Good morning to Springtime Home Buying,
Here are some fun facts for those looking outside the more common preference of “Mountain View, Sunnyvale, Cupertino, etc.” See if any of these might help you:
- Zero down financing? Yes. In areas like Hollister, San Juan Bautista, Prunedale, Ben Lomond, Brookdale.
- Zero down VA loans? How about to a purchase price of about $ 680,000 – in the Bay Area – and only 25 % down for a purchase price in excess of the 680 K limit. For example: $ 900,000 purchase has a down payment of about $ 44,000.
- Help for Teachers? Lendsure in San Francisco is providing down payment assistance.
- Investing with you? Yes. Equity partner companies will provide a good chunk of down payment – no payments to you – for a percentage of future appreciation.
With lending options like these. opening more and more doors, let’s talk.
- As we thought, the Federal Reserve increased short-term rates by 1/4 %. Looking ahead, the chance of only 2 more upticks, not 3, have narrowed to 50 / 50. The answer may focus more on GDP growth and productivity, than just inflation.
- Affordability: Statewide, the index continues flat. This gives indication wage increases have kept pace with home price over the past few years.
- Wage vs Affordability: Nationwide, wage-earners who are qualified to buy, have seen their wages jump by 4.7%. When put with the tool used to measure home affordability, the median priced home is now more affordable, to more buyers.
- Interest Rates: Look for rates to finish the year about 1/2 % higher than today. Add to this, the effect of the Federal Reserve’s latest planned reduction in their repurchase activity, beginning April. It is the start of the 3rd such reduction.
- Though rent increases are slowing with more “for rent” signs showing, we do not hear of a softening in the rental home market. Rent controls can confuse.
Recent Residential Success Stories
One of our clients has now purchased their 3rd home, in the San Jose area. And with careful planning, preparation, and sound discipline, their other 2 homes are now rentals. You would be amazed what this has done for their balance sheet these past 15 years. It is good when both real estate and stocks, secure one’s future. Give us a call.
Our second success story – the tried and true “1031-exchange”. With this useful tool, we knew the target and the timing. From here, we line-up the right financing and successfully closed. Key was working through the property condition, knowing the appraisal is critical. Due to the time restrictions, game planning is a must. Delays don’t work. Were there other options for deferring taxes? Yes, and we talked through each of them, to be sure. If this is the success you seek, give us a call. Let’s talk.
Working with our Realtor partners, we have a yearly goal:
‘To close one more transaction than they otherwise expected’
Because You Matter
Remember, key to any successful endeavor beings with the first step – the initial consultation with those having the tools and expertise you need. Make no mistake, maximizing the use of your money, time, and opportunities means first becoming aware, so you are then ready to act.
Here is a quick summary of lending options we offer, to meet your plans and ideas:
- Conventional Financing – including incentives for our deserving Veteran’s
- Purchase, Refinance and Cash-Out loans
- Construction and Re-Hab loan programs
- Jumbo loans and loans for Rental income properties
- Buy the “replacement home”, before selling your current residence
- Putting off Capital Gains taxes on owner Occupied and Investment properties
- Reverse Mortgages – or other such good options – to meet cash-flow challenges,
Key is knowing home finance is far more than a quick review of numbers. It is that first conversation reviewing your real concerns, while addressing questions and needs. From here, we work together to find what fits and best optimizes your dreams.
My suggestion: Plan Today, so you will be ready for your Tomorrow.
The straight forward loan is our bread and butter. Yet we love a good challenge. We love to hear “Yes”, when others say, “no way”. Give us a call. Our many referrals speak to the quality of our workmanship.
As always, thank you for your calls and referrals. We love your success.
We remain gratefully yours.