First time Home Buyers do's and don'ts

First Time Home Buyers Do’s And Don’ts

For first time home buyers, buying a home is one of the most significant investments they will ever make. In spite of the doubt and confusion clouding both the financial markets and news headlines this is still one of the best times in the last 40 years to buy a home and there are many great opportunities out there especially for first time home buyers. Home prices are more affordable than ever before and interest rates are the best we have seen in many, many years.

However first time home buyers are understandably anxious when it comes to making one of the largest investments of their lifetime.

Here is a simple list to help make the process a little easier for first time home buyers dreaming of home ownership.

First Time Home Buyers Do’s:

First time home buyers do need to take time to explore mortgage pre-approval. Getting a head start on this will help others involved with your purchase understand that you are serious about homeownership.

First time home buyers do need to make a decision on who you will be working with on your transaction, choosing a team of experienced professionals will be very important in making the home buying process simple and straight forward. Begin with a choice for your Real Estate Agent who will be able to connect first time home buyers with suitable mortgage lenders, home inspectors, lawyers and others who play a role in the home buying process.

First time home buyers do need to anticipate your future needs and buy for your personal lifestyle. What may make a perfect starter home might not work as well when children come along for first time home buyers. Remember, people move for lifestyle reasons and your first home will more than likely not be your last.

First Time Home Buyers Don’ts:

First time home buyers don’t buy more than you can afford. Make sure that your down payment, closing costs, monthly expenses and taxes are within your budget before you sign on the dotted line.

First time home buyers don’t try to time the market. Instead of waiting for an unreliable window of time and potentially missing out on the perfect home – first time home buyers should focus on their own lifestyles and buy when the time is truly right for them.

First time home buyers don’t jump into an unusual or confusing mortgage. When it comes to down payments and mortgages, if it sounds too good to be true, it probably is. Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain. Don’t be afraid to ask questions as first time home buyers.

Don’t underestimate the value of a trustworthy real estate agent’s expertise. While being savvy first time home buyers will help you on the road to ownership, a local expert with years of negotiating experience is invaluable when it comes to helping you find the perfect home – and closing the deal.

CALL PAM AND JOANNA FOR MORE INFORMATION ON HOMES IN NORTH SAN DIEGO COUNTY:

PAM 760-580-1615 JOANNA 760-580-1630

Content by Courtesy of RisMedia

 There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

1.) Update your old garage door(s). Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the drive way. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have taken a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore.

2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time consuming and costly headache. First time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing pre-listing you an actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair.

3.) Assess your floors . If you have hardwood flooring, it’s worth the investment to have them refinished considering buyers put an extremely high value on them; you’ll get the most bang for your buck if they are refurbished. Carpets should be shampooed and replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparables.

4.) Paint the trim. If you can’t afford the daunting task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming, and delayed by weather conditions; painting just the trim will give your home a fresher look. Interior trim is equally as important.

5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simple replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by just searching for terms like sale faucets, sale plumbing fixtures etc.

CALL US IF YOU ARE THINKING OF LISTING YOUR HOME, WE CAN HELP YOU!

PAM PARTON  760-580-1615            JOANNA WOOLLEY 760-580-1630

CONTENT BY COURTESY OF RISMEDIA

The end of January’s Fed announcement was very favorable for mortgage rates. This week’s mixed economic data, Treasury auctions, and news from Europe had little influence. As a result, mortgage rates ended the week lower.

The forecasts from Fed officials for the fed funds rate contained some major surprises for investors. Fed officials now expect that economic conditions will allow the fed funds rate to remain at exceptionally low levels until at least “late 2014″.Prior statements extended the expected time frame only to mid-2013. In addition, comments from Fed Chief Bernanke suggested that Fed officials would like to see stronger economic growth, and they are open to the possibility of additional Fed easing. Many investors think it is likely that the Fed will announce additional MBS purchases at a later meeting. The expectation for a low fed funds rate and the possibility of additional Fed purchases of mortgage-backed securities (MBS) increased demand for MBS, which resulted in higher MBS prices and lower mortgage rates.

The most recent release of Gross Domestic Product (GDP) showed an increase at a 2.8% annual rate during the fourth quarter of 2011, which was a little below the consensus forecast, but up from 1.8% during the third quarter. Early estimates for the first quarter of this year are for a slower growth rate. The long-run average growth rate for the economy is generally considered to be around 3.0%, and the economy usually grows at a faster than average rate following a recession. Given that the economy is growing below its potential and that inflation remains tame, the Fed’s expectation that monetary policy will remain very stimulative for a long time is understandable.

CALL PAM PARTON 760-580-1615     OR                     JOANNA WOOLLEY 760-580-1630

We would love  to help you with your home sale or purchase in North County San Diego, give us  a call at any time so we can help you get the process started!

Content Courtesy of John Yeager, Summit Mortagage

Why Real Estate is still AMERICA’S BEST INVESTMENT

The latest headlines tell us the economy fluctuates from recovery to ruin on a weekly basis. In reality, real estate is cyclical, and the market is on its way to recovery in most areas. Although you may feel nervous about home ownership, property is still your best long – term investment.

In more than two thirds of the country, housing affordability has dipped to pre-housing bubble levels, creating opportunities for those looking for a bargain. Home prices are expected to rise in 2013 due to fewer distressed sales and the impending housing shortage.

Mortgage rates have decreased over the last fifty years to record lows. Due to the economic downturn,borrowers with stellar credit and a solid employment history are best able to secure financing right now. However, as conditions improve, the market will expand for borrowers who may not fit the mold of traditonal lending standards, such as the self employed.

A major advantage of homeownership is building equity. The average seller who purchased a home in 2002 gained 24% in equity, while those who purchased their homes 11 to 15 years ago had a median gain of 40%.

So in spite of all the negative news the press is brain washing us with IT IS STILL A GREAT TIME TO BUY A HOME!

For more information on great HOME  DEALS available in North County San Diego give us a call as  we would love to share this information with you.

PAM PARTON:  760-580-1630                             JOANNA WOOLLEY: 760-580-1615

Content courtesy of

Brian Buffini, Wall Street Jouranl and National Association of Realtors.

Current Market Trends For
Rancho Santa Fe, CA
February 2009

Nothing says Buyers Market more than these stats right here. 

If you are looking for an ultimate home with all the amenities, in one of Americas finest cities, Rancho Santa Fe, you are in home shopper paradise. 

 Just look at these numbers, 311 active properties and just 5 sold properties in February. 

Deals of the decade will be made right here in Rancho Santa Fe this year.  If you truly understand the Real Estate market, whether good times or bad, you know that statistics show an average of 7% – 8% increase of value of a home every year. 

Do the math.  If you purchase an average home today in Rancho Santa Fe for approximately $2,700,ooo, in just 5 short years, theareticlly you will enjoy a return on your investment of over $1,000,000.  Not to mention you will be living in a home that most people only dream of. 

It has often been said, that Real Estate is one of the best investments you can make.  Savy investors know, that Real Estate is long term.  Don’t panic when the market is down, instead sniff out those bargain basement deals, and start building your wealth. 

  In 10 -15 years, you don’t want to be one of those that say,”I wish I did”.  Be one of those savy investors who recognize the time is now.  With stats like these it’s as plain as the nose on your face, Rancho Santa Fe is still a BUYERS MARKET! 

There is no time like the present to grab your favorite agent and start shopping for that dream home you may have thought was too far fetched.

If you need any help to get started, give us a call, we answer our phones and we’re here to help.

 Pam and Joanna
760-580-1615 or 760-580-1630

    Current Market Trend for Rancho Santa Fe, CA 92067
   December 2008

This zip code is my favorite to research and post.  It never ceases to amaze and astonish me the size of the homes, the amenities, and the prices paid for these Magnificent Estates.

The thing you really must take note of though, is the incredible imbalance in the number of active listings and the number of sold and pending.  And the average list price compared to the average sold price.  Hmmmm….I guess these current economic times really do affect every level, don’t they?

These figures are just an average taken of the activity in this area.  Every property has its own unique value of course.   If you would like a more complete  analysis of any area in San Diego County or your own home, just call

Pam and Joanna
760-580-1615 or 760-580-1630
or email us at
pamandjoanna@gmail.com

Gorgeous Rancho Santa Fe Home - one to dream about

This is one to Dream about!

Just Sold for $2,550,000

This gorgeous home on Avenida Alteras in Rancho Santa Fe was an incredible opportunity for some lucky buyer.

Reduced $800K from the original price. It is definitely a home for entertaining with its fabulous wetbar in the family room and huge formal living room.

Family room with vaulted open beam ceilings

This wonderful oversized parcel surrounded by lush tropical landscaping boasts a 6,021 sq ft home with 6 spacious bedrooms and 5 full bathrooms, detached guest house, new inground pool, new patio, new kitchen and family room to name but a few of the appealing features of this gorgeous home.

Imagine if it were yours!