Your REALTOR®
Kathy Schlegel
August 2022
Real
For Updates on Marin County Sales go to my website at
www.KathySchlegel.com


Why FHA Loans Are So Popular
FHA loans are a popular choice for a lot of people, especially first time homebuyers. Why especially so for first time homebuyers? FHA loans require a low down payment, just 3.5% of the sales price. It's easier for first timers to come up with enough money for a down payment and for closing costs. Plus, sellers can help out with the closing costs as well, further adding to potential cash savings. Down payments can also come in the form of a gift from a family member or qualified non-profit. While conventional loans also allow for down payment assistance, they require a minimum amount from the buyers.
     
      FHA loans in general are easier to qualify for
MORTGAGE RATES
U.S. averages as of August 2022:


30 yr. fixed: 5.5%
15 yr. fixed: 4.75%
5/1 yr. adj: 4.31%






for as well. Debt to income ratios are relaxed, especially when compared to low down payment conventional programs. That means having the ability to comfortably afford a slightly higher loan
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3 Reasons This Isn’t Like 2008
     There’s a lot of talk about the real estate market right now and its potential decline. The economy is in the doldrums, interest rates are rapidly rising to keep up with inflation, and the red-hot housing market from just a few months ago is showing signs of weakening.
      Home sales are slowing, new mortgage applications are declining, and people across the country are being forced to cut prices in areas where there were major bidding wars not too long ago.
      Some worry that we’re on the cusp of another housing crash like 2008, but most analysts and experts say this isn’t like that.
      Of course, no one can tell the future, but we know there are substantial differences in the housing



7 Tips to Market Your Rental
     Having a real estate property that you will rent out is exciting. You’re an investor and building a future based on a tangible asset. Sometimes, being a landlord is tougher than it might initially seem, though.
      For example, your property has to be rented out to earn a return on your investment. That means you have to market it to find high-quality tenants.
     
      Marketing may not be your area of expertise, but there are certain things you can do to spread the word about your property and make it compelling for potential renters.
      The following are seven tips to keep in mind as you build a marketing strategy for your rental property.
      1. Know Your Audience Before you do anything else to market your property, you need to know your audience. Property owners should try and understand their targeted renters because

How Does An Escrow Account Work?
     If you’re in the process of getting a mortgage to buy a house, you will hear the term escrow quite a few times.
      An escrow is a legal arrangement. In this arrangement, a third party holds money or property until a certain condition is met. When we’re talking about a mortgage, this could be fulfilling your purchase agreement.
      Within real estate, in particular, escrow protects buyers and sellers in the transaction. With the mortgage, the escrow account also holds the funds for homeowner’s insurance and taxes.
      There are two types of escrow accounts in real estate, as mentioned—the first is to protect your good faith deposit. That means the money goes to the right party based on the conditions of your sale. The second is to hold funds that will cover the property taxes and homeowner’s insurance.
      Escrow Accounts for Buying a House When you buy a house, you’ll sign a purchase agreement. That purchase agreement usually includes earnest money, also known as a good faith deposit. This is meant to show you’re serious about buying the


  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Kathy Schlegel, Marin Realtor of the Year; Past President Marin Assoc. of REALTORS®
E-mail: kathy@kathyschlegel.com
Website: http://www.KathySchlegel.com
415-699-7406
Golden Gate Sotheby's International
415-699-7406
902 Irwin Street
San Rafael, CA 94901


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