Getting a Home Mortgage – Here Are The Steps

The Mortgage Process: What You Need to Know [INFOGRAPHIC] | Keeping Current Matters

4 Common Real Estate Scams

4 Common Real Estate Scams That Smart People Fall For
Real estate scam No. 1: You transfer funds to a fraudster
You’ve done your shopping, you’ve made your offer; and it’s time to put your money where your mouth is. At least you think that’s what you’re doing, but when you respond to an emailed request to send money to this account or that person, it winds up someplace else—perhaps someplace far, far away.Buyers should always consult their agent when proceeding with any step in the transaction and verbally talk to the escrow company.Real estate scam No. 2: You’re renting a home that doesn’t exist
Wait, what? But you can see it online, and it’s spectacular. Nice neighborhood. Sorry; that house might indeed have those features, but it’s not actually available.Here’s how this racket works: The scammer “borrows” the address and photos from a vacant home listed for sale and creates a bogus home-for-rent ad online, explains Tom Hume of the Hume Group in Tacoma, WA.

When you ask to meet the supposed landlords, the answer is that they’re out of the country and can only communicate via email; sometimes, the scammers will use a phone call to draw you in. They ask you to send a deposit and rental payment to their overseas P.O. box, and tell you that the key is hidden on the property, or they’ll send you the code to the door once they have your funds.

Surprise! Never going to happen.

Outwit it: Before you fall in love with the home, make sure that you are speaking with the rightful owner of the property or an established property manager by conducting an online records search. You can start with a simple Google search of the property address or go to the county website. Many states also have searchable online databases, some of which track owners’ names, or you can use a free service like CourthouseDirect.com, which can provide relevant information for that property.

In a similar scenario, a bad actor could be renting out a foreclosed home, pocketing your rent money and forcing you to relocate when the bank comes calling. All foreclosure notices are filed with the county clerk’s office, so pay a visit to see if you can determine if the house is at any stage of the foreclosure process, suggests Paul Cones, president of CourthouseDirect.com.

If you’re local, make sure you drive by the house and do a little door knocking. Neighbors often know quite a bit about the house; and, bonus, if it’s for real, you’ve just met a potential neighbor! Above all, never ever send a cashier’s check overseas without doing your homework, Hume says. (And that’s good advice for any life situation.)

Real estate scam No. 3: The moving company holds your items hostage
You’ve found your ideal house, and you’re ready to go. But moving is such a hassle, and you just don’t have time to research moving companies. So, you retain the cheapest one that grabs your attention. Unfortunately, after driving off with your stuff, the movers decide that they’d like a little more cash for their trouble, and hold your belongings hostage until you pay way more than they originally quoted, explains Mike Glanz, the CEO of HireAHelper. It’s essentially ransom.

Outwit it: This scam is so prevalent that it’s listed on a U.S. Department of Transportation site called Protect Your Move. As you might imagine, the best prevention is to conduct due diligence to ensure that your mover is registered and insured, and that you have a written estimate. Your best bet is to have a representative from the moving company check out your stuff in person before drawing up the estimate.

Real estate scam No. 4: ‘I’ll sell your home or buy it myself’
This is a bait-and-switch gimmick that many less-than-scrupulous real estate agents use to get new clients.

This is simply a tactic to win appointments, says Ryan Hoffman, real estate broker at Leverage Real Estate in Albany, NY. He says that these programs come wrapped up in a bundle of stipulations that most homeowners would never agree to, such as a required asking price determined by the agent, pre-determined price drops every 30 days, a requirement to buy a new home through this agent, and possibly only from homes listed with their firm. The agent’s offer to buy the home if it doesn’t sell is typically well below market value.

“When home sellers realize they would never agree to these terms, the agent switches the tone to, ‘OK, fine, let’s just list the home the standard way,’” Hoffman says.

Outwit it: “If it sounds too good to be true…” Well, you know how that phrase ends. However, if you do fall prey to the sales shtick, and the terms don’t meet your approval, just don’t sign up this person as a listing agent. Got it?

Source:Cathie Ericson, Client Direct Article

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Buy A House Now or Wait..The Cost of Waiting

This chart is an illustration based  on current market conditions what the difference in costs to buy a home this year 2017 or wait till next year 2018.  This is based solely on what the future trend is expected.

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Selling Your Home – How To Get The Most $$$

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

 

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

A new study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

Source of article: KeepingMattersCurrent.com


San Ramon 3 Bedroom Home For Sale

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Home features open floor plan with large vaulted ceiling, bright, formal dining room and TV room (great room?) adjacent to kitchen featuring recessed lighting, new double oven, granite counter tops.

California living extends to the outdoors with newly remodeled back yard including lighting a retractable awning for warmer days, as well as office/storage/playroom with electrical. Side yard is set up for family fruit & vegetable garden with drip system. Additional features include: fresh paint inside and out, ceiling fans in all bedrooms and TV room, crown molding, dual pane windows, newer HVAC, custom storage cabinets in garage, durable laminate flooring, newer driveway and walkway in front, low maintenance yard, plantation shutters most rooms, great for entertaining.

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