Buy NOW! 2008

San Diego is "On SALE"!  Now is your chance to get a piece of the action!

2008 is a great time to buy in San Diego!  Prices, in many areas, are similar to what they were in 2003.  And, interest rates still remain very low from a historical perspective.  There are many neighborhoods where you can get a single family 3/2 home for $250-300K - unheard of 2 years ago!!! 

San Diego is a great place to live, work and do business.  The San Diego economy is highly diversified; our climate is the best in the U.S., and projections are that the area will continue to grow.

While San Diego has experienced a slowdown in the real estate market, it represents an opportunity for buyers to get their foot in the door when they had no chance a couple years back.  Ironically, everyone was on a buying frenzy when the prices were high and now people are sitting on the sidelines.  Don't forget the saying BUY LOW - SELL HIGH!!!  It is impossible to exactly "time the market", but there are great values to be had in many nighborhoods now.  It is a great time to take advantage of the REOs (bank-owned homes) and the short sales (sales where the lender will discount the debt).  We are active investors and always on the lookout for great buying opportunities.  At LK Realty, we can help you find a great investment property or perhaps your first home.  NOW is a GREAT TIME TO BUY!    

In addition to potential for appreciation, real estate is a tax shelter. Interest payments and property taxes on your personal residence are tax deductible. For tax purposes you can have two residences and you can deduct the mortgage interest payments and property taxes for both residences. Call us or consult your tax advisor for details.

Most significantly, if you live in your principal residence 2 out of 5 years, you can sell your home and pay no taxes on the profit! In certain situations, you may be able to live in your personal residence for less than two years and pay no taxes. Consult us or your tax advisor for full details.

Buying real estate in San Diego could be the smartest investment decision you ever make. If it is your first house or condo, you will stop throwing away precious money on rent. You will obtain tax deductions, enjoy the pride of ownership, participate in the American dream and you may see substantial equity accrue as time goes by.

“I have been and continue to be in respectful awe of the thorough, efficient, competent way you handled this sale. You have exceeded my expectations.  I also appreciate your doing your best to make things as easy for me as possible.”

L. Payette

April 2008

Here's how we can help you! 

1) The first step in the home buying process is to get qualified for a loan.  The loan industry has changed dramatically as of 2008.  Stated income loans are practically non-existent, and 100% financing, while still available, is more diffucult to obtain.  FHA loans, which are insured by the Federal government are making a big comeback.  The loan limits have been raised by the US goverment to accomodate even many of the homes here in San Diego.  Our limit is $697,500 now!

• Are you a first time homebuyer - FHA may be great for you! 
• Do you have a job or any regular source of income?
• Do you have a FICO score of 600 or higher? (Even in the 500-600 range, you may be able to qualify, FHA looks at your last 12 months of credit in particular).
• Do you have funds for closing costs and/or a downpayment?  The more you can save toward a downpayment, the better your interest rate will be! 

  We can refer you to experienced mortgage brokers/lenders who can find you a loan that best meets your needs.  We have lenders who can let you know in as little as 48 hours the amount you can qualify for and the types of loan programs available to you.  Or, you can work with your own bank or credit union to secure financing.   

  2)  The next step is to define what you are looking for in a property:

  • House vs condo vs multi-family
  • Number of bedrooms/size
  • Area or neighborhood
  • Price
  • Older vs newer
  • Are you handy?

  It is critical to prioritize what is important to you such that we can focus on finding the ideal property for you.  We will set up a personal "Client Gateway" website for you.  This will enable us to show you listings at your convenience via computer and narrow down your search.  If you are looking for "best buys" we will make recommendations  based on time on market, motivation of sellers, comparable property market analysis.  At Laturno Kuick Realty, we evaluate hundreds of propeties every month always searching for the gems!

  3) When you find the right home, it's time to make an offer and start the negotiation process.  We strategize with you to come up with a winning offer - and it's not only about price.  Successful real estate negotiation is our specialty!  In this market, the more offers you make the more likely you'll get a good deal! 

  4) We handle the details of the escrow process and work hard to keep everything on track!  There are lots of moving parts in a real estate transaction - house inspections, appraisals, contingency periods and disclosures to name a few.  We work with you every step of the way to make sure you are fully aware of all aspects of the property itself, as well as your responsibilities and rights in the transaction.  Our team includes experienced escrow officers who act to carry out the details of the contract, resulting in a successful closing!