5 Common Mortgages for Home Buyers

by | Jul 3, 2014 | Buyers

Financing your home purchase is the most important part of buying a home. The mortgage you decide on will influence your financial life for many years to come. Before looking into your mortgaging options, assess your finances. How much can you put down as a deposit? How much can you afford to pay monthly? Take into consideration job stability, taxes, insurance, and utilities. Work with your agent to make sure you are taking a realistic approach toward your finances. Once you know your budget, it’s time to decide on a mortgage that works with you. Below are 6 common mortgage plans for home buyers. 1. Fixed Rate Mortgage This mortgage is the most popular among home buyers because of its predictability. You have the option of 10-, 15-, 20-, or 30-year fixed rate mortgages, and sometimes even longer, with 30 years being the most common time frame. A fixed rate mortgage is ideal for home buyers with unchanging incomes. This mortgage can become frustrating when interest drop lower than the fixed rate but can feel very gratifying when they spike higher than the fixed rate. 2. Federal Housing Administration Loan Commonly known as an FHA loan, this mortgage option is ideal for first time home buyers because it only requires a 3.5% down payment. The loan is insured through mortgage insurance by the government and is therefore the application is more forgiving of past credit mistakes than other mortgage options. Most people will qualify for this loan. The only downside of the loan is that it is not very attractive to sellers because of the low down payment. 3....

Should You Buy Into A Homeowners Association? What You Need To Know About HOAs

by | Jun 27, 2014 | Buyers, Homeowners, Homes

According to Zillow, roughly 20-30% of all home buyers purchase properties within homeowners associations. That means if you’re looking to buy, you need to know the facts and decide whether or not owning a property in an HOA community is worth the price. What is a homeowners association? An HOA is an organization in a residential community that creates and enforces rules for all properties in the development. HOAs can be associated with condominiums, town houses or could be a single-family home community or private neighborhood. HOAs are very common among Irvine homes for sale and other communities in South Orange County. HOA rules can govern everything from parking restrictions and storage usage to architectural and design guidelines. HOA fees on average range from $200 – $400 a month. What do HOA dues pay for? The homeowners association collects monthly or annual dues which pay for community areas and amenities like parks, sport courts, swimming pools and street signs. Keep in mind that every homeowners association is different. Some are voluntary but most are mandatory and some are picky about what the members do with their properties while others are more laid back. Pros and Cons of HOAs Pros: The homeowners association pays for common areas like swimming pools, sport courts, parks and clubhouses. That means you get to enjoy a pool without having to clean it and keep an eye on chlorine levels and enjoy a semi private playground or garden without the hassle of maintenance. Some HOAs offer services like lawn maintenance to keep the neighborhood looking good 24/7. You don’t have to hire someone yourself and your...

Shade Tree is sold!

by | Jun 19, 2014 | Buyers, Homes

Just closed escrow on 53 Shade Tree in Irvine! We found our buyers the perfect home in Turtle Ridge. It has dual masters – perfect for out of town...

What Does It Mean To “Go Green” In Your Home?

by | Jun 18, 2014 | Buyers, Homeowners, Homes, Sellers

Choosing eco-friendly products, conserving energy and building for sustainability has been popular within the past several years but when it comes to your home, what does it really mean to “go green”? According to the latest NAHB Remodeler’s survey, these are the most popular green building features for 2014 (in order of popularity): Low-emissive (Low-E) Windows High-efficiency HVAC systems Smart thermostats Energy Star appliances Other green features that homes have these days, most predominantly newly constructed homes, include water conserving fixtures and high-performance insulation. Let’s break down each of these green features for your home to help you decide if a green remodel (or new home)  is right for you. 1.What are Low-E Windows? These windows are high performing and reduce energy loss by 30-50%. How you ask? They’re glazed with a microscopically thin metal layer which controls heat transfer through these insulated windows. Low-E windows are best at blocking heat transmission which means most importantly they keep your home cooler during the summer. This particular type of window is a low solar-gain low-E glass which is actually coated in several layers of silver (Werewolves and sweltering heat beware!). 2.How much do high-efficiency HVAC systems cost? High-efficiency HVAC systems cost anywhere from $2,000 to about $6,000 and they easily pay for themselves in utility expenses over the years. Upgrading your HVAC system can reduce your house’s energy consumption up to 40% and save you hundreds every year. It also increases the value of your home when it comes time to sell. Not only do these HVAC systems save you money over time, they also improve the quality of air you and your families breathe....

5 Home Improvements Home Buyers Actually Want

by | Apr 21, 2014 | Buyers, Sellers

When it’s time to put your house on the market home sellers are faced with a dilemma – renovate and increase your home’s value or sell as is. There can be a fine line between improvements and renovations that are necessary and add value and those that are wasting your time and money. We’ve compiled all the most important data from the NAHB (National Association of Home Builders) and CAR (California Association of Realtors) and come up with a top 5 list of home improvements that buyers are looking for while they’re shopping for homes and give you money back for your investment. Even if you’re not ready to move, these are improvements you can enjoy now and rest easy that future buyers will love as well. Kitchen updates 85% of home buyers want a walk-in kitchen pantry and according to CAR you can expect to recoup 60%-120% of your investment on a kitchen remodel as long as you keep it modest and to the point. Restructuring the lay out and adding a built in cappuccino maker won’t get you the returns you’re looking for but a new countertop and a great paint job should do the trick. A cost effective and stylish kitchen upgrade for faded, stained or worn out counter tops is laminate. For example granite styled laminate mirrors the look of granite but for a fraction of the cost. The laminate is also the perfect material for your kitchen because it’s scratch resistant. Changing the look of your countertops will give the whole room a facelift and it won’t cost you a fortune. Great Outdoors There are tons of reasons to give your backyard...