Living in Contra Costa County

Buying a Home in Brentwood Ca

When Buying a Home location is very important.  This post outlines a few reasons that location is important when Buying a Home and what you should check.

For more information about Buying a Home in Brentwood or Beyond and to Search the MLS go to Home Point Real Estate.  

As the spring season IS upon us, and homes seem to be  disappearing much more rapidly than in past months it bears remembering...location, location, location.  You can change anything about the inside of a home, but you can never change your location.  The only thing to compensate for a poor location is PRICE.

 

The first location is the town - pick a good one.  What are the factors that will help appreciation over time?  A thriving economic center.  Access to a good education.  Access to good medical services.  Access to transportation - major expressways or train lines to major city centers. (jobs).  Recreational activities.  These are all things that contribute to appreciation over time,  and make a good bet for selecting a town to live in.

 

The second location is the neighborhood within the town.   This can be a tricky one.  But you can do your homework and drive by and through the neighborhood.  Do so in the morning, do so in the evening.  Realtors can't tell you whether there are kids in the neighborhood, but a perceptive eye can spot a jungle gym.  Make the commute from work as if you live there before you make an offer.  You may find that it's more than you bargained for, or maybe there's a bus stop on the corner and it's precisely what you were looking for.

 

The third location is how the home sits within the neighborhood.  Is the home located on a busy street?  Close to a house of worship that doesn't have anywhere for overflow parking? Overlooking a bus barn?  Close proximity to a train "track" rather than station. Or possibly a cell tower or high tension wires in your neighborhood?  Make sure you do your homework.

 

You can get a great deal on a home that  has an objection.  Simply be prepared that when you sell your home that you will not be able to command the same price as neighboring homes.  So long as you have no issue with a particular objection, and understand this premise, this option might make sense, particularly if the first two locations are good ones.

 

Good advice to be the lowest home in a neighborhood of greater value rather than the highest home of a lower valued neighborhood.  Your resale will be better with the former, as opposed to being over improved and more difficult to get your money out in the latter.

 

Good luck in your home search!

 With the confidence that comes from writing a full price offer, the buyers assumed the house was "in the bag". After all, who would turn done a full price offer in this market? The rejection came as a greater shock than a Dallas Cowboy's Super Bowl victory. Let's examine some factors other than price that can cause an offer to be rejected.

1) A truckload of closing costs--Most sellers in the Pineville Louisiana real estate market expect to pay a portion of  the buyer's closing cost. Paying points or giant origination fees will typically cause sellers to pause.

2) Requesting improvements over repairs-- During the inspection it is discovered that the 300 dollar dishwasher is about to give up its ghost. In its place should go a similar style/quality appliance. Demanding a silent, stainless steel model is a great way to kill a deal.

3) Requesting repairs for items that are not broke-- The plumber says the toilet is fine, Papa thinks it is leaking. Unless Papa is writing a check don't expect a new throne prior to closing.

4) A closing date measured in geologic time-- In the Pineville market sellers expect closing 30-45 days out. Your offer to close "before South America and Africa are one again" will probably be rejected.

5) Shell game financing--Sellers like to see mortgage commitment from stable financial institutions or cash offers. Letters contingent on a certain quarter horse winning the afternoon race (or even worse a lawsuit settlement) don't carry much weight.

 Though important, price is only two lines on a 6 page purchase contract. The other terms can quickly make a "strong offer" pretty puny. Ready to purchase a home in Pineville, la? Call Doug Rogers with Bayou Properties Realty (318) 613-1994.

Doug Rogers

Associate Broker

Bayou Properties Realty

 

When preparing to purchase a home, whether you’re a first time home buyer or looking for an investment home, it pays to do your homework before house hunting. But where do you start? Do as the experts do! Here are some insider tips Real Estate Agents follow to know where to find great homes for their clients.

Study The Local Pricing
Every agent knows to study current house price trends in their areas, and you should too. See what the average home price is in the town you’re looking at, then compare them to the average price in neighboring towns. This will reveal what town is more in demand as well as which properties are priced “fairly”. You can find home prices online or in your local newspapers.

Check School Rankings
Check your state’s board of education website or PSK12.com to see what schools near you are at the top or moving up in the ranks. This is obviously beneficial if you have children, but can also be a good investment if you don’t as homes in a good school district will be more desirable if you decide to sell.

Look Out for Development
When driving around possible neighborhoods, keep an eye out for any new roads, schools, etc. This is a sign that the community is set for a growth spurt and home prices could end up increasing in future years.

Watch the Outskirts
If you’re looking to live in a major city, but are finding that the home prices are overpriced, check out the outer fringes of the city. These areas will soon be in demand and are still a short commute to the center of the city!

Explore Low-Tax Alternatives
This information can be received from a local tax assessor or your real estate agent once you get one. Check to see how much the town charges in taxes per $100 of house and compare it to the neighboring towns

For Additional Questions call me, Michal Bander at Guaranteed Rate - 954.684.9227

Keep your emotions in check and your eyes on the goal, and you’ll pay less when purchasing a home.

When negotiating a house sale, for every concession you make, ask for something in return. Image: Westend61/Getty Images

 

Buying a home can be emotional, but negotiating the price shouldn’t be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers.

 

 

Here are six tips for negotiating the best price on a home.

 

1. Get prequalified for a mortgage

Getting prequalified for a mortgage proves to sellers that you’re serious about buying and capable of affording their home. That will push you to the head of the pack when sellers choose among offers; they’ll go with buyers who are a sure financial bet, not those whose financing could flop.

 

2. Ask questions - and write them down before you forget them!

Ask your agent for information to help you understand the sellers’ financial position and motivation. Are they facing foreclosure or a short sale? Have they already purchased a home or relocated, which may make them eager to accept a lower price to avoid paying two mortgages? Has the home been on the market for a long time, or was it just listed? Have there been other offers? If so, why did they fall through? The more signs that sellers are eager to sell, the lower your offer can reasonably go.

 

3. Work back from a final price to determine your initial offer

Know in advance the most you’re willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale. 

Work with your agent to evaluate the sellers’ motivation and comparable home sales to arrive at an initial offer that engages the sellers yet keeps money in your wallet.

 

4. Avoid contingencies

Sellers favor offers that leave little to chance. Keep your bid free of complicated contingencies, such as making the purchase conditional on the sale of your current home. Do keep contingencies for mortgage approval, home inspection, and environmental checks typical in your area, like radon.

 

5. Remain unemotional

Buying a home is a business transaction, and treating it that way helps you save money. Consider any movement by the sellers, however slight, a sign of interest, and keep negotiating. 

Each time you make a concession, ask for one in return. If the sellers ask you to boost your price, ask them to contribute to closing costs or pay for a home warranty. If sellers won’t budge, make it clear you’re willing to walk away; they may get nervous and accept your offer. However, be cautious if you are truly in love with the house (even though your emotions should NOT be involved). Make it clear you have made a concession, so they should as well. Also, make sure this is a great deal for you. You are NOT trying to walk all over them. They may have actually reached the point at which they cannot go any lower.

 

6. Don’t let competition change your plan

Great homes and those competitively priced can draw multiple offers in any market. Don’t let competition propel you to go beyond your predetermined price or agree to concessions—such as waiving an inspection—that aren’t in your best interest.

 

 

Ben Blonder

Owner/Managing Broker, Kapital Real Estate LLC

Office: 970-797-2190

Cell: 970-420-6166

ben_blonder@yahoo.com

 

 

 

It can be a daunting task trying to figure out if you are ready to become a homeowner this year. However, there are some signs that you can look for that will help you know, for sure, that you’re ready to buy a home in 2012.

Signs that you may be ready to buy a home:

√You can pay a down payment and closing costs: Your down payment will be determined by a percentage of the mortgage you qualify for. Down payments can range from 3% up to 20% of the property’s value. Your closing costs will include mortgage points, title insurance, financing costs, taxes, and other prepaid items.

√You have become familiar with the real estate market: When buying a home, you need to be somewhat familiar with the current real estate market and have a realistic view about what you need and want in a home. A Realtor® can help the more difficult aspects of buying a home.

√Know what you can afford: For knowing exactly how much mortgage you can afford, there is a general guide to go by. Your monthly mortgage payment should equal to or be less than one-quarter of your gross monthly income. This will allow your finances to go to other debts as well without putting you in a financial bind.

√You have good credit: Having your credit in good shape is a plus when buying a home. Lenders will look at your credit history to see if you are credit worthy for a home loan. If you do not know what your credit score is, you can get a report from all three credit reporting companies simply by requesting one. The top three companies that lenders will view include Equifax, Trans Union and Experian.

√Know that extra expenses will come: Extra expenses will come when you purchase a home. This is much different than renting because you will now have to pay for all maintenance and repairs out of your own pocket.

If you have all the signs that you’re ready to become a homeowner in 2012, contact a Realtor® who can help you find your dream home this New Year.

 

Originally posted at: http://homesforsaleinhavasu.com/2012/01/05/signs-that-you-may-be-ready-to-become-a-homeowner-in-2012/

REAL ESTATE AS A HEDGE AGAINST INFLATION

We haven’t heard a lot about inflation recently. However, prices have started to creep upward over the last year. As examples, here are a few categories that increased from November 2010 to November 2011:

• Food at home – up 6.2%
• Housing fuels and utilities – up 3.5%
• Transportation – up 9.2%

Here's a look at the issue of inflation and the advantages of owning real estate. The National Association of Realtors (NAR) took an historic look at the impact of inflation. Here are some inflation numbers over the past 30 years:



We can see that real estate has fared very well. The most important number is the $0 increase in mortgage amount. The study assumed that the homeowner took a 30 year fixed rate mortgage thereby locking in the housing expense for the thirty years.

NAR then looked at inflation moving forward over the next thirty years. Obviously, if it remained the same as the last thirty years the percentage increase would be the same. They looked at a low inflation scenario and a high inflation scenario. The graph below shows the findings:

Bottom Line

We can lock in the housing costs of our primary residences and vacation homes at all time lows if we purchase today. Either would be a great hedge against future inflation.

Have A Question?  Please Feel Free to Call or Text Me At 708-439-0165.  Find A Home or A Select Destination!  Subscribing to My Blog Is Appreciated!

  

Find a home at http://dtaylor.illinoisproperty.com

For Flights, Cars, Cruises, Hotels, Vacation Homes, Vacation Townhomes, Vacation Condominuims, Vacation Villas, Vacation Deals, Vacation Ideas, Hot Travel Deals, Top Destinations, Live Travel Pro, Chat-Now, Honeymoon Registry, Group Requests, FUNJET Vacations, Videos, and Select Destinations visit http://protravelnetwork.com/gracesvacations  708-596-4019

Dear Holly,

I am thinking of buying a house. My cousin said that I should really consider working with a Realtor, but I am kind of hands-on-do-it-yourself type and I think I can find a house myself. I don't even understand how Realtors get paid or who they work for in a transaction. Can you shed some light on this and offer some advice?

Many thanks,

Contemplating a Purchase in Northern Virginia

Dear Contemplating a Purchase in Northern Virginia,

True to your nature, you have asked an excellent question, one  which will ensure that you have all the information that you need to proceed.

It is very true that you can probably find a home on your own. What is not true is that you can be assured you have considered all the important aspects of buying a home, evaluated how your purchase lines up with other homes, done a Comparative Market Analysis to make sure you are not overpaying and quite, frankly, seen all that there is to see.

I find that potential buyers often think they have the same information on line that I do; the truth is, I have access to all the public listings on the MLS AND everything that you can find on-line (which is often severely outdated). Often times, I also know about properties that have not yet been listed.  If you are confident that you can 1) find a new home, 2) accurately analyze the offer price, 3) rule out all the other contenders, 4) negotiate the very best price, 5) Navigate the Home Inspection and possible re-negotiation, 6) Know what your Property Owners Report is saying and how to deal with problems, 7) Deal with the myriad of problems and issues that come up along the way--while still holding on to the job that allows you to make this purchase, then maybe you are right. Most people find that it is much more difficult and time consuming than they expected.

When you decide to hire a Realtor to represent you, you must hire one whom you trust and have confidence in. They will most likely ask you to sign a contract that says they represent you.  The contract says that if you violate the contract, you may owe them money. The Buyer's Contract also says, in many cases, that the commission that the Realtor earns will be paid by the seller--even for the Buyer's Realtor. For most Realtors, these commissions are the only income they earn. From this, they must pay all their own expenses, including taxes. This has led suspicious buyers to question whether a buyer broker will always work in their best interest (here is where the trust comes in) or just for the paycheck.  It is my experience that most Realtors are working for 2 things: 1) the commission, but also 2) your repeat business and referrals. Certainly, you are not going to want to come back to, or refer,  a Realtor who is working only for their own self-interest. 

I hope that this answers your questions. If you are considering the purchase of a Northern Virginia home, I would be love to talk to you about how I can help you with the process.

 

 If you like what you've read, please consider subscribing to my blog: 

 

I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

REAL ESTATE Q & A

Q.  How can I take advantage of today's great interest rates and home prices, when I can't sell my current home?

A.  If your housing needs have changed, welcome to the club. That's a perfectly normal situation that has motivated home sellers and buyers for decades.

In today's market, however, it's not always easy (or even possible) to sell one residence and use the equity to purchase another. That doesn't necessarily mean you're trapped forever in a home that no longer fits your shrinking or growing household... not if you can rent that home for enough to cover your monthly mortgage payment. 

Have you considered these other options for your down payment and closing costs?

• VA Financing - Little or no money down for qualified veterans, as well as active duty military.  Even if you've already used your VA eligibility in the past, you may be able to use it now.  My husband and I have used VA several times for refinancing and purchasing.
• FHA Financing - Only 3.5% down for qualified buyers, within the local loan limit.  This is very popular in today's market.
• Closing Help - FHA and VA allow sellers to pay up to six percent towards "actual costs" of the loan.  Some Conventional loans allow sellers to pay up to three percent of the borrower's closing costs.  With so many homes on the market, many sellers are willing to do this.
  
• Retirement Plan - In some cases, you may be able to borrow your own money previously contributed to a retirement plan.  Check with your plan administrator to find out if this is possible and to determine any penalties or tax obligations that accompany this action.  One of my clients is using this resource to close on his first home in January, and the seller is paying most of his closing costs.
  
• Life Insurance - You may be able to liquidate the cash value of your life insurance.  Check with your insurer to find out if this is an option for you.
• Refinance your current home - Even if you can't sell your current home in today's market, you may be able to liquidate some of your equity for down payment and closing on another home by refinancing.  For some homeowners, refinancing will lower the payment to improve cash flow, even if you don't take cash out. 
  
• Relatives - Even if you can't refinance your current home or use your retirement plan or life insurance for down payment and closing, your parents or another relative may be in a position to do so.  It doesn't hurt to ask. 
  
• Owner Financing - The sellers of some homes on the market may be willing to hold a second trust for all or part of your down payment/closing costs.  My mother recently reminded me that she and my dad sold their home with owner financing during a previous real estate meltdown. 
  

Don't assume you can't get a Conventional loan with minimal down payment.  95% loans are making a comeback in the marketplace, and some well-qualified buyers are taking advantage of them to avoid the high FHA insurance.

If your housing needs have changed, you aren't necessarily trapped in your current home by today's struggling real estate market.  This may be perfect timing for you to make a move.

Copyright 2006-11.  All rights reserved.

DISCLAIMER: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice.
________________________________________________________________________________________

Not certain this is the right time to buy or sell a home? I've helped thousands of Maryland home buyers and sellers, and I'd be glad to share my experience with you. No cost or obligation to you.

Margaret Woda, REALTOR and Associate Broker
Long & Foster Real Estate, Inc.   (410) 721-1500 Office
Direct:  (301)346-2923 or EMAIL

FREE home search online (No registration required)
FREE home search APP for your iPhone/iPad (demo)