Archive for November 21, 2013

Santee Housing Market Overview with Suzanne Coleman and Rob McNelis

Santee Housing Market Update

Click above to watch the video!

With historically low mortgage rates and some great pricing and increased availability in the city of Santee, Rob McNelis and Suzanne Coleman discuss the state of the housing market.

There are currently 58 detached homes available for sale in Santee.  They range in price from $299,000 to $759,000.  This represents both an increase in available inventory and pricing, or, each good points for buyers as well as sellers.  The average price of an available home is $467,000 which averages out to a price per square foot of $275.  The average time on the market has increased from the all time lows of earlier this year to about 35 days and currently there is about 2 months of inventory (available homes) on the market.

31 attached homes are up for sale in Santee as of today with a price range of $180,000 all the way up to $452,000.  The low end make great homes for first time buyers and in a trend  seen nationally, some move up buyers with young families are choosing attached homes.   The higher end attached homes in Santee allow both empty nesters and young families to choose from many of the outdoor  recreation amenities Santee has to offer, while not having the responsibility and burden of a yard to maintain.

In closing with historically great interest rates and increased inventory, it’s a great time to buy despite the social business of the holiday season.  Pre-qualify today with Rob and find a perfect home in Santee with Suzanne tomorrow!  Close before the end of the year and enjoy your tax break!

Canton Hills by KB Homes

New Homes for Sale

New Homes for Sale

Canton Hills by KB Homes is the latest community being developed near Santee, CA.  Located on the border of Santee and Lakeside, Canton Hills offers much needed move up housing.  

Floor plans start at over 2,800 and go up to more than 3,400, and pricing starts at $559,000.  The community boasts 67 new homes with incredibly low HOA’s of just $49 per month and no Mello Roos.  KB Homes, in my opinion made a brilliant decision to focus on the homes and including as much as possible, with upgrades available, while relying on the already developed amenities that Santee has to offer in order to keep HOA’s far less than other similar new home communities.

These gorgeous new homes near Santee offer many features included in the price.  The new homes will be solar powered, have his and her closets in the master bedrooms, very spacious floor plans, some built to order options, stainless appliances and granite counters and the homes are ENERGY STAR® certified.

There is a VIP event coming Thursday the 21st of November.  Ask me how you can get invited!

Suzanne Coleman


Why I Love Santee

If you live in Santee, whether you own or rent a home, you know why the people here in Santee love it.   To give a brief history, I have lived here since 1995.  That was prior to many of the improvements we currently enjoy in Santee.  Now when I was a kid, the only reason to travel from San Carlos to Santee was for one of two things; to go to the dump or Costco, Price Club back then.   We seriously never went to Santee for any other reason.  My Grandparents briefly moved to Santee in about 1973 because the 52 freeway was going to connect everything.  They soon realized that would not happen for many more years and moved back to San Carlos, where I grew up. 

Fast forward to 2003.  I had been living in Santee for about 8 years.  I landed this great job with a new homes sales and marketing company and soon realized my passion was real estate.  That’s another story.  The Ryness Company was located in Del Mar, CA and most everyone that worked there was from the northern portion of the county in San Diego.  People would ask where I lived and I would proudly tell them Santee, only to be met with looks of thinly veiled disapproval.  I was quick to defend my Santee, but rarely convinced anyone of the advantages of living in Santee.  Sometimes I even felt bad telling people where I lived, despite knowing it was such a great city!

Fast forward to present day.   Off the top of my head, here are the reasons I love Santee:

Home prices are better, you get more for your money!  The average price per square foot in Santee was 42% lower than other areas in the county in September of this year.

The schools are fantastic.  The website gives schools in Santee an 8 to 9 out of a possible 10 rating.

Shopping is amazing.  With the exception of a major department store such as Macy’s or Nordstrom’s, Santee boasts a Kohl’s, Bed Bath and Beyond, Sprouts, 2 major grocery stores, Barnes and Nobel, Petsmart, PetCo, Tilly’s, Party City, Home Depot and Lowes, BevMo, Target, 2 Walgreen’s, Pier One, and hundreds more.

Lots of places to eat and more coming!   From Chili’s to Phil’s and Buffalo Wild Wings to Wings and Things!  We even have a Jersey Mike’s Subs and a Dudley’s Bakery.    Sushi, Pho, Mexican, Thai, Italian, Barbeque, basically you name it, it’s probably here!

Traffic has improved dramatically with the addition of the 52/67 and 125 extensions.

Move up housing is coming soon with the ongoing development of Canton Hills by KB Homes and Castlerock by Pardee.  More condos and newer apartments are on the planning table as well.

Santee has many amazing dog and kid friendly parks, a country club with a golf course, a Sportplex, a newer Boys and Girls Club, robust AYSO, softball, little league and Pop Warner sports programs and a newer YMCA.

Finally, I have it on good authority that a new attraction is coming to Santee that will bring jobs and income to the city.   More about that in a  future blog, but it’s going to be AMAZING.

To reach me, call 619-206-2784, comment on the blog or email me at

Five Things to Know Before you Short Sell

Thinking of short selling your home in Santee?  Although short sales have decreased dramatically, they are still a viable option for some homeowners.   First, what is a short sale?  A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property.  In a nutshell, if you owe more on your Santee home than it is worth; have experienced a hardship which impedes your ability to make your mortgage payment; and you want to avoid foreclosure, a short sale may be a good option for you.

Homes for sale in Santee, CA tend to sell quickly these days.  Inventory is very low and demand is very high.  So the opportunity is now.  Currently the shortage is technically considered income, however Federal guidelines allow for this “income” to be forgiven in 2013.  This could change for 2014.

Know your options

Although short selling your home in Santee may be the best option, it is wise to contact your lender and explore potential relief programs  they may offer.  Some banks offer deeds in lieu of foreclosure, loan modifications (some permanent, others temporary) an opportunity to refinance, and others.  It’s worth your time to look into in order to avoid a foreclosure.

Get a real estate agent who has successfully closed short sales

Find a Santee real estate agent who has successfully closed more than a few short sales.  Each situation is different, so your agent should be seasoned.  Each mortgage lender has a different process and system they utilize.  Your Realtor should also assist you in exploring the options mentioned above with your lender if you have not done so.   Realtors like listings, but prefer to have lifetime buyers and sellers because we help choose the best option for you.   If you decide to short sell, your agent will assist you to complete an authorization for them to speak on your behalf to the bank, and further interaction should be handled by the agent in most cases.  Your Realtor handles negotiations with the bank and should be in very regular communication with you.

Get your tax person involved

Bottom line, laws change.  More importantly, no matter how great your Santee Realtor may be, trust me, they do not know the tax laws like your good old tax preparer.  If you do your own taxes, it is worth a visit with a CPA to discuss any potential penalties or consequences of your course of action.

Know that it will be anything but short in most cases

More often than not short sales take an eternity to close.    “Short” refers to the proceeds falling short of paying off the debt and has nothing to do with the time is takes to get a short sale finished.  That said, some banks are well equipped to handle short sales, others woefully slow and unprepared.  This is another reason to have a short sale experienced real estate agent who will take charge and be proactive.

You can buy again

Although short selling your home certainly wasn’t what you envisioned when you bought, understand that the opportunity to buy can happen again.   Banks are currently offering programs for individuals who had to short sell or who have a bankruptcy or foreclosure in their credit history.   There are qualifications and time frames, and these change frequently.  The Realtor that helps you short sell your Santee home, should be able to connect you with lenders who specialize in buying again.

Homes for Sale in Santee, CA

Homes for sale in Santee, CA continue to be tough to come by, as inventory remains low at just 47 available single family detached (SFD) and 35 available attached (A) homes.   The average number of homes sold and closed per month in 2013 is 58.7.   Currently Santee has 82 homes for sale (47 SFD and 35 A).   This means, on average Santee has about 1.39 months of inventory currently available.

However, the below chart, which shows homes closed in Santee by month for 2013, indicates a dramatic slowdown in September and October, with just 38 homes closing each month, down from a high of 85 in August.

Sold Homes in Santee, CA in 2013 by Month.  Includes attached and detached homes.

Sold Homes in Santee, CA in 2013 by Month. Includes attached and detached homes.

To qualify this number a bit, it is very normal for the later months of the year to slow down some.  People like to buy earlier in the year and many prefer to close before the kids head back to school.  Once the holiday season begins, it is very normal for the market to slow a bit.  I would expect that prices will stay relatively flat if not decrease just slightly towards the end of the year.  Then depending on available homes for sale in Santee, CA in the new year, we’ll know more about which direction prices will go.

If you would like to know these stats for your zip code, simply comment below and I will be happy to gather that data.   I’m also pleased to offer no obligation home valuations.  Please contact me if this is of interest to you.

Suzanne Coleman

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