san diego real estate

55 and Over Communities: They’re Not What You Think

June 18, 2018 by Danielle Negroni Leave a Comment

Where did your mind go when you read the words “55 and Over Community”? Did you suddenly have visions of golf courses and bingo nights and shuffleboard and….your grandparents?

If you’re age 55 or older, you might not consider yourself retirement ready. Perhaps, however, you are ready to live among your peers and away from the typical neighborhood chaos of young families.

Today’s 55+ communities aren’t what you think they are. Many luxury active adult projects have sprung up in recent years in San Diego, offering homeowners resort-style amenities and more.

Here are 8 reasons to consider moving to a 55 and over community in San Diego:

Lower Costs

Homes and condos in a 55 and over community are usually smaller and priced less than similar homes in the area. This may give you the opportunity to buy in a more upscale area than you were able to previously afford.

Less Maintenance

Even if you purchase a detached home, many active adult communities will take care of some or all of your home’s exterior maintenance needs. With less square footage to take care of inside, you’ll be able to spend more time enjoying your home and new community.

Floorplans Designed For Your Stage in Life

Many 55 and over communities offer single story floorplans or contain the essentials like the kitchen and master suite to the main floor. You may also find homes with wider doorways and other features that are geared towards helping you age gracefully.

Security

Gates, restricted access, and security patrols are common features of active adult communities. If you live alone, you may enjoy moving to a community with these services.

Peace and Quiet

The minimum age limit of the community means that children and younger adults will only be guests of the community and as guests, will need to abide by the community rules. This might be a welcome change if you’ve previously lived in a community with a lot of children and teenagers. Think garage band.

Location

Most 55+ communities and certainly some of the newer projects are close to shopping, dining, entertainment, medical facilities, and more. Some active adult communities provide transportation to these nearby resources.

Amenities

The amenities available in 55+ communities vary wildly from project to project, but many of the newer luxury communities offer very attractive amenities. Sparkling pools, state-of-the-art gym facilities, clubhouses, BBQ pits, pickle ball, bocce ball courts, golf courses, and more. There may also be additional services offered that are geared towards an aging community like health services, housekeeping, meal preparation, and more.

Be aware that buying into an active adult community usually means you will need to pay more fees, either in the form of increased HOA dues or just general fees to cover the cost of all the amenities and community maintenance.

Opportunities for Socialization

One of the prime reasons people choose to move to a 55+ community is because of the opportunities to socialize and develop friendships with your neighbors. Along with the great amenities, many communities offer monthly or weekly events to get you out of the house and interacting with other people. Everything from fitness classes to yes, bingo games, help retirement-age people fill their time. Homeowners will tell you it’s the social activities they love.

When shopping for a home in an active adult community, be sure to check out their events calendar to see what kinds of activities and social outings they plan. It will be one indication if the neighborhood may be a personal fit.

If you are thinking of downsizing from your current home, I would love to talk to you about your next step, whether that’s buying in a 55 and over community or somewhere else. Give me a call at (858) 735-5767!

8 Things to Do When Buying a New Construction Home

June 8, 2018 by Danielle Negroni Leave a Comment

New construction homes have a certain appeal that existing homes don’t. They’ve never been lived in so you won’t have to wonder about the home’s history. You’ll have the opportunity to customize your home from the ground up, rather than trying to modify what’s already there. And you won’t have to deal with an emotional seller.

But if you’ve decided to purchase a brand new home in San Diego, there are a few things you shouldn’t forget to do:

Hire Your Own Agent

Many buyers of new construction don’t think to hire their own real estate agent – but they really should. The sales agent is being paid to represent the builder’s interests, not yours. Plus, since you’re buying the home (not selling) the builder will most likely pay your agent’s commission. So it’s really a no-brainer to hire your own agent to represent you and negotiate on your behalf!

Ask About Extras

Don’t assume that what you see in the model home comes standard. Ask about what’s included and not included in the advertised purchase price. If you want to pay for additional upgrades, prioritize those things you can’t easily change about the home, like square footage and lot location. You can always install different flooring or repaint later and it may be cheaper to hire your own contractor to do the work anyway. Builders often mark up the prices on upgrades. You can ask your agent to give you a ballpark estimate of what a particular update might cost. Or they can refer you to a trusted vendor who can give you an estimate.

Research the Community

Depending on where the builder is in construction, you may not have a clear picture of what the community will be like when it’s finished. Make sure to ask how many total homes will be built and what community amenities will be offered. You should also find out about plans for the land outside the community. If there’s empty space now, what will be there in the future? Find out if any new schools will be built and if there are plans to modify the existing roadways to accommodate the increase in traffic.

Negotiate

While most builders do not want to compromise on price, they may be willing to throw in some extras or make concessions in other ways. It never hurts to ask. Your agent will be instrumental during this negotiation phase.

Ask About Warranties

Don’t forget to ask about warranties for the things that will be installed in the home. You can’t assume because something is new that you won’t have a problem with it. Make sure you understand what’s covered and what’s not and if there’s any special process you need to follow to get repairs done in the future.

Get Everything in Writing

Just as you would if you were purchasing an existing home, get everything you’ve negotiated and agreed upon in writing. Since the home may not be built yet, it’s important that the contract explicitly spells out how the home will be completed and what will happen if the home is not finished on time.

If you don’t understand what you’re signing, this is another area where it pays to have your own agent. Your agent will be able to help explain the contract to you and if there’s anything that stands out as a red flag, they should be able identify it for you.

Shop Lenders

Builders often prefer to use their own lender, but that lender may not be the best choice for you. You should find out if there’s any incentive to use the builder’s lender and meet with them, but you should also talk to one or two other lenders to help you make a decision. Though there may be an incentive now to use the builder’s lender, if you can get a better rate elsewhere that might make better financial sense for your family in the long run.

Get a Home Inspection

Getting an independent inspection of your new home before closing is always a good idea. After all, you want to know what you’re buying and ensure that the work was done properly and up to code. Workers can make mistakes so it never hurts to hire a professional to double-check. You will want to make the time to be there for the inspection so you can hear what the home inspector has to say first-hand.

If you’re thinking of buying a brand new home in San Diego, I would love to tell you about the great new communities that are being built and take you to tour the model homes. And if you find one you like, I’d be happy to represent you on your purchase. Give me a call at (858) 735-5767!

6 Common Home Buying Questions – Answered!

May 15, 2018 by Danielle Negroni Leave a Comment

Even if you’re not a first-time home buyer, it’s okay to admit that you still have questions about the process of buying a home. No transaction is ever the same and the mechanics can change drastically between transactions, especially if it’s been a few years since you purchased a home in San Diego. Below, I’ve answered six common questions I often receive from home buyers:

1) How Much Home Can I Afford?

Affordability is the question on everyone’s mind as home prices in San Diego continue to rise. It’s easy to feel discouraged and wonder if you can afford to buy anything. The truth is, you may not be able to afford the house you want. Yet. Or, you may be pleasantly surprised! The best way to determine how much you can afford is to meet with a lender to get you pre-qualified. You’ll still need to get pre-approved for a loan before you can buy, but getting pre-qualified will give you an idea of what you can afford for a monthly mortgage payment. Of course, you also need to consider the cost of HOA dues, Mello-Roos fees, and contributions to your emergency fund. Once you have these numbers in mind, you can compare them to home prices in the neighborhoods you’re considering.

But, if you realize you can’t buy the home you want in your dream neighborhood, don’t give up! Give me a call, I’d be happy to give you some other options to consider that might realistically fit your budget.

2) What Should I Offer For a Home?

Before you write an offer on a home, there are many things you should consider. What is the seller’s motivation for selling? How long has the home been on the market? What do the comps show? Is the home listed as-is?

I will help you evaluate each home you want to write on and help you craft a strong offer. But be prepared that as San Diego is in a seller’s market, you’re likely going to need to offer near full price or perhaps a little more to secure your home, especially if it’s turnkey and in a desirable area.

3) How (and When) Do I Set Up Home Inspections?

Once we have your home in escrow, I will help you schedule all necessary inspections and make sure we get the appointments set before we need to remove contingencies. The inspections are your chance to investigate what you’re buying so it is important that you be there for as many as you can so you can meet the inspectors and see what they see.

4) How Quickly Can I Close Escrow?

Most escrows can be closed in 30-45 days. If you’re paying all cash for your property or waiving contingencies, you may be able to close in less. However, you or the seller may need a longer escrow for a variety of reasons. We will negotiate the length of the escrow during the offer process and will find a timeframe that works for both you and the seller.

5) If I Want to Do the Repairs on My New Home Myself, Can I Ask For Concessions?

Yes, you can, though the seller may not be inclined to give them to you. A lot depends on their financial situation and the terms of your loan. The seller may be selling their home as-is because they truly cannot afford to pay for the repairs that are needed to fetch a higher price for the property. Certain repairs may also need to be completed prior to closing escrow in order to fund your loan. The lender will be able to advise on specifics, but most loans require the home to be habitable in order to fund.

6) How Much Should I Budget For Closing Costs?

Your actual closing costs will vary, but plan to budget 2% of the actual purchase price. So if the home you’re purchasing is $500,000 expect to pay around $10,000 and in closing costs. The escrow company will provide you with an estimate once you get into escrow, but in addition to your down payment, make sure you put aside money to pay closing costs – most buyers and sellers each pay their own closing costs so don’t expect the seller to cover this for you!

If you still have questions about the home buying process, please don’t hesitate to reach out. I don’t believe in stupid questions – I’m here to help you in any way that I can!

5 Things to Consider Before You Downsize

April 1, 2018 by Danielle Negroni

No matter how much you love your home, there will come a time when your house simply won’t fit your needs anymore. Perhaps your home feels too roomy now that your kids have gone off to college. Or maybe you’re just tired of lugging the vacuum cleaner up the stairs and are ready to purchase a smaller, single story home. Whatever your reasons, here are 5 things to consider before you downsize.

1) Know Your “Why”

It pays to keep your “why” firmly in the front of your mind. For most people, downsizing is not an easy task. You’ll likely need to spend a considerable amount of time decluttering and going through all the things you’ve accumulated after years in your current home. Having a strong reason to get to the finish line will keep you motivated when you’d rather throw in the towel.

2) Separate Yours Wants and Needs

As with any other home shopping experience, you’ll need to separate your needs from your wants before you start looking. This will allow you use your time more efficiently and help you avoid buyer’s remorse down the line. For tips on separating your wants from your needs, check out my recent blog.

3) Know How Small is Too Small

It’s important that you don’t get too hung up on purchasing the smallest possible home. Take time to think about the spaces you most enjoy in your current home, your hobbies, and how much time you plan to spend in your new house. You may find that “downsizing” really means downsizing on your monthly costs, not square footage.

4) Consider Your Costs

It seems simple on paper: smaller house = cheaper mortgage = more money in your pocket. But that’s not always the case. Particularly if you’re moving to a condo community, make sure you’ve factored in HOA and mello-roos fees. If your primary reason for downsizing is to save money, you’ll want to keep track of these “hidden” fees to ensure your monthly housing costs will truly be reduced.

You should also take into account how much it will cost to move and furnish a new space. Many times, people who downsize find themselves having to purchase all new furniture that will actually fit into their new space. A visit to a local furniture store can help you estimate your costs.

5) Explore Neighborhoods

San Diego truly has a neighborhood to fit every lifestyle. Just because you’ve spent the last twenty years in the same location doesn’t mean you have to buy another property in the same area. Imagining the possibilities is part of the fun of house hunting. Spend some time checking out communities before narrowing your list down to a couple to focus on during your search.

While it can be difficult to say goodbye to a beloved home full of wonderful memories, downsizing can be a fun and exciting adventure! If you’re thinking of making a change, I’d love to help you through this next step – give me a call to get started!

3 Reasons to Sell Your Home in 2018

March 20, 2018 by Danielle Negroni

“It’s a seller’s market!”

“Now is a great time to sell!”

As a San Diego homeowner, you’ve probably seen this phrase on one piece of real estate marketing mail after another for the last few years. It can be hard to discern if it actually is a great time to list your home or the Realtors who mail in your neighborhood are just saying that to get you to call them.

While it is a seller’s market and a great time to sell, it helps to have context for those statements:

In my last blog post, I took a look at the median sales price of homes in a few different San Diego housing markets. Many local markets are reporting prices we haven’t seen in ten years or more. In some areas, the median price for a detached home has far surpassed its 2006 pre-recession peak. But home values can’t continue to rise indefinitely. I believe we will see a decline in home values in the months to come as interest rates rise and the housing market peaks.

Interest rates have steadily risen nearly every week since the beginning of the year. Bankrate.com shows current interest rates for a 30-year fixed rate mortgage hovering around 4.5%.

As interest rates rise, they limit buyer purchasing power. According to a recent article from Rismedia, “If interest rates rise 1 percent and all other economic factors remain the same, purchasing power for homebuyers will decrease by just over 11 percent; therefore, every quarter-percent (0.25 percent) rise of interest rates reduces homebuyer purchasing power by 3 percent.” This means that someone who might have been able to purchase your home a few months ago might no longer have the buying power to do so, shrinking the pool of potential buyers for your home. The higher the value of your home, the more you will likely feel the effects of that shrinkage. Rising interest rates will help bring down prices at the top end of the market, as homeowners who are serious about selling might find themselves making concessions on price to get their home sold.

Once your home sells, you will likely need to purchase a replacement property. If you wait too long to sell your home, you might find yourself conceding on your sale price AND entering the market with less purchasing power that you would have had just a few months ago.

Finally, if your home is aging, you should keep in mind that you likely have some big-ticket repairs on the horizon. Depending on its composition, your home’s roof will need to be replaced every twenty to thirty-five years. The lifespan of a furnace is about fifteen to twenty years. Most appliances last no more than fifteen years. Waiting to put your home on the market means you could end up footing the bill for these repairs in order to sell the house, taking a hit on price to get your home sold, and then entering the marketplace with a lighter wallet and reduced purchasing power.

There’s one other point you should also keep in mind: the new tax law lowered the mortgage interest deduction from $1.1m to $750,000. In 2018 and going forward, your state, local, and real estate taxes are put into one pool for deductibility purposes. Between the three of them, you only can deduct up to $10,000 total. It’s hard to predict how these tax changes will impact the real estate market, but they do cumulatively place a heavier financial burden on the buyer.

If you’ve been on the fence about selling, it might be time to get off the fence and put a “For Sale” sign in your yard. I’d be happy to meet with you to discuss the specifics of your situation. Give me a call or send me an email to set up an appointment!

Is the Housing Market About to Peak?

March 10, 2018 by Danielle Negroni

If you’ve been thinking about selling your home and either downsizing or purchasing something else, now is a great time to do it! Market indicators are showing that the San Diego housing market is peaking and we are heading for a downturn or softening. Home values can’t continue to rise indefinitely so if you’ve been waiting for the moment to list your home, this is it!

Just take a look at these numbers:

* Home prices in Carmel Valley have reached a fourteen-year high. The median price for a detached home is now $1,215,000.

* In Del Mar, median home prices go up and down depending on the individual homes that have sold. But prices have been lingering around the pre-recession peak for many months now.

* Home values in Solana Beach are up 6% from last spring.

* In La Jolla, home prices have far surpassed their pre-recession peak and continue to rise month-over-month. In February, the median price for a detached home was $2.2 million dollars.

* And across the county, home prices are up 8.1% from last year at this time. The median home price is now $607,765, the highest it has been in fourteen years!

Curious to know what your home is currently worth? Want to know the best way to capitalize on this seller’s market AND get into a new home? Give me a call, I’d love to set up a time to discuss your unique situation!

[All data sourced from Sandicor MLS on March 10th, 2018]

What to Consider When You Have Multiple Offers For Your Home

March 4, 2018 by Danielle Negroni

The current San Diego real estate market is extremely competitive. With more buyers than homes for sale, listing your home in this market could result in multiple offers for your house. While this is a great position to be in as a seller, make sure you look beyond price when weighing the offers you receive. Here a few other things you should consider:

Length of the Escrow

A 30-day escrow is pretty standard in San Diego, but can go longer or shorter if all parties (including the lender) are willing and able.

If you need a quick close, a cash buyer is going to be your best option. Since there’s no loan involved, all the buyer needs to do is verify and inspect their purchase. A 10-14 day close is not outside the realm of possibility for a cash buyer.

But if you need a quick close, cash buyers aren’t your only option. Buyers need to specify the length of the escrow on their offer so make sure you look at what each buyer has offered you.

If you’re not in a hurry to close or are asking for a rent back anyway, a strong offer at the price you want with a 45 day or more escrow could be just as attractive as a cash buyer.

Funds

How much is the buyer putting down and how much of that are they offering as their Earnest Money Deposit (EMD)? These numbers not only paint a picture of the buyer’s financial stability, it also indicates how serious they are about buying your home. The larger the EMD, the more “skin” the buyer is putting in the game.

Contingencies

If an effort to stand out in a competitive marketplace, a buyer might offer to waive the normal contingencies – like the appraisal contingency. This is a bold move for a buyer to make and shows how serious they are about buying your home. As a seller, you want to work with a committed buyer who is unlikely to back out during escrow – leaving you with a house you still have to sell.

Buyer Extras

You should also consider the allocation of closing costs. What is the buyer offering to pay for? Are they covering all of the items that are typically covered by the buyer or are they asking you to pay for any of those items? Maybe they’re offering to pay for some of the items that are typically covered by the seller – which would save you some money.

Contingent Offers

Sometimes you will get offers that are contingent on the sale of the buyer’s current home. If you have multiple offers on the table, it could be tempting to immediately disqualify the contingent offers. But before you do, make sure you have considered the rest of the offer and how well it aligns (or doesn’t align) with your own goals. If you’re not in a hurry and the offer otherwise looks strong and offers the price you want, you might want to seriously consider that contingent offer.

Your agent should be able to tell you how long they think it might take the buyer to sell their home based on the market conditions. Though your agent can’t tell the future, they should be knowledgeable and experienced enough to give a rough estimate of how quickly that home might get into escrow. Your agent is also responsible for communicating with the buyer’s agent to see if there has been any activity on the home or if they might be close to accepting an offer. These are all important things to know when considering a contingent offer.

If you do decide to go with the contingent offer, your agent will talk to you about countering back with a specific timeframe for the buyer to get their current home into escrow. If you give the buyer two weeks to sell their home and it doesn’t happen, you’ll be free to move on to another offer.

You also might find that the contingent buyer’s home is already in escrow – which means less risk to you if you go with their offer. They’ll be motivated to see the deal through since they’ll need somewhere to live when their current home closes.

The Buyer

Finally, it’s important to consider the buyer behind the offer. You should look at both their financial situation and who they are personally.

On the financial side of things, you should make sure the buyer has been pre-approved for a loan. You should also look at what amount they were pre-approved for. If your home is at the top end of the budget, they probably won’t have any more room to go up in price or cover any additional costs that might come up during the escrow. If your home is comfortably within their budget, they might have more capital to play with to close the deal.

On the personal side, who is the buyer? Are they a family? A young couple? An investor? While it might not make financial sense on paper to let your personal opinion of who should buy your home guide you when deciding between offers, at the end of the day, it’s your home and you can choose any of the offers on the table. If you’d rather go with a family who is offering you a little less than a cash investor offering full price, you can do that.

Your agent is there to help you evaluate and decide between the offers you receive. This is where working with an experienced, knowledgeable agent can really benefit you. I have successfully helped many San Diego sellers sell their homes – with and without multiple offers. If you’ve been thinking of listing your home for sale and would like a free consultation, give me a call!

18 Things to Evaluate When Touring a Home For Sale

February 25, 2018 by Danielle Negroni

If you’re searching for a new home in San Diego, you might see five homes or fifteen before you find “the one”. While it’s important to consider whether you like the home or not, there are other things you should consider as well. Here are 18 things you should evaluate before moving forward with the purchase:

How’s The Neighborhood?

When you buy, you’re not just getting a house. You’re buying the neighborhood, too. Make sure it’s somewhere you can see yourself living. You should also check if the house you’re touring is the best house on the block…which could be a problem when you go to sell it.

How Many Homes Are For Sale on the Same Street?

Neighborhoods turn over all the time, but if there’s a sign in almost every front yard, it could mean there’s something wrong with this location.

What’s the Parking Situation?

This isn’t such a big deal if you’re buying in a suburban area, but you’re looking to live in an urban area or near the beach, you’ll want to check out the parking situation. Does the home or condo have its own dedicated parking spaces? If so, where are they in relation to the property? If there’s a garage, will your car(s) actually fit in it? How about the driveway? Is it long enough or wide enough to accommodate your vehicles?

Are There Exterior Signs of Neglect?

When you walk up to the home, pay attention to its curb appeal. Are there weeds? Cracks in the driveway or walkways? Is the paint peeling? If the home shows exterior signs of neglect, chances are the home as a whole hasn’t been well cared-for. Most problems will be uncovered during the home inspection, but the home might have up-front maintenance issues after you move in.

Is the Roof in Good Condition?

Roofs can be pricey to repair or replace. And if the roof isn’t in good condition, there could be water damage or rot underneath. Ask your agent about the age of the roof and take note of any missing shingles or tiles.

Is the Lot Level or Steep?

When viewing a home, you should also be thinking about what you might like to do with your property in the future. A level lot will afford you the most options for the least amount of money. A steeper lot might take some creative engineering (and a lot of cash) to make your dreams a reality.

How’s the Layout?

Once you get inside the home, you should take note of the floorplan of the home. Does it flow naturally from one space to the next? Or does it feel choppy and awkward? The latter might not necessarily be a dealbreaker, but you should always have the property’s resale value in the back of your mind.

Does the Home Receive Adequate Natural Light?

If you can, view the property at different times of the day and note how much light comes in. You can combat poor natural lighting with artificial lamps, but your energy bills will likely go up as a result.

You should also consider the home’s orientation. In the summer, any rooms that face west will be warmer than the rest of the house. If the home doesn’t have A/C, those rooms might be too hot to use. That could be a problem if they are ones you plan to spend a lot of time in – like the living room, home office, or kitchen.

What’s the Condition of the Appliances?

You can ask your agent to find out the age of the appliances in the home, but you should also inspect them yourself for signs of aging. Look out for rust, mold, or other evidence of neglect. If the appliances in the home you’re considering buying are older, you’ll probably need to budget to replace them in the next couple of years.

Are There Interior Signs of Neglect?

It’s easy to tell at a glance if a home has been well-cared for. Is the paint peeling or discolored? Are the baseboards scuffed? Is there a layer of dust in the corners of the room? Any unidentifiable stains on the floor? Yes, these are all superficial issues, but there are likely other, deeper problems hiding beneath the surface.

Does the Home Have a Musty or Odd Smell?

If the home smells damp or musty, there could be mold somewhere. If the home smells like pets or smoke, you’ll likely need to replace the carpet and flooring to get rid of it.

Do the Doors or Windows Stick? Are There Cracks Around the Windowsill?

Unless the sellers have explicitly designated an area as off-limits, don’t be shy about opening and closing the doors and windows. Sticking can be a sign of poor installation or foundation issues. Either one presents a costly problem to fix. You should also look for visible cracks around the windows. This can indicate that the home has foundation problems.

Is There Ample Closet Space?

Make sure you check out the closet space in the home. Even a small house will feel spacious if there’s enough room to store your things.

How Are the Pipes?

Plumbing is such an integral part of the house that it can be costly to repair. Discretely check under the sinks and around the showerheads and toilets. Is there any discoloration or spots of mold? These could be signs of a leak. You should also turn on the water and flush the toilet to check the water pressure. Poor water pressure could indicate a plumbing problem.

What’s the Privacy Like?

While you’re looking at the home itself, don’t forget to look out the windows. Can the neighbors see straight into your bedroom or bathroom? You may be able to build a higher fence or add hedges, but you’ll have to budget for these modifications and live with the situation until the work is done.

How’s the Noise Level Inside the Home?

Make sure you use your ears when viewing a home. Can you hear the road? The neighbor’s dog? The playground nearby? You may think you can live with the noise…but it also might drive you crazy after moving in.

Is There Water Damage on the Ceiling?

Don’t forget to look up as you walk through the home. Stains or discoloration on the ceiling could be a sign that the roof leaks. If this issue has been going on for awhile, the repairs could be costly.

How Much Maintenance Will the Yard Require?

Everyone wants a big, grassy backyard until they realize how much time and energy is required to keep the grass green and neatly trimmed. Same with a pool. If you don’t see yourself spending a lot of time enjoying that pool or patch of grass, you’ll probably like taking care of it even less.

If you’re ready to start touring homes in San Diego or have found “the one”, I would love to represent you!

What Propositions 60 and 90 Mean For You

February 18, 2018 by Danielle Negroni

If you are age 55 or older and live in San Diego County, you need to know about Propositions 60 and 90 and how it can benefit you! If you’ve been thinking of selling your current home and downsizing or moving to a different home, these propositions can make moving easier on your wallet.

What is Proposition 60?

If you’re age 55 or older, Proposition 60 allows you to move within the same county (in this case, San Diego) and transfer your base year value. Your property’s base year value is tied to Proposition 13, which was established to protect buyers from increases in property taxes by setting a base year value on a property. If the property was acquired in 1975 or earlier, the base year value is set for the property’s assessed value in 1975. If the property was purchased after 1975 then the base year value is set by the market value of the property at the time of purchase. Under Proposition 60, when you purchase a new property you can transfer that base year value to the new home!

What Are the Restrictions of Proposition 60?

-You or your spouse must be 55 years of age.

-You must sell your home and purchase a new property within two years.

-The value of the replacement property must be equal to or less than the value of your current home.

-Proposition 60 only applies to primary residences, not investment properties.

-Proposition 60 can only be utilized one time unless you become disabled and need to move again to a property that fits your needs.

What is Proposition 90?

Proposition 90 is similar to Proposition 60, except for that it allows you move from one participating county to another in the state of California and still receive the same benefits of Proposition 60. The participating counties are as follows:

Alameda County
El Dorado County
Los Angeles County
Orange County
Riverside County
San Diego County
San Mateo County
Santa Clara County
Ventura County

Where Can I Find More Information on Propositions 60 and 90?

To learn more about Propositions 60 and 90, you can read the FAQ page on the California State Board of Equalization website here.

I’ve Decided That It’s the Right Time For Me to Make a Move – What Should I Do Next?

If now is the right time for you to sell your current home and purchase another, give me a call to get started!

Home Improvement Projects With the Best ROI in the San Diego Area

February 12, 2018 by Danielle Negroni

Most San Diego homes could use a few updates before going on the market. But you want to make sure you’re investing in the right home improvement projects. In my experience, these are some of the best updates you can make to your home to maximize your ROI:

Necessary Updates: Before getting into more cosmetic and trendy choices, you should make sure your house is in good condition. If the roof needs repairs or the windows need replacing, you should take care of those things before remodeling the kitchen or bathrooms. These updates may not be glamorous, but most buyers want to purchase a home that isn’t going to need immediate maintenance.

Curb Appeal and Landscaping: First impressions are lasting. Paint or replace the front door, get new house numbers, install outdoor lighting, and plant some colorful flowers to help your home make a great first impression on potential buyers!

Interior Paint: Painting the interior of your home is one of the cheapest and easiest updates you can make. Choosing a trendy color like white or grey and applying it to the walls, ceiling, trim, baseboards, railings, and cabinetry can dramatically makeover your home!

Flooring: You might not need to necessarily replace your home’s flooring, but it could probably use some TLC!

-If you have carpets, replacing them is your best bet. Carpet is made to last anywhere from 5-15 years, but most homebuyers will look skeptically at any stains. If replacing carpet is not in your budget, then hire a professional cleaning service.

-If you have hardwood floors, consider having them refinished before putting your home on the market. This will take care of any scratches or gouges in the wood.

-If you have laminate wood floors that appear worn out or scratched, you should replace the flooring. Laminate wood floors cannot be repaired or refinished like hardwood floors.

-If you have tile floors, hire a professional to repair any cracked or broken tiles.

Exterior Paint: If the paint is cracking and peeling, you should definitely consider repainting your home – it will give buyers the impression the home has been well cared for. If the paint is in good condition, you may be able to get away with just power washing the exterior.

Minor Kitchen Remodel: Updating your kitchen doesn’t have to be a big undertaking. In fact, minor kitchen remodels tend to offer better returns that major remodeling jobs! In a minor kitchen remodel, cabinets are usually replaced, repainted, or refinished. Old hardware and appliances are swapped out for new ones. New countertops may be installed. But in contrast to a major remodeling job, no structural changes will be made and the layout of the kitchen will remain the same.

Garage Door Replacement: Replacing your home’s garage door might not seem like a big deal, but it is one update that consistently tends to yield a great return on your investment at the time of resale!

Every home’s remodeling needs are different. If you’re not sure what investments will offer the best ROI, give me a call! I’d be happy to discuss how the House 2 Home program can get your home ready for market!