Inland Empire Real Estate with Greg Shipp

A real estate professional is an expert who can advocate on your behalf throughout the process when building a home. Agents help you understand key steps, like choosing upgrades and managing negotiations, while staying within your budget from start to finish. If building is the right choice for you, DM me so you can have a trusted real estate professional who can help you successfully navigate the path to your dream home. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters

If you’re a renter, it’s never too early to think about how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater financial security and savings. 1. You Won’t Always Have a Monthly Housing Payment As a homeowner, you can eventually eliminate the monthly payment you make on your house. As soon as you buy a home, your monthly ho...using costs begin to work for you as forced savings in the form of equity. When you build equity and grow your net worth, you can continue to reinvest those savings into your future, maybe even by buying that next dream home. The possibilities are truly endless. 2. Homeownership Is a Tax Break One thing people who have never owned a home don’t always think about are the tax advantages of homeownership. Whether you’re living in your first home or your fifth, it’s a huge financial advantage to have some tax relief tied to the interest you pay each year. It’s one thing you definitely don’t get when you’re renting. Be sure to work with a tax professional to get the best possible benefits on your annual return. 3. Monthly Housing Costs Are Predictable With a mortgage, you can keep your monthly housing costs relatively steady and predictable. Your monthly costs are most likely based on a fixed-rate mortgage, which allows you to budget your finances over a longer period of time. Rental prices have been skyrocketing since 2012, and with today’s low mortgage rates, it’s a great time to get more for your money when purchasing a home. If you’re ready to start feeling the benefits of stability, savings, and predictability that come with owning a home, DM me to determine if buying sooner rather than later is right for you. #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal #keepingcurrentmatters

Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to come up with 20% of the total sale price for your down payment. This means people who could buy a home may be putting their plans on hold because they don’t have that much saved yet. The... reality is, whether you’re looking for your first home or you’ve purchased one before, you most likely don’t need to put 20% down. Here’s why. According to Freddie Mac, The most damaging down payment mythsince it stops the homebuying process before it can startis the belief that 20% is necessary. If saving that much money sounds daunting, potential homebuyers might give up on the dream of homeownership before they even begin but they don’t have to. Data in the 2020 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) indicates that the median down payment actually hasn’t been over 20% since 2005, and even then, that was for repeat buyers, not first-time homebuyers. The data shows today’s median down payment is far less than 20%. For the average buyer, it’s only 12%. The median down payment was lowest for first-time buyers with the 2020 percentage coming in at 7%. If you’re a first-time buyer and putting down 7% still seems high, understand that there are programs that allow qualified buyers to purchase a home with a down payment as low as 3.5%. There are even options like VA loans and USDA loans with no down payment requirements for qualified applicants. It’s important for potential homebuyers (whether they’re repeat or first-time buyers) to know they likely don’t need to put down 20% of the purchase price, but they do need to do their homework to understand the options available. If you’re hoping to buy a home this year, DM me to review your options. #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsa

Every year, households across the country make the decision to rent for another year or take the leap into homeownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these measurements, recent studies show that it’s still more affordable to own than rent in most of the country. There is, however, a...nother financial advantage to owning a home that’s often forgotten in the analysis the wealth built through equity when you own a home. Odeta Kushi, Deputy Chief Economist for First American, discusses this point in a recent blog post. She explains, Once you include the equity benefit of price appreciation, owning made more financial sense than renting in 48 out of the 50 top markets, with the only exceptions being San Francisco and San Jose, Calif. The typical gain in the sale of the home (equity) has increased significantly over the last five years. CoreLogic, another property data curator, also weighed in on the subject. According to their latest Homeowner Equity Insights Report, the average homeowner gained $17,000 in equity in just the last year alone. The National Association of Realtors (NAR) just reported that today, the median priced home in the country sells for $309,800. If homes appreciate by 5% this year (the average of the forecasts), the homeowner will increase their wealth by $15,490 in 2021 through increased equity. As you make your plans for the coming year, be sure to consider the equity benefits of home price appreciation as you weigh the financial advantages of buying over renting. When you do, you may find this is the perfect time to jump into homeownership. #expertanswers #purchasingpower #buyingpower #homepriceappreciation #affordability #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keeping

If you’re on the fence about selling your house, now is a great time to take advantage of sky-high demand, low supply, and fierce buyer competition. With buyer demand rising and historically low inventory for sale, if you’re in a position to move, your house may really stand out from the crowd. DM me today to get your listing process underway. #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and that percentage has been dropping steadily. Black Knight recently reported that the national forbearance rate ...has decreased to 5.6%, with active forbearances falling below 3 million for the first time since mid-April. Many of those still in forbearance are actually making timely payments. Christopher Maloney of Bloomberg Wealth recently explained, Almost one quarter of all homeowners who have demanded forbearance are still current on their mortgagesaccording to the latest MBA data. However, since over two million homeowners are still in forbearance, some experts are concerned that this might lead to another wave of foreclosures like we saw a little over a decade ago during the Great Recession. Here is why this time is different. >>There will be few strategic defaults Today, the vast majority of homeowners have significant equity in their homes. This dramatically decreases the possibility of strategic defaults. >>There are other options that were not available the last time -Refinance repay -Repayment plan -Deferral program -Modification flex modification Homeowners who can’t catch up on past payments and don’t qualify for the programs mentioned have two options: sell the house or let it go to foreclosure. Some experts think most will be forced to take the foreclosure route. However, an examination of the data shows that probably won’t be the case. Some analysts are talking about future foreclosures reaching 500,000 to over 1 million. With the options today’s homeowners have, that doesn’t seem likely. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipso

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say. Lawrence Yun, Chief Economist, National Association of Realtors: Home sales continue to amaze, and there are plenty o...f buyers in the pipeline ready to enter the marketFurther gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery." Frank Martell, President and CEO, CoreLogic: "Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressuresAlthough the exact contours of the economic recovery remain uncertain, we expect current equity gains, fueled by strong demand for available homes, will continue to support homeowners in the near term." Zillow: Zillow's predictions for seasonally adjusted home prices and pending sales are more optimistic than previous forecasts because sales and prices have stayed strong through the summer months amid increasingly short inventory and high demand. The pandemic also pushed the buying season further back in the year, adding to recent sales. Future sources of uncertainty including lapsed fiscal relief, the long-term fate of policies supporting the rental and mortgage market, and virus-specific factors, were incorporated into this outlook. Many economists are in unison, indicating the housing market will continue to fuel the economy through the end of the year, maintaining this unprecedented strength. DM me if you’re ready to make a move in the housing market. #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #reale

With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers. From pre-approval to making your best offer, I can give you three tips to make sure you can act quickly and confidently when you find the perfect home. DM me today to be sure you have the guidance you need as the competition for homes heats up this season. #Biddingwar #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal #keepingcurrentmatters

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them, and buyer demand is still strong heading into the fall. In fact, purchaser demand is so high, the market is running out of available homes for sale. Just last week, realtor.com reported, Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing invento...ry. Home builders are increasing construction, but they cannot keep up with the high demand. Bill McBride, founder of the Calculated Risk blog, in discussing inventory of newly constructed houses, notes, The months of supply decreased to 3.3 months...This is the all-time record low months of supply. Anyone thinking of putting their home on the market should not wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today. Next year, when the pandemic is hopefully behind us, there will be many more properties coming to the market. Don’t wait for that increase in competition in your neighborhood. Now is the time to sell, so DM me today. #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters

One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down. A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, 88% say they have significantly less savings than the average national down payment amount, whi...ch is $62,600. Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house. According to the National Association of Realtors (NAR), The median existing-home price for all housing types in August was $310,600. That means if a qualified first-time buyer purchases a home at today’s median price, $310,600, with a 6% down payment, in reality the down payment only amounts to $18,636. That’s nowhere near $62,600. Knowing there are also programs like FHA where the down payment can be as low as 3.5% of the purchase price for a first-time buyer, that up-front cost could be significantly less as little as $10,871 for the same home noted above. There are also other programs like USDA and loans for Veterans which waive down payment requirements. The lack of knowledge about the homebuying process is keeping many motivated first-time buyers on the sidelines. That’s why it’s important to contact a professional to understand the requirements in your local area if you want to buy a home. DM me today so I can guide you through the process. #Downpayment #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal #keepingcurrentmatters

There are many benefits to working with a real estate professional when selling your house. If you’re considering selling on your own, known in the industry as a For Sale by Owner (FSBO), it’s critical to consider the following: 1 Your safety is a priority real estate professional will have the proper protocols in place to protect not only your belongings, but your family’s health and well-being too.... 2 A powerful online strategy is a must to attract a buyer Recent studies from NAR have shown that, even before COVID-19, the first step 44% of all buyers took when looking for a home was to search online. Throughout the process, that number jumps to 93%. 3 There are too many negotiations As part of their training, agents are taught how to negotiate every aspect of the real estate transaction and how to mediate the emotions felt by buyers looking to make what is probably the largest purchase of their lives. 4 You won’t know if your purchaser is qualified for a mortgage Having a buyer who wants to purchase your house is the first step. Making sure they can afford to buy it is just as important. As a FSBO, it’s almost impossible to be involved in the mortgage process of your buyer. 5 FSBOing has become more difficult from a legal standpoint In an increasingly litigious society, the agent acts as a third-party to help the seller avoid legal jeopardy. This is one of the major reasons why the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years. 6 You net more money when using an agent A study by Collateral Analytics revealed that FSBOs don’t actually save anything by forgoing the help of an agent. In some cases, the seller may even net less money from the sale. The study found the difference in price between a FSBO and an agent-listed home was an average of 6%. Listing on your own leaves you to manage the entire transaction by yourself. Why do that when you can hire an agent and still net the same amount of money? Before you decide to take on the challenge of selling your house alone, DM me to discuss your options. #Sellyourhouse #FSBO #moveuphome #realestate #homeownership #realestategoals #realestatetips #realestatelife #r

If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you? New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs. DM me to understand how to sell your house while buyer demand is high and find a new home to call your own while you’re at it. #Sellyourhouse #newconstruction #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters

Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed. Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make: should I move before I retire? Whether it’s a second h...ome or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to round out a long and meaningful career. According to the 20th Annual Transamerica Retirement Survey, 3 out of 4 retirees (75%) own their home, and only 23% have mortgage debt (including any equity loans or lines of credit). Since entering retirement, almost 4 in 10 retirees (38%) have moved into a new home. They’re making a profit by selling their current homes in today’s low inventory market and using their equity to purchase their future retirement homes. It’s a win-win. The health crisis this year made us all more aware of the importance of our family and friends, and many of us have not seen our extended families since the pandemic started. It’s no surprise, therefore, to see in the same report that 32% of those surveyed cited the top reason they’re making a move is because they want to be closer to family and friends. If you’re one of the 73% of retirees with a single-family home and want to move closer to your family, now is the time to put your house on the market. With the pace homes are selling today, you could essentially wrap up your move start to finish before the holidays. DM me to discuss your options in our local market. #Retirement #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters

One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they’re so affordable in today’s market. Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. The data shows the averag...e net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready. Owning a home is a great way to build family wealth. For many families, homeownership serves as a form of ‘forced savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity you have in your home. The impact of home equity is part of why Gallup reports that Americans picked real estate as the best long-term investment for the seventh year in a row. According to this year’s survey, 35% of Americans chose real estate over stocks, savings accounts, gold, and bonds. Today, there are great opportunities available for those planning to buy a home. The housing market has made a full recovery, and all-time low interest rates are giving homebuyers a big boost in purchasing power. If you’re ready, buying a home this fall can set you up to increase your net worth and create a safety net for your family’s future. To learn how you can use your monthly housing cost to build your family’s net worth, DM me so you have a trusted professional to guide you through the homebuying process. #Networth #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal #keepingcurrentmatters

Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms anymore, and it may be a great time to sell your house and downsize, maybe even into a single-story home. You’ve likely gained significant equity if you’ve lived in your home for a while, so making a move while demand for your current house is high could be your best step forward toward the retirement goals you set out to achiev...e several years ago. The dilemma, though, is where to go next. A big concern for many homeowners who are ready to sell is finding a home to move into, given today’s lack of houses available for sale. There is, however, some good news: the number of single-family 1-story homes being built today is on the rise, improving your odds of finding the right home for your changing needs. In a recent article, The National Association of Home Builders (NAHB) explains, Nationwide, the share of new homes with two or more stories fell from 53% in 2018 to 52% in 2019, while the share of new homes with one story grew from 47% to 48%. Still not sure about buying a single-story home? An article from Home Talk covers several advantages of switching from two floors to one: 1. Energy Efficient 2. Easier to Maintain 3. Accessible to Everyone 4. Good Resell Potential There are many benefits to downsizing into a one-story home. Doing so while demand for your current house is high might make it easier than ever to make a move. DM me if you’re ready to purchase the single-story home you need while homes are so affordable today. #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters

A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market. The ILHM explains, With quarantine concerns still top of mind for many luxury buyers, we see la...rge, sprawling estates making their comeback. This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes. Exactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few years; especially from the younger generation of luxury property buyers. For today’s buyers looking for larger homes, steady increases in equity might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more affordable than they have been in years. The report from ILHM also notes, Luxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market. Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all. Clearly, today’s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the luxury market to meet those changing needs. If you’re ready to gain some breathing room in a larger home, it’s a great time to DM me and find more space in the luxury home market. #luxurymarket #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #moveup #locationlocationlocation #newlisting #homeforsale #renovated #luxuryhomes #dreamhome #curbappeal

If you’re thinking about moving, selling your home this fall might be the way to go. Here are four highlights in the housing market that may make your decision to sell this fall an easy one. 1. Buyers Are Actively in the Market ShowingTime, a leading real estate showing software and market stat service provider, just reported that buyer traffic jumped 60.7% compared to this time last year. That’s a huge increase. It’s clear that buyers are ready, willing, and able to purchase... and they’re in the market right now. 2. There Are Not Enough Homes for Sale In the latest Existing Home Sales Report, NAR announced that there were only 1.49 million units available for sale. That number was down 18.6% from one year ago. This means in the majority of the country, there aren’t enough homes for sale to satisfy the number of buyers. 3. The Process Is Going Quickly Today’s ultra-competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. 4. There May Never Be a More Important Time to Move You’ve likely spent much of the last six months in your current home. Perhaps you now realize how small it is, and you need more space. If you’re working from home, your children are doing virtual school, or you just need more space, your current floor plan may not work for your family’s changing needs. The housing market is prime for sellers right now, so DM me to get the process started this fall. If the timing is right for you and your family, the market is calling your name. #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters