San Ramon Home Sales 2nd Qtr 2017

San Ramon home sales for the second quarter of 2017. These numbers are for single family detached homes:

  • 261 Units Sold
  • Average Sales Price $1,169,633
  • Median Sales Price $1,120,000
  • Highest Price $2,375,000
  • Lowest Price $619,000
  • Average Days on Market 18

Average sales price is down 1% over first quarter of 2017, yet more than double the units, 261 vs 121

Loving Home Ownership

Innovative Idea for a Swimming Pool

Want a pool yet either don’t have the money or your yard is too small. What about a using a shipping container to create your backyard fun. Sound silly, a couple came up with the idea called Modpools. Oh and if you move you can take the pool with you. Here is an excerpt from an article in RSI Media Housecalls.

“Paul and Denise Rathnam launched Modpools earlier this year and the idea has taken off, with orders mostly coming from the hottest locales in North America, particularly California, Nevada, Texas and Florida. It’s an interesting concept, for sure, and the design, once installed, looks pretty slick. It’s as if your backyard was always destined to house a shipping container.”

The standard size Modpool is eight feet wide by 20 feet long, and just over five feet deep. It also comes with a clear, acrylic window on one side, which is actually a pretty spiffy design element. Customers can opt to add another acrylic window on the other side for a see-through look if they want one.

Source:RSI Medias Housecalls; rsimedia.com

Don’t Let Your Biggest Asset End Up In Probate

A will is the most common way to transfer real property upon a person’s death, but this does not avoid probate. Probate can be expensive with attorney fees and court costs and can take up to a year to complete.  The way to keep all of your assets out of probate is to set up a trust. Yet for many whose estate consists primarily of the home, the money to establish a trust may be unaffordable.

Californians have an easy remedy to keep their home out of probate with the passage of Assembly Bill 139 which became effective in 2016, creates the Revocable Transfer on Death (TOD) Deed which would transfer to a named beneficiary 1 to 4 unit residential real properties on the death of its owner without a probate proceeding or a living trust.

The Revocable Transfer on Death deed is the most simple and inexpensive transfer mechanism on the market today. Furthermore, it may be the only tool available to unmarried homeowners who wish to leave their property to a lifelong partner, family member, friend, or loved one upon death. .

The deed has no effect until a person dies, and can be revoked at any time. The revocable TOD deed must be signed, dated and acknowledged before a notary public, and must be recorded at the County within 60 days after execution.

 

Refinance My Adjustable Mortgage Loan – Is It Too Late?

The federal reserve recently raised interest rates, and if you have an Adjustable Rate Mortgage (ARM), it may be a good time to consider refinancing your home. While you may think everyone has refinanced by now, that is not so. I met a lady this week while door knocking and she has two investment properties both with a first and second mortgage and all are adjustable mortgages.

There’s no one-size-fits-all answer to whether your should refinance, so here are a few of the main considerations.

How long does your introductory rate last?
Most ARMs have a fixed rate for the beginning of the mortgage. This is an introductory period (usually 3-10 years) when your rate will remain constant before it can be adjusted. If you have several years left in your introductory period, you can monitor interest rates for a while before making a decision. But if the intro rate is ending soon, it’s a great time to explore refinancing at a fixed rate.

How long are you staying?
If you plan to sell your home soon-especially if you’re still on a fixed introductory rate-there’s not much motivation to refinance. But if you’ll be at your home indefinitely, you should consider your refinancing options. You could eliminate the stress of not knowing what your future mortgage rate and payments will be.

What’s your loan balance?
The change in your mortgage payment will of course be determined in part by your remaining balance. If you owe $100,000-$200,000, a new interest rate may not greatly affect your monthly payment. On the other hand, if you owe $500,000, a change in interest rate could lead to a much higher payment.

Other factors
The previous items are just a few of the factors that should go into a decision about refinancing. Changes in income and your current credit score should also be considered, so be sure to weigh your options and make an educated decision.

 


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