The Difference An Hour Makes

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Scouting for Food, November 4, 2017

Scouting for Food is our annual food-collection drive benefiting Second Harvest Food Bank. Scouting for Food takes place on two consecutive weekends. On the first weekend, Scouts distribute bags and/or door hangers to let their neighbors know about the drive. On the second, Scouts revisit those houses to pick up bags full of canned food, cereal, pasta, peanut butter, juice and other nonperishable items. The food is then delivered to Second Harvest Food Bank where it is distributed to needy families throughout Orange County.

It’s happening on Saturday, November 4th. Last year local Boy Scouts and Girl Scouts collected 52,085 pounds of food in Orange County– let’s see if we can beat that and go for 60,000 pounds in 2017!

 

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Moving With Kids

When purchasing or selling a home, home buyers and sellers with children under the age of 18 have unique needs.  Our intimate knowledge of the communities and schools allows the Stovall Team to guide clients as buyers and create strategic marketing for sellers. The Stovall Team’s passion for real estate teamed with savvy negotiating skills and utmost devotion to clients is second to none.   Call us today to discuss your real-estate needs  at 714.343.9294  [email protected]  and  Visit StovallTeam.com 

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Moving-Up To A Luxury Home? Now’s The Time!

The best time to sell anything is when demand is high and supply is low.

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control. The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home. The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

Sources: KCM, Stovall Team, Washington Post

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5 REASONS TO SELL YOUR HOME THIS FALL!

Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to move. If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings. Here are five reasons listing your home for sale this fall makes sense.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very 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 to buy a 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 that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon. Historically, the average number of years a homeowner stayed in their home was six, but that number has jumped to an average of almost nine years since 2008. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move. The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you 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. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days, after seeing a 12-month high of 48 days in January.
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 forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own! Prices are projected to appreciate by 5.0% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dol-lars (both in down payment and mortgage payment) if you wait.
5. The Stovall Team Will Help
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 the questions above. 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. CALL US TODAY 714.343.9294 and VISIT StovallTeam.com!!

Sources: Micah Stovall, CoreLogic

Image:  AV Builders

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Dream Home: Know What You Want Vs. What You Need

In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying another home for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses.
Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the ‘man cave’ of your dreams be a future renovation project instead of a make-or-break right now? The first step in your home buying process should be getting pre-approved for your mortgage. This allows you to know your budget before you fall in love with a home that is way outside of it. The next step is to list all the features of a home that you would like, and to qualify them as follows:
 ‘Must-Haves’ – if this property does not have these items, then it shouldn’t even be considered (ex: distance from work or family, number of bedrooms/bathrooms).
 ‘Should-Haves’ – if the property hits all of the ‘must-haves’ and some of the ‘should-haves,’ it stays in contention but does not need to have all of these features.
 ‘Absolute-Wish List’ – if we find a property in our budget that has all of the ‘must-haves,’ most of the ‘should-haves,’ and ANY of these, it’s the winner!
Having this list fleshed out before starting your search will save you time and frustration, while also letting us, your agent, know what features are most important to you before starting to show you houses in your desired area. At the Stovall Team we believe every family should feel confident when buying & selling a home. CALL US TODAY 714.343.9294 and visit StovallTeam.com!!
Sources: Micah Stovall, Stovall Team

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