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We are pleased to present below all posts archived in 'September, 2013'. If you still can't find what you are looking for, try using the search box.
Multi-Billion-Dollar Urban Center Planned for South County
The beginning of a multi-billion-dollar community in Chula Vista -- with multi-family residences, office and retail developments and promenades and parks -- was begun today by McMillin Communities. At its completion in about 20 years, Millenia will have a population of about 8,500, according to the developer. It will be equivalent to about 80 city blocks, and is fully entitled with plans for 3,000 multi-family residences, 2 million square feet of Class A office space on 30 acres, 1.5 million square feet of retail, hospitality, civic and mixed-use projects, six themed urban parks and a variety of tree-lined promenades, casual gathering places, bikeways, and plazas. It has been designated a Smart Growth Urban Center by the San Diego Association of Governments.
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It’s no surprise that over the last several years a lot of people have experienced financial problems due to the economic downturn. Now that consumer confidence and employment opportunities have returned (respectively), traditional buyers are looking for ways to get back in the home buying game. They’ve been referred to affectionately as “Boomerang Buyers,” by the media. But what about all those buyers left credit-less because of an underwater mortgage that resulted in a foreclosure, short sale, or worse, bankruptcy? The following discussion notes the brass-tacks on a new program aimed at helping beleaguered borrowers earn back their buying power
Tthe “Back to Work Program”
The technical name is “The Back to Work Extenuating Circumstances Program,” and is designed to allow people who experienced a “Negative Credit Event” like a short sale, foreclosure or bankruptcy during the housing crisis to purchase a home. Typically these people would have experienced an extended delay of anywhere between two and seven years before they could purchase a home. Through this program, they have an opportunity to get back in within as little as 12 months. The program is going to remain in effect for any applications that have a case number through September of 2016.
City Council Approves Big Castlerock Housing Development
The San Diego City Council has unanimously approved a housing development project at the San Diego-Santee border, which will eventually be either annexed into Santee or remain part of San Diego.
Weekly Schedule for each Farmers Market held in San Diego County
Approximately one week from closing of your purchase in escrow, you can do your final walk-through of the home you are purchasing. This enables you to go through and inspect your new home just before it closes escrow. This is normally done with your representing agent, and usually takes 20-40 minutes. You are entitled to confirm that the house is in the same condition as when you purchased it and there is no new damage, and that the repairs the seller promised you would be done before close have indeed been done
I know you've heard about it: That there are companies “stage “your home for sale, each property sale is unique, for example if your property is vacant the staging organization will have furniture ready to use in which case a professional stager can be a very good option. If you occupy your home then you may want to stage your property yourself. If you think you have a decent sense of form, order, and design, I am sure you can do it yourself by just utilizing the following guidelines:
When you sign a contract to purchase a home, you will see there is an automatic provision for buyer’s to obtain a Home Owner Warranty. Please note this warranty does not refer to insurance coverage for fire, liability, and theft. This is an added optional warranty against system failures of some appliances, some plumbing issues and sometimes roof coverage.
In a “Normal” market, the seller many times will pay for this for their buyer as it is an extra way of attracting a buyer for their home. Should your seller refuse to pay for it, I strongly suggest that you do. The warranty will likely cost from $300-500 depending on the size of the home and the options of coverage you wish to cover. It is your best bet to protect yourself from that good old “Murphy’s Law” that can kick after close of escrow. Many times people will be so pleased with the coverage that they will continue the coverage after the first year.
What a Typical Family Buying a Home Might Expect to Experience their Purchase Transaction after Escrow Opens
THE BEGINNING: Escrow will be opened by the Realtor whose chose the escrow company per the Residential Purchase Agreement. Your good faith deposit must be delivered to escrow typical within 3 days of acceptance of the offer.
INSURANCE: Make sure you contact your insurance agent to order coverage for your property early in the process so you won’t have any problems with this near close of escrow. Have your insurance agent contact the escrow officer with confirmation of the underwriting in case there are any issues with the property selected so you and your agent have ample time to work on solutions. Make sure your insurance agent sends their investigator out to view the property and its location early on, if required, so your policy won’t be cancelled at the last minute due to underwriting issues.
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