Green Real Estate Appraiser

Californians – Buyers Assistance for Down Payment Search Tool

Posted on March 2, 2013 | Leave a comment

Did you know there are programs out there that can help homebuyers with their down payments?

Consumers in San Diego County and throughout California can see if they’re eligible for any of them through a new online tool that scours for public and private aid.

A down payment is the amount of money consumers have to provide when they’re making a big-ticket purchase such as a home. It’s a percentage of the price tag. Generally, lenders ask for 20 percent, but there are certain loans that require much less.

Can you afford to buy in a certain area? Contact the appraisers at www.scappraisals.com

Still, some potential homebuyers view coming up with the down payment, which can be tens of thousands of dollars, as a challenge. More than 20 percent of Better Homes and Garden readers said it’s an obstacle to homeownership, according to a January survey.

Enter down-payment assistance programs. They’re not new, but few consumers know about them. And those who are aware of them may have had trouble finding and navigating them.

The California Association of Realtors, a real estate trade group, this week introduced a new tool that aims to make that process easier.

To access the down-payment tool, visit mortgage.car.org, put in some basic information — such as where you want to buy and the estimated sale price — and it outlines programs that may help.

Disclaimer: for information and entertainment purposes only

Use a HERS Score When Shopping for A Home; Compare Energy Use

Posted on March 1, 2013 | Leave a comment

What: The Home Energy Rating System is a score for energy use that is designed to make it easier for consumers to compare homes. It’s often compared to the EPA fuel-efficiency stickers seen at new car dealerships — only for houses.

How does it work: The lower the index score, the more energy-efficient a home is. A new home that conforms to minimum current efficiency standards typically scores 100. By comparison, a home with a score of 70 should consume only 70 percent as much energy.

Can a low HERS score add value to your home? Contact the appraisers at www.scappraisals.com for your value questions. Southern California Appraisal Services is the West’s forerunner in green and energy-efficient property appraisals.

Who uses it: The score is recognized by the Department of Energy and the Environmental Protection Agency, and it is gaining influence among homebuilders and mortgage lenders. The Oceanside-based nonprofit Residential Energy Services Network oversees the training of independent contractors to rate homes fairly and consistently. RESNET also helps foster market demand for home energy ratings.

Q: When does the energy score come into play?

A: One of the things we’re asking of consumers is to know your score when you’re shopping for a home, so that you can tell the relative efficiency from one home to the other. Why is this important? Government-sponsored mortgage lender Fannie Mae has found that the cost of heating, cooling and hot water for a home is the highest cost of homeownership outside the mortgage loan.

Read entire article at: http://www.utsandiego.com/news/2013/mar/01/tp-keeping-score-with-energy/?page=1

Disclaimer: for information and entertainment purposes only

Foreclosure Sales: Potential Bargins Can Carry Big Risks

Posted on February 26, 2013 | Leave a comment

The vacant, dilapidated split-level rancher with the broken fence and dangling gutters has long been an eyesore to neighbors on Montrose Street in Alexandria. But Glen E. Scheirer saw it as an opportunity to snap up a dramatically discounted house directly across the street from his son and daughter-in-law, who have a son and another child on the way.

Last May, Scheirer made an all-cash offer of $375,000 for the foreclosure, which he figured would need about $100,000 more in repairs. Fannie Mae accepted the offer, and Scheirer began carting his belongings — including newly purchased appliances and furniture — from his Chantilly home to his son’s garage in preparation for the impending move.

Have questions about the value of a foreclosure? Contact the appraisers at www.scappraisals.com for your value questions.

But last month, Fannie Mae canceled the deal because it couldn’t determine whether the foreclosure had been done properly, and Scheirer is back to square one.

Disclaimer: for information and entertainment purposes only

Californians – Buyers Assistance for Down Payment Search Tool

Use a HERS Score When Shopping for A Home; Compare Energy Use

Foreclosure Sales: Potential Bargins Can Carry Big Risks

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