Good morning to September and Fall 2018,
Real estate housing has a most interesting dynamic important for those seeking to financing.
Often there is confusion when marketing and media seek to compare “median home prices” – 1/2 of buyers are buying at or above the median price – with median household income. This is an unfortunate case of comparing apples to a pickup truck. If you have questions, please call.
Yes, it is very helpful to watch these numbers. They do give insight into the general trends of incomes and home prices. But again, be careful, as home prices can be quite sensitive to the specific location. Move just a few blocks and surprise, the numbers change. It is that specific. Therefore it’s not about ‘general market numbers’. Instead, it is about what the specific individuals can afford. My suggestion: Let’s talk today and gain insight to what is important – the client.
If the client can afford a 1500 square foot home in neighborhood “A”, you would not stamp your feet demanding a 2000 square foot house. This where facts and reality come together, and keeps our clients safe and secure in their buying. It is how we work within the specific needs, financial abilities, and the individual’s hopes and dreams. This is what we call planning and why we receive our many referrals. If this sounds good to you, let talk, we are ready to help. Call today.
6 months into tax-reform: Price trends for the price of home – whether high housing-cost areas or lower-cost – are showing no meaningful change in trends when compared with earlier years.
Locally, the numbers support continuing market appreciation. Hopefully a bit cooler than the last couple of years, and closer to historical trends. For San Jose MSA, the annual trend over 40 + years, has market appreciation of 6.3 %. Hard to believe, yet a key metric for my continual belief in buying and investing in local real estate. It is a proven, solid investment.
In regards to shorter term numbers, commercial buildings continue to mark leases and I don’t see much in the way of large numbers of ‘see-through’ offices, as we did the last couple of downturns. People being employed continues to grow, putting noteworthy pressure on many government services. Interest rates are about 3/4 % higher than this time last year, with wages a bit higher.
Recent Residential Success Stories
Are you aware a 1031 exchange of a former rental property, can be used in conjunction with buying a personal residence? Our latest success did just this. The new property is a multi-unit property, where we are able to utilize the exchange proceeds, because there is a rental component in the new property. It is good to be well-prepared and we love success. It is why we work hard to keep all parties on the same page, until the scheduled close of escrow – the Realtors, Exchange accommodator, Income tax preparer, Title companies, etc. As we approach year end, keep us in mind if you are seeking to exchange properties. Give us a call.
The good news: From now until Spring, I believe there will a healthy calm heading into next Spring. Plus with the end of the hocus-pocus of the election cycle, we might even see another tax break for the working family? We try to keep the hope of tomorrow, real.
Because You Matter
We work with individuals and professionals – like yourself – whose focus is on securing highly advantageous financing for their real estate properties and small businesses. Our initial ‘sit-down’ often proves “key” on the path to your next success story. This initial step – based on our experience and expertise – helps clarify the tools of our trade, best able to achieve the success you deserve. It is an effective use of time and efficient in defining the custom solution you seek.
Our distinctive difference: Our Company has been in business 16 years. Our focus concerns “Solutions”, for residential, commercial, small business, and construction financing. This includes reverse mortgages, tax-advantage financing, and more advantageous loans for small business and commercial loans. For Myself, the focus of my 28 years is bringing the joy of success to real estate financing. I love what I can bring my clients with my multi-disciplined experience. It is my passion.
Our approach and experience sets us apart and offers a solid reason to call today.
As you can tell, home finance is far more than a scant overview of rates and fees. What is needed is a financial specialist who wants to know you and your concerns – one who is able to address your needs. It is how we best optimize your desires, within the right loan.
My suggestion: Plan Today, so you will be ready for your Tomorrow.
One closing thought: Yes, the standard loan is our bread and butter. Yet we love a good challenge and are ready to help today. 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. Your success is our priority.