Blog - Stovall Team, Fountain Valley, CA, Real Estate

Preparing to Spring Forward

By Micah Stovall | Published: March 9, 2019

Millionaire To Millennials: Don’t Get Stuck Renting A Home… Buy One!

By Micah Stovall | Published: March 2, 2019

In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”

Bach went on to explain:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.”

Then he explains the secret to buying that home!

“Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”

What will it cost to pay your mortgage in fifteen years? He explains further:

“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

Posted in Buyers, First-time Home Buyers | Comments closed

The KonMari Method: Helping You Prep Your House For Sale

By Micah Stovall | Published: February 28, 2019

One of the biggest challenges sellers face when listing their house is decluttering. Cleaning out some of the more personal decorating choices allows buyers to imagine themselves living in the house.

Those planning to sell soon are in luck! Marie Kondo, the inventor of the KonMari Method of Tidying Up, has gained popularity with her new Netflix series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes.

“The KonMari Method™ encourages tidying by category – not by location – beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak to the heart, and discard items that no longer spark joy. Thank them for their service – then let them go.”

When you subjectively look at all of your belongings, you can sort through the ones that mean the most to you. Not only will you increase space for more joy-bringing items in your new home, but you will also have a much easier time packing remaining belongings!

“Remember, tidying up isn’t about getting rid of stuff. It is about creating an environment that sparks joy and improves your quality of life.”

When selling your house, first impressions matter! Before you or your agent schedule a photographer to take photos for your listing, make sure to tour your home with fresh eyes. Look for any imperfections that a buyer might notice.

When you sort through your more sentimental items, consider packing them away to ensure that you know where they all are. That way, they are safe during open houses and showing appointments. This will also cut down on the amount of packing you need to do right before you move!

Bottom Line

Whether you are selling your house to move up to a larger one, downsizing, or moving in with family, only bring the items that truly spark joy for you. This will not only help cut down on the items you move, but also ensures that you’re off to a great start in your new home!

Posted in Sellers | Comments closed

What Are The Benefits Of Becoming A Homeowner?

By Micah Stovall | Published: February 27, 2019

Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions…and the list goes on. For 64.4 percent of households in the United States, this list includes the day they became a homeowner for the first time!

Why is this date important? Homeownership is not just a roof over your head! It represents shelter, stability, wealth, and pride! For decades, homeownership has been an important part of the American Dream!

However, many question if the next generations see the same benefits of homeownership as their predecessors.

In case we have forgotten, some of those benefits are:

Non-Financial Benefits

Educational Achievement: Homeownership has a positive impact on academic achievement, including reading and math performance in children 3-12 years old.
Civic Participation: “Owning a home means owning a part of the neighborhood.” Homeowners have a stronger connection to their neighborhood and are more committed to volunteer.
Health Benefits: Adjusting for a range of demographic, socioeconomic and housing-related characteristics, homeowners have a substantial health advantage over renters.
Public Assistance: The report shows 47% of homeowners use their home equity credit lines to help pay other debts, diminishing their need for public assistance.
Property Maintenance and Improvement: A well-maintained home not only generates benefits through consumption and safety, but a high-quality structure also raises mental health.
Pride of Ownership: This place is uniquely “yours.” You can customize it according to your likes and personality.

In addition to financial benefits, homeownership also brings significant social benefits. These not only pertain to the family, but extend to the communities, the state, and the country!

Financial Benefits

Buying a home is an investment in your future!

Appreciation: On average, home prices are appreciating annually at a rate of 3.6%. This helps to create a safety net.
Forced Savings: Your mortgage is like a forced savings plan! With each payment, you are reducing the principal of your loan.
Home Equity: Homeownership builds equity every single month. You can later use that equity to start a business, send your children to college, etc.
Net Worth: A homeowners’ net worth is 44x greater than renters! This gives you the financial freedom to invest.
Stability: Rent prices increase 4% annually! A fixed mortgage payment allows you to save for future projects and guard against inflation.
Tax Benefits: The government has created tax benefits to encourage customers to purchase. (Talk to your CPA to see which benefits apply to you).

Bottom Line

Homeownership is and will always be part of the American Dream! There are many financial and non-financial benefits to take advantage of when owning a home. If owning a home is part of your dream, contact us today at 714.343.9294. The Stovall Team can help!

Posted in Buyers, First-time Home Buyers | Tagged fountain valley real estate, Homeownership, Huntington Beach Real Estate, Micah Stovall, Orange County Real Estate | Comments closed

Thinking Of Selling Your House? This Is A Perfect Time!

By Micah Stovall | Published: February 14, 2019

It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their homes on the market until then. The question is whether or not that is a good strategy this year. The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018.

Last year, the number of homes available for sale in January was 1,520,000. That number spiked to 1,870,000 by May!

What does this mean to you? With the national job situation improving and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now.

If you are looking to sell this year, waiting to list your home means you will have the greatest competition amongst buyers. Beat the rush of housing inventory that will enter the market and list your home today! I understand this shifting real estate market and can expertly guide you on the journey to reach your housing goals. If you have been debating whether or not to sell your home and are curious about market conditions in your area, give me a call at 714.343.9294 or send me an email at [email protected] I can help you decide if now is the best time to list your house for sale!

Posted in Sellers, Tips for Sellers | Tagged architectural real estate, best real estate agent, best realtor, Coastal Orange County, estate agent & estate agent, find a realtor, finding a realtor, fountain valley homes for sale, fountain valley real estate, Fountain Valley School District, house to home, huntington beach homes for sale, Huntington Beach Real Estate, Long Beach Real Estate, love where you live, Micah Stovall, Orange County, orange county realtors, Real Estate, real estate agent, real estate agent listings, real estate agents, real estate broker, realtor, Stovall Team, top real estate agents | Comments closed

Selling Your Home? Make Sure To Work With Stovall Team!

By Micah Stovall | Published: January 18, 2019

If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.

In today’s shifting real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year.

They will have to employ the same strategy: be the closest without going over!

As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!

Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong throughout the country!

Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!

If you are thinking about listing your home for sale this year, make sure you have a real estate professional on your side to help you properly price your home from the start!

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