https://www.sothebysrealty.com/eng/associate/180-a-df1808311359105311/ara-melkonians

http://www.isellsandiegohomes.com/about-me

“Expect Greatness”

After ten years living in San Diego, it’s natural for me to want to help design real estate dreams, passionately contributing to our wonderful community, by way of my trade!  I have an expectation driven approach to business, believing that real estate clients (our savvy principals) EXPECT GREATNESS from us.  It is my utmost desire to provide GREATNESS in all things real estate, small and large, serving my clients with professionalism and honesty, day-in and day-out. 

Focusing on a natural aptitude for conversation, I pride myself in being a front end listener.  Conversation was a required topic at university, where I earned a Bachelor's degree in Political Science from California State University at Los Angeles. Contemporaneous with my education, I spent 15 years working as a Sworn Deputy Sheriff.  After nearly 3,000 arrests in the field, protecting our community, I've learned a thing or two about getting results and interacting with all walks of life.  Law enforcement, coupled with a pursuit for knowledge, has prepared me for a seamless transition into dutiful real estate representation.

In 2007, my wife and I started our family, soon made brighter by four beautiful daughters. I enjoy spending time with my wife and our little ladies, and proudly call our beach community home. San Diego's charm lies with the personality of its people, pleasant, giving and friendly at our core.

In 1999, I joined the flourishing real estate market. I'm proud to be affiliated with Pacific Sotheby's International Realty and call our Liberty and Mission Valley offices home. My wife and children assist me with marketing efforts and it's with great appreciation and pride that I call us "family of six"

My story to Real estate representation started with Mortgage Banking.  From 2005 I became licensed as a Loan Originator and have funded well over 150 Million in Home Purchase and Refinance transactions.  Having a bedrock of knowledge in the complex world of home mortgage lending will only help to navigate clients through difficult and challenging transactions.

Through continued, high-intensity professional development, I keep expectations high. I believe a constant training curriculum to be a very integral part of growing as a real estate professional.  No matter how many transactions I have been a part of, I am always open to positive development and learning something new.

Aside from work and family, my passion is playing backgammon– I have been involved with professional backgammon for over 25 years and have earned my way to top 40 world class standings in several online forums.  I enjoy sitting down with my clients and engaging in friendly backgammon meetings over professional and personal conversation.

Life is busy & exciting. I manage it all by staying organized, alert, healthy and grateful. Technology is a very key part of the future of real estate, a future replete with changes both nuanced and involving paradigm shifts!  Technology does not frighten me, change does not get in my way.  I am a sales professional, a true advocate; dedicated to being the best in my field. I greatly look forward to speaking with you about your San Diego Real estate journey.

Click here for the full article  The Financial Crisis Defined.

In the fall of 2008, our economy faced challenges on a scale not seen since theGreatDepression. The crisis was caused by many factors.  Among them were an unsustainable housing boom fueled in part by the easy availability of mortgages,financial institutions taking on too much risk, and the rapid growth of the nation’s financial system with regulations that were designed for a different era. Forces built up over many years until the crisis reached its apex in September of 2008. 

In the span of a few weeks, many of our nation's largest financial institutions failed or were forced to merge to avoid insolvency. Capital markets—essential for helping families and businesses meet their everyday financing needs—were freezing up, dramatically reducing the availability of credit, such as student, auto, and small business loans. Market participants, consumers, and investors were rapidly losing trust in the stability of America’s financial system. Faced with this reality, the federal government moved with overwhelming speed and force to stem the panic. 

The first series of actions, including broad-based guarantees of bank accounts, money market funds and liquidity by the Federal Reserve, were not enough. Realizing that additional tools were needed to address a rapidly deteriorating situation, the Bush Administration proposed the law creating the Troubled Asset Relief Program (TARP). That measure, which was passed by Congress with bipartisan support, was signed into law by President Bush on October 3, 2008. Some of the programs under TARP were implemented by the Bush Administration. The Obama Administration continued these and added others, utilizing its authority under TARP to keep credit flowing to consumers and businesses, help struggling homeowners avoid 
foreclosure, and prevent the collapse of the American automotive industry, which alone is estimated to have saved one million jobs. 

But putting out the fires of the crisis was not enough. To address the underlying causes of the crisis, we had to modernize our regulatory framework and put powerful consumer financial protections in place. That is why President Obama took up the mantle  of financial reform by championing and 
enacting the Dodd-Frank Wall Street Reform and Consumer Protection Act. Americans now have a dedicated consumer financial protection watchdog, financial markets are more transparent, and the government has more tools to monitor risk, and resolve firms whose failure could 
threaten the entire financial system. 

As we approach the five-year anniversary of the height of the crisis, the financial system is safer, stronger, and more resilient than it was beforehand. 

We are still living with the broader economic consequences, and we still have more work to do to repair the damage. But without the government’s forceful response, that damage would have been far worse and the ultimate cost to repair the damage would have been far higher. 

The financial crisis reminds us that we must remain vigilant to emerging risks in the system. The financial system is dynamic and firms are innovative. And as sources of risk change, regulation and oversight must keep pace.... 

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 3.2% in the fourth quarter of 2013. This follows a 4.1% pace of growth in the third quarter of 2013.

New home sales fell 7% in December to a seasonally adjusted annual rate of 414,000 units. November’s initial reading of 464,000 units was revised to 445,000 units. On a year-over-year basis, new home sales were 4.5% higher than December 2012. At the current sales pace, there is a 5-month supply of new homes on the market. An estimated 428,000 new homes were sold in 2013. This is 16.4% above the 2012 figure of 368,000.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending January 24 fell 0.2% from the previous week. Purchase volume rose 2%. Refinancing applications decreased 2%.

Pending home sales, a forward-looking indicator based on signed contracts, fell 8.7% in December. On a year-over-year basis, December pending home sales were down 8.8%.

The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — fell 0.1% in November after a 0.2% increase in October. On a year-over-year basis, prices rose 13.7% when compared with November 2012.

Orders for durable goods — items expected to last three or more years — decreased $10.3 billion, or 4.3%, to $229.3 billion in December. This follows a revised 2.6% increase in November. Excluding volatile transportation-related goods, December orders posted a monthly decrease of 1.6%.

Initial claims for unemployment benefits for the week ending January 25 rose by 19,000 to 348,000. Continuing claims for the week ending January 18 fell by 16,000 to 2.991 million. The less volatile four-week average of claims for unemployment benefits was 333,000.

Upcoming on the economic calendar are reports on construction spending on February 3, factory orders on February 4 and international trade on February 6.

Did you know:

On this holiday, we gather to give thanks. And what is it that we're most thankful for? According to a survey of 25,000 respondents, approximately: 45.2% were thankful for the people in their lives, namely friends, family and spouses. 19.3% were thankful for life experiences, health and inner strength. 19.2% were thankful for their spirituality and religion. 7.5% were thankful for their money and jobs, which ranked ninth on the list. Speaking of people to be thankful for, if you enjoy Thanksgiving, you should be thankful for Sarah Josepha Hale. She started a campaign in 1827 to make Thanksgiving a national holiday. Her efforts included letters written to five presidents. Lincoln responded immediately with his 1863 proclamation that Thanksgiving be observed as a national holiday. On the first Thanksgiving in the autumn of 1621, the Pilgrims had much to be thankful for - only half of those who sailed on the Mayflower survived to celebrate Thanksgiving.

In the News

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Factory orders rose $8.1 billion, or 1.7%, in September to a seasonally adjusted $490.8 billion. This follows a 0.1% decrease in August. Excluding the volatile transportation sector, orders decreased 0.2% in September.

Non-manufacturing activity rose to 55.4 in October from 54.4 in September. A reading above 50 signals expansion. It was the 46th straight month of expansion in the services sector.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending November 1 fell 7%. Purchase volume fell 5%. Refinancing applications decreased 8%.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.7% in September, following an identical 0.7% increase in August.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2.8% in the third quarter of 2013. This follows a 2.5% pace of growth in the second quarter of 2013.

According to the Federal Reserve, monthly consumer credit debt rose $13.7 billion in September for a total credit debt level of $3.051 trillion. Revolving debt, which includes credit cards, decreased $1.2 billion to $846.9 billion. Non-revolving debt, including loans for cars, rose $15.8 billion to $2.204 trillion.

Initial claims for unemployment benefits for the week ending November 2 fell by 9,000 to 336,000. Continuing claims for the week ending October 26 rose by 4,000 to 2.868 million. The less volatile four-week average of claims for unemployment benefits was 348,250. The unemployment rate rose to 7.3% in October from 7.2% in September. Employers added 204,000 jobs in October.

Upcoming on the economic calendar are reports on international trade on November 14 and industrial production on November 15.

In the News The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — rose 2.2% in June after a 2.5% increase in May. On a year-over-year basis, when compared with June 2012, prices rose 12.1%. The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending August 23 fell 2.5%. Purchase volume rose 2%. Refinancing applications decreased 5%. Pending home sales, a forward-looking indicator based on signed contracts, fell 1.3% in July. On a year-over-year basis, pending home sales were 6.7% higher than July 2012. Orders for durable goods — items expected to last three or more years — decreased $17.8 billion, or 7.3%, to $226.6 billion in July. This follows a 3.9% increase in June. Excluding volatile transportation-related goods, July orders posted a monthly decrease of 0.6%. Retail sales rose 0.2% for the week ending August 24, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 1.9%. The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at a revised annual rate of 2.5% in the second quarter of 2013. This follows a 1.1% pace of growth in the first quarter of 2013. Initial claims for unemployment benefits for the week ending August 24 fell by 6,000 to 331,000. Continuing claims for the week ending August 17 fell by 14,000 to 2.989 million. The less volatile four-week average of claims for unemployment benefits was 331,250. Upcoming on the economic calendar are reports on construction spending on September 3, international trade on September 4 and factory orders on September 5.

In the News

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Retail sales rose 0.6% to $421.1 billion in May. This follows a 0.1% increase in April. Compared to May 2012, retail sales have increased 4.3%.

Wholesalers increased their inventories 0.2% to $504.8 billion in April. Sales at the wholesale level rose 0.5% to $416.6 billion in April. On a year-over-year basis, sales were 0.7% higher than April 2012. The seasonally adjusted wholesale inventories/sales ratio in April was 1.21.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending June 7 rose 5%. Purchase volume rose 5%. Refinancing applications also increased 5%.

The Reuters/University of Michigan consumer sentiment index for June's preliminary reading fell to 82.7 from 84.5 in May, which was the highest reading since July 2007.

Industrial production at the nation's factories, mines and utilities was unchanged in May after a 0.4% decrease in April. Compared to May 2012, industrial production has increased 1.6%. Capacity utilization fell to 77.6% in May from 77.7% in April.

The producer price index, which tracks wholesale price inflation, rose 0.5% in May, following a 0.7% decrease in April. On a year-over-year basis, wholesale prices were up 1.7% in May. Core prices — excluding food and fuel — rose 0.1% in May.

Initial claims for unemployment benefits for the week ending June 8 fell by 12,000 to 334,000. Continuing claims for the week ending June 1 rose by 2,000 to 2.952 million. The less volatile four-week average of claims for unemployment benefits was 345,250.

Upcoming on the economic calendar are reports on the housing market index on June 17, housing starts on June 18 and existing home sales on June 20.