19 Jul 2021In 2020, the United States witnessed a real estate phenomenon. Interest rates dropped, home prices rose, and U.S. homeowners pulled out nearly $185 billion from their homes' equity through cash-out refinancing, representing the highest amount of equity pulled out since 2007. However, analysts are now warning homeowners to be cautious when pursuing a cash-out refinance. Here's why.
25 Jun 2021A property’s value is often related to the view it offers residents. A home facing an ocean or lake often sells at an exponentially higher rate than its neighbor across the street. This is due to the simple fact that residents reap the benefits of waking up to a luxurious coastal view every morning. Unfortunately, pristine views are not guaranteed, and occasionally a neighbor can obstruct yours. Has this happened to you? If so, what
16 Feb 2021By Maddi Arcurio - Marketing Coordinator, Communications at HomeLight If you're planning on taking advantage of the seller's market by listing your home this year, a little preparation will help you sell your home fast. While the market is hot, you don't want to give prospective buyers any reason to pass on your house. So, as you prepare your home, keep an eye out for some of the areas that commonly fail home inspections. Let's
9 Dec 2020Working with a real estate agent brings its many perks. As professionals in the industry, they are educated on market trends and can provide buyers and sellers with opportunities they may have missed on their own. For example, buyers may be privy to off-market opportunities when working with a real estate agent. However, what many buyers and sellers do not understand is that there are two different types of relationships they can have with their
12 Nov 2020Un-permitted work on a home can prove to be damaging to a home sale. It can be both timely and costly. So, for those looking to buy or sell a home, be sure to stay updated on the critical aspects of permits and understand what to do if there is un-permitted work on a home. What Home Projects Need A Permit? The first question I often get is What projects actually need permits? Overall, any
8 Sep 2020Earlier this year we started to witness an increase in transaction velocity for homes across the county. This was a direct result of the Fed cutting rates, which ultimately provided Americans a chance to purchase a home at a historically low interest rate. When the pandemic swept the globe a short time later, analysis predicted that velocity would slow down as a result of two factors: 1) People fearing the impact of the virus, and
11 Feb 2020If you are considering purchasing land to build a home, it is important to understand that the loan necessary to purchase the land will be quite different compared to your regular mortgage. Here are some of the key points to understand when you are pursuing a land loan: 1 – Not All Land is Created Equal As stated above, not all land is the same. Land can have a variety of improvements, many which are
11 Feb 2020To finance a home on a vacant lot you will need to obtain a construction loan. These vary drastically when compared to residential loans since they are directly associated with building a house. Construction loans have different terms and bring different value to the borrower. Here are the steps simply outlined to build your dream home from the ground up. Getting the Land Before you can build a home, you will need to secure the
10 Dec 2019According to the California Department of Forestry & Fire Protection (CAL FIRE), there have been 6,872 reported number of fires, 253,321 acres of land burned, 732 structures damaged or destroyed, and 3 confirmed fatalities, all within California this last year. They reported that California has witnessed one of the “deadliest and most destructive wildfires in its history in 2017 and 2018.” CAL FIRE identified that although “wildfires are a natural part of California’s landscape, the
9 Dec 2019Change is difficult, but perspective makes a huge difference: Downsizing does not have to be a negative moment in your life. In fact, downsizing your home represents tremendous opportunity and can actually bring many benefits to your daily life! First off, when you downsize you have less space to take care of. Therefore, when it comes to cleaning and organizing, in the future, there will be fewer chores to handle. Secondly, downsizing actually helps reduce
8 Dec 2019Many people nearing the end of their professional lives and looking forward to retirement consider moving into a smaller home. Downsizing can bring many benefits especially if you no longer have your children living in the home. By downsizing in your later years, you can help improve the quality of your daily life while saving time and money on the cheaper maintenance of a simpler home. If you are considering moving as you prepare to
28 Nov 2019When you head down the path of homeownership for the first time it is inevitable that you will be faced with an array of decisions related to what amenities you have to give up in order to afford it. This initial step is a huge financial commitment for anyone; and, unless you have endless access to capital, there are bound to be specific aspects of the home that you will have to sacrifice in order to afford your first purchase. These can come in the form of choosing between an extra bedroom verse an office, the size of the backyard, or an extra bathroom.
8 Nov 2019When you are purchasing a home, one of the most important steps you can take is to have a professional inspector evaluate the property. The inspector’s job is to point out flaws and defects on the property, especially if they will impair your ability to use the home.
9 Oct 2019If you are thinking of buying a condo or townhouse with an FHA loan product, we’ve got some good news for you: the Department of Housing and Urban Development (HUD) just made it easier to buy a condo using their Federal Housing Agency (FHA) low down-payment loans. The first thing to note is that, in order to buy a condo or townhouse using an FHA loan product, your unit will need to get “approval” from
2 Oct 2019Are you planning on buying or selling property with a structure on it (i.e. a home, condo, townhouse) in Santa Cruz County? If so, do you know what a pest inspection is and how it is used in the sale of property? Read on to learn why these inspections are important, and how it may impact your home purchase or sale. What is the Pest Inspection? A Wood Destroying Pest & Organism Inspection Report (pest
13 Sep 2019By: Shirley Martin - tidylifetoday.com Moving to a smaller home during retirement? Downsizing is a common move that can improve quality of life for many seniors. With a smaller home comes less worry and stress, so you don't want to worry too much about the steps needed to complete this process smoothly. Which is why you should use the following tips to prevent common mistakes from happening. Look into Local Housing Prices Cost is usually
2 Aug 2019Are you one of the growing numbers of people interested in alternative (and often less expensive) housing options like yurts? If so, it’s important to understand your local government’s rules and regulations related to living in these structures year round, as a primary residence. Read on to explore the option of living in a yurt in Santa Cruz County. What is A Yurt? Traditionally, yurts consisted of an expanding wooden circular frame overlaid with a
1 Jul 2019If you plan to buy or sell a residential home in California, you will likely use the California Residential Purchase Agreement and Joint Escrow Instructions (RPA-CA) contract to specify the terms of the deal and how they will be executed.
4 Jun 2019Imagine purchasing the lot of your dreams, with beautiful views, in the location you’ve always wanted, and then finding out that you are not allowed to build on it because it’s not a legal lot!
3 May 2019Do you own a property which has appreciated considerably since you purchased it? Have you been hesitant to sell because you want to avoid paying capital gains tax? If you've answered yes to either of these questions you may benefit from using a Deferred Sales Trust (DST). If you are at risk of paying a substantial sum in capital gains tax when selling your home, and if you either don’t quality for or would like
3 May 2019Are you unsure if that fence that your neighbor put up is an accurate indicator of your lot’s boundary lines? Do you have a plot map that disagrees with the county's records? If so, you may be one of the many property owners who are not sure where their property's boundary lines fall. Finding accurate lot lines becomes increasingly important when it comes time to buy or sell property - you can imagine how giving
1 May 2019With 1.8 million acres burning over the past year, 2018 was the worst in recorded history for California. A new federal report concluded that "California accounted for the highest number of structures lost in one state in 2018: 17,133 residences, 703 commercial/mixed residential structures and 5,811 minor structures.” Many of us remember the 2016, 4,474-acre Loma Fire which displaced hundreds near the Loma Prieta ridge in the Santa Cruz Mountains and destroyed 12 homes in
8 Apr 2019Locally and on a statewide level, rent control and just cause for eviction ordinances have not been very successful in winning majority-approval. Understandably, legislators fear that if nothing is done, rental housing will continue to make up a disproportionately high percentage of renters paychecks. California legislators are working to come up with solutions to our local and statewide housing issues. Some focus on decreasing the barriers to development, while others focus on capping rental rates
26 Mar 2019If you are buying or selling your home and have just written or received an offer, there is an important clause to be aware of: Dispute Resolution. Most offers to purchase and sell residential real estate in the state of California are written using the California Residential Purchase Agreement And Joint Escrow Instructions form (RPA-CA). When full executed by you and the other party this contract specifies the terms of your sale, including the purchase
14 Mar 2019When you make a modification to your property it’s important to understand the permitting requirements. While a licensed contractor will often know if a permit is needed, ultimately it is your responsibility to ensure that all necessary permits were obtained for the work done. In certain cases, no permit is required, but Building Code laws rules varying from city to city and so the safest course of action is to inquire with your local planning
6 Mar 2019Did you know that the San Lorenzo Valley Watershed has the highest density of septic systems of any comparable area in the State? This means, if you are buying or selling property in the San Lorenzo Valley (Ben Lomond, Felton, Brookdale or Boulder Creek), you’ll likely have to understand what it means to own and what can go wrong with a septic system. The following are typical questions that buyers and/or sellers will ask when dealing with septic systems:
31 Jan 2019Did you know that, if you are 62 or older, you may be able to use a reverse mortgage to purchase a home? In this article we cover how you can use the equity in your current residence to purchase property; different Reverse Mortgage options on the market today, and how this financial decision will impact your heirs. Using a Reverse Mortgages to Buy a Home You may have heard of using a Reverse Mortgages
4 Jan 2019We all do it. From time to time, we all procrastinate on our home maintenance and upkeep. What if this year was different? We propose that all those reading this article create an action plan, noting what maintenance and upgrades their home 1) needs most, 2) probably should have, and 3) would be nice to have. Once you’ve made your list and checked it twice, create an action plan for the year (because unfortunately Santa
17 Dec 2018California just became the first state to require all new construction, starting in 2020, to be solar powered. The new standards apply to new residential single-family buildings and multifamily buildings up to three stories high. The solar power can either be supplied by a new structure’s own set of solar panels, or buy a shared solar-power system serving a group of homes. The formalization of this mandate into the CA Building Code has elicited mixed
30 Oct 2018What is a Green Home? The definition of a “Green Building” can vary widely depending on who you ask. Green buildings are often constructed in a way and/or with building materials that result in less pollution during construction and energy-consumption over the lifetime of the building. Green features can range from energy-saving features to being zero-net energy (a building that produces all of the energy it consumes). Why Green Homes Are A Good