California Real Estate Investments
Have you dreamed of living or owning a property in the state of California? California real estate investments are one of the most talks about topic in real estate business. Some people say that it is not a good idea to invest right now, while others say it is the perfect time to invest. Let us know the truth.
California is a state located at the west side of the United States which is one of the most populous states in the USA. It has several famous cities like Los Angeles, San Francisco, San Diego, Sacramento, and many more that attracts people to migrate in the place and engage in real estate investments. Having so many people living in the area makes it very attractive to businessmen. The climate of California is the main attraction of the state because it offers moderate temperature in any season. The winter is not too cold and the summer is not too warm. Because of this, different races all over the world flock to this city.
Investments in real estate have been popular nowadays because properties have depreciated drastically after the financial crisis that hit the world in the past years. Buying properties today can double your investment because you will be able to get it at a very low price and sell it at a high price since the economy has just rebounded from the economic slump. In fact, based on numbers, the economy is already growing steady and property prices are moving up consistently. Investments in real estate can be houses, lots, apartments, office and business spaces, and mobile home parks.
So this answers our question; yes, it is the best time to engage in California real estate investments. To choose for the best place where are you going to invest your money in California, follow these tips. Choose the right location before you purchase. It is the most important thing when buying a property. Location can produce income or make your money stagnant for years. Also, if you are planning to settle in California, location is very important for your work place and the kids schooling. Next, look for the available financing available. Financial leverage is really important in property investment because not everyone has the money to pay the price in full. Also, try to know if there are additional expenses that you will incur if you buy a real estate. These expenses can affect your budget in buying and the income you will earn when you plan to sell it. Lastly, look for unique features of the place that can make your real estate investments appreciate more. Such features can be national highways, tourist destinations, or city facilities.
California real estate investments are probably one of the best decisions you will ever make in your life. Buying a real estate in California is very promising. It is for people who are looking for investments to multiply their money and for those people who are just looking for a place to settle.Read More
Factors to consider when looking for a San Diego real estate
Apart from New York, who wouldn’t want to stay in a city like San Diego? It was ranked fifth in the best place to live in the United States at the year 2006. Located beside the Pacific Ocean, this city boasts its coastal paradises and beaches. Also, this city was listed as the 33rd richest country in the world. Because of this, facilities are up to date with the current trend of technology. It’s also rich in culture since it has a Spanish influence in its history. With this information about San Diego, wouldn’t you wish to make your vacation a lifetime stay? If you do, San Diego real estates are available for you to finalize your permanent stay in this haven.
Since this city’s economic state is performing well, expect that San Diego real estates would be priced high. However, the cost of real estates in this city still depends on the composition of the house. A real estate with only 2 bedrooms, a kitchen, 2 bathrooms, and a garage would cost less than a house with more rooms. For a house with 2 bedrooms and 2 bathrooms, the average price set for these is $200,000. This would be enough for a family whose purpose to stay in San Diego is just to enjoy the city. For those who have the feel for luxury homes in San Diego, there are homes set at about $1,000,000 and above.
Another factor that affects the cost of San Diego real estates is the location. Real estates found closer to the coast have higher costs than those on the inland part. Since the coastal part of the country is the most commercialized area, expect that the houses here are much more expensive. A house with two bedrooms and three bathrooms already costs $3.4M. If you are persistent enough, you can find a home with six bedrooms and ten bathrooms but costs lower than the one with fewer rooms.
Since San Diego has a positive image to the public, San Diego real estates mostly costs higher than those of Californian cities. As a rule in the supply and demand in economics, the higher the demand, the higher the cost. Because of the high demand of real estates in San Diego, the land availability decreases. This also gives real estate corporations to increase the price of the units they’re selling.
If you really wish to stay permanently in San Diego and are looking for a real estate that would fit your budget, consider the land area also. Of course, a smaller lot would cost less. For a 999 square meter lot, you would have to cash out $189,000.
In hunting for cheap San Diego real estates, consider not only the square footage but also the condition of the house. Check if the house is in good condition. There may be houses set at a low price but the repairs to be done would cost you more, think twice about closing the deal with the real estate agent.Read More
How to buy and sell in balanced market
Since long we have been noticing the Real Estate Market to be either Buyers Market or Sellers Market. Buyer’s market is the market where there are more sellers as compared to the buyers, so the buyers have more options and can shop around before they find the best one suited. Seller’s market happens if there are lesser homes available for sale and more buyers. This is for the first time that we will see a balanced market, so neither buyers nor sellers are favored. Here are some useful home buying tips for those who are either buying or selling their old home in the Balanced Market
There are instances when people who are planning to sell their home are in a position to purchase a new one even before they sell this one. It is considered a tricky move as you may find a perfect home before you sell the current one especially if there are no savings to fall back on. Homes may take a bit longer to sell, so it is also important to stay open to the selling price. Better option is not to buy a new home at least before selling the current one.
Another option may be when you sell and buy at same time, but it may also be a risky move so you need to be very careful. A good tactic would be to sell your current home first and then take time to decide and don’t rush through the selection process. Other available option is to sell current home, but allow some time to close on it so that you get appropriate time to find something for yourself. Selling first makes more sense and is the safest route to take.Read More
Dealing with Lender letters when buying new home
When people move out searching for a home to buy of whatever type (house, condo, townhouse, apartment, condo or mansion on a hill), they must go through some of home buying tips. They must have a lender letter with them that approves of heir loan. There are many people who are not in business of real estate don’t understand that how value of lender letter varies to a great extent.
I will give few examples of this: which sort of property you would like and how to put forward that to the seller so that you are put in the best feasible situation to purchase that property. Again, if in case you are dealing through a broker, he must guide you through these matters. But if you are doing it all by yourself, and in case you are considering FSBOs (i.e. For Sale by Owner properties) then the knowledge given here must be helpful.
Lender letters generally are of two types –
- Pre-qualification letters
- Pre-approval letters.
The bold print may say it is one thing but if you read the letter carefully, it proves to be of the other type, so you need to concentrate. A pre- approval letter is quite stronger than a pre-qualification letter.
The weakest example you may see in pre-qualification letter would basically say “If all the information given by the borrower is accurate, he/she stands eligible and may borrow $XXXX.” So what you really have is nothing but the buyer’s word that has been paraphrased by the lender. Unluckily in real estate we all believe that “buyers are liars”.
It says “I have checked the credit reports of this person, all mandatory substantiating material related to income and assets has been seen and thus my company commits to make a loan but it is subjected to getting a copy of the contract.”
This letter is more powerful and sellers would be happy when they see you. So make sure you get a pre-approval letter that would also save you lot of aggravation.Read More
How to choose professionals for home staging
First impression makes a direct impact on real estate transaction. In most cases home buyer do not spend more than 3-4 minutes to look into the house and buying decision process happens in the first 30 seconds. For this reason you are always advised to take help from professional home stager to impress potential buyers. It could be a challenging task to hire the professional, if you have not dealt with one before. Here are the tips to follow, when hiring Home Stager:
- Do not look for the accreditation. You might see professional Home Stager displaying accreditation but keep in mind that there is no independent institution to grant certification and it can be bought by joining any course.
- Have a look on the track record by asking references of their earlier projects
- Research to know if Home Stager is recognized as an expert in the field. You can check it through TV/Print/Events/Online media
- Understand the difference between decorator and Home Stager. While a home decorator works from your prospective, Home Staging is all about understanding it from buyer’s perspective.
- Do not hesitate to take help from friends and family who has previously sold their home through Home Stager.
- Make sure your Home Stager is very well organized, always keeps calm and understand your need carefully.
- You should not try to save money by choosing low priced Home Stager. Keep in mind that this is not expenditure; instead it’s an investment which is going to multiply your return. You might save few hundred dollars only to lose tens of thousands of dollars you might have gained if your house was staged effectively from the outset.