Did you know that the City of Escondido has a first time homebuyer’s program where eligible homebuyers can get up to $25,000 towards the purchase of a home?

Wow! That’s really great, right? Just today, we received an email in our office where a local Escondido resident asked the following question:

“How can I go about getting qualified for the Escondido first time homebuyer’s program?”

Well, this gentleman already knows the answer to the question, but I am going to share it with you here.

In order to get qualified for the Escondido first time homebuyer’s program, you need to sit down with a local mortgage officer who has experience with this program. This means that the individual that you are working with must understand the qualifications for the program as well as the process for obtaining the city loan. The good news is that the mortgage lender takes care of all of the details for the program and works it out so that the loan you obtain with the mortgage lender (called your first mortgage) and the loan from the city (your second mortgage) are all taken care of by one individual.

The best part of this program is that repayment of the loan is deferred until you sell, transfer, refinance or no longer live in the property as your primary residence.

So, if you are interested in buying your first home in Escondido and want to take advantage of this program, please feel free to contact our office. We can “hook you up” with a local mortgage lender and help you get on your way to homeownership in Escondido.

Like Escondido? Want to see what properties have just come on the market? Check out these Escondido properties below (updated every two hours). And, if you see something that piques your interest, feel free to give us a call.

Showing properties 1 - 10 of 433. See more city of Escondido real estate.
(all data current as of 2/4/2012)

1. $1,425,876 : 10328 Highlands West Dr, Escondido
   
   5 beds, 4 full baths

   Home size: 5,756 sq ft

   Lot size: 1.85 ac

   Year built: 1982

   Parking spots: 7

   Days on market: 1

   Walk Score®: 9
2. $649,500 : 419 Camino Bailen, Escondido
   
   4 beds, 3 full, 1 part baths

   Home size: 2,817 sq ft

   Lot size: 9,500 sq ft

   Year built: 1994

   Days on market: 1
3. $599,888 : 136 Camino Del Postigo, Escondido
   
   3 beds, 2 full, 1 part baths

   Home size: 2,587 sq ft

   Lot size: 10,578 sq ft

   Year built: 2000

   Days on market: 1

   Walk Score®: 45
4. $465,000 : 9605 Sage Hill Wy, Escondido
   
   3 beds, 2 full baths

   Home size: 2,303 sq ft

   Year built: 1978

   Days on market: 1

   Walk Score®: 6
5. $399,900 : 600 Idaho Ave, Escondido
   
   3 beds, 2 full baths

   Home size: 2,091 sq ft

   Year built: 1969

   Parking spots: 6

   Days on market: 2

   Walk Score®: 25
6. $499,000 : 1129 Destree Rd. Rd, Escondido
   
   3 beds, 3 full baths

   Home size: 2,150 sq ft

   Year built: 1979

   Parking spots: 4

   Days on market: 2

   Walk Score®: 29
7. $379,000 : 1410 Kingston Dr, Escondido
   
   4 beds, 3 full baths

   Home size: 1,866 sq ft

   Lot size: 8,200 sq ft

   Year built: 1974

   Parking spots: 4

   Days on market: 2

   Walk Score®: 58
8. $459,900 : 1343 Blackhawk Gln, Escondido
   
   4 beds, 2 full, 1 part baths

   Home size: 2,180 sq ft

   Year built: 1990

   Days on market: 2

   Walk Score®: 38
9. $309,000 : 1755 South Iris Lane, Escondido
   
   3 beds, 2 full baths

   Home size: 1,780 sq ft

   Lot size: 17,424 sq ft

   Year built: 1974

   Days on market: 3

   Walk Score®: 65
10. $575,000 : 10332 Valley Pkwy W, Escondido
    
    3 beds, 1 full bath

    Home size: 1,230 sq ft

    Year built: 1924

    Parking spots: 50

    Days on market: 3

    Walk Score®: 3

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Unless you are living in a cave, you probably have already heard that interest rates are still at an all-time low. Believe it of not, if you purchase a home now, your mortgage payment might actually be lower than your rent. That being said, here are three tips that can help you if you are considering buying an Escondido home for sale:

1. Hire a Qualified Realtor®  In this unique and challenging real estate market, it is important to have a knowledgeable and experienced team on your side—people who are successful in today’s market and know the new challenges that this market brings to the table. Prepare a list of questions for any agent you might hire, and be sure to check references before hiring a buyer’s agent.
2. Get Pre-Qualified by a Lender  Unless you will be paying cash for your property, you will need to speak with a mortgage lender or loan officer before you begin your property search. This individual will work with you in order to figure out your home buying budget, and will also educate you on the loan programs that are available. Your lender pre-approval letter will need to be submitted with your offer to purchase a property.
3. Understand the Real Estate Market  There may have been a time when people could offer 50 cents on the dollar for each and every property on the market. There was also a time when properties were selling for thousands of dollars over the asking price. Before you being to look at properties and write offers, learn about the market. Look at reports that show what homes are selling for in your community of choice. Having this information at your disposal will help you may a more informed decision when purchasing a home in Escondido.

If you are ready to buy a home in Escondido, San Marcos and beyond, it is important to arm yourself with all of the tricks of the trade. That’s where the agents at Broadpoint Properties can help you. Feel free to contact us for all of your real estate needs.

Check out these Escondido homes for sale right now, or use the interactive search at the right to get started with your home search. And, if you see anything that piques your interest, please give us a call.

Showing properties 1 - 10 of 500+. See more city of Escondido real estate.
(all data current as of 2/4/2012)

1. $1,425,876 : 10328 Highlands West Dr, Escondido
   
   5 beds, 4 full baths

   Home size: 5,756 sq ft

   Lot size: 1.85 ac
2. $649,500 : 419 Camino Bailen, Escondido
   
   4 beds, 3 full, 1 part baths

   Home size: 2,817 sq ft

   Lot size: 9,500 sq ft
3. $599,888 : 136 Camino Del Postigo, Escondido
   
   3 beds, 2 full, 1 part baths

   Home size: 2,587 sq ft

   Lot size: 10,578 sq ft
4. $465,000 : 9605 Sage Hill Wy, Escondido
   
   3 beds, 2 full baths

   Home size: 2,303 sq ft
5. $399,900 : 600 Idaho Ave, Escondido
   
   3 beds, 2 full baths

   Home size: 2,091 sq ft
6. $499,000 : 1129 Destree Rd. Rd, Escondido
   
   3 beds, 3 full baths

   Home size: 2,150 sq ft
7. $379,000 : 1410 Kingston Dr, Escondido
   
   4 beds, 3 full baths

   Home size: 1,866 sq ft

   Lot size: 8,200 sq ft
8. $459,900 : 1343 Blackhawk Gln, Escondido
   
   4 beds, 2 full, 1 part baths

   Home size: 2,180 sq ft
9. $247,000 : 8975 Lawrence Welk Dr 369, Escondido
   
   3 beds, 2 full baths

   Home size: 1,976 sq ft
10. $309,000 : 1755 South Iris Lane, Escondido
    
    3 beds, 2 full baths

    Home size: 1,780 sq ft

    Lot size: 17,424 sq ft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

It’s not a bad idea to purchase a home this year, and it isn’t such a bad idea to check our homes for sale in Escondido and beyond during the holiday season. Traditionally, those who want to sell during the holiday season are generally very motivated and flexible when it comes to scheduling showing appointments. However, with all of the shopping temptations at this time of year, sometimes the purchases homebuyers make during the holiday season can have an impact on a homebuyer’s ability to obtain credit.

Renee Burrows, a Realtor® in the Las Vegas area, provides some wonderful advice for purchasing during the ‘shopping’ season—for all sorts of homebuyers, not just first time homebuyers.

You go through the process of looking for a home, get a contract accepted and have your inspections and appraisal done.

AND THEN YOU GO OUT & buy a car or blow up your credit card buying furniture, appliances and Christmas gifts.

Houston – we have a problem!!  It doesn’t matter if you purchase these items with cash or credit.  You want to speak with your trusted mortgage professional that is working on your loan before you spend ANY money before a real estate transaction closes!

Here are the reasons:

• Reserves:  you are required to have a certain amount of reserves for your home purchase.  If you spend those verified reserves BEFORE you close, you may no longer qualify for your mortgage.
• Debt to Income Ratio:  If you purchase items with credit (car, appliances, furniture, an insane amount of Christmas gifts) you could hurt your debt to income ratio.  Again, you may no longer qualify for your mortgage.

The moral of the story is:  PLAY IT SAFE if you are purchasing a home during the holiday season and always speak to your lender before spending money!

The agents at Broadpoint Properties wish you a happy holiday season and look forward to helping you with your home purchase—whether it occurs right now, or sometime in the future.

(photo credit)

(Renee’s article was originally posted at http://www.lasvegas-realestate-communities-homesforsale.com/2011/11/tis-the-season-to-blow-up-your-home-purchase-by-spending-too-much-money/ )

Just because that cash is burning a hole in your pocket and you want a screamin’ deal on a piece of real estate, doesn’t mean that the buyer is gonna accept your offer. Right now the real estate market is ripe with cash buyers, many who are looking for the deal of the century.

Homes listed at current market value (which is admittedly low right now in San Diego and Riverside County) are receiving cash offers for cents on the dollar. Often times, cash buyers feel that because of the very nature that the offer is cash (a.k.a. cash is king), the offer will be more favorably received than higher offers from buyers who are obtaining a loan.

Interestingly, when it comes to short sales and REOs (bank foreclosures), most of the lenders are looking to recoup the most money that they can—even if they have to wait for the deal to close.

Unfortunately, arguments such as “I can close in three days” do not have lots of weight, since it often takes a month to obtain a short sale approval or a few weeks to put together the necessary paperwork in order to close anyhow.

The common bank response to the cash buyer argument is that the bank is going to receive cash at the end of the day no matter what. And, that’s true. Once the buyer obtains the loan, the bank will receive the buyer’s cash. Yes, the bank had to wait. But, if you were going to get a full price offer, you would probably wait, too.

The amazing opportunity for cash buyers comes with properties for which loans cannot be obtained. That is, properties that require a fair amount of repairs and then, after rehab, can be resold for a profit. So, if your cash is burning a hole in your pocket and if you are looking for a smokin’ deal, contact one of the buyer specialists at Broadpoint Properties, and we can turn you onto a bunch of great properties that meet your specifications.

(photo credit)

Three Tips for Buying a Home in San Elijo Hills San Marcos

If you live in Escondido, San Marcos, Vista, Oceanside and just about anywhere in North San Diego County (and beyond) and you are considering buying a home, then you will definitely want to consider these three tips.

1. Get Pre-Qualified. Before you spend late nights on the Internet drooling over homes, you should work with a qualified lender in order to find out how much your can spend on your next home purchase. Once you and your lender have made that determination (or if you are paying cash), then drool to your heart’s content.
2. Work with a full-time, experienced professional team. A full-time agent with a team at his or her disposal can provide you with unlimited support in the purchase of your property. Working with experienced agents means great things for you. You get a savvy qualified Realtor® that knows how to navigate that unique and challenging real estate market.
3. Don’t get wrapped up in the moment. Be realistic about what you want and how much you want to spend. Try to avoid bidding wars on foreclosures because, at the end of the day, you may learn after an appraisal that you have possibly offered more than a property is worth. Write down your wants and needs—including the maximum amount you are willing to spend on your mortgage payment (don’t forget to include property taxes and HOA dues in your calculations.)

If you are interested in buying a home in San Elijo Hills, check out the available San Elijo Hills Homes for Sale below. If you see anything that piques your interest, don’t forget to contact our office.

Showing properties 1 - 10 of 41. See more San Elijo Hills tract real estate.
(all data current as of 2/4/2012)

1. $749,000 : 951 Wild Iris Ct, San Marcos
   
   5 beds, 4 full, 1 part baths

   Home size: 4,237 sq ft

   Year built: 2007

   Parking spots: 5

   Days on market: 1

   Walk Score®: 26
2. $559,990 : 1166 Festival Rd, San Marcos
   
   5 beds, 3 full baths

   Home size: 2,468 sq ft

   Lot size: 6,381 sq ft

   Year built: 2010

   Days on market: 1

   Walk Score®: 18
3. $549,000 : 1630 Windemere Dr, San Marcos
   
   4 beds, 4 full baths

   Home size: 3,017 sq ft

   Lot size: 5,700 sq ft

   Year built: 2003

   Parking spots: 4

   Days on market: 2

   Walk Score®: 42
4. $524,000 : 1405 Rivercrest Rd, San Marcos
   
   4 beds, 3 full baths

   Home size: 2,742 sq ft

   Year built: 2003

   Parking spots: 6

   Days on market: 10

   Walk Score®: 57
5. $235,000 : 1352 Dandelion Wy, San Marcos
   
   2 beds, 2 full, 1 part baths

   Home size: 1,401 sq ft

   Year built: 2005

   Parking spots: 2

   Days on market: 19

   Walk Score®: 29
6. $689,000 : 1486 Crystal Ct, San Marcos
   
   5 beds, 3 full, 1 part baths

   Home size: 3,140 sq ft

   Year built: 2002

   Days on market: 22

   Walk Score®: 48
7. $515,000 : 650 Atherton St, San Marcos
   
   4 beds, 3 full, 1 part baths

   Home size: 3,386 sq ft

   Year built: 2006

   Days on market: 22

   Walk Score®: 14
8. $359,990 : 1549 Chert Dr, San Marcos
   
   3 beds, 2 full, 1 part baths

   Home size: 1,459 sq ft

   Year built: 2011

   Days on market: 22
9. $485,000 : 886 Antilla Wy, San Marcos
   
   4 beds, 4 full, 1 part baths

   Home size: 3,560 sq ft

   Year built: 2005

   Days on market: 23

   Walk Score®: 12
10. $749,000 : 862 Genoa Wy, San Marcos
    
    4 beds, 3 full, 1 part baths

    Home size: 3,727 sq ft

    Year built: 2004

    Days on market: 29

    Walk Score®: 55

Listing information deemed reliable but not guaranteed. Read full disclaimer.

In the State of California, we use escrow companies (independent third parties) in order to manage all of the details, manage the financing, and prepare real estate documents relating to the recording of the transaction.

It is often difficult to understand what escrow is and why an escrow company is required, but the California Department of Real Estate is making it easier for home buyers and home sellers to comprehend all of the intricate components of the California Escrow Process.

Check out this new brochure: Surviving the Real Estate Escrow Process in California

If you are interested in getting into a new home and opening an escrow, check out all of these new homes on the market—organized by city:

Homes for Sale in Carlsbad

Homes for Sale in Encinitas

Homes for Sale in Escondido

Homes for Sale in Oceanside

Homes for Sale in San Marcos

Homes for Sale in Valley Center

Homes for Sale in Vista

If you are currently looking into buying a short sale in Valley Center or buying a short sale in Escondido, San Marcos or beyond, then you will definitely want to check out these two important tips for buying a Valley Center short sale.

Tip #1

Not every property that you see advertised on the Internet is still available for sale. Sometimes properties advertised on the Internet already have accepted offers. Additionally, there might be other issues with respect to the property that would impact buyer interest that are not obvious when viewing the property on the Internet. (For example, maybe the occupant is a tenant, and that tenant is not permitting any showings or maybe the kitchen has been demolished and is not being renovated before closing.)

Tip #2

Buyer’s agents must do their due diligence and investigate that background on the property before going to check out the property. How many liens are involved in the short sale? Is there a foreclosure auction scheduled? Is the listing agent actively involved and experienced with short sale negotiations? If an auction date is scheduled or if the agent has little experience with short sales, it may be extremely difficult to purchase this property—even in the best case. So, it is important to get into a situation where you are offering on properties.

As a homebuyer in Valley Center, Escondido and beyond, it is important to know your options and hire a qualified Realtor® who has the experience and know how to get the job done.

Photo: flickr creative commons by NovemberWolf