by Jeff Pittman | Feb 13, 2017 | Buyers
The Best Places To Retire In Southern California and Beyond You have worked hard your entire life, saved up a bit of a nest egg, and now you are ready to enjoy it. That means retirement is coming, and along with that comes the important decision about where you would like to live out your golden years. There are so many options whether you’re relocating a few cities away or across the country. What’s important is to start getting an idea of what your ideal retirement community should include. Here’s a quick list of popular retirement spots within Southern California and across the country to give you a start. SOUTHERN CALIFORNIA Southern California real estate is expensive, but you can find great communities hidden within for a much smaller price tag. According to Trendgraphix, the average sold price for real estate in Orange, Los Angeles, Riverside and San Bernardino Counties is $615,000. First of all, these retirement communities clock in way below the average sale price for SoCal. Second of all, these communities specifically offer great senior living facilities, city amenities, and laid-back lifestyles ideal for retirement. PALM SPRINGS Palm Springs real estate is ideal for seniors because of the warm temperature and wide array of amenities. In fact, there are tons of desert communities within Riverside County that are ideal for second homes and retirees. The average sold price is for Palm Springs real estate is $393,264. Palm Springs has a bustling downtown nestled against the impressive Mt. San Jacinto, and is surrounded by well-established neighborhoods with a mix of eclectic architectural styles. The area is also home...
by Jeff Pittman | Jan 25, 2017 | Buyers
4 Things To Ask Before Buying A Home With A Pool When buying a new home, there are so many details to consider, questions to ask, and decisions to make. And if the home you have your eye on happens to have a pool, it leads to additional considerations. If you’ve always dreamed of summer barbecues that make a big splash and are shopping for a home with the pool, here are four questions to ask before buying. 1. DOES THE POOL ADD VALUE TO THE HOME? The answer to this question will be very specific to your region, with pools adding the most value in places like Southern California (score!) and western areas with warm weather. Whether a pool adds value also depends on its age and condition. Also keep in mind that if you’ve always wanted a pool, purchasing a home that already has one will typically cost less than installing your own later. 2. WHAT ARE THE INSURANCE COSTS? The increased cost on your homeowner’s insurance for a house with a pool can be substantial. You should opt for an umbrella liability policy covering between $300,000 and $1 million in liability insurance. Keep in mind that you’ll be liable for any accidents that result from the pool, substantiating the need for this costly coverage. 3. DOES THE POOL COMPLY WITH ALL REGULATIONS? Not only will a pool be uninsurable if it fails to comply with all valid state and local regulations, it will also be unsafe for you and your guests to enjoy. Make sure that you have all the details about the construction of the...
by Jeff Pittman | Dec 14, 2016 | Buyers
5 Hard Truths About Buying Real Estate Maybe you’ve bought a house in your day, so you feel like a real estate expert. But even some experienced buyers don’t know everything, though, which is why it’s always good to do your homework before buying or selling another piece of property. It’s time to get real and face the facts, here are five things you probably didn’t know about real estate. YOUR CREDIT SCORE IS VERY IMPORTANT Though a mortgage lender cares about how much you make and how long you have been in your job when considering whether to lend to you, the deciding factor may actually be your credit score. People with a high credit score, usually about 720 or higher, get the best interest rates on mortgages, which can save you tens of thousands of dollars in finance costs over the life of the loan. On the other hand, borrowers with low credit scores pay higher rates, and if your score is low enough — usually below 600 — a lender may not be willing to give you a loan at all, no matter how high your income is. YOUR PAYMENT WON’T NECESSARILY STAY THE SAME One of the things that many people tout about owning over renting is that your monthly house payment won’t go up. But this is not usually true. Only the principal and interest amount stay the same. For anyone who pays his or her taxes and insurance as part of their monthly mortgage payment, that portion of the payment will increase often. These days, homeowner’s insurance premiums go up annually, and...
by Jeff Pittman | Sep 20, 2016 | Buyers
Essential Steps To Your Next Home Finding the property that will become your future home is a business deal, but it is also a very personal occurrence. Though the whole process can quickly become overwhelming, there is no need to make it too complex. Whether you plan on building your own home through a new construction agency in Orange County or buying a high rise apartment in LA, these five essential steps will help to streamline the process. THINK ABOUT YOUR NEEDS The home that you buy will hopefully be a major part of your life for years, so it is important to pick one that can meet your changing needs. Think about your career, family, and relationship goals to ensure that your property will work even if your lifestyle changes. Make sure that when you are buying a home you are thinking about the long term. PREPARE YOUR FINANCING Your budget and mortgage options will help you to narrow down possible homes among all the real estate listings. Make sure that you have a good credit rating, and start talking to a lender or bank about loan terms. Once you know how you will pay for a house and how much money you can spend, it’s finally time to start house hunting. GET HELP FROM PROFESSIONALS Don’t make the mistake of trying to do everything yourself. Instead, try seeking help from engineers and inspectors such as those at Jeffrey Hills and Associates. Workers like this will have a lot of insight and insider information about how to build the home of your dreams. Inspectors can always help you...
by Jeff Pittman | Apr 7, 2016 | Buyers
6 Benefits Of Buying Rental Property If you’re thinking of purchasing rental property, you should know that there are some serious benefits to process. You’ll have to be smart about the tenants that you choose to avoid problems, but otherwise, it can be a wise investment. RENTAL INCOME Of course, the biggest advantage to rental property is the rental income itself every month. The rental income that is coming in each month can go towards the home loan with any extras going into your pocket. It might not be a huge amount in your pocket each month, but it’ll go a long way towards paying down the loan on the property. LOAN PAYMENT With a tenant paying down the loan on the property, you’re banking money for the future. With a house loan of $150,000, your tenant might be paying $10,000 of that each year. When the loan is paid, you have a home that you can sell, which puts that $150,000 into your pocket. It’s a great way to save for retirement. TAX ADVANTAGES Money you make for your rental property is subjected to less taxes than if you earned money as a self-employed individual. There are numerous benefits that impact the cash flow from the property as well as tax advantages for depreciation itself. DIVERSIFYING ASSETS When you are saving for the future, investing in rental property makes sense. It’s not an asset that could be liquidated easily, but properties will often increase in price throughout the years. You’ll be able to reap the benefits of that housing price hike later when you sell. BETTER OVERSIGHT Investing...
by Jeff Pittman | Mar 9, 2016 | Buyers
When Is The Best Time Of Year To Move? There are good and bad times to do everything. Any consumer knows that shopping is best done on certain dates and times. Many of the best sales come on the weekends, holidays and the starts of seasons. Likewise, when you plan a move, there are certain times of the year that may be more beneficial to the buyer or seller. These considerations can help you make the best choice for you and your family. SUMMER/SPRING If you need convenience more than affordability, choose to move during the summer or spring. You have more hours in the day to focus on packing carefully and making arrangements. Spring and summer is the time when many people decide to move. It’s a good time for both buyers and sellers. The weather and no school in session makes it easier for many families. WINTER While winter is not the ideal time to move, particularly if you live in cold and snowy weather, it can be a great time to buy. Some people that are selling during this time need to move quickly for jobs, and you can often find lower prices during the off season. If you aren’t constrained to kids in school or jobs, moving during the winter can save you money. SCHOOL CALENDAR The school district can play a big role when homes go on the market in that area. If you have kids in school, you may want to wait until summer break to move so they don’t have to transition to new teachers and curriculum in the middle of the...
