Category Archives: Real Estate Advice & Tips

Money Monday: What does FICO have to do with my Home Loan?

Your FICO score is the yardstick by which most lenders measure your credit worthiness.

debt calculationThe major credit bureaus keep track of loans that you have taken out in the past and how well you managed this debt. A high FICO score indicates that you have been responsible with the credit extended to you and will reflect positively on applications that you submit, while a lower score indicates that you have had credit issues in the past. Continue reading

How to Decide on Paint Colors

What’s in a color?

Paint isn’t just paint; it affects the mood and feeling of the home and room you’re painting. Deciding on the proper color is important, whether staging your home to sell or just giving it a refresher.

what's in a color car.org

This infographic is from CAR.org.

These large metros are seeing the fastest growth

Among others, San Diego metro area is one of the top 20 fastest growing economies

Source: CNBC

urban real estate prices, most live in suburbsThe San Jose metro economy is among the largest growing economies, according to the Bureau of Economic Analysis. San Jose’s 8.9 percent growth led the 292 metro areas that saw their local economies grow last year. San Francisco, Los Angeles, Riverside, and San Diego metro areas also ranked in the top 20 fastest growing economies at growth rates of 4.1 percent, 3.9 percent, 3.8 percent, and 2.5 percent, respectively.

While the economies of most major American metro areas have fully recovered, many smaller cities are still struggling to climb back to pre-recession levels.

Full story: www.cnbc.com/2016/09/20/these-large-metros-are-seeing-the-fastest-growth

Call Me for Residential Real Estate!

Now that an exciting high school, college and NFL season is upon us, residential real estate has been even more exciting this year! Sellers and buyers are reaping the profits of sales and benefits of purchasing NOW with interest rates still near historic lows.

football-field

It’s time — and your turn to get in the game and score your touchdown today! Don’t be left on the sidelines; call me now!

If you know someone looking to sell or buy, rest assured you know that they’re with the #1 Team!

Exposure is the Name of the Game

Exposure is the key to selling your home fast and getting top dollar.

selling your home

With good exposure your home will be viewed by more people, thereby increasing the chances of an offer on your home. If you are looking to sell your home quickly then it is definitely in your interest to contact a REALTOR®, as it is unlikely that you will be able to generate as much exposure as an experienced professional.

Why is it that a REALTOR® is able to generate so much more exposure than the average homeowner? Part of the explanation can be found in the fact that most REALTORS® have marketing plans that consist of print ads, an online presence, and a network of clients interested in real estate. A second reason is that for many REALTORS® this is a full time job and they are willing to put all their experience and time to the sale of your home. The final reason is that the REALTOR® has access to the Multiple Listing Service (MLS) and through this is able to network with every agent in your market area. As soon as you list your home with a REALTOR® this information is disseminated to all agents in the market, who are then able to match it to buyers that they are working with; maximizing your exposure and minimizing the time it takes to sell your home.

Money Monday: Who’s checking your credit?

You may be surprised….

According to the Consumer Federation of America’ research, it’s not just creditors who are looking at your credit scores.

You may not realize this, but creditors are only required to inform consumers that their scores are being checked when consumers have one of the three happen:

  1. They apply for a mortgage
  2. When they haven’t received the best loan terms
  3. When they are denied a loan

Who else may be looking at your credit? 

  • Electric utility companies
  • Cell phone companies
  • Landlords
  • Home insurers

Who is checking your credit score

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS at CAR.org.

Money Monday: How to improve credit scores

10 ways home buyers can improve credit scores

Source: Inman

credit scorePotential home buyers looking to acquire a home loan and make their dream of homeownership a reality can do a lot to ensure their credit scores are in good shape, as buyers will find it easier to get a loan with a few key tips. For example, it is advised that you keep your credit card balances within half of the allowed limit. If you have $10,000 as your limit, then it is wise to restrict your statement amount to $5,000.

Paying in full and on time are obvious steps to improving credit as well, as is paying high-interest and small loans first. Another step is if you know you will be unable to pay on time, negotiate with your bank.

Banks often will be willing to extend your loan period and reduce the equated monthly installment (EMI) if they see a genuine customer.

Read the full story from Inman here.

Money Monday: Renters have affordability challenges when buying a home

Renters value homeownership but face affordability challenges when it comes to buying a home, C.A.R. survey finds.

upside-downCurrent renters value homeownership and want to buy a home, but many are encountering affordability and financial obstacles that prevent them from buying, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 Renter Survey. Making sense of the story:

  • Nearly half of renters (48 percent) plan to buy a home in the future, with 10 percent saying that they plan to buy within a year.
  • For those not planning to buy, an improvement in finances, lower housing prices, and saving enough for a down payment would motivate them to buy now.
  • Of the 28 percent of renters who don’t plan to buy in the future, 50 percent said they can’t afford to buy, 20 percent will not buy because they prefer to rent, 19 percent said they can’t qualify for a mortgage, and 15 percent lack a down payment.
  • Job uncertainty (9 percent), economic uncertainty (12 percent), and housing market uncertainty (6 percent) were among other reasons renters cited for not buying a home.
    Homeownership remains important to renters, with nearly half (45 percent) rating it 8 or higher in importance on a scale of 1-10, with 10 being extremely important. The average was 6.8.
  • Nearly all renters (95 percent) see advantages to homeownership; freedom to do what you want with your home, building equity, and having permanence and stability were the top benefits mentioned by renters.
  • One of the surprising findings of this survey is that more than one in four millennial renters said they plan to purchase a home that will accommodate their parents, and about one in five millennials indicated they plan to pool funds with family members to buy a home.

Read the full story from KPCC: www.scpr.org/news/2016/06/08/61459/homeownership-is-valued-but-remains-expensive-and/