Today I conducted another one of my free short sale workshops about mastering at the art of the short sale transaction. This one took place in Chula Vista, California. We had a great group of participants, and included many Realtors® and lenders. Lots of our discussion was centered around the new HAFA short sale program. There were several questions asked about designations for short sales specialists, specifically about all of the different designations and certifications available in the distressed property market.

One designation that I am aware of is the SFR Designation which you can obtain through the National Association of Realtors®. I’m also aware of the Certified Distressed Property Expert designation (CDPE).

Many Realtors® in California have recently received invitations to short sale certification programs of all sorts (which is probably why I got the question at the workshop). Some of those designations are offered by various companies throughout the United States and cost upwards of 0. I was asked whether these designations are valid, why they are important, and what they can do to impact the real estate agent.

Those are great questions. When I receive an invitation to participate in a class or consider a certification or a designation, I always want to know what I am going to get out of it. For example, if I want to learn about short sales and how to work the distressed property market, it is not necessarily important to me whether I will receive the designation. The most important thing for me is to learn about how to work in the distressed market in order to maximize my profit and to help my clients to resolve their real estate-related problems. So do I have to pay 0 to do that? Sometimes I do, sometimes I don’t.

However, there are some certification and designation programs that might have other benefits to me. For example, I know that with the REO market there were many, many certification programs that were available to agents that would get them on special lists so that they could receive the benefit of REO transactions.

I recent blog post entitled Internet Quack or Legitimate Purveyor of Information in which I discussed the importance of carefully considering everything that you read, particularly on the Internet. So, with regard to all of the certifications and designations currently available, I would say that we get so many invitations to participate in designation to programs that cost quite a bit of money, but the most important thing to do is to consider is how each will work with our business plan, and how well the program will help to improve our business in the future. It’s important to consider who endorses the program, the certification, or the designation. Does the invitation come from an Internet quack or a legitimate purveyor of information? So if you receive an invitation to a short sales certification in the near future (or any other certification program), I would certainly look into how it’s going to benefit your business and your clients before you drop three Franklins into the hat.

(Sidebar: I wrote this blog post using the voice recognition iPhone app that I read about in Todd Clark’s post. It was my first time trying out the software. If you have an iPhone and like to blog, you should check it out!)

Goodbye Four Seasons Aviara Resort

It’s now, sadly, the truth. The famed Four Seasons Aviara Resort is leaving Carlsbad in June after a sting of 13 years managing the resort. Well, the resort will still be there but the Four Seasons will no longer be managing the resort and golf course. 

I mentioned way back in June 2009 the arbitration that was in process as the result of allegation by the resort’s owners of alleged mismanagement by the Four Seasons of funds in its operations in Carlsbad. The Four Seasons denied any wrong-doing. 

READ MORE:  Carlsbad’s Four Seasons Aviara – Will They Stay or Will They Go? 

I will miss the Four Seasons, having visited multiple times including having our daughter’s wedding reception there last October (thankfully things had not been resolved with the arbitration). The spa is fabulous, and dinner at Vivace was always a treat. 

The new resort will be the Park Hyatt Aviara Resort beginning June 21, 2010. Of course we’ll have to test it out – the views will still be wonderful, and I have heard some good things about the Park Hyatt hotels. It may not be the Four Seasons but perhaps the quality will still be top notch. Time will tell.

Carlsbad Homes for Sale – Blossom Grove, New Construction Homes at The Foothills in Carlsbad 

Buyers interested in new construction should consider the Carlsbad homes for sale at Blossom Grove, new construction homes at The Foothills in Carlsbad. 

Read More:  Carlsbad Village by the Sea 

The new planned community of The Foothills, on 157 acres almost 50% of which is preserved open space, is located just south of Calavera Hills, another Carlsbad master planned community, at the junction of College and Cannon.

There are 3 new home communities at The Foothills with a range of floor plans, sizes and prices. 

There will be 110 homes built at Blossom Grove at The Foothills. Some things to know: 

* 4 floor plans ranging from 1992 SF to about 2840 SF in Mission, California Bungalow and Tuscan styles

* 3 to 4 bedrooms, 2 to 3 baths, and Great Rooms, with other options such as a bonus room or optional 5^th bedroom

* 2 car garages (plus storage area in some floor plans)

* Single story plan is 1992 SF with 3/2 (limited in quantity)

* The Foothills Swim Club with solar-heated pool, children’s pool, paddle tennis, restrooms, cabanas, fireplace, play area, picnic table, yoga circle, covered seating, and walking trails on 2.6 acres when fully built out

* New Carlsbad High School to be built close by

* Carlsbad Unified School District 

Carlsbad Village amenities and the Carlsbad beaches (links to article with lots of photos) are just a few miles away from the Blossom Grove community. Plus you are near major commuting routes (e.g., El Camino Real, the 78 freeway). 

Pricing on these Carlsbad homes for sale at Blossom Grove is very favorable. Prices range from about 5,960 (single story) to 0,905 (more or less depending on lot location and size, and options and upgrades you select).

At 8/SF to around 4/SF (the single story) these are a terrific opportunity. 

Blossom Grove homes are available in Phase 1 for a June move-in, and at the end of July for Phase 2. 

Read More:  Carlsbad Real Estate – Carlsbad Real Estate Market Report for March 2010 

View Larger Map

NOTE: The Google map is off a bit – Blossom Grove is a little further to the right than shown.

Your time is about gone to capture the Federal tax credit (deadline is Friday April 30 to get a contract in place). But you will be able to take advantage of the California home buyer tax credit (either first time buyer OR buying new construction) of up to ,000 paid over 3 years provided you close on your new Carlsbad home on or before December 31, 2010. 

I’ve toured the new homes at Blossom Grove and would be pleased to show you around and help you through the purchase process.

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All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Escondido home sellers frequently ask about the benefits of a short sale versus a foreclosure. Keeping in mind that I am not an attorney or an accountant and that anyone facing foreclosure should always consult with a qualified attorney or accountant, I’d like to review three common concerns facing homeowners in distress as well as their consequences.

What will happen to my credit score?

In a foreclosure, your credit score (FICO score) may be lowered anywhere from 250 to more than 300 points. Typically this will impact your credit for a period of five years.

In a short sale, late payments on your mortgage will show up on your credit report. Once the short sale is complete, your mortgage company will report your mortgage as “paid as agreed,” “settled,” or “paid as negotiated.” This can lower the credit score as little as 50 points and the effects on the credit report may be as brief as one to two years.

Will my lender pursue a deficiency judgment?

In a foreclosure, the bank has the right to pursue a deficiency judgment.

In a short sale, it is possible to convince the lender to give up the right to pursue the deficiency judgment. In the government’s new HAFA program, servicers who participate give up the right to pursue a deficiency judgment.

Will a short sale or a foreclosure impact my future ability to borrow?

In a foreclosure, borrowers may have to disclose on a loan application whether they have a property that has been foreclosed in the last seven years.

In a short sale, there is no similar declaration question on any loan application.

These are just some of the differences between a short sale and a foreclosure. Each situation is unique; so, don’t forget to discuss your situation with an attorney or an accountant.

The Carlsbad Village Faire is Coming to Carlsbad

May 2, 2010 

San Diego County’s largest street fair, the Carlsbad Village Faire, is being held this Sunday, May 2 in Carlsbad Village. 

The Carlsbad Village Faire is held along the main road, Carlsbad Village Drive, and spills over onto side streets including Grand Avenue and State Street (shown in the photo). 

The Carlsbad Village Faire (one of two each year) is an amazing outdoor event, one of the largest in the country (they claim it IS the largest 1-day fair), with over 850 vendors (featuring clothing, arts and crafts, gift items, collectibles, garden items, antiques and so much more), and a multitude of food and music offerings. And of course you can explore a myriad of restaurants and retailers in the area who will also welcome your visit. 

Parking is a challenge and over 100,000 folks are expected, so get there early. Or take advantage of the free parking and shuttle service from the Westfield Mall (at the 78 and El Camino Real/Jefferson) and the Poinsettia Coaster Station on Avenida Encinas between Palomar Airport Road and Poinsettia. 

The Carlsbad Village Faire is free and an event NOT to be missed. Hours are 8 am until 5 pm. 

Read More:  Carlsbad Village Faire (including information for exhibitors)

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All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

A friend of mine from college who lives in Northern California found me on facebook after we had lost touch for quite some time. And, guess what? He wants to buy a small place in Encinitas because he comes down here for business once a month! Here’s to being on facebook! It really does create success in social networking.

But I am not writing about facebook. I am writing about home buying in Encinitas. My friend said that he wanted a condo with “a view”.

“What kind of view?” I responded. “An ocean view? A golf course view? A view of your neighbor’s backyard?”

You see all of these are possible views in Encinitas. Being in North San Diego County, many of our properties have wonderful ocean views. However, some of those ocean view properties can be pretty pricey.

We began to discuss his options and he began to look at the condominiums for sale. There are so many gorgeous and affordable condominiums for sale (many with partial ocean views) in Encinitas right now, and prices are great. Then, we began to crunch the numbers. Since he is only going to use the condo for about 30-40 nights per year, does condo really make sense? Some Homeowner’s Associations have fees which might seems a little bit less practical if you are only going to be there one month a year.

So then we began to think outside the box. We began to look at duplexes. With a duplex, you can live in one and rent the other. This way you will have income to offset the mortgage-plus no Homeowner’s Association fees. This idea was perfect for my friend. It addressed the issues he had about the property being vacant and also some of the cost concerns.

There are a handful of duplexes currently for sale in Encinitas. We saw two homes on one lot: excellent value. One home was 3 bedrooms, 2 baths and the smaller home was 1 bedroom, 1 bath. Then we saw two little beach style cottages just a hop, skip, and a jump from Moonlight Beach. He is thrilled now that this “thinking outside the box” will really help him to obtain a great property in Encinitas.

So, if you are looking for property anywhere in North San Diego County, make sure to discuss your needs with a qualified Realtor®. If necessary, he or she can help you to think outside the box!

This is Lily – Getting her Fix

I can’t claim credit for this funny photo – my daughter snapped it yesterday but I had to share it.

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All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Yesterday I read Teresa Boardman’s featured post entitled Funky Photo Effects. It discusses a website called BeFunky where you can upload photos and apply some very cool effects. Since my family constantly accuses me of “playing” on the computer when I should be “working”, I had to wait until everyone left this morning to try out all of the cool photo effects.

Here is a photo I took of a ceramic frog in my yard:

I uploaded it onto the Be Funky website and voila-I have a Renoir (or Monet or Manet).

I ‘undid’ my Impressionist frog, and then created a cartoon:

 I clicked ‘undo’ again, and then created an oil painting:

I had lots of fun. Now, can you please tell me how I can use this fun site when selling real estate? Brochures? Advertisements? What do you think?

Carlsbad New Homes for Sale at 53 Melrose in Carlsbad

Carlsbad buyers interested in taking advantage of the Federal tax credit for home buyers before it ends April 30 (the date by which you must have a binding contract in place) OR who are interested in the California tax credit for buyers of new construction, should consider the new homes for sale at 53 Melrose.

53 Melrose is a new community under construction adjacent to La Costa Ridge on the east side of town along Rancho Santa Fe Road where it meets Melrose

READ MORE:

Carlsbad Village by the Sea

La Costa – A Great Community in Carlsbad

La Costa Ridge – Master Planned Community at La Costa in Carlsbad

Some things to know about the new homes at 53 Melrose:

• Only 53 homes to be built
• San Marcos Schools
• 3 floor plans, from 2025 SF to 2411 SF
• 3 to 5 bedrooms depending on floor plan and options
• 3 or 3.5 baths
• 2 car garages
• Great pricing for new homes in Carlsbad – 3,464 to 7,797 currently
• Late May to June occupancy for the first phase of 9 homes (1 sold already) 

Some homes back up to open space and in the future there will be interior lots.

If you would like more information about 53 Melrose homes for sale, or to arrange your personal tour, let me know.

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All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

The Leucadia 101 Streetscape is Changing

It’s true…literally. The Leucadia 101 streetscape, as they call it, IS changing.

So what DOES this mean? 

Leucadia is a funky, eclectic beach town (the northern-most community in Encinitas, just south of Carlsbad) with a strong surfing history and feel.

Terrific beaches, a lack of glitzy retailers and boutiques, and an amazing array of housing from apartments to trailer parks to multimillion dollar beachfront homes combine to create an environment reminiscent of years ago but tiptoeing into the future. Folks like it that way.

Indeed, bumper stickers that shout “Keep Leucadia Funky” are commonplace. 

READ MORE: Leucadia – Surfers’ Beach Community 

Leucadia is also honme to some of my favorite haunts – Le Papagayo for terrific food and music, and the Builder’s Candy Store, to name a few.

Some of that Leucadia streetscape is about to change. In a major way. And not without some bumps along the way.  As one would expect there have been lots of controversy over the planned improvements, what they should be, whether they are needed, haev the approrpiate stuides been done, etc.

The landscape, including the main thoroughfare…the historic 101 Coast Highway…will be undergoing major changes over the new few years.

And thus, the Leucadia 101 Streetscape, the name coined for the massive undertaking for remodeling the stretch of road through Leucadia (the coolest part of Encinitas, IMO).

Here’s a briefing on what will be happening:

• 2 northbound lanes of the Coast Highway will become 1
• 5 round-a-bouts (rotaries, for you New Englanders)
• Adding 900 trees for a total of 1,111 with 8% removed
• Additional parking (both diagonal and parallel)
• A Northbound bike lane and a walking trail

There will be multiple phases as these changes are implemented – I envision some major traffic issues, but that’s my traffic pessimism talking perhaps. And the fact that is it changning significantly has me a little worried. Seems this can helpo many of the restaurants and retailers, andhe landowners. That’s good. I’m taking a wait-and-see approach.

Visit the Encinitas website for more information and to sign up for email alerts when the page is update. 

FAQs are at the bottom of the main page of the Leucadia 101 Streetscape site.

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All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits