2023 Santee Project

2023 Santee Project

We finally finished the Santee project that has been center of our universe this year. Words cant describe how proud we are of the results of all this hard work. Big thanks to my talented team of workers who all made it possible. We went with a clean white pallette, light wood accents and flat panel upper kitchen cabinets this time. The Terrazzo fireplace and wood veneer slatwall detail under the bar are my favorite features for sure. Outside I went with all white and the trim is a soothing blue/grey color. We did new roof and central air conditioning as well. My crew even blew in all new attic insulation to combat the tough Santee summers! This property is now listed in the MLS for sale at $849,000. MLS# 20002963

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New Santee Project 2023

New Santee Project 2023

Santee, CA has really changed over the years. I am excited to be back over here starting our second remodel for 2023. If you have not been to Santee in a while, you might not recognize it. There is a whole new shopping center called Trolley Square with a trolley stop and all the best stores, shops and eateries.

We bought this home from a tired landlord with the tenant in it who has lived in the home for 30 years! Very nice people to deal with, we made them a very fair offer and beat out another investors price to get the deal. I worked with the tenants to relocate after we closed the sale. This is a really awesome pocket of Santee, I have some really cool ideas to try out on this remodel and plan to take it up a notch on the material choices. Stay tuned for a great project!

 

Eastlake Sold!

Eastlake Sold!

SOLD! This great Chula Vista home sold to a very nice family from the area and with relatives nearby. It’s great to see this happen and we are so proud of making this a very special home for this wonderful family. Green Button Homes (619) 438-0234 tom@greenbuttonhomes.com. We Buy Houses in Chula Vista and surrounding areas.

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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