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

Ask The Experts: The Stovall Team

By Micah Stovall | Published: February 17, 2015

Q. We had to do a short sell on our home in Huntington Beach in 2011, but now we have landed on our feet again and want to buy a home in the neighborhood where we currently rent. We have saved up roughly 20 % down payment for a house we can afford. Is it possible for us to qualify for a mortgage?

A. It’s great that you landed on your feet and have saved so much toward a down-payment. A short sale or foreclosure is not the end of the line. Many homebuyers are re-entering the market now after waiting longer than they needed to before buying again because of emotional reasons. Many have had to recover psychologically from the experience as much as they’ve had to recover financially. Keep in mind that the local housing market is recovering. We see many who did a short sale for a low price are getting back in the market and have sticker shock. The Stovall Team understands the value of finding the perfect property to create a home as well as a sound investment.

There are many factors that will affect your ability to qualify for a loan in order to buy a house again after a short sale. If you have taken good care of your credit since, paid all your bills on time in the last 12 months, have money saved for down payment (as little as 3.50% to 20% down payment), and of course, you have income to qualify after a short sale, then yes, it is possible to buy a house again in as little as 12 months to 36 months after a short sale subject to certain conditions.

For more information on buying a home after a short sale, please contact us directly and we will discuss your specific situation. We work hard and will help make your dream of home ownership come true again. We are happy to put you in contact with lenders who will consult to see if you can qualify for different FHA programs and conventional loan after a short sale.

Working with The Stovall Team gives you the edge you need in this highly competitive real estate market place. Let the Stovall Team help with your Real Estate needs. Your best interest is always our highest priority. Call us today at 714.343.9294 or 714.393.5377 and visit our website stovallteam.com

Posted in Buyers, Short Sales | Comments closed

Experience Creates Results with Stovall Team

By Micah Stovall | Published: February 15, 2015

The Stovall Team places a premium on customer service, drawing on more than 58 years of combined experience and out-of-the box thinking to ensure that their Team provides the best customer experience in the business. The Stovall Team strives to stay on the cutting edge of marketing and technology. Stovall Team’s passion for real estate teamed with his negotiating skills and devotion to clients, is second to none.

Intimate knowledge of the communities and schools allows Micah and Steve to guide their clients as buyers and create strategic marketing for their Sellers.

*Map represents scope of Stovall Team sales in past year

Posted in Buyers, First-time Home Buyers, Sellers, Tips for Sellers | Tagged Coastal Orange County, Costa Mesa, Costa Mesa Real Estate, Cypress, Cypress Real Estate, Fountain Valley, fountain valley real estate, Fountain Valley School District, Garden Grove, Garden Grove Real Estate, Glen Mar Huntington Beach, Home Value, Huntington Beach, Huntington Beach Real Estate, Huntington Beach School District, Know your Agent, Micah Stovall, Newport Beach, Orange County, Orange County Real Estate, Orange County Realtor, Real Estate, Steve Stovall, Stovall Team, Stovall Team Real Estate, Top Realtor Team, Westminster Real Estate | Comments closed

By Micah Stovall | Published: February 11, 2015

Coastal Orange County, Costa Mesa, Costa Mesa Real Estate, Cypress, Cypress Real Estate, Fountain Valley, fountain valley real estate, Garden Grove, Garden Grove Real Estate, Glen Mar Huntington Beach, Home Value, Huntington Beach, Huntington Beach Real Estate, Know your Agent, Micah Stovall, Newport Beach, Orange County, Orange County Real Estate, Orange County Realtor, Real Estate, Steve Stovall, Stovall Team, Stovall Team Real Estate, Top Realtor Team, Westminster Real Estate

Posted in Real Estate News | Comments closed

Real Estate Stumbles Retirees Make

By Micah Stovall | Published: January 8, 2015

Most people heading into retirement inevitably make some sort of real estate decision—whether they downsize, relocate to a different community or make renovations to an existing home that makes the place more accessible to live in as they get older.
So, not surprisingly, there are numerous real estate stumbles people in this group may realize. “Real estate is usually one of the biggest assets retirees have, but it’s the area with the most emotional attachment—and a place where it’s very easy to mess up,” said Larry Luxenberg, managing partner with Lexington Avenue Capital Management, a financial advisory firm in New City, N.Y.
Below are five common retiree real estate stumbles.

1. Not downsizing soon enough. Big homes come with big energy bills and large lawns to mow—not to mention sizable real estate taxes and homeowner-insurance premiums. The longer you delay a move to a place that better fits your current needs, the more savings you’re missing out on.

2. Not investing the downsizing proceeds. When downsizing, not everyone walks away with cash at closing—some people buy a smaller home, but it doesn’t come with a less expensive price tag. If, however, you are able to purchase a home and bank some cash at the same time, it’s crucial to invest that windfall, Luxenberg said.

3. Not researching an area before relocating. Those with dreams of relocating to a tropical or snow-laden locale need to research the place before moving. Know how your taxes will be affected, the cost of the living in the new area, and generally how you’ll fill your days there. Be mindful about your health-care options, Research doctors and make sure the ones you’d choose are accepting new patients—and that they’d be in your insurance network. Those with specific health concerns should make sure there are specialists in areas they need.

4. Maintaining two homes. Maybe you’re interested in becoming snowbird, who likes living part-time in two locations. Maybe you’ve purchased a second home with the intent to retire there someday, thinking that you’d save money by buying at today’s prices. Either way, maintaining two homes is expensive.

5. Having a mortgage in retirement. Yes, mortgage rates are favorable, and owners can deduct mortgage interest when filing their income taxes. But most retirees live on limited incomes.

Let the Stovall Team help with your Real Estate goals. Call us today at 714.343.9294 or 714.393.5377 stovallteam.com
Sources: YahooFinance.com, Market Watch, Stovall Team

Posted in Sellers | Comments closed

11 Reasons to Sell Your Home During the Holidays

By Micah Stovall | Published: December 9, 2014

The holiday season is often considered the worst time to put a home on the market. While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages.

People who look for a home during the holidays are more serious buyers. With over 50 years of combined real estate experience, we have found that some of our most serious homebuyers have looked for homes during the holidays. Some buyers are anticipating year-end bonuses that will pad their down payment. Other buyers may be relocating at the start of the New Year to start a new job. Whatever the reason, these buyers are motivated – they’re not out looking at homes for the fun of it during the holidays while holiday to-do lists are looming large!
Serious buyers have fewer houses to choose from during the holidays and less competition means more money for you. Less Homes on the Market = Less COMPETITION! Let’s face it…most home sellers like to wait until the Spring and Summer seasons to put their home on the market.
Houses show better when decorated for the holidays. Buyers will see your neighborhood in a new light! Another one of our favorite reasons to sell your home during the holidays is that homebuyers will get to see your neighborhood all spruced up. Lots of residents adorn their homes with lights, festive wreaths, candles and more – it’s fun just to drive through a neighborhood and get a feel for it during the holidays.
Buyers are more emotional during the holidays. Happy homebuyers who need to move are attracted to homes that are warmly decorated and inviting. Buyers can get emotionally attached to your home if it invokes a sense of family and holiday spirit. (But don’t overdo it! )
Buyers have more time to look for a home during the holidays. Kids are out of school, and some families have more time to check out homes and neighborhoods – why not be one of the homes they want to see?
Some people must buy before the end of the year for tax reasons. Although tax benefits are not the main reason a person buys a new home, they certainly don’t hurt!
January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market.
You can still be on the market, but you have the option to restrict showings during the six or seven days during the holidays.
You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.
By selling now, you may have an opportunity to be a non-contingent buyer during the Spring. So sell your home during the holidays, know how much money you have to invest in your next home, and buy your next home with a strong, non-contingent offer!
The Stovall Team works during the holidays! The Stovall Team is WORKING during the holidays, helping sellers list their homes for sale, and helping buyers find the home that is right for them. We have learned that lots of home buying and selling takes place during the holidays, so we always make ourselves available to clients during this busy time. Let the Stovall Team help with your Real Estate goals. Call us today at 714.343.9294 or 714.393.5377 stovallteam.com