Category Archives: Personal Finance

Money Monday: How to not overpay for a house

money

“No buyer wants to pay too much for a house…buyers should know when a property is overpriced and be equipped with strategies to avoid overpaying.” (CNN. “How to avoid overpaying for a home.” www.cnn.com/2019/01/11/success/overpaying-for-a-home)

CNN has practical tips here: “How to avoid overpaying for a home.”

Money Monday: More homebuyers are DIYing than hiring professionals

“Although the majority of homeowners prefer the trusty hands of a professional, data suggests that “do it yourself” remodeling projects are on the rise.

diy home improvement

“In fact, the National Association of Realtors 2019 Remodeling Impact Report indicates that 53% of home projects were completed by a professional, whereas 47% were completed by a homeowner.” (Housing Wire. https://www.housingwire.com/articles/47836-nar-diy-projects-now-competing-with-renovation-professionals. 3 January 2019)

Read more here: NAR: DIY projects now competing with renovation professionals

Money Monday: Paying for surprise repairs

Nearly half of homeowners have had to make (and pay for) an unexpected repair within the first year of owning their home. Do you have money set aside for a repair?

  • 12% had to use savings to pay for the majority of the home repair and/or improvement
  • 13% had to go into debt for the repair or improvement
  • 20% had to make sacrifices in other areas of life in order to pay for them
  • 52% were able to easily pay for the repair or improvement without going into debt, making other sacrifices or using savings

Making and paying for surprise home repairs

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: Financial documents every family should have

Financial documents are important when you’re on your own, but even more so when you have a family.

Here are four different documents you should probably have:

1. Beneficiary designations

2. A will

3. A Heath Care Proxy 

4. An Advance Medical Directive (living will)

Read the rest of Forbes’ article on this here: “4 Basic Financial Documents Every Family Should Have.”

Money Monday: Make smart purchase offers

When you write a purchase offer, the back-and-forth between you and the seller begins (typically with real estate agents advising both of you) — and when you are intentional about your number and why, the more successful you’re offer will be.

All-cash offers in today's real estate market

Following some guidelines from HouseLogic when choosing your purchase offer amount will help:

  1. Know your financial limits and stick well within them.
  2. Get familiar with the real estate lingo (an agent helps tremendously here!)
  3. Have your agent run the comps to see how the list price of the home compares and then take other aspects (like time on market, availability of other similar properties in the area, etc) into account.
  4. Figure out your down payment.
  5. Make an earnest money deposit if you’re truly serious about buying the house.

Read the remainder of HouseLogic’s tips here: “Make an Offer Like a Boss.

And give me a call for step-by-step real estate help as your Realtor when buying a house! John A Silva, (619) 890-3648

Must Read if You’re Now Thinking About Selling Your House

This quick read from House Logic has 4 major points when making the decision to sell your home or rental. Read it here:www.houselogic.com/sell/how-much-is-my-home-worth

Even though it is the holidays, wouldnt it make sense to get a leg up on the competition by starting now? Tailoring showings around your holiday schedule is easy when hiring me.

Call me for FREE analysis of your property today!

Thank you

John A Silva, Realtor.
619-890-3648

Money Monday: Should you sell your house with a Realtor or on your own?

Many homeowners decide to sell their home without hiring a Realtor. Does listing your home with a real estate agent or listing it as a For Sale By Owner (FSBO) make more sense?

Well, the CALIFORNIA ASSOCIATION OF REALTORS believes that homesellers going the FSBO route will spend more time trying to make a sale, and end up with a lower selling price than if they had used a real estate agent — and they have some statistics to back them up.

Take a look at their infographic below, and if you are selling and would like a Realtor to do the job for you, give me a call! I’m here to help you get your home sold! John A Silva, (619) 890-3648

reasons to hire a Realtor

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: Purchases to skip on Black Friday

Black Friday has a lot of deals, but purchases that day aren’t always as cheap as they could be.

Here are 10 such items you can purchase for less following Black Friday:

  1. Toys
  2. Fitness equipment
  3. Holiday decor
  4. Bedding
  5. Indoor furniture
  6. Five other purchasing categories from US News here