Nevada City Virtual Tour

Thursday, March 27, 2014

Picks for Homes and Land in Grass Valley and Nevada City

Gary's Top Picks for Homes and Land in Grass Valley and Nevada City

Great opportunity.....tough to find a home in this area at this price! A little TLC and you can make this one shine! Quiet location, large back deck and great views make this one a steal! Don`t won`t last long.

Absolutely beautiful 2 acres and just 6 minutes to Grass Valley. Gentle useable park like setting frames the ranch style home. Set back from the road quiet and peaceful. Single level 2 bedroom home each with their own bathrooms. Additional half bath for guests. Open floor plan combining family room with dining room. Nice rock fireplace with wood insert stove for efficiency. Wood framed french doors bring in light and lead to backyard. Kitchen has lots of counter space, breakfast bar, garden window and skylight. Large indoor separate laundry room with access to outside. Seller added permitted bonus/storage room with bathroom and private access. Makes great guest quarters, media/music room or put your adult children living at home out there. 2 car attached garage plus attached carport. Well plus 1/2 miner's inch of irrigation water to keep everything green. Zoned res-agriculatural so bring the chickens. Fully fenced with gate.

New paint and carpet. This manufactured home has a custom stick built addition of 2 bedrooms and a bathroom which creates such a spacious home. It's light and bright with large windows in the living area making the outdoors part of your indoors. Separate family room and built in bar makes entertaining a breeze. Large wrap around deck. This is a Fannie Mae HomePath property. Purchase this home for as little as 5% down.(please check with lender for specific details)This home is approved for HomePath Mortgage financing or HomePath Renovation Mortgage financing

Very useable land, nice tree cover, local views, driveway into site, adj. 5 ac parcel may also be available. Owner may carry with 50% down. Call agent for more info

Views to live for! With a view like this, you want to live forever. Expansive 180 degree plus views centered on SW, and taking in CA from Blue Canyon to Banner Mt. Several Counties in this view. Tidy 3/2 floorplan with good views from almost all windows. Separate Living and Dining areas in a greatroom setting. Fresh paint inside and out, new flooring throughout! New W/H. Quiet, secluded feel in this country neighborhood just 8 miles from GV/NC shopping, dining, entertainment. Well-maintained one-owner property you will be glad to come home to.

Saturday, March 22, 2014

Rent vs. Own Facts

Rent Advantages
  • Fewer (if any) maintenance costs
  • No down payment required (less deposit)
  • No real estate taxes (renters insurance optional)
  • Less stress (who cares, it’s not yours!)
  • Freedom to move or downsize when necessary
  • No risk of home price depreciation
  • Can’t be foreclosed on
Rent Disadvantages
  • Rental payment may exceed monthly cost of mortgage
  • No ownership or wealth creation
  • Payments never stop when renting
  • Rent will rise over time
  • Must deal with a landlord or management company
  • No tax benefits
  • Rules, regulations, and limitations
  • More temporary, less stability
  • Always at the mercy of the property owner
  • Pets may not be allowed
Ownership Advantages
  • You can build home equity and wealth
  • Status- Status-Status
  • Sizable tax deductions possible
  • Your space, your rules (pets welcome)
  • Ability to remodel, expand, tear down
  • Pride of ownership (social status, accomplishment)
  • Potentially better for children, family structure
  • Mortgage can improve your credit history/score
  • Ability to borrow against your home (HELOC or cash-out)
  • No more monthly payments once mortgage paid off
  • Fixed payments (if you choose a fixed mortgage)
  • Mortgages are the cheapest loans available
  • No landlord
  • Can exclude capital gains when you sell (partially)
  • Inflation hedge
  • Can rent out to others
  • Can sell and use proceeds for bigger/better home
  • Retirement nest egg
  • It’s the American Dream!

Ownership Disadvantages
  • Home prices may lose value
  • Obtaining a mortgage (and finding a home) is a hassle
  • Not everyone qualifies for a mortgage
  • You must pay taxes and homeowners insurance
  • Sizable down payment necessary
  • Maintenance costs can be excessive
  • You’re “stuck” in a home (long-term commitment)
  • Increased liability and responsibility
  • Transactional costs of buying and selling
  • Taxes and insurance generally rise
  • Can be foreclosed on and lose your home

Sunday, March 16, 2014

Cost of owning a home is spiking in 2014

Cost of owning a home is spiking in 2014
Source: CNBC

It remains to be seen what will be a greater driver of housing this spring, positive equity that allows more borrowers to move, or weaker affordability that keeps them in place. Some metro regions, especially in California, have seen monthly house payments rise about 50 percent from a year ago, and as cash buyers move out of the market in 2014, the buyers left are not expected to be able to afford the home prices in these markets.

Tuesday, March 11, 2014

Homebuyers Gaining Bargaining Power as Inventory Increases

Homebuyers Gaining Bargaining Power as Inventory Increases
Source: AOL Real Estate

With a slightly more balanced market, home shoppers should expect to have more buying power this spring as more inventory comes onto the market and home prices start to level off, according to Dr. Stan Humphries from Zillow Research.

Wednesday, March 5, 2014

Mortgage Availability Improves

Mortgage Availability Improves

Written by  on Sunday, 23 February 2014 12:11 pm

 According to a new survey from Fannie Mae, credit availability is improving. For the first time in over three years, the majority of consumers believe it's easier to get a mortgage.

Doug Duncan, Fannie Mae's chief economist said, "The gradual upward trend in this indicator during the last few months bodes well for the housing recovery and may be contributing to this month's increase in consumers' intention to buy rather than rent their next home."

The Mortgage Bankers Association (MBA) says consumers are correct - credit availability has increased, particularly in the jumbo and refinance loan markets.

Delinquencies have been steadily declining over the past two years, while improved home sales and rising prices have allowed many homeowners on the edge of delinquency to sell their homes and get into something more affordable.

Credit has been extraordinarily tight since 2008, as lenders struggled with federal claims of mortgage fraud. For years, lenders raised credit standards beyond what was required to qualify for federally guaranteed loans and loans destined for purchase by the securities industry.

As the government leveled fines and made repayment settlements with many of the big banks, lenders are more willing to make mortgage loans. With the most toxic loans before 2008 foreclosed and disposed, lenders have more confidence in loans generated since then.

In fact, Transunion also reported that more loans were generated to borrowers with less-than-perfect credit in Q4 2013.

"We are on the downward slope of the mortgage delinquency curve, so we expect to continue seeing delinquency rates that have not been seen for several years," said Steve Chaouki, head of financial services for TransUnion.

With job gains growing, relatively low interest rates available and a tight supply of homes insuring equity gains, mortgage delinquencies should continue declining, and buyers should feel more confident in their decision to buy a home in 2014.

Monday, March 3, 2014

California pending home sales jump in January

California pending home sales jump in January
Source: LA Times
Buyers showed signs of life heading into the spring season, as more California homes went under contract last month, according to the CALIFORNIA ASSOCIATION OF REALTORS®. The trade group reported that pending home sales across the state rose 22.9 percent from December.

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