Windermere to Occupy Former Home of Cal Coast Credit Union

California Coast Credit Union on Allison Avenue closed across the street from City Hall months ago, moving to the nearby La Mesa Springs Shopping Center at 8002 La Mesa Blvd. So what became of the building? It sat vacant until recently.

But an affiliate of Windermere Real Estate has begun moving into the former bank home, west of the old police station, at 8131 Allison Ave.

Now Windermere of Southern California is looking for a few good agents. It hired Tim Hintz, until recently with Pacific Sotheby’s International Realty at 8310 La Mesa Blvd., as manager with the primary task of recruiting and hiring 50-60 agents.

Where is he going to find these agents?  He will be calling on other agents already established and with a good sales record.  Of course, no one is going to go through the monumental task of changing offices and all the time and money associated with such a change without  “an offer they can’t refuse.” 

Jenna Zeledon, who works for a company associated with Vons shopping center owner Auerbach Realty Group, said Windermere took possession of the space a few  weeks ago and tenant improvements are scheduled to begin, including a new roof, fresh paint to match the Civic Center and landscape upgrades.

“They liked the space due to its visibility and location, in addition to having use of the storage shed adjacent to the building (previously used for storage by ownership for items like paint for the center, holiday decorations, etc.),” Zeledon says.  “Cal Coast never had use of that shed.”

The shed also will store open house signs, holiday decorations, etc.

 Condos Eligible for FHA loans?

 (News from the California Association of Realtors)

A significant share of condominium and townhome buyers now rely upon the FHA (Federal Housing Agency) loan program. 

Many homowner associations have lost their FHA status due to short sales and foreclosures.  When not enough money is set aside for reserves to make repairs and maintenance of the complex, FHA loans are not considered and most banks will not lend on the unit. 

Clarius FHA Approval Eligibility Check Service is now available to Realtors to immediately answer that question for a small fee.  Now a simple address check will provide real-time information that will determine a condominium’s FHA approval and eligibility status, saving the buyer time and disappointment. 

This is a one-of-a-kind service available only to Realtors.

The Veterans Administration still offers a great loan to veterans and is much more lenient.  It will lend if the complex is on the VA availability list for lenders. Instead of the current 3.5 percent down payment in the FHA loan, VA is no down payment as long as the house price is  under $417,000.  After $417,000, VA can still be used, but a 25% down payment is needed on any amount over the $417,000.

This Week in La Mesa Real Estate

City saw 23 new listings this week—single-family detached and condos.

91941

7225 Carmenita Rd.      3 bd/2 ba      $369,000

8550 Sunrise Ave.           3 bd/2 ba     $410,000

7920 Wetherly St.           3 bd/2 ba     $415,000

4650 Edenvale Ave.       3 bd/3 ba    $579,000

7623 Seattle Dr.              5 bd/3 ba     $600,000

9360 Lavell                       4 bd/3 ba     $799,000

91942

7504 Parkway Dr.  No. 207     1 bd/1/ba  $85,000 - $90,000

8220 Vincetta Dr. No. 4            2 bd/2 ba  $119,000

5704 Baltimore Dr. No. 291    1 bd/1 ba   $125,000

4847 Parks Ave. No. 36            2 bd/2 ba   $148,135

5750 Amaya Dr. No. 34           1 bd/1 ba    $164,900

7940 University Ave. No. 18   2 bd/2 ba  $199,000

5702 Baltimore Dr. No. 276    2 bd/2 ba   $219,000

7573 Ohio Place                            3 bd/3 ba  $290,000

5855 Lake Murray Blvd.      3 bd/2 ba  $324,900

5730 Severin Dr.                     3 bd/2 ba  $325,000

7248 Berkeley Dr.                 3 bd/2 ba  $329,000

4680 Harbinson Ave.            3 bd/2 ba  $319,000 - $339,000

5888 Dugan Ave.                     4 bd/2 ba  $345,000

6849 Rosefield Dr.                 3 bd/2 ba  $357,000

6250 Henderson Dr.              3 bd/2 ba  $395,000

8035 Carlette St.                     4 bd/2 ba  $385,000 - $400,000

8476 Midland St.                     4 bd/3 ba  $430,000 - $460,000

No record of new escrows or completed sales this week.