Loan Prequalification vs. Loan Pre Approval in Orange County

You are finally ready to make the move into homeownership. From all of the online searching you have done, you know that you need to get a “pre-something” to prove you are a serious home buyer. But which is it: preapproved or prequalified? These both sound good, but they have different purposes. Getting preapproved The preapproval process is like a test drive before you submit your formal application for a mortgage. The loan officer and an underwriter will verify the figures, facts and your credit history. This process could help pinpoint things you may want to improve or errors that you will want to correct before entering the formal application review process. A loan officer will also start looking for mortgage programs that might apply to your financial situation. The preapproval process is more precise because it is fully underwritten and helps ensure your home buying process will go smoothly. In addition to ordering your credit report, a loan officer may ask for copies

Meet The Reed Team’s Newest Sales Partner: Silvia Berlin

The Reed Team is proud to announce our newest sales partner, Silvia Berlin!
The Reed Team is proud to announce our newest sales partner, Silvia Berlin! With her vast experience and passion for client satisfaction, Silvia will be a tremendous asset to our team. Recognized as Coldwell Banker’s sales agent of the year, Silvia is a consistent million-dollar producer who has proven her ability to deliver high quality concierge service to each and every client. Silvia’s goal is to make the buying and selling process as effortless as possible for her clients by using her expertise to negotiate and collaborate with the other party, creating win-win situations for all. In 2005, Silvia received her BA in Broadcast Journalism from the University of Southern California. She currently enjoys living in San Clemente with her husband, Bryan, and their two young daughters, Emma and Avery. Silvia is an enthusiastic USC football fan, who enjoys entertaining her family and friends, gardening, and practicing yoga. We’re excited to see all the amazing things Silvia will

Surf’s Up, San Clemente!

San Clemente- lone surfer riding the wave to the shoreline
You can feel the warm sand between your toes. The cool ocean breeze caresses your face. As you look out to the horizon, you can see a heavy wave cresting, then barrelling. Unexpectedly, you catch sight of a lone surfer riding the wave to the shoreline, expertly harnessing the power of the ocean. Perfect 10. There is a reason why named San Clemente one of the top 10 best surf towns; the beaches in San Clemente offer some of the most consistent waves in the country year-round. The waves attract some of the best surfing talent, and have for a long time. San Clemente has also been home to major surfing publications, surfboard manufacturers, and according to surfing legend Henry Ford, it was the epicenter of the California surf culture. Here are a few ways to take advantage of the one-of-a-kind surf culture here in San Clemente: Visit the Surfing Heritage and Cultural Center, a museum founded by surfing legend Dick Metz ‘for the love of surfing’. You can glide thro

What Makes a Property’s Value Rise and Fall in Orange County?

In today’s south Orange County housing market, buyers and sellers alike try to understand the concept of home value appreciation. The value of your home may appreciate over time, unlike the purchase of a car which depreciates when you drive it off the lot. Appreciation is based on a few factors. Location is as important as the home It’s all about the location, location, location! You have heard this before. Where you buy your home may be the most important and controllable factor to appreciation. If value increase is important to you, make sure to give thought to where you buy. Ask yourself these questions when buying as it relates to location. Is the house close to major highways? Are there good schools nearby? Is the home conveniently located to entertainment and shopping? Does it have a nice view? Investing in a desirable location may contribute to equity in your home down the line and can mean more money in your pocket if you decide to sell. Acres and land acc

Mortgage Facts You Should Know

The seven mortgage facts below will give you an advantage when shopping for a home in Dana Point or refinancing an existing loan. 1.  Mortgage rates are always changing Similar to the stock market, mortgage rates are changing throughout the day. Mortgage rates you see today might not be available tomorrow. If you are in need of a mortgage loan, make sure to check the current rates being offered by lenders. If you have already done your research and have found your dream house, you should consider locking in your rate as soon as possible. 2.  Different mortgage lenders charge different fees Don't expect all lenders to charge the same fees for a mortgage loan. Each lender structures their fees differently. The next time you apply for a mortgage loan pay close attention to the rates, closing costs and points being charged. 3.  Lenders could sell your loan to another bank Most home buyers in south Orange County have experienced getting a mortgage loan with a certain le

3 Home Improvements That Get You the Biggest Bang for Your Buck

Home Improvement Projects that Generate the Highest Return
You’ll never guess which home remodeling projects generate the best return on investment for a homeowner (based on the 2017 National Association of Realtors® Remodeling Impact Report)! No, it was not a kitchen or bathroom remodel. While improvements to those rooms certainly result in boosting your sale price, you might not get back all the money you put in. Here are the investments in your home that will bring you back the highest return:  1. Surprise! New Roofing Womp, womp. I know. It’s really not sexy. But wait, you have to think about it from a prospective buyer’s perspective. What good is a new bathroom when water is splashing into it, and it’s not coming from a faucet? Most homeowners expect to do some remodeling to their own tastes when they are purchasing a new home. They want to do the fun stuff, but they want to know that the home is structurally sound to begin with. Knowing that they would have to replace the roof is one of the biggest turn-offs for a pro

South Orange County Curb Appeal

Have you given up on the hopes of having the landscape of your dreams? Well, how about creating it yourself? Since winter is planting season, now is a great time to think about your yard. If you are armed with a good plan, you can have a stunning landscape for your South Orange County home. Do We Ditch the Lawn? Before we go on, we should probably address the white elephant in the room. Does it still make sense to have a lawn? With water restrictions still in place for Orange County, a traditional lawn might not receive the kind of care and feeding that it should. However, there can be no one size fits all approach. You are the expert on your particular piece of land, and can factor in the specific conditions that affect your property. If you have a small or very uneven yard, mowing alone can be a challenge. You can use native, drought resistant plants, and still have a gorgeous yard. On the other hand, if you have a good sized yard that is relatively flat (at least in some place

Benefits of a Veteran Home Loan

VA home loans are one of the most powerful loan options on the market for veterans and active military. It’s becoming difficult for many military borrowers to build the credit and assets necessary to move forward with conventional home financing. The advantages of the VA loan program over other loan types are a big reason why VA loan volume has continually increased over the last five years. VA financing comes with significant financial benefits for those who have served our country. The requirements to secure them are often looser than what would be needed for a conventional or even FHA loan. For a lot of active military and veterans, the VA home loan program is their only real path to homeownership. The increasing popularity has stemmed from the main advantages of VA loans. Let’s take a deeper look at the great benefits of VA mortgages: No Down Payment The VA loan program offers service members and veterans incredible benefits, from zero dollars down to no PMI and

A Fun Family Saturday in San Clemente

Family Fun Day in San Clemente
A splash of sun warms your face. You stretch, pull off the covers, and step outside on the patio of your San Clemente home to feel the weather. A cool breeze calls to you. You are new to the area, and decide that there is no better day to get outside and explore what San Clemente has to offer. Armed with swimsuits, sunblock, sneakers and sunhats, the whole family heads out in the direction of the beach. First stop, Ellie’s Table North Beach for a pleasant and relaxed atmosphere, coffee, breakfast sandwiches (made with fresh breads), and your choice of homemade pastries.  Your family gets a table outside to soak in the sights and sounds of the beach. After a satisfying and sweet breakfast, you decide to walk off your tasty meal on a hiking trail.   With so many trails to choose from within San Clemente and the surrounding area, you decide to keep it low key, and head south along the San Clemente beach trail to take in the breathtaking ocean views. For the older k

Orange County Mortgages: Do’s and Don’ts

If you are looking forward to venturing into mortgage investments in Orange County, it is important for you to have a clear understanding about what you should do and should not do. This will assist you in avoiding frustration when you are dealing with your investments. First time home buyers should learn more about the loan process to be adequately prepared for buying their first home. Here is a list of DO’s and DON’Ts to keep in mind when you are dealing with mortgage investments in OC. DO Take a look at your credit report Initially, you should take a look at your credit report. If you have a high credit score, you have the opportunity to go for a better mortgage. If you can pay it in a timely manner, you will be able to improve your credit score in the future as well. If you want to get a better understanding of your credit score, you should take a look at your FICO score. It is offered to you for free by financial institutions at the end of the month. You are also prov