Some Key Terms to Know in the SoCal Homebuying Process

Some Key Terms to Know in the SoCal Homebuying Process: We believe every family should feel confident when buying and selling a home.Some HighlightsBuying a home can be intimidating if you’re not familiar with ......  BY CHRIS B JOHNSON REALTOR®

Real Estate Agent with Allison James Elite CA. BRE 01501699

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November 28, 2020 11:43 AM

 

REPORT

#TimeToBuy

We believe every family should feel confident when buying and selling a home.

 

Some Highlights

• Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
• To point you in the right direction, here’s a list of some of the most common language you’ll hear along the way.
• The best way to ensure your homebuying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher’ by putting your needs first.

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 Don’t Let Buyer Competition Keep You from Purchasing a HomeYour House May Be High on the Buyer Wish List This Holiday Season »

Winter Will Bring a Flurry of Activity to the Housing MarketWhy Working from Home May Spark Your Next Move »

 

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein. 

#TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal,

#ChrisBJohnsonREALTOR,#TopProducer, #709OrchardSt, #FlipandFix,#RealEstateInvestor,#RentalProperties, #BoomerageBuyers,#MultiGenerationalBuyers,#AJIBoom,#FindYourDreamHome,#PreApproval

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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  Chris B Johnson REALTOR®

  Moorpark, CA

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 Home Buying

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California Ventura County

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boomeragebuyers

 

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chrisbjohnsonrealtor

 

hyperlocal

 

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timetobuy

#TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal, 

#ChrisBJohnsonREALTOR,#TopProducer, #709OrchardSt, #FlipandFix,#RealEstateInvestor,#RentalProperties, #BoomerageBuyers,#MultiGenerationalBuyers,#AJIBoom,#FindYourDreamHome,#PreApproval

First Time Home Buyers, Is Buying a SoCal Home Today a

First Time Home Buyers, Is Buying a SoCal Home Today a: There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has also...... BY CHRIS B JOHNSON REALTOR®

Real Estate Agent with Allison James Elite CA. BRE 01501699

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November 25, 2020 11:33 AM

 

REPORT

#TimeToBuy

There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has also prompted more Americans to reconsider the meaning of “home.” This quest for a place better equipped to fulfill our needs, along with record-low mortgage rates, has skyrocketed the demand for home purchases.

This increase in demand, on top of the severe shortage of homes for sale, has also caused more bidding wars and thus has home prices appreciating rather dramatically. Some, therefore, have become cautious about buying a home right now.

The truth of the matter is, even though homes have appreciated by a whopping 6.7% over the last twelve months, the cost to buy a home has actually dropped. This is largely due to mortgage rates falling by a full percentage point.

Let’s take a look at the monthly mortgage payment on a $300,000 house one year ago, and then compare it with that same home today, after it has appreciated by 6.7% to $320,100:Compared to this time last year, you’ll actually save $87 dollars a month by purchasing that home today, which equates to over one thousand dollars a year.

But isn’t the economy still in a recession?

Yes, it is. That, however, may make it the perfect time to buy your first home or move up to a larger one. Tom Gil, a Harvard trained negotiator and real estate investor, recently explained:

“When volatile assets are facing recessions, hard assets, such as gold and real estate, thrive. Historically speaking, residential real estate has done better compared to other markets during and after recessions.”

That thought is substantiated by the fact that homeowners have 40 times the net worth of renters. Odeta Kushi, Deputy Chief Economist for First American Financial Corporation, recently said:

“Despite the risk of volatility in the housing market, numerous studies have demonstrated that homeownership leads to greater wealth accumulation when compared with renting. Renters don’t capture the wealth generated by house price appreciation, nor do they benefit from the equity gains generated by monthly mortgage payments, which become a form of forced savings for homeowners.”

Bottom Line

With home prices still increasing and mortgage rates perhaps poised to begin rising as well, buying your first home, or moving up to a home that better fits your current needs, likely makes a ton of sense.

 

« Don’t Let Buyer Competition Keep You from Purchasing a HomeYour House May Be High on the Buyer Wish List This Holiday Season »

 

 

« Winter Will Bring a Flurry of Activity to the Housing MarketWhy Working from Home May Spark Your Next Move »

 

 Blog Archive       

    

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein. 

#TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal,

#ChrisBJohnsonREALTOR,#TopProducer, #709OrchardSt, #FlipandFix,#RealEstateInvestor,#RentalProperties, #BoomerageBuyers,#MultiGenerationalBuyers,#AJIBoom,#FindYourDreamHome,#PreApproval

POSTED BY

LIKE 

21

• 

  Chris B Johnson REALTOR®

  Moorpark, CA

TOPIC:

 Home Buying

LOCATION:

 

California Ventura County

TAGS:

 

preapproval

 

findyourdreamhome

 

boomeragebuyers

 

realestateinvestor

 

flipandfix

 

topproducer

 

chrisbjohnsonrealtor

 

hyperlocal

 

5starrealtor

 

moveuphomebuyers

 

firsttimehomebuyers

 

timetobuy

#TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal, 

#ChrisBJohnsonREALTOR,#TopProducer, #709OrchardSt, #FlipandFix,#RealEstateInvestor,#RentalProperties, #BoomerageBuyers,#MultiGenerationalBuyers,#AJIBoom,#FindYourDreamHome,#PreApproval