Much of the housing news reported focuses on inventory and credit guidelines. In case you haven’t noticed housing inventory is low and credit guidelines are tight. These two headlines show up all the time and for good reason. In many markets they are both true. With interest rates still low and home prices rising in a majority of markets many homeowners appear to be hanging on to their homes. This could be to try and time the sale of their home to coincide with a market peak or they realize that if they do sell their home for top dollar they will be turning around to buy in a market with scarce homes available and paying top dollar as well. The gap between income and home affordability can be a hard one to bridge and for many potential home buyers it is out of reach due to increasing prices and a tight credit market. One story I don’t see reported much is that lending volume is down considerably in 2017 and lenders are looking for ways to increase loan applications while not taking on too much risk. That line is not an easy one to draw so instead of re-writing guidelines or coming up with something altogether new lenders will typically enhance an existing guideline to cast a wider net in an effort to capture more potential borrowers. Whenever
After agreeing on a purchase price and getting into escrow, many of my clients have questions about the appraisal. What if it comes in high? What if it comes in low? Who pays for the appraisal? Why do I need one? These questions are very common and I have found that taking a few minutes to explain the details can save folks a whole lot of time and worry. Here’s the deal if your appraisal should come back low: There are usually 1 of 3 things that can happen: 1. The seller drops the purchase price down to the appraised value. 2. The buyer comes to the table with more cash to make up the difference between the loan amount and the appraised value. 3. The buyer and seller agree to meet in the middle somewhere. Meaning the buyer comes in with a bit more cash and the seller agrees to lower the purchase price a bit. There are times when the buyer and seller can’t come to an agreement and the deal falls through but on the other hand, there are also times when the appraisal comes in OVER the purchase price. And in cases when I’m representing the buyer, that is great news to give because that means, they’ve gotten some value in the home already! For more info regarding appraisals or other real estate questions, you can
Since LeBron James is heading back to the Cleveland Cavaliers, he is putting his beachfront property in Miami on the market. And its going to cost you a mere $17 million to buy it, according to the South Florida Business Journal. The listing for the residence at 3590 Crystal View Court in Miami’s Coconut Grove has six bedrooms, 8.5 bathrooms, and a home theater in its 12,178 sq. ft sprawl. It also has docks for two 60-foot yachts. Get The Home Tour The home was built in 2010 when James bought it for $9 million. So he is going to walk away with a nice profit…to say the least. A lot of people are looking to sell right now but have a lot of questions on how it all works. Here at The GreenHouse Group we want you to feel as comfortable as possible in this process, so check out our 6 step process to selling your home and getting you top dollar- and we guarantee it! Check out the 6-STEP PROCESS Contact us today and let us know how we can help Email me directly, Sam
Looking to get your foot in the door (of your new home)? If you’re a renter who’s tired of paying someone else’s mortgage, now may be the time to pursue the American dream of homeownership. In fact, the days of needing a 20% down payment are long gone. While you can always elect to put down the full 20% or more, there are now many alternatives available. Here’s what you want to know if buying a house is in your future. In the mortgage industry, 20% down is considered the benchmark down payment for looking strong on paper as a home buyer. While this a general standard for financial strength, it is by no means a requirement, nor is it necessarily expected. However, keep in mind that your purchase offer amount – your buying power — drives negotiation. How strong you are on paper does help, but when you make an offer to buy a home, the seller of the property has no idea of your financial strength other than what your real estate agent tells them and what’s on your pre-approval letter. Need pre-approved? We can help. Get Full article Send me an Email Sam Logan
Retired NFL tailback LaDainian Tomlinson has listed his mansion near San Diego for sale at $3.495 million. Occupying more than 13 acres within the Heritage in Poway, the Mediterranean-style home offers a combination of resort-like settings and modern convenience with a main residence of nearly 10,000 square feet of living space, a guest house, a lagoon-style pool and spa, an outdoor kitchen, a basketball court and a putting green. VIEW PICS A prolific rusher, Tomlinson, 35, played nine seasons in the NFL with the San Diego Chargers and New York Jets, earning the NFL Most Valuable Player award in 2006. He ranks fifth all-time in career rushing yards with 13,684 yards and second in all-time rushing touchdowns with 145. This is an amazing home but it is out of most people’s price range but if you are still in the market to buy YOUR dream home visit GreenMeansGrow.com to see how we can help you just like we have helped many in the position you’re in right now. So contact us today and get your journey started off on the right foot. You can also Email me directly- Sam Logan
Today means we are officially halfway there and close the first half of 2014. So what have we learned so far about the housing market this year? Well, just like Carmen’s next child it has been a surprise. The housing market has fallen well short of the bullish predictions made at the beginning of the year. Below are some interesting stats that jumped out at me from several sources including emails sent to me, articles published by The National Mortgage News, The Wall Street Journal, National Real Estate Post, and Fannie Mae, and my brain. In May, 68% of Americans thought it was a good time to buy a home, while 43% thought it was a good time to sell, according to survey results released by mortgage giant Fannie Mae. 42% of all purchases have been to cash buyers. Fannie Mae guidelines are eliminating the 2-year seasoning for next-time buyers with 20% down. Now, all borrowers will be subject to a 4-year seasoning regardless of down payment. Despite the Federal Reserve tapering rates are better here at the end of Q2. May marked four straight months of 200k+ job creation. The second half should be better than the first half, according to the Realtors’ chief economist, Lawrence Yun. “With continuing job gains, and some increases in inventory, more buyers will start to formally apply for a mortgage and make an offer on
To request a guide to in your neighborhood: http://vid.us/rd2svr “Is It TOO LATE?” [San Diego] Seller’s Guide to June 2014 Home Prices. In this quick look above, there’s a sneaky trend that could be forming on the horizon … and it could mean less money for NOW seller’s in the not-too-distant future. Check it out and tell me what you see. Jesse Ibanez
Hello there, here’s my annual “Guide to 2014 San Diego Home Prices.” With help from my friends over at Zillow crunching some local numbers, I’ve laid out “4 Predictions, 1 Bonus & 1 Offer.” Our passion lies in the intersections of folks who come to us for our help of either buying, selling or borrowing – sharing our purpose & mastery around this very specialized domain of real estate consulting, and leaving them better than how we found them (in whatever capacity that is). Perhaps you’re looking to move this year, and you’d appreciate learning more about what The GreenHouse Group way means to you? If so, check us out, check me out, and Google us to make sure that we’re not speaking for ourselves when we share that we are the highest rated, most reviewed firm in San Diego County (and have been since 2009). Jesse Ibanez 858-863-
Hello fellow residents on North Park. I’d like to help you know exactly how much your home benefited from the recent +20% home value spike which just took place in the 92104 zip over the last year. How? My free Guide to North Park Home Prices which I just completed and have ready to stick in the mail for you. Interested in receiving a free copy, simply click this link right here: http://vid.us/6sbmc2 Thanks for checking in, and, feel comfortable forwarding a copy of this to anyone who you might know who could benefit from this report as well. Thanks! Jesse 858-863-
By Chris Isidore @CNNMoney October 29, 2013: 9:28 AM ET NEW YORK (CNNMoney) Home prices posted the largest annual gain since housing bubble days in August, although the month-over-month gain slowed for the fourth straight month. The closely watched S&P/Case-Shiller home price index increased 12.8% from a year earlier, the biggest 12-month gain since February 2006. But with mortgage rates significantly higher in recent months, the pace of increases is slowing. The 1.3% rise compared to July is only half the monthly increase posted in April when mortgage rates were near a record low. Still, the recovery in the housing market continues to be strong, helped by a drop in foreclosures that were weighing on overall prices. A drop in the unemployment rates is also helping to support the housing recovery. David Hughson 858-863-
The GreenHouse Group INC is a full service Real Estate & Mortgage Planning Firm located @ 3111 Camino Del Rio North, Suite 400, San Diego, CA 92108. We'd love for you to drop by and say "hello" to us here at our beautiful offices in Mission Valley. Or, if you'd prefer to drop us a line you can call us anytime @ (858) 863-0261. We look forward to meeting you!
