Price Matters

When it comes to real estate price matters. Most real estate professionals will aim to price your home at fair market value at the onset and some sellers are on board, others are not. It has been a rough realization for many to acknowledge that it is a buyers market out there. It has been an unknown in recent months as to whether home values will continue to drop, stabilize or improve and every market is different. Regardless of what is going on, if your home isn’t selling then you may want to reduce its price.

Whether your home is seeing a lot of potential home buyers or very few, if you haven’t had an offer there could be a few factors. What is your home lacking? Can you fix what your home is lacking? Chances are that if your home is on the market for sale, you are ready to sell it and you are not going to make any large changes to it. The one change you can make is lowering the price. Money matters, more today than ever. If someone sees a home for sale at what they see as a bargain price then they are much more likely to make an offer.

Can you afford to hold on to your home until prices start appreciating again? If so keep your price where it is. If you need to sell then lowering the price could be the key to selling it now.

 Reasons to lower the price of your home.

For more information please contact me at 818.269.5550.

You may also visit my wesbite: http://www.caroledelacruzrealty.com/

or email me at: carole@caroledelacruzrealty.com

Save Money At Closing

It is possible to save money at closing. Whether you are buying a new home or refinancing one you already own, closing costs can often make the process more expensive than expected. When refinancing closing costs can actually get in the way of making a change a poor financial decision. What many borrowers may not realize is that cutting some of the fees out at closing can happen.

When researching a new loan check with your current lender first. Chances are, if you are in good standing, they do not want to lose your business and will work with you to keep it. Working with your current lender may avoid a new appraisal, application fees and other charges that come along with the loan process.

Find out what a lender’s fees are well ahead of closing so that you know what to expect. By seeing the fees in writing you may also have an opportunity to do a bit of bargaining. The better your credit rating, the more a lender will want to work with you and secure your business.

Finally, look into wrapping your closing costs, or at least a portion of them into your loan. If it make financial sense it can save you money up front. With mortgage rates currently hanging out below 5% wrapping a couple of thousand dollars into a mortgage does not make too big of an increase on the monthly payment. Shop around and speak with a number of lenders before making your decision.

It is possible to save money at closing

For more information please contact me at 818.269.5550.

You may also visit my wesbite: http://www.caroledelacruzrealty.com/

or email me at: carole@caroledelacruzrealty.com

Buying A Home is An Investment

Buying a home is always an investment and choosing the best bang for your buck is important. Whether a home is big or small, choosing the home that will have the best return on your investment is key. Schools, low crime rate, amenities and w alkability all affect the resale value of a home.

Key elements that attract home buyers to a neighborhood or specific home have historically included the quality of available education, the safety of the area, the parks and open space nearby, and the shops and restaurants in the area. Choosing a home in a walkable location can add value to a home as well. The ability to walk to a restaurant or a store is a huge draw for many people. Not everyone wants to hop in a car to pick up a gallon of milk or meet a friend for lunch.

While it is often hard to find a home that has it all, it is important to choose a home that has what you are looking for. In the end if a home has what you are looking for it will most likely have what someone else is looking for when it comes time for you to sell.

Walkability factor of buying real estate.

For more information please contact me at 818.269.5550.

You may also visit my wesbite: http://www.caroledelacruzrealty.com/

or email me at: carole@caroledelacruzrealty.com

Self-Employed? Be Prepared to Acquire A Mortgage

If you are self-employed and are considering purchasing a home it is important to be aware of the changes that have occurred in order to obtain a loan. As everyone is well aware, getting a loan is not nearly as easy as it used to be. Those who are self-employed are having a more difficult time borrowing money and must provide documentation that shows their income. The IRS is being contacted for verification by many lenders and any fraudulent income claims are being dealt with.

In a nutshell, if you are self-employed and applying for a mortgage loan, be prepared.

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  Line up all of your documents showing your income before going to apply for a loan.
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  Check your credit and do what you can to improve your credit score.
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  Pay your bills on time.
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  Most importantly, tell the truth, misrepresentation can cost you.

 Many lenders, Chase being one, are hiring more loan officers, convinced that the low rates are going to bring many more new loans and refinance loans in the next 18 months or so. Mortgage rates have been decreasing since April, closely tied to the unsteady economy, where wary investors are putting their money in safe investments like Treasury Bonds. As these yields go down interest rate goes down as well.

In other words, the unsteady global economy equal good news for home buyers acquiring a mortgage and home owners who are refinancing their home loans. If you are self-employed and can provide decent and accurate documentation there is no reason you shouldn’t be able to secure a home loan.

For more information please contact me at 818.269.5550.

You may also visit my wesbite: http://www.caroledelacruzrealty.com/

or email me at: carole@caroledelacruzrealty.com

Buyers Are in Charge When It Comes To Real Estate

Buyers are in charge when it comes to real estate these days. Sellers don’t like this piece of news, and who can blame them, after-all no one likes to be on the losing end of a game. This means that it is a great time to be a home buyer, even better if you don’t have to sell a piece of real estate to buy a new one. What makes it such a great time to be a buyer? Mortgage rates, home prices and inventory. That’s right, these three items add up to create prime buying power.

Mortgage rates are low, averaging just over 4.5% for a 30 year fixed rate mortgage, and they don’t appear to be heading up any time soon. If you have a job and a steady source of income as well as good credit, there couldn’t be a better time to buy a new home.

Home prices are down. While there are some areas of the United States that appear to have reached bottom, few areas are rising but merely stabilizing. Some parts of the country are still dropping and bargains abound.

Inventory of homes for sale is high. A high inventory means more bargaining power for buyers. There aren’t a lot of home buyers out there and sellers who are lucky enough to receive contracts don’t want a potential home buyer to get away.

In a nutshell, if you want to buy a home get out there and start looking!

Money about being in a buyers market.

For more information please contact me at 818.269.5550.

You may also visit my wesbite: http://www.caroledelacruzrealty.com/

or email me at: carole@caroledelacruzrealty.com

Tax Credit Extension Close to Passing

An extension for the tax credit appears close to passing after being approved by the House of Representatives on Tuesday, June 29th. The tax credit is for those who put homes under contract on or before April 30th. The original deadline for closing is today, June 30th. The extension is currently up for approval by the Senate, who will hopefully act fast.
An extension of the tax credit will allow more time to close for those who are currently under contract to purchase a home. This is especially helpful for new homes which may not have met completion by the June 30 deadline. The extension is also helpful for those who are having a difficult time securing a loan, a process that has become much more difficult since the impact of the recession that has crippled so many parts of the United States.

Approval of the tax credit extension displays the government’s willingness to help those who want to close on a new home but need a bit more time to do so. The extension will not, however, help prospective home buyers who have put a home under contract after April 30.

Money regarding the tax credit expansion.

For more information please contact me at 818.269.5550.
You may also visit my wesbite: http://www.caroledelacruzrealty.com/
or email me at: carole@caroledelacruzrealty.com