Top 5 Questions That Plague Buyers Today

1.  How do I boost my credit rating?

Financing is often the most confusing part of the buying process; it also happens to be the most important.  At the basis of this process is the credit rating.  You may know the importance of your credit rating, but are often at a loss for how to interpret or improve it.

First  - find out your credit score.  There are many free resources to get access to your personal FICO score, like freecreditscore.com orannualcreditreport.com.  Once you have that in hand, then work  to develop a plan for finding a mortgage broker or improving the score.

If you need to boost your score, start with the low-hanging fruit, such as closing out old accounts, and disputing anything on the report that looks suspicious.  From there, we can help  with more advanced strategies, such as paying off certain high-interest debts.

2. How much home can I afford?

Next to credit, the next most common worry of buyers is home price. 

Buyers need to know how much home they can afford before they start looking seriously. If they don’t, both buyer and agent run the risk of wasting a ton of time.

To help answer this question you don’t need to be a mortgage expert. You can offer estimates on the spot if you have the right tools like the Trulia Mortgage iPhone App, which will not only give buyers a good idea of how much home they can afford, but also help connect them with respected lenders who can help them begin the mortgage process instantly.

3. What neighborhoods are best for me?

Once credit and price are squared away, the next thing that’ll be on your mind is one of the trickiest of them all: What neighborhood is best for me?

One great place to start is Trulia Local, which offers data on crime, schools, commute and other topics important to buyers. In addition, find out if there are neighborhood Facebook pages or online social groups in your area to give your buyers insight into what people who live in the areas actually think of it.

4.  Is now really the best time to buy?

YES! Contact us today for data and information about the market conditions in your local area.

5.  Which agent should I use?

The Fissori Real Estate Team! 

You can visit our website at www.FissoriHomes.com to check out our bios, recommendations and testimonials. 

 These are our top 5 buyers worries and questions. What worries would you add to the list? What’s the biggest worry that you may have?

C.A.R. Predictions for 2013

California Home Sales Predicted to Continue Gradual Climb in 2013

California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to C.A.R.’s “2013 California Housing Market Forecast,” released Tuesday.

The C.A.R. forecast sees sales gaining 1.3 percent next year to reach 530,000 units, up from the projected 2012 sales figure of 523,300 homes sold.  Sales in 2012 will be up 5.1 percent from the 497,900 existing, single-family homes sold in 2011.

C.A.R.’s forecasts the average for 30-year fixed mortgage interest rates will edge up to 4 percent after six consecutive years of declines, but will still remain historically low.

The statewide median home price is forecast to increase a moderate 5.7 percent to $335,000 in 2013.  Following a decrease in 2011, the California median home price will climb a projected 10.9 percent in 2012 to $317,000.

“The housing market momentum which began earlier this year will continue into 2013,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “Pent-up demand from first-time buyers will compete with investors and all-cash offers on lower-priced properties, while multiple offers and aggressive bidding will continue to be the norm in mid- to upper-price range homes.”

“The actions of underwater homeowners will play an important role in housing inventory next year, with rising home prices inducing some to stay put and others to list and move forward," she said.

Despite the overall outlook for the state, some regions are being hit with low inventory:

“The market has improved moderately over the past year, and we expect that to continue into 2013,” said C.A.R. President LeFrancis Arnold.  “Sales would be even higher if inventory were less constrained in REO-dominated markets, particularly in the Central Valley and Inland Empire, where there is an extreme shortage of available homes.  Sales will be stronger in higher-priced areas, where there are more equity properties and a somewhat greater availability of homes for sale.”

Another study echoes the fact that some regions of the state aren’t seeing any signs of improvement.

Fiserv, a real estate data company that recently evaluated 384 of the largest housing markets, found that several Central Valley markets aren’t showing signs of recovery because of high unemployment and foreclosure rates.

In fact, the top three markets are in California:

•                Merced. This Central Valley city experienced a 69.7 percent decrease from the peak to the first quarter of 2012.

•                Modesto. A 64 percent decrease over the same time period.

•                Stockton. This city saw a 62.8 percent drop during the period.

Other markets that saw decreases more than 50 percent are Vallejo-Fairfield, Bakersfield-Delano, and Riverside, San Bernardino, Ontario.

Michele Dawson is a freelance writer based in Phoenix, Arizona.