1635976943342574 UA-72458003-1 google-site-verification=bpkXPmzUUBtm0pA_hz68HRCFRNqdIA9eF18eNT7U93w Why Fodor's Travel Says The 'Best Traces of Hip-Hop Culture Are Found Everywhere in Oakland' https://youtu.be/aTsDXAtfXdI

Six Reasons to Own a Home – www.carlosfcamargo.net

Six Reasons to Own a Home – www.carlosfcamargo.net1. #HAPPINESSThe feeling of owning your own home is unmatched. You can fix it up, make it your own, get a dog, or plant a tree if you want. Doesn't that sound exciting!2. #TAXSAVINGSThe government rewards homeowners by providing excellent tax benefits. The interest paid on your mortgage and other home-related expenses can generally be deducted from your income.3. #APPRECIATIONHome values have a well-documented history of going up over time. This increase becomes equity you can benefit from when you refinance or sell.4. #EQUITYRenting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes toward the principal balance on your loan. This builds your equity and acts as a savings account.5. #ROOTSPeople who own rather than rent stay in their homes 4 times longer. This provides an opportunity to get to know your neighbors and connect with your local community.6. #EDUCATIONResearch shows children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.Conclusion:If you want stability, a sound investment, and a big yearly tax break consider buying property. www.carlosfcamargo.netWhy I should be your #REALTOR® ww.carlosfcamargo.NET#SFBayArea #contracostacounty #alamedacounty #Realtor #HouseExpert #NewHome #housing #BHGRE #CarlosFCamargoPhD #RealEstate #NoPlaceLikeHome_EastBay #Homeowners #downpayment #homebuyer

Posted by Carlos Fernando Camargo on Monday, December 2, 2019

1. #HAPPINESS

The feeling of owning your own home is unmatched. You can fix it up, make it your own, get a dog, or plant a tree if you want. Doesn’t that sound exciting!

2. #TAXSAVINGS

The government rewards homeowners by providing excellent tax benefits. The interest paid on your mortgage and other home-related expenses can generally be deducted from your income.

3. #APPRECIATION

Home values have a well-documented history of going up over time. This increase becomes equity you can benefit from when you refinance or sell.

4. #EQUITY

Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes toward the principal balance on your loan. This builds your equity and acts as a savings account.

5. #ROOTS

People who own rather than rent stay in their homes 4 times longer. This provides an opportunity to get to know your neighbors and connect with your local community.

6. #EDUCATION

Research shows children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.

Conclusion: If you want stability, a sound investment, and a big yearly tax break consider buying property. www.carlosfcamargo.net

Why I should be your #REALTOR® ww.carlosfcamargo.NET

#SFBayArea #contracostacounty #alamedacounty #Realtor #HouseExpert #NewHome #housing #BHGRE #CarlosFCamargoPhD #RealEstate #NoPlaceLikeHome_EastBay #Homeowners #downpayment #homebuyer

Posted on December 2, 2019 at 3:21 PM
Carlos Camargo | Category: Buying a House, Credit & Home Finance, First-time Buyer, Investment Property

Homeownership Has Its Benefits

10 Benefits of Owning Your Own Home

Homeownership is a rite of passage many of us dream of. Owning a home means putting down roots and having a space that is truly yours. It’s a significant moment of your life when you finally own a home.


But owning a home can be daunting because of the responsibilities and obligations that come with it, combined with the initial process it takes to get there. When done properly, though, buying and owning a home is a process that limits your financial risk, increases your investment power, and saves you tons of money over the long term—and it can even save you money immediately.

 

Renting has little to no ROI. Renters don’t have to worry about maintaining a residence or paying the mortgage. But if you’ve been renting long term, chances are you’re already performing home maintenance on some level and you’re at your landlord’s mercy when it comes to major repairs. And when it comes to paying the mortgage, there are many advantages over rental payments, which don’t provide any return on investment beyond securing a place to live through the end of the month or lease.

 

How much is rent actually costing you? Consider the amount one pays over a 10-year period. A $2500/month rental payment adds up quickly to a whopping $300,000 over 10 years, when the same amount of money could have gone toward reducing 1/3 of the debt on a 30-year home mortgage by essentially making the payments to yourself instead of a landlord. Wow!

Here are 9 more benefits to owning your own home:

1. Homeownership is an investment. Unlike a car and many other purchases that decrease in value, a home is a purchase that appreciates over time. While each local market has its own unique factors, the national median home price goes up each year, even in times of recession. As you pay your mortgage each month, your debt amount goes down, while the value of your home continues to rise. This creates the buying and reinvestment power better known as equity.

 

2. Gain equity. When it comes to homeownership, investment and equity are directly related. As you make mortgage payments each month, part of the payment goes toward the interest, while the rest pays down the principal balance. Equity can be better defined as the part of the principal balance you’ve already paid, or the percentage of your home you already own. Paying the principal is like depositing money in the bank, because that money becomes available for reinvestment in the home itself or a new home.

 

3. Take advantage of tax benefits. The federal government encourages homeownership (which in turn encourages economic growth) by offering tax incentives for homeowners. The biggest one is the option to deduct interest from mortgage payments on your income tax return, especially at the start of a mortgage when most of the payment is applied to the interest. Payments on private mortgage insurance (PMI) and certain home-related purchases also qualify for tax benefits.

 

4. Stabilize your housing costs. A fixed-rate mortgage means you’ll have the same mortgage payment for the term of the loan (usually 30 years), while monthly rental payments will continue to climb. And even adjustable-rate mortgages (ARM) have a fixed cap on them. Homeownership also stabilizes other home-related expenses like utilities and gives you more control over your ability to make investments in your property that keep those expenses down.

 

5. Gain control over your living space. Renting doesn’t usually come with a lot of options for modifying your living space to better suit your needs. Renters with changing needs must also deal with changing residences. Homeownership means you can make improvements to your home, and home improvements usually lead to increased home value, both financially and in daily home life. The power of equity can give homeowners the extra financing they need to reinvest in their homes when cash funds aren’t an option.

 

6. Increase your own sustainability. Homeownership can help you create a sustainable future in many different ways. Long-term renters lack sustainability because a high percentage of their income usually goes toward housing expenses that are constantly increasing. Locking yourself into a mortgage payment helps level out living expenses, so when income goes up it can be budgeted elsewhere. Paying off a mortgage allows homeowners a long-term plan to significantly reduce their living expenses as they move toward a retirement budget.

 

7. Stop moving. Homeownership increases sustainability and stability. Moving from rental to rental is a major inconvenience and a financial and emotional burden. Renting can mean that you never really know where you’ll be living next or what your expenses will be. Staying in the same home allows a financial and emotional investment in both your living space and your community.

 

8. Social benefits. Staying put for longer periods of time also creates social benefits that range from friendships with neighbors to community involvement and consistent educational opportunities for children.

 

9. Use your investment to make another investment. The equity that comes from paying a mortgage is what allows many individuals and families to make future investments in the same home, a higher-valued home, or second home. A home equity line of credit helps homeowners use the part of their home that’s already paid off to obtain financing for investments apart from the home itself, such as purchasing a boat or RV.

Homeownership comes with a bevy of benefits; these are only a handful. What other benefits have you experienced with homeownership? What makes you want to own your own home?

 

Posted on October 29, 2019 at 3:19 AM
Carlos Camargo | Category: Buying a House, Fair Housing, First-time Buyer, Investment Property, Newsletter-CFC, Real Estate Market Update

HOUSING PRICE-TO-INCOME RATIOS

HOUSING PRICE-TO-INCOME RATIOS

The Housing Price-to-Income Ratio is an interesting and important measurement of housing valuation and affordability.

When purchasing an asset – whether it is a company through an acquisition or a home, there are two primary decisions to be made:

Investment Decision: What is the value of this asset that is being purchased? In an acquisition, this measurement can be made by using the “price-to-earnings”, or P/E ratio. This is how much is paid for each dollar of earnings generated by the asset. The higher the P/E ratio, the more expensive the asset. The value paid may be deemed reasonable if the asset’s value in the future is expected to rise more rapidly than assets with a lower P/E ratio.

Financing Decision: How will the purchase of this asset be financed? For an acquisition, it may be new equity through issuance of stock or it may involve debt. Measurements may include years to payback based upon cash flows or earnings contribution after financing costs.

For the “investment decision” for a home purchase, the P/E ratio depicts the number of years of family or household income that will be invested to purchase a home. A high Housing Price-to-Income Ratio may depict a housing market that home prices are expected to continue to grow rapidly or it may indicate a housing market that is over-valued. For the “financing decision”, the prospective homeowner will measure the percentage of the financing costs are to the family’s income.

Similarly, from an affordability perspective, the more years of family or household income that one must invest to purchase a home indicates lesser affordability. In this case, the family or homeowner must divert more of their income to paying for the home rather than saving or investing in other assets (e.g., 401k, investment portfolio, etc.).

Below are various charts that show the Price-to-Income Ratio for metropolitan areas across the U.S. The average for the U.S. is 3.7X. That is, it median purchase price of a home consumes 3.7 times the median family income. The U.S. average is shaded in dark blue. The green shaded bars represent markets where the average Price-to-Income Ratio is below the U.S. average. The red shaded bars represent markets where the average Price-to-Income Ratio exceeds the U.S. average.

Posted on October 12, 2019 at 6:24 PM
Carlos Camargo | Category: Buying a House, Credit & Home Finance, First-time Buyer, Glossary of Housing & RE Terms

CFC’S COMPLETE BUYER’S PACKET FOR FALL 2019 – EAST BAY

THE COMPLETE BUYER’S PACKET

I’ve assembled my clients’ favorite buyer documents in one easy-to-read download, making this the Perfect Buyer’s Packet.
This buyer’s packet includes:
  • The Buyer’s Questionnaire,
  • Real Estate Terminology,
  • Benefits of Home Ownership,
  • The House Hunting Checklist, and
  • The Home Buyer’s Roadmap.

 

Why you should choose me to be your Buyer’s Agent?  www.carlosfcamargo.net
For most families, choosing a new home is the biggest financial decision they will ever make. There are many complicated decisions involved in choosing your new home. To protect your interests and assure that you make the best possible decisions, it’s important that you have an agent on your side who is an expert in the local real estate market.

As your agent, my focus is on getting you the best possible home at the best possible price. I will work hard not only in finding you potential new homes to see, but also in keeping you informed of everything that takes place. As your agent and a top expert in the local market, I’ll negotiate the best prices and terms for you and answer all of your questions as they arise. I’ll be representing you, not the seller. This assures that my experience and expertise in the local market will be used in your best interests during the negotiation process.

As your agent, I will:

@ Assure that you see all the properties in the area that meet your criteria. Not just those listed on the local MLS, but also many un-listed properties that I find through my local contacts and affiliations.

@ Guide you through the entire process, from finding homes to look at, to getting the best financing.

@ Make sure you don’t pay too much for your new home. As a real estate expert in this area, I help people negotiate and make home purchase decisions every day. I can help you avoid costly mistakes.

@ Answer all of your questions about the local market area. Not just about homes for sale, but about schools, market trends, neighborhoods, the local economy and more.

Let me help you find your dream home and assure your best interests are protected throughout the entire process. Feel free to call or e-mail me with any questions you may have at any time. Fill out this form and I’ll get back to you right away.

Looking to buy a home this year? I can help? Email me at Carlos.Camargo@BHGhome.com

Posted on October 10, 2019 at 7:03 PM
Carlos Camargo | Category: Buying a House, First-time Buyer, Real Estate Market Update

6 REASONS WHY FALL MAY BE THE BEST TIME TO BUY A HOME IN THE BAY AREA

Traditionally, spring is considered peak season in the Bay Area real estate market. Families with school-aged children find it less disruptive to move over the summer. Spring is also a time when people are eager to get outside and properties usually look their best.
On the flip side, however, there are a number of good reasons for homebuyers to hold off until fall:

1. Sellers are Motivated

If they weren’t, they’d probably hold off until spring, since April is the best month to sell a home. By fall, sellers who were “testing the waters” with a listing in prime selling season are either eliminated or are now serious sellers.

These motivated sellers often want to get things settled before the end of the year, completing their own move before the holidays. Living “in limbo” for several months can be exhausting and provides another motivating factor.

The longer a house has been on the market, the more likely a seller is willing to negotiate on everything from price, to closing costs, to move-in dates.

2. There are Fewer Buyers

Potential buyers with children are less likely to be in the market once school has started. Other autumn buyers may become hampered by inclement weather, shorter daylight hours, and holiday demands. If you are flexible, less competition in the fall can pay off for you!

3. Lower Home Prices

October may be the best month to buy a home. After reviewing 32 million sales of single family homes over a 15-year period, RealtyTrac found that properties that went under contract in the month of October sold for an average of 2.6 percent below estimated full market value.

While pointing out that specific results vary by location, RealtyTrac found that October also had more “best days” to buy than any other month in the year. Among the top 10 best days to buy, all but two were in the last quarter of the year:

4. The Focus is On You

During prime selling months, everyone involved in real estate transactions tends to be swamped. In fall, however, real estate agents, lenders, inspectors, title companies, moving companies, etc., experience a lighter schedule, giving them more time and energy to focus on helping you. In general, their response time will be improved and your experience may be less stressful and more snag-free.

5. Tax Advantages

Even if you close on the last day of the year, you can apply the property taxes you paid and any interest or points (pre-paid interest to lower interest rates) on a home purchase to offset your income for that entire calendar year. This could be a significant advantage when April rolls around.

Consult with your tax or financial planning professional to determine how to leverage the timing details and other aspects of your purchase to your benefit.

6. Needed Changes and Upgrades May be Cheaper

If you are purchasing a house that needs new carpet, paint, appliances or other upgrades, buying in the fall may save you money beyond the purchase price of the home. Many of these items are at their lowest prices in the fall. According to Consumer Reports, September is the best time to buy paint and carpeting and the best time to purchase major appliances is November and December.

With careful negotiation, you may be able to get price concessions from the seller on cosmetic issues like worn carpeting, faded wall paint, or outdated appliances that exceed the cost of the upgrades, saving money on the cost of the house and getting brand new paint, carpet and/or appliances at the same time!

Additionally, September is the best time to get deals on snow blowers as well as outdoor plants, shrubs, flowers, and trees. September and October are the best time to buy lawn mowers and tractors. The savings can really add up, leaving you with a bit more cash to cover other expenses.

The Best Time To Buy Varies By Location

Remember that the advantages of buying in the fall may be diminished in certain markets. For instance, in Florida where I grew up, you may find yourself competing with “snowbirds” looking to purchase in the area, making fall months less of a buyer’s market than in northern locations.

Posted on September 19, 2019 at 9:56 PM
Carlos Camargo | Category: Buying a House, First-time Buyer, Real Estate Market Update

REAL ESTATE ADVISOR: SEPTEMBER 2019 –  Down payment got you down?

Down payment got you down?

Ten things to know before buying a home

• LOOKING TO BUY OR SELL A HOME IN THE EAST BAY? I can help! Visit ===> www.carlosfcamargo.net 

Posted on September 11, 2019 at 5:54 PM
Carlos Camargo | Category: Buying a House, Credit & Home Finance, First-time Buyer, Glossary of Housing & RE Terms, Real Estate Market Update

Getting Ready for Fall Home Shopping? Plan for Success.

Preparing for Home-Buying Success this Fall!

There are five basic ground rules that you must know when it comes to buying a home and shopping smart, and they are ….

There are few purchases in life that carry the financial and psychological weight of buying a home. Whether you are buying your first home, moving up to your dream home, or downsizing your home and your life after the kids have gone, it is important to understand the ground rules for success in the world of buying a home.

Making the wrong decision in buying a home can have devastating and long lasting effects, while making a wise decision in home buying can greatly enhance the overall value of the investment. It is necessary to learn all you can about the world of home buying and mortgages before setting out to purchase the home of your dreams.

While there are plenty of web sites designed to help first time homeowners learn all they can, most financial experts say that there is no substitute for the good old one-on-one learning. Fortunately, most mortgage lenders, home inspectors and real estate agents will be able to provide this kind of one-on-one learning.

When buying a home it is often best to use a systematic approach as this is often the best way to be sure that all decisions are based on information and reason, not on impulse or emotion. Buying a home can be an emotional process, nevertheless it is imperative to keep your emotions under control and not let them cloud your judgment.

The Home Buying Process ExplainedREADY TO BUY OR SELL SOME REAL ESTATE?🏠 Visit: www.carlosfcamargo.net | Call: 510.798.5016#BHGRE #CarlosFCamargoPhD #RealEstate #RealEstateAgent #RealEstateBroker #RealEstateLife #NoPlaceLikeHome_EastBay #OaklandCA #Realtor #RealEstateForSale #RealEstateExpert #Broker #HomeForSale #HouseForSale #PropertyForSale #realestatemarket #HouseHunting #ExpectBetter #BHGRealEstate #bayarea #BHGReliancePartners #contracostacounty #alamedacounty #reliancepartnersbhgre #RealEstateLifeStyle #RealEstateTips #successtips #home #HomeDecor #HomeDesign

Posted by Carlos Fernando Camargo on Friday, September 6, 2019

There are five basic ground rules when it comes to buying a home and shopping smart, and they are:

#1 – Get your financing before you get your home

There are few things in life as disappointing as losing out on the home of your dreams due to not being able to secure funding. While the desire to get out there are search for that great home is understandable, it is vital to line up the financing you will need before you start shopping for a home.

Getting the financing ahead of time has a number of important advantages, including knowing how much you can buy and gaining more respect from real estate agents. By knowing how much home you can afford before you shop you will avoid wasting your time looking at unaffordable properties, and the real estate agent will be more than willing to show you the homes in your price range.

It is also important to take a good look at the various types of mortgage on the market before getting started in the home buying process. These days, mortgages come in far more choices than the typical 15 or 30 year. For that reason, potential home buyers need to understand how each type of mortgage works, and to gauge which mortgage is the best choice for their needs.

#2 – Look at the community, not just the home

It is a good idea to look at the entire community, instead of focusing on a single home. This can be a particularly important thing to consider for those moving to a new metropolitan area, as these buyers will be unfamiliar with the local climate and lifestyle. It is crucial to determine the areas of town that are most desirable, and to consider things like distance from work and local shopping opportunities.

We have all heard that location is the key consideration when it comes to real estate, and that is certainly the case. Buying a house in the wrong area can be a big mistake, and it is important to choose the location as well as the home. Potential buyers can learn a great deal about the nature of the various neighborhoods simply by driving around town, as well as by talking to other residents.

#3 – Be fair with your first offer

Trying to lowball a seller on the first offer can backfire, as can paying too much. It is important to carefully evaluate the local market, and to compare the asking price of the home with what similar houses in the neighborhood have sold for.

Comparing the sales of comparable homes, what are known as “comps” in the industry, is one of the best ways to determine what is fair, and to make sure that you neither overpay or underbid on the property.

#4 – Always get a home inspection

Always investigate the home for any possible defects before making an offer. Compared to the cost of the average home, the price of a quality home inspection is virtually negligible. Hence, get a good home inspection done before you buy.

To find the best home inspector, it is a good idea to seek out word of mouth referrals as many of the best home inspectors rely on word of mouth advertising.

#5 – Do not alienate the sellers of the home

Many real estate deals have fallen apart due to the personal animosity of the buyer and the seller. It is important to avoid alienating the seller of the home during the process, and to avoid nitpicking every little detail during the sale.

Keeping the good will of the seller will help the transaction go smoothly, and it will provide the best environment for seller and buyer alike.

No alt text provided for this image

If you’re thinking of buying, give me a call at 510-798-5016 and I can connect you with a local lender or mortgage broker who can guide you through securing the financing you’ll need so we can start shopping for your new home.

No alt text provided for this image
Posted on September 10, 2019 at 11:58 PM
Carlos Camargo | Category: Buying a House, First-time Buyer

First Time Home Buyer? 10 Facts No One Tells You

First Time Home Buyer? Ten Facts No One Tells You

Buying your first home can feel like both the best of times and the worst of times. Here are 10 facts nobody tells you when you’re buying your first home.

1. Something will go wrong

No move is ever perfect. Something will get broken or there will be something you’ve forgotten to bring or do. With any luck, the setback will be minor, and you can chalk it up to the old adage, “things happen.”

2. Some of your conditions might not be met

One of the least enforceable clauses in offers to purchase is one for cleaning requests. You can stipulate that carpets, refrigerators and ovens be cleaned. However, if they haven’t been, there is often very little that you can do about it.

If a major repair hasn’t been completed as promised, one of two things will happen: you either won’t take possession of the property on the day you planned or your funds will have to be placed in escrow pending resolution of the issue.

3. If you don’t have the closing fees, you don’t get your new home

Closing costs and legal fees are due on closing, and your funds won’t be released to the seller unless your closing-vendors (PSL, Sidewalk, Soft-Storey, Pest home service providers) are paid. Closing costs usually range from two to five percent of the purchase price, but be sure to verify this information before arriving on closing day. This money is in addition to your down payment.

4. Good schools increase a home’s value

You’ll pay more for a house in a good school district. Of course, the good news is you’ll get more for it when you decide to sell. If the home you’re planning to buy is your “forever” home and you don’t have, or plan to have children, this may not matter. Still, it’s something to think about.

5. Your neighborhood may be about to change drastically

The municipality may be planning a park, a school, or a playground for your area. Depending on your lifestyle, that can mean profound changes in a short period of time. Check with local administration and the area’s local representative. The first can tell you what the plan is. The latter will have a far better grasp of whether outlined timelines are accurate or not. You can base your decision on the information they provide.

6. You need to read all the documents yourself

It’s tempting when you’re paying a lawyer to review HOA or condo documents to simply delegate this task. However, a close reading of the minutes of meetings will teach you a lot about your neighbors-to-be and help you avoid nasty surprises, like planned increases in fees or devolving renovations that used to be the condo board, or HOA’s responsibility to individual owners.

7. Don’t apply for other credit while mortgage shopping

Applying for a loan or another credit card may seem like a good idea when you’re about to take the home ownership plunge and know you’re going to need to buy things like garden tools, a gazebo, and a grill. Don’t do it unless absolutely necessary. It can negatively affect not only the amount of your pre-approved mortgage, but it can also mean you don’t get pre-approval. Wait until after you’ve bought your home to apply for more credit.

8. You’re going to need “earnest” money

Also known as a deposit, you’ll likely need about $2000 per $125,000 worth of house available when you make an offer. This money is required as a show of good faith and will be held in escrow. You’ll get it back if your offer isn’t accepted, or it may be applied to your down payment. You may forfeit this money, though, if you’re the one who withdraws from the deal.

9. Your neighbors-to-be may be your best source of information

Walk around the area you where you want to live. If you see people out gardening or mowing their lawns, talk to them. Strike up a conversation and explain that you’re thinking of buying. Ask receptive individuals what the neighborhood is like, how long they’ve lived there, and how long they’re planning to stay. If you learn that your new home is located next door to some party animals who blast music every single summer evening, you may not enjoy your own backyard, so you may want to reconsider.

10. Check for rebates you may be entitled to

You may qualify for first-time homeowner rebates. There may be other municipal, state, or utility-provider rebates available, too. Start investigating early. It may make more sense to invest in attic insulation than an air conditioner if you’re going to get a rebate that covers some or all the cost of the insulation. Some areas offer rebates on newer, more energy-efficient appliances. You won’t know that unless you do your homework.

A good real estate agent can talk you through the buying process. Now you’re already ahead of the game with these ten facts nobody tells you, and you’ll be able to focus on offer strategy rather than the fundamentals.

BUY VS. RENT

BUY VS. RENT – Should you buy your home or rent it? This is an age-old debate that really has no right or wrong answer because it depends on each individual. For some, buying makes more sense, and for others, renting is the best fit.🏠 LOOKING TO BUY OR SELL A HOME IN THE EAST BAY?🏠 Visit: www.carlosfcamargo.net | Call: 510.798.5016#BHGRE #CarlosFCamargoPhD #RealEstate #RealEstateAgent #RealEstateBroker #RealEstateLife #NoPlaceLikeHome_EastBay #OaklandCA #Realtor #RealEstateForSale #RealEstateExpert #Broker #HomeForSale #HouseForSale #PropertyForSale #realestatemarket #HouseHunting #ExpectBetter #BHGRealEstate #bayarea #BHGReliancePartners #contracostacounty #alamedacounty #reliancepartnersbhgre #RealEstateLifeStyle #RealEstateTips #successtips #home #HomeDecor #HomeDesign

Posted by Carlos Camargo on Thursday, August 29, 2019

Posted on September 3, 2019 at 2:33 AM
Carlos Camargo | Category: Buying a House, Credit & Home Finance, First-time Buyer

1st Half of 2019 – California Housing Affordability

2019-Q2 CA Housing Affordability – https://lnkd.in/eE2k2_J

The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in second-quarter 2019 dipped to 30% from 32% in the first quarter of 2019 but was up from 26% in the second quarter a year ago, according to C.A.R.’s Traditional Housing Affordability Index (HAI). California’s housing affordability index hit a peak of 56 percent in the second quarter of 2012.

C.A.R.’s HAI measures the percentage of all households that can afford to purchase a median-priced, single-family home in California. C.A.R. also reports affordability indices for regions and select counties within the state. The index is considered the most fundamental measure of housing well-being for home buyers in the state.

A minimum annual income of $122,960 was needed to qualify for the purchase of a $608,660 statewide median-priced, existing single-family home in the second quarter of 2019. The monthly payment, including taxes and insurance on a 30-year, fixed-rate loan, would be $3,070, assuming a 20% down payment and an effective composite interest rate of 4.17%. composite interest rate was 4.62% in first-quarter 2019 and 4.70% 2Q-19

🏠 LOOKING TO BUY OR SELL A HOME IN THE EAST BAY?
🏠 Visit: www.carlosfcamargo.net | Call: 510.798.5016

#BHGRE #CarlosFCamargoPhD #RealEstate #RealEstateAgent#RealEstateBroker #RealEstateLife #NoPlaceLikeHome_EastBay#OaklandCA #Realtor

Posted on August 30, 2019 at 9:10 PM
Carlos Camargo | Category: Buying a House, Credit & Home Finance, Español - Comprar Vivienda, First-time Buyer, N.A.R. - C.A.R. Update, Real Estate Market Update

Monthly Real Estate Statistical Update (September 2019)

Monthly Real Estate Statistical Update (September 2019):

Homeownership demographics struggle

+ The homeownership decline hits young homeowners hardest

+ Student loan debt holds back homeownership for the young

+ Negative immigration to continue chipping away at home sales

 

#BHGRE #CarlosFCamargoPhD #RealEstate #RealEstateAgent#RealEstateBroker #RealEstateLife #NoPlaceLikeHome_EastBay#OaklandCA #Realtor #RealEstateForSale #RealEstateExpert #Broker#HomeForSale #HouseForSale #PropertyForSale #realestatemarket#HouseHunting #ExpectBetter #BHGRealEstate #bayarea#BHGReliancePartners #contracostacounty #alamedacounty#reliancepartnersbhgre #RealEstateLifeStyle #RealEstateTips#successtips #home #HomeDecor #HomeDesign

Posted on August 30, 2019 at 1:24 PM
Carlos Camargo | Category: Buying a House, First-time Buyer, Real Estate Market Update