For Sale: 411 6th St. It is a 9 year ‘young‘ home in “The City of History”, San Juan Bautista.
This 4 bedroom, 2 1/2 bath, 2,005 sq. ft. home is just a few blocks from all of the boutique shops and restaurants in San Juan’s village. Everything here; the Mission itself, the grocery store, the school – are all within walking distance.
Since this home is only 3 miles from Hwy. 101 you can be on the beach in 20 minutes, Gilroy’s Outlet Center and, CalTrain in 15 minutes, and in downtown San Jose in 45 minutes. Hollister is just 10 minutes away. It’s an easy commute from here to Monterey or San Jose.
Take a couple of minutes and watch this VIDEO Tour then, let me know what you think.
A veteran buyer was looking at looking at some nice homes in Hollister. There seemed to be a disconnect between their enthusiasm for the homes and making the comment to buy one of them. It wasn’t that they didn’t qualify. I had already pre-approved them for much more than they were looking at. As we talked the light bulb came on! The transition from their comfortable rent to a significantly higher payment was a quantum leap for them and it was hard to swallow – until…….
I sat them down and shared what many homeowners have learned over the years. Your accountant can tell you what your new tax liability will be if you buy that tempting home. In most cases the amount you will be required to pay in income tax will DROP because of the larger amount paid toward interest and taxes. Some of us have figured that it is better to reduce our income tax withholding from our paychecks each payday rather than get our refund in a lump sum (with no earned interest) at the end of the year.
Here is their example: Sales Price: $650,000; New VA Loan: $591,800; Total Principal, Interest, Taxes and Insurance: $4,210; Income Tax Deduction at a 26% tax bracket: $898/mth; Net “House Payment” after income tax deduction: $3,312.
Same home, same terms but a house payment that feels like $3,312. That made the difference. They will simply need to take a new W4 form to their employers and have them reduce their withholdings by $898 so they will have that much more to take-home each month. While they still make the actual payment of $4,210 the additional take-home pay makes the leap in house payment more palitable.
They will break even at the end of the year: they won’t owe much income tax nor will they get much of a refund. HOWEVER, they will have received their refund during the year to help offset their new, higher payment.
Everybody was happy and moved forward with what they really wanted to do.
I love solving problems for people! Have you done this yet?
A prospective client is moving into our area from out of state and asked a rhetorical question: “Does the lack of pictures on the web indicate poor quality of those homes?” Well, yes and no.
No – “REO” and especially the “Short Sale” listing agents are often too busy to take more than one picture (sometimes none at all). Occasionally, a solo picture of the front of the home is all the agent could squeeze in. So the home might be fine.
Yes – there just may not be anything photo-worthy. Since most of the homes on the market currently are Short Sale or REO listings and since many of these financially challenged homes are pretty worn finding a compelling shot may be difficult.
However, some listings will show 8 or 9 photos of the front and back yards and none of the interior…MESSAGE: there probably is nothing INSIDE worth displaying. Also, have you noticed how forgiving a camera can be? We often turn to one another asking: “Yuck, is this the same house”?
So, after doing a Google Street Scene your best bet is to do your research on the location, statistics on the home(s) etc. from the web then, go out and look at several homes in the same afternoon. Your agent will put together an efficient tour of prospective homes for you. Not only will you see what the condition of the homes ARE and, could become, you will also get a feel for the neighborhoods. “Seeing (in real time) is believing”.
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