Home Buyers Guide in Beautiful Lake Tahoe!

Our website is your Buyer's Guides and is here to help you find the best property you can in today's Lake Tahoe real estate market. There are many ins and outs to completing a real estate transaction, so it's important to stay patient, have an open mind and ultimately, be satisfied.

Buying should be an exciting experience, particularly on the lake! With the proven success of the Alvin's Team and Coldwell Banker on your side, you can be sure to find just the kind of property you seek.

Click Below:
 http://livinglaketahoe.com/featured_properties1

Investing

Buying property in Lake Tahoe is a proven wise investment. It's a world-reknowned, high-elevation mountain community that provides year-round recreation against breathtaking nature and scenery. Its limited real estate and environmental growth makes the market incredibly strong, as most property consistently holds its value.

Tahoe offers an impressive stock of valuable land and real estate from affordable existing and new-construction homes to the staggeringly luxurious. And with the neighboring Silicon Valley, San Francisco Bay Area and Reno economies, Tahoe offers a quick getaway for those seeking a paradise escape from the hustle and bustle of the busy city.

Upon close consideration, it's inherently clear that Lake Tahoe real estate brings an abundance of prosperity and enjoyment for those looking to invest.

Vacation Homes

Buying a vacation home is a sound investment, especially in Lake Tahoe. With one of the world's greatest natural lakes, Tahoe is a hotspot for winter sports and summer activities alike.

Alvin Steinberg and his Team have the network, experience, and knowledge it takes to help you get the most from your purchase.
There are many factors to weigh when buying. It's important to find a property with the most return and working with the right agent definitely makes or breaks the purchase.

We are here to help you purchase your home, rather it’s your dream vacation home, full time residents, or you’re a first time buyer.

Please contact Alvin's Team today!!!

Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

Tahoe seeing strong home price improvement

Even a slight spike in interest rates toward the end of summer hasn't slowed down the market around Lake Tahoe, according to real estate industry members in the area.
The volume of home sales rose 60 percent, and by 293 percent for homes selling for less than $1 million in the third quarter.

Passage of higher taxes on the wealthy in California last year has definitely spurred some buying in Nevada, but both sides of lake are seeing improved sales.

The other issue is the record low interest rates, even though they went up a bit, We are sensing an overall uptick in positivity about the economy. Especially in the first eight or nine months of the year, though it’s come down a bit lately.

Comparing the first three quarters of 2013 to the same period a year earlier, the percentage of homes selling for more than a million rose by 78 percent in Tahoe. Overall median home values have risen by a third so far this year, to $444,000.

Though most of the activity was in Incline Village, where the volume of home sales rose by 139 percent this year, all areas saw gains, including Truckee, where volume was up 41 percent, and Tahoe City, where the median price rose 18 percent, to $100 short of half a million.

There’s no reason to think Tahoe-area prices won’t continue to appreciate.
It all gets back to supply and demand. There’s some stabilization happening with prices.


Written by Staff Writer- Sacramento Business Journal

Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

Why Location Matters in Real Estate

Ask just about any real estate agent to list the three most important things a property should have, and you’ll likely hear: “location, location, location.” That phrase has been in use at least since 1926, according to The New York Times, and is just as relevant now as it was then.
But why does location matter so much? For starters, you can’t move a home — at least not easily or inexpensively. When you buy a home in a good location, it’s usually a solid long-term investment.
Real estate agents often advise their clients to buy the worst house — a property that could use some TLC — on the best block. Why? Because fixing up a home in a great neighborhood will give you the best return on your investment. Quite simply, it will be easier to sell later on. Conversely, you can buy a beautiful home that doesn’t need any work. But if the block is sketchy or just plain bad, you could have a hard time selling the property at a decent price.
So if “location, location, location” is so important, what makes a location good? Here are five characteristics to look for when buying a home. If you can get all five, chances are the home’s a great investment.

1. A safe neighborhood

People want to live where there’s little or no crime. Naturally, they want to feel safe in their homes and will pay extra for it. A safe neighborhood means people will feel free to walk around, be outdoors and interact with their neighbors. Communities still exist today where people don’t lock their doors, and they know their neighbors are there for them in a pinch.

2. Good schools

Being in a good school district is important, even if you don’t have school-age kids and never plan to have any. Fact is, young families always will be buying their first or second homes. They will do their home search based on location in general and good school districts in particular. The better the school district, the higher the values of the surrounding homes can be.
Found a home you love but the school district is subpar? Be aware of that issue for resale down the road. Bottom line: When you buy a home, you should always think like a future seller.

3. Convenient access to popular places, shops and restaurants

Everyone wants to be near the best commercial districts. The closer to the hubbub of a particular town or the best parts of a city, the better the location — and the more someone is willing to pay for a home. In beach communities, the closer to the beach, the more valuable the property.

4. Water access and views

No matter which town or city, someone will always pay for a great view or to be on or near the water. Put a home right on a waterway or on a hill with panoramic views and you’ve got a great location.

5. Access to public transit and/or freeways

In major cities, the farther you live from the bus, subway or other types of mass transit, the less valuable the home. A good location means being very close, and having easy access, to public transportation. Being near a train or bus can get you anywhere in a short amount of time. In some towns, where a commute by car is inevitable, easy access to the freeway makes for a good location. Adding 20 minutes to a commute just to get to the freeway never helps a location.

What makes a bad location?

There are some common characteristics that make a location “bad,” no matter where you are.
Ever see a home with a backyard that faces the freeway? Whether the home is in Denver, Dallas or Dubuque, such a location is likely always going to be considered undesirable. Is the home on a busy intersection or a four-lane road? Again, it’s probably considered a bad location, no matter which town it’s in or what the nearby neighborhood is like.
Other factors that can make for a “bad” location: very close proximity to a fire station (good if your house is on fire, not so good if you’re trying to sleep); a hospital (frequent ambulance sirens); an airport (sounds of jet engines 18 hours per day) or a school (traffic from buses or parents dropping off children or kids yelling and playing).
Some “good” and “bad” qualities simply vary by community. If you know your local community, you know which parts of town are less or more desirable. It’s always smart to rent in a new community before committing to a home purchase. Renting allows you time to become familiar with the location.
All these things matter when you’re considering the location of a home for sale. But never lose sight of what matters most to you about the location. If you’re crazy about baseball, for instance, you might love owning a condo near your city’s professional baseball team ballpark. Someone who doesn’t like baseball, on the other hand, would probably not want to live near all the commotion.
Location, location, location really does matter — a lot. But as always, the most important thing is to buy the right home for you, at the right time


Written by Brendon DeSimone

Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

Buyers: Window of Opportunity Still Open

The Fed recently announced they would continue their current pace of purchasing bonds until the economy was stronger. This bond purchasing program is the reason that mortgage interest rates are at historic lows. Rates began to increase over the last several months just on the anticipation that the Fed would announce that they would be reducing the level of bond purchases last month. When that didn’t happen, rates actually decreased (4.50 to 4.37).

That was great news for any buyer in the process of purchasing a home. However, this window of opportunity is expected to close in the very near future as most experts expect the Fed to taper the bond purchasers in December. Even Ben Bernanke, Chairman of the Fed, suggested that the Fed could still scale back the stimulus this year. He stated:

"If the data confirms our basic outlook, then we could move later this year.”

Where will mortgage rates head in 2014?

The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors have each projected that the 30 year fixed rate mortgage will have interest rates in excess of 5% by this time next year. The average of their four projections is 5.3%. The table below shows the impact this will have on the monthly principal and interest payment on a $250,000 mortgage:





A buyer should take advantage of the current window of opportunity before it is too late.


Written by  The KCM Crew


Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

Why Do We Buy Real Estate?

Why do you own your home? Why do you want to buy a home? According to Fannie Mae the top five reasons people buy a home or aspire to buy a home are: To have a better place to raise their children; A place where their family can feel safe; To have more space; Freedom to renovate to their own taste; and Owning is a better investment. Does this hold true for you? How about for a friend or family member you are close to? I know that all five reasons were a factor in my personal decision to own a home rather than rent. While I do think that sometimes for some people it is better to rent than own (or possibly it is the only option), the vast majority of the time there is no question it is better to own than rent.
The reasons we buy a home have stayed constant throughout the recovery of our real estate market and are strengthening all the while.

Freedom
People have to live somewhere and at least in the United States, people want to own where they live. It has a lot to do with freedom. We are a free nation with citizens who strive for financial freedom, enjoy their religious freedom, freedom to say what we want, etc. Something about owning your home gives you freedom.
Every day I work with people who are buying a home and they all have their own unique set of circumstances. Some are newly married and are ready to start their life together. Some need more space. Some have the means to buy a home in a special location to enjoy the beauty of the oceans or mountains. Either way the drive to own is strong.

Recovery
Let’s face it; we have been through tough economic times in the past several years. Many of us have been caught in the midst of short sales, foreclosures and even bankruptcies. The first question I’m asked by someone who has been through a tough time is “how long do I have to wait before I can buy another house?”

The American Dream
In 1931 the phrase “The American Dream” was defined by James Truslow Adams, historian and author, in his book Epic of America- “…life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement”. Homeownership is a very strong part of the American Dream.
We have all read books, seen movies and heard stories about immigrants who have come to America in pursuit of a better life in a society that allowed them to better themselves based on their own ability and achievement. Most of these people were coming to America from a society that was without opportunity because the class structure did not allow for significant achievement…you pretty much stayed in the class in which you were born.
In America that is not the case, every day we have the freedom to make better choices, work smarter, work harder, take risks, etc. all in pursuit getting to a better place than we came from.

Financial Strength
Owning a home is one of the best ways to better yourself as judged in financial AND non- financial terms. For example, according to the Federal Reserve (2012), on average, Homeowners have a total net worth over thirty times greater than those who rent their home. For most of us the equity in our home is the biggest asset on our balance sheet.

Other Factors
Some of the non-financial related ways we are better off owning a home versus renting include having more room for our growing family by way of buying a bigger house or adding on to our current house… if you rent, your landlord is not likely to allow you to knock down walls and add on to your apartment.
Another way we are better is by having the ability to choose where we want to live. Location is the single most important variable that affects the value of real estate, there is good reason for this…if the location is unsafe, polluted, noisy, high-traffic, prone to flooding, etc. then it less valuable than a location which is safe, quiet, convenient, dry, etc.
Achieving the American Dream is a noble pursuit. I would argue that owning your own home is one of the very best ways to live that Dream. It isn’t the only way but it is so important psychologically and financially that it helped make the USA the wonderfully free and prosperous nation it is and will be.
Why do you own your home? Why do you want to buy a home? Go out and achieve the American Dream!

Written by Ashley Garner


Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

How Much Home Should You Buy?

To buy the home that's right for you and your household, you may already have a dream home in mind. Then comes "what if we had a…..?" Reality sets in - you've got McMansion tastes on a starter home budget.

That's when it's time to face the question - how much home do you really need?
Nearly every buyer compromises on something. Maybe you get a fixer upper instead of a new home. Or, you buy a smaller home in a more expensive neighborhood. Or, you get a larger home in a suburb and compromise on the commute.
Here's a better way to set your shopping parameters. Ask yourself these questions:

• How long will you likely live in the home?
• How large is your household? Is it likely to grow?
• Where do you want to live - near work, near family, in a certain school district?

You should have a fairly good idea of the number of bedrooms, baths and living areas you want as well as other features you want your home to have. But the trick with buying a home is getting as much as you can on your wish list without becoming "house poor."

House poor means you can afford your house payments but you can't afford to do much else. That's why you should begin your search for a home with learning what you can comfortably afford.

Lenders have a conforming loan standard that they use as a benchmark for prequalifying you as a borrower. To qualify you, lenders use two ratios - income to mortgage debt, and income to total debt.

To qualify for a 30-year fixed rate conforming loan that is federally insured, your income to mortgage debt can be no higher than 29% of your gross annual income, and your debts plus mortgage payment can be no higher than 41% of your gross monthly income, according to FHA.com. (see: http://www.fha.com/debt_to_income_ratios.cfm. )

That means that if you make $3000 gross income per month, under a conforming loan standard, your house payment (principal, interest, insurance and taxes) should be no larger than $870.00.

If you're carrying credit card debt, student loans, or pay child support, the monthly debt service must be accounted for. To get the income- to-debt ratio, multiply your monthly income by 41%. If you make $3000, your total debt including your house payment can be no larger than $1,230.00. That means to qualify for a $870.00 house payment, your debt service can be no higher than $360 per month.

This formula is time-tested, and it's designed to help you minimize the risk of home buying by making sure you can afford your payments over time.
Once you know how much home you can afford, you'll find it much easier to decide how much home you really need, keeping in mind whether you'll need more space for the future. Having a price in mind will quickly sort out which neighborhoods are affordable, which homes are most suitable and most likely to serve your needs.


Written by Blanche Evans

Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

3 Reasons to Buy that House NOW!

Here are three great reasons to consider buying a home today instead of waiting.

1.) Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released last week projects appreciation in home values over the next five years to be between 12.3% (most pessimistic) and 32.8% (most optimistic).
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes any sense.

2.) Mortgage Interest Rates Are Increasing

As reported by Freddie Mac, interest rates for 30-year fixed-rate mortgages have risen about one full percentage point over recent historic lows.
The National Association of Realtors, the Mortgage Bankers Association, Freddie Mac and Fannie Mae, in their July forecasts, have all projected 30-year-fixed mortgage interest rates to be between 4.8 and 5.1% by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3.) It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.


Written by The KCM Crew


Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com

What to Consider When Buying a Second Home

Sooner or later you may reach a point in your life where you are financially stable and plan to purchase a second home. For the most part, people who look to buy a second home are either looking at it as an investment or somewhere to vacation. It is important to become familiar with the process when looking for and making the decision to purchase a second home.

Purchasing a second home is similar to the purchase of your first home, but there are also some important differences that you may not be aware of. Two of the most important things to consider when buying a second home are to know what you’re looking for and how much you can spend before beginning the process.
When considering buying a second home, timing is a big aspect of the purchasing decision. If you are in the middle of your career or ready to retire, you need to ask yourself what is the point of buying a second home. Many homeowners will ask themselves “Do I want to use this home as a personal retreat or as a rental property?” Another question often asked is “Can I afford this?” You may have to wait 6 months or a year, but having a good understanding of the current market and knowing when you are planning on making the purchase, will get you what you want.

Get Help
One step that will benefit you when looking for a home, is hiring an agent. Most people find their agents through friends, family members or colleagues. The agent’s job and expertise is in helping guide you down the correct path and being there to answer whatever questions you may have.

Do Your Research
Your second home can be whatever you want it to be, but one thing to keep in mind is that the location and property need to be a good fit with your current lifestyle. A good idea for buying an investment property is to make sure that it is somewhat near your current home, in order to be close to it in case of an emergency. When considering a vacation home, especially one that is far away, it is a good idea to talk to the locals who live there to get their prospective on the area. This is important because you will not be at the house year round; and you need to see yourself enjoying living there.
Whether you have planned to purchase a second home for years, or have finally started considering it, it is extremely important to make sure all of your finances are in order. It is a good idea to know exactly what is needed financially to get your plan into motion. When applying for a second mortgage, there will be stricter lending and mortgage requirements, especially if you will not be living in that home.

Be Prepared
Another aspect to take into consideration is your taxes, which will be based on the use of your second home. The IRS has declared “if you live in your home for more than 14 days, or more than 10% of the time you rent it out in a year, then it is considered your personal residence”. If these conditions are not met, your home will be considered a rental property and you must report all rental receipts as income.
When the time comes to finally figuring out how to purchase your home, weighing your options are important. It’s good to know that buying an existing home is far cheaper than buying land and building. Many people with second homes have made financial mistakes with their home and are looking to sell quickly to cut their losses and move on. This fact could help a buyer if the house is similar to what they are looking for, as it can be had for a cheaper price.
A mortgage on a second home will have a higher interest rate than one on a first home. It might be a good idea to consider a home equity line of credit (HELOC). A HELOC allows the buyer to tap into their existing home’s equity so that you can provide a bigger down payment.

Protect Yourself
If the time ever comes where you decide you would like a second home, make sure that you do your research. Being aware of what you are getting into is always smart before diving in. There are various differences between the ownership of a primary home compared to a secondary home and knowing these differences will help out immensely. However you decide to use it, those who pursue the ownership of a second home will have to take extra precautions in protecting their investment.


Written by  Mark Scheets


Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com