Budgeting for buying a home can be difficult enough when you’re just weighing mortgage options and a purchase price. But there are many other factors that go into the cost of home ownership. Some of them are one-time expenses that you’ll pay during the home buying process, while others will be recurring costs for as long as you own the home. Continue reading
There’s no more important time to work on your credit score than when you’re about to apply for a mortgage. Improving your credit can save you a ton of money – we’re talking about thousands of dollars over the life of the loan. Here are some of the actions you can take that will have a notable impact on your score. Continue reading
With low inventory in Santa Cruz County and the Bay Area, many homeowners are afraid to sell their homes because they’re concerned that they may not be able to find a new one. This can be a real problem, but if you are seeking to sell—whether to upgrade or find a new neighborhood—there are a few ways to combat the low inventory. Continue reading
When you purchase a home, a title company will research the property to ensure that you are the rightful owner. They’ll look through records for anything that might cause problems—ownership disputes, restrictions, unpaid taxes, liens, and more. Their goal is to document the chain of title and identify any issues that could become major problems down the road. Continue reading
Do you need more room for your growing family, or do you prefer to upgrade to a new home rather than renovate your current one? Whether it’s due to financial changes, neighborhood developments or something else entirely, moving can be both exciting and stressful, particularly when it comes to determining your buy/sell strategy. Here are a few options homeowners often choose from when they’re moving up. Continue reading
It’s a frustrating, common problem in Santa Cruz County created by today’s competitive real estate market. Empty nesters, relocation or move-up buyers are ready to buy, but feel stuck. They believe they can’t win the house they want in a multiple offer situation without first selling their current home, but don’t want to deal with the burden of a double move. Continue reading
Proximity to transportation can have both positive and negative impacts on home values. In Santa Cruz County the railroad line is a feature not many residents think much of unless they live nearby or enjoy walking along it to stretch their legs or get around town.
For those who do live near the rail corridor or are thinking of purchasing a home nearby there is much to consider. Continue reading
If there is a leased solar system on a home that you are considering buying, there are several things you should consider.
Ask for a copy of the lease paperwork and the current homeowner’s utility bills. You should compare the lease payment versus the savings expected. Let’s say the departing homeowner had a large number of people living in the home, so they opted for a large system, which means a large lease payment. This made sense for them because of their large electric bill. But if a single person is considering buying that home, that lease payment may be more than their electric bill would ever be. If so, and if the solar company won’t agree to down-size their system, this could be a deal-killer for that buyer. Continue reading
I’ve always told my clients that the closing date is a “target date” because things can sometimes come up at the last minute that can delay the closing a day, or a week, or sometimes even longer. It seems like it’s RARE to close on time nowadays.
The reasons for the delay are many. Continue reading
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Have you been waiting for the paint to dry? Many have been watching the housing market and waiting for a decrease in prices. Sellers are holding out to see when the market peaks while buyers are waiting for homes to become more affordable. The market is slowing, as it often does this time of year, but prices aren’t likely to cool substantially any time soon though there are a number of unknowns looming in the distance like the presidential election and rate hikes.
Those that have been following the market this year have likely noticed that every article contains commentary about affordability, sparse inventory and low interest rates. Squarely in the fourth quarter of the year, many experts are agreeing that the new housing crisis appears to have arrived, and it is all about supply. Continue reading