Hope Leitner, Realtor®, CRS

With multiple offers the norm on many listings these days, the seller relies on their listing agent to help them determine which one to accept.   In some cases, offers subject to FHA or VA mortgages tend to move to the bottom of the list. Some sellers consider all cash offers first and then, conventional offers with at least 20% down payments as the next most likely to close.   It may be because of a common misconception that FHA or VA buyers are poor credit risks and have a higher likelihood of not being approved.   Both FHA and VA do not require as strict credit requirements as conventional loans but if a buyer has been preapproved, that should alleviate that worry. A legitimate concern regarding FHA and VA contracts could be that if the appraisal doesn't come in at the sales price, the buyer has an option to void the contract.   This means that the property would have to go back on the market and valuable time could be lost.   However, that could also be true for a

  As we enter the summer season in real estate, I just want to take a moment and reflect on how far we've come since just May of 2021! Below you can see the current market update. And, under that you can see the May 2021 Market update. We had HUGE gains! I believe we will still see some gains this summer, but due to increasing interest rates, the gains won't be what they have been. That's OKAY!  We are in one of the best real estate markets of our life time - especially if you're a seller. But, if you're a buyer, interest rates are still low - not as low as they were, but they're low.    If you know anyone who might be interested in receiving this market update  every month, please have them sign up at this  link.   PONDER THIS -May is the end of Spring and the start of Summer - it's the season of possibilities. What possibilities will you turn into realities? The Real Estate Market is in a flux period - we don't know what the future holds. But, we do kn

  Information is brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties Dress Up Your Home's Decor With a Gallery Wall Are your closets overflowing with pictures and other framed goods that would undoubtedly look much better hung in a prominent location than hardly ever seeing the light of day? Hanging pictures is a great way to tie a room together and add some character and personality to your space. Instead of simply hanging one picture here and another one there, you can work through your collection a whole lot quicker if you think outside the box and cluster pictures, creating a gallery wall. But before you go grabbing for a hammer, nails and maybe even a level, assess the space and items you have lying around and come up with a plan. While you may not stick to it 100 percent once you get started–and that’s okay–having even a rough idea of how you envision the space when it’s complete will save you a lot of trouble. Stick to Your Style.  While you

In today's ultra-competitive real estate market where there is only 1.7 months supply of inventory compared to 6 months in a balanced market, and the average home is getting 4.8 offers per sale, it is more important than ever to have the right person "champion" your cause. In the Middle Ages, it became customary for a person of nobility to appoint a "champion" to fight for them in their stead.   Trial by combat ended in the 15 th to 16 th centuries but the practice of "fighting" or speaking in one's behalf continues even to this day. Lawyers will take up the cause of their client to win justice for them.   Professional athletes are recruited for their abilities to help their team become victorious.   Craftsmen of every type imaginable are in high demand because of their finished product. Sellers' and buyers' objectives are different and, in many cases opposing in nature.   Sellers, rightfully so, believe they should get th

This eNewsletter strives to give you information that will help you make an informed decision around your real estate goals. And, this month I also have a fun article about lighting - and how to make it work for your home.  I am here to support you whatever your real estate needs might be.  When you are ready to make the decision to buy or sell, give me a call. PONDER THIS -  May is the end of Spring and the start of Summer - it's the season of possibilities. What possibilities will you turn into realities? The Real Estate Market is in a flux period - we don't know what the future holds. But, we do know interest rates are rising... we have choices to make.  As always, I am here for you, your family, and friends. HOME IMPROVEMENT, HOMEOWNERS, HOMEBUYERS, FINANCE House Flipping 101 Home improvement television makes flipping homes look so easy anyone can do it. But the reality is much different. You can make a lot of money or lose money to problems that slow down your timetable

As a current homeowner, you may be basking in the consolation that you bought before the market got crazy with higher prices and interest rates. However, it doesn't mean that you may not be facing higher mortgage payments for next year. Most homeowners pay their taxes and insurance into an escrow account with their mortgage payment.   The lender monitors the account to be sure there are enough funds available when the taxes and insurance are due.   If there is a shortage, it could cause your payment to increase. In 2021, the national average increase in home prices was just under 20% but may have been considerably higher in some local markets.   The increased value of homes doesn't just affect buyers, in can affect the assessed value of properties across the board resulting in their property taxes going up. Various taxing authorities, like state, city, school, and other special districts, can establish the rate they charge and exemptions that apply.   In most sit

Homes are valuable assets and must be maintained so they function properly, are safe, enjoyable and hold their value.   Attention to maintenance, minimizing expenses and managing debt & risk will protect your investment. Maintenance It is interesting that people understand the necessity to maintain a car and regularly have the car inspected, repaired and do regular maintenance.   Even though a house could be worth many times more than a car, homeowners regularly neglect what should be routine maintenance. Failure to maintain a home properly adversely affects the value.   Many times, buyers will discount the price they are willing to pay for a home more than the actual cost of the repair or expenditure.   A home in good condition instills confidence while a home in less than good condition generates concern about unknown items that may also need repair. HVAC systems, as well as appliances, run more efficiently when they are maintained which will result in lower util

With home prices rising 20% nationwide in the past year and in some markets, even dramatically more, many homeowners are excited about the equity in their homes.   In the past, most homeowners were not concerned about profit from the sale being taxed but some may be surprised. The profit homeowners make on the sale of their homes have enjoyed a generous exclusion.   Since 1997, for qualified sales, single taxpayers exclude up to $250,000 of capital gain and married taxpayers filing jointly, can exclude up to $500,000 of gain. Prior to the Taxpayer Relief Act of 1997, homeowners over the age of 55 were only allowed a once in a lifetime exclusion of $125,000.   The new rule greatly increased the amount of excluded profit to the extent that most homeowners did not think about paying tax on the profit from their principal residences. Section 121, commonly called the Home Sale Tax Exclusion, requires that you owned and used the property as your principal residence for two out o

Summer is just around the corner.  Get your garden in the ground soon! This month there are lots of good ideas for celebrating Mom! Gator by the Bay is one of the best annual events in San Diego - an homage to the culture of New Orleans you can dance your heart out to the best Cajun and Zydeco tunes this side of the Mississippi Delta!  If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this link. PONDER THIS - May is the end of Spring and the start of Summer - it's the season of possibilities. What possibilities will you turn into realities? The Real Estate Market is in a flux period - we don't know what the future holds. But, we do know interest rates are rising... we have choices to make.  Remember, I am always here for my clients and their friends and family. Hope Opens Doors! Your trusted real estate agent, Hope Leitner