Ted Mackel

Ted Mackel Speaks Out on Real Estate in a Mobile Techonolgy World

(October 2009 – San Jose, CA) Last fall is chosen to sit on the main panel with Executive Vice President Joel Singer and talk about how the Internet and technology is impacting the real estate industry. The discussion covered twitter, Facebook, websites, Internet property searches, online habits of home buyers and importance of the real estate industry to keep up with the changing needs of home buyers and home sellers in a mobile Internet age. Again this fall (2010) in Anaheim I will be presenting in one of the breakout sessions on similar topics. If your organization or association of Realtors would like me to present, please check out my Speaking & Training section my blog for more information.

Facts Simi Valley Moorpark Home Sellers Need to Know

Planing on selling your Simi Valley or Moorpark home? This table was create so you could get an idea of who the buyers for your Simi Valley or Moorpark property are and what they can afford. The taxes and insurance are based on homes in the Ventura County – Simi Valley Area. Insurance rates may vary due to different conditions i.e. flooding.

Table 1

Purchase Price	20% Down Payment	Interest Rate	Monthly Payment	Monthly Taxes & Ins.	Yearly income needed to qualify

$300,000	$60,000	6.25%	$1,477.72	$400.00	$91,200
$400,000	$80,000	6.25%	$1,970.30	$500.00	$106,000
$500,000	$100,000	6.25%	$2,462.87	$600.00	$122,000
$600,000	$120,000	6.25%	$2,955.44	$700.00	$138,000
$700,000	$140,000	6.25%	$3,448.02	$825.00	$154,000
$800,000	$160,000	6.25%	$3,940.59	$930.00	$171,000
$900,000	$180,000	6.25%	$4,433.16	$1,040.00	$189,000
$1,000,000	$200,000	6.25%	$4,925.74	$1,155.00	$204,000

Table 2

Purchase Price	20% Down Payment	Interest Rate	Monthly Payment	Monthly Taxes & Ins.	Yearly income needed to qualify

$300,000	$60,000	5.50%	$1,362.69	$400.00	$88,000
$400,000	$80,000	5.50%	$1,816.92	$500.00	$103,200
$500,000	$100,000	5.50%	$2,271.16	$600.00	$117,600
$600,000	$120,000	5.50%	$2,725.39	$700.00	$133,200
$700,000	$140,000	5.50%	$3,179.62	$825.00	$150,000
$800,000	$160,000	5.50%	$3,633.85	$930.00	$162,000
$900,000	$180,000	5.50%	$4,088.08	$1,040.00	$177,000
$1,000,000	$200,000	5.50%	$4,542.31	$1,155.00	$193,000

Certain assumptions are made in the above tables. The above are estimates and are not to be considered as actual. The above information is deemed reliable but not guaranteed.

Before commenting that the new conforming rate is now $729,000 and the Buyers will only need 3% down under FHA guidelines, it is still obvious what kind of income will be need and how large the monthly payment will be required. The above 20% down tables will not require mortgage insurance.