Posts Tagged ‘GreenHouse Group’

  • Why It Takes Years To Save For A Down Payment

    By Kathryn Vasel of CNN Money Saving for a down payment is often a major hurdle for wanna-be homeowners. And for good reason: Putting 20% down costs two-thirds of the average household income, according to a new report from Zillow. “It’s a big number,” said Aaron Terrazas, senior economist at Zillow. “Very few are saving for a down payment in one year, it’s something they do over multiple years. And for renters who have been faced with rising rent and health care costs, it’s very difficult to put away any money at all.” A median-priced home in the U.S. is $192,500, according to the report, which means buyers need to come up with $38,500 to put 20% down. And that figure doesn’t include added expenses associated with home buying — like an inspection and closing and moving costs. Home prices have been rising throughout the country, largely because of strong demand for homes combined with a shortage of available homes for sale. In many markets, home prices rose much faster than incomes, putting homeownership out of reach for some buyers. Calculate: How much house can you afford? Home buyers in California, where home prices have exploded in the past few years, are feeling the pinch the most. For house hunters in San Jose, San Francisco and Los Angeles, saving a year’s worth of income wouldn’t cover a 20% down payment

  • Spanish Revival For Sale in Golden Hill

    A beautiful Spanish home built in the 1920’s is currently for sale in the Golden Hill neighborhood, just east of Downtown San Diego. This featured home has 3 bedrooms (plus an optional detached bedroom,) 2 bathrooms; a formal dining room, laundry room and plenty of outdoor space in the back for entertaining. The historical charm of the home is apparent throughout and when you step out your front door the options are endless. Turn right for a quick trip to Starbucks, or the Saturday Golden Hill Farmer’s Market. Turn left, and hit the Golden Hill Park, local coffee shop Krakatoa, San Diego relic, Turf Club, or hip cocktail spot, Counterpoint. And if getting into the fun of the Gaslamp District, your an Uber ride away that will only cost you a couple of dollars. To find out more on this charming home for sale, or to learn more about the sought after neighborhood of Golden Hill, contact me at: –Carmen Harris, Real Estate Consultant

  • Income Based Repayment Plans

    Jun 13, 16 • Huggy • First Time Home Buyers, Home BuyersNo CommentsRead More »

    I recently saw something I hadn’t see before.  I pulled a client’s credit report and it showed a student loan balance of over 200k with $0 monthly payment due.  Now people can request student loans be deferred or request a forbearance which gives them some breathing room before they must begin repayment.  During one of these periods their credit report won’t even show a $0 due and it will indicate deferment or forbearance.  Which means seeing a $0 reported is interesting because as I found out my client is currently in repayment.  So, how is it that the creditor is not requiring a payment?  It’s because my client is in an Income Based Repayment plan and the latest calculation by the creditor yielded $0.   FHA recently issued Mortgagee Letter 2016-08 to provide guidance on calculating student loan payments when a monthly payment is not being reported on the credit report. FHA reduced the requirement of 2% loan balance calculation to 1%; however, FHA will no longer allow the use of a payment less than 1% unless it is the fully amortized payment according to the original terms of the note. Income Based Repayments-IBR less than 1% may not be used.   If you’d like to know what you can do to lower your student loan debt and maximize your home purchase power click back there on the link.  

  • Logan Heights

    May 16, 16 • CarMama • Home BuyersNo CommentsRead More »

    I want to let you in on a little secret….one of the oldest areas in San Diego with one of the best locations is about to get the credit it deserves…. ! For years now, people have either not heard of Logan Heights or found it less than desirable in terms of real estate. And in my opinion, all of that is about to change. Situated in a prime location near downtown and close to the Coronado Bridge, the area of Logan Heights and Barrio Logan is finding itself morphing into the cool, underground area to grab a bite to eat and experience some of San Diego’s most vibrant culture. With places like Border X Brewing and Salud to grab local craft beer and some of the best tacos in town, this is definitely an area you should check out. And while home prices are steadily on the uptick, it’s still one of the more affordable areas, although it’s my bet, it won’t last long. There are a few homes currently for sale in the hopper, and if you are curious to know more about them, email me at: Enjoy the area while it’s still relatively unknown! -Carmen Harris, Real Estate Consultant

  • Instant Curb Appeal Ideas

    Jan 25, 16 • CarMama • DesignNo CommentsRead More »

    For those folks out there that are looking to spice up the exterior of their home, I came across a great site to give you some simples ideas that are do-it-yourself projects and can be done on a budget! While the website provides 39 great ideas, I’ve picked my top 10 but if you want to see the entire list, visit: Paint your front door. Spray paint your existing door hardware. Give your house numbers an upgrade. Painting the trim and adding matching moulding can make any door frame look tons better. Put in some new porch lights, or upgrade the ones you already have. Add tile to a plain concrete entryway. Add some hanging planters. Cover an exposed foundation with ready-made panels. Revamp your welcome mat. Hide your a/c unit. For more home design tips or information pertaining to home ownership, email me at -Carmen Harris

  • Looking To Buy A House? Tips For Browsing Online vs In Person

    So, you’re looking to buy a house and your go to is the good ol’ world wide web? You’ve been looking online, gazing at the numerous photo galleries and cool videos with the hip background music. This is very common in today’s world, but keep in mind the perfect home for sale online rarely becomes the perfect home in person because there is so much more to consider about a property than just how it looks.  You really have to experience the home to really know if it is the right one for you and there are just things the camera can never capture.  Here are a few things to watch-out-for when looking at properties online:  Don’t trust the photos!  Some photographers use wide angle lenses and position themselves in certain places of a room to make a space look larger and ceilings look taller; avoid getting all excited later to discover that huge property was really nothing more than a tiny house with a bunch of stains on the walls and missing patches of grass.  Also, photos cannot capture the noise level near a property.  What if you found the perfect place but in your back yard is the busiest freeway in the city?  We recommend you drive-by the area or to save time, do a google street view or satellite view search to avoid moving next to a major

  • Mortgage Insurance Tax Deductibility is back!

    Jan 4, 16 • Huggy • FHA Loans, Loan ProgramsNo CommentsRead More »

    On December 18, 2015, the President signed legislation that renews the tax deductibility of mortgage insurance (MI) premiums for qualified borrowers through 2016. The deductibility is effective for purchase and refinance transactions closed after December 31, 2014. MI premiums paid or accrued after December 31, 2014 and through December 31, 2016 may qualify for tax deductibility on borrwers’ subsequent federal tax returns as follows: Borrowers with adjusted gross incomes below $100,000 may deduct 100% of their MI premiums. For borrowers with adjusted gross incomes from $100,000.01 to $110,000, deductions are phased out at 10% increments for each additional $1,000 of adjusted gross household income. To learn more about MI tax deductibility or how to boost your purchase power click here.  By David Hughson Mortgage Planner 858-863-

  • Longer Escrow Periods Starting…NOW!

    Dec 14, 15 • CarMama • Home Buyers, UncategorizedNo CommentsRead More »

    Even if it’s your first time buying a home, you probably know a thing or two about the process and timelines and like most folks, you would expect about a 30 days escrow, correct? While that was typically the case not long ago, a few things have changed recently that will affect the length of escrow. There are new TRID guidelines that have just taken place in the lending world. Part of these are new waiting periods that occur, extending escrow by approximately a week or so. It’s the holidays! If you haven’t noticed, there is less inventory in San Diego County this time of year. And while that makes it difficult as a buyer in finding the home of your dreams, there is a positive to it as well. That positive, is the fact that there are also less buyers in the market during this time of year. So once you find yourself with an accepted offer, you’ll want to account for the fact that escrow offices, banks, etc. are not open on holidays…which means you’ll want a longer escrow period to cover yourself and not be forced to close late. For other helpful real estate tips, email me at: & Happy Holidays! –Carmen Harris, ABR, GREEN,

  • Gratitude

    Nov 23, 15 • CarMama • Client Celebrations!No CommentsRead More »

    I can hardly believe the holidays are upon us. Thanksgiving is this week and instead of focusing solely on the copious amounts of food I’m going to take in, I sat back and thought about what this holiday is really all about. Being Thankful. This year is a particularily special holiday as we have family flying in from all over the country to spend it with us here in San Diego. So first, I want to acknowledge everyone coming to this year’s feast. I can’t wait to spend time with everyone! Next, I want to thank my friends. You are all like family to me and I couldn’t be as happy as I am in life without you. And to my fellow GreenHouse Greenies, you’ve all played an instrumental role in my growth as a consultant. We share ideas, laugh together, and even cry together, so it truly means the world to me to have all of you. And finally, to those clients of mine…’s because all of YOU that I am in a position to say, and really mean, I love my job! It feels so good to see others filled with joy and know that I played a role in that. Thank you for your trust, your honesty, and your willingness to go about buying a home just a little differently from the rest of the world. We

  • Budgeting For Closing Costs

    Nov 16, 15 • CarMama • Home BuyersNo CommentsRead More »

    I came across some great information for prospective home buyers regarding the closing costs needed when buying a home. According to Pat Setter over at the Union Tribune, “Closing costs are an assortment of expenses incurred during the home-buying process. Some of these expenses, for which the buyer is responsible, are lender fees (the portion the lender is charging for services), title and escrow fees (amount these companies are charging for their services) as well as advance payments for items such as homeowner’s insurance and property taxes, known as impounds. Title insurance premiums are also covered. The biggest closing fee, the real estate commission, is the seller’s responsibility. “The most important thing consumers should know about the closing costs is that everyone calculates them at a different rate,” said Jaclyn Giaquinto, an escrow administrator at Lawyers Title. There is no flat fee or percentage of the home’s cost. These closing costs will not come as a surprise. Buyers get an estimate of costs early in the buying process. When applying for a mortgage, buyers will receive a Loan Estimate. That form, which has been in effect since Oct. 3, will not only include the amount of a loan and the monthly payments, it will also include the closing costs. It must be provided to the buyer within three days of a loan application. The new Loan Estimate form is part of

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