Tuesday, May 26, 2015

What Can You Expect from Interest Rates in 2015?

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Welcome back, everyone! Today's topic is interest rates, which have become a very hot topic in our area. People want to know if and when they are rising, and what they can expect by the end of 2015. A lot of people in real estate are expecting rates to rise, so let's take a look at the numbers and determine if that's the case.

We finished 2014 with an average interest rate of 3.75% for 30-year fixed mortgages, which is very close to the historic low. Right now, rates are in the low 4%'s, but both the Mortgage Broker's Association and the National Association of Realtors are projecting rates to rise above 5% by the end of the year.

If interest rates do jump to over 5%, it really will be a modest hike compared to the historical averages for interest rates. Back in the early 2000's, rates were in the 6-7% range. In the 90's, rates were in the 8-9% range. And all the way back in the 1980's? Rates were in the 13-17% range!

By all accounts, 5% rates are still historically low. You may be pleasantly surprised about what you can afford right now compared to what you could have afforded in the past.

If you can afford it, it makes sense to buy a home right now. Rates are still low, but you can't plan your purchase around interest rates. You've got to do it when it's right for your family. We will help you find your dream home just like we've done for home buyers over the last 15 years.

If you know somebody who is looking to buy, sell, or invest in the real estate world, give me a call or send me an email. Also, please share this video on Facebook! We look forward to speaking with you soon!

Thursday, May 14, 2015

What You Need to Know About Selling a Home Today

Buying an Orange or LA County Home? Search all Homes for Sale

Selling an Orange or LA County Home? Check out our FREE Home Value Report

Hey everybody, welcome back to my blog. Today's topic is a fun one. I'm going to be answering some of the most common questions I've been getting lately from my clients. You've probably asked a lot of these questions yourself, so today I am going to provide some answers.

"Can you take me through the home-selling process and tell me what to expect?"

Over the years, I've recognized a number of steps it takes to sell a home, and for the purposes of this video, I'll go over the key steps with you today. I can take you from anywhere you are in the process all the way through to closing.

Step 1 is the initial conversation you have with a Realtor, where you discuss your goals in regards to your home sale. Step 2 is actually seeing the home, which includes doing a walk-through, discussing pricing, and going over any changes you can make to help increase your value.

When we're ready to proceed, we will schedule photography and from there, buyer showings will start within a few days.

"When Can I expect an offer?"

The average market time in our area is 90 days, but my team's average is 39 days. We are doing the job in less than half the time.

"How much can I expect of my listed price?"

The average Realtor is only getting 92% of their list price. So if you list for $500,000, you can only expect $460,000 back. However, our team is averaging a list-to-sale ratio of 99.5%, and are getting home sellers nearly all of their asking price. Our clients have been very happy about that.

"How long does it take to get to closing?"

Usually about 30-35 days on average, although if you need to move faster or slower, we can help you do that.

If you have any questions for us, feel free to give us a call or send us an email. If you know somebody who is looking to buy or sell, share this video on their Facebook timeline! We look forward to hearing from you soon!