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Let me be your insider guide to this housing market, to the neighborhoods, to your future home. It takes real experience to navigate this market. Some homes are staying on the market way too long while others are getting snatched up in days. Some close for thousands less than their list price while others are thousands more above price. Get the facts of the market from someone who has bought and sold many times and helped so many more. Pick up the phone and give me a call today or complete the info here:
Buying a home shouldn't be like a roller coaster
Dan finds the perfect home and then he gets the better news, he qualifies for a first time home buyers rebate. Now Dan is in the drivers seat, however, the agent fails to mention key details about the foundation being off the and the roof being in poor condition. After moving in, Dan starts to notice cracks in the walls and the floors are uneven. He also discovers water leaks from the roof during the first rainstorm. When Dan contacts his agent to address these issues, he is met with unresponsiveness and excuses. It turns out that the agent was not experienced enough to handle the complexities of the transaction and was more focused on securing the sale and earning their commission than ensuring Dan’s satisfaction and well-being. Now, Dan is left with a home that is not only structurally unsound but also with an agent who refuses to take responsibility for their mistakes. Dan is forced to spend a significant amount of money on repairs and legal fees to try and remedy the situation. The dream of owning his dream home has turned into a living nightmare, all because he trusted the wrong agent.
How about a much more fare and upfront deal?
When a buyer purchases a home, a large part of that purchase, price 5.5% on average, goes toward realtor commission fees. Typically, the two agents or brokers who handle the sale split that total commission down the middle, so 2.5% for each side. Then from the commission the agent (myself) will pay a broker fee ($1,000) and the transaction coordinator ($500). After that, we split the proceeds, 80% for the agent (me) and 20% to you, the buyer. You are now receiving the “first time home buyer special,” except it doesn’t matter whether this is your first or tenth time. The saving’s is yours! No gimmicks, no bate and switch.
Buyer's Costs
In California, the average home sells for $600,000 to $700,000. If you find a property within that price range, expect to pay between $6,120 and $7,140 — before taxes — in closing costs. These charges cover your inspection, appraisal and origination costs, as well as title insurance and courier fees.
Depending on the type of property and how you’re paying for it, you may also need to pony up for mortgage insurance, flood certification, HOA or condo fees. Some of these are negotiable, but the taxes are set in stone. California is subject to property and transfer taxes, though property taxes have been capped at 1% of the purchase price
Depending on the type of property and how you’re paying for it, you may also need to pony up for mortgage insurance, flood certification, HOA or condo fees. Some of these are negotiable, but the taxes are set in stone. California is subject to property and transfer taxes, though property taxes have been capped at 1% of the purchase price
Closing costs are split between the buyer and the seller in the Golden State, though the buyer absorbs most of them. Your rates reflect your lender and the market, as well as the type, location and price of the property.
- Title search: $500–$1,000
- Title insurance: $1,200–$2,800
- Appraisal fee: $200–$600
- Property inspection fee: $300–$800
- Recording fee: $8.50–$10 a page
- Origination fee: $800–$950
- Points (optional): 1% of the loan amount
- Surveying fee: $500–$900 based on size of land
- Settlement fee: $400–$700
- Property tax: Prorated at closing
- Condo or HOA fees: Prorated at closing, if applicable
- Flood certification: $11
- Credit report: $25
- Mortgage recording or deed of trust: $35
- Homeowners insurance: Varies
- Hazard insurance: Varies, if applicable
- Mortgage insurance: Up to 1% of mortgage amount, if applicable
- Archive and courier fee: $50–$120
- Miscellaneous condo fees: Varies
- Mello-Roos CFD taxes: Varies, if applicable
In California, you can pay interest up front at closing in the form of discount points. Many buyers opt into points to score a lower interest rate on their mortgage.
One point equals 1% of the loan amount. So, for a $250,000 loan, you’d pay an $2,500 in points at closing.
Mello-Roos taxes are used to fund improvements to local infrastructure and are common in Eastlake. They can be used to build or repair streets, sewers and sanitation systems, pay for police protection and cover the maintenance of parks, schools and other facilities. There is an expiration to these taxes, typically 20 years.
