Ricardo I. Navarrete-Mendez

Ricardo I. Navarrete-Mendez Ready to help with your home buying and selling needs.Get in touch today! Ricardo lives in West Michigan with his family.

Ricardo Navarrete has been an active member of his real community for over ten years now and is so excited to be turning that community focus toward real estate. With a passion for service in the West Michigan area, Ricardo is ready to help with your home-buying and selling needs. As a proud member of the Michigan Top Producers family, Ricardo carries the values of hard work, integrity, and outsta

nding client service into everything he does. When Ricardo isn’t making homeownership dreams come true for his clients, he enjoys spending time with his family, listening to books, and playing soccer.

Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicor...
06/20/2023

Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter.
As home prices dropped slightly in the back half of 2022, equity was impacted. Based on the most recent report from CoreLogic, there was a 0.7% dip in homeowner equity over the last year. However, the headlines reporting on that change aren’t painting the whole picture. The reality is, while home price depreciation during the second half of last year caused equity to drop, the data shows homeowners still have near-record amounts of equity.
Consider the total amount of tappable equity in this country going all the way back to 2005. Tappable equity is the amount of equity available for homeowners to access before hitting a maximum 80% loan-to-value ratio (LTV). The data shows there was a significant equity boost during the ‘unicorn’ years as home prices rapidly appreciated.
But here’s what’s key to realize – even though there’s been a small dip, total homeowner equity is still much higher than it was before the ‘unicorn’ years.
Context is everything when looking at headlines. While homeowner equity dropped some from last year, it’s still near all-time highs. DM me so you can get the answers you deserve from an expert who’s here to help as you plan your move this year.
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🌐 https://ricardonavarrete.smarthomeprice.com/

There are plenty of great reasons to own a home. A major one is that it allows you to accumulate wealth. As the largest ...
06/20/2023

There are plenty of great reasons to own a home. A major one is that it allows you to accumulate wealth. As the largest asset for most homeowners, housing is a major factor in building your net worth. Let’s chat about your homeownership goals today.
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🌐 https://ricardonavarrete.smarthomeprice.com/

Real estate agents fill important roles in the home buying and selling process. Finding the right real estate agent for ...
06/20/2023

Real estate agents fill important roles in the home buying and selling process. Finding the right real estate agent for your situation may take a little time, but it is worth the investment of time to ensure that you are happy with the results of your real estate transaction.
A dedicated real estate agent can help you by offering advice that might help boost curb appeal, make the home more marketable, and encourage a faster sale for your home. I’d love to be that agent for you!
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🌐 https://ricardonavarrete.smarthomeprice.com/

Happy Father's Day to all the amazing dads who inspire, support, and love us unconditionally. Today, we honor the superh...
06/17/2023

Happy Father's Day to all the amazing dads who inspire, support, and love us unconditionally. Today, we honor the superheroes who have guided us through life's challenges with wisdom and tenderness. Thank you for being our role models and making a lasting impact. Wishing you a day filled with joy and appreciation!

If you’re feeling a little down because your home hasn’t sold yet, don’t despair! There could be a variety of reasons wh...
06/17/2023

If you’re feeling a little down because your home hasn’t sold yet, don’t despair! There could be a variety of reasons why your home is still sitting on the market.
Don’t worry…There are steps you can take to increase your chances of finding the perfect buyer.
Some potential reasons include:
🗝 Photo Order
❌ Sellers put the front of the home as the first photo. Nearly all homes BEST photos aren’t the front of the house
✅ My recommendation is to put at least the first five best pictures of the home as the first five photos. Most people who have clicked through the property’s top five photos will continue to click away to see the others
Remember, understanding the problem is half the battle. Recognizing these potential pitfalls is the first step towards transforming that ‘For Sale’ sign into a ‘Sold’ one.
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🌐 https://ricardonavarrete.smarthomeprice.com/

The Main Reason Mortgage Rates Are So HighToday’s mortgage rates are top-of-mind for many homebuyers right now. As a res...
06/16/2023

The Main Reason Mortgage Rates Are So High

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions:

>>Why Are Mortgage Rates So High?

The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). Demand for MBS helps determine the spread between the 10-Year Treasury Yield and the 30-year fixed mortgage rate. Historically, the average spread between the two is 1.72.

Last Friday morning, the mortgage rate was 6.85%. That means the spread was 3.2%, which is almost 1.5% over the norm. If the spread was at its historical average, mortgage rates would be 5.37%.

This large spread is very unusual. The good news is, that means there’s room for mortgage rates to improve today. So, what’s causing the larger spread and making mortgage rates so high today? Simply put: when there’s less risk, demand for MBS is high, so mortgage rates will be lower. On the other hand, if there’s more risk with MBS, demand for MBS will be low, and we’ll see higher mortgage rates as a result. Currently, demand for MBS is low, so mortgage rates are high.

>>When Will Rates Go Back Down?

Odeta Kushi at First American says in a recent blog: “It’s reasonable to assume that the spread and, therefore, mortgage rates will retreat in the second half of the year if the Fed takes its foot off the monetary tightening pedal and provides investors with more certainty. However, it’s unlikely that the spread will return to its historical average of 170 basis points, as some risks are here to stay.”
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🌐 https://ricardonavarrete.smarthomeprice.com/

Your Morning Real Estate MinuteWith all the headlines circulating about home prices and rising mortgage rates, you may w...
06/16/2023

Your Morning Real Estate Minute

With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds.

If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.

Why Do Americans Still Feel So Positive About the Value of Investing in a Home?

Purchasing real estate has typically been a solid long-term strategy for building wealth in America. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes, “. . . homeownership is a catalyst for building wealth for people from all walks of life. A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter.”

That’s because owning a home grows your net worth over time as your home appreciates in value and as you pay down your mortgage. And, since building that wealth takes time, it may make sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity.

Buying a home is a powerful decision. So, it’s no wonder so many people view real estate as the best long-term investment. If you’re ready to start on your own journey toward homeownership, DM today.
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🌐 https://ricardonavarrete.smarthomeprice.com/

Think you’re making the smart choice by trying to time the market?Well, you might want to think again.At the end of the ...
06/14/2023

Think you’re making the smart choice by trying to time the market?
Well, you might want to think again.
At the end of the day, the real estate market is unpredictable. While we might have an idea of where we’re going in the short term, it’s impossible to predict when interest rates will drop or if the market is going to crash.
So if you’re
1) ready to buy a home
2) but are waiting for the perfect conditions or a buyer’s market
Chances are that you’re waiting for nothing and are missing out on building valuable equity in a home.
If you’re ready to become a homeowner and can afford it, then NOW is the best time to buy so you can start building equity and your financial future.
Want to chat more about buying a home and whether it’s a smart move for you? Just send a DM!
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🌐 https://ricardonavarrete.smarthomeprice.com/

This Real Estate Market Is the Strongest of Our LifetimeWhen you look at the numbers today, the one thing that stands ou...
06/13/2023

This Real Estate Market Is the Strongest of Our Lifetime

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point.

>>The Current Mortgage Rate on Existing Mortgages

First, let’s look at the current rate on existing mortgages. According to the FHFA, as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4%. Here's why this gives the housing market such a solid foundation today. Having so many homeowners with such low mortgage rates helps us avoid a crisis with a flood of foreclosures coming to market like there was back in 2008.

>>The Amount of Homeowner Equity

Second, Americans are sitting on tremendous equity right now. According to the Census and ATTOM, roughly two-thirds (around 68%) of homeowners have either paid off their mortgage or have at least 50% equity. In the industry, the term for this is equity rich. This is significant because if you think back to 2008, some people had to make the difficult decision to walk away from their homes because they owed more on the home than it was worth.

But this time, things are different because homeowners have built up so much equity over the past few years alone. And, when homeowners have that much equity, it helps us avoid another wave of distressed properties coming onto the market like we saw during the crash. It also creates an extremely strong foundation for today’s housing market.
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🌐 https://ricardonavarrete.smarthomeprice.com/

Homeownership is one of the best ways to grow your net worth. Why? Because when you own a home, you develop equity as yo...
06/12/2023

Homeownership is one of the best ways to grow your net worth. Why? Because when you own a home, you develop equity as you pay down your home loan and as home prices grow with time. And, that equity can help you reach other goals in life or fuel a future move later on. Let’s chat more about the benefits of .
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🌐 https://ricardonavarrete.smarthomeprice.com/

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3721 S Westnedge Avenue
Kalamazoo, MI
49008

Telephone

+16162098099

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