Promoting positive relationships between Coronado real estate professionals and property owners.

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Contact Info     To learn more about CREA please visit us at our service center located at 120 C Avenue, Suite 140 Coronado, CA 92118. Our weekly pitch meetings take place at Candelas Restaurant at the Coronado Ferry Landing.

Mid-October Update

Coronado_AerialAnnual Holiday House Mixer

Date:  November 13, 2013
Time  5:30 PM to 7:30 PM
Location:  Costa Azul, 1031 Orange Avenue, Coronado

No cost to attend but please bring a donation to the Holiday House Charity.  Donations this year will be distributed to 5 local charities through SDAR’s Ambassador Foundation, a 501 (c) (3) non-profit organization. More information on the participating charities can be found at www.sdar.com

Appropriate donations include new toys, household items, non-perishable food items and financial assistance (cash or gift cards).

Please plan to join CREA for this event.

RSIP 3

The City Council wants to reconvene the RSIP group to again look at revising the development standards. Eleven of the nine RSIP 2 group say they are willing to help. This leaves a couple of spots open. We would love to see a representative from CREA on the committee. The City Council will make the final selection. The link below is an application to be completed and submitted to the City Clerk by November 6.

http://www.coronado.ca.us/egov/documents/1381179883_394.pdf

Beware of Solar Systems

If you are representing the Buyer or Seller of a home with a solar system, be sure to investigate whether or not the system was installed under a lease arrangement with the solar company.  If the system is leased, the lessor will typically record a document called a UCC-1 to protect their interest in the equipment.  The UCC-1 will show up in a title search and the title company will require the ownership of the solar equipment be resolved before a title policy can be issued.  The solar equipment lessor sometimes requires that the Buyer of the property be approved for the lease – at their sole discretion, which may impact the Buyer’s ability to qualify for a loan.  The lessor may also require the remaining balance of the lease be paid upon transfer of the property, which can often be as much as $50K!  Similarly, if the lease is to be assumed, we suggest you check the terms of the lease carefully.  Some start out at very low rates which increase exponentially over time.

Have Announcements?

Please submit any Coronado real estate related announcements (ie Open Houses, buyer/seller needs, price reductions, rentals, etc.) to crea@coronadorea.com and CREA will market to CREA membership via email and our Facebook page.

Election of 2014 Officers and Directors

Ballots for the election of 2014 Officers and Directors will be mailed to all eligible voters on October 21, 2013 please complete and return them to CREA as soon as possible.

Coronado Caravan Meeting

The next Caravan meeting takes place October 23, 2013 at 9:30 am. The speaker for the meeting will be Coronado Police Chief Jon Froomin. Sponsors are Juanita Adame of Liberty Mutual Insurance and Claudia Farnum of Point Mortgage. The November meeting will be moved to November 20 due to Thanksgiving.

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