We all know that the housing market is not what it once was. However despite that fact, people are still making the decision to pack up and move somewhere else. If you are thinking about calling some new place home, here are a few things to keep in mind to assure that your move goes as smooth as possible.

The first, and probably the most important thing you should consider, is renting a San Diego self-storage unit. Despite what most people think, self-storage facilities are not just for people who have run out of room at home and need a permanent location to house their excess baggage. They are also an incredibly convenient way to move if you haven’t settled down yet. Temporary storage can be used to house a lifetime’s worth of belongings just long enough for you to conduct a thorough search for a new home.

The majority of self-storage facilities allow you to rent month to month, eliminating the need to rush or to find a contract that fits your short-term needs. Here are a few tips on finding the right storage company for you.

• If you have an idea of the general area or neighborhood that you want to live in, find a local self-storage facility to make your move less of a hassle.
• Weigh your options of cost versus convenience. The cheapest self-storage facility might not be located anywhere near where you intend to live, so you could end up paying more per month for convenience. But if moving out of your rental space will require more than one trip, consider paying more for a closer facility.
• Urban dwellers may also feel more confident about storage facilities with high-tech security, as well as gated and alarm-activated storage units.
• Pack your unit carefully. Put non-essential items like furniture in the back, and leave items such as clothing where they can be easily reached. You might be living out of your temporary storage space for a while and you’ll want to be able to get to certain things easily.

Just because you need temporary storage to house your belongings while you look for a permanent place to live does not mean you should feel obligated to do everything yourself. Not everyone that uses a self-storage facility gets their belongings there on their own accord. Here are a few of your other options for this process.

• Have a professional moving company deliver your belongings to a pre-arranged self-storage unit. If you’re moving a fair distance, this will require that you get a good idea of exactly how much temporary storage space you’ll need. And if you have to overshoot, do so. It’s far better to have too much room than too little room.
• If you’re not moving far, look for moving storage companies that offer both movers and storage facilities. Not every self-storage company has a staff of movers and trucks at the ready, but there are some that combine services, which can significantly lessen the hassle of moving.

Renting from one of these facilities can seriously reduce the chaos that can be associated with the relocating process. Take these tips to heart and make sure that your next move is as hassle free as possible.

This article was provided by SpareFoot, the largest online marketplace for self-storage that offers consumers the most complete comparison shopping experience in the storage industry.

Is now a good time to buy La Jolla real estate?

There has definitely been a change in the housing market this first quarter.  The article included explains some of these changes that support buyers purchasing La Jolla real estate. Whether its your primary or vacation home now is a good time for buying La Jolla real estate.

“Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers.”

http://www.cnbc.com/id/47054070

Lots of sellers are now receiving multiple offers.  If you have been sitting on the fence, inventory is extremely low and it would be a great time to sell.

Information and article provided by: Chrissie Carr and cnbc.com

Whether you are considering first home, a larger home for a growing family, moving into your dream home or perhaps buying a second home or rental property, two key economic factors, mortgage rates and home prices, have lined up in your favor for purchasing La Jolla real estate. Let’s take a look at how morgage rates and home prices are working together to give you extremely potent buying power for La Jolla real estate and why you should take action now before these favorable conditions to purchase La Jolla real estate change.

Irresistible Interest Rates
When you read in the newspapers that rates are at historic lows, this is not an exaggeration. Interest rates on home loans truly are at the lowest they have been in decades. The reason for this is that due to the recent “Great Recession,” the Fed has had to lower the federal funds rate to between 0 percent and 0.25 percent. The federal funds rate is the interest rate at which savings banks, commercial banks, savings and loan associations and credit unions trade balances with each other.

The federal funds rate impacts all other rates, including mortgage loans, so, at times of slow or no economic growth, the Federal Reserve will lower the federal funds rate in hopes of making credit cheaper to all people and in turn boosting the economy. This is why home mortgage rates have remained so low. The moment the economy starts to truly grow, the Federal Reserve will start to increase the federal funds rate, and home financing loan rates will follow suit.

Right now, mortgage rates are incredibly attractive after a downward slide over the course of 2011 that ended with 30-year fixed-rate mortgages in the 3.9 percent interest rate range. So far, in 2012, rates have topped the 4 percent mark, according to surveys from the Mortgage Bankers Association, but these are still historic lows.

Will rates stay like that? Well, factors such as increases in retails sales and improvements in unemployment are pointing to a recovery. After a spike to 10 percent in October 2009, unemployment rates have been on a solid downward trend since September 2011, and have been hovering at 8.3 percent.

Certainly, qualifying for loans is harder these days. More rigorous documentation is required, and down payment requirements and other lending terms aren’t as loose as they were during the 2005-2006 real estate boom, but if you are in solid financial shape, you needn’t worry. I’d be happy to sit down with you and look at what loans make the most sense for your financial position, and to work out different scenarios using today’s low rates, as well as rates after possible increases in the near future.

Home Prices
In terms of home prices, now has never been a better time to buy. After spending months at stratospheric highs during the real estate boom, homes that had doubled in price by 2006 are still below their pre-bubble values.

If anything, home prices are still in retreat. Using data from the National Association of REALTORS®, the median cost of existing single-family homes ended 2011 nearly at the same price it began the year, $158,000. And that price tag is down from 2010 and 2009.

That said, inventory might be starting to slip, which could see prices go higher. In recent months, housing inventory has been hovering around a six-month supply (at current sales rates), with roughly 2.4 million homes for sale. That might look like a lot, but it is nearly 20 percent below what it was a year ago.

Using simple supply-and-demand, it’s not hard to see that with declining inventory, today’s low prices could go up in the not-too-distant future. This is just as true for today’s rock-bottom interest rates, so it’s not hard to see why savvy homebuyers are responding to the bargains. All-cash purchases of existing homes are accounting for roughly 30 percent of transactions, and investors are accounting for more than 20 percent of purchases. The investors know a good deal when they see one, and today’s lending and real estate environment represents an amazing bargain indeed.

Make Your Move
The numbers don’t lie. You will most likely never see a better buying opportunity than now. If you are considering a purchase of a larger home to accommodate a growing family, the dream home you’ve always wanted, an investment property or any other home purchase, take the time to review the numbers. Mortgage rates and home prices have created a spectacular buyer’s market.

Information provided by: Charlie Clements, Loan Officer, W.J. Bradley Mortgage

Mark your calendars! La Jolla offers a variety of entertainment for buyers looking to purchase a home in La Jolla. This month: La Jolla’s distinguished speaker Scott H. Silverman “CNN Hero of the Week“, Jazz concert and Windensea wine tasting and VIP passes to a home-game. La Jolla events are a great way for buyers looking for a La Jolla home to meet people in the community. Click Things To Do In La Jolla for details.

Dane Soderberg | VP – Broker Associate
www.ljplatinum.com | www.psplatinum.com | dane@psplatinum.com
C: 858.337.1417 | F: 858.481.5134
1298 Prospect Place Suite 1W, La Jolla, CA 92037

Whether you are considering a first home, a larger home for a growing family, moving into your dream home or perhaps buying a second home or rental property, two key economic factors, mortgage rates and home prices, have lined up in your favor. Let’s take a look at how they are working together to give you extremely potent buying power and why you should take action now before these favorable conditions change.

Irresistible Interest Rates
When you read in the newspapers that rates are at historic lows, this is not an exaggeration. Interest rates on home loans truly are at the lowest they have been in decades. The reason for this is that due to the recent “Great Recession,” the Fed has had to lower the federal funds rate to between 0 percent and 0.25 percent. The federal funds rate is the interest rate at which savings banks, commercial banks, savings and loan associations and credit unions trade balances with each other.

The federal funds rate impacts all other rates, including mortgage loans, so, at times of slow or no economic growth, the Federal Reserve will lower the federal funds rate in hopes of making credit cheaper to all people and in turn boosting the economy. This is why home mortgage rates have remained so low. The moment the economy starts to truly grow, the Federal Reserve will start to increase the federal funds rate, and home financing loan rates will follow suit.

Right now, mortgage rates are incredibly attractive after a downward slide over the course of 2011 that ended with 30-year fixed-rate mortgages in the 3.9 percent interest rate range. So far, in 2012, rates have topped the 4 percent mark, according to surveys from the Mortgage Bankers Association, but these are still historic lows.

Will rates stay like that? Well, factors such as increases in retails sales and improvements in unemployment are pointing to a recovery. After a spike to 10 percent in October 2009, unemployment rates have been on a solid downward trend since September 2011, and have been hovering at 8.3 percent.

Certainly, qualifying for loans is harder these days. More rigorous documentation is required, and down payment requirements and other lending terms aren’t as loose as they were during the 2005-2006 real estate boom, but if you are in solid financial shape, you needn’t worry. I’d be happy to sit down with you and look at what loans make the most sense for your financial position, and to work out different scenarios using today’s low rates, as well as rates after possible increases in the near future.

Home Prices
In terms of home prices, now has never been a better time to buy. After spending months at stratospheric highs during the real estate boom, homes that had doubled in price by 2006 are still below their pre-bubble values.

If anything, home prices are still in retreat. Using data from the National Association of REALTORS®, the median cost of existing single-family homes ended 2011 nearly at the same price it began the year, $158,000. And that price tag is down from 2010 and 2009.

That said, inventory might be starting to slip, which could see prices go higher. In recent months, housing inventory has been hovering around a six-month supply (at current sales rates), with roughly 2.4 million homes for sale. That might look like a lot, but it is nearly 20 percent below what it was a year ago.

Using simple supply-and-demand, it’s not hard to see that with declining inventory, today’s low prices could go up in the not-too-distant future. This is just as true for today’s rock-bottom interest rates, so it’s not hard to see why savvy homebuyers are responding to the bargains. All-cash purchases of existing homes are accounting for roughly 30 percent of transactions, and investors are accounting for more than 20 percent of purchases. The investors know a good deal when they see one, and today’s lending and real estate environment represents an amazing bargain indeed.

Make Your Move
The numbers don’t lie. You will most likely never see a better buying opportunity than now. If you are considering a purchase of a larger home to accommodate a growing family, the dream home you’ve always wanted, an investment property or any other home purchase, take the time to review the numbers. Mortgage rates and home prices have created a spectacular buyer’s market.

But remember, it won’t stay this way forever. An improving economy could foster higher rates, and declining inventory could see prices go up. If you are on the fence about a real estate decision, don’t be. Now is the time to make your move. Please contact me using the information provided on this newsletter and I’d be happy to help you develop a strategy to take advantage of this historic opportunity.

1. Pick the Best Bulb
There are more energy-efficient light bulbs to choose from than ever. Start by migrating to more efficient bulbs as your old ones burn out. Newer bulbs can outlast traditional ones by up to 10 times and can save you up to 75 percent in lighting costs. However, you really need to know which kind of bulb is best for the various fixtures throughout your home. For example, Compact Fluorescent Light bulbs (CFLs) shouldn’t be used in a dimmable or 3-way fixture unless it is specifically designed for that use. Choosing the wrong bulb will drastically shorten its lifespan and ultimately waste your money.

2. Turn It Off
You always heard it growing up—“Turn off the lights when you leave the room.” This is clearly an easy way to lower your energy costs but it’s not always true. If you are using fluorescent bulbs and only plan to leave the room for a few minutes, it’s best to leave the lights on. Frequent on/off cycling can reduce the lifespan of fluorescent bulbs.

3. Use a Timer
Sometimes there’s a need to leave the light on, but not continuously. In that case, opt for a timer and then you won’t have to remember to flick the switch— ever! Choose a mechanical timer over electronic or digital timers, which can shorten the lifespan of some CFL bulbs.

4. Turn the Lights Down Low
Putting dimmers on your lights not only lets you control the mood in any room, it can also save money and extend the life of the bulb. Just be sure the label states that the bulb is intended to be used with a dimmer.

5. Let Motion Sensors Do the Work
Finally, consider motion sensors. This way, lights come on when motion is detected and turn off when no activity is detected over a selected period of time. This is ideal for security lights outside but you can also install motion sensors indoors.
There are more ways than one to light your home for less. Whether you decide on different bulbs or other ways to conserve electricity, you will Do Your Part to use less energy and keep money in your wallet—without being left in the dark.

Article provided by Terri Bennett.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.
Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.
However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.
Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.
Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”
In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.
While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.
Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generate actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.

Dynamics of a Bottoming: A True Dawn?

With the outlook for supply improving, the next question is, “What about demand?” Although employment and job creation remain muted, broadly consumers have begun to deleverage and clean up their balance sheets, and with rates at 30-year lows, housing affordability is at multi-decade high. Further supporting demand are emerging dynamics in the rental markets. Specifically, after a five-year drought in multi-family housing construction, rents have begun to grow as many displaced by both the foreclosure mess and credit tightening have seen renting as the only option. Roughly 15% of the single-family housing stock is currently being occupied by renting as well—roughly 2.5 percentage points above average. The attractiveness of buying a real estate investment versus renting was also brought to light by a recent analysis by the Empirical Research Partners LLC. From its perspective, the current spread between the rental yield on homes and the after-tax cost of financing a real estate investment is actually positive for the first time in 45 years.

An excerpt supplied by Mark C. Stelling, CRPC®
Financial Advisor
Merrill Lynch Wealth Management
NMLS ID: 557878

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.
Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.
However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability.
Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.
Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”
In contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV.
While credit conditions may have loosened slightly, some potential homebuyers are still struggling with credit requirements. In fact, Capital Economics points out that in November 8 percent of contract cancellations were the result of a potential buyer not qualifying for a loan.
Additionally, Capital Economics says “any improvement in credit conditions won’t be significant enough to generation actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.