home – Page 2 – Purchase, refinance, renovation, reverse, Downpayment assistance, VA, FHA

Photo Credit: Evolve Vacation Rental Network

#1 – Which San Diego Neighborhood is Right for You?

From Hipster communities, to Business Districts, San Diego has so many unique neighborhoods to choose from. You should carefully consider these communities based on affordability, availability, and just what fits with your lifestyle. Ocean Beach, La Mesa, Mission Valley, North Park each have their own unique personality. Check out our last blog: Neighborhoods in San Diego for help with making your decision.

#2 – Have You Considered Cost of Living?

Right now, San Diego is the 13th most expensive city in America, according to USA Today. In the world, we’re 40th most expensive city. Not to be a Killjoy, but when it comes to money, too many of us consider salary without considering the cost of living. A high cost of living can drastically reduce the effectiveness of your income, and reduce your long-term wealth. Before purchasing a home in San Diego, make sure that your foreseeable day-to-day expenses are manageable.

#3- Do You Have a Mortgage Approval?

Required by the California Purchase Agreement, buyers need to obtain a mortgage approval. Before you go shopping for that great property, get a preapproval letter from a reputable mortgage company or brank. Contact me if you need help with this. It’s important to verify exactly what you can afford rather than waste your time searching for a home that is over your budget.

#4- Higher Loan Limits in 2019

As you’ve probably heard, borrowers in San Diego will enjoy higher loan limits this year. Federal housing officials have increased the loan limits for FHA, VA, and conventional mortgage loans. This means San Diego home buyers could have more properties to choose from without venturing into jumbo mortgage territory. As of January 1st, Fannie Mae and Freddie Mac loan limits have increased to $453,100 to $485,350 for a single-family home purchase.

#5 – Transportation

If you don’t own a car, or if you just like to take public transportation to sporting events and giant beach festivals, you might want to consider whether there are bus stops or a trolley station nearby. The San Diego Trolley is a great option for getting around the city quickly and avoiding traffic. You’ll also want to consider traffic near your area, especially during rush hours, and whether an Uber or Lyft driver can get to your area without trouble.

#6 – The San Diego Real Estate Market is Competitive

Although sellers have an advantage, San Diego real estate market is competitive for buyers. In a San Diego seller’s market, it’s important that as a buyer, you are realistic about how assertive and responsive you need to be in order to get the house you want. Sleeping on an offer overnight might not be an option this year.

#7 – Have You Chosen a Buyer’s Agent?

In such a heated seller’s environment, an experienced buyer’s agent, who knows this city, can give you that competitive edge. Hire a BA who’s an expert negotiator. It can make all the difference between getting your offer accepted, or losing out to another buyer and having to start again.

#8 – Demand is Higher at the lower end of the spectrum

In San Diego, the local real estate market is particular active at the lower end of the spectrum. By comparison, pricier properties are taking much longer to sell. If you’re buying a comparatively low-priced home in San Diego in 2019, you should be prepared for competition. This is because there is more demand in the “starter home” price range.

In fact, the fastest homes to sell fall between the $250-$500,000 range. If you’re looking for a property in this price range, jump quickly, and save yourself the frustration of losing out to other buyers.

#9 – Increasing Your Low Credit Rating

When it comes to improving your credit, there really is no time to waste. A low credit score may not seem like a big deal until it’s time to leverage your credit for a mortgage. Increasing your low credit rating will help you qualify for a higher-priced home, at a lower interest rate, making it more likely to purchase your dream home.

#10 – Setting Your Expectations and Formulating Your Plan

To recap, homebuyers interested in the San Diego market, are buying into one of the hottest real estate markets in the country. Therefore, it is important that you become informed prior to your search. Hiring help is always a great idea. Contact me so that I can help you set your expectations, formulate a plan, and ace this process, to make the most of your efforts.

Uncategorized

7 San Diego Neighborhoods That Are Quirky, Interesting, Vibrant, and Fun!

December 20, 2018December 20, 2018 loansbyjoanna

Although San Diego is known for its sun, surf, and beachfront vibes, the city has so much more to offer. San Diego is one of the most diverse counties in the United States, and each neighborhood gives off it’s own vibe. Some hoods cater to artists, some to foodies, some to nightlife enthusiasts, and some still to those who love their boardwalks and board shorts. If you’re looking to buy a residence, there are so many places to choose from. Whatever your preference, here are seven of the most exciting neighborhoods for those looking to reside in San Diego.

#1 – Encinitas

Encinitas, a city of over 61, 000 residents with a small town feel is a great neighborhood if you detest plastic, and drive a Prius. Streets are wide, the residents are extremely passionate about green living, and there are no power lines visible anywhere. It’s a best of both worlds situation here. Encinitas is a laid back beach community, however, the further east you go, the quirkier the neighborhood. The closer you get to the ocean, the higher the price. Cardiff-by-the-Sea and Leucadia are both very popular beach communities within Encinitas, and each have their own personal flair and feel. Cardiff houses the infamous Cardiff Kook statue and Leucadia’s motto is “Keep Leucadia Funky.”

#2 – North Park

Southeast of downtown and bordering Balboa Park, you’ll find the diverse and eclectic uptown neighborhood of North Park. The lively streets here are stocked with locals, and lined with coffee shops, boutiques, art galleries, amazing restaurants, and craft beer pubs. The epicenter of the neighborhood is the intersection of University Avenue and 30th Street, which holds claim to being “the best beer neighborhood in the nation. The hipsters in this neighborhood know their food and drinks, and consequently, the neighborhood homes some of the best restaurants and bars in San Diego. The homes in this area are cute but surprising large, and don’t be surprised if your neighbors actually want to get to know you!

#3 – South Park

What South Park may lack in size, it makes up for with a tight-knit community of small indie businesses and events, like the South Park Walkabout, where local shops and restaurants open late and offer special deals and bites. This neighborhood, very close to North Park, pulses with shops, entertainment, and art blocks. The petite neighborhood manages to keep its cool factor high with eclectic shops and restaurants. Craft beer is also celebrated here at bars like Hamilton’s Tavern, consistently rated “best beer bar” on the West Coast, and the family friendly Station Tavern where burgers and beer are served in an old trolley station. The petite homes are some of the most adorable in the county and have a sort of old-fashioned comfy feel to them.

#4 – Carlsbad

Located in scenic North County, and known as “The Village by the Sea,” Carlsbad was named after a famous spa in Karlsbad, Bohemia. This quaint city has beautiful beaches, three unique lagoons, lots of shopping areas, and gorgeous golf courses. It also boasts the LEGOLAND® theme park, and the Flower Fields of Carlsbad Ranch that sports 50 acres of spectacular blooming flowers every spring. With new, widened, buffered bike lanes, more roundabouts, and community walkabouts and bikeabaouts around the village, Barrio, and beach areas; the idea being, to convince people to leave the car at home for errands and recreation.

#5 – Ocean Beach

Ocean Beach, often referred to as OB, is called the city where lifestyle is frozen in time, in fact, you’re more likely to see a co-op then a large chain here, and is definitely a place for the free spirited. This funky seaside town is one of San Diego’s best beach communities. It is laid back and less rowdy than it’s south neighboring neighborhoods of Mission Beach and Pacific Beach. Still, it is a great place to surf or sunbathe. OB sits on prime waterfront real estate, but the neighborhood exudes a small-town atmosphere. Where other beach communities have embraced commercialism, this town remains fiercely independent and skeptical of corporate change. The residents of OB call themselves “OBceans,” and are an extremely tight-knit community.

#6 – San Marcos

Home to award-winning San Elijo Hills and breathtaking lake, San Marcos is the leader in providing housing with a wide range of prices and designs, while being a community that takes environmental awareness to heart. The residents work hard to preserve the San Marcos Creek, ridgelines and sensitive habitat. It actively participates in state, federal and regional conservation programs as well as progressive local air and water quality programs. San Marcos is an excellent urban-rural setting with small town informality, plus easy access to San Diego city, southern Riverside and even Orange County.

#7 – Little Italy

Little Italy is a place where past meets present and is one of the more vibrant neighborhoods in the city. Once home to San Diego’s flourishing tuna fishing industry and generations of Italian families who made their living on the sea, Little Italy is now a lively neighborhood filled with patio cafés, fantastic restaurants, craft brew stops, urban wineries, art galleries, sophisticated shops, boutique hotels and the beautiful Amici Park. It’s not unusual to stroll through this walker-friendly neighborhood and be greeted with a smile and a “saluto” or “ciao bella” by a stranger. The residents here seem to believe that they are in Italy, instead of just a few minutes away from downtown San Diego, and trust us, when you’re here, you will too.

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A Short Review

December 5, 2018December 5, 2018 loansbyjoanna

Hi everyone!

Here is a review of our last brochure. We have a featured city, featured listing, featured loan, and a charity highlight below. Leave a comment and let me know what you think!

Featured City – Sunset Cliffs, CA

Screen Shot 2018-12-05 at 12.57.03 PM.png With its rugged coastline and panoramic views, this area is popular with surfers, ocean-gazers, and folks who like to cruise Sunset Cliffs Boulevard, which runs the length of the cliffs. The drive along Sunset Cliffs Boulevard, which begins at Adair Street and continues south to Ladera Street, offers breathtaking views and the most amazing sunsets that you will ever see.

Featured Listing

710 Cordova St., San Diego, CA 921017 | $2,999,000

Screen Shot 2018-12-05 at 1.32.30 PM.png Instant Equity for the ONLY property along Sunset Cliffs with a PRIVATE outdoor living space capturing views to the Coronado Islands. Recently appraised for $3.2M! This 5BR/5BA ranch-style home, overlooking Sunset Cliffs Natural Park & iconic surf breaks, has panoramic, up-close, ocean views from every room.

Featured Loan- Interest Only Mortgages

Screen Shot 2018-12-05 at 2.49.30 PM.png DESCRIPTION:
The borrower only pays the intrerest on the mortgage through monthly payments for a term that is fixed on an interest only mortgage loan. The term is usually between 5 and 7 years.

After the term is over, many refinance their homes, make a lump sum payment, or they begin paying off the principal of the loan.

PROS:
-Monthly payments are low during the term.

-The borrower can purchase a larger home later by qualifying for a larger loan amount.

-Placing extra money into investments to build net worth.

CONS:
Rising mortgage rates increases risk if it’s an ARM.

-Many people spend extra money instead of investing it.

-The home may not appreciate as fast as the borrower would like.

November Charity Highlight

Family is the main focus of the Nice Guys. The majority of money we raise goes to help families who have somehow “fallen through the cracks.” A medicalbill, a car repair, clothes needed after a house fire, a wheelchair for a young man injured while being a Good Samaritan – this is the type of assistance offered by the Nice Guys. Our goal is always to get people back on their feet and to be, once again, self sufficient. | Donate Here

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Five Golden Keys… to Purchasing a Second Home

November 24, 2018November 24, 2018 loansbyjoanna

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It’s hard to believe that the Holidays are already upon us. I know that buying a home right now is one of the furthest things on many of our minds right now. We’re thinking instead about Christmas gifts, decorating the house to get it ready for company, and not breaking the bank. I’m here to tell you that although mortgage rates are rising, they are still historically low, making this a great time to think about buying a second home. To make sure that your end-of-the-year-home-shopping a smooth process, instead of added Holiday stress, I’ve put together some key steps for you to follow:

1. Find an Agent (Who Knows the Area)

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The best way to start the search for a second home is to hire a proper professional, and one who is familiar with your desired location. The necessary steps in the real estate process change over the years, so you might as well have someone on your side who’s well-versed in the nuances and can help ensure you get the best possible deal.

You always have the option to purchase a home without an agent’s help or put your house on the market as for sale by owner, however, if you’re not familiar with the buying or selling process, you may skip over necessary steps. An agent could provide you information about neighborhoods, market prices, and the pros and cons of particular properties. With their eye for the long-term value of a property, the agent could fill you in on price histories and how comparable sales have fared, as well as resale prospects.

As you may have found in purchasing your first home, agent services vary depending on the area you live in, price point, experience and availability of the agent and your ability to communicate your needs. While some agents will only help you get from point A to point B when finding and purchasing a house, others will attend inspections, tidy up the house in question, or even facilitate your entire move.

#2 – Determine Whether You Can Afford Two Mortgages

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First off, you have to qualify for a second-home mortgage, which will be an addition to any mortgage debt on your primary home. When you’re buying a home, mortgage lenders don’t look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating.

You will need to make a down payment of at least ten to twenty percent, meet credit standards and debt-to-income requirements, and provide documents for income and asset verification. If you have a good relationship with the mortgage lender on your first home, that may be a good place to start in your quest for a second-home mortgage.

You can use a loan qualification calculator to check mortgage rates in your area. Also, if you are thinking of tapping into your home equity you have built up on your primary residence to help pay for the second home, keep in mind that if you need that equity for an emergency, you may not be able to access it.

#3 – Factor in All Costs

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With trends like it is today, many second-home buyers are more interested in enjoying their property rather than simply obtaining a quick return on their investment. It’s important that you consider that you may still be away from the property a lot of the time, which usually entails additional costs, such as having a management company check the place in your absence for water leaks, frozen pipes or other problems.

Getting insurance for a second home may be more challenging than it is for a primary residence. This is because there are taxes that come with owning a second mortgage, and costs that will only apply to your second home.

You should factor in costs that you may not have had to worry about with your first home. For example, if you are considering a second home on the beach, you’ll need flood insurance, in addition to regular home insurance. It has become more difficult to get flood insurance in coastal communities, and the cost has increased exponentially in some markets.

#4 – Consider Taxes and Tax Implications

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You may want to forget about deducting mortgage interest on a second home. If the home you were planning to buy is a vacation home, tax reform means you’ll pay more for your getaway.

While you could previously deduct mortgage interest on a second home as well as on a primary home — as long as your combined mortgages were under the $1 million cap — this is no longer permitted under the new rules.

The Tax Cuts And Jobs Act caps to the mortgage interest deduction at $750,000. So if you already have a $750,000 mortgage and get a loan for a vacation home, you won’t be able to deduct the interest on the second mortgage. If you rent out your second home, you will have to consider additional tax ramifications, particularly if the rental period extends beyond 14 days a year.

The ban on deducting interest on a mortgage for a vacation home affects only new purchases, so if you already have a vacation home, you may want to hang onto it.

#5 – Consider Your Goals

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Whether you’re considering buying a second home to rent out, to move to and rent your old home, or what have you, there are some great benefits.

For one, you can sell your investment home and use the proceeds to buy another rental property without paying a capital gains tax. A rental property is a long-term investment, you could pay the mortgage with the rent income each month and pay off the mortgage without spending any of your own money. You will still be able to write-off the interest paid on your second home which is a huge plus.

When you’re ready to purchase a home, it may be beneficial to write out the goals you have for you and your family. Determine whether the second home will be a vacation home for you and your family, an emergency or guest home, or an additional income and for what purposes.

Know that writing down your goals isn’t the challenge. After all, with a word processing system, your laptop or even just pencil and paper, you can write down all the goals you like. The trick is coming up with effective goals you can realistically accomplish. Write down your needs (an adequate credit score, a substantial down payment and gross income that leaves enough for the house payment, etc.) and how you plan on going about fulfilling those needs.

I hope that all of this was helpful. If you have any questions or concerns, leave a reply below, as I’m always here to help.

DIY, Uncategorized

11 No-Carve Pumpkin Decorating Ideas

October 25, 2018October 25, 2018 loansbyjoanna

11nocarve

Many people buy and decorate pumpkins for the fall season. Some carve them, others leave them sitting on their porch steps untouched until they rot, and creative souls (with the new addition of you and I) show their creativity by decorating their homes with unique, no-carve pumpkin art.

I have to admit, over the past few years we haven’t carved many pumpkins, but we have decorated our porch with giant pumpkins in all of their natural orange beauty. This year, after seeing these no carve pumpkin decorating ideas, color me inspired! I hope some of these ideas give you a bit of Autumn inspiration as well.

#1 – Use Crayons to Make a Melted Crayon Pumpkin

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Do you have a bunch of broken crayons at home? Well, this slight twist on melted crayon wall art is fun for the whole family and creates a really neat effect. For even less mess, do it upside down. Find a jar, place your mini pumpkin upside down with the stem inside the jar, place some crayons on top of your pumpkin, and use a hair-dryer to melt your crayons!

#2 – Turn Your Pumpkin into a Cute Party Cooler

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This idea is sure to impress at your Fall get-together. Just choose a large, wide pumpkin, cut off the top third with a serrated knife and scrape out the pulp and seeds. Line the gourd with a glass or plastic bowl to prevent it from becoming water-logged. If the pumpkin opening is a bit too small for the bowl, carefully shave the inside edge with a spoon. Finish by filling the bowl with ice and wine, beer, or bottled drinks.

#3 – Decorate Your Pumpkin with Gems, Glitter, and/or Paint

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Simple, and sure to immediately add class to any pumpkin project, is this art deco idea. To make it kid-friendly (as opposed to a huge glittery mess on your new hardwood floors), paint the pumpkin yourself. When it dries, let the kiddos decorate it with colorful gems, stencils and spray paint, fake jewels, ribbon, seashells, and lace. The more you trust your kids, the smaller the decorations you give them. If you have toddlers, large bowtie macaroni should do the trick.

#4 – Use Your Pumpkin as a Succulent Holder

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If you’re anything like me, natural elements in the home have the ability to put you in a state of relaxation. Dazzle your guests with a fall centerpiece featuring a pumpkin topped with succulents. As a (tiny) shortcut, you can plant the succulents in a normal pot and set it inside your real (or faux pumpkin) and then you don’t have to worry about re-potting down the road! It’ll be so nice to have a seasonal succulent centerpiece that will last through Thanksgiving, and they aren’t too difficult to make.

#5 – Be Your Pumpkin’s Fairy Godmother

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You don’t need a fairy godmother to turn a pumpkin into a carriage. All you need is a pumpkin, a furry toy animal, and a quick trip to Michael’s or Hobby lobby and you can make the rules. This artist used clay for the door, but you can just as easily use small barbie princess parts. Just spray them with gold paint. If you have extra time, hollow out the pumpkin, place a candle inside, and cover the hole with a door. For extra fantasy points, make a curly-cue stem out of Papier-mâché.

#6 – Create Fake Food Out of Your Pumpkin

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Using acrylic paints, turn your pumpkin into something everyone will want to eat. You can use any tool you like to paint: paintbrushes, cotton swabs, sponges, or cotton balls. Keep a damp cloth at your side to quickly clean off any mistakes. Pretend that you’re just painting an ordinary canvas. *For the popcorn bucket, add a plastic bowl and fill the bucket with real pumpkin spice topped popcorn to wow your guests.

#7 – Fill Your Pumpkin With Real Food

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Pumpkin stew, pumpkin casserole, pumpkin creme brûlée…the possibilities are endless! My favorite idea happens to be individual “Pumpkin Mac&Cheese” inside of adorable mini pumpkins. For kids parties you can even fill the pumpkins with trail mix, potato chips, pumpkin seeds, or Holiday candy.

#8 – Let Your Pumpkins Convey Your True Feelings

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Everybody loves emoticons, and experts say that a well-placed emoji has the ability to change a recipient’s mood. These pumpkins are a must-try. Spray-paint your pumpkin yellow, or keep it the original orange, and either paint faces, *or keep sticky pieces of felt in a bowl and change your emoji’s mood daily.

If you use mini pumpkins, you can line a small window sill with these little fellas and be the talk of the neighborhood.

#9 – Make Beautiful Fall Centerpieces

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Pumpkin centerpieces will be your inspiration this Autumn. You can make pumpkin flower vases, pumpkin trees, or stick candles in your pumpkin to create a large candle holder. Then, add some lose pumpkins, squash, and other Fall veggies for a breathtaking dinner or reception table. Add some cranberry vines, pine boughs, or cones for a contrast. If you’re planning on hosting more than one Fall get-together, there are limitless possibilities to decorate all the tables in your home.

#10 – Do You Wanna Build a Snowman?

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Of course you do! Paint your pumpkin white, or just find white pumpkins. Then, all you need to add are a few felt pieces, a scarf, and a top hat to make your neighbors wonder how your snowman hasn’t melted under this California sun. For the kids, and with just a little extra effort, you can even turn your snowman into Olaf (from Disney’s Frozen), BB-8 (from Star Wars), or Jack Skellington (from Tim Burton’s Nightmare Before Christmas).

#11 – Cover Your Pumpkin in Fabric & Gift to a Friend

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Looking for an easy gift that won’t break the bank? Just cover your pumpkin in fabric: lace, tulle, silk, cotton, or any fabric you can find. You can either sew a closing, or leave it raw and add a decorative tie, and that’s it. You have an easy gift that you can give to kids, coworkers, family, and friends.

Hope you’ll give at least one of these ideas a try. And send a photo of whatever you make for a feature on my Instagram Page!😊