Author: mperales01

May 19, 2020

Buying or Selling a Home? You Need an Expert Kind of Guide

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.

We are, however, in anything but a normal market right now. We are amid one of the greatest health crises our nation has ever seen. The pandemic has had a dramatic impact on the journey consumers take to purchase or sell a home. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’

According to Lexico, a Sherpa is a “member of a Himalayan people living on the borders of Nepal and Tibet, renowned for their skill in mountaineering.” Sherpas are skilled in leading their parties through the extreme altitudes of the peaks and passes in the region – some of the most treacherous trails in the world. They take pride in their hardiness, expertise, and experience at very high altitudes.

They are much more than just guides.

This is much more than a normal real estate market.

Today, the average guide just won’t do. You need a Sherpa. You need an expert who understands how COVID-19 is impacting the thoughts and actions of the consumer (ex: virtual showings, proper safety protocols, e-signing documents). You need someone who can simply and effectively explain the changes in today’s process to you and your family. You need an expert who will guarantee you make the right decision, especially in these challenging times.

Bottom Line

Hiring an agent who understands how the pandemic is reshaping the real estate processes is crucial right now. Let’s connect today to guarantee your journey is a safe and successful one.

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales

May 12, 2020

Interest Rates Hover Near Historic All-Time Lows

Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level. Locking in at a low rate today could save you thousands of dollars over the lifetime of your home loan. Let’s connect to determine the best way to position yourself for a move in today’s market.

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales

May 5, 2020

#1 Financial Benefit of Homeownership: Family Wealth

While growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained how a mortgage is like a “forced savings plan.” When you pay rent, that money is lost forever. When you make a mortgage payment, much of that money accumulates as equity in the home. So, what exactly is equity?

The equity in your home is the amount of money you can sell it for minus what you still owe on the mortgage. Every month you make a mortgage payment, and every month a portion of what you pay reduces the amount you owe. That reduction of your mortgage every month increases your equity.

A recent study by CoreLogic explained that homeowners gained substantial equity over the last twelve months, and are essentially sitting on large sums of cash in their homes. In the study, Frank Nothaft, Chief Economist for CoreLogic explained:

“The CoreLogic Home Price Index recorded a quickening of home price gains during the fourth quarter of 2019, helping to boost home equity wealth. The average family with a mortgage had a $7,300 gain in home equity during the past year, and a total of $177,000 in home equity wealth.”

For most families, their home is their largest financial asset. This increase in equity drives the net worth, or family wealth, of the homeowner. Renters are not earning that benefit. Instead, they’re building the net worth of their landlord.

Bottom Line

Home price growth will moderate during the pandemic. But once a cure is available, most experts agree that home values will again begin to appreciate at levels similar to what we’ve seen over the last several years. In the long run, our family elders will be proven correct: owning a home is a savvy financial move.

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales

April 28, 2020

2020 Homeowner Wish List

We hope you and your family are still hanging in there and doing well as we begin to reopen. It’s crazy how two months have gone by. Everyday feels like a week long. All we can do is go to the grocery store, Target or Home Depot. We’re dying to finally get out and do something. Since the virus didn’t take us out, we thought for sure one of us would have strangled the other by now. I guess miracles do happen! But seriously, the most important thing is to stay safe and remain healthy. All will return to normal soon.

Having nowhere to go has given us time to read and do more research.

This week we wanted to share some information about what buyers are looking for in a home. In a recent study by realtor.com, homeowners noted some of the main things they would change about their homes to make them more livable. Not surprisingly, more space, an updated kitchen, and a home gym rose to the top of the list. If you or someone you know are thinking of selling this year, having these items in your listing might make your house more desirable than ever to potential buyers.

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales

April 21, 2020

Spring Cleaning Tips

I hope you and your family have been able to stay healthy this last month. Who would’ve ever thought we’d be living in a time like this? As weird as it seems, I think we’re getting used to it. Just have to remain focused and stay positive. One thing I like is for work most meetings are done virtually through a Zoom conference call, therefore I only have to get dressed from the waste up to be presentable for work. Hopefully no one ever asks me to stand up (Haha). I have to say, I’m very grateful for this technology because it also allows us to stay connected with family and friends. When we’re not online, we’re watching TV but there’s only so much Netflix we can handle. This weekend we started doing yard work and cleaning the pool to be ready for warmer weather. The yard work is equivalent to exercising; so killing two birds with one stone. If you need ideas to keep busy around your house here are some below. By the way, if there is anything you need let me know how I can help.

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales

April 14, 2020

How Technology Is Enabling The Real Estate Process

Today’s everyday reality is pretty different than it looked just a few weeks ago. We’re learning how to do a lot of things in new ways, from how we work remotely to how we engage with our friends and neighbors. Almost everything right now is shifting to a virtual format. One of the big changes we’re adapting to is the revisions to the common real estate transaction, which all vary by state and locality. Technology, however, is making it possible for many of us to continue on the quest for home ownership, an essential need for all.

Here’s a look at some of the elements of the process that are changing (at least in the near-term), due to stay-at-home orders and social distancing, and what you may need to know about each one if you’re thinking of buying or selling a home sooner rather than later.

1. Virtual Consultations – Instead of heading into an office, you can meet with real estate and lending professionals through video chat. Whether it’s your first initial needs analysis as a buyer or your listing appointment as a seller, you can still get the process started remotely and create a plan together. Your trusted adviser is still on your side.

2. Home Searches & Virtual Showings – According to the National Association of Realtors (NAR), the Internet is one of the three most popular information sources buyers use when searching for homes. Your real estate agent can send you listing information and help you request a virtual showing when you’re ready to start looking. This means you can virtually walk through the homes on your wish list while keeping your family safe. As a seller, you can still have virtual open houses and virtual tours too, so as not to miss those buyers looking to find a home right now.

3. Document Signing – Although this is another area that varies by state, today more portions of the transaction are being done digitally. In many areas, your agent or loan officer can set up an account where you can upload all of the required documents and sign electronically right from your computer.

4. Sending Money – Whether you need to pay for an appraisal or submit closing costs, there are options available. Depending on the transaction and local regulations, you may be able to pay by credit card, and most banks will also allow you to wire funds from your account. Sometimes you can send a check by mail, and in some states, a mobile escrow agent will pick up a check from your home.

5. Closing Process – Again, depending on your area, a mobile notary may be able to bring the required documents to your home before the closing. If your state requires an attorney to be present, check with your legal counsel to see what options are available. Also, depending on the title company, some are allowing drive-thru closings, which is similar to doing a transaction at a bank window.

Although these virtual processes are starting to become more widely accepted, it does not mean that this is the way things are going to get done from now on. Under the current circumstances, however, technology is making it possible to continue much of the real estate transaction today.

Bottom Line

If you need to move today, technology can help make it happen; there are options available. Let’s touch base today to discuss your situation and our local regulations, so you don’t have to put your real estate plans on hold.

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales

April 7, 2020

Homeowners Delay Mortgage Payments During Pandemic

How are you and your family doing through all the madness? Hopefully you are staying safe and healthy. As for us we are doing well. We are working from home and trying not to go out unless we have to. The kids are doing well, and luckily our oldest daughter Ana is able to work from home as well.

We thought we would share this link that shows how some people may be able to delay their home mortgage for up to a year. Hopefully this can help you or someone you know that is being affected by the Corona Virus outbreak.

https://money.yahoo.com/coronavirus-homeowners-delay-mortgage-payments-202251121.html

Call or message us if there is anything we can ever do for you. We would be happy to help.

Mario and Angelina Perales