La Jolla Homes for sale & La Jolla Real Estate

Pacific Beach is a neighborhood of San Diego, bounded by La Jolla to the north, Mission Beach and Mission Bay to the south, Interstate 5 to the east and the Pacific Ocean to the west.^[1] While largely populated by young people, surfers, and college students, the population is becoming older, more professional, and more affluent due to rising property and rental costs. "P.B.," as it is known as by local residents, is home to one of San Diego's larger nightlife scenes, with dozens of bars, eateries, and clothing stores.-

The beach

A golden beach in Pacific Beach stretches for miles from the Mission Bay jetty to the cliffs of La Jolla. A sidewalk, the boardwalk, running along the beach, is typically crowded with pedestrians, cyclists, rollerbladers, and shoppers. The beach scene revolves around Crystal Pier, which is at the west end of Garnet Avenue.

 Streets

The streets in Pacific Beach were renamed several times before receiving their current designations in 1900.^[2] The primary north-south street running parallel to the beach is Mission Boulevard, with the streets named after late 19th century federal officials, then incrementing in alphabetical order as they move further from the coast. Bayard, Cass, Dawes, Everts, Fanuel, Gresham, Haines, Ingraham, Jewell, Kendall, Lamont, Morrell, Noyes, Olney, Pendelton. Mission Boulevard was formerly Allison Street, being the "A" street of the series.

 History

Pacific Beach was developed during the boom years of 1886-1888 by D. C. Reed, A. G. Gassen, Charles W. Pauley, R. A. Thomas, and O. S. Hubbell. It was Hubbell who "cleared away the grainfields, pitched a tent, mapped out the lots, hired an auctioneer and started to work".^[3] To attract people, they built a Race Track and a San Diego College of Letters, neither of which survive today. A railway also connected Pacific Beach with downtown San Diego, and was later extended to La Jolla.

Education

Pacific Beach public schools are part of the San Diego Unified School District. They include Mission Bay Senior High School, Pacific Beach Middle School, and several elementary schools.

Parks

In addition to bordering the Pacific Ocean and Mission Bay Park, Pacific Beach includes Kate Sessions Park and the Pacific Beach Recreation Center.

Organizations

The nonprofit Pacific Beach Town Council promotes the area and organizes community events.^[4] The Pacific Beach Planning Group advises the city on land use and other issues.^[5] Service clubs include Kiwanis, Rotary, Lions Club and Toastmasters.

Bars and nightlife

Pacific Beach is one of the main centers of nightlife in San Diego. Garnet Ave between Ingraham St and Mission Blvd is where many bars and restaurants are located. The nightlife in Pacific Beach caters towards a younger crowd than the nightlife in downtown San Diego.

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If your income slumped along with the economy, you've got plenty of company these days. So much so that the government has a program meant to help you out by cutting your mortgage payments to 31 percent of your gross income. But it turns out that qualifying for this benefit will probably take some fancy footwork, a sympathetic partner and a little luck. Here are some pointers for navigating the terrain.

Get to know the program
The program in question is the Obama administration's $75 billion Making Home Affordable program.

It applies to mortgages held by Fannie Mae and Freddie Mac, the two giant mortgage holders that the government took control of a year ago. Under the government's auspices, Fannie and Freddie are now cutting interest rates on mortgages they own to as little as 2 percent, with the aim of lowing payments to no more than 31 percent of a homeowner's gross income.

How do you know if Fannie or Freddie own your mortgage? The simplest way is to visit each of the lender's Web sites and type in the information requested about you and your residence. Remember: The giant home financing organizations buy loans that were originated by commercial banks and own a significant portion the nation's entire home loan assets. That means you may have taken out your mortgage through Bank of America, Wells Fargo or another private lender, and they may still be servicing your account, while ownership has actually been transferred to Fannie or Freddie (if not, you're out of luck).

If you do have a Fannie or Freddie loan, then figure out what portion of your gross monthly income your housing payment consumes. In this case, your "housing payment" means not only your mortgage costs but your PITI (principal, interest, taxes and insurance). Since you first took out your mortgage, it may have zoomed way up as a percentage of your household income, either because you and your spouse's income has fallen or because the adjustable rate of interest on the loan has ratcheted up. In either case, you should consider applying.

Navigating the process
Even when Fannie and Freddie own loans, they don't handle homeowner paperwork themselves. Instead, they rely on banks to service their loans and to decide who qualifies for the Making Home Affordable program. The banks have been both stingy about granting approvals and overwhelmed by the sheer volume of applications.

The key to receiving a modification seems to be convincing the bank that you're in its modification "sweet spot." That means you're in dire enough financial straits to need help but not so deeply in trouble as to be hopeless. After all, the point of the program is to modify loans in a way that borrowers will be able to keep up.

Disqualifiers
What might disqualify you? Savings, for one thing. We spoke with nearly a dozen homeowners who applied for modifications. Several were turned down because of their hefty savings accounts.

On the other hand, if you have no savings and no job or income, you'll likely be turned down for a modification too. The program requires that applicants show proof of current income and that the income is likely to continue for at least nine months. Since in most cases unemployment benefits are part of a six-month program, they're unlikely to qualify you.

Other variables that can influence the odds of getting approved include your other debts (credit cards and car loans) and fixed costs. Once again, banks are looking for modifications that borrowers can live with. If you're seeking to have your housing payment cut to 31 percent of your income but are spending another 60 percent on private school tuition and health club memberships, the bank is unlikely to be convinced that you're a viable candidate.

Showing just enough distress
It isn't pretty, but to go to the top of the list in your bank's loan modification department, it might help to miss a mortgage payment or two. "It feels terrible to say it, but go delinquent," says Ron Morgan, chief executive of Sterling Home Retention Services. Morgan's firm specializes in home-loan workouts, and many banks are outsourcing their problem loans to firms like his.

If you need help with the application process, it's probably available. The U.S. Department of Housing and Urban Development has a network of debt counselors, many available to work with you free of charge.

Tools on the Internet may also help you improve your chances at getting a modification. The owner of Homeowner's Toolbox is a former California mortgage broker who says he has consulted with the banks he used to source loans for and has a sense of each bank's modification "sweet spot." Homeowner's Toolbox is free to users and claims to estimate the probability that a homeowner will be approved for a modification.

The last thing you want to do is make your financial problems worse. That means avoiding any for-profit outfit that "promises" to get you a modification or that insists on a large payment upfront.

Catch homes at their prime price Middleton and Associates will gladly help you through the process, click here or Call Pete at 858-922-3377

Home prices rose for the third month in a row in July, new data Tuesday showed, more proof a fragile housing recover is underway.

The Standard & Poor's/Case-Shiller home price index of 20 major cities rose 1.2 percent from June to a reading of 143.05. Though home prices are still 13.3 percent below July a year ago, the annual declines have slowed in all 20 cities for the sixth straight month.

"We expected another gain but this is remarkable," wrote Ian Shepherdson, chief U.S. Economist for High-Frequency Economics. He noted the index has risen at an 8 percent annualized rate in the three months to July, the best performance since early 2006 and the first increase on this basis since mid-2006.

However, the index is down about 33 percent from the peak in mid-2006. Home prices are now at levels not seen since the third quarter of 2003. And prices in Las Vegas, Detroit and Seattle are still falling.

Prices in Las Vegas, one of the most speculative markets during the boom, are down more almost 55 percent from their peak. In August, almost 80 percent of home resales in Nevada were either a foreclosure or a sale below the value of the mortgage, according to a survey by the National Association of Realtors.

The Detroit housing market is reeling from layoffs in the automotive industry. Seattle, by contrast, was one of the last areas to enter the downturn so prices there have yet to hit bottom.

And there are still several risks to the national recovery, including rising unemployment and foreclosures and the expiration of a tax credit for first-time homebuyers.

First-time homeowners can qualify for a tax credit worth 10 percent of the purchase price, up to $8,000, but it expires at the end of November. More than a dozen bills to extend the credit have been introduced in Congress, but it's unclear if lawmakers want to continue subsidizing the real estate market.

Real estate agents and homebuilders are lobbying hard for an extension. They point to continued areas of weakness, such as foreclosures. On Tuesday, Fannie Mae said that nearly 4.2 percent of its home loans were at least three months delinquent in July, up from 3.9 percent in June.

Foreclosures now are being driven by job losses, which are also weighing on the minds of consumers. The Conference Board said Tuesday that its Consumer Confidence Index dipped unexpectedly this month to 53.1 after three months of gains, down from the revised 54.5 reading in August.

Nevertheless, there are clear positive trends in the housing markets. Home prices rose in 13 metro areas for at least three straight months. The biggest gains in July were in Minneapolis, San Francisco and Chicago.

The Case-Shiller indexes measure home price increases and decreases relative to prices in January 2000. The base reading is 100; so a reading of 150 would mean that home prices increased 50 percent since the beginning of the index.

Home sales are also rebounding from their January lows. Sales of newly built homes are up 30 percent from the bottom, but are off about 70 percent from the peak of four years ago. Sales of previously owned homes are nearly 14 percent higher, but are still down nearly 30 percent from their peak.

Looking for Bank Owned? Tons of listings . Call Pete for more listings and info 858-922-3377

Click Link below to view bank owned homes in the San Diego Area.

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Why are Bank Owned Properties Special?

Bank owned real estate is unlike and other kind of property. Most homes these days are sold through the open market by brokers and agents. Banks are generally not in the business of home sales. This ends up being of great advantage to the potential buyer. Since the bank only needs to collect a portion of the property's full value in order to settle the debt amount, it's often possible to find great bank foreclosures for way below market prices. And since the banks often scramble to get rid of these bank owned properties, you can often find even bigger discounts.