Sky Country Community July Newsletter 2017

Sky Country Community July Newsletter 2017
Presented by Celina Vazquez
 
Summer Concerts in the ParkJuly 7th,14th,21st,28th
Hey Sky Country, Enjoy the summer nights with FREE concerts in the park. Yeah I said Free! Every Friday till August 25th from 7:30PM to 9:00PM at Harada Heritage Park. Located on the corner of Scholar Way and 65th Street. So bring your lawn chairs,blankets,food,etc and get comfy. There will also be vendors selling a variety of food and drinks at the park. If needed there will be additional parking located on 68th Street. See a variety of bands paying tribute to rock legends such as Bon Jovi, The Beatles, and more. For more information feel free to visit

www.eastvaleca.gov 

Swimming Lessons – July through August

Learn to Swim! Swimming lessons are available at Rubidoux and Jurupa Valley High Schools. There are leeson for Parent and Child and for swimmers 6 years and older. Summer Sessions are from Monday -Thursday from nature projects. Cost includes two local field you in next months newsletter. Feel free to call 9AM to 7PM the cost is 40$ per session and Non-residents is 50$. For more information 
call (951)361-2090 or visit JARPD.ORG 
Summer Day Camp – July through August
Summer Day Camp is now in session! Day campers will participate in various theme-based activities including arts & ing events, projects, or services you have. If so and for swimmers 6 years and older. Summer crafts, sports, group games, cooking, and nature projects. Cost includes two local field trips per session. Ages are from 6-12 years old and day camps are Mon-Fri from 8AM-5PM. More Info Call (951)361-2090 

Sky Country Announcements

Sky Country Announcements

Hey Sky Country, would you like to announce something to the community about any upcoming events, projects, or services you have. If so feel free to contact me to save a spot just for you in next months newsletter. Feel free to call 909-697-0823 or email at Celinalvz@gmail.com

Crime Report

Social Media
Living in Sky Country Area Stay Up to date on community news, events, and contests. Like us on Facebook to stay connected
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Mortgage Interest Rates Went Up Again… Should I Wait to Buy?

Mortgage Interest Rates Went Up Again… Should I Wait to Buy?

 

Mortgage Interest Rates Went Up Again… Should I Wait to Buy? – Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeksFreddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.
Mortgage Interest Rates Went Up Again… Should I Wait to Buy? | MyKCMThis has caused some purchasers to lament the fact they may no longer be able to get a rate below 4%. However, we must realize that current rates are still at historic lows.
Here is a chart showing the average mortgage interest rate over the last several decades.

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.
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How to Get the Most Money When Selling Your Home

How to Get the Most Money When Selling Your Home

How to Get the Most Money When Selling Your Home – Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).
 
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.
Realtor.com gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive, as the seller likely believes that he or she will net more money if they don’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.
Research posted by the National Association of Realtors revealed that:
“The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.
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Spring Forward: The Difference An Hour Makes

Spring Forward: The Difference An Hour Makes

Some Highlights:
  • Don’t forget to set your clocks forward this Sunday, March 12th at 2:00 AM EST in observance of Daylight Savings Time.
  • Unless of course, you are a resident of Arizona or Hawaii!
  • Every hour in the United States: 649 homes are sold, 177 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises $1.86!
 
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Builder Confidence Hits 11-Year High

Builder Confidence Hits 11-Year High – In many areas of the country, there are not enough homes for sale to satisfy the number of buyers looking to purchase their dream homes. Experts have long proposed that a ramp-up in new, single-family home construction would be one of the many ways to overcome this inventory shortage.
According to a recent survey conducted by the National Association of Home Builders (NAHB) and Wells Fargo, housing market confidence amongst builders reached an 11-year high last month.

What Does High Confidence Mean for the Housing Market?

In a recent interview, Rob DietzChief Economist and SVP for NAHB, put it this way:
“Higher market confidence will translate into more building and more inventory in 2017. We expect single-family construction to grow 10 percent next year.”
With 2016 marking the best year in real estate sales in over a decade, a 10 percent ramp-up in single-family construction will only aid in making 2017 an even greater year.
According to the latest US Census data, sales of newly constructed homes were up 3.7% over January 2016 as they reached a seasonally adjusted annual rate of 555,000. Dietz went on to comment:
“We can expect further growth in new home sales throughout the year, spurred on by employment gains and a rise in household formations. As the supply of existing homes remains tight, more consumers will turn to new construction.”

Bottom Line

With the weather and the real estate market heating up this spring, there will be a surge of new construction coming to the market soon.
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Housing Market Expected to “Spring Forward”

Housing Market Expected to “Spring Forward”

Housing Market Expected to “Spring Forward” – Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.
The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2016 all fell in April, May or June.
Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2017, let’s get together to evaluate the opportunities in our market.
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The Connection Between Home Prices & Family Wealth

The Connection Between Home Prices & Family Wealth

The Connection Between Home Prices & Family Wealth – Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position?
As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?
Since the experts predict that home prices will increase by 4.4% this year alone, the young homeowners will have gained $11,000 in equity in just one year.
Over a five-year period, their equity will increase by nearly $43,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!
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Where Did Americans Move in 2016

 

Where Did Americans Move in 2016

 

Some Highlights:

  • For the 5th year in a row, the Northeast saw a concentration of “High Outbound” activity.
  • For the first time ever, South Dakota held the top spot for “High Inbound” states.
  • Much of America’s outbound activity can be attributed to Boomers relocating to warmer climates after retiring.
 
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Mortgage Rates Impact on 2017 Home Values

 

Mortgage Rates Impact on 2017 Home Values – There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward.
The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage interest rates will move upward in 2017. Increasing interest rates will definitely impact purchasers and may stifle demand.
In a recent study of industry experts, “rising mortgage Interest rates, and their impact on mortgage affordability” was named by 56% as the force they think will have the most significant impact on U.S. housing in 2017. If rising rates slow demand for housing, home values will be impacted.
To this point, Pulsenomics, recently surveyed a panel of over 100 economists, investment strategists, and housing market analysts, asking the question “In your opinion, at what level will the 30-year fixed rate mortgage rate significantly slow home value appreciation?” The survey revealed the following:

Bottom Line

Most experts believe that rates would need to hit 5% or above to have an impact on home prices.
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Over Half of All Buyers Are Surprised by Closing Costs

Over Half of All Buyers Are Surprised by Closing Costs

Over Half of All Buyers Are Surprised by Closing Costs – According to a recent survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage.
After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.
“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”
Bankrate.com recently gathered closing cost data from lenders in every state and Washington, D.C. to be able to share the average costs in each state. The map below was created using the closing costs on a $200,000 mortgage with a 20% down payment.
Keep in mind that if you are in the market for a home above this price range. your costs could be significantly more. According to Freddie Mac,
“Closing costs are typically between 2 and 5% of your purchase price.”

Bottom Line

Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
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