Tag Archives: homebuyers

Money Monday: Understand credit score’s impact before buying a home

If you’re thinking of buying in the next few years, it pays to start thinking about — and building up — your credit score now.

mortgage rates and property taxes

Because having a mortgage is, for many people, the largest loan they attain. Read all of Forbes’ advice here: “Ready To Buy A Home? Understand The Impact Of Your Credit Score First.”

Single Women Outbuy Men in Homeownership

A rising real estate trend

There is a rising trend in residential real estate – in the single family homes sector. Builders of new homes are tailoring their design and subdivisions in order to gain single women homebuyers.

Nationwide last year, single women made up 18% of homebuyers, while single men only accounted for 7% of all home sales, according to the National Association of Realtors.  This category of single women included those: never married, widowed, and divorced. Spending for single women also is more than it is for single men, on average. Single women are now the second highest group of purchasers, behind married couples of all homes.

This trend is expected to increase over time. The evolution of real estate ownership, as well as the evolution of business leadership, will both increase for women in years to come.

See link for more details: realtormag.realtor.org/daily-news/2018/05/11/single-women-outbuy-men-in-homeownership

For more info on getting your best deal on your dream home, or for a free valuation of your home, please call me, John A Silva, now at 619-890-3648 — and as always, have a blessed day!

When Housing Inventory is Low, Finding a Home Will Take Some Time

Looking around? You’ll find your perfect home, it may just take awhile.

While it’s a sellers’ market out there, if you’re patient you should be able to find the home you want to live in — not just one you’re settling for.

This infographic is from CAR.org.

Money Monday: The predicted 2018 housing market

Home buyers aren’t going to catch much of a break this year. According to CNN, that is. Here’s a brief blurb from their recent article ‘Is 2018 the year to buy a house?‘”

real estate market update for July 2017Sellers will remain in the driver’s seat as buyers continue to face affordability issues thanks to low housing supply.

“The challenges for buyers in the market haven’t changed that much from last year” said Keith Gumbinger, vice president of mortgage website HSH.com.

What’s more, home loans are expected to get more expensive as the year progresses.

Here’s what home buyers and sellers can expect from the housing market this year”:

Homes will remain in tight supply

Home prices will slow

Loans will get more expensive

Read CNN’s article in its entirety here: “Is 2018 the year to buy a house?

California Real Estate: Housing Affordability in the 3rd Quarter

The latest on the California real estate market.

Take a look at the infographic below to see the percentage of households who can afford to buy a median-priced home.

Real estate affordability in California

This infographic is from CAR.org.

Money Monday: How to buy your first home

Ready to move on from renting? Here’s some tips on buying your first home.

home buying

Search for La Mesa homes for sale here!

1. Get your money in order

This might be the largest purchase you make, which makes sorting out your money a top priority!

2. Shop at more than one place for your mortgage

You don’t have to stick with the first place you go for a loan; check out other lenders.

3. Shop for your home

Part of shopping for a home means considering enlisting the help of a real estate agent; I would be honored to have the opportunity to earn the position. Give me a call to see how I can help you in your house search!

Delve into each deeper in CNN’s article here: “How to Buy Your First Home.”

Avoid Real Estate Regret

Buying a home is a big decision; make sure you don’t suffer from homebuyers’ regret by taking these things into consideration.

  • What is the neighborhood atmosphere at night, when everyone’s home?
  • How long will your commute be?
  • Take a look at the CC&Rs, or the homeowner association rules. Are there any that are a no-go for you?
  • If there are any specialty amenities on the property (like a septic system or pool), you may want to have an expert do a thorough inspection of them.

Avoid homebuyers' real estate regret

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

Money Monday: Homebuying myths you need to avoid

Don’t fall for these 6 homebuying myths

home buying

“Buying a home is one of the biggest financial decisions you will make, and you’ll likely need to do a lot of planning and research before you take the leap. But don’t get snagged by misconceptions. Mortgage expert Tim Manni busts these six common real estate myths to help you find — and afford — your first home.”

  1. Your credit score is “good enough” to buy a home
  2. Loan pre-approval determines your price range
  3. Your home purchase is non-negotiable

Read the three other homebuying myths here, on Yahoo’s personal finance page: “Don’t fall for these 6 homebuying myths.”