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Quick Economy Overview

The U.S. economy’s better-than-expected expansion in the second quarter fueled optimism that growth was back on an upward trajectory, allaying fears that the recovery might have been derailed during a sharp winter slowdown.

Analysts had projected the nation’s total economic output, or gross domestic product, would expand at a 3.1% in the second quarter. But the economy performed better than expected, with the strongest growth since the third quarter of last year with a boosted this spring by a jump in consumer spending, which rose 2.5%, compared with 1.2% in the first quarter.

Doug Handler, chief U.S. economist at IHS Global Insight, noted that, excluding the first-quarter slowdown, the economy averaged 4% growth in the second half of 2013 and now again in the second quarter of this year. He doesn’t expect that to continue, but forecasts growth of 3% to 3.5% in the second half of 2014. We look forward to a great end to the year!

For all your Real Estate needs, Call me today at 619.665.5360 or email Jason@MetroSDRealty.com.  I look forward to hearing from you!



SOLD in Pacific Beach

Sales are hot in Pacific Beach!!! Based on the homes that closed this past week they had stayed on the market an average of 36 days.  Our average sales price last week was $$707,994 with an average of 1,598sq. ft.  Thus making a total of $$432.66 per sq. ft.

***PRICE DROP*** my listing in Pacific Beach is now reduced to 539,000$$$ Thats a 36,000 drop!!!

Call me today at 619.665.5360 or email Jason@MetroSDRealty.com.  I look forward to hearing from you!

ADDRESS  BD/BA    SQ.FT  SALE PRICE  PR/SQ.FT
1801 Diamond Street 212    2/2     900   $300.000    $333
4821 Bella Pacific Row 109    2/2     1,094   $400,000    $365
1948 Missouri Street    2/3     1,264   $530,000    $419
2172 Reed    3/3     1,432   $578,000    $403
3986 Riviera Dr    3/3     1,521   $690,000    $453
4973 Academy Street    4/2     1,820   $784,943    $431
4926 San Joaquin Dr    4/2     1,776   $898,000    $505
1424 Thomas Avenue    4/4     2,331   $999,000    $428
1051 Opal St    3/3     2,050   $1,045,000    $509
2530 San Anselmo    3/2     1,797   $855,000    $475
AVERAGE:     1,598   $707,994    $432

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Foreclosure Update

Foreclosures dropped to a nearly eight-year-low in San Diego County in June, as rising equity and an improving economy continue to help people get out of bad loans.

Last month, lenders foreclosed on 134 properties in the county, seven fewer than they did in May, and down from the 153 properties repossessed in June 2013, real-estate tracker DataQuick reported Thursday. It was the lowest amount of foreclosures since there were 134 in August 2006.

Foreclosures peaked in San Diego County at 2,004 in July 2008.

Default notices, which trigger the foreclosure process, ticked up from 419 in May to 424 in June. Still, they’re down more than 35 percent from the 654 in June 2013.

Default notices peaked at 3,832 in the county in March 2009.

In June, the median price for a home in San Diego County was $440,000, up 8.2 percent from a year earlier. The median rose another $10,000 in July to a nearly seven-year high.

If you are interested in buying/selling or just would like some Real Estate advice, please contact me directly 619-665-5360. Thank You!



What is selling in Downtown San Diego

Lots of activity in Downtown San Diego, 5 Total!! Last week there was an average sales price of $856,800 and an average of 1,645 sq. ft. Thus making a total of $495 per sq. ft.

If you have been thinking of buying or selling, we are here to help get you started! Call today at 619.665.5360 or email Jason@MetroSDrealty.com.

             ADDRESS BD/BT EST. SQ.FT. SALES         PRICE  SP/SQ.FT.
1640 10th Ave. 206
   2/2     1,158   $350,000    $302
889 Date St 141    2/2     971   $375,000    $370
645 Front St. 1305    2/3     1,281   $705,000    $550
200 Harbor Dr 2803    1/1     1,036   $729,000    $703
645 Front St. 2002    3/4     3,783   $2,140,000    $565
Average:     1,645   $856,800    $495

 



Tax Lien Removal

What many people don’t know is that in 2011 and 2012, the IRS implemented something called the “Fresh Start” initiative, which is a series of procedures and policy changes directed toward taxpayers facing collection from the IRS. One of the changes includes a policy that allows certain taxpayers to request that their tax liens be withdrawn, even before the underlying tax debt has been paid. Under this policy, a taxpayer can request the tax lien be withdrawn in certain circumstances that we’ll describe in a moment. 
The Taxpayer Advocate reports that as of March 2013, the IRS issued 6,845 lien withdrawals, an increase of 18% over the same period in 2012. While that’s great news for the nearly 7,000 people who managed to get these taken care of, there are still far more who may qualify but aren’t aware of the program or don’t know how to take advantage of it. I’ve seen firsthand how unaware people are of this policy. Not long ago, I reviewed the credit report of a friend who had two tax liens on his credit reports. Though he had paid them off a couple years prior, he had no idea he could request they be removed from his reports. Using the instructions in this article, he was successful in getting them off his reports. Do you have a tax lien on your credit reports? Here’s how to take advantage of the Fresh Start initiative. 
1. Determine If You Qualify You can qualify to request your lien be withdrawn, if:
·         Your tax liability has been satisfied (you’ve paid what you owe) and your lien has been released;
·         You are in compliance for the past three years in filing your individual and business returns, and information returns (as applicable) and;
·         You are current on your estimated tax payments and federal tax deposits, as applicable.
Even if you haven’t paid the IRS what you owe, you may be able to qualify for this program if you currently owe $25,000 or less and have entered into a direct debit installment agreement where your payments to the IRS are taken from your bank account automatically. There are other requirements you’ll need to meet, including that you have made at least three direct debit installment payments successfully and that you have not defaulted on a previous installment agreement. 
2. Apply to Have The Lien Withdrawn If you believe you qualify, fill out IRS Form 12277, Application for Withdrawal. It’s a fairly simple one-page form, with one page of instructions. Complete it and send it to the IRS per their instructions. If the IRS approves your request, it says it “will file Form 10916(c), Withdrawal of Filed Notice of Federal Tax Lien, in the recording office where the original NFTL was filed and provide you a copy of the document for your records.” 
This means you will have a written record that the lien has been withdrawn. You can ask the IRS to then notify the credit reporting agencies of the withdrawal, or you can supply that notice to them yourself.
Once the credit reporting agencies process your request, the lien will be withdrawn and your credit report and scores will treat it as if it never existed. Note that this is not a process you need to pay a credit repair firm to do on your behalf; it’s something you can handle on your own. If you normally work with a tax professional, you may ask them to help, but even that may not be necessary in most situations. 
Will It Help My Credit Scores?
Getting a negative item like this one removed from your credit reports will often help your credit scores. But how much will your credit scores change when the tax lien is withdrawn? It depends on a number of factors, including how old the lien is and what other type of information is in your reports. For that reason, it would be smart to review your credit score before the lien is removed and then continue to monitor it after the fact. 
Still, the fact that there are no liens reported can be helpful when applying for another loan such as a mortgage.
You need any advice or help in your real estate needs, please do not hesitate to call me at 619-665-5360  -Jason Coriano


SOLD!!

 

 

 

 

 

 

 

SOLD in Chula Vista 3BD/2.5BA for $350,000                                                                                  SOLD in Downtown!! 2BD/2BA for $350,000

 

 

 

 

 

 

 

 



Selling in 92103!

Sales are hot in Mission Hill/Hillcrest!!! Based on the homes that closed this past week they had stayed on the market an average of 40 days.  Our average sales price last week was $826,630 with an average of 1,679sq. ft.  Thus making a total of $479 per sq. ft.

Call me today at 619.665.5360 or email Jason@MetroSDRealty.com.  I look forward to hearing from you!

ADDRESS  BD/BA    SQ.FT  SALE PRICE  PR/SQ.FT
1250 Cleveland Ave. 207    1/1     850   $350,000    $411
3688 1st Avenue 27    2/2     943   $370,000    $392
3819 1st Avenue 208    2/2     922   $425,000    $460
2651 FRONT STREET 301    2/2     1,259   $601,000    $477
33634 SW 7th Ave. 7-BC    3/3     1,862   $790,000    $424
4047 Bay View Ct    2/2     1,754   $865,000    $493
4364 Valle Vista    3/2     1,412   $840,000    $594
3692 Brant    3/4     2,540   $1,025,000    $403
3202 3rd Avenue    4/4     2,956   $1,295,000    $438
2445 MARILOUISE WAY    3/3     2,297   $1,595,000    $694
AVERAGE:     1,679   $826,630    $479

 



Million Dollar View in Del Cerro

It’s that time again, for another listing in Del Cerro!! I am excited to present my new home for sale sitting atop San Diego with these spectacular sunsets and panoramic views of San Diego! This elegant home is 4 bedroom 3 bathrooms and 2,524 sq.ft so its very spacious. Large private backyard deck to enjoy the views! Call me for more details 619-665-5360

 

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This is what SOLD in Pacific Beach this past week!

Sales are hot in Pacific Beach!!! Based on the homes that closed this past week they had stayed on the market an average of 39 days.  Our average sales price last week was $770,400 with an average of 1,402sq. ft.  Thus making a total of $586 per sq. ft.

Call me today at 619.665.5360 or email Jason@MetroSDRealty.com.  I look forward to hearing from you!

Address   bd/ba     Sq.ft   Sales Pr.   Pr/sq.ft
1144 Hornblend Street    2/1     868   $440,000    $506
881 Thomas Avenue 15    2/2    1,207   $555,000    $459
1009 Tourmaline Street 4    3/3    1,332   $589,000    $442
826 Pismo Court    1/1     499   $550,000    $1,102
856 Diamond Street    3/3    1,600   $700,000    $437
1221 Parker Place 16    2/2    1,283   $729,028    $568
1528 Beryl St    2/2    1,323   $873,500    $660
1338 Missouri    3/2    2,033   $1,100,000    $541
5076 PENDLETON Street    4/4    2,509   $1,397,069    $556
Average:    1,406   $770,400    $586


Selling in Point Loma!

Sales are hot in Point Loma!!! Based on the homes that closed this past week they had stayed on the market an average of 22 days.  Our average sales price last week was $816,830 with an average of 1,707sq. ft.  Thus making a total of $494 per sq. ft.

Call me today at 619.665.5360 or email Jason@MetroSDRealty.com.  I look forward to hearing from you!

             ADDRESS BD/BT EST. SQ.FT. SALES PRICE   SP/SQ.FT.
3560 Quimby Street    3/2       968   $578,400    $597
3542 Wawona Drive    3/2       1,280   $575,000    $449
3629 Wawona Drive    4/2       1,352   $710,000    $525
2687 Chatsworth Blvd.    3/4       2,447   $920,000    $375
3436 Dickens Street    3/4       2,488   $1,300,000    $522
AVERAGE:       1,707   $816,830    $494

 

 



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