Pace Realty

San Diego is undervalued

2009-06-05T11:33:00.000-07:00

In a quick turn around San Diego has gone from one of the most overpriced markets to a real bargain according to the forecasters at IHS. The San Diego Union Tribune recently reported on the situation.

Union Tribune Story on San Diego housing prices

Get in contact with us today to see if there is a way for you to take advantage of this opportunity. Interest rates have been climbing as of lately so keep that in mind if you are considering financing.

Joe Pace

Pacific Beach Christmas Parade '08

2009-01-15T13:26:00.000-08:00

By Joe Pace:

I will never forget the PB parade this year. It wasn't so much for the usual things that happen at the annual Christmas parade, but for what happened with the Chargers during the parade. I ran slightly behind this year while I was listening on the radio to what I would imagine would be the inevitable doom of our Chargers in a all but certain loss to the Kansas City Chiefs. We arrived in Pacific Beach, and left our car with only a few minutes left in the 4th quarter and with Kansas City clearly in charge of the game. As I walked down Garnet to find our spot with my family in tow, I could hear occasional groans from the sports bars displaying the game. Eventually as I made my way further down I would hear some cheering. It became obvious to me that our Bolts had a pulse on the season when the sports bars cleared in elation after the incredibly improbable come back. And the Parade wasn't so bad either. Here is a couple photos, this year I really liked the Low riders.

Dan Keyes mortgage update end of July

2008-07-23T14:06:00.000-07:00

Lots of exciting news, IndyMac got taken over by the FDIC, and Fannie & Freddie are in deep trouble. No surprise...the gov't is trying all it can to prop up both companies; with $5 trillion in mortgages, hold on tight, one day you might be sending your mortgage payment to the gov't. June CPI (up 1.1%) and PPI (up 1.8%) both showing inflation, rates are much worse and will get worse. It is getting harder and harder to get 'stated income' loans so...
CALL ME IF YOU KNOW OF ANYONE WHO NEEDS TO REFINANCE 619-665-3988

Rates are worse from last week. I expect them up more today

Conforming Rates Points APR
30 yr fixed mortgage 6.625% 0.25 6.89%
15 yr fixed mortgage 6.250% 0 6.50%
30 yr Conf Jumbo 6.625% 0.75 6.99%
5 yr ARM mortgage 5.875% 0 6.11%
7 yr ARM mortgage 6.000% 0 6.20%
10 yr ARM mortgage 6.500% 0 6.80%
Jumbo
30 yr fixed mortgage 7.875% 1 8.29%
15 yr fixed mortgage 6.875% 0.875 7.39%
5 yr ARM mortgage 6.250% 0 6.50%
7 yr ARM mortgage 6.500% 0 6.80%
10 yr ARM mortgage 6.750% 0 6.99%
Interest Only 5/1 ARM 6.250% 0 6.50%

RATES SUBJECT TO CHANGE WITHOUT NOTICE.

Slump spares a few areas

2008-04-19T12:43:00.001-07:00

Median home prices rise in Encinitas, La Jolla, Ocean Beach

By Lori Weisberg : San Diego Union-Tribune
STAFF WRITER

April 16, 2008

As median home prices continue to decline, it seems no community is immune to the slumping real estate market. And yet, during the last quarter a few coastal areas were able to eke out a healthy rate of price appreciation reminiscent of the housing boom.
Take Ocean Beach, which experienced a 14.4 percent year-over-year increase in the median price of a resale home during the first quarter of this year. By comparison, resale home prices for the entire county fell 21 percent during the same period, according to statistics released yesterday by DataQuick Information Systems. In fact, prices declined for all but three of the county's 59 ZIP codes that recorded at least 20 sales between Jan. 1 and March 31 of this year and last. Bucking the trend were Encinitas, La Jolla and Ocean Beach, which experienced price gains, while in Mission Beach and Pacific Beach, the median price remained relatively unchanged from last year.
That comes as little surprise to real estate agent Cindy Wing, who sells homes in the 92107 ZIP code, which includes Ocean Beach, Sunset Cliffs and part of Point Loma. “We're selling paradise because it's the beach, and it's beautiful,” Wing said. “That's how I feel when I sell. It's kind of a vacation feel in your everyday life. Prices remain high, with the median cost of a home at $829,500, compared with $725,000 a year earlier, according to DataQuick.
Laura Godfrey, an environmental attorney, recently sold her Ocean Beach cottage of two years and traded it in for a significant upgrade to a $957,000 Spanish revival house with an ocean view. While she broke even on the sale of her house, she was able to buy her new house for nearly $350,000 less than the original asking price. “I feel a little stretched, but I have the income potential, and I plan to stay here for awhile,” said Godfrey, 31. “I joke around that people will be dragging my body out of here in 50 years. “And I love Ocean Beach. I come from a small town, and this is a small town within a big city and it's a short commute from downtown,” she said. “I know all my neighbors, and I feel safe as a single female here. Also, I surf, so I can walk down to the beach with my board. I like my life.”
There is little for homeowners to like, though, about the steep plunge in home values in inland areas such as west Escondido, Encanto, Paradise Hills, Fallbrook and Spring Valley, which experienced declines of 30 percent or more last quarter. Part of the blame may lie with the high number of foreclosures some of these neighborhoods have experienced, which in turn drag prices down for the whole area, say real estate agents. “I think we've all seen that folks are out looking at the bargains, so those are a large percentage of what's selling – the bank foreclosures and short sale properties,” said Lori Staehling, president of the San Diego Association of Realtors. “They're generally in poor condition, and the banks want 30-day sales, so prices are lower. “But it doesn't necessarily mean every home in the county has gone down by those percentages.

(*) Story Edited (reduced) to fit on one page.

REBA - SALES OF LA JOLLA HOUSES DURING THE MONTH OF FEBRUARY

2008-03-06T13:39:00.000-08:00

SALES OF LA JOLLA HOUSES DURING THE MONTH OF FEBRUARY
PENDING
YEAR 2005 32 houses Volume $69,315,000 Average Price $2,166,000
YEAR 2006 20 houses Volume $50,865,000 Average Price $2,543,200
YEAR 2007 29 houses Volume $66,483,000 Average Price $2,292,500
YEAR 2008 10 houses Volume $30,159,000 Average Price $3,015,900
SOLD
YEAR 2005 19 houses Volume $49,119,000 Average Price $2,585,200
YEAR 2006 16 houses Volume $42,264,000 Average Price $2,641,500
YEAR 2007 17 houses Volume $35,520,000 Average Price $2,089,400
YEAR 2008 11 houses Volume $31,327,000 Average Price $2,847,900
SALES OF LA JOLLA CONDOMINIUMS DURING THE MONTH OF FEBRUARY
PENDING
YEAR 2005 25 condos Volume $28,472,000 Average Price $1,138,800
YEAR 2006 19 condos Volume $22,276,000 Average Price $1,172,400
YEAR 2007 18 condos Volume $17,893,000 Average Price $ 994,000
YEAR 2008 13 condos Volume $15,779,000 Average Price $1,213,700
SOLD
YEAR 2005 14 condos Volume $13,603,000 Average Price $ 771,600
YEAR 2006 8 condos Volume $ 9,915,000 Average Price $1,239,300
YEAR 2007 21 condos Volume $21,185,000 Average Price $1,008,800
YEAR 2008 5 condos Volume $ 4,780,000 Average Price $ 956,000
REBA
February 29, 2008

Spring Sprouts!

2008-03-06T12:06:00.000-08:00

I have recently been getting into growing my own fruits Herbs, and Vegetables. I didn't realize how fun and addicting this can be. To be fair I have had some help from people who are very knowledgeable about what works and what doesn't here in San Diego. I started recently with sprouts and have had some amazing results. They sell sprouting kits on eBay or you can make your own. The tools required for sprouting are:

1. A mason Jar or other glass jar, it's easy to just wash out an old spaghetti jar for new life as your sprouting jar.

2. Sprout seeds, any local garden nursery has plenty of them, call ahead just to make sure. For some reason the big warehouse stores don't seem to have much, if any. Online there are several great sources including eBay. For best results I recommend starting out with Alfalfa, if you like spicey sprouts Raddish sprouts are incredibly tasty and easy to grow.

3. On the top of the Glass jar you will need some way of straining water but not letting the seeds fall out, and it must be breathable. There are special plastic caps that have a plastic screen on them that you can find on eBay or you can use cheesecloth and a rubberband. One criticism of the cheesecloth is that it remains fairly damp and can cause some problems if it doesn't dry fast enough. I have had recent sucess by cutting holes in the original lids and attaching vinyl screen for straining the water.

Now your ready to sprout, the best part is it happens very rapidly:

1. put two tablespoons of sprout seeds into your Jar

2. Place the plastic strainer cap or cheescloth over the top.

3. add enough water to soak the seed for 8 hours initially.

4. Place the jar of sprouts on a window sill

5. Drain the water after the initial 8 hour soak, and then only rinse the seeds twice a day, making sure to swirl the water around the sprouts and then drain as much of the water out as possible. You want the sprouts damp but not sitting in water. Always place the sprouts on a window sill.

It should take about 3-7 days for most sprouts to start really going and about 7-10 days before you can start putting them in your salad, sandwiches, etc.

The above Photo was some extra snap pea sprouts that were growing in my Garden, with some Cheese and dressing and the morning paper. It's amazing how rewarding growing your own food can be.

Loan Rates for Jan 18, 2008

2008-01-18T13:21:00.000-08:00

Retail sales fell in Dec by 0.4%. CPI or Consumer Price Index was up 0.3%, which was higher 0.2% expectation. The core CPI came in at 0.2%, leaving year-to-year core at 2.4%, above the Feds comfort level of 1-2%. The core PPI only rose by 0.2% in Dec in line with expectations. The Fed meets Jan 30th and everyone is predicting a 0.5 point rate cut.

Rates are lower from last week

Conforming	Rates	Points	APR
30 yr fixed mortgage	5.750%	0	6.09%
15 yr fixed mortgage	5.250%	0	5.50%
3 yr ARM mortgage	5.750%	0	6.00%
5 yr ARM mortgage	5.875%	0	6.10%
7 yr ARM mortgage	6.125%	0	6.30%
Interest Only 5/1 ARM	5.875%	0	6.10%
Jumbo
30 yr fixed mortgage	6.750%	0.5	7.00%
15 yr fixed mortgage	6.375%	0.5	6.79%
3 yr ARM mortgage	5.750%	0	6.00%
5 yr ARM mortgage	5.875%	0	6.10%
7 yr ARM mortgage	6.125%	0	6.30%
Interest Only 5/1 ARM	5.875%	0	6.10%

PLEASE CALL FOR SUPER JUMBO RATES. RATES SUBJECT TO CHANGE WITHOUT NOTICE.

P.B. Christmas Parade '07

2007-12-15T12:13:00.000-08:00

pictures and story by: Joe Pace

Despite early morning rainfall This years PB Christmas parade went on as planned. Families were told on the Pacificbeach.org website that rain or shine the parade will go on as planned. They did not lie, but attendance and actual parade marchers were definitely down from recent years. The best part about the event this year was that there was no shortage of candy canes. All of my kids and nephews had their pockets stuffed with candy canes this year. The worst part of the parade this year for me personally was picking the wrong side of the street, we were on the shaded side. There was some relief when Starbucks employee's passed out peppermint mocha samples. I'm not a huge Starbucks fan but at that moment, the warm coffee was nice. Every time I go to the parade I can't help but remember marching in it for most of my youth. Between Soccer, Cub Scouts, Boy Scouts, etc. It was rare for me to watch the Parade from the sideline, if I was lucky I was early in the parade so I could watch the rest of it after we went through.

Big Waves Challenge Surfers at the Cove

2007-12-05T13:57:00.000-08:00

-Story by Joe Pace

In what is becoming an annual occasion here in December, huge waves rolled in today. Challenging the courage, or foolishness, of daredevil surfers. When I arrived at the Cove today around 11am the waves were easily double and sometimes triple overhead. Big Wave warnings were announced on the radio. Surf forecasting websites have been tracking this swell prior to its arrival today. To truly appreciate a swell like this, you have to see it from a location that can handle the size of the swell. Places like The Cove or at Culumet park which has Hannamonds break, simmon's reef also comes to mind. Those breaks have deep water reefs that don't even allow for the waves to break until the waves get a certain size, which usually well over 6'. It's at these types of locations that you can observe and appreciate the immense power of how big these waves are. Not to be taken lightly these conditions have led to deaths in the past and most likey will in the future. But as an observer, one can't help but appreciate nature in one of its most dynamic moments.

all pictures copyrighted by Joe Pace

2007-12-01T13:12:00.000-08:00

REBA

SALES OF LA JOLLA HOUSES DURING THE MONTH OF NOVEMBER
PENDING
YEAR 2004 24 houses Volume $47,273,000 Average Price $1,969,700
YEAR 2005 25 houses Volume $67,160,000 Average Price $2,686,400
YEAR 2006 30 houses Volume $60,884,000 Average Price $2,029,400
YEAR 2007 8 houses Volume $20,518,000 Average Price $2,564,700
SOLD
YEAR 2004 25 houses Volume $43,947,000 Average Price $1,757,800
YEAR 2005 18 houses Volume $43,216,000 Average Price $2,400,800
YEAR 2006 19 houses Volume $37,782,000 Average Price $1,988,500
YEAR 2007 7 houses Volume $13,314,000* Average Price $1,902,500
*($17,000,000 Sale not included)

SALES OF LA JOLLA CONDOMINIUMS DURING THE MONTH OF NOVEMBER
PENDING
YEAR 2004 22 condos Volume $21,100,000 Average Price $ 959,000
YEAR 2005 25 condos Volume $24,044,000 Average Price $ 961,700
YEAR 2006 19 condos Volume $19,220,000 Average Price $1,130,500
YEAR 2007 13 condos Volume $18,142,000 Average Price $1,395,500
SOLD
YEAR 2004 20 condos Volume $20,114,000 Average Price $1,005,700
YEAR 2005 23 condos Volume $18,981,000 Average Price $ 825,200
YEAR 2006 25 condos Volume $24,208,000 Average Price $ 968,300
YEAR 2007 8 condos Volume $10,114,000 Average Price $1,264,200
REBA
November 30, 2007

Dan Keyes' Mortgage News -Nov 30, 2007

2007-11-30T12:10:00.000-08:00

Here Is Dan Keyes' latest email to me regarding current Loan rates and news:

The conforming loan limit for 1 unit will remain at $417,000 for 2008. The core Personal Consumption Expenditure (PCE), one measure for inflation came in at 0.2% for Oct; this leaves year-to-year core PCE at 1.9%. Consumer confidence for Nov was 87.3, lower than expectation of 91.5. Exisiting home sales for Oct dropped 1.2% to a 4.97 million pace, the lowest since 1999. GDP for Q3 reported at annual rate of 4.9%.
CALL FOR ANY LOAN SCENARIOS OVER THE WEEKEND

Rates lower from last week mainly on conforming.

Conforming
30 yr fixed mortgage Rate 6.000% points 0 APR 6.29%
15 yr fixed mortgage Rate 5.625% points 0 APR 5.99%
3 yr ARM mortgage Rate 5.875% points 0 APR 6.20%
5 yr ARM mortgage Rate 6.000% points 0 APR 6.30%
7 yr ARM mortgage Rate 6.250% points 0 APR 6.50%
Interest Only 5/1 ARM Rate 6.000% Points 0 APR 6.30%
Jumbo
30 yr fixed mortgage Rate 6.625% points 1 APR 7.00%
15 yr fixed mortgage Rate 6.500% points 1 APR 6.79%
3 yr ARM mortgage Rate 6.000% points 0 APR 6.30%
5 yr ARM mortgage Rate 6.125% points 0 APR 6.30%
7 yr ARM mortgage Rate 6.375% points 0 APR 6.60%
Interest Only 5/1 ARM Rate 6.125% points 0 APR 6.30%

PLEASE CALL FOR SUPER JUMBO RATES. RATES SUBJECT TO CHANGE WITHOUT NOTICE.

Supreme court sends Children's pool back to the kids

2007-11-30T09:27:00.000-08:00

http://www.signonsandiego.com/news/metro/20071130-9999-7m30seals.html

Children's Pool ruling is upheld
By Terry Rodgers
UNION-TRIBUNE STAFF WRITER
November 30, 2007
The state Supreme Court has decided to let stand a lower court's ruling requiring the city to dredge Children's Pool beach in La Jolla to disperse a resident colony of harbor seals and make the cove sanitary for humans.

The decision, issued Wednesday, leaves in place a unanimous ruling by the state Court of Appeal in September, which held that the city had failed to comply with the terms of a 1931 trust transferring ownership of the cove from the state. The agreement requires the city, as the property's landlord, to maintain the cove as a swimming beach for children.
Paul Kennerson, a former president of the La Jolla Town Council, had sued, contending the city violated the trust by allowing sand to fill in the cove and permitting seals to monopolize the beach at the expense of children.
In August 2005, Superior Court Judge William C. Pate, now retired, ruled in Kennerson's favor. Pate ordered the city to restore the beach to what it would have looked like in 1941, when the beach was narrower and seals fewer.
“I think it's important to maintain the heritage of the community,” Kennerson said, adding that he pursued the case to restore the public's full use of the beach for swimming and diving.
The city now must pay Kennerson more than $468,000 in attorney's fees.
Bryan W. Pease, an attorney for the San Diego-based Animal Protection and Rescue League, said the decision may derail efforts to reinstall a rope barrier to protect seals during their birthing and pupping season, which begins in December.
“This court decision creates more questions than answers,” said Pease, who added that the legal battle is certain to continue.
Pam Hardy, spokeswoman for City Council President Scott Peters, who represents La Jolla, said the city now has no choice but to “find a safe and humane way to comply with the court's order.”
Terry Rodgers: (619) 542-4566; terry.rodgers@uniontrib.com

Some Green advise for Christmas

2007-11-28T11:30:00.000-08:00

There is a big push to start thinking green this year around Christmas. One of the more familiar ways to do this is to purchase an artificial tree. If you haven't been looking lately, the newer artificial trees are far from the pipe cleaner style familiar from years past. They now have very realistic features, minus the pine tree smell, sap, and brown needles all over the floor. Be prepared they are still very inconvenient to store after Christmas, as they are still large even after being broken down.

www.catalogchoice.org is a new website that has been discussed on National Public Radio. According to their website this is a free service that allows you to opt out of any Catalogs that are currently scheduled to be delivered. This potentially could save quite a bit of trees over not only Christmas but over whole holiday season. Below is the environmental facts from the Catalog Choice website:

Did you know?

Over eight million tons of trees are consumed each year in the production of paper catalogs.
Nearly half of the planet’s original forest cover is gone today. Forests have effectively disappeared in 25 countries, and another 29 have lost more than 90% of their forest cover.
Deforestation contributes between 20% and 25% of all carbon pollution, causing global climate change.
More than one billion people living in extreme poverty around the world depend on forests for their livelihoods.
There are other significant environmental impacts from the catalog cycle. The production and disposal of direct mail alone consumes more energy than three million cars.
The manufacturing, distribution, collection and disposal of catalogs generates global warming gases as well as air and water pollution. Reducing the number of unwanted catalogs that are mailed will help the environment.- source is www.catalogchoice.org

Who let the dogs out?

2007-11-23T13:47:00.001-08:00

I have a German Shepherd named Molly. We adopted molly a little over 1 year ago from German Shepherd coastal rescue. One of Molly's favorite things to do is to go for walks. Sometimes I take her around the nieghborhood and sometimes I take her to Balboa Park or the Beach. Something that has been happening more and more frequently is running into dogs that are loose and without Leashes or even collars sometimes. More often than not we run into peaceful fun loving dogs that have figured out how to jump their fence. There have been times where I run into a loose pitbull or other "aggressive" breed dog to where I have to really think on my feet. Lucky for me, Molly isn't such a small dog that I don't have to fear too much for our safety, as most dogs that are loose tend to avoid us. But this wasn't always the case, I have owned a Beagle that had recently passed, and she was a very brave beagle who had been attacked because of her braveness by a loose pitbull. She survived that and lived happily for another 11 years, at the time the thought of her living past the attack was up in the air. So what do you need to know when you see a dog loose in the nieghborhood? First if you can avoid the dog, do so. If you have a cell phone handy, you should call Animal control and report the situation. Their phone number is 619-236-2341. Animal control officers will pick up the Dog and contact the owner. Most importantly be aware of your surroundings and avoid Dogs who are loose or off their leash. Keep your eyes open if you encounter a loose dog sometimes the owner isn't too far away and you might be able to catch their attention to the situation. Sometimes someone is just doing yardwork and isn't aware that Fido has decided to walk himself while they are distracted.

Current Loan Rates

2007-11-09T09:17:00.000-08:00

Hey Everyone,
One of the Lenders we work with, Dan Keys sends me the current loan rates monthly. I will post them as I recieve them along with his note's. We work with several Mortgage Brokers to ensure our clients specific needs are met. Contact me at 858-454-1123 if you need specific information as it pertains to your situation.

BRCC email regarding Holiday Moratorium

2007-11-07T17:30:00.000-08:00

I Just received this email from the BRCC:

"Tired of the Construction Activity on the Boulevard?

Want to shop and dine at your favorite

Bird Rock Stores and Restaurant

during the holidays in relative calm?

Relief is on the way!

Construction activity will stop on the Boulevard

and equipment and materials removed

from December 8 through December 26.

Traffic control will remain in place, but temporary diagonal parking will be added on the west side of the boulevard.

Please note that the holiday “moratorium” was originally scheduled for December 17 through January 1; however, through two merchant meetings and one community meeting Bird Rock agreed that having the two weeks prior to Christmas was the preferable time frame.

Don’t forget that

all Bird Rock Stores and Restaurants

are open for regular business during the construction!

On-street parking is available!

Join us for “Shop Around Bird Rock”

on Saturday, December 1.

Details in the December Bird Rock Newsletter

including shopping / dining specials!"

Bird Rock Community Council Meeting Notes

2007-11-07T12:35:00.000-08:00

The meeting was held last night at Bird Rock Elementary auditorium. The meeting started slightly late at 6:45pm and ran slightly past 8:00pm. At the beginning of the meeting Chuck Patton the president of BRCC gave an opening statement and then turned over the presentation to a council member who began discussing some of the issues with regards to the construction and some of the solutions that have been implemented. She allowed for a period of questions and answers, this ended up taking a bit longer than it looked like it was going to take originally. Most of the concerns seemed to be centered around the lack, or complete absence of notification before the contractor's started tearing up the sidewalks and blocking access to businesses. There were also some concerns about the construction equipment and staging areas in relation to the moratorium for the upcoming holiday shopping season. At one point a question was raised by a merchant that was slightly off topic and he was quickly quashed in order to save time for the next presentation.

The main presentation had to deal with the proposed pilot parking program for the village of La Jolla and surrounding residential streets. While most of the discussion and PowerPoint presentation was centered around the Village of La Jolla and not necessarily Bird Rock, the inevitable question was coming. Basically at the conclusion of the presentation the attendees were asked to consider whether a similar program should be implemented in Bird Rock to help rectify the parking inadequacies. The question and answer period at the end of meeting seemed to show that most were not in support of a similar program, there weren't many merchants in attendance but the residents seemed very concerned over several sticking points regarding the pilot program. The main sticking point was the residential area parking zone which would restrict access to only a certain number of vehicles allowed per residence. The main concerns would be that it would punish residents just as much as would punish employees or customers parking in residential areas. I will post some links to the appropriate pdf files when I gain access to them.

Housing Market Data for La Jolla

2007-11-06T11:55:00.000-08:00

We are often asked about "the Market" as it pertains to La Jolla. These are the current data figures according to REBA, Real Estate Brokers Association of La Jolla.

Reba Stats - 2007
SALES OF LA JOLLA HOUSES DURING THE MONTH OF OCTOBER

PENDING

YEAR 2004 - 27 houses Volume $51,552,000 Average Price $1,909,300

YEAR 2005 - 21 houses Volume $65,222,000 Average Price $3,105,800

YEAR 2006 - 14 houses Volume $42,209,000 Average Price $3,014,900

YEAR 2007 - 27 houses Volume $77,698,000 Average Price $2,877,700

SOLD

YEAR 2004 - 21 houses Volume $67,199,000 Average Price $3,199,900

YEAR 2005 - 17 houses Volume $42,764,000 Average Price $2,515,500

YEAR 2006 - 11 houses Volume $26,888,000 Average Price $2,444,300

YEAR 2007 - 17 houses Volume $49,038,000 Average Price $2,884,500

SALES OF LA JOLLA CONDOMINIUMS DURING THE MONTH OF OCTOBER

PENDING

YEAR 2004 - 26 condos Volume $27,511,000 Average Price $1,058,100

YEAR 2005 - 20condos Volume $17,118,000 Average Price $ 855,900

YEAR 2006 - 24 condos Volume $24,111,000 Average Price $ 1,004,600

YEAR 2007 - 13 condos Volume $15,156,000 Average Price $ 1,165.800

SOLD

YEAR 2004 - 17 condos Volume $16,084,000 Average Price $ 946,100

YEAR 2005 - 14 condos Volume $15,285,000 Average Price $1,091,700

YEAR 2006 - 15 condos Volume $17,700,000 Average Price $1,180,000

YEAR 2007 - 14 condos Volume $11,453,000 Average Price $ 818.000

REBA: October 31, 2007

Bird Rock Community Council Meeting Tonight!

2007-11-06T11:50:00.000-08:00

I recieved this email last night. I will attend and post follow-up notes tomoorrow.

"Please note there are two items on the agenda of interest to the merchants…
BRCC
Regular Monthly Community Meeting
Tuesday, November 6, 6:30 pm
Bird Rock Elementary Auditorium

Draft Agenda

1. Public Comment
2. Brief Announcements and Updates
3. Meet the Board Candidates
4. Boulevard Construction Holiday MoratoriumProposal to change dates from “Dec 17 to Jan 1” to “Dec 10 to Dec 26”
5. Parking Discussion
a. Learn about the La Jolla Community Parking DistrictWhat is it? What is Bird Rock’s role?
b. Hear about the LJCPD’s “Pilot Parking Program”Potential vote coming up November 14.
c. Discuss Parking in Bird Rock, what’s next after Traffic Calming?
Brief Presentation and Open Discussion:
Do we have parking issues?
How does it affect merchants and residents?
Do we need a management plan"

Letter from the Broker

2007-11-05T14:32:00.000-08:00

Welcome to Pace Realty, thank you for visiting our Blog. I am excited about the opportunity to meet you! The Pace Companies were established 1969 some (39) years ago and since then we have served and earned a distinctive reputation for market intelligence within the San Diego area. Our service is based on a family owned and operated company. We maintain a special focus on the La Jolla, Beach area's, and surrounding area markets and pride ourselves in being able to give our clients an in-depth feel about local neighborhood dynamics and qualities. We also have an emphases in Investment Properties with a Property Management Department Team always at your service. We are enthusiastic about the Pace Realty Blog and feel it will be an attractive venue for developing new, value-added relationships with our clients. The Pace Company has a philosophy of going beyond "just the transaction," to support our clients; we are keenly committed to matching your individual needs and investment objectives to the right property and location. We also strive to make connections between our clients and our network of local business services and amenities. We can help you find preferred neighborhood service providers, from mortgage services to building contractors, as well as recommendations about local shopping or fitness/health services, restaurants or schools and day-care services. You may see our website for links to area maps, school performance statistics, and our area demographics and crime statistics at: http://www.internet-realty.com/ We feel that our service and knowledge is valuable to you and your real estate goals. We see this as one of the GREAT ways The Pace Company through it's perennial (39) years of service, can show you how we value you and appreciate your business! Please contact us at the email or number listed above with any questions, comments, concerns or interest and I will reply promptly. I look forward to making the sale or purchase of your home or Investment property an enjoyable and rewarding experience! Yours in success, TL Pace, Realtor-Broker Owner

Rental spotlight

2007-10-31T12:08:00.000-07:00

written by: Joe Pace 10/31

Happy Halloween everyone! I plan to take time every week or so to point out a few rental properties we manage that have vacancies. We have been getting quite a few calls and visits to these properties so there is no guarantee that they will still be available when you find this, but I will post them just in case they are.

#1 3859 Riviera Dr. San Diego, Ca 92109 $3200 per month (Pacific Beach)

This is a well maintained nicely sized, single level, downstairs 4 bedroom 2 bathroom unit that is just across the street from mission bay. It has peek bay views from the front facing rooms and balcony. The Unit has a fireplace, nice sized kitchen, Den, Livingroom, Balcony, on-site Laundry, storage room for bikes and beach equipment, and 4 off street parking spaces with alley access.

#2 Greene st. San Diego, CA 92107 (Ocean Beach) $2495 per month

Call for Address, in order to provide a quiet atmosphere for the tenants in the rear house we ask that you call first and provide your information, before we release the address. 858-454-3841

This is a convienantly located 3 bedroom 2 bath house, with onsite laundry hook-ups, 1 car garage plus off street parking. It also has a front and side patio areas. This house allows pets for additional rent and security deposit. It is only a few blocks from Beaches, parks, shopping, and Freeways.

On all Rental Properties we ask that you call our rental line which has all current vacancies along with their availability, and leave a message. I will gat back with you as soon as possible to schedule a showing.
rental line: 858-454-3841

Lending Difficulties, and what should you do now?

2007-10-29T15:39:00.000-07:00

As I am sure you are well aware there is a massive credit crunch going on nationally that is making things more difficult for the real estate industry. I am going to take a few moments to analyse how these recent developments could affect you and what steps you should be taking now to prepare for where you want to be. The most common difficulty that is affecting my clients currently is the lack of lender's that are still processing or offering "No Doc", or "Low Doc", and "stated income" loans. We never knew how good we had it, it wasn't too long ago that it was pretty easy in securing financing as long as our clients had great credit and the means to make the payments. It couldn't last forever, now because of several abuses of this convenient way of financing, through several phases of the lending spectrum, lender's are tightening or even eliminating these programs. It has also been observed that lender's are basically discouraging these loans by making the interest rate, down payment, and other factors much harder to achieve. Self employed clients of mine are also having to jump through more hoops in order to get a desirable loan, in some cases I am getting reports that lender's are requiring 5 years of self employment history, it used to be 2 years. Most Brokers that I have spoken with are claiming that this is very similar to the lending standards that were in place about 10 years ago and that they believe this should be the case for at least another year. To top it all off, jumbo loans (anything currently above $417,000) are getting to become obsolete as well. So is this "Doom and Gloom" for everyone except the top 10% in income? In my opinion, it is definitely harder but it isn't impossible. I think it is now more important than ever to be working hand in hand with a qualified Mortgage Broker when securing financing. This will allow them to find more than one source for loans and possibly a solution for the goal you are trying to achieve in the best way possible. Now more than ever a sizable down payment, good credit, and small debt to income ratio are essential to get the best financing. If these pieces are missing, it's imperative to have a plan in place to achieve these goals. All over the US people are taking advantage of the Buyer's market and at some point in the near future we could be saying as we have said before, "I wish I would've bought when it was a buyer's market". I can't tell you how many times I have heard that over the past 5 years. Even if you feel that your current situation doesn't bode well for getting a desirable loan, contact me so that we can get your file setup appropriately, and set realistic goals that are time efficient. The hope in doing this would be to put yourself in the best buying opportunity and position while the market allows for this.

Contact me today,
Joe Pace
858-454-1123

New Baby

2007-10-27T16:18:00.000-07:00

Baby Noah Pace

Born: October 20, 2007

Weight: 9lbs. 1oz.

Well, this is my first attempt at a new blog that I have started to try and have a 24/7 connection with my clients. This is where I hope to frequently update about new and interesting things that are unique about my life. Hopefully it will also allow me to learn more about my clients and friends as well.

So I recently had my fourth child. He was a surprise baby and we couldn't be more happy now that he is here. First of all he was born completely natural and healthy and everything checked out OK. We were concerned because our last child, Olivia, initially failed the Biliruben test when she was born and we were stuck in the hospital for 6 days until she finally passed. Noah was born with the same blood type as me which is different than Jenny's. Fortunately Noah did not have the same reaction and we were cleared to go home within 24hrs. Now that he is home he is doing great as of today 10/27/07 his remnants of the umbilical chord is barely hanging on. He reminds me of my first Child Anthony, he is very strong and is constantly moving, he can move around pretty good already so you have to hold him securely. The biggest difference so far is he is much chunkier, he is our heaviest baby by far. Well, this is the first of many posts to come and if you should need any real estate / property management advise or help be sure to email me: joe@internet-realty.com or call me at my office 858-454-1123