In the digital age, we’ve gotten used to clocks and watches automatically adjusting for Daylight Savings, which ends early Sunday morning. But don’t forget to wind back any analog clocks or devices that aren’t connected to the internet!
Spooked about making a move this season? We’re here to offer you peace of mind and confidence in listing your home. Carve out some time today!
If you’re looking to shine a spotlight on your home, now is the time! Inventory remains low, with Santa Clara County experiencing a 30% decline in September year over year (see more in Number Talk), and San Mateo County dipping 17%. According to the National Association of Realtors, this tight market shows no signs of expanding anytime soon, which means sellers should expect multiple offers, bidding wars, and quick sales. If you need further proof, local homes are spending an average of just 20 days on the market.
At the same time, high interest rates and limited inventory aren’t deterring first-time home buyers, who continue to enter the market and are accounting for 29% of all sales, according to the same NAR report. Meanwhile, all-cash offers account for 27% of sales, allowing for a diverse range of purchasing options. In other words, you should have no problem finding a qualified buyer. And with more than 3 offers on average, you’ll probably have a tough decision to make. But that’s what I call a good problem to have!
These days, with the stress of pandemics and wildfires and uncertain markets bearing down, we could all use an escape from the world outside to focus on self care. A home spa is one way to bring more peace and tranquility to your life, and we have some tips for doing it right.
First thing’s first: You need the right tub — something you can crawl into for a deep soak at the end of a long day. While you’re in there, light up some eucalyptus-scented essential oil candles to put you in the mood to chill. And be sure to have a stack of fluffy Turkish white bath towels handy. As for decorations, keep it clean and keep it simple, adding plants or fresh flowers for pops of color.
If shutting out the world is your thing, I recommend ceiling lights with dimmers and “blackout” blinds for the windows. When I’m relaxing, I don’t want to know if it’s day or night. Working from the ground up on design, I’m a big fan of heated tiles and a wraparound steam shower. And because I’m usually exhausted by the time I hop into the shower, a wooden sitting chair is a must.
October has arrived, and it’s time to get your home into top shape with a little Winter prep, seasonal decorations, and curb appeal. So grab your pumpkin spice and dive into our Fall checklist!
Did you know a buyer can assume the balance on a seller’s home mortgage loan at their current interest rate? Well, if it sounds too good to be true, it might not be. We’re here to sort out the pros and cons.
The most obvious benefit to the buyer would be assuming a mortgage with a lower interest rate than what they could expect to get with their credit history. It’s a good concept for the times we live in, when the added costs of buying a home can be overwhelming for many people. The program is limited to loans from the Federal Housing Administration or VA, and the buyer must be ready and willing to throw in a down payment determined by the total cost of the home. You’ll also need an amenable loan servicer, or the whole plan might fall through.
Even if a buyer can swing it, they can only assume the current loan balance to get the lower interest rate. If the purchase price ends up higher than the loan balance, the buyer will need to take out a second loan to make up the difference — or come up with the cash. Either way, the numbers don’t add up, especially when we’re talking about deltas of hundreds of thousands of dollars. That’s why it’s difficult to impossible to find a loan servicer willing to accept a lower interest rate than they could get from a brand new loan to the buyer.
