Category Archives: Santa Maria homes for Sale (topics)

Achieving The American Dream

Achieving The American Dream

The American Dream. Having a loving family, attaining a stable job, and most importantly possessing your own home, even if it’s not in Santa Maria, California or somewhere near the Central Coast. All of these accomplishments can be challenging at times, especially taking the next step of  having your own home. With financial planning and legalities, it all starts with a bit of knowledge of the industry and some research.

Purchasing a Home in the United States

The United States Real Estate market is tremendous, especially the Santa Maria Real Estate area since it is continuing to grow. One thing to keep in mind is that each state has their own unique set of policies, set of laws, and not to mention taxes. So don’t be surprised when you notice different tax rates in various cities and states. Also Keep in mind that their are many incentives for individuals such as veterans who have served our country. Veterans qualify for loans known as VA Loans and many lenders out there offer these kinds of incentives that better help them achieve the home of their dreams.

Property Taxes

As mentioned above, taxes vary by state. So when you are asking yourself how much house can I afford, do not forget to include property taxes as the tend to add up. They are used to fund public projects such as schools, parks, and things such as law enforcement. Knowing ahead of time what kind of taxes you will be paying will give you a better picture of the cost of living in your new home, especially if you are planning on moving out of state; do some research.

Educate Yourself On the Real Estate Market

One should also know what exactly drives house prices in the market, especially in the Central Coast Real Estate area because it has gained popularity in past years. Instability in house prices vary from state to state and from region to region. For example, a home in the Arroyo Grande, California will not have the same price as a beach from property in the Pismo Beach, California area even though their proximity is not to far apart. Same applies to locations such as Los Angeles, California and New York (especially within the city). We at Greater Mortgage Solutions and Valley Hills Realty want to teach you about the macro and micro trends that influence the real estate market. That way you can make a better decision when making a mortgage deal that is being offered to you.

So when you, a family member, or a close friend of yours is ready to achieve The American Dream, consider allowing one of our team of experts at Greater Mortgage Solutions and Valley Hills Realty help you attain the precise mortgage and the home you have always wanted. We are filled with team members that are ready to help you every step of the way.

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5th Annual Cambria Christmas Market

During the dates of November 25 through December 23 join us for the 5th Annual Cambria Christmas Market. The market has a German style of Christmas Markets with entertainment provided every night. Event information can be seen below. We hope to see you there!

Event:   Cambria Christmas Market

Dates:   November 25 – December 23

Time:    5pm – 9pm

Cost:     $5, $10, $15 (depending on the night); Kids 5 and under are free! Please refer to the Cambria Christmas Market calendar for nightly pricing.

Transportation: There are shuttles to and from the Market. The last shuttle to the Market is at 8pm and the last one from the Market is at approximately 9:15pm

cambria_christmas_market

Cambria Christmas Market

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What You Need To Know About Home Appraisals

1) Examination of the Property

The physical examination of a property is performed by an appraiser. These types of visits are usually brief if the house is in good condition. Other factors that contribute to the lengthiness of the appraisal are the Gross Living Area (GLA) and the design of the home. A home with a large living area will take longer than those examinations for smaller homes. Also homes that are designed a bit more complex will lead to longer examinations. A typical home appraisal takes about 30 minutes to complete and are required by the lender who is completing the loan.

appraiser

2) Selecting Comparables

This part of an appraisal is when the appraiser chooses a nearby house that closely resembles your home and has closed within the last 6 months. Most appraisals require at least 3 closed comparables, 2 of which have closed within 6 months and another that has closed within 12. No comparables will be taken into consideration if it has closed 12 or more months prior to the appraisal. Some lenders are now requiring comparables that are pending or still active to be included. The comparable is usually within a 1 mile radius of the location of your home but the proximity of the comparable differs between suburban and rural neighborhoods. Suburban homes tend to require a comparable that is no more than 1 mile away while homes located in a rural type of neighborhood can be as far apart as 5 miles. The appraiser will choose the most appropriate one and include it in the Appraisal Report.

no_comparables

3) Completing the Appraisal Report

After the examination of the property and choosing the best comparable sales available, the appraiser can now begin to compile the Appraisal Report. The appraiser evaluates all information that is entered into the report so that they can determine an accurate Market Value of your home. This report is usually handed back to the client after seven to ten business days of the appraisal.

appraisal_report

These three main categories are what complete an appraisal report when trying to sell your home. Though they may vary somewhat throughout real estate, this is typically how an appraisal is performed. Next time you are looking to sell your home keep these topics in mind so that you are aware of what the appraiser is looking for.

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What Everyone Should Know About Credit Scores

For starters there are different classifications for what is considered a good credit score. They can also be described as poor, average, good, great, excellent, or even exceptional based on the credit score number that you have. Your credit score will fall within one of these categories, but keep in mind the names for these categories differ from industry to industry but to give you a general idea of how good, or bad your credit score is, we have provided you this article outlining what most lenders or banks, even credit card companies and car dealerships, use to determine the likeliness of providing you with a loan at a reasonable rate. Below there is a pie chart outlining what FICO classifies credit score ratings nationwide.

fico-score-graphic

A good credit score depends on many factors. A credit score when applying for a mortgage is different when applying for a credit card or a car loan at your local dealership.
Based on our experience most credit scores, or what seems to be the average among individuals, fall within 620 to 669. A score between 670 to 680 would be considered above average or generally good credit for most lenders. Anything between 680 and 720 will be measured as excellent or very good credit and will help you attain that interest rate that everyone wants. Now, generally anything above 750 will be seen as exceptional credit, which is what lenders like to see. The higher your score, the better credit decisions lenders will make because they will be more confident that you will repay any future debts.

Credit scores are used by lenders, including banks providing mortgage loans, credit card companies, and even car dealerships to make decisions about whether or not to offer you a reasonable loan and what the terms of the offer (such as the interest rate or down payment) will be. We have broken down the differences among these types of loans below.

Home Loans
Mortgages have two key credit score requirements. The first is the minimum score needed to qualify for the mortgage and the second is also a minimum score but this is for qualifying for a low interest rate. Keep in mind that when buying a home there are many types of loans that one can attain. There are conventional loans, FHA Loans, and VA Loans, all with different minimum credit score requirements.

Credit Cards
Credit card lenders do not reveal their requirements unlike mortgages, credit card issuers don’t disclose their standards. There is no data readily available to the public in regards to credit cards.

Car Loans
Also with car loans, there are no set standards, and credit score requirements vary from one lender to the next. Just like the rest of the type of loans (mortgages and credit cards) it is best to keep your credit score in the above average section of credit score rating. To get the best possible interest rate available as well as the type of loan you can be approved for.

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597 Fairlane Pl, Home In Orcutt For Sale

If you are looking to buy a home for sale in Orcutt, Ca. with lots of potential and have gotten yourself pre-qualified for your home loan and ready to buy a home. This home is full of potential with a 11,000 plus lot, enough room for a play area for the kids and a garden and even has a enclosed workshop. Close to distinguished Orcutt schools and easy freeway access. Bonus room which can be used for entertaining, pool table included. Granite countertops in kitchen and bathrooms, Marble title fireplace. This home has so much potential just needs someone to give it some TLC!


Single Family Home for sale in Orcutt, CA

Overview

Maps

Photos

$290,000
Single Family Home
Main Features
3 Bedrooms
3 Bathrooms
1 Unit
Interior: 1,255 sqft
Lot: 11,326 sqft
Location
597 Fairlane pl
Orcutt, CA 93455
USA

Valley Hills Valley Hills

01321588
(805) 352-1100
gene@valleyhillsrealty.com
http://www.ValleyHillsRealty.com

Listed by: Valley Hills Realty

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