What San Diego Homeowners Need to Know About Solar Panels

More and more homes in San Diego are going solar! With so many sunny days, many homeowners are taking advantage of our mild climate and lowering their energy bills while helping the environment at the same time.

Whether you’ve had solar panels for years or are thinking of taking the plunge, here are a few things to know about solar panels and how they factor into your future home sale.

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Purchase or Lease?

You can either purchase your solar system outright or you can lease them. If you opt to purchase, you can pay for them all at once or finance your solar panels and make a series of payments over time. If you lease, keep in mind that it may be more difficult to secure a buyer when you need to sell your home since the buyer will need to assume the lease. The solar company you go with will be able to advise you on your options as well as the savings and costs associated with each, but be sure and thoroughly read the contract to understand the terms and what you are getting. Ultimately, the choice is yours.

Things to Know Before You Sell

Whether you ultimately decide to purchase or lease your solar panels, keep your documents in a safe place. You should treat these papers like you would the documents for your appliances or any other upgrades you’ve made to your home.

If you purchase outright:

-Keep the documents that show you now own the equipment free and clear. The future buyer of your home will want this.

If you finance:

-Keep copies of your solar contract. The new buyer will need to assume your contract with the solar company and not only will you need to show a copy of the contract you have with the solar company, you’ll also need to be able to get in touch with the company in order to transfer your contract to the new owners.

-If you finance your solar panels, let your agent know right away. It may take some time to get in touch with the solar company if they’ve changed names or owners and this issue needs to be resolved in order for the transaction to close. Start this process early so it doesn’t slow down your escrow!

-If you’ve added your solar panels through the PACE/HERO program, be advised that some lenders may require your solar contract to be paid off prior to the close of the sale.

If you lease:

-Keep copies of your solar contract. The new buyer will either need to qualify for and assume your lease with the solar company or you will need to terminate your lease with the solar company prior to the buyer taking ownership of your home. In order for the buyer to assume your lease, you will need to provide them a copy of your solar contract. The buyer will then need to get in touch with the solar company during the escrow process in order to qualify for and assume the solar lease.

Have more questions on solar panels and/or selling your home in San Diego? Get in touch, we would love to help you!

 

May 2017 Real Estate Market in Review

May’s San Diego real estate market in review: As of May 2017, the median detached home in San Diego County sold for $580,000, up 5.5% from the previous year.

Sales Price Detached

As of  May 2017, the median attached home (including condos, townhomes, and twinhomes) in San Diego County sold for $385,000, up 7.2% from last year.

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The average detached home in San Diego spent 19 days on the market.

Market Time Detatched

Condos, twinhomes, and townhomes in San Diego spent an average of 14 days on the market.

Market Time Attatched

As of May 2017, the average seller of a detached home in San Diego County receives 98.1% of the original list price at the close of the sale.

% of Orig Price

As of May 2017, the owners of attached properties (condos, twinhomes, and townhomes) retained 98.7% of the original list price.

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The inventory of homes in San Diego County is still low, which is consistent with what we know that inventory is very tight and not predicted to dramatically improve.

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The supply of attached properties is also quite low.

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Are you interested in seeing this breakdown for your San Diego community or zipcode? Let us know!

We Need Your Help! Vote For CPP in the San Diego’s Best U-T Readers Poll

Help us win the title of Best Real Estate Brokerage in San Diego by voting for Coastal Premier Properties in the 2017 San Diego’s Best U-T Readers Poll!

You can vote once per day at this link through June 26th!

We appreciate all of your continued support!

Vote Here: http://buff.ly/2rSlxRb

 

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April Real Estate Market In Review

April’s San Diego real estate market in review: As of April 2017, the median detached home in San Diego County sold for $569,000, up 6.4% from the previous year.

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As of  April 2017, the median attached home (including condos, townhomes, and twinhomes) in San Diego County sold for $377,000, up 7.7% from last year.

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The average detached home in San Diego spent 39 days on the market.

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Condos, twinhomes, and townhomes in San Diego spent an average of 32 days on the market.

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As of April 2017, the average seller of a detached home in San Diego County receives 97% of the original list price at the close of the sale.

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As of April 2017, the owners of attached properties (condos, twinhomes, and townhomes) retained 97.9% of the original list price.

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The inventory of homes in San Diego County is still low, which is consistent with what we know that inventory is very tight and not predicted to dramatically improve.

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The supply of attached properties is also quite low.

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Are you interested in seeing this breakdown for your San Diego community or zipcode? Let us know!

House 2 Home Program Success Stories Part 3

We have discovered that the best way to sell a San Diego house quickly and for the best price is to turn it into a home.

We have aligned ourselves with the best in the business to do whatever it takes to prepare a house for sale and turn it into a buyer’s dream home. Whether it’s painting, replacing carpet or flooring, landscaping,cosmetic repairs, or staging, we know what to do to prepare your home to shine.

The House 2 Home Program was created as a way to showcase these seller services. Whether you’re currently still living in a home or are selling a vacant property, we will be happy to discuss our plan to prepare your home for the San Diego Market.

We’ll take you inside a few of the homes that have benefited from our House 2 Home Program. Real sellers, real homes, real measurable results. These are their stories:

 

Greenwillow Lane

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Days on Market With Another Broker BEFORE House 2 Home: N/A

Days on Market AFTER House 2 Home: 6 Days

What We Did: We painted, installed new carpet, did minor repairs, staged the home, and took professional pictures.

From the Sellers of Greenwillow Lane:

“Coastal Premier Properties just sold our house in Carmel Valley. They have an incredible understanding of the local market and advised us on the best time to list. They managed every detail from preparing for sale through closing. Two days after listing we had multiple offers and were negotiating from a position of strength. They were able to get us $80,000 over the last model match sale that had just closed on our street. We highly recommend Coastal Premier Properties for anyone looking to sell or buy a home in San Diego!

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Catalina Blvd

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Days on Market With Another Broker BEFORE House 2 Home: N/A

Days on Market AFTER House 2 Home: 3 Days

What We Did: We de-cluttered, de-cluttered, and de-cluttered some more!  We touched up landscaping with plants and flowers, added fresh dark mulch, upgraded lighting for shine and brightness, and went over the top with staging.  We did some light touch-up paint as well and brought in a great photographer to finish it off!

From the Sellers of Catalina Blvd:

In less than 24 hours on the market, I had multiple low-contingency offers at full-price. A price, I might add, that I was skeptical we would achieve. But it played out beautifully from tasteful staging, targeted pre-marketing, to a packed caravan and well-attended first open house. I could go on and on about Coastal Premier Properties and how they managed my home sale. I had a very strict timeline, a must-hit price and no room to fail. I couldn’t be more thankful for what Coastal Premier Properties made possible for us.

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March Real Estate Market In Review

March’s San Diego real estate market in review: As of March 2017, the median detached home in San Diego County sold for $565,000, up 6.3% from the previous year.

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As of  March 2017, the median attached home (including condos, townhomes, and twinhomes) in San Diego County sold for $375,000, up 7.6% from last year.

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The average detached home in San Diego spent 34 days on the market.

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Condos, twinhomes, and townhomes in San Diego spent an average of 28 days on the market.

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As of March 2017, the average seller of a detached home in San Diego County receives 97% of the original list price at the close of the sale.

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As of March 2017, the owners of attached properties (condos, twinhomes, and townhomes) retained 97.8% of the original list price.

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The inventory of homes in San Diego County is still low, which is consistent with what we know that inventory is very tight and not predicted to dramatically improve.

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The supply of attached properties is also quite low.

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Are you interested in seeing this breakdown for your San Diego community or zipcode? Let us know!

Coastal Premier Properties Celebrates 8 Years!

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Coastal Premier Properties is proud to celebrate its 8th anniversary! In March of 2009, Amy and Susan opened the doors of Coastal Premier Properties to fulfill their dream of being able to hand-select the best agents that share their same values of bringing a personal and collaborative approach to real estate. The company they have built and the people they have hired are the embodiment of that dream. As we celebrate our 8th anniversary this month, we’re proud to report that our company has grown by over 600% in the last three years, while still remaining true to our core values. Co-owner Amy Green remarked, “Our culture is the heart and soul of our company. We’re proud of what we’ve accomplished.”

Today, Coastal Premier Properties has over 140 agents and staff members working all across San Diego County. We have seven offices in North County San Diego, a full-service property management division, and a broker-affiliated escrow company. Coastal Premier Properties is known for our dedication to our clients and our commitment to building a collaborative, forward-thinking brokerage. Co-owner Susan Meyers-Pyke adds, “Amy and I are so appreciative of all of our clients who have supported us over the years and the agents who have come to work with us. We opened Coastal Premier Properties during a tough time in the market so it’s just so cool to see where we are only eight years later!”