Home Buyer Blunders

We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. I take great pride in the relationships I build and always work relentlessly on the client’s behalf to help them achieve their real estate goals.  At Stovall Team our team of experts represents the best and brightest in the industry, and we’re always striving to lead the field in research, innovation, and consumer education. Today’s buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice.

My clients come first. I am in constant communication with our clients, keeping them fully informed throughout the entire buying and selling process. I measure my success through through the satisfaction of my clients.   Call us today  714.343.9294 and visit stovallteam.com

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Ready to Downsize in 2018?

As home values continue to  appreciate, more and more homeowners have the freedom to move. I recently sold my client’s two-story five bedroom and four bathroom home and sold them a single-story two bedroom and two bathroom home that better fits their current lifestyle and needs. We sold their home after only 7 days on the market for over asking price. We executed their plan. Prior to listing their home for sale, I sat down and listened to my clients and learned about their needs and wants and then I advised.  They set a goal. We made a plan. We executed the plan.  Wondering if it might be time for you to downsize your home? Here are four signs it might be time:

  1. The maintenance is too much. Keeping your home well-maintained can be a lot of work! Between yard work and perpetual maintained, the upkeep can leave you exhausted. By downsizing your home when the time is right, you’ll leave more time for yourself and save money.
  2. You’ve retired or you’re retiring soon. When you downsize, you’re cutting basic expenses and creating more retirement income. In downsizing your home for retirement, you’ll move into a smaller property that will likely  reduce your property taxes, insurance and mortgage payments. Even if you plan to have your mortgage paid off by the time you retire, your current home could be a major source of retirement capital.
  3. You have a lot of unused space If you’ve already raised your children, you might be paying for space that you’re likely not using. Maybe you no longer need your two-story five bedrooms and three bathrooms! Even if you’ve paid off your mortgage, you could still be paying a lot in property taxes, homeowners insurance, utilities and maintenance, all of which are higher on a larger home.
  4. You’re filled with wanderlust. Maybe you’re mesmerized by those cruise ship commercials or you find yourself dreaming of faraway places. Downsizing your home and the expenses you’re spending on your home can free you up to travel.

 The Stovall Team places a premium on customer service, drawing on more than 60 years of combined experience and out-of-the box  thinking to ensure that their Team provides the best customer experience in the business. CALL US TODAY 714.343.9294   VISIT StovallTeam.com!!

Sources:  National Association of Realtors, Micah Stovall

 

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BUY AND SELL A HOUSE AT THE SAME TIME!?!

Making the move from one property to another is a necessary step in most homeowner’s lives – if upsizing isn’t inevitable, downsizing surely will be – but it’s not one people are born  prepared for.  Educated homeowners armed with our expertise and a Stovall Team strategy should be able to find their homes happy new owners while once again filling that role themselves.

In my experience, most people have three main goals when buying and selling a home at the same time:

  • To get the highest price possible for their current house
  • To buy a new house as cheaply as possible
  • To get through the process with as little pain as possible

Our  primary goal is to deliver the highest level of service  available to each and every one of our clients.  We strive to make each of our listings the best they can be.   Is now the time for you to make your move?    Buying a home while selling a home and trying to close at the same time is difficult in just about any market. It’s not just a matter of logistics and coordination, although that is part of the difficulty. It’s also difficult because to close concurrently, somebody is taking a risk, and often that somebody is the seller of your new home.

The price of any item is determined by the supply of that item, as well as market demand.  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.

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. 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. Experience matters and the Stovall Team is here to help you. Call me today at 714.343.9294  Visit stovallteam.com  

Sources:  Micah Stovall, Bloomberg Business Journal,  National Association of Realtors

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How Much Do You Need To Make To Buy a Home?

It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C.

States in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a median-priced home. States with large metropolitan areas saw a bump in the average salary needed to buy with California, Washington, D.C., and Hawaii edging out all others with the highest salaries required.

Below is a map with the full results of the study:

How Much Do You Need to Make to Buy a Home in Your State? | Keeping Current Matters

GoBankingRates gave this advice to anyone considering a home purchase,

“Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”

As we recently reported, research from Zillow shows that historically, Americans had spent 21% of their income on owning a median-priced home. The latest data from the fourth quarter of 2017 shows that the percentage of income needed today is only 15.7%!

If you are considering buying a home, whether it’s your first time or your fifth time, call the Stovall Team today at 714.343.9294! We can help evaluate your ability to do so in today’s market!

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Barbara Bush

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Surviving the Remodel

If buying a home is all about location, location, location, then remodeling one is all about planning, planning, planning. Whether you’re preparing for a move or looking to update your home, remodeling can be a huge undertaking, so it’s important the reward is worth it.  Maybe you’re thinking about upgrading the counter tops, opening up the living room or re-doing the master bath. Or maybe all of the above.  But who do you call? A general contractor? Remodeling company? Handyman service?  Actually, your first call – before you make any changes – should be to Micah Stovall at Stovall Team.  Sure, Stovall Team is your trusted advisor when it’s time to buy or sell a home. But we are also your best source for figuring out what home renovations will yield the best return.

It’s important to have a team of professionals guide you in your remodeling endeavors. The last thing you want to do is make unnecessary repairs or put money into a project that that doesn’t translate well with your buyers, based on your home’s price point and neighborhood.

Stovall Team knows what trends are moving in – and which ones have left the dock. What many consumers don’t realize is that certain upgrades that will bring you above-average returns on your investment. Other improvements may help you sell your home faster, but not necessarily for more money.

Beyond the basics, we need to hold your hand and provide expert advice. Let us help you as you plan your remodel.  As Realtors, we are living the market daily. We can help you maximize your investment, even if you are not planning to sell anytime soon.

Call the Stovall Team at 714.614.2475.

 

 

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