Category: San Diego

San Diego Real Estate

Majorly Awesome Monday!

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The beaches are open in Del Mar again!

Good Monday morning from Del Mar California! It’s a great day and going to be a most excellent week.

I’d love to hear what’s good in your world …

One of the best things of my day, is going to be finally being allowed to go to walk on the beach. Despite the fact that we live 2 blocks from the edge of the world (and the Pacific Ocean), the powers that be (used to be?) have been keeping us from walking on the beach, swimming in the ocean and even going to to cliffs to watch sunsets. After a lot of political BS, this has been lifted and as of today, we can once again go to the beach in Del Mar.

522 Stratford Court in Del Mar, listed at $14,995,000

BTW – if you are in the market for a home in Del Mar, there is a nice, new one right above the cliff (and behind where we go for sunsets) that was just relisted with Brett Combs of Compass Real Estate for a cool $15 million (it was formerly listed with Barry Estates at the same price). Here’s the link to the Zillow info for 522 Stratford Court in Del Mar.

Bill Gates Busy During Quarantine – Buys Oceanfront Del Mar Estate for $43 Million

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The beachside patio at Bill Gates' new Del Mar compound
The beachside patio at Bill Gates’ new Del Mar compound

Besides being interviewed on every mainstream propaganda television show about his plan for world domination through mandatory global vaccinations (most likely to come from one or more of the 7 different Gates funded labs), Bill Gates has not let the quarantine for the less than Billionaire set, slow him down. According to a story at Local Business Scoop, Bill Gates has purchased a $43 Million Dollar Beachfront Compound in Del Mar.

Rents Already Dropping Like a Rock, Home Values to Follow

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According to an article posted the other day on the Los Angeles Fox 11 newsite at FoxLA.com, rents are already dropping in the Los Angeles region due to the effects of the Corona Virus or Covid-19. Over two weeks ago, shortly after the first stay at home order, I predicted that both rents and property values would be dropping very quickly.

The last line in their article is extremely telling:

“But for now, if your rent is not going down, you may want to talk to your landlord or look around for a better deal, because you may get it.”

Over 10 days ago, I wrote my first email asking a landlord for either a suspension of rent or a reduced rate. They came back with a “COVID-19 Hardship Consideration” form, which was obviously drawn up by the attorneys for the Southern California Rental Housing Association (and revised or drawn up, the same day 3/31/20).

This Covid-19 Hardship Consideration form, makes zero concessions except for considering to provide ‘accommodations’ for reduced rent until the eviction moratorium is lifted at which time the full amount of the rent would be due or the tenant would face eviction. They fail to recognize that due to the Stay at Home Order, many people have lost their entire incomes and in many cases, their jobs.

What landlords need to realize is that their properties are not worth the rental income they were getting even one month ago …

They are going to be finding very quickly that they will not be able to continue to charge rents like they were in 2019 and beyond. Rents will be dropping FAST and landlords should be contacting their lending institutions to get their payments deferred or contracts renegotiated. Some may choose to walk away. Many will be hearing from their tenants who will be choosing to do the same.

If you are a tenant or a landlord who needs help negotiating and coming up with creative, mutually beneficial ways to get through this crisis and stay in your home, please give me a call. I can – and want to, help.

We Buy Fugly Houses Seeks Distressed Properties in San Diego County

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We Buy Fugly Houses buys distressed properties all over San Diego County!

We Buy Fugly Houses are actively We Buy Fugly Houses San Diegolooking for homes that need to be repaired, remodeled, finished, completed.  San Diego houses, condos, apartments, duplexes, tri-plexes, multiple units and more.

We Buy Fugly Houses specializes in San Diego investment properties where we can add immediate value with additional capital, sweat equity, quality low cost contractors and bulk materials purchasing.  We help home sellers get out of bad situations with fast, fair cash offers – and we help beautify neighborhoods around San Diego by fixing and rehabbing distressed properties and making them beautiful and updated.

We Buy Fugly Houses has money to invest – to get a fast, all-cash offer on your San Diego property call Joe today:  We Buy Fugly Houses 858.262.0944.

SiteGround is the Web Host of Choice for AAA Properties of San Diego

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SiteGround Web HostingAAA Properties San Diego and AAAProperties.net is now being hosted by SiteGround web hosting.

We were with Hostgator for many years, but they really let us down. Really let us – and our clients, down – as in our site was constantly down.  But not with SiteGround web hosting.

With SiteGround we can better serve all the clients of We Buy Fugly Houses, A New Day Real Estate, Del Mar Villas, One Paseo Real EstateSan Diego Real Estate and our other real estate businesses.

Thank you very much for visiting AAA Properties.

Del Mar Investment Firm Cazador Acquires More Multifamily Properties in San Diego

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Cazador Investments San Diego aerialAccording to a post at SanDiegoRealEstate.re, Del Mar – based Cazador Investments, LLC has closed on five separate acquisitions across San Diego County in the last nine months, totaling 44 multifamily units and 4 commercial spaces in several desirable submarkets. Hunter Beaumont, President of Cazador, comments, “These acquisitions were each situational opportunities where we could get into strong value-add candidates in attractive areas and at a great basis. Discount to replacement cost is one of our most important metrics, and these assets were all acquired at a substantial discount to what it would cost to build them today.”

The five assets range between 3 and 22 units 

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Nomad Temporary Housing Achieves Highest Average Survey Scores in the 15th Annual 2017 Relocation Managers’ Survey

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Nomad Temporary HousingTrippel Survey & Research, LLC conducted its fifteenth annual survey to obtain evaluations from corporate relocation managers regarding their level of satisfaction with temporary housing service providers.

For the second year in a row, Nomad Temporary Housing achieved the highest average survey score, rating higher than all other national and regional temporary housing brands. Nomad is also the only brand with all survey scores in the 8 – 10 range, on a scale of 1 – 10. In addition, Nomad has also scored at the top of the Trippel survey in Net Satisfaction for 2016 and 2015. Read More

Virtua High Growth Fund Completes Sale of Kentucky Apartment Interest

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Virtua High Growth Fund (VHGF) has completed the sale of its interest in Patchen Oaks Apartments, a 192 unit apartment complex located in Lexington, Kentucky.VirtuaPartners logo

In March 2016, VHGF purchased a minority interest in the Patchen Oaks property based on an equity valuation of $1,066,428.  The apartment project was sold on April 20th with net proceeds of $4,812,188, which represents a fund level return of 317% IRR, or approximately 4.5X multiple.

“This is a strong return for our investors, even after adjusting for risk,” commented Virtua principal Quinn Palomino. “The Patchen Oaks investment is part of our high growth series of funds and syndications, which are designed to produce capital gains for our investors.” Read More

Santa Rosa Apartments in Wildomar Sells to MG Properties Group for $74.5M

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MG Properties Group San DiegoMG Properties Group, a private San Diego-based real estate investor and operator, recently announced the acquisition of the Santa Rosa Apartments in Wildomar, California.

Built in 2008, Santa Rosa offers 320 luxury apartment homes in a desirable low density two-story walk-up design. Santa Rosa is adjacent to the Inland Valley Medical Center, Kaiser Permanente, and Southern California Edison’s regional service center, and is close to shopping, Interstates 15 and 215, and a future 80-acre community college campus. The property offers an optimal mix of large one-, two- and three-bedroom floorplans that average approximately 1,000 square feet of living space and feature a garage for each apartment home.  MG Properties Group plans to perform modest interior renovations and to refresh the property’s common areas.  Read More

Before Selling Your Bellevue Home Check Out These Tips

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You must be familiar with the market if you’re going to sell your Bellevue home. There is a ton of information out there. Most people don’t have time to go over everything.This article offers several practical and effective tips that will help you make the best decisions regarding your real estate choices.

If you install energy star rated items, motion detecting lights, LED bulbs, and solar motion lights outdoors, you might be able to lure in buyers with the promise of significant energy savings over time.

When you are staging your Bellevue home for viewings, try to empty out the home as much as you possibly can, even if you are still living in the home.

Just doing small updates to your kitchen you can make people want to buy your Bellevue home.You may want to think about updating one appliance with a high-end option and make a huge change to the look. Instead of getting new kitchen cabinets, consider giving them a fresh coat of paint.

For example, have the repair records for work done on your home, as well any improvements you have made.This list will show the buyer a good idea about the kind of care that was put into the home during your ownership.

A bidding fight could really be just what you out. Set a price in an effort to entice potential buyers to view the property. A bidding war between multiple buyers could result in a high selling price for you.

A welcoming Bellevue home that looks inviting one. It can make a positive effect on the number of potential buyers who tour your home when you have showings.

Negotiation is a part in almost every real estate deals. If you wish to sell your house fast, and you want to sell quickly, be flexible in your mindset. If you’re not quickly trying to sell your house, wait for an offer you’re comfortable with.

Take away the home if you just want people to go ahead and let themselves there. You can do this by just simply getting rid of family pictures and mementos. Buyers want to see their own family in the house; this is much easier to do when your personal items are hidden from view.

Get rid of clutter if you want potential buyers to find your home appealing.

Potential buyers love to see how much natural light can be from just sunlight. Lift the blinds and pull back the drapes or curtains. If the weather is okay, you can open your windows to give your home fresh air that really appeals to potential buyers.

New flooring is pricey and you won’t be the one using it.Instead, thoroughly clean them and make any necessary repairs, mindful to fix up any trouble spots that might put buyers off.

Use the negative comments you received so you can figure out things that need to be changed, which may help make your house easier to sell.

New investors generally don’t learn common mistakes the easy way that there can be downsides to the real estate game.

Take into account that selling your property can have some impact on your personal life. You may be subjected to people stopping by without an appointment, frequent telephone inquiries, plus having to work around showings and open houses.

When it’s time to draw up the listing contract with your agent, try to consider the price you will sell at and the conditions. You may want to include your property’s fixtures and fittings in your asking price in order to make the price more interest.You may want to also clearly note which items will take with you so they do not expect it to be there when they move in. All of these sale factors must be clearly to avoid any possible misunderstandings.

The information presented here should prove to be useful in your upcoming sales transactions. Identify the tidbits that are useful to you and use them to inform your sales. Despite all the time you must devote to doing your homework before you sell any real estate, it is indeed well worth your while.

Joe Kennedy
A New Day Real Estate