Buying a Co-Op property in Laguna Woods CA
Laguna Woods, California is a popular community located in Orange County, known for its mild climate, scenic views, and close proximity to the Pacific Ocean. If you’re considering purchasing a property in Laguna Woods, cooperative ownership is a popular option. However, there are important things to know before buying a co-op property in Laguna Woods.
One of the key things to know is that co-op properties in Laguna Woods must be purchased with all cash, as there are currently no loans available for stock cooperatives. This means that you’ll need to have the necessary funds available to complete the purchase and show proper proof of funds (POF).
In addition, it’s important to note that Laguna Woods Village has a strict leasing process. Buying a co-op property purely as an investment property may not align with the community’s preferences and guidelines. It’s important to understand and respect the community’s emphasis on owner-occupied residences.
Another important consideration when buying a co-op property in Laguna Woods is the higher HOA fees. However, co-op properties include your water, trash, and basic cable, which can make expenses lower overall. It’s important to factor in these fees when calculating your budget for purchasing and owning a co-op property.
When you first buy a co-op property in Laguna Woods, you’re not buying property, you’re technically buying stock in the cooperative corporation. This can make pricing more difficult to determine, as there are no tax records for the co-ops. It’s to connect with a real estate team like ours who know Laguna Woods & can guide you through the buying process.
Additionally, there are certain gate access and other nuances that an experienced agent will be familiar with, both inside and outside the gates.
It’s also important to note that if you want to do upgrades on your co-op in Laguna Woods, the previous owner may have ‘upgraded’ you out of their system. This means that almost every item from appliances to flooring is covered by the corporation that owns the co-op, but if you upgrade outside of the approved basics, it voids that item out of the umbrella of coverage. Disclosing any upgrades appropriately when buying or selling is important.
Laguna Woods offers docent tours which are a smart idea to take if you’re considering moving to the community, and book up well in advance, so plan accordingly. These tours showcase the community’s clubhouses, pools, clubs, amenities, and golf courses, all of which are a big draw for many buyers.
Laguna Woods Village is also a community that many out-of-state children are considering for their aging parents, so understanding the ins and outs of Laguna Woods co-op ownership can be helpful.
Buying a co-op property in Laguna Woods can be a great option for those looking for an affordable and community-oriented housing option. By understanding:
- the income
- financial requirements
- HOA fees
- stock ownership structure
- nuances of upgrades and disclosures
- taking a docent tour of the community
You’ll be well-equipped to make an informed decision about whether a co-op property in Laguna Woods is right for you.
If you’re ready to start your search for Laguna Woods properties, click here to explore available listings. You can always reach out to Angie at 949-338-7408 who can guide you through the buying process. Contact her today or comment below to learn more about available properties and to start your journey to owning a home in Laguna Woods.
Read Full Post | Make a Comment ( None so far )The Emotional Roller Coaster of Buying a Home
Buying a home is a major life event that can be both exciting and daunting at the same time. The process can take months, and it’s not uncommon for homebuyers to experience a range of emotions along the way. In this blog, we’ll explore the emotional roller coaster of buying a home and offer some tips on how to manage the ups and downs.
Desire
The desire to have a better place, a new chapter in life, or more or less space can be a powerful motivator for homebuyers. It is the starting point of the home-buying journey and is often accompanied by feelings of excitement and anticipation.
Excitement
“Excited to finally own my own home! Can’t wait to create my own space and see what this new adventure brings.” The home-buying process often starts with excitement. You’ve decided to take the leap and buy a home, and the possibilities seem endless. You start browsing online listings, imagining yourself living in the different homes you see. You may start to envision your future in your new home, from hosting dinner parties to raising a family.
Anxiety
“Will I be able to pay my payments & still eat?” As you start to seriously consider buying a home, anxiety can set in. You may worry about whether you can afford the homes you like, whether you’ll be able to find a home in a desirable neighborhood, and whether you’ll be able to secure financing. You may also worry about whether you’re making the right decision, and whether you’ll be happy with your choice in the long term.
Frustration
“This is so frustrating! Every home I like is either too expensive or already taken. And the whole process is taking forever! I had no idea it would be this complicated.” As you start to view homes in person and make offers, you may experience frustration. You may find that the homes you like are out of your price range or have already been sold. You may also find that the home-buying process is more complicated and time-consuming than you anticipated.
Doubt
“I could never buy my own place” As you start the process of buying a home, doubts can start to creep in, and you might question whether you can afford to buy your own place. This feeling of doubt can be overwhelming, and it’s easy to feel discouraged.
Exposed
“Damn I’m in the financial fishbowl with this preapproval” After you have been pre-approved for a loan, you might feel like you are in a financial fishbowl. You have to share all your financial information with the lender, and this can make you feel exposed and vulnerable.
Disappointment
“Nothing in my price range” As you continue searching for homes, you might find that nothing is within your price range. This can lead to feelings of disappointment and frustration.
Hope
“Wow found a keeper!” Finally, you find a house that you love, and it’s within your budget. This feeling of hope can be exhilarating, and you might start to feel like you’re getting closer to achieving your dream.
Despair
“Keeper thought my offer was a loser” Your hopes can come crashing down if the seller doesn’t accept your offer. This feeling of despair can be crushing, and you might start to wonder if you’ll ever find the right house.
Fear
“Might have to pay over my budget and comfort zone for what I want” If you do find the right house, you might have to pay more than you’re comfortable with. This feeling of fear can be overwhelming, and you might start to wonder if you’re making the right decision.
Determination
“I found the one I wanted and I’m getting it this time” Despite the fear, you might find yourself determined to get the house you want. This feeling of determination can be powerful and can help you overcome any obstacles that come your way.
Elation
“I can’t believe it! My offer was accepted and I’m going to be a homeowner!” When you finally find the perfect home and your offer is accepted, you’ll likely experience a wave of elation. You’ll feel relieved that the search is over, excited about your new home, and proud that you were able to secure it.
Spiritual
“Praying for the sellers to accept my offer. Praying I’m not making a bad investment. Praying I’m being a good steward.” As the home-buying process becomes more intense, you might find yourself turning to spirituality for guidance and support.
Terror
“Omg, my bank account is leaving me” Elation can quickly turn to terror when you realize how much money you’re about to spend. This feeling of terror can be intense, and sometimes this causes to wonder if you’re making a mistake.
Lost
“What am I even doing? How am I going to actually DO this? So many moving parts.” As you continue through navigate the home-buying process, you might feel lost and overwhelmed. There are so many moving parts, and it can be difficult to know what to do next. This is where a support network of quality professionals, including your Realtor, come in helpful. Indignant say lender or seller.
Indignant
“The lender wants what from me? Are you serious?” At times, you might feel indignant about the demands the lender is making. This feeling of indignation can be frustrating, and you might start to wonder if you’re being taken advantage of.
Sad
“The inspector called my baby ugly, and now all I can think about are the flaws.” Sadness can often set in when the inspector points out flaws in your dream home. After all, you’ve spent months, maybe even years, searching for the perfect property, only to have someone else call your baby ugly. It can be tough to see past the issues and focus on the good things about the house.
Afraid
“I don’t know how to fix the issues with this place, and I’m already spending all my cash.” Fear can also be a constant companion when buying a home. You may worry that you don’t know how to fix the problems with the house, or that you’re spending all your hard-earned money on a property that isn’t perfect. The fear of the unknown can be overwhelming, leaving you wondering if you’re making the right decision.
Torn
“Should I spend all my money on a place that is far from perfect?” Feeling torn is another common emotion that many homebuyers experience. You may wonder if you should spend all your money on a property that’s far from perfect, or if you should keep looking for something better. It can be challenging to balance your desires with your budget and find the right compromise.
Hurt
“The seller won’t give me the credit I asked for” Hurt can also set in when the seller won’t give you the credit you asked for. It can feel like they’re not taking your needs into account, and it can be challenging to move forward when you feel like you’re not being heard.
Confused & Defensive
“Who should I call for quotes that are trustworthy?” Confusion and defensiveness can arise when trying to find trustworthy quotes for repairs and maintenance. With so many options out there, it can be challenging to know who to trust. You may feel like you’re constantly on the defensive, trying to protect yourself from being taken advantage of.
Annoyed
“Why is the appraisal back late? Why are the handyman quotes back so late or so high?” Annoyance is a common emotion when the appraisal or handyman quotes come back late or too high. It can be frustrating when things don’t go according to plan, and you’re left waiting for someone else to make a decision or provide information.
Exhausted
“I don’t feel like getting multiple quotes or scheduling more inspections or appointments. I already gave you that information, now you need it again?” Exhaustion can set in when you’re constantly getting multiple quotes, scheduling appointments, and providing information. It can feel like a never-ending cycle, leaving you feeling drained and frustrated.
Focused
“Ok…it’s just a few more things. I haven’t come this far to come this far. I got this.” However, despite all the challenges, it’s essential to remain focused on the end goal. You’ve come this far, and you can’t give up now. You have to keep pushing forward, even when things seem difficult.
Devastated
“I might not get the loan. I did everything they told me and now they want more.” Feeling devastated can be overwhelming when you think you might not get the loan. You may have done everything that’s been asked of you, only to be told that more is needed. It can feel like you’re hitting a brick wall, and there’s no way around it. This is why it is so important to go through the full loan approval process BEFORE opening up escrow.
Depressed
“Ugh, this isn’t happening and I wasted my time. I wasted my money. I wasted other people’s time.” Depression can set in when things aren’t going as planned. You may feel like you’re wasting your time and money, and that you’re letting other people down.
Pist off
“Why me? Everyone else seems to get a loan and their own place? Wtf?” Feeling pist off is another common emotion that many homebuyers experience. It can be frustrating when it seems like everyone else is getting a loan and their own place, and you’re left wondering why you’re having so much trouble.
Optimistic
“Wow a new option popped up and this may actually happen” But, there’s always a light at the end of the tunnel. Feeling optimistic when a new option pops up can be a game-changer. Suddenly, everything seems possible again, and you’re filled with renewed hope.
Indifferent
“I’m mentally tired. Whatever happens at this point. So over it and totally afraid to be excited after all these bumps in the road.” Feeling indifferent can also be a coping mechanism when you’re mentally exhausted. It can be tough to get excited after all the bumps in the road, and you may feel like whatever happens, happens at this point.
Worried
“That is the most money I have ever wired out of my bank account. Ever. What if the wire doesn’t get there? What if I lose everything to cyber fraud??” Worry is another common emotion that many homebuyers experience when they wire the most significant amount of money they’ve ever wired out of their bank account.
Apprehension
“So much to do before closing and overwhelming. Worrying that something will go wrong and the deal will fall apart.” Once the initial excitement wears off, you may start to feel apprehensive. You’ll likely be faced with a long list of tasks to complete before closing, from scheduling inspections to securing financing. You may worry that something will go wrong and the deal will fall through.
Enthusiastic
“Yay they got the wire got there, I think this is actually happening!” You have been house hunting for months, and finally found the perfect home. You made an offer, went through the inspection process, and the financing was approved. Now, the wire has been received and you are filled with excitement. You are about to become a homeowner!
Empowered
“I DID it! We closed escrow! I bought a house!!” After all the hurdles you have faced, you finally closed the escrow and bought the house. You are filled with a sense of empowerment and pride in yourself. You did it! You bought a house!
Anticipation
“So many things I want to do to make it mine.” Now that you have a place of your own, you can’t wait to put your personal touch on it. You start to think about all the things you want to do to make it yours. Maybe a new coat of paint, new furniture, or landscaping the backyard. The anticipation of turning your house into a home is exhilarating.
Anxiety
“Will I be able to pay my payments & still eat?” As the first mortgage payment comes due, you start to feel a bit of anxiety. Will you be able to make the payments and still have enough money to live on? The fear of not being able to afford your dream home is nerve-wracking, but it motivates you to be smart with your money.
Relief
“It feels like a huge weight has been lifted off my shoulders now that we’ve closed on our new home.” When you finally close on your new home, you’ll likely feel a sense of relief. The process is over, and you’ve successfully purchased a home. You can start planning your move and begin to settle into your new space.
Thankful
“I’m getting in the groove with my payments and property upgrades.” As time goes by, you become more comfortable with your new financial responsibilities. You are thankful for the stability and security that comes with owning a home. You also start to enjoy making property upgrades and see the value of your investment increase.
Grateful
“Love my new place.” As you settle into your new home, you feel grateful for all that it provides. You love the space, the community, and the memories that you are creating. You are grateful for the decision you made to invest in your future.
Fast forward 10 years…..
Satisfaction
“My equity has significantly increased and I’ve been paying down my mortgage.” After a decade of ownership, you are proud of the financial investment you have made. Your equity has significantly increased, and you have paid down your mortgage. Your home has become one of your biggest assets, and it provides a sense of security for your future.
Renewed
“I’m ready to ride this emotional roller coaster again for an investment that secures my family legacy.” With the success of your first home purchase, you are now ready to ride the emotional roller coaster again. You are eager to invest in another property that will secure your family’s legacy. The thrill of the home-buying process is calling, and you are ready to embark on a new adventure.
And so the cycle continues.
The emotional roller coaster of buying a home never ends. But with each ride, you become more experienced, more empowered, and more grateful for the opportunities that homeownership provides. Despite the ups and downs, owning a home is a life-changing experience that is worth every emotion.
Tips for Managing the Emotional Roller Coaster
The home-buying process can be overwhelming, but there are things you can do to manage your emotions along the way:
- Set realistic expectations. Understand that the home-buying process is rarely straightforward, and it’s normal to experience a range of emotions.
- Communicate with your real estate agent. Your agent can help you navigate the ups and downs of the process and provide guidance and support.
- Lean on your support system. Buying a home is a big decision, and it can be helpful to talk to friends and family members who have been through the process before.
- Take care of yourself. Self-care is important during any stressful time, and the home-buying process is no exception. Take breaks when you need to, eat healthy meals, exercise, and get plenty of rest.
Riding an emotional roller coaster when buying a home is a normal & natural part of the process. Remember you are not alone. By understanding that you’ll likely experience a range of emotions and taking steps to manage them, you can make the home-buying process more obtainable and enjoyable.
If you’re feeling overwhelmed by the emotional roller coaster of buying a home, remember that you’re not alone. We would love to hear about your own experience and how you were able to navigate the process with more ease. Please leave a comment below sharing your tips and tricks with the community. And don’t forget, if you need guidance through the process, you can always reach out to Angie at 949-338-7408, who can provide you with professional advice and support.
Read Full Post | Make a Comment ( None so far )The 2023 CA Housing Market Forecast: What You Need to Know
The California housing market is always changing, and it’s important to stay ahead of the trends if you want to be successful on your real estate journey. That’s why we were so excited to have Jordan Levine, Chief Economist at C.A.R., give a can’t-miss forecast of the housing market for 2023 at the ReImagine conference last week.
This valuable data will provide insight into today’s pressing housing issues that may impact your equity and your largest investment in the future. It’s essential information for anyone who wants to stay ahead of the curve in California real estate!
Forecast: Chance of Rain in seller’s paradise
Our economy is getting hit with a lot right now, so it’s important to keep an eye out for the clouds! We just finished years of sunny skies in terms of equity and appreciation, but the buyers running after starved inventory have been a bit burnt out.. and now loan rates have hit them with a huge gust of wind on top of it.
Low low interest rates the last 10 years had allowed buyers to continually increase purchase prices, and still have an affordable payment. It looks like that trend is now dissolving, which brings cloudy skies to our CA real estate market.
If you’re looking at the big picture, our 2022 Jan-June market was white hot, and 2021 had the highest volume of California home sales in an entire decade, over 450,000 homes were sold. 3 out of 4 homes sold over the asking price in 2021. The average days on the market was 7, when it’s historically 30-90 days. This type of supply & demand is not healthy, and it had to ‘simmer down’ eventually. Welp… here we are. We are catching our breath; including agents and lenders who have been pelted the last 2 years.
What Does This Mean for CA Buyers and Sellers?
If sellers are confused why buyers are now offering less than the asking price, the interest rate boost adds an additional $1600-1700 per month for the EXACT SAME HOME.
If buyers can’t qualify for the same amount as they could previously, that will affect our property prices. We are now at less than 20% of individuals in California who can afford a home. It’s not as bad as we have been, but it would still be nice if more people had homeownership as an option.
Warning: Rate pressure is building. Mortgage Rates might get worse.
Because rates may go even higher, its critical to price your homes right and maintain realistic expectations. Because every local market is different, what you see on national news is not necessary YOUR reality. And what you see in the newspapers… remember gloom & doom headlines sell, and the news needs subscriptions. Don’t get caught thinking Southern California prices are on a cliff, when we are just panting on the side of the road from exhaustion. Properly priced homes will always sell.
Fact: The sky is not falling
It’s not projected we are heading into a foreclosure market. Homeowners still have over 122K average in wealth, and renters are no better than they were 40 years ago, with a 6K average net worth. The total net worth of consumers is down right now, so we should expect some pushback. Now is NOT the market for Brother in law effect…’my BIL said xyz’. Now is the market to look to the true professionals and experts to guide you. The news outlets are also not experts. Active real estate agents and mortgage lenders are.
Forecast: What does the future for Orange County real estate look like?
Historically, our new rates are still low, and we should be looking at them as the new normal. According to multiple experts, we shouldn’t expect rates to go back down again in the near future. It’s still a great time to buy a home if you’re renting, and the renters were some of the most ignored in our previous market, so you will see them come back into the fray. Buyers who were at the cusp of affordability may unfortunately be priced out of the market, or they will be offering lower than asking price because they are literally chasing the property that was affordable with 6 month ago rates.
Sellers who listed 30-100K over the previous summer comps will likely have to reduce price or face their listing expiring. It’s a good idea to research sales in the community (comps) the last 90 days, and see what the median comp range is. Listing at the top of your comp range with the current market temperature could cause the home to sit frozen on the market. Not to worry though, properly priced homes in Southern California will always sell. Make sure you work with a seasoned professional and list at the right price from day 1, or you could suffer. Discount and ibuying brokerages don’t do well in this type of market – beware!
Many investors, seeing the writing on the wall with interest rates, are putting 1031 exchanges in motion, and adjusting portfolios accordingly. Some are tiring of strict Los Angeles rent control and housing regulations, and are opting to relocate investments to neighboring counties or even other states that don’t impress as many regulations or red tape.
If you’re curious about the range of your home’s worth, including short term and long term rental rate averages, click here: https://hmbt.co/TTNcDG – If you would like to receive monthly Orange County and Los Angeles real estate reports simply sign in to the link above for a free account – it’s that easy! Angie is only a call or text away if you would like a full broker price opinion on your home or investment property 949-338-7408.
You’re Invited to Homeownership Day 2022 – Achieving Through Real Estate
January is always an ideal time to circle back to our roots, to review our long term goals, and realign with our True North. It’s a fresh new year, and anything is possible. Many people are taking a look at what needs to change, and if 2021 is any indication, we are still switching up the way we live and work in light of all that’s happened the last couple years.
As we saw people quit their jobs and aspire for extraordinary things in the year of ‘The Great Resignation‘, we also saw a huge shift in housing needs and requirements. People ‘quit’ apartments & condos, and opted for single family homes with yards. Families upgraded living space, as employment and schools had extended virtual runs. Change is still happening everywhere, and home is at the center of it all.
With so many people wanting a new environment at the same time, the demand for housing across the country reached record heights and the bidding wars began.
This is just one of the many reasons we offer Homeownership Day on a yearly basis; things always seem to be moving fast when it comes to housing, and it’s important to stay on top of the current trends to be most successful with your real estate.
Achieving Through Real Estate
The 2022 theme for Homeownership Day is ‘Achieving Through Real Estate’, and all are invited to this free virtual event on January 29th from 10am-1pm PST. Homeownership Day is designed to be inclusive for all humans – from renters curious if they can purchase property all the way through investors looking to sharpen skills and knowledge. Our program changes up each year so you aren’t hearing the same information, or outdated perspectives.
The program is brought to you in bite-sized 30 minute educational sessions, so you can get a variety of information on today’s important real estate topics. We know you’re busy, and this event is designed to bring about awareness and build relationships with the right community to accomplish your property goals.
Challenges in the recent market have been lack of inventory, bidding wars, discrimination, sharp price increases, loan / appraisal turnaround time, and more. Sessions for this year have been based around these challenges, and offer help to overcome today’s specific real estate market hurdles.
For this year’s specific sessions and offerings, click here:
https://homeownershipday.com/sessions/
If you’re looking to achieve great things with real estate, please join us and register:
Homeownership Day Online Event
January 29th, 2022
10am – 1pm PST
https://homeownershipday.com/sign-up/
Expect to be inspired with some innovative ideas and fresh perspectives. This is not your average real estate event.
In case you’re wondering, Homeownership Day will never try to pressure you into buying or selling real estate. The speakers have all agreed not to ‘pitch’; only to educate. This event is a public service that is put on through multiple outlets, so you’re never getting pigeon holed into the opinions of one particular corporation or company. Our speakers are industry experts, all hand selected with care, and our goal is YOUR success.
This year’s main sponsors are NAWRB & Vow2Save – both entities creatively serving the real estate ecosystem.
It’s my personal opinion that when we are all successful with real estate, we can focus on what is most important in life – the people and the places we love. If there’s a topic you would like to see covered at a future Homeownership Day event, please comment below so we can help you on your journey.
Read Full Post | Make a Comment ( None so far )5 Reasons to Have a ‘For Sale’ Sign in Your Yard!
Read Full Post | Make a Comment ( None so far )1. A For Sale sign will give your home more exposure! Exposure that online posting just can’t offer! Here are a few things that having a For Sale sign can do for you and your sale process!
2. A For Sale sign can broaden the neighborhood boundaries that potential buyers may have not have considered yet. When potential buyers are scrolling through Zillow to search for potential new homes, they might restrict their online searches and not view any homes in your neighborhood. Having the sign in your front yard can attract potential buyers as they pass through the neighborhood.
3. Your neighbors will know you are selling your home! If your neighbors are not in the market for a new home, they may not see that your home has become available. Your neighbors may share the house link with their friends or family who are in the market for a new home. Everyone wants good neighbors!
4. A For Sale sign can provide potential buyers with a direct contact (your Realtor). If potential buyers come across your for sale house and have questions, they know who to contact with their questions.
5. Many potential home buyers start their home search on Google, Zillow and other real estate search engines. Online searching is efficient and makes it easy to save your favorite homes. Having a For Sale sign in your yard will give potential buyers the opportunity to snap a photo of your home, the sign, and add it to their online searches later.
Questions? Reach out to our team, we are here to help!
Top 3 Stores in Orange County to Shop for Consignment Furniture
Shopping for new home items can be so exciting! Filling a house with your unique furniture, decor and style is what makes a house feel like a home. Instead of filling your new home with items that all major furniture stores provide, consignment shopping allows you to design your home with unique, quality brand name pieces that are unique to your home. While you’re shopping for your home, you may even think of items you would like to consign! From furniture, to clothes, to just extra household items, you can consign your items before shopping for new! Check out our list of the top 3 stores in OC to shop for consignment furniture, based on personal reviews and experience.
Home Consignment Center – Newport/Irvine
Located in Irvine, California – Home Consignment Center offers a variety of furniture:
- Accent tables
- Home office furniture
- Bedroom sets
- Coffee tables
- Patio furniture
- Entertainment centers
- Dining room furniture
- Sofas
- Armchairs
They accept all kinds of furniture, from expensive heirlooms to trendy homegoods. You can drop off your items or they can arrange for pick up. Find their website and more information here.
Address: 18910 Teller Ave, Irvine, CA 92612
The Legacy Center Furniture
Located in Costa Mesa, California – The Legacy Center Furniture store offers a variety of high end items. You can submit a quote of your items directly through their website here.
Address: 2215 Harbor BlvdCosta Mesa, CA 92627United States
The Hunt Fine Consignment
Located in Laguna Hills, California – The Hunt Fine Consignment offers a variety of design, architecture, age and intrigue. The Hunt loves stylish furnishings and items that are antique, new, vintage, unique or just decorative for homes. They take any kind of items. They also accept large volume consignments, abandoned containers, or business closings.
For more information and to learn about the consignment items they have, view their website here.
Address: 23461 Ridge Rte Dr suite a, Laguna Hills, CA 92653
Where is YOUR happy place? Homeownership Day 2021 is going virtual, nationwide, & global.
Hi friends!
Although 2020 has been a challenging year for all of us, it has not been without some unexpected benefits. One of them is the new age of virtual employment, which has opened doors for so many to have an opportunity at homeownership. Individuals previously forced to rent in expensive urban areas are now free to move to a larger place, for less money, and have more options. We’re all about that – and Orange County Young Professionals Network is here to support your adventure!
Simple Solutions to Buying, Selling, & Investing in Real Estate
To that end, in 2021 YPN will do our annual Homeownership Day event virtually, and it won’t just be about investing in Southern California real estate. Instead, we’ll be offering local expert agent guidance in many popular cities across the United States, and actually the entire world.
If you haven’t looked at your home as an investment, or considered property as a path toward early retirement, we encourage you to attend the event on January 23, 2021 and look at your real estate in a new light. YES, it’s a place to thrive, to make memories, to customize your taste, to raise your family. But it can be so much more.
You can turn one property into a legacy, and that’s the session I teach & am passionate about. This year’s title is “Concepts to Become An Automatic Millionaire in Southern California & Beyond”; you can register for this 30 minute session by filling out the form below. I’ll educate you on a safe, secure, and timeless strategy for building up your real estate portfolio. These concepts don’t encourage you to stretch yourself too thin, take on a second job, or become a handyman; they are simple and easy to follow. And you can learn them in 30 minutes. I’ll tell you what – if you’ll just commit the time – I’m here to cheerlead you to the finish line.
Owning Property Can Change Your Future
As many of you know, I have been personally working on this strategy for over 15 years now! Because Real Estate is my full time job, we’ve taken it to the next level with vacation rentals, and the creation of Flower Den Retreats. I have found that owning property allows me to truly express myself, whether I’m creating art within, or dreaming up the next concept for a therapeutic space with the ones I love.
I want you to be able to flourish in your space too – are you? If you are, please comment what you love about your home below. Its fun to share our unique ideas 🙂 If you aren’t, fill out the form here and let’s get you on your way in 2021.
If you’re curious to hear what other previous attendees have to say, success stories, or info on the sessions we’ve held in the past, just subscribe to our YouTube Channel. We’ll be uploading new content on the regular. Here’s a video from a couple previous attendees who were able to buy a townhome with barely any money down, and now they are happily raising a family there.
Let Homeownership Day Lead You to Your Happy Place
Sometimes, change is good 🙂 To have a supportive tribe around you as you grow is so helpful, and that’s exactly what you’ll get out of Homeownership Day. Like minded people who want to learn and level up too. All the speakers are no-pressure, happy to answer questions, and excited to connect with you. The vibe of this event will be fresh, fun, educational, and there won’t be a single pitch. Promise. We’ll see you online Jan 23rd!
PS. If you know someone who should be presenting at this event, just connect us by emailing ochomefair@gmail.com & the committee will reach out to them – we love new angles of education and to connect with other professionals across the globe.
Homeownership Day 2021 Sign Up
Buying Your First Home in California: How to Dig up Down Payment Funds
Today we’re spending a Saturday in Pomona at FACE LA’s Homebuying Fair – we met them through NAWRB and LOVE what these organizations stand for. FACE has compiled quite a few programs to help you with down payment funds, and have relationships with LOTS of generous banks who can help with lower interest rates, buy downs, silent seconds, and more. Sharing is caring…so read below to find some free down payment funds to get your family into a home!Tip 1: Find a lender familiar with the Community Reinvestment Act, and align yourself with a housing non-profit like FACE.
Tip 2: Explore Down Payment Programs & properly prepare to buy a home with education
These purchase programs (and many others) have some caveats. The home must be your primary residence, and you must pass a homebuyer education class (approx 8 hours). Did you know taking homebuyer education classes before you buy make you 30% less likely to go into foreclosure? This is why many city, bank, and state programs will require you take one before receiving funds. Everyone wants you to succeed in your homeownership venture, so there are milestones like this in place to set you up to win.
Tip 3: Use OPM (Other People’s Money) to Help with your Down Payment
Tip 4: Layer your SoCal Down Payment Program benefits with bank programs too:
It was great to see so many banks offering programs to first time buyers. Here’s just a few of the programs our banking panelists talked about. If you’d like to get more info, sometime’s it’s easiest to just call FACE or check out an upcoming Home Fair – like OC Home Fair every January.
- Bank of America currently offers a 10K grant offering in low to moderate income communities, PLUS a 7500 closing cost credit that applies to the entire country, check into it! In many states 7500 would cover the majority of your closing costs! 🙂
- Wells Fargo has a lift program that gives 25K.
- Boston Private has a 1% down conventional first time buyer program without mortgage insurance (when layered w other programs) that considers the entire scenario. If you’re self employed.. this is a great bank to call.
Union Bank has a 3K down payment assistance grant for closing costs or down payment assistance, which can be layered with other programs. Sorry couldn’t find the link for this exact program, but here are the low down offerings!- HSBC offers 7K toward closing costs for first time home buyers, and also 1/2 off your interest rate! Their credit requirement is only 620 so they are good if your credit is bad.
- US Bank has 95-97% loan to value offerings & non-traditional credit consideration. They have a Mortgage Insurance program where they pick it up on your behalf. If you want just a lot, ask about their land program! You may also qualify for the American Dream program.
- Bank of Hope has an in house underwriting Dept with a quick turnaround. They also waive mortgage application fees if you have an account with them.
- Loan Depot – prides themselves on being very familiar with DAP – down payment assistance programs. They like to layer, and they can take credit as low as a 520 score.
Looking for your first place or a beach close investment property? Look no further – 
With a long list of amenities that include a clubhouse, pool, spa, sauna, tennis courts, racquetball courts, gated parking, and a large greenbelt area that over looks the wetlands, Cabo del Mar lets you indulge. Plus being
in front of the cozy gas fireplace to warm up and relax.
Inventory should stay around 6500 homes, and appreciation is expected to be 2-3%. If our inventory goes up to 7500 homes, then we’ll have flat appreciation. If everyone freaks out because the election candidates suck and list their home, then a negative 2% is expected (if inventory rises over 7500).
TRID is the 
Orange County Real Estate Success 