San Diego Real Estate Homes

Tips for First-Time Home Buyers

Like any big project, a successful homebuying experience is all about getting the details right from start to finish. These tips for first-time home buyers will help you navigate the process, save money and close the deal. We organized them into four categories:

  • Preparing to buy tips.
  • Mortgage selection tips.
  • Home shopping tips.
  • Home purchasing tips.

Preparing to buy tips

1. Start saving early

Here are the main costs to consider when saving for a home:

  • Down payment: Your down payment requirement will depend on the type of mortgage you choose and the lender. Some conventional loans aimed at first-time home buyers with excellent credit allow as little as 3% down. But even a small down payment can be challenging to save. For example, a 3% down payment on a $300,000 home is $9,000. Use a down payment calculator to decide a goal, and then set up automatic transfers from checking to savings to get started.
  • Closing costs: These are the fees and expenses you pay to finalize your mortgage, and they typically range from 2% to 5% of the loan amount. You can ask the seller to pay a portion of your closing costs, and you can save on some expenses, such as home inspections, by shopping around.
  • Move-in expenses: You’ll need some cash after the home purchase. Set some money aside for immediate home repairs, upgrades and furnishings.

2. Decide how much home you can afford

Figure out how much you can safely spend on a house before starting to shop. NerdWallet’s home affordability calculator can help with setting a price range based on your income, debt, down payment, credit score and where you plan to live.

» MORE: Learn about how to save for a down payment

3. Check and strengthen your credit

Your credit score will determine whether you qualify for a mortgage and affect the interest rate lenders will offer. Take these steps to strengthen your credit score to buy a house:

  • Get free copies of your credit reports from each of the three credit bureaus — Experian, Equifax and TransUnion — and dispute any errors that could hurt your score.
  • Pay all your bills on time, and keep credit card balances as low as possible.
  • Keep current credit cards open. Closing a card will increase the portion of available credit you use, which can lower your score.
  • Track your credit score. NerdWallet offers a free credit score that updates weekly.

Mortgage selection tips

4. Explore mortgage options

A variety of mortgages are available with varying down payment and eligibility requirements. Here are the main categories:

  • Conventional mortgages are not guaranteed by the government. Some conventional loans targeted at first-time buyers require as little as 3% down.
  • FHA loans are insured by the Federal Housing Administration and allow down payments as low as 3.5%.
  • USDA loans are guaranteed by the U.S. Department of Agriculture. They are for rural home buyers and usually require no down payment.
  • VA loans are guaranteed by the Department of Veterans Affairs. They are for current and veteran military service members and usually require no down payment.

You also have options when it comes to the mortgage term. Most home buyers opt for a 30-year fixed-rate mortgage, which is paid off in 30 years and has an interest rate that stays the same. A 15-year loan typically has a lower interest rate than a 30-year mortgage, but the monthly payments are larger.

5. Research first-time home buyer assistance programs

Many states and some cities and counties offer first-time home buyer programs, which often combine low-interest-rate mortgages with down payment assistance and closing cost assistance. Tax credits are also available through some first-time home buyer programs.

6. Compare mortgage rates and fees

The Consumer Financial Protection Bureau recommends requesting loan estimates for the same type of mortgage from multiple lenders to compare the costs, including interest rates and possible origination fees.

Lenders may offer the opportunity to buy discount points, which are fees the borrower pays upfront to lower the interest rate. Buying points can make sense if you have the money on hand and plan to stay in the home for a long time. Use a discount points calculator to decide.

7. Get a preapproval letter

A mortgage preapproval is a lender’s offer to loan you a certain amount under specific terms. Having a preapproval letter shows home sellers and real estate agents that you’re a serious buyer, and can give you an edge over home shoppers who haven’t taken this step yet.

Apply for preapproval when you’re ready to start home shopping. A lender will pull your credit and review documents to verify your income, assets and debt. Applying for preapproval from more than one lender to shop rates shouldn’t hurt your credit score as long as you apply for them within a limited time frame, such as 30 days.

Home shopping tips

8. Choose a real estate agent carefully

A good real estate agent will scour the market for homes that meet your needs and guide you through the negotiation and closing process. Get agent referrals from other recent home buyers. Interview at least a few agents, and request references. When speaking with potential agents, ask about their experience helping first-time home buyers in your market and how they plan to help you find a home.

9. Pick the right type of house and neighborhood

Weigh the pros and cons of different types of homes, given your lifestyle and budget. A condominium or townhome may be more affordable than a single-family home, but shared walls with neighbors will mean less privacy. Don’t forget to budget for homeowners association fees when shopping for condos and townhomes, or houses in planned or gated communities. Another option to consider is buying a fixer-upper — a single-family home in need of updates or repairs. Fixer-uppers usually sell for less per square foot than move-in ready homes. However, you may need to budget extra for repairs and remodeling. Renovation mortgages finance both the home price and the cost of improvements in one loan.

Think about your long-term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow.

Check out potential neighborhoods thoroughly. Choose one with amenities that are important to you, and test out the commute to work during rush hour.

10. Stick to your budget

A lender may offer to loan you more than what is comfortably affordable, or you may feel pressure to spend outside your comfort zone to beat another buyer’s offer. To avoid financial stress down the road, set a price range based on your budget, and then stick to it.

Look at properties below your price limit to give some wiggle room for bidding in a competitive market.

11. Make the most of open houses

Online 3D home tours have become more popular amid the COVID-19 pandemic. These tours let shoppers virtually walk through a home at any hour and observe details that regular photos don’t catch. They don’t supply all the information in-person visits do — like how the carpets smell — but they can help you narrow the list of properties to visit.

Open your senses when touring homes in person. Listen for noise, pay attention to any odors and look at the overall condition of the home inside and out. Ask about the type and age of the electrical and plumbing systems and the roof.

Home purchasing tips

12. Pay for a home inspection

A home inspection is a thorough assessment of the structure and mechanical systems. Professional inspectors look for potential problems, so you can make an informed decision about buying the property. Here are some things to keep in mind:

  • Standard inspections don’t test for things like radon, mold or pests. Understand what’s included in the inspection and what other inspections you might need.
  • Make sure the inspector can get to every part of the house, such as the roof and any crawl spaces.
  • Traditionally the buyer attends the inspection. By following the inspector around you can get a better understanding of the home and ask questions on the spot. If you can’t attend the inspection, review the inspector’s report carefully and ask about anything that’s unclear.

13. Negotiate with the seller

You may be able to save money by asking the seller to pay for repairs in advance or lower the price to cover the cost of repairs you’ll have to make later. You may also ask the seller to pay some of the closing costs. But keep in mind that lenders may limit the portion of closing costs the seller can pay.

Your negotiating power will depend on the local market. It’s tougher to drive a hard bargain when there are more buyers than homes for sale. Work with your real estate agent to understand the local market and strategize accordingly.

14. Buy adequate home insurance

Your lender will require you to buy homeowners insurance before closing the deal. Home insurance covers the cost to repair or replace your home and belongings if they’re damaged by an incident covered in the policy. It also provides liability insurance if you’re held responsible for an injury or accident. Buy enough home insurance to cover the cost of rebuilding the home if it’s destroyed.

If you want some real-state homes just contact us for more information.

DRYWALL REPAIR & DRYWALL FINISHING

Professional drywall repair and maintenance is important to keep your home looking great. Whether you nicked the wall while moving furniture or need to cover an unsightly hole, our drywall contractors have seen and repaired it all. Our professional drywall contractors arrive on time and in uniform, ready to get the job done right. Mr. Handyman’s drywall repair service can take care of drywall damage from:

  • Cracks from settling
  • Damage from moisture
  • Regular wear and tear
  • Damage from kids
  • Damage from mice
  • Holes from drywall anchors
  • Door knob holes
  • Throwing darts holes

We won’t just make the necessary repairs. We’ll also take measures to identify why and how the drywall was damaged (leaking roof or poor ventilation) and take proactive steps to prevent the problem from happening again. If the drywall is beyond repair, we can help remove the damaged drywall and install new drywall.

Drywall Finishing Services

Finishing drywall is an artform. An exceptional finishing job is essential for a perfect paint job. Our drywall finishing services check all the boxes to ensure a seamless, professional aesthetic throughout your home.

  • Drywall mudding
  • Drywall sanding
  • Drywall seam/joint taping

More than Just Drywall Repair

In cases where the drywall has been damaged from poor ventilation, we can not only perform the needed repairs, but we can also inspect the bathroom to determine if you should have better ventilation installed. Mr. Handyman can patch the drywall, fix / replace bathroom fans, and even repaint the room!

Modern homes contain much more than just drywall. Our drywall services also include:

  • Green board repairs and finishing
  • Gypsum board repairs and finishing
  • Cement board repairs and finishing
  • Sheetrock repairs and finishing
  • Stucco repairs and finishing

Where Will AI Take the Real Estate Market in 10 Years?

Where Will AI Take the Real Estate Market in 10 Years?

Understanding the fundamentals of the real estate market | Opendoor

Artificial intelligence is here and shows no signs of slowing down. According to PwC, business leaders said they believe AI is going to be fundamental in the future. Most people referred to AI as a “business advantage.” The same survey reports that 63% of people agree AI will help solve complex problems that plague modern societies, and 59% agree that AI will help people live more fulfilling lives. But, where will AI take the real estate market in ten years?

AI is infiltrating every industry, including the real estate sector. What was once a lagging industry, faces massive change now – and in the future. From enhancing the home search process to predicting property market values, AI will impact consumers and agents alike.

Currently, AI capabilities are somewhat limited. However, the way the technology is advancing, 10 to 15 years from now, AI will significantly transform the way people buy and sell the property. Here are four predictions for how AI will revolutionize the future of the real estate industry.

1. Make the property search better for clients.

Searching for a new home can be overwhelming. Today’s real estate portals recommend properties based on characteristics, such as the number of rooms, square footage, price, etc. They also display far more information than potential homebuyers need.

In the future, AI will enable home search portals to recommend properties that align with consumers’ preferences, personality traits, and values. Much like a dating website, portals will deliver fewer, higher quality properties based on what’s important to the client. Instead of displaying more information, home search platforms will give consumers the right information.

How to Plan, Start, & Grow a Real Estate Business: 22 Essential Tips

Additionally, existing chatbots can answer simple queries to help potential clients find their next home. If they’re unable to provide an answer, bots will notify human agents to take over and offer a better response. As machine learning advances, chatbots will become smarter. In the future, they’ll be able to answer complex search queries proficiently, including those through voice technology.

AI will also change the way consumers receive listings. Real estate agents will no longer have to send property listings to clients manually. Instead, they’ll be able to use a tool to automatically send personalized messages in bulk based on a client’s life event like a marriage, baby, or retirement. AI will allow agents to connect with potential homebuyers in a more personal, meaningful way and help them in their home search.

In the future, agents will no longer need to accompany clients to show a home, and clients can tour a property at their leisure. Agent-less showings will become more popular as AI-powered robots will be able to show clients around properties anytime and answer questions they may have.

In the future, consumers may prefer to do business with bots instead of real people. According to Salesforce, 69% of consumers prefer chatbots for quick communication with brands.

Zen place, for example, is a company that offers consumers an AI-driven home tour experience. The startup developed a bot that comes with a tablet attached to a pole on wheels. It streams a live feed of a real estate agent who conducts the tour and steers the robot. This simulated robot increases the number of showings that realtors can hold within a day.

AI will enable buyers to view homes on their own, give feedback, and allow the agent to help clients decide why it may be a suitable property. Robots won’t take over, as a human touch will still be necessary. Instead, this technology will be helpful to agents that cover a lot of territories and have a busy showing schedule.

Self-Guided Tours: New Frontier of Apartment Leasing? | RealPage Blog

3. Predict property market values.

AI technology can help real estate agents better predict the future value of a property in a target market by combining CRM and marketplace data. For example, technology may link information from various sources, including area crime, schools, transportation, and marketplace activity.

Skyline AI, for instance, is working on a platform that can precisely predict future rent, identify future market trends, and capture arbitrage between asking price and market price. The AI software compares as many as 10,000 property attributes and researches as far back as 50 years on every multi-family property in the US.

Buying a new home is an investment for most consumers. Therefore, having a reliable forecast of its future value can make buyers more comfortable and confident about making such a significant purchase.

4. Improve the buying process.

Purchasing a home can be a tedious and stressful process. However, machine learning will refine the process of buying a home in the years to come.

Improving the Buying Process, One Consumer at a Time - Tenfold

JetClosing, for instance, is a company that applies machine learning to create a user-friendly, faster, and transparent real estate closing experience for the buyer, seller, and agent. The startup digitizes the entire closing process and allows real estate agents to provide real-time notifications and messaging to homebuyers about the progress of a close.

Machine learning can help agents deliver a frictionless client experience by providing faster closing times, robust compliance checks, and auto-fillable data that cuts down on manual data entry and errors. It will also be able to offer smart reports that help agents accurately assess their performance.

Bringing AI to real estate.

AI is barely scratching the surface of the real estate industry. However, it will significantly impact the way people buy and sell property 10-15 years down the road.

Agents who embrace AI-driven technology will have a competitive advantage compared to those who do not. As for consumers, AI will ease the challenges of finding, viewing, and buying a home. AI will help agents better serve their clients, and this technology will be a key competitive edge over other agents. Those that embrace the technology will certainly see results.

San Diego Mortgage Broker- get the best assistance for your needs.

When you are planning to buy a home you have many options available to you but the best option is to seek the assistance of Hampton Mortgage a San Diego mortgage broker who will help you to refinance a mortgage o the property. But for this you will need to look for the right kind of professional who will help you to get this task done in an efficient manner without any kind of delays or inconvenience. Moreover, rather than visiting a bank for procuring a loan for your purchase, you should get help from an experienced and licensed mortgage broker who will help you with this entire process. This is also considered as a financially beneficial option because you can decide regarding the best mortgage terms and rates that are offered by multiple lenders.

There are many benefits of hiring the San Diego mortgage broker and the most important benefit is that you will get the assistance from a professional who is responsible for negotiating and processing the commercial and residential mortgage loans. Moreover, this broker will also work on your behalf so that you will get access to a large number of loan products because they have a wide network and experience for offering you the right guidance and assistance. Additionally, you can also select from a wide variety of loan products and its interest rates so that you can select a loan that will suit your budget and requirements. Moreover, when you work with a competent and skilled mortgage broker, you can easily find the best mortgage for yourself. This is the best way of relieving the stress and anxiety relating to the entire process of finding the best mortgage so that you will not face any kind of difficulties. You will get a lender who will offer the lowest interest rate and down payment so that you can easily purchase the property that you want to buy. You will also get the required funds with the help of the brokers when you want to make the final payment for the property. Even with poor credit score or history, you can always seek the assistance of a mortgage broker who will work on your behalf so that you don’t have to worry about carrying on negotiations for the property deals. There is an option available for you if you are looking for a no-fee mortgage broker so that you don’t have to worry about any hidden charges. These professionals will find the most profitable deal for you so that you will save a considerable amount of money. Since they have access to a large number of mortgage products; you will get the best deal in terms of loan products, repayment amounts, and interest rates. This is done by assessing your long as well as short term goals so that you will get the loan product that will be best for your situation. Moreover, you will also get the best flexibility by these professionals who has the skills and expertise for meeting your needs. Regardless of your present situation, the mortgage broker will offer you the best assistance and guidance so that you can get through all kind of situations easily.

Hiring San Diego mortgage broker will also save you from the legal work and procedures that you might have to face while refinancing a mortgage. They will also go through the contract papers carefully for making sure that there are no hidden charges or clauses that might not be beneficial for you. Moreover, the research will also be carried on by the mortgage broker who will look for the best lender for you. You will not have to put in any effort or hard work for this entire process because you will get the assistance of a professional who will offer you the convenience of getting the best loan according to your needs. Since the broker has better access to all kind of information regarding lenders and their payment terms. This makes it convenient for you to make the right selection based on your requirements so that you can get in touch with the right lenders for your mortgage needs. They also provide you with expert advice and valuable suggestions that can help you to make the right decision pertaining to the purchase of property.

Consulting Dry Wall Experts for Reliable Drywall Services

You’ve just found out a hole in your wall and obviously you don’t want it to remain for quite long. A wall hole can be quite obvious to notice and almost anyone who visits your home would easily see it. Fortunately there are quick methods to get rid of the same, but which is the most viable measure to completely get rid of the problem? Neglecting the issue will just create more trouble with gradual damage to your wall.

What is a dry wall?

Dry walls are high performance interior lightweight wall systems composed of GI steel framing and their one side is fitted with gypsum plasterboards. Later on gypsum attaching compounds are used for taping and finishing.

These are mostly used for interior partition and are mostly preferred for different applications in hotels, rooms, schools, hospitals, theatres and different industries. Without any alteration and abuse, these remain to be some of the most long lasting internal constructions.

Dry wall services offered by professionals

So whether you’re concerned about getting final touching for your current remodeling work or just need to patch out the wear and tear area, you can seek professional help through experts from dry wall services who mainly specialize in various dry wall repair and painting services.

Professional contractors from dry wall repair services generally perform a multitude of tasks and deal in drywall fishing as well for that error free look that you’ve always wanted. Typically you would get handy services from experts in the field such as:

  • Complete wear and tear fixes
  • Repair for moisture damage
  • Fixing holes in doorknobs
  • Fixing cracks with settling
  • Drywall damage done by kids
  • Anchor holes in drywall
  • Mice related drywall damage
  • Dart hole damage

Installation and repair for crown molding

The right installation of crown mold adds up great style and value for your house. With the right service for your dry walls you can make a considerable difference to the way your dry walls appear with a lot of appearance options.

Installation of dry wall can’t be done by self. There are a lot of tasks to be taken care of while installing drywalls such as removing damaged and old pieces for new dry wall hanging and professional contractors for handling projects from the very beginning to end.

Additional services

Some valuable services provided with dry wall installation are:

  • Installation for sheetrock, stucco, gypsum and green board.
  • Taping and muddling the drywall
  • Drywall hanging services (with ceiling installation)
  • Drywall painting services in addition to finishing touches
  • Expert repair and patching services for drywalls

Over the time, dry wall takes serious beating through day to day activities from home. Cracks and dents can form as items and make repeated contact through wall. There are different reasons that lead to formation of holes such as having hanging nails or repeated contact with door knobs. A common cause of dry wall cracking is water damage and this can result with trapped moisture or plumbing issues.

Another common drywall issue source is termite damage. Make sure that the repair experts from professional drywall contractors are ready to efficiently handle all such repairs in a professional and timely way.

Consulting experts

With dry walls you get the most reliable solutions for your homes and it becomes quite logical to have a consultation beforehand. However, one must always consider the quality and details regarding the consultation. A consultant from the drywall installation service can meet the client, present a few pictures for a brief idea and finalize a date.

Professionals will make sure to visit site, view the wall that has to be worked, listen to the client’s requirements and eventually get the desired concept. The overall consultation shouldn’t consume a lot of time, but some practical issues are always present that need to be addressed by making a site visit. Once the client finalizes on the actual wall appearance, the drywall installation expert can complete all installation works within the discussed time period.

All contractors aren’t specialists in drywall tasks like painting, decoration and repair and you must not hand your drywall tasks to anyone. While hiring painting professionals for drywall services you should be assured about their work portfolio and make sure that they treat your space with utmost respect and care. Regardless of the type of drywall you’ve installed in your home, licensed professionals from drywall services would help you in overcoming almost all types of drywall issues.

What To Consider When Building A Custom Home

Sometimes the construction of the custom house can be scary. In today’s local market, most households have a cookie startup plan for anyone else in their community. You may realized when driving or riding through the hip that all the houses look similar to the design and new subdivision. Maybe these houses also look almost identical from the inside too. Therefore, it is normal that we do not know how construction in custom homes works. Because the customs houses are just that, each construction process is different. However, these 7 tips should lead you to succeed in building a custom home.

Budget: Before you lose time or construction time, you must first establish your budget. Sum up your monthly cost, apart from home (since you are trying to find out), and the cash you have left to take advantage of your monthly income is exactly what should determine your budget. After you determine your budget, you can choose the design and type of the house you can afford to build.

Location: You should find out where you want to live. It sounds easy, but it is not. Keep in mind that there are always many things to remember when deciding on the location. To what extent will your location will be from social amenities like school, market, and work? Are you near the highway exit? Is the place noisy? Learn about the schools in your area, even if you do not have children. It means goods property value if the area has good schools. Will this area have grown in the 5-10 years to come? Will be there some development? Will the place be congested in the future? Will that place that you like can probably be a parking space?

List: after choosing your home location, you can create a list of building companies that mostly build in the selected area. How do you do this better? Searching from the internet can give you better results. For example, if you’re looking for custom construction companies, go to Google and type “Custom Home Builders.” You will get a set of search results of all the companies that are located in that area. You can also review these search results in Google Places. Once you get your list, start a full search. Request brochures/information, visit the site and even personal visit to some of the typical houses they have constructed. Try to identify the price range of the builders, the types of houses they build, their experience and their reputation

Decide: once you have completed an exhaustive search, it is time to identify and choose the best builder of the work. Take some time to make your final decision in selection.

Choosing your lot – then select your lot. This is an essential part of the process, since some factors often depend on the quantity, and not vice versa. For example, some housing plans only function with some types of lots. If you need a bungalow style cottage with a covered terrace, you may require a flat, large lot. Few builders like to move their dual-level or single-level homes around their communities.

The floor plan – This is the funny part. Here, you are required to select your floor plan for your new home. Depending on your constructor, you can get a standard ground plan on which you can work and then have the freedom to change the design as you wish. For example, you can begin with a standard plan of three bedrooms and two bathrooms, and determine that you require to construct another half bathroom. On the other hand, you can decide to completely create a custom plan with the help of architecture from scratch.

Negotiate – It is good to negotiate the contract fast before you sign it. Always remember to take proper precautions before you sign and take any contract. Always ensure that all the information regarding the deal are included explicitly and that the contract is verified by a lawyer. If there are changes to the contract, you must request an addition. Read the contract guarantee section carefully to make sure it meets minimum standards and meets your requirements.

The ins and outs of the process of custom home constructions

The construction of custom houses has undergone some pioneering and surprising changes in recent years. This is because the concept of housing construction has changed:

– Promoters and architects now use the latest ideas to design the house of their dreams. This changed the general view.
– The construction of houses now requires the use of precision techniques: steel bars resistant to earthquakes and the exclusive fine finish paints.

– Interior design also has undergone revolutionary changes. New home builders can now read your ideas so that they can design much better designs. This has been made possible with the advent of technology and the widespread use of the Internet.

Through this technological development, the new generation builders can achieve world-class ideas that can transform the design of their dreams into a great reality.