What’s Happening with the Central Valley Market?

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Today, we’re here with a brief market update in the Central Valley market. Compared to last year, inventory is incredibly low. There aren’t many choices for buyers right now, so the good homes that come on the market get snapped up right away.

Why are there still so many buyers on the market, then, if there aren’t any homes available? Interest rates are historically low. At the end of 2015, the Fed raised their rate by 0.25% However, in our market rates are at 3.75% for a 30-year fixed mortgage, and buyers want to take advantage of these phenomenally low rates.

If you’re interested in selling, we need new listings to come on the market. We have pre-approved buyers waiting in the wings. The market is on fire right now thanks to these buyers, but they need more options. That’s why it’s an opportune time if you’ve been thinking about selling your home.

If you have any questions, give us a call or send us an email. We would be happy to help you!

How to Aggressively Pay Down Your Mortgage

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Today’s topic is all about paying off your mortgage aggressively. We’ve got some great tips for you today that will help you pay down that mortgage at a much faster rate. These are simple tips, but will greatly shorten the length of your loan and therefore, cut down on a lot of interest.

1. Make a 13th payment.

Making just one extra payment per year is a great idea. Making that 13th payment can cut the length of your mortgage by up to 7 years!

2. Round your payment up.

Rounding your monthly payment up to the nearest $100 increment is inexpensive and smart. Let’s say your payment was $1440. Paying that extra $60 to make it $1500 will accelerate paying off your balance and it probably won’t affect your budget.

3. Utilize funds from smaller balances as you pay them off.

Imagine you have a credit card with $3,000 on it and you’ve been paying it down by $200 monthly increments. Once that balance is gone, you can add that same $200 back into your mortgage without it affecting your budget at all.

4. Use the refund from your impound account and apply that to your balance.

We hope these tips help you pay down your mortgage faster. If you have any questions, or want some advice on paying down your mortgage, give us a call or send us an email. We are here to help!

Heavy Rains Are Coming, Is Your Home Prepared?

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We’ve been hearing a lot about El Nino lately, and how it’s going to hit us much harder than it has in the past due to the historic drought earlier this year. Today we want to give you some of our tips on how you can make sure you and your home are protected from the heavy rainfall. Here’s what you need to do to get ready:

• Check for and fix any leaks before it starts raining. The constant dry heat may have caused certain structures to shrink and there may be holes where water can seep through.
• Contact your roofer to have them check your roof and make sure everything is okay and there is no potential for leaks.
• Clean out your gutters and downspouts to make sure they are working properly.
• Invest in a portable generator. You’ll be happy you invested in this if and when the power goes out in your neighborhood.
• Paint and seal your eaves to prevent any dry rot damage.
• Look at any decks and balconies to make sure they slope away from the home to avoid flooding.

These are just a few of the things you can do to prepare for El Nino. If you have any questions for us, feel free to give us a call or send us an email. We look forward to speaking with you!