New Years Resolution: to get this crazy guy under control 🤣
Captured by: @mike_wolf_soriano
Anyone else want to buy an investment property for Christmas?! 🎄
If you’re thinking about doing so with utilizing a HELOC, here are the 3 main benefits:
1) Your first/main loan will not be touched! Meaning you can keep your rate on your first mortgage while leveraging a HELOC…whereas other options such as a cash-out refinance you’d have to REFYI into the new market rate. Keep in mind your HELOC will have a separate variable rate.
2) HELOCs have no pre-payment penalty! Meaning, you can pay it off as soon as you’d like. This often times paves the way to a cash flowing asset much quicker.
3) You only pay & owe on the $$$ amount you use! For example, let’s say you decide to have a 100K line of credit on your home. A killer deal pops up but you’re short 20K to make it happen. If you decide to use the 20K from your HELOC, you only owe and pay on that 20K!
Have additional questions on HELOC’s and how you can put your equity to use? Luckily for you, I have an awesome team of lenders who can help explain in further detail and financial advisors who can determine if this is the right move for you! @ashley_eortega @cmghomeloans
🎥 @mike_wolf_soriano
Putting yourself out there is hard….”videoing” is harder🤣 If you’re not uncomfortable or mastering a skill…you’re not growing!
🎥 @mike_wolf_soriano
While there’s no way to sugar coat that the market has shifted, don’t let headlines scare you! Headlines are MADE to produce clicks.
Whether you’re thinking about selling or just concerned about the market, here are the facts:
- Pending sales are at a 10-year low in SD County (according to data from SDAR) but a drop in demand is normal for the holiday season!
- Yes, appreciation has slowed since the Spring market in response to the rapid increase in mortgage rates. It’s important to understand that prices are a moving target and you need to hold on long term for the least amount of risk.
- According to S&P Case-Shiller & Keeping Current Matters, home prices have nationally climbed year over year 10%. This is phenomenal when you look back at other years prior to the pandemic (2019 for example) and realize year-over-year growth was between 3-4%.
With that being said, every micro-market is different and we have seen price reductions depending where you are. I encourage you to consult with an agent who has boots on the ground in your LOCAL market if you have questions!
Everyone’s talking about 3-1 buy-downs…what are they?!
*Note the market rate is a moving target and is always shifting! The current rate is NOT 6%, this was just used as an example!*
*Second note: these buy down options do cost $$$! Which is why I’ve been negotiating for Sellers to cover these additional costs for my Buyer clients.*
There are also 2-1 buy downs which are less expensive and the same concept!
🎥 @mike_wolf_soriano
#sandiegorealtor #sandiegorealestate #sandiegorealestateagent #imperialbeach #imperialbeachrealtor #imperialbeachrealestateagent #imperialbeachrealestate #realestateinvesting #investing101
Got my clients a house for Christmas🎄! And yep, you guessed it…they got an awesome deal 🤫
Interested in real estate investing and don’t know where to start or navigate this crazy market? Don’t worry, I have your back 😉 just give me a call 📱 or shoot me a DM!
Madeline Foley, #02056028
Costa Modern Properties, #02014153
#imperialbeachrealtor #imperialbeach #imperialbeachrealestatemarket #imperialbeachrealestateagent
Did you hear that rates have dropped?! For some loan types rates are averaging an entire percentage LOWER! Not to mention, pending sales in SD county (which is a good indicator of demand) are at a ten-year low.
This is the perfect storm if you’re looking to purchase a home. I’m not only negotiating 5%-20% under asking for my Buyers in this market…we’re also securing credits PAID BY THE SELLER that allows my clients to land anywhere between a 3%-5% rate depending on which buy-down option they choose. My advice is to get into the market while the competition is LOW!
Madeline Foley, #02056028
Costa Modern Properties, #02014153
#sandiegorealestate #sandiegorealestatemarket #sandiegorealestateagent #sandiegorealtor #imperialbeach #imperialbeachrealestate #imperialbeachrealtor #imperialbeachrealestateagent
OPEN HOUSE TODAY 1-3PM!
946 B Avenue, Coronado
3 bedrooms, 2.5 baths 2,325SF
Two Car Garage
Front & Backyard Space✨
Owned Solar, Newer Roof, & New Windows!
Now listed for 2.850M
Walking distance from all the shops and restaurants Coronado has to offer like Clayton’s, Buona Forchetta, McP’s and much more. Come say hi 👋
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Madeline Foley, #02056028
Costa Modern Properties
#02014153
Listed by Pam Wenhe with Wenhe Mortgage & Realty, #01325484
#coronadorealestate #coronadorealestateagent #coronadoisland #coronadoislandrealtor #coronadoopenhouse #imperialbeach #imperialbeachrealtor #imperialbeachrealestate #imperialbeachrealestateagent
There’s this old saying when it comes to 1031 exchanges…”shop til ya drop 🛍⚰️!”
That’s because a 1031 exchange does NOT magically erase capital gains tax. It just allows you to pay those taxes down the line instead of at the time of sale. Meaning, you’ll have to pay the man one day…UNLESS you keep exchanging property until you pass!
1031’s are one of the very powerful tools real estate investing has to offer. Luckily for you I have a great team of CPA’s and 1031 intermediaries available at your fingertips!
🎥 @mike_wolf_soriano
#sandiegorealtor #sandiegorealestateagent #sandiegorealestate #imperialbeachrealtor #imperialbeachrealestateagent #imperialbeach #realestateinvesting #realestate101 #realestateinvestor #1031exchanges
Normally you would pay AT LEAST 800K for a home in Imperial Beach…instead my clients opted for two homes for the cost of one!
The front house consisted of 3 bedrooms, 2 bathrooms with a 2 car garage (fair condition) and the back house was a 2 bedroom, 1 bath with two driveway spots (original condition).
LIST PRICE: $1,025,000
SOLD PRICE: $835,000
Seller also paid $16,000 towards the Buyers closing costs ($206,000 off asking price / 20% REDUCTION).
Represented BUYER!
Want to capitalize off this market but don’t know where to start? Call me at 619-679-1206!
#imperialbeach #imperialbeachrealestate #imperialbeachrealtor #imperialbeachrealestateagent #imperialbeachrealestatemarket #investing #investing101 #realestateinvestor #rentalportfolio #realestateinvesting
🚨 ATTENTION BUYERS 🚨 all of you who didn’t want to purchase property in the crazy Seller’s market…IT’S NOW YOUR TURN!
I’ve been able to negotiate some awesome deals; including securing properties way under list price and convincing Sellers to cover the Buyer’s lower rate!
It’s important to keep in mind there’s no such thing as a perfect market and there will always be trade offs. Earlier this year you probably would’ve had to pay $100,000 over-asking but your rate was likely in the 2%’s. VS today you’ll more than likely get under-asking but rates aren’t at record lows anymore. It’s all about adjusting the strategy that work best for your goals✨
Who can spot the mistake in this video 😆? I find these corky mistakes fun…because life’s not perfect and neither am I🤪 Hope everyone has a fabulous Thanksgiving 🦃
#imperialbeach #imperialbeachrealtor #sandiegorealtor #sandiegorealestate #imperialbeachrealestate
MAN, it’s been a busy Fall 🍂 And I’m not going to lie…I am TIRED! I feel like over the past three years I’ve climbed a mountain and now finally have the chance to enjoy the view. Thank you to everyone who has supported my local business, whether you referred a friend or worked with me personally. You all truly mean the world to me and your support does not go unnoticed ❤️ Know I’m always in your corner.
#sandiegorealtor #sandiegorealestate #sandiegohomesforsale #imperialbeach #imperialbeachrealtor #imperialbeachrealestate #imperialbeachrealestateagent
The longer I live here the more I love it…proud to call this small beach town home.
#IBismorethanokay!
#imperialbeach #imperialbeachrealtor #imperialbeachrealestate #imperialbeachrealestateagent
Jack & I are nothing special…we just knew how to use the right tools and when to jump.
My passion for real estate lit up when I realized if normal people like us could build wealth through real estate investing, then I could help all my friends and family do it too. The truth is that the past few years were completely disheartening and grueling for many Buyers. Both real estate professionals and sellers were on power trips. No matter how strong of an offer my clients wrote they were immediately rejected simply for wanting to take advantage of their VA benefits.
Well, the tides are changing and deals are beginning to hit the marketplace. We are seeing more price reductions and sellers willing to pay the BUYER get a lower rate! There is no such thing as a perfect market (there will always be trade-offs); it’s about evaluating how to best skin the cat for your situation and if it’s simply the right time for you.
You can always reach out with any questions - my cell is 619-679-1206. Now let’s go get some killer deals ✨
🎥 @mike_wolf_soriano
#sandiegorealtor #sandiegorealestate #sandiegohomesforsale #imperialbeach #imperialbeachrealtor #imperialbeachrealestate #imperialbeachrealestateagent
🚨 GIVEAWAY TIME🚨
It’s that time of year again where I partner up with @saharmacephotography to provide my clients a complimentary mini session for holiday photographs!
This year I’m doing one giveaway session for anyone! All you have to do is…
1) Like this post.
2) Tag a friend.
3) Shoot me a DM!
I’ll be announcing the winner on my story end of day Wednesday!
My clients are the CUTEST! Thank you to @saharmacephotography for capturing their homeowner anniversary!
Did you hear?! Visit sun coast market.coop/ for more info or give them a follow on FB! @suncoastmarket
#imperialbeach #imperialbeachrealestate #imperialbeachrealtor #suncoastcoop #imperialbeachcalifornia #newdevelopments #ibrealtor #imperialbeachrealestateagent #supportlocal
It feels surreal waking up to a vision that I’ve had for the past 3 years and it being reality…
And my taste might not be for everyone…but that’s okay 👌
Keep in mind that the Average Days on Market has increased overall because of a market shift but…
31 days on market is actually NORMAL and a 96% list-sales price ratio is still REALLY good. Just keep in mind that first impressions matter now more than ever!
#imperialbeach #imperialbeachrealtor #imperialbeachrealestate #imperialbeachrealestateagent
Sneak peak with more to come…happy to say our guest bathroom remodel is now COMPLETE!
When me and Jack starting 🏡 shopping a turn-key home wasn’t an option. Jack was forced to do the first round of remodeling himself (floors, kitchen, paint, baseboards, door casing, etc) which gave us a high return on investment and opened up endless opportunities.
In fact, when we bought this house near of us liked it…but we knew we could make it something really special. When you start your real estate journey I encourage you to look at POTENTIAL and understand no home is immediately perfect. Opt for a blank canvas & slowly make it what you want with hard work, then it will be perfect❤️
#sandiegorealtor #sandiegorealestate #sandiegohomesforsale #imperialbeach #imperialbeachrealtor #imperialbeachrealestate #imperialbeachrealestateagent
#beforeandafter
#bathroomremodel
#imperialbeachbungalow
