A Millennial’s Guide to Homeownership

Open the PDF version here: MillennialeGuide


March Rates Are Jaw Dropping LOW

Take a peak at the interest rates below from my preferred lender Connie Boyd with Western Bancorp, who can close FHA deals within 21 days with their Delegated Underwriting status.  Once their Underwriters give their approval, a buyer does not have to wait any longer.  Most other lenders have their in-house lender that need another approval from a FHA underwriter.  Way to go WB and keep up the positive industry changes!

14 Reasons to Love Real Estate TODAY

If you are thinking about making one your biggest investment decisions sometime soon, let me reassure you the positive aspects of purchasing a home in this real estate market.

  1. Many types of financing-Find out what is right for a particular situation: USDA, VA, FHA, CalSters, Conventional
  2. Interest rates are under 5%- The rates are rising along with consumer confidence, so do not expect the low rates to last long.
  3. Bigger home for a smaller price-Do you think you can purchase the same home 4 years ago at the same price as today? Today a buyer gets more home for your dollar.
  4. New construction in Hollister, CA-Kaufman and Broad (KB) Homes and Anderson Homes are sprouting up now that the moratorium has been lifted.
  5. Buyer competition is low-As some buyers are still waiting for more foreclosures to hit the market, you can nab the home that is actually available now. It is hard to predict when the banks will release their repossessed homes.
  6. Bank homes are more presentable-For marketing purposes REO agents make recommendation to the bank’s asset manager for any rehab on the property.  Now homes are more move-in ready, so buyers can move in right at close of escrow.
  7. Traditional sales are more common-“Contingent upon sale” are popping up more in transactions.  A seller is looking to upgrade, but they must sell their current home to purchase-NO PROBLEM. Real people, real communication, real emotions.
  8. More quality agents-REALTORS have been filtered through the market over the last few years and the educated and career oriented salespeople are here to help buyers and sellers.
  9. Lender disclosures-The final HUD must reflect all money  involved during the transaction from short sale payoffs to real estate commission to sellers net.  Open door policy from the beginning to the end
  10. Good faith estimate-From the beginning the lender informs the buyer of all the possible fees that may incur during the transaction.  Although the fees may not be exact, the lender tries to educate the buyer of what lies ahead.
  11. Seller disclosure-A seller must be honest and truthful in filling out the Transfer Disclosure Statement and Seller Property Questionnaire, which informs the buyer of all known material facts that affect the value and desirability of the property.
  12. Inspections-If a buyer has any question on anything, they can hire a professional to inspect such as: soil, pest, home, roof, chimney, etc.
  13. Tax write-off-Besides having dependents, a home is one of the biggest IRS tax write-offs. Put cash in your pocket by just owning your own home.
  14. Big REWARD-Purchasing a home is not always easy, but a buyer has a sense of accomplishment that they can give memories a new home.