Buying and selling a house is a big endeavor. Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Let’s evaluate your needs and see if your situation calls for buying or selling now or in the future. Call or text 714.343.9294 or email me at [email protected] and visit stovallteam.com. We are here to invest in your family’s future with you. At Stovall Team we are focused on helping you understand the process while helping you find your dream home Here are three major reasons to buy in our current market.
- Affordability Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components: Price, Wages, and Mortgage Interest Rate. Prices are up, but so are wages – and interest rates have recently dropped dramatically (see #2 below). As a result, the National Association of Realtors’ (NAR) latest Affordability Index report revealed that homes are MORE affordable throughout the country today than they were a year ago.
- Mortgage Interest Rates. Mortgage rates have dropped almost a full point after heading toward 5% last fall and early winter. Currently, they are below 4%. Additionally, Fannie Mae recently predicted the average rate for a 30-year fixed mortgage will be 3.7% in the second half of 2019. That compares to a 4.4% average rate in the first quarter and 4% in the second quarter. With mortgage rates remaining near historic lows, Fannie Mae and others have increased their forecasts for housing appreciation for the rest of the year. If home price gains are about to re-accelerate, buying now rather than later makes financial sense.
- Increase Family Wealth Homeownership has always been recognized as a sensational way to build long-term family wealth. A new report by ATTOM Data Solutions reveals: “U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since purchase of $67,500, up from an average gain of $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018. The average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of original purchase price.”
The longer you delay purchasing a home, the longer you are waiting to put the power of home equity to work for you. With affordability increasing, mortgage rates decreasing, and home values about to re-accelerate, it may be time to talk with Stovall Team to determine if buying now makes sense for your family.
Sources: Micah Stovall, Stovall Team, National Association of Realtors, ATTOM Data Solutions, Fannie Mae
Top Hikes In Orange County with Waterfalls
What comes to mind when you think of Orange County? Most probably picture sprawling beaches dotted with volleyball players, people tanning on the sand, and tons of fantastic restaurants and shopping. While our coastal paradise has all of those things, it may surprise you that there are plenty of hikes in Orange County with waterfalls. These incredible adventures are great ways to get out and explore the lesser-traveled areas of the famed county. So, lace up your hiking boots and grab your backpack, because it’s time to hit the trails!
Hikes In Orange County With Waterfalls
The best time to enjoy one of these hikes in Orange County with waterfalls is in the spring when Southern California sees most of its rain. Be sure to check the weather forecasts during your trip to plan hikes after rainy days for the best results.
Ortega Falls
Head for Ortega Falls if you want to escape the crowds near Newport Beach. This is a very easy hike to a waterfall on the edge of Orange County. It’s less than a half-mile from the parking area, making it a great trip for everyone in your group. The drive from Newport Beach is almost an hour, but the stunning waterfall and surrounding boulders are well worth it.
Black Star Canyon
Black Star Canyon offers one of the best hikes in Orange Country with waterfalls. This 7.5-mile roundtrip trek is a hidden gem in Southern California. You can access the Black Star Canyon Trailhead from Santiago Canyon Road, which is about a 40 to 45-minute drive from Newport Beach. From there, you will see plenty of beautiful scenery. The waterfall at the end is incredible, especially if it rains in the days prior to your hike!
Falls Canyon
If you really want to get off the grid during your trip, Falls Canyon is the spot for you. Trabuco Canyon Trail is less than a mile long, but it packs in plenty of incredible nature. The tall cascading falls at the end of the trail make this one of the top hikes in Orange County with waterfalls.
Tip: The road to the small parking area is full of potholes and has very few signs, so it can be tricky to find. Also, wildfires may cause infrequent closures.
Dana Point Seasonal Waterfall
The Dana Point Seasonal Waterfall may not offer the serene, natural setting that others on this list do, but it makes up for that in wow factor. Located across the street from the Dana Point Harbor, this little-known spot features a strong flow of water down a towering cliffside following a hard rain. Even if the waterfall isn’t flowing during your trip, the paths at the top of the cliff offer sensational views.
Chiquito Falls
You’ll find the trailhead to Chiquito Falls down the road from Ortega Falls. This nine-mile out-and-back trail is very popular and features a moderate difficulty level. The views and rock climbing around the falls are fantastic, especially if it recently rained.
Tenaja Falls
Tenaja Falls offers some of the best views from any waterfall in Orange County. The roundtrip hike is only one and a half miles and is great for all hiking abilities. It’s an excellent day trip options for those wanting to experience the natural side of Southern California.