How do we market a San Diego Victorian Home during the Holidays?  

1. Only buy if you can’t stay put for a couple of years.If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner – even in a rising market. When prices are falling, it’s an even worse proposition. This current housing slump will not remain

2. Start by improving your credit.Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover. Please do not make any major purchases right befor you plan to purchase a home.

3. Aim for a home you can really afford.The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you’ll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford. Consult our office if you need quidance and advice along the this topic.

4. If you can’t put down the usual 20 percent, you may still qualify for a loan.There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3.5 percent of the purchase price. FHA is also a very valid alternative for financing. Of course these programs have income and credit requirements.

5. Buy in a district with good schools and convienent shopping.In most areas, this advice applies even if you don’t have school-age children and you do not shop often. Reason: When it comes time to sell, you’ll learn that strong school districts and close proximity to shopping are a top priority for many home buyers, thus helping to boost property values. Easy commuting routes and a safe neighborhood are also key attractors for buyers.

6. Get professional help.Even though the Internet gives buyers unprecedented access to home listings, and home buying information most buyers are better off using a professional agent. Look for an agent who will have your interests at heart and can help you with strategies during the bidding process. Tying the house up with an accepted offer and opening escrow is only the beginning and you should hire the best, most experienced, certified agent or broker that you can find.

7. Choose carefully between points and rate.
When picking a mortgage, you usually have the option of paying additional points — a portion of the interest that you pay at closing — in exchange for a lower interest rate. If you stay in the house for a long time — say three to five years or more — it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.