January 23, 2023 – San Diego Market Summary

 

Thank you to ReportsOnHousing.com for The Market Update Report. If you would like to subscribe to their Market Update Report, click here. 

 

If you are a Buyer, Seller or Past Client and are interested in more Stats & Market Updates, please Contact Us for more info.

 

Your Easy Guide: 10 Simple Steps to Becoming a Home Owner

 

Are you ready to embark on the exciting journey of homeownership? Buying a home is a significant milestone, and understanding the steps involved can make the process smoother. Here’s a straightforward guide to the 10 steps of buying a home:

 

Step 1: Hiring a Realtor: A skilled real estate agent is your ally in the home-buying process. They have the expertise to guide you, negotiate on your behalf, and help you find the right property. Choose an agent who understands your needs and priorities.

Step 2: Connecting with a Loan Officer & Assess Your Finances: Determine your budget, calculate your monthly expenses, and evaluate your credit score. This step lays the foundation for a successful home-buying journey. Knowing how much you can afford is crucial. Work with a lender to get pre-approved for a mortgage. This not only helps you understand your budget better but also positions you as a serious buyer when you find your dream home.

Step 3: Have a Buyer Consultation & Search for Your Dream Home: Your realtor will help you gain clarity on what it is exactly you want in a home. This is especially important if you are buying with someone else like a spouse. Once you have exact clarity, then you can start exploring properties that align with your preferences and budget.

Step 5: Write an Offer & Negotiate Terms When you find the perfect home, work with your agent to make a competitive offer. Be prepared for negotiations with the seller. Your agent will help you navigate this process to secure the best deal.

Step 6: Offer Accepted! Escrow & Contingencies Begin: Congratulations on your new escrow! Opening escrow happens when there is a mutual agreement between two parties. Contingencies are the conditions that must be met for a real estate transaction to proceed smoothly. There are many contingencies that are taken care of by your Real Estate Agent & Their Team, but the ones that you will be most involved in are: The Inspection Contingency & The Financing Contingency.

Step 7: The Inspection Contingency & Financing Contingency (Including the Appraisal Contingency) : Before finalizing the deal, arrange for a home inspection. A professional inspection ensures there are no hidden issues with the property. Use the findings to negotiate repairs or adjustments with the seller if necessary.

This contingency protects the buyer in case they can’t secure a mortgage. If the buyer fails to obtain financing within a specified period, they can withdraw from the contract without losing their earnest money. All banks also require that there be an Appraisal conducted on the property. The buyer’s lender typically orders an appraisal to determine the property’s value. If the appraisal comes in lower than the agreed-upon purchase price, this contingency allows the buyer to renegotiate with the seller or exit the deal without financial penalty.

Step 8: Releasing ALL Contingencies & Earnest Money: By removing contingencies, the buyer is saying, “I am committed to buying the property, and I’m no longer reserving the right to back out based on these conditions.” Once contingencies are removed, the earnest money deposit (the initial deposit made by the buyer) may become non-refundable, indicating a higher level of commitment.

Step 9: Final Walkthrough & Close the Deal Final Walkthrough is a last-minute check to make sure the home is good to go before officially becoming the new owner. Things we will want to check during final walkthrough are: Condition, Repairs, Appliances, Utilities.

Closing day is the culmination of your efforts. Review and sign all necessary documents, pay closing costs, and receive the keys to your new home. Celebrate this exciting moment!

Step 10: Move In, Settle & Maintain Your Investment After closing, it’s time to move into your new home. Plan the logistics of the move, unpack, and settle into your new living space. Enjoy the fulfillment of your homeownership journey. Owning a home comes with responsibilities. Regular maintenance is key to preserving your investment. Stay proactive in caring for your property to ensure its long-term value.

 

Congratulations! You’ve successfully navigated the 10 steps to buying a home. Embrace the joys of homeownership and the sense of accomplishment that comes with making your dream home a reality.

 

Are you interested in Buying a Home and you don’t know where to start?! Call or text Anthony Manzon at 619-306-1792 or Contact Us and he will get you started on Step 1!

Our Founder Anthony Manzon has 10+ years in real estate and has sold over 500 houses. He understands the real estate market, the real estate process and the emotions that come with buying a home. He has had the pleasure of helping so many different types of buyers with different types of personalities. Some buyers are more hands off and would like him to just lead them through the process step by step while others would like to understand the entire process before getting starting. There is no right or wrong way, just whatever makes you feel more comfortable in this process!

Top 10 Reasons People Buy a Home

Buying a home is a significant decision… for most people it is their largest investment that they ever make! People have various reasons for making this investment. Here are ten top reasons why individuals choose to buy a home:

  1. Investment and Equity: Real estate often appreciates over time, allowing homeowners to build equity and potentially make a profit when selling or re-investing.
  2. Stability and Security: Homeownership provides a sense of stability and security, knowing that you have a permanent place to live and raise a family. You don’t have to worry about a landlord selling the property from underneath you. You don’t have to worry about an increase in rent every year.
  3. Personalization: Owning a home allows you to customize and decorate the space according to your preferences without restrictions from landlords or make significant improvements.
  4. Predictable Payments: Fixed-rate mortgages offer predictable monthly payments, making it easier for homeowners to budget over the long term compared to renting.
  5. Tax Benefits: Homeowners may benefit from tax deductions on mortgage interest and property taxes, potentially reducing their overall tax burden.
  6. Building Credit: Making timely mortgage payments can positively impact your credit score, contributing to a stronger financial profile.
  7. Long-Term Savings: Instead of paying rent with no return, homeownership is a form of forced savings, as mortgage payments contribute to building equity over time.
  8. Community and Social Connection: Owning a home often fosters a sense of community and belonging, as homeowners tend to stay in one place for a longer duration.
  9. Generational Wealth: Real estate can be a way to pass down wealth to future generations, providing financial security for your family.
  10. Independence: Homeownership gives you more control over your living space, allowing you to make decisions without the approval of a landlord.

It’s important to note that individual circumstances vary, and what may be a compelling reason for one person might not be as relevant for another. Before making such a significant decision, it’s advisable to consider your personal financial situation, lifestyle, and long-term goals.

 

Call Anthony at 619-306-1792 if you would like to talk about your goals of wanting to purchase a home.

The Creative Realtor in the Industry

When it comes to real estate, you wouldn’t think Bruno Mars would ever come into mind.

But when it comes to the creativity of Anthony Manzon and his love for Bruno Mars, there’s no way he wouldn’t pass on the opportunity to incorporate Bruno Mars in a Listing Video.

When I met these sellers I promised them we would truly make their house stand out and market it in a way no other realtor could!

My big challenge was creating a balanced video that features all the amazing aspects of this home and community, and not make this a parody video about me. I think with how we feature the upgrades, show the areas of the house we have accomplished my MISSION!

For those that know me, Bruno Mars is my absolute #1 favorite musician so it was a true honor to represent his music  and spin it in a way where it is relevant to what I do… and that is sell houses.

Call me crazy, when I first heard this song, all I could think about was being an agent at an Open house presenting the property!

And so with the help of Rock Synergies creative Video Director, Jeff Dillow, they’ve delivered one of real estates hottest video.

Check out how this direction in creative real estate marketing created a big buzz and a game changer in today’s real estate market.

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The Bruno Mars of Real Estate? | Escaya Team Manzon

Anthony Manzon is at it with his creativity to spin a new listing into a fun showcase for potential buyers.

If you haven’t already seen the newly listed property in Escaya, you can view the special video presentation Anthony created below.

This new property is a NEWLY constructed in beautiful Chula Vista. Built in 2019 with Upgrades totaling over $158,000!!

1062 Calle Pilares, Chula Vista, CA 91913

4 bedrooms
3 baths
2289 sqft
Price $785,000
Fully PAID OFF SOLAR panels.

Enjoy all the high end finishes which include a built in California room, whole home air quality system, water softener, ring doorbell with wired in security camera system, reverse osmosis system at the refrigerator and sink. Kitchen features, Quartz countertops, soft closed drawers, premium glass shower enclosure in the Master Bedroom, and fully upgraded appliances which includes a Samsung, refrigerator, Wifi Washer & Dryer in the dedicated laundry room and so much more.

This property is perfect for entertaining with a ton of privacy, full sized driveway and only one neighbor. Take in the beautiful sunlight and breeze that emits through the house with dual sliding glass patio doors leading to the California Room and low maintenance backyard that is fully landscaped with a luxury bbq island bar, synthetic grass in both the front and backyard. Open concept kitchen with an island that can seat up to 8 people. Floorpan features a first floor bedroom with walk-in closet and full bathroom adjacent to the room on the first floor.

The property is centrally located in Otay Ranch in one of Chula Vista’s newly built community of Escaya. This up and coming suburb in San Diego, is highly sought out for its family friendly environment that boasts country vibes with a city life amenities. The community includes everything you need in walking distance.

Live with luxury amenities of a clubhouse, wellness center, two heated community pools, indoor gym and yoga/exercise studio, 2 acre dog park, and with an upcoming 10 acre community park with 2 large play structures, basketball courts, picnic tables, North Island Credit Union amphitheater where concerts are held, and so much more.

Contact us to schedule a showing this weekend or attend our Virtual Open House!

Anthony Manzon
Coldwell Banker West
DRE#01938863

How’s the Real Estate Market in December?

San Diego is seeing a steady increase in house prices and sales. There’s still a lot of inventory and a lot of buyers. And even more a lot of money for people thinking of selling their homes to make.

We’ve snapshot the whole San Diego Market for you as well as one of our biggest market, Chula Vista.

If you’re looking at a certain market, feel free to contact us!

Our VIP Mini Pumpkin Patch Event

One of our favorite Team Manzon events to date!

As you know with covid, having client events was a challenge. Team Manzon will not let this obstacle stop us from showing our clients love!

What Did We Do?

We hosted a photo booth and a mini pumpkin patch event for our clients where each client would have a private 15-minute appointment with their families to pick out a pumpkin, a mini family photoshoot, and got some goody bags!

We had 22 families booked with 15-minute private appointments and it was a success. Everyone wore masks, temperatures were taken at the front, sanitizers and wipes were available for everyone, and we even did a health screening beforehand!

Masks only came off at the photoshoot. The photos came out amazing and I am loving all the big smiles! Here is a little recap of how it went!

Thank you to all our sponsors and partners for helping make this event so fun and memorable.

Grateful for all the people we’ve worked with and we want to always give back.

List Your Home ASAP with These Resources

Now is the time to take advantage of buyer demand if you have a home to sell. At the same time, making a super-quick sale may not be safe given the current climate. Fortunately, there are solutions.

You can learn more about listing your home in a snap with Team Manzon. Plus, consider these resources you may need to get moving on your property sale.

Prep Your Home in Advance

Part of listing your home is prepping it for polished photographs and in-person or virtual tours. Take these steps before letting your listing go live.

  • Start scrubbing: use the right cleaning products to nix germs and reduce risk.
  • Enlist pro help to clean your floors for even more appeal.
  • Declutter and stage your home to show off its best attributes.
  • Take the best possible photos (or consider hiring a pro).

Learn About All Your Options

From market trends to laws on in-person showings, keeping up with the changing rules on real estate can help you stay informed. That way, you know when you find a good deal (or need expert help).

  • Consider virtual alternatives in place of in-person showings to reduce risk.
  • Check your state’s rules that govern showings and safety protocols.
  • Recognize how the recession is impacting prospective buyers (and, therefore, sellers).

Organize the Essentials

You might expect selling your home to go smoothly, but paperwork problems and unforeseen inspection issues can throw a wrench in the works. Think about these essentials while you prepare to list your house.

  • Determine how quick of a sale you want – and what your sales contract needs to reflect.
  • Get your paperwork together so you’re ready at the drop of a hat.
  • Think about having an inspection before the buyers to avoid surprises

By taking the right steps in advance, you can get organized and streamline the sale of your house. Have all your ducks in a row to list your property today? Contact Team Manzon to find out your next steps and get expert help throughout the process.

Photo via Unsplash

Writer: Suzie Wilson

San Diego October Market Stat Update

Want to know how San Diego is doing in the market? Here’s your October market stat snapshot of how San Diego County is doing. We’ve also added Bonita as one of our city highlights for this month!

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bonita-market-stats-2020

If you like what you see and you want to know about a certain neighborhood. Contact one of our Team Manzon agents to learn more.