The First Offer Is Often the Best


In this competitive market, the first offer you receive is often going to be the best one. Let me explain.

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The first offer is oftentimes the best offer. As you know, buying here in San Diego isn’t always the easiest thing to do. The demand is so high and the buyer/buyers may have been looking for months and writing up to 10 or more offers with no luck. So when the perfect home comes along they (buyer/buyers) tend to write their best offer right out the gate (they are tired of losing and they have learned what it takes to get an offer accepted).
The first offer is oftentimes the best offer.
I can see why sellers might think it’s a good idea to wait for more offers, but you should respond to the first offer immediately so you don’t lose them. If you price your home correctly, there’s no reason your home shouldn’t sell right away for the most amount possible. In fact, the lower you price it, the more money you will end up getting (call/email/text me and I will explain how this happens and let you speak with my clients). If you have any questions, please feel free to give me a call. I'd be happy to help you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Stop Losing Money

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Does this sound like you?   “I’m going to wait a year before I buy a home.”   “I’m saving up more money.”  The market is going to crash.”  This was said to me a ton in 2017.

Now a year has passed, and that $500,000 home you were looking at last year is currently worth approximately $540,000. 

Interest rates have also gone up, just like we all predicted.  What does this mean?  Your mortgage payment has gone up about $200 a month because interest rates are higher and the same house is now a year older and $40,000 more.   Most people cannot save fast enough to beat the market so you are losing money every month you wait – thousands of dollars a year.

If 2018 mirrors 2017 which is supposed to happen, home prices and interest rates will go up, making it more expensive to buy a home. 

My advice is simple: Don’t wait any longer. Buy a home now – it’s an investment in your future. Homeownership is great and building your wealth is fantastic, so jump in with both feet. 

If you are thinking of selling and buying a new home because you are downsizing or upgrading, there are a few things you should know. 

My clients often say, “I think I will wait for the market to go up a little more so I can put more money down on my next property.”  I totally understand this thought process. But, as your house increases in equity or value - guess what?   Your replacement home is also increasing in value and interest rates are rising so your purchasing power on your new home is decreasing – costing you money.

Unless you plan on cashing your chips and moving completely out of state, it doesn’t matter when you sell and buy. If the market goes down, the value of your replacement property goes down; if the market goes up, the value of your replacement property goes up.

So, if you are thinking about selling, do it now. Interest rates are still relatively low, but they are expected to go up even more. Sell your home now so that you can lock in a low interest rate for your replacement property. 

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to
solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How Much of a Down Payment Do You Need to Buy a House?


Many people don’t know how much money they’ll need to put down in order to buy a house. Today, I set the record straight.

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How much money is required to buy a house? I get this question all the time. Today I’m going to explain exactly how much money down you need to buy a house.
There are three popular loans that just about everyone takes advantage of when buying a house: VA, FHA and Conventional loans.
Let’s start with a VA loan. These loans are for military personnel and require a 0% down payment. It’s a great service that our government provides for our service men and women.
Next, we have the FHA loan which requires a 3.5% down payment. It’s $17,500 on a $500,000 house.
Last is the Conventional loan. Minimum is 5% down. Using a $500,000 house as an example again, the down payment would be $25,000.
You’d be surprised how many buyers out there have absolutely no idea how much money it takes to buy a house.
Keep in mind that with all of these loans there are closing costs to consider. Your closing costs will vary depending on the type of loan you use. Be sure to talk to your lender and Realtor about how to keep these costs as low as possible.
If you have any questions regarding this or other real estate-related topics, please give me a call, send an email, or visit www.housecallrealty.com. Have an outstanding day!
**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.