Owning Your First Home

Redding Real Estate ~ First Time Buyers ~ Opportunity In This Market!

Prices have come down and interest rates are attractive. We have down payment assistance programs that may help to get you in a home if you qualify. We have lower prices and good financing available through FHA, CalVet and VA loans.

Very attractive interest rates make this a good opportunity for you to purchase your first home. We specialize in helping first-time home buyers find their perfect home. Call today and let’s get started working on finding you that “perfect” property. You really cannot afford to let this opportunity pass you by. The real estate market is more affordable and interest rates are at very attractive lows.

Buyers that understand a declining real estate market will know that the a home which is in excellent condition, in a good location and priced correctly (just under market value) will not be purchased for a low ball price. These homes are not short sales nor foreclosures and the market value remains stable within the current market . After spending time with your Realtor looking at homes you will begin to have a feel for market value and when the attractive combination of a “good buy” comes together (Price, Condition and Location). Your investment in researching the internet and your local market will help you be knowledgeable about making this very important decision. Once you have identified the area you want to purchase in, become knowledge about this specific neighborhood and the market value of the homes within the specific area.

Short Sale Opportunities–A short sale is a property that is what we call “upside down” in the market. The owner owes more money on the property than the property is worth in the current market. The short sale property will be on the market for less than market value.  This provides opportunity for Buyers in this current market. It is important to understand some important aspects of short sales for your success. A short sale is all about the numbers to the lender. They are most concerned with the bottom line amount of money that they will save or loose on the property. The formula on a short sale is typically 10% below market value. The listing agent on a short sale is looking for the Buyer to come in close to listing price. The lender will not approve the sale unless the offer is within a reasonable range of 10%. The Buyer will also be expected to purchase the property in an “AS IS” condition. They Buyer will also have higher closing costs and be required to purchase the Home Warranty. The sale is subject to the lenders approval. There is opportunity with short sales if listed properly. Working with an experienced Realtor will help you determine the investment opportunity and the market value of the opportunity.

Foreclosure Opportunities–REOs are Real Estate Owned property that have been foreclosed upon. The bank now owns the property. Typically, they will not negotiate or accept offers that are of a “low ball” nature. They will not provide disclosures and the property is generally sold in an “AS IS” condition. Foreclosures vary in terms of what opportunities they present. Working with a knowledgeable Realtor or Real Estate Agent can help you determine the market value for this specific home in it’s current condition. This will help you determine your opportunity. Your own investment in understanding the market will benefit you greatly in correctly investing in REOs. The stronger an offer the more likely the bank will negotiate. An all cash offer, will tend to move the bank on price.

To help our Buyers we list foreclosures and short sales on our websites for your convenience. You can look through the current list of foreclosures and short sales and we can discuss other “good buys” that are on the market and afford opportunity. Call today and we can talk about Redding CA Real Estate and the Great Deals that are available.

Redding Real Estate ~ First Time Buyers Have Great Opportunity in this market at this time!

WE CAN HELP! We provide you our main real estate website for all your Redding Real Estate needs. We also provide a Luxury Market website for those clients looking for Redding Luxury Homes of extraordinary elegance. We also offer the entire Shasta County MLS by Price for you view convenience and we offer for those investors and first time home buyers a website dedicated to short sale and foreclosure listings and information.

SEND FOR A RELOCATION PACKAGE TODAY. CALL AND WE’LL TELL YOU ALL ABOUT OUR AREA.

Call today for a free Comparable Market Analysis (CMA) on your home or your investment property and we can talk about Redding Real Estate.

Jeanean Gendron is a Realtor with Real Estate Professionals, GMAC. I specialize in helping my clients use the internet to buy and sell Redding Real Estate. I help clients with technology tools to sell homes and to help buyers find homes that fit their defined goals. Visit our websites and blog today and learn all about the Redding Real Estate Market and Shasta County, California. You will love it and we will love having you here! Call today, we can help you. Visit our blog today and get the latest real estate news and trends. I always answer my phone. 530 276-7417. Copyright 2008, Jeanean Gendron. All Rights Reserved.

Shasta County MLS Listings by Price ~ Short Sale and Foreclosure Listings ~ Redding and Shasta County’s Total Real Estate Resource

Visit these websites to learn more about Redding and Shasta County Real Estate.

Jeanean Gendron, Your Redding and Shasta County Specialist

Visit these Dedicated Websites for Jeanean’s Listings

www.ForeverSunsets.com

www.13400LarkCourt.com

www.CountryClubLifestyle.com

www.ElegantVictorian.com

www.ChurnCreekHome.com

www.BungalowDelight.com

www.7058MarieLane.com

www.BassPondView.com

www.CloverCreekOakRun.com

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How Much Is My Home Worth Search all Homes in Shasta County Dream Home Finder

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Redding Real Estate ~ First Time Buyers Have New Opportunity!

Prices have come down and interest rates are attractive. We have down payment assistance programs that may help to get you in a home if you qualify. We have lower prices and good financing available through FHA, CalVet and VA loans.

Very attractive interest rates make this a good opportunity for you to purchase your first home. We specialize in helping first-time home buyers find their perfect home. Call today and let’s get started working on finding you that “perfect” property. You really cannot afford to let this opportunity pass you by. The real estate market is more affordable and interest rates are at very attractive lows.

Buyers that understand a declining real estate market will know that the a home which is in excellent condition, in a good location and priced correctly (just under market value) will not be purchased for a low ball price. These homes are not short sales nor foreclosures and the market value remains stable within the current market . After spending time with your Realtor looking at homes you will begin to have a feel for market value and when the attractive combination of a “good buy” comes together (Price, Condition and Location). Your investment in researching the internet and your local market will help you be knowledgeable about making this very important decision. Once you have identified the area you want to purchase in, become knowledge about this specific neighborhood and the market value of the homes within the specific area.

Short Sale Opportunities–A short sale is a property that is what we call “upside down” in the market. The owner owes more money on the property than the property is worth in the current market. The short sale property will be on the market for less than market value.  This provides opportunity for Buyers in this current market. It is important to understand some important aspects of short sales for your success. A short sale is all about the numbers to the lender. They are most concerned with the bottom line amount of money that they will save or loose on the property. The formula on a short sale is typically 10% below market value. The listing agent on a short sale is looking for the Buyer to come in close to listing price. The lender will not approve the sale unless the offer is within a reasonable range of 10%. The Buyer will also be expected to purchase the property in an “AS IS” condition. They Buyer will also have higher closing costs and be required to purchase the Home Warranty. The sale is subject to the lenders approval. There is opportunity with short sales if listed properly. Working with an experienced Realtor will help you determine the investment opportunity and the market value of the opportunity.

Foreclosure Opportunities–REOs are Real Estate Owned property that have been foreclosed upon. The bank now owns the property. Typically, they will not negotiate or accept offers that are of a “low ball” nature. They will not provide disclosures and the property is generally sold in an “AS IS” condition. Foreclosures vary in terms of what opportunities they present. Working with a knowledgeable Realtor or Real Estate Agent can help you determine the market value for this specific home in it’s current condition. This will help you determine your opportunity. Your own investment in understanding the market will benefit you greatly in correctly investing in REOs. The stronger an offer the more likely the bank will negotiate. An all cash offer, will tend to move the bank on price.

To help our Buyers we list foreclosures and short sales on our websites for your convenience. You can look through the current list of foreclosures and short sales and we can discuss other “good buys” that are on the market and afford opportunity. Call today and we can talk about Redding CA Real Estate and the Great Deals that are available.

Redding CA Buyers Have Great Opportunity in this market at this time!

WE CAN HELP! We provide you our main real estate website for all your Redding Real Estate needs. We also provide a Luxury Market website for those clients looking for Redding Luxury Homes of extraordinary elegance. We also offer the entire Shasta County MLS by Price for you view convenience and we offer for those investors and first time home buyers a website dedicated to short sale and foreclosure listings and information.

SEND FOR A RELOCATION PACKAGE TODAY. CALL AND WE’LL TELL YOU ALL ABOUT OUR AREA.

Call today for a free Comparable Market Analysis (CMA) on your home or your investment property and we can talk about Redding Real Estate.

Redding Real Estate ~ First Time Buyers and the Traditional Value of Owning Your Own Home.

The Boom of 2005 was based on prosperity and a desire to have our dreams come true. A time when we wanted bigger and more beautiful homes. Greed had a part to play, but from who? Greed on pretty much all levels. Greed from banks and lending institutions, mortgage brokers and real estate professionals. It also included the consumer using their homes as ATM machines for purchases of RVs, boats and other toys. It included the government with deregulation. It included a “get quick rich” attitude from the consumer that I can make more money by leveraging my home to buy more real estate. It was a get rich quick scheme and it worked for some and for some it proved to be disastrous. It was not a bad strategy but a strategy that could not sustain itself. Greed is a hard word to use, however when we look back we have to accept that aspect of what occurred.

What will owning a home in the future be like? The answer comes from the generation before us. It comes from a conservative perspective. It come from a more traditional basis. It stems from a need for shelter, security and long term investment that can eventually contribute for retirement. It provides a tax deduction that can help families afford their homes and to move towards savings for college and retirement. We will be returning to the traditional values of owning a home.

That is not a bad thing and while we go through the withdrawal of having been on a high, we can support those people that are making a new beginning. A smaller footprint will be the way of the future for the next 10 years. It will not happen over night and recovery will take time. Helping those people in a position to take steps to returning to traditional values of home ownership is where our market is.

Adapt and understand the new market and the opportunity that will exist for Realtors as they help millions transition to this new trend. We have work to do in helping our clients adapt. It’s a good thing.

Jeanean’s Listings Shasta MLS by Price Short Sales and Foreclosures Redding and Shasta County Real Estate Resource Luxury Homes Waterfront Homes Ranches Horse Property Golf Course Homes

How Much Is My Home Worth Search all Homes in Shasta County Dream Home Finder

Search for Schools in Redding and Shasta County

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Here are some tips and information to help you prepare to meet with a Mortgage professional and establish a relationship for determining what you can afford and what your goals will be. I have a number of references for mortgage consultation and I recommend that you speak with several professionals to determine who you feel comfortable with and want to work with.

1. What will a lender look at when I apply for a mortgage?

Lenders consider many factors in evaluating your loan application, but they usually focus on four areas:

• Income and debt. How much money you make and what other bills you have to pay helps the lender determine whether you can afford to make mortgage payments.
• Assets. The lender needs to make sure you have enough money to cover the costs of buying a home.
• Credit. Whether you’ve met other financial obligations helps the lender predict whether you will repay your mortgage.
• Property. The home you want to buy has to be worth enough to act as collateral for the mortgage.

2. What does it mean to get pre-approved?

Getting pre-approved means you receive a loan commitment from your mortgage company before you have found a home, based on a review of your credit and finances. Having your credit pre-approved shows sellers that you’re a qualified buyer and helps you establish a clear price range. The process is the same as a typical mortgage application, except that your application doesn’t include property information.

3. What if I’ve had credit problems?

Your credit history is only one factor in qualifying for a loan, and having made some late payments doesn’t have to keep you from buying a home. Someone who has consistently made payments on time in the past may have more financing options than someone who has not, but that doesn’t mean a mortgage is off-limits if you’ve had credit problems. In fact, we may be able to suggest a variety of mortgage options to help people with less-than-perfect credit become homeowners and leave credit challenges behind.

4. What is the minimum down payment I can make on a home?

There is no minimum down payment required for buying a home, in general. Many first-time buyers believe they must be able to put down as much as 20% of a home’s purchase price in cash. That may have been true in the past, but many of the mortgage options available to today’s home-buyers require little or no down payment. With housing prices as high as they are, homeownership would be impossible for many people if not for these low-down-payment options.  We may be able to suggest a number of loan programs that can help you buy a home with little or no cash.

5. Will I have to pay for Private Mortgage Insurance?

Private Mortgage Insurance (PMI) provides your lender with a way to recoup its investment if you are unable to repay your loan. PMI is usually required when the mortgage amount is higher than 80% of the home’s value. That means that if you buy a home with a down payment of less than 20%, you will probably have to pay for PMI. One common way of bypassing PMI without making any down payment at all is to use an 80/20 program, which combines a first mortgage with home equity financing.

6. What closing costs will I have to pay?

Closing costs vary based on a number of factors – including the lender, mortgage type, purchase contract, and location – but they usually include the following:

• Lender fees. Your mortgage company may charge for expenses related to making the loan, including an appraisal fee, a credit report fee, origination points, and discount points.
• Third party fees. Charges for services not provided by your lender often include the settlement fee, title insurance, and attorney’s fees.
• Prepaid items. Certain mortgage costs must be paid to your lender in advance. The most common of these are pre-paid interest, hazard insurance, and deposits to set up an escrow account.

7. Should I pay discount points?

Discount points are prepaid interest, which you can pay to your lender at closing in exchange for a lower interest rate on your mortgage. Paying discount points, each of which is equal to 1% of the loan amount, is often called “buying down” your rate.

So does paying points make sense for you? The answer depends primarily on how long you plan to stay in your home. First, find out how much lower your monthly payments will be if you pay points. Then, calculate how long it will take for those monthly savings to add up to the cost of the points. If it would take five years to break even and you’re planning to live in your home for 10, paying discount points may be a smart move.

8. Should I choose a fixed-rate or adjustable-rate loan?

Most mortgage loans have either a fixed interest rate or an adjustable interest rate. With a fixed-rate mortgage, the interest rate never changes and your payments remain stable throughout the life of your loan. With an adjustable-rate mortgage (ARM), the interest rate changes at regular intervals – usually once every year – based on market indicators. For most ARM options, rate adjustments begin after an initial period – usually between three months and ten years – during which the rate is fixed.

A fixed rate is usually best if you plan to stay in your home for the long term and are buying at a time when rates are relatively low. You may get the most value from an ARM if you plan to move before the end of the fixed-rate period, or if you’re buying at a time when rates are relatively high.

9. Should I lock my rate?

Locking your interest rate means your lender guarantees the rate on your loan even if market rates change before closing. Most lenders will allow you to lock your rate for 30 to 60 days, with the option to extend the rate-lock period for a fee.

So how do you know whether to lock your interest rate? It depends on whether you expect rates to rise or fall before you close on your home. No one knows for sure which direction rates will go at a given time, so it’s difficult to make a reliable prediction. It helps to keep track of announcements from the Federal Reserve Board, whose monetary policies have an effect on mortgage rates, and to talk to you financial advisor about what may happen in the near term.

10. What will my mortgage payments include?

For most borrowers, each monthly mortgage payment goes toward the following:

• Principal, which is the total outstanding balance of the loan
• Interest, which is the cost of borrowing money
• Taxes, which are levied on the property by the local government
• Insurance, which protects the owner and the lender from losses caused by fire and natural hazards

I am Jeanean Gendron, your Redding and Shasta County Specialist. I can be reached at 530 276-7417. I answer my phone.

Jeanean’s Listings Shasta MLS by Price Short Sales and Foreclosures Redding and Shasta County Real Estate Resource Luxury Homes Waterfront Homes Ranches Horse Property Golf Course Homes

How Much Is My Home Worth Search all Homes in Shasta County Dream Home Finder

Search for Schools in Redding and Shasta County

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