Call Judy:(707) 266 8211, expert in Napa Valley real estate
- •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.
- •Follow me on Facebook and Twitter.
Recommendations for those looking for a home for sale in Napa or for those who want to sell a home in Napa Valley:
- • “The task of selling with the contingency to find a replacement property seemed daunting and complicated and Judy’s expertise and attention to detail was paramount in the successful closure of both escrows on the same day. She advised on the best way to present my house for the market and within 7 days of listing I had 3 offers, one of which I accepted. She then helped me find my replacement property, for which I had fairly specific criteria. The whole process could not have gone any smoother. I would highly recommend Judy for any real estate needs.” J. Mepham, 11-2014
- • “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’S COMMITMENT TO YOU
As you read below, you will understand why Judy Naimo is highly recommended:
“My commitment to you:
Purchase and sell real property quickly and profitably, with less disruption to your family.
Let’s develop a strategy together that:
• Suits your individual needs
• Reduces the chaos and confusion created in most real estate transactions
• Works extensively with you to negotiate a great price for your purchase
• Makes your home more appealing to buyers
• Analyzes rental inventory and financial opportunities
• Fits your long term goals
• Creates a plan to save you time, money and taxes
In 1968, mortgage rates were 8.5%. The next year, rates went down to 7%. Homeowners could buy a 15-20% larger home for the same payments if they could find someone to assume their mortgage.
FHA and VA mortgages were very popular in certain price ranges and they allowed anyone to assume the mortgage regardless of the credit. If you could find a person to take over your note, you were free to qualify for another mortgage.
In October 1981, mortgage rates reached 18.63%. A $250,000 mortgage had a monthly principal and interest payment of $3,896.46. As astronomical as that rate sounds, people were still buying homes and were good investments.
Four years later, they were still over 12%. The monthly payment was $2,571.53. Believe it or not, people were excited to be paying only 2/3 what they had to pay a few years earlier.
Fast forward to late 1991 when the rates went below 9% and that same payment was to $2,015.16. At the turn of the 21st century, rates were 8.15% and that made the payment $1,860.62. Not much change in rates during that decade.
If we look around the housing bubble, late 2008, the rates were 6.04% and the payment was $1,505.31. By 2009, mortgage rates had fallen below 5%. The lowest mortgage rate was 3.31% on November 2012 with a payment of $1,096.27.
Rates fluctuated for the next few years until now, and most of the experts are expecting them to be above 5% by the end of 2018. Rates have increased each week for the last six weeks to 4.38% with payments of $1,240.12.
The average mortgage rate for the past 47 years is a little over 8%. The real estate and mortgage markets are cyclical. Rates have been historically low for a long period but will probably continue to rise. Most buyers don’t pay cash and mortgages enable them to purchase now. Based on history, even 8% would be an excellent rate. Until it reaches that point again, everything lower is a bargain.
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.
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.
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 HOMEOWNERS SHOULD KNOW
ATM Safety Tips
All the precautions needed when using an ATM.
Eleventh Hour Gifts Without Shopping
The perfect gifts from the heart.
Now is the Time
The myth about the best time to sell.
Don’t Pat Yourself on the Back Just Yet
Why rentals are an excellent investment when you are looking at your retirement assets.
Lighting Conversion Plan
Details about converting bulbs for the conservation of energy.
Tips for home safety whenever you travel.
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.