Ways To Pay-Off Your Mortgage Early
– from realtytimes.com 5-16-17
Make an extra payment each year
Making 13 payments instead of 12 can save you thousands and shorten your loan. On a 30 year, $200,000 mortgage at 4.5%, you would save $27,000 in interest and pay your loan off 4 years and 3 months early.
Make an extra payment each quarter
Make an extra payment each quarter and you will save $65,000 in interest and pay your loan off 11 years early on the same $200,000 loan at 4.5% interest.
Get rid of PMI (private mortgage insurance)
If your home was purchased with less than 20% down payment then you are probably paying PMI. Check to see if your mortgage balance has changed enough to eliminate this charge and lower your payment.
Apply any windfalls
Get a raise or a bonus? Maybe a surprise cash gift? Instead of taking that vacation or putting it into your savings, apply it to your mortgage balance. A $10,000 lump sum payment on that 30 year, $200,000 mortgage at 4.5% pays it off 2 years and 4 months early and saves more than $19,000 in interest.
All information deemed reliable but not guaranteed. For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant.
IS IT TIME TO SELL?
The real estate market in the Temecula Valley is showing more than just signs of recovery. More and more equity sellers are putting their homes on the market and selling their homes in a short period of time and at a higher price than we have seen in years. Foreclosure sales are still relevent but not in the record numbers that the media has given hype over. Short sale listings are scarce. Mortgage rates are ridiculously low. Buyers are everywhere and Realtors (including ourselves) are pounding the pavement looking for something to sell them!
Is it time for you to sell?
We can provide a professional opinion on potential value for your home to help you make that decision. We can be reached at 951-522-0518 April or 951-522-6308 Gary. Our email address is email@example.com
The graph below is a snapshot of California in general. Keep in mind that some parts of California (Temecula included) tend to outpace others.
Posted in Real Estate, Selling Homes, Short Sales
Tagged French Valley Winchester, Lake Elsinore, Menifee, Murrieta, Real Estate, Real Estate Market, Selling Tips, Short Sale, Southern California home buyers, Temecula, Wine Country
Chardonnay Hills will kick off our “Featured Community” this month. It’s located in the middle of Temecula, at the end of the city limits prior to heading into the wine country area. It’s recognized most by the rock fountain entrance on Rancho California Road with the giant wrought iron gates that are set in a permanent open position.
The community features homes from 1600 Square Feet up to nearly 4000 so it offers a wide range of variety in size and floorplan. There are currently homes for sale starting in the low to mid $200,000’s. Due to the maturity of the community, homeownership turnover is low. Many of the lots are spacious and offer views.
The community association consists of $110.00 per month currently and features 2 community pool areas, tennis courts, BBQ and Picnic areas, playground structures, sand volleyball, basketball and meandering walkways and trails within the neighborhood.
This community boasted “NO MELLO-ROOS” signs when it was being built and the property taxes here are very low because of that. The homes were so popular in the new construction phase that we once waited in line at 6:00am in the morning to put down a deposit at a phase release for our clients that were moving from out of state.
For More Information About Temecula and the Surrounding Communities, please call me at 951-522-0518 or email to firstname.lastname@example.org We’re happy to answer any of your questions. We’ve lived here since 1991!
We should probably start with what TO DO when showing your home but seriously knowing what NOT TO DO may be just as important. Keep in mind that these are general tips that have been proven over and over by experience. They don’t apply to every situation…but why take that chance?
Our Top 5 Things NOT to do–
Overdue it with candles, plug-ins and scented sprays Some people are very sensitive and certain scents may cause allergic reactions or just simply discomfort. Research shows a light vanilla scent is most universally safe.
Hose down entryways and patios off the house right before showings or open houses It may cause slipping or mess and it will discourage most buyers from wanting to step onto the back patio if it is wet.
Close or lock any interior doors Interior doors should be left open to let light travel into the dark interior spaces of the house and buyers are very uncomfortable about opening doors.
Be home during showings or open houses Take a walk or drive around if you have to. We can’t express to you enough how uncomfortable buyers are if you are there. They will spend no time in the home, nor will they be able to discuss any objections or ideas. This is crucial conversation that needs to be had while in the home. There is additional concern on the Buyer drawing you into potential conversations that you do not want to have.
Leave out mail, bills or small valuables, jewelry and trinkets Unfortunately we have to worry about this. Mail, bills and anything that may have identifying or sensitive information needs to be out of sight for identity theft issues. Also we prefer that any palm size valuables be put away during the home selling process.
If you are planning to sell a home in Temecula, Murrieta, Menifee, Wildomar or Winchester…we make a great partner! Call us for more information at 951-522-0518 or teamgreer@C21wright.com
It’s important that anyone considering the need or desire to short sale their property know what the “Arm’s Length Affadavit” document is. Most banks will require this form to be signed at some point in the process of approving the short sale terms and/or at closing. In most cases the real estate agents will be asked to sign right along with Mr. Buyer and Mr. Seller. Holding your breath and hoping it doesn’t appear is not recommended.
The form will vary by lender but the guts of it will be the same. In order to get your short sale approved all parties involved will have to agree in writing that
A. The Seller will not remain in the home. Period.
B. The Buyer and Seller do not have any type of prior relationship. Meaning mom and dad can’t buy your house at a great price. Neither can your business partner or your brother, or…well you get the picture.
C. The Seller will not profit in any way in the sale. No cash changing hands on the side.
D. The Seller will not regain ownership of the home at a later date. A family member can’t buy your house and then give it or sell it back to you.
Clearly this is a form that has brought about heated debate in real estate and legal circles (whether it is legal, if and how it could be enforced, etc.) however it remains an issue on most short sales. This is not an inclusive list but a variation of what we’ve seen in the forms. Each bank has their own form with their own terms. This is not intended to be legal advice, it will be up to the parties involved in each transaction what they will or won’t sign. Some of the banks do not have this form at all.
For more information about short-selling your Temecula Valley home please email us at email@example.com and request a free copy of our “Short Sale Report”.
Have you fallen behind on your mortgage payments, and don’t know what to do? Watch this brief video, and find out what a Short Sale is, and why it may be the solution you have been searching for.
Then contact us at (951) 522-0518/ (951) 522-6308 or firstname.lastname@example.org for a FREE consultation to find out if a Short Sale is right for you.
This quick video tells about a short sale in the simplist of terms. Keep in mind however that some banks do not even require the 3 items this video suggests.
So you are putting your home up for sale. There is so much to go over. But for this post we will concentrate specifically on the basics of showing your home. Having shown hundreds of homes in the Temecula Valley to potential buyers…we have great insight on what the majority of Buyers want in a showing. This doesn’t have anything to do with price, location, number of rooms, etc. If we are coming to show your home with a buyer, your home has already made the cut in the specifics. This is just to get the most out of your showing.
- Neat and Clean Unfortunately there is no substitute for this. De-cluttering ahead of time will help this immensely since you don’t always get a lot of notice and you don’t want to turn anyone away that is going to be accompanied by a Realtor®. If you want to get an idea of what neat and clean means-visit your closest new home models. I know it seems ridiculous to think that anyone could expect you to keep your home this way but they do. Everyone in the family has to help. The better you are at this…the quicker the sale…and the less amount of time you have to do it!
- Lots of Light The best case scenario is that the home is staged for the showing. Every light on, blinds open, interior doors open, soft music playing. But if it is not possible for the home to be staged for every showing than the absolute bare minimum is that all of the window blinds/drapes are left open. Doors throughout the home must be left open to let the natural light travel into the hallways and dark spaces created by closed doors. You might consider putting a timer on hallway lamps for the darker hours when showings might occur. If you know the night before that someone is coming while you will need to be away you can leave the lights on and ask the agent to turn them off when they are done.
- Scents that Make Sense Bad odors are hard to overcome. Buyers will hurry through the home and will be distracted trying to figure out what they are smelling. It quickly becomes the focus which sounds silly but true nonetheless. The best thing to do is to air out your home daily if possible. Especially if you cook a lot , have pets or children in diapers. Smoking should be reserved for the backyard only, not in the garage or near any doorways. People who do not smoke can smell it from a mile away. Fresh air is the best remedy. A quick note on candles or plug ins- Be careful not to overdo it. A food scent is good but plain vanilla is best. Research has shown that vanilla is the scent most widely accepted as pleasing to the senses. It is also a natural odor neutralizer. Many people are sensitive to florals and are easily irritated by them. Picture your potential buyer sneezing all over your house!
- Inappropriate Photos, Posters, Etc. Take them down, put them away, pack them early. If you have lived in the Temecula Valley for any length of time it should be obvious that the average household has 2.5 children. Children that will be with their parents when they are looking at your home. Your son’s poster of two barely dressed girls making out is not appropriate. The child that may be moving into your son’s room is an 8 year old boy (true story). Newsflash… nude art, wives lingerie glamour photos, breastfeeding photos, maternity photos that are revealing or suggestive make most buyers extremely uncomfortable. Regardless of how silly you might think that is, uncomfortable buyers leave quickly and do not fully evaluate your homes potential for them.
- Be Gone There are always exceptions to this rule…but not as many as you would like to think. Having a pet, day sleeper, home office, etc. is not a reason to stay during a showing. The absolute best case scenario is that you stage the home and leave during the showing window. Ask the agent to text you on their way and when they leave if you are on a tight schedule.
P.S. And if you really want to stack the odds in your favor…Hire a professional Realtor! Visit us at www.teamgreer.com
Visit us this Saturday, March 19, 2011 @ 36750 Avenida Verde, Temecula, CA We’ll be here from approximately 2-5pm relaxing in this gorgeous custom home with breathtaking views of the surrounding mountains, hills and valley. This is a completely fenced 5+/- acres with privacy gates on all paved roads close to town. This single story home is highly upgraded with 3 bedrooms, 2.5 baths PLUS a detached casita. Stop by and take a peak!
(951) 522-6308 / (951) 522-0518