John Dodson Real Estate

211 Reata St Salias CA 93906 Just listed shown by appointment only http://client.rw.imprev.net/10/910/28789/

Just listed 1233 Pacific Ave Salinas Ca 93905 http://client.rw.imprev.net/10/910/28826/28826.jpg

Check out our New Listing 16 Alder Circle Salinas Ca 93905 Shown by Appointment only Call for private showing

http://client.rw.imprev.net/10/910/28456/

Buying a House in Salinas May Require a Momentum Shift It can feel a little like a trip to the shore in springtime, before the summer sun has warmed the water. The water might be okaybut it also might be bone-chilling! Most Salinas residents will choose caution, and stick their toe in, first... Deciding whether to buy a house when you have been renting for a while means taking a much more significant plunge. And there’s no way to test the waters, either: you’re either going to buy a Salinas house or, you aren’t. It’s in or out. And it’s also a deeply personal decision. Momentum can be a deciding factor. Many people defer buying a home because it comprises such a major change. Especially if they are satisfied with their current rentaland even more if buying a house would make them homeowners for the first time it would seem to require a major event to get them motivated. There actually has been something like a major event, but it’s a slow-moving one that doesn’t rate banner headlines in the newspapers. It’s not an earthquake, or fire, or outbreak of war or pestilence. It’s simply a finding by the Federal Reserve. They published it in their triennial Survey of Consumer Finances. It states: In the past 15 years, the net worth of the typical homeowner has ranged between 31 and 46 times that of the net worth of the typical renter. It’s a simple fact that homeowner equity is a substantial component of homeowner wealth. And you can’t build equity withoutwell, buying a house! Many thoughtful would-be Salinas homeowners have hesitated during the last few years as the logical result of the tumble of residential real estate. If you didn’t have to sell your home, that part of the financial turmoil may have caused scare headlines, but was an otherwise abstract event. But if you had to move and sell, it could have been painfully real (unless you immediately bought another house at an equally depressed price level). The real estate recovery that is still under way is a less jarring, slow-moving eventmuch less of a headline-maker. But the financial reality the Fed points to is surprisingly relevant. It was conducted in 2013, after the housing industry meltdown. Homeowner wealth registered a full 36 times the net worth of renters. Evidently, the financial wisdom of buying a house seems to remain a constant, no matter what! Buying a house in Salinas is a traditional way of building a solid financial picture, but it’s also a source of pride and family cohesiveness. If you have been thinking about wading into homeownership this spring, I hope you won’t hesitate to give me a call. I have all the information you’ll need to decide if the water feels fine to you!

Salinas Rental Property Choice Involves 6 Key Factors Just about any investor on the lookout for a promising Salinas rental property has a number of assumed criteria in mindoften arrived at without bothering to sit down to list them. Remember, this is already a successful individual, usually with ample business experienceand always with the financial acumen to be able to make a substantial investment. For them, creating a written decision matrix really isn’t necessary....Continue reading

Boomerang Buyers in Salinas Emerge from 7-Year Limbo There is a seven-year window for some past Salinas homeownersand it’s one that’s opening, not closing. The ‘window’ in question is the one that could activate Salinas Boomerang Buyerswhich would come as good news for the local home sales. Some background about Salinas Boomerang Buyers. It’s a term coined in the wake of the subprime mortgage fiasco, describing those burned by the housing crisis. They were, on the whole, ...Baby Boomers and GenXers who were caught up in the Great Recession. For many who became enmeshed in the effects of the nasty confluence of the cliff-dive of the subprime mortgage bond market and collapse of residential valuations that swept the nation, foreclosures or short sales became, literally, offers they couldn’t refuse. Not only did the bitter aftertaste leave many with a spoiled appetite for homeownership, but the damage done to the credit ratings of millions made that a moot point: they had fallen off the scale when it came to qualifying for a new mortgage. But that was then; this is now. It’s a now that, in RealtyTrac Newsroom’s breathless phraseology, the first wave ofhomeowners who lost their home to foreclosure or short sale during the foreclosure crisis are now past the seven year window they conservatively need to repair their credit and qualify to buy a new home. Soon, more and more Boomerang Buyers in Salinas will be in the clear, if they choose to be; and they are only the first wave. Nearly 7.3 million potential boomerang buyers nationwide will be in a position to buy again from a credit repair perspective over the next eight years, says Newsroom. Bankrate, the mortgage and financial advice website, sees the group as particularly well-qualified. They quote a broker in North Carolina to that effect: If you’ve been through a foreclosure, you’ve already been a homeowneryou know the process. You’ve been through hell sometime in the last seven years That word ‘sometime’ is apt, because the seven year period has been anything but uniform. Guidelines for that waiting period have sometimes been three years for FHA qualifiers, or even shorter for portfolio loans that lenders keep on their own books. But whether it’s three or seven years, the clock usually starts ticking only when a foreclosure has been completed. But according to FICO, although a foreclosure remains on a credit report for seven years, the negative impact will fade as time passes. For potential Salinas Boomerang Buyers still waiting for a foreclosure to disappear altogether from their credit reports, there are other routes that can lead to a homeownership reboot. For more on buying or selling, I’m always pleased to sit down and discuss some of the great opportunities in our current market! See more

Patience + a Real Estate Agent = Job Done! Unless you’ve had occasion to buy a corporate jet or office building recently, the sheer size of a home purchase puts it in a class of its own. One indicator is that most people decide to engage the services of a real estate agent to help them out. This is not a trip to the mall... It follows that first-time home buyers usually approach the whole process with a great deal of cautionan entirely appropriate attitude. Buying a home is...Continue reading

New Mortgage Idea Gets Attention from Serious Players Something new is stirring in the ordinarily hidebound world of residential mortgage offerings: a new way of approaching the financing of home purchases. If successful, it might well shift the way some Salinas mortgage contracts are written. The experiment is known as the Wealth Building Home Loan, and it addresses a home-ownership problem that has been talked about for a long time, with little being done to solve it. Th...Continue reading