La Jolla Real Estate Blog

What is going on at the San Diego Air & Space Museum?

Yesterday was another beautiful day in San Diego and I decided to head over to Balboa Park to walk around to see what is new.  One of my favorite museums at Balboa Park is the San Diego Air & Space Museum and while taking a photo of the front of it, a plane, on its descent to land at Lindbergh Field, passed over head. 

I simply don't have a caption for this photo... it is one of those times that when I look at it there are too many quirky thoughts racing through my mind and it leaves me... speechless.

San Diego Air & Space Museum

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

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Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

1 commentLaxson Realty l La Jolla Real Estate • September 02 2010 12:11PM

For Sale By Owner | 5 Reasons To Avoid Selling Yourself | Austin, TX (Day 1)

The post below was written by Aaron, who happens to sell real estate in Austin, Texas; however I think it can apply to "For Sale by Owners" around the country.  Read below for the reasons that most of us experienced agents think you should consider before embarking on trying to sell your home yourself...   ~ Susan

Via Agent Aaron | Hill Country TX Homes For Sale | Austin TX MLS | Avoid Foreclosure (Austin Texas Homes, LLC):

For Sale By Owner | 5 Reasons To Avoid Selling Yourself | Austin, TX

F.S.B.O. is viewed as B.S. by many potential homebuyers.So, you live in a major subdivision where the builders are still building (even after all these years) and there are lots of homes for sale. But maybe you don't like it here. Maybe you're thinking about moving away and starting fresh with a new job and a new lease on life.

Got to sell the home first, though. Don't want to be a landlord, and who could blame you.

There seems to be a lot of traffic in your neighborhood, so maybe you think you can sell your home all by yourself. Don't need to spend all that money on a REALTOR®.

Heck, you know more about your house than anybody else. Really care about it! You are sure you can show off its wonderful unique qualities to an eager buyer. (Never mind that there are about 20 homes with the same floor-plan for sale right now)

But WAIT! I am here to tell you that you should not go it alone! Here are 5 great reasons to hire a real estate agent (preferably a REALTOR®) to help you sell your home:

1) Market pricing: In a typical F.S.B.O. (For Sale By Owner), you are going to have trouble getting accurate figures on "sold" prices for the recently-sold homes in your area. An agent has access to all the final sales data you will need. (Grabbing a bunch of fliers from other homes for sale in your neighborhood and making an educated guess with the asking prices is NOT a good way to decide a sales price for your home)

2) Skittish Buyers: When the market is hot, sometimes people get lucky with a For Sale By Owner home because the demand is so high that some buyers will jump through hoops to find a home. But qualified buyers are very rare these days, and they rule the roost, so to speak. They see buying a home from an unrepresented seller as a risk. And skittish buyers don't like to take risks.

3) Emotional Rescue: Have you ever gotten into a confrontation with a neighbor about an alleged misdeed or breach of HOA rules? Can you imagine how unpleasant that might be? Well, that is quite possibly how a negotiation might go between two parties who are emotionally invested in the outcome. When each side has a licensed negotiator working for them, there are checks, balances, and level heads to help keep things friendly and moving forward.

Sellers can suffer due to rose-colored glasses.4) 20/20 Blindness: You may very well have perfect vision, but chances are you have a nice set of rose-colored glasses you put on each time you look at your home. Unfortunately, those come from a custom prescription, and potential buyers don't have the same pair. A real estate agent can look at your home and suggest things you can do to make it sell faster for a better price.

5) A Lawsuit May Not Suit You: Suffice it to say that a home is probably the biggest investment your potential buyers will ever make. And there are many rules and regulations that are designed to protect the buyer, as well as the seller. There are very specific things a seller can't say or do when selling a property. And the courts don't accept ignorance of law as a defense. Real estate law is serious business. Guidance from a real estate professional can really help you stay out of hot water.

I am Agent Aaron, and I am happy to offer my services to you. Call me at 512-845-4204 for a no-obligation phone consultation for any real estate questions you may have. And thanks for reading!

— — —

Are you or somebody you know ready to buy or sell real estate?
I don't mind working hard to earn your trust and loyalty.
Hope to avoid foreclosure? I can help with your short sale.
I am happy to help you when you need it — no sales pressure.

— — —

http://www.copyscape.com/

Contents deemed reliable but not guaranteed; stats based on AbOR MLS listings; ©2010 Agent Aaron; all rights reserved; disclosure

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I have been in real estate since 1992 and offer my no-pressure real estate services to you and your family. I help buyers find homes for sale in all of Central Texas, including in Kyle, Buda, Dripping Springs, and Austin.

— — —

Agent Aaron Austin TX MLS Logo #1Active Rain Agent Aaron Austin Area MLS

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

2 commentsLaxson Realty l La Jolla Real Estate • September 02 2010 11:36AM

Why Do Second Mortgages Have Such High Rates?

Thinking of taking out a 2nd Trust Deed on your property?  Wonder why your mortgage broker has told you that you would be paying a higher interest rate?  Here is a good explanation of the process from Brian Brady...   ~ Susan

Via VA Mortgage Broker in California/858-777-9751:

Second trust deeds, be they home equity loans or closed-end, amortizing mortgages carry a higher interest rate than first trust deeds because of the inherent risk associated with them.  Borrowers often ask me what the risk REALLY is because they are smaller and often have good equity positions.  Let me demonstrate to you the HUGE risk a lender takes when he takes a second-lien position.

Let's assume that the property was worth $400,000 in 2007 and declined to $300,000 today.  The borrower owed $250,000 in 2007 and wanted $100,000 in cash.  Two lenders offered solutions:

CalBank wanted to loan $350,000 at 5%, in a first-lien position and Fornia Equities offered a $100,000 second mortgage at 8%.  Wasn't that extra interest Fornis Equities earned worth the risk associated with a second mortgage? 

If the property goes through foreclosure, and the net proceeds are $300,000 today (forget the foreclosure and sales costs), CalBank would lose $50,000.  CalBank would have earned some $52,500 in interest so their net earnings, over the three year period, would have been some $2,500.

Fornia Equities however, would have earned $24,000 in interest but lost $50,000 in principal.  They would have suffered a $26,000 loss on a $100,000 investment. Not good.

The leverage associated with the second lien position, in a declining market, accelerates the losses. 

To properly analyze this, we must understand that both CalBank and Fornia Equities would have spread the risks over 100 loans or so,  First liens are defaulting at around 10% while second mortgages are defaulting at close to 20% today.

CalBank would have lost some $500,000 in principal but collected 5,250,000 in interest.  They would have earned a net $4,750,000 on an investment of $35,000,000 or 4,5% annually.

Fornia Equities would have lost $1,000,000 and collected $2,400,000 in interest, from the 100 loans. Fornia would have had to advance another $5,000,000, to "cure" the twenty (defaulted) $250,000 first liens in a foreclosure.  They would have lost the use of that money for about 6-8 months.  Fornia had to invest a total of $15,000,000 to earn $1,400,000 in interest for an annual return of about 3%.  To properly compensate Fornia Equities for the risk, they would have had to earn a net $2,000,000, or $600,000 extra.  To achieve that, they should have been charging some 10%.

This is why there is a "spread" of 5-6% between the rate for a first lien and second lien.

If you have a need for a second mortgage, apply online here.

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

0 commentsLaxson Realty l La Jolla Real Estate • September 02 2010 11:29AM

La Jolla Historic Hotel - The Grande Colonial

Overlooking the Pacific Ocean, the Grande Colonial La Jolla was built in 1913 on  Prospect Street in the heart of theOld Grande Colonial Hotel in La Jolla village of La Jolla.  The Grande Colonial is La Jolla's oldest original hotel and is on the registry of Historic Hotels of America.  The original white and wood framed hotel was first named "The Colonial Apartments and Hotel" and soon became a popular spot for out of town visitors, celebrities and locals. 

In 1926, the nearby La Jolla Drug Store was purchased by the owner of the Colonial and moved inside the Colonial, who then added an ice cream parlor on the sidewalk that served up vanilla malts, chocolate sodas and banana splits.  It is said that the drugstore became a prime location for locals to gather, talk and watch the people walk by. The pharmacist, employed at the drugstore, was known to be well loved by the townspeople, and was also the father of Gregory Peck, the famous movie star who grew up in La Jolla and eventually moved to Hollywood.  Later on, the Colonial was a temporary home to some of Hollywood's up and coming stars that were performing at the La Jolla Playhouse, founded by Gregory Peck. Charlton Heston, Dorothy McGuire, Groucho Marx, Jane Wyatt, Eve Arden, Pat O'Brien, David Niven and many other celebrities stayed at the hotel during the 1940s and 1950s.

Today's Grande Colonial in La JollaToday, after several owners and remodels, the Grande Colonial is one of the most elegant hotels to stay in and is centrally located just steps away from La Jolla Cove, the village of La Jolla with its eclectic and high end shops, gourmet restaurants, sidewalk cafes, and art galleries.

The Grande Colonial La Jolla, property has an outdoor heated swimming pool and a health club is nearby. The rooms are beautifully decorated with Renaissance style furniture and most feature spectacular village and ocean views.

One of my favorite restaurants in La Jolla is in the Colonial, it is called "Nine-Ten".  This delightful restaurant, is not your typical hotel restaurant, it actually has exceptional food, wonderful service. You can also enjoy your meals at the sidewalk café and relive the days of yesteryear when the locals used to sit at the sidewalk ice cream parlor in front of the Colonial and watch the passersby stroll down Prospect Street. 

The Grande Colonial Hotel... another "gem" of La Jolla!

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

7 commentsLaxson Realty l La Jolla Real Estate • August 29 2010 10:20PM

Take a Hike at Torrey Pines State Reserve in La Jolla, CA

Torrey Pines State Reserve in La Jolla, CALooking to take a hike?  There is no better place than our La Jolla Torrey Pines State Reserve!  Sitting high on a hilltop plateau overlooking Torrey Pines State Beach, the historic park has long been a favorite with hikers looking for an easy to challenging walk, depending on the trails you take, and beautiful scenery.  A day-use pass costs $10 and the park is open from 8 a.m. until sunset daily. 

The park also features a museum at the Visitor Center (lodge) with exhibits of the Reserve's natural and cultural history which is open daily at 9 a.m.  Guided nature walks are also available depending on the season.  Contact (858) 755-2063 for more information.

 

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

2 commentsLaxson Realty l La Jolla Real Estate • August 29 2010 07:26PM

September 2010 Theater Events in San Diego

Two great San Diego theater events are taking place in September.  The first at the La Jolla Playhouse isLa Jolla Playhouse "Limelight:  The Story of Charlie Chaplin" scheduled to open September 7th and run through October 17th.  This world premiere musical looks into the life of the comic genius who became a Hollywood icon.  For tickets call (858) 550-1010 

The Old Globe in San Diego, CAThe second theater event is at the Old Globe Theater in Balboa Park.  "Brighton Beach Memoirs" is scheduled from September 14th through November 7th.  This is Neil Simon's classic "coming of age" about a young boy trying to figure out where he fits in the world.  For tickets call (619) 23-GLOBE.

 

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

0 commentsLaxson Realty l La Jolla Real Estate • August 29 2010 06:46PM

"Shake, Rattle & Roll" at the Birch Aquarium in La Jolla, CA

Birch Aquarium is featuring their 2010 Fall Evening Lecture Series beginning on September 13th.  Earthquakes and Earth's magnetic field will be explored during the first of this three-part series from the researchers at the Scripps Institution of Oceanography at UCSD.

Each program runs from 6:30 to 8 p.m. at the aquarium, 2300 Expedition Way and below is the September 13th program:

  • Sept. 13: "Shake, Rattle and Roll: The Physics of Earthquakes."
    Scripps physical oceanographer Kevin Brown will describe the phenomena that we experience as earthquakes and relate what scientists understand about the physics of the events. He'll talk about techniques that he and his colleagues are using to better understand when, where and how earthquakes occur.

With the recent earth shaking in San Diego, this should be an important event to attend! 

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

0 commentsLaxson Realty l La Jolla Real Estate • August 29 2010 06:26PM

"Green Flash" Concerts at Birch Aquarium in La Jolla

The Birch Aquarium continues the "Green Flash" Concert Series with the September 11th show with Peter Yarrow and Noel Paul Stookey of Peter, Paul & Mary.  This is a special concert and for tickets contact the Birch Aquarium at 858-534-4109.

Birch Aquarium Green Flash Concert SeriesThe last concert will be held on September 15th and Bay area blues-man, Tommy Castro with his band will be performing.  Tommy Castro is the winner of several awards, including the B.B. King Blues Entertainer of the Year.

Both concerts are on the outdoor Tile Pool Plaza overlooking the La Jolla coast and open to ages 21+ only.  While the music is playing, all the aquarium exhibits will be open for viewing.  The proceeds will help support exhibits and educational programming at Birch Aquarium at Scripps.

Enjoy the sunset while listening to great music and watch for the "green flash"! 

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

0 commentsLaxson Realty l La Jolla Real Estate • August 29 2010 06:16PM

Thieves Burglarize La Jolla Home Being Fumigated

Fumigation TentingThis is a local news story, but one I think can happen anywhere.  Recently a home in my La Jolla neighborhood was burglarized while it was being tented for fumigation.  Of course, as homeowners, we are told to vacate the premises and find alternate housing when our property is being tented for termites.  The homeowners followed the instructions and when they returned they found their home had been ransacked.  The thieves went to so far as to not only taking the valuables, but also stealing the owner's gardening equipment. 

If you are having your home tented, be sure to get a safe deposit box or safe and put your valuables away.  In addition, notify your neighbors that you will be away while your home is tented and to call the police if they see anything suspicious.  Not even the fear of the pesticides used in fumigation are stopping burglars from going into these properties and stealing - don't be a casualty!

 

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

4 commentsLaxson Realty l La Jolla Real Estate • August 28 2010 05:33PM

La Jolla Concerts by the Sea - August 29th

La Jolla Concerts by the SeaThis Sunday's free concert at the La Jolla Cove is featuring Allegato with Allison Adams Tucker and her East/West Jazz Vocals.  Bring the family & friends, a blanket, beach chairs and enjoy the music on Sunday, August 29th from 2 pm to 4 pm.  There will be hot dogs, ice cream, popcorn and drinks for sale. 

Come join the fun as our summer season of the La Jolla Concerts by the Sea winds down to only one more concert on September 5th!

 

 

Susan Laxson of Laxson Realty

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To view any La Jolla, California home for sale or rent, contact us anytime at 760-567-9100 or visit our La Jolla Real Estate website to learn more about La Jolla and its developments. 

Want to learn more about what's happening in La Jolla, CA? Join La Jolla News on Facebook! 

Copyright © 2008 - 2010 Susan Laxson. All Rights Reserved. Information from sources deemed reliable, but not guaranteed. 

0 commentsLaxson Realty l La Jolla Real Estate • August 28 2010 04:51PM