La Jolla Homes for sale & La Jolla Real Estate

Many of La Jolla homebuyers who are touting walkability as an important asset also may be looking for amenities for the four-legged friend who will be joining them on those walks through their new neighborhood.

And these days, that likely means they're looking for more than just a fenced-in yard for Fido to run around in.

Justin Brennan, with Middleton and Associates, says he has found that touting perks for a homebuyer's pooch -- from pet-friendly landscaping and luxurious doghouses to neighborhood amenities such as dog parks and dog day care centers -- could land sellers a higher price for their La Jolla home.  "Pets have become important members of the family, and their needs are often high on the list of must-haves for many buyers, sometimes even higher than priorities of the two-legged members of the family," he says. "Calling out features or local pet-friendly amenities can make or break a buyer's interest in a particular property."

Some homeowners are even taking their pets' perks to the extreme, with custom-built doghouses such as the Victorian-style copy of the property's main house at this home for sale for $10.99 million in Thousand Oaks, Calif.

Other pet perks include deluxe dog runs, custom dog doors and even private patios with personal fire hydrants.

Selling points can differ for dog-loving buyers looking at properties in the city, though, where local parks and walking paths often have to substitute for a yard. Nearby pet fashion stores, pet groomers and other related businesses may also be priorities for these La Jolla buyers.

What kind of pet-friendly perks would you look for in a La Jolla home?

La Jolla home owners sell and move, on average, every five to seven years. Why do home owners move? People who have lived in the same home for the past 30 years have a hard time understanding this phenomena. They are shocked that people move so often, but I know one thing for certain: Their day to sell and move will come as well.

Here are the top 15 reasons why people sell and move from their La Jolla home:

1) Home is too small. First-time La Jolla home buyers often outgrow their "starter" homes. Increased family size is the main reason home owners say they need a larger home.

2) Upgrade. The grass is greener on the other side. People often want what they don't have and long for a bigger, more expensive and grander, upscale La Jolla home. It's the American way.

3) Fix purchase error. Owners might believe they made a mistake when purchasing their present home and want to rectify that mistake. Maybe they thought they could get by without a back yard but yearn to garden, or the dining room in the center of the house annoys them, or they no longer enjoy the underbelly of planes flying overhead within inches of their face.

4) Job transfer. Relocation makes it necessary for many to pull up roots and move. If the commuting distance exceeds an hour, most people would prefer not to spend two hours in traffic every day.

5) Personal Relationships. Moving in with a partner or getting married can mean one of the parties will need to sell, especially if both owned La Jolla homes prior to the commitment. On the other hand, break-ups cause owners to sell as well for three basic reasons:

1 One party may need to buy out the other and not have the cash available.

2 The home may not be affordable to sustain on one person's income.

3 The home holds bad memories, making a fresh start desirable.

6) Neighborhood changes. The neighborhood might have changed for the worse, economically, socially or physically. For example, maybe a freeway was constructed nearby. Maybe the next-door neighbors receive visitors who arrive wearing striped pajamas at 2 AM. Or they have hung sheets over their windows while a skunk-like odor permeates the air.

7) Empty nest. The kids have grown up and moved out. The owners want a smaller home. The older you get, the harder it is to keep a big house clean.

8) See family more often. Some people want to be closer to their family as they age and will move to be near relatives. Parents want to be near children. Grandparents, near their children and grandchildren.

9) See family less often. To put more distance between the La Jolla home owners and relatives. Some might move out of state to keep harmony within the family. Dysfunctional and fractured families have been known to blossom being separated.

10) Retirement. Active-adult communities are attracting many buyers over the age of 55. These planned communities have golf courses, club houses, workout facilities, week-end social gatherings, back-yard barbecue parties and more, all designed for people over 55.

11) Health problems. Physical ailments such as knee or back problems make it difficult for an aging population to climb stairs in a two-story, so a one-story home may be more practical. A trade-off solution for many elderly people who don't require round-the-clock care is to buy a condo or move into assisted living housing.

12) Deferred maintenance. Some people don't want to put on a new roof, replace the siding or buy a new furnace, so it's easier to buy a newer La Jolla home. When you figure the life of most home systems is about 15 years, it could make sense to get out before everything goes haywire.

13) Home improvement perfection. A small segment enjoys fixing up and selling, spending time, money and effort on remodeling, and once the work is completed, these people become restless because there is nothing left to do. Some of you may call these people obsessed, but for some, it's a way to maintain balance while mastering a hobby.

14) Cash in equity. Some La Jolla home owners can't stand the fact their home is worth all that money because that money is not in their pocket. These people would prefer to stare at their passbook savings than stare at four walls with empty pockets. They. Just. Want. The. Money.

15) Lifestyle change. Others are simply tired of owning a home and would prefer to travel, pursue a hobby or be less responsible. We used to call these people misfits or boomers, but many past a certain age want to find a calling that is meaningful to them. So, for these people, home ownership loses its priority status and turns into the ticket for realizing dreams.

If you're looking for a La Jolla home, you may be considering new homes, short sales and foreclosures. The best deals will depend on your local market - and how much patience you have.

The U.S. housing market is flooded with foreclosures, short sales and home builders willing to make a deal. If you're in the market to buy a home today, you're likely weighing the benefits of each type of property available for purchase. But don't be fooled. Not all bank-owned foreclosures are sold at deep discounts. Not all builders are cutting prices. Short sales can be a risky and uncertain venture, with some buyers enduring months of waiting and still not getting the property.

All things considered, it's possible that your best deal is purchasing a traditionally sold existing La Jolla home, so don't count those out just yet.

To get the most for your money, it's important to understand the local market's inventory; market dynamics will have a lot to do with how various types of homes are priced. Also, do some soul-searching to determine how much risk you're willing to take and the amount of time and money you're willing to invest in a La Jolla home.

You won't be alone: "Buyers are more educated these days. They're coming to us with a good idea of what they're looking for," said Peter Middleton, Broker/Founder, of Middleton and Associates.  At the very least, go in knowing what you can afford and in what neighborhood you'd like to live, said Justin DeCesare, director of operations/real-estate advisor at Middleton and Associates. Since most properties find their way to local multiple listing services, buyers also can decide what type of home they'll buy after finding one that fits their needs, he said.

Bank-owned properties
Foreclosures reclaimed by the bank, often called bank-owned properties, are often sold at a discount. However, the size of the discount depends on the market you're in.

A recent report from Zillow.com found that the typical discount for bank-owned properties, compared with a traditionally sold home, averaged 20% to 30%. According to separate data from RealtyTrac, an online marketplace of foreclosure properties, the average discount on bank-owned properties was 34% in the first quarter.

There is more than one reason why the selling price of a foreclosure is lower than a traditional La Jolla home.

"The seller is typically a bank, and would like to move the property off the books as quickly as possible. A traditional seller is interested in getting a certain price and is willing to stay in the market," said Stan Humphries, Zillow's chief economist.

Also, the condition of the home can be an issue. A buyer who wasn't able to make mortgage payments also probably wasn't able to keep up with needed maintenance. One of the biggest mistakes La Jolla homebuyers make when buying a foreclosure is underestimating how much it's going to cost to repair it, said Rick Sharga, senior vice president of RealtyTrac.

Others agreed. "It usually ends up costing a lot more than you think it will," Middleton said. "You can add value to a property by rejuvenating it, but probably not more than the cost you put into it." Home inspections are generally recommended regardless of what type of property you're buying, and they're essential in the case of a bank-owned property.

Location matters, too, in the pricing of a bank-owned foreclosure. In places with the highest incidence of foreclosure, bank-owned properties garnered the smallest discounts, compared with traditionally sold existing homes, Humphries said. "The places that did not have very many foreclosures right now had large discounts," he said. Another way to look at it: A homeowner aiming to sell his home in a market where a large percentage of sales are foreclosures will likely have to price it like a foreclosure just to be competitive.

Short sales
Short sales offer some of the best deals, especially in the California market. A short sale is when the seller owes more on the mortgage than the home is worth, and the lender agrees to accept less for the property to make a sale. But even if you save money on a short sale, you could pay in other ways.

Although lenders and government programs are trying to speed up the process required to complete a short sale, a buyer could still wait months just to find out he or she failed to get the home. The La Jolla home is discounted partly because of the uncertainty that the buyer experiences.

"You need to understand there's a reason why they're less money - you have to play the game," Middleton said. "You have to be patient."

The market generally discounts short sales by 5% to 8%, compared with traditional sales, said Travis Hamel Olsen, chief operating officer of Loan Resolution Corp., a national pre-foreclosure asset manager.

New homes
In many markets, the supply of new-home inventory is dwindling. That has caused pricing in the new-home market to stabilize, said Middleton. That is, fewer bargains may be available for new-home buyers.

"There is less flexibility on the builders' side to negotiate prices," Middleton said. Plus, with supply more in control, "there's not as much urgency to drop prices to move the homes that are currently sitting on the market."  That isn't to say builders won't find other ways to make a deal. They're still willing to throw in incentives, like finished basements, as a way to sell a La Jolla home, Middleton said. But if you're looking to get the lowest price on a home, this might not be the best route.  And if there are distressed sales in new communities you're considering, proceed with caution.

"A lot of foreclosures in the area will drive down the prices of nonforeclosure homes," Humphries said, and that can extend to new-home inventory. It's not impossible to find foreclosures and vacant properties in communities that aren't even finished yet, he said.

Whatever route you decide to go, now is the time to buy that La Jolla home!

If you're planning an open house, don't forget one of the most important things- to protect your valuables. And remember, your real-estate agent is there to sell your La Jolla home, not police the premises.  If these are desperate times for you as a seller, be aware that these also could very well be desperate times for those looking at your home.

In May, Texas real-estate professionals were on the lookout for a man suspected of stealing $20,000 in jewelry from an open house, and police working on the case said such crimes could be on the rise because of the economic downturn. 

And even though your real-estate agent is sure to warn you to put away your valuables before holding an open house, what if visitors still find something to steal? Can sellers hold the agent responsible for the theft? We asked Agent, Khila Ward, from Middleton and Associates in La Jolla, her thoughts.  She says that, "although jewelry and money are put away, a visitor can still find ways to take what they want".  When you hold an open house, be aware that those with sticky fingers are most likely to snatch small items that can be easily concealed, including iPods, check registries, credit cards, jewelry, watches, wallets, silverware and easy to grab knick-knacks. And as we discovered, some are bold enough to walk out wearing items they've found in owners' closets, including designer furs, clothes, shoes, and handbags.

But even if the thefts took place in plain sight of the agent, Ward points out that an agent's job is to sell the La Jolla home, not to police the premises. Moreover, many listing agreements protect agents from being held responsible if a theft occurs during an open house.  Not to mention that making your agent liable for the loss could hurt your relationship, especially since the agent's assistance could help track down the thieves. Even if suspects used fake names on the sign-in sheet, your agent may be able to help police identify them.

Yes, that's right, the police. If you discover a theft took place at your La Jolla home during an open house, filing a police report is the first thing you should do, Ward advises. Your homeowners insurance policy may cover the theft, but depending on the price of the loss, it may not be worth filing a claim and paying the deductible.  After all, it's not just big-ticket items that thieves target at open houses. Ward warns that smaller, easy-to-pocket items such as iPods, silverware, check registries and knick-knacks also are frequently victims of thieves at open houses.   More blatant thefts can involve the criminal simply walking out the door wearing valuables such as the above-mentioned handbags, fur coats, designer shoes and more.

Aside from removing your valuables, there are a couple of other options. You could install security cameras and police the premises yourself, or you could simply opt to not have an open house. Either way, be aware that your agent is there to help you sell your home, but keep your valuables safe!