The Homeys' Real Estate Podcast

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Hey homeys! This podcast is for you. We cover a collection of stories, experiences, advice, tips, trends and analytics and more related to the real estate market. We also bring on guests and experts to enlighten us or maybe just tell us some of their cr

The Luevanos Group


    • Oct 5, 2022 LATEST EPISODE
    • weekly NEW EPISODES
    • 18m AVG DURATION
    • 92 EPISODES


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    Latest episodes from The Homeys' Real Estate Podcast

    Podcast - 096: Los Angeles real estate market update | Recap through September 2022

    Play Episode Listen Later Oct 5, 2022 22:46


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the Los Angeles County real estate market through September 2022.The Los Angeles County real estate market is heading towards a balanced market.The median sales price increased from $840,000 in August to $845,000 in September. The median sales price in the last 12 months is up $25,000 and 3%.However, the median price per square foot decreased to $570. Since last August, the median price per square foot jumped $20 and 3.6%.The number of homes for sale has increased slightly but is still down 5.4% since last year.Inventory months supply increased to 2.6 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market increased to 21 days, up significantly from our year low of nine days.Prices increased slightly, but all other indications demonstrate that we are heading into a balanced market. Rising interest rates have suppressed buyer demand leading to homes sitting longer and price reductions. Sellers helping buyers with closing costs, and interest rate buydowns are becoming increasingly popular.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 095: Are solar panels worth it?

    Play Episode Listen Later Sep 23, 2022 24:23


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos touch on solar panels. They interview Solar Specialist Gandhi from Echelon Solar. Echelon Solar helps about 1,000 homeowners a year save money with solar panels.What are solar panels, and how do they work? Solar panels attract sunlight and convert that into electricity. Typically leads to day one savings of about 50% depending on the solar system size.Why should someone get solar panels? In the last six years, utility companies have increased their cost anywhere between 8-15% per year.If your home qualifies for solar, you can generate about 50% savings without paying out-of-pocket to set up your solar system. You are essentially price-protecting yourself from high utility rate increases.Is my home right for solar panels? First, you should schedule a solar consultation to see if the savings make sense to get solar.90% of the time, it will make sense. Then an engineer will be sent to your property to inspect the roof and electrical and see if the home is suitable for solar. How much does solar cost? Every home is going to be different. It all depends on the size of the system and the sun hours they generate. A typical solar system in California costs between $25,000 to $35,000.Many people are going solar with zero out-of-pocket dollars, and their monthly payments will be about 50% lower than their current bill.So if your current electricity bill is $200 monthly, expect to pay $100 monthly with solar.What is the best way to pay for solar panels? For most people, a Power Purchase Agreement or Bill-swap program makes sense.So rather than owning and financing the solar system for 25 years, many people elect the bill-swap program and pay monthly for the solar system output on their roof.There tend to be more savings this way than going the ownership route.What are the two recommended ways to get solar? Ownership: Typically, if a client owns a system, they will pay off the system before selling and increase the cost of the home. Power Purchase Agreement or bill-swap: Has a 100% transferability rate when you sell the property, and there is no lien.How long do solar panels last? Solar panels will last well over three decades. In 20 years, expect about 86% to 92% of year-one output, depending on how you build the solar system.Do solar panels come with a warranty? Yes, many solar panels do come with a 25-year warranty. At Echelon Solar they will service, maintain, monitor, and warrant the system over the next 25 years.

    Podcast - 094: ADUs are the future of real estate

    Play Episode Listen Later Sep 11, 2022 27:21


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover everything ADUs. They interview ADU Specialist Eric Escobar.What is an ADU? An accessory dwelling unit is a secondary housing unit on a single-family residential lot.Usually consist of a garage conversion but can also be a new build in your backyard.Why do people build ADUs? Most people build ADUs because of affordability. Dollar-for-dollar makes the most sense. A two-bedroom, two-bathroom ADU will cost you roughly $200,000. Where can you find a home that prices in Los Angeles County?Frequently, people build an ADU for their elderly parents.Can I build an ADU on my property? How big can I make my ADU? Most single-family residences or multi-family properties will qualify. If you have a home in a commercial zone, then it will be more complicated to build.The state law is 1,200 square feet. However, many cities have subordinances that limit the size to 1,000 or 800 square feet.How much does an ADU cost? A garage conversion is about $100,000 to $120,000 for a two-car garage.A new build two-bedroom, one-bathroom, 700 sqft ADU will cost about $200,000.How do people pay for an ADU? Most people pay for an ADU with a cash-out refinance or a home equity line of credit.Only about 20% of people pay cash.If you have at least 30% equity in your home, you may want to consider using some of it to build an ADU.Is an ADU a good investment? ADUs can be priceless! Where else can you affordably put your family or your parents in housing?Investment-wise, the rent you generate from the ADU is almost always higher than the monthly payment to build the ADU. So yes, it's an excellent vehicle for cash flowing immediately.ADUs also increase the home's value, and as more ADUs are built, their value will continue to increase because there will be more comparable sales. In Seattle, for instance, ADUs are valued almost at the same cost as the house.

    Podcast - 093: Orange County real estate market update | Recap through August 2022

    Play Episode Listen Later Sep 8, 2022 16:55


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos touch cover the Orange County real estate market through August 2022.The Orange County housing market is continuing to cool off.The median sales price increased from $972,500 in July to $984,000 in August. The median sales price in the last 12 months is up $84,000 and 9.3%.However, the median price per square foot also decreased to $588. Since last June, the median price per square foot jumped by $59 and 5.9%.The number of homes for sale has decreased slightly, but we now have 23.3% more than we saw at the same time last year. However, we still have about 30% less than we saw from 2017 to 2019.Inventory months supply increased to 2.2 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.The median days on the market skyrocketed from eight days last month to 16 days.The once-hot Orange County real estate market is cooling quickly. Increasing interest rates dampened buyer demand. Finally, buyers will have the leverage to negotiate better terms. After a solid start to the year, we can anticipate prices to cool off around this price point.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends#orangecounty #ocrealestate #ocrealestatemarket #orangecountyrealestatemarket #ochomes #realestatemarket

    Podcast - 092: Los Angeles real estate market update | Recap through August 2022

    Play Episode Listen Later Sep 4, 2022 19:29


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the Los Angeles real estate market as of September 2022. The Los Angeles County housing market continues its downward slip.The median sales price declined from $862,000 in July to $840,000 in August. The median sales price in the last 12 months is up $20,000 and 1.6%.The median price per square foot also decreased to $583. Since last August, the median price per square foot jumped $34 and 6.2%.The number of homes for sale has increased but is still down 6.1% since last year.Inventory months supply increased to 2.5 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market increased to 16 days, seven days more than our fastest on record.This is the fourth consecutive month that sales prices dropped. Increasing interest rates have suppressed buyer demand leading to homes sitting longer and price reductions. Sellers helping buyers with closing costs and interest rate buydowns are becoming increasingly popular.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 091: Staging in a changing market is crucial if you want to sell your home for more!

    Play Episode Listen Later Aug 25, 2022 21:49


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos touch on home staging. They interview Joanna Segoviano, home staging mogul and top 10 stager nationally, about the importance of home staging, especially in a changing real estate market.Does home staging work? A properly staged home helps buyers envision their lives in a new property and helps sellers get their property off the market quicker. According to US Today, a review of over 2,800 properties in 8 cities found that “staged homes” sold in half the time that non-staged homes did. The sellers with staged homes ended up with 6.3% more than their asking price on average. How do I know if I need home staging?Home staging is needed for every property that hits the market, ESPECIALLY as we enter a market shift... In particular, you need home staging if:- You want to sell fast- You want to get more money- Suppose your property has areas, corners, and rooms that may be difficult for a buyer to visualize when walking through. According to the National Association of Realtors, 81% of buyers find it easier to visualize a property as a future home when staged. - If the property has minor imperfections, I suggest home staging. For example, if the property has stains on the carpet or an outdated kitchen or bathroom, staging the home will allow you to disguise the flaws. According to the National Association of Realtors, nearly a third of buyers (27%) are willing to overlook faults in a staged home.What is the cost of home staging?Depending on the square footage of your home and location, a basic staging package can start at around $3,200. The basic package includes staging the kitchen, living room, dining room, and primary bedroom. According to the National Association of Realtors, those four areas are the key rooms to stage. Why is this the perfect market to stage your home?The market is changing, we see price reductions, and homes take longer to sell. In this real estate market, selling your home quickly is crucial to net the most.Staging a home costs less than a price reduction! Before you make a price reduction, consider staging.

    Podcast - 090: The history of mortgage rates and why current rates aren't as high as it seems

    Play Episode Listen Later Aug 17, 2022 24:01


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the history of mortgage rates since 1970. They bring on buyers agent extraordinaire Alejandro Medina. This podcast is in a quiz format.To view it on youtube, click here: https://www.youtube.com/c/theluevanosgroup

    Podcast - 089: August Consumer Price Index and it's impact on rent, housing, and mortgage rates

    Play Episode Listen Later Aug 16, 2022 19:17


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the most recent Consumer Price Index and its impact on rent, housing, and mortgage rates. The consumer price index came in at 8.5% through July, which was lower than the expectation of 8.7%! In June, we had a 9.1% reading, which signals we may have hit our inflation peak last month!The Federal Reserve has raised rates aggressively recently, with a 0.75% hike in June and July. However, at the same time, mortgage rates have slowly begun to decrease. Mortgage rates peaked in early June, hitting over 6% but have since reduced to the low 5%.Therefore, there is an opportunity for buyers to lock in rates on the lower end if they are in close contact with their lenders and aware of the volatility.Rents increased 0.7% since last month; meanwhile, Southern California just saw its most significant price drop in years. With less buyer demand, homes sitting on the market longer, and prices decreasing, sellers are becoming more and more willing to negotiate.We haven't seen a better time to negotiate buyer terms in years.Trying to time a real estate bottom or stock market bottom is nearly impossible. If you plan to hold on to your property for at least ten years, your home value will likely double regardless of when you buy it.Southern California has reliable home appreciation; it just takes 7% annual appreciation to see home values double in ten years. The Los Angeles County median sales price was $325,000 in July 2012; in July 2022, it's now $850,000.Since 2017, Los Angeles County home appreciation has been 8.71%*using a rolling 12-month average*we cannot guarantee future home values

    Podcast - 088: Orange County real estate market update | Recap through July 2022

    Play Episode Listen Later Aug 8, 2022 21:21


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the Orange County real estate market.The Orange County housing market is really starting to cool off!The median sales price decreased from $1,000,000 in June to $975,000 in July. The median sales price in the last 12 months is up $60,000 and 7.7%.The median price per square foot also decreased to $602. Since last June, the median price per square foot jumped by $80 and 15.3%.The number of homes for sale has increased drastically, and we now have 25.2% more than we saw at the same time last year. However, we still have about 30% less than we saw from 2017 to 2019.Inventory months supply increased to 2.2 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.The median days on the market skyrocketed from eight days last month to 14 days.The once-hot Orange County real estate market is cooling quickly. Increasing interest rates dampened buyer demand. Finally, buyers will have the leverage to negotiate better terms. After a solid start to the year, we can anticipate prices to cool off around this price point.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 087: Los Angeles real estate market update | Recap through July 2022

    Play Episode Listen Later Aug 4, 2022 20:10


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the Los Angeles County real estate market.Home prices dropped big. Homebuyers now have some leverage!The median sales price declined from $895,000 in June to $862,000 in July. The median sales price in the last 12 months is up $37,000 and 4.5%.The median price per square foot also decreased to $581. Since last July, the median price per square foot jumped $44 and 8%.The number of homes for sale has increased but is still down 6.4% since last year.Inventory months supply increased to 2.5 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market increased to 13 days, four days more than our lowest on record.We took our most significant stride yet into a balanced market. Increasing interest rates have suppressed our buyer demand. Buyers now have the leverage to ask for better terms. We are still in a seller's market, but sellers and buyers shall work together to make it a win-win.

    Podcast - 086: Why everyone should have a declared homestead

    Play Episode Listen Later Jul 27, 2022 17:06


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos interview Jorge Mesa from Pacific Coast Title. They cover automatic homesteads, declared homesteads, and why it's imperative to have both!Homesteads protect the equity you have in your home from being taken away if you get sued. It makes it much more challenging to force the sale of your home.In California, automatic homesteads are created automatically if you live in the home you own, and it offers some protection.You must file for a Declared homestead. Declared homesteads provide an extra layer of protection for up to $600,000 for a married couple or $300,000 for a single individual.Beware that homesteads do not protect you against everything, including:- Foreclosure of your home if you miss payments- A mechanics lien, if filed by an unpaid contractor, subcontractor, laborer, or material supplier- A judgment for spousal or child supportHere's how to file a declared homestead:1. Download this form here or visit the Registrar-Recorder's website2. Fill out the form3. Have the form notarizedHomesteads usually cost about $120, and you can have your realtor, lender, or title rep help you complete the form if you have questions.Everyone should have a declared homestead! If you do not have one, please let us know, and we'll help you complete it. It takes a few minutes and can save you up to $600,000!

    Podcast - 085: The housing market is decelerating, but not depreciating

    Play Episode Listen Later Jul 20, 2022 21:20


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover inflation, mortgage rates, buyer demand, home prices, and housing market projections for 2022.Inflation rose to 9.1% in June, and core inflation (excluding volatile food and energy prices) increased to 5.9%. ​​“Until inflation peaks, mortgage rates won't either. Without improvement on the inflation front, we don't know where the interest rate ceiling will be.” - Greg McBride, Chief Financial Analyst at BankrateThe average interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 5.82%. One year ago, that rate was 3.11%.With interest rates increasing, mortgage demand is falling. According to the Mortgage Bankers Association, it currently sits at its lowest level since 2000.Southern California just experienced its first median sales price drop from May to June since 2010. Yet, the price still soared from June 2021 at $679,000 to $750,000 this year. Although buyer demand is dropping, we simply have too much demand compared to our current supply. That's why experts are not calling for prices to decline. Instead, they're forecasting they'll continue to climb, just at a moderate pace this year. On average, homes are projected to appreciate about 8.5% in 2022The housing market is decelerating but not depreciating. Home prices will likely increase moving forward on a year-over-year basis, but just at a slower rate.If anyone is looking to purchase a home and qualifies, this may be the best time we have seen in two years. The buyer frenzy is over, and the opportunity to get into a home is much easier.

    Podcast - 084: Home Appreciation in Los Angeles County and how it impacts you!

    Play Episode Listen Later Jul 13, 2022 25:40


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos explain what home appreciation is and how you can leverage this when purchasing your next home.“Home appreciation relates to a house or investment property increasing in value over a period of time. A raised value of a property can lead to the owner making a profit upon selling it or earning more income through monthly rent from their tenants. Increasing home value also leads to more equity in the home” - Rocket MortgageSince 1891, home price appreciation nationally has been about 3.5%, but that doesn't mean you can expect that for your city. Let's look at the appreciation rate for Los Angeles County:Since 1990, the appreciation rate for single-family homes has been roughly 4.6% annuallyIn the last ten years, the appreciation rate has been roughly 9.53% annuallyIn the last five years, the appreciation rate has been roughly 8.71% annuallySo we can see that appreciation in Los Angeles County is much higher than the norm of 3.5% annually. Yet, within this are the appreciation rate for individual cities, which also vary. Let's look at two examples:Culver City: five-year appreciation rate is 6.14% annuallyCompton: five-year appreciation rate is 10.93% annuallySee, one is well over the 8.71% Los Angeles County appreciation rate; the other is well under. You'll notice that the appreciation rate is lower where home prices are higher. It's not the case in every scenario, but it usually works out for most cities.So how can you use this data to help you?Appreciation is a crucial dictator if you are looking for a sound investment that will build value over time. Especially if you plan to cash-out refinance and use the equity towards another purchase to build your portfolio, or if you are buying your primary residence with less than 20% down, this will help you figure out your timeline for getting to 20%. If you aren't receiving personalized market updates, sign up here: https://theluevanosgroup.com/homey

    Podcast - 083: Orange County real estate market update | Recap through June 2022

    Play Episode Listen Later Jul 9, 2022 15:40


    Realtor Anthony Luevanos and lender Angel Luevanos cover the Los Angeles real estate market in this episode. Home prices in Orange County dropped big time!Home prices in Orange County just had their largest one-month decrease in 10 years!The median sales price decreased from $1,050,000 in May to $1,000,000 in June. The median sales price in the last 12 months is up $95,000 and 10.5%.The median price per square foot also decreased to $615. Since last June, the median price per square foot jumped by $100 and 19.4%.The number of homes for sale has increased but is now 20% more than we saw at the same time last year. However, we still have about 40% less than we saw from 2017 to 2019.Inventory months supply increased to 2 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.The median days on the market is just eight days.Finally, the Orange County real estate market has given buyers some good news. Increasing interest rates increase has started to dampen buyer demand. After a strong start to the year, it seems like we can anticipate prices to cool off a bit more or plateau around this price point.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 082: Los Angeles real estate market update | Recap through June 2022

    Play Episode Listen Later Jul 6, 2022 17:05


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the Los Angeles real estate market. Home prices in Los Angeles County finally cooled off.The median sales price declined from $900,000 in May to $890,000 in June. The median sales price in the last 12 months is up $55,000 and 6.6%.The median price per square foot also decreased to $610. Since last June, the median price per square foot jumped $62 and 11.3%.The number of homes for sale has increased but is still down 9.1% since last year.Inventory months supply increased to 2.2 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market increased to 11 days, two days more than our lowest on record.We are slowly moving into a more balanced market. Increasing interest rates have suppressed our record buyer demand. The days where 20+ offers on a home well over asking are behind us. However, we are still far from seeing the market flip.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 081: Why a transaction coordinator is important in making sure your transaction goes smoothly

    Play Episode Listen Later Jun 29, 2022 18:27


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos touch on transaction coordinators and why they play a vital role in keeping the transaction are stress-free as possible. They interviewed April Baray, the owner of Baray Transaction Coordinators, who also shares a story of how she was able to help a client save over $15,000 even though her client removed all their contingencies.What is a transaction coordinator?A TC manages the real estate contracts and disclosures. They are responsible for ensuring that all documents are fully completed and in compliance with the California Department of Real Estate. The Top 5 Benefits of Hiring a Real Estate Transaction Coordinator- TC's help agents take their business to the next level- TC's handle the time-consuming tasks- TC's can be your bridge to all parties in your transaction- TC's serve as your advocate- TC's keep everything organized and on trackTransaction Coordination: Should You Hire In-house or Outsource? This depends on the realtor or client and what they are looking for in a transaction coordinator. Often, the in-house transaction coordinator is limited to what the brokerage requires. Whereas, if you need a more hands-on transaction coordinator to alleviate more of your time, then seeking one outside the brokerage may benefit you.How to find the right Transaction Coordinator for you? - Check with your colleagues and ask them to refer their preferred TCs- Google and Yelps reviews- Ask your broker- Ask for recommendationsThe top 5 things you should be looking for in a Transaction Coordinator- Highly driven and self-motivated- Strong work ethic- Leadership skills and will to take initiative- Integrity- Positive attitudeHow to get the best out of your Transaction Coordinator- Clear and concise communication- Recognizing team values and goals- Ability to let your TC take initiative - Positive affirmations- Feedback is essentialHow much does it cost to have a transaction coordinator, and who pays for it?It depends on the scope of work the agent is looking for—some TC's offer different packages variating from a few hundred dollars up to $1,000 per transaction.The client or the realtor usually pays for this fee. The fee is often paid through escrow only once the transaction is closed.

    Podcast - 080: Everything you need to know about homeowners insurance

    Play Episode Listen Later Jun 22, 2022 19:55


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos touch on homeowners insurance. They interviewed Farmers Insurance agency owner Bridgette Martinez. She even shares the story of how one of her clients was sued for $1,000,000 and what you can do to protect yourself from that liability!Is homeowners insurance required?No, homeowners insurance is not required unless you are financing your home. Most banks will need homeowner's insurance to finance your loan.However, we recommend getting a policy even if your home is paid off.What kind of homeowners insurance do I need?There is no such thing as basic insurance. Every home insurance policy covers fire, wind, hail, and storm. You can add additional endorsements, such as personal property, liability, etc.How much homeowners insurance do I need?Homeowner's insurance covers based on reconstruction cost, not the home's fair market value. It's based on rebuilding the dwelling to its current like condition if there was a loss to the property.Most policies come packaged with additional protections such as personal property and liability. Your insurance agent will help you decide what's best for you based on your circumstances.When do I need to get homeowners insurance?As soon as you open escrow, you should start looking for insurance. We recommend talking to a few agents and figuring out which policy works best for you. Do I need homeowners insurance after I pay off my home?No, you do not need it, but unless you have the funds to pay for the reconstruction of your entire home lying around somewhere, we recommend keeping insurance.The cost of rebuilding a home can run well over $300,000, which most people do not have.What will happen if my home is damaged and I do not have homeowners insurance?You will be liable for out-of-pocket damages if you do not have insurance. Therefore, you must have the appropriate insurance policy with the proper coverage.How much does home insurance cost?No one price fits all. Every home has its unique characteristics and pricing.A typical three-bedroom, two-bathroom home in Los Angeles County ranges between $700 to $1,000 a year. But several factors impact pricing, such as the age of the house and where it is geographically located.

    Podcast - 079: How to purchase your first investment property?

    Play Episode Listen Later Jun 8, 2022 15:22


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos explain how to purchase an investment property, what property management is, and what the benefits of owning investment property are.What requirements do you need to purchase an investment property?- Minimum credit score: 620 but much better with 700+- Minimum down payment: 15%-25% or more- Maximum DTI ratio: 45%- Reserve requirements: 2-6 MonthsAre there higher interest rates for investment properties?Interest rates are typically 1% higher than it is for a primary residence. However, if you'd like to purchase with a lower interest rate, you can purchase owner-occupied financing, live there for a year, then move out afterward and use the property as an investment property.What are the tax benefits of buying an investment property?The mortgage interest on an investment property is fully tax-deductible. You can also deduct many expenses related to the property, including property taxes, maintenance, insurance, utilities, materials and supplies used for the upkeep of the property, advertising the property to attract renters, as well as for depreciation.If you rent out the home for more than 14 days per year, the rental income is taxable.What is property management and how much do they charge?Property management typically charge between 8% and 12% of collected rents and they handle everything including:- Marketing and pricing your property according to the current real estate market- Show the property to potential tenants screen tenants- Collect rent on your behalf and deposit the money into your bank account- Handle tenant complaints- Arrange maintenance and repair work- Pay property-related bills, such as property taxes, utilities, and insuranceWhat are the benefits of purchasing rental properties?- Generate passive income- Investment increases with home appreciation- Real estate values are generally more stable than the stock market.- Rental income is not included as part of your income that's subject to Social Security tax.- You can put real estate into a self-directed IRA (SDIRA).This market is tough, and we understand that. So we made a free eBook to help you. “How to get a good deal in a seller's market” eBook

    Podcast - 078: Orange County real estate market update | Recap through May 2022

    Play Episode Listen Later Jun 6, 2022 15:24


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos break down the Orange County real estate market. Are we heading into a housing market crash?Home prices in Orange County just decreased for the first time in eight months!.The median sales price decreased from $1,060,000 in April to $1,054,500 in May. In the last 12 months, the median sales price is up $154,500 and 17.2%.The median price per square foot also increased to $630. Since last April, the median price per square foot jumped $125 and 24.8%.The number of homes for sale has increased but is slightly more than we saw last year. However, we still have about 50% less than we saw from 2017 to 2019.Inventory months supply increased to just 1.6 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.The median days on the market is just seven days.Overall, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, we are starting to see buyer demand waiver. It is becoming slightly easier for buyers to get their offers accepted.If you would like a more detailed explanation of any of the above data, please reach out to me and I will be more than happy to go over it in more detail.*percentages are comparisons year-over-yearhttps://theluevanosgroup.com/market-trends

    Podcast - 077: Los Angeles real estate market update | Recap through May 2022

    Play Episode Listen Later Jun 3, 2022 15:27


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos break down the Los Angeles County real estate market. Are we heading into a housing market crash? The median sales price remained at $900,000 from April to May. In the last 12 months, the median sales price is up $83,000 and 10.2%.The median price per square foot also increased to $620. Since last May, the median price per square foot jumped $76 and 14%.The number of homes for sale has increased but is still down 20.6% since last year.Inventory months supply increased to just 1.8 months. For your information, 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market remained just nine days, the fastest on record.All in all, we are still in an extreme seller's market. As interest rates increase, we slowly transition into a more balanced market. It seems like the days where 20+ offers on a home well over asking are behind us.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 076: Will home prices fall? Are we heading into a housing market crash?

    Play Episode Listen Later May 25, 2022 18:38


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos explain whether a looming housing market crash is coming. We recommend watching this podcast on youtube so you can see the charts for yourself.Will a recession mean a housing market crash?No, a recession does not always lead to a housing market crash. In fact, of the last six recessions we had, only twice did home prices drop! Here's the data for home price change:1980 - 6.1% increase1981 - 3.5% increase1991 - 1.9% decrease2001 - 6.6% increase2008 - 19.7% decrease 2020 - 6% increaseAre we heading into a buyer's market? Some housing market experts like to compare our current market conditions to the 2008 housing crash. But we simply have a much different market. And in Los Angeles County, the market is even tighter, with 1.5 months of supply of existing homes for sale. That means it would just take 1.5 months for all the houses in the market to be sold if there were no more homes listed. We are talking about 5-6 months in a balanced market, so it's evident we just have way too much demand, given the current supply of homes for sale.Are we in a housing bubble?Here's what we know. Since the 2008 market crash:- Lending standards have tightened drastically, and borrowers' risk has been cut in half- The market is currently undersupplied by 5-6 million homes rather than oversupplied- Most homeowners are more cautious with their equity and have much more of it- In addition, experts predict home prices to continue to appreciate this year in the face of rising interest rates.Are we going to see a wave of foreclosures? We saw less than half the foreclosures in 2020 and 2021 than in any year from 2017 to 2019. And any foreclosures that do hit the market will likely have little impact. Here's why:- Most homeowners have enough equity to sell their homes. ATTOM Data Services also reveals that 41.9% of all mortgaged homes have at least 50% equity. - There are have a lot fewer foreclosures over the past two years.- The current market will absorb any new listings with the lack of supply.Will home prices go down? Across the board, home prices are expected to appreciate. The average of all seven forecasts is 9% appreciation for 2022:Fannie Mae predicts 10.8%Freddie Mac predicts 10.4%CoreLogic predicts 9.6% Home Price Expectancy Survey predicts 9%National Associaton of Realtors predicts 8.4%Zelman predicts 8.3%Mortgage Bankers Association predicts 6.2%Join thousands of homes for personalized market updates, special access to deals and raffles, and a free NFT:https://theluevanosgroup.com/homey

    Podcast - 075: How to find the right lender when purchasing a home?

    Play Episode Listen Later May 18, 2022 28:46


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos explain what you should be looking for when selecting the right lender when purchasing a home.Should you interview to find the right lender? Yes, at least three lenders. Before the interview, look at their Google and Yelp reviews. Ask for recommendations for clients closest to your buyer profile. And remember that the lender with the lowest interest rates is not always the best.If you are shopping rates, keep it under two weeks, so the credit bureau doesn't continue to ding your credit score.What type of lenders are there? (add this title to the caption)There are several types of lenders to consider, each with pros and cons. Some lenders may offer lower interest rates, while others may provide better service and availability around the clock.If you are a first-time homebuyer, maybe looking at a lender who is available and handles less volume may be better so they can dedicate more time to you. If you have purchased multiple homes before and understand the process, maybe the lender with the lowest rate is all you need.Here are the five most popular types of lenders with examples of each:Direct lender - Quicken Loans, loanDepot, PennyMacOnline lender - Rocket Mortgage, Ally, BetterBig Banks - Chase, Wells Fargo, Bank of AmericaCredit Unions - Navy Federal Credit Union, Pentagon Federal Credit Union, Alliant Credit UnionMortgage Broker What should you look for in a lender? Interest Rate - make sure the lender is not charging you points or fees for the rateAvailability - will the lender be available for me after hours, on the weekend, and answer any questions I have at a moment's noticeCommunication - can the lender clearly communicate the mortgage loan process in a way that works best for meKnowledge - does the lender and their team thoroughly understand the loan process and have the experience to share Market Expertise - it is essential to hire a lender who knows what it takes to win a bidding war and has their finger on the market's pulseSelecting the right lender when purchasing your home is crucial. Select the lender who checks off more of the boxes for you and is the best fit. The interest rate is not the end-all-be-all. You can choose a lender with a lower interest rate when refinancing in the future.What system or process does the lender have to ensure the best service? Here are some examples:- Thorough pre-approval packet with a pre-approval letter, DU, credit scores, and proof of funds- Guides to understand the home loan process or for a first-time homebuyer-Weekly check-ins- Same-day mortgage estimates- Group chat with a realtor with daily updates- How quickly can they close and buyer contingency periods?“One of the most important questions to ask a lender in this market with limited inventory is, ‘How will you help me find a home?' (add this title to the caption)Does the lender network with listing agents to see if they can provide an insight scoop to help you get your offer accepted?Will they call the listing agent to provide financial analysis and put in a good word when your offer is accepted?Will they provide weekly mortgage rate updates to let you know how it has affected your pre-approval amount and estimated mortgage payment Is the lender out on the field hosting open houses? If so, ask if they can host an open house for your preferred home.How will the lender help me after purchasing my home?Will they provide:Market updates?Equity updates?Mortgage rate updates?Quarterly check-ins?Find a lender who will be your go-to for life. In our opinion, most of the value comes with selecting the right lender after the home sale. A lifetime lender will let you know once you reach 20% equity and should refinance when interest rates are lower and should refinance when it's time to find the next rental, and how to build your real estate portfolio. This will likely save you more than selecting a lender who just offers the lowest interest rate but does not check in to provide more ways to lower your payment.This market is tough, and we understand that. So we made a free eBook to help you. “How to get a good deal in a seller's market” eBook

    Podcast - 074: How to find the right buyer's agent?

    Play Episode Listen Later May 10, 2022 26:03


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos explain what you should be looking for when selecting the right buyer's agentShould you interview to find the right agent?Yes, at least three agents. Before the interview, look at their reviews on Zillow, Google, and Yelp. Ask for at least two recommendations, ideally for clients closest to your buyer profile.Remember, you are not paying for the buyer's commission. It comes out of the listing agreement, and the seller pays for it. So all buyer's agents will receive the same pay.What should you look for in an agent?Availability - an agent or a team that is readily available since homes sell under ten days on marketKnowledge - an agent or team who understands the real estate process and disclosures and can effectively communicate to youCommunication - an agent or team who you feel comfortable communicating with daily. No question is a dumb question!Market expertise - an agent who knows what it takes to win a bidding war and has their finger on the market's pulse.What team does the buyer's agent have, and how will they help you?- Showing agents- Transaction Coordinator- LenderWhat system or process does the buyer agent have to ensure the best service?- Youtube playlist for first-time homebuyers- PDF with a checklist of things to expect- Group chat with daily updates- How to get a good deal in a seller's market PDF“One of the most important questions to ask a buyer's agent in this market with limited inventory is, ‘How will you help me find a home?'-Will they call a neighborhood to find an off-market deal for you?-Will they write letters to neighbors in an area you want?-Do they network with listing agents who specialize in selling homes you want?How will the buyer's agent help me after purchasing my home?- Market updates- Equity updates- Mortgage rate updates - Quarterly check-insHere is access to your free Homebot profile: https://get.homebot.ai/?agentId=5dfbc9d4d9b1a9012250fb4b

    Podcast - 073: Orange County real estate market update | Recap through April 2022

    Play Episode Listen Later May 6, 2022 13:36


    In this podcast, Realtor Anthony Luevanos and lender Angel Luevanos break down the Orange County market.Home prices in Orange County increased for the seventh straight month despite increasing interest rates.The median sales price increased from $1,025,000 in March to $1,062,500 in April. In the last 12 months, the median sales price is up $172,500 and 19.4%.The median price per square foot also increased to $628. Since last April, the median price per square foot jumped $130 and 26.1%.The number of homes for sale has increased slightly but is still down 15.2% since last year.Inventory months supply increased to just 1.3 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market remained just seven days, the fastest on record.Overall, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, it'll be interesting to see if buyer demand waivers or if home appreciation starts to slow down finally.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 072: Los Angeles real estate market update | Recap through April 2022

    Play Episode Listen Later May 4, 2022 19:27


    Realtor Anthony Luevanos and lender Angel Luevanos break down the Los Angeles County market in this podcast.Home prices in Los Angeles County increased again despite increasing interest rates.The median sales price increased from $870,000 in March to $900,000 in April. In the last 12 months, the median sales price is up $101,000 and 12.6%.The median price per square foot also increased to $612. Since last April, the median price per square foot jumped $90 and 17.2%.The number of homes for sale has increased slightly but is still down 19.8% since last year.Inventory months supply increased to just 1.6 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market remained just nine days, the fastest on record.All in all, we are still in an extreme seller's market. As interest rates increase, this should affect how much prices increase moving forward. *percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 071: Should I wait until I have 20% down to buy a home?

    Play Episode Listen Later Apr 20, 2022 16:43


    In this podcast realtor Anthony Luevanos and lender Angel Luevanos break down whether it makes more sense to purchase with a smaller down payment or to wait until you have 20% down. They run two scenarios that will help you get a better understanding.Option 1: Purchasing an $825,000 home now with 5% down, then refinancing in 2 years to drop the private mortgage insurance fee.*$825,000 is the current median sales price using a rolling 12 month average in Los Angeles CountyOption 2” Purchasing a $972,105.96 home in 2 years with 20% down.*972,105.96 is the projected median sales price using the current 5-year appreciation rate of 8.55% for Los Angeles CountyComparison after 2 years:Conventional 5% down at $825,000Downpayment: $41,250Equity: $215,224Monthly payment: $5,032Conventional 20% down at $972,105.96Downpayment: $194,421Equity: $194,421Monthly payment: $5,292With option 1, you can see that it required a smaller down payment, you will have more equity, and your monthly payment will be more affordable. So why not just purchase now?The initial monthly payment at 5% down will likely be more expensive than you'd like. We recommend setting aside reserves that you can dig into monthly so that the down payment is more manageable. For instance, instead of putting 10% down, put 5% down and set aside the other 5% into a mortgage account. Then, pull $500 - $1,000 a month from that mortgage account to help your pay for the higher monthly mortgage payment.Let home appreciation work for you and not against you.Given the current appreciation rate, within 2-3 years, you should have the equity to refinance or reappraise the property and remove mortgage insurance. Once you do that, you'll likely find yourself with a considerably more manageable monthly mortgage payment. This market is tough, and we understand that. So we made a free eBook to help you. “How to get a good deal in a seller's market” eBook

    Podcast - 069: Orange County real estate market update | Recap through March 2022

    Play Episode Listen Later Apr 6, 2022 15:07


    Orange County home prices just increased for the sixth straight month.The median sales price increased by $35,000 from February to March to a record price of $1,025,000. Over the past 12 months, that's an increase of $175,000 and 21% higher.The number of active listings increased slightly to 2,766 listings. In the timeframe between 2017 and 2020, we had anywhere between 5,800 to 8,000 active listings in March.Inventory months supply increased to just 1.1 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market decreased to 6 days, the fastest on record.Overall, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, it'll be interesting to see if buyer demand waivers or if home appreciation starts to slow down finally.*percentages are comparisons year-over-year For more details and charts, click:https://theluevanosgroup.com/market-trends

    Podcast - 068: Los Angeles real estate market update | Recap through March 2022

    Play Episode Listen Later Apr 6, 2022 15:30


    Home prices in Los Angeles County increased despite increasing interest rates.The median sales price increased from $835,000 in February to $870,000 in March. In the last 12 months, the median sales price is up $95,000 and 12.3%The number of homes for sale has increased slightly; however, we still have about half the active listings from February 2017 to 2019. Inventory months supply increased to just 1.4 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.Median days on the market decreased to 9 days, the fastest on record.All in all, we are still in an extreme seller's market. As interest rates increase, this should affect how much prices increase moving forward. *percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 067: How to buy a home with a conventional loan in 2022?

    Play Episode Listen Later Mar 31, 2022 25:31


    In this podcast, realtor Anthony Luevanos and lender Angel Luevanos break down what it takes to purchase a home with a conventional loan in 2022.A conventional loan is a mortgage loan not backed by a government agency. Conforming conventional loans follow the rules set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (Freddie Mac). Non-conforming loans do not follow these guidelines and can have a higher interest rate. In our podcast and guide below, we look at conforming mortgage loans.What are the minimum requirements to qualify for the FHA loan?The minimum downpayment is 3% for first-time homebuyers and 5% for everyone else. The credit score is 620, but we recommend a 680 since it's more challenging to get approved with a lower score. We recommend conventional if your credit score is 720 or higher since the interest rate will be better. The maximum debt-to-income ratio is 49.99%. The conventional loan limits in 2022 range from $420,860 in low-cost areas to $970,800 in high-cost areas like Los Angeles and Orange County.What are the pros of the conventional loan?- Low down payment requirement- Cheaper mortgage insurance- More affordable payment payment- Less strict property requirements- Do not need to refinance to remove mortgage insurance- Allows you to keep a low-interest rate What are the cons of the conventional loan?- Rates are higher- A higher credit score needed- Need to be a more qualified client overall- Not ideal to buy units because it requires a high down paymentOverall, the conventional loan is best for clients with high FICO scores, higher down payments, and sellers who want to transfer equity to a new home.This market is tough, and we understand that. So we made a free eBook to help you. “How to get a good deal in a seller's market” eBook

    Podcast - 066: How to buy a home with an FHA loan in 2022?

    Play Episode Listen Later Mar 23, 2022 25:05


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos break down what an FHA loan is, the minimum requirements, the pros and cons, and who the FHA loan is most importantly suitable for.The FHA loan, commonly referred to as the first-time home buyer loan, is a great option to purchase a home for those who do not have the best credit or largest downpayment.What are the minimum requirements to qualify for the FHA loan?The minimum downpayment is 3.5% for the FHA loan. The credit score is 580, but we recommend a 620 since the interest rate will be better. The maximum FHA debt-to-income ratio is 56.9%. The FHA loan limits in 2022 range from $420,860 in low-cost areas to $9700 in high-cost areas like Los Angeles and Orange County.What are the pros of the FHA loan?-Low down payment requirement-Low credit score requirement-Better interest rates than conventional-Can qualify for more-Can purchase multi-units with 3.5% downWhat are the cons of the FHA loan?-Mortgage Insurance is more expensive-UFMIP required-Must refinance to remove mortgage insurance-Monthly payment tends to be higher than a conventional loan with 5% down-Must meet more strict property requirementsOverall, the FHA loan is a superb option that will allow you to get into a home sooner than later. And in an appreciating market like we have seen the last ten years, waiting to qualify conventional or to put a larger downpayment can be costly.This market is tough, and we understand that. So we made a free eBook to help you. “How to get a good deal in a seller's market” eBook

    Podcast - 065: Rents are up almost 20% in the last year!

    Play Episode Listen Later Mar 16, 2022 19:17


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos cover the rental market. According to a report by Realtor.com, the median rents across the US increased 19.8%! Rent inflation is outpacing home price appreciate appreciation. So what can you do to protect yourself from rising rents yet still purchase a home with affordable payment? Listen in to see what we recommend to help you start the homeownership journey.

    Podcast - 064: How is global uncertainty affecting mortgage rates and the real estate market

    Play Episode Listen Later Mar 9, 2022 12:56


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos break down the Russian Ukrainian War and its impact on the real estate market. It's no secret that everything is more expensive but the 10-year treasury and interest rates recently dropped. Will interest rates continue to drop or is this a window of opportunity to attempt to lock in a lower interest rate? Should you wait to buy a home later this year? Will home prices drop as the geopolitical tension evolves? Listen in to hear their opinions.

    Podcast - 063: Orange County real estate market update | Recap through February 2022

    Play Episode Listen Later Mar 3, 2022 20:27


    Orange County home prices just increased for the fifth straight month.The median sales price increased $40,000 from January to February to a record price of $990,000. Over the past 12 months, that's an increase of $165,000 and 20% higher.The median price per square foot also grew $23 to $594 price per square foot. Since February 2021, it is also up to $123.The number of homes for sale increased and inventory months supply rose to 1 month. Remember 5-6 months is a balanced market, and 6+ is a buyer's market.Half the listings are available that we typically see during February, dating back to 2017.Overall, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, it'll be interesting to see if buyer demand waivers or if home appreciation starts to slow down finally.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 062: Los Angeles real estate market update | Recap through February 2022

    Play Episode Listen Later Mar 3, 2022 13:00


    Home prices in Los Angeles County increased despite the jump in interest rates.The median sales price increased from $825,000 in January to $834,000 in February. In the last 12 months, the median sales price is up $84,000 and 11.2%.The number of homes for sale has increased slightly, and inventory months supply increased to just 1.3 months. However, we still have about half the active listings from February 2017 to 2019.Median days on the market decreased to 10 days, four days faster than last month. Remember 5-6 months is a balanced market, and 6+ is a buyers market.All in all, we are still in an extreme seller's market. As interest rates increase, this should affect how much prices increase moving forward. *percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Podcast - 061: What are buyers looking for in a home?

    Play Episode Listen Later Feb 23, 2022 12:05


    In this episode, realtor Anthony Luevanos and lender Angel Luevanos talk about home buyers' shift in preference in the last 2 years. With people spending more time at home, they inevitably and asking for more. With this knowledge, you'll now know how to market your home to sell for more or better prepare yourself for this ultra-competitive home buyer market.This market is tough, and we understand that. So we made a free eBook to help you. “How to get a good deal in a seller's market” eBook

    Podcast - 060: Will increasing interest rates drop the price of homes?

    Play Episode Listen Later Feb 17, 2022 15:38


    In this episode realtor Anthony Luevanos and lender Angel Luevanos discuss increasing interest rates and their impact on home values. Since September, interest rates have increased by 1%. Does this mean that homes will sell for less? As interest rates increase, purchasing power goes down. Consequently, you can now bid less for homes, which decreases home prices. However, there are other factors to consider.

    Episode - 059: Great starter homes to keep your mortgage lower

    Play Episode Listen Later Feb 9, 2022 23:24


    In this episode realtor Anthony Luevanos and lender Angel Luevanos discuss 4 great strategies to purchase a starter home with a lower mortgage payment. You want to make sure you don't miss this one!Here are the 4 examples they discuss:1. Purchasing a duplex2. Single family residence with a guest home or inlaw unit3. Single family residence with a detached garage4. Condo or townhome with an HOA under $300

    Episode - 058: What does the Orange County real estate market look like? | Recap through January 2022

    Play Episode Listen Later Feb 2, 2022 12:47


    Orange Country prices just increased for the fourth straight month.The median sales price increased $17,500 from December to January to a record price of $950,000. Over the past 12 months, that's an increase of $163,000 and 20.7% higher.The median price per square foot also grew $19 to $571 price per square foot. Since January 2021, It is also up to $112.The number of homes for sale increased and inventory months supply rose to 0.8 months. Remember 5-6 months is a balanced market and 6+ is a buyer's market.All in all, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, it'll be interesting to see if buyer demand waivers or if home appreciation starts to slow down finally.*percentages are comparisons year-over-year For more details and charts, click:https://theluevanosgroup.com/market-trends

    Episode - 057: What does the LA County real estate market look like? | Recap through January 2022

    Play Episode Listen Later Feb 2, 2022 14:08


    Prices in Los Angeles County just had their most significant decrease since Jan 2021.The median sales price decreased from $836,000 in November to $825,000 in December. In the last 12 months, the median sales price is up $104,000 and 14.4%The number of homes for sale has increased slightly, and inventory months supply increased to just 1.3 months. Median days on the market increased to 14 days which is our most days since July 2020. Remember 5-6 months is a balanced market, and 6+ is a buyers market.All in all, we are still in an extreme seller's market. As interest rates increase, this should affect how much prices increase moving forward. *percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Episode - 056: Everything you need to know about the FHA loan?

    Play Episode Listen Later Jan 26, 2022 14:30


    In this episode realtor Anthony Luevanos and lender Angel Luevanos cover everything you need to know about the FHA loan. Here are some of the questions they cover:What is the minimum down payment required?What is the minimum credit score required?What is MIP (Mortgage Insurance Premium), and how much? What is the maximum debt-to-income ratio? Does the home need to be your primary residence?Can you rent a home that is FHA financed?How can you get rid of mortgage insurance on an FHA loan?Who is the FHA designed for?

    Episode - 055: How to find the right realtor for you in 2022?

    Play Episode Listen Later Jan 19, 2022 24:40


    In this episode, realtor Anthony and lender Angel answer 6 questions that will help you find the right realtor for you in 2022. Here are the questions:1. Should you work with your family or friend realtor?2. Should you speak to a few realtors before deciding who to work with?3. Does working with a team make the most sense for someone looking to sell or buy?4. Does working with an experienced realtor play a significant role in getting an offer accepted or selling your home for top dollar?5. What non-negotiable services should your realtor offer when selling your property?6. What non-negotiable services should your realtor offer when searching for a property?

    Episode - 054: 7 Tips for first-time home buyers

    Play Episode Listen Later Jan 13, 2022 18:39


    In this episode realtor Anthony and lender Angel review seven tips all first-time home buyers should. We listed them below:You do not need a 20% down paymentYou do not need excellent creditGet pre-approved before looking for homeYou are not paying for the buyer's agent commissionTreat your current rent as a mortgage and budgetInterview different realtors and lenders Be patient and enjoy the process

    Episode - 053: What does the Orange County real estate market look like? | Recap through December

    Play Episode Listen Later Jan 5, 2022 12:59


    Orange Country prices just increased for the third straight month.The median sales price increased $10,000 from November to December to a record price of $935,000. Median price per square foot also shot up $6 to $552 price per square foot and is up $103 since last December!The number of homes for sale decreased and inventory months supply dropped to 0.7 months. Remember 5-6 months is a balanced market and 6+ is a buyer's market.All in all, we are still in an extreme seller's market. Prices tend to retreat in the winter but we just set a new record in median sales price. We expect interest rates to go up soon so although it's very competitive, it may make sense to start looking now before the monthly payment starts to rise even more.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends#orangecounty #ocrealestate #ocrealestatemarket #orangecountyrealestatemarket #ochomes #realestatemarket

    Episode - 052: What does the LA County real estate market look like? | Recap through December

    Play Episode Listen Later Jan 5, 2022 14:21


    Prices in Los Angeles County just had their biggest increase since June.The median sales price increased from $820,000 in November to $835,000 in December. Prices are up $100,000 since last December!The number of homes for sale have decreased and inventory months supply dropped to just 1.2 months. Remember 5-6 months is a balanced market and 6+ is a buyers market. Median days on market remained 12 days and is up from our yearly low in July of 9 days.All in all, we are still in an extreme seller's market. Prices tend to retreat in the winter but we just matched our yearly high in median sales price. We expect interest rates to go up soon so although it's very competitive, it may make sense to start looking now before the monthly payment starts to rise even more.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends#losangelescounty #losangelesrealestate #losangelesrealestatemarket #losangelescountyrealestatemarket #losangeleshomes #realestatemarket

    Podcast - 051: 2022 Conforming loan limits and why they are important

    Play Episode Listen Later Dec 22, 2021 13:03


    In this episode, realtor Anthony Luevanos breaks down the 2022 conforming loan limits. We had our biggest increase ever, so there are a lot of things to pay attention to. He explains the difference from county to county, single unit to 4 units, and conventional vs. FHA limits.

    Podcast - 050: The up and downs of the real estate industry (Special Edition)

    Play Episode Listen Later Dec 15, 2021 29:05


    In this special episode, rather than talking about the real estate market and current events, Angel and Anthony talked about their businesses. Angel just completed his second full-time year as a lender and closed 40 deals this year. Anthony and The Luevanos Group also completed their second full time as a real estate team and closed 21 sides. They both talk about their experience in the industry and offer advice for those looking to enter the space.

    Episode - 049: What will happen to the real estate market in 2022?

    Play Episode Listen Later Dec 9, 2021 22:19


    In this episode Anthony Luevanos and Angel Luevanos breakdown an article from Keeping Current Matters that details the opinion of experts and their projections for 2022. For sellers, we are still going to be in a seller's market where your home will get a lot of attention. Some seller's will find themselves in a situation where they gained so much equity they can either seller to buy their dream home or cash-out refinance and purchase an investment property that is paying for itself.For buyers, we anticipate home prices and interest rates to increase as we move further along into 2022. Therefore, there is a strong incentive to purchase sooner and lock in your fixed mortgage payment and watch your home's value go up as time progresses.https://www.keepingcurrentmatters.com/article/housing-market-forecast/

    Episode - 047: What does the LA County real estate market look like? | Recap through November

    Play Episode Listen Later Dec 1, 2021 18:03


    Prices in Los Angeles County have slightly increased for the first time since June.The median sales price increased from $812,000 in October to $815,000 in November. Since June, prices have dropped $20,000.The number of homes for sale have decreased and inventory months supply dropped to 1.6 months. Remember 5-6 months is a balanced market and 6+ is a buyers market. Median days on market remained 12 days and is up from our yearly low in July of 9 days.All in all, we are still in an extreme seller's market but we are heading into the season where there tends to be less buyers and home prices tend to decrease. It may be an advantageous time to look when no one else is.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Episode - 046: Home price appreciation is finally starting to cool down

    Play Episode Listen Later Nov 17, 2021 19:44


    In this episode realtor Anthony Luevanos and lender Angel Luevanos break down 5 articles from Keeping Current Matters. One article they cover suggests that monthly home appreciation increases have now plateaued at 18.1% year-over-year. Many experts believe that this will likely drop to about 15% by the end of this year. That does not mean that prices will decrease in value heading into the next few years, but rather that we will revert back to a normal appreciation similar to our 25-year average of 5.1%.

    Episode - 045: What does the Orange County real estate market look like? | Recap through October

    Play Episode Listen Later Nov 5, 2021 11:48


    Just when we thought the Orange County real estate market was cooling off, we get another record month!The median sales price increased $15,000 from September to October to a record price of $915,000. Median price per square foot also shot up $8 to $538 price per square foot.The number of homes for sale increased slightly and inventory months supply increased to 1.2 months from our yearly low of 1.1 months. Remember 5-6 months is a balanced market and 6+ is a buyer's market.All in all, we are in an extreme seller's market but is there still one good sign for buyers. Interest rates are historically low. If you are looking to buy a home, make sure to make a strong offer out of the gate and remember to look at the cost of monthly payment as opposed to price tag. If you work the math out, it's usually more affordable to have a lower interest rate than a lower purchase price.*percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

    Episode - 044: What does the LA County real estate market look like? | Recap through October

    Play Episode Listen Later Nov 5, 2021 13:29


    Prices in Los Angeles County have dropped for the fourth straight month.The median sales price dropped from $820,000 in September to $810,000 in October. Since June, prices have dropped $25,000.The number of homes for sale have increased slightly and inventory months supply increased to 1.9 months from our yearly low of 1.8 months. Remember 5-6 months is a balanced market and 6+ is a buyers market. Median days on market also increased to 12 days from our yearly low in July of 9 days.All in all, we are still in a seller's market but there are a lot of good signs for buyers. Prices are decreasing, there is more inventory and days on market, and interest rates are still low! *percentages are comparisons year-over-year For more details and charts, click: https://theluevanosgroup.com/market-trends

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