New property to hit the market!

Month: July 2014

Check out our newest property for sale!

26257 Boulder Ln, Twin Peaks, CA, 92391


Experience your very own tree house surrounded by beautiful Pines. Two bedrooms, two bathrooms (master suite has been expanded with dressing area, laundry area & oversized closet), huge living room, dining area, vaulted ceilings, great deck to enjoy stunning view. Large front and back yard with endless possibilities, fenced dog run right out your back door and a finished buildup for a possible workshop(access from inside the home). Stairs and deck have been freshly painted. “May be purchased Turnkey”.  To view the virtual tour for this property, please visit our YouTube account here. 

Lower interest rates perk up CA home sales in June; market more balanced


LOS ANGELES (July 16) – Lower interest rates and stabilizing home prices combined to boost home sales in June, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.  However, diminished home affordability remains a challenge for buyers, particularly in high cost areas of the state.


Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 394,930 units in June, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  June marked the eighth straight month that sales were below the 400,000 level and the eleventh straight decline on a year-over-year basis.  Sales in June increased 1.5 percent from a revised 389,060 in May but were down 4.8 percent from a revised 414,830 in June 2013.  The statewide sales figure represents what would be the total number of homes sold during 2014 if sales maintained the June pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.


“While June home sales rose at the statewide level, the market is still constrained by tight supply and low housing affordability in areas of high demand, where job growth is robust and international buyers have a strong presence,” said C.A.R. President Kevin Brown.  “Overall, however, with inventory improving and home sales slowly moving back up, the market is more balanced, and we could see further market normalization in the upcoming months as interest rates remain at the lowest levels we’ve seen so far this year.”

The statewide median price of an existing, single-family detached home slipped 2 percent from May’s median price of $466,320 to $457,160 but was up 6.6 percent from the revised $428,700 recorded in June 2013.  The statewide median home price has increased year over year for the previous 28 months, marking more than two full years of consecutive year-over-year price increases. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.


“Home prices are finally increasing at a healthier pace, and the smallest year-over-year price gain in more than two years suggests that prices are stabilizing,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “Last year’s frenzied market of multiple offers, which drove sales prices above listing prices, has tapered off as the sales-to-list price ratio has dropped to a more normal level at nearly 99 percent, which signals a return to a more balanced market.”


Other key facts from C.A.R.’s June 2014 resale housing report include:


• Housing inventory edged slightly higher in June, with the available supply of existing, single-family detached homes for sale increasing from 3.6 months in May to 3.7 months in June. The index was 2.9 months in June 2013.  The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A six- to seven-month supply is considered typical in a normal market.
• The median number of days it took to sell a single-family home also rose in June, up from 31.6 days in May to 33.9 days in June and up from 27.8 days in June 2013.
• Mortgage rates dipped in June, with the 30-year, fixed-mortgage interest rate averaging 4.16 percent, down from 4.19 percent in May but up from 4.07 percent in June 2013, according to Freddie Mac.  Adjustable-mortgage interest rates in June averaged 2.40 percent, down from 2.43 percent in May and down from 2.60 percent in June 2013.


Graphics (click links to open):

• Unsold Inventory by price range.
• Change in sales by price range.
• Share of sales by price range.

Original Source:

If you are a first time home buyer and thinking about purchasing a home, It may seem confusing as to where you should start.  Do I speak to a lender first? Search on the internet to see what homes are selling for in my area? How much money will I need for a down payment? What will my interest rate be and how much will my monthly house payment be? I have received a gift from a family member for a down payment, can I use that for my down payment? What is seasoning money mean? All of these questions are great but your lender is the first person you need to speak with regarding qualifying for a loan and go about providing your agent with a prequalification letter.

A lender can explain the types of loans whether your a first time home buyer with 3.5% down and FHA loan or up to a conventional loan with 20% down. You provide them with your information and they look at all of the different loans to see which will suit your needs the best and get you the most with what you have.
Speaking with a lender helps you set realistic expectations on what you will be able to afford. This will allow your real estate agent to keep within your price range, saving you time as opposed to looking at homes you may not qualify for. The worst thing that could happen is for you to find a home you love and then find out it’s just outside of your price range. Being pre-approved for a loan shows sellers that you are serious about purchasing a home as well as a lender can help answer questions you may have regarding the home loan process. If you are unsure of the eligibility requirements or if you might qualify for a specific loan, the lender is the person to ask. Often times, people get random information from friends or the internet, many of which are not applicable to their specific situation.
It is a good idea to plan which lenders you would like to speak to before running your credit. There is a “grace period” of a few weeks in which multiple lenders can run your credit score, and if all within this period, would only mark your credit once total rather than for each inquiry. While the lender can guide you in all of the paperwork they will need from you, you can prepare by having copies of the last 2 years complete filed Federal tax returns to include W-2’s.  If self employed or partnership you will need those returns as well. State returns are not required. They will also need copies of your pay stubs for the most recent 30 days. In addition, bank/investment statements for the most recent month for any funds to be used in this transaction, will be necessary.  In all documents, be sure to include all of the pages.
If you are unsure of which lender to use, a real estate agent can assist you in finding a lender that will best fit your needs. Real Estate agents are required to give you more than one option in that regard. The agent will also be happy you are on the road to your pre-approval as it will give them the information needed to help you find your dream home that is perfect for you and your family
Once you speak with your lender and receive a pre-qualification letter, your real estate broker can assist you with finding the right home to fit all your needs, at the price you qualify for so you can maximize time spent looking for your dream home. We are here to help you understand the process to make it a smooth and stress free transaction!