Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 23, 2021

Is It Time To Move on to a New Home?


Disponible en español AQUI

 

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First Americanhomeowners are staying put much longer than historical averages (see graph below):

Is It Time To Move on to a New Home? | MyKCMAs the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure.

To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance eally explores some of the primary reasons individuals choose to sell their houses. It says:

“People who move for home-related reasons might need a larger home or a house that better fits their needs, . . . Financial reasons for moving include wanting a nicer home, moving to a newer home to avoid making repairs on the old one, or cashing in on existing equity.

really If you’ve been in your home for longer than the norm, chances are you’re putting off addressing one, if not several, of the reasons other individuals choose to move. If this sounds like you, here are a few things to consider:

If your needs have changed, it may be time to re-evaluate your home.

As the past year has shown, our needs can change rapidly. That means the longer you’ve been in your home, the more likely it is your needs have evolved. The Balance notes several personal factors that could lead to your home no longer meeting your needs, including relationship and job changes.

For example, many workers recently found out they’ll be working remotely indefinitely. If that’s the case for you, you may need more space for a dedicated home office. Other homeowners choose to sell because the number of people living under their roof changes. Now more than ever, we’re spending more and more time at home. As you do, consider if your home really delivers on what you need moving forward.

 

It's often financially beneficial to sell your house and move.

One of the biggest benefits of homeownership is the equity your home builds over time. If you’ve been in your house for several years, you may not realize how much equity you have. According to the latest Homeowner Equity Report from CoreLogic, homeowners gained an average of $33,400 in equity over the past year.

That equity, plus today’s low mortgage rates, can fuel a major upgrade when you sell your home and purchase a new one. Or, if you’re looking to downsize, your equity can help provide a larger down payment and lower your monthly payments over the life of your next loan. No matter what, there are significant financial benefits to selling in today’s market.

 

Bottom Line

If you’ve been in your home for 5-10 years or more, now might be the time to explore your options. Today’s low rates and your built-up equity could provide you with the opportunity to address your evolving needs. If you feel it’s time to sell, let’s connect.

 

Posted in For Seller's
Sept. 22, 2021

Wednesday Quote

"Don't wait to buy real estate, buy real estate and wait" - Robert G. Allen 9.22.21

 

Yes! Buying a property now is a great investment that helps you grow your wealth year after year.

We have seen many of our clients flourish through their equity and accomplish financial stability.

 

Are you ready to make your property work for you? Contact us TODAY to start your journey to financial wealth.

 

Posted in For Buyer's
Sept. 22, 2021

Happy Fall!

"And all at once, Summer collapsed into Fall" - Oscar Wilde

 

Fall is finally here! What do you love about fall?

 

Posted in Holidays
Sept. 21, 2021

L.A. Clippers break ground on $1.2-billion arena in Inglewood

Four years after announcing plans to decamp from Staples Center to a new home in Iglewood, the Los Angeles Clippers have broken ground on a new arena at the intersection of Century Boulevard and Prairie Avenue.

Aerial view of the Intuit Dome looking south - Los Angeles Clippers

The 18,000-seat arena, scheduled to open in time for the 2024-2025 NBA season, will be named the Intuit Dome as part of a 23-year naming rights agreement with Intuit, Inc., the company which produces software platforms such as TurboTax, QuickBooks, Credit Karma, and Mint.

“When we began the search for a partner for the L.A. Clippers and our new dome, we looked for one that shares our passion for technology, the pursuit of innovation and our commitment to customers, fans and community,” said Clippers chairman Steve Ballmer in a news release.. “Intuit is a perfect fit and we’re excited to be calling our future home the Intuit Dome.”

The naming rights agreement is accompanied by a commitment from Intuit to provide $1 million over the next three years to continue a program with local school districts that provides financial education to students, as well as a commitment to offer free tax preparation services to low-income services in the surrounding area.

Likewise, Ballmer and the Clippers have agreed to a $100-million community benefits package that would go toward affordable housing development and preservation, homeowner and rental assistance, and other community projects in Inglewood.

Interior of the Intuit Dome - Los Angeles Clippers

AECOM is designing the arena, which according to architectural plans would rise approximately 150 feet in height.  Renderings portray the building as an elliptical structure with a grid-like exterior and numerous carve-outs used to create open-air decks.

The Intuit Dome will ultimately serve as the centerpiece of a broader 28-acre entertainment complex built on land formerly controlled by the Inglewood Redevelopment Agency.  The $1.2-billion project is expected to include:

  • an 85,000-square-foot practice and athletic training facility;
  • 71,000 square feet of office space for the Clippers organization;
  • a 25,000-square-foot sports medicine clinic;
  • 63,000 square feet of ancillary retail;
  • a public plaza featuring a large LED screen, a concert stage, and basketball courts;
  • a 150-room hotel; and
  • parking for 4,125 vehicles.

The construction of the arena was not always a certainty.

Plaza at the Intuit Dome - Los Angeles Clippers

When the Clippers and the City of Inglewood announce plans for the arena in 2017, the project was faced with opposition from the Madison Square Garden Company (MSG), the concert and entertainment company which converted The Forum into a live events venue nearly a decade ago.  Arguing that Inglewood Mayor James Butts had deceived them into forfeiting a ground lease for the future arena site by claiming that the property would be developed with an office park, MSG sued to block construction of the then-unnamed project.  Ballmer eventually resolved the dispute by purchasing the Forum for $400 million - a significant mark up from the $23.5 million that MSG paid in 2012.

Construction is starting for the Intuit Dome just one year after the debut of SoFi Stadium, the new home of the Los Angeles Rams and Chargers, which at a cost of $5 billion, is the most expensive stadium ever built.  The 70,000-seat venue is the centerpiece of a 300-acre mixed-use development that will also include housing, offices, retail, a hotel, and park space.

Inglewood officials hope to connect the new developments to Metro's Crenshaw/LAX Line through the construction of an automated people mover system. The 1.6-mile elevated transit system would cost more than $1 billion, and is currently expected to begin service in 2026.

Main lobby at the Intuit Dome - Los Angeles Clippers

 

Source: Urbinize LA 

Posted in Local News
Sept. 17, 2021

Hispanic Heritage Month

Hispanic Heritage Month is here to recognize the contributions and influence of Hispanic Americans to the history, culture and achievements of the United States.

 

As Realtors, we appreciate our Hispanic clients that chose us to help them accomplish their American dream of homeownership. Ready to join your community of first-generation homeowners? Contact us today!

 

Posted in Holidays
Sept. 16, 2021

Ditch Your Summer Clutter

Fall is the perfect time to declutter the house. So, we wanted to share with you guys some suggestions to help ditch your summer clutter. Check them out below!

 

If you're looking for a new home with more space, fall is a great time to buy and sell. Reach out to us to get started on the process.

Sept. 15, 2021

Real Estate Lingo: Standard Sale

Thinking of putting your house on the market? Let us help you accomplish your real estate goals when it comes to selling your house. Contact us today!

 

Sept. 14, 2021

Fact or Fiction: Homebuyer Edition [INFOGRAPHIC]

Disponible en español AQUI

Some Highlights

  • When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for.
  • It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction.
  • Trust the pros. If you want to understand why it’s still a good time to buy, let’s connect today.

 

Posted in For Buyer's
Sept. 10, 2021

Patriot Day and National Day of Service and Remembrance

September 11th, 2001 is a day this nation will never forget and this year on September 11th, 2021 marks the 20th Anniversary of that tragic day. We want to honor all the heroes and citizens who lost their lives due to the terrorists attacks on the World Trade Center, the Pentagon and onboard United Flight 93. A tragic event in history that brought great devastation and broke all of our hearts but united us regardless of race, gender, religion, origin or economic status. It was a day we grew strong as a nation and learned to love, respect and be compassionate to one another.

 

Our deepest condolences and prayers of strength to all the families who lost a loved one on that day. 😢🙏

 

To read the full Proclamation, click HERE

Posted in Holidays
Sept. 10, 2021

What You Can Do Right Now To Prepare for Homeownership

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com:

The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .”

Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re ready to learn more about how to escape rising rents.

Start Saving – Even Small Amounts – Now

Experts agree, setting aside what you can – even smaller amounts of money – into a dedicated savings account is a great starting point when it comes to saving for a down payment. As Cindy Zuniga-Sanchez, Founder of Zero-Based Budget Coaching LLCsays:

“I recommend saving for a home in a ‘sinking fund’ . . . . This is a savings account separate from your emergency fund that you use to save for a short or mid-term expense.

Zuniga-Sanchez adds saving in smaller increments can help make a large goal – such as saving for a down payment –achievable:

“Breaking up your goals into smaller bite-sized pieces by saving incrementally can make a large daunting number more manageable.”

Assess Your Finances and Work on Your Credit

Another tip experts recommend: take a look at your overall finances and credit score and find ways to reduce your debt. According to the HUD, the average credit score of first-time homebuyers is 716. If you’re not sure what your credit score is, there are numerous online tools that can help you check. If your score is below that average, don’t fret. Remember that an average means there are homeowners with credit scores both above and below that threshold.

If you find out your score is below the average, there are several ways to improve your credit before you apply for a loan. HUD recommends reducing your debt as much as you can, paying your bills on time, and using your credit card responsibly.

Start the Conversation with Your Advisor Today

Finally, it’s important to talk to someone who understands the market and what it takes to become a first-time homebuyer. That’s where we come in. A trusted advisor can help you navigate your specific market and talk you through all the available options. Having the right network of real estate and lending professionals in your corner can help you plan for the homebuying process as well as determine what you can afford and how you can get pre-approved when you’re ready.

Most importantly, we can help you understand how homeownership is achievable. As Lauren Bringle, Accredited Financial Advisor with Self Financial, says:

Don’t write home ownership off just because you have a low income . . . . With the right tools, resources and assistance, you could still achieve your dream.

Bottom Line

If you’re planning to be a homeowner one day, the best thing you can do is start preparing now. Even if you don’t think you’ll purchase for a few years, let’s connect today to discuss the process and to set you up for success on your journey to homeownership.

Posted in For Buyer's