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New laws and loan processes are making it easier to buy a home The real estate market has been a rollercoaster for home buyers since the pandemic started. Mortgage rates dropped to record lows (down), the number of houses on the market also tanked (down), and homes started selling in record time for record-high prices (up). What a carnival ride! Some home buyers have thrown in the towel searching for their dream home. It has definitely been a sellers’ market. Yet as competitive as the market has been, changes to the loan process and new laws are making it easier for some Americans to buy homes. I know what you’re thinking: it doesn’t feel that way! Take a look at these changes that have boosted your opportunity to become a homeowner and make the move you’ve been dreaming of. Prop 19 Property Tax Changes One of the big advantages of staying in a home for decades is having a low property tax rate. If the home doesn’t meet your needs any more, you can feel stuck. Moving could mean a shock to your finances with a higher tax rate—especially if you’re on a fixed income. That is until Prop 19 passed in California this year. Now seniors, people with severe disabilities, and victims of wildfire have the option to transfer their current property tax rate anywhere in the state! And there’s no cap on the value of the new home. Homeowners who qualify can now buy a new home anywhere in the state, for any price, while transferring the current tax rate up to the value of their old home up to three times. Learn more here: (Insert prop 19 link) Rental History Consideration Got some dings on your credit report? Are you afraid your credit is holding you back from qualifying for a mortgage? I have good news for you. Fannie Mae is now considering rental payment history when underwriting loans for buyers. This means potential homebuyers with insufficient credit will have a better chance of getting approved for a mortgage. Factoring in Accurate Student Loan Debt Are you renting and feel like paying a mortgage in combination with your student loans is impossible? The Federal Housing Administration (FHA) is taking steps to make it easier for borrowers with student loan debt to qualify for a federally insured mortgage. With a new policy in place, lenders now calculate a borrower’s student loan month payment based on the actual student loan payment, which is often lower than previous calculations. What does this mean for hopeful homeowners? More people will be able to meet the minimum eligibility requirements for an FHA-insured mortgage. 40 Year Mortgage Option For Americans struggling during the pandemic, mortgage forbearance was a saving grace. But what happens when payments resume? One option being considered right now is allowing homeowners to catch up on payments by refinancing with a 40-year mortgage. As home prices and mortgage rates climb, a 40-year mortgage could also help combat the affordability problem with lower payments for new homeowners. Are you ready to explore some of these options for buying or selling? Contact me anytime with questions. –Melissa

Today’s real estate market is intimidating. For young couples looking to buy their first home, for families who have been working hard to save that down payment, and especially for single moms, dads, and anyone with one income. Solo purchases represented only 28% of the overall market in 2021, but it appears that a change is brewing thanks to millennial women. Millennial women make up the largest demographic in the U.S. who are making independent home purchases. That’s right—48% of independent, first-time homebuyers are single women with a median age of 33, according to a recent study by Hippo. Even though the pandemic recession hit women hardest (especially women of color) and forced them out of the workforce at a greater rate than men, we’re continuing to see more single women buying homes than single men. Women Achieving Homeownership Women are shifting from the traditional path to homeownership. A recent survey from Bank of America reports that 65% of single women prospective homebuyers would rather not wait for marriage to buy. What’s more, 30% of married women purchased their homes with they were single. Whey wait for marriage to start investing in your future? Interestingly, the Hippo survey found that 82% of first-time women homebuyers felt that the pandemic accelerated their decision to buy a home. I’ve helped single women sell their homes and achieve their dreams of being an independent homeowner. The first step to achieving this goal: believing that it is possible. “I was intimidated by the fact that housing prices in California sounded like so much money. It didn’t seem possible,” said millennial homeowner and past client Emily Laskey. “The best thing I did for myself was find out what I qualify for, what a payment would look like, and how that would affect my budget. I wish I had actually bought a house sooner and put the misconceptions aside in my mind.” Tapping into the Market’s Hot Spots Despite the stereotypes, misconceptions, and gender pay gap, not only are millennial women outpacing men in buying homes, they’re also putting down larger down payments. Hippo reports that 41% of millennial women put more than 20% down, while NerdWallet reports the average down payment for a first-time buyer is 7%. What does that tell us? Women are shedding traditional views of owning a home, honing in on saving for a down payment, and taking advantage of the current market. With record-low mortgage rates holding steady, millennial women are seizing the opportunity to cut tens of thousands of dollars off the life of a home loan. Even more advantageous than low interest rates? Cashing in on soaring equity. This year, I’ve worked with several women who jumped into the seller’s market and used their equity to make their next big life move. Yes You Can! How to Start Your Path to Homeownership Are you a single lady who is ready to overcome the intimidation factor and start building equity? Here are some first steps and things to keep in mind as you start the process: Get prequalified. I’ll help point you in the right direction to get pre-approved for a home loan. This will help you find out how much you can afford immediately and set a budget. If the loan amount works for you, preapproval means you can start your home search right away. Don’t limit yourself to the type of home. When most women begin a home search, they automatically think a condo is the best fit. While condos are a great fit for many women, keep in mind that single-family homes gain equity faster. Outsourcing services like gardening and repairs usually equal the same amount as HOA fees. Know your financing options. Another misconception is that you have to put a 20% down payment on a home. I’m here to tell you, that’s not true! Don’t let this misconception make you delay buying a home. You don’t have to drain your savings account and can qualify for as little as 3.5% down or 0% down if you’re a veteran or qualify for a first-time homebuyer’s assistance program. Not right now doesn’t mean never. It might not be your time to buy a home—but that doesn’t mean it won’t happen! If you’re determined to become a homeowner, you can do it. Understanding what’s holding you back is the first step to shaping your future. Whether purchasing their own homes or capitalizing on the seller’s market, my female clients continue to wow me with their perseverance, focus, and confidence. If you’re ready to jump in head first or have some initial questions on selling your home or becoming a first-time homeowner—I’m here to help! Contact me any time. –Melissa

In the midst of the pandemic, an important piece of legislation was passed and put into effect: Proposition 19. The California Association of REALTORS summarizes the benefits of Prop 19 below: "With the passage of Proposition 19, homeowners who are 55+, severely disabled or victims of wildfire or natural disaster may transfer their property tax base of their existing home to a new home anywhere in California without price restriction. Prop 19 new tax benefits for homeowners 55+, severely disabled, or victims of wildfire or natural disaster, as of April 1, 2021 include: Moving anywhere in California: Prop 19 removes location restrictions on property tax transfers allowing the transfer of the property tax base of an existing home to a new home anywhere in California. Moving to any home regardless of price: Prop 19 removes price restrictions on property tax transfers allowing the transfer of the property tax base of an existing home to a new home regardless of price (with an adjustment upward to their tax basis if the replacement property is of greater value). Transferring the low property tax base of your original home to a new home up to THREE times (or more for victims of wildfire or natural hazard)." The question now in March 2022 is whether homeowners have taken advantage of Proposition 19. Part of what needs to happen for Proposition 19 to be utilized is the education side. Not all homeowners are aware of Prop 19 -- and many might confuse it with previous policies like Prop 60/90. "Although official statistics from the State Board of Equalization and from individual county assessors is not expected to be available for some time, there are some preliminary indications that some homeowners are taking advantage of recently enacted changes to move to a new home without losing their Proposition 13-protected property tax base on their current home." Approximately 1 in 3 REALTORS reported that they had worked with a seller who has or will transfer their property tax base to another home.* What was the motivating factor for those sales? What prompted those sellers to put their homes on the market? "For nearly 1 out of 4 of those, the ability to transfer their property tax base was the motivating factor in the sale, which suggests that property tax portability could help to unlock some additional inventory in 2022." (Market Minute) Does the idea of transferring your tax base to another home in California sound attractive to you? Are you curious about whether you could buy a home and then sell the home? Call, text, or email me today and I can provide you with additional information. –Melissa Source: **CAR.org *https://www.car.org/marketdata/marketminute

Not sure what you’re walking into when buying or selling a home? You need a dedicated Real Estate Agent advocating on your behalf. Here are 7 ways your agent should support you. Picture your first time meeting a REALTOR. They unlock the home of your dreams and open the door. You walk in, love the home, and are ready to put in your offer. But do you know what you’re REALLY walking into? Buying or selling your home is complicated, messy, stressful, and downright scary! But as your REALTOR, my job doesn’t just start with opening the front door during a showing, and it definitely doesn’t stop there. It is my job to field all the curveballs and answer your questions to minimize your stress. From your very first home showing until the day you close on your new home. Here are some of the ways a dedicated REALTOR—myself included—should support you throughout the buying and selling process. Strategy: In today’s competitive housing market, having a strategy in place before you step foot into a potential home is key. When working with buyers, I sit down with my clients and review how we’ll play our cards right over the competition. We discuss budget, location, flexibility, and any other factors that offer an advantage. I also help the buyer navigate financial options that they might be unfamiliar with. When selling a home, I perform an in-depth analysis of the local market to ensure we list at the right price. My Interior Design partner develops a vision for prepping a home for the market and we execute our strategy—from cleaning and organizing, to investing in minor upgrades, to staging, and marketing. It’s all hands on deck to put our best face (or front door) forward! Writing a Winning Offer: With an average of five offers per home, writing a competitive offer in today’s market is one of the most valuable resources a REALTOR can provide. It is important to communicate with the client that the highest bid doesn’t necessarily always win. It’s about understanding what could motivate the seller and make your offer shine – as well as being available and professional with the listing agent so that they know that we are reliable. Negotiations: Master Facilitator – that is my nickname. I was fortunate that I entered the real estate business as an established marketing professional. This means you get a REALTOR with a trained eye to spot patterns and trends and who will go to bat for you for price, home improvement, and other contract negotiations. Emotional Support: Even the smoothest of home purchases comes with its bumps. A great REALTOR will prepare you for the potential curveballs when buying or selling and be there for you if things don’t go as planned. Sure it’s business—but emotions can run high on both sides of the transaction. My job is to remain calm and collected as we work through any obstacles. Translate Contract Language: If it is your first time buying a home—or it’s been a while since you did—real estate language can sound a lot like gobbledygook. A REALTOR walks you through the contract and reviews disclosures with you to ensure you clearly understand the buying/selling process. Legal Protection: If you’re considering selling your home, then it may have crossed your mind to go the For Sale By owner route. After all, keeping thousands of dollars in your own pocket that you would typically pay a real estate agent in commission DOES sound appealing. Selling your home without a Real Estate Agent is not only difficult, but risky. There are so many nuanced legal aspects that go into the transfer of real property: ensuring title, escrow, required disclosures, and communicating with the buyer in an objective way. My role as a REALTOR is to guide you through the sale of your property and advocate on your behalf. Trusted Resources: When you work with a trusted REALTOR, you don’t just tap into their knowledge and experience. You also gain access to a rolodex of their trusted resources. Need an amazing lender who can get you prequalified today? Need help transforming the house you just bought into a home? How about movers? I’ve got you covered. Not sure what you’re walking into when buying or selling? I do. I walk the path of real estate every day. I’d love to help. Reach out any time! –Melissa

Most people don't decide to up and move on a whim! The time, money, and energy involved mean that you have to be motivated. The good news is that your Real Estate Agent (me) guides you through the whole process. Here are 7 Home Selling Myths that we are busting! You have to do Repairs Some cities require pre-sale inspections, but in general, repairs are not required by law. Carbon monoxide devices, smoke alarms, and water heater bracing are required. Repairs are a point of negotiation. Lenders could have requirements. Price High to Get More Money Selling a house is not the same as selling a car. You aren’t asking for "Or Best Offer" (OBO). Pricing at market or right below market value gets the most interest, more offers, and puts you in a position of strength to counter for the “highest and best offer”. Spring & Summer are the Best Time to List The pandemic changed the traditional seasonality of listing. The best time to list is when you need to move. The best time to list is when there are fewer homes on the market. All Real Estate Agents Do the Same Thing Not all real estate agents are the same. At KALEO, we have a high level of communication and 5 star experience as our standard. We list homes with professional photos, drone video, 3D virtual tours, and a comprehensive marketing package. We can host open houses, broker’s open houses, or private showings depending on your needs. You should never accept the 1st Offer The first offer could be your only offer and your best! Some properties only get 1 offer on the home because it is very unique. If you want to hold out for more offers, you always can, but it also means your days on market are increasing. Remodeling has a Return On Investment (ROI) Many homeowners believe that if they remodel a bathroom and spend $50,000 that they will make that money back when they go to sell. Not all remodels have a one-to-one relationship with increased value. Living Trusts Complicate Deals Many homeowners hold title to their property in a living trust, for example: the Garcia Family Trust. This doesn’t mean selling is more complicated for you when you choose a team like KALEO! We have experience selling homes that are held in living trusts. We have done probates and properties where there is a successor trustee because the original trustee has passed away. Visit our company YouTube Channel to watch the full video on 7 Home Selling Myths: Part 1:https://youtu.be/igz-2jtHa48 Part 2:https://youtu.be/6pjbMzZEPlE Part 3:https://youtu.be/zSAyiFxqjag Are you considering buying or selling this spring or summer? Then send me a message, email, or call me and we can chat! - Melissa

From First-Time Buyers to Seasoned Investors—Why Every Homeownership Journey Deserves to Be Celebrated In business, and in life in general, it's so easy to keep going, keep working, keep your nose down and keep hustling. And while that’s important, it's nights like these that remind us why it's also so critical to stop, reflect, and celebrate every hurdle, every lesson, and every milestone. 🙌🏽   The last four years in real estate haven't been for the faint of heart. From achieving Diamond Club two years in a row, to now achieving Platinum for the second year in a row, these accolades represent more than my work. They represent the grit and tenacity of my amazing network.  🥳💪🏽 To the veterans in the field, we know getting our license is just the beginning. Thereafter, it's what YOU make of it. For me, it’s about setting my own standard of excellence. Meeting my clients where they are in life and growing with them. From helping families who have been turned away from opportunity because of language barriers or those who don’t know where to begin and are too afraid to ask. I’ve built my business on empowering a generation of FIRSTS: the first person in their family to buy a home, the first-time home seller who is ready for the next chapter of homeownership, and the first-time investor navigating unknowns. It’s these people, intent on building better futures, who fuel me and my team, and it brings us no greater joy than to be in their corner. 🫶🏽 We've cried tears of joy with our first-time homebuyers, and have gone furniture shopping with our "leveling-up" sellers as they move into their dream home. Our first-time investors never stop hearing how proud we are of them! And when faced with the difficult decision of selling the home of a loved one who's passed, every action is done with dignity and grace.THANK YOU for the opportunity to serve YOU! I’m in my 18th year in real estate and we’re not slowing down any time soon 😉. Let’s do this!

Inflation. The rising cost of our weekly grocery trip, filling up at the gas pump, and summer travel plans: everything is more expensive. For buyers in the real estate market, inflation is a concern as mortgage interest rates and home prices continue to climb.  Even though it is a seller’s market, existing homeowners are affected by inflation. One of the advantages of owning a home is locking in a mortgage amount for the life of your loan, however, the cost of maintaining a home can certainly fluctuate.  Whether you are a new homeowner, hope to be one soon, or have been a homeowner for many years, here are 3 ways you can offset inflation and the cost of homeownership.  Number 1: Reassess Your Home Insurance I recently had a client call me in a bit of a frenzy—she received a notice that her mortgage was going up by $200 a month. What was happening?! When taking a closer look, we realized that it wasn’t her mortgage that was increasing, but her homeowners insurance.  If you’re a current homeowner, then you’ve probably received a similar notice before—an annual escrow account disclosure. If you have a shortage or surplus in your escrow account (the account that pays your property taxes and homeowners insurance), then your mortgage company will calculate your new payment amount for the following year. If you have a surplus, you’ll receive a refund check in the mail and if you have a shortage, then you typically have the option to pay the shortage in full or break it down monthly.  With changing wildfire risk zones and the rising cost of building materials, don’t be surprised if you receive a similar notice letting you know that your homeowners hazard insurance is increasing. For my client, the increase was just not feasible with her current budget. She called her insurance company and was able to significantly decrease her premium by bundling her auto and RV insurance with her home and increasing her deductible.  Checking in with your insurance agent regularly is a good idea. Asking for discounts, reporting updates to your mileage, and reconsidering your deductible are all ways you can reduce costs while still protecting your assets with the right amount of insurance. And remember—getting a quote is free! Number 2: Stay on Top of Home Maintenance One of the biggest costs of homeownership can be repairs to your home, replacing appliances, updating landscaping, and maintaining the structural integrity. To prevent future large bills, now is the time to get into a home maintenance routine if you don’t have one already. Think of it like changing the oil in your car—would you rather invest time and money on an oil change every few months or on a new engine?  If you can afford to outsource some maintenance – weekly lawn mowing, sprinkler repairs, tree trimming or gutter cleaning – then that’s great. Much of home maintenance can be accomplished yourself. If your weekly lawn maintenance is costing you $80 per week, but you can buy a lawn mower from Lowe’s for $100 then you will be in the green (no pun intended) within the first month. Plus, count that lawn mowing as a workout and you can feel even more productive!  One of the key features of your home to make sure you stay on top of is the HVAC system. Make sure to change your filters regularly to keep your system running smoothly. For appliances, make sure to check your filters as well, clean out dryer vents, and run the cleaning cycle on your washing machine.  If you have a pool, then you can take a sample of your water to your local pool supply store for a report and tips for maintaining your pool’s chemistry. These are just some ideas—here’s a great resource calendar for staying on top of your home maintenance. (where is the calendar)  Number 3: Take Advantage of Utility Savings Programs Many utilities such as SoCal Edison and SoCalGas have programs in place to save homeowners money during the summer and year-round. You may have to meet certain criteria to qualify, but if you do, these programs can be a great way to save some money.  Edison’s Energy Savings Assistance program helps qualified customers receive energy-efficient appliances at no charge or a minimal charge. The company also has programs in place to lower energy bills, including their Summer Discount Plan, Smart Energy Program, CARE and FERA programs, and one-time bill assistance.  SoCalGas also has a number of rebates and programs available to help you cut costs. One popular program is the Residential Advanced Clean Energy program which offers a complimentary walkthrough energy assessment and the installation of energy technologies to help make customers’ homes more comfortable and help conserve energy, which could lead to lower utility bills. We are all feeling the pinch and looking for ways to stretch every dollar. I hope these tips can help save you some cash. What are some other ways you are offsetting inflation at home? I’d love to hear them!  –Melissa 951-741-8441 [email protected]