Homes for Sale Santa Maria CA Erik Vasquez
Erik Vasquez
Phone: 805-692-2006
Email: erik.vasquez@cph-inc.com
Duration : 0:0:51
Home For Sale in Santa Maria,CA $ 650,000 – Realty Times TV
It’s a Dream Home Raffle! Let your dreams come true! Win this home or $500,000.00! Picture your family owning this home, or what you could do with $500,000.00 cash! All proceeds will benefit Revival Tabernacle a non-profit organization, transforming lives through education and outreach programs. Tickets are ONLY $150.00 Buy your ticket before April 23, 2007 to get in on the early bird drawings, 42 chances to win additional money prizes. Go to WWW.DREAMHOMERAFFLE.ORG for details to buy a ticket.
Listed by Cleona Bautista of Western Vista Real Estate
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How does one buy real estate without any money?
I’ve heard many gurus talk about buying real estate with no money out of pocket. Is this really possible? I want to hear of a strategy that really works not something theoretical.
The gurus have at least enough $$ to make the deposit and handle the settlement closing costs. What they do is apply for the maximum loan based on the value of the property in addition to taking into consideration what they expect rental of the property will cover the monthly mortgage loan pymts, taxes and insurance which the finance books refer to as utilizing LEVERAGE (someone’s else money <= the banks) while tenants are covering the monthly payments etc. There are risks like if the property is vacant as well as maintaining good receipts of the cash flow bec one has to pay taxes…though an invesor will often depreciate what is allowable to bring down their taxable income more.
In real life, it’s not as easy as they claim and real estate is also not liquid meaning if the market changed & got worse, to sell real estate takes time and requires the Seller to pay selling costs etc
Beautiful Traditions Home For Sale in Santa Maria, Ca. 93455
Luxury Living awaits you in this beautiful 3 Bedroom 2 Bath, 2108 Sq Ft home on a 9250 Sq Ft Lot. This home is located in one of Santa Maria’s prestigious neighborhoods with many uprades. Beautifully landscaped front and back. Priced to sell at $539,000. For more information call the realtor, Pat McCoskey at 805-448-9227
Duration : 0:2:18
More Tips for Buying Real Estate in the USA
Now is a good time for Canadians to look at buying property in the USA. Ozzie Jurock outlines some important tips for those looking to buy.
Duration : 0:3:17
How can I buy real estate without much cash?
I don’t have a whole lot of cash to use as a down payment. How can I stop renting and buy a place of my own in the near future? Is this even possible without signing on for a ridiculous interest rate?
You can get 100% financing and typically have the seller contribute up to 3% of the selling price of the house to your closing costs. The only requirement would be that you’d have to have $500 of your own money into the transaction. The interest rates are very comparable to 80% or less financing; there is a .5% charge 97% & 100% financing (usually an 1/8 or 1/4 more in interest rate). The tough part at the high LTV’s can be mortgage insurance. The ways around this is:
1. VA programs and paying the funding fee (good deal)
2. 80/20 loans, usually a savings in payments over MI
3. Community Mortgage programs — This is a great secret that most of us lenders have available. If you take a home buying/home owning course I have programs that I can offer that have reduced MI. The savings can be big.
Why Buy Real Estate?
Are you looking for an investment? Do you need a place to live? Are you trying to reduce your tax bill? Is income producing property for you? Is this the right time to buy? Are property values going up or down or staying the same? There are lots of questions but where do you get the answers? Do you talk to a realtor, accountant, lawyer, financial advisor, uncle Bill or Suze Orman?
The answers to each question will vary from person to person, depending upon each individuals current situation. Why are you considering a property purchase at this time? Your specific objectives and your situation are the primary concern. It is not important why someone else is buying, that’s their business, but what will a real estate purchase do for you? When I travel I usually rent a car for a day or week. It doesn’t make much sense to buy a car for a few days or a week, but when home it is much more convenient and cost effective to own my car and I can accomodate my tastes and prefernces for continual use. Buying or renting a car are both expenses, but with real estate you add the dimension of investment and the possiblility of appreciation.
Real Estate is a commodity much like any other commodity. Prices generally fluctuate up and down based on supply and demand fundamentals and production costs. Remember that fluctuations in supply and demand precede fluctutations in price. Prices appreciate most rapidly when demand is high and available supply is less than the demand. When supply far exceeds demand, then prices will decline. It is important to thoroughly research the market and exercise due diligence before making a purchase decision. You can usually rent a place to live, the decision to purchase should be well researched and timed to maximize your return on investment.
Real Estate is primarily local in nature. If demand is high in Las Vegas and availability is low and prices are rapidly appreciating, does not mean than the same will be true for Boston or Phoenix or even Lake Tahoe. You have to research your target market and get some historical prospective on changes in the market conditions. What is the available inventory level now versus 3 months, 6 months, 1 year or 2 years past. What have prices done during that periord? What were average marketing times for properties sold. Lots and vacant land prices, while related, do not necessarily equate with completed homes or condos. (There may be an excess of condos while a shortage of lots or homes.) This type of information can usually be obtained from a realtor but be sure that the data is statistically accurate from MLS reports or property tax recordings and not an opinion or sales pitch by the agent.
In a perfect world you would always buy low and sell high. In real estate other conditions are also important. Some buyers never plan to sell. Location, convenience or features may be more important that the investment aspects of a purchase. Whatever your situation, do your homework, understand the local market and use that knowledge to your benefit. If there is lots of inventory and you are one of very few buyers, be patient and negotiate for the best possible deal. If the inventory is tight and you are competing with other buyer’s for a property, you may have to pay a premium; just remember that it may be a while before you can turn the property.