April Real Estate Guide by Del Coronado Realty

The Ultimate Coronado Home Buyers Guide AP RIL 2016 Del Coronado Realty

Own a Piece of Hotel del Coronado P16

5 Things You Need To Know About Coronado Real Estate P12

See Homes for Sale in Coronado Right Now The Ultimate Coronado Real Estate Guide—April 2016 1 WHAT’S INSIDE

About Coronado Amongst all the beach towns and oceanfront properties in California, Coronado holds a unique and coveted position. Coronado Island real estate offers one of the most desirable locations in the world for a multitude of reasons. Because of its near perfect Southern California climate, location, natural beauty and exclusivity, Coronado Island homes for sale provide the buyer with an unparalleled investment opportunity. Coronado Island realty also offers a wide spectrum of architectural styles and types of properties to choose from. Coronado Island homes provide the buyer with outdoor living at its finest. Island life is casual, friendly, and yet, still offers a sophisticated set of amenities. Coronado’s shops, galleries, library, parks, top-notch schools, theaters, restaurants, resorts and hotels create an idyllic coastal lifestyle. Getting around is easy, with bicycles being a favorite mode of transportation. Beaches and bays are all within easy walking distance from any point on the island. Coronado Island homes are situated in seven basic neighborhoods, five of which are arranged around the core of the town on the “island,” which is laid out in an easy-to-navigate, ten block gird. Each neighborhood has its own unique feel and attraction. Homes for sale on Coronado Island are also all near at least one of the thirteen lovely parks that are sprinkled throughout the island. These help to anchor and

Coronado Neighborhoods

provide a focal point for each of the island’s neighborhoods. From the

Coronado Village

intimate bay-side hideaway just off of I Avenue and 1st Street, to the

Beach Village at The Del

central, tree-covered, gazebo-adorned expanse of Spreckles Park and wide-open sports friendly expanse of Tidelands Park, Coronado’s public spaces offer something for everyone.

Coronado Shores Coronado Cays Hotel del Coronado

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale CORONADO VILLAGE

FEAT URED P ROP ER T IES FO R SA L E

Coronado Village Perhaps no other neighborhood captures the essence of Coronado Island real estate like the Central Village, which is the central part of the island. With Coronado’s award-winning schools, the outstanding Coronado Library and gorgeous Spreckles Park at the center of this district, the six or so surrounding blocks are probably some of the most family-friendly areas on the island. Cozy, immaculately kept 1920s apartments, beautifully restored Craftsman style bungalows, modern coastal-style family homes, Spanish Revival houses and southwestern, adobe Pueblo Revival all blend together to create a diverse, charming heart to the island. Tree-lined streets and beautifully landscaped front yards—often filled with an abundance of flowers—all contribute to the island’s intrinsic, story-book charm. 4

1109 F Avenue 5 Bedrooms / 2.5 Bathrooms A rare find on a small island where space is at such a premium, this 5 bedroom, 2.5 bath home sits on over 11,800 square feet of land just a block from the world famous Coronado beach. Generous sized bedrooms with a peek of ocean views, a guest-friendly kitchen, a spacious backyard and a detached guesthouse makes entertaining easy. This craftsman-style home was originally built in 1913 and embodies the charm that this small town is known for. It offers modern upgrades such as crown molding and hardwood floors – as well as a two-car detached garage. The location also allows you to be walking distance from the beach, the famous Hotel del Coronado and some of the best restaurants San Diego has to offer. This property also has the potential to be split into 2 legal lots! Please contact the City of Coronado Planning Dept. for details and requirements.

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale

CORONADO VILLAGE

FEAT UR E D P R O P E R T IES

FEAT URED P ROP ER T IES

FO R SA L E

1714 Monterey Avenue

269 Palm Avenue

4 Bedrooms / 2.5 Bathrooms

3 Bedrooms / 3 Bathrooms

Situated in a secluded and desirable location, this spacious two story, fourbedroom home located off Monterey Avenue offers unrivaled views of the Coronado golf course and Glorietta Bay.

This Nantucket style home is located in the coveted Coronado Village across from sunny Palm Park and just two short blocks to the San Diego bay.

The 3,446 square-foot home is equipped with an ultra modern kitchen with pristine white cabinetry, master bedroom suites on both the first and second floors and a quiet office that contains striking views. The backyard offers a stunning outdoor area with a pool, spa, and room for entertaining. This home accurately ties in the definition of luxury and comfort.

The completely upgraded kitchen in this 2,268 square foot home features a spacious kitchen with granite countertops, stainless steel appliances, and an immense amount of counter space. Head up to the “Bird’s Nest” on the third floor and experience a fourth room like no other. This dual office space area allows for some sought-after privacy while supplying stunning views of the San Diego Bay and the Coronado Bridge. Soak in your own hot tub, cozy up next to your fire pit, or relax in your outdoor dining and seating areas. This space is sure to impress your friends and family while entertaining. After a long day, experience the comfort of your Master suite that features a fireplace and a stunning walk-in closet. Enter your Master bath with double sinks, a rainfall shower, and a soaking tub. Jump into the Coronado Village lifestyle with a home that has it all.

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale

CORONADO VILLAGE

FEAT UR E D P R O P E R T IES

FEAT URED P ROP ER T IES

FO R SA L E

917 A Avenue

1070 Coronado Avenue

3 Bedrooms / 3 Bathrooms

6+ Bedrooms / 5.5 Bathrooms

Experience beach living at its finest! Just two short blocks from the beach, this charming, one-of-a-kind home encompasses the magical merging of comfort and style in a coastal community.

This exquisite 6+ bedroom, 5.5 bathroom custom built home provides panoramic ocean and island views and is situated on a large, oversized lot of coveted Coronado land. A home you’ve been dreaming of your entire life, this stunning property is located in a private, quiet area that allows you to experience Coronado living with simple access to the beach just steps away!

Located in stunning Coronado Village, this home features a spacious living room and dining room with high ceilings, large windows, and original hardwood floors, an open, bright office space area with neighborhood views, and a beautiful Master suite conveniently located on the first floor. Offering three full bedrooms, an optional fourth and two elegant bathrooms, this home truly has it all. Highlights include a fireplace in the living room, extra closet and storage space, and, most of all, a quaint guest house/writer’s studio out back. The guest house/ writer’s studio features a full bathroom and half kitchen! Entertain in grand style with your large backyard surrounded by foliage and equipped with stylish finishes, allowing you to enjoy a perfect setting for relaxing, entertaining, or both! 8

FO R SA L E

The exceptional gourmet kitchen opens to a voluminous great room, flooded with natural light, hardwood floors and beautiful, high ceilings. Other features include a 4-car garage with additional parking and a rooftop deck with gorgeous 360 degree views that include the San Diego Skyline, Point Loma, the beautiful Pacific Ocean and the iconic Hotel del Coronado. This stylish and impeccable oasis offers a seamless transition to a fabulous indoor/outdoor lifestyle, featuring a beautiful pool, spa and yard – suitable for every entertainer!

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale

CORONADO VILLAGE

ATTACHED CONDOS AND TOWNHOMES

DETACHED HOMES

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

1106 4th Street #2

$395,000

276 F Avenue

$849,000

1106 4th Street #4

$614,900

336 Pomona Avenue

$1,050,000

1106 4th Street #5

$699,000

234 C Avenue

$1,050,000

721 D Avenue

$734,000

334 G Avenue

$1,175,000

333 D Avenue #2

$965,000

427 F Avenue

$1,385,000

1224 6th Street

$1,395,000

229 Orange Avenue #4

$988,000

160 D Avenue

$1,395,000

924 E Avenue

$1,195,000

821 C Avenue

$1,399,000

1099 1st Street #106

$1,279,000

1448 3rd Street

$1,449,000

1133 1st Street #220

$1,295,000

955 E Avenue

$1,495,000

141 Orange Avenue #306

$1,345,000

216 H Avenue

$1,499,000

411 Orange Avenue #1

$1,695,000

429 F Avenue

$1,585,000

141 Orange Avenue #301

$1,795,000

269 Palm Avenue

$1,595,000

141 Orange Avenue #302

$1,975,000 - $2,075,000

346 Glorietta Boulevard

$1,595,000

1101 1st Street #113

$2,095,000

412 A Avenue

$1,698,000

374 D Avenue

$1,699,000

1500 Orange Avenue #28

$2,898,000

372 D Avenue

$1,699,000

1105 6th Street

$3,299,000

534 C Avenue

$1,775,000

431 F Avenue

$1,875,000

334 E Avenue

$1,885,000

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale

CORONADO VILLAGE

DETACHED HOMES

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

1519 Maria Pl

$1,980,000

1714 Monterey Avenue

$2,760,000

766 B Avenue

2,099,000

511 C Avenue

$2,795,000

917 A Avenue

$2,100,000

108-110 Orange Avenue

$2,980,000

936 10th Street

$2,175,000

1508 Ynez Place

$2,995,000

813 H Avenue

$2,179,000

851 Cabrillo Avenue

$3,499,000

934 10th Street

$2,275,000

475 A Avenue

$3,500,000

600 9th Street

$2,279,000

1129 Star Park Circle

$3,795,000

802 Adella Avenue

$2,325,000

611 Coronado Avenue

$3,795,000

160 Carob Way

$2,380,000

1027 G Avenue

$3,850,000

500 J Avenue

$2,385,000

1030 Alameda Boulevard

$3,850,000

650 Alameda Boulevard

$2,399,000

815 1st Street

$3,900,000

250 I Avenue

$2,435,000

1125 Alameda Boulevard

$4,199,000

1700 Miguel Avenue

$2,550,000

720 J Avenue

$4,280,000

1017 Encino Row

$2,565,000

1127 Alameda Boulevard

$4,299,000

1413 8th Street

$2,590,000

1121 Alameda Boulevard

$4,350,000

566 B Avenue

$2,395,000 - $2,595,000

811 Country Club

$4,399,000

111 Carob Way

$2,650,000

520 Glorietta

$4,750,000

530 I Avenue

$2,675,000

1034 Loma Avenue

$4,790,000

342-344 J Avenue

$2,695,000

1014 Flora Avenue

$4,850,000 Listings continue on page 16

The Ultimate Coronado Real Estate Guide—April 2016

5 Things You Need To Know About Coronado Real Estate

Coronado is a Lifestyle

Ask tourists what they love about Coronado and the answers are similar across the board: the beach, the weather, iconic Hotel del Coronado. Residents soak up the Crown City’s resort attributes, too, but they’ll also tell you that the Coronado Unified School District is consistently ranked among the top school districts in San Diego County. Award-winning faculty, actively involved parents, and unique programs like the Coronado School of the Arts (CoSA) make Coronado the perfect place to raise children.

When you buy a home in Coronado, you get so much more than the home itself. To live here is to discover a spirited, refreshing lifestyle in a safe, walkable, tight-knit community that thrives on the radiant energy brought by vacationers from around the world. Nestled along the pristine waters of the Pacific Ocean yet adjoined to California’s second largest city by bridge, Coronado is a place where young couples, families, and retirees alike can find the life balance they’ve always wished for.

Coronado is Its Own City

More Than a Tourist Town — Top Rated Public Schools

A Boat Owner’s Safe Harbor — 3 Yacht Clubs + Homes With Private Docks

Not only does Coronado offer California’s southernmost homes with private docks; the closest place you’ll find a home with your own slip is nearly 100 miles up the coast in Newport Beach. Few places in the world can match the seaside luxury that Coronado evokes. There are three yacht clubs on the island (Coronado Yacht Club, Coronado Cays Yacht Club, and Navy Yacht Club San Diego) –it’s geographically impossible to be more than a mile from one of them anywhere you are on the island.

Year-Round Events and Traditions

Many people don’t realize that Coronado is actually an incorporated city. That’s not just a fun fact – it means that your tax dollars are more visible. The City of Coronado has a strong tax basis, and is extremely supportive of local events, businesses, and community development initiatives. Whether you’re electing city officials or voting on a neighborhood project, your voice is always heard!

At the north end of Coronado, Naval Air Station North Island is recognized as the “Birthplace of Naval Aviation,” and a part of the United States Navy’s largest military-industrial complex. In addition to the Naval history and prominence ingrained in Coronado culture, you’ll find an endless assortment of events throughout the year. From the Christmas Parade down Orange Avenue and ice skating on the beach, to the Coronado Flower Show, 4th of July Fireworks, and Promenade Summer Concert Series, Coronado never runs low on fun to be had.

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale CORONADO VILLAGE

DETACHED HOMES ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

1027 Flora Avenue

$4,850,000

532 Marina Avenue

$4,900,000 - $5,200,000

820 Glorietta Boulevard

$5,250,000

1109 F Avenue

$5,300,000

1015 Alameda Boulevard

$5,450,000

1030 Loma Avenue

$5,450,000

521 Marina Avenue

$5,850,000

1070 Coronado Avenue

$6,500,000

913 1st Street

$6,975,000

929 1st Street

$8,400,000

911 1st Street

$8,495,000

708 A Avenue

$8,500,000 - $11,500,000

701 1st Street

$11,997,000

711 A Avenue

$16,250,000

We have 8 exclusive private sale opportunities that are not currently public!

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Retail Corridor of Hotel del Coronado 1500 Orange Avenue, Coronado, CA 92118

Beach Village at The Del

Own part of The Del!

Enjoy the rare opportunity to take pleasure in the privately gated lavish charms of Beach Village. Nestled within the grounds of the iconic Hotel del Coronado, the fivestar Beach Village resort offers an atmosphere of casual luxury with all the amenities of a world-class resort at your fingertips. Indulge in the luxurious amenities within this coveted enclave, including a private pool, state-ofthe-art fitness center, world-class spa, finest dining and even a personal concierge to make sure your every desire is met. Although there is no need to leave The Del, you can find comfort in knowing The Village of Coronado is steps away. Filled with quaint local shops, and restaurants, you are sure to quench your thirst for a Coronado adventure. Owning a part of the Beach Village is truly a once in a lifetime opportunity to experience one of the most unique lifestyles Coronado has to offer with nothing but the sand between you and the ocean’s edge. As an owner at Beach Village, you and your family can enjoy up to 90 days per year of beach front luxury (25 days in a 50 day period), while sharing in the rental revenue the rest of the year. Full ownership, limited use. The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale BEACH VILLAGE AT THE DEL

FOR SALE

1500 Orange Avenue #28 2 Bedrooms / 2 Bathrooms This luxurious Beach Village Villa features a modern and thoughtfully planned great room with an inviting kitchen, dining and living area. Two spacious master suites offer cozy fireplaces and a panoramic ocean view from expansive balconies. Enjoy private Beach Village amenities that include outdoor swimming pools and Jacuzzis, manicured landscaping with access to the award winning Coronado Beach. Coronado Village has a small town feel and a unique lifestyle. Where living and vacationing become one in the same. Whole Ownership, Limited Use. Feel right at home with this picturesque vacation home, which includes hardwood flooring, crown molding, a modern kitchen and bathrooms and a stunning patio view. Not to mention, this Villa is well-appointed!

We have 8 exclusive private sale opportunities that are not currently public!

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Retail Corridor of Hotel del Coronado 1500 Orange Avenue, Coronado, CA 92118

Coronado Shores The Coronado Shores consist of 10 unique, high-rise towers that have impressive views of the Pacific Ocean and Glorietta Bay. They are also walking distance to the striking and iconic Hotel del Coronado. The Shores present resort-style living and include amenities such as pools, spas, tennis courts, exercise rooms, 24-hour doorman and security, and fun, social activities for you and your neighbors! Also, each tower is incorporated and governed by its own condo association! Panoramic views from The Shores include downtown San Diego, the Coronado Bridge, the Vallecito mountains, Point Loma, Hotel del Coronado and, of course, the endless views of the unwavering Pacific Ocean. Whether you own a vacation home or live here year-round, The Shores are guaranteed to make you feel like you are living in paradise. These condos are popular for both primary residences and vacation or investment properties. Enjoy a short walk to the warm, sandy beaches or stroll over to the Hotel del to truly soak in the beauty Coronado has to offer! The Ultimate Coronado Real Estate Guideâ&#x20AC;&#x201D;April 2016

Properties for Sale

CORONADO SHORES

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

1830 Avenida Del Mundo #903

$765,000

1830 Avenida Del Mundo #604

$1,849,000

1830 Avenida Del Mundo #503

$789,000

1720 Avenida Del Mundo #208

$1,875,000

1750 Avenida Del Mundo #810

$925,000

1730 Avenida Del Mundo #204

$1,980,000

1820 Avenida Del Mundo #110

$969,000

1760 Avenida Del Mundo #109

$1,999,000

1770 Avenida Del Mundo #101

$975,000

1750 Avenida Del Mundo #807

$2,490,000

1720 Avenida Del Mundo #307

$1,060,000

1760 Avenida Del Mundo #506

$2,490,000

1750 Avenida Del Mundo #1006

$1,075,000

1830 Avenida Del Mundo #907 & 908

$2,762,000

1780 Avenida Del Mundo #901

$1,329,000

1770 Avenida Del Mundo #407/08

$2,850,000

1810 Avenida Del Mundo #202

$1,390,000

1720 Avenida Del Mundo #704

$3,400,000

1780 Avenida Del Mundo #303

$1,498,000

1720 Avenida Del Mundo PH06-05

$3,800,000

1820 Avenida Del Mundo #1503

$1,539,000

1730 Avenida Del Mundo #810

$1,550,000

1750 Avenida Del Mundo #1108

$1,589,000

1720 Avenida Del Mundo #903

$1,639,000

1810 Avenida Del Mundo #309

$1,694,000

1780 Avenida Del Mundo #402

$1,775,000

1770 Avenida Del Mundo #103

$1,825,000

We have 8 exclusive private sale opportunities that are not currently public!

C ALL

619.437.1888

VI SI T

Retail Corridor of Hotel del Coronado 1500 Orange Avenue, Coronado, CA 92118

The Ultimate Coronado Real Estate Guide—April 2016

5 Things You Need To Know About Jumbo Home Loans

Here are five things you need to know about jumbo home loans and what to expect when applying for one:

Longer Processing Period

There is more at stake with a jumbo home loan, and thus the time between application and approval is typically longer. Conforming loans usually take roughly 21-30 days to go process, approve and fund. A jumbo mortgage can be processed quickly, but typically takes 30-35 days to close.

Jumbo loan means a larger loan balance and greater risk for the lender. As such, the restrictions are tighter, and the guidelines are generally tougher. When you think of buying a home, good credit, money saved, and solid income are prerequisites. With a jumbo home loan, the bar is raised. You are generally required to demonstrate that you have an excellent credit rating, a reasonable debt-to-income ratio and reserve funds in order to qualify.

Down Payment: Minimum 10%

Jumbo lenders have more autonomy and more underwriting authority. In some ways jumbo loans are actually more flexible. There is little wiggle room with regards to guidelines on conforming loans. Government agencies such as Fannie Mae and Freddie Mac write the rules and leave little room for lenders to apply their own input. Jumbo lenders take on more risk, but can also choose to be more lenient when they can justify doing so. For instance, a jumbo lender may qualify a borrower who is willing to put less down, but has more in reserves and/or has a stronger credit rating. The same is not true on a conforming loan. You might have $25 million in the bank, but if the conforming guidelines call for 5% down then you must put 5% down regardless how much money you have saved, how strong your credit rating is, etc.

A jumbo mortgage is a home loan for an amount that exceeds the regulatory conforming loan limit. The limit is $417,000 in most of the United States and tops off at $625,500 in the highest-cost areas. The current limit in San Diego County is $580,750 for a single family dwelling.

Tougher Qualification Requirements

More Flexibility for Strong Borrowers

Conforming loans allow for as little as 3% down. However, jumbo lenders want borrowers to have more “skin in the game”. 10% down at the very least in most cases and the percentage increases as the desired loan amount increases.

A Return to Power

There is a widespread misconception that jumbo home loan rates are higher than conforming rate. That is not always the case. During the economic downturn, when jumbo financing all but disappeared, it was indeed difficult to find a jumbo loan with a desirable rate. But, with the recovery of the real estate market in full swing, jumbo rates are now every bit as good as conventional loan rates, if not better. Jumbo loans are being offered by more lenders and the terms are quite attractive today.

A B OU T TH E A U TH OR Kory Kavanewsky entered the mortgage industry in 2002 and has worked in several different channels within the business over the past 14 years. He opened his first Coronado office in 2006 and currently manages two branches in San Diego County (Coronado and Scripps Ranch) for CMG Mortgage, Inc. Kory has been recognized by San Diego Magazine and Coronado Lifestyle Magazine readers for outstanding client service and by Scotsman Guide for overall production volume. Kory was born and raised in Coronado and currently lives on the island with his wife and two boys. He enjoys hanging out with his family, playing pickup basketball, relaxing at the beach, and live music.

The Ultimate Coronado Guide—April 2016 H AV E QU ESTION S? Email Kory at kory@cmgfi.com or Real callEstate 619.554.1327

Properties for Sale CORONADO CAYS

ATTACHED CONDOS AND TOWNHOMES

Coronado Cays Just four miles south of Coronado’s main island is another distinctive Coronado community. Coronado Cays homes for sale offer the buyer a different type of experience in Coronado living. A gated community, directly across from Silver Strand Beach, the Cays, offers its residents a relaxed, low-key way-of-life—with an accent on outdoor living. Each Village represents an oasis of peaceful living, and has access to five exclusive club houses, pools and spas. Any of the clubhouses can be reserved by Cays residents for personal social events such as parties and weddings. Other Coronado Cays amenities include Silver Strand State Beach access, 5 lighted tennis courts, the grassy, six-acre, Coronado Cays Park with sports facilities and a dedicated dog run, it’s own city fire department, security patrols, and the Coronado Cays Yacht Club. Coronado Cays real estate for sale ranges from large detached homes, and waterfront condo’s, to palatial estates with private docks. While the majority of homes aren’t directly on the water, the lots are often larger than what one can find on Coronado Island proper. Each Village has its own distinct personality and amenities. 24

ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

67 Montego Court

$859,000

82 Antigua Court

$949,000

62 Antigua Court

$949,000

78 Kingston Court W

$999,500

106 Antigua Court

$1,029,000

65 Kingston Court W

$1,099,000

89 Antigua Court

$1,165,000

3 Antigua Court

$1,175,000

DETACHED HOMES ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

12 Half Moon Bend

$930,000

33 Port Royale

$1,049,987

12 Port Royale

$1,100,000

43 Port Royale

$1,189,000

5 Bahama Bend

$1,190,000

85 Trinidad Bend

$1,195,000

76 Half Moon Bend

$1,199,999

47 Green Turtle

$1,799,000

52 Spinnaker Way

$1,829,000

The Ultimate Coronado Real Estate Guide—April 2016

Properties for Sale CORONADO CAYS

DETACHED HOMES ADDRESS

BEDROOMS

BATHROOMS

LIST PRICE

32 Admiralty Cross

$1,899,000

11 Sixpence Way

$1,949,000

27 The Point

$1,950,000

48 Spinnaker Way

$2,498,000

19 Blue Anchor Cay

$2,950,000

15 Green Turtle Road

$3,195,000

26 Blue Anchor Cay

$2,950,000 - $3,450,000

17 Buccaneer Way

$2,999,000 - $3,499,000

24 Buccaneer Way

$3,945,000

4 Spinnaker Way

$4,850,000

16 The Point

$4,950,000

6 Sixpence Way

$5,498,000

14 Spinnaker Way

$5,395,000 - $5,995,000

1 Spinnaker Way

$11,900,000 - $12,900,000

Active Military Personnel: Use VA Loans to Build a Real Estate Investment Portfolio The life of a military family is filled with obstacles and uncertainties. But, the emotional challenges are balanced with a collage of unforgettable family moments, and an array of much-deserved financial benefits. Veterans Affairs mortgages, commonly known as VA loans, enable servicemembers, veterans, and eligible surviving spouses to secure a 100% loan up to a specified dollar amount with no down payment. Many active duty military personnel underutilize their VA loan privileges because they simply don’t believe they have buying power. This article will help you not only understand how a VA loan works, but also leverage your VA loans as part of a savvy real estate investment strategy. Continues on Next Page

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Retail Corridor of Hotel del Coronado 1500 Orange Avenue, Coronado, CA 92118

The Ultimate Coronado Real Estate Guide—April 2016

Getting a VA Loan

The eligibility requirements for obtaining a VA home loan vary based on service status, and are listed on the U.S. Department of Veterans Affairs website. Active duty military are typically eligible after 6 months of service. If you have solid credit and income along with a Certificate of Eligibility, you are ready to seek prequalification and preapproval. The key benefits for VA borrowers are: • No down payment • No mortgage insurance needed

4 Steps to Owning in Coronado

Coronado is an especially lucrative market that military families can tap into by pairing a VA loan with your Thrift Savings Plan (TSP) as your down payment. For slightly more than you would pay in rent, you can buy a home that has the potential to double in value over the next decade. Enjoy being a homeowner in paradise for the next few years, and when you’re no longer stationed on the island, rent out your Coronado home so that it slowly pays for itself.

Buying a home here may seem daunting, but it’s really only a four-step process:

• Lower fees • Your VA entitlement is reusable

1. Contact a local realtor so that they can direct you to a lender

People often assume that the loan is coming directly from the Department of Veterans Affairs, which is incorrect. The loan is still made by a private lender, while the VA guarantees a portion of it.

specializing in VA loans.

2. Work with your realtor to determine your buying power factoring in your collective VA benefits (including housing allowance, bonuses, etc.).

3. Start shopping and viewing homes that fit your budget, needs, and lifestyle.

Investing with Your VA Benefit

4. Negotiate an offer that maximizes all of your VA benefits.

Military families often assume they have to rent because they move to a new location every few years. But, any financial advisor will tell you that renting is generally comparable to throwing money down the drain. “If you’re seeking long-term financial success, you can consider purchasing your VA loan entitlement in the city you are stationed in,” says Ruth Ann Fisher, team leader of Del Coronado Real Estate. “You can then rent out your previous home(s) so that your tenants are essentially paying your mortgage(s).” Fisher is a military wife who had moved 17 times in 22 years before finally making Coronado her permanent home in 1999. While employing Fisher’s recommended strategy, you are building a strong portfolio of properties that you can continue to rent out, sell, or pull equity from. Each home you live in becomes an investment, which can also go a long way toward easing the anxiety and disconnect your family might feel knowing that home is always temporary.

As Coronado’s premier real estate brokerage, Del Coronado Realty has helped countless military families use their VA benefits to buy in beautiful Coronado. If you’re looking to do the same, contact us at 619-437-1888, or visit our office located in the iconic Hotel del Coronado. The Ultimate Coronado Real Estate Guide—April 2016

Can You Afford a Home in Coronado? You Might Be Surprised

Near the southern tip of the island, the Cays consist of 10 different villages with an array of living options including condos, houses, planned unit developments, detached homes, and attached homes. There are 2-bedroom condos in the $700k range and 3-bedroom houses right at the $1 million mark. Overall, there are plenty of modest home prices to be found in Coronado virtually anywhere on the island you look.

world-class beach, the panoramic view of Downtown San Diego, the seaside

The Full Spectrum

village quaintness, the top-rated schools—only multi-millionaires can afford to

Coronado is one of the most beautiful places to live in the entire U.S. The

live here, right?

When buying a home in Coronado, you will see a wide range of options in between the $1 million mark and sheer extravagance. Moving up the scale, here are a few ballpark figures:

While most homeowners view Coronado as an “I wish I could live there” oasis, the reality is that the island has a diverse real estate market that is far from impenetrable. Sure, with a median home value exceeding $1.6 million and

• Village, 2,500 sq. foot home: $1.4 million–$1.5 million

rising, there are plenty of places reserved for the ultra-affluent. But you can

• Shores, 2-bedroom condo: $1.5 million

just as easily find a wonderful home for half that price.

• Shores, 3-bedroom condo, ocean view: $1.8 million - $3.4 million

You’re Not Just Buying a Home

What Can You Get for Under $1 Million?

The Coronado real estate market is divided into 3 sections: the Village, the Shores, and the Cays. The Village is the center of the island, just over the San Diego–Coronado Bridge. Here you can find a 1- or 2-bedroom condo for roughly $500k-$600k. You might also find a 3-bedroom townhouse for $800k or a singlefamily detached home for just under $1 million. The Shores are the high-rises adjacent to the iconic Hotel del Coronado. These condos offer oceanfront and bay views, with studios going for roughly $600k and 1-bedroom units fetching approximately $900k.

As you would probably guess, the closer you get to the beach, the more you can expect to pay. However, Coronado is a small island, and regardless of how much you spend, you are still gaining access to a truly enviable lifestyle. You’re always in walking distance not only to the beach, but also to tons of dining options, entertainment, and all of your necessities. And between the island’s low crime rate and top-notch schools, you’d have a hard time finding a better place to raise children. Moving to Coronado isn’t necessarily a matter of “downsizing,” either. On paper, the square-footage might be less. But most people who are attracted to Coronado prefer to spend most of their time outdoors and with friends, anyway. From walking down charming Orange Avenue for coffee on a Sunday morning to watching the sun set over the Pacific Ocean on a Wednesday night, Coronado is a pleasant, safe, tight-knit community that redefines the word “home.” Continues on Next Page

The Ultimate Coronado Real Estate Guide—April 2016

Military Families Can Buy Here, Too

Military is ingrained in San Diego’s culture, particularly in Coronado, where Naval Base Coronado employs more than 36,000 military and civilian personnel. Military families often hold the common misconception that they can’t afford to buy here, but VA loans make it entirely manageable. For more on this strategy, read our article in this guide on using VA loans to build a real estate investment portfolio.

Shop Around

Whether you’re considering Coronado for retirement, to raise children, or simply because you’re enchanted by the island lifestyle, Del Coronado Realty can help you find your new Coronado home. Call 619-437-1888 to get in touch with our experienced team of Coronado real estate experts.

About the Del Coronado Realty Team Your Local Experts For Home Buying and Selling in all areas of Coronado. Del Coronado Realty is a full service boutique brokerage specializing in Concierge-level real estate in Coronado CA, La Jolla, Del Mar Heights, and the surrounding Coastal San Diego Areas. The establishment of Del Coronado Realty at the iconic Hotel del Coronado has brought an unparalleled benefit to this brokerage. Located in the retail corridor of The Del, just steps away from the main lobby, Del Coronado Realty is accessible seven days a week to the hotel’s many patrons. As Coronado agents, the team’s experience and local market knowledge is unsurpassed.

H AV E A B U SY SC HEDULE?

That’s okay, we can come to you! Call us at 619.437.1888

The Ultimate Coronado Real Estate Guide—April 2016

Ruth Ann Fisher

Karen Hust

B R OK E R

SALES ASSO C I ATE

(619) 733-4100 ruthann@delcoronadorealty.com

Ruth Ann Fisher, Del Coronado Realty’s team leader, brings over 30 years of real estate experience and a wealth of in-depth knowledge to every client relationship. Loved by her clients, and widely respected among her colleagues, her exemplary service, professionalism and integrity set her apart. Focusing closely on her client’s lifestyle, as well as on every detail of the sale, Ruth Ann provides the epitome in client care—routinely going above and beyond what is necessary to ensure absolute satisfaction. “The client comes first. My primary priority is understanding my client’s needs and desires so they end up happy with the decision that they make,” she says. “I give honest advice even if it means someone doesn’t buy a particular home.” Her devotion and conscientiousness have resulted in many of her clients also becoming her friends. A Coronado resident since 1999, Ruth Ann has a broad knowledge of the Southern California real estate market and understands the special allure of a coastal lifestyle. As a dedicated member of the Coronado community, she is a visible presence in Coronado and is actively involved with the Coronado schools.

(619) 838-7021 karen@delcoronadorealty.com

Upon meeting Karen Hust, her authenticity is immediately evident. Meanwhile, her tireless work ethic and deep knowledge of the San Diego real estate market translate to a truly superior client experience. Karen found her calling in real estate in 2008 before joining Del Coronado Realty in 2012. She combines her extensive background in sales with a knack for building long-term relationships to exemplify Del Coronado Realty’s core values of professionalism, approachability, and integrity. “For me, the most important thing is to make a human connection with each client, and reassure them that they are getting 100% honesty,” Karen says. “I absolutely love my job, and most of my clients become long-lasting friends.” Karen’s drive and dedication have earned her recognition in San Diego Magazine as a Five Star Real Estate Agent for seven straight years. A confirmed “workaholic,” Karen takes pride in playing a key role in the success and growth of a boutique luxury team. She appreciates the opportunities afforded by Del Coronado Realty, and truly enjoys her long days in the office. CA BRE #01708516

Recognized as a leader in the industry, her many awards include: • National Real Estate Awards - Top Agent (Luxury Property Sales, Coronado and South Bay) 2008 • San Diego Magazine 5 Star Award, Best in Client Satisfaction, 2008-2010 • Coronado Lifestyle Magazine, Best of Coronado, People’s Choice Award Best Real Estate Agent every year since 2006 • Member, Who’s Who in Luxury Real Estate • Receiver of the Louis R Hardy Jr. Award by the Coronado Chamber of Commerce for significant business and Civic contributions to the City of Coronado CA BRE #01281432

The Ultimate Coronado Real Estate Guide—April 2016

We have 8 exclusive private sale opportunities that are not currently public! They range from 2 to 5+ bedrooms and 1 to 5+ bathrooms. Contact us now to find out more!

Selling Your Home in Coronado? Have your home listed by our local real estate team and have your property featured in our monthly buyers guide. Your listing will have the exclusive advantage of being showcased to over 500,000 discerning guests annually, plus local Coronado residents.

Del Coronado Realty 1500 Orange Avenue Coronado, California 92118 619.437.1888 DelCoronadoRealty.com CA BRE# 01909797

Data from SANDICOR, Inc. for March 30, 2016 and represents properties listed or sold by various brokers. If your property is currently listed this is not meant as a solicitation. Contact Us Todayâ&#x20AC;&#x201D;619.437.1888 | DelCoronadoRealty.com