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.

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 .

Real Estate Investments

If you just finished your taxes as I did, you probably realize that you could have been better organized, especially if you own North County investment properties.  A well organized record keeping system is a valuable and indispensable asset.  Individual records should be arranged by category and labeled so that you can find everything quickly.  The following are the principal categories you will need and the type of records that should be stored in each.  You can use these as suggested headings to build your “Getting Organized” filing system. 

  • Banking – Cancelled checks and monthly account statements
  • Contributions – Receipts, cancelled checks, correspondence, a log of contributions, and papers relating to gifts of property.
  • Employment & Business Expenses – Paycheck stubs, W-2 forms, and documents relating to fringe benefits
  • Individual Retirement – Documents needed to determine your tax when withdrawals are made at retirement
  • Insurance – All policies
  • Investments – All purchase and sales slips showing dates and basis of purchase
  • North County Real Estate Investments – Closing Statements, rents received, any rental expenses. You will need to set up sub categories by address if you own several San Diego North County investment properties.
  • Medical, Dental, and Hospital – Medical histories, examination and lab reports, prescriptions, hospital records, bills

Remember for tax purposes keep everything at least 3 years and up to six if possible.

If you purchased San Diego North County investment properties through me, I can help you get your closing information.

To get more info about San Diego North County real estate, contact Gary Harmon, your Real Living Realtor.

All content by .

North County Market Statistics March 2012

The April 2012 HomeDex™ Report provides March 2012 San Diego housing statistics. Information in this report is used by permission from the North San Diego County Association of Realtors® (NSDCAR). Gary Harmon, your Real Living Lifestyles Realtor, has been a member of NSDCAR for over 22 years.

• The median price for all San Diego North County home sales – attached and detached – increased to $365,500 in March 2012 compared to $357,500 in February 2012.
• San Diego North County detached homes remained unchanged at $415,000 in March 2012. Year-over median price in San Diego North County dropped 7.81 percent compared to $450,165 in March 2011.
• The San Diego countywide median single family detached price increased 2.75 percent in March 2012 to $336,000 compared to $327,000 in February 2012.
• The number of North San Diego County single family detached listings (active and contingent) declined 2.4 percent in March 2012 compared to February 2012.
• The number of sold San Diego County SFD units increased 22.26 percent in March 2012 compared to February 2012 (after a 20.37 percent jump last month), and increased 3.35 percent year-over compared to March 2011. Year-over sold units have increased in nine of the last 10 months.
• Median days-on-market for single-family detached San Diego North County homes sold decreased to 57 days in March 2012 compared to 66 days in February 2012.

Content by  and North San Diego County Association of Realtors.

[idx-listings city=”Carlsbad” propertytypes=”335″ orderby=”DateAdded” orderdir=”DESC” count=”25″ showlargerphotos=”true”]

San Diego North County Market Statistics February 2012

The March 2012 HomeDex™ Report provides February 2012 San Diego housing statistics. Information in this report is used by permission from the North San Diego County Association of Realtors® (NSDCAR). Gary Harmon, your Real Living Lifestyles Realtor, has been a member of NSDCAR for over 22 years.

• The median price for all San Diego North County home sales – attached and detached – increased to $357,500 in February 2012 compared to $344,500 in January 2012.
• North County detached homes increased 3.75 percent to $415,000 in February 2012 compared to $400,000 in January 2012. Year-over median price of San Diego North County homes was stable with a small 0.6 percent fall compared to the $417,500 in February 2011.
• The San Diego countywide median SFD price increased 3.12 percent in February 2012 to $359,900 compared to $349,000 in January 2012.
• The number of San Diego North Country homes – detached listings (active and contingent) have remained steady through early 2012, decreasing just 0.92 percent from January 2012 to February 2012.
• The number of sold North San Diego County homes – detached units increased 20.37 percent in February 2012 compared to January 2012 (after a 32.21 percent fall last month), and jumped 27.13 percent year-over compared to February 2011. Each of the last four months experienced double-digit year-over increases in home sales.
• Median days-on-market for North County single-family detached homes sold decreased to 66 days in February 2012 compared to 68 days in January 2012.

by

[idx-listings city=”Carlsbad” propertytypes=”335″ orderby=”DateAdded” orderdir=”DESC” count=”25″ showlargerphotos=”true”]

November 2011 San Diego North County Home Statistics

The November 2011 HomeDex™ Report provides October 2011 San Diego housing statistics. Information in this report is used by permission from the North San Diego County Association of Realtors® (NSDCAR). Gary Harmon, your Real Living Lifestyles Realtor, has been a member of NSDCAR for over 21 years.

• The median price for all North County home sales – attached and detached – decreased to $354,500 in October 2011 from $375,000 in September 2011.
• Detached homes in North County declined 5.96 percent to $409,058 in October 2011 from $435,000 in September 2011; Monthly median prices have fallen during 6 months of 2011, and this month’s median price was the lowest reported in over two years.
• The countywide median SFD price declined 0.76 percent to $357,250 in October 2011 from $360,000 in September 2011.  Year-over countywide median SFD price decreased 7.75 percent from October 2010.
• The number of North San Diego SFD listings (active and contingent) declined 4.77 percent in October 2011 compared to September 2011.
• The number of sold North San Diego County SFD units decreased 16 percent in October 2011 from September 2011, but remained constant compared to October 2010.
• Median days-on-market for single-family detached homes sold in North County rose to 63 days in October 2011 compared to 57 days in September 2011.
• The HomeDex affordability percentage for all homes in North San Diego County – attached and detached – increased from 38 percent in September 2011 to 41 percent in October 2011.The median price for all North County home sales – attached and detached – remained constant from last month at $380,000 in May 2011.

If you like San Diego North County home statistics, you can always be up to date with Gary’s Altos Research Reports by major North County communities. Follow these links: Carlsbad homes, Oceanside homes, Encinitas homes, Vista homes, San Marcos homes, and Escondido homes.

To schedule a personal tour of homes in San Diego North County, contact Gary Harmon, your Real Living Lifestyles Realtor. If you would like to search for properties on your own, just click on the community of interest listed under “Current Listing” in the column immediately to the right.

[idx-listings city=”San Diego” propertytypes=”335″ orderby=”DateAdded” orderdir=”DESC” count=”25″ showlargerphotos=”true”]

Single Story Homes

Finding Single Story Homes in San Diego North County

With the population base getting older and baby-boomers reaching retirement age, the quest for single story, one level homes increases.  So you would think builders would have realized the trend and would have built a lot of single story homes in San Diego North County.  No, the opposite is true.  In the last 15 years, almost everything North County home builders have produced has been large two story homes.  They try to get the most bang for the buck without actually trying to meet the needs of the San Diego North County home buyers.

Don’t give up hope, contact Gary Harmon, your Real Living Lifestyles real estate agent.   As your Realtor, I would suggest the following choices.  If you like senior communities like the beautiful Ocean Hills Country Club Resort, there are a lot of one story homes in the $300,000 to $475,000 price range.  Many of them are twin homes.  If you want detached, one level homes, Lake San Marcos also offers a large mix of single story homes.  One such community is Varadero homes.  It is the community that I personally picked for my home.  Varadero has 105 homes with 4 floor plans and is a newer gated development.  See Varadero Homes Floor plans.  See Varadero current listings.  Below is also current listings of Lake San Marcos homes.  Call Gary  Harmon, your senior specialist, with any questions.

 

Quick Facts about Mello-Roos

How is community funding provided?

Let’s say for example, that plans for a new Carlsbad school are approved in your Community Facilities District. To finance the San Diego school, tax-exempt municipal bonds are issued. These public bonds are repaid (or secured) over an extended time through the levy of a special tax (Mello-Roos) on properties that benefit from the facility. This tax is usually added to the annual San Diego North County property tax bills (over a 20-25 year period) of residences within the CFD.

How Much Will be Assessed?

An adopted formula that relates to the size of the San Diego North County home (square footage or lot size) is used to determine the amount of an individual assessment.  In general, the special taxes and assessments do not exceed 1% to 1.5% of the market value of new new homes. Moreover, the total amount of all annual taxes (including property tax) usually does not exceed 2% to 2.5% of the North County home’s market value.

Can my Mello-Roos increase?

This special tax on your North County home can increase only at a maximum rate of 2% per year over a 25 year period. On the other hand, it’s possible that this tax will decrease.

Can I choose how to pay for Mello-Roos?

Yes. As already mentioned, the special assessment can be added to your San Diego property tax bills until your portion of the tax is paid off. A schedule of maximum special tax payments over a period of 25 years is available to San Diego North County home owners prior to the close of escrow.  Those who purchase a new North Country home also have the option to pay for their Mello-Roos tax in it’s entirety at the time they buy. However, because statistics indicate that the average homeowner in California moves every 7 years, it’s often prudent to spread the payment over time.

Find out more about Mello Roos in San Diego North County by reading “How to Avoid Mello Roos.”  To get more info, contact Gary Harmon, your Real Living Lifestyles real estate agent.

Best Time to Invest – San Diego Real Estate

Don’t Miss Out!

Prices in San Diego North County are low.  Interest rates are low.  Don’t let the poem below describe you.

I hesitate to make a list of all the countless deals I’ve missed;

Bonanzas that were in my grip – I watched them through my fingers slip;

The windfalls which I should have bought, lost because I over thought;

I thought of this, I thought of that, I could have sworn I smelled a rat;

As I thought things over twice, another grabbed them at the price;

It seems I always hesitate, then make my mind up much too late;

A very cautious person I, and that is why I never buy;

At times a tear drowns my eye for all the deals I let pass by;

And now life’s saddest words I pen – If only I’d invested then!

                              Author Unknown

Don’t sit on the sideline in the great San Diego North County real estate market.  Contact Gary Harmon, your North County Realtor.  Let Gary’s 22 years of experience help you get the next great real estate deal.  See  “Homes are currently 24% under priced.”

[idx-listings city=”San Diego” minprice=”300000″ propertytypes=”335″ orderby=”Price” orderdir=”ASC” count=”25″ showlargerphotos=”true”]

Pricing Your Carlsbad Home to Sell

Listing  Carlsbad homes for sale at the right price is crucial to their eventual sale.  Follow the tips below to maximize the chances of selling your Carlsbad propery.

If you want to sell quickly, your asking price should be very near the correct fair market value.

If your Carlsbad home is listed at a price that is above market value, you will miss out on prospective San Diego North County buyers who would otherwise be prime candidates to purchase your Carlsbad home. If you list at a price that is below fair market value, you will ultimately sell for a price that is not the optimum value for your North County home.

By pricing your Carlsbad property at market value, you expose it to a much greater percentage of prospective San Diego buyers. This increases your chances for a sale while ensuring a final sale price that properly reflects the market value of your North County home.  Generally, the price should not exceed the value by more than 5% or potential buyers may not even make offers.

For example, if you price your Carlsbad home at fair market value you will get 60% of Carlsbad buyers looking at your home.  If you price your Carlsbad home 15% below fair market value, you would get a potential of 90% of potential Carlsbad buyers look at your property.

Here are a few things to keep in mind about pricing:

  • Realistic pricing your Carlsbad home will achieve maximum price in a reasonable time.
  • Your cost or profit desire is irrelevant; the San Diego North County real estate market determines the price.
  • The cost of improvements are almost always more than the added value.
  • Carlsbad houses that remain on the market for a long time do not get shown.
  • A Carlsbad house that is priced right from the beginning achieves the highest proceeds.

To price your Carlsbad home correctly you need professional real estate help.  Contact Gary Harmon, your Carlsbad Real Living Lifestyles Realtor.  Gary will provide you with a comparative market analysis of your home.  You will no longer need to guess.  With proper pricing, your Carlsbad home will sell fast and for the most money.