What is happening with the California housing market? With the market showing signs of slowing, what should we expect in the housing market as we move towards the end of 2020 into the housing market 2021? In this video, we discuss the latest home sales and price report from the California Association of Realtors as well as affordability in California and how my housing market 2021 forecast could change if this one thing takes place in the next few months.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

➡Articles referenced in this video:

Third quarter california housing affordability –https://www.car.org/en/aboutus/mediacenter/newsreleases/2020releases/3qtr2020affordability

October Home Sales and Price Report – https://www.car.org/aboutus/mediacenter/newsreleases/2020releases/oct2020sales

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

Is it still a good time to refinance? Should you refinance now or wait? When should you refinance your mortgage? How many times can you refinance? How soon after refinancing can you refinance again? In this video, I discuss all of these refinancing questions and give you 4 reasons that you should consider potentially refinancing your mortgage in the housing market 2020 or housing market 2021.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

Article that influenced today’s video:

➜https://money.com/mortgage-rates-refinance-or-wait/

When Should I Refinance My Mortgage?

With interest rates at all time lows, the question “when should I refinance” comes up quite a bit. When that question comes up, I often ask clients “what’s your goal” and more often that not, they aren’t sure of their goals and so it becomes a difficult question to answer. If your plan is to be in your home forever or at least keep it as an investment property later down the road then getting a lower interest rate will likely pay off but if you are planning on selling your home in a short period of time or really not sure what the future holds then make sure you consider all options because a lot of times people end up paying more money than the cost savings they receive by refinancing.

In my experience there are 4 times when you should SERIOUSLY consider refinancing your home loan.

✔If you are getting out of an adjustable rate into a fixed rate loan.
✔If you are getting rid of PMI (mortgage insurance)
✔If you can lower your interest rate and the cost to do so makes financial sense.
✔If your credit score has improved since you last refinanced or purchased

If you are able to refinance out of an adjustable loan and get into a fixed rate loan to a payment where you are comfortable then I think it’s always a good thing to consider. In some cases, homeowners only plan on being in a home for a short period of time and in that case, a longer term loan may not make sense but more often that not I see a lot of homeowners stay longer in their homes than they ever intended and are in a position where they may have an adjustable loan coming due where the rate will adjust to a higher payment. In this case, refinancing is something you may want to consider.

Another scenario where it makes sense to refinance is when you have PMI on your current loan and you are now in a position where you have 20% equity in your home and you can refinance to get rid of the PMI. In most cases this will make sense but make sure you are looking at the cost and the savings to make informed decisions.

If you can lower your interest rate and the costs to refinance (appraisal, processing fees, lender fees, etc..) makes sense then it something you should consider. A quick example would be…….if it costs you $5K to refinance but you are only saving $100/month then it’s going to take you over 4 years to recoup your costs. If you know that you are planning on selling in a year then it’s likely not a good idea to refinance but on the other hand, if you can get away with a no cost refinance (where they are not adding it to the balance of your loan) and you can save money then it may be an option you should consider.

Lastly and probably the most common that I see is refinancing and pulling cash out to pay off existing debt. You still have to consider the fees that are being charged in order to refinance and make sure that it makes sense but if you can pay off debt and lower your total monthly payments then refinancing should be a consideration.

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
✔I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

Is there a wave of foreclosures coming to the market? How do you buy foreclosures? Can you really buy foreclosures cheap? What is the downside of buying a foreclosure? In this video, we discuss the new law in California that would make buying foreclosed homes easier for owner occupant buyers when competing against investors as well as the pros and cons of buying a foreclosure.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

Articles referenced in this video:

➜➜SB-1079 Residential property: foreclosure – https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201920200SB1079

Other Articles on the foreclosure and eviction moratorium:

➜➜FHFA Extends Foreclosure and REO Eviction Moratoriums – https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Extends-Foreclosure-and-REO-Eviction-Moratoriums.aspx

➜➜FHA EXTENDS FORECLOSURE AND EVICTION MORATORIUM FOR HOMEOWNERS THROUGH YEAR END –https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_134

➜➜COVID-19 Tenant Relief Act –
https://caanet.org/caa-negotiates-upcoming-covid-19-tenant-relief-act/

I hope this housing market 2021 update provides you with insight on the potential foreclosure and eviction wave that is supposedly coming and what you consider if you are thinking of buying a foreclosure

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? Do you believe there is a foreclosure wave coming after the moratorium ends? After watching this video, do you believe there is a real estate bubble or a housing market crash 2021 coming?

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
✔I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

What does the housing market look like with President-Elect Biden at the wheel? Will the housing market 2021 look like housing market 2020? In this housing market forecast video, we discuss inventory, buyer demand, foreclosure, evictions, forbearance as well a potential tax credit for first time home buyer and how all of that may affect our 2021 housing market.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

➡Articles referenced in this video:

“Former Vice President Joe Biden has proposed a $15,000 tax credit to help first-time homebuyers purchase a property.”
https://www.housingwire.com/articles/bidens-15000-first-time-homebuyer-tax-credit-explained/

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

Are you considering buying a house but not sure where to start? Where do you apply for a loan? How do you qualify for a home loan? What documents are needed when applying for a home loan? Can you get a mortgage with low credit scores? In this video, we discuss how to get approved for a home loan from where to go to apply for the loan as well as what most lenders are looking at when approving you for a home loan.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

How to get approved for a house loan

✅ Gather the necessary documentation that we discussed in the video
✅Go into your local bank or call a mortgage broker to start the approval process

FHA loan 2020 requirements

✅FICO® score at least 580 = 3.5% down payment.
✅FICO® score between 500 and 579 = 10% down payment.
✅MIP (Mortgage Insurance Premium ) is required.
✅Debt-to-Income Ratio less than 43%. (Actually you can go much higher than this)
✅The home must be the borrower’s primary residence.
✅Borrower must have steady income and proof of employment.

FHA Videos You May Find Helpful:

➡FHA Closing Costs Explained – FHA Loan 2020 – First Time Home Buyer – https://youtu.be/6bCo1XXHENg
➡FHA Loan Qualifications – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/1SC6WgAJ2yk
➡FHA Loan 2020 – FHA Loan Requirements – First Time Home Buyer – https://youtu.be/wp-2c_EdcrU
➡FHA Pros and Cons – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/fOWjRGQmKDM
➡Buying a home using FHA – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/8KCzd8GPH_w

➡ Home Buying Videos You May Find Helpful:
5 Most IMPORTANT Steps to writing an offer on a house – First Time Home Buyer – https://youtu.be/Eskq9g_9sOo
➡ Buying Real Estate in a CRAZY Market – https://youtu.be/WLH0UlGmD9U
➡Step by Step Process of Buying a House in 2020 – https://youtu.be/myJ1h0ykhts
➡Do I get my deposit back if I cancel escrow? – https://youtu.be/0RMy9iNTu54
➡What Stays when buying or selling a house? – https://youtu.be/XH6c9-omN24
➡Appraisal vs Home Inspection – https://youtu.be/cwjokWbr1Go

Are you in the process of buying a home? If so, how’s it going? Are you finding success in today’s real estate market or are you constantly being outbid by higher offers? What are you doing when writing an offer to purchase a home that is making your offer stand out? Please comment below.

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

The housing market is starting to show some mixed signals between the Existing Home Sales data and the Pending Home Sales Data, is this the start of the 2021 housing crisis or is this normal for this time of year? What’s in store for our housing market with the eviction and foreclosure moratorium expiring at the end of the year? In this video, I discuss all of these points to give you my thoughts on the housing market 2020 for November as well as my housing market predictions for 2021.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

Articles mentioned in this video:

➡Pending Home Sales Falter 2.2% in September
https://www.nar.realtor/newsroom/pending-home-sales-falter-2-2-in-september

✔After four straight months of contract activity growth, pending home sales declined slightly in September by 2.2%. The Northeast was the only region registering a monthly gain.
✔Nationally, contract signings climbed 20.5% compared to a year ago.
✔All four regions experienced double-digit year-over-year increases.

➡Existing-Home Sales Soar 9.4% to 6.5 Million in September
https://www.nar.realtor/newsroom/existing-home-sales-soar-9-4-to-6-5-million-in-september

✔Existing-home sales grew for the fourth consecutive month in September to a seasonally-adjusted annual rate of 6.54 million – up 9.4% from the prior month and nearly 21% from one year ago.
✔The median existing-home price was $311,800, almost 15% more than in September 2019. Total housing inventory declined from the prior month and one year ago to 1.47 million, enough to last 2.7 months – a record low – at the current sales pace.
✔More than 7 in 10 homes sold in September 2020 – 71% – were on the market for less than a month.

I hope you appreciate this update on the real estate market 2020 for the california real estate market as well as this real estate market update from your local Huntington Beach Real Estate Realtor, Jeb Smith.

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

Are you a first time home buyer using an FHA Loan and wondering how much money you need for closing costs? In this video, I break down a closing statement from a recent client who closed using an fha loan. We discuss fha closing costs, the upfront mortgage insurance premium and help you make sense of how much money you need to close using an fha loan in this scenario.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

What is a fha loan? An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by an FHA-approved lender.

FHA loan 2020 requirements

✅FICO® score at least 580 = 3.5% down payment.
✅FICO® score between 500 and 579 = 10% down payment.
✅MIP (Mortgage Insurance Premium ) is required.
✅Debt-to-Income Ratio less than 43%. (Actually you can go much higher than this)
✅The home must be the borrower’s primary residence.
✅Borrower must have steady income and proof of employment.

FHA Videos You May Find Helpful:

➡FHA Loan Qualifications – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/1SC6WgAJ2yk
➡FHA Loan 2020 – FHA Loan Requirements – First Time Home Buyer – https://youtu.be/wp-2c_EdcrU
➡FHA Pros and Cons – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/fOWjRGQmKDM
➡Buying a home using FHA – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/8KCzd8GPH_w

➡ Home Buying Videos You May Find Helpful:
5 Most IMPORTANT Steps to writing an offer on a house – First Time Home Buyer – https://youtu.be/Eskq9g_9sOo
➡ Buying Real Estate in a CRAZY Market – https://youtu.be/WLH0UlGmD9U
➡Step by Step Process of Buying a House in 2020 – https://youtu.be/myJ1h0ykhts
➡Do I get my deposit back if I cancel escrow? – https://youtu.be/0RMy9iNTu54
➡What Stays when buying or selling a house? – https://youtu.be/XH6c9-omN24
➡Appraisal vs Home Inspection – https://youtu.be/cwjokWbr1Go

Are you in the process of buying a home? If so, how’s it going? Are you finding success in today’s real estate market or are you constantly being outbid by higher offers? What are you doing when writing an offer to purchase a home that is making your offer stand out? Please comment below.

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

How do you write an offer to buy a house? What things do you need to know before making an offer to buy a home? In this step by step tutorial, I’m going to go through the 5 most important things you need to consider when making an offer to purchase a home outside of the purchase price. We discuss everything from the escrow deposit to contingency time frames.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

Home Buying Videos You May Find Helpful:
➡ Buying Real Estate in a CRAZY Market – https://youtu.be/WLH0UlGmD9U
➡Step by Step Process of Buying a House in 2020 – https://youtu.be/myJ1h0ykhts
➡Do I get my deposit back if I cancel escrow? – https://youtu.be/0RMy9iNTu54
➡What Stays when buying or selling a house? – https://youtu.be/XH6c9-omN24
➡Appraisal vs Home Inspection – https://youtu.be/cwjokWbr1Go

FHA Videos You May Find Helpful:

➡FHA Loan 2020 – FHA Loan Requirements – First Time Home Buyer – https://youtu.be/wp-2c_EdcrU
➡FHA Pros and Cons – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/fOWjRGQmKDM
➡Buying a home using FHA – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/8KCzd8GPH_w

Are you in the process of buying a home? If so, how’s it going? Are you finding success in today’s real estate market or are you constantly being outbid by higher offers? What are you doing when writing an offer to purchase a home that is making your offer stand out? Please comment below.

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

What is it like to buy a home in our current real estate market? Should you buy now or wait? What does the housing market look like for the rest of 2020 or do we have a similar housing market 2021? In this real estate market update, I discuss why our current real estate market is so tough, which loan programs are getting accepted more often and what I’m expecting as we move into the 2021 housing market. Lastly, we tough on forbearance and why I don’t believe we will see a foreclosure wave coming anytime soon.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

Home Buying Videos You May Find Helpful:

➡Step by Step Process of Buying a House in 2020 – https://youtu.be/myJ1h0ykhts
➡Do I get my deposit back if I cancel escrow? – https://youtu.be/0RMy9iNTu54
➡What Stays when buying or selling a house? – https://youtu.be/XH6c9-omN24
➡Appraisal vs Home Inspection – https://youtu.be/cwjokWbr1Go

FHA Videos You May Find Helpful:

➡FHA Loan 2020 – FHA Loan Requirements – First Time Home Buyer – https://youtu.be/wp-2c_EdcrU
➡FHA Pros and Cons – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/fOWjRGQmKDM
➡Buying a home using FHA – First Time Home Buyer – FHA Loan 2020 – https://youtu.be/8KCzd8GPH_w

I hope you appreciate this market update from your Huntington Beach Real Estate Realtor, Jeb Smith and how you can best position yourself as a buyer in the real estate market 2020 whether you are in California or another real estate market.

Please let me know your thoughts below: what are your predictions for the housing market 2021 forecast and the housing market 2021 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2021 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

FHFA & FHA just extended their Mortgage Forbearance deadline until the end of 2020 allowing homeowners with federally backed mortgages to request forbearance until December 31,2020. In this video, we discuss who still qualifies for mortgage forbearance and we go over the repayment options that were set up to repay those missed mortgage payments as a result of forbearance mortgage.

WeBull Promotion: Get 2 FREE Stocks:
https://act.webull.com/kol-us/share.html?hl=en&inviteCode=xKeIF8f8iAKM

Articles Referenced in this video:

➜➜In a bid for stability, FHFA and FHA extend forbearance policies – https://www.housingwire.com/articles/in-a-bid-for-stability-fhfa-and-fha-extend-forbearance-policies/

What is mortgage forbearance? Forbearance is when your mortgage servicer or lender allows you to pause (suspend), or reduce your mortgage payments for a limited period of time while you regain your financial footing.

The CARES Act provides a mortgage payment forbearance option for all borrowers who, either directly or indirectly, suffer a financial hardship due to the novel coronavirus (COVID-19) national emergency.

No documentation is required to prove your hardship beyond your assertion that you are suffering from such a hardship. However, if you can still make your mortgage payments, you should continue to do so.

A forbearance is a temporary postponement or reduction of mortgage payments. It is not payment forgiveness. Under the CARES Act, borrowers are entitled to an initial forbearance period of up to 180 days, upon a borrower’s request. Also, upon a borrower’s request, the forbearance must be extended for up to an additional 180 days. A borrower can, at any time the borrower chooses, shorten the forbearance and resume repayment of the loan.

What is a Payment Deferral? This mortgage relief option moves past-due amounts from missed payments to the end of your loan term so you can keep the same monthly payment while bringing your loan to a current status.

What is a Repayment Plan? With this option, you spread out your past due amount—added on to your current mortgage payments—over several months in order to bring your mortgage current.

What is a Loan Modification? Under this option, you reach an agreement between you and your mortgage company to change the original terms of your mortgage—such as payment amount, length of loan, interest rate, etc. In most cases, when your mortgage is modified, you can reduce your monthly payment to a more affordable amount.

I hope you appreciate this update on the real estate market 2020 for the housing market 2020 california as well as this mortgage forbearance real estate market update from your local Huntington Beach Real Estate Realtor, Jeb Smith.

What are your predictions for the housing market 2021 forecast and the housing market 2020 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2020 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?

Connect with me 👇

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6