Most advice columns tell you what you should do, but just as importantly, there some things you shouldn’t do. Here are 10 frequent home finance mistakes that consumers make – and that you should avoid.

1. Don’t choose the wrong mortgage: With the advent of instant refinancing, home loans are no longer the lifetime obligations they used to be. Still, you don’t want to be saddled for even a short period of time with the wrong mortgage.
   Investigate all your options, then lay your choices side-by-side and do the math, making sure to compare worst-case scenarios. Be sure to look at initial interest rates, future interest rates and payments (if different), and the possibility of prepayment penalties.
2. Don’t confuse “preapproved” and prequalified” with a loan commitment: These are debatable terms in real estate because not all lenders define them the same way. In fact, one leading real estate dictionary contains neither expression because their definitions are uncertain.
   According to one school of thought, when you are prequalified, the lender is making an educated guess about how much you can borrow based on information you’ve provided. When you are preapproved, the lender has verified everything you have told him or her and is offering to lend you up to a given amount at current interest rates – under certain conditions.
   Whether prequalified or preapproved, final clearance and a check at closing – a loan commitment – are subject to an appraisal satisfactory to the lender, good title, a last-minute credit check and other verifications. When meeting with lenders, always ask how they define each term and what additional steps will be required to actually obtain a loan.
3. Don’t have too much credit: Excessive credit is almost as bad as no credit or even bad credit. Even if you pay your bills on time, lenders tend to focus just as much on how much credit you have available to you as they do on timeliness. So being up to your ears in car loans and credit cards is a sure way to be turned down for a mortgage. Postpone any major purchases until after you buy your house.
4. Don’t lie on your loan application: Exaggerating your income on a mortgage application or putting down other untruths can be a federal offense. Lenders rarely prosecute liars, but if they find out later, they can call your loan due and payable.
   And don’t ever sign your name to a loan application that is not completely filled out, either. Loan officers have been known to stretch the truth to get a client approved, but it’s the borrower who ends up paying the price, often in the form of unaffordable monthly loan payments.
5. Don’t hide if you can’t make your payments: The worst thing you can do is ignore phone calls and letters from your lender when you are behind on your payments. Lenders have many options at their disposal to help keep borrowers from losing their homes to foreclosure. But they can’t do anything for you unless they can talk to you about your difficulties. Lenders are the enemy only if you give them no other choice.
6. Don’t skip a home inspection: Failing to make your purchase contingent on a satisfactory home inspection could be a costly mistake. Independent home inspectors examine houses from stem to stern. They’ll be able to tell you whether the roof and/or basement leaks, whether the mechanical systems are in good shape and how long the appliances should last. They can’t report on things they can’t see, but at least their trained eyes are better than yours. So don’t pass just to save a few hundred dollars – it’s money very well spent.
7. Don’t hire just any agent to sell your house: All real estate agents are not the same. You want to work with an agent who specializes in your neighborhood and who is a top producer. Ask your candidates how they plan to market your house, what you can do to make the place more attractive to prospects and what you should set as a selling price. If you don’t like any of the answers, look elsewhere. And above all, stay away from relatives; unless Aunt Amy or Nephew Nick fit the description above, keep looking.
8. Don’t fail to check out a contractor’s credentials: Never, ever hire a contractor who knocks on your door or says his prices are good for only a few days. Reputable contractors don’t solicit door-to-door, and they don’t cut prices just because they happen to be in your neighborhood. Check out potential contractors thoroughly by calling several of their past clients, their bankers and suppliers, your local better business bureau and your local consumer affairs agency.
9. Don’t pay a contractor too much upfront: If a contractor asks for more than a third of the contract price as a down payment, chances are something’s wrong. At worst, he’s a scam artist who has no intention of returning after he cashes your check. At best, he’s undercapitalized and can’t afford to purchase materials on his own. Or, in between, he could be using your money to pay workers on another job. Also, never give a contractor cash.
10. Don’t burn your mortgage: It’s a wonderful feeling when you make your last house payment. After all, the place is now yours, all yours. Many people celebrate by holding a mortgage burning party. But they torch the original document. Don’t. Make a copy and burn that instead. Keep all your loan documents in a safe place

If you need any advice on financing your new home please drop me an email or give me a call.

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

You can search the Santa Cruz, CA MLS for all our Santa Cruz homes for sale, with easy to use maps, real estate searches and lifestyle features. Search our Santa Cruz homes for sale and read articles and information on buying and selling in Santa Cruz County. We have community information and real estate searches for all properties for sale through out Santa Cruz County.

With a year-round Mediterranean climate, Santa Cruz homes offers our property buyers the ultimate in luxury beachside homes. The Santa Cruz lifestyle includes world-class surfing, challenging and beautiful golf courses, a historic beach boardwalk, lots of local shopping, art galleries, world class wines and restaurants to visit.

Santa Cruz Homes for Sale:

Showing properties 1 - 10 of 64. See more city of Santa Cruz real estate.
(all data current as of 5/19/2012)

1. $499,000 : 1524 17th Av #B, Santa Cruz
   
   3 beds, 2 full baths

   Home size: 1,185 sq ft

   Lot size: 6,534 sqft
   
2. $499,000 : 114 Annie Ln #15, Santa Cruz
   
   2 beds, 2 full baths

   Home size: 1,159 sq ft

   Lot size: 1,306 sqft
   
3. $489,000 : 118 Grandview St, Santa Cruz
   
   3 beds, 2 full baths

   Home size: 1,117 sq ft

   Lot size: 3,920 sqft
   
4. $485,000 : 331 Morrissey Bl, Santa Cruz
   
   3 beds, 1 full bath

   Lot size: 7,840 sqft
   
5. $479,000 : 510 Mission St, Santa Cruz
   
   2 beds, 1 full bath

   Home size: 1,404 sq ft

   Lot size: 4,791 sqft
   
6. $475,000 : 1004 Bay St, Santa Cruz
   
   2 beds, 1 full, 1 part baths

   Lot size: 5,662 sqft
   
7. $449,000 : 314 Oregon St, Santa Cruz
   
   2 beds, 1 full bath

   Home size: 1,004 sq ft

   Lot size: 3,920 sqft
   
8. $449,000 : 208 Bay St #J, Santa Cruz
   
   2 beds, 2 full baths

   Home size: 1,103 sq ft

   Lot size: 435 sqft
   
9. $431,582 : 124 Reed Wy, Santa Cruz
   
   2 beds, 1 full bath

   Home size: 1,024 sq ft

   Lot size: 5,132 sqft
   
10. $429,900 : 1762 Esperanza Ct, Santa Cruz
    
    2 beds, 2 full, 1 part baths

    Home size: 1,579 sq ft

    Lot size: 871 sqft
    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Santa Cruz CA Real Estate

Santa Cruz has an average population of 55,000, that is to say people who call “Santa Cruz, California home.”

The majority of properties in Santa Cruz are single family homes or condominiums, both of which hold their real estate value. Santa Cruz CA real estate market held its value much better than other cities in the state.

Today’s median price for Santa Cruz homes is approximately $749,000, but whatever your budget, Santa Cruz County can accommodate you. All you need is a Real Estate Agent, like me, who knows their clients needs and wants to find the perfecting housing match.

Santa Cruz Homes Online - Contact Susan Bolster-Grant (831) 247-9140

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Begin your Local Lifestyle Search

Santa Cruz ( /ˈsæntə ˈkruːz/, Spanish: Holy Cross) is the county seat and largest city of Santa Cruz County, California in the US. As of the 2010 U.S. Census, Santa Cruz had a total population of 59,946. It is located on the northern edge of the Monterey Bay, about 72 mi (115 km) south of San Francisco.

The present-day site of Santa Cruz was the location of an American Indian settlement since ancient times. It was also one of the earliest settlements of the Spanish during the exploration of Alta California in the later part of the 18th century, including a California Mission, Mission Santa Cruz. During the late 19th century, after California became part of the United States, Santa Cruz became widely popular for its idyllic beaches and coastal redwood forests, establishing itself as a resort community.

Santa Cruz is now known for its moderate climate, natural beauty, educational institutions, alternative community lifestyles, and socially liberal leanings. It is also home to University of California, Santa Cruz, a premier research institution and educational hub, as well as the Santa Cruz Beach Boardwalk, an oceanfront amusement park.

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Santa Cruz is the county seat and largest city of Santa Cruz County, California in the US. As of the 2010 U.S. Census, Santa Cruz had a total population of 59,946. It is located on the northern edge of the Monterey Bay, about 72 mi (115 km) south of San Francisco.

The present-day site of Santa Cruz was the location of an American Indian settlement since ancient times. It was also one of the earliest settlements of the Spanish during the exploration of Alta California in the later part of the 18th century, including a California Mission, Mission Santa Cruz. During the late 19th century, after California became part of the United States, Santa Cruz became widely popular for its idyllic beaches and coastal redwood forests, establishing itself as a resort community.

Santa Cruz is now known for its moderate climate, natural beauty, educational institutions, alternative community lifestyles, and socially liberal leanings. It is also home to University of California, Santa Cruz, a premier research institution and educational hub, as well as the Santa Cruz Beach Boardwalk, an oceanfront amusement park.

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Monterey Bay Coast Communities

Use this map of Monterey Bay to discover the various Monterey Bay coast communities in Santa Cruz County.

Santa Cruz Homes Online - Contact Susan Bolster-Grant (831) 247-9140

Zoom in or out to view more or less Monterey Bay homes and details:

View Coast Bay Today’s Monterey Bay Homes in a larger map

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Oceanview Homes for Sale

Rio Del Mar, CA offers some the world’s finest oceanview homes for sale in California.

Santa Cruz Homes Online - Contact Susan Bolster-Grant (831) 247-9140

We're sorry, but we couldn't find MLS # 81011449 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Here are the latest homes for sale in the Rio Del Mar and Seascape Communities.  You can view 25 homes at a time or change your search parameters.

Call Susan to set up your private showing of any of these properties.   Susan’s Direct Line 831-247-9140

Showing properties 1 - 50 of 90. See more Rio Del Mar/Seascape community real estate.
(all data current as of 5/19/2012)

1. $3,400,000 : 641 Beach Dr, Rio Del Mar / Seascape
   
   3 beds, 2 full, 1 part baths

   Home size: 2,520 sq ft

   Lot size: 6,534 sqft

   Year built: 2001

   Walk Score®: 25
   
2. $3,300,000 : 550 Bayview Dr, Rio Del Mar / Seascape
   
   5 beds, 6 full baths

   Home size: 5,757 sq ft

   Lot size: 13,503 sqft

   Year built: 1999

   Walk Score®: 22
   
3. $3,295,000 : 927 Via Gaviota, Rio Del Mar / Seascape
   
   5 beds, 2 full, 2 part baths

   Home size: 2,550 sq ft

   Lot size: 6,098 sqft

   Year built: 1973

   Walk Score®: 35
   
4. $3,250,000 : 643 Beach Dr, Rio Del Mar / Seascape
   
   3 beds, 3 full, 1 part baths

   Home size: 2,550 sq ft

   Lot size: 5,000 sqft

   Year built: 2007

   Walk Score®: 25
   
5. $2,950,000 : 858 Via Palo Alto, Rio Del Mar / Seascape
   
   4 beds, 5 full baths

   Home size: 4,000 sq ft

   Lot size: 9,147 sqft

   Year built: 2002

   Walk Score®: 31
   
6. $2,500,000 : 625 Beach Dr, Rio Del Mar / Seascape
   
   4 beds, 3 full baths

   Home size: 2,568 sq ft

   Lot size: 14,810 sqft

   Year built: 1967

   Walk Score®: 23
   
7. $2,495,000 : 110 Verona Ct, Rio Del Mar / Seascape
   
   4 beds, 3 full, 2 part baths

   Home size: 3,953 sq ft

   Lot size: 9,278 sqft

   Year built: 2007

   Walk Score®: 37
   
8. $2,195,000 : 411 Beach Dr, Rio Del Mar / Seascape
   
   3 beds, 3 full baths

   Lot size: 5,662 sqft

   Year built: 1942

   Walk Score®: 26
   
9. $1,849,000 : 540 Beach Dr, Rio Del Mar / Seascape
   
   5 beds, 3 full, 1 part baths

   Home size: 1,952 sq ft

   Lot size: 7,405 sqft

   Year built: 1980

   Walk Score®: 28
   
10. $1,849,000 : 200 Zanzibar Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 3,045 sq ft

    Lot size: 7,405 sqft

    Year built: 2009

    Walk Score®: 40
    
11. $1,669,000 : 214 Beach Dr, Rio Del Mar / Seascape
    
    3 beds, 3 full baths

    Home size: 1,638 sq ft

    Lot size: 871 sqft

    Year built: 1942

    Walk Score®: 58
    
12. $1,399,000 : 1400 Bonita Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 3,624 sq ft

    Lot size: 36,154 sqft

    Year built: 2008

    Walk Score®: 20
    
13. $1,395,000 : 315 Kingsbury Dr, Rio Del Mar / Seascape
    
    3 beds, 3 full, 1 part baths

    Home size: 3,459 sq ft

    Lot size: 7,405 sqft

    Year built: 2012

    Walk Score®: 48
    
14. $1,395,000 : 1208 Via Tornasol, Rio Del Mar / Seascape
    
    2 beds, 2 full, 1 part baths

    Home size: 2,274 sq ft

    Lot size: 871 sqft

    Year built: 1984

    Walk Score®: 68
    
15. $1,300,000 : 431 Vista Del Mar Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 2,958 sq ft

    Lot size: 15,377 sqft

    Year built: 2002

    Walk Score®: 55
    
16. $1,299,000 : 352 Kingsbury Dr, Rio Del Mar / Seascape
    
    3 beds, 1 full, 1 part baths

    Home size: 1,450 sq ft

    Lot size: 14,240 sqft

    Year built: 1937

    Walk Score®: 29
    
17. $1,299,000 : 157 Via Lantana, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 3,132 sq ft

    Lot size: 6,098 sqft

    Year built: 1984

    Walk Score®: 58
    
18. $1,250,000 : 129 Zanzibar Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 3,361 sq ft

    Lot size: 10,890 sqft

    Year built: 2003

    Walk Score®: 29
    
19. $1,195,000 : 312 Uplands Dr, Rio Del Mar / Seascape
    
    4 beds, 2 full, 1 part baths

    Home size: 2,700 sq ft

    Lot size: 10,018 sqft

    Year built: 2005

    Walk Score®: 40
    
20. $1,195,000 : 213 Claudius Dr, Rio Del Mar / Seascape
    
    4 beds, 2 full, 1 part baths

    Home size: 2,271 sq ft

    Lot size: 5,000 sqft

    Year built: 1995

    Walk Score®: 63
    
21. $1,179,000 : 504 Cliff Dr, Rio Del Mar / Seascape
    
    2 beds, 3 full baths

    Home size: 2,023 sq ft

    Lot size: 5,662 sqft

    Year built: 1971

    Walk Score®: 29
    
22. $1,149,000 : 421 Locke Dr, Rio Del Mar / Seascape
    
    4 beds, 2 full, 1 part baths

    Home size: 2,250 sq ft

    Lot size: 4,356 sqft

    Year built: 2011

    Walk Score®: 29
    
23. $1,148,000 : 141 Zanzibar Dr, Rio Del Mar / Seascape
    
    3 beds, 2 full, 1 part baths

    Home size: 3,000 sq ft

    Lot size: 10,454 sqft

    Year built: 2005

    Walk Score®: 23
    
24. $999,000 : 608 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full, 1 part baths

    Home size: 1,448 sq ft

    Lot size: 435 sqft

    Year built: 1997
    
25. $998,000 : 735 Clubhouse Dr, Rio Del Mar / Seascape
    
    5 beds, 4 full baths

    Home size: 3,500 sq ft

    Lot size: 11,761 sqft

    Year built: 1977

    Walk Score®: 31
    
26. $997,000 : 725 Clubhouse Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full baths

    Home size: 3,500 sq ft

    Lot size: 19,602 sqft

    Year built: 1959

    Walk Score®: 42
    
27. $995,000 : 413 Seaview Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full baths

    Home size: 2,490 sq ft

    Lot size: 6,969 sqft

    Year built: 1959

    Walk Score®: 29
    
28. $989,000 : 587 Saint Andrews Dr, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 3,288 sq ft

    Lot size: 12,196 sqft

    Year built: 1974

    Walk Score®: 31
    
29. $985,000 : 471 Baltusrol Dr, Rio Del Mar / Seascape
    
    3 beds, 2 full, 2 part baths

    Home size: 2,560 sq ft

    Lot size: 14,374 sqft

    Year built: 1966

    Walk Score®: 40
    
30. $975,000 : 42 Pebble Beach Dr, Rio Del Mar / Seascape
    
    3 beds, 2 full, 2 part baths

    Home size: 3,155 sq ft

    Lot size: 10,454 sqft

    Year built: 1978

    Walk Score®: 57
    
31. $949,000 : 75 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 1,054 sq ft

    Lot size: 174 sqft

    Year built: 1994
    
32. $945,000 : 428 Vista Del Mar Dr, Rio Del Mar / Seascape
    
    3 beds, 2 full, 1 part baths

    Lot size: 3,484 sqft

    Year built: 1949

    Walk Score®: 62
    
33. $929,000 : 262 Via Campana, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 1,815 sq ft

    Lot size: 7,840 sqft

    Year built: 1974

    Walk Score®: 31
    
34. $899,000 : 42 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full, 1 part baths

    Home size: 1,298 sq ft

    Lot size: 435 sqft

    Year built: 1995

    Walk Score®: 65
    
35. $895,000 : 424 Semple Av, Rio Del Mar / Seascape
    
    4 beds, 3 full, 1 part baths

    Home size: 3,396 sq ft

    Lot size: 8,712 sqft

    Year built: 1966

    Walk Score®: 48
    
36. $849,000 : 1483 Dolphin Dr, Rio Del Mar / Seascape
    
    4 beds, 2 full, 1 part baths

    Home size: 2,660 sq ft

    Lot size: 10,454 sqft

    Year built: 1978

    Walk Score®: 66
    
37. $829,000 : 333 Loyola Dr, Rio Del Mar / Seascape
    
    3 beds, 3 full, 1 part baths

    Home size: 2,483 sq ft

    Lot size: 7,187 sqft

    Year built: 1993

    Walk Score®: 49
    
38. $799,950 : 240 Rio Del Mar Bl #E, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 972 sq ft

    Lot size: 972 sqft

    Year built: 1970

    Walk Score®: 60
    
39. $799,900 : 505 Humes Av, Rio Del Mar / Seascape
    
    3 beds, 2 full baths

    Home size: 2,260 sq ft

    Lot size: 7,840 sqft

    Year built: 1971

    Walk Score®: 51
    
40. $799,000 : 68 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 1,105 sq ft

    Lot size: 871 sqft

    Year built: 1997

    Walk Score®: 60
    
41. $799,000 : 58 Seascape Resort Dr #58, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 1,004 sq ft

    Lot size: 871 sqft

    Year built: 1997

    Walk Score®: 60
    
42. $759,000 : 623 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 1,280 sq ft

    Lot size: 871 sqft

    Year built: 1996

    Walk Score®: 63
    
43. $757,000 : 405 Townsend Dr, Rio Del Mar / Seascape
    
    3 beds, 3 full baths

    Home size: 2,184 sq ft

    Lot size: 7,405 sqft

    Year built: 1965

    Walk Score®: 52
    
44. $755,000 : 113 Bar Harbor Ct, Rio Del Mar / Seascape
    
    2 beds, 2 full, 1 part baths

    Home size: 3,259 sq ft

    Lot size: 5,662 sqft

    Year built: 1976

    Walk Score®: 54
    
45. $735,000 : 110 Paseo Ballena, Rio Del Mar / Seascape
    
    4 beds, 2 full, 1 part baths

    Lot size: 2,613 sqft

    Walk Score®: 38
    
46. $729,000 : 197 Via Trinita, Rio Del Mar / Seascape
    
    4 beds, 3 full baths

    Home size: 1,921 sq ft

    Lot size: 5,662 sqft

    Year built: 1977

    Walk Score®: 48
    
47. $724,000 : 442 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full, 1 part baths

    Home size: 1,280 sq ft

    Lot size: 435 sqft

    Year built: 1995

    Walk Score®: 66
    
48. $719,000 : 215 Mirada Dr, Rio Del Mar / Seascape
    
    3 beds, 2 full baths

    Home size: 1,769 sq ft

    Lot size: 6,098 sqft

    Year built: 1968

    Walk Score®: 31
    
49. $699,000 : 25 Seascape Resort Dr, Rio Del Mar / Seascape
    
    2 beds, 2 full baths

    Home size: 1,200 sq ft

    Lot size: 871 sqft

    Year built: 1995

    Walk Score®: 65
    
50. $699,000 : 450 Seascape Resort Dr, Aptos
    
    2 beds, 2 full, 1 part baths

    Home size: 1,300 sq ft

    Lot size: 435 sqft

    Year built: 1996

    Walk Score®: 65
    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Real estate ads are usually full of acronyms and terms that are unfamiliar to first-time buyers. Here’s a cheat sheet to let you in on the lingo.

4B/2B: four bedrooms and two bathrooms

assum fin: assumable financing

bedroom: usually a sleeping area with a window and a closet, but the definition varies in different places

bathroom: There are three types of bathrooms: a full bathroom is a room with a toilet, a sink and a bathtub; a three-quarter bathroom has a toilet, a sink and a shower; a half bathroom or powder room has only a toilet and a sink.

closing costs: the entire package of miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs include the brokerage commission; mortgage-related fees; escrow or attorney’s settlement charges; transfer taxes; recording fees; title insurance and so on. Closing costs are generally paid through escrow.

CMA: comparative market analysis or competitive market analysis. A CMA is a report that shows prices of homes that are comparable to a subject home and that were recently sold, are currently on the market or were on the market but did not sell within the listing period.

contingency: a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. One example is a buyer’s contractual right to obtain a professional home inspection before purchasing the home.

dk: deck

expansion pot’l: expansion potential means that there’s extra space on the lot or the possibility of adding a room or even an upper level, subject to local zoning restrictions.

fab pentrm: fabulous pentroom, a room on top (but under the roof) that has great views

FDR: formal dining room

fixture: anything of value that is permanently attached to or a part of real property. Fixtures include installed wall-to-wall carpeting, light fixtures, window coverings, landscaping and so on. Fixtures are a frequent subject of buyer and seller disputes. When in doubt about who will have ownership of fixtures, get it in writing.

frplc, fplc, FP: fireplace

gar: garage

gard: garden

grmet kit: gourmet kitchen

HDW, HWF, Hdwd: hardwood floors

hi ceils: high ceilings

in-law potential: potential for a separate apartment, subject to local zoning restrictions

large E-2 plan: one of several floor plans available in a specific building

listing: an agreement between a real estate agent and a home owner that allows the agent to market and arrange for the sale of the owner’s home. The word ” listing” is also used to refer to the for-sale home itself. A home being sold by the owner without a real estate agent isn’t a ” listing,” it’s called a FSBO (for sale by owner).

lo dues: low homeowner’s association dues. Do your research to find out just how ” low” the dues actually are compared to other dues in the area.

lock box: locked key-holding device affixed to a for-sale home so real estate professionals can gain entry into the home after obtaining permission from the listing agent

lsd pkg: leased parking area; it may come with additional cost

MLS: Multiple Listing Service. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate agents. Membership isn’t open to the general public, although selected MLS data may be sold to real estate listings Web sites. MLSs are local or regional. There is no MLS covering the whole country.

nr bst schls: near the best schools

personal property:movables, such as appliances and furniture

pot’l: potential

pvt: private

pwdr rm: half bathroom or powder room

real property: real estate is legally called “real property”

REALTOR^®: a real estate agent or sales associate who is a member of the NATIONAL ASSOCIATION OF REALTORS^®. Not all real estate agents are REALTORS®.

title insurance: an insurance policy that protects a lender’s or owner’s interest in real property from assorted types of unexpected or fraudulent claims of ownership. It’s customary for the buyer to pay for the lender’s title insurance policy.

upr: upper floor

vw, vu, vws, vus: view(s)

If you need anything else demystifying – feel free to drop me an email or give me a call.

Santa Cruz Homes - Monterey Homes - Santa Cruz to Carmel - Monterey Bay Real Estate Property

Not-So-Sure-Fire Improvements

• Adding a pool
• Adding high-end accessories
• Adding wall-to-wall carpeting
• Adding elaborate landscaping
• Adding new windows

Everywhere you look these days, folks are sprucing up their homes. Although interest rates are rising, consumers are still enamored with the home improvement craze î º and with good reason. They have a lot invested. Balances on home-equity lines of credit have soared 71 percent to $543.2 billion over the last two years, according to an analysis by Equifax Inc. and Moody’s Economy.com. Although some of this money was spent on consolidating high-interest credit card debt, vacations, and college tuitions, a large portion was earmarked by homeowners for improvements to increase the value of their homes. The problem, however, is that many of their investments may fail to recoup even half of their original spend.

You can’t contemplate home improvement in a vacuum. While a media room is one of today’s hottest remodeling projects, if your house is in dire need of an additional bathroom, then theater-style seating and soundproof walls will most likely be a wash at resale. If watching the latest blockbuster with your family in the comfort of your own home is worth more to you than whether you will recoup 60 to 80 percent of the project’s cost at resale, then go for it. But don’t expect potential buyers to get lathered up about the built-in surround sound system when the insect-damaged front deck is in need of serious attention. Below are five home improvements that don’t always increase the value of your home.

Swimming Pools

You may envision hours of summer leisure and family fun. Potential homebuyers see maintenance, expense, and LAWSUITS. If you want to spend $75,000 on an in-ground pool and are prepared to get nothing in return for that investment î º except the pleasure of cooling off every night after work î º then go right ahead. Pools are actually one investment that can actually lower the value of your home. It is not uncommon today that a contingency of sale is that the current home seller must dismantle the above-ground pool or fill in an in-ground pool before the buyers will sign on the dotted line.

High-end Accessories

Unless your home is of similar quality throughout, don’t over-improve one or two rooms with high-end accessories to the exclusion of everything else. You won’t recoup even half the money you spend on a restaurant-quality cook top, a whisper-quiet dishwasher, and imported Italian floor tiles if you only have one bathroom with pitted vinyl flooring, a leaky faucet, and bedrooms that haven’t had a change of paint since the 1960s. A rule of thumb is to keep everything in your home of similar style and quality and keep your home within the top 25 percent of other homes in your neighborhood.

Wall-to-wall carpeting

Beat-up wall-to-wall carpeting may detract from the value of your home, but ripping it all out and replacing it with new carpeting isn’t necessarily the solution. First of all, good-quality carpet is getting more expensive î º upwards of $15 to $25 a square yard, and that doesn’t include installation. The other problem is that your choice of carpeting color and style may not match the decorative vision of any potential homebuyers. It might be better to remove the carpeting and take the money you would have spent on replacing it and spend it on refinishing your hardwood floors instead. Then you can add small area or hallway rugs where they make the most fashion and comfort sense. These can be either kept in place or removed during home showings when it comes time to sell.

Elaborate Landscaping

Other than a pleasing-looking lawn and plantings that complement rather than over-power your home, landscaping doesn’t necessarily add a whole lot of value to your home. It is mainly for own enjoyment. Elaborate gardens that will need extensive care  may not recoup even a quarter of your investment at resale. Hardscape, such as stone walls and fences, is attractive, but most buyers won’t even consider them in the value equation.

New Windows

With energy prices on the rise, installing replacement windows is an improvement many homeowners are considering. However, double-hung windows can cost anywhere between $200 and $300 and, unless you’re a DIY wizard, you will have to pay someone to install them. With energy savings and an estimated resale value that hovers around 85 percent, according to Remodeling Magazine, standard replacement windows make sense in some cases. If your windows are in poor shape, with cracked and/or loose panes, sashes that are difficult or impossible to operate, and glass that just won’t come clean no matter how much you scrub, replacing windows can provide you with a good return on your investment. However, if your windows are in good shape, your return will be much lower.

If you are thinking of making some improvements to your home I would be happy to help you decide which offer the best return, just drop me and email or give me a call.

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When evaluating a neighborhood you should investigate local conditions. Depending on your own particular needs and tastes, some of the following factors may be more important considerations than others:

• quality of schools
• property values
• traffic
• crime rate
• future construction
• proximity to schools, employment, hospitals, shops, public transportation, prisons, freeways, airports, beaches, parks, stadiums and cultural centers such as museums and theaters

Neighborhood Search Strategies for Limited Budgets

If you’re a first time-buyer with limited financial resources, it’s wise to buy a home that meets your primary needs in the best neighborhood that fits within your price range. You can maximize your home purchase location by incorporating some of the following strategies into your neighborhood search:

• Upcoming neighborhoods: Look for communities that are likely to become “hot neighborhoods” in the coming years. They can often be discovered on the periphery of the most continuously desirable areas.
  Check for planned future development such as additional transit; new community services such as pools and theatres; and chain stores planning to move in.
  Look for a home in a good neighborhood that is a bit farther out of the city. If commuting is a concern, purchase a home that is close to public transportation.
• Neighborhood demand: Look at the neighborhood demand by asking your real estate agent whether multiple offers are being made, whether the gap between the list price and sale price is decreasing and whether there is active community involvement. You can also drive around neighborhoods and see how many “sale pending” and “sold” signs there are in a particular area.
• Co-ownership: Look into purchasing a condominium or co-op, rather than a house, in a desirable neighborhood. This way you still may be able to purchase in a prime area that you otherwise could not afford.

As a Realtor I can offer you neighborhood information to guide you and help narrow your home search by identifying neighborhoods that are right for you.

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