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- Homebuyers and Credit
- El Segundo: Small Town Feel – Large City Conveniences
- Hermosa Beach
- The South Bay Is A Great Place To Go Green
- Why Buy Now?
- Home Prices Jump in the South Bay
- Town Hall Meeting Torrance: Here Ye! Here Ye!
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- Public Hearing Proposed Apartment Complex on NE corner of Crenshaw and Lomita
- “Hidden” Costs of Homeownership
Category Archives: Real Estate
Energy Awareness Month in October is the ideal time for homeowners, builders and remodelers to take a strong look at incorporating products into the home that help can save on escalating energy costs. From adding insulation in attic spaces to … Continue reading
View image | gettyimages.com Westchester and Playa del Rey properties are enjoying a spike in home values as the Silicon Beach grows in popularity amongst tech firms. The latest company to join is Yahoo, as they leave their Santa Monica … Continue reading
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates hitting new lows for the year as 10-year bond yields briefly dipped below 2 percent. At 3.97 percent the average 30-year fixed … Continue reading
Luxury Homes in the South Bay area of Southern California are available. Continue reading
How’s the Real Estate market doing in Inglewood, California? Check out July 2014 Market values. Continue reading
I have held the same Job for 25 years, but I have some negative payment history. Can I still purchase a home in the South Bay.
Employment status or employment history has nothing to do with your credit score, but some lenders may review it to determine if you are stable enough to repay a loan.
Your income has nothing to do with credit scores. Your savings has nothing to do with your FICO’s credit scoring equation. However, some lenders may consider these factors to determine the likelihood that you will default on a loan.
I cannot get a loan due to poor credit. This is not true. There are many lenders who give loans for bad credit but charge high interest rates.
Bad Credit never goes away. With sound debt-management practices, the negative marks will eventually vanish. Late payments, bankruptcies, foreclosures and collections typically remain on your credit report for seven years. (The exceptions are Chapter 7 bankruptcies and tax liens, which remain for 10 years and indefinitely, respectively.)
All Credit scores are created equal. Each of the three major credit bureaus produces a FICO score based on the information it has about your credit history. Continue reading
Ask these questions:
Why am I remodeling?
How much do I want to spend?
Is the remodeling for my pleasure or to upgrade for reselling?
Make out a budget following these guidelines:
On a $400,000 Home, You will want to cap at $60,000 for remodeling using the following percentages.
Finished attic account for 10-15%
½ bath= 5%, bathrooms,
Full bath: 5-10%
Kitchen 10-15% of the property value.
Photo courtesy of DIY Network
Photo courtesy of DIY Network
Once you have devised a budget, interview General contractors, asking for copies of their licenses and insurances, including workman’s comp. Make your choice, sign the contract and you are on your way to a beautiful like new Torrance home. Continue reading