La Mesa-Based Realtors Sweep East County Board Elections

Peg Keeley of Keller Williams in La Mesa is the new president of the East County Board of Realtors, and Jeff Campbell of Pacific Sotheby's International Realty in La Mesa was elected 2012 president-elect as La Mesa-based agents swept the annual elections.

It was standing room only at the East County Board of Realtors on Thursday for the annual general membership elections breakfast.

The breakfast, catered by Elegant Buffet, was wonderful, I thought (but as my daughter once said, “Realtors will eat anytime and anything!”) and the speakers were informative and interesting.

Outgoing president Aaron Kerper of Prudential California in La Mesa gave a brief recap of the past year's activities and accomplishments before introducing the newly elected directors.

To qualify for a position on the board, the Realtor must have a proven record of service and by that standard these candidates were all overqualified. 

Besides Keeley and Campbell, Realtors joining the board are Rose-Anne Wood of La Mesa Prudential California and Sharon Schultz, Century-21 La Mesa—who both were elected directors.

As well, Tina Rogers Coldwell Banker La Mesa was elected vice president and Connie Butt of Team One Realty La Mesa was elected secretary-treasurer. 

All will serve for one year except for the president-elect who serves for a three-year period.  That is, unless the much talked-about and currently being negotiated merger with two other local boards takes place.  More on this later as the negotiations progress.

Response to a Comment Last Week

One of the comments last week chided me for running an article written by a local mortgage lender, Sean Purcel, saying that it was nothing more than an unpaid ad. 

The fact is that I write a column about real estate and the people who work in the real estate industry—Realtors, agents, escrow officers and escrow representatives, title companies and their representatives, banks and mortgage companies and their representatives, and most importantly the general public that buys and sells real estate. 

My mission is to inform and hopefully to entertain. I also try to seek out good information that buyers and sellers can use either in the process of purchasing their home or afterwards whether it is special loans for inproving their home, suggestions for making the home ready for resale or just general money saving ideas to make their homes more comfortable, attractive and less espensive to maintain.

New rules and new laws have become an everyday occurrence and, unfortunately, so has misinformation and scams to take advantage of the homeowner. I write about these also. 

I also write opposing opinions from good people with differing views.  One professional opinion, although good advice for some, might not be the best advice for others.

When I included Mr. Purcell's article written for a blog, it was just his opinion of the changes in today's real estate market.  It certainly was not an endorsement, which is readily apparently if one read my preface to his statement.

Having clairified my position on this, I now include another viewpoint by a well-known and trusted owner of a direct lender mortgage company who also does business in La Mesa.  Please keep in mind that this was written a week later and that, as usual, new information had come down from HUD.

Mortgage Loan Limits:

By Linnea Arrington, president,  San Diego Funding

Last week the Mortgage Bankers Association put out a statement by their president, David Stevens, advocating a continuation of the higher loan limits at Fannie, Freddie and FHA for one more year. 

“The temporary loan limits authorized by Congress have benefited consumers and the housing market during what has been a turbulent period for our nation's economy,” Stevens said in the statement. 

He went on to say: “It looked very clear at the beginning of the year that we were heading toward a flattening of the market, but we've seen clearly an impact to the housing market which is not solely a result of the U.S. economy.

“It’s brought on by general uncertainities; Oil prices spiked for a while, which hit confidence, there were a lot of impacts both domestically and internationally, I think the view right now that I have is that this is a relatively inexpensive initiative that could support the housing market at a time when pulling back makes no sense.” 

He also said private capital is still too nervous about the state of housing to come back in force now. As for the FHA, which he has maintained has too large a market share right now, he said, “If FHA is still too big, it is the sign of an unhealthy system, but it doesn't mean pulling back is the right answer.  we must continue providing support.”

As president of San Diego Funding, I work with many first-time and buy-up home buyers and agree that it is very important to keeep the higher loan amounts for another year. 

The housing market is still too fragile to lose any incentive that helps buyer's obtain financing.  It is not helping the wealthy segment but the middle class which is imperative to the recovery in housing.      

The Week in La Mesa Real Estate Activity

It was an active week in La Mesa (incorporated and unincorporated).

Twenty-six properties came on the market, 23 single-family homes and three condos.  Some 18 properties went into escrow, and 19 families moved into their new homes.

My Pick of the Week (shown) is 8085 Binney St.  Built in 1955 and recently remodeled, it is priced at $389,900 - $409,900. To see this home or others in your area of interest, call your favorite Realtor.