Whether you’re investing in real estate, the stock market, mutual funds or loans backed by real estate, you want your money working for you, maximizing your overall financial health. If you’re an investor, at the very least your goal is to find an investment with a rate of return higher than the bank would pay … Read more
Last week I encouraged prospective homebuyers to get preapproved for a loan before they look for a new home. This week I’ll share what happens next. Your preapproval provides information about how much house you can afford, allowing your realtor to recommend which properties to consider. Be aware that listing price and sales price do … Read more
If you’re in the market for a new home, before you see a single property you should get preapproved for a loan. This will save you from delays that could put your dream home out of reach, or from dropping to the bottom of the list of prospective buyers when more than one offer is … Read more
Recently, I was asked about the future value of homes in Ukiah because home sales have slowed and property values have dipped a little. Here’s why I’m not concerned: the cost to develop real estate still far exceeds the cost to purchase comparable property A typical 1500 square foot home with three bedrooms and two … Read more
Last week, I introduced Environmental Site Assessments and the cost to address any issues found (called remediation): Phase 1, Phase 2, and Phase 3. I reviewed the first phase, so this time I’ll review the last two phases. As a brief refresher, the whole reason for the assessments is to determine whether a property is … Read more
If you’re an investor or lender interested in commercial property, you’ll want to be sure to investigate whether a property has contaminants in, on, or underneath it. (While any real estate can be contaminated, commercial properties are far more susceptible than residential properties.) Exposure for single-family homes is typically a buried fuel oil tank that … Read more
A few years back, it became popular to reduce the interest expense of a home mortgage by dividing the monthly payment in half and making two payments each month. This also helped those on a budget align the timing of their expenses and with the timing of their paychecks. While I don’t hear about this … Read more
If you don’t buy a lot of property and you are not in the real estate business, chances are you don’t know much about the escrow process—which is fine unless you’re buying a house. Escrow is the neutral place where legal documents pertaining to property ownership and money to pay for that property remain safe … Read more
Believe it or not, when you turn on the tap at home, water doesn’t just magically appear. It depends on a well somewhere, whether it’s a well on your property, a private water district, or at a municipal site. Almost all the water we use comes from wells. For this article, I’m going to talk … Read more