Monthly Archives: October 2016

Don’t Disqualify Yourself… Over Half of All Loans Approved Have a FICO Score Under 750

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Don’t Disqualify Yourself… Over Half of All Loans Approved Have a FICO Score Under 750 | Simplifying The Market

The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.

One such study by the Wharton School of Business at the University of Pennsylvania, revealed that many Millennials have not yet considered purchasing a home, simply because they don’t believe they can qualify for a mortgage.

The article quoted Jessica Lautz, the National Association of Realtors’ Managing Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a mortgage and doesn’t even try. The article also quoted Fannie Mae CEO Tim Mayopoulos: 

“I do think that there’s a sense out there in the marketplace among borrowers that credit may not be available, especially for people with lower credit scores.”

Ellie Mae’s Vice President, Jonas Moe recently encouraged buyers to know their options before assuming that they do not qualify for a mortgage:

“Many potential home buyers are ‘disqualifying’ themselves. You don’t need a 750 FICO Score and a 20% down payment to buy.”

So what credit score is necessary?

Below is a breakdown of the FICO Score Distribution of all closed (approved) loans in August from Ellie Mae’s latest Origination Report.

Don’t Disqualify Yourself… Over Half of All Loans Approved Have a FICO Score Under 750 | Simplifying The Market

Over 50% of all approved loans had a FICO Score under 750. Many potential home buyers believe that they need a score over 780 to qualify.

Bottom Line

If owning a home of your own has always been a dream of yours and you are ready and willing to buy, find out if you are able to! Let’s get together to determine if your dreams can become a reality sooner than you thought!

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Should I get a home warranty when buying or selling a home?

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So a question I get a ton is “Should I get a Home Warranty?”

The answer is YES….

Home Warranties do not take the place of Homeowners Insurance Policy however they also cover items your policy does not or may not…. for example you air conditioner goes out… if you have a Home Warranty in place that covers AC units… don’t worry we will spend time together discussing this, going over your options, what covers what, etc…

Let’s say it the AC (air conditioner) goes out and is going to cost $3,000 to replace… most good Home Warranties cover all AC units… and have a service fee of less than $100… so in that case you would only pay $100… and save $2900…. So it is a great thing to have in place just in case… and again I do everything I can to get the Seller to pay for this for you…

I also provide home warranty coverage for you when you are selling your home. Just some additional piece of mind.

I hope you found this helpful, if you have any questions on Home Warranties, any part of the process we have been discussing, any questions about any properties, want to see any properties, etc… feel free to Call, Text or Email me any time…

CLICK HERE to keep searching for your new home

Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC]

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Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Historically, the choice between renting or buying a home has been a close decision.
  • Looking at the percentage of income needed to rent a median priced home today (30%) vs. the percentage needed to buy a median priced home (15%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!

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Perfect events for your weekend. Oct. 14-16

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Events

Clint Black
Thurs. 10/13-Sat. 10/15, 7:30pm
Harris Center for the Arts, Folsom
In this outing, Clint will be performing selections from his new CD with his full band.
more info   map

Sacramento Fall Home Show
Fri. 10/14-Sun. 10/16, times vary
Cal Expo
The Sacramento Fall Home Show features tons of exhibitors for all of your home needs.
more info   map

Food Truck Mania
Fri. 10/14, 5pm-8pm
McKinley Park, Sacramento
Join us every second Friday of the month for great music, free bike valet parking by SABA, lots of kid fun, a beer garden and all your favorite food trucks!
more info   map

Comedy Night
Sat. 10/15, 8pm-10pm
Roseville Theatre
This is the place to be! Join top 10 finalist Taylor Tomlinson from NBC’s Last Comic Standing. 18+
more info   map

Jazz on the Vine
Sat. 10/15, 3pm-10pm
McConnell Estates Winery, Elk Grove
This event is a contemporary jazz benefit concert held during breast cancer awareness month.
more info   map

Whole Lot of Brews
Sat. 10/15, 6pm-9pm
Go Pallaido, Folsom
Enjoy an evening of unlimited craft beer sampling, with gourmet food tastings from local restaurants, caterers, and food vendors. Live entertainment. 21+ only.
more info   map

Maroon 5
Sat. 10/15, 7:30pm
Golden 1 Center, Sacramento
The Maroon V Tour is the current worldwide concert tour by American band Maroon 5 in support of their fifth album V.
more info   map

8th Annual Antelope Crossing Spooktacular
Sat. 10/15,10am-4pm
Summerhill Plaza, Citrus Heights
Come out and be thrilled by magic shows, musical acts, and other family-friendly performances. Test your skill and your luck with free carnival games and raffle tickets.
more info   map

Auburn Community Festival
Sat. 10/15, 10am-4pm
Recreation Park
Live music, giant pumpkin and scarecrow contests, arts and crafts booths showcasing local artisans and a costume contest and parade for young and old alike.
more info   map

The Sleeping Beauty
Sat. 10/15, 1pm & 3pm
Harris Center for the Arts, Folsom
Revel in the splendor of the Renaissance in this timeless fairy tale. Suggested for grades K-5.
more info   map

Toyota/NAPA Auto Parts 150
Sat. 10/15, 4pm-11pm
All American Speedway, Roseville
This NASCAR K&N Pro Series features PCS late models, legends, and mini cups. There will be a full midway, fireworks, a classic car show, and live music.
more info   map

Serbian Food & Culture Festival
Sat. 10/15,11am-10pm
7777 Sunset Ave, Fair Oaks
Serbian Cuisine, Fresco tours, music, petting zoo, kids zone, homemade pastries, Folk Dance performances, and more.
more info  FB   map

Folsom Renaissance Faire
& Shakespeare Festival
Sat. 10/15 & Sun. 10/16, times vary
Folsom City Park
The Festival will be the ultimate Renaissance bash, a lively Dionysian party, where the guests enjoy turkey legs, exotic food, and drink as they banter with the myriad performers filling the streets.
more info   map

SacPD VS Citrus Heights PD
Sun. 10/16, 12pm
Raley Field, Sacramento
Open to the public come and support your local youth. K9 demos, meet Red E. Fox, SWAT display, kids activities and more.
more info   map

Falling Leaf Crafts Festival
Sun. 10/16, 9am-5pm
Carmichael Park
Includes fun, food, a beer and wine corral, farmers market, games, a dog costume contest, pumpkin carving contest, DIY holiday workshop, artisan gift items, live music
more info   FB    map

Fall Antique’s Street Fair
Sun. 10/16, 8am-dark
Old Town Auburn
Annual Fall Antiques Street Fair. Antiques and Collectibles. Unusual bargains, jewels to junk, 200 vendors. Come early and bring a flashlight.
more info   map

Erth’s Dinosaur Zoo
Sun. 10/16, 1pm & 4pm
Harris Center for the Arts, Folsom
Meet and interact with an eye-popping collection of life-like dinosaur puppets presented in an entertaining and educational live theatrical performance.
more info   map

Herd it thru the GRAPEVINES
Sun. 10/16, 9am-5pm
Rancho Victoria Vineyard, Plymouth
Fundraiser for Horses Healing Heroes with a BBQ, wine tasting, live music and more.
more info   map


More To Do

  Movies

In Theaters Rated  
Max Steel      PG-13
Priceless
PG-13 
The Accountant          R
New DVD Releases Rated
Critics Say
Cafe Society PG-13  
Independence Day: Resurgence    PG  
Alice Through the Looking Glass    PG

Sports

 MLB PLAYOFFS 2016
SACRAMENTO BASKETBALL 
Preseason
Schedule
SAN FRANCISCO FOOTBALL
@ Buffalo
10/16 @ 10am
FOX
Schedule
OAKLAND FOOTBALL
         vs Kansas City
10/16 @ 1:05pm
         CBS
Schedule
SAN JOSE HOCKEY
              SAN JOSE HOCKEY
 @ Columbus, OH
10/15 @ 4pm
CSN-CA
Schedule
 PRO GOLF TOURNAMENT
Safeway Open
10/13-10/16, times vary
Napa, CA
Golf Network
Schedule
2016 SPRINT CUP SERIES
Hollywood Casino 400
10/16 @ 11:15am
Kansas Speedway
NBCSN
Schedule

Weather   (Extended Forecast)

Friday
Rain
67º/56º		 Saturday
Showers
69º/59º		 Sunday
Showers
66º/47º

Placer   Sacramento   El Dorado

Amador
Wine Tasting

Placer   Sacramento   El Dorado

Amador

The Crocker Art Museum

Claire Falkenstein Exhibit

Tickets on sale now!

Performance 10/26-11/6

Corn Maze Locations

Pumpkin Patches Near You!

SEARCH   l   SELL   l   WEBSITE
      

DID YOU KNOW 1 OUT OF 5 RENTERS CAN BUY A HOUSE AND DON’T EVEN KNOW IT?

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Copyright 2007 Harris Shiffman

DID YOU KNOW 1 OUT OF 5 RENTERS CAN BUY A HOUSE AND DON’T EVEN KNOW IT?

If you have a credit score of at least 620 you might be able to buy a house with little to no money down.

My preferred lenders FHA, VA, USDA, Conventional, rehab loans and down payment assistance.

If you’re sick of paying rent and thinking about buying but not sure where you stand, get in touch with me and I’ll get you in touch with a lender so we can get you out of that dead end rental and into your own home.

Your home is just a text, call, email or a click away!

Dan Herbert
RE/MAX Gold
916-995-3678
Dan@DanSells916.com

You can also check out homes for sale by visiting my website.http://dansells916.com/

Appraisers & Homeowners Don’t See Eye-To-Eye on Values

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Appraisers & Homeowners Don’t See Eye-To-Eye on Values | Simplifying The Market

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank.

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months.

Appraisers & Homeowners Don’t See Eye-To-Eye on Values | Simplifying The Market

Bottom Line

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this, and any other obstacle that may arise.

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