Open House this Sun, Oct 26 – Sorrento Valley

Open House! Sunday, October 26th from 2:00 to 5:30 pm at:

10915 Jasmine Crest Lane, San Diego, CA 92121 (click on address to view detailed flyer) – map it here 

$829,000 – $849,000

  • 140054996-7 140054996140054996-10140054996-184 BR (1 optional)
  • 3 BA
  • 2,893 sq.ft
  • Built in 1998
  • HOA $40/mo
  • Single-Family Home
This home has been lovingly maintained and upgraded by the original owners and features many unique details. Continue reading

The Importance of Asset Titling in Estate Planning

Asset titling is one of the most important — and often overlooked aspects of an estate plan. The manner in which an asset is titled determines how it can be disposed of during your lifetime and who receives it upon your death. 

Why is asset titling so important?

Continue reading

Invest Like a Woman

Who is better at investing – men or women? Power struggle

The data may surprise you. Academic studies show that women tend to trade, or buy or sell investments, less frequently than men, and as a result generate better investment returns. Continue reading

October Newsletter

In August the seasonally adjusted annual rate of home sales jumped to the highest pace since February 2007, as many buyers made the effort to lock in rates before they rise any further. While rates have ticked down due to the Federal Reserve’s announcement that it would not taper its unconventional asset purchases in September, rates are still likely to slowly rise through the end of the year. Prospective buyers should take advantage of what is still a historically high level of affordability in the housing market before it diminishes. With inventory remaining tight in markets across the country, potential home sellers are still well- positioned to take advantage of the many buyers looking for opportunities and 18 months of year-over-year price increases.

Interest Rates 

interest ratesInterest rates have moderated thanks to the Federal Reserve’s decision to continue its quantitative easing policies. 30-year fixed-rate mortgages are currently 4.32% with 15-year rates at 3.37% and 5-year adjustable rates at 2.63%. While the Fed’s policy announcement has helped rates in the near term, we should expect them to continue to increase as the overall economy improves.

Home Sales

home salesExisting home sales were up 1.7% from July , hitting the highest mark since February 2007. The current annual pace of 5.48 million home sales represents a 13.2% increase over the same month last year and represents the twenty-sixth consecutive month of year-over-year increases. The recent spike in the rate of home sales is likely tied to the rise in interest rates in previous months, which caused buyers concerned about rising rates to get off the sidelines and lock in.

Home Price home price

In August the median existing home price dipped slightly from the previous month to $212,100. Median price was down only 0.7% from July but was up 14.7% from last August. Home prices typically dip later in the year, so the current month- to- month trend is not concerning. However, the year-over-year rises in home prices bode well and will continue to help boost more homeowners out of negative equity positions.


inventoryThe number of homes available for sale in August increased slightly but was not enough to keep up with the jump in buyer activity. This brought months’ supply of inventory, which takes into account inventory levels and sales rates, down 3.9% from last month to a current supply of 4.9 months of inventory.

This Month in Real Estate

September 2013 Market Update

Printable Version:

September Newsletter 2013

The annual rate of home sales rose to the highest level since 2009 in July, the jump likely boosted by formerly reluctant buyers being pushed off the sidelines by the anticipation of rising mortgage rates. As speculation continues on the date and extent of the Federal Reserve’s reduction in its purchases of unconventional assets, mortgage rates have already begun to rise and are unlikely to return to the historic lows witnessed early in the year. With rates on the move, prospective buyers would do well to take advantage of low rates while home affordability remains at historically high levels. Prices moderated slightly in July from their peak in June, likely due to seasonal variation, but maintained high year-over-year growth rates. Sellers are still well-positioned in the national market with inventory still relatively tight in many areas.

Interest Rates interest-rates-sep-2013

Interest rates have moved up this month: 30-year fixed-rate mortgages are currently 4.58% with 15-year rates at 3.60% and 5-year adjustable rates at 3.21%. These are the highest rates we have seen in the last two years.

Home Sales


Total existing home sales in July were up 6.5% from June to a seasonally adjusted annual rate of 5.39 million homes. Year-over-year home sales were up 17.2% from the July 2012 rate of 4.6 million homes. The housing market recovery is still well under way with 25 consecutive months of year-over-year growth in home sales heading into this fall.

Home Price

The median existing home price in the United States in July was $213,500, down slightly from the previous month but up 13.7% from the same month last year. The median price level released by the National Association of Realtors is not seasonally adjusted and the small dip we experienced from June to July is consistent with those we have seen in the past. This is the seventeenth consecutive month of year-over-year price increases, which last occurred from January 2005 to May 2006.



A slight rise in inventory levels was evenly offset by the increase in the pace of home sales, causing the months of supply for existing homes to hold steady at 5.1 months. Total housing inventory rose by 5.6% in July to a level of 2.28 million homes. Inventory is 5% below levels reported for July of last year, which represented 6.3 months of supply at the time.

California Home Prices: A History


one cool thing ca home prices

How much Keller Williams raised $ at a Family Reunion for our Des Moines Family?

We are so proud of the incredible generosity you displayed during our Inspirational Brunch on Wednesday.

We were honored to share the story of the amazing associates in our Greater Des Moines market center. Ever since the market center opened, they have been struggling against a competitor with dominant market share who is paying only $1 of commissions on listings. These Keller Williams associates have been unfairly denied approximately $100,000 in commissions they rightfully earned for helping their clients move into the homes of their dreams. We challenged you – our Keller Williams family – to make our brothers and sisters whole.

And, WOW, did you ever respond! Within 60 seconds, you wrote checks and stuffed envelopes with donations totaling$107,684! We received pledges for an additional $36,200. (Darlins, you better pay up on those IOUs!)

All of these contributions are going to the KW Family Fund that Mary Tennant set up expressly for this purpose. We are committed to making our Greater Des Moines family whole – and we’re going to continue to help them until these unfair business practices end.

Keller Williams family, we need your continued support. While this is an amazing start, the situation is far from over. Our Greater Des Moines associates have a lot of pending transactions. And they’re doing all of this with no guarantee that they’ll ever get paid and with little reason to believe that our competitor will see the light. (Actually, there is some reason to be optimistic: Our market center brought more that 60 people to Family Reunion – pretty amazing considering they only have 58 associates!)

Today, we are encouraging each of you to donate 50 cents of every commission you earn to the KW Family Fund through the Greensheet. Of course, you don’t need to feel limited to 50 cents. You can give a dollar if you’d like … or $10 … or $100!

Please take the high road. Do not mention our competitor in your conversations or social media postings. The last thing they deserve for their shameful behavior is free publicity.

Keller Williams family, your actions truly show commitment in all things. Where in the world but KW could such an outpouring of generosity take place? It capped an historic Family Reunion and your response will be remembered forever. We not only announced that we’re the #1 real state company by agent count in the United States – but we showcased for the world the extraordinary culture that got us to this point and the passion and determination that are going to power us forward. You stood up as a real family and covered the backs of our brothers and sisters in need.

Thank you for your generosity. Thank you for your commitment. And thank you for proving that we’re #1! We feel blessed to be part of your family.

With love and appreciation,

Tax break for underwater homeowners set to expire

The clock is ticking on a tax break that saves struggling homeowners from paying thousands of dollars to the IRS.

If the Mortgage Forgiveness Debt Relief Act of 2007 does not get extended by Congress by the end of the year, homeowners will have to start paying income taxes on the portion of their mortgage that is forgiven in a foreclosure, short sale or principal reduction.

Should the tax break expire, a large number of mortgage borrowers could be affected. More than 50,000 homeowners go through foreclosure each month.  

So if you owe $150,000 on your home and it sells for $100,000 in a foreclosure auction, the IRS could tax you on the remaining $50,000. For someone in the 25% tax bracket, that would mean paying $12,500 in taxes on the foreclosure. Similar taxes would apply for forgiven amounts in short sales and principal reductions.

“If there ever was a no-brainer in housing policy, this would be it,” said Jaret Seiberg, a policy analyst for Guggenheim Securities. Yet, Seiberg is skeptical the exemption will get extended. Now that the election is over, he thinks Congress will be heading into a “lame duck” session, with very little legislation moving forward through the end of the year.

Even if Congress allowed the exemption to expire, not all borrowers with forgiven mortgage debt will take a tax hit. If the debt is discharged in a bankruptcy, no tax is due. And anyone who is insolvent — meaning they have more debt than assets — at the time the debt was forgiven — would not have to pay the tax.

Also, in California certain borrowers are protected against paying the tax because of the way the state treats foreclosures.

In addition, the cost of the exemption could make it a point of contention. The office of Sen. Max Baucus, who heads the finance committee, estimated the cost of a one-year extension at $1.3 billion.

Source:  Les Christie @CNNMoney

Market Snapshot!

The inventory dropped an additional 150 homes in the past week. It was already a record last week, but now it sits at 4,728 homes. How far can the drop go? At this point, I am simply no saying as we are a market of extremes. The market is either ice cold or lava hot. Fewer sellers are going to be coming on the market, which is going to have (and is currently having) an impact on demand. Demand dropped by 100 and now sits at 3,318, but potential demand is much higher. Typically demand softens, but so many buyers have been lost out on homes, that there is still plenty of interest. The real problem is nothing to sell them.