For over 30 years, the members of the Nelson Riddle Team have been providing exceptional real estate services to clients throughout San Diego County. Fueled by their collective passion for real estate, Jim, Debbie, Kilee, Delira, Fevin, and Amanda bring an inextinguishable vigor to helping people achieve the dream of real estate investment and/or homeownership. The Nelson Riddle Team is always at the forefront of the Coronado and San Diego real estate markets, integrating distinctive marketing strategies with stellar client service. The Nelson Riddle Team is proud and humble to have a reputation as a Top Producing Team in San Diego and consistently ranks within the top 1% of local and national sales charts.
that transcend generations. Results
who We Are
jim nelson
Fueled by his passion for investment real estate and a desire to help people obtain the dream of home ownership, Jim earned his license in 2008. In 2010 he teamed up with Debbie Riddle and, since then, he has successfully leveraged his degree in psychology from UC Santa Barbara and his customer service credentials to help every client achieve their real property goals. Held in high regard in the community and among his peers, Jim drives the Nelson Riddle Team and is excited to meet you and help you buy or sell today.
debbie riddle
Licensed since 1977, Debbie Riddle is a second generation REALTOR® who found her passion for serving people by working for her father, Lee Mather, at his real estate brokerage from the young age of 14. Having participated in leadership positions in her profession, Debbie has served as Director and President at the California Association of REALTORS® and President of her local association in 1998 & 2002. After over 25 years, representing hundreds of buyers and sellers, Debbie finds joy in being a valued resource working with her clients and building lasting relationships.
kilee waller
Kilee Waller, our Project Director, came highly recommended to the Nelson Riddle Team in the early part of 2019. As a fully licensed agent, Kilee has helped clients buy and sell homes since 2005 and has over 1,500-plus transactions under her belt as an Office Coordinator and Transaction Manager. With real estate in her blood, Kilee has been around the industry for many years, working in nearly every aspect of the business from property management, commercial, mortgage and accounting, to office administration. But it’s not just her level of knowledge that is so impressive; Kilee’s high energy, bright smile, and quirky sense of humor make her a wonderful person to work with and be around.
Fevin Reyes
Fevin was born and raised in Chicago from immigrant parents from the Philippines. At 43, he and his wife Myleen moved their family to Coronado. Fevin was a top 1% producer in Chicago Association of Realtors for over 15 years, former owner of the Red Era Realty companies, former co-owner of RE/MAX Vision 212, master faculty at Keller Williams, Dave Ramsey Endorsed Local Provider of real estate for over 8 years and Coronado Real Estate Association Board member for 3 years. He has the most humbling perspectives on life, liberty, and the pursuit of happiness as a stroke survivor. High ethics, working by referral, personal growth and having fun makes joining the Nelson Riddle Team a thing of beauty!
Delmira Sumner
Delmira is a proud long-term resident of the beautiful San Diego area, Coronado, and an alumnus of the University of San Diego. Delmira’s academic journey led her to pursue majors in Communications and Business Administration, equipping her with the skills needed to excel in the business-to-business sales industry. While her professional background lies in sales, her true passion lies in real estate. Combined with her extensive knowledge of the local market, Delmira is confident that she is the ideal partner to assist you in either buying or selling your home. Her approach to business is founded on effective communication, unwavering dedication, and utmost transparency. Moreover, being bilingual and bicultural, having grown up in this vibrant international border city, she is able to bridge cultural gaps and cater to a diverse
clientele. With the addition of Delmira, The Nelson Riddle team represents a growing force to be reckoned with in the Coronado and San Diego real estate markets. We are able to serve all of our client’s real estate needs on and off the island, and beyond with our extensive referral network. We continue to source 90% of our business through repeat and referral business and are excited to meet and discuss your real estate needs with you today!
AMANDA RUSSELL
Amanda is thrilled to align herself with a respected industry expert, Jim Nelson, and the Nelson Riddle Team at Coldwell Banker West. With a focus on the Coronado market, Amanda is poised to leverage her years of experience in understanding clients’ needs, cultivating relationships, and delivering exceptional results at a high level to help anyone she knows realize their dream of buying or selling a home in Coronado or San Diego. “I am excited to join Jim and the Nelson Riddle Team and Coldwell Banker West,” says Amanda. “This transition represents not just a career shift but a continuation of my unwavering dedication to excellence and client satisfaction. I am committed to bringing personalized service, attention to detail, and a passion for exceeding
expectations to the real estate market, ensuring that my clients’ dreams of homeownership become a reality.” Amanda’s decision to join the Nelson Riddle Team of Coldwell Banker West underscores her commitment to serving her community and delivering exceptional results. With her proven track record of success and passion for excellence, Amanda Russell is set to redefine the standard of service in the Coronado and San Diego real estate markets.
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our clientReviews
A referral from a past client in the highest compliment one can receive in our business. Here are a few that we have received from past satisfied clients.
“Never have we experienced the level of service and professional knowledge we enjoyed with Debbie and Jim.”
“Jim Nelson from the Nelson Riddle Team did an excellent job helping us find a condo for investment purposes in downtown San Diego this summer. Jim was and is very knowledgeable about the market and available choices, besides being friendly and personable, e.g. picking us up from the airport since we are not local to San Diego. In the span of two days, he efficiently showed us a good spectrum, enabling us to find a condo we really liked. When a counter offer came in response to our initial offer, Jim talked to the seller’s agent to find out the kind of terms which would make our offer stand out, and this enabled us to counter and finally secure the purchase. During the entire process, Jim was not overly pushy but stayed persistent and responsive to our questions and handling the paperwork expertly. I recommend Jim highly as a realtor who can help you find your condo/house like he helped us.”
“We had a great experience selling our home with Kilee. She was available to us to answer all our questions and concerns throughout the entire process. The team was professional and effective at selling our home. We highly recommend the Nelson Riddle Team!”
“Jim Nelson and Kilee Waller from the Nelson riddle team did an excellent job in executing the sale of my Condo. Word of mouth recommendations are the strength of a real estate team and that is how I came to know this team. I was kept informed during the whole process and all of my request were responded to immediately. The transactions were smooth and processed as committed. I would recommend the Nelson Riddle Team to anyone for your real estate needs. Thanks for the successful sale during an unsettling time.”
“I’ve worked with Jim Nelson for over five years to find the right replacement residence. We had many hits and misses and after five years of trying we finally found the right one. He never gave up on me. ! His expertise on pricing and negotiations in Coronado were so helpful. I’d recommend him and the Nelson Riddle team to anyone.”
90% of our business is by referral
“Throughout the process the Nelson Riddle team most certainly proved their worth.”
“We were very lucky to have Jim and Debbie representing us in our home purchase. We met Jim through a referral and from the day of our first meeting to our date of closing was only 53 days. We had a very specific set of needs and Jim knew immediately which house on the market would work for us. Once our offer was accepted, our transaction encountered a number of challenging circumstances along the way, on both the buyer and seller side, and Jim was able to keep the process moving and on course. At every step of the way it was clear that Jim’s focus was working toward our best interest. I was very impressed with his knowledge and work ethic and would definitely recommend the Nelson Riddle team to anyone in need of Real Estate expertise.”
“They are excellent realtors and, perhaps more importantly, great people.”
“Jim Nelson helped me find my townhouse condo. He showed me A LOT of properties while I was staying in Coronado in early spring of 2020 but then the pandemic struck and I returned home to the east coast putting my Coronado dream on hold. A couple months later, a “Goldilocks perfect-for-me” property came on the market that he thought I’d be interested in. Jim contacted me and quickly arranged to see it the next day. He FaceTime’d the tour for me, we made an offer amidst other competing offers, and then he successfully navigated the Seller’s counter-offer. Jim provided calm, sound advice, and was available and helpful throughout for all questions and issues. He also referred a home inspector and an escrow agency, both were excellent. He even arranged to get a quote from a plumber for a suggested repair and negotiated a purchase price reduction to cover it. Jim effectively facilitated the whole transaction so that even though I was 3000 miles away and never saw the property in person, the entire process was smooth and easy. Need I say anything more? I highly recommend Jim Nelson.”
“Highly recommend this team, especially to first-time buyers who need an expert they can trust!”
“When shopping for a home in Coronado/San Diego I highly suggest working with the Nelson Riddle team. I worked Jim Nelson for over 6 years looking for the perfect place that would accommodate my budget and check all the boxes. I really can’t believe he actually kept taking my calls? He never pressured me, and it never seemed like he was getting aggravated with my almost buys. After the sale he has become a great resource for any questions and all in all just a great guy. When looking start with Jim, then make your decision.”
“70+ years of family history in Coronado. The realtors in town are well known. When my family has real estate needs we have many great choices. But Jim Nelson is the one we choose, every time. He is supersmart, easy to work with, and extremely experienced in the Coronado market. He delivers the best possible results every time.”
island and metro Selling
HISTORICAL SALES VOLUME
$506+ MILLION
The Nelson Riddle Team prides itself on being Coronado and San Diego experts and skilled navigators of real estate negotiations. We are here to serve you wherever your real estate needs take you,including out of state and globally. We belong to a REALTOR® Referral Network and can help you connect with a skilled professional wherever you go.
*Based on total sales volume of all team members, pulled from Sandicor Multiple Listing Service.
notable sales
$10,500,000 - 731 ADELLA AVE
$7,200,000 - 609 OCEAN BLVD
$5,250,000 - 501 COUNTRY CLUB
$4,500,000 - 18810 OLYMPIC PT
$3,800,000 - 600 FIRST STREET
$3,650,000 - 739 GOLDEN PARK
$3,494,000 - 425 ALAMEDA BLVD
$2,270,430 - 3624 ROBINSON MEWS
$1,850,000 - 3702 ALBATROSS ST
$1,850,000 - 5206 SOLEDAD RD
$1,780,000 - 4175 NORFOLK TER
$1,615,000 - 6088 BOUNTY
$1,512,500 - 767 B AVE
$1,462,500 - 1756 CIRCO DEL CIELO
multi-unit sales
$6,900,000 - 1010 A AVE: 18 UNITS
$5,600,000 - 750-756 E AVE: 5 UNITS
$4,480,000 - 3225-3233 ADAMS AVE: 5 UNITS
$1,675,000 - 1225 THIRD AVE: 10 UNITS
$1,650,000 - 1129-33 26TH ST: 5 UNITS
$1,600,000 - 245 CHURCH: 11 UNITS
$1,512,500 - 2129-2131 B ST: 4 UNITS
$1,500,000 - 263 D AVE: 6 UNITS
$1,401,000 - 2828-2838 STATE ST: 3 UNITS
$1,300,000 - 4626-4628 EDENVALE AVE: 2 UNTS
$1,216,000 - 1213 GROVE: 5 UNITS
$1,117,500 - 213-215 EVERGREEN: 3 UNITS
$1,080,000 - 3345 HERMAN AVE: 8 UNITS
SUPPORT invaluable
As a Coldwell Banker® affiliated buyer’s agent, we offer five essentials throughout the home-buying transaction:
EXPERIENCED, PROFESSIONAL GUIDANCE:
Navigating the complex terrain of real estate transactions requires guidance from an experienced real estate professional like myself. I will meet with you to discuss your needs, goals, and to plan your property search, and I can help you get pre- approved for a loan and establish your budget. Throughout your home-buying journey, I can offer insights on local market trends to help you make informed decisions with confidence. You can also benefit from my extensive sphere to connect with additional service professionals for property inspections, financing, title, home warranty and more.
LOCAL MARKET KNOWLEDGE:
I am here to serve as your local market guide. I have a deep understanding of local market trends, pricing dynamics and neighborhood nuances, which enable me to provide valuable insights into property values and investment potential. Throughout your home search process, I will show you properties that meet your criteria and keep you informed as new properties hit the market.
TIME-SAVING CONVENIENCE:
The home-buying process can be time-consuming and at times overwhelming, especially for busy individuals. I am here to streamline the process, saving you valuable time and effort. I can handle the research and coordinate offers, inspections, property viewings and more, allowing you to focus on other priorities. I also have access to unique technology and resources to expedite the search process, ensuring you find your dream home in a timely manner. Additionally, I have established relationships with other professionals involved in the transaction, such as inspectors and lenders, to keep the process moving smoothly.
NEGOTIATION SKILLS:
Negotiating the terms of a real estate transaction requires a delicate balance of skill and strategy, and I’m here to be your advocate during these final stages of the home-buying journey. I bring shrewd negotiation experience to the table, working tirelessly to secure the best possible deal for you. I will advocate on your behalf, using my knowledge of the market and current trends to negotiate price, contingencies and other terms of the contract. My goal is to ensure you get the most value for your investment while maintaining a positive and professional relationship with the seller.
PEACE OF MIND:
Buying a home is a significant investment, both financially and emotionally. Perhaps the most valuable service I can provide, I’ll help alleviate the stress and uncertainty of the home-buying process by offering support and guidance every step of the way. I’ll address your concerns, answer your questions and help you navigate any unexpected challenges calmly and professionally. Knowing that you have a knowledgeable and experienced professional like me by your side can make all the difference in your home-buying journey.
step stepby
1. ASSESS YOUR FINANCES
• Obtain mortgage pre-approval
• Discuss your new home wants and needs
• Set a budget and save for a down payment
2. PREPARE TO BUY
• Sign Buyer’s Agent Agreement
• Select properties to view
3. HOUSE HUNTING
• Research neighborhoods
• View properties
4. MAKE AN OFFER
• Write an offer to purchase
• Negotiate terms with the seller
5. SECURE FINANCING
• Obtain mortgage financing
• Lock in your interest rate
• Obtain homeowners insurance
• Order the appraisal
6. PROPERTY ASSESSMENT
• Conduct home inspections
• Resolve inspection issues with seller
7. PREPARE FOR CLOSING
• Obtain title insurance
• Obtain funds for closing
8. CLOSE THE DEAL
• Review and sign closing documents
• Pay closing costs move in!
your partners in the process
When you choose us to represent you, you’ll have someone by your side every step of the way, giving you the insights and information you need to have confidence in your decision.
we will:
• Meet with you to discuss your needs and goals, and to plan your property search
• Help you get pre-approved and establish your budget
• Show you properties that meet your criteria
• Keep you informed of new properties that come on the market
• Work with you to help you find the right home
• Help you determine your offer
• Negotiate the offer and contract in your best interests
• Facilitate the home inspection and resolution process
• Prepare you for closing and the associated costs
• Keep you updated on the progress of your transaction every step of the way
we will keep you updated ...every step of the way!
pre-approval The power of
WHY PRE-APPROVAL MATTERS
The first step in any home search is finding out exactly how much home you can afford and securing the financing to make the purchase. While you can get a rough estimate through prequalification, taking the extra step to obtain pre-approval will give you some added advantages.
PRE-APPROVAL HELPS YOU:
• Understand your financial condition
• Know exactly how much home you can afford before you begin your home search
• Strengthen your purchasing power when making an offer
When you find a home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you’re serious and fully prepared to buy their home, putting you in a stronger position than other potential buyers.
THE PRE-APPROVAL process
Here are some of the documents that you will need to provide your lender to get the pre-approval process started:
• Tax returns, usually for last two years income
• Current pay stubs, usually for last two months
• W-2s or 1099s, usually for last two years
• Net worth of businesses owned (if applicable) assets
• Bank statements
• Investments/brokerage firm statements
• Credit card statements
• limony/child support payments (if applicable) debts
• Loan statements
your homesearch
my website
The first stop on your home search?
My website. Not only is it an easy way to check out all the available properties in your preferred area, it’s also another way for me to get to know the types of properties that you like.
And thanks to its responsive design, you can do it all from your mobile device, tablet or desktop! WITH NELSONRIDDLETEAM.COM , YOU CAN:
• Search all available MLS listings in your preferred location, based on preferences you specify
• See the results of your search in map or list view. Look at multiple images and read full details about properties that interest you
• Share your favorite properties with your friends via email or social media
• Learn more about the home-buying process
• Easily conduct your search from your mobile device, tablet or desktop through the site’s responsive design
• Use the Coldwell Banker® Move Meter®, ranked the #1 most useful tool in real estate*, to get a side-by- side comparison of the cost of living, quality of life and even job market strength for your hometown vs. cities across the U.S.
PREFERENCES Home
ARCHITECTURAL STYLE
SWIMMING POOL
DECK/PATIO
GARAGE
LAKEFRONT
FLOOR PLAN –
SIZES BEDROOMS
making anoffer
There are many factors that influence the market value of a home. I will give you the insight and information you need to make an offer you’re comfortable with. Some of the factors to consider include:
• How long the home has been on the market
• If the price has been reduced
• How much the home is worth – I will provide a comparable market analysis (CMA) showing the list and sale prices for similar homes in your area
• If there are multiple offers
• Other items that might be included in the sale (furniture, hot tub, etc.)
• The “list to sale price ratio,” an indication of how competitive the market is for homes in this area
• Why the seller is selling
• Whether the seller is offering an assumable loan or financing
Once the offer is written, I will present it to the seller’s agent. At that point the seller can accept your offer, reject it or counter it to start the negotiation process. I will work with you to plan a strategy to ensure the most advantageous terms and acceptable pricing for you and your budget.
closing onyour home
Once your offer has been accepted, the closing process begins. Here are some of the typical steps involved.
HOME INSPECTION:
Most property sales are contingent on the results of a home inspection, which is paid for by the buyer. The inspection typically occurs within 10 days of offer acceptance, and includes a review of the home’s exterior elements like the roof, siding, trim and windows, as well as kitchen and bathroom fixtures and appliances, and major systems like heating and cooling, plumbing and electrical. If defects are discovered during the inspection, you may exercise the remedy described in your offer or negotiate with the seller to determine what repairs will be made.
TITLE SEARCH :
This is a historical review of all legal documents relating to ownership of the property to ensure that there are no claims against the title of the property. It is also recommended that you purchase title insurance in case the records contain errors or there are mistakes in the review process.
APPRAISAL:
As a standard part of the mortgage process, your lender will order an appraisal report to ensure that the loan will be guaranteed by the home’s value.
FINAL WALK-THROUGH:
If it’s requested in the contract, you’ll be given the chance to look at the home to make sure it’s in the same condition as when you signed the sales agreement.
CLOSING COSTS:
In addition to your deposit and down payment, there are a variety of other costs involved in closing, including:
• Loan origination fees, appraisals and reports
• Surveys and inspections
• Mortgage insurance
• Hazard insurance
• Taxes
• Assessments
• Title insurance, notary and escrow fees
• Recording fees and stamps
• Legal fees, if applicable
glossary
ADJUSTABLE RATE MORTGAGE (ARM): A mortgage with an interest rate that changes over time in line with movements in a financial index. ARMs can also be referred to as AMLs (adjustable mortgage loans) or VRMs (variable rate mortgages).
ADJUSTMENT PERIOD: The length of time between interest rate changes on an ARM. For example, a loan with an adjustment period of one year is called a oneyear ARM, meaning that the interest rate can change once a year.
AMORTIZATION: Repayment of a loan in installments of principal and interest, rather than interest-only payments.
APPRAISAL: An estimate of the property’s value.
ASSESSED VALUE: The value placed on a property for purposes of taxation.
ASSUMPTION OF MORTGAGE: A buyer’s agreement to assume the liability under an existing note that is secured by a mortgage or deed of trust. The lender must approve the buyer in order to release the original borrower (typically the seller) from liability.
BALLOON PAYMENT: A lump sum principal payment due at the end of some mortgages or other long-term loans.
BUY-DOWN: A permanent buy-down is prepaid interest that brings the note rate on the loan down to a lower permanent rate. A temporary buy-down is prepaid interest that lowers the note rate temporarily on the loan, allowing the buyer to more readily qualify and increase payments as income grows.
CAP: The limit on how much an interest rate or monthly payment can change, either at each adjustment or over the life of a mortgage.
CASH RESERVES: The amount of the buyer’s liquid cash remaining after making the down payment and paying all closing costs.
CC&RS OR COVENANTS, CONDITIONS AND RESTRICTIONS: A recorded document that controls the use, requirements and restrictions of a property.
COMMITMENT PERIOD: The period of time during which a loan approval is valid.
CONDOMINIUM: A form of real estate ownership in which
the owner receives exclusive title to a particular unit and shares ownership in certain common areas with other unit owners. The unit itself is generally a separately owned space whose interior surface (walls, floors and ceiling) serve as its boundaries.
CONTINGENCY: A condition that must be satisfied before a contract is binding. For example, a sales agreement or offer may be contingent upon the buyer obtaining financing.
CONVERSION CLAUSE: A provision in some ARMs that enables home buyers to change an ARM to a fixed rate mortgage, usually after the first adjustment period. The new fixed rate is generally set at the prevailing interest rate for fixed rate mortgages. This conversion feature may involve an extra charge.
COOPERATIVE: A form of multiple ownership in which a corporation or business trust entity holds title to a property and grants occupancy rights to shareholders by means of proprietary leases or similar arrangements.
CRB OR CERTIFIED RESIDENTIAL BROKER: To be certified, a broker must be a member of the National Association of REALTORS®, have five years of experience as a licensed broker and have completed required Residential Division courses.
DEBT RATIOS: The comparison of a buyer’s housing costs to his or her gross or net effective income and the comparison of a buyer’s total long-term debt to his or her gross or net effective income. The first ratio is the housing ratio and the second is the total debt ratio.
DEED: A document which, when properly executed and delivered, conveys title of real property.
DISCLOSURE: To make known or public. By law, a seller of real property must disclose facts which affect the value or desirability of the property.
DISCOUNT POINTS: A negotiable fee paid to the lender to secure financing to the buyer. Discount points are interest charges paid up-front to reduce the interest rate on the loan over the life or a portion of the term.
DUE-ON-SALE CLAUSE: A clause that requires a full payment of a mortgage or deed of trust when the secured property changes ownership.
EARNEST MONEY: The portion of the down payment delivered to the seller or escrow agent by the purchaser with a written offer as evidence of good faith.
EASEMENT: A right to use all or part of the land owned by another for a specific purpose. For example, an easement may entitle the holder to install and maintain sewer or utility lines.
ENCUMBRANCE: Anything that affects or limits the ownership of real property, such as mortgages, liens, easements or restrictions of any kind.
EQUITY: The difference between what is owed and the amount for which the property could be sold.
FIXTURES: Personal property that is attached to real property and is legally treated as real property while it is attached – such as light fixtures, window treatments and medicine cabinets.
ESCROW: A procedure in which a third party acts as a stakeholder for both the buyer and the seller, carrying out both parties’ instructions and assuming responsibility for handling all of the paperwork and distribution of funds. An escrow fee, typically paid by the buyer, is charged by the title company to service the transaction and to escrow money and documents.
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC): Often referred to as “Freddie Mac,” it purchases loans from savings and loan lenders within the Federal Home Loan Bank Board.
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA): Popularly known as “Fannie Mae,” it purchases and sells residential mortgages insured by the FHA or guaranteed by the VA, as well as conventional home mortgages.
FEE SIMPLE: An estate in which the owner has unrestricted power to dispose of the property as he or she wishes, including leaving by will or inheritance.
FHA LOAN: A loan insured by the Federal Housing Administration (of the Department of Housing and Urban Development).
FIXED RATE MORTGAGE: A conventional loan with the same interest rate for the life of the loan
FORECLOSURE: The legal process in which mortgaged property is sold to pay the loan of the defaulting borrower.
FULLY INDEXED RATE: The maximum interest rate on an ARM that can be reached at the first adjustment.
GIFT LETTER: A letter from a relative stating that an amount will be gifted to the buyer and that said amount is not to be repaid.
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA): Known as “Ginnie Mae,” a governmental part of the secondary market that deals primarily with recycling VA and FHA mortgages, particularly those that are highly leveraged.
GRADUATED PAYMENT MORTGAGE: A residential mortgage with monthly payments that start at a low level and increase at a predetermined rate.
HOME WARRANTY PLAN: Protection against failure of mechanical systems within the property and usually includes plumbing, electrical, heating and cooling systems and installed appliances.
INDEX: A measure of interest rate changes used to determine changes in an ARM’s interest rate over the term of the loan.
INITIAL INTEREST
RATE: The introductory interest rate on a loan, which signals that there may be rate adjustments later in the loan.
JOINT TENANCY: An equal, undivided ownership of property by two or more persons. Upon the death of any owner, the survivors take the decedent’s interest in the property.
JUMBO LOANS: Mortgage loans that exceed the loan amounts acceptable for sale in the secondary market. Jumbos are packaged and sold differently to investors and have separate underwriting guidelines.
LIEN: A legal hold or claim on a property as security for a debt or charge.
LIST-TO-SALE RATIO: The ratio between the price at which a property is listed and the amount for which it is actually sold.
LOAN COMMITMENT: A written promise to make a loan for a specified amount on specified terms.
MORTGAGE INSURANCE PREMIUM (MIP): The mortgage insurance required on FHA loans for the life of said loan. The MIP is either paid in cash at the time of closing or financed over the course of the loan.
MULTIPLE LISTING SERVICE (MLS): The pooling in a central bureau of all properties for sale. The listings are held individually by members of a group of real estate brokers.
LOAN-TO-VALUE RATIO: The relationship between the amount of the mortgage and the appraised value of the property, typically expressed as a percentage of the appraised value.
LOCK-IN: The fixing of an interest rate or points at a certain level, usually during the loan application process. It is typically fixed for a specified amount of time, such as 20 to 30 days or some other period of time determined by the lender.
MARGIN: The number of percentage points the lender adds to the index rate to calculate the ARM interest rate at each adjustment.
MORTGAGE (DEED OF TRUST): A legal document that provides security for repayment of a promissory note.
NEGATIVE AMORTIZATION: Occurs when monthly payments fail to cover the cost of the interest on a loan. The interest that is not covered is added to the unpaid principal balance, meaning that even after making several payments the borrower could owe more than at the beginning of the loan. Negative amortization may occur when an ARM has a payment cap that results in monthly payments that are not high enough to cover the interest.
ORIGINATION FEE: A fee or charge for work involved in evaluating, preparing and submitting a proposed mortgage loan. The fee is limited to 1% for FHA and VA loans.
PITI: The term for a mortgage payment that includes principal (P), interest (I), taxes (T) and insurance (I).
PLANNED UNIT DEVELOPMENT (PUD): A zoning designation for property developed at the same or slightly greater overall density than conventional development, often with improvements clustered between open or common areas. Use may be residential, commercial or industrial.
POINT: An amount equal to 1% of the principal amount of the investment or note.
PRE-APPROVAL: When a borrower has completed a loan application and provided debt, income and savings documentation which an underwriter has reviewed and approved. A pre-approval is usually done at a certain
loan amount and makes assumptions about what the interest rate will actually be at the time the loan is made, as well as estimates for the amount that will be paid for property taxes, insurance, etc.
PREPAYMENT PENALTY OR CLAUSE: A fee charged to a borrower who pays a loan in full before the stated due date.
PURCHASE AGREEMENT: A written document in which the purchaser agrees to buy certain real estate and the seller agrees to sell under stated terms and conditions. Also called a sales contract, earnest money contract or agreement for sale.
RATEGAP: The difference between the current rate and the rate to which it could adjust on an ARM.
REALTOR ® : A real estate broker or sales associate active in a local real estate board affiliated with the National Association of REALTORS®.
RECORDING FEE: Charged by the County Clerk to record documents in the public records.
REFINANCE: A new loan with new terms, interest rates and monthly payments that completely replaces your current mortgage.
REGULATION Z: The set of rules governing consumer lending issued by the Federal Reserve Board of Governors in accordance with the Consumer Protection Act.
SHORT SALE: The sale of a home for less than the balance remaining on the homeowner’s mortgage.
TENANCY IN COMMON: A type of joint ownership of property by two or more persons with no right of survivorship.
TITLE: The rights of ownership recognized and protected by law. It is a combination of all elements that constitute the highest legal right to own, possess, use, control, enjoy, transfer and dispose of real estate.
PRIVATE MORTGAGE INSURANCE
(PMI): Insurance written by private companies to protect the lender against loss if the borrower defaults on the mortgage. PMI is often required on mortgage loans in which less than 20% has been put forth for the down payment. Depending on the conditions of the mortgage, the borrower may request cancellation of PMI when equity in the property reaches 20%.
gettingstarted
Your home-buying needs are one of a kind. Using the unmatched resources of the Coldwell Banker® brand, we will develop a custom plan to:
• Provide you with proven, powerful and personal service
• Help you find the right home and negotiate the best possible price and terms for it
• Close the sale in a smooth, timely manner
We are committed to your complete satisfaction, and will represent your interests with the utmost care, honesty, integrity and discretion.
Let s get started! -
the power ofBlue
Masters of our craft
WE ARE A GLOBAL NETWORK
The Luxury Property Specialists with the Coldwell Banker Global Luxury® program are trusted with over $220 million in $1 million+ home sales each day, with an average sales price of $1.9 milliion*. Nobody understands the process of marketing and selling luxury real estate better than we do. of over 96,000 agents in 40 countries and territories.
$2.71 billion in sales volume
COLDWELL BANKER WEST accolades and a total of 2,757 units sold in 2024 locally.
Our incredible production in 2024 earned us these recognitions:
• Ranking among the top 4 real estate brokerages in San Diego County for units and sales volume**
• Coldwell Banker Chairman’s Circle award, representing the top 8% of affiliates nationwide
• The #1 Coldwell Banker affiliate company in California
• The #6 Coldwell Banker affiliate company nationwide
*Source: TrendGraphix. Data as of April 2025 and includes reported activity from all residential real estate brokerages in San Diego County for 01/01/24-12/31/24. **San Diego Business Journal, April 2024 list of largest residential real estate brokerages in San Diego.
