Here is an interesting article I found that talks about some of the things that we can expect to see happening…

This is the time of year when columnists either write about the major events of the past year or make predictions about the coming year. If you don’t know, I’ll let someone else tell you about 2009.

I’m far more interested in getting a jump on next year’s opportunities and discoveries. And, just as important, I want everyone to embrace 2010 feeling upbeat, confident and charged with energy. Things have been down so long that they just naturally have to be heading up. Absolutely!

So, I set out to make a list of all of those things that will be heading up next year. I was hoping to predict a rebound in both the economy and the real estate industry.

Read more: http://rismedia.com/2009-12-28/9-things-that-are-looking-up-for-2010/#ixzz0b4Ojz0Ka

Leave a comment and let me know what you think about the upcoming New Year and where you see things going for real estate, interest rates, gas prices, etc. in the Lodi / Stockton areas.

Make it a great day!

The mortgage interest paid on a home loan is tax deductible, as is the local property tax. If you get a fixed-rate home mortgage loan, you also can invest more wisely knowing your monthly mortgage payment, unlike rent, will not change substantially.

With mortgage loan interest rates as low as they are now, and expected to go higher in 2010, it might be a better idea to invest in Lodi real estate and Stockton real estate now more than ever.  Having a low interest assumable mortgage loan may become very attractive in the future.

Make it a great day!

4. Stop Calling Ads!

A word of caution – agents create ads solely to make the phone ring!  Many of the homes may have some drawbacks not mentioned in the ad, such as traffic noise, power lines or litigation in the community.  What’s not mentioned in the ad is usually more important than what is.

For this reason, be very careful when reading ads.  Remember, the person writing the ad is representing the seller, not you!   The most important thing you can do is have someone on your side looking out for your best interests.  Your own Buyer’s Agent will critique the property with an eye toward how well it meets your needs and will point out any drawbacks you should know about.

So, whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a Buyer’s Agent.  Then you become a client with all the rights, benefits and privileges created by this agency relationship, and you’re no longer just a shopper.  Did you know many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER?  These “great deals” go to those people who are committed to working with one agent.  When an agent hears of a great buy, who do you think they’re going to call?  Their client, for whom they have a legal obligation to work hard, or someone who just called and said “keep your eyes open for me”?  To get the best buy on a property, we always recommend you hire your own agent and stick with him or her.  As always, we do this at NO CHARGE to you, the client.

Well there you have it…my Most Important 4 Things Every Renter (Home Buyer) Should Know Before Purchasing Any Home.

Make it a GREAT DAY and HAPPY HOUSE HUNTING!

Randy

3. Don’t Be Pushed Into Just Any House

Your agent should show you everything available that meets your requirements.  Don’t make a decision on a house until you feel you’ve seen enough to pick the best one.  Go to the Multiple Listing Web site with your agent to make sure you are getting a COMPLETE list of homes for sale and not just the home that the agent wants to show you.  YOU be the ultimate judge.

In the late 1980’s, and as recently as 4-5 years ago, homes were selling quickly, usually a few days after listing.  In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house.  That was good advice at the time.  Today, there usually isn’t this urgency unless a home is drastically under priced, and you’ll know if it is.  But keep in mind, if you wait too long, there is always a chance of the house selling before your offer is submitted to the seller.  If you really like a house, get an offer written and make sure your agent includes the appropriate clauses to get you out of the offer, should the need arise.

Don’t forget to check the SCHOOL DISTRICTS of the area you’re considering if this is important to you.  Information is available on every school: class sizes, % of students that go on to college, SAT scores, etc.  You can get this information from your agent or directly from the school.

Ok, three tips down and one to go.  Stay tuned for Tip Number 4.  This one might surprise you…

2. Play the Game of Nines

Before house hunting, make a list of nine things you want in the new place.   Then make a list of the nine things you don’t want. I call this “NINE OF THIS AND NONE OF THAT”.  You can use this list as a scorecard to rate each property you see.  The one with the biggest score wins!  This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes.

When house hunting, keep in mind the difference between “SKIN AND BONES”.   The BONES are things that cannot be changed such as the location, view, size of lot, noise in the area, school district and floor plan.  The SKIN represents easily changed surface finishes like carpet, wallpaper, color and window coverings.  Buy the house with good BONES, because the SKIN can always be changed to match your tastes.  Consider each house on its underlying merits, not the seller’s decorating skills.  That is, if it’s occupied.

I hope you are finding this information helpful.  Stay tuned for Tip Number 3…

Make it a great day!

1. Don’t Get “Pre-Qualified”!

Do you want to get the best house you can for the least amount of money?  Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In years past, we’ve always recommended buyers get “pre-qualified” by a lender.  This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller.  Sellers are aware that such certificates are WORTHLESS and here’s why! None of the information has been verified! Often, unknown problems surface!  Problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurate and inaccurate and down payments that have not been in the clients’ bank account long enough, etc.

So, the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few minutes to a few days depending on your situation. It’s VERY POWERFUL and a weapon we recommend all our clients have in their negotiating arsenal.

******* Stay tuned for Number 2…

Erica is a very determined individual.  She suffered a rare spinal cord injury four years ago that left her unable to walk.  But if you ask Erica she’ll tell you that’s only temporary.  In fact, she refuses to get a handicap sticker or placard for her vehicle because she doesn’t look at herself as handicapped.  Only that she’s trying sports out now in a different way and her journey of life is following a different path for now.  I’ve never personally met a more inspirational person in my life.

Erica’s father, Steve Davis, of Realty World – Davis Homes & Properties in Lodi, CA is also inspirational to me as is Erica’s mother, Carol.  Being faced with their lives devoted to helping Erica with whatever they can provide has been more than challenging to say the least.  Steve and Carol bought a home in Carlsbad, CA to have Erica be closer to her rehab center was an expense as well as Erica’s monthly cost of the rehab itself along with all the many costs that go along with  having two homes, a business to run, etc, etc.

Please visit Erica’s websites at Help Erica Walk and Fit 4 Kili and learn more about Erica’s story and how you can contribute to her quest for creating an enriched life through enriching others that come in contact with her.

Erica will be making history next month when she becomes the first female paraplegic to climb Mt. Kilimanjaro in Tanzania in Africa.

You can be a part of her journey as well by donating towards Erica’s rehabilitation HERE.

Make it a great day!