YOU CAN … BUY a HOME! Part II

How You Can Buy

Here are six ways buyers can take advantage of today’s real estate market.

Be realistic. Set your sights realistically; don’t expect to move directly into your dream home in the most expensive part of town. Get started in the homeownership door by buying a modest place, modestly priced – in a good location. Improve your home as you can afford to; and/or let your equity build to help you buy the dream house in the dream location later.

Closing Cost Help. If you haven’t been able to save for a down payment and closing costs, consider:
•Negotiating a gift, secured loan or shared-equity arrangement with parents or other people looking for a good investment.
•Selling something of value – with the realization that you’ll be able to replace it later.
•Penalty-free early withdrawal from your retirement for a down payment.
•Financing the closing costs, if your lender agrees, or getting help from the seller.
•Using a tax refund, a company bonus, or your lottery winnings (ha ha).
•Borrowing on your life insurance … liquidating stocks and bonds.

Pre-Approve. “Pre-Approve” yourself as a borrower by calculating what price home you can afford. Generally (depending on lender and type of financing) lenders consider your total basic monthly affordable housing cost – including mortgage principal and interest payments, real estate taxes and insurance payment. Your affordability is based on a percentage of your gross monthly income. Or, with additional long-term debts included, the ratio may increase up to 48%. Remember: Some lenders adjust these limits, based on their assessment of your financial situation and the loan plan you select. As a pre-approved buyer, you’ll have an advantage over other buyers who aren’t, when sellers are considering purchase offers.

Financing Options. Get acquainted with the various kinds of loans available: fixed rate, adjustable rate, government-backed loans (FHA and VA), assumptions, blended loans, and more. (Terms and interest rates vary considerably – among loans and among lenders; these factors, along with your income and length-of-ownership expectations, must be weighed – and Tim’s here to help you do that.)
FHA loans, for example, allow first-time buyers to put as little as 3.5% down.

Shop For A Lender. Of course, you want the best terms you can find. If you run into inflexible qualification requirements, don’t be discouraged. Some lenders are simply tougher than others. Tim can help guide you through this. In general, look for these characteristics in a lender:
•Loan programs explained plainly and simply.
•Attractive rates based on your circumstances
•Loans processed quickly and accurately
•Dependability.

Set A Consultation Appointment With Tim. There are significantly more details involved in buying a home than are outlined here. If buying a home of your own, and you would like professional guidance and counsel, let Tim help you get started with the home-buying process. It starts with just a call (or text) - 858-354-2354. Thank you … And look forward to helping you find that special place to call HOME!

Call/Text Tim Brodowski 858-354-2354 or email TimBro97@aol.com www.TimBroHomes.US
MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
BRE # 01224576

YOU CAN … BUY a HOME! Part I

How To Buy A Home In Today’s Market

Some buyers today have had their desire to buy dampened because they think they think they can’t. In fact, today’s market offers a unique opportunity to save by buying now. First of all, equity properties are available now with selections through all price ranges for starter homes, buy-up houses, executive properties and luxury estates. Today is a good time to start on the path to your dream home.
Also, lenders are offering incredibly attractive rates and innovative financing. That means your same income can qualify for more home today.
Buyers who act now not only can take advantage of today’s market, they also can begin to benefit from the Big Four wealth builders of homeownership.

Four Wealth Builders

Leverage. Leverage means using borrowed money (OPM: “Other People’s Money”) to control a property and receive its benefits. Here’s how leverage works. Say you’ve acquired a $100,000 house with only a 10% down payment ($10,000). Suppose the property appreciates 10% in the first year and house is worth $110,000. You’ve “earned” $10,000 on your investment of $10,000 – a profit of 100% in a year. (Financing costs would, of course, lower the net yield.) That’s leverage – a big return by using borrowed money.
If home prices rise only 3% a year in the next decade, the home you bought this year for $100,000 would be worth $134,392 in ten years. With $10,000 down, you’d realize a profit 629%; at 8% a year, you’d profit 1,159% due to your leveraged purchase.

Tax Breaks. You’ll also realize savings from the tax advantages of homeownership. A homeowner’s taxable income is reduced by tax deductions (for interest payments, points and real estate taxes where applicable). Later, any gain you realize at sale gets special treatment. No federal tax is payable on gains of up to $500,000 in the case of jointly filed returns and $250,000 for other returns provided the qualification tests are met: during the five-year period leading up to the sale date you must have both owned the property for a total of at least two years and the property must have been your principal residence for a total of at least two years. State income tax rules may or may not follow the federal rules.

Savings and Appreciation. Mortgage principal payments go into your own pocket, not someone else’s. You are saving and building equity as you pay for a home that is appreciating in value. (The amount of appreciation depends on inflation, the local economy and whatever home improvements you make.) To make the most of this opportunity you must hire an experienced, knowledgeable professional agent – like Tim Brodowski to help guide and counsel you through every step of the process.

Owner Pride. The fourth pillar of home owning involves, of course, many things besides keeping a roof over your head. You acquire, along with a structure, the responsibility for maintenance and repair. Most homeowners find the benefits of owning far outweigh the upkeep efforts – and many homeowners enjoy home improvement projects. You also put down roots and become more involved in the community. In short, you own an investment that builds intangible riches while you lock in your housing costs and avoid unpredictable rent hikes.

Call/Text Tim Brodowski 858-354-2354 or email TimBro97@aol.com www.TimBroHomes.US
MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
BRE # 01224576

3633 Indiana Street, Hillcrest, San Diego Listed by Tim Brodowski

This fabulous 2BR/2BA condo in Hillcrest area was recently re-painted. Open living-dining area are perfect for gatherings and entertaining. 

www.timbrohomes.us | P: 858-354-2354

Your Investment Property

As an experienced realtor, property owner, investor, and real estate wealth advisor . . . I realize keeping an “eye” on your property is very important. Knowing its current value, understanding the local real estate market, and keeping up with the most recent economic trends that affect our real estate investments can be very time consuming. Every now and then, it’s great to discuss these issues with someone “in the know”. Also, you may need property valuations for insurance purposes, updating trusts, or for any number of other reasons.

I can help! Some action items I have performed for my clients that they have found very useful – 

•Provide current market comparatives, complete with stats and an executive summary.
•Phone consultation to discuss a real estate plans and goals.
•Generate a property profile that includes property characteristics, copies of your grant deeds, trust deeds, and other helpful documents.
•Reach out to property managers and other real estate professionals to discuss the rental market (current market rents . . . occupancy . . . etc).
•Help design goals and strategies for your real estate holdings on your current and future plans. Whether it’s adding to your portfolio, changing the mix through 1031 ex-changes, or liquidating.

Let’s discuss how I and my team may be of assistance to you regarding your real estate matters. 

Call/text Tim Brodowski 858-354-2354 or TimBro97@aol.com www.TimBroHomes.US

1110 Loma Avenue, Coronado, California

www.timbrohomes.com | P: 858-354-2354

9234 Rebecca Avenue, San Diego CA

How to Buy a Home and Build Your Wealth

Dear Future Home Owner,

Would you like to bring home a more money in your paycheck?

Obviously the answer is YES! Who wouldn’t!!! An increase in your take-home pay is just one of the many benefits that you will discover when you decide to switch from renting to home ownership. Start building your own equity, not adding to your landlord’s.

Perhaps you have considered buying, but have not because you don’t know where to start, don’t know anything about the process, are not sure if you can afford it, or your dog ate the paperwork. Yeah, remember that excuse?!!!

Today’s market offers a unique opportunity to buying a home. Prices have come down from the craziness of a few years ago, there is sufficient inventory, so that it is not a seller’s market, and interest rates are very low. Interest rates are some of the lowest that we have experienced . . . that represents a great opportunity for you as a buyer. Don’t miss out on these rates. The economists are saying they will be increasing.

When you decide to give some real thought to owning property and building your wealth, give me a call. I would be pleased to help. I can answer your questions and start you on the path to home ownership. I have over 17 years of real estate experience helping people like you to get started with their particular plan and goals regarding home ownership. I would like to do the same for you. Do yourself a favor and start the process today . . . don’t wait and miss this incredible time to buy.

Well, besides the dog eating the paperwork, I can help. All you have to do is make the call. I look forward to hearing from you and advising you throughout the entire process.

Call/text Tim Brodowski 858-354-2354 or email TimBro97@aol.com TimBroHomes.US