4 Ways Buyers Can Prepare for Closing

When you have had your offer accepted and are on your way to the closing table, there are still a few things you need to take care of. Today I will highlight four ways to prepare for closing. 

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What happens at the closing table when you’re buying a house?

Today I will go over what to expect, as well as a few crucial do’s and don’ts to follow as you move through the process. Keeping all of this information in mind will be very important in making sure you get the keys to your new home with no problems. 

1. Schedule the closing. Most of the time, your agent will coordinate with all parties involved to schedule the closing for you. That said, it is still important to make sure this gets done. Also, make sure you take your time at the closing table. Don’t try to squeeze in the meeting over your lunch hour, because there will be a lot of critical documents to look over. I recommend taking a half-day to make sure you’ve got adequate time to review all papers carefully. 

2. Do a final walk-through. As a buyer, you have the right to go through the home within five days of closing and make sure that it’s still in an acceptable condition. You are entitled to take possession of the home in the exact state it was in when your offer on the property was accepted. 

Any changes to your debt-to-income ratio will pose a huge threat to the success of your home purchase.

3. Take all the documents with you to closing. If any issues arise, you will be able to provide any and all necessary paperwork needed to resolve those problems.

4. Keep in mind the things that could go wrong with your deal. There are a few pitfalls you may encounter. This includes things like the bank pulling out at the last minute or an unexpected lien showing up, but the greatest problem that could occur is actually within the buyer’s control. Any changes to your debt-to-income ratio will pose a huge threat to the success of your home purchase. This means that you need to make sure you put off any major purchases, especially those made on credit, until after closing.

There are many more things to keep in mind before proceeding to closing when buying or selling a home. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What 10 Terms Should All First-Time Homebuyers Know?

There are 10 important terms you need to know if you’re buying a house for the first time.  

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1. Fixed rate mortgage: This is a mortgage with a fixed rate during its term. If you have a 4.25% interest rate and a term of five, 10, 15, or 25 years, that means your rate won’t change unless you refinance.

2. Adjustable rate mortgage (ARM): This is the opposite of a fixed rate mortgage. With an ARM, you’ll have a shorter term (somewhere between five and 10 years), but once that term concludes, the rate will adjust based on the other interest rates the bank charge. This can get confusing, so I advise that you speak to a lender if you’d like more clarification.

3. Pre-qualified: This means you talk to a lender and give them all your paperwork (bank statements, tax documents, etc.) so they can verify whether you’re qualified to buy or not. If you make $10 an hour, you’re probably not qualified to buy a million-dollar home. If you make $1,000 an hour, you probably are.

4. Conventional loans: This is one of those loans that typically carries with it a 30-year mortgage or something similar. There are many loan products out there, so if you don’t have a high credit score, you generally won’t be able to qualify for a conventional loan—you need a minimum 650 FICO credit score so apply. The average down payment for a first-time homebuyer is only 5%, though, so there’s no need to worry.


5. FHA loan: This is a great loan for anyone who’s gone through some credit dings. The FHA stands for Federal Housing Administration. With this loan, you can put down a minimum of 3.5%. You will have to carry mortgage insurance, but you can take that off later down the road.

Know these terms before you buy a house.

6. Appraisal: An appraisal is when a third-party company analyses your property and compares it to other comparable properties within a certain radius. The home's condition, style of property, lot size, and a variety of other factors are taken into consideration. If you offer $250,000 for the home and the appraisal comes in at $300,000, either the purchase price must come down or you have to put another $50,000 into the deal to make it work.

7. Mortgage insurance: Mortgage insurance exists to protect the bank. If you don’t want mortgage insurance, you need to put at least 20% down. If you don’t put at least 20% down, you’ll get anywhere from 0.03% to 1.15% mortgage insurance tacked on to your rate. There are ways around this, though, and plenty of programs out there that don’t require you to use mortgage insurance.

8. Closing costs: What you pay in closing costs depends on you and what third-party vendors you may have brought in for expenses, such as multiple different home inspections. You can expect your closing costs to be between 2% and 5% of your purchase price.

9. Buying down your rate: If you have a certain credit score but you have a lot of cash, and you have a high interest rate because of that score, you can literally pay to buy a better interest rate.

10. Escrow: Escrow means you’re at the signing table signing away! An escrow account is a locked account which holds the buyer’s deposit so the seller can’t pull it out and the buyer can’t spend it. The way it’s kept safe is through non-conflicting instructions from both the buyer and the seller regarding releasing that cash, usually when the deal ends.

If you have any more questions about any of these terms or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.

Top 10 Home Buyer Questions Answered

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Buyers have many concerns about purchasing a home. Today, I thought I would quickly answer the 10 most common home buyer questions:

1. What is the first step in the home buying process? The first and most important step is to get pre-approved.

2. How long does it take to buy a house? That’s going to depend on an annoying thing called TRID (TILA-RESPA Integrated Disclosure), but it can take between 30 and 45 days. Your lender will have more details.

3. What does a Realtor actually do? We really do everything under the sun, from looking at homes each day to finding your perfect match to coordinating with the lender, the seller’s agent, and more.

4. How much do I have to pay a Realtor as a home buyer? Nothing. Zero. Zilch. Nada. When it comes to commissions, buying a home is free.

5. What is the best advice for first-time home buyers? Trust the professionals. This industry constantly changes. You need an agent who will be up to date on anything and everything that could affect your deal.

6. What kind of credit score do you need to buy a home? You need to have a score better than 580 at the very least. Anything at or over 620 is preferred.

7. Are there special home loan programs I should know about? Absolutely. We’ll get you in touch with a lender ASAP. I handle homes and let lenders handle the money.

8. How much do I need for a down payment? You need anything between 3.5% to 20% down, depending on your loan product and credit score.

9. What other fees are there besides the down payment? There are loan origination fees and closing costs.

10. When do I get the keys to my new house? At the closing table. Once you get the keys, the home is all yours.

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When buying a home, trust the professionals.

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That is just a quick overview. If you are interested in more details about the buying process, or if you have any other real estate questions, give me a call or send me an email. I would be happy to help you!  

Winning Strategies for Buying Bay Area Real Estate (Part II)

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As promised, here is the second portion of our jam-packed eight strategies for winning as a buyer in the competitive Bay Area real estate market. 

If you missed part one of our strategies, you can find them by clicking here.

Now let’s finish these eight proven strategies.

5. Have your lender call the listing agent. If you actually have your lender reach out to the listing agent, they can answer any questions the agent may have, and speak to your strength as a buyer. Not many people take this step, and it’s sure to make you stand out.

6. Be flexible with the closing date. Every deal is different. Maybe there’s a hangup with the bank or you’re having a tough time coming to an agreement with a request for repairs. There may be opportunities for you to add value to yourself by being flexible here.

7. Shorten your inspection timeframes. The standard contract timeframe is 21 days, but you may be able to bring that down to say, 15, 12, or even 10 days if you’re working with a qualified Realtor who can make it happen thanks to good relationships with inspectors.

8. Send a letter to the sellers. Humanize yourself! Instead of being just another number in a stack of offers, a letter lets you describe who you and your family are. Include a family picture as well; it’s always good to pull on the heartstrings. We’ve actually seen several instances of sellers accepting lower offers because they want a family to buy their home, not an investor!

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“Send a letter to the sellers. Humanize yourself!”

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Thanks for reading everyone, this has been fun! There’s always more tips and tricks I can provide for buyers and seller in the Bay Area, so don’t hesitate to get a hold of me over the phone or by email!

Eight Ways for Buyers to Win in the Bay Area

Buying a home? Click here to perform a full home search Selling a home? Click here for a Free Home Price Evaluation  Call us at (925) 838-4300 to answer any of your real estate questions

When looking for a home to buy, you want every advantage possible. When looking for a home to buy, you want every advantage possible. We've got eight proven strategies to share with you to land the home of your dreams in the Bay Area.

We all know it’s a tough market for buyers right now; the sellers are beating up on you with price, there’s a ton of buyers out there, and inventory is low. There has to be a way for you to outbid the other buyers in this competitive market and get the home you so desperately want.

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Now is not the time for low ball offers.

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Luckily for you, we’re putting together our eight strategies to land your dream home. There are so many good tips in here that we’re breaking this content up into two parts, so let’s start with one:

1. Get pre-approved. The seller isn’t going to take you seriously as a real buyer if they don’t think you can honestly afford the home. Talk to a lender and find that comfort zone for you and your finances.
2. Work with a qualified Realtor. Without one, you’ll flounder like a dead fish. A qualified Realtor makes the difference based on their knowledge and relationships with other agents in the marketplace. These things make or break you getting the home -- or not getting the home.
3. Don’t lowball the seller. Now is not the time for low ball offers, as it is a seller’s market. Coming in low with an offer will make losing it a sure thing. You have to make a decision: are you going to try to buy the house, or just go out and buy the dang thing?
4. Put a higher amount down in escrow. The higher amount down, the stronger you look financially. Most people put 20% down, and I like that. But if you put 30% or even 40% down, it does two things. It shows financial strength on your side as the buyer. Also, your appraisal isn’t going to be an issue if you have to go over the listing price. Because you put so much down, the bank won’t care if it doesn’t appraise out.

Curious about the next four valuable tips for buying in this environment? Have any questions at all about real estate in the Bay Area! Reach out to me via phone call or email! I’d love to help you with your real estate needs!

Fun in the Bay: Halloween Edition!

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Today, I'm here with Fun in the Bay: the Halloween edition! Whether you're looking for some family fun or a scary night out, we've got you covered. As usual, we'll start off with some great places for the whole family to enjoy.

1. Clancy's Pumpkin Patch is the only legitimate pumpkin patch in San Francisco proper, and it's located at 1620 7th Ave. You can go there and select from a variety of different pumpkins, depending on whether you want to use them for carving, cooking, or decorating. Take a horse-drawn hayride with the kids through a corn maze full of goblins and ghouls. This is a family friendly venue, and you can still get some squeals from the kiddos.
2. Potrero's Pet Parade is a lot of fun. This year actually marks the 24th annual Pet Parade. Gussy up those pups and cruise down 18th Street. If you impress the judges, you could get prizes and treats for your pet! If you don't have a pet, it's always fun to see what creative and wacky costumes people come up with for their animals.
3. Now, everyone in San Francisco has heard of the Winchester Mystery House, but not everyone has been there. I have, and it's true to its name. Going to the Mystery House is a bizarre experience to say the least. It's open to kids and families all the time, but if you have some older kids who don't mind a scare, check out the midnight tour. There have been several testimonials about ghostly encounters on the midnight tour.
4. Last but not least, check out the Halloween Hoopla. Go to the Yerba Buena Gardens for this great event MCed by Unique Derique, who will definitely bring life and character to the day. This event is best for kids under the age of ten. There will be clowns, costumes, arts and crafts, music -- the list goes on and on!

Now, onto some ideas for the grown-ups who don't mind a little scare:

1. The Freaker's Ball celebrates its 21st anniversary this year at The Factory. You can dance until the dawn comes!
2. The Ghost Ship Party is another awesome party that takes place on October 30 and 31st on Pier 70. This party is very unique; it's part art, part rave, part party! There are all kinds of entertainers! Find a crazy outfit and dance all night!
3. The Spooky Halloween Extravaganza is a very colorful event at the Star Theater. The theater is transformed into a Prohibition speakeasy. If you don't want the fun to stop, you can also go to the electro swing after party.
4. In my opinion, the creepiest one out there is Trapped in a Room with a Zombie. It might sound cheesy, but stop rolling your eyes! You are trapped in a room with an actor who plays a Zombie. You have 60 minutes to work with your team to escape the room. As time passes, the Zombie's chain gets looser. If you're looking for something creepy, this is the event for you!

Finally, here are some great ideas for date night:

1. If you want a classy evening, go to the Davies Symphony Hall for a showing of the 1920s silent film Dr. Jekyll and Mr. Hyde. A live orchestra will accompany the movie. This is the antidote to The Rocky Horror Picture Show. You should hear the vocals that roar through those halls. This is spine-tingling, lighthearted fun.
2. The San Francisco Ghost Walk is a fun, spooky evening. Go on up to the Pacific Heights neighborhood at 7:00pm. You'll walk the streets and hear stories about the ghosts that haunt these beautiful mansions. These ghost stories are based on real events, which could make this even creepier than your average haunted house!
3. Go see The Rocky Horror Picture Show. I know earlier we talked about the antidote to this movie, but it's a classic. There are 7:00 p.m. and 11:00 p.m. showings on Halloween, but if you can't make it on Halloween, there will be other showings leading up to the big day! Sing, dance, and enjoy this cult classic.
4. Finally, you can also take your significant other to the Arcane: Halloween Ballet. This is a one-act performance by the Company C Contemporary Ballet. There are performances on October 24th, 25th, 30th, and 31st. It's a bone-chilling and exhilarating event for everyone who loves dance. The choreographer, Charles Anderson, truly brings Halloween to life.

That's everything! I know I threw a lot of information at you today, and you may have a tough time deciding which event is right for you. I pretty much want to go to all of them! Click on the links in the article for more information, and if you have any questions, feel free to give me a call. Now, get out there and have some fun!

What Do You Need to Know as a Buyer?

Buying a home? Click here to perform a full home search Selling a home? Click here for a Free Home Price  Evaluation  Call us at (925) 838-4300 to answer any of your real estate questions
Hey everyone, today I want to talk to you about some things that you should know as a buyer and some things you should pay attention to when it comes to working with a real estate agent. I've got 4 simple tips for you to follow to make sure your transaction goes as smoothly as possible. Here they are:

1. Get pre-approved
The worst thing you can do is go out and look at homes that you may or may not be able to afford. If this happens, everybody is going to get upset, especially if you fall in love with a home you don't even qualify for. Get pre-qualified before you start looking, so you know exactly what you can afford.

2. You can't see every home in person
Although it is tempting to do your due diligence and see every home available on the market, what you really need to hone in on are the ones you actually want to see in person. Narrow down your options by looking online. 

3. Don't visit a home multiple times
Your buyer's agent needs to keep things moving forward and start the negotiating process for you on the home you are going to buy. Their job is to get you the lowest price, and they can't do that if they don't know which property you are going to make an offer on. 

4. Odd showing hours
Sellers have a life too. Let's try to keep showings on a business schedule, at least on the weekends. Unless the house is unoccupied, of course.

Those are just a few of the things you can do to help your buyer agent assist you better in your home search. If you have any questions for us, feel free to give us a call or send us an email. We look forward to speaking with you!

Have You Checked Out San Ramon Yet?

Looking to buy or sell a home in the Bay Area? Click here to perform a full home search, or if you're thinking of selling your home, click here for a Free Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (925) 838-4300 to answer any of your real estate questions.
Hey guys, today I want to talk to you about a great city called San Ramon. San Ramon is located a little bit south of Danville, and is more of a bedroom community. If you're a homebody and like a little less hustle and bustle, this is a great area. San Ramon is closer to Silicon Valley than Danville, and is an amazing town.

There are 2 different sides of San Ramon. The west side is the older, original single-family development that has been there since the 70's. The homes here are a little on the smaller side, but are priced great. In the middle of the city, ground has been broken on a City Hall, right next to the beautiful Central Park. On the other side of the park we have the east side, where great new developments like Windemere and Gale Ranch have opened up. 

Right now, there are a ton of people moving to this area from the San Jose and Hayward areas because of the great homes and even better schools. 

If you want to know more reasons why San Ramon is such a great place to live, please give me a call or send me a quick email. I'd love to talk to you about this area and show you all that it has to offer. 

What Area of Walnut Creek is Best?

Looking to buy or sell a home in the Bay Area? Click here to perform a full home search, or if you're thinking of selling your home, click here for a Free Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (925) 838-4300 to answer any of your real estate questions.

Today we want to talk about one of the best cities in the bay area. Walnut Creek is a place that everybody loves, and a place that I personally live in. It is one of those areas that has been redeveloped, redesigned, and home values are going through the roof. A lot of people come to this city for the great food, great shopping, and beautiful weather. 

Walnut Creek values are very intriguing once you start tracking them. There are 4 different zip codes in Walnut Creek, I'll go through each of them to tell you a little bit about the different areas and the advantages that each of them offer. 

Let's start off in the 94956 zip code, Ygnacio Valley. This area has the best appreciation of any area in Walnut Creek. 

In the 94595 zip code, Saranap, you will find an older population, mostly due to the presence of the Rossmoor Retirement Community. There are a lot of cozy, ranch homes in this area and home prices have been jumping quickly. There are a lot of good schools in this area as well. 

The 94957 is an area where I used to live. It's famous for both its schools and great family neighborhoods.

Finally, we have the 94958 zip code, also called Northgate due to its proximity to the Northern entrance of Mount Diablo. This is a unique area, with a lot of different styles of homes and beautiful views. The only problem people have with this area is the commute, as it is significantly longer than if you were living inside the city. 

No matter where you buy in Walnut Creek, it's going to be a fabulous investment. There is so much good information about this area, I can't say enough. I'd love to talk to you more about this area if you get a chance. Just give me a call or send me a quick email and I will get right back to you!

Where in Alamo Should You Put Your Money?

Looking to buy or sell a home in the Bay Area? Click here to perform a full home search, or if you're thinking of selling your home, click here for a Free Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (925) 838-4300 to answer any of your real estate questions.
Today we're going talk about the Alamo, California market and the hottest places to put your money in that area. This is a marketplace we truly know like the back of our hands - we have door knocked every single home in Alamo more than once. Since Alamo is such a beautiful community and an ideal location to remodel a home, it's a desirable place to live for many folks in the Danville area. Today, we want to highlight some of the best spots to spend your money in Alamo.

• Westside Alamo: There are three different spots in Westside Alamo you should know about if you want to get a return on your cash. From Freeway to Danville Blvd you can get a lot of value, but it's incremental. The next section is from Danville Blvd to the Trail. Finally, True Westside can be found from the Trail to the Top of the Hill - this is the place you want to spend your cash in the area, especially if you want to invest in remodeling. 
• Eastside Alamo: If you want more space than what the Westside has to offer, this is the place to go. This is a beautiful part of town, but the homes are going to be a little bit difficult. Do you have horses? The Oak Neighborhoods have lots with an acre of land and a zone for up to two horses. If you're interested in joining a country club, there's the Round Hill Country Club. If you want a home with a view, Round Hill North is the place to be.

This post doesn't even scratch the surface of the many different options in this area.There's a little something for everybody in Alamo and we would love to show it to you in person. Give us a call or shoot us an email and we'll set up a time to take a look at the many great homes in town or simply discuss your options.  

Where Should You Spend in Danville to Get the Best Return?

Looking to buy or sell a home in the Bay Area? Click here to perform a full home search, or if you're thinking of selling your home, click here for a Free Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (925) 838-4300 to answer any of your real estate questions.
Danville is an incredibly diverse area with a lot of housing options. Here's a quick rundown of what you can find here:

• West Side Danville: Here you'll find older ranch homes on 1/3 to 1/2 acre lots. Further up the hills there are some nice lots that are 2-5 acres. These are more established neighborhoods, where the true value is at.
• East Side Danville: If the West Side is out of your price range, there are a lot of great areas to the east. Sycamore and Greenbrook are fantastic, established neighborhoods. The price points in these areas are always shifting, but are generally in the $800,000 to $900,000 price range.
• New Construction: Out a ways around the Black Hawk area there are some great neighborhoods with smaller lots. If you want more space, this is a great place to build a two story home. If you want a smaller yard, so you have less to take care of, this might be the place for you.

We could talk about Danville area neighborhoods all day - this is only a snapshot of some great areas. If you want more details, we would be happy to chat with you about the many nuances in our area. Give us a call or shoot us an email at any time and we'll get back to you promptly. We truly look forward to serving you!