Listed for only $624,900 Silhouette Plan 2.  Here is your opportunity to buy a short sale listing in 4S Ranch without a long waiting period.  After approval the buyer for my listing at 17110 Silver Crest Drive decided it was the wrong home for them.  Their leaving is  good luck for you.  There are very few homes available in 4S Ranch.  This is 4 bedroom 3.5 bath home.    Here is a link to the listing 17110 Silver Crest Drive.  If you are interested in touring give me a call 858-603-2895.  The opportunity to buy without a long wait expires on Monday May 7th.    Take a quick tour

Inventory of homes for sale is down in 4s Ranch.  For the last 5 years the  real estate market has been quite a roll coaster ride.    The inventory in 4S Ranch has dropped 50% since December 2011.   The last time inventory was this low was July 2010.   And once again there is nothing for sale below $450,000.  As of this morning there were only 3 homes listed below $600,000.   We also have  the highest number of contingent sales since we started tracking them back in June 2009.   If you don’t remember contingent sales are short sale listings waiting for lender approval.   More homes should come on the market as we heading the spring time selling season.

You know the real estate market has changes when . . .

- the listing on the market for the last year is now pending

-  you’re showing a listing and 4 other agents are there with clients showing the same home

-  Sunday showings feel like a Broker’s caravan, all the agents are following each other around the neighborhood showing the same homes

-  the home is only available to see between 1 and 2pm.  There are so many buyers  you can’t  find parking for blocks

- your buyer makes an offer over the list price on a short sale listing only to find out 40 other buyers did the same thing

The market has changed!

Only 36 homes for sale in 4S Ranch.  Inventory is down.  There are only 22 resale homes and the other 14 homes are new homes from the builder.  As of  today there is nothing listed for sale under $450,000 in 4S Ranch.   Plus pending sales are up.  At the first of the month there were 23 pending sale this is up from 17 at the beginning of February.   There are also 24 contingent sale (short sales waiting for lender approval) as I indicated in January Short Sales are closing in 4S Ranch Buyers are feeling more confident about putting in offers on short sales.  I hear real estate experts saying 2012 might be known as the year of the short sale.  Currently there is good opportunity to get 3,000 to 4,000 square foot home at an excellent price.   There is a Bank Owned home in the SilverCrest development  a 3,400 square foot home listed for only $600,000.  In this market deals like that will be gone before you know it.

Yesterday I received an email from California West Community with information about Mission Ranch – The Estate at 4S Ranch.  There will be 25 homes each built on about a half-acre site.  The homes will range in size between  4,200 and 4,500 square feet.  The home prices will be in the $900,000′s.  They are going to start selling in April and you can register and get per-qualified now.  The Grand Opening for Mission Ranch – The Estates at 4S Ranch is scheduled for July.

Other news in 4S Ranch new home sales, Silhouette has only 7 homes remaining to be sold.

Sentinels in Del Sur only have 4 homes remaining.  The builder Davidson is offering a very nice promotion,  a trip for two to Italy with the purchase of a home.  Their home prices start in the high $700,000′s.

Speaking of Davidson Communities earlier this week I drove by the coming soon Miraval development in the 92130 zip code.    They are making progress.   There is still road construction at the intersection of the new homes but they should be finished soon.   They plan to open next week, March 3rd with prices in the mid $700,000′s

Notices of defaults jumped up in Carmel Valley.
Do your own search see the current inventory of  Bank Owned homes, Homes up for Auction and Pre-Foreclosures

Zip Code 92130

Zip Code 92128

Zip Code 92129

Zip Code 92127

This is a guest post by Glenda Meyer, AmeriFirst  Financial 619-246-5525

FHA is the best way to buy a home in San Diego County with a low down payment up to $697,500; however, most homebuyers don’t realize why.  Here are some top reasons home buyers with a low down payment should consider FHA.

IT’S NOT ONLY FOR FIRST TIME BUYERS – FHA loans are available for everyone.  There is no income requirement and the home can be anywhere.  The maximum FHA loan for San Diego county is $697,500.  FHA will only finance owner occupied homes and you must prove your income, but you can own another home or been a previous homeowner.  In fact, you are again a first time home buyer if you have not owned a home in the last 3 years. This includes foreclosures and short sales!

CAN ONLY BE USED MORE THAN ONCE – You can use FHA to purchase a home multiple times.  You can only have one loan at a time unless you have extenuating circumstances like a job transfer or major life event. Similar to VA Loans you can use your VA benefits as many times as you like.

YOU DON’T NEED THE 3.5% DOWN PAYMENT – FHA is the only loan program allowing the minimum down payment to be a gift from a relative of close friend.  The “donor” does not need to be on title or on the loan, they can simply gift you the down payment and closing costs.  This allows you to purchase a home with no money down.

COSIGNERS ARE ALLOWED – You can add numerous cosigners to your file allowing you to purchase a bigger home.  This is perfect for parents who want to purchase a home for their college student or family members pitching in to help a first time home buyer.

YOU CAN BUY AFTER A BK, SHORT SALE OR FORECLOSURE –  FHA has the most lenient guidelines available.  You can get an FHA loan approval in as little as 2 years for a bankruptcy and 3 years or less for a short sale or foreclosure.  Call to discuss your specific situation.

YOU CAN BUY A CONDO – Condos are very easy to purchase using FHA financing, as long as they are approved.  Here is the link to see what condos are available in your area FHA CONDOS SAN DIEGO COUNTY.  There are no additional fees or expenses and the rate is exactly the same as for a single family home.

If you want to buy a home in San Diego County with a low down payment, FHA is for you!  Please call the San Diego FHA Expert, Glenda Meyer, AmeriFirst Financial at 619.246.5525 to see how much you qualify for.  Ask about the 30 day guaranteed closing on all purchases in San Diego.

Homes are selling in Rancho Bernardo.   I was surprise to see pending sales were up in Rancho Bernardo when I checked the numbers on the first of the month.  I was so surprised I thought I better wait a week and recheck .  No pending sales are really up.  On the first of the month I showed 67 pending homes that was up from 40 the month before.  And when I doubled checked today the number of pending sales has jumped to 75.  At the broker’s tour meeting last week agents were talking about the increased traffic at open houses.

Here are the numbers for Single Family homes in Rancho Bernardo 92128 as of the first of February

• 119 Active Listings
• 24 Contingent Listings (Short Sales waiting for lender approval)
• 67 Pending Sale
• 179 Sold in the last six months.

Today there were 7 homes on MLS tour today in Rancho Bernardo zip codes 92127 and 92128.  There was something for everyone today.  Prices ranged from $475,000 for a fixer in Gatewood to $895,000 in The Greens.  Plus there were 2 homes in 4S Ranch a  short sale and one very nice traditional sale in the Chanteclair subdivision.

One of the homes on tour was a post foreclosure Fannie Mae owned home an REO.  Fannie Mae offers excellent financing on their REO homes.  The program is called Home Path.  The highlights of Home Path are Low down payment, flexible mortgage terms, no appraisal required, no mortgage insurance and you may qualify even if your credit is less than perfect.   The home is a town home in Bernardo Heights.  It is listed for $518,950 its a 4 bedroom 3 bath home with 1,993 square feet and a attached 2 car garage.  Plus it has a great  golf course view.  The home is located on Royal Birkdale Row.

[idx-listings linkid="224922" count="6" showlargerphotos="true"]

Take a quick tour now and stop by the Open House on Saturday Feb. 2 2 to 4 pm