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.

Can Buyers or Sellers Cancel the Purchase Agreement Once in Escrow?


One of the most common questions I’m asked by buyers and sellers alike is: Can I cancel my contract? Today, I’ll be sharing the answer.

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Want to buy a home? Search all homes for sale

One of the most common questions I’m asked by buyers and sellers alike is: Can I cancel my contract?
For buyers, the answer is absolutely yes. Contracts completely favor the buyer. Once your offer is accepted by the seller, you have 17 to 21 days (depending on what is negotiated) to do your due diligence.

Due diligence is the period where you must get your loan fully approved, your home inspections, appraisal, and more. At any point during the due diligence period, you can cancel for any reason. The only money you will lose is the cost of your inspections. Your earnest money deposit will be returned to you.

So, what about sellers? Well in the case of those who are listing their property for sale it is a
different story. If you think there is any chance you might change your mind about selling your home don’t put it on the market for sale. However, canceling on the buyers can be done if they are not following the agreed upon terms and conditions of the contract and you have given them a written Notice to Perform.

If the buyer follows all of the terms and conditions of the contract, you cannot cancel once you are in escrow.

If you have any other questions or would like more information, feel free to give me a call/txt/email. I look forward to hearing from you soon.

**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.