Weekly Market report: March 19

Sold Last Week in Tehachapi, CA: March 13th-  March 19th

This is House Market Information for Tehachapi, California. See what sold in your neighborhood last week.

Address Area BD BA Sq Ft Acers DOM/CDOM List/Sell $
25440 Deertrail Dr Bear Valley Springs 2 2 1038 1.07 164/164 $169,000
25581 Jacaranda Dr Bear Valley Springs 3 2 1304 1.01 172/172 $174,900
20909 Ridgeway Dr Golden Hills West 3 2 1352 0.46 70/70 $182,500
22004 Mariposa Rd Golden Hills West 3 2 1764 0.29 49/49 $249,500
30060 CADDY Ln Bear Valley Springs 4 2 2328 0.41 5-May $280,000
19516 Moon Dr Golden Hills East 2 2 1688 0.56 59/59 $305,000
21201 Sierra Vista Dr County 3 3 2558 0.93 79/294 $349,900
21760 Mid Way Golden Hills East 4 2 2362 0.41 8-Aug $349,900
24220 Willow Pass Dr Bear Valley Springs 4 3 2186 1.13 30/30 $399,000
29740 Pinedale Dr Bear Valley Springs 3 3 2894 0.4046 139/139 $399,900
24600 Tiara Ct Bear Valley Springs 3 2 3095 21 283/283 $499,000
29801 S Lower Valley Rd Bear Valley Springs 3 3 2480 23.37 60/60 $519,000
22760 Cummings Valley Rd Cummings Valley 3 3 2838 19.63 195/195 $599,500
20725 Sasia Rd Cummings Valley 3 2 1654 19.45 123/486 $649,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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7 Reasons to Own A Home

7 Reasons to Own A Home

  1. Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
  2. Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®.  The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
  3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
  4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
  5. Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
  6. Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
  7. Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

Tehachapi Weekly Real Estate Update: March 12, 2017

Sold Last Week in Tehachapi, CA: March 6-March 12th

This is House Market Information for Tehachapi, California. See what sold in your neighborhood last week.

Address Area Price Per Sq Ft CDOM Sell $
28061 Deertrail Dr Bear Valley Springs 79.95 98 $118,000
22160 Buena Vista St Golden Hills East 81.44 103 $165,000
22317 Milky Way Way Golden Hills East 105.26 680 $180,000
20031 Bald Mountain Dr Golden Hills East 138.63 329 $225,000
22028 McCarthy Dr Golden Hills West 161.72 81 $245,000
26131 Deertrail Dr Bear Valley Springs 132.21 131 $247,900
20401 Tucker Rd County 180.56 733 $260,000
29280 Horsethief Dr Stallion Springs 152.31 32 $290,000
18581 Kern Ct Stallion Springs 153.21 109 $334,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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Checklist: For a Better Home Showing

Checklist: For a Better Home Showing

Remove clutter. Clear off counters and pack unnecessary decorative items. Put extra furniture in storage, and remove out-of-season items. Don’t forget to clean out the garage, too.

Let it shine. Cleaning windows and screens will help bring more light into your home. Replace burnt bulbs, and consider higher wattage in low-light areas. Clean the walls or brush on a fresh coat of bright, neutral paint. Replace heavy curtains with sheer ones and show off your view.

Keep it clean. A deep clean before listing your home will make upkeep easier. Consider hiring a cleaning service to help.

Maximize comfort. In summer, shut A/C vents on the first floor so more air will get upstairs. Reverse the process in winter.

Perform a sniff test. Clean carpeting and drapes to eliminate odors. Open the windows to air out the house. Consider potpourri or scented candles and diffusers. For quick fixes in the kitchen, cotton balls soaked in vanilla extract or orange juice can instantly make the fridge a nicer-smelling place. Boil lemon juice in your microwave, then add it to your dishwasher to eliminate odors. You can also run lemon rinds through the garbage disposal for a similar effect.

Take care of minor repairs. Sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well-maintained.

Tidy up outdoors. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. A pot of bright flowers near the entryway adds great curb appeal.

Set the scene. A bright afghan or new accent pillows easily jazz up a dull room. Pretty dishes or a simple centerpiece on the tables can help buyers picture themselves living there. Try staging a chess game in progress. If you have a fireplace, lay fresh logs or a basket of flowers there.

Make the bath luxurious. Make sure your personal toiletry items are out of sight, along with old towels and toothbrushes. Add a new shower curtain and fancy guest soaps.

Send the pets to the neighbors. If that’s not possible, crate or confine them to one room, and let the real estate practitioner know where they’ll be to eliminate surprises.

Lock up valuables and medication. Agents can’t watch everyone all the time.

Head out. It can be awkward for everyone if you’re home at the time of a showing.

Weekly Real Estate Update: March 5, 2017

Sold Last Week in Tehachapi, CA: February 27- March 5

This is House Market Information for Tehachapi, California. See what sold in your neighborhood last week.

Address Area Beds Baths Sqr feet Acres DOM Price
21408 Mountain Dr Golden Hills West 3 2 1203 0.6 13 $127,500
27740 Hialeah Dr Stallion Springs 3 2 1943 0.347 6 $230,000
22901 Tulip St Golden Hills East 3 2 1504 0.51 0 $233,350
814 Mulberry St Tehachapi City 3 2 1850 0.19 6 $250,000
21004 Ridgeway Dr Golden Hills West 3 2 1633 0.52 39 $252,000
905 Cathy Ln Tehachapi City 3 2 1520 0.19 12 $253,000
26701 Skyline Dr Bear Valley Springs 5 4 3899 3.15 33 $468,500
24401 Silver Creek Way Bear Valley Springs 4 4 3251 1.7 311 $515,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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How to Prepare to Finance a Home

How to Prepare to Finance a Home

Don’t get discouraged.

Home finance can be complicated. The first and most important step is to not allow yourself to be discouraged. There are programs and solutions for nearly every situation. Do not be afraid to seek the advice of qualified real estate professionals, mortgage brokers and credit councilors to help you achieve your goals. With good advice and hard work home ownership is attainable!

Develop a budget.

Instead of telling yourself what you’d like to spend, use receipts to create a budget that reflects your actual habits over the last several months. This approach will better factor in unexpected expenses alongside more predictable costs such as utility bills and groceries. You’ll probably spot some ways to save, whether it’s cutting out that morning trip to Starbucks or eating dinner at home more often.

Reduce debt.

Lenders generally look for a debt load of no more than 36 percent of income. This figure includes your mortgage, which typically ranges between 25 and 28 percent of your net household income. So you need to get monthly payments on the rest of your installment debt—car loans, student loans, and revolving balances on credit cards — down to between 8 and 10 percent of your net monthly income.

Increase your income.

Now’s the time to ask for a raise! If that’s not an option, you may want to consider taking on a second job to get your income at a level high enough to qualify for the home you want.

Save for a down payment.

Designate a certain amount of money each month to put away in your savings account. Although it’s possible to get a mortgage with 5 percent down or less, you can usually get a better rate if you put down a larger percentage of the total purchase. Aim for a 20 percent down payment.

Keep your job.

While you don’t need to be in the same job forever to qualify for a home loan, having a job for less than two years may mean you have to pay a higher interest rate.

Establish a good credit history.

Get a credit card and make payments by the due date. Do the same for all your other bills, too. Pay off entire balances as promptly as possible.

Start saving.

Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs, which can average between 2 and 7 percent of the home price.

Obtain a copy of your credit report.

Make sure it is accurate and correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

Decide what kind of mortgage you can afford.

Generally, you want to look for homes valued between two and three times your gross income, but a financing professional can help determine the size of loan for which you’ll qualify. Find out what kind of mortgage (30-year or 15-year? Fixed or adjustable rate?) is best for you. Also, gather the documentation a lender will need to preapprove you for a loan, such as W-2s, pay stub copies, account numbers, and copies of two to four months of bank or credit union statements. Don’t forget property taxes, insurance, maintenance, utilities, and association fees, if applicable.

Seek down payment help.

Check with your state and local government to find out whether you qualify for special mortgage or down payment assistance programs. If you have an IRA account, you can use the money you’ve saved to buy your first home without paying a penalty for early withdrawal.

 

Weekly Real Estate Update- Feb 26, 2017

Sold Last Week in Tehachapi, CA: February 21- February 26

This is House Market Information for Tehachapi, California. See what sold in your neighborhood last week.

Address Area BD BA Sq Ft Lot Sz DOM List/Sell $
19538 Cherry Ln County 4 2 1923 4.5 39 $194,000
24401 Fire Ct Bear Valley Springs 2 2 1668 1.1 0 $235,000
806 Mulberry St Tehachapi City 3 2 1850 0.17 245 $249,000
1062 Hickory Ave Tehachapi City 3 2 1758 0.23 58 $250,000
914 Carolyn Ln Tehachapi City 3 2 1599 0.23 113 $255,000
24260 Bowen Ct Bear Valley Springs 3 2 1567 1.27 5 $265,900
19604 Brite Valley Golden Hills East 4 3 2102 0.28 172 $287,000
28711 Gleneagle Ct Stallion Springs 3 2 1849 0.465 86 $290,000
23651 Senica Way Bear Valley Springs 3 2 1756 2.28 64 $310,000
22350 Milky Way Golden Hills East 3 3 2160 0.55 4 $350,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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What to Know About Your Home Inspection

Tehachapi Home Buyers: What to Know About Your Home Inspection

Some items should always be examined during a Tehachapi home inspection.

Structure

The home’s “skeleton” should be able to stand up to weather, gravity, and the earth that surrounds it. Structural components include items such as the foundation and the framing.

Exterior

The inspector should look at sidewalks, driveways, steps, windows, doors, siding, trim, and surface drainage. They should also examine any attached porches, decks, and balconies.

Roofing

A good inspector will provide very important information about your roof, including its age, roof draining systems, buckled shingles, and loose gutters and downspouts. They should also inform you of the condition of any skylights and chimneys as well as the potential for pooling water.

Plumbing

They should thoroughly examine the water supply and drainage systems, water heating equipment, and fuel storage systems. Pressure pumps and sump pumps also fall under this category but are less common in our area. Poor water pressure, banging pipes, rust spots, or corrosion can indicate larger problems. The inspector should be able to tell you the water heater’s age, its energy rating, and whether the size is adequate for the house.

Electrical

You should be informed of the condition of service entrance wires, service panels, breakers and fuses, and disconnects. Also take note of the number of outlets in each room.

Heating and air conditioning

The home’s vents, flues, and chimneys should be inspected. They should also describe and inspect all the central air and through-wall cooling equipment. The inspector should be able to tell you the if the heating and cooling systems in the house are efficient.

Interiors

Your inspector should take a close look at walls, ceilings and floors; steps, stairways, and railings; countertops and cabinets; and garage systems. These areas can reveal leaks, insect damage, rot, construction defects, and more.

Ventilation/insulation

Inspectors should check for adequate insulation and ventilation in the attic and in unfinished areas such as crawl spaces. Insulation should be appropriate for the climate. Here in Tehachpi we get freezing weather that cause problems like pipes freezing and breaking if not properly insulated. Without proper ventilation, excess moisture can lead to mold and water damage.

Fireplaces

They’re charming, but fireplaces can be dangerous if they’re not properly installed and maintained. Inspectors should examine the vent and flue, and describe solid fuel-burning appliances.


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Weekly Real Estate Update- Feb 19, 2017

 

Sold Last Week in Tehachapi, CA: Feb 12- feb 20

Address Area Bed Bath Sq Ft Lot Sz DOM Sell
21276 White Pine Dr #76 Golden Hills West 3 2 1468 0.13 172 $205,000
23921 Basin Harbor Ct Bear Valley Springs 3 2 2141 0.37 110 $279,000
26780 Columbia Way Bear Valley Springs 3 2 2095 1.41 198 $345,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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Preparing to Buy Real Estate in Tehachapi

Preparing to
Buy your Tehachapi Home

Choose an agent you know you can trust.

Finding a trusted partner is absolutely a vital step to purchasing a home. Choosing a real estate professional to help you with each step of the process can help relieve  stress and worry. An Associated Real Estate agent will take the time to understand your goals and will be ready and able to guide you through the home buying process.

Talk to mortgage brokers.

Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely. You may discover that improving your credit could help you to afford your dream home in Tehachapi. Talking to a professional to prepare you for the finance process will also help you know what you can afford to offer when you do find that perfect home.

Be ready to move.

This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.

Make a good offer.

Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.

Factor maintenance and repair costs into your buying budget.

Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.

Think ahead.

It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. The average first-time buyer expects to stay in a home for around 10 years, according to the National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers.

Develop your home/neighborhood wish list.

Prioritize these items from most important to least.

Select where you want to live.

Compile a list of three or four neighborhoods you’d like to live in, taking into account nearby schools, recreational facilities, area expansion plans, and safety. Get to know each area of Tehachapi and what it has to offer you. You may like the connivance of being in town or want more outdoor space and prefer Golden Hills. If amenities or Equestrian facilities is what you are looking for you might choose Bear Valley. You should also ask about Home Owners association fees and CC&R’s for each area to be sure it will fit your lifestyle and budget.