Tag: Stacy and Nicole

13
Apr

Pros and Cons of All-Cash Offers

It is without a doubt that you will have no trouble finding the perfect home if you have an all-cash offer up your sleeves. Even home sellers will be planning sweet deals to offer you if you pass by their homes as this usually means that you have the cash to seal the deal and purchase their homes.

Typically, all-cash home buyers have close to all the advantages over the home buyers with mortgages simply because the there is usually no guarantee that the home buyers with mortgages will get you the balance. A lot of obstacles can end up getting in the way and even interfere with regular monthly mortgage payments. The best thing about an all-cash home buyer is that all these doubts and inconveniences are squashed; it is similar to a no-strings-attached deal.

All-cash deals are usually quite common; it’s not only seen among the super-rich within the community nowadays. When you dig a little deeper, you will notice that a good portion of this 29% is not among the wealthy.

But you need to keep in mind that an all-cash move is not always the best move for every occasion. This article will help you determine whether you should go for an all-cash deal or opt for a mortgage route instead.

Should you go for an all-cash sale?

Here is one simple fact to everyone reading this. Just because you have the cash and know you can afford to purchase the property doesn’t mean that it is always the best way to go. Making an all-cash deal comes with its merits as well as demerits that you need to peek into before you stash a significant amount of your cash into that brand new expensive home.

The pros of going for an all-cash offer

  • Tough sales markets – You may want to make an all-cash offer when you realize that a bidding war is going on for that new home or condo that you want to buy. An all-cash offer will help you cut through the competition like a knife through butter.
  • Strong negotiation stance – An all-cash offer will also give you an added advantage over the negotiation stance for the home that you plan to purchase. You will be able to force the home sellers to drop from their initial asking price to an amount that can suit you.

Faster processes

All-cash offers will also make the whole process of purchasing and acquiring a new home faster compared to applying for a mortgage. This deal comes with less paperwork and almost no delays at all.

The cons of going for an all-cash offer

  • You will put a lot of money into one asset when you can diversify and use it in other things.
  • Your liquidity can also be drastically limited if you go for an all-cash deal.
  • You will also miss out on significant tax deductions like a tax break, which homeowners with mortgages get.
  • You may even stand a chance of investing your money better elsewhere, maybe a business.

Do you have a question about all-cash offers? Click here to contact the experts at Stacy and Nicole today!

 

22
Mar

Should You and Your Spouse Buy a Home Before Getting Married?

One of the many things that spouses find difficult is deciding to buy a house before or after they get married. You need to give this a significant amount of thought before you make a decision. Be cautious when dealing with matters like these. Take appropriate measures to protect yourself and your spouse during and after you purchase of your new home.

Below are some key pointers you and your spouse need to take into consideration before you decide to buy that new dream home.

1. Current finances

You should sit down with your partner and discuss your financial situation. Make sure your spouse can keep up with the future house payments. You and your spouse need to discuss matters concerning debt, income, current credit score, as well as other financial obligations. After all, you will need all of this information while attempting to get that mortgage.

2. Credit scores

The credit scores of both you and your partner are vital if you and your spouse intend to get a mortgage. If you wish to get that great mortgage rate, then you need to start working on raising your credit scores. You must know both of your credit scores before you even attempt to buy a new home. With improved credit scores, you and your spouse will be able to save thousands of dollars for the span that you have taken the loan.

3. Future finances

As a spouse, you will soon come to realize that money problems are the leading problem in relationships, whether you are married or unmarried. It would be best if both you and your spouse lay down a contract that will explain who will pay for what and how much. Some of the things you can consider when planning to buy that new home are down payment, mortgage payments, fees, maintenance, and upgrades.

4 .The kind of home you intend to buy

It is vital that you and your spouse are on the same page when it comes to buying a new home. Discuss with each other what you want and agree on the best home that both of you love and want to live in.

5. Opening a joint bank account

You may consider opening a joint bank account with your spouse if you are planning to buy a new home together. This way, you can always use this account to pay your bills that involve the new house.

6. Title options

There are a couple of title arrangements that you can choose from. These include joint tenancy with the rights of survivorship and sole ownership.

7. What if it doesn’t work out?

You will not want to plan for failure with your spouse. For this reason, you need to consider all the factors that will make your plan to buy a new home a success.

8. Get a legally binding agreement

The title agreement might be legally binding, but any other decision that you make together that concern finances are not, so take caution.

Do you have a question about home buying with your spouse? Click here to contact Stacy and Nicole today!

15
Mar

Why You Should Hire a Real Estate Pro to Help You Buy a Home

Everyone knows that it is no joyride when trying to own a home. Before you manage to become a homeowner, you will have gone through some unexpected bumps and detours along the way. It is for this reason that you may find it relieving to hire a real estate pro who will guide you through the whole process.

An experienced agent will help you with so much more information in comparison to mobile applications and real estate websites. Here are some pointers on how a real estate pro can be of assistance to you in your quest to own a home.

1. Guidance

Your real estate pro will always take the time to learn about what you prefer, your budget and motivation, and your wants and needs. The agent will use this information to narrow down your home searches.

2. Education

Your real estate agent will also provide you with the relevant information about the local home market near you and also help you compare their sales. The agent should be able to explain all the areas that you do not fully understand.

3. Networking

An agent who knows how to do his or her job will always be one step ahead of the market and stay updated about any homes that may be available for sale around your target neighborhoods.

4. Advocate

You should know that it is always the best option to look for an agent who will be looking out for your own best interest when it comes to looking for a new home. Find an agent who will strive to make sure you are protected and that any transactions you do will be within all the legal boundaries.

It is not always a good idea to assume that you can always go straight to the listing agent and end up getting a lower price for your new home. Work with an agent who will dedicate his or her time to you and your cause.

5. Negotiation

Don’t worry about negotiating when you have an agent. All you need to do is some follow up on how the negotiation goes. Your agent will handle everything when it comes to dealing with negotiations of your new home.

6. Manage minutia

You will most likely end up being overly exhausted while trying to follow up on all the paperwork that comes with real estate transactions. Here is where your agent comes in. You may fail to check a box or even forget to have a clause initialized. These can cause the need to have your documents re-submitted. A real estate pro makes all of this easier by following up on all these steps.

7. Look out

There are dozens of situations that can end up cutting a deal short, even as it edges towards being sealed. Anything can happen; maybe the house’s title isn’t that clear, or even the lender is failing to meet the financial deadline or any other factor. Your real estate pro will realize any problems that may arise with the home or with the contract and warn you before it is too late.

Do you have a question about buying a home? Click here to contact Stacy and Nicole today!

28
Feb

Best Elementary Schools in Orange County

When it comes to education, every parent wants the best learning institution for their children. Picking an elementary school can be very challenging, especially to parents who are taking their child to school for the first time. The best elementary schools in Orange County help students grow by taking the obstacles and turning them into opportunities. Students are also given opportunities to flex and innovate their creativity.

Orange County’s top elementary schools view obstacles as opportunities, as reasons to innovate and flex their creativity. This was after a detailed assessment of 371 elementary schools. The schools were graded and assessed on many determinants important in the education sector: diversity, academics and fitness. Six elementary schools got gold medals, six got silver and 10 elementary schools received bronze in the yearly report.

This year the Irvine’s Stonegate Elementary School took 1st place. An impressive improvement from being 14th place last year. This comes one year after the school received a federal recognition and got the Blue Ribbon Award. According to the staff, the school is always exploring new teaching methods, which include adapting to new technologies and holding yoga sessions. The campus leaders were also to the challenge this year, more readily, something that is widespread among the top 10 elementary schools.

The best Orange County elementary schools embrace the idea that top schools should not be afraid of innovation when it comes to improving their teaching methods. The schools also carry most of their projects by encouraging parents’ involvements.

In the hall of fame, the following elementary schools made their first entry:

Stonegate Elementary took 1st place. The school embraces and implements the latest tech and old school discipline. IPads and yoga coexisting in the school system in harmony are used to inspire students and enhance their focus.

Rossmoor Elementary was placed 6th. The school cultivates the parent-teacher partnerships in a very unique way. Efforts are leveraged so that students can be provided with weekly inspirational gatherings while teachers have more time to enhance a deeper collaboration with their students.

Below are the returning winners in the hall of fame:

Ethan B. Allen Elementary School was placed 2nd. The school was 1st place in 2012. The system used by the school encourages students to show their reasoning behind the presented work assigned. Additional science and cultural education are also provided. Parents are allowed to navigate in the school education system.

Jack L. Weaver Elementary School took 3rd place. The school had been an empty campus that was slated for sale. It was purchased by Weaver and reopened into a magnet style elementary school. Since then its performance has rocketed the education charts. The school is a six time winner on the list.

Stone Creek Elementary School came in at 4th place. The school leaders played an important role in the excellent performance of the school by reexamining the academic performance of the English learners. This was done through a targeting education program to be more effective, hence an improved performance.

Do you have a question about home buying? Click here to contact Stacy and Nicole today!

 

15
Feb

3 Ways to Get Acquainted with Your Neighborhood

Relocating to a new town or community can have its challenges. New people, new environment, new cultures and definitely a new community. Some of us will take years to finally fit into the community, bearing in mind some of us find meeting new people a little intimidating.

Below are a few pointers that you can use to enhance the adaptation process to your new neighborhood.

1. Making the first move

It’s a widespread culture for neighbors to make the first move in approaching someone who has just moved into the neighborhood. What if you change the rules and make the first move? Approach your next door neighbor, then introducing yourself. It’s that simple. It might be that your neighbor was also hesitant to come and approach you in fear of disturbing you and your family. When making the first move, pick a time when your neighbor is not busy or rushing somewhere. A simple hello or wave can be the starting line of a conversation. Since you are new, you have many inquiries about the neighborhood community services (like garbage collection, local stores, and local repair services). All these are good topics to talk about with your neighbor.

2. Making yourself approachable

Being in a new environment, many might find it comforting to sit in the house rather than take a stroll. Well, that is a seclusion tactic that won’t help a lot if you want to get used to your neighborhood. Create time to make yourself available and approachable to the other members of your community. Occasionally sit on your front porch or take a stroll down the block. When coming home from work, don’t wear your usual grumpy face. If you are dining at a local restaurant pick a seat at the bar, rather than the corner seat at dinner. Communal seating encourages conversation. If you have kids, when dropping them at school, chat with some of the other parents before driving off. Also, use the weekends to take your kids to the local playground parks. Social interaction with your neighbors will require you to keep your face away from the phone: smile, maintain eye contact and greet people with plenty of enthusiasm.

3. Checking out the local spots

As mentioned in #2, local joints are the best place to help you fit into your neighborhood. You will find people whom you share the same social interests with and ones whose kids go to the same school as your own. If you have a dog, then you will meet other dog owners. Within no time you will have a favorite hanging joint and a great hanging out crew. Be accommodating and kind to anyone who approaches you in these local places. Be friendly and play a role in how people will interact with you. While checking out these places, you will also meet social groups and organizations that are community-based like the parent’s committee where your children go to school.

Do you have a question about home buying? Click here to contact Stacy and Nicole today!

 

31
Jan

6 Repair Requests Home Buyers Should Never Make in Orange County

Purchasing a home is not as easy as it may seem, especially when emotions and money get involved. The situation can get dicey. This is why during the house inspection or even its walk through, it is important to request repairs in each place of the house that may have issues.

Keep a close eye on the safety concerns of the house or the areas that can cost you money to maintain or fix when you finally own the home. It is more strategic to choose the repairs you need in the house when you are bidding for a property in the competitive market that has many offers. In the long run, if someone requests for a lot of repairs, it can potentially increase the likelihood of the home selling, especially if the home has less high-maintenance offers.

When you have expectations while requesting for additional house repairs, present the repair requests in an ideal manner and be ready to negotiate the prioritized requests to keep the buyer on a right side. This guide will provide you with some of the requests you should not make at any point.

1. What you know you’ll renovate anyway

Property repair always lengthens the buying process, and the seller is looking forward to a quick and easy sale. Negotiate some of the house renovations that you can do by yourself and ask the seller to give you credit for the damages and repairs.

2. Purely cosmetic issues

From adding a fresh coat of paint on the fence to repairing a cracked tile, it is very tempting to ask the seller to make cosmetic repairs. But wait, you should only do this at your own risk. Real estate experts’ advise that the buyer should overlook the cosmetic repairs of the house and even weigh the amount the seller will require for the replacement.

Choosing to repair the home by yourself after buying will also give you the platform to do it in accordance with your preference and the pick of your desired contractor.

3. The $10 repair list

Giving the seller a big list of minor repairs in the house may lead the seller and agent to give in to a better offer that might be needed down the road with the less demanding timeframe and lesser repair requests.

4. Minor electrical issues

Coming across a dysfunctional electric switch during your home inspection may lead you to keep that in the fix list request. But if these are just minor issues that cannot lead to bigger problems, you can skip that and repair that on your own after you close the deal with the seller.

5. Water damage

Water damage is a severe issue to deal with during a home purchasing process especially if there are signs like water spots on the ceiling. Instead of letting the seller repair it and having to pay extra for the repair, you can choose to rely on the expertise of a home inspector.
Do you have a question about repair requests? Click here to contact Stacy and Nicole today!

31
Jan

Pros and Cons of Open Floor Plan Homes in Orange County

Many home developers have embraced the open floor plan design when building homes. The design has gained popularity among homeowners and reports from the NAHB (National Association of Home Builders) say that close to 84% of single family homes being built have utilized this design.

Check out the pros and cons of an open floor plan home to determine whether or not it’s the best design you would like for your current or future home.

Pros of Open Floor Plans

Below are the reasons why open floor plans have become very popular.

Maximizes square footage: It makes the house feel and look bigger since the square footage of the house is not cut into smaller cramped quarters.  Hence, there is no unused space in the house.

Improved natural light: More lights flows into the house when there are no walls. Light coming into the house through the windows illuminates throughout the entire house. This eliminates any dark interiors present in the room and there will be no need for artificial lights during the day.

Enhances Social Cohesiveness: With an open floor plan, there is more social interaction in the house. One can easily interact with someone who is in another part of the house. This is a very efficient way of entertaining guests.

Plenty of Flexibility: Depending on the home owner’s needs, open floor plans give the flexibility to be extra creative in decorating the home and coming up with different furniture arrangements. Space can be redefined into different styles without undergoing major interior architectural changes.

Cons of open floor plans

It’s good to look at the other side of the coin when it comes to open floor plans. Below are the challenges of dealing with an open floor design in your home.

Dealing with the heat and the smell when cooking: You will need to have a heavy duty ventilation system or else your guests will be dealing with a lot of heat, smoke and smell while you are cooking.

Less formal living: If you are that type of chef who likes cooking with no interruption or your hosting style is a little more formal if you usually hire professional cooking services for parties, you might have to forgo an open floor plan. Open floor plan comes with unrestricted social interaction.

Minimal or no privacy: Just like teenagers, some of us will want to have private moments. This cannot be achieved with an open floor plan. This makes it hard if you have a family with kids who are teenagers. You can’t read a book privately without interruption unless you are living alone.

It’s noisier: You can’t escape dealing with noise being made by kids, the TV, the dishwasher, or music. Since there are no walls to absorb the sounds, you better be ready to buy some ear plugs.

Inability to hide the mess: In case a guest drops by, there is no way you can hide a messy living room. Unlike the traditional design where there are walls and doors, the open floor plan will allow the visitors to view everything – even your clutter.

Do you have a question about open floor plans? Click here to contact Stacy and Nicole today!

20
Dec

How to Sell Your Home During the Holiday Season

Are you wondering how to sell your house during the holidays? While putting your home on the market between holiday celebrations, looming family visits, and school vacations might seem like miserable timing, home sellers can actually benefit by using this period strategically to show and possibly even sell their place.

Most home sellers take a holiday hiatus until the New Year. This can mean that your home may suddenly become a hot commodity. Also if buyers are truly squeezing in house showings between shopping trips and holiday school programs, you know these potential buyers must be serious.

So if you are ready to put up a “For Sale” sign under the pretty glow of your holiday lights, now is the time! Here is some advice on how to sell your house during the holidays.

A little mistletoe will most likely help rather than hurt.

You should be festive and decorate your home. It is when your home looks the best and you take the most pride in it. This will show better and most likely net more.

Avoid going overboard

Go easy on the Christmas decorations. Christmas lights and a tree in the living room are okay, but staging a nativity scene in the front yard and going crazy on decorations can scare off potential buyers.

Throw a holiday party

You should consider squeezing in the time to host a holiday party. This can be a great way to showcase your home to family, friends and neighbors. Chances are that at least one person at the holiday party is looking for a new house or knows someone who is.

Preheat the oven

December is a wonderful time for potential buyers to walk into a home that smells of fresh-baked cookies, treats and holiday cakes. Sweeten up potential buyers a tad more by leaving a plate of treats out for them to enjoy.

Don’t encourage thieves to make a visit

Even though most people are wishing peace and goodwill, not everyone will take this message to heart. For this reason, you should play it safe and don’t leave gifts under a holiday tree during a home showing. You should consider leaving empty decorative boxes instead.

Let your home shine

Winter days have never been darker or shorter, so to ensure your home gives off a warm vibe, you should replace some of your lights with brighter bulbs to add more light for evening showings.

Be giving

Give a little more time than you might if you were selling at a less frantic time of year. Prepare to let people into your house even when it is not convenient for you. Everyone doesn’t celebrate the same holidays, so you might be asked to show on days you normally would not want to.

Use the cold weather in your favor

If it is raining, you should have umbrellas handy for people to look at outside areas. Boot covers by the front door are a nice touch as well. This is the time to accentuate your attached garage and update heating systems and fireplaces.

Are you thinking of selling your North Orange County home this winter? Click here to contact Stacy and Nicole today!

28
Nov

How to Buy a Vacation Home in Anaheim with Friends

Find out if teaming up to buy a second home is right for you and your friends.

Given the current strength of the fast-moving real estate market in Anaheim, you might be thinking about buying a second home close to Disneyland or miles from the beach. But what can your vacation home budget realistically get you?

If your vacation-home budget can only afford a fixer-upper instead of a dream home, going in on a purchase with friends or family can be a great way to get much more home for your money. If you are considering going this route, here is how to get started.

1. Decide if this is right for you

The number-one reason to consider purchasing a house with friends is that it lowers your investment amount. Unlike fractional ownership or timeshare opportunities, when people go in together and purchase a property at market price, they will enjoy the equity gains of the traditional real estate market.

The best candidates for shared property are those who want to use the house for a few weeks in the year, then rent out the home when they are not here.

Owners also need to be comfortable sharing ongoing expenses, like property management insurance, fees, utilities and repairs.

2. Lay down the legal groundwork

To protect all owners when unexpected events happens and to avoid hurt feelings, we recommend hiring an attorney to set up an LLC, then purchasing the home through the company.

Owning a home with friends or family is fun and exciting on the front end, but what happens three years later when an owner wants out?

Your lawyer could write an operating agreement that will clear up expectations on everything from how utilities are shared to how a buyout will work if one owner wanted to sell and the others did not.

3. Start searching for a home

Keep in mind that the vacation-home market moves rapidly. With multiple stakeholders needing to agree that a home is the one, it would be best to decide on your shared criteria before you start searching.

This is very important if you are searching from afar or if one person will be doing most of the home touring on behalf of the group. This way, when you find the right property, you could put an offer together quickly.

Treat the whole transaction like a business. Make a spreadsheet with a list of potential properties and a list of pros and cons.

You should also enlist a local real estate professional with expertise in the area where you would like to buy. This person is best qualified to help you identify houses that are a good value, that will do well in the local vacation rental market, and that are in areas likely to appreciate.

There is plenty of legwork in this process, but if you find the right people to partner with and act fast when you find the perfect home, you will be sitting back and enjoying your dream home before you know it.

Thinking of buying in Anaheim or the northern Orange County area? Contact Stacy and Nicole here!

21
Nov

5 Steps to Break Free of Mortgage Trouble for Good in Northern Orange County

The short sale process could seem intimidating, but getting a handle on the steps can make it a lot less scary. A short sale is where homeowners sell their home for less than they owe on their mortgage. This is often the last resort for people who cannot pay their mortgage and are facing foreclosure.

How does a short sale work? Read the steps involved below:

1. First consider a loan modification
Before you assume that you need to have a short sale, speak to your lender or housing counselor about your current situation. You might be able to get a loan modification and avoid having to sell your property.

The federal Home Affordable Modification Program is a project run by the U.S. Department of Housing and Urban Development and might be a good option. If you are eligible for HAMP, your mortgage company will most likely put you on a trial plan for three months. This will give you time to show that you can make timely payments at a new monthly payment level. If you make it through the three-month trial, you might have a new mortgage payment and avoid moving ahead with a short sale.

If you can’t make it through the trial, the next step would be to move forward with a short sale.

2. Speak to your lender about a short sale
Since a short sale means you are trying to sell your home for less than you owe on your mortgage, your mortgage lender will need to sign off on it. But initially, the lender is going to need proof that the short sale is necessary.

The sellers need to submit a short sale packet. This includes hardship papers that show the bank the seller is currently undergoing financial hardship.

That paperwork might include account information and bank statements, copies of bills, pay stubs, asset disclosures and more.

3. Call a real estate agent
You will need a real estate agent to sell your home. Since short sales are complicated, you will want an agent with experience in the short sale process to handle the deal.

The agent will then assess your financial situation as well as the property’s estimated value to estimate a listing price. Click here to get in touch with Stacy and Nicole to schedule an in-home consultation!

4. Listing your home
This is one step in the short sale process that is like any other home sale. The property in question is listed by your real estate agent, who will search for a buyer and get your home under contract.

When you get an offer from a buyer, it must be submitted to your lender for review. Further negotiations might be required between the buyer’s agent, your agent and the lender until a settlement is reached.

If your lender has approved your short sale under the United States Treasury’s Home Affordable Foreclosure Alternatives program, it will be done in about four months. If you did not qualify for HAFA, the process could take longer.

5. Closing the deal
If your mortgage lender approves your buyer, you will move out and the buyer will move in. The money used to purchase the home will go to your lender and your mortgage debt will be forgiven.You will also walk away with three thousand dollars in moving expenses if you qualified for HAFA. If you did not qualify, you simply walk away without the mortgage debt on your shoulders.

Do you need a real estate professional to sell your home? Contact us here!