Why Hire a Realtor?

There is so much information readily available online, and the big question is…Why should we hire a REALTOR® ?

A REALTOR® is a Client Advocate. Only members of the National Association  of Realtors can call themselves REALTORS®    realtor-logo

REALTORS® are Real Estate Specialists.

REALTORS® Lower Your Risk. When you have a Realtor as an advocate, you share some of the risk of home buying/selling with your agent.

REALTORS® Have Inventory. According to The National Association of Realtors , over four-fifths of existing homes in the U.S. are represented by real estate brokers.

REALTORS® Understand The Complexity Of The Transaction.

We’re all looking for more precious time in our lives, and hiring pros gives us that time.

Can you afford not to have the experience of a REALTOR®  by your side?

Sandy Flores

Sandy Flores                   Broker/Realtor                     (714) 963-7462    http://www.sandyflores.com

 

 

 

 

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Real Estate, Is it for Real?

HELOCs the next thing home credit product? Home prices, including distressed sales, rose year-over-year by 5.9% in March, according to data released Tuesday by CoreLogic.

The CoreLogic Home Price Index report found that March was the 37th consecutive month to feature year-over-year increases in home prices across the country. Month-to-month, home prices also rose by 2%, including distressed sales.

CoreLogic’s HPI Forecast estimated that prices will continue to increase month-to-month in April by 0.8% when including distressed sales and 0.7% without these properties

Mortgage rates fell!

Mortgage rates fell!

imagesCAE30UQZEconomic data affects rates by motivating investors to seek out or avoid risk. Higher demand means higher prices and lower rates.  Investors are looking for clarity on the Fed’s plans regarding raising rates, among other things.

From here on out, volatility becomes an increasing risk heading into the Fed’s Announcement next Wednesday. It can either work for or against us, but the point is that if it does work against us, the potential damage is bigger than normal.

Tienes un Préstamo HELOC? Informate!

Presta Atención si tienes un Préstamo HELOC a punto de reajustarse! Informarte de como puedes balancear esta linea de crédito HELOC para que no te afecte drásticamente en tus finanzas. Hay opciones y alternativas que puedes aplicar aun si tu balance hipotecario es superior al valor actual de tu propiedad!

Como siempre analiza tus finanzas, mantente informado de los opciones y programas que más te benefician y no te olvides de buscar ayuda professional. Preguntas??? Llámame 714-963-7462.  Sandy Flores…Liderando el camino a tu Casa Propia! www.sandyflores.com Sígueme en Twitter @SandyFloresRE

Save on your Mortgage NOW!

HELOCs the next thing home credit product? Mortgage rates are historically low, and many owners have the opportunity to take advantage, but not all owners pay close attention to these numbers.  

You have the opportunity to investigate the possibility of refinancing through HARP or stream line if your loan is FHA to take advantage of the historic rates.  

You can analyze  what financial options give you the best interest rate and  most convenient terms according to your personal situation, and you do this by comparing these rates from various financial institutions through the Good Faith Estimate. This simple action prompts banks to be more competitive and offer rates lower while they. 

Mortgage rates are closely linked to the action of the Federal Reserve – Fed and the economy, so it’s important that you analyze your financial situation to see if you could take advantage of the today historic rates, before they take off.     

Let me explain with numbers in this example:

Balance of   mortgage:  $ 200,000 –

§  Interest @6.5% Monthly Payment 1,440.                                           

§  Interest @3.75% Monthly Payment $ 1,014.                                           

§  Total Savings Monthly $ 426.                                                          

§  Total Savings Per Year $5,112.

§  30 Years Total Savings  $153.360.

Check your mortgage payments,  interest rate,  balance and the pending term of the life on your loan, so you can determine if refinancing is best for you. The Government Program HARP that does not require evaluation of the value of the property, conventional and FHA  Streamline Refinance are great choices to consider allowing substantial savings.

Don’t Miss It Out!

 

 

Boost Your Home’s Selling Price!

Boost Your Home’s Selling Price!

If you’re looking to sell your home for top dollar, in addition to “Location, Location, Location” there are some other suggestions you may benefit from, to get top dollar for your home!    child and father painting wall together

As the saying goes, “You don’t get a second chance to make a first impression.” While curb appeal gets buyers in the door, sellers who want to move their homes quickly need to take other steps.

The strategy varies by neighborhood and market conditions, but staging a house to appeal to the maximum number of buyers can make difference in how fast the home sells.

If you have a limited budget, here are some tips that can make your house to sell for a top dollar:

  • Add color to you landscape by either replacing flower beds or potted flowers, along with fresh sod.
  • Replacing light fixtures and plumbing fixtures will give your home a modern touch for a minimal investment.
  • Consider removing popcorn ceilings; however you need to be careful because popcorn ceilings of pre-1979 homes are likely to contain asbestos, and you need someone licensed to remove it.
  • Remove window treatments, unless they are current and high-end. That cuts the risk of turning off would-be buyers who don’t share your taste, and uncovered windows that will let more light into the rooms.
  • If you’re using your dining or a bedroom as an office for example, turn it back to their original use.
  • Replace dirty or worn carpet, you’re better off removing the carpet if there are hardwood floors underneath.
  • Unclutter your house by packing away items that you will not use on an every day basis. You want the new family to envision themselves living in the home.
  • A deep cleaning before you put your home on the market is a must, so everything shines.
  • Repaint all rooms in neutral colors. A fresh coat of paint also makes the house look newer and more modern.

With a few simple, low-cost tweaks, you can significantly enhance your house’s curb appeal. Focus on low cost improvements. Since every dollar counts, devote your time in renovations that’ll bring you a return.

HELOCs the next home credit product?

HELOCs the next home credit product?

HELOCs the next thing home credit product?

HELOCs the next thing home credit product?

Highest level of home equity loans since June 2009. A total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest level since the 12 months ending June 2009, according to RealtyTrac.

The report also shows HELOC originations accounted for 15.4% of all loan originations nationwide during the first eight months of 2014, the highest percentage since 2008.

“This recent rise in HELOC originations indicates that an increasing number of homeowners are gaining confidence in the strength of the housing recovery and, more importantly, have regained much of their home equity lost during the housing crisis,” said Daren Blomquist.

Among the nation’s 50 largest metropolitan statistical areas with HELOC data available, 49 posted year-over-year increases in HELOC originations in the 12 months ending in June 2014.

Metro areas with the biggest year-over-year increase in HELOC originations were Riverside-San Bernardino in Southern California (87.7% increase), Las Vegas (85.1% increase), Cincinnati (81.0% increase), Sacramento (65.1% increase), and Phoenix (60.1% increase).

Fannie Mae sets new rates effective October 14

Fannie Mae sets new rates effective October 14

Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program. Fannie Mae will raise its required interest rate for standard modifications from 4.375% to 4.5%.  The rate was lowered from 4.5% to 4.375% on Sept. 15, but will now rise again in one week. Fannie Mae announced the change on Tuesday in an email sent to its servicers.

When the program began in Jan. 2012, Fannie’s benchmark interest rate was 4.625%. Fannie lowered the interest rate to 4.25% in Sept. 2012, before dropping it to 4% on Dec. 1, 2012.

“Fannie Mae Standard Modification interest rate is not determined on a preset schedule,” Fannie said in the note to its servicers. “The interest rate is subject to periodic adjustments based on an evaluation of prevailing market conditions.”

Fannie also noted that any loan modification requests that were approved at the previous rate are not eligible to be resubmitted for approval under the new modification rule

Borrowers may now have a chance to build equity fast

Borrowers may now have a chance to build equity fast

Don't Get Left OutTwo major banks have agreed to originate a new 15-year mortgage under pilot programs aimed at low- and moderate-income borrowers.

In addition, the creators of the so-called Wealth Building Home Loan,   allows home buyers to build equity at a much faster clip than they would with a standard 30-year loan. Typically, the monthly payment on a 15-year loan is higher than that on a 30-year loan. But the loan amortizes much more quickly, meaning you build wealth — or equity — faster.

According to the latest Federal Reserve Survey of Consumer Finances, an owner’s net worth is 36 times greater than that of a renter. The survey found that the average owner’s net worth is $194,500, whereas a renter’s is $5,400.

 

Home sales show encouraging stats

Home sales show encouraging stats

Existing home sales, excluding distressed sales, are the most encouraging stats at the moment. These, according to Trulia and the National Association of Realtors, were 80 percent back to normal in August.

home-salesTrulia’s Bubble Watch also showed that prices were 3.4 percent undervalued in the third quarter, which is a marked improvement over the 13.5 percent undervaluation at the worst of the housing bust. That means prices are three-fourths of the way back to normal.

Delinquency and foreclosure rates also were much improved. According to Trulia and Black Knight, the national delinquency and foreclosure rate was 74 percent back to normal in August, the same as one quarter ago and up from 56 percent one year ago. The decline in defaults and foreclosures has helped stabilize the financial system and hard-hit neighborhoods.