I Want to Wish You a Happy Thanksgiving!

I Want to Wish You a Happy Thanksgiving!

The season of giving is upon us and I wanted to give thanks to you and everyone else that has touched our lives this year. I hope you also take this time to offer thanks to the people who have helped you through this past year. I wish you a safe and Happy Thanksgiving and you can watch my latest video to hear my holiday message!

If you or anyone you know is looking to buy or sell, keep Team Diaz in mind because remember MONICA MAKES IT HAPPEN!

Will a Foreclosure or Short Sale Stop You From Purchasing a Home?

Will a Foreclosure or Short Sale Stop You From Purchasing a Home?

We are fully aware of the trend from years past of foreclosures and short sales, but what does it mean for you and your credit? Today, I wanted to talk to you about how you can improve your credit score if those blemishes are present and also what your options may be. To help with this, I have Adrian Enriquez and Lauren Lazalde of American Financial Network here to educate you on how to move forward in the event of foreclosure, short sale and even medical collections you haven’t been made aware of.

“Our goal when getting you prequalified is to point you in the right direction and tell you the exact steps you need to take in order to close escrow and to be put in the position to purchase a home,” Lauren stated. When we look at your credit, our main objective is to improve it so you are able to obtain a better interest rate and be in the best position possible to purchase your next home.

“We to make sure we address all issues before you open escrow so we do not drag you through a ten day process and you find out that you have these collections on your credit report that are randomly popping up,” Adrian added. “With FHA and conventional, there are a couple different ways you can go about it and they are each going to have their own seasoning,” Lauren continued. She also explained that if you were current on your payments with your short sale, you can immediately move towards an FHA purchase.

It is also phenomenal that with a 20% down payment on a conventional loan and a foreclosure from the past year, you are still able to move forward. In regards to an FHA purchase, the underwriters will compare purchasing scenarios in order to prevent people from taking advantage of the market. Do keep in mind that FHA requires three years from your most recent short sale or foreclosure and Adrian outlined that you have to be current with your trade lines, reestablish your credit and have a minimum FICO score of 620 to move forward. We will be there for you beforehand to address any of these issues.

For example, if a first-time buyer was to enter the market with a credit score of 630, there is a limit of investors we can sell the loan to as their credit score needs to be above 640. If the buyer is in the 620-639 range, there is a FICO hit because it is considered “risk-based pricing.” Adrian explained that as direct lenders, they will work to raise your credit score and ultimately achieve the customer a lower interest rate. This may be in the form of paying down debt and addressing any derogatory comments on your credit report by identifying whether they are valid or not.

“Even more specifically, we are going to look at your trade lines where you have a high credit limit and the balance is very close to that high credit limit, those are the triggers that those are the accounts when paid down, they will yield the most points to your credit score,” Lauren added. The lenders are able to run scenarios and obtain the specific number of FICO points that will raise your credit score to be done in preparation to ensure you are able to make offers right away. This process can be completed within 3 business days, the points will show on your credit score.

If you have questions pertaining to your FICO score, I strongly suggest contacting Adrian Enriquez or Lauren Lazalde. Discover how you can proceed in purchasing your next home and live in a way you never deemed possible. And Remember, when looking to buy or sell a home, Monica makes it happen!

Why a Trust?

Why a Trust?

Hey, everyone! Welcome back to my video blog! Today, I wanted to talk about trusts and why they are preferred over wills.

So, what is a trust? A trust divides ownership of a property into two parts.
1.    Trustee. The trustee holds ownership and control of the property.
2.    Beneficiary. The beneficiary holds the soul right of the enjoyment of the property.

Did you know that often trusts are preferred over wills when ensuring the orderly transfer of property in case of a death? Trusts can be executed immediately and can handle a variety of different circumstances. If you are injured or become incapacitated, a trustee can take over your finances.

Another great thing about trusts is the assets such as personal property are not subject to probate proceedings. This is a HUGE relief in avoiding expensive fees from both attorneys and probate court.

Trusts can also be changed much easier than a will. One simple notarized page from both the trustee and beneficiary is all it takes!

The BEST part about a trust, though, is getting favorable tax treatment! If you have a personal net worth of $100,000 or more, a trust will maximize your estate tax exemptions. It will also ensure at the time of your death, your heirs can inherit the estate and avoid any penalties and fees from our good friends, the IRS.

Take it from me. You don’t want your loved one to lose their home at the time of death to the state due to lack of estate preparation.

As, always if you ever know of a friend, a coworker, relative or even a Facebook friend that is interested in buying or selling a property, connect with us today!

And remember, MONICA MAKES IT HAPPEN!

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Viva Escrow Part 1

Today, we have an absolute treat for you! As you know we’ve been partnering up with many people in this whole real estate process and in doing so we’ve actually chosen an amazing escrow company to work with. We strongly recommend working with Juliana Tu.

She has years of experience. People on her team can speak many languages. Trust me, once you hear her speak, you’ll know why we’ve chosen her. We want only the best for our clients.

Juliana has so much knowledge to share that she actually wrote a book called ‘The Art of Escrow’ We hope you enjoy this informative interview!

Interview with Juliana Tu

So what is the purpose of having an escrow?

The escrow holder is an impartial third party who handles the transfers of the property and funds between a buyer and a seller. The reason for having this is because there’s usually a lack of trust between the buyer and seller. Because of this, there might be a necessity for having a binding contract, especially when there is a For Sale by Owner.

An escrow also handles the payoff; so we are a clearinghouse for all leans and debts against the seller before the property is transferred to the buyer.

What are the basic characteristics of having this third party?

1. Confidentiality: we need to be confidential with personal information from both parties.
2. Impartial: We do not take sides.
3. No legal or financial advice: When there is a question that concerns something that is of legal or financial nature, we ask the parties to contact their legal and financial advisors.
When the purchase contract is accepted by both parties, the contract is given to the escrow holder and that becomes the map for which the escrow holder is going to follow in order to complete the transaction.

There are a few things we look for in the purchase contract:
1. Is there a new loan?
2. Are there certain things that need to be confirmed before closing such as termite inspection or repair work?

One of the other things an escrow holder does is open up a preliminary title search. We need to make sure the seller is that actual owner of the property and we need to find out what kind of leans and debts are against him. All of these things need to be paid off before escrow is closed.

Selling a Home in a Seller’s Market – 4 Easy Steps That Will Get You More Money

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Google “selling a home” and you’ll end up with millions of hits with tips, tricks, to-dos and what not to-dos. But if you can see past all the fluff and get right down to the bottom line, you confirm that all you really want as a seller is top dollar and you want it fast.

Team Diaz knows the business of selling homes and we’ve been through it in all types of markets. Buyer-centric markets tend to make it necessary for sellers to pull out all stops while a sellers’ market like we are experiencing these days dictates something else altogether.

Here is our four-point strategy that we think you need to be doing to prepare your house for sale. Nothing else. It doesn’t need to be complicated. It doesn’t have to cost an arm and a leg. Being in the amazing market that we are in right now – you don’t have to do that much!

Bring It Up to Code
Read up online (or ask us) to find out the standard items that home inspectors look for – then go get it done in your house. Make sure the home complies with safety and building code and if not, hire a contractor to get it done. Some things are easily resolved yourself such as replacing smoke and carbon monoxide detectors or ensuring your water heater is properly strapped in place.

Let There Be Light (and Air)
One of the first things buyers look for is the flow of a house. Not only does this apply to the floor plan but also in terms of how much light and air flows through the space. The last thing you want to do is to have a buyer walk away because they were unable to see the potential in a home if it wasn’t set up right. Make sure you open windows, highlight open spaces and stage the house so buyers can see all that it has to offer.

Break Out the Broom
Have you ever walked into a dirty or cluttered space and felt good? Of course not! So when you’re selling your home keep buyers’ impressions in mind as walk through the house. Are there piles of stuff lying around everywhere? Make your home inviting and welcoming with the simple step of cleaning it up, making it fresh and allowing buyers to visualize their own lives in the space.

Don’t Go Into Overdrive
One of the biggest mistakes sellers make is to renovate, rebuild and remodel before selling their home. The problem with that is that buyers may or may not like your choices. Rather than the money being recovered in your sale price as you would have wanted, renovating often backfires and turns buyers off. No need for overkill – just sprucing up the place with some simple decorating and staging changes will do the trick. And if there is a serious need for updating – reflect it in the price so buyers can make their own design choices.


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Aside from the obvious steps to take when preparing your home for sale – the most important thing you can do is to align yourself with a really strong real estate team that will get the job done! Contact us today for a free home value report and for a walk-through with some more suggestions for your home. Remember – Monica makes it happen!

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A 26,400 Foot Lot with a 2Bdrm-1Bath turn of the Century Craftsman Home located in the prestigious Michilinda Park Area.

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