Rising interest rates have a significant impact on your mortgage payment and your ability to qualify for a loan. Whether you are looking for your first home or your fifth, you are probably going to need a mortgage to purchase it. The infographic below shows what your payment would be as interest rates increase.
Continue reading Interest Rate Impact
Don’t wait until you’re ready to move to start preparing financially to buy a home.
If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage.
The requirements to secure a mortgage may seem overwhelming, especially if you’re a first-time buyer. But I’ve outlined three simple steps for getting mortgage ready.
Even if you’re a current homeowner, it’s a good idea to prepare in advance so you don’t encounter any surprises along the way. Lending requirements have become more rigorous in recent years. Changes to your credit history, debt levels, job type and other factors could impact your chances of approval.
It’s never too early to start preparing to buy a home. Follow these three steps to begin laying the foundation for your future home purchase today!
Continue reading Three Simple Steps for Getting Mortgage Ready
Understanding a home’s true market value is about more than pictures, software assessments and price-per-square-foot. Whether you’re a current homeowner thinking of selling or are house-hunting, it’s crucial you understand what factors affect home valuation. By partnering with a local market expert, sellers will avoid pricing their house out of the market (the kiss of death in real estate) while still getting top dollar. Buyers will ensure they get a good deal on their next home.
So, how do you accurately calculate a home’s value? After all, the value a home is assigned by the tax assessor and the one it’s given when it’s listed are often dramatically different from one another. Which one is accurate and what does it all mean? Read on to learn more.
Continue reading How to Do a Home Valuation and Get Top Dollar
If you’re in the market for a new home or investment property, one of the first questions you’ll probably ask is, “What can we afford?” To answer this question, you must look at more than just the asking price of a home. You need to understand what your total buying power is, and the factors that will affect it.
Continue reading What’s Your Home Buying Power?
One of the most common questions I get at this time of year is, “What’s going on in the market?” It’s not just potential buyers and sellers who are curious; homeowners always want reassurance their home’s value is going up. The good news is the American real estate market is strong and healthy. Home values are up, prices and sales are strong, and millennial, first-time buyers are eager to become homeowners.
We often use national real estate numbers to give us a clearer view of our local market. However, real estate is local, and while statistics and predictions help us understand the overall real estate market, our local market may be different. If you’re thinking of buying or selling, or just want to know how much your home is worth, give me a call!
Continue reading Real Estate 2017: What to Expect
Okay, you made one of the most important decisions in your life: you’re buying a home! You found your ideal home. It’s in your desired neighborhood, close to everything you need. You love its design and feel, and you’re ready to finalize the deal.
But, whoa … wait a minute! Buying a home isn’t like buying a toaster. If you discover something’s wrong with your new home, you can’t return it for a refund or exchange. You’re stuck with your buying decision. Purchasing a home is an important investment and should be treated as such. Therefore, before finalizing anything, your ideal home needs an inspection so you don’t throw your hard-earned money into a money pit.
Continue reading Get a Home Inspection and Save Money
Maybe your dream home has the intricate details that you usually find only in older construction — wainscoting and crown molding in the interior, a large yard with an older tree shading the back yard, and a white picket fence.
Or maybe your dream home has all the conveniences of modern living — open floor plan in the living and dining spaces, large windows, connected, “smart” appliances, and minimalist design elements.
Whether you go for a brand new construction or an existing home, both types of properties have their pros and cons when it comes to purchasing. What type of home is right for you will depend on which factors are most important for your lifestyle.
Continue reading Should You Buy a New or Existing Home?
No matter if you’re in a buyer’s or seller’s market, there are a few critical steps you can take to make a smarter purchase. Since buying a home is likely the biggest single investment you will ever make, being prepared will help you make a better purchase. Here are 7 tips and tricks to buying a home.
What is your buying power? It is your ability to borrow plus the cash you have available for a down payment and closing costs. Your credit-worthiness and income will affect how much you can realistically borrow for a home.
Continue reading How to Buy a Home: 7 Tips and Tricks from Real Estate Insiders
According to a survey by the California Association of Realtors, one of the top reasons home owners have not considered selling is a concern that property taxes on another home would be too expensive.
For certain groups of people living in San Diego County and some other counties in California, there is a way to move but not increase property taxes.
California voters have passed several propositions, Propositions 60, 90 and 110, that allow eligible property owners to transfer the base year value of an existing principal residence to a replacement dwelling.
What do these propositions do? Who qualifies, and what are the benefits?
Continue reading How to Move But Not Increase Property Taxes
Some people take their credit for granted and don’t start paying attention to it until they need it. Doing this could cause them to pay more interest or keep them from getting a loan altogether.
There are several things that can kill your credit score. Knowing what they are and dealing with them ahead of time will save you time, money and headaches.
Continue reading Things That Can Kill Your Credit Score