Zero-Cost Effective Ways to Improve your Credit Score
If you've been considering buying a house for a while, you probably know that you need a good credit score for your mortgage to be approved without any issues. No matter how far ahead or soon your plan is to buy a home, these are some very efficient ways that will not cost you anything to improve your credit score. Increase your limits. Do you have debt you still can't pay off? You can ask your credit card company to increase your credit limit! Doing this will be increasing your debt-to-credit ratio. This number shows how much you have borrowed versus how much you can borrow. You just have to be very careful that you don't borrow more after increasing your credit limit or else you'll set yourself up for failure! Write a dispute letter to the bureau. In a study by Federal Trade Commission in 2013, it was found that 5% of credit reports have errors that could affect your score negatively. If you already a copy of your credit report, scour it thoroughly and check if there are any mistakes in the report. Once you find them, write a dispute letter to the bureau with the needed documents per FTC guidelines to back up your claim. Aside from writing a letter, make sure that you contact the organization that made the mistake, and request for an update with the correct data. This is not a quick process so make sure you do this ahead of time and provide all the necessary papers to strengthen your claim. Rest assured, once the error is removed, your credit score will be improved. Make a phone call. You wouldn't believe how a simple phone call can help you bump up your score! Look at your current bill payments and if you've had 1 or 2 late payments for any of your bills, call the company and ask for it to be removed from your records. Of course, if you've had the habit of paying your bills later than the due date, this would not work. Set up an alarm and calendar reminder for all your bills. Moving forward, you also have to maintain a good record of paying your bills. If you're not good with dates, set up an alarm or your calendar to remind you about your payments. This task would take you a minute or two but once you're set, you'll never be able to miss any fees again. Set up an auto-debit system for all your bills. If you want to take it up a notch, set up all your bills to be automatically deducted from your debit or credit card on or before their due dates. This way, you don't even have to think about it. This system will help you be smart in budgeting your money and it will be impossible to miss your due dates. Get accountability. People stick to a habit when they're held accountable. Get your closest friend to check up on you when it comes to saving up for your down payment and paying your bills on time. If you want to make it more fun, have a reward or punishment system with your accountability partner. You can agree on rules such as paying your accountability partner when you miss a bill payment or getting a reward after a month of successfully paying your bills on time. Summary Planning to buy a home does not only involve having funds but your regular payments must always be in check, for you to have a great record to show your lenders. If you think you're ready to buy a home, call a trusted realtor. If you want to work with us, call 925-415-0835 today! Source: https://www.realtor.com/advice/buy/how-to-boost-your-credit-score-first-time-home-buyer-advice/
San Ramon Real Estate
San Ramon is undoubtedly one of the best places in California. Many people admire this place bestowed with pleasant weather, including an abundance of trees and scenic views of Mount Diablo, restaurants, shopping areas, cafes, etc. Still, one must be very vigilant when it comes to buying a property here. So, let's consider why you should invest in San Ramon real estate and when and how to sell your San Ramon property. Why Invest in San Ramon Real Estate? Education When it comes to buying property anywhere, everyone looks for the educational facilities in that place because education is crucial to building a nation's economy and living a good quality of life. San Ramon has various public-school systems, top-ranked private schools, and San Ramon Valley Unified School District (SRVUSD). The SRVUSD high schools are ranked in the top 5% to 10% statewide due to multiple factors such as excellent performance in API, SAT, AP, etc., exams. Moreover, the schools and colleges have many other facilities, making the San Ramon educational system remarkable. Thus, the availability of top-notch schools makes this area a choice among Californian homebuyers. Even many families consider relocating here due to San Ramon's excellent schools. Job Market Growth One becomes conscious of job market growth when relocating. But you don’t have to stress over the prospects when shifting to San Ramon. The job market growth in San Ramon is impressive – expanding by 2.6% in 2017, while the job market growth over the following ten years is predicted to be 41.8%, above the 38% national overage. Here, the unemployment rate is also 3.3% which is lower than the US average of 5.2%. These statistics illustrate the growing employment market, which benefits the country's economy and San Ramon residents in the long term. Rent Growth The rental growth of San Ramon is steadily increasing due to the job market growth and population. During the first half of 2018, the average rent in San Ramon increased by 2.3%. Although several factors affect the rental rate, like location, size, and quality, the average rent for an apartment in San Ramon is $2,713, which is advantageous to real estate investors. Thus, investors who buy property in San Ramon have the opportunity to come across renters who are employed and able to make timely rent payments. Emerging Tech Hub Beneficial For Investors Numerous national and international firms, including ENGEO, GE Digital, SAP, Chevron, and AT&T, are headquartered in San Ramon, a center for innovation and entrepreneurship. This draws IT businesses, business owners, and employees to the Tri-Valley region. Due to its closeness to Silicon Valley, San Ramon attracts high-tech professionals searching for a more affordable place to live nearby. The upside is that San Ramon real estate investors stand to gain significantly from the influx of renters and eager buyers. Healthcare Access to first-rate healthcare undoubtedly matters to people and often marks central points in their lives. Thus, one looks for healthcare facilities when buying property anywhere. In this regard, San Ramon is undoubtedly a perfect living destination since it is committed to providing the best healthcare for Tri-valley residents and its surrounding communities. Transportation Facilities There is no doubt that the significance of transportation infrastructure has a significant influence on various aspects of our lives, such as work, social activities, education, etc. In addition, the quality of the available transportation options also impacts people's capacity to engage in social and economic activities. Therefore, one must have the greatest transportation options to ace in life. Therefore, Sam Ramon's transport is unquestionably the greatest. The convenience of traveling to San Francisco and other nearby cities is one of the primary factors influencing people's decision to reside in the charming city of San Ramon. An excellent way to get to Walnut Creek BART, Pleasanton, or Dublin is by bus or shuttle, both public transportation hubs. One can also board a train from the BART station for San Francisco, Richmond, or Fremont. So, if you move to San Ramon, you will have access to the greatest public transport options. Courteous Neighborhoods The saying "Man is a social animal" is undoubtedly true. No matter where you live or your age, you will always need people, whether things are good or bad. As a result, the individuals in our community have a significant impact on our lives. While Sam Ramon offers a range of housing options, from condos to single homes, there is always someone for everyone, no matter what stage of life they are in. Thus, San Ramon is desirable for house purchasers because of its friendly, courteous, and helpful neighbors. So, if you decide to buy a house in San Ramon, the best advice is to qualify in advance for money from lenders, and the Rama Mehra Team is a great company to seek as a local real estate agent and lender. However, you must exercise extreme caution if you want to sell your San Ramon house. Following are some ways of the best ways to sell your property. When To Sell Your Property It would be best to concentrate on the time you sell the house. Past statistics show that April is the best time to sell your home. Given that the usual house closing time is three months listing your San Ramon property in January will likely increase the likelihood that it will sell for 3.58% more than the yearly average. Even in 2019, June and July had a healthy amount of sales, close to April. The number of sold properties was 67 in June. However, this figure was extremely low in September 2019, with a high of 47. However, check the local real estate transaction statistics if you want a better idea of when to sell your house. They will undoubtedly help you decide when the ideal time is to do so. Approach San Ramon Realtors Secondly, another best way to sell your property is through a real estate agent. Speaking with San Ramon real estate agents will surely help you because they are active, knowledgeable, and experienced in this field. You can also ask your friends or relatives for recommendations of agents, but always be aware of what you are getting and providing to them. Conclusion Considering the discussion, buying a home in San Ramon is worthwhile since it provides all the essentials for living a quality life, gives amenities for a comfortable and pleasant lifestyle, and, most importantly, is the safest place to live. However, whether you are buying or selling a property, always contact a San Ramon real estate agent to acquire more precise information.
Rising Interest Rates and the Housing Marketing
As of October 2022, home prices in San Ramon rose by 5.1% compared to last year, bringing the median selling price to $1.5 million. This rise in pricing is coupled with fewer homes being sold in the San Ramon area compared to last year. On average, homes in San Ramon typically sell within 24 days of being in the housing market in 2022, which is 16 more days than the previous year. Although the numbers have decreased, the housing market in San Ramon is still highly competitive. Housing Market San Ramon, CA According to multiple reports, the housing market in San Ramon is very competitive, with many homes receiving multiple offers at a time. San Ramon is a very pleasant area, just 35 miles east of the Bay Area. Known for its scenic views and weather, it is one of the best places to live in California. The San Ramon area offers its residents a distinct suburban experience, especially because many own homes. This part of California is also known for being relatively quiet and peaceful. With easy access to the Half Moon Bay State Beach, it’s perfect for families who wish to convalesce in their free time. San Ramon also receives an influx of residents from metropolitan areas, offering the perfect balance between the suburban and the metro. Approximately 3% of homebuyers sought to move out of the metros to San Ramon. Easy access to coffee shops, parks, and top-tier restaurants make the residential experience in San Ramon worth the move. The area also hosts 19 public and 4 private schools with excellent ratings, including Windemere Ranch Middle School, Dougherty Valley High School, and Bollinger Canyon Elementary School. Therefore, it is unsurprising that San Ramon was named the best city for young families in California. How Interest Rates Impact the Housing Market Higher interest rates generally have a negative impact on the housing market because it forces buyers to pay significantly more to get a mortgage on a home for the same price. When interest rates are relatively higher, the housing market becomes highly competitive, with buyers being in a position to make offers above the asking price. The housing market is more or less driven by consumer demand, so interest rates are expected to be more affordable as housing prices increase. However, demand decreases when interest rates are higher, and the housing market becomes less competitive by default. However, it is essential to note that interest rates have only begun to rise in 2022 after being at historical lows from 2013 to 2021. The recent rise in interest rates on mortgages is nothing to fear. As rates of interest increase, wages and salaries grow correspondingly. These rates also do not affect the value of your property or housing prices, so you don’t have to worry about that. Rising Interest Rates in San Ramon, CA Data from October 2022 shows that typical home values in San Ramon are approximately $1.8 million, with a 1-year value increase of 8%. From these figures, it is easy to tell that the housing market in San Ramon is reasonably competitive. The current interest rates on mortgages in San Ramon, CA, are 6.64% for a 30-year fixed loan, 6.08% for a 15-year fixed loan, and 6.44% for a 5-year ARM (Adjustable Rate Mortgage). Several factors contribute to the increasing interest rates and rental rates in San Ramon. There has been considerable growth in the population and job market in San Ramon, causing housing demand to rise. San Ramon is also an excellent investment hub for real estate investors who can benefit from a sizable rental income on a return upwards of 0.57% from their tenants. The city is also a sensible choice to invest in a family home. San Ramon’s proximity to Silicon Valley has granted it the status of an emerging tech hub with a flourishing digital industry. Therefore, the area attracts many tech professionals, entrepreneurs, and businesses. The city also houses big companies like GE Digital, Chevron Corporation, AT&T, and the headquarters of Galena Biopharma, contributing to its job market growth. The job market is expected to rise to 41.8% within the next decade. This means more buyers and tenants for rentals will be moving into the city in large numbers, creating opportunities for real estate investors to receive a positive and steady cash flow. Many neighborhoods in San Ramon boast high safety rankings, excellent schools, first-rate healthcare, and low unemployment rates. These neighborhoods include Twin Creeks, Bollinger Hills, Twin Creek South, New Castle, and Rancho Ramon. The city has experienced a 0.16% growth in population over the last five years, home to over 75,000 residents. How to Buy or Sell a Home in San Ramon Without the proper knowledge and tools, navigating through the housing market can be a daunting task. If you do not have the skill set of an experienced real estate agent on your side, you could make a serious blunder. Buying or selling a home is not an endeavor to be taken lightly, especially if it is your first time. A professional can help you secure a deal, help you obtain waivers for contingencies, and win bidding wars for the home of your choice. To help you make the right decision for you, your family, and your investment, it would be advisable to seek professional guidance. For assistance in buying or selling a home in San Ramon, contact Rama Mehra to ensure your investment and future are secure.
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