first time buyers: What's YOUR Personal Breakeven Point? Renting VS Buying
- 07/05/16 09:14 AM
If you are wondering whether it makes more sense to buy rather than rent, it's useful to understand your personal breakeven point...that point at which it financially becomes less costly to buy rather than rent.
There are a number of factors to consider, such as taxes, monthly rentla vs. mortageg payments, down payment, and more, determining how long that tipping point mugh be...usually years.
Gene does a terrific job of laying out the issues to consider when making this critical decision.
Please stop by his original post to share your thoughts.
What's YOUR Personal Breakeven Point?
Renting VS Buying
Do … (7 comments)
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first time buyers: My Favorite Telephone Call? Letting Buyers Know They are Homeowners
- 05/31/16 05:33 AM
Letting Buyers Know They are New Homeowners
is My Favorite Phone Call
I had another opportunity just a short time ago to make one of my favorite telephone calls – to let my buyers know that we are on record and congratulate them on becoming the new homeowners!
While it’s a wonderful feeling to call any buyers who have just closed on their new home, there is something special when it’s first time buyers.
There are plenty of exciting moments in a real estate transaction – finding the right home to make an offer on; getting your offer accepted; having the appraisal come in on … (24 comments)
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first time buyers: Let's Go, I Don't Like This Place
- 05/16/15 01:05 PM
Let's Go, I Don't Like This Place
I really enjoy working with decisive buyers.
You know, those who know pretty quickly whether a home is right or not for their needs. You walk in, they look for a couple of minutes, and before long they know it's not right and they are ready to leave.
Sometimes buyers are apologetic about this approach.
The home was not right and they were ready to move on but they feel badly that we ended up there.
I have no issue with that at all.
I'd rather know so no one wastes time and we don't dilly dally … (25 comments)
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first time buyers: Carlsbad Buyers Prepare for Your Closing with a Contingency Plan
- 09/07/14 06:05 AM
Carlsbad Buyers Prepare for Your Closing with a Contingency Plan
Contingency plans when buying a new Carlsbad home are often necessary, and important, during the transaction..
This is especially true with closing, since this is such a critical date with the transfer of title, and for many buyers an exciting move into your new home. Buyers normally want to get access as soon as possible, which is perfectly understandable.
While it doesn’t happen often, closing CAN get delayed.
The most common reason I have run into is the lender not getting the funds wired … (3 comments)
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first time buyers: This Home has Central Air Conditioning. Not!
- 08/30/14 05:18 AM
This Home has Central Air Conditioning. Not!
A common question from buyers in my area is whether a home has central AC or not.
Near the coast it is often not necessary, except for limited times during the year when the Santa Ana winds blow. But with coastal breeze and being near the ocean the temps are much milder, even in the summer, thank further.
Of course having AC and feeling it is necessary is very much a person choice, and often buyers want to have the option to use it or not.
I always tell buyers that it is … (17 comments)
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first time buyers: The Top 5 Things First Time Buyers Must Do
- 03/05/14 07:55 AM
The Top 5 Things First Time Buyers Must Do
Don’t you sometimes hate being told what to do?
But when planning to make what will be the biggest financial investment in your life – that’s scary sounding, isn’t it – you need to know the essentials to do in order to accomplish your goal and not make mistakes you will regret.
Buying a home is not like purchasing a DVD or a shirt you can return to the store and get your money back if you don’t like it.
As a first time buyer if you aren’t prepared to … (19 comments)
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first time buyers: When Do We Sit Down at the Closing Table?
- 09/23/13 12:16 AM
When Do We Sit Down at the Closing Table?
I was talking with some new buyers who are relocating to the Carlsbad area here in Southern California and they wanted to know “when do we sit down at the closing table?”
We do things differently here, I told them (people say that all the time about California, LOL).
We don’t sit down at the closing table (or settlement as I have heard it called in other states) here in California, at least in my area. Indeed, I told them, closing goes on behind the scenes and you don’t … (24 comments)
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first time buyers: Carlsbad Buyers, Are You Being Nags? If Not, You Should Be
- 08/06/13 11:16 AM
Carlsbad Buyers, Are You Being Nags? If Not, You Should Be
Real estate transactions are complex, and often filled with problems, delays, errors and things that make you crazy.
It’s all part of the process, and with a competent, reliable team of professionals helping – your buyer agent, your lender, the escrow office, the title office, your home inspector, your insurance agent, the loan processor, the underwriter, and others – you should be in good shape.
I think it’s OK to be a nag, sometimes. After all, you have the huge vested interest in the process and closing … (17 comments)
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first time buyers: Congratulations on Your New Home
- 01/03/13 12:08 PM
Congratulations on Your New Home
These are some of my favorite words to share with clients. They rank right up there with “congratulations your offer was accepted” (especially when you are one of multiple offers).
The goal from the beginning is to assist our buyer clients and enable them to move into the home of their dreams.
Being a significant part of that process, and having the opportunity to call with the good news (here in California we don’t sit around a table for closing or settlement) is especially rewarding.
Even more so when all … (8 comments)
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first time buyers: Carlsbad Homebuyers’ Information Packet for the First Time Meeting
- 12/27/12 11:50 PM
Carlsbad Homebuyers’ Information Packet for the First Time Meeting
I have always provided information I consider useful when meeting with Carlsbad buyers for the first time, even when it is not entirely clear that a committed working relationship has been established.
Some are just starting the process and want to talk with me before we make a commitment. I, of course, want to do the same.
Others are referrals or are otherwise ready to go.
The information is generally the same, as a way to give them something useful that they can take away and which will … (5 comments)
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first time buyers: Carlsbad Sellers, Oh By The Way We ARE Selling Your House, Too!
- 12/05/12 02:26 PM
Carlsbad Sellers, Oh By The Way We ARE Selling Your House, Too!
This is, perhaps, a slight round-a-bout way of talking about selling your Carlsbad home.
For many, if not most, buyers, the neighborhood is key.
It will depend in some cases on their budget, but buyers are looking for a neighborhood that meets their lifestyle needs and wants – schools, amenities, proximity to shopping, dining, recreational activities, the beaches (here in SoCal), services, major commuting routes, and more.
There actually may be a number of homes that may fit their needs (price, size, bedrooms), … (1 comments)
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first time buyers: Would You Buy a Carlsbad CA Home Before it was Built?
- 11/17/12 09:29 AM
Would You Buy a Carlsbad CA Home Before it was Built?
One advantage of buying a resale home is that you can walk through it, experience the space inside and out, and decide if you want to buy it.
Would you buy a home before it was built?
If you want to purchase a new construction single family detached home or a condo/town house for sale in Carlsbad CA you may very well have to. It’s not for the faint of heart, but with the new home market moving pretty briskly and the number of people who prefer … (4 comments)
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first time buyers: What is Your Home Buying Strategy?
- 11/15/12 03:21 PM
What is Your Home Buying Strategy?
Seriously considering buying a home, or are already immersed in the process? You need to have a strategy, especially in this competitive market.
What IS your buying strategy?
Do you have one? Or are you going about the process haphazardly?
Consider the following:
INTEREST RATES
Interest rates remain historically low. Check into the programs you may qualify for and what this means financially vis-à-vis your monthly budget. It’s essential to create your own personal budget, because what you may qualify for and what you are willing or … (23 comments)
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first time buyers: I Took Clients on a Hard Hat Tour Yesterday
- 10/28/12 09:54 AM
I Took Clients on a Hard Hat Tour Yesterday
As part of our home search I took clients on a hard hat tour yesterday.
We were exploring new homes for sale in Carlsbad and toured 2 complexes we thought would work. In most cases with Carlsbad new home communities you have model homes to tour.
Model homes make it much easier to envision the different floor plans that are available to purchase, especially first time home buyers, as long as you don't get too distracted by all the great furniture and furnishings.
And because new homes in Carlsbad are … (19 comments)
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first time buyers: Yikes, We Just Bought a House!! Now What?
- 05/27/12 11:39 AM
Yikes, We Just Bought a House!! Now What?
The emotions run high when you get word that you just bought a house, especially for first time home buyers.
There’s lots of excitement involved in the search process…exploring the possibilities, envisioning yourself in different houses, dreaming about the future, and perhaps feeling some frustrations, too, at not finding exactly what you want where you want it and for the price you want.
There’s the trepidation about making your first offer.
Do you make an offer on a house you like? How much should you offer? Should … (34 comments)
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first time buyers: Outdoor Living in Carlsbad California – At Home (Part 1 of 2)
- 03/25/12 12:38 PM
Outdoor Living in Carlsbad California – At Home (Part 1 of 2)
Buyers looking for a home in the Carlsbad CA area often have a common request…to have outdoor space for enjoying the Southern California lifestyle.
That outdoor space request may mean a simple deck or patio, for those living in a condo. But it might mean a full-blown outdoor kitchen and elaborate entertainment area.
Amenities might include a pool (with slide or waterfall), fountain, spa or spool, plenty of hardscape, perhaps on varying levels, firepit(s) or wood burning fireplace, bar area, plentiful seating areas, built-in heat … (7 comments)
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first time buyers: HOA Documents: Why Should I Look at Them? What Should I expect to Find?
- 05/10/11 06:09 PM
A Buyer Asks - Why Should I Look at the HOA Documents? What Should I expect to Find? Not too long ago a first time buyer I was working with asked me "Why should I look at the HOA documents?"
She also wanted to know "What should I expect to find?"
These are excellent questions, and any buyer in Carlsbad or other nearby Southern California communities needs to understand the HOA they are potentially buying into.
Not all communities have an HOA (that's Home Owner's Association), but you can be sure if the property is a condo or PUD (Planned Unit … (44 comments)
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first time buyers: A recent buyer asked...Do I need flood insurance? And Should I have earthquake insurance?
- 04/30/11 03:15 AM
A recent buyer asked...Do I need flood insurance? And should I have earthquake insurance? The answer is IT DEPENDS.
With regard to earthquake insurance, it is optional, and not required by a lender as a condition of a loan. I asked two well respected mortgage officers I know. That's true at least right now. Requirements could change, I suppose, as they seem to every day.
Having earthquake insurance may be a good idea, especially if the home is found to be located in an earthquake fault zone per the Natural Hazards Report (e.g., First American, Disclosure Source, Property ID) and the … (9 comments)
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first time buyers: 5 New Year's Resolutions for Buyers
- 01/03/11 04:54 AM
5 New Year's Resolutions for Buyers If you are not truly serious about buying right now, you won't be ready to commit to these resolutions. But it will give you something to think about for when you are serious.
For those who are really ready, my thoughts on what you MUST do are here. Take a hint.
GET PRE-APPROVED
Yep, this sounds like a no-brainer, but in my experience many buyers do not do this when they are first getting started. If you aren't paying cash, then you're going to need a loan from a bank. Not an easy thing to … (7 comments)
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first time buyers: I'd Like to Congratulate my First Time Buyers
- 08/16/10 04:08 PM
Getting to closing is the ultimate pleasure for many buyers, although it might rival walking in the door of your new home.
I have some good friends I recently helped to buy their first home. It was a major lesson in patience, among other things, over a long period of time.
20 offers later over 10 months (REOs, short sales, getting outbid many times even when at and above asking price, and having to withdraw from 2 transactions due to significant inspectional issues), major delays with the underwriter and then the PMI company, and some title issues that were overcome, we … (37 comments)
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If you are wondering whether it makes more sense to buy rather than rent, it's useful to understand your personal breakeven point...that point at which it financially becomes less costly to buy rather than rent.
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