Rest is rest. Play is play. Do you have a good balance of the three?   Remember, I am always here for my clients and their friends and family.   Hope Leitner, Realtor®, CRS   HOPE OPENS DOORS    

Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up.   Contrarily, when home sales decrease, demand could lessen and prices moderate.   There is opportunity with higher rates because it affects sales and demand, which in turn keeps prices in check.   By waiting for rates to come down, and no one knows by how much but certainly not to the 3-4% range, buyers' pent-up demand will affect the already low supply and cause prices to increase. Let's look at a scenario where you could buy a home today for $400,000 with a 90% loan at 6.5% for 30-years with P&I payments of $2,275.44.   If interest rates drop to 5.5% in one year but in that same period, the price goes up by 10%, the price would be $440,000 with a 90% loan at 5.5% for 30-years with P...