I've just read through some of the answers and what's missing in the responses is the COST of the tiny homes. In Encinitas and Leucadia, there are many "tiny homes"--modular--but the land lease costs run about $1600/month west of the 101....the homes may start at low prices ($60,000---actually some trailers are advertised for $29,000) but the monthly fee is way too high. Folks who are interested in tiny homes want to downsize to save $$$$. I've been looking for a couple of years and it's the land lease fee that always stops me.... more
a friend had a daughter renting there who had her unit AND ALL OTHERS IN THE SAME STRUCTURE rained in on when the contractor pulled the roof covering as part of the rehab. the rehab continues so anyone buying is advised to hire a few extra inspectors to include mold, and to carefully review all documentation to assure that the property is on track financially.
all bldg's will pay for the repairs on all others as this is the essence of a condo ownership style...everybody bleeds from every cut. doesn't matter which bldg is yours...you own an undivided interest in ALL common assets.... more
Your earnest money deposit is also known as a "good faith" deposit. In good faith, you are agreeing to purchase the home on the terms and conditions agreed upon. In the case of default, which is the scenario you may be setting up, there could very well be consequences. Entering into a purchase agreement should not be taken lightly. If you string the first seller along until you find something "better", you've just adversely affected his ability to move forward and wasted valuable marketing time for this seller. A good analogy would be to ask yourself, "what's wrong with making multiple marriage proposals?"... more
Renovare235, I have designed, built and currently live and own several manufactured homes in this area. Hilltop Trailer Park on Jason, The Wee Mobile Home Park on Diana and the Riviera on Vulcan. I've also been a manufactured home dealer and developer, general and manufactured home contractor and real estate broker for 30 years in North County.
Please give me a call before you buy in that park. I know of several others for sale with less space rent and much more privacy. I also know of a couple where you have your own driveway and parking place which is hard to come by in this area. My phone number is 760 815-6977 or you can email me at firstname.lastname@example.org. I'd be happy to show you around anytime.
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good for you for seeing the charm in an old beater...in a world of cookie cutter uniformity they add a nice element to a 'hood.
probate homes are an odd corner of our trade and can be killer deals if you have the patience to deal with the frequent curveballs that can arise in those files. on probate deals the market time is meaningless. there may be any number of reasons why it isn't selling and as many why it might be falling out of escrow, if it has fallen out.
the seller on a probate may be a battling group of heirs, an attorney that is busy, there may be title issues or a dozen other factors. you mention some condition issues and other attributes of the home that may make this unfinanceable. that kills the deal for most buyers. an agent with some experience will know what questions to ask of whom, or a good relationship with a few attorneys, can get the real reason in a few minutes. i am glad to offer some strategy tips for you if you click through to my contact info.... more
It is difficlut to find decent deals in coastal San Diego County. Prices for 2-4 units are still too high for me to recommend, especially with the deferred maintenance issue that most of these older properties have. As you go inland the prices seem to moderate and the number get a little better, but you have to consider what kind of area and tenants you are comfortable with.
One strategy that you might consider is cherry picking condos. Those prices seem to be softening quite a bit. In additional inventory at the low end of the market has significantly expanded and will probably continue to expand creating some downward price pressure.... more
Bill, short term rentals in the OPE School District are difficult to find. Most owners want a min. one year lease. I know, I live in the area, but don't dismay. Many of my clients have lived a short time in Archstone before purchasing. At least they are flexible on lease terms. Your best bet is craigslist.org.... more
I am wondering when you say prices have been dropping, do you mean you are seeing active list price reductions or actual sales prices dropping? I am seeing in many areas of the county that there are lots of price reductions in active listings including Encinitas. BUT, I don't know that I would expect to see significant price drops of sales prices in Encinitas. As a general rule, the coast is a pretty strong and stable market. Let's face it, Encinitas is beautiful and a great place to live.
I believe that many sellers are unrealistic about their asking price and so with no offers, they are dropping price and that is the trend you are seeing. This, I believe is partly the fault of listing agents who are saying what the seller wants to hear in terms of list price to get the listing. They list it for over market and the home sits until the price is reduced to what the market will bear.
I think another factor that is often overlooked when looking for a home is the affect of interest rate. Right now it is really low and just a .5% upward adjustment on a sizable loan is huge compared to a price drop of $10-20k on the sales price. Monthly payment has to be a consideration.
What price range are you looking in? There are deals to be had in places like Olivenhain depending on what you are looking for.
The truth is that close to the beach not over $300K is difficult. However, You can find homes further inland that meet your criteria. If you really need to be closer to the beach, I recommend looking into a condo/townhome, but remember that you will have to factor in HOA fees (usually between $200-$300) into the payment. You will definitely have to compromise to get the home you are looking for. Please contatct me if I can be of any assistance.
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Bill is right on both points and Dusty is right, you should get a broker or agent to represent you.
I am a local Broker and have had several Bank Owned listings in Encinitas. Most if not all banks will list the properties "AS IS". That does not mean that as the buyer you can not ask for termite or other repairs in your offer. From my experience, especially of the bank knows that there is termite damage, they will approve section 1 work to be completed at their cost. If youâ€™re not sure what section 1 work is, it is the presence of actual damage or infestation of termites or fungus. Section 2 is conditions conducive to termites or damage. A good example of section 2 conditions is dirt piled up next to a home touching wood siding.
Will making an offer with asking for a termite report be a weaker offer, it depends on many factors including the offering price and terms. I always discuss this with my clients when they are making an offer.
So now is my pitchâ€¦..
If you would like some more questions answered or more information or guidance, feel free to contact me anytime. There is also a really good completely free search tool for bank owned / foreclosures on my website. Unlike some of the ones that charge you $$ to get details, this one is free, giving you information including address, pictures and actual listing price and it also will only show you properties that are actually listed for sale in the MLS, not a bunch of properties with NODs filed
Stephan: Home pricing and offer strategies are critically important issues these days. It is important to not only look at prior comparable sales, but to look at other trends including days on market, pending sales, expired listings and so on. This short article about home pricing dangers might be of some assistance:... more