Paradise Real Estate

Tips for Purchasing a Short Sale, Part 2

My name is Deborah Gigliotti and I'm the transaction coordinator for Paradise Real Estate in South Lake Tahoe. I want to share weekly some good information and tips with prospective buyers of "short sale" homes for sale. You can get some great deals on short sales but there are a few things from the transaction point of view that I would like to share with you. This weeks tip is: Be prepared for a counter offer from lender. More often than...Continue Reading!

Tips for Purchasing a Short Sale

My name is Deborah Gigliotti and I'm the transaction coordinator for Paradise Real Estate in South Lake Tahoe. I want to share weekly some good information and tips with prospective buyers of "short sale" homes for sale. You can get some great deals on short sales but there are a few things from the transaction point of view that I would like to share with you. This weeks tip is: When your agent presents your offer be prepared to wait. At...Continue Reading!

6 Home Tests Every Homeowner Should Perform

Keeping your house — and your family — safe could be as simple as cleaning out the dryer lint. These checks don't require much time or money, but they could save your life. Just because you can't see any trouble in your home, it doesn't mean danger is not there, lurking in your attic, floor tile or fuse box. Indeed, your innocent little bungalow has many ways to sicken or kill you, from odorless deadly gas to electrocution to fire. It may...Continue Reading!

10 First-time-homebuyer Mistakes

A house is probably the biggest purchase you'll ever make. And, if you can avoid these missteps, chances are you'll be happy with the home you choose. Are you gearing up to buy your first place? Shopping for a home is exciting, exhausting and a little scary. In the end, your aim is to end up with a home you love at a price you can afford. Sounds simple enough, right? Unfortunately, many people make mistakes that prevent them from achieving...Continue Reading!

Could a 5-year ARM Save You Money?

With mortgage rates so low, it might be tempting to lock in a rate for 30 years. But that decision is hardly a no-brainer. Here's what you need to consider. Five-year adjustable-rate mortgages look like terrific deals, charging nearly a full percentage point less than 30-year fixed-rate mortgages. Any ARM presents risks, but for some homeowners, the five-year deal is worth considering. A recent BankingMyWay.com survey indicated that the average five-year ARM rate had fallen slightly in mid-September, to 3.58%, while the...Continue Reading!

Getting Ready to Sell Your Home

Before you start making repairs, before selling your home or marking dates on your calendar for an open house, it's smart to prepare a home selling plan. Of course, you want top dollar, but you could make costly home selling mistakes along the way if your enthusiasm for quickly selling causes you to run out and stick a for sale sign in the yard before you're fully prepared to sell. Motivation for Selling Explore your reasons for selling. Everybody has a...Continue Reading!

6 Big Consequences of Foreclosure

Finding a new home. Bad credit. Surprise tax bills. If you’re facing foreclosure, brace yourself for some difficult situations. Here’s some smart advice to help you deal with each one. These days, record-breaking foreclosure statistics are coming out with numbing frequency. But what happens to the thousands of families after their personal financial disaster is added to the mounting national count? Unfortunately, once a foreclosure is final, the financial and emotional upheaval is far from over. While there's considerable pain, most foreclosure victims...Continue Reading!

How to Avoid Getting Outbid When Making an Offer on a Home

1.  Be the first to submit an offer.  Make sure  your agent knows that you want to act quickly when a property that suits your needs becomes available.  Also, shorten the deadline on your purchase offer so that the listing agent can't use it to entice offers from other interested buyers. 2.  If you can't offer all cash, be pre-qualifed for a mortgage.  Be prepared to offer an earnest money deposit of up to 3% of the purchase price with your...Continue Reading!

5 Things Not to Do if You’re Thinking About Buying a Home

If you are thinking about buying a home, here are a few things you should NOT do. 1.  Don't make any major purchase that would create debt.  This includes furniture, automobiles, appliances, etc.  An increase in debt may make your debt-to-income ratio too high and jeaopardize  your ability to get a mortgage loan. 2.  Don't move money around.  This includes checking and savings accounts, certificates of deposit, etc.  Your lender will be reviewing your accounts as a source for your down payment and closing costs,...Continue Reading!

Things You Should Know Before Purchasing A Short Sale Home

By definition, a short sale occurs when a seller owes more for his property than it can be sold for in the current market.  The lender has agreed to accept less than what is owed to release the existing mortgage. Before purchasing a short sale home, here are some things you need to know: 1)  What are the comparable sales for that home?  In order to get your offer accepted it will need to be near market value. 2)  How much is owed on the...Continue Reading!