How Your Home Stacks Up as an Investment

Is buying your home the best way to increase your portfolio? It depends.
from The Newberry Team - Los Angeles & Orange County Real Estate http://ift.tt/1RIyqBK

Check out this beautiful double door entryway into the living room! What do you think?

via The Newberry Team - Los Angeles & Orange County Real Estate http://ift.tt/1RP1C88

West pushes up sales of new homes in February

U.S. homebuyers in the West accounted for all of February’s increase in sales of new houses, possibly signaling uncertain growth prospects for the broader real estate market heading into the spring buying season.
from The Newberry Team - Los Angeles & Orange County Real Estate http://ift.tt/1WapVTf

Do you love these pops of yellow in this dining room??

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US home sales slump in February; supply shortage hits market

U.S. home sales suffered a steep drop-off in February, reversing months of prior gains as low inventories weigh on the real estate market
from The Newberry Team - Los Angeles & Orange County Real Estate http://ift.tt/21Xm8bt

What is your favorite element of this grand entryway?

via The Newberry Team - Los Angeles & Orange County Real Estate http://ift.tt/1UZ1loL

VA Loans

I was recently talking with the Buyer’s agent when we were closing Escrow on one of my listings.  He off-handedly mentioned that his client had served in the Army during Desert Storm.  Since they had used a conventional loan, I asked why they hadn’t used a VA loan.  He said, “Well, I thought your Seller might pick up any termite work needed, but I didn’t think he’d pick up the closing costs that VA won’t allow the Veteran to pay, and I certainly wasn’t going to pay them, so we went Conventional.”

As someone who served 29 years on active duty in the US Air Force, I was dumb-struck!  When I asked some of my other agent friends, I discovered that none of them will touch VA for the same reason.  I know these fees can be around $8-$10K, but I thought we were supporting our Veterans?  As a result, I thought I’d let everyone know that I will always handle a VA loan, and I DO pick up those fees.  Well, me and my Loan officer.

A VA loan will always have a lower interest rate than a Conventional loan, even when the Buyer is putting 20% down!  There are other benefits to a VA loan as well.  For example, a Veteran with a 680 credit score will often be able to secure a loan that’s a quarter point lower than a Conventional Buyer with a 740 credit score.  In addition, Conventional Buyers have a debt-to-income limit of 45%, where the VA Buyer’s debt-to-income limit is greater than 50%.  Another benefit of a VA loan is that there’s no monthly mortgage insurance required, saving the Veteran hundreds of dollars per month in mortgage payments.  Finally, a Veteran can qualify for up to $687,500 on a VA loan in LA and Orange Counties, where the loan limit for Conventional and FHA Buyers is $625,000.

So, if you’re a Veteran, or know a Veteran, who’d like to buy a home, using their VA benefits, I’d love to talk to you.  I feel it’s a privilege to take care of those who serve.  Oh, and for those who have a VA loan tied up on another property, there’s a good chance I can get that Veteran another VA loan.  Yes, no joke...a second VA loan!  I’ll be more than happy to explain how we can get that accomplished when I speak with the Veteran.