Get Smart About Home Buying
Do your research More and more buyers are turning to online listings in their real estate search. You may also want to drive around the neighborhoods you’ve been considering to find for sale signs and open house schedules. Don’t be afraid to ask plenty of questions: is the home in a flood plain? Have they ever had problems with pests? …
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Mortgage Rules You Should Know About
The latest mortgage initiative released by the Consumer Financial Protection Bureau (CFPB) is for the purpose of helping consumers stay informed about the loan options that are available to them. The Know Before You Owe rule has replaced four mortgage disclosure forms with just two: the Loan Estimate and Closing Disclosure, which can be viewed here. Here are a few …
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Do I Need Professional Listing Photos?
The answer to this question is almost always YES. When the typical buyer looks at your listing, the first thing that will draw their attention is the photos you have chosen to represent your home. Listing photos can either encourage more offers, or inhibit them. With an increasing number of buyers turning to online listing services to shop for homes, …
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The Latest Market Activity in San Diego County
- Neighborhoods and News
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- January 25, 2016
Although San Diego County has seen a few months of slowing real estate transactions, recent market research carries good news for buyers, sellers, and real estate professionals alike. In a press release from earlier this month, the Greater San Diego Association of Realtors found a significant increase in home purchase prices for December 2015. Although current statistics have already shown …
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What to Expect for Closing Costs as a Buyer
Closing costs are the fees paid at the end of a real estate transaction when the title is transferred from seller to buyer, which are usually required to be in the form of a cashier’s check. According to federal guidelines, all closing costs associated with residential transactions financed by a mortgage must be documented within an HUD-1 form, a standard …
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Choosing the Right Home Insurance
The first thing you’ll want to do before shopping for homeowner’s insurance (ideally before even buying the home) is review the home’s insurance claim history report, which can either be obtained from the seller or one of the two largest insurance databases: CLUE and A-Plus. This is the best way to evaluate previous damages you may not have been aware …
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Understanding the Property Exchange Process
You’re probably already familiar with Section 1031 of the Internal Revenue Code, and it’s particularly useful to know when selling real estate. A 1031 exchange refers to the trade of one business or investment asset for another—in this case, property. If the exchange falls under certain conditions, both parties may be able to receive tax exemption for it. Below are …
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Save Up For That Down Payment
In a few previous posts, I discussed how putting down 20% of the listing price helps buyers construct stronger, more competitive offers. However, 20% may be a good-sized chunk of your income. Here are a few tips to help you save your money and be able to present a great offer to buy the home of your dreams. Start budgeting …
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2016: A Great Year to Purchase a Home
There’s more to choose from Home prices are expected to rise only 3.5 percent by the end of 2016, which is at a slower rate of increase compared to what the U.S. economy has seen in previous years. Because sellers have experienced price appreciation, they may be more likely to put their homes on the market sooner in order to …
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Even More Ways to Compete with Multiple Offers on Your Dream Home
Avoid too many contingencies The best way to explain a contingency is an “if/then” statement- “Only IF these conditions are met, THEN I will go through with the purchase”. One of the most common contingencies found in buyer offers is an inspection contingency, which requires a thorough home inspection before any closing documents are to be signed. Although this …
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