No Bull Agent

Re-Inspect Your Home in Escrow Following Sunday’s Earthquake

Most of us in San Diego felt the 7.2 temblor as it rolled through Northern Mexico, Arizona and Southern California.  Personally, I was happy to be with family and glad that many were spared damage and injuries.  Our thoughts go out to those in Mexico who were hit hardest by this earthquake.

Currently, a few of our clients are in various stages of escrow and an earthquake of this magnitude can raise questions about the physical status of their new home.  We have advised all of our clients to check the home they have in escrow even though they may have already conducted the physical inspection.  It is important everyone be aware that any house could have shifted during the most recent temblor and aftershocks.  We recommend that a thorough second physical inspection be done to verify, visually, that nothing significant has changed since the first inspection was completed.  A qualified home inspector will be able to assess any changes to the structure and offer recommendations as to how to proceed.  Be prepared that additional inspections may be needed depending on the severity of damage.  Read the rest of this entry »

Tags: earthquake, home inspection, san diego

No Bull Agent Ad as Seen on Fox 5 San Diego

Tags: california, fox 5, home buyer, kaplan, nobullagent, san diego

Short Sale Reality for a San Diego FHA Buyer

From national to local San Diego news, distressed properties are continually discussed.  In this market, distressed properties primarily include foreclosures and short sales.  For many buyers, the opportunity to own a home is made possible through the purchase of these types of properties.  The prices are typically lower, but there are issues a buyer needs to consider.  Below is a real-life scenario of a San Diegan searching within the short sale market.

A qualified FHA buyer called us approximately nine months ago wanting to purchase their first home.  As an FHA buyer, they were looking to put 3.5% down toward the purchase price.  They came into our office for the initial consultation to thoroughly discuss their needs and wants for their first home.  Once the parameters were set, they began receiving homes matching their criteria.

Many of the homes they received were short sales.  During the initial consultation we discussed the various types of sale and educated them that short sales, in particular, could  take an extended amount of time.  They understood the positives and negatives and we began to make offers on all types of sale, short sales included.  On average, short sales can take from four to six months depending on the timeline for bank approval. Read the rest of this entry »

Tags: buyer, FHA, san diego, short sales