Archive for the ‘How To Buy A Home’ Category

  • The Election and Down Payments

    By Rob Chrane – CEO of Down Payment Resource The election has left Republicans in control of the House, Senate and White House for the first time in over a decade. The new alignment provides a viable path to far-reaching changes in federal housing policies affecting housing finance and housing markets. Increasing homeownership is at the top of the agenda for the new Congress and Administration. Changes may be in store for the Dodd-Frank Act, including restructuring or terminating the Consumer Financial Protection Bureau and raising the threshold for tougher bank regulation above its current $50 billion asset level. President-elect Trump has promised to reduce regulations, across the board, and financial institutions are likely to embrace his deregulatory stance. In housing finance, policy-makers may focus on reducing risk. Programs like FHA may see major changes and the role of GSEs will continue to evolve. The role of government in housing markets and housing finance could change dramatically. If so, it will take at least a couple of years, but it’s too early to tell because this wasn’t addressed in detail during the campaign. Only by increasing the numbers of first-time buyers can we reverse the multi-year decline in homeownership. Saving for a down payment continues to be the greatest single barrier keeping first-time buyers from becoming homeowners. Low down payment programs and down payment assistance are effective and critical strategies

  • Scariest Situations for Home Buyers & Sellers – Part 4

    Scariest Situations for Home Buyers & Sellers – Part 4 So, where are we?  We have an accepted offer, the home inspection went well, we successfully negotiated a Request for Repairs, the appraisal supported the purchase price, the buyer has removed all contingencies and now it is an unconditional offer.  The finish line is in sight.  But, there are still a few more “scary” steps ahead of you.  For one, the lender needs to get the final loan documents to the escrow company so the buyer can meet with a Notary to sign everything.  Now that part can be a little intimidating and nerve-racking for a buyer.  That is why it is very important for the loan officer to review the Estimated Settlement Statement or Loan Estimate with the buyer(s) BEFORE they sit down with the Notary.  This ensures a less-stressful, and less-scary, loan signing.  Next is for the buyers to conduct the Final Walkthrough of the home, contractually this is to be done 5 days before the close of escrow.  This is important to confirm that the home is in relatively the same condition as when the offer was accepted and no damage was done when the seller moved out.  Now the seller is also supposed to remove all personal items from the home, but often some things are left behind, like yard products (fertilizers, bug sprays, etc.)  And while the seller is required

  • $100 = $20,000

    A recent study by the personal finance website SmartAsset shows that having a roommate in San Diego will save a renter $6,768 a year or $564 a month.  While that certainly makes financial sense for renters what many prospective home buyers may not realize is that $564 in monthly rent could be paid to them as a future home owner.  This will dramatically boost their purchase power because with rates so low right now $100 = $20,000 in purchase price. Let me explain. Let’s say your budget shows you homes for sale in the $350,000-$400,000 range.  Knowing that you could rent out a room for $564/mo means you could look at buying a home in the $450,000 – $500,000 range.  I’m guessing that increase would really open up a lot of properties that weren’t previously available to you.  And this is a very conservative estimate for roommate rent given that the average rent for two people is $1,743 here in San Diego.  I know from personal experience that you could rent out a room for much more per month.   To find out exactly how much your purchase power would increase given a rental income boost click this link:  I Want To Know What My Purchase Power Is.   By David Hughson Mortgage Planner – Rental Income Expert 858-863-0264  

  • Scariest Situations for Home Buyers & Sellers – Part 3

    Scariest Situations for Home Buyers & Sellers – Part 3 Thanks for checking in with me.  This is Part 3 of a 4-part series, so I invite you to check out the other videos, I know you will find them informative. So, in the scenario we are talking about, we are already in contract, we have conducted the general home inspection and after some anxious anticipation, the appraisal report comes in!  And……it is UNDER value!   Ouch!  No scarier situation than that, especially for a first time home buyer or first time home seller.  So what now?  Well now we have a few options, as a buyer, we will try to negotiate the contracted price DOWN to the appraised value.  As a home seller, we would negotiate hard to hold to the contracted sales price and have the buyer come in with the difference.  Now, how this goes depends on many variables, how much the buyer has for a down payment,  if it is a 100% LTV VA-buyer, no much chance the buyer can come up off of the lower appraised value, and as a seller, if there were multiple offers, we can always cancel the contract, if the buyer doesn’t want to come up with the difference, and go back to the market for another offer. If you are looking for someone who will treat your money like I was

  • Scariest situations for home buyers & sellers

    Scariest situations for home buyers & sellers. Contact me for more information, I am happy to help you buyer or sell real estate in San Diego. Craig Sutliff The GreenHouse Group Craig@GreenMeansGrow.com 619-857-

  • Which Season Is Prime Time For Homeselling?

    Sep 18, 16 • Huggy • Home Buyers, How To Buy A HomeNo CommentsRead More »

    By RACHAEL EVERLY Rachael Everly is a student in Miami, Florida. Follow her on Twitter or Facebook.  Email Rachael Everly. Buying and selling real estate requires juggling different dynamics and market conditions, planning, calculating and the ability to forecast problems to ensure a lucrative deal.There has always been some doubt surrounding the best time of the year for selling a home, which mainly depends on the season that will give a property an awe-inspiring look, adding to its perceived value. Other factors might come into play such as space, location and accessibility, but the right season can provide a better look for homesellers and highly increase their chances of closing a deal. When is the right time to sell? The art of choosing a particular season to sell doesn’t require a meteorology degree. Before clients decide the time is right, they need to delve in and do thorough homework about market conditions with a real estate agent. During recessions, the number of homebuyers is relatively low, and the market trends with a low demand pattern, which causes prices to fall. But when the economy experiences steady growth and interest rates are low, demand for buying increases, and this eventually causes prices to rise as well. Choosing the right season Some claim that the spring is the best season, and others swear by autumn. Either way, buyers’ decision will ultimately be affected by personal factors and economic conditions. The best way to go about selling in a particular

  • Learn How to be a Millionaire! The Millennial Millionaire Maker

    Learn How to be a Millionaire!  The Millennial Millionaire Maker Please contact me at: Craig@GreenMeansGrow.com Cell: 619-857-

  • Is This Your Best Chance Yet To Buy A Home?

    For most first time home buyers the biggest challenge they face is coming up with the funds needed for down payment. This leaves few financing options that can mean many wait on the sidelines until the money needed is saved.  Here in San Diego county that can mean the difference between home ownership and being a life long renter.  With increasing enhancements to home loan guidelines being rolled out there usually won’t make a big difference but when several of these improvements are combined it can be a big boost to a person’s purchase power and dream of home ownership. Recently, Freddie Mac made some reductions to their Home Possible MI factors at 97% loan-to-value.  The table to the left outlines the advantages of the Home Possible program over the Home Ready program.  Combined with their updated income limits higher cost areas like San Diego County are now more accessible to those in need of a low down payment and lower monthly payment option.  This could be a great alternative to FHA financing because it could offer a better long term loan option.  Is this your best chance yet to buy a home?  To find out click that link in the previous sentence and let’s find out.  With the right mortgage plan you’ll know when your dream of home ownership will be a reality.   By David Hughson Mortgage Planner

  • How to Choose an Agent

    How to choose a real estate agent to help you buy or sell a home. Most people start their search online or seek the advice of friends. Some people will seek out top producing agents or start at some of the big companies such as Century 21 or Prudential. But, will that guarantee you of an exceptional agent, or even, an exceptional experience? Experience shows that what matters most is finding an agent that you have a personal connection with, and who is going to have a laser-like focus on your needs and do everything to achieve the goals. If you’re looking for an agent that will work tirelessly for you, then look no further. Please give me a call or shoot me an e-mail and I will provide you with a free 90-minute consultation to find out exactly what you’re looking for, what is important to you, and to see if we are a good fit for each other. There is absolutely no obligation from this meeting, what really drives me is to leave people better than I found them. I look forward to hearing from you. Craig Sutliff Real Estate Consultant & Mortgage Planner The GreenHouse Group P: 619-857-4954 E: Craig@GreenMeansGrow.com BRE Lic# 01735288, NMLS ID#

  • “How To Utilize The Contract To Affect Timing? How Does Your Agent Communicate? How Do I Price My Home?” #AskJesseHow Show | Episode 2

    #AskJesseHow Show | Home Buyer & Home Seller FAQ’s | Episode 2 http://www.TheGreenHouseGroupInc.com/FAQ This episode we talk about “How To Utilize The Contract To Affect Timing? How Does Your Agent Communicate? How Do I Price My Home?” Gang, Need your help here. First off, I’m looking for some feedback to see how I can make this series work best for you. Suggestions, format, etc. Thank you in advance for that. Secondly, I’m looking for some questions for our next show. I’d prefer they come from you, our immediate crew, versus “the internets.” Use this post, use twitter, use facebook, use instagram … which ever platform works best for you, by simply using the hashtags #FTHB (for first time home buyer) or #FTHS (for first time home seller) #FAQ’s (for frequently asked questions). Others that will work: #homebuyers #homesellers Looking forward to this being a cool tool for both of us: you to get some good questions answered and our opportunity to swim a little further upstream and meet you where youre at. On Your Team, Jesse

The GreenHouse Group, Inc. | Real Estate Consulting & Mortgage Planning. "Moving People With Purpose."

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