Downtown & Metro San Diego
January | February 2014
PROVIDING A LIFEST YLE, NOT JUST AN ADDRESS. Represented Over 45 Discovery @ Cortez Hill Transactions Since 2002 Listing and selling condos in this building is especially important to me and I am committed to my clients to give the best service possible. As an original owner from 2002 to 2007, I have grown fond of the location, residents and lifestyle Discovery @ Cortez Hill has to offer! In today’s market you need an agent that demonstrates expertise and confidence throughout the entire transaction. I offer my clients the knowledge, upscale marketing, and negotiating skills to get YOUR CONDO SOLD!
92101 CONDOS PRICE/SQFT IN THE LAST 30 DAYS
BED BATH SQFT LP
HIGH
2 3
LOW
0 1 483 $240,000 $310.61 $220,000 $288.24 2
AVERAGE 1
1
MEDIAN 2 2
LP/SQFT SP
SP/SQFT DOM
2,610 $1,770,000 $991.04 $1,680,000 $940.65 174
1,133 $602,223 $513.96 $579,361
$495.24 48
1,067 $459,450 $503.41 $450,000 $485.87 35
Sleek and Simple
This graph demonstrates how strong our real estate market currently is. With the average house selling at 96% of asking price and only on the market for 46 days now is the time to buy or sell your home.
DO NOT HESITATE TO MAKE YOUR MOVE TO ENSURE YOU GET TOP DOLLAR FOR YOUR PROPERTY OR FIND YOUR DREAM HOME!
The New Minimal
Want your Discovery @ CortezHill property to be our next cover home?
Call Carolyn for the most effective marketing to sell your Condo! All information is deemed reliable but not guaranteed. The homes included are listed and sold by various brokers, based on information from the MLS.
Building Wealth
WWW.BOWHAYPROPERTIES.COM
619.944.5478 Direct/Mobile | 619.501.5557 Office | 619.298.6683 Fax
What’s in your Real Estate Portfolio?
President & Broker-Owner CRS | GRI | e-PRO CalBRE #01264830
BOWHAY PROPERTIES, INC. 1355-A 6th Ave. San Diego, CA 92101 Carolyn@BowhayProperties.com If your home is currently listed, this is not a solicitation for that listing. CA DRE License #01264830
Produced by UpscaleRealEsateMarketing.com • 877.660.0996
Cover Photography | Calvis Wyant
CAROLYN BOWHAY WHALEN
Searsucker’s Succulent
Mushroom + Burrata on French Toast
Discovery@ Cortez Hill Real Estate Report
Presented By Carolyn Bowhay Whalen
In Good Taste
Psst! In case you didn’t hear, there’s a shift happening in home décor. Clean lines, lighter and airier colors, and a more modern look are taking center stage in today’s luxury homes. Of course, we still love our regional design flair, but current hip homes are lightening up and going minimalistic. Homeowners that shy away from the word modern, however, need not be dismayed by today’s contemporary take on home design and furnishings. The style is minimalistic but not completely stripped bare. We’re not talking hard plastic chairs and chrome fixtures. Today’s new modern chairs and sofa silhouettes, for example, are still comfortable but are sleek and simple. Upholstery is elegant and soft, or bright and geometric. You will definitely see a love of patterned and geometric furniture, drapes, and area rugs in today’s fresh new interiors. When it comes to color, the familiar earthy tans and greens, terracotta rusts, and mustard yellows, though still popular in a regional sense, are making way for crisp and more contrasting hues. Think soft blues, whites, creams, grays, and browns which bring a clean and fresh look to tired spaces. (It’s no surprise that top paint company Benjamin Moore has named A Breath of
Searsucker 619.233.7327 | Searsucker.com
MUSHROOM AND BURRATA ON FRENCH TOAST INGREDIENTS: MUSHROOM MIXTURE 1 to 2 tbsp canola oil 1⁄4 lb beech mushrooms, sliced 1⁄4 lb shiitake mushrooms, sliced 1⁄4 lb cremini mushrooms, sliced 1 tbsp fresh garlic, finely minced 1 tbsp shallot, finely minced 1⁄2 tsp fresh thyme, finely minced 1⁄2 c fresh burrata cheese or fresh mozzarella Truffle oil Fresh chives, minced FRENCH TOAST 4 eggs 1 tsp Worcestershire sauce 1 tsp soy sauce 1 tsp Tabasco sauce 2 pieces thick-cut brioche bread Butter, for frying RECIPE: Mushrooms: In a very hot sauté pan, heat the oil and sauté the mushrooms until they start to brown and give up all their moisture. Add the garlic, shallot, and thyme and sauté until fragrant. Remove from the heat and keep warm. French Toast: In a medium bowl, whisk together the eggs, Worcestershire, soy sauce, and Tabasco. Soak the brioche bread in the mixture for 30 seconds on each side. In a medium-large sauté pan, melt the butter on medium-high heat and cook the toast pieces until both sides are golden brown. Put each piece of toast in the center of a plate and top each with the mushroom mix. Garnish with fresh burrata cheese, a drizzle of truffle oil, and chives. This dish serves 2.
Building Wealth Through Real Estate Investment
Real estate is one of the few investments where the investor may “fall in love” with the asset. Unlike stocks or bonds, real estate has an emotional element to the investment. Therefore, one of the foremost tips for investing in real estate is to listen to what the numbers tell you, rather than the emotional pull of the property. When investing in rental properties, the rental income needs to cover all expenses associated with the property – including taxes and mortgage. In other words, an investment property should pay for itself. As a general guideline, you should try to achieve a gross rent of at least 150% of the property’s mortgage payments to cover all operational costs and leave some net rental income for yourself. Many affluent investors use the cash-on-cash return analysis as a “litmus test” of a rental property investment.
CASH-ON-CASH RETURN = ANNUAL CASH FLOW (BEFORE TAXES)/TOTAL CASH INVESTED If an investor purchased an apartment building and each month the cash flow from rentals, less expenses, is $5,000. Over the course of a year, the before-tax income would be $60,000 and if their cash invested (down payment) in the property totaled $300,000, cash-on-cash return is equal to 20%.
Savvy investors look for 20% - 30% cash-on-cash return before considering investing in a property. A big plus is that the return is immediate cash in your pocket and the property may still appreciate on top of that return. In addition, the investor needs to consider how much time the property will take to manage. Some properties, such as vacation and college rentals, just require way too much time and management to make them smart investments. Well maintained properties rented for as long as possible to decent credit profile tenants usually take the least time to manage. Compared to other investments, real estate is easy to value. Even if you have no idea how to value a property, you can find a Realtor who can value it for you. Typically there are a lot of comparable properties to use to value real estate so the investor knows what the investment property is worth and what should be spent for the property. There are many below market properties that an investor can find. Not only can you purchase a property below market price, you can add value to the property once you purchase it. You can also add bedrooms, add bathrooms, update a kitchen or do many other things to increase value of the real estate. It simply is not possible for an individual investor to add a bedroom onto a stock. Therefore, real estate should be an important part of your investment portfolio.
Fresh Air, a pale powdery blue, its 2013 Paint Color of the Year!) The effect? Simple elegance. But not everything is serene. Look for lively yellows to brighten spaces ...and brighten your mood. Shocks of patterned cobalt blue, say in a few occasional chairs or throw pillows, will also enliven this more contemporary style of living. In the kitchen, look for white and dark brown or black motifs. Counters are stocked with essential tools only, left bare and easy to clean. Kitchen knick-knacks and purely decorative items are sparse, with new homeowners opting for a clean and understated look. Cabinets themselves are now often painted, with whites and creams lending kitchens an entirely fresh new look. Distressed wood is also popular, giving a unique and individualist vibe to homes. Perhaps the biggest shift in interior design for the New Year: Individuality. Homeowners are looking for handmade, unique items that don’t look exactly the same as all the other homes on the block. Seek out different pieces that speak to you and make you happy in your home. Sounds like a great way to start the New Year!
Event Calendar JANUARY | FEBRUARY 2014 Fiddler on the Roof Lyceum Theatre | January 10-February 2 619.437.6000 | LambsPlayers.org LAMB’S stunning production of this great musical returns for a limited run at a new theatre! The tale of Tevye the milkman and his daughters from the popular stories of Sholem Aleichem, became one of the world’s greatest musicals. Featuring memorable songs like “Tradition”, “If I Where A Rich Man”, “Sunrise, Sunset”, and “To Life!”. This fresh, stirring and joyous production, draws on the fascinating musical tradition of the Klezmer band, with powerful dance numbers and an amazing cast of actorsinger-dancers. Farmers Insurance Open 2014 Torrey Pines Golf Course | January 20-26 858.535.4500 |FarmersInsuranceOpen.com The Farmers Insurance Open, San Diego’s prestigious annual PGA Tour golf tournament, is played at Torrey Pines Golf Course. Defending champion is Tiger Woods who has won the championship seven times. The Farmers Insurance Open consistently attracts a world-class field. Other past champions include Phil Mickelson (three-time winner), Bubba Watson (Masters Champion), and Brandt Snedeker (FedExCup champion). The English Concert St. James By-the-Sea | January 26 619.291.8246 | SDEMS.org The English Concert is simply unparalleled. Directed since 2007 by Harry Bicket and includes the baroque repertoire that is TEC’s specialty, including suites and concertos of J.S. Bach and Telemann, and features flutes, horns, oboes, oboe d’amore, and trumpet as well as strings, culminating in a suite from Rameau’s spectacular Les Boréades. Come and savor the extravagantly baroque sound of The English Concert! “The Love Train” Valentines Wine Tour San Diego Coast | February 1-28 858.551.5115 | SDBeerWine.com Sip fine wines while enjoying a romantic train ride. Enjoy breathtaking coastal scenery as you ride up and down the San Diego coast. Partake in guided historic strolls as we get on and off the train for lunch and tastings at the local wineries. Tour includes guided historic walks, totaling 2 miles in length, and roughly 15 minute jaunts at a time. Beer tasting options available too. 18th Annual San Diego Bird Festival Marina Village Conference Center | February 27- March 2 858.273.7800 | SanDiegoAudubon.org Festival headquarters, overlooking a picturesque marina, is just steps away from San Diego’s species-rich San Diego River estuary. From sea to desert to mountaintop, San Diego County has a lot of birding to offer, with more than 500 species. The birding area encompasses diverse habitats ranging from desert to mountains, shore to coastal wetlands, urban and suburban. We’ll even go birding by bicycle and kayak. The exhibition area will be open to the public from 1 to 4 pm daily, February 27th through March 2nd.
In Good Taste
Psst! In case you didn’t hear, there’s a shift happening in home décor. Clean lines, lighter and airier colors, and a more modern look are taking center stage in today’s luxury homes. Of course, we still love our regional design flair, but current hip homes are lightening up and going minimalistic. Homeowners that shy away from the word modern, however, need not be dismayed by today’s contemporary take on home design and furnishings. The style is minimalistic but not completely stripped bare. We’re not talking hard plastic chairs and chrome fixtures. Today’s new modern chairs and sofa silhouettes, for example, are still comfortable but are sleek and simple. Upholstery is elegant and soft, or bright and geometric. You will definitely see a love of patterned and geometric furniture, drapes, and area rugs in today’s fresh new interiors. When it comes to color, the familiar earthy tans and greens, terracotta rusts, and mustard yellows, though still popular in a regional sense, are making way for crisp and more contrasting hues. Think soft blues, whites, creams, grays, and browns which bring a clean and fresh look to tired spaces. (It’s no surprise that top paint company Benjamin Moore has named A Breath of
Searsucker 619.233.7327 | Searsucker.com
MUSHROOM AND BURRATA ON FRENCH TOAST INGREDIENTS: MUSHROOM MIXTURE 1 to 2 tbsp canola oil 1⁄4 lb beech mushrooms, sliced 1⁄4 lb shiitake mushrooms, sliced 1⁄4 lb cremini mushrooms, sliced 1 tbsp fresh garlic, finely minced 1 tbsp shallot, finely minced 1⁄2 tsp fresh thyme, finely minced 1⁄2 c fresh burrata cheese or fresh mozzarella Truffle oil Fresh chives, minced FRENCH TOAST 4 eggs 1 tsp Worcestershire sauce 1 tsp soy sauce 1 tsp Tabasco sauce 2 pieces thick-cut brioche bread Butter, for frying RECIPE: Mushrooms: In a very hot sauté pan, heat the oil and sauté the mushrooms until they start to brown and give up all their moisture. Add the garlic, shallot, and thyme and sauté until fragrant. Remove from the heat and keep warm. French Toast: In a medium bowl, whisk together the eggs, Worcestershire, soy sauce, and Tabasco. Soak the brioche bread in the mixture for 30 seconds on each side. In a medium-large sauté pan, melt the butter on medium-high heat and cook the toast pieces until both sides are golden brown. Put each piece of toast in the center of a plate and top each with the mushroom mix. Garnish with fresh burrata cheese, a drizzle of truffle oil, and chives. This dish serves 2.
Building Wealth Through Real Estate Investment
Real estate is one of the few investments where the investor may “fall in love” with the asset. Unlike stocks or bonds, real estate has an emotional element to the investment. Therefore, one of the foremost tips for investing in real estate is to listen to what the numbers tell you, rather than the emotional pull of the property. When investing in rental properties, the rental income needs to cover all expenses associated with the property – including taxes and mortgage. In other words, an investment property should pay for itself. As a general guideline, you should try to achieve a gross rent of at least 150% of the property’s mortgage payments to cover all operational costs and leave some net rental income for yourself. Many affluent investors use the cash-on-cash return analysis as a “litmus test” of a rental property investment.
CASH-ON-CASH RETURN = ANNUAL CASH FLOW (BEFORE TAXES)/TOTAL CASH INVESTED If an investor purchased an apartment building and each month the cash flow from rentals, less expenses, is $5,000. Over the course of a year, the before-tax income would be $60,000 and if their cash invested (down payment) in the property totaled $300,000, cash-on-cash return is equal to 20%.
Savvy investors look for 20% - 30% cash-on-cash return before considering investing in a property. A big plus is that the return is immediate cash in your pocket and the property may still appreciate on top of that return. In addition, the investor needs to consider how much time the property will take to manage. Some properties, such as vacation and college rentals, just require way too much time and management to make them smart investments. Well maintained properties rented for as long as possible to decent credit profile tenants usually take the least time to manage. Compared to other investments, real estate is easy to value. Even if you have no idea how to value a property, you can find a Realtor who can value it for you. Typically there are a lot of comparable properties to use to value real estate so the investor knows what the investment property is worth and what should be spent for the property. There are many below market properties that an investor can find. Not only can you purchase a property below market price, you can add value to the property once you purchase it. You can also add bedrooms, add bathrooms, update a kitchen or do many other things to increase value of the real estate. It simply is not possible for an individual investor to add a bedroom onto a stock. Therefore, real estate should be an important part of your investment portfolio.
Fresh Air, a pale powdery blue, its 2013 Paint Color of the Year!) The effect? Simple elegance. But not everything is serene. Look for lively yellows to brighten spaces ...and brighten your mood. Shocks of patterned cobalt blue, say in a few occasional chairs or throw pillows, will also enliven this more contemporary style of living. In the kitchen, look for white and dark brown or black motifs. Counters are stocked with essential tools only, left bare and easy to clean. Kitchen knick-knacks and purely decorative items are sparse, with new homeowners opting for a clean and understated look. Cabinets themselves are now often painted, with whites and creams lending kitchens an entirely fresh new look. Distressed wood is also popular, giving a unique and individualist vibe to homes. Perhaps the biggest shift in interior design for the New Year: Individuality. Homeowners are looking for handmade, unique items that don’t look exactly the same as all the other homes on the block. Seek out different pieces that speak to you and make you happy in your home. Sounds like a great way to start the New Year!
Event Calendar JANUARY | FEBRUARY 2014 Fiddler on the Roof Lyceum Theatre | January 10-February 2 619.437.6000 | LambsPlayers.org LAMB’S stunning production of this great musical returns for a limited run at a new theatre! The tale of Tevye the milkman and his daughters from the popular stories of Sholem Aleichem, became one of the world’s greatest musicals. Featuring memorable songs like “Tradition”, “If I Where A Rich Man”, “Sunrise, Sunset”, and “To Life!”. This fresh, stirring and joyous production, draws on the fascinating musical tradition of the Klezmer band, with powerful dance numbers and an amazing cast of actorsinger-dancers. Farmers Insurance Open 2014 Torrey Pines Golf Course | January 20-26 858.535.4500 |FarmersInsuranceOpen.com The Farmers Insurance Open, San Diego’s prestigious annual PGA Tour golf tournament, is played at Torrey Pines Golf Course. Defending champion is Tiger Woods who has won the championship seven times. The Farmers Insurance Open consistently attracts a world-class field. Other past champions include Phil Mickelson (three-time winner), Bubba Watson (Masters Champion), and Brandt Snedeker (FedExCup champion). The English Concert St. James By-the-Sea | January 26 619.291.8246 | SDEMS.org The English Concert is simply unparalleled. Directed since 2007 by Harry Bicket and includes the baroque repertoire that is TEC’s specialty, including suites and concertos of J.S. Bach and Telemann, and features flutes, horns, oboes, oboe d’amore, and trumpet as well as strings, culminating in a suite from Rameau’s spectacular Les Boréades. Come and savor the extravagantly baroque sound of The English Concert! “The Love Train” Valentines Wine Tour San Diego Coast | February 1-28 858.551.5115 | SDBeerWine.com Sip fine wines while enjoying a romantic train ride. Enjoy breathtaking coastal scenery as you ride up and down the San Diego coast. Partake in guided historic strolls as we get on and off the train for lunch and tastings at the local wineries. Tour includes guided historic walks, totaling 2 miles in length, and roughly 15 minute jaunts at a time. Beer tasting options available too. 18th Annual San Diego Bird Festival Marina Village Conference Center | February 27- March 2 858.273.7800 | SanDiegoAudubon.org Festival headquarters, overlooking a picturesque marina, is just steps away from San Diego’s species-rich San Diego River estuary. From sea to desert to mountaintop, San Diego County has a lot of birding to offer, with more than 500 species. The birding area encompasses diverse habitats ranging from desert to mountains, shore to coastal wetlands, urban and suburban. We’ll even go birding by bicycle and kayak. The exhibition area will be open to the public from 1 to 4 pm daily, February 27th through March 2nd.
Downtown & Metro San Diego
January | February 2014
PROVIDING A LIFEST YLE, NOT JUST AN ADDRESS. Represented Over 45 Discovery @ Cortez Hill Transactions Since 2002 Listing and selling condos in this building is especially important to me and I am committed to my clients to give the best service possible. As an original owner from 2002 to 2007, I have grown fond of the location, residents and lifestyle Discovery @ Cortez Hill has to offer! In today’s market you need an agent that demonstrates expertise and confidence throughout the entire transaction. I offer my clients the knowledge, upscale marketing, and negotiating skills to get YOUR CONDO SOLD!
92101 CONDOS PRICE/SQFT IN THE LAST 30 DAYS
BED BATH SQFT LP
HIGH
2 3
LOW
0 1 483 $240,000 $310.61 $220,000 $288.24 2
AVERAGE 1
1
MEDIAN 2 2
LP/SQFT SP
SP/SQFT DOM
2,610 $1,770,000 $991.04 $1,680,000 $940.65 174
1,133 $602,223 $513.96 $579,361
$495.24 48
1,067 $459,450 $503.41 $450,000 $485.87 35
Sleek and Simple
This graph demonstrates how strong our real estate market currently is. With the average house selling at 96% of asking price and only on the market for 46 days now is the time to buy or sell your home.
DO NOT HESITATE TO MAKE YOUR MOVE TO ENSURE YOU GET TOP DOLLAR FOR YOUR PROPERTY OR FIND YOUR DREAM HOME!
The New Minimal
Want your Discovery @ CortezHill property to be our next cover home?
Call Carolyn for the most effective marketing to sell your Condo! All information is deemed reliable but not guaranteed. The homes included are listed and sold by various brokers, based on information from the MLS.
Building Wealth
WWW.BOWHAYPROPERTIES.COM
619.944.5478 Direct/Mobile | 619.501.5557 Office | 619.298.6683 Fax
What’s in your Real Estate Portfolio?
President & Broker-Owner CRS | GRI | e-PRO CalBRE #01264830
BOWHAY PROPERTIES, INC. 1355-A 6th Ave. San Diego, CA 92101 Carolyn@BowhayProperties.com If your home is currently listed, this is not a solicitation for that listing. CA DRE License #01264830
Produced by UpscaleRealEsateMarketing.com • 877.660.0996
Cover Photography | Calvis Wyant
CAROLYN BOWHAY WHALEN
Searsucker’s Succulent
Mushroom + Burrata on French Toast
Discovery@ Cortez Hill Real Estate Report
Presented By Carolyn Bowhay Whalen