Free Home Value Report Search For Homes

Happy Holidays From First Team Real Estate!


We want to wish you a very happy holiday season from all of us at First Team Real Estate!

Happy Holidays to you! We hope you enjoy this wonderful time of year and make some fantastic memories with your family and friends. We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us.

This may be a busy time of year, but we are always here to help and answer any questions you may have. Give us a call or send us an email. We would love to help you. In case we don’t hear from you soon, have a happy New Year!
No comments :
Labels:
Location: Mission Viejo, CA, USA

These 7 Tips Will Help You Save Money on Utility Bills This Winter


Here are a few choice tips you can use to make your home more energy-efficient this winter.

Winter is coming! If you want to save money on your heating bill when the cold season strikes in full, here are seven tips to help:

1. Hire a professional to do an energy audit. For between $200 and $600, an energy auditor will come to your home to assess the energy-efficiency of your home and provide a checklist of items you may want to fix before the winter starts in full. I’d be happy to refer you to one we know and trust; otherwise, you can find them on www.Homeadvisor.com.
 
2. Seal your walls. Your local hardware store should have a variety of caulks you can use to seal off any cracks in your walls that allow warm air to escape and cold air to seep inside.

3. Seal your light fixtures. Those who have recessed lighting might be surprised to learn about how much air can leak in through those fixtures. You can close off any gaps around your light fixtures simply by using electrical tape.
 
4. Fill in any insulation gaps. Check your attic for gaps in the insulation, as well as around your water faucets; both are prime places for heat to escape if they’re not properly insulated.

Those who have recessed lighting might be surprised to learn about how much air can leak in through those fixtures.

5. Check your heating system. Make sure your pilot light is lighting efficiently, change out your filters, and ensure that airflow through the system isn’t being blocked.
 
6. Insulate your windows. Purchasing double-paned windows will help with the cost and efficiency of heating your home.
 
7. Purchase a smart thermostat. Smart thermostats help set your home’s temperature when you’re sleeping or when you’re out of the house so that you’re not using too much energy when you don’t need it. Many brands have smartphone applications you can use to automate your thermostat. Nest and Smart Learning Nest are some of the more popular brands.

If you have any questions or would like more tips for making your home energy-efficient this winter, don’t hesitate to reach out to me. I’d love to help you.
No comments :
Labels:
Location: Mission Viejo, CA, USA

I Want to Wish You a Happy Thanksgiving!


I want to wish you and your family a happy Thanksgiving!

The Thanksgiving holiday is one of my favorite times of the year. I want to wish all of you a happy Thanksgiving! I’m thankful for the people in my life: friends, family, and coworkers. I hope you feel the same! If you are interested, there is an enjoyable event coming up in our area. The 42nd annual Orange County Turkey Trot is extremely entertaining, you can see more information here. Thank you very much for all of your support. I hope you have a safe and cheerful holiday!

If you have any questions concerning real estate, please reach out to me by phone or email. I would love to help you.
No comments :
Labels:
Location: Mission Viejo, CA, USA

2 Handy Financing Options for Investment Property Buyers


If you’re thinking of buying an investment property, here are a couple of handy financing options.

I have a client who’s looking to buy a duplex in San Clemente that’s priced slightly under $1 million. If you find yourself in a similar situation, what kind of financing should you use to purchase your property?

According to Dave Marzinky of Movement Mortgage, there are two options you should consider.

The first is conventional financing. The minimum down payment for this option is 15%. You can then use 75% of the gross rent of the other units to finance the purchase. The minimum FICO score needed for this loan is 620 but, as always, the better your credit score the better your financing terms will be. Since my client’s score is roughly 740, her interest rate will be in the 3% to 4% range.

The better your credit score the better your financing terms will be.

The second option is an FHA loan, whose minimum down payment amount is 3.5%.

In any case, passive income is a great way to build wealth, and with interest rates as low as they are, it’s a great time to buy an investment property. If this is something that interests you, don’t hesitate to reach out to me so I can help you get the ball rolling.

As always, if you have any other real estate questions, feel free to reach out to me as well. I’d love to help you.
No comments :
Labels:
Location: Mission Viejo, CA, USA

Holding Title in a Trust


As a buyer, you’re allowed to hold title in a trust, but you’ll need to provide your lender with certain documents.

A client of mine is in the middle of a home purchase and he wants to put the property in a trust. If you ever find yourself in a similar situation, can you hold title in a trust? Today I’m joined by Dave Marzinke of Movement Mortgage to answer this question. You definitely can, but there are a few documents you’ll need to provide to your lender. The first is a copy of the revocable trust. The second is a trust certification of attorney opinion letter. The latter is an outside document that certifies how the trust is set up, who’s a part of it, and how it’s recorded. Also, the certification has to be notarized. You can provide these documents after the offer is accepted if need be.

If you have any more questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.
No comments :
Labels:
Location: Mission Viejo, CA, USA

Everything Sellers Need to Know About Listing This Fall


Is selling this fall a good idea? Actually yes, and today I’ll explain why.

If you’ve thought about listing this fall but aren’t sure whether it’s a good time to do so, then I’ve got some good news.

Not only is buyer demand strong right now, but inventory is low, as well. This translates to lower competition (and the potential for a higher sales price) for those who do choose to list.
 
If these reasons weren’t enough, many buyers are also eager to find their next home before the holidays arrive. This sense of urgency only serves to further your leverage as a seller.

Today’s low inventory translates to lower competition (and the potential for a higher sales price) for those who do choose to list.

Those looking to upgrade their living situation by moving into a larger property (or one in a higher price point) are also at a particular advantage right now, as appreciation rates have jumped up by 5.2% this past year.

Of course, financial factors aren’t the only reasons you might want to make a move. Personal developments can be an equally strong incentive to sell. Whether it’s a marriage, a new job, the birth of a child, or anything else, selling your current home so that you can transition into another often comes along with these major life changes.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Mission Viejo, CA, USA

Reverse Mortgages Can Be Used in More Ways Than You Think


What can reverse mortgages be used for? Finance expert and reverse mortgage specialist Kevin Kaltenbach joined us recently to explain.

Today I’ve brought on finance expert Kevin Kaltenbach to discuss an important topic: reverse mortgages. As it happens, Kevin is a reverse mortgage specialist, so you’ll definitely want to hear his thoughts.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

0:05 - Introducing today’s topic: reverse mortgage options

0:52 - Kevin shares his advice for a client of mine who is considering a reverse mortgage

1:56 - How to refinance a home using a reverse mortgage

2:24 - Kevin dispels a few common misconceptions about reverse mortgages

4:19 - How to purchase a home using a reverse mortgage

6:44 - A few closing words

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
1 comment :
Labels:
Location: Mission Viejo, CA, USA

Key Advice for Future Real Estate Investors


Many of my clients are looking for investment properties, so today I’ll provide you all some tips about how to be a successful investor.

Since many of my clients are looking to become real estate investors, today I thought I’d share a few tips regarding what it takes to be successful if you make the decision to invest.

1. Know what it means to get a good deal. It’s not just about getting the right price; some people see a property with a low price and think of it as a great way to make money. Besides negotiating a good deal on price, you should also look at whether that property is located in an appreciating area. A good investment property is one located where there are jobs available, there’s a good rental market, and where the economy, in general, is on an incline.

2. Have an exit strategy. Just like with stock, when you’re going into a real estate investment, you want to buy low and sell high. If you intend to hold onto the property for one year, your plan should be different from one in which you plan to hold the property for, say, 20 years. Having a plan before you make the investment will help you think about important things such as whether the property will provide you with monthly cash flow or whether it will appreciate over longer periods of time. Your exit strategy will make sure that you’re buying the correct property per your goals.

A good investment property is one located where there are jobs available, there’s a good rental market, and where the economy, in general, is on an incline.

3. Have cash in reserves. If you’re doing a long-term investment, consider whether your property is a cash flow property and whether you will have enough cash to allow you to make improvements to it. Be sure to have a reserve of cash on hand so that you can handle any unexpected costs or make any necessary repairs or improvements to keep your tenants happy and your investment stable.

If you have any questions or comments about investing in real estate, please feel free to reach out to us. We look forward to hearing from you!
1 comment :
Labels:
Location: Mission Viejo, CA, USA

Should You Trust the Real Estate Numbers You Find Online?


In the information age, accuracy has become increasingly important. Here’s where you can find the most accurate information about your home’s value.

Homebuyers and home sellers can become very frustrated with some of the numbers that they see online. I get people asking me all the time about homes that actually aren’t available for sale. Some prospective buyers think that a property is available because of what they see online, but that information isn’t always accurate. Sites like Zillow, Trulia, and Realtor.com don’t get updated every day, or even every week in some cases.

On the other hand, my website pulls from the direct MLS feed every 15 minutes. By utilizing this kind of search site, you will get the most updated information available on the properties you’re looking at.

Double check any information you get with a professional.

Another thing you want to look out for as a seller is the estimates that these sites give you. Studies show that Zestimates from Zillow can be anywhere from 10% to 20% off. That’s a huge margin of error, especially in our market. Double check any information you get from a site like this with a professional like myself. I can come out to assess the true value of your home and determine a pricing strategy where we can get it sold in the shortest amount of time.

Finally, make sure that you’re pre-approved or pre-qualified for the properties that you're looking at online. Talk with a lender first. If you need a recommendation for a good local lender, I’d be glad to help out.

These are a few of the biggest pieces of information that you’ll likely want to get from a professional instead of from an online algorithm. If you have any questions for me in the meantime about buying a home, selling a home, or about real estate in general, don’t hesitate to give me a call or send me an email.
No comments :
Labels:
Location: Mission Viejo, CA, USA

How to Prepare to Move Out of State (or Out of the Country)


Relocation buyers must take a few extra steps when moving from one state (or one country) to the next, and this message will cover just a few of the most important.

Whenever a client relocates in or out of their current state, the real estate process can seem especially daunting. Thankfully, my team and I have got the resources and the connections to make your move from state to state go smoothly.

Take the example of my most recent client: a recent retiree who wanted to move somewhere with plenty of lakes and places to fish. While I’m tackling the sale of his current home here in Southern California, I’ve delegated the task of finding his next home to an agent I know in the area he’s searching. I leveraged my network to refer him to someone I knew would do a great job in helping him buy.

This story is great, but it’s just one of many. If you need to move out of state, I’d love to serve as your resource for referrals. On that note, I can also refer you to high-quality professional movers. After all, getting yourself from one home to the next is one thing, but moving all of your belongings is a whole different ball game.

Also, if you happen to have pets, it’s important to keep them in mind as you plan your move. This will be especially critical if you’re moving from, say, Hawaii, because there’s a high likelihood that your pets will be temporarily quarantined upon arrival. The key is doing your research beforehand so that you know exactly what to expect.

If you need to move out of state, I’d love to serve as your resource for referrals.

Speaking of research, out-of-state buyers must be aware of how the closing process varies between states, so be sure to work closely with a local Realtor as you navigate these all-important steps.

But what if your move isn’t just to somewhere out of state? What if you’re moving out of the country, instead? Obviously, buyers in this scenario will need to fulfill various legal requirements, like obtaining a Visa or other immigration-related documentation, in addition to the usual steps of the moving process.

Last (but absolutely not least) on the list of things relocation buyers must consider is childcare and education. Transitions like these can be a lot to handle for children, so if you’re moving as a family, don’t forget to research the relevant resources available in your new area. In short, a lot goes into moving from one state (or one country) to another. This kind of move can be quite complex, so having professional help will be a must.

If you have any other questions, would like more information about this topic, or are curious about how I can help you with your next move, feel free to get in touch with me or my team. We look forward to hearing from you soon.
1 comment :
Labels:
Location: Mission Viejo, CA, USA

The Fiscal Responsibilities of Owning a Pool


Owning a pool may offer some perks, but don’t forget to keep the associated expenses in mind before diving into this decision.

If owning a pool is one of your homeownership goals, you must be prepared for the associated costs.

Buying a home that already has a pool eliminates some expenses, but you’ll still need to budget for upkeep. Chlorine and saltwater pools both require regular maintenance, which will either involve cleaning them yourself or hiring someone to do it for you.

Opting to install a pool yourself also carries some challenges. Building a pool on your property will cost tens of thousands of dollars, and you’ll also need to secure a permit with your city.

Water bills, the cost of electricity to run the pump, and other similar expenses should be accounted for, as well.
 
These are a few items on the list. Here’s a list of a few more costs to consider.
  • Homeowners insurance premiums
  • Pool furniture
  • A heating system
  • Cracks and leaks
  • Will I get the cash back when I sell?

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Mission Viejo, CA, USA

5 Key Points to Know About the Home Inspection Process


For any buyer, the home inspection is a vital part of the purchase process. Here are the five points to understand and follow as you progress through it.

Any buyer in search of a home should be aware of how the inspection process will unfold when the time comes to make a purchase: Here are five key points.

1. Get a home inspection. It’s not enough to find just any old inspector—you’ll want to get one that’s certified. I have a list of long-established, certified inspectors I use that have kept up with state exams and who have made sure they operate with the latest standards.

2. Make sure the inspector is checking off all items on the evaluation. There are hundreds of items in this report and they go way beyond just matters of cosmetics—behind-the-scenes items such as the plumbing, electrical, AC units, etc., will be included as well. The inspection could take between two to four hours, but you’ll want to be present. This is your opportunity to ask questions and to make sure all the boxes have been ticked off the list in both the interior and exterior of the home.

The final walk-through is your chance to make sure that the house’s present condition is no different than how it was when you entered escrow.

3. Ask questions and ensure the specifics are covered. Above all else, you need the inspection to be clear and concise, leaving no room for ambiguity. The report will usually be compiled within 24 hours, and your real estate professional will go over the highlights of the inspection with you to make a judgment on what items need to be addressed, if any.

4. Negotiate items in need of repair with the seller. Who’s going to be fixing those items? The seller may pay for the repairs, they may agree to a credit, or you may forgo making a request from the seller altogether. Safety issues such as fire alarms and detectors should be addressed before closing. Remember: Because the inspector can’t subsequently be held liable, anything that isn’t identified during the initial inspection becomes your responsibility to deal with.

5. Do one last walk-through with your Realtor. This is your chance to make sure that the house’s present condition is no different than how it was when you entered escrow.
 
If you have any questions about today’s topic or anything else real estate-related, please reach out to me by call or text at 619-379-7664 or by email at KWSmith3443@Gmail.com. We look forward to hearing from you!
No comments :
Labels:
Location: Mission Viejo, CA, USA

2 Loans That Can Help Buyers Who Need to Sell First in Order to Buy


If you think you have to sell your current home in order to buy your next one, a bridge loan or a cross-collateralization loan can help you buy now without going through that process.

Recently, a client of mine who’s getting ready to put their home on the market found the home they want to purchase next. It’s a beautiful home and it’s exactly what they’re looking for, but when I made the call to the home’s listing agent to tell them about our offer, they told us the home already had two other offers.

My client’s original offer was contingent on the sale of their current home, but they didn’t want to let this opportunity pass by, so we elected to pursue a couple of alternative loan options that will allow them to buy the home now without needing to sell their current home first: the bridge loan and the cross-collateralization loan.

What are these loans? How can they help you if you’re in a similar situation as a buyer? Today I’ve brought in Jay Rodriguez of New American Funding to answer these questions for you.

With a bridge loan or a cross-collateralization loan, you won’t need to sell your current home first in order to buy your next one.

First, a bridge loan is a form of short-term financing that’s available on a single property. Essentially, it allows you to receive funds from a property you already own and repurpose it for, say, buying another home. Keep in mind that not every lender can offer a bridge loan, though.

A cross-collateralization loan allows you to buy a property while using one or more other properties you already own as collateral. This is especially helpful if your equity is tied up in the home you’re trying to sell. With this loan, you can put liens against both properties and leverage the equity of the property you already own to buy the new one without going through the hassle of selling it first.

If you have any more questions about these loan types, don’t hesitate to reach out to Jay or me. We’d love to help you.
No comments :
Labels:
Location: Orange County, CA, USA

How Last Year’s Changes Will Impact This Year’s Tax Season


As you know, tax laws changed in 2018. This means there are a few developments you’ll need to account for as you file this year, so we want to share a few key points with you today.

The holidays are over and we’re now approaching a much less jolly time of year: tax season.

As you prepare to file for your refund and pay this year’s taxes, you’ll need to be aware of these developments.
 
One key change is that the standard deduction has been increased to $12,000 for single people and $24,000 for married couples.

Depending on your income, your debt, the number of dependents you have, and a few other factors, this increase could either positively or negatively impact your circumstances.


To learn more about these changes and how they’ll impact you, reach out to a local tax professional.

Moving on, the mortgage interest deduction is now down from $1 million to $750,000. If you have $1 million in combined loans already, you will be grandfathered in. Otherwise, though, this change will apply.

Also, while homeowners were previously able to write off all state income taxes, you can now only write off up to $10,000.

We hope the information we’ve offered to you today has been helpful, but remember: We’re not tax professionals. To learn more about these changes and how they’ll impact you, reach out to a local professional who can guide you through these developments as they pertain to your circumstances.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
No comments :
Labels:
Location: Orange County, CA, USA

5 Reasons That Real Estate Transactions Fall Apart


Real estate deals fall apart for many different reasons. Here are five of the most common.

Real estate deals can fall apart for many different reasons. Here are a few of the most common:

1. The deal falls apart pre-contract. If a buyer likes a home a lot but lowballs their first offer, a lot of sellers will decide right then and there that they won’t accept the offer. However, keep in mind that a real estate professional should be able to guide you in making a fair offer.

2. The deal falls apart post-contract. The offer has been accepted at this point, but then maybe the buyer decides they don’t want to buy it anymore. It could be because of something found in the home inspection that you can’t come to an agreement on.

A contingent offer isn’t always acceptable to a seller.

3. Contingencies get in the way. Maybe the buyer is dead-set on selling their current home before buying the new home. A contingent offer isn’t always acceptable to sellers, because a lot of the time, it’s out of our control. If the buyer does have a good chance of closing on their home, you can feel better about it.

4. The buyer is denied financing. This is another automatic deal-killer. Maybe the buyer loses their job, has health issues, or made a large purchase before the loan was finalized. This could all lead to them not being able to get the financing they need.

5. The final inspection. I’ve seen this happen plenty of times before. A buyer will come in to look at a home on the final day before closing and find out that certain repairs were not completed properly or there is a structural issue that is uncovered.

These are just some of the reasons a deal may fall apart. If you have any questions for me about buying or selling a home, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Orange County, CA, USA

What’s in Store for Our Market in 2019?


To get a good sense of where our market is headed in 2019, I’ve made a slideshow presentation with all the latest numbers and trends.

What’s in store for buyers and sellers for the rest of 2019? In the video above, I’ve provided a comprehensive slideshow presentation with all the most important numbers to answer that question.

For your convenience, I’ve also provided timestamps of the presentation so you can skip ahead to the section(s) that interest you the most:

2019 Economic Forecast
  • 0:35 - The two things Realtors have been praying for 
  • 0:45 - Why our economy is our biggest strength 
  • 1:05 - Employment numbers and consumer confidence figures 
  • 1:18 - Inflation remains low  
  • 1:21 - The numbers from our 2018 financial markets 
  • 1:33 - Interest rate fluctuations and their impact on affordability 
  • 2:17 - Projected home price appreciation moving forward in 2019 
  • 2:29 - The difference in net worth between renters and homeowners aged 65+

The California Housing Market
  • 2:45 - Sales numbers and our rate of price growth from August 2017 to August 2018 
  • 3:06 - The peak price months of SoCal counties compared to August 2018 
  • 3:22 - Our growing rate of inventory 
  • 3:37 - Sales vs. active listings growth in different price ranges 
  • 3:41 - The average days on market from 2005 to 2018 
  • 3:45 - The number of listings with price reductions from 2010 to 2018 
  • 3:48 - Affordability for repeat buyers and first-time buyers 
  • 3:56 - Our share of international buyers  
  • 4:04 - The average length of time homeowners are owning homes 
  • 4:16 - The percentage of homeowners who choose renovating instead of buying 
  • 4:25 - The percentage of sellers moving out of California and where they’re moving to

Our 2019 Market Forecast
  • 4:50 - U.S. economic outlook 
  • 5:12 - California housing market outlook

As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.
No comments :
Labels:
Location: Orange County, CA, USA

4 Reasons Why You Shouldn’t Fear a Market Crash


Here’s why you shouldn’t be afraid of a market crash.

Here are the four reasons why you shouldn’t fear a market crash:

1. The economy is getting better. During the market crash of 2008, we found most homes were overleveraged, there was uncertainty in the market, and discounts were causing some neighborhoods to lower too far in price. There were 541,000 foreclosures. Now, we only have 216,000 foreclosures nationally—this may sound like a lot, but foreclosures are unavoidable, and we’ve more than halved the number.

2. Most homeowners now have equity. During the crash, people were taking out enormous amounts of equity for refinancing. In 2000, we only had $26 billion worth of refinances, but the crash saw over $321 billion worth. As of the third quarter of 2018, we only have about $38 billion. People are being more wary of refinancing and banks are having stricter policies.

These factors have greatly lowered the chances of experiencing a market crash.

3. Lending standards have changed. Since the crash, banks and the government have put tighter restrictions on how lending is to be done. NINJA loans (no income, no job or assets) have been pretty much eliminated.

4. Affordability has improved. Between 1985 and 2000, the monthly mortgage payment percentage was at 21%. In 2006, it hit 25.4%. Now, it’s at 17.5%.

These factors have greatly lowered the chances of experiencing a market crash anytime in the near future. If you have any questions or need more information, feel free to reach out to me. I look forward to hearing from you soon.
No comments :
Labels:
Location: Orange County, CA, USA

Are Homeowners Still Using Their Equity as Their Own Personal ATM?


Fortunately for our economy, homeowners aren’t still using their equity as their own personal ATM.

Are people still using the equity in their homes as their own personal ATM?

Back in 2006, the total amount of equity people were taking out of their home and using as a cash advance was $326 billion. Nowadays, though, the numbers show that people are more careful with how much equity they take out of their home and what they use that equity for.

This trend shows how much better our economy has gotten and why we won’t see a repeat of the 2007/2008 market crash.

Nationally, 48% of all homes have replenished 50% of their equity, and we currently only have about $70 billion that’s being used as cash refinancing. That’s a huge improvement—not only compared to 2006, but also compared to 2007 when the total was $240 billion.

Instead of purchasing RVs and paying for vacations, people are focusing on making home improvements. This trend shows how much better our economy has gotten and why we won’t see a repeat of the 2007/2008 market crash.

If you have any more questions about the state of our current market or you have any real estate needs I can help you with, don’t hesitate to reach out to me. I look forward to speaking to you.
No comments :
Labels:
Location: Orange County, CA, USA
Subscribe to: Posts ( Atom )