Insider Secrets for San Francisco Bay Area First Time Buyers - A Must-Read for ALL Prospective Home Buyers Trulia published a very helpful blog post about the process of buying your first home. I devote a lot of blog-time to first time home buyers in San Francisco because helping you is a particular passion of mine. My impression is that the more information and insight you get up-front, the more you understand what to expect and when, the more enjoyable and successful your home purchase will … [Read more...]
Unless you're omniscient, the chances of you perfectly timing the market when you buy a home in San Francisco, are slim to none. But, if you try to be kind of, almost, or close-enough to perfect, you'll be able to buy when it's a smart time to buy real estate in San Francisco and sell when it's a smart time to sell. It's called buying in the zone. Right now (and for the past couple of years), we've been in that strategic zone for buying a home in San Francisco, whether a condo in Noe Valley, a … [Read more...]
A Brief History of the 30 Year Fixed Rate Mortgage, or If You Need Yet Another Reason to Buy a Home in SF
As if you needed another reason to get off your tush and buy a home in San Francisco... here's a brief history of the 30 year fixed rate mortgage or home loan. Average and approximate interest rates on the 30-year fixed rate home loan*: 1981 = 18.45% (Holy crap.) 1991 = 9% 2001 = 7% October 2010 = 3.875% (with 1 point) or 4.25% without October 2011 = ? Will interest rates be lower or higher next October? Check back next year and find out, but here's a sure bet: interest rates … [Read more...]
When it comes to buying a home, there is one word that becomes more important than almost all others: CREDIT. Unless you just cashed out your Google stock (and we're an early hire), you'll probably need to get a home loan in order to buy your first home in San Francisco. As a San Francisco first time home buyer, in order to get a mortgage with the lowest interest rate and the best terms, you'll need to have CREDIT, and good credit at that! Let's say you have good credit*. You've done the right … [Read more...]
This time, YOU are telling ME that it’s the right time to buy a home in San Francisco! The fun starts now.
Hmmm, maybe it really is the right time to be a first time buyer and buy a home in San Francisco, whether that's a starter condo in the Mission or 3 bedroom view condo in Pacific Heights. At least that's what I've been hearing straight from the horse's mouth, i.e. my first time home buyers in SF. Yeah, yeah, I know that I've been writing this for a while now. Point 1: Crazy low interest rates on safe mortgages like the 30 year fixed rate home loan. Point 2: Reduced home prices even in the … [Read more...]
Powerful Home Buying Strategies: Don’t Be Pushed Into Any House. OR How Many Homes Should I See Before Making an Offer?
Powerful Home Buying Strategies: Don't Be Pushed Into Any House. OR How Many Homes Should I See Before Making an Offer? A common question from home buyers is, "How many listings should I see before making an offer?" … [Read more...]
ABC, it’s as easy as 123. Why you really need to get off your iPad and buy a home in San Francisco – now.
Yes, I am a Realtor so I am biased. Duh. But, honestly, folks. If you have stable employment and some savings (minimal needed for a FHA home purchase), and you've been considering the idea of buying your own home in San Francisco or San Mateo County, now really is the time. Here's why. Last night during an initial consultation with intelligent, thoughtful first time buyers, I was told, "Listen, Danielle. This is the best time I've seen for a buyer in the San Francisco market in a REALLY long … [Read more...]
Real estate is complex but it's not rocket science. There are tried and true tips to the home buying and selling process. There are things that all San Francisco home buyers should know. When you work with an agent, she or he should be educating you on these issues from the beginning. For example, I sit down with potential clients for an initial consultation. It's a no-pressure meet & greet where we talk about the market, the buyer's plans, answer preliminary questions and see if we're a … [Read more...]
I've said it before and I'll say it again, "Get off your tushies and buy a home." RIGHT NOW is THE time for both first time home buyers and move-up buyers. Seize the day. Cheap money and cheaper homes will NOT last forever. Using FHA home loans, you can get purchase money up to $729,250 with LOW DOWN PAYMENT (3.5% down plus/minus) and even spotty credit. Yes, you have to document your income. These are SAFE government backed loans. Recently, my clients, a young engaged "techie" couple, … [Read more...]
My advice to folks considering buying or selling San Francisco real estate in today’s market: To the first time buyer: BUY BUY BUY (This is a “once in 10 to 15 years” kind of opportunity. TICs, Condos, Lofts and some single family homes are ON SALE. Rates remain historically low and loan options abound for those with low or high down payment.) Read more here. FHA loan info here. To the home owner of 1-3 years: HOLD* ** Stay put and enjoy your home. It will be a great … [Read more...]