Home Ownership After Retirement

North County Home Ownership After Retirement

Owning San Diego North County home that meets your retirement needs is an important consideration in securing your lifestyle and security during your golden years.  Developing a sustainable plan that covers your living expenses, including mortgage payments, with spending and savings is a critical part of your retirement planning.  Balancing the security of your North County home’s equity with cash flow needs should be part of your plans.   Most retirees contemplate how active their income will allow them to be, while maintaining savings to support a long life and unexpected events.  Remaining in your home provides equity, safety and security.  Financial advisors recommend reducing living expenses by downsizing; some opt for second homes in senior living communities; others choose the security of assisted living arrangements.

Gary Harmon, your Real Living Lifestyles Realtor, and Craig Laursen, mortgage lender are knowledgeable, experienced and committed to helping North County over 55 home buyers and sellers make wise decisions affecting their retirement years.  We work with estate planners, financial advisors and counselors to support you.  We are excellent real estate negotiators and we know San Diego.  We’ll work to qualify you for mortgages that utilize retirement income; for homes located in age restricted communities and other considerations that affect real estate transactions for retirement age buyers.

Our goal is to be part of your retirement team to help you execute your retirement plans that involve home ownership and mortgage decisions.

To get more real estate information reguarding buying a San Diego North County home or to get lending information, contact Gary Harmon.

My appreciation goes out to Craig Larsen, a North County mortgage loan originator, for providing this article.

Waiting Period after Short Sale or Foreclosure

One of the most frequently asked questions these days has to do with how long someone has to wait before they can buy a new San Diego North County home after experiencing a foreclosure, short-sale or bankruptcy. It can be vary depending on the type of financing one is trying to obtain.

VA financing is the most lenient. Typically, one has to wait two-years in all cases. Extenuating circumstances could reduce the amount of time before one could buy.

FHA is typically three-years in the case of a foreclosure or short-sale, two-years with a chapter 7 bankruptcy and one-year for a chapter 13 bankruptcy. Personally, I think FHA financing is the best option for most people.

Conventional financing is the most restrictive. Seven-years is usually the waiting period for a foreclosure but in some cases it can be only three-years. Short-sales are from seven down to two-years, depending upon the amount of the  down-payment. A chapter 7 bankruptcy is two to four-years with a chapter 13 being the same.

Information in the above article was provided by Cindy Choice of American Capital Home Loans.  Call to get Cindy’s phone number or email address.

Need more info about buying a San Diego North County home, contact Gary Harmon today.

Best Way to Finance

What is the best way to finance your San Diego North County home.  Best answer, it depends on each persons goals and financial situation.  However, in the current market, a FHA loan seems to be the easiest loan to get in today’s market place.

FHA only requires a 3.5% down-payment to a maximum loan amount of $697,500. That would cover most of the sales prices in San Diego North County.  Unlike conventional financing, FHA is not as sensitive to credit scoring. This can translate into much lower interest rates and payments. Despite the fact that FHA has the upfront Mortgage Insurance Premium to contend with, the impact to payment is minimal since it can be financed. Did you know that the qualifying standards are more flexible than conventional financing, that 100% of the down-payment can be a gift from family or a close friend, that the strength of qualifying can be from a non-occupying co-borrower and that there are no mandatory seller fees?

If you would like more information about FHA loans, Reverse Mortgages, or any other type of loan, contact Gary Harmon and he will put you intouch with a lending expert.

Content by .

Getting Ready to Buy

Six tips for getting ready to buy:

  • Get a pre-approval letter from your lender of choice.  Gary Harmon has worked with many lenders in the past 23 years and would be glad to refer you to a lender experienced in San Diego North County.   A pre-approval letter makes you attractive to sellers, and most sellers will insist that a pre-approval letter accompany any offers.  By determining how much you can afford before you ever start looking, you can save yourself from falling in love with a home out of your price range.
  • Have your North County Realtor show you properties that meet your criteria in the neighborhood of your choice.  Your Realtor can ask questions and determine factors affecting the purchase price of your North County home such as relevant repairs, upgrades, or warranty information.
  • Be a fair negotiator.  Gary Harmon can provide comps and help you with this phase of the purchase.  Not all sellers are desperate or heading for foreclosure.  Short Sales and Bank Owned properties in the North County real estate market are usually fairly priced and are currently selling for list price and above.
  • Get your home on the market now if you need to sell before you buy.  Most sellers and no lenders are going to be accepting offers based on a contingency of you selling your home.  You should have a plan in place in case you sell your home and can’t find your next home immediately.
  • Don’t be overly demanding.  Write an offer with as few contingencies as possible.  Your offer will probably be compared with offers and you want your offer to be the one that is accepted.  Your North County Realtor, Gary Harmon can help you know how to write a purchase offer that will be competitive.
  • Last, but very important, select a North County Realtor that has experienced this type of market before, a Realtor that will put your interest first. contact Gary Harmon .

Content by .

Real Living Lifestyles Top Teams – 2012 3rd Quarter

Gary Harmon is proud to be part of the Hadley Home Team.  Our team is third in number of units sold and fifth in total sales volume in a franchise with over 400 San Diego real estate agents.

Gary Harmon is a proud Hadley Home Team member.

If you want to be part of a winning team when buying or selling San Diego North County, contact Gary Harmon your Hadley Home Team Realtor.  Content by .

Since 1989, Gary Harmon has built a phenomenally successful San Diego North County real estate business through building relationships. Gary joined the Hadley Home Team in January 2011, and the entire team move to Real Living Lifestyles in June 2011.  ”I feel Real Living Lifestyles offers a more intimate atmosphere condusive to providing greater customer service.”  This attitude of always putting customersfirst has made Gary Harmon a top North County Realtor that people trust.

Gary understands that people in todays world require immediate and responsive communication. Give him a test and calling or TEXTing 760-745-1220. You will get an immediate response. As a relocation specialist, Gary has been trained and certified in Marketing Assistance and Destination Services.   In addition, if you are buying or selling real estate somewhere else in the world, Gary can refer you to a top, experienced, relocation, real estate professional.

Ocean Hills Mission Statement

Photo by Gary Harmon

Ocean Hills Country Club is an age-restricted homeowners association with facilities to complement and enhance an active livestyle.  The mission of OHCC through its Board of Directiors is to:

  • Protect and  Preserve assets
  • Enhance property values
  • Promote safe and harmonious living
  • Facilitate use and enjoyment of the property

This will be acomplished by the following:

  • Respecting and treating members fairly
  • Enforcing the governing documents
  • Communicating Board efforts and actions to members
  • Making informed decisions for the common benefit of the owners

If you would like more information about Ocean Hills Country Club contact .   Because Ocean Hills Oceanside is gated, you will need an escort to get inside.  Gary will be happy to meet you outside the gate and take you inside as his guest.  He will show you what is available as well as to introduce you to the great Ocean Hills amenities.  Call Gary at 760-745-1220.

Second Opinion

Purchasing your San Diego North County home may be one of the biggest purchases of your life.   The first major step is to get your financing lined up.  Many clients come to me preapproved by a lender. If so they may be well on their way to homeownership.  However, financing or lender performance is where we run into most of our problems in escrow. This is especially true with out of area or Internet lenders.  That is why I recommend getting a second opinion on financing.

For a good referral of a back up lender, contact Gary Harmon.

I have several trusted lenders that I work with that will provide your with a complimentary second opinion on your home loan even if you are already preapproved. Best of all, since they have worked with me many times, they will alway “shoot straight.”  If they have a better rate, you might consider using them. If not, it confirms that you have a good rate.  Since it is free you have nothing to lose and every to gain.

Maximizing Your Sales Price

One thing I have learned from over 23 years of real estate sales is “buyers buy what they see and not what will be.” This might as well be written in stone just like the 10 Commandments. Sellers like to think that buyers can visualize what a home will look like if they fix it up. Buyers do visualize, they visualize how much it would cost to fix it up. They usually way over estimate the cost and then expect the seller to reduce their sales price to accomodate. One way to stop this problem is to work with a staging company.

VACANT NORTH COUNTY HOMES: We all know that homes that are sitting vacant feel uninviting. North County home buyers often have a hard time picturing themselves in the space. This also gives the buyers an opportunity to analyze every minor flaw. An empty San Diego home can often stay on the market for a long period of time, which is undesirable for everyone. and can sometimes lead to reducing the price of your listings. Let a staging company like Baker Interior Design Group help you stage your homes and speed up your profits.

So how much does staging cost? Well staging can cost anywhere from $4000-$10,000 or more. However prices vary depending on the size of your home and how many rooms need to be furnished.

OCCUPIED NORTH COUNTY HOMES: Baker Intrior Design Group offers consultations for home owners that want to maximize their sales price. This is done as a flat rate fee. $355 for a 2.5 hour Consultation Walk-Through which includes a Recommendations Page (a list of things to do or change, so the homeowner can get ready to sell their home). However, if the homeowner just wants a little advice, Baker provides a 1.5 our Consultation Walk-Through, verbally discussing any recommendations that can help stage the home using the furniture and accessories already in place. This costs $200.   Baker Interior Design Group can be reached directly by calling Diana Baker: 909-379-9376 or Christina Melendrez: (909) 260-2568.  See more at www.BakerIDG.com.

If you need recommendations on how to make your home more presentable, therefore maximizing your sales price, contact Gary Harmon your top North County Realtor. All content by .

Del Mar Races – Day at the Races 2012

Friday, August 3, 2011, Benefiting PCI

Join Us ( Hadley Home Team at Real Living Lifestyles) for our 10th annual Day at the Races at the Del Mar Fairgrounds. See details below photo.
Equus Skyroom – Del Mar Turf Club (at the finish line )
Guest can begin arriving after 2:00 p.m.
Races start at 4:00 p.m.
Admission to the Equus Skyroom includes Turf Club privileges, complimentary program, plus special entertainment. All proceeds from this event benefit the San Diego – based non-profit PCI. Please Join Us! For more information or to RSVP for this event contact Sandi Hadley at (760) 942-2156 or mail a check made payaable to “PCI” to: Sandi Hadley c/o Real Living Lifestyles, 300 Carlsbad Village Drive, Suite 223, Carlsbad, CA 92008.
The following type of seating is available:
  • The Finish Line – Sponsor Table for 6 at the Finish Line – $1,000.
  • Premier 1st Level – 1st Level Premier Window Seating for 6 – $450
  • Premier 2nd Level – 2nd Level Premier Window Seating for 8 – $400.
  • Patio Seating – Outdoor Back Patio Seating for 10 – $375 or Middle Patio Seating for 8 – $300.
  • Individual Tickets – $40 per person.
  • Opportunity Drawing Tickets – 5 for $20, or 11 for $40.
Due to the limited availability, window seats will be sold on a first-come, first-serve basis.
This is the largest fundraiser in the history of the Del Mar Turf Club with over 500 people in attendance each year. We are reserving tables now to make sure you have the table you want for this fun day in the Turf Club at Del Mar. We are also having a HAT contest with a prize for the winner of the the most Creative hat keeping in mind what Project Concern is all about.

Our 2 top prizes are
  1. Two roundtrip Southwest Airline  tickets anywhere Southwest  Airlines  flies and you can book up to the last minute as long as it’s not sold out, no  cancellation fees.
  2. One week stay during January  at Beachcomber Inn in South Lake Tahoe with 2 roundtrip Southwest Airline  tickets. Can use the tickets separately. (Great for skiing or gambling) Plus  we have loads of other prizes.
Don’t wait, reserve your table or  get your invidividual tickets now!!!!! Guaranteed to be our best year!!!!
Please note new email address:  sandihadley@yahoo.com.
If you are looking for San Diego North County real estate, contact Gary Harmon, Hadley Home Team.

Hottest Real Estate Markets

If you are wondering what will be the hottest real estate markets in the next 18 months, I will share with you CNNMoney’s opinion.  Sorry to say that San Diego real estate and North County real estate were not included.  In fact, only one California city was mentioned, Madera, California.  Even though local markets are not in the list, we know that San Diego North County real estate inventory is very low and decreasing.  This should start to cause our home prices to increase.  Waiting on the bottom of the San Diego home market, better get on board.

The 10 cities in which home values may rise fastest are :

  1. Madera,  California (Forecasted 21.5% gain through 2013)
  2. Medford,  Oregon (Forecasted 21.5% gain through 2013)
  3. Yuma,  Arizona (Forecasted 21.5% gain through 2013)
  4. Corvallis,  Oregon (Forecasted 21.5% gain through 2013)
  5. Eugene, Oregon (Forecasted 21.5% gain through 2013)
  6. Olympia, Washington (Forecasted 21.5% gain through 2013)
  7. Boise, Idaho (Forecasted 21.5% gain through 2013)
  8. Billings, Montana (Forecasted 21.5% gain through 2013)
  9. Lewiston, Idaho (Forecasted 21.5% gain through 2013)
  10. Sante Fe, New Mexico (Forecasted 21.5% gain through 2013)

To get a personal tour of San Diego North County homes, contact Gary Harmon, you military off base housing expert.

All content by .