Mortgage Loan Terms

With interest rates on the rise it may be time for some of us to think about something other than that ever popular 30-year fixed loan. Here’s a comparison that may make your decision easier.

How to buy a home with a pool

While the decision of whether or not to buy a home with a pool is a personal choice for homebuyers, there are several factors to consider which will have a serious financial impact over the short and long term.

Beyond deciding whether or not you want to own a pool, there are additional issues to consider, such as the insurance, maintenance and safety costs associated with pool ownership.

"Owning a pool can be a wonderful experience and can add to the beauty and desirability of your home," says Doug Hill, a real estate agent at Coldwell Banker in Phoenix, Ariz. "But, we recommend that buyers consider the pros and cons of pool ownership before they dive in."

7 Design Secrets for a House You Can Live in Forever

The words dream house may conjure up fantasy amenities and custom trims. But smart homeowners also imagine a home they can live in forever — with a young family, through busy midlife, and with many of the common physical limitations that getting older can bring, from arthritis to needing a wheelchair.

Universal design (UD) is the design of products and environments that are usable by most people, regardless of their level of ability or disability, and at little or no extra cost. From entryways to kitchens and bathrooms to bedrooms, they often increase the value of a home. UD brings together the principles of accessible design (meeting standards for handicapped access, using “adaptable” design, meaning “normal”-looking design that can be revised later for disabled use), ergonomic design (allowing people and things to interact most effectively and safely), and green design (environmentally friendly spaces). UD is sometimes also called “lifespan design.”

Strong Price Gains Fuel Market Confidence

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

Intero value #14 is confidence.  Confidence /con·fi·dence/ •noun.  Freedom from doubt; belief in yourself and your abilities.

Confidence is also the word in housing this week. At least that's what we're hearing from some of the top companies in housing finance.

JPMorgan Chase revised its forecasts for the industry, prompted by large gains in home prices. And Fannie Mae released its monthly national housing survey, showing a sharp increase in consumer confidence in the housing market.

Home prices could grow as high as 7.2% this year, according to JPMorgan's new report. Analysts at the bank studied prices and demand conditions as the market moves into summer. They revised 2013 predictions higher as well as projections for 2014 and 2015, with an expected 3.9% and 3.2% growth, respectively.

Home for Sale: 68 Victoria Drive, Gilroy

Excited to have a beautiful new listing. Don't miss seeing it even if it's not the home for you because it is so meticulously maintained and presented. A real show piece!

Decorate for the Season

Looking to freshen up and "Summerize" your décor? Here's some suggestions for the room with your fireplace. Do you like any of them?

14 Ways to Style Your Mantel for Spring and Summer

Kitchen ideas, bathroom ideas, and more ∨

Filter by metro area and choose the right kitchen designer for your kitchen style.
Find home remodeling professionals, local residential architects, top home builders in your area and decorating and interior design ideas.

Home Warranties - Not Just for New Homeowners

We've had some conversation today about how home repairs get to be more and more of a burden the longer the homeowner has owned it. A good solution to these high repair costs is to purchase a home warranty. With this program a homeowner pays an annual premium and a fixed co-pay for each service call. While we have our favorite to recommend, we're being fair and giving information on three very good companies that service our area and all of California.

Fidelity National
American Home Shield
Old Republic Home Warranty

Here's short video that explains what home warranties are:



We have many homeowners who buy these programs year after year. We also have several investment property owners who buy them for their rental properties. Hope you find this information useful. Let us know if you decide to purchase one of these policies.

Low Equity Holds Back Housing Inventory and Sales

 

 

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

22 million homeowners can't sell.

Zillow this past week reported that 13 million homeowners were still underwater in Q1, and more than 9 million more lacked enough equity to move. That's 25.4% of all homeowners with a mortgage. This is a large part of the short inventory story.

These homeowners are essentially stuck. For now.

The total number of homeowners with less than 20% equity increases the negative equity rate to 43.6%, or 22.3 million homeowners, Zillow said. Zillow's factoring in that a seller would need at least 20% to cover selling and closing fees, as well as make a down payment on a new home.

Of the 30 largest metro areas in Zillow's report, Las Vegas (71.5%) had the highest percent of homeowners with less than 20% equity. Atlanta (64.1%) and Riverside, Calif. (59.7%) were second and third.

What's going to bring back equity?

Time and demand.

But it needs to happen within delicate boundaries. If inventory continues to lag by larger margins, demand will price out too many buyers – especially first-time buyers.

As we've noted before, this is the only notable obstacle in the recovery right now. As it stands, housing is being called the strongest sector of the economy. Home prices are making healthy gains and sales are either chugging along in some markets or exploding off the charts in others like we're seeing in Silicon Valley.

What needs to happen to remove this obstacle, however, is a combination of things. Values will need to continue to climb, but more of the severe underwater cases will also need opportunities to either refinance or short sell out of their situations.

It may seem like a steep climb, but we're already on the hill looking up. Soon we'll be looking back. Most expect more improvement on the horizon.

 

That's what's really holding back inventory and therefore home sales in many markets right now. While home sales have rebound at a healthy pace in many areas, lack of inventory holds a wrench in the gears.

Memorial Day Remembrance

 

In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.

 

We are the Dead. Short days ago
We lived, felt dawn, saw sunset glow,
Loved and were loved, and now we lie
In Flanders fields.

 

Take up our quarrel with the foe:
To you from failing hands we throw
The torch; be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders fields.

 

by John McCrae, May 1915

 

 



This week-end is our annual Memorial Day Celebration, which at our house is always enhanced by celebrating Rick’s birthday. We all have our favorite recipes, but before we get to the food, there’s the BBQ fire to get just right. Here’s a short video about how to get your charcoal briquettes burning without lighter fluid. Hope you find it useful.