Real estate expertise to give you a competitive edge and provide insight with useful information so you can make an informed decision for your real estate needs.
Home Loan Bridge Financing
Welcome to Real Estate Pro Tips.
The topic is how to buy your next home before you sell your current home. You will learn about a home buying strategy using consumer bridge loan financing that provides a competitive edge in our fast pace real estate market. Many homeowners who want to sell are stuck in a holding pattern because they have been told by their lender that they must sell their existing home first to qualify for a home loan. Homeowners are choosing to stay in their homes believe they will not be able to compete with buyers who do not have a home sale contingency or have all cash to purchase a home.
Selling your home first without knowing where you are moving creates anxiety in the homebuying process, especially when the supply of homes for sale is limited. In our competitive real estate market, any contingencies in your purchase offer signal risk to a Seller, especially if the contingency is related to the sale of your current home.
Most home sellers will not accept a purchase offer if there is a contingency for selling another property. One primary reason is the home sale contingency will impact their ability to buy their next home with a chain of home sale contingencies linked to their purchase offer.
One option is to buy your next home before offering your current home for sale.
Other things you will learn:
Other ways a consumer bridge loan can be used to help purchase a primary residence
Rates and fees accompany a bridge loan
What borrowers consider when exploring bridge loan financing
Pete Sabine and Leslie Whitney are Realtors with Compass in the San Francisco Bay Area. Mark Hanf is the broker and president of Pacific Private Money, one of the fastest-growing private lenders in Northern California. Pacific Private Money is different from conventional lenders.
To find out more about our real estate services and expertise go to http://OurFiveStarTeam.com.
Listen to our Real Estate Pro Tips podcasts. You can find our podcasts on Spotify and at http://RealEstateProTips.Podbean.com
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Learn about Pete Sabine & Leslie Whitney
Compass Real Estate license #01866771
What You Need to Know About Homeowner Insurance
What You Need to Know About Homeowner Insurance.
Homeowner insurance is not required by law. The purpose of insurance is to make you “whole” again should your property experience a loss. Your home is likely to be your most asset, and protecting this asset is essential. Also, if there is a lender involved, homeowner insurance is a requirement.
Listen to our podcast. Pete Sabine and Leslie Whitney interviews their guest, Alie Lopez. Alie is a Senior Sales Associate with Pro Insurance Solutions and she provides useful information and valuable insight about what you need to know about homeowner insurance.
Visit the Pro Insurance website
Alie Lopez can be reached at 415-223-7514 or email@example.com
1:17 Basics of Home Insurance
2:56 Standard and Basic Policies and Additional Items
4:00 Extended Replacement Costs
7:00 Adding Coverage Beyond the Standard
7:33 Natural Disaster Coverage
8:14 Identity Theft Coverage
9:26 Umbrella Policies
11:43 Tips to Reduce Premiums
12:25 New vs Old Home Insurance
13:39 Filing a Claim
14:19 Wildfire Coverage
16:04 Recommendations for insurance when to buying a home
17:14 Flood and Fire Hazard Zones
18:01 Preparing a Home For Sale for insurance coverage
18:45 Wrap Up/ Contact Info
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Five Star Real Estate Team
How to Sell Your Home In A Hot Seller's Market
We have talked about what it takes to buy your home in a sellers' market, but what about the other side of that coin?
What if you are looking to sell your home in a sellers' market?
A favorable real estate market does not guarantee that you will automatically walk away with top dollar for your home.
In this episode, Leslie Whitney and Pete Sabine break down what sellers need to know to get the highest possible sold price in a sellers' market.
2:12 Selling a Home Above the List Price
2:42 As-Is Sales
3:42 Other Recommendations
4:43 Pricing a Home to Sell
5:41 Creating Competition
7:03 Most Important Items a Seller Should Require
8:12 Valuable Attributes to Look for When Hiring a Realtor
8:34 Wrap up
Five Star Real Estate Team
New California Law Affects HOA Rental Restrictions
California Assembly Bill AB 3182 changes homeowner association rental restrictions.
Despite fierce opposition, California Governor Newsom signed Assembly Bill 3182 into law on September 29, 2020.
AB 3182 creates a new Civil Code Section 4741 which voids rental limits below 25% of the members. Per Civil Code 4741, a condominium or stock cooperative association may not unreasonably restrict the rental or leasing of the owner’s unit.
Will AB 3182 help to solve the #CaliforniaHousingCrisis?
Join Pete Sabine and Leslie Whitney as they discuss the changes and potential impact on the California housing market.
1:13 New Civil Code 4741
3:13 The intent of AB 3182
4:14 New rental restriction rules
4:53 Impact on Short Term and Transient Rentals
5:53 Owner-Occupied Rentals
6:55 What is an Unreasonable Rental Requirement?
7:59 Tenants Abiding by HOA Rules
10:34 HOAs Must Amend Rules to Comply with AB 3182
12:00 HOA Rental Restrictions
13:59 HOA Approval Contingency in your Purchase Contract
14:56 Wrap Up
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Pete Sabine & Leslie Whitney
Call or Text 925.297.5335
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Compass. License #01866771
Understanding Real Estate Appraisal Reports
In this episode, the topic is Understanding Residential Real Estate Appraisals.
You may have recently entered into an agreement to purchase a residential property or you may have completed a loan application to refinance your home.
Lenders are required to obtain an appraisal, prepared by an impartial and unbiased appraiser, and use it as the primary tool for assessing the sufficiency of your collateral.
You may want to retain an appraiser to provide an appraisal to help you make decisions such as buying, selling or refinancing your home. This podcast will help you understand the residential appraisal.
2:17 Basics of an Appraisal
4:37 Why is an Appraisal Necessary?
5:31 Developing the Value Opinion
6:01 The Appraisal Process
7:10 Sales Comparison Approach
7:57 Comparable Sale/ Listing
11:00 The Cost Approach
15:25 Income Approach
17:06 Opinion of Value
17:59 Appraisal Reports
20:28 Appraiser Independence
23:24 What if a Correction is Necessary?
24:46 Options in a Flawed Appraisal
25:43 Fraudulent Appraisal Practice
27:03 Out-of-Town Appraisers
29:37 Information to Provide to an Appraiser
32:24 When an Appraiser Inspects Your Home
34:21 Appraiser Codes
35:15 Wrap Up
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What to Know About Home Inspections
Buying a home or property is probably the biggest purchase you will ever make. It's important to make sure your inspection is done by a highly qualified and educated professional.
You must understand the condition of the property before completing your purchase transaction. Home inspections give you the opportunity to have the home thoroughly examined by a professional trained to find significant defects and safety hazards.
Investing in the cost of a home inspection can be well worth it for peace of mind and to avoid the cost of repairs not disclosed by the seller.
Join Pete Sabine and Leslie Whitney as they interview professional home inspector Shaun Lenhart with LHS Inspection Services.
3:34 What is a typical Home Inspection
4:51 Being Present during the Inspection
8:07 Building codes have changed over time
11:06 What is the cost of a Home Inspection?
11:52 Condo Inspections
14:14 What is a Third-Party Inspector
15:40 California Real Estate Inspection Association (CREIA)
18:18 American Society of Home Inspectors (ASHI)
20:07 Property Inspection Reports
21:52 Permits and Building Codes
24:39 HVAC Inspections and Maintenance
26:13 Water Heaters
28:22 How much time does it take to inspect a home?
28:53 Multi-level inspections
30:20 Red Flags discovered during inspections
33:10 Telling tales about cracks
35:26 Answering questions from seller property disclosures
36:40 How long does it take to deliver the report?
37:10 Should you complete the sale or not?
40:52 Proactive vs. Reactive
41:50 Wrap Up
Five Star Pro Tips
Pete Sabine & Leslie Whitney
Call or text 925.297.5335
Compass. License #01866771