Jose Leon

Jose Leon As a devoted real estate professional I will make every effort to ensure your experience is as smooth and enjoyable as possible.

09/07/2015

SNEAKY HOME BUYING FEES THAT YOU NEVER GET BACK-

Well, I couldn’t disagree more. That’s like saying that you are throwing money away buying food because when you eat it, it’s gone. Guess what? There are costs to living. And that includes the roof over your head. There are even home ownership costs you don’t get back.

Buying a home is the biggest money decision you will ever make. Don’t take it lightly, and remember that it’s not about playing house. Buying a house you can’t afford can sink you into financial prison, no matter how nice it is.

Now, homeownership can be the right thing for you, after all. Just know, though, that nothing in finance is one-size-fits all, especially when it comes to buying versus renting your home.

Here are some of the fees that fall under the closing costs umbrella:

Read the Full Story Here! - http://www.forbes.com/sites/nicolelapin/2015/04/13/sneaky-home-buying-fees-that-you-never-get-back/

09/03/2015

12 TIPS FOR SPRING HOMEBUYING IN A SELLER'S MARKET-

Sellers hold most of the cards this spring, so buyers must be ready to move swiftly and play smart.
With spring finally here for most of the nation, prospective homebuyers can look at houses and condos without traipsing through snow and ice. Better weather, plus the traditional belief that families search for homes so they can move in between school years, makes spring a major homebuying season in much of the country.

“Especially considering this winter, we’re expecting a very busy spring season,” says Daniel Hedaya, president of Platinum Properties in New York City. “We’re already seeing an uptick.”

The biggest challenge facing homebuyers in many markets may be finding a home to buy. The inventory of available homes for sale remains low in many cities, especially in certain price ranges.

Read the Full Story Here! - http://money.usnews.com/money/personal-finance/articles/2015/04/13/12-tips-for-spring-homebuying-in-a-sellers-market

08/31/2015

MORTGAGE APPLICATION RISE POINTS TO MORE HOMEBUYERS-

Loan applications to purchase a home rose for the third straight week, but lower interest rates were not enough to spur mortgage refinances.

Total mortgage application volume rose 0.4 percent week-to-week on a seasonally adjusted basis for the week ending April 3, according to the Mortgage Bankers Association (MBA). The move was driven entirely by a 7 percent surge in applications by homebuyers. Purchase applications are now 12 percent higher than the same week one year ago

"Purchase mortgage application volume last week increased to its highest level since July 2013, spurred on by still low mortgage rates and strengthening housing markets," said Mike Fratantoni, MBA's Chief Economist.

Read the Full Story Here! - http://www.cnbc.com/id/102567894

08/27/2015

A SUBURBAN PLACE TO CALL THEIR OWN -

Members of the millennial generation still want a home in the suburbs.

A common misconception in the wake of the Great Recession is that Americans, particularly millennials, hold different preferences regarding homeownership and a desire to live in the suburbs. This stylized argument claims that the declining homeownership rates of recent years is a reflection of an increased desire to rent, particularly in more urban locations. However, this assertion is at odds with recent survey data that indicate that preferences for homeownership and suburban living remain strong.

The goal of homeownership, alongside education and owning your own business, remains a key feature of the American Dream. The homeownership rate, for those under age 35 has fallen from 43.1 percent to 35.8 percent from 2004 to 2014, according to Census data. However, this change reflects constraints on housing opportunity rather than a sea change in preferences.

Read the Fully Story Here! - http://www.usnews.com/opinion/economic-intelligence/2015/04/08/millennials-still-want-to-own-a-home-in-the-suburbs

08/24/2015

MORTGAGE APPLICATION RISE POINTS TO MORE HOMEBUYERS-

Loan applications to purchase a home rose for the third straight week, but lower interest rates were not enough to spur mortgage refinances.

Total mortgage application volume rose 0.4 percent week-to-week on a seasonally adjusted basis for the week ending April 3, according to the Mortgage Bankers Association (MBA). The move was driven entirely by a 7 percent surge in applications by homebuyers. Purchase applications are now 12 percent higher than the same week one year ago

"Purchase mortgage application volume last week increased to its highest level since July 2013, spurred on by still low mortgage rates and strengthening housing markets," said Mike Fratantoni, MBA's Chief Economist.

pplications to refinance loans, which made up 57 percent of total volume, fell 3 percent from the previous week and are down 47 percent from a year ago, even though interest rates were 70 basis points higher for a 30-year fixed loan in the same week of 2014.

Read the Full Story Here! -http://www.cnbc.com/id/102567894

08/20/2015

MORTGAGE APPLICATIONS SURGE ON SPRING DEMAND-

Despite volatility in interest rates, mortgage applications moved decidedly higher last week, continuing their strong stride into spring.

Total volume increased 4.6 percent sequentially, on a seasonally adjusted basis for the week ending March 27th, according to the Mortgage Bankers Association (MBA).

"This week's mortgage application survey falls right into line with recent indications that home sales – new, existing and pending – are on the rise, as is consumer sentiment," said Lynn Fisher, MBA's Vice President of research and economics."

Pedestrians pass a sign advertising mortgages at a Citibank branch in New York.
Scott Mlyn | CNBC
Pedestrians pass a sign advertising mortgages at a Citibank branch in New York.
Despite volatility in interest rates, mortgage applications moved decidedly higher last week, continuing their strong stride into spring.

Total volume increased 4.6 percent sequentially, on a seasonally adjusted basis for the week ending March 27th, according to the Mortgage Bankers Association (MBA).

"This week's mortgage application survey falls right into line with recent indications that home sales – new, existing and pending – are on the rise, as is consumer sentiment," said Lynn Fisher, MBA's Vice President of research and economics."

Mortgage applications to purchase a home rose 6 percent week to week and were 8 percent higher than one year ago. Applications to refinance, which are more dependent on interest rate levels, rose 4 percent for the week and are 44 percent higher than they were one year ago

Read the Full Story Here! - http://www.cnbc.com/id/102551267

08/17/2015

7 RENOVATIONS YOU DON'T WANT TO WASTE YOUR MONEY ON-

Home renovation is a $400 billion business. But that doesn't mean every renovation is a successful one. So how do you know which ones bring home the ROI and which ones you shouldn't waste your time - and money - on?

We consult Remodeling magazine's Cost versus Value Report to find the highest return on investment for home projects. But how about the ones that don't pay you back?

Here are seven you should be wary of.

1. Mid-Range Bathroom Remodel
2. Master Suite Addition
3. Family Room Addition

Read the Full Story Here! - http://realtytimes.com/consumeradvice/homeownersadvice1/item/34132-20150406-7-renovations-you-dont-want-to-waste-your-money-on

08/14/2015

FIXED RATE DOESN'T MEAN FIXED PAYMENTS-

This is one of the best times to get a fixed-rate mortgage. A fixed rate simply means that the mortgage lender charges you a fixed rate of interest that doesn't ever change over the life of the loan.

If you get a fixed rate of 4.00 percent, you will be paying four percent in interest until you sell the home. At such a low rate, it's unlikely you'd refinance.

You can see how much you pay in interest in an amortization schedule. The longer you pay on a fixed rate, the more interest you pay down because your interest payment is front-loaded into the beginning years of your loan schedule.

The longer you own your home and pay on your mortgage, you'll see that a greater percentage of your monthly payment goes to reduce principal, helping you to build equity or ownership in the home.

An adjustable rate mortgage is initially lower than a fixed rate, but the loan will adjust periodically according to market rates after one year, three years, five years, or whatever you and the lender have agreed to.

Read the Full Story Here! - http://realtytimes.com/consumeradvice/mortgageadvice1/item/34071-20150403-fixed-rate-doesnt-mean-fixed-payments

08/14/2015

IT DOESN'T PAY TO WAIT TO BUY A HOME-

There will always be those who try to "time the market," but there's one factor you can't know -- when buying a home will become more expensive.

Certainly you can tell from recent trends whether or not prices and mortgage interest rates are in your favor. Monthly prices have risen year-over-year for three years. Mortgage interest rates are slowly rising, but remain at extremely attractive levels.

You could wait for prices to fall, but there are two problems with that idea. First, it would take an economic recession to lower prices, which could take months or years. With the exception of the Great Recession, you won't know if you're in or out of a recession until the talking heads online inform you.

Second, mortgage interest rates have been kept artificially low for five years. That's a very long time. With steady gains in employment, it's not likely they will go any lower. In fact, higher interest rates could wipe out any gains you could save by waiting to buy.

Read the Full Story Here! -http://realtytimes.com/consumeradvice/buyersadvice1/item/34045-20150402-it-doesnt-pay-to-wait-to-buy-a-home

08/10/2015

WHY ARE HOME INSPECTIONS SO IMPORTANT?-

Purchasing a home is a lot different than purchasing a loaf of bread at the grocery store. If the bread goes bad, you can go back to the store and return it. At worst, you are only out a couple of dollars if you decide to just throw it out instead. However, you can't just walk away or cut your losses when you are investing as much as $100,000 or more on a house. Therefore, you need to inspect the property before you buy it.

House Inspections Can Find A Variety Of Problems

When a trained professional such as Home First Property Inspections inspects a property, he or she is going to know exactly what to look for. While you may miss the discolored wallpaper or the dying tree branch that can indicate water or termite damage, a house inspection professional is not going to miss those signs. Your inspector will also be able to find any damage to your foundation or whether or not your roof needs to be repaired right away.

Read the Full Story Here! - http://sarahsmith.realtytimes.com/advicefromagents1/item/33956-why-are-home-inspections-so-important

08/06/2015

SELLERS: RAMP UP YOUR CURB APPEAL-

Curb appeal is one of the most important factors in selling a home, and one of the most difficult to quantify, but one thing is certain -- homes sell for more money when they have it.

It's common knowledge that drive-up first impressions count. Buyers want to be charmed and excited about a property as a whole. A clean, tidy front yard, front walk swept of leaves and snow, pavers laid safely and evenly, and an attractive frame of landscaping set the tone for a positive buyer experience.

On closer inspection, buyers can see that the trim has been freshly painted and that you've put out a cheery new welcome mat by the front door. So how much more work do you need to do to win buyers over?

Since 2003, replacement costs have generated more value at resale than remodeling, according to the latest Remodeling Magazine 2014 Cost vs. Value report. That's good news for sellers who want to ramp up their home's curb appeal.

Read the Full Story Here! - http://realtytimes.com/consumeradvice/sellersadvice1/item/33875-20150327-sellers-ramp-up-your-curb-appeal

08/01/2015

LONG RANGE PLANNING IN YOUR HOA-

A manager of a seniors homeowner association once commented "We have to approach long range planning carefully around here. Many of our residents won't buy green bananas."

While it's understandable that some folks may not relate to long range planning for practical reasons, the truth is that many, regardless of age, live "in the now". This attitude is reinforced by the incredible abundance with which our country is blessed and a sense that no matter what happens, someone will be there to catch us if we fall.

Read the Full Story Here! - http://realtytimes.com/consumeradvice/hoaadvice1/item/33801-20150325-long-range-planning-in-your-hoa

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