Carlsbad Real Estate Advice 4 - Mylene Merlo - North County San Diego Real Estate Advisor

North County San Diego Real Estate Market Report – July 2024

I checked June 2024 sales numbers for six North County cities. Out of six cities, two set new sales price records! For detached home sales, San Marcos, and Escondido set new records for sales prices. Inventory has continued to rise slowly. Between late June and late July, the number of detached homes across six North County cities increased slightly. Given the low inventory over the past year, we are grateful for any signs of improvement.

How Much Does it Cost to Own a House?

Are you planning a budget for your existing home, or considering buying a home? There are plenty of mortgage calculators available online, but they don’t include all homeowner expenses. How much does it really cost to own a house? Use my Monthly Housing Costs Worksheet to help plan your monthly expenses. The Cost to Own a House – Not Just the Mortgage Homeownership can build net worth, provide financial stability, and even create a source of rental

Property Tax Postponement Program for California Homeowners

Need some relief from property tax bills? If you are a homeowner in California and over 62, blind, and/or disabled, you may qualify for the Property Tax Postponement Program. (NOTE: If you are a military veteran with a service-connected disability, read about the Disabled Veterans’ Property Tax Exemption.) Eligible homeowners can postpone payment of current-year property taxes on their primary residence. Postponed amounts are secured by a lien against the property, and accrue interest at a rate of 5%.

North County San Diego Real Estate Market Report – June 2024

I checked May 2024 sales numbers for six North County cities. Out of six cities, three set new sales price records! For detached home sales, San Marcos, Oceanside, and Escondido set new records for sales prices. Inventory has continued to rise throughout the spring season. Between late May and late June, the number of detached homes across six North County cities increased by 18%. This is good news for home shoppers, who have struggled to

Closing Costs for Cash Buyers in California

Are you an all-cash buyer? When you pay with cash, you can enjoy a negotiating advantage, a shorter escrow period, and you pay fewer escrow fees. Here’s a list of closing costs for cash buyers, and an example of the costs for a cash purchase of a $500,000 home. NOTE: These costs apply to California sales. If you are buying a home outside of California, these numbers probably don’t apply. Check with a local real estate company

Self Employed Buyers – How to Finance Your Home

If you’re self employed, how do you qualify to buy a home? How do you satisfy a lender without regular bi-weekly paychecks? Many self employed people are afraid that they can’t qualify for a mortgage, because they don’t receive a certain amount of income every two weeks. Here’s the good news: many self employed people can qualify to buy a home. If you identify as a sole proprietor, W-9 employee, freelancer, or independent contractor, your loan

North County San Diego Real Estate Market Report – May 2024

Sales prices are staying high. For detached home sales, Oceanside set a new record high sales price for April 2024, at $975,000. Inventory has continued to rise this spring. Between late April and late May, the number of detached homes across six North County cities increased over 11%. Carlsbad – $1,900,000 All-time high: $1,930,000 – April 2022 Encinitas/Cardiff-by-the-Sea – $2,375,000 All-time high: $3,100,000 – September 2023 San Marcos – NEW HIGH – $1,150,000 All-time high:

Where Can I Go to Get a Mortgage? – Mortgage Lenders 101

What are the different types of mortgage lenders out there? Whether you’re looking to buy or refi, there are plenty of companies competing for your business. While they all serve the purpose of financing a real estate purchase, they can look very different from each other. So how do you decide where to go and what to look for? Here’s a quick rundown on the different types of lenders, and how I, as a real

Home Buying and Credit Repair – How to Improve Your FICO Score

When planning to buy a home, one of the first questions to ask is: What is my mortgage FICO score? Here’s how your FICO score affects your ability to buy a home, and how to improve it. What is a “Mortgage” FICO Score? FICO scores vary, by credit agency and inquiry type. The FICO score that you can order online will be different from what a mortgage lender obtains. I have also heard that the

Pre Listing Checklist -Steps to Selling Your Home

6 Steps to Preparing Your Home for Listing in the MLS

Congratulations! You have signed a Residential Listing Agreement to list your home for sale. What’s next? Here’s my Listing Checklist for preparing your home for listing in the MLS. 6 Steps to Preparing Your Home for Listing in the MLS Property Details Seller Disclosures Cleaning & Staging Photography Appointment Schedule Open Houses For Sale Sign Property Details My first step in preparing your home for listing is gathering Property Details. As your listing agent, I want the

North County San Diego Real Estate Market Report – April 2024

Sales prices continue to climb. For detached home sales, both San Marcos and Vista set new record high sales prices for March 2024 sales. In Oceanside, the median sales price matched the record high set in July 2022. Inventory continues to stay low, but there was a significant jump between early March and late April. Many would-be home sellers are waiting for interest rates to drop, as they may have doubled since their last refi.

4806 1/2 Old Cliffs Road in Allied Gardens – SOLD!

Welcome to The Cliffs Mobile Home Park in Allied Gardens! UPDATE: We closed escrow in March, for $312,000! Built in 2017, this newer Golden West home offers three bedrooms and two full baths in a double-wide, 1325 square foot floor plan. 4806 1/2 Old Cliffs Road is located in a quiet area of the park. There are no neighbors directly behind. You can just enjoy the shade of lovely oak trees for your backyard. The

Buyer Escrow Timeline – What to Expect When Buying a Home

Buyer Escrow Timeline Congratulations! Your offer was accepted, and you have opened escrow on your new home. So what’s next? How long should everything take? Is there a general escrow timeline to follow? It usually takes between 30 to 60 days for an escrow to close. Sometimes the escrow timeline can be shorter or longer. You and the Sellers agree to an escrow timeline during the contract negotiation. Here’s a general escrow timeline for home buyers. While every

North County San Diego Real Estate Market Report – March 2024

Real estate in Q1 of 2024 has remained stable. For detached home sales, both Carlsbad and Vista reached or nearly reached their April 2022 record highs. Inventory continues to stay very low. Many would-be home sellers are waiting for interest rates to drop, as they may have doubled since their last refi. Carlsbad – $1,920,000 Encinitas/Cardiff-by-the-Sea – $2,454,000 San Marcos – $1,116,368 Vista – $950,000 Oceanside – $949,000 Escondido – $910,000 Interest Rates Rates have

San Diego Down Payment Assistance – San Diego Housing Commission

Can you afford a monthly mortgage bill, but need San Diego down payment assistance? Good news! There are San Diego down payment assistance programs for low- and median-income home buyers in San Diego County. Here are some details about the Housing Commission’s San Diego down payment assistance programs, including how to qualify, and how to apply. Deferred Loans DCCA CalHome Down Payment Assistance – Outside San Diego City Limits The DCCA CalHome program is one

Rain Barrels and Rebates for San Diego County Homeowners

San Diego County residents qualify for reduced-cost rain barrels! Why Rain Barrels? You already know that we are in the midst of a devastating drought. Even though we had snowfall in the Sierras in 2023, we do not have a surplus of water. Farming activities in the 20th century have dried up our natural water tables. Today, we use so much water from the Colorado River, that it dries up 90 miles before it’s supposed

VA Loan Programs – Buy with $0 down and no mortgage insurance

Are you or have you served in the military? Have you checked your eligibility for VA loan programs? If possible, consider taking advantage of this fantastic benefit! VA loan programs let active duty military and veterans buy real estate with: $0 Down Payment No Monthly Mortgage Insurance Easy Qualification Minimal Closing Costs, and Relatively Low Interest Rates. First, let’s review program qualifications, loan limits, types of VA loan programs, and finally, the VA Funding Fee. VA Loan Program

Home Seller Disclosures – What to Report When Selling Your Home

When it comes to home seller disclosures, what do you need to provide? When you sell your home, you are required by law to disclose to the Buyers all material facts about your property, and about the surrounding area. A material fact is any condition that can affect the value of the property. Here’s a list of some home seller disclosures that we use when selling property in San Diego County. Property-Specific Home Seller Disclosures Your

North County San Diego Real Estate Market Report – October 2023

Update: The Real Estate Market in North County San Diego Data Source: Mylene’s Real Estate Market Report uses data from CRMLS for 2021-2023 and represents properties listed or sold by various brokers. Housing Inventory In most North County cities, San Diego housing inventory has been climbing slowly since the beginning of 2023. We hope for a break in interest rates, to incentivize more owners to sell. Today, there are many home buyers who are waiting

Down Payment Funding – Solutions for Home Buyers

One of the biggest obstacles for home buyers is having enough cash up front. Many home buyers qualify for the monthly housing payment, yet they don’t have enough cash to cover the down payment and closing costs. While this can seem daunting, there are some ways to get around this financial obstacle. Check the California database of current down payment programs! When Do I Need a Down Payment? Most buyers need to provide a down

Down Payment Assistance – CalHFA Loan and Grant Programs

The California Housing Finance Agency (CalHFA) was established in 1975. CalHFA provides home financing and down payment assistance programs for low to moderate income Californians. If you take out an eligible CalHFA first mortgage loan, you may be eligible for additional CalHFA down payment assistance: MyHome Assistance Program, which can be combined with the Zero Interest Program (ZIP) Conventional, FHA, and VA Programs School and Teacher Employee Assistance Program (formerly Extra Credit Teacher Home Purchase Program) Cal-EEM

Owner Alert Service for San Diego County Homeowners – FREE to sign up

Owner Alert Service – FREE for San Diego County Homeowners Thanks to the San Diego County Assessors Office, there’s a new measure you can take to protect yourself from fraud. Why Do I Need Owner Alert? Companies and individuals can record documents that link to either you, your trust, or your property. This can be a lien, a forged grant deed, or a number of other records. Unless you know to look for it, you

North County San Diego Real Estate Market Report – July 2023

Selling with Solar – Selling Your Home with a Solar Lease or Loan

Selling with Solar – What You Should Know More and more homes in California have solar systems. If you have solar panels on a house you’re selling, what should you know? Will the solar panels help you sell the house, or will they make the house harder to sell? This article answers some common questions about selling with solar: How will a solar system affect the sale? Can a Buyer assume a solar lease or