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

The #1 Reason To List Your House For Sale NOW!

By Tarah Stovall | Published: August 1, 2018

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:

“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.

That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Meet with Stovall Team and we can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing, and able to buy right now!

In today’s competitive atmosphere, you need a professional on your side who not only knows the exact conditions in your market but can also help you take the steps you need to in order to secure your new home! Now, more than ever, who you work with matters! 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. We are always willing to go the extra mile for our clients. Call the Stovall Team today reached at 714.343.9294 Visit stovallteam.com

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4 REAL Reasons Why We Buy A Home!

By Micah Stovall | Published: July 25, 2018

We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers you the stability to start and raise a family

Between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may have these things in mind as major reasons for choosing the locations of the homes that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit in your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t do just that in your own home?

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home. Demand is strong in the starter and trade-up home market which means that most homes listed for sale are selling quickly. Our intimate knowledge of the communities and schools enables Stovall Team to guide clients as sellers and create strategic marketing campaigns to sell your home quickly and for top dollar. The Stovall Team’s passion for real estate teamed with savvy negotiating skills and utmost devotion to clients is second to none. If you are planning on selling your home, call and set a time to meet with the Stovall Team today to evaluate the opportunities in your market. Call the Stovall Team today at 714.343.9294! 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.

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House-Buying Power At Near-Historic Levels

By Micah Stovall | Published: July 18, 2018

We keep hearing that home affordability is approaching crisis levels. In today’s competitive atmosphere, you need a professional on your side who not only knows the exact conditions in your market but can also help you take the steps you need to in order to secure your new home! Now, more than ever, who you work with matters! 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. We are always willing to go the extra mile for our clients. Call the Stovall Team today reached at 714.343.9294 Visit stovallteam.com

While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.”

Their index is based on three components:

Median Household Income
Mortgage Interest Rates
Home Prices

The report explains:

“Changing incomes and interest rates either increase or decrease consumer house-buying power or affordability. When incomes rise and/or mortgage rates fall, consumer house-buying power increases.”

Combining these three crucial pieces of the home purchasing process, First American created an index delineating the actual home-buying power that consumers have had dating back to 1991.

Here is a graph comparing First American’s consumer house-buying power (blue area) to the actual median home price that year from the National Association of Realtors (yellow line).

Consumer house-buyer power has been greater than the actual price of a home since 1991. And, the spread is larger over the last decade.

Bottom Line

Even though home prices are increasing rapidly and are now close to the values last seen a decade ago, the actual affordability of a home is much better now. As Chief Economist Mark Fleming explains in the report: “Though unadjusted house prices have risen to record highs, consumer house-buying power stands at near-historic levels, as well, signaling that real house prices are not even close to their historical peak.”

How Long Do Most Families Live in a House?

By Micah Stovall | Published: July 16, 2018

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving.

As the graph below shows, over the last twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2014, that average is almost ten years – an increase of almost 50%.

Why the dramatic increase?

The reasons for this change are plentiful. The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move. With home prices rising dramatically over the last several years, 95.3% of homes with a mortgage are now in a positive equity situation, according to CoreLogic. With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light by NAR in their 2018 Home Buyer and Seller Generational Trends Report. According to the report,

“Sellers 37 years and younger stayed in their home for six years…”

These homeowners, who are either looking for more space to accommodate their growing families or for better school districts to do the same, are likely to move more often (compared to typical sellers who stayed in their homes for 10 years). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; they could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family. These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge in the current housing market, this could be great news. In today’s competitive atmosphere, you need a professional on your side who not only knows the exact conditions in your market but can also help you take the steps you need to in order to secure your new home! Now, more than ever, who you work with matters! 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. We are always willing to go the extra mile for our clients. Call the Stovall Team today reached at 714.343.9294 Visit stovallteam.com

Posted in Buyers, 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, 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

VA Loans: Making A Home For The Brave Possible

By Micah Stovall | Published: July 15, 2018

Since the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of homeownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them.

If you are a veteran or you know someone who is, here is a breakdown of the VA Home Loan benefits that can be used to achieve the American Dream!

Top 5 Benefits of a VA Home Loan

The greatest benefit of a VA Loan is that borrowers can buy a home with a 0% down payment. In 2016, 82% of all VA Loans put down 0%!
Private Mortgage Insurance (PMI) is not required! (Most other loans with down payments under 20% require PMI, which adds additional costs to your monthly housing expense!)
Credit Score requirements are also lower for VA Home Loans. The average FICO^® score of a borrower for an approved VA Loan is 620, compared to 676 (FHA) or 753 (Conventional).
There is also a limitation on a veteran buyer’s closing costs. Sellers can pay all of a buyer’s loan-related closing costs and up to 4% in concessions in some cases.
Even with interest rates rising, VA Loans continue to have the lowest average interest rates of all loan types.

Who Qualifies for a VA Home Loan?

One of the most important first steps when applying for a VA Home Loan is obtaining your Certificate of Eligibility (COE). “The COE verifies to the lender that you are eligible for a VA-backed loan.”

You Can Apply for a VA Loan if You:

Serve 90 consecutive days during wartime
Serve 181 consecutive days during peacetime
Have more than 6 years in the National Guard or Reserves
Are the spouse of a service member who has died in the line of duty or as the result of a service-related disability

You Can Use a VA Loan To:

Purchase a Home
Purchase a Condo
Build a Home
Refinance an existing home loan
Make improvements to a home by installing energy-related features or making energy-efficient improvements

Bottom Line

For more information or to find out if you or a loved one would qualify to use the VA Home Loan Benefit, contact Stovall Team today at 714.343.9294. We can help! Thank you for your service!

Do You Love Where You Live? We Sure Do! OC FAIR July 13- August 12, 2018 Information & Discounts

By Micah Stovall | Published: July 10, 2018

http://ocfair.com/wp-content/uploads/2018/01/GX6792_ReadRide2018_web.pdf

Discounts

Save money at the OC Fair! Discounts are honored during the specified timeframe. Please arrive early to enjoy all promotions.

Freebie alert! All reserved seats in the Pacific Amphitheatre, The Hangar and Action Sports Arena include FREE Fair admission.

OPENING DAY

Free ‘Til Three on Friday, July 13 (12-3 p.m.)

Enjoy free admission and parking on Opening Day of the 2018 OC Fair – Friday, July 13, only. Valid noon-3 p.m.

DAILY

San Diego / Ventura & OC Fair Bounceback

Save your San Diego County Fair or Ventura County Fair ticket stub for one free admission at the OC Fair, July 13-Aug. 12. Ticket must be surrendered at the gate to redeem offer.

Active Military & Veterans

Active-duty military and veterans receive free OC Fair admission and are eligible to purchase half-price general admission tickets. Promotion is valid all 23 days of the OC Fair. Military ID is required. Free admission is not applicable for spouses or dependents. A maximum of six half-price general admission tickets may be purchased. This offer may not be combined with any other offers.

Read & Ride

Bookworms ages 5-11 can read two books to earn three free carnival rides!
Download the book report form. Completed book report forms can be redeemed for ride tickets at the Centennial Farm Information Booth during Fair hours. Tickets are valid July 13-Aug. 12, 2018, only. Official OC Fair Read & Ride Form must be used in order to participate in program.

Super Pass

The 2018 OC Fair Super Pass can be purchased at the OC Fair & Event Center Box Office, The Hangar Box Office during the Fair or any OC Fair admission gate through Friday, August 10, 2018. Super Pass available online through July 6 only.

	March 1 – May 31	June 1 – Aug. 9
General (13-59)	$35	$40
Senior (60+)	$28	$33
Youth (6-12)	$28	$33

Purchase Now

LIMITED TIME

First Responders and Law Enforcement Week is Aug. 8-12

Free admission to active-duty and professional staff of the police, sheriff, fire and emergency services departments Aug. 8-12. Issuing agency ID is required.

WEDNESDAYS

We Care Wednesday (12-3 p.m.)

Donate for FREE admission to the OC Fair and one carnival ride per person. Valid noon to 3 p.m.

When	Drive	What to bring	Nonprofit partner
July 18	School Supply Drive	New school supplies valued at $5 or more, such as pens, pencils, crayons, notebooks (items must be sealed; no coloring books or workbooks)	Share Our Selves
July 25	Canned Food Drive	5 canned food items	Second Harvest and OC Food Bank
Aug. 1	Children’s Book Drive	3 new or gently used children’s books	THINK Together
Aug. 8	Clothing Drive	5 gently used clothing items	Goodwill OC

Donations are accepted at public entrances (Blue Gate, Yellow Gate or Green Gate). Donations are not accepted at Gate 5 off Arlington Drive, and free admission will not be honored after 3 p.m.

$35 Unlimited Carnival Ride Wristband

Enjoy all the rides you can handle for one price. (Sold until 5 p.m. Valid until 8 p.m. Wristbands must be purchased onsite. Required Fair admission sold separately.)

THURSDAYS

Wear Overalls Day (12-3 p.m.)

Guests in overalls will receive FREE admission. Valid noon to 3 p.m.

$3 Taste of Fair Food (12-4 p.m.)

Enjoy $3 samples of select Fair treats. Valid noon – 4 p.m.

Kids Day

Children 12 & under receive FREE Fair admission all day.

$35 Unlimited Carnival Ride Wristband

Enjoy all the rides you like for one price. (Sold until 5 p.m. Valid until 8 p.m. Wristbands must be activated onsite by 5 p.m. Required Fair admission sold separately.)

FRIDAYS

Seniors Day (60+)

$5 Senior admission plus FREE Ferris wheel and merry-go-round rides all day.

$2 Rides and $2 Games (12-4 p.m.)

Rides and games are only $2 each in the Main Carnival and Kiddie Carnival. Valid noon – 4 p.m.

SATURDAYS

Best Deal Ever (11 a.m.-1 p.m.)

Half-price general admission. Plus: Carnival Special is half off ticket redemption – that’s half the number of tickets, same amount of fun! Valid 11 a.m.-1 p.m.
This offer may not be combined with any other offers.

SUNDAYS

Sunday Fun Day (11 a.m.-1 p.m.)

Half-price general admission. Plus: Carnival Special is half off ticket redemption – that’s half the number of tickets, same amount of fun! Or, get a $35 unlimited ride wristband. Valid 11 a.m.-1 p.m.
Wristband is sold until 1 p.m., valid until 4 p.m..
This offer may not be combined with any other offers.

WEEKENDS

FREE Off-Site Parking (Saturday & Sunday)

Free parking and shuttle service is available on Saturdays and Sundays from the Experian parking structure located off the Bristol Street exit of the 405 Freeway. Follow the signs to “Experian.” The shuttle operates from 10 a.m. to 1 a.m. Saturday & Sunday only.

OC Fair Express bus service

Buses depart from nine locations on Saturdays and Sundays from July 14 to Aug. 12 and run from approximately 10 a.m. to midnight.

If riding Metrolink, you can connect to the OC Fair Express at the Anaheim Canyon, Santa Ana, Irvine or Anaheim-ARTIC Metrolink stations. Simply show your valid Metrolink ticket and ride the bus for free.

OC Fair Express costs $2 each way, or 75¢ for seniors 60+ and persons with disabilities. When you ride the OC Fair Express, you will receive a coupon for $4 OC Fair admission, that’s a $10 savings!

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