News today

http://money.cnn.com/2008/07/30/news/economy/housing_bill_Bush/index.htm?cnn=yes

http://money.cnn.com/2008/07/26/real_estate/housing_rescue_guide/index.htm?postversion=2008072803

Chanteclair in 4S ranch

Phase 3B

Lot 505: 680K

Lot 511: 684K

Lot 512：713K

Lot 507: 673K (3025)

Lot 509: 665K (3025)

Lot 513: 711K (3025)

Lot 538： 677K (3025)

Lot 506: 668K (3080)

Lot 508: 674K (3080)

Lot 510: 681K (3281)

Lot 514: 702K (3080)

Lot 539: 689K (3281)

Lot 505 to 511 backed on school. 513 and 514 have views (on top of the school).

Solar Water Heaters Now Required in Hawaii

I think San Diego should do the same thing. Let's see...

Hawaii is the first state to pass a law requiring that new homes have solar hot water heaters, beginning in 2010.

Hawaii relies totally on imported fossil fuels. This is a first step toward eliminating this dependence.

The new law prohibits issuing building permits for single-family homes that do not have solar water heaters. Some exceptions will be allowed, such as forested areas where there are low rates of sunshine.

Opponents say the law will drive up the cost of already pricey housing.

Short Sales vs. REOs

With the real estate market changing, we're seeing an increase in sellers who want or need to sell their property because they can't make their mortgage payments. Many of them will be facing possible foreclosure. As a buyer, you may see or hear the words, "Short Sale," and "REO," quite often. What is the difference, and is there a benefit to buying one or the other?

First, a short sale happens when a homeowner wants to sell their home, but owes more than what the house can sell for. For example, let's say a homeowner has a $400,000 mortgage on their home but can now only sell the home for $350,000. If they sell the home for $350,000, they'll have to still come up with the extra $50,000 that they owe the bank to pay back the full amount of the mortgage. If they don't have $50,000, and if they don't have other assets available, they may ask the bank if they can come up "short" on what they owe, and pay the bank $350,000, having the bank "forgive" the other $50,000. Sounds good, right? Well, first, they don't have a right to have the bank forgive the amount that is still owed; the bank will decide whether they will take less than is owed. Also, there may be negative tax and credit consequences to the homeowner.

In contrast, an REO (Real Estate Owned), is property that used to be owned by someone, the owner didn't make the mortgage payments, the bank went through the foreclosure process, and now owns the property.

In my experience, buyers who would like to buy a short sale have to be extremely patient and not get too attached to the home that they want. The homeowner still owns the home, but it's the bank who will decide whether to deal with the sale or not. Sometimes a bank doesn't even bother with an offer at this stage; I made an offer for a client on a short sale about 6 weeks ago and the bank still hasn't even assigned someone to review it! (We are now in escrow on another property).

With REOs I have found that it is much easier to get a response. The home is now the bank's asset and they seem to be much more motivated to sell it. Not that it completely smooth, but I have found it to be easier to help buyers buy REOs than to buy short sale properties.

With both short sales and REOs, you really have the bank dictating terms that they will accept, so you don't have too much power over many of the terms of the sale. With REOs I find that it's easier to negotiate a lower price and some closing cost credits; with short sales, the bank really has no motivation to take a lower price or give any kind of credits. With both, if you get into escrow, you will usually have a shorter investigation/inspection and escrow period and probably won't get a home warranty or repairs.

My conclusion? If it's between a short sale and an REO, my opinion is that you can get a better price and some credits and you can at least get a response from the bank. Of course, this can be different depending on the specific home and specific bank involved.


2008/8/26 Connie

After trying to make offers for my clients on short sales, I have "lovingly" termed them "virtual sales."

Like a lot of areas, San Diego has its share of short sales (home sales where the owner owes more to the lender than what the home can sell for). Although the borrower/seller still owns the home, the bank has to approve the contract because they have to agree to take less than what is owed to it. So many buyers enjoy the idea of the short sale because the price usually looks attractive, but so few actually end up selling.

cash

Three motivated buyers, three different offers, all the same result:

Buyer 1: We made an offer for the home back in October. We still have not heard an answer (even to this day), so my clients bought a different (non-short sale) home.

Buyer 2: We made a full price offer on a home in December. We never heard anything, except that an answer was "coming soon." My client got so tired of hearing that, that he recently bought a different home and has now closed escrow. The area that the short sale home is located in has gone down in price so I doubt that it can be sold for what my client offered.

Buyer 3: We made a full price offer on a home, also in December. Finally, after 5 weeks, the bank came back and wanted $30,000 more. My clients have moved on.

Although I know that a portion of short sales actually sell, it's amazing to me how difficult it is to actually get a bank's cooperation. I understand that the banks have other priorities and that they need a lot of information before they will approve a sort sale, but if there is a willing, able and motivated buyer, it seems to be in everyone's best interest to actually sell the home rather than let it go into foreclosure, costing the bank more money.

I can only imagine how frustrating it must be for the listing agents too. I have seen listing agents bend over backwards to get a short sale to be approved only to face the same frustration.

Until banks become more motivated to work to on short sales, I counsel my clients about the pitfalls and risks of those "virtual sales," and let my clients decide whether they want to wait it out. I have to explain that the list price isn't necessarily the price the bank will approve. More often than not, my best buyers decide that waiting for a bank just isn't worth it and will move on to other properties.

Chandeclair 3A

Chandeclair:

Phase 3A -- June 18th, 2008

Plan 1:

562: 710K (Den, Bed4, Granite,SS Appliances,Maple Cabinets)

565: 688K

568: 677K

Plan 2: All have bed 6 which converted from 3rd garage)

561: 688K

564: 684K

567: 711K

538: 681K

Plan 3:

563: 695K (3281 sf with bed 6)

566: 681K (3080 sf)

经典！次贷危机的通俗解释 （ZZ）

在美国，贷款是非常普遍的现象，
从房子到汽车，从信用卡到电话账单，贷款无处不在。

当地人很少一次现金买房，通常都是长时间贷款。
可是我们也知道，在美国失业和再就业是很常见的现象。
这些收入并不稳定甚至根本没有收入的人，他们怎么买房子呢？
因为信用等级达不到标准，他们就被定义为次级贷款者。

大约从10年前开始，
那个时候贷款公司漫天的广告就出现在电视上、报纸上、街头，
抑或在你的信箱里塞满诱人的传单：

『你想过中产阶级的生活吗？买房吧！』

『积蓄不够吗？贷款吧！』

『没有收入吗？找阿囧贷款公司吧！』

『首次付款也付不起？我们提供零首付！』

『担心利息太高？头两年我们提供3％的优惠利率！』

『每个月还是付不起？没关系，头24个月你只需要支付利息，贷款的本金可以两年后
再付！
想想看，两年后你肯定已经找到工作或者被提升为经理了，到时候还怕付不起！』

『担心两年后还是还不起？哎呀，你也真是太小心了，
看看现在的房子比两年前涨了多少，到时候你转手卖给别人啊，
不仅白住两年，还可能赚一笔呢！再说了，又不用你出钱，
我都相信你一定行的，难道我敢贷，你还不敢借？』

在这样的诱惑下，无数美国市民毫不犹豫地选择了贷款买房。
（你替他们担心两年后的债务？向来相当乐观的美国市民会告诉你，
演电影的都能当上州长，两年后说不定我还能竞选总统呢。）

阿囧贷款公司短短几个月就取得了惊人的业绩，
可是钱都贷出去了，能不能收回来呢？
公司的董事长--阿囧先生，那也是熟读美国经济史的人物，
不可能不知道房地产市场也是有风险的，
所以这笔收益看来不能独吞，要找个合伙人分担风险才行。

于是阿囧找到美国财经界的领头大哥--投资银行。
这些家伙可都是名字响当当的大哥（美林、高盛、摩根），
他们每天做什么呢？就是吃饱了闲着也是闲着，
于是找来诺贝尔经济学家，找来哈佛教授，找来财务工程人员，
用上最新的经济数据模型，一番金融炼丹（copula 差不多是此时炼出）之后，
弄出几份分析报告，从而评价一下某某股票是否值得买进，
某某国家的股市已经有泡沫了，这一群在风险评估市场呼风唤雨的大哥，
你说他们看到这里面有没有风险？

开玩笑，风险是用脚都看得到！可是有利润啊，那还犹豫什么，接手吧！
于是经济学家、财务工程人员，大学教授以数据模型、随机模拟评估之后，
重新包装一下，就弄出了新产品--CDO
（注： Collateralized Debt Obligation，债务抵押债券），
说穿了就是债券，通过发行和销售这个CDO债券，让债券的持有人来分担房屋贷款的
风险。

光这样卖，风险太高还是没人买啊，
假设原来的债券风险等级是 6，属于中等偏高。
于是投资银行把它分成高级和普通CDO两个部分(trench)，
发生债务危机时，高级CDO享有优先赔付的权利。
这样两部分的风险等级分别变成了 4 和 8，总风险不变，
但是前者就属于中低风险债券了，凭投资银行三寸不烂"金"舌，
在高级饭店不断办研讨会，
送精美制作的powerpoints 和 excel spreadsheets，当然卖了个满堂彩！
可是剩下的风险等级 8 的高风险债券怎么办呢？避险基金又是什么人，

于是投资银行找到了避险基金，

那可是在全世界金融界买空卖多、呼风唤雨的角色，
过的就是刀口舔血的日子，这点风险简直小意思！

于是凭借着关系，在世界范围内找利率最低的银行借来钱，
然后大举买入这部分普通CDO债券，
2006年以前，日本央行贷款利率仅为1.5％；
普通 CDO 利率可能达到12％，
所以光靠利差避险基金就赚得满满满了。

这样一来，奇妙的事情发生了，
2001年末，美国的房地产一路飙升，短短几年就翻了一倍多，
天呀，这样一来就如同阿囧贷款公司开头的广告一样，
根本不会出现还不起房屋贷款的事情，
就算没钱还，把房子一卖还可以赚一笔钱。
结果是从贷款买房的人，到阿囧贷款公司，到各大投资银行，到各个一般银行，
到避险基金人人都赚钱，

但是投资银行却不太高兴了！
当初是觉得普通 CDO 风险太高，才丢给避险基金的，
没想到这帮家伙比自己赚的还多，净值拼命地涨，早知道自己留着玩了，
于是投资银行也开始买入避险基金，打算分一杯羹了。
这就好像阿宅家里有放久了的饭菜，正巧看见隔壁邻居那只讨厌的小花狗，
本来打算毒它一顿，没想到小花狗吃了不但没事，反而还越长越壮了，
阿宅这下可傻眼了，难道发霉了的饭菜营养更好？
于是自己也开始吃了！

这下又把避险基金乐坏了，他们是什么人，
手里有1块钱，就能想办法借10块钱来玩的土匪啊，
现在拿着抢手的CDO当然要大干一票！
于是他们又把手里的 CDO 债券抵押给银行，
换得 10 倍的贷款操作其他金融商品，
然后继续追着投资银行买普通 CDO 。

科科，当初可是签了协议，这些普通 CDO 可都是归我们的！！
投资银行实在心理不爽啊，除了继续闷声买避险基金和卖普通 CDO 给避险基金之
外，
他们又想出了一个新产品，就叫CDS（注：Credit Default Swap，信用违约交换）
好了，华尔街就是这些天才产品的温床：
一般投资人不是都觉得原来的 CDO 风险高吗，
那我弄个保险好了，每年从CDO里面拿出一部分钱作为保险费，
白白送给保险公司，但是将来出了风险，大家一起承担。

以AIG为代表的保险公司想，不错啊，眼下 CDO 这么赚钱，
1分钱都不用出就分利润，这不是每年白送钱给我们吗！
避险基金想，也还可以啦，已经赚了几年了，
以后风险越来越大，光是分一部分利润出去，
就有保险公司承担一半风险！
于是再次皆大欢喜，Win Win Situation！CDS也跟着红了！

但是故事到这还没结束：
因为"聪明"的华尔街人又想出了基于 CDS 的创新产品！
找更多的一般投资大众一起承担，我们假设 CDS 已经为我们带来了 50 亿元的收
益，
现在我新发行一个基金，这个基金是专门投资买入 CDS 的，
显然这个建立在之前一系列产品之上的基金的风险是很高的，
但是我把之前已经赚的 50 亿元投入作为保证金，
如果这个基金发生亏损，那么先用这50亿元垫付，
只有这50亿元亏完了，你投资的本金才会开始亏损，
而在这之前你是可以提前赎回的，首次募集规模 500 亿元。
天哪，还有比这个还爽的基金吗？

1元面额买入的基金，亏到 10% 都不会亏自己的钱，赚了却每分钱都是自己的！
Rating Agencies 看到这个天才的规画，简直是毫不犹豫：给出 AAA 评级！

结果这个基金可卖疯了，各种退休基金、教育基金、理财产品，
甚至其他国家的银行也纷纷买入。
虽然首次募集规模是原定的 500 亿元，
可是后续发行了多少亿，简直已经无法估算了，
但是保证金 50 亿元却没有变。
如果现有规模 5000 亿元，那保证金就只能保证在基金净值不亏到本金的 1% 时才不
会亏钱，
也就是说亏本的机率越来越高。

当时间走到了 2006 年年底，风光了整整 5年的美国房地产终于从顶峰重重摔了下
来，
这条食物链也终于开始断裂。
因为房价下跌，优惠贷款利率的时限到了之后，
先是普通民众无法偿还贷款，
然后阿囧贷款公司倒闭，
避险基金大幅亏损，
继而连累AIG保险公司和贷款的银行，花旗、摩根相继发布巨额亏损报告，
同时投资避险基金的各大投资银行也纷纷亏损，
然后股市大跌，民众普遍亏钱，
无法偿还房贷的民众继续增多，
最终，美国Subprime Crisis 爆发接近成为 Prime Crisis。

Some funny comments about Carmel Valley area

1. The great thing about Torrey Hills is you get military helicopters and jet fighter noise at all hours of the day. Free of charge!! Yes, you actually get that for free!

2. People driving around: Soccer moms in SUVs, and mid life crisis dads in bmw's

CARMEL MTN. RD. EXTENSION

This is very interesting:

For those who interested in Carmel Valley: RUMER SAYS--a new Pardee community scheduled to break ground some time this year or next (I forgot exactly when).

THE CITY HAS APPROVED FUNDING FOR CARMEL MTN. RD. TO BE CONNECTED TO LITTLE MCGONIGLE RANCH RD. (FORMERLY DEL MAR MESA RD.) THE PLANS FOR THIS ROAD ON CURRENTLY ON HOLD UNTIL THE SHAW LORENZ COMMUNITY IS COMPLETED BY PARDEE (CONSTRUCTYION ON THE LUXURY COMMUNITY IS SET TO BEGIN 4-17-08). WHEN THE ROAD IS CONSTRUCTED IT WILL BE A TWO-LANE (ONE IN EACH DIRECTION), MEANDERING ROAD (NO MORE THAN 60' WIDE) CONNECTING CARMEL COUNTRY HIGHLANDS TO DEL MAR MESA. IT WILL BE LESS THAN ONE MILE IN LENGTH AND WILL TRAVERSE THE OPEN SPACE OF LOS PENASQUITOS RESERVE. INCLUDED IN THEPROJECT WILL BE A WILD-LIFE CROSSING UNDER CARMEL MTN RD AND A MULTI-USE (FOOT/BIKE PATH) TRAIL WILL ALSO BE INCLUDED. THIS WILL NOT DIRECTLY CONNECT TO THE 56! CONSERVATIONISTS AND RESIDENTS HAVE OPPOSED THIS. I HAVE VERIFICATION OF THIS FROM THE CITY OF SD. THIS WILL BE A SMALL ROAD (NOTHING LIKE CARMEL COUNTRY RD) FOR THE FIRE DEPARTMENT AND LOCAL RESIDENTS TO ACCESS."

Interest rates are climbing

and most experts agree that they will continue to do so, despite the Fed's decision to hold for now. Someone in mortgage business told me she would not be surprised to see rates as high as 8-9% by year end.

关于和builder讨价还价

很多人都问我whether or not it's realistic to get some percentage off the builder's listed price? How much can you "negotiate" with the builder? 很多诸如此类的问题。

现在4S的builder都卖的还可以， 虽然比较slow. 我都有不止一次陪客户去讨价还价的经历，基本上都是无功而返的。 我知道的几个圣地亚哥所谓的“金牌” agent去讨价还价一样没有luck. Working out price reductions with the builders基本上是很难的。

我总是觉得it doesn't hurt to give it a try. You will never know but at least you tried.
不过另外一个advice就是你有什么砝码去Negotiate. 无非就是你不要了， walk away.
Your best leverage would be leverage you develop over time. The more guts you have to look the sales lady in the eye and make a demand and walk away if they don't meet your demand, then the more you may get in the long run if you are in it for the long run. That is, you can accept walking away and then coming back a few months later.

对于建筑商来说，最不愿意做的就是降价钱。 他们宁可送你upgrades. 当然了They may claim they are giving you 50k in incentives or upgrades when in reality it may cost them 40-60% of that in materials in labor...

所以， give it a try and good luck!

Websites that I use for checking the rates

Some quick and easy ways to check on average mortgage rate:

http://www.bankrate.com/

http://www.aimloan.com/

http://www.ericfang.com/

Median price reaching lowest level since 2003

Home prices continued to tumble in San Diego County last month, with the median of $380,000 reaching its lowest level since September 2003.

A trio of factors – surging foreclosures, tougher lending standards and a weak economy – further pressured prices and demand for housing, according to La Jolla-based DataQuick Information Systems. May's median price was down nearly 23 percent from a year earlier.
The number of home sales inched up last month compared with April, as bargain hunters sought out good bank-owned deals. But overall, demand remains soft. The 2,979 sales last month represented a 12 percent decline from the same month last year.
Moreover, sales volume last month was lower than any May since 1995, when San Diego County was considerable smaller in terms of population and employment.
Foreclosure sales continue to cast a widening shadow over the housing market. Sales of bank-owned homes made up 36 percent of all sales last month. That compares with just 8 percent a year ago and 0.2 percent during the peak of the housing boom.
“What horsepower this market can generate right now is mainly fueled by bargain shopping, especially by first-time buyers and investors in inland areas,” said Andrew LePage, an analyst with DataQuick.
“During the housing boom, we came to expect discounts on everything we buy except housing,” LePage said. “Now we've re-shattered the notion that home prices can't fall. The expectation is everybody is going to get a deal.”
Re-sales of of single-family homes were down 3 percent from a year earlier to 1,782. But prices of resale homes fell from $557,000 last May to $420,000 this May.
LePage said the median might be skewed lower because sales are occurring mainly in less expensive neighborhoods. There have been relatively few sales in higher-prices, mostly coastal markets.

Bottom yet?

So many people asked this question..."Are we at the bottom yet?"

There are many indicators show that we will be there towards end of this year. The thing is we are going to have a rebound after the bottom. We will probably stay there for a few years.

Let me put this thought here today and let's watch how the market goes.

How to Buy a House with Good Feng Shui

General rules of how to look at a house with Fengshui perspective;

Your surroundings can have a huge impact on your life – to the point of affecting your personal happiness, your prosperity, even the opportunities that come to you in your life — thus making your choice of home a very important one. Because most of the important moments in our lives occur in our houses, the house itself becomes more than just four walls where we eat and sleep. That’s why careful consideration is called for if you are thinking about purchasing another home.

So what do you look for when you are considering purchasing a new home? It comes down to two things: the tangible and the intangible. The tangible items include price, location, size, and condition. The intangible includes considerations such as location on a street, how the home is situated on the lot, its relationship to other buildings or homes, how the home flows inside, and situations such as whether the former occupants were ill, in financial trouble, etc.

These are the types of considerations that are taken into account when you want to assess the feng shui of a home. Of course, these are not all of the elements that make up a home with good feng shui, but these are some of the important considerations. Hopefully, this will serve as a guide for helping you select a home that is right for you and your family.

1. Buy a new house or “successful” house. A new home does not have a history, making these the optimal choice. However, if you are looking at a preowned home, buy one from someone who is moving into a bigger house, got a huge promotion and is moving, or has won the lottery and is buying a villa in Tuscany. Then, you are buying into good feng shui and positive energy.

Houses that are for sale from a divorce, a foreclosure, or where there is a serious illness, or other affliction are not the best choice. To purchase a home such as this can mean that you are buying those problems too. How so? The house might be the problem. Or, there might be a landscape or topographical element causing the difficulty. It’s best to avoid these kinds of homes.

2. Buy high or level ground. Houses that are situated on the side of a hill or where the back slopes away from the house are “losing ground.” Better also to buy a house where the lot is wider at the back than the front. Also, try to buy a regular-shaped lot. Square or rectangle shaped lots are especially good.

3. The inside story. Make sure bedrooms are not over a garage, kitchen, laundry room, or open space below. Also be sure there are no bathrooms over a dining area or kitchen. This can cause illness in the house. Look at the arrangement of bedrooms to bathrooms so that beds won’t share a common wall with a toilet.

4. Get support. It's best for land to either be level or have a rise at the back of the house. Land that falls away at the back of the house creates loss and difficulties getting recognition and promotion. If the house has a building or a hill at its back, then it is supported.

5. Open up. If the house faces open land or has a wide, open area in front of it, then it has the “bright hall effect.” This is extremely auspicious. Think of the White House in Washington with the large expanse of lawn in the front or the front of the grand Biltmore House in Asheville, North Carolina.

Make sure the house is not overwhelmed by landscaping. If there is a tree too close to the house, especially if it is in line with the front door, this is not good and will prevent opportunities for the homeowner. Consider removing the tree. Likewise, if plants and shrubs look like they’re taking over the house (either planted too closely or growing on the walls), consider removing these as well and replanting elsewhere. A house should not be smothered by the landscaping.

6. Look both ways before buying. What’s to the right and left of the house? Is there a house or building that seems to impose itself on this house? If the house or the land on your left is higher, this is good, as it is tapping the dragon energy. It is even more fortunate if the house to your left (as you look out of the house) is in the East. Is there a house with a pointed roof, a corner of the home pointed at your front door, etc., or aimed at the house?

Be sure to look at the approach to the house. Is it in a cul-de-sac? If the road ends at a straight line to the house, this is not good. Also, houses with a road behind and in front of the house suffer, and corrections can’t be made for these. Long straight driveways that end at the house, or roads that stop at the house, are another problem, but can be corrected with plants or mirrors.

7. What’s the situation? The house should be situated on the lot correctly, which means it should not be set back behind the half-way line of the lot. It is better to sit a little forward in the lot than too far back.

8. What is in the Southwest and Northwest? These are the two most important directions in a home. The Northwest should never have an open flame, such as from a gas stove or fireplace. If there is one there, move on to another house. This is feng shui taboo. To have a home such as this is to invite severe difficulties for the man of the house.

Also, look at the SW; this is the position of the woman or mother of the house. If there is a storeroom or bathroom located here, there could be marital difficulties and unhappiness. Consult with a feng shui practitioner about this if you just love the house, but it has trouble in the SW corner.

Good luck with the purchase of your new home!

Just for fun: The Most Expensive Homes in the U.S.

$165 millionBeverly Hills, Calif.

Once the home of newspaper mogul William Randolph Hearst, this 6.5-acre mega-mansion in Beverly Hills was built in 1926 and was featured in the film The Godfather. The compound comprises six buildings that have a total of 29 bedrooms.

For pictures and more super pricy homes. Check it out here.

地区安全系数

了解一个地区是不是安全，可以去这个网站查询

http://arjis.org/

REAL ESTATE的四重魔力(转载）

今天俺打算聊聊RE(REAL ESTATE)的四重魔力。第一重魔力：Passive income，第二重魔力：Inflation income，第三重魔力：Tax effective income，第四重魔力：Leverage income。第一重魔力：Passive income。啥意思？就是钱是耒找你的，或者说待在家里(或躺在夏威夷的沙滩上)照样收钱，无需劳心、劳力、起早贪黑的忙碌。如果你有一千万美刀全投入RE，也就是俺们常说的十粒米，按照当前的市场你起码应有5%的净回报；也就是说去掉了一切开销后(包括管理费用)，你今年最低应有50万的净收入。没有老板、没有雇员、没有同事间的你争我夺、、、、、、、呵呵呵、、、、感觉怎么样？Passive income真是个好东东哈。第二重魔力：Inflation income。Inflation income？有没有搞错！俺们只听说过Inflation，没听说过Inflation income。是的，对于一个RE的持有者耒讲通胀就是收入。俺们在前面讲过，一百年前花费一美刀买到的东西，今天需要花费约22。5美刀才能卖到。RE 也是东东，是一种天然抵御通涨的东东；过去百年里的经验告诉俺们：平均每年的RE增值率稍稍高于通涨率，大致为5-6%。也就是说如果你持有十粒米的 RE，你今年的总资产起码又增加了50万。呵呵呵、、、、感觉怎么样？啥都没做怎么又多了50万！这不是魔力啥是魔力？第三重魔力：Tax effective income。俺们知道米国是一个万税的国家，燕过还得拔毛呢；你这50万的现金收入外加50万的资产增值还能不给大叔留下一半？大叔对于RE是如此的善良：50万的资产增值大叔没看见，税就免了吧。呵呵呵、、、、大叔都说没看见了，你还要交哪门子的税。所以，这种没看见的钱要多多赚点哈。那么另外那50万的现金收入大叔可是看见了，昨办呢？大叔对于RE依然是的善良滴：折旧成本；如果你持有十粒米的RE折旧成本大约为25万。也就是说需要申报收入为：50万(现金收)入-25万(折旧成本)=25万(申报收入)如果税率为40%，你需交给大叔10万。那么你还有多少呢？40万的现金外加50万的资产。呵呵呵、、、别小看这数字，这可是税后的收入。你知道要挣多少工资才能留下这90万？如果还也40%税率耒算，你得挣150万的工资才行。哈，这是不是有魔力！第四重魔力：Leverage income。杠杆？这玩意最近被批的很很厉害，虽然它魔力巨大但俺还是少言为妙，大家还是慢慢体会吧。很多同学读完了俺的REAL ESTATE的四重魔力时说得最多的一句话就是：石头啊，你这玩意听起耒挺好滴，可俺没有十粒米。三粒米成么？成！俺今天就煮一煮这三粒米的饭。做RE的几乎都用Leverage，也就是说做部分贷款。按目前的市场行情，放三粒米的头款，银行贷款七粒米，你就可购得十米的RE。如果CAP RATE 为7%，贷款利息为7%(30年分期付款)，让俺们耒重新计算一下各种income。第一重魔力：Passive income。一千万美刀RE(CAP RATE 为7%)的回报为70万，减去约56万的分期付款后，净现金回报14万。另外56万的分期付款中的7万是用耒支付贷款本金滴，因此你有7万债务的减低。第二重魔力：Inflation income。由于Leverage不改变Inflation income，所以还是你今年的总资产起码还是又增加了50万。第三重魔力：Tax effective income。50万的资产增值大叔还是没看见，税依旧免了。十粒米RE的折旧成本仍然大约为25万。也就是说需要申报收入为：70万(毛收入) - 49万(支付的利息) - 25万(折旧成本) = -4万(申报收入)什么！什么！什么！你告诉大叔你今年赔了4万？是滴。呵呵呵、、、你给俺说说看大叔还收不收这税钱了？第四重魔力：Leverage income。年底了，该结帐了。去掉了一开销、交完税(呵呵呵、、、、你交了吗？)，你还乘下多少呢？资产增值：50万债务减低：7万净资产增值为： 57万。现金收入：14万。LOSS CARRYOVER 至明年：4万。呵呵呵、、、、请各位同学告诉俺，这要相当于税前的多少收入呢？

Price watch: Down in 4S ranch

12/2007:

Plan 1: $674K + $20K incentive

Plan 2: $723K + $20K incentive

Plan 3: $771K + $20K incentive

05/2008 :

Plan 1: $626K + $15K incentive

Plan 2: $666K + $15K incentive

Plan 3: $699K + $15K incentive

10/2007 :
Plan 1: $745K + $20K incentive
Plan 2: $760K + $20K incentive
Plan 3: $770K + $20K incentive
Plan 4: $741K + $20K incentive
04/2008 :
Plan 1: $632K + $20K incentive
Plan 2: $668K + $20K incentive
Plan 3: $660K + $20K incentive
Plan 4: $675K + $20K incentive

豪宅又如何

今天去看了一个房子。 1千1百万。 在Rancho Santa Fe.

房子是个据称是很有名的设计师设计的（是local 的）。 古堡风格。 里面阴森森的，没有家的感觉。 很多对方都犯了我们中国人对于风水的大忌。 比如前门通后门， 比如床对着厕所门。 而且5个bedrooms, 2个在房子的一头，另外3个在相对方向的一头，两头离得有八丈远。

还有就是Rancho Santa Fe在美国也是可以排到前10的豪宅区，里面基本上都是一条lane的路，曲里拐弯转来转去， 我一边开车一边想，富人为了找个世外桃源和一般的俗人区别开，建一个dream house还真是不容易啊。

今日看房：一豪宅

http://picasaweb.google.com/carmelcreek/4552RanchoDelMarTrail#

1000多万。 里面像个古堡，没有家的感觉。很多设计完全不符合我们中国人对于风水和家居的要求。 我觉得也实在是overprice了。 虽然地大有view, 但是其实还是没有太多的privacy.

Pending, pending, sold...

得不到的总是最好的。 看过房子后左右摇摆，等到房子pending了， 回首一看,那房最好。

那么，Pending 的房子还能再给offer吗？

一般来讲In MLS, 房子出售有四部曲。

先是“active”, 很简单，房子available for sale.

然后如果有buyer来offer, 但是offer里面有contingencies (loan, inspections, appraisal, etc.) 房子就是列为“active contingent”.

等到contingencies 都已经不存在了。就列为“pending”, and this usually means it’s as good as sold, 但是买家到最后close还有一段距离，可能还会有一些不定因素存在。

最后, of course, 就是 “sold”。无需解释了。

所以说，如果是pending, 基本上已经很难再submit new offer了。

但是不试试也不知道，很多的seller当然是很愿意接受backup offer。

Poway

最近去poway看房也比较多。 poway很大，very diverse。 You can get a 4br for $350k or a 4br for $3.5m. Depends on what you're looking for.

算是inland了。 夏天比较热。

新的Sabre Springs, south of Poway Road那里很不错。Many homes in there are good sized, still in PUSD, pretty low Mello-roos and HOA.

Poway学区是不错的。 但是具体还是要看每个小学和中学的情况。 有

http://en.wikipedia.org/wiki/Poway_Unified_School_District

San Diego Communities and their zipcodes

North County Coastal San Diego
Cardiff by the Sea 92007
Carlsbad 92008, 92009
Carmel Valley 92130
Del Mar 92014
Encinitas 92024
Oceanside 92054, 92056, 92057
Solana Beach 92075

North County Inland San Diego
4S Ranch 92127
Carmel Mountain, 92128
Escondido 92025, 92026 92027, 92029
Mira Mesa 92126
Poway 92064
Rancho Bernardo 92127
Rancho Penasquitos 92129
Rancho Santa Fe 92067
Scripps Ranch 92131

Central Coastal San Diego

La Jolla 92037
Sorrento Valley 92121
University City 92122

买房心得（ZZ）

最近房子下跌的厉害，银行重新评估的时候，我挺担心的，但结果出来我的房子竟比买价多了三万。看来我去年泡我爱我家没白费功夫。我觉得房价跌的最厉害的一是远郊新房子比较多的地方，另一处就是差区。我把自己买房的考虑总结一下：1。 好区，好学区。事实证明，好学区的房子永远有人要。 尤其是那种已经没有多少空地了，交通方便的区。 我买的是最好的学区，地处大都市的中心，到哪里都非常方便。2。地大房小。房子小，但结构合理。我们三口之家，不需要3000，4000SF的房子，2200已经非常COZY了。 买价包括地价和房价，地价是升的，房子却是折旧的，所以地价所占的比例越高越好。3。INSPECTION 钱一定不能省。因为是旧房，除了结构布局合理，房子质量很重要。要仔细看卖主的房屋报告。屋顶，SIDING，窗户最好是新换的。看房子保养的好可以看GARDENING。一般GARDENING 好的，保养基本就比较好4。找屋主住的时间比较长的买。一是他会比较爱护房子，因为住的久，一般对房子也比较有感情。二是卖的时候因为房子几十年升值已经比较大了，不会斤斤计较价钱，如果他真想卖的话。5。我自己很介意朝向，所以我买的是南北向的房子。个人感觉，南北向的房子比东西向的房子上市的少。

澄清一下买builder房 agent commision的事情(ZZ)

虽然我给客户的rebate挺generous的，还是忍不住转载这个。 我觉得正要找个好agent比要回多少rebate强。还真是那么回事。

Builder的agent's (on site/listing agent) pay is based on agreement between builder and the listing agent. 在我知道的一个工程，on site agent总共拿到5.5%。如果对方没有带人来，on site agent拿到5.5%。如果对方有agent,on site2%， buyer agent3.5%.不管对方有没有agent,builder 出的钱是一样的，这是在budget里面的。Agent的钱对builder来说是小钱，卖出去房子才是大事。你没有agent,很多事情，listing agent要替你做，而且成交的机会小得多。不要误以为让对方占了便宜。我做listing agent for single family house 的时候,没有agent 打电话的我比较懒得理，因为要花很多时间沟通和解释。而且对方是个什么都不懂的人，越是不懂，越是不敢买。浪费什么时间。而且我不知道对方能否带下来款，这是目前最重要的。Prequalify. I would not negotiate with anyone without seeing the prequalify letter first. 误区：1. 跟你讨价还价的是on-site agent,不是builder.2. license law 不允许对有agent和没有agent的客人区别对待。3. 任何降价超过了一定范围都要builder同意。结论你没有带agent，得到好处的是on site agent，builder未必把这个作为考虑的。不要沾沾自喜啦。每个州，每个工程的的情况不同，以上意见，仅供参考。找到喜欢的好房子最重要，别老惦记我们agent兜里那点钱啦。

烂区春未到，好区抢到爆 (ZT)

This is talking about SSF/San Jose.

用十个字来形容市场就是：烂区春未到，好区抢到爆。
用十个字来形容seller和buyer就是：很黄很暴力，很晕很无奈。


。。。无语啊无语。估计原因有五：
1.由于贷款利率的下调和对通涨的担心，很多人决定当断则断。
2.去年冬天以来的低inventory让很多人憋坏了，据说春天历来hot。
3.去年转战股市的可能今年都进入房市了。
4.刚需。看到很多小孩子，还有的说“i want this house”，我靠，me too。。
5.都疯了。

我相信这些地方比起所谓的房市高点（2005？）高出30%不止了。早买早超生压，我靠。

形势很惨很严峻。到底这是新一波主升浪的开始，还是主力发力派筹阶段，我不得不说
：这个市场没人能操纵，job不倒，它们不倒。

Scripps Ranch

Scripps Ranch算是inland, 15号公路的东边， Marine Corps Air Station Miramar以北，Poway以南。 区号92131. 以前是报业大亨Scripps拥有，大概1200亩地。

大概有百分之15的亚裔居住在这里。

曾经在03年10月被山火烧掉很多房子。 大概300家。

Scripps Ranch盛产一种很特别的树，叫Eucalyptus trees。

学区还不错，比较decent. 属于San Diego Unified School District (SDUSD).

小学：

Miramar Ranch Elementary School (K-5)

Ellen Browning Scripps Elementary School (K-5)

Dingeman (Robert E.) Elementary School (K-5)

Chauncy I. Jerabek Elementary School (K-5)

中学：

Wangenheim Middle School (6-8)

Thurgood Marshall Middle School (6-8)

Scripps Ranch High School (9-12)

Scripps Ranch大概分为几个区。 一个是Pomerado以南。房子有新有旧。新的都是03年山火之后盖起来。Pomerado北是70年代的老房子居多。有的后院巨大lot也很大。在Pomerado和Spring Canyon之间有一些房子基本上80年代的，Spring Canyon北面一些房子基本上更新一些。房子大点但是地比较小。Pomerado以东是Stonebridge的新房子。那些新房子很over priced.

Check this out

RottenNeighbor.com

A rotten neighbor could be another reason that you pass that house!

Poll: Where You Want to Live

Miami might be a nice place to visit, but only 3 percent of those polled by Zogby International would like to live there.

San Francisco led the pack among cities where people would like to live with 13 percent saying they would move there if they could. It was followed by Chicago, Orlando, New York, Las Vegas, and Houston.

The national poll, which was focused on Miami, rated the city’s high and low points and compared it with other major cities in the nation.

About 42 percent of those polled had visited Miami, but they ranked the city sixth out of eight major American cities as a vacation destination. The first choice was San Francisco, garnering 19 percent of the sentiment. Orlando came in second with 14 percent choosing it.

Fed cut rate again

Is that a good thing? I doubt it...

REFINANCE的机会来了

最近MORTGAGE RATE 持续下跌，不少房子都有了REFINANCE 的机会，尤其是COMFORMING BALANCE LOAN （i.e. LOAN VALUE < 417K)

现在COMFORMING BALANCE MORTGAGE RATE 大概是

30 YEAR: 5.3%

15 YEAR: 4.8%

JUMBO LOAN (> 417K ) MORTGAGE RATE 没有什么大的变化，所以REFINANCE的余地不大。

但是不是所有的COMFORMING MORTGAGE 都IN A POSITION TO REFINANCE，最近的房价下滑PLAY A ROLE HERE。假设你两年前买了一个50万的房子，贷了40万，利率是6%，现在利率是5.3%，理论上应该可以去REFI. However, 如果现在房子的价格跌了，目前只值45万，你的贷款总额大概还有39万，这时候，你的LTV RATIO （LOAN-TO-VALUE) = 39/45, 大于80%，所以你还是拿不到5.3%, 大概还是靠近6%。

所以考虑REFINANCE的时候，一样要考虑房子的价格。

另外，如果能REFINANCE的话，我建议尽量采用ZERO COST REFINANCE，因为MORTGAGE RATE可能还会进一步下滑，有再一次REFINANCE的机会，这样做的时候，要MAKE SURE， THERE IS NO PREPAYMENT PENALTY.

Carmel mountain ranch updates

I'll update it when/if any of the make it to escrow

Carriage Run:

1)MLS 071091971 listed 11/30/2007

11371 BLACK COLT LANE

$823,875/ 1985 sqft

Saratoga:

1) MLS 071089870/ listed 11/19/2007

5108 GREAT MEADOW DRIVE

$1,047,250/ 2724 sqft

2)086002322 listed 1/8/2008

5274 FOXBOROUGH PT

$1,150,000 /2769 sqft

There are two sale by builder in Derby Hill right now.

First, a plan 2 at 3800+ sf for $1.59-1.69M.
Second, a plan 1 at 3500+ sf for $1.299M (FSBO still avail as of today (1/13)).

These will be the first resales for Derby Hill so it will be interesting to see what happens. Neither house is on a canyon but both seem to have nice upgrades. I think the higher-priced one is way off base.

There are two resales in Saratoga right now.

Foxborough Pt as you indicated above.
107007 Heather Ridge for $1.1-1.25M at 2700+ sf.

These both back-up to Carmel Mtn. Road but have large lots. I know that there are a lot of buyers that would never live in a house backing up to a main road. Great Meadow is a brand new Pardee home, not a resale. A neighbor told me that at least one of the Saratoga models is still available for sale. I thought they were all sold but maybe it fell out of escrow?

I don't know Carriage Run very well.

Pardee is releasing another phase of Derby Hill next Sat. (1/19). They had no problem selling out the last phase in December. It seems that Pardee is pretty confident right now since they are busy trying to get the new models for Bridle Ridge (I think that's what they are calling it?) out by March. This new one is across the street from Saratoga and partly down at the end of Carmel Mtn. Road. It will be interesting to see their initial pricing on those. I believe their size is comparable to Saratoga.

If these resales do close near their listing prices, it shows that some people are still making money on San Diego real estate!!

有关贷款的入门讲解（转载）

这个讲解写的相当详细。 希望对第一次买房的朋友们有用。

Mortgage type
总的来讲，Mortgage 有两种，一种是fixed payment, 一种是 ARM (Adjustable Rate Mortgage)

Fixed payment, 顾名思义，就是每个月的payment是固定的。常见的有30年和15年的两种（20年和40年的也有，但不多见）。我们还用刚才那个例子，假设这个贷款40万的人用的是30年Fixed, 利率是6.25%，那他每个月的mortgage payment 就是$2,462.87，每个月你都交这个数目，直至付清，假如他每个月都正好付$2,462.87的话，他的mortgage 就会在30年的时候还清。一般来说，15年的rate 要比30年要略低（大概低0.25%-0.5%左右），不过由于周期短，所以monthly payment 会高一些。因此，采用15年Mortgage的一般是富人，就刚才那个例子，如果其他不变，换成15年6%，monthly payment 就会是$3375.43，这样15年就付清了。

ARM，这种类型的mortgage, 每个月的payment 是不固定的，它会跟随某种benchmark rate （一般是LIBOR rate）上下浮动。一般常见的ARM是一种叫Hybrid ARM 的, 这种ARM的前一小部分时间的rate是固定的，过了那个阶段之后rate就是浮动的啦。银行为了促销ARM, 往往offer的初始固定rate 会比30年甚至15年fixed 要低，俗称teaser rate。这初始固定rate的周期一般是3年或是5年（也有1年，7年或10年的）。过了这段初始时间后，rate 一般每年adjust 一次，所以一般缩写成3/1 ARM, 5/1 ARM, etc. 举个例子来阐述一下，假设一个3/1 ARM 头三年的teaser rate是5.75%，以后是LIBOR+200bps，按照这个条例，头三年你每个月付$2334.29 。过了三年，你的利率就变成浮动的，LIBOR rate + 2%。假如当时LIBOR rate 是5%，在未来的一年里你就要按照7%来付monthly payment，就会比$2334.29高出不少。当然，如果LIBOR rate 是3%，你就只需要按照5%付就可以了。rate 每年按照当时的LIBOR rate调整一次, 直至mortgage 付清。我们可以看到采用ARM 就会一定的风险,monthly payment 可能会有很大的上下浮动。

Mortgage Amortization
Mortgage 的本金和利息的计算方法与一般的借贷不太一样，有必要阐述一下。要弄明白这个问题，我们先要介绍两个概念：Prepayment and Curtailment。一般来说，你向银行借钱买房，做为mortgage 的 borrower, 你会有一个option，这个option 赋予了你随时随刻可以多付甚至全付清mortgage的权利。如果你在到期之前全付清的话，就是prepayment, 如果你只是每月多付一些的话，就叫curtailment (又叫partial prepayment)。值得提一下的是，在少数的mortgage agreement 里，可能会有prepayment penalty, 规定如果3年内，或是5年内prepay 的话，就会有penalty, 这个细节在申请mortgage 的时候要当心。
现在我们用一个例子来说明这个Mortgage Amortization.
假设一个30年mortgage，amount 40万，利率6%, 根据公式每个月的payment 是$2398.20。这个$2398.20是由两部分组成的，一部分是principal pay down (本金), 第二部分是interest （利息）。让我们先来看第一个月，beginning balance 是$400,000, 所以要付的月利息就是$400,000*（0.06/12）= $2000. 所以呢，你交的钱中，$2000 是利息，$398.20 是本金，下个月的beginning balance 就变成（$400,000-$398.2）= $399,601.80. 当然如果你说我这个月有点闲钱，我想多付一些(curtailment)，结果你多付了$250, 那下个月的beginning balance 就会是($399,601.80-$250) = $399,351.80。然后呢，第二个月scheduled payment 还是$2398.20，但是你利息变成了$399,351.80×(0.06/12)= $1996.76. 本金就变成 ($2398.20-$1996.76) = $401.44.


尽管每个月的scheduled payment 不变，但是本金和利息的比重在变化。可以说，一开始的payment 几乎全是利息，但是利息的比例会随着时间的推移越来越小，相反, 本金的比例越来越大。

影响Mortgage Rate 的因素
当然，说到最后，大家最关心的还是Mortgage Rate, 大家都希望拿到一个低的Mortgage Rate。让我们来看看哪些因素会影响Mortgage Rate 呢
1. Mortgage Type: 一般来说，15年的利率比30年要低，ARM起始的teaser rate 比Fixed Payment 的要低。
2. LTV Ratio (Loan-To-Value Ratio), 就是拿你的Loan Amount 除以你房子的价值。小于80%的（换句话讲，down payment 超过20%）的，rate 会低一些。超过80%的，除了利率会高，一般还会被要求交额外的Mortgage Insurance。
3. Income Ratio: 是指monthly mortgage payment 除以 monthly income, income 可以是 before tax (front ratio) 或是 after tax (back ratio). 这个ratio 最好不要超过28% (before taxor) 或是 36% (after tax)。
4. Loan Amount：美国政府规定了一个conforming balance, 目前这个值定在了$417,000。Mortgage amount 超过这个的利率会高, 反之则会低。一般来说，这个值两三年会被调整一次。
5. Credit Score：比较广泛采用的是FICO score, 一般来说，FICO 高于660的就还OK，高于720就属于比较好的credit。低于600的就是所谓的subprime mortgage, 利率就会要比>720高很多。
6. Documentation: 这个指的是你能提供的银行证明，收入证明等等，你要是能提供所有的文件，你的利率就低。反之，假如你是self employed, 你提供不了稳定的收入证明，你的利率就会高一些。

当然利率还跟很多其他因素有关，比方说房子的类型啊，你买房是投资还是居住等等有关，但是那些不是主导因素，我就不再一一叙述了。

透视Closting costs

看房子辛辛苦苦的看了大半天，总算相中了一个，给了offer, 接受了。做了inspection也没啥问题。 恭喜你！ 现在房子要close了，你的agent和贷款公司哗啦哗啦的扔给你了一摞文件，数字一列又一列，看得你直晕菜。 今天我们就来透视一下Closing Costs. 让你明明白白清清楚楚的close。

Closing costs分为４大部分：

一是和贷款相关的收费：包含有origination fee, loan points, credit report fee, appraisal, application fee, mortgage broker fee, processing fee, underwriting fee, wire transfer fee, assumption fee等等。 在这里需要注意的是虽然有些lender的利率很低，但是把买point的钱打在closing cost里, 或者巧立名目收一些杂费，这样实际的费用反而高出利率高一些的lender。所以找lender的时候不能光盯着哪家的rate最低。个人认为以现在的市场来看，还是以low cost的为上策， 因为利率下滑的可能性还是很大的。

第二是围绕title的收费： 一般来讲这一部分都是估算的。包含有settlement or closing fee, title search, title examination, title insurance, document preparation fee, notary fee, attorney fee等等。因为这部分的费用是由Title公司来收费，他们收费项目和标准都有所不同， 所以费用会有所差别。 如果你想要一个比较准确的数字的话，可以给Title公司打电话让他们估算closing fee 和title insurance。 （Title insurance是为了保护买方对于property title的拥有权，主要是针对关于title可能存在的争议。）

第三是与Record & Transfer 相关的费用，用来负责county的recording fee, local tax/ stamps 和state tax stamps。和第二项一样，这一项也是估算的，到时候实际发生是多少就收多少。有时候贷款公司会把这些费用和第二项title charges合并在一起通称为第三方收费（third party charges）。因为这些费用并不是由贷款公司来决定，所以千万不要被有些贷款公司低估的"third party charges"所误导。

第四项也是最后一部分是预交费用(Prepaid)：包括足月开始前的贷款利息, 一年的房屋保险金以及property tax, flood ins, school tax等等贷款公司要收取的押金。利息是从close那天开始计算的。比如12月21号close, 就收21号到1月1号的利息。 另外，贷款公司会一次性预收一年的保险费或者放在月付里面，具体操作你可以和贷款公司讨论选择适合自己的付款方式。

关于房子的closing costs大概就是这样子：四大板块的费用--由于各个贷款公司收费运作不同，会有一些不同的收费项目，但是基本上也不出左右了。

Cramer: When Housing Will Bottom

Cramer是我还很喜欢的一个analyst. 没错他经常给一些wrong analysis, 他也是human嘛， 但是我喜欢他的crazy和confidence.

这里发一个昨天Cramer的访谈， 关于房市的。 他认为2008年的最后3个月会是买房的好时机。Let's see.

Video Link

Immigrants Nudge Builders to Consider New Traditions

Foreign-born homebuyers are changing American design to accommodate their cultural traditions.

For instance, Centex Homes has largely abandoned models featuring a stairway leading up from the foyer that lines up exactly with the front door. That's because in many Asian communities, such an alignment is bad feng shui. It portends that luck will run out of the house.

Home builders in the South and West have begun building homes with more and smaller bedrooms than the traditional four-bedroom house to appeal to some Hispanic immigrant families in which many generations live under one roof.

In areas where there are many Hindu families, there is a demand for homes that reflect vastu shastra, an Indian design philosophy which suggests building homes facing east to soak up sunlight, while placing the kitchen in the center as the symbolic heart of the home.

Some Indian buyers strongly reject foreclosed homes because vastu shastra teaches that it's best to live in a home with positive energy, where the previous residents have been happy and prosperous.

Foreign-born residents make up a growing share of U.S. home owners at all income levels, but particularly first-time buyers, according to Zhu Xiao Di, a senior research analyst at the Joint Center for Housing Studies at Harvard University. Foreign-born residents make up about 16 percent of recent homebuyers in Maryland, 15 percent in Virginia, and 12 percent in the District, according to the center's analysis of U.S. Census data.

Slow market

我的一个朋友是一个很会投资的人。 她的所有的房产都是在好学区的最好的学校旁边。 有一家过马路就是.

虽然是很slow的market, 她现在已经开始在看房要买下一个investment propertie. 她告诉我说这样的downturn她经历过几次了。她的propertie都是downturn里买的。

有危才有机啊。

12月

最近没有怎么update我的blog. 快过节了， 很多事情going on.

快12月了， 新的一年又要开始了。 希望房市能慢慢的好起来。 价格稳定上涨 :)

10 best performing housing markets

Here are the top 10 best performing housing markets, according to Forbes magazine, their third quarter median home sale prices and the percentage that prices have risen compared to third quarter 2006.

1. Salt Lake City; Median Home Sale Price: $246,700; Percent Change: 14.1 percent
2. Charlotte, N.C., $220,000, 11 percent
3. San Jose, Calif., $852,500, 9.4 percent
4. San Francisco, $825,400, 8.6 percent
5. Raleigh, N.C., $229,500, 7.5 percent
6. Austin, $188,200, 7.2 percent
7. Pittsburgh, $127,700, 6.1 percent
8. Seattle, $394,700, 6 percent
9. San Antonio, $154,700, 5.7 percent
10. Portland, Ore., $299,700, 5.2 percent

How to Negotiate Like a Ninja

当一个好的agent很重要的一点就是知道如果讨价还价。

Know your opponent. If you’re a listing agent, ask questions of potential buyers, such as how long they’ve been looking or how many offers they’ve made. If you’re working for a buyer, find out how long a property has been on the market and if there’ve been any price reductions.
Identify vital striking points. Know what your clients’ wants and needs are, and understand the difference between needs, which are must-have items, and wants, which are optional and so negotiable.
Adopt an effective posture. Enter the negotiating process with a friendly demeanor to set the tone for effective discussions.
Block an opponent’s move with your own. If a seller asks a concession from your buyer, for example, don’t agree without first asking for a seller concession in return.
Stay calm and mentally focused. Once negotiations have begun, “distance yourself from the battle, don’t get emotionally involved,”

Maybeck plan4

周日带客户去看新房Maybeck的， 他们还是一套都没有卖掉。 而且那个plan4竟然还在中文报纸上登广告70.7K！ 马上打电话给YS, 她说还好没有买！因为上次我带他们去看房他们很动心这套，但是被我指出来院子朝向不好，他们后来就没有买。

这套虽然现在价格开的这么便宜，但是我也不会推荐给我的clients。 房子什么都好， upgrades一大堆，就是院子太小， 而且，最主要的是，朝北。 对于圣地亚哥来说，院子和房子的朝向是太太太关键了。 有人说我不在乎，圣地亚哥这个地方总是阳光普照，朝哪里还不是一样。 错！ 房子的朝向至关重要。买房时一定要看仔细。

'Roulette Economy' of 2007 Is Almost Over

对于房地产来说，一个是subprime greed ，一个是buyers’ fear。

REALTOR首席的市场分析员（看last name好像中国人呐， YUN（袁？）今天指出：2008 will be a healthy market for serious buyers。 我希望是。

Home prices nationally have declined by some 1.5 percent in 2007, which is "no big deal" after years of rapid appreciation, said Yun. In addition, he noted, there are still many markets such as Utah, North Carolina, and Tennessee that are appreciating and may even be undervalued.

Delinquency, Default and Foreclosure

最近市场上short sale和foreclosure一下多了很多。 这里说说到底什么是Delinquency, Default还有Foreclosure

我们讲，Mortgage 就是你一次性借银行的钱买房，然后每个月拿钱去还。下一个问题是如果你不还，或是还不起了，会发生什么事。这里面涉及到很多法律问题，而且各个州的规定不一样，我只能就一般的情况作一个描述。
如果mortgage borrower miss 了payment due date, 就被称为Delinquency。当miss 第一个月，就进入30 day delinquency的状态, 再miss 第二个就是60 day delinquency, 当miss 完第三个due date, 就统称90+ day delinquency。当borrower 90+ delinquency 之后，银行就会给borrower 一个 Notice of Default (NoD). 之后大概会有90天的Silent Period, 这段时间borrower 如果能补齐所有的back payment 和一些fee 的话，一切就可以回到normal。但如果borrower 不能的话，过了Silent Period, 银行就会再发一份Notice of Sale (NoS), 定一个买房的时间。最后就进入foreclosure procedure, 银行一般通过auction 把房子卖了。在房子被卖了之后，borrower 最多再住30天，就必须离开。

最后祝愿大家都能以合理的价格和利率买到自己的DREAM HOUSE.

Inventories Improve in October vs. September

Total listing of homes for sale declined 1.4 percent in October compared to September, But total listings at the end of October were still 18 percent higher than they were in October 2006 in 17 metro areas for which comparable figures were available. Big inventories are persuading sellers to accept less and they become more flexible now.

A picture is better than thousands words

For those not clear about boundaries: Click to see bigger image

Top 5 Markets Where Home Prices are Rising

The most recent S&P Case-Shiller home price index reveals what major metro markets are reporting rising and falling home prices.

5 Cities Where Prices Rose

Seattle: 5.7
Charlotte: 5.6
Portland: 2.8
Atlanta: 0.8
Dallas: 0.5

15 Cities Where Prices Fell

Tampa: -10.1
Detroit: -9.3
San Diego: -8.3
Phoenix: -8.0
Miami: -7.8
Las Vegas: -7.6
Washington, D.C.: -7.2
Los Angeles: -5.7
San Francisco: -4.2
Cleveland: -4.1
Minneapolis: -4.0
New York: -3.8
Boston: -3.6
Chicago: -1.3
Denver: -0.4

我家房子的照片上了10月28日的纽约时报

http://www.nytimes.com/2007/10/28/weekinreview/28odonnell.html?_r=2&oref=slogin&oref=slogin

更好玩的是照片上的人， 哈哈，是我爸妈的背影。

Maybeck的block party

今天在中文报纸上看到了他们的大幅中文广告。 他们最近还是一如既往的很aggressive的推销。

刚巧昨天晚上我们整个block开party 庆贺大家的房子都没事。 我们2条街各有10栋房子。 大家都谈起当初是怎么选中Maybeck的。 和builder一起work是都遇到过什么问题。 和他们聊天非常有收获。 有人说买新房时最好能和已经买了住进去的人聊聊， 听听他们的说法。 我也是这么建议给我要买新房的客户和朋友。 我有一个客户在我带她看过Model又带她去一个已经入住的房子里看之后说， 看样板房有很多的误导，哪些是default哪些是upgrade的option, 但是去看了入住后的房子又和房主聊一聊对她make decision非常有帮助。

做一个中立的agent?

Agent难道就是去和客户到房子那里去开门吗？我听自己的客户说他上一个房子用的一个很大牌的agent, 陪他看房子从头到尾都不说话，看过房子就问一句：要写offer吗？ 那么中立的agent, 虽然也一样花了一些时间陪你看房子，有意思吗？

大火之后的市场 Market after the fire

Boost or Continue slow down?

Here are the comments from people who think the market gonna boost:

1. The fires will boost the local economy by adding construction jobs. Over a 1000 homes need to be rebuilt.

2. The displaced people will need somewhere to live for the next 18 months. The rent market is already tight.A raise in rents could make buying seem a better idea.

3. This coupled with the 80,000 loans currently being restructured and a possible continued cut in the mortgage rates could soften the rate of decline in the market. While prices have been declining, most of us expected it to be at a much more rapid pace. Many of my friends are saying that it is looking like things are not dropping fast enough and feel all the bail out efforts might make this a time to buy. Basically, they feel that the system of survival of the fittest within capitalism has been breeched by all of the bail out efforts. Basically in this country, there are no consequences for foolish decisions.

I agree with 1&2. Those are pretty much the facts. About 3...it's really hard to say. Many homeowners are in financial trouble now. That will certainly impact today's market.

节约用水！Water Conservation

今天带客户去看房，旁边一老太太用hose冲她家的草坪，也就罢了。 之后就开始洗她的driveway. 我眼睁睁看着她浪费水还是没有勇气去和她说一下。 为什么有的人节约用水的意识那么差？ 就算是水白来的，也不要浪费，别说现在加州的水多金贵啊。

昨天我发到我们社区的bbs上面的帖子。有很多人跟贴，补发在这里也。 希望有更多的人能自觉的减少用水。

By Connie Zhao:
San Diego imports more than 85% of its water. Every drop is precious even without this fire. I would suggest that everyone in our community try our best to conserve water. I know there are already many people doing so and let's share our tips of water conservation here. What we do in our family is we use a small bucket to collect water when we wash fruits and vegetables.Then dump the water into a big bucket. When its full we use it watering plants in the yard. It may not seem very convenient but you will be amazed that how much water you can save this way. I also found some tips here: http://www.sandiego.gov/water/conservation/tips.shtml

By Gena Barney:
regarding water conservation... i was VERY surprised to see a home owner on 4S Ranch Parkway (just a couple of houses north of Lone Quail on the east side of the street) with his screens off of his windows and washing them down today in the front yard...There has ONLY been talks about water conservation for days and to use water for something so trivial, that could definitely wait. I felt it was very selfish and short-sighted.

By Jessica Berlin:
Hi everyone,The San Diego County Water Authority has challenged everyone in the county to save 20 gallons of water every day. Here's the website: http://www.20gallonchallenge.com/.Please do everything you can to save water.

By Sharon Siu:
Good topic! Here's what we do: 1. Turn off water when brushing your teeth2. Water less minutes if possible.. decrease each station time by 1 minute, and then check in a week to see if grass is as green. If it is, decrease it by another minute until you see a color difference! =) We safed ALOT of water doing so!! We saw a drop in our water bill!

That's enough

看电视采访一个Ramona的farmer. 他说： “We have land, we have people, that's enough."

Shelter in place

Here is a fascinating fire protection strategy that may have
contributed significantly to our immediate neighborhood's survival in
the wildfire:
http://www.signonsandiego.com/uniontrib/20071025/news_1n25stay.html

4S Ranch: County and City Boundaries

All of 4S Ranch developed by Newland Communities is within the county of San Diego.

Within the community of 4S Ranch developed by Newland Communities, we are surrounded on three sides by the city of San Diego; the southern boundary is where Bernardo Center Drive turns into Carmel Valley Road. (Carmel Valley Road is a city road within the city limits.) At least one resident, Karen, began calling the sheriff and our county supervisor Bill Horn's office to try to clear up the confusion yesterday afternoon. Bill Horn's office verified that we are indeed in District 5 of county jurisdiction. In the map below the purple area is the city of San Diego that surrounds us, the green to the north and west is the county of San Diego, District 5. I added the pink line to show the boundaries of 4S Ranch developed by Newland.

San Diego Fire

I hope everyone is safe...

I just back home this afternoon. The houses in 4S ranch area are all fine. The sky is clear and air quality is good. It certainly nice to be back at home. We stayed at a friend's home in Ivrine and I really missed San Diego.

经过这次大火，可能很多人包括我自己就更明白什么是生活中最重要的了吧？就买房子而言，一定要把地势放在一个更重要的位置了。具体的分析明天再来写，现在真的很困很困了。晚安～

Carmel Valley Mello Roos

CARMEL VALLEY IS A MELLO-ROOS DISTRICT IN CERTAIN DEVELOPMENTS*
THE AMOUNTS BELOW ARE SHOWN ON THE ANNUAL PROPERTY TAX BILL AS CFD #1
SPECIAL TAX FEES MAY INCLUDE THE FOLLOWING:

HOUSING SIZE - SQ. FT.	ANNUAL MAXIMUM SPECIAL TAX
2,500 and ABOVE	$1,244
2,250 to 2,499	$1,131
2,000 to 2,249	$1,018
1,750 to 1,999	$905
1,500 to 1,749	$791
1,250 to 1,499	$678
1,000 to 1,249	$565
0 to 999	$452

* Mello-Roos Assessments on residential properties built after 7/1/88

Arabella

我有2家客户他们同时喜欢上了Arabella. 地理位置没话讲。 学区也非常好(San Dieguito Union High School and Solana Beach School Districts )。05年的时候当选为Sustainable Community of the Year。

Arabella 的房子基本上都是有Energy Star® 可以省电省气。很多的Living Smart features are automatically included an energy-saving 50-gallon water heater, a GE Energy® photovoltaic roof panel system on all ‘California Ranch’ exteriors, fluorescent lights, engineered high-performance lumber and spectrally selective glass for increased energy efficiency and reduced fabric fade.

我觉得Pardee homes挺有眼光的。 很多年以前就看中了Carmel Valley这片地皮， hold了这么这么地久。 然后盖房很Green. 很适合能afford这个价位的人群的需要（比较environmental sensitivity and energy-conscious 的人群）。

Arabella从一开始就是从Mid70万起价的。 3个plan range from 2,007 to 2,453 square feet。

Pardee建整个的Pacific Highlands Ranch master-planned community, 现在已经建好了活动中心（recreation center）， 我朋友的妈妈很喜欢， 每天去里面运动游泳:)。 另外还有今后要建的multi-use trail system for hiking and biking, an intranet and a Village Center with a complement of everyday shopping conveniences.

总之这个new construction是我比较推荐的。 不过价格是从05年到现在一路在上涨。 现在PLAN3的价格是86万as of 10-22-07。 有兴趣想了解更多情况请和我联系。 买new construction我算是很有经验的了。一定可以给你提供很多宝贵的意见。

Making the Grade

Elementary Schools:

Carlsbad Unified

Number of schools: 9 elementary, 3 middle, 1 high school, 1 alternative, 1 small
Top schools: Kelly Elementary, enrollment 662, API base score 932;
Pacific Rim, enrollment 839, API base score 908

The district’s student enrollment for September is projected to be 10,601——a 0.5 percent increase over last year. Poinsettia Elementary, the new $16.2 million campus, will open this fall and relieve overcrowding at Kelly and Aviara Oaks elementary schools. In east Carlsbad, Poinsettia Elementary will serve students in kindergarten through fifth grade from Bressi Ranch, La Costa Greens, Cantamar and surrounding communities.

Del Mar Union
Number of schools: 8 elementary
Top schools: Ashley Falls Elementary (grades K-6), enrollment 551, API base score 956;
Sage Canyon Elementary School (grades K-6), enrollment 769, API base score 965;
Carmel Del Mar Elementary (grades K-6), enrollment 491, API base score 913;
Del Mar Heights Elementary (grades K-6), enrollment 462, API base score 946;
Sycamore Ridge (grades K-6), enrollment 380, API base score 921;
Torrey Hills (grades K-6), enrollment 784, API base score 950

The Del Mar Union School District, serving Del Mar, Del Mar Heights and part of Carmel Valley, has grown from two to seven schools since 1992. About 3,800 students are served. The new Ocean Air School is scheduled for completion in the fall. Del Mar Union has the highest district API base score in the county (939).

Encinitas Union
Number of schools: 9 elementary
Top schools: El Camino Creek Elementary (grades K-6), enrollment 911, API base score 939;
Flora Vista Elementary (grades K-6), enrollment 519, API base score 937;
La Costa Heights Elementary (grades K-6), enrollment 617, API base score 905;
Mission Estancia Elementary (grades K-6), enrollment 570, API base score 924;
Olivenhain Pioneer Elementary (grades K-6), enrollment 722, API base score 937

One of five elementary school districts that feeds into the San Dieguito Union High School District, Encinitas Union serves 5,647 students in Carlsbad, La Costa and Encinitas neighborhoods. All of its schools have been recognized as California Distinguished Schools, and La Costa Heights School and Olivenhain Pioneer have been recognized as National Blue Ribbon Schools. Mission Estancia was recently selected to apply for one of the 2007 National Blue Ribbon Schools recognitions.

Poway Unified

Number of schools: 23 elementary, 6 middle, 4 high schools, 1 continuation
Top schools: Adobe Bluffs Elementary, enrollment 711, API base score 911;
Chaparral Elementary, enrollment 802, API base score 923;
Creekside Elementary, enrollment 785, API base score 959;
Deer Canyon Elementary, enrollment 580, API base score 945;
Los Peñasquitos Elementary, enrollment 574, API base score 905;
Painted Rock Elementary, enrollment 607, API base score 920;
Park Village Elementary, enrollment 805; API base score 938;
Rolling Hills Elementary, enrollment 390; API base score 913;
Shoal Creek Elementary, enrollment 653, API base score 903;
Turtleback Elementary, enrollment 549, API base score 904

The third-largest school district in the county, Poway Unified serves more than 32,000 students. All-time highs in API and AYP were achieved in 2006. Monterey Ridge Elementary, the newest school in the district, opened in August 2006. Two more elementary schools and a high school are planned to open by 2010.

Rancho Santa Fe
Number of schools: 1 elementary, 1 middle
Top school: R. Roger Rowe School (grades K-6), enrollment 621, API base score 944

Rancho Santa Fe School District began with a single schoolhouse in 1905 and today educates 831 students, kindergarten through eighth grade. Rowe Middle School is a top performer and included in our middle school section. The district recently posted a parent survey that addressed overcrowding and the need for another school.

San Diego Unified Eugene Brucker Education Center,
Number of schools: 114 elementary, 23 middle, 27 high schools, 34 charter, 18 alternative
Top schools: Benchley Weinberger Elementary, enrollment 550, API base score 906;
Bird Rock Elementary, enrollment 473, API base score 941;
Curie Elementary, enrollment 591, API base score 921;
Dingeman Elementary, enrollment 842, API base score 932;
Hearst Elementary, enrollment 410, API base 920;
Jerabek Elementary (year-round), enrollment 832, API base score 921;
La Jolla Elementary, enrollment 522, API base score 912;
Ellen Browning Scripps Elementary, enrollment 539, API base score 924;
Sunset View Elementary (grades K-4), enrollment 398, API base score 901;
Torrey Pines Elementary, enrollment 395, API base score 919

The second-largest district in California and eighth-largest urban district in the United States, San Diego Unified School District serves 132,482 students. The diverse student population represents more than 15 ethnic groups and more than 60 languages and dialects. Laura Rodriguez Elementary School, Florence Griffith Joyner Elementary and Thurgood Marshall Middle School will open this year. Lincoln High and Burbank Elementary were recently rebuilt and will reopen this month.


Solana Beach

Number of schools: 6 elementary
Top schools: Carmel Creek (grades K-4), enrollment 673, API base score 954;
Solana Highlands (grades K-4), enrollment 730, API base score 948;
Solana Pacific (grades 5 and 6), enrollment 472, API base score 952;
Solana Santa Fe Elementary (grades K-6), enrollment 457, API base score 939

The district currently serves about 2,700 students at six elementary schools. Pacific Highlands Ranch, a seventh school, is in the planning stages. All of the eligible schools are California Distinguished Schools and exceed the 800 API achievement target.

Middle Schools
Poway Unified
Mesa Verde Middle School (grades 6-8), enrollment 1,390, API base score 901
Rancho Santa Fe
R. Roger Rowe Middle School (grades 7 and 8), enrollment 171, API base score 921

San Dieguito Union High
710 Encinitas Boulevard, Encinitas
760-753-6491
Superintendent: Peggy Lynch, Ed.D.
Number of schools: 4 middle, 3 high schools, 1 alternative, 1 continuation, 1 small
Top schools:

Carmel Valley Middle (grades 7 and 8), enrollment 1,352, API base score 939;
Earl Warren Middle (grades 7 and 8), enrollment 570, API base score 905

The San Dieguito Union High School District enrolls about 12,000 students in Encinitas, Solana Beach and Del Mar and also serves unincorporated neighboring areas such as La Costa, Olivenhain, Rancho Santa Fe, Fairbanks Ranch and Carmel Valley. Students from those districts matriculate through the district’s middle and high schools, with the exception of those from the Rancho Santa Fe School District, who begin as freshmen.

Short sale from seller's side

Short sale is a method of disposing of your home without having the lender foreclose on you. Is an arrangement with your lender whereby they will allow you to sell the property for less than the amount of the current mortgage.

Let's take this example: you bought the house last year for $500,000, and foolishly took advantage of the mortgage broker's sales pitch and obtained a 100 percent loan. Now, the house will probably only sell for $475,000, and you lost your job and cannot afford to continue with the monthly mortgage payments.

Why would a lender permit this? First, you should understand that not all lenders will allow a short sale. Their decision depends on a number of factors: where is your house? how much loss will the lender suffer? What is the possibility that a speculator/investor will buy at a foreclosure sale?

Lenders have their own requirements, so I can only provide general information; The sellers will have to consult the specific lender to determine what they need in order to move forward with the short sale process.

The first step is to contact your financial and legal advisors. Do not contact the lender until you fully understand the potential risks involved. Under Federal law, when a debt is forgiven, it can be treated as ordinary income on which tax must be paid. Thus, if your lender allows you to sell the property to $475, less a 2 percent commission, you will pay off your $500,000 mortgage and have a deficit of almost $35,000. According to many tax professionals, you will have to pay income tax on this amount even though you did not actually receive the money.

Furthermore, you want to make absolutely sure that even should the lender approve the short sale, you will not be obligated to make up this difference, which is called a deficiency. Unfortunately, most lenders will not put their agreement in writing, so your legal advisors will have to satisfy themselves -- and you -- on this matter.

In fact, many lenders have been known to use this "forgiveness of debt" issue as a way of dissuading their borrowers from pursuing the short sale approach.

After you are satisfied that you understand the concept and are prepared to move forward, you should contact your lender. Go up the corporate ladder as high as you can and talk with the manager of the short sale department. Typically, the lender has a "loss remediation" department that handles these matters.

If you have authorized your attorney or your real estate agent to act on your behalf, the lender will need a letter of authorization from you. The Privacy Laws enacted after 9-11 prohibit lenders from discussing personal and financial information with a stranger without such written authorization. This letter will include your name, property address and loan number.

You (or your agent) should then prepare a comprehensive letter explaining why you are requesting the short sale. Emphasize -- but not as a "sob story" -- your hardship. It would also help if you include a market analysis which will show what houses in your area are currently selling for. And finally, spell out your request in detail: what price are you asking the lender to approve, what percent commission will the real estate agent be allowed to accept, and what closing costs will be associated with the settlement. Keep in mind that in many jurisdictions, there is a recordation and transfer tax which is typically split between buyer and seller.

Your proposal should be as specific as possible. You don't want to learn at settlement that you still have to come up with a lot of cash, because your lender did not authorize certain out-of-pocket expenses.

You should also request from your lender the amount of your outstanding balance. The lender has a legal obligation to provide this to you on request, and the burden is on the lender to provide an accurate accounting. Review this carefully to make sure that there are no charges which have been erroneously added. If you have missed some payments, you will be assessed late fees. When you present your proposal to the lender, try to get these charges deleted from the amount of the outstanding mortgage balance.

Your proposal should also include your financial situation. Keep in mind that many loans in the past few years were what are called "no-doc" -- in other words, the lender made the decision to fund your loan based on the value of the property and not on your financial status. In your case, since you lost your job, include proof with your letter.

The more documentation you can provide the lender, the faster the decision will be. However, currently lenders are swamped with these requests, since you are not the only one facing a possible foreclosure.

Thus, the earlier you can start the process, the better chance you have of getting it approved.

But the lender's approval to proceed with a short sale does not end the process. When you or your real estate agent find a prospective purchaser, the contract must state that it is contingent on lender's approval. You have to send the contract to the lender, and it would help if you would include an accounting of all expenses which you will have to pay at settlement, and a final number that the lender will receive when settlement takes place.

In fact, if you can have a HUD-1 settlement statement prepared, this would be helpful and would expedite the process. Your lender will then review the documentation, and may reject certain expenses. For example, if the contract provides that you will give your buyer XX dollars for "closing costs" -- or that you will pay some items which are traditionally the buyer's obligation (such as title search and survey) -- the lender may not allow such payments.

You want to go into the settlement knowing exactly all of the terms and conditions on which your lender will accept the short sale, including whether or not you will have to come up with money at the settlement table.

You are in financial trouble. If you have already missed some payments, your lender may already have reported this information to the credit reporting companies. You should try to convince the lender not to report any more delinquencies, but unfortunately, that's in your lender's sole discretion.

The short sale process works, but is complicated, time-consuming and uncertain. If you can start now -- before you are actually in default -- you will be ahead of the game.

小转机？

今天股票涨了， 大家都乐了。 联储出来了， 布什出来了。

Let's just wait and see.

和房子无关

今天看了NHK拍的《激流中国。 不要先急着说小日本拍的东西一定丑化中国的，毕竟是记录了中国媒体不能展示的东西，相当值得一看的。 （这个documentary series 其实是NHK里面一个中国人拍的。but he doesn't get credit） 这个片子是今年拍的，国内早就传遍了。 在美国反而什么都后知后觉。很多人看这个纪录片都是含泪看的。我也不例外。 大概半年前还看过一个BBC拍的《China》也是一样很感动也很难受。

辛酸。 当我们都在美国为生活奔波的时候， 可能你根本不可能为你的国家做任何事情。 但至少你可以做的， 是关注。

Second Quarter Home Prices Fall, More Expected in Coming Months

Second Quarter Home prices fall record 3.2% nationally, San Diego: -7.3%

WASHINGTON (MarketWatch) -- U.S. home prices fell at a faster rate in the second quarter, down 3.2% compared with the same period in 2006, Standard & Poor's reported Tuesday.

It marked the largest year-over-year decline ever recorded in the 20-year history of the Case-Shiller home price index. A year ago, home prices were rising at a 7.5% pace nationally.

In an interview with MarketWatch, Shiller noted that the figures were for activity ending in June -- well before the more recent blowup in the mortgage markets.

"We are fast approaching the rate of price decline seen at the end of the 1990-91 recession, and the odds strongly favor blowing past this mark in coming months," wrote Joshua Shapiro, chief economist for MFR Inc. "With supply overhang growing and mortgage financing tougher to obtain, home prices are going to soften considerably further in the quarters ahead."

Cities covered by the Case-Shiller index, ranked from worst to best:
Detroit, down 11%: Tampa, Fla., down 7.7%; San Diego, down 7.3%; Washington, down 7%; Phoenix, down 6.6%; Las Vegas, down 5.1%; Miami, down 4.8%; Los Angeles, down 4.1%; San Francisco, down 4%; Minneapolis, down 3.8%; Boston, down 3.7%; Cleveland, down 3.6%; New York, down 3.4%; Denver, down 1%; Chicago, down 0.7%; Atlanta, up 1.6%; Dallas, up 1.6%; Portland, Ore., up 4.5%; Charlotte, N.C., up 6.8%; and Seattle, up 7.9%.

美国次贷危机，夏天小菜一碟 (zhuan)

Analysts are giving all kinds of advice/comments toward the current situation.

Here is a good article which is really intersting. My thoughts ~ all these conclusions got one assumption: job market remains still.

此次美国的次贷危机，除了大陆这个金融怪胎，全世界的股市都在跟进，牵连了世界主要的资本国家，更有专家大声警告小心 70-80-90 年代的全球金融大危机要降临了！可是我为什么说它们是夏天的清凉小菜一碟呢？　　危机，就必有大损失，没有大失，何来危机！　　
1. 次贷在美国的房贷市场中，从 1995 年 650 亿的 9% 佔有率，到去年的 6000 亿的 20% 佔有率，换句话说，三万亿的房贷中，只有五分之一是次贷贡献的。美国 GDP 去年在 13 万亿左右。　　
2. 这 6000 亿的次贷，以平均 20 万一套房价，应该大概有 300 万户，但实际统计在 200 万户，也就是只牵扯到 4000 亿资金。而且美国的实际房产，目前状况只是不涨，小跌一点点而已，毕竟房产尚在，不象股票大危机出现的现象。　　
3. 4000 亿的概念（ 6000 亿也罢），对美国几十万亿的金融市场来说，可不是小菜一碟吗！历来的全球金融风暴，不都是以几万亿，十几万亿的损失来收场的吗！　　
4. 如果这 4000 亿的次贷全部成了呆帐，也不会象股灾一样化为虚有，而是都变成了实实在在的房产！美国的房产周期，应在 10 年以上。房产涨幅超过通货膨胀率，还可以出租。 4000 亿的次贷，绝对一分钱也賠不了！有趣的是，这 4000 亿的次贷，可能有一半以上被外国资本所购！ 这就是我为什么说，次贷危机对美国是小菜一碟呢。在金融游戏里，美国也是无人能比的老大哥。　　
5. 活钱变成了不动产的房产，即使不赔钱，也等于掐住了金融界的七寸！没有活钱去转，金融界不死才怪呢。所以美国联储也祭出了双刃上方宝箭：降息和注资，不象以往都是单枪匹马去救驾。美国不到 1000 亿的注资（到 8/21 为 975 亿），也告诉了百姓，其他 3000 亿的次贷，都已转移到外资手中，全靠几年来，华尔街的 信贷评级机构（罪魁祸首），给这些次贷公司冠扣上了 a 级， aa 级的乌纱帽！这不，世界上的主要金融大国，不都在积极赶印钞票吗！　　6. 降息是让优质的房贷更好更快地进行，是恢复美国房市的强心剂。联储手中的余地还大着呢，这不也在向几个月前的中国学习，将贷款和存贷利率反向拉开吗。房贷低，有利房产复苏；存率其它商业贷率高，有利抑止通货膨胀。美国又是首屈一指的移民大国，一两百万件的次贷房产，开开后门，光大陆的款爷还不够分的呢，又能降低贸易赤字，还是一把双刃箭。　　7. 这 200 万“次贷”的百姓，有多少是属于投资性质（ ARM ）和挺不过难关的？本来他们从投资一开始，就过着山顶洞人的生活，停止付款后，无债一身轻，生活和消费都会成倍好起来，只能增加消费量。破产对他们无济于事，投资房子被收走，也不等于失业，白交了几年学费。至于大众的消费信心和指数，政府能象我这样，公开损失真相，罚办几个信贷评级机构的头头和改组一下，再给那些资金被冻结 的外资财团（外国政府已经向他们注资了）一点优惠政策，就全搞定了。　　8. 道琼指数，以往大部分年景，是夏季比圣诞节要低 10% 左右，是那些佔主流的保守资金，赚钱的法宝。可是今年夏初就是降不下来，年底圣诞节还能冲到哪里去？次贷毛病去年就显出来了，三月份，涉案公司就损失惨重，对市场没有太大的影响。 4000 亿变成不动产，不算什么危机！ 于是乎，华尔街一阵紧锣密鼓，拿次贷说事，道琼就跌了 10% ，所以我说是“夏天的”清凉小菜一碟！不过这盘小菜也太贵了些。华尔街的次贷游戏，快该收场了，秋天不是又要来了吗。秋至满山多秀色，夏来无处不炎酷！

Farmers' Markets?

TUESDAY

Coronado - 2:30 to 6:00 p.m.
Old Ferry Landing at First St and B Ave


Escondido - 2:30 to 6:00 p.m. (4:00 to 7:00 p.m. in Summer)
Grand Ave between Juniper and Kalmia St
Website: http://www.downtownescondido.com/events/farmers_market

UCSD/La Jolla - 10:00 a.m. to 2:00 p.m. (September thru June)
UCSD Price Center near the bookstore at Lyman Lane and Library Walk

WEDNESDAY

Carlsbad - 1:00 to 5:00 p.m.
Roosevelt St between Grand Ave and Carlsbad Village Dr
Website: www.shopcarlsbadvillage.org/events/farmersmarket.html

Ocean Beach - 4:00 to 7:00 p.m. (4:00 to 8:00 p.m. in Summer)
4900 block of Newport Ave between Cable St and Bacon St

Temecula - 9:00 a.m. to 1:00 p.m.
Promenade Mall accross from Edwards Theatres
Website: http://www.temeculainformation.com/farmersmarket/Farmers_Market.htm

THURSDAY

Chula Vista - 3:00 to 6:00 p.m. (3:00 to 7:00 p.m. in Summer)
Downtown Chula Vista at Center St and Third Ave

Horton Square/San Diego - 11:00 a.m. to 3:00 p.m. (March thru October)
Downtown San Diego at 225 Broadway and Broadway Circle

North Park - 3:00 p.m. to Sunset
CVS Pharmacy parking lot at University and 32nd St

Oceanside - 9:00 a.m. to 1:00 p.m.
Coast Hwy and Pier View Way

Oceanside - 5:00 to 9:00 p.m.
Tremont and Pier View Way

Tierrasanta - 3:00 to 7:00 p.m.
De Portola Middle School at 11010 Clairemont Mesa Blvd and Santo Rd

FRIDAY

Borrego Springs - 7:00 a.m. to Noon (November thru June)
Christmas Circle Community Park at Christmas Circle and Palm Canyon Dr

La Mesa - 3:00 to 6:00 p.m.
8300 block of Allison Ave east of Spring St

Rancho Bernardo - 9:00 a.m. to Noon
Bernardo Winery parking lot at 13330 Paseo del Verano Norte

SATURDAY

Carlsbad - 9:00 a.m. to 1:00 p.m.
Roosevelt St between Grand Ave and Carlsbad Village Dr
Website: www.shopcarlsbadvillage.org/events/farmersmarket.html

Del Mar - 1:00 to 4:00 p.m
City hall parking lot at Camino Del Mar between 10th St and 11th St

Pacific Beach - 8:00 a.m. to Noon
Promenade Mall on Mission Blvd between Reed and Pacific Beach Blvd

Poway - 8:00 to 11:30 a.m.
Old Poway Park at Midland Rd and Temple

Scripps Ranch - 9:00 a.m. to 1:00 p.m.
Ellen Browning Scripps Elementary School at Scripps Poway Parkway and Spring Canyon Rd
Website: http://www.scrippsranchfarmersmarket.com/

Temecula - 8:00 a.m. to 12:30 p.m.
Old Town Temecula at 6th and Front Street
Website:http://www.temeculainformation.com/farmersmarket/Farmers_Market.htm

Vista - 7:45 a.m. to 11:00 a.m.
City hall parking lot at Eucalyptus Ave and Escondido Ave

SUNDAY

Hillcrest - 9:00 a.m. to 1:00 p.m.
DMV parking lot at 3960 Normal St and Lincoln St

La Jolla - 9:00 a.m. to 1:00 p.m.
La Jolla Elementary School at Girard Ave and Genter
Website: http://www.lajollamarket.com/

Leucadia/Encinitas - 10:00 a.m. to 2:00 p.m.
Paul Ecke Elementary at Union St and Vulcan St

Third Avenue/San Diego - 9:00 a.m. to 1:00 p.m.
Downtown San Diego at Third Ave and J St

贷款市场危机

Past weeks mortgage market has been a real mess.

一家家的贷款公司都要么关门大吉， 要么就提高要求， 要么就裁雇员。。。每天一读财经新闻就心慌慌啊。 到上周五为止已经有1万3千人被裁员了。 还有传闻说Warren Buffett要买Countrywide。

看了很多分析家的分析， 我觉得圣地亚哥这里还是有希望的。 只要这里的工作机会还是会继续增长。

上周我的小偶像之一 Cramer让大家买Wells Fargo, 听起来不无道理。 他相信这个危机总会过去， 到今年年底左右。

买房的同学们， 还是先hold on.

Short Sale & Foreclosure

如果借贷人接的数目高于房子的市场价值，他本身也没有能力再偿还了。 他就可以和银行协商要求银行允许他做short sale.

具体做饭是借贷人卖出房子， 把贷款给还上。

借贷人先要和银行达成协议， 银行可以接受比欠款要低一些的short sale金额。
目前报纸上网络上到处出现的2个term. 很多人还是搞不清楚。 有很多人问过我到底什么是Short Sale & Foreclosure。 我在这里解释一下。

Short sale比foreclosure好的地方就是影响到credit score的多少。 short sale要减去80-100分。 Foreclosure要减去很多， 一般250-300左右。 所以如果银行同意的前提下， seller都要先short sale.

Foreclosure对银行来说就是更差的选择了。 一方面是expensive， 一方面是own houses也不是银行的business, 银行是最不愿意手里Hold一大堆房子了。

对房主来讲， short sale要提供一系列的证明来证实你的的确确是没钱。 （prove financial distress）而且大多数的银行都会要求房主还要付欠债和卖价的差额。如果是lender “forgives” the debt, 就叫做debt forgiveness. 那要小心了， IRS出现了，IRS会把整个debt forgiveness的数额作为你的收入上税。 具体的要问你的CPA for tax advice。

Rancho Bernardo, CA Market Update for July 2007

All date are from Ziprealty.com.

Here are the latest real estate market statistics for Rancho Bernardo, CA area. These numbers represent single family home (SFR) sales only. Percentage of homes on the market with the asking price had been reduced: 41.5%*

Asking Price 六月$640,000 七月$696,158 增长8.8%
Sales Price 六月$633,711 七月$682,365 增长7.7%
$/SQFT 六月$309 七月$319 增长3.2%
Days on Market 六月50 七月60 增长20.0%
Total Transactions 六月120 七月140 增长16.7%

New construction activities lowest in late 10 years

最近市场绝对是买方市场。 Builder的股票一直掉， 7月份全国的新房是近10年来最低的。

A piece of cake

Euro Cake Gallery

Edelweiss Bakery

贷款市场风云突变

大家都看到了。 利息一天天的上涨。 联储出来了， 表示他们知道了， 就进去了。

这市场， 情况难料啊。

建议大家hold on 买房， 先观望一下再说。

一个房托07年7月的文章

Let's see after a few years if inflation would come like this article predicted.

就像油价，德州人仰视加州的油价，觉得不能活了。
加州人一问欧洲，亚洲的油价，再考虑到购买力因素和收入因素，心里立刻就阿Q了，平衡了。

湾区房价从数字上来看是比较贵，但是数字是相对的。

湾区再贵，能贵过NYC Uptown 的哪怕是70年旧的Condo么？
再贵，能贵过Hawaii海边房子么？（上次去MAUI,看了一处Open House, 一套很小的2-bedroom Condo,开价1.4
Million, 而在Honolulu离Waikiki还有一大段路的Condo,
几年前就开价70万，而当时Mission San Jose比那里大得多的Single Family House才要60多万）

贵？能贵过北京什刹海四合院？

再往回看，20多年前，父母一个月工资50-100人民币，当时想我长大了如果能挣200元就厉害了。90年代初，我算了算，一个月1000多元，就可以满足了。谁想到现在连老师，公务员都可以挣到5000元月薪？在北京上海这点工资连小康都算不上。

看看北京五环外的城乡接合部的业主们，月薪5000元就得养将近100万的Condo,
这个比例换到湾区，就是说月薪5000美刀（年薪6万）的人要在Gilroy, Tracy, Antioch等地养1百万美刀的Condo, 我已经觉得很知足了。

好地方总有人趋之若鹜，有钱人总是越来越多，所以不是地方不好，而是自己钱包太小。就像北京上海，你说他房价贵，可好地段的房子经常是你有钱都买不到--总有比你有钱的人。

再如东京，巴黎，伦敦，房价贵不是这几年的事情，这么多年虽有起落，但还是贵，因为地方好，地理位置好，俄国石油大亨有钱了，去伦敦；老印发财了，去伦敦；咱老中有先富起来的，也去伦敦，你说伦敦房价能不起来么？我要发财了，也到巴黎买个Condo。

就像山西矿主发财了，集体进京买别墅，买房子，那房价能不贵么？

所以不是湾区房价贵，而是美国这么多年来的低廉的房地产成本把大家惯坏了，觉得便宜是应该的。不想想美国世界第三，第四大（和中国争老三好多年了，因为老美不把台湾算进去）的陆地面积，可用面积就更大了（相比中国国土绝大部分是高原，沙漠，山地），几年前才2亿多人，所以有的是地，像Houston,骑马跑出去一整天都是没人的平地，所以不断的盖房子，房价也总也不涨。

但是好地方先被人占了，人类还是聪明的，先开发占领地理位置最好，气候最好的地方，所以这些地方的可用地就越来越少。总不至于，人类先开发新墨西哥沙漠，然后开发Oklahoma,
South Carolina,最后才开发加州吧？

地少人多，供不应求，房价自然要反映这个事实。

所以还是我们挣的少。一个例子：比如湾区的Fremont,几年前都是老中把房价炒高，原住的老美蓝领，老黑，老墨，发着我们现在一样的牢骚，说湾区房子太贵，没法呆了，所以他们只好租房，租不起就往北移Hayward,San
Leandro,Oakland，再往湾区以外移，甚至到外州，不是说加州房价太高了，湾区不好，而是对他们的收入水平来说太高了，是被迫的，不情愿的。
---因为老中那几年凭任劳任怨的苦干，靠技术比他们卖体力的多挣了一点点钱。
可是这两年，同一地区把房价炒高的多是老印，也不是说湾区怎么了，而是老印几年来，大量的从搞技术，成功转型搞管理，老中绝大多数还在老老实实琢磨怎么把白领技术工人的工作做好，挣每个月的月薪养房子，几年下来老印都成管理阶层了，挣的相对比你老中多了，每年多好几万，年终奖金也是你的几倍，股票也比你多，他们买1百万的房子相当于我们以前买50-60万的房子，所以你说是湾区房价贵了？还是我们挣钱相对少了？---通货膨胀了，美元贬值了，所以还是钱不当钱，缩水了。

再过几年，也许老印也不灵了，出来一堆纳米人才，金融人才，跨洋贸易人才，如果我们没加入他们，那么最好随大流，搞技术的，还是回亚洲，等亚洲发达了，搞技术的没准儿随大流，到非洲去了。

所以湾区这么好的地方，房价并不贵，只是适合我们普遍老中收入水平的房子越来越少。当然你也可以阿Q一下，比如去NewMexico,甚至Idaho,你花一点钱就可以一次性买下一个大豪宅，和一大片地，但你有的只是房子，和地，其余湾区的好东西，和种种方便都享受不到了。就如同，我在北京，我不要我的房子了，我跑到河北某县，住大房子，买农家地，出门5分钟就是麦地，我一年才去一趟北京，这两种生活质量当然也不具可比性。当然有人是隐士，喜欢这样偏远地方的宽大生活，那另当别论。

所以根本还是本身工作专业与收入和房价的矛盾，老中，尤其受过教育的老中，尤其受过特别多教育的老中，还特别不具备发财必须的冒险精神，放弃过去的勇气和灵活适应现实环境的能力。

我见到有些冒险精神的老中，或者特别灵活的老中，这几年纷纷发达了。所以湾区好，不能光看着好，也要拿出点本事立足，IT饱和了，别的机会又来了。就看你抓不抓得住！当你有钱了，你就不觉得房价高，甚至你还希望它再贵点儿，门槛儿再高点儿！


湾区是个好地方，房价高么？也许，但我觉得他值这个价，如果有钱了，我还会投湾区，一买俩房，租一个，空一个，赫赫。


另：我个人观点，如果除了湾区，北美我还会选择到哪里生活居住？

南加-OrangeCounty,离LA中心不远，需要了随时可以去购物，娱乐，南加的娱乐，户外运动都在2小时车程内，但是治安，交通，市容，教育都不错。虽然气候，自然风光，景色都不如湾区。（没选San
Diego, 因为对老中来说还是寂寞了些，保守了些，中国人也少，中餐馆少，大华才一家）

Van Couver-CANADA，不错，就是气候凉一些，而且最好是挣了钱以后再去，房价也高，文化事业稍逊教育科研也少一些。

Austin-Texas, 还可以，但是还是小城市，很多娱乐，购物的机会都少，比德州其他几个城市凉快一些，但是夏天还是尽量呆在室内为妙。老中有关的生活服务设施太少。

其余的很多地方，要么气候不好，要么治安不好，要么排外，不适合老中居住，要么中国人需要的服务设施太少。


如果有人问我？如果你今年才毕业，要不要到湾区来？答案--一定，买不起房我租房，房子只是生活的一部分，而不是全部； 工作也只是生活的一部分而不是全部。

那么也许我会摸摸自己的钱包，然后琢磨如何转行，如何赚更多的钱。

人总是不满足的，所以我们才跑到这里来。20-30年前，大家都挣的差不多，但是你发现有人占有的资源比你多，是因为权利，所以那时的人奋力读书也好，奋力工作也好，多数人就是想有朝一日自己往上升，能够有点权力来得到一定资源。

10几年前，大家发现金钱财富更有吸引力，大家又开始八仙过海各显神通。我也是那时觉得如果念书好，就可以出国，读了好学校，拿了学位，就可以有好工作，也就是说我可以多挣些美元了----看，转了一圈还是回到挣钱来了。所以想想也有意思，拨开表面的什么兴趣呀，抱负呀，理想呀，往往不情愿的发现赤裸裸的内心还是个芸芸众生，为利来，为利往。这么想就没什么了。所以还是要来湾区，为什么？因为你每天看到这么多比你有钱的人，你才会不满足于现状，才有奋斗的动力，这才是进步的驱动力！

不来湾区，也许觉得自己已经混得不错了，满足感一来，奋斗感就没了。最后这辈子也就这样了。

所以我觉得湾区房子还会涨，地没了，就紧凑些，紧凑都没地了，就往空中发展，就成真正的Metropolitan了，那Metropolitan郊区的有土地的房子就更要涨了。没看见旧金山的新改造计划，BayBridge以南要盖一大片摩天楼，都比那个金字塔形的大楼高出许多。Genentech/Amgen,这最大的两家生物技术公司，都在SouthSan
Francisco买房置地，而且要几千几千的招人。湾区地不够呀！

Room addition

I thought this would be interesting for those people who are thinking about get the ranch house or smaller house (old ones) and do a room addition later.

http://www.kuraoka.org/addition.html#room%20addition

This article is full with details about the whole process of adding a room, lots of pictures too. Hope it helps.

购买新房

谁都喜欢新房，不过买起新房也是费力费时。 我先转载一篇一个人的感想给大家参考， 我自己买房有2次都是新房， 有空也会写一下要注意的问题。

1. 选地选地

我知道的要注意这么几点： 安静， 朝向， 隐私， 土质， 如果造地下室的话， 还有地下水位。 比如说， 后院朝街的地隐私相对不好。 有的城市征收街道清扫费，那么拐角的地就要付较多的街道清扫费。 填埋的地基， 尤其是垃圾土填埋的地基， 就不太好。 我们这里， 每块地都有相应的建筑规范， 比如上面可以建的房子不能超过多高， 必须什么颜色什么形状, 看中地以后就去市政索要建筑规范， 如果建筑规范和心目中想要的房子有冲突， 那就要取舍一下了。 另外如果已经有邻居入住的话， 最好能拜访一下， 聊聊天， 能更多了解一些情况。

2. 选好了地以后， 就要规划一下， 房子建在哪里， 车库在哪里等等， 花园整体布局如何。这一步其实非常重要， 也是我目前最大的遗憾。 当时心软了一下， 让LD作了主，导致我们没有办法建双车库。

3. 选建筑公司， 选房型。 如果可以自由选建筑公司的话， 先在附近的新区转转， 看看别人选的是什么公司， 问问效果如何。 广告多，规模大的不一定就是好公司， 很多大公司反应慢， 态度不好。 选了好公司， 可以减少很多头疼扯皮。 我们选的是本地一家小公司， 但是口碑很好， 在我们小区有很多工程， 我们也很满意。 至于房子设计， 我个人认为比较重要的是：厨房要大， 尤其主妇， 简直在家就是在厨房了。 车库有门直接进房子， 最好是在储物间。 进门的门厅要敞亮， 为此我们设计了High ceiling+天窗， 感觉很好， 就是天窗不好擦。 :) 如果你不打算更新现有家具的话，设计房间的时候还有考虑一下家具的摆放。

4. 预算要做好超预算， 而且超得很多的心理准备。建房过程当中会冒出很多想也没想到的需要另外加钱的地方， 即使你已经作了很多功课。

5. 最后一点如果你不是单身一人， 而是夫妇俩共同建房， 而且你不是家庭绝对权威的话， 那么一定要记住， 建房是为了让生活更幸福， 家庭生活和夫妻感情比房子重要。房间大小颜色， 楼梯材料形状并不是那么重要， 即使你觉得很重要极其重要， 也不值得吵架。建房过程中可能会有很多伤感情的事情和话语， 要有心理准备。

一个新的new construction

Dolcett at la costa, calsbad.

建筑商是kb home. 这家不错， 经常走高档路线。 这个小区也不例外，起价都90万以上了。地点不错，view超好！ 周六计划看一下再来汇报一下。

圣地亚哥分区介绍之一： Carmel Valley

Carmel Valley 综合来讲我认为是圣地亚哥最好的区。 首先地理位置好， 近海，交通便利， 地势好，比较高但是又很平。其次是学区好，是家庭居住的好地方- family orinted neighborhood. 周边的生活设施配套也齐全， 很方便。


Carmel Valley相对来讲家庭结构组成比较年轻。吸引他们的是良好整齐的环境还有好的学校.


Carmel Valley说起来很大， 但是其实就分3个区， 一个是Torrey Hill, 是CV的高处山上一个非常大而平坦的高地。 一个是Ashley Fall & Del Mar Highlands, 是山下的大面积平地。 最后就是新开发的 Pacific Highland Ranch, 全部是新房， 在Carmel Valley的最东和最北区。 每个区里面又有自己的几个小学。但是高中和初中就都合并在一起了。 现在高中有2个

New home prices track Pacific Highland

As of 4/23/07

Arabella: (140 homes)

Plan 1: 3bds 2007 sf 739k --- 772k
Plan2: 3bds 2056 sf 761k --- 805k
Plan3: 4bds 2453 sf 815k --- 826k (sold out)

avg. lot size 4500 sf.

CFD fee (Community facilities district)

Del mar 136 per month + San Dieguito Union High 85 per month = total 221 /Month
HOA 205/Month


Santa Rosa: (123 homes)

Plan1 2961 sf 970k
Plan2 3187 sf 1019k
Plan3 3622 sf 1069k

HOA 35 + 150 (two HOAs)
Avg. log 6000 sf

CFD: Solana beach 300 per month + San Dieguito Union High 85 per month = 385 /Month

San Diego Zip codes List

City/Town Zip Code
Alpine 91901, 91903
Bonita 91902
Bonsall 92003
Borrego Springs 92004
Campo 91906
Camp Pendelton 92055
Cardiff-by-the-Sea 92007
Carlsbad 92008-92009, 92013, 92018
Chula Vista 91909-91915, 91921
Coronado 92118, 92178
Del Mar 92014
Dulzura 91917
El Cajon 92019-92022, 92090
Encinitas 92023-92024
Escondido 92025-92027, 92029-92030, 92033, 92046
Fallbrook 92028, 92088
Imperial Beach 91932-91933
Jacumba 91934
Jamul 91935
Julian 92030
La Jolla 92037-92039, 92092-92093
La Mesa 91941-91944
Lakeside 92040
Lemon Grove 91945-91946
MCAS Miramar 92145
Mt. Palomar 92060
National City 91950-91951
Ocean Beach 92107
Oceanside 92049, 92051-92052, 92054-92058
Pacific Beach 92109
Pala 92059
Pine Valley 91962
Potrero 91963, 91990
Ramona 92065
Rancho Bernardo 92128
Rancho Santa Fe 92067, 92091
San Diego (communities)
92101-92124, 92126-92140, 92142, 92143, 92145, 92147, 92149, 92150, 92152-92155, 92158-92179, 92182, 92184, 92186, 92187, 92190-92199
San Marcos 92069, 92078-92079, 92096
Santa Ysabel 92070
Santee 92071-92072
San Ysidro 92143, 92173
Solana Beach 92075
Spring Valley 91976-91979
Valley Center 92082
Vista 92083-92085
Warner Springs 92066, 92086

Recent sales of 4s Ranch

I talked with Dawn - the sales lady of Maybeck. She told me that there is no inventory now. She sold the remaining 2 lots from last phase.

EVERGREEN: All phases sold out. Had two confirmed buyers drop out last week. Both were immediately sold: No homes available. Development, including model homes, sold out. Prices of last units sold (Phase 6):
Model 3,002 (sq/ft)

lot 849 (lot size 5,488sq/ft): $718,990

lot 850 (lot size 5,727sq/ft): $725,990

Model 3,342 (sq/ft)

lot 847 (lot size 6,372sq/ft): $796,990

lot 673 (lot size 6,190sq/ft): $830,990

lot 676 (lot size 6,100sq/ft): $828,990

lot 677 (lot size 6,249sq/ft): $831,990

Developer Models (upgraded)Model 3,342 (sq/ft)

lot 680 (lot size 6,645sq/ft): $872,990

Model 3,550 (sq/ft)

lot 679 (lot size 6,120sq/ft): $1,031,990

PIENZA: Had phase 6 of 7 release on Saturday with 7 homes available. By 3:00pm on Saturday 6 of the 7 had sold (75% of Pienza homes now sold).

Prices of 6 homes sold on Saturday: Note: lot sizes unavailable but in general size of Evergreen (i.e. very small at 5500 to 6500sq ft). 1 home available until next phase release. Prices of most recently sold units:
Model 2901 (sq/ft)lot 761: $752,990lot 825: $721,390
Model 3212 (sq/ft)lot 759: $787,490
Model 3365 (sq/ft)lot 760: $783,990lot 828: $751,990

MAYBECK: Phase 3 of 7 release last week. One home available all others sold.

Prices of most recently sold units:
Model "Plan 1 w/suite (i.e. full bed w/bath on ground floor) " 3,172 (sq/ft)lot ??: $766,500
Modle "Plan 2 w/suite" 3,438 (sq/ft)lot ??: $764,990
Model "Plan 3 no suite" 3,252 (sq/ft)lot ??: $731,500
Model "Plan 3 w/suite" 3,700 (sq/ft)lot ??: $779,900

805通了！

今天第一次上805已经通了！昨天还没有呢。

上上周从805上过隐约看到有电视台的车，好像是州长又来剪彩了。这个在整个加州都是个巨大的project， 上亿上亿的。

开在新的路上就是感觉住在carmel valley真是幸福啊！

关于学区的思考

中国人买房考虑学区常常是放在第一位的。

一： 圣地亚哥的学区

San Diego Unified School District:

二: 什么造就好学区：


三： 选择最适合你孩子的学校：