Honestly? This Made Me Think of My Big Sis!

I realized I hadn't blogged about any home improvement, design, remodeling, etc. for the entire month!

Took a look at some of my faves....i.e. read all the Houzz articles I had stockpiled!

And, since we're stuck at home a lot, and supposedly many are drinking a lot....this seemed pretty appropriate to blog about.

The Home Bar, As In, Where The Booze Looks Pretty!

Usually we see shelves attached to rear walls,

 I dig this hanging from the ceiling look instead.

And, lookie here!!! Who does an accent wall in their home bar area? Loved this!

YIKES!!! Talk about a statement!

Is there some Blue Alcohol that someone loves here?

I honestly don't see a ton of home bars when I'm showing homes. There are a couple tracks in Valencia & Saugus that were built with them, but not very many.

Anywhere you have a space, you can create a lovely home bar. Do you have one? We don't. I keep a few mini margaritas in the fridge with white wine chilling. Maybe have an extra bottle of white on the counter. But, I'm not a huge drinker and don't 'party' like I used to.....

North Carolina Did a Remote Online Notarization.... Is California Next?

One of the things a lot of escrows are doing is having loan doc signing out of their physical offices. A traveling notary has to accept the assignment and obviously during this pandemic, wear all the appropriate PPE when he/she meets with the clients.

In North Carolina their very first remote online notarizing happened this past Friday. I'm hoping for California to allow this in the future & I'm betting someone in the industry is fighting for it right now.

With the surge in home loans, refinances, etc. we are seeing a lot of notaries still working to ensure those documents are truly signed by the valid signer. We appreciate that for sure!

But, with the latest uptick in Corona Virus cases in California, we have to wonder how much longer they will feel comfortable with in-person signings. Let alone, if our pool of Notaries will dwindle as, hopefully not, a few actually get the Virus. #BeSafe

This is currently the rules in Cali: California Law does not provide the authority for California notaries public to perform a remote online notarization. The personal appearance of the document signer is required before the notary public. However, California citizens who wish to have their documents notarized can seek a mobile California notary public.

Great Math Info From A Local Lender!

This dropped into my email this morning & I thought it was great to share....let me see if I need to correct any grammar! And, yes, I've added some of my comments in his in purple below as well.

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I was going over a few files last week and my brain started to tingle, and a light went on, which at my age, that is rare! He's like 60 tops! I was going over a file that had a $300 HOA and 2.3% Property taxes. Standard is about 1.33. So I was thinking with my math brain and what is the true cost of this home in comparison to a comparable home with a similar payment with these low interest rates.  Well, I am excited to say that I have the answer!
 
So if a client is to buy this house at $550,000.00 with a $300 HOA and 2.3% Taxes they will have the following payments for Principal Interest taxes and Insurance:

3.5% down FHA - $4042.97
10% down conventional  $3619.34
20% down conventional - $3250.43  

Now what could they get for the same payment with 1.25% Really, more like 1.33, taxes and say a $50.00 HOA? 
3.5% gets them a $770,000.00 purchase price with a payment around $4042.97
10% down conventional gets them a house at $685,000.00 with a payment around $3619.34
20% down with a  conventional loan gets them a house valued at $710,000.00 with a payment close to $3250.00
 
Because rates are so darn low, HOA and additional taxes seem to be a larger portion of the payments on a lot of properties.  $25,000 in loan amount is about $100.00 in payment at these interest rates depending on the type of loan you are doing. Wowza! So in comparing properties, a house with $500.00 a month additional property taxes / HOA should be compared to a property that is priced $125,000.00 more.  Yup, I wrote it and it is true… for now.  This will change when interest rates rise! Who knows when they will though!
 
Interest rates are still wonderful!  Rates have been below 3.50% 11 months in the past 60 + years.

• 30 year conventional loans are in the High 2’s for the most part!    
• 30 year Government Loans (FHA / VA) are in the mid 2’s
• High Balance Loans $510,401.00-765,600.00 are in the high 2’s and low 3’s
• Jumbo loans above $765,600.00 are in the low to mid 3’s.
• Bank statement loans – They are available with 15% down!   Hmm, we were at 10% down pre Covid.
• Stated income loans  - I have one bank with 30% down, but everything else has to be perfect!       
• 0 down loans are in the high 3’s - 660 credit score min right now!
• Private Money lenders are stepping in to a lot of business right now and we have many of those loan programs available.  35% down! 
• First time Buyers Tax Credits are back, but on a very limited basis!  20% Tax credit on the interest they pay!  Fabulous program! 

Interest rates are subject to change without notice!  Above are LA County Loan Limits. 

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Hopefully this helps you as you're out looking for homes! Well, at least while you're looking online for homes!

Real Estate Stories of This Week!

As true to all my Real Estate weeks, this one has been a Roller Coaster but mostly the loop-de-loops have been quite enjoyable!

I met with a dear friend and gave her a starting list to prepare her home for a future sale. And, we had a great visit chatting about life too. Love.

A Buyer I'm working with has questions here and again for the Seller. So, I have to go through the Listing agent to get the answers. We've dubbed, well I've dubbed, him the two times a charm agent as I have to text/call/email at least twice to get a response. One text just came back as expired. Patience & Perseverance.

Sellers, a relocation situation, I've been working with has had a dastardly buyers agent. She's been very dramatic, telling mis-truths, extremely pushy. I actually had to raise my voice to her. We're closing early next week and when I spoke with my clients I felt I needed to apologize as they certainly could feel my annoyances towards the agent. They said 'Oh No. We loved that you were obviously willing to fight for us!' Lauren for the Win!

Couple that I met via a Facebook group that interviewed several agents are getting close to closing as well. They asked if we could possibly close early. Worked my tush off and poof! We're closing early. Funny part is the Seller sent me an email asking some questions that I'd been asking his agent about. I let the agent know his client emailed me, all good. I'm guessing his agent wasn't as available as I was? OCD here.

Another Seller couple that I'm working with we are waiting on the buyers appraisal to come in. It's their first time Selling, so they don't necessarily know exactly how the process is supposed to work, even though it's similar to when we bought this home, but always asks good questions. Teacher Mode.

A great check-in call with an upcoming Seller that I met with last week. They are busting their hump to get on the market ASAP. Motivator.

Young couple I took out last night....got their first true glimpse of how flip houses are not always done as pretty as the pictures show. Educator.

And, there is one of my faves....a young man that I've been working with who I am teaching patience to. Me? Yes, me, the impatient one....is teaching patience. LOVE WHAT I DO!

Want to be one of my next Real Estate stories?

I Can't Help Myself!!!

Because I've been a Realtor for almost 20 years, I read a lot of stuff about housing. 

The most entertaining was one that I received a few days ago from a housing news sources' Editor in Chief.

THIS IS NOT A POLITICAL POST....don't go all crazy now.

it's meant to remind you of what's important and possibly giggle a bit too.

"Good afternoon —

We’re always looking for presidential candidates to outline where they stand on housing policy issues so we can highlight those positions for mortgage and real estate professionals. Unfortunately, in this election season, we’ve often been sorely disappointed, like the time I listened to the presidential debate for three hours with zero mentions of anything to do with housing. Oh wait, that was all the debates! (Well, except for the time former HUD Secretary Julian Castro made the same point at a debate.)  

Then, along comes Kanye.

The day after he announced he was running for president, Kanye West also tweeted out an image of several dome structures, potentially influenced by Star Wars, that point back to an affordable housing initiative he started on his own property. Admittedly, that doesn’t constitute a policy discussion, but the man has been a candidate for ONE DAY and brought up housing already. 

The 2020 election is just as strange as everything else going on right now, but housing is fundamental to life, liberty and the pursuit of happiness and shouldn’t be ignored. Joe Biden could do worse than follow Kanye’s example here. (Adding this to phrases I never imagined I would write.)

Until the next crazy thing happens,

Sarah Wheeler

HousingWire Editor in Chief"

I think affordable housing is ever so important. I think home prices are too high right now. I think that allowing the ADU's to be put on properties is a great thing to help with that....whether they are dome shaped or she-shed shaped. So, hey, Kanye just may get my vote! 😉

Still Blown Away By Interest Rates!

Yup, absolutely blown away........ The below information is provided by a local mortgage broker  that has been in the business for a bazillion years. Needless to say, these rates depend on a lot of things..  including FICO scores,  Debt-To-Income ratios, Down Payments, and more.... But, still, yup, still what'd I say? BLOWN AWAY! Rates have been below 3.50% 10 months in the past 60 + years. 30 year conventional loans are in the High 2’s and low 3’s.    30 year Government Loans (FHA / VA) are in the mid to high 2’s and low 3’s. High Balance Loans $510,401.00-765,600.00 are in the high 2’s and low 3’s. Jumbo loans above $765,600.00 are in the low to mid 3’s. Bank statement loans – They are available with 15% down. Stated income loans  - He has one bank with 30% down, but everything else has to be perfect!        0 down loans are in the 4’s - 660 credit score min right now! Private Money lenders are stepping in to a lot of business right now and we have many of those loan programs available.  35% down!  First time Buyers Tax Credits are back, but on a very limited basis!  20% Tax credit on the interest they pay!  Fabulous program!  Interest rates are subject to change without notice!  Above are LA County Loan Limits.

Yay! Another New Form.....That is Absurdly Unnecessary....IMHO.

Come on already!!! Yes, we have gotten a ton of new forms due to the Corona Virus Pandemic. Most have been revamped numerous times. And, we'll likely see them revamped a few more.

But, this newest one? You've got to be kidding me? Doesn't everyone know about ALL of these things before they go house hunting?

Common sense seems to be forgotten if we have to use this form, and my company is requiring it starting July 1st! Common sense for the buyers, the Realtors showing their buyers, agents hosting open houses....what's that the kids say? Cray-Cray!

The first paragraph is the most important one that every agent should regularly remind buyers about. Mostly because if you mention how much you love a home "and would pay anything to get it" & it's picked up on the Sellers security system because they forgot to tell us there was one.....all negotiations go out the window!

The rest? Common Sense People! LOLOLOL