The Importance of Trust Agreements

REPOSTING THIS BY REQUEST – please say safe my friends!

Hello Caton Team Followers – for those of you who caught my Instagram Stories this morning – here is the information on Trust Agreements I found on Bankrate.com as promised.  Never hesitiate to reach out to The Caton Team with any questions and we can point you in the right direction.

What is a trust?

You’ve heard of trust fund babies — those enviable young adults who live a worry-free life since they don’t have to earn a living. Just what exactly is a trust fund that provides them an income, and for that matter, what is a trust?

A trust is a vehicle to pass assets to a trustee, who in turn holds those assets — in a trust fund — for a third party, such as a beneficiary. Trusts can be an appealing option if your aim is to minimize taxes, protect assets and avoid the probate process. If you create a trust, you also can control how and to whom those assets will be disbursed. You can choose trustees to carry out your wishes. Many people create trusts to minimize hassle and fees for their loved ones, or to create a legacy of charitable giving.

What is the benefit of a trust?

The primary benefit of a trust is that it allows you to determine where your assets go and when your beneficiaries have access to them. A trust can save your beneficiaries from paying estate taxes and court fees, and can protect your assets from beneficiaries’ creditors or from loss through divorce settlements. It also lets you specify where remaining assets should go in the event of a beneficiary’s death. This can be helpful in a family that includes second marriages and step-children.

Trusts also allow you to pass on assets quickly and privately. By contrast, settling an estate through a traditional will may trigger the probate process, which can take a months or even years and can be a public process. With a trust, much of that delay can be avoided, and the entire process is private. This can save your beneficiaries from unwanted scrutiny or solicitation.

Common types of trusts

There are many types of trusts, and each is structured to accomplish different goals. Here are a few examples of commonly used trusts:

  • Marital or “A” trusts: Places assets into a trust when one spouse dies; income generated by those assets goes to the surviving spouse, and the principal often goes to the couple’s heirs when the surviving spouse dies.
  • Credit shelter trusts: These trusts allow both spouses to take full advantage of their estate tax exemptions, which in 2018 is a whopping $11.18 million per person, or $22.36 million per married couple. Assets above this amount are generally subject to a 40 percent estate tax once the second spouse dies. When the exclusion amount is held in a credit shelter trust, the surviving spouse can receive income from the trust’s assets until death, at which point the trust’s beneficiaries receive its assets free of estate taxes. These have become less popular since 2011, when a change in tax law enabled the executor of an estate to elect portability of a deceased spouse’s exemption to the surviving spouse.
  • Charitable remainder trust: The inverse of the charitable lead trust, in that it allots a given amount of income for beneficiaries and the remainder to specified charities.

Revocable vs. irrevocable trusts

People often think of a trust as an alternative to a will—a way of passing on wealth after one’s death. However, you can also create a trust and pass on assets during your lifetime. A revocable trust, also called a living trust, can be altered and even dissolved so long as you’re alive. It will usually keep your assets out of probate but you probably won’t escape estate taxes.

An irrevocable trust, on the other hand, cannot be altered once it has been created. By creating an irrevocable trust, you give up control of your assets but can protect beneficiaries from probate and estate taxes. Most revocable trusts convert to irrevocable trusts upon the death of the grantor — the person who set up the trust.

Why create a living trust?

You might consider creating a living trust for one of several reasons:

  • If you would like someone else to accept management responsibility for some or all of your property.
  • If you have a business and want to ensure it operates smoothly with no interruption of income flow in the event of your death or disability.
  • If you want to protect your assets from the incompetency or incapacity of yourself or your beneficiaries.
  • If you wish to minimize the chance that your will may be contested.

Choosing a trust that works for you

When considering a trust, always seek professional advice to make sure you’re making the right decision for yourself and your loved ones. An estate planning attorney or financial advisor can provide you with expert advice about whether a trust could be a useful component in your long-term financial plan.

I read this article at: bankrate.com

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

 

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

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Is Now the Right Time To Buy an Investment Property? How Low Rates Can Help Investors Increase Their Buying Power

Is Now the Right Time To Buy an Investment Property? How Low Rates Can Help Investors Increase Their Buying Power

With all the upheaval caused by the coronavirus pandemic, now might not seem like the best time to buy any type of real estate, much less an investment property or second home. But don’t rule out the idea completely.

“With historic low rates, it is a good time to consider investing in real estate,” says Victoria Shtainer, a real estate agent and expert at Compass in New York. “Low rates give you more buying power, and we have been negotiating amazing deals for our buyers.”

Mortgage rates are expected to drop again after the Federal Reserve’s recent rate slash, which was intended to protect against the economic impact of the pandemic. That means that it may be time for buyers to consider an investment property. Here are some reasons to go for it.

Why people are considering buying

The lowest interest rates in nearly 50 years, and the potential for a recession, which could lower home prices, have attracted the attention of buyers.

“Given the current volatility in the stock market, investors are reassessing asset allocations in their portfolio, and considering how real estate may fit into this from an asset allocation standpoint,” says Shtainer.

She says the current environment, with low rates and a good selection of inventory, has given investors the upper hand in negotiations.

“More people are looking to real estate as their next investment, because of the potential for both appreciation and cash flow,” says Jennifer Anderson, of Anderson Coastal Group in San Diego. “It’s also a real, tangible item that can provide more control than other forms of investment.”

Benefits of buying an investment property

An investment property can be a valuable asset and a good way to generate passive income, and it might also provide tax write-offs and incentives that you wouldn’t get on other instruments, experts say.

“We always recommend speaking to your qualified tax adviser on your particular situation,” says Shtainer. “However, generally speaking, there can be tax benefits to owning an investment property. This can be via the tax benefits that mortgages provide, as well as the IRS’ treatment of your investment/vacation home, depending on how you rent it out.”

Anderson says that holding a property with the potential for appreciation and cash flow is a huge advantage of buying an investment property. It also diversifies your investment portfolio and protects your net worth while the market goes up and down.

Precautions to take before buying

Buyers should prepare, however, for the possibility of a prolonged economic shutdown. If you’re buying a property that doesn’t currently have tenants, it might be a while before you can find any.

That’s why the most important thing to have on hand before you buy an investment property is cash, says Nick Clements, general manager of Mortgages at LendingTree.

He says that because investment property owners will be responsible for repairs and maintenance, for tenants not paying rent on time, or for the time that might elapse between tenants, they need cash to cushion any bumps in the road.

He also advises buyers to research the appropriate legal vehicle, typically an LLC, with sufficient insurance in place.

“I strongly encourage an umbrella insurance policy. If a tenant gets hurt in your property and decides to sue, you will want to ensure you have the right structure and insurance in place,” says Clements.

To get a better sense of how much rent you might be able to collect, Anderson recommends reaching out to commercial real estate brokerages in the area and asking for historical rental rates for the last 10 years.

“That can give you a good snapshot on how market recessions or booms could impact your earnings or property value,” she says.

How to determine affordability

You don’t have to be a millionaire to invest in property or a second home. To determine whether you are ready to buy, Clements recommends asking yourself two questions.

“Are you cash-flow positive, and could you handle six months without receiving rent? If you can’t answer yes to both of those questions, now is probably not the right time to buy an investment property,” he says.

Shtainer says that buyers should be prudent, just as they would be with their primary residence. She advises that if you’re not buying the property in cash and will need financing, you should make sure you get pre-approved.

Pre-approval will tell you how much the lender is willing to give you for the purchase of your second home.

“Understanding your budget and sticking to it is very important, especially when making an investment,” says Shtainer.

She says that buyers should do their due diligence to ascertain what they can afford, and she suggests they partner with a broker in their market to make sure they are purchasing a property at a favorable market value.

By Ana Durrani | Mar 19, 2020

I read this article HERE 

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.


 

Keep Calm and Carry On With Your Real Estate Needs… Only Later

 

20200320-NM

Some Highlights

  • The COVID-19 pandemic is causing an economic slowdown.
  • The good news is, home values actually increased in 3 of the last 5 U.S. recessions and decreased by less than 2% in the 4th.
  • All things considered, an economic slowdown does not equal a housing crisis, and this will not be a repeat of 2008.

Some Thoughts

  • Prepare for delays
  • Write in contingencies to protect yourself
  • Be Patient – all services are effected, title and escrow, lenders, appraisals, inspectors

This economic response is very different from our 2009 experience.  Our last economic melt down, there was a glutton of homes for sale and due to loan defaults, very strict lending that cut out many purchasers from moving forward.  It slowed down our recovery.

This time a round, we’ve been in a housing shortage and the big differences, this is plenty of affordable loan options available.

When we see a stock market crash, we often see a real estate boom or in this case – perhaps a real estate maintenance – as people divert money and investments from a risky stock market to an investment they can live in – Real Estate – historically real estate always appreciates and you’ll come out head in the long run.

Will there be a price impact – we’d be a fool to think it wouldn’t – but I think that is all relative.  Buyers have always set the price – so as they are cautious prices will reflect that – however we all need a place to live and I think we’ll see a lot of people – who have been waiting for an adjustment ready to take advantage of low rates and possibly slower demand.  I know Warren Buffet buys in a down market – and he knows a thing or two.

The bottom line – don’t freak out.  If you have your home and don’t need to move – don’t fret.  If you are selling or were thinking of selling, hold tight.  RIght now the market is affected by the shelter in place but we were expecting a great Spring Season and now Fall!

We are all in this together –

Let The Caton Team know how we can be of service.

 

I wrote this article and added info from here 

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.


 

Virtual Tours Available by The Caton Team

Hello Caton Team Friends,

We hope you are holding up during this quarantine.  Though our shelter in place has changed how we live our daily lives, The Caton Team believes that homeownership is still an important part of daily lives – maybe now more than ever.

Historically we’ve seen a shift in investments to Real Estate when the Stock Market takes a hit.  Real Estate is an investment you can live in and the most important part of long term wealth and security.

Interest Rates are fantastic and hard to ignore how helpful it is to buyers in a price fix.  Warren Buffet – our skipper – always buys whent he market is down – so for buyers in a price pickle – now may be a great time.

Though tours and open houses have been postposed – The Caton Team is more than happy to provide virtual tours for our buying clients interested in buying during this opportunity and available by phone, text and email.  Willing sellers have allowed one agent to view and video the home, several listing agent are making sure their homes have virtual tours available.

There are several homes currently for sale, we’re seeing homes sell during this time, we have the power to do paperless contracts and maintain social distancing while negotiating.

Many of our listings have opted to stay off market and planning on moving forward once our shelter in place is lifted.

We are committed to help our clients no matter what.  We ask that you give extra time to all the service providers we work with, title, escrow, lenders and inspectors to name a few.

Let us know how we can be of service.  Together – we’ll get through this.

All the best,

Sabrina Caton

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.


 

Three Reasons Why This Is NOT a Housing Crisis

Sharing some great articles so we stay sane.  This one is from shared from Jim Carter.

In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences by reviewing historical trends and understanding the peaks and valleys of what’s come before us is one of the many ways we can confidently evaluate any situation. With concerns of a global recession on everyone’s minds today, it’s important to take an objective look at what has transpired over the years and how the housing market has successfully weathered these storms.

1. The Market Today Is Vastly Different from 2008

We all remember 2008. This is not 2008. Today’s market conditions are far from the time when housing was a key factor that triggered a recession. From easy-to-access mortgages to skyrocketing home price appreciation, a surplus of inventory, excessive equity-tapping, and more – we’re not where we were 12 years ago. None of those factors are in play today. Rest assured, housing is not a catalyst that could spiral us back to that time or place.

According to Danielle Hale, Chief Economist at Realtor.com, if there is a recession:

“It will be different than the Great Recession. Things unraveled pretty quickly, and then the recovery was pretty slow. I would expect this to be milder. There’s no dysfunction in the banking system, we don’t have many households who are overleveraged with their mortgage payments and are potentially in trouble.”

In addition, the Goldman Sachs GDP Forecast released this week indicates that although there is no growth anticipated immediately, gains are forecasted heading into the second half of this year and getting even stronger in early 2021.

20200318-NM-Eng-1

Both of these expert sources indicate this is a momentary event in time, not a collapse of the financial industry. It is a drop that will rebound quickly, a stark difference to the crash of 2008 that failed to get back to a sense of normal for almost four years. Although it poses plenty of near-term financial challenges, a potential recession this year is not a repeat of the long-term housing market crash we remember all too well.

2. A Recession Does Not Equal a Housing Crisis

Next, take a look at the past five recessions in U.S. history. Home values actually appreciated in three of them. It is true that they sank by almost 20% during the last recession, but as we’ve identified above, 2008 presented different circumstances. In the four previous recessions, home values depreciated only once (by less than 2%). In the other three, residential real estate values increased by 3.5%, 6.1%, and 6.6% (see below):

20200318-NM-Eng-2

3. We Can Be Confident About What We Know

Concerns about the global impact COVID-19 will have on the economy are real. And they’re scary, as the health and wellness of our friends, families, and loved ones are high on everyone’s emotional radar.

According to Bloomberg,

“Several economists made clear that the extent of the economic wreckage will depend on factors such as how long the virus lasts, whether governments will loosen fiscal policy enough and can markets avoid freezing up.”

That said, we can be confident that, while we don’t know the exact impact the virus will have on the housing market, we do know that housing isn’t the driver.

The reasons we move – marriage, children, job changes, retirement, etc. – are steadfast parts of life. As noted in a recent piece in the New York Times, “Everyone needs someplace to live.” That won’t change.

Bottom Line

Concerns about a recession are real, but housing isn’t the driver. If you have questions about what it means for your family’s homebuying or selling plans, reach out to a local real estate professional to discuss your needs.

Shared from Jim Carter – I read this article HERE

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.


 

Coronavirus Is Likely To Upend the Spring Home-Buying Season—and Not Just in the Way You’d Expect

I know Real Estate and our future is on my mind.  I am sharing some great articles I’ve been reading in order to sort this all out.  The Caton Team is committed to helping the people of our community.  Homeownership is important now more than ever.  Contact us anytime with any question.  Call or text 650.799.4333 or eMail at Info@TheCatonTeam.com

Coronavirus Is Likely To Upend the Spring Home-Buying Season—and Not Just in the Way You’d Expect

Kids furloughed from school, bars and restaurants closed, and people told to stay at home except for essential errands—the coronavirus pandemic has already upended life as most Americans know it. Now it’s expected to turn the typically busy spring home-buying season on its head as well.

Despite the extremely low mortgage interest rates, the nation could be in for a rocky home-buying season. A recession triggered by COVID-19 appears to be on the way, and the stock market has plummeted, giving many buyers pause. There are also likely to be fewer homes on the market, longer closing times, and plenty of unanticipated delays in the coming weeks, say experts.

“I don’t think we’re going to have the spring boom that we have every year,” says national real estate appraiser Jonathan Miller. “It’s reasonable to assume that people will shift from the drive to save money with lower rates … [to protecting their] personal safety.”

It’s also not yet clear if the recent actions by President Donald Trump, Congress, and the Federal Reserve will stimulate the economy enough to stave off a prolonged downturn. The Federal Reserve slashed its short-term interest rates to between 0% and 0.25% and promised to buy billions of dollars of Treasury bonds and mortgage-backed securities in a bid to buoy the economy.

The president and lawmakers are also weighing a variety of plans to help the economy. Still, they might not be enough to turn the spring market around.

“This was shaping up to be a fairly competitive home-buying season, and that may not be the case” now, says realtor.com’s chief economist, Danielle Hale. “It doesn’t mean that we won’t still see sales. But I would expect fewer crowds at open houses. I would expect more shopping online.”

Hale doesn’t believe home prices will nosedive, as they did about a decade ago. That’s because during the previous financial crisis, there were more homes available than there were buyers. Today, there is a severe housing shortage, and even now there are many more eager buyers than reasonably priced properties for sale.

Some real estate markets will be harder-hit than others

The problem is that just about everything is uncertain, with the news changing by the minute. California has several of the hottest markets in the country, but with the entire state under order to shelter in place as of March 19, home sales are certain to slow.

Going to a home showing is probably not considered an “essential outing” under the order. Sellers could pull homes off the market, closings could be delayed. And more big cities and smaller communities could find themselves in similar situations.

“It’s probably going to be very different in every market,” says Hale. “I would expect bigger impacts in areas that have seen the greatest numbers of the virus. People are more likely to stay home in those areas.”

In badly affected areas, sellers are beginning to pull their properties off the market. Others likely won’t list their homes until the crisis wanes. At least one multiple listing service, based in the Seattle area, is no longer advertising open houses. And many buyers are canceling showings.

“Do you want 20 people walking through your open house?” asks appraiser Miller. “Do you want to go into a stranger’s house?”

Some buyers are worried about contracting the COV-19 virus. Others are hesitant to deplete their life savings and lock themselves into a 30-year loan with a potential recession on the horizon. And many are concerned about both.

Coldwell Banker agent Danielle Schlesier says she is virtually showing homes around the Boston suburb of Brookline, MA, to eliminate person-to-person contact. She’ll do FaceTime tours with her clients while inside a home for sale, and shoot videos.

The upside is that there isn’t expected to be as much competition from home shoppers.

“They can negotiate for better prices,” says Lawrence Yun, chief economist of the National Association of Realtors®. “And of course, mortgage rates are exceptionally low.”

Closings could take longer this spring

Low mortgage interest rates have also spurred a refinancing boom from homeowners seeking to lower their monthly payments. Lenders are inundated. And that could slow down the mortgage approval process for first-time and other home buyers.

With all of that business, lenders might issue loans to only the most qualified among them, says Elysia Stobbe, author of “How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye.”

She expects loan officers to look for applicants with higher credit scores, more stable income, lower debt, and more savings.

“It’s crazy,” she says. “Everything is slowing down” when it comes to loan processing times.

Other in-person services, such as home inspections and appraisals, could also cause delays in home buying. Some worried sellers, inspectors, and appraisers have canceled or delayed these services.

Still, buyers’ interest won’t be going away.

“The uncertainty doesn’t change people’s long-term desire to own a home,” says Hale. “They may not be brave enough to jump in and submit an offer now, given all the uncertainty. But they’ll still be looking.”

By Clare Trapasso | Mar 18, 2020

Clare Trapasso is the senior news editor of realtor.com and an adjunct journalism professor at St. John’s University. She previously wrote for a Financial Times publication, the New York Daily News, and the Associated Press. She is also a licensed real estate agent with R New York. Contact her at clare.trapasso@realtor.com.

I read this article HERE

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.


 

The Caton Team with some Buyer Advice

Welcome to our new series by The Caton Team – Client Advice – things we’ve picked up in the past 35 years of being Realtors…

When considering a home purchase… Do not change your financial snapshot. Do not open or close any credit lines. Try to keep your finances as they were the day your home loan was approved.  Trust me – you’ll thank us later…

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Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

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Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.