Thursday, June 28, 2012
Cedros Design District in Solana Beach is a vibrant and unique street in Coastal Solana Beach. Located near the Amtrak station, and 2 blocks from Fletcher Cove - there is always some great event ongoing! This Saturday, Carruth Cellars is holding their Third Annual Bottling Party.
See below for more info!
JUNE 30 & JULY 1st - 11am to 6pm
We will be bottling 2900 bottles of wine over two days. We have live entertainment each day, a food truck, wine by the glass of our newest Solana Beach Red Tide Table Wine. On Saturday, June 30th, SURFING MADONNA ARTIST MARK PATTERSON will be on hand to sign bottles of the latest vintage of The Surfing Madonna Bordeaux Blend. $3 of each bottle sale will benefit the Surfing Madonna Oceans Project. Ticket Price Includes: a bottle of SOLANA BEACH RED TIDE TABLE WINE right off the line, a Glass of The Red Tide Wine at the winery, live entertainment, a $5.00 voucher for the MIHO or Flippin Pizza food trucks and a 6 bottle wine tote bag.
Purchase Tickets Online at LocalWineEvents.com or Call 8585.847.9463 (WINE)
Tuesday, June 26, 2012
At Roth | Patterson, we welcome the opportunity to assist our clients with any of their real estate needs. It is truly satisfying when we get the excellent feedback from them as below!
"My husband and I recently located to La Jolla, CA from the East coast. Working with Cooper Patterson was a pleasure and made for a smooth and easy home purchasing process. As we were uncertain as to what neighborhood and community we wanted to settle in, we set expectations high for our agent. Cooper was always available, and definitely exhibited complete dedication to us as his clients. When we finally found our dream home, Cooper was a tenacious negotiator and got us an excellent deal. Even after the close of escrow, Cooper’s customer service and follow up continued as he provided us with his additional expertise in referring local professionals to assist with our projects. We highly recommend Cooper and his team at Roth | Patterson!"
Friday, June 22, 2012
See below for a sneak peak at our just published June Newsletter!
June's edition featuring market trends for La Jolla, as well as a great upcoming Encinitas community event and helpful household Tips, Tricks, and Trends!
See more HERE!
Trends, Tips, & Tricks
Trends - Check out Pinterest for current trends and ideas for great summer BBQ's.
Tips - White distilled vinegar is a popular household cleanser, effective for killing most mold, bacteria, and germs.
Tricks - At a party, stash ice in a colander set on top of a bucket or a bowl. Water will drain out, and guests will only get the solid pieces.
Wednesday, June 20, 2012
Looking for something to do this weekend? La Jolla is the spot to be with the upcoming La Jolla Festival of the Arts. Check it out, then take a stroll at Torrey Pines!
The La Jolla Festival of the Arts™, takes place on June 23rd & 24th on the beautiful coastal campus of UC San Diego at Warren Field. The “La Jolla” is one of the most prestigious juried art shows in the country and will once again feature over 190-award winning artists, along with live chalk art creations, art performances, delicious and healthy cuisines, adult beverage libations, and live entertainment throughout the weekend.
The Festival is produced by the Torrey Pines Kiwanis, a non-profit organization that raises funds to support adaptive sports and recreation programs for San Diegans with disabilities. This year’s festival will also benefit Sharp Rehabilitation Services. The Festival is a unique opportunity to combine support for adaptive programs and services that help those who have incurred serious and long term injuries, and artists who work hard to bring creativity and imagination to us every day. Take the opportunity to help support your community, meet special people and enjoy a wonderful day of fun and excitement!
Monday, June 18, 2012
California housing market continues to post strong gains in May, home sales rise to highest level in more than three years; low inventory a critical issue
LOS ANGELES (June 15) – California’s housing market continued to improve in May, with home prices posting solid gains for the third straight month and home sales well above last year’s pace, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
“California home sales were strong in May, continuing the gradual recovery of the California housing market,” said C.A.R. President LeFrancis Arnold. “First-time buyers are recognizing that the housing market has hit bottom and are now seeing a sense of urgency to take advantage of ultra-low interest rates and advantageous home prices. Additionally, trade-up buyers are returning to the market after sitting it out for the past few years to get in on favorable home prices.”
Closed escrow sales of existing, single-family detached homes in California climbed 3.4 percent from April’s revised 553,670 to a seasonally adjusted annualized rate of 572,260 in May, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. May sales surged 21.5 percent from May 2011’s revised 470,910 pace, marking the highest year-over-year sales increase since May 2009. The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the May pace throughout the year and is adjusted to account for seasonal factors that typically influence home sales.
The May 2012 sales pace was the highest since February 2009, when 598,770 homes were sold at a seasonally adjusted annualized rate.
Home prices appear to be stabilizing, with the median home price posting both month-over-month and year-over-year gains for the third consecutive month. The statewide median price of an existing, single-family detached home was $312,110 in May, the highest since September 2010.
May’s price was up 1 percent from a revised $309,050 in April and 6.6 percent from a revised $292,850 recorded in May 2011. The May 2012 figure was 27.3 percent higher than the cyclical bottom of $245,230 reached in February 2009. The median price has posted above the $300,000 level for the second straight month after remaining below that mark for 15 months.
The increase in the median price can be attributed to the strong sales increase in the higher-priced coastal regions, particularly in the San Francisco Bay Area, where job growth is strong and the economy is growing faster than other areas of the state.
California’s housing inventory sank lower in May, with the Unsold Inventory Index for existing, single-family detached homes dropping to 3.5 months in May, down from 4.2 months in April. May’s housing inventory was down from a revised 5.7 months in May 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A 7-month supply is considered normal.
“Low housing inventory continues to be the critical issue in the California market,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Inventory levels have not been this low since December 2005, when the supply matched the current level. The Bay Area has the greatest shortage of homes for sale, with inventory levels in the two- to three-month range for Santa Clara, San Mateo, Alameda, and Contra Costa counties.”
Interest rates continued their downward trend in May, with 30-year fixed-mortgage interest rates averaging 3.80 percent, down from 3.91 percent in April and 4.64 percent in May 2011, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.74 percent in May, down from 2.78 in April and 3.13 percent in May 2011.
Homes are moving faster on the market with the median number of days it takes to sell a single-family home dropping to 46.6 days in May, down from a revised 48.9 days in April and 52.0 days in May 2011.
Friday, June 15, 2012
Craftsman Exterior with Modern Interior
June 16 & 17 from 1:00 - 4:00
Thursday, June 14, 2012
Solana Beach is an excellent coastal community in North San Diego County. Family friendly, and with an artist vibe - there is always something to do! One of our favorite is upcoming end of this month. . . Concerts at the Cove! Check it out HERE! We look forward to seeing you there!
Tuesday, June 12, 2012
It’s no secret to anyone who has watched the real-estate market over the past year that the number of homes for sale has dropped sharply, especially in hard-hit markets such as Miami, Orlando and Phoenix.
Economists at CoreLogic have new evidence showing how big price declines are keeping many home sellers on the sidelines. They found that the supply of homes for sale declines as the rate of negative equity — or the share of borrowers who owe more than their homes are worth — rises.
Markets where more than half of all borrowers were underwater had enough inventory to last 4.7 months at the current rate of sales in April, below the national average of 6.5 months. Meanwhile, markets where fewer than 10% of borrowers were underwater had 8.3 months of supply.
“The presence of negative equity not only drives foreclosures, reduces the availability of purchase down payments and impedes refinances, but also restricts the ability of owners to list their homes for sale as the demand side of the market improves,” wrote Sam Khater, a senior economist at CoreLogic.
This helps explain not only big inventory drops in markets that are feared to have large numbers of potential foreclosures — the feared “shadow inventory” — but it also sheds light on why prices are rising at the bottom end of the market. Negative equity is more pervasive at the low end, which suffered bigger price declines, and so the supply is also tighter.
This “can’t sell” cohort of homeowners isn’t the only reason inventory is low. Many hard-hit markets have seen an influx of well-funded investors scooping up foreclosures that can be rented out, meaning inventory is being taken off the market, at least for now.
Meanwhile, banks have sharply slowed down their foreclosure processes after being caught fraudulently processing the paperwork required to take back those properties two years ago.
And even homeowners with equity may be unwilling to sell at today’s lower prices. This is particularly true of borrowers with less than 10% home equity, who may be depending on that cash to pay their real-estate agent and to fund a down payment and closing costs for their next home purchase.
Check out the original article HERE!
Thursday, June 07, 2012
One of the biggest and most anticipated events in San Diego County at summer time is here! Opening this Friday, SD County Fair is back!
June 8 – July 4
San Diego County Fair
Flower and garden shows, exhibits, art, gems & minerals, carnival rides, food booths, midway, and concerts. This year’s theme will be “Out of this World.” We’ll be exploring outer space!
Time: Closed Mondays except July 4th, see website for more details
Location: Del Mar Fairgrounds, 2260 Jimmy Durante Blvd, Del Mar
Tuesday, June 05, 2012
Del Mar is a picturesque coastal community in north San Diego County. It is always a great time to experience the many restaurants, shops, and scenery Del Mar offers! Upcoming in June is the annual Summer Solstice Event - check it out below for more info. How can you go wrong with live music and great food?! See you there!