• About Albert
  • My Blog
  • Property Search
  • Buyer and Seller Info
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • Contact

Albert Rodriguez

The Few... The Proud... The Best That Real Estate Has to Offer...

  • About Albert
  • My Blog
  • Property Search
  • Buyer and Seller Info
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • Contact

The Top Trends For The Backyard This Spring

May 26, 2022 by Albert Rodriguez

The Top Trends For The Backyard This SpringWith the weather beginning to warm up outside, a lot of people are looking forward to spending more time outdoors. If your grass is beginning to grow and turn green again, you might be thinking about hosting a party with your family members and friends. What are a few trends you should consider embracing this spring?

Container Gardens

A lot of people are looking for ways to introduce nature into their homes. Even though you can certainly put a few more flowers and plants inside, you might want to consider container gardens outside. You might be able to grow your own vegetables, and you could grow some herbs. If you like spicy food, consider planting a few hot peppers. Then, tend to the gardens, watch them grow, and enjoy the splash of color they bring to your yard.

Living Room Furnishings

If you want to develop stronger connections with your family members and friends, consider moving the living room outside. While you can certainly go with traditional outdoor wicker furniture, consider putting living room-like furnishings outside. This could include couches, coffee tables, and even a TV. Just make sure you take care of your furniture if you decide to deploy it outside. You might want to invest in a cover you can use to protect it from the rain. 

An Outdoor Kitchen

Consider cooking more outdoors. There are plenty of ways you can create a kitchen-like atmosphere in your backyard. You might want to get a grill, a rolling bar cart, or even an extra sink. If you really want to go all-out, consider purchasing an oven or a stove you can have outside as well. This will encourage you and your family to use the backyard more often.

Get The Most Out Of Your Backyard This Spring

These are just a few of the top trends you may notice in backyards this spring. If you are looking forward to getting outside again, consider putting a few of these trends to use. Take a look at some of the sales you can use to save money, and consider who you will be hanging out with. That way, you can get the most out of your backyard during the warmer months. 

 

Filed Under: Real Estate Tagged With: Backyard, Home Improvement, Real Estate

Manufactured, Mobile, And Modular Homes: What Are The Differences

May 12, 2022 by Albert Rodriguez

Manufactured, Mobile, And Modular Homes: What Are The DifferencesThere are a lot of different types of homes available, and it is important for people to understand the differences. When people are considering purchasing a house, particularly a rental property, it is easy to get overwhelmed by the different houses available. Some of the most common options include manufactured homes, mobile homes, and modular homes. What are the differences?

A Mobile Home

A mobile home is a home that has been built with axles directly underneath the house. The axles make it easier to transport the home from place to place. The axles stay on the home even if people live in it. A mobile home might have a skirt placed on it to shield the axles from view, but mobile homes often have to be registered with the DMV because they qualify as a vehicle. 

A Manufactured Home

A manufactured home has been built in another location. Then, it is trucked to the final location where it is deployed. Manufactured homes do not have axles, but they can sit on the bed of a truck. They may or may not be installed on a long-term foundation once they arrive at the permanent site. Typically, these homes are built using metal frames to make them easier to transport. 

A Modular Home

A modular home is very similar to a manufactured home. It is built in another location, but it usually has a wooden frame instead of a metal one. It may also be deployed on another foundation once it arrives at its final location. 

Financing A Manufactured, Mobile, Or Modular Home

One of the big issues with purchasing one of the houses above is that financiers may hesitate to hand out a loan. Because mobile homes technically qualify as a vehicle, it can be difficult to find a lender who is willing to finance them. It might be possible to finance a manufactured or mobile home, but it needs to meet FHA requirements. The house must have been built according to HUD guidelines, it must have been moved to the current location when it was new, and it has to be attached to a permanent foundation. Then, it might be possible to find a lender to finance the cost of the house.

 

Filed Under: Real Estate Tagged With: Real Estate Investment, Real Estate Sales, Real Estate Value

Offering Asking Price: Is This Offer Competitive In The Current Market?

May 11, 2022 by Albert Rodriguez

Offering Asking Price: Is This Offer Competitive In The Current Market?The current real estate market is incredibly competitive, and a lot of potential homeowners are wondering how they can separate themselves from the crowd. In the past, many people would think about how much under the asking price they could offer and still get the house. Now, it appears that the market has flipped. It is not unusual for a seller to have dozens of offers on the first day, so what do potential buyers need to do to be competitive?

Houses Are Selling Quickly

The current market is highly abnormal. According to statistics that have been published, the average house receives close to five offers and sales in just over two weeks. When a house has received multiple offers, it is not unusual for a property to sell above asking. A lot of sellers have so many offers that they are able to save money on housing costs by accepting an all-cash offer.

Buyers Must Be Prudent

Ultimately, buyers need to pay attention to market conditions if they want to submit a competitive offer. In today’s market, the list price is typically the start of the negotiating process. Therefore, buyers need to know this when they put an offer together. At the same time, buyers need to make sure they do not increase their offer too much, or they could end up buying a house that they cannot afford. 

Planning Ahead Is Critical

It is critical for buyers to set their budget and their expectations ahead of time. That way, they know exactly how much house they can afford. Buyers also need to know when to walk away. Even though it is tempting to fall in love with a house, keep in mind that there are other properties available. Buyers need to put their best foot forward if they want to put themselves in the best position possible to be successful. 

Will The Market Change?

Even though the real estate market does traditionally cycle, it is impossible to predict what is going to happen in the future. Furthermore, changing mortgage rates could have an immediate and drastic impact on the real estate market. Buyers need to be vigilant and understand what the current market looks like. 

 

Filed Under: Real Estate Tagged With: Home Offer, Real Estate, Real Estate Value

A Guide To Investing In Real Estate Rentals

May 6, 2022 by Albert Rodriguez

A Guide To Investing In Real Estate RentalsIf you are thinking about purchasing an investment property, you probably understand this is a great way to diversify your investments. On the other hand, you also need to understand how to evaluate potential rental properties and how to make sure you can generate enough income to cover the overhead expenses related to the property. What do you need to know?

Pay Down Personal Debt First

Before you decide to take on a second mortgage, you need to pay down as much of your existing debt as possible. If you have unpaid medical bills, student loans, and car loans, you need to pay down the step before you decide to purchase an investment property. You need to have cash available to pay down your current and second mortgage, so you do not want to have other sources of debt dragging you down. 

Have Enough Money For A Down Payment

Investment properties typically have more stringent requirements regarding down payments. Even though you might have qualified for a first-time homeowner loan for only 3.5 percent down, that is not going to cut it for an investment property. You will probably need to have at least 20 percent of the property’s value available for a down payment. Mortgage insurance generally is not available on rental properties.

Consider Location

Just as you did with your original property, you need to think carefully about the location of your rental property. You need to purchase a property that has the potential to go up in value. You should also think about properties that have a strong school system, easy access to amenities, and relatively low property taxes. You also need to pay attention to crime rates and the health of the job market.

Consider Rent And Unexpected Costs

Finally, after you find a lender who can help you, make sure you think about your rental stream and any unexpected expenses. You need to have enough rent coming in every month to cover your mortgage, real estate taxes, and homeowners insurance. You should also have money set aside to cover unexpected expenses such as roof damage, HVAC issues, and plumbing problems. Stay on top of these issues to protect the value of your property. 

 

Filed Under: Real Estate Tagged With: Down Payment, Real Estate, Real Estate Investing

Understanding Your Debt To Income Ratio: What It Means

May 5, 2022 by Albert Rodriguez

Understanding Your Debt To Income Ratio: What It MeansIf you are looking for a home, you might need to finance it using a lender, such as a bank or a credit union. There are a number of factors that will influence whether your mortgage application is approved. Then, these same factors will play a role in the terms the lender might offer you. One of the most important factors is called the debt to income ratio, or DTI. It is important to understand how this will impact your mortgage application.

What Is A Debt To Income Ratio?

Your DTI is important to the lender because this allows the lender to figure out the likelihood of you paying your mortgage on time. The less debt you have, the more financial stability you have to pay a potential mortgage. 

To calculate your debt to income ratio, you need to calculate all the bills you have for the upcoming month. For example, if you have rent and a car payment, you add these numbers together. Then, you divide this number by your gross monthly income. If your rent is $900 and your car payment is $200, your total debt is $1100. Then, if you earn $3300, divide $1100 by $3300. This is about 33 percent.

Student Loan Debt Is A Driving Factor

With many members of the younger generation getting ready to purchase a house, it is important to understand the impact of student loan payments. Because a lot of potential home borrowers have student loans to pay back, their debt-to-income ratios will be significantly higher. This could make it harder for younger borrowers to get qualified for a mortgage, particularly one with favorable terms.

How To Improve Your Mortgage Application

Before you apply for a home loan, you should try to improve your debt to income ratio by paying down your existing bills. For example, if you have credit card debt, this will be included in your debt to income ratio. Try to pay this off before you apply for a mortgage. You should try to pay down your student loans as much as possible before applying for a mortgage as well. The less debt you carry, the more likely your mortgage application will be approved. 

 

Filed Under: Real Estate Tagged With: Debt to Income, Mortgage Payment, Real Estate

Common Fees During Refinancing

May 3, 2022 by Albert Rodriguez

Common Fees During RefinancingAs interest rates fluctuate, you might think about refinancing your mortgage. This is the cost of taking out a new home loan to replace the one you currently have. If you get a significantly lower interest rate, you could save tens of thousands of dollars over the life of the mortgage. On the other hand, you need to think about potential expenses you might incur during the refinancing process. Because you are taking out another home loan, you may need to pay closing costs a second time. What are some of the most common expenses you might have to pay?

The Mortgage Application Fee

One of the most common expenses is the mortgage application fee. Essentially, this is a fee that the lender will charge for opening up a new application on your behalf. The fee can vary significantly depending on the lender you use, but it is usually a few hundred dollars.

A Home Appraisal

When you took out your first mortgage, the lender probably required you to get your home appraised. The lender wants to make sure they are not financing a home that is not worth as much as its price tag. You still need to get your home appraised again if you decide to refinance your mortgage. The lender wants to make sure they understand how much the house is worth before they give you a loan for it. A typical home appraisal is also a few hundred dollars.

Title Search And Title Insurance

The lender might also require a title search and title insurance. This is important for making sure you protect yourself in the event someone else still holds the title to your house. A title search is usually a few hundred dollars, and title insurance could be $1,000 or more.

Loan Origination Fee

Most lenders charge a loan origination fee that is approximately one percent of the value of the loan. Again, this can vary from lender to lender as well. 

Understand These Fees

There are lots of potential fees that a lender might tack on. Fortunately, you do not necessarily need to pay for all of them. Always ask the lender whether they might be willing to waive some of these fees to make the cost less expensive. 

 

Filed Under: Real Estate Tagged With: Fees, Mortgage, Refinance

  • 1
  • 2
  • 3
  • …
  • 79
  • Next Page »
headshot

Contact Albert


Realty Executives Santa Clarita

Call (661) 993-5831


CalBRE #01443727 Realty Executives
SEARCH FOR PROPERTIES →

Connect With Me!

  • Facebook
  • LinkedIn
  • Twitter

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Categories

Equal Housing & Realtor

Return to top of page

Copyright © 2022 Albert Rodriguez. All rights reserved.   Log In