June 17, 2019

Everything You Need to Know About Down Payment Assistance Programs

 

On today’s episode of the Jose Luis Morales show, I’m joined by mortgage and housing expert Alex Vega of VCCDC (Ventura County Community Development Corporation) to discuss some local down payment assistance programs you may qualify for.

 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

 

01:24 - Alex Vega explains what VCCDC is and how it serves our community

 

02:18 - What services and programs VCCDC offers homebuyers

 

06:04 - Alex shares some insight into what buyers can learn VCCDC’s eight-hour homebuying course

 

08:30 - How the market has changed since VCCDC became a corporation

 

09:43 - What down payment assistance programs does VCCDC offer?

 

13:57 - Alex clarifies a few stipulations for VCCDC’s assistance programs

 

16:59 - What restrictions are there for VCCDC’s down payment assistance programs?

 

20:29 - Where to find more information about VCCDC’s down payment assistance programs (www.vccdc.org)

 

23:25 - A few final words

 

If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

June 3, 2019

How the Home Inspection Process Works


On today’s episode of the Jose Luiz Morales Show, we’re talking about the ins and outs of the home inspection process.

 

Home inspections are a critical aspect of the real estate process, which is why for today’s episode of the Jose Luiz Morales Show,  I’ve brought on expert inspector Joe Nerberg of AmeriSpec Inspection Services. Joe had some interesting insight to share regarding this often-misunderstood process during our interview, and I’m excited to share that conversation with you now.


Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

 

00:22 - An introduction to today’s topic and guest
01:44 - Joe explains what home inspections are and when they happen during a transaction
02:24 - Is there such a thing as a “licensed inspector” in California?
03:17 - Joe describes what happens during a typical home inspection
05:23 - What Joe would say to someone who's thinking about not ordering an inspection
07:11 - Why inspections should be performed by experienced, qualified professionals
08:12 - Joe shares five of the most common problems he finds during inspections
10:26 - Why it’s better to uncover problems before you close
13:08 - How inspectors advocate for clients even if they happen to miss something
14:07 - How does AmeriSpec ensure its inspectors are qualified? And what training do they implement?
15:48 - Why you still need a home inspection when buying new construction
17:06 - Do home inspectors check for permits?
17:58 - How much do home inspections typically cost?
20:18 - A recap of the inspection process, in general
21:53 - A few closing words from Joe
22:10 - How you can contact Joe and his team

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

May 17, 2019

Homes for Heroes With Frank Salazar


Welcome back for another episode of the “Jose Luiz Morales Show”!

It’s a privilege to be joined today by special guest Frank Salazar. Frank is one of the branch managers at Gem Mortgage, and he’s with us to discuss a very worthy program that he has committed himself to. It’s called Homes for Heroes, and its aim is to serve our local heroes here in Ventura County.    

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or skip to the topics(s) that interest you most:

 

1:40—How and when Gem Mortgage’s relationship with Homes for Heroes was born

 

2:53—Who Homes for Heroes serves and benefits

 

3:23—The true purpose of Homes for Heroes

 

4:42—The specifics of how the program benefits a particular hero

 

5:35—The kind of savings a hero will see under this program

 

6:26—From lowest- to highest-ranking officials, the life-changing impact of Homes for Heroes

 

8:02—Frank’s contact information and how you can obtain more information

 

8:23—Some final thoughts from Frank

 

If you have any questions you’d like to ask Frank directly, please feel free to contact him at 805-312-3964. For questions about we covered in Episode No. 15 or about anything real estate-related, don’t hesitate to give me a call at 805-228-4672. I’d love to hear from you!

Posted in Real Estate News
April 12, 2019

The Ins and Outs of Property Title With Guest Jeff Murphy



Welcome back for episode No. 14 of The “Jose Luiz Morales Show”!

We’re happy to be joined today by Jeff Murphy from Chicago Title. Jeff is here to help us gain a better understanding of the different ways in which you can hold title to your property.  

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

1:42—Defining and explaining the various methods to take title to a property

6:20—The often-misunderstood difference between being on the loan and being on the title  

11:46—Protections you receive from working with an escrow and title company

15:48—The importance of getting a statement of information early in the process

18:40—The particulars of being added to or removed from the title

24:05—What happens after you’ve paid off the property through seller carryback financing

25:25—Buying a property as a married person as it relates to title

28:15—Jeff’s final word to consumers

If you have any questions related to real estate or about what we covered in episode No. 14 today, please get in touch with me. I’d love to hear from you!  

March 28, 2019

Interview With Scott Keighley of Cal Termite



I’m joined today by Scott Keighley, the owner of Cal Termite, who will be sharing with us some great information about California’s required termite inspections.

 

For your convenience, I’ve included timestamps of our conversation. Feel free to navigate to the section(s) you’re most interested in viewing:

 

00:23— Introduction to today’s topic

01:13— What are termites?

02:34— How to find out if a home has termites

03:29— What happens in a termite inspection?

05:31— What are the signs of subterranean termites?

06:57— What termites eat

07:40— The longer it takes to fix a termite problem, the worse it’ll get

08:47— Section 1 & 2 termites: What do they mean?

10:30— How are termites treated?

13:10— What are the costs involved?

15:22— What’s the best option for treating wood?

16:20— How termite inspections are negotiated

18:00— Lenders don’t always require a termite report

18:51— What Scott recommends during a fumigation

19:58— How does it work for condos?

20:41— Does termite work come with a guarantee?

22:08— Other services that Cal Termite offers

24:13— Conclusion to our conversation

 

I’d like to thank Scott for taking the time to speak with me today. Feel free to visit the Cal Termite website at www.caltermite.com. And if you have any real estate questions or need further information, reach out to me. I look forward to hearing from you soon.

 

March 4, 2019

Who Pays an Agent’s Commission Fee—the Buyer or the Seller?




In a real estate transaction, who pays the agent's commission fees?

This is another question I get asked a lot. The answer is the seller typically pays both their agent’s commission fee and that of the buyer’s agent. In California, the usual commission fee is 5% to 7% of the sale price. This gets paid out once the transaction closes—there is no upfront fee.


This means if you’re a buyer, your agent’s services essentially come for free. Outside of that, you’ll pay the same costs that come with a home sale that the seller does (escrow and title fees, the transfer tax, etc.), but you’ll also have to pay the closing costs of the transaction.

If you have any more questions about who pays for what in a real estate transaction or you have any other real estate needs I can help you with, don’t hesitate to reach out to me. I’d be happy to speak with you.  

Posted in Real Estate News
Feb. 11, 2019

An Interview With Chris Powell of Commercial Loan Express




When I first began dealing with flipped properties, I found it difficult to find hard money lenders. The problem was actually that I didn’t entirely understand the process; a hard money loan has a specific purpose, and if you structure it correctly, there are investment opportunities to be had. I’m joined today by Chris Powell of Commercial Loan Express, who will be helping us better understand hard money loans and how to use them.

 

For your convenience, I’ve included timestamps for the topics we discussed. Feel free to navigate to the section(s) you’re most interested in viewing:

 

(00:23)— Introduction to today’s topic

(01:40)— Chris explains what a hard money loan is

(02:16)— How can people benefit from these loans?

(03:20)— Discussing hard money loans from an investor’s perspective

(04:25)— Recalling my first investment with Chris

(06:54)— How much does someone need in a down payment while flipping?

(08:30)— Why I liked working with Chris and Commercial Loan Express

(11:53)— Why it’s nice to have a professional’s assistance

(13:13)— What types of loans does Chris handle?

(17:08)— Concluding our talk

 

I’d like to thank Chris for joining me for this discussion. You can visit his website at www.CommercialLoanExpress.com. If you’d like to talk about your real estate needs, have any questions, or need more information, feel free to reach out to me. I look forward to hearing from you soon.

Posted in Real Estate News
Jan. 15, 2019

What Can You Expect From the Future of Our Real Estate Market?



Today we’re very excited to bring you a quick Ventura County real estate market update and to answer the question “Is the Ventura County real estate market going to crash?” among others.

 

Here’s an outline of what we discussed, with timestamps so that you can skip around to the section(s) that interest you the most:

 

0:50- A quick recap of the 2018 Ventura County market and how it compares to years past.

2:55- How our current market cycle compares to the most recent one.

4:00- How inventory and demand play a huge role in the health of our Ventura County real estate market.

5:30- A closer look at the current inventory levels and how they compare to what we’ve seen in the past.

7:40- Camarillo’s latest and past inventory numbers.

8:25- Oxnard’s latest and past inventory numbers.

9:50- Simi Valley’s latest and past inventory numbers.

10:45- A few parting thoughts about what to expect for the Ventura County market in the future.

 

If you have any questions for us or would like some more information on what’s going on in your specific neighborhood, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Posted in Real Estate News
Dec. 26, 2018

The End-of-the-Year Market Update



If we take a look at Ventura County as a whole, in December 2018, we had 2,491 listings; last year, we had 2,179 listings. That means inventory in Ventura County increased 14%. Pending listings for this December have been counted at 465, whereas last year, there were 618 pending listings—this is a 24% drop year over year. Additionally, the median home price in Ventura Country dropped from $599,000 last year to $585,000 this year—a 2% decrease.
 

Now let’s look at specific markets within Ventura County:

  • Oxnard: Here, there was a 10% increase in inventory and a 17% decrease in demand year over year. The change in inventory and demand in Oxnard wasn’t as high as Ventura County as a whole, but the median home price dropped from $530,000 last year to $506,000, constituting a 4% drop.

  • Camarillo: Inventory in Camarillo increased by 37%, going from 354 properties last December to 391 this year, and pending listings decreased by 22%. The median home price went from $613,000 last year to $575,000—roughly a 6% drop.

  • Simi Valley: Inventory increased by 26%, and pendings dropped 32%. 

For these markets, we’re noticing the same trends: Inventory is increasing and demand is decreasing. This is creating a gap in the marketplace that's leading to frustration for some homeowners, as homes are staying on the market a little longer than they used to.

For Ventura County as a whole, there are 247 active homes, which is a drop from last year’s 280. So here, inventory actually decreased 11%. Here’s the catch: Just like the individual cities, demand in Ventura County also decreased by 26%, going from 95 pendings in December 2017 to 70 pendings in December 2018. Unlike some of the individual markets, however, the median price actually went up by 7%.
 

In a nutshell, inventory has grown overall in most of the cities in Ventura County, and demand has decreased, causing downward pressure because there are fewer buyers and more competition for homes.
 

If you are looking to find out what is going on in your specific area market, reach out to us. I’ve got the stats for every single city and we’re happy to share those numbers with you with no obligations attached. I’m here to help.

 

Posted in Real Estate News
Dec. 18, 2018

The Morales Group Wishes You the Best This Holiday Season

 

I just wanted to take a moment to say thank you to all of you for your support in 2018. It’s been another record-breaking year for The Morales Group and we wanted to thank you from the bottom of our hearts. We’re really grateful to have such great supporters and we hope that all of your holiday wishes come true. To all of our friends, clients, family, and neighbors, we wish you the best this holiday season and in the new year.

Posted in Community News