By Shannon Biszantz on December 11, 2015
in Biszantz Connection, Coldwell Banker, Economic Real Estate News, In My Opinion Only, Rancho Santa Fe, real estate, Real Estate News, San Diego, San Diego Homes, San Diego Real Estate, Shannon Biszantz
I wanted to share this article I found at realtytimes.com. I am sharing this as a way for us to be informed and updated with the real estate industry. After all, real estate is an investment and we are doing our best to keep you in the loop.
When dealing with real estate matters, the law is clear: everything has to be in writing. Thus, you will need a sales contract, which will spell out all of the terms, conditions and special requirements you may (or will) need in order to conclude the transaction and go to closing (settlement) on the house.
If there is no real estate agent involved, your attorney should be able to assist you in preparing the contract offer. If there is a real estate agent, you can get a form sales contract from the agent. In fact, the agent should be able to assist you in preparing the document for presentation to the seller, although your attorney should review it before you sign.
Typically, the buyer makes a written offer to the seller. The seller has three alternatives:
1. The contract can be accepted;
2. The contract can be rejected in its entirety, or
3. The contract offer will be countered, with different terms.
It is rare that the seller will opt for alternatives one or two; in most cases, the potential buyer will receive a counter-offer. Then, the buyer has the same three alternatives.
There are certain things which must be included in any sales contract.
- The property must be clearly identified, preferably by street address.
- The contract must be contingent upon your obtaining financing. You should allow yourself some time — usually 30-45 days — in which to make an application from a mortgage lender and get a written commitment that you have been approved for the loan. Under the new Consumer Financial Protection Bureau (CFPB), it will take more time, so you may want to give yourself up to 60 days in which to finalize the deal.
- Unless you are an experienced contractor, it is advisable that you make the contract contingent on your obtaining a satisfactory home inspection. You should give yourself 5-7 days after the contract is signed to have the property inspected. If you are not satisfied for any reason after you receive a written report from the inspector, you should have the right to terminate the contract, and get back your earnest money deposit.
- How much earnest money should you put up when you sign the sales contract? There is no magic formula and no law dictating a certain percentage of the purchase price. When you sign a contract, in order to make it a valid, legal document, the buyer should put up some money as a good faith earnest money deposit. These funds will be held by the real estate broker or the settlement attorney until settlement takes or until either the buyer is entitled to a return of the deposit (because the contingencies cannot be met) or the buyer is in breach of the contract, in which case the money would go to the seller.
IMPORTANT CLAUSES IN YOUR REAL ESTATE CONTRACT
By Shannon Biszantz on December 9, 2015
in Biszantz Connection, Blogs, Coldwell Banker, In My Opinion Only, Rancho Santa Fe, Real Estate News, San Diego, San Diego Homes, San Diego Real Estate, Shannon Biszantz, The Buzz
Rent, Insurance, Cars, and Loans, Expected to go up by 2016
2015 has been a roller coaster ride for everyone. There were ups and downs that almost drove everyone to the wall. However, if you were like me who is actually looking forward to 2016 just because the year of the sheep has not been cooperating well. Anyway, I would like to share this article I found online that may or may not put us to a panic mode.
This article can give us more insights on what to expect next year and prioritize the plans that we have placed on hold this year. If you are renting, this might be the best time to actually own your house and stop renting before interests go up and the loan process harder.
Here’s a look at what could cost more in 2016.
1. Rent.
Residential and commercial property rental costs could rise in 2016, and not just in red-hot residential markets like San Francisco and New York. Michael Levin, associate professor of marketing at Otterbein University in Westerville, Ohio, says residential rental markets that have not been hot for the past several years, such as Cincinnati and Dallas, could see rising rents. “Demand is finally catching up with supply, and it’s squeezing the available supply, so residential rents will increase,” Levin says.
The Zillow Home Price Expectations Survey, which surveyed 101 real estate experts in January, found that more than half of the experts said they expect rental affordability to worsen for at least another two years.
2. Borrowing money.
Mortgage rates sat at historic lows the past few years, which was favorable for those looking to refinance or finance a new home. The U.S. Federal Reserve did not raise interest rates in 2015 as expected, but it could increase rates later this month or next year. If that happens, homeowners with home equity loans will pay more, as will people taking out new mortgages, points out Chip Manning, director of the Babson Center for Global Commerce at Sewanee–University of the South. “I think you’ll see upward pressure [on housing prices] because of the fact that people will try to get in under the wire [before rates increase],” he says.
3. High-tech home appliances.
Home appliances are going high tech, and more bells and whistles often translates to higher prices. “More products have home automation, app inclusion and voice inclusion,” says Howard Schaffer, vice president of merchandising at Offers.com. “It’s everything from high-end appliances down to your light switches, light bulbs and even crockpots.” However, if you’re in the market for a basic model that doesn’t sync with your phone or offer other features, then you likely won’t notice much of a price increase over this year, according to Schaffer.
4. College costs.
The College Board reports that the cost of undergraduate tuition at public and private universities for out-of-state students rose more than 3 percent between the 2014 to 2015 and 2015 to 2016 school years. Despite talk on the presidential campaign trail about plans to rein in college costs, Manning says there’s an “arms race” in the college space. “They’re still building nice facilities, and a lot of the colleges are doing more in the area of research, which can impact the cost structure,” he says.
MOOCs (massive open online courses) and online schools have been hot topics over the past seven or eight years because of their potential to drastically reduce college costs, Manning adds. “It just hasn’t materialized [on a large scale],” he says. “I think it will eventually have an effect, but I don’t think we’ll see that in the foreseeable future.”
Items to go up by 2016, what could cost more in 2016
San Diego’s Calendar of Events for November 2015
It’s the month of November and Halloween had passed, all the scary stuff is now a thing of the past. We can now all breathe that all the scary movies are over and we can have our well-deserved sleep. Thanksgiving is almost near and most of us had been preparing our Thanksgiving list.
But let’s not forget to thank and celebrate the Veterans who risked their life for our country’s freedom and let’s give them a salute!
We would like to take this opportunity to thank all the Veterans who risked their life for our country’s freedom. To the Family of the Veterans who endured being away from their loved ones, we Thank you as well for enduring the sleepless nights that you had.
We can’t thank you enough and we’ll do it from here. Again, Thank you from the bottom of our hearts.
I know few days had passed and some of the events may or may not be over. I mean, we still have some few weeks left before the end of November and the fun part is it’s almost Christmas time and some of the events will definitely lift your Christmas Spirits!
I have listed some of the events that you may want to take note of and have it squeezed to your very tight schedule. There are tons of drinking activities for this month, it’s best if can keep the drinking once a week or every other week. I tried my best to only include the family friendly events, however, my subconscious might be telling me to include more of the drinking events. It’s not you, it’s me! Lol!
Here is San Diego’s Calendar of Events for November 2015. Click on the photo for more information about the event. Enjoy!
San Diego's Calendar of Events, San Diego's Calendar of Events for November 2015
By Shannon Biszantz on November 13, 2015
in Biszantz Connection, Blogs, Coldwell Banker, In My Opinion Only, Rancho Santa Fe Real Estate, San Diego, Sellers Tips From Biszantz Connection, Shannon Biszantz, The Buzz, The Life of A Realtor, Whispering Palms Real Estate
10 Reasons why you need a Trusted Real Estate Agent
10 Things your Trusted Realtor Can Do for you
10 things to expect from you Trusted Real estate Agent.
Real Estate Agents Play a big role in the Buying and Selling process. They make sure that the transaction run’s smoothly, all the requirements met and legalities are covered or sent on time. Most importantly they should help and guide you all through the process of buying or selling. That’s why you need someone you can trust in the real estate world.
We all know that buying or selling a home can be stressful. I mean, just thinking about you selling your home or buying a property can put a lot of stress on your end and what more if you are already in the process, right?! It’s exciting, nerve-wracking and emotional for some, but for other’ it can be the fresh start in life.
Hiring a realtor will help you lighten all the burden, take care of potential and possible legalities that you may encounter in the future. Also, you need someone who can give you all the advice that you can get when you are buying or selling a home and to make sure that someone you trust is negotiating in your behalf and while keeping in mind that it’s for your best interest.
With that being said, we have listed 10 Reasons why you need a trusted real estate agent and divided it to Buyer’s and Seller’s Agent. We have included a checklist to guide you in selecting your Real Estate Agent. You can even use this as your checklist when hiring a realtor.
As your Buyer’s Agent:
1. Lead you through the Buying Process.
Buying a home for the first time or not can be scary and you need someone to guide you with all the process and updated with all the trends in the real estate market. It is always best to work with a professional who can help and guide you with all the process. You need an agent where your buying experience is something pleasurable and not something that will leave a scar.
2. Help you find homes that meet your criteria and standards.
Buying a home is a process of elimination and not selection. You need someone who is knowledgeable about the local area and understands what you need in a home. Someone who knows all the twists and turns in that area to find you the perfect home that will meet those criteria.
3. Someone who can connect you to a reputable financial professional.
Your real estate agent should have a trusted financial professionals. He or she should put you in contact with reputable lender and mortgage brokers who can help you set your budget and consult you on your financing options.
4. Advise you on Potential Property Issues.
Home inspections can give you an insight of the property and any potential problems in the future. Your trusted real estate agent should have a trusted inspector and can walk you through the results, explain any potential problems with the property in the future.
5. Negotiate a great deal for the home.
Closing can be really stressful and you need someone who can effectively do the negotiation for you. That’s where your real estate agent comes in and do the negotiation in your behalf and finally close the deal and get the keys to your future home!
10 Reasons why you need a Trusted Real Estate Agent, 10 Things you Trusted Realtor Can Do for you, things to expect from you Trusted Real estate Agent., Trusted Realtor Can Do for you
Homes Under $2 Million in The Covenant of Rancho Santa Fe
The Covenant Rancho Santa Fe Homes Under $2 Million.
Rancho Santa Fe’s, Listed Homes Under $2 Million.
We have put together a list of Homes Under $2 Million in The Covenant, Rancho Santa Fe. We all know homes in this area doesn’t come often in the market and most often, the listing price is really expensive.
Rancho Santa Fe is known as “The Ranch″ by the locals, the home of The Rancho Santa Fe Golf Course which was designed by Max Behr and original site for “clambakes” hosted by Bing Crosby back in the,1930’s.
It is known that Rancho Santa Fe is one of the communities with strict restrictions in terms of the architectural design of a house. This a great effort of the community to preserve and maintain the character of their community and its rare landscape features.
According to www.cnbc.com, Rancho Santa Fe is number 14th on their list of Top 20 Most Expensive Zip codes for 2015. The official Census Designated Place (CDP) is the Master Planned Community or also known as “The Covenant” of Rancho Santa Fe.
CLICK HERE, to see the Full list of Homes Under $2 Million in in The Covenant, Rancho Santa Fe!
Homes Under $2 M in The Covenant of Rancho Santa Fe, Listed Homes Under $2 M., Listings under $2M in The Covenant of Rancho Santa Fe, Rancho Santa Fe's The Covenant, The Covenant Rancho Santa Fe Homes Under $2 M.
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