23 Property Offers and Our Lower Priced Offer Wins!

Russ Petrone does it again!

Houses for Sale in San Diego- Some things just need to be said, and this is perfect example.  We have recently been experiencing crazy demand for houses for sale in San Diego for the past couple of months, with multiple offers on most properly priced homes without a major problems, i.e. backs up to a busy street, over head electrical lines, etc..

I just represented a successful offer on a property in Sabre Springs next to Scripps Ranch, San Diego. We were competing with 22 other offers, some of which represented better terms than my buyer was willing to commit to. Ours was ultimately chosen, not for its terms so much as the manner in which it was presented.

The listing agent told me my clients offer was chosen, even with less favorable terms, because I executed the offer flawlessly by doing what I said I would do and providing an offer with all supporting documentation. This included providing a valid lender pre-approval letter, proof of buyer funds to close, copy of the earnest money deposit check, and wet signatures on a short sale offer (required by many short sale lenders in lieu of the more popular electronic signatures).

In addition, knowing what a short sale lender will agree to pay and what they will never agree to pay helped me write an offer that required no seller counter offer. Ultimately, the seller felt they had a better chance of a successful closing with an agent that had dotted all of his “i’s” an crossed all of his “t’s”.

Sounds simple, but many less experienced agents don’t take the time to put together their offers like this and it can mean the difference between winning and losing. I instruct all of our seasoned Realtors at Petrone Properties to present in this fashion and our client are handsomely rewarded for our extra efforts.

If you or someone you know would appreciate the level of performance and care my team and I provide, please contact me at (858) 775-1812 or visit our company website at www.PetroneProperties.com. With 25 years of Trust, Performance and Integrity, Realtor Russ Petrone and his team have what it takes to get the job done.

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Home Prices Rise 4.4% as San Diego Recovery Still on Track

Houses for Sale in San Diego- Good news for San Diego as the region’s economic growth grew for the sixth straight month in June. At .01 percent the growth was not as strong as the solid pace of .o6 percent for April and and .07 percent for May, however, it’s viewed as a positive sign that San Diego’s recovery is still on track. 

The information was released from the Burnham-Moores Center for Real Estate Index of Leading Economic Indicators and is authored by Economist Alan Gin who commented that growth of 1 percent would be considered “exceptional”.

Houses for sale  San Diego priced under one million dollars continue to garner multiple offers as inventory levels here have dried up. Prices of North County San Diego real estate have risen 4.4 percent since June and  since June Although talk persists of the existence of so called ”shadow inventory” we have yet to see any of it as banks work with borrowers towards modifying their loans or performing short sales in lieu of forclosures.  

There has never been a better time to buy a home or investment property in San Diego. Interest rates continue to hover around 3.5% for a 30 year mortgage and while I don’t see a meteoric rise in prices from here, I do see a gradual increase as we rise off the bottom and continue our climb out of recession.  

If you or someone you know is considering buying a home or investment property in San Diego please contact Realtor Russell Petrone at (858) 259-1000 or at www.PetroneProperties.com. With 25 years of residential real esate experience you’ll be well represented. Trust, Performance, Integrity… Russell Petrone.

 

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