Monday, March 17, 2014

VA Minimum Property Standards Guide

Minimum Property Standards Guide:
Is That Listing Ready for a VA Buyer?

Below is a list of VA Minimum Property Requirements (MPRs) 
for existing homes that can be used as a screening checklist.
 
o    General:  Must be free of hazards that affect the health and safety of occupants, structural soundness of property, or impair the use and enjoyment of property.
o    Handrails required on stairs with 3 or more risers.
o    Severe tripping hazards must be remedied (i.e., major buckling of concrete).
o    25% maximum non-residential use.
o    Mechanical systems must be adequate, safe, and protected from elements.
o    Conventional heating system must be present in all homes to maintain temperature of 50 degrees in areas with plumbing (i.e., wood stove cannot be only heat source).
o    Solar systems for water and space heating must have reliable backup system.
o    Roof must have 2 years of remaining life and no more than 3 layers of shingles.
o    Crawlspace must have adequate access, be clear of debris and be properly vented.  Must have access to ductwork and plumbing.
o    Excessive dampness or ponding of water in crawlspace must be corrected.
o    Natural ventilation of attics and crawl spaces must be provided.
o    Laundry and storage space may be shared in a 2-4 unit.
o    Rear yard must have access.  Row units may be by means of alley, easement, or passage through subject dwelling.
o    Private streets must have permanent easement and be maintained by HOA or maintenance agreement.

o    Streets must have all-weather surface.
o    Living unit must have its own access.
o    Unit utilities may not pass over, under or through another living unit unless there is legal and permanent access for maintenance and repair.
o    Must be space between buildings for maintenance of exterior walls.
o    Termite cert required.  Treatment required if necessary.
o    Lot must drain away from dwelling.
o    Exterior wood must be protected from elements.  Chipped or peeling paint must be remedied.
o    Properties built prior to 1978 must have all defective paint surfaces remedied both interior and exterior.
o    Property cannot be located within a high-pressure gas or petroleum easement.  If located within 220 yards special certifications will be required.
o    Property cannot be located within a high-voltage electric line easement.
o    Connection to public water/sewer disposal systems is only required when mandated by building, planning or health authorities.
o    Private water systems must be tested.
o    Water treatment systems are allowed only if public water is not available and water supply is from aquifer confirmed uncontaminated by health department.
o    Shared wells must be adequate and have maintenance and well-sharing agreements.





Saturday, March 15, 2014

February 2014 is a Seller's market in San Diego County!

February 2014 is a Seller's market in San Diego County! The number of for sale listings was up 38.4% from one year earlier and up 2.3% from previous month. The number of sold listings decreased 16.3% year over year and increased 1.2% month over month. The number of under contract listings was up
16.5% comparing to previous month and up 0.1% comparing to previous year. The Months of Inventory based on Closed Sales is 2.9, up 65.3% from previous year. 

The Average Sold Price per Square Footage was down 3.1% comparing to previous month and up 18.8% comparing to last year. The Median Sold Price increased by 2% from last month. The Average Sold Price also decreased by 4.9% from last month. Based on the 6 month trend, the Average Sold Price trend is "Depreciating" and the Median Sold Price trend is "Neutral". 

The Average Days on Market showed a neutral trend, a decrease of 23.9% comparing to previous year. The ratio of Sold Price vs. Original List Price is 94%, a decrease of 2.1% comparing to previous year. 









Thursday, February 27, 2014

San Diego county’s housing trends at a glance

San Diego county’s housing trends at a glance. Indicators provided are sales, median prices, inventory indicators, and so much more! Our housing market is getting better. Prices are up a little. There are fewer short sales and foreclosures. San Diego county is recovering better than a lot of areas! Click Here for full report.

 San Diego Housing trends

Thinking about buying or selling? Let me help you help you interpret the data and make the right choice for you. Give me a call at 760-757-3468.