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Home Buyers Guide to Success
Your choices are endless, and opportunity surrounds you. Home Buyers in California have an abundant supply of homes to search from while looking for a new home.
Unfortunately, California Real Estate markets are notoriously seller favored, as demand... |
Remote Buyer (relocation) Services
Remote Buyer Services
A special group of services for Buyers relocating to the Inland Empire.
We have enjoyed overwhelming response at MLSHomeQuest from buyers looking to
relocate from areas outside of the Inland Empire. This is a tough
relocation,... |
| For Our Investors |
New Program for Investors
I am in the process of developing new products and services
oriented toward Real Estate investors who purchase homes for their
personal investment portfolios. This is a challenging market
for this type... |
Selling Your Home
Services for Home Sellers
Effectively marketing a home in California requires some forethought and planning. We suggest familiarizing yourself with any of the articles or programs listed here that seem appropriate to your circumstance.
... |
Where to Start? What is Your Home Worth?
What is Your Home Worth?
The short answer is: Your home is worth what some else is willing to pay you for it, at a price which you willing to sell for. Every home has a Comparable Market Value that can be derived by comparing it to homes sold recently,... |
Special Programs for Sell/Buy Combinations
The process of selling a home, then finding and acquiring a new
home is both difficult and expensive. It requires special
sensitivity from agents with regard to timing, and cost management
strategies designed... |
News Archive
Select a section below to read the latest news for that topic.... |
Latest
Latest news items from the associated professionals at MLSHomeQuest.com.... |
MLSHomeQuest.com Domain for Sale
This Domain is available for purchase. Please contact Steve Graham at (951) 667-5818 to learn more. ... |
New Foreclosure Research Tool
We just got wind of this extremely easy to use tool that can be used to find properties that are in foreclosure anywhere in the country. Foreclosures, and the methodologies that surround their successful acquisition can be tricky - but very profitable... |
Finding MLS Search Engines
"Home for sale"
The days of looking through the classified section of our local newspapers for sections like that headline have finally passed. We now search for Real Estate online and MLS Search is the biggest buzz word to hit the industry's consumers in years... |
Are things really changing?
NPR reports on changes in the Real Estate Industry
According to NPR (National Public Radio), they are. We have heard similar reports from a recent 20-20 news report. With the recent infusion of technology in this industry, and the higher efficiencies... |
Market Report for the Inland Empire
As market trends begin their march into what is shaping up to be a
fairly normal year, we are keeping a keen eye on the corridor
running from Corona in the North and extending through Temecula in
the South. ... |
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Library
MLSHomeQuest is in the process of collecting articles that we consider to be educational in content for the benefit of our members.
Please check back often, as this process is still unfolding. We expect to have one of the best collections of articles... |
Buyer Tips
Buyer Section... |
Checklist for Your Final Walk-through (just before closing)
Closing is in a few days, and its time to take a final walk through your soon-to-be new home. Take a moment, perhaps print this list, and be sure to consider the following items as you complete this step in your home purchase:
Have all requested... |
What you need to know about Condo Associations
Condo associations, and their boards, are typically run by elected members of the homeowners association. Their character and attitude will vary widely from one association to another. Before you commit to purchasing a Condo, contact the condo board... |
How Comprehensive Is Your Home Warranty?
Check your home warranty policy to see which of the following items are
covered. Also check to see if the policy covers the full replacement cost of an
item.
Plumbing
Electrical Systems
Water Heater
Furnace... |
10 Things to Take the Trauma Out of Homebuying
Find a real estate professional who’s simpatico. Homebuying is not only a
big financial commitment, but also an emotional one. It’s critical that the
practitioner you choose is both skilled and a good fit with your personality.
... |
10 Tips for First-Time Homebuyers
Be picky, but don’t be unrealistic. There is no perfect home.
Do your homework before you start looking. Decide specifically what
features you want in a home and which are most important to you.
Get your finances in order... |
5 Common First-Time Homebuyer Mistakes
They don’t ask enough questions of their lender and miss out on the best
deal.
They don’t act quickly enough to make a decision and someone else buys the
house.
They don’t find the right real estate professional who... |
7 Reasons to Own Your Own Home
Earn Tax breaks. The IRS lets you deduct interest you pay on your
mortgage, property taxes, and some of the costs incurred buying
a home.
Financial Gain. National home prices increased at an average
of 5.4 percent annually... |
10 Steps to Prepare for Homeownership
10 Steps to Prepare for Homeownership
1. Decide how much home you can afford. Generally, you can afford a home
equal in value to between two and three times your gross income.
Develop a wish list of what you’d like your home to have... |
5 Reasons You Need a REALTOR
5 Reasons You Need a REALTOR©
A real estate transaction is complicated. In most cases, buying or selling
a home requires disclosure forms, inspection reports, mortgage documents,
insurance policies, deeds, and multi-page government-mandated... |
The Pros and Cons of Condos
The Pros and Cons of Condos
Condominiums and townhouses offer an affordable option to single-family homes
in most areas. But consider these facts before you buy.
Storage. Some condos have storage lockers, but usually there are no attics
... |
Tips on Buying in a Tight Market
Tips on Buying in a Tight Market
Increase your chances of getting your dream house instead of losing it to
another buyer, with these easy steps.
Get prequalified for a mortgage. You’ll be able to make a firm commitment
to buy and make your... |
Tips for Finding the Perfect Neighborhood
Tips for Finding the Perfect Neighborhood
The neighborhood you choose can have a big impact on your lifestyle—safety,
available amenities, and convenience all play their part.
Make a list of the activities—movies, health club, church—you engage... |
Your Property Wish List
Your Property Wish List
While your opinions on the type of home you want to own may
change during the homebuying process, use this easy checklist to help you
prioritize and make the shopping process less time consuming.
How... |
Budget Basics Work Sheet
Budget Basics Work Sheet
The first step in getting yourself in financial shape to buy a home is to
know what you make and what you spend now. List your income and expenses below.
Income
... |
Steps for Getting Your Finances in Order
Steps for Getting Your Finances in Order
Develop a family budget. Instead of budgeting what you’d like to spend, use
receipts to create a budget for what you actually spent over the last six
months. One advantage of this approach is that it... |
| Seller Tips |
What Is Appraised Value?
What Is Appraised Value?
It’s an objective opinion of value, but it’s not an exact science so
appraisals may differ.
For buying and selling purposes, appraisals are usually based on market
value—what the property could probably be sold for... |
20 Low-Cost Ways to Spruce Up Your Home
20 Low-Cost Ways to Spruce Up Your Home
Make your home more appealing for potential buyers with these quick and easy
tips.
Trim bushes so they don’t block windows and cut down on light.
Buy a new doormat.
Put a pot of bright flowers (or... |
6 Items to Have on Hand for the New Owners
6 Items to Have on Hand for the New Owners
Owner’s manuals for items left in the house.
Warranties for any items left in the house.
A list of local service providers—the best dry cleaner, yard service, etc.
Garage... |
Moving Tips for Sellers
Moving Tips for Sellers
Give your forwarding address to the post office, usually two to four weeks
ahead of the move.
Notify your credit card companies, magazine subscriptions, and bank of the
change of address.
Develop... |
What You’ll Net at Closing
What You’ll Net at Closing
To find out how much money you’ll net from your
house, add up your closing costs and subtract them from the sale price of the
house.
Closing Costs for Sellers
... |
7 Terms to Watch for in a Purchase Contract
7 Terms to Watch for in a Purchase Contract
The closing date. See if the date the buyer wants to take title is
reasonable for you.
Date of possession. See if the date the buyer wants to move in is
reasonable for you.
... |
10 Ways to Make Your Home Irresistible at an Open House
10 Ways to Make Your Home Irresistible at an Open House
Put fresh or silk flowers in principal rooms for a touch of color.
Add a new shower curtain, fresh towels, and new guest soaps to every bath.
Set out potpourri or fresh... |
7 Steps to Preparing for an Open House
7 Steps to Preparing for an Open House
Hire a cleaning service. A spotlessly clean home is essential; dirt will
turn off a prospect faster than anything.
Mow your lawn, and be sure toys and yard equipment are put away.
... |
5 Ways to Speed Up Your Sale
5 Ways to Speed Up Your Sale
Price it right. Set a price at the lower end of your property’s realistic
price range.
Get your house market-ready for at least two weeks before you begin
showing it.
Be flexible about showings... |
10 Ways to Make Your House More Salable
10 Ways to Make Your House More Salable
Get rid of clutter. Throw out or file stacks of newspapers and magazines.
Pack away most of your small decorative items. Store out-of-season clothing to
make closets seem roomier. Clean out the garage... |
Tips for Holding a Yard Sale
Tips for Holding a Yard Sale
Hold a yard sale to reduce the clutter in your home and get rid of items you
don’t want to move.
Check with your city government to see if you need a permit or license.
See if neighbors want to participate... |
5 Things to Do Before You Sell
5 Things to Do Before You Sell
Get estimates from a reliable repairperson on items that need to be
replaced soon, such as a roof or worn carpeting, for example. In this way,
buyers will have a better sense of how much these needed repairs... |
| Financing |
Why New Title Ins. for a Refinance?
Why Lenders Require Title Insurance When Refinancing Your Loan Lower interest rates have motivated you to refinance your home loan. The lower rate may save you a tremendous amount of money over the life of the loan, but you should also expect to... |
Why Lenders Refuse Loss of Priority
10 Good Reasons Why Lenders Should Say No To Losses of Priority 1. GOODWILL If you permit the borrower to start construction before your deed of trust is recorded you are relying on the borrower's ability to get the title company to accept an indemnity... |
Choices That Will Affect Your Loan
Choices That Will Affect Your Loan
Mortgage term. Mortgages are generally available at 15-, 20-, or 30-year
terms. The longer the term, the lower the monthly payment if the same amount
is borrowed. However, you pay more interest overall... |
6 Creative Ways to Afford a Home
6 Creative Ways to Afford a Home
If your income and savings are making homebuying a challenge, consider these
options.
Investigate local, state, and national downpayment assistance programs.
These programs give loans or grants to cover all... |
10 Things a Lender Needs From You
10 Things a Lender Needs From You
W-2 forms or business tax return forms if you’re self-employed for the
last two or three years for every person signing the loan.
Copies of one or more months of pay stubs from every person signing... |
10 Questions to Ask Your Lender
10 Questions to Ask Your Lender
Be sure you find a loan that fits your needs with these comprehensive
questions.
What are the most popular mortgage loans you offer?
Which type of mortgage plan do you think would be best for us? Why?... |
How Big a Mortgage Can I Afford?
How Big a Mortgage Can I Afford?
Not only does owning a home give you a haven for yourself and your family, it
makes great financial sense, too.
This calculation assumes a 28 percent income tax bracket. If your bracket is
higher, your savings will be, too... |
5 Factors That Decide Your Credit Score
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800. Scores above 620 are considered
desirable for obtaining a mortgage. These factors will affect your score.
Your payment history. Whether you paid credit... |
8 Ways to Improve Your Credit
8 Ways to Improve Your Credit
Credit scores, along with your overall income and debt, are a big factor in
determining if you’ll qualify for a loan and what loan terms you’ll be able to
qualify for.
Check for and correct errors in... |
| General |
Understanding the Language of Real Estate
UNDERSTANDING THE LANGUAGE OF REAL ESTATE To the unfamiliar, it can often confuse and bewilder. Fannie Mae and Freddie Mac. ARMS and APR. Clear title and Clouded title. Though these terms have special meaning to real estate professionals, they... |
Transaction Process Flowchart
Transaction Process Flowchart Buyer Initial Consultation; Financial Qualifications Commitment to Agent Market Education / Viewing Property Select a Home to Buy / Write the Offer Offer Presented to Seller Negotiation... |
| Home Inspections |
What Your Home Inspection Should Cover
What Your Home Inspection Should Cover
Siding: Look for dents or buckling
Foundations: Look for cracks or water seepage
Exterior Brick: Look for cracked bricks or mortar pulling away from bricks
Insulation: Look... |
Hidden Home Defects to Watch For
Hidden Home Defects to Watch For
No home is flawless, but certain physical problems can be expensive. Watch
for:
Water leaks. Look for stains on ceilings and near the baseboards,
especially in basements or attics.
Shifting foundations... |
10 Questions to Ask a Home Inspector
10 Questions to Ask a Home Inspector
What are your qualifications? Are you a member of the American Association
of Home Inspectors?
Do you have a current license? Inspectors are not required to be licensed
in every state.
... |
| Escrow |
What to Keep From Your Closing
What to Keep From Your Closing
The Real Estate Settlement Procedures Act (RESPA) statement. This form,
sometimes called a HUD 1 statement, itemizes all the costs associated with the
closing. You’ll need this for income tax purposes and when... |
Common Closing Costs for Buyers
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A
check to cover your closing costs will probably have to be a cashier’s check.
The title company or other entity conducting the closing will... |
Understanding Closing Costs
It's the big day. The day you go to the title or escrow company, sign your name on the dotted line, hand over a check and prepare to take ownership of your new home. It's also the day that you and the seller will pay "closing" or settlement... |
| Insurance |
5 Things to Understand About Homeowners Insurance
5 Things to Understand About Homeowners Insurance
Look for exclusions to coverage. For example, most insurance policies do
not cover flood or earthquake damage as a standard item. These coverages must
be bought separately.
Look... |
10 Ways to Lower Your Homeowners Insurance Costs
10 Ways to Lower Your Homeowners Insurance Costs
Raise your deductible. If you can afford to pay more toward a loss that
occurs, your premiums will be lower.
Buy your homeowners and auto policies from the same company. You’ll
... |
| Trusts |
Understanding Living Trusts
Understanding Living TrustsEstate planners often recommend "Living Trusts" as a viable option when contemplating the manner in which to hold title to real property. When a property is held in a Living Trust, title companies have particular... |
Understanding Title Ins. for Trusts
UNDERSTANDING TITLE INSURANCE REQUIREMENTS FOR INSURING TRUSTS In today’s world of busy probate courts and exorbitant death taxes, the living trust has become a common manner of holding title to real property. The following may help you understand a... |
| Taxes |
Understanding Capital Gains in Real Estate
Understanding Capital Gains in Real Estate
When you sell a stock, you owe taxes on your gain—the difference between what
you paid for the stock and what you sold it for. The same is true with selling a
home (or a second home), but there are some... |
Understanding Mello-Roos
UNDERSTANDING MELLO-ROOSIn purchasing your new home, your future monthly payments will be made up of principal, interest, real property taxes and insurance, but what is the tax for the Community Facilities District, otherwise known as a Mello -Roos District?... |
Understanding Required IRS Reporting
UNDERSTANDING REQUIRED REPORTING TO THE I.R.S. Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service. This required reporting of information is a consequence of the Tax Reform Act of 1986;... |
Withholding on Real Estate Sales
UNDERSTANDING WITHHOLDING ON REAL ESTATE SALES Question: When did withholding start for California residents? Answer: The withholding law applies to dispositions of California Real Estate by both residents and non-residents which close on and after January... |
| Title |
Understanding Common Ways of Holding Title
UNDERSTANDING COMMON WAYS OF HOLDING TITLE How Should I take ownership of the property I am buying? This important question is one California real property purchasers ask their real estate, escrow and title professionals every day. Unfortunately,... |
5 Things to Understand About Title Insurance
5 Things to Understand About Title Insurance
It protects your ownership right to your home both from fraudulent claims
against your ownership and from mistakes made in earlier sales, such as
mistake in the spelling of a person’s name or... |
Understanding Title Insurance
UNDERSTANDING TITLE INSURANCE What is title insurance? Newspapers refer to it in the weekly real estate sections and you hear about it in conversations with real estate brokers. If you've purchased a home you may be familiar with the benefits of title insurance... |
Understanding Condominium and PUD Ownership
UNDERSTANDING CONDOMINIUM and PUD OWNERSHIP California's builders, in an effort to combat the dual problem of an increasing population and a declining availability of prime land, are increasingly turning to common interest developments (CIDs) as a means... |
Understanding Preliminary Reports
UNDERSTANDING PRELIMINARY REPORTS After months of searching, you've finally found it -- your perfect dream home. But is it perfect? Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the... |
Understanding Statements of Information
Understanding Statements of InformationWhat's in a name? When a title company seeks to uncover matters affecting title to real property, the answer is, "Quite a bit." Statements of Information provide title companies with the information they... |
Understanding Public Subdivision Reports
Understanding Subdivision Public Reports Q. What is a Subdivision Public Report? A. The Subdivision Public Report is a disclosure statement for the public which permits the sale or lease of lots, parcels or units within a subdivision. Just as corporations... |
Understanding Probate
UNDERSTANDING PROBATE Everyone has a will or plan, whether created or by default. Even if you have not made out a will or a trust, you still have a plan – a plan dictated by the laws of the state where you reside upon your death. Making a will is not... |
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