What Buyers Want in their Homes: The Most Wanted List

Fountain Valley Real Estate, Stovall Team, Fountain Valley, Huntington Beach Real Estate, Westminster Real Estate, Westminster, Garden Grove Real Estate, Costa Mesa Real Estate, Top Realtor Team, Real Estate, Triplets, Orange County, California

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Ask the Experts: The Stovall Team

Q. How does a nearby new development impact prices of existing properties in the same neighborhood?

A. Great question! Our neighborhood is experiencing this situation as building is slated for Summer/Fall 2014 on Fairwind by TRI Pointe Homes on the former site of Lamb School. Truewind by TRI Pointe Homes will be built on the former site of Wardlow School on Pioneer Street and Magnolia. Prices for the new homes are anticipated to start at $900,000 to $1 Millions. (More information about the development can be found at http://www.tripointelamb.com)

There is no hardfast rule on this but logic and our experience supports that development on nearby proper-ties make the whole neighborhood look better–even for those that re-main unchanged. If property in our neighborhood decides to remodel or add on, not only will the new homes in the area help support the additional square footage, the other homes in the area will also be worth more merely because more folks want to live in an “improved area.”

We saw this in Fountain Valley with the new Lyons Homes on Bushard and Slater, the KB homes off of Bushard and Heil, and the recently completed Solana Walk by Olson Homes on Brookhurst and the 405. In those neighborhoods several home that were super-improved for the neighborhood were able to use these new developments to either refinance or sell for more than they could have had the new homes of not been built. For owners in the Glen Mar homes, Glen Mar South homes, South Shore homes, and surrounding tracts this is a situation where in other areas the positives have outweighed the negatives.

Source: Micah Stovall, The Stovall Team

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TET Festival February 7, 8, 9th 2014

The Tết Festival of Southern California is recognized as the world’s largest Tết Festival outside of Vietnam. Helping preserve Vietnamese culture, the Tết Festival boasts about the attraction of over 100,000+ audiences and hundreds of booths in a span of a three day weekend event. Visitors are immersed with a vibrant array of traditional foods, live entertainment, festive games, and customs celebrating the Vietnamese Lunar New Year.

Location

OC Fair & Event Center
88 Fair Dr.
Costa Mesa, CA 92626

Dates/Hours of Operation

Friday, February 7th: 3PM to 10PM
Saturday, February 8th: 10AM to 10PM
Sunday, February 9th: 10AM to 9PM

Admission

At The Door

General Admission: $5

With OCTA bus pass: $1

Parking & Shuttling

OC Fair & Event Center Lots: $7 per car
Orange Coast College (OCC) Parking Lots: FREE (Corner Fairview Rd & Merrimac Way or Arlington Dr)
Westminster Civic Center/Freedom Park Shuttling: FREE (Available on Saturday & Sunday from 12 – closing)

Westminster Civic Center/Freedom Park
8200 Westminster Blvd
Westminster, CA 92683

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Home Improvements that Pay You Back

Stovall Team

Stovall Team

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More Homeowners Spruce Up Their Homes

We are all starting to re-evaluate pending home remodeling projects. There are many homes that are doing significant home improvements in our neighborhoods. The National Association of Home Builders’ Remodeling Market Index shows remodeling activity at its highest reading since the first quarter of 2004. The index was at 57 in the fourth quarter of 2013. Any reading above 50 indicates more remodelers report market activity is higher than those who report lower. The index’s future market conditions rose to 58, the highest reading since recording of that measure began in 2005.

“Steady existing home sales, historically favorable interest rates for home buyers and rising home equity have combined to release some of the pent-up demand for home remodeling from the past few years,” says NAHB Chief Economist David Crowe. “This quarter’s RMI reading shows that the slow but steady improvement in the remodeling market will continue in 2014.”

The National Association of the Remodeling Industry’s fourth quarter Remodeling Business Pulse data also showed an uptick in remodeling activity.

The Stovall Team knows your neighborhood. We have lived and worked and owned our homes in Fountain Valley and Huntington Beach for over three decades. Call us today for ideas for your floorplan. Chances are high we have seen and/or sold your model in many different configurations.
You can reach Micah Stovall at 714.343.9294 or [email protected] or Steve Stovall at 714.378.3438 or [email protected].

Source: Realtor Magazine, January 27, 2014 article and Stovall Team

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Time To Sell? Better to Stay Put? Move Up or Downsize?

Are you staying in your home when it no longer suits your needs – physically, financially, or any other way? Are there conflicting reasons that are deterring you from making a move?
When real Homeowners are stuck on bad reasons for staying, they may overlook good reasons for selling and miss out on many levels. Let’s take a closer look….
You desire to Sell your home and you can afford a bigger or better home in an area you love, and you’ve got good financial reasons for selling. We would be happy to provide a plan to acquire the most possible for your present home and negotiate the best possible price & terms for your next home.
You may be distracted by common reasons to stay and not sell. Maybe your children are grown and have moved out or your family has in-creased in size. Maybe adding a room, repurposing you current floor plan or eliminating a pool is the answer?
The Stovall Team can help you with your questions. Take a close look at your decision to stay in your current home. You may discover that you’re actually convinced that this is best to preserve the status quo. Sometimes reducing your concerns to the smallest common denomi-nators can help you see and attend to your needs and desires and eliminate stress and worry.
The Stovall Team has been trained to help Homeowners make in-formed decisions to preserve the best of the status quo while making progress in as many other ways as possible – whether that requires a move or not. Our team will also provide real estate solutions or other recourses for adapting to significant change with the best possible results. This could mean that we may see the flaws in your decision making before you do. They will be happy to point out alternatives that may also apply.
Friends and relatives are often well meaning & eager to give advice but have their own agendas and are limited by their own life experienc-es. They may also have poor decision-making skills. This adds up to them being less help than you or they would like to admit, maybe even a hindrance. The Stovall Team will remain unbiased with our recommendations. Too often, stress related to problems that keep us hanging on to “home” blinds us from decisions that make sense by simply solving problems and relieving stress.

Do you recognize yourself in this list? “I can’t afford to move. “Sellers who say this and believe it are confused by the difference between affordability and value. Sometimes living in a larger home than is needed simply ties up equity and dollars you could spend to live in your dream home.
· Homeowners that live in a property that meets all their needs and fits their budget – that’s affordability – have great reasons to stay and be content. If this is the case for you, sit back and enjoy your home. You will be rewarded as you equity swells.
Sellers that are just scraping by, often by deferring much-needed maintenance and foregoing life’s pleasures, actually can’t afford to stay. These things can lead to homeowners making drastic lifestyle changes. Refinancing or renting out part of the house represents the type of solutions that may make this home affordable. These life style altering solutions may or may not be viable options; it is a matter of personal preference. There are very likely genuinely af-fordable housing options out there. Have you really investigated all your options? The Stovall Team can help you analyze this dilemma.
“I’ve no choice since I can’t afford the areas I really like.” Who says? Real estate values have taken some dramatic shifts and will continue to do so. Most sellers do not know exactly what they could sell for or exactly what comparable housing in their preferred neighbourhoods would cost. The Stovall Team can help answer all your questions regarding neighbourhoods in your area. Take the positive approach, “How can I afford the area I really love?” and find an experienced real estate professional that enjoys achieving a challenging goal.
Call us today for assistance in executing your plan. We can be reached at 714.343.9294 OR 714.393.5377 or visit our website at www.stovallteam.com Sources: Stovall Team

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  • Stovall Team | Seven Gables Real Estate | 19671 Beach Blvd. Suite 100 Huntington Beach, CA 92648

    (714) 343-9294

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