Tag Archive House

Real Estate will outlast COVID-19 – Be smart and Talk to Your Realtor

Realtor Associations Forecast Changes Due to
COVID-19 Outbreak
s
As the novel coronavirus disease, COVID-19, continues to spread throughout the United States, the residential real estate market is continuing to feel the impact of quarantines and safety concerns. While it’s not clear yet how much the strong real estate market could be damaged, Realtors are already starting to field questions from clients who are concerned.
A survey from the National Association of Realtors conducted March 9-10 found that home sellers are starting to change their practices. The survey received over 2,500 responses, including over 300 from Washington State where the virus first took hold in the U.S.
The research found that nearly 1 in 4 home sellers nationwide are implementing new practices including requiring visitors to wash their hands or use hand sanitizer. Some sellers are limiting open houses and showings. The study found that the amount of sellers adopting these practices is up to 44% and 34%, respectively, in Washington State and California.
So far, 78% of Realtors surveyed saw no change in buyer interest; however, both Washington State and California saw larger decreases in buyer interest and more homes being removed from the market.

California prepares for market changes
The California Association of Realtors conducted a poll of its members March 6-9 and found that half of California Realtors are expecting a negative impact on home sales. Realtors are expecting a variety of effects to home transactions: 49% feel that the coronavirus will lead to more time on market for homes for sale while 40% feel home prices could suffer and 38% expect closings to be delayed.
Moreover, 26% of Realtors reported that they already have had clients put their home purchase or home sale on hold, and more than one-third have had clients ask about how the coronavirus outbreak could change the market.

Concerns may prompt buyers to wait
Although worries over a potential recession and an unsteady stock market shouldn’t change homebuying plans for most people, buying residential real estate is often an emotional decision where sentiment can carry the day.
This situation is constantly evolving, which means that agents are adapting to new procedures as well as spending a lot of time comforting clients who are not sure whether they should change their plans. Much depends on how much the coronavirus spreads over the next several weeks and how the economy responds as a result. Residential real estate has enjoyed a long cycle of growth. This shock to the market will be temporary. Talk to your real estate professional!

#covid-19 #realestate #homes #mortgage #itsyourmove #realtor #home #greenisleblog

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Potential of Mortgage Rates

Will mortgage rates go down in March 2020?

Mortgage rates forecast for March 2020
March should be another stellar month for mortgage rates.
Rates hit a 3.5-year low in February and are holding to similar levels.
There have been few better times to lock in a mortgage. A $300,000 home loan now costs $250 per month less than it did in late 2018, according to Freddie Mac data.
Sure, rates could go lower, but there’s much more upside to rates right now than downside.
Consider carefully whether you want to bet on lower rates

Predictions for March
March could be a wild ride for mortgage rates. Market-moving news will leave rates different than they were in February. The only question is, will they be more or less advantageous for mortgage shoppers?

Forecasts for 2020 say rates will average around 3.7%. But rates could fluctuate greatly around that range. For instance, rates could bounce between 3.5% and 4% all year, and you’d get an average of around 3.7%. But when you lock during that range is important. The good news is that 30-year fixed rates are now near 3.5% according to Freddie Mac. It’s time to consider locking in the low end of 2020’s mortgage rate range.

# mortgagerates #lending #loans #mortgage #growth #realestate #itsyourmove #realtor #home #greenisleblog

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NEW NAME – Green Isle Real Estate & Mortgage

NEW YEAR BRINGS NEW EXCITING CHANGE!!!

Green Isle has been engaged in real estate in the Greater Sacramento Area for over 13 years and has now made a HUGE addition to its expertise which will prove to be an amazing asset to any of our past, present and future clients.

We are now Green Isle Real Estate & Mortgage

Our years of experience in the changing markets coupled with the honesty and integrity we have always brought to the process will now spill over into the lending field. If you are looking to buy or refinance your property(ies), then we are here for you.

#lending #loans #mortgages #growth #realestate #itsyourmove #realtor #home #greenisleblog

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2020 Market Predictions!

2020 Real Estate Outlook: Expert Predictions For Mortgage Rates, Home Prices, Tech And More

The 2019 housing market has been one of low rates, high demand and limited supply—particularly on the lower-priced end of the market. Will 2020 be more of the same? According to experts, yes and no.

Here’s what six mortgage, real estate and housing professionals say is in store for the year to come:

Mortgage rates will stay low—or maybe go lower.
Mortgage rates currently sit at 3.75%, according to Freddie Mac’s most recent numbers—nearly a 1% difference from the monthly average a year ago. The drop in rates caused a surge in refinancing over the last few months, and purchase activity ticked up as well.
According to Odeta Kushi, deputy chief economist at title insurance and settlement services provider First American, there’s “emerging consensus” that rates will remain low next year—likely somewhere between 3.7% and 3.9%, she says.
Forecasts from Freddie Mac and the Mortgage Bankers Association back this up, both predicting 2020 rates within this range. Fannie Mae actually predicts rates will clock in even lower, vacillating between 3.5% and 3.6% throughout the year.

Prices will keep on rising.
Home prices will continue their climb upward, according to experts, largely thanks to tight inventory and high demand.
According to the latest home price forecast from property data firm CoreLogic, home prices should tick up by 5.6% by next September—up from the just 3.5% jump we saw this year.
As Daryl Fairweather, chief economist for real estate brokerage Redfin, explains, “Right now we aren’t seeing a ton of new listings. Without more listings coming on the market, there will be more competition starting off in early 2020 and that will lead to more price pressure.”
The problem will be worse on the lower end of the price spectrum. According to Ralph DeFranco, chief economist for mortgage insurer Arch MI, entry-level home prices will rise higher than incomes next year—and disappointing construction numbers will only compound the issue. It seems the price growth may continue beyond 2020, too..

Inventory will be tight.
Housing inventory is going to remain limited for much of 2020, experts say. And interest rates and record-high homeownership tenures are a big part of the problem.
According to recent data from Redfin, the average homeowner is staying in their home 13 years—up from just eight years in 2010. In some cities, homeownership tenures are as high as 23 years.
As Kushi explains, “You can’t buy what’s not for sale. While historically low rates increase buying power and make it more likely for potential buyers to attain their homeownership dream, they also increase the risk of a long-run housing supply shortage, which we predict will continue through 2020 and possibly intensify,” Kushi says. “As first-time buyers lock-in these historically amazing rates and existing owners refinance—in droves in recent months, everyone will stay put and not sell. Where’s the incentive?”
“As for building new homes, builders have a reason to be cautiously optimistic, given pent up demand stemming from a strong economy, lower mortgage rates and continued wage growth,” she says. “However, building pace still lags behind historical standards, and it will likely take months before we can begin building at a pace that will support the demand.”

Millennials will keep up their homebuying streak, while Boomers hold up inventory.
Data from Realtor.com shows Millennials made up a whopping 46% of all mortgage originations in September—up from 43% one year prior. Meanwhile, shares of Baby Boomer and Gen X mortgage activity declined.
It’s no wonder, either. Millennials rank homeownership as one of their top goals in life—higher than even marrying or having kids—and with interest rates low and incomes up, it’s the right time to buy a home for many.
The Baby Boomer generation is part of the challenge for this younger cohort, as many are choosing to age in place—keeping more homes off the market than ever before.
In fact, a recent study from Freddie Mac shows that if today’s older adults—those born between 1931 and 1959—behaved like earlier generations, then an additional 1.6 million homes would have hit the market by the end of the last year.

The suburbs will be a big draw thanks to Millennial demand.
As home prices skyrocket, cash-strapped Millennials are looking toward more affordable places to put down roots—namely smaller, suburban towns on the outskirts of major metros.
The trend has led to an uptick in “Hipsturbia” communities—live-work-play neighborhoods that blend the safety and affordability of the suburbs with the transit, walkability and 24-hour amenities of big cities.
The Urban Land Institute recently named Histurbia as one of its top real estate trends to watch in 2020. As the report explains, “If the live-work-play formula could revive inner cities a quarter-century ago, there is no reason to think that it will not work in suburbs with the right bones and the will to succeed.”

The industry will continue to digitize.
The mortgage and real estate spheres have been moving away from their manual, paper-laden processes in recent years, and 2020 will only see that trend expand further—especially as more tech-savvy Millennials enter the market.
As Hundtofte explains, “In 2020, we’ll continue to see Millennials growing their share of the mortgage market, which in turn, will serve as a catalyst to lenders to continue to rapidly innovate their technology offerings to meet the expectations of an audience more accustomed to an Amazon, Venmo-like experience.”

#2020realestatemarket #2020predictions #realestate #itsyourmove #realtor #home #greenisleblog

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Some Christmas Decorating Tips!

Just Four Christmas Decorating Trends

Who’s ready to change up their holiday decorating this year? I understand it may be difficult to branch away from the same way you’ve been decorating for years. However, these new trends may just change your mind! These Christmas decor trends offer a little something for everyone. Use these decorating trends to spruce up your home for the holidays and turn your home into one of the most magical homes in your neighborhood for Christmas.
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Buffalo Plaid For That Cozy Touch
One of the biggest trends we’re seeing this year is the use of plaid Christmas decorations. We absolutely adore these plaid decorations. We found out that plaid will remind you of those winter nights leading up to Christmas with its comfortable checkered patterns. Let the plaid on these decorations add that cozy touch to your holiday decorations. With different colors and decorations to choose from, you can find the perfect one that suits your home.

Gold & Black Are Taking Center Stage
Red and green will always be associated with Christmas, but this year black and gold are making a statement on Christmas trees and tabletops. The combination of their bold colors creates a look that people are loving for the holidays. Get the look by adding a few gold and black ornaments on the tree, or a gold Christmas tree tabletop decoration on a table. However you decorate with gold and black decorations, you will get that festive touch in your home.

Rustic Decor For That Warm Look
Modern isn’t always the look people are going for, and we’re seeing that this holiday season. We love seeing an increase in the use of more rustic Christmas decorations because it helps bring that cozy feel in any home. If you want that warm, more country look in your home this year, rustic Christmas decorations will do just that. Let the Santa figures greet your guests at the door, or add a few tabletop decorations around the house for a festive look.

Get Creative With Maximalism
Are you someone who just loves to mix and match everything? Then this maximalism decorating trend is just for you. We love seeing those bright-colored, textured, and patterned decorations all being paired together to create one beautiful indoor holiday display. Have you tried taking a traditional Christmas wreath and add some bright-colored ornaments and ribbon to it? This would definitely be a great decoration to welcome your guests with. Put your creativity to the test with this new trend, and see how well you can combine your Christmas decorations.

#christmasdecoration #holiday #christmas #family #Itsyourmove #realtor #home #greenisleblog

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Creating Positive Workplace Culture

How To Create A Positive Workplace Culture

A workplace culture is the shared values, belief systems, attitudes and the set of assumptions that people in a workplace share. This is shaped by individual upbringing, social and cultural context. In a workplace, however, the leadership and the strategic organizational directions and management influence the workplace culture to a huge extent. A positive workplace culture improves teamwork, raises morale, increases productivity and efficiency, and enhances retention of the workforce. Job satisfaction, collaboration, and work performance are all enhanced. And, most importantly, a positive workplace environment reduces stress in employees.
How can organizations create a positive workplace culture?

1. Establish clear ethos and values for the organization: It is important to have a set of clear organizational core values that are communicated effectively and discussed with the employees so that they feel part of it. It is crucial that actions are taken regularly so that the employees feel an individual and personal responsibility towards these values. This will ensure that they can evaluate their own attitudes towards these positive core values and take pride in them. Positive attitudes and positive actions make for a positive workplace culture.

2. Foster collaboration and communication: Leadership and management style that encourages teamwork, open and honest communication is vital to creating a positive feeling in the workplace. Open and honest communication also means that feedback is welcomed and opportunities for social interaction are enabled. These can include coffee mornings, team getaways and family weekends. Also, strict no tolerance open door policies and complaint procedure for workplace bullying is crucial for creating a positive collaborative environment.

3. Create an inclusive work environment: A positive workplace is one where all the employees are valued, supported. All employees should have equal opportunities to progress and equal access to all the perks and rewards on offer. An inclusive workplace is one that values individual differences in the workforce and makes them feel welcome and accepted. Include signage that supports inclusivity, is clear and positive.

4. Create clear goals and rewards for the employees: A survey by Deloitte showed that 83% of executives and 84% of employees rank having engaged and motivated employees as the top factor that substantially contributes to a company’s success. Motivated and engaged employees can be created if they are treated equally and have clear goals that they can work towards. Having a transparent policy for progression and promotion offers the staff an opportunity to measure their performance. When goals are positively reinforced, and achievements are recognized and celebrated, it leads to employees feeling valued which in turn creates a positive feeling in the workplace.

A positive culture in the workplace is essential for fostering a sense of pride and ownership amongst the employees. When people take pride, they invest their future in the organization and work hard to create opportunities that will benefit the organization. By identifying and rewarding those who are actively striving towards creating a positive work culture, and supporting others around them, companies can encourage others to do the same. Positive attitudes and behavior in the workplace are the direct results of effective leadership and a positive management style.

#thanksgiving #family #Itsyourmove #house #realtor #home #realestate #broker #greenislepropertiesblog

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Happy Thanksgiving!

Thanksgiving offers us an annual pause from the pace of life to return to places we do not often visit and gather with people we do not often see.

The event that Americans commonly call the “First Thanksgiving” was celebrated by the Pilgrims after their first harvest in the New World in October 1621. This feast lasted three days, and—as accounted by attendee Edward Winslow—it was attended by 90 Native Americans and 53 Pilgrims.

#thanksgiving #family #Itsyourmove #house #realtor #home #realestate #broker #greenislepropertiesblog

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Why Buy or Sell Real Estate in winter months?

5 Surprisingly Smart Reasons to Buy a Home During the Holidays

Turkeys and tinsel, dreidels and pumpkin pie. Yes friends, the holidays are here again, and it’s the perfect time for … house hunting? OK, I know you’re busy enough planning family feasts and much-needed vacations while dealing with blustery weather, but hear me out. While it might seem counterintuitive to put a big-ticket item like a home on your holiday shopping list, it really does make sense. Don’t believe me? Check out these surprisingly smart reasons to let everyone else hit the mall to buy half-off sweaters while you make the purchase of a lifetime: a new house to ring in the New Year.

1. Less competition from home buyers
Most buyers take the month off to celebrate the holidays, attend parties, host out-of-town guests and, quite frankly, avoid trudging around in inclement weather to look at houses. Or, maybe they’ve heard that this is a lousy time to buy a house. Whatever the reason, shopping for real estate at a time when fewer buyers are in the market can pay off big.

2. Motivated home sellers
The December seller is likely to be serious and motivated—and therefore more open to negotiation. So what you might lack in choice of available homes could be balanced out by dealing with a more flexible seller.
Most sellers have a compelling reason for putting their house on the market during the holidays. Many sellers might also want a contract in hand for tax advantages. If it’s a rental property on which they incurred a loss, they are likely to want to take the deduction this calendar year.

3. Tax advantages
In case you weren’t aware, the tax benefits go both ways. Buying now can help you save in April and beyond. Homeownership brings numerous tax perks, from deducting mortgage interest to property taxes. Some states also might have a homeowner’s tax exemption. Also, many closing fees are tax-deductible if you itemize—although you should always double-check with your accountant about any tax questions.

4. A realistic picture of the house
What house doesn’t look amazing in the typical spring buying season, with newly planted flowers and plenty of sunlight streaming through the windows? Checking it out during the winter season, on the other hand, might give you a more accurate idea of what you might be living with the rest of the year. In addition to seeing the house, warts and all, you can check for issues that you’d notice only during cold weather. Of course, don’t forget that issues that crop up more during summer will be less accessible—such as how well the air conditioning works, so make sure that your home inspector does a thorough job on those fronts, too.

5. Greater accessibility to professionals
Since December is usually a slower month all around, you will have easier access to movers, inspectors, mortgage brokers, etc. In addition, motivated real estate agents will bend over backward to provide service with fewer client demands and will share your desire to get it done and in the books before the new year rolls around. Ditto on your mortgage broker, who is bound to speed your closing through

#homebuying #homeloans #Itsyourmove #house #realtor #home #realestate #broker #greenislepropertiesblog

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Avoid home-buying challenges

7 Home Buyer Challenges
& How to Avoid Them


1. Not figuring out how much house you can afford

Without knowing how much house you can afford you might waste time. You could end up looking at houses that you can’t afford yet or visiting homes that are below your optimal price level. For many first-time buyers, the goal is to buy a house and get a loan with a comfortable monthly payment that won’t keep them up at night.
How to avoid this mistake: Sit down with a mortgage professional to help determine what price range is affordable, what’s a stretch and what’s aggressive.

2. Getting just one rate quote
Shopping for a mortgage is like shopping for a car or any other expensive item: It pays to compare offers. Mortgage interest rates vary from lender to lender, and so do fees such as closing costs and discount points. But according to the Consumer Financial Protection Bureau, almost half of borrowers don’t shop for a loan.
How to avoid this mistake: Speak with multiple mortgage lenders. All mortgage applications made within a 45-day window will count as just one credit inquiry.

3. Not checking credit reports and correcting errors
Mortgage lenders will scrutinize your credit reports when deciding whether to approve a loan and at what interest rate. If your credit report contains errors, you might get quoted an interest rate that’s higher than you deserve. That’s why it pays to make sure your credit report is accurate.
How to avoid this mistake: You may request a free credit report each year from each of the three main credit bureaus. You may dispute any errors you find.

4. Ignoring VA, USDA and FHA loan programs
A lot of first-time home buyers want to or need to make small down payments. But they don’t always know the details of government programs that make it easy to buy a home with zero or little down.
How to avoid this mistake: Learn about the following loan programs:
• VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs. They’re for people who have served in the military. VA loans’ claim to fame is that they allow qualified home buyers to put zero percent down and get 100% financing. Borrowers pay a funding fee in lieu of mortgage insurance.
• USDA loans can be used to buy homes in areas that are designated rural by the U.S. Department of Agriculture. Qualified borrowers can put zero percent down and get 100% financing. You pay a guarantee fee and an annual fee in lieu of mortgage insurance.
• FHA loans allow for down payments as small as 3.5%. What’s more, the Federal Housing Administration can be forgiving of imperfect credit. When you get an FHA loan, you pay mortgage insurance for the life of the mortgage, even after you have more than 20% equity.

5. Emptying your savings
If you buy a previously owned home, it almost inevitably will need an unexpected repair not long after. Maybe you’ll need to replace a water heater or pay a homeowner’s insurance deductible after bad weather.
How to avoid this mistake: Save enough money to make a down payment, pay for closing costs and moving expenses, and take care of repairs that may come up. Lenders will give you estimates of closing costs, and you can call around to get estimates of moving expenses.

6. Shopping for a house before a mortgage
It’s more fun to look at homes than it is to talk about your finances with a lender. So that’s what a lot of first-time home buyers do: They visit properties before finding out how much they are able to borrow. Then, they are disappointed when they discover they were looking in the wrong price range (either too high or too low) or when they find the right home, but aren’t able to make a serious offer.
How to avoid this mistake: Talk to a mortgage professional about getting pre-qualified or even preapproved for a home loan before you start to seriously shop for a place. The pre-qualification or preapproval process involves a review of your income and expenses, and it can make your bid more competitive because you’ll be able to show sellers that you can back up your offer.

7. Miscalculating repair and renovation costs
First-time home buyers are frequently surprised by high repair and renovation costs. Buyers can make two mistakes: First, they get a repair estimate from just one contractor, and the estimate is unrealistically low. Second, their perspective is distorted by reality TV shows that make renovations look faster, cheaper and easier than they are in the real world.
How to avoid this mistake: Seek more than one estimate for expensive repairs, such as roof replacements. A good real estate agent should be able to give you referrals to contractors who can give you estimates. But you also should seek independent referrals from friends, family and co-workers so you can compare those estimates against ones you receive from contractors your agent refers.

#homebuying #homeloans #Itsyourmove #house #realtor #home #realestate #broker #greenislepropertiesblog

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NOT the same old Rent vs. Buy!

READY, PRE-APPROVE, SEARCH, GO!!!
Renting a place to live may give you the freedom to move when you want and relieve you of the responsibilities of homeownership, but at some point, most people yearn for their own home. Buying a house is a good way to start building financial security. As you pay down the mortgage, you build up home equity, which is a valuable financial resource.
Mortgage rates are low right now, so if you think you’re ready to buy a home, it’s a good time to make the move.
Deciding whether to rent or buy a home is a major decision. How do you know you’re ready? Here are eight signs that you’re ready to make the switch from renter to homeowner.

1. You’re tired of rising rent prices.
Rental prices are on the rise nationwide, according to Apartment Guide, which tracks trends in the rental market. The average rent on a one-bedroom unit climbed 4.2 percent in 2018, to $1,140; two-bedroom units rose to $1,354 and studio apartments rose 5 percent to $1,065. Rising rent makes it harder to budget for monthly housing costs and to save for other financial goals. When paying rent begins to feel like a bad investment and you want to build equity for the future, it’s time to figure out what loan you qualify for.

2. Your credit score has improved.
Some renters are locked out of homeownership because they can’t qualify for a mortgage. A low credit score is a common reason why renters can’t make the leap to purchasing a home. A history of late payments and too much debt will hurt your score. One sign that you’re ready to buy a home is having a healthier credit score. Although borrowers with a credit score as low as 500 can qualify for some home loans, they will be required to make bigger down payments and pay higher mortgage rates. A good credit score gets you better interest rates and loan terms.

3. You’re good at managing debt.
Another thing lenders look at when screening mortgage applicants is their debt-to-income ratio, or DTI. This is a key metric that’s calculated by adding up all monthly debts, then dividing the sum by your gross monthly income. The higher your DTI ratio, the more risk you pose to a lender. Some conventional loans allow a DTI ratio of up to 50 percent, but many lenders prefer a ratio of no more than 43 percent. If you previously had a high DTI ratio and have since paid off some high balances, you’ll be in a stronger position to get a mortgage.

4. You have enough set aside for the extra costs of owning a home.
When a pipe bursts or the air conditioner goes out in a rental unit, you don’t have to worry about paying for it; that’s the landlord’s responsibility. When owning a home, those costs are your responsibility. If your income has risen or you’ve been able to set aside savings, you might realize you have enough extra money to handle the added expenses of homeownership.

5. You can afford the down payment and closing costs.
The down payment requirement depends on the type of home loan you get. For conventional loans, 20 percent down is usually required if you want to avoid paying private mortgage insurance, or PMI, but lower down is available with PMI available. Some mortgages insured by the Federal Housing Administration, known as FHA loans, require just 3.5 percent down. Fannie Mae and Freddie Mac back some mortgage products that require just 3 percent down; and loans guaranteed by the U.S. Department of Veterans Affairs and the U.S. Department of Agriculture (USDA) require no down payment.

6. You’re ready to settle down in one place.
Buying a home involves upfront costs that can take a few years to recoup, so if you anticipate moving before you can recover those costs, homeownership might not be right for you. No one works at the same company for decades anymore, but a renter who is ready to buy a house should have job security. A stable job means stable income, which lowers the risk that you will stop making your mortgage payments and default on the loan.

7. You’re going through a major life change.
Many renters decide to purchase a home after a major life event, such as getting married. Marriage, a growing family, a new job and children leaving the nest are catalysts for people to buy a home.

8. You know what you want.
It’s smart to have a good idea of the area or neighborhood you want to live in and the type of home you want before you begin your quest. Houses, townhouses, condos, co-ops, duplexes—there are lots of options out there and each one has its own considerations for costs, upkeep and personal enjoyment. Determine what you need and what is most important to you. Is it being near a good school or within walking distance of your job? Do you mind navigating stairs or having neighbors live above you? Do you want lots of amenities?

Ready to Leave Renting Behind? Here’s What to Do Next
Before you start looking at homes for sale, shop around, get pre-approved for a mortgage with Green Isle so we can set our sights on the right, affordable properties that meet all of your criteria for you and your Family. We can also discuss what loan is right for you at this point in your life. We can look at conventional loans of 15 or 30 years, VA loans with zero down, FHA loans with 3.5% down payment, etc.

#rentvsbuy #Itsyourmove #house #realtor #home #realestate #broker #greenislepropertiesblog

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