Finding The Right San Diego Neighborhood

Finding The Right San Diego Neighborhood

There are many factors to consider when you are searching for a home in San Diego. You’ll want to find a home that has enough space to allow you to grow while still matching your taste and budget.

One aspect about your home that you should not overlook is location. A perfect house in the wrong neighborhood will lead to regret and disappointment. A key selling factor used by real estate agents is location. These agents understand that location counts for more than the size and style of the house. A smaller house in the right San Diego neighborhood is better than a slightly larger house in the wrong location. This can be challenging, however, since everyone has their own opinion on what a good neighborhood really is.

There are a number of prime locations that you should consider depending on your budget and your idea of the right kind of neighborhood. 

Cost of living

Take into consideration the cost of living in different neighborhoods. In some areas, the government charges more for property tax than other parts of town. Some San Diego cities also have Mello-Roos fees that are due yearly in addition to property taxes. Building laws in particular neighborhoods may also increase the cost of remodeling your house.

Schools

It is important to consider the availability of good schools and colleges if you have children or if you are planning to start a family. You can do some quick online research on the availability and standards of schools and colleges in different neighborhoods and also ask your agent for any feedback he has heard about schools in various areas.

Transportation

Transportation should be one of the things that is at the top of your list when you are searching for the right San Diego neighborhood. The distance from your house to the office and the city center where important amenities are located should be considered. If you drive your options will be more open, but if you rely on public transportation, your options will be reduced depending on the availability of transportation.

Amenities

Availability of amenities like shopping malls, entertainment facilities and restaurants is important. You can take a drive around different neighborhoods and see for yourself some of the social amenities provided. It is a good idea to purchase property that is in close proximity to your favorite places.

Safety

The general safety of a neighborhood is very important. You can go through police websites for statistics on crime and other safety indicators for different locations. Do not buy property in crime prone areas regardless of how attractive a home may seem. The safety of your family comes first.

The neighborhood that is going to be right for you and your family will be based on numerous factors. Make sure that you explain to your real estate agent exactly what kind of area you think is right and take any suggestions they make to heart. You’ll be able to make a better-informed decision once you learn everything you can about the various neighborhoods in San Diego.

When searching for San Diego Homes for sale or San Diego Condos for sale, do not hesitate to contact our team. 

Attorney Generals To Investigate Foreclosure Process

Officials in 49 of our 50 states and the District of Columbia have launched a joint investigation in the allegations that documents involved in the foreclosure process were mishandled in the foreclosures of thousands of homes throughout the US. During their investigation, the attorneys general will be verifying whether documentation was incorrectly handled and/or false statements were made. Alabama is the only state that has not joined the investigation.

In a joint statement, the officials said they would review evidence that legal documents were signed by mortgage company employees who “did not have personal knowledge of the facts asserted in the documents.” They also said that many of those documents appear to have been signed without a notary public witnessing that signature — a violation of most state laws.

This all comes on the heels of the announcements made by many of the larger lenders that they are currently freezing foreclosures in many if not all states. Currently Ally Financial's GMAC Mortgage Unit, Bank of America and JPMorgan Chase have announced the foreclosure freeze, along with many other smaller servicers.

Wells Fargo, CitiGroup and Litton Loan Servicing have all said that they are not halting any of their foreclosures, but are conducting reviews of their process and making modifications as needed. A spokesman for Wells Fargo, one of the nation's largest loan servicers, said the bank is conducting additional reviews of documents, but is not freezing foreclosures. Litton said in a statement that it "has suspended foreclosure proceedings in certain cases while it completes a review of its procedures."

Ally Financial (previously GMAC), announced Tuesday that they have hired outside accounting and legal firms to review their foreclosure procedures in all 50 states. They have said they will be reviewing the overall process, not individual cases. They have also said they will review pending foreclosure sales to ensure that all documents are accurate while continuing to temporarily suspend evictions and post foreclosure proceedings in 23 states.

Bank of America is the only bank that has halted foreclosures in all 50 states. The other banks have only halted in the 23 states that require a judge to sign off on the foreclosure. Because of this, California home owners will see little affect of the foreclosure freeze. We are hopeful that this will further help to entice the banks to move forward with their short sale approvals while going through this review process.

If you are facing foreclosure or have any questions regarding a short sale and the foreclosure process, please do not hesitate to contact our team.

Banks Expanding Haults On Foreclosures

Three of the largest mortgage lenders have announced that they are halting foreclosures in the 23 states that go through the judicial process of foreclosure and require a judge's signature in to complete the foreclosure.  In the other 27 states, foreclosures were continuing as normal. 

On Friday, Bank of America announced that were expanding their hold on foreclosures to all 50 states and today (Monday) Chase announced that they were also expanding their review to include states that do not require a judicial foreclosure.

The 23 original states affected were:

1. Connecticut
2. Delaware
3. Florida
4. Illinois
5. Indiana
6. Iowa
7. Kansas
8. Kentucky
9. Louisiana
10. Maine
11. Maryland
12. Massachusetts
13. New Jersey
14. New Mexico
15. New York
16. North Dakota
17. Ohio
18. Oklahoma
19. Pennsylvania
20. South Carolina
21. South Dakota
22. Vermont
23. Wisconsin

While the banks have announced they are halting foreclosures, they will continue with the foreclosure process during the review process.  The purpose of their review is to make sure they were in compliance with all document reviews required for foreclosure.

The initial review was announced after the lender discovered that its employees may have signed affidavits on the basis of reviews done by other personnel.

"We have been assessing our existing processes," Bank of America said in a statement. "To be certain affidavits have followed the correct procedures, Bank of America will delay the process in order to amend all affidavits in foreclosure cases that have not yet gone to judgment in the 23 states where courts have jurisdiction over foreclosures."

Not all banks have halted their foreclosures.  Citigroup, a big player in mortgage lending said it is making no changes in its foreclosure procedures. "At this point, we have no reason to believe our employees haven't been following our procedures, so we do not believe a suspension is necessary," spokesman Mark Rodgers said in an e-mailed statement.

In addition to putting a halt on all pending foreclosures, the big 3 have also put a halt on any pending sales of properties they have already foreclosed on.  They are waving off Fannie Mae from selling any of the foreclosed homes whose loans they sold to Fannie. PNC Financial Services Group also announced that they are suspending sales of foreclosed homes on Friday,

How is this going to affect short sales?  We're not sure yet, but feel that if the banks know that they are going to have an indefinite freeze on all foreclosures, it will give them extra motivation to get the short sales approved and off of their books. 

If you have any questions regarding a short sale or foreclosure, please do not hesitate to contact our team. We specialize in San Diego Short Sales and Orange County Short Sales.