Scott Vinson

07/04/2024

Campland Mission Bay, San Diego calif. Sofia, Alex, Dustin, Jackson, and Alexis.

07/03/2024

We be kickin back this 4th of July at Campland Mission Bay...

05/06/2023

05/06/2023

Got the RV ready for tomorrow's Jimmy Buffett Concert. If your a FB friend, look for the big RV with large USA Map on back. We'll get you a cold one or margarita.

11/04/2022

It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth.

Instead of buying a home and moving into it themselves, some young buyers are purchasing a home so they can use it as a rental. This tactic may be gaining popularity, at least in part, because of the affordability challenges brought about by today’s higher mortgage rates. The report above mentions how many people in this group are considering this approach. It says:

“Almost half of Millennials and Gen Z (43%) are considering buying an investment property compared to only 9% of Baby Boomers and 27% of Gen X.”

>>Why Younger Buyers Are Buying a Home To Use as a Rental

This strategy allows buyers to continue living in their current location, like the bustle of a city apartment or a neighborhood that they know and love, where they couldn’t afford to buy. But instead of giving up on the idea of owning a home, they buy a home in a more affordable area with the intention of renting it out.

In a way, they’re getting the best of both worlds. They live where they want, and they still own a home where they can afford it.

Their goal is to generate passive income and diversify their assets. It works like this: in addition to having a rental stream of income, the equity they build in their house will also help grow their net worth over time.

If you’re thinking about buying a home as an investment strategy to build your wealth, DM me to explore your options and nearby areas that may have homes that fit what you’re looking for.

11/01/2022

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter.

Here are just a few costs experts say you can expect.

>>1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. While each situation is different, there’s a common misconception that putting 20% down toward your purchase is required.

To understand your options, partner with a trusted real estate professional to go over the various loan types, down payment assistance programs, and what each one requires.

>>2. Closing Costs

Make sure you also budget for closing costs, which are a collection of fees and payments made to the various people involved in your transaction.

The best way to understand what you’ll need at the closing table is to work with a trusted lender. They can provide you with answers to the questions you might have.

>>3. Earnest Money Deposit

If you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD). An EMD is money you pay as a show of good faith when you make an offer on a house.

Keep in mind, an EMD isn’t required, and it doesn’t guarantee your offer will be accepted. It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your area.

Budgeting for your home purchase doesn’t have to be scary. DM me so you’ll have an expert on your side to answer any questions you have along the way.

10/21/2022

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market.

>>What Does This Inflection Point Mean for Buyers?

If you’re thinking of buying a home, you’ll have less competition and more options than you would have had last year. Enjoy having more homes to choose from in your home search and lean on a trusted real estate professional to understand how the increase in supply has also increased your negotiation power. That professional can talk you through the opportunities and challenges buyers face in today’s shifting market. You may be surprised to find they’re different than they were a year ago.

>>What Does This Inflection Point Mean for Sellers?

If you’re looking to sell your house, know that inventory is still low overall. That means, if you work with an agent to price your house based on current market value, it will still sell despite the inventory gains and moderating buyer demand this year. That’s because there are still buyers out there who want to move, and your house may be exactly what they’re looking for.

If you’re thinking of buying or selling a home, the best place to turn to for information on today's supply and demand is a trusted real estate professional. DM me so you know what’s happening in our local market and what that means for you.