I Found the Home of my Dreams…!

You really can buy your dream home!
You really can buy your dream home!

You have finally found the home of your dreams, but how much should you offer? Without a doubt this is the question I am asked most frequently when working with buyers, especially first-time home buyers. It isn’t always an easy question to answer but there are a few tips to help you make that decision:

1. Ask your agent how much comparable properties in the neighborhood have sold for.  The best indicator of value is the selling price of homes that are similar to the one you are hoping to purchase. Your Realtor can run a search and show you exactly which homes have sold, when, for how much, and generally show you pictures so you can compare condition, location and amenities.
2.  Ask yourself how badly you want this home. For some people, it is just a house, for others it is THE house. If this home is the only one that you believe will meet your needs in the next 5-10 years, you will probably want to make an offer higher than if it is just one of several that will work.
3.  Are you going to ask for the seller to contribute toward your closing costs? If you are, you should factor that into your offer. The more you ask for in the form of seller credits or seller-paid inspections, the more appealing that offer should be. Anytime a buyer is asking for concessions, the offer becomes less and less appealing to the seller. You can compensate for that in your offer price. Ask your Realtor what costs are typically paid by the seller and which are paid by the buyer. This can help you structure your offer to be more enticing to the seller.
4.  Can you afford it? Just because a lender tells you that you can borrow a certain amount doesn’t  mean that you are comfortable at that payment. Look at your budget and decide how much you can manage each month and still put a little into savings for the future. If you have to offer more than that amount, it might be wise to keep looking. Buying a home is probably the largest financial investment most of us will ever make. It is important to do your homework and seek the advice of a licensed real estate professional. Working together with your lender and your Realtor, buying the home of your dreams can be a reality. Happy house hunting!

$130,000 for a 3 bedroom home in Yuba City?!

45 Toldeo Street, Yuba City
45 Toldeo Street, Yuba City

Yes, you read that correctly.  This home is over 1400 square feet and has a HUGE master bedroom with a walk in closet and a fireplace.  Located in central Yuba City, you won’t find a better buy.  The home has some hardwood floors, some tile, and some carpet.  There is a large fireplace in the family room and in the master bedroom and the kitchen was redone several years ago.  The backyard has plenty of space for a garden and the RV parking is an added bonus.  There is nothing priced lower with this square footage that offers so much.  Call today for your private showing, but don’t wait because this one won’t last long.  FHA Case#043-810875.  HUD home sold as-is.  Equal housing opportunity.