San Gabriel Real Estate Market Update

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions. 

Last year at this time, the average home was closing escrow in 20 days - which is incredibly abnormal. What we saw happening was investors buying up real estate here in San Gabriel at an intense rate. This year, it takes about 45 days to close escrow, which is a positive sign.

With fewer investors in the market artificially affecting sales data, the market is more stable. Interest rates are still very low and the average home buyer doesn't have to compete with investors anymore.

Median home prices in our area sit at an average of about $430,000. This stable market means buyers will be able to negotiate a fair price, as sellers no longer have a monopoly on negotiations.

If you are interested, we can send you the charts, so you can see how things have changed over the last 4 to 5 years. It's certainly been a wild ride. Additionally, if you want a free market analysis of what your home might be worth, we can also do that for you. Now is a pretty good time to upgrade, as the investors are gone and you can still get your home sold for top dollar.

If you're thinking of making a move, don't wait long. Conditions are always changing, and things are looking pretty good right now. If you have any questions, we are always free to talk - so don't hesitate to reach out to us by phone or email. Thanks, and have a great day!

There's no Better Time to Buy an Affordable Home in the San Gabriel Valley

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

 

If you're looking to buy a home in the San Gabriel Valley, you need to know what you can afford and when is the best time to buy a home, given market conditions. If you're looking at the market and asking, "what should I do, is now the time to buy?" - we're here to help.

While interest rates remain at their lowest, we're seeing home prices continue to rise. According to a report from the National Association of Realtors, to buy an average property at median home price you need an income of $125,000 to qualify. Forecasters predict this to continue indefinitely, which means now is the time to buy if you're worried about finding an affordable home that suits your needs. Whether it's investment property, a home, or a vacation home, you need to enter the market in order to avoid higher prices in the future.

If you're worried about your credit or think you need to save more money, give us a call and we'll help you develop a plan so you can buy a home before prices rise even more. There are many programs out there that can make the process more affordable for people with limited means. Reach out to us and we'll assist you with all your real estate needs.

Why a Foreclosure Doesn't Mean your Home Ownership Dreams are Over

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

If you have ever gone through a home foreclosure, you know how difficult of a situation it can be. Losing your home is not an easy thing to go through, and it may make you question whether you will be able to be a homeowner again.

I have invited back Rick Mount, an experienced mortgage professional, to let you know how you can get back into the San Gabriel Valley market after your home is foreclosed on. Here are some highlights from Rick's time with us. There is some really great information here!

• The market is really beginning to open up. After we went through the great credit crisis a few years back, there was an abundance of foreclosures, bankruptcies, and short sales in the San Gabriel Valley market. A lot of people are dealing with situations that have impacted their credit in a way that doesn't allow them to qualify.
• There are some exciting new programs being brought out through the Federal Housing Agency to help first time buyers as well as previous foreclosed home owners.
• If you have had a foreclosure or short sale, by using FHA financing you may be able to qualify for a mortgage loan only a year after your home is foreclosed on.

We really want people to be aware that it is very possible for them to qualify for this type of loan. The San Gabriel Valley market is still hot this time of year, with low rates that are expected to rise. If you or somebody you know have had a foreclosure or short sale, we can help you get back into a home today. Let us look at you individually to see if we can help create your path back to home ownership. 

San Gabriel Valley Real Estate Update June 2014

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

The San Gabriel Valley real estate market is always changing. It can be difficult to stay on top of things in this dynamic marketplace, so I have brought in Rick from VIP Mortgage to discuss some of the latest market trends.

There are many things going on in the real estate market right now. Interest rates have continued to remain very low and have come down even more over the last 30-60 days. This movement has helped increase the refinancing of homes in the area.

Homes are also continuing to appreciate at a very high rate, giving homeowners more and more equity and buying power. This is causing a slow increase in the number of home sales in San Gabriel Valley. As a result, more and more families are looking for better options for a long term home.

Market experts are predicting a dramatic increase in mortgage rates by the end of the year, so it's important to take advantage of these historic lows now. Given the recent appreciation rates as well as the fact that mortgage financing rates are very low, now is the best time to act if you are thinking of selling your home and moving into a new one. You may find that if you wait any longer, those interest rates will start to increase too much and you won't be able to afford your ideal home.

Please remember to call with any questions you may have to (626)914-6859. Let us help you qualify today so you don't regret it later on!

Utilize the RE/MAX App to Simplify Your Home Search

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

The RE/MAX Home Search App can Simplify Your Home Search
Today I wanted to speak about utilizing the technology that we currently have available. Most real estate companies have applications for home searches, and this includes RE/MAX.

This application can be downloaded below for free and is easy to use when you're out looking for homes. You can instantly access accurate and updated information, and this is very important in a market that can change from day to day.

This RE/MAX app uses a map to track your location and show you homes that are in our local San Gabriel Valley market. A property will only appear if it is active on the market, and you will be able to see all of the important information like the price, size, and available features.

Download the app here:
RE/MAX Real Estate Search (for Android)

RE/MAX Real Estate Search (for iPhone/iPad)

Another important application to have would be some sort of mortgage calculator. This helps to plan ahead for financing, and it is a great thing to know ahead of time when searching for a home. It also compliments the home search app if you are a very serious buyer.

Hopefully this information has been helpful. I believe that the RE/MAX real estate app can really improve your home search and take some time and stress out of it.

If you have any questions about this application or would like to know more about it, please do not hesitate to contact me. As always, if you're searching for homes in the San Gabriel Valley, consider me your #1 source for real estate.

What Makes Up your Credit Score?

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

What Makes Up your Credit Score?

Today I want to welcome back Rick Mount from Fareway Independent Mortgage Corporation. He is my expert on credit and he will be discussing a few credit-related issues today. 

Credit scores are very important to today's lending climate, so we like to make sure our clients know about their score and what it means for them. It can impact the type of loan they get and what their interest rate will be, so it's very important.  

Credit scores are made up of 5 major categories. 

1. Payment History accounts for 35% of your score.


2. The amount of debt that you owe on credit cards or other transactions will affect your score.


3. The length of time that you have been borrowing matters. It's not that new borrowers will be at a disadvantage, but it helps to show lenders that you have been borrowing money responsibly for a long time.


4. New credit that has been acquired is factored in as well. New car payments or loans of any type will affect your score. If you're opening up a lot of new credit, it could have a negative effect on your score.


5. Types of Credit Used: This would be when we compare an auto loan to a jewelry loan. Lenders want to see major debt that has been extended to you and not frivolous purchases. 

There are certain things that you can do to improve your scores and help them from dropping, and that is when you would get into contact with me or one of my credit experts. We are always here to help you and are more than willing to guide you through the real estate process.

If you ever need assistance, please contact me and we could easily arrange a time to talk.

Get Top Dollar on Your Home by Pricing it Attractively with my Advice

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Caculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

Pricing Correctly from the Beginning of Your Listing
With the spring and summer markets picking up here in the San Gabriel Valley, I think it's a good time to begin talking about how you can price your home attractively so that you can sell quickly and for a great price. I have some tips for you on how to price your home in order to get top dollar.

1. Get Top Dollar When Your Home is New on the Market: The longer your home has been on the market, the less money you will likely be offered for it. This is one reason why it is critical to price your home attractively, because if it hits the market with a good price, it will likely sell for top dollar. Buyers are very savvy, and will be privy to a home that is exorbitantly priced.


2. Buyers Shop Around: Buyers, just like when they're buying cars or other items, will shop around to find the best value. Buyers have access to internet listing sites, and will know right away if your home is a good deal or not, so you need to be aware that home buyers these days are much more educated than ever before.


3. Negotiation: Negotiations are much easier when your home is priced accurately. You can leverage a buyer into a good deal for yourself if your home is priced fairly. An accurately priced home is a great bargaining chip during the negotiation process. Instead of having to accept an offer out of desperation, you can pick and choose which buyer's offer will benefit you the most.

Something else that can happen if your home is not priced right is that a buyer will have an appraisal done on your home. When the appraiser gives an estimate that does not match the listing price, you will likely lose out on a sale. In this situation you will have lost a deal and will probably have to reprice your home

In today's environment you have to pay attention to the market, because the market is ultimately what will decide the best price for your home. Because of this, you need a good understanding of the real estate market.

So, if you need advice on pricing your home or want assistance finding or selling real estate in the San Gabriel Valley, then please contact me. You can call me at (626) 914-6859 or email me at alex@alex-re.com

These Tips Will Have You Prepared to Purchase a Home

Today I'm here with Rick Mount from Fairway Independent Mortgage Corporation to talk about some things that you should know when buying a home. He is an expert in his field and has five different things he wants to tell you about home buying.

1. Get Pre-Approved: This prevents clients from making mistakes and falling in love with properties that they don't qualify for. This also allows clients to close quicker in a transaction and shows sincerity when they try to buy a home. Rick recommends a formal pre-approval so that you can weed out any problems beforehand, and it also makes you look more attractive as a buyer.
2. Use a Professional Realtor: In today's real estate climate you need the help of a professional realtor. Not using a realtor would be similar to not using an attorney in a court of law, or not using a doctor to treat an illness. Realtors know how to negotiate and they act as a professional buffer between you and the seller. They can prevent you from making costly errors in the process as well, so rather than costing you money, they can actually save you cash in the long run.
3. Be Prepared to Put Earnest Money Down: This might seem obvious, but putting a good faith deposit down shows the seller that you are extremely serious about buying the home and will drastically increase your chances of getting the property you desire. The amount needed to put down can be negotiable, but it should be anywhere from $1,000-$10,000 depending on the purchase price of the home. Also, the more you put down, the more seriously you will be taken.
4. Be Mentally, Physically, and Financially Prepared: With inventory so low in the San Gabriel Valley, you need to be prepared to participate in the real estate market. You will get left behind if you are not prepared, so be ready to perform or you will not be taken seriously.
5. Don't Change Your Status During the Process: When you're in the process of buying a home, be sure not to change jobs, buy a new credit card, purchase a new car, or make any other major changes or purchases. This will affect your credit and could lead to major backups in the buying process. Commit to buying a home first, and then take care of your other needs afterward.

These 5 steps should have you adequately prepared to purchase a home. There are other things that can help, but in our eyes, these are the most important steps in getting our buyers ready to compete.

Of course, the home buying process is complex and can be intimidating, so feel free to reach out to me and I would love to help you with any of your issues. You can reach me at (626) 914-6859 or email me at alex@alex-re.com

Real Estate Market Update for the San Gabriel Valley

There are many San Gabriel Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Calculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 914-6859 for a FREE home buying or selling consultation to answer any of your real estate questions.

Real Estate Market Update for the San Gabriel Valley

This is my new video blog where I'll be updating you twice a month to inform and educate you about the real estate market. I'll be covering a wide variety of topics in relation to real estate and I'll also be answering any questions that you have for me. My goal is to help my clients, and hopefully this video blog will aid you in many ways.

For example, you can get a free home value report, which will be updated with new data and sent to you monthly via email. There is also a feature for you to search for available properties in the area, and you can get email updates when other properties become available within your search criteria.

Market Update for San Gabriel Valley in 2014

• Home prices have increased by 12% since last year in our market.

• Interest rates have risen slightly, but are expected to approach 5.5% or 6% by the end of the year.

• This means if you're looking to buy a home, now would be the time. Don't let higher interest rates take you out of the market, because the longer you wait, the more you will be paying.

• If you're looking to sell, now would also be an appropriate time because home prices are up and interest is rising. Expect buyers to make a mad dash as interest rates rise in 2014. This should allow you to sell your home easily and also for a good price.

Hopefully you found this information helpful. Keep your eyes peeled for more market updates.

If you need any assistance finding, buying, or selling real estate in the San Gabriel Valley, then please reach out to me.

Also, if you have any questions, suggestions, or comments, please call me at (626) 914-6859 or email me at alex@alex-re.com