The Way To Buy A House In San Diego

House Buying Process in San Diego

How to buy a house in San Diego seems like it can be overwhelming and stressful, but it’s not. With the right knowledge and some preparation, the process can go smoothly and without any hiccups. In our latest post, we sum it all up for you with our home purchasing checklist. We want to help you find and purchase your first house.

  1. Get Financing For Your Home

Before you start shopping, you will need to know how much home you will be able to buy. Shop around with a couple different lenders and see what is available to you. There are all sorts of programs out there, you can even find ways to get help with your down payment. Talk to friends who have recently purchased, and find out which lenders they used and how the experience was for them. Of course, every situation is different, but don’t be afraid to look around a bit at what the lenders are able to offer you.

When you work with a lender, you will need to know the down payment you are able to make. Do you have 10% for a conventional loan? Or the 4.5% for an FHA? Are you financially prepared to take on the PITI (Principle, Interest, Taxes and Insurance)? Some people might spread themselves too thin in an effort to get approved on paper. However, it is critical that you are honest with yourself here and stay within your means. Just because you are approved for a certain amount, doesn’t mean you need to spend it all.

  1. Go Shopping

Don’t just look for listed casas, look at recently sold ones too. What can you really get for your dinero (money)? People can list properties for any price they want. It doesn’t mean they are actually selling at those prices. Pay attention to the market and annual trends. Bid with intelligence & be well informed. Don’t succumb to impulsive moves that will end up costing you down the road.

Before you make an offer, find out EXACTLY what is included with the homes. Is the seller including any furniture? What about the appliances? You cannot assume they are included unless you have it in writing. You wouldn’t want to find out on the day you move in that you need to go buy a refrigerator or washer.

You will want to make sure the seller has a homes warranty in place to cover any major repairs that are needed over the next year. You need to have the reassurance that something isn’t going to immediately go wrong right after you move in. Home warranty to cover major repairs over next year.

Have an inspection done by a professional, licensed inspector. Once your inspection is done, talk to a licensed contractor about the cost of repairs. You can take this to the seller to negotiate who will pay to repair the home or work the repairs into the final sale price.

  1. Buy Your Perfect Home For You

Most lenders you will work with require an appraisal on the home before they will let the funding go through. The home needs to meet their requirements in order for you to make the purchase. Once your financier has approved, you will want to get detailed closing costs and review all associated fees.

Schedule a final walk through, checking all switches, fixtures, outlets, etc. (Some small things can be a sign of bigger problems!) Final walk through test all fixtures, switches, outlets faucets. Even professional real estate investors do this.

Once you are satisfied with everything, you are ready to sign your contract and proceed to closing.

Pat yourself on the back, you have a new home!

Are you ready to purchase a home in San Diego? We can help you answer all of your questions and find the home of your wildest dreams. Send us a message or give us a call today! We are the top Agents to work with in San Diego.

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How Do I Figure Out My Home’s Worth in San Diego?

What are things I should look for when getting market value of a San Diego house?

Most people have trouble figuring out what to sell their house in San Diego for. This is probably because they feel as if it’s anybody’s guess as to what a house is worth. That’s not the case at all. Every house, in ever market has a great value estimation for what their house can sell for. Whether you’re selling a house in San Diego, Denver or Roseburg, this blog should help you figure out the market value of your house.

Now let’s get into the meat and potatoes of the actual tips of determing what your home’s worth in San Diego.

1. Hiring An Appraiser

If you want it done right, simply hire a professional Appraiser. During a home sale, the bank that makes the home loan normally selects an appraiser to render an opinion about the value of real estate as of a specific date. They’ll use actual properties that have sold for the basis of their evaluation. This isn’t a “I just think it’s worth X amount” process. It’s a calculated disciplined approached with real numbers. Listen to a real estate professional in Beverly Hills mention how even the Zillow CEO’s own home was 40% off of it’s real value. Watch the video below to find more about “What Are The Benefits Of Hiring An Appraiser?”:

Should I Use The Square Foot / Price Method?

This is simply dividing the price the house sold for by the total square footage of the house sold.  The reason why the price per square foot method is a poor method to determine market value is because every home is unique in San Diego.  While homes are similar in terms of size, bedrooms, bathrooms and location location location add or subtract value as well. There are so many factors that aren’t taken into consideration when using the price per square footage way of determining market value if this is done by an amateur.

My Friend Said I Should Use Zillow, Is That Accurate?

There are many homeowners who really think that “free online home estimators” are going to be 100% correct. Sometimes they can be drastically off!  If I were to receive a dime every time I heard a San Diego home seller say, “But I know Zillow said my home is worth more,” I’d be the next Bill Gates by now. Okay not that much but it would be a nice vacation at least.  Anyhow, one of the worst methods to determine the market value of a home is using online market value estimators like Zillow.

There are several websites that offer home value estimators just like their are tons of websites offering free credit scores. When is anything every truly free when it comes to finance services? Some of the most popular websites that homeowners visit to find out the value of their home are now household names and used daily and people are confused as to why no buyers show up to their San Diego open house.

If you think about it for a moment, how can a website that is not located in your local area and that has never been inside your home determine the market value of your home.  It’s impossible for a homes market value to be accurate since these online websites have no clue what is currently happening in your local real estate market or what the condition of your home is.

There is currently a lawsuit going around as to whether Zillow’s home value “Zestimates” are accurate or not and are scaring off buyers.  Don’t just depend on an algorithym that’s automated to tell you the truth about your own house. You have to remember it is virtually impossible to know the exact neighborhood and condition of every house in your neighborhood just based off that.

In Conclusion

At the end of the day, use a professional such as a real estate appraiser or real estate agent to determine the value of a house. “You get what you pay for”, for a reason!

If you’d like to list, sell or buy a house in the San Diego, California, give us a call or contact us here on our site today!

-San Diego Estates Group

The Benefits of Selling in A San Diego Seller’s Market!

This is an article that’s all about how to sell your house in a San Diego Real Estate Market and how to capitalize on it! It’s your turn as the seller to reap the benefits of a seller’s market. In 2011-2012 that was the best time to buy a house, now it’s the best time to sell in San Diego.

It’s simple supply and demand in this business. You just have to know what to do when the time comes. Many real estate agents in the San Diego CA area left the business in a buyer’s market because the demand for buyers was so high that they couldn’t wait it out 45+ days before earning a commission. Now you probably hear that everyone is getting into real estate because you can “make money money fast”. You see this in the stock market too.

We have to back up and say that just because you’re in control as a home seller, doesn’t mean you should try and take advantage of people or the situation. Do what you can with respect to the fact that people are still looking for a home. They are in the same position you were in when you were a first time home buyers. That’s going to be the majority of clients Realtors bring to see your house.

Here’s an example of a fantastic Realtor you should choose in a San Diego market.

Now let’s get into the actual action steps you can take to sell your house fast, on your time frame, for the right price and to the perfect buyer for your San Diego home.

1. Give Into Some Concessions.

Another component, other than price, is the conditions that are also placed on the sale. Think about the closing costs, inspections and appraisal fees that’ll occur. These are what the buyer might ask for in a deduction of an asking price. You as the seller can ask for things that benefit you too. Like that you’ll only sell the house in “as is” condition.

2. List Your House High, and Lower Later.

Remember what we said about supply and demand? You can ask a higher price because San Diego buyers don’t have as many choices available to them when it comes to inventory. Take advantage of the seller’s market is to simply ask for more money and see what happens. Worst that can happen is lowering your price a week later.

3. Create A “Buyer Frenzy”.

When you only have one offer, you can get desperate to accept it. When you’re presented with multiple offers from multiple buyers, you are the one in power, and you can also negotiate from a position of strength. Generate multiple offers by getting a lot of interest and only accepting offers at a certain time. Then put all offers on the kitchen table and see which one really is “highest and best”.

In Conclusion In This Post

That’s how to take advantage of a seller’s market in San Diego for home selling. If you’re selling your house in San Diego during a seller’s market, use these tips to take advantage of the situation and enjoy a higher return, the addition or removal of conditions, and multiple offers to choose from.

If you cannot handle selling with a Realtor or selling For Sale By Owner, find a private home buyer in your state of Colorado, California or Nebraska that can buy your house without you having to pay commissions.

Selling Your House For Cash in San Diego!

It may seem easy but it’s actually complicated to sell a house for the best price, in reality it comes down to five simple items and on important rule. This is the strategy used by investors across California and the US to successfully sell a house for the best price.

Asking Price

When it comes to your asking price for a San Diego house, realize that the market is a hot seller’s market. Which means you have a better chance of getting a high price than not.

Just make sure that the asking price is justifiable. There are factors like the condition of your house that come into play so be fair. We all want a deal but we don’t want to spend more than we have to either.

Instagram Like Photos

This cannot be stressed enough, people walk homes from their phones and computers these days. They send links to the prospective property to friends and family for their input. Great photos are a must and costs a pretty penny if you don’t have a DSLR camera. They are very well worth it to better represent your property to potential buyers though.

Staging

When a potential buyer sees your home you want them to be able to imagine themselves in the house. If they are looking at your family photos and your old sofa in the family room it makes it that much harder for a buyer to visualize themselves in this property.

You would want to have a house in nice, clean condition just like anything you buy brand new. Of course it’s already been lived in but it’s a house you are selling for others to call a new home.

Real Estate Agents in San Diego

Nothing motivates an agent like a better pay day. Often buyers are not aware of all properties on the market and a great agent will lead their buyers towards a property that will net them a higher pay day. You may be paying 1% more in fees to the agent but your likely to close at a higher price and much sooner.

Renovate / Remodel

Nothing sells a house faster than a low price but if you are seeking top dollar nothing sells a house faster than it being clean and newly updated. Potential buyers aren’t looking for a major project. Buying a home is a stressful experience, anything that makes their new home more turn key and ready for them will greatly increase the homes value and speed that it sells.

The best items to focus on for a return on your investment are the kitchen, bathrooms, flooring, paint and fixtures. Be sure the landscaping is clean and organized but do not go beyond that with it. Granite counter tops and stainless appliances are a must for the kitchen.

Would a real estate investor be a fit?

Selling a to a house buying company in any part of the country is one of those things you have to do what’s best for you. Whether you’re selling a house in Denver or San Diego, the rules are the same.

The main goal is to find a solution to your problem and sell your house sooner rather than later. If you’re thinking a real estate buying company is best for you. Do a Google search or contact us! We’re buyer right here in San Diego.

Thanks for reading,

James Fort