Author: Ali Palacios - Broker

Happy Clients Realty Group - Ali Palacios > Articles by: Ali Palacios - Broker

Bolognese Sauce

Posted on by Ali Palacios - Broker

 

INGREDIENTS

  • 1/2 cup extra-virgin olive oil
  • 1 medium onion, finely diced
  • 1 large carrot, finely diced
  • 1 medium celery rib, finely diced
  • 1 pound ground beef
  • 1/2 pound ground veal or 1/2 pound ground pork
  • 5 large garlic cloves, chopped
  • 1 cup dry white wine
  • 2 tbsp tomato paste
  • 3 cans of small diced tomatoes
  • 1 cup water
  • 1 bay leaf
  • Salt and freshly ground pepper to taste
  • Freshly grated Parmesan, for serving
  • 1lb pasta

DIRECTIONS

Cook onions, celery, carrot, and garlic in oil. Use a 8-quart heavy pot over moderate heat, stirring occasionally, until softened, about 5 minutes. Add Beef and veal/pork and cook over moderately high heat, stirring and breaking up lumps, until browned, about 6 minutes. Stir in tomato paste. Cook for 4-5 minutes on low heat. Deglaze the pan with wine, water, add diced tomatoes, gently simmer, covered, until sauce is thickened, 1 to 1 1/2 hours. Add salt and pepper and remove from heat.

Cook the pasta for 1 less minute than stated on package. Toss into sauce and finish cooking. If needed add a little pasta water into the mix. The sauce should evenly cover the pasta. Add grated parmesan cheese to taste and stir.

Serve with more parmesan cheese 🙂

 

VARIATIONS AND TIPS

  1. Sauce may be made 3 days in advance, cooled before you refrigerate. You can also freeze the sauce (no pasta) for up to 2 months.
  2. This same sauce can be used for lasagna, so yummy!
  3. Add chili spices (2 tbsp chili powder and 1 tbsp cumin) and 1 can of beans to make a great chili.  Serve with corn bread or fritos. Top with cheddar cheese and onions

Pecan and Dulce de Leche Pancakes

Posted on by Ali Palacios - Broker

Makes approximately 12 6in pancakes

INGREDIENTS

  • 2 cups buttermilk (or regular milk with 2 tbsp of white vinegar or lemon juice)
  • 3 eggs
  • 1 teaspoon pure vanilla extract
  • 2 cups all-purpose flour
  • 1 1/2 teaspoons baking powder
  • 1 teaspoon baking soda
  • 1 tsp salt
  • 3 tablespoons dulce de leche
  • 1/2 cup pecans, toasted and finely ground (not chopped)
  • 1 cup Candied Pecans rough chop
  • 1/2 stick unsalted butter, melted

Service with dulce de leche on top

DIRECTIONS

Mix all the ingredients through the ladies pecans together until smooth. Melt a little butter in a sauce pan, medium heat, pour a ladle full of batter into the pan. Cook on one side until all bubbles have popped, flip pancake. Cook for 1 min or until golden brown. Repeat until all the batter is all used. Keep warm. Serve with dulce de leche or butter and maple syrup.

 

VARIATIONS AND TIPS

  1. Looking for just regular buttermilk pancakes? Remove the dulce de leche and pecans
  2. Have extra pancakes? freeze then individually and heat then up as needed in the microwave.

 

Asian Style Pork Belly

Posted on by Ali Palacios - Broker

 

INGREDIENTS

  • 1.5 lbs pork belly, cut in 1 in pieces
  • 1/2 cup Chinese rice wine
  • 4 tbsp soy sauce
  • 1 tsp grated ginger
  • 2 tbsp of brown sugar
  • 1 tbsp fish sauce
  • 1 tsp sesame oil
  • 2 cloves garlic (whole)
  • 2 star anise
  • 1 bunch Green onions (sliced)

Serve with steamed white rice

DIRECTIONS

Brown the pork belly pieces in small batches (do not crowd the pan) until brown. I used an electric pressure cooker, the sauté function. Once all pieces have been browned add them back to the pot and toss in all the rest of the ingredients except the green onions. Add 2/3 cup water. Cover the pressure cooker and set for stew setting.

Once the setting is complete, uncover the pressure cooker and turn the sauté function back on. Cook until the sauce reduces and becomes as thick has honey. Stir several time so that the pork is even coated.

VARIATIONS

  1. I make a cuban style pork belly. Pork is cut into 1in pieces and browned as stated above. Add the pork back into the pan with 1/2 cup orange juice, the juice of 1 lime, 5 cloves of garlic, 3 packages of saloon Goya, 1/4 tsp dried oregano, 1 small sliced onion, 1 tsp salt, 1 tsp black pepper. Once the pork is cooked in the pressure cooker you will once again open the pot and set it to sauté. Cook until the pork is dark brown, stir often.

Italian style burgers

Posted on by Ali Palacios - Broker

Makes 4 patties

INGREDIENTS

  • 1 lb beef or turkey
  • 1 egg
  • 1/2 cup of Italian style bread crumbs
  • 1 tsp garlic salt
  • 2 tbsp tomato pesto (or sun-dried tomato pesto)
  • 1 cup grated cheese (I’ve used parmesan, provolone, mozzarella or a combination of these)
  • 1/2 tsp black pepper
  • 1 tbsp olive oil
  • 4 buns
  • 1 tomato sliced
  • 1 small red onion sliced
  • Green leaf lettuce or arugula
  • Pesto or basil leaves (optional)
  • 4 cheese slices – Mozzarella or provolone

DIRECTIONS

Mix ground meat with egg, bread crumbs, garlic salt, tomato pesto, grated cheese and black pepper. Mix well and found 4 patties. Heat a sauce pan with olive oil, place patties in pan and cook for 5 minutes on each side or until done to taste. Add sliced cheese and cook until melted. Toast buns, add condiments as desired. Enjoy!

VARIATIONS

  1. This same mixture can be turned into a meatloaf. Mix the same ingredients and top with a 1 cup of ketchup or tomato sauce. Place in greased loaf pan. Cook for 30 mins or until done. Serve with parmesan potatoes!
  2. This same mixture makes amazing meatballs. Mix the same ingredients and form 16 small meatballs. Brown the meat balls in olive oil and add your favorite spaghetti sauce.

 

 

Butter Pecan Cookies

Posted on by Ali Palacios - Broker

I used a 1 in scoop and this recipe made 60 small cookies. If you use a larger scoop you will need to make cooking adjustments. See below.

Ingredients:

2 cups pecan halves, finely chopped

2 and 1/4 cups all-purpose flour

2 and 1/2 tablespoons cornstarch

1 teaspoon salt

1 teaspoon ground cinnamon

1 teaspoon baking soda

2 sticks (8 ounces) salted butter + 2 tablespoons of salted butter

1 cup dark brown sugar, packed

1/2 cup granulated sugar

2 teaspoons vanilla extract

2 large eggs, at room temperature

32 pecan halves, for decoration (optional)

 

Directions:

  • Melt 2 tbsp butter in a large skillet over medium heat. Add in chopped pecans and cook, stirring occasionally, for 4 to 5 minutes, or until lightly toasted. Set aside until needed.
  • In a large bowl combine flour, cornstarch, salt, cinnamon, and baking soda; whisk well, set aside until needed.
  • Melt butter in a skillet over medium heat; continue cooking, stirring often, until golden brown (light caramel color). Add browned butter  into a large, heatproof mixing bowl. Add in both sugars and whisk well to combine. I mixed it for about 2 mins so the mixture would cool slightly. Add in vanilla. Beat in eggs, one at a time, beating until eggs are just combined.
  • Using a rubber spatula, fold in the flour, stirring until just combined. Fold in the buttered pecans.
  • Cover bowl and refrigerate for at least 3 hours.

To Bake:

  • Preheat oven to 350 degrees (F). Line a large baking sheet with parchment paper.
  • Scoop 3 tablespoon sized rounds of dough onto the prepared sheet, leaving 2 inches in between each cookie for spreading. Firmly press a pecan half on top of each ball of cookie dough, if desired, then bake in preheated oven for 6 minutes, or until edges are set and the center is still a little jiggly. Allow cookies to cool on the pan for 15 minutes, then carefully transfer to a cooling rack. Repeat with remaining cookie dough.

Notes

  • If using a 2in scoop, the cookies will take about 9-10 mins to cook
  • I scoop all the cookies and freeze the balls of dough. This way I can bake a few batches as needed. If frozen you might have to bake the cookies for an addition 2 mins.
  • Cookies will stay fresh for 3 days when stored in an airtight container.

Cuban Pork Fricassee

Posted on by Ali Palacios - Broker

Ingredients

1 – 1 1/2 lbs of pork ribeye (cut in chunks)

1 large onion

1 large green pepper

1 small can roasted red pepper or pimentos

6 cloves of garlic

3 packs of Goya sazon

2-3 tbsp garlic salt

2 cups red wine

1 can diced tomatoes

1 small can tomato sauce

1/3 cup capers

1/2 cup green olives with pimentos

3 red potatoes (large dice)

salt/pepper to taste

1/2 cup Olive oil

 

Directions

Season the pork with salt, pepper, garlic power and 2 packs of Goya seasoning. Heat a large stew pan and add olive oil to coat the bottom. Brown the pork in batches. Do not crowd the pan. Remove from pan as browned. Once all the pork has been browned, set aside. Add a little more oil and throw in the onions, peppers and garlic. Sauté until tender. Add tomato sauce and diced tomatoes. Cook for 3 mins. Add red wine, the last Goya season pack, olives, capers and pork. Add 1 cup of water. Cook pork until tender, about 1 1/2 hours on low.

Add potatoes and cook until tender. Serve over white rice.

Variations: you can make this same dish with chicken instead of pork. Everything else stays exactly the same.

‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home

Posted on by Ali Palacios - Broker

It’s a common misconception that you shouldn’t try to buy or sell a home during the fall and winter months.

This is generally considered the “offseason” in real estate. Many sellers mistakenly believe that the cold weather will keep buyers away and that no one is looking over the holidays. Unfortunately, many real estate professionals perpetuate this myth by advising their clients to “wait until the spring” to list their home.

The truth is, homes are bought and sold year round. And while the market is typically quieter during the fall and winter, savvy buyers and sellers know how to use this slow down to their advantage. In fact, depending on your circumstances, now may be the ideal time for you to purchase or list a home.

If you’re in the market to buy or sell, there’s no need to wait for the spring. Read on to discover the top five reasons that it can pay to buy or sell a home during the offseason! 

  1. LESS COMPETITION

What’s the number one reason to buy or sell a home during the offseason? Less competition!

This can be particularly beneficial if you’re a seller. Come spring, a huge wave of new listings will hit the market. But if you list now, you will have fewer comparable homes with which to compete.

In the spring and summer months, it can be difficult for your property to stand out in a crowded market. You may end up with a surplus of homes for sale in your neighborhood. Indeed, it’s not uncommon to see multiple listings on a single street during the peak selling season.

Inventory in the fall and winter months, however, can be significantly lower. That means your home will not only receive more attention from buyers, but you may also gain the upper hand in your negotiations. In fact, research found that homes listed in the winter are nine percent more likely to sell, and sellers net more above asking price in the winter than any other time of year.1

Buyers also have a lot to love about the real estate offseason. While some buyers need to move during the winter, many bargain hunters search this time of year in hopes of scoring a great deal.

Smart buyers will continue to scan the market during the fall and winter for hidden gems that pop up during the offseason. There are always highly motivated sellers who need to sell quickly. And with less competition to bid against you, you’re in a better position to negotiate a great price. If you’ve been looking for a good deal on a home or investment property, now may be the best time to look!

So while a “slow market” may scare off some buyers and sellers, it can actually be the perfect time of year for you to list or purchase a home. While the rest of the market is hibernating until spring, take advantage of this opportunity to get a jump start on your competition!

  1. EVERYONE’S MORE MOTIVATED

During the spring and summer, you’re likely to encounter “lookie-loo” buyers who are just testing the waters and unrealistic sellers who are holding out for a better offer. But the serious buyers and sellers stay active during the cold weather and holiday season, often because they need to move quickly. In fact, research shows that homes listed in the winter sell faster than any other time of year.1

January and February are peak job hiring months, which brings a surge of buyers who need to relocate quickly to start a new job.2And of course life changes like retirement, marriage, divorce, and new babies come year round. While families often find it more convenient to move during the summer when school is out, the reality is that many don’t have the option to wait. According to the National Association of Realtors, 55 percent of all buyers purchased their home at the time they did because “it was just the right time,” not because of seasonal factors.3

If you prefer to deal with serious, highly-motivated buyers and sellers who want to act fast and don’t want to waste your time, then the offseason may be the perfect real estate season for you.

  1. GREATER PERSONAL ATTENTION

Another key benefit to buying and selling in the offseason is the increased personal attention you’ll receive.

While we strive to provide unparalleled client service throughout the year, we simply have more time available for each individual client during slower periods. Similarly, we find the other real estate professionals in our network—including title agents, inspectors, appraisers, insurance agents, and loan officers—are able to respond faster and provide more time and attention during the offseason than they are during the busy spring and summer months. The result is a quicker and more streamlined closing process for all involved.

  1. COST SAVINGS

Clients who move during the offseason often report significant cost savings. Moving costs may be discounted by 15 percent or more during the winter months, and moving companies can typically offer more flexibility in their scheduling.4

Home renovations and repairs can also be less expensive in the offseason.5 Whether you’re fixing up your property prior to listing it or remodeling your new home before moving in, contractors and service providers who are hungry for business are often willing to work for a discount this time of year. If you wait until the spring and summer, you may be forced to pay a premium.

Home stagers and decorators are also more likely to negotiate their fees during the winter. And you can often score great deals on new furniture and decor during the holiday sales.

Whether you’re buying or selling, count cost savings as another compelling reason to consider an offseason move.

  1. EASIER TO MAINTAIN CURB APPEAL

Finally, listing your home during the fall and winter offers one key—but often overlooked—advantage: less lawn maintenance!

Good curb appeal is crucial when selling your home. According to a recent report by the National Association of Realtors, 44 percent of home buyers drove by a property after viewing it online but did NOT go inside for a walkthrough.6That means if your curb appeal is lacking, buyers may never make it through the door.

If you list your home during the peak of the selling season, we will generally advise you to implement a frequent schedule of mowing, edging, watering, weeding, and trimming shrubs and hedges. You’ll probably want to plant flowers, as well, to brighten your exterior. After all, a lush landscape is a key element in attracting spring and summer buyers.

If you list in the offseason, however, your lawn maintenance list is significantly reduced. While we do recommend that our sellers keep their exterior clean, tidy, and free of leaves, snow, and ice, you will probably spend much less time on outdoor maintenance during the winter than you would if you listed your home in the summer.

ARE YOU READY TO MAKE YOUR MOVE?

Now that you know all the great reasons to buy or sell a home in the offseason, it’s time to decide whether you’re ready to make your move.

Every client’s circumstances are unique. Whether you needto move quickly or you simply wantto take advantages of all benefits this season has to offer, it’s a great time to enter the market.

Give us a call today to schedule a FREE consultation … and you could be ringing in the New Year in your new home!

 

 

Sources:

  1. Redfin –
    https://www.redfin.com/blog/2013/12/why-winter-is-the-hottest-time-to-sell-your-home.html#.VjKYm2SrTKI
  2. Top Resume –
    https://www.topresume.com/career-advice/the-best-times-of-the-year-to-job-search
  3. National Association of Realtors –
    https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers
  4. Angie’s List –
    https://www.angieslist.com/articles/why-winter-can-be-best-time-move.htm
  5. Build Direct –
    https://www.builddirect.com/blog/the-best-times-of-the-year-to-get-deals-on-home-remodels/
  6. National Association of Realtors –
    https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf

Esta considerando comprar una casa nueva?

Posted on by Ali Palacios - Broker

Imagínate un paseo en coche un fin de semana. Ves una señal que dice:

Casas de nueva construcción!
Modelos desde $ XXX, XXX
Siguiente Derecha!

Tal vez está buscando activamente una casa, o tal vez es solo un impulso del impulso del momento, pero sigue las indicaciones hacia la casa modelo.

Te estacionas

Entras en la casa modelo.

El representante de ventas del constructor le pide que inicie sesión.

Te registras

Ay. Es posible que hayas cometido un error costoso …

No es como si estuviera comprando uno …
La mayoría de las personas no piensan dos veces antes de iniciar sesión cuando visitan una casa modelo. Ellos piensan, ¿cuál es el daño? No es como si estuviera firmando algo para comprar uno. Solo quiero echar un vistazo, y no es como si me estuvieran pidiendo que firme mi vida.

Pero a veces terminas comprando uno.

Usted consigue el error. Te enamoraste. Te imaginas en este estilo de vida. Lo siguiente que sabes es que estás haciendo una oferta en el acto.

O tal vez se vaya, pero no puede dejar de pensar en ello durante todo el viaje a casa, así que decide que va a comprar uno.

De cualquier manera, si decide comprar uno, después de haber iniciado sesión con el constructor, es posible que haya desestimado su derecho a involucrar a su propio agente de bienes raíces y asesorarlo.

¿Es incluso necesario un agente de bienes raíces?
Algunas personas se preguntan si es incluso necesario que su propio agente de bienes raíces participe en la compra. Sienten que son un intermediario innecesario. Después de todo, el constructor tiene un representante de ventas. Sienten que “encontraron” la casa, no un agente de bienes raíces. El constructor o su representante puede manejar el papeleo. Y, idealmente, no tener un agente tal vez les dé cierta ventaja para negociar.

Otros simplemente ni siquiera piensan en llevar a su agente de bienes raíces con ellos o no quieren “molestarlos” para que vayan a ver una casa en la que puedan entrar fácilmente para ver. Solo se detienen por un capricho, y una vez que la bola comienza a rodar, sienten que no pueden involucrar a su agente, o incluso que el constructor podría “alentarlos” a no hacerlo. Y ellos piensan, cuál es el problema … el constructor o su representante pueden manejar todo.

Y algunas personas sienten que los agentes de bienes raíces solo quieren aferrarse al acuerdo para hacer una comisión, mientras hacen muy poco, ya que el constructor y / o su representante pueden manejar el papeleo y el proceso.

Es más que simplemente “encontrar” y empujar papeles …
Claro, un comprador puede “encontrar” una casa de nueva construcción por su cuenta. Y un constructor o su representante de ventas ciertamente puede manejar el papeleo.

Pero el valor de tener a un agente de bienes raíces de su lado no es solo “encontrarle” una casa (nueva construcción o no), o completar algunos espacios en blanco de un contrato y hacer que los documentos pasen por el proceso. Se trata de su conocimiento, consejo y representación.

Bien, algunos agentes pueden querer que se firmen algunos papeles y esperar el día de cierre para obtener un cheque de comisión. Y, sí, probablemente sea mejor no involucrar a un agente como ese en la compra de una nueva construcción.

Pero eso no significa que no deba encontrar a un agente que realmente entienda la construcción nueva (y los bienes raíces en general) de su lado.

Un buen agente puede ayudarte

Evita errores costosos
Obtén todo lo que puedes y debes obtener del constructor
Aconsejarle si comprar una casa en particular es la mejor o la mejor opción para usted
Ofrezca alternativas que de otra manera no habría considerado
Le ayuda a elegir el mejor lote y modelo en un desarrollo para su propio disfrute y futuro valor de reventa
Mantener el proceso de construcción y construcción bajo control
Abogue por usted cuando surjan problemas con el constructor
Cosas para saber y mirar hacia fuera
Hay muchas cosas que debe saber y estar atento a la hora de comprar una nueva construcción, más de lo que puedo cubrir en un breve artículo. Entonces, creé un folleto que puede descargar y leer en su tiempo libre, en lugar de uno sentado antes de desplazarse.

Es gratis y no hay obligación. Y, aunque es más detallado y más extenso que este artículo, que abarca más de una docena de temas, no es una lectura larga. Usted puede pasar a través de una taza de café de tamaño mediano.

Simplemente complete su información a continuación y le enviaré una copia de inmediato.

 

¿Qué es la ganancia (o capital) de su vivienda?

Posted on by Ali Palacios - Broker

¿Qué es la ganancia (o capital) de su vivienda?

El valor de la vivienda parece ser un cálculo muy simple: la cantidad total de hipotecas debidas se resta del valor de mercado actual de una casa. Aquí hay un ejemplo simple:

Valor actual del mercado de viviendas $ 325,000

Hipoteca existente $ 225,000

Capital del propietario $ 100,000

Un lado de la ecuación está bien definido y se encuentra en el estado de cuenta mensual de la hipoteca, el saldo del préstamo. El otro lado es menos obvio: el valor de mercado actual de la propiedad.

Como propietario, su enganche es su capital inicial, y sus pagos de capital mensuales (o adicionales) aumentan su capital. En los mercados de bienes raíces sólidos y en las ubicaciones en demanda, su capital puede aumentar bastante rápidamente a medida que aumenta el valor de la propiedad, pero también puede suceder lo contrario: demasiado inventario disponible y ciclos descendentes del mercado pueden llevar a la caída de los valores de las viviendas y una reducción en el capital de la vivienda. .

Puede ser difícil atribuirle un valor preciso a algo en lo que se adhiere emocional y monetariamente. Es seguro decir que la mayoría de las personas piensan que su hogar vale más de lo que vale.

Los propietarios pueden realizar evaluaciones inteligentes sobre el valor de mercado actual de su hogar siguiendo las ventas de propiedades similares en el vecindario, pero deben mantenerse alejados de sitios web como Zillow y Trulia, que proporcionan estimaciones inexactas y desactualizadas. La medición más precisa requiere un análisis de mercado comparativo por parte de un profesional de bienes raíces o que el hogar sea evaluado profesionalmente. Pero, en resumen, su casa vale lo que alguien está dispuesto a pagar por ella.

Crear valor está en tus manos

Mantener la condición de una casa es de vital importancia para retener y aumentar el valor. Las casas son juzgadas contra sus pares: cómo se comparan con casas similares en el vecindario. Otra forma de conservar el valor es no actualizarse en exceso, ya que es raro recuperar el dinero gastado si excede el valor del vecindario. Mantener el paisaje y hacer las pequeñas cosas para agregar atractivo.

Poner el capital de su casa a trabajar

El valor acumulado de la vivienda representa el activo individual más grande de millones de personas, y debido a que representa una gran parte del patrimonio neto de una persona, debe tratarse con respeto. El valor líquido de la vivienda no es un activo líquido hasta que se vende una propiedad o se la toma prestada.

Hay dos tipos de préstamos que aprovechan el capital de los propietarios como garantía.

Préstamos con garantía hipotecaria

Muchos planes de capital de la vivienda establecen un período fijo durante el cual la persona puede pedir dinero prestado, como por ejemplo 10 años. Al final de este “período de giro”, se le puede permitir a la persona renovar la línea de crédito. Si el plan no permite renovaciones, el propietario no podrá pedir dinero adicional una vez que el período haya finalizado. Algunos planes pueden requerir el pago completo de cualquier saldo pendiente al final del período. Otros pueden permitir el reembolso durante un período fijo, por ejemplo, de 10 años.

Un préstamo con garantía hipotecaria, a veces llamado segunda hipoteca, generalmente tiene una tasa fija y un tiempo establecido para devolverlo, generalmente con pagos mensuales iguales.

Línea de crédito con garantía hipotecaria

Una línea de crédito hipotecario es similar a una tarjeta de crédito. El prestamista establece un monto máximo que puede pedir prestado y puede sacar dinero cuando lo necesite, aunque muchas líneas de crédito con garantía hipotecaria requieren un sorteo inicial. La tasa de interés varía diariamente, y generalmente es primo más un número establecido, pero el pago requerido generalmente es solo de interés. Una vez que el préstamo ha sido cancelado, el pago se reduce y se puede pagar e iniciar tantas veces como lo requiera el propietario.

¿Cuánta valor se puede acceder?

Dado que la institución financiera está prestando dinero y utilizando una vivienda como garantía, no prestarán el 100% del capital de la vivienda. El banco no quiere correr el riesgo de que si el precio de la vivienda baja, llevaría un préstamo por más de su valor de mercado. Por lo tanto, la mayoría de los bancos permitirán que un propietario calificado obtenga un préstamo de aproximadamente el 80% de su capital.

Es importante usar el capital de su casa con prudencia

Debe utilizarse de manera prudente, y los pagos contra el préstamo deben ser asequibles. Usar el dinero de la equidad para hacer el pago del préstamo solo es aceptable para una solución a corto plazo.

Hay varias buenas razones para usar el dinero de un préstamo con garantía hipotecaria … y algunas realmente malas. En primer lugar, vamos a cubrir los usos inteligentes.

Invertir en su casa
La mejor manera de usar el dinero es crear más equidad en el hogar. Entre los mejores retornos de su inversión (ROI), se incluyen remodelaciones de cocinas y baños, agregando pies cuadrados o un baño adicional, mejorando el atractivo de la acera y reparando / manteniendo el sonido de la estructura existente. Hacer inversiones prudentes en su hogar es maravilloso: usted disfruta de las actualizaciones y las reparaciones pueden agregar valor al hogar.

Invierta en la educación de sus hijos
El uso de la equidad de su hogar para financiar la educación superior de un niño puede ser la mejor recompensa de todas. No solo la tasa es mucho más baja que un préstamo, es una inversión en el futuro del niño.

Suplemento de las necesidades de jubilación.

Los propietarios de viviendas de mayor edad pasaron sus vidas laborales pagando su hipoteca. En el momento de la jubilación, cuando se reducen los ingresos mensuales, un préstamo con garantía hipotecaria podría pagar por unas vacaciones de ensueño o un gasto mayor inesperado.

Aumente la venta inminente de una casa

Si planea vender pronto, una línea de crédito con garantía hipotecaria puede ser la mejor forma de financiar mejoras, y puede pagarla completamente cuando venda. Invertir sabiamente en actualizaciones y reparaciones puede incluso obtener un beneficio de su inversión.

Aquí hay algunos ejemplos de algunas opciones no muy sabias.

Agregar servicios de lujo como una piscina, un spa, paisajes lujosos, electrodomésticos caros y pisos exóticos rara vez vale la pena.

Comprar un auto o bote o la mayoría de los artículos de lujo personales es un mal uso de los fondos, ya que estos artículos se deprecian rápidamente en valor.

También manténgase alejado del uso de dinero en inversiones de alto riesgo. El financiamiento de las compras de acciones, la creación de empresas y el pago de facturas de rutina no es financieramente inteligente. Si no puede permitirse comprar esos artículos con los fondos disponibles, usar el capital de su hogar significa que no deben estar en su presupuesto.

Debe tomar un préstamo con garantía hipotecaria como una inversión y no como efectivo adicional al tomar decisiones financieras. Si su uso previsto del dinero no le devuelve el dinero de alguna manera, no es el mejor uso de su valioso capital.

Nos complace brindarle asistencia Si desea una evaluación del valor de mercado de su vivienda y del capital actual al que puede acceder, llámenos para obtener un análisis comparativo del mercado.

The Home Equity Playbook

Posted on by Ali Palacios - Broker

 

What is Home Equity?

Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:

Current Home Market Value         $325,000

Existing Mortgage                           $225,000

Homeowner Equity                         $100,000

One side of the equation is well defined, and it is found on the monthly mortgage statement, the loan balance. The other side is less obvious — the current market value of the property.

As a homeowner, your down payment purchases your initial equity, and your monthly (or additional) principal payments increase your equity. In strong real estate markets and in-demand locations, equity can increase quite rapidly as the property value increases, but the inverse can also happen — too much available inventory and market down-cycles can lead to falling home values and a reduction in homeowner equity.

It can be difficult to put an accurate value on something that you have emotional and monetary vesting in. It is safe to say that most people think their home is worth more than then it is.

Homeowners can make savvy assessments about their home’s current market value by following the sales of similar properties in the neighborhood, but should stay away from websites such as Zillow and Trulia, which provide inaccurate and outdated estimates. The most accurate measurement requires a comparative market analysis from a real estate professional or having the home professionally appraised. But, the bottom line — your home is worth as much as someone is willing to pay for it.

Creating Value is in Your Hands

Maintaining the condition of a home is vitally important to retaining and increasing value. Homes are judged against their peers: how they compare to similar homes in the neighborhood. Another way to retain value is to not over upgrade, since it is rare to ever recoup the money spent if you exceed neighborhood value. Keep up the landscaping and do the little things to add curb appeal.

Putting Home Equity to Work

Home equity represents the largest single asset of millions of people, and because it represents so much of an individual’s net worth, it must be treated with respect. Home equity is not a liquid asset until a property is sold, or it is borrowed against.

There are two types of loans that tap into homeowner equity as collateral.

Home Equity Loans

Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the homeowner will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, of 10 years.

A home equity loan, sometimes called a second mortgage, usually has a fixed rate and a set time to pay it back, generally with equal monthly payments.

Home Equity Line of Credit

A home equity line of credit is similar to a credit card. The lender sets a maximum amount you can borrow, and you can draw money as you need it, though many home equity lines of credit require an initial draw. The interest rate varies daily, and is usually prime plus a set number, but the required payment is usually interest only. Once the loan has been paid down, the payment is reduced, and it can be paid off and initiated as many times as a homeowner requires.

How Much Equity can be Accessed?

Since the financial institution is lending money and using a home as collateral, they will not lend 100% of the home’s equity. The bank does not want to take the risk that if the house price drops, they would be carrying a loan for more than its market value. Therefore, most banks will allow a qualified homeowner to borrow approximately 80% of their equity.

It’s Important to Use Your Home Equity Wisely

Because it is likely the biggest asset most people have, losing your home equity is hard to overcome. It must be used in prudent ways, and the payments against the loan must be affordable. Using equity money to make the loan payment is only acceptable for a short-term solution.

There are number of good reasons to use money from a home equity loan… and some really bad ones. First, let’s cover smart uses.

  1. Invest in Your Home

The best way to use the money is create more equity in the home. Among the very best returns on your investment (ROI) include kitchen and bathroom remodels, adding square footage or an extra bath, enhancing curb appeal and repairing/keeping the existing structure sound. Making prudent investments in your home is a wonderful win-win: you enjoy the upgrades and the repairs can add value to the home.

  1. Invest in your Children’s Education

Using your home equity to finance a child’s higher education may be the greatest payoff of all. Not only is the rate much lower than a student loan, it is an investment in the child’s future.

  1. Supplement Retirement Needs

Older homeowners spent their working lives paying down their mortgage. At retirement, when monthly income is reduced, a home equity loan could pay for a dream vacation or an unexpected major expense.

  1. Augment the Impending Sale of a Home

If you’re planning to sell soon, a home equity line of credit may be the best way to finance improvements, and you can pay it off entirely when you sell. Investing wisely on upgrades and repairs may even reap a profit on your investment.

Here are some examples of some not very wise choices.

Adding luxury amenities like a swimming pool, a hot spa, lavish landscaping, expensive appliances and exotic countertops and flooring rarely pay off.

Purchasing a car or boat or most any personal luxury items is a poor use of the funds, since these items quickly depreciate in value.

Also stay away from using money on risk-heavy investments. Financing stock purchases, start-up businesses and paying routine bills is not financially smart. If you cannot afford to purchase those items with available funds, using equity from your home means they should not be in your budget.

You should treat a home equity loan as an investment and not as extra cash when making financial decisions. If your intended use of the money doesn’t pay you back in some way, it’s not the best use of your valuable equity.

We Are Happy to Assist You

If you would like an assessment of the market value of your home and the current equity you can access, give us a call for a comparative market analysis.