Buying Santa Cruz real estate can be exciting.  It also can be somewhat daunting, even if you’ve done it before.  You will deal with mortgage options, credit reports, loan applications, contracts, points, appraisals, change orders, inspections, warranties, walk-throughs, settlement sheets, escrow accounts, recording fees, insurance, taxes...the list goes on.  No doubt, you will hear and see words and terms you’ve never heard before.  Just what do they all mean?  Here are the ABC’s of some typical real estate terms and their definitions:

Adjustable-rate mortgage (ARM)

A mortgage in which the interest changes periodically, according to corresponding fluctuations in an index.  All ARMs are tied to indexes.

Amortization schedule

A table which…

1924 Views, 0 Comments

Read Full Post

Fall may not always be the most ideal time to put your Santa Cruz real estate on the market, but that doesn’t mean that your sale has to suffer. Instead, use the season to your advantage when marketing your house for sale by keeping it looking its best. Here are a few tips for selling your property this fall.

1. Spruce up your curb appeal with fall colors and themes. You want your house to appear festive and inviting without adding excess clutter or anything overly personal. For instance, this may not be the year to break out the over-the-top Halloween decorations — maybe limit it to just one or two porch pumpkins.

2. Maintain the exterior. As grass starts to require less frequent mowing, don’t forget about other outdoor maintenance. Power wash…

1334 Views, 0 Comments

Read Full Post

It used to be that you spent 50 years at a company and 50 years in your Santa Cruz home, and when you retired, your home mortgage was (happily) paid off. Times have changed. Certainly, few people spend their entire careers at one company, and now many retirees are shrugging off the conventional wisdom of paying off their homes at retirement. 

Here are some points to consider if you are pondering using your savings to dispose of that mortgage on your Santa Cruz home:

• Home Value: If you are one of the unhappy folks who are underwater (that is, the value of your home is less than what you owe on the mortgage), then paying off the mortgage will secure your credit from any possible foreclosure issues should you have cash flow problems later. But paying…

1169 Views, 0 Comments

Read Full Post