HotelDel DownTown Sunset

Greetings from Jennifer Ross -  Realtor
 
Alex DormAlex GoodbyeI recently accompanied my daughter "Alex" to New York to attend her first year at Syracuse University - she will be studying Journalism and Media at "The Newhouse School". We transformed her dorm room from what looked like a jail cell to a cute girly space! From the dorm we walked down the 130 steps to get to the campus! We ate a couple of meals in the dining hall (pretty good food), walked through the underground tunnels (used during severe weather), found the local Starbucks, opened her checking account, and spent two hours in Target purchasing everything she forgot. A whirlwind of a trip but wonderful see her so excited to begin first year of college.
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AdvocateTHE WINNER OF THIS MONTH'S DRAWING IS... 
 
Steve Gardepie!
Steve has won a signed copy of the thriller "The Advocate" from my good friend and San Diego author Teresa Burrell, as well as a $50 restaurant gift card - congratulations!
 
The next drawing will be in a few weeks..
News and Views - It's Not All Doom and Gloom  
 
Last week's Case-Shiller Home Price Index shows while sales were down, prices were moving higher, especially in California. Overall, home prices in the top 20 U.S. markets were up 4.2 percent in the past 12 months. However, David Blitzer of S&P says, "California cities have moved from some of the hardest hit to three of the four leading cities based on year-over-year gains." Only San Francisco has shown a better rebound in prices than San Diego. Prices here in the past year are up 11.2 percent compared to San Francisco's gain of 14.3 percent.
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Last week's pending home sales report from the National Association of Realtors found contracts signed in July but still in the escrow process rose by 5.2 percent nationwide, but went up 11.6 percent here in the West. Chief economist Lawrence Yun said, "Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates."
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Mortgage rates reached another modern-day low, and homeowners took advantage by refinancing.
The benchmark 30-year fixed-rate mortgage fell 6 basis points this week, to 4.53 percent, according to the Bankrate.com national survey of large lenders. One year ago, the mortgage index was 5.41 percent; four weeks ago, it was 4.66 percent.
This is the lowest that the 30-year fixed has been in the 25-year history of Bankrate's weekly survey. The previous record was 4.57 percent, set Aug. 11. Mortgage rates haven't been this low in more than half a century. Rates on FHA-insured mortgages averaged 4.56 percent in February 1955, according to the National Bureau of Economic Research.
5 Things You Must Know About Homeowners Insurance 
 
1. Loyalty is overrated
Many insurers have been raising rates to make up for losses they suffered during the financial crisis, industry experts say. At the same time, insurers are competing hard for new customers, which means some of them are cutting better deals for new policy holders than for existing ones, says Deeia Beck, executive director of the Office of Public Insurance Counsel, a state consumer agency in Texas.
When your annual renewal statement lands in your mailbox, check InsWeb.com and NetQuote.com to see if you can snag a better deal elsewhere. Consider moving your auto policy too; bundling home and auto coverage with the same insurer can cut your total premiums by 5% to 15%.
 
2. You may have too much coverage
It's common for policies to contain inflation-protection provisions that automatically increase your coverage amount. "In most years, that's a good thing," says Scott Richardson, director of the South Carolina Department of Insurance. Now that construction costs have fallen? Not so much.
For now, pass on inflation protection and adjust your coverage amount to a more realistic figure. Lowering replacement value from, say, $300,000 to $250,000 might shave 10% off your premium.
 
3. A bad rep can cost you
Just as lenders check your credit history before figuring out what rate to charge you, insurers tap into national databases such as the Comprehensive Loss Underwriting Exchange (CLUE) to see what claims you've filed in the past. Those records can be full of errors, warns Doug Heller, executive director of Consumer Watchdog, an insurance advocacy group.
Check your insurance report for mistakes at choicetrust.com; it's free if you've been denied coverage ($19.50 otherwise).
 
4. Small claims can cost you, too
Go with the highest deductible you can afford and bank the savings to cover the cost of minor repairs. Filing a claim for every broken window or leaky pipe can drive up your premiums by 10% to 15%, says Don Griffin, a vice president at Property Casualty Insurers Association of America. (Some experts say that even inquiring about making a claim can raise a red flag.)
Increasing your deductible from, say, $500 to $1,000 can lower your annual premium by as much as 25%, according to the Insurance Information Institute.
 
5. A home's history matters
In the market for a new house? It may seem unfair, but claims associated with the property before you buy it can result in your paying more than you would otherwise. "Certain locations [such as those vulnerable to flooding] may be more prone to claims," explains Kiran Rasaretnam, CFO of InsWeb.
To get info on past claims, ask for a copy of the seller's CLUE disclosure report (see No. 3). Yes, you're stuck with the history of the house you buy, but you can use what you find to negotiate a lower price with the seller.
 
Courtesy of CNN
Famous Quotes
 
Changing the world is good for those who want their names in books. But being happy, that is for those who write their names in the lives of others, and hold the hearts of others as the treasure most dear.
Orson Scott Card
Video of the Week
 
This parody of 2 women confronting each other in the mall's parking lot is hilarious!
 
As always, feel free to give me a call 800-913-7677 with your real estate needs.  I appreciate your referrals.
 
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Acedemic Earth 

Jennifer Ross

 
Experience Counts!
Over 21 years in
Real Estate sales
Serving all of San Diego
 
Office: 800.913.7677
Direct: 619.985.7340
JennRossRealtor@gmail.com
 
 

Current Mortage Rates

 (BankRate.com weekly avg)
 30 yr fixed: 4.53%
15 yr fixed: 4.05%
 

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