It’s All About The Benjamin’s…& Home Equity…

When delving into the world of real estate and investment property, there are many terms that will come up that require further explanation. Whether you’ve never heard the phrase ‘home equity’ before or you have a little familiarity, here are the ins and out of what it means and how this asset can help your financial outlook.

It’s All About The Benjamin’s…& Home Equity

Essentially, home equity refers to your portion of the value of your home, and the amount of this figure is important because it is included among your assets when determining your net worth. If this sounds confusing, think of it this way: if you have completely paid off the cost of your home, the value of your home equity is this total amount. Of course, because most people seek a lender to borrow money from when they purchase a home, their home equity would consist of their down payment and whatever amount they’ve paid down on the mortgage since purchase.

For Example…

To provide further clarification, let’s use the example of a house that has been purchased for $300,000. In the case that a down payment of 20% has been provided at the time of purchase, the equity in the home would be $60,000. Since this amount is the percentage and cost of the house that’s been paid down, this is the amount of the house that is actually owned and this will be figured among an individual’s assets.

How Home Equity Works

As you pay the amount that you owe on your home each month, you are paying off your total debt and thereby increasing your equity. Since this amount of money is considered an asset that belongs to you, it can be used down the road to buy another home or invest in other important things like education or retirement. While paying off the amount owed on a home is a considerable investment, if the value of your home increases, this means that you’ll still owe the same on it but your home equity will have automatically increased.

As an asset that is part of your financial net worth and can be used down the road to fund other investments, home equity is a very useful term to know when it comes to purchasing a home. If you’re on the market for a home and are considering your options, give me a call for more info…

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Happy Father’s Day! Here’s some DIY tips for all the Dad’s out there!

DIY for the GarageDIY

DIY for the Front/Backyard

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ENJOY!! 🙂

Halloween Safety Tips!

Walk Safely

  • -Cross the street at corners, using traffic signals and crosswalks.
  • -Look left, right and left again when crossing and keep looking as you cross.
  • -Put electronic devices down and keep heads up and walk, don’t run, across the street.
  • -Teach children to make eye contact with drivers before crossing in front of them.
  • -Always walk on sidewalks or paths. If there are no sidewalks, walk facing traffic as far to
    the left as possible.
  • -Children should walk on direct routes with the fewest street crossings.
  • -Watch for cars that are turning or backing up. Teach children to never dart out into the street or cross between parked cars.

Trick or Treat With an Adult

  • -Children under the age of 12 should not be alone at night without adult supervision. If kids are mature enough to be out without supervision, they should stick to familiar areas that
  • are well lit and trick-or-treat in groups.

Keep Costumes Both Creative and Safe

  • -Decorate costumes and bags with reflective tape or stickers and, if possible, choose light colors.
  • -Choose face paint and makeup whenever possible instead of masks, which can obstruct a child’s vision.
  • -Have kids carry glow sticks or flashlights to help them see and be seen by drivers.
  • -When selecting a costume, make sure it is the right size to prevent trips and falls.

Drive Extra Safely on Halloween

  • -Slow down and be especially alert in residential neighborhoods. Children are excited on Halloween and may move in unpredictable ways.
  • -Take extra time to look for kids at intersections, on medians and on curbs.
  • -Enter and exit driveways and alleys slowly and carefully.
  • -Eliminate any distractions inside your car so you can concentrate on the road and your surroundings.
  • -Drive slowly, anticipate heavy pedestrian traffic and turn your headlights on earlier in the day to spot children from greater distances.
  • -Popular trick-or-treating hours are 5:30 p.m. to 9:30 p.m. so be especially alert for kids during those hours.

LA Housing Construction and Development: Going Up!

High demand for housing, historically high rents and condo/loft prices are keeping the Los Angeles region’s housing market hot, with both domestic and foreign vertical developers keenly in the game.What’s your home, land or investment property worth???

I don’t usually post my Listings, but this one is to die for! Do you know anyone who would LOVE to LIVE HERE?? ( Besides me;) )

Modern-chic lifestyle at its finest!
The pinnacle of style, design and location!

SELLERS strike while the Real Estate iron is hot!!

Robert Kleinhenz, chief economist at the Los Angeles County Economic Development Corp., said the report is good news for homeowners. If this guy doesn’t know what’s up…then no one does!!

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Property values in Los Angeles County increased by 6.13 percent in 2015 ó the largest jump since 2010, the assessor reported on Thursday, June 16, 2015. The median price of a single-family home in L.A. County increased 7.9 percent, to $480,000 last year. The average price was $780,000.

Apartment rents increased 6.4 percent in 2014. In the city of Los Angeles, the average rent for a two-bedroom apartment last year was $2,591 per month.

The increase in property values is advantageous for those selling their homes, the assessor said.

“If you’re selling, you’re going to be able to command a better selling price,” adding that values are going up everywhere in the county.

“They’re seeing that their home values are coming back and so that’s good news for homeowners because for most households, the primary store of wealth in their portfolio for the typical homeowner is their home, particularly in Los Angeles,” Kleinhenz said.

Keep on readin’…

HAPPY 4TH of JULY! Best places to watch fireworks in LA County…

Have a fun, relaxing, and safe 4th of July! You deserve it!

Here are 21 of the best places to watch 4th of July fireworks in LA County!

Happy Independence Day, from your friend, Silvia!