Many of our Agents speak Spanish & are here to help!

This month the National Association of Hispanic Real Estate Professionals (NAHREP) released their annual State of Hispanic Homeownership Report for 2013. A 35 page report designed to highlight “the homeownership growth and household formation rates of Hispanics as well as their educational achievements, entrepreneurial endeavors, labor force profile, and purchasing power in the United States”.
This report is full of great information and you should download it and read all 35 pages. In this blog post, I will mention a few facts that, in my opinion, are relevant to all of us:

Household information

Since 2010, Hispanics have accounted for a net increase of 559,000 owner households, representing 56 percent of the total net growth of owner households in the U.S.
The number of Hispanic households has grown from 9.2 million in 2000 to 14.7 million in 2013, an increase of 5.5 million, representing a growth rate of 60 percent.
Four out of 10 new households between 2010 and 2020 are expected to be Hispanic.
By the end of the decade, Hispanics alone will account for approximately five million net new households, out of an estimated 12 to 14 million net new households in the country.

Hispanic Millennials

The median age of the Hispanic population is 27 years old, which is ten years younger than the median age of the overall U.S. population.
Hispanics are heavily represented in the 26 to 46 year age range.
A Hispanic youth turns 18 every minute of every day.

Income
Hispanics with incomes between $50,000 and $100,000 represent 29 percent of all Hispanic households and comprise nearly 40 percent of Hispanic purchasing power.
Three out of every four prosperous Hispanics are under the age of 45 and own a home.
Twenty-two percent of all Hispanic households earn more than $75,000 annually.
The number of Hispanic-owned businesses in the U.S. nearly doubled from more than a decade ago, growing from 1.7 million in 2002 to an estimated 3.2 million in 2013.
Latina entrepreneurs are launching businesses at a rate SIX TIMES the national average.
Hispanic businesses contribute in excess of $465 billion to the nation’s economy annually and employ more than two million workers.
Latinos now own one out of every 20 businesses in the U.S., while Latinas own 10 percent of all women-owned businesses.

The Hispanic community is becoming a major player in the housing market. It is a priority for our Hispanic Agents to help this community through the real estate process with complete understanding so that Hispanic families to can feel confident in their real estate decisions.

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909-373-0880
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OWE MORE THAN YOUR HOME IS WORTH?

If you’re a homeowner who is unable to refinance to a lower interest rate because your Fontana home’s value has decreased, there’s hope.

A program called the Home Affordable Refinance Program (HARP) has been extended for another year.  This program, intended to help borrowers whose homes have fallen in value, was due to expire as of June, 2010.  Fortunately, HARP has been extended and will now stay in effect through June 30, 2011.

How does HARP help?

The program allows qualified borrowers who owe more than their homes are worth to refinance at lower interest rates.  It’s projected to help 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac.

If you’re a Fontana home owner whose mortgage interest rate is significantly higher than the current market rate, you could see an immediate reduction in your payments.  However, some homeowners may not see their interest payments go down if they refinance to a fixed rate and payment.  Those include homeowners who are:

• paying interest only
• have a low introductory rate that will increase in the future
• face a balloon payment

If you are one of these homeowners, you should still consider refinancing because it could save you a great deal of money by reducing the amount of interest you pay over the life of your mortgage.

Who qualifies for HARP?

You may qualify if:

• You own and live in your home.
• The loan on your home is owned or guaranteed by Fannie Mae or Freddie Mac.
• When you apply, you are current on your mortgage payments.
• The amount you owe on your mortgage does not exceed 125% of the current market value of your property.
• You’re able to pay the new mortgage payments.
• The refinance improves your ability to pay your mortgage long term.

If you have questions about HARP or if you are thinking of Buying a Home or Selling a Home? We can help you. Give us a call today at (909) 373-0880 or e-Mail us at RemaxTime@gmail.com Our Real Estate Agents are experts on the Rancho Cucamonga Real Estate market. We can help you find different kinds of properties available in your price range: 

• Rancho Cucamonga Foreclosures and Foreclosed homes
• Rancho Cucamonga Bank Owned Properties
• Rancho Cucamonga HUD Homes
• Rancho Cucamonga Government Tax Foreclosure
• Rancho Cucamonga Real Estate Owned Properties
• Rancho Cucamonga Rentals
• Rancho Cucamonga New Homes
• Rancho Cucamonga Short-Sale Properties
• Just Listed Homes in Rancho Cucamonga
• Rancho Cucamonga Homes with Price Reductions
• Find Your Home Value or House Value in Rancho Cucamonga

Selling a Home Steps are easier with Remax Time Realty

Steps to Selling A Home

Hire a REALTOR®

Studies show that homesellers who use a REALTOR® to represent them generally get a better price than those who sell the home themselves. REALTORS® are up-to-date on critical processes and can help keep you out of trouble. They can also help you get your home sold at the best price in the right timeframe.

Equally as important, REALTORS® add objectivity to an inherently emotional transaction: the sale of your home.

Call Toll Free 888-875-8968

Let us help you find the best Sales Associate in our Office for your Real Estate needs, visit our website at www.remaxtimerealty.com.

Before Your Home Is Listed

It's important to have your home in good showing condition before buyers start going through it. Here are some steps to take:

• Touch up interior and exterior paint as needed.
• Install new carpeting and flooring if it appears worn or dated.
• Make sure the front is clean and spruced up – curb appeal will create a favorable first impression.
• Trim bushes and plants as needed, and make sure the lawn is kept mowed and trimmed. In autumn, rake the leaves; in winter, keep the snow shoveled.
• Keep the interior clean, decluttered and odor-free. Eliminate evidence of pets.
• Minimize personal items such as family photos. You want buyers to see themselves living in the home.
• Consider putting excess furniture and belongings in storage. Now's the time to clean out the garage and basement and sell, give away or throw away items you don't need anymore.
• Consider having a pre-listing inspection performed. Buyers will be hiring professional inspectors; here's your chance to address problems in advance.
• Consider engaging a professional stager to give your home the right emotional appeal.

During the Listing Period

• When potential buyers visit your home, either be absent or make yourselves as inconspicuous as possible.
• Have fresh flowers in the entryway. It makes for a friendly introduction into your home.
• If offers are made that don't match your hoped-for price, don't reject them out of hand. Pay attention to your agent's advice.
• Consider dropping the price if several months go by with few or no offers. But if you and your agent have priced your home properly from the start, this shouldn't be necessary.
• Don't get discouraged. In buyer's markets, homes take longer to sell than during boom times. Your home will eventually sell; it's a matter of your RE/MAX agent finding the right buyer for you.

Help Your Agent

You have the best chance of selling your home if you work closely with your RE/MAX agent. Make sure all showings are coordinated through him or her. If you have a brochure box, be sure to keep it filled.

If prospective buyers want to discuss your property or negotiate price or other terms, defer to your RE/MAX agent. He or she is the expert and can best handle all these details without emotion.

Buying a Home | RE/MAX, LLC.

Buying a Home | RE/MAX, LLC.

Contact a REALTOR®

A RE/MAX Sales Associate can help you through the entire process of buying a home, starting with the mortgage and continuing right through closing – and beyond. He or she can help you shop for the best interest rate and terms and, if you wish, suggest mortgage lenders.

Get Preapproved for a Loan

Obtain a copy of your credit report and your FICO score and, if necessary, do what you need to do to improve it. The higher your FICO score, the better interest rate you can command. You can get this information online; your RE/MAX agent can also help you. Contact several lenders and determine which one will give you the best deal.

Determine Your Price Range and Area(s) in Which You're Interested

By now you should have a good idea of how much home you can afford. This helps you narrow down your home search. You should also begin researching the neighborhoods in which you might want to live. Your RE/MAX agent can help.

Decide Which Amenities and Features You Must Have – and Which Ones Would Be Nice but not Necessary

How many bedrooms and bathrooms do you want? Would you prefer a newer home or an older one with established landscaping? Are hardwood floors a must? Is an updated kitchen important to you? Walk-in closets? Which features would you be willing to give up if you find the otherwise-perfect home?

Begin Testing the Market

Right here on remax.com, you can find listings that meet your criteria as well as neighborhood data. Identify properties that seem to be fits for you, take an afternoon and go on a driving tour. See what's available in your price range and explore neighborhoods.

With Your Agent, Begin Seriously Looking at Homes

Your agent can add to the list of homes you've already identified – including ones that have just come on the market. Look at homes with a critical eye – does the floor plan work for you, is the property in good condition, would it be right for your lifestyle? In short, can you imagine yourself and your family living there?

Take notes at each home you visit. What do you like and not like? Narrow down your choices; re-visit homes in which you're interested. See them at different times of the day.

Make an Offer

When you've identified the home you want to buy, be prepared to help your agent prepare a written offer quickly. Your agent will be familiar with market values and will help you arrive at a price that gives your offer the best chance of being accepted.

At this stage, try not to become emotionally attached to a home. Your offer may not be accepted for any number of reasons. Have backup homes in mind. Be prepared to negotiate through your agent with the sellers.

Once Your Offer Is Accepted:

• You'll be asked to submit an earnest money deposit that usually isn't refundable.
• Begin making moving arrangements (select a mover, obtain change-of-address cards, inform friends and relatives).
• Have the property professionally inspected.
• If necessary, request repairs.
• Obtain homeowner's insurance.
• Contact utilities (phone, water, power, etc.).
• A few days before closing, stage a walk-through.
• Obtain a cashier's check for the down payment and closing costs.

At Closing:

• Make sure the terms and conditions of the loan statement are correct.
• Carefully read everything before you sign.

ENJOY YOUR NEW HOME!

Why You Should Use a REALTOR® in Your Home Search

Buying a home is probably the largest investment you'll make in your lifetime. Having an experienced, knowledgeable RE/MAX professional representing you in this transaction just makes good sense.

Buying a home is not like buying a car, a mutual fund or other commodity. It can be a life-changing event. RE/MAX agents fully understand the real estate process – and just as important, they understand your local market.

Of course they know the right steps to take, but they can also help you avoid a misstep in your home purchase. If a new freeway is going to be built a few blocks away, they'll probably know it. If you're unsure about school districts, they'll be able to direct you to answers. If you're unsure of a builder's reputation, they'll know how you can confirm it.

Your RE/MAX Sales Associate also performs another important function: minimizing the emotion involved in a home transaction. You may be in love with a home, but your agent can point out factors that might not make it right for you.


Call our Office today at 909-373-0880
Mention Elvis and his blog!

Short Sale: The Basics

Millions of homeowners are "under water" on their home loan and facing foreclosure. However, there are foreclosure alternatives. Learn more about the fastest growing alternative - Short Sales - and why this option is more attractive to both the homeowner AND the lender. Your qualified RE/MAX Time Realty Agent can guide you through the process. Don't put off calling any longer. We can help you explore your options 888-875-8968.

Tips for Successfully Marketing Your Home

Today more than ever homeowners need to focus on creating a comprehensive plan for marketing their property. Use this video to learn why RE/MAX Time Realty agents are uniquely qualified to help you successfully market your home in today's real estate market.
For more information or to set up and interview with one our Amazing Agents Please Call 951-708-1098

How to Sell Your House Fast When Foreclosure Looms

When foreclosure looms, many homeowners try to sell their homes. For them, the goal is not just to get the home sold, but to do it quickly. Foreclosure rates are the highest in buyer's markets, when homes take a longer than average time to sell. What's a homeowner to do? Get aggressive, and get your home sold fast!

As a seller, you control the only three factors that influence whether your home sells quickly: pricing, marketing and condition. Here are some easy steps and insider secrets to make your home fly off the market in record time!

1. Don't try to salvage equity that does not exist. The fact that you bought your home for thousands more than homes are currently selling for in your neighborhood is irrelevant to the current fair market value of your home.

2. Don't overprice your home. Get clear about what you want. If you'd like to get your home sold, make sure you price it aggressively and that means low. If your home is overpriced, some buyers won't even see it because it will appear to be out of their price range. Other buyers will focus on seeing properties whose sellers seem more realistic about pricing. Your house will sit on the market longer than it should and then the lowballers will crawl out of the woodwork.

3.Get real about what your home is worth. Have your real estate agent prepare a Comparative Market Analysis (CMA) that shows recently sold, similar homes in your neighborhood. If you're serious about getting it sold fast, take the sales prices (not the list prices) from the most recently sold homes in your area.

4.Make sure you have an accurate understanding of how low you can go. A buyer is not going to pay a premium price for your home just because that's what you owe. If you owe more than your home is worth, give your lender a ring, complete a short sale application (see How to Get Your Lender to Agree to a Short Sale) and ask your lender to give you some indication of how low a sale price they will accept. Conform your list price to that (don't forget to take closing costs into account); a short sale blemishes your credit but not as badly as a foreclosure does!

We at RE/MAX Time are here to help you. For more Info Call 888-875-8968