Just Listed – Covina, CA

4739 N Conwell Ave. Covina, CA 91722 | Offered at $699,900

FEATURES

bedrooms

4

baths

2

Sq ft

1,196

lot

7,164

built

1954

Central

A/C and Heat

Garage

1 car, attached

POOL

Patio & Grill

Welcome to this charming POOL home in the desirable city of Covina! Fresh paint, and laminate flooring throughout this spacious 4 bedroom 2 bathroom home showcasing high ceilings and accent beams. Featuring CENTRAL A/C and heat, cozy fireplace, an upgraded kitchen with granite countertops, and ample cabinets for storage. The master bedroom features a walk-in shower en suite. Updates include: dual pane windows, electrical panel, plumbing, recessed lighting, new bathroom vanities. Back yard includes 2 patio areas for shade during pool gatherings, and bbq area. One car garage is attached, and home features a double driveway for RV or boat parking, can easily park 5+ vehicles. Conveniently located near shopping, restaurants, parks, and easy access to freeways. MUST SEE!

MLS# DW23030864

4
March2023
OPEN HOUSESaturday
1-4pmCovina, CA
5
March2023
OPEN HOUSESunday
1-4pmCovina, CA

DESIREE ESTRADA 

REALTOR®
c:  323.543.1881
e:  desiree@revelrealestate.com
o: 9320 Wilshire Blvd. Suite 100-A Beverly Hills, CA 90212


10 Signs You May Be Ready To Buy A Home

white towel on white wooden sofa
  1. You have been working consistently for 2 years in the same field.
  2. Your rent is getting too expensive, or frustrated with annual rent increases.
  3. You want to build a real estate portfolio.
  4. You have money saved for a down payment, or closing costs, or home maintenance.
  5. You earn a high income and want to invest or need a tax write off.
  6. You’re relocating for a job or from out of state.
  7. You know someone willing to co-sign or gift you funds.
  8. You just graduated college and are working in your major.
  9. Your debt is manageable.
  10. Your credit score is above 600.

Ready to leave renting behind? Before you start looking at homes for sale, shop around, compare lenders and get pre-approved for a mortgage. Pre-approval helps you know how much house you can afford and what loan program is best for your situation.

There are various programs, solutions, and complimentary guidance if want to make your dream of homeownership a reality. We are available to create a plan that works for you.

DESIREÉ ESTRADA
Realtor®  #01981121
w:  estradadesiree.com
e:  desiree@revelrealestate.com
o: 9320 Wilshire Blvd. 100-A Beverly Hills, CA 90212
Schedule a Consultation

8 Home Loan Options

Whether you’re a first time home buyer or a seasoned homeowner, there’s a mortgage program that’ll meet your needs. New programs are constantly being released or are available for limited time but here are 8 commonly used options.

palm trees under blue sky

California Mortgage Terms

The term, or duration, of most mortgage programs in California is 30 years followed by 15-year mortgages. Adjustable Rate Mortgages have the shortest terms and require borrowers to refinance their mortgage in the future to reset the term and rate, typically to a fixed-rate mortgage.

4 Government-Insured Home Loans

1.FHA Loan

FHA loans are popular kinds of mortgage programs in California for first-time home buyers. FHA loans allow down payment gifts from blood or by-marriage relatives. Many first-time home buyers get started with a little financial help from their families.

Requires:

  • 3.5% down payment
  • FICO scores down to 620 (and sometimes lower, depending upon circumstances) are allowed.

If you make a smaller down payment (less than 20%), an annual mortgage insurance premium (MIP) is required. MIP is paid monthly and tacked onto the principal, interest and insurance portions of the payment. To get rid of FHA mortgage insurance, borrowers must refinance into another type of loan, typically switching over to a conventional mortgage.

FHA loans have a one-time, upfront mortgage insurance premium (UFMIP) at the time of closing.

While popular with first time home buyers, California FHA loans can also be used by anyone as long as they’ve not owned or had an interest in a property in the last three years. But that doesn’t mean you can go out and buy a home in Malibu with an FHA loan. FHA loan limits, for one-unit properties, are:

  • $420,680 floor in low-cost areas
  • 115% of median home prices in the county, or a maximum of
  • $970,800 ceiling in high-cost areas.

2. VA LOAN

Requires:

  • $0 down
  • FICO scores down to 620.
  • VA eligibility certificate
  • VA funding fee (usually 2% of loan, unless eligible for a service-related disability).

Borrowers must be active duty or honorably discharged veterans (and in some cases qualifying spouses). Unlike other government-sponsored loans, no mortgage insurance is required. However, there is one-time, upfront VA Funding Fee. Like other programs, loan limits apply. California VA loan limits, for one-unit properties, are:

  • $647,200 in low-cost counties
  • $970,800 in high-cost counties

3. STATE PROGRAMS

The California Housing Finance Agency (CalHFA) was established in 1975 to help low and moderate income Californians get safe and affordable housing. First-time home buyer programs in California include two down payment assistance programs, each of which can be combined with standard mortgages. Qualifying FICO score is usually 680.

  • MyHome Assistance Program is a small loan (5% of loan amount) to help offset the down payment and closing costs for first time buyers. The loan is deferred; you don’t have to pay it back until the home is sold or paid in full.
  • Zero Interest Program (ZIP) is very similar to MyHome above, but the loan amount is 3% of the total mortgage and carries 0% interest rate. ZIP repayment is also deferred.

The interest rate for the state programs are usually double the standard rate, and can affect your monthly payment or loan qualification but is a great option for certain needs.

4 Conventional Home Loans

1. CONFORMING LOAN

A conventional loan is also called a “conforming loan” when it meets guidelines set by Fannie Mae/Freddie Mac, two government-sponsored entities (GSEs) that acquire the bulk of mortgages after they are made between a lender and a borrower. One major restriction on conforming loans is their size. They cannot exceed California conforming loan limits, which are:

  • $647,200 floor in low-cost areas.
  • $970,800 ceiling in high-cost areas.

In the past, conventional programs required 20% down payment. The combination of higher credit score and down payment requirements earned conventional loans the reputation as being “out of reach” to most first time buyers. Like their government-insured counterparts, conventional mortgages require mortgage insurance when the loan-to-value is greater than 80%. Conventional loans use private mortgage insurance (PMI). PMI goes away on its own, over time, as the LTV gets to 80% or lower. That’s a stark contrast to FHA loans which carry mortgage insurance for the life of the loan (borrower must refinance to get out of MI).

Requires:

  • 5-20% down
  • FICO scores down to 680, 740 is ideal for a competitive interest rate.

2. CONVENTIONAL 97

Conventional 97 loans are a type of low down payment mortgage for first time home buyers with good credit. Borrowers only need to come up with a 3% down payment, which then creates a mortgage balance of 97% loan to value (LTV), hence “97” in the mortgage product’s name. 

3. HOME POSSIBLE

Home possible is affordable given the smaller 3% to 5% down payment requirement. The one that’s right for you will depend upon your income, the type property you wish to finance, and property location. Home Possible mortgages are designed for low to moderate-income homebuyers and are well-suited for first-time home buyers and younger borrowers.

4. JUMBO (NON CONFORMING)

Home prices in California are high compared to many states in the United States. Borrowers here sometimes need a bigger loan, one that exceeds conforming loan limits. That’s when jumbo mortgages come in handy. Jumbo loans are available in amounts up to $3 million.

You know you need a jumbo loan if the size of it exceeds the loan limits posted above.

Find out how much you can borrow, estimated costs, monthly payments, programs, and more. Complimentary loan consultation with our preferred lender.

CONNECT WITH OUR LENDING TEAM

DESIREE ESTRADA 

REALTOR®
c:  323.543.1881
e:  desiree@revelrealestate.com
o: 9320 Wilshire Blvd. Suite 100-A Beverly Hills, CA 90212




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Eviction moratorium: LA City votes to end COVID renter eviction protection

Eviction moratorium: LA City votes to end COVID renter eviction protection
The moratorium will end Jan. 31, 2023. Tenants who have missed payments since March 2020 would have to meet two re-payment deadlines.

LOS ANGELES – The Los Angeles City Council voted Tuesday to end the eviction moratorium that was placed during the COVID-19 pandemic to help renters.

The council voted 12-0 to approve a package of recommendations from a council committee, following a spirited public comment session that featured both tenants advocating for continued protections and mom-and-pop landlords pleading for the restrictions to end.

The moratorium will end Jan. 31, 2023. Tenants who have missed payments since March 2020 would have to meet two re-payment deadlines. Under state law, they would have until Aug. 1, 2023, to pay back missed rent between March 1, 2020, and Sept. 30, 2021. Under the city’s moratorium, tenants would have until Feb. 1, 2024, to re-pay rent accumulated from Oct. 1, 2021 to Feb. 1, 2023.

Landlords would be able to resume increasing rent on rent-controlled apartments, which account for three-quarters of apartments in Los Angeles, beginning in February 2024.

The city would provide relocation assistance for all evictions deemed no-fault evictions and protections against no-fault evictions for unauthorized pets for an additional year.

Another recommendation from the committee would implement universal just cause rules, requiring specific reasons for landlords to evict tenants in all units, not just those under rent control.

Rent controlled housing accounts for three-quarters of apartments in Los Angeles.

Council President Nury Martinez called the vote a compromise that “preserves the livelihood of our renters while still transitioning from COVID- era protections to permanent tenant protections.”

“We cannot let this burden fall on either side, whether it’s the tenants or the mom-and-pop landlords,” Martinez said. “This policy that was put into place two years ago was intended solely to keep people housed and keep them off the streets. Now it is time that we not only keep people off the streets, but we also protect people’s housing and preserve their financial well- being.”

For the past few months, council members have grappled with those two sides. Housing groups believe ending the moratorium will place thousands of families impacted by the pandemic into limbo, while landlords claim current conditions are different from those at the onset of the pandemic and renters should no longer be able to use COVID-19 hardship as a reason to eschew paying rent.

The council voted to explore initiating universal just-cause rules, which would require specific reasons for landlords to evict tenants in all units, not just those under rent control. It also supported providing relocation assistance for all evictions deemed no-fault evictions.

Tenants also cannot be subjected to a no-fault eviction for unauthorized pets until Jan. 31, 2024. Other renter protection plans were noted as “report backs,” with several council members urging the city to enact those protections before the moratorium expires next year.

– Fox LA news

Desiree Estrada – Los Angeles Realtor

The Pros & Cons of Buying a Mobile Home

Features of the Modern Mobile Home

Mobile homes, also known as “manufactured homes,” are built in a factory and placed on a trailer chassis to allow them to be moved. Mobile homes are sometimes placed in a mobile home park or on leased land. In these cases, the owner rents a space or leases land, but owns the mobile home itself.

Alternatively, mobile home owners can place mobile homes on land they own or are buying under contract.

The Pros:

  1. Affordability: The average cost per square foot for a manufactured home is $49 per square foot versus $107 per square foot for a traditional home built on site.
  2. Structural Strength: All manufactured housing sold in the United States bears a permanently affixed “red seal” to show that all requirements of what is sometimes termed the most stringent certification process in the building industry have been met.
  3. Versatility: A basic manufactured home can be extremely affordable, families who own an appropriate site can start small, with the option of adding additional manufactured modules as their needs change.
  4. Energy Efficient and Eco-Friendly: Today’s manufactured housing is 27 percent more efficient than it used to be. 
  5. Lower Taxes: As long as your manufactured home is installed on your own private land, you can get a lower property tax compared to when your home is considered real property.

Manufactured homes have become a primary part in addressing the problem of housing shortage as a result of high prices and demand.

The Cons:

  1. Availability and Cost of Suitable Land: There can be a shortage of available land with proper access and existing utility service. In some areas, the land is deed-restricted to require site-built construction.
  2. Lingering Stigma of Mobile Homes: Verify zoning restrictions and limitations.
  3. Lender Requirements: If they decide to lend, the end up charging very high rates and offering terms that are not friendly. The alternative to a mortgage is a personal property loan which can involve even more stringent qualification requirements, additional cash investment, and less favorable terms.
  4. Foundation and Land Lease fees: Balancing the costs of various foundation choices and land lease fees sometimes exceed the cost of a stick-built mortgage.
  5. Long-term Value: The market value of manufactured homes depreciates with time, which is disadvantageous especially if you plan to resell your manufactured home in future. In California, manufactured homes depreciate fast when they are not maintained well. Just like a car after leaving its dealership company, the value of manufactured homes plummets once it has left the factory.
  6. Mobile? Not Really: Many manufactured homes are “grounded” with concrete foundations, decks, site-built porches, garages, patios, and lush landscaping, situated in subdivisions with abundant amenities for upscale lifestyles.
  7. Park Policies: This means that, it doesn’t matter how much you spend on your manufactured home, as long as you don’t own the land it is installed on, you will have a landlord.

As with any major purchase, the decision must depend on a family’s individual needs and circumstances. When you weigh the pros and cons of buying a mobile home, the value becomes apparent and the uncertainty of “are mobile homes a good investment?” fades away for sure. Before planning to get your “sweet home”, be sure to evaluate your own specific housing goals and plan the right process for it.


All data is deemed reliable but is not guaranteed accurate by the RLS or Revel Real Estate. See Terms of Service for additional restrictions. © 2020.. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity. 

Just Listed – Santa Clarita, CA

28238 Newbird Dr. Santa Clarita 91350 | Offered at $749,900

FEATURES

4 bedrooms

2 bathroom

Square Ft

1,491

LOT

7,164

Built

1969

Garage

2 Car – Attached

New Roof

New Paint

Inside & Exterior

Welcome Home to Santa Clarita – Bouquet Canyon Hills within a Top Rated School District!!! Beautifully upgraded home features 4 bedrooms and 2 bathrooms with 1,491 living space on a spacious 7,164 lot. Upgrades include: NEW Efficiency Tankless Water Heater, NEW A/C, NEW Roof, NEW ceiling fans, NEW automatic sprinklers, NEW Freshly painted exterior, and more! The open layout with NEW paint throughout, includes a wood burning Fireplace in the living room and Nest controlled Central HVAC. Updated kitchen with Granite countertops is beautifully naturally lit with over the sink window providing a view of the back yard, and expansive windows in the dining area. The master suite includes a walk in closet, and en-suite bathroom with a walk in shower. The private back yard features a patio, perfect for entertaining loved ones, and includes a utility shed for ample storage. Laundry with NEW sink in the 2 car attached garage features NEW Insulation for energy efficiency. NO HOA or Mello Roos, this home is Move-in ready!

MLS# DW22072764

23
April2022
OPEN HOUSESaturday
1-3pmSaugus, CA
24
April2022
OPEN HOUSESunday
1-3pmSaugus, CA

DESIREE ESTRADA 

REALTOR®
c:  323.543.1881
e:  desiree@revelrealestate.com
o: 9320 Wilshire Blvd. Suite 100-A Beverly Hills, CA 90212


Just Listed – Pico Rivera, CA

8612 Passons Blvd. Pico Rivera 90660 | Offered at $549,900

FEATURES

2 bedrooms

1 bathroom

Square Ft

814

LOT

5,103

Built

1950

Garage

Converted to Living Quarters

New Roof

New Paint

Inside & Exterior

Beautiful upgraded home in the city of Pico Rivera, bordering Downey, CA ready to move in! Updated flooring and fresh paint throughout the 2 bedroom 1 bathroom home with BONUS laundry room, BONUS exterior bathroom and BONUS Converted Garage into a STUDIO with Kitchenette and Bathroom. The Open Concept Kitchen is also updated with a bar top counter to host guests. Large back yard all recently cemented for low maintenance and perfect for gatherings. Back yard includes a storage built-in and patio for shade during summer events featuring an exterior bathroom for guests to use when hosting family and friends. NEW ROOF installed, and a converted garage to a studio perfect for additional income, or to have a friend or loved one stay with privacy. So many upgrades and ad-ons you must see!

MLS# DW21244552

13
November2021
OPEN HOUSESaturday
1-3pmPico Rivera, CA
14
November2021
OPEN HOUSESunday
1-3pmPico Rivera, CA

DESIREE ESTRADA 

REALTOR®
c:  323.543.1881
e:  desiree@revelrealestate.com
o: 9320 Wilshire Blvd. Suite 100-A Beverly Hills, CA 90212


Home Buying Guide

Welcome!

If you’re considering buying a new home but don’t know where to begin or what you need. Download a free version of our buying guide.

Step 1 towards homeownership: consultation. We look forward to assisting you through the process.

DE Team

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Download a free version of our buying guide & free app which works directly with the MLS.

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Frequently Asked Questions

  1. HOW CAN I BUY WITH $0 DOWN?

The most common $0 down program for Veterans is VA Loan requiring 620+ Credit, and the Calhfa Loan requiring 680+ credit score. There are various programs with $0 down, but will all still have fees to consider. Contact me to schedule a free pre qualifying appointment to see which loan is best for your needs.

2. HOW CAN I BUY WITH DACA?

The home buying guides for DACA are constantly changing, but you can currently use the CONVENTIONAL Loan. To maximize your qualification work towards a 740+ credit score, you can buy with as little as 3% down.

3. HOW CAN I BUY WITH AN ITIN?

The ITIN program requires 15-20% down, if you have the savings ready contact me to schedule an appointment to see if this program makes sense for your needs.

4. WHERE DO I START TO BUY A HOME?

The basic general requirements are 1) Two years of stable income & filing taxes [unless you just graduated with a degree and started working in the field you studied]. 2) A minimum credit score of 620+. 3) Savings in your bank account, at least 3.5% of the home price. Once you have those basics ready, contact me to start!


10 Curb Appeal Tips

In real estate, an attractive exterior can make or break a home sale. 

Why Curb Appeal Matters

First impressions are everything – at least when it comes to selling your home. 63 percent of homebuyers will drop by after viewing a home they like online. What will they see? The home’s exterior – including the front entry, yard, driveway and sidewalk — should serve as a snapshot of what’s to come when potential buyers enter your home. Read on to learn 10 ways you can wow homebuyers from the curb.

1: Roof

Most homeowners don’t give their roofs a second glance, but the roof is an important curb appeal item that buyers do notice. Is yours missing any shingles, or is it dingy and streaked? A good cleaning or, if necessary, a roof replacement will up your home’s curb appeal factor tremendously.

2: Shiny, Happy Numbers

If your house numbers aren’t easy to see or if they’re dirty and dingy, replacing them carries a tremendous impact.

3: Wash

Budget-conscious homeowners will love this tip: Pressure-washing the dirty siding and deck, as well as the oil-stained driveway and faded walkways is an extremely cost-efficient way to increase your home’s curb appeal. If you don’t own a pressure washer, you can rent one from your local home improvement store for the day.

4. Trim

One of the most common curb appeal killers, and easiest fixes, is to simply give those tall and window-obscuring shrubs and bushes out front a nice flat-top trim. Letting prospective buyers see the full front of the house with windows and all will go a long way toward unloading your house quickly.

Regularly care for your lawn by mowing the grass, raking off leaves, and pulling weeds. Keep it well watered to prevent brown spots. As long as you keep up with it, lawn care won’t become a huge project. 

5. Plants

Except for the dead of winter, some types of annual plants are always in bloom. Spruce up your porch containers, window boxes and front beds with some colorful flowers for instant lift. A few inches of dark mulch will brighten up the beds.

6. Paint

Paint is only about $25 per gallon, and painting the front door, trim and shutters is a great way to polish the look of your home. Other inexpensive fix-ups: a new mailbox, a new porch light fixture and a cheery new welcome mat.

7. Driveway

If your driveway is cracked or stained or has vegetation sprouting from it, you can upgrade it for curb appeal without doing a complete redo. First repair the cracks and stains (and kill the weeds), then dress it up by staining the concrete or affixing flagstones. If you need more room to move your car or park, add stone, brick, or pavers to the sides of the drive to widen it with a decorative border. Establishing a crisp, clear shift between paved and unpaved surfaces can help to set off a driveway and enhance a landscape.

8. Walkway

If the main walkway up to your house is a boring series of concrete slabs or is broken, cracked or otherwise rundown looking, you can easily create a new one for not much money. Cool flat flagstones can be attached to good, but bland, concrete or try laying out your own brand new walkway, just ask a home improvement store for tips.

9. Fix it up

Take care of any small repairs, like ripped screens, or burned out bulbs. Even tiny flaws can stand out against an otherwise picturesque exterior, so it’s worth taking a day to fix them. Walk around the outside of your house noting anything that requires a quick fix, and then get the tools you need and get to work.

10. Keep it simple

Whatever you’re planning on doing, don’t overdo it. Just keep it clean and tidy so that the whole place looks aesthetic and composed.

Giving your home a curb appeal boost can be done in just a day or weekend if you plan ahead and prioritize the projects that will really make a difference. Chances are, your home already has plenty of beautiful elements and it just needs some finishing touches to really look its best. Put some time and effort into it and you’ll be amazed by the results.


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BUYING | SELLING | CONTACT ME

All data is deemed reliable but is not guaranteed accurate by the RLS or Century 21. See Terms of Service for additional restrictions. © 2020. Century 21 Allstars. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. We are an equal housing opportunity provider. Consistent with applicable law, we do not discriminate on the basis of race, creed, color, national origin, sexual orientation, lawful source of income, military status, sex, gender identity, age, disability, familial status (having children under age 18), or religion. Equal Housing Opportunity.