Now may be the time to grab one of those luxury homes you’ve been watching. The price of luxury homes varies from market to market. In some, it could be $700,000 and others over $2 million. In the San Diego luxury home market, we see luxury homes priced north of $2 million languishing on the market a little longer than ones priced below that number. On the other hand, that…
by Roberta Murphy Would you believe that Swiss homeowners are sitting on a “mountain of debt” and that the Swiss National Bank claims that mortgage credit now represents 103.6 percent of Switzerland’s Gross Domestic Product or GDP? The Swiss are only outdone by the Netherlands with 107.1, according to SwissInfo, who also report that other heavy debtors include the United States at 76.5 percent and Spain at 64. The…
by Roberta Murphy Years ago, when we put our first home on the market, I insisted that the Realtor put NO SIGN in our yard. I did not want neighbors to know that we were selling or cause any disruption in our neighborhood. Our agent tried to explain the importance of a sign, but I was the incalcitrant client–and we ended up selling the home with NO SIGN. This of…
by Roberta Murphy At San Diego Previews, we deal with a number of people who are relocating to the San Diego area. They may be from from the East Coast, the desert, Bay area, Midwest or Europe, but all have pretty specific ideas about the lifestyle they anticipate in sunny Southern California. Many of these seekers are seasoned and affluent home buyers–ones who can be pretty specific about the features…
by Scott Murphy $57 Million as a sales price for a Hong Kong apartment? That’s a price that would make the most expensive areas around the world such as San Diego, Los Angeles, New York and even London cringe. This five-bedroom, 6158 square foot luxury duplex suite located at one of Hong Kong’s most prestigious addresses was bought by an unidentified Chinese buyer. And if you think that is…
The move from a luxury home can be a daunting one–especially when grand pianos, snooker tables and valuable art need to be both carefully packed, insured and moved into new abodes. One of our readers, Kirstie Birkewitz, is not only a writer, but co-owner of a careful moving company in San Diego–and has some excellent tips for luxury home relocation Specialists are needed to make the event a success! Moving…
by Roberta Murphy According to Forbes.com, now may be the best time to make some of those major purchases wise shoppers have been putting off for so long, particularly if one has the luxury of capital. The Forbes list: 1. Homes. Low prices fueled by foreclosures and short sales, coupled with low interest rates and possible income tax credits, make this an opportune time to shop real estate. 2. Cars….
by Roberta Murphy It’s a sad fact of life, but unscrupulous vultures are always ready to pick at the flesh of the most financially distressed–which more frequently these days includes the owners of luxury real estate. Over on our San Diego real estate blog we report that San Diego County District Attorney Bonnie Dumanis is asking San Diego Realtors to help her track down and prosecute real estate fraudsters operating…
by Roberta Murphy We now have the chance to read through the recent Stimulus/Spending Bill that was passed largely unread by our Congress. The earmarks and pork anger many, but there is good news on the real estate front: Owners of second homes and other real estate investments will now be able to refinance their mortgage loans if they are guaranteed or held by either FannieMae or FreddieMac–and if the…
by Roberta Murphy One Can Modify Luxury Home Loans, too? Not all clients took my conservative mortgage advice over the years, and some ended up with home loans that have turned downright nasty. In one case, a client and dear friend was persuaded to take out a Negative Amortizing Adjustable Rate Mortgage (Neg Am) along with a HELOC (Home Equity Line of Credit) a few weeks after the purchase of…
