The Lund Team's Real Estate Blog

Short Sale Forgiveness Working To Pass At State Level - California Bill SB 30

Tyson Lund

Thursday, March 21st, 2013 at 11:16am. 322 Views, 0 Comments.

Press Release from C.A.R:

"Forgiveness Debt Relief Act, which will for one more year exempt the taxation of mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale or loan modification (including any principal reduction).

However, the California exemption expired at the end of 2012, so forgiven mortgage debt is considered taxable state income for now. A C.A.R.-sponsored bill, SB 30 (Calderon, D-Montebello), passed out of the Senate Governance & Finance Committee this week by a 6-to-0 vote.

C.A.R. applauds the committee for approving SB 30 with no dissenting votes, and hopes the Legislature will send this measure to Gov. Brown for his signature into law as soon as possible. Homeowners who are…

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Scarce Sellers, Bullish Buyers

Tyson Lund

Thursday, September 20th, 2012 at 3:19pm. 276 Views, 0 Comments.

This is the October 2012 article for the Carlsbad Business Journal. -Tyson Lund

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Fewer homes for sale amidst falling mortgage rates has left North County San Diego’s real estate market in a temporary seller’s market. A 'sellers market' is defined as a time period when buyer demand for housing exceeds available supply. A sellers market gives those selling property an opportunity to secure a higher price, sell faster and/or negotiate superior terms than compared to recent comparable sales. And although only a fraction of the strength of the extreme sellers market 2004-2005 and possibly only temporary, the current sellers market is being confirmed with several key metrics used daily by real estate practitioners..

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Carlsbad And Encinitas Home Sales

Tyson Lund

Tuesday, July 17th, 2012 at 7:26am. 258 Views, 0 Comments.

We here at The Lund Team continually look at the ever-changing reams of data for home sales in North San Diego County. Personally, what I find most interesting is the ever shrinking number of REO property during 2012. REO means real estate owned and is an acronym for a foreclosure home. Short sale homes continue to be a significant part of the coastal real estate market. find out what a short sale is here.

Carlsbad and Encinitas By The Numbers

For the following zip codes: (92007,92008,92009,92010,92011,92013,92018,92023,92024)

Territory Market Recap*
	Active		In-Escrow		Closed (List Side)		Total
REO	47	3.8%	60	9.8%	845	20.5%	952	15.9%
Short	514	41.3%	130	21.3%	845

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Where are rates? An all new low!

Garrett Lund

Monday, May 21st, 2012 at 2:45pm. 225 Views, 0 Comments.

I just got this rate break down emailed over to me... wow! Bottom line... makes houses even more affordable. Don't wait. Call the Lund Team at 760.438.0800 to take advantage.

Approximately:

30 Year fixed Purchase Loans

3.625 % Conforming: (loan amounts under $417,000) $228.03 per $50K (Calculate at $50,000 increments to figure P&I pymts)

3.875% Jumbo (loan amounts up to $546,250)

FHA (up to $697,500)/VA (up to $417,000 with 0 down)

3.5%

15 Year fixed

3.125% Conforming $348.30 per $50K

NON-OWNER OCCUPIED

1 Unit 4.25%

3-4 Unit 4.5%

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Short Sale and Foreclosure - Carlsbad, Encinitas, Cardiff

Tyson Lund

Thursday, April 26th, 2012 at 11:16am. 281 Views, 0 Comments.

Home many short Sales, foreclosure homes and resale homes make up the coastal market?

We have many clients that are curious about foreclosure & Short Sales - and how much they make up of the current market. The numbers below are for a 12 month period. Below, you can see REO property is currently shrinking and short-sale home increasing. This is due to more people short-selling as opposed to letting the bank foreclose. Resale homes, or traditional homes, still make up a majority of the marketplace on the coast. (Want more info? Contact Tyson Lund)

For the following cities: (Carlsbad, Encinitas, Cardiff)

Territory Market Recap*
	Active		In-Escrow		Closed (List Side)		Total
REO	75	5.6%	109

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Carlsbad Condo Market Report - April Update

Tyson Lund

Tuesday, April 24th, 2012 at 10:52am. 178 Views, 0 Comments.

Carlsbad condominium and town home sales are robust in 2012. Carlsbad saw an average 50 units sell a month in April versus an average of 25 in 4th quarter 2011. The results of continued low mortgage rates and reduced inventory, Carlsbad condo's are securing 98% of asking price with the average 2 bedroom, 2 bath 1,400 sq.ft. condo selling for $324,000. Average time on market is around 51 days for traditional sale property, a time that has moved down from 55 days in previous months. Average sale prices have remained relatively unchanged since 2011. Similar to single family homes, condos are become more scarce in 2012. Month(s) of sellable inventory for condos in Carlsbad is 2.2 months. Search Carlsbad Condo and townhome properties for sale

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