Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

FIRST TIME HOME BUYER TIPS

For first time homebuyers following tips are the most important steps when buying a home:

Now the right mix of attractive listing prices, tax credits, improved financing and a wide choice of properties seems to be attracting the first time home buyers.

- Research Your Market. The real estate market is so localized that prices among similar homes vary greatly even between neighboring towns. All real estate is localized and the key to a successful purchase is to know the market. Buy a home in an area that works for you and your family best.

- Make a list of what you want. Let your realtor know your criteria in order to find homes that meet your needs. You can go to RiteCurb.com to view homes that fit your specifications. This will give you an idea of what is possible in your price range and in the location you prefer.

- Get pre-approved. There are different home ownership programs available.

Although not a final loan commitment, a pre-approval letter can be shown to listing brokers when you are bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. Lenders can be found on our website, RiteCurb.com

- Make a decision. Once you find the best home that fits your needs, take action. Homebuyers often hesitate, and this could mean you miss the best home that meets your needs. If you have chosen a good mortgage broker and a sharp realtor, you should have the facts to make the right decision. Finding homes for sale is easier than before.

First time home buyers are able to get the best loan types. There are different kind of properties to buy, homes, townhomes, condos, multi-Family, single family homes in different areas in different price points.

Some of the San Diego’s zip codes: 92126, 92127, 92128, 92129, 92130, 92131, 92064, 92067, 92131. Home values are changing depending on the areas. Mira Mesa, Scripps Ranch, Carmel Valley, Rancho Bernardo, Rancho Penasquitos, San Diego, Poway, Rancho Santa Fe.

First time homebuyers, more than any other demographic, stand to benefit the most in today's real estate market.

In fact, a recent survey commissioned reveals that 23 percent of adults plan to purchase a home in the next five years and that more than half of them (53.5 percent) will be first-time homebuyers.

 

 

June 17, 2018

Home Buying Process, San Diego California

Home Buying Process, San Diego California

HOME BUYING PROCESS

1. Get Pre-Qualified by Lender

• Obtain pre-qualification letter.

 

2. Property tours

• Tour homes that suit your needs and preferences.

• Educate yourself about the current housing market.

 

3. Target an IDEAL home and write an offer

• Deliver your earnest money deposit (this check will be held until there is a ratified contract).

 

4. Present the offer

• Your Realtor® will prepare a presentation highlighting the benefits of your offer and your strength as a buyer.

• Your Realtor® will present the offer to the sellers and the sellers’ agent.

• The sellers will either accept the offer, counter your offer, or reject it.

 

5. Counter offer

• Your Realtor® will discuss the counter offer and how it relates to your goals and prepare a response.

 

6. Escrow

• When the offer has been accepted and signed by all parties, your Realtor® will open escrow with Title365.

• Your earnest money will be deposited at this time.

• The escrow officer will order a Preliminary Report and send copies to your agent and lender.

 

7. Loan application

• Submit a completed loan application to the lender

of your choice and provide the lender with all the

necessary documents.

 

8. Contingency period

• Buyer’s approval of seller’s Real Estate TransferDisclosure Statement.

• Buyer’s approval of Preliminary Report.

• Physical inspections/pest inspections.

• Property appraisal and loan approval.

 

9. Homeowners insurance coverage

• Select an insurance company and discuss coverage.

• Give insurance agent information to escrow; Escrow will need to order a copy of the policy for the new lender prior to escrow closing.

10. Signing documents

• Your lender will send the loan documents directly to Title365.

• You will receive copies of title documents and lender documents.

• You will need a current photo I.D.

 

11. Down payment and closing funds

• Submit a cashiers check to Title365 several days prior to closing.

• The escrow officer will provide a Buyer’s Estimated Closing Statement which will itemize your costs and credits with an estimate of total moneys due.

12. Funding

• The lender will send funds to Title365.

13. Close of escrow

• The deed will be recorded at the County Recorder’s office by Title365 (you will receive the original back from the County Recorder in approximately six weeks).

• Your Realtor® will coordinate with you the transfer of the keys and delivery of possession.

 

June 13, 2018

Drone Quote Roof

Drone Quote Roof

Our Background in Solar

Founders Sinuhe Montoya and Riley Wiggins have both spent several years within the solar industry. They have been in involved in all aspects of solar – from making solar installation sales, solar panel design, and solar operations and maintenance.

In the customer sales process, Sinuhe and Riley found that there was a lot of room for improvement to make it easier for customers to buy solar by helping them better understand what they’re getting. They’ve created a simple and convenient platform in which potential buyers can compare solar installation quotes from trusted, local solar installation vendors throughout San Diego County and Southern California.

The DroneQuote Mission

Increase your satisfaction by saving you time and money with our hassle-free DroneQuote survey method. DroneQuote is so simple you do not even need to be home for the survey.

Offer a modern and safer method of shopping for roofing and solar by removing the tiresome in-home sales process and salesmen on your roof, ensuring the prevention of broken roof materials - guaranteed!

Provide you with easy-to-understand roofing and solar installation quote comparisons.

Improve vendors design and quote accuracy with our drone surveying measurement technology, ensuring you get presented with the best and more accurate quotes.

Practice transparency and continue to show that we value you, your time, and your opinions by having clear and open lines of communication. If you have questions or feedback, please contact us, we appreciate hearing from you!

Posted in Rite Advisor
June 13, 2018

Two Men and A Truck Movers

Two Men and A Truck Movers

It all started as an after-school business for two high school boys. With a hand-drawn logo, advertisement in a local paper, and advertising fund stashed in a ceramic dish, the endeavor was never expected to be more than a local moving company.

Now, more than 30 years later, TWO MEN AND A TRUCK® has grown both domestically and internationally with more than 380 locations worldwide. In 2018, TWO MEN AND A TRUCK® will operate in 43 states with additional growth expected in the United States, Canada, Ireland, and the United Kingdom.

Posted in Rite Advisor
June 12, 2018

5 Common Property Title Problems

5 Common Property Title Problems, Buying a Home

Have you ever wondered why you need title insurance? Your home might be new to you, but every property has a history. Title insurance gives you protection from title problems that may surface after you close so you can continue to enjoy your home ownership rights.

Some of the more common types of these title issues are:

1. Errors in Public Records: Let's face it, mistakes happen every day. But when they affect your home ownership rights, they can be devastating. Something as simple as a filing error or a mistake in a former deed or survey could create financial hurdles down the line

2. Unknown Liens: A property may also have unknown liens that you may have to pay if not resolved prior to closing your purchase. Sometimes, when a homeowner doesn't pay their bills, the company or bank that they owe can put a lien on the property. Then, if you purchase a property with an existing lien, you may be on the hook to pay them. This is especially worrisome when you buy a foreclosed property. Purchasing title insurance can help you identify and remedy these liens before you close on your home, and insure your rights after the closing.

3. Missing Errors: Missing heirs can also cloud your title. Family members of previous owners can come forward years after that owner passes away and you've purchased the home. If they claim to have ownership of the property, it could affect your rights.

4. Forgeries: Forged or falsified documents can also cause property ownership issues. If those forged documents are filed publicly, it can create an unclear chain of ownership, which can make it difficult to prove your ownership status.

5. Survey or Boundary Issues: Disputes can also crop up regarding the boundaries of your property. While you might have reviewed multiple surveys of your property prior to closing your transaction, other surveys might exist that show differing property lines. These could lead to disputes when a neighbor or someone else claims ownership of part of your property. In short, there are many different issues that can affect your property's title.

Title professionals are skilled at identifying -- and curing, if possible -- these types of problems before you take ownership. Your title insurance policy then serves to protect you from those issues that may still remain undiscovered. In short, title insurance offers the peace of mind you need when you're ready to make your home-buying dream a reality. Still wondering why you need title insurance? Here are 10 reasons you do. http://firstam.us/1e14HN8

 

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June 12, 2018

Types of Title Insurance Policies

Types of Title Insurance Policies

When you are ready to close your transaction and buy your new home, you will notice that there are two types of title insurance policies. This is because the home buying process typically involves buying both a loan policy and an owner's policy of title insurance. When you secure a mortgage, you will likely be required by your lender to purchase title insurance.

A lenders policy, often called a loan policy protects the bank or other lending institution for as long as they maintain an interest in the property--typically until your mortgage is paid off or settled.

However, as a buyer, you also want to protect your investment -- and the ownership rights that come with it. This is why it's wise to purchase an owner's policy of title insurance, which will protect your rights as the homeowner for as long as you or your heirs have an interest in the property.

Both title insurance policies not only pay valid claims and legal fees to defend against hidden title issues, but also help to decrease ownership risks by providing a thorough title search prior to the issuance of either policy. There are various customs regarding the purchase of title insurance. n some areas of the country, it is customary for the seller to purchase the owner's policy for the buyer, whereas in other areas the owner's policy may be entirely optional.

If you're considering refinancing your mortgage, you may be surprised to see that you are required to purchase a new lender's policy of title insurance. This is because a lender's policy only provides coverage for the life of a loan. When a home is refinanced, the life of one loan ends and another begins. Thus, a new lender's policy for title is required. Because an owner's policy provides coverage for as long as you or your heirs hold an interest in the property, there is no need to purchase a new owner's policy when refinancing.

 

June 11, 2018

Home Buying Process - Closing Costs

Home Buying Process

Closing Costs

Below is an overview of the types of closing costs you may incur on your loan.

Some are one-time fees while others recur over the life of the loan. When you apply for your loan, you will receive a Good Faith Estimate of settlement charges and a booklet explaining these costs in detail.

Loan Origination Fee This fee covers the Lender’s administrative costs in processing the loan. It is a one-time fee and is generally expressed as a percentage of the loan amount.

Loan Discount Often called “Points”, a loan discount is a one-time charge used

to adjust the yield on the loan to what market conditions demand. One point is equal to 1% of the loan amount.

Appraisal Fee This is a one-time fee that pays for an appraisal, a statement of

property value required on most loans. The appraisal is made by an independent appraiser.

Credit Report Fee This one-time fee covers the cost of the credit report which

is processed by an independent credit reporting agency.

Title Insurance Fees There are two title policies; a Buyer’s title policy (which

protects the new homeowner) and a Lender’s title policy (which protects the 

Lender

against loss due to a defect in the title). These are both one-time fees.

Miscellaneous Title Charges

The title company may charge fees for a title

search, title examination, document preparation, notary fees, recording fees and a settlement or closing fee. These are all one-time charges.

Document Preparation Fee There may be a separate, one-time fee that

covers preparation of the final legal papers, including the note and deed of trust.

Prepaid Interest Depending on the day of the month your loan closes, this

charge may vary from a full month to just a few days interest. If your loan closes at the beginning of the month, you will probably have to pay the maximum amount. If your loan closes near the end of the month, you will only have to pay a few days interest. Your first payment will usually be 30 days after the date pre-paid interest is paid through.

Mortgagee Insurance  MI

Premium Depending on the amount of your down.

payment, you may be required to pay a fee for mortgage insurance (which protects the Lender against loss due to foreclosure). You may also be required to put a certain amount for MI into a special reserve account (called an impound account) held by the Lender 

Taxes And Hazard Insurance Based on the month you close, property taxes

will be prorated between you and the Seller. You will also need to pay an entire

years hazard insurance premium upfront (Homeowner’s Insurance). In addition,

you may be required to put a certain amount for taxes and insurance into a special reserve account (impound account) held by the Lender.

June 10, 2018

WHAT IS ESCROW? Home Buying Process

WHAT IS ESCROW?

Escrow is the depositing of funds and documents that establish the terms and conditions for the transfer of property ownership with an impartial third party (Title365) for delivery upon completion of the terms of the escrow instruction. When the parties deliver documents and money to the impartial escrow holder to be held for further delivery until certain conditions have been met, we say the documents are held “in escrow”. We may also say the parties have “opened an escrow”. Each of the principals of the escrow (Seller, Buyer, Lender) will give to the escrow holder written instructions setting out the conditions under which the further delivery is to be made. The purpose of an escrow. The common use of an escrow is to enable the parties in a real estate transaction to deal with each other with less risk, since the escrow holder acts as:

• Custodian for funds and documents.

• A clearing house for payment of all demands.

• An agency to perform the clerical details for the settlement of the accounts between the parties.

TYPICAL ESCROW TRANSACTION.

An escrow begins with the Realtor® opening the order for title work and providing the Purchase Agreement and all executed documentation to escrow. Once received, Title365 prepares a preliminary report. Upon receipt of the preliminary report, an analysis is made to determine the necessary action and documents required to complete the transaction:

• Demands for satisfaction of liens not acceptable to Buyer and/or Lender.

• Documents for recording.

• Instructions and requirements of the new Lender. In most areas, Buyer and Seller instructions are prepared for signature from the information gathered. When all the title and financial requirements are met and instructions from all parties can be fully complied with, the escrow is said to be “in perfection” and can close. Once the financial settlement takes place, documents are recorded and the title insurance policies are then issued.

 

June 10, 2018

Home Buying Process for First Time Home Buyers

buy a home, buying process, home buying, family, house, san diego,homes for sale in san diego

HOME BUYING PROCESS FOR FIRST TIME HOME BUYERS

Buying a home can be complicated but it helps to be prepared for the process in advance. When you are closer to buying a home, you will need to speak with a realtor, you will need to check first time home buyer programs, you will need to check MLS and MLS listings.

Also check your options, what kind of houses for sale you are interested in, and how much you can afford to buy a home. Your options may include buying foreclosure homes, condos for sale, single family houses for sale. Also remember to check homes for sale by owner as well, also known as FSBO, you always need to be cautious when talking to a for sale by owner, always make sure to have your realtor represent you, for sale by owners are not experienced in selling homes.  www.RiteCurb.com provides real estate listings including off market sales, foreclosed homes for sale, short sale homes for sale. There are different type of homes: Town houses, single family homes, condos, twin homes and town homes, make sure what kind of home is a good fit for you before you start looking for homes. Also you want to make sure to find the right area to live in San Diego. It is important to know San Diego real estate market and finding houses for sale in San Diego is easy with RiteCurb.com.

Before starting to seriously shop for a home, consider the following

one-year timeline that’ll help you arrange your finances. The more time you give yourself for this process, the better.

 

Click here for more info:

https://www.ritecurb.com/blog/home-buying-first-time-buyer-realtor/

 

Find foreclosure homes, San Diego:

https://www.ritecurb.com/foreclosures/

 

Feel free to check different neighborhood houses for sale:

 

Houses for Sale in Carlsbad

https://www.ritecurb.com/Carlsbad/

 

Houses for Sale in Oceanside

https://www.ritecurb.com/Homes-For-Sale/California/San-Diego/Oceanside-Houses/

 

Houses for Sale in Escondido:

https://www.ritecurb.com/Escondido/

 

Houses for Sale in Rancho Bernardo

https://www.ritecurb.com/Homes-For-Sale/California/San-Diego/Rancho-Bernardo-92128/

 

A year out (or ASAP)

Get your credit reports. If there are errors on your reports, you will pay a higher interest rate on your mortgage. You might have issues getting a loan. The three major credit bureaus (Equifax, Experian and TransUnion) offer free reports. Scan for suspicious activity, collection accounts for debts you don’t owe and negative marks (other than bankruptcy) that are older than seven years.

 

Obtain your FICO credit scores. 

Your credit scores are three-digit numbers used to measure your creditworthiness. They help determine the rates and terms for your loan. While there are hundreds of different credit-scoring formulas, the majority of lenders use FICO.

 

Consider a credit–monitoring service.

Given how important your credit and credit scores will be in buying a home, many consumers appreciate the early warning if a collector tries to post a bogus debt.

 

Attack your debt. 

Try to eradicate bad debt such as credit-card balances and payday loans which signal that you are living beyond your means. Getting any overspending problems fixed before you buy a home is key home ownership typically involves big costs such as property taxes, insurance, maintenance, repairs, improvements and decorating.

 

Save money. Cut back on luxury expenses and put as much money aside as possible. Think about your dream of homeownership. Ideally, try to have at least a 5% down payment but putting down 10% will give you even more financing options.

 

Switch to automatic bill pay . 

A single, 30-day late payment can knock 100 points off your score so be sure every bill gets paid when it’s due. If you don’t have a reliable bill paying system, consider using automatic debits so payments come directly from your checking account or an online bill-payment system’s recurring-payment feature.

 

6 months out

Research mortgage options. Many people have lost their homes in today’s market because they didn’t understand their mortgage or listened to poor advice. For some, low teaser payments for a more expensive home were enticing but payments increased and they are unable to pay. Understand the risks of the different types of mortgages.

 

Research home ownership costs. Remember that home ownership not only includes your mortgage, it also involves property taxes, home insurance and perhaps homeowners or condo-association fees. You might face higher utility bills, maintenance and repair costs, too. Speak with your homeowner friends so you know what to expect. Hone your saving strategies . A bigger down payment could result in a larger home or a lower mortgage payment. Build up your emergency fund for unexpected home expenses.

 

3 months out

Reduce your credit utilization . Remember: less is better. At least when it comes to the FICO scoring formula. It’s sensitive to how much of your available limits you’re using on your credit cards and other revolving lines of credit. Even if you pay your balances in full every month, the balance that shows on your most recent statement is the formula used. Keep that balance below 30%, or even lower. Don’t open or close any accounts. Until the mortgage process is completed and you’ve moved into your new home, avoid actions such as opening credit accounts or closing old ones that could potentially harm your credit.

 

2 months out

Look into potential mortgage rates . Checking your FICO credit scores doesn’t ding them so order a fresh set and speak to a few mortgage lenders about rates. Don’t apply yet or give permission for your credit to be pulled; just get a feel for what you can expect.

 

Understand the effect of mortgage shopping on your score. Everyone wants to get the best loan rate and terms possible. Each time a lender checks your credit, a “hard inquiry” appears on your credit report and dings your score slightly. Good news is that the FICO scoring formula counts all mortgage-related inquiries within a specified period as one. It is important to do your serious mortgage shopping in a fairly concentrated period of time, typically immediately after you enter escrow.

 

Get approved for a mortgage in advance . 

Pre-approval, in which a lender gives a commitment to make you a loan, is different and more valuable to sellers than pre-qualification, which gives you just an idea of an affordable mortgage amount without any commitment. You are not obligated to get a loan from the lender that offers you a pre-approval letter. Even though a pre-approval involves a hard credit inquiry, the small potential ding on your credit is worth it because you’ll be in a stronger position with sellers.

 

Consider a mortgage broker. 

After you are in escrow, shop for a mortgage. Get referrals from family and friends or look on the National Association of Mortgage Brokers website. Research neighborhoods and agents. Check Internet listings, attend open houses and talk to others to identify a professional to help you in your home search.

 

Once you’re in escrow

Shop for a mortgage. Consider the national mortgage lenders, local lenders and online brokers. The full approval process typically takes four to six weeks so be sure to move quickly.

 

Conduct appraisal, home inspection and walk–through. An appraisal is required for loan approval. An inspection is not required but can alert you to any serious problems before the deal closes. The walkthrough is usually done within 24 hours of the deal closing, so you can make sure that the home sellers have performed any agreed-upon repairs and the place is in move-in condition.

 

Get homeowners insurance. Mortgage lenders require this coverage, and you’ll need to prove you have it at closing.

 

Confirm closing costs. Your “closing” entails signing all loan and escrow paperwork and paying agreed upon amounts, which can include your down payment and your share of legal fees, paperwork costs, property taxes and title insurance.

 

May 29, 2018

Green Building Makes Homes More Affordable

Faced with increasing demand for low-income housing, public housing authorities are finding that investing in green building solutions can make their homes more affordable and more livable.

Seattle Housing Authority, one of the nation's largest public housing agencies, has found a way to cut fuel consumption by 37 percent at a 120-acre redevelopment in West Seattle. Named High Point, the new pedestrian-friendly community features a mix of 1,700 low-income and market-rate properties, plus ample park space, a seniors' village, a neighborhood center, a new medical and dental clinic and a public library.

Tom Phillips, Seattle Housing Authority's senior development manager, says High Point has set a new standard in sustainable green building for housing authorities. "Our design team includes firms that are among the region's leaders in sustainable development, and who share Seattle Housing's passion for building a greener, more affordable and more livable community."

The community features an innovative natural drainage system and a host of energy-efficient and water conservation solutions, such as a Baxi Luna combination heating and domestic hot water wall-hung boiler in rental homes.

"Baxi Luna is an elegant, all-in-one, backpack-sized boiler with tankless hot water capabilities," says Matt Sullivan, the project manager of Mithum, a leader in reduced energy use. "It generates fuel-use savings while helping us to make the most of space limitations. It allows us to fit a stackable washer and dryer in the same closet as the combination central heating and domestic hot water boiler."

An independent study showed that High Point homes with Baxi units recorded total fuel savings of 37 percent. The report also noted that the inclusion of conservation technology, including the Baxi hydronic heating system, makes housing even more affordable as utility rates increase and public utilities and government agencies add new financial incentives for conservation.

Seattle Housing Authority also installed its first Baxi solar water heating system at High Point this spring and expects it will generate additional fuel and cost savings. The renewable energy system is backed up by the Baxi Luna 3 Comfort combination heating and domestic hot water boiler, which is capable of accepting pre-heated water from the solar storage tank.

For more information visit https://www.ritecurb.com/blog/what-look-new-house-home-buying-season/.

May 29, 2018

First Time Home Buyers: The Housing Market's Key Players

First-time home buyers, more than any other demographic, stand to benefit the most in today's real estate market.

In fact, a recent survey commissioned by Move.com reveals that 23 percent of adults plan to purchase a home in the next five years and that more than half of them (53.5 percent) will be first-time home buyers.

Consider that every time a renter buys a home, they make possible a chain reaction of transactions worth many times more than the actual value of the home they purchase. Because first-time home buyers aren't selling properties, they don't put new homes on the market when they buy. As a result, first-time homebuyers reduce real estate inventories and allow existing owners to trade-up or relocate.

The growing number of first-time homebuyers suggests that conditions are finally attracting buyers back despite the critical picture in the overall economy.

In the past, high prices and large down payments made buying a home for the first-time difficult. The right mix of attractive listing prices, tax credits, improved financing and a wide choice of properties seems to be attracting the first-time buyer.

For first-time home buyers looking to be players in today's real estate market, Move.com offers the following tips:

- Research Your Market. All real estate is localized and the key to a successful purchase is to know the market. In fact, the real estate market is so localized that prices among similar homes vary greatly even between neighboring towns.

- Make a list of what you want. Let your realtor know your criteria in order to find homes that meet your needs. You can go to Realtor.com to view homes that fit your specifications. This will give you an idea of what is possible in your price range and in the location you prefer.

- Get pre-approved. Although not a final loan commitment, a pre-approval letter can be shown to listing brokers when you are bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. Lenders can be found in the finance section of Realtor.com.

- Make a decision. Once you find the best home that fits your needs, take action. Home buyers often hesitate, and this could mean you miss the best home that meets your needs. If you have chosen a good mortgage broker and a sharp realtor, you should have the facts to make the right decision.

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