mortgage: Tax Breaks Granted By The 2012 Fiscal Cliff Negotiations - 02/06/13 06:32 AM
There was plenty of discussion and debate leading up to the New Year's looming "fiscal cliff". Ultimately, the event was avoided, but not before legislation was passed which may benefit homeowners in San Mateo and nationwide. 
If you have yet to file your 2012 taxes, take a minute to review the tax limitations and credit extensions, which Congress passed through the HR 8 legislation. You'll want to ensure you're paying the proper tax bill come April 15.
Of course, every individual's tax situation is unique. Review your allowable deductions and credits with your tax preparer.
Energy Updates
The tax credit for … (0 comments)

mortgage: 6 Tips For Buying An Older Home - 02/05/13 05:11 AM
Older Burlingame homes sometimes offer more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors and antique fixtures.
Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.
However, buying a house from another era can be an endeavor fraught with potential problems. Older houses are not necessarily built to the same electrical or plumbing standards of today. Plus, if they have not been maintained correctly through the years, they can turn into a … (1 comments)

mortgage: What's Ahead For Mortgage Rates This Week : February 4, 2013 - 02/04/13 05:14 AM
Mortgage rates worsened last week amid evidence of an improving economy. Conforming mortgage rates climbed in California and nationwide, rising to a 4-month high.
Freddie Mac has the average 30-year fixed rate mortgage rate at 3.53% for borrowers willing to pay 0.7 discount points plus a full set of closing costs.
There was plenty of news on which for rates to move last week.
First, the Federal Open Market Committee (FOMC) met and voted to hold the Fed Funds Rate in its current target range near 0.00 percent. The Fed also recommitted to purchasing mortgage-backed securities (MBS) and Treasury securities on … (0 comments)

mortgage: Help Your Home Office Shine When Selling Your Property - 02/01/13 05:06 AM
With telecommuting continuing to rise, and with more jobs requiring after-hours attention, showcasing your home's "home office" can help it show better with a prospective home buyer. 
It's wise to have your kitchen, bedrooms and bathrooms show well, but a great-looking home office can make a huge impact and help you sell your home more quickly.
Here are a few tips to helping your home office shine :
Designate The Right Space
Whether it's a spare bedroom or a computer nook, specify a separate place at which business is done. Make sure the area has enough room to set up a … (1 comments)

mortgage: Breaking Down The Federal Reserve Statement (January 2013 Edition) - 01/31/13 06:12 AM
The Federal Reserve's Federal Open Market Committee (FOMC) voted to maintain the Federal Funds Rate within its current range of zero to 0.25 percent, and to continue its current stimulus program of purchasing $85 billion monthly in Treasury bonds and mortgage-backed securities (MBS).
Citing weather-related events such as Hurricane Sandy and drought in the Midwest, the committee said in its statement that information received since its December 2012 meeting "suggests that growth in economic activity has paused in recent months in large part because of weather-related disruptions and other transitory factors."
Concerns over the then-looming fiscal cliff crisis may have also … (0 comments)

mortgage: How To Paint Your Home's Exterior Walls - 01/30/13 01:42 PM
When preparing to sell a home, few things improve its curb appeal more than a fresh coat of exterior paint.  
Many people are intimidated by the thought of painting their home's exterior, and choose to hire a third-party to handle the work. But, you can do it yourself, with these easy steps.
First, before starting, you'll want to inspect your home. Examine all walls, look under the eaves, and pay attention to door frames and windows.  Be on the lookout for peeling paint, mildew and rough surfaces and make a note of them.
Next, gather the tools you'll need to … (1 comments)

mortgage: Pending Home Sales Post 20th Consecutive Month Of Annual Gains - 01/29/13 05:31 AM
The National Association of REALTORS® (NAR) reports that the Pending Home Sales Index fell 4.3 percentin December as compared to the month prior. The index now reads 101.7.
The Pending Home Sales Index measures the number of U.S. homes that have gone "into contract", but have not yet closed. The report is based on data collected from local real estate associations, and from national brokers.
Despite December's drop, however, the annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago, and marked the 20th consecutive month of annual purchase contract gains.
NAR reports … (0 comments)

mortgage: What's Ahead For Mortgage Rates This Week : January 28, 2013 - 01/28/13 05:20 AM
Mortgage rates rose last week as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed.
Last week's economic news provided further evidence of a strengthening U.S. economy.
The National Association of REALTORS® released its Existing Home Sales report, which indicates that existing home sales improved by 13 percent on a year-over-year basis and are now at their highest point since 2007. The group expects sales of existing homes to increase by 9 percent in 2013.
… (1 comments)

mortgage: Existing Homes For Sale At Lowest Point In 11 Years - 01/24/13 04:57 AM
Home sales dropped last month, but not because demand was lacking. There are fewer homes for sale than at any time in the last 11 years.
According to the National Association of REALTORS®, Existing Home Sales for December 2012 fell to a seasonally-adjusted, annualized rate of 4.94 million homes from November's tally of 4.99 million existing homes.
The Existing Home Sales report is based on the number of closings for previously-owned, single-family homes, townhomes, condominiums and co-ops. It's estimated that existing homes account for 85 to 90 percent of all home sales nationwide.
2012 was a good year for housing. Sales … (0 comments)

mortgage: Buying A Home In A Golf Community - 01/23/13 06:50 AM
If you're looking to buy a home in a golf course community, either as a primary residence or as a vacation or retirement home, there are additional home traits which make buying on a golf course different from buying a typical San Mateo single-family residence.
Here is a quick primer of home characteristics to consider when buying in a golf community.
Land Plot 
When looking at homes within a golf course community, be aware of its location with respect to the community entrance. Homes nearest to the entrance will receive the most drive-by traffic and may be slightly more noisy that a … (0 comments)

mortgage: Tips For Selling Your Home In The Colder Winter Months - 01/22/13 12:20 PM
Real estate agents in many cities will tell you that it can be harder to sell a home in the winter. The days are colder and shorter, leaving less time to show a home to potential buyers.
The good news, though, is that most buyers looking at houses in the winter aren't just killing time. They're serious enough about finding a new home to house hunt at a time when most people might rather stay inside.
There are a several steps you can take to make a good impression on home buyers this winter.
First, if there's snow or ice on … (0 comments)

mortgage: Simple Fixes To Help Your Home Sell More Quickly - 01/18/13 01:14 AM
If one of your New Year's Resolutions is to sell your San Mateo home, there are a few simple steps you can take to help prepare it for showings.
With a prospective buyer in mind, take a tour of your home, making a list of the good, the bad, and the not-so-bad. You may spot areas in need of major renovation; and areas which could benefit from just a basic touch-up.
It's these latter areas which will likely yield the biggest return on your investment so, in preparation for making your home "buyer ready", consider these steps.
Landscaping
The first thing … (0 comments)

mortgage: Homebuilder Confidence Nearly Triples In 2 Years - 01/18/13 01:12 AM
The National Association of Homebuilders (NAHB) Housing Market Index ended its 8-month winning streak this month, posting a value of 47. The January 2013 reading is on level with last month, and remains at a near 7-year high.
The Housing Market Index (HMI) is a measure of home builder confidence. 
HMI readings below 50 indicate a "poor" new construction conditions for single-family homes nationwide; ratings above 50 signal "good" ones.
Not since April 2006 has the Housing Market Index crossed into "good" territory, but the past two years have witnessed the HMI nearly triple; and the index is up from a … (0 comments)

mortgage: Improve Your Credit Score To Get Better Mortgage Rates - 01/18/13 12:56 AM
For home buyers in San Mateo and nationwide, credit scores can change low mortgage rates and alter home loan approvals.
Borrowers with high credit scores get access to lower mortgage rates, for example, and can find the mortgage approval process to be more smooth that borrowers with low credit scores.
If your credit score is low, here are some basic ways to help improve it. 
Get The Reports
Download an updated version of your credit report from each of the three major reporting bureaus -- Equifax, Experian and TransUnion. The reports may mirror each other, but credit accounts -- especially derogatory ones … (3 comments)

mortgage: Selling? Improve The Appearance Of Your Home's Bathrooms. - 01/15/13 12:35 AM
Full-scale bathroom remodeling can be expensive and, in today's San Mateo housing market, you won't likely get all of the money back that you put into it at the time of sale.
Knowing that bathroom projects tend to have a low return on investment, therefore, here are a few inexpensive changes which you can make to spruce up bathrooms in a home for sale.
Fixtures
Most sellers will notice if the fixtures in a bathroom are old, and it can have a negative effect on their view of your home. Buy a new set of bathroom fixtures at a home improvement … (2 comments)

mortgage: What's Ahead For Mortgage Rates This Week : January 14, 2013 - 01/14/13 05:35 AM
Thursday's weekly jobless claims report showed 371,000 new claims, which was 1,000 fewer jobless claims than for the prior week. Wall Street expectations of 365,000 new jobless claims turned out to be too optimistic.
The semi-quarterly statement released Thursday by the European Central Bank (ECB) announced that the region's inflation remains below its 2 percent ceiling as established by central banker. Economic weakness in the Eurozone is expected to persist into 2013 with signs of recovery becoming evident toward the end of this year.
ECB cited financial and structural reforms as essential to economic recovery, and noted that national governments within … (0 comments)

mortgage: Help Your Pets Adjust To Your New Home - 01/11/13 10:36 AM
Moving to a new home can be a difficult transition for everyone in the family, including the furry, four-legged members.
Dogs and cats develop a strong bond with their environment so when they are relocated from their territory it can cause them stress.
Here are some tips to ease your pets' transition to a new home :
Keep Your Mood Calm
Pets are very tuned-in to your emotions and will sense your mood. If you are stressed throughout the moving process, your cat or dog will pick up on this and it will make him anxious. Try to remain calm and … (0 comments)

mortgage: What To Do When Your Home Doesn't Appraise At Its Purchase Price - 01/10/13 11:04 AM
One particular negotiation point which can present difficulties for both buyers andsellers is when a home's appraised value falls short of its contracted sales price.
Sometimes, this happens because the home's price was inflated. Other times, it's the result of a faulty appraisal.
As a home seller, there are some common appraisal problems of which you should be aware. Here are some of them, and how to seek remedy so that the home sale process remains smooth.
Inaccurate comparisons
An appraiser will assign your home's value based on comparable properties and recent sale prices. However, some homes -- notably those in foreclosure; sold … (5 comments)

mortgage: 27 Months Of Consecutive Job Growth Helping Home Prices Rise - 01/09/13 10:15 AM
The Bureau of Labor Statistics (BLS) Non-Farm Payrolls report for December exceeded Wall Street's expectations by 5,000 net new jobs, showing 155,000 positionscreated in December.
The December tally raised the economy's 12-month total to 1.84 million net new jobs created nationwide. Jobs added in December mark the 27th consecutive month of job growth.
Job sectors showing the strongest growth to close out 2012 included:
Health Care Drinking and Eating Establishments Construction Manufacturing Private-sector hiring is driving the jobs market, too. 168,000 new private sector jobs were added in December. Government jobs fell by thirteen thousand.
Monthly job creation has averaged +153,000 … (2 comments)

mortgage: Choosing "Green Homes" - 01/08/13 05:13 AM
"Green" homes can be great for the environment and can save you money over time.
For environmentally-conscious homeowners wanting to minimize their footprint and their energy bills, there are four areas upon which to focus. 
In-Home Energy-Efficiency
According to the Environmental Protection Agency (EPA), as of December 2012, buildings account for 68 percent of the nation's total energy consumption. Green homes can reduce this figure via energy-efficient appliances; well-sealed, double-glazed windows; and good insulation. Alternative energy sources such as solar panels can also reduce energy use.
Green Building Materials
Building materials are determined to be "green" based on manufacturing, shipping, and reclamation procedures, … (3 comments)