Built up some equity in your home? Need access to it (pay debts, investments, second home, etc.) but not sure how to get at it? There are a few different options. Just message me and I'll let you know what you may be able to do and how much you may be able to access.
Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years |
If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed.
Last week, Trulia posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years (1975-2016). Their research revealed that: “Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In 1980, the median household could only afford about 3/4 of the median home price.
Despite relatively stagnant incomes, affordability has grown due to the sharp drop in mortgage rates over the last 30 years – from a high of over 16% in the 1980s to under 4% by 2016.
Of the nation’s 100 largest metros, only Miami became unaffordable between 1990 and 2016. Meanwhile, 22 metros have flipped from being unaffordable to becoming affordable in that same time frame.” Here is a graph showing the Affordability Index compared to the 40-year average:
The graph shows that housing affordability is better now than at any other time in the last forty years, except during the housing crash last decade. (Remember that during the crash you could purchase distressed properties – foreclosures and short sales – at 20-50% discounts.) There is no doubt that with home prices and mortgage rates on the rise, the affordability index will continue to fall. That is why if you are thinking of moving up, you probably shouldn’t wait.
If you have held off on moving up to your family’s dream home because you were hoping to time the market, that time has come. Andres, Lic #1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate#home#house#housing#homeprices#values#homevalues#homeequity#homeowners#homeownership#homeowner#irvine#tustin#santaana#cypress#costamesa#fullerton#orangecounty#california#florida#tampa#washington#utah#tacoma#lakewood#affordability
Find your way out of the hole and on the road to financial success with a Home Equity Loan from SJFCU. You can borrow up to 100% of the loan-to-value against the equity in your home. Our low rates start at just 3.99% APR for 5 years*.🏡
*Must apply by March 31, 2018. Maximum loan amount is $25,000. Minimum amount borrowed for new loans and refinances is $10,000. Minimum FICO score of 720 and 2 years property ownership required. Offer good on owner occupied residence only up to 100% loan to value including any existing first mortgage balance. Maximum loan term is 66 months. Other home equity rates and terms available to qualified borrowers. All rates and terms subject to change at any time at the discretion of the credit union. Interest may be tax deductible. Consult a tax professional. Standard closing costs apply.
0 113 days ago
You can use the equity in your home to purchase property to create another revenue stream!
Find out and track how much your home appreciates each month. Maybe you want to refi, pull out some equity to pay off debt or remodel? Or maybe you want to sell and want to keep track of your equity. This tool provides up-to-date market info specifically for your property. Check it out, you won't regret it! #lasvegasrealestate#homevalue#homeequity COPY AND PASTE THIS LINK..
Part II 4. Security “Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.” As scary as that thought may be, any additional security and an extra set of eyes looking out for you always adds to peace of mind.
5. Pets “Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.” Evaluate all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or in a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?
6. Mobility “No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.” Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Installing handrails and making sure your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.
7. Convenience “Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!” How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.
When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home! Andres, Lic #1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate#home#house#housing#homeprices#retire#homevalues#homeequity#homeowners#homeownership
2 123 days ago
Part I 7 Factors to Consider When Choosing A Home to Retire In | MyKCM
As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.
According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.
1. Affordability “It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.” Would moving to a complex with homeowner association fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?
2. Equity “If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.” The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $14,000 in equity last year.
3. Maintenance “As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.” As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind of not having to do the maintenance work yourself? Andres, Lic #1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate#home#house#housing#homeprices#retire#homevalues#homeequity#homeowners#homeownership#homeowner#irvine#tustin#santaana#cypress#costamesa
The BC HOME Partnership Loan contributes to your personal down payment, up to a maximum of five percent of the purchase price. •
The term is 25 years, which is interest and payment free for the first five years. The loan will be registered on your property title as second mortgage •
Applications for the BC HOME Partnership program will be accepted until March 31, 2018
2 384 days ago
Is it a myth or a fact? What do you think? :)
The truth is - it’s hard to tell whether it’s a myth or a fact.
It depends on the type of loan you apply for and the terms of your contract. Generally speaking, if you're paying off a loan a few months early, rather than a few years, you will not have to pay a huge fee.🤓💡
You Can Save for a Down Payment Faster Than You Think! | 🤔! Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.
By determining the percentage of income spent renting in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.
According to the data, residents in Ohio can save for a down payment the quickest in just under 3 years (2.44). Below is a map that was created using the data for each state:
What if you only needed to save 3%? What if you were able to take advantage of one of Freddie Mac’s or Fannie Mae’s 3%-down programs? Suddenly, saving for a down payment no longer takes 5 or 10 years, but becomes possible in a year or two in many states as shown on the map below.
Whether you have just started to save for a down payment, or have been saving for years, you may be closer to your dream home than you think! Let’s meet up so I can help you evaluate your ability to buy today. Andres, Lic #1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate#home#house#housing#homeprices#values#homevalues#homeequity#homeowners#homeownership#homeowner#irvine#tustin#santaana#cypress#costamesa#fullerton#orangecounty#california#florida#tampa#washington#utah#tacoma#lakewood#downpayment#savings#save#homeshopping#savers
This picture makes me laugh. I look like a realtor ready to show an empty house but sadly I already own this house and it just has a completely undecorated/unfurnished entry HAHA. You know it’s bad when people asked “how long have you lived here?” two years after you moved in 😅😂 #killingit#realtor#homeequity#letmesellyourhouse#HAHA
Towards the end of last year the property market in Sydney started to show signs of slowing. With increased days on the market and reduction in sales prices, evidence of lower sales history is now being reported. Property prices are predicted to continue to fall, which will in turn lower the value of your property.
Home equity is the difference between your property's market value and the balance of your mortgage. If you have paid down your loan or your home has increased in value since you purchased it, you may be able to use your home equity to purchase a new car, renovate your home or start an investment portfolio.
The Kaboodle team can assist you with unlocking equity in your home so give us a call on 1800 KABOODLE or contact Kim or Jon for assistance. We are happy to help! #homeequity#homeloans#homeloansnewcastle#newcastle#mortgagebrokernewcastle#mortgagebrokersydney#homeloanssydney
Swipe Left for Afters. Here it is people!!! Small beginnings as I end one of my first consulting project for a client in Del Mar by the beach. This design saved my client a lot of unnecessary $ on cabinets fixtures and fittings and allowed them to actually figure out how to get it done in a timely fashion 🙌🏼🏡 Classic shaker style Darkwood along with beautiful sweeping quartz stone. Ahhh just #kitchencrush Big thanks to @rogelio_nevarez and CK Custom Cabinets. Always deliver the goods 🤗
5 344:34 AM Feb 23, 2018
📍Arbor Residences offering 52/ 2 & 3 bedroom boutique eco- friendly residences starting in $799,000s in the heart of #coconutgrove. With active rentals averaging $4,000 monthly, it's time to invest in home 🏡 equity in one of Miami's most exclusive neighborhoods. Architecture 📐Behar Font & Partners - Development 🚧Urban Atlantic Group + Oak Ventures. Contact me for more information (954) 999-2875 | [email protected]#arbor#coconutgrove#agentsofcompass#realestatebroker