Pre-Approval Should Always Be Your First

November 6, 2017

Pre-Approval Should Always Be Your First Step
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out.
One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process.
Dustin Sanders of Home Financing, Inc. describes the “3 C’s” that help determine the amount you will be qualified to borrow:
Capacity: Your current and future ability to make your payments
Collateral: The home, or type of home, that you would like to purchase
Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Bottom Line:
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well. http://ow.ly/i/AehaN

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The #1 Reason to List Your House, NOW! T

November 1, 2017

The #1 Reason to List Your House, NOW!
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.
The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.
NAR’s Chief Economist Lawrence Yun had this to say,
“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.
Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)
The houses that are on the market are selling fast, too! According to NAR’s Realtors Confidence Index, the median number of days it took for a house to go from listed to under contract over the past three months was 34.
Bottom Line
If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!

ny questions feel free to contact me,
Juan Rodriguez 800 916 0366

#realty #realestate #realtor #broker #sales #Riverside #Ca #homes #properties #buyer #seller #leads #clients #forsale #homeowner #agent #purchase #shopping #best http://ow.ly/i/zSRxr

Check this out! Use it and share it! Any

October 31, 2017

Check this out! Use it and share it! Any questions feel free to contact me,
Juan Rodriguez 800 916 0366 #realtor #realestate #riverside #CA http://ow.ly/i/zSQ3G

The Cost of Renting vs. Buying a Home So

October 30, 2017

The Cost of Renting vs. Buying a Home
Some Highlights:
Historically, the choice between renting or buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year! http://ow.ly/i/zOqr4

Call it the mortgage merry-go-round: Par

October 27, 2017

Call it the mortgage merry-go-round: Parents refinance their home to fund the full cost of their son or daughter’s desired home. This allows the child to compete as a desirable all-cash buyer in an area where bidding wars are common. Then, when the purchase closes, the child refinances the new home and pays the parents back.

Sellers often prefer cash because transactions can close quickly without making a deal contingent on financing. This is particularly important in bidding wars: If the purchase price is above the list price and appraised value, it may be tricky to get a loan, said Kas Divband, a Washington, D.C., agent with Redfin. Mr. Divband said he has worked on six deals where the buyer was relying on a parent’s mortgage to make an all-cash offer.

The strategy is also evidence of how difficult it is for millennials getting into the housing market for starter homes, where competition is the fiercest. Even those with high-paying jobs and hefty down payments are losing out, particularly in cities with strong job markets for young people, such as Washington, Boston and Seattle, said Nela Richardson, Redfin’s chief economist.

Any questions feel free to contact me,
Juan Rodriguez 800 916 0366

#realty #realestate #realtor #broker #sales #Riverside #Ca #homes #properties #buyer #seller #leads #clients http://ow.ly/i/zKRKG

California’s five-year run of rising hom

October 26, 2017

California’s five-year run of rising home prices is expected to last another three to five years, with median house prices on track to beat the record highs set during the housing bubble, a Realtor economist said Thursday, Oct. 12.
The California Association of Realtors forecast home prices will increase an additional 4.2 percent in 2018, rising to $561,020. If the forecast proves accurate, that existing single-family home price will exceed the record high of $560,270 set in 2007. Prices, however, will remain well below pre-recession records when taking inflation into account.
Single-family home sales also are projected to increase in the state next year, but at a much more modest pace, the Realtor forecast said. CAR projected 426,200 houses will change hands, up 1 percent from this year’s level.
Overall, the gains in both house prices and sales are lower than in past years, perhaps signaling the California housing market’s “rate of acceleration has been slowing,” said CAR Chief Economist Leslie Appleton-Young.
Southern California home prices are expected to rise at roughly the same pace in 2018 and to match the statewide median, Appleton Young said.
The big mystery in the housing market, however, is why the pace of sales and price growth isn’t higher given that jobs and incomes have been rising. The answer lies in twin ills that have plagued the housing market for the past four years: Too few homes for sale and too few buyers able to afford those that are on the market at today’s prices.

Any questions feel free to contact me,
Juan Rodriguez 800 916 0366

#realty #realestate #realtor #broker #sales #Riverside #Ca #homes #properties #buyer #seller #leads #clients http://ow.ly/i/zKQsK

Check this out! Use it and share it! Any

October 25, 2017

Check this out! Use it and share it! Any questions feel free to contact me,
Juan Rodriguez 800 916 0366 #realtor #realestate #riverside #CA http://ow.ly/i/zGeWp

Moving-Up to a Luxury Home? Now’s the Ti

October 24, 2017

Moving-Up to a Luxury Home? Now’s the Time!
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.
The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell first.
In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”
Bottom Line:
The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.Moving-Up to a Luxury Home? Now’s the Time!
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.
The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell first.
In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”
Bottom Line:
The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

Any questions feel free to contact me,
Juan Rodriguez 800 916 0366

#realty #realestate #realtor #broker #sales #Riverside #Ca #homes #properties #buyer #seller #leads #clients http://ow.ly/i/zGeBc

4 Reasons to Sell This Fall Some Highlig

October 23, 2017

4 Reasons to Sell This Fall
Some Highlights:
Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available!
Housing inventory is still under the 6-month supply that is needed for a normal housing market.
Perhaps the time has come for you and your family to move on and start living the life you desire.

Any questions feel free to contact me,
Juan Rodriguez 800 916 0366

#realty #realestate #realtor #broker #sales #Riverside #Ca #homes #properties #buyer #seller #leads #clients http://ow.ly/i/zBHs3

Net Worth of Homeowners 44X Greater than

October 20, 2017

Net Worth of Homeowners 44X Greater than Renters
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.
The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a home is a great way to build family wealth
As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.
That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.
Greater equity in your home gives you options
If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process. http://ow.ly/i/zxBDA