Expertise

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What are Prepaid Costs When Buying a Home?

Prepaid costs, or ‘prepaids,’ in real estate refer to expenses paid in advance at the time of closing, including homeowners insurance premiums, property taxes, mortgage interest, and escrow account funding. It’s essential to distinguish prepaids from the down payment, as the former covers specific upcoming expenses while the latter contributes to home equity. Understanding these costs helps budgeting accurately and can be a negotiation tool, particularly in areas with high property values like Northern California.

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What is RAL in Real Estate?

In the evolving landscape of real estate, specialized segments like Residential Assisted Living, play a crucial role. Residential Assisted Living is now commonly referred to as “senior housing” or simply “assisted living”. Most elders will face a decision of where to live in their later years. Almost all the options have pros and cons. Decisions will be made taking emotional, social, logistical, medical, and financial capacities into account.

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A disappearing pixelated-man attempts to approach home on desolate landscape with sun bearing down on him.

What is Scarcity in Real Estate?

Like any market, real estate is subject to the laws of supply and demand. But what role does scarcity play in this dynamic? In this article, we’ll explore how scarcity affects real estate prices and what it means for buyers and sellers.

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Woman pointing to the abbreviation "CTG" on purple background.

What Does CTG Mean in Real Estate?

CTG, or ‘contingent,’ in real estate signifies that a property has an accepted offer, but specific conditions or contingencies must be met, such as securing financing or selling an existing home, before the sale can proceed. During this time, the property is in a waiting state, and backup offers can be considered. Contingent offers provide flexibility and protection for both buyers and sellers until all contingencies are cleared.

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Woman looking at her laptop with hand on chin, pondering the overlay text: what's COE.

What is COE in Real Estate?

COE, or Close of Escrow, is a critical term in real estate, signifying the official transfer of property ownership from seller to buyer upon meeting all contract terms and completing financial transactions. It’s not the same as the sales agreement signing, and it doesn’t always mean immediate key handover due to local practices. Understanding COE is essential for planning moving dates, loan closure, and other life plans tied to this pivotal date in the real estate transaction process.

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Image of dog with text overlay - escrow & title.

Escrow and Title – What Are They?

Escrow and title are essential components of real estate transactions. Escrow involves a specialized bank account that securely holds transaction funds, while title refers to legal ownership of a property, ensuring it’s free from liens or disputes.

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Dog contemplating the meaning of Point of Sale Ordinances, sitting at an office desk in front of skyscrapers in background.

What is a Point of Sale (POS) ordinance? 

Point of Sale (POS) ordinances are city-mandated property repair regulations that ensure safety and environmental health during real estate transactions. While they serve essential purposes in protecting buyers and maintaining community standards, compliance can pose financial burdens and disproportionately impact lower-income property owners.

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Dog contemplating the meaning of "underwriting" at a computer screen.

What is “Underwriting” in Real Estate?

Underwriters in real estate play a pivotal role in assessing borrowers’ financial information and creditworthiness to determine their eligibility for mortgage loans, ensuring sound financial decisions and borrower’s ability to repay.

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