Category Archives: Real Estate

Ways to Pay Off Mortgage Early

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Ways To Pay-Off Your Mortgage Early

– from realtytimes.com 5-16-17
Make an extra payment each year
Making 13 payments instead of 12 can save you thousands and shorten your loan. On a 30 year, $200,000 mortgage at 4.5%, you would save $27,000 in interest and pay your loan off 4 years and 3 months early.

Make an extra payment each quarter
Make an extra payment each quarter and you will save $65,000 in interest and pay your loan off 11 years early on the same $200,000 loan at 4.5% interest.

Get rid of PMI  (private mortgage insurance)
If your home was purchased with less than 20% down payment then you are probably paying PMI. Check to see if your mortgage balance has changed enough to eliminate this charge and lower your payment.
Apply any windfalls
Get a raise or a bonus? Maybe a surprise cash gift? Instead of taking that vacation or putting it into your savings, apply it to your mortgage balance. A $10,000 lump sum payment on that 30 year, $200,000 mortgage at 4.5% pays it off 2 years and 4 months early and saves more than $19,000 in interest.

All information deemed reliable but not guaranteed. For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant.

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Real Estate Funnies

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Sell your home with Full Time Professionals.  We’re just a phone call away…April 951-522-0518 or Gary 951-522-6308

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Southern California October 2013 Real Estate

“SOUTHLAND”

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includes Riverside, San Bernardino, San Diego, LA and Orange Counties:

Cash Buyers accounted for 27.5% of October 2013 Southland home sales, compared with 32.8% the year before. They paid a median price of $337,000, up 34.8% from a year earlier. Since 1988 the monthly average for cash buyers is 16.3%.

Absentee buyers (investors) bought 26.5% of Southland homes sold in October 2013. Absentee buyers paid a median price of $316,000, up 30.8% from a year earlier. The monthly average for absentee buyers since 2000 is 18.4%.

All lenders combined provided $5.7 billion in mortgage money to Southern California home buyers in October 2013. Home buyers in October put $4.3 billion of their own money on the table in the form of a down payment or as an outright cash purchase.

Foreclosure re-sales (properties foreclosed on in the prior 12 months) made up 6.3% of the Southland re-sale market in October 2013, the lowest level since it was 5.5% in May of 2007. That was down from 16.3% in October 2012. Foreclosure re-sales peaked at 56.7% in February 2009.

Short sales made up an estimated 12.9% of Southland re-sales in October 2013. That was down from 27.2% in October 2012.

The typical monthly payment that a Southland buyer committed themselves to paying in October 2013 was $1,499.00, up from $1,115.00 a year earlier. Adjusted for inflation, last month’s typical monthly payments are 48.8% below the current cycle peak of July 2007.

*Median Price=half more/half less. * All information deemed reliable but not guaranteed. For questions or financial, tax or estate planning, we suggest you contact an attorney or certified public accountant. Data taken from dqnews.com 11-12-13

Curious what this all means for your your home in Southwest Riverside County…what we refer to as the Temecula Valley? Reach out to us however you feel comfortable and we can give you an idea of what your home is worth by providing you with details on the sales around you that have occurred most recently.

Gary and April Greer at 951-522-0518 or email us at april@teamgreer.com
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Southern California Sale Update

SOUTHLAND MEDIAN SALES PRICES CONTINUE TO BE UP SHARPLY…MONTH TO MONTH-YEAR OVER YEAR.

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(exert from dqnews.com 9/12/13)
*MEDIAN PRICE AUG 2012 VS AUG 2013
Riverside County                                  + 26.20% ($265,000)

San Bernardino County                        +25.10% ($210,250)

San Diego County                                  +20.20% ($415,000)

Los Angeles County                               +28.10% ($429,000)

Orange County                                       +19.90% ($560,000)

Cash Buyers accounted for 27.6% of August 2013 Southland home sales, compared with 32.3% the year before. They paid a median price of $325,000, up 31% from a year earlier. Since 1988 the monthly average for cash buyers is 16.2%.

Absentee buyers (investors) bought 26.3% of Southland homes sold in August 2013. Absentee buyers paid a median price of $310,000, up 31.4% from a year earlier. The monthly average for absentee buyers since 2000 is 18.3%.

All lenders combined provided $6.36 billion in mortgage money to Southern California home buyers in August 2013, up from $5.45 billion in August 2012.

Foreclosure re-sales (properties foreclosed on in the prior 12 months) made up 7.1% of the Southland resale market in August 2013, the lowest level since it was 5.5% in June of 2007. That was down from 19.2% in August 2012. Foreclosure re-sales peaked at 56.7% in February 2009.

Short sales made up an estimated 13.6% of Southland re-sales in August 2013. That was down from 26.6% in August 2012.

The typical monthly payment that a Southland buyer committed themselves to paying in August 2013 was $1,545.00, up from $1,124.00 a year earlier. Adjusted for inflation, last month’s typical monthly payments are 47.1% below the current cycle peak of July 2007.

*Median Price=half more/half less. * All information deemed reliable but not guaranteed. For questions or financial, tax or estate planning, we suggest you contact an attorney or certified public accountant.

Team_Greer-comAre you considering investing in real estate in our market area?  Let us know how we can help!

Gary and April Greer team4greer@gmail.com or (951) 522-0518

Real Estate Update for Temecula California August 2013

Check out this video summarizing where the real estate market is at right now in Temecula.  film reel

http://www.century21.com/real-estate-information/92592/LZ92592

GlenOak Hills, Temecula, California

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The GlenOak Hills Community is a favorite of mine.  We have lived in this community on 2 different occasions, spanning about 6 years.  Located in Temecula’s Wine country, it’s a rural community with 2.5 Acre minimum lots, varied terrain and lots and lots of opportunities for views overlooking  Temecula. 2008 013

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Housing is varied and offers something for everyone.  There are modest homes starting at 1800 SqFt  up to 10,000+ SqFt estates with all the bells and whistles.  All the homes are custom design and stick built.  All the roads are paved. There is propane, city water and septic.

There are no wells in this community.glenoak street

glenoak southSome homeowners have horses, vineyards or small citrus groves. 

The community has an active homeowner’s association and is managed by the Avalon Management Group.  The association dues are currently $ 127/per quarter and include 2 tennis courts, playground, clubhouse and riding arena.

clubhouseGlenoak Park025030031024There are 2 entrances to GlenOak Hills.  The North  and South Gate entrances are off of DePortola Road in South East Temecula between Anza and Glenoaks Road.

Visit the Community Website at

www.myglenoak.com 

for Architectural Guidelines and CC & R’s.

BUILDYOUR DREAM HOME?

There are still lots available for building your dream home (current building requirements in the community include a minimum of 2500SqFt and 2 Car Garage).  You can contact us for a list at team4greer@gmail.com.

For more information about homes available in the GlenOak Hills Community please give us a call at 951-522-6308 Gary or 951-522-1508 April

32498 Vail Creek Drive, Temecula, CA 92592

041Located in the gated community of Vail Creek in South Temecula, this 3 Bedroom, nearly 2000 sq.ft. home is  perfectly suited for many lifestyles!  Low Taxes and low HOA fees, community parks and play areas.  Call for a private showing today!   JUST LISTED $ 325,000  (951) 522-0518  April Greer

046068059067

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Temecula Valley, Is It Time To Sell?

IS IT TIME TO SELL?

The real estate market in the Temecula Valley is showing more than just signs of recovery. More and more equity sellers are putting their homes on the market and selling their homes in a short period of time and at a higher price than we have seen in years. Foreclosure sales are still relevent but not in the record numbers that the media has given hype over. Short sale listings are scarce. Mortgage rates are ridiculously low. Buyers are everywhere and Realtors (including ourselves) are pounding the pavement looking for something to sell them!

Is it time for you to sell?

We can provide a professional opinion on potential value for your home to help you make that decision. We can be reached at 951-522-0518 April or 951-522-6308 Gary. Our email address is team4greer@gmail.com

The graph below is a snapshot of California in general. Keep in mind that some parts of California (Temecula included) tend to outpace others.

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Chardonnay Hills Community, Temecula, California

Chardonnay Hills will kick off our “Featured Community” this month.  It’s located in the middle of Temecula, at the end of the city limits prior to heading into the wine country area.  It’s recognized most by the rock fountain entrance on Rancho California Road with the giant wrought iron gates that are set in a permanent open position.

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The community features homes from 1600 Square Feet up to nearly 4000 so it offers a wide range of variety in size and floorplan.  There are currently homes for sale starting in the low to mid $200,000’s. Due to the maturity of the community, homeownership turnover is low.  Many of the lots are spacious and offer views.

The community association consists of $110.00 per month currently and features 2 community pool areas, tennis courts, BBQ and Picnic areas, playground structures, sand volleyball, basketball and meandering walkways and trails within the neighborhood.

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This community boasted “NO MELLO-ROOS” signs when it was being built and the property taxes here are very low because of that.  The homes were so popular in the new construction phase that we once waited in line at 6:00am in the morning to put down a deposit at a phase release for our clients that were moving from out of state.

For More Information About Temecula and the Surrounding Communities, please call me at 951-522-0518 or email to team4greer@gmail.com  We’re happy to answer any of your questions.  We’ve lived here since 1991!

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5 Things to Avoid When Showing Your Home

We should probably start with what TO DO when showing your home but seriously knowing what NOT TO DO may be just as important.  Keep in mind that these are general tips that have been proven over and over by experience.  They don’t apply to every situation…but why take that chance?

Our Top 5 Things NOT to do

  1. Overdue it with candles, plug-ins and scented sprays  Some people are very sensitive and certain scents may cause allergic reactions or just simply discomfort.  Research shows a light vanilla scent is most universally safe.
  2. Hose down entryways and patios off the house right before showings or open houses  It may cause slipping or mess and it will discourage most buyers from wanting to step onto the back patio if it is wet.
  3. Close or lock any interior doors  Interior doors should be left open to let light travel into the dark interior spaces of the house and buyers are very uncomfortable about opening doors.
  4. Be home during showings or open houses  Take a walk or drive around if you have to.  We can’t express to you enough how uncomfortable buyers are if you are there.  They will spend no time in the home, nor will they be able to discuss any objections or ideas.  This is crucial conversation that needs to be had while in the home.  There is additional concern on the Buyer drawing you into potential conversations that you do not want to have.
  5. Leave out mail, bills or small valuables, jewelry and trinkets  Unfortunately we have to worry about this.  Mail, bills and anything that may have identifying or sensitive information needs to be out of sight for identity theft issues.  Also we prefer that any palm size valuables be put away during the home selling process.

If you are planning to sell a home in Temecula, Murrieta, Menifee, Wildomar or Winchester…we make a great partner!  Call us for more information                     at 951-522-0518 or teamgreer@C21wright.com