Learn About Buying City Homes and Condos

Rancho Santa Fe FAIR MARKET VALUE

When you buy Rancho Santa Fe real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.

Rancho Santa Fe Real Estate Cycles

One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Rancho Santa Fe market does not necessarily move in tandem with the stock market or the economy as a whole. Rancho Santa Fe is a unique situation.

When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Rancho Santa Fe is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Rancho Santa Fe market will take the lead.

Bitten by the Rancho Santa Fe Home Improvement Bug?

Money isn’t everything however so that if the most important consideration for remaining in your Rancho Santa Fe home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Rancho Santa Fe house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.

Choosing Your Rancho Santa Fe Neighborhood

The fact is that much of the value of Rancho Santa Fe and real estate in general rests in its surrounding economic and social environment, which means it’s neighborhood. In addition to being located in the right neighborhood, the Rancho Santa Fe that you buy must not clash with its surroundings. To picture what we mean here, visualize the most expensive home you can imagine and then place it in the middle of a run down neighborhood. Not so desirable is it?

To sum up, the Rancho Santa Fe that you buy gets its value from a combination of the home’s location and its size, style, age and amenities. You can change the home’s size, style and amenities but you are stuck with the location.

Does Your Rancho Santa Fe Have Curb Appeal?

From cottages to castles some Rancho Santa Fe have so much curb appeal that passersby can’t help but stop and admire them. When visiting property with great curb appeal, prospective buyers often experience 'Love at First Sight' and this disposes them to love the entire home before they even walk through the front door.

Rancho Santa Fe curb appeal is the result of a perfect blend of architectural style, landscaping, up-keep and color choices. Money alone does not guarantee outstanding curb appeal. I’ve seen very expensive Area homes with costly landscaping that fail to appeal and I’ve seen very modest priced Area homes with outstanding curb appeal. In part, the landscaping aspect of curb appeal is a matter of personal taste.

Rancho Santa Fe SALES

When you are thinking of buying Rancho Santa Fe, it may make sense to get a clear picture of the Rancho Santa Fe market before you get too far into your search. It is important to know the current market’s strengths and weaknesses so that you can make wise real estate decisions accordingly.