Within your residential neighborhood, you want the nearby properties to be fairly homogeneous – alike in style, size, and structure. This does not mean they should all be exactly the same, either. Owners will put their own unique stamp on their homes.
Your future home should be located as close to the center of this neighborhood as possible. Avoid the edges. In short, you do not want your property to back or side to a busy street. If you are buying a single family home, you do not want your property to border a condominium, apartment complex, business, school, or even a park.
You also want to make sure the street you buy on is not used as a shortcut between two busier streets. Nor do you want to buy a house on a corner lot, as those tend to attract more street traffic and are not as safe for children. Buy in the middle of the block or on a cul de sac.
Like we said before, you want your home to be neatly tucked away in the center of your residential neighborhood.
http://www.realestateabc.com/homebuying/location3.htm
Thursday, August 23, 2007
Location – The Local Neighborhood
The term "local neighborhood" refers to an area wide enough to cover your residential area plus nearby stores such as the "neighborhood grocery store."
You want to be sure all essential shops and services are located nearby. This would include grocery stores, gas stations, dry cleaners, and convenience stores. There should also be fairly convenient access to local highways, major traffic routes, and mass transit.
One thing you should look out for, though. If your local shopping center is in decline, it could be an indicator that the local neighborhood is in decline, too. Check to see if a lot of storefronts in your local center are vacant or available for lease. If they are, you might want to consider moving your purchase a few blocks.
http://www.realestateabc.com/homebuying/location2.htm
Buying a Home With Resale Value
Location – Local Community, Town or City
Before you can actually pick out a house, you need to choose what cities or communities you would like to live in. There are many factors you should pay attention to, not only for yourself, but because you intend to eventually sell the home to someone else. Carefully choosing your community is the first step in "location, location, location" and can help maximize your future potential resale value.
Economic Stability
When choosing a community for your purchase, it makes the most sense to buy in a city with a viable and stable economy. Five, ten, or even fifteen years from now – when you want to sell your home – you can have a reasonable expectation that your community will still be a desirable place to live.
In addition to residential neighborhoods, there should be a healthy mixture of commercial and business districts. These not only provide jobs to the local residents, but also add an income source that the city can use to upgrade and maintain roads and city services.
In fact, you should take a drive and see how well the community is maintained. You have probably heard of "pride of ownership" when referring to an individual home or an automobile. Look to live in a city that demonstrates community pride, as well.
Local Government Services
In addition to community pride, check on the services provided by local government. One example would be the local library system. Are there several library branches? Do they stock a good selection of books, including recent best sellers?
You should also look into local crime statistics and see how the city compares to the national average and other local communities. Is the police force effective and responsive to community needs? Are fire stations located strategically around the community so that they also can respond quickly in an emergency?
Another area of inquiry is community services. Does the city sponsor youth sports and have well maintained athletic facilities and parks? Do they sponsor community events, such as an annual parade? Are there activities available for children, teenagers and senior citizens?
Your local agent, if they are a good one, will have amassed a wealth of information on these subjects of inquiry. It is also another reason to always use a local agent.
Schools
Even if you do not have school-age children and do not intend to have children, you must pay attention to the local school system. That is because when you sell the property, many of your potential buyers will have concerns of this nature.
You will want to know if the local schools are overcrowded. Take a drive around and see if there are auxiliary trailers outside the local schools. Call up the local school district and see if elementary aged children always attend the school closest to their home. If not, ask why. Are there enough schools to support the local population? If not, are there plans to build new schools? How will building new schools affect local property taxes?
You should also check to see how local students score on the standardized tests. You can ask your agent about these things, but you should also get the local phone numbers so you can ask yourself.
There are also school reports available for free on the Internet.
Property Taxes
Property taxes may be higher in one town than another nearby city. This can sometimes affect whether potential homebuyers view a community as a desirable place to live. Often, they will choose not to purchase in a community with higher taxes, though this decision is not always justified. Higher property taxes often mean newer and more modern schools, well-maintained roads, and bountiful community services.
In addition, you will often find that the "cost per square foot" of homes is lower in cities that have higher property taxes. This means you can buy a bigger house for less money. Since the mortgage payment may be lower, but the property taxes a bit higher, the monthly housing costs may be approximately the same in each city.
However, many agents and prospective buyers have a bias against a community with higher property taxes. If resale value is important to you, make property taxes a consideration when choosing the location of your new home.
http://www.realestateabc.com/homebuying/location1.htm
Before you can actually pick out a house, you need to choose what cities or communities you would like to live in. There are many factors you should pay attention to, not only for yourself, but because you intend to eventually sell the home to someone else. Carefully choosing your community is the first step in "location, location, location" and can help maximize your future potential resale value.
Economic Stability
When choosing a community for your purchase, it makes the most sense to buy in a city with a viable and stable economy. Five, ten, or even fifteen years from now – when you want to sell your home – you can have a reasonable expectation that your community will still be a desirable place to live.
In addition to residential neighborhoods, there should be a healthy mixture of commercial and business districts. These not only provide jobs to the local residents, but also add an income source that the city can use to upgrade and maintain roads and city services.
In fact, you should take a drive and see how well the community is maintained. You have probably heard of "pride of ownership" when referring to an individual home or an automobile. Look to live in a city that demonstrates community pride, as well.
Local Government Services
In addition to community pride, check on the services provided by local government. One example would be the local library system. Are there several library branches? Do they stock a good selection of books, including recent best sellers?
You should also look into local crime statistics and see how the city compares to the national average and other local communities. Is the police force effective and responsive to community needs? Are fire stations located strategically around the community so that they also can respond quickly in an emergency?
Another area of inquiry is community services. Does the city sponsor youth sports and have well maintained athletic facilities and parks? Do they sponsor community events, such as an annual parade? Are there activities available for children, teenagers and senior citizens?
Your local agent, if they are a good one, will have amassed a wealth of information on these subjects of inquiry. It is also another reason to always use a local agent.
Schools
Even if you do not have school-age children and do not intend to have children, you must pay attention to the local school system. That is because when you sell the property, many of your potential buyers will have concerns of this nature.
You will want to know if the local schools are overcrowded. Take a drive around and see if there are auxiliary trailers outside the local schools. Call up the local school district and see if elementary aged children always attend the school closest to their home. If not, ask why. Are there enough schools to support the local population? If not, are there plans to build new schools? How will building new schools affect local property taxes?
You should also check to see how local students score on the standardized tests. You can ask your agent about these things, but you should also get the local phone numbers so you can ask yourself.
There are also school reports available for free on the Internet.
Property Taxes
Property taxes may be higher in one town than another nearby city. This can sometimes affect whether potential homebuyers view a community as a desirable place to live. Often, they will choose not to purchase in a community with higher taxes, though this decision is not always justified. Higher property taxes often mean newer and more modern schools, well-maintained roads, and bountiful community services.
In addition, you will often find that the "cost per square foot" of homes is lower in cities that have higher property taxes. This means you can buy a bigger house for less money. Since the mortgage payment may be lower, but the property taxes a bit higher, the monthly housing costs may be approximately the same in each city.
However, many agents and prospective buyers have a bias against a community with higher property taxes. If resale value is important to you, make property taxes a consideration when choosing the location of your new home.
http://www.realestateabc.com/homebuying/location1.htm
Buying a Home With Resale Value - the House
Buying a Home With a View
Homes with a pleasant view of the horizon often sell at a premium above similar homes without the view. However, if a view is important to you, buy it mostly for your own pleasure and not as an investment. Though you may place a considerable dollar value on the view, future buyers may not be so like-minded. It may take you longer to find a buyer when it comes time to resell the house. Or you may end up dropping your price to more nearly match other sales prices in the neighborhood.
In short, if you are buying a house with a view, try to pay as little extra as possible. Otherwise, you might not get your money back.
Lot and Landscaping
Even though most real estate value is usually concentrated in the building, the lot is important, too. Obviously, it should be as level as possible. Assuming the property is in a typical neighborhood, the lot should be rectangular – no odd shaped lots or oddly situated lots.
Yard sizes are smaller in modern homes than in older homes, but there should still be a decently sized front and back yard. Do not buy a house where the entire back yard is taken up by a swimming pool, for example.
Do not purchase an over-landscaped property, either. You would normally pay a premium for that, which you may not be able to recover when you sell. You will get your best value if the house is moderately landscaped or under-landscaped for the area. You can always improve the landscaping during your ownership by improving the grass and adding bushes and trees. Just do not spend too much.
House Size
In each residential neighborhood, houses will vary in size and rooms, but they should not be too different. If resale value is an important consideration, you should not buy the largest model in the neighborhood. When determining market value, the homes nearest to yours are most important. If most of the nearby houses are smaller than your house, they can act as a drag on appreciation.
On the other hand, if you buy a small or medium house for the neighborhood, the larger homes can help pull up your value. This is one of those times where determining your "wants" versus your "needs" can be extremely important. Buying what you need in a more prestigious neighborhood may provide more financial reward than getting what you want in a less desirable neighborhood.
Bedrooms and Bathrooms
Three and four bedroom houses are the most popular among homebuyers, so if you can stick in that range you will have more potential buyers when it comes time to resell. Five is okay, too, as long as you do not have to pay too much extra for the additional bedroom.
There should always be at least two bathrooms in a house, preferably at least two and a half. One bathroom with a place to wash up for day-to-day visitors, one for the master bedroom, and at least one to be shared by the other bedrooms.
Closets, Garages, and Laundry
Walk-in closets are extremely desirable for the master bedroom. For the rest of the house, just be sure there is plenty of closet space. Don’t forget space for linens and towels.
Garages add to the resale value and you should always make sure to get at least a two-car garage. Lately, three-car garages have become desirable in some areas of the country.
The laundry facilities should be located somewhere convenient on the main floor of the house, but not in a place it will create an eyesore. Think about whether you want to walk up and down stairs when carrying loads of laundry.
The Kitchen
Family activity centers around the kitchen, so this is the most important room of the house. Larger kitchens are better, and they should be provided with modern appliances. Obviously, the dining room and breakfast nook should be located adjacent to the kitchen. In newer houses, the family room should also be extremely close to the kitchen.
There should be easy access to the back yard, as there will be occasions for barbecues and outdoor entertaining. In addition, it should be a short trek between the garage to the kitchen so hauling groceries in from the car does not become a horrendous chore.
Fireplaces
The only room where you absolutely have to have a fireplace is the family room. A fireplace in the living room may be nice, but you pay extra for it and will probably rarely use it. At best, it serves as a focal point of the living room, but does not add much in real value.
Swimming Pools
Swimming pools do not provide as much added value as they once did. Safety issues about families with younger children have become more publicized than in the past, so families with small children tend to avoid homes with pools. As a result, having a pool may actually reduce the number of potential homebuyers when you try to resell the home.
Buy a home with a pool for your own enjoyment, not as an investment.
Since we are on the subject of swimming pools, here is a word of advice: If you want a pool, buy a home that already has a pool. Paying a contractor to install one for you is like throwing money away. You will never get a dollar-for-dollar return on your investment.
http://www.realestateabc.com/homebuying/house.htm
Homes with a pleasant view of the horizon often sell at a premium above similar homes without the view. However, if a view is important to you, buy it mostly for your own pleasure and not as an investment. Though you may place a considerable dollar value on the view, future buyers may not be so like-minded. It may take you longer to find a buyer when it comes time to resell the house. Or you may end up dropping your price to more nearly match other sales prices in the neighborhood.
In short, if you are buying a house with a view, try to pay as little extra as possible. Otherwise, you might not get your money back.
Lot and Landscaping
Even though most real estate value is usually concentrated in the building, the lot is important, too. Obviously, it should be as level as possible. Assuming the property is in a typical neighborhood, the lot should be rectangular – no odd shaped lots or oddly situated lots.
Yard sizes are smaller in modern homes than in older homes, but there should still be a decently sized front and back yard. Do not buy a house where the entire back yard is taken up by a swimming pool, for example.
Do not purchase an over-landscaped property, either. You would normally pay a premium for that, which you may not be able to recover when you sell. You will get your best value if the house is moderately landscaped or under-landscaped for the area. You can always improve the landscaping during your ownership by improving the grass and adding bushes and trees. Just do not spend too much.
House Size
In each residential neighborhood, houses will vary in size and rooms, but they should not be too different. If resale value is an important consideration, you should not buy the largest model in the neighborhood. When determining market value, the homes nearest to yours are most important. If most of the nearby houses are smaller than your house, they can act as a drag on appreciation.
On the other hand, if you buy a small or medium house for the neighborhood, the larger homes can help pull up your value. This is one of those times where determining your "wants" versus your "needs" can be extremely important. Buying what you need in a more prestigious neighborhood may provide more financial reward than getting what you want in a less desirable neighborhood.
Bedrooms and Bathrooms
Three and four bedroom houses are the most popular among homebuyers, so if you can stick in that range you will have more potential buyers when it comes time to resell. Five is okay, too, as long as you do not have to pay too much extra for the additional bedroom.
There should always be at least two bathrooms in a house, preferably at least two and a half. One bathroom with a place to wash up for day-to-day visitors, one for the master bedroom, and at least one to be shared by the other bedrooms.
Closets, Garages, and Laundry
Walk-in closets are extremely desirable for the master bedroom. For the rest of the house, just be sure there is plenty of closet space. Don’t forget space for linens and towels.
Garages add to the resale value and you should always make sure to get at least a two-car garage. Lately, three-car garages have become desirable in some areas of the country.
The laundry facilities should be located somewhere convenient on the main floor of the house, but not in a place it will create an eyesore. Think about whether you want to walk up and down stairs when carrying loads of laundry.
The Kitchen
Family activity centers around the kitchen, so this is the most important room of the house. Larger kitchens are better, and they should be provided with modern appliances. Obviously, the dining room and breakfast nook should be located adjacent to the kitchen. In newer houses, the family room should also be extremely close to the kitchen.
There should be easy access to the back yard, as there will be occasions for barbecues and outdoor entertaining. In addition, it should be a short trek between the garage to the kitchen so hauling groceries in from the car does not become a horrendous chore.
Fireplaces
The only room where you absolutely have to have a fireplace is the family room. A fireplace in the living room may be nice, but you pay extra for it and will probably rarely use it. At best, it serves as a focal point of the living room, but does not add much in real value.
Swimming Pools
Swimming pools do not provide as much added value as they once did. Safety issues about families with younger children have become more publicized than in the past, so families with small children tend to avoid homes with pools. As a result, having a pool may actually reduce the number of potential homebuyers when you try to resell the home.
Buy a home with a pool for your own enjoyment, not as an investment.
Since we are on the subject of swimming pools, here is a word of advice: If you want a pool, buy a home that already has a pool. Paying a contractor to install one for you is like throwing money away. You will never get a dollar-for-dollar return on your investment.
http://www.realestateabc.com/homebuying/house.htm
Wednesday, August 22, 2007
Buying Incentives
In today's high-stakes real estate market it is important for sellers to present the most comprehensive home package that they can. Buyers like to feel like they are getting a good deal on a good home and it is up to the seller to ensure that buyers are happy with the purchase of their home.
One way that a seller can do this is to allow certain incentives to buyers so that they can customize the home to their liking or to fix certain things that the buyer does not have time to fix before the sale. Satisfaction is really important in a home sale as buyer's remorse on a 100k+ purchase can be a trying thing. So as a seller what kind of incentives can you offer to buyers to make your home that much more attractive?
The most usual of offered incentives are decoration related. Perhaps you know that your home could use an exterior paint job or an interior touch-up. As opposed to having the job done before listing the home you could let it be known that there is a certain dollar allowance for painting. This will allow the buyer to choose their own colors and make the home that much more their own. Other decorating incentives that are commonly offered are things like flooring or appliances or typically any other aspect of the home that could use improvement that the seller does not have the time to fix themselves.
Incentives have always been used to assist in the selling of products. You can see the practice in use for cars, trucks, furniture and any number of other products and the use of them in home sales makes good sense. If you can get more buyer interest by allowing certain amount for improvements then you are likely to get more serious traffic on your home sale as buyers like the opportunity to have some decision in what the home will look like. Another kind of incentive you can offer is for things that are necessary. If the home needs a new roof then this is an ideal incentive. Incentives will usually take the form of reductions in this price and can be used as negotiating tools by the seller or their representation.
Justin Lee is a real estate agent specializing in Montgomery County real estate Justin's background in economics gives him uncanny insight into the thriving Washington D.C. real estate market. For more information contact Justin soon or visit online at http://www.jdlrealestateonline.com
http://ezinearticles.com/?Buying-Incentives&id=686346
One way that a seller can do this is to allow certain incentives to buyers so that they can customize the home to their liking or to fix certain things that the buyer does not have time to fix before the sale. Satisfaction is really important in a home sale as buyer's remorse on a 100k+ purchase can be a trying thing. So as a seller what kind of incentives can you offer to buyers to make your home that much more attractive?
The most usual of offered incentives are decoration related. Perhaps you know that your home could use an exterior paint job or an interior touch-up. As opposed to having the job done before listing the home you could let it be known that there is a certain dollar allowance for painting. This will allow the buyer to choose their own colors and make the home that much more their own. Other decorating incentives that are commonly offered are things like flooring or appliances or typically any other aspect of the home that could use improvement that the seller does not have the time to fix themselves.
Incentives have always been used to assist in the selling of products. You can see the practice in use for cars, trucks, furniture and any number of other products and the use of them in home sales makes good sense. If you can get more buyer interest by allowing certain amount for improvements then you are likely to get more serious traffic on your home sale as buyers like the opportunity to have some decision in what the home will look like. Another kind of incentive you can offer is for things that are necessary. If the home needs a new roof then this is an ideal incentive. Incentives will usually take the form of reductions in this price and can be used as negotiating tools by the seller or their representation.
Justin Lee is a real estate agent specializing in Montgomery County real estate Justin's background in economics gives him uncanny insight into the thriving Washington D.C. real estate market. For more information contact Justin soon or visit online at http://www.jdlrealestateonline.com
http://ezinearticles.com/?Buying-Incentives&id=686346
In Today's Challenging Market, Using a Professional Real Estate Broker is Paramount for Your Protect
Times have changed and as always when this happens there is a flight to quality. In this case, it is a flight to not only the best agents but to the top brokers who offer more experience, education, and ability to be successful in a down market. This happens in every industry at some point and real estate is no different. Sellers especially have higher expectations of the professionals they hire to sell their homes.
Over the last 7 years when both the national and local Temecula CA real estate and San Diego markets were rising steadily to its peak, people often chose their representation poorly: their friend who worked real estate part-time, a co-worker, the soccer mom down the street, or a new agent who also happened to be a family member. This was understandable due to the large number of agents that flooded the market looking for easy money, the overall heat of the market, and the belief that any real estate agent was the equivalent of a professional and experienced broker.
Although this sentiment was understandable it was also wrong and now represents one major problem among many in the market today. These part-time and inexperienced agents did not know how to guide and protect their clients from aggressive loan brokers, many of whom were also part-time or new to the industry. They also didn’t know how to explain the long term ramifications of a buyer’s purchase in areas such as high tax rates, true comparables, working with home builders, and loan choices. And, to be completely fair, many clients simply didn’t want to listen.
Now, as more and more people find themselves in financial straights, clients are starting to listen and be much more discriminate in their selection of a real estate professional. As many of the newer agents are leaving the industry and loan companies are shutting down, the needs of buyers and sellers have grown significantly. It is time for the true and proven industry professionals to start meeting these increased needs. It is also time for clients to start making the smart long term choices and avoid the seemingly easy ones that cost much more in the end.
There are different levels of competence in every profession. The true professionals in real estate are full-time, committed to learning, and put their clients first. A real estate broker should act as the quarterback of your team, guiding the entire process from start to finish. He should feel comfortable communicating his thoughts about the choices you are making whether or not it is what you want to hear at the moment. A professional broker will put your long-term interests first. In doing so he hopes to create a satisfied, loyal customer thereby protecting his own long-term interests as well.
Your broker should also be experienced with short sales, foreclosures, marketing in a difficult market, and have connections to professionals in real estate law and bank processes. Be sure to interview brokers about their experience with your particular situation. And make sure to share your expectations with them up front and simply ask them if they believe your expectations are realistic.
Client expectations that are out of line with the market are a major cause of broker concern. Many Southern California Real estate professionals are investing their time and money to sell a property. It is taking much more of both in the current market than it has at any other time over the last decade. It is unrealistic for you to expect a broker to invest hundreds, if not thousands, of dollars trying to sell your home if you are pricing it too high, not having it ready to show, or ignoring their professional observations.
The most important thing to remember is that real estate is one of the biggest and best investments you can ever make. It gives you a place to call home and a community where your family will participate and make friends. But it is also an investment and ultimately the decisions you make will mean the difference between your long-term financial success and failure. Get the best professional you can – one whom you trust, respect, feel comfortable with, and who is also a master in his craft.
Stefan West is a Temecula and Murrieta California Real Estate Broker who specializes in the communities of Temecula, Murrieta, Menifee, and Wildomar Real Estate. To learn more please visit his website at http://www.stefanwest.com for more information.
http://ezinearticles.com/?In-Todays-Challenging-Market,-Using-a-Professional-Real-Estate-Broker-is-Paramount-for-Your-Protect&id=687068
Over the last 7 years when both the national and local Temecula CA real estate and San Diego markets were rising steadily to its peak, people often chose their representation poorly: their friend who worked real estate part-time, a co-worker, the soccer mom down the street, or a new agent who also happened to be a family member. This was understandable due to the large number of agents that flooded the market looking for easy money, the overall heat of the market, and the belief that any real estate agent was the equivalent of a professional and experienced broker.
Although this sentiment was understandable it was also wrong and now represents one major problem among many in the market today. These part-time and inexperienced agents did not know how to guide and protect their clients from aggressive loan brokers, many of whom were also part-time or new to the industry. They also didn’t know how to explain the long term ramifications of a buyer’s purchase in areas such as high tax rates, true comparables, working with home builders, and loan choices. And, to be completely fair, many clients simply didn’t want to listen.
Now, as more and more people find themselves in financial straights, clients are starting to listen and be much more discriminate in their selection of a real estate professional. As many of the newer agents are leaving the industry and loan companies are shutting down, the needs of buyers and sellers have grown significantly. It is time for the true and proven industry professionals to start meeting these increased needs. It is also time for clients to start making the smart long term choices and avoid the seemingly easy ones that cost much more in the end.
There are different levels of competence in every profession. The true professionals in real estate are full-time, committed to learning, and put their clients first. A real estate broker should act as the quarterback of your team, guiding the entire process from start to finish. He should feel comfortable communicating his thoughts about the choices you are making whether or not it is what you want to hear at the moment. A professional broker will put your long-term interests first. In doing so he hopes to create a satisfied, loyal customer thereby protecting his own long-term interests as well.
Your broker should also be experienced with short sales, foreclosures, marketing in a difficult market, and have connections to professionals in real estate law and bank processes. Be sure to interview brokers about their experience with your particular situation. And make sure to share your expectations with them up front and simply ask them if they believe your expectations are realistic.
Client expectations that are out of line with the market are a major cause of broker concern. Many Southern California Real estate professionals are investing their time and money to sell a property. It is taking much more of both in the current market than it has at any other time over the last decade. It is unrealistic for you to expect a broker to invest hundreds, if not thousands, of dollars trying to sell your home if you are pricing it too high, not having it ready to show, or ignoring their professional observations.
The most important thing to remember is that real estate is one of the biggest and best investments you can ever make. It gives you a place to call home and a community where your family will participate and make friends. But it is also an investment and ultimately the decisions you make will mean the difference between your long-term financial success and failure. Get the best professional you can – one whom you trust, respect, feel comfortable with, and who is also a master in his craft.
Stefan West is a Temecula and Murrieta California Real Estate Broker who specializes in the communities of Temecula, Murrieta, Menifee, and Wildomar Real Estate. To learn more please visit his website at http://www.stefanwest.com for more information.
http://ezinearticles.com/?In-Todays-Challenging-Market,-Using-a-Professional-Real-Estate-Broker-is-Paramount-for-Your-Protect&id=687068
What You Need To Know About Temecula Ca Real Estate Property Taxes
One of the biggest home-buying factors that buyers underestimate in Temecula Valley Real Estate is property taxes. Most new homes in Temecula, Murrieta, Menifee and Wildomar California have special assessments built into property taxes. Rates of from 1.7% to 1.9% and even to 2.2% are pretty common. How can this impact buyer decision making? Let’s take a look:
Buyers: Say you are buying a new home in Murrieta CA for $310,000 with a 20% ($62,000) down payment and a tax rate of 1.9 with and an association fee of $50 per month. Your 80% loan of $248,000 at a 6% interest rate would be $1,486.89 per month. Your new property taxes of 1.9% generate an annual tax bill of $5890, or $490.83 per month. The total payment for your new house in Murrieta is $1486.89 + $490.83 + $50 = $2,027.72. And you still have a backyard and window coverings plus much more to put in!
Now let’s say you are buying a resale home in Temecula CA for $330,000. The home is 2 years old with a great backyard and patio cover and a 1.38% tax rate plus the same $50 association fee. Your 20% down payment would be $66,000 making your new loan $264,000 at 6% with a monthly payment of $1582.81. Your taxes would now be $4554 or $379.50 per month. So your total monthly payment is $1582.81 + $379.50 + $50 = $2,012.31 or $15.41 less a month.
And you get $20,000 more home with a backyard, window coverings, and patio cover already put in. Not to mention any other benefits such as a bigger home, better lot or preferred community. And you can still negotiate and maybe split closing costs with the seller and save several thousand dollars up front. Now your monthly payment is paying down over $100 more towards your debt versus additional property taxes.
As you can see a moment of consideration can mean quite a bit when discussing property taxes for Temecula-Murrieta-Menifee-Wildomar communities. This is especially true for new homes in southern CA which often have property taxes pegged at 1.9%. There are certain neighborhoods in all of these areas that have very low property taxes compared to others. That is where a good real estate agent can help you.
If you are looking to purchase a new home in Temecula, Murrieta, Menifee or Wildomar with a builder please contact an agent before you even walk in the door. I promise you will not lose financially and are more likely to actually gain rather than dealing with the builder on their terms. Good agents know all the builders and often will be aware of better deals with more buyer incentives as well.
If a builder is trying to avoid an agent being involved then there is often something wrong. Right now most builders are paying extra for agents because they are having a hard time finding qualified buyers and also moving inventory with such high tax rates. There are some great deals out there with many builders that your agent can guide you to. They can also provide you a realistic comparison of other opportunities so you get the best long-term value and satisfaction from your new home purchase.
Stefan West is a Temecula and Murrieta California Real Estate Broker who specializes in the communities of Temecula, Murrieta, Menifee, and Wildomar Real Estate. To learn more please visit his website at http://www.stefanwest.com for more information.
http://ezinearticles.com/?What-You-Need-To-Know-About-Temecula-Ca-Real-Estate-Property-Taxes&id=687078
Buyers: Say you are buying a new home in Murrieta CA for $310,000 with a 20% ($62,000) down payment and a tax rate of 1.9 with and an association fee of $50 per month. Your 80% loan of $248,000 at a 6% interest rate would be $1,486.89 per month. Your new property taxes of 1.9% generate an annual tax bill of $5890, or $490.83 per month. The total payment for your new house in Murrieta is $1486.89 + $490.83 + $50 = $2,027.72. And you still have a backyard and window coverings plus much more to put in!
Now let’s say you are buying a resale home in Temecula CA for $330,000. The home is 2 years old with a great backyard and patio cover and a 1.38% tax rate plus the same $50 association fee. Your 20% down payment would be $66,000 making your new loan $264,000 at 6% with a monthly payment of $1582.81. Your taxes would now be $4554 or $379.50 per month. So your total monthly payment is $1582.81 + $379.50 + $50 = $2,012.31 or $15.41 less a month.
And you get $20,000 more home with a backyard, window coverings, and patio cover already put in. Not to mention any other benefits such as a bigger home, better lot or preferred community. And you can still negotiate and maybe split closing costs with the seller and save several thousand dollars up front. Now your monthly payment is paying down over $100 more towards your debt versus additional property taxes.
As you can see a moment of consideration can mean quite a bit when discussing property taxes for Temecula-Murrieta-Menifee-Wildomar communities. This is especially true for new homes in southern CA which often have property taxes pegged at 1.9%. There are certain neighborhoods in all of these areas that have very low property taxes compared to others. That is where a good real estate agent can help you.
If you are looking to purchase a new home in Temecula, Murrieta, Menifee or Wildomar with a builder please contact an agent before you even walk in the door. I promise you will not lose financially and are more likely to actually gain rather than dealing with the builder on their terms. Good agents know all the builders and often will be aware of better deals with more buyer incentives as well.
If a builder is trying to avoid an agent being involved then there is often something wrong. Right now most builders are paying extra for agents because they are having a hard time finding qualified buyers and also moving inventory with such high tax rates. There are some great deals out there with many builders that your agent can guide you to. They can also provide you a realistic comparison of other opportunities so you get the best long-term value and satisfaction from your new home purchase.
Stefan West is a Temecula and Murrieta California Real Estate Broker who specializes in the communities of Temecula, Murrieta, Menifee, and Wildomar Real Estate. To learn more please visit his website at http://www.stefanwest.com for more information.
http://ezinearticles.com/?What-You-Need-To-Know-About-Temecula-Ca-Real-Estate-Property-Taxes&id=687078
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