San Diego Real Estate - 1031 Exchange Realtor - Your Listing Agent.

Michael Frey San Diego Realtor

(858) 330-1242

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      • Realtor com
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(858) 330-1242

Michael Frey San Diego Realtor
  • Home
  • Property Value
  • Selling Your Property
  • Pinnacle Program Sellers
  • Home Search App
  • Physician Program - Bank
  • Buyers Tips
  • Mortgage Bankers
  • Sell My Home Tips
  • La Jolla CA
  • University City
  • Clairemont 92117
  • Contact Mike ASAP
  • About Me
  • Military Relocation CA
  • New_Homes
  • Downloads PDF's
  • Privacy Policy
  • Open House
    • Open House Questions
    • Home Selling with Pets
    • Dreamers for all CalFHA
    • Home Is To Large
    • Open House Check In
    • Questionnair Page
    • Planning Guide
    • Real Estate Market Timing
    • Cost To Buying a Home
    • Title_Closing_Crypto
    • Moving Tips
    • Realtor com
  • RentOmeter
  • 1031 Exchange Realtor

Michael Frey REaltor® (858) 330-1242

Should you wait for Rates To Fall?

Don’t wait; your problem is High Inflation, not Interest Rates.  Interest Rates go up and down all the time, so refinancing will be an option in the future.  But INFLATION causes your dollars to devalue, causing house prices to rise. It will most likely be more expensive to buy the same home over time. So don’t wait. You will be sorry if you wait. 


(858) 330-1242 - Michael Frey Realtor®



Get a Free Buyers Report for your favorit city... San Diego


Or Sign up for HomeBot's Home Buyer Program. (Its Free) Excellent Content.  

Step by Step - HOME PURCHASE

Steps to purchase a Home in San Diego

Step 1. Contact Michael Frey, Realtor, at 619-997-1626


Step 2. Get Pre-Approved by a Mortgage Banker.


Note: The Order of Priority Sellers use to Pick the Best Offers: (From Best to lease attractive)

A. All Cash, No Contingencies.  

B. Pre-Approval Conventional. No Contingencies 

C. Biggest Lender Name, Biggest Broker Name Pre-Approval, All Normal Contingencies.

D. Contingency, sell my existing house first, then buy with contingencies and loan approvals.   

E. Online Mortgage Companies (Rocket Mortgage, Quicken, etc.) with Loan Contingencies.

F. Pre-Qualified Offers  (Pre-Qualified is a 5 minute check, not good enough) 

G. i-buyers, builders, flippers.


Step 3. Talk to Michael about a Strategy to write your Purchase Agreement Contract.  

Step 4. Look for Houses with Michael Frey, Using his strategy of View Houses. 

Step 5. Write an Offer. Place your earnest Money deposit in Escrow within two days. 

Step 6. Home Inspection, Appraisals. (Decide if you want the house)

Step 7. Sign Disclosures. (You will sign them as they arrive constantly) 

Step 8. Money in Escrow. (Bank funding)

Step 9. Take the Keys. Prepare to move in.   


Review of Steps: I will take care of everything, walk you through the processes, keeping you informed. 


Get in-depth home buying processes and everything you could possibly want on my Berkshire Hathaway HomeServices Website. Click the text.


Call Me: (858) 330-1242 Michael Frey

Step by Step - HOME PURCHASE

The Ultimate Guide to Pre-Qualification vs Pre-Approval Letters: Everything Homebuyers Need to Know

Introduction: Unveiling the Mortgage Mystery

Buying a house is like diving into a sea of paperwork and terminology. In that ocean, two terms often float to the surface: "pre-qualification" and "pre-approval." While they may seem interchangeable, they're not. Each plays a unique role in helping you secure your dream home, and understanding the difference is crucial. So, let's break it down.


Pre-Qualification Demystified: Your First Step in Homebuying

What is Pre-Qualification?

A pre-qualification is the initial step in the mortgage process. It's like dipping your toes in the water before taking the full plunge. Lenders will take a quick glance at your financial background—think income, debt, and credit score—to provide an estimate of how much you might be able to borrow.


Why Do You Need It?

Consider this your reconnaissance mission. A pre-qualification gives you a ballpark idea of your purchasing power, allowing you to look at homes within your price range. It’s a no-strings-attached way to gauge your mortgage options without any commitment.


The Caveat: It's Not a Guarantee

Don't pop the champagne just yet! A pre-qualification isn't a promise from the lender. It's a preliminary assessment based on limited information. It's not until you get pre-approved that you can have more confidence in your mortgage capabilities.


The Pre-Approval Power-Up: A Closer Look

What is Pre-Approval?

A pre-approval is a more definitive step. The lender will review your financial documents in depth—tax returns, bank statements, and more—to give you a more precise loan amount. You'll also learn about the interest rate you can expect.


The Importance of Pre-Approval

A pre-approval letter is your golden ticket in the world of homebuying. Sellers are more likely to take your offer seriously when you're pre-approved. It shows you've got the financial backing and seriousness to make a purchase, making you a more attractive buyer.


How Does It Differ from Pre-Qualification?

The main difference is the depth of the investigation. While pre-qualification is a cursory look at your financial standing, pre-approval is a comprehensive review. The pre-approval letter is also more time-consuming to get, requiring various documents and a more detailed application.


To Pre-Qualify or To Pre-Approve? That's the Question

The Short Answer

Ideally, both. Start with pre-qualification to get a general sense of your mortgage capabilities. Once you're serious about making offers, secure a pre-approval to strengthen your position.


The Strategic Approach

Pre-qualify early in your home search to identify any potential roadblocks. Use this time to improve your financial profile if needed. Then, when you're ready to play hardball, get pre-approved.


Conclusion: Why You Need Both in Your Homebuying Toolkit

Understanding the difference between pre-qualification and pre-approval is more than a matter of semantics—it's a strategy for homebuying success. A pre-qualification letter gives you a starting point, while a pre-approval letter solidifies your credibility as a buyer. In the competitive real estate market, arming yourself with both is the smart move.


So, whether you're a first-time buyer or a seasoned investor, navigating the road to your dream home becomes easier when you understand these mortgage milestones. Happy homebuying!


Call Me: (858) 330-1242 Michael Frey

(858) 330-1242 - Michael Frey Realtor®

Fill out the Questionnaire please, so I may help you.

Strategies To buy a House. First-Time Buyers. VA, FHA & HUD

Mortgage New Daily App

This is the Mortgage app I recommend. It’s free. You can adjust all rates, times, etc. But it also allows you to see the Amortization Tables. (Key to see your Interest vs Principal) Talk to your accountant to see how much of a write-off you may be eligible for.  (Note: you will need to live in the home) 

Special Note, I DO NOT Recommend the Lenders on the App. It would be best if you had an Experienced Local Lender. If you want a strong offer, DON’T use an online lender. I always recommend my seller not to go with an On-line Lender; they may not always close escrow. (Something weird always caused drama with the loan)  


This is the App you saw me use. 

Mortgage News Daily App

VA Home Loan Program

Military Home Loans is my Top Pick for Veterans who use their VA Loan benefit. Did you know San Diego’s benefit is over 977K in La Jolla and University City? Military Home Loans can go up to 3 million. Call them for the details. I am not a Mortgage Broker; they are.  

Call Doug Diemer NMLS#859494 at 858-380-7144 Military Home Loans is my Top Pick for Veterans who with to use there VA Loan benefit. 

VA Home Loans website

FHA or HUD government program

 When the market changed, the advantage went to buyers, AND those buyers who used FHA and HUD loans are having their offers excepted. In the past, it was more difficult. Now is the time to take advantage of these programs. I recommend SUNSTREET Mortgage Kathy Trolinger Loan Officer NMLS#662177 Call her at 619-330-6303.

FHA and HUD website

Construction Loans, ADU's

Construction Loans are added to your purchase amount. Or an ADU? Added to your loan. Almost anything legal you can think of, Angela can figure out. She is your secret to Mortgage Banking. It is worth checking into giving her a call.   Angela Weathers Swanson Lending NMLS#1493846  (858) 688-5259

Construction of ADU etc.

On-Line Bankers (Quicken, loan Monster) or Credit unions

*Warning*

Again, Do NOT use an online banker system. Yes, the rates are lower, but San Diego has some “quirky CCR’s” and incredibly strict contract deadlines. 


Online brokers may be difficult to reach at the most important time of the contract. A failed contract could cost you your deposit/earnest money. (And that is 100% on you) Please, use a local lender. Somebody who you can see or give a handshake. You can always refinance later, sometimes with no points down.  (Protect your deposit, stay local) 


Credit unions are great for Refinancing but can be slow and troublesome on the first mortgage home purchases. (Don’t do it)  

Tricks to Lower Your Total Home Purchase Cost

It's Simple and very effective.

  • Shorter Loan Period.  (15 vs 30)
  • Extra Monthly Payment. (Add a few bucks to each payment)
  • Pay Bi-Weekly
  • One-Time additional payment to principal.
  • Add your Tax Return as a Yearly Principal Payment.

Basic Real Estate Contract info: Inspections

Buyers need to understand the the Inspections Processes.

  

The inspection contingency deadline comes up fast.

If unchanged, the default in the California Real Estate contract (RPA) is 17 days after the agreement has been ratified. (Signing Date)

  

You, the buyer, have a right to control property inspections.

The buyer oversees any inspections conducted on the property and has a right to speak with the inspector and ask any questions they may have during the inspection. If a seller has made it difficult to schedule an inspection of the home or is personally interfering in the inspection, the buyer may have a right to an extension of time to conduct these inspections.

  

Requests for repair must be submitted before the inspection deadline.

The 17-day deadline to make any requests for repairs comes up fast. Nevertheless, this is the date by which you must make your requests to repair items on the property you’re seeking to purchase.

  

The seller may NOT honor your request. (They don’t have to do anything)

If you request a repair, the seller has the right to ignore, deny, or agree to the request or attempt to negotiate a compromise.

  

You have to take action by the inspection deadline.

As a buyer, you must either rescind any requests and contingencies on the sale, request additional time to complete more inspections or repairs, or cancel the transaction if requests for repair are ignored or denied.

  

You may be able to Retain your Earnest Money Deposit (EDM) if you cancel the Sale within the contract (RPA) parameters.

If the seller refuses your requests for repairs, you are likely entitled to a refund of your earnest money on deposit. Even if you cancel the sale after an unsuccessful negotiation of the repairs you requested, rather than an outright refusal to make repairs, a real estate lawyer can assist youin getting back the deposit funds you’ve provided to the buyer so far.

  

Repairs must be completed before Closing.

If you and the seller do agree that certain repairs, be made to the property, these repairs must be completed by five days before the scheduled close of escrow.

If you need skilled and knowledgeable legal counsel for a real estate transaction or disputed sale in Southern California, contact the San Diego real estate litigation attorney Jon Alan Enochs for a consultation at 619-421-3956. (Referred from SDAR)



Sign up for HomeBot's Buyer Search Program for Free. Its Very good. 

Advanced Tip Buyers strategy

PRO NOTE: Statement of Identity, is it filled out?

Ask your agent to verify that the Seller has completed their Statement of Identity. This is where the "Skeletons come out of the closet." You don’t want to invest Time and Money to have the Escrow fail due to some unseen Liability pop-up. They may owe more than the home’s value, which means that they may have no money left over to sue for. (I always do this for my clients)

Cartoon of a man who is without money. Broke

My National Berkshire Hathaway HomeServices website.

Click Here
In-Depth Team of Inspectors
I Highly Recommend Gary & Dave Gramling, very knowledgeable

In-Depth Inspector - Home Inspections

 Home Inspectors

Gary & Dave Gramling

1041 Market St, #218 

San Diego, California, 92101  

760-455-4978  - 

(Highly Recommended by Mike)

 indepthinspections@cox.net

Click here for there website


Additional Home Inspection Resources and Contractor Resources. Click Here  

BPG HOme Inspections - REBA affilliate

BPG Home Inspections

BPG Home Inspections.

Jeff Stemmerman Professional home inspector. 

760-613-9398 direct. 800-285-3001 office


An additioal Souorce, I have met Jeff. Good guy.

Contract Tips (Residenta Purchase Agreement - ("RPA")

Residential Home Buyers Contract (RPA) Home Insurance

Contract details

Your Mortgage Company Requires 

As soon as possible, get a quote for “Homeowners” or Fire Insurance the first few days after accepting the offer. Most new homeowners wait; it’s a mistake.  

Insurance and Services

Farmers Insurance Logo

Pete Williams Agency Ower

Pete Williams Insurance Agency, inc.

1020 Prospect St. CU-2, La Jolla, CA 92037


858-587-2116 Office# 760-809-3171 Cell

License # CA Producer LIC OG51406

pwilliams4@farmersagent.com 


Call Pete for Home Insurance, he is easy to work with and understands the Real Estate Community. Highly Recommended.


Click here for his web page.

HomeServices Insurance Agency Logo

HomeServices Insurance Agency "HSI"

Javier Reyes Lic#0163335

5973 Avenida Encinas Suite 110

Carlsbad, CA 92008


(760) 203-6836 Office

License # CA Producer LIC 0163335

javier.reyes@homeservices-ins.com


Call Javier for Home Insurance.

NOTE: HomeServices is an Affiliate of Berkshire Hathaway HomeSerivces. Michael Frey Recives Zero Compensation for the refural. 


Click here for his web page.

UC Pest Control Truck

UC Pest Control

Termite Inspections? Call Mike Lawson at 858-352-6603

I highly recommend UC Pest Control for Termite Inspections, Fumigation, and any or all pest control needs. Mike is very knowledgeable and a genuinely good guy.  

 3268 Governor Dr #392 San Diego, CA 92122  

Monday - Friday: 8AM–5:00PM 

Click here for his website.

Cleanology logo

Housekeeping Service for San Diego

 Since 2003, Cleanology® has referred professional independent housekeepers to residences all over San Diego County. 


Call (619) 281-2532  Click here for website.

Anderson Appraisal Service
I have no connection with this home appraiser.

Home Appraisal

 Anderson Appraisal Services, Inc.
2180 Garnet Avenue #3A
San Diego CA 9210 

858-276-0022     Info@andersonappraisal.com 

Click here for website

The solar Detective - Solar Inspections - 858-519-8415

Have them inspected before you sign off on your contingencies. (I will remind you.)

Have them inspected before you sign off on your contingencies. (I will remind you.)

Have them inspected before you sign off on your contingencies. (I will remind you.)

Solar panels on roof example

Residential Solar Inspections©


Some buyers assume a home inspection covers the solar system, but home inspectors will not perform a Residential Solar Inspection©.  Home inspectors do not offer to perform Residential Solar Inspections© because they do not have the required expertise to evaluate a solar system. 

If you have put in an offer to buy a house with solar, it is important that not only should you have a home inspection, but also that you have a Residential Solar Inspection© performed by The Solar Detective. 858-519-8415 call them

Have Solar Detective check it out first. (Before you buy)

Have them inspected before you sign off on your contingencies. (I will remind you.)

Have them inspected before you sign off on your contingencies. (I will remind you.)

Damage Solar Panels on Roof example

Realtors or home inspectors do not evaluate this. Solar Inspector will.


Solar panels (like them or not) are part of the home buying processes in San Diego, CA. It is essential to know before you enter any obligations or RLA-RPA contracts. Whether the homeowner purchases the system outright; in that case, you need to know about the system's maintenance, capacity, and longevity. If leased, you will need to get approved by the leasing company, and you will want to know about easements, if any, to access the panels. Call me if you have questions, or better yet call The Solar Detective directly at 858-519-8415 

City of San Diego Short Term Vacation Rentals rules

Short Term Vacation (Beach) Rentals (30 day or less)

Short-Term Residential Occupancy program from the city of San Diego.

San Diego Short-Term Residental Occupancy Program

Click on the picuture for the Video.

Second Video

 

  

 San Diego.Gov website. Details Short Term (under 30 days) Rental Rules and Permits for your property.

San Diego.Gov/STRO

(858) 330-1242 - Michael Frey Realtor®

Fill out the Questionnaire please, so I may help you.

short Term Rentals: Nice Neighbors.Org

Map to Short Term Rentals

Map of Short Term Rentals

Curious where all the SHORT-Term rentals are located? The “Nice Neighbor” organization is a group of San Diego stakeholders trying to identify the Bad Actors: Party Houses, Nose, unlicensed or neighborhood disruptors. You can also add to their list if you know of other bad actors In Shor Term Rentals.  (Take the information for what it is) 

Supplemental Tax, what is this?

  

This is oven overlooked by other Real Estate Agents; it’s a nasty little surprise 6-12 months after you purchase a home in San Diego County. Supplemental tax is the difference between the newly assessed sold property amount and the old property value that the original owner paid tax on. The difference is divided by the remaining day of the tax collection year fiscal year. (June 30th) that sum is multiplied by the tax rate. (1 t0 1.2%) The video explains this in good detail. 

Click Here 

Contact Info

Contact Info

Phone # Email or "WhatsApp" & "Facebook"

Feel Free to Try Facebook Messenger URL:   m.me/MichaelFreyRealtor

Message me on WhatsApp

Michael Frey Realtor® La Jolla. CA

1299 Prospect Street, La Jolla, California 92037, United States

(858) 330-1242 MichaelFrey@bhhscal.com Facebook Messenger URL m.me/MichaelFreyRealtor

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The owner of the Website is: Michael Frey Realtor® DRE#02069869 

Call (858) 330-1242 or (619) 997-1626  (Licensed in California)


Berkshire Hathaway HomeServices California Properties La Jolla, CA DRE#01317331 All Rights Reserved. Copyright © 2023 Equal Housing Opportunity. michaelfrey@bhhscal.com 

  

©2023 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information..


© 2023 Berkshire Hathaway HomeServices California Properties is a member of the franchise system of BHH Affiliates LLC. BHHS and the BHHS symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate.


Buyer is advised to independently verify the accuracy of that information. "Good to Know" 

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