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Week of January 15th - 21st
Property Tips and Tricks
Rapid Fire
- If you are considering buying a property in the next few months, lining up your cash for the purchase or down payment in advance can help to optimize the process. With banks paying 5% on your money, the timing hasn't been better for many years to sit in cash for a bit.
- Maybe do not sit in cash too long. The longer you sit in cash, the lower your chances are of beating the stock market. I am not a betting man, but the odds are you have less than a third (31%) chance of beating the stock market if you sit in cash over the next year. Your chances of beating the market over a 10-year period drop to 15%.
- Always negotiate. If you are getting a loan to purchase a property, it pays to shop around. If you have good credit, loan fees or loan rates are almost always negotiable. In general, the cost of the loan has two parts - the interest rate and upfront costs. You can try to work the levers on both, with multiple lenders, to land the best deal for yourself.
- Pay bills from your vendors/home service providers quickly, not only will they appreciate the prompt payment, but they'll remember that you are the client who always pays immediately. If you'd like to retain these vendors in the future, there's a good chance this will elevate your priority with them.
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Jonathan Balog
DRE# 01980970
Broker
M: 831.747.0310
[email protected]
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.