If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now.
As you weigh your options, especially in the face of inflation and talk of a recession, it’s important to understand your assets and how you can leverage them. A real estate professional is the best resource to help you understand how much home equity you have and advise you on some of the ways you can use it. Here are a few examples.
1. Buy a Home That Fits Your Needs
If you no longer have the space you need, it might be time to move into a larger home. Or it’s possible you have too much space and need something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle.
If you want to upgrade your house, you can put your equity toward a down payment on the home of your dreams. And if you’re planning to downsize, you may be surprised that your equity may cover some, if not all, of the cost of your next home. A real estate advisor can help you figure out how much equity you have and how you can use it toward the purchase of your next home.
2. Reinvest in Your Current House
According to a recent survey from Point, 39% of homeowners would invest in home improvement projects if they chose to access their equity. This is a great option if you want to change some things about your living space but you aren’t ready to make a move just yet.
Home improvement projects allow you to customize your home to suit your needs and sense of style. Just remember to think ahead with any updates you make, as some renovations add more value to your home and are more likely to appeal to future buyers than others. For example, a report from the National Association of Realtors (NAR) shows refinishing or replacing wood flooring has a high cost recovery. Lean on a local professional for the best advice on which projects to invest in to get the greatest return on your investment when you sell.
3. Pursue Your Personal Goals
In addition to making a move or updating your house, home equity can also help you achieve the life goals you’ve dreamed of. That could mean investing in a new business venture, retiring or downsizing, or funding an education. While you shouldn’t use your equity for unnecessary spending, leveraging it to start a business or putting it toward education costs can help you achieve other lifelong goals.
Bottom Line
Your equity can be a game changer. If you’re unsure how much equity you have in your home, let’s connect so you can start planning your next move.
It’s no secret that hosting a holiday get-together can be challenging. Between the food, decorating, and getting your space in tip-top shape, who has time to make sure the table looks just right?
The good news is that setting up your table the proper way doesn’t have to be difficult. Follow these tips to impress all of your guests this season.
Utensils
All forks being used should go on the left side, with the one you’re using first on the inside. The knife and spoon should go to the right of the dishes.
Glasses
The water glass and wine glass should both be placed to the right of the plate, in the order in which they will be used. If a champagne glass is set out, it would go farthest away.
Charger
This European-style decoration dish isn’t used for food but is the prime distinction between formal and informal affairs.
Entrée plate
This is where the main course will go, and it should be placed on top of the charger.
Napkin
There are various ways to fold a napkin, but no matter what method you choose, the napkin should be placed on the entrée plate instead of under the silverware.
This November, get out and enjoy some of the great events happening around town. Whether you’re looking for a fun race to run, a festive lantern festival, or a unique craft market, there’s something for everyone. Check out our list of November events below and start planning your outings!
Two New Race Choices! Choose the best race for you and earn a custom finishers medal and a slice of fresh pumpkin pie! Run fast, jog, trot, walk, or enjoy a nice stroll on this flat scenic course. A scrumptious SLICE OF PIE awaits you at the finish. Along with So Cal’s best custom cast finisher medal, you get an awesome shirt and CHIP TIMED. Get your friends and family together and kick off the holidays together! Guaranteed to be a picture-perfect way to start celebrating THANKSGIVING DAY!
Run up a mini appetite with our family-friendly 1 Mile or kick it up a notch with our 5k. For those who plan to really indulge, you can double down and enter our Turkey Feast Combo and run the 1 Mile and the 5k back to back! This flat, friendly course is walker-friendly and stroller ready. Come out and see why it’s become a holiday tradition for thousands of people!
Join us for our 6th Annual Turkey Trot on The Ranch this Thanksgiving Day! This run will happen rain or shine!
Gobble up the scenic beauty and pick your own pace! Join in on the 10K, 5K, or the 1K Little Gobbler’s Run. Come dressed in theme or in running attire! Finish the course with a feathered friend “photo op”!
8:00 AM – 10K Race | Starts at The Pavilion, village of Esencia to Sendero Field
8:30 AM – 5K Race | Starts at The Pavilion, village of Esencia to Sendero Field
10:00 AM – 1K Little Gobbler’s Run | Starts and ends at Sendero Field
Now in its 9th year, we invite you to join us for our annual Turkey Trot OC 5K on Thanksgiving morning at 8 am. Our new goal this year is to raise enough funds to provide 50,000 meals for the hungry and homeless of Orange County! Your participation will continue the work of ending homelessness, one life at a time.
California’s Largest Thanksgiving Day Run Event – The Dana Point Turkey Trot – One of America’s Most Scenic Runs… hosted by The Dana Point Chamber of Commerce. Tour the beautiful beach, majestic cliffs, and coves of Dana Point. This flat, scenic race features a 10k, 5k, and Kids Gobble Wobble. Participants will receive a shirt and medal.
7:00 AM 10K Race
8:30 AM 5K Race #1
9:15 AM Costume Contest at the Start Line
9:30 AM 5K Race #2
10:15 AM Kids 1-mile Gobble Wobble (ages 2-12)
LOCATION: Dana Marina Plaza 34499 Golden Lantern, Dana Point, CA 949-496-1555
Enjoy a wonderful evening with your kids, grandkids, and the entire family at one of our signature events: St. Martin Lantern Parade at Old World German Courtyard in Huntington Beach.
Free tickets for General Admission are available. Lanterns will also be available for purchase. Bringing your own lantern is fine too (only battery-operated ones are accepted on the walk).
LOCATION: Old World Village 7561 Center Avenue Huntington Beach
While higher mortgage rates are creating affordability challenges for homebuyers this year, there is some good news for those people still looking to buy a home.
As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too. Here are just a few trends that may benefit you when you go to buy a home today.
1. More Homes To Choose from
During the pandemic, housing supply hit a record low at the same time buyer demand skyrocketed. This combination made it difficult to find a home because there just weren’t enough to meet buyer demand. According to Calculated Risk, the supply of homes for sale increased by 39.5% for the week ending October 28 compared to the same week last year.
Even though it’s still a sellers’ market and supply is still lower than more normal levels, you have more to choose from in your home search. That makes finding your dream home a bit less difficult.
2. Bidding Wars Have Eased
One of the top stories in real estate over the past two years was the intensity and frequency of bidding wars. But today, things are different. With more options, you’ll likely see less competition from other buyers looking for homes. According to the National Association of Realtors (NAR), the average number of offers on recently sold homes has declined. This September, the average was 2.5 offers per sale. In contrast, last September, the average was 3.7 offers per sale.
If you tried to buy a house over the past two years, you probably experienced the bidding war frenzy firsthand and may have been outbid on several homes along the way. Now you have a chance to jump back into the market and enjoy searching for a home with less competition.
3. More Negotiation Power
And when you have less competition, you also have more negotiating power as a buyer. Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or inspection, to try to win a bidding war. But the latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving those contingencies is going down.
As a buyer, this is good news. The appraisal and the inspection give you important information about the value and condition of the home you’re buying. And if something turns up in the inspection, you have more power today to renegotiate with the seller.
A survey from realtor.com confirms more sellers are accepting offers that include contingencies today. According to that report, 95% of sellers said buyers requested a home inspection, and 67% negotiated with buyers on repairs as a result of the inspection findings.
Bottom Line
While buyers still face challenges today, they’re not necessarily the same ones you may have been up against just a year or so ago. If you were outbid or had trouble finding a home in the past, now may be the moment you’ve been waiting for. Let’s connect to start the homebuying process today.
Enjoy “spooktacular” fun for all ages at SAMLARC’s Halloween Family Festival! Families can trick-or-treat in a safe and welcoming environment, play in bounce houses and inflatables, and enter the costume contest (child, pet, and family categories). Attendees are encouraged to capture their favorite memories at a festive photo booth, purchase refreshments from local vendors, and enjoy music, games, and more.
Entrance is complimentary for SAMLARC members. Be sure to bring your trick-or-treat bags to fill at the booths around the park!
LOCATION: Central Park 30842 La Miranda Rancho Santa Margarita
Join us for a church service at 9:45 or 11:00 am! Children in 5th grade and younger will have a blast in Kid City, then the Pumpkin Palooza fun continues out in the courtyard until 2:00 pm. Plus we’ll have a Trunk or Treat afternoon for the children. Mount of Olives Church
24772 Chrisanta Drive, Mission Viejo, CA 92691 Church Office: 24851 Chrisanta Drive 949-837-7467
Mission Viejo, come on back to Kaleidoscope for Halloween!! We’re keeping the festival theme going with a Halloween twist. We’ll have a costume contest, trick-or-treating for the kids., a bounce house, and of course SHOPPING!!
This event includes a costume contest and best trick contests on various obstacles throughout Skate Park. Additional event activities include games, food, giveaways, and raffles. Registration includes participation in best trick competitions and a raffle.
*Contest entry is $10 for annual pass members and $20 for non–members until October 28th
LOCATION: Laguna Niguel Skate Park 27745 Alicia Pkwy Laguna Niguel, CA 92677
For the past years, FALL FEST has become a favorite event for families to enjoy on Halloween night. Costumes are welcomed…and encouraged. Bounce house, giant slide, pony rides, and more!
But please, for the sake of our younger guests NO SCARY COSTUMES.
LOCATION: Compass Bible Church 150 Columbia in Aliso Viejo – There will be PLENTY OF PARKING and an event drop-off zone available onsite.
Get in the spirit of Halloween by joining the Historical Society Walking Tour Guides on a spooky walking tour of Los Rios Street, the oldest residential neighborhood in California. Be prepared for creepy tales of big black dogs, strange monks who have lost their heads, and ghostly tales about a lady in white who have all been seen in this area.
LOCATION: O’Neill Museum / Historical Society 31831 Los Rios Street San Juan Capistrano, CA
Come to Ocean Institute for Spooky Seas with new family-friendly frights from bioluminescence laser tag to the mad scientist laboratory there’s something fun for the whole family to enjoy! Bats & ghouls – come in costume to participate in our costume contest, trick or treat throughout the night, and enjoy food, drinks, and alcoholic drinks available for purchase.
LOCATION: Ocean Institute 24200 Dana Point Harbor Dr. Dana Point
The Spooky Treat Trolley will be making stops at the following park locations and handing out treats for children up to 12 years of age. The trolley features elaborate decorations, Halloween-themed music, and the City’s Recreation staff dressed up in costumes. Get in the SPIRIT and come dressed in costume!
LOCATIONS: Spooky Treat Trolley Stops: 3:30 pm-4:00 pm Pines Park, 34941 Camino Capistrano 4:30 pm-5:00 pm Sunset Park, 34345 Calle Naranja 5:30 pm-6:00 pm Dana Woods Park, 24900 Dana Woods 6:30 pm-7:00 pm Sea Canyon Park, 33093 Santiago Drive
Walk through 2.5 acres of the most haunted mansion on the block! Werewolves, vampires, and ghosts are waiting behind every corner of our historic home, and you can bet on plenty of creepy crawlies in the gardens. Casa Creepy Haunted House is suitable for most families with children ages 8 and up; please use your discretion. Costumes are encouraged; costume masks are not allowed but medical masks are allowed.
$15 ages 13 & up • $10 ages 12 & under
LOCATION: Casa Romantica Cultural Center and Gardens 415 Avenida Granada San Clemente, CA 92672
We’re all treats and no tricks here in the city! Come be a part of our special trick-or-treat extravaganza as our Pretendgineers give away some neat surprises! This party is bound to be a scream! Stop by the museum and take part in our Halloween party inside the Art Studio as well as trick-or-treat at different stations throughout the city! We will surely have a ghostly good time!
Trick-or-Treat in the city! Families will be encouraged to come in costume and engage in a trick-or-treat in the city! We will have multiple stations throughout the city that families can visit for a special treat!
Wallpaper is making a big comeback as a stylish way to dress up walls. Interior designers and homeowners alike have long used wallpaper to add style and personality to a room. In recent years, there has been a shift away from traditional patterns and towards more modern designs. However, the current crop of wallpapers is beginning to show its age. If you’re looking for something new and stylish, here are some of the hottest wallpaper trends for 2022.
One of the biggest trends next year will be grass-cloth wallpapers. These styles are made from natural materials like jute or bamboo, giving them a textured look that is both stylish and earthy. Grass-cloth wallpapers are also available in a variety of colors, making it easy to find one that matches your existing décor.
Another popular choice for 2022 is metallic wallpaper. These styles can help to brighten up a space and add a bit of luxury. Metallic wallpapers come in a wide range of colors, including gold, silver, copper, and even bronze. If you’re looking for something truly unique, you can even find metallic wallpapers with patterns embossed into them.
Prints are also making a comeback in a big way next year. Floral prints have been popular for centuries, but they’re currently enjoying a resurgence in popularity. If florals aren’t your thing, there are also plenty of other prints to choose from, including geometric designs, abstract patterns, and even animal prints wallpaper trends showcasing trends that will be hot in 2022! Whichever style you choose, make sure to select a high-quality wallpaper to ensure it lasts for years to come.
Are you looking to buy your home in Orange County? The home-buying process can take up to six months, a year, or even longer. Wouldn’t it be nice to finally own your home as soon as possible? Here are some tips to how you can buy your dream home faster and smarter.
But first, ask yourself these questions:
What type of home am I looking for?
Do I have a good enough credit score to buy a home?
Do I have any debt that can potentially affect my home-buying process?
Do I qualify for a mortgage?
What type of mortgage would best suit me?
Answering these questions will allow you to assess whether you are ready to begin and go through the home-buying process as well as understand what bumps might come into the road. Once you have the answers for these questions, you are ready to begin the home-buying process.
Be on Top of Tracking New Listings
Once you know what you are looking for in your home search, being tracking down new listings that meet the needs and wants you have for your dream home. You can even sign up for automated emails with your local agent to stay on top of all the listings that pop up and fit your needs. Being on top of new listings is a good strategy for having an edge over other buyers because it shows sellers that you are able to potentially make an offer before another buyer sees the listing.
Look For Down Payment Assistance
Did you know that homebuyers could qualify for over 2,200 different down payment assistance programs that are offered nationwide? These assistance programs were created to help homebuyers by providing low-interest loans, grants, and tax credits. Homebuyers who sought out down payment assistance in the past have saved an average of $17,766 between upfront savings and lower mortgage payments throughout the life of their loan. Homebuyers can become eligible for down payment assistance by meeting requirements such as income, occupation, or credit.
Make Sure Your Finances Are in Order
Closing times for the home-buying process nowadays are getting longer and longer. A recent report by Ellie Mae, a software company that processes almost a quarter of U.S. mortgage applications, revealed that it now takes 50 days on average for a buyer to reach closing while it took 40 days in 2015.
In order to close faster in the home-buying process, make sure your finances are in order by getting pre-approved for a home loan before submitting an offer on a property. This is why it is important to assess your finances and financial capabilities before starting the home-buying process. A mortgage pre-approval involves a lender running a credit check and verifying a buyer’s income and assets.
The home-buying process may seem difficult, but it is possible to get through it quickly and smoothly. If you have any questions or if you need any help, contact the Kovacs Connection Team today!
Are you trying to sell a small home in Orange County? One of the biggest components that contribute to a successful sale is how you stage your home, so having a small home does not mean a trickier sale. Follow these steps to see if you are being the most successful in preparing a small home for sale.
1. Say Goodbye to Clutter
The most important thing you can do to prepare a small home for sale is to get rid of any clutter. Clutter makes a home look unorganized and usually is a result of having too much furniture. This may make a small space feel even smaller! Take a hard look at the pieces of furniture you currently own and consider what you can live without. An organized layout comes a long way when you have a reasonable amount of furniture and more open space to work with.
2. Rearrange Your Furniture
Rearrange your furniture to organize the layout of your home. In the living room, symmetrical arrangements work well. A home can look more organized with furniture that is in pairs as well as pulling furniture away from the walls. Place pieces so that the traffic flow in a room is obvious. This will create a more open and walking space to make your home feel spacious yet inviting.
3. Strategize the Use of Mirrors
Mirrors can do more than allow you to see your reflection. Mirrors can brighten a dark room and make a small space look much bigger by reflecting natural light. Placing a mirror either next to or directly across from a window can also help by adding more depth to your home.
4. Let Light In
Having good lighting in your home is one of the biggest aspects that can help make a small space seem larger. Good lighting can come from how much natural sunlight can be let in as well as the type of lighting you use in your home. Here are three types of lighting to consider implementing into your home:
Ambient (general or overhead),
Task (pendant, under-cabinet or reading)
Accent (table and wall)
An added bonus is that this will also help make your home feel warm and welcoming!
5. Utilize Rugs
The larger an area rug, the more spacious the room will seem. Having small rugs can actually make a home seem smaller because it makes the space seem choppy. Situating rugs under groupings of furniture can help add contrast to your home to help organize the different sections of your home. This will overall allow you to have a more organized layout in your home because not using any rugs in your home can make the space look like a big maze of furniture.
6. Take Down Decorations and Artwork on the Walls
Walls with a blank space gives a room a chance to breathe. Taking down the decorations and artwork on the walls also contributes to decluttering your home to make it more organized. Having open walls can also make a small space feel bigger.
7. Take Your Doors Off Their Hinges
Removing all your interior doors besides the ones that lead to bedrooms, bathrooms, and closets can help your home feel more open. This allows a small space to feel larger as if there is more room to walk around.
Successful staging a small home may seem difficult, but it is not impossible. If you have any questions or if you need any help, contact the Kovacs Connection team today!
The kitchen may be one of the rooms in your home that is the easiest to get cluttered. Keeping your kitchen clean does not only involve washing the dirty dishes in the sink and wiping down the stove or dirty counters. A crucial step in maintaining a clean kitchen is making sure that everything in the kitchen is organized, whether they are items that are out in the open or whether they are items stored in the cabinets and drawers. This may include your plates, bowls, silverware, spices, ingredients, and more.
On top of these steps, it will be helpful to make a weekly checklist or kitchen maintenance sheet to make decluttering a habit. Keeping your kitchen clean is not a one-time-thing, but is an ongoing effort.
1. Clear off your counter tops.
Counter tops are the first things that catches the eye when you walk into a kitchen. The biggest tip to having a cleaner kitchen is making sure you have the least amount of items stored on your counter tops. To be able to do so, utilize all your storage space to keep all the items in your kitchen out of sight. If there are loose items that do need to be kept out, place them into pretty baskets or bowls.
Making it a habit to clear and organize your counter-tops often even allows you to have the open counter space every time you need it, so you don’t have to make the extra effort to push things aside or place items in random places when you do need the extra room on the counter.
2. Keep what you actually use/need.
One of the biggest components of a cluttered kitchen is having more dishes, utensils, and cups than you actually need. You should only need to keep just enough for regular use and for gatherings. To better identify what needs to be thrown out on top of this, look out for the dishes that have chips or cracks in them.
If there are any spices or ingredients you have only used once for that one recipe you made in the past, throw those out too. Those items will not only take up space in your kitchen, but may not even be used any time in the near future, so there would be no purpose in keeping them.
3. Utilize simple and affordable storage racks and lazy susans.
Storage racks and lazy susans are a good investment because they may go a long way in helping you with both organizing your kitchen and making your life easier the next time you’re looking for condiments or spices.
Using storage racks may allow you to stack your bowls on top of your plates without the hassle of difficult access to either. Using the height of your cabinet in this case allows you to place more things in the cabinet that you might have kept on your counter tops. Utilizing the height of your cabinets and shelves over the width of your cabinets and shelves allow you to have more space available for storage.
Using a lazy susan by grouping condiments and grouping spices will allow you to find what you need with a quick spin rather than digging through your cabinets.
4. Utilize storage containers and labels.
All the different sizes of the boxes and containers that your foods and ingredients came in may make your cabinets look cluttered. The best way to approach this is to repackage all those foods and ingredients into storage-friendly containers that allow organization,easy-access and decor to your kitchen. After repackaging, organize the containers into your shelves and cabinets according to their purposes. Then, use labels on the containers, shelves, and cabinets to create a user-friendly organizing system for you and the others in the household so everyone will know where to find things as well as where to put things away.
5. Group the items that have similar purposes.
Start by grouping the items in the kitchen that have a similar use and create zones for them in different parts of the kitchen. For example, all the mixing bowls and baking necessities can be organized in a specific shelf or drawer of itself so that the next time you bake, you will have all you need in one area. This helps you refrain from rummaging around all the shelves and drawers in your kitchen to find that one utensil you need, avoiding a future mess.
The kitchen is the perfect place to start because it is probably one of the areas of your home that you are in on a daily basis, making it easier to get cluttered. In order to take preventative measures, it is crucial that you tidy up the kitchen consistently. Keeping your kitchen organized is just one part of cleaning your home.
A clean home is a happy home. Happy tidying!
If you need any assistance, contact the Kovacs Connection Team today!
Your credit score is one of the most important aspects that determines how much you can qualify for when applying for a loan.
Here are the credit tiers to gauge where you stand:
Excellent Credit: 750+
Good Credit: 700-749
Fair Credit: 650-699
Poor Credit: 600-649
Bad Credit: Below 600
Building your credit is not a quick or easy process, but it is possible with some careful thought and help from your loan officer! Here are some tips that you can look at to ease the process of improving your credit score and to make sure you are headed towards the right direction.
1. Regularly Check Your Credit Report
The first step to improving your credit score begins with checking your credit report frequently. A few places you can check your credit report are Experian, Equifax, and TransUnion. Your credit report will reveal to you why you have the credit score you have. But don’t always fully trust your credit report! Make sure to go through them thoroughly to check for any inconsistencies.
It will help to ask yourself these questions:
Is all your personal information correct? (includes your social security number, birth date, full name, and address)
Are all of your credit accounts being reported?
Are there any late or missed payments listed that you remember making on time?
Are there any accounts or applications for credit you don’t recognize?
Are there any items from decades ago still appearing on your report?
2. Pinpoint What You Need to Improve
After analyzing your credit report, make a list of what went wrong so that you know where to pinpoint what you need to improve.
One of the biggest contributing factors to your credit score is whether you are making your credit payments on time. Creditors see you as a bigger risk when missed payments become a habit. A history of missed payments will make creditors skeptical towards allowing you to take on more credit. If this is the case, try setting up payment reminders to help you pay your bills on time.
3. Create a New Game Plan
This new game plan will help you improve and maintain your credit score. To begin improving your credit score, you should aim to keep your credit card balances on the lower end along with any other type of revolving credit you may have.
This may involve fixing your late payments first to get yourself back on the right track. You can try asking your credit card issuer if they can fix a late payment. Credit card companies are usually pretty forgiving if you have a long track record of making on-time payments.
Don’t let past mistakes keep you from improving your credit score. Improving a credit score takes time, but it’ll be completely worth it. Since the process is not a quick fix, the best thing to do to improve your credit is to manage it responsibly over time and to get tips from your loan officer. If you need any assistance, contact the Kovacs Connection Team today!
