San Diego Real Estate Podcast with Joe Corbisiero

A quick overview of all the steps involved in the home-buying process. Today we wanted to briefly go over what happens during the home-buying process for those of you not familiar. First, you need to connect with a knowledgeable and reliable real estate agent in your buying market (we hope you'll choose us if you're buying in San Diego!). Your agent will help you get started with the pre-approval process. The pre-approval will determine your maximum budget for a new home.  Once you receive that letter from your lender or local bank, you can start shopping for houses. Your agent will send you the information on homes with open houses or private showings available, and you'll go see the ones you like best. Once you fall in love with a home, it's time to make an offer, which your agent will write for you. Once you get an offer accepted, you'll go into escrow, and that's the time when you'll do a home inspection, an appraisal, and finish your fully underwritten loan process.  “You need to connect with a knowledgeable and reliable real estate agent.” Once all that's done, you'll get a clear to close from escrow, and they'll send a notary to your workplace or current home so you can start signing all the necessary documents. Once it's been recorded that you've signed all the documents, you can pick up your keys, or your agent will bring them to you. Then it's time to move into your new home!  If you have further questions about the home-buying process or any other real estate matter, please feel free to call or email us. We would love to help you.

Buying low and selling high is a great strategy in real estate. The strategy of buying low and selling high works with stocks, collectibles, and real estate. Today I'm sharing three tips for buyers and three tips for sellers to help everyone buy low and sell high in real estate. Three tips for homebuyers: 1. Buy in an undervalued neighborhood. Eventually, those homes will become highly desirable, and you'll have bought them when they weren't valued as much. 2. Consider cosmetic repairs. Some day you'll see the return on investment from those improvements, and in the meantime, the things you enhanced will be to your taste. 3. Don't wait any longer. Prices won't decrease, so now is the time to buy.  “Buying low and selling high is the best way to win in real estate.” Three tips for home sellers: 1. Cash out now. Prices are high, so now is the time to sell. 2. Take emotion out of it. It's difficult to do, but if you can sell unemotionally while you're ahead, you may be able to move into a house at a higher price point or in a nicer neighborhood.  3. Work with a professional agent. Working with a licensed, professional real estate agent will ensure you get a proper home evaluation and help you fully understand all the numbers.  Buying a property at a lower price and then selling later for a higher price is the best way to win in real estate. If you have questions about buying low and selling high or any other real estate-related matter, call or email us. We would love to help you.

If you're buying and selling real estate in San Diego, use a good agent. I am a preferred real estate agent, and I love what I do. I love the feeling of giving first-time homebuyers their new keys. I especially love to help veterans, families, and people who want to increase their wealth. My team is here to make it happen. Why did I choose San Diego, though? San Diego is one of the most beautiful growing metropolitan areas in California. It has gorgeous beaches, palm trees, and lots of sunshine. San Diego has opportunities, people who want to follow their dreams, and a very strong economy. Dreams really do come true here. Make sure you use a Realtor who is knowledgeable about the area. I can help you to find your next home in this beautiful city. If you have any questions, feel free to reach out to me at (757) 773-0023. I look forward to hearing from you.

Here are three reasons to get off the fence and buy a home now. If you've been waiting to purchase a home in beautiful San Diego, today I'll share three reasons why you should buy now: 1. Home prices are projected to increase by another 10% this year. 2. It will take at least five years for our supply of homes to catch up with buyer demand. This is assuming more buyers don't enter the market during that time, which won't be the case. 3. We're not headed for another housing crisis. Unlike back in 2008, when the housing market crashed, we don't currently have the adjustable-rate mortgages that contributed to the market downfall, and people aren't defaulting on their homes. Let's get you into a house as soon as possible. If you have any questions about the market or how to get the buying process started, reach out to us by phone or email. We'd love to help you.

Why now might be the best seller's market ever in San Diego. You might've heard about how hot our San Diego market is, especially if you don't live in the area. We are here to tell you that spring 2022 is the best time to put your home on the market. Not only will you get top dollar, but you'll also get the best terms possible. Now is truly the perfect time to sell. We are experiencing the lowest inventory ever in the San Diego market. Sellers are getting so much exposure, and they don't have to compete against any other houses. They are likely the only home in their neighborhood at the time. We have less than one month of inventory, and our demand is through the roof. Buyers are doing anything they can just to own a home like yours. This is possibly the best seller's market in history, and sellers will continue to have the upper hand throughout the coming spring. Interest rates are also rising, and that is pushing some buyers out of the market because they can't afford as much as before. As interest rates continue to increase, putting your home on the market now will give you the best chance to get multiple offers. “Buyers are doing anything they can just to own a home like yours.” Our team has some amazing strategies for you to use, whether you're selling your primary residence or investment property. We can help you strategize the best way to sell your home and get into your next one while accomplishing your goals and putting money in your pocket. If you have any questions about real estate, feel free to call or email us. We're always happy to have a conversation, and if you know anyone we could help, we'd love to talk with them, too.

Here's what you'll need to factor into your budget if you're buying a home soon. If you're purchasing a home, you're probably aware that you'll need a down payment and a mortgage payment, but you might not be aware of all the other costs involved. Today we're answering some common questions surrounding the amount of money you need to buy a home. Do you pay out of pocket for your buyer's agent? The simple answer is no. All of the payments made to the buyer's agent that you choose to work with have already been predetermined by the seller and their listing agent when they sign that agreement. All the work a buyer's agent does for you upfront, like setting up your home search and writing offers, is absolutely free of charge to you as a homebuyer. “The appraisal is required by your lender if you're paying with a loan.” Does it cost money to get pre-approved? Again, the answer is no. You can get pre-approved with as many lenders as you like, and it won't hurt your credit score. What costs am I responsible for? Home inspection fees, for one. That will cost you anywhere from $300 to $700 and provide you with a full list of anything that might be wrong with that property. It also gives you great negotiating power in case there are some larger ticket items to take care of. The home appraisal is something else you'll have to pay for. It's required by your lender to ensure the value of the property. They use the appraisal as a kind of checks and balances system to make sure they don't overpay for the property. Finally, we have closing costs. They'll run you about 2.5% of the purchase price of the home, on average. They include prorated property taxes and HOA fees, your credit report, lender fees, title fees, escrow fees, and more. I hope you had some questions answered today about what it costs to buy a home. If you have any other questions related to buying a home or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Here are five reasons why you should buy this holiday season. If you're looking to buy a home, you've probably been hearing both sides of the story: It's a great time to buy, but it's also hard for buyers in our seller-driven market. It can be daunting to get started, but that's why I want to share five reasons to buy this holiday season: 1. There is less competition. So many buyers put the house hunt on the back burner this time of year. We'll probably see the market heat up again in February of 2022. Right now is the sweet spot. 2. Rent is going to increase. If you're a renter in San Diego, you've probably noticed that your landlord is raising the rent. If not, they probably will soon. Nationwide, we are seeing a rental increase of about 2%. Remember that if you rent, 100% of your payment is interest because you'll never see it again. “Right now is the sweet spot.” 3. Interest rates are going up. Rates are always rising and are scheduled to rise more in 2022. They determine which homes you can afford and how much you pay monthly. Just half a point of interest can increase your monthly payments by $50 to $100. 4. Home prices are rising. Not only are we dealing with inflation, but we also have a shortage of inventory. Basic supply and demand means that home prices will keep rising. 5. I don't want you to miss out. Real estate helps you build wealth. Every month that you own a home, the value rises, and all that equity will eventually go back into your pocket. There are so many strategies we can use to help you win your new home. If you're looking to buy, give me a call at (209) 342-7262, and we can look at which strategy works best for you.

Here's some helpful advice if you're thinking about becoming an investor. Are you thinking about becoming a real estate investor? The key mistake that a majority of investors make is only looking at the current cap rate. The cap rate is a cap amortization of the property. It's a number that determines the profitability of a property.  However, it's not the only cap rate you should be looking at; there is so much more involved when looking for an investment property. These days, the eviction moratorium is over, and many landlords are going to start getting rid of tenants and selling properties. This could lead to great opportunities for the right investor. I recommend looking at the projected cap rate of a home you're interested in instead.  “There is so much more involved when looking for an investment property.” Go to rentometer.com to check the current rental market value of the property you're thinking about purchasing. If there are tenants currently in the property, you may want to consider a “cash for keys” offer to get them to vacate. You can pay them to get out of the property so you can buy it and find new tenants. Then you're well on your way to becoming a profitable real estate investor. If you have questions about this topic or anything else related to real estate, don't hesitate to reach out via phone or email. I look forward to hearing from you soon. Ciao!

Buyer's remorse is common, but you can't let it ruin your home purchase. With the incredibly competitive nature of today's market, many buyers are having to go above and beyond to get their offers accepted. After finally being able to secure a home, though, some people are experiencing a hefty amount of buyer's remorse.  In San Diego, buyers write an average of six offers before one is accepted. That knowledge should make you feel better if you're struggling in our market, but you may still be wanting to call off the deal. I heavily advise against this: If you are feeling buyer's remorse, do not cancel escrow. You'll be right back where you began, and you'll be missing out on the incredible home appreciation we've been seeing. “If you have already found the home of your dreams, don't make the mistake of backing out.” Homes purchased in November 2020 have already gained 5% to 10% in value. Due to the high cost of building materials, low interest rates, and incredibly low inventory, these rising prices are likely to continue. If you buy now, you'll have anywhere from 10% to 20% equity in your home within a few years. So, if you have already found the home of your dreams, don't make the mistake of backing out. If you have any questions about our market or would like more information, feel free to reach out to me. I look forward to hearing from you soon.

Changes in capital gains taxes may be on the horizon. President Biden has been talking about potentially changing parts of the capital gains tax, particularly with 1031 exchanges. This could hugely impact the real estate market, and unfortunately, it seems the impact might be a negative one. Based on what he proposed, capital gains taxes would essentially double. We're already having inventory issues, and the only hope we really have comes from investors. However, people don't want to pay capital gains tax on 1031 exchanges, so this could push investors out of the market. Additionally, 82% of people who do 1031 exchanges are small business owners. So, this change isn't affecting multimillionaires with hundreds or thousands of properties — it's affecting families who are trying to invest. “If you've been thinking about selling off an investment property, now may be the time to do so in order to avoid these steep capital gains tax hikes.” So, if President Biden's proposal becomes a reality, capital gains taxes would nearly double from 20% to 39.6% when people sell investment properties. It's going to affect a lot of people, regardless of income level, who invest in real estate. If you've been thinking about selling off an investment property, now may be the time to do so to avoid these steep capital gains tax hikes. If you have any questions or would like to know what these proposed changes may mean for you, feel free to reach out to me. I look forward to hearing from you soon.

A continuation on the topic of the current state of the market. This is a continuation of the topic about the state of the market right now. A Zillow economist wrote an article recently forecasting that 6.4 million homes would be sold in 2021 in the U.S. They now also expect homes to appreciate by 10.4% nationwide by December 2021. Watch out for the data by different economists that you see on TV because Southern California’s different. We might see 6% to 7% growth. The biggest problem I mentioned last time is that inventory is so low. We’re selling more homes than we have on the market. That’s why you’re seeing increasing prices and many multiple-offers scenarios. You are only able to find a home on the market without multiple offers if it’s overpriced. Data shows this would be anything from $765,000 to $840,000. “We’re selling more homes than we have on the market.” A lot of people are asking if we’ll still have affordable homes. The answer is unfortunately no, but keep looking. The median price going up so much is decreasing affordability. With prices going up, people want to know whether we are in a bubble or not. The answer is simply no, this is not a bubble. Prices will continue to rise, especially now that everybody’s getting the vaccine. People are understanding that working from home is the new norm.  When you spend more time at home, you want a better home, and that’s why we’re seeing the spike that we’ve seen in the last few months. We have to embrace the change and look into a property that can offset our costs. What you want to do is be smart about buying, and get a property that has an additional unit. Next time I’ll explain what you can do with that. Feel free to reach out to me if you have any questions about the market, where we’re headed, or how to offset the cost of your mortgage. Talk to you soon.

These are the ways we help our buyer clients write competitive offers. Since the market here in San Diego County (and pretty much all markets across the country) has been such an extreme seller’s market, many buyers are having serious difficulties in getting their offers accepted. Inventory levels are drastically low, and many agents across the nation have been running at least 12 offers before a seller accepts. Fortunately, we at the Dream Homes Team have put together a strategy that will help buyers get their offers accepted. Today I’ll break it down for you by walking you through a residential purchase agreement (RPA) and showing you what we do to increase your chances of winning a bidding war. Feel free to follow along in the video above or else use the timestamps below to navigate the discussion at your leisure: 2:09—Why is it so difficult for buyers in the first place? 3:37—The residential purchase agreement 4:27—Modifying your finance terms 5:44—Removing contingencies 7:08—Other terms 9:32—Natural hazard disclosure 10:27—Government requirements and retrofit 11:21—Time periods, removal of contingencies, and cancellation rights 12:23—Writing a letter to the seller 13:34—Wrapping up today’s topic These are just a few of the tips that we recommend our buyers use when making an offer. If you have any questions or would like more details on our buyer strategies, don’t hesitate to reach out to us. We’d love to help you.

Here are two more critical steps of the home-buying process. Today Ryan Shammam, Desirae Morries, and I are continuing our discussion with two more important aspects of the home-buying process: signing loan documents and funding the loan.  Let’s begin with step No. 7: signing the loan documents. At this point, the notary makes an appointment with the escrow company to come to your home or office so that you can sign the necessary papers. This is when you’ll see what your monthly payment will amount to, so be sure to pay attention to the information given to you. “Don’t make any large purchases right before closing.” When the loan goes live, by which we mean when you have an accepted purchase contract, your lender will have to disclose all of the terms to you within three days, including the interest rate your lender will charge you. At this point, the only things that are subject to change from when the loan is disclosed to the closing table are things like the title and escrow fees, which are outside of the lender’s control. That is, unless there’s some change to your credit, don’t make any large purchases right before closing. We’ve seen loans get denied after clients had bought things like iPhones and new furniture before the purchase process was fully completed. To avoid the false promises that many companies make regarding low, low rates, buyers should seek out a direct lender. When they go to price out your loan, they can see what all the major banks in the US are charging. A direct lender can choose whoever has the best pricing for you so you can lock in that rate with them. That leads to step No. 8: funding the loan. There are different kinds of funding that lenders use. Sometimes they’ll send the documents out and after the borrower signs them, they’ll wire their money in. After that time, the escrow company will contact the lender. Then begins the roughly three-day period when the lender has to balance and officially record. However, Ryan and his company do all of that balancing in advance. That way, when the documents go out, the wire goes with them, which allows the lender to begin recording that day. As always, if you have questions about buying a home or have any other real estate needs, don’t hesitate to reach out to me. I’d love to speak with you.

Let’s continue our discussion about the steps of buying a home. Today I’m joined once again by Ryan Shammam and Desirae Morris to talk about two more critical steps of the home-buying process: scheduling an appraisal and ordering homeowners insurance and the home warranty.  What is an appraisal? An appraisal is when a third-party appraiser visits a home to determine its value and whether or not comparable sold homes can support the purchase price. The appraiser already has a copy of the purchase contract, so they know how much you’re buying the home for and they typically try to meet that target price.  In addition to evaluating the home, the appraiser is there to ensure the home has no obvious health and safety issues. From the lender’s standpoint, they want to ensure that the property is in a condition to be financed and doesn’t need any immediate work. About 95% of the time, the appraisal comes back without any issues.  Now, onto ordering homeowners insurance and the home warranty. More often than not, the seller pays for the home warranty. Desirae’s go-to home warranty company, Home Warranty of America, offers a 13-month warranty program, and they always negotiate for the upgraded plan for their buyers. That way, you can take advantage of a low service call fee and potentially get your appliances replaced if need be—appliances that would cost a lot for you alone to replace if they broke down. “In addition to evaluating the home, the appraiser is there to ensure the home has no obvious health and safety issues.” If you work with Desirae’s team, you’ll work with their transaction coordinator who’ll handle all the fine details of the transaction, ensure the home warranty is ordered, and provide all of that warranty’s information prior to the close of escrow.  They’ll also guide you as far as your homeowners insurance goes, which can vary depending on whether you’re buying a townhome, single-family home, or condo. It helps to check with your car insurance company to see if they can get you a good bundle rate. That will cover everything on the interior of your property if it’s a condo because usually the condo association covers everything on the outside. If it’s a home, your policy will cover everything inside and out.  Remember that from the time you send an initial escrow deposit to the contingency removal phase, you can simply cancel the contract and get your earnest money back if there’s a problem.  As always, if you have questions about buying a home or have any other real estate needs, don’t hesitate to reach out to me. I’d love to speak with you.

What’s it like being a homebuyer in 2021? Today we have your answers. Today I’m joined by agents Anja Hollands, Javier Hernandez, Desirae Morris, and Ryan Shammam for a discussion focusing on the position of homebuyers in our market. What’s changed since January 2020? What can buyers expect from the home-buying process? What should they consider to be most important among their wants and needs? All these questions and more will be answered.  Feel free to watch the video above in its entirety, or use these timestamps to skip ahead to various sections at your leisure:  0:00—What are buyers looking for in comparison to last year?  1:00—There are fewer luxury buyers but significantly less inventory  1:57—What should be a millennial buyer’s first step in the buying process?  4:02—The importance of discussing what’s important to you as a buyer  5:15—Breaking down the pre-approval process  7:15—What happens after you get a pre-approval? 8:58—Wrappings things up  As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.

If you’re a first-time buyer, this is a must-watch discussion tailored to you. Today I’m sharing a segment of an awesome discussion I had last month with some of the rockstar members of The Dream Homes Team. As part of our first-time homebuyer’s seminar, we not only wanted to empower buyers who might be on the fence but also to dissect this high-demand, low-supply market of ours. Who, exactly, is buying in the San Diego area? Joining The Dream Homes Team is Ryan Shammam from Cross Country Mortgage to explain the ease with which most homebuyers can get qualified right now.  Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:  0:39 — Introducing the topics to be covered in this video 2:57 — Millennials (in particular, young professionals and growing families) are fueling our red-hot San Diego market, as well as an influx of VA buyers  3:50 — What’s incentivizing this latest wave of homebuyers?  4:40 — How we help our buyers understand their purchasing power and capitalize on it  6:10 — How easy is it to get qualified for a home loan these days? 7:44 — Some amazing loan products that make homeownership an attainable reality for many  I hope you found this discussion helpful. If you have questions about the market or want more information on the home-buying process or how to finance a purchase, don’t hesitate to give us a call. We look forward to hearing from you.

Can’t afford to upgrade your home before listing? Here are your options. So you’ve thought about selling your San Diego home but it needs some work first. Generally speaking, homes that are in impeccable condition sell for more than homes that need a little work. By “need a little work,” I mean your property could use a paint job, bathroom/kitchen remodel, roof or foundation repair, etc.  What if you don’t have the funds to make these upgrades? Here are your options.  The first is a program we offer called Compass Concierge. With this program, if you have enough equity in your home, I’ll front the money to you to pay for the upgrades. I’ll also find vendors I know and trust to do the work. This will allow you to net way more money when you sell. Obviously, I know this can be a slight discomfort because you’ll have to rearrange your furniture so the work can get done and deal with people moving in and out of your home. However, I still highly recommend considering this option because I’ve seen properties sit on the market for a long time just because the owner neglected to do a simple paint job or something similar.  Making upgrades may seem like a lot to undertake, but if you spend as little as $5,000 to $8,000, you can get a return of $20,000, $30,000, or even $40,000. I’d love to show you how, so give me a call and I’d be happy to schedule a virtual or in-home consultation. “At the end of the day, my goal is to make as much money for you as possible when selling your home.” Your second option is to sell to an iBuyer. iBuyers are companies or investors that purchase homes for cash. You won’t get as much money selling this way as you would by listing your home on the open market, though, and that’s because these iBuyers need to make a return on their investment as well. This is a business, after all—not everyone can afford to put $500,000 into a home and not make any money in return once they sell it.  If your home has serious issues, I recommend selling to an iBuyer. Unfortunately, some homes are so old or in such bad shape that they’re simply not financeable. I buy homes for cash as well, so I’d be happy to give you as much money for your home as possible based on its condition so you can move on with your life.  Our team also offers complimentary staging, so if you decide to work with us and put your home on the open market, we’ll furnish it for free. We’ll also do everything else in our power to prepare your home for the market (photos, video, pre-inspections, etc.) and showcase it in the best light possible on all the major real estate websites.  At the end of the day, my goal is to make as much money for you as possible when selling your home. If you’d like to talk more about this topic or have any other real estate questions, don’t hesitate to reach out to me. I’d love to help you.

Here’s what you need to know if you’re thinking of buying a home in San Diego. As we move through the fall season, you may be hearing a lot of things from the media regarding our real estate market. Some say we’re in a bubble and that a slowdown is imminent. Others say you should buy now because it’s a great opportunity.  2020 has been an interesting year as far as our market goes. As you know, a lot of people lost their jobs after the COVID lockdown, and the market was expected to sink concurrently. That didn’t happen, though. All the while, interest rates have been sustainably low—the lowest I’ve ever seen. In fact, I’ve seen loans close at just 2.5%, which is mind-blowing. This helped our market keep a fast pace.  What should you do if you’re a tenant thinking of buying a home? This might sound crazy, but hear me out: Do what you think is right. If you’ve been paying $2,000 to $3,000 per month in rent for the last three to five years, you’ve been paying $50,000 to $60,000 annually with no tax deductions. If you really want to buy, don’t focus on a home’s price—focus on your potential monthly mortgage payment. With rates as low as they are, you can buy in the $500,000 to $550,000 range and still pay $2,000 to $3,000 per month for your mortgage. If you’re willing to spend a little more ($650,000 to $700,000), you’ll be able to find homes in better neighborhoods. “If you really want to buy, don’t focus on a home’s price—focus on your potential monthly mortgage payment.” This part of the year, it’s been very challenging to get a home under contract because inventory is so low in San Diego County. We only have between 3,600 and 3,700 homes for sale (this supply only includes detached homes, twin homes, condominiums, and townhomes). There are between 4,200 and 4,500 pending homes. The good news is that I know plenty of tips and tricks to help you get the home you always wanted, so your first step in the home buying process should be to give me a call. My team and I will give you a free buyer consultation and let you in on the secrets of making a strong offer. For example, we’ve been shortening the timelines of the inspection and appraisal contingencies for our buyer clients (sometimes waiving the appraisal contingency altogether), which has proven very successful in getting their offers accepted.  If you’d like to start the home buying process or have any real estate questions at all, don’t hesitate to call or email me. I’d love to speak with you!

Here are my thoughts on selling a home now versus waiting for spring. You’ve probably heard a bunch of conflicting information about our market, so I’m here to clear things up and give you the facts. Our team continues to help clients buy and sell homes day after day. We have buyers, sellers, investors, and other real estate professionals who are buying and selling real estate. “There’s never a ‘perfect’ time to buy or sell a home.” We are in a very strong seller’s market right now. We have a limited supply of homes, and demand is high. There are about 63% fewer homes on the market now than we had in September 2019. That’s a huge dropoff and demonstrates just how low our supply is. In the same period, sales remained flat even though there were so many fewer homes to choose from. There’s never a “perfect” time to buy or sell. Timing the market doesn’t work. What does work is taking advantage of current market conditions to cash out on your equity, and put it into something bigger and better. If you bump up into the luxury market, there’s a bit more supply to choose from. I’m almost positive that the election will have some impact on this luxury market. If you have any questions for me about buying or selling a home in this kind of market, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Here’s my latest update on the market, and what to expect moving forward. I hope everyone is doing well despite the nation’s current circumstances! Unfortunately, our area is having to go back under lockdown—for example, we’re no longer allowed to dine in at restaurants for the time being. How is that affecting the real estate market? Well, a majority of the people who work in the restaurant industries (except maybe the owners) are renters, so I foresee issues within the rental market coming in the next few months to a year since those people may struggle with paying rent.  Also, the rate of employment has been going up. There used to be a 13.5% unemployment rate in our area—now we’re down to 11%. Jobs are starting to pick up again, people are going back to work, and companies are restructuring and reorganizing. How is this impacting the real estate market? This has had a positive impact. People have job security; many have been working from home, which in turn causes them to reassess the amount of space they have there. People are finding they want to have a dedicated office space, a bigger yard, etc. As of May, June, and July, more people have been buying properties on the outskirts of major cities; many are less concerned about traffic now that they’re having to work from home, and some employers are cutting costs by shutting down some of their office spaces. “Buyers, it might be a good idea to lock in your rate today.” The most important thing is that the economy keeps on running. Here are some key facts to note: Last year between June and July, we had 3,141 home sales. This year during the same period, we had only 2,997. A decline of 5% is really nothing when you consider the fact that we’re in the middle of a pandemic. We currently have 4,025 homes for sale, which is a fairly low number given that we sold 3,000 units in June. Multiple offers are rampant from entry-level condos up to the luxury market; typically, the luxury market doesn’t do this well during times of uncertainty.  We’re in a strong seller’s market because interest rates and inventory are low. If you’ve thought about selling your home, be it to upsize or downsize, this is probably the best time to do so. If you’re a buyer who’s been renting and is unsure of the future, you might not feel 100% comfortable buying a home right now, which I understand. Just know that interest rates are around 3.25%, which is the lowest I’ve ever seen them in the last 12 years. It might be a good idea to lock in your rate today. If you have any questions or would like to have a one-on-one conversation about the market and your real estate plans, don’t hesitate to reach out to me. I’d love to hear from you.

I talked to a group of real estate pros about the importance of data. I recently gave a presentation for the San Diego Real Producers’ Mastermind Zoom series about the importance of data when analyzing the real estate market and prospecting for clients. Here’s a timestamped outline of the discussion so you can skip around to the section(s) that interest you the most: 0:55 — How data and real stories work together to help clients make decisions about buying or selling 1:45 — The future of the real estate market boils down to a few specific data points 3:00 —ShowingTime data and trends that show we’re back on track 4:45 — A look at the San Diego County expected market time year over year 6:00 —  Why interest rates should be an emphasis for buyers 7:15 — The wrong mindset that most prospects have about this market and how you can change it 8:10 — Wrapping things up If you have questions for me about the current state of the real estate market or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Recently, I appeared on the “Real Estate Rundown” show with Bill Griffith to talk about home affordability and mortgages. What’s happening with mortgages? How much can a person afford when they want to buy a house? To determine how much you can afford when getting qualified for a loan, we look at two factors: How much you can personally afford, and your monthly payment limit. Clients will often use those numbers to decide how much they can afford by comparing them to what they currently pay in rent. We’ll also look at how much you have available to put down; after combining these factors, we can usually come up with a loan product that you’ll qualify for and which will hopefully match your monthly payment goals. “With VA loans, now you can get up to $1 million with zero down as long as you qualify.” After looking at your qualifications, income, assets, and credit, we’ll then take that and determine which loan product fits you best. We’ll even spell out the pros and cons of each one to help you make a better decision. There have been a few changes that are relevant to the discussion of which loans are the best fit. The VA loan, for example, changed their maximum spending limit with zero money down this year. In 2019, the maximum lending limit with zero down in San Diego was $690,000; now you can get up to $1 million with zero down as long as you qualify. If you want to know more about your options or you have any questions, give us a call at (169) 333-2556 or visit our website at www.DreamHomesTeamSanDiego.com.

Here’s what you need to know to get your real estate investment portfolio started. Perhaps you’ve heard this tried-and-true saying: “You’ll never go broke investing in San Diego real estate.” Real estate investment is one of the reasons I moved to San Diego 12 years ago.  When it comes to determining whether you should leap into real estate investing, there are two main things to consider:  1. Cash flow. When you take the rent you’re charging tenants minus the mortgage, taxes, maintenance, etc., what’s left?  2. Appreciation. What is the percentage, year over year, that the value of the property appreciates? How quickly are you building equity?  “Appreciation will happen regardless—San Diego is a great market.” You can invest in all sorts of properties, but in my opinion, forget about condominiums—they tend to have homeowners associations, adding another layer of complexity to your strategy. I also recommend two to four units. If they’re strictly used for cash flow purposes, they typically require a 25% down payment. Appreciation will happen regardless—San Diego is a great market. But the cash flow in some areas (often referred to as “less desirable” areas, or gentrifying areas) will be way less than others.  In gentrified areas, you’ll have higher cash flow and a little less appreciation, but that’s your retirement plan. If you’re looking for a place to live or your next investment property, feel free to reach out by phone or email. I’m more than happy to help.

Activity is climbing as more people are doing what people do best: adapt. Everything is about perception. While many look at the fact that we went from over 3,100 sales in April 2019 to 2,194 in April 2020 and panic over the prospect of a market crash, I see something else. We must understand that we’ve been in a lockdown—I’m actually surprised that April’s numbers were that high given the insane circumstances.  Things were so dire that the government had to flip the emergency switch and give trillions of dollars to American citizens and small businesses, yet homes in San Diego were still selling in the thousands. That testifies to a strong market!  Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:  1:52 - Homeownership rates and economists’ projections for recovery  3:55 - Homes for sale: the latest numbers as of early May 4:21 - Putting March and April’s impacted performance into a greater context 6:15 - Analyzing supply, demand, and the number of showings   8:29 - So many people are losing their jobs—how could this not spell disaster for real estate? 9:53 - What these stats mean for our market going forward  If you have any questions about what was discussed in this message or if you’re interested in buying or selling a home soon but aren’t sure how to proceed in these times, reach out to me via phone or email. I’m always here to help, and I look forward to hearing from you.

Our San Diego County market is still strong, and now is a great time to buy. Amid the COVID-19 lockdown, today’s market update is a message of positivity. I first want to say that my family and I are alive, have a roof under our heads, and have food in the refrigerator. Therefore, I consider us blessed. There are a lot of people who are worse off than we are, but we’re all in this together. Things are changing quite quickly in our San Diego County market, but from April 16 to April 23, there were 549 homes pending and 656 active listings, which tells us that our market is still strong.  At 3:09 in the video above, you can see a ShowingTime graph depicting the impact COVID-19 has had on home showings in California. On March 5, showings were up 32% compared to the same time in 2019. Then the pandemic hit, and by March 25, showings had plummeted 65.7%. From March 28 to April 22, though, they increased by 35%. “If you still have a job and were thinking of buying before the pandemic hit, make your purchase.” With home showings increasing as drastically as they are, that’s a good sign, and with interest rates still low (3% to 3.25%), there’s a short window of opportunity to buy now. If you still have a job and were thinking of buying before the pandemic hit, make your purchase. Don’t think about what may or may not happen in the future.  Here in California, we’re similarly blessed as far as the health of our real estate market goes, and there are still a lot of job opportunities out there. As soon as the lock down is lifted, it will still take a month or two for everyone to recuperate mentally and many former employees to get rehired by their former employers.  So to reiterate, the time to buy is now. If you have questions about our San Diego County market or there’s anything I can assist you with, don’t hesitate to reach out to me. I’m here to help.

2020 was off to a fiery start in the market, but then the unexpected happened. Here’s what you need to know about the state of our housing market. I hope you and your family are safe at home and making the most out of your time.  Recently, I’ve been pulling up a ton of data, analyzing different metrics, and watching top economists. Today I’m sharing a report I compiled using the latest info from our San Diego County market in the past two to three weeks. Around the middle of March, our pending sales for 2020 (roughly 3,500) mirrored the levels of 2017, which was one of the best years in the history of our market. Since then, of course, pending sales have dropped dramatically as COVID-19 spread. However, this is actually nothing to be scared about if you understand our housing supply situation. To hear more about what I mean, watch my latest video above. 

Are we doomed to have a real estate recession soon? Are prices going to drop like we saw in the Great Recession of 2008? While stuck at home, I’ve been having conversations with economists and taking part in seminars on these very topics. Right now, mortgages can be frozen and foreclosures avoided—things that never happened in 2008. People also don’t have the extreme debt like they did back in the Great Recession.

Even in a market that has an uncertain future, homebuyers are taking advantage of conditions right now. Here’s how. We’re right in the middle of the coronavirus pandemic here in the U.S. Many people have been asking me questions about how this is affecting real estate, so today I’m going to focus on the effects that homebuyers are seeing. While some people might be hesitant to enter the market, there are still a lot of opportunities out there with low interest rates for mortgages. In fact, the market has been picking up in the last week.

What can you expect from the San Diego real estate market in 2020? Here are my predictions. On the latest episode of “Real Estate Rundown,” Bill Griffith and I talked about the future of real estate.  In 2020, San Diego will be the fastest-growing real estate market in the state, according to a number of different experts and economists. There are more job opportunities coming in, and San Diego is a cheaper place to live compared to San Jose, Los Angeles, and San Francisco.  We’re projecting a growth of 2% to 3% in the state of California, while the projections for San Diego are near 4%.  “You leave a lot of money on the table by selling to an online buyer.” Is it a good time to buy or sell? Based on what’s going on right now, I can say this: Interest rates are still low and it’s always a good time to buy when you want to become a homeowner. As long as you are comfortable with your monthly payment and your interest rate is low, go for it. Real estate sales have become more like car sales recently in the fact that you can actually sell your house with the click of a button online. However, there’s so much that goes into selling a home that these companies don’t know. They will buy your house for cash, but I don’t recommend selling it to them. You could lose a lot of money and leave a lot on the table that way. If you have any questions for me, feel free to reach out via phone or email. I look forward to hearing from you soon.

I recently appeared on the Real Estate Rundown program to discuss how our market fared in 2019. I recently appeared on the Real Estate Rundown program to discuss how our market fared in 2019: January to April was a little slow, but statistically, it frequently is. After people file their taxes, they begin thinking about buying a new home. The peak for buying homes is June through August, but we also see plenty of buyers in September. This is the same pattern each year.  However, from January to August 2019 we saw 2% to 3% fewer homes being sold when compared to 2018. Then in September, magic happened. Interest rates went down significantly, around 3%, and the market experienced a boost. We increased over 6% in the number of sales compared to 2018 in just the last few months of the year.  “The peak for buying homes is June through August.” San Diego had a great year in 2019, and we expect it to be even better in 2020. However, one of the complaints about sales being lax for a while in San Diego was a lack of inventory. It’s all about supply and demand, so during the holiday season, homeowners don’t want to show their properties. They’re busy and want to enjoy their family time. During that time of year, we have fewer properties on the market.  Due to the interest rates being so low, now you have all kinds of future homeowners entering the market, especially younger couples looking into the prospect. It’s beautiful to see, for example, newlyweds purchasing a home right away instead of having to rent for a few years first.  If you have any questions about our 2019 market or real estate in general, please reach out to me via phone or email. I would love to help you.

If you want additional income, real estate investment may be for you. Here’s what to do. If you’ve been thinking about how to make additional income, your best bet may be to begin investing in real estate. It’s one of the safest ways to build your wealth and watch your equity grow, and I’ve been doing it for over a decade. When investing, an important thing to look at is cap rates. A cap rate indicates how much you should expect an investment to make. The higher the cap rate, the better the investment. To find this number, you multiply rent by 12 and divide that number by the price of the property. In San Diego, the cap rate typically comes in at around 4% to 5%. “The higher the cap rate, the better the investment.” Another important number, however, is the projected cap rate. In some areas, rents are currently below market value. If you want a great investment, you can analyze the building itself. Properties with below-market rent typically have some repairs that need to be done. We can try to buy these properties when they’re vacant or give tenants notice to vacate.  Next, we upgrade the property, market it, and find good tenants. Immediately, your cap rate will increase to around 10% to 11%. At this point, you can sell it and make some money or you can keep it for passive income. If you have any questions or would like more information about real estate investment, feel free to reach out to me. I look forward to hearing from you soon.

What’s the difference between the luxury and the median real estate markets? Here’s what you need to know. Today we’re taking a look at both the luxury housing market in San Diego and the housing market that includes median-priced homes. These are two completely different housing markets, especially during this time of year. Anything over $750,000 is considered the luxury housing market. The ultra-luxury housing market is anything over $5 million. The important numbers to look at here are price, the number of homes for sale, and the months of inventory.  For the housing market under $750,000, we are still experiencing a lack of inventory. There are still a lot of homes selling in this strong seller’s market. The luxury housing market from $750,000 to $2 million is still in a slight seller’s market, but is now more of a neutral market with five months’ worth of inventory. In the ultra-luxury housing market, we have over 18 months of inventory, which is a strong buyer’s market. As you can see, the median, luxury, and ultra-luxury housing markets are all quite different. “There are still a lot of homes selling in the median housing market.” One reason for this ballooning of inventory in the ultra-luxury housing market is that tax breaks have been taken away so not as many people are investing in ultra-luxury homes. This has caused people to think we’re heading for a recession, but the truth is that we’re not. People are just investing in other places instead of real estate right now. A quick word of advice for those of you who are thinking of selling your home: Make sure you have a compelling price and your home is move-in ready if you want to sell for the most money possible. In San Diego, our housing market continues to be strong for most. If you have any questions for me about buying or selling a home here in San Diego, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

As we close out 2019, our San Diego real estate market is strong. What’s the latest news from our San Diego market as we wrap up 2019? Where do things stand compared to last year?  Interest rates have dropped about 1% since 2018, and this has boosted homeownership and made people more confident in buying a home. Last winter, this confidence simply wasn’t there.  As a result, sales for detached single-family homes have risen about 5.7%. Prices have risen about 5.7% for detached single-family homes as well. Condos and townhomes, on the other hand, have been suffering a bit. As I said, interest rates are very low, and this has caused buyers who’d normally buy a condo or townhome before buying a detached home skip this step entirely.  “Interest rates have dropped about 1% since 2018.” Looking ahead to 2020, I’m excited for our San Diego market. Our market is strong, and we have about two months’ worth of inventory. As we know, real estate is all about supply and demand, and if there’s not much supply and a lot of demand, that will drive prices up.  If you have any more questions about our San Diego market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.

You can find a great deal on a home during the holidays. Here are five reasons why. Why wait for spring when the holiday months are the perfect time to buy a home? There are five reasons why a home purchase makes perfect sense during the holidays: 1. You have more buying power. The homes that didn’t sell over the summer are still on the market. Sellers are more likely to take a lower price so they can finally get their properties sold. 2. Less competition. Since few people know that the winter months are a good time to buy, you’ll face less competition from other buyers. In the spring and summer, the market is saturated with buyers, which leads to more demand for homes. 3. Take advantage of tax season. Sellers want to make a sale before tax season rolls around. If they’re selling an investment property, they’ll have to report a loss or a profit. They’ll be more willing to make a price cut now to avoid a gain in 2020. “When people do choose to sell during this time, it indicates that they’re motivated to make a sale.” 4. Sellers are more serious. Not many people want to deal with selling their home during the busy holiday season. When people do choose to sell during this time, it indicates that they’re motivated to make a sale. If they’re desperate to move, you can negotiate a great price. 5. You can see the home’s condition in bad weather. We usually see more rain in December, which can show how a home handles inclement weather. You’re better able to see a home at its worst (and avoid making a potentially problematic purchase). Issues like leaky roofs and gutters mean that you have extra room for negotiation. If you have any questions or would like more information about real estate, feel free to reach out to me. I look forward to hearing from you soon.

Our client appreciation event was a huge success. Here’s a closer look at all the fun we had. Today we wanted to show you the fantastic Halloween event we hosted recently. Over 75 people joined us to enjoy free tacos, carnival rides, and our pumpkin patch. All of our new clients, past clients, and friends who were able to attend all had a great time. To get a look for yourself at how much fun we had and to hear from some of our team members and clients, watch the short video above. Keep an eye on our blog for future updates about upcoming client events! In the meantime, if you have any questions, don’t hesitate to reach out to us. We’d love to hear from you.

A recession may be coming, but this doesn’t mean real estate is also headed for a crash. Let’s discuss why this is the case today. There is a general consensus that we’re headed for a recession, but will this economic slowdown impact our real estate market? Simply put, no. Only one of the last five recessions was coupled with a significant housing market crash, and, in that case, the relationship between these events was simply correlative—not causal.  “We aren’t in for a repeat of 2008 any time soon.” When you consider this in conjunction with the fact that approximately 56% of American homeowners now have more than 50% equity in their homes, it’s clear that we aren’t in for a repeat of 2008 any time soon.  Homeowners are spending their equity more wisely these days, and lending standards have become more strict. There is truly no cause for panic. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Want to maximize the profit from your home sale? Follow these three tips. As a home seller, there are three important tips you must remember if you want to maximize the profit from your sale.  First, and most importantly, showcase it in the best light possible. Put yourself in a buyer’s shoes: They’ve got a family to take care of and they’re probably very busy, so they just want to find a home that feels like home. They don’t want something they have to invest a ton of money into or fix up—just a place where they can move right in. Here at the Dream Homes Team, we have several programs you can take advantage of that will boost your home’s curb appeal. “People want to see videos of homes so they can get a good feel of how they flow from room to room.” Next, have your home staged. Most sellers don’t know how to arrange their furniture when listing their home, so having yours professionally staged takes care of this problem for you. This is another service we offer on our team.  Lastly, have a professional photographer take photos and video of your home. Video, especially, is the present and the future. People want to see videos of homes so they can get a good feel of how they flow from room to room. If your home features good video, buyers will show up to it already “sold.” If you’d like to know more about how to maximize your home sale or you have any other real estate questions, feel free to reach out to me. I’d love to speak with you. 

How much money do you need to purchase a home? Find out today. The median home price for single-family homes in San Diego is between $625,000 and $650,000, but you can still find homes in the $450,000 to $500,000 range. Though it might seem expensive, we’re actually somewhat cheaper than other places in California! How much will you actually need in order to buy a home in San Diego? Lenders qualify homebuyers based on their debt-to-income ratio. Their limit is a 50% ratio, meaning that if you make $4,000 a month, you must be able to afford a $2,000 monthly payment. I think that really stretches peoples’ ability to afford a home, so I recommend finding a home whose payment would be around $1,600 (using the monthly income in my example). This way, you’ll have some financial padding to fall back on. “My rule of thumb for closing costs: Calculate about 2% of your purchase price.” How much will you need for a down payment? First of all, there are many ways to come up with a down payment. Many people don’t know this, but you can actually use your IRA Roth account to cover your down payment; you can also use your savings or any investments you own. Similarly, you can also use gift money provided by a family member. The minimum down payment I recommend putting down is 3.5% of the home’s purchase price for a conventional loan or FHA loan. Mind you, when you put down a lower down payment, it’s more of a risk for the bank, so they’ll charge you for mortgage insurance. That’s nothing to be concerned about because you can always refinance and get rid of the mortgage insurance. How much will you need for your closing costs? The majority of your closing costs come from the fact that you have to prepare for your property tax. My rule of thumb: Calculate about 2% of your purchase price for your closing costs. If you buy a home for $500,000, your closing costs would be $10,000. Often, we ask the seller to pay for a portion of the closing costs, and then we can roll the remainder into your rate. If you have any questions or would like more details about today’s topic, don’t hesitate to reach out to me. I’d love to help you.

The market is doing well right now, but what do rumors of a coming recession mean for its future? Let’s discuss As some of you probably already know, I consider myself a lifelong student. Seeking out and absorbing the latest information on real estate, the economy, and the marketplace at large is a passion of mine, and I’d like to share just a few of the things I’ve learned recently with all of you.  Specifically, I’m going to fill you in on what’s been going on with our San Diego real estate market this September.  First, allow me to address the elephant in the room: Yes, a recession is coming. However, it won’t be a real estate recession—it will be an economic slowdown.  Only one of the past five recessions have been coupled with a major housing crisis. And given current conditions, as well as a few factors which are unique to San Diego, it’s unlikely that this recession will pose a major threat to real estate.  “Overall, our market remains strong.” San Diego is actually a bit of a “unicorn” in the market. Between our military base, our massive tech sector, and our general size, there’s a lot that sets us apart. This only further insulates us against the possibility of a housing crisis.  With that out of the way, let’s move on to another common question: Are we in a buyer’s market or a seller’s market? Actually, the answer varies by location and price point. Generally speaking, metropolitan markets with homes priced at or below $650,000 are still facing a seller’s market. Higher price points in our market, however, currently favor buyers—especially in the luxury market. The same is true for more rural areas surrounding the city. Regardless of what market you’re buying or selling in, though, you’re sure to benefit from today’s interest rates, which are currently the lowest they’ve been in the last three years. This is really stimulating local real estate, and, overall, our market remains strong.  The main point to take away from this message is that there’s no cause for panic. Our market is doing quite well.  If you have any other questions, would like more information, or want to speak with me about the best way to pursue your real estate goals, feel free to give me a call or send me an email. I look forward to hearing from you soon.   

I wanted to drop by with a quick market update for December here in San Diego and take a quick look at the November market.  We didn’t see anything shocking—we knew that with a new president coming in, people were unsure about things, which caused the market to slow down a lot in San Diego. Closed transactions were almost 30% lower than August this year. That’s a big jump! This helped inventory a little bit, but it’s still very low at this point. With lower demand, we saw a ton of price reductions. During the summer, many homeowners saw the market frenzy and tried to sell their homes for higher and higher asking prices. Eventually, the demand dropped, and prices had to be reduced. This doesn’t mean the market slowed down—we just have fewer sales. This is not a bubble or a crisis; we still have a couple of years of prices going up ahead of us.  “People finally got back into the market in December.” As we moved into December, we started to see more pending salesdue to people realizing the world wasn’t going to end after Trump was elected. People still have the American Dream of getting into a home, and I hope you can do it this year or next.  So what’s happening right now? First, I wanted to address a current concern in our market when it comes to finding homes. Many people use sites like Zillow and Trulia, but did you know that these websites aren’t syndicated with our MLS? For these listings to be accurate, an agent would have to go to the site and change it, which never happens. This results in problems like listings showing up for sale when in reality, they’re no longer on the market.  Save yourself some time and grief by hiring a real estate professional who can guide you through the process and give you access to our MLS. That way, you can look at properties that are currently on the market. If you’re looking for pocket listings, you definitely need to give me a call. I’m the master pocket listing guy! If you’re interested in these listings or have any questions about real estate in San Diego, give me a call today. I’d love to work with you!

I recently sat down with some of the top minds in real estate on the West Coast to debate some of the most important topics in the world of real estate today. We focused on two major topics: vacation rentals and the risk level associated with them, and when the best time is to sell your San Diego home. Our opinions varied on a lot of things within these topics, but there were definitely some things we agreed on. When it comes to vacation rentals, we talked about whether or not you should buy now or wait until the dust settles with potential law changes on the horizon. Much of it depends on whether you can use it as a short-term or long-term rental. When it comes to selling your home, we discussed whether you should only sell if you have to. One thing we know is that prices will go up and up, but a homeowner’s needs will always be the first priority. That’s just a taste of this panel discussion we had on Smarter San Diego. You really need to see it all to get all the answers.

Welcome to episode one of “A Little Slice of Italy,” my new show that spotlights some of the local businesses San Diego’s Little Italy neighborhood has to offer. Today we’re interviewing Chris Antinucci, the owner of Napizza.  Napizza is a family owned business located at 1702 India Street. Chris was born and raised in Rome, then opened the restaurant in June 2012 with the idea in mind to bring back a corner of his home city to San Diego. Besides that, he loves pizza, so part of his motivation was to be able to eat great pizza every day.  What makes Napizza special, according to Chris, is that they don’t deviate from the quality of their ingredients. They import both their flour and yeast straight from Italy, and they levitate their dough for 72 hours. As he likes to say, “Their crust is their heart and their toppings is their imagination.” In my personal opinion, their crust is actually better than what you would find in Rome.  As Chris knows, Italians don’t eat at places they don’t believe in, and the real testament to his restaurant’s quality is the fact that it’s always jam-packed with Italian customers. Just because they have refined customers, however, doesn’t mean they don’t get their share of crazy requests. The very first day they opened, in fact, Chris had a customer ask for a tub of mayonnaise that they could spread all over their margherita pie. Needless to say, he almost fainted.  “This place is the real deal.” Chris and his staff are keen on combining American tastes with traditional Italian cuisines. In Italy, the potato pizza is a very popular style of pie. When Chris introduced it in his restaurant, however, nobody tried it. He was on the verge of discontinuing it until one of his chefs simply suggested adding bacon as one of its toppings. Sure enough, the pie exploded in popularity and remains one of their top sellers.  As an Italian, I’m really picky with my food, but trust me when I tell you that this place is the real deal. If you’d like to sample a true taste of Italy, I can’t recommend this place enough. For a limited time only, if you go there and mention Whissel Realty, you will receive a 10% discount on your order.  If you have any questions about this episode of “A Little Slice of Italy,” please feel free to call me anytime. I hope to hear from you soon. Ciao!

I have three secrets to help you get your home sold for top dollar that I wanted to let you in on. Showcase your home's best features. This is so important! You want to showcase your home with professional-quality photos and video, including drone video and interior video for certain kinds of properties. You should also consider staging your home. If you call a stager or two for some information, you might be able to do this part on your own, but you don't want to skip out on the professional photographs. The whole package would cost you between $3,000 and $5,000, but if you call us, it's free. Maximize your online presence. Did you know that 90% of home buyers search online for their home? Nearly 50% of them find their own home online, too. It's crucial to have a presence on all the real estate websites you can. We have a deal with Zillow, Trulia, and Realtor.com that allows us to showcase homes on page one, so you'll be seen right away on all these top websites. I can't tell you how much this would cost you to do on your own, but it cost us a lot of money! It's just one more cost you won't have to spend if you work with us. Pricing strategy and negotiation. You don't want to leave any money on the table. It's not just about coming up with an estimate–we do deep research to find the right price to list at. We look at what's available right now, who is competing against your property, what has sold in the last six months, and what is pending. Then we look at the condition of your property to determine what we can do to improve it. Only then do we come up with a price. If you’re in interested in more selling tips, we have a home seller guide that we offer for free here. If you have any other questions about selling your house or about real estate in San Diego, give me a call. I’d love to hear from you!

Today I’m spotlighting one of my favorite restaurants in the Little Italy neighborhood: Civico 1845. I ate here recently, and I must say, the food blew my mind! Best of all, they have an entire menu dedicated to vegans. Zio Vincenzo opened Civico 1845 in June of 2015, and has been serving customers from all over the country ever since then. He says that it’s been busy since the day they opened and hasn’t slowed down yet. As someone that grew up with authentic Italian food, I must say that I’m very picky when it comes to what I like. However, the food at Civico 1845 totally blew me away. Zio Vincenzo says that what sets his restaurant’s food apart is the fact that everything they make is fresh. The pasta is made from scratch and even the fish is delivered fresh every week. I’ve also noticed that the menu is written in perfect Italian, a rarity even at most other Italian restaurants! Keep an eye out for part two of our series featuring Civico 1845, where I’ll be talking to Chef Pietro, part-owner of the restaurant and the chef for the vegan menu. In the meantime, if you have any other questions about buying or selling real estate in San Diego, give me a call or send me an email. I’d be happy to help you!

For the second part of our spotlight on Civico, we’re taking with Pietro Gallo who is the chef and creator of the vegan menu here at the restaurant. He’s going to clue us in on some secrets they have here at Civico 1845. The owners found our area’s little Italy, decided it would be a great spot for a restaurant, and the rest is history. I personally found Civico a few months ago while dining out with a friend who is vegan. My friend knew Civico had a vegan menu, so we tried a couple things out, and I was amazed! Pietro Gallo says Civico is the only vegan Italian restaurant in San Diego and probably the only one in California. Coming up with the idea of a vegan menu was easy for [name] because he is vegan himself. Since he works and east here, he approached his business partner about having an entirely vegan menu instead of just a few items. Now, the menu has about 17 vegan items on it. The mushroom calamari  and vegan ‘meatballs’ are some of the most popular items on the menu, all of which are made from scratch. The pasta is homemade and fresh, just like the desserts. Since we live a healthy lifestyle here in San Diego, I think it’s so important to have options like these. Pietro Gallo says that 30% of his customers are going vegan! As an Italian, I can’t recommend Civico 1845 enough. It’s definitely worth a try. As always, if you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you!

Now that we know who the next president will be, how is it going to affect the real estate market? Allow me to explain by answering a few questions that may be on your mind right now: Will Donald Trump use real estate to kick-start the economy? C’mon, we’re talking about Donald Trump, here. Before he was the future president, his business was real estate. Aside from that, most of the presidents from the past tried to use real estate as a vehicle to boost the economy, so we should expect to see more of the same from Trump. “I expect Trump to use real estate to kick-start the economy.” What’s going to happen to mortgage rates? I don’t have a crystal ball, but I do know that the low rates we’ve been dealing with lately won’t last forever. In the last week, we’ve seen some fluctuation, because that’s what usually happens whenever there is uncertainty. I do believe that rates will go up soon, though, either within the next month or next spring when there will be more buyers on the market. Is it going to be easier to borrow money? I believe so. I also think it will be particularly easier for small business owners to get a mortgage and become homeowners. What’s going to happen with building regulations? Apparently, 25% of the costs of building a home are associated with regulations. That’s a lot of money! Trump has been talking about reducing that regulation to as little as 2%. If that happened, we would have far more homes coming on the market. One of the problems we’ve had here in the San Diego market is a lack of inventory. In the $500,000 to $600,000 price range, the year-to-date inventory has oscillated between 1.5 and two months. A reduction would result in home builders investing more money. More money means more development. This can only help us. What about immigration? By this, I mean the effect any change in immigration laws may have on foreign investment. Let me put it this way: how many of you have been overbid on a property by an overseas investor? There are many of these types of investors who’ve been buying properties here and using them as rentals. I estimate that this has happened to at least 75% of my buyers. Increased immigration regulations may make it harder for overseas investors to do the same thing. As far as I’m concerned, I’d rather see more homeowners in San Diego and the rest of the U.S. than foreign investors using properties for rent. If you have any questions about this topic, please feel free to reach out to me by phone or email. I’d be happy to help!

It’s another beautiful sunny day in San Diego and our own Joe Corbisiero is back for another episode in our “A Slice of Little Italy” series. Today Joe is at iDessert, one of the newest and best dessert shops in the city. iDessert is the creation of world-renowned pastry chef Jean- Philippe Maury, who made a name for himself in Las Vegas as an executive pastry chef and has appeared on TV programs like The Next Iron Chefand* Fabulous Cakes*. The concept of iDessert was to create an experience where customers can build their own dessert without actually having to make it themselves. The concept is quite simple in practice: You are given a tablet that you use to build a dessert. You choose all of your ingredients. You then choose your meringue shell, all of which are made in-house and come in 15 different flavors. Next, you can add cream to coat the inside of the shell to break the sugar. After that, you can pick your flavor of gelato or sorbet to put inside. You can add a crunch of nuts or Oreos, in addition to fresh fruit toppings like peaches or cherries. Finally, you top it with sauce, which comes in a little ball dispenser. “You choose all of your ingredients.” In addition to that dish, you can also build your own sundae or crepe. The desserts range in price from around $5 to $10 and are very affordable for the quality of ingredients used—not to mention the value of the experience in eating a great dessert like this. Everything is made from scratch, everything is fresh, and this place is the real deal. Quality is their first priority, then comes inventiveness. iDessert is located at 1609 India St., is open every day from 11 a.m. to 11 p.m. and until midnight on Friday and Saturday. Thanks to Jean Felipe for sitting down to talk with us and sharing your latest creation. If you get the chance, you absolutely need to come down here and check this place out. If you have any questions about iDessert, Little Italy, or anything real estate-related, don’t hesitate to reach out to us. We look forward to hearing from you soon.

Thanks for stopping by my new YouTube channel! Here, you can find some amazing home seller tips, home buyer tips, and, of course, real estate market updates for the San Diego County area. My goal is to make this channel a resource for all of your real estate needs, so take a look around and discover topics that interest you. If there are any specific topics that you’d like to learn more about, reach out to me and I just might answer your question with a video. To learn more about my new channel, watch this short video.

Recently, a lot of people have asked, “Are we in a buyer’s or seller’s market?” I want to answer that question and give you a market update. Whether you are in a buyer’s or seller’s market depends on what price point you are in. If you are looking for homes between $200,000 and $750,000, you would be in a seller’s market. There is huge demand in this price point, but not much inventory. “Certain price points are in a seller’s market and others are in a buyer’s market.” On the other hand, homes priced over $1.25 million are in a buyer’s market because there is significantly more inventory than demand. As for our market overall, the number of homes on the market has gone up 4% in the last month. On the other end of the spectrum, the number of homes coming off the market, pending sales, are up 18%. As a result, we have a shortage of inventory available on the market. In fact, our inventory levels are down 18% from this time last year. If you are thinking of selling your home, now would be a great time to get on the market and cash out. If you have any questions about selling or buying a home in this market, give me a call or send me an email. I would be happy to help you!