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- • Search out the latest MLS listings of homes for sale by using the SEARCH FORM (above, right)
- • For up-to-date information on the housing market in Napa see my article below.
- • Explore my newsletters (News tab in the top navigation bar). Read snippets below and archived articles to the right.
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Recommendations for those looking for a home for sale in Napa or for those who want to sell a home in Napa Valley:
- • “Having been in sales all my adult life I feel I know a good honest salesperson when I come in contact with one… Judy Naimo is the best of the best… In the end everyone was very happy. both my wife and I and the buyers. Judy always strives for a win-win outcome. Could write about her all day. Truly the best of the best.”
- • “Judy was a perfect realtor–actually she went above and beyond her job, making sure the process went as smooth as possible as well as protecting us and our funds from being taken advantage… she is a A+++++++++ person to deal with…highly recommend her…After the sale of my home she is more like a friend than a realtor we still stay in touch. A+++++++++ to Judy Naimo”“
- • “Judy… took the time to show us properties that no one else would. In the beginning of our search other agents would not help us because of the loan type we were seeking. Without the blink of an eye Judy helped us with no questions asked. She was on our team from the start. Her client focused non-pressure style was refreshing. I always knew that she had our best interests in mind. I can’t give a higher recommendation. I look forward having her help us again in the future. “
- • “Judy worked very hard for us, letting us know what to do to our home to get the asking price we wanted…very well-educated in the sales of homes…very articulate as to what needs to be done… has a great people personality. I consider Judy Naimo a good friend after this experience. You can’t find any better.”
- • “Her grasp of the process and paperwork is phenomenal, she is just an excellent Realtor. She is always my recommendation to anyone who asks.”
- • ”Even though I thought I knew exactly what I wanted in a house, Judy encouraged me to keep open to possibilities… she was so helpful and patient, we… found the home for me… kind and thoughtful and so good at what she does…made the whole process easier to deal with. I would recommend her without a moments hesitation.”
- • “(Judy) helped me buy a home. She is a great person! Very trust worthy special for first time buyers. She explained everything thoroughly and made me feel comfortable. Thank you Judy!”
- • “… not until you are with her and work with her can you fully appreciate how much investment she makes in her clients. We felt she was 200% behind us… her expertise and her attention to our needs were very reassuring. Her successes in buying and in selling speak for themselves…We recommend her most highly.”
- • “..Judy was willing to show me homes at times that meshed with my schedule…Judy was tireless and patient in searching for a house that fit my needs and budget. Judy didn’t just find a house for me, she found my home.”
- • “Judy understood that we were not in a rush to buy and we needed to find the right home for our family and budget. She made herself available at all time. Easy to work with! ”
- • “Judy has an abundance of knowledge of properties…understands trends locally that affect price and opportunity. Her referral to a broker provided quick pre-approval with a competitive potential loan package… professional, tenacious and committed to her clients. I wholeheartedly recommend her.”
- • “I’ve known Judy for over 10 years. I rate her 5 stars out of a 5 stars. Why so high? Judy cares and has proven herself, not only in words but by her actions.”
- • “Judy Naimo knows the Napa Valley real estate market as a resident and realtor for over 30 years and can be trusted to give you the best advice in regards to your buying or selling decisions of property in the valley… extremely knowledgeable, trustworthy and pleasant to work with. If you are looking for a realtor for your transaction or someone else, I would strongly recommend Judy.”
[Mortgage rates are affected by a number of factors, as you will realize as you read through this article. There are "fuzzy" adjustments occur depending on the sources of loans, credit scores and % of down payment.]
The Federal Reserve's announcement Wednesday that it would reduce its bond-buying by $10 billion a month was seen generally as a moderate start to the highly anticipated taper. As such, mortgage rates, which follow bond yields, did not rise dramatically, as some had predicted.
"I was relieved by how the market has reacted so far and that we didn't see a sharp rise in interest rates as a result of the Fed telling us that they were going to start tapering," said Craig Strent, CEO of Apex Home Loans in Rockville, Md. "That certainly could have happened,"
The average rate on the conforming 30-year fixed mortgage has been at 4.57 percent since last week, according to Mortgage News Daily. But concern about the Fed's potential move may have been behind a sharp drop in weekly mortgage applications, down 5.5 percent week over week, to the lowest level in 12 years.
"Mortgage interest rates generally hate the idea of uncertainty, so this definitely brings some certainty in terms of the Fed showing their cards as far as the direction of rates," Strent said.
But that is not the end of the rate story by a long shot.
The Fed's move comes as Fannie Mae and Freddie Mac, which control two-thirds of the mortgage market, are practicing their own form of tapering. The government-owned entities announced late Monday that they are raising overall guarantee fees to lenders, as well as raising loan-level guarantee fees to lenders on loans where borrowers have good but not the best credit scores. These fees are passed on to borrowers.
"The new pricing continues the gradual progression towards more market-based prices, closer to the pricing one might expect to see if mortgage credit risk was borne solely by private capital," wrote Edward DeMarco, acting director of the Federal Housing Finance Agency, in a release earlier this month. "These changes should encourage further return of private capital to the mortgage market."
It is also an attempt to reduce Fannie and Freddie's own market share. The private mortgage market is still on life support, as very few lenders have returned since the credit crisis.
"Of the two announcements in the last 24 hours, by far the bigger ... was by Fannie Mae," said Christopher Meyer, a professor of real estate at Columbia Business School. "Particularly if you're a first-time homebuyer who's looking to put less than 20 percent down—you could see mortgage rates rise by as much as 4/10s of a percent.
(Read more: Homebuilder confidence ends year on high note)
Matthew Graham at Mortgage News Daily said that even though rates will surely rise as the Federal Reserve continues to curtail its monthly asset-buying, things will follow a certain trajectory in any event.
"A borrower with a 750 credit score and 15 percent down would likely get a rate of 4.625 percent now but will get closer to a 4.875 percent rate when the new loan pricing goes into effect in March," he said. "When the changes actually take place is a bit of a moving target, because different lenders will adjust their pricing at different times. Still, we can expect to see rates move up as early as January."
The housing market is finally finding its feet again. While sales have dipped in the fourth quarter, optimism—especially among homebuilders—is rising. Pent-up demand has some claiming that housing will rebound even more strongly in 2014, while others argue higher rates could change that.
"At a time when the market is fragile, this is going to discourage certain borrowers, who are now going to be paying higher rates as a result of these new adjustments," said Eric Egenhoefer, CEO of Wisconsin-based Waterstone Mortgage. "There will be unintended consequences here, and we are concerned about the effect on affordability for homebuyers."
There’s A Lot Of Pent-Up Demand for Real Estate in Napa Valley
Here is an update on the housing market in Napa Valley. All the reasons that existed before about why homeowners in Napa are moving still exist. Marriage, divorce, birth, death, job transfer, and tax planning are the reasons Napa home sellers are moving too. In other words, there is a constant supply of home sellers and home buyers. You may be curious to know what happens when the Napa housing inventory is the lowest it’s been since 2005.
Of course you realize that any time there is a shortage of a commodity the demand usually drives prices up. It’s not unusual then for some Napa home buyers to be asking themselves if they shouldn’t wait until there are more homes on the market. That is a logical consideration.
In addition to the extremely low inventory of homes for sale in Napa, mortgage loan interest rates are still incredibly low. In fact, mortgage interest rates are lower than they were in the 1970s. An important question Napa home buyers need to ask themselves is how their home purchasing power will be affected when interest rates go up ½%, 1%, or more.
Thinking about Buying a Napa home for sale?
Woulda, Coulda, Shoulda,
Buying a home in Napa is a big decision. Your family dynamics will undoubtedly dictate the right time to purchase a home. However, it’s important to consider this when you are planning.
Let’s imagine that a property appreciates about 12%; for example, the price of $350,000 goes up to $400,000.
Loan Amount of $350,000 at 3.5% at 4.0% at 4.5%
Monthly P & I payment $1571 $1670 $1773
Loan Amount of $400,000
Monthly P & I payment $1776 $1909 $2026
With the rates that prevailed at the end of 2013, a home mortgage payment would be $455 more a month with a rise of 1 % in the mortgage rate for a $400,000 mortgage. In short, keeping your eye on mortgage interest rates rising is as important as being concerned about the rise in home prices.
For More Helpful Information for Napa home buyers
You can request a HomeBuyers Guide in the right sidebar. In it you’ll find tips on Buying a home:
• The reasons why you should obtain a prequalified loan before you start looking for a home for sale in Napa
• Why it’s a good idea to get a mortgage loan consultant
• Fully understand what a FICO score is and the factors that affect it.
A Homesellers Guide is also available on request.
- • Learn the importance of a home inspection before you put your home up for sale
- • The factors that go into determining the asking price of a home
- • What is worth fixing or remodeling: Landscaping? Kitchen remodel? Entertainment center? Get the answers from Judy.
WHAT NAPA HOME OWNERS SHOULD KNOW
An Unexpected Expense
Study shows recent buyers find mortgage payments higher than expected. More here..
Another Source for a Down Payment
IRA is a source if you’re a first-time buyer. Get the details.
Record Improvements Now
Looks closely at the details of homes for sale by owner. Learn what improvements are tax-deductible.
Cut Your Housing Costs in Half
Learn what improvements are tax-deductible. Details are here.
Who Saves the Commission?
Looks closely at the details of homes for sale by owner. Click here.
Consideration Could be Key
Being considerate is a strong value when looking for a home to buy.Learn why..
The Question Every Cash Buyer Should Answer
Tax details about a future mortgage on a home purchased with cash. Click here..
On this website for Napa Valley real estate information, Judy intends to be a resource for whatever information you may need as a buyer or seller of a Napa home for sale as well as current homeowner. Weekly articles are added and then archived (under News) that focus on topics related to one or more these groups of people such are renting versus buying, winter maintenance tips, how personal finance affect what mortgage rate are available to you, etc. As a start, you can check out the archived materials through the sidebar under “Archives.”
You can read information created especially for the Home Buyer and for the Home Seller by making a request for the relevant guide or by reading the information filed under each category in the menu. And then checking the list of archived articles where there is even more.
As you may know, one of the services that help realtors and home buyers alike is the availability of MLS listing such as found here. The boxes at the top of this column provides access to MLS offerings in Napa and nearby communities.
Starting in January 2014 Judy moved her office to Coldwell Banker where she is happily providing her real estate services among people and in surroundings that she loves. Ever busy showing homes, making offerings, dealing with the closing process on homes, she still makes room for any new client who comes to her.
The quality of her services is always very high—she over-delivers because she knows how important a real estate investment is for many who still cherish the American dream of owning their own home. You can trust Judy because her personality is built on the value of caring for others.
While this website is intended to answer any question that you have about homes for sale in Napa, CA, the buying and selling process covers many related topics such as: personal finance, credit score, home mortgage, points related to mortgages, being pre-qualified for a home purchase with an approved mortgage loan in hand, home inspections, the role of a home appraisal, offers to buy a house for sale in Napa Valley, how to set a price for selling your Napa home, foreclosures, etc., you can save time by calling her at 707-266-8211 or emailing her: Judy@JudyNaimo.com.
Please realize that you don’t obligate yourself to Judy and her services when you call her with the questions that you have. Speaking to her on the phone or in person is the best way to make sure that all of your questions have been addressed. Too many of the public believe that the only time you contact a real estate agent or real estate broker is when you are ready to enter the housing market as a buyer or seller. No, you can have your questions answered before you even think about buying or selling a home.
THERE ARE MORE DETAILS: