Window of Opportunity Has Opened
You may have heard that San Diego home loan rates improved, reaching some of the best levels so far in 2011. In fact, now is the best time in over a decade to take advantage of this wonderful situation. The San Diego real estate inventory levels are at a favorable level, making it easier to get into a home.
But there’s one important point you should understand…
The slowing in our economy is one of the main reasons rates have improved recently, but it’s important to note that the last time rates hit this level, they jumped significantly higher from here. What’s more, signs of inflation are beginning to creep into our economy, and that never bodes well for home loan rates. If you have thinking about buying San Diego real estate, now is a great time to jump in.
Getting preapproved for a San Diego home loan is easy and only takes a few minutes. Applying for a San Diego home loan doesn’t cost anything and is a good way to assess what you qualify for and if you are comfortable with the monthly payment. In may cases, people are pleasantly surprised at how affordable San Diego homes are in todays market. Being that it is still early in the year, there are still money available for San Diego first time home buyer programs which can help with down payment and/or closing costs, which can reduce out of pocket expenses significantly.
Contact Travis Breton to find out more about buying San Diego real estate or to get connected with a reputable San Diego home loans specialist.
A Little Guidance for Your Home Search
Whether you’re a first time buyer, buying up, or downsizing, buying a home in San Diego CA can seem a little stressful at times. Here are a few tips to help keep you on the right track to getting the right house with minimal stress.
Always research before you look, like you’re most likely doing right now. Decide what features you most want to have in your San Diego home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get pre-qualified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford or are not prepared to make an offer on.
Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.
Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of San Diego home you’ll buy as well as the type of mortgage terms that will best suit you.
Insist on a home inspection from a qualified professional. If possible, get a warranty from the seller to cover defects for one year.
Get help from a REALTOR®. Hire a San Diego real estate professional who specializes in buyer representation. Unlike the listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. As a buyer’s representative, I do not charge my home buyers any fees or commissions for my services. For more information about buying or selling San Diego real estate contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com
Small Projects Have Big Impact When Selling
It’s a buyer’s market, and even small things can set your San Diego house apart from the competition. The problem is, over time, homeowners no longer see small projects like fixing a hinge on a seldom-used cabinet door or cleaning scuff marks off the back door.
But in a home buyers eyes, those little projects put questions in their minds, not only, “how much will these repairs cost?” but also, “if the little things aren’t done, are there big things that haven’t been done as well?”
A clean and clutter-free San Diego home is a great start. But it’s important to take a more critical eye to your home before listing it for sale. If you can afford it, have a pre-listing home inspection to identify problems ahead of time. Fix the problems that you are able to, and be prepared to disclose and/or negotiate the ones you can’t fix up front. Here are five areas where a small fix can make a big impact on how a buyer sees your San Diego home.
Heating and cooling is a critical component to San Diego homes and one of the most costly repairs to make on a home. A heating and cooling system that appears to poorly maintained can raise concerns with potential San Diego home buyers. Be sure to replace the furnace filters to ensure optimal air flow to the HVAC system. Clean all the air vents and ceiling fan blades.
Electrical. Replace any burned out light bulbs in all fixtures inside and outside. Replace cracked or missing outlet covers and switch plate covers. These are simple, inexpensive items that improve the overall appearance of any home for sale in San Diego.
Walls and windows. Repair and touch up dings, scratches and holes in the walls, even small holes from picture hangers. Clean scuff marks off base boards, walls and doors. Clean the windows and vacuum the window tracks inside and outside to get rid of debris.
Flooring is an item that every San Diego home buyer immediately notices. Shampoo the carpet if it is still in good condition. Where possible, replace broken floor tiles or boards. If the carpet is looking worn or stained, get estimates to replace it so you will be armed with information if the buyer tries to negotiate a concession.
With all the recent news and health concerns about mold, it is important to have the plumbing in tip top condition. Fix any leaky faucets or pipes. Besides being clean, bathroom fixtures should function properly. Check the faucets for water flow and temperature. Make sure the toilets flush properly and don’t “run.”
Finally, if you started home improvement projects that you haven’t quite finished, finish it! Not only will it be one less thing on your to-do list, it could improve your chances of standing out to potential San Diego home buyers.
Looking to buy or sell San Diego real estate? Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com
What Not to Overlook on a Final Walk-through
It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through of your new San Diego home. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook on your final walk-through of your new San Diego home.
Make sure that:
Repairs you’ve requested have been made. Obtain copies of paid bills and warranties.
There are no major changes to the property since you last viewed it.
All items that were included in the sale price – draperies, lighting fixtures, etc. – are still there.
Screens and storm windows are in place or stored.
All appliances are operating, such as the dishwasher, washer and dryer, oven, etc.
Intercom, doorbell, and alarm are operational.
Hot water heater is working.
No plants or shrubs have been removed from the yard.
Heating and air conditioning system is working
Garage door opener and other remotes such as fan remotes or community gate remotes or keycards are available. Also make sure keys for gates and mailboxes have been left, even if you plan to rekey them.
Instruction books and warranties on appliances and fixtures are available.
All personal items of the sellers and all debris have been removed. Check the basement, attic, and every room, closet, and crawlspace.
Buying or selling a San Diego home? Contact Travis Breton at 760-470-2752 or visit http://sdhomesource.com
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