Posts Tagged ‘san diego’

  • What Is A Home Inspection?

    Your offer has been accepted, you’ve made your earnest money deposit, and now you are beginning your investigations.  Next is the home Inspection: Per Wikkipedia:  “A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections.”p tonspection?ction.ssues with the house you are about to purchase so that you can decide whether to move forward or The most important step to take during your investigation period, is doing yourself the biggest favor and exercising your right to a home inspection.  A home inspection is kind of like when you visit your general practitioner for a physical.  After some tests, you will be told the results of your overall health, what to watch-out for, what needs immediate attention, and when to seek the advice of a specialist if necessary.  A home inspection is not about figuring-out if the property is worth what you are paying for it, that is an appraisal which we will cover at a later time, it’s not about focusing on aesthetic things like a poorly maintained carpet/floor/yard.  An inspection is for you to know if there are any alarming issues with the property so that you can decide whether to move forward or walk-away from the transaction.  While inspectors do a thorough investigation of the

  • How to Keep Your Tax Base When Selling Your Home And Buying A Replacement

    I was holding an open house this weekend where I met a couple who express how much they’ve dreamed of selling their current home and buying another but don’t do it because they are afraid their property tax will go up the roof.  I always recommend people speak with a tax professional for more accurate information, but I was thrilled to be the one to tell them, there might be hope.  Say hello to proposition 60 and 90!  Proposition 60 allows transfers of base year values within the same county. Proposition 90 allows transfers from one county to another county in California, it is recommended that you call your assessor for verification that your county is a participant. But there are requirements to be able to qualify, here are a few: You, or a spouse residing with you, must have been at least 55 years of age when the original property was sold; the replacement property must be your principal residence; the replacement property must be of equal or lesser “current market value” than the original property. So there you have it!  You can sell your current home and take your tax base with you. Did you already sell and buy the replacement home and this information just came your way?  It might not be too late to qualify, there is still hope!  For more information about proposition 60/90 contact

  • Tick Tock. Is 35 The New 25?

    From: Down Payment Resource Delaying life events like getting married and having children is a real thing—and it matters in housing. While we’ve been waiting for the market to rebound, the Mortgage Bankers Association’s new housing demand report concludes that between 13.9 and 15.9 million additional households will be formed by 2024 and that surge will be driven by Hispanics, Baby Boomers and, yes, Millennials. That would mean a growth rate of 1.6 million households per year which would make the next decade one of the strongest in housing in U.S. history, potentially rebounding the homeownership rate to 66 percent. However, we know that even with household formation growth, potential buyers have their home buying challenges. Redfin’s latest home buying concerns report showed that making a down payment moved up on the list of top five concerns for buyers, replacing rising mortgage rates and buyer fatigue. Plus, chief economist Johnathan Smoke argues that access to credit really hasn’t improved for first-timers as much as we thought it would have by now. According to a recent report by Moody’s, housing finance agencies (HFAs) are in a strong position to help millennial homebuyers as more look to buy a home. Of the 87.5 million millennials 24 to 34 years old, there are 15 million millennial households that do not own a home, “presenting a sizable untapped market for HFAs,” Moody’s said. The report states

  • Are You Calling The Shots?

    If you are a home buyer and are receiving help financially from a family member let me first say, you should consider yourself very lucky! I’d almost go so far as to recommend buying a place with a guest room at the very least, if not that “mother-in-law” apartment over the garage. What I’m getting at, is a little something call, Expectations. Before the process of the home search even begins, I advise you to have a really serious talk about who going to be the real decision maker. In my experience, parents are often very willing to gift their children funds to buy a home but then with that can come many desires of their own. Other times, rich “Uncle Joe,” gifts some money and never even sees the place that is purchased. While both scenarios are perfectly acceptable, what doesn’t work is the home buyer’ misinterpretation of what the money really means when it comes to making decisions. So, before accepting and money it’s best to have an honest conversation about the involvement of the gift giver. If they have the final say, it’s best to include them in the entire process. From looking at homes, to writing offers, to attending the home inspection. Not only will this save many hours for everyone, it will ensure there are no surprises that occur after a lot of time and

  • 5 Major Things to Avoid That Can Jeopardize Your Pre-Approval

    Aug 10, 15 • Fat Ashton • Things to Look Out ForNo CommentsRead More »

    5 Major Things to Avoid That Can Jeopardize Your Pre-Approval Whether you’re shopping for a new home or trying to refinance the one you’re in, if you’ve already been pre-approved I have 5 major things you need to avoid that can jeopardize your pre-approval. The first is opening new lines of credit. This could be as simple as applying for a new credit card or as extravagant as buying a new car. The reason for this is simple. New lines of credit mean new debt. And in some cases, even if you don’t carry a balance on the new line of credit, you can still be hit for a monthly payment. This will change your overall monthly obligations and essentially have an effect on something we call your “Debt to Income” ratio, which is a critical component when being pre-approved. And that is just one of the Five things to avoid. For the other four e-mail me at

  • Major Derogatory Credit Waiting Periods: You Might Be Closer Than You Think…

    Aug 3, 15 • Fat Ashton • Loan ProgramsNo CommentsRead More »

    Major Derogatory Credit Waiting Periods: You Might Be Closer Than You Think… If you’ve recently been through a major derogatory credit event, and by that I mean; Bankruptcy, Foreclosure or Short Sale, you could be a little closer to qualifying for a loan than you think. Lenders have different waiting periods for these different events, and depending on whether you pursue a conventional or government loan, some waiting periods are as short as 2 years! So if you’ve been holding off on buying or refinancing your home due to a major derogatory credit event, it might be time to take a look at your situation and put together a mortgage plan for you. If this post speaks to you and you want to know a little more, e-mail me at

  • A Must Know If You’re a W2 Employee

    Jul 27, 15 • Fat Ashton • Loan ProgramsNo CommentsRead More »

    A Must Know If You’re a W2 Employee 2106 Expenses. You may not know them by this name, but you might have them if you’re a W2 employee. And if you’re a W2 employee with 2106 expenses, they may be having a serious impact on your qualifications for financing. That is, until now. 2106 expenses, also referred to as “Unreimbursed Employee Expenses” are write offs for things that are often required for a W2 employee to do their job, but is not covered by the employer. A couple examples of these are; Union Dues, Purchasing and Cleaning of Uniforms, Business Phones, Laptops, etc. Until just recently, these write offs were deducted from your income. And in a lot of cases, they ended up having a serious impact on your qualifications. Of course there are a couple caveats to this exception, so if you want the full story, e-mail me at, and I’ll tell you everything you need to know about these write-offs and how they play into your finance qualifications

  • Increasingly Popular Tax Credit Provides Homebuyers Up To $2,000 Per Year

    Jun 8, 15 • Huggy • How To Buy A Home, Purchase LoanNo CommentsRead More »

    For those of you who are live music lovers, I’ve got the perfect weekend activity for you! According the the Adams Ave Businesses website, “Adams Avenue Unplugged takes place the weekend of April 25 and 26, along a two-mile stretch of Adams Avenue, from University Heights on the West through Normal Heights, and into parts of Kensington to the East. The event will feature 150 live musical performances staged inside restaurants, bars, coffee houses and galleries lining the neighborhood and on four community stages evenly spread out throughout the district. Being able to pair the Avenue’s unique dining and drinking establishments, each with their own special ambiances and selections, with free musical performances, makes Adams Avenue the place to be on the last weekend of April. The AABA hopes to treat musical aficionados and foodies to the rich neighborhood culture. Music is scheduled from 12pm to 10pm on Saturday, April 25, and 12pm to 7pm on Sunday, April 26. Some artists will be playing multiple sets allowing attendees more opportunity to catch their favorite performers. Adams Avenue Unplugged is free and open to the general public. The free trolley service will be provided on Adams Avenue during the festival to subsidize the walking required to traverse the expansive event footprint. Parking is limited to residential neighborhood streets and can get quite congested. MTS bus routes 2 & 11 will service

  • Buy a Home Now…..or Wait? Any risk?

    Not sure whether to buy a home now or not?  Should you pay down your revolving debt before looking for a home to buy?  How much do you need for a down payment and closing costs?  Do you have too many questions that have you sitting on the fence, unable to decide?  Let me help you make the right decision and answer all your questions and concerns.  I will provide you with a Free, 1 on 1 consultation, with absolutely no conditions. The median sales price for a single family, detached home in San Diego was $500,000 in January 2015.  That is up 5.26% from the year prior.  And the market is really heating up right now.  Home values have been moving up and we should see good, positive gains this year. I have been finding many people who are wanting to pay down, or pay off, their revolving debt before looking for a home.  They feel this will improve their credit score and get them a better interest rate.  But, the greater risk is that interest rates can rise.  For example if you were to buy a $500,000 home with a 20% down payment at an interest rate of 3.75% the loan amount would be $400,000 and the principal & interest payment would be $1,852/month.  If interest rates were to increase by 1.00% to 4.75% this would reduce your

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