Tuesday, January 28, 2020 / by RE/MAX Cornerstone
Home values have been increasing for 93 consecutive months, according to the National Association of Realtors. If you’re a homeowner, particularly one looking to downsize your living space, that’s great news, as you’ve likely built significant equity in your home.
Here’s some more good news: mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.
The combination of leveraging your growing equity and capitalizing on low rates could make a big difference in your housing plans this year.
How to Use Your Home Equity
For move-up buyers, the typical pattern for building financial stability and wealth through homeownership works this way: you buy a house and gain equity over several years of mortgage payments and price appreciation. You then take that equity from the sale of your house to make a down payment on your next home and repeat the process.
For homeowners ready t ...
Tuesday, January 28, 2020 / by RE/MAX Cornerstone
In 1963, Martin Luther King, Jr. led and inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof over our heads, and a place where our families can grow and flourish.
If you’re dreaming of buying a home this year, the best way to start the process is to connect with a Real Estate professional to understand what goes into buying a home. Once you have that covered, then you can answer the questions below to make the best decision for you and your family.
1. How Can I Better Understand the Process, and How Much Can I Afford?
The process of buying a home is not one to enter into lightly. You need to decide on key things like how long you plan on liv ...
Tuesday, August 6, 2019 / by Angie Hsieh
If you follow the news, you'll know that the Feds cut rates by a quarter point as predicted. I would've never thought interest rate would be lower than 4% again this year, but wow, the interest rate had stayed at 3.875% for the past 2 days. If you own a home and would like to re-finance, this would be your chance. If you are looking for a home, lock in your rate! Call your lenders right away to save you some money!
To add on to last week's wealth building, here are some other things to consider: Your credit score... why? Because it is one of the requirements lenders need to see before giving you a rate. Your interest rate depends on many things, and one of them is this magical number. If you haven't gotten a credit report in years and are thinking about getting a home, it would be a good idea to get one now. You'll need make sure you know your credit score, and that all the information on it is up to date and current. If you know you have bad credit but don't know what to ...
Tuesday, July 30, 2019 / by Angie Hsieh
Many of us are starting to buy our first homes, while some are working on building wealth through real estate. So everyone should be thinking ahead about saving money. Recently a valuable client of mine asked me how they should go about doing this, and I thought about it and looked into notes I had taken throughout the year.
Here are some easy things I feel like anyone can do to start saving:
1. Know your finances
2. Have a budget and control your expenses
3. Save 10% of all your income
4. Don't over stretch your credit or do risky investments
5. Build up equity of your home
6. Establish a retirement fund
7. Fully fund your retirement
8. Pay down consumer debt
9. Have one month's reserves in cash and don't ever touch it
10. Invest in yourself
You really can't improve what you can't measure, so if you don't look at your finances, there's no way you can improve it.
Before you think about investment homes, make sure all your stability requirements have been met. I would ...
Wednesday, July 17, 2019 / by Angie Hsieh
For the past few weeks, all we've seen on social media is the earthquake and when will it hit again. Many of us debated about where we should be and what we should be doing during and after the earthquake. As I was holding on for my dear life on a concrete bollard at the Brea Olinda Sport Center when the 1st earthquake hit…. I realized, we should earthquake proof our homes as well as have a plan and a earthquake kit.
After much discussion and research, we found that... Federal, state, and local emergency management experts and other official preparedness organizations all agree that "Drop, Cover, and Hold On" is the appropriate action to reduce injury and death during earthquakes. Click Here to find out why!
According to the LA times here are 9 things you should do to prepare:
1.TVs and bookshelves straps
2.Cabinet locks for kitchen cabinets
3.Adhesive/Wax or Velcro to hold the items on shelves
4.Screw Hook or Earthquake-specific hangers for mirrors/Pictures ...