Friday, November 14, 2014

November 2014 | Real Estate Market Update

Home sales reached its highest pace in September while remaining a bit below last year's level according to the NAR (National Association of Realtors). Prices went up on a year over year basis for 31 consective months as of September, but the magnitude of the gains has decreased over the last 6 months. 

Nationally inventory declined slightly as we began to move out of the peak season for home sales.

Locally, inventory along with days a home is on the market is increasing. Therefore look for price reductions. Combined with seasonal declines in home prices in coming months, declines in interest rates it will present opportunity for buyers to see a bump in what they can afford.

Watch the brief clip below for a complete report.

Thursday, November 6, 2014

"Rent: Too Damn High?" Can you Buy a Home with very little Down?

I remember hearing about this guy who was running for governor in New York, his party....The Rent is Too Damn High Party. His platform, you guessed it, rent is too high. I posted a video of the songified version of the debate for fun.
The reality is rent is going up this year at a steep rate. Just today CNBC's Diana Olick has a story "Rents skyrocket well beyond wages".
Check out the video below

According to the article and the video it begs the question, why are more renters not considering buying a home. Why pay someone else's mortgage if your rent is higher than what your mortgage payment could be?

At the end of the report, Diana states one of the hurdles to buying is having enough $$ to put down. So....what if there was a way to only put down as little to no $$ down. Our team offers such solutions. Depending on your income and price point, you can qualify for down payment assistance. 

We can even help with covering some if not all your closing cost via seller credit or lender credit. 

Looking to buy a home in Riverside County for $350,000 or Orange County $625,000, you may only have to bring an amount as low as $5000-6500. That is equal to a deposit for a rental, heck you can use the deposit you get from renting, plus what you would normally pay for rent since you don't have to pay a mortgage for up to 2 months. 

All you have to do is contact us for a free/no obligation buyers consultation and we can start the process of home-ownership sooner than you thought was possible.

Wednesday, October 29, 2014

October 2014 - Real Estate Market Update

The pace of home sales reached its 2nd highest rate
of 2014 in August, but was slightly slower than the previous month and remains below 2013 levels. Prices also saw a slight decline in August, reflective of the general slowing in the market; however, prices continue to post year over year gains, but slower pace than earlier in the year. 

Bottomline the market is shifting to a buyer's market with more homes in the market. Watch the brief clip below for a complete report.

Wednesday, October 8, 2014

Curb Appeal

Our research has shown that sellers who enhanced curb appeal sold their house seven days faster than those who didn't. Just trimming the trees and bushes could separate your house from the competition. Want to get your house sold faster and for more money? Great curb appeal is one way to do it. Improving or enhancing your house’s curb appeal can be overwhelming. However if you divide the improvements up by section, or region. It can simplify the process as you work your way down the list.

  • Entryway and Front Door
    Curb Appeal KW Precision REG
  • Driveway
  • Garage Doors
  • Front lawn & Landscaping
  • Siding, Decks, & Patios/Porches
  • Gutters, Downspouts, & Roof
  • Windows

  • We at Precision Real Estate Group will consult you how to set up your sale home of for a success. Let us know how we can help. We even provide a free eBook on how to improve your curb appeal, contact us for more info!

    The Value of Being Pre-Approved

    It's exciting when you decide to start looking for a home. Going online or open houses figuring out what type of home you like.
    In the midst of the excitement, buyers may forget one very important step, getting pre-approved. It lets you know where you stand on your price point to buy a home.

    Please don't confuse "pre-qualify" with "pre-approval". When a lender pre-qualifies someone its based on verbal info given by the potential borrower to the lender, however a pre-approval goes deeper and involves a more thorough look into your income and expenses, including a look at your credit score.

    My lender for example will ask for 2 years tax returns, 2 months of bank statements and the last 3 pay stubs (if self employed profit/loss statements). Along with pulling your credit, this will give my lender a complete picture of what you qualify for in a home purchase. Also, more importantly you will know approximately how much your monthly mortgage payment will be.

    Please keep in mind that most if not all sellers will require a pre-approval letter along with your offer.

    Bottom line: Its extremely important to be pre-approved not only to submit an offer, but also to know what you qualify for, the last thing you want is to start your home search, fall in love with the home of your dreams, scramble for a pre-approval only to find out you may not qualify for that home. We at Precision Real Estate Group want to make sure that doesn't happen and always here to help with every step of the process, whether you are looking now or later.