As a home buyer in Sacramento, you can get a feel for whether a home’s systems and appliances are in working order. However, you won’t know for certain until after the home’s been inspected.
This is why real estate agents recommend that buyers hire a licensed home inspectors immediately after going into contract. It’s the best way to really know the home which you’re buying. Continue reading
Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in Sacramento and across the country.
We may see a reversal of this trend in the short-term because the stock market remains overbought and ready to retrace, the obvious question is when? With little economic news this week, there is no reason the stock market should improve or interest rates should change much. Until the stock market retreats, U.S. interest rates are not likely to decline much. Continue reading
2012 Tax Breaks!
There was plenty of discussion and debate leading up to the New Year’s looming “fiscal cliff”. Ultimately, the event was avoided (for now), but not before legislation was passed which may benefit homeowners in Sacramento and nationwide.
If you have yet to file your 2012 taxes, take a minute to review the tax limitations and credit extensions, which Congress passed through the HR 8 legislation. You’ll want to make sure you’re paying the proper tax bill come April 15. Continue reading
At the opening this morning, we are experiencing our 3rd day in-a-row of rising rates. What’s up with that? Thankfully, at the moment, they are clawing their way back. Last week, Mortgage rates rose as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed.
A strengthening economy = Mortgage Rates will go up! Continue reading
We are experiencing somewhat of a seller’s market in Sacramento, and a changing climate, as value’s are starting to rise across the country. With this added demand, comes multiple offers which can drive up the purchase price of a home – sometimes artificially. We know that too many buyers are chasing too few sellers, and reaching a sales agreement can be just the start of the negotiation process. One particular negotiation point which can present difficulties for both buyers and sellers is when a home’s appraised value falls short of its contracted sales price.
Sometimes, this happens because the home’s price was inflated. Other times, it’s the result of a faulty appraisal. Or, everyone knows the home won’t appraise, but the market is heating up and the seller feels they deserve what “the market will bear”, and don’t care what the appraisal says. Continue reading