While every homebuyer’s dream is to move into their dream Santa Ana real estate as quickly as possible, expectations are quickly tempered when the home they can afford is limited by their budget. One appealing option for many homebuyers struggling to enter the real estate market is to purchase a fixer-upper Santa Ana homes for sale. While the low price of a fixer may be enticing, the outcome can be disastrous if you buy the wrong kind.

The best Santa Ana homes for sale to fix up would only require minor repairs such as replacing antiquated wallpaper or flooring. However since a multitude of homebuyers and Santa Ana real estate investors are scrambling for this type of property, it’s almost impossible to come across this opportunity. But there’s hope, you can find certain visually unappealing fixer-uppers other buyers will pass up.

In contrast to the minor fixer-upper, you’ll find Santa Ana real estate in need of major repairs including structural changes, adding rooms, demolishing walls, and much more. Unless you have a relative who’s a contractor, you’re smarter to skip these money draining properties, especially if they contain major health violations (like mold) or are unlivable due to extreme damage. Let’s explore the 3 reasons you should pass up these type of properties:

1) Getting A Mortgage May Be Tough – If the property has significant defects, a bank may require you to complete a certain number of repairs before it approves your loan. If you don’t have the funds to complete the repairs, the bank won’t approve the loan.

2) Major Repairs Can Deplete Your Bank Account – If your original purpose of looking at fixer Santa Ana homes for sale is because that’s all your budget could afford, how will you raise the extra money for major repairs? Even a simple cosmetic fixer can require minor remodeling. If you’re considering purchasing a fixer, be sure to set aside money for future repairs.

3) Be Prepared For Extra Stress And Commotion – Going through a major remodel can disrupt your daily life. Not only will you experience extra stress, you’ll have to take time off work to periodically monitor construction projects. Make sure your family has discussed how to cope with these additional inconveniences.

Your best option would be so search through fixer Santa Ana homes for sale somewhere in between the two extremes: a home needing moderate repairs you can handle on your own or with some professional assistance. Choose a home that only needs new paint, carpeting, or tile work rather than a new roof or major electrical upgrades. If you do find a property that fits your criteria, make sure to:

1) Stop by your city’s building department and discuss your plans with them to see of there would be any problems. Each city has it’s own set of codes regulating any remodeling upgrades such as electrical and copper piping, height restrictions, setback rules, and other limitations.

2) If you plan to add a second story or a room, be sure to consult with an architect, contractor, and engineer about the feasibility of the project and estimated costs.

3) If you’re buying fixer Santa Ana real estate with another party, be sure to discuss how everyone will deal with the resulting stress and extra responsibilities coping with contractors and work

If you’ve been rejected for a home loan because your credit and income wouldn’t qualify, consider looking at Santa Ana homes for sale together with a family member or roommates in the same situation. With your combined financial resources, you’ll have a higher chance of being approved by a lender. If you and your roommates decide to cobuy Santa Ana real estate together, at least you’ll minimize the typical adjustment period associated with a new co-owner.

One viable option to consider is looking at Santa Ana homes for sale with separate units, such as a duplex. Everyone would have the privacy of their own separate entrance, kitchen, and more. Even though there may be advantages with this setup, the issues of maintenance costs for the land and property still need to be discussed.

One cost effective option is to buy a single home and divide the living area into separate sections. The only problem with this setup is you lose the benefit of having your own private space. If possible, try to buy Santa Ana real estate where the layout allows you to easily separate the living space.

It’s important to spend time discussing some key financial issues and issues unique to co-ownership before you jump feet first into a co-buying situation. One vitally important concern will be how the down payment and monthly expenses will be apportioned. Are you going to divide everything evenly or will you divide everything on a percentage based on the amount of down payment invested, the size of bedroom assigned, or other criteria? A good idea is to check with a tax professional on how your arrangement will affect your tax situation.

Another major concern is who inherits the property if one joint owner dies? Will it pass to the other owner or to the deceased heirs? What about if one owner wants to move out-can he or she rent their part of the home, sell it, or force the other owners to sell or buy their portion out?

Taking proper title to the property can have major consequences when not done wisely. It’s best to seek the advice of a trained attorney before deciding on what kind of ownership to list on the deed. Some popular ways to list ownership on a deed are joint tenants with rights of survivorship or tenants in common.

Other issues you should agree on include what length of time everyone plans to live in the house (also what options are available when a co-owner decides to marry or when an elderly parent needs constant care); what course of action should be taken when a co-owner becomes unemployed; what style to furnish the house; and house rules (such as cleanup, household supplies, sound level of music, and overnight guests).

Co-buying a house is a major decision that requires the right co-buyer to be successful. Make sure you spend quality time discussing all these important issues with your partner and solidify it with a legally binding contract drafted by an attorney.

As you check out Santa Ana real estate-homes for sale, you probably started out with a dream of the perfect home you wanted to buy. However as you searched the market, reality set in, and you had to lower your expectations on the square footage, location or some other feature. Instead of a five bedroom home, you had to settle for a three bedroom with some of the kids sharing a room. Or maybe you had to sacrifice the large family room for a smaller one.

Now just because you have to reduce your expectations doesn’t mean you can’t find opportunities to buy a great starter home. One great strategy is to locate Santa Ana real estate-homes for sale in an up and coming neighborhood. These opportunities are easy to spot by driving through a neighborhood and seeing if any remodeling activity is going on. Checking out the habitats of local artists can also lead you to an up and coming community.

One main advantage of buying a starter home is the ability to get into the Santa Ana real estate market and begin building equity. While a starter home may not possess every feature you want, it gives you the opportunity to build equity for a better house in the future. This technique is suitable for homebuyers who anticipate a rise in income in the future. While being able to save money can help you buy a better home, you can still use the equity from your starter home to move into a larger one. Despite the advantages of owning a starter home, there can be drawbacks you need to know about:

1) Affects Your Finances – Owning a home will affect your monthly budget. Not only will you invest a large part of your savings for a down payment, but you’ll have to cover extra costs such as home inspections, appraisal of the property, real estate agent commission, closing costs, and moving costs.

If you think checking out smaller Santa Ana real estate-homes for sale in a nice neighborhood will save you money, you may be in for a surprise. Land costs in nicer areas can be expensive depending on which community you plan to buy into.

2) Pick A Mortgage With Money Saving Terms – It’s not uncommon for you to find loans charging you prepayment penalties and points. These fees can eat a good portion of your equity. If possible, shop for a home loan with no prepayment penalty or points.

3) Keep Your Options Open In A Down Market – In a tough economy and a sluggish real estate market, your home won’t appreciate much. If this happens, be aware of the potential consequences if you need to sell your home during this time. You could end up losing money on your home and have a difficult time upgrading to a bigger house.

Although there are downsides to buying a starter home, many homebuyers continue to use this technique to enter the Santa Ana real estate market. Owning a home can be a rewarding experience and buying a starter home is a good first step.

For more information on Santa Ana real estate-homes for sale, give me a call today!

When buying a home, it’s easy to become wrapped up in the here and now rather than think about what your life will be like within a few years. However, there are 5 key factors that will affect the quality of life in your home. Let’s explore each of these factors in more detail:

1) What’s your Dream Lifestyle? – Does the nightclub scene suite your taste? If so, you probably want a home close to the hot spots of town where you can walk home. if you’re a business traveler, you may want to consider a town home or condo in close proximity to the airport.

2) Number Of Household Members – If you don’t plan to marry, live with a partner, raise a family, or have your parents move in, a home with less square footage may be fine. But if you expect your household to grow, be sure to evaluate other features such as quality of public schools, number of bedrooms, bathrooms, and lot size.

3) How Will You Use Your Home? – If you have a certain hobby, work at home, like to entertain, or cook a lot in the kitchen, you’ll need to find a home that suits those particular needs. If wouldn’t make sense to buy a home with just a carport when you have a home business that needs a garage to store products.

4) Daily Activities – Do you love remodeling vintage homes to their original condition? Do you have plans for a backyard paradise? Then you might consider buying a home in the outskirts of town with a larger yard. But if you like being close to the nightlife or hosting big parties, a home in the busy city may be more suitable.

5) Buying a Home For An Investment? – If you’re financially challenged and only able to buy a smaller home, a good strategy would be to purchase a smaller home that needs minor cosmetic work in a good area. Over time with a little investment of effort, you could restore the property to mint condition and sell if for a large profit. Then you can use the profit generated from the sale to fund the purchase of a larger home or even investment property such as a duplex.

If you follow these 5 lifestyle tips, you’ll choose a home perfectly suited to your individual need. One great technique designed to help you develop your home buying goals is to imagine what your life could be like in the next 5 years. You can brainstorm with a friend or family member and jot down any ideas that come to mind. Of course your ideas must be realistic for you to get the maximum benefit from this exercise. By engaging in this exercise,
you may be surprised to learn a different type of home may be more suitable for you.

As you check out Santa Ana real estate-homes for sale, one important feature that can affect the resale value of your home is the location. When you buy a home in a desirable location of town, it will be much easier to sell as more people are willing to purchase it. This will definitely raise your resale value and you benefit from a higher profit margin. However if you check out Santa Ana real estate-homes for sale in less searched for locations, the resale value will be lower due to less demand. Let’s examine some of the neighborhood features that can raise the value of your home.

1) Local School District – Higher rated public school districts increase the demand for homes in that community. If you plan on sending your kids to the local public schools, you’ll want to put this at the top of your criteria for the ideal neighborhood. If you’ll be using a private school for your children, this feature may not be so important.

2) City Crime Rate – Living in a community with low crime is a great feature. You’ll find that heavily populated areas have a higher crime rate compared to less crowded areas. If you decide to live in a less crowded area because of the low crime rate, be aware that you’ll invest more time on the road traveling to work and other activities.

3) Local Amenities – The quality of shopping, activities, and other local conveniences can also affect the desirability of the neighborhood. Areas with a good variety of local stores and activities tend to raise the resale value of your home.

4) Home Size – Be sure to check out Santa Ana real estate-homes for sale with a square footage similar to those surrounding it. A larger home located among smaller homes will sell for less than if located in a community of similar large size homes. You may be tempted to buy one because of the increase affordability, but be aware the trade off is your home will not appreciate as quickly since most home buyers attracted to that area are searching for smaller sized homes. Homes that are uniquely remodeled and out of character for the community will also have a lower resale value as the property clashes with the uniform styling of other homes next to it.

5) Is The Neighborhood Becoming More Popular? – Does the neighborhood look up and coming? If you take a tour of the community and see homeowners remodeling their homes, new landscape, and new stylish boutiques opening up, that’s a good sign the community value will increase in the future. If you get in at the right time, you could end up with a higher profit margin when you sell. A visit to the local city planning department will tell you if a community is undergoing a renovation.

For more information on Santa Ana real estate-homes for sale, give me a call today!

Checking out Santa Ana real estate-homes for sale involves a significant investment of time and energy to find the right one. When the Santa Ana real estate market is hot, it becomes even tougher to submit your offer first and beat out the competition. In order to increase the odds of having a seller accept your offer, you’ve got to go the extra mile to make it stand out. Let’s study some techniques to help your offer shine ahead of the competition:

1) Act Fast – If you’ve found the home of your dreams, the odds are great there are other hungry homebuyers who feel the same way. If you want to beat the odds and have your offer stand out, you need to move fast and be one of the first homebuyers to make an offer.

2) Have Your Santa Ana Realtor Personally Present Your Offer – If the seller is open to meeting with your Santa Ana Realtor personally, have your Realtor present your offer in person. This way the Seller can hear why your offer is the best.

3) Make The Highest Offer – By making your offer higher than the rest, you’ll stand out ahead of the crowd. Your offer can jump out ahead of the competition even by just being a few thousand dollars higher.

4) Tell Your Personal Story – When your agent presents your offer, include a letter telling why you want to buy the property over other Santa Ana real estate-homes for sale and what you love about it. Be sure to include info you think the seller would be interested in knowing such as how their beautiful backyard landscaping will be cared for. While some agents may scoff at this idea, this strategy could make the difference between your offer being accepted if the seller just happens to have fond memories of their backyard retreat.

5) Limit Your Contingencies – While it’s normal to have standard loan contingencies and inspections, be careful not to overdo it. If the home market is hot, some buyers will even be willing to pass up inspections just to get their hands on a home. While this isn’t advisable due to the risk of hidden defects, be prudent when it comes to the number of contingencies you submit.

6) Be Pre-Approved – This lets the seller know you’re a serious contender and won’t have any problems removing the loan contingency in the future.

7) Offer The Best Terms – In a hot market, you can make your offer stand out by offering all cash and removing the loan contingency. Consider the option of funding your purchase with your down payment and money borrowed from family or friends. After purchasing the house, you can qualify for financing and repay the money you borrowed.

For more information on Santa Ana real estate-homes for sale, give me a call today!

Buying a home can be a significant event in your life. One important feature that can’t be ignored is the location of the Santa Ana real estate-homes for sale you want to buy. If you’re a renter, this may have been something you’ve taken for granted due to the fact you could easily move at the end of your lease. But choosing a good location for your new home could mean the difference between living happily or living miserably.

Once you settle into a home, the last thing you want to do is move again soon. Your focus is on getting comfortable with your new neighbors and the surrounding community. Buying the right Santa Ana real estate-homes for sale with an ideal location also raises your resale value for bigger profits.

Each person has distinct needs and preferences when it comes to the features desired in a neighborhood. You need to choose the neighborhood that matches your particular needs. Here are five features you need to match to your individual preferences:

1) How Safe is the Community?
While we all prefer to look at Santa Ana real estate-homes for sale in a great area, there’s always a trade off for this feature. Outlying areas tend to have less crime than heavily populated areas. But are you willing to settle for less amenities and the convenience of having resources close by?

2) Local Amenities – Time is a valuable commodity in todays busy world. Juggling work, going to the market, children’s activities and school, daycare, dentist, entertainment, and time waiting for public transportation
consume most of your day. If you decide to look at Santa Ana real estate-homes for sale farther away, you’ll be dedicating more time to
traveling. It’s important to put a great deal of thought into how much extra time you’re willing to sacrifice towards traveling.

3) Master Planned or Vintage Community? – What style of community do you want to live in? When buying a home, you have a choice of living in a newer master planned community or a historical neighborhood. If you like a variety of homestyles and the beauty of mature landscaping, you may
want to consider buying into a historical neighborhood.

4) Schools – The quality of the public schools will be an important feature if you have children. Even if you don’t plan on having children, your home will have a higher resale value when you do sell. If your kids will be attending private schools, this feature may not be as important.

5) Are There Zoning Restrictions? – If you plan to remodel a home to suit your particular needs, be sure to check if the city has any zoning restrictions that might interfere with your plans. Some zoning regulations limit the changes you can make to a home. This ensures a uniform look throughout the neighborhood.

For more information on Santa Ana real estate-homes for sale, give me a call today!

New home planned communities or developments are sprouting up all over the U.S. Statistics show that up to 1.6 million new homes are being constructed each year. If you’re a homebuyer searching for new Santa Ana real estate-homes for sale, there’s nothing like the anticipation of moving into a brand new home tailored just for you. In spite of the positive features offered by a new home, there are negative features you should be aware of. First let’s go over the positive features:

1) You’ll Be The First Owner – There’s nothing like the feeling of moving into a brand new home designed just for you. You can expect everything to be immaculately clean.

2) The House Was Designed Just For You – With new Santa Ana real estate-homes for sale, you get the opportunity to customize certain features of the home including the paint color, type of flooring, and grade of fixtures. You also get the option to select the floor plan suited to your particular needs.

3) Modern Conveniences – You’ll find new homes offering features designed just for today’s lifestyle. Convenient features like an attached 3 car garage, open floor plan, and high speed phone and cable lines. New homes also come with built-in energy saving appliances that won’t need replacing for at least a few years.

4) Green Friendly – New homes are built with energy efficient construction materials designed to save you money on your electric and gas bills. These materials also reduce our consumption of earth’s natural resources.

5) Master Planned Community – As you look into buying new Santa Ana real estate-homes for sale, you’ll find most of them built in master planned communities. Many of these communities have HOA (Homeowner’s Association) rules and guidelines every homeowner needs to follow. These communities also feature community swimming pools and recreation centers.

Now let’s examine the disadvantages to buying a new home:

6) More Expensive – As you price the new home market, you’ll find they cost more than older homes. However when it comes to selling your new home, the resale value will be higher. Another benefit to buying a new home is you can find some good financing deals offered by the builder.

7) You Have To Deal With The Builders Agent – When buying a new home, you have to use the builder’s designated agent. Unless they cooperate with outside brokers, you won’t have an agent watching out for your best interests.

Break In Period – As the first owner, you get to be the first one to test out the features of your home. It’s not uncommon to discover flaws or defects in materials or workmanship when you first live in the property.

9) Postponed Finish Date – While a builder has the best intentions of completing a new home by the deadline, it’s not uncommon for the completion date to be pushed farther out. Unfortunately builders seldom pay you for the delay.

10) Regulations – Planned new home developments require all homeowners to follow their written guidelines and regulations on what you can and can’t do to your property. Unfortunately, unless you’re will to consider the option of relocating, you’re stuck having to live by these rules.

For more information on Santa Ana real estate-homes for sale, give me a call today!

Buying older Santa Ana real estate-homes for sale can be a rewarding experience. Not only do you get to enjoy the historical charm, you also save money as older homes typically cost less than newer ones. Before you decide to buy one, here are ten facts you need to know before making your final decision. First let’s examine the benefits:

1) Price Range – Older Santa Ana real estate-homes for sale tend to be priced more reasonably than newer construction homes. Although you may find the opposite to be true with vintage homes located in the heart of metropolitan areas.

2) Construction – Older Homes are usually constructed with higher grade materials such as thicker beams, solid walls, heavy duty fixtures, and solid wood doors.

3) A Community With History – In an established neighborhood, it’s easier to experience the ambiance by driving through the area. When you look at new homes, it’s difficult to get a feel of the community when you only have empty lots and drawings to look at.

4) Mature Landscaping – Unlike a newer community, older neighborhoods feature mature landscaping with mature trees and flowers.

5) Charm – Older Santa Ana real estate-homes for sale exhibit unique decorative accents and character such as beautiful crown moldings, durable built-in cabinetry, and sturdy hardwood flooring. You won’t find these upgrades in a new home unless you invest money to add these details.

While there are wonderful advantages to buying an older home, there are also drawbacks such as:

6) You Need To Invest Money To Upgrade The House – Unless it’s been remodeled, an older home will come with well used appliances and fixtures. Plan on replacing worn faucets, water heaters, and outdated lighting.

7) Higher Utility Bills – Older homes are built with less energy efficient construction materials so expect your electric and gas bills to be higher in the summer and winter.

Decor – An older home will usually feature old outdated colors, wall coverings, and flooring. Plan on spending extra money and time changing the decor to appeal to your individual taste.

9) Floor Plan Layout – Older homes were built for a different time period so you’ll find smaller rooms and a less functional layout. Unless you plan on remodeling your home, you’ll have to use your creativity to fit a flat screen plasma TV or home office.

10) Resale Value Is Less – Although older homes are more affordable, they also have lower resale value compared to newer homes of equal size and features.

For more information on Santa Ana real estate-homes for sale, give me a call today!

If you’ve been checking out Santa Ana real estate-homes for sale, owning a home may be the ultimate goal. However, your budget may dictate a less expensive option such as a condo. A condo allows you to own the internal space which is bordered by the walls, ceilings, and floors. The remaining brick walls, sidewalks, external stairwells, swimming pools and garden areas make up the common areas managed by the community of homeowners. Some positive features of condo life include:

1) Lower Cost – The sales price of a condo tends to be lower than purchasing a house. In large metropolitan or desirable resort areas, you may find the price trend to be opposite. Since community funds cover the costs to maintain the landscaping, roofing, and insurance, your monthly upkeep costs are typically less.

2) Get To Know Your Neighbors Better – A community of condo’s with common recreation areas and planned activities gives you greater opportunity to get acquainted with your neighbors.

3) Low Maintenance – If you’d rather spend your time enjoying other activities, a condo would be a good option since the community covers the expenses to upkeep the common areas. You also get the benefits of enjoying a pool or gym without the upkeep.

Now, let’s go over the cons of living in a condo:

4) Restrictions – When you join a condo association, you’ll be obligated to abide by a master deed or Declaration of Covenants, Conditions, and Restrictions (CC&R’s). The community association and all the condo owners are required to follow the CC&R’s. This document states what your common space rights are and what you can do with your condo.

5) Lower Resale – As you compare properties, you’ll find condos don’t appreciate as fast as a other Santa Ana real estate-homes for sale, so the resale value will be lower.

6) Limited Privacy – As a condo owner, you’ll have to sacrifice a good part of your privacy since common areas, walls and ceilings will be shared. If you’re used to a large backyard or have a pet, you may be frustrated with the tiny backyard space designated for your unit.

7) Mandatory Expenses – As a condo owner, you’ll be required to pay your share of association dues on a schedule dictated by the association. If you don’t use the amenities such as the community pool, you may feel frustrated paying for something you don’t enjoy.

Sometimes a community association will require special assessments to pay for major purchases (such as a new roof) it’s reserves can’t afford to cover. These special assessments can be high in situations where the building isn’t fully occupied.

For more information on Santa Ana real estate-homes for sale, give me a call today!