Author Archives: reginasingh

#Viewhome #AnaheimHills #PricedtoSell #ReginaSingh

8343quietcanyon.ihousenet.com


Great opportunity to live on a quiet double cul-de-sac street in Anaheim Hills walking distance to local parks, trails and schools. Enter the home thru a gated front yard that wraps around to a spacious back yard with numerous exotic mature fruit trees. Enjoy colorful sunset skies and peaceful sunrises in your backyard. The bright and open floor plan offers lots of windows and vaulted ceilings. Kitchen has stainless steel appliances and granite counters. Master bathroom has dual sink vanities and a walk-in closet. Two car attached garage includes lots of storage cabinets. Freshly painted exterior. Prestigious Anaheim Hills schools. Bring your imagination and customize your dream home.

How Long Do Most Families Stay in Their Home?

How Long Do Most Families Stay in Their Home? | Keeping Current Matters

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

How Long Do Most Families Stay in Their Home? | Keeping Current Matters

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

With home prices rising dramatically over the last several years, 93.9% of homes with a mortgage are now in a positive equity situation with 78.8% of them having at least 20% equity, according to CoreLogic.

With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light by NAR in their 2017 Home Buyer and Seller Generational Trends Report. According to the report,

Sellers 36 years and younger stayed in their home for six years…”

These homeowners who are either looking for more space to accommodate their growing families or for better school districts are more likely to move more often (compared to 10 years for typical sellers in 2016). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; They could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family.

These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge in the current housing market, this could be great news.

Hey, Millennial Homeowners!! It May Be Time to Sell. Call #ReginaSingh

Hey, Millennial Homeowners!! It May Be Time to Sell | Keeping Current Matters

Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise .

Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:

1. Equity Build-Up

Home prices have been on the rise since the beginning of 2012 and your house may have appreciated by more than you think. ATTOM Data Solutions , in their Q2 2017 U.S. Home Sales Report revealed that:

“…homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000.

The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.”

2. Projected Home Price Increases

If you just got married or just found out you are about to become a parent, you may have plans to move up a bigger home or perhaps move to a different area. Waiting to buy a more expensive home in this market probably doesn’t make sense. The experts contacted for the Home Price Expectation Survey are projecting home prices to increase by nearly 5% over the next year. Yes, your house’s price will increase but not as much as a home currently valued higher than yours.

3. Projected Interest Rate Increases

The Mortgage Bankers’ Association Freddie Mac, Fannie Mae and the National Association of Realtors are each projecting mortgage rates to increase over the next year.

Higher PRICES + Higher INTEREST RATES = LARGER MORTGAGE PAYMENTS.

Bottom Line

If you are lucky enough to be one of those Millennials who purchased a house in 2010 (or even later), now might be the perfect time to move up to the home of your dreams!

#JustListed #LuxuryHome #YorbaLinda – #OpenHouse Friday 4-7pm

Watson_03

http://18275watsonway.ihousenet.com/

18275 Watson Way, Yorba Linda
Open House 8/11 from 4-7pm

Experience luxury in this Toll Brothers Hialeah Craftsman estate home at the Legends at Vista Del Verde golf course community with NO Association and NO Mello Roos. Enter the home through a well manicured garden and double doors into a spacious foyer. Entertain in the pool sized backyard with a custom gazebo and a built-in bbq island, bask in the soothing sounds of the water fountain, wind chimes and birds and savor the numerous exotic mature fruit trees. This open floor plan executive home features 10′ first floor ceilings, 9′ second floor ceilings with 8′ tall doors and a large balcony with views. Culinary delight chef’s kitchen with steel appliances that include a 6-burner stove with a griddle, double ovens, warming drawer, dishwasher, built-in refrigerator and microwave, abundant maple cabinetry, granite countertops with full backsplash and a walk-in pantry. The immaculate living space showcases custom tile floors, crown molding and extensive custom wood paneling in the foyer, family room and the master bedroom. Luxurious master suite with double doors offers a large walk-in closet, king-size Kohler jetted tub, large shower with dual heads and spacious vanity. Convenient Guest Bedroom downstairs has a walk-in closet and attached bath. ALL 3 secondary bedrooms upstairs have walk-in closets and attached baths. Large Bonus Room is ideal for a play area or a work space. 3-car epoxy sealed tandem garage with custom cabinets. Prestigious award-winning schools.

Do Your Future Plans Include a Move? Call #ReginaSingh

Do Your Future Plans Include a Move? What's Stopping You from Listing Now? | Keeping Current Matters

Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs? How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house.

According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the course of the last year. On the West Coast, homeowners gained twice that amount, with homeowners in Washington gaining an average of $38,000!

Do you know how much your home has appreciated over the last year?

Many homeowners would be able to easily sell their current house and use the profits from that sale to purchase a condo nearby in order to continue working while eliminating some of the daily maintenance of owning a house (ex. lawn care, snow removal). With the additional cash gained from the sale of the home, you could put down a sizeable down payment on a vacation/retirement home in the location that you would like to eventually retire to. While you will not yet be able to live there full-time, you can rent out your property during peak vacation times and pay off your mortgage faster. Purchasing your retirement home now will allow you to take full advantage of today’s seller’s market, allow you to cash in on the equity you have already built, and take comfort in knowing that a plan is in place for a smooth transition into retirement.

Bottom Line

There are many reasons to relocate in retirement, including a change in climate, proximity to family and grandchildren, and so much more. What are the reasons you want to move? Are the reasons to stay more important? Meet with a local real estate professional who can perform an equity evaluation to determine your options, today!

Suburban Poverty Is Growing—and It’s Affecting Housing Markets

Poverty is something most Americans don’t like to think much about—unless they’re struggling to rise out of it. When they do focus on it, images of rural shacks or dilapidated neighborhoods in crime-ridden cities usually come to mind.

Except that’s no longer quite so accurate. In recent years, poverty has increased the most in the nation’s suburbs and exurbs. The numbers tell the rather startling story: High-poverty neighborhoods shot up 76% in the suburbs and 123% in the exurbs (farther-out suburbs on the edges of metros) from 2000 to 2015, according to an analysis from Apartment List. The rental website analyzed a recent Harvard University’s Joint Center for Housing Studies report.

The reason: “It’s gotten too expensive to live in the core cities, so people are moving out to the suburbs,” says Andrew Woo, Apartment List’s director of data science. And many are bringing their financial challenges with them to their new nonurban life. “Poverty is spreading and concentrating in high-poverty neighborhoods. … It causes property values to fall. It tends to shift [communities] more from ownership to rentals.”

The problem is nationwide. The number of people living under the federal poverty line skyrocketed 41% from 2000 to 2015 as the financial crisis and the ensuing recession raged on to reach 47.7 million people, according to the Harvard report. The number of high-poverty neighborhoods (where the poverty rate is 20% or higher) also jumped 59%. That means that about 54% of the poorest Americans now live in high-poverty areas.

Read more.

 

%d bloggers like this: