Mark Levenson

Is HGTV an accurate home buying model?  Sometimes yes and sometimes no.  I have to admit that I really enjoy watching HGTV and have learned about what properties cost in various parts of our country as well as in other countries around the world.  But let’s face it.  There is plenty of acting going on in many of the episodes and very little realistic dialogue between the REALTOR® and clients.  In real life, it is important for me, as a San Diego area real estate professional, and my clients to have a clear understanding about what is realistic for them as well as bouncing ideas about specific cities within communities and the pluses and minuses of each.  That way, I can focus on showing you only the properties that fit your particular wants and needs instead of overwhelming you with homes that may not work.

Have you ever noticed the only thing that is usually discussed in regards to areas are whether they are within close proximity to the couple's work or another family member's home?  This is not realistic enough for me.  I have found that my clients tend to base their San Diego home buying decision on the location of a home in regards to their areas of interest, shopping, caliber of schools, future resale and appreciation potential, etc. instead of where they work or which relative lives nearby.

If you would like to know more about your options for owning a great San Diego home, please contact me today.  Take charge now!  Do it while the rates are still at 60 year historic low rates.  There is no better time than now.  I help military with marginal credit and give FREE counseling advice.  Call Mark Levenson today for a FREE 1 hour consultation so we can get you and your family started on the road to your new home.  You’ll be glad you did.

Mark Levenson, Helping You Buy and Sell Homes, Condos & Investment Property
“Building Dreams One Client At A Time”
Over 1,000 Clients Served Since 1981

We're only a few days into the new year and there's already great news to report.  According to a recent report  employment is up, unemployment is down and home prices have gotten even more affordable.  While rent has gone up approximately 4%, home prices in the San Diego area have actually gone down around the same amount.  It seems that homeownership is still the way to go!

While San Diego is experiencing a slightly higher job growth rate than the rest of the state (we are at 3% while the rest of the state is around 2.2%), the entire state is continuing to try to recover from previous unemployment numbers.  More than 50% of October 2011's home sales were from distressed homes.  Currently, however, sales of foreclosures are on the decline.  Currently, they make up about 34.1% of the market, down from the previous year's 36.7%.  Indications are that banks are now more willing to work with homeowners by switching their focus from foreclosures to short sales (short sales make up about 19.5% of the resale home market, up from 18.2% the year before).

The median price for a San Diego area home has decreased as well.  This helped boost home sales by 8.5%.  Inventory of single-family detached homes available for sale has gone down, too.  There is currently a 5.3 months supply on hand, down from the previous 6.2 months of inventory.

If you are interested in buying a San Diego area home, you had better start looking now.  Many local communities have found that excess inventory is quickly being absorbed back into the market and prices have either stabilized or are even beginning to increase.  Mortgage companies have begun to ease their lending restrictions.  Coupled with the continuing low interest rates available, it's a fantastic time to get your piece of the pie.

Sellers are experiencing success in the Coronado marketplace as well.  Remember to work with your real estate agent to price your home competitively so it sells in a timely manner.  Make sure they run comps in the area to help you decide on the right sales price for your home.  Getting a home inspection can help you fix your home's trouble areas before you place it on the market.  This can help keep your sales price up as well.

If you need help buying or selling a San Diego/Coronado home, please don't hesitate to contact me.  I've helped more than 1,000 individuals and military families find their perfect home for almost three decades now.  Let me help you today.

Mark Levenson, Helping You Buy and Sell Homes, Condos and Investment Property
“Building Dreams One Client At  A Time”
Over 1,000 Clients Served Since 1981

Is there a ‘best’ or ‘right’ time to purchase your new VA Zero Down Payment San Diego home?  Right now is probably the best time to purchase a home using your VA eligibility for many reasons.  Here are a few of them:

1. Interest rates are at record lows and are hovering around 3.8 - 4.25 % fixed for 30 years. This is something we haven’t seen in many decades.
2. Prices have adjusted and have actually come down over the past 5-6 years.  This has been due to over extended loan financing and foreclosures.
3. Purchasing power is strong due to these first two points.  Since there is no down payment using VA financing, it is the monthly payment that is actually being purchased. 
4. Because of these factors, a typical San Diego military family can now purchase a beautiful 3 or 4 bedroom home or condo in a very nice single-family, ‘pride of ownership’ neighborhood.  This has been unheard of in a city of such high demand as San Diego.  Take advantage of this once in a lifetime opportunity!
5. Finally, buying at the bottom of the market allows for the home purchaser to experience a substantial increase in property value – especially if you hold onto to it for 5-10 years or longer.

If you would like to know more about your options for owning a great San Diego home, please contact me today.  Take charge now.  Do it while the rates are still at 60 year historic low rates.  There is no better time than now.  I help military with marginal credit and give FREE counseling advice.  Call Mark Levenson today for a FREE 1 hour consultation so we can get you and your family started on the road to your new home.  You’ll be glad you did.

Mark Levenson, Helping You Buy and Sell Homes, Condos and Investment Property
“Building Dreams One Client At A Time.”
Over 1,000 Clients Served Since 1981
Buy for No Money Down and No Closing Costs!

According to the latest market trends report, the Southern California real estate market is continuing to provide excellent investment opportunities for buyers.  In fact, even with the dreary news reports to the contrary, sales of homes in the San Diego area appear to be poised to rival the sales from last year, when the tax credit incentives helped boost sales for half the year.  The San Diego real estate market has 5.1 months of unsold inventory on hand as of September 2011 (the date of the most recent market statistics).  This is down from 5.9 months of inventory on hand during the same time period last year, showing that demand for and sales of homes has increased.

September 2011 marked the third month in a row that home sales increased, staying at a "stable level" per the California Association of REALTORS®.  The total sales volume for September 2011 was 6.7% higher than September 2010, with the median price for a California home being $249,000 (down $16,000 from last year).  Pending sales were also up for the fifth month in a row compared to the same period last year.

The 3.2% decrease in month-to-month sales prices was attributed primarily to the large levels of foreclosures and short sales on the market (34.2% of total sales were for foreclosures while 17.8% went towards short sales).  They tend to be sold at much lower prices than traditional San Diego area homes.

These more affordable prices and the availability of conforming loans with low down payments helped first-time homebuyers and lower income buyers purchase homes this year.  Investors have also been inspired to jump into the San Diego area real estate market thanks to the great deals out there.  In fact, 59% of properties purchased solely for investment (not occupied by the owner) were paid for in cash in September 2011.  Those that did take out a loan to fund their investments found that their payments were almost $100 less per month than the same time last year.  But, with the rate of foreclosures decreasing (down 15.7% from the third quarter of 2010), buying a foreclosure at auction won't be as easy as before.

As of this writing, the interest rate for a 30 year fixed rate mortgage is 3.77%-4.36% APR, according to Bankrate.com.  With interest rates continuing to hold steady at historically low levels, inventory of San Diego homes plentiful and varied and affordable prices, there's no reason you shouldn't consider buying a home today.  Whether you want to find a larger home for your growing family, downsize after the kids have moved out, need to buy your first home or want to find an investment property to expand your real estate portfolio, I can help you find the right property for your needs.  Just contact me today to get started.

Mark Levenson, Helping You Buy and Sell Homes, Condos and Investment Property
“Building Dreams One Client At A Time”
Over 1,000 Clients Served Since 1981
Buy for No Money Down and No Closing Costs!

When it comes to the spirit of Christmas and gift giving, the Christmas Spirit Foundation corners the market.  They provide free Christmas trees for military families across the nation.  This helps to ensure every military family has a wonderful Christmas holiday.  Deliveries begin November 29 and will continue through December 9. 

Since 2005, the Christmas Spirit Foundation, in conjunction with FedEx has delivered over 84,000 Christmas trees to military families.  So, if you’re a military family and would like a donated tree, visit the Christmas Spirit Foundation site for their delivery list.

About the Christmas Spirit Foundation

The Christmas Spirit Foundation is a non-profit branch of the National Christmas Tree Association.  The foundation was incorporated in Missouri, but has branches all across the nation.  They have even received the IRS 501 charitable organization status.   However, to continue great programs like this one, they depend on your charitable giving’s throughout the year.

The focus of the Christmas Spirit foundation is to stay committed to keep the Christmas spirit alive and growing for generations of children and families for years to come.  So, if you’d like to help, you can do so in many ways.  You can donate online at christmasspiritfoundation.org, you can donate offline by visiting their site and printing the donation form to mail in your donation, or you can volunteer to help deliver the trees. 

In the spirit of Christmas and free trees…Everyone have a very Merry Christmas and a happy New Year.

Mark Levenson - Helping You Buy and Sell Homes, Condos & Investment Property

“Building Dreams One Client At A Time”
Over 1,000 Clients Served Since 1981

This is the time of year we stop and give thanks for all the blessings we have.  If you're interested in showing your gratitude to the brave men and women who serve our country in the military as well as giving thanks to the families that support them behind the scenes, consider being a Secret Santa.  The Armed Services YMCA at Camp Pendelton offers a Secret Santa program for members of the general public to show their appreciation to military members by sponsoring a family each year.

Through the Secret Santa program, a military family (with a junior Service Member ranking E-5 or below) will fill out their own "wish list" of what the military family wants/needs for Christmas.  These lists are filtered through the Armed Services YMCA staff and passed along ot members of the San Diego community interested in being a Secret Santa.  Along with the wishes, the sponsoring civilian family will be given the first names of all family members, the ages of the children, their clothing sizes (where appropriate), the rank of the active military member and the unit they serve in.  The sponsoring family shop for items on the list , wrap the gifts and drop them off at the YMCA administrative office.  Members of the YMCA staff will then hand out the gifts to the military families on specified days just before Christmas.

The Secret Santa program at the Armed Services YMCA in Camp Pendelton has been an incredible success over the year for both the families of our military members as well as the San Diego community at large.  If you, your company or an organization you belong to wish to be a Secret Santa, please call 760-385-4921 today.

Happy Thanksgiving,

Mark Levenson - Helping You Buy and Sell Homes, Condos and Investment Property

“Building Dreams One Client At A Time”
Over 1,000 Clients Served Since 1981
Buy for No Money Down and No Closing Costs!

We owe an incredible debt to the brave men and women who fight for the freedoms we enjoy everyday here in this country.  The San Diego Veterans Museum and Memorial Center believes that only honoring them one day a year simply isn't enough.  Instead, every third Saturday of the month in San Diego, the center holds a memorial service to honor vets from current and past wars, including those that were not honored in the previous month's service.

The next service will be held at the Veterans Memorial Center in Balboa Park (2115 Park Blvd, San Diego) this Saturday, November 19th from 12:30pm to 2pm.  The service will be take place in the Main Chapel of the center and will include the reading of names, a 21-gun salute and the playing of Taps.  This service is always free and open to the public.  Full military burials are provided by Dignity Memorial and Glen Abbey Mortuary for all indigent Vets.  For more info, please contact the Veterans Memorial Center's information desk at 619-239-2300.

Military service members do so much for us and ask nothing in return.  This memorial service in San Diego is a nice way to show your appreciation for all that these amazing men and women have selflessly sacrificed their lives for us, the American people.  If you can, please find a way to come to a service.  If you can't do it this month, there will be another one on December 17, 2011 at the same time.

Thank you,

Mark Levenson - Helping You Buy and Sell Homes, Condos and Investment Property

“Building Dreams One Client At A Time”
Over 1,000 Clients Served Since 1981
Buy for No Money Down and No Closing Costs!

It just became cheaper to finance a VA loan.  When military members purchase a San Diego single-family home or condominium through the VA loan, they are charged a funding fee.  On October 1, 2011, the VA funding fee was reduced.  This means that the cost of financing a VA loan is less, which makes your monthly payment less (because the fee is usually incorporated into your monthly payment) and, ultimately, makes it more affordable to buy a San Diego home.

Federal Government backed loans (like VA mortgage loans) are required to charge a VA Funding Fee as part of the loan process to act as an insurance measure.  The reduction in the VA Funding Fee affects all VA loans that close on or after October 1, 2011.  These are the changes currently in affect for all VA loans:

• The funding fee will be 3/4% for both active and retired service members, Reservists and National Guard members the first time they use their VA entitlement.
• When using their VA entitlement for the second time (or higher), the funding fee will be a 1/2% for any military member (active or retired) putting down 5% or less as well as cash-out refinance transactions and 3/4% for any military member using more than 5% as a downpayment.
• All rate reduction refinancing loans will continue charging 1/2% for the VA funding fee (no changes to previous rates).
• All disabled veterans (who were disabled while in the line of duty) and surviving spouses of military members who died or were disabled while in the line of duty remain exempt from paying the funding fee.

If you are confused about which category you fall under, contact your VA representative.  If you don't have a great VA loan representative, please contact me and I will refer you to one.  Any member of the military who is looking to buy a San Diego home should seriously consider using their VA entitlement, especially since the VA funding fees have been reduced.  

Interest rates continue to hover around 4%.  This is a 60 year low.  There are some great VA homes to choose from in the San Diego area.  Home prices are more affordable than ever before.  Many clients I'm helping are paying the same or less to own their own home than their current BAH and rent payments!  Contact me to find out which homes are selling under VA terms and I'll be happy to help you find the home of your dreams.

Mark Levenson - Helping You Buy and Sell Homes, Condos and Investment Propert

“Building Dreams One Client At A Time”
Over 1,000 Clients Served Since 1981
Buy for No Money Down and No Closing Costs!

With such dizzying swings in economic indicators, it’s hard to decipher which direction housing is heading. But as prices bounce along the bottom, a rebound in the future looks more and more certain.

Distressed homes are 40% off peak prices, while existing home prices are 30% lower,said Peltier. That means incredible opportunities abound for those in the position to take advantage of record affordability. The National Association of Home Builders/Wells Fargo Housing Opportunity Index found that 73.9% of all homes sold in Q4 2010 were affordable to families earning the national median household income of $64,400 – the highest HOI in 20 years. 

Further, mortgage delinquency has declined every month in 2011 according to Freddie Mac, so the much-feared shadow inventory of homes taken back by lenders may be declining.

California is a perfect illustration of this phenomenon. Statewide housing sales were up 33.3% in March 2011 over February, but down 2.4% from a year ago, says DataQuick. The median price paid for a California home in March was $249,999, up 2% from $244,000 in February but 2.4% below the $255,000 median price of March 2010.