2013 Real Estate in Southern California

As all numbers and trends indicate the real estate market is going to travel upward. Even if we fly from the Washington DC man made cliff.

How up? Nobody knows. My advice to my clients is buy now if you can. Environment is perfect. Low interest & low property prices. What else do you need?

Program like Homepath and FHA required low down payment ( 3% down payment) to purcahse. Just remember, by renting, you pay your landlord mortgage every month. You can change this by seriously thinking to buy your first home. Unlimited resources are available online & offline. If you have solid job and you are paying your rent on time every month, most likely you can buy. (yes, lots of other factors will be considered, but your job and ability to pay your monthly mortgage are the most important of all). 

Note: In California, seller pays for your real estate agent fees. So, is unforgivable not to call an real estate expert to help you.

Always... Unconditionally... Follow your heart

When with your family these holidays, really be with them, stay in the moment, share the smiles, feel the warmth, and you will feel the spirit within fill your heart with joy and love.............

Should You Consider refinancing?

Facts are:

1. Mortgage rate is at historical lows now (at the time of this posting Dec. 2012). 

2. All indication shows upward trend for mortgage rate.

3. Banks are issuing credit for qualified applicants.

So, why not consult with mortgage professional to see if you can refinance your loan. See if you are not under the water. Meaning your value of home is NOT less than you value of your loan, than you need to refinance imminently before hike up. Take advantage of this low rate. If your rate is higher than 5% you should refinance and save some money every month. PLEASE CONSULT WITH MORTGAGE SPECIALIST. Check current mortgage rate here Catalyst Lending where I am affiliated with. Also, Email me if you need to determine your home value or CMA (comparable Market Analysis). This is a FREE service I provide for all my clients.

Happy Holiday

Wow, 2013 is here. Real estate market is already shows signs of improvement.  We are at the bottom of real estate parabola curve and trending upward. I think is the best time to invest in real estate. Prices are low and interest rate is low. These two ingredients are barely low the same time. What a buyer wants?  I wish you happy holidays. I will continue to write about all aspect of real estate and home loan in 2013. Please visit this blog often as I provide useful information for both buyers and sellers. 

November 2012 Real Estate Activity report for LA & OC

According to PWR (Pacific West Association of Realtors) New Listings were down 12.9 percent for detached homes and 19.5 percent for attached properties. Pending Sales increased 47.3 percent for single-family homes and 37.9 percent for townhouse-condo properties.  Please note that PWR covers only Los Angeles and Orange Counties. 
See complete report. 

You can find many charts and figures to show the market trend. It is very useful if you are investors or first time home buyer. I highly recommend you spend a little time and review it. 
I am hoping the information I provide is useful to you and improves your investment strategy. 

How Much Home Can You Afford?

In order for you to determine how much you can afford for a home, you first need to understand the standard debt-to-income ratio. Lenders call this the Front & Back ratio. There is an easy way to figure out how much you can afford, which will give you an idea for a quick estimate.

 $_____ (your monthly rent) x 200 = $_____ (this is about how much you can afford)

Front-end ratio: The housing expense, or front-end ratio, shows how much of your gross (pre-taxed) monthly income would go towards your mortgage payment. The result is your maximum housing expense ratio. 

Back-end ratio: The total debt-to-income, or back-end ratio, shows how much of your gross income would go toward all of your debt obligations, including mortgage, car loans, child support and alimony, credit card bills, student loans and condominium fees. In general, your total monthly debt obligation should not exceed 36 percent of your gross income. To calculate your debt-to-income ratio, multiply your annual salary by 0.36, then divide by 12 (months). The result is your maximum allowable debt-to-income ratio. 

Now you can try this Affordability Calculator to determine your own scenario very easily.

Seal Beach OC Local Market Update for November 2012

The City of Seal Beach is a Charter City located in Orange County, California. Seal Beach sits on the coast as the gateway to Orange County between the cities of Long Beach and Huntington Beach. The City of Seal Beach is well known as a quaint, small-town atmosphere. City programs, non-profit groups and businesses provide a variety of services, exciting events and activities in which residents can participate and enjoy. Read More




See Seal Beach Market Update for November 2012