March 31, 2008

Listings Lingo - a Real Estate Double Dare

Real estate listings are fun to read.  The most enjoyable are those that are really well done or really, really bad.  I like to look at the pictures and prices, but the words that are used to describe a home can be a kick too.

From time to time we bring you great ideas for writing and developing good listing content.  Not today.  Today is just a peek at real life listings that are bad, misguided, or unappealing.  I don’t have much else to say on the subject.  Take a look.  These ones speak for themselves.

Too Sparse - “Final sale terms subject to short sale lender approval. Buyers/Agents to verify all b4coe.”  I’m serious, that’s all this agent has to say.  No pictures either…none!

Too Repetitive -  ”location, location, location!  Did I mention “location, location, location [?]”  French doors to the private front yard…French doors to the private side yard deck…the one car garage has…a French door….There is a French door to a breezy balcony…and an additional French door to the garage….The second bedroom has a French door….”  Stamped concrete is mentioned three times and suffice it to say it’s abundantly clear this home is quite “breezy.”

Irrelevant - “Not a short sale or REO.”  This house is priced higher than its Zestimate, lower than its eppraisal and is just about on par with its cyberhomes valuation, so why bother stating what it’s not?

Lacking Appeal - “Completely remodeled from the ground up, all new carpeting, paint, lights, bathroom, kitchen with state of the art appliances, new roof, full length covered proch (no, that’s not my typo) off MB with french doors, 200 amp service panel, all new dual paned windows, fully landscaped with sprinkler system, access from street or alley[.]”  Ooh…I’ll be right over!

Too Much Crazy Punctuation - $M ~ @the!!@!180*!/ba ftrs>SUPP ,,, !>>!! ~ & ,,, 1/2 & w/ { ),&!!~.w. & ~-[,!], & !! !!~#2w/ w/ &!! !~@*#3:(&) * . *** w/ **,, mls ,,, &’s , ..!!  I am not making this up!

SCREAMER - “BACK ON THE MARKET AS 03/30/08///S. W. E. O. BETWEEN $385,000-$425,000//ALL OFFERS WILL BE ENTERTAINED///STEPS FROM THE BEACH///GOURMET KITCHEN WITH GRANITE SLAB///STAINLESS STEEL APPLIANCES//CUSTOM MADE CABINETRY///CROWN MOLDING////WIRE FOR SURROUND SOUND IN LIVING ROOM///WASHER/DRYER HOOK UPS IN UNIT/////////BRING US AN OFFER//////ALL REASONABLE OFFER WILL BE ENTERTAINED/////BEST DEAL IN OCEAN BEACH////BUYER TO VERIFY ALL INFORMATION BEFORE CLOSE OF ESCROW. PHOTOS ARE FROM MODEL UNIT///MUST USE BUILDER’S CONTRACT///”

Here’s the dare part:  Listing agents, up for a good humored challenge?  Send us your listings and let us develop some creative content.  Bring us your worst, best or just any plain old listing that you’re struggling with.  We’ll re-write and post it live for free.  The double dare part?  Double or nothing says nobody takes us up on this offer!

Recent San Diego Sweet Digs Posts: 

Open House Countdown 3-29-2008

High Brow, Low Brow - Ocean Beach

People are Staying Home in Droves!

Toys for Boys (and Grit Iron Girls)

Mayhem, the Market and Messy Monsters (What a Whammy)

March 31, 2008

Monday Madness - Eating Lemon Grove, part 3

Travel the Globe in Lemon Grove

The story of food is the story of culture. In humble Lemon Grove you can taste American, Chinese, Mexican, Italian, Japanese and even that strange vegetarian culture. It’s been a couple weeks since our last outing and I know that you’re hungry so let’s return to our explorations.

We finished all the restaurants at Lemon Grove Plaza, home of Albertson’s supermarket. We’ll cross Broadway and then Massachusetts moving East.

• Jack in the Box is one of two in town. I like the Breakfast Jack- cheap, fast and packed with protein. No playground, few children. Good spot for a quick bite.
• Everyone knows Subway for a relatively healthy sandwich.
• El Pollo Grill had grilled chicken long before KFC and it’s delicioso.
• Fruit Palace Express - amazing variety of fruit salad, smoothies, fruit cocktail, sandwiches, snacks & juice.

• At the Smart & Final center are two restaurants. First China Express has a marvelous variety on its affordable menu.
• Sabor is a popular Mexican restaurant in this busy center.
  
• Across the corner is Lido’s Italian restaurant; a hit with families and the local businesspeople.

• Christies Donuts is no more, soon to be resurrected in a new complex at the same location that includes affordable housing.
• It’s a long, hungry walk from Christies to Cotijas. Cotijas is a very old favorite in Lemon Grove at a new location near the GTM store.
• The Grinder is another old standby around the corner from Cotijas on Olive St. Next weekend they are having a special BBQ with homemade sauce and more.
• Finally we’ve made it to the Trolley tracks and the Grove Pastry shop where we’ll find the tastiest desserts. While there we will note the lovely murals on the south wall depicting Lemon Grove history.
  

There’s more history just south of Broadway on Olive St. City hall, the sheriff’s station and two historic buildings, now museums compliments of the Lemon Grove Historical Society. I hope you enjoyed our tour and actually found time to visit and see for yourself. There are lots more restaurants in weeks ahead and we’ll talk about the homes and homeowners who support all these restaurants and historic places.

see also:
Monday Madness - Eating Lemon Grove, part 1
Monday Madness - Eating Lemon Grove, part 2

You can follow my East County blog or here, and Carol’s Hillcrest, North Park and Ocean Beach blog. You’re at Redfin, the unbiased source for local real estate information.

March 28, 2008

Open House Countdown 3-29-2008

Top Ten Reasons NOT to Visit Open Houses

You have more important things to do, don’t you?

1. Wash the cars.
2. Visit the inlaws.
3. Get income tax documents together.
4. Mow the lawn.
5. Take dog for nail trim.
6. Watch reruns of The Simpsons.
7. Begin new fitness regimen.
8. Fix that dripping faucet.
9. Catch up on all the office paperwork.
10. Take the kids for a haircut.

Yes, of course, you’d much rather do those things than snoop around someone else’s house, wouldn’t you!

These cold facts and figures are just that. There’s nothing like going there, seeing, touching and smelling those houses. Indulging in a little fantasy about your possible future. Go ahead, do it!

[data from generally reliable sources, please comment on any errors!]

March 28, 2008

High Brow, Low Brow - Ocean Beach

This is the final post of a three part series dealing with the range of values in the neighborhoods of Hillcrest, North Park and Ocean Beach.  Each of these micro markets are interesting in their own right and for the sake of comparison. 

I am always curious to see the spread between the highest and lowest priced homes on the market.  It says a lot and gives a pretty good picture of the range and value of properties in a region.  Most people shopping a particular neighborhood are most interested in homes that fall somewhere near the middle, so knowing the playing field is critical. 

This week, I am bringing you homes on both ends of the spectrum in each of three popular San Diego neighborhoods and I’ll throw in one or two in the middle so you get the big picture along the entire continuum. On Monday, I covered Hillcrest.  On Wednesday, North Park.  Today I am bringing you Ocean Beach.

Lowest!  5075 Narragansett Avenue #201.  $329,000.  One bedroom, one bath condominium in Ocean Beach.  This home has 550 square feet and is priced at $598 per square foot.  It’s Zestimate is $334,000 and eppraisal is $333,144.  It last sold for $380,000 on November 4, 2004.  On Redfin 102 days.

Tweenie #1  4751 Greene Street.  Two bedroom, three bath single family home in Ocean Beach.  Short sale asking $725,000.  Last sold for $250,000 on October 1, 2004.  This property’s Zestimate is $700,000 and eppraisal is 589,973.  On Redfin 51 days.

Tweenie #2  4649 Del Mar Avenue.  $749,000.  Two bedroom, bath and a half home in Ocean Beach.  It has 907 square feet and is priced at $826 per square foot.  It’s Zestimate is $635,000 and eppraisal is $651,579.  On Redfin 9 days.

Highest!  5173 Brighton Avenue #4.  $1,595,000.  Three bedroom, two bath condominium in Ocean Beach.  This property has 1,950 square feet and is priced at $818 per square foot.  It’s Zestimate is $648,500 and eppraisal is $458,225.  On Redfin 127 days.

If you liked this post you might also enjoy:

High Brow, Low Brow - Hillcrest

High Brow, Low Brow - North Park

I Sure Wish You Hadn’t Done That

March 27, 2008

People are Staying Home in Droves!

Extreme nonmigration strikes San Diego

U-T reporter Lori Weisberg tells us that “thousands fewer people moved out of San Diego County last year”. People still leave coastal California at a greater rate than inbound migration, but less so. The population is still growing but entirely due to births and foreign immigration. The article says that demographers believe this is due to foreclosures, mortgage market turbulence and general nervousness.

Inland areas are especially affected, the article continues. We’ve discussed this before, noting that recent expansion in inland areas (like SD county’s south east) brought recent buyers. It is the most recent buyers who are facing escalating mortgage payments even as their home value drops.

Here in the near east- El Cajon, La Mesa, Lemon Grove and Spring Valley; there are relatively few recent buyers. Many homeowners are well established and are not very concerned about the current troubles. Furthermore these homes did not experience the extreme effects of the ‘boom’ and are not as likely to have severe price degradation. Mid priced properties should be relatively stable- no big discounts for buyers, but some assurance of steady value for the future.

Let’s ponder the slowing exodus as we have a look at recently sold homes in Spring Valley:

2035 Terracina Circle, Spring Valley, CA 91977 was built in 1973 and was sold 9 times since. It has 3 beds, 1.5 baths and 1,125 sq. ft. It peaked at $355k in 2006 and sold for $215k ($191/sq.ft.) a few days ago. Lots of traffic in and out of that 35 year old condo. Where have they all gone?

2065 Hawkins Way, Spring Valley, 91977: 784 sq. ft., 2 beds, 1 bath. Some disagreement here as to be expected with technology. According to Trulia, this house is either sold or unsold and has 784 square feet or 1,950 (the second number happens to be the year built). Redfin thinks it sold in January, the listing agent is still trying to sell it. My guess is that it is a very recent sale, date unknown, and the price was $170k although they were asking only $165k.

(Get used to it- these companies are scrambling to get more and more data out to us faster and faster. Misteaks are inevitable)

3213 Helix Street, Spring Valley, 91977 is another mystery. My own Redfin site shows it as an active listing with 1,488 sq. ft., 2 beds, 2 baths, asking $360k. Farther down the page it shows ’sales history’ where it sold for $188k on March 4, 2008 (which agrees with Trulia). The Redfin listing was modified on March 19, so maybe it is relisted. The technology gods are not always kind and all that data has to be typed by humans.

If you’ve been looking at listings long enough, you get used to some confusion. You can just pick up the phone and probably clarify things in a few minutes with the listing agent. If it’s a house you might want to buy, call your Redfin agent. That last house could save you $7,198 with Redfin.

A final thought: If people aren’t leaving San Diego, and more are moving in from outside the US, and more are being born … where will they live? Do we have enough homes for them all? How do you think this will effect future prices?

March 27, 2008

Toys for Boys (and Grit Iron Girls)

Other Recent San Diego Sweet Digs Posts:

Before I moved back to San Diego, I owned a house in Indiana in a historic neighborhood that was my very own personal rehab project.  It had good bones and a strong foundation, but had been occupied by an amputee and was very badly neglected.  But hey, I was young and eager; willing to tackle the job for the promise of fast appreciation and the satisfaction that comes from sweat equity.  I considered it a labor of love and I thought I would have that 2,700 square foot house completely finished within two years.  Ha!

I will never again take on a project like that but boy did I learn a lot.  I watched home improvement shows until my brain was flooded with good ideas (too many good ideas).  All of my disposable income went right into that house and I tried my hand at everything imaginable.  I did tile, linoleum, paint, trim and moulding, window pane replacement, drywall, plumbing and electrical.  The house was built in 1906 so these were major undertakings and I approached them with iron will, not know how.

The trials and tribulations of renovating an old house is probably a once in a lifetime experience unless you are a professional investor.  I was just a foolish, albeit passionate, home owner looking to transform something of mediocrity into a beautiful jewel.  I also believed I was doing a community service by raising the bar in my neighborhood.  For all that grandiose thinking, I made lots and lots of mistakes along the way.  I agonized over seemingly endless plumbing problems and was quickly inducted into what we called “the surprise of the month club” among my neighbors who also owned turn of the century homes.  I invested in all the gadgets and latest tools, but after 12 years, came to rely on just a few that were tried and true.  So, if you are a first time homebuyer or investor, take my advice.  There are only a few quality tools you will ever need in your pocket.  This is also a great gift idea if you know someone who is moving into their first home or relocating and has home improvement projects in their future.  Here is my must haves list that includes all the bare necessities to get anyone through just about every project.

• Miter Box and Saw with Jaws
• Level
• The Best Paint Brushes You Can Afford
• Utility Knife
• Tape Measure
• Wire Cutters
• Screwdrivers (flathead and phillips)
• Electric Drill
• Nail Set
• Wrench
• Needle Nose Pliers
• Caulk and Gun
• Putty Knife
• Tape:  Plumbers, Electrical and Painters
• Hammer

March 26, 2008

High Brow, Low Brow - North Park

As promised, this is the second in a three part series dealing with the range of values in the neighborhoods of Hillcrest, North Park and Ocean Beach. Each of these are interesting on their own and also for the sake of comparison since, as you’ll see, these micro markets are quite different.

I am always curious to see the spread between the highest and lowest priced homes on the market. It says a lot and gives a pretty good picture of the range and value of properties in a region. Most people shopping a particular neighborhood are most interested in homes that fall somewhere near the middle, so knowing the playing field is critical.

This week, I am bringing you homes on both ends of the spectrum in each of three popular San Diego neighborhoods and I’ll throw in one or two in the middle so you get the big picture along the entire continuum. On Monday, I covered Hillcrest. Today, North Park.

Lowest! 3776 Alabama Street. $95,900. One bedroom, one bath condominium in North Park. Built in 1981, this home has 378 square feet and is priced at $254 per square foot. It is in a senior community but investors are welcome. On Redfin 75 days.

Tweenie #1 4111 32nd Street. $449,000. Three bedroom, two bath single family home in North Park. It has 903 square feet and is priced at $497 per square foot. It last sold for $400,000 on May 19, 2004. The Zestimate for this home is $385,500 and it’s eppraisal is $358,069. On Redfin 113 days.

Tweenie #2 3954 Arizona Street. $525,000. Two bedroom, two bath condominium in North Park. This home has 1,370 square feet and is priced at $383 per square foot. It’s Zestimate is $413,000 and eppraisal is $467,001. On Redfin 181 days.

Highest! 3128 Laurel Street. $1,090,000. Three bedroom, two bath single family home in North Park. This house has 1,985 square feet and is priced at $549 per square foot. It last sold for $782,000 on January 19, 2005 and it’s Zestimate is $603,000. On Redfin 23 days.

If you liked this post you might also enjoy:

High Brow, Low Brow - Hillcrest

I Sure Wish You Hadn’t Done That

For Those Who Like it Rough (You Know Who You Are)

March 25, 2008

Mayhem, the Market and Messy Monsters (What a Whammy)

 (Notice the toys are untouched)

Home is where the heart is. It’s also where we store our dusty old records, boxes of children’s “artwork” and all those scarves grandma made each Christmas. I have collections of treasured stuff that nobody cares to see but I have the good sense to be selective and organized about how much I keep and how I store it all. I am not a clutter bug. I am a purger (to a fault at times). I love to throw things away, even things I know I might need later. Still, I’m willing to throw caution to the wind now and then just for the fleeting exuberance that comes from temporary tidiness. Clean house, clean mind.

Over the years, I have come to realize that a little investment now will reap great rewards. If it were simpler and more efficient to leave the cleaning for later, I would. But the truth is that it is a cumulative task that can grow into a monster that will eat you alive. That’s why I do one good thorough cleaning each week, come heck or high water. It usually follows my weekly trip to the grocery store which prompts me to discard last week’s science experiments and restock the fridge with fresh produce and lots of new treats (I love grocery day). Sticking to a routine and being consistent makes life a whole lot easier. In my house, laundry gets done when the basket is full (although the clean clothes may sit in the dryer for several days) and dishes get done each morning. I’m a firm believer that night time is not the right time for dish doing. This is my one admitted messiness splurge because I figure I can just as easily do them after breakfast. There is something freeing about leaving a mess behind but coming home to a slop is daunting.

Now, why am I going on and on like I’m the Queen of Clean (as if)? I actually do have a point related to residential real estate. It’s plain and true. If your house is on the market, devise a program to keep the place spiffy and stick to it so things don’t get out of hand. In all truthfulness, I’m not perfect. At any given moment I could be found out for having coffee grounds on the counter, a hair clog in the shower or dirty towels on my bathroom floor. But those things are minute fixes that I can do in a flash any day of the week. If you’re so overwhelmed with life, work and family that keeping up the house is too much, do everyone a favor (most of all yourself) and get someone to come in once a week and help out at least until the house is sold and you are through the unsettling business of selling your home.

Recent San Diego Sweet Digs Posts:

High Brow, Low Brow - Hillcrest

Monday Madness - The Simpson’s House

Open House - East County Easter Weekend

I Sure Wish You Hadn’t Done That

March 24, 2008

High Brow, Low Brow - Hillcrest

I am always curious to see the spread between the highest and lowest priced homes on the market.  It says a lot and gives a pretty good picture of the range and value of properties in a region.  Most people shopping a particular neighborhood are most interested in homes that fall somewhere near the middle, so knowing the playing field is critical.  This week, I will bring you homes on both ends of the spectrum in each of the three neighborhoods of Hillcrest, North Park and Ocean Beach and I’ll throw in one or two in the middle so you get the big picture along the entire continuum.  Today, Hillcrest.

Lowest!  1756 Essex Street #201.  $219,888 one bed, one bath condominium in Hillcrest.  It has 608 square feet and is priced at $362 per square foot.  It last sold for $338,000 on July 29, 2005.  It’s Zestimate is $248,500 and eppraisal is $240,462.  On Redfin 1 day.

Tweenie #1  3972 Albatross Street #205.  $585,000 two bedroom, 2.5 bath condominium in Hillcrest.  It has 1,463 square feet and is priced at $400 per square foot.  No past sales data or property valuations are available for this home because it is one unit in the brand new Mission Florence development.  On Redfin 172 days.

Tweenie #2  1011 Hayes Avenue.  $649,000 two bedroom, 2.5 bath single family home in Hillcrest.  It has 1,411 square feet and is priced at $460 per square foot.  It last sold for $518,000 on June 12, 2003.  Its Zestimate is $740,000 and eppraisal is $679,221.  On Redfin 31 days.

Highest!  1041 Cypress Avenue.  $2,990,000 four bedroom, 3.5 bath single family Hillcrest home.  It has 3,500 square feet and is priced at $854 per square foot.  It last sold for $2,375,000 on October 13, 2006.  It’s Zestimate is $1,755,000 and eppraisal is $2,072,103.  On Redfin 383 days. 

If you liked this post you might also enjoy:

I Sure Wish You Hadn’t Done That

For Those Who Like it Rough (You Know Who You Are)

Huge Reductions on San Diego Homes - Walmart’s Not the Only One with Falling Prices

March 23, 2008

Monday Madness - The Simpson’s house

What do you look for in a new house?

To the East of San Diego, quite a bit East … actually in Nevada, is a house full of fun. This is the Simpson’s house, of TV cartoon fame, made real.

Real estate hasn’t been much fun lately. The agents, bankers, appraisers and sellers haven’t much to smile about. Buyers are eager to see prices drop, but too many of them are vultures who can’t comprehend fun. The houses themselves aren’t fun. Many are neglected, but even when new they weren’t fun. Navajo white ticky-tacky bland boxes. Now, for something completely different…

This house will knock your socks off and lose them in the laundry

This real house was built as a promotion a decade or so ago. It is fairly true to the cartoon house as you can see from the promo photos taken at that time. The staging is among the best I’ve seen, adding warmth without clutter or sterility.

C’mon inside and have a look

Architecture alive!

The Simpsons and their creators are no strangers to architecture. Marge has a personal connection to Frank Gehry who agreed to build a concert hall for Springfield. The Simpson house is clearly designed as a place where the children will experience growth, inspiration and a healthy psyche.

Simpson’s house- a virtual tour, another, and still another

This particular house may not be your cup of tea. You may have been considering a more bland and conventional home. That’s OK because someone has to buy them before the market is saturated with dull homes. But perhaps just a little color and cheer could work its way into your next home(?)

[insert your wrong opinion of this property with a comment]