Friday, October 5, 2018 / by Joe Corbisiero
Inventory is extremely tight right now around San Diego and the good deals are going fast! I don’t think there is a scenario more dreaded for a buyer than when faced with a bidding war on a home. They can be stressful and discouraging if you don’t get the home you really wanted, but it’s part of the process.
Unfortunately, when there is a bidding war on a home, you have the potential of overpaying. The process can turn emotional and many times buyers will let their emotions get in the way of making a sound financial investment. I am writing this post today so you know what to do in case you find yourself in a bidding war.
Know The Market!
You will be able to negotiate and be more comfortable with your offer knowing the true value of the home. Getting educated on the market is the first thing you want to do! Have an idea of the range the value should be in and keep your offer within that range. When you have a good idea of the values, it makes it ...
Friday, September 21, 2018 / by Joe Corbisiero
Marketing Your Home
If you watch the news, listen to the Radio, or have access to the Internet, you’ve probably seen many advertisements and commercials promoting flat fee or discounting listing services. But the REAL question is….do they really save you money? So let’s take a look at the difference between a FULL SERVICE, and a FLAT Fee Brokerage!
The FIRST thing you’ve got to keep in mind, is that BOTH OPTIONS
have their merit. But they come at a cost!
When you list a home with a full service real estate broker, you expect them to list your home on the MLS (Multiple Listing Service) in your area, to market the home through traditional advertising and to be there to show the home to potential buyers.
On the other hand, a flat listing real estate agent may charge a flat fee ...
Wednesday, July 25, 2018 / by Joe Corbisiero
Will Your Current House Fit Your Needs in Retirement?
As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.
According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.1
“It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”
Would moving to a complex with homeowner association (HOA) fees actually be cheaper than having to h ...
Friday, June 1, 2018 / by Joe Corbisiero
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.
Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will i ...
Monday, May 14, 2018 / by Joe Corbisiero
The famous quote by Walt Whitman, “A man is not a whole and complete man, unless he owns a house and the ground it stands on,” can be used to describe homeownership in America today. The Census revealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year’s 63.6%.
Chief Economist, Dr. Ralph McLaughlin, in his VUE Blog gave these new homeownership numbers some context:
“The trend is clear: the homeownership rate has been ticking up for five consecutive quarters, and the number of new renter households has fallen for four consecutive quarters. Owner-occupied households grew by 1.345 million from a year ago, while the number of renters actually fell by 286,000 households.
The fact that we now have four consecutive quarters where owner households increased while renter households fel ...