Category Archives: Real Estate Advice & Tips

Money Monday: Reasons Not to Purchase a Home with All-Cash

Even if you have the financial means to put in an all-cash offer, you may not want to do so.

All-cash offers can be more appealing to home-sellers, but you also need to take into consideration the other aspects of paying so much cash upfront.

All-cash offers in today's real estate market

  1. Will you have enough liquidity left? At least a few thousand dollars left in your pocket is ideal. You may have repairs, upgrades you desire to make, and increased utility and maintenance costs for your new house — not to mention your typical costs and unexpected financial needs (such as medical bills or suddenly losing employment).
  2. What if you easily qualify for a mortgage? Interest rates are still on the low-side, and by obtaining a mortgage to purchase a house, you would be able to keep a large chunk of your finances.
  3. Paying all-cash means you miss out on a tax break. When you have a mortgage, you are able to receive a tax break on the interest paid to the mortgage lender.
  4. & 5. reasons are available to read at Finance.Yahoo.com: “5 Reasons Not to Purchase Your Home With Cash.”

Money Monday: Preparing to Buy a Home

Buying a home — it’s a big decision; one that you should prepare for in advance.

buyers and sellers real estate disclosures“One of the most important things a first-time homebuyer can do is prepare their budget for this big financial event.” (“How to Prepare Your Budget for Buying Your First Home”. http://finance.yahoo.com/news/prepare-budget-buying-first-home-123000854.html)

And there’s a few key ways that you can get your budget in order:

  1. Work on getting your credit score up
  2. Save for a down payment on a house
  3. Prepare for extra costs when buying

Read more on Yahoo’s financial advice on prepping your budget before buying here: “How to Prepare Your Budget for Buying Your First Home”.

Money Monday: Ask Yourself These Questions Before Renting or Buying

Whether to buy or rent doesn’t necessarily have a clear-cut answer. But hopefully these questions will provide some guidance:

  1. What’s your top financial priority?
  2. What do you have savings for: down payment or first and last months’ rent?
  3. How long do you plan on living in the area?

There’s five more questions to ask yourself before you rent or buy; find them here on Yahoo: “8 Questions to Ask Yourself When Deciding to Rent or Buy a House.”

Projects with the Best Returns in 2017

Resale ROI

House projects have varying degrees of return; here are the top five projects with the greatest ROI, and the top five with the least ROI:

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

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!