Practical Purchase Options
Pondering a Foreclosure
The hard fact many of us successful individuals cannot afford to buy a home in the state we live in. For example, I live North of San Francisco, Ca 90 miles. I have witnessed the last 4 years this state turn to the haves and have nots. The worry continues robbing one’s life from better life results. Have you had it with the distorted view of the facts? If yes, then get busy and analyze all sides and put together an action plan. Don’t let fear determine your reaction towards relocating elsewhere in the USA. Go on a fact gathering mission.
Have you wondered about foreclosures
What are foreclosed homes exactly? Foreclosed homes are real estate properties whose owners failed to make the mortgage payments. So, the bank took over the property and tries to sell it to get back the investment it made. The newbie property investor should know what you’re getting into.
There are always benefits and consequences to every aspect of real estate. Buyer beware of these essential for property investors to take full advantage of the benefits and avoid the pitfalls. Our content has highlight a few pros and cons of buying foreclosed homes as income property.
Foreclosed homes are cheaper investment properties due to a distressed situation which lowers their market value in a normal real estate market. Astute property investors find foreclosed homes are a bargain in the real estate business. If you are of the mind set seeking to purchase foreclosed property have your cash on hand.
New Home Price Nightmares
According to the NAHB aka National Association of Home Builders, Chief Economist Robert Dietz shares the reality “Residential construction material costs are up 19% year over year, with cost increases for a variety of building inputs, except for lumber, which has experienced recent declines due to a housing slowdown,” What’s more, “The increase for mortgage rates for the first half of 2022 has priced out a significant number of prospective home buyers.” The prediction is first time home buyers will be left out of the market unless a wealthy family member is willing to provide the down payment.
SHOUT Inequality for Middle & Low Income Earners in California
Who Gets to Call California Home? California is the one of the most diverse states in the nation. There is no housing opportunity for low-income people. I see first-hand do to I reside in CA and among those being squeezed out. The decade of housing shortage and non-equitable policies, political climate and projected improvement can be reviewed in this multidimensional report Commissioned by the Center for California Real Estate. https://www.ccre.us/reports
How We Do It
We are out-of-the-box problem solvers!
Home is a Major Investment
It is also the center of your personal life. It’s important to live in a home that reflects your taste and your family values, yet is within your financial “comfort zone.” To that end, it may be more important to lock in today’s relevant interest rate, rather than to hope for a further break in prices in the future.
Is it a good time to buy?
Home prices are one factor in determining your cost or ownership, but so are interest rates and financing availability. Since your monthly mortgage payment is a combination of paying down interest owed, if home prices come down a little further but interest rates go up, it could cost you, even more, to service a mortgage on an identical home. KEEP this in mind mortgage interest is a tax write-off.
Decluttering -n- Pet Smells
When it comes to home staging, decluttering is one of the biggest jobs on your plate. Consumers’ excessive consumption often shows through crowded closets, messy countertops, and pet toys and mats. When you have excessive items crammed into every nook, their presence gives a subliminal message that this house is already taken.
Depersonalize the home and take care of any pet odor. When your home is viewed by families who own canines straighten up that area so they can visualize home sweet home for the whole family.