Join Ted Hicks, Scott Benson, and their special guest, Craig Yace, as they unravel the dynamic real estate landscape of Corona, California, on the latest episode of The Real Estate Mortgage Insiders. With a keen focus on market trends, loan options, and innovative strategies, this episode offers valuable insights for both aspiring homeowners and savvy investors.

Craig kicks off the discussion by shedding light on Corona’s thriving market, with an astonishing 155 homes sold in the last week alone. The low inventory, with less than one month’s supply currently available, creates a competitive environment for potential buyers. Scott mentions a recent Wall Street Journal article that highlights how the prevailing low-interest rates are encouraging homeowners to hold onto their properties, further contributing to the limited inventory.

As the conversation progresses, Craig introduces the concept of assumable loans, which he is witnessing more frequently in the local market. Assumable loans present an attractive option for buyers, as they can take over the existing loan terms, providing a smoother transition and potentially more favorable financing conditions.

Ted delves into the realm of fix and flip loans, sharing an intriguing opportunity for seasoned investors. He mentions a lender that offers up to 90% loan-to-value (LTV) on a purchase and 100% financing for repair costs if the projected value upon completion generates an LTV of less than 70-75%. These loans, with a maximum term of 18 months, serve as bridge loans for investors looking to quickly renovate and resell properties for a profit.

Scott shines a light on FHA programs designed to assist individuals in purchasing and fixing mobile homes, providing affordable housing solutions and fostering homeownership opportunities.Ted adds another strategy to the mix, discussing the concept of “home hack.” This innovative approach involves leveraging a multiunit property, utilizing the income generated from the additional units to qualify for a loan. This strategy allows homeowners to maximize their investment potential and overcome affordability hurdles.

The team emphasizes the importance of establishing a strong online presence, particularly through Google My Business Profile (GMBP). They highlight the increasing significance of GMBP as more people turn to AI-driven search methods, underscoring its role in improving visibility and attracting potential clients.

In Ted’s tech tip of the day, he shares a quick and easy method to boost website SEO by incorporating video blogs using the Six Sigma System. This valuable technique can enhance online visibility and engage with audiences in a dynamic and informative manner.

Join The Real Estate Mortgage Insiders as they unravel the intricacies of Corona’s real estate market, explore innovative financing options, and provide valuable insights to navigate the ever-changing landscape of the industry.

Disclaimer: The information shared is based on the opinions and experiences of the show’s participants and should not be considered financial or legal advice. It is always recommended to consult with professionals for personalized guidance regarding real estate transactions and investments.