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Dana Point HOME BUYING PITFALLS TO AVOID


Sellers usually rely on sales of Dana Point homes of comparable value to determine a fair and realistic price to set for their home but many sellers feel their home is worth much more and price their home accordingly. Buyers must also be tuned into sales for comparable homes in Dana Point in order to judge the price of any home that is under consideration.

Being “House Poor” gets to be “Old New” real fast. A large and beautiful home with little or no furniture tends to be empty and cold. A life where almost every dime of income goes to the support of the Dana Point house wears thin very quickly and is a frequent cause of family stress. Pushing yourself right up to your limit leaves you highly exposed when the inevitable changes to the national or your personal economy occurs.

Dana Point Disclosure Rule


Tell All is definitely the rule for anyone who is selling Dana Point real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your pocketbook.

Today, those selling a home or any Dana Point are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyer’s decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Dana Point seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.

Buying Dana Point Below Market


On most real estate Websites you can enter the parameters you want for your Dana Point. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, you’d better be prepared to act quickly because you aren’t the only one who’s looking for a bargain.

Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Dana Point is priced well enough that it truly is a bargain and not a fixer-upper nightmare.


Buying Dana Point Real Estate...Will it Pay?


With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build equity in your Dana Point faster by choosing a 15-year loan instead of a 30-year loan.

As a Dana Point real estate owner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in home equity, you gain $3,600.00. Investing in Dana Point can be a very good idea.


Dana Point APPEAL


A large part of the appeal of the real estate market in any area is the architecture or the style of the homes themselves. The appeal of Dana Point is its appropriateness to the region in terms of style, history and weather conditions.

Dana Point DOWNTURNS


Real estate markets are affected by the economy as a whole and in turn, can affect the general economy. Of course, a buyer’s dream is to buy Dana Point when prices are low and sell when prices are high. However, real estate is not exactly like other forms of investment and most people become comfortable and attached to their homes and are not interested in selling just because the market is right.