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Dick Keenan | The Keenan Carter Group, Keller Williams Realty CC Blog

Friday, June 21, 2024   /   by Dick Keenan

Your Equity Could Make a Move Possible

Many homeowners today feel trapped by the current high mortgage rates, making the idea of selling and moving less appealing. If you’re in this situation, it might seem like there’s no good solution. However, there’s a potential way to counteract these higher borrowing costs: leveraging the equity in your current home.

What Is Equity?

Equity is essentially the difference between your home's market value and what you owe on your mortgage. As you pay down your mortgage and as home values rise, your equity increases. Recent years have seen significant home price appreciation, so many homeowners have more equity than they might realize.

According to the latest data from the Census and ATTOM, over two-thirds of homeowners have either completely paid off their mortgages or have at least 50% equity in their homes.

How Your Equity Can Help You Move

Your home equity can be a powerful tool when selling your house, helping you navigate higher mortgage rates more ea. ...

  real estate, central coast, home buyer, selling a home, realtor, home purchase, california, buying, real estate agent, new home, time to sell your home, moving, selling, value, move up buyers, down payment, equity, afford more home, cash out equity

Friday, June 21, 2024   /   by Dick Keenan

Why a Vacation Home Is the Ultimate Summer Upgrade

With summer in full swing, it's the ideal time to plan your getaway and enjoy some relaxation. If you’re eager to soak up the sun and have some fun, you might want to consider whether owning a vacation home is the right choice for you.

Why People Buy Vacation Homes

A survey by Ameriprise Financial reveals several reasons why people choose to purchase a second home:

Vacation Destination or Stress Reliever (81%): Owning a vacation home provides a personal retreat where you can escape the daily grind and unwind. You also won’t need to worry about booking accommodations when you want to get away.

Better Weather (49%): If you live in an area with harsh weather, a vacation home in a sunny, warm location offers a great escape, letting you enjoy pleasant weather year-round.

Rental Income (41%): When you’re not using your vacation home, you can rent it out, providing a source of extra income.

Future Primary Residence (33%): You can enjoy. ...

  real estate, home purchase, buying, california living

Friday, June 21, 2024   /   by Dick Keenan

What You Need to Know About Today’s Down Payment Programs

Buying a home has become more challenging with today’s mortgage rates and rising home prices. This difficulty might have you exploring grants and assistance programs to see if you qualify for any help. However, many homebuyers are unsure where to begin.

A recent study by the Bank of America Institute revealed that 53% of prospective buyers feel they need more information about homebuying grant programs. Here’s some information to help bridge that knowledge gap.

What Is Down Payment Assistance?

Down payment assistance (DPA) programs offer loans and grants to cover part or all of a homebuyer’s down payment and closing costs. There are over 2,000 DPA programs nationwide, each varying by location. Many buyers could receive thousands of dollars in assistance if they qualify.

Additionally, you might not need to save as much for your down payment as you think. Contrary to popular belief, you typically don’t have to put down 20% unless specified by your loan. ...

  real estate, home buyer, home purchase, california, first time home buyer, for home buyers, down payment, stop renting

Friday, June 21, 2024   /   by Dick Keenan

Worried About Mortgage Rates? Control What You Can

You've likely been hearing a lot about mortgage rates lately, especially with recent discussions about the Federal Reserve’s (the Fed) meetings. However, it’s important to understand that the Fed doesn’t directly set mortgage rates, despite what some headlines suggest.

Mortgage rates are influenced by various factors, including geopolitical events, inflation, and the overall economy. Predicting when these elements will align to bring rates down is quite challenging.

Instead of trying to time the market, focus on what you can control to make your homebuying plans a reality. Here’s what you can do:

Your Credit Score

Your credit score significantly impacts your mortgage rate. As CNET notes:

“You can’t control the economic factors influencing interest rates. But you can get the best rate for your situation, and improving your credit score is the right place to start. Lenders look at your credit score to decide whether to approve you for a . ...

  home buyer, home purchase, home ownership, housing affordability, mortgage rates, mortgage, for home buyers, lending, mortgage avdvice

Wednesday, June 19, 2024   /   by Dick Keenan

Home Prices Aren't Falling, Despite What Headlines Suggest

If you’ve been following the news about home sellers cutting prices, it's a classic case of headlines being more alarming than informative. Here's the real scoop on home prices.

The main takeaway is that home prices are higher now than they were a year ago and are expected to keep climbing, though at a slower rate.

A recent article from Redfin states,

“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.” This might make you think prices are falling.

It's true that Realtor.com’s latest report shows 16.6% of homes on the market had price reductions in May, up from 12.7% last May, but this doesn’t mean overall home prices are declining.

The key is understanding the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

The asking price, or listing price, is what a seller hopes to get when they list their home. Sellers can’t just pick any price and expect top dollar. ...

  listing price, home value

The Keenan Carter Group
Richard Keenan And Narlene Carter Keenan
350 James Way, Ste 130
Pismo Beach, CA 93449
Keller Williams Realty Central Coast DRE# 02005015
The Keenan Carter Group DRE# 00860187
Each Office is Independently Owned and Operated.

Based on information from California Regional Multiple Listing Service, Inc. as of July 14, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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