The Real View

We have had some wealthy foreign clients who have chosen to retire in the coastal climes of San Diego. They love the balmy weather, year-round golf and tennis, and the beauty of Southern California.

These clients are wonderful additions to our communities. They pay hefty property taxes, shop freely, and put little strain on city infrastructures and school systems.  

The only interruption to their perfect retirement is the need to periodically leave the US, so their visas can remain valid.

A Retirement Visa solution has been floating around the government for years, but has gone nowhere. And even though this seems to have more to do with immigration issues than real estate, it is an issue we should all support. 

Make your voice heard!

Write to: 

http://www.house.gov/writerep/

Search San Diego Real Estate and MLS 

Luxury Homes and Estates 

Short sales and foreclosures are becoming commonplace throughout the country, and we are certainly seeing our share in the San Diego market.

The gloomy real estate statistics provide fuel for the bubble bloggers, who depend on these numbers to spin their stories and theories of conspiracies and doom. I doubt many of these mouthpieces are actually in the trenches dealing with the people and families who are having to endure the loss of their homes and dreams. The former owners of these lost homes are not the greedy flippers and short term investors targeted by the bubblers.

They could be your next door neighbor. 

Imagine the pain and shame of losing one's home. Imagine not only the stress of moving, but having to negotiate a lease with damaged credit.

Then, imagine the shock of and dismay of a former owner who receives a tax bill for the "forgiven debt" that occurred with the short sale. This "phantom tax" severely impacts those who are already operating under the strain of severe financial hardship. 

It is a tax that will hopefully be overturned by HR 1876, otherwise known as the mortgage cancellation act. Currently tied up in the House Ways and Means Committee, it might become "unstuck" with some conressional pressure.

Someone once said Democracy is not a spectator sport. Write your congressman/woman and urge emergency passage of this act.  

A copy of the proposed bill:

http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.1876: 

Active Rain's Tricia Schneider offers this link for action:

It is the least we can do for the least fortunate of our clients.                                                                                                                                                                       

Search San Diego MLS

Luxury Homes and Estates                                

And it's about time!

The Senate Finance Committee is  considering changes in the way 1031 real estate exchanges have typically been accomplished.

Under consideration is elimination of the 45-day identification of the replacement property, Under the proposed plan, 1031 exchangers would have a full 180 days to identify, purchase and close on the replacement property.

I am preparing to write a string of emails to our comgressman and senators about this issue and a couple of others.

I believe we have an obligation to speak out on behalf of our clients.

Yesterday, we received a troubled call from a young man who was way over his head in mortgage debt. He is between jobs, living with his parents, and has no savings to support a $1.2 million mortgage--on a home located more than 100 miles away.

It took time to ferret out the facts of this complicated story, and it only got worse with the client's telling.

John's Story:

1. John purchased the property with the aid of a silent partner earlier this year. He was told that his 780 FICO score would allow him to purchase a $1+ million home with no money. In fact, the partner promised to pay John $15,000 at close of escrow and further promised to make the first three mortgage payments ($21,000).

2. Remember, John had no savings. No problem. John was told that the mortgages (first and second) would breeze through underwriting because of a VOD (Verification of Deposit)--from somebody else's account. It would all be fine because moneybags would just temporarily add John's name to his account.

3. John said it all felt like a dream. He couldn't believe his good credit would buy this beautiful $1.2 million home. John was assured by his partner that it was a steal. The owners really didn't want to sell at such a low price. In fact, the home was probably worth $1.5 million.

4. John does not recall signing any documents (none) until he sat at the escrow company's closing table, nor did he ever write a check of any sort--not even an earnest money deposit. Inspections? There were none.

5. John finally signed documents at closing. He said it was a whirlwind. He whizzed through signing two or more inches of documents, guided by his partner and the escrow closing agent. The partner said since he would be managing the property, he would take and hold all the documents.

Our Research:

1. This home was value range listed for $800,000 to $900,000 last fall and failed to sell. A note in the listing said " bring all offers." Listing was subsequently cancelled.

2. Subject home was relisted by another broker at $1.15 in January. Confidential remarks noted that seller is a licensed real estate agent. Listing was cancelled again.

3. Shortly thereafter, John goes on title with $1.2 in recorded mortgage debt.

4. The partner leased out the property for bargain rent of $3000 per month. He has been collecting the rent and lives somewhere in Riverside County, according to the tenant (whom we met yesterday).  We put John and the tenant in touch with each other.

5. Today, with listing agreement and written permission from John to receive and convey information, we are contacting the escrow company to get copies of all signed documents related to this transaction--including the original contract. John wants to see if that signature is his own. 

We have listed the property for around $950,000, because that is a realistic price in today's market. It will be another short sale, which selling agents try to avoid because of all the hassle involved and the uncertainty of commission to be paid (lenders set commission, not the seller). And once again, it will be the second lien holder who get wiped out.

This is a transaction that stinks and I am angry. We have a young and frightened seller whom we want to protect, and a crew of slick professionals who knew how to game the system.

I can't help but wonder how much and how many profited from this fraud? 

More to follow.... 

(Names and exact prices have been changed to protect the client. Otherwise, I have permission to tell the story.)

San Diego Real Estate

Luxury Real Estate and Living

I have casually wondered in the past what the oldest domain names might be. Who were the first visionaries thinking about the importance of such "real estate?" I would have thought that at least one of the first 100 names would have something to do with real estate. Thanks to Jottings
for the find.

I would have expected to see, at the very least, Lenn Harley's Homefinders.com in this list--or perhaps something related to real estate:

Rank	Create date	Domain name
1.	15-Mar-1985	SYMBOLICS.COM
2.	24-Apr-1985	BBN.COM
3.	24-May-1985	THINK.COM
4.	11-Jul-1985	MCC.COM
5.	30-Sep-1985	DEC.COM
6.	07-Nov-1985	NORTHROP.COM
7.	09-Jan-1986	XEROX.COM
8.	17-Jan-1986	SRI.COM
9.	03-Mar-1986	HP.COM
10.	05-Mar-1986	BELLCORE.COM
11=	19-Mar-1986	IBM.COM
11=	19-Mar-1986	SUN.COM
13=	25-Mar-1986	INTEL.COM
13=	25-Mar-1986	TI.COM
15.	25-Apr-1986	ATT.COM
16=	08-May-1986	GMR.COM
16=	08-May-1986	TEK.COM
18=	10-Jul-1986	FMC.COM
18=	10-Jul-1986	UB.COM
20=	05-Aug-1986	BELL-ATL.COM
20=	05-Aug-1986	GE.COM
20=	05-Aug-1986	GREBYN.COM
20=	05-Aug-1986	ISC.COM
20=	05-Aug-1986	NSC.COM
20=	05-Aug-1986	STARGATE.COM
26.	02-Sep-1986	BOEING.COM
27.	18-Sep-1986	ITCORP.COM
28.	29-Sep-1986	SIEMENS.COM
29.	18-Oct-1986	PYRAMID.COM
30=	27-Oct-1986	ALPHACDC.COM
30=	27-Oct-1986	BDM.COM
30=	27-Oct-1986	FLUKE.COM
30=	27-Oct-1986	INMET.COM
30=	27-Oct-1986	KESMAI.COM
30=	27-Oct-1986	MENTOR.COM
30=	27-Oct-1986	NEC.COM
30=	27-Oct-1986	RAY.COM
30=	27-Oct-1986	ROSEMOUNT.COM
30=	27-Oct-1986	VORTEX.COM
40=	05-Nov-1986	ALCOA.COM
40=	05-Nov-1986	GTE.COM
42=	17-Nov-1986	ADOBE.COM
42=	17-Nov-1986	AMD.COM
42=	17-Nov-1986	DAS.COM
42=	17-Nov-1986	DATA-IO.COM
42=	17-Nov-1986	OCTOPUS.COM
42=	17-Nov-1986	PORTAL.COM
42=	17-Nov-1986	TELTONE.COM
42=	11-Dec-1986	3COM.COM
50=	11-Dec-1986	AMDAHL.COM
50=	11-Dec-1986	CCUR.COM
50=	11-Dec-1986	CI.COM
50=	11-Dec-1986	CONVERGENT.COM
50=	11-Dec-1986	DG.COM
50=	11-Dec-1986	PEREGRINE.COM
50=	11-Dec-1986	QUAD.COM
50=	11-Dec-1986	SQ.COM
50=	11-Dec-1986	TANDY.COM
50=	11-Dec-1986	TTI.COM
50=	11-Dec-1986	UNISYS.COM
61=	19-Jan-1987	CGI.COM
61=	19-Jan-1987	CTS.COM
61=	19-Jan-1987	SPDCC.COM
64.	19-Feb-1987	APPLE.COM
65=	04-Mar-1987	NMA.COM
65=	04-Mar-1987	PRIME.COM
67.	04-Apr-1987	PHILIPS.COM
68=	23-Apr-1987	DATACUBE.COM
68=	23-Apr-1987	KAI.COM
68=	23-Apr-1987	TIC.COM
68=	23-Apr-1987	VINE.COM
72.	30-Apr-1987	NCR.COM
73=	14-May-1987	CISCO.COM
73=	14-May-1987	RDL.COM
75.	20-May-1987	SLB.COM
76=	27-May-1987	PARCPLACE.COM
76=	27-May-1987	UTC.COM
78.	26-Jun-1987	IDE.COM
79.	09-Jul-1987	TRW.COM
80.	13-Jul-1987	UNIPRESS.COM
81=	27-Jul-1987	DUPONT.COM
81=	27-Jul-1987	LOCKHEED.COM
83.	28-Jul-1987	ROSETTA.COM
84.	18-Aug-1987	TOAD.COM
85.	31-Aug-1987	QUICK.COM
86=	03-Sep-1987	ALLIED.COM
86=	03-Sep-1987	DSC.COM
86=	03-Sep-1987	SCO.COM
89=	22-Sep-1987	GENE.COM
89=	22-Sep-1987	KCCS.COM
89=	22-Sep-1987	SPECTRA.COM
89=	22-Sep-1987	WLK.COM
93.	30-Sep-1987	MENTAT.COM
94.	14-Oct-1987	WYSE.COM
95.	02-Nov-1987	CFG.COM
96.	09-Nov-1987	MARBLE.COM
97=	16-Nov-1987	CAYMAN.COM
97=	16-Nov-1987	ENTITY.COM
99.	24-Nov-1987	KSR.COM
100.	30-Nov-1987	NYNEXST.COM

It was just ten months ago that I received an email from Maureen McCabe with an invitation to join something called Active Rain.

Several days later, I logged in, signed up and discovered that I had the opportunity to earn points just for writing about myself--and those things related to real estate.

Since that time, I've made friends with fellow real estate bloggers and communicate with some on a regular basis. I have  also learned so much about real estate issues, Web 2.0 and technical tools that can improve the quality of my work.

I have learned that we all have more in common than we would ever have thought possible--and am humbled by those who know so much more than I, and who so kindly share their knowledge,

When life and business are raging, I may go several days without logging in. And when things calm down, this is one of the first places I come.

Thank you, Neal Bloom, for inviting me to join the ActiveRain Bronze Star Hall of Fame in return for reaching the 50,000 point milestone.

And thank you, Active Rain, for introducing me to my blogging voice. 

I'm sure thousands of others would echo that sentiment.

Early last spring, in an interesting discussion with Marc LaChance, I was introduced to off-the-grid homebuilding. Marc is an entrepreneur with a plan and the means to build homes where electrical, telephone, gas, water and sewer lines do not run. I saw some early plans for his homes, and was highly impressed with their beauty, functionality and earth-friendliness.

It  seems when one door opens in the mind, it leads to a series of others….

Last night while waiting at home for two sons to return from their day at sea and evening on the sand, I discovered this charming woodland cottage, built into and of the earth. Truly off-the-grid, this hand built cottage in Wales is made of sticks, stones, straw, mud and scrap wood, along with some recycled cast-offs.

And it didn’t exactly break the bank or back either.

Built with utmost respect for the environment, this unusual cottage cost less than $10,000 to build, and required around 1000 to 1500 man hours to construct—which equated to about four months. Built into a hillside for protection and low visual impact, this dwelling utilizes stones and mud for retaining walls and foundations and oak thinnings (spare wood) from local forests for framing.

The interior is a marvel, with its reciprocal and natural roof rafters, limestone walls (breathable and more earth-friendly than concrete), straw bales for insulation under the floors and in the construction of the walls and roof, a center skylight for natural lighting, and scrap wood for floors and fittings.

I have had a hard time pulling myself away from this project. The rounded walls, windows and doors certainly reflect out-of-the-box thinking and design, as do the undulating wooden ceilings. The ingenuity that went into making this a functional home also capture the imagination.

Solar panels provide energy for lighting, music and computers. I did not see them in the photos, but trust they are there because Moabi, the designer and a Portuguese photographer, lives there with his family that includes two small children.

Water is delivered by gravity to the home from a nearby spring, while roof water run-off is collected in a pond for gardening purposes.

For more information and photos, click here: 

Oceanside, CA is a great place to spend a weekend, a two-week vacation, or a lifetime. It offers a great coastal location, broad sandy beaches, relatively affordable homes, condos and townhomes, and lots of activities for all ages.

First-time visitors to Oceanside marvel at the downtown building and activity. High rise condominiums, such as the newly-constructed Oceanside Terraces, are reshaping the  skyline, while the historic Oceanside Pier continues to draw fishermen, sightseers or those out for a lengthy stroll.

For those seeking museums and missions, Oceanside has much to offer. The California Surf Museum at 223 North Coast Highway is a surfer's mecca. Not only do they have displays showing the evolution of surfing, they also have a large display of surfboards, ranging from single-fin woodies to contemporary four-finned and lightweight fiberglass models.

If one is interested in the visual arts, there is the Oceanside Museum of Art, located at 704 Pier View Way. In addition to their eye-opening and provocative art displays, the museum also hosts the OMA School of Art, offering instruction in a variety of media, including painting, pottery and ceramic sculpture, along with drawing and drumming. The Oceanside Museum is housed in the classic Irving Gill designed building that preserves the 1930's flavor of Southern California.

Oceanside's Mission San Luis Rey de Francia is California's King of Missions. Founded in 1798 and located just four miles east of downtown Oceanside, this early and largest California mission is still a hub of Catholic Church activities and events. Visitors are kindly invited to stroll through the Mission Church and the surrounding gardens and grounds.

The Oceanside Farmer's Market is always a treat. It is held each Thursday between 9 a.m. and 1 p.m. on Pier View Way between Coast Highway and Ditmar Street. Here locals and visitors can find just-picked and local fruits and vegetables, fresh fish, fragrant and steaming hot tamales, bouquets of local flowers, and other dining surprises.  Bring an appetite!

Restaurants are plentiful in downtown Oceanside, and range from seafood spots by the Oceanside Harbor, to Cuban, Japanese, Mexican, French and California Nouveau cuisine.  For a taste of history (not yesterday's fare ), you might want to stop for a cup of coffee  or more at the 101 Cafe, located at 631 S. Coast Highway. This roadside cafe has been around since 1928 and offers visitors glimpses of what life was once like in this scenic California beach town.

Real estate opportunities and beach area real estate is plentiful in the downtown area of Oceanside, The North Coast Village, which borders the Oceanside Harbor, is Oceanside's largest condominium development on the sand.

Fortunate owners and guests at North Coast Village enjoy beautiful tropical gardens, many waterfalls, pools, spas, guarded and gated security, underground parking and an incomparable presence on Oceanside's wide and sandy beach.

Oceanside home buyers will also find row homes, high rise, lofts and single family detached homes in and near downtown Oceanside. At the far south end of town is the ultra-exclusive Saint Malo Village, with its guarded gate, private beach area and a lovely collection of period Tudor homes.

Oceanside? It's a town worth exploring and enjoying!

Also explore:

Oceanside Real Estate and Homes

Luxury Homes and Real Estate

Imagine carefree, luxurious living in San Diego with white sandy beaches, heart-stopping views of the ocean,bay and downtown San Diego, with the world famous Hotel del Coronado next door. 

The only place you could possibly be would be one of the Coronado Shores buildings.

Adjacent to and south of the magnificent Hotel del Coronado, stand the Coronado Shores, an oceanfront enclave of ten 15-story high rise condominium buildings.

Each building is run by its own association, and has its own common areas, fees and recreation facilities. Built in the 1960's and 1970's, the Shores are highly desired because of the astounding views they offer as well as their exquisite location at one of the finest beaches in the world.

Each Shore Tower has its own personality and name:

La Sierra
Las Flores
El Camino
La Playa
La Perla
El Mirador
La Princesa
Cabrillo
El Encanto
Las Palmas

Prices for condominiums at the Coronado Shores will vary depending upon size, views and amenities. They generally start at around $625,000 for a studio and go all the way up to $4+ million for a 1700+ square foot ocean view corner unit.

Homeowner Association fees for the Coronado Shores will depend upon the building and its association, but will generally include cable/TV services, common area maintenance, exterior building maintenance, security, hot water, insurance, sewer, trash pick up , water and gated grounds.

San Diego Luxury Real Estate

Luxury Beachfront Homes

Will you be at Real Estate Connect? Speak out!

I know a number of Active Rainers are planning to be in San Francisco for the big Real Estate Connect event July 31-August 3. There is supposed to be a Beer Blogger's event on the evening of July 31 and whether one imbibes or not, it would be fun for us to all get together.

I just discovered last night that Sharon Simms from Florida would be there, and began to wonder who else is planning to attend.

 To date, these are the Active Rain folk I know will be there:

Matt Heaton (Presenter)

Jonathan Washburn (Presenter)

Brian Brady (moderator)

Dustin Luther (panelist)

Gena Riede

Laurie Manny

Sharon Simms 

Teresa Boardman (panelist)

Jim Cronin (panelist)

Mary McKnight(panelist)

Ardell DellaLoggia (panelist)

Rudolph Bachraty (panelist) 

Joseph Ferrara (panelist)

Pat Kitano (panelist)

Greg Swann (steering committee)

Frances Flynn Thorsen (steering committee)

Noah Rosenblatt (steering committee)

Marlow Harris (steering committee)

Deepest apologies for the names I have missed. Speak up!

That is the reason for this post: To find out who is coming.

 I'll be there and look forward to finally meeting some of our fellow bloggers!

For additional information, visit the RE Connect site.