RealtorErnesto

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year! . . If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. ... Using data from the Internal Revenue Service (IRS), it’s estimated that Americans can expect an average refund of $2,925 when filing their taxes this year. Thanks to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. In addition, Veterans Affairs Loans allow many veterans to put 0% down. You may have heard the common myth that you need to put 20% down when you buy a home, but thankfully for most homebuyers, a 20% down payment isn’t actually required. It’s important to work with your real estate professional and your lender to understand all of your options. How can your tax refund help? If you’re a first-time buyer, your tax refund may cover more of a down payment than you realize. Not enough money from your tax return? A recent paper from the National Bureau of Economic Research found that, of the households that received a stimulus check last year, One third report that they primarily saved the stimulus money. If you had the opportunity to save your Economic Impact Payments, you may consider putting that money toward your down payment or closing costs as well. Your trusted real estate professional can also advise you on the down payment assistance programs available in your area. Bottom Line Saving for a down payment can seem like a daunting task, but it doesn’t have to be. This year, your tax refund and your stimulus savings could add up big when it comes to reaching your homeownership goals.

Weekly San Martin single family homes real estate market update Have any questions or would like to know what it takes to buy or sell? Send me a text or call me at... (408) 722-1358 See more

Weekly San Jose single family homes real estate market update Have any questions or would like to know what it takes to buy or sell? Send me a text or call me at... (408) 722-1358 See more

Weekly Morgan Hill single family homes real estate market update Have any questions or would like to know what it takes to buy or sell? Send me a text or call me at... (408) 722-1358 See more

Weekly Gilroy single family homes real estate market update Have any questions or would like to know what it takes to buy or sell? Send me a text or call me at... (408) 722-1358 See more

FOR SALE 354 N.15th st San Jose CA 95112 It was built in 1924 with a clean and well-planned 3BD 1BA 1,142 sqft floor plan ... + basement and sits on 5,794 sqft lot accompanied with a 2 car detached garage. This house is a gem , DON’T wait cause it will sell fast due to its proximity to the downtown lifestyle, parks, shops, restaurants, Tech companies, and freeway access. List Price: $799,000 Don't miss this opportunity whether you are buying for the first time or looking for an investment. This home can be the right fit for you for generations to come. Any questions, let us know! We are here to serve you and your love ones.

How Will the Presidential Election Impact Real Estate? . . The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year.... As we come to the end of this tumultuous year, we’re preparing for perhaps the most contentious presidential election of the century. Today, it’s important to look at the impact past presidential election years have had on the real estate market. Is there a drop-off in home sales during a presidential election year? BTIG, a research and analysis company, looked at new home sales from 1963 through 2019 in their report titled One House, Two House, Red House, Blue House. They noted that in non-presidential years, there is a -9.8% decrease in November compared to October. This is the normal seasonality of the market, with a slowdown in activity that’s usually seen in fall and winter. However, it also revealed that in presidential election years, the typical drop increases to -15%. The report explains why: This may indicate that potential homebuyers may become more cautious in the face of national election uncertainty. Will it matter who is elected? To some degree, but not in the overall number of home sales. As mentioned above, consumer confidence plays a significant role in a family’s desire to buy a home. How may consumer confidence impact the housing market post-election? The BTIG report covered that as well: A change in administration might benefit trailing blue county housing dynamics. The re-election of President Trump could continue to propel red county outperformance. Again, overall sales should not be impacted in a significant way. Bottom Line If mortgage rates remain near all-time lows, the economy continues to recover, and unemployment continues to decrease, the real estate market should remain strong up to and past the election.

Welcome to our newest listing 354 N.15th st San Jose CA 95112 It was built in 1924 with a clean and well-planned 3BD | 1BA | 1,142 sqft floor plan ... + basement and sits on 5,794 sqft lot accompanied with a 2 car detached garage. This house is a gem , DON’T wait cause it will sell fast due to its proximity to the downtown lifestyle, parks, shops, restaurants, Tech companies, and freeway access. List Price: $799,000 Don't miss this opportunity whether you are buying for the first time or looking for an investment. This home can be the right fit for you for generations to come. Any questions, let us know! We are here to serve you and your love ones.

Is This the Year to Sell My House? . If one of the questions you’re asking yourself is, Should I sell my house this year? consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why. The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who s...ay it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month. Why is now a good time to sell? There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors, unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out. With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season: The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates. Bottom Line If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Let’s connect today to determine the best next step when it comes to selling your house this year.

Why Homeowners Have Great Selling Power Today . . We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. Here’s a breakdown of why it’s a great time to capitalize on equity gain in today’s market.... As average homeowner tenure lengthens and home prices rise, equity, a form of forced savings, can be applied forward to the purchase of a new home. CoreLogic explains: Over the past 10 years, the equity position of homeowners has positively changed as a result of more than eight years of rising home prices. As the economy climbed out of the recession in the first quarter of 2010, 25.9% or 12.1 million homes were still underwater, compared to the first quarter of 2020 when the negative equity share was at 3.4%, or 1.8 million properties. Borrowers have seen an aggregate increase of $6.2 trillion in home equity since the first quarter of 2010 and the average homeowner has gained about $106,100 in equity. Increasing equity is enabling many homeowners who are ready to sell their current houses today to sell for an increased profit, and then reinvest their earnings in a new home. If you’ve been taking a closer look at your house recently and are thinking it might be time for you to make a move, determining your equity position is a great place to start. Understanding how much equity you’ve earned over time can be a key factor in helping you realize the potential profits in your real estate investment and move toward your next homeownership goal. Bottom Line With average home sale profits growing, it’s a great time to leverage your equity and make a move, especially while the inventory of houses for sale and mortgage rates are historically low. If you’re considering selling your house, let’s connect today so you can better understand your home equity position and take one step closer to the home of your dreams.