Suzanne's Blog
Should I Buy a House Now or Wait for Mortgage Rates to Go Down?
Contemplating the purchase of a home or diligently saving for a down payment? The recent surge in mortgage rates may have prompted a crucial question in your mind: Is now the best moment to invest in a home, or should you bide your time until mortgage rates go down? In order to assist you in […]
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350,000 Californians are now on the FAIR Plan, the last resort for fire insurance. Now what?
BY LEVI SUMAGAYSAY JANUARY 23, 2024 The fire-insurance premium for Bill King’s home has risen 145% since 2017 — from $399 to $979 — under the California FAIR Plan, the state’s last option for homeowners seeking fire insurance. Add that to the increase in his auto-insurance premium, and King, who lives in Running Springs in the […]
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Top 5 Home Renovations with the Best Return on Investment
Well-planned home renovations can really enhance your home’s appeal and amp up its price when it’s time to sell. But not all improvements bring a hefty return on investment (ROI). Knowing the most promising updates can help strategize your revamping efforts for an attractive sale. Read on for a rundown of the top five home […]
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Want to Add a Granny Flat or Rental ADU? Here’s How to Finance It
Are you dreaming of adding an accessory dwelling unit (ADU) to your property? Whether it’s a granny flat, carriage house, or backyard cottage, ADUs are gaining popularity as an innovative solution to the shortage of affordable housing in the United States. In this guide, we’ll explore the financing options and trends that make realizing your […]
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2024 Homebuying Optimism Soars: Federal Reserve’s Potential Rate Cuts Spark Hope
In the landscape of American homeownership, 2024 brings a surge of optimism for potential buyers. The Fannie Mae Home Purchase Sentiment Index saw a robust 2.9-point increase in December, reaching an encouraging 67.2. Notably, 17% of consumers now view it as an opportune time to purchase a home, a significant uptick from the previous month’s […]
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Appraised Value vs. Market Value
When it comes to real estate, understanding the value of a property is more than just a number—it’s about making informed decisions. The often-confused concepts of “appraised value” and “market value” leave many confused. Understanding the differences between the two is crucial for navigating property transactions successfully. What is Appraised Value? The appraised value of […]
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Five Ways NOT to Use Your HELOC
One of the benefits of owning a home is the chance to build equity. Equity is the difference between what you owe on your mortgage and what your home is worth. If your home is worth $300,000 and you owe $100,000 on your mortgage, you have $200,000 of equity. You can then borrow against that […]
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Heading into the New Year, Mortgage Rates Remain on a Downward Trend
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.61 percent. “The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater, Freddie Mac’s Chief Economist. “Heading into the new year, […]
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Home sales are expected to soar in these California cities next year
With mortgage rates finally easing, many California cities are expected to see home sales rebound significantly next year, according to a new forecast from Realtor.com. Five metro areas are predicted to see double-digit, year-over-year sales growth in 2024. They are Oxnard-Thousand Oaks (18%), Riverside-San Bernardino-Ontario (13.8%), Bakersfield (13.4%), San Diego-Chula Vista-Carlsbad (11%) and Sacramento (10.3%). Home sales in the Los Angeles-Long […]
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