Simple Steps to Reduce Your Leisure Village Mortgage Costs

Simple Steps to Reduce Your Leisure Village Mortgage Costs

 

Mortgage rates may rise or fall this spring (lately they seem to be falling!)—but that needn’t prevent you from saving even more money when it’s time to structure your own Leisure Village mortgage. The underpublicized fact is that mortgage rates are only one of the factors that affect how much you wind up paying. No matter what happens to mortgage rates in 2014, here are some keys to making mortgage decisions that result in significant savings:

 

Tailor the term

Evaluate your budget and see whether it is possible to increase the amount of your monthly payment. By increasing monthly repayments, you reduce the term of your Leisure Village mortgage. Over the course of the loan, this can save tens of thousands of dollars.

 

Refinance for five years instead of two

The interest you pay on a refi loan isn’t the only cost. The origination and other fees can easily end up costing four figures. It’s a numbers game: simply calculate the anticipated savings from refinancing, then subtract the amount of the fees. The difference tells you your net savings…and demonstrates why one of the easiest ways to grow those savings is to refinance less frequently.

 

Change to biweekly

Changing to biweekly payments instead of monthly payment can save you more than small change. The reason is on the calendar: there are 52 weeks in a year, but only 12 months. If you make 26 1/2 payments every year, that equates to 13 monthly payments. It’s a stealthy way to make an additional month’s payment every year without really noticing it. When choosing a loan, opt for one where the bank allows you to choose biweekly payments (as long as they don’t want to charge an additional fee). Also request that the extra payments be deducted from the principle.

 

Improve your credit score

On this count, every mortgage guru sounds like a broken record. Although the average quoted mortgage rate may rise or fall, that’s not necessarily the rate that you pay. Your FICO score is the primary determinant of your Leisure Village mortgage rate. The difference between a good FICO score and a bad one can be significant, so get a copy of your credit card record and challenge any damaging inaccuracies. Lenders want to see a long history of paying on time with a mixed use of credit.

 

Mortgage rates in Leisure Village will almost certainly increase in the future because they’re still well under historical averages. But there are plenty of steps you can take to cut thousands of dollars from your ultimate Leisure Village mortgage costs. And if you are ready to buy a house in Leisure Village this spring, contact me today—I’m ready to show you what’s coming up at your price point!

 

Credit Score Vigilance Rewards Future Leisure Village CA Homeowners

Credit Score Vigilance Rewards Future Leisure Village CA Homeowners

 

Your credit score will have a major impact when it comes to the cost you wind up paying for a Leisure Village CA mortgage. A buyer with a high credit score of 750 or above will qualify for the most competitive interest rates available; but today’s tightened lending standards mean that some borrowers with scores under 600 may not qualify for a mortgage at all. And no matter what, a low credit score can mean paying an extra 3%-4% interest charge on every payment.

 

There is nothing permanent about a credit score. Leisure Village CA homebuyers who realize its importance—and who take early steps to improve their own—can save literally thousands of dollars.

 

1.   You can’t improve your credit score until you know what you are working with. Your first step is to obtain your credit reports. They are available for free once a year from each of the three major reporting agencies: Equifax, Experian and Trans Union.

 

2.   The fastest way to improve your credit score is to correct any inaccuracies. Because this takes time – anywhere from 30 days to as long as six months, the earlier you begin the process, the better. To remove items that are incomplete or inaccurate, verify the correct information using the dispute procedure on the agency’s website. The creditor has 30 days in which to validate the debt; if the credit agency does not receive a response to your claim, they are required by law to remove the entry from your report. Remember that there are three major agencies, so an incorrect item may appear on all three— and all three need to be contacted.

 

3.   If you have an older credit card that you haven’t been using for a while, it’s a good idea not to cancel it; even to use it now and again, paying the balance in full. This will mean that the issuer keeps reporting information to the credit bureau, which can be valuable. A longer credit history improves your credit score.

 

4.   A low credit utilization ratio measures how much of your available credit you are using. In order to improve your credit score, keep your credit utilization ratio below 20%. One way to quickly improve a utilization score is to move credit card debt onto cards with higher limits. While this will not make a difference to the amount that you owe, it will alter individual cards’ credit utilization ratios.

 

5.   Consider a Personal Loan. If you have a family member or friend that you can borrow from, consider taking out a loan in order to pay down a portion of existing debt. By removing some of that debt, you can give your credit score a boost.

 

6.   Moving away from being measured as a poor credit risk has the biggest impact on whether a future mortgage is approved—and how much interest you wind up having to pay. Your credit score in Leisure Village CA really matters! If you would like an introduction to a mortgage broker to begin the conversation about the home loan your current credit score qualifies you for, contact me today.

Beyond Spring Cleaning: Inexpensive Renewal Ideas

Beyond Spring Cleaning: Inexpensive Renewal Ideas

 

With Spring in the air, you don’t have to have your Leisure Village home for sale to catch the spring cleaning bug. Whether or not you’ve been cooped up inside for a longer-than-usual siege of the wintertime blues, as soon as the weather turns the corner, there seems to be a natural urge to open the windows and start freshening your place up.

 

Spring also brings the traditional hot selling season, and if you’re among those getting ready to list your own home for sale to take advantage of it, you’ll want to add extra attention to the traditional cleanup. Home for sale or not, you can channel some of your annual sprucing-up energy with one of these light renovation ideas. Each can add new zest to your living areas without breaking the bank:

 

·       If you want to liven up your kitchen or bathroom but don’t want to shell out for the full cost of replacing the cabinets or doors, consider what simply changing the hardware would do. Take a trip to the hardware department, pick out a sample knob or pull, then test what the change would look like. Sometimes this simple transformation adds a surprising degree of sparkle!

 

·       If your lighting fixtures are looking a bit dated and dingy, one simple fix is to buy new lampshades. Replacing a whole lamp is expensive and often unnecessary—and new shades can make a much more resounding impact, anyway. If you are planning to put your home for sale on the Leisure Village market anytime soon, best opt for white or cream. Keeping the look bright yet neutral gives you a proven selling advantage.

 

·       In any room where years of wear and tear have created smudges that no amount of elbow grease can remove, think about painting with a change of color.  It may be a bit more ambitious and costly, but whether you hire pros or do it yourself, the result can make you feel like you’re in a whole new home. As with the lampshade selection, resist the temptation to get overly exuberant and creative: choose neutral color combinations.

 

·       If new furniture is not yet called for (or beyond this year’s budget), consider calling in the pros for some upholstery cleaning; then adding new accent pillows.  If your existing pillows are in good shape, sometimes just a few new pillow covers can freshen up a room’s whole look. Designers sometimes recommend picking just one bright color and keeping with it throughout the house.

 

You don’t have to be planning to list your home for sale in Leisure Village to make 2014’s spring cleaning efforts a self-satisfying success. And if you’re planning to list, I have a host of other preparation tips…and a marketing plan designed to bring top results!

16205 Village 16, Leisure Village CA Home for Sale - Rare Free-Standing

Adopt a Staging Mindset for Your Own Leisure Village Home Sale

Adopt a Staging Mindset for Your Own Leisure Village Home Sale

 

With spring already upon us, we stand at the threshold of Leisure Village’s first major selling season of 2014. If you are preparing to add your own property to the Leisure Village home listings, the International Association of Home Staging Professionals would like to draw your attention to some statistics that bolster their members’ proposition. None is more compelling than this one: non-staged homes remain 79 days longer on market than their professionally-staged neighbors.

 

Still, since not everyone hires a professional staging company to work their magic, you’d think there would be a few DIY alternatives that would well worth doing. Of course, there are: and some go beyond the most well-known staging rules that are basic to any home sale:

 
1. De-clutter (then de-clutter again). The stagers’ single most important line item remains this: de-clutter. There is little cost to de-cluttering a home (usually no more than a storage unit’s rental). The professional insight is that once you have done it, go back through the house and do it again! That second round might only involve boxing up a few remaining personal knick-knacks, but it can also suddenly reveal items that clash with a room’s overall color palette.

 
2. Light(en) it up: Neutral colors are the rule for staging a home, but good light can be equally important. Make sure every room is well-lit, with clean windows, bright light bulbs (some do dim over time), and plenty of lamps or fixtures. If possible, disperse the height of lighting sources by mixing floor and table lamps, windows and overhead fixtures.

 
3. Find the focal points: The largest item in the room does not always have to be the focal item. If you have an antique chest or a captivating painting, see if you can arrange the room so that it’s the first thing your eye picks up as you enter the room. A strong focal point gives a sense of character to a room. It works to your advantage, since the focal point naturally emphasizes the strongest feature of the room.

These are approaches that do take some time and effort—but imaginative staging really does make an impact on perceived value, and, as a result, time-on-market. For more Leisure Village home selling insights, give me a call anytime to discuss your own real estate plans!

Slow and Steady Price Rise boosts Housing Market Outlook

Slow and Steady Price Rise Boosts Housing Market Outlook

 

The details seem stubbornly worrisome. Mortgage requirements have grown stricter. The Federal Reserve may or may not turn off the cheap money spigot—and if anything causes the stock market to sputter, its uncertainty. Occasional bits of good news in the labor picture can’t overcome the fact that unemployment remains stuck on high in many states.

 

All of this should be bad news for the housing market in Leisure Village, except for one overriding factor: apparently, American consumers aren’t buying it.

 

Despite uncertain economic news, consumers’ overall expectations for the housing market remained steady. The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations, issued last week, found that most expect home values to continue to climb through 2014. The uncertainty factor remains largely stuck in neutral, pretty much as it has for most of 2013.

 

The survey found more nuggets of good news likely to affect the Leisure Village housing market. There was no reported change from last month’s report that close to 20% of respondents say they are likely to change residences in the coming year…similarly, the previous month’s finding that 44% predict their personal wealth will increase remained steady. Taken together, the two factors could likely indicate that a healthy number of home buyers will be looking for housing of greater value than that at their current address.

 

Fannie Mae’s most recent monthly National Housing Survey echoed the positive findings among consumers: “Notably, respondents’ home price expectations climbed significantly in February—with 50% saying home prices will go up in the next year…” Their finding of more volatile consumer attitudes was mainly attributed to momentarily high energy expenses caused by unexpectedly frigid winter weather.

 

Whether or not the national statistics accurately reflect local consumer dispositions, they provide a backdrop that bodes well for the impending spring selling season. Soon we’ll be entering the time of year which traditionally results in a considerable uptick in Leisure Village’s housing market activity – which may be prime time for determining whether this is the moment to make a change in your own residential outlook. For more pinpointed, up-to-the-moment details about your own neighborhood’s housing market profile, give me a call!

Leisure Village Camarillo Home for Sale - 17143 Village 17 www.ILoveLeis...

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New Fed Leadership Will Affect Leisure Village Home Loan Rates

New Fed Leadership Will Affect Leisure Village Home Loan Rates

 

On January 6, the Senate confirmed Janet Yellen to head the Federal Reserve’s Board of Governors, making it the first time ever that a woman has led the nation’s most important financial institution. In some respects, it makes her the most powerful woman in the United States.

 

As with every personnel change in the Fed, Yellen’s rise has fostered plenty of concerns about the direction the Federal Reserve will take under her leadership. Since it’s the institution that determines the federal funds rate—which in turn dictates how much businesses and individuals pay for their loans—any change in Federal Reserve policy has a significant impact on our Leisure Village home loan rates. Sooner or later, those rates affect just about all of us.

 

So, what clues do we have about the direction Ms. Yellen is likely to lean? One came just before the financial crisis. Before the financial meltdown, Yellen expressed concerned. In 2005 she is quoted as saying, “Analyses do indicate that house prices are abnormally high, that there is a “bubble" element, even accounting for factors that would support high house prices."

 

Last year was an excellent one for Leisure Village real estate, yet according to the Standard & Poor’s Case-Shiller Index, national housing prices are still 20% off the peaks set in 2006. Research from real estate website Trulia shows that U.S. housing is still 4% undervalued (compared with a 39% overvaluation reached at the 2006 peak). Happily, Yellen, an early identifier of the previous housing bubble, has not expressed similar concerns about today’s real estate market.

 

In 2012, the Federal Reserve’s previous leadership announced an unemployment threshold of 6.5% as the point at which it would consider raising interest rates. During Yellen’s first testimony as Chairman, she stated that the Federal open market committee would likely keep interest rates near zero well past that mark. In Yellen’s view, the “recovery in the labor market is far from complete.” As evidence, Yellen pointed to 7.1 million people who are mired in part time work but who would prefer full time jobs—and to the 3.6 million people who have been unemployed longer than six months.

 

For Leisure Village home loan rate watchers concerned that a rise in rates might dent real estate values, the new Chairman has sounded some reassuring notes. In her recent address to the Committee on Financial Services, Yellen explicitly stated that she expects “a great deal of continuity in the FOMC’s approach to monetary policy.”  That could mean that interest rates for local home loans might gradually rise, it’s not likely to be precipitous.

 

The bottom line: dramatic rises in interest rates are unlikely under Yellen’s watch, but those considering getting a home loan who have not yet taken advantage of still low interest rates might do well to consider doing so.

Things Your Leisure Village Camarillo Real Estate Agent Thinks You Should Know

Things Your Leisure Village Real Estate Agent Thinks You Should Know

Real estate agents in Leisure Village are true veterans when it comes to every aspect of what needs to take place for a home to be sold. We know in advance what all the pieces of the puzzle are, and what needs to be done for them to fit together properly. We’ve also seen why some homes stay on the market for too long, while others get snatched up right away. And the best part is—we want our clients to know all those same things!

Every rule may be made to be broken, but here are three generalities that just about every Leisure Village real estate agent will probably agree are worth knowing:

1. Where speed is important, price your house just under the market. As real estate values strengthen, sellers are growing more confident about the value of their offerings—even as prospective buyers continue to believe it’s a bargain-hunter’s market. That’s a terrific opportunity for sellers who realize that by simply setting their asking price just below what an optimistic, “let’s just see what happens” price, they can peg their offering to attract the serious buyers ASAP. It’s axiomatic: the longer a house is on the market, the less likely it is to close at its asking price. The best strategy, always: sell as quickly as possible.

2. A buyer needs to walk into your house and find that it looks great. It may seem like a trivial detail to you, but real estate agents in Leisure Village know that even incidental atmospherics—little things that you’d think a buyer would know they can easily rectify—can instantaneously repel buyers. So make your home smell great! Establish a clean, fresh scent and be diligent in renewing it for every showing (after making sure any clutter is tucked away!)

3. Your Leisure Village real estate agent will help speed the process of selling your home, but there are some parts of the timeline that can’t be rushed. Know in advance: the process takes time. It takes time to get your home in shape, make the necessary repairs, list it on the market, negotiate an offer, then proceed through all the paperwork, observing successive deadlines set to allow proper execution. Here’s another area where your real estate agent will be a great resource for dependably establishing exactly what to expect—and when to expect it.

If you will be seeking the right Leisure Village real estate agent to make this spring your own hot selling season, I’m standing by to make it happen. Call me!

Relocating to Leisure Village Camarillo, Your New Neighborhood

Relocating to Leisure Village Camarillo, Your New Neighborhood

 

When searching for a new house, topping most people’s list of requirements are the number of bedrooms, number and configuration of bathrooms, square footage, yard size—characteristics that are easy to compare. Architectural style might be important; asking price, certainly highly important, although many prospective buyers assume some wiggle room might be possible.

 

There are so many facts to consider, particularly when that new home might include relocating to Leisure Village Camarillo, that one extremely important factor sometimes gets short shrift: the neighborhood.

 

When I escort my clients on a tour of the properties they have decided to check out, I’m sure to remind them to observe the surroundings as well as the home. Some key details to observe about a neighborhood when relocating to Leisure Village Camarillo:

 

Noise levels will vary by hour and day. If at all possible, visit candidate properties at different times of day and night to get a feel for the noise level in the neighborhood. Is there a lot of traffic and honking? Trucks passing by? If so, does the traffic layout make them hit their brakes or upshift frequently? Is there a church nearby that fills the street with cars on Sunday? Will that be okay—or an annoyance? Are there noisy restaurants or pubs that might keep you up late at night on weekends? When you are relocating to a new area and can’t visit often, talk to some neighbors: they have the real scoop!

 

Even if you don’t have kids, it’s important to learn the reputation of the area’s school district: it will affect the resale value. Homes in better school districts are more desirable, and merit higher price tags as a result.

 

The Internet is a terrific asset when it comes to scoping out crime maps and reports for specific areas—often with free up-to-the-minute information and alerts on crime rates. A chat with neighbors can also help you sense the level of concern—or, ideally, the lack of it.

 

As you approach an area, notice whether the road quality improves or falls off as you get closer. If the streets are crumbling and filled with potholes, community services may be suspect. Are the public parks grassy and clean? How handy are the nearest hospital, fire department and police stations? Before relocating to Leisure Village Camarillo, see if you can tell which neighborhoods seem to be on the rise. Any obvious trend has a good chance of continuing in years to come.

 

Relocating to Leisure Village Camarillo - even if just from one end of town to another—is an exciting prospect!  If you’re looking to buy a home in Leisure Village Camarillo this spring, it’s time I got on your radar.  Call me today!