Category Archives: Homebuyers

Money Monday: Mortgage hurdles

Many first-time buyers don’t realize that there’s many steps to getting a mortgage.

  1. Get pre-approved
  2. Have the home appraisal
  3. Keep your credit consistent
  4. Review the closing disclosure
  5. Go through underwriting

This infographic is from CAR.org.

Baby Boomers Just May Cause the Next Housing Crisis?

Will the next housing crisis be because of baby boomers?

In today’s housing environment, there are surprising factors that baby boomers, born between 1946-1964, will be three times more likely to be carrying mortgage debt as of 2015 at age 60 years or older compared to 1980 according to U.S Census Bureau Data stats.

As of 2016, there were 74 million baby boomers alive and by 2030, when all baby boomers will be between 66-84 years old, there will be 60 million predicted to be alive. So with interest rates changing from 3.41% in 2016 to 4.62% recently for 30-year fixed-rate mortgages — and affordable housing being eliminated due to higher pricing (and that the new Millennial Generation is beginning to buy) — the next generation of seniors will have to be more creative with housing. One creative approach to housing is by living in helper units on their children’s properties in the future, such as granny flats or casitas — or buying a smaller home in another area. Downsizing or staying in their current home becomes the daunting task and question.

Maximizing your current home’s value by preparing is essential; do so with your building contractor, financial planner, accountant and Real Estate Agent.   I’m here to help recommend any of these people and more or get you a free analysis of your home’s value.  You can reach me at JohnASilvaRE@gmail.com or 619-890-3648.

Is this the Sign of a Change?

After months and years of wholesale increases on property values in San Diego, the hoopla may be coming to an end.

San Diego Real Estate valuesSee this link on recent stats from ATTOM Data Solutions that show foreclosures are now on the rise over the past several months in 96 of 219 metropolitan markets through out the nation: www.attomdata.com/news/market-trends/foreclosures/july-2018-u-s-foreclosure-market-report

Los Angeles has had a 20% year-over-year increase for July, while San Diego is lower due to the size difference compared to LA. But the time may be now to rehash any questions, if you are on the fence about selling now.Whether you may have a financial burden or may be ready to cash out, I have options to maximize your situation. Message me today for a very short no-pressure consultation. 619-890-3648 or JohnASilvaRE@gmail.com.

Best Deal in San Diego of Well Cared for Complex as Rental or Occupy!

Large 3-Bedroom, 2-Bath and 2 Private Covered Parking Spaces!

Just Listed | 11911 Royal Rd F, El Cajon

11911 Royal Rd F, El Cajon, CA | Just listed by John A Silva, San Diego real estate agent

Offered at $359,000

SUPER CLEAN, Meticulously Cared For & Upgraded! Just Move-IN! NO popcorn ceilings. Master Bedroom Has vanity w/walk in closet & shelves. Newer A/C & Forced Air Heat 2015. Recently added in the beautiful efficient kitchen are cook top/oven, fridge, micro wave plus Dual Pane Windows through out. Parklike settings out of most windows. Water & sewer included in HOA. Enjoy Nice community large pool, park and playground area for toddlers to teenagers, continue w/small gatherings in the evening-BBQ in Patio.

Contact me for details or to view this move-in ready home! (619) 890-3648

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Money Monday: The differences between fixed-rate and adjustable-rate mortgages

If you’ve never bought a home before, the whole process can seem a little confusing. One of the first things you have to figure out is whether you should get a fixed-rate or adjustable-rate mortgage. Most people choose the fixed-rate mortgage without even thinking about it, but there are situations where an adjustable-rate mortgage may be a better fit.

mortgage rates and property taxes

Read CNN’s “Should I get a fixed- or adjustable-rate mortgage?” article to find out the differences between the two and to figure out what’s best for you personally when buying a home.

Money Monday: Summertime features raise home prices

Homes with amenities geared toward summer activities hold high buyer appeal.

And in Southern California, it’s a perfect place to have some of these features incorporated into your home. If you’re thinking of selling, it just might help you fetch top dollar for your home!

CALIFORNIA ASSOCIATION OF REALTORS | Summertime house features infographic

This infographic is from CAR.org.

For Sale: Super Clean Home in Lakeside!

Super Clean Home! Come check out Great Country Home, Call NOW to set appt! 619-890-3648

9243 Single Oak Dr | Lakeside, CA

9243 Single Oak Dr, Lakeside, CA 92040 | Listed by John A Silva, San Diego real estate agent

Seller will Entertain Offers between $499900 – $525876

REDUCED! YOUR “Country Road Where YOU Belong” HOME with large corner usable lot in a great area! Awesome relaxing covered patio for entertaining & huge backyard for kids yard games, RV, etc. Resilient vinyl siding, big garage with workspace for hobbies, & rear roll-up door to large covered port & out building. Inside, the ultimate lady or man cave for several uses: library, utility, media/music, video games, etc. This clean home has newer roof, windows, CFA & heat. Enjoy cozy fire on cold nights in or outside!

View the virtual tour | More details

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Just Listed: 1160 Crystal Downs Dr, Chula Vista, CA

1160 Crystal Downs Dr | Chula Vista, CA

1160 Crystal Downs Dr, Chula Vista, CA

 

Offered at $659,900

Location, location! Large premium corner lot on cul-de-sac in popular area of Eastlake! This beautiful home has all the bells & whistles: wide entry, soaring ceilings, 2 fireplaces, separate living, dining, family, & laundry room. Original owner; recent upgrades/remodel in kitchen, bathrooms. Including pavers in big backyard — the perfect spot for family gatherings or relaxing. Best Buy Home: all you have to add is your special touch. Don’t wait till it’s too late — this home run is going, going, gone!

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