Five Ways to Come Up with a Down Payment

Coming up with a hefty down payment can be intimidating, but with a little work and ingenuity you can do it. Here are a few ideas for coming up with the needed cash:

1. Down-Payment Assistance Programs
Many states offer down-payment assistance programs. You must go through an application process and qualify based on income and credit, but if you do qualify, these programs are amazing. Typically you will receive a grant for the amount of your down payment; it’s basically free money from the government to encourage responsible citizens to buy their first home.

2. Try to Qualify for an FHA Loan
If you qualify, an FHA loan can make first-time home ownership much easier. FHA-backed loans typically offer more manageable down payments (as little as 3.5 percent compared to the 10-30 percent required for conventional home loans). These loans are subject to credit requirements but sometimes less stringent ones than other loans.

3. Help from Family
If your parents or other relatives are in a financial position to help you purchase your first home, they may be happy to do so. Approach the conversation with a gracious and humble mind frame and don’t expect a specific outcome. Emphasize that you are ready to become a homeowner and begin solidifying your financial future, but that you don’t have enough cash on hand for a down payment.

Perhaps you are planning to get married in the near future. Instead of asking your parents to help you pay for the wedding, ask for help with a down payment—a smaller, more modest wedding may be well worth becoming a homeowner. As long as the gift is less than $13,000 (or $26,000 for a couple), you shouldn’t have to pay income taxes on it, either.

4. Boost Your Income
Instead of looking at your current income and thinking that saving a chunk of money is impossible, ask yourself how you can earn more money. Options include freelancing on the side or getting a job on the weekends working retail or at a restaurant. No matter how you choose to boost your income, the main goal is to continue living on your old income while putting away any extra money.

5. Borrow from Your IRA
While taking out a loan from your retirement account is generally frowned upon and penalized with taxes and early-withdrawal fees, one exception is borrowing from your IRA specifically for a down payment on a house. If you qualify, you can borrow up to $10,000 penalty-free toward a real estate purchase.

Are you thinking about purchasing a home and looking for advice on where to start? Give me a call at (626) 252-0839,  we will sit down and draft out a plan for your specific situation, whether it be buying something this month or 6-12 months down the line, its important to have knowledge and tools available to you. Let me help! 

Are you wondering what your home would sell for in today’s market? Click HERE for a free estimate! 

For a more in depth consultation please contact us directly at (626) 252-0839

Small Gains in the National Housing Market

Freddie Mac’s Multi-Indicator Market Index (MiMi) analyzes home-purchase applications, payment-to-income ratios, employment figures, and the number of on-time mortgage payments in markets across the country to determine the stability of the housing market. All of these indicators point to a slight improvement in the housing market as it heads into the busy spring season. January’s national MiMi value reached 82.7; while this isn’t as impressive as the all-time high MiMi value of 121.7, it is still a 40 percent improvement over the MiMi’s all-time low back in October 2010. January’s MiMi saw a three-month increase of 1.46 percent. Year-over-year values showed greater gains, with a 7.57 percent climb.

National Pending Home Sales
The Pending Home Sales Index, an indicator based on contract signings, reached 109.1 in February, a 3.5 percent increase from the downwardly revised 105.4 in January. This is a 0.7 percent improvement from February 2015’s index of 108.3. The index has seen year-over-year gains for the past 18 months, yet this last gain was the smallest of the lot.

Regional Pending Home Sales
In the Northeast, the Pending Home Sales Index fell 0.2 percent; it is still 12.6 percent higher than February 2015. The Midwest saw the index climb an impressive 11.4 percent month over month and 2.5 percent year over year. The index rose 2.1 percent and 0.7 percent in the South and the West, respectively. Compared to February 2015, the index dropped 0.4 percent in the South and 6.2 percent in the West.?

Future Predictions
Economists with the National Association of Realtors predict that existing-home sales will reach 5.38 million this year—up 2.4 percent from 2015. The national median existing-home price should also climb between 4 and 5 percent. In comparison, 2015 saw existing-home sales rise 6.3 percent, with home prices increasing 6.8 percent.

1-626-252-0839 Sell While the Market is HOTT!

What’s Your Home Worth? Find out Now!

 

If you’ve been thinking about selling your home, chances are that you’re excited about the possibility of moving and starting a new chapter of your life. Simply deciding to sell your home isn’t enough, though. The process of putting your home on the market can be overwhelming and time-consuming, so before you try to sell your property, you need to ask yourself a few questions. Being honest with yourself and with the people around you will help you have a more positive selling experience when you’re ready to move.

Bargain Hunters HUD REO List for 04/26/16

Here is this week’s list of available Bargain Priced HUD Homes! Take a minute to browse this list of available What are you waiting for?bargain HUD Homes, Available HUD homes in California and other states. 

For Information on these and other available HUD homes please visit: www.HUDHomestore.com or Contact me:

Direct: (626) 252-0839 Email: Yesenia@NewCenturyBroker.com

Click to get the PDF Download:  Aged Inventory 4-26-16

2016-04-27 10_46_11-Aged Inventory 4-26-16

For Information on these and other available HUD homes please visit:

http://www.HUDHomestore.com

or Contact me:

Direct: (626) 252-0839 Email: Yesenia@NewCenturyBroker.com

EqualHousingOpportunity_Logo

How’s the Market??? Snapshot for March 2016- Real Estate Market Trends

Here is this month’s How’s the Market??? Snapshot. If you saw last month’s Snapshot you will notice that our local real estate trends show median prices are still creeping up, its just taking a little longer for homes to sell! If Hows the market imageyou would like more detailed information about how much your home is now worth after the Real Estate Crash, send me an email, text, or call me. I’ll be more than happy to provide you with a Free, no obligation report of what its worth and things you can do to improve the value of your home.

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot March 31, 2016
Average List Price 30 Days Trend Median List Price 30 Days Trend Average DOM: active 30 Days Trend Number of Listings
Los Angeles County, CA
Single Family under $1M $577,104 4.57% $559,000 5.67% 65 -7 7002
Single Family over $1M $3,601,488 -0.92% $2,095,000 0.29% 87 -7 4791
Condo/Townhome under $600K $390,169 0.84% $389,000 0.26% 61 -3 1849
Condo/Townhome over $600K $1,277,128 -0.52% $899,000 0.01% 61 -3 1294
Riverside County, CA
Single Family under $500K $334,726 1.41% $339,000 1.50% 82 -3 5718
Single Family over $500K $1,594,716 0.22% $930,000 1.09% 102 -5 5765
Condo/Townhome under $300K $205,773 -0.39% $212,000 -1.17% 117 9 1233
Condo/Townhome over $300K $569,457 5.95% $469,000 4.45% 93 3 1411
San Bernardino County, CA
Single Family under $500K $290,247 1.31% $288,000 2.86% 93 -5 4314
Single Family over $500K $1,772,663 -0.24% $988,800 2.47% 96 -11 3420
Condo/Townhome under $300K $205,067 2.97% $225,000 4.65% 75 -7 228
Condo/Townhome over $300K $696,569 7.37% $599,000 9.01% 44 -3 622
Orange County, CA
Single Family under $1M $755,087 3.26% $749,000 3.47% 61 -7 4133
Single Family over $1M $3,562,601 -2.19% $2,288,000 -0.31% 97 -12 2555
Condo/Townhome under $600K $406,851 0.48% $412,000 0.49% 57 -3 1271
Condo/Townhome over $600K $1,034,862 -3.03% $848,500 2.86% 56 -3 810
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.
Sincerely,
Yesenia E. Ruvalcaba-Garcia, Broker
Realtor®/HUD REO & Listing Specialist
Direct (626) 252-0839
Office (626) 917-6200 ext. 14
Cell Phone (626) 252-0839
Fax (626) 209-8318
CalBRE License Number: 01293970
yeseniaruvalcaba@aol.com
newcenturybroker.com
New Century Realtors

Bargain Hunters HUD REO List for 03/29/16

Here is this week’s list of available Bargain Priced HUD Homes! Take a minute to browse this list of available What are you waiting for?bargain HUD Homes, Available HUD homes in California and other states. 

For Information on these and other available HUD homes please visit: www.HUDHomestore.com or Contact me:

Direct: (626) 252-0839 Email: Yesenia@NewCenturyBroker.com

Click to get the PDF Download:      HUD Homes Aged Inventory

 

Bargain Hunters HUD REO LIST

 

How’s the Market??? Snapshot for January 2016- Real Estate Market Trends

Here is this month’s How’s the Market??? Snapshot. If you saw last month’s Snapshot you will notice that our local real estate trends show median prices are still creeping up, its just taking a little longer for homes to sell! If Hows the market imageyou would like more detailed information about how much your home is now worth after the Real Estate Crash, send me an email, text, or call me. I’ll be more than happy to provide you with a Free, no obligation report of what its worth and things you can do to improve the value of your home.

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot January 28, 2016
Average List Price 30 Days Trend Median List Price 30 Days Trend Average DOM: active 30 Days Trend Number of Listings
Los Angeles County, CA
Single Family under $1M $548,365 0.97% $525,000 0.98% 78 -9 6917
Single Family over $1M $3,673,722 0.35% $2,095,000 4.80% 105 -12 3811
Condo/Townhome under $600K $382,973 2.99% $375,000 2.74% 68 -15 1819
Condo/Townhome over $600K $1,303,293 -1.33% $899,000 -0.99% 77 -14 1025
Riverside County, CA
Single Family under $500K $328,553 0.61% $329,999 0.30% 88 -5 5989
Single Family over $500K $1,509,915 4.94% $885,000 4.12% 114 -7 4791
Condo/Townhome under $300K $208,009 0.29% $216,900 -0.96% 104 -7 1255
Condo/Townhome over $300K $523,772 2.12% $434,000 2.36% 93 -10 1252
San Bernardino County, CA
Single Family under $500K $285,132 0.97% $280,000 0.00% 106 -6 4489
Single Family over $500K $1,670,016 9.88% $898,000 6.27% 122 -12 2617
Condo/Townhome under $300K $195,791 -2.94% $215,000 -1.83% 90 -11 206
Condo/Townhome over $300K $619,905 3.84% $500,000 4.18% 60 -19 475
Orange County, CA
Single Family under $1M $713,244 1.85% $699,500 1.52% 77 -10 3533
Single Family over $1M $3,770,515 0.38% $2,350,000 0.21% 129 -9 1795
Condo/Townhome under $600K $404,170 2.53% $409,900 3.02% 67 -13 1091
Condo/Townhome over $600K $1,064,625 -2.21% $849,000 -0.12% 73 -14 591
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.
Sincerely,
Yesenia E. Ruvalcaba-Garcia, Broker
Realtor®/HUD REO & Listing Specialist
Direct (626) 252-0839
Office (626) 917-6200 ext. 14
Cell Phone (626) 252-0839
Fax (626) 209-8318
CalBRE License Number: 01293970
yeseniaruvalcaba@aol.com
newcenturybroker.com
New Century Realtors

13013 Paseo Verde, Whittier, CA is For Sale in Whittier CA

13013 Paseo Verde, Whittier, CA

OPEN HOUSE
December 05, Saturday 11:00 AM – 2:00 PM

$ Click for current price
3 BEDROOMS | 2 (1 full, 1 half ) BATHROOMS | 1376 SQUARE FEET

HUD Home! Step into this beautiful Whitter town home located in the Whittier Woods Community. This home boasts a large living room, downstairs guest bathroom, formal dining room that opens to the spacious kitchen, downstairs laundry room, 3 large bedrooms upstairs and an upstairs bath that has both a tub/shower combo AND separate shower for those that don’t like tubs! You’ll also enjoy the privacy of your very own back yard patio perfect for outdoor BBQs and entertaining. You must see it to appreciate all it has to offer. This is the perfect opportunity for you to begin the New Year in a new home!



All information deemed reliable but not guaranteed. Not intended as a solicitation if you are currently working with a Broker.