Monday, October 26, 2015

Best US Town for Firefighters? Riverside California

I recently read an article in MSN money about the best place to live and the worst place to live for firefighters in this country. Riverside California, located in the County of Riverside just outside of Los Angeles between LA and Palm Springs has been listed as one of the best places to buy a home and to live large for firefighters. The median income for a firefighter is about $107,000,  that's about $78,000 more than the average worker. Residents of Riverside typically spend about 26% of their income on housing, making it extremely affordable based on the term "affordable housing" where homeowners should spend less than 30% of their income on housing.  Due to this income, nearly every firefighter can afford home prices high as $653,000, the majority of homes on the market.

The average listing price for a home in Riverside is currently $411,000 with a median sales price of $325,000. This makes it very easy to afford a home for those that live in Riverside, especially for firefighters. Sales prices have jumped nearly 5% over the last year.

 Inventory has gone up due to new construction, making more subdivisions, neighborhoods and suburbs affordable to a wide range of new homebuyers. The median house sizes about 1850 ft.² and the median days on the market is about 50. The median list price is gone up about 3% to $360,000, up from $349,900 one year ago.

 In the townhouse and condominium market, the median days on the market is about 49 with a median list price of $215,000, up 2% over last year. Total inventory has also increased by 51% over one year ago due to new construction and  new project developments.

Riverside also has excellent schools with the majority of elementary schools rating 7 and above. Middle school ratings offer a wide range from 10 to 3 and highschools are primarily 6, 7 and 9, especially for Martin Luther King Jr. High School.

For more information on real estate in Riverside California contact the expert and professional home buyer assistance of Tina Droessler with Ronald Christopher & Associates.
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Thursday, October 1, 2015

Can You Sell a Home with a Lien

A frequently asked question of people needing to sell their home “as-is” is “Can I sell my home if it has a lien on it?”The answer may surprise some people but the answer is yes. The selling situation does become more complicated but selling a home with a lien is possible.  

If a home is being sold with a lien in most cases a closing attorney acting on behalf of the home seller will pay the lien in entirety from the proceeds of the sell before the title can be transferred and an official sale completed. If a home owner cannot afford to pay a lien out of pocket this is an option Usually sellers will account for the price of the lien and add it into the asking price of the home. This strategy is not always fruitful as the home could end up appraising for less and limit the type of buyer that would be approved for a loan on the property.  

Three steps to selling a home with a lien 
  1. Do Research 
With every single home sale it is important to know the value of your home. Fair market value determines what buyers are willing to pay and what banks are willing to lend. There are numerous different online tools to help you determine what your home is truly worth. Be sure to use more than one source to help you determine the fair market value of your home. There are many different variables that go into deciding home value including what comparable properties in the neighborhood are selling for , location,and the amenities in the home. Once you have a good idea of what your home is worth you can move to step two.  

  1. Set a Listing Price Including Liens and Fees 
There are costs to selling a home. If you sell traditionally there are agent fees in addition to other selling fees of closing costs and any repair costs you have negotiated with the buyer. You will need to lower your expectations of how much money you will make off the home when there is a lien. To keep the listing price reasonable you will need to consider paying the liens and fees on the home with profit from the sale.  

  1. Contact a Cash Home Buyer 
Look into selling your home to a cash home buyer who buys properties “as-is.” This can be a cheaper route when selling a home with a lien because you will not be charged for realtors commission. A cash home buyer will ask you about the financial situation of the home and take into consideration your unique selling requirements and make the fairest offer possible with no obligation to accept. When selling as is there is also no requirement to fix the home or give money toward repair and the close of the home is a quicker process.  

Gahanna Ohio Home Prices

 At any given time there are roughly 100-180 listings throughout Gahanna from commercial properties, condominiums and town homes, multi family and single-family homes. The lowest priced homes are typically about $75,000 whereas the highest priced home is about $550,000. Condominiums range from $75,000 to about $250,000 and multi family homes range from $150,000 to about $250,000. (These are the approximate averages for home prices in 2015).