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All About Ventura County and Los Angeles County Real Estate and Homes for sale. Lefton & Associates blogs about Real Estate market update and properties for sale throughout Simi Valley,Wood Ranch,Big sky,Moorpark,Thousand Oaks and surrounding areas.

Oct. 22, 2019

How to Apply for a Mortgage Loan After Foreclosure

Main: mortgage loan, mortgage after foreclosure, Long-tail: Ventura County mortgage loan

Foreclosure can be considered a nightmare for every American. Though foreclosure rates in the US have been steadily decreasing since the Great Recession, there are still more than 600,000 Americans who lost homes to foreclosure or short sale in 2018. However, foreclosure doesn’t mean the end of your dreams. With time and a lot of hard work, it is possible to get another chance at owning a home.

Decreasing the Waiting Period

The waiting period for a mortgage after foreclosure may vary depending on your lender. You would need to wait seven years to get a conventional loan, three years to get a loan backed by the Federal Housing Administration (FHA) or the Department of Agriculture (DA) and two years to get a loan from the Department of Veterans Affairs (VA). However, it is also possible to lessen the waiting period with “documented extenuating circumstances.”

These “extenuating circumstances” refers to situations “beyond your control,” such as medical emergencies or death in the family. A drop in equity or divorce would not be considered. But if your property has been transferred to your spouse who wasn’t able to pay the loan after divorce, you would be approved for a lesser waiting period.

Simply put, it should be evaluated by the lender that your previous foreclosure had nothing to do with your lifestyle choices, and you weren’t able to prevent it despite exerting your best efforts. This would reduce the waiting time for conventional mortgage loans to three years, and FHA, DA, and VA loans to a minimum of one year.

Getting Your Loan Approved

Lenders wouldn’t want to lend to someone who would likely default again so you would need to take out something to prove that you are creditworthy. There may be differences depending on how your lender interprets the rules. However, below are some guidelines on how to get your mortgage loan approved within the required waiting period:

  • Rebuild your credit score. One of the most important considerations is your credit score. Rebuilding your credit score after foreclosure may take time depending on a number of factors such as the number of missed payments you had on your previous mortgage, your credit and payment history, your credit card balances, your credit utilization, and more. Your credit score must be at least 620 for conventional loans and 580 for government-backed loans. However, getting barely above the line might not do. The credit score presented by services that provide credit reports to consumers might be different from your credit score with your lenders by at least 40 to 60 points.
  • Prove your job stability. To make sure that you would be able to pay your loans, you will need to demonstrate that you have a stable job. Regular employees with Wage and Tax Statement or W-2 form will get an easier time getting a mortgage after foreclosure as their lenders can verify their income with their employers. However, those with several part-time jobs or self-employed would face harsher requirements.
  • Provide documentation. Loan requirements had been stricter since the financial crisis. You need to provide a lot of documents to get approval. Tax returns, payment receipts, bank and brokerage statements, and basically all the things you put on your mortgage application have to be backed by a relevant document.
  • Clear previous records. For government-backed loans, you will not get approved if you have previous records on defaulting on any federal financial obligations such as loans from the Federal Housing Administration, Department of Agriculture, Department of Veterans Affairs, Department of Education, Department of Justice and Small Business Administration. Your lender can access the Credit Alert Verification Reporting System (CAIVRS), which lists those who have defaulted on a government-backed mortgage or student loans. Student loans need to be paid fully before getting removed; on the other hand, mortgage loans have a 3-year waiting period.

Looking for solutions on Ventura County mortgage loans? Contact Lefton Realty Group at 805-407-6453. We have a team of local experts to guide you with all your needs.

Oct. 21, 2019

5 Reasons to Move to a Simi Valley Home

City life is pretty tiring. Traffic, pollution, overpopulation—these are just among the most stressful problems. If you are tired of the fast-paced life in big cities, why not try the beautiful, family-friendly suburbs. Located in the southeast corner of Ventura County, Simi Valley is known for its beautiful mountains and quiet and safe community. Still it is not too far away from downtown Los Angeles, making it part of the Greater Los Angeles area. Here are five reasons why Simi Valley Homes are in demand:

1. It is a Safe and Family-Friendly Community

You can rest assured with your family’s safety in Simi Valley. Simi Valley is always within the top safest cities in California with a crime rate lower than the California average. A 2017 survey by the University of Vermont also ranked Simi Valley as the fifth happiest city in the United States.

Simi Valley is mostly composed of residential neighborhoods. There is limited nightlife, and most of area quiets down at around 10 pm. This is a good thing for parents who are worried about their teens. Simi Valley is also home to top primary schools and high schools in California as well as excellent medical facilities.

2. It is a Highly-Regulated City

Being highly regulated means Simi Valley has controlled growth. The city keeps urban sprawl well-controlled. Though this means that there would be limited types of businesses and services in the area, this is also the main reason why Simi Valley remains as one of the safer cities to live, and low crime rates are maintained.

Its environment and natural landscapes are very well-preserved and protected. There won’t be problems of overpopulation or air pollution. It maintains that small city feel which is desirable to many residents

3. It Has Lots of Recreational Facilities

Nightlife might be very limited, but you can enjoy plenty of fun from outdoor adventures. Simi Valley has the finest recreational facilities, shopping centers and restaurants. It has a total of fifty parks, including urban city-parks and public open spaces or multi-purpose trail systems. It has nature trails for hikers, cyclists and equestrians. It also has six golf courses; meanwhile beaches are well under an hour away.

Simi Valley Homes are very attractive for those with an active lifestyle. You won’t run out of fantastic places to visit. Simi Valley also has a lot of places to eat. Japanese, Greek, Italian—they have it all. There is also the Cultural Arts Center, for those who like to watch classic plays, new-age musicals or comedy sketches and don’t forget the Ronald Reagan Presidential Library.

4. Mild Weather All Year Round

Simi Valley residents enjoy mild and comfortable weather all year round. The warmest month is August with an average maximum temperature of 96 °F. Meanwhile, the coldest is December with an average minimum temperature of 38 °F.

You have plenty of opportunities to enjoy the blue skies, with only about 18 inches of rain annually, compares to the 37 inches US average. Winter months tend to be wetter, but snowfall in Simi Valley is always at 0 inches compared to the U.S. average of 25 inches of snow per year.

5. Convenient Transportation

One of the most important considerations in finding a new home is transportation. Since Simi Valley is a residential area, it takes some time to get to the city. However, Simi Valley has plenty of fast and easy transportation options.

It has railroads and bus routes which run seven days a week to all over Los Angeles. On the other hand, for those who have their own cars, the local freeways give quick access to neighboring cities.

Convinced yet? If you are looking for a Simi Valley Home, contact Lefton Realty Group at 805-407-6453. We’ll do our best to get you the best price at the right location for your new home.

Sept. 16, 2019

How to Find Real Estate Offices You Can Trust

Buying or selling a house is a big financial decision. It involves a lot of processes—from touring and viewing units, price negotiations, to making sure you have all the required documents. Finding a real estate broker that you can trust to go with you through all these stressful details is very important. It doesn’t always have to be the top players in the industry or the ones who make the highest sales. The most important is their effort and dedication to give you the best price and value for your transaction. Here is how you need to know in finding real estate offices.

1. Do initial research and create a shortlist

Try to ask around and get referrals from your family and friends who have dealt with buying or selling properties. You can also do your initial research with Google. Check their websites, property listings, social media accounts and sift through their online reviews. One or two negative reviews can be disregarded, but if they have more negative than positive reviews, that is a major red flag. Make a shortlist and identify their specialties. Some real estate offices specialize in certain locations or certain types of properties. If you want to buy a new house in Simi Valley, search for Simi Valley Real Estate Offices. They would have better grasp of local market trends in the area and are more likely to give you better deals.

2. Conduct interviews

Never commit to anything if you haven’t met them in person yet. You can do phone interviews, but it is better to go to their office and have a face-to-face meeting with their staff and agents. This way, you would gain a clearer understanding of their personalities and values. Are they easy to talk to? Are they honest and do not sugarcoat their words? Don’t hesitate to ask questions and turn them down if you feel like they are not up to it. You shouldn’t choose brokers who are too hard sell and be wary if you feel like they are pressuring you to make transaction.

3. Talk to their past clients

It is also important to ask for contacts of clients who they recently made transactions with as reference. Ask them about their experiences. How the broker helped them through all the processes and how much support did they provide. Were they quick to respond to queries through phone or email? Also ask them if they were satisfied with their service and if they would choose the same realtor for their next transaction.

4. Verify their credentials

Make sure to double-check their qualifications in case you run into fraudsters. There might not be too many real estate frauds in the US, and the chance of running into one is slim. But they do exist. Verifying credentials is very easy to do online. You can look at the official website of The Association of Real Estate License Law Officials (ARELLO) or the National Association of Realtors (NAR) for a searchable database. You can also inquire on local government offices or associations to check for their licenses.

According to ARELLO, there are at least 2 million active real estate licensees in the US in 2017. On the other hand, the NAR database has at least 1.3 million registered realtors and more than a thousand local real estate associations as of July 2019. There are a lot of options so you should take your time to choose the one that best suits your needs.

If you are looking for Simi Valley Real Estate Offices, Lefton Realty Group is a great option. Whether you are selling or buying, we have experts to help you get the best deals. For more information, call us at 805-407-6453.

Sept. 9, 2019

Why Invest in Real Estate Now?

Finding a way to invest without too much risk? Real estate is your best option. Not only does real estate give competitive returns and an attractive income source, it also helps you enjoy tax benefits. Now is the best time to invest in real estate—while mortgage interest rates are low and the real estate market is thriving. Here are the reasons why you should put your investments in real estate:

Mortgage interest rates are low

For many, this is the best reason to invest in real estate now. American mortgages are dipping at their lowest in the last three years. According to the August 28, 2019 results of Bankrate’s weekly lenders' national survey, the 30-year-fixed mortgage rate has fallen to 3.79 percent. This figure will only drop lower as bond yields continue to fall.

Competitive returns

When you chose a stable, growing market such as Simi Valley Real Estate, you can expect competitive returns by holding on to your assets over a length of time. The value of Simi Valley Real Estate is steadily growing during the past three years and is further expected to grow for the next few years as the infrastructure and economy in the city continues to improve.

Stable source of income

Investing in real estate is an attractive way to generate income. According to a report, about 80 percent of the total U.S. real estate return from 1977 to 2007 was generated from rental income. This makes real estate less volatile and more stable than those investments which only rely on capital value returns.

Highly tangible asset value

Real estate is backed by a high level of brick and mortar—your land and your home, which will always have value. On the other hand, stocks can turn into trash if stock values dip to zero and a new car only depreciates over time when newer and more advanced models hit the market. You can also get insurance to protect your assets from unpredictable incidences.

It is a good long-term investment

Among other kinds of investment, real estate is still the best for the long term. How many years can a company survive? Studies are saying they are dying younger. The average age of an S&P 500 company is has gone from 60 to 20 years, and the trend is accelerating due to disruptions in technology. Meanwhile, comparing real estate prices from 30 years ago, the value only increases over time regardless of financial crises.

Diversify your portfolio

Diversifying your assets is a way to balance the risks and rewards of your investments because you spread out the risks. Real estate can serve as a safe and stable asset to mitigate the risk in your portfolio. Even if your other investments went to the bubble, there would be opportunities to recoup your losses.

Enjoy tax benefits

Another attractive benefit of owning real estate is it comes with numerous tax benefits. This includes deductions on mortgage interest, property taxes, operating expenses and costs, insurance, and depreciation even if your property gains value.

If you are interested in investing in real estate, Simi Valley is a good choice. The Simi Valley Real Estate Market is currently at an upward trend as the area continues to gain popularity for homebuyers and investors alike. Simi Valley is a scenically beautiful city in Greater Los Angeles which boasts some of the finest recreational facilities, shopping centers and restaurants. For help, contact Lefton Realty Group.

Aug. 29, 2019

Simi Valley Real Estate Market Update by Mike Lefton Realtor

✨Simi Valley Real Estate Market Update August 2019.

✔️Mediain List Price $610,000 ✔️Median Sales Price $570,000 ✔️Average Days on Market 55 Days

✔️Call for a FREE Market Evalution by Lefton Realty Group at Remax One License#01239632

☎️Mike 805-407-6453 or visit www.MikeLefton.com

Aug. 2, 2019

Simi Valley Real Estate Market Trends to Keep In Mind

From an outside perspective, the housing market seems to change faster than people change clothes. In truth, market trends are easy to understand and much more stable than you might think. For Simi Valley sellers and landlords, or property investors looking for luxurious homes, these trends will help you make informed decisions about your pricing and property value.

Larger Homes Dominate

Even with expansive condos and beautiful apartment communities, single-family homes still dominate the Simi Valley housing market. Homes between two and four bedrooms make up over 80% of properties in Simi Valley and see regular year-over-year median price growth. Because of this, multi-bedroom homes do better on the market and bring higher listing and selling prices. For homes with fewer bedrooms, there should be other significant selling points that create an even price with Simi Valley’s median.

Median Price Range

Speaking of median prices, Simi Valley is seeing a slow but constant rise in both buying and renting costs. The median price for homes in Simi Valley averages out directly in the middle of home prices in California. As a fairly small city nestled in the heart of Southern California, this is great for buyers. There are plenty of amazing luxuries and experiences in the area, and for the price Simi Valley homes are unbeatable.

Buyers Prefer Remodeled Over Fixer-Upper

The age of the fixer-upper is coming to a close, as buyers and renters moving to the Ventura County area expect a luxury living space that’s remodeled and modern. In Simi Valley, fixer-upper homes tend to rent and sell at the lower side of the median value, where remodeled bathrooms and kitchens can add plenty of value to the property. Even better are homes that have been built within the last 20 years that need little-to-no remodeling and aren’t in the category of “fixer-upper”.

Simi Valley is Perfect for Investments

Make no mistake about it, rising property prices aren’t deterring people from moving to Ventura County. In fact, Simi Valley properties have become a coveted investment. With beautiful, modern homes in a stable housing market, property value in the area is steadily increasing. The most populous state in the US is seeing an increase in population as people move to the heart of tech, science, and entertainment for work. Buying a property in Simi Valley now is a sure investment in the future.

Ventura County’s Best Realtor

Buying and selling homes in Ventura County is as rewarding as it is complicated. To make the housing market trends work for you, contact Lefton Realty Group. We help you get the best price for your Simi Valley home, regardless of if you’re buying or selling, and we keep an eye on the market trends so you can rest easy with your property plans.

Posted in buying real estate
July 23, 2019

How to Choose the Best Realtor in Ventura County

Buying and selling homes doesn’t need to be complicated. The right real estate agent can make selling your property or buying a new home much more simple, even in the complex property markets of California, but choosing the right agent takes time and research. Follow these tips to make choosing the best real estate agent in Ventura County a breeze.

Agent in the Area

One of the most important aspects of choosing the right real estate agent is to make sure they know the area. Better yet, your real estate agent should live near the area they’re managing properties in. A local agent will understand the culture and neighborhood dynamics of the city and surrounding towns. An agent who doesn’t live near the area may not understand the nuances of the place you want to live, which can leave you misinformed. Ventura County realtors should understand California Central Coast culture and activities, and relate those activities to your location and listing price.

Market Knowledge

No matter where you move, your real estate agent should understand market trends inside and out. California’s property market is complex and ever-changing, and the right real estate agent will be on top of those trends the moment they shift. Ask your prospective agent about length of time homes stay on the market, buying and selling price ranges in the area, and their experience in the local marketplace. Agents who understand these trends can make personalized recommendations so you get the best deal for your Ventura County home, regardless of if you’re buying or selling.

Seek Recommendations and Compare

Take a trip around the area where you’ll be buying or selling your home and talk to homeowners around town. Ask them about recommendations for realtors, particularly ones they used for buying or selling property. Find local properties with “for sale” signs and do research on the realtors mentioned on the signs. Compare these names in categories such as commission, market knowledge, credentials, and experience. Lastly, interview multiple agents. If they don’t take the time to get to know you and your needs, don’t fit the profile you’re looking for, or simply don’t click with you, then move on to another agent. You want to feel comfortable with your agent first and foremost, and research can help you make the right choice for your needs.

Now that you know what to look for in a Ventura County real estate agent, give the Lefton Realty Group a call. We’ll work with you to get the right price and pick the right place, regardless of if you’re selling or buying. With just one phone call, you’ll know why we’re Ventura County’s best realtor.

Posted in buying real estate
July 11, 2019

Top Ten things Lefton realty group does to help buyers

🚨Tip# 7🚨10 Things Lefton Realty Group does for buyers by Mike Lefton Realty Group at Remax Olson. Contact Mike Lefton today for more information at ☎️805-407-6453 or visit www.MikeLefton.com #LeftonRealtyGroup #RealEstateTips Lic#01239632

 

July 9, 2019

What First Time Homebuyers Should Look for in a Simi Valley Home

Buying a home is one of the most stressful and complicated steps you’ll take in life. Simi Valley offers a mix of nature and development so residents can experience the full spectrum of California activities. If you’re planning to live in California, Simi Valley homes have a lot to offer. With 24 years in business serving the Simi Valley area, I have learned what first time home buyers should look for when shopping for a home in Ventura County.

The Right Neighborhood

First time home buyers are often focused on the look and feel of the home itself that they forget to take the neighborhood into account. Keep in mind what features you would like close to your home; for instance, you may want to move closer to a school or park for your children, or on the outskirts of town to incorporate more California nature into your life. Because Simi Valley is nestled between national parks and big Southern California cities, there is a mix of neighborhoods to choose from. Spend some time getting to know the town and look at a variety of neighborhoods to choose the right one for your family.

The Right Price

Even throughout the beautiful state of California, prices will differ drastically. Your first home shouldn’t break the bank though. Homes in Simi Valley are comfortable and affordable while nestled in the perfect location for coastal access, big city lifestyle, and ample vacation opportunities. Depending on neighborhood and age of the home, prices can vary. Take into account not just the home’s construction and age, but location as well; the neighborhoods you love may be more expensive the closer to the center of town you go. Compare your wishlist requirements to what the home and area have to offer and the price in its entirety. Remember, you and your agent should not be afraid to negotiate for the home you want most!

The Right Real Estate Agent

Finding the right real estate agent can mean the difference between settling for less and living the dream. Agents specializing in Ventura County homes can help first time home buyers find the right fit for their budget. Not only that, but a real estate agent can help you negotiate prices, find the best mortgage, and make sure your new home checks all of the boxes on your wishlist.

Simi Valley offers the best of comfort, convenience, and coastal access; in short, it’s a California dream! If you’re ready to take the plunge into a Simi Valley home, contact the Lefton Realty Group. They’ll help you find the right home at a price that doesn’t break the bank, so you can start living the golden state life today.

Posted in buying real estate
May 24, 2019

Best Simi Valley Realtor Mike Lefton realty group

🚨Tip#1🚨10 Things Lefton Realty Group does for buyers by Mike Lefton Realty Group at Remax Olson. Contact Mike Lefton today for more information at ☎️805-407-6453 or visit www.MikeLefton.com #LeftonRealtyGroup #RealEstateTips Lic#01239632