Tuesday, September 25, 2018

HOLA Spotlight and Honoree- Eva Angelina Romero

WHO: Eva Angelina Romero, Real Estate Agent/Philanthropist

Eva Angelina was born and raised in Los Angeles, California. She got her Brokers license and moved to beautiful Nashville in 2012. She is the current Broker/Owner of EvaCO properties and is a passionate entrepreneur.

Eva is currently the president of the NAHREP Nashville chapter (National Association of Hispanic Real Estate Professions). She launched the Nashville chapter in 2016, and it is now one of over 55 chapters throughout the US. NAHREP’s goal is to advance Hispanic Homeownership. Eva is also a board member of the American Red Cross, ONEGen Away, The Vintage Affair, and HOLA. She and her husband own Solace Oral Surgery, and both are involved in many charities close to their heart. Eva enjoys spending time with family, travel, yoga, and competing in fitness competitions.

Eva will be honored at HOLA’s launch party tomorrow. 
WHAT: Tell us about an achievement you’re proud of.

Rising up from very challenging circumstances as a child and poverty. From being married off as a teenager at 14 and being a teen mom, to now being a successful entrepreneur. I was the first one in my family to graduate high school and college.

WHEN: Describe a turning point that was important in bringing you where you are today.

I was in my 20s. I found my faith and learned one of the most important lessons in my life. Someone told that's not what happens to you that matters so much, it's how YOU respond to what happens to you that makes a difference in your life! Things happen to all of us! But how WE choose to react to them will make a difference in what kind of life we have. Wow, it was life changing for me!

WHERE can we find you online and learn more about your work?

WHY? HOW? Why is it important to connect more with our community? Give some advice to future Hispanic leaders and achievers.

I love people, always have. I am a big believer in giving back to others. Many helped me along the way and I now want to do that for others. I want to be a helping hand. I have been blessed and want to bless others. One thing I would say to future Hispanic leaders and achievers is to never, ever give up! You will fall and sometimes you will fail and that is OK. Challenges will come, that is part of your growth. It will not always be easy and there will be times you might get discouraged. People might even doubt you, but it's not up to them for you to achieve success, it's up to you!! So: Dream big, work hard, believe in faith and make it happen!

HOLAthe new Hispanic Organization of Leaders and Achievers—is celebrating Hispanic Heritage Month by bringing you profiles of faith, business, education, and community leaders across Tennessee and beyond. Visit us at Facebook.com/HispanicOrganizationofLeadersandAchievers andholatn.org.

Friday, March 23, 2018

2018 Real Estate Trends You Should Know

                                       2018 Real Estate Trends You Should Know

The real estate market lives in perpetual motion, shifting and adapting to the current market trends. Agents need to look ahead to stay relevant in this ever-changing market. As 2018 picks up steam, that market is beginning to take shape. Buyers are on the hunt, and sellers are looking to move on. To help agents stay ahead of the curve, we put together a list of some of 2018’s expected trends in real estate, including buyers taking control, millennials moving on, potential mortgage rate hikes, and more.

Co-Living/Communal Spaces

Expect to see an increase in demand for communal spaces that enable multifamily co-living. This could manifest itself into homes that accommodate multiple families sharing the same communal spaces, or a push by buyers or renters to move into apartment buildings that feature these kinds of spaces.

Airbnb, Anyone?

2018 will see a continued rise in the demand for short-term rental spaces. Owners of large properties stand to benefit, as will single-family units with spare rooms. You can also expect to see more people renting out their entire vacation homes to families looking to get away. Here are some short-term rental ordinance to review for Davidson County.

Tiny Houses

Expect more people to downsize as developers build more living spaces that take up less real estate in over-packed urban locations. Micro units, homes that are rooms as small as 200 square feet, are becoming popular, coupled with large communal spaces. This trend is just starting to take hold, and looks to continue into 2018 and beyond.

Return of the Investor

The negative views toward those investing in real estate to make a living have started to fade. At the same time, larger entities are entering this market. Expect to see more homeowners entertaining offers from investors while they look at offers from buyers.

Millennials Move Out

They won’t live in their parents’ homes forever. Expect to see a new wave of buyers from this oft-misunderstood generation. This year could see them taking advantage of the tiny home movement, investing in real estate, or joining forces with friends and family to expand on a co-living situation.

Buyers’ Market

We will see a dip in home-price appreciation in 2018, as projections predict home prices to increase only 4.1 percent after two straight years above 6 percent. One factor contributing to this is an influx of new single-family unit stock, potentially increasing by 8 percent by the end of 2018. This is a welcome relief to buyers in a market that’s been dominated by baby boomers staying in their homes, investors seeing huge returns on rental properties they bought in the bubble burst, and home builders veering toward luxury home builds.

Friday, March 2, 2018

Why the Tennessee Population Is Booming

                                         Why the Tennessee Population Is Booming

Tennessee is going through a major growth period right now, thanks to plenty of job opportunities and the low cost of living. This combination is making the state one of the best places in the country to live, and the state has the growth to prove it. Tennessee’s major metro areas, such as Nashville, are going through unprecedented development right now; currently about 86 people a day move to middle Tennessee.

Here are a couple of trends that are impacting population growth in Tennessee.

Home Sales Are Surging and Costs Could Rise

According to the Tennessee Housing Development Agency, in 2015 the state saw its fourth consecutive year of solid growth. That year, 87,681 homes in the state were sold. Compared to many parts of the nation, this was excellent growth. Most of the expansion and sales are happening in Tennessee’s major cities. Music City has quickly become one of the hottest metro areas in the nation. However, with high demand comes high prices, and homebuyers and renters worry about a lack of affordability if the growth continues at this rate.

Nashville Is Growing Rapidly

Watch out New York City, Nashville is quickly becoming one of the top cities for young professionals. In 2016, the city was named the third hottest housing market in the nation, sitting just behind Seattle, Washington, and Portland, Oregon.

It’s not surprising that Nashville is getting so much attention with its vibrant culture, music scene, and low cost of living. In fact, The Tennessean reported that Nashville ranks sixth in the nation among top cities for property investment in 2017. New businesses are popping up every day, because the cost of doing business in Nashville is 6 percent less than average. In 2014, renter household growth outpaced the construction of rental units, creating high demand for housing in the area.

Low Cost of Housing, Doing Business

The secret recipe of low-cost housing and low cost of doing business created a booming market that’s encouraging new college grads to stay, and pulling in others from more expensive areas. The low cost of living is evident in housing prices. The median housing cost in the Nashville area is $225,000, 7 percent lower than the national median of $243,000.

As the millennial generation gains footing, demographics and housing patterns across the nation are evolving and developing. So far, this has been great news for Tennessee, and we hope these trends for growth continue into 2018 and beyond! 

Friday, January 12, 2018

2018 Real Estate Market Predictions

                                                   2018 Real Estate Market Predictions

The real estate market overall is expected to grow in 2018, according to most experts in the field. This is great news for investors, but first-time homebuyers may be looking at a slightly more difficult year. Here are some predictions for the real estate market in the coming year.

Inventory Shortages Continue to Drive the Market

Inventory shortages continue to be the main factor in home prices again in 2018. Housing starts are still low, and Svenja Gudell, Zillow chief economist, says that nationwide there are 12% fewer homes to choose from now than a year ago. Most of these properties for sale are in the highest home value bracket and well out of the price range of most first-time home buyers. This means those looking to buy a home for the first time will continue to struggle to find affordable housing for most of the year.

Demand Remains Flat

One factor keeping home builders from committing to a lot of new home starts is the mostly flat demand. One of the biggest factors in home demand is population growth. In the United States, population growth has remained low over the last few years with a growth of only 0.7% last year – the lowest since 1937. So long as demand remains on the low side, builders will likely not surge to build a large number of new homes.

However, Metro Nashville is an area still experiencing high growth from new people moving into town. As a result, our local area will continue to have new home developments, though these may also slow some from past years.

Builders Focus on Entry-Level Homes

While for several years now home builders have focused on the higher value homes, the tide may finally turn this year. The demand in the market for homes is largely in the entry-level segment at this time, and builders may move to capitalize on the market. So far, the number of new homes built for the past several years has remained well below historical norms, but the entry-level demand may finally shift this trend in favor of first-time homebuyers. Unfortunately, the low-cost trend may mean a greater shift toward more affordable suburban areas. Land and construction costs are prohibitive in cities for entry-level homes. Expect to see a move toward the suburbs in the coming year.

Remodeling Fever Continues to Burn

One factor in keeping inventory for homes low has been the recent surge in remodeling current homes by homeowners rather than buying a new home. Expect to see this continue in 2018, especially with the popularity of home remodeling shows on television giving homeowners more ideas for remaking their own homes rather than selling them to look for others. Overall, this keeps home inventories down and continues the drive toward higher home values across the market.

The real estate market for 2018 continues to promise to be a great market for sellers, but those just starting to look for their first home will likely continue to struggle.

Thursday, January 4, 2018

Tips to Get the Most out of Your Mortgage

                                           Tips to Get the Most out of Your Mortgage

Buying a home is both exciting and overwhelming for most people. Between unfamiliar paperwork and the unfamiliarity of a process that most homebuyers will only go through a few times in their lives, it can’t hurt to get some tips on how to excel at getting the best mortgage that meets your unique needs.

Realistically Assess Your Budget

Before you start looking at homes, sit down and realistically assess what you can afford. You may expect your income to rise over the coming years, giving you the confidence to stretch to afford that nicer home, but life has a way of bringing about the unexpected. Start the process early to get an idea of what interest rate you will qualify for and a monthly payment you can afford. If your income does increase in the coming years, use it to redo that kitchen or bath to get the most out of the house while you live there and increase its resell value when you move up to the bigger home.

Optimize Your Credit Starting Now

Getting professional help to smooth out the dings and knocks on your credit score can mean the difference in getting an interest rate you are happy with and settling for one that is less satisfying. If your credit is right on the margin of making a lender smile, start right now to begin to address what you can to get a better loan when you buy. Don’t get sucked into the false thinking that if your credit isn’t perfect, you won’t qualify for a mortgage, however. Many programs can help you qualify, even if your credit isn’t all that great. But even with those programs, the more you do to improve your situation, the better your payments will be.

Analyze Your Down Payment Options

Many people still buy into the idea that you must have 20% down to qualify for a mortgage. Nothing could be further from the truth! Many mortgage programs can qualify you for a mortgage with 3.5%–5% down. However, the more cash you have available at the time of purchase, the better off you are likely to be. If you do have 20% down, you can likely skip the private mortgage insurance payments right from the start. And you can use cash to buy down your interest rate, a move that may save you money for years to come.

The more you understand about the mortgage process, the better able you will be to get a mortgage that will make your home feel cozy for years to come.

Thursday, October 5, 2017

Protecting Your Home from Disasters

                                                   Protecting Your Home from Disasters

A natural disaster such as a flood, hurricane, tornado, or fire can make a home more difficult to sell, especially in a buyer’s market. Homeowners can’t completely remove the risk disasters pose, but they can take certain steps to protect their homes. Whether you plan to sell your home in the future or not, use these tips to protect the value of your home:

1.     Follow basic fire safety recommendations. Smoke and flames can create lingering problems in homes. To reduce the risk of a minor or major fire, install smoke detectors throughout the house and test them once a month. Keep in-date fire extinguishers around common fire hazards including your kitchen, and laundry room.

Monitor lit candles closely, and never place them near flammable materials or where someone could easily knock them over. Teach your children to safely handle matches, candles, and other fire-related objects.

2.     Maintain adequate homeowner’s insurance coverage. If a disaster does strike, your policy will determine how much support you receive after the fact. You may want to consider a flood policy if you live in a flood-prone area, because most standard homeowner’s policies do not cover flood damage. Read the fine print and ask questions. The right level of insurance can protect your home’s value in the wake of a disaster.

3.     Recognize your home’s vulnerabilities. The FLASH (Federal Alliance for Safe Homes) website features an interactive map to help homeowners understand the major risks in their states. Use historic weather information and forecasts to arm your home against serious storms.

Invest in risk-minimizing upgrades such as storm shutters to reduce the likelihood of damage related to high winds and hail. If you need to replace siding, roofing, or garage doors, choose storm-resistant materials. Consider applying additional waterproofing substances and moisture barriers in low-lying areas such as basements to reduce flood damage.

4.     Remove external hazards. Tall trees often pose a threat to homes during heavy snowfalls and high winds. Work with certified arborists to prune or remove hazardous trees. If you live in an area prone to wildfires, regularly remove dead leaves, dry grasses, and other flammable materials from the area around your home.

Prepare for the most likely disasters before they strike, so you can focus on your and your family’s safety when the time comes. With these tips, your home may avoid some or all the damage associated with disasters.

If your home does suffer harm in a disaster, remember to document all the damage and your repair work. Documentation can go a long way to protect the value of your home. 

Friday, September 29, 2017

What You Need to Know About Getting a Mortgage

                                  What You Need to Know About Getting a Mortgage


Not many potential homeowners can pay cash for their new home. Most home buyers need to take out a mortgage, a loan for the specific purpose of buying a home. Usually about 80 percent of the home’s value is borrowed, and this is known as the beginning principal. Other fees associated with the mortgage include taxes, interest, and mortgage insurance. Mortgages involve large sums of money and can be tricky to navigate, especially for first-time home buyers. Making yourself familiar with the ins and outs of obtaining a mortgage can help you in the lending process.

Your Credit Score Matters

Credit scores show the responsibility and reliability of the consumer. A good credit score can help you get the best rates possible for your mortgage. If your credit score falls below 620, you could get penalized with higher interest rates or, in some cases, not get a loan at all. Check on your credit score prior to applying for a mortgage and do what you can to repair the score. Limit your credit card usage and pay off any excess debt if possible.

Find a Reputable Lender

Although most mortgage lenders are trustworthy and dependable, some may try to trick you. It is important to shop around before committing to a lender. First of all, compare rates of different lenders to determine the best deal. Ask questions about the lending process to get a feel for the personality of the lender. Always read the fine print before signing anything; you could be signing off on hidden fees. If you don’t understand everything about your mortgage papers, have them looked over by a professional.

Get Pre-Approval

There are two major benefits to mortgage pre-approval. Pre-approval gives you an idea of how much you can afford before beginning your home search. Without pre-approval, you could get deep into the buying process only to find out it is well beyond your financial limits, which would be unfortunate for both you and the hopeful seller. Having mortgage pre-approval gives you more bargaining power over other potential buyers if you are not the only one interested in a home. With pre-approval, you could potentially lower the asking price.

Applying for a mortgage can seem like an intimidating process, but with the right information and honest people working on your side, it is just one more exciting step toward home ownership. Keep your credit score in check before beginning the mortgage search, do your research before settling on a lender, and get a pre-approval letter before making an offer on a home. These steps can greatly help you in the search for your dream home.