Sunday, December 16, 2018

California Renters Still Want to Own a Home

California renters still want to own a home: four out of five renters state they want to own a home some day, and this is in spite of affordability challenges.

Some of the statistics indicate that nearly half of renters say they would purchase a home if they got a new job, a raise, or a promotion, while another 40 % say they would be motivated to buy a home if they got married or were starting a family.

Source: the 2018 California Association of Realtors Consumer Survey.

Thinking of purchasing, or moving soon?  let me know: I can help you decide what is best for your current siuation.  And if you are currently in the market, consider these thoughts:

Click on the image to read better.

Thanks for reading, and sharing.

Wednesday, December 12, 2018

Non-homeowners in SF could spend $2.5 million in rent by age 60

Non-homeowners in SF could spend $2.5 million in rent by age 60

A new report finds that those who put their money into rent rather than home equity blow an
estimated $2.5 million between the ages of 25 and 60.
The study by the personal finance site Go Banking Rates (see the article by Gabriele Olya - June 6, 2018) looked at how much someone who starts paying rent at 25 would spend by ages 30, 40, 50 and 60 in America's 25 most populous cities.

I like to put things in perspective: in real life most people would move at some point or other, relocate, change jobs or change their family situation.
Purchasing a home is not always the best option: it depends on many factors - job stability, savings, goals in life, priorities, family situations etc...  Still, the information is an important part of the equation when considering a home purchase.
.... As is the current home ownership rate in the US: 64.4%.

Any question regarding a real estate purchase or sale? Or trying to understand the parameters? Let me know!   
Thanks for reading,


My Home Valuation tool
Detailed, local trends etc...
Current mortgage rates   (came down a bit, thank you Wall Street  ;-) 

Thursday, December 6, 2018

All Cash Deal - Time to Save on Title Insurance?


One may think that Title Insurance is an unnecessary cost in a real estate transaction. After all, what can go wrong if you have excellent sellers' disclosures, and all looks so good and simple?
Title Insurance is mandated by the bank when one has to finance the purchase. But it is not mandated when one buys cash: in that case, it is up to the buyer to request Title Insurance.

There are many reasons why it is not a great idea to purchase without Title Insurance, and they are well summarized in this post from Cornerstone Title insurance.

Getting Title Insurance is the only way you can have some vision on the history of the property, and whether or not it has liens or encumbrances.  I also personally think it is a good idea (i.e. a very good idea) to talk to the Title company and ask questions about the preliminary title report and what it means exactly, when you are in contract to purchase a property.

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Thank you for reading,

Home Valuation tool
Detailed, local trends etc...
Current mortgage rates  
A worthy local non-profit to remember: Second Harvest Food Bank Santa Clara County.