Category Archives: Real_Estate

Housing Affordability Rises 18 Percent in First Quarter

Written by Patrick Warholic on May 24, 2008 — Leave a Comment

C.A.R. reports entry-level housing affordability rises 18 percentage points in first quarter

LOS ANGELES (May 20) – The percentage of households that could afford to buy an entry-level home in California stood at 44 percent in the first quarter of 2008, compared with 26 percent for the same period a year ago, according to a report released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

C.A.R.’s First-time Buyer Housing Affordability Index (FTB-HAI) measures the percentage of households that can afford to purchase an entry-level home in California. C.A.R. also reports first-time buyer indexes for regions and select counties within the state. The Index is the most fundamental measure of housing well-being for first-time buyers in the state.

Read the entire C.A.R. article and take a look at the Sacramento area results.

Folsom Homes and Short Sale Specialist

Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.

For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing and easy to use, no registration required advanced home search features that will simply astound you, free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.

Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.

Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.

Common Questions to Getting That Home Loan

Written by Patrick Warholic on October 4, 2007 — Leave a Comment

What steps can I take to improve my chances of getting a loan?

Today many lenders are more flexible and allow a greater percentage of monthly income to go toward mortgage payments. But they are more stringent on credit card balances. Lenders often count 5% of the balance as a borrower’s monthly payment, instead of the credit card’s minimum payment. If you are planning to pay off some debts before you apply for a loan, consider the ones with the largest monthly payment. Many lenders, for example, prefer to have a car loan paid off, because borrowers are not likely to go out and buy a new car right away. On the other hand, if credit cards are paid off, a borrower might start charging again.

Should I wait until interest rates drop?

Time is money. Can you afford to wait? Of course home buyers want to buy when interest rates are at their lowest. When interest rates are at near-record lows, potential buyers or homeowners looking to move up are asking themselves if the time is right to act. But no one can predict with certainty where rates are headed at any particular time. Waiting for a bottoming out may instead provide time for rates to rise.

What’s the debt-to-income ratio lenders use to qualify borrowers?

Many lenders use two ratios when they decide whether to approve a mortgage. If, for example, the ratios are 28/36, the “front” ratio of 28% means the lender will allow a mortgage payment (including principal, interest, taxes and insurance) of up to 28% of the borrower’s monthly pre-tax income. The “back” ratio of 36% means all loan and credit payments cannot exceed 36% of the borrower’s monthly income.

For more information visit the California Home Network, your:
Folsom Luxury Homes and Land Specialist

Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.

For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply astound you. You can even search by using the new Google Map search, and even do a home search for energy saving features. Are you looking for great real estate deals, short sales, or bank owned properties? With this powerful home search engine that information is right at your fingertips now.

California Home Network also provides free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.

Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.

Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.

Also posted in Buying, Homes, Informational, Tips

Avoiding Gapital Gains Tax on the Sale of Your Home

Written by Patrick Warholic on October 4, 2007 — Leave a Comment

Worried about taxes eating away too much of the profit on your home? Under a law enacted about ten years ago, a married couple filing jointly usually can exclude as much as $500,000 of their gain. For someone who is single or married and filing separately, the limit is $250,000.

To qualify for the full exclusion, you typically must have owned the home and lived in it as your primary residence for at least two of the five years prior to sale.

This exclusion applies only to your primary residence. Even someone who couldn’t pass those tests might qualify to exclude most or all of the gain under certain circumstances. The seller may be eligible for a reduced exclusion if that person had to sell because of a “change in place of employment”, health reasons or “unforeseen circumstances.” What are unforeseen circumstances? Examples cited by the Internal Revenue Service include divorce, death, or “multiple births resulting from the same pregnancy.”

Some think they’re required to buy a new home to qualify for this home-sale gain exclusion. That’s wrong. They’re probably thinking about a law that was repealed about a decade ago, under which you could defer tax on the gain on the sale of your home by rolling over the proceeds into a new home that cost as much as, or more than, the old one. Congress eliminated that law, in part because it was viewed as unfair to people who wanted to downsize and buy a less expensive home or to sell and move into a rental. Contact Patrick Warholic, your Folsom, El Dorado Hills, and Granite Bay Realtor for details.

Folsom Luxury Homes and Land Specialist

Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.

For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply astound you. You can even search by using the new Google Map search, with community search parameters, and even do a home search for energy saving features too. Are you looking for great real estate deals, short sales, or bank owned properties? With this powerful home search engine that information is right at your fingertips now.

Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.

Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.

Also posted in Homes, Informational, Properties, Taxes, Tips

Real-Estate Investors Should Beware of Scams

Written by Patrick Warholic on May 5, 2007 — Leave a Comment

Make a million dollars in real estate now! No money down! No-risk offer!

Maybe you’ve heard these come-ons, or similar ones, offering you the chance to learn how to become a real estate investing millionaire? One primary reason that real-estate investments attract newcomers is that debt is an accepted tool for doing business. Thus, you can get into the business with no money down. These high-volume, low-brow pitches are common from promoters of real estate investing seminars.

The first part usually is a goal-setting exercise.

The middle part gives some information about what could be done but not how to do it.

At the end, it all leads to having to take more expensive — $3,000 to $5,000 — seminars and boot camps to receive the actual hands-on experience you need, suggesting that if you didn’t take it, you would fail.

But not all real-estate investing seminars are a bad bet. Indeed, many will help you learn about the business of investing and can be a worthwhile place to start, experts say. How can you tell the good from the bad?

Savvy would-be investors should take their time developing their knowledge of the real estate industry and shouldn’t look to get rich overnight. The number of seminars offered to would-be real estate investors has exploded along with the booming real estate market. Public seminars may be fine for an introduction to investing, but clearly the business of real estate investing can’t be learned in just a few days. The skills it takes to be successful in real estate take years to accumulate, such as the skills of a Professional Realtor.

A hint from the Federal Trade Commission: 1. Take your time. 2. Don’t be rushed into buying anything at a seminar. 3. Avoid high-pressure sales pitches that require you to buy now or risk losing out on the opportunity.

Remember, solid opportunities are not sold through nerve-racking tactics.

Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land.

For more information from California Home Network visit Patrick Warholic, The Home Marketing Specialist, and for free, no registration required, MLS home and property searches with amazing home search results at your fingertips, along with its ease of use, no registration required advanced home search features that will simply amaze you. You can even perform a home search by using the new Google Map home search feature, with advanced community search parameters, and even do an advanced home search for energy saving features too. Maybe you are searching for a new home investment property or a great deal on a second home. Well, now you can find great real estate deals with REO bank owned properties and short sale homes listed in the MLS directory. This real estate information is right at your fingertips, and once again, no registration is required.

Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.

Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.

Also posted in Buying, Informational

Tips for House Hunting With Resale in Mind

Written by Patrick Warholic on March 5, 2007 — Leave a Comment

When looking for a home you probably have a checklist of characteristics that are important to you. However, if you know you are going to be a short-term homeowner here are some special considerations to keep in mind for good resale potential:

House Size – Don’t buy the largest model in the neighborhood. If most of the houses near yours are smaller than your house, they can act as a drag on appreciation. On the other hand, if you buy a small or medium house for the neighborhood, the larger homes can pull up your value.

Prime Neighborhoods – Buying what you need in a more prestigious neighborhood may provide more financial reward that getting what you want in a less desirable neighborhood.

Public Transportation – Even though you many not use them, consider accessibility to public transportation, as well as distance to a major airport.

The Commute – Check the morning and afternoon commute time by driving the major commute routes and to schools and shopping areas.

Schools – Log on to the local school districts website and check out how the schools in the area rank, even if you don’t have school-aged children.

Bedrooms and Bathrooms – three and four bedroom houses are the most popular among home buyers, so if you can stick in that range you will have more potential buyers when it comes time to resell. There should always be at least two bathrooms in a house, or at least the potential
to insert a second one.

Folsom Luxury Homes and Land Specialist

Our motto is to always “Do the Right Thing”, starting with providing premier executive real estate service to buyers and sellers of Folsom, Granite Bay, and El Dorado Hills luxury homes and land. Find the home of your dreams that is a great real estate investment too.

Learn how how you can be mortgage free in 8 to 11 years without re-financing. Ask for your free House Payment Free analysis.

Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.

Also posted in Buying, Homes, Informational, Properties, Selling, Tips

When Patrick Warholic commits to something, you can bet that he's going to focus all his energy and attention on getting it done—the right way. His career as one of the Folsom area's leading real estate agents is no exception to this approach. Patrick immerses himself in the needs of his clients and formulates a plan specifically designed to achieve the results they want and deserve. Whether his clients want to buy their dream home or sell their existing home quickly and profitably, Patrick combines his intimate familiarity with the area, extensive business background and goal-oriented mentality to ensure his clients get the highest possible return on their investment. If you're in the market to buy or sell a home, it makes sense to work with a professional who's in the business of Performance Not Promises. That's Patrick Warholic. Take it from someone who has worked with Patrick:

"Being in escrow, I find that I am very particular and appreciate folks that take extra time and effort to go the extra mile to be sure everything is done correctly. This is how Patrick does his business as well. He leaves nothing to chance, asks great questions, carefully reviews his buyer and seller settlement statements, attends his buyer and seller signing appointments, he is very responsive to all phone calls and follows up on all aspects of his transactions. In my opinion, he simply takes excellent care of his clients." —Cara Filipelli

Category Archives: Real_Estate

Housing Affordability Rises 18 Percent in First Quarter

Common Questions to Getting That Home Loan

Avoiding Gapital Gains Tax on the Sale of Your Home

Real-Estate Investors Should Beware of Scams

Tips for House Hunting With Resale in Mind

Best Buys in the Area

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