Home for Sale in Fallbrook

Home for Sale in Fallbrook, MLS# 110021221.  Single-level, ranch-style country home on 2.97 acres is in quiet area, with privacy at the end of the street.  Home is situated on the west side of the property with a 1937 a cottage and detached workshop/garage, leaving plenty of open space to the east and south for horses, playground - you name it!   This home for sale in Fallbrook  features open beam ceilings throughout and skylights to take advantage of natural light.  Custom built home with convenient, built-in cabinets/desk areas thoughtfully placed throughout this home.  Step down living room off entry with wonderful view of backyard.  Master bedroom features a second fireplace, fan, and open beam ceiling.  Wonderful, pool just off covered patio area making a great view from kitchen, living room and even master bedroom.  Great for warm, summer days! 

Custom-built home on 2.97 acres!

Enjoy crafts, need some office space?  This home for sale in Fallbrook has an extra-large laundry room for a computer station and crafts.  Central vacuum.  Driveway up to the house has been newly paved.  Vegetable garden/bird sanctuary in front and another vegetable garden in back of cottage.   

The home for sale in Fallbrook is also energy conscious, with dual pane windows  on 90% of the windows andthe fireplace has a heatilator!  Dog run hidden behind vegetation in the backyard. Flat useable property full of fruit trees and open space for ?? and room for RV.

1937 Cottage

In addition to attached garage, there is a 1937 cottage and detached 2-car garage and workshop that comes with this home for sale in Fallbrook.  The detached gagage and cottage will need maintenance or can be taken down.   Tenants pay $750/mo. There are lots of options on this property!

 Agent feedback on previous listing was that the price was too high for the updating their clients would want.  So, we have lowered the price $100k to buy as is AND if you want to upgrade or renovate, we have had a contractor put together prices to upgrade various aspects of the home, cottage, and/or detached garage.  Just add renovation costs to base price and you can have the home of your dreams. Contact John Medin for info on Renovation loans (619) 417-2003.  It’s easier than you many think!  Use loan to landscape too.

For more information, contact sheryl@sherylbrown.com. 

Call today! 760.639.0696.

Tags: Homes in Fallbrook

Should I Sell My Home?

I am finding more and more homeowners struggling about what to do with their homes. They are concerned that they can’t get the price they want for their home. They are unsure about staying in their home, maybe due to job insecurity, decreasing income, they have to move because of a job, or the concern their value may drop below market value and they will be stuck. They may be other reasons too, but these are some of the main questions that plaque home owners.

One option being taken is to rent your home out and go rent yourself. The strategy seems to be to hold onto the home until the value of the home goes back up and there is equity in the home. In the meantime, find something they can afford and live there. Unfortunately, most experts think that it may take anywhere from 5-10 years to get back to the value the home once had, and then even more time to gain equity. These people are banking on the value going back up and their ability to afford to live there down the road. So the question is, do you want to live like that for 5-10 years?

Another option is to stay put and hope that things get better since income hasn’t changed and they can afford to stick it out over the next 5-10 years. It’s not a bad option and may be the best if they are not qualified for a short sale.

Another option I have seen are the people staying in their homes, losing money as they stay. Again, they hope things will get better, but in this situation they are dwindling their savings and driving up credit card debt, in hopes something will change – usually a job.

My first recommendation to everyone struggling about what to do with their home is to talk to a reputable real estate agent and ask them to run comps to find out what their home is worth. Secondly, ask the agent to run a net sheet to find out what they would net if you sold your home. Review the net sheet to see if you agree with the assumptions. Do you agree that the commission is appropriate, that there is enough money for repairs, and there is enough margin to be prepared for modifications to the plan? If so, and you can make money and still sell your home, you might give this consideration.

If you find that you cannot make money in the sale of your home, get the facts about a short sale. Number 1, find out if you qualify. Speak to an agent certified in conducting short sales. (Nationally, only 40% of short sales work. My negotiators have a track record of 95%.) You might be surprised to find out that you do qualify, and once you get past the emotions surrounding a short sale, you can see an end to the stress you have been under. Many people find that they will qualify to buy a home again in 18-24 months after a short sale.

Last year, I sold my home because I was getting low on equity and didn’t want to get caught in over my head. I took my own advice and sold, with barely enough equity to get out. It was a financial, not an emotional decision. If it had been emotional, I would never have left the home I raised my children in and loved.

I am in the process of helping my own cousin right now. She was in the category above losing money while she stayed in her home while she looked for work. (She had been working on a loan mod for over a year. She paid someone upfront – fraud – and didn’t get anything in return.)* She ran up her credit card bills and pulled money out of her savings to cover mortgage. Today, as I type this, her home is on the market as a short sale. And, she is trying to negotiate her credit card debts down. In 6 months, she is likely to have a settled debt with her lender and lowered her credit card debt almost in half. She is already feeling better.

If you have any question about what you should do, I would be happy to talk to you about your options.

*Only 5% of loan mods are going through today. And of those that do, 60% default in the first 6 months. Hopefully, these statistics will get better.

Tags: sell my home, selling my home, short sale or regular sale, should I sell my home, will be able to sell my home

Getting a Home Inspection?

Buyers have a new tool available to them to assist them in their evaluation of a home. By now, most buyers are aware of the value of a home inspection. But did you know that there is a new inspection just recently made available to the public?

It is the California Home Energy Rating System or HERS. HERS is a reliable method for buyers or homeowners to estimate and compare energy efficiency of a home. During an inspection, the HERS inspector will also evaluate the most cost-effective ways to save money on energy costs. And if the home already has an energy producing system, (ie., solar), the evaluation will help you calculate the energy the home may produce.

Each California HERS Rater must follow standardized energy auditing procedures and use energy analysis software that meets the Energy Commission’s technical requirements.  The HERS Rater will inspect and assess all the major energy efficiency features of your home including but not limited to:
• Windows
• Major appliances
• Solar electricity generating systems
(if any)
• Air leaks (sealed or unsealed)
• Cooling system
• Heating system
• Water heating system
• Heating and cooling ducts and/
or pipes

At the end of the inspection, the rater will provide the buyer or homeowner with a rating. The rating is based on a scale of 0-250. The lower the score the better.The best part about this is that the evaluation will also help your identify and if appropriate, qualify for financing or federal tax credits.

If you are interested in knowing more about the HERS program, contact me (sheryl@sherylbrown.com) for a free HERS Booklet. And if you want to find certified HERS Raters in San Diego, go to https://www.calcerts.com/Rater_Directory.cfm or email me for a list.

Tags: certified home inspectors, HERS, HERS San Diego, home inspections

Country Home For Sale in Escondido, San Diego, CA

Ranch-style Country Home for Sale in Escondido, San Diego, CA, on 5 acres.  Not just one, but two homes for the single price of $750,000!!!

Main estate

  Gated, ranch-style estate on spacious grounds with panoramic views, privacy & spectacular gazebo sunsets!  Main home with pool and spa is 3584 s.f. with 3 large bedrooms, each with a private bath, plus two ½ baths. A bright, open floor plan with large picture windows and vaulted ceilings takes advantage of views. In addition to the formal living room and family room, there is a library/den/music room.

Main home has oversized master bedroom with both sitting area and retreat great for office or? Master bath features bidet & double sized shower.  Koi pond with running stream near built-in BBQ area and covered patio.  A/C and ceiling fans throughout home. 

Front of Estate

Second Home

Second home is not just a guest house! It has 1152 s.f. with 2 large bedrooms, 2 full baths, family room with a large bay window, and a huge kitchen, complete with refrigerator, oven/range and laundry room. 

This Country Home For Sale in Escondido was previously listed in December 2010 at $825k! 

Two homes for one great price gives you lots of possibilities with this Country Home For Sale in Escondido! The second home has a separate entrance/drive and could be a guest home, in-laws, maid/gardener/grove worker quarters, or rental. (2 bedroom homes can rent for $1200/month — buyer to verify.)  Includes private grounds and covered patio.

Country Home For Sale in Escondido  has 15 varieties of fruit/citrus trees and fenced vegetable garden area. Solar panels to heat pool. Washer and dryers/refrigerators in both homes convey. Barn with loft that could be used for workshop, stables, storage or more.  3 sheds. Covered RV parking. Room for horses and zoned for some agriculture.  Trees on property include 15 varieties including: cherry (2 types), lemon, pomello, apple, grapefruit, oranges, avocado, pomegranate, fig, tangelo, macadamia, peach and more.  Interior and exterior of home completely repainted last year except one room in guest house and interior guest house trim.  Pool drained and cleaned last year.

For 25 photos, go to http://bit.ly/hGK2ZZ.

Barn

Tags: 5 acre homes for sale, buying a home, country home for sale, Escondido home for sale, ranch-style home for sale

Weighing the Pros and Cons of a Short Sale

A short sale is an option to foreclosure that many Americans are taking advantage of today as their mortgages adjust to outrageous rates that they simply cannot afford. The amounts of their payments go up and the value of their home goes down, leaving many homeowners upside down on properties they had high hopes for. To complicate matters further, unemployment is at an all-time high and many are finding themselves without the ways and means to make their mortgage payments.

A short sale is an option where you can go to the mortgage holding bank or lending institution and ask for clearance to sell your home for less than what you owe. The idea is to let the bank have whatever the sale brings in and hope that they forgive any remaining debt. The latter is not guaranteed but is a common outcome in the event of a short sale agreement. If you can negotiate with your bank to forego it, the short sale will benefit you. If not, you’ll still get most of your debt off your back but may owe a balance.

Eliminating the debt of paying on a home that you are losing money on is always a positive thing for your credit rating and financial status, but you may end up with IRS consequences on the short sale when the debt is forgiven. This is an issue that you should consult a real estate attorney or CPA about because it is not unheard of for the government to tax you on the forgiven portion of the debt. When you borrowed the money to buy your home you didn’t pay taxes on the income since it was money you’d be paying back. If the debt is discharged you may have a tax liability.

On a purely positive note, by going with a short sale option instead of a foreclosure you’ll be avoiding a hit on your credit report that would stay there for ten years. You’ll also be eligible for new credit within two years after the short sale is completed. If you have stayed current on your mortgage payments you can even get an FHA loan the day after the sale closes. If you’re weighing the pros and cons of a short sale the ability to get new credit right away has to count heavily in the pro category.

Tags: sales price, sell my home, selling my home, short sale, short sale expert

Avoid Foreclosure and See if you Qualify for a Short Sale

You do not have to lose your home and you don’t have to take the ten year hit on your credit report that a foreclosure will bring you. Shorts sales are one of the options to foreclosure that you may be eligible for if your bank agrees to let you do it. It involves selling your home for less than what you owe on it, a common practice today for those who bought homes when they were going up in value and watched them plummet as the bottom fell out of the housing market. The property values are rebounding now but many homeowners are so far upside down that they need to take drastic measures.

Hiring a certified short sale professional to negotiate a short sale for you is one of the best things you can do for your credit rating if you are in the situation described in the paragraph above. Someone who has experience in negotiating terms with a bank or mortgage lender will get you the kind of deal you need to make sure the short sale will bring you all the way out from under. The main point is the forgiveness of the remaining debt owed after the sale is concluded. Without that assurance you’ll still be behind.

If you have fallen behind on payments because of an adjustable rate mortgage or due to being unemployed in this depressed job market you are most likely eligible for a short sale agreement from your bank. If there has been a significant change in the household income like a cutback in hours or a layoff to a spouse or partner you may be eligible also. The bank will evaluate your payment history and if they find you’ve been doing business in good faith they will most likely negotiate an agreement with your short sale realtor.

A short sale is an option for those who are in real trouble and have no other choice. Banks are not in the business of forgiving outstanding debt but they are willing to do it in the interests of recovering at least some of what is owed to them. The state of the real estate market right now puts the homeowner in a much stronger position to bargain, but make sure you have an expert by your side when you do it so you are assured of getting the best deal possible.

Tags: real estate agent, REALTOR, sell my home, short sale, short sale expert

Short Sale Help to Sell My Home

By now you have most likely heard of the option of a short sale to get you out from under that high interest mortgage that is drowning you financially month after month. Assuredly it sounds like a great idea to sell for a percentage of what you owe on your home and have the bank forgive the remaining portion of your debt after the sale is concluded. It sounds too good to be true but you know that there are thousands of homeowners out there doing it, so why not you?

Do you know how to approach your bank and act as a short sale negotiator? Lending institutions don’t make this kind of deal with everyone. What exactly makes you think that your problems will be solved just by asking for what is most likely the most difficult type of financial arrangement a bank will provide its customers? This is not to discourage you, but to encourage you as a homeowner in trouble to seek assistance from a professional who has been through a negotiation for a short sale in the past.

Realtors who have been through the process before make the best short sale negotiators. They are also the individuals most likely to come to a reasonable agreement with your bank. Since they buy and sell real estate they can move the property in question, a definite plus in the eyes of bank officials who are already stuck with foreclosed properties they can’t sell. Lenders are looking for feasible options to foreclosure so they don’t accumulate any more non-liquid assets.

The best place to find local short sale help is by clicking the “short sales” tab to your left or by calling the phone number at the top of this page. The real estate team led by Sheryl Brown has the experience you are looking for to help you negotiate a short sale agreement with your mortgage holder. You don’t have to be stuck struggling to make your payments and you definitely don’t have to be foreclosed on. There are other options and a short sale is one of the better ones if you can pull it off. Let us work with you and find the best solution instead of attempting to do it yourself.

Tags: home sales, real estate agent, REALTOR, selling my home, short sale, short sale expert

How a Short Sale Expert Realtor can help you Save Your Credit Rating

When it comes to something as important as negotiating a short sale, you should never attempt it on your own. There is just too much at stake. If you are refused and your home goes into foreclosure you could end up with a black mark on your credit reports that will last ten years. If you succeed, you can get new credit within two years and a FHA loan immediately if you have stayed up to date on your current mortgage payments. With that much on the line you need to hire a short sale expert realtor to help you negotiate a short sale arrangement with your lender.

When a bank or lending institution is approached for a short sale on an upside down property they take into account who exactly they are making the arrangements with, A short sale realtor is someone who has experience with negotiating a short sale and moving the property once the arrangements have been made. Since they bring that extra element to the table of being able to sell the property in question the bank is more likely to agree to a short sale arrangement.

Think about the economic climate in the country right now and the state of the real estate market. The banks have just been hit with a record number of foreclosures and they have no desire to accumulate any more property. If a short sale specialist comes to them and says they can move a property that they are not likely to collect any more mortgage payments on the lender will almost always agree, even if it means taking less than the original loan amount to settle the debt.

If you attempted to present a short sale solution in an economy where foreclosure rates and unemployment were low and demand for real estate was high you would not be as likely to succeed as you are in the present situation we are in. That doesn’t mean that it’s an automatic when you approach the bank with a short sale solution. Have a realtor who is familiar with the process handle all the arrangements for you. You’ll be out of debt, the house will be sold, and you’ll be on your way forward in life again, back on your feet financially and ready to take on whatever comes next.

Tags: agent, home sales, real estate, real estate agent, REALTOR, sales price, sell my home, selling my home, short sale, short sale expert

Do You Qualify for a Short Sale to Avoid Foreclosure?

Not everyone can qualify for a short sale, but banks do generally look for ways to help homeowners get out from under and avoid foreclosure. The high number of foreclosed properties in the past eighteen months alone has left lending institutions in a position where they need to negotiate with you. The properties themselves don’t do them any good so if they can get even some money back on a loan that is going into default they will be happy to do so. With that said, there are guidelines that need to be followed.

The most common questions asked refer to financial hardship. In order for someone to be eligible to sell their home short there must be some type of financial hardship involved. Job loss qualifies, as does a shift in income levels within the household, like a cut-back in hours. If you have been in an accident of some kind or have otherwise become disabled and cannot work then you may qualify also. If you do qualify, short sales are one of the best options to foreclosure so make sure you know what is required.

Another question you will be asked is whether or not your payments are current. Not paying your mortgage for a year and then going to your bank looking to sell the property short may not work very well. They will want to see that you are doing business with them in good faith and have at least made the effort to honor your mortgage contract. The bank can still recoup their losses if they foreclose and resell your home so be careful about the way that you approach a short sell proposition.

In order for a short sale to be effective for the homeowner, the outstanding debt that remains after the sale is concluded needs to be forgiven by the bank. For this reason, all parties involved need to be realistic about the numbers involved. A few thousand dollars is not going to break a major lender, but asking for forgiveness of larger sums may be frowned upon. Seek some professional advice from a short sale realtor before you make any offer and consult a real estate attorney and tax professional so you understand the legal and financial responsibilities you will have.

Tags: REALTOR, sales price, sell my home, selling my home, short sale, short sale expert

Leave the Negotiations for a Short Sale in the Hands of an Expert

If you’re in a hospital operating room watching the surgeon perform an operation, are you going to interrupt him every few minutes to tell him what you think he should do? Hopefully you wouldn’t. You are doing the same thing if you stop your short sale negotiators by interjecting your opinion while they are doing their job negotiating an arrangement with the bank. All of your questions and opinions need to come out before you walk in to make the deal. When at the lending office you need to present a united front and project a sense of conviction if you’re going to be successful.

Information on short sales can be found online or at the library if you want to read up on how they work, but knowing how to negotiate one only comes from experience. When you hire someone to do that job for you, like a realtor for instance, you need to let that person do his or her job. If you’re not confident in allowing the professional to do that then you have hired the wrong person. Take advantage of the experience that is at your disposal and you’ll find you get a much better deal.

A short sale is not like taking out a second mortgage. You are asking a lending institution to forgive a certain amount of your debt so you can sell a property for less than what you owe on it. This is an unnatural act for a banker or mortgage broker. They are used to lending money and getting significantly more back than what they gave out. Settling for less is something that only the current economic climate allows them to justify.

Keeping that difficulty in mind, think about the position that the bank is in. They want to get something back but they want to make sure there are some guarantees in place that will happen. A short sale expert realtor can not only handle all the arrangements, but can make sure that the house is sold in a timely manner so the bank can get their money before another payment would be due on the property. Realtors have buyers lined up to purchase undervalued property. You do not. Let your short sale expert do the job you hire them for and you’ll benefit from the relief of watching your debt go away.

Tags: home sales, real estate agent, REALTOR, short sale, short sale expert