Tag Archives: Services

Realty Check — Wide Variety of Mortgage Options Available to Homebuyers!

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Choosing a mortgage loan years ago used to be like buying a car in the days of the Model T. As the old joke goes, buyers could have any color they liked as long as it was black. The same was true with mortgage financing. Homebuyers could pick any loan, as long as it was a 30-year fixed-rate with 20 percent down. Today, consumers have a wide variety of loan options from which to choose. In fact, with so many different types of mortgages available, selecting the right one can seem overwhelming. But the good news is that an experienced mortgage loan expert from a company like Princeton Capital, Coldwell Banker Residential Brokerage’s mortgage affiliate, can clarify your options and help you select the mortgage that is right for your own personal situation.

Choosing the “best” mortgage product really depends on your financial circumstances, how much you intend to put down, how much home you’re looking to purchase, how long you intend to stay in the home, and many more issues. According to Princeton Capital, some of the choices that may be available to you include:

  • Fixed-rate mortgages. While buyers can still pick the traditional 30-year fixed, they also have the option of selecting fixed-rate loans over 10, 15, or 20 years. In fact, borrowers can even pick a 40-year period in some cases.

The advantage of a fixed-rate mortgage is that you always know what you will pay every month for the life of the loan. So if interest rates go up, your monthly payment won’t be affected. Conversely, you wouldn’t benefit if rates go down unless you refinanced.

Fixed-rate mortgages are typically recommended for those who intend to live in their home for quite a while, usually at least five years or longer. The 10-year and 15-year fixed product may be good for those looking to refinance their mortgage and pay off their home faster.

  • Fixed-period adjustable rate mortgages. These loans, often referred to as “hybrid ARMs,” feature an initial fixed interest rate period, after which the interest rate becomes adjustable for the rest of the loan term. These periods that these loans remain fixed are typically three, five, seven or 10 years.

Advantages of hybrid ARMs: They generally offer lower rates during the fixed period than traditional fixed-rate mortgages. But once the introductory period is over, the rate is subject to change based on the financial index to which the rate is pegged. If interest rates are rising, your monthly payment could rise as well.

If you believe interest rates are likely to go down in the future, this may be a good choice. But a word of caution that rates are already low by historic levels. A hybrid could also be the right option for someone who intends to stay in their home for only a limited period of time and plans to sell their property before the fixed period ever expires.

  • FHA and VA Loans. Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans are popular homebuyer choices because they require a lower down payment and credit score than conventional loans. But there are eligibility requirements and maximum loan limits, so they’re not for everyone.

FHA loans are private loans insured by the federal government. They’re popular with borrowers who don’t have enough funds to pay a traditional down payment because they require only 3.5 percent down to qualify. But borrowers are required to pay mortgage insurance, which slightly increases their monthly payments. Additionally, there are loan limits on FHA loans based on the cost of housing in a particular county, ranging from approximately $271,000 to $625,000.

Like an FHA loan, VA loans are private loans insured by the federal government and are popular with those qualified borrowers who don’t have enough money for a traditional down payment. VA loans can help reduce down payment requirement, sometimes to zero. But VA loans are only available to qualified military veterans and their families and are only available to these individuals for their own primary residences. Also, while there are technically no limits on how much a veteran can borrow using a VA loan, there is a $417,000 maximum amount the government will guarantee on these loans.

The good news in all of this for homebuyers is that there are many more mortgage loan options available today than there were years ago. But finding the right choice for you can be complicated. I would be happy to help answer some of your questions and put you in touch with a mortgage loan professional to get further information. Just give me a call. I’m here to help!

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack Edwards, your real estate advocate, specializes in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com  BRE License # 01331087
©2014 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned by a Subsidiary of NRT LLC. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. CalBRE License #01908304

One Cool Thing — It Pays To Use a Realtor

ItPaysToUseRealtor

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack Edwards, your real estate advocate, specializes in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com  BRE License # 01331087

 

©2013 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned by a Subsidiary of NRT LLC. If your property is listed with a real estate broker, please disregard. BRE License #01908304

Getting Ready to Sell Your Home…

Some great ideas brought to you by Jack Edwards at ElkGroveRealEstate.com  If you are planning to sell your home,  I am sure that your agent probably gave you a list of things to do to get your house ready. I have a handout with 44 things to do to get ready to sell that I share with my clients. If you want a copy of my list, don’t hesitate to contact me a Jack@ElkGroveRealEstate.com

In the true spirit of giving credit where credit is due, much of the info below is not something that I have been sharing with my clients, at least in this format. I will in the future, but thanks to a posting on Facebook by fellow Realtor, Sue Gibson, I am sharing her list with my modifications and additions.

Put together binder with the info below. Gathering this information before you put your home on the market may even help your home to sell faster as all of this information is available upfront, eliminating the need for guesswork and waiting on answers while another property could possibly come on the market to grab the buyer’s attention.

1. Home improvements you have made.  Provide paint recipes, wallpaper swatches, etc. Anything along these lines makes it easier for the new homeowner to match and plan. Make sure the paint cans in the garage are well marked too. If you had your house painted, re-roofed, etc… make sure to have the receipts/warranties/estimates available too. If you installed the sprinklers, please leave behind a copy of the plan so that it is easier for the new owner to make repairs or to know where to dig or not dig. A copy of your landscape plan would be helpful too.

2. Floor Plans – Buyers often need to know room dimensions to help with furniture placement n the new space. It is great to be able to provide the floor plan, but be careful about putting in the measurements. If you make a mistake, you may be held liable for the errors. I would just provide the floor plan and let the new buyer use it to record their own measurements. If you don’t have a copy from when you bought the house, ask your Realtor because he or she may have a copy. I keep copies of floor plans for all developments in my area since the time I started my real estate business.

3. Utility Bills – Buyers want to get an idea of what they can expect the heating and cooling bills to be in a home. This information can be very beneficial when a buyer sits down to number crunch their total costs of owning a home.

4. Pest Control – If you maintain any type of pest control on your property, compile information as to who the provider is, what you have done, how much you pay and how often does the company come out to treat the property. A copy of your service agreement is helpful in this instance.

5. Insurance – Buyers especially want to know who a seller uses for their homeowners insurance and how much they pay. This is particularly the case in higher risk areas (where there are hurricanes, floods, fires, etc.) With homeowners insurance potentially more difficult to obtain in some areas, going through the existing seller’s insurance company can help streamline the process, particularly on an older home.

6. Product Manuals and Warranty Documents – Now is the time to gather the various product manuals for all items that will be staying in the home such as appliances, water heater, heating and cooling system, ceiling fans, pool equipment, etc. If your home came with any warranties, be sure to include these for the new owner as well. Putting all of these in one large envelope makes it easy for everything to be readily accessible in one place for the new buyer.

7. Service providers – Compile a list of all service providers/vendors and their contact information who you have used on your home – lawn service, pool service, A/C company, garage door company, etc. While a new buyer may or may not choose to use these services, they will certainly appreciate having resources available to them.

8. Covenants and Restrictions, Neighborhood Rules and Information – Yes, it is true that the potential buyer will get a copy during the escrow process, buy it is a good idea to have this info available before the buyers show up. This is key critical information for a new owner to have on hand. A contract may likely hinge on the buyer’s review of this information, so it is best to have it available ahead of time. If you don’t have these, contact your neighborhood’s association president or management company for assistance in obtaining a copy. Many of these documents are matters of public record and are available by going online to the appropriate municipality’s website.

9. Survey – especially if you have acreage or a large lot, you might want to consider a survey. Have this document available and provide to your listing agent so they can include in the information about your home. Buyers want to know about property lines, easements, conservation buffers, if there is room for a pool, if the property line extends to the water behind your home, etc. Having a survey to provide upfront will help to eliminate these types of concerns vs. waiting until a property is under contract.

10. Important contact numbers, addresses, websites and email addresses – it is especially important that a potential buyer knows who to contact to contact when they need help. For example, who handles the Home Owners Association administration. Often it is an outside company that handles it all, and your buyer needs to be able to make contact with them.  You might even leave a list of your favorite stores and service providers. How about getting the water, gas, electricity out of your name and into theirs. They will need that info to make it happen. Last of all you may want to think about leaving your contact info behind so that the new buyer can call or email you if they have questions or if they find that you left something behind, like a box of photos up in the attic.

If you don’t have all of your contact numbers at hand, you may find them on my website at www.LivingInElkGrove.com on the “Utilities” page or the “Links” page.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack Edwards, your real estate advocate, specializes in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com  BRE License # 01331087

 

©2013 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned by a Subsidiary of NRT LLC. If your property is listed with a real estate broker, please disregard. BRE License #01908304

One Cool Thing — What Buyers Like Most About Their Realtors

Here is a little graphic that points out
what most clients liked about their Realtor.

 We at ElkGroveRealEstate.com hope that you found several reasons to like us and to appreciate our efforts as we helped you buy or sell a home in 2013.
WhatBuyersLikeIf you liked what we did to assist you, please take the time to write an email to tell our Broker, Jeff Talani, or take the time to recommend us online. 
http://www.stik.com/recommend/JackAEdwards

Your support is always appreciated.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack Edwards, your real estate advocate, specializes in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.com  Our mobile clients can find us at Mobile.ElkGroveRealEstate.com  BRE License # 01331087

 

©2013 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned by a Subsidiary of NRT LLC. If your property is listed with a real estate broker, please disregard. BRE License #01908304

Thank You for a Great Year

We had a great year at ElkGroveRealEstate.com

Why, do you ask? It is all because of you, our friends and clients, who trusted us to provide you the best real estate professionalism in our community. Just like you, we know that Elk Grove is a great place to live, shop and play. Don’t forget to check out or informational pages at LivingInElkGrove.com and ShoppingInElkGrove.com

Another reason we had a great year at ElkGroveRealEstate.com was that our youngest son, Joshua, who had been our Transaction Coordinator, decided to join us as a Realtor. He passed his test and now we are working as a family, assisting you and your families.  Joshua is still going to college but joins me with clients to learn the business through first hand experience when it fits with his college schedule.

Thanks again for helping us have a great year
as your Realtors.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack Edwards, your real estate advocate, specializes in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com  BRE License # 01331087

 

©2013 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned by a Subsidiary of NRT LLC. If your property is listed with a real estate broker, please disregard. BRE License #01908304