Eastlake Project and Falling Home Prices

Eastlake Project and Falling Home Prices

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Just wrapped up another great project down in South Bay near the Eastlake/Otay neighborhoods. This is really a great family home located on a pride of ownership culdesac in a newer track home development originally built by McMillian in the 1990’s. The floorplan is really familiar and reflective of a lot of homes built in the 90’s in San Diego.

The San Diego real estate market is in the beginning stages of a what we think is a huge correction. We are now seeing median home prices drop for the first time in 13 years. Needless to say, all this was fueled by QE and low mortgage rates. The market seemed to peak around May 2022, since then we have lost 10% on median home prices. Nobody thought prices would drop with less than 2 months of inventory, but I predicted this would happen and we adjusted our buying criteria to be safe. As of August 12, 2022 the San Diego median home price is $805,000, down from $865,000 on June 3rd. 

With inflation and higher interest rates, the squeeze is on. Affordability is at a 40-year low so combined with plummeting consumer confidence from the recession, buyers are feeling cause for concern. Almost 30% of homes in San Diego listed for sale have reduced asking prices at this time. The days of 20 offers on the first weekend and $100k overbidding are long gone but this is a healthy situation needed to move into a more normal market.

The home is 5 bedroom, 3 bath with 2400 s.f. We did a complete remodel with all new surfaces. Newer homes like this are usually a breeze because the electrical and plumbing are in good shape and there is no need to make floor plan improvements. There was an April identical floorplan home that sold before the decline for over $200,000 more than we are asking! This is a great deal and reflective of the new normal. 

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Rancho Penasquitos Townhome

Rancho Penasquitos Townhome

New townhome in Rancho Penasquitos with Poway School District!! We bought this home direct from the owner this Spring “as-is” and took it with a problem tenant who had not paid rent in 2 years using COVID as the excuse. After $2,500.00 in attorney fees and multiple trips to the property trying to convince her to leave, I finally got the keys. Entering the property was quite a shock, they had left everything behind and it was quite a mess.

Real Estate prices have jumped in this complex, my exit price projection based on comparable sales was only $430,000 when I bought it. It’s on the market now and all redone for $499,000-$549,000 MLS# 220012628 and in the award winning Poway Unified School District. This is the second-best school district in the San Diego area and 14th best in California for those of you looking for good schools in San Diego. Listed with Atkin Homes. We had 6 showings yesterday and don’t see a problem getting what we want for this great townhome in Rancho Penasquitos. Stay tuned!

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Allied Gardens is Live!

Allied Gardens is Live!

 

Our newly completed Allied Gardens bungalow is so cute! We are certainly loving the transformation on this house flipping project. This unique property with great elevation is located on a very private and quiet Allied Gardens street with surrounding views. The inviting front porch just makes you want to take a seat and relax after work while seeing your neighbors out and about walking their dogs. The vertical large house numbers and the horizontal porch rail design gives it a beachy coastal vibe. Just listed for $899,900 and now on the market. MLS# 220011058

House for sale
House for sale
front porch on house

The front door color is SW 7701 Cavern Clay. This is a play on a traditional red front door but modernized to fit our palette. Leaning more terra cotta, it has brown undertones and really went well with the existing brown roof. Keep in mind these real estate photos are shot in HDR. In person this color is not so orange.

My accent siding choice is SW 7046 Anonymous. It also is a greyish-brown to tie into the brown roof.  This is my first time using this Sherwin Williams color on a house we bought to flip, I wanted something bold for this siding panel and it makes a great statement. Picking exterior house colors to go with a brown roof can be tricky, I am very happy with what we pulled off here.

We really made this floorplan work by opening up the wall and rearranging the kitchen layout with a small island, walking into this home you would never feel it is only just over 1000 square feet. The original kitchen had the sink in the corner under the window, this definitely wasn’t going to work so we moved it to the island along with the dishwasher as our only choice.

Tons of light comes in and makes this space feel very welcoming. I went lighter than we normally do also on the waterproof flooring material to make the space feel larger. Using a LVP material or waterproof flooring allows us to seamlessly run the flooring through the wet area being the kitchen. We even managed to squeeze in a pantry with the new configuration as well as leave a generous allowance of space for a dining room table.

remodeled kitchen photo
Once again I kept the bathroom tile choice very clean and timeless, not getting too trendy. White subway tile in large format is combined with wood-look porcelain floor tile and matching niche. It truly is the perfect little bungalow for a family starting out or a young professional from nearby Mission Valley or Kaiser Hospital. I just love the Allied Gardens vibe, it’s very sophisticated but hip.  
Stay tuned and we will see how the market reacts. Even though we went live on Mothers Day weekend we are getting showings and the feedback has been great. Selling a home at this time of the year is no prooblem in San Diego, the market is still holding up and with the San Diego Median Home Price now $1,000,000 this is right in line for being completely redone. 
Otay Mesa is SOLD!

Otay Mesa is SOLD!

Hooray, after multiple offers we opened escrow with a military family and the house is now sold! Congrats to the new owners who were VA Loan buyers. A lot of investors here in San Diego and house flippers hesitate to accept a VA financed offer. The real estate agent representing this VA Buyer did a good job so we went with them and crossed our fingers.

 VA appraisals can be strict sometimes but I wanted to sell to this buyer because we had other military families all living right around the property from what I observed. They offered $802k and I knew it would likely not appraise as the highest comps were around $770,000.

Home values in San Diego have been increasing around $10k a month but this appraiser did not give me a penny over the last sale of $770k. Any time a VA appraisal comes in short it gets sent to an online portal called Tidewater. Here, you have an opportunity to rebut the low appraisal and try and get it bumped up. It all worked out, the buyer chipped in an extra $10,000 out of their pocket and we ate $22,000 so the final sales price was $780,000. 

Still an awesome deal and I am happy to make a dream come true for a military family. On to the next house! 

Otay Mesa is Done!

Otay Mesa is Done!

We just wrapped up a really nice remodel here in San Diego down South near Mexico in Otay Mesa. This is a great entry level neighborhood and a good choice for military or anyone wanting to be close to the border or Imperial Beach without spending a million bucks. We listed at $769,900.

I am so happy with how it came out, we did everything new from the windows to the flooring. It’s a 3 bedroom, 2 bath and the best part besides the awesome military neighbors is the direct access to the 7-acre Montgomery-Waller Community Park and Rec Center in the back yard. I kept the home design and colors very easy and safe.

The exterior stucco color is Sherwin Williams SW 6149 Relaxed Khaki. I love using this neutral color when we have an existing brown roof to work with. The trim outside is SW 7005 Pure White and the front door pop color is my favorite Behr 480F-4 Mermaid Net.

For the interior walls I have been using Sherwin Williams Drift Of Mist SW 9166. This is a great color but it can be tricky and show grey undertones depending on what kind of light you are getting in the rooms. If you have a sunny location it’s almost off-white with a hint of green. This property is a true winner, hurry before it is gone!

Home staging by: Universal Staging Company

 

 

Green Button Homes is the original “We Buy Houses” company in San Diego. With 17 years experience we are here to help you navigate your off-market and private home sale process. We make it easy to sell your house “as-is” and with no real estate agents. We always buy houses in their current condition and never ask for repairs or credits once we sign a deal. A local escrow company is used to handle to transaction and we cover all the costs. It is even possible to close on the property with a tenant in place and/or buy your home and give you time to move. Please give is a call, text or email and lets work together to find an arrangement that creates a win-win for both parties!

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New Otay Mesa Project!

New Otay Mesa Project!

Look at this new purchase we just made down near the Mexico/USA border in Otay Mesa! This house was a long term rental with a lot of deferred maintenance although it is on a great street with really good neighbors. I had been in disussions with this homeowner for quite a while and then when COVID hit (they actually got sick) the plans to sell the house were put on hold.

I always personally follow up with the leads we get. When you sell to us you deal with me personally through the whole transaction. Hundreds of San Diego homeowners have sold to me personally over the years. I have more experience navigating through the sale process than most real state agents. We always use a local escrow company that handle the transactions for us. These sellers appreciated my non-pushy nature and we finally struck a deal and closed the sale within 2 weeks with the tenant in place. Selling a house usually requires cleaning and fixing things as well as getting it vacant. In this case I acquired the tenants with the house and worked with them in a legal and ethical manner to relocate. In the case of this property, we paid $40,000 more than a competitor that solicited them! With 15 years of local homebuying experience, we are the most trusted choice for an easy home sale in San Diego with no realtors involved getting commissions.

Stay tuned for the remodel on this one and we appreciate referrals and are always looking to buy more houses in San Diego.

 

Vista Flip Sold!

Vista Flip Sold!

No sooner did this hit the market than we got multiple offers and it is now SOLD to the new owner. We got $860,000 which was way more than anticipated in the sellers market we are experiencing in San Diego. This was a massive project that took 2 months to remodel. We hauled off 9 dumpsters of debris from the property during the job. This was one of the best lots at the end of a private culdesac and coming in at nearly 1/3 of an acre.

The house was a 3 bedroom, 2 bath with a huge master suite that included attached indoor laundryroom and a fireplace. This area of Vista in San Diego is a little more commercial than most areas we work in but it was a nice location just a block from a Elementary school. We did everything possible to this house from a new roof down to fixing a crack in the slab foundation. 

 We opened up this kitchen to make the most of our space. Clean white Shaker cabinets and quartz counterops were used per our normal package. I love the open shelving area next to the fridge and the abundance of white subway tile gives a real timeless look that wont go out of style. Home design trends for 2022 have leaned a little more modern, but I hesitate to follow so as to appeal to most homebuyers. We buy a lot of houses FSBO, For Sale By Owner to remodel and resell. 

We bought this property directly from an out-of-state landlord who was tired of the tenants and lack of timely rent payments. We paid cash and took it “as-is” and it took almost a year to get things turned around.

We left the backyard a huge blank canvas for the future homeowner to create the space of their dreams however I did add a gravel driveway guessing that someone would have big trucks who would want to live in this location. You never know who will end up buying the property, my landscaper fell in love with it but the buyer ended up not even having the need for it.

The colors for this project were:

Exterior Siding: James Hardi Evening Blue

*special note. The pics are shot in HDR and do not accurately reflect this true color which is way darker and more of a grey/blue.

Exterior Trim: SW Pure White

Interior Walls: SW Drift of Mist

Interior Trim: SW Snowbound

Big Clean Up in Vista

Big Clean Up in Vista

We got our hands full with this remodel. I bought this property in Vista, CA directly from an out-of-state landlord, the tenant has been in this house for 15 years and has not paid rent in the last 2 years. We made the seller a good cash offer to buy the house considering the condition and situation, also agreeing to take over the headache with these tenants in default.

The seller was in a time crunch having identified a vacation cabin in Big Bear that they wanted to do a 1031 tax deferred exchange into. We closed in 1 week as-is and then introduced ourselves to these tenants and started the legal process of getting them relocated.

This may look overwhelming but it is essentially just a bunch of trash that needs to be cleaned up. Once we clean everything up we can start with the remodel as usual by getting styarted putting a new roof on.  If you have a house that you want to sell in San Diego, we are the most trusted local homebuyer and would love to take a look.

We buy houses “as-is” and take care of all the transaction expenses using a local escrow company. With 17 years in the house flipping business, we have more experience than anyone in town and can assure you a very easy process of selling your unwanted home. Any conditon is o.k. and we love fixer uppers!

Sold in Imperial Beach Again!

Sold in Imperial Beach Again!

Another great home in the books for 2021! This remodel down in Imperial Beach was completed in 6 weeks and sold to an investor as a rental house oddly enough. Usually our remodeled homes sell to people who want to live in them, not as a rental house right out of the gate. This home buyer happened to have family nearby so he wanted something to rent out now and possibly move into later. 

A long time landlord sold this house to us after searching for “who buys houses in San Diego.” After speaking with them we found out that the tenant had lived in this property for many years and had made a deal to do any repairs to the home in lieu of getting their rent increased. needless to say the home had a lot of deferred maintenance so this was a perfect fit for our homebuying criteria. Any time there are things that need to be fixed or old original kitchens from 1960 its time for a total makeover and full remodel.

Green Button Homes is the original “We Buy Houses” company in San Diego. We buy homes all over San Diego County, from as far North as Oceanside or Escondido and all the way down here to the Imperial Beach/Otay Mesa area. Selling your home to us is easy, we take houses as-is, pay all the closing costs and can even close with the tenant in place. Many homebuyers in San Diego will not buy a house with an existing tenant due to the eviction laws and tenants rights. In this case we closed on the property in 2 weeks and took the tenant and worked with them fairly to relocate.

If you have a house to sell in San Diego give us a call, we are house flippers and always pay cash and love fixer-uppers. You will find it easy to deal with us as we have purchased houses from hundreds of San Diegans over our 17 years in business. Learn more about the process of selling your home to a cash buyer in San Diego by clicking here.   

Exterior Paint Color: Behr 790C-3 Dolphin Fin

Interior Paint Color: SW 9166 Drift of Mist

Front Door Color: Behr Mermaid net 480F-4

Serra Mesa Remodel Video

Serra Mesa Remodel Video

It’s always fun to see the whole process after such a killer transformation. Here is a house flipping video I put together that shows what kind of love and care we put into this home over the 6-week remodel. The property is located in Serra Mesa, a San Diego centrally located neighborhood. We bought the house directly from a retiring landlord who simply wanted to cash out.

The house needed extensive repairs so we bought it “as-is” and he didn’t even have to pay realtor commissions.  It is so rewarding to truly make such an impact on improving neighborhoods in the city we love. The white exterior color palette and the light wood accents are really on trend right now and our design came out just as imagined. Subscribe to our YouTube Channel for future projects. Hope you enjoy!

Another Serra Mesa Remodel Complete!

Another Serra Mesa Remodel Complete!

We wrapped up what turned out to be my favorite house flipping project in Serra Mesa. I’ve bought and remodeled probably 5-6 in this neighborhood, but this one came out to perfection! No faster did the home  hit the market for sale over the Labor Day weekend than we got multiple offers and it is now in escrow sold to a new buyer. Thanks to everyone who helped and made this transformation come to life! Keep us in mind for any fixer-upper “as-is” homes, we are always looking for a house to buy and transform into something special!

Exterior Paint Color: SW 7008 Alabaster

Interior Paint Color: SW 9166 Drift of Mist

Front Door Color: HDC-CL-18 Cellini Gold

Bamboo Woven Kitchen Pendant Lights: Urban Outfitters

 

Making Progress in Serra Mesa

Making Progress in Serra Mesa

After the demo we got started rebuilding the house with the most important part, retexturing. Having uneven or mismatched texture wont fly with me so we got everythis looking good. After the new roof went on we did dual pane windows and added new central air conditioning with all new ductwork.

Out front I decided to incorporate a private front yard by building a low horizontal wood fence and gate to add some privacy from the street. So the mailman won’t have to walk to your front door, I moved the mailbox to the front of the garage. I think we will xeriscape this front courtyard to make this little oasis maintenance free.

The old board and batten siding on this 70 year old home had seen it’s better days. We replaced the entire front and rear with James Hardi 7″ reveal horizontal siding. This will make the paint job come out perfect in leiu of spending hours sanding and filing the old wood siding.

The old cobble rock retaining wall near the sidewalk is replaced with a modern CMU block wall left raw intentionally. Tile jobs are getting started. I am staying with a sophisticated whire ceramic lareg format tile for the bathrooms. To keep the lines extra crisp i opted to run the pattern stcked, AKA “running bond” instead of a subway pattern. For this house I am going for an all white look, super mature, with no crazy pattern tiles or typical flipper greys.

You are not going to want to miss this total transformation! Stay tuned for the remodeling updates and thanks for following along. We are the most experienced and trusted San Diego house flipper and cash home buyer. We buy houses in all San Diego neighborhoods as-is and take them in any condition. What you see here is how they turn out when they go from old rental condition to something a new family will cherish for another 70 years. When selling a San Diego house to us you can expect a hassle-free transaction and remove all the uncertainty and expense of dealing with realtors.  

Back in Serra Mesa

Back in Serra Mesa

We are happy to be in a little higher priced market working this summer with our new project. Serra Mesa is on the hill right above the old Qualcomm Stadium location and for those in the know it’s home of a billion dollar SDSU satellite campus location now with Aztek Stadium, something the Chargers seemed to never be able to pull off. We have remodeled a bunch of homes in this neighborhood and Serra Mesa is seeing some big time gentrification and is a solid bet for future growth in home prices. Serra Mesa home prices range from $850,000 to the high $900’s for little 3/2’s! We get to step up the design and materials on this one so its going to be a killer transformation.

You can see here the home is mostly original, we purchased this property from a tired landlord that simply wanted to cash out and retire. Even though the house was rented out, there was deferred maintenance issues but we bought it as-is. The seller benefited from an easy and fair sale without having a bunch of people through the home disturbing the tenants and didnt have to pay any realtor commissions or closing costs. Stay tuned for the complete remodel, we will make this house the shining star of the block and make all the nieghbors very happy!

Emerald Hills Project Done!

Emerald Hills Project Done!

We just wrapped up this 2021 house flip in the great San Diego neighborhood called Emerald Hills. This is one of the still semi-affordable neighborhoods left with prices in the mid 600’s. I had purchased this house directly from the homeowner who wanted to sell it without making ay repairs or paying realtor commissions. The remodel came out great as you can see. After listing for $650,000,  this home went under contract and is now in escrow to a new owner. It’s a very rewarding to improve the neighborhoods and make a difference in the community we love and call home.

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The design styles we picked for this project are meant to appeal to a large number of buyers. I did not want to get too specific or trendy and turn anyone away. When working within a budget it is critical to spend the money in the right places and not cut corners. Most house flippers in San Diego use flooring that costs close to $1.00 per square foot. We use water resistent wide plank and spend over $3.00 per square foor. All the interior doors and base boards are changed as well using a higher end single panel design instead of the less-expensive 6-panel door others use.  I like the second driveway this house has and ability provided for boat or RV parking off street. You can even pull all the way back into the back yard if you want. We did new kitchen, bathrooms, flooring and paint to make this great home ready for a new family.

The design styles we picked for this project are meant to appeal to a large number of buyers. I did not want to get too specific or trendy and turn anyone away. I like the second driveway this house has and ability provided for boat or RV parking off street. You can even pull all the way back into the back yard if you want. We did new kitchen, bathrooms, flooring and paint to make this great home ready for a new family.

green button homes
tile job

Green Button Homes is the original We Buy Houses company in San Diego. We have bought hundreds of houses directly from San Diegans and provided solutions to real estate problems and alternative home selling options for almost 20 years. If you have an unwanted rental house, inherited property or just want an easy hassle-free sale please contact us here on the website. 

San Diego Home Buyers

San Diego Home Buyers

We buy houses in San Diego direct from homeowners like this one featured here. When selling a house as-is to us, there are no realtor fees or closing costs taken out of your home sale proceeds. In April we purchased this house direct from the homeowner and gave her time to find a new place, eventually even helping her with the move since she didn’t have any local help. This fixer upper house is located in the San Diego neighborhood of Encanto.

We will be doing a complete remodel on this property and bring it back to the market for a new family this summer. My plan is new kitchen, flooring, paint, bathrooms, landscaping and remove this security fence around the front yard. If you know of a fixer upper or house that needs some work please contact us. We buy houses in all San Diego neighborhoods and always looking for more projects. Stay tuned to see this remodel come to life!

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