209-988-5254 | Century21 Select | DRE #01225017. – Serving Stanislaus, San Joaquin & Merced Counties.
Rare three bedroom, two bathroom condo in Turlock’s Balboa Park! At 1290 sq ft, this spacious condo features granite countertops, updated laminate flooring throughout, indoor laundry room, and a detached garage. In addition to the beautiful home, enjoy all the community amenities such as pool, spa, clubhouse and playground. Balboa Park Condos can be owner-occupied, or rented out as an investment property.
SOLD – This 4 Bedroom Family Home is located in Riverbank. Great Family Residence with Approx. 1935sf, featuring 4 Bedrooms, 3 baths, Laminate Flooring, and a Long Driveway. This Home includes inside Laundry Upstairs, plenty of windows for interior Lighting, Separate Family and Living areas, and a Den. Recent updates include a new water heater, a Newer HVAC system, Fresh Inside and Outside paint, New Grass in the backyard, and Newer Shower Doors. The property is conveniently located near Very Popular Shopping Centers in Riverbank. Big Backyard for Entertaining, Gardening, and Grass area to Play Ball!! A Must See!
Property insurance vs. home insurance. While it’s something many first-time homeowners debate, it’s actually not an either or question. That’s because property insurance is part of your homeowners insurance policy.
Property insurance is a broad term within the insurance industry. It is used to describe all those protections that cover a homeowner’s possessions—things like your home, car, motorcycle or personal items. Whether you live in a house, apartment or condo, you need property insurance.
To better understand property insurance, it’s important to understand another broad industry term: casualty insurance. It’s quite different from property insurance in that it provides you with liability coverage. It helps protect you if you’re found legally responsible for an accident that causes injuries to others or if you damage another person’s property.
Businesses also need to have casualty insurance. For example, if someone comes into your shop and they slip and fall, your business would be covered by a commercial general liability policy.
Together, these two broad areas of insurance are commonly referred to as P&C, which is short for property and casualty. You may have heard that term before.
While we’re discussing what property insurance isn’t, let’s take a quick look at mortgage insurance. A mortgage insurance policy protects your mortgage lender if you’re unable to repay your loan. The cost of mortgage insurance is usually included in your mortgage payment.
It’s important to remember that mortgage insurance is completely separate from property insurance. Mortgage insurance doesn’t cover you, your home or your possessions in any way—just your bank.
Homeowners insurance is a more specific term than property and casualty insurance. It provides you with financial protection in case your home or personal possessions are damaged by a destructive event, such as a fire, wind or theft. Here is a list of the coverages that make up a standard homeowners insurance policy:
For many homeowners, a standard home insurance policy is more than enough coverage. However, you still may want additional protection. Flood insurance, earthquake insurance and umbrella insurance are all extra layers of protection to consider.
A standard home insurance policy does not cover damage caused by flood. For that level of protection, you will need to purchase a separate flood insurance policy.
Flood insurance protects your home and belongings from damage caused by rising water due to flooding. This can be from heavy rain, melting snow or coastal storm surges, among other causes. By comparison, a standard home insurance policy only covers interior water damage. Examples include a burst pipe or water coming through the roof after a prolonged rainstorm.
Similar to flood insurance, earthquake insurance is also a separate policy from your homeowners policy. If an earthquake strikes, it will cover repairs to your home, damage to your personal property, the cost to remove debris and any extra living expenses you might incur while your home is being repaired or rebuilt. Needless to say, you should strongly consider buying earthquake insurance if you live in an area that is prone to earthquakes.
Umbrella insurance is a separate policy that increases your liability limits. This additional financial protection will help you if something unexpected happens. For example, if someone gets injured on your property or you cause damage to someone else’s property, umbrella insurance will protect you.
Highly valuable items, like jewelry, furs and collectibles are only protected by Personal Property coverage up to a certain dollar limit. If you want to purchase more coverage, you can either schedule each item individually or buy a broader blanket coverage.
The best way to protect valuable items such as jewelry or collectibles is to individually schedule each item. This requires you to tell the insurance company up front about each individual item and what you paid for it.
Let’s say you own a lot of expensive jewelry. It would be in your best interest to schedule each piece ahead of time. This way, if they’re damaged in a fire, your carrier already knows the pieces of jewelry you own, the years they were bought and so forth. This will make the claim settlement process go a lot more smoothly.
Blanket coverage is an endorsement that covers multiple pieces of property from the same category, such as jewelry, fine art or silverware. With this type of coverage, you don’t need to provide detail on each piece of property up front. For example, you could simply tell your carrier, “I want $10,000 of blanket jewelry coverage.”
While this type of coverage may be easier to purchase up front, the claim settlement process is usually slower if there’s a loss. That’s because your insurance carrier will ask you to prove that you had those items to begin with.
Source: plymouthrock.com ~ Image: Canva Pro
An escrow account is a secure holding area for money and documents during a real estate transaction. It protects buyers, sellers, and lenders by ensuring no funds or titles change hands until all terms of the sale are met.
Escrow might sound complicated, but it’s one of the most important safeguards during the homebuying process.
Here’s a breakdown of how escrow works, who manages it, and how it protects both sides of the deal.
In real estate, escrow is a legal arrangement where a neutral third party (usually an escrow officer or company) holds important items until the deal officially closes. These items can include the earnest money deposit, the signed purchase agreement, and other transaction documents.
The escrow process ensures that neither the buyer nor the seller is at risk of losing money or ownership if the other party doesn’t fulfill their part of the contract.
The escrow agent is often someone from the real estate closing company, an attorney, or a title search company agent (customs vary by state), says Andy Prasky, a real estate professional with Re/Max Advantage Plus in Twin Cities.
Your agent will
Hold the buyer’s earnest money deposit in a secure escrow account
Collect documents from both parties, such as disclosures and inspection reports
Ensure all contract conditions are met (e.g., home inspection, loan approval)
Disburse funds and finalize the sale once all contingencies are cleared
Once all conditions are met and the transaction is finalized, the escrow officer will record the title transfer, release the funds to the seller, and the buyer will receive ownership of the home.
Escrow fees typically range from 1% to 2% of the home’s purchase price, but the total cost can vary based on location and the complexity of the transaction.
Who pays the escrow fee—the buyer, the seller, or both—depends on your purchase agreement and local customs.
Earnest money—also known as an escrow deposit—is a dollar amount buyers put into an escrow account after a seller accepts their offer. The escrow company holds the money in an escrow account for the duration of the transaction.
Another way to think of it is as a “good-faith” deposit into an escrow account, which will compensate the seller if the buyer breaches the contract and fails to close.
Most homebuyers come up with cash for escrow and deposit it into the escrow account from their own funds. The payment amount is small compared with the cost of the home and the loan, and the homebuyers might not even have a mortgage lender yet when they make an offer on a home.
However, earnest money can be borrowed from your lender, but certain rules apply. First-time buyers are most likely to need to go to their mortgage lender to make this escrow account deposit. Your lender will ultimately count the deposit toward closing costs and the down payment on the house.
Escrow might seem like a pain, but here’s how it can work in your favor.
Let’s say, for example, the buyer had a home inspection contingency and discovered that the roof needed repairs. The seller agrees to fix the roof. However, during the buyer’s final walk-through, she finds that the roof hasn’t been repaired as expected. In this case, the seller won’t see a dime of the buyer’s money until the roof is fixed. Talk about a nice safeguard!
Sellers benefit from escrow, too. Let’s say the buyers get cold feet at the last minute and bail on the transaction. This might be disappointing to the seller, but at the very least, buyers have typically ponied up a sizable chunk of change for their earnest money deposit. This money, often totaling 1% to 2% of the purchase price of a home, has been held in escrow. When buyers back out with no legitimate reason, they forfeit that money to the seller—a decent consolation for the sale’s failure and the expense of making mortgage payments and other expenses while the home was off the market.
After you buy a home, your mortgage lender may set up an escrow account to pay future property-related expenses like the following:
Mortgage insurance (if required)
Each month, a portion of your mortgage payment is deposited into this escrow account. When tax or insurance bills come due, your lender pays them directly using funds from that account.
If you overpay into escrow, you may get a refund check and see a reduction in your monthly payment. If costs increase, your lender might raise your mortgage payments to cover the difference.
Escrow is a safety net in real estate. It ensures that everyone involved (buyer, seller, and lender) has their interests protected, and that money and ownership change hands only when everything is in order.
Whether you’re navigating earnest money, closing costs, or a mortgage escrow account, understanding how this process works can save you stress—and money—during one of the most important financial decisions of your life.
Source: realtor.com ~ By Cathie Ericson ~ Image: Dale Taylor/iStock
SOLD – Gorgeous Single-Story Home in Turlock. This beautifully remodeled single-story home in Turlock offers a fresh new look, complete with modern amenities and lush landscaping. The front courtyard features new fencing and a low-maintenance front yard, perfect for effortless living. Family-Friendly Floor Plan. Spacious Living Areas with Over 1, 800 square feet of living and family spaces with large rooms throughout. New Laminate Flooring: Enhancing the home’s modern appeal. Newer Roof to Ensure durability and protection. Newer Exterior/Interior Paint, Refreshing the entire space. The Kitchen Delights and Equipped with Granite countertops, a spacious Island, and Ample Cabinetry. Perfect for Entertaining: Big patio area for additional outdoor living spaces. 3-Car Garage with plenty of parking space. Inside Laundry. Backyard Oasis with New grass for kids to play, along with secondary patio areas ideal for entertaining. This home is a perfect blend of style, functionality, and family-friendly living. A Must See!
This North Turlock home offers a charming living space with a great room concept, perfect for entertaining. The property is Approx. 1368 sq ft with 3 bedrooms and 2 full baths, with Inside laundry, and a 2-car garage for convenience. Remodeled Kitchen with an Island, Granite Countertops, and Newer Appliances. Remodeled living area with Newer Paint and Stunning Views. Backyard amenities include new concrete pads, 7-foot fences, a storage shed, and fresh landscaping. The master bedroom boasts double sinks, a large shower stall, and a walk-in closet. The home is situated to overlook the Country View, providing a picturesque setting. Walking Distance to Dennis Earl Elementary. A Must See!!
Charming 3-Bedroom Home in Desirable Bristol Park! This beautiful 3-bedroom, 2.5-bath home in the sought-after Bristol Park neighborhood offers an ideal blend of comfort and practicality. The spacious floor plan includes formal living and dining rooms, along with a cozy family room. The inviting kitchen features an island, pantry closet, breakfast nook, and a convenient dining bar. Key Features includes Primary Suite Retreat with large walk-in closet, luxurious bathroom with double sinks, a jacuzzi tub, shower stall, and bidet. Plus, enjoy direct access to the backyard for ultimate relaxation. A Jack & Jill Bath is conveniently located between two of the bedrooms, this bathroom offers double sinks, making it perfect for sharing. The backyard is an entertainer’s delight with a unique spool (combination pool and spa), fruit trees, and plenty of space for outdoor activities. The shed provides extra storage. The 3-Car Garage features a drive-through design for easy backyard access, plus a fully equipped kitchen setup with electric stove, fridge, sink, and cabinets perfect for outdoor cooking or hobbies. A inside utility room is also featured. This home is across directly across from Bristol Park.
Luxurious Newer Home in Denair. This fabulous newer home in Denair presents in pristine condition, giving the impression and ambiance that it’s never been lived in. With approximately 1, 648 square feet of living space, this property offers both style and comfort throughout. Enormous great room that flows into an inviting kitchen. Stunning kitchen with large quartz island providing ample counter space. Abundant cabinetry perfect for cooking enthusiasts. 3 stylish and comfortable bedrooms. Convenient indoor laundry room. Practical butler’s pantry. 2-car garage. Potential RV storage space on the side yard. Spacious backyard offering endless possibilities for personalization. This property combines luxury with practical living spaces, making it an ideal home for those seeking both elegance and functionality in the desirable Denair area. A Must See!!