The hamlet of El Dorado Hills, located on the slopes of the high Sierras, serves as the entryway to gorgeous El Dorado County, California. If you want to spend a weekend in a mountaintop town with a variety of beautiful vistas, this is the place to go.

The settlement is high above the ground at the foot of the mountains, rising from 200 feet to more than 10,800 feet. There is a lot to do in El Dorado Hills. In the winter, for example, you may travel from the hamlet up to the Sierras to ski. Similarly, you may enjoy wonderful good wines in the village’s wineries. The American River also provides an excellent chance for whitewater rafting for daring visitors.

There are around 1,000,000 acres of national forest in El Dorado County, with the Desolation Wilderness region being California’s most visited wilderness area. In addition, there are 11,640 acres of lakes in El Dorado County. Would you want to learn more about El Dorado Hills? The following are some of the best things to do in town:

Shopping, Dining, and Entertainment at El Dorado Hills Town Center

The El Dorado Hills Town Center was rated the #1 “Best Live Music Venue” in 2018 by the Sacramento A-List, which should be more than enough motivation for you to come. Aside from live music, the shopping center is home to a variety of high-end retail establishments.

Similarly, the town center offers a variety of must-try dining alternatives, ranging from informal dinner locations to premium eateries. Enjoy your breakfast while gazing out at the adjacent lake. After your dinner, you may watch the newest movie at the IMAX cinema in the town center.

Visit Promontory Park and Sport Complex for the Day

The Promontory Park in El Dorado Hills, located on Alexandra Drive, offers a variety of activities for both residents and visitors. During your stay, you will find natural grass sports fields and courts, children’s playgrounds, and a picnic area.

This 18.7-acre park was opened in 2007, and it is continually being expanded. What sports are available to you here? Adults and girls can participate in bocce, tennis, and softball. All of the courts and grounds for these games are also illuminated, allowing you to play late into the night. Similarly, in their own places, you may have a lovely picnic or BBQ.

Dry Diggings Distillery Offers Fine Spirits

The Dry Diggings Distillery launched in 2008, making it the first distillery of its sort in quite some time. The distillery was part of the “early second wave” of tiny distilleries in the United States in the mid-2000s. They provided tourists with comprehensive distillery tours and allowed them to sample their whole line of spirits. Similarly, they sold unique gift products.

Dry Diggings Distillery partnered with Amador Distillery in 2015 to manufacture more spirits using locally farmed fruit and grain. Dry Diggings now offers tours and tastings of spirits aged in barrels for more than ten years.

Mraz Brewing Company Offers a Variety of Unique Beers

Mraz Brewing Company is the place to go if you want to experience genuinely outstanding Belgian-inspired or American-style beers. Their renowned beers have also received several honors. At Mraz, you can be certain that you are drinking only the greatest quality beer.

Similarly, this brewery is unique in that it does not develop a predetermined beverage list. They like to shake things up, with an ever-changing menu of entirely different brews created with only the best and most distinctive ingredients. They’ve created over 100 distinct beers throughout the years, with more on the way.

At the El Dorado Saloon & Grill, You Can Grab a Bite to Eat

Anyone who has never been to a new town should be hungry. When your hunger grumbles, sneak into the El Dorado Saloon & Grill and devour their delectable cuisine. The venue features live music, so you can listen to your favorite tracks while eating or drinking. You have the option of staying inside the restaurant or enjoying the beautiful scenery and weather from their amazing patio tables. Nachos, buffalo wings, cheeseburgers, chicken sliders, and more dishes are available. Similarly, they serve delectable beers, wines, and cocktails at happy hour.

Shop New Clothes at the Runway Boutique

The Runway Boutique, one of the leading shops in the community, is located close to the El Dorado Hills Town Center. The company specializes on assisting women who want to get the best clothes and accessories for their budget or unique style. They offer the highest-quality clothing and accessories to ladies of all ages, body types, and styles. The store carries sophisticated designer apparel that may be worn for any occasion, formal or informal. There are also matching shoes and jewelry for sale at varied costs. If you’re unsure what to buy, the knowledgeable staff will guide you to the garments that are right for you and will never go out of style.

Face In A Book Will Expand Your Knowledge

Who says a bookshop can’t be a tourist draw? If you wish to broaden your horizons in El Dorado Hills, visit the Face in a Book bookshop and immerse yourself in a sea of literature. The store sells books on a wide range of topics, and its inventory number in the thousands.

In addition to books, the bookshop sells stationery, greeting cards, and other gift goods. When you visit Face in a Book, you may come across unique activities hosted for the community to enhance their connections via books. These events, such as children’s book events or book signings, draw a large number of readers from throughout the country.

Take a stroll in Kalithea Park

This park may be found near the junctions of Powers Drive, Gillett Drive, Ridgeview Drive, and El Dorado Hills. During your stay, you’ll be treated to a spectacular perspective of adjacent Sacramento and the impressive Folsom Lake. These vistas help to explain why the park is known as “Kalithea,” which translates to “beautiful view” in Greek.

Aside from the scenery, you may also take use of the park’s other attractions. You may, for example, let your children play at the children’s play structure while you play with friends on the sports field, which is placed on natural turf. You may also host a BBQ in the park with your friends or family.

Hike across the Old Salmon Falls Bridge

Every year, a moderate number of hikers use this 3.9-kilometer back path near El Dorado Hills because it is suitable for hikers of all ability levels. Even if you’re not a seasoned hiker, you’ll enjoy simply strolling along this nature route. From October to March is the ideal time to visit this location.

This bridge is usually hidden beneath Folsom Lake, only emerging when the lake’s water level dips below 400 feet. This bridge was constructed in 1925 to connect the opposite sides of the American River’s South Fork. Cross the Old Salmon Bridge to reach the Darrington Trail, which leads to the Peninsula Campground.

Folsom Lake State Recreation Area is a Great Place to Get Outside

El Dorado Hills is about 13 minutes away from Folsom, where you may explore the Folsom Lake State Recreation Area. This state park, which includes a lake and leisure area, is located in the foothills of the gorgeous Sierra foothills. What activities are available at this park? If you enjoy the great outdoors, you’ll enjoy hiking, riding, and camping here.

Similarly, you may enjoy the lake by renting a boat or going water skiing. Folsom Lake also has trout, catfish, and perch fishing. The park also includes the historic Folsom Powerhouse, which adds a touch of history to the setting. This structure was previously known as the “greatest operative electrical plant on the American continent.”

In Closing

El Dorado Hills has a plethora of recreation and adventure opportunities. Similarly, it’s an excellent starting place for visiting adjacent cities with stunning natural features. You won’t go wrong with El Dorado Hills if you want to satisfy your daring side. Make your reservation today!

If you’ve decided it’s time to put your lovely El Dorado Hills home for sale, there are a few things you should do to ensure a swift and profitable transaction.

Naturally, the first step is to select a fantastic real estate agent that knows the ins and outs of the market in this picturesque Northern California lake town better than anyone else and will work tirelessly to ensure a successful transaction.

The next item on your to-do list should be to stage your home. If this is your first time selling a home, this notion may be foreign to you. If you’ve ever sold a house, you’ve probably staged it before putting it on the market.

Staging is a catch-all phrase for preparing your property, both inside and out, so that it shines when buyers begin visiting it, whether during an open house or in private showings.

The purpose of staging the inside of your house is to allow potential buyers to imagine themselves living in the property with their furniture, décor, and other items. Consider it like providing them with a blank canvas on which to let their imaginations run wild.

Staging include decluttering, cleaning, painting, and making any cosmetic repairs, as well as arranging furniture to highlight the floor layout of El Dorado Hills houses for sale. The closer you can go to providing buyers that “wow” effect, the more likely you’ll get top bids from folks who feel they have to have your house.

El Dorado Hills serves as an excellent backdrop. It’s now up to you to nail the preparation.

BENEFITS OF STAGING EL DORADO HILLS REAL ESTATE

Yes, staging your house will cost time and effort, as well as a few dollars here and there. But don’t worry, statistics suggest that staging is worthwhile.

According to the National Association of Realtors’ 2021 Profile of Home Staging, 82 percent of buyer’s agents said that staging a property helped them visualize a house as a future home.

The benefits of preparing El Dorado Hills homes for sale are many. According to the NAR research, 23 percent of sellers’ agents reported a 1 percent to 5 percent boost in buyer bids for staged properties over those that had not been staged. The same proportion of sellers’ agents, 23%, stated that properties that had been staged were on the market for fewer days than those that had not been staged.

TIPS FOR STAGING YOUR EL DORADO HILLS HOMES FOR SALE

ELIMINATE PERSONAL ITEMS AND DECLUTTER

To begin, walk from room to room and remove any items that are just unnecessary. Real estate professionals recommend that you clean away at least half of everything in your closets, shelves, cabinets, kitchen pantry, bathroom vanities, and any other areas of your home where “stuff” has collected over time.

Buyers will touch, prod, and look into every possible place in your property because they want to see how their stuff will fit in the home if their offer is approved. Furthermore, decluttering will make your house appear lot more open and inviting.

Consider this: decluttering allows you to get a jump start on packing, something no one enjoys. This is an excellent time to sift through your belongings and pick what you want to take with you when you move and what you don’t. As you declutter, pack up everything you wish to save and store it in boxes. Everything else may be donated to a local thrift store, recycled, or thrown out.

This is also the time to start depersonalizing your El Dorado Hills real estate. Remove any family photographs and any other personal belongings, including children’s toys and hobby stuff. Buyers will be distracted by reminders of another family and will want to imagine their family living in the property. Regardless matter how difficult it is, it is important to begin emotionally detaching yourself from the home, despite the years of memories you have built up.

CLEAN EACH AND EVERY NOOK AND CRANNY

Now that you’ve made some room, give the house a thorough cleaning. Cleaning the kitchen and bathrooms, steam cleaning the carpets, and dusting and polishing all fixtures Remember that the kitchen is frequently the first area that buyers want to view, so keep it clean and efficient. Clear as many of the counts as possible.

TOUCH UP THE PAINT

Because each buyer that visits your property will have different interests and styles, it’s ideal to paint the major rooms in a neutral hue like beige, gray, or off-white. You could have liked a certain color palette, but some customers will be overwhelmed. Interior design experts, on the other hand, say it’s good to paint one living room wall in a contrasting hue, such as a pastel or earth tone that will be easy on the eyes and recall the neighboring lakes in Folsom and Tahoe or even their beaches.

ARRANGE THE FURNITURE WITH CARE

The next step in preparing El Dorado Hills houses for sale is to arrange the living room furnishings to highlight what makes that space unique, such as a picture window with a stunning view of the lake or a golf course. Remove any unnecessary furniture and clear up the space so that foot movement may flow freely.

Arrange the furnishings in the master bedroom, the family room, and the home office. Leave enough furniture so that the house does not appear stark and chilly, but not so much that it feels crowded.

BRIGHTEN IT UP

Allow the warm sunlight to stream into your El Dorado Hills home by opening the drapes and even replacing heavy curtains with lighter ones. Turn on all lights before buyers arrive for showings to make the property feel warm and friendly.

IMPROVE YOUR CURB APPEAL

Make sure to freshen up your landscape and the front of your property, since this is where purchasers will develop their initial impressions.

If you want to sell El Dorado Hills real estate in the near future, put the Farmer Real Estate Group’s significant expertise in this unique lakeside town to work for you.

While white kitchens have a controlled, crisp, clean air to them, if not properly thought, they may appear sterile or uninteresting. A touch of color may transform otherwise white kitchen ideas into a more joyous, personality-filled area.

ADDING COLOR TO AN ALL-WHITE KITCHEN

There are several methods to add color to a white kitchen, ranging from soft neutral accents to vibrant blasts of color.

1. PERSONALIZE YOUR LOWER UNITS

Cabinetry takes up a lot of room in the kitchen, and with an all-white layout, you’re staring at row after row of plain white doors. Taking a slightly different approach to some of these cabinets is a lovely way to start adding color to a white kitchen.

Upper cabinets and work surfaces should remain white. Then select a different color for the bottom storage containers. For subtlety, use a delicate or pastel tone, or a strong hue for impact. Whichever of the various kitchen color schemes you choose, the height ensures that it does not seem too in your face or is visible from all sides.

2. INCLUDE CONTRAST IN WORK SURFACES

Choosing a dark, contrasting work top to sit above the white cabinets and below the white walls is a subtle way to give a little something to otherwise white kitchen ideas. Choose a dark wood for a more rustic look, or a black stone for a more modern look.

Make these items feel at home by coordinating the hue with other elements in the kitchen, such as chairs, window coverings, and small appliances.

3. SELECT A COLORFULL BACKSPLASH

Rethinking your kitchen backsplash ideas is a simple way to add color to a white kitchen. Tiling is one of the most practical methods to accomplish this, so select a brightly colored patterned alternative for extra appeal. When it comes to patterns, stick to one new hue at a time, with some white thrown in for good measure.

You may have one major or multiple minor wall portions that require extra protection from day-to-day activity. If the latter, you may leave the regions the same or use a different tone or hue for more drama in one location.

4. STAND ALONE CABINETRY, GIVE IT SOME PAINT

In addition to built-in cabinets, many kitchens will incorporate stand-alone storage units. Make use of this chance to add a splash of color. Purchase a bright unit or repaint the one you currently have. If you choose the latter, be sure to look into the best paint for kitchen cabinets to make your life simpler.

When selecting a color, think about how it will complement any other colors that are already in use. For ideas, look to your window coverings, tiny decorations, or even your dinnerware.

5. INCLUDE NATURAL TEXTURES AND TONES

By using natural materials, you may add color and depth to your white kitchen by looking to rustic kitchen ideas. Natural textures and patina are added by wood, raffia, and colorful metals without detracting from the bland environment.

Consider using natural materials in your hardware as well. Leather handles or brass taps are possibilities.

6. BUY STATEMENT HOODING

Rather of hiding your range hood, make a statement with it by adding color to a white kitchen. A bright metallic pick will give a major punch of elegance to the area, and you can incorporate the metal throughout the space through handles, plug outlets, and even your silverware.

If you want to have some fun, search for a brightly colored choice, such as painted metal or wood.

7. SET UP A BLACKBOARD SPACE

For a touch of cafe flair, put a strip of blackboard paint on the wall above an open shelf all the way to the ceiling. Stick to your theme by using white chalk, or keep additional colored chalks on hand to add more rainbow hues as needed.

8. DECORATE YOUR CABINETS ON THE INSIDE

Color may be added to a white kitchen by painting the backs of cabinets and shelves, as well as the insides of drawers. Make use of these normally overlooked areas to provide surprising impact and individuality.

These nooks should be wallpapered or painted. It’s always good studying how to paint kitchen cabinets so that you can easily re-do them when you feel the need to.

9. COLORED LIGHT SHADES CAN BE INCLUDED

We adore a statement pendant light in a kitchen, so take advantage of this opportunity to add a splash of color. You don’t have to go overboard with your kitchen lighting ideas color selections – be as dramatic or as conservative as you choose.

Be mindful that the light cast by colored shades varies. Glass and material hues in oranges, pinks, and reds provide a warm light, whilst blues and greens produce a colder impression. Metal choices have a low impact on light since they are maintained white on the inside.

10. ADD A BLACK POP

With black and white kitchen ideas, you may refresh an all-white kitchen and dining area. This timeless black and white pair doesn’t have to belong just in a modern area; it’s equally at home in a classic or rural kitchen.

Matte black finishes, rather than anything too shiny, work well with this aesthetic, so choose artisanal pottery, traditional spindle-back chairs, or a basic pendant lamp.

11. BUY COLORFULL APPLIANCES

Brightly colored appliances should not be avoided. Because they’re such a large investment, be sure you’re delighted with the color you chose. Pastel tones are ideal for a gentle splash of color in a rural decor. For a modern or retro-style kitchen, use vivid brights, and for a classic kitchen, use rich heritage tones.

12. USE WOOD TO INCREASE WARMTH.

Because wood is a neutral in and of itself, it is a natural complement to otherwise white kitchens. Choose a single wood tone and apply it generously. You may use it for your table and chairs, as well as your cabinets and lighting.

Lighter wood tones will seem warmer against the white, while darker tones will make a more striking contrast.

13. SELECT CONTRASTING PANELING

Use stained, paneled wood as a backsplash to upgrade your kitchen on any budget. Continue this along the wall behind open shelving to make a rustic-style display.

You don’t have to limit yourself to brown. Wood stains come in a variety of hues, so you’ll have lots of options. Remember that stains react differently on different types of wood, so always test stain a section or a spare board first.

14. WALL SECTIONS CAN BE PAINTED

Even in the smallest of kitchens, there are bound to be sections of wall separated from the rest. This could either be from cabinetry or just alcoves from how the room has been built.

Paint these smaller sections in a color other than white for a splash of color without committing to changing the scheme of the kitchen.

HOW DO YOU IMPACT AN ALL-WHITE KITCHEN?

It is not necessary for all white kitchens to be chilly and antiseptic. A few easy additions may quickly warm them up. Woods and other natural materials contribute to a sense of tranquility and warmth. Similarly, flora, whether real or fake, will offer a fresh atmosphere. Lighting, on the other hand, has a significant influence. Make sure you choose the proper sort of white paint in your kitchen to create a warm, rather than a chilly, atmosphere. This will be influenced by the amount of natural light available, the direction from which the light is coming, as well as the size and form of the room.

WHAT COLORS WORK WELL IN A WHITE KITCHEN?

White is the most neutral of all the neutrals, and as a result, it goes with everything! However, there are several hues of white available, and certain tones of white complement other colors better. Always seek for, or inquire about, the undertones. These will aid in determining where on the color palette you could be a suitable fit. When adding color to a white kitchen, it’s crucial to always experiment because the combinations might seem different at different times of day.

Given the amount of uncertainty, the size of the acquisition, and the number of parties involved, you want to protect yourself against the unexpected as a buyer. That’s why most home sales are “contingent” on what happens next, allowing buyers to back out if something goes wrong as the sale progresses through the process.

IN REAL ESTATE, WHAT DOES CONTINGENT MEAN?

“Contingent” indicates “dependent on particular circumstances” in any context. When a house is classified as contingent in real estate, it signifies that an offer has been made and accepted, but certain extra requirements must be completed before the deal is finalized.

For example, if a seller offers a specific price and you, as the buyer, say the price is acceptable (assuming the house inspection is OK), you have entered into a contingent real estate contract. In this situation, the sale of the house is contingent on the inspection finding no faults that were not specified in the contract.

HOW DOES A CONTINGENT OFFER WORK?

With a contingent offer, you have declared that a certain condition must be met before the transaction may proceed. If it does not, the contract is null and invalid, and the seller may accept a backup offer received while the sale remained contingent. Contingencies are frequently utilized to shield the buyer from bad house listings or unanticipated complications throughout the real estate transaction.

Returning to our previous scenario, suppose we make the offer conditional on the house inspection revealing a roof life of 15 years left. If the inspector determines that the roof has just 7 years left, the home will be marked as having an active contingency status. The property seller may then opt to repair the roof or lower the price, or the potential purchasers may decide to cancel the contract, which they may do without penalty because the contingency was in place.

WHAT ARE THE MOST COMMON REAL ESTATE CONTINGENCIES?

Keep in mind that a seller may prefer that the offer be without any conditions. Of course, the buyer wants to create an offer that protects them by containing contingencies, since if you back out of your offer without a contingency escape clause, you may lose the earnest money you provided to cement the sale.

Including contingencies might be problematic, especially in a “hot” market when there is a lot of house purchasing activity. Other prospective buyers may make an offer without a condition, making their offer appear more acceptable and more likely to be accepted by the seller.

For example, if you have a contingency that your own house must sell in order for you to finalize another property purchase, but another buyer’s offer does not, the seller may decide that they do not want to wait. You should use the contingency clause sparingly to ensure that your offer is as appealing as possible.

Are you wondering what contingencies you should think about? Here are a few examples.

CONTINGENCY IN HOME INSPECTION

The house inspection contingency permits a home inspector to analyze the state of the home, inspecting all factors that may not be obvious to the naked eye or that the current buyer may not consider, such as grading or flashing. If the inspection discovers major problems in the home’s condition that have been specified in the contract, the buyer may withdraw from the transaction, or the buyer and seller may discuss who would pay for the repairs.

In other words, even if you have a home inspection contingency, you don’t have to walk away because the house has a problem. You and the seller may be able to reach an agreement on how to cover and handle the repairs.

MORTGAGE CONTINGENCY

A mortgage contingency provides the buyer with a set amount of time to acquire financing. The good news is that this is a funding risk that can be mitigated by conducting basic due diligence. To begin, be certain that you have been preapproved for a mortgage as a buyer, rather than merely prequalified.

Because it includes rather significant documentation upfront to ensure your finances are in line, preapproval brings you much closer to actually securing the mortgage. But keep in mind that just because you’re preapproved doesn’t mean you’ll qualify for a mortgage. Once you’ve made an offer, you’ll need to check in with your lender.

Ideally, all of the documentation will fall into place because you have already completed the majority of it during the preapproval step. However, there are still factors that can throw you off, such as if you’ve changed jobs, had a drop in your credit score, or experienced another financial issue that unexpectedly makes you a less worthy candidate. To avoid unpleasant surprises when you finalize your mortgage, it’s critical to take excellent care of your finances during this phase.

CONTINGENCY IN APPRAISAL

When you get a mortgage, the appraisal contingency comes into play the most. Given the values in the neighborhood, the seller’s asking price may be outrageous, and you may be more than willing to pay it. However, the asking price does not always reflect the worth of the house. Lenders demand an appraisal, which is a third-party assessment of the home’s true value.

Even if all parties agree on a sale price, the lender cannot provide you a mortgage for more than the home’s appraised value. Meeting that appraisal figure might be difficult in an overheated or fast shifting real estate market, but it doesn’t mean you’re out of luck.

You may be able to overcome this if you have the resources to pay extra ahead to make up the difference between the amount of the mortgage loan and the agreed-upon purchase price, or if you can renegotiate.

CONTINGENCY IN TITLE

Many purchasers have been duped by this deceptive piece of paper. The title of the house tells who owns it and who has owned it in the past. However, not all residences have “clean titles.” They may have encumbrances such as easement issues or a previous mortgage lien.

Any disputes against the title might make a buyer’s acquisition hazardous. The good news is that title searches should reveal any issues prior to closing. Even if there is a problem that you can fix, it’s a good idea to buy title insurance to protect yourself against future claims.

CONTINGENCY FOR A HOME SALE

This contingency is tied to the buyer’s financial status and states that the transaction will only go through if your present house sells first. While this can protect you, it’s common for sellers to reject it in a seller’s market because the seller knows there may be another buyer who doesn’t have this restriction.

Of course, this does not imply that you must have the funds to purchase the new home before selling your old one. Your lender may be able to assist you with a “bridge loan” or other financial strategies.

Another option is to request a later-than-normal closing date, which would allow you extra time to sell your home. Remember that some sellers may reject your offer if they want to close the transaction fast, but it may be appealing to other sellers who are looking for a new house or who want to continue the school year in their current home, for example.

WHAT IS A CONTINGENCY IN HOUSE HUNTING?

You’ll be more prepared when you come across an active listing with a contingent status when house hunting now that you’ve learned about common contingencies.

Perhaps if you have your heart set on a certain property, your real estate agent will undoubtedly advise you to remain looking at houses and even make other offers while the house you desire is on the market as a contingent listing. This is especially important in real estate markets with low housing inventory and a large number of buyers.

The last thing you want is to put all your eggs in one basket and have your offer rejected because a contingency failed to materialize. You may also want to negotiate clauses that limit the seller’s ability to accept fresh bids. Always rely on your real estate agent to assist you in negotiating the best terms for your specific situation.

CONTINGENT WITH A KICK-OUT

While they wait, sellers may request a kick-out clause. Sellers can continue to consider offers in a contingency with a kick-out, and they will generally prefer offers with fewer contingencies than the first offer.

While contingencies can help protect you, there is another incentive to make your offer with as few as possible. The good news is that the sellers cannot force you to leave simply because they discover a higher offer. They must tell you and provide you with a reasonable amount of time to remove the contingencies.

CONTINGENT WITH NO-KICK-OUT

In a buyer’s market, on the other hand, sellers may accept a contingency with a no-kick-out condition, which prevents them from accepting new bids while the contingencies are resolved.

WHAT IS THE DIFFERENCE BETWEEN PENDING AND CONTINGENT?

Contingent and pending are two terms that are frequently used interchangeably, but they refer to different stages of the sales cycle.

The seller has accepted an offer in the contingent sale, but everyone is still working out the details. The sale eventually switches to “pending,” indicating that the concerns have been handled and the transaction is nearly complete. At this point, both parties are merely waiting for paperwork to be completed so that the sale may proceed to “close.”

You’re almost there if you’re at the pending stage. Because they are contractually prohibited from accepting offers, most sellers will not continue to show the home while it is pending. The house is nearly yours!

THE BOTTOM LINE: WHY ARE CONTINGENCIES IMPORTANT?

Buying your ideal home may be stressful – after all, it’s likely to be the largest purchase you’ll ever make until you buy another property, and it can be frightening to take the plunge. Fortunately, when you make an offer, there are safeguards in place in the form of contingencies that can protect you as you progress through the house purchasing process. However, as you can see, they might also have drawbacks if the seller refuses to accept an offer from them.

Do you want to know more about the home-buying process? Check out our collection of house purchasing articles that cover a variety of topics, and don’t forget to consult with your real estate agent, who can assist ensure you have all of the knowledge you need for this life-changing transaction.

STEAMBOAT SPRINGS, COLORADO

Steamboat Springs, located in Colorado’s Rocky Mountains, is an authentic, historic mountain community where western tradition meets rich outdoor activity. This town, named after its famed hot springs and signature ski powder, is ideal for nature lovers and those searching for some of the greatest skiing in the nation.

OAHU, HAWAII

There is no better area to be in Hawaii for individuals looking for year-round outdoor fun and a more laid-back lifestyle than Oahu. Oahu is abundant in amusement no matter the season, with world-renowned beaches, great fishing grounds, and beautiful climbs through old volcanic ranges.

SCOTTSDALE, ARIZONA

Scottsdale, known as “The World’s Finest Golf Destination,” is located in the Sonoran Desert at the foot of the picturesque McDowell Mountains. Take advantage of Scottsdale’s luxury lifestyle, which includes excellent eating, shopping, art galleries, and a thriving nightlife, by ascending Camelback Mountain or enjoying a horseback trail ride.

OJAI, CALIFORNIA

Ojai, located in the valley of the Topatopa Mountains, is famous for its mythical “pink moment,” when the sun precisely catches the mountains and bathes the valley in pink hues. Ojai locals enjoy a pleasant small-town vibe surrounded by nature, with multiple vineyards, quirky eateries, and different outdoor activities.

SPOKANE, WASHINGTON

Spokane, a lovely and active city with plenty of green space and outdoor activities, offers a genuine inland Northwest lifestyle. Spokane locals enjoy calm living at its finest, with a small-town vibe but no shortage of large-city conveniences.

When it comes to selecting a second home base, it may be worthwhile to look outside the typical candidates. These five places have a variety of facilities and a lot to offer. Whether you like a mountain lifestyle, sun and sand, peace and quiet, or desert living, take the time to explore these second-home neighborhoods to choose the property that is best suited for your next adventure.

Now Is The Time for A/C Prepping

Any time the temperature rises beyond 50 degrees or so, you may perform a basic check on your air conditioner. You don’t need to leave it on all day; just long enough to ensure that it’s blowing cold and that the outdoor unit isn’t emitting any strange noises or odors. If you try this while it’s too cold outdoors, some units will freeze, while others will just refuse to turn on, and both of these circumstances will likely result in you hiring a repairman for no reason. However, it’s also critical not to wait too long to inspect your unit for faults, as HVAC technicians are in high demand as soon as the weather warms up. Check your unit when the days begin to warm but aren’t too hot, unless you enjoy waiting for service. If you beat the rush, you should be able to find someone to make a repair in a fair amount of time.

Now Is The Time for A/C Prepping

Although much of what it takes to repair an air conditioner unit necessitates the assistance of a skilled professional, there are many things a homeowner can do to prepare their system on their own. Without proper expertise, never remove covers on HVAC equipment, however here are some things you can do right now:

Get rid of the weeds. Weeds growing inside and near your exterior air conditioner unit might obstruct the air flow that allows your unit to function properly. Remove any vines that have climbed inside, trim any weeds growing around the unit, and use this opportunity to spray the weeds within a foot of the unit with a strong weedkiller while the breaker is turned off.

Rinse the condenser unit thoroughly. During the summer, the condenser is the unit that sits outside and hums. The major portion of the apparatus, if you look closely, is a massive bank of small metal fins enclosed in a metal cage. Because the condenser transfers heat from your home through these fins, it’s critical to keep them clean and exposed to the open air. Cleaning them is a simple operation, however it can take some time. Simply hose down the entire device, both inside and out, until there is no more debris or grit in the water pouring out.

Make sure your condensation line is clear. The condensation line is another source of frustration for air conditioners. Even if you use it when your heater is on, a lot more humidity is removed from room air during the warmer seasons, so a problem might not be as noticeable during the winter. You’ll discover an access point near or at your furnace where you may put a little vinegar or bleach through the line to kill algae and mildew that might clog the system.

Make sure your filters are clean. You should clean or replace your filters at least once every three months, but during the winter, things can get a little out of hand. Now is the moment to re-establish healthier routines. Clean or discard your filter if there is any discoloration or apparent dirt, depending on the type you have. For optimal air flow to your unit, repeat this procedure monthly until the end of the summer.

We cherish your business and appreciate your time. We understand that you have options when it comes to real estate, and we welcome the opportunity to assist you in the best way possible.

So I want to clarify how you can get paid to live there now that we understand the multi-family aspect. I would like to use a real example of a couple we supported in doing this to make this easier. Via mutual friends, we met Neil & Samantha. Neil had financial experience and was already interested in the idea of buying an apartment building. We set out on the search after assisting them to better understand the economics of actually buying and running a house. After a few months of searching, the right opportunity emerged. In the El Dorado Hills Browns Ravine area, it was a four-unit property. The property was steps towards the lake trailhead and close to transit.

They wanted to make a bid after crunching figures and looking at similar transactions in the neighborhood. We ended up getting into a competitive offer scenario based on the position and price. Although we weren’t the highest bid, we won the deal and ended up securing the deal at $715k. Neil and Samantha took advantage of an FHA loan and, with only 3.5 percent down ($25,025), were able to close on the house. As a result, their mortgage, including principal, interest, taxes, and insurance, ended up being $4400 / month. After closing, they moved into the building and put around $35k into improving the house.  To really make it something they enjoyed, $26k of the upgrades were made to their private unit. This was not necessary, but it really helped to transform the house into a home. In the $35k of renovations, the other $11k came from small things across the house. From the 3 other units that are leased to tenants, the building now earns $5000 / month. As a result, once their mortgage is paid for, they remain in the house and earn $600/month in income after paying their mortgage.

This doesn’t even account for the tremendous savings from mortgage interest, property tax, and depreciation they earn. If you take these additional items into account, they put well over $1000/month into their pockets and they live in a house they own. Not to mention, with a $4400/month mortgage, they would raise $6650/month in revenue if they were to move out and rent their unit. I urge buyers like Neil and Samantha, to hang on to these properties and let the income pay off the mortgage while providing them with cash flow for the next 30+ years, regardless of whether they remain long.  Even if in 30 years this building did not appreciate a bit, they would have paid off a $715k building that they put down $25k to purchase and spent $35k in making renovations. Bear in mind that the cash flow and tax savings along the way do not account for this. If the building simply appreciates the same construction would be worth $1,363,146 in 30 years at 3 percent year. Not a horrible ROI?

Please get in touch if you are interested in learning more about multi-family property and exploring buying a multi-family property to occupy as an owner or simply as an investor. We would love to have a coffee and to talk more!

The first thing to understand is that this question does not have one answer. The explanation for this is that there are 100 different markets that shift every day in the region. Supply and demand are in continuous flux and are not separate from the stock market. As a consequence, each neighborhood has many distinct markets that do various things.  As an example, let’s look at the Lake Forest elementary market in El Dorado Hills. This demand consists of vintage rehabs, renovation of 10-20 years old & new construction. There are widely varying price ranges, inventory levels and levels of demand within each of these markets. That said, the first thing you have to do is understand your specific market when looking at when to sell.  Each one of these markets is very distinct. One of these Lake Forest markets may be a market for sellers at the moment, while the other is a market for buyers.

If you’ve defined the specific market, it’s critical for your property to look at the current and historical data for that particular market. To assess patterns and current conditions, we look at a couple of big inputs. The number of units available (monthly supply) and the number of units going under contract are the two key measures we want to look at (monthly demand).  This allows us to assess if there are historical patterns that indicate an optimum timeline for sale. There are very strong patterns sometimes and there are no trends at all sometimes. We can determine when is the most appropriate time to list based on that data. Furthermore, It’s important to note that it doesn’t mean that history can repeat itself only because the market has done very similar things over the past three years in March.

Potential owners are also often asked whether they can rent the property out for a few more years in order to gain more value instead of selling now. This is a valid issue as the business has expanded over a span of many years. Our advice is to begin with the presumption that for the next 2-3 years, we don’t know what the market is going to do. Anyone who tells you what the business is going to do is not an advisor to listen to.  You would never have trusted a financial planner who advised you to purchase a stock that he knew would go up for the next two years. Why? That’s basically because nobody knows. Markets’ essence is that they go up and down. They don’t just go up. We completely endorse this if you want to rent and take a chance on more appreciation. It is definitely possible to continue to enjoy the market. That said, we also suggest thinking about what happens if in two years the market drops 10 percent. Is this going to cause you stress? Are you comfortable keeping the property longer before waiting for a recovery?  You can ride the drop off as long as your rental income meets your mortgage, but you will own the property for a longer time than you planned.

I hope this helps to provide you with a better understanding of market timing as it relates to sales. As always, for any specific questions you have about your house, feel free to reach out to us.

Christopher

The updates included painting a very subtle grey for the entire home and painting a grey that was not as light for all the cabinets in the kitchen and bathroom. The cabinets were all a traditional maple finish that made it look like every other home constructed at the beginning of the 2000s. I also promoted a backsplash of white subway tiles that we also ended up doing and replaced the islands dark granite with a light grey fossil stone. We sanded the floors and refinished them to a dark shine. Such changes sound rather minor, but they have had a profound effect on the unit’s appearance and brought it up to current design trends and made the home feel comparable to its new construction rivals.  I encouraged professional staging to really de-clutter the home and show off the space, although their furniture was quite nice. With a nod to high architecture, we staged, and it really made the rooms stand out in the context of the competition.

So, what was the outcome? Just 28 days later, we listed the home for $1.900m and ended up selling it at full price. Needless to say, the customers were delighted and very happy to have put in the additional effort. Most people buy homes from the feeling they get the first time they walk through them. Although the changes may seem slight, they have dramatically enhanced the home’s aesthetic, which generates a lot of demand for the property and consequently higher sales price.

However, being preapproved for a loan does not guarantee that you will receive the funds. Several factors can sabotage your home-buying plans, resulting in a loan denial from the mortgage lender.

Using a mortgage calculator to calculate how much home you can afford and preview future monthly mortgage payments can help reduce the chances of missing out on a home loan.

Why could your mortgage application be turned down after preapproval?

1. Your credit score changes

When a lender agrees to issue you mortgage preapproval, they take your credit score into account heavily. For home loans, most mortgage lenders have minimum credit score requirements. They will refuse mortgage approval if your credit score falls below that amount.

A number of factors can affect your credit score, including new loans, late payments, and closed accounts. You should check your credit report before applying for a mortgage and during the preapproval process to detect any mistakes or fraudulent products early.

Use a credit monitoring program to assess the financial condition Credit Karma. Credit Karma will help you find your credit score, payment background, and fraud alerts, among other things.

It’s a “soft tug” or “soft inquiry” when you check your credit score, which means your score isn’t affected. It’s a “hard-pull” when your lenders review your credit and pull your credit report. Hard credit inquiries are reported on your credit report and have the ability to lower your credit score.

2. Debt levels grow

If your debt grows, your mortgage lender will reject your loan application. Although purchasing a home is exciting, you should wait until your loan is closed before purchasing new furniture or other things for the home. If your debt grows, it will have an effect on your debt-to-income ratio and your ability to repay your new loan on a monthly basis.

If you have many high-interest loans, a personal loan could help you combine your payments into a single bill. Debt restructuring will help you pay off your debt quicker by lowering your monthly payment, lowering your interest rates, and simplifying your finances. This is something you can look at before applying for a mortgage loan.

3. Issues with the appraisal

If the home appraisal comes in lower than the loan amount, your lender will refuse your loan. You have three options: challenge the mortgage rejection, negotiate a lower purchase price with the seller, or pay the difference with your own funds.

4. Shifts in jobs or profits

If you lose your job or have a major pay cut after your lender has preapproved your loan, they have the right to revoke the approval. This is likely to occur if your decreased income makes it impossible for you to meet your mortgage payment while still paying off other debts.

5. There are no records of where your money originated.

You will accept monetary gifts to help fund your down payment while applying for a mortgage. You must, however, keep notes. Anyone who gives you money for this reason should also write you a gift note. This letter tells the mortgage lender that the assets are not a loan that must be repaid, meaning that the ability to repay your new home loan is unchanged.

Steps to take

Before you apply for a mortgage loan, make a plan. Make sure your credit score is fine, and put money away for unforeseen expenses so you don’t have to use your credit cards. Keep track of any gift letters you get from family or friends that support you with your down payment.

Owing to the competitive nature of the housing market, avoid making a bid that is too big to avoid future appraisal issues.

Lastly, most lenders are able to do things a little differently with regard to down payments, interest rates, max loan amounts, closing times, their ability to loan on a multi unit property etc. Make sure you get preapproved with at least three lenders before you begin looking for homes. The more resources you have, the better loan program you’ll get yourself into.