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!
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.
Here you are, you just bought a home. Now you’re wondering what’s the difference between the home insurance you got from your lender and a home warranty you’re being offered. Well, we’re here to give you a brief difference between the two. Hopefully, this will help you feel at ease.
Home Insurance is a requirement from your lender. This tends to be one of the conditional approvals in the loan process, where they provide a copy of home insurance or insurance agent. The insurance will protect your home from major items (leaks, break-ins, etc.) and the amount of coverage and what is covered depends greatly on which company you select. Most Home Insurance companies do not offer standard Earthquake protection. Earthquake coverage is usually a separate policy or an add on with a substantial price increase.
Home Warranty is usually paid for by the seller for your first year. This covers an appliance breaking, minor leak, etc. Again these coverages depend on which company you select and options. Most home warranty companies will dispatch a technician for repairs for a $75 deductible. The item is either repaired or replaced, again depending on which company and options are selected. Make sure you research which company is best equipped to help your family.
Want more in-depth information between the two? Ask your loan officer or agent about it! Or you can check out First American Home Warranty, one of the well-known home protection companies in the US.
Ready to buy or sell a house with Team Manzon? Start with a free consultation and see where your process will begin!
Here’s your monthly update! In the entire San Diego and La Mesa area.
We’ve covered the average days on the market, how many active listings, and sold homes.
Last Month saw a decline in home sales, but due to the lack of inventory that’s out there.
Good news is, people are still on the hunt for homes. Low inventory is not stopping anyone from buying as of right now, and in the Chula Vista Market alone, there were 158 active listings still in July.
So if you’re looking in the Chula Vista/Bonita area, here is your insight.
Contact Team Manzon today if you or someone is looking into the market for a house or if you would like to see how we help sell houses.
If you had plans to find your perfect home this year, the last few months may have made you a little anxious. With COVID-19 and a recession consuming our society and economy, it’s only natural for both investment buyers and first-time homebuyers to have some reservations. It’s also smart to have a few questions regarding these impacts, but you don’t have to spend hours searching for the answers. You can start by reaching out to an experienced real estate team to get the answers you need, but these FAQs and answers may also help.
This is the question on everyone’s mind right now but it’s an especially important one if you are planning on making such a big financial investment. Unfortunately, the answer to this question is a bit more complex than a simple “yes” or “no.” There are several factors that influence our economy and determine whether we are in a recession, including the GDP, the stock markets, and the housing market. What makes things so confusing right now is that stocks have fluctuated quite a bit over the last few months, with the market gaining a few points in recent days. Still, some experts do indeed believe that COVID-19’s housing market effects have driven us into an official recession. Coupled with a decreased demand for home showings and new construction, this could indicate a significant downturn in the market. The true effects of COVID-19 on the economy and housing market are yet to be seen, so it’s wise to stay updated.
If you are thinking about investing in your first real estate property, chances are you will be applying for some sort of financing. The good news is that you may end up snagging a great deal that equates to a lower mortgage payment. That’s because in an effort to shore up the economy, The Federal Reserve has drastically cut interest rates to their lowest point in years, and they plan on keeping them low for some time. Even with interest rates low, PennyMac loans notes that you should still shop around for the right loan. If you are only buying an investment property this year, you will still likely need to take out a conventional loan to fund your purchase, but the interest rates on this loan will be much lower. Unlike FHA loans, which usually have loose credit requirements and flexible down payments, you will also likely need to come up with at least a 20% down payment and meet more stringent credit qualifications.
If your state is one of the many that are opening back up, you may indeed be able to see potential properties in person. If you plan to visit these properties, you will still want to take the proper precautions to protect yourself. This may include wearing a face covering, which the CDC recommends doing anytime you leave your home. Continuing to practice these safeguards is absolutely crucial since the risk of COVID-19 is still very much alive and well. If you don’t want to wear a mask, or you simply don’t want to take any unnecessary risks, you can also view homes virtually. In fact, most home shoppers are opting for online walkthroughs, video conference open houses, and 3D walkthroughs in light of coronavirus closings and risks. Speaking of closing, drive-thru closings may also be an option if you prefer not to come into contact with other people. So ask your agent about these tools.
The decision to buy or invest in a home should never be taken lightly. So if you feel anxious about doing so with the potential for a recession so high, know that your feelings are valid. Also know that with the right real estate team and the right resources, you may be able to put those worries to rest. With rates so low, now could be the perfect time to invest in or buy real estate.
Photo Credit: Pixabay
Author: Suzie Wilson
There are still homes that need a home buyer and there are buyers that need specific homes. Here are the market stats from may, coming into this month of June.
If there is an area you’d love to learn more about, contact one of our Team Manzon Agents and we can give you a FREE Home Estimate and or help you locate a home you want.
Our Team Manzon members are heavily involved in several different organizations that help bring awareness and a difference in our local and broader communities. We want to support our members and what each individual stands for along with our values. Every month, we will highlight non-profit organizations and charities and movements that will bring positive change. We will continue to help bring awareness to everything that means a lot to hearts and to the people we work with.
We start with a small step and use that momentum to move towards a big goal.
“Not all of us can do great things, but we can do small things with great love.” – Mother Teresa
Local Organizations To Help and Donate To:
Groundswell Community Project http://www.groundswellcommunity.org/
Made In Paradise Hills https://www.madeinparadisehills.com/
We All We Got SD https://www.weallwegotsd.com/
Marsha P Johnson Institute: https://marshap.org/
The Sit In SD https://www.instagram.com/thesitinsd/
March For Black Womxn https://www.m4bwsd.com/about-us
Saturday, June 6th, 2020 4:00 PM :
First Time Home Buyer Seminar w/ Chelsea Almario of Team Manzon & Sonny Alquizar of American Pacific Mortgage
Learn the ins and out of buying your first property and work on the numbers with one of our partnered Loan Officers. Start the process by learning and ask the questions you need to have answered. We’ll also be giving away free tools for you to use, in helping you decide whether buying a home now is the right time.
Friday, June, 26th, 2020 7:00 PM :
Virtual Bingo Night hosted by Team Manzon. A family fun event that welcomes everyone to join in and play. Win prizes and compete with other people. Register by June 24th at bit.ly/bingo-tm.
June 21, 2020
Father’s Day! To celebrate father’s day we’re giving away a BBQ Grill to our Past Clients who submit their best dad joke. For those who have not worked with us, will have a chance to win a gift card to Lowes! Start submitting your videos to Team Manzon’s Instagram or Facebook Messages or feel free to text it in at 619.304.7711
Saturday, June 27th, 2020 Time TBD
Home Selling Seminar w/ Anthony Manzon. Learn everything you need to know about selling your home. What to do, how, and understanding the process. So if you’re thinking in listing your home, this is the perfect time to learn how it all works and ask your questions.
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Team Manzon is focused on helping everyone that needs help. Whether it’s through awareness or education, we are always helping people. This month we’re focused on Men’s Health Awareness, Pride Month, and The Movement For Change in Our System. We stand for equality and better treatment for everyone. We believe we can do better to make a change. To help contact your local leaders to make a change in our system and donate to an organization that will help make a difference.
