Tag Archives: home buying

Right from the time you start looking for a home to the time you close escrow, there is a lot to consider and many decisions to make. Making mistakes along this journey is not something new. But with the current financial standards, making mistakes will end up wasting your hard earned money. You need to avoid the mistakes at all costs, but how? Below are some five mistakes that are very common among home buyers, and ways to avoid them Expecting to negotiate a lower a price after making a […]

With the housing recovery now well underway  housing starts are up; builder confidence is at a 7-year high; there are fewer foreclosures; and home prices continue to rise  you may be inspired to get off the fence and buy that dream home. But are you really prepared? Here are a few things you may not know  and what you don’t know could potentially cost you. Credit score When was the last time you checked your credit score? Any idea how good or bad it is? Are there any errors on […]

Foreclosure filings which include default notices, scheduled auctions, and bank repossessions—increased 2 percent in May, rising from a 75-month low in April, according to the latest foreclosure report from RealtyTrac. Still, foreclosure filings are down 28 percent from a year ago. The May increase was largely attributed to an 11 percent increase in bank repossessions. Foreclosure starts also ticked up 4 percent in May over last month, with 26 states posting increases, according to the report. “Foreclosure activity continued to bounce back in some markets where it may have appeared […]

The millennial generation is showing differing housing tastes than their parents generation. For example, millennials say they prefer smaller, functional homes than sprawling “McMansions,” and they’re not interested in “cookie cutter” homes that look like everything else on the block. Instead, this generation of do-it-yourselfers wants to put their individual stamp on their home and make sure it reflects them and their tech-driven lifestyle. Millennials are the next big demographic of home buyers emerging in real estate. “It’s critical that real estate professionals understand what embodies a quintessential home for […]

O’Brien Homes started holding a monthly housing lottery for its 228-unit development called Fusion in Sunnyvale, Calf., after seeing throngs of prospective buyers camp out at the openings of other new condo complexes in the area. “We didn’t want that,” said Susie Frimel, a spokeswoman for O’Brien Homes. “We wanted our customers to be pleased with the process.” Each month, as new sections of the development came under construction, roughly 50 buyers would show up at O’Brien Homes’ sales office hoping to be picked for one of the 10 or […]

As the housing market continues its recovery, prospective home buyers in some areas may have found, much to their dismay, that the inventory of houses for sale is somewhat limited, and sellers are receiving multiple offers. A recent analysis by the real estate site Zillow, for instance, found that while some improvement has occurred, the inventory of homes for sale nationally in April was down about 14 percent from the same time last year. The National Association of Realtors, meanwhile, also reported a decrease in inventory in many markets compared […]

If you are thinking about buying a home, but you’re still a bit hesitant, then here is some great information that may help you decide to do it now. True, the economy appears to still be on the downside and we are seeing a lot of unemployment, but did you know that if you are stable enough financially, then now might be the right time to invest in a home. Hopefully the information presented here will open your eyes and understanding about the current status of the real estate industry. […]

How much wiggle room you give yourself when bidding or asking (relative to the listed price of property) in a competitive real estate market can make or break a transaction. Too much and you might lose the deal. Too little, and you could “leave money on the table”. To avoid morning-after regrets, plan your math in advance. After you have subtracted the emotional components from the equation you will have a better chance of putting a fair deal together. And during what might normally be a stressful process – the […]

That depends largely on your income. Experts suggest your mortgage payment be no more than 28-35% percent of your monthly income. This income-debt ratio is the percentage of your monthly income dedicated to making your monthly mortgage payment. If you want to maximize your home buying potential, you can assume that more of your income will be tied up in your monthly mortgage payment. Let’s assume your gross income is a $100,000 a year and you have $20,000 for a down payment. You conservatively elect to spend 28% of your […]

Unfortunately, it is impossible to give an affirmative answer, either way, about buying or renting. Conventional wisdom assumes that property values always go up. In reality, home value is determined relative to many ‘x’ factors, which are susceptible to fluctuation. In addition, to turn a profit on a home those x-factors have to be consistently in the positive over the duration of your mortgage. However, if you want a perfect place that brings a nice array of amenities, including scenic views, and parks where families can play, then this Seabridge […]