Rancho Santa Fe Real Estate News / Help for Buyers and Sellers

Shopping for Your Rancho Santa Fe Real Estate Loan

Rancho Santa Fe Real Estate Loans have become part of a worldwide mortgage market and mortgage lending is impersonal and competitive. When you shop for the best loan don�t pay too much attention to who is originating the loan. Instead focus on interest rate, points, processing costs and whether you want a fixed rate or an adjustable rate loan. The reason for this is that more than likely, your Rancho Santa Fe real estate loan will be sold to one of the organizations made up of what is known as The Secondary Market.

Rancho Santa Fe Real Estate Cycles

One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Rancho Santa Fe market does not necessarily move in tandem with the stock market or the economy as a whole. Rancho Santa Fe is a unique situation.

When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Rancho Santa Fe is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Rancho Santa Fe market will take the lead.

Rancho Santa Fe Homebuyers Quandry

When you find the home you want to buy you may make an offer contingent upon the sale of your existing Rancho Santa Fe. In a Seller�s Market, offers with such contingencies are not well received because the seller must remove his home from the market while you sell yours. However there are times when this kind of offer is successful, even in the Rancho Santa Fe market. A backup strategy might be to put in your offer with a very long escrow giving yourself time to sell your home. Very few sellers will accept these kinds of contingencies or long escrows if your house is not already on the market.

Bitten by the Rancho Santa Fe Home Improvement Bug?

Money isn�t everything however so that if the most important consideration for remaining in your Rancho Santa Fe home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Rancho Santa Fe house torn up for weeks at a time makes your blood run cold, it really doesn�t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.

Building Rancho Santa Fe Home Equity

As a Rancho Santa Fe homeowner you have the right to pay more towards the principle loan amount each month. Let�s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Rancho Santa Fe home equity, you gain $3,600.00.

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Rancho Santa Fe home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about Rancho Santa Fe home appreciation values in your area, please call or E-mail me today.

When Rancho Santa Fe Does Not Sell

Let�s say a home is in excellent condition but simply messy. The cat box needs changing, the dog dish is a mess, the dishes haven�t been put into the dishwasher and the beds are not made. Should these conditions affect the price of the Rancho Santa Fe? No, but they do. Take two identical houses next door to each other and priced the same. The sparkling clean house will sell much faster than the messy house and the messy house will more than likely sell for a lower figure. This is true of Rancho Santa Fe as well as real estate nationwide.

When a home does not sell, the owners tend to think that the REALTOR didn�t do a good enough job of promoting the property. There is a difference among agents and brokers and some will promote a property more than others. However, the main and most important method of promoting Rancho Santa Fe for sale is listing it in the local MLS.