It seems there’s a new scam that pops up almost every day. Whether it’s someone calling about the viruses on your computer, is to your Microsoft account, or wanting you to send money to Nigeria, there will always be someone out there looking to scam you. It’s important to know what’s going on so that you can prevent it from happening to you. [Read more…]
When looking for a house to buy you’re probably not in the market for something that looks like it’s ready to fall down, but, are you passing up a virtual goldmine? Think of it this way, instead of shopping for a dream home, maybe you should be out looking for a dream a discount. [Read more…]
Scams are out there in full force, now more than ever. We do everything we can to protect ourselves just when we think we have a handle on it, something comes along that we haven’t thought of before and we need to learn and prepare for that scam.
Scams are all too common in the real estate world but there are a few common ones that we see on a regular basis. Here are some of the three most common real estate scams to look out for. [Read more…]
Buying a home in the Tri-Valley area? Maybe it’s time for an upgrade? But there are a lot of questions to be answered. Here are some of the most common from people moving to a bigger home. [Read more…]
This is a common concern right now; we’re scared to sell because we also have to turn around and buy. It’s a great time for agents because houses are selling so fast! Hey, wait a minute, not so fast. That’s not necessarily true because inventory is down, competition is extremely high, and a lot of homeowners are in the same situation, scared to sell because they have to turn around and buy. Sure, if you are a seller going to the rental market or moving to a different location altogether, selling is easy. Heck, you practically don’t even have to put a sign in the front yard before the home is sold (as long as it is priced correctly). [Read more…]
If you’re in the market for a new home in San Ramon, a condominium can be a charming and convenient option. Condos are often less expensive to buy than houses or townhouses, and they can offer conveniences you might not otherwise be able to afford. Yet there are caveats to condo ownership, as well.
Five things to think about before buying a condo: [Read more…]
There is not a person we have met out there who does not want to be at their best health. Now more and more people are doing whatever they can to feel and look better and hopefully even younger. Luxury home buyers with busy schedules are now looking for homes that have amenities to help them on their health journeys right at home. [Read more…]
That is, if you have the cash to purchase a property, is there any reason why you wouldn’t pay cash?
In today’s hot market, especially in the Oakland and Tri-Valley area, cash offers can be king but, there are reasons why you might not want to pay cash. I know that many sellers are more likely to accept an offer of cash, but the seller will get the money regardless of whether it is financed or all-cash. Cash offers can tend to close quicker but you really needs to look at all of the details of a purchase and sale agreement including terms and contingencies.
In 2016, 23% of US homebuyers pay cash for their properties. That’s still in the minority. There may be some good reasons not to pay cash.
If you just have enough cash to pay for a house, you may not have any left over for repairs or emergencies. If you have the cash, it might be a good idea to set it aside so that you have at least three months of housing and living expenses should something unforeseen happen was losing a job or having medical issues. If all of your money is tied up into the house, you might end up losing the house to pay for unforeseen items.
A great mortgage.
You might have qualifications for an excellent mortgage. According to a recent study by Money magazine, Generation X and millennial’s are considered to populations with the most potential for growth as borrowers. Taking on a little bit of debt, especially for tax purposes great terms might be a better option for your finances overall.
A better investment.
Buying real estate is an excellent investment that if you have all cash, you might make a better investment than putting it elsewhere. Maybe investing in the stock market, mutual funds or a personal business might be a better option for you in the long run.
Most homeowners will receive some sort of mortgage tax breaks on the interest paid to the lender. Depending on how much you owe and your terms, you could be deducting quite a bit on your taxes.
Home values have no guarantee of increasing even though overall, the trajectory is good. Home prices rise and fall with the economy so unless you’re planning on hanging onto the house for 10 to 30 years, you might be better off investing that cash elsewhere.
I’m not telling you to not get a mortgage or to not pay cash, but there are pros and cons to both. It’s important to talk to your financial advisor and even a lender about the best options for you at this stage in life.
Ready to get started looking at homes? Give me a call anytime.
Zero down home loans are not as popular as they were five years ago but they are still around. Lenders have gotten a lot more strict when it comes to qualifications and eligibility, so buyer that comes along wanting a zero down home loan does not look too attractive to potential underwriters. Having additional funds, reserve funds and a down payment is much more attractive and may offer lower interest rates and better terms. [Read more…]