Buyers are still optimistic of being a homeowner

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Half of the year has gone by and the real estate market is still pretty hot, especially here in the San Francisco Bay Area.  If you’re planning to sell your home now or in the future, there are buyers ready to purchase your home now and in the future.  A lot of buyers are very practical and will purchase a home in a good school district as oppose to having a other benefits the home may offer.

If you’re planning to sell your home, you want to make the home appeal to what the buyers are looking for in a home.  Don’t wait too long, there is a forecast that says home values are going to peak in 2016.

 

Contact me today and find out how you can get started.

Properties are selling like hot cakes!

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Last year, in 2013, more then half of the homes sold were on the market for 6 weeks or less.  This was the shortest time on the market since 2005.  One of the reasons why homes sold so quickly was due to lower then normal inventory levels.   In this type of market, sellers are seeing more and more offers over the asking price.  In 2013, 50% of the properties that sold last year, sold over the asking price. Most of the sales, almost all, had multiple offers to buy the property.  When this happens, buyers have no choice but to participate in an auction type situation.  The situation is changing and the inventory levels have increased, providing buyers with more choices.  As prices increase, sellers are more willing to make a move.

This is still a good time to purchase a home.  A couple of things to think about when buying a property, you might want to know how the neighborhood will fit in your lifestyle and since we are in a drought, how will the property help you conserve water.

 

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District 3 of San Francisco

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This neighborhood is located on the southwest corner of San Francisco, south of district 2, the Sunset.   It also borders the ocean and has a number of interesting places to visit like, Lake Merced, U.S. Military Reserve, Golden Gate National recreation Area, the Olympic Club, the San Francisco Zoo, San Francisco State University and more.

There are nine neighborhoods:

Lake Shore
Merced Heights
Pine Lake Park
Stonestown
Lakside
Merced Manor
Ingleside Heights
Ingleside
Oceanview

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District 2 of San Francisco

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This area, the Sunset district,  is located on the west side of San Francisco and boarders the south side of Golden Gate Park. It is mainly a residential neighborhood and is next to the ocean as well, “Ocean Beach”. The following are the neighborhoods in this district:

Golden Gate Heights
Parkside
Inner Parkside
Outer Parkside
Outer Sunset
Central Sunset
Inner Sunset

 

Courtesy of San Francisco Board of REALTORS

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District 1 of San Francisco

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This area is located on the north west side of San Francisco.  It is mainly a residential neighborhood and is next to the ocean, “Ocean Beach”.   The following are the neighborhoods in this district:

Central Richmond

Inner Richmond

Outer Richmond

Sea Cliff

Lake

Lone Mountain

Jordan Park / Laurel Heights

Presidio Heights

 

District 1

Courtesy of San Francisco Board of REALTORS

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San Francisco, California, the City by the Bay

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There are so many different areas of San Francisco to see and enjoy.  Every district has something  unique.  Whether you’re looking for great places to eat, or going shopping, or looking some  for entertainment, or just about anything, San Francisco has it all.  

                                                 SF Overall City Video

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California prices are up!!

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If you’re thinking about selling your property here in California, now might be a good time for you to do so.  Median home prices are up in most, if not all of the counties in California.  Locally,  San Mateo and Santa Clara counties have low inventory, but is increasing, so there would be more buyers for your home and you’ll get a higher price for now.  It’s been about approx. 7 years since the great recession and finally we see an improvement for our state.

If it’s the right time to sell, don’t forget to use a REALTOR.  You’ll be glad you did.  There are so many things involved in a sale, you need a REALTOR to help you get the best price for your home, with least amount of stress.  Believe me, if you don’t know what you’re doing, it will cost you in the end.  The fee is still tax deductible until the government takes it away.  Remember when commercial property mortgage payments and your interest paid to credit cards were tax deductible ?  Well not anymore.

 

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Thinking of selling your property?

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Every property owner have choices to make when it comes to improving the property. Unfortunately, most of the improvements are done prior to selling the home.  When making plans to sell your home, you want to get the best price, right?  Well, there are a few things you can do to increase the value of the property and there are things that won’t. However, if you’re planning to keep the property until you die, then it really doesn’t matter what you do to the home as long as it makes you happy.

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Prequalifying for mortgage – Determine how much house you can afford

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Provided by Guest Blogger

Taking out a mortgage loan is definitely a huge step. Before you go out for house-hunting, it’s better to assess exactly how much you can afford. To assess the affordability, it’s advisable to opt for prequalification. This actually helps to plan ahead and take out a reasonable mortgage loan.

How home buyers may decide their affordability?

Now, the question may arise, how home buyers may evaluate their affordability. The answer includes lots of aspects. As a prospective home buyer you need to go through some essential phases and decide the exact amount that you can borrow. Before, there was a formula that numerous people used to find out the affordability. As per the formula, a person is capable of borrowing three times of his gross annual income. However, in the changing economy, the formula doesn’t work enough. So, it’s better to have a more realistic approach. Here: http://www.mortgagefit.com/calculators/howmuch-afford.html is how homebuyers may determine the amount they can afford.
1. Prequalification and preapproval are essential: When it comes to deciding the affordability, nothing can be more important than prequalification and preapproval. However, preapproval is supposed to be the most essential one. Most of the lenders find it safe to deal with borrowers who are preapproved. For both the formalities, you need to contact lenders. You need to provide your basic financial details to the lender. After evaluating those details, the lender will decide approximately how much you can afford to borrow. You may ask for prequalification letter as well. The letter will officially state that the evaluations have been done on the basis of your credit score. To be on the safe side, don’t only depend on prequalification. You should also opt for preapproval as this will specify that the loan amount is officially guaranteed. The lender approves the amount after thoroughly checking your credit history, financial condition and other important financial details. So, preapproval is more accurate. Make it a point not to miss these 2 formalities to be sure of your affordability.
2. Mortgage calculators help: Mortgage calculator is the tool that will make the evaluation even more faster. Numerous financial websites offer the home affordability calculator for the convenience of the borrowers. These calculators can be used for free and they are accurate also. You can also use the mortgage prequalification calculators. These calculators make it easier to estimate the price of the property that you can afford. The estimation will be done on the basis of your debt profile and total income. You’ll have to provide your gross annual income, your monthly debt payments, property taxes, the interest rate and loan term to calculate what you can afford. The calculators don’t take much time for the evaluation either. Just search properly and find out the best calculator from a trustworthy website.
3. Checking the credit history helps a lot: The credit history of the borrower matters a lot. Wherever, you’ll decide to take out a mortgage the first thing that your lender will check is your credit report. Your credit score will let the lender assume, exactly how much you’ll be able to borrow and pay off responsibly. This is actually an essential formality for every lender. Your credit score will somehow let you know what your financial standing is. A credit score, as high as 750, proves that you’re financially stable without much debt problems. So, with a healthy credit score, you can easily convince the lenders and get affordable rates. You can check your credit report for free. Just request the three major credit bureaus Experian, Equifax and TransUnion for a copy of your credit report. If your credit score isn’t that strong, then it’ll be better to improve your score first. Otherwise it may turn really difficult to get preapproved for a reasonable mortgage loan.
Following these 3 tips will actually help to decide your affordability and get prequalified for your desired loan. So, just follow these tips rigorously.

 

What do the buyers say?

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HAPPY HOLIDAYS EVERYBODY!!!  It’s that time of the year when real estate sales starts to slow down and everybody is shopping for gifts instead of homes.  However, there are still buyers out there looking to purchase a home before the year is over.  If you’re thinking of selling, find out what buyers want and don’t want.  This could help you get your home sold faster.  If you live in areas that have increased in value, you may want to cash in now.   If you’re having problems keeping your home, at least you will not be responsible for paying taxes on the loan you didn’t pay off.

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