Want to speed up your purchase? Here’s how:

• Act fast when there’s a home you like. If you like a property, put in an offer that day.
• Get preapproved for your mortgage. This will speed up your loan approval.
• Have all your financial documentation organized for your preapproval. This should include recent bank account statements, pay stubs, W-2s, tax returns, etc.
• Respond quickly. When your agent needs your input or your loan officer requests something, respond immediately.

Remember that any delays on your end will only delay your closing, so act with urgency and stay in touch.

402 Customs is proud to present the 8 Penrose Cottages of Fallbrook! Each Penrose Cottage has its own distinct personality and style that can be adapted to fit your specific needs. Each walkout home features parking on the back side of the home that is accessed by the paved alley, and a community friendly front porch to sit and relax on while watching the kids play, or the sun set. The floor plans are well thought out and open, with vaulted ceilings that can be changed to create more living space on second floor, or left soaring depending on your personal style preference. Every detail is planned out to get the most out of both form and function. Our Model Home features designs and selections by local design store, Gotcha Covered.

Contact us today for an appointment today to tour the model home and let us help you find your perfect cottage style!

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Did you know that a Reverse Mortgage could be used to purchase a home?

Meet the Home Equity Conversion Mortgage (HECM) for Purchase. Buyers must be 62 or older to qualify. It’s a federally-insured loan. As long as you live in the home, you will never make a mortgage payment. The loan increases over time and the interest accumulates and is added to the principal balance. The balance is due when you sell, move out for 12 months or more or die.

The catch: it requires about a 50% down payment. That creates enough equity to cover the accrued interest on the loan. The down payment can come from the sale of another home, from savings or a gift from a family member.

You just can’t borrow the down payment. Most folks will use the proceeds from the sale of a home as their down payment.

The Great Recession’s impact on the housing industry has some people wondering if real estate is still a great investment. After all, home values fell nationwide. But as the saying goes, time really does heal all wounds.

If you look at real estate over a long period of time, home values have proven to be resilient. In fact, more than half of U.S. homes are now worth as much or more than they were at the peak of the national housing boom in April 2007! National home prices are expected to rise another 5.5 percent this year.

Visits with Santa, activities with Santa’s elves, holiday music, cookies and hot chocolate. Bring your camera to capture the memories!

A FREE event for the whole family!

Santa will be there 10 AM – 12 PM & 2 – 4 PM

Neighbors
575 Fallbrook Blvd
Suite 102
Lincoln, NE

Many home buyers are willing to compromise on certain characteristics. They’ll give in on price (21%), the condition of the home (19%), the size of the home (18%), and even the distance of the home to their place of work (13%).

But according to the National Association of REALTORS®, the two characteristics home buyers are least willing to compromise on are the quality of schools and distance from schools. Just 4% of recent buyers compromised on the distance to schools, and a mere 2% compromised on the quality of schools.

Twice as many recent buyers were willing to compromise on both the quality of the neighborhood and the distance of their home from family and friends.

Real estate is all about compromise. Did you know that 76 percent of all sellers make at least one concession or compromise? The top concession is lowering the sales price (34 percent), according to a Zillow survey.

What’s surprising is that there’s a big different between women and men when it comes to compromising during a home purchase. NAR (National Association of REALTORS®) research shows that women are better overall at compromising than men. In fact, single males are much more likely to not make any compromises during a home purchase than single females, married couples and unmarried couples.

There are generational differences, too. Millennial sellers – 85 percent – make the most compromises to finalize a home sale, Generation X is next at 75 percent, followed by Silent Generation sellers at 70 percent, and Boomers at 67 percent.

There’s more than one way to become a real estate investor. The fastest, easiest way is to invest is in REITS (Real Estate Investment Trusts). They’re as easy to buy as a stock or mutual fund since you’re not buying a physical property. Made up of commercial real estate, these Trusts include office buildings, retail, apartments and hotels.

You can also buy a 2-4 unit complex, live in one unit and rent out the rest. With this strategy, your loan can be an owner-occupied, Fannie Mae loan. That means a lower interest rate than a standard non-owner occupied loan for a standard rental property. If you decide to purchase an investment property, just make sure you have more money coming in than going out!

Homeowners are expected to spend a near record $317 billion on home improvement this year. The trend is expected to continue, as areas have fewer homes for sale and homeowners have little incentive to move from homes with record low fixed mortgage rates, experts say.

What’s the biggest home improvement mistake that most folks make? Over-improving one’s home can be the costliest, housing experts say. Remodeling magazine found that only attic insulation netted an immediate return on investment (108%). A new entry door was next best (91%). Even the popular minor kitchen remodel only netted an 80% return.

In time, these improvements will net a return. But sometimes homeowners customize and overspend, thinking they’ll sell at a profit in the future, but are unlikely to ever recoup their investments.

One of the scariest things about being a first-time buyer is the unknown. It’s probably one of the main reasons 90 percent of all buyers do hours of online research before deciding to buy a home.

The entire process can be stressful. It’s complicated. It’s filled with paperwork. It’s most likely the biggest financial decision of your life. And it’s peppered with deadlines and boxes that must be checked or the entire deal can fall apart!

Real estate agents are here to uncomplicate the buying process for you. An agent is your matchmaker: he or she will help you define the qualities of your dream house and work hard to turn that dream into a reality. And since they’re pros, they’ll manage the deadlines and check those countless boxes for you so you can make an offer on your dream house with confidence.