California Real Estate Advisor

10/22/2019

Learn from the best to get the best results. Michael Lam from Kaydoh, Inc is very knowledgeable and gets results fast.

✋ Stop focusing on 𝗷𝘂𝘀𝘁 𝗴𝗿𝗼𝘄𝗶𝗻𝗴 your 𝗼𝗻𝗹𝗶𝗻𝗲 audience.
Start 💪 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 relationships 𝗼𝗳𝗳𝗹𝗶𝗻𝗲.
Today we met with Scott Bayhouse from Scott Bayhouse - Mortgage Lender and Tim Truong from KW.
We've 𝗻𝗲𝘃𝗲𝗿 met before in person, but since both were local, we took our relationships a step further.
We ended up learning a lot about each other 👍
Scott has an impressive background in the mortgage industry and Tim has shared some powerful stories about how he's helping his clients save $$ money on both ends of the deals (buyer or seller).
We talked about 𝗸𝗲𝘆 𝘁𝗮𝗰𝘁𝗶𝗰𝘀 in social media both could use for their business to stand out.
✅ 𝗪𝗲 𝗮𝗹𝘀𝗼 𝗴𝗮𝘃𝗲 𝗼𝘂𝘁 𝘀𝗼𝗺𝗲 𝗼𝗳 𝗼𝘂𝗿 𝘀𝗲𝗰𝗿𝗲𝘁𝘀 🤫 𝗶𝗻 𝗺𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴.
We can't wait to share them in our upcoming speaking engagement at NAR REALTORS® Conference & Expo this year.
We'll be sharing how to grow your brand over on 𝗟𝗶𝗻𝗸𝗲𝗱𝗜𝗻...a market still untapped by real estate professionals.
We're going to uncover easy, practical steps 𝙮𝙤𝙪 𝙘𝙖𝙣 𝙩𝙖𝙘𝙠𝙡𝙚 𝙩𝙤𝙙𝙖𝙮.

05/21/2019

Thinking about buying a home?

***Step 1: Speak with a lender***

So many people make the mistake of waiting until the last minute to get pre-approved. Rarely does this end up not impacting them negatively in some way or another.

There are many advantages to getting pre-approved as early as possible, even if you have no intention of buying a home for a year or more.

The old adage, "Proper planning prevents poor performance" could not be any more true when it comes to buying a home. The following are some examples of what happens when you decide to be intentional and proactive throughout the home buying journey, from your initial conversation with a lender to the signing of your closing papers.

1. You can research local lenders and find one with great reviews to work with. Typically a top notch lender will take the time to share valuable knowledge with you so that you feel more comfortable and confident with your decision to buy or to continue renting. If you don't feel like you got this out of the first lender you met with, then keep searching for one that does make you feel more informed.

2. You will have the time to examine all types of mortgage programs. Some programs are as basic as the standard 20% down, 30 year term, fixed rate programs that anyone can do. Other programs are geared more toward first time home buyers, and even offer down payment grants and/or equity sharing. Starting early and being able to figure out which program best fits your needs will definitely be a stress reliever.

3. The third reason is often overlooked by a lot of buyers simply because they had no idea it could even be done, and it has to do with the type of pre-approval.

There are three types of pre-approvals.

1. Pre-Qualification
2. Pre-Approval
3. Platinum Approval

You can only submit an offer to buy a home with #2 and #3, but the Platinum Approval is going to get the attention of the seller and make you a serious contender when battling multiple offers from other buyers.

Imagine already having an underwriter approve your loan before you have even identified a home to buy. This is an extra step that allows you to offer to buy the home without requiring a loan contingency period, thereby letting the seller know that your loan is almost as good as a cash offer.

It takes some extra time to get Platinum Approved, so waiting until the last minute to do this will remove this option from the table.

There are even more reasons to speak with a lender early and often in your home buying journey, but these are just a few of the top reasons I know of when considering why getting pre-approved sooner rather than later will help you save time, money, and heartache.

01/17/2019

When is it a good time to buy a home?

In many cases the answer is as soon as you are able. Of course there are some scenarios where home ownership doesn't make sense, but those cases tend to be few and far between. It's always best to meet with a mortgage professional right away to get a "financial diagnostics check" as I like to call it. You don't know what you don't know, until you know it.

Many people are hesitant to go digging for all the information that a lender needs for this "diagnostics check." They say they are too busy right now, or aren't ready to buy.

If they only knew what they were missing. Buying a home is typically the largest purchase any of us will make in our lives. Taking the time to get pre-approved as early as possible even though you might not buy for a year or more is the best course of action.

Many people are surprised to learn something of great value that they didn't know before meeting with a mortgage professional, and this new information allowed them to be much more prepared to buy a home. It has saved them time, money, and stress.

Trying to time the market?

The reality is that for most people the home buying process takes four to six months, so there's no way to predict what the market will be like when you are ready to move forward. The benefits of buying as soon as you are able outweigh the extremely small chance of timing the market "just right."

If you have been dabbling with the idea of buying a home anytime in the next year or two, I'd highly recommend you meet with a lender to find out your options regarding down payment, loan programs, closing costs, and estimated monthly payments. With this knowledge you can set a plan into motion that will set you and your family up for greater success.

01/15/2019

If you are looking to retire and sell your home, but you don't want to pay more in property taxes, take a look at this valuable piece of information attached. If you move to any one of the ten counties listed here, you can do a one time transfer of your property tax base.

12/11/2018

Wow! Talk about the right time to buy! Take advantage of the recent stagnation in home prices along with rates before they both start going back up.

12/04/2018

http://www.mortgagenewsdaily.com/12032018_millennial_homeownership.asp

It's no surprise that home ownership is a top priority for Millennials. It's our job as real estate and mortgage advisors to make sure they are buying at the right price point based on their goals for now and the future.

While their behavior thus far doesn't do much to validate it, a survey by Bank of America (BoA) finds that Millennials put a high priority on homeownership . In fact, among members of that generation responding to the company's 2018 Homebuyer Insights Report...

10/13/2018

http://www.mortgagenewsdaily.com/10122018_mortgage_underwriting.asp

No surprise here. Debt to income ratio kills a lot of mortgage deals, and lately it seems it's the number one killer of qualifying for a loan.

10/10/2018

https://www.bloomberg.com/news/articles/2018-10-05/the-next-u-s-recession-is-moving-further-away

Looks like interest rates will continue to climb for awhile as the economy continues its upward trend.

The probability of an economic downturn in next year continues to drop

10/10/2018

Want to know the difference between renting and buying long term? Here's a great info-graphic that takes all the most important data points to consider.

10/10/2018

Great information about the average home price in Santa Clara County.

10/10/2018

http://speakingofrealestate.blogs.realtor.org/

Take a look at this informative blog about real estate!

Speaking of Real Estate: