Down Payment Help You May Not Be Aware Of

 

How Down Payment Assistance Increase the Pool of Homebuyers

A lot of people, individuals, couples, and families, are determined to purchase a home soon since low mortgage rates remain a great benefit for homeowners and first time buyers. However, the latest study from Sparks Research reveals that one out of every five first-time homebuyers report not enough financial education as a barrier to getting them to the closing table.

It's not easy to reach a decision if you're unsure of the process of buying a home. The truth is, around 80 percent of homebuyers need help on what they can even afford. This makes the reason for finding the right professionals to help you through the homebuying process so important.

Furthermore, the same study states more than 66-percent of potential homebuyers feel they'll need financial assistance for the down payment so they end up stop looking. What they may be unaware of is that there are many down payment assistance programs at the state and local levels, and many  have funds available waiting for prospective buyers.

Down Payment Assistance Programs Are Available for Many Types of Homebuyers
It is not restricted to just first-time homebuyers so it's worth checking out additional options wherever you are in your path to homeownership. As an illustration, if you have a job that gives you the flexibility to work from home, you may want to consider moving to a more inexpensive area where you can buy more goods with your income along with having more space. The Chief Economist for the National Association of Realtors (NAR), Lawrence Yun,  points out:

    "Suburban and Rural areas have home loans, like USDA loans, that can be financed with a zero down payment to qualified borrowers."

If affordability is one of your concerns and you know that working from home long-term is cemented, the perfect home could be in an area you never considered before. Moreover, the down payment assistance program you are looking for may be within reach too.

If you're curious about getting more information about these local assistance programs, further information can be obtained from Down Payment Resources. Your real estate agent should be able to help you figure out which option is best for you personally.

The Takeaway
As a result of several down payment assistance products, low-cost home buying options are available for today's prospective homebuyers.  Get connected in order to get started on the path towards homeownership.

Warnings That Could Cause Problems for Homebuyers

  Imagine you've located the ideal home in the perfect neighborhood. It checks off every box in your list of cant-do-withouts, a lot of room, as well as all of the nice-to-haves. But when you go see it with your agent, a few big problems stand out, like evidence of water damage,low ceilings in the kitchen and other rooms, or a visible crack in the wall. The question is now do you take this off the list from what seemed like your dream home?

Watch Out for These Warning Signs During a Showing

When you view homes for sale, it's good to keep in mind that the seller may not ever disclose (or know) the entire truth about their home. They may have moved in just within the last few years and it's a 10 or 20-year old home.

With regards to your home's condition, ask a professional home inspector or your agent because they'll usually be able to identify problems that you may not see yourself.  Their experience can be very valuable in terms of cost savings if you decide to purchase the home.  

And although the home may look well-maintained at first glance, there could be some remaining defects that aren't noticeable to an untrained eye—the following are a few examples.
Foundation issues

Water damage in ceiling

A bad foundation is among the largest and most expensive issues you will have in a home. If you discover any foundation cracks (either inside or outside) it may indicate the home may have significant structural defects if its larger than one-third of an inch.

Additional clues of possible foundation problems consist of doors that don't shut closed, window frame gaps, or floors that droop in spots.

Quick handyman fixes like a leaky faucet or ungrounded electrical outlet may point to a much bigger problem. If you're looking at a home you're interested in putting an offer on or have your offer accepted already, tell your agent to find out the age of the wiring and plumbing.  This should be very important to you in order to prevent potential floods or fires and costly repairs in the future.

Ideally, roofs should be replaced every 12 to 15 years. So if you notice some missing or curling shingles, it could mean that a home's roof is getting pretty close to the end of its life cycle. If you're unsure regarding the age of the home's roof, just ask your agent. They can contact the seller's agent for more information or get a home inspector.

Did you notice any dark spots in the ceiling and floors of the home? If yes, this may be a evidence of water damage, which is usually an expensive repair. Make it a point to examine the drainage condition of the home. Following a big rainstorm in a yard that isn't appropriately graded could result in water to leak inside the home.

Homes that have basements are more likely to have leaks than homes without a basement, so remember to go downstairs to search for water damage!

Insects, rodents, and other unwanted pests can become a huge problem for a home, especially if it's extensive in the home. Termites for instance should be a big red flag because they can ruin a home's total structure prior to being discovered.

If you see a huge number of bugs or mice droppings during your viewing, you may want to pass on the home and move on to the next.

If you smell a foul odor during a showing, these scents could be an indication of mold, mildew, water damage, pests, poor ventilation, and numerous other issues. You should be especially concerned if a seller appears to be masking odors with heavily scented candles or air fresheners.

Even if you don't come across any of these issues, it's highly recommended to have a physical inspection after your offer is accepted. A professionally licensed  home inspector can identify trouble both big and little and will give you a comprehensive report of everything he/she inspected that must be repaired.

Once you have the report in hand and it has issues the seller was unaware of, you may want to consider renegotiating the price of the home or request the seller to fix the problems. Having said that, if the home is being sold "as-is," you may just have to accept the cost and do your own repairs.

Orange County home prices make another record high at $775,000

 Looking to purchase a home in a hot real estate market?

There's no question that 2020 has been a challenging year for a majority of people, but especially for those who were trapped in a city that totally shut down because of COVID-19.   In major cities,  people fortunate enough to have the means left for homes they owned in the suburbs or rented one.

 That's quite the solution in the middle of a pandemic. This has also sparked a surge in home buying in suburban areas across the country and away from dense metros.

However, there are still lots of people throughout the country who are eager in to buy real estate in the city.  In California, the Orange County Register discovered a 5.2% home price drop versus 2019 – the largest drop since 2009. Based on a report by Curbed, this is the same decrease with what's occurring throughout the country; CoreLogic, a real estate data company, forecasts a 6.6% year over year price decline across the United States by May 2021.

Current Orange County data is as follows:
3,450 new and existing homes sold — an increase of 6.7% in a year. In the first 8 months of 2020, 16,917 purchases were closed, a reduction of 9.4% vs. 2019.

• $775,000 median selling price in Orange County — increase of 6.3% going back 12 months. The current median home price trumps the record of $765,000 made in June 2020. The only month this year a price record wasn't set was in May.

Home buyers are motivated by historically low mortgage rates. Southern California’s median price made a record high, as well.

Existing single-family houses: 2,312 sold, an increase of 7.8% in a year. Median price of $862,000 — a 7.7% rise over 12 months.

Existing condos: 918 sales, an increase of 5.9% over 12 months. Median price of $545,000 — an 8.5% rise in a year.

Newly built: Builders sold 220 new homes, a decline of 0.5% in a year. Median prices of $972,500 — a 9% rise over 12 months.

Possible Orange County Back to School Recommendations

Parents/Guardians of Students in Orange County Public Schools,

The CDC has  posted the following on their website concerning school reopenings.
Parents are not surprisingly worried about the safety of their children at school in the aftermath of COVID-19.  The best available evidence indicates if children become infected, they are a lot less likely to suffer severe symptoms.[1],[2],[3] Death rates among school-aged children are much lower than among adults. 

However, the health-related risks attributed to closed schools include lower rates of immunizations, higher rates of undetected child abuse and neglect, social, emotional, and behavioral health, economic well-being, and academic achievement of children, in both the short- and long-term, are well-known and significant. 

Moreover, the lack of in-person educational options disproportionately harms low-income and minority children and those living with disabilities.  The students in this category are a great deal less likely to be able to obtain private teaching and care.

Governor Gavin Newsom had given his school reopening rules but also noted that there are exemptions.
In a statement, Governor Gavin Newsom’s office noted that “There is a single exception. Local health officers may grant a waiver to allow elementary schools to reopen in-person instruction if the waiver is requested by the district superintendent, in consultation with labor, parents and community-based organizations.

When considering a waiver request, the local health officer must consider local data and consult with the California Department of Public Health."As part of the planning process, we gathered feedback from families about their preferred way to return to school. A survey completed in mid-June showed that 43% of parents prefer a return to in-person instruction; 34% prefer 100% digital learning; and 23% prefer an option that combines in-person instruction with digital learning.


If you have the choice for your student(s), please think carefully about what digital learning and in-person instruction will be like, and which might best for your child(ren). Review the information below

IN PERSON OPTION
What to expect at school…
•    Families should take temperatures daily before going to school. Anyone with a fever of 100.4 F or higher should not go to school. Students and adults also be screen themselves for breathing disorders like a cough and shortness of breath before going to school every day.
•    Periodic screenings, including unannounced temperature checks, will be performed. Students and staff with COVID-19 symptoms or a temperature of 100.4+ will be quarantined immediately and sent home.
•    All students and employees must stay home if they have COVID-19 symptoms, tested positive, or had close contact with a person with COVID-19 within the last 14 days.
•    Frequent hand washing and bringing hand sanitizer from home is recommended.
•    Cleaning/disinfecting of surfaces, frequently-touch objects, and facilities will be carried out more often.
•    Buses will be cleaned/disinfected after morning/afternoon routes.
•    The use of masks will be required. However, the wearing of masks will not be enforced for those who can't.
•    Students are discouraged from sharing books, materials, supplies, or equipment, including devices and equipment used for athletics/PE.
•    Water fountains will be sealed. Students are encouraged to bring water from home.

 DIGITAL LEARNING OPTION
•    Students who are in digital learning will have the same expectations as those attending in-school in terms of attendance, grading, and participation.
•    In general, digital learning will follow the same teaching hours as the in-person school day.

•    Students will need to have dependable internet and devices. Sharing a device is not advised since multiple students in a family would have digital lessons at the same time during the school day.

References

 1.   Zhen-Dong Y, Gao-Jun Z, Run-Ming J, et al. Clinical and transmission dynamics characteristics of 406 children with coronavirus disease 2019 in China: A review [published online ahead of print, 2020 Apr 28]. J Infect. 2020;S0163-4453(20)30241-3. doi:10.1016/j.jinf.2020.04.030
2.    Choi S-H, Kim HW, Kang J-M, et al. Epidemiology and clinical features of coronavirus disease 2019 in children. Clinical and experimental pediatrics 2020;63(4):125-32. doi: https://dx.doi.org/10.3345/cep.2020.00535external icon
 3.   Coronavirus Disease 2019 in Children — United States, February 12–April 2, 2020. Morb Mortal Wkly Rep. 2020;69:422–426.

Homes for Sale in Orange County under $700,000

Some of the most affordable Orange County cities are Anaheim, Garden Grove, Buena Park,  Fullerton, Westminster, and Rancho Santa Margarita. Each of these cities are located in North OC, except for Rancho Santa Margarita.

Rancho Santa Margarita is located in South Orange County and has a population of 48,792.  RSM was officially incorporated on 1 January 2000 and is regarded as one of the best places to live in California. The city is mainly residential yet has convenient access to shopping in nearby Tustin and Laguna Hills as well as the job hub of Irvine a little farther north.

Most of the home styles have a Spanish theme with red tile roofs on single family homes or apartment buildings.  Dove Canyon, Robinson Ranch, and Rancho Cielo are the pristine and popular communities. Dove Canyon is most expensive neighborhood in RSM, where homes sell for roughly 1.5 million

The schools of RSM have half of them in Saddleback Valley Unified School District (SVUSD) and the other half in Capistrano Unified School District  CUSD (same school districts as Mission Viejo).

A lot of Rancho Santa Margarita's communities have a "Supplemental Fee" called Mello Roos. It is similar to a property tax, and is added to the semi-annual tax bill. An overwhelming majority of RSM homes come with Mello Roos fees.

Southern California's Housing Market Facing a Formiddable Challenge

The Southern California housing market was firing on all cylinders since the beginning of 2020, helped by low interest rates and a thriving economy.

Then the Covid-19 virus came to the US and globally. We are in a pandemic with the media reporting case counts and deaths 24/7. As a result of the fears people see all day and forced to shut down non-essential businesses in the economy, deals and escrows are being canceled. Sellers are slashing prices. Specific types of mortgage programs have been suspended until further notice.

A California Assn. of Realtors survey from early March revealed that  25 percent of agents had clients reconsider their plans to buy or sell due to the sudden eruption of the coronavirus.

A second survey was performed a week later: The agents working said the sellers who are delaying their plans had surged to 45 percent; over fifty percent had a buyer who put their plans on hold.

After that what made real estate matters worse, was the stay-at-home order issued by Gov. Gavin Newsome. Many agents said referrals for new purchases became nonexistent. Many identify the change to right around the time of the order.

Without question, the deterioration to the real estate market will be determined by how long the virus remains and how much economic pain it creates both through deaths and preventative measures for future viruses.

The sellers holding off may be a good things as they optimistically see this as a temporary crisis. It will certainly be interesting to see if pricing power drops once the epidemic subsides. 

At the time of the 2003 SARS virus that went on for several months in Hong Kong, Zillow's research shows the city's housing market was basically suspended. Home prices didn't drop very much, while sales volume fell like a brick as people stayed a safe distance from each other in an effort to save lives.  Once the epidemic ran its course, sales volume quickly returned to typical levels.

It's worth noting that the SARS virus was only responsible for the deaths of 774 people globally. The people who've died from COVID-19, has already exceeded 2,000 in the United States alone and 30,000 worldwide as of March 29, 2020.

Los Angeles Mayor Eric Garcetti has said the city could soon experience the levels of cases erupting now in New York. Newsom has announced that more than 1 million Californians have applied for unemployment benefits this month.

Zillow said the number of new listings now coming onto the market each day in Los Angeles and Orange counties is about 30% below what it was a year ago. That compares with a 4% decline at the beginning of the month.

Is Tustin a Safe Place to Buy a Home?

Is Tustin safe, is a legitimate question as Tustin, California is directly adjacent to one of the safest cities in the U.S. in Irvine.  If you are looking to buy real estate in Orange County, your quality of life and neighborhood are important. This is usually an important factor for young families and and single women living in the area.



Tusin Safety Ratings and Crime Map
In Tustin, California residents are very fortunate to have a crime alert map on Tustinca.org from the Tustin police dept. The information is updated and incidents are detailed, searchable within a .5 mile radius.

Has Tustin Crime been Increasing or Decreasing?
In three out of the last four years, crime per 100,000 in Tustin has declined according to date from the FBI's Crime Reporting Program. The statistics show its significantly less than California and the U.S. by 2.5- to 3- times.

The population of Tustin has not declined nor increased dramatically on the last five years. The percentage change is less than one-percent upward.  Thus, the crime data has been pretty consistent in reporting.

The big answer to prospective residents is yes overall crime has decreased but the one category of crime, theft, has risen. The good thing is violent crimes have not increased. They have declined each year. 

Is Tustin Safe when put next to other U.S. cities?
According to Area Vibes and other sources, Tustin has lower than average violent crime rates per population and higher than average non-violent crime rates (or property crimes) per population than the rest of the country. Or in other words, Tustin is fairly common in regards to criminal offenses but with more reported theft and vandalism, and less murders and physical assaults than in other cities.

Is Tustin Safe Overall?
With all the information in this article it should have answered any questions conclusively for you based on the excellent data the city of Tustin provides the public. You can easily notice a significant majority of Tustin neighborhoods have amazingly low crime rates except for property theft.

The city of Tustin is quite safe when held up against any other suitably sized U.S. city but like any other sizable city in America it will have portions that are more prone to crime than others.

In Tustin, violent crimes decreased from 132 in 2017 to 122 in 2018, and property crimes were down from 1949 in 2017 to 1,874 in 2018.

FBI officials warned against using the statistics to draw direct conclusions about whether a specific city is safe or not. They cautioned against simplistic analyses to create misleading perceptions, reporting that doing so could "adversely affect communities and their residents."

Ways to Make Your Home Pet-friendly

Renters and homeowners absolutely love their pets. Based on a recent study by the American Pet Products Association (APPA),  roughly 85 million Americans have a pet.  That is almost one in three people. can call themselves pet owners.

It shouldn't come as a surprise that the pet industry rakes in nearly $75 billion annually from consumers. In addition to pet food and veterinary medical treatments,  a great deal of cleaning products are bought to get rid of those predictable messes and, in some cases, damage to curtains, furniture, rugs, walls, artwork, and so on.

It can be difficult to keep a home attractive to neighbors and guests when you have a pet that pretty much lives a majority of their life inside the house.  Let's review three parts of your home's interior that can make a room appear more modern yet still meet the needs of your best friend with paws.

Walls
While the home has your name as the owner or renter, it's shared with your dog or cat and he (or she) lets everyone know without hesitation here they like to be. They do this by "tagging" it – from lying down in a specific spot, urinating, or rubbing their fur against an object to leaving behind their smell.

Within your home, their territorial behavior becomes evident on the walls. As humans we tend to bathe more frequently than a pet. The result is their skin oil, saliva, fur, and the other grime is smudged on walls and baseboards.

A quality flat paint brand can make the wall easily scrubbed, while still giving you the style and color options you want.  A highly regarded interior paint by home improvement editors is Benjamin Moore Regal Select Interior (a combination of paint and primer). Yes, it is expensive, but worth very penny if you own pets.  A great interior flat latex paint that is scrubbable is Sherwin-Williams Showcase® Stain-Blocking Paint and Primer. Satin paints are also beneficial.

Flooring
As a pet owner, especially dogs, and trying to decide what floor type to use can be a dilemma. No matter which one you decide, it has to be tough enough to prevent scratch marks from dogs, quick to clean up those "messes" and yet still be visually attractive.

Dog owners should stay way from choosing carpeted, laminate, cork and linoleum flooring. Linoleum and cork floors easily susceptible to scratching from paws even if the manufacturers says otherwise. Moreover, warping happens too.  Give some thought to having concrete, stone, tile or vinyl floors as your best options.  If you must use carpet, try the one from Mohawk.

Fabrics
Anyone who is a cat or dog owner understands their pets enjoy scratching and playing with stuff that is not pet-related (or friendly). It could be the sofa, the curtains, the bedspread, or clothes hanging in the closet, cats will claw at whatever is nearby to establish their area and dog will pee in a place.

Interior designers recommend smooth fabrics, along the lines of leather or something with a flat weave, canvas, denim, and man-made microfiber that your cat is unable to sink their claws into.

You can also opt for durable, water-resistant cover, slip cover or duvet. Fabrics such as silk, velvet, velour, or chintz, are not good choices with a furry pet in the home.  Another guidelines is for the color of your pet. Get the same color big furniture items to hide pet furs.

Kitchen

If you want to keep your furry pet limited to one section of your home—like, for example, if you were cooking in the kitchen, and want your dog to stay out—a dog gate may make things easier on you.
If you need more ideas, just search for stylish, pet-friendly rooms.

Windows
If you have a blinds, don't forget to keep them raised before leaving so the little darlings can look out the window and of course don't accidentally make them fall down.

How to Identify a Walkable Orange County Neighborhood

Summary: Before you buy or rent learn if a place is pedestrian-friendly with these helpful internet-based and physical methods.

A community which offers great stores, service businesses, and recreation within walking distance and near your job is a huge plus for most home buyers. Residents label this as being walkable.  Apart from a walkable community's convenience, they are also more green friendly and create a feeling of being tight-knit.


So, for example, in Laguna Beach's Village neighborhood, 84% of residents claim it to be walkable to restaurants, and only 42% say it is bike friendly.

A neighborhood is truly walkable when you can enter and  exit easily without needing a car. Research reveals that the closer you are to public transit systems (bus, train, biking), the more prone you are to walking.

Check out what locals say about a neighborhood on Neighborhoods.com, NeighborhoodScout.com and Trulia.

    It's walkable to cafe's and grocery stores
    Is it walkable to eateries
    There are sidewalks
    People feel safe walking alone at night
    Do the streets have good lighting
    Do they say an automobile is necessary


Check out local restaurants.
To know if you can easily go out for some food, check out Yelp Maps near the area you want to live. That'll provide you with a sense of the number of restaurants within walking distance. And don't forget that the more restaurants that are nearby, the higher chances your neighbors will there too.

Do a virtual walk
Prior to taking a walk in your potential new neighborhood, type in an address on Google Maps and go to "Street View" to take a look at it online.  For any property you are considering buying or renting, usually you'll see a link to a map near the listing.

By doing this it will give you a good idea of what's close by. Keep in mind you don't know what time of day (or year) the images were taken. A quiet-looking street could be that way 2 to 5 years ago on a street at 8 a.m. on a cold Saturday in December.

However, that same block today may have new neighbors, families, on-street parking restrictions, and more.  Therefore, it's smart to do a physical visit during different times of the day.  Visit the neighborhood in the evenings, on weekends, and also during the middle of a weekday.

Check for the following:
    Wide sidewalks. These are important so pedestrians can feel safe walking around.
    Trees near the sidewalks invite local residents to walk versus using their car to get around.
    Benches, picnic tables, and other places to sit and rest are positives.
    Intersections that have crosswalks and pedestrian signals.
    Ample street lighting. This considers safety for pedestrians.