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Questions To Help Your Find Your Dream Neighborhood!

by The Domis Team

Choosing the right neighborhood is just as important as the house itself when buying your dream home. You want to find the perfect neighborhood that will fit your current needs as well as those into the future. There are so many desirable neighborhoods to choose from in the Whittier Area that it can be hard to know where to begin your search. Ask yourself the following questions to help you choose the perfect neighborhood for you and your family!

 

  1. Property Value Questions

  • What are the neighborhood's comps?
  • What is the area's projected growth into the future?
  1. Property Taxes Questions

  • How much are property taxes in the area?
  1. Safety and Crime Questions

  • What is the neighborhood's crime rate? Also, what are the crime rates for the neighborhoods directly adjacent?
  • What level of crime do I feel comfortable dealing with for myself and my family?
  1. School Zones

  • How are the schools in the neighborhood rated?
  • What community centers and parks are in the area?
  1. Topography and Geography

  • Are there geographical features that will add value to the home?
  • Are there special insurance needs in the area for potential natural disasters that I need to be aware of?



Use these questions as guidelines to help narrow in on your perfect neighborhood. If you have questions about particular neighborhoods in our area or are ready to Buy, give The Domis Team a call today or visit our website at http://www.whittierhomes.com/.

 

2019 Housing Market Predictions!

by The Domis Team

The New Year offers new possibilities for the real estate market. Although it is impossible to know exactly what will happen with housing in 2019, there are some trends that have been forecasted. The data team at Realtor.com® has come up with their predictions for next year. If you are looking to buy or sell a home in the Whittier area in 2019, keep these trends in mind as you enter the market!

 

1. Slight Increases in Inventory

Inventory has finally been on the rise during the last quarter of this year. For next year, it is expected to stay at less than 7% nationwide. There should be some increases in homes being put on the market and/or new construction. Expect to see larger increases in inventory of upscale homes in the high-end market.

 

2. Soft Home Sales

Home sales are expected to decline 7%. This is largely due to the market challenges that make it difficult for first time home buyers to afford it.

 

3. Millennials Will Account For The Majority of Buyers

Millennials will retain their majority as home buyers in 2019, making up 45% of the mortgages. While first time buyers in this generation might still struggle to make the plunge for buying, older millennials who already own will likely move-up to a higher priced home this year.

 

4. Unknown Effect of Tax Plan

It is still unknown how the new Tax Plan will affect homeownership in 2019. Renters should see higher deductions on the tax bills which may incentivize waiting to buy while it will be a mixed bag for home owners on what they can and cannot deduct from their taxes in April. Although it is unknown exactly how the bill will affect the market during 2019, it is an important consideration for all buyers and sellers to keep in mind throughout the year.

 

As 2019 progresses, The Domis Team will be there to help you navigate the market and keep you up to date on the year's real estate trends. Give us a call at (562) 884-5373 or visit our website at http://www.whittierhomes.com/.

Buy or Rent? The answer is....Buy!

by The Domis Team

Maybe it's a question you have been asking yourself for a while.....should I buy my first home or keep on renting? While we understand the hesitation, we have an answer for you once and for all.....you should Buy!

 

When it all comes down to it, the major reasons to buy as opposed to rent are all financial. This may seem counterintuitive since buying a home is a major financial decision. While at the outset, buying a home might seem like an insurmountable cost but over the long term, it actually saves you money and makes sound financial sense.

 

To start, think of renting as paying off someone else's mortgage. Why help someone else make money when you could invest that same amount in yourself?! And on top of that, buying has been shown to be Cheaper than renting. Nationwide, renters spend 28.9% of their income on median rent while home owners spend 15.7% of their income on median housing costs (Zillow Research)! Buying allows you to have Stable Housing Costs since you know exactly what your mortgage payments are every month, unlike renting where it changes every time you move. Owning a home opens you up to Tax Savings that renters are not eligible for. It also can be seen as a form of Forced Savings that allows you to keep more money in your pocket. The net worth of home owners is 44x greater than renters (Federal Reserve). Finally, owning a home is an incredible Investment and one that you utilize every single day. With home values expected to appreciate 3.35% per year and 24.34% cumulatively over the next five years (Federal Reserve), you will be building equity from the moment you close on your new home.

 

Today is the day! Stop renting and start BUYING! Let the Domis Team guide you through the process and get you into your first home today! Check out the Homes for Sale throughout the Greater Los Angeles Area to get started! Give our experienced team a call today at 562-884-5373 or visit our website at http://www.whittierhomes.com/.

2018 Housing Market Trends

by The Domis Team

The New Year offers new possibilities for the real estate market. Although it is impossible to know exactly what will happen with housing in 2018, there are some trends that have been forecasted. The data team at Realtor.com® has come up with their predictions for next year. If you are looking to buy or sell a home in the Whittier area in 2018, keep these trends in mind as you enter the market!

 

1. Increased Inventory

The last 3 years have experienced low inventory in the housing market. This has been good news for sellers but has increased competition for buyers looking for their dream home. Although 2018 will likely start out slow, inventory is expected to increase by the fall, particularly through new construction and development.

 

2. Millennials Entering the Market

Compared to previous generations, millennials have been slower to enter the housing market. This is expected to change throughout 2018. As this generation gets older, their incomes are and desire to settle down are increasing. Data shows that millennials are having more success taking out mortgages. Realtor.com® is expecting millennials to make up 43% of home buyers by the end of 2018.

 

3. Tax Reform

The Tax Reform Bill has been passed. Learn more about the affects the Tax Reform Bill will have on real estate HERE, courtesy of the National Association of REALTORS®. California is one of the state's expected to see more of an impact as a result of the bill. Although it is unknown exactly how the bill will affect the market during 2018, it is an important consideration for all buyers and sellers to keep in mind throughout the year.

 

As 2018 progresses, The Domis Team will be there to help you navigate the market and keep you up to date on the year's real estate trends. Give us a call at (562) 884-5373 or visit our website at http://www.whittierhomes.com/.

Avoid These Common Homeowner Mistakes on Your Whittier, CA Tax Return!

by The Domis Team

Tax season is underway! Many early birds have already filed their income tax returns, however many people are just now starting to think about sitting down and getting through the grueling process. As Whittier, CA real estate agents, one of the biggest benefits to buying a home are the homeowner tax breaks that you can get every year. These incentives are just one of the many reasons that you should consider buying a Whittier, CA home while prices and interest rates are at all-time lows. The issue, however, lies in the complicated and complex homeowner tax forms. If you don’t dot every “I” and cross every “T”, there’s a strong chance that you can make a mistake that can be costly.

We use our many years of experience and extensive knowledge about Whittier real estate and homeownership to help guide our clients through filing their tax returns. It’s important to us that our clients see all the benefits that homeownership can bring, and that’s why we thought that we’d take a few minutes to outline some of the biggest mistakes that homeowners make when filing their tax returns. If you avoid these common errors, you will see the biggest return and see all of the benefits that come with owning a home.

•    Don’t deduct the wrong year on your property tax form. In order to avoid this common issue, enter on your federal forms whatever amount that you actually paid for that tax year, (in this case, 2011). Since some lenders work a year behind, this will ensure the most accurate deductible on your end without causing confusion by claiming payments from the current year.
•    Your escrow is not the same amount as actual taxes paid. If a lender escrows your mortgage payments each month, do NOT simply deduct the amount escrowed. The number that you should be deducting is the amount that you put in to your escrow account each year to cover property taxes. This might be slightly over or under what is escrowed, but that is the amount to put down. Your lender will align the account amount with the escrowed amount every few months, so you should focus on what you actually paid, not what was escrowed.
•    Keep track of all home related expenses. Pick a file or folder to put all of your records pertaining to home maintenance and renovations for the year. That way, if any deduction that you’re claiming is questioned, you have a record of activity proving its validity. It’s important to keep all of these items organized and itemized so that you can access it easily.
•    Don’t forget to deduct PMI! PMI, or Private Mortgage Insurance, is typically purchased when home buyers put down a down payment of less than 20%. Don’t forget to deduct these payments when filing your income taxes, as they could play a significant role in the amount of your refund.

As your Whittier, CA real estate resource, we consider the tax benefits that come with being a homeowner an important factor when deciding whether or not to buy a home. That’s why we thought that we’d provide some useful information about how to avoid common homeowner tax mistakes. If you avoid these common errors, you will see the full tax benefits that come with owning a home, and you’ll be happy to see a bigger refund check.

If you have any questions about how to start your Whittier, CA home search, don’t hesitate to contact us! We’d be happy to sit down with you and discuss your options. We hope to hear from you soon!

The Domis Team
Prudential California Realty
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Displaying blog entries 1-5 of 5

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Photo of Linda & Ryan Domis - The Domis Team Real Estate
Linda & Ryan Domis - The Domis Team
Keller Williams Realty
16310 E. Whittier Blvd. Suite F
Whittier CA 90603
Cell: 562-884-5373
Cell:562-458-6947
Fax: 562.902.5158
The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale

Contact the Domis Team

Linda Domis - DRE #00571375 | Ryan Domis - DRE #01969771
Whittier Homes for Sale | La Habra Homes for Sale
Lake Park Brea Senior Community | Lake Park La Habra Senior Community

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