Finally! We've made it to the #1 home buyers mistake that can cost you:Waiting for the market to improve or not buying at all.
No one can can read the future and knows exactly where the market is going, so trying to time your home purchase with the bottom of the market is probably not the best idea. If you're financially (#1) ready and have compelling reasons for owning a home (i.e. it would save money in the long run because you are paying more for rent, you need more space with your growing family etc.) then it's probably a good time to buy. Just think: all the time you spend procrastinating on purchasing a home, you could be building equity, getting tax deductions and enjoying the many other benefits of home ownership!
Just remember-when you are signing a home loan for 30 years, for example, that means that you are saying you will be able to make the payments for the next 30 years. So consider things such as; what would you do if you need to sell in the next 30 years and the price of your home has gone down from when you bought it (would you be able to rent it out, could you sell it at a loss, etc)? Make sure you are making the right decision for you that is financially smart and responsible.
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
This beautifully maintained & updated home is close to Bidwell Park, shopping, schools, and freeway access is close by. Move right in and enjoy the modern kitchen, with stain...
This 3 bedroom, 1 bath home offers a second, un-permitted dwelling, that was used as a rental, with itâ€TMs own kitchenette, bath and several bedrooms. This home needs work, no...
Hard to find home 2 blocks away from five mile park off Hooker Oak Avenue. Newer central heating and air system, new dishwasher, new water heater. This one wonâ€TMt last long...
Bundle of Charm! Describes this 2 bedroom/1.5 bath Chico Charmer. Built in 1905, this home is one of the oldest on the block. Features include, original hardwood floors, all ...
This home was a model and shows wonderful. Some of the few amenities include crown molding, solid surface counter tops, plantation shutters, custom colors family room and a de...
Beautiful, well maintained PG&E comfort home with large master bedroom with walk-in closet & jacuzzi tub. Beautiful backyard landscaping with raised beds for your gardening d...
Wow, not much needed here. Home offers 3 bdrms/3 bths, lvng room, fmly room, dining area, bns room (grge conversion-unknwn if permitted), & lrg laundry area. The yards are lnd...
Having a back-out plan is a must for smart home buying. If the home has an irresolvable flaw, it doesn't appraise for the purchase price, or your lender refuses to fund your loan, having contingencies on your contract gives you the right to cancel the transaction. Think about it this way: would you spend $100 in a store that doesn't have a 30-day return policy? If your answer is no, you wouldn't want to put hundreds of thousands of dollars on the line without the right to bail.
This is why it is important to have a real estate agent working for you that understandings all of the ins and outs of real estate. Make sure that you have contingencies on your offer. Some typical contingencies are: that the home inspections comes out smoothly, a contingency that your house will sell in order for you to buy the house you are putting an offer on and that your loan will be approved.
If you are looking for a real estate agent in or around Chico, California to represent you, consider calling me. I would be happy to chat with you about what your real estate need are-buying or selling or even both! Ryan Vaught, Real Estate Broker (530) 343-2959
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Charrming 1456 Victorian SF 5/2 , 2 Story Home, + 338 SF Studio Above Garage with Alley access in rear. Studio has half bathroom and Kitchenette. Studio SF is not included i...
Just blocks to downtown Chico, this home is convenient and comfortable. Updated charmer has newer roof, siding, cental heat/air, dual paned windows, and remodeled kitchen and ...
Beautifully maintained home in great area. Hardwood floors in front room, kitchen/dining area as well as front bath room. Recent remodel in master bath. Built-in entertainment...
This home shows like a model! Granite fireplace, newer carpet, newer tile floors, stainless steel appliances, open floorplan. Located on a quiet cul-de-sac. Close to shopping ...
Lowest priced house in Chico's very popular Amber Grove Subdivision!!! Grandma and Grandpa have moved to be near their kids. They leave behind a big house, great yard and an a...
Beautiful mbd built home. 4 bedrooms , 3 full baths,granite counter tops in kitchen , baths and laundry room. Large lot,fenced, landscaped front and rear. Room for a pool and ...
Bidwell park!! Beneath a cathedral of tall trees, stands the home of your dreams. The home has a feeling of understated elegance with its large sunny rooms, gleaming wood floo...
The grounds to this home shows like a home shown in sunset magazine. Beautiful grounds with garden areas, fountains, custom decks, stamped concrete, fruit trees, really awesom...
A client bought a new home and the broker wanted to send flowers for the occasion. They arrived at the home and the owner read the card; it said "Rest in Peace".
The owner was angry and called the florist to complain. After he had told the florist of the obvious mistake and how angry he was, the florist said. "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulations on your new home".
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Very nice and well-located home on a large and private lot. Walk to CSUC, Enloe Hospital and downtown... Enjoy BBQ's on the private back patio and porch in the summer and stay...
3 bedroom, 2 bath home needing a new look for a new owner. Bring the paint, the know how, and create your own masterpiece. Back yard fenced with covered patio area. Yard despe...
Wonderful home that has been updated! Beautiful travertine flooring, surround sound, spacious floorplan and very large backyard at the end of a cul-de-sac.
This is an immaculately maintained, one owner home on a large lot with RV parking. The interior is spotless and has been beautifully maintained. Features include hardwood fl...
Sparkling Clean 2002 Ritchie home w/many upgrades and one of the largest lots in the subdivision. Large open kitchen w/eating bar, gas range, electric stove, microwave, gas fp...
Beautiful home located on a quiet west side cul-de-sac. Just blocks from Emma Wilson School and close to shopping and conveniences as well. This home shows like a model with v...
SHOWN BY APPT ONLY Ranch Style Webb home pride of ownership throughout. Great opportunity just steps away from the neighborhood park, spacious home with possible 5th bedroom/d...
Sorry for the delay but here are some improtant things to make sure to look for in your closing papers when buying a home:
300 pages. A pen. A table. And you. Thus starts the surreal experience of signing your closing papers to get the keys, possession and mortgage payments that go with your new home. Most homebuyers know they should read these papers, but have no clue what to look for and wonder if they should be perusing the pages there and then, in front of the notary, Realtors and maybe even sellers and attorneys (on the clock, of course). Let the high drama begin.
Fortunately, out of the 6-inch stack of title and loan docs, there are a select few documents and items that are truly critical:
Essential Details. Peruse the entire package to ensure that your name (and your co-buyer's name(s)) and the property's address are accurate and appear the way you would like them to show on the County records. Typos are not infrequent, but they are super easy to have corrected.
The Note. This is your promise to repay the loan. Look for the loan amount, the term of the loan, interest rate, monthly payment, due dates, late fees and other critical terms like whether there is a balloon payment or prepayment penalty. Make sure these details jive with the good faith estimate you were given early on in your transaction.
The Mortgage or Deed of Trust. This paper secures your IOU (the note) with the property, allowing the lender to take your home back if you fail to pay. It should list any "riders" -- additional documents that add terms to the note, like an adjustable rate rider or prepayment penalty rider. Check to be sure that any riders listed on the mortgage or deed of trust are included in the document package.
Estimated HUD-1/Settlement Statement. Review this standardized list of closing costs, debits and credits to your escrow to ensure that it accurately reflects seller credits agreed on in the contract, deposits you've made, and inspection or appraisal fees that you have had billed to escrow.
Strange as it may seem, the closing table is not the place to read your closing documents. Smart homebuyers ask their Realtor, mortgage professional or escrow holder to provide them with a copy of their closing documents as far in advance as possible, ideally at least 72 hours before the signing appointment. This gives you time to review the documents, discuss them with the appropriate pros and initiate revisions, if necessary.
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Beautiful end unit Condo! This unit was originally the model and it has many great features including crown molding, solid-core doors, ceiling fans, dual pane windows, and a s...
Views, Views, Views. This 5 acre parcel in the gated community on Wilder offers the serenity of the country with views of Chico but only a few minutes drive from town. Imagi...
Beautifully redone condo. Nothing was left untouched. Features include central vac, water softener, new patios, new inside paint, carpet, cabinets, appliances, baths, wood flo...
Must see this adorable home! In great location near downtown. Only blocks from CSUC. Light & bright, open floorplan. Msater bedroom opens into the park-like garden.
Very nice and well-located home on a large and private lot. Walk to CSUC, Enloe Hospital and downtown... Enjoy BBQ's on the private back patio and porch in the summer and stay...
3 bedroom, 2 bath home needing a new look for a new owner. Bring the paint, the know how, and create your own masterpiece. Back yard fenced with covered patio area. Yard despe...
Lovingly maintained by the same owners for over 45 years. This home still has charm and character after remodeling done over the years. The hardwood floors have been covered w...
Beautifully remodeled and ready to move in! Very spacious rooms. Great location close to shopping and schools. Brand new carpet, paint, & microwave. Security system & plumbe...
If you did your homework, you had your trustworthy real estate attorney review all your paperwork and discuss it with you so you don't get a nasty surprise at closing. Let's face it -- you won't have time to read that six-inch stack of legal documents at the closing table. Fortunately, there are a select few documents and items that are truly critical, and you can request a copy of these in advance. This gives you time to review them and ask questions before closing.
Buying a home is a life-changing event that involves 3 M's: mortgage, money and moving, so it's natural to experience some stress. Factor in today's market -- with tighter credit restrictions and a tougher buying process -- and you've got more drama than you need.
Perhaps you don't get approved for a mortgage or find a home you like. Or if you do, you don't know how much to offer or get outbid by another buyer. What if your closing costs end up being more than you expected?
Check back later this week to find out the 10 surefire ways to take the drama out of buying a home.
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Beautiful, Brand new two stories Condos located in the center of Chico. Condos are in walking distance to In Motion Fitness, PVHS, Marigold Elementary and Bidwell Junior High....
Bank owned property. Seller offers special financing incentives when financed through Flagstar Bank, including 100% financing with little or no fees to qualified buyer. Desira...
Great property located at the end of a culda sac. Nice open floor plan with vaulted ceilings. All bedrooms and laundry roo is upstairs. Buyers qualify for smart buy promoti...
This property is move in ready and waiting for you. Large corner lot in a very nice subdivision. Priced to sell with many upgrades. Call today for your private tour of this gr...
Beautiful remodeled house in 2007 on 1.89 acres. Plus, 600 sq/ft studio/mother-in-law unit! Spacious oversized (24 x 28) 2+ garage. Do not miss the tile floors & counters in k...
All the Charm and Character that Chico has to offer with all the admenities of today! This home has been completely renovated from top to bottom- all new dual pane Anderson w...
Beautiful Craftsmen style home! Great location, close to the Bidwell Park! Wonderful open floor plan. Gorgeous Cherry wood laminate floors, ornate hardware & fixtures through...
Even if a home looks flawless, it's a mistake to assume that it's actually problem-free. All homes have defects -- even fairly new ones and brand new ones. So even though home inspections fall on the buyers list of things to pay for, getting a professional inspection before making the commitment to buy is crucial. Be sure to attend the inspection so the inspector can explain any issues.
Home Inspection 101: Here's a glance at how home inspections are supposed to work:
1. Every house should be inspected. Otherwise, you're relying on the seller to be honest enough to tell you every thing that's wrong with the house. And, quite frankly, the home inspector very well could find something that the seller does not even know about.
2. You hire the inspector. You want him to work for you so search around and get advice from your realtor, but make sure you make the final decision on the home inspector. A real estate company often has a list of home inspectors they like to work with. This does not mean you have to use one from the list. You can find lists of certified inspectors at the web sites of the two organizations that certify and train home inspectors: The National Association of Home Inspectors (NAHI) and the American Society of Home Inspectors (ASHI).
4. You will sign an agreement with the home inspector that outlines the scope of his work. The report you'll get about the house's condition after the inspection is for your eyes only and the inspector can only give it to the seller or real estate agent with your permission.
5. A thorough inspection of a 2,000-square foot home should take 2 to 3 hours. A good inspector:
walks on the roof
goes into the crawl space and attic
removes the furnace and electrical panel covers to see what's inside
checks all electrical outlets and switches
opens and closes all windows and doors
examines the insides of closets and the undersides of stairs
checks walls, ceilings and floors for defects
checks water pressure and drain function in plumbing fixture
flushes toilets to make sure they work
checks chimneys and flues to be sure they work
checks the exterior of the home for signs of weather damage, decay and settling
knows the soil and flooding problems in the area where you're buying.
6. Once he's finished with the inspection, the home inspector will go over the report with you, explain the defects he found and point out areas that may need maintenance in the near future.
7. You can ask the seller to correct the defects your inspector finds, or you can ask for money to make the repairs yourself.
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Great oppertunity knocks here with this updated 2 bedroom plus den/office 2 bath home on .25 acre lot. The kitchen has been remodeled with newer cabinets and tile conter tops...
Recently remodeled home,new carpet paint appliances newer roof large outbuilding fenced and cross fenced fireplace with insert,new linoleum,new tiled kitchen across from lindo...
Newer home newer roof, open floor plan, vaulted ceilings, tile counter tops and oak cabinets. Sq footage taken from county tax. Buyer to verify all info.
CLOSE TO BIDWELL PARK! Well maintained home includes: polished hardwood floors, 1491-SF, on .21 acres in Chico. Features include 3 bedrooms, 1 full bath, cozy bonus room with...
Awesome Location!!! This 3bedroom 2 bath is situated on a quiet cul-De-Sac, only blocks away from Bidwell park and Sierra View School. This home features a spacious living/fam...
Better than new condition, eat off the floor clean and great location! Spacious kitchen with tiled counters and tons of cabinets. Master bath has double sinks, tiled shower an...
Charming Home - offers wood beams and wood trim throughout. Large tile, wood product flooring, built in wine rack with custom paint are just some of the special features of t...
Tucked down off the main roads, this gardeners delight has wonderful flowers and trees, great curb appeal, extra's include plantation shutters, nice upgraded interior doors, a...
Located on the end of a cul-de-sac, this acre lot with pool, rv access, dual pane windows, plenty of room for RV and toys is looking for a new owner. Enjoy this large lot and...
North Chico Ranchette on 1 acre with a 20x24 shop. Huge manicured backyard for your family to run and play in. Formal living & dining rooms, great room with vaulted ceilings ...
A little funny for your Friday. Happy Weekend! Next week I will be back on track with mistake #4 of the top ten home buying mistakes.
The FSBO: WHEN A real-estate agency hadn't sold our house, we decided to do it ourselves. I placed ads in the local papers, spray painted a "For Sale" message on a sign board and posted it outside.
When my husband came home that evening, he told me, laughing, that my sign was the most truthful one he had ever seen. Confused, I rushed outside to take a look. In my haste I had printed - "For Sale by Ower."
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Nice condo with a white picket fence. 3 bedroom, 2 bath, 2 story unit featuring granite counter tops, attached 1 car garage, both front and back covered entries. The back ope...
Don't miss this very nice home. Open spacious floor plan. Huge closets. Well cared for and upgraded. Front door opens to large green common area. Good sized fenced back yard. ...
Move in Ready! 3 bedrooms, 2 baths, this home is ready for someone to move right in. Master bedroom offers extra closet space, master bath has separate bath and shower. There ...
Builder closing cost credit 3% conditions appply the meadow-one of creekside's most flexible floorplans. The meadow has luxurious master suite on the first floor and an additi...
All interior photos represent same floor plan model home-beautiful kitchens, baths, and master suite complement chico's best value in new construction. You will feel like the ...
3 bedroom, 2 bath home in the Ambergrove Subdivision is bursting with pride of ownership. Upgraded kitchen & baths, with custom paint throughout. Very inviting backyard for al...
The hawkins on a corner lot & cul-de -sac !! We do not have a model of this one. It is a fantaststic floorplan 4 bed 3 bath. Master suite, bath, walk in downstairs..granite ki...
Buying the first house you look at it is kind of like marrying the first person you go on a date with -- not necessarily a good idea. The average homebuyer looks at least 10 homes over an eight-week search before making an offered. While you don't need to visit every home in the neighborhood, you should compare at least three homes before making a decision.
Here are the top 4 reasons to shop around:
You might find similar features in another home. When you go on your first showing, you have nothing to compare the home's pros and cons with. You might love the soaking tub in the master bathroom, but another listing nearby might have a better -- with a lower asking price.
You'll learn more about each home's resale value. Shopping around can help you get a sense of the neighborhood, and can help you gauge which homes have been over-developed for the area. If you buy the nicest home on the block, your property won't appreciate at the same rate that the surrounding homes do, and you might have trouble selling when you choose to move on.
You'll catch any red flags before you rush in. Rushing to the closing table can also cause you to miss serious maintenance issues. Finding "the surprise behind door number three" is only exciting on The Price is Right, so make sure you look in every room in the house. If any rooms are "off limits" during the showing, arrange to see them later and have your home inspector examine them carefully.
You won't wonder if "the grass is greener" across the street. Surveying your options will also help you avoid buyer's remorse. If you buy without looking at several homes, you could end up feeling as though you've made a mistake. If you still love the first house you saw after visiting a few more listings, you can be confident in your decision to make an offer.
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
This condo has a big back yard with lots of fruit trees. It is one story and is joined on one side. It is on a quiet court and it is more like a house than a condo. Property...
Great deals to be made here. This well appointed condo has very large rooms with lots of windows! Newer dual pane windows, newer carpets, interior paint and newer front door s...
Opportunity knocks at a great price in a very convenient neighborhood. This home is close to shopping, restaurants and PV High School. Nearly new construction but home needs a...
Great opportunity to own a better than new home in quiet, friendly neighborhood. This home is immaculate. Kitchen has been upgraded with laminate floors, stainless appliance...
Cute and clean on the inside and lots of room to roam on the outside! This home features one bedroom and bathroom downstairs and 2 bedrooms and a bathroom upstairs. The large ...
Wonderful floor plan has separate living and family rooms. Spacious kitchen has eating bar, stainless steel appliances, tile floors & counters. Home has been well kept and s...
This home has been done to perfection. Newly remodeled kitchen including counter tops, floating floor & stainless steel sinks. Newer heating and air conditioning & roof. Origi...
Buying the first house you like is not necessarily a good idea. If you don't shop around and see what else is out there, you could miss out on a good deal or potentially regret your purchase. While you don't need to visit every home in the neighborhood, you should compare at least three homes before you make a decision to ensure that you're getting the right house at the right price. So, if you happen to think that the first house you view is the one you want to buy, just make sure to look around at some other houses and make sure you are getting what you really want. Finding a home your really love usually takes time, patience and hard work. Make sure you do your homework ahead of time to avoid buying a house that you find does not suit your needs.
Currently Ryan has about 30+ listings in inventory, and has sold 25 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Short sale: Nice house in quiet subdivision with one of the largest back yards of the surrounding houses. Master bedroom on one side of house, 2 other bedrooms on other. Vault...
Ideal horse property near Chico city limits! The interior was re-painted and re-carpeted approx. one year ago. Perfect setting for someone who needs space.
Original owners! Shows immaculate! Very open floor plan with tile floors and counters through out. Their are 10 ft ceilings along with vaulted ceiling in family room, ceiling ...
Semi-custom hm will feature Granite counters in the Kitchen, Baths & Laundry with custom Cabinets & Built-ins. Master Bed & Bath will have large soaking tub, separate toilet...
Wonderful property. Huge lot with gunite pool. Views of backyard landscaping from the kitchen, dining nook and master bedroom. Many tall ceilings. Possible fourth bedroom. Sid...
Beautiful home with views of the foot hills, european style with tile roof, stainless appliances' and custom counters. Home offers a large backyard fully landscaped with cover...
Fabulous close-in location for this spacious well maintained 3 bedroom 2.5 bath on over 1/4 acre lot in a desirable neighborhood with inground pool. Great outdoor living spac...
This is from a good article I found on www.frontdoor.comabout how you can avoid being in over your head on house payments if you are honest and conservative in figuring out all of your monthly expenses.
In all your excitement about the prospect of buying a house, you'll be tempted to twist your financial numbers so you appear more desirable to a potential lender. Instead of admitting the balance on your Visa is $7,000, you give the more rosy figure of $5,000. It will be lower in a few months, right?
Remember: Buy too much house and you'll be flat on your back financially. Be honest about what you spend and what you can afford house-wise. If you need more encouragement to be harshly honest about your expenses and comfort zone of monthly repayment, simply look at the number of home foreclosures nationwide this week.
Before you decide how much you can afford in monthly mortgage payments, calculate your expenses, including (as applicable):
Loans - car, student, etc.
Insurance - home, car, life, health etc.
Credit Cards
Utilities
Property Taxes (based on cost of the home you are interested in, or your own home -- for questions, call your local tax collector since rates vary)
Food and Entertainment-eating out, groceries, movies, etc.
Kids' School
Retirement Accounts
Trips/Vacations
Gifts
Doctors
Charitable Contributions
And yes, lenders will ask for paperwork backing up all these numbers.
It is also a good idea to get pre-approved for a mortgage amount. Though this isn't written in stone, it will show sellers that you are serious. It will also help to keep you in check when you fall in love with a home priced too far out of your pre-approved range.
But keep in mind, that just because the bank is willing to loan you "x" amount doesn't necessarily mean you should take it (or at least not the whole amount). You know your financial situation best. Keep in mind any future expenses that you know are inevitable (i.e. you want to put you child in a private school, you will be having another child, you need to replace your car soon, etc.). It's best to be on the safe side and enjoy your home without the constant worry about the bills! Maybe that 3 bed, 2 bath house will suite your needs just fine, compared to the 4 bed/2.5 bath that will stretch your budget...
Currently Ryan has about 30+ listings in inventory, and has sold 23 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.
Charming artist's home with many upgrades. Dual pane windows throughout home. Wood floors under carpet. Laminate floor in kitchen, tile floor in bath. Plantation shutters on m...
This turn-key & meticulously maintained one owner home includes a 3 car garage, sep. living & family rooms, kitchen opens to FR, attic storage with drop down ladder, plus ligh...
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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