If you are house hunting or own a home, you’ve probably heard about jumbo loans and conforming loans. So what is the difference between a jumbo loan and a conforming loan? Conforming Loans Meet Fannie and Freddie’s Guidelines A conforming loan is a mortgage that meets the underwriting guidelines (credit, income, assets requirements) of Fannie Mae and Freddie […]
Even though all-cash buyers are becoming more scarce, cash sales still make up a significant piece of the market. Cash buyers – those who don’t need any financing – bought one out of three Californian homes in the first quarter of 2014. If you are like me, you don’t have that much cash at your disposal. So […]
We all intuitively know owning a home tends to increase one’s net worth. A recent Federal Reserve Survey of Consumer Finances quantified the wealth gap between homeowners and renters. If you currently rent , you may what to sit down. In 2013, the net worth of the typical U.S. homeowner was 36 times that of the […]
In residential real estate, the best number to track to understand the current market conditions is months of inventory. Months of inventory is the number of months until all of the homes currently listed for sale are sold per the current rate of sales. For example, if a particular area has 90 active listings on the market and 30 pending […]
Sitegeist is a mobile app that helps users access data about their surroundings in seconds. The app draws from publicly available information and presents it to you in a clean, graphically pleasing format. Find Localized Information in Seconds As a real estate agent, I am always looking for tools to help my clients during the […]
A Nielsen Scarborough USA+ study found that during the past year, new homeowners spent $18 billion on home improvement projects. There is a trend of home improvement projects for new homeowners and the graphic below shows the most popular.
Once a buyer and seller of California residential real estate agree to the terms of an offer, the escrow period begins. The first thing the buyer’s real estate agent should do after an offer is accepted is schedule a home inspection. The home inspection is an out-of-pocket expense for the buyer and part of his/her due diligence. […]
A National Association of REALTORS® survey named the “2013 Profile of Home Buyers and Sellers” provided some interesting insight to the characteristics of home buyers and the type of home they purchased. Savvy home sellers can read this data to do what they can to make their home more appealing to buyers. While the savvy home […]