5 Reasons to Sell Your Home This Spring

Here are five compelling reasons listing your home for sale this spring makes sense.

1. Demand Is Strong

The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 47 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 4.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Check out my latest listing! #wendyj4homes #realestate #whittier #realtor #glenbrook #realestateagent #socal #newlisting

Spring is a great time to sell! #wendyj4homes #realestate #whittier #realtor #glenbrook #realestateagent #socal

Spring is a great time to sell! #wendyj4homes #realestate #whittier #realtor #glenbrook #realestateagent #socal

What Credit Score Do You Need To Buy A House?

There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed!

Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:

• 16% Very Poor (300-579)
• 18% Fair (580-669)
• 21% Good (670-739)
• 25% Very Good (740-799)
• 20% Exceptional (800-850)

Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said,

“Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low FICO® scores,”

There are many programs available with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a minimum FICO® score of 580 if you want to qualify for the low down payment advantage. The US Department of Agriculture (USDA) does not set a minimum credit score requirement, but most lenders require a score of at least 640. Veterans Affairs (VA) loans have no credit score requirement.

As you can see, none of them are above 700!

It is true that the average FICO® score for all closed loans in January was 726, but there are plenty of people taking advantage of the low credit score requirements. Here is the average FICO® Score of closed FHA Loans since April 2012 according to Ellie Mae:As you can see, that number has been dropping for the last seven years. As a matter of fact, the average FHA Purchase FICO® Score reported in January 2019 was 675!

One of the challenges is that Americans are unsure about their credit score. They just assume that it is too low to qualify and do not double check. Credit.com confirmed that only 57% of individuals sought out their credit score at least once last year.

FICO® reported,

“Since October 2009, the average year-over-year FICO® Score has steadily and consistently increased, from a low of 686 in 2009 to the latest high of 704 as of 2018.”

Here is the increase in the average US FICO® Score over the same period of time as the graph earlier.

Bottom Line

At least 84% of Americans have a score that would allow them to buy a house. If you are unsure what your score is or would like to improve your score in order to become a homeowner, sit down with a real estate professional that can help you to set a path to reach your dream!

Los Angeles County Calendar of Events

Easter Hoppening Event   Apr. 5  Enjoy a fun-filled afternoon filled with an egg hunt for children ages 1-10, bounce houses, food trucks, crafts, photos with the Easter Bunny, carnival games and more! Time/Place: 3-6pm / Malibu Bluffs Park   Contact: www.malibucity.org Formula Drift   Apr. 5-6  The Grand Prix of Long Beach Street Course has been around since 1977. Highlighted by Formula 1, IndyCar, American Le Mans Series, The Pro/Celebrity race, and now Formula DRIFT.   Contact: www.formulad.com Great Race of Agoura Hills   Apr. 6  A celebration of running that features six races including two half marathons: the incredibly scenic Chesebro Half Marathon mostly trail race and the gorgeous Arrowhead Water Pacific Half Marathon road race.  Contact: 877-478-7223 x4 / http://greatrace.run Sierra Pelona Wine Festival   Apr. 6  There will also be gourmet food and specialty items sampling, handmade crafts from local artisans, live music, live auction and lots of fun for a great day.  Time/Place: 12-5pm / Reyes Winery, Santa Clarita   Contact: www.reyeswinery.com West Hollywood Kids Fair   Apr. 6  The event with feature sheriff/fire department equipment and demonstrations, community services/school information, environmental education, health information, face painting, arts & crafts, games and more!  Time/Place: 10am-2pm / Plummer Park   Contact: www.weho.org 5K D*ASH Walk   Apr. 6  DASH is Two-Lifestyles Inc. Annual 5k (3.1 miles) Walk. Held during Sexual Assault Awareness Month. We invite you to join us for this fun family event where we will educate our community on Sexual Assault & Domestic Violence.  Time/Place: 8am-2pm / 1223 E. Avenue S, Palmdale   Contact: www.twolifestyles.com CVHF Craft Beer, Wine & Food Fest   Apr. 6  Endless tastes of great food, wine, and craft beers along with entertainment and dancing, silent auction, and the fun wine toss game. Benefiting Citrus Valley Health Foundation.  Time/Place: 6-9pm / Pomona Fairplex   Contact: www.cvhf.org The Original Renaissance Pleasure Faire   Apr. 6-May 19  Saturdays and Sundays only. Begun in 1963 in Agoura, near Malibu, to create living history for school children and their families, the Faire has grown into an annual interactive playground and gallery for over 200,000 participants and guests.  Time/Place: 10am-7pm / Santa Fe Dam Recreation Area  Contact: 626-969-4750 / www.renfair.com/socal Egg-SIGHT-ment in the Wild   Apr. 7  Look for eggs along the trails and solve a fun puzzle! Followed by arts & crafts and a healthy snack back at the Nature Center.   Time/Place: 10am-12pm / Stough Canyon Nature Center, Burbank  Contact: 818-238-5440 / www.burbankparks.com Masters of Taste   Apr. 7  Thousands of food and beverage enthusiasts for one afternoon full of the finest fares from over 45 Master Chefs.  Time/Place: 3pm / Rose Bowl Stadium   Contact: www.mastersoftastela.com Beverly Hills Earth Day   Apr. 7  There will be a wealth of information available regarding water conservation, drought tolerant planting, earthquake preparedness, smart bikes, alternative energy, recycle - old eyeglasses, printer cartridges, tablets and cellphones, and much more!  Time/Place: 9am-1pm / Beverly Hills Farmers Market, Third St.  Contact: 310-285-2461 / www.beverlyhills.org Westlake Village Spring Fling in the Park   Apr. 7  A petting zoo, face painting, balloon animals, egg hunts for kids under 10, food trucks and much more! Val Surf will be stationed at the skate park providing giveaways.  Time/Place: 2-5pm / Westlake Village Community Park     Contact: www.wlv.org Belmont Shores Roar in the Shore   Apr. 10  Leading the way for the Grand Prix weekend. The event will feature racecars and other exotic cars on display on Corona & Covina avenues & 2nd Street. Time/Place: 5-8pm / Long Beach   Contact: www.belmontshore.org Monsterpalooza   Apr. 12-14  The show is for fans as well as industry professionals with more than 250 exhibitors, live makeup demonstrations, celebrity meet and greets, and a Monster Museum exhibition.  Time/Place: Fri 6-11pm, Sat-Sun 11am-6pm / Pasadena Convention Center   Contact: www.monsterpalooza.com Calabasas Bunny Trail Junior Egg Hunt   Apr. 13  For kids 8 and under. $3 per child. Must buy tickets in advance starting March 11 at De Anza Park. Your youngsters will slowly make their way around De Anzas bunny trail while enjoying face painting and crafts, a petting zoo and the Easter Bunny!  Time/Place: 9am-12pm / Juan de Anza Park     Contact: www.cityofcalabasas.com Breakfast with the Bunny   Apr. 13  There will be springtime crafts, egg hunts, games and activities, light breakfast refreshments, and photo ops with the bunny.  Time/Place: 10am-12pm / Reyes Adobe, Agoura Hills  Contact: 818-597-7361 / www.agourahillsrec.org Spring Fest in the Park   Apr. 13  Bring your family & friends for a fun day of outdoor games and prizes, carnival games, music, and more at West Hollywood Park. And an old-fashioned Egg Hunt! Time/Place: 1-4pm / West Hollywood Park, Great Lawn   Contact: www.weho.org Bunka-Sai Japanese Cultural Festival   Apr. 13  Performances, exhibits, demonstrations, and workshops including Bonsai, Ikebana, dolls, origami, Japanese dance and music, martial arts, flower arranging, calligraphy, a tea ceremony, and more!   Time/Place: 11am-5pm / Torrance Cultural Arts Center  Contact: 310-618-2930 / www.TorranceSisterCity.org Glendale Spring Eggstravaganza   Apr. 13  Egg hunt, carnival games, bounce house, get your favorite face painting, Glendale Rocks! climbing wall and pictures with the Easter Bunny!  Time/Place: 10am-1pm / Pacific Community Center & Park  Contact: 818-548-4098 / www.glendaleca.gov Calabasas Earth Day & Green Expo   Apr. 13  Over 50 exhibitors from all over LA and Ventura counties will be participating to help participants take actions that will save them money through efficiency while protecting our planet.  Time/Place: 2-5pm / Las Virgenes Creek   Contact: www.cityofcalabasas.com Conejo Valley Home Remodeling Show   Apr. 13-14  Over 170 vendors will be on hand with information on everything from kitchen and bath remodeling to interior decorating to landscaping, pools and spas.  Time/Place: Sat 10am-6pm, Sun 10am-5pm / Hyatt Regency Westlake  Contact: 805-529-0760 / www.conejovalleyhomeshow.com Santa Clarita Cowboy Festival   Apr. 13-14  Be surrounded by life on the American Frontier as performers serenade, chuck wagons serve up BBQ treats, and vendors offer one-of-a-kind gear and goods celebrating the Western past with the flair of today.   Time/Place: Sat 10am-7pm, Sun 10am-6pm / William S. Hart Park Contact: 661-250-3735 / www.cowboyfestival.org Chumash Day Powwow and Intertribal Gathering   Apr. 13-14  Celebrates Native Americans from all over the country, representing hundreds of tribes. Native American food, craft vendors, tribal ceremonies and dances.  Time/Place: 10am-6pm / Malibu Bluffs Park   Contact: www.malibucity.org Kidspace Egg Hunt   Apr. 13 & 20  Hundreds of candy-filled eggs will be hidden throughout the Kidspace Gardens just waiting to be found!  Time/Place: 9:30am-4pm / Kidspace Museum, Pasadena  Contact: 626-449-9144 / www.kidspacemuseum.org Alhambra Spring Eggstravaganza   Apr. 20  This fun-filled family event will feature an egg hunt, carnival games, arts and crafts, photos with the bunny and more. Registration is required to participate in the egg hunt.  Time/Place: 8-11am / Almansor Park   Contact: www.cityofalhambra.org Torrance Breakfast and a Visit with Bunny   Apr. 20  Activities will include breakfast; cookie decorating; an egg hunt; a Buster Balloon show; music by DJ OZZIE; a special treat from Bunny and more! Breakfast served until 9:30am.  Time/Place: Torrance Cultural Arts Center   Contact: www.torranceca.gov Burbank Spring Egg-Stravaganza   Apr. 20  Egg hunts, games & prizes, mascot meet & greet, inflatable bounce houses and pictures with the bunny.  Time/Place: 9am-12pm / McCambridge Park: 1515 N. Glenoaks Blvd.  Contact: 818-238-5353 / www.burbankca.gov/eggstrav PAWSAPALOOZA   Apr. 20  Dozens of exhibitors featuring pet-friendly products and services. A selection of food trucks will serve up a delectable variety of food choices, drinks, snacks and goodies. Other fun activities include a Canine Costume Contest and raffle.  Time/Place: 9am-3pm / West Hollywood Park   Contact: www.pawsla.org Sipurbia Wine & Beer Festival   Apr. 27  Unlimited samples of over 20 beers and 25 wines. Throughout the day, there will also be DJs and several live bands. Enjoy nearly 50 exhibitors, food trucks, and lawn games.  Time/Place: 3-7pm / King Gillette Ranch, Calabasas   Contact: www.sipurbia.com Wine Walk   Apr. 27  Enjoy a selection of wine tastings at participating venues while exploring the Playhouse District. Cost $25.  Time/Place: 4-7pm / 39 S. El Molino Avenue, Pasadena  Contact: 626-744-0340 / www.playhousedistrict.org Cancer Support Community An Evening of Hope Gala   Apr. 27  Cocktail reception, 3-course dinner, live entertainment, dancing, silent, and an exciting live auction. The evening promises to honor those that have made a notable impact on the well-being of local cancer patients and their families.  Time/Place: 6-9pm / Four Seasons Hotel, Westlake Village  Contact: 805-379-4777 / www.cancersupportvvsb.org Diamond Bar Earth Day & Arbor Day   Apr. 27  Free Smart Gardening and Composting Workshop. Paper Shredding E-Waste and Textile Recycling. Garden Mulch. Childrens Fun Area. Green Exhibits.  Time/Place: 9am-2pm / 21865 Copley Drive   Contact: www.diamondbarca.gov West Hollywood Arbor Day Celebration   Apr. 27  Community members are invited to come plant trees.  Time/Place: 9-10am / Laurel Park   Contact: 323-848-3116 / www.weho.org California Poppy Festival   Apr. 27-28  Music, art, food and fun celebrating the state flower of CA and the appearance of poppies in the Antelope Valley!  Time/Place: 10am-6pm / Sgt Steve Owen Memorial Park  Contact: 661-723-6077 / www.poppyfestival.com Santa Clarita Valley Championship   Apr. 27-28  The entry fee includes two rounds of golf, a golf cart, green fees, snacks, water, tee prizes, and dinner at the Awards Banquet on Sunday following completion of the tournament.  Time/Place: Sand Canyon Country Club   Contact: www.scvbgc.org/golf KHTS Home and Garden Show   Apr. 27-28  Discover the latest in solar energy, pool & backyard design, kitchen remodeling & other home improvements. Find the beautiful handmade arts and crafts.  Time/Place: Sat 10am-5pm, Sun 10am-4pm / Santa Clarita Central Park  Contact: www.santaclaritahomeandgardenshow.com Bombshell Bettys Car Show   Apr. 28  Everything we do helps us to support our local veterans. Beer Garden, Pin-Up Pageant, and tons of hot cars and hot bikes.  Time/Place: 12-5pm / Pacific Auto Recycling Center, Lancaster  Contact: 661-992-6597 / www.bombshellbettyscalendars.com Fiesta Broadway   Apr. 28  Entering its 30th year, Fiesta Broadway is L.A.s signature Cinco de Mayo event. Enjoy performances by well-known Latin American artists and authentic food from local-area vendors. Carnival-style games and rides fill out the fun!  Time/Place: Downtown Los Angeles, Broadway  Contact: 310-914-0015 / www.allaccess-la.com/fiesta-broadway

4 Reasons to Buy a Home in the Spring

Spring has sprung, and it’s a great time to buy a home! Here are four reasons to consider buying today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage came in at 4.41% last week. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, greater safety for your family, or you just want to have control over renovations, now could be the time to buy.

Bottom Line

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.