Realtor®

How to Plan the Ultimate Staycation After Listing Your Home

How to Plan the Ultimate Staycation After Listing Your Home

by | Feb 17, 2022 | Uncategorized

So you just listed your home and you have a lot of potential buyers – yay! Now is the perfect excuse to plan a staycation. Alternatively, renting an AirBnB or hotel locally can be easier than constantly switching your schedule around for showings… and more fun!    Set a budget. First create a budget of what you are willing to spend. List your priorities then figure out how much you’re willing to spend.    Plan what you want to do. Luckily here in Southern California, there are a ton of things to do. Amusement parks, beaches, mountains, and wine countries are all a hop, skip, and jump away. Research what’s nearby you and make a priority list of what you would like to do. Here are some ideas: family movie night, spa day, local theater production, local game night, guided tour, fancy dinner   Use online resources. Scour through Groupon and see if you can find any local discount deals or promotions happening in the area.    Create an itinerary. Now that you have an idea of what you would like to do, create a schedule to make sure you can fit everything in!      Book a room. Although for staycations the idea is to stay home, if there are many showings scheduled, you might want to get a room. Find a local hotel room or AirBnB near you and close by to the planned activities for easier accessibility. Maybe access your credit card points to reserve cash for your move? Be a tourist. Treat this like any other vacation. Explore places you’ve never been before. Eat at...

5 Mortgage Misconceptions

by | Feb 10, 2022 | Uncategorized

There are plenty of misconceptions when it comes to securing a loan for your home. Below are the top 5 myths about getting a mortgage.  Myth: You need 20% down to buy a home    Larger down payments have advantages, such as better interest rates and avoiding Private Mortgage Insurance (PMI). However, having 20% is not a requirement for securing a home loan. Mortgage brokers and lenders prefer 20% down since it lowers their lending risk.    According to the National Association of Realtors, the average down payment on condos was 12%. For homeowners under age 30, the average sits at 6%. If you qualify for government-backed loans your required down payment will be even lower. FHA requires only 3.5% and VA-backed loans require no down payment at all.    Myth: Pre-qualification is the same thing as pre-approval    During a mortgage pre-qualification, a borrower answers questions regarding their financial situation. In order to be pre-approved, the lender must verify the information that the borrower has provided. In case false information arises, most sellers (and agents) will require a pre-approval over a pre-qualification letter from the lender.    Myth: You need perfect credit to get a mortgage    Credit is only one of the many things lenders look for when determining if you qualify for a home loan. They also look out for debt-to-ratio income, down payment, income, and savings.    There are programs and loans for borrowers with lower credit scores. Loans backed by FHA only require a score of 580 and most conventional loans require 620.   Myth: A 30-year fixed rate mortgage is always the best...

Prop 19: Transferring Your Property Tax Basis

by | Feb 3, 2022 | Uncategorized

What is Prop 19? Proposition 19 changed the rules for tax assessment transfers. In California, eligible homeowners could transfer their tax assessments to a different home of the same or lesser market value, which allowed them to move without paying higher property taxes. What are the new rules?   Homeowners over the age of 55 may transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment. Previously the replacement home had to be less expensive and located within certain cooperating counties. The number of times that eligible homeowners may utilize this benefit is three times. Previously it was only one. Homes which are inherited and not used as principal residences will be reassessed at market value when transferred. Previously properties could be passed down to heirs without triggering a tax reassessment. Additional revenue or net savings resulting from the ballot measure to be directed to wildfire agencies and counties.   Are you considering making a move? Let’s have a strategy conversation!...

Hazardous Waste Disposal – LA County

by | Jan 27, 2022 | Uncategorized

Do you have hazardous waste or e-waste you need to get rid of?  Here is a resources list to help you dispose of any hazardous waste or e-waste in Los Angeles County and Pasadena.  Photo courtesy of LASAN Los Angeles County: LADWP Hazardous Waste Collection Program: Load up any hazardous waste in your trunk or the bed of your truck and drive it to one of these collection events to properly dispose of these items.  LADWP permanent collection sites for drop off: Another convenient and free way to dispose of hazardous material and e-waste is by dropping the items off at any of these permanent sites in Los Angeles county. Most of these sites are operable on Saturday and Sundays from 9am-3pm.  Here is an information sheet from L.A. Sanitization on S.A.F.E collection centers and items accepted.  E-waste collection may be picked up by calling 1-800-773-2489 or selecting Electronic Waste in the MyLA311 app.  Recycle paint: You can drop off paint at local retail stores. Here is a tool to help you find drop-off locations near you.  Los Angeles County Materials Exchange: If you have usable electronics,  list them on the LACoMAX online materials exchange site. Alternatively, you can donate usable electronics to Goodwill, Salvation Army, or Habitat for Humanity.  Battery disposal: Here is a directory of places to drop off old batteries.  Used motor oil: Click here for used motor oil collection centers.  LA County Public Works: Click here for LA County’s environmental links. Photo courtesy of LASAN Pasadena:  Los Angeles-Glendale S.A.F.E Center: 4600 Colorado Blvd, Los Angeles, CA 90039 Saturday and Sunday 9am-3pm  Accepted items South Pasadena’s...

Budget-Friendly Home-Buying and Moving Tips for Pasadena, CA Parents

by | Jan 11, 2022 | Uncategorized

Image via Pexels Budget-Friendly Home-Buying and Moving Tips for Pasadena, CA Parents Guest article provided by Emily Graham Purchasing a home and moving is typically challenging, as well as expensive. If you’re a Pasadena, CA parent looking to keep the cost down, here are some budget-friendly home-buying and moving tips that can help, presented by Realtor Kathy Gibson. Budget-Friendly Home-Buying Tips for Pasadena, CA Parents Don’t Assume That Your Pre-Approval Amount is Affordable When you get pre-approved for a mortgage, it’s easy to assume that the amount you’re allowed to borrow should be affordable. In reality, a pre-approval doesn’t mean the payment that comes with that loan aligns with your budget. It doesn’t include certain costs that come with buying a home, including homeowner’s insurance, property taxes, maintenance expenses, and other costs. Don’t default to the pre-approved amount if you need to make a budget-friendly home purchase. Instead, break down all of the costs that come with the new home, allowing you to determine what you can genuinely afford. Then, use that as a guide. Know Your Priorities In some cases, getting everything you want in a home isn’t going to align with your budget. By knowing your priorities, you can focus on homes that address your actual needs first. When you outline your priorities, be honest about what’s a genuine need and what’s actually a want. Your needs should only include features you can’t live without, while everything else should be a want instead. Once you’ve done that, order your needs and wants based on desirability. Again, this helps you get a clear target for your home search,...

Housing Market Trends: 2022 Predictions

by | Dec 22, 2021 | Uncategorized

As supply declines in the housing market, it is expected that property prices will increase resulting in the slow down of sales in 2022. Transactions will still be at the second highest level in the past five years. The 2022 California median home price is forecast to increase by 5.2 percent to $834,400, compared to the 2021 median home price of $793,100. Home sales are expected to decline to 416,800 units from the 2021 sales figure of 439,800.   Low supply will put upward pressure on prices, but higher interest rates will likely suppress median price growth. Demand for housing in more affordable areas will increase as remote working continues to popularize, preventing the California median home price from rising too quickly.   “A slight decline next year from the torrid sales pace of the past year-and-a-half will be a welcome relief to potential homebuyers who have been pushed out of the market due to high market competition and an extremely low level of homes available for sale,” said C.A.R. President Dave Walsh. “Motivated buyers will have more inventory to choose from. They will also benefit from a favorable lending environment, with the average 30-year fixed rate mortgage remaining below 3.5 percent for most of next year.”   What Experts are Saying “Home sales will notch lower by 2% in 2022, principally because of higher mortgage rates. Home sales will not crash thanks to job gains, investor demand and the work-from-home reshuffle in residential location choice.” – Lawrence Yun, Chief Economist, N.A.R.   “Demand will continue to be driven by low mortgage rates and demographics. Consider that the largest...