Home buyers, as well as sellers, love swimming pools….but they can also hate them. A pool can be a family oasis during swim season, or a mosquito breeding swamp during the off seasons. They can also put small children at risk, while still providing a full body workout for hard core athletes.

These days, with construction down, chances are you can drive a hard bargain to have a pool installed. However, it will still cost you tens of thousands of dollars, and because of the love hate relationship between buyers, it is not guaranteed that you will get a full return on your investment when it comes time to sell; especially during the harsh winter months in areas across the country.

If you plan on adding a swimming pool to your property, take as much time considering and planning for the improvement as it will take the contractor to put you in the swimming pool.

Value Factors

In a community with already existing pools, a pool could boost your home’s value nearer to the value of homes with pools. In a community without many existing pools, your return could be smaller because you’ll attract a smaller group of buyers. However, if many of the homes in your community do not have pools, you may be able to command a higher price for your home because of the unique factor that it does. Analyze your community and what homes with pools usually sell for to give you an accurate amount of the return on your investment.

Design factors

A pool will erase a large chunk of your property. It’s design must be a good fit for your family and your property. Once your plan reaches the blueprint and permit stage, changes can rack up additional costs.

• Drag out the hoses.Use a connection of garden hoses to outline your pool’s location to get a feel for the space you’ll loose to a pool. The hoses allow you to easily and quickly visualize a variety of pool shapes and sizes. Likewise, heavy rope, brightly colored power cords and other materials can serve the same purpose. Leave each design in place for a few days to really get a feel for pool space.

• Engage the neighbors.While discussing pool values with your neighbors, especially those who put in a pool after moving in, ask them to share their pool experience. Ask about their likes and dislikes; what changes they’d make; how long and disruptive it was to install the pool; and ask about unexpected costs. You’ll also want nearby neighbors to know major construction may be afoot.

• Start a scrapbook.Start a collection of pool images collected from magazines, showrooms, online searches, your own photos and other sources. Collect pool images that are alluring to you and stockpile images that contain pool features you like. The images will help you visualize the form and function you want built into your pool. After a while, you’ll see a common thread in the type of pool you desire.

• Make a wish list.Go overboard. Right now, don’t consider cost. From your images make a list of all the features, designs and other elements that would create your dream pool. Then budget what you can really afford, what will actually fit in the allotted space and otherwise whittle down the list you can show the contractor, along with the images you’ve gathered.

Both the value and design pre-work will help quickly get your pool improvement project off the drawing boards and onto your property.

Information from Realtytimes.com

Short Sale vs Foreclosure – 10 Common Myths Busted

by Brandon Brittingham on May 9, 2012

It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale?

A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have been doing short sales for years. Only recently, due to the current state of the housing market and economy, has this process become a part of the public consciousness.

To be eligible for a short sale you first have to qualify!

To qualify for a short sale:

• Your house must be worth less than you owe on it.
• You must be able to prove that you are the victim of a true financial hardship, such as a decrease in wages, job loss, or medical condition that has altered your ability to make the same income as when the loan was originated. Divorce, estate situations, etc… also qualify.

Now that you have a basic understanding of what a short sale is, there are some huge misconceptions when it comes to a short sale vs. a foreclosure. We take the most common myths surrounding both short sales and foreclosures and give a brief explanation. LET’S BUST SOME MYTHS!!

1.) If you let your home go to foreclosure you are done with the situation and you can walk away with a clean slate. The reality is that this couldn’t be any farther from the truth in most situations. You could end up with an IRS tax liability and still owing the bank money. Let me explain. Please keep in mind that if your property does go into foreclosure you may be liable for the difference of what is owed on the property versus what is sells for at auction, in the form of a deficiency balance! Please note this is state specific and in most states you will be liable for the shortfall, but in some states the bank may not always be able to pursue the debt. Check your state law as it varies widely from state to state.

Here is an example of how a deficiency balance works

If you owe $200,000 on the property and it sells at auction for $150,000, you could be liable for the $50,000 difference if your state law allows it.

Not only could you be liable for the difference to the bank, but in some situations you could also be liable to the IRS! Although there are exemptions (mostly for principle residences) under the Mortgage Debt Forgiveness Act, there are times when you could be taxed on both a short sale and a foreclosure, even in a principle residence situation. Since the tax code on this is a little complicated and I am not a CPA, I advise always talking to a CPA when in this situation as you are weighing your options. Hard to believe? Well, believe it or not, the IRS counts the difference between the sale and the charged off debt as a “gain” on your taxes. That’s right-you lost money and it’s counted as a gain! (I didn’t make that rule, that’s a wonderful brainchild of the IRS). Banks and the IRS can go as far as attaching your wages. Not to mention if you let your home go to foreclosure you will have that on your credit, as well.

Guess What? A short sale can alleviate your liability to the bank, in most situations. There are also exceptions to this, but in most cases banks are releasing homeowners from the deficiency balance on a short sale.

2.) There are no options to avoid foreclosure. Now more than ever, there are options to avoid foreclosure. Besides a short sale, loan modifications along with deed in lieu are also examples of the many options. In most cases (but not all) a short sale is the best option. Either way, there are more options today than there have ever been to avoid foreclosure.

3.) Banks do not want to participate in a short sale, or, it is too hard to qualify for a short sale. Banks would rather perform a short sale than a foreclosure any day. A foreclosure takes a long time and creates a huge expense for the banks; a short sale saves both time and money. Banks have more foreclosure inventory than ever before, and certainly do not want any more. Banks more than ever welcome short sales. Qualifying for a short sale is easier than you think, you need to have a true financial hardship, or a change in your finances and your house has to be worth less than what you owe on it. Not only do consumers, but banks also now have government incentive to participate in short sales.

4.) Short sales are not that common. At this present time, short sales range from 10-50 % of sales in various markets and it is predicted that in 2012 we will have more short sales than any other year, to date. Due to economic changes in the last few years, this is something that is affecting millions of Americans. Short sales are in every market, and are not just limited to any particular income class. This has affected everyone from all facets of life. A short sale should be looked at as a helpful tool, not a negative stigma. That is why the government is offering programs that actually pay consumers to participate in short sales. It is not just affecting one community; it is affecting communities and consumers across the nation.

5.) The short sale process is too difficult and they often get denied. Though the short sale process is time consuming; it is not as difficult as the media would have you believe. The problem is that most short sales are denied because of a misunderstanding of the process. It is true that if the short sale process is not followed correctly there is a good chance of getting denied. An experienced agent knows how to avoid this. Short sales require a lot of experience, and a special skill set. If you are looking to go the option of a short sale make sure your agent is skilled and experienced in this area.

6.) Short sales will cost me money out of pocket. A short sale should not cost you any out of pocket money. In fact, you could get between $3000-up to $30,000 to participate in a short sale. In many ways, a short sale may put you in a better financial position than prior to the short sale. Almost every short sale program now has some type of financial incentive for the home owner, as long as it is a principle residence, and we are even seeing relocation money being paid on some investment/second homes. As a seller of a property you should never have to pay for any short sale cost upfront to any professional service. Realtors charge a commission that is paid for by the bank. In most communities there are also non-profits and HUD counselors who can help you with foreclosure prevention options for free. The only potential cost you could incur is if the bank would not release you from a deficiency balance in the short sale, which is happening less and less now.

7.) If I am behind on my payments, I can perform a short sale any time. The farther you get behind on your payments, the harder it is to get a short sale approved. The closer a property gets to a foreclosure the harder it is to convince the bank to perform a short sale. As they get closer to a foreclosure sale more money is spent, thus deterring them from doing a short sale. If you think you need to perform a short sale, time is of the essence; the sooner you start the process, the better. Waiting too long can trigger the ramifications of a foreclosure, losing the ability to do a short sale as a viable option.

8.) I have already been sent a foreclosure notice so I can’t perform a short sale. For the most part just because you received a foreclosure notice or notice of default it does not mean that you do not have time to perform a short sale. The timeline and specifics do vary from state to state, but having done short sales all over the country, I have seen banks postpone a foreclosure to work a short sale option as close as 30 days prior to the scheduled foreclosure auction, but the longer you wait the less chance you have. If you have received a legal foreclosure notice, please reach out to a professional right away. The longer you wait, and the closer you get to foreclosure, the fewer options you have. If you have received a notice to foreclose this means the bank is filing paperwork and starting the process to take legal action to repossess the house. You still have time at this point to prevent foreclosure, but do not hesitate! The closer you get to the foreclosure date the harder it becomes to negotiate with the bank for whichever option you choose.

9.) I was denied for a loan modification, so I know I will get denied for a short sale. Short sales and loan modifications are handled by two separate departments at the bank. These processes are totally different in approval and denial. If you got denied for a modification you can still apply for a short sale; in some cases you can get a short sale approved faster than a loan modification, as some loan modifications are denied because they cannot reduce the loan low enough based on the consumers income.

10.) If I go through a short sale I cannot buy another house for a long time. The time to buy another house depends on your entire credit picture and can vary from 12-24 months. There are even a few FHA programs that allow for a purchase sooner than that. I have worked with clients who went through a short sale and bought another house in less than 12 months.

These are just a few of the common myths surrounding short sales and foreclosure. With the options available today, no homeowner should ever have to go through foreclosure, and hopefully this information can help a few more homeowners think twice before walking away from their home not realizing the possible long term ramifications a foreclosure can have.

For more information, read more of the article at KCM’s Blog.

San Marcos High School was ranked as the Third Best High School in California and Eleventh Best High School in the Nation!

This is very exciting, as many of the schools in this district already have high API scores as it is. With a remodel on the way and recognition like this, The Knights are unbeatable! Any negative opinions or pre-conceived notions about San Marcos High School have now officially been squashed.

To see where your neighborhood’s schools ranked, check out the California and Nationwide results.

On that note, one of our current sellers had these nice things to say to our Owner, Julie Houston:

“Julie -

When the subject of Realtors comes up rarely are they associated with descriptive adjectives such as authentic, ethical, sincere, accessible, respectful and solicitous; yet, the Houston Team is all of these and more. Having worked closely with Judy Marsh and after meeting you, we realize you have truly set the bar high. When we decided to put our home back on the market we did not even consider another real estate company. Both you and Judy are not only beautiful and smart, you exude confidence and sophistication–sweet Michael (Jacobo) is principled and very cool as well.

Have a beautiful day and thanks again for all you do. Namaste.”

We so appreciate your kind words and are grateful to be able to work with wonderful people like you. It is you who make us love our job so much!

In fact, the San Diego Union Tribune has confirmed that there has been improvement in zip codes across the county. While some neighborhoods have shown more home sales over others, it’s still a good sign of the road to recovery. So has your zipcode stabilized and how does it stack up against the others?

Read the article and find out!

So what better day to celebrate our love of all things Mexico than Cinco de Mayo? If you and your amigos have been looking for something fun to do this weekend, no problemo!  We’ve got you covered!

Fiesta Old Town Cinco de Mayo - Old Town San Diego

May 4th – May 6th (Saturday: 11am-10pm, Sunday: 11am-5pm)

This popular Cinco de Mayo celebrations has ongoing sizzling flamenco beats and Mariachi music with tons of food, and of course, a few margaritas!

San Diego Padres’ Cinco de Mayo Party – Petco Park

May 4th (Starting at 5pm)

The party will feature some great Cinco de Mayo offers, like $5 beers, $5 margaritas, and $5 carnitas tacos, as well as live music! The first pitch against the Florida Marlins starts at 7:05 p.m., so make sure to time yourself well so you’ll still have their Executive Chef’s famous tacos to snack on and ice-cold margaritas to sip on during the game.

 Happy Hour Cinco de Mayo

 May 4th and May 5th (5pm – 11pm)

When you’re in San Diego, there’s always a massive party, but once Cinco de Mayo rolls around, it’s that much better. Known as one of the top party holidays of the year, CInco de Mayo is all about spending time with your friends, and hitting up the best bars in town. Notice how “bars” is plural? There’s absolutely no excuse for you to be spending your entire night in one bar for a special party holiday like this, so why not get your ticket to the highly anticipated Official Cinco de Mayo Pub Crawl of San Diego! PubCrawls.com are the #1 pub crawl producers in the world, and they’ve already produced some of the world’s largest pub crawls. To sign up, visit the site: http://pub-crawl-tickets.ticketleap.com/happy-hour-cinco-de-mayo-pub-crawl-san-diego/

 No matter how you decide to celebrate, have fun and be safe!

If we did, why not shout it from the rooftops? Ok, maybe that’s not the safest option…how about you just shout it out on Yelp.com?

Check out our Yelp Page and give us a review!

Why not stop by The San Elijo Elementary School Country Fair with your family for a day filled with games, crafts, food and fun? We’ve sponsored this year’s event and know it’s going to be a good ol’ time!

Here are the details:

Saturday, April 28th

10:00 am to 5:00 pm

San Elijo Elementary School – 1615 Schoolhouse Way, San Marcos 92078

Hope to see you there!

Although it was just a small one (only 3.9 on the richter scale) and centered near San Juan Capistrano, we did feel a bit of shaking here in San Diego. So with that said, if ‘the big one’ did hit today would you be ready…and would your home be  ready also?

Not so sure? Here are some tips on how to make your home earthquake safe:

1. Find out if your house is bolted to its foundation. If your house was built after 1935, chances are it is. If your home is older, you can have your house inspected and install bolts if necessary.

2. Make sure your chimney is soundly attached to the structure of your home. Collapsing chimneys are one extremely dangerous outcome of an earthquake. If your home was built before 1960, you may have to have it reinforced.

3. Have shear walls installed if your home was built on a raised foundation. Older houses often have cripple walls in the crawlspace between the foundation and the floor. To earthquake proof your home, you’ll need shear plywood reinforcement.

4. Bolt down the water heater. This will help prevent gas leaks.

5. Equip all cabinets with child-proof latches. This includes kitchen cupboards and medicine cabinets. These latches are cheap, easy to install and keep the contents of your cabinets from flying during and earthquake.

6. Store the heaviest objects, along with hazardous materials, in floor-level cabinets.

7. Secure tall furniture and hanging picture frames to the wall. Bolts will keep heavy furniture against the wall, as will Velcro installed at the corners. Pictures will probably stay put if you use a security hanger to keep them in place.

8. Place your T.V. on a lower, sturdy stand. It shouldn’t be perched on anything too small.

9. Move beds out from under windows. Ideally, a bed should sit against the room’s inner wall, which is the most stable.

10. Put together an emergency kit and store it somewhere easy to retrieve in a hurry. Have your kit stocked with the following items:

• Flashlight
• Radio – battery operated
• Batteries
• Whistle
• Dust mask
• Pocket knife
• Emergency cash in small denominations
• Sturdy shoes, a change of clothes and a warm hat
• Local map
• Some water and food
• Permanent marker, paper and tape
• Photos of family members and pets for re-identification purposes
• List of emergency point-of -contact phone numbers
• List of allergies to any drug (especially antibiotics) or food
• Copy of health insurance and identification cards
• Extra prescription eye glasses, hearing aid or other vital personal items
• Prescription medications and first aid supplies
• Toothbrush and toothpaste
• Extra keys to your house and vehicle
• Any special-needs items for children, seniors or people with disabilities. Don’t forget to make a Go-bag for your pets.

Information taken from www.EHow.com

Rock Star Real Estate Agent, Jessica Hart, has joined The Houston Team & Associates!

Jessica has been hugely successful in representing buyers and sellers since she entered the real estate industry in 2006. 

We’re thrilled to have her as one of our associates and are excited to see her success continue!

Welcome Jessica!