Archive for October, 2007
October 29, 2007
Be a Real Estate Millionaire!
Here is your big opportunity. I was saving this for the holidays but with the market slump and the local fires lowering spirits among my readers, I’ve decided that you deserve this now. Check the blurb for my new book:
Your Turn to be a Real Estate Millionaire
by Tom Q Swell
You too can be a real estate millionaire with the secrets in this book. No need to have any experience, no money down, no credit restrictions, no education, no intelligence! Anyone can do it!
Step-by-step instructions assure that you CAN NOT FAIL, you will be a Millionaire . . .
Doesn’t that excite the spirit that got you surfing the net here in the first place? Remember how it began… That’s right, you were going to make a bundle of dough! Here’s your big opportunity. My price for this book, when it becomes available, will be $39.95. It’s not that I need the money–I’m a real estate GURU, it’s only so that I know you will appreciate the value of your purchase.
On the off chance that you can’t wait for my book; here are the top selling books on real estate, according to Amazon.com: Top 10 Real Estate Books (10/15/07)
1. Be a Real Estate Millionaire: Secret Strategies for Lifetime Wealth Today, By Dean Graziosi
2. The Pre-Foreclosure Property Investor’s Kit: How to Make Money Buying Distressed Real Estate Before the Public Auction, By Thomas Lucier
3. Rich Dad’s Advisors: The ABC’s of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss, By Ken McElroy
4. The Foreclosures.com Guide to Making Huge Profits Investing in Pre-Foreclosures Without Selling Your Soul, By Alexis McGee
5. Flipping Confidential: The Secrets of Renovating Property for Profit in Any Market, By Kirsten Kemp
6. Real Estate Investing for Dummies, By Eric Tyson and Robert S. Griswold
7. Flipping Houses for Dummies, By Ralph R. Roberts and Joe Kraynak
8. Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn 7 Days (Investing Without Losing series), By Don Sausa
9. Rich Dad’s Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors, By Sharon L. Lechter and Garrett Sutton
10. Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth, By Larry B. Loftis
Soooo, what do these books have in common? Could it be the smell of money? Could it be the fantasy of EASY money? Could it be the American Dream of making lots of money without any particular desire to offer anything of value in return? Well then, you’re the person who needs my book! By simply manipulating paper, contracts, and a bit of wheeling and dealing you will find money pouring into your coffers while you hardly lift a finger! I explain where to find the most desperate sellers and how to put the screws to them until they will sign whatever deal you like. I explain how to hypnotize buyers with your ‘upgraded’ properties and pry the maximum price from them. I explain when the timing is perfect. Everything is crystal clear, all you do is follow the step-by-step pictorial instructions.
Look for
“Your Turn to be a Real Estate Millionaire”
coming soon!
October 27, 2007
Condominiums moving slowly, but moving
These prices should be attractive to the first time buyer, if only the banks weren’t so finicky. Corporate greed put naive buyers in jeopardy and now the buyers again pay the price as lenders swing the other way, excluding all but the most creditworthy.
3635 Grove St #264, Lemon Grove 91945
Part of a large complex, lots of buying & selling, near city center.
| address |
bed |
bath |
Sq.Ft. |
sold |
price |
comment |
3635 Grove St #264, LG
|
1 |
1 |
767 |
08/24 |
$157k |
sold 2005 for $248k, see above |
8182 Lemon Grove Wy #D, LG
|
2 |
1 |
742 |
09/06 |
$142k |
built ‘91, sold 5 times in 7 yrs |
| 2263 Kings View Cir, SV |
2 |
2.5 |
1,020 |
09/28 |
$232k |
many more available here |
| 2009 Terracina Cir, SV |
3 |
1.5 |
1,125 |
09/20 |
$279k |
built 1973, sold in ‘05 for $355k |
| 2037 Crofton St, SV |
3 |
2.5 |
1,347 |
10/10 |
$284k |
more available here, see below |
2037 Crofton St, Spring Valley 91977
Built in 1973, this is one of many on the market in this small cluster.
So it goes. The buyers of homes are just puppets to be played with by the powerful entrenched forces of industry. They: the banks, the developers, the insurance companies, the buyers and sellers of mortgage paper, the Realtors, the credit reporting agencies … they have the law in their pocket, the fine print on their side, and the home buyer has nothing but fragile dreams to hang on to. Redfin is part of the answer, empowering buyers with information previously unavailable and giving a fair service for a fair price.
[data from generally reliable sources, please comment on any errors!]
October 27, 2007
I can’t believe it…it’s raining at my house! Ok, not a lot, but it is raining. With all the forecasters saying no rain in the near future for San Diego, the heat and soot everywhere…then my “where is Mother Nature” post…
Well, all I have to say is I am practically speechless and tremendously humbled…thank God for small miracles!
October 27, 2007
I don’t typically consider myself a spiritual person. My belief system is in a constant state of flux, based on an accumulation of life experiences. This week’s wild fires have left us all in a state of disbelief. It’s very difficult to make sense of it all. On the one hand, I am completely reassured by the grace of humanity; our enormous adaptability, resiliance and compassion. On the other, I am at a total loss to understand why mother nature is not helping. Oh, I know weather patterns and whatnot. But part of me is yelling at the heavens…”send down the rain!!”
It seems to me there will not be assistance from higher powers than we anytime in the near future. Our spiritual support comes from eachother. We will rally around both strangers and friends to help in small ways to make great differences. I am starting to hear some rumblings of blame towards government officials and disaster relief for things they may or may not have done; whether or not it was done as quickly and efficiently as it could have been. I am disturbed by that and my patience for those insinuating fault is very short. My observations are of a community that reacted very quickly and with the utmost empathy and organization. The image of the clowns entertaining children at Qualcomm will forever be with me. The beauty of a smiling child amidst all the fear and confusion of being pulled from their homes is a small miracle in my book. That is where my belief shines bright…thank God for touching the hearts of those souls who care enough to bring joy to others in the face of disaster.
October 26, 2007
Listings for this weekend:
Let’s hope the fires have finished their wrath and submit to our heroic firefighters soon. Meanwhile here is some food for thought for your weekend…
1205 La Cresta Blvd., El Cajon 92021 (Crest)
An old listing originally $610k, built 1977, $302/sq.ft, nice back yard with waterfall.
| address |
day |
bed/ba |
Sq.Ft. |
price |
comment |
| 1205 La Cresta Blvd, EC |
Sat |
4/3 |
1,920 |
$580k |
listed 260 days, see above |
| 15935 Spring Oaks Rd. #216, EC |
Sun |
3/2 |
2,020 |
$199k |
$99/sq.ft(!), HOA $733/mo |
| 624 Galopago St, SV |
Sa/Su |
3/1 |
1,134 |
$269k |
built 1962, Redfin Savings $5,070 |
3693 Avocado Villag Ct 197, LM
|
Sat |
2/1.25 |
1,012 |
$295k |
listed 118 days, HOA $200/mo |
| 4345 Macronald Dr, SV |
Sun |
4/3.5 |
2,277 |
$649k |
listed 94 days, $285/sq.ft, pool |
| 3526 Bentley Dr, SV |
Sun |
4/3 |
2,164 |
$535k |
built 1958, $247/sq.ft, -below |
3526 Bentley Dr., Spring Valley 91977
Almost new listing offering style atop Hartzel’s Hill, a peaceful neighborhood where Spring Valley meets La Mesa.
Has your property listing been overlooked in this column? Tell me where your open house is advertised and it may be included. We cover Craigslist, Backpage and OpenHouse.com for most of our featured open houses.
[data from generally reliable sources, please comment on any errors!]
October 25, 2007
Economists have been voicing their predictions for the real estate market. In the midst of yesterday’s report of an 8% decline in home sales last month, Lawrence Yun believes prices will decline 1.5% this year and many economists said “the problems in housing could well last for another year.” This is important because people will be buying and this gives us a good snapshot of the window of opportunity. It is also extremely helpful in gauging offers and anticipating where your purchase point should be.
While the window sounds about right to me, I think the 1.5% prediction is extremely conservative. Ironically, though, my sense is that this week’s wild fires will have a positive effect on the local economy and roll over into the real estate market as the re-building effort gets underway. But the point remains the same, if you’re looking to buy in the next year you need to factor for future losses. Some losses will be built-in by the seller so, again, I say this is a complicated market and you have to do your homework. It’s all about finding the right price point so you will not sustain immediate depreciation and still leave a healthy margin for future appreciation. The shorter the term you intend to hold a property, the more aggressive your approach will need to be.
October 24, 2007
Is it safe to buy a home in San Diego East County?
I’d like to begin with praise for the firefighters, police and thousands of volunteers who have made the best of a bad situation for our county. My heart goes out to the thousands of displaced and homeless. This is a difficult time for all of us, but I’d like to focus today on what prospective home buyers can do to avoid inherent dangers in certain homes.
We recently discussed the land slides on Mount Soledad in La Jolla and some of the things a home buyer can do to evaluate the safety of a property. That was a short time ago, but we need to take another look in light of the raging fires in Southern California.
The first thing to do is look for the obvious. If the property is at the top, bottom or middle of a steep incline you have to wonder if landslides are a danger. If the property is surrounded by flammable materials or above a dry canyon you have to consider fire danger. A property in a riverbed with a looming dam above it could be threatened by floods. Coastal cliff properties can be expected to drop into the ocean eventually. All this is obvious to the thoughtful buyer and much of it can be mitigated with good professional advice.
In between the preliminary look for obvious safety problems and seeking expensive professional advice, you want to find authoritative information that is convenient and free. You want to consider some of the less visible safety threats as well. There is so much to consider on the safety front including the human factor- is this a high crime area, are there sexual predators nearby? What are the resources available?
Fire - Best bet is SanGIS & LAFCO (below) for general info about your area of interest. The CDF site is not too informative to home buyers, but a visit or call might get better information.
Landslide/earthquake - Here is a list of maps for local communities. And a list of earthquake faults in California. At USGS you can make a custom map showing earthquake faults (see left, not much detail), waterbodies & dams, and other features. Overall I have found it very difficult to get accurate, convenient information about fault lines, and yet disclosure requires it.
Flood - FEMA is a good place to start. SanGIS interactive maps are OK when they work. USGS (above) might be helpful. All mapping sites require patience on your first visit.
A FEMA flood zone map
Crime - Nature isn’t the only safety concern. ARGIS is your main source of local data with a wealth of information. Ten most wanted, sex offenders and crime incidents for a very specific area can be displayed. Data covers incorporated suburbs but does not extend to rural areas. City-Data offers a wealth of info on most communities including the number of sex offenders.
General resources - These are secondary sources for useful information. SanGIS has an extensive map library including maps from many agencies. LAFCO is another source for this kind of information. You can see the boundaries of local fire & water districts, you can study the damage from the previous Cedar & Paradise fires, you can see groundwater limitations for rural areas and a lot more. You can learn about the County General Plan, Community Planning Groups and Multiple Species Conservation Program (MSCP) zones in the area. All of this is helpful in your evaluation of a property. While you’re at it, remember that when you view a property from a Redfin page, you will find links to a great deal of demographic information ‘Community Overview’ and ‘Area Schools’.
General safety planning - Study local roads for evacuation problems. Will they be able to handle the traffic of an urgent evacuation? Will they be viable during a flood or heavy smoke or landslide? Will emergency vehicles be able to reach the home you want to buy? How far is the nearest hospital, fire/police station? Other infrastructure considerations include water, electric, other utilities- will they be threatened by fire, landslide or flood? Will your nearby cell tower survive?
Animals - If you have pets, plan to have horses or farm animals, you need to consider whether the location you choose will support their safety in an emergency. Will you be able to transport them on short notice to a safe area?
Safe Area - Where is the nearest ’safe area’? A school, stadium, or other public facility should be designated. Do they allow animals? Can they handle a large volume of communication and other needs? How will you reach it (what route) from the property you want to buy?
Finally you can ask about insurance. You will find that most companies will not insure against ‘geological activity’ but you may be able to get earthquake insurance. Fire or flood insurance may be very expensive for certain properties. This is a valuable clue- the price and availability of insurance is a good hint of the risk. If it’s very expensive, there is probably a high risk. You just got a free risk analysis!
Don’t be afraid to buy in East County. Be smart. Best wishes!
October 24, 2007
Probate Sale and Priced Below $300/Square Foot
4384 Bancroft Street. 3 beds, 1.5 baths with granny unit. $248 per square foot. On Redfin 102+ days.
Motivated Seller and Low Price Per Square Foot
2333 Howard Avenue. 3 beds, 2 baths. $267 per square foot. On Redfin 36+ days.
Recently Reduced and Short Sale
4173 1/2 Mississippi Street. 2 beds, 1 bath. $303 per square foot. On Redfin 85+ days.
October 23, 2007
4060 Vermont Street - $379,900
2 beds, 2 baths. $458 per square foot. On Redfin 1+ day. Bank owned foreclosure.
127 Lewis Street - $351,900
1 bed, 1 bath. $785 per square foot. On Redfin 60+ days. Bank owned foreclosure.
3963 33rd Avenue - $369,000
2 beds, 1 bath. $396 per square foot. On Redfin 1+day. Aggressive pricing.
October 22, 2007
It is too somber a day to write, let alone with any levity. I know I speak for all of us at Redfin, especially our San Diego team, when I say how devastated we are for what will surmount to many many losses in our region this week.
Homes of our friends, families and loved ones are burning even now and evacuations are touching all aspects of our lives. We watch in horror as the fire spreads and our thoughts and prayers are with our entire community.
We pray the containment comes with a rapid approach and that the men and women of fire protection, the Red Cross, Emergency Management Services and the like return safely home to their families as well.
