Hope Leitner, Realtor®, CRS

Applying for a Loan? Review Your Credit Report First When considering applying for a loan, whether it's for a new home, car, or personal expenses, one of the most critical steps you can take is reviewing your credit report beforehand. Understanding your credit standing not only prepares you for the loan application process but also empowers you to make informed financial decisions. Understanding the Importance of Your Credit Report Your credit report is a comprehensive record of your credit history, including your borrowing and repayment activities. Lenders use this report to assess your creditworthiness, determining the risk involved in lending you money. A favorable credit report can lead to better loan terms, lower interest rates, and a smoother approval process. Steps to Review Your Credit Report Obtain Your Credit Report: You're entitled to a free credit report annually from each of the three major credit bureaus—Equifax, Experian, and TransUnion. Visit AnnualCredit...

  High vs. Low Interest Rates: Pros & Cons Explained 📈 High vs. Low Interest Rates: A Comprehensive Overview 🔺 High Interest Rates Pros: Encourages Saving: Higher interest rates offer better returns on savings accounts and fixed-income investments, incentivizing individuals to save more. Controls Inflation: By making borrowing more expensive, high interest rates can help reduce spending and slow down inflation. Cons: Increased Borrowing Costs: Loans for homes, cars, and businesses become more expensive, potentially slowing economic growth.   Reduced Consumer Spending: Higher interest rates can lead to decreased consumer spending, affecting business revenues and potentially leading to economic downturns. 🔻 Low Interest Rates Pros: Stimulates Economic Growth: Lower borrowing costs encourage individuals and businesses to take loans, leading to increased spending and investment. Boosts Asset Prices: Lower rates can lead to higher asset prices, be...

The Right Way to Reduce the Price of Your Home

  You Could Use Some of Your Equity To Give Your Children the Gift of Home If you’re a homeowner, chances are you’ve built up a lot of wealth – just by living in your house and watching its value grow over time. And that equity? It’s something that could help change your child’s life. Since affordability is still a challenge, a lot of first-time buyers are struggling to buy a home in today’s market. Even if they have a stable job and a solid plan, buying can still feel out of reach. But that’s where your equity could make all the difference. To give you an idea, the average homeowner with a mortgage has  $311,000  worth of equity, according to  Cotality  (formerly  CoreLogic ). That’s significant.  And some parents are using a portion of their equity to help their children become homeowners, too. According to  Bank of America ,  49%  of buyers between 18 and 26 got money from their parents to use toward their down payment ( see chart bel...

  What Buyers Need To Know About Homeowners Association Fees When buying a home, you’re probably thinking about mortgage rates, home prices, your   down payment , and maybe even your closing costs. But you may not be thinking about homeowners association (HOA) fees. While you won’t necessarily have these, you should know it’s a possibility, depending on where you decide to live. A homeowners association is basically an organization that oversees a housing community (including shared spaces) and sets and enforces rules for things like upkeep. Some buyers love the perks that come with an HOA, others may see the fees as an extra expense. The key is knowing what they cover and whether the benefits outweigh the costs for you. The Benefits of Having an HOA Think about this. If you’ve fallen in love with a home because of how beautiful the community is – maybe it’s the landscaping, the well-maintained streets, or the overall curb appeal – there’s a good chance the HOA is one of the r...

  Don’t Let Student Loans Hold You Back from Homeownership Did you know? According to a recent study,   72%   of people with student loans think their debt will delay their ability to buy a home. Maybe you’re one of them and you're wondering: Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Having questions like these is normal, especially when you’re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily. Can You Qualify for a Home Loan if You Have Student Loans? In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here’s what  Yahoo Finance  says: " . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your...

  More Homes for Sale Isn’t a Warning Sign – It's Your Buying Opportunity Maybe you’ve heard the number of homes for sale has reached a recent high. And it might make you question if this is the start of another housing market crash. But the reality is, the data proves that’s just not the case. In most areas, more inventory isn’t bad news. It’s actually a sign of the market returning to a more stable, healthy place. What’s Going on With Inventory? Based on the latest   data   from   Realtor.com , inventory just hit its highest point since 2020, shown with the white line in the graph below. But what you need to realize is, at the same time, inventory levels still haven’t returned to pre-pandemic norms ( shown in gray ) : That means there are more homes for sale now than there have been in quite some time. And while it’s true inventory is up significantly compared to where it was over the last few years, the number of homes on the market is still well below typical lev...

Spring is still in full bloom and so is your inbox (in the best way)! My June 2025 Newsletter is dropping soon, and it's packed with everything you need to kick off the season right. From can't-miss San Diego events and community highlights, this newsletter is designed to keep you informed, inspired, and connected all month long. 🏡🌴 ✨ Want in? Make sure you're on the list! Just take a quick second to fill out the sign-up form here: https://contacts.byreferralonly.com/Form3.aspx?Key=39A817F48BF5F0FAD50B49EC6C0D3442 Let’s make the most of this summer together—whether you're exploring the city, making a move, or just soaking up the vibes. 📬 Join the list. Get inspired. Stay in the know.

  Why Would I Move with a 3% Mortgage Rate? If you have a 3% mortgage rate, you’re probably pretty hesitant to let that go. And even if you’ve toyed with the idea of moving, this nagging thought may be holding you back:   “ why would I give that up?” But when you ask that question, you may be putting your needs on the back burner without realizing it. Most people don’t move because of their mortgage rate. They move because they want or need to. So, let’s flip the script and ask this instead:  What are the chances you’ll still be in your current house 5 years from now? Think about your life for a moment. Picture what the next few years will hold. Are you planning on growing your family? Do you have adult children about to move out? Is retirement on the horizon? Are you already bursting at the seams? If nothing’s going to change, and you love where you are, staying put might make perfect sense. But if there’s even a slight chance a move is coming, even if it’s not immediate...

  Why Buyers Are More Likely To Get Concessions Right Now Especially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-downs, and more. In the industry, it’s called a concession or an incentive. What Are Concessions and Incentives? When a seller or builder gives you something extra to help with your purchase, that’s called either a   concession   or an   incentive .  A   concession   is something a seller gives up or agrees to in order to reach a compromise and close a deal.  An   incentive , on the other hand, is a benefit a builder or seller advertises and offers up front to attract and encourage buyers. Today, some of the most common ones are: Help with closing costs Mortgage rate buy-downs (to temporarily lower your rate) Discounts or price reductions Upgrades or appliances Home warranties Minor repairs For buyers, getting any of thes...

  Home Projects That Boost Value Whether you’re planning to move soon or not, it’s smart to be strategic about which home projects you take on. Your time, energy, and money matter – and not all upgrades offer the payoff you might expect. As   U.S. News Real Estate   explains: ". . . not every home renovation project will increase the resale value of a home.   Before you invest in a swimming pool or new addition, you should   consider whether the project will pay itself off by getting prospective buyers in the door when it’s time to sell. " That’s why, before you pick up a power tool or call a contractor, your first step should be talking to a local agent. Planning Ahead Pays Off If you plan to move relatively soon, you’ll want to get a jump start on your to-do list. And even if moving isn’t on your radar yet, life can change quickly – and a new job, a growing family, or shifting priorities can fast-track your plans. You don’t want to be scrambling to fix up your...