Inland Empire and Los Angeles County Real Estate Center

10/05/2023

Are You a Homebuyer Worried About Climate Risks?

The increasing effects of natural disasters are leading to new obstacles in residential real estate. As a recent article from CoreLogic explains:

“As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.”

Expert Advice for Homebuyers To Reduce Climate Risks

The first thing to do is understand how to go about buying a home while thinking about climate risks. With the right help and resources, you can simplify the process.

The Mortgage Reports provides these tips for buying your next home:

• Evaluate climate risks
• Consider future preventative maintenance costs
• Take steps to avoid losing your assets

Above all else, your most valuable resource during this process is a trusted real...

The increasing effects of natural disasters are leading to new obstacles in residential real estate.

09/06/2023

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07/04/2023

Americans Still View Homeownership as the American Dream

Everyone’s interpretation of the American Dream is unique and personal. But, for many people it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide.

A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owning a home is still important to so many Americans today as homeownership ranks above other significant milestones, including retirement, having a successful career, and earning a college degree.

A recent report from MYND helps shed light on why so many people value homeownership. It finds, “. . . nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”

To further drive home the difference homeownership can make in your life, a report from Fannie Mae says, “Most consumers...

Everyone’s interpretation of the American Dream is unique and personal.

07/03/2023

Evaluating Your Wants and Needs as a Homebuyer Matters More Today

When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. Mortgage rates impact how much it costs to borrow money for your home loan. And, to help offset the higher borrowing costs today, some homebuyers are taking a close look at their wish list and re-evaluating what features they really need in their next home to avoid overextending.

So, if you’re looking to buy a home, take some time to consider what’s truly essential for you in your next house. Make a list of all the features you’ll want to see, and from there, work to break those features into categories. Here’s a great way to organize your list:

>>Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).

>>Nice-To-Haves – These ar...

When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic.

07/02/2023

Your credit score is important when it comes to qualifying for a home loan. While it doesn’t have to be perfect, typically speaking, the higher the score, the lower the mortgage rate and the better the terms you’ll qualify for. A lender can walk you through the specifics. But, if you’re getting ready to buy a home, reach out to me for more tips on the homebuying process.

07/02/2023

Less Equity Doesn’t Mean Low Equity

Less equity doesn’t mean low equity – don’t let the negative headlines hold you back. Let’s connect if you’re looking to make a move.

06/30/2023

Key Reasons To Use a Real Estate Agent When You Sell [INFOGRAPHIC]

An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process. They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed at the contracts and disclosures involved. DM me to ensure you have an expert helping you sell your house successfully.

An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process.

06/29/2023

Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You're not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory.

That means when you go to put your house on the market this summer, considering newly built homes is crucial for expanding the options you’ll have for your next move.

Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), highlights the importance of newly built homes for those looking to buy in today’s housing market. Dietz states, "With limited available housing inventory, new construction will continue to be a significant part of prospective buyers' search in the quarters ahead."

Don’t overlook this growing market se...

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market?

06/28/2023

Lending Standards Are Not Like They Were Leading Up to the Crash

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it.

Every month, the Mortgage Bankers Association releases the Mortgage Credit Availability Index. According to their website, “The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”

Basically, the index determines how easy it is to get a mortgage. In 2004, the index was around 400. But, by 2006, it had gone up to over 850. Today, the story is quite different. Since the crash, the index went down because lending standards got tighter, so today it’s harder...

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008.

06/27/2023

Why Homeownership Wins in the Long Run

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.

Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents say they believe buying a home is a safe investment.

Here’s a look at how just the home price appreciation piece can really add up over the years.

If you look at the percent change in home prices according t...

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year?

06/26/2023

The True Cost of Selling Your House on Your Own

In a new report, NAR surveyed homeowners who’d recently sold their own homes and asked what difficulties they faced. Those sellers say some of the greatest challenges were prepping their home for sale, pricing it right, and properly managing the required paperwork, just to name a few.

When it comes to selling your most valuable asset, consider the invaluable support that a real estate agent can provide. By partnering with an agent, you can navigate the complexities of the selling process with confidence. Here are just a few of the many ways an agent is essential to your home sale:

>>Marketing and Exposure
If you sell on your own, you may struggle to match the reach of agents, resulting in limited exposure and, ultimately, fewer potential buyers.

>>Managing Liability and Legal Considerations
Real estate agents are well-versed in the contracts, disclosures, and regulations n...

Selling your house is no simple task.

06/25/2023

Your mortgage pre-approval is an important first step in your homebuying journey. By getting pre-approved you’ll know what you can borrow for your home loan and you’ll be able to show sellers you’re serious about purchasing their house. DM me any questions you have about how to get started on your path to homeownership.

06/25/2023

Why You Need a Real Estate Agent When Selling Your House

Thinking of selling your house? Let’s connect so you can save time and stress when selling your house this year.

06/23/2023

Homeownership Helps Protect You from Inflation [INFOGRAPHIC]

Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady. Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months. Especially when inflation is up, having a stable housing payment can be helpful. Let’s connect so you can learn more and start your journey to owning a home today.

Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.

06/22/2023

What Homebuyers Need To Know About Credit Scores

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains, “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today. Working with a trusted lender’s the best way to get more information on how your credit score...

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan.

06/21/2023

Eco-Friendly, Energy-Efficient Homes Attract Buyers

NAR shows 48% of agents or brokers have noticed consumers are interested in sustainability. If you want to upgrade your house in a way that maximizes its green appeal, you need to work with a local agent to understand what buyers in your area are looking for. The same NAR report identifies the following green home features as most important to buyers at a national level:

>>Windows, doors, and siding
>>Proximity to frequently visited places
>>A comfortable living space
>>A home’s utility bills and operating costs
While you can’t change the location of your house, you can take action to make sure it’s as comfortable as possible while also setting up the next owners for lower operating costs. ENERGY STAR shares some suggested upgrades as ones that may be worth considering:

>>Heating and cooling
>>Water heater
>>Smart thermostat
>>Attic insulation
>>Energy-efficient windows...

Are you planning to sell your house?

06/20/2023

Why the Median Home Price Is Meaningless in Today’s Market

NAR will release their latest EHS report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner.

So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report. NAR reports on the median sales price, while some other sources use repeat sales prices. Here’s how those approaches differ.

WSU explains median prices like this: “The median sale price measures the ‘middle’ price of homes that sold, meaning that half of the homes sold for a higher price and half sold for less . . ....

The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week.

06/19/2023

Saving for a Down Payment? Here’s What You Need To Know.

If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As NAR notes, “One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”

And a recent Freddie Mac survey finds, “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.”

Here’s the good news. Unless specified by your loan type or lender, it’s typically not required to put 20% down....

If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase.

06/18/2023

Don’t play guessing games with your home’s asking price. If you price your house too high or too low, you’re potentially deterring buyers. That’s why pricing your house appropriately for today’s market is so crucial. I know our local market inside and out and can help you set the right price. Don’t risk leaving money on the table – DM me now, and let’s get your house sold.

06/18/2023

Things To Avoid After Applying for a Mortgage

Make sure you’re in the best position when you get to the closing table. Let’s connect so you can learn more about the homebuying process.

06/16/2023

How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]

If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership. Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years. That means your net worth can grow significantly in the long-term when you own a home. DM me so you can start your homebuying journey today.

If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.

06/15/2023

Why Buying or Selling a Home Helps the Economy and Your Community

If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community. NAR releases a report every year to show how much economic activity is generated by home sales.

When a house is sold, it can make a big difference in the local economy. The impact comes largely from the workers required to build, update, and buy and sell homes.

Housing being a major job creator makes sense when you consider there are many different industries involved in the process. A recent article from Fortune notes housing activity could have a more robust impact than you think due to the many ways it’s tied to the economy.

When you buy or sell a home, you work with a team of professionals, including contractors, specialists, lawyers, and city officials. Each person plays a role in making the transaction...

If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community.

06/14/2023

A Drop in Equity Doesn’t Mean Low Equity

Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter.

As home prices dropped slightly in the back half of 2022, equity was impacted. Based on the most recent report from CoreLogic, there was a 0.7% dip in homeowner equity over the last year. However, the headlines reporting on that change aren’t painting the whole picture. The reality is, while home price depreciation during the second half of last year caused equity to drop, the data shows homeowners still have near record amounts of equity.

Consider the total amount of tappable equity in this country going all the way back to 2005. Tappable equity is the amount of equity available for homeowners to access before hitting a maximum 80% lo...

You may see media coverage talking about a drop in homeowner equity.

06/13/2023

Your Needs Matter More Than Today’s Mortgage Rates

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.

It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. As Danielle Hale, Chief Economist at Realtor.com, explains, “. . . homeowners who locked in a 30-year fixed rate in the 2-3% range don't necessarily want to give that up in exchange for a rate in the 6-7% range.”

But your lifestyle and your changing needs should matter more. Here are a few of the most common rea...

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed.

06/12/2023

Are Home Prices Going Up or Down? That Depends…

Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different methods used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M).

Why Is This Distinction So Important Right Now?

We’re about to enter a few months when home prices could possibly be lower than they were the same month last year. April, May, and June of 2022 were three of the best months for home prices in the history of the American housing market. Those same months this year might not measure up. That means, the Y-O-Y comparison will probably show values are depreciating. The numbers for April seem to suggest that’s what we’ll see in the months ahead. That’ll generate troubling headlines that say home va...

Media coverage about what’s happening with home prices can be confusing.

06/11/2023

If you’re thinking of buying a home, it may help you find the stability, feeling of community, and comfort you’ve been dreaming of. Let’s connect today to discuss your goals and all homeownership has to offer.

06/11/2023

The Summer Buyer and Seller Guides Give You the Facts

Do all those confusing headlines about the housing market leave you with more questions than answers? Let’s connect so you can get your free guides and the knowledge you deserve.

06/09/2023

Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years. Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years. DM me so I can share the data that puts those headlines in the proper perspective.

Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were 'unicorn' years.

06/08/2023

This Real Estate Market Is the Strongest of Our Lifetime

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point.

>>The Current Mortgage Rate on Existing Mortgages

First, let’s look at the current rate on existing mortgages. According to the FHFA, as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4%. Here's why this gives the housing market such a solid foundation today. Having so many homeowners with such low mortgage rates helps us avoid a crisis with a flood of foreclosures coming to market like there was back in 2008.

>>The Amount of...

When you look at the numbers today, the one thing that stands out is the strength of this housing market.

06/07/2023

The Main Reason Mortgage Rates Are So High

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions:

>>Why Are Mortgage Rates So High?

The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). Demand for MBS helps determine the spread between the 10-Year Treasury Yield and the 30-year fixed mortgage rate. Historically, the average spread between the two is 1.72.

Last Friday morning, the mortgage rate was 6.85%. That means the spread was 3.2%, which is almost 1.5% over the norm. If the spread was at its historical average, mortgage rates would be 5.37%.

This large spread is very unusual. The good news is, that means there’s room for mortgage rates to im...

Today’s mortgage rates are top-of-mind for many homebuyers right now.