firsttime home buyers: Sacramento's First-Time Home Buyers Are Happier Than Sellers and Here's Why
- 10/04/09 02:40 AM
Agents have asked me how I manage to maintain my positive attitude and cheerful disposition, especially while tackling the challenges inherent in Sacramento's real estate market today. I believe it's my nature to be cheerful -- I mean, given the choice between a glass half-full or half-empty, I'll take the one with champagne. But my clients also keep my mood elevated.
As a Sacramento short sale agent, my sellers are thrilled to sell their homes, but it's a bittersweet happiness, sort of a two-edged sword in a way. True, I have helped them to unload a troublesome liability but they have … (7 comments)
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firsttime home buyers: Ask Your Sacramento Agent About the Free Mortgage Protection Program for Home Buyers
- 08/16/09 02:30 AM
A client called yesterday to share bad news with me. Patricia (not her real name) just received a pink slip and will soon be out of work. She is part of the national growing trend of single women home buyers, and had bought a home last month in College Greens, a popular Sacramento neighborhood just over the river near Sac State. It closed a few weeks ago. But instead of sounding depressed over the terrible news, Patricia was bubbling over with enthusiasm and joy. I was confused.
The reason for Patricia's giddiness was because although many of Patricia's friends had encouraged … (8 comments)
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firsttime home buyers: Why Buying Your First Home is A Lot Like Playing ZUMA
- 05/19/09 03:02 AM
OK, I admit it. Sometimes I play computer games. Not all the time 24/7 but a round or two of Bejeweled -- after a stressful phone call from an irate buyer's agent who can't understand that list prices of Sacramento short sales mean nothing -- keeps me in my usual calm, happy and peaceful state. For the past few months, I've been playing ZUMA, another addictive Pop-Cap game.
Zuma's premise is simple: A bunch of colored balls roll merrily along a path. A ball appears in the frog's mouth. The player aims and clicks the mouse to hit 2 or … (11 comments)
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firsttime home buyers: Refinancers and Home Buyers: Here's When Your First Mortgage Payment is Due
- 05/09/09 02:27 AM
A first-time home buyer in Sacramento asked me when her first mortgage payment would be due. So, I figured if she doesn't know when her first mortgage payment is due, others, even those who are refinancing an existing mortgage, may have the same question.
First, understand that the interest portion of your mortgage payment, which constitutes almost your entire payment, is calculated in arrears. Unlike a rent payment, which is paid in advance, a mortgage payment is paid for the previous month. Sound confusing? It sort of is.
Say, for example, that you closed escrow today, on May 9th. Your first … (5 comments)
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firsttime home buyers: There's at Least One Lucky Natomas Buyer Who's Very Happy Right Now in Sacramento
- 04/29/09 02:39 AM
A fortunate aspect of listing so many short sales in Sacramento is the fact that I get to see how other agents write offers on short sales. Some of my short listings each receive 10 to 12 offers. I try to help buyers' agents when they call by explaining that they need to check the comparable sales before writing an offer and base their offer on the comps.
One agent said to me yesterday, "What are comps?" Another sent an offer with one price at the top, a different price at the bottom and no loan information in between. Almost all … (10 comments)
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firsttime home buyers: Sacramento Home Buyers: Change the Locks, Foreclosure or Not
- 03/29/09 03:39 AM
Often, I hand out printed copies of my home buying process article to first-time home buyers in Sacramento when we first meet. It walks buyers through 18 steps, from hiring a buyer's agent to closing. I suspect they read through step 17, and then jump back to step 3: looking at homes for sale. Because searching for a home is a lot of fun.
Well, I think so. Some buyers may disagree with me. I love to look at homes. Not all buyers enjoy that part. Not every buyer wants to trudge through foreclosures, interrupt short sale sellers during dinner or … (17 comments)
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firsttime home buyers: Sacramento's First-Time Home Buyers Face Stiff Competition
- 12/10/08 01:10 AM
Sometimes visitors come to my web site, sign up to receive daily emails containing new listings, and they never respond to the personal email I send them. I don't believe in generating automatic responses because I want visitors to know that if they have taken the time to poke around my site, read some of my articles, look at Sacramento market trends or watch virtual tours of homes for sale in Sacramento, they deserve a personal welcome from me. But, when I ask them to be more specific about what they want or offer to help them, half the time they … (13 comments)
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firsttime home buyers: How Many Homes Do Buyers Look At Before Making an Offer?
- 12/09/08 01:16 AM
I like to equate home buying with the red shoe shopping experience. Women will know what I am talking about. Red shoes, for me, are the hardest shoes to buy. They are special. Powerful. And must be perfect. So, if I walk into a mall and spy the **perfect** pair in a display window, I might be tempted to go to every other shoe store in the mall to see if I can find a better pair of red shoes. I know in my mind that I should just buy the first pair I see, but sometimes I like to validate … (14 comments)
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firsttime home buyers: CalHFA Announces New Program for REO Homes
- 08/21/08 11:07 AM
The California Housing Finance Agency is making funds available for first-time home buyers to purchase select REO homes at discounts at a minimum of 12% below market value and at low, fixed-interest rates. All the ZIP codes in Sacramento are eligible for this program, but to find the specific list of homes for sale, you need to check CalHFA's Web site. The sales price limit is $580,000. It's called the Community Stabilization Home Loan Program.
The program is funded by the sale of $200 million of tax-exempt bonds at no cost to California taxpayers. When the money is gone, the program … (8 comments)
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firsttime home buyers: Attention Land Park Shoppers: When You Find a Home You Like, Make an Offer!
- 08/11/08 04:42 AM
When I meet with new home buyers, I often give them a booklet I have prepared especially for them. In it, I include a 50-point buyer plan that details precisely what the home buying process will involve and what I will do for them. I also print out the Home Buying Path article I wrote that includes 18 steps to buying a home. Of course, I can't force anybody to read that stuff, but I hope that they will. Most of the time, buyers are too excited about looking at homes in Land Park to read through the booklet after … (8 comments)
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firsttime home buyers: A Cactus Flower Blooms for Only One Day
- 07/19/08 02:00 PM
If you miss a cactus flower bloom on the day it bursts into splendor, you have missed it forever. There is no turning back the clock. You've got to catch the moment when it arrives or it's gone.
It's very similar to a new listing that pops on the market. The minute a home that fits your parameters appears, you should take action. If you want to sleep on it, call Tom, Dick and Harry to discuss it, it's likely to be gone by tomorrow.
Homes are unique. No two are exactly the same, even if you are looking in a … (7 comments)
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firsttime home buyers: Recycling and Gifting is Better than Sending Stuff to the Landfill
- 07/19/08 05:12 AM
My husband is aghast that I am giving away our refrigerator. He says I should sell it on Craigslist and pocket the $300 or so we could probably get for it. He wasn't in favor of buying a new refrigerator anyway. Our Kenmore has been chugging along for almost six years without causing us one lick of trouble. It's in excellent shape, no dings or scrapes, and it's energy efficient.
But it's not as efficient as our new GE Profile with French doors and bottom freezer. Plus, let's face it, our old refrigerator is not stainless. (That's what kitchen remodels do … (10 comments)
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firsttime home buyers: First-Time Home Buyer Angst and Stress is Normal
- 06/26/08 02:12 AM
Probably because of the lower prices in Sacramento, I have been working lately with a larger than usual number of first-time home buyers. Almost 80% of my closed sales for the last quarter were first-time home buyers. The other 20% were investors, and investors are hot-to-trot over entry-level homes as well. Throw into the mix that much of the inventory offered for sale are bank-owned homes or short sales, and you've got a lot of competition for some homes.
It's not easy for buyers to write that first offer. Many are filled with trepidation that they will screw up somehow or … (5 comments)
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firsttime home buyers: Negotiating in Buyer's Markets
- 02/15/08 04:10 AM
I often hear from other agents that buyers in today's market place are difficult to work with, and I can't honestly say that has been my experience. Oh, we always seem to encounter the buyers who aren't really ready to commit but, for the most part, my buyers are delightful, especially the first-time buyers. First-time home buyers make my job fun and exciting. Especially when it comes to negotiating for them.
However, some buyers don't seem to understand that buying a home is a dance, it's a negotiation, not much different from making any other major lifestyle purchase. It's not like walking … (5 comments)
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firsttime home buyers: Buying Brand New Homes -- Buyer Caveats
- 12/03/07 05:13 AM
So, you've driven past the new subdivision, watching the bulldozers move the earth to carve out streets and level lots for building. You may have thought about inquiring at the sales office. But then the sign goes up, advertising these homes at a price you can afford. Should you? Could you? Before grabbing your spouse and stuffing the kids in the car, call a local real estate agent and ask that agent to show you the brand new homes. It's in your best interest to be represented by your own agent and not the builder's agent. Because once you step foot … (6 comments)
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firsttime home buyers: 12 Ways to Find a Down Payment
- 11/25/07 05:44 AM
Because of pending legislation that threatens to take away down payment assistance for buyers from such organizations as the Nehemiah Corporation, it's no wonder home buyers are concerned about how to find a down payment. Sources are drying up. It can be a struggle for many first-time home buyers, especially those in high priced areas who fall just over the conforming loan limit of $417,000.
In some cases, by making a down payment of 20% or less, that act alone could let a buyer obtain a conforming loan, instead of being required to pay a higher interest and, by extension, even … (14 comments)
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firsttime home buyers: First-Time Home Buyer Tips
- 11/20/07 08:35 AM
First-time home buyers are often reluctant to call a real estate agent until they are absolutely, positively confident they will buy a home. And even then, many get cold feet during the process, so don't ever worry about needing to be 100% committed to buying a home. It's completely normal to feel uneasy and unsure. I've known home buyers who weren't certain they would move in to a home until the day it closed escrow!
However, calling an agent before you are ready to begin the home buying process can be advantageous to you. As a first-time home buyer, you might … (2 comments)
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firsttime home buyers: HOME BUYING GUIDE FOR FIRST-TIME HOME BUYERS
- 11/18/07 02:03 AM
There is a saying that it's good to learn from your own mistakes, but it's even better to learn from the mistakes of others. That has never been more true than when you set out to buy your first home. The process can be overwhelming, but by breaking it down into steps, it makes the journey a lot more pleasant and, dare I say, even FUN! My Guide for First-Time Home Buyers takes home buyers by the hand. You'll begin by figuring out whether home ownership is right for you. Psst: it's not for everybody. Some people are better off renting, … (2 comments)
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firsttime home buyers: October Trendgraphix Report for Sacramento
- 11/14/07 12:14 PM
Lyon agents have exclusive data pertinent to the market in Sacramento. No other agent in Sacramento has access to this data. Why not ask your Lyon agent for a Trendgraphix report specific to your neighborhood?
Here are a few numbers and statistics I can share with you:
The good news is sales have increased 9% in the tri-county region in October over September. However, broadening the picture, October sales were down 24% over sales from the same period in 2006, yet pending sales -- those which have entered escrow but not yet closed -- increased 36% over last month.
Other good news, the … (2 comments)
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firsttime home buyers: 10 Ways to Lose Your Home
- 11/01/07 04:28 AM
I've yet to run into a home buyer who expects to end up in foreclosure. But often the signs are there, before the home owner even recognizes them.
As real estate professionals, it is our duty to disclose adverse conditions that could affect our clients and to protect our clients' interests. I believe it is essential to counsel each and every client, especially first-time home buyers, about the possible drawbacks to buying a home, and how their actions, as well meaning as they may be, can come back to bite them.
Many buyers don't realize that lenders often revisit credit reports before closing. … (0 comments)
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Agents have asked me how I manage to maintain my positive attitude and cheerful disposition, especially while tackling the challenges inherent in Sacramento's real estate market today. I believe it's my nature to be cheerful -- I mean, given the choice between a glass half-full or half-empty, I'll take the one with champagne. But my clients also keep my mood elevated.
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