Sacramento Real Estate Explained: Home Buying Process

Hi, I'm Doug Reynolds.
I'm a Realtor in the Greater Sacramento Area and have been a full time agent since 2006.

In This Video, i talk about all the steps in the home buying process.  This is a very quick overview but it can give you some knowledge and direction if you are just starting to think about buying a home.  Ultimately, you want to find a great Real Estate Agent that is experienced and can walk you through this entire process from start to finish.

So, take a look at the video to understand the overall process of purchasing a home.


This video should provide great info if you are getting close to buying or selling and want to educate yourself.

Connect with Doug Reynolds Real Estate via Facebook, YouTube, and Follow his Blog.

clear skies,

Doug Reynolds

Realtor

916-494-8441

         

www.RealEstateWithDoug.com

College-Glen Real Estate Update Q1 2012 - Sacramento, Ca - College Greens, Glenbrook

Real Estate Agent, Doug Reynolds, is a resident and specialist of the College Greens/Glenbrook neighborhood in Sacramento, Ca.  This video details the 2012 first Quarter Real Estate statistics in the neighborhood.  He also shows a comparison to last quarter and the quarter from one year ago.  In 2012 Q1, the neighborhood saw an unusual spike in distressed bank owned properties.  These poor condition sales drove down the median price.  But don't be fooled, the neighborhood is currently experiencing a Seller's Market.  The homes that show well, are marketed well and priced right are getting multiple offers, over list price in just a few days.  A good quality 3 or 4 bedroom house in the neighborhood is now selling between $230,000 and $250,000.  And there appears to be some appreciation still to come as well look into Q2.

Call or email Doug Reynolds if you have any Real Estate needs in the College Greens/Glenbrook neighborhood. www.CollegeGlenRealEstate.com 

clear skies,

Doug Reynolds

 

www.BHGshortsales.com

Don’t Forget To Save Money On Your Taxes This Year

Homeowners should be aware of these tax breaks that they may be eligible to receive. Consult a Certified and licensed Tax Professional.

• Mortgage interest: Homeowners are generally entitled to reduce their taxable income by the amount of mortgage interest they pay, as long as they itemize deductions on their tax returns. 
• Private mortgage insurance: Homeowners who are paying PMI likely will be able to fully deduct the amount, as long as their adjusted gross income is $100,000 or less ($50,000 for married taxpayers filing separately).  Borrowers with incomes above $100,000 may qualify for a partial deduction.
• Energy-efficient home improvements: If windows, doors, or skylights that meet the requirements of the federal Energy Star program were installed in 2011, homeowners can get a tax credit equal to 10 percent of the product’s costs.
• Points: The charges a borrower paid in points to get a mortgage are generally deductible if it was a first mortgage on the property.  In the case of a refinance loan, all or some of the point charges might be deductible, but it gets complicated.

·         Property taxes: The amount paid in property taxes is deductible as long as it is based on the assessed value of the property.  If the mortgage company collects money for property taxes, the amount actually paid should be on the 1098 form lenders send out each January.

clear skies,
Doug Reynolds
 
www.BHGshortsales.com

 

Pay Off Mortgage Early To Save Money

By Marcie Geffner, Associated Press

Paying off your mortgage might sound like an ambitious plan, especially if you have recently refinanced into a 30-year term. But it's still smart for homeowners to give some serious thought as to how they'll pay off their home loan; if not in 2012, then sometime.

An early mortgage payoff can net substantial interest savings compared to making scheduled payments for 15 or 30 years.

Paying more quickly reduces your housing cost, freeing up that money, says Ronit Rogoszinski, a wealth adviser at Arch Financial Group in Garden City, N.Y. You'll still be responsible for property taxes, homeowners insurance, and home maintenance and repairs.

Some might argue for allocating more cash to investments instead of eliminating low-cost debt, says Alfred McIntosh, principal of McIntosh Capital Advisors. But he encourages homeowners near retirement age to be mortgage-free.

To pay off your mortgage early:

- Add an extra amount, say $50 to $500, to each monthly payment, Rogoszinski says. Don't sacrifice necessities, such as sustenance or medical care.

Some homeowners add enough to their monthly payment to make one extra payment each year. McIntosh explains the math: Divide one payment by 12 or multiply one payment by 10 percent, and add that to the amount each month. Make sure the extra money is applied to principal, not interest or your escrow account.

One way to make that extra payment less painful is to make payments every two weeks instead of every month. The result is 26 half-payments instead of 12 full payments. McIntosh says biweekly payments can knock approximately six years off a 30-year term.

clear skies,

Doug Reynolds

 

www.BHGshortsales.com

History of Mortgage Interest Rates

By Marcie Geffner • Bankrate.com

Mortgage interest rates have been pretty attractive for a long stretch of time. So long, in fact, that many homebuyers and homeowners might not realize that rates haven't always been this low. Mortgage interest rates in the 4-percent range were unheard of until 2010, and rates in the 5-percent range were unknown prior to 2003, according to Bankrate.com surveys through the years and a chart of monthly average mortgage interest rates tracked by the Federal Reserve since 1971.

Prior to 2003, higher mortgage interest rates were the norm. In the early 1970s, rates hovered in the 7-percent range and spiked up above 9 percent in late 1975, late 1976 and most of 1978. At the end of the decade and throughout the 1980s, mortgage interest rates rarely dipped lower than 10 percent.

In the early 1980s, mortgage interest rates brushed the stratospheric highs of 18 percent and even 19 percent. Imagine trying to get a home loan with an interest rate of 18 percent. At that rate, the mortgage interest deduction would be a very lucrative income tax perk, but the monthly payment on a loan would be far more painful than a typical mortgage today.

During the 1990s, mortgage interest rates ranged from around 7 percent to roughly 9 percent for many years. It was only in 2000 that rates began to fall to earth. They held at less than 9 percent in 2000, less than 8 percent in 2001 and less than 7 percent in 2003.

Mortgage interest rates are an important factor in many major financial decisions. When rates are low, it can be a good time to buy a home or refinance an existing mortgage. When rates are high, it can be smart to pay off your mortgage. Rates should also be considered when deciding whether to refinance from a fixed rate to an adjustable-rate mortgage, take out a second loan or tap a home equity line of credit.

clear skies,
Doug Reynolds
 
www.BHGshortsales.com