Imperial County CA Home Loan Types January to June 2011 in Imperial Valley real estate
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Frederic Din, REALTOR(r) and your Imperial Valley Housing Specialist reviews the home loan and mortgage types used in the first half of the year throughout the Imperial Valley. These home loan and mortgage types cover all cities throughout the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber, Holtville, Westmorland, Calipatria, Seeley, Niland, and other surrounding areas.
Let me know what you think about the video by commenting below. Do you know where I was in the driving part of the video, let me see your guesses. Feel free to LIKE or forward and share this information with your family and friends using FaceBook, Twitter, and Google+Plus.
Various loan types are used in purchasing real estate throughout the Imperial Valley, some loan types are listed below as well as some informational terms and some local nation and regional lenders.
FHA, VA, USDA, Conventional, Cash, Private note, Seller carry back, home loans, mortgage, HUD, Wells Fargo, Bank of America, Union Bank, Prime Lending, Wallick & Volk, Rabobank, Sun Community FCU
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Real estate ideas, news, and tips for Imperial Valley home buyers and sellers
10/11/2011
Imperial County CA Home Loan Types January to June 2011 real estate
09/17/2011
Imperial Valley El Centro CA houses for sale highest and best offer question and answer
1. Consider increasing your sales or offer price
2. Consider revising your closing cost and concessions
3, Consider revising your inspection period and contingency time frame
4. Consider increasing your earnest money deposit
5. Consider using a different type of loan or making a larger down payment
While any or all of these items won't guarantee your offer will be accepted they are items the seller looks for when reviewing multiple offers within the same price range.
Are you searching for a home in the Imperial Valley? I can help you see and make an offer on any home available for sale.
I'd like to hear from you so enter your comments below or like the video and comment on it too.
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09/03/2011
Buy a Home with No Down Payment Three tips to buy a home video
Hello Imperial Valley Press readers, please comment or ask questions below. Buy a home with no money down, how to buy a home in todays market with 100% financing, three tips for buying a home without any money down by Frederic Din "your Imperial Valley Housing specialist" Imperial homes for sale - questions or comments, please add them below.
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08/12/2011
Comparing real estate using price per square foot is inaccurate
Price per square foot is not an accurate Imperial Valley home buying method for determining real estate values. Comparing real estate using price per square foot is inaccurate.
Imperial Valley real estate listings, info & photos on your cell phone, text GOTO IVREO to 95495
As a REALTOR(r), I have seen countless home buyers and even fellow agents who use the price per square foot as a method of trying to determine market values. I’m very sorry to have to say this, however this method is a very poor way to review and analyze property values.
Why do I say this? I’m a real estate agent who performs property valuations as part of what I do as a REALTOR(r). This means banks, lenders, insurance companies, and investors rely upon my expertise in the Imperial Valley real estate market to help them determine what value ranges their property has. I evaluate about 100 properties per month in addition to my real estate listing and sales business.
Now back to the topic at hand. There are many reasons why I say using price per square foot is a poor way to analyze value but lets start with the individual homes themselves. If you look carefully, a typical house and its characteristics are basically broken down into one of four distinct categories.
- Economic – this category takes a look at building a home in the most cost efficient manner possible. Perhaps the materials used in constructing a home in this category would be cheaper or less expensive than homes in other categories. The goal is to deliver a home that would be affordable to buyers in a lower income bracket, an economical home. Typically materials used to build a home in this category would be a lower end or perhaps the lowest grade for cabinets, flooring, lighting, plumbing fixtures, etc.
- Standard – this category takes a look at building a home that is a step up from the economic home. More than likely most homes in a given housing area or subdivision would fall under this category. You expect to see an improvement from an economically built home. Standard type homes may use building materials and construction items that may also be found in both the economical and custom home categories.
- Custom – this category takes a look at building a custom home, typically items you won’t normally see in either an economical or standard type home. The quality of construction materials used to build the home and the amenities inside are going to be different. For example, you may see a higher level of flooring, more detailed woodworking in the cabinetry, higher end granite or Corian counter tops and stainless steel appliances. Custom homes tend to be more unique and may have other architectural designs and characteristics that would make the home more expensive to build such as intricate roof lines and other materials used on the homes facade such as stone or brick.
- Luxury – this category takes a look at the high end home or the “creme de la creme”. These homes are built with the highest grade construction materials and fixtures. No expense is spared on anything and the amenities are boundless and may be enough to make your mouth drop. It’s not unusual to see luxury items such as home theaters that give The Movies a run for their money, indoor swimming pools, wine cellars, libraries, and indoor sports facilities.
As you can imagine any home you see is likely to fall somewhere in between these categories types and hopefully these four distinct categories are enough to help you see why using price per square foot to determine the home value is not a good idea.
Lets take a look at an example of two homes of 1,450sf and both are five years old.
House A as the following amenities:
- Corian/granite type countertops, custom cabinets, and stainless appliances
- Custom tile shower in the master bathroom
- Tile flooring in the kitchen, living area, and hallway
House B has the following amenities:
- Formica countertops, regular cabinets, and white appliances
- Standard shower
- Carpets throughout the home except the kitchen/bath
How about a guess as to which home is going to be worth more using price per square foot?
The example above clearly shows you cannot take the average price per square foot and multiply it by the size of the home you are thinking of buying. There are just too many other variables involved with the characteristics of the home to make a generalization such as this. It simply does not work this way. The pricing per square foot gives you an average or median range, such as a historical account and may even show trends in the market, however it does not calculate market value.
The comparison above only touches one reason why cost per square foot is a bad indicator of value. There are other indicators to consider such as the homes location, near schools or public places (they bring the value down), any improvements, overall condition, age and updates to the home, lot size, one and two story, and a host of others.
I think its easy to tell that if Home A is located in the best part of town and Home B is not, the difference of the selling price is going to be even greater which would change the price per square foot between the two homes.
One of the best reasons for even looking at price per square foot of a home is to see what the market trends are in the area you’re considering. You can look at average price per square foot over a specific time frame and see if the overall market is increasing or decreasing, and thats it.
Smaller homes tend to have higher price per square foot costs than larger homes. Single story homes typically have higher price per square foot costs due to the larger foundation and larger roof required when compared to a two-story home of the same size.
Another less known fact about a smaller home having a higher cost per square foot than a larger one is there is less space to spread the costs of things such as the kitchen and HV/AC system that every home seems to have.
In Imperial Valley one of the other factors that can really skew the averages on the price per square foot of a home is how the GLA or gross living area (square footage) is calculated. In the MLS there is a big disparity on what agents include in the GLA of a home. Some agents include the un-permitted garage conversion or room addition into the GLA, and others do not. This can cause quite a fluctuation on how these numbers appear when doing an analysis on square footage.
As you can see, an un-permitted garage conversion will have an impact on the overall living area and when you mix these figures together it makes an apple to apple comparison that much more difficult.
I have seen many buyers agents over the years try to present a case as to why their clients offers is fair, however when they start talking price per square foot and after my eyes have glossed over, I usually end up giving them a lesson in proper market valuations.
As for buyers, they are still buying homes that speak to their needs, including their emotional ones.
Remember, a home is more than a stat, you have to love your home.
I look forward to hearing from you and helping you buy your Imperial Valley home today.
Imperial Valley real estate listings, info & photos on your cell phone, text GOTO IVREO to 95495
07/31/2011
Buy a $150,000 home for only $750 down!
Buy a $150,000 home for only $750 down!
by Frederic Din, REALTOR(r), your Imperial Valley Real Estate and Housing Specialist.Find out more information by texting GOTO IVREO to 95495
Did I get your attention? If you’ve been sitting on the fence about buying a home, thinking that prices are going to go lower, or whether your a first time home buyer or not, now is the time to pay attention and buy a home. You can buy a $150,000 home with only $750 out of pocket! How is it possible? We’ll keep on reading and let me educate you.
There is a grant program (yes, it’s a grant which means you do not have to pay the money back, it is a FREE Money Program for Imperial Valley California home buyers who make less than $84,500/year), which can used to help your closing costs or down payment.
In the headline I used an amount of $750 out of pocket, which is equal to 1/2% of a sales price of $150,000. The typical FHA (Federal Housing Administration) loan has a 3.5% down payment requirement, however with the grant program you can use the 3% toward your down payment and with my assistance as your REALTOR(r) to help negotiate the seller to pay your mortgage and home loan closing costs, so you can buy a home of $150,000 for only $750 out of pocket. This means $4,500 is being used as a grant to pay most of your down payment and the home seller will pay your home loan costs.
Can you scrape together $750 to become a homeowner? I think most serious home buyers could manage to get that sum of money put together rather quickly, especially if they knew they could buy a home now.
Find out more information by texting GOTO IVREO to 95495
There are some requirements and qualifications you have to meet like making under $84,500/year in income, however they are a piece of cake for serious people looking to buy a home.
Instead of going over the requirements and qualifications in detail, I’m going to ask you to contact me if you’re serious about being a homeowner and if you’re serious about buying a home this year, especially since there is FREE Money Available for you, those who are Imperial Valley California Home Buyers.
Simply comment below regarding this home buying grant program.
Feel free to call and ask me about the FREE Money Program and I will give you the information you need to make the right decision about buying a home with very little money out of your pocket. If you happen to get my voice message, please leave your name, phone number and a message asking about the Free Money Program so I know you saw my information.
You can also email at info@ivforeclosures.com please make sure you include the words Free Money Program in the subject line or somewhere in the email body.
Remember, when you contact me to give me your name, phone number or email address so I can contact you back, if you leave something out, it makes it very hard for me to reach out to you, I know you understand.
I look forward to hearing from you and helping you buy your Imperial Valley home today.
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
To learn more about buying your first home, check out my How To video calledhttp://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going toForSaleByFred.com, GetRealWithFred.com, ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro homes for sale - Brawley homes for sale - Imperial homes for sale - Calexico homes for sale - Heber homes for sale - Imperial County homes for sale - Imperial Valley homes for sale - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
06/21/2011
So what about the local Imperial Valley real estate market anyway?
So what about the local Imperial Valley real estate market anyway?
by Frederic Din, REALTOR(r)
View listings & photos on your phone, text GOTO IVREO to 95495
It's no secret and it's been all over the news! If you haven't heard about it, then you may have been vacationing at some exotic locale without news or internet access, or perhaps you've desensitized yourself to any real estate news, or maybe, just maybe you don't really care.
A recent May 31, 2011 CNBC News article headline reads "'Double-Dip' in Housing Prices Even Worse Than Expected" and says, "US single-family home prices dropped in March, dipping below their 2009 low, as the housing market remained bogged down by inventory and weak demand...", the link above takes you to the entire story.
Another article from June 20, 2011 found on The Patch headlines "Housing Market Still a Challenge for Both Buyers and Sellers" says "...homes continue to sell if priced right...", the link above take you to the entire story.
So, what about the local Imperial Valley real estate market, how are we doing?
In talking with people all over the Valley, I've heard stories from all across the spectrum, from those who are facing foreclosure, to those who are doing a short sale and those who are struggling just to keep up with their mortgage payments, however the same type of sentiment exists, "with the economy being so bad..." and "...its hard to find work and keep a good job...", it can seem like its all doom and gloom.
For some, the doom and gloom is nothing but a large cloud on a windless day, it seems to linger and those simply need hope, a reason to continue moving forward, a silver lining in the clouds so to speak.
While I don't claim to have all of the answers, I can speak with authority of what is taking place in my local real estate market. As an Imperial Valley real estate expert, I see the silver lining, the hope, and the passing storm that seems to linger, I see that proverbial light at the end of the tunnel.
Will we see the lofty and crazy high home prices from just five years ago in the near the future, probably not. Will we see some steady growth or incremental growth in home prices within the next few years? Absolutely! As a matter of fact, we are already starting to see signs of stabilization and perhaps the end of the declining real estate market.
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
Since June still has a few more days, I did a three month search of sold properties in the Imperial Valley, covering residential single family properties, condo, and town-homes. The analysis covers the months of March, April, and May 2009, 2010, and 2011.
Year # Sales Ave Price Median Price Days on Market (DOM)
2009 423 $128,759 $128,000 67
2010 370 $129,158 $129,400 39
2011 326 $132,018 $132,000 57
As you can see, the three month block of home sales show a steady increase from the low of 2009, which contradicts the CNBC story since they are looking at things on a national level. Real estate is local, local, local and is even neighborhood based.
I am seeing stabilization in many areas throughout the Imperial Valley while other areas are still showing signs of weakness and pricing declines.
How do I know this? What you may not know is about thousand people each year use and trust my real estate evaluation skills and the best way to show their appreciation is to pay me for my advice. These people include big and small companies, as well as individuals, banks, credit unions, lenders, insurance companies, and private investors.
I see first hand through these mini-appraisals, or BPOs and property evaluations what real estate pricing trends are taking place throughout each city in the Imperial Valley.
This is one of the main reasons my clients are successful in getting their offers accepted by knowing what is taking place in the market and analyzing their offer against the other homes on the market.
Obviously there are sellers who do not want get involved with financing offers and would rather have a cash offer or large down payment conventional financing versus an FHA, VA, or USDA loan, however knowing what the market will accept is a big help to clients everywhere.
In closing I have to say its a great time to buy a home, whether you're a first time buyer or a seasoned investor, a someone who is looking to trade-up to a larger home, or even a downsizing, the market mix of low home prices and low mortgage interest rates make this a great time to get off the fence and start owning your home as opposed to renting and paying somebody else's mortgage for them.
To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.com, GetRealWithFred.com,
ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
05/29/2011
Homes for sale in foreclosure
Homes for sale in foreclosure by Frederic Din REALTOR(r)
See Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
What are homes for sale in foreclosure? They are bank owned or REO (real estate owned) properties in which the bank has taken the ownership of the home in the bank or lenders name.
The process in which a home goes into foreclosure is and can be a lengthy one, especially in judicial foreclosure states, however Imperial County or Imperial Valley California is located in a non-judicial foreclosure state, which means you don't have to attend a court hearing for your foreclosure.
California is a self-help state which the note and deed of trust most residential property owners get when they finance the home gives the specific details as to what happens when a default occurs (default missing payments).
Typically banks and lenders will beginning contacting you once your "grace period" or late charge period is over, which varies amongst lenders but say its 10-15 days. After that time frame your lender will start calling you and reminding you about your mortgage payment.
If the time frame is within three weeks, your lender may send you a letter requesting you to contact them and letting them know when your payment will be made. Should you miss a payment in the calendar month, your lender may report the missing payment on your credit history by sending a negative payment notice to the credit agencies, TransUnion, Experian, and Equifax, therefore aside from a late charge added to your payment, you will have a negative late mark on your credit report.
Typically during the time before two or three missed payments, your lender will send you a notice stating they intend to foreclose on the property by sending a Notice of Default, which is usually recorded with the county records office around three missed payments, however the time frame can vary.
Often times homeowners in this late payment stage will try to modify or sell their home through a process known as a short sale, which means they will sell their home for less than the amount they owe on the mortgage and the payoff to the bank or lender will be short (hence the term short sale), it has nothing to do with timing or length of the sale process. A short sale will result in a loss to your bank or lender since they have to agree to accept less than they are owed to clear your debt. The homeowner has to have a hardship in order to qualify for a short sale.
Short sales are often referred to homes for sale in foreclosure since the lender may continue the foreclosure process during the short sale. If the lender accepts any payments or a partial payment the foreclosure process stops and the foreclosure clock is reset, which is why most lenders who are in the foreclosure process will not accept any payments unless its a full mortgage payoff or a short sale.
If the lender does not receive a favorable market value for the sale, they may not approve the short sale and continue with the foreclosure process, which can take an additional two to three months to process.
The final state of a home for sale in foreclosure is the Notice of Trustee Sale, which is the sale by the lender to the general public at an auction typically held at the County Court house in El Centro 939 W Main Street. The auction times vary and are usually either at 2pm or 3pm, depending on the number of homes being auctioned at the time.
The Trustee Sale auction is not your typical auction, the lender sets the opening bid price and many times the amount is more than the home is worth which means nobody ends up bidding on the home and the home goes back to the beneficiary which is fancy speak for becoming bank owned.
If an attendee at the Trustee Sale auction would like to bid on a home for sale, they are required to show proof of funds by a cashiers check for the amount of the bid or more. Typically settlement (the closing of the sale) will take place within a short time after the auction is conducted and all sales are cash sales, no financing is eligible.
Those who bid on these Trustee Sale auction properties need to conduct their research before making bids on the property to ensure they are buying the note in first position or the first mortgage and not a junior or subordinate lien. The reason you want to research to deed history and outstanding liens is if the bidder buys a second or third mortgage they need to pay off the first mortgage to gain control of the home, which can be very costly and counter productive.
Ok Ok so perhaps an auction sale is not for you but I thought to share the process with you.
See Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
Most home buyers choose to buy a home at one of three stages, even through there are more than three stages, however these are the most common home seller stages in todays market.
1) The regular market sale seller - these sellers have equity in their home and are not in distress, they can sell their home without needing to short sale or being in foreclosure. Often times these sellers are not in a hurry and will wait a longer period to sell their home and get the offer they want. These homes can be in a variety of condition however most are owner occupied sales and the owners live in the home and are taking care of it.
2) The short sale seller - these sellers owe more on their mortgage than the home is worth, they are upside down and have no equity. As we discussed earlier, these sellers need their mortgage lender to approve the sale in order to sell and typically other conditions exist in the sale terms. The short sale sellers home condition can vary depending on the situation and if the owner still lives in the home. Most short sale sellers will not make any repairs or pay for any repairs or inspections since they are not making any money on the sale of their home.
3) The bank or lender seller - these sellers are financial institutions or banking entities which have foreclosed on the home and are now in a position to sell the home to recover some of the monies owed. The bank or lender has taken the loss against the home loan and is going to sell the home to get some of the money owed to them back. The condition of bank owned homes can vary depending on the bank and the situation. Most bank sellers will keep the home in average to good condition so it can be financed and sell easily, however other times the bank will not make any repairs and sells the home "as is", which means it may not be financed and in this case the bank will only consider cash offers.
Each seller has one goal and one goal only, to get the most money for the home in the least amount of time with the least amount of costs or repairs made.
Knowing these facts can help you, the Imperial Valley home buyer who is looking at homes for sale in foreclosure.
To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.com, GetRealWithFred.com,
ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
05/22/2011
Imperial Valleys Cool Pool Homes for Sale
Imperial Valleys Cool Pool Homes for Sale
by Frederic Din, REALTOR(r)
During the years I've been selling real estate in the Imperial Valley, many clients have asked about homes in the Imperial Valley that have pools and as hot as it gets here you would think there would be more homes with pools for sale locally but there simply isn't. I mean it gets over 100 degrees beginning in late May and runs through late September, more or less, thats HOT for a long time.
How much do pools cost? Depending on the type of pool you build, as well as the size, the pool amenities that go with them, you can expect to pay anywhere from $25,000 on the very low side to upwards of $80,000 or so. The average pool costs around $40,000 to build. Does a homeowner ever recover the cost of building a pool? Yes and no, as it depends on the home, the type of pool and moreover the location of the home with the pool.
Is it cheaper to buy a home with a pool already built-in even though the pool is damaged or needs work? Absolutely, if you want a pool and have some additional resources to invest into your home, then a home with an existing pool is well worth the extra hassle that may come with financing just to have one in place. Replacing pool equipment and repairing the pool will be much less expensive than building one from scratch, so you can potentially save thousands on buying a home with a pool already in place.
What about homes for sale with and without pools, whats the better deal?
The first few months of this year, from January through May 21, 2011, the Imperial Valley has had 62 homes with pools sold with a median size of 1,574sf and a median sales price of $120,500, these are median numbers.
By contrast, during the same time frame, there were 413 home sales without a pool and they had a median size of 1,577sf and a median sales price of $135,000.
Wow, did anyone else catch that? The median sales price of homes without a pool is higher by nearly 12% than homes with pools. Granted the number of homes with pools was only 13% of the total home sales of 475 for the first four 1/2 months of the year valley wide.
So how many pool homes are currently on the market versus non-pools as of this date, does anybody else want to know?
Currently there are a total of 661 homes on the market, some of these are older listings, so to level the playing field, I am only counting homes on the market after June 30, 2010 in all status categories except SOLD, expired or withdrawn/cancelled, so removing the older stagnant sales, there are a total of 606 homes on the market in all categories, including ACTIVE, back-up, contingent and pending.
Out of the 606 homes on the market a total of 63 homes have a pool, which is about 10% of the homes.
Does the home demographic change in this segment of homes on the market with a pool versus the non-pool homes? The median size of these homes is nearly 2100sf with a median listing price of $161,500, which is significantly larger than the last years pool sales.
However the non-pool homes carry a similar trait to last years non-pool home sales, this year the home size is approximately 1600sf with a median listing price of $135,000 which mirrors last years home sales.
What does this tell us about pool homes in the Imperial Valley real estate market?
This year it seems as if the homes with pools are larger and are a bit more expensive, however the homes without pools remain within the same price range as they did last years without a pool.
What does this mean for you and buying a home with pool? There are currently 25 homes on the market with pools in the Valley as of today ranging in price from the high $40,000 for condos with a pool in the community to a home priced at $1,500,000 with a pool out in the country of El Centro on over 10 acres.
Yes the range is wide however the median listing price of these homes with pools is $135,000 with a median living space of 1,700sf. A total of eight homes (8) are bank owned foreclosures while eleven (11) of the homes are listed as short sales. The remaining six (6) homes a not bank owned or short sales.
Does anyone want to go swimming? Dive on in and comment, I would love to hear from you.
To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.com, GetRealWithFred.com,
ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
05/09/2011
Imperial Valley Real Estate market slight improvement in first quarter 2011
Imperial Valley Real Estate market slight improvement in first quarter 2011
by Frederic Din, REALTOR(r), real estate agent, your Imperial Valley Housing Specialist
The Imperial Valley real estate market better known as the El Centro, CA MSA (metropolitan statistical area) showed a slight improvement from the same period in 2010 in overall sales during the first quarter of 2011 in the period from January 1, 2011 to March 31, 2011.
During the first three months of the year, there were a total of 303 sales tracked with a median sales price of $135,000, an increase of almost 3% and an average sales price of $133,956 with an average days on market of 47 days. Days on market or DOM tracks the time from when a property gets listed until an offer is accepted and the active status is changed.
By contrast during the same period in 2010, there were 299 sales tracked with a median sales price of $131,000 and an average sales price of $129,239 with an average days on market of 42 days, which is relatively the same.
Does the slight improvement in overall sales prices mean we have hit the bottom and are beginning an upward trend, or is this just merely a slight market swing?
The coming weeks and months will prove the theory regarding home prices and their trends, but what do you think? Chime in, comment and let me know if you think prices are going to remain at current levels or if you believe they will rise or fall? If you have a comment, make sure you let me know why you believe housing prices will be rising or falling, I'd like to find out what you think.
To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.com, GetRealWithFred.com,
ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO
04/21/2011
Buying Your First Home Doesn't Have to be Taxing
Buying Your First Home Doesn't Have to be Taxing
by Frederic Din, REALTOR(r), Imperial Valley Real Estate Agent
member of Imperial County Association of REALTORS(r), California Association of REALTORS(r) and National Association of REALTORS(r).
I'm sure you've heard the stories from your friends and family members, story after story about how hard, challenging, and ultimately rewarding buying your first home can be, however it doesn't have to be taxing. As a matter fact, for most would be homeowners, buying a home is going to provide a new tax deduction, far exceeding the standard deduction, however this article is not about taxes and does not provide tax advice. Any reference to tax statutes, deductions and exemptions are talked about for your educational and informational purposes only, you need to consult your tax preparer or CPA before making any tax type decisions.
Earlier this week thousands, if not millions of tax paying Americans filed and paid their Federal and State income taxes including yours truly. Most of these people are self-employed and owe federal and/or state income tax. As an independent contractor, my check doesn't get nickeled and dime'd by Fed, State, FICA, SDI and a host of other income type tax acronyms regularly associated with a W2 wage earner employees paycheck.
On the other hand owning a home allows you more tax deductions, including but not limited to points and fees you paid when you buy a home, as well as mortgage interest and property taxes, and a few others but make sure you check with your tax preparer or CPA before taking such deductions.
Many first time home buyers I speak to who pay a certain amount in rent also want the same mortgage payment since renters don't often get much of a tax incentive for being a renter, although there are some perks for renters, they are much smaller and mostly insignificant when compared to being a homeowner.
Over the years I counseled many renters into the financial benefit of being a homeowner and have found the following basics to be true.
1) Home ownership provides a long term and long lasting foundation to wealth building. You see I said long term, not a few years but more than ten years typically to fully see the benefits of owning a home.
2) Home ownership provides a much needed tax haven for most home owners. Yes, there are certain income and tax brackets on both sides of the spectrum that may not see the financial rewards of owning a home versus renting, but for most people it does.
3) Home ownership provides community stability and strengthens neighborhoods, cities, and even counties by providing a stable and solid property tax basis to provide funds for needed infrastructure such as schools, safety, hospitals and a host of other services we take for granted but come from our property tax dollars.
4) Home ownership provides a way to strengthen family and overall is responsible for families coming and staying together.
5) Home ownership provides a means of contributing to the neighborhood through pride of ownership. You know what I mean, those areas of town where all of the lawns are green, well kept, flowers in bloom, the home neatly and nicely painted.
As I've talked about in the past and will continue to encourage and talk about is how would be home buyers can educate and prepare themselves for their biggest purchase ever, a home, by following these three simple steps:
A) Make sure you get credit-approved or pre-approved first before looking at homes. This step will review your income and expenses, such as credit cards and car payments to find out exactly home much of a mortgage payment you can handle on a monthly basis.
B) Make sure you have or save some money to go hand-in-hand with your pre-approval. Money is needed for down payment, closing costs and/or home repairs. You can find mortgages that do not require a down payment and you can negotiate a home purchase where the seller pays part of your closing costs, but you will more than likely need to have something put away to make sure.
C) Once you have some money and are pre-approved, find and identify your home buying zone. This is probably where people search too far and too wide, meaning they begin looking at homes in Calexico to Calipatria, however you should narrow down your choices to school districts, work zone, and shopping districts which are important to you. With gas at $4.19 a gallon, driving long distances can be huge cost, so plan accordingly and you will be much better off in the long run.
To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.com, GetRealWithFred.com, ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO
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