Lake San Marcos Improvements
July 2, 2013 By
As you may or may not know, the Citizens Development Corporation (CDC) is in charge of the facilities and lake at Lake San Marcos. We have all seen it go downhill over the last few years, but if you are paying attention you can now see very positive things happening. From time to time I will publish some of the changes in this blog.
Citizens Development Corporation (CDC) has filed a proposed Plan of Reorganization with the Federal Bankruptcy Court. That plan, if approved, would control how CDC will repay its creditors and eventually exit from bankruptcy. The next Court hearing on the Plan has been rescheduled for Aug 21. Conditions look favorable for the proposed plan to be approved.
Although approval of CDC’s proposed Plan of Reorganization has been delayed, CDC continues to make needed improvements in the facilities. Attached are photos of the Children’s pool resurfacing which has occurred over the last two weeks. This project, designed to make the pool usable this summer, has been completed, the pool has been refilled, and is again open for use.
Significant capital improvements cannot be started until CDC’s Plan of Reorganization is approved by the Courts and the creditors. Once that is accomplished both of the pools are expected to see a major remodeling going far beyond the short term fixes required to keep them operational.
To find out more about the Lake San Marcos area or to see great Lake San Marcos homes, contact Gary Harmon, a Lake resident.
Information from “Friends of Lake San Marcos.”
North County Market Statistics for May 2013
May 22, 2013 By
1. The median price for all North County home sales – attached and detached – increased to $470,000 in April 2013 compared to $448,000 in March 2013. a. Detached homes in North County increased 1.9 percent in April 2013 to $535,000 compared to $525,000 in March 2013. Year-over median price for SFD in North San Diego County jumped 27.38 percent, from $420,000 in April 2012, continuing a nine-month trend of yearover median price increases (the last two months exceeding 25 percent). April 2013 reported the highest median price in North County since mid-2008. i. Detached home prices OUTSIDE North County increased 1.27 percent to $400,000 in April 2013 compared to $395,000 in March 2013. Year-over non-North County median price jumped 17.73 percent compared to $339,750 in April 2012, making a 13-month trend of year-over median price increases. b. Attached home prices in North County increased 4.1 percent to $330,000 in April 2013 compared to $317,000 in March 2013. i. Non-North County attached home prices remained constant at $265,000 in April 2013. c. The number of North San Diego SFD listings (active and contingent) rose 0.76 percent from March 2013 to April 2013, but decreased 38.83 percent year-over from April 2012 – the 20th month of year-over declines in listings. The number of sold North San Diego County SFD units increased 9.03 percent in April 2013 compared to March 2013. Year-over sold SFD units increased 8.91 percent compared to April 2012. i. Median days-on-market for single-family detached homes sold in North County fell to 19 days in April 2013 compared to 26 days in March 2013. d. The HomeDex affordability percentage for all homes in North San Diego County – attached and detached – decreased to 36 percent in April 2013 compared to 39 percent in March 2013.
All content by Gary Harmon.
Lake San Marcos – Bankruptcy Update
May 5, 2013 By
The following info was furnished by the “Friends of Lake San Marcos.” See below photo.
On May 2 another hearing was held in Federal Bankruptcy Court in downtown San Diego.
Concerning the Executive Golf Course (which was in a separate bankruptcy action not involving the Lake and Recreation Facilities), CDC has purchased the note on the Executive Course from Frazar, and have petitioned the court to allow this bankruptcy action to be dismissed (closed). This is a great plus for Lake San Marcos homes surrunding the golf course.
The court has responded that as soon as the US Trustee informs the court that all other past due taxes, Vallecitos water bills, and other trade issues have been resolved, the court will dismiss this bankruptcy. CDC indicated all these bills have been brought up to date and there are no remaining issues.
Therefore, CDC will have complete control of the Executive Course in the near future, and that property will no longer be involved in any bankruptcy proceedings.
The other bankruptcy proceeding involving the Lake and Recreational Facilities continues to be “on hold” awaiting a response from the National Credit Union Association concerning the purchase of the note they hold on the Recreation Facilities.
In general things are looking better at Lake San Marcos. The $9 million hotel remodeling is nearing completion and the buildings sport a fresh, clean, modern appearance. Many of the abandoned boats have been removed from the water, and as of last week, they have also been removed from the parking lot above the Convention Center. The Meridian continues to work towards its grand opening, and last week they planted fifteen palm trees along San Marino Drive. Some who have toured the Meridian report it will be very luxurious. Houses are again selling well, and prices are starting to return to pre-recession levels.
While many residents are patiently waiting for further progress on the Lake and Recreation Facilities, activity is moving forward on a number of other fronts.
If you would like more information about the real estate in Lake San Marcos, contact Gary Harmon, resident and Lake San Marcos specialist.
San Diego Activities for May 2013
April 24, 2013 By
Please enjoy this list of San Diego activities for May 2013 provided by Fidelity National Title Company.
For information relating to real estate is San Diego North County, contact Gary Harmon your San Diego North County realtor.
Real Living Lifestyles Top Teams – 2012 3rd Quarter
November 28, 2012 By
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 Gary Harmon.
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
November 8, 2012 By
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 Gary Harmon. 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.
Living Trust
September 24, 2012 By
Should your home be held in a living trust? Being in real estate, I am constantly being ask this question. And yes, I do hold my personal residence in a living trust. However, I cannot recommend that you hold your North County home in a trust. Only your CPA or attorney can answer that question for you.
- Why do people use living trust? Some common reasons for holding San Diego property in a trust is to postpone or minimize death taxes, to shield the property from some creditors, or to help avoid time consuming probate.
- What is a living trust? A living trust is a trust created during your life time (inter-vivos trust) rather than being created by your will at death.
- Who are the parties to a trust? Typically a living trust is a Family Trust in which the Husband and Wife are the Trustees, and usually their children are the Beneficiaries.
- Does the trust hold title to real estate? No, title is held by the trustees on behalf of the trust.
- What taxes can be avoided by putting my property in a living trust? You should check with your attorney. Married couples can usually exempt a large part of their assets from taxes by having their property in a living trust.
- Can you cancel a living trust? The trustees can cancel a living trust at anytime.
For answers to specific living trust questions contact your accountant or attorney. For answers to San Diego North County real estate questions, contact Gary Harmon your North County Realtor.
Content by Gary Harmon.
Nine Eleven 2012
September 11, 2012 By
As we pause to recognize those that died on 9/11 (Nine Eleven) and all those who have died in the wars since, I wanted to share photos that I took in June of 2001. I consider myself lucky to have seen the Twin Towers, to have gone to the top, and to have gone outside on the top of Tower 2 to view New York city.
After seeing such the buildings in person it is impossible to imagine how airplanes could have brought them down. New York will always miss these great landmarks.
Pledge to the Escondido Home Buyer During Escrow
February 24, 2010 By
You have found your Escondido property, made and offer on your Escondido home, and the offer has been accepted. You are now starting into a process that everyone calls “escrow.” This is is the third post in a three part series so please read “Gary’s Service Pledge…during Escondido Home Search” and “Pledge to Escondido Home Buyers during Negoiations.” These post will give you the needed background to fully understand what happens during the escrow process. The following is the “pledge to the Escondido Home buyer during escrow. Gary Harmon will:
- Make sure your escrow has been properly opened on you Escondido property.
- Check that the escrow office has received your good faith deposit on your Escondido home.
- Help you schedule a physical inspection on the Escondido real estate you are purchasing.
- Help you review the Escondido home physical inspection and help you make up a repair request list.
- If requested in the contract, make sure the pest control inspection is done on the Escondido house.
- Review all documents with you and make sure that they have the proper signatures and initials.
- Make sure the Escondido home seller provides you all disclosures necessary in a timely manner.
Review all disclosures with you before you sign. - Visit with your Escondido home mortgage lender to insure the loan is progressing.
- Make sure you remove all contingencies in the timeframes of the contract.
- Help solve any problems that may arrise during the escrow period on the Escondido houseby providing you with options as necessary.
- Conduct a final walkthrough with you within the last five days of the escrow period to make sure all items requested, if any, under the physical inspection have been completed.
- Make arrangements to get you the key upon closing.
- Answer any questions or provide any other information that you may need.
If you have any other questions not answered the the last 3 post about the Escondido real estate purchase process, call Gary Harmon, your top Escondido Realtor.
