Can tech outsmart the housing shortage?

Like most industries, real estate has welcomed a flood of tech investors seeking change, profit, and “disruption.” And though Silicon Valley venture capitalists and tech investors came to real estate relatively late compared to other fields, real estate tech’s big 2017 shows it’s trying to make up for lost time.

Coworking colossus WeWork is now valued at $20 billionFifth Wall Ventures, a fund dedicated to real estate technology, raised $212 million. Redfin had a big IPO, Commonraised millions for coliving, and let’s not forget Airbnb’s continued expansionForbes estimates that investment in real estate startups globally has ballooned from $2.4 billion to $33.7 billion between 2008 and 2017.

In real estate, as in other industries being transformed by technology, you can measure the commercial and cultural shift through language. Read More

WeWork location in L.A.
A WeWork location in Los Angeles WeWork

Ideas To Reduce Home Insurance Costs

Insurance payments can be burdensome, but they are a necessity for you, your family, and your home. A few things you can do to help reduce your insurance costs are: Don’t switch companies too often, this may help reduce your payments or provide you with free credit from companies who reward for loyalty. Shop around for the best prices; check out comparison sites on the internet. Have plenty of smoke alarms throughout the house, and a burglar alarm to reinforce the fact that you are low-risk. Don’t be afraid to ask about discounts, you may be surprised by special perks. Bundling can sometimes reduce costs, consider bundling your auto and home insurance together for a discount. Also, maintain a good credit score, and if your score is low, take steps to improve it. More here

Credit Score Tip – Will Rate Shopping Damage My Credit Score?

I hope you’re doing well! When you’re in the market for a mortgage loan and looking for the best rates, you may be wondering if multiple credit inquiries will affect your credit score.

New credit ‒ including credit inquiries ‒ accounts for 10 percent of your total credit score. Any time you give written authorization to a lender to pull your credit report, it’s called a “hard inquiry.” This pertains to any application for a mortgage loan, auto loan, student loan, new credit cards, or bank loans. Each hard inquiry can cost you anywhere from 1 to 5 points.

So, if you were to apply for all these different types of loans within a short period of time, you can expect your credit score to drop, based on too many credit inquiries.

Likewise, if you apply for multiple credit cards at the same time, that legitimately adds multiple inquiries to your credit report and increases your risk factor. Revolving debt is considered a higher risk, because each credit line has its own spending limit. You could potentially max out every card and decrease your ability to honor other financial obligations.

The good news is, most credit scoring systems understand that if you’re shopping for a car or interested in buying a home, that’s a big investment and you’re going to want the best deal you can possibly get.

If you apply for multiple mortgage loans within a 14-day period of time, most credit scoring systems will lump all of those requests into one inquiry. They recognize that you are shopping for the best rates. (You could have up to 45 days, depending on which credit scoring system and software version each lender uses. 14 days is considered the “safe zone”.) This gives you some leeway to shop around without hurting your credit score.

I’m not trying to encourage you to shop around for your mortgage loan, because I want to earn your business and be your mortgage consultant for many years to come.

Based on my honesty, I hope that you will come to me for all your mortgage needs. My team and I are ready to invest our time and commitment to get you the best mortgage loan we possibly can, and help you achieve your long-term financial goals.

Please feel free to give me a call if you have any questions. I’m here to help! 

 

Negotiating Your Way to Your Dream Home!

Most people are prepared to negotiate when they go car shopping. But, what about when buying a home? Savvy homebuyers understand that everything is negotiable!

It’s a good idea to sharpen your negotiating skills, or work with a talented real estate professional that can help you negotiate the best deal. Here are some areas that have room for negotiation.


•    The purchase price
•    When you can move in
•    Painting: Part of the home or the whole thing
•    Repairs: Roof, plumbing, windows, etc.
•    Yard: Landscaping, removal of unwanted trees or bushes, etc.
•    Fixtures: Which lights, fans and appliances stay or go
•    Furniture: Whether the seller will leave certain pieces
 
I recommend working with an experienced professional who knows the market and is ready to negotiate on your behalf. Please let me know if you need a referral to one of the preferred real estate agents in my network.

My team and I are ready to help you secure the best loan program to meet your needs. Please contact me to schedule a consultation. Our goal is to provide you with such great service, that you will gladly refer your family and friends to us for assistance with their mortgage planning.

Making an Offer

After weeks or months of searching, you’ve finally found it: the home of your dreams! While one challenge has been overcome, you now begin the negotiation process, starting with making your initial offer.

Here are a few tips to help ensure your success:

  • Ask your REALTOR® to show you selling prices of similar homes in the same area, which sold over the past year. Offer the lowest price (or less) that any comparable home has sold for, and increase your offer to compensate for any additional features.
  • If you have time and money, hire an appraiser, so you have objective data on current market conditions to support your offer.
  • Offer a larger deposit if you’re competing for a hot property.
  • Give your deposit to a neutral party (agent or escrow company) so it can be held in a trust account until the offer is accepted and the deal closes.
  • Make sure the escrow instructions state that your deposit will be automatically returned if the deal doesn’t go through within a specified time period.
  • Spell out the type of mortgage you’ve secured.
  • Offer the full price if you want to beat out the competition or get better terms.
  • Give yourself a way out of a purchase agreement with contingency clauses.
I hope these tips help you purchase your dream home. I’m always available to serve as your mortgage planner, and I appreciate any referrals to others who may benefit from my expertise.

House Hunting Tip

Ever feeling overwhelmed searching for the perfect house? I have listed some helpful points to help eliminate some of that stress.

  1. Limit the homes you look at in one session to three, so it is easier to focus on the details.
  2. Take a picture of the homes that appeal to you, so you can remember their features.
  3. Ask questions about any problems in the home before you make an offer.

I hope this helps you in your search. As always if you know anyone who could benefit from my services, please tell them to give me a call.

Making House-Hunting Easier

Knowing how much house you can afford is just a starting point in your search for a new home. By answering the following questions, you can narrow down what features are most important to you:

•    How many bedrooms and bathrooms do you need?
•    Do you want a new home or would you prefer an older one?
•    Are there special features you must have?
•    Is the school district a factor for you?
•    Do you want to be close to a shopping center?
•    Is commuting to work an issue? If so, how far are you willing to drive?
•    Will you accept any style of home? What about colors?
•    Do you want a fireplace, pool and/or air conditioning?

Searching for a new home can be overwhelming.
Here are a few tips to make it a bit easier!


•    Take a notepad and map with you. Save each home’s fact sheet.
•    Limit the homes you look at in one session to three, so you can focus on the details.
•    Take a picture of the homes that appeal to you, so you can remember their features.
•    Make sketches of floor plans to help you compare the homes you like.
•    Ask questions about any problems in the home before you make an offer.


I hope these tips help you find the home of your dreams!

I look forward to assisting you with financing, and please keep me in mind if you know anyone who could benefit from my services.

A Few Tips on Internet Fraud

 

Image result for internet fraud

The more we use the Internet, the more we appreciate its convenience. Unfortunately, the Internet is also a main hub for exploitation that can sometimes seem surprisingly genuine. Here’s a quick rundown on the top 5 Internet fraud scams that you should watch out for.

1.    The Nigerian 419 Scam: This scam actually dates back to the early 1800s, and while Nigeria has been flagged for notorious Internet scam, it could actually come from any country. The sender claims to be from a wealthy family and wants to move a large sum of money out of the country. If you assist by paying legal and miscellaneous fees, you are promised a percentage of the money. Of course, the reality is, you’ll never get any of the money that’s promised. They’re simply draining you of funds as long as you participate.

2.    Advanced Fees Paid for a Guaranteed Loan or Credit Card: If you receive an offer of a guaranteed line of credit that requires advanced fees, don’t buy into it! No reputable bank or credit card company asks for up-front fees. This scam is obvious if you take the time to read the fine print.

3.    Lottery Scams: This email scam congratulates you as a winning participant in a lottery. The catch is, you have to pay advanced fees to collect the winnings. Simply put…if you didn’t buy a ticket, you really didn’t win any lottery. Don’t fall for it!

4.    Phishing: This is the most widespread Internet fraud scheme, in which digital con artists attempt to acquire usernames, passwords, credit card details, or other personal information. The scammer sends an email out masked as a bank, online processor, or a popular website. But, when you click on the link, you go to a fake website (that looks like the real thing) and unknowingly divulge your ID and password to the scammer. Legitimate companies don’t ask for this type of information by email or text. Don’t click on the links!

5.    Overpayment Scams: This scam targets people selling high-ticket items such as cars, boats, trailers, etc. The scammer responds to your classified or online ad, and they make up a reason to pay more than the selling price you’re asking for. However, they want you to wire the difference back to them, after you deposit their check. Meanwhile, the check they’ve given you is counterfeit, and you lose money. To combat this scam, never accept a check for more money than your selling price, and never wire funds back to a buyer.

For more information to protect yourself from (or report) Internet fraud, visit the Federal Trade Commission’s website at www.consumer.ftc.gov. And, as always, please do not hesitate to contact me if I might be of any assistance to you!