Sara Alim Homes

08/19/2023

Open house this Sunday 10am-12pm.
1135 Alice Dr. Santa Clara, CA 95050

Come see it in person!

09/10/2022

07/22/2022

Here is your monthly Market Snap for June ‘22!

07/10/2022

Gentle reminder that today’s interest rates are, yes, inching upwards, but they're still historically low! Just take a look at the data from Freddie Mac. You'll see the same trend I did — that rates are getting lower every decade. ⁣
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Average 30-year rate by decade: ⁣
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1981: 16.63%⁣
1991: 9.25%⁣
2001: 6.97%⁣
2011: 4.45%⁣
2021: 2.96%⁣
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In early June 2022, the average rate for a 30-year mortgage was 5.42%. Sure, higher than we'd like, but not so bad when you look back 50 years. ⁣
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06/29/2022

𝐅𝐢𝐱𝐞𝐫-𝐮𝐩𝐩𝐞𝐫𝐬 𝐚𝐫𝐞 𝐍𝐎𝐓 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐟𝐚𝐢𝐧𝐭 𝐨𝐟 𝐡𝐞𝐚𝐫𝐭!⁣
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Before pouring your hard-earned cash into a fixer-upper, ask yourself:⁣⁣
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⭐️ Do you have the patience of a saint? Labor shortages and supply chain issues are causing even minor home repairs to drag on and on. Patience, flexibility, and time to wait best be your best friends.⁣⁣
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⭐️ Do you have the time and capacity? Taking on a fixer-upper is incredibly exciting, but it can also be all-consuming. ⁣
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⭐️ Is the price right? All that fixing is gonna take cash. Talk with your realtor and a trusted lender to set right expectations about what you can afford.⁣⁣
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⭐️ Where will you live during renovations? With a move-in ready, you just, well, move in. A fixer-upper, not so much. To make it work, you’ll need a place to crash or fork out for a rental.⁣⁣
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#السودان

06/23/2022

My client: "Should we price it high to see what happens?"⁣⁣
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My answer: I can already tell you what's going to happen...⁣⁣
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You’ve got 3 options when it comes to pricing your home for the market: above, at, or under market value.⁣⁣
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I know pricing it high can be tempting, but keep in mind these pros and cons for each option:⁣⁣
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Above market value:⁣⁣
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+ If you have to receive a certain amount for the home⁣⁣
- It will take longer to sell⁣⁣
- The more days it's on the market, the worse it looks to prospects⁣⁣
- The home may not appraise by the buyer's lender, back to negotiations⁣⁣
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At market value:⁣⁣
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+ No appraisal issues⁣⁣
+ Buyers and agents will recognize a fair price⁣⁣
+ Will appear on more relevant buyer searches⁣⁣
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Under market value:⁣⁣
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+ The home will receive high interest and a quick sale⁣⁣
+ You may get a multiple offer scenario, which may include offers higher than asking price⁣⁣
- Risk of having to sell at a lower price than market value⁣⁣
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If you'd like to see recent stats on homes like yours, just say the word. Pretty sure you'll come to the same conclusion as I did — pricing just under market is the way to go!⁣
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06/03/2022

Often times when my clients have already gotten a pre-approval letter and are under contract on a house, they'll ask me if it's okay to shop around for different mortgage quotes. My answer? Absolutely!⁣⁣
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Even a small change in interest rates can make a big difference over time, so I highly recommend shopping around. ⁣⁣
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Their next question is typically this: "Will this impact my credit score?"⁣⁣
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According to FICO, you have a 30-day window to shop around for a mortgage - this will all count as one hard inquiry.⁣⁣
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Thinking of buying? Save this post for later!⁣
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05/31/2022

𝐖𝐢𝐥𝐥 𝐭𝐡𝐞 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐫𝐚𝐬𝐡?⁣⁣
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If you’re waiting for a market crash to snag a cheaper home, you might be waiting for a while. Housing experts predict the market will remain strong for a while for several reasons:⁣⁣⁣
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1. Ample homebuyers. With most first-time buyers under 40 and the U.S. population nearing 170 million, there’s no shortage of buyers, which leads to the second reason experts predict a robust housing market well into the future.⁣⁣⁣
2. Low inventory. Too many buyers. Too few homes. It’s simple supply and demand — and experts say it will take at least several years to inject enough new supply to balance out the market.⁣⁣⁣
3. Healthier mortgages. Unlike the 2008 housing crash, tougher lending standards and modern mortgage regulations mean today’s homeowners are less likely to default than those who were approved in the pre-crisis lending period.⁣⁣⁣
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05/06/2022

Don’t turn down this INVITE.⁣
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If you’re searching for your next home, join us for an open house on Sunday May 8th 1-4pm.⁣
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You’ll be amazed at our featured home of the day.⁣
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We can’t wait to chat with you to learn about everything you want in your next home.⁣
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05/06/2022

Buying a home is a numbers game, but it’s also an emotional game. That’s why from the get-go, I encourage buyers to only consider homes they can confidently afford. ⁣⁣⁣
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Setting aside what lenders say, buyers should take the time to “try on” various mortgage payments and find the one that fits the best and feels the most comfortable.⁣⁣⁣
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That said, some guidelines can provide a starting point for answering the question: How much home can I afford?⁣⁣⁣
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Most financial experts say housing expenses should be no more than 28% of your total pre-tax income. This includes your monthly P&I mortgage payment, homeowners insurance, property taxes, and PMI payments (if applicable).⁣⁣⁣
For example, if your salary is $70,000 per year, your gross monthly income is $5,833 ($70,000 divided by 12). Your total housing costs (principal, interest, taxes, and insurance) shouldn’t exceed $1,633 per month (28% of $5,833).⁣⁣⁣
Keep in mind that total debt should be under 36% of your total pre-tax income. This includes housing costs mentioned above and credit cards, car loans, personal loans, and student loans.⁣⁣⁣
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Save this post for later, or share it with anyone you know who has plans to buy this year. And, of course, reach out if I can answer any questions that come up along the way! ⁣⁣
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