3 Reasons the Housing Market is NOT in a Bubble

3 Reasons the Housing Market is NOT in a Bubble

 

3 Reasons the Housing Market is NOT in a Bubble – With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago.
Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to obtain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild.
Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash.

Where we are today…

1. If we look at lending standards based on the Mortgage Credit Availability Index released monthly by the Mortgage Bankers Association, we can see that, though standards have become more reasonable over the last few years, they are nowhere near where they were in the early 2000s.
3 Reasons the Housing Market is NOT in a Bubble | MyKCM
2. If we look at new construction, we can see that builders are not “over building.” Average annual housing starts in the first quarter of this year were not just below numbers recorded in 2002-2006, they are below starts going all the way back to 1980.
3 Reasons the Housing Market is NOT in a Bubble | MyKCM
3. If we look at home prices, most homes haven’t even returned to prices seen a decade ago. Trulia just released a report that explained:
“When it comes to the value of individual homes, the U.S. housing market has yet to recover. In fact, just 34.2% of homes nationally have seen their value surpass their pre-recession peak.”

Bottom Line

Mortgage lending standards are appropriate, new construction is below what is necessary and home prices haven’t even recovered. It appears fears of a housing bubble are over-exaggerated.
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Financial Planning: 4 Reasons to Buy a House Today

 

Financial Planning: 4 Reasons to Buy a House Today

 

Financial Planning: 4 Reasons to Buy a House TodayHomeownership will always be a part of the American Dream. There are advantages to owning your own home (educationalhealthsocial) that far transcend any economic impact. However, we want to look at several of the financial advantages of homeownership in today’s post.

1. Buying is Cheaper Than Renting

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The report reveals that:
“Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation…Nationally, rates would have to reach 9.1% for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.”

2. Homeownership “Forces” You to Save

According to SavingAdvice.com, homeownership is a great way to save. Their advice is quite simple:
“Homeownership is a “forced” savings account because you own the home, you have no choice – that monthly housing cost has got to be paid no matter what…Homeownership can be an outstanding way to force yourself to be more frugal in the rest of your spending so that you can save and build equity in your home.”

3. Homeownership Offers Several Tax Deductions

According to the Tax Policy Center’s Briefing Book -“A citizen’s guide to the fascinating (though often complex) elements of the federal Tax System” – there are several tax advantages to homeownership. Here are three:
  1. Homeowners who itemize deductions may reduce their taxable income by deducting any interest paid on a home mortgage.
  2. Homeowners who itemize deductions may also reduce their taxable income by deducting property taxes they pay on their homes.
  3. Taxpayers who sell assets must generally pay capital gains tax on any profits made on the sale.

4. Experts Expect Home Price Appreciation to Continue

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
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.

Bottom Line

Some are afraid that home values may have already peaked. However, we believe that purchasing a home now will prove to be a sound financial decision for years to come. As Warren Buffet said, “When others are greedy, be fearful. When others are fearful, be greedy.”
 
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Buying a Home? Do You Know the Lingo?

 

Buying a Home? Do You Know the Lingo?

 

Buying a Home? Do You Know the Lingo?Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
Freddie Mac has compiled a more exhaustive glossary of terms in their “My Home” section of their website.
Annual Percentage Rate (APR) – This is a broader measure of your cost for borrowing money. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower is required to pay. Because these costs are rolled in, the APR is usually higher than your interest rate.
Appraisal – A professional analysis used to estimate the value of the property. This includes examples of sales of similar properties. This is a necessary step in getting your financing secured as it validates the home’s worth to you and your lender.
Closing Costs – The costs to complete the real estate transaction. These costs are in addition to the price of the home and are paid at closing. They include points, taxes, title insurance, financing costs, items that must be prepaid or escrowed and other costs. Ask your lender for a complete list of closing cost items.
Credit Score – A number ranging from 300-850, that is based on an analysis of your credit history. Your credit score plays a significant role when securing a mortgage as it helps lenders determine the likelihood that you’ll repay future debts. The higher your score, the better, but many buyers believe they need at least a 780 score to qualify when, in actuality, over 55% of approved loans had a score below 750.
Discount Points – A point equals 1% of your loan (1 point on a $200,000 loan = $2,000). You can pay points to buy down your mortgage interest rate. It’s essentially an upfront interest payment to lock in a lower rate for your mortgage.
Down Payment – This is a portion of the cost of your home that you pay upfront to secure the purchase of the property. Down payments are typically 3 to 20% of the purchase price of the home. There are zero-down programs available through VA loans for Veterans, as well as USDA loans for rural areas of the country. Eighty percent of first-time buyers put less than 20% down last month.
Escrow – The holding of money or documents by a neutral third party before closing. It can also be an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance.
Fixed-Rate Mortgages – A mortgage with an interest rate that does not change for the entire term of the loan. Fixed-rate mortgages are typically 15 or 30 years.
Home Inspection – A professional inspection of a home to determine the condition of the property. The inspection should include an evaluation of the plumbing, heating and cooling systems, roof, wiring, foundation and pest infestation.
Mortgage Rate – The interest rate you pay to borrow money to buy your house. The lower the rate, the better. Interest rates for a 30-year fixed rate mortgage have hovered between 4 and 4.25% for most of 2017.
Pre-Approval Letter – A letter from a mortgage lender indicating that you qualify for a mortgage of a specific amount. It also shows a home seller that you’re a serious buyer. Having a pre-approval letter in hand while shopping for homes can help you move faster, and with greater confidence, in competitive markets.
Primary Mortgage Insurance (PMI) – If you make a down payment lower than 20% on your conventional loan, your lender will require PMI, typically at a rate of .51%. PMI serves as an added insurance policy that protects the lender if you are unable to pay your mortgage and can be cancelled from your payment once you reach 20% equity in your home. For more information on how PMI can impact your monthly housing cost, click here.
Real Estate Professional – An individual who provides services in buying and selling homes. Real estate professionals are there to help you through the confusing paperwork, to help you find your dream home, to negotiate any of the details that come up, and to help make sure that you know exactly what’s going on in the housing market. Real estate professionals can refer you to local lenders or mortgage brokers along with other specialists that you will need throughout the home-buying process.

The best way to ensure that your home-buying process is a confident one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher,’ and who puts your family’s needs first.

 
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What Are the Experts Saying about Mortgage Rates?

What Are the Experts Saying about Mortgage Rates?

 

What Are the Experts Saying about Mortgage Rates?Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying:

“In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.”
“The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for housing should allow the housing market to weather the storm of gradually rising interest rates.”
“Although we strongly believe that the housing supply-demand imbalance for single-family homes will continue to drive above-average home price appreciation, just as falling mortgage rates aided pricing power on the margin in recent months, we expect the opposite effect to become evident in the coming months. As such, we project year-end home price inflation of 4.8% for 2017 and 4.1% for 2018.”
“A modest increase in mortgage rates won’t have much of an effect on home purchases. A buyer may need to slightly re-evaluate which homes they can afford, but it’s not likely to make an impact on qualifying, in most cases.”
“Our survey data shows that mortgage rates would have to be significantly higher to have any meaningful impact. The house buying power that borrowers have, even with rates below five percent, still remains historically strong.”
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11510 Park Center Dr, Jurupa Valley, CA 91752 Sky Country Home For Sale by Celina Vazquez Realtor

“JUST LISTED”
WWW.11510PARKCENTERDR.COM
11510 Parkcenter Dr
Jurupa Valley, CA 91752
 
Open House
Sunday, May 1st, 2016
From 1:00 – 3:00 PM
Celina Vazquez Realtor with Keller Williams Realty- Rancho Cucamonga represents this beautiful horse property located in one of the Jurupa Valley’s most sought communities Sky Country. This California Ranch Home single-story features 3 bedrooms, 2 bathrooms, large bonus room/family room, and 1,650 Square Feet home on over ½ acre lot with 2-car garage with direct access.
The kitchen has been beautifully remodeled with granite overlay counters, newer 4-burner stainless steel Frigidaire gas range/oven and newer laminate flooring.  The living room has an impressive corner fireplace with a circular hearth, formal dining room/ dining room with open concept to the large kitchen and view to the enclosed patio. Large bonus room that can be use as a 4 bedroom or family room. With 23,087 square feet lot beautiful landscape backyard is designed for peace and privacy and for entertaining.  Two-stall stable, three custom storage sheds and gorgeous sparking blue swimming pool.  This house has plenty of room for all your toys, RV, horses, hay and more. 
Sky Country Community is designed with ½ acre home ranches so ideally suited to its beautiful country living and is conveniently located with close proximity of the 15, 60, 10, 91 freeways. Its location is very advantageous for business commuters who travel to mayor employment to Riverside, San Bernardino and Orange County. Sky Country Community is near an abundance of family friendly amenities within minutes of the Big League Dreams, Vernola Park which features sports fields and outdoor basketball courts. Wineville Family park features baseball park, Laramore park is an Equestrian park.  Jurupa Valley High School, Mira Loma Middle School and Sky Country Elementary School are the schools designated to the Sky Country Community of the Jurupa Unified School District.  The Eastvale Gateway Shopping Center is a power center with stores like Home Depot, Best Buys, Target, Homegoods, and Dress Barn. The Victoria Gardens and The Ontario Mills Shopping Malls are within minutes of this community.  For more information about this home, or to make an appointment for private showing, please contact Celina Vazquez of Keller Williams-Rancho Cucamonga @ 909-697-0823 of email celinalvz@gmail.com.
 
 

https://player.vimeo.com/video/164197695

 

 

 

 

 

We Look Forward To Connecting With You Soon!
Celina Vazquez 
909-697-0823
Cal BRE # 01736989


 

Celina Vazquez Hosts Open House | Saturday, October 17th | Sky Country Community | 5050 Eclipse Ave Jurupa Valley CA 91752

5050 ECLIPSE AVENUE 
 JURUPA VALLEYCA 91752
SKY COUNTRY COMMUNITY
Open House Saturday 10/17/2015
Presented By
 
CELINA VAZQUEZ
BRE# 01736989
 
We Love Sky Country Community Jurupa Valley !!!!!
 
Join Celina Vazquez this Saturday, October 17th, as she showcase this California Ranch Horse Property Home for Sale in the Great Community of Sky Country Jurupa Valley. Celina Vazquez will have a loan officer onsite to be able to answer all your questions regarding financing and she personally will answer all your Real Estate Questions. 
 
 
Celina Vazquez
I Look forward to connecting with you soon!
Celina Vazquez Real Estate Broker
BRE # 01736989
More From The Listing Agent
You will love this 5 bedrooms plus office, 2 bathrooms with 2-car garage single-family pool & horse property with over 27,000 Square Feet Lot located inside of the Sky Country Community of Jurupa Valley, CA.  Featuring a large open floor plan this gorgeous California Ranch Style House features upgraded kitchen with granite counters, lots of kitchen cabinets with plenty room for all the pots and pans, double oven, tile backsplashes, large kitchen island and a breakfast bar.  The family room/ great room has a cozy gas/wood-burning fireplace and open concept to the kitchen area.  The additional 5th bedroom has an additional space next to it perfect for a home office.  Large master bedroom with a wall-to-wall closet, French doors that lead to the cover patio, large master bath with new vanity. There is a custom enclosed patio with vinyl windows and French doors giving you the extra space that you can use for entertainment room. Spend the afternoons in the cover patio that overlooks the gorgeous sparking swimming pool.  This house has new carpet, new interior and exterior paint. There is a whole-house fan, which will reduce the need for air conditioning helping you to save energy. There is an individual laundry room with connections for a full size washer and dryer and plenty space for storage. Sky Country Community is conveniently located with close proximity of the 15, 60, 10, 91 freeways.  Its location is very advantageous for business commuters who travel to major employment to Riverside, San Bernardino and Orange County. The Metrolink station-running rail serves to the greater Los Angeles area. Sky Country Community offers large estate size lots and are equestrian properties in a rural environmental but within minutes from the city. Laramore Park is an Equestrian Park located inside of Sky Country.  Jurupa Valley High School, Mira Loma Middle School and Sky Country Elementary School are the schools designated to the Sky Country Community.  Wineville & Vernola Family Parks are located within minutes of the house.  The Eastvale Gateway Shopping Center is a power center with stores like Home Depot, Best Buys, Target, Homegoods, Dress Barn, etc., and fine restaurants for dinning are just less than a mile away. The Vernola Shopping Centers with stores like Kirkland, Lowe’s, Bed Bath & Beyond, Ross, etc., are within minutes away from the Sky Country Community. The Big League Dream Park is another park just around the corner from Sky Country Community.  Horse communities are scattered throughout the Inland Empire and Sky Country is one of them. In a city where lot sizes have shrunk steadily for the past two decades, this is a great opportunity to obtain your Sky Country, Jurupa Valley home with great land.  Contact Celina Vazquez at 909-697-0823 or email at celinalvz@gmail.com to schedule a showing.
 
5050 Eclipse Avenue -Jurupa Valley CA 91752
 
 

5050 Eclipse Drive, Jurupa Valley, CA 91752 Coming Soon For Sale by Celina Vazquez

5050 Eclipse Drive, Jurupa Valley, CA 91752
Coming Soon For Sale
By Celina Vazquez 
5050 Eclipse Dr-Jurupa Valley -Celina -Vazquez- RealtorCelina Vazquez bring you another gorgeous California Ranch
Single Family House   FOR SALE.
A Gorgeous 5 bedrooms plus office, 2 bathrooms with 2-car garage single-family pool & horse property with a lot of 27,878 Square Feet located inside of the Sky Country Community in Jurupa Valley, CA.  Featuring a large open floor plan this gorgeous California Ranch Style Home features upgraded kitchen with granite counters, lots of kitchen cabinets with plenty room for all the pots and pans, double oven, tile backsplashes, large kitchen island and a breakfast bar.  The family room/ great room has a cozy gas/wood-burning fireplace and open concept to the kitchen area. Large master bedroom with a wall-to-wall closet, French doors that lead to the cover patio, large master bath with new vanity. There is a custom enclosed patio with vinyl windows and French doors giving you the extra space that you can use for entertainment room. The fifth bedroom has direct access and additional space for a home office. Spend the afternoons in the cover patio that overlooks the gorgeous sparking swimming pool.  This house has new carpet, new interior and exterior paint. There is a whole-house fan, which will reduce the need for air conditioning helping you to save energy. There is an individual laundry room with connections for a full size washer and dryer and plenty space for storage. Sky Country Community is conveniently located with close proximity of the 15, 60, 10, 91 freeways.  Its location is very advantageous for business commuters who travel to major employment to Riverside, San Bernardino and Orange County. The Metrolink station-running rail serves to the greater Los Angeles area. Sky Country Community offers large estate size lots and are equestrian properties in a rural environmental but within minutes from the city. Laramore Park is an Equestrian Park located inside of Sky Country.  Jurupa Valley High School, Mira Loma Middle School and Sky Country Elementary School are the schools designated to the Sky Country Community.  Wineville & Vernola Family Parks are located within minutes of the house.  The Eastvale Gateway Shopping Center is a power center with stores like Home Depot, Best Buys, Target, Homegoods, Dress Barn, etc., and fine restaurants for dinning are just less than a mile away. The Vernola Shopping Centers with stores like Kirkland, Lowe’s, Bed Bath & Beyond, Ross, etc., are within minutes away from the Sky Country Community. The Big League Dream Park is another park just around the corner from Sky Country Community.  Horse communities are scattered throughout the Inland Empire and Sky Country Community is one of them. In a city where lot sizes have shrunk steadily for the past two decades, this is a great opportunity to obtain your Sky Country, Jurupa Valley home with great land.  Contact Celina Vazquez at 909-697-0823 or email at celinalvz@gmail.com to schedule a showing.
We Look Forward To Connecting With You Soon!
 
Celina Vazquez Home Selling Team
909-697-0823
 
Cal BRE # 01736989
 
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Mistakes That First-Time Buyers Make

Celina Vazquez
Home Selling Team
909-697-0823 | ww.celinavazquezrealtor.com

a 35 years old man taking his head with his hand, his face expresses failure

Mistakes That First-Time Buyers Make

  • No asking the right questions can end up missing a great deal. It is important to ask lots of questions to their lender. It is important to get pre-qualified and to get an estimate of closing cost based on the approved loan amount. Not knowing the cost involved at front will cost you not to have a deal.
  • Buyers need to be alert, if they see a house that they like. They need to act quick or someone else with buy the house. Is not about selection it is a process where you eliminate needs and wants of what you look in a property.
  • Choosing the right Real Estate Agent that truly understands the home buying process. A Real Estate Agent who is dedicated to meeting your needs-before, during and after the sale.
  • If you really like the house, putting an strong offer what will look appealing to a seller will be the difference of getting your offer accepted or rejected.
  • When you are buying a home is also important to think about the resale of that home before your buy. The average first-time buyers only stays in a home for four years.

Looking for a house to buy? Click Here!

Have A Home To Sell? Get Your FREE Market Evaluation Here!

We look forward to connecting with you soon!
Celina Vazquez Homes Selling Team
909-697-0823
celinalvz@gmail.com
www.celinavazquezrealtor.com

Celina Vazquez, Realtor, Realtor in Eastvale Ca, Eastvale Realtor, 909-697-0823

Full Real Estate Services
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Putting Together A Great Open House #easvaleca #celinavazquez

Putting together a great Open House it take lot of work.
1- Selecting the right property
2- Preparing yourself
3- Preparing the owner
4- Preparing the house
5- conducting the open house with the right tools

Your need to arm your self well and have every tool available answer every question about the house that you are hosting.

Realtor Celina Vazquez covers the areas of Eastvale, Jurupa Valley, Rancho Cucamonga, Ontario, Upland, Fontana in the Inland Empire and host open houses every other weekend.

Realtor Celina Vazquez- Eastvale Realtor - Front - 12543 Black Horse St- 909-697-0823

12543 Black Horse Street, Eastvale, CA 92880

Hosting an Open House on August 31st, 2014 from 1:00 to 3:00 PM in the City of Eastvale. Stop by, Celina Vazquez Home Selling Team would love to see you there!

Celina Vazquez Realtor
Celina Vazquez Realtor

Celina Vazquez is a Real Estate Professional at Keller Williams Rancho Cucamonga Realty that specializes in the Eastvale, Jurupa Valley, Mira Loma, Rancho Cucamonga, Ontario and surrounding areas. With (over) 10 years of experience as an operation manager for a Real Estate & Property Management Company, she has a strong work ethic, extensive community and market knowledge, and effective negotiator skills.

Realtor/ Real Estate specialist in: Listing Homes, Selling Homes, Buyer Representations, Investment Properties, Residential Property Management, Luxury Homes.
Serving the areas of : Eastvale, Rancho Cucamonga, Jurupa Valley, Mira Loma, Ontario, Fontana, Corona, Norco, Riverside, Montclair, Upland, Rialto and surrounding areas.

Celina Vazquez
909-697-0823

celinalvz@gmail.com
www.celinavazquezrealtor.com