Low-Income Buyers to Benefit for New Programs
The Federal Neighborhood Stabilization Program is expected to introduce several new initiatives at both state and local levels targeted at assisting low and middle income families in the purchasing of foreclosed homes in the hardest hit areas. Read More

Promises2Kids to Benefit from Private La Jolla Concert by Jewel
Former San Diego resident Jewel Kilcher will give a private concert in La Jolla on Monday July, 20 to benefit Promises2Kids; a local charity. Read More

La Jolla Concerts by the Sea Faces Shortfall
For over twenty-five seasons now, the La Jolla Concerts by the Sea have been a time-honored tradition at Scripps Park in La Jolla on the Pacific Ocean. Read More

Decline in Interest Rates Spur Increase of applications
After nearly one month of sluggish numbers, the volume of mortgage applications showed an increase last week. The number of mortgage applications accepted in a week fell to a seven month low point prior to this past week. Read More

County Economic Future Brightens Up a Bit
San Diego County's economic index has risen in May, marking the second consecutive month of improvement. Released June 25 by the University of San Diego, the index tracks a list of leading economic indicators for the county. Read More

Job Transferring Rules Changed by Fannie Mae
The rules have recently been changed by Fannie Mae regarding how income is considered when one partner or spouse is unemployed while involved in a job-related move. Read More

San Diego County Home Prices Show Increase in May
For the past two consecutive months, the median price for a home in the state of California increased. This is the first time this has occurred in almost a two year period. In March of this year, the median price of a detached home (existing) stood at just over $253,000. In April the price was reported at nearly $257,000. These prices continue to show a dramatic decrease over 2008 when the median price was nearly $450,000. Read More

Median Home Price Shows Increase for Two Months
For the past two consecutive months, the median price for a home in the state of California increased. This is the first time this has occurred in almost a two year period. In March of this year, the median price of a detached home (existing) stood at just over $253,000. In April the price was reported at nearly $257,000. These prices continue to show a dramatic decrease over 2008 when the median price was nearly $450,000. Read More

Affordability for Entry-Level Buyers Shows Increase
As of mid-May, the California Association of Realtors reports that the housing affordability index for first-time buyers reached sixty-nine percent, compared to forty-six percent in the first quarter of 2008. Read More

Congress Considers First-Time Homebuyer Tax Credit Expansion
New legislation was introduced on June 10, to congress proposing the expansion of the current tax credit offered to first time home buyers. The proposed new tax credit amount would be fifteen thousand dollars if passed. Read More

How to Respond to an Unexpected Appraisal Result
Here is some information to consider if your home appraisal comes in at an amount which is dramatically lower than the price you agreed to sell your home for. Read More

Mortgage Rates Reach Seven-Month High Point
Freddie Mac reports that this week's higher interest rates have put a damper on applications for refinancing of mortgages. Read More

Some San Diego County Zip Codes are Immune to the Housing Crisis
Home prices throughout San Diego County may have taken a large drop throughout the past year, but there are wide variations among some zip codes in the County. Read More

4 Pointers for the First-Time Buyer Tax Credit
The time is now to take advantage of the current first-time home buyer tax credit which is currently in effect. By considering the following four pointers, first-time buyers can find themselves much better prepared to make educated decisions throughout the important process of buying their first home. Read More

San Diego Water Regulations Begin June 1
The city of San Diego is enforcing new water conservation regulations as of June 1. The city is faced with reduced amounts of water being received from its two main suppliers; the San Diego County Water authority and the Metropolitan Water District. A spokesperson for the Mayor's office stated that the reductions amount to a total ten percent reduction in supply. Read More

UCSD Makes Discrete Job Cuts
The University of California San Diego has over the past few months made discrete cuts to their workforce. The university had trimmed the number of employees by over eight hundred, or five and one half percent of its total number of employees. The cause for the cuts is declines in state funding. Read More

Currently Cancelled, La Jolla Fireworks May be on
An annual tradition has suffered the consequences of the recession. The July fourth fireworks, which are traditionally held at La Jolla Cove, have lost their funding. The local restaurateur and bank have previously made the decision to put the fireworks on hiatus this summer citing rising permit costs and city fees as the prime cause. Read More

Mortgage Companies Break into the Landlord Business
Massive numbers of foreclosures have turned mortgage giants Freddie Mac and Fannie Mae, as well as other large lenders, into major owners of residential properties they never wanted to own. Read More

Real Estate Investment for Agents
Real Estate investing can be a valuable tool for building your estate. An understanding of three key leverage points of real estate is vital to success, especially in a tumultuous market like we have now. Sellers (and their listings) create buyers. Read More

Mortgage Applications See Drop Last Week
The volume of applications for a mortgage fell sixteen point two percent last week. The Mortgage Bankers Association's Index fell to six fifty-eight point seven, down from seven eighty six. Last week, mortgage rates reached their highest point in seven months. Read More

Current Quandary: Should Buyers Lock in Rates?
Right now buyers are wondering if now is a good time to lock in on an interest rate. Interest rates are at their highest levels since February. The question on people's minds is if they should wait to see if the federal government is able to find a way to lower rates. Read More

April and March Show Increase in Pending Home Sales
In data obtained from the Pending Home Sales Index, (a forward-looking index which serves as an indicator) contracts which were signed in the month of April increased nearly 7% to an index rating of ninety point-three. This shows an increase from a reading of eighty-four point six in the month of March, and is also just over 3% from the index reading of April 2008. Read More

Foreclosures Steady, but Still Extremely High
After more than a year of steadily rising, foreclosure numbers leveled off in April. This according to a report released by RealtyTrac. However, the number is still very high and this indicates that many homeowners still face the possibility of losing their homes. There were just over 340,000 households that received a foreclosure notice in April, the highest number since Jan. 2005, when RealtyTrac began reporting the data. The 340,000 homes receiving a notice were up less than one percent from March, but up almost 33% higher than the same month last year. Read More

Interest Rates Increase as Investors Tap Yields of Short-Term Gains
This week, mortgage rates hit a 6-month high point. This increase has occurred largely due to what is known as the yield curve, a gap between the yields on a 2 year Treasury note and a 10 year note. This week the gap widened to its highest ever at two point seven-five percentage points. Read More

Refinancing Slows, Mortgage Volumes Fall
The Mortgage Bankers Association reported that last week, the volume of mortgage applications fell just over 14% down to seven-hundred eighty-six compared to nine-hundred fifteen point nine the previous week when calculated on an adjusted basis. Read More

"Going Green" Doesn't Mean Spending More Money Anymore
"Going green" can be cost effective and in some cases even improve a company's bottom line. Going green can be broken down into three key words: recycling, reusing, and reducing. As an example, recycling one aluminum can generate enough electricity to power a television for up to four hours. An example of reusing: the collection of roof water from a 1-inch rain fall from the roof of a 3,000 square foot house can save almost 1,900 gallons of water. Calculated for an area that typically sees 20 inches of rain per year and you'd have almost 38,000 gallons of reused water. Read More

Tax Credit Loans for Home Buyers Still in Works
A spokesperson representing the U.S. Department of Housing and Urban Development recently commented that recent news reports which speculate that the federal government is showing signs of retreating away from plans to offer first-time home buyer credits are untrue. Read More

La Jolla Group Forwards Parking Motion to City for Approval
The La Jolla Community Planning Association forwarded their plan to add an additional eighty parking spaces to the village city officials for their OK. The group of trustees approved the motion to forward what they have called the "Rainbow Curbs" parking plan forwarded on to the city for review and approval on May 7. Members of the LJCPA had a meeting with San Diego city parking officials on May 13. Read More

Removal of Seals from La Jolla Cove Confirmed by Judge
On Wednesday, May 27, a Superior Court judge ordered the city of San Diego to remove the harbor seals form the Children's Pool in La Jolla Cove. The city was given two weeks to devise a plan to have the seals safely removed. The judge's decision was made based on questions which remain regarding whether or not a previous federal order which prohibited the removal of the seals was still in effect. Read More

UCSD Recipient of Solar energy Grant
In a collaborative effort with UC Davis, UCSD in La Jolla has recently received a state grant of seven-hundred thousand dollars to expedite the use and continued development of solar energy. Read More

New Bill Offers Hope for Distressed Home Owners
A new bill which attempts to instill some hope in to the Obama administration's housing rescue program was signed on Wednesday, May 20. The bill is called "Hope for Homeowners." Read More

Despite Sales Drop in March, Analysts See Sign of Stabilization in Housing Market
An industry report released on Thursday showed home sales fell in March, but experts see signs of stabilizing in the tumultuous housing market. According to the National Association of Realtors (NAR), March home sales came in at an annually adjusted rate of just over 4.5 million. Compared to February's 4.7 million sales, that's a drop of about 3%. Sales in March were down a little over 7% from a year ago and slightly lower than analysts predicted. Read More

Projecting the Bottom for Falling Property Values
Realtors in many areas around the country are bidding higher than sellers' asking prices and coming up short. Sellers are successfully creating bidding wars to drive up prices which are at or near all-time lows. This is especially common in the Southern California area, where many listed homes are getting in excess of 100 bids. Is this indicative that prices in Southern California have hit bottom? Not hardly. Despite the savage bidding wars, prices are still far below their peak during the last housing boom. Values in the Los Angeles area fell more than 30% in 2008, and should fall even more. Taking into account the historical balances of income, housing sales, employment rate, foreclosures, and vacancy rates, L.A. area property values should fall another 30%. Apparently, we have yet to see the best real estate deals. Read More

Why is the Mortgage Rescue Plan Delayed?
Even though the program has $75 billion in funds available to spend, the Obama administration's foreclosure prevention plan is struggling to take effect. Read More

Fannie Mae and Freddie Mac Continue to Face Challenges
Federal regulators stated on Monday, May 18 that both Freddie Mac and Fannie Mae continue to face significant challenges in the wake of the current economic crisis. Both institutions are facing ongoing critical operational, financial, and compliance issues. Read More

San Diego County Property Sales Increased Greatly in Second Half of 2008
In San Diego county, 2008 concluded with a month-over-month increase in the median price for single-family (not new construction) homes. The price increase reported in December of 2008 was the first increase seen in seventeen months. Additionally, year-over-year sales of homes showed an increase in each of the last 8 months of 2008, very positive signs indeed. Read More

March Sees Continuation of Increased Home Sales
Year-over-year, sales of single family, homes (not new construction, re-sale) in San Diego County increased over 48% throughout the month of March, marking the 11th straight month of increases over last year. So far, year to date County home sales have increased nearly 45% over 2008. Read More

Some GOOD News for a Change!
It seems as though every time any of us tune into the evening news broadcast or read a newspaper headline, the "bad news" seems to increase all our fears regarding our economy. The news media has gone into full throttle mode regarding all this and suddenly words like "meltdown" and "Crisis" fall on our ears on a daily basis. Read More

Median Home Price Dropped Nationwide in First Quarter '09
Nearly 9 out of ten United States cities saw a decrease in the average median price of a home throughout the first quarter of 2009. First time buyers seeking out bargains tended to dominate the markets. Read More

First-Time Buyer Tax Credit May be used for Down Payment
The Secretary of the United States Dept. of Housing and Urban Development, Shaun Donovan stated on Tuesday, May 12 that the FHA (Federal Housing Authority) will allow its lenders to permit home buyers to put the current $8,000 tax credit towards the down payment of their home purchase. Read More

Signs of Hope for the Struggling US Economy
Home prices rose almost 1% from January to February, the first time that's happened in two years. This is a good indicator that lower interest rates may be helping to stabilize property values. The Federal Housing Finance Agency (FHFA), reported that home prices fell 6.4% in February from last year, the smallest drop in six months. The gain over January's numbers beat analyst predictions as they were expecting a minimal decline. Typical mortgage rates have fallen 1.5% in the last six months, boosting affordability of homes and condos. Read More

School Trustee Suggests that San Diego Beach Communities Break from District
Trustee John de Beck has made the suggestion that the beach communities of San Diego break away from the SDUSD- San Diego Unified School District and create their own district. A plan was unveiled which include schools on the Point Loma peninsula, the beach communities, Clairemont and adjacent communities which would create the San Diego Coastal Unified School District. Read More

State Receiving Increased Complaints on Loan Modification Firms
The number of complaints filed against Loan Modification Firms to the state has dramatically increased. Read More

Rope Barrier at La Jolla cove Children's Pool Set to Come down
The legal proceedings continue as the date of May 15, 2009 has been set to take down the temporary rope barrier which blocks the general public from the harbor seals which have made their home at the La Jolla Children's Pool. May 15 marks the end of the seal's annual pupping season. Read More

Short Sale Sellers being chased by Lenders
More and more lenders are going after mortgage holders who opt to sell their properties for an amount less than they currently owe. This transaction is commonly referred to as a "short sale". Lenders are going after these types of sellers in order to recover more of the difference between what they owe on the home and the amount that the home sold for. Read More

Moratorium on Appraisal Rules Sought by NAR and NAMB
Both the National Association of Mortgage Bankers (NAMB) and the National Association of Realtors (NAR) are lobbying hard to postpone the implementation of new Freddie Mac and Fannie Mae rules which govern real estate appraisals. Read More

New Tax Credit for First-Time Buyers Enjoying Enormous Popularity
The Internal Revenue Service estimates that more than 1.3 million homeowners will take advantage of the new federal tax credit for first-time buyers. This means that it's very likely the goal of 2 million homeowners helped set by the Administration will be met or exceeded by the November 30 deadline. Read More

Mortgage Modification Bill Faces Opposition in Senate
Known as the "cramdown", the bill that would allow judges to modify the home loans of owners in the midst of bankruptcy, now moves to the U.S. Senate and faces additional troubles. Read More

Preliminary UTC "Super Loop" Route Unveiled by SANDAG
During the April meeting of the University Community Planning Group, officials of both SANDAG and MTS announced plans for the launching of a prototype route for the Super Loop bus route this summer. This announcement moves up the date from an anticipated date of fall of next year. Read More

Bottom of Housing Market is near say Housing Analysts
Last week, while attending the semiannual Construction Forecast Conference both market analysts and home builders predicted the end of the housing decline was in the near future. Read More

California Statewide Home Sales and Median Prices for March 2009
Statewide, an estimated 36,215, resale and new homes were reported sold in the month of March. That figure is up just over 47% from March of last year. For the last nine months, sales have shown an increase on a year-over-year basis. Read More

Home Affordability Gains Strength in Most Markets
Economists at PNC Financial Service Group and HIS Global Insight discuss in their quarterly report the home prices have now dropped to a point where the typical American household and now afford to purchase. Read More

First-Time buyers Increase While Existing Home Sales Slip
The month of March saw a decline in the number of existing home sales throughout the country. The National Association of Realtors (NAR) also reports that first-time buyers are taking advantage of low mortgage rates and available tax credits. Read More

Federal Reserve Officials Say the Worst is over
According to Federal officials, the worst of the economic crisis is behind us. These opinions were shared during a conference held on April 17 at Vanderbilt University. Read More

Just Launched: Federal Housing Rescue Plan
This week, the Obama administration's new program intended to rescue home owners in distress went into effect. The program was announced back in February. Read More

Friends of La Jolla Shores Organizes Community Playground Build
The Friends of La Jolla Shores has organized a Playground Community build which will take place April 30 - May 2. Read More

Fed Chief and President Both Cite Economic Progress
President Obama on April 14 pointed out sign that our country's current recession is showing signs of ebbing. Major factors include: a strengthening real estate market, recent auto industry rescue efforts and the recapitalization of some major U.S. banks. Read More

New La Jolla Parking Plan Proposed
During a recent meeting, members of the La Jolla Community Planning Association (LJCPA) discussed a parking proposal for the village of La Jolla which is intended to add spaces. The plan could curtail future intervention on this outstanding issue by the City of San Diego. Read More

20 Green Events Make up UCSD Earth Week Celebration
UCSD, one of the country's greenest universities will celebrate Earth Week, April 20-25. The unique and beautiful campus located in La Jolla, will host 20 events which have been dubbed "Extreme Green". Events include a trash sort, a "green" job fair, and an eco-friendly fashion show. Also included in the festivities will be a green film festival of student's work and a sustainability awards ceremony. Read More

Mortgage Modifications Being Questioned by Economists
A recent study conducted by the Boston Federal Reserve shows that buyers are more likely to fall into default on their mortgages due to the loss of a job than because of the terms of their existing home loans. Read More

Mortgage Rate Update
The average rate on a 30-year fixed mortgage dropped to 4.78%, down from 4.85%. Rates on 15-year fixed rate mortgages fell to 4.52%, down from 4.58%. Rates on a 1-year adjustable rate mortgage fell to 4.75%, down from 4.85%. Read More

Annual Little Italy ArtWalk in Downtown San Diego has New Sponsor
This year's ArtWalk in Little Italy is now officially sponsored by Mission Federal Credit Union. 2009 marks the 25th year of this wide-ranging outdoor free event held on the streets of Little Italy, one of downtown San Diego's most vibrant and unique neighborhoods. Read More

Government Officials Crack down on Mortgage Modification Scam Artists
The government is getting a lot tougher on scam artists who prey upon desparate home owners that are faced with the tragedy of foreclosure. Read More

Top Economists State the Recovery has started
Mark Zandi of Moody's Economy.com believes that economic recovery is all about making people in this country feel confident once again. Read More

The Housing Market: Where it is headed
Over the past month, the market received an important indicator as to which direction conditions are headed in: applications for new mortgages and loan refinances surged throughout March. Read More

Mortgage Protection Plan Launched by C.A.R.
On April 2, the California Association of Realtors (C.A.R.) started the California Association of Realtors Housing Affordability Fund Mortgage Protection Program. This program is being offered to first-time home buyers and persons who have not purchased a home in the past three years. Read More

FBI Instructs Lenders to Retain Records for Longer Periods
In order to make the prosecution of fraudulent lenders an easier task, the Federal Bureau of Investigation has recently called on Congress to enact legislation which would require lending institutions to retain all records for at least a ten year period. Read More

Senate Testimony: the FHA, Essential to Housing Rebound
The primary source for much of the mortgage funding for many in America is The Federal Housing Administration. This agency plays a vital role in assisting in the stability of the housing market. This message was delivered to the Senate Appropriations Subcommittee on April 2 by representatives of the National Board of Realtors. Read More

Rampant Foreclosures Lead to Investment Opportunity
Even as the government steps in with measures to prevent foreclosures, February saw more than 290,000 new foreclosures filed, the 3rd highest one-month total since RealtyTrac began tracking the number in 2005. The data includes auction sales, bank repos and default notices. During the last 3 years, there have been more than 4 million foreclosures in the US. Investors seeking to build equity have always been attracted to foreclosed-on properties. Such property can usually be acquired for 20 to 60% off of market value. Experts say that investors looking to buy properties, spruce them up and re-sell them will be hard pressed to turn a profit. Those investors with the ability to sit on the properties, whether renting them or holding out until the market improves, should be very excited about the opportunities available today. A good investment strategy is to acquire properties in areas where prices are very low, yet demand for rental properties remains high. Read More

Five Landscaping Tips that will Wow Home Buyers
Sellers in today's real estate market need to work harder to entice potential buyers to consider their homes. Here are five tips: Read More

Five Reasons to Buy a Home Now
Little by little, the housing market is improving. Below are six reasons why it is still a good time to buy a home: Read More

Now is a Good Time to Remodel
The time is ripe to make those remodeling dreams reality. Homeowners who contact contractors now to bid on and schedule remodeling work on their homes will have the edge on getting the best bids. Contractors want to get a pipeline of jobs lined up for the coming months; they win by getting the work they need, and you win by getting the project done a good price. Read More

Enhance Your DIY Projects- Join a Club!
In the midst of this recession, homeowners are joining Do-it-Yourself (DIY) clubs to get needed tasks completed. Read More

Recent Survey Shows Americans Still Eager to Purchase
A recent survey conducted by Move, Inc. shows that upwards of twenty-five percent of adults state that they plan to buy a home within the next five years. Of those surveyed, one half would be first-time home buyers. Read More

February Home Sales Driven by First-Time Buyers
In a recent report released by the NAR (National Association of Realtors) figures show that sales of existing homes increased throughout the month of February, largely from purchases made by first-time home buyers. In general, home sales activity continues to run relatively soft as the market continues to be impacted by additional layoffs and more potential buyers waiting to see how the recent passage of the economic stimulus package affects the market. Read More

Freddie Mac Asking For Help....Again
Mortgage giant Freddie Mac, suffering from the current US housing crisis, announced Wednesday it will request over $30 million in Federal Aid. This after it posted an enormous loss last year in excess of $51 billion. Freddie Mac joins the other mortgage giant, Fannie Mae who recently requested almost $16 billion in aid after losing more than $59 billion last year. Both companies were seized by the government in the fall and are vital to the overall health of the national real estate market. Combined, the two own or guarantee over 50% of the nation's mortgages. The Treasury Dept. has promised aid for the companies up to 400 billion dollars. Many experts predict the companies will remain under the government's control permanently. Read More

New Tax Credit Available to Qualified Home Buyers!
If you are a potential home buyer and are currently on the fence about whether or not to buy, read on. Read More

Loan Limits on FHA, FNMA, and FHLMC in San Diego Return to 2008 Limits
In 2008, loan amounts up to $697,500 were insured by FNMA (Fannie Mae), FHA (Federal Housing Administration), and FHLMC (Freddie Mac). That amount was dropped down to $546,250 on loan closures which took place after January 1 of this year. Read More

The Home Owner Affordability and Stability Plan: How it can help you
The Obama administration has recently created a new plan intended to assist homeowners who are faced with foreclosure. The plan is called the Home Owner Affordability and Stability Plan. This new plan offers a lot of assistance to homeowners who are in or are in danger of losing their homes to foreclosure. The plan helps families who are currently delinquent on their payments, it offers assistance to those who are current, yet their homes have devalued to the point of being dangerously upside-down in the value of their loan, and it also offers aid to those who desire loan modifications, before they get in trouble. Read More

Six Reasons to Purchase a Home in 2009
1. Real Estate cycles typically last ten years. The most recent bottom of the market years were 1960, 1970, 1980 and 1990. The last market upswing began in 1998, and hit its peak in 2005- just seven years into the cycle. Given the state of our current cycle, the market should have bottomed-out and should be on its way to a more normal market. The NAR (National Association of Realtors) has reported increases in home sales from November to December of six point three percent. From December 2007 to December 2008, an overall increase of two point one percent was seen. These numbers reflect a modest rebound of the market. Read More

Strong Opinions Shared by Former Fannie Mae CEO
When the Federal Housing Finance Agency put both Fannie Mae and Freddie Mac into conservatorship in 2004, Dan Mudd was ousted from his position. Read More

Home Resales on the Decline at End of Last Year
The number of Americans who signed on to purchase previously owned houses fell far short of predictions in January as the housing crisis worsens entering its fourth year. The pending homes resales index 7.7 % after a gain of nearly 5% in December according to a spokesperson for the National Association of Realtors. Read More

Real Estate Market On the Rise
In many areas across the country housing sales are seeing a dramatic increase as prices continue to decline. One city in California, Fairfield saw a 226% rise in home sales last quarter as compared to '07 as the average sales price fell 19% to $179k according to American CoreLogic, a housing data analytics company. Many 1st time buyers are entering the market now. Read More

Mortgage Bankruptcy Bill Passes House
Legislation which allows bankruptcy judges to extend the terms of, trim interest rates , and in turn lower the principal owed to lenders by bankrupt borrowers was approved by the U.S. House of Representatives on Thursday, March 5. Read More

Many Californians feel Abandoned by Recent Foreclosure Plans
As it stands, the current foreclosure relief program drafted by President Obama's administration limits refinancing help to homeowners which owe more than one hundred five percent of what their homes values are. Read More

Recent Survey Shows American Dream is still Alive and Well
It appears that the classic American Dream of homeownership has been undeterred by the present slowdown of the housing market. Both current homeowners and potential home buyer alike agree. Read More

Obama's Tax Credit Designed to Encourage First-time Home Buyers
President Obama signed a bill this week which includes a provision to encourage families to buy their first homes. It calls for a tax credit of $8k or 10 percent of the home's value, whichever is less. The credit can be claimed on the 2008 or 2009 tax return. The really nice part of this credit is that it is 100% refundable, meaning if you’re already due a refund, the $8,000 will be added to it. Read More

Fannie Mae to Draw from Federal Line of Credit
Feeling the impact of the struggling US housing Market, Fannie Mae reported Thursday it would have to dip into its 200 billion dollar federal line of credit after suffering a loss of nearly 59 billion in 2008. They also said that an end to their troubles does not appear close at hand. Last quarter, Fannie Mae claimed 25.2 billion in losses which represents a per-share loss of $4.47. Slightly lower than their third quarter loss, it is the sixth straight quarter in which the financial giant reported a loss. Read More

Obama Budget Plan Places MID at Risk
The NAR (National Board of Realtors) reports that there is a provision in President Obama's budget outline which would place a limit on the MID (Mortgage Interest Deduction). This limit would impact every home owner with a mortgage in the U.S. Read More

Survey Shows: Americans Want new Transit Options over New Roads
A recent survey which was sponsored by both the NAR (National Association of Realtors) and an organization named Transportation for America asked Americans if they wanted to see more transit options/improvements implemented or additional roads built. The results showed an overwhelming majority desired to have more transit options. Read More

Limits Released on FHA and Conforming Loans
Based on changes enacted last week as part of the economic stimulus legislation, the U.S. Dept. of Housing and Urban Development has recently released new FHA and conforming loan limits. Read More

Resurgence Evident in South Coast of California's Home Market
With entry-level homes in the area averaging over 750 thousand the South Coast California market is showing signs of a resurgence. The area has a chronic shortage of entry-level homes such as townhouses, condos and small two and three bedroom homes. Read More

New Tax Credits Aim to Encourage Home Buyer
Now is a good time for prospective home buyers. In addition to the existing federal tax credit of eight thousand dollars for those purchasing their own home, California has passed legislation allowing an additional credit of 5% of the home’s value up to ten thousand dollars to home buyers, be it their first home or not; and is available to all home buyers regardless of income. The new tax credit will be available from March of this year to March of 2010 to anyone purchasing a new home in which they will be the first to reside. Read More

Housing Affordability Index Shows Gains Locally, Nationally
The latest housing affordability Index offered our area a ray of hope as it nearly hit the 50% mark for the first time in 15 years. Read More

Economic Stimulus Plan's Potential Real Estate Impact
Here is an outline of which factors of the Obama administration's 2009 economic stimulus plan which involve the housing market. Read More

Jumbo Loans are Available, Yet Tougher to Obtain
Unlike two years ago, jumbo loans are currently not that easy to obtain. To qualify, lenders state that jumbo loans are available if borrowers possess the right level of income, sufficient down payment, and high enough credit score. Read More

Home Values - House to vote on Thursday
In just a couple of days, the House of Representatives will vote on a bill allowing bankruptcy judges to alter current home loans, by adjusting current home values. Read More

Obama's Housing Rescue Plan
The Obama administraion is putting aside seventy-five billion dollars in order to try and save the housing market. The rescue plan will focus on keeping homeowners in their homes and will help negotiate lower loan terms for those facing foreclosure. Read More

Downtown San Diego Building May Become First to Fall
A downtown San Diego building, the Equitable Building, is in financial crisis mode. The group that owns the landmark building is doing everything they can to keep the property. The building boasts thirty-three stories and is currently, only have full. Read More

Amended Appraisal Regulations Draw Fire
As of May 1, 2009 all responsibility for the managing of home appraisal will change over to a middleman known as AMCs, or appraisal management companies. Read More

Home Foreclosures placed on Hold While Stimulus is Finalized
Lenders are curtailing on foreclosures as they await the outcome of a finalized economic stimulus package. Read More

Government Stimulus Plan Finalized With Alterations to Tax Credit
The House of Representatives along with the U.S. Senate finalized details of the current economic stimulus plan. The $790 billion plan to revive the waning economy was hammered out without the proposed repayment feature on the home buyer tax credit portion of the bill. Read More

La Jolla Residents Reminded to be Cautious When Kayaking the Cove
Need proof not to mess with the La Jolla Cove? Last weekend a young boy and his uncle were kayaking in the area and got a little to close to the cave in La Jolla Cove, near Emerald Cove. The waves in this area can be quite hostile and apparently when the two went to take a closer look at the cave, the waves came in and prevented them from returning to the safety of the ocean. Read More

Rare Blue Whale Washes Up in La Jolla
The dead body of a blue whale was discovered on Fiesta Island. The whale was about to begin drifting to La Jolla, but the body was towed away before it could do that. The body was already beginning to smell before it was hauled up on the beach using a giant net. Read More

Credit Report Errors to look out for
People will often view ads on television or print advertising companies that provide a service to make credit problems or bad debt disappear off of individual credit reports. Read More

Lower Interest Rates are Just a Start of what needs to be done
Current lower interest rates will help the current housing crisis, but the government needs to do more in order to properly revive the overall market. Read More

Experian Curtails Access to Credit Scores at MyFICO.com
The credit bureau Experian has discontinued the offering of credit scores previously available at MyFICO.com. Credit scores from the two other major credit reporting bureaus, Equifax and TransUnion, will still be available. Read More

Possible Fifteen Thousand Dollar Tax Credit Added to Stimulus Package
Tonight President Obama spoke about the urgency of passing the stimulus package. If all goes well, we may see some results from his speech in the next couple of days. One of the exciting details that was recently added to the stimulus package was the possible tax break that home buyers may receive. Read More

Ideas for Downsizing your Home
Many people are considering downsizing their homes in light of current economic times. This can either be a traumatic or positive experience for homeowners, largely depending on their individual circumstances. Below are five suggestions to make the downsizing process run smoothly and with less stress. Read More

Pondering the Effect of the New Administration on the Real Estate Market
With only a couple of weeks under their belts, it is rather premature to pose any specific forecasts regarding the new administration's impact on the current market. Read More

San Diego County Foreclosures Decrease
The fourth quarter of 2008 showed a nearly 10% decrease in San Diego home foreclosures when compared to 2007. Across the state, mortgage default numbers dropped to their lowest number in more than a year. Read More

December Shows Strong Gains in Existing Home Sales
Sales of existing homes displayed an unexpected increase while available inventory declined. Information being reported by the NAR (National Association of Realtors) states that the real estate markets of the west led the way. Read More

National Home Sales Revealed
In the last month of 2008, home sales, in the United States, fell nearly fifteen percent to a low that has never been seen before. Overall, the year had almost a thirty-eight percent drop in home sales. Read More

Myths Regarding Home Loan Modification
A list dispelling the top five myths regarding home loan modification was recently released by the Federal Loan Modification Center. The list is intended to educate distressed home owners who are facing the prospect of losing their home to a foreclosure. Read More

Pondering the Effect of the New Administration on the Real Estate Market
With only one week under their belts, it is rather premature to pose any specific forecasts regarding the new administration's impact on the current market. Read More

Current Home Design Trends Point to Gray as "In"
Trend watchers are seeing the interior design world place increased emphasis on the traditional: wingback chairs with updated fabrics- even the nail heads are back in vogue. The hot new "cool" color trend is gray, to add a soft backdrop for a movement towards more natural textures. Read More

Alternatives to Buying a Home without a Fixed Mortgage
As it becomes more difficult to obtain a conventional bank loan, an increasing number of prospective home buyers are looking into financing options other than the traditional fixed-rate mortgages. Read More

The Today Show Says San Diego Real Estate is Already Showing Signs of a Rebound
Here's some good news that was discussed recently on the Today Show. The focus was on some of the real estate myths that are out there for buyers and sellers. Several topics were discussed, but the one that stood out was when they were talking about how some people think that now is the worst time to try and sell your home. The myth was debunked by saying that it was not necessarily true for all markets. They went on to say that markets that were hit the hardest like Phoenix, Las Vegas and yours truly, the San Diego real estate market are already rebounding and that if you have been wanting to upgrade your home, now maybe the right time. The logic behind their reasoning is even if you take a loss on your current home by selling it now, you will be gaining when you purchase your new home by getting it at a great price. Read More

San Diego Real Estate Loses More Than 1500 Workers in 2007
California's unemployment rate jumped more than nine percent in December. Due to a drop in consumer spending and the previously stagnant housing market, the jobless rate sunk to its lowest level in nearly fifteen years. Throughout the state of California there were almost eighty thousand employees who lost their job in December alone. Unemployment average for the United States was a bit over seven percent in December. Read More

Recent Survey Shows Americans Want Transportation to be a Priority
80% of American citizens feel that transportation and other types of infrastructure spending should be a part of any economic stimulus package. Results found are from a recent survey which was sponsored by the National Association of Realtors and an organization named Transportation for America. Read More

Mortgage Rates Continue to Drop
Freddie Mac reported on January 19 that the average rate on a 30 yr. fixed fell to 4.96% this week. This is down from a previous record of 5.01% which was established just last week. Rates have fallen for the past 11 weeks. Read More

Proposed Tax Credit Changes Could Boost Home Sales
The National Association of Realtors (NAR) supports changes in tax credits which would offer eligible home buyers a tax credit without a repayment feature. The NAR believes that this change would be a great boost to home sales and in turn help to reduce the amount of inventory clogging the market. Read More

Median Home Prices Continue Their Fall in Southern California
Home prices continued to drop in Southern California through the end of last year. 2008 ended up being at average prices last seen in 2003. The median price for a home in Southern California declined almost forty percent compared to the previous year. Read More

Housing Bidding Wars Reappearing in San Diego
A report came out the other day stating that there are certain markets that are beginning to see a lot of activity and even seeing buyers beginning to compete with one another for a home. One of the markets detailed in the report was, you guessed it, the San Diego housing market. Read More

Foreclosure Update for US & California
There were more than two million homeowners that had to go through some form of foreclosure in 2008. These numbers are up over eighty percent compared to 2007. Read More

Report Predicts Housing Market surge in the New Year
The outlook for 2009 is a good one for the housing market according to ForeclosureS.com. Read More

Bill Focuses on Foreclosures and Housing Market Stabilization
On Friday, January 9, the U.S. House of Representatives was introduced to a bill which focuses on the need to stabilize the housing market. This bill marks the first big step towards an economic recovery. Read More

Nonprofit Organization Calls for Loan Modification by Lenders
A nonpartisan research firm, The Center for Responsible Lending, released a report on Thursday, January 8. The report urges lending organizations to increase the modification of loans which were issued to subprime borrowers. The report stresses this need to control further economic damage. Read More

Real Estate May Still Be the Only Good Investment
The news that came out of the stock market today reminded us that we are not out of the woods yet when it comes to the financial crisis, nor the housing crisis, for that matter. Some experts are claiming that the market will begin to heal around the middle of 2009, but some are saying that we will feel the effects of the current state of both markets for a couple of years. Read More

La Jolla Institute Receives Five Million Dollars
The Glenn Foundation has given five million dollars to the Salk Institute, based in La Jolla, California. The money will go towards an establishment that will focus on the effects of aging. The idea is to look at aging from a molecular level and its foundation will be the top scientists from the Salk Institutes from around the country. Read More

Commercial Real Estate to Becoming Bailout Focus
Commercial real estate, along with municipalities and the auto industry, will see some aid from legislative moves to add more rigid conditions to the governments billion dollar bailout. A new set of the more rigid conditions, or at least the outline, is expected to be released by the day's end. So far, approximately half of the seven hundred billion dollar bailout budget has already been spent. The more strict guidelines are being proposed to help monitor the remaining money and to ensure that it goes to the right sectors. Read More

La Jolla Golden Triangle Rotary Club Donates Ice to San Diego Firefighters
The La Jolla Golden Triangle Rotary Club has announced that San Diego firefighters will be receiving ice machines to help keep them cool when fighting fires. Read More

Housing Market Outlook for 2009
Recently, someone asked me, "How will the housing market do in 2009?". Now I admit that I cannot see into the future, however, some analysts are predicting that this year may not be as bad as some are forecasting. Many even believe that the market will completely bottom during the first half of the year. Fact: If you have been waiting for the right time to buy a home, home prices have fallen more than twenty percent since '06. Fact: As I talked about the other day, rates on a 30 year fixed are at multi-year lows and we will probably see more incentives coming once Barack Obama takes office. Read More

Interest Rates on 30 Year Fixed at All-Time Lows
For nine straight weeks, interest rates on a 30 year fixed mortgage fell. The latest drop is the lowest we have seen in nearly forty years, falling a little more than five percent for the week. In fact, companies like Freddie Mac have not seen these levels since they began the Primary Mortgage Market Survey in the early seventies. Futhermore, this is the third back to back record low for falling interest rates. Read More

Chula Vista Makes Top Ten List of Most Boring Cities
Forbe's magazine has published a list of the ten most boring cities in the nation. The list consists of cities that are adjacent to more established metro areas and grew rapidly during the recent housing boom. These cities are now talking points in conversations due to the increasing foreclosure rates these areas are now experiencing. Read More

Foreclosures on the Rise despite Increased Loan Modifications
A report published December, 28 by the federal Office of the Comptroller of the Currency along with the Office Thrift Division stated that mortgage delinquencies and foreclosures continue to increase nationwide. Read More

Ozone Pollution Worst in Los Angeles, San Diego not in Top Ten
A recent report filed by the American Lung Association rank U.S. cities which are most adversely affected by 3 types of air pollution; San Diego California did not make the top ten. The three types are: year-round particle pollution, ozone pollution, and short-term particle pollution. Read More

Author Speculates if Aging Baby Boomers will Alter Housing Trends
Matt Thornhill, co-author of the book "Boomer Consumer: Ten New Rules for Marketing to America's Largest, Wealthiest, and Most Influential Group" predicts that boomers will be a growth industry for the next two decades. Read More

Fannie Mae Tightens Up Lending Rules on Condominiums
Merry Christmas everyone! Stricter standards have been set by Fannie Mae and for once, California doesn't lead the way, but Florida does. Read More

Despite More Consumer Protection, Real Estate Fraud Increases
Fraud in the real estate market is on the rise, despite current aggressive response from federal regulators. Read More

Lighting of the Menorah in La Jolla Today
To mark the beginning of Chanukah, there will be a large menorah lighting by the Chabad Center in University City. The lighting will take place today at 4:30 at the Westfield UTC. Read More

Federal Reserve Makes History, Rates 0 to .25
As most of you know by now, the Fed made history this week by reducing key interest rates (the rate that banks will charge on another) to an all-time low of 0 to .25 percent. There were hints that this would transpire, after the last cut that brought the target rate down to one percent in October. Previously, the one percent rate was the lowest it had ever been and only seen once before in the last fifty years. The Fed also said that it planned to keep the rate at very low levels. In addition, the Federal Reserve assured they are doing all they can to try and fix the economy, but the move made clear that the economy has continued its downward trend. Read More

Fannie Mae Helps Tenants Affected by Owner Foreclosure
Fannie Mae announced on December 15 that tenants affected by owners who go into foreclosure will be allowed to remain in the homes and avoid eviction. Read More

Sales Increase Where Prices Have Tumbled
Across the country real estate sales are seeing an increase in markets where home prices have experienced a decline. The new wave of sales is very different from before the housing bubble burst. Read More

Area Factors Point to End of Housing Meltdown
These days it may be hard to overlook all the negative news surrounding our nation's economy. With unemployment on the rise, Wall Street riding a roller coaster, and Detroit asking for bailouts, it is hard to pay any regard to even the slightest bit of good news. Read More

Investors and First-Time Buyers Beginning to Stir in California Real Estate Market
It appears that home prices in some parts of California have dropped so much that we are beginning to see a different type of buyer. Families that are making an average salary are once again able to afford to buy a home. Read More

La Jolla & Sand Diego Schools, Some of the Best in the Nation
La Jolla High School leads the way, compared to other San Diego schools, when it comes to the number of advanced classes offered, with an astounding twenty-three. Students living in the higher priced real estate markets in San Diego, seem to have a scholastic advantage when it comes to options. However, the San Diego Unified School District is working on a plan that would increase the minimum number of advanced placement classes to ten throughout San Diego high schools. Read More

Unfortunately, Even Mortgage Modification isn't Working
Some troubled homeowners that have been able to modify their mortgages are still trying to find their way "out of the woods". Read More

Mortgage Rates Fall to Lowest Levels since January; Jumbo Loan Deadline Nears
Interest rates on 30-yr. mortgages dropped last week to their lowest level since January of this year. This drop comes as a result of the government's launching of sweeping new efforts to help stabilize the troubled U.S. housing market. Read More

Perhaps it is a Good Time to Think About Buying a Home
There is speculation that in the next five or ten years when this current economic crisis is behind us, and home prices have regained strength, that now was the golden age for the first-time home buyer. Right now could be the chance of a lifetime for those individuals that are considering buying a home that are fortunate enough to have their financial resources in order: enough savings for an adequate down payment partnered with high FICO scores. Some analysts speculate that the time to buy is when economic pessimism is at its peak. The point of peak pessimism may be closer than we think; in many areas of the country home prices have dropped to drastically low levels; couple that fact with historically-low interest rates and the time to buy may not be more opportune. Interest rates are currently near 5.5%, and there is suggestion out there that the federal government may attempt to drive the rate as low as 4.5%. This would truly be an historic opportunity to lock in such a low rate for the next three decades. Read More

Home sales in California Increase
The California Association of Realtors recently reported that home sales within the state of California showed an increase of 117.1% in the month of October over the last year. These high sales are in part due to the falling median price of a home, which fell 39.9% on an annualized basis, 552,750 homes sold in October, and the highest rate since the fourth quarter of 2005. Increased sales were generated from areas with a higher percentage of distressed (foreclosure, short sales). Read More

Mortgage Workout Programs are Available
Homeowners who are currently in default or are in danger of falling behind on their mortgage can look for assistance from a variety of sources now available to them. Read More

Mortgage Applications Double as Interest Rates Tumble
Last week, recent government bailouts led to falling interest rates, resulting in a 112.1 percent increase in mortgage applications on a seasonally-adjusted basis from the prior week. Read More

Economists Debate when Home Prices will Rebound
A survey was recently conducted by the Wall Street Journal regarding the status of home prices in the U.S. The Economists surveyed were in agreement that prices of homes in this country will not "hit bottom" until the third quarter of 2009- at the earliest, with a strong possibility that the current downward trend could continue into 2011 or 2012. At that point prices will likely begin to rise once again, however not at the rate which was seen in the past ten years. Instead, the Economists surveyed feel that prices will increase at a rate hovering around one percentage point higher than the rate of inflation; while others see prices increasing as much as four percent over the next 20 years. Read More

Firm Takes Over Properties in San Diego and Southern California
It has been confirmed that a developer out of Texas has taken possession of more than fifty office buildings in Southern California. The value of the real estate is around one and a half billion dollars. The Texas developer was forced to take over the properties when the previous owner had not been able to make anymore payments. Read More

Fed says, New Interest Rate Cuts Not Out of the Question
The Federal Reserve continues to state that they are open to even more interest rate cuts, however, they are warning that by doing so in the near future might turn out to be fruitless due to the weak economy. In addition, they said that the economy is likely to remain in a weakened state through part of 2009. Read More

Home Ownership Does Not Come With a Manual!
Research shows that educated home owners tend to be surviving the current housing crisis. Data shows that when buyers are schooled as to the possible surrounding issues of homeownership; those buyers have a much greater chance at continuing to be home owners, in spite of the recent housing market and mortgage crisis. Read More

San Diego County home sales hit brisk pace as prices continue to drop
Qualified buyers should consider entering into the housing market now, as they will find the affordability rate of a home in this county the best it has been in the past 9 years. October home sales in San Diego County were the best in the past three years. The downside is that the average median price of a home hit a 6-year low of $323,500. October was the 4th month in a row that home sales showed an increase. This follows a 4-year period of sluggish sales. Read More

Plan to Jumpstart Lending Unveiled by Fed and Treasury
The Treasury Dept. along with the Federal Reserve announced on Tuesday, 11/25 their plans to pump hundreds of billions of dollars into the struggling economy. The intention of this cash infusion is to jumpstart lending for mortgages and consumer debt which has been frozen by many of the nation's banks. Read More

La Jolla, CA - Scripps Institution of Oceanography Expansion Nearly Complete
First off let me start by wishing everyone a Happy Thanksgiving from La Jolla. A new state-of-the art conference center is nearly completed on the ocean-front campus. The new center will be home to major meetings which will discuss such timely topics as sea life and climate change. Read More

San Diego Real Estate and National Home Sales Showing Affordability Improving
Home sales in San Diego County have shown an increase for the past four months. Sales figures are from October of this year. When compared to the previous year, sales were up a whopping 97.5 percent. When measured year-to-date, home sales are now up 5.8 percent. Read More

Parade and Festival mark the start of the Holidays in La Jolla
A wonderful holiday tradition takes place on Sunday, December 7 in the village of La Jolla. The 51st annual La Jolla town Council Christmas Parade will beckon the locals from the nearby hills and beaches to ring in the holiday season. The theme of this year's parade is "History on Parade," in recognition of the importance of the La Jolla's rich history and tradition. The parade will run from Girard Ave. to Prospect Street to Draper Avenue and kick-off at 2 PM. Read More

U. S. Treasurer Paulson Urges Banks to Offer Homeowner Assistance
Some new programs are available to home owners who are current with their mortgages, yet in danger of losing their homes to re-adjusting loan rates. Read More

Children's School in La Jolla to Expand
The Children's School in La Jolla is a non-profit, private school. The property on which the school sits is leased from the San Unified School District. The school was for many years a public school. The school unveiled plans to expand 6th - 8th Grade classroom facilities as well as the improvement of parking areas. Read More

San Diego Mortgage Update
On Friday, October3, Congress approved a revised version of the Federal $700 billion dollar Economic Stabilization Bill. The legislation was approved by a vote of 263 - 171. President George Bush signed the bill into law later that day. Read More

New Ruth Mills Listing in Pacific Beach
Make sure to view our new listing located at 747 Windemere Court in Pacific Beach. Great home with two bedrooms and two baths, located close to the beach. Read More

Xanadu Comes to La Jolla
I wrote a blog about this awhile ago because there was a time in my life that I really loved the music from Xanadu. In the previous blog, I talked about the production coming to La Jolla. Well, the time has come. On Nov. 23rd, Xanadu will makes its premiere at the La Jolla Playhouse. Read More

La Jolla Home Prices on the Rise in October
Here are some new numbers for average prices and number of transactions in San Diego County, for the month of October. Average prices fell in many areas, while some areas remain strong and actually posted a higher average compared month to month. Read More

New Bailout Announcements for Homeowners
Citigroup, one of the largest banks in the United States, announced that they would be taking measures to prevent more foreclosures. The company will be reaching out to approximately a half million people, who are not currently in foreclosure, but may be at risk. Citigroup plans to modify their payments in order to help them stay in their homes. For free counseling on this subject make sure to check out the official HUD website. Read More

Free Career Seminars for La Jolla Residents
Hopefully none of you living in La Jolla, San Diego, or, really, anywhere for that matter, has been a part of the escalating unemployment. But if you have fallen onto hard times, here's a bit of good news for you. UCSD is now holding free seminars to San Diego County residents, who are currently on unemployment. The seminars will focus on career and life. Read More

La Jolla School Wants to Expand, Residents Don't
Some La Jolla residents are not happy about the proposed expansion of Children's School, a private school in La Jolla. The school was built in the 50's and wants to add more space for classrooms, however the school does not want to increase its enrollment. The expansion will improve parking lots, as well as, optimize drop off / pick up areas and the added classroom space will be environmentally friendly by featuring solar panels. Read More

Water Conservation in San Diego
It's time to begin conserving your water intake in San Diego. Recently, the state decided to cut back on its water delivery, beginning in 2009, to San Diego and other regions of southern California. This is in response to the lack of water, which is now experiencing all-time lows, forcing the Dept. of Water Resources to only allow fifteen percent of the water being requested. Read More

New Home Inventories Must Decline for Housing to Recover
The latest reports are indicating that new home inventories dropped last month, however, there are still way too many on the housing market. An analyst on Wall Street stated that builders must show some restraint while the current rate catches up with demand. Read More

Expansion Approved for Salk Institute
La Jolla, CA: On Tuesday, the San Diego City Council approved a long-awaited expansion plan for the Salk Institute for Biological Studies. The plan originally received criticism from La Jolla and San Diego residents, but the revised plan was approved by a unanimous vote from residents, activists and even the mayor. Read More

Southern California Home Sales Jump in September
Home sales in Southern California rose by more than sixty-five percent in September compared to the previous year when lenders began to tighten their grip on accessible loans. In addition, home sales, in August, also rose a bit from the previous month due to falling prices. Read More

San Diego Real Estate Undervalued
San Diego had some of the most overvalued real estate in the country and, in the recent downturn of the economy, San Diego is now the most undervalued real estate in all of California. Read More

Downtown San Diego Gets New Makeover
Downtown San Diego will soon be getting a new makeover. The plan is for the waterfront in downtown San Diego and it will feature artwork, new lighting poles and unique trees. The cost of phase 1 will reach almost thirty million dollars and is being called the North Embarcadero Visionary Plan. Read More

Cutting Edge La Jolla
I've said this before in previous blogs, but I am going to say it again, La Jolla and San Diego continue to lead the way on everything from ocean research to global warming. Scripps Institute is probably the most famous, but there is also the Salk Institute for Biological Studies and the Burnham Institute that specializes in medical research. In addition to the college, UCSD, there is General Atomics and the Science Applications Corporation. Read More

Rain and Cooler Weather Expected for La Jolla
Temperatures in La Jolla will be dropping today as the weather service is forecasting rain throughout San Diego. This will be the first heavy rain in months. Read More

San Diego Home Sale Controversy
A real estate transaction, where a San Diego County official's significant other sold a home in San Diego to a lawyer who weeks later began working with her husband, is now being looked into by investigators. Read More

Veterans Come to La Jolla Shores
Veterans are traveling from across the U.S. to participate in athletic events at La Jolla Shores. The event will run through the 3rd of next month and will begin today. The event is being held in order to honor those who have been recently injured in combat. Read More

Some La Jolla Residents Concerned Over Lifeguard Station
Looks like there soon may be a new 1,500 sq ft lifeguard station in La Jolla Shores. Recently an appeal was denied over lack of targeting environmental issues, making room for the new project to be completed by 2010. However, there is a good chance there will be another appeal, which will cause more delays. Read More

La Jolla Supports Renewable Energy
La Jolla community members will be rallying in front of the Gilman structure, located at UCSD. The structure utilizes renewable energy by using solar panels. The rally is being held in order to show the communities' commitment to reducing emissions and their belief in the continued use of renewable energy sources. Read More

Can the Government Really Save the Housing Market?
Although the California real estate market is doing better than most, it is still a slow recovery process, especially as news of the tumbling stock market and the myriad of government bailouts hit the news. La Jolla resident James Uarania said, "Without the government bailout, we would have been in serious trouble". Read More

California Housing Market Leads the Way
An article came out today talking about California as being in the forefront when it comes to housing markets that are beginning to heat up. With the combination of decreasing prices and low interest rates, not to mention the pent up energy from those who have otherwise been patiently waiting, the California housing market is in perfect shape to withstand a surge in home sales. Read More

Tennis Championship Coming to La Jolla
La Jolla residents will soon, once again, be treated to the USTA Tennis Championship beginning on the first of December and running through December seventh. The championship will take place at the La Jolla Beach and Tennis Club and is being held for pros, semi-pros and the top players over the age of thirty-nine. Read More

Federal Reserve Makes Moves to Overcome Credit Crisis
Late today, the Federal Reserve said it is planning on taking measures to help aid the credit crisis, which is by far the worse we have seen in years. For starters, the Federal Reserve will expand assets allowing banks to gain access to emergency loans. Read More

Real Estate Assets Dept. Working on La Jolla Kayak Proposal
The ongoing problems for La Jolla Kayak operators still continues. However, now La Jolla's kayak businesses are talking about coming together to speak as one voice. The La Jolla Kayak operators are now in talks of forming an association to combat the possible restrictions for the businesses, such as using a lottery system that would prevent the number of kayaks during the busiest times of the season. Read More

Good News for Fannie Mae and Freddie Mac Bailout
Here are some of the good things to come from the recent government takeover of Fannie Mae and Freddie Mac. For one the government will back bond payments, which will give investors confidence to purchase mortgage bonds. Read More

Study Finds La Jolla Real Estate to be Most Expensive
A recent study finds that La Jolla real estate has some of the most expensive homes in the country. No real surprise, right? Out of the top ten highest priced housing markets, California owns eight of those spots. Read More

Lower Mortgage Rates Won't Bailout Housing Market
Rates for mortgages declined today after news came of a government takeover of Freddie Mac and Fannie Mae. However, although mortgage rates went down, experts are predicting better rates for loans may not happen and cannot be expected to be the impetus in the recovery of the ailing housing market. Read More

New Loan Rules from the Fed
Here are a couple of the new Fed rules to prevent future mortgage troubles. There is really not much they can do about what has already been done, but these rules, which are effective October 1, 2009, should do the trick. Read More

More Details from the 2008 Housing Act
As we reported in an earlier article, the new Housing Act of 2008 offers first time home buyers, who qualify, a tax credit up to $7,500. First time homebuyers are considered to be those who have not purchased a home in the last three years. Another requirement is you must purchase a home before July 1, 2009. Tax credits will go to those who purchase single family homes, condos, townhomes and even those who purchase a houseboat will be eligible. Read More

La Jolla Shores Update
For years, there has been quite a demand for kayak rentals and tours in the La Jolla Shores area. Considering that the city of San Diego is one of the top vacation destinations and taking out a kayak is rated in the top 5 things you should do while vacationing in San Diego, it is no surprise that kayak operators are making such a stink about the recent proposals. Read More

La Jolla Rough Water Swim This Month
For nearly eighty years, people have come from all over to swim the ocean at La Jolla Cove during the 1st week of September. This year is no exception and thousands of people are expected to race in the La Jolla Rough Water Swim. Read More

Office Building Sold in La Jolla for Nearly $4 Million
A 2-story office building on Eads Ave located in La Jolla, CA, has sold for nearly four million dollars. This commercial piece of real estate is almost ten thousand square feet, averaging over four hundred dollars per square foot. Read More

Stay in La Jolla at Half Off the Price
Just thought I would share some news I heard recently. Even though it is not about La Jolla real estate, maybe you might be coming to town to search for homes and are looking for a place to stay. The Estancia La Jolla Hotel and Spa is a wonderful place to plan a getaway. Even if you live in La Jolla and just need a break, you may want to give it a try. Read More

Is San Diego in a Recession?
Experts are saying that, like many areas in the United States, our dear San Diego is in a recession as well. This is being caused by lack of jobs, increasing numbers of people losing their jobs and the San Diego housing market. In addition, the University of San Diego released its report stating that consumers are losing confidence and are buying less. Read More

Home Prices Fall in Second Quarter
It appears from a report released this week that home prices fell at a sharper rate than ever before, in the second quarter. However, it also is suggesting that the housing market may have bottomed out and the worst may be over. Read More

California Home Sales Increase Four Months in a Row
For the fourth consecutive month, home sales rose for California real estate. Home prices were down almost half of what they were a year ago, which has been the impetus for nearly 500,000 closed escrows last month. Read More

University City Real Estate Update
University City is a beautiful community located just outside La Jolla. University City homes can still be quite expensive, but are generally much more affordable than a home in La Jolla. If the last two months are any indication about where the housing market is headed, then University City is showing signs that sales are on the rise. For most of 2008, sales have remained quite steady, until July, where the sales jumped. Read More

Del Mar Real Estate Update
The average price of a home in Del Mar has stayed somewhat consistent since the beginning of 2007 to now. There was a brief increase in the average price beginning in April of '07 and dropping back to its normal range in August of '07. During the months of the increase, the number of units also rose and the average price of a home in Del Mar peaked at around 3.5 million dollars and there were around 15 homes being sold in each of those months. Read More

Coronado Real Estate Update
As with most of the real estate market, the numbers of homes sold in Coronado are down from a year ago. But unlike La Jolla, the prices are down as well. Last year, the number of homes sold were approximately seventeen for a month, whereas now, we are just a little over ten sold for the month, with February and March being the lowest in years, dropping to less than five homes sold in each of those months. Read More

La Jolla Actress Passes Away in Her Home
We would like to pay tribute to La Jolla actress, Priscilla Allen, who passed away on August 14th. There will be a memorial service today (Thursday @ 2PM) and it will take place at the San Diego Repertory Lyceum Space Theater. Read More

San Diego Real Estate Report
Last month, San Diego saw is highest home sales in over a year. This is being attributed to forelosures being sold at low prices and the fact the prices are still falling in some areas is San Diego County. Read More

Guided Tours of La Jolla Cove
Haven't you ever wanted to swim with sharks? Whenever I first moved to La Jolla in the seventies, I started walking with the leopard sharks in La Jolla, but this seems much more exciting. The Birch Aquarium in La Jolla is sponsoring guided tours of La Jolla Cove. Read More

La Jolla Schools Set to Begin
It's that time of year again, for those parents living in La Jolla, time to send the kids back to school. Tomorrow, The Bishop's School, will be the first to begin classes. On Tuesday, the Preuss School located on the UCSD campus will begin. The rest of the schools like La Jolla High will begin classes on September 2nd. Read More

La Jolla Shores Already Showing Signs of Improvement
La Jolla residents seem to be quite happy with the latest improvements to La Jolla Shores. Parking improvements have cut congestion significantly and kayak businesses are now allowed to keep equipment on the beach, which also cuts down on pedestrian congestion. Read More

California MLS to Become More Unified?
Looks like the MLS will become a more unified tool, much like sites such as Google and others use. In the past, many real estate agents in California had to use more than one MLS service in order to get everything they need. Read More

Many California Homes Selling at a Loss
One out of four people who sold their home recently, in the United States, are reporting selling their home for a loss. Fifteen percent of those were foreclosures. The California real estate market has been one of the States hit with a high foreclosure rate, making up for nearly half of all sales. Read More

San Diego Foreclosures
More than 7,000 properties owned by banks are being reported through July. Over two thousand San Diego homes and condos are currently listed. It is also being reported that out of more than 2,500 homes and condos sold in the county, thirty percent were owned by banks. Read More

Foreign Homebuyers Still Buying Real Estate in the United States
Even though the dollar jumped a bit against the Euro, international homebuyers are still eyeing the United States as a good real estate investment. The National Association of Realtors stated that there were possibly around 200,000 international citizens who purchased properties in the United States in the last year. California was one of the top 3 places foreign buyers are purchasing their homes. Read More

La Jolla Shores Improvements
La Jolla Shores has been in need of parking for years and finally some new parking areas have been added to help with the congestion and traffic. La Jolla Shores is an incredibly popular area in La Jolla and over the years has become more and more crowded, but parking has become quite a hassle over the years. Read More

Pending Home Sales on the Rise
Good news for the housing market; pending homes sales are on the rise compared to last month. With the recent signing of the Housing Act, pending home sales rose a little over 5%. The numbers are up from the previous month, however, they are still down more than 12% from a year ago. Read More

La Jolla Beach & Tennis Club Event
Las Patronas, a volunteer philanthropic group, threw an event at the La Jolla Beach and Tennis Club, a week ago, celebrating the Jazz Age. People dressed as several famous faces from the 20's such as Charlie Chaplin. There was live music, dancers performing classics such as the Charleston, all in front of a NYC skyline mural. Read More

La Jolla Boat Launch
Those of us living in La Jolla know of the boat launch at La Jolla Shores. Recently, a meeting was held to decide what to do about the growing rental companies that are always launching kayaks or rafts from the boat launch. Read More

Federal Reserve - Interest Rates Unchanged
Due to economic slowdown and growing inflation, the Federal Reserve chose to not cut interest rates and, as it now appears, the central bank just may leave rates the same for the next few months. Read More

San Diego: Great Place to Live....and Go to School
Not only is the University of California, San Diego considered to be one of the best research schools in the world, but now it is also considered to be one of the best values. In fact, it was named as one of the top ten values, number six to be exact, by the Princeton Review. Read More

More Tax Revisions from Latest Housing Act
I thought we would continue on the trend and delve a little deeper into some of the provisions for the latest Housing and Economic Recovery Act of 2008. We have already touched on the first-time buyers credit / interest free loan, as well as, the increased loan limits. Read More

Free Movies at La Jolla Cove
Here's a nice idea to get you out of the house; movies at La Jolla Cove. Friday nights at 8:30 PM are officially outdoor movie night at Ellen Browning Scripps Park in La Jolla. La Jolla Parks and Recreation, along with Promote La Jolla have just declared "2008 Movies by the Sea". Read More

More Info on New Housing Act
Even though the latest Housing Act that Bush signed this week has gotten all the attention, there are a couple of tax provisions that been ignored, by the media, but should not be ignored by the prospective home buyer. Read More

Genomics in La Jolla
I'm always amazed, even though it seems to be becoming quite a habit, how La Jolla continues to lead the way in so many different fields. Today the J. Craig Venter Institute launched their genomics program. The course will educate teachers who want to learn more about genomics. Genomics studies an organism's complete genome and focuses on mapping out the entire DNA sequence. The course began on July 29th and ends today August 1st. Read More

President Signs Historic Housing Act
It took a little longer for Bush to sign off on the latest "Housing and Economic Recovery Act of 2008", but only by a few days. This is great news for us living in California. It points us in the right direction of gaining balance with our economy and will help decrease the number of foreclosures throughout California. Just as important, it will also provide more options for first time homebuyers. Read More

Peter Pan Coming to La Jolla
Not wanting to leave your cozy home in La Jolla? Well, maybe Peter Pan can get you out of the house. Peter and the Starcatchers is coming to La Jolla! The production is a prequel to the Peter Pan story we have all come to love. The play was written by Rick Elice and will run from Feb. 13th through March 8th at the La Jolla Playhouse. Read More

Forclosure Prevention Act - Freddie Mac & Fannie Mae Update
A major publication in the UK is predicting that, as a result of government assistance with Freddie Mac and Fannie Mae, world markets will begin to rebound. They are even claiming that this is the most major "rescue package" for America since Roosevelt's "New Deal". Read More

La Jolla Home Donated to the La Jolla Historical Society
Last week, a La Jolla home was donated to the La Jolla Historical Society. The house is called the Wisteria Cottage and is quite famous around here. Read More

New Management for La Jolla & Rancho Santa Fe Hotels
At the end of this month, new management is taking over the historic La Vencia Hotel, located in La Jolla. In addition, the new management will also take over the Rancho Santa Fe location as well. Read More

Foreclosure Rate in California May Have Hit Peak
Compared to the previous year, the foreclosure rate, throughout California, has risen over 30 percent in the last three months. This is more than sixty thousand homes hit with foreclosure and is the most since DataQuick, in La Jolla, started tracking these statistics. Read More

Great Real Estate Deals in Coronado?
Coronado was chosen as one of the top five places to get a bargain deal on a home. The tiny island of Coronado has long been known as one of the highest priced areas in San Diego County. Now, I don't want to give you the wrong idea by saying there are record breaking deals on properties in Coronado because, in reality, you will probably find it hard to find a home in Coronado for under a million dollars. Read More

Retail Building in La Jolla Sells for Over $6 million
A retail building on Girard Ave in La Jolla has just sold for over 6 and a half million dollars. The building is located in La Jolla's thriving design district. It boasts over ten thousand square feet and currently includes a few antique dealers. The new owner wants all the current tenants to remain where they're at. Read More

Take a Trip to Westfield UTC in La Jolla
If you are new to the La Jolla / UTC area and love to shop, then your first stop should be, Westfield UTC, located in La Jolla. This is an outdoor shopping mall with great shops and even a skating rink that is open the entire year. At Westfield UTC, pets are always always welcome. The shopping center even has baggie dispensers to clean up after your furry critter. Read More

Del Mar Racetrack Has Biggest Opening Day Ever
Hopefully some of you living in Del Mar and La Jolla made it out the Del Mar Racetrack for the largest opening day in its history. More than 43,000 people showed up to watch the races. Read More

It's that time of year again in San Diego
We are getting closer to that time of year in San Diego. Can you guess? If you said football season, then you are right. The San Diego Chargers are coming off of a year they were division champs and, once again, almost went to the Super Bowl. Well, preseason begins on August 8th against the Dallas Cowboys. Read More

Going Green at UC San Diego
UC San Diego does not take "going green" lightly. In fact, the University is one of the greenest in the United States. In the schools continued effort to become environmentally friendly, they have started to install the pieces needed in order to produce sustainable energy. Read More

San Diego's Crime Rate on the Decline
Here's some good news for San Diego residents. Our city continues to be one of the safer big cities in the country. San Diego's crime rate continues to decline, while officers on the street continue to increase. Read More

Foreclosures in California
Some people are predicting that there will possibly be a million foreclosures by the end of the year. Around 500,000 homes have already been foreclosed this year. The general public aren't the only ones hurting from the mortgage crisis. Real estate ivestors are also looking at foreclosure, with many facing the possibility of losing their investment properties in the next twelve months. Read More

La Jolla Residents Scream for Stop Sign
Several residents, living in the Bird Rock area in La Jolla, are protesting the lack of a stop sign at one of the areas intersections (La Jolla Mesa Drive / Van Nuys). The intersection has already been considered a hazard and last week's incident, when a woman was killed after her car was hit by a truck, only confirmed the danger. Read More

Safety Tips for La Jolla Beachgoers
With so many people heading to the beaches in La Jolla, we thought it might be helpful to post some safety tips. If you are venturing out into the ocean, first off, make sure that you are a good swimmer. Just as important, always have a companion with you when you are swimming or playing in the water. One of the major causes of death are from people who decided to swim out alone. Read More

University City Condo Open House Sun 1 to 4 PM
We will be holding an open house for a University City condo listing of ours. This is a 2 bedroom and 2 1/2 bath condo that has nearly 1500 sq ft. The condo has wood floors, travertine kitchen counters, glass cabinets, a fountain and much more. Read More

UCSD Voted Top in Nation
U.S. News magazine has named UCSD Medical Center as one of the best hospitals in the United States. The hospital has, for years, been recognized for its innovation and loving care. As a La Jolla resident, I have to agree with them. My experiences with USCD Medical Center have always been pleasant, if there is such a thing. Read More

Preventing Foreclosure
Although La Jolla has one of the lowest number of foreclosures in the country, I thought we would talk about some preventive meausures to take to make sure your home does not get into foreclosure trouble. Many homeowners in San Diego and, of course, the rest of the country, are having problems paying their house payment. On Yahoo today, I believe the number was one in every five hundred homeowners are seeing foreclosure as a real possibility. The numbers also are up nearly fifty percent from what they were a year ago. Our state is one of several that have been hit the hardest. Other states include Arizona, Florida, Nevada and Colorado. A new study suggests that the current housing market has not been this bad in fifty years. Read More

The Time to Invest Could be Now
How quickly people can forget that history happens in cycles and almost always repeats itself. Wasn't it Donald Trump who got several ridiculously low priced buildings when the real estate market was so bad in the early nineties? Some as low as a million dollars and then less than twenty years later that are worth over 600 million dollars. Read More

San Diego's Housing Market Showing Signs of Improvement
There is a report that moving companies in San Diego are beginning to see a lot more action these days. For the past couple of years, business has steadily slowed, but it is looking like people are beginning to get back into the market. Read More

European Investors Still Eye California Real Estate
European Investors are continuing to see the benefit of buying real estate in California. The Euro is just about as strong as it has ever been against the dollar. This has many investors salivating at real estate bargains on the West Coast. Read More

San Diego Charger Dies in Car Crash
We wanted to pay tribute to a fallen San Diegan. San Diego Chargers safety Terrence Kiel as passed away, due to his car striking a wall at high speed, in the Scripps Ranch area. Read More

La Jolla and Downtown San Diego in Demand
Well, I hope everyone had a wonderful 4th of July. As always, we went down to La Jolla Shores to watch the display. It was as crowded as I have ever seen it, but the show was, as always, spectacular. Generally, we see a bit of a slow down in the La Jolla real estate market during the holiday and leading up to the holiday. This year continues to break the predictable trends. Read More

McCain's La Jolla Condo Building, Paid in Full
As noted in a previous posting, the McCain's are all caught up on their property taxes and paid in full. The McCain's owed over $8000 in property taxes, after neglecting to pay them for four years. Cindy McCain oversees the trust that owns the La Jolla condo complex, in La Jolla Shores. Read More

New Ruth Mills Listing - University City Condo
We have a new listing we'd like everyone to know about. This University City condo is elegant and modern. It is a 2 bed, 2.5 bath condo that was originally built in the mid-80's. Upgrades include travertine kitchen counters and wood floors. There are custom bookshelves and silk drapes imported from Italy. Read More

Fireworks in La Jolla, Del Mar and Coronado
Once again, the 4th of July will be filled will flared lights and booming in the night. La Jolla Cove is the place for residents to take in the night's festivities. The show begins at 9 PM and the ideal spot, in my opinion, is La Jolla Shores, but it will also look great at Scripps Park and, of course, La Jolla Cove. Read More

Presidential Candidate Owns La Jolla Condo
In all my years living in La Jolla, I have passed by this specific La Jolla condo building two to three times a day for the past 10 years. Never did I realize that it was owned by the McCains and futhermore, I didn't realize that it was the building they were talking about when referring to the McCains lack of timely property tax payments. Read More

La Jolla Arts Festival Today
Today is the day of the La Jolla Festival of the Arts. For years the event has been considered to be the best in San Diego and ranks highly amongst comparable shows throughout California. Artists from all over the nation, as well as, nearly two hundred local artists will display their artworks, which include sculpture, watercolor and oils to name a few. Read More

Prudential Real Estate Continues to Grow
Prudential Real Estate Affiliates Inc. is continuing their trend of expanding their reach into cyberspace. In this case, the real estate giant has partnered with Cyberhomes, Oodle, AOL and Google Base. By doing so, almost 150,000 Prudential listings will be promoted on these websites. Read More

Celebrate the 4th of July in La Jolla
Guess what time of year it is again, that's right, it's time for fireworks in La Jolla. There is something spectacular about seeing the yearly firework display while sitting on the beach. My favorite spot is off of Camino del Oro, you might be able to find parking in the lot, but more than likely you will have to park up the hill, so get there early. By this time, people will have spent the day, relaxing in the sun. You will see lots of evidence of picnics, volleyball and barbeques. Read More

La Jolla Concerts by the Sea
Since the mid-80's, people have been coming to La Jolla to see La Jolla Concerts by the Sea. The summertime events have always been free to the public and feature music from folk to rock. Aside from La Jolla Cove being one of the most beautiful areas in La Jolla, that is also the location (Scripps Park) to hear live music. Read More

La Jolla Festival This Weekend
If you are living in La Jolla, make sure to come down to the La Jolla Festival of the Arts, which is taking place this weekend. The festival is known as one of the elite events in the entire state of California. It features over a hundred national and local artists. The festival will highlight photography, oil painting, watercolor and sculpture. In addition, there will be lots of great food and entertainment. Read More

Random ideas for San Diego Residents
Here are a couple of ideas that may just get you out of your home in La Jolla. One I found interesting is the exhibition, Enraptured, images by Mitch Dobrowner. Dobrowner photographs nature at its best. His photos are filled with luminescence, which speak volumes to the viewers soul and highlight what is so amazing about this planet. The exhibit will be showing through August 3, 2008 at the San Diego Natural History Museum. Read More

High Temperatures for San Diego Residents
San Diego hasn't been this hot in a long time. Over the last few days, San Diego residents experienced a bit of a heat wave. Temperatures in some areas were well over 100 degrees. We took a trip into downtown San Diego and found that it was about 10 degrees hotter than La Jolla. Read More

Free Class on Real Estate Investing
Not much of a blog today, but I wanted to let everyone know that there is a teleclass on real estate investing. There is no charge to take the class. Read More