How Can I Increase My Family’s Net Worth?

Every three years, the Federal Reserve conducts their Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016.

The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth.
As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why Gallup reported that Americans picked real estate as the best long-term investment for the fifth year in a row. According to this year’s results, 34% of Americans chose real estate. Stocks followed at 26%, and then gold, savings accounts/CDs, or bonds.

Bottom Line
If you want to find out how you can use your monthly housing cost to increase your family’s wealth, let’s get together to guide you through the process.

Posted on February 25, 2019 at 6:01 pm
Steven Galindo | Category: A Thought About Real Estate, Home Buyer Advice

Four questions pet lovers need to ask before buying a home.

1) What are the local pet laws? Check state laws for breed restrictions and limits in the number of animals allowed in the home. Check the homeowners association if there are any pet weight limits.
2) Does the house have pet friendly floors? Carpets are bound to be destroyed by claws and dirt. Distressed hardwood floors would be the best bet.
3) Can your pet handle the stairs? Old or pets may have trouble getting up and down stairs.
4) Is the neighborhood safe for pets to roam. Check if the home is close to parks and trails. Check if there are coyote sightings. (Source:

Posted on December 3, 2018 at 3:10 am
Steven Galindo | Category: Home Buyer Advice, Real Estate News

3 Things To Prepare For BEFORE You Buy A Home:

1. Know your Realtor, This is one of the most important criteria when purchasing a home. All realtors are not created equal. Find a listing agent that will meet your family’s needs and will work for you. This person should be your advocate and supporter along your journey. Buying a home can be stressful and complicated, but it doesn’t have to be if you hire an experienced agent with a long list of happy clients. Your agent will always put your needs first and negotiate in your best interest for price, house repairs, inspections, disclosures, contracts and much more

2. Select a trusted lender: Make sure that you do your homework if you are securing a loan for your home. Don’t think that you need to go through a national lender to get the best deal. You’ll find that the best deal may actually be with working with a local lending agent who would save you a lot of time and money while also making the process much easier. They’ll deal with the larger banks and have the contacts, negotiating power and process in place to potentially get you a lower rate and ideal program.

3. Hire a trustworthy moving company: Moving expenses will quickly take up a big chunk of your budget. One of the ways to maximize your budget is to hire a local trustworthy moving company instead of one of the pricey national chains. They can save you hundreds of dollars, and the movers can have your items moved within several hours. (source:

Posted on September 20, 2018 at 9:25 pm
Steven Galindo | Category: A Thought About Real Estate, Home Buyer Advice

Buying a home? Don’t do it alone!!

Buying a first home is scary, overwhelming and exciting. The largest hurdle is where and how to start. Most buyers do not know that realtor’s services are free to the buyer. So they are fearful to hire an agent. A realtor has fiduciary responsibilities to protect buyers. They assist buyers with everything from financing and finding that dream home to negotiating the best price, and a smooth close. Time to buy a home? Call today 323-717-2262
(source: forbes)

Posted on July 24, 2018 at 7:38 pm
Steven Galindo | Category: Home Buyer Advice, Real Estate News

Home Buyer Advice: How to increase your advantage in a competitive housing market

The best advice I can give is to get pre-qualified, which is an easy step to get you one foot closer to your dream home. During pre-qualification, the bank will review your credit and income, then draft a cost analysis specific to your price range.

A pre-qualification letter will then be provided, which gives your realtor leverage in contract negotiations. It also gives you, the buyer, more credibility, which is essential in today’s multiple-offer environment, as countless buyers lose out simply because they aren’t pre-qualified or are offering too low of a bid.

Because of the combination of high residential values, historically low rates and a diminishing housing inventory, it is seriously recommended you contact your lender for a financial checkup.

Scenarios in which houses on the market receive multiple offers and subsequently sell above asking price have become the standard.

Contact your bank and give yourself the competitive advantage needed in today’s fast-paced real estate market.  (Memphis Business Journal)


Posted on October 3, 2017 at 6:22 pm
Steven Galindo | Category: Home Buyer Advice

Home Buyer Advice: 7 Questions You Must Ask At An Open House

1. ‘Can you tell me more about the house?’

2. ‘What shape is this place in? Have there been any recent improvements?’

3. ‘Has there been a lot of interest in the property?’

4. ‘Why are they selling and when are they looking to close?’

5. ‘How much do utilities usually run?’

6. ‘How much traffic can one expect in this area?’

7. ‘What is the neighborhood like?’




Posted on September 25, 2017 at 1:21 am
Steven Galindo | Category: Home Buyer Advice, Uncategorized

Home Buyer Advice: Stay Away From These Types Of Real Estate Agents

Home Buyer Scam Alert!!! Be careful of agent’s offering “VIP Home Buyer Service” or a similar service. What these agents are trying to do is charge you extra fees with names like “client service fee”, “doc prep fee” or “processing fee”. These agents will try to charge you thousands of dollars for these fees and they are absolutely unnecessary. Never pay your buyer’s agent (and the brokerage they represent) a penny!!! A great agent will give you VIP Service, look out for your best interest, negotiate on your behalf with expert skill, guide you through the transaction and never ask you for money. Home sale procedures are different outside of Los Angeles County, however if you’re buying a home in So Cal and your agent wants to charge you a fee, fire them

Posted on September 19, 2017 at 9:36 pm
Steven Galindo | Category: Home Buyer Advice

Home Buyer Advice: View Homes As Quickly As Possible

View Homes As Quickly As Possible. When there is a high demand for homes, do not be the buyer who waits until the weekend to view those properties. The faster you can see the home, the better chance you have of getting it contracted.
If you wait, others may are also interested in it and the property may already be off the market by the time you get around to seeing it

Posted on September 19, 2017 at 8:10 pm
Steven Galindo | Category: Home Buyer Advice

Home Buyer Advice: Think Twice About Working With The Listing Agent

The biggest issue with dual agency is that having the same person represent both sides can be seen as an ethical dilemma.
If a listing agent has already established a relationship with the seller, they may want to settle with a higher price.
The agent’s role can get a little confusing for the buyer and the seller. You need to know your agent is representing your best interests.
A dual agent cannot have an undivided loyalty and cannot provide a full range of fiduciary duties to both parties.
Think about it. The seller wants the highest possible price for the property. The buyer wants the lowest possible price. There’s an inherent conflict of interest in a dual agency transaction.
As the buyer, you might think you can cut your costs and speed the deal by working with a dual agent. But if you get a good agent of your own, that person should be able to negotiate a better deal that outweighs a reduction in commission.

Posted on September 19, 2017 at 7:25 pm
Steven Galindo | Category: Home Buyer Advice, Uncategorized