With summer in full swing, the California Real Estate market is seeing an abundance of activity.  While this is great news for the recovering market; it also means that home prices are on the rise!

As this chart points out, within the last year, out of the the nations top seven metros with the largest increase in median asking price; six of them are in California!

This signifies great recovery and means that if you’re hoping to buy a home on Lake Nacimiento; now is the perfect time to do so!  While you don’t want to rush such an important financial decision, waiting will only give room for home prices to continue to increase.

If you’ve been out of the real estate market for some time, or want a quick refresher on what it takes to buy a home, we thought it’d be helpful to point out the nine essential steps of the home buying process.  Take a look!

1. Check Your Credit Score– Lenders will put a lot of weight on your credit score, so you want to make sure to have your credit in order. They will determine how much you qualify for in a mortgage based heavily on your credit.

2. Set Your Housing Budget– Have a clear understanding of your budget each month.  This includes your interest, principal, homeowners insurance and taxes. You’ll also want to calculate in any travel costs to your vacation home and the cost of furniture.  You don’t want to put yourself in a financial bind that you are constantly struggling to maintain each month.

3. Meet with a Lender– It is easy to want to begin searching online for your Lake Nacimiento home, but without a sense of how much you qualify for; it’s easy to waste time looking at homes you might not be able to afford. Meet with a lender before you begin looking at homes and get pre-qualified. You’ll be able to search more effectively online, as well as when you begin working with a Lake Nacimiento Real Estate agent to find a home.

4. Find a Reputable Lake Nacimiento Real Estate Agent– You’ll want to find a real estate agent who has experience in the local market.  An agent who has years of experience in the area will be a great asset in helping you find an Oak Shores or Heritage Ranch home that best fits your needs and lifestyle.

5. Narrow Your Priorities– You’ll want to make two separate lists based on your needs and wants. Your needs should be those things you absolutely need in your vacation home. Your wants will be those items that you would prefer, but are willing to compromise on. Narrowing down and sorting out your needs and wants will help immensely when searching for a home. You’ll have a clear picture on what you are willing to compromise on, since you will most likely not find a home that has absolutely everything you would like. Know when to give and when to stand firm. You’ll quickly narrow down your home search this way!

6. Choose a Location– You’ll want to determine whether the Oak Shores or Heritage Ranch community is the right fit for you.  Also, think through whether you want a lakefront home, a home with a lake view or if inland is what you prefer.

7. Make a Reasonable Offer– Your real estate agent will be able to give you a list of comparable homes in the area, and can help you determine an offer that is fair for the market.

8. Have a Home Inspection– This is very important! Even if the home looks perfect inside and out; there is no way of knowing what issues there may be without a home inspection. You don’t want to buy a home only to find that it needs the roof replaced or there is water damage. Having the home thoroughly inspected allows you to know exactly what you can expect in the home you buy.

9. Finalize the Details– Once the contract is signed; you’ll still want to stay in touch with your Lake Nacimiento Real Estate agent and lender. There are always last minute finalizations that need to be made.

If you have questions over any of these steps, or are ready to begin your Lake Nacimiento home search; I would enjoy talking with you!  Feel free to contact me today to get started!

Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty

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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.

Please let us know how we can help!