Interest Rates as of May 20, 2016

The rates below are based on no points with a loan amount of $1,500,000, a purchase price of $2,000,000 and excellent credit history. … [Read more...]

Prop 60 & 90 Explained

If you are over the age of 55, you may be eligible for property tax relief under California prop 60 & 90, which allow age-eligible homeowners to transfer their property tax base when they sell their principle residence and purchase or construct a new home of equal or lesser value.  The idea behind these propositions is to incentive homeowners who are over 55 and live in a participating county, to downsize or move to a home of equal or lesser … [Read more...]

Gifted Down Payment Money: Yay or Nay?

Home buyers trying to scrape together enough money to cover the typical 20% down payment on a house frequently look to their parents and relatives for help. This is especially true with first time home buyers who, understandably, might not have had time to save all the cash necessary to put that 20% down, particularly in the Silicon Valley. When I bought my first home some thirty years ago, I borrowed money  for the down payment from my dad … [Read more...]

Anatomy of a Written Offer

Once a buyer has found a home they want to buy, it's time to make a written offer. The buyer's  agent will take care of most of the work here and advise the buyers on certain terms, limits and approaches for the offer.  According to Freddie Mac, there are a number of factors that go into a written offer that the home buyer should be aware of before they start the process of actually writing an offer. PURCHASE PRICE The purchase price is the … [Read more...]

First Time Home Buyer Mistakes to Avoid

Buying your first home can be a complicated, time-consuming, and often emotional experience and most first time home buyers wind up making mistakes they wish they could take back. US News recently made a list of some of the most common first time home buyer mistakes made before and during home buying process. Take a peek at the list below; knowing what mistakes other people make - and how you can avoid them - will help eliminate headaches, … [Read more...]

Preparing to Buy a Home

Here's a little something you might not know, buying a home doesn't start when you hit your first open house. Before you even start the home buying process, you should be preparing to buy.   Why?  Well, buying a home is one of the biggest decisions of your life and can often be stressful and overwhelming. The home buying process is complex and when you first make the decision that you’re ready to buy, you might not even know where to begin.  So … [Read more...]

Tip For Buyers: Know What is Included in the Purchase Price

There is nothing like walking into an open house and seeing gorgeous crystal chandeliers, top-of-the-line appliances and updated, energy-efficient fixtures. For buyers who are on the fence about the purchase, these small features may be enough to steer them toward buying a home. However, be aware, one of the most common misunderstandings when viewing a home is what you see is not always what you get. As a buyer, you want to know exactly what is … [Read more...]