Mike Litton Real Estate

1935 Orange Avenue, Ramona, CA 92065 Stunning Ramona Estate!

1935 Orange Avenue, Ramona, CA 92065 Stunning Ramona Estate!

Exceptional quality of construction and meticulously maintained 5.72 acre gated Estate with resort like amenities. With travertine flooring, large granite island and kitchen counters, upgraded stainless appliances, large family room with separate granite bar, recessed lighting, custom paint, large master with fireplace, office/den and formal entry. Lush back yard with outdoor fire place, kitchen and granite bar,  large pool with island and spa. Oversized 5 car garage, 4 stall mare motel and much much more!

Dramatic arched double doorway & custom tile floors welcome you to this stunning estate. Impressive formal dining room on right for all your future dinner parties and holidays with family and friends. Executive study on the left features custom built ins! Huge great room boasts a romantic and elegant fireplace, built in bar w/ice maker, refrig, t.v., sink & custom cabinets as well as two sliders to pool area. Luxurious master suite with wetbar, fireplace & sitting room. Elegant master bath/spa has heated floors, double sinks, king sized shower w/multiple shower heads & separate spa/tub. Master suite has direct access to private patio & pool. The master closet that you have always dreamed of! Two additional bedrooms with jack & jill bathroom on this side; with In-law or maid qtrs. on other side of home for ultimate privacy. Gourmet kitchen features beautiful granite counters with custom tile backsplash behind chef-style cooking range w/hot water faucet for the gourmet chef, huge island with vegetable sink w/disposal,butler's pantry w/double wine cooler along side the "wine room" with ornate wrought iron doorway. Two pantries serve this dream kitchen complete with breakfast nook & direct access to pool/patio area. Large laundry room adjacent to car-lover's 5 car garage with epoxy floors. 78,000 gallon saltwater pool invites you to cool off and enjoy the fully landscaped back yard. Pool is surrounded by outdoor kitchen equipped with granite counter, large propane connected BBQ, refrigerator, travertine bar w/stools, fireplace, and two furnished patios facing the pool and views beyond. Huge swimming pool has baja step, built-in bench seating around center island and swim up bar stools in side of pool. Grand spa will seat 20 to 25 people. Awesome!!!

As always, thanks for listening!

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San Diego Real Estate Market Turning A Corner? Check This Out!

San Diego Real Estate Market Turning A Corner? Check This Out!

Is the San Diego real estate market really turning a corner? Well check out the following to draw your own conclusions.

 

In order to try to determine if the San Diego real estate market has really turned a corner, we need to look at a number of factors. Those factors would include relocation activity, home sales for the last 12 months, San Diego's leading economic indicators, vacancy rates, and construction activity.

 

According to Allied Van lines in their most recent annual report, California has become one of the most inbound "magnet" states of the United States. Also, Allied Van Lines indicated that California is the most "mobile state" in the union with the most interstate moves of any state. In 2004 and 2006 California received the distinction from Allied Van lines as the most "outbound" state in the United States in relocation activity. What this means is that more people were leaving the state of California that were coming here.

 

According to Alan Nevin, a principal with the London Group, we are importing 30,000 more people into San Diego County every year than we are exporting. This will drive up the demand if it hasn't already for housing in San Diego County.

 

According to The San Diego Association Of Realtors, San Diego existing home sales have increased year-over-year 10 out of the last 12 months culminating in a 24% year-over-year increase in March 2012. As home sales continue to increase, this will affect inventory levels as the market will continue to absorb more of our current inventory more rapidly. Mr. Nevin indicates that in San Diego County the current unsold inventory is down to the two-month level and he further continues that in some areas of San Diego County properties that are priced 500,000 and below have multiple offers and are selling quickly.

 

According to Alan Gin at the University of San Diego, the San Diego County leading economic indicators have rebounded quite significantly from the low that was established in March of 2009. The current index reads it 118.1 which indicates a 40% plus improvement over that low. Mr. Gin also indicates that in 2011 construction permits increased by 56%.

 

Mr. Nevin indicates that in San Diego County the vacancy rate has dropped to less than 1%. Which is far below what economists indicate is statistical full vacancy. Therefore, it appears that we have a lot more demand currently for rental housing in San Diego County that we have inventory. This demand increase should drive up rental prices which should also put upward pressure and drive up demand on entry-level housing here in San Diego County.

 

Regarding construction activity, Mr. Nevin indicates that we are currently building just over 5,500 housing units here in San Diego County per year as of last year. Considering that were importing 30,000 more people per year than were exporting were simply not building enough units to accommodate that increased demand. According to Mr. Nevin, construction activity has been responsible for the recovery of our economy nine out of the last 11 recessions here in San Diego County.

 

So whether it is improvement in relocation activity, home sales, leading economic indicators, vacancy rates and/or construction activity it appears that San Diego County's economy and real estate market have turned a corner for the better. There is always a chance, and it could be significant, that our economy and real estate market dips into another recessionary trend. For now, anyway, it's looking good so far.

 

As always, thanks for listening.

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1973 Kinross Court, Escondido, CA 92027

1973 Kinross Court, Escondido, CA 92027

 

1973 Kinross Court, Escondido, CA 92027 is a meticulously renovated offering stunning craftsmanship throughout. The kitchen boasts granite counters, backsplash and sitting bar, with stainless appliances. A fabulous living room with new brazilian walnut hardwood flooring, recessed lighting, and custom granite fireplace. New carpet, interior paint, crown molding and baseboards. Custom bathrooms, one with Jacuzzi tub. New exterior paint, front landscaping, fencing & hillside views from your deck. This stunning showplace on a cul de sac is a must see!

 

As you approach this amazing home from the cul de sac, you take note of the custom pavers that make up the driveway, the new custom lighting, the new fencing, and the beautiful front landscaping. The new exterior paint and new front door are elegant and make just the right first impression. The entry with its brazilian walnut hardwood floors and upgraded custom trim continue the feel of entering a home you will be proud to own and share with your family and friends for years to come!  The gorgeous kitchen features stunning cabinets, granite counter tops & backs plash, stainless steel appliances, upgraded tile flooring & a breakfast bar with top of the line granite counter. The living room features great views, large slider to the view deck, brazilian walnut hardwood floors and a custom fireplace mantle with granite surround. This stunning space features recessed lighting, upgraded crown molding, window trim and baseboard trim. The master bedroom is on the entry level and boasts amazing country and hillside views. The master bedroom's upgraded crown molding, window trim, baseboard trim, carpet and pad provide an elegant ambiance. The master bathroom is totally remodeled and upgraded with a new jacuzzi tub, custom tile flooring and custom tile surround. Top of the line fixtures and granite counters complete this amazing space. The entry, stairs and hallways all feature brazilian walnut hardwood floors and upgraded trim as well. The bedrooms feature luxurious carpet with a highly upgraded pad, ceiling fans, crown molding, window trim and baseboard trim. The downstairs bathroom features fully custom tiled shower, dual vanity with amazing granite counter and upgraded tile flooring. This showplace is your pride of ownership! Check out some of the photos and a video from earlier today:

 

 

 

 

 

 

 

Are You Owed Money? There May Be Money Waiting For You Here!

Are You Owed Money? There May Be Money Waiting For You Here!

Have you lost your home to foreclosure or had a notice of default filed during 2009 or 2010? If so, you may qualify for a portion of a settlement that was reached in 2011 and has not received much media coverage so far. If you lost what is commonly referred to as your primary residence to foreclosure in 2009 or 2010 you may qualify for a portion of this settlement. If you had a notice of default filed on your primary residence in 2009 or 2010 while attempting a short sale, loan modification, deed in lieu of foreclosure, some other program to avoid foreclosure or you are still in default but the foreclosure sale has not taken place yet, you may qualify for a portion of this settlement.

One of the conditions is if your lender is participating in this settlement, if your lender is one of these:

 

• America’s Servicing Co.
• Aurora Loan Services
• BAC Home Loans Servicing
• Bank of America
• Beneficial
• Chase
• Citibank
• CitiFinancial
• CitiMortgage
• Countrywide
• EMC
• EverBank/EverHome Mortgage Company
• Financial Freedom
• GMAC Mortgage
• HFC
• HSBC
• IndyMac Mortgage Services
• MetLife Bank
• National City Mortgage
• PNC Mortgage
• Sovereign Bank
• SunTrust Mortgage
• U.S. Bank
• Wachovia Mortgage
• Washington Mutual (WaMu)
• Wells Fargo Bank, N.A.
• Wilshire Credit Corporation

 

You may qualify for a portion of this settlement.

To find out more information and to apply to find out if you qualify simply visit independentforeclosurereview.com.

One other very important condition, the deadline to apply is April 30, 2012 so be sure to visit independentforeclosurereview.com today!

As always, thank you for listening!

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Buy a home!

Finance your home purchase!

Refinance your home!

 

Are You Underwater? What Can You Do?

Are You Underwater? What Can You Do?

Are you a homeowner that currently owes more on your home than it's worth? What can you do? What are your options? Believe it or not you have a few.

 

If your current mortgage is not affordable, there is an organization called the Neighborhood Assistance Corporation of America or NACA, that can help you work with your lender to try to find a more affordable modification of your home loan. NACA is a HUD approved housing counselor and they have a contract with over 80 of the largest lenders in the nation. This contract commits these lenders to consider any modification proposal that NACA assists you in creating. One stipulation is that NACA must be able to document that your current home loan payment is not affordable. If you have contacted your lender in the past and have been unsuccessful in modifying your home loan to an affordable payment, whether you've been declined or approved for a payment that's simply not affordable you will want to talk with NACA.

 

It just so happens that NACA has a Save The Dream Tour that is coming to San Diego February 2-6 at the San Diego Convention Center. I have personally been involved with Nokia and have volunteered during there tour stops here in San Diego and Los Angeles. I have seen firsthand the amazing results that NACA can produce. The real key to NACA's power is the contract and the resulting commitment that they receive from the lender to work with them to find an affordable solution for the borrower. If you or someone you know, is having a hard time affording their mortgage payment please let them know about NACA. For more information about NACA and their Save The Dream Tour that's coming to San Diego the first week of February, you can visit NACA.com or you can contact me directly at 760-802-9500.

 

Another step you can take or option that you have if you're underwater on your mortgage is to sell your house for less than what's owed on it which is known as a short sale. A short sale is something that's actually encouraged by lenders today because it is in their best interest financially to let a home sell by short sale rather than foreclosing on it. Believe it or not lenders actually net more money as a result of a short sale than they do taking it back and having to sell on their own. If you or someone you know would like to sell your home please call me today at 760-802-9500 or you can visit littonrealtygroup.com.

 

As you can see from the video below which is an appearance I made on News Eight at 6 AM in November of last year, I mentioned that two of the options available to homeowners that are underwater or owe more on their home than it's worth was NACA or short sale.

There are more options available to you, like bankruptcy, deed in lieu of foreclosure and of course foreclosure any of these options require that you consult an attorney as does the short sale option. We also recommend that you consult your tax professional regarding the potential tax ramifications of short sale, bankruptcy, deed in lieu of foreclosure and foreclosure.

 

As always, thanks for listening.

Sell your home!

Buy a home!

Finance your home puchase!

Refinance your home!

 

 

Can I Buy Again? After A Short Sale? When?

Can I Buy Again? After A Short Sale? When?

When a homeowner sells their home as a short sale or for less than what's owed on the property, one of the first questions that we receive is can I buy again? If so, when can I buy again? The dream of homeownership truly is the American dream. For many homeowners lately, it has seemed like less than a dream. There are, millions of Americans every day who enjoy, relish and cherish homeownership. For those who've sold their homes by short sale, it is easier to buy again than you might imagine. If you or some one you know has sold their home as a short sale, you will want to keep reading.

 

FHA financing is a very large part of financing real estate today in America. FHA guidelines actually allow, as you'll see below, for a homeowner who does what's called a nondelinquent short sale to buy right away as soon as their sale closes. For those who have had delinquencies associated with their short sale, FHA requires that the former homeowner wait three years. There are guidelines available that allow for this three year period to be potentially reduced if there are extenuating circumstances, or those circumstances beyond one's control, that caused the homeowner to have to sell her home by short sale.

 

You will need to consult with your home loan professional because everyone's situation is different. If you do not have, or do not wish to call your home loan professional, we have contact information for home loan professionals in our area available to you.

 

The dream of homeownership in America is alive and well today. As our economy continues to improve our housing market should recover, in that, demand should eventually equal supply and when demand exceeds supply we should see appreciation in housing values.

 

As always, thanks for listening.

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Finance your home puchase!

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Can I Buy Again? After a Bankruptcy? When?

Can I Buy Again? After a Bankruptcy? When?

I have received this question so many times lately that I've decided to answer it here as well. Having been the real estate for over 20 years now, I understand the passion that many of us have for homeownership. In our recent history here in San Diego County, we've experienced a large number of bankruptcies, foreclosures and short sales. I have personally worked with dozens of homeowners after they have either filed for bankruptcy, had a property foreclosed on or have closed a short sale. You cannot help but see in their eyes the desire and passion that they have to own a home again. Because of that passion that these homeowners have I felt it was important to bring this information to them and to you. Owning a home is supposed to be the American dream. Unfortunately, it has been more like well, let's just say less than a dream for many. With recent economic reports coming out and many of them pointing to positive economic growth, the housing sector in the United States and specifically here in San Diego County will eventually pick back up. Meaning, that demand will increase and at some point should either equal or exceed inventory, thus putting upward pressure on housing prices. This is were the real opportunity of the American dream comes in the play.

 

Believe it or not, you'll see this below, it is easier today to qualify to buy a home again after a bankruptcy that it has been in quite some time. Because FHA is such a large part of the financing of real estate today and because they have eased their guidelines recently, it is simply easier to buy today after a bankruptcy. As you will note below, with FHA financing, you can qualify for a new home loan in just 12 months after the beginning of a chapter 13 bankruptcy. With chapter 7 it actually takes three years, but with extenuating circumstances or those that are beyond your control that timeframe can be reduced, sometimes significantly.

 

You will need to consult with your home loan professional for the specifics because everybody's case is different. If you don't have, or don't prefer to consult with your home loan professional we can certainly give you the contact information for a number of home loan professionals in our area.

 

I have made it my mission to promote homeownership. I understand the joys and the challenges that come with owning a home. And I truly do believe that owning your own home is still and will be again be the American dream.

 

As always, thanks for listening.

Sell your home!

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Finance your home puchase!

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Keller Williams Realty North County San Diego Reaches A Milestone!

Keller Williams Realty North County San Diego Reaches A Milestone!

We are very proud to announce that for the first time we have two of our top producing business owners featured in Keller Williams National Magazine Outfront!

Trent Chapman and Kristian Peter are both much more than top producing Realtors, they are truly business owners that we are proud to have affiliated with Keller Williams Realty North County San Diego! They are both truly business owners and visionairies that are on the cutting edge of the real estate industry now and in the future! The bottom line here is we can all learn alot from these incredibly talented entrepreneurs and we do everyday!

Trent Chapman, who is a specialist in the art of Real Estate Short Sales is truly a genius in our industry and has taught tens of thousands of Realtors how to effectively list and sell properties for homeowners that are currently underwater due to the current economy, the resultant weakness in the housing market and the negative effect on housing prices. Trent is extremely talented and is a true expert in the real estate industry. He cares about his clients and works very hard on their behalf to make sure that they are treated fairly by their current lenders! If you or someone you know is struggling because they are underwater on their current mortgage, call Trent and his New Future Team today!

Kristian Peter, who began as an REO Specialist, is one of the top producing Realtors in the nation that specializes in helping lenders sell homes once they have received them from the foreclosure process and need to list and sell them. Kristina and his team specialize in listing and selling short sales and traditional sales as well. Kristian's team of buyer's agents also work with a large number of buyers to help them find the home that is just right for them!  Kristian is also a very talented entrepreneur and has developed other specialties and businesses that have aided in his current and future success! In Outfront magazine, he was featured and interviewed by Gary Keller, founder and Chairman of Keller Williams Realty International, specifically regarding how he and his team manage leads that come to them from their intensive internet marketing efforts. Kristian and his team have a very detailed strategy to follow up on these leads to maximize the service to the client and the effectiveness of his team to sell their current inventory of foreclosures, short sales and traditional sales. Kristian is truly a great business owner and we are very proud to be in business with him!  If you or someone you know wouls like to sell their home as a traditional equity sale or as a short sale, call Kristian Peter and his team today!

We are very excited and honored to be in business with both Trent and Kristian and we look forward to an amazing 2012! Happy New Year!

Did You See These News Reports From The Last Week? Things Maybe Looking Up! Watch Out!

 

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The Real Estate Zone radio show

The Real Estate Zone Week 20 Was All About JD Esajian Star Of Flip This House!

The Real Estate Zone Week 20 Was All About JD Esajian Star Of Flip This House!

Our week 20 show started as usual with an update on the market and what the latest is out there. Home loan interest rates are at some of the lowest levels we have seen ever in history! The latest Case-Shiller study came out and showed that home values here in San Diego have dropped 5.9% this last year. Existing home sales are up, but values are down because of excess inventory in the current marketplace.

Trent Chapman, our short sale expert, indicated that he is currently helping homeowners that are delinquent and non-delinquent on their home loans to sell their homes even though they own more on their homes than up in their homes are worth. This short sale of their homes are helping these homeowners to relieve stress and to alleviate their single largest monthly expense. In addition, these homeowners are able to turn around and buy property immediately in some instances right after they've closed escrow their sale. This is giving these homeowners an opportunity to take advantage of record low interest rates and the downturn in current real estate values. To contact Trent Chapman you can visit their website at newfutureteam.com or you can call them directly at 1 – 800 – 951 – 4541.

 

JD Esajian with CT homes and fortune builders.com also star of A&E's hit TV series flip this house joined us live in studio to update us on what his team is doing to help educate real estate investors. Their latest training which was free to all that could attend was being held on October 15 from 11 AM to 1 PM in University Heights on location at a property that they're currently rehabilitating. JD and his team call this training a rehab subgroup where they literally walk real estate investor students through a property that they are fixing up to turn around and sell so the students can get up close first-hand knowledge of what it takes to rehab and prepare for sale at investment property.

 

JD and his team, our dedicated to training students of real estate investing how to locate the best deals, buy them right, fix them up correctly and then sell them successfully. JD and his team have been very successful at doing this very thing and they are looking to share their knowledge and their expertise with as many real estate investments students as they possibly can. We truly appreciate the opportunity to have JD and his team including his brother Paul as regular contributors to our show!

 

All in all as usual we had a great time broadcasting our show week 20.

 

Thank you for listening!

 

I'll see you on the radio!

Sell your home!

Buy a home!

Finance your home puchase!

Refinance your home!

The Real Estate Zone radio show