This is just a tip to keep in mind when deciding to purchase a home.
You can either purchase a “move-in” or a “fixer”. A “move-in” home is one that has gone through the remodeling process and there is nothing to do but bring your toothbrush and move right in. Keep in mind that the house will cost more money, but you will be financing the upgrades through your monthly payments due to the higher purchase price. Since the taxes are based on the sales price, your taxes will be higher also. However, you can move right in and enjoy your new home as soon as the escrow closes.
The 2nd way to purchase is to buy a fixer, which will cost less money due to the work that is needed. Keep in mind that the remodeling will be paid for out of your pocket. However, you will be paying on a lower mortgage and less in taxes because taxes are based on the purchase price. Keep in mind that when I say, “fixer”, I mean cosmetic fixer. If you decide to go the “fixer” route, you will need extra $’s saved which will not include your down payment. The advantages of buying a “fixer” is that you get the house for a lower price, pay less in taxes and you can remodel to your taste - not someone else’s’ taste.
It all boils down to your budget and desire to move right in or go through the remodeling process.
Imagine that you have just inherited a house. It almost seems exciting until... all of the sudden you're hit with extra bills you can't pay, disrespectful tenants who won't leave, repairs you can't afford, etc. The list goes on and on.
What if you don't want to hire an agent? What if you don't want a public listing? What if you don't want people trampling through the house? What if you don't want to pay a commission? What if you just want to get rid of the problem and get your life back?!? That is the ideal situation to call a CASH paying investor to handle the transaction quickly and quietly. I have done this many times and it always turns out to be a WIN-WIN.
My goal is to help you solve your problem, whether that entails going through the conventional listing and sales process, or accepting cash and walking away. The extra benefit you get by letting me help you...? The safety of my experience and security of my knowledge. If you didn't know, California is one of the most litigious states, and it is my job to protect you - no matter what.
Before you call that bandit sign, keep in mind: MARY BUYS HOUSES. FAST. CASH. 818-414-7119
Are you ready for this crazy market now that Memorial Day is over? Well, hang on to your hat and think about entering the hottest real estate market. The housing shortage is creating an incredible “seller’s” market and the low interest rates are contributing greatly as well. I don’t know how long this market will last, but I do know it won’t be forever. If you are on the fence about selling, now is the time to get your house or condo on the market before everyone else does. Once the market is flooded with homes for sale, it will be the end of multiple offers and the “seller’s” market!!!
Call me today to get a FREE property evaluation!
A recent case and a Consumer Finance Protection Bureau (CFPB) announcement demonstrate that we are still not that far removed from the lender problems experienced in the mortgage meltdown. In Berman v HSBC Bank (2017), the lender misstated the length of time for the borrower, who had a notice of default recorded on his property, to appeal the denial of a loan modification. The Civil Code requirements in question, enacted after the meltdown in 2008 (some of which expire January 1, 2018), provide for injunctive relief against a lender for any material breach of notice provisions. The purpose of the injunction was to require the lender to correct the notice and provide the borrower with accurate information regarding the borrower’s rights.
Although the pro per plaintiff was not precise in his pleadings, the appellate court reversed the lower court’s decision and allowed an injunction against HSBC, preventing the lender from continuing with foreclosure on its trust deed, at least temporarily. The court also noted that HSBC could have issued a new notice complying with the statutory requirements anytime during the two and one-half years since the original incorrect notice, which would have ended the need for the present action.
The recent CFPB announcement of its suit against Ocwen Financial Corporation further highlights the lingering effects still felt in the mortgage business. Ocwen is one of the largest mortgage loan servicers in the country. The original lender generally sells residential loans shortly after the loan is made, and the loan servicing may be transferred to another entity (not the loan holder). This is the service that Ocwen provides, specializing in servicing subprime or delinquent loans. It handles customer service, collections, loan modifications, and foreclosures.
In its announcement, CFPB alleges that Ocwen has repeatedly make mistakes and taken shortcuts at every stage of the mortgage servicing process, costing some consumers money and others their homes. “Borrowers have no say over who services their mortgage, so the Bureau will remain vigilant to ensure they get fair treatment.”
I felt this “ALERT” from the California Association of Realtors was well worth passing on.
Update 5/17/2017 @ 1:02 PM Pacific Time – New Phishing Campaign Discovered Today
DocuSign has observed a new phishing campaign that began the morning of May 16 (Pacific Time). The email comes from “email@example.com” with the subject “Legal acknowledgement for <person> Document is Ready for Signature” and it contains a link to a malicious, macro-enabled Word document. We suggest you do not open this email, but rather delete it immediately.
As an update to the frequently-asked questions we originally included below:
Q: Have the email addresses of my employees, customers or customers’ customers been exposed as part of this incident?
A: As part of our ongoing investigation, we can now confirm that no signers were on the list of email addresses that was accessed maliciously unless they had signed up for a DocuSign account. That could include direct DocuSign customers; someone who signed a document and elected to open a DocuSign account; or someone who signed up for a DocuSign freemium account – via docusign.com, through a partner integration, or via the DocuSign mobile client.
Q: Do I need to communicate to all of them?
A: We would encourage you to utilize the existing materials on the Trust Center to help your employees, customers or customers’ customers protect themselves from phishing attacks.
As always, please continue to email firstname.lastname@example.org or call +1-800-379-9973 with any additional questions.
"The spring housing market is off to an early and strong start. With existing home sales for March at the highest level since the great recession, the limited number of homes that are on the market are likely to move fast, potentially choking off sales. Existing home sales for March sailed by last month’s count by 4.4 percent and surpassed March 2016 sales by 5.9 percent, according to the National Association of Realtors. Sales, over the past year, were greatest in the Northeast surging 10.1 percent, while they fell 1.6 percent in the West. Median home sales prices also surged past March of 2016 by 6.8 percent. Price appreciation was strongest in the South and West. A tightening supply of homes is causing this strong price movement. The months of supply of homes on the market fell 13.6 percent since a year ago, while the number of homes on the market fell by 6.6 percent. That means that there are fewer homes on the market and they are selling faster. We are in a strong seller’s market." (Joe Kirchner, Ph. D., Senior Economist)
A pre-approval letter is the one you want when you begin the purchase of a home. You will have to provide your lender with tax returns, pay stubs, bank statements, and more pertinent information regarding your strength as a good buyer.
This information will help your lender give you a price range to stay in. It could be more than you care to spend, and that’s okay. Stay in your own comfort price range.
Besides letting you know what you can afford, it tells Mr. Seller that you did your homework and that you are a serious, strong buyer. This is especially essential in a multiple offer situation.
A pre-qualification does not require any of the above documentation, and therefore, is not sufficient for Mr. Seller…nor does it tell you what you can afford. Sometimes a pre-qualification can be verbal or sometimes it’s in the form of a brief letter, but without any of the necessary documentation needed.
Do you have a few home improvement projects to tackle in the coming months? A quick search on the internet can result in an array of DIY tutorials and videos, but just because you can do it yourself doesn't mean you should. Here is a handful of home projects that are better left to the pros:
Trimming trees brings you face to face with several hazards, including using tall ladders, climbing trees and working at unfamiliar heights. Then there are the dangers of overhead power lines, unwieldy chainsaws and falling branches -- all sobering risks, even for experienced tree care experts.
You can probably handle a gutter cleaning if you have a low-slung roof, but anything more should give you pause. DIYers face the risk of a fall due to the steep slopes and angles of most rooftops, as well as bungling the job. If you don't know what you're doing, you may end up with water damage the next time a storm passes through.
Suspecting you have this toxic substance in your home isn't necessarily cause for panic, but it is a major health hazard that warrants a professional opinion. Some states, counties and cities regulate asbestos removal by homeowners, requiring a permit, proper disposal and more.
Gas, Electricity and Plumbing Fixes
With one wrong move, do-it-yourself work on gas, electrical and plumbing lines can turn into a big mess. A plumbing fail can quickly flood your home, while a botched gas or electrical job can result in a fire.
Saving money may make a DIY approach inviting, but disastrous results aren't worth it. Be smart about what you choose to tackle around your home and what you leave to skilled experts
TIP: Usually your realtor will have many referrals they can share with you.
We have all heard of those 3 little words above, but many buyers throw caution to the wind letting emotion take over when they walk into that perfect little house in a less than desirable area. Whether you're a first-time buyer, investor or existing homeowner, you need to understand the best locations for your investment. Purchasing a home is an investment to live in and hopefully realize a profit when it’s time to sell at a future date. Also, work with a real estate agent who knows what they are doing and can guide you through this emotional and complex process.
Did you know that an escrow period does not have to be 30, 45, 60, or 90 days??? It could be 23 days or 14 days or whatever length of time is unilaterally agreed upon by buyers and sellers. More often than not, investors who pay cash for a property have a 7-14 day escrow period. The goal is to give the seller money in order to get out of a bad situation quickly and to move on with their lives. By paying cash and purchasing "as-is," both parties can forego the lengthy loan application process.
This current market can be VERY challenging for homeowners. Many are struggling to get a gauge on their best options. With my guidance, you can make the right decisions immediately and avoid making huge mistakes concerning your biggest and most important asset. I'm here to show you how to eliminate uncertainty, focus on what you need NOW and win.