Author Archives: John A Silva

About John A Silva

As your professional real estate adviser, I focus on client satisfaction. My business is about service and I am not happy until you are happy. My years in the business have provided me the experience to assist you with nearly every real estate need. Whether it's finding you a home, finding the best loan, or helping you getting the most out of selling your home I am here to guide you. If there is anything you need, please let me know via email at johnasilva@sbcglobal.net.

Money Monday: Homeownership rates affected by student debts

Student debts have seemed to affect homeownership rates, according to the Federal Reserve Bank of New York.

student loan debt

About 32% of those in their 20s owned a home in 2007, but that’s fallen drastically to 21% in 2016.

While the poor labor market and memories of the housing bubble certainly played a role, student debt can explain up to 35% of the decline, according to a report from the Federal Reserve Bank of New York released Thursday.

The results suggest that the rise in college costs will result in “weaker spending and wealth accumulation among young consumers in the years to come.”

It’s consistent with surveys that have asked those with student debt if it affected their decision to buy a home. Half of those under the age of 35 surveyed by the National Association of Realtors in 2016 said it had delayed their purchase. And 25% told Pew Research Center that student loans had made it harder to buy a home in 2011.

Read more of CNN’s article here: “Yes, student debt is delaying homeownership.”

San Diego County Events for July 21 – 23

Are you missing out on ComicCon this year? Never fear; there are so many other great events and happenings going on in San Diego and San Diego County this weekend!

San Diego county events this weekendLa Mesa Movie in the Park

La Mesa is showing the “Jungle Book” at tonight’s Movie in the Park — it’s a free, fun way to spend time as a family and with your neighbors! Arrive early to get a spot; showtime starts at 8pm.

When: F
Where: La Mesita Park | 8855 Dallas Street, La Mesa, CA
Cost: Free
More information: www.cityoflamesa.com/409/Events-Activities


Sundays at Six Summer Concert Series

This last performance of La Mesa’s Sundays at Six Summer Concert Series, Sonic Epidemic will be entertaining us with horn tunes of the 70s. If you haven’t made it to the concert series, yet, this is your last chance!

When: Sunday, July 23| 6 – 7pm
Where: Harry Griffen Park | 9550 Milden St, La Mesa, CA
Cost: Free
More information: www.cityoflamesa.com/409/Events-Activities


Summer Movies in the Park

Summer Movies in the Park is a series of free outdoor movie screenings in community parks and recreation centers throughout San Diego.

Movies begin at dusk, which is about 15 minutes after sunset. People are encouraged to come early for picnics and activities.

This (July 21 & 22) Friday & Saturday’s free movies (find locations via the schedule link) include:

  • Secret Life of Pets
  • Moana
  • The Sandlot
  • Zootopia
  • The Jungle Book
  • Grease

When: Ongoing from now until October 28, 2017
Where: Parks and recreation centers throughout San Diego County
Cost: Free
More information: Summer Movies in the Park; schedule here


San Diego Smooth Jazz Festival

The San Diego Smooth Jazz Festival returns to San Diego after a 12-year hiatus! This three-day event, open to the public on Saturday and Sunday, combines smooth jazz, delicious local eats, and the beautiful San Diego skyline.

When: Open to the public Saturday and Sunday, July 22 & 23
Where: North Embarcadero Marina Park | 400 Kettner Blvd, San Diego, CA 92101
Cost: $65+
More information: sandiegosmoothjazzfestival.com


‘Much Ado About Nothing’ At Coronado Playhouse

Coronado Playhouse stages Shakespeare’s “Much Ado About Nothing,” directed by Kit Fugrad. This production is part of the theater’s 21st Annual Free Classic Play. Admission is free, but donations are accepted.

When: Ongoing from now until August 13, 2017
Where: Coronado Playhouse | 1835 Strand Way, Coronado, CA
Cost: Free; donations accepted
More information: coronadoplayhouse.com


Sunset Artwalk

Start your summer weekends off right at the winery! Join us every Friday night during the summer for art, wine, music, food and shopping in the Winery Village from 4-9pm. Meet local artists and enjoy their work in the courtyard along with live music, food vendors and of course, tasting room, shops and café open late! Free admission. Families welcome, please no pets. Music tonight: Kevin Begin 5:30-8:30pm

When: Friday, July 21 and summer Friday nights | 4-9pm
Where: Bernard Winery | 13330 Paseo Del Verano Norte, San Diego, CA 92128
Cost: Free
More information: bernardowinery.com/calendar-of-events/sunset-artwalk-every-friday-night-june-september


If these aren’t enough events, check out my list of the top 20 must-do activities to do in San Diego here!

Sellers’ Market Challenges

Money Monday: Money terms and what they mean

It’s easy to be confused by all the different finance and money terms out there. Here are a few terms common to real estate:

Escrow

Escrow is a safe, intermediary account for money when it’s moving between a buyer and seller. Placing funds there tells the seller: “I’m serious about this deal and I can pay.” During the time the down-payment is in escrow, a homebuyer can take care of due diligence, including a home inspection. If it turns out something is off about the house — like structural damage — the buyer can pull out.

You can also escrow money (yes, it’s a noun or verb) for fees beyond your mortgage, like property tax and mortgage and homeowners insurance. Federal Housing Administration-insured mortgages, for example, require escrow accounts. (“Money terms you’re too embarrassed to ask about.” 

APR

Even if you already know that APR means “annual percentage rate,” you might not understand what it is. Lenders are required to disclose the APR when lending, which is great for transparency…

The APR is the rate charged annually for borrowing money. But unlike an interest rate, it includes fees and other costs the transaction may include. So the APR is usually higher than the nominal interest rate. Also, unlike annual percentage yield (APY), the APR doesn’t take into account compounding interest. (“Money terms you’re too embarrassed to ask about.” 

Read up on more financial and money terms here, on Money.CNN.com: “Money terms you’re too embarrassed to ask about.”

San Diego County Events for July 14 – 16

Free San Diego events this weekend! There’s much to do in San Diego County, including family-friendly fun — just check out the free activities below!

San Diego county events this weekendStagecoach Days: Women of the West

Women played an important part in the development of the West. The contribution of women on the settlement of the West will be shown through activities and demonstrations, such as cooking, typesetting, basket making, and spinning. One of the highlights of the day will be the annual Quilt Walk throughout the park.

When: Saturday, July 15 | 12-4pm
Where: Old Town San Diego State Historic Park | 4002 Wallace St, San Diego, CA 92110
Cost: Free
More information: Stagecoach Days: Women of the West


Summer Movies in the Park

Summer Movies in the Park is a series of free outdoor movie screenings in community parks and recreation centers throughout San Diego.

Movies begin at dusk, which is about 15 minutes after sunset. People are encouraged to come early for picnics and activities.

This (July 14 & 15) Friday & Saturday’s free movies (find locations via the schedule link) include:

  • Moana
  • Trolls
  • Lilo & Stitch
  • Zootopia

When: Ongoing from now until October 28, 2017
Where: Parks and recreation centers throughout San Diego County
Cost: Free
More information: Summer Movies in the Park; schedule here


Day of Play

Join Olivewood Gardens and Learning Center for some free family-friendly fun! Enjoy hands-on cooking, gardening, crafts, nutrition, games and physical activities in a beautiful outdoor garden setting. The Day of Play promotes healthy living and environmental responsibility. Families with children of all ages are welcome to attend.

You’ll need to register in advance; space is limited.

When: Saturday, July 15 | 10am
Where: Olivewood Gardens and Learning Center | 2525 N Avenue, National City, CA 91950
Cost: Free
More information: Olivewood Gardens and Learning Center


64th Annual Over-The-Line

Games start at 7:30 a.m. promptly and continue until dark on both weekends of Over-The-Line.

Over-The-Line is a public event and requires no ticket or entrance fee to watch the games and enjoy the tournament.

When: Multiple dates from July 8 – 16
Where: Fiesta Island, Mission Bay Park | Fiesta Island Rd., San Diego, CA 92101
Cost: Free – $150
More information: For adults 18+ | www.ombac.org/over-the-line/otl-rules-of-the-game


Mission Hills Concerts in the Park: The Highwayman

The Mission Hills Concerts in the Park is an annual event that occurs on Fridays in Pioneer Park. Bring your picnic baskets and catch up with neighbors and friends while you sing and dance to the music.

The Highwayman is an immensely gifted vocalist who channels the spirits and voices of the original Highwaymen in a breathtaking two hour performance. Prepare to be amazed how one man can emulate all four of Outlaw Country’s favorite musical icons.

When: Friday, July 14 | 6pm
Where: Mission Hills Pioneer Park | 1521 Washington Pl., San Diego, CA 92103
Cost: Free
More information: Mission Hills Concerts in the Park


Summer Sundays

Come out and enjoy your summer evening with music from Lady J and Soulful knights at this family-friendly event. Catch a different beat and cruise a different car club every week. Then enjoy food & product samples from our merchants and fun activities for the kids including free crafts, balloon sculptures and face painting. Bring your friends and visit our photo booth complete with fun props and receive free photo strips of your experience.

When: Sunday, July 16 | 5pm
Where: Village Walk at Eastlake in Chula Vista | 878 Eastlake Pkwy; Chula Vista, California 91914
Cost: Free
More information: shopvillagewalk.com/special-events


If these aren’t enough events, check out my list of the top 20 must-do activities to do in San Diego here!

Homebuyers Move Quickly for Inventory

Falling inventory forces homebuyers to move at fastest pace ever

Source: Housing Wire

housing market forecastHousing inventory fell 8.9 percent from last year in the second quarter of 2017, sending homebuyers scurrying to beat the rising competition.

Housing inventory dropped for nine consecutive quarters, and is currently down a full 20 percent from inventory levels five years ago, a new report from Trulia shows.

And now, homebuyers are snatching up homes at the fastest pace since Trulia began tracking in 2012. While 57 percent of homes were still on the market after two months in 2012, today that number shrank down to 47 percent.

Competition is so fierce, in fact, that 33 percent of Americans who bought a home in the last year made an offer without even seeing the home in person, according to a survey from Redfin, an online real estate brokerage.

This is up from 19 percent of buyers who placed an offer on a home without seeing it first last year. Among millennials, even more placed offers without seeing the home in person — a full 41 percent.

Read the full story

Money Monday: Renters can buy

Even in California, buying can be more affordable than renting.

Renters That Can Buy

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

San Diego County Events for July 7 – 9

This weekend, come down to San Diego County and enjoy some great events.

San Diego county events this weekendFirst Friday Oceanside Art Walk

Downtown Oceanside hosts its “First Friday Art Walk,” featuring local artists, music and dancing. This time, the theme is “Stars & Arts,” a patriotic nod to America. The event is free and, as the name suggests, takes place every first Friday of the month.

When: Friday, July 7 (and every first Friday of the month) | 5 – 9pm
Where: Downtown Oceanside
Cost: Free
More information: www.oceansideartwalk.org


64th Annual Over-The-Line

Games start at 7:30 a.m. promptly and continue until dark on both weekends of Over-The-Line.

Over-The-Line is a public event and requires no ticket or entrance fee to watch the games and enjoy the tournament.

When: Multiple dates from July 8 – 16
Where: Fiesta Island, Mission Bay Park | Fiesta Island Rd., San Diego, CA 92101
Cost: Free – $150
More information: For adults 18+ | www.ombac.org/over-the-line/otl-rules-of-the-game


TGIF Concerts in the Park

Tonight enjoy Carlsbad’s popular TGIF Concerts in the Parks series. For over 30 years, the City of Carlsbad has presented live music throughout the city. This year, nine concerts will be presented in four beautiful parks in Carlsbad.

With a variety of food vendors for all your picnic needs, hands-on art activities for all ages, green grass for hanging out with friends and family, top quality live music and a dance floor to boogie the night away, TGIF has everything you need for a great night out in Carlsbad.

When: Friday, July 7 | 5pm
Where: Poinsettia Community Park, 6600 Hidden Valley Rd., Carlsbad, CA
Cost: Free
More information: www.carlsbadca.gov/services/depts/arts/events/tgif


Summer Movies in the Park

Summer Movies in the Park is a series of free outdoor movie screenings in community parks and recreation centers throughout San Diego.

Movies begin at dusk, which is about 15 minutes after sunset. People are encouraged to come early for picnics and activities.

This (July 7 & 8) Friday & Saturday’s free movies (find locations via the schedule link) include:

  • Sing
  • Trolls
  • The Sandlot
  • The LEGO Batman Movie
  • The Jungle Book

When: Ongoing from now until October 28, 2017
Where: Parks and recreation centers throughout San Diego County
Cost: Free
More information: Summer Movies in the Park; schedule here


Friday Night Liberty

The Arts District (2640 Historic Decatur Rd.) at Liberty Station hosts its monthly art walk, “Friday Night Liberty,” a free event showcasing the working artists of this up-and-coming hub. The event also features live entertainment, including dance, theatre and music.

When: Friday, July 7 | 5 – 9pm
Where: Arts District at Liberty Station | 2825 Dewey Rd, San Diego, CA 92106
Cost: Free
More information: libertystation.com/events/friday-night-liberty-july-2017


Little Italy Summer Film Festival

Every Saturday night this summer, stop by San Diego’s Little Italy Amici Park and enjoy a series of Italian films with English subtitles. The screenings start at 8 p.m. The entry fee is a $5 donation

When: Saturday, July 8 | 8pm
Where: Little Italy Amici Park | 1660 Union St, San Diego, CA 92101
Cost: $5
More information: www.littleitalysd.com/events/little-italy-summer-film-festival


La Mesa Boulevard Stroll – Luau

Come for a FREE and FUN evening next Tuesday July 11th in La Mesa Village! The festivities begin at 5:00, so bring the family and tell all your friends! We have a variety of LIVE MUSIC, DANCE, ART and all the restaurants and shops will be open! It’s a Luau theme so bring your Aloha Spirit and support your community.

 

When: Tuesday, July 11 | 5pm
Where: La Mesa Village
Cost: Free
More information: www.facebook.com/boulevardstroll

And if these aren’t enough events, check out my list of the top 20 must-do activities to do in San Diego here!