Sacramento Real Estate and Community News

Jan. 14, 2021

6 Quick Tips so You Don't Lose Your Home Loan

 

Are you looking to buy a house but are worried about losing your loan? In this episode of Rescue Me, we're going to talk about things you shouldn’t do before or when you’re in contract to buy a house. We’ll look at why a few small mistakes could cost you your loan and discuss 6 rules to avoid them.

How Not To Lose Your Loan

There are a few things that could cost you your loan, and many of them may surprise you. To avoid any last-minute surprises, follow these key rules

Rule #1: Don’t deposit large sums of money into your account unless you speak with your lender first. Lenders have to source the monies that are coming into your account. They have to track everything and figure out where all the money is coming from. We're not saying you can't put money into your account, but you have to let the lender know so they can track the funds.

Rule #2: Don't make any large purchases. This includes things like buying a car, furniture, or appliances for your new house. Doing so can affect your credit scores and whether or not you still qualify for the loan. I have had buyers go out and buy $2,000 worth of appliances by opening up a new credit card. In doing so, they lost their loan in the middle of a transaction because they didn’t inform their lender. Again, always consult with your lender if you're making any big financial purchases during an escrow.

Rule #3: Don't co-sign on loans for anyone else. While it might be that you're trying to help someone—and chances are you'll never have to make any payments on that loan—it will still count against your credit. So please, do not co-sign any loans for anyone just before or while you're in escrow.

Rule #4: Don't change bank accounts. Very similar to putting large sums of money into your account, the lenders have to track everything. If you're changing bank accounts, it makes things very difficult for them to track. So wait until after your purchase, and then you can change banks if you're not happy with the bank you're with.

Rule #5: Don’t apply for new credit. Typically what happens with buyers is that they're very excited, and they want to go out and start buying appliances and getting things ready for their new house. They may get a great deal from one of the big box stores that says: "If you open up this credit card account, we're going to save you 20%." It sounds great, but it's a new line of credit that can affect your credit score. It could also affect your debt to income ratio and knock you out of qualifying for your loan. Don't do it.

Rule #6: Don't close any credit accounts. I know this rule sounds backward. You might be thinking, "I have five credit cards. What if I close two or three of them? It makes it look better." In actuality, it doesn't. Keep those accounts open, talk to your lender, and they'll guide you through what to do.

Consulting Your Financial Lenders

The bottom line is that if you're doing anything financial right before you're going to buy a home or during an escrow, always consult your financial lenders. They'll let you know what you can and can't do as well as what things are okay. They’ll also look out for things that could cause you a problem later down the line.

If you have questions, please reach out as I'm always happy to help. If you're thinking of buying a house and you don't have a lender, give me a call. I have great lenders I've been working with for 15 years because they do their job and they're very good at it. And remember, when you use me to buy a house, not only will you get a great home but you'll also be helping a dog get out of the shelter and into their new backyard.

Jan. 11, 2021

Predictions For The Sacramento Housing Market In 2021

 

Are you thinking of buying or selling a home and wonder what the market will be like in 2021? In this episode of Rescue Me, we’re going to discuss Sacramento’s housing market back in 2020 and look forward to 2021’s forecast. Because Sacramento was considered one of the hottest housing markets in the country last year, knowing what’s next will help you make the best real estate decisions possible.

The Sacramento Housing Market

The medium price for a single-family home in Sacramento County is currently at $440,000. This is up about 14% over last year when the median price was about $386,000. Additionally, the inventory supply in Sacramento has been low for the last few years, hovering around 1.2 months of supply. This year it's dropped to 0.6 months of supply.

What that means is in about two and a half weeks, if no new homes came on the market and we continued selling homes at the current pace, we would run out of homes to sell. When you couple that with incredibly low interest rates, home buyers are coming out of the woodworks to purchase properties. We just don't have enough homes to sell in the Sacramento area.

Most experts think that this trend is going to continue into 2021, but let's look at four experts in the housing market and see what their predictions are for this coming year.

Predictions For The Coming Year

Lawrence Yun, Chief Economist of the National Association of Realtors, has this prediction: "In 2021, I think rates will be similar or modestly higher, maybe 3%. So mortgage rates will continue to be historically favorable." Danielle Hale, Chief Economist of realtor.com, said: "We expect sales growth of 7% and prices to rise another 5.7% on top of 2020's already high levels."

Robert Dietz, Senior Vice President and Chief Economist National Association of Home Builders, predicts: "With home builders’ confidence near record highs, we expect continued gains for single-family construction, albeit at lower growth rates than in 2019. Some slowing of new home sale growth will occur due to the fact that the growing share of sales have come from homes that have not started construction. Nonetheless, buyer traffic will remain strong given favorable demographics, a shifting geography of housing demands to lower density markets, and historically low interest rates."

Mark Fleming, Chief Economist of First American, says: "Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intention of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep housing price appreciation flying high."

Housing Market Growth in 2021

As you can see, most economists and experts in the business think that 2021 is going to continue with what's happened in 2020—a very strong housing market and interest rates at an incredibly low rate. I'm seeing 30 year fixed rates at 2.75% with an FHA loan at 2.25%. At this point, they're basically giving money away for free. You can't get a better deal on borrowing money anywhere. Because of that, I do think there'll be a lot of first-time homebuyers coming out.

If you're thinking of buying in 2021, the word to have stuck in your head is ‘patience.’ Most homes are getting multiple offers, especially in the lower price ranges, and we're just going to have to be patient while we try and get you a home. If you've been thinking of selling, it’s an absolutely great time to sell. You’ll likely have multiple offers, and most sellers are getting above their list price. It's been an incredible place to be if you are going to sell your home.

I hope you found this information helpful, and please reach out if you have any questions. I'm always happy to help. We can get a plan together and I can put you in with a great lender to secure a great rate for a fantastic new home. Additionally, if you've been thinking of selling and would like some information on how to get your house prepped, I would be very happy to sit down with you and let you know where to get started. Hopefully, it's a very prosperous 2021.

Posted in Market Updates
Jan. 11, 2021

Partnering With Front Street Animal Shelter For My Adopt-A-Dog Program

 

Did you know that I sponsor a dog’s adoption with every home I sell? In this video, I’m going to explain how my program with Front Street Animal Shelter works to help Sacramento dogs find their forever homes. I’ll also introduce you to Calvin and Marvin, one of the many success stories of the program.

Sponsoring Dog Adoptions With Every Home Sale

There are a lot of animal shelters in the Sacramento area, with Front Street one of the largest. If you lose your dog or have to give them up for some reason, there's a good chance they'll end up at Front Street. Each year, about 5,500 dogs end up going through this shelter, and they do an amazing job of trying to find the families of those lost dogs.

With a few thousand dogs each year that need to find homes, I want to do everything I can to make sure every one of them finds a home and a new backyard. In my program, I sponsor a dog's adoption at the Front Street Animal Shelter with every home I sell. Once I've paid for their adoption fee, the dogs are usually out of the shelter and in their new backyard within two weeks. One of the things I'm very excited and proud about is the fact that in just two short years, I've been able to help over 100 dogs get out of the shelter and into a new home with their family.

Creating Lasting Friendships

Nothing makes me happier than seeing these dogs join their new families, and I'm often asked how did this program got started. Have you ever had an idea that just kind of sits in the back of your head and doesn't really go anywhere? This program was that idea in my head. I thought about it for a long time, but nothing happened until one fateful day. I went on a listing appointment and found out that one of the owners volunteered at the Front Street Animal Shelter. I told her a little bit about my idea and with one phone call, the adopt a dog program was born.

The biggest problem a lot of these dogs have is that people think they're damaged. That's simply not the case. Some of them might have lost their vision. Some are a little nervous because they've been in the shelters for a while and they're a little skittish around people. Despite this, all they need is a little love and they open right up.

One of the most touching stories I’ve heard comes from Calvin. Calvin recently had an organ transplant and was fighting a little bit of depression after his operation. He really struggled to want to get out of bed in the morning. One day, though, he visited the Front Street Animal Shelter's website and he saw Marvin. Calvin said there was an instant connection and, within a few days, Calvin and Marvin were best friends. Calvin's depression even went away.

Marvin is only one of over a hundred dogs that have found homes through the program—though there are lots more to find homes for. I'm very proud that I get to help people buy and sell real estate, but I'm even more proud that I know over a hundred dogs are curled up at home with their new families and I had a small part in making that happen.

Your Adopt-A-Dog Realtor

Now that you have a better idea of how the adopt-a-dog program was created and how it works, I hope you'll help me spread the word about the dogs that are looking for homes. I post every dog I sponsor on my Facebook page and I ask people to share those posts. The more people that see the dogs, the better chance they have of being adopted quickly.

If you're interested in buying or selling real estate, please give me a call. I'm always happy to help buy or sell a home and save another dog. And if you have any other questions about the adopt-a-dog program or real estate in Sacramento, please reach out and I’ll be happy to help!

Jan. 7, 2021

Dog Adoptions for January

These beautiful dogs are available for FREE adoption at the Front Street Animal Shelter.

 

Meet Honey -> Click Here

 

Meet Diamond -> Click Here

 

Meet Suki -> Click Here

 

Meet Chip -> Click Here

 

This Beauty Has Been Adopted

Jan. 6, 2021

The 9 Steps Of The Home Buying Process

 

Have you decided to buy a house but are a little nervous because you don’t know what to do next? In this video, I’m going to summarize the home buying process from beginning to end so you know exactly what to expect. By understanding the 9 steps of buying a home, you’ll be armed with all the information you need to grab a good deal and make the best decision.

The 9 Steps Of The Home Buying Process

If you're like 99% of people that have decided to purchase a home, you’re probably nervous and confused about the process.  These steps will give you a good overview of what’s coming so you’ll be ready to act and make a decision. The good deals go quick, and when a good deal hits the market you might not have time to do research later on. Thankfully, the process of buying a home is pretty straight forward once you break it down into steps.

Step 1: Choose a real estate agent. You'll want someone comfortable in the area you're searching in, with plenty of experience selling real estate.

Step 2: Pick a lender. If you don't have a lender you're comfortable with, I'm happy to give you recommendations of lenders that I've been using for 15 plus years.

Step 3: Get approved for your loan. You'll need to sit down with your lender, go over all the paperwork that's required, and get approved for the loan that you'll use to buy the house.

Step 4: Determine your wants and needs. You’ll need to sort out your wants and needs in the house you're looking for. I would suggest you watch my other video on using an exercise called The Buyer's Triangle. It will walk you through how to determine your wants and needs and what you should be looking for in your next home.

Step 5: Go shopping. This is where we’ll go look at some homes and find the right one for you.

Step 6: Submit an offer. When you find a house you like, let's submit an offer. We’ll sit down and discuss what you need to do to write the offer, making it the strongest offer possible for the market conditions that we're in.

Step 7: Complete your home inspections. There’s an inspection period after your offer is accepted, and we want to get in there and take a deep look at the condition of the property. I can help you with figuring out which inspections to have done as well as the best inspectors to work with—as I know many that I've been using for years. I’ll happily recommend inspectors I trust if you need one.

Step 8: Get an appraisal and finalize your loan. Throughout the entire process, your lender's going to be asking you for lots of documentation. It's very important that when they ask, you get that documentation to them as quickly as you can. They will also be ordering an appraisal. The bank that's giving you the loan wants to make sure that the house is truly worth what we've offered.

Step 9: Close the purchase and start moving in. The closing process will include you going to the title company and signing all of your final documents. The title company will then record the deed at the county that transfers ownership into your name. At that point, the house is yours and it's time to move in.

Making Educated Buying Decisions

While the home buying process might not seem complicated, there is a tremendous amount to do at every step. I'll walk you through everything and keep you on track to make sure we don't miss any steps. My buyer's education series is designed to educate you on the entire process from start to finish, with the goal of making you the most educated buyer in the market. You can check out the other videos in my buyer's education series by clicking here.

As the Adopt A Dog realtor, with every home I sell, I sponsor a dog's adoption at the Front Street Animal Shelter. So remember that if I help you buy a home, not only will you be finding a great house but you'll be helping a dog get out of the shelter and into its new backyard. Do you have other questions? Please reach out. I'm always happy to help!

Jan. 5, 2021

How Much It Really Costs To Buy A House

Are you looking to buy a house but want to know how much it’s really going to cost you? In this episode of Rescue Me, I’m going to explain what you can expect to pay in closing costs when buying a new home. By knowing these three main closing costs upfront, you’ll be better prepared when the time comes to make an offer.

Understanding Buyer Closing Costs

Buying a home can be very exciting, but it can also be a little scary. The more you know before you start the process, the better. The one thing you don't want in the middle of buying a home is an unpleasant surprise.

By knowing your closing costs, you can better plan and budget to make a wise financial decision. The truth is that good deals go quickly. Knowing your numbers ahead of time will allow you to take advantage of those good deals without hesitating.

There are three main things you'll be spending your money on when you buy a house. Let's take a look at those three things now.

#1: Money Down

The first cost is the money you put down towards the cost of the house. While this really isn't a closing cost, it will still be leaving your bank account. It's an important part of the budgeting process when buying a house.

#2: Loan Fees, Title Costs, And Prepaid Fees

Your closing costs can be broken down into a few categories: loan fees, title costs, and prepaid fees. Loan fees are what you pay to get the loan from the bank. Title fees are the fees you pay the title company for title insurance, as well as transferring the property into your name. Prepaid fees are things like homeowner's insurance and property taxes that you have to pay upfront. When you go to close the sale, you'll need the cash to cover both the down payment and closing costs.

#3: Appraisal And Inspections

There's one more category of things you'll spend money on when buying a home: the appraisal and inspections. I don't include these in closing costs, since you'll probably pay these fees upfront to the individual inspectors that you hire. An appraisal will typically run between $500 and $800. And the inspections? That just depends on what inspections you'd like done to your house.

How Much You’ll Pay

Now that you understand what you’ll need to pay for, the total cost really depends on the price of your home. For a rough estimate, expect to pay about 2% of the purchase price towards your closing costs. Rest assured, I have a fantastic calculator that will help me determine what your closing costs will be depending on the price of your house. If you'd like a pretty good estimate of what you can expect to pay, you can always reach out to me.

Another thing to note is that the seller can help pay some of your closing costs. While it depends on the market we're in and how things are going, we can have that conversation when we're negotiating and writing up your offer.

I hope this helps you understand what you’ll pay when you buy a house. If you're looking for an agent to help you buy a home in the Sacramento area, give me a call. And remember, when you use me to buy a home, you're also helping a dog get out of the shelter and into their new backyard.

Jan. 4, 2021

How Much Should I Spend On A House Payment?

 

Have you decided to buy a house but are wondering how much you should spend? In this episode of Rescue Me, I’m going to show you how to determine a price range you’re comfortable with before you begin your home search. By breaking down your monthly payment, we can work the numbers backward to figure out the right purchase price to fit your budget.

Understanding Your Monthly Payment

Buying a house is very exciting, but it's also emotional. Sometimes, emotional decisions lead to bad decisions. When you're buying a house, you're committing to a monthly payment. The very first thing you should do before you even start looking at homes, then, is to determine the price range you're comfortable with.

My advice is to work the numbers backward and come up with a monthly payment you're comfortable with. When you have that number, I can help you determine the purchase price based on that monthly payment. To get this number, we need to start by breaking down your monthly mortgage payment into its various parts. Adding all the parts together will give you the total house payment you'll make.

House Payment And Property Taxes

Part one and two of your monthly payment are the house payments you'll make to the bank. If you're getting a loan, you'll have a monthly mortgage payment that consists both of the principal and the interest on your loan. This will be a fixed amount based on your loan. A portion of it gets applied to paying down your loan, and a portion goes to the interest you pay for the loan.

Part three of your house payment will pay your property taxes. We'll take your annual property tax bill, divide it by 12, and that will be the amount you pay each month with your house payment.

Insurance

Part four is your homeowner's insurance. If you get a loan for your home, the bank will require that you have homeowner's insurance. It's handled the same as your property taxes. You divide the bill into 12 installments and add that to your house bill.

Parts five and six won't apply to every homeowner. If you put down less than 20%, you'll have PMI, or private mortgage insurance. If you buy a house that has a homeowner's association, the lender will take that homeowner's association fee into account when he considers how much home you can qualify for.

Finding Your Search Price

These are all the things that go into a monthly house payment. They’re also the six things that a lender will look at to determine how much house payment you can afford. Once you have your ideal monthly house payment figured out, I can help you back into the purchase price that would match that payment.

I hope this helps you determine how to come up with a search price based on your ideal monthly payment. If you need some help figuring out these numbers, please reach out. I'm always happy to help. As the Adopt A Dog realtor, remember that when you use me to help buy a home, you won't just find a great house, you'll be helping a dog get out of the shelter and into their new backyard.

 

Dec. 22, 2020

How To Use The Buyer's Triangle To Find The Perfect Home

 

Are you looking to buy a home but are having a hard time deciding where to settle? In this video, I’m going to help you narrow down your choices using a tool called the Buyer’s Triangle. By using the process of elimination and balancing your needs and wants, you’ll be able to find a home that fits you best.

Choosing A New Home

One of the hardest things about buying a home is trying to figure out where to settle. There are often so many choices that it can easily become overwhelming. Should I be near work? What are the schools like? What is the best area for my budget? All of these are completely normal questions to be asking yourself.

When you're buying a new home, I suggest using the Buyer’s Triangle to narrow down your search. It works simply on the process of elimination, based on the strengths and weaknesses of your needs and wants. Ultimately, there are three things to consider when moving into a new house: your ideal monthly payment, the convenience of the location, and the kind of features you’re looking for in your new house.

Using The Buyer’s Triangle

Before we get started, it's extremely important to know that most people don't get everything they want in their new house. The goal of this exercise is to weigh the areas against each other so you can put down on paper what's most important to you. If you could get two out of the three things on your list, you're doing pretty good. In fact, that's what most people end up getting.

For example, let's say you found a house that was at a great price in a fantastic neighborhood, but the interior wasn't as updated as you'd like. Or let’s say a house goes over your budget by $20,000, but it’s the home of your dreams in a perfect location. Alternatively, what if you stayed under budget, found everything you wanted in the house, but sacrificed location? These are all probable outcomes. You simply have to use the Buyer’s Triangle to choose what’s most important to you.

As you begin to list out your wants and needs and establish a budget, this will help you narrow down potential locations so you can begin your home search. A good real estate agent will help you realize this as well. I'm going to warn you that, in my experience, most buyers purchase homes that are completely different than the one they described to me when we first met. By doing this exercise, however, it will allow you to see what's most important to you when you're buying a house.

Finding The Perfect Home For You

By listing your needs and wants concerning location, price, and amenities, you'll be able to find the best home that fits your lifestyle. I hope this helped you narrow down your search in finding what is most important to you when you buy your next home.

If you have any other questions, please reach out. Remember, when you buy a home with the Adopt a Dog Realtor, you not only will find a great home, but you'll help a dog get out of the shelter and into their new backyard.

Dec. 1, 2020

Calvin & Marvin: A Story Of Second Chances

 

 

Do you love dogs and love hearing about a great adoption story? In this first episode of my new series, Rescue Me, I’m going to introduce you to Calvin and his furry friend Marvin, one of the dogs I sponsored at the Front Street Animal Shelter. By paying for Marvin’s adoption fees, Calvin and his family were able to easily welcome their new friend into their home.

Finding A Forever Family

Calvin adopted Marvin from the Sacramento Front Street Animal Shelter. He and his family were thrilled to hear that their new friend’s adoption fees had been paid. He had been looked over in the shelter for months, and he was in desperate need to find his forever family. As it turned out, Calvin and his family needed him as much as Marvin needed them.

Calvin and his family had been through a lot before they adopted Marvin. Calvin had received an organ transplant that saved his life just a few years earlier. He had spent five years getting sicker and sicker, to the point that he actually forgot what being healthy felt like.

The family eventually decided to adopt a dog. Calvin’s goal was to adopt the dog who had been in the shelter the longest; a dog who needed a second chance at life, just like he had. And that was Marvin.

Calvin patiently worked with Marvin every day, teaching him basic commands, going on daily walks, and filling his life with enrichment and adventure. Through this experience, he found himself again. Calvin and his family are so thankful for their new companion.

Second Chances

While Calvin thanked me, I have to give Calvin all the thanks. He did such a wonderful thing by opening up his home and his heart to a dog in need. Marvin was a dog that was thrown out and abandoned by someone and yet, Calvin was able to open up his heart and his home and give Marvin a second chance at a great life. I want to thank you, Calvin, for being such a wonderful person and giving Marvin a second chance at happiness.

If you'd like to help more dogs like Marvin find a new home, please follow my Facebook and share the posts of all the dogs that I sponsor. The more people that see these dogs, the better chance they have of finding a home quickly and getting out of the shelter.

I hope you enjoyed my first episode of Rescue Me. I would love it if you would subscribe to my YouTube channel and follow me on Facebook to share these dogs. And remember, I’m the Adopt a Dog Realtor, so be sure to stay tuned to my next episode to hear more about these amazing animals.

Nov. 11, 2020

Buy a House, Save a Dog

 

Best Realtor in Sacramento | Buy a House, Save a Dog!

Do you love dogs?

Are you interested in real estate investments or buying a home to live in? Wondering how the two combine? Well I'm here to tell you that you can have the best of both worlds!

Hi, I'm Tim Pantle and I'm a realtor here in the greater Sacramento area. With my passion for dogs and helping others, I decided to donate a portion of the proceeds from closed listings to sponsor a dogs adoption. So when you work with me, you're directly putting a dog in a new home. Want to hear more about the impact? Check out the video! These are the reasons I'm the best realtor in Sacramento; because I work to serve others. Get in touch to find out how I can help you!

#livinginsacramento #movingtosacramento #sacramentorealestate

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📲 Please feel free to reach out Day/Nights/Weekends whenever you want! We never stop working for you!! Tim Pantle

Email: tim@timpantle.com

Phone: 916-834-6376

Website: https://https://www.timpantle.com/

 

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