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 By survey most renters think they cannot afford to buy because the mortgage payment is higher than a rent payment.  But the majority of renters would like to own.  Strange enough the majority of home purchases right now are by First Time Homebuyers.  Due to the crash in prices for properties and the extreme low rates the First Time Homebuyer is King of the Hill!

 It comes down to a math problem really.  Do you know what you qualify for?  It costs nothing to find that out.  Do you know what mortgage loan programs are available right now?  Are there any special First Time Homebuyer programs?  These are the questions you need to find answers to.  Maybe you do qualify, maybe the mortgage is as affordable as rent and maybe you can own.  The market hasn’t been this low is years.  Rates haven’t been this low is years. 

 Let’s go over the price of homes in Sonoma County.  You can buy for as little as $150,000.00.  But average is a little above $300,000.00.  These houses used to be 50% higher than they are now.  That $150,000 house used to sell for $300,000.  The $300,000 used to sell for $600,000.  There are 250 properties on the market right now priced at $250,000 or below.  There are 90 homes on the market priced between $251,000 and $300,000. 

 What is a payment on a home priced at $250,000?  With 10% down your loan amount would be $225,000.  At a rate of 4-1/2% the monthly payment would be $1,140.75.   On top of this you would owe for property taxes, insurance and PMI (private mortgage insurance – an additional $368).  AND you can deduct interest paid to your lender from your income tax.  Instead of paying the IRS you pay yourself!

 Now is the time to buy.  You might be surprised at what you can do about it!

Forest Tardibuono is a CA DRE Broker with over 20 years experience in real estate and lending.  His number is (707) 523-2099.  See website @ sunpacmortgage.com.


Wow, we are being hit by all sides these days.  The money market is in disarray, lay-offs are high, California hasn’t passed a budget.  Can it get any worse than this?  Why would anyone buy?

 It is being blared across the air waves that it’s as bad as the 1920s.  So, can/should you buy? 

Did you know that A LOT of people made money during that depression.  How?  They did not follow the pack.  This is very hard to do.  The best managers of money (Boone Pickens, Warren Buffet, and Bill Gates – for example) are a different breed of cat.  They seem to operate opposite of the crowd.  They buy when no one else is and they will freely tell you to do the same.  It takes a brave soul to not follow the crowd.

There are statistics that show things are not as bad as they seem.  In Sonoma County home sales are up – way up.  First time buyers can finally afford to buy and they are.  There are multiple offers on many homes.  Homebuyer loans are getting approved and people are moving into these homes.  There are not as many homes on the market as there were at the peak in November 2008, which will serve to drive the prices up.

 The moral of the story is – Buy Now!  If you have the required down payment (as low as 3.5%) and can afford the monthly payment (average $1,420 monthly) – do not wait.

 Look to the statistics of what is occurring in THIS market (Sonoma County, Marin County, etc…).  The statistics show a brisk market that is competitive and will only go up from here.

Forest Tardibuono is a CA DRE Broker with over 20 years experience in real estate and lending.  His number is (707) 523-2099.  See website @ sunpacmortgage.com.