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1422 Via Fraga, Gustine, 7 bed/4 bath/3,284sqft/7,414sqft lot

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$497,000 – Gustine’s Borrelli Ranch home with In-Law Quarters. Approx. 3284sf with 7 bed/4bath home with many Possibilities. The Back Attached living Space is 2 bedrooms & 1 bath which was added in 2004. Would make excellent in-laws quarters. Solar that is leased. Large Entertaining Living Spaces with High Ceilings. Big Master Suite upstairs. 3-Car Garage. Could Make a Wonderful Family Home! Big Corner Lot with a BIG house.

Property Features

Bedrooms

  • Bedrooms: 7

Appliances

  • Equipment: Free Standing Gas Range, Dishwasher, Disposal
  • Laundry Facilities: Inside Room

Heating and Cooling

  • Cooling Features: Ceiling Fan(s), Central
  • Fireplace Features: Family Room
  • Heating Features: Central
  • Number of Fireplaces: 1

Bathrooms

  • Full Bathrooms: 4
  • Primary Bathroom Features: Closet, Shower Stall(s), Double Sinks, Tub
  • Bathroom 1 Features: Tub w/Shower Over

Interior Features

  • Interior Amenities: Lower Level: Bedroom(s), Living Room, Family Room, Retreat, Main Level: Bedroom(s), Living Room, Family Room, Garage, Retreat, Kitchen, Upper Level: Bedroom(s), Master Bedroom
  • Flooring: Tile

Kitchen and Dining

  • Dining Room Description: Dining/Family Combo
  • Kitchen Features: Kitchen/Family Combo, Tile Counter

Other Rooms

  • Family Room Features: Great Room
  • Living Room Features: Cathedral/Vaulted

Land Info

  • Lot Size Acres: 0.1702
  • Lot Size Dimensions: Approx. 7413sf
  • Lot Size Square Feet: 7414

Garage and Parking

  • Garage Spaces: 3
  • Garage Description: Garage Door Opener, Garage Facing Front

Home Features

  • View: City
  • Security Features: Carbon Mon Detector, Double Strapped Water Heater

Homeowners Association

  • Association: No
  • Calculated Total Monthly Association Fees: 0

School Information

  • School District: Merced

Other Property Info

  • Source Listing Status: Active
  • County: Merced
  • Cross Street: Via Jodi
  • Directions: Highway 33 to Jensen Place. Right or East on Via Del Pettorut. Wraps into Via Jodi. On the Corner of Via Jodi and Via Fraga.
  • Source Property Type: Single Family Residence
  • Area: Gustine
  • Source Neighborhood: 20413
  • Parcel Number: 063-373-021-000
  • Postal Code Plus 4: 1363
  • Zoning: RES
  • Property Subtype: Detached
  • Source System Name: C2C

Utilities

  • Electric: 220 Volts
  • Sewer: In & Connected
  • Cable Available
  • Public
  • Solar
  • Water Source: Public

Building and Construction

  • Year Built: 1999
  • Construction Materials: Stucco, Wood
  • Direction Faces: North
  • Foundation Details: Concrete
  • Levels: Multi/Split
  • Living Area Source: Assessor Agent-Fill
  • Property Age: 24
  • Roof: Roof Description: Tile
  • Levels or Stories: 2
  • House Style: A-Frame, Contemporary
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Negotiate, counter or accept: Get the most when selling your home

Home Sale Negotiation

You’ve received an offer on your house. Great! Now what? You might feel so excited that you jump at the first offer you see, but there are some smart reasons to be thoughtful before accepting an offer.

It’s important to negotiate house offers to earn the best price and terms on the sale. Here are some insights you can use to accept the champion offer on your home.

    • What to consider when selling your home
    • How to approach a counter-offer
    • Negotiating a house offer or multiple offers
    • Accepting an offer on your house (and the steps that come after)

What should I do when I receive an offer on my house?

If you’ve hired a REALTOR® to represent you during the home sale process, they will receive all offers on your home from agents representing the hopeful buyer(s). Once an offer is made, your Realtor will present you with the information from the buyer’s agent. The offer details typically include:

    • A purchase agreement. This will become the binding sales contract if the offer is accepted.
    • Proposed terms of the deal, like purchase price and whether the deal is contingent on a mortgage approval (vs. an all-cash offer).
    • Proposed closing date.
    • Amount for earnest money deposit, which is monetary collateral the buyer puts down to show they’re serious about the purchase.
    • Provisions regarding title and inspections.
    • Contingencies, including home inspection or sale of the buyer’s home.

Together with your agent, you’ll review the details of the offer to determine if the terms are acceptable. From this point you can either accept, negotiate or decline the offer.

How long do home sellers have to consider an offer?

The answer to this actually depends on if you are making an offer on a home in Minnesota or in Wisconsin.

In Minnesota, there is no standard deadline to respond to an offer — and it’s pretty uncommon for a buyer to stipulate one. In Wisconsin, on the other hand, buyers are required to put a deadline on the offer. If the offer expires without a response from the seller, the buyer is free to walk away and make offers on other properties.

Should a seller ever accept the first offer?

Accepting the first offer can be advantageous for some sellers. Here are a few reasons why you may accept the first offer on your for-sale home:

    • The monetary offer and terms are acceptable to you, or beyond what you were expecting.
    • The buyer has proposed a timeline that works well for you.
    • The buyer has waived contingencies, making for a smoother path to the closing table.
    • The buyer has an all-cash offer and will not have to finance the purchase.
    • You don’t want to deal with additional showings or open houses.
    • You don’t think you’ll get a better offer from anyone else.

Keep in mind that you could drive yourself crazy wondering if you left money on the table by accepting an early or first offer. It’s important to talk with your Realtor early on about your ultimate goals for selling before you list the home. That way, when the right offer comes in — either after one day or one month — you will be ready to confidently accept it.

When can I decline an offer?

Before rejecting an offer outright, be sure to discuss the decision with your Realtor. If you feel as though a buyer will never compromise to meet in the middle, it may be time to reject an offer.

However, it’s very important to keep in mind that if you reject an offer, your reasoning must be based on the terms of the purchase agreement. You cannot, under any circumstances, discriminate against buyers based on race, religion, ethnic group or other factors not related to the terms of the purchase agreement.

What is a counter-offer and how do I make one?

If you receive an offer on your home that isn’t quite aligned with your goals, you may make a counter-offer. In a counter-offer, you are implying that you will accept the buyer’s offer, subject to one or more requested changes.

Respond with a counter-offer

A common tactic for sellers is to respond to a low bid with a counter-offer for the original list price. This shows potential buyers that the list price is what the seller intends to get for the property, and that it wasn’t a high-ball posting. A seller may also find other terms of the offer unacceptable and could make a counter-offer to remove those terms.

If the buyer agrees to your price or terms and signs the counter-offer, you’ve got a deal! Contrarily, the buyer could also submit their own counter-offer in response to yours, and the negotiation process would continue.

Leverage an expert’s advice

Navigating offers and counter-offers is a high-stakes game, and the process can be stressful and confusing as a result. Remember, your Realtor has deep market expertise and a history of negotiating the best deal for their clients, and you can lean on them heavily during this time — and rest assured that you’ll walk away with the best possible offer.

What if I receive multiple offers?

It’s possible that you’ll receive multiple offers on your home. In fact, some home sellers actually try to attract multiple offers with the hopes of being able to choose the best bid for the final property sale.

When facing multiple offers, you’re at a clear advantage — so sit back and determine the best purchase price and terms for you. Here are a few ways to react when you receive multiple offers:

    • Review all bids and choose one. Go through all offers on the home, keeping in mind that you may want to look at more than just the price. To find the best bid, you’ll also want to consider the all-around terms of the offer. You may find that one standout offer is too good to resist and decide to accept it.
    • Ask for a final offer. If the bids are close together, or you believe you can negotiate an even better price or terms, you can request for some or all buyers to submit their best and final offers.
    • Counter-offer. Rather than asking buyers for their best offer, you could also submit a counter-offer to a buyer who is close to your desired price or closing time, but not quite there.

Whether you find a winning bid after the first set of offers, or have to negotiate to get the offer you’ve been waiting for, you’ll find that your Realtor will be an invaluable asset during this process.

What do experts do to negotiate a better selling price?

The easiest way to negotiate as a seller is to make a counter-offer in response to single or multiple offers, then simply wait to see if the counter is accepted. But risk-takers may prefer to go the route of asking for blind “best” offer — after all, an eager buyer may go even beyond the sale price or terms you had in mind.

Remember, though, there is more to a home sale than just price. By thinking about considerations that go beyond the ticket price, you may end up with a sale that really works in your favor. For example, you may prefer to:

    • Request no contingencies from your buyer.
    • Ask for a faster, or slower, timeline to closing — depending on your preferred moving schedule.
    • Choose a buyer who agrees to pay all their own closing costs.
    • Put an expiration date on your counter-offer so you get a fast, final answer from buyers.

Do sellers ever reject offers for the asking price of a home?

Price is just one element of a contract, so it’s certainly possible for a seller to view a list-price offer and still reject it based on other conditions stated within the offer.

When the market (or market-segment such as a certain price point) favors sellers, you may hear about multiple offers driving prices up so that sellers receive even more than their original asking price. In a market that favors sellers, some may hope to earn more than their listing price at closing — and as a result, they may be inclined to reject their initial listing price from a buyer.

We recommend pricing your home so that you’d be pleased with a list price offer and view anything above it as a bonus. That way, you don’t set yourself up for disappointment, and you don’t irk buyers who are working in good faith to get approved for list-price offers.

What are the steps after accepting an offer?

Now, it’s on to the closing table. Your agent will help you complete the steps to closing on your home, which include:

  • Monitoring the buyer’s loan approval and title process
  • Negotiating any issues that arise prior to closing
  • Selecting a closing date
  • Finalizing any payments or negotiations you’ve made to the buyer, including any agreements you made to pay for home repairs or closing cost incentives

You’ll also want to begin packing up your home, because moving day will come faster than you realize!

Ready to get started?

Now that you’re a pro negotiator and know how to identify an offer worth accepting, are you ready to get the home sale process started? Call Clarence Oliveira with any questions – (209) 988-5254

Source: edinarealty.com ~ Image: Canva Pro

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How to Get a Mortgage

Not sure how to get a loan for a house? Here’s a step-by-step guide.

Getting a home loan isn’t just a big step, it’s an entire staircase — and it can take a long time to reach the top. There are times when the climb will feel dizzying, but knowing how to get a mortgage before you start can help you stay organized and feel more in control.

Ready to learn what it takes? Here’s how to get a mortgage, step by step.

1. Give yourself a financial checkup

Before you set off to get a mortgage, make sure you’re financially prepared for homeownership. Do you have a lot of debt? Do you have enough saved for a down payment? What about closing costs?

A home is a major purchase — maybe the biggest one you’ll ever make — so it’s no surprise that lenders really dig into borrowers’ finances before handing out house loans. If you’ve got substantial debt or don’t have much of a credit history, you may want to improve your financial health before applying for a mortgage.

A thorough understanding of your income and debts will help you know exactly how much house you can afford.

Additionally, know that lenders look closely at your credit score when determining your eligibility for a mortgage. The interest rate you’ll be offered depends heavily on your credit score.

Check your credit score, and if it needs work, build up your credit before you begin applying for a home loan. That can include paying down outstanding debt, disputing errors on your credit reports, and not opening any new accounts.

» MORE: How your credit score affects your mortgage rate

2. Identify the right mortgage

There are many types of house loans available. The one that’s best for you will depend on your financial situation and homeownership priorities. Here are some of the loan options you can consider:

Conventional or government-backed?

  • Conventional loans have stricter qualification requirements because they aren’t insured by the government, so they’re a better fit for borrowers with strong credit. The application process may have fewer hurdles than that for government-backed loans.

  • FHA loans are insured by the Federal Housing Administration. These loans can have more lenient credit score minimums and allow the use of gift money as part of the down payment.

  • VA loans are only available to active service members or veterans, and they’re backed by the Department of Veterans Affairs. These loans often require no down payment.

  • USDA loans are a program of the U.S. Department of Agriculture. These zero-down-payment home loans are for lower-income borrowers who live in rural areas.

  • Jumbo loans are conventional loans for properties that exceed conforming loan limits. They offer a way to buy homes in more expensive areas.

Fixed or adjustable rate?

  • Fixed-rate mortgages are popular because the mortgage interest rate doesn’t change over the life of the loan. The rate to which you initially agree will be the rate you keep until you sell the home or refinance.

  • Adjustable-rate mortgages have low introductory rates that start out fixed but can then fluctuate. If you don’t plan to stay in the home long, an adjustable-rate mortgage could yield savings.

Mortgage term?

  • A 30-year mortgage is the most common term. Monthly payments are generally smaller, but you’ll pay more interest overall than you would with a shorter-term loan.

  • Shorter term house loans, like 10- or 15-year mortgages, are also available. You pay less interest, but monthly payments can be steep. Lenders may offer other options, such as 20-year mortgages, that fall somewhere in between.

Down payment?

  • Some conventional loans can allow for a down payment as low as 3%, but if your down payment is less than 20%, you’ll also probably have to pay for private mortgage insurance, or PMI. This monthly expense is typical on low-down-payment mortgages to protect lenders in case the borrower fails to repay their loan. Once you get up to 20% equity in the home, you can take steps to cancel your PMI.

  • Some government-backed home loans do not require a down payment, while others let you make lower down payments. Depending on the type of loan and the amount of your down payment, you’ll have different requirements for mortgage insurance.

3. Research mortgage lenders

Look at multiple home loan lenders to find the one for you. There’s a wide array of lenders to consider, including traditional banks, online non-bank lenders, and credit unions. Consider starting with your own bank or credit union. Some offer lower interest rates for existing customers.

If you’re looking for a particular type of mortgage, you may want to zero in on specialty lenders. For example, if you know you want a VA loan, a lender that focuses on working with military borrowers may best fit your needs.

No matter what kind of loan you’re seeking, you’ll want to consider:

  • How do you prefer to communicate with the lender? Do you want an in-person experience, or are you comfortable with phone calls, emails or even texts?

  • Whether any sample rates you’re shown include points. These fees are interest that’s paid upfront, lowering the rate.

  • What the minimum qualifications are. For example, knowing a lender’s minimum credit score or down payment can help you determine if you’re ready to apply for pre-approval.

  • Whether the lender offers any unique programs that would fit your needs (for example, down payment assistance for first-time home buyers).

4. Get preapproved for a home loan

There are a couple of big advantages to getting a mortgage pre-approval. One, it shows sellers that you can make a solid offer up to a specific price. Two, it helps you figure out what your mortgage will really cost since you’ll get details on the rate, APR, fees, and other closing costs.

It’s smart to get preapproved by at least three lenders. Hey, you’ve already gone to the trouble of digging up all those preapproval documents — and comparing rates could potentially save thousands of dollars over the life of the loan. Plus, if you get all the preapprovals within a short period of time (30 days is safe), it only counts as one hard inquiry on your credit report.

5. Submit your application

Even if you’ve been preapproved, you’ll have to submit your most recent financial information when you formally apply for a home loan. This can include:

  • W-2 forms from the past two years.
  • Pay stubs from the past 30 days.
  • Federal tax returns from the past two years.
  • Proof of other sources of income.
  • Recent bank statements.
  • Details on long-term debts such as a car or student loans.
  • ID and Social Security number.
  • Documentation of sources for recent deposits in your bank accounts.
  • Documentation of any gifts or other funds used for your down payment.

There may be other kinds of documentation required, depending on the type of mortgage you’re getting.

Within three days of receiving your application, your lender will give you an initial loan estimate, which includes:

  • How much the loan will cost?

  • Associated fees and closing costs, including information on which costs you can shop for.

  • Interest rate and APR, or the annual cost a borrower pays for a loan, including certain fees, such as discount points.

Now that you know your interest rate, you can decide whether to buy discount points. These are upfront fee that lowers your rate by essentially prepaying interest. (If you opt to buy points, they’re included in your closing costs.) Points can be a good option if you plan on staying in your home for at least seven years.

6. Begin the underwriting process

Underwriting can be the most nerve-racking part of getting a mortgage, even if you’ve been preapproved. It’s more waiting, this time to get officially approved for the loan. You may also find yourself working with an underwriter rather than the loan officer who’s helped you up until this point.

During the underwriting process, the lender determines whether you’re eligible for the loan. Factors evaluated include:

The lender will take a look at your updated credit report and order a home appraisal. An appraisal tells the lender the market value of the home, since they won’t lend you more than the home is truly worth.

Meanwhile, you will schedule a home inspection, which will look for any defects in the home. Depending on how it goes, you may want to negotiate with the seller for repairs or a lower price before closing.

During the underwriting process, you’ll want to avoid making changes to your finances, such as switching jobs or taking out another line of credit. The same goes for large purchases that increase your debt, such as buying a car. Increasing your debt can lower your credit score, which could make the loan costlier — or even jeopardize your qualification.

Getting ready to buy a home? We’ll find you a highly-rated lender in just a few minutes.

7. Prepare for closing

Finally, your loan is approved! But you’ve got a few more steps to take before the process is complete.

  • Purchase homeowners insurance. Your lender will require you to do this. Shop around for the best policies.

  • Buy a lender’s title insurance policy. And while it’s not required, it’s wise to also purchase owner’s title insurance. Both policies offer protection in case there are problems with the title to the property down the road.

  • Do a final walk-through of the home. Make sure nothing has changed — and any agreed-upon repairs have been made — since the home inspection.

  • Review your updated loan estimate and closing disclosure. You’ll get this three days before the scheduled closing date. Compare these new documents to what you got when you were initially approved, so you can see if and how any costs have changed unexpectedly.

  • Get funds for your cash to close. Depending on what your lender requires, you may need a cashier’s check from your bank or a wire transfer to pay the final closing costs. Typically, you’ll pay between 2% and 5% of the home’s purchase price in closing costs. You can estimate your expenses using a closing costs calculator.

8. Close on the home

You’re almost done!

If you start having serious second thoughts at this point, you can still walk away. However, you might lose your deposit — also called earnest money — if you decide not to close.

Don’t be afraid to ask questions of your lender. Getting a mortgage comes with a lot of paperwork. Take the time to understand it all. Know what you’re signing and what you’re paying.

Your state’s laws will determine who’s present at closing. These people may include:

  • Your mortgage broker.
  • Your real estate agent.
  • Your attorney.
  • The seller’s attorney.
  • A title company representative.
  • The seller and the seller’s agent.

And that’s it — you made it to the top, and the loan is yours. It’s finally time to move into your new home!

Source:  keepingcurrentmatters.com ~ Image: keepingcurrentmatters.com

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SOLD – 3400 Sullivan Ct. Apt. 272, Modesto

SOLD
Welcome to The Orchards… This gated community is a condo featuring 2-bd/2-ba w/fireplace, patio area & inside laundry, covered carport parking, and nearby guest parking. Newly updated with all new flooring and paint, bathroom, and kitchen! Close to shopping, many restaurants, and easy access to Highway 99. For your enjoyment, The Orchards amenities include a swimming pool, tennis court, clubhouse, sauna, and fitness room. Set up your viewing of this great condo as soon as you can!!
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10 Tips for a Successful Open House

OPEN HOUSE

Here’s how homebuyers and sellers can prepare for and get the most out of an open house.

For a home on the market, a Sunday open house feels like a tradition to most home sellers, real estate agents, and curious neighbors who love to peek inside properties on their street.

Still, an open house can be a productive way to show a home, take a tour and connect with a real estate professional. Here are 10 tips for both buyers and sellers to make for a successful open house:

Make Your Home Tour-Ready

Even in a hot seller’s market where there are more buyers vying for a home than there are properties for sale, you’ll set yourself up for failure if you have an open house before your home is in good shape.

Eager buyers won’t overlook major flaws in your home – they’ll either opt to pass or make an offer below what you feel your home is worth. Mow the lawn, plant flowers, paint the front door if it’s seen better days, and repair any issues.

“Fix the red flags. Do not let live buyers come to your property if you did not fix your septic problem first, or you didn’t fix the mold problem in the basement,” Sheehan says.

Clean and Declutter

Beyond the larger projects you should undertake to prepare your home for tours, don’t forget to depersonalize, remove items from closets and surfaces and give the entire place a deep clean.

Clean the floors, vacuum, and wipe down baseboards and windows. Shoes, laundry, and dishes should be out of sight. Any valuables should be moved out of the house or locked away for safekeeping.

If you’re the kind of person who’s used to making your bed in the morning and not letting dishes pile up, preparing for an open house should require only a few extra steps. “I don’t know that it’s particularly difficult for a fastidious homeowner to prepare for a Sunday open,” Sheehan says.

Let People Know

In order to have people show up to your open house, they have to know about it. Your real estate agent will likely take the reins in marketing the open house with signs in front of your house and around your neighborhood as well as posting on the local multiple listing service and consumer-facing listing sites like Zillow, Trulia, and realtor.com.

The more people who know about the open house, the more you’re likely to tap into the large buyer pool. Todd Szwajkowski, a real estate broker and president of SwakeGroup at Dream Town Realty in Chicago, says that an open house the first weekend a property is on the market tends to lead to multiple offers in the current competitive environment.

Stay Away From the House

Once the house is open to the public, make yourself scarce. Just as you remove any family photos around the house, buyers don’t want to meet the seller while they’re trying to form an honest opinion of the property.

Take your pets with you during the open house as well. People may be allergic, and not everyone is a fan of dogs or cats, even if they’re friendly. Evidence of a pet in the house can also be a turnoff for some buyers – which is why deep cleaning to remove any residual pet smell is a must.

Let Your Agent Take Control

As the seller, make sure you pick a listing agent whom you trust with your home. During an open house, you have to be willing to relinquish control to your agent and trust him or her to show off your property in the best light.

Move Fast

If you’re a buyer attending an open house to consider making an offer, you have to be ready to move fast. Realtor.com reports that the inventory of homes for sale in April decreased by 53% over that past year. The average number of days on market in the U.S. was just 43 days in April, which includes time spent under contract, and is 20 days less than in April 2020, according to realtor.com.

If a home you’re serious about has an open house its first weekend on the market, come to the open house prepared with an understanding of your financial situation, a loan preapproval when possible, and a willingness to make an offer after touring.

Bring Your Own Agent, When Possible

If you’re already represented by a real estate agent, try to visit open houses together as you would a private showing. Your agent can also speak to the listing agent on your behalf – a necessity if you’re serious about making an offer.

“The pleasant and seemingly helpful open house host is not there to represent your best interest. They are there to represent the seller’s best interest,” said Ken Reid, owner of Buyers Brokers of Arizona in an April press release from the National Association of Exclusive Buyer Agents about the importance of having a buyer agent at an open house. “They are there to sell you their client’s home and collect information that will put their client in a better position to negotiate should you decide to make an offer on the home.”

Try for a Private Showing as Well

If you can, schedule a private showing outside of the open house hours. This will give you the chance to take your time and form an opinion without other competing buyers serving as a distraction.

Especially if you expect the home to have multiple offers on its first weekend on the market, try to see the home privately ahead of time. Or, if that’s not possible, attend the open house and schedule a private showing afterward to finalize your opinion. Sheehan notes she has foregone open houses for some current listings simply because there are enough requests for private showings that an open house gets in the way.

Take Notes

If the house meets your needs on paper, take the tour with your checklist of must-haves in mind and point out issues that may be deal-breakers. A crack in the wall or a sign of a possible water leak is worth jotting down to ask the listing agent or an inspector about.

With the market moving as fast as it is, notes will help you remember the pros and cons of each home you tour, which will otherwise start to blend together if you view more than a couple of houses in a day.

Source: realestate.usnews.com ~ By: Devon Thorsby ~ Image: Canva Pro

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SOLD – 1481 Stallion Wy. Turlock

Great Starter Home. Boat or RV Access on this Beautiful Corner Lot with Newer Roof, Newer Stucco, and Newer HVAC System all within the last couple years. Approx. 1342sf with 3 Bedrooms and 2 Full Baths. Big Living and Kitchen Areas. 2 Car Garage. Close to Highway 99 Access, Shopping, and Schools.
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SOLD – 305 S 5th St, Patterson

Fixer In the Desirable and Established Neighborhoods of Patterson. Almost 800sf.  Detached One Car Garage. A huge Lot of over 7400sf with Alley Access.  2 Bedroom and 1 Full Bath.  Here are some Ideas… Built another ADU unit, build a Duplex or more… Please Check with the City on all Possibilities.

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Financial Fundamentals for First-Time Homebuyers

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home.

Build Your Credit

Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run.

So how do you make sure your credit is in the best shape possible when it’s time to buy? A recent article from NerdWallet lists a few tips you can use as you work to build and strengthen your credit. They include:

  • Tracking your credit and disputing any errors that show up on your reports.
  • Paying your bills on time. This includes making loan payments and paying down any open lines of credit.
  • Keeping your credit card balances low. Paying more than your minimum monthly balance when you’re able can help.

Automate Your Savings for Your House Fund

You might also be wondering how you can achieve your down payment savings goals. Bankrate provides buyers with a number of tips to help you save, including searching for down payment assistance programs and ways you can save more, faster. As the article says:

“One of the best ways to save for anything — including a down payment — is to set it and forget it. If you receive a regular paycheck, ask your employer to direct a portion of that payment into a savings account. If you’re a freelance worker or independent contractor, set up a recurring transfer from a checking account to a savings account to establish the routine.”

Get Pre-Approved

As you prepare for your purchase, you’ll also need to have a good grasp on your budget and how much you’ll be able to borrow for your home loan. That’s where the pre-approval process comes in.

Pre-approval from a lender lets you know how much money you can borrow for your home loan. And having that knowledge, plus an understanding of your savings can help you decide on your target price range for a house.

From there, you can start browsing for houses online and see what’s available in your area at that general price point. This can help you really understand your options so you can start to picture your future home.

For Customized Advice, Build a Team of Professionals

Finally, the best way to make you’re prepared for your purchase is to connect with trusted real estate professionals. Having expert advisors in the industry will help you make strong decisions throughout the home-buying process based on your specific goals, finances, and situation. They know the market and can guide you toward the home of your dreams.

Bottom Line

If you’re ready to get the homebuying process started, connect with a local real estate advisor to begin building your team of professionals today.

Source: keepingcurrentmatters.com  ~ Image: Canva Pro

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5 Fox Borough Dr, Oakdale, Lot Size Acres: 0.4626

5 Fox Borough Dr, Oakdale

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$329,900 – Custom LOT, just East of the Oakdale Country Club, in the Hillsborough Estates Custom Homes Subdivision. 0.46 of an ACRE LOT with Oak trees in the Back along the BLUFF. Lot 5 on Fox Borough Drive. Seller’s have plan with Engineering on a 3700 Custom Home Plot.

Property Features

  • Lot Description: Building Pad, Fire Hydrant(s), Street Light(s)
  • Lot Size Acres: 0.4626
  • Lot Size Dimensions: Approx. 0.46 of an Acre Lot
  • Topography: Level
  • Vegetation: Trees Few
  • Lot Size Square Feet: 20151

Exterior and Lot Features

  • Road Frontage Type: City Street
  • Road Responsibility: Public Maintained Road

Home Features

  • View: City, Hills, Woods, Mountains

Homeowners Association

  • Association: Yes
  • Association Fee: 150
  • Association Fee Frequency: Annually
  • Association Fee Includes: Management
  • Calculated Total Monthly Association Fees: 13

School Information

  • School District: Stanislaus

Commercial Info

  • Business Type: Residential

Other Property Info

  • Source Listing Status: Active
  • County: Stanislaus
  • Cross Street: Dillwood Rd.
  • Development Status: Building Site Cleared, Site Plan Approved, Finished Lot(s)
  • Directions: Dillwood off Highway 108. Turn Left on Foxbo
  • Source Property Type: Residential Lot
  • Possible Use: Residential
  • Area: NE County Rural
  • Source Neighborhood: 20203
  • Parcel Number: 010-076-005-000
  • Zoning: Res
  • Zoning Description: Residential
  • Source System Name: C2C

Utilities

  • Electric: Electric Available
  • Cable Available
  • Underground Utilities
  • Internet Available
  • Water Available
  • Phone Available
  • Water Source: Private
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20 Home Renovations That Will Hurt Your Home’s Value

too much wallpaper

Your home isn’t just a source of pride or a place where you can relax after a long day — it’s also an investment in your family’s future.

And while it’s natural to want to make improvements to increase your home’s resale value, some renovations will actually cost you money in the long run. Just because you see something as an improvement doesn’t mean a potential buyer will feel the same way.

Lavish Lighting Fixtures

One common home improvement mistake is falling in love with unique or lavish light fixtures, said Alon Barzilay, founder of real estate development company Urban Conversions.

“Whether it be ceiling-mounted lights in a dining room or a hanging pendant, there is a psychological phenomenon that happens when you go to a lighting store … you’re going to pick something exciting and new instead of picking a new addition that suddenly matches the big picture,” Barzilay said.

Further, the passage of trends works against homeowners. “Whatever is in vogue today will look dated 10 years down the road when you are ready to sell,” he said. “Simple is best. Fortunately, lighting can easily be switched out at a low cost.”

Too Much Wallpaper

With its patterns and texture, wallpaper can be an overwhelming design choice for your home. Plus, it’s notoriously difficult to remove. Homebuyers might view wallpaper removal as a potential headache, and it could be the tipping point for someone who wants a more move-in-ready home.

Fresh paint and neutral colors are always a good idea to help stage your home when it’s on the market. If you do have wallpaper, think about whether it’s beneficial to remove it and repaint the walls before any showings or open houses, so your potential buyers never have to think about your wallpaper mistakes.

Texture on the Walls and Ceilings

Just like wallpaper, texture on walls and ceilings is difficult to remove. Simply knowing that a time-consuming project lies ahead might cause homebuyers to decrease their offer. Think twice before deciding on a fancy textured painting technique, and play around with textured wall décor instead.

Quirky Tiling

Any over-personalized renovation can hurt the value of a home, especially something like tiling, which requires more effort and money to replace, said Bob Gordon, realtor, and blogger at Boulder Real Estate News.

“Many buyers like to upgrade the floors in their homes,” he said. “Adding tile or wood can make an improvement in value — unless you get that person who wants the 1950s diner look and installs black-and-white tile. For their vision, this is the pinnacle of cool. But for a resale value, most homebuyers will see it as a distraction and something they will need to rip out.”

Instead of falling victim to tiling mistakes, consider going with a traditional white tile floor, and buy a rug with the style you’re going for, he recommends. If you don’t want to spend a fortune on a professional to replace the flooring, consider doing this home renovation yourself.

Too Much Carpeting

In an interview with Realtor.com, home remodeling expert Alex Biyevetskiy said that new hardwood floors can increase the sale price of a home by up to 2.5%. Compared to hardwood and laminate floors, carpet can quickly show signs of damage. Plus, colors and textures are highly based on personal preference, and any overly personal touches can decrease a home’s value.

Bright and Bold Paint Colors

Bright and bold paint colors can turn off any potential buyer who might lack a bit of vision. Fortunately, repainting a room before putting your home on the market is an easy fix, albeit an important one. Choose neutral colors to present buyers with a blank canvas, which can help them envision the home in their own style, HGTV recommends.

An Extremely High-End Kitchen

The kitchen is often seen as the heart of a home, and it’s a project many homeowners save up for. The resale value of a major, high-end kitchen remodel is actually less than what you’ll invest in it, however. In 2021, the national average for a major kitchen remodel was $75,571, but the resale value was only $43,364, according to the site Remodeling.

To avoid kitchen renovation mistakes that won’t give you a return on investment, try to focus on which aspects of the kitchen are most outdated or worn. And as tempting as it might be, consider selecting mid-range appliances rather than the expensive high-end options.

A Luxury Bathroom

An upgraded bathroom can certainly add value to a home, but it’s easy to get carried away and take the idea of luxury a little too far. Potential buyers could be scared off by bathroom remodel mistakes like over-personalized finishes and over-the-top whirlpool tubs that are hard to clean and hard for some people to climb into. Instead, consider a walk-in shower, which typically uses less floor space.

A Home Office Conversion

Thanks to improved technology, more professionals have the opportunity to work from home, and some might consider creating a dedicated home office space to get the job done. If the new office was formerly a bedroom, this could be a costly mistake.

Along with removing bedroom furniture, you will likely need to add wall outlets and phone jacks (up to $425) and install new hardware, which could bring the total cost up to $3,000, according to HomeAdvisor. If a prospective buyer would rather have the bedroom space, you spent a lot of money for nothing.

Combining Bedrooms To Create a Bigger Room

Combining two small bedrooms to create a bigger room might seem like a good idea to a young couple with no children or to empty nesters whose children have left the house. But this is a bad move if you don’t plan on staying in that home forever, said Brian Davis, real estate investor and director of education of renting resource SparkRental.

“Even small bedrooms add value to homes, as most families want children to have their own rooms but don’t mind if they’re on the small side,” he said. “In my experience, each bedroom can add about 15% to the value of a home.”

Instead of knocking down walls, try simple tricks to make your bedroom space look bigger, like lighter colors and modern, slim furniture.

Removing Closets

Michele Silverman Bedell, owner of residential agency Silversons, told MarketWatch that she’s seen firsthand how removing a closet to make room for another upgrade, such as a larger bathroom or bedroom, can hurt a home’s resale value.

“People need closets,” Bedell said. “They’ll walk in and count the number of closets per room.”

A Sunroom Addition

A sunroom can be a great space to enjoy the outdoors away from the elements, but according to Remodeling, a sunroom addition is one of the worst home renovations when it comes to returning on investment, with a cost of an addition exceeding approximately $75,000 while only adding just over $35,000 to the value of the house.

Think carefully about how often you’ll use a sunroom before committing to this costly renovation, especially if your home might be on the market soon. Plan ahead to avoid the sneaky expenses that come with renovating your home.

A Built-In Aquarium

A built-in home aquarium can make a home feel fancy and upscale, but it requires constant maintenance and can be costly to remove. Not all potential buyers will want to care for a large tank full of fish or pay for the maintenance that comes along with it. Instead, opt for a standard fish tank to avoid any issues down the line.

Built-In High-End Electronics

An in-house theater is perfect for any movie buff, but built-in or customized electronics that take up space in an otherwise usable room could be off-putting to potential buyers, according to famed home improvement expert Bob Vila. As with all home renovations, personalization can lead to a decrease in home value, and built-in technology that can quickly become outdated is no exception.

A Swimming Pool

Contrary to popular belief, a swimming pool renovation or addition is not the best way to add value to your home. In fact, according to HouseLogic, a swimming pool could increase a home’s value by 7% at most — and that’s only in certain circumstances.

“Unless you live somewhere that’s hot at least six months out of the year, pools are generally more trouble than they’re worth,” Davis said. “The only people who really want them are families with a certain age range of children, so it limits the potential buyers.”

Because of the cost to build a pool, maintenance expenses and a very minor potential value increase, a swimming pool addition simply isn’t worth it for most homeowners.

A Hot Tub

Like swimming pools, hot tubs are a gamble — they take up space and require constant maintenance. Plus, homebuyers with children might consider a hot tub a safety hazard.

If a hot tub is on your list of must-haves for your home, consider a portable hot tub versus a built-in hot tub. You could potentially take it with you when you move, or your home’s new owners can easily remove it if they prefer.

A Garage-to-Gym or Living Space Conversion

For a fitness lover, a garage-to-gym conversion might seem like a wonderful idea. To parents of a millennial who just moved back home, a garage-to-apartment conversion probably seems like a money saver. But future homebuyers might not agree.

Many people search for houses with a garage, and what they’re looking for isn’t a gym or an extra living space — they’re looking for a garage to serve its primary purpose of housing cars and storage items.

If you must use your garage space as a gym or as extra living space, be sure future homeowners can easily and inexpensively remove the renovations.

The Wrong Landscaping Investment

Homeowners are prone to certain devaluing landscaping mistakes in the name of “curb appeal.” Costly landscaping decoration will not increase the value of your home, but rather increase the maintenance required for it. A potential buyer sees this, and it might turn into a concern. Fancy decorative additions that you find attractive are pretty much subjective, as well — including your personal DIY projects.

Keep your gardens beautiful but simple and easy to maintain, and be sure any decorative additions can be easily removed.

Beautiful but Messy Trees

Trees are an important part of any landscape, but it’s important to do your research before planting anything. Beasley recommends that homeowners particularly look out for any trees with leaves or flowers that might create a mess in the yard.

Constant leaf rain is not something that will positively attract a potential homebuyer. When fall comes, they will just know it will give them a hard time.

Trees to stay away from include oak, female Ginkgo biloba, sweet gum, locust tree and Eastern white pine. These messy trees can decrease your curb appeal, and removal can set you back a hefty sum, depending on the tree’s size, Beasley said. Instead, choose an alternative tree, like an Eastern red cedar, crepe myrtle or Colorado blue spruce.

DIY Repairs

Always think twice before getting into the do-it-yourself home improvement game. Gordon said he’s seen several examples of DIY jobs that have decreased a home’s value.

“I’ve seen plenty of houses where you can tell the owner did the work,” he said. “The owner probably feels she made all the right improvements, but buyers quickly see the shoddy workmanship and unusual finished product.”

There are ways you can increase your home’s value with DIY projects, but you need to be strategic. Gordon went on to recommend hiring a pro the first time out.

“Then ask to be a part of the process and learn from the professional as they do the job,” he said.

The bottom line is that any over-personalization of your home can lead to a decrease in value. Yes, you want to live in a space you love, but think twice before investing in any major or costly renovations. And always make sure your home improvements are completed with the proper permits by licensed professionals.

Source: goingbankrates.com ~ By:  Autumn Rose  ~ Image: Canva Pro