Gary and April Greer, Century 21 Wright
Lic 01235358 / 01240571 * (951) 522-0518
Gary and April Greer, Century 21 Wright
Lic 01235358 / 01240571 * (951) 522-0518
– 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.
Posted in Mortgage Loan, Real Estate
Tagged financial, homeowner tips, mortgage, pmi, Real Estate
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 team4greer@gmail.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.
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 team4greer@gmail.com 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–
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 teamgreer@tarbell.com and request a free copy of our “Short Sale Report”.
Posted in HAFA, Real Estate, Selling Homes, Short Sales
Tagged Affadavit, Legal Circles, Real Estate
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 team4greer@gmail.com 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.