Waiting for the right home? Don’t Wait Forever!

  • Happy House HuntingEveryone has a dream home, however there’s always something that we do not quite like in each house that we view. The key to finding the right home is setting realistic expectations.  Make a list of your dream features and amenities before you start house hunting, at the same be willing to let some of those features go once you start looking at properties. It helps to score each feature on a scale of 1 to 10 to really see what each home has to offer.Once you’re house hunting, it can be nearly impossible to decide when you’ve looked at enough houses. Keep in mind that if you view a lot of homes it may result on the chances of getting confused as to what actually you are looking for. It will be a good idea to make a list of each property’s strengths and weakness, like’s and don’ts, and then get ready to compromise.

    Set realistic expectations and look at more than a few houses, it’s time to start making some tough decisions. Just make sure you’re not compromising on something you’ll regret later.

    If you’re in a sellers’ market, homes can go quickly and you might just be missing the window of opportunity.

    Happy House Hunting!

     

     

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UP to $125,000. to Purchase your First Home?

Yes! There are programs to assist First Time Buyers to purchase a home.  These programs are available to homebuyers that have not owned/held interest in a principal residence in the past three years.

These  Programs provide First time buyers a differed 30 years second mortgage loan that vary from $40,000. and up to $125,000. depending on what  city you’re applying and  availability of funds. Funds are available until used up…First come First served!

For these  homeownership programs, applicants must complete a pre-purchase homebuyer counseling program.

All applicants must be pre-qualified with the pre-qualification lender assigned to the property if they are interested in purchasing. However their first mortgage can be from any lender as long as the loan meets program requirements.

This First Time Homebuyer Program is being funded by the U.S. Department of Housing & Urban Development HOME Program. GREAT time and BEST opportunity!

 

 

 

Housing affordability Keeps on Going!

Homeownership closer than ever!

Housing affordability is up nationwide due to low-interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB).

In addition to lower prices and interest rates, low-down payment programs offered by Fannie Mae and Freddie Mac is also helping creditworthy borrowers who cannot afford a large down payment   for a mortgage. These programs offer down payments as low as 3 percent for eligible first-time homebuyers.

Homeownership is the key of building wealth, since it is often a primary source of net worth and a step toward accumulating long-term personal financial assets.   It is not only limited to financial freedom but also building stronger communities and personal achievement.

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ARE YOU READY TO OWN A HOME?

ARE YOU READY TO OWN A HOME?

Home ownership means you no longer pay monthly rent for the roof over your head. buying-a-home11When you leave, you can sell it to recoup the purchase price and earn any profit that you may have accumulated through your appreciation in value.

But don’t kid yourself. Home ownership comes with a slew of disadvantages, responsibilities, and downright headaches. So before going any further, consider whether your lifestyle and finances make home buying a smart move for you.

Except in a roaring real estate market, it usually doesn’t make sense to buy a home you’ll stay for less than three or four years, because the cost of the process of buying and selling your property means that you could lose money  from your equity.   On the other hand, you will not pay capital gain taxes if you’re in the property for at least of 2 years.

One key question is whether it costs more, on average, to rent or own in your area. The rule of thumb is that if you pay 33% in rent than you would for owning  including the monthly mortgage, property taxes, and any homeowner’s fees,  then it’s smarter to own a home then renting it.

As always, get your finances in order before committing to buy a home, and stay informed of all the options, alternatives and programs that will fit your needs.

Get help, and call a Realtor…Call me  714-963-7462.   Leading your way home!

Home sales hit fastest rise in more than a year

Home sales hit fastest rise in more than a year

buying-a-home11Sales of existing-homes rose by 1.5% in October according to the National Association of Realtors (NAR). Last October previously-owned homes reached its highest annual pace of the year as buyers continue to be encouraged by interest rates at lows not seen for a long time.

This numbers also represents the first yearly gain since October 2013. The median existing-home prices posted as well an increase compared to October 2013. From the previous year, October’s median price of $208,300 was up 5.5%, marking the 32nd straight month of yearly improvement.

The National Association of Realtors tracks completed transactions of single family homes, townhomes, condominiums and co-ops each month, dubbing this group “existing-home sales.” As the housing market crashed back in 2008, NAR also began tracking the share of home sales that were distressed (foreclosures and short sales).

In October distressed home sales declined to 9% of the total, hitting the single digits for the third month in 2014. One year ago, distressed sales accounted for 14% of the market. Foreclosures account for 7%, and short sales 2% total average. The share of homes purchased for all-cash buyers in October accounted for 27%, compared to a 31% in October 2013.

First-time buyers remain a smaller slice of the market than the historic norm, at 29% in October for the fourth straight month. First-time buyers have represented less than 30% of the buyer pool in 18 of the past 19 months.

Inventory levels declined by 2.6% in October to a supply of 2.22 million existing-homes available for sale the lowest level since March, but 5.2% higher than a year ago, when there were only 2.11 million existing-homes for sale.

We still need an increment on housing inventory. However, Government-sponsored enterprise Freddie Mac has projected a 20% gain for inventory between 2014 and 2015, which will help supply. Let’s make it happen.

Murrieta Listing – Back on the Market!

Murrieta Listing – Back on the Market!

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Beautiful Home in a great community.  Open Floor plan with a large living room and dining area. Spacious family room with cozy fireplace. Lot of windows. Good 4 size bedrooms plus additional bonus room that can be used as studio, second family room  or , or even a 5th bedroom.  IMG_0478

Large and Open kitchen with lots of kitchen cabinets, center island and additional dining room area.  Backyard Is Private With Patio. Property is located On A Cul-De-Sac.  Close to Shopping centers, schools, parks and ez access to freeways.

Murrieta is a magnificent land blessed with verdant open spaces dotted with towering oak trees, sycamores, a valley of rich grasses and natural hot springs. The natural scenic beauty of the area and what is still by California standards reasonably priced housing continues to attract significant numbers of residents and businesses who are finding Murrieta a great place to grow. It’s a community with a past and vision for its future. One that welcomes challenges, takes risks, embraces opportunity.   Murrieta trailsguide

Click the following link to view the report:
http://mrmlsmatrix.com/Matrix/Public/EmailReport.aspx?ID=1252703662&k=3496717XWZF6

 

 

 

Why to check on your Interest Rate & APR

Why to check on your Interest Rate & APR

Financial institutions provide considerable information and guidance on mortgage loans and interest rates that apply to these. But it is you who makes the final decision for the best possible loan. Mortgage interest rates change constantly and daily, depending on various and diverse economic, national and international factors.

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The current national interest rate is generally published in various mass media such as the financial section of newspapers, websites, etc.  This information not only helps you know the current interest but also to analyze how interest presented by a certain time.

Keep in mind that,  your monthly payment will be reflected accordingly to the interest rate  you get on a home loan. Remember that these are the loan payments and do not include any other amount as is the property tax, homeowner’s insurance, loan insurance (PMI) if the payment is less engaging 20 percent of the value house, the cost of association if it is a condo, among others.

It is important to not confuse the effective rate of basic interest (Interest Rate) with the annual interest rate (APR), which is calculated according to the cost of your loan and not just the total amount of the amount financed, as in the interest for cash.  Ask if the interest rate is fixed or adjustable. Note that variable interest rates may increase and thus also their allowance.

However, the total cost of a mortgage includes more than just the basic rate of interest or effective. These costs include origination fees; discount points, miscellaneous expenses, etc. and other terms and conditions that could affect the final cost of your mortgage.  In most loans, lenders offer mortgages with several combinations of points and interest rates. Generally, the lower the interest rate, more points could pay before closing. Interest rates affect your monthly mortgage payment, while points affect the amount of cash that must be at closing.

Make sure to understand all terms of the mortgage you choose, so you do not get surprises along the way.  Mortgages are complex financial transactions, and lenders are committed to explain the pros and cons to homebuyers about the various programs and interest rates they offer.

Are You Deciding to Purchase Property?

Are You Deciding to Purchase Property?

Are You Deciding to Purchase Property?

By Sandy Flores

Special to Excelsior

Is there any reason for you not to buy a house? We all need a place to live and what better be a property. The main question is whether this is the best.

Most buyers always have doubts, not only about whether this is a good time to buy your own home, but also on whether they meet the requirements to do so, plus if the area is accessible to their places of work, schools, shopping establishments, freeways, among others.

blog25Another point is that a lot of consideration in addition to that you can qualify to purchase your home, you will want to know if payments will be at a level with which you feel financially secure and comfortable to be performed. Renting a property is always going to be an expense that ultimately will not produce any benefit in terms of financial investment concerns. Instead of buying a house it is a better investment.

Today we are experiencing a market and rapidly changing real estate. However, if you are people who prefer to delay the purchase of your own home just to see how the market goes, it’s almost hard to know how long you have to wait because it is impossible to determine precisely when these changes will occur and how. Even if you are in an area with declining prices in the market, even the most knowledgeable experts can reliably and accurately predict the “future” of a real estate market.

If you are renting is wasting seen that many of the benefits that are accompanied with the purchase of your own home. We could list many advantages, but the important thing is that in this market of real estate are experiencing an increase in the number of homes for sale, as well as incentives from some homeowners by providing partial or total help with the costs of paperwork to contribute to the buyer at their purchase cost.

The crucial factor is that prices have declined by about 30 percent compared to previous months. Interest rates are affordable and if you want to wait, there is a chance that they could go up, meaning that if the result goes your monthly interest will also be higher.

Really the best time to buy is determined by you based on all the factors that are currently experiencing. Buying a house has been and remains a good investment especially if you are well informed of their options, alternatives and obligations to perform it.

Buying a home is generally the easiest way to accumulate profit. You could say that three out of four people have more equity in your home that assets in retirement plans, mutual funds and savings through equity if they have not taken short term or through a refinancing.

Although no one can guarantee that your property rise in value or appreciate a specified period, usually observed positive long-term changes.

In general, a large number of homes for sale (normal sale, short sales and foreclosures by the bank, etc.) at much lower prices than in previous months, it’s good to stop and think and consider purchasing your house.

Get all the information you can to be more informed and also consider the help of a professional with experience in assisting first time buyers who can guide for detailed step by step on this very important process that is buying your first home.

Remember, the more guidance and information you have, the more confident you’ll make your home buying experience a pleasant and successful and financially successful.