Category Archives: Real Estate

Selling a historic home – San Diego has several, here are some tips

frank lloyd

Overcoming a Recalcitrant Owner

Misty Brownell calls the sale of the Cooke House in Virginia Beach last November “the highlight of my 14-year career.” The 3,000-square-foot passive solar house, completed in 1960, included a 70-foot semicircular great room with a 40-foot sofa designed by the architect, a spa and sauna, and a bank of windows looking out on Crystal Lake. Her challenge was not the house, which was in great shape, or the location, also great, but the 91-year-old homeowner, who was ambivalent about letting it go.

The house had been on and off the market for about 15 years without receiving a single offer when Ms. Brownell, a Realtor with Atlantic Sotheby’s International Realty, received the listing in March 2016. The owner had a magnificent art collection, and Ms. Brownell spent several months convincing him to put it in storage. “With a house of this magnitude, you really needed to remove all that stuff to see the house. This was the work of art,” Ms. Brownell said.

Having succeeded in her request, Ms. Brownell created a video to demonstrate what living in a Wright house might be like. And she did extensive research on the architect, and the market for his houses, which prompted her to lower the asking price to $2.75 million from $3.75 million.

read more at: https://www.nytimes.com/2017/08/18/realestate/living-in-and-trying-to-sell-a-frank-lloyd-wright-house.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news

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San Diego County Home Prices Hit a New High

june home price

San Diego County’s median home price hit another record in June with an imbalance of supply and demand continuing to push costs up, CoreLogic reported Tuesday.

The median home price reached $543,500, increasing 9.8 percent in a year and marking the third month in a row of record-breaking prices.

June’s numbers are still far from the peak of the housing boom. When adjusted for inflation, the November 2005 peak of $517,500 equates to more than $644,000 in today’s dollars.

All types of homes in the county hit new nominal price peaks in June:

  • The median resale home price, considered the most important part of the housing market because it has the most sales, was up 9.2 percent in a year to a median of $595,000 with 2,800 single-family houses sales. The previous peak of $590,000 was set last month.
  • The resale condo price also set a new record of $412,500 — increasing 7.4 percent in a year — with 1,294 sales, $12,000 more than the peak set in April 2005.
  • Prices for newly built homes increased 19 percent in a year to a median of $787,000 with 217 sales. The previous peak of $775,500 was reached in December 2015.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-june-corelogic-20170725-story.html

disclaimer: for information and entertainment purposes only

How to buy a home

The Decision to Buy

Before taking the plunge into the buyer pool, it’s important to consider whether homeownership is right for you.

Rent Vs. Buy?

When looking for a new place to live, the first question you ask yourself will help drive the rest of your decision-making. Should you rent or buy? Buying may seem appealing because you will put an end to escalating rent and can build equity. But the reality of routine home maintenance and repairs can quickly drain a bank account.

In general, whether renting or buying is better for you largely depends on your specific circumstances.

Here are some basic questions to consider when thinking about buying a home:

  • How long do you plan to stay there? If you expect to relocate in just a couple of years, renting is likely a better option.
  • How much home can you afford? If you can’t afford a home large enough to fit your family in a few years, it may be worth it to rent while you save a bit more.
  • What’s on the market? If you can’t find a home you like, it’s likely not worth tying yourself to something you’re unhappy with.

Another consideration: Stretching your budget for that dream home may actually make you miserable, as a growing body of research suggests.

Still can’t decide if buying is for you? Check out The Times’s rent vs buy calculator to dig deeper into the difference in expenses.

If both your lifestyle and the hard numbers point toward buying, the next step is to determine how much home you can afford.

read more at: https://www.nytimes.com/guides/realestate/how-to-buy-a-house

disclaimer: for information and entertainment purposes only