What is Market Value
To determine pricing first one should determine present market value. When assessing residential property four major factors account for I’d say about 75% of the value:
- Location · Living area size · lot size· condition/renovations of the property.
Other factors that come into play are the number of bedrooms, baths, bonus areas, in-law potential, color scheme, floor plan, pool, fireplace, single or multi story, attached or not plus more. Read more
Last Chance for SSF Home Owners…
Last chance for all you SSF home owners to get your sewer laterals replaced and have the City pick up half the tab. The City of South San Francisco introduced a program to aide home owners in replacing those pesky sewer laterals due to widespread overflow in the city sewars during heavy rains. SSF will pay 50% of the bill or a maximum of $2500.00 towards the replacement of your sewer lateral. Read more
Don’t Get Caught with a Bad Agent
If you are in the process of selecting a real estate agent to represent you in the sale of your home, or in the purchase of your home, you owe it to yourself to be very selective on who you choose to represent you.
A good agent, who is knowledgeable, skilled and has a good team behind them, is a Read more
Ratified or Terrified?
My first time home buyers became terrified when their offer ratified! They had submitted few offers on other properties and were overbid every time. Is it the market we’re in today? Is it not expected for the first offer to get accepted?
What has been your experience?
Remodel or Remodeled?
Would you buy cheaper and remodel or buy remodeled? Does it make sense for the first time home buyers to try to save money by buying a property that needs some TLC and remodel it themselves? How much TLC is reasonable? Just some thoughts and concerns! Do you have to be a good handyman to buy a fixer upper? Why do we realtors use “Contractors’ Special” comment on MLS? Should a non-contractor buy a fixer upper? Ok, what are your thoughts?
Your Credit History
Underwriters look carefully at your past payment record as shown on your credit report. Credit reports are ordered at the beginning of the loan process and again just prior to closing to insure that you have not incurred any additional debt that could affect your qualification for the loan. That is why it is so important that you avoid buying anything large until after your loan has closed escrow. Read more
Is it a good time to Move Up?
Everyone’s question these days seems to be “Is now the right time to buy”? I have come up with a chart that helps you make the decision if now is the right time to buy!
Current Home New Home
|
Sell |
Spread (What it would cost you to move) |
Buy |
|
$100K |
$100K |
$200K |
|
(Value appreciates 10%) $110K |
$110K |
$220K |
|
(Value depreciates 10%) $ 90K |
$ 90K |
$180K |
The above chart is an example of a “move-up” buyer determining whether it is a good time to purchase an upgrade property.
Now ask yourself this question… “When does it make more sense to move up- when prices have gone up less or when they’ve gone down more?”
If you have answered when prices go down, you are the lucky winner!!!! You profit the most when the spread is less. So whether you are discouraged that you don’t have enough equity or down payment in order to move, ask yourself this question….
“If you don’t feel you can move up comfortably now, how will you be able to do so when prices go up further?”
***One last thing to ponder… When interest rates go from 6% to 7.5% the prices of homes would have to go down 14.7% in order to keep the same monthly payment.
HOA Dues: Junk Fees or Good Budgeting?
Many people are under the belief that paying the HOA Dues is like throwing money out the window. I am not sure so let’s review the costs of Home Ownership that is covered under the HOA Dues.
The following costs are approximate present day costs for a 1200 square foot home and a 2 Bedroom Bay Area Condo Read more
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