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Whitney Ranch Large Floorplan / Large Lot / Swimming Pool and Solar Home

THIS IS THE ONE – Whitney Ranch Large Floorplan / Large Lot / Swimming Pool and Solar Home!

Welcome home to this better than new, modern floorplan with great room design; 3  bedrooms and a bonus room up; guest room, bath and office down. The home sellers  intended for this to be their “forever” home and you will appreciate their personal touches    including the iron balusters, plantation shutters, wood floors, granite counter tops and subway tile backsplash. The  home is move in ready! Be the envy of your neighbors with the large yard and fully fenced  swimming pool. Enjoy the view of your stunning backyard from the kitchen sink. For more  information visit:   www.WhitneyRanchGem.com3









Low interest rates are good for home buyers, right?  They are also very good for home sellers.  Let’s take a look at what this means.  Let’s say a home buyer would like to purchase a $300,000 home.  While there are loan programs out there that require little or no money down, we’ll assume the buyer in this example is putting 10% down.  That means the loan amount on a $300,000 sales price would be $270,000 or 90%.  The monthly principle and interest payments on a 30 year fixed rate loan of $270,000 at an interest rate of 3.5% would be $1212.42.  Now let’s say the interest rate goes up to 4.5%.  The principle and interest payments would be $1368.05, or $155.63 more per month.  If the buyer can qualify for a maximum payment of $1212.42, the loan amount would now need to be reduced to $239,285.  This means that a 1% rise in rate would lower the purchasing power of a home buyer by more than $30,000.  OUCH!  Now the total price this buyer can afford (assuming the buyer is still putting $30,000 down) is $269,285.

Now let’s assume you have a home you want to sell and it’s worth somewhere close to $300,000.  You want to sell your home quickly for the most amount of money possible with the least amount of inconvenience.  “But wait” you say.  “Home prices are on the rise so maybe I should wait another 6 months or so.”  Hmmm, let’s think about this.  How much might a $300,000 home increase in value over the next 6 months.

In a press release dated October 2, 2012, the California Association of Realtors predicts median home prices will rise about 5.7% in 2013 after an expected increase in 2012 of 10.9% (click here for the article).  So let’s say median price actually increases by 7% over the next 12 months.  You’re thinking that you might put your home on the market in 6 months, so let’s assume price goes up by 3.5% between now and then.  That means your $300,000 home will go up by about $10,500 and will be worth approximately $310,500 when you put it on the market.  However, if rates increased, as in the example above, you would have eliminated a substantial number of potential buyers for your home by waiting.

Just something to consider if you’re thinking about buying or selling Roseville, Lincoln or Rocklin homes.  See the chart below for historic rates over time.

History of Home Interest Rates

Steve’s Contact:
Phone: 916-276-7653

Hi everyone!

Just wanted to give you a heads up and save the date for the 2nd annual Rocklin Patriot Day. It’s happening on September 9th at the Blue Oaks Town Center.

There will be lots of great stuff to see and do, especially for the kids. A helicopter, fire truck, K9 Unit, Kids games, Petting zoo and more.

I put a link (above) for more info about the 2nd Annual Rocklin Patriot Day. Check it out if you like. Feel free to share this post on facebook or anyone who may be interested.

And don’t forget that I help people buy and sell Real Estate, so you need help with that, give me a call.

Thanks and hope to see you there!

Steve Quaranta