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Mortgage | Rhonda Hebert Realty Blog

Sunday, November 17, 2019   /   by Angel Murillo

The Cost of Renting vs. Buying a House

Some Highlights:
Historically, the choice between renting and buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year. ...

  house hunting, first time home buyer, real estate, new home, mortgage

Friday, October 25, 2019   /   by Angel Murillo

Think Prices Have Skyrocketed? Look at Rents.

Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.
In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.
 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”
Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, and that the trend is accelerating:
“The median U.S. rent grew 2% year-over-year, to $1,595 per month. National rent growth is faster than a year ago, and while 46 of the 50 largest markets are showing deceleration in annual home value growth,; ...

  first time home buyer, new home, mortgage

Monday, October 21, 2019   /   by Angel Murillo

5 Tips for Starting Your Home Search

In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.”
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach. This will help you avoid the disappointment of falling in love with a home well outside your price range.
2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’
Do you really need that farmhouse sink in the kitchen to be happy with your home choice? W; ...

  house hunting, first time home buyer, mortgage

Friday, October 4, 2019   /   by Angel Murillo

3 Signs the Housing Market Is on the Rebound

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound.
1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.
2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity.Here is the month-over-month growth:
The Northeast rose 0.7%
The Midwest increased 0.6%
The South increased 1.4%
The West grew 3.1%
3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.
The Northeast is up 5.9%
The Midwest increased 1.3%
The South is up 2.7%
The West grew 2.2%
In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:
“The trend we saw in year-over-year buyer traffic in previous months contp ...

  house hunting, real estate, mortgage

Tuesday, October 1, 2019   /   by Angel Murillo

What's the First Step in Buying a Home? Your Answer Here

What is the first step in buying a new home? Nope—it's not leaping into buyer mode by picking out a real estate agent who has pretty homes, setting up a home inspection, and then moving in your sectional couch.
Real estate agents agree that long before you peruse listings or check out open houses, you should talk to a lender about your credit score, so that you can secure a motgage.
"Talk to your bank or a reputable mortgage company to see what you qualify to purchase," explains Rossan Nitti, a Realtor® with RMN Investments & Realty Services, in Laguna Beach, CA.
Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more. Once you've figured out this (seemingly) long-term financial process, a real estate agent can help you become a home buyer with these next steps, like choosing between apartments or single-family homes, home inspections, and so on.
Continue art; ...

  house hunting, first time home buyer, mortgage, new home

Rhonda Hebert Realty
Rhonda Hebert & Thomas Sitterly
317 S. Hwy 101
Solano Beach, CA 92075
CA DRE# 01372413

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