Looking for something fun to do for Labor Day weekend in San Diego? You've come to the right place! According to the Automobile Club of Southern California, San Diego ranks as the No. 2 destination, behind Las Vegas, for southern California travelers who are getting away for the holiday weekend.

Although weekend travel is not expected to match travel levels from years past due to economic conditions, it's still important to allow plenty of travel time to and from your destination. Please also remember that law enforcement will be at a heightened level and DUI check points will in effect. There are so many fun things to do in San Diego this weekend and we have listed a few of our favorites courtesy of SDNN and SD Entertainer. Have fun and be safe!

Here are some fun activities and events to do with friends and family.

San Diego Chargers vs. San Francisco 49ers: Friday's 7:05 p.m. kickoff with the San Diego Chargers and the San Francisco 49ers won't be televised locally, courtesy of the NFL's blackout policy. The league's long-standing policy requires all games not sold out 72 hours prior to kickoff be blacked out in the local television market.　 The good news: the game isn't sold out. In fact, there are approximately 7,000 tickets available for Friday's game. 　Ticket prices range from $54-$98, and can be purchased online at Chargers.com, Ticketmaster.com, or at the stadium at Gate C. Qualcomm Stadium is located at 9449 Friars Rd.

Stickball West Coast Invitational Tournament: New York City's popular urban pastime has a loyal local following and Labor Day Weekend Little Italy's streets will be overrun with stickball players. Teams from New York, New Jersey, Florida and Puerto Rico will travel to San Diego for the Friday-Saturday-Sunday tournament to go head to head with local teams. Stickball is spectator friendly - but be alert. Buildings, curbs, parking meters, signs and balconies are all playable in fair territory. According to the Little Italy Association's Web site, Bronx rules apply: no gloves allowed, the batter pitches to himself, and he gets one swing of the stick to hit the rubber ball. The tournament is free for spectators, and runs from 8 a.m. to 6 p.m., Saturday, Sunday and Monday, located on Columbia Street between Beech and Cedar streets; and State Street between Ash and Beech streets.

The Princess Bride at Cinema Under the Stars: The classic fairy tale adventure tells the story of a fated young couple (a son-to-be princess and her childhood love) who battle incredible odds (and larger-than-life rodents) to be with one another. The family-friendly film shows at Tops Presents Cinema Under the Stars Thursday, Sept. 3, Friday, Sept. 4, Saturday, Sept. 5 and Sunday, Sept. 6. Doors open at 6:00 p.m., film begins at 8:30 p.m. Tickets are $13.50 per person. Cinema Under the Stars is located at 4040 Goldfinch St.

Fortune Labor Day Pool Party: Siren's Pool and Uber Lounge at the luxurious Se Hotel will host Fortune's Labor Day Pool Party Sunday from noon to 9 p.m. Lavelle Dupree, G*Roy, Theron, DeVoy, J-Sin, Yusef, Scott Saunders, the Get Down Society and - newcomer on the Vegas & L.A. scene - DJ Travis Emmons will showcase sets. Advance tickets ($10) are available; for VIP bottle service or cabana reservations, call or text 619-515-3045. Se and Siren are located at 1047 5th Ave.

Pacific Classic Day and Reggae Fest featuring Ziggy Marley: Sunday, the Del Mar Racetrack hosts the season's richest, most prestigious race: the $1 million Pacific Classic. The country's top horses in the 19th will be running; the first race begins at 1 p.m. At 6:45, when the 11-race card wraps up, Ziggy Marley will headline a Reggae Festival on the Infield Stage. Ziggy's opening act is the funky Nikka Costa. The concert is free with a $6 racetrack general admission ticket. Gates open at 10:30 a.m., and the first race is at 1 p.m. The Del Mar Racetrack is located at 2260 Jimmy Durante Blvd.

Labor Day Grape Stomp: 　Relive Lucille Ball's classic grape-stomping antics in Old Town on Monday from noon to 6 p.m. Hosted by Hacienda de las Rosas Winery, the annual barefoot grape stomp includes a wine tasting, food and live music by a country rock band. The winery will haul a 120-year-old California Redwood wine tank to Old Town's Fiesta de Reyes Plaza, and bring individual tanks too, for wine stomping competitions every half hour. Tickets for the Labor Day Grape Stomp are still available; adult tickets are $25, and tickets for children (14 and under)are $10. At 12:30, the winery will have its harvest blessed before the fun kicks off. For tickets call 619-840-5557. Fiesta de Reyes is located in Old Town San Diego State Historic Park near the corners of Taylor and Juan streets in Old Town.

Beat the heat: Soak in the sun at a San Diego beach or better yet, The Lafayette's pool in North Park, or let the cool air conditioning of a local movie theater wash over you. The hoppin' North Park escape charges non-hotel guests $5 for pool admission, and poolside cocktail servers run booze and food all day. The Lafayette's pool - open to non-guests after noon - is the best way to relax, without the hassle of finding beach parking (and, there's no booze ban in North Park!). The Lafayette Hotel & Suites is located at 2223 El Cajon Blvd. A dip in the pool - or the Pacific - is a great way to beat the heat. So is catching a movie. David Elliott, SDNN's resident movie buff, has the scoop on the weekend's new releases.

Seaworld: This is especially enticing for families, with extended hours everyday of the weekend. Also, don't forget to bring a blanket to get cozy for the fireworks shows. Saturday & Sunday shows @ 9:50pm & Monday show @ 8:50pm

Escape to Catalina: Sail to the Catalina islands for the weekend. This is a rare opportunity for passionate adventurists as well as sailing lovers. Visit http://www.sdmaritime.org/ for more info.

Outlet Shopping: If shopping is more of your thing, head over to the premium outlets in Carlsbad and Las Americas. The already discounted prices will sink to new lows during their annual Labor Day sales.

Visit the Bay: Visit the San Diego Bay for a variety of cruise offers over the weekend. On the BBQ cruise the amazing views of the San Diego Bay are accompanied by an exquisite dining experience. There are also sunset dinner cruises available nightly. We recommend the iconic Hornblower if you decide to venture to the bay for a cruise this holiday.

Music: If you're looking for audio entertainment, head over to Humphrey's on September 6th for a full day of good music. The fun goes all the way through till 1 a.m. Stay tuned for more music updates from The Entertainer as the weekend approaches. :

These events suggestions are courtesy of the San Diego New Network and San Diego Entertainer. For more information on these labor activities check out the following links.

Read more: http://www.sdnn.com/sandiego/2009-09-03/8-great/eight-great-san-diego-ways-to-celebrate-labor-day#ixzz0yONhs3o3

Read more: http://www.sdnn.com/sandiego/2009-09-03/8-great/eight-great-san-diego-ways-to-celebrate-labor-day#ixzz0yONZk9YG

More Events: http://www.sdentertainer.com/lifestyle/labor-day-weekend-in-san-diego/

Please remember us for all your real estate needs this weekend. We also appreciate your referrals. For more information on buying or selling a home, contact us today!

 

The latest housing data from June is out and it's not looking very rosy. The First Time Homebuyer Tax Credit was a significant factor in the boost in consumer activity in the first quarter, but it seems that these sales created an atypical spring and summer market.

A similar parallel to what occurred in the first quarter of the housing market is the "Cash for Clunkers" program. Both the First Time Homebuyer Tax Credit and the "Cash for Clunkers" program created a type of false market, where a lot of inventory was sold in a short period of time rather than over the course of a "normal" market period. This real estate market has been anything but typical, so this is just one observation for decline in sales.

Consumer confidence is also lacking and can be attributed to the decline in new home sales. Although interest rates remain at historic lows, consumers are being extremely cautious towards spending as they try to secure current and prospective job opportunities. On the other hand, consumers who are in more secure financial situations are realizing that it could take a while for the real estate market to turn around and they are taking this time to refinance their homes.

We are also hearing that more foreclosures are in the pipeline and are expected to surface this coming fall. As you can see, there are many moving parts to this real estate market along with different levels of impact. The upcoming November elections could also impact consumer confidence as we see changes in leadership and pending legislation takes effect. It remains to be seen what we can expect next, but we will keep you posted from the real estate trenches. Please stay tuned to Lake Hodges to Lake Poway Real Estate for more details to come.

In case you missed it, below is Monday's article from the Union Tribune. For more information on buying or selling a home contact us today!

Local new homes sales fall, prices rise

By Jennifer Davies UNION-TRIBUNE

Monday, August 23, 2010 at 2:08 p.m.

New-home activity in San Diego County remains sluggish.

New home sales in San Diego County fell 26 percent in June from a year ago while the median price increased 4.5 percent to $499,000, says a new report from the California Building Industry Association.

On a statewide level, the monthly survey conducted by the CBIA along with Hanley Wood Market Intelligence found that new home closings were off some 36 percent from a year ago while the median price rose around 3 percent to $375,000. On a monthly basis, new home sales in the San Diego region only dipped by 1.8 percent while the median price increased 7.5 percent. Statewide sales increased 2.7 percent from May and the median price was up 4 percent.

In June 215 new home sales closed in the San Diego region, with 152 of those being of single-family variety and 58 being condos. Two townhomes and three duplexes also sold in June.

The sluggish pace of new home sales was hardly unexpected, said Liz Snow, CEO of CBIA.

"Until consumers become more confident in their job security and job prospects, we don't anticipate they'll be rushing out to buy a new home," she said.

Despite its declines, the San Diego region also performed better than many of its large metro counterparts. The Los Angeles area saw new home sales drop more than 57 percent in June from the previous year. In the Riverside region, new home closings were down 37 percent while the Santa Ana metro area fell almost 35 percent.

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.

Friday, June 18, 2010 marks the 27th Annual Community Service Day for Windermere Real Estate. "Each year we close our offices for the day and all agents, owners, and staff go out and give back to our community. This year, our offices will be hosting an outdoor Community Service Fair at The Church at Rancho Bernardo to coincide with Windermere's national efforts", announced Mark Loscher, CEO of Windermere Exclusive Properties.

"I am proud of our agents and staff for their efforts supporting residents in need. As Windermere Real Estate continues to grow, we believe that we are 'Doing Well by Doing Good'" said Steve Rodgers, President of Windermere Exclusive Properties. "We have over 400 agents in our offices. If each agent donates a full day's work, then Windermere Real Estate will donate well over 3,000 hours of community service to deserving organizations."

Linda Schechner, Community Service Chair for Windermere San Diego, has been leading their planning for the past seven years. "The goal of Community Service Day is to provide support for those in need. This year's Fair will support The Red Cross blood bank; San Diego Blood Bank Bone Marrow Donor Registration; Packaging 20,000 Meals for Friends & Family Community Connection and the global effort fighting hunger; Leez PJ's 4 Kids; Rady Children's Hospital; Child ID Services; Food Drives for Interfaith Services in Escondido and the Community Resource Center in Encinitas; E-World electronic recycling and Shred-it; Helen Woodward Animal Center; Fabulous Bake Sale, DJ and more. We look forward to a huge turnout."

Each Windermere office will be collecting kids pajamas, coloring books and crayons, children's books, and non-perishable items such as tuna, canned fruit, canned vegetables, canned chili, canned pasta meals, spaghetti sauce, dried pasta, macaroni & cheese and baby diapers sized at 3, 4 and 5.

Drop Off Donations

Is there anything you could donate to these local charities?

We are collecting donations for several outstanding San Diego charities.

You can help by dropping off donations at the Community Service Day Fair on June 18th or by bringing your donations to any one of our eight Windermere offices.

Donate to Leez PJ's 4 Kids

-　 Kids Pajamas
-　 Comfortable Sweats
-　 Bedtime T-shirts

Donate to Rady Children's Hospital

-　 Crayons
-　 Coloring Books
-　 Children's Books
-　 Markers and Art Supplies

Donate to local community resource centers

-　 Ramen Noodles / Cup of Soups
-　 Rice (1 lb or 2 lb bags)
-　 Peanut Butter
-　 Jellies and Jams (plastic jars only)
-　 Canned Spaghetti Sauce
-　 Dried Pasta
-　 Macaroni & Cheese
-　 Cereals
-　 Sliced Bread
-　 Instant potatoes
-　 Canned Fruit
-　 Canned Vegetables
-　 Canned Corn
-　 Canned Chili and Meats
-　 Canned Pasta Meals
-　 Canned Tuna
-　 Apple Juice
-　 Grape Juice
-　 Diapers Size 3,4,5
-　 Baby Food

Donate to the HWAC program Animeals

-　 Canned Pet Food
-　 Whiskas, Friskies & Pedigree Food

Recycle your Electronic Waste with E-World Recyclers*

-　 Computer Monitors
-　 Televisions and LCD Monitors
-　 DVD and VCR Players
-　 Cell Phones
-　 Radios / Stereos
-　 Printers
-　 Fax Machines & Copiers
-　 Microwaves
-　 Computer Towers & Accessories

Let Shred-It get rid of your old Confidential Information**

-　 Contracts
-　 Video Tapes
-　 Hard Drives
-　 Computer Back Up Tapes
-　 X-Rays
-　 CDs or DVDs
-　 Classified Information

For more information visit: www.CSDFair.com.

If you are unable to drop off donations prior to community service day, contact us directly and we will personal come pick-up your donations. Thank you for giving back to your neighbors and the community!

In case you missed it, here is an interesting article from the San Diego Union Tribune that is worth a read.

Many sellers are wondering if this is a good time to put their home on the market as we approach the beginning of summer and with interest rates at all time lows. It's definitely a good time to sell, because buyers are still out there searching for just the right home! The amount of inventory on the market has been absorbed due to the recent tax credit, so when a nice property comes on the market it tends to move quickly when properly priced. Days on market time has also shrunk, which is good incentive for sellers to come on the market now.

It's true that buyers are taking their time in looking for "the home", but once they do they are prepared to close quickly. There is still a good size pool of buyers who have done their research and renting until they find a home to purchase.

Check out the article below and feel free to contact us for more information on what's happening in your neighborhood. We would love to meet with you to discuss how we can market your home to sell.

Should San Diegans buy, refinance or wait?

By Roger Showley, UNION-TRIBUNE STAFF WRITER

Thursday, May 27, 2010 at 6:17 p.m./photos/2010/may/28/170013/

With mortgage rates again nearing their 50-year low, would-be San Diego County buyers and homeowners have to make a choice:

Buy or refinance now and lock in the rate;

Wait and hope rates sink even lower, as some economists are predicting;

Or watch rates rise to as much as 5.5 percent, as other economists predict, and make up the difference by an expected 5 percent dip in home prices.

The issue arose Thursday, as Freddie Mac's weekly Primary Mortgage Market Survey showed the average rate for a 30-year, fixed-rate loan at 4.78 percent, down from 4.84 percent last week and the lowest since the 50-year low of 4.71 percent in December. Rates and fees vary by region and lender.

"Strike now," said Gary McBride, Bankrate's senior analyst. "If they move quickly against you, it just takes money right out of your pocket."

San Diego mortgage broker Ed Smith, president of the California Mortgage Brokers Association, said refinancing now makes sense for owners whose loan-to-value (LTV) ratio is no more than 80 percent, for example a loan of no more than $250,000 on a home valued at $312,500.

"I will strongly encourage them to move forward if they could, " he said.

If the LTV is between 80 percent and 125 percent, various government and lender programs offer some refinancing options.

If the LTV is greater than 125 percent, "they're definitely in a pickle," Smith said.

"For those individuals who don't have an option to do a refi, I would encourage them to look at some of the government (loan modification) programs," he said.

For buyers, the decision to act comes down to where you are in the purchase pipeline. If you're still looking for a low-cost short-sale (properties sold for less than the mortgage balance), it doesn't pay to lock in the low rate for the maximum 55 days, because it can take months to seal the deal, Smith said.

"I wouldn't hedge that bet," he said.

The price to lock in a rate can add as much as a quarter-percentage point to the loan rate and sometimes an additional fee if escrow takes longer to close.

But for buyers of newly built homes and nondistressed properties, he said, locking in the rate is a good strategy if escrow can close quickly.

Lorie Staehling, manager of the new Windermere Properties office in downtown San Diego, said she is concerned that holders of adjustable-rate mortgages will refinance with new ARMs rather than fixed-rate loans.

"Yes, the payments are higher for fixed rates than ARMs," she said. "But what will they do when the rates are up five points? They're now at the bottom. People sometimes are very short-term sighted."

She said many homeowners and buyers don't realize that rates exceeded 10 percent in the 1980s.

For the moment, Staehling said, the low rates mean more affordability and will offset the end of the federal homebuyer tax credits. A $100 million state credit program took effect May 1, but nearly 40 percent of the money had been reserved as of Thursday, the Franchise Tax Board said.

One of her clients, first-time buyer Manuel Muñoz, 40, locked in a rate at 4.875 percent for a $350,000 four-plex in southeastern San Diego, due to close escrow next week. He said he thought of asking for a discount, but is happy with the terms.

"I thought that this was the best time to buy," he said.

Frank Nothaft, Freddie Mac's vice president and chief economist, said his long-term forecast calls for rates to rise as high as 5.5 percent in the second half of the year. External factors, such as the current euro and Greek crisis in Europe, are keeping rates low, but they are unpredictable, he said.

"We're talking about a very modest uptick, starting in the third quarter of the year," Nothaft said.

His advice on whether consumers should wait or act: "That's really an individual choice. There's that old expression - a bird in a hand is worth two in the bush. You don't know what will happen tomorrow."

Source: San Diego Union Tribune

http://www.signonsandiego.com/news/2010/may/27/mortgage-rates-and-choice/