Save dollars when buying a home is top priority. The acquisition costs of a home is where the homeowner not only increase their final profit, but also decrease their chance of losing the home for lack of funds.
The American Dream is still alive. People still want to lay down roots and have a place they can call their own. Maybe the continued increase of rent every year is the reason. Possibly there’s an addition child to the family. In either case stability is the driving force behind most home-ownership.
As in all purchases research is the key element to making a smart decision. When purchasing the biggest price-tag item doesn’t it make sense to have a plan? It does, and smart people make one before they go out and purchase a home.
Hit the target with plan
Is There An Easy Way?
Making a plan to purchase a home take time and money. You can make the planning process of buying a home easier because I have already done it for you. If you read the post I have written on; how to save dollars and find happiness with these 7 easy steps when buying a home you will have a leg up on the others.
The competition is tough in today’s real estate market. We are in a Econ-101 market where Supply vs. Demand is the driving force. There are not enough homes available for home-buyers wanting to buy a home. Because of the lack of supply it is important more than ever to have a plan that will your offer acceptable to the sellers.
It’s not rocket science, however, it does require thought and preparation before your offer is accepted by the home sellers. I have written a plan for you that will save dollars and find happiness with these 7 easy steps if you follow them.
Click on the link and read this article. Read more…
If you would like to discuss this further in details you can do so by calling/text/emailing me. While you are thinking about what is the smart way to purchase a home do these 3 items and you will be on your way to own a new home.
Call Cliff 650-346-7366
What To Do?
Take out your cell phone
Look up my number (Hint 650-346-7366)
Call me immediately
What Can I Expect?
When you call I will talk with you about what is most important to you in purchasing a home. I will answer any questions you may have about the 7 easy steps that will save you time and money. I promise I will do this for you without any costs or obligations. You see, I want to demonstrate to you that you want me to help you with the biggest investment you are planning on making. I believe that is a right that is earned not one that is done by trickery or pressure tactics. While you are thinking about it why call now?
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Prepared homeowner make more money when they sell their home. Before you talk to a Realtor about how to sell your home, here are 10-Top Musts that you should consider doing in order to maximize your profit.
You want to make as many easy and simple improvements that will increase your ability to get top price and make your home sell quickly too. The intentions is to make your home inviting to prospective home buyers as much as possible.
Listed here are 10-top inexpensive ways to fix-up your home for the current real estate market and make your home “pop”:
In today’s market prospective home buyers are looking for immediate love for your home. This is one of the main reason for being prepared before placing your home on the market for sale.
These 10-top inexpensive ways to improve your home will pay you back many times over if done correctly.
What you need to do is click this link, Read more…
What to do after reading this post?
Call me today 650-346-7366
There is an easy 3-Step Process to follow if you have any questions after reading how to prepare your home for sale:
1.) Take out your cell phone
2.) Look up my number (Hint 650-346-7366)
3.) Call me immediately
When we talk I will answer any and all of your questions you may have about selling a home and all that it entails. I am not a hard sale person. I am here as a resource. Of course I am looking to gain your trust so that you will hire me to represent your interests. However, I do so at no costs nor with any obligations.
If you wish to talk about your real estate needs trust assured that you can do so with me and I will be honest and candid with you. I may not tell you what you want to hear but I promise to tell you the truth.Read more…
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Help from USA
Welcome to the unofficial start of the holiday season! With October, we begin to see Thanksgiving and Halloween decorations, reminding us that Christmas is not far behind.
In keeping with the spirit of the season, I’ve included a funny Halloween story in this month’s Cliff’s Notes newsletter, plus an explanation of why we have fall colors.
Other fun content includes a light-hearted fly story, a description of how Google blew $1 billion this year, and a bunch of sage advice about health. For instance, you’ll learn about:
Slowing Alzheimer’s disease.
Tips for turning your heart healthy.
How pet health can save you money.
If you’re thinking about a real estate move before the holiday season, now is the time to take action. Please contact me at 650-346-7366 to get started. Please think of me as your resource center on real estate, which you can always count on to be in your corner and not let you down.
Talk with you soon.
Your friend in the real estate business,
Cliff
The Fly
On a particular afternoon as I was visiting my elderly aunt, a fly landed in my tea. I must have registered a look on my
The Fly
face, because immediately my attentive aunt said, “What’s wrong?”
“It’s nothing,” I said, not wanting to make her uncomfortable. She took great pride in the cleanliness of her home, and I felt it would embarrass her. So I thought I’d just find a discreet moment to empty my tea in the kitchen.
But my aunt was not naive, and she prompted me. “I can see that something is wrong.”
“Oh, it’s nothing,” I said, laughing lightly to soften the situation. “Just a fly landed in my tea.” “Oh, my,” she said.
But she rose and peered inside. “Oh, dear,” she said, shaking her head. Now I began to be embarrassed at how disturbed she was.”It’s no problem,” I assured her, putting my cup on the table.
“I’ll take care of it and be right back.” She took my cup to the kitchen, and returned after several minutes. I assumed she was making a new cup, but when she came back, she was empty handed. I raised my eyebrows questioningly, wondering about the tea.
Seeing my look, she sat down and patted me reassuringly on the knee, “He’ll be all right. I got him dried out and he flew away.” ~Cliff
Halloween Humor
A tourist in Vienna is passing Vienna’s Zentralfriedhof graveyard on October 31st. All of a sudden he hears music. No one is around, so he starts
RIP
searching for the source. The tourist finally locates the origin from within a grave. The headstone of the grave reads: Ludwig van Beethoven, 1770-1827.
The tourist listens for a while. He recognizes symphony music, but can’t identify the score. Puzzled, he leaves the graveyard to get a friend, an expert in music. When they return, they hear the music again. “I know that music!” says the friend. “It’s Beethoven’s Ninth Symphony, but it’s being played backwards!”
They turn and run to the caretaker’s house and bang on his door to wake him. They tell him what’s happening and urge him to come hear it for himself.
But the caretaker pats them on the arm and says, “Oh, it’s nothing to worry about. He’s just decomposing!”
October Quiz Question
Q: Why did the phlebotomist go to art school?
Everyone who texts, emails or calls in the correct answer by the last day of this month will be entered into a drawing for a $30 gift certificate to Starbucks
September Question
Q: What is a 10 letter English word for an item that is fast becoming obsolete and can be typed using only the letters in the top row of the keyboard?
A:Typewriter.
Congratulations to this month’s winner:
Melanie Reitzel of Pacifica
We Buy Houses: 415-805-6899—CASH—FAST—AS-IS
“Clothes make a statement. Costumes tell a story.” ~Mason Cooley
Google Blows $1 Billion
In just one financial quarter this year, Google “wasted” close to a billion dollars. But they weren’t spending it on new search algorithms. Instead, parent company, Alphabet, was spending it on “moonshot” ideas that may or may not pay off in the future.
The futuristic projects, include everything from seawater gas, to internet-beaming balloons, to solar-powered contact lenses. According to Astro Teller, head of Google X labs (I kid you not), “We try to steer X to be ‘responsibly irresponsible’ as we develop new products.”
In this way, Alphabet is following in the footsteps of old-time technology companies who used to devote significant budget to new and exploratory ideas, not simply incremental ideas that would make them more money in the short term, as many companies do today.
Those efforts in the past played a role in creating some of the 20th century’s most significant innovations. For instance, Bell Labs invented the transistor, the foundation of modern electronics. And Xerox pioneered the graphical user interface that allows us to navigate our computers visually, rather than typing in coded commands.
Are You Ready For A Job Loss?
Any of us could lose our jobs at any time for many different reasons. Are you prepared? Here are three pieces of advice from financial experts:
Have at least six months’ worth of living expenses on hand. To calculate that amount for yourself, take the following steps:
Create a list on paper. Down the left-hand side write all your fixed monthly expenses: mortgage or rent, insurance policies, car payments, medical expenses, etc.
Continue to list other major spending categories such as food, utilities, entertainment, gas, etc. These are called variable expenses.
Next to each item, list the actual amounts you spend for fixed expenses and estimates for the variable expenses. If needed, go into your financial records—your bank account, ATM charges, cancelled checks—to get a realistic estimate for your variable expenses. Add the total expenses, then multiply by 6 to get a six-month figure for your emergency fund.
In addition to your emergency fund, you should also have on hand an emergency credit card with the largest credit limit you can qualify for. Apply for this card before an emergency hits, as credit card companies are less likely to give you a line of credit when you are without income. Save this card for unusual expenses that go above and beyond your six months of padding.
As soon as the emergency hits, stay level-headed about finances. Immediately cancel unnecessary services, such as cable TV. Consider trading in the car with a high payment. Shop for less expensive food and drink. Many people who are used to a steady middle class income can come up with an extra $300 to $500/month, just by watching what they spend.
A martial arts student went to a teacher and declared he wanted to learn as fast as possible. He asked the teacher how long it would take. The teacher replied: “Ten years.”
The student, a bit impatient and not satisfied with the answer said, “But I want to master it faster than that. I will work very hard, practice 10 or more hours a day, if necessary. How long would it then take?” The teacher replied: “Twenty years.”
The student bowed and said, “Then let’s go at your pace, master.”
Slowing Alzheimer’s
Scientists searching for causes of and cures for Alzheimer’s disease may have discovered a source of protection. A Scandinavian study followed of 271 people ages 65-79 for seven years. They periodically tested blood levels for a marker of vitamin B12, as well as an amino acid called homocysteine.
At the beginning of the study, none of the participants showed signs of dementia. Over the following seven years, 17 participants were diagnosed with Alzheimer’s. The researchers found that study subjects who with more homocysteine had a 16% higher risk of developing the disease, while those with more of the B12 marker (which is associated with lower levels of homocysteine) had a 2% reduced risk of Alzheimer’s.
The indications seem to support the use of vitamin B12 in slowing the onset of Alzheimer’s. Vitamin B12 can be found in eggs, fish, poultry, and other meats, and is best consumed through a balanced diet, not vitamin supplements.
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Helping homeowners and buyers with their real estate needs since 1976!
“I’m so glad I live in a world where there are Octobers.” ~L. M. Montgomery
A Bridge To Success
In the 19th century, engineers doubted they’d ever be able to build a bridge across Niagara Falls. The problem: They couldn’t see any way to get a line from one side of the great gorge to the other. No boat could cross the river without being pulled over the powerful falls. The other common method,
Cliffs Notes on real estate… October 2016
shooting a line from one shore to the other with a bow and arrow, was impossible because the gap was too wide.
An engineer named Charles Ellet had an idea: He sponsored a kite-flying contest. The prize was $5 to whoever could maneuver a kite across the gorge and lower it to a height where someone on the other side could grab the string and use it to secure a line that joined the two sides. With that line in place, he could begin building the bridge.
Great ideas connect dreams with achievement—and often do so with simple tools.
It’s Never Too Late To Fix Your Heart
Adults who change their lifestyles can decrease their chances of developing heart disease later in life, according to a study conducted by the Northwestern University Feinberg School of Medicine. Researchers collected data on lifestyle
Heart running
habits of approximately 5,000 participants between the ages of 18 and 30, then analyzed the status of their health 20 years later.
They found that 25 percent of participants who had adopted at least one healthy habit (maintaining a healthy weight, not smoking, exercise, etc.) had cut their risk of developing heart disease. The 40 percent who had dropped one or more healthy practices had increased their chances of cardiac problems.
The takeaway: Dropping unhealthy habits at any age can have a positive effect on heart health, so don’t assume you can’t help yourself just because you’ve pursued the wrong path up until now.
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Imagine me as your real estate consultant. What I do for you is invest my time consulting, negotiating, and organizing the details of your transaction because I want you to have a superb experience that will cause you to want to introduce me to the people you care about most.
The purpose of my business is referrals, which means I must bring the type of value that makes you feel comfortable introducing me to the people you know that need my help.
After all, a referral is sending someone you care about to someone you trust. Cliff Keith
“If your objective is to make money, you are going to innovate, not invent.
But if your objective is to make the world a better place, you must invent,
not merely innovate.” ~ Anonymous
The Job You Save May Be Your Own
Your organization may not be able to avoid business downturns, but you can cut your chances of becoming a casualty. Here’s how to enhance your job security:
Know your organization’s mission. Understanding how you fit into your organization’s goals is crucial to making your own job “mission critical.” Work on tasks and projects that your organization can’t survive without.
Be hard to replace. Find out what skills are common in the workforce market and which ones are valued and rare. Keep your training up to date so the organization doesn’t have to look elsewhere for cutting-edge talent.
Ramp up your performance. Take on more projects, beat your deadlines, increase your results. Organizations weed out poor performers when they need to cut costs, not top-level contributors.
Why Leaves Change Color
Through the spring and summer months, trees convert sunlight to energy that is used in transforming carbon dioxide and water to carbohydrates, such as sugar and starch. Without that process we would have no maple syrup.
The chemical that makes this process possible is called chlorophyll, which has
Fall Leaves
a green color. Although leaves naturally contain yellow and red pigments, too, the amount of chlorophyll is so high in the spring and summer that it blocks all the other colors. It’s only when the process of energy conversion goes dormant that we see the other colors, as chlorophyll shuts down for the season. But there are other reasons for different color intensities in the fall.
Weather Affects Color Intensity
Temperature, light, and water supply have an influence on the degree and the duration of fall color. Low temperatures above freezing will favor anthocyanin formation producing bright reds in maples. However, early frost will weaken the brilliant red color. Rainy and/or overcast days tend to increase the intensity of fall colors. The best time to enjoy the autumn color would be on a clear, dry, and cool (not freezing) day.
Healthy Pets Save Money
We love our pets, but they can be expensive to care for, especially as they age. You never want to have to choose between your pet and your bank balance, so consider these simple tips for saving money while keeping Fido or Fluffy healthy and happy:
Get regular checkups. The money you spend on vaccinations, spaying/neutering, and routine medical care will pay off in preventing more expensive illnesses later.
Groom at home. Lots of grooming—brushing, washing, clipping claws—can be done on your own. Also learn to do the unpleasant tasks of cleaning ears and anal glands.
Get annual dental care. Talk to your vet about keeping your pet’s teeth clean and preventing infections. Dental problems are one of the leading causes of dog or cat health problems as they age.
Consider pet insurance.
Shop around for some insurance to cover medical care in the event of an emergency.
Cliff’s Notes on real estate…
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Q: Why did Miss Muffet need a road map?
A: Because she lost her whey.
This newsletter is intended for entertainment purposes only. Credit is given to the authors of various articles that are reprinted when the original author is known. Any omission of credit to an author is purely unintentional and should not be construed as plagiarism or literary theft.
Copyright 2016 Cliff Keith dba SF Bay Homes with Today | Sotheby’s International Realty. This information is solely advisory, and should not be substituted for medical, legal, financial or tax advice. Any and all decisions and actions must be done through the advice and counsel of a qualified physician, attorney, financial advisor
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Do I Really Need Private Mortgage Insurance (PMI)?
Not necessarily does every home buyer need to purchase PMI. It will depend on whether your own lender requires it or not. This is decided by the Loan to Value ratio aka down payment. Lenders love to tack on PMI as it increases their bottom line and it coast you more money. Likewise, it is very difficult to remove from your loan.
PMI costs you money
What is PMI?
Private mortgage insurance is strictly for the benefit of your lender. It protects the lender in case you default on your mortgage. This is the main reason why the loan to value ratio is so important. The lower the down payment the higher the risk for the lender The lender makes the borrower pay for it monthly and is virtually impossible to remove. The borrowers usually has to refinance their loan in order to remove PMI. Almost any lender demands PMI when the borrowers’ down payment is less than 20%.
The sad part, from a consumer’s standpoint, is PMI is not tax-deductible. It’s a financial lose-lose for the borrows and a win-win for the lender.
What should I do?
If at all possible it’s better to put 20% down when buying a home and seeking conventional financing. Not all lenders require PMI so it would be prudent to shop around and find a lender who doesn’t require it.
Another avenue would to be…whatever the difference from what money you may have as a down payment and 20% is to find a source to cover the difference in a form of a Note and Deed of Trust. There are a number of people who would love to do that especially if they know you.
What to do next?
Here’s an easy 3-step process that will help you understand PMI.
Take out your cell phone
Look up my number
Call or email Cliff Keith and Team for more details: 650-346-7366 or Cliff@SFBayHomes.com
When you call I will answer any of your questions to the best of my knowledge. Putting my 40 years of experience to work for you would be a benefit and you can well imagine. Cliff Keith and Team is a company who prides themselves on being a resource for home-buyers. We are interested in help our clients have a world class experience and earn the right to have them for a client for life.
Please call today you will be glad you did.
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Redwood City, CA: As someone who wants to buy a home in Redwood City please follow these 10 Do’s and Don’ts on credit when you are planning on obtaining a real estate loan in the next 6 months. If you fail to follow this advice you will more than likely have to jump through unnecessary hoops and hurdles before you hear those magic words…”Your loan is Approved”. In fact, this information is so powerful if you don’t these tips you may never hear those magic words. You will be left out in the cold.
DON’T APPLY FOR ANY NEW CREDIT
This includes those “You have been pre-approved” credit card invitations that you receive in the mail. Every time you have your credit pulled by a potential creditor or lender, you lose points from your credit score immediately. Depending on the elements in your current credit report, you could lose anywhere from 2-50 points for one hard inquiry.
DON’T PAY OFF COLLECTIONS WHILE THE LOAN IS IN PROCESS
Paying collections will decrease your credit score immediately due to the “date of last activity” becoming recent. If you want to pay off old accounts, do it through escrow, and make sure that 1) you confirm that the debt is yours, and 2) the creditor agrees to give you a letter of deletion.
DON’T CLOSE OUT YOUR CREDIT CARDS
An important don’t for the 10 Do’s and Don’t on Credit is don’t close out your credit cards. If you close a credit card account, it will seem to FICO that your debt ratio has gone up. Also, closing a card will affect other factors in the score such as length of credit history. If you have to close a credit card account, do it after closing, and make sure that it is a more recent account.
DON’T USE YOUR CREDIT CARDS A COMPILE MORE DEBT
This is the guaranteed fastest ways to bring about an immediate drop of 50-100 points in your credit score. Try to keep your credit card balances below 30% of their available limit at all times during the loan process. If you decide to pay down balances, do it across the board. Meaning, make an extra payment on all of your cards at the same time.
DON’T CONSOLIDATE YOUR DEBT ON ONE OR TWO CREDIT CARDS
10 Do’s and Don’t on Credit
It seems like it would be the smart thing to do; however, when you combine all of your debt to one card, it seems that you maxed out on your credit cards, and the system will penalize you as mentioned above. If you want to save money on credit card interest rates, wait until after closing.
DON’T CAUSE A RED FLAG TO BE RAISED BY THE FICO SYSTEM
This would include adding new accounts, co-signing on a loan, or changing your name or address with the bureaus. The less activity on your reports during the loan process, the better.
DO JOIN A CREDIT WATCH PROGRAM
If you join a credit watch program, you can check your reports weekly, or even daily depending upon the program you select. (When you pull your own reports, you don’t get dinged for a hard inquiry.) This way, if something does show up on your reports that caused your score to go down, you’ll know it immediately, and you may be able to take care of the problem before closing.
DO STAY CURRENT ON ALL YOUR ACCOUNTS
This includes your mortgage and car payments. One 30-day late can cost you anywhere from 30-75 points. This is so important it goes without saying this in a must for one of the 10 Do’s and Don’t on Credit.
DO CONTINUE TO USE YOUR CREDIT AS NORMAL
Red Flags are easily raised within the scoring system. If it seems that you are changing your pattern, it will raise a red flag, and your score could go down. Keep going down the “steady Eddie” path you have established.
DO STAY IN CONTACT WITH YOUR MORTGAGE CONSULTANT
If you receive something in the mail from a creditor or collection agency that you believe may affect your score during the loan process. Your mortgage consultant may be able to supply you with the resources you need to stop any derogatory reporting to the bureaus. You want to remember these 10 Do’s and Don’t of Credit when you buy your home.
Made in USA
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Why spend tons of money on what appears to be the same job?
Why spend tons of money on the appraiser you hired by the bank to decide and estimated fair market value of the home. The banks require an appraisal because it protects them instead of what most think, the buyer. The buyer pays for the appraisal usually around $425 or more depending on square footage.It’s not an option. It’s a requirement.
One Value – One Condition
Home inspections
On the other hand, the various home inspectors are as follow. Pest control operator, property home inspector, roof inspector, and chimney inspector. They are hired by the buyer to inspect the condition of the home. It is usually valid on the day the property inspector does his inspection. If the condition changes after that date the inspector is not responsible,
Why spend tons of money?
The buyers pay for the home inspections. In some occasions the seller will pays for the inspection. This usually happens when the property was put on the market for sale or when they may accept an offer from a Veteran under a VA Loan. If sellers use their own inspectors, both pest and property, it done during the pre-listing period.
Your costs for home a inspections range in price between $450-$650 for a home inspection. $175 is the common cost for a chimney inspection.
What’s the problem?
Home buyers tend to believe when they order a home inspection they know the condition of the property. If it’s satisfactory then all is well. From a conditional viewpoint they would be correct.
When the home Appraiser gives the lending institution the market value of the home it is for current market value. This is based on various factors. Pre-determined factors are consistent. There is a standard used by all certified appraisers. Appraisers use standard appraisal factor based on each property being appraised in order to establish a base for everyone.
Appraisal Form
Types of appraisals
There are three primary types of real estate appraisals. When buying a home the sales comparison approach is used. The other two types are the “cost approach,” and the “income capitalization approach”. What the appraisal does is compares other like properties to the the home you have an offer on. The Appraiser will use this data to determine value. The homes compared will be within a close proximity to the subject home needing a new loan (the one your just purchased).
They also will only use homes which closed escrow in the past 90 days. This is why it is important for your Realtor to do a Comparative Market Analysis (CMA), before you submit any offer on any home.
The appraisal is meant to protect the lender of your home loan to its true value. If the appraisal is less than your offer price, you can be assured your loan will be turned down. Which means, the lender is less likely to give you the loan for your new home. Lenders are not in the business to foreclose on homes. Being a realty company is not the best use of their resources, Banks are in the business to make money off of their money through collecting interest.
The Golden Rule
When buying a home usually the Golden Rule will be the deciding factor on whether you get a loan to purchase a home or not. Oh, you don’t know about the Golden Rule I am speaking about? It’s the one that state…”those with the gold make the rules”.Your lender and your Realtor need to know up front any issues with your credit. This will make sure your approval is able to meet the standard set by your lender for home loans. The best way for you to find out what that would be by asking your loan agent in the beginning of your loan process.
What to do now?
Need more information about the home buying process? There is an easy 3-step process you can take to help you.
Call Cliff 650-346-7366
1.) Take out your cell phone
2.) Look up my number (hint: 650-346-7366)
3.) Call me immediately
Once you call we can discuss what is most important to you about the home buying process and I will answer your questions accurately. There is not any cost or obligations. Our goal however, is to demonstrate beyond a doubt how you will want Cliff Keith and Team in your corner as you move forward with your home buying process. You will then hire us to help you with all your real estate needs.
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Made in U.S.A.
