Roseville kicks off Town Square with food truck party – Roseville Press-Tribune

Posted by on Apr 29, 2012 in Roseville Area News | 0 comments

Roseville kicks off Town Square with food truck party – Roseville Press-Tribune.

Read more
What is Home Equity?

What is Home Equity?

Posted by on Feb 13, 2012 in BLOG | 0 comments

Definition of Home Equity

Home equity is the fair market value of a homeowner’s property minus any outstanding liens on the property. Overtime, equity is increased in a property as the homeowner pays against their mortgage and/or the property value appreciates. Homeowners may also build equity by purchasing it with their down payment on a property.

Investors and many homeowners look to purchase properties in which equity will grow overtime to give them a return on their investment when the property is sold.

Home Equity may also serve as collateral to obtain loans. Home Equity Line of Credit (HELOC) or Home Equity Loan.

Examples of Home Equity

Example 1: Mary is looking to purchase a home for $100,000 and plans to put a 20% down payment and finance the rest. Assume the home that Mary is purchasing has a fair market value of $100,000. After the sale closes, Mary’s down payment of $20,000 is now considered equity in the property.

Fair Market Value: $100,000 – Outstanding Liens(Mortgage): $80,000 = $20,000 in Home Equity

Example 2: Rick bought a home for $250,000 by putting 10% down and financing $225,000. After 5 years of Rick making his monthly mortgage payment of $2,000 he now only owes $105,000. Assuming Rick’s home is still worth $250,000, he has built up $145,000 in equity.

Fair Market Value: $250,000 – Outstanding Liens: $105,000 = $145,000 in Home Equity

Example 3: Let’s take the same scenario from Example 2 with Rick however now we are assuming that his property value has appreciated over the 5 years of ownership. Rick’s property now has a fair market value of $300,000.

Fair Market Value: $300,000 – Outstanding Liens: $105,000 = $195,000 in Home Equity

 

Read more

Living in Sacramento – Experience this East Sacramento Neighborhood

Posted by on Feb 9, 2012 in BLOG, Neighborhoods | 0 comments

Why You Should Live in East Sacramento

I invite you to experience one of the most desirable neighborhoods in Sacramento California. Located near midtown, East Sacramento is tucked in nicely along the American River just north of U.S. Highway 50. East Sacramento is home to McKinley Park, one of Sacramento’s most popular parks and sought after neighborhoods. Also located here is the famous “Fabulous Forties” neighborhood which was once home to President Ronald Reagan.

When you come to town, make sure to take a trip down J Street, one of the East Sacramento’s main strips. J Street and also Folsom Blvd. are filled with nostalgic charm, friendly local businesses, amazing restaurants and of course the incredible houses. The street grid in East Sac makes traveling around incredibly easy. It’s not surprising to see people out for a walk or bike ride especially when the sun is out. Local coffee shops and independent local markets are just a convenient walk away.

East Sacramento is very family friendly place to live with great schools and many local neighborhood parks to choose from. There are specialty boutiques for kids and even dance studios geared toward kids. The Holidays are a special time in East Sacramento for families too. Take your kids on a light tour of the “Fab 40′s” and see Santa Claus in the annual Christmas parade. On the fourth of July, East Sacramento residents celebrate Independence Day in a big way. There is a parade during the day and lots of block parties planned around kids activities and of course fireworks when the sun goes down.

The East Sacramento experience is one that stays with people. Many of the children who grow up in East Sac come back to raise their families here too. The family friendly environment, nostalgic streets and “revival” style architecture take visitors back to a simpler time. It’s hard to leave this neighborhood once you’ve experienced it and that’s probably why it keeps bringing people back. So if you’re planning on living in Sacramento, East Sacramento should be a the top of your list of great Sacramento neighborhoods to check out.

Read more
Heath Paulat DRE# 01840811 - RE/MAX Gold Roseville