Team Aguilar agent Howard Blum just listed this stunning La Costa home for sale. A home perfect for entertaining, relax and enjoy the luxurious lifestyle/comfort in this gated Balearas home at 6837 Citrine Dr, Carlsbad, CA 92009. Feel the ideal, breezy elevation from the backyard and enjoy the views of the La Costa Golf Course and western sunsets. New Solar setup makes this an extremely cost effective proposition! Two sound systems, one in master suite and 1 downstairs to control the ambiance. The Home also comes complete with a jacuzzi! Call Howard at 858-354-4551 with any questions or to schedule a showing!
4th of July Fireworks in San Diego – 2014 Edition
We here at Team Aguilar love fireworks and love celebrating our nation’s independence, and we believe you should too! Here is a list of all the fireworks displays scheduled in San Diego. Remember to call in advance before making the trip. All events are free-admission unless otherwise stated – check the event websites listed below for more information. Be safe, enjoy yourselves and have a great fourth of July everybody!
Here are a list of 4th of July Fireworks in San Diego 2014 events:
We just listed a condo for sale and wanted to share the aerial video we created using our new real estate drone. Please view video below and review the information about this particular condo for sale.
Marina District Condo for sale
Remember if you’re looking to sell a home in San Diego County please contact us for a free market analysis.
New Condo for sale in CityFront Terrace. This is the largest 1 bedroom condo in CityFront Terrace. Located on first floor with french doors leading to your private patio and easy access to the Marina District. This condo features 2 levels of open layout with lots of natural light from large first and second floor windows. If you’re looking for a building with amenities equal to a luxury Manhattan apartment, this is your opportunity to own that and more in CityFront Terrace. 24/7 concierge service, gym, pool, spa,library and luxury common areas.
MLS Information – MLS # 140024575
Marina District Condo for sale.
One of the many ironies of working in real estate is that real estate agents themselves often have a harder time being approved for a mortgage than the clients they represent! Self-employed individuals (such as real-estate agents) are generally not seen as the ideal borrower, and typically pay higher interest rates than someone who collects a regular paycheck from their employer. If an advertised mortgage rate seems too good to be true, it usually is. The best rates are applicable only for prime borrowers, i.e. individuals with excellent credit scores and steady verifiable income source – something many of the self-employed lack. But of course they never mention that in the ads.
As a self-employed individual you will often have to go the extra mile to find lenders willing to work with you. Reporting requirements are more stringent and lenders will look at your financial background with more scrutiny than they would a regular 9-to-5 employee with a steady income.
Mortgages Options for Self-Employed Individuals
Traditional FHA Loans – Most lenders these days will only offer traditional FHA loans to the self-employed on the basis of their tax returns for the last two years. Borrowers will have to fill out IRS Form 4506-T, authorizing lenders to request tax transcripts. Tax returns can only be received directly from the IRS and not the borrower and lenders will have to wait until the IRS has processed and recorded them.
A lender will look at the average of the borrower’s adjusted gross income for the last two years, unless the most recent year shows falling income, in which case the lower number will be used. The actual requirements (such as the debt-to-income ratio) to qualify for an FHA loan varies greatly depending on each borrower’s unique financial situation – this is something you really should discuss with a qualified mortgage broker or financial adviser.
Stated Income Loans – Before the housing market crash of the mid to late 2000’s, most banks would approve what was known as ‘stated income’ loans from most self-employed individuals. A stated income loan, as the name suggests, was where the mortgage lender would approve the loan on the basis of the borrower’s stated income, without verifying it against pay stubs, tax returns or other documents. Needless to say such loans were abused (by both borrowers and lenders) to such an extent during the housing boom, they came to be known as liar’s loans.
While stated income loans have been all but outlawed by federal legislation, some smaller lenders at the State level are offering their versions of stated income loans, albeit with more stringent requirements. For example, a lender might provide a stated income loan to a borrower who has a credit score of 720 or higher, can put a down payment of at least 30 percent or more and has at least six months of cash reserves at hand to cover all their monthly obligations beyond just the mortgage. Also it should be noted that the mortgage rates of stated income loans on the secondary market are not as competitive as those offered by traditional FHA loans.
No Documentation Loans / Alt-A Loans – Similar to stated income loans, these are loans given out in the secondary market where the lender will not seek to verify borrower income information. Since these are riskier loans than full documentation loans, the interest rates will be considerably higher. As with stated income loans, Alt-A loans have come under increased scrutiny in the wake of the housing market crash of the mid to late 2000’s.
A short sale lead
Yesterday I received a call about a possible short sale, even better it was a referral from a past client. It always feels good when you receive a referral. In this case the referral was about a home that was $90,000 underwater and the owners wanted out. They wanted to short sale, and what was even better is that they informed me they already had a buyer lined up. Easy money, right?
All I would have to do is submit a request for a short sale, turn a blind eye to any outside offers that come in and introduce our pre-arranged “buyer” as the only person willing to make a serious offer on his home. Everyone is happy, I get to close a quick and easy transaction – one whose result has already been pre-determined – collect my commission and call it a day. What could be easier! Except if I were to go through with such a deal I would be committing fraud and jeopardizing my real estate license.
I politely informed the lead that short selling his home to a straw buyer is something I would not do. As difficult as banks are to deal with (and believe me, you don’t know the meaning of the word difficult until you have dealt with the servicing departments these banks use to process short sales), I as a Realtor have a responsibility to my client. In the case of a short sale, the bank is a party in the transaction because of the seller’s negative equity position in the home. I have to do my best to recover as much money as possible from the short sale. If I limit the home’s exposure on the MLS or turn a blind eye to legitimate offers on the property, I become guilty of defrauding the bank.
When I carefully explained all of this to the lead, the response was, “Oh………………. so can you short sale my home????” I clearly wasn’t getting through to them. So once again I replied, saying that while they will undoubtedly find a real estate agent willing to go along with their scheme, that agent would not be me. I ended our conversation by informing them if they wanted to enter into a short-sale listing agreement with me, they would have to prove to the bank that they’re in a genuine financial hardship, let me expose their listing to the whole world via the MLS and other avenues and grant me the freedom to entertain all offers.
They ended up taking their business elsewhere.
The above example shows the ethical and moral dilemmas we working Realtors face every day. There are many Realtors who are all too happy to accept such deals and pocket the money. What’s the harm, right?
Team Aguilar has just listed a gorgeous Carlsbad Home for Sale in the 92008 zip code. This custom Cape Cod style home has 3 Bedrooms and 2.5 baths. Custom upgrades include Slate floors, French doors, Milgard windows and Central A/C. This home is move-in ready. The added addition above the home is absolutely stunning and can be used as a bedroom, office, or perhaps even rented as the new owner see fit. Featuring a large back and front yard, this home is centrally located within walking distance to all three area schools — the elementary, middle, and high school – this home is ideal for anyone wanting to raise a family in one of the best school districts in California. Close to everything one could desire in Southern California, this home sits one mile from the Beach and is very close to Downtown Carlsbad in addition to numerous parks, basketball courts, tennis courts and soccer fields. Very reasonably priced at $769,000, this home won’t be on the market long.
Contact Howard Blum or Fred Blum at 619-366-2000 for showings.
MLS # 140015363
Team Aguilar’s Free March Madness Basketball Pool is back! This is our 5th year and it sure seems to fly by!
Feel free to sign up here or just click on the March Madness image in the header of our homepage.
You won’t have a chance to win a million or a billion dollars but you may win a few bucks.
Top 3 players win $
1st = $100
2nd = $75
3rd = $50
Simple Scoring System
1 point for each correct pick in Round 1
2 points for each correct pick in Round 2
3 points for each correct pick in Round 3
4 points for each correct pick in Round 4
5 points for each correct pick in Round 5
6 points for the correct Champion
The March Madness Pool is 100% free and everyone is welcome. It will take you just a couple minutes to sign up, make your picks and lock your bracket. Note that the schedule will be updated Sunday evening after selection Sunday has completed.
Feel free invite your friends and message me with any questions.
Howard Blum has a new listing in San Elijo Hills that just came on the market. Stunning home in San Elijo Hills just listed. Located at 1670 Milan, 92078, this luxurious home in an exclusive and family friendly gated community is perfect for entertaining and raising a family. Immaculately cared for by single occupant, this corner lot in the Azure neighborhood of San Elijo Hills could be just what your client is looking for. Complete with a large granite counter topped kitchen, Kitchenaid appliances including double oven, 4 bed/3 bath including full ground floor bathroom, spectacular Master Bedroom, 3 car garage (with the single garage converted to office, easily restored to original use) and ample storage space. Additionally, our listings corner lot with an added balcony complete with Ocean View will allow your clients to take in all that San Diego has to offer.
As our regular readers might have noticed, the Team Aguilar website has undergone a total redesign. The old site, while perfectly functional, was getting a little long in the tooth. What was cutting edge design in 2008 was starting to show its age in 2014.
Our overall goal with the redesign was to streamline the site while retaining much of the old content. A typical real estate website belonging to a small to medium sized brokerage limits itself to a few sections containing a weekly blog, a contact page and MLS listings. What sets TeamAguilar.com apart is that it is crammed with information covering all aspects of residential and commercial real estate in San Diego you won’t find anywhere else (and yes, we have a weekly blog and MLS listings as well.)
The menu bar linking all the information pages is persistent throughout the site, meaning users are only a mouse-click away from a treasure-trove of information on San Diego real estate. Our ambition was to allow the user reach his or her desired page with the fewest number of clicks – we hope we have succeeded in that aspect!
The other major goal was to make searching for properties easier. To achieve this, we placed the MLS search bar front and center in the home page. Users can now search for San Diego homes based on a number of criteria including neighborhood, number of bedrooms, price and type of property.
You may have noticed the new “search by map” feature, where users can zoom in via Google Maps and see what properties are available on the map itself along with their listing price. Links to this are available in the home page as well as the property search page.
We have also included a persistent “search by MLS#” box and “Search for San Diego Properties” link in right sidebar of every page.
Note: MLS stands for Multiple Listing Service, a centralized online resource where real estate brokers (such as Team Aguilar) access and share information with buyers, sellers and fellow brokers. MLS contains a comprehensive up-to-date list of all the available real estate inventory throughout California. If there’s a property on the market in San Diego County, it will show up in the MLS search.
Have questions, comments, or suggestions on how to make the site even better? Contact us!
Here’s an interesting little infographic from the National Association of Realtors showing the benefits of using a Realtor to sell your home. Many homeowners are under the impression they can save a bundle on commission fees by selling their properties themselves, but are in fact most likely to lose money on the final sale price.
There are many disadvantages of going the For Sale by Owner, or FSBO, route:
- FSBO sellers cannot list their homes on the popular Multiple Listing Service used in the real estate industry. This puts them at a huge disadvantage when it comes to marketing their property, forcing them to rely on traditional means of advertising such as real estate flyers and newspaper ads. While there are some fledgling online FSBO listing services, most of them charge fees and lack the reach of MLS.
- Selling a home involves a lot of preparation. FSBO sellers are expected to be in total compliance with all State and Federal laws associated with selling a property. They should be aware of financing options, tax-implications and many other aspects of selling a home. Not adhering to the many rules and regulations will open up the seller to all kinds of legal ramifications down the road.
- FSBO sellers will still need to hire a lawyer or solicitor to draw up the sales contract and represent them at closing.
- As shown in the infographic, FSBO’s on average sell for a whopping 20% less than a comparable property sold by a Realtor.