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The Home Buyer's Guide to Getting Mortgage Ready

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The Home Buyer's Guide to Getting Mortgage Ready   Don’t wait until you’re ready to move to start preparing financially to buy a home.   If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage.   The requirements to secure a mortgage may seem overwhelming, especially if you’re a first-time buyer. But I’ve outlined three simple steps to get you started on your path to homeownership.   Even if you’re a current homeowner, it’s a good idea to prepare in advance so you don’t encounter any surprises along the way. Lending requirements have become more rigorous recently, and changes to your credit history, debt levels, job type and other factors could impact your chances of approval.   It’s never too early to start preparing to buy a home. Follow these three steps to begin laying the foundation for your...
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Move-Up vs. Second Home: Which One Is Right For You?

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If you're feeling cramped in your current space, you've probably considered a move. But what type of home would suit you best? A move-up home or a second home? For many South residents, the answer may be different today than it was just months ago. Why? Because the pandemic has changed the way many of us live, work, and attend school—and for many, those changes have shifted the priorities when it comes to choosing a home. According to a recent survey by The Harris Poll, 75% of respondents who have begun working remotely during the pandemic would like to continue doing so—and interestingly,  66% would consider moving if they no longer had to commute as often. Some of the top reasons people considering a move were to gain a dedicated office space (31%), enjoy a larger home (30%) and have more rooms overall (29%). 1       It's no wonder space has become. a major concern. Online school has become a reality for families everywhere - including here in the South Bay - ...
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Is Now a Good Time to Buy or Sell Real Estate?

    Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year. 1   Fortunately, as restrictions have eased, we’ve seen an uptick in market activity.  Homebuyer demand is beginning to show signs of life. Overall, the  U.S. recorded its 6th consecutive increase in new purchase-money applications. That brings the number of mortgage applications back above the pre-crisis levels of late February. Importantly, this also erases the year-to-year deficit that peaked in mid-April as well with total applications 8% higher last week than they were during the same period of 2019.   California saw its 7th consecutive weekly gain in mortgage applications as well, though it also saw a bigger contraction in the immediate aftermath o...
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