Hope Leitner, Realtor®, CRS

Happy New Year! May 2022 be filled with joy!   Exciting things are happening! We have a little bit more time to enjoy the ice rink at Liberty Station before it goes away. There are two great film festivals happening. One in Borrego Springs and the other is the second largest Black Film Festival on the West Coast.    If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this link.   MONTHLY WORD OF ADVICE:  Just like you have your taxes reviewed every year, you should have your home value reviewed as well. Give me a call to find out your home's current value.   Remember, I am always here for my clients and their friends and family.   Your trusted real estate agent, Hope Leitner

Soft inquiries, sometimes known as a soft credit check or a soft credit pull, do not impact your credit scores because they are not attached to a specific application for credit.   They can occur when a credit card issuer or mortgage lender checks a person's credit for preapproval purposes. Examples of soft inquiries are when you check your own credit or one of your current creditors checks your credit.   If you are concerned about the negative impact on your score, specify to the lender that you want a "soft pull" to see if you qualify for preapproval. Soft inquiries may appear on your credit report but should not adversely affect your credit score. Consumers are entitled to one free copy from each major credit bureau, Experian, Equifax and TransUnion, once every twelve months available at AnnualCreditReport.com .   Hard inquiries occur when a borrower makes a new application for credit.   These will impact your credit score and will remain on your credit report

When the situation arises that you have a lump sum of cash to pay down your existing mortgage,  there may be different options available.   Pre-paying principal on a fixed-rate mortgage shortens the term of the mortgage but the payment stays the same. Conversely, recasting a mortgage with a lump-sum principal payment lowers the principal and interest payment but leaves the term intact with the same payoff date. The interest rate on the mortgage will stay the same regardless.   Prepaying principal can be done at any time but may not be applied until the next payment date.   Recasting cannot be done within the first 90-days of a mortgage. Pre-paying principal is like driving faster on a trip to a specific destination to get you there sooner.   Recasting/Re-amortization gets you to the destination at the same estimated time of arrival but using less fuel. Most loans allow you to pre-pay principal, but recasting is not allowed on FHA, VA, and GNMA.   If you have a conventional loan

  The market has been slowing for the season. But, the opportunities are still there... If you are looking to buy, consider doing it now before the rates go up. If you're thinking of selling - there might not be a better time. Sign up to have this market update delivered your email inbox every month. https://bit.ly/3yKTK5m 

 With the New Year just around the corner finances are at the top of everyone's list. This month's newsletter explores some ways you could be affected by current market conditions.  Whether you're trying to buy, or sell, or if you are looking to save money, there are things to consider when it comes to real estate financing. Read more below.  If you have questions, or if you need me to refer you to an excellent loan officer, you can always give me a call. Click here to find out how to select a loan officer and key items to consider.  Learn more click here.  I am here to support you whatever your real estate needs might be.  When you are ready to make the decision to buy or sell, give me a call. As always, I am here for you, your family, and friends.  Hope Leitner, CalDRE #01874321 Your Trusted Real Estate Agent HOMEBUYERS, HOME SELLERS, MARKET CONDITIONS, FINANCE Slowing Sales Create Opportunity After an astonishing 114 consecutive months of year-over-year home price g

Do you remember if or when you have replaced your washing machine hoses?   Are they the original hoses and if so, how old is your washing machine?   It is recommended that washing machine supply hoses should be replaced every five to seven years.   Washing machines, like all appliances, are expected to work and when they don't, it's time to have them fixed or replaced.   However, there is a critical connection from the water supply that may even be older than your washing machine itself. Eventually, unless hoses are replaced, they will fail, which on the mild side could be slow leaks or burst entirely, and could cause a catastrophic flood in the home.   The failure could come from a number of causes including age, improperly installation, poor-quality materials or poor design. The hoses are generally under the same pressure as the other plumbing in the home.   Imagine having an open faucet running directly on your floor. Ask someone whose hose broke while they were asle

The Fannie Mae and Freddie Mac loan limits are adjusted annually to keep up with cost of living but with the appreciation experienced in many markets, it may not be enough. When the conforming loan limit is not enough, qualified buyers can turn to a jumbo loan. The maximum loan limit on conforming, conventional loans for 2022 is $625,000 for a single-family home but is increased up to $937,500 for designated high price areas.   The underwriting guidelines for conforming loans are consistent with regards to things like minimum down payment, private mortgage insurance, debt-to-income ratio, minimum credit score and cash reserves required. Jumbo loans are loans more than the FNMA maximum limits and are considered non-conforming loans.   This allows lenders to set their own requirements on maximum loan amount, minimum required credit score, maximum debt-to-income ratio, and minimum down payment. The rates paid on the jumbo loans may be the same as conforming loan rates.   It might so

  Check out all the fun things happening in San Diego County this December! Sign-up to receive this calendar in your email inbox each month. https://bit.ly/3xdOfLx

  Information is brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties How to Choose the Best Houseplants Just like picking paint and furniture, it’s important to spend time choosing the best plants for your interior space. Not only should you be considering the care your new plant friends will need, but also how they will impact your space as they grow to their full forms. Below are several tips for picking the best houseplants. Understand sun exposure . The quickest way to shrivel a houseplant is by giving it the improper amount of sunshine. Take the time to get to know the sunniest and shadies areas of your interior, and pick plants that thrive in that environment. Consider maintenance.  If you’re choosing houseplants that need a good amount of TLC—water, trimming, etc.—make sure you have the time in your schedule and bandwidth in your brain to take this on. If not, pick a plant that needs minimal attention, like a succulent. Pick proper containers.  L