1) More Money Down

2) Stay For a Decade

3) Prepare For Competition

Without a house to sell, first-time buyers have had a field day in the depressed housing market.  Until recently, anyway.  A series of new rules, regulations, and policies have changed the landscape, making buying that new home harder and more expensive. Read Full Story At SmartMoney

First-Time Homebuyer Tax Credit Extended for Veterans
If you or your spouse is a member of the armed forces and has recently served active duty outside of the US for at least 90 days between January 1, 2009 and April 30, 2010, you could still qualify for a first-time homebuyer tax credit of up to $8,000. Furthermore, if you receive a VA loan, you may be eligible for more savings.

	VA loans are available to active military personnel, veterans, and spouses. They do not require a down payment, interest rates are cheaper than other home loans, and do not require mortgage protection insurance.
	Tax credit qualifications include: - Your income cannot exceed $125,000 if you are single.* - Your combined income cannot exceed $225,000 if you are married.* - A purchase agreement must be signed by April 30, 2011. - The home purchased cannot exceed $800,000. *If your income exceeds these levels, you may be eligible for a partial tax credit.
	For more details, please visit: www.militaryunited.com.

]]> http://www.lundreo.com/2011/03/04/first-time-homebuyer-tax-credit-extended-for-veterans/feed/ 0 http://www.lundreo.com/2010/06/15/new-foreclosure-near-san-elijo-hills/ http://www.lundreo.com/2010/06/15/new-foreclosure-near-san-elijo-hills/#comments Tue, 15 Jun 2010 16:46:49 +0000 Brandon Soule http://www.lundreo.com/?p=656  

The Lund Team received this property to sell approximately two weeks ago and is not in the process of listing the property for sale. The home is not yet listed in the MLS.

Large single family home on the border of Carlsbad and Sal Elijo Hills in the newer development Old Creek Ranch. Nicely upgraded residence: granite counters, dark wood cabinetry, wood and tile flooring, tile bathroom counters, custom stair railing and recessed lighting. Rear yard is large with a built in fire pit.

5 Bedroom, 3 Bath, and Approx. 3,152 Sq. Ft.

For more information contact The Lund Team

Call: (760) 438-0800 or Email: REO@LundTeam.com

1314 Ward Place Escondido, CA 92026

5 Bedroom, 4 Bath, and approx. 3,309 square feet

For pricing and more information contact The Lund Team:

REO@lundteam.com or call (760) 438-0800

Awesome investment opportunity for an investor or anyone looking to purchase a steady income property:

1. 11.8% monthly return for cash buyers
2. Approximately $500 – $700 per month cash flow for credit buyer with 30% down

5 Bedrooms + 2 Optional, 3.5 Bath, and approx. 4,612 Square Feet

Large spacious executive style residence, custom marble flooring in the foyer, downstairs office, dining room with designer chandelier, dual staircase off entry and family room, bonus room with view balcony. Oversized gourmet kitchen: granite counters, stainless steel GE Monogram appliances, two sinks, dual ovens, and eat in bar. The large family room offers a built in entertainment center and custom stone fireplace and mantle. Master suite: separate retreat/study area, private balcony with ocean and golf course views. Master bath: Jacuzzi tub, marble enclosed shower, bronze fixtures, walk-in-closet and dual vanities. The inviting rear yard has mature landscape, covered patio, outdoor kitchen, and built in spa.

For pricing and more information contact The Lund Team:

REO@lundteam.com or call (760) 438-0800

About the community: Private gated community, separate residence club house,  junior sized Olympic pool, spa, and four tennis courts. From golf villas to turnkey custom homes, luxury and elegance carry the day at The Crosby. Inspired by the legendary Rancho Santa Fe architecture of Lillian Rice, residential designs at The Crosby embrace the casual elegance so long associated with the region.

17028 Blue Shadows Lane

2 Bedroom + 1 Optional Room, 3.5 Bath, and approx. 3,034 Sq. Ft.

Home site on golf course, Mediterranean / Santa Barbara style architecture, large rear yard, landscaped front and rear, spa, and interior courtyard.

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16908 Simple Melody Lane

4 Bedroom, 4 Bath, and approx. 3,121 Sq. Ft.

Detached villa, former model home, travertine and wood flooring , gourmet kitchen with upgraded appliances, executive style master suite, panoramic views, and much more.

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Contact the Lund Team for more information and pricing

REO@lundteam.com or call (760) 438-0800

*Update – HOA fees are set to drop from $225.00 monthly to $191.00 on February 1st, 2010.    ;)

With such low inventory, we expect prices to begin gradually increasing. Simple supply and demand for one of Carlsbad’s more desirable areas. With the recent completion of the Bressi Shopping Center, the upcoming Boys and Girls Club, numerous restaurants, Carlsbad schools and new Carlsbad park - all within walking distance.

** We have an upcoming property for sale – on Garden House Road – Street of the models across from Bressi community park and pool area. ** It is a 4+ bedroom home with an OVERSIZED yard! 

Please email Garrett@lundteam.com or call 760.438.0800 for a sneak peek before this one hits the market.

Bressi Ranch of Carlsbad

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WASHINGTON (MarketWatch) – Sales of U.S. existing homes plunged 16.7% in December to a seasonally adjusted annual rate of 5.45 million from 6.54 million in November as a popular tax credit was set to expire, a national real estate trade group estimated Monday. The 16.7% percentage decline from November to December was the largest on record, the National Association of Realtors reported. The decline was larger than the 11% drop to 5.80 million that was expected by economists surveyed by MarketWatch. Sales in December were up 15% compared with December 2008. The median sales price rose to $178,300 in December, up 1.5% compared with a year earlier. It’s the first year-over-year increase in prices since August 2007. Link To Article

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And Zell followed in the interview to predict a turnaround in the broader real estate market : “I think the direction of the real estate market will change in the first part of next year (2009)”.  (video below)

His contrarian prediction has since proven true.   

And Zell’s larger macro-concept of restricted supply articulates clearly the current real estate market in Carlsbad.  A restricted supply of Carlsbad housing halted the downward trend in pricing in 2009.  In 2008, Carlsbad had 12+ months of sellable homes.  Buyers had a number of choices and were demanding steep discounts off already lower prices.  But as fewer homes came onto the market in 2009.  Sellable inventory shrank to 2.5 months of supply.  Buyers would search for months and find the same few “dog” or undesirable properties.  More desirable homes in the $800’s and under had multiple parties willing to bid near full asking price to be the winning bid.  In mid-2009, the ‘bid’ to ‘asking-price’ went from a 96% average in 2008 to 99%.       

The final three months of the 2009 Carlsbad real estate saw an increase in sales and lower market time when compared to the previous year.    Over 206 homes went under contract and/or sold from October to December.   A 36% increase in sales when compared to the same period in 2008.  The average time to sell a home decreased from near 90 days down close to 60 days.  And even as buying activity is comparatively stronger than the previous year, prices have stayed relatively flat.  Conservative appraisals are keeping housing appreciation low and steady.  Buyers should not feel pressured to buy because of low rates or tax credits.  Buyers should take their time and focus on the area they want to live and find a home that fits all of their needs.   

But if you are waiting for prices to decrease further, it could be a long wait.

Housing bears are hoping for a double dip in housing prices.  This is predicated on the sudden release of large amounts of “shadow inventory” from banks and a sharp increase in mortgage rates.  Banks have shown that, although they do have an unknown number of homes sitting vacant and unsold, their intent is not to flood the market with their own property and compete with themselves.  And mortgage rates will rise when federal stimulus ends and the government withdraws from the secondary mortgage market.  But as of January 15^th 2010, the Federal Reserve plans continued stimulus until the broader economy shows clear signs of sustainability and recovery.  And with recovery comes confidence and income.  And according to Zell, since inventory is expected to remain restricted, buyers will reluctantly pay the higher cost associated with increased mortgage rates.