Brand new single level custom residence under construction in the desirable neighborhood of Montelena. Spectacular finish work will include slab granite kitchen counters, alder wood cabinetry, stainless steel appliances, crown molding, travertine flooring, master bath jetted tub and separate shower, travertine baths, 9-12' ceilings, vinyl clad dual pane windows & doors, 2 fireplaces and panoramic mountain views on a cul-de-sac. The estimated completion date is September 2010. Offered at $895,000.

Stay tuned for more details coming soon! For more information contact Barbara & Ashley Stuart.

The month of May has already come and gone. Now the summer real estate market is here. Or is it? Typically, spring and summer are peak seasons for real estate sales, as consumers are focused on purchasing a home prior to the start of the new school year. That being said, this market has been anything but typical.

It appears the recent homebuyer tax credit, combined with low mortgage rates and increased consumer confidence spurred more pending sales in February, March and April then initially expected. The spring market came early this year and the first quarter was bustling with activity, but there has no doubt been a decrease in momentum. Much of this can be attributed to the expiration of the homebuyer tax credit, combined with soaring unemployment rates and the question of whether we can expect an increase in interest rates or inflation.

There has been growing debate among Federal Reserve Members on raising the Fed Fund Rate and what this will potentially mean for home loans. The Fed Fund Rate is a base rate that banks charge each other, which other banks and lending institutions will base their rates on for business and consumer loans. If the rate is increased, so will the cost of borrowing and purchasing a loan. Increasing the Fed Fund Rate tends to slow economic activity, where lowering interest rates tends to spur activity in the market place and create a ripple effect into other sectors of the economy.

According to one of our trusted mortgage advisors, "The Fed Fund Rate is currently at a range of 0.0-0.25%, and it has been this low for over a year to help stimulate our economy and move us from recession to recovery." (The Mortgage Planners Update) The present concern is that if the Fed Fund Rate increases, we could be faced with a decrease in economic activity and a possible "double dip" recession. On the other hand, if the Fed waits too long to increase rates then inflation could be the result, which can negatively impact the bond markets and home loans. There are many moving parts for the Fed to consider in the upcoming months such as unemployment, mounting US debt, and shaking markets in Europe. Interestingly enough, bonds and home loan rates have benefited slightly from the situation in Europe, as global investors are finding more security in US Bonds.

According to the Associated Press, "Stocks climbed this past Wednesday after Federal Reserve Chairman Ben Bernanke said debt problems in Europe might only amount to a "modest" drag on the U.S. economy if the financial markets can halt their slide. Bernanke's comments came in testimony to the House Budget Committee. He said the economy is still recovering but that jobs and housing are likely to remain weak." (Stephen Bernardo, Associated Press). Bernanke stated , "the Unemployment Rate is likely to remain high for a while and the Fed can't wait until unemployment is where we'd like it to be before tightening credit, or inflation could too easily get out of control".

It appears we still have a long road ahead towards reaching economic recovery and the debate will continue to unfold as the Fed is scheduled to meet this upcoming week. Stay tuned to our blog www.LakeHodgestoLakePowayHomes.com for further updates on this topic. In the meantime, please keep us in mind for all your real estate needs and referrals.

This beautiful Mediterranean style residence is located in the Vineyard Estates, which is a community of newer Mediterranean style homes in the Lake Hodges Area. Complete with upgrades and a gorgeous tropical pool & spa, this home is located on a corner lot of .34 acres with beautiful golf course views of 17th hole and stunning westerly sunsets.

The oversized double door entry with clerestory windows opens to the two story foyer with tile flooring with the look of stone set on the diagonal. The dramatic curving staircase & rich custom paint complements the dark hardwood floors of the formal living room and dining room with French doors to the pool and patio.

The central island eat-in kitchen has slab granite countertops, oak cabinetry, tile flooring, Bosch 5 burner gas cook-top & dishwasher, double ovens, and a sunny breakfast nook. The adjacent family room has a brick faced fireplace, upgraded carpeting and a sliding door to the pool & patio.　 A granite topped hallway wet bar with glass front cabinetry is across the hall from a downstairs bedroom with double door entry and full bath. The laundry room with sink and storage cabinets is nearby.

The double door master suite with vaulted ceilings has a marble faced see-thru fireplace to the retreat & a sliding door to private balcony with pool and golf course views. The spacious master bath has dual sinks, beveled framed mirrors, oval tub, separate shower & dual walk-in closets with mirrored doors.

Bedrooms 3 & 4 share a full bath with dual sinks, tub-shower and tile flooring. Bedroom 5 has French doors to huge balcony and access to finished storage attic.

Additional features include wood blinds, upgraded neutral carpeting, custom paint, interesting architectural details, lighted ceiling fans, spot lighting, and security system including screens. The exterior amenities include the fully fenced tropical pool & spa with flagstone coping, color coated concrete patios, built-in BBQ, lawn area, colorful landscaping, outdoor lighting, and 3-car garage.

Conveniently close to Westfield Mall, I-15,South Escondido Schools, California Center for the Arts, The San Diego Wild Animal Park, and The Vineyard Golf Course & Hodges Driving Range, this property is a must see!

This stunning Vineyard Estates home is offered at $739,000, so contact us today for a private showing.

This beautifully updated Queensgate residence has a commanding presence and is situated on over 1/2 acre of park-like grounds with pleasant mountain views. Amenities include upgrades such as slab granite countertops, tile flooring with the look of stone, plantation shutters & wood blinds, 3 fireplaces, master retreat, 1st floor bedroom & bath, gorgeous pool & spa, multiple patios and lush mature landscaping.

Queensgate is a quiet gated community situated in the hills above Lake Hodges. The location is conveniently close to Westfield Mall, I-15, Bernardo Elementary School, Bear Valley Middle School, San Pasqual High School, the San Diego Wild Animal park, California Center for the Arts, The Vineyard Golf Course & Hodges Driving Range.

The double door entry with clerestory windows above opens to the formal entry with soaring two story ceilings. Tile flooring with the look of stone with stone inlays creates a beautiful medallion. The formal living room has a two story ceiling, clerestory wood windows & a marble faced fireplace. The formal dining room has a coved ceiling, a marble topped buffet and French doors to a patio.

The central island kitchen has slab granite countertops with a tumbled marble back splash, white cabinetry, gas cook top, oven, microwave, dishwasher, pantry cabinet & large breakfast nook. The family room has a stone faced fireplace & French doors to the patio & pool. An elegant powder room with a pedestal sink is nearby.

Double doors open to the first floor bedroom with its own updated bath including a granite countertop. This spacious room makes a wonderful office or guest retreat. The separate laundry room has a sink & storage cabinets.

A dramatic curving staircase leads to the upper level master suite with a see through fireplace to the retreat, French doors to a private view balcony, dual sinks with a vanity, slab granite countertops, separate shower, large jetted tub & spacious walk-in closet with mirrored doors. Bedroom 3 has its own bath and bedrooms 4 & 5 share a full bath in between.

Additional amenities include plantation shutters & wood blinds, neutral carpeting, tile flooring, spot lighting, rounded corners, art niches, many newer fixtures & faucets, zoned heating & A/C systems, security system, custom paint, 3 car garage, covered veranda & multiple patios, beautiful pool & spa, lush mature landscaping and mountain views.　This home is perfect for entertaining or for raising a family.

Offered at $895,000, this property is a must see! Contact us today for a private showing of this stunning Queensgate home.

Located at the top of Gated Montclair in the Lake Hodges area, this popular single level Jasmine model has beautiful panoramic views. Additional home features include vaulted ceilings, wood casement windows in front, tile flooring, art niches, clerestory windows, eat-in kitchen, fireplaces in 3 rooms and colorful manicured grounds.

Montclair is a gated community of newer Mediterranean style homes in the Lake Hodges Area. The location is quiet and peaceful yet conveniently close to Westfield Mall, I-15, Bernardo Elementary School, Bear Valley Middle School, San Pasqual High School, the Vineyard Golf Course & Hodges Driving Range, California Center for the Arts, the San Diego Wild Animal Park and Lake Hodges.

The oversized entry door with side lights opens to the foyer with tile flooring with the look of stone set on the diagonal, extending to the hallways and kitchen. The formal dining room has a coved ceiling and is opposite the formal living room with a marble faced fireplace and arched mirror above, a wet bar, large sliding glass doors and clerestory windows.

The central island kitchen has a breakfast area, double ovens and cook top plus microwave, trash compactor, dishwasher and lots of cabinetry with some glass fronts. The adjacent family room has a brick faced fireplace with a wet bar that both see through from the living room plus an entertainment niche. An elegant powder room for guests is nearby.

Double doors open to the master suite with a sitting area, marble faced fireplace, walk-in closet, dual sinks, vanity, separate shower and oval tub. Sliding glass doors open to the patio and stunning view. Two secondary bedrooms share a bath and the fourth bedroom has its own bath.

Additional amenities include wood casement windows in front, vaulted & high ceilings, art niches, interesting architectural details, dual pane windows, rounded corners, music intercom, security system, air conditioning, mirrored closet doors, lighted ceiling fans, central vacuum & laundry room with a sink. Exterior features include a 3 car garage + openers, trellis covered patio, rain, gutters, gorgeous colorful mature landscaping including Seco palms and Bird of Paradise, spacious lawn, wrought iron fencing & panoramic views of Bernardo Mountain & beyond.

Offer at $699,000-This is a property you don't want to miss! Contact us today for a private tour!