Should I Use My House to Finance a New Car?

According to Kelley Blue Book, the average price for a light vehicle in the United States was almost $38,000 in March 2020. Of course, the sticker price will depend on whether you want a small economy car, a luxury midsize sedan, an SUV or something in between. But the total you pay for a vehicle also depends on a number of other factors if you’re taking out a car loan.

Get the 4-1-1 on financing a car so you can make the best decision for your next vehicle purchase.

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Decide Whether to Finance a Car

Whether or not you should finance your next vehicle purchase is a personal decision. Most people finance because they don’t have an extra $20,000 to $50,000 they want to part with. But if you have the cash, paying for the car outright is the most economical way to purchase it.

For most people, deciding whether to finance a car comes down to a few considerations:

  • Do you need the vehicle enough to warrant making a monthly payment on it for several years?
  • Does the monthly payment work within your personal budget?
  • Is the deal, including the interest rate, appropriate?

Factors to Consider When Financing a Car

Obviously, the first thing to consider is whether you can afford the vehicle. But to understand that, you need to consider a few factors.

  • Total purchase price. Total purchase price is the biggest impact on how much you’ll pay for the car. It includes the price of the car plus any add-ons that you’re financing. Depending on the state and your own preferences, that might include extra options on the vehicle, taxes and other fees and warranty coverage.
  • Interest rate, or APR. The interest rate is typically the second biggest factor in how much you’ll pay overall for a car you finance. APR sounds complex, but the most important thing is that the higher it is, the more you pay over time. Consider a $30,000 car loan for five years with an interest rate of 6%—you pay a total of $34,799 for the vehicle. That same loan with a rate of 9% means you pay $37,365 for the car.
  • The terms. A loan term refers to the length of time you have to pay off the loan. The longer you extend terms, the less your monthly payment is. But the faster you pay off the loan, the less interest you pay overall. Edmunds notes that the current average for car loans is 72 months, or six years, but it recommends no more than five years for those who can make the payments work.

It’s important to consider the practical side of your vehicle purchase. If you take out a car loan for eight years, is your car going to still be in good working order by the time you get to the last few years? If you’re not careful, you could be making a large monthly payment while you’re also paying for car repairs on an older car.

Buying a Car with No Credit

You can buy a car anytime if you have the cash for the purchase. If you have no credit or bad credit, your options for financing a car might be limited. But that doesn’t mean it’s impossible to get a car loan without credit.

Many banks and lenders are willing to work with people with limited credit histories. Your interest rate will likely be higher than someone with excellent credit can command, though. And you might be limited on how much you can borrow, so you probably shouldn’t start looking at luxury SUVs. One tip for increasing your chances is to put as much cash down as you can when you buy the car.

If you can’t get a car loan on your own, you might consider a cosigner. There are pros and cons to asking someone else to sign on your loan, but it can get you into the credit game when the door is otherwise barred.

Personal Loans v. Car Loans: Which One Is Better?

Many people wonder if they should use a personal loan to buy a car or if there is really any difference between these types of financing. While technically a car loan is a loan you take out personally, it’s not the same thing as a personal loan.

Personal loans are usually unsecured loans offered over relatively short-term periods. The funds you get from a personal loan can typically be used for a variety of purposes and, in some cases, that might include buying a car. There are some great reasons to use a personal loan to buy a car:

  • If you’re buying a car from a private seller, a personal loan can hasten the process.
  • Traditional auto loans typically require full coverage insurance for the vehicle. A personal loan and liability insurance may be less expensive.
  • Lenders typically aren’t interested in financing cars that aren’t in driving shape, so if you’re buying a project car to work on in your garage during your downtime, a personal loan may be the better option.

But personal loans aren’t necessarily tied to the car like an auto loan is. That means the lender doesn’t necessarily have the ability to repossess the car if you stop paying the loan. Since that increases the risk for the lender, they may charge a higher interest rate on the loan than you’d find with a traditional auto loan. Personal loans typically have shorter terms and lower limits than auto loans as well, potentially making it more difficult for you to afford a car using a personal loan.

Steps You Should Follow When Financing a Car

Before you jump in and apply for that car loan, review these six steps you should take first.

1. Check your credit to understand whether you are likely to be approved for a loan. Your credit also plays a huge role in your interest rate. If your credit is too low and your interest rate would be prohibitively high, it might be better to wait until you can build or repair your credit before you get an auto loan. Sign up for ExtraCredit to see 28 of your FICO scores from all three credit bureaus.

2. Research auto loan options to find the ones that are right for you. Avoid applying too many times, as these hard inquiries can drag your credit score down with hard inquiries. The average auto loan interest rate is 27% on 60-month loans (as of April 13, 2020).

3. Get your trade-in appraised. The dealership might give you money toward your trade-in. That reduces the price of the car you purchase, which reduces how much you need to borrow. A few thousand dollars can mean a more affordable loan or even the difference between being approved or not.

4. Get prequalified for a loan online. While most dealers will help you apply for a loan, you’re in a better buying position if you walk into the dealership with funding ready to go. Plus, if you’re prequalified, you have a good idea what you can get approved for, so there are fewer surprises.

5. Buy from a trusted dealer. Unfortunately, there are dealerships and other sellers that prey on people who need a car badly. They may charge high interest or sell you a car that’s not worth the money you pay. No matter your financial situation, always try to work with a dealership that you can trust.

6. Talk to your car insurance company. Different cars will carry different car insurance premiums. Make a call to your insurance company prior to the sale to discuss potential rate changes so you’re not surprised by a higher premium after the fact.

Next to buying a home, buying a car is one of the biggest financial decisions you’ll make in your life, and you’ll likely do it more than once. Make sure you understand the ins and outs of financing a car before you start the process.

Source: credit.com

The Average New Car Payment Is Inching Closer to $500 a Month

According to Kelley Blue Book, the average price for a light vehicle in the United States was almost $38,000 in March 2020. Of course, the sticker price will depend on whether you want a small economy car, a luxury midsize sedan, an SUV or something in between. But the total you pay for a vehicle also depends on a number of other factors if you’re taking out a car loan.

Get the 4-1-1 on financing a car so you can make the best decision for your next vehicle purchase.

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Decide Whether to Finance a Car

Whether or not you should finance your next vehicle purchase is a personal decision. Most people finance because they don’t have an extra $20,000 to $50,000 they want to part with. But if you have the cash, paying for the car outright is the most economical way to purchase it.

For most people, deciding whether to finance a car comes down to a few considerations:

  • Do you need the vehicle enough to warrant making a monthly payment on it for several years?
  • Does the monthly payment work within your personal budget?
  • Is the deal, including the interest rate, appropriate?

Factors to Consider When Financing a Car

Obviously, the first thing to consider is whether you can afford the vehicle. But to understand that, you need to consider a few factors.

  • Total purchase price. Total purchase price is the biggest impact on how much you’ll pay for the car. It includes the price of the car plus any add-ons that you’re financing. Depending on the state and your own preferences, that might include extra options on the vehicle, taxes and other fees and warranty coverage.
  • Interest rate, or APR. The interest rate is typically the second biggest factor in how much you’ll pay overall for a car you finance. APR sounds complex, but the most important thing is that the higher it is, the more you pay over time. Consider a $30,000 car loan for five years with an interest rate of 6%—you pay a total of $34,799 for the vehicle. That same loan with a rate of 9% means you pay $37,365 for the car.
  • The terms. A loan term refers to the length of time you have to pay off the loan. The longer you extend terms, the less your monthly payment is. But the faster you pay off the loan, the less interest you pay overall. Edmunds notes that the current average for car loans is 72 months, or six years, but it recommends no more than five years for those who can make the payments work.

It’s important to consider the practical side of your vehicle purchase. If you take out a car loan for eight years, is your car going to still be in good working order by the time you get to the last few years? If you’re not careful, you could be making a large monthly payment while you’re also paying for car repairs on an older car.

Buying a Car with No Credit

You can buy a car anytime if you have the cash for the purchase. If you have no credit or bad credit, your options for financing a car might be limited. But that doesn’t mean it’s impossible to get a car loan without credit.

Many banks and lenders are willing to work with people with limited credit histories. Your interest rate will likely be higher than someone with excellent credit can command, though. And you might be limited on how much you can borrow, so you probably shouldn’t start looking at luxury SUVs. One tip for increasing your chances is to put as much cash down as you can when you buy the car.

If you can’t get a car loan on your own, you might consider a cosigner. There are pros and cons to asking someone else to sign on your loan, but it can get you into the credit game when the door is otherwise barred.

Personal Loans v. Car Loans: Which One Is Better?

Many people wonder if they should use a personal loan to buy a car or if there is really any difference between these types of financing. While technically a car loan is a loan you take out personally, it’s not the same thing as a personal loan.

Personal loans are usually unsecured loans offered over relatively short-term periods. The funds you get from a personal loan can typically be used for a variety of purposes and, in some cases, that might include buying a car. There are some great reasons to use a personal loan to buy a car:

  • If you’re buying a car from a private seller, a personal loan can hasten the process.
  • Traditional auto loans typically require full coverage insurance for the vehicle. A personal loan and liability insurance may be less expensive.
  • Lenders typically aren’t interested in financing cars that aren’t in driving shape, so if you’re buying a project car to work on in your garage during your downtime, a personal loan may be the better option.

But personal loans aren’t necessarily tied to the car like an auto loan is. That means the lender doesn’t necessarily have the ability to repossess the car if you stop paying the loan. Since that increases the risk for the lender, they may charge a higher interest rate on the loan than you’d find with a traditional auto loan. Personal loans typically have shorter terms and lower limits than auto loans as well, potentially making it more difficult for you to afford a car using a personal loan.

Steps You Should Follow When Financing a Car

Before you jump in and apply for that car loan, review these six steps you should take first.

1. Check your credit to understand whether you are likely to be approved for a loan. Your credit also plays a huge role in your interest rate. If your credit is too low and your interest rate would be prohibitively high, it might be better to wait until you can build or repair your credit before you get an auto loan. Sign up for ExtraCredit to see 28 of your FICO scores from all three credit bureaus.

2. Research auto loan options to find the ones that are right for you. Avoid applying too many times, as these hard inquiries can drag your credit score down with hard inquiries. The average auto loan interest rate is 27% on 60-month loans (as of April 13, 2020).

3. Get your trade-in appraised. The dealership might give you money toward your trade-in. That reduces the price of the car you purchase, which reduces how much you need to borrow. A few thousand dollars can mean a more affordable loan or even the difference between being approved or not.

4. Get prequalified for a loan online. While most dealers will help you apply for a loan, you’re in a better buying position if you walk into the dealership with funding ready to go. Plus, if you’re prequalified, you have a good idea what you can get approved for, so there are fewer surprises.

5. Buy from a trusted dealer. Unfortunately, there are dealerships and other sellers that prey on people who need a car badly. They may charge high interest or sell you a car that’s not worth the money you pay. No matter your financial situation, always try to work with a dealership that you can trust.

6. Talk to your car insurance company. Different cars will carry different car insurance premiums. Make a call to your insurance company prior to the sale to discuss potential rate changes so you’re not surprised by a higher premium after the fact.

Next to buying a home, buying a car is one of the biggest financial decisions you’ll make in your life, and you’ll likely do it more than once. Make sure you understand the ins and outs of financing a car before you start the process.

Source: credit.com

What Is High-Risk Car Insurance? A Guide

  • Car Insurance

High-risk car insurance is reserved for drivers who fall into the high-risk category, which includes anyone with multiple traffic violations, at-fault accidents, and other issues that result in higher costs for car insurance companies.

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If you’re in the high-risk category, your auto insurance quotes will be higher, and it may take several years for things to return to normal.

When are You Considered a High-Risk Driver?

You’re considered to be high-risk as soon as the statistics suggest that you’re more likely to make a claim.

For instance, you’ll be given the high-risk label if you are responsible for a major car accident or receive a DUI conviction. You’ll be given the same treatment if you have speeding tickets, run a red light, make an illegal turn, or fail to stop at the scene of an accident.

But that’s not all.

You also fall into the high-risk category if you’re a teenage driver who has just passed their test. Young drivers are significantly more likely to be involved in an accident and the same is true for male drivers and inexperienced drivers.

As a 16-year-old male getting behind the wheel for the first time, you’re considered to be just as much of a liability, if not more so, than an experienced driver who has previously been convicted of a serious driving offense.

The same is true for drivers over the age of 70, as the rate of accidents and claims increase after this milestone. That’s why many states insist on regular renewals along with vision tests, reaction tests, and letters from physicians.

How will Offenses Increase my Premiums?

Traffic violations can increase your car insurance rates and those increases will remain for several years. A DUI works in the same way, although, in this case, you may face an immediate suspension, as well as fines, and it could be some time before you’re allowed behind the wheel again.

The following price increases are based on national averages, but all auto insurance companies have different underwriting processes and take several other factors into consideration.

  • Driving Under the Influence = 70% to 80%
  • Reckless Driving = 75%
  • Racing = 70%
  • Speeding (30mph or more over the limit) = 30%
  • Texting While Driving = 22%
  • Distracted Driving = 21%
  • Speeding (15 to 30 mph over the limit) = 20%
  • Illegal Passing = 20%
  • Speeding (up to 15 mph over the limit) = 18%
  • Illegal Turn = 15%
  • Failure to Yield or Stop = 15%
  • Talking on Phone = 15%
  • Driving without Car Insurance = 10%
  • Not Wearing a Seatbelt (in New York) = 3%

Cost of High-Risk Insurance in Every State

Your location is one of the biggest factors determining the cost of your car insurance quotes and this is true whether you have a clean driving record or several moving violations.

In the list below, we have included the average cost of car insurance in each state, followed by the potential increases from speeding tickets and DUI/DWI convictions.

  • Alabama – Statewide Average Car Insurance Cost = $1,300; Cost with One Speeding Ticket = $1,670; Cost with One DUI = $2,500
  • Alaska – Statewide Average Car Insurance Cost = $1,200; Cost with One Speeding Ticket = $1,500; Cost with One DUI = $2,800
  • Arizona – Statewide Average Car Insurance Cost = $1,450; Cost with One Speeding Ticket = $1,780; Cost with One DUI = $1,800
  • Arkansas – Statewide Average Car Insurance Cost = $1,550; Cost with One Speeding Ticket = $1,900; Cost with One DUI = $2,400
  • California – Statewide Average Car Insurance Cost = $1,850; Cost with One Speeding Ticket = $2,400; Cost with One DUI = $4,000
  • Colorado – Statewide Average Car Insurance Cost = $1,780; Cost with One Speeding Ticket = $2,500; Cost with One DUI = $2,400
  • Connecticut – Statewide Average Car Insurance Cost = $1,650; Cost with One Speeding Ticket = $2,300; Cost with One DUI = $3,200
  • Delaware – Statewide Average Car Insurance Cost = $1,850; Cost with One Speeding Ticket = $2,200; Cost with One DUI = $2,600
  • D.C. – Statewide Average Car Insurance Cost = $1,900; Cost with One Speeding Ticket = $2,200; Cost with One DUI = $2,600
  • Florida – Statewide Average Car Insurance Cost = $1,230; Cost with One Speeding Ticket = $3,000; Cost with One DUI = $3,700
  • Georgia – Statewide Average Car Insurance Cost = $1,800; Cost with One Speeding Ticket = $2,200; Cost with One DUI = $3,000
  • Hawaii – Statewide Average Car Insurance Cost = $1,300; Cost with One Speeding Ticket = $2,400; Cost with One DUI = $4,200
  • Idaho – Statewide Average Car Insurance Cost = $1,050; Cost with One Speeding Ticket = $1,300; Cost with One DUI = $1,500
  • Illinois – Statewide Average Car Insurance Cost = $1,300; Cost with One Speeding Ticket = $1,400; Cost with One DUI = $1,900
  • Indiana – Statewide Average Car Insurance Cost = $1,180; Cost with One Speeding Ticket = $1,300; Cost with One DUI = $1,500
  • Iowa – Statewide Average Car Insurance Cost = $1,050; Cost with One Speeding Ticket = $1,280; Cost with One DUI = $1,700
  • Kansas – Average Premiums for Most Drivers = $1,400; Cost with One Speeding Ticket = $1,650; Cost with One DUI = $2,200
  • Kentucky – Average Premiums for Most Drivers = $1,600; Cost with One Speeding Ticket = $2,100; Cost with One DUI = $3,600
  • Louisiana – Average Premiums for Most Drivers = $2,300; Cost with One Speeding Ticket = $2,700; Cost with One DUI = $4,200
  • Maine – Average Premiums for Most Drivers = $850; Cost with One Speeding Ticket = $1,000; Cost with One DUI = $1,500
  • Maryland – Average Premiums for Most Drivers = $1,550; Cost with One Speeding Ticket = $1,800; Cost with One DUI = $2,600
  • Massachusetts – Average Premiums for Most Drivers = $1,250; Cost with One Speeding Ticket = $1,900; Cost with One DUI = $2,350
  • Michigan – Average Premiums for Most Drivers = $2,600; Cost with One Speeding Ticket = $3,400; Cost with One DUI = $5,800
  • Minnesota – Average Premiums for Most Drivers = $1,380; Cost with One Speeding Ticket = $1,700; Cost with One DUI = $2,350
  • Mississippi – Average Premiums for Most Drivers = $1,400; Cost with One Speeding Ticket = $2,000; Cost with One DUI = $2,300
  • Missouri – Average Premiums for Most Drivers = $1,280; Cost with One Speeding Ticket = $1,400; Cost with One DUI = $1,900
  • Montana – Average Premiums for Most Drivers = $1,600; Cost with One Speeding Ticket = $1,800; Cost with One DUI = $2,100
  • Nebraska – Average Premiums for Most Drivers = $1,300; Cost with One Speeding Ticket = $1,650; Cost with One DUI = $1,750
  • Nevada – Average Premiums for Most Drivers = $1,550; Cost with One Speeding Ticket = $1,900; Cost with One DUI = $3,000
  • New Hampshire – Average Premiums for Most Drivers = $1,100; Cost with One Speeding Ticket = $1,450; Cost with One DUI = $1,850
  • New Jersey – Average Premiums for Most Drivers = $1,520; Cost with One Speeding Ticket = $1,800; Cost with One DUI = $3,000
  • New Mexico – Average Premiums for Most Drivers = $1,400; Cost with One Speeding Ticket = $1,800; Cost with One DUI = $2,000
  • New York – Average Premiums for Most Drivers = $1,800; Cost with One Speeding Ticket = $2,450; Cost with One DUI = $3,000
  • North Carolina – Average Premiums for Most Drivers = $1,100; Cost with One Speeding Ticket = $2,200; Cost with One DUI = $4,400
  • North Dakota – Average Premiums for Most Drivers = $1,170; Cost with One Speeding Ticket = $1,350; Cost with One DUI = $2,200
  • Ohio – Average Premiums for Most Drivers = $1,180; Cost with One Speeding Ticket = $1,250; Cost with One DUI = $1,700
  • Oklahoma – Average Premiums for Most Drivers = $1,500; Cost with One Speeding Ticket = $1,900; Cost with One DUI = $2,500
  • Oregon – Average Premiums for Most Drivers = $1,300; Cost with One Speeding Ticket = $1,450; Cost with One DUI = $1,850
  • Pennsylvania – Average Premiums for Most Drivers = $1,200; Cost with One Speeding Ticket = $1,600; Cost with One DUI = $1,850
  • Rhode Island – Average Premiums for Most Drivers = $1,850; Cost with One Speeding Ticket = $2,500; Cost with One DUI = $3,350
  • South Carolina – Average Premiums for Most Drivers = $1,440; Cost with One Speeding Ticket = $1,600; Cost with One DUI = $2,200
  • South Dakota – Average Premiums for Most Drivers = $1,270; Cost with One Speeding Ticket = $1,500; Cost with One DUI = $2,200
  • Tennessee – Average Premiums for Most Drivers = $1,300; Cost with One Speeding Ticket = $1,550; Cost with One DUI = $2,100
  • Texas – Average Premiums for Most Drivers = $1,800; Cost with One Speeding Ticket = $1,900; Cost with One DUI = $2,300
  • Utah – Average Premiums for Most Drivers = $1,200; Cost with One Speeding Ticket = $1,450; Cost with One DUI = $1,900
  • Vermont – Average Premiums for Most Drivers = $1,100; Cost with One Speeding Ticket = $1,350; Cost with One DUI = $2,050
  • Virginia – Average Premiums for Most Drivers = $1,070; Cost with One Speeding Ticket = $1,200; Cost with One DUI = $1,550
  • Washington – Average Premiums for Most Drivers = $1,400; Cost with One Speeding Ticket = $1,600; Cost with One DUI = $2,000
  • West Virginia – Average Premiums for Most Drivers = $1,480; Cost with One Speeding Ticket = $1,750; Cost with One DUI = $2,100
  • Wisconsin – Average Premiums for Most Drivers = $950; Cost with One Speeding Ticket = $1,450; Cost with One DUI = $1,950
  • Wyoming – Average Premiums for Most Drivers = $1,600; Cost with One Speeding Ticket = $2,000; Cost with One DUI = $2,200

High-Risk Insurance Options

Many insurance carriers will still offer you a policy if you are in the high-risk category, you’ll just be quoted much higher prices until you clean up your driving record.

Try the following tips to ensure you get the best car insurance even when you are considered to be a higher risk.

1. Improve Your Credit Score

Underwriters look at your credit score to determine your risk. They know, for instance, that someone with bad credit is more likely to make a claim on their policy. As a result, bad credit drivers are charged much higher rates than those with good credit.

There are a few likely scenarios here. The first is that people with good credit are more financially responsible. Not only are they less likely to drive fast or recklessly, but they are also more likely to pay for small accidents out of pocket.

Perhaps more importantly, a good credit driver is more likely to pay for their premiums on time, thus causing fewer problems for the insurer. 

Maintain a good credit history by meeting all your monthly payments on time; avoid applying for any new loans or credit cards; increase your credit limits where possible, and clear as much of your current debt balances as you can.

All of these simple methods will ensure your credit score stays strong.

2. Take a Defensive Driving Course

A defensive driving course can undo some of the damage done by a traffic violation and give you the experience and skills you need to stay safe behind the wheel. A knowledgeable driver is a safe driver, which is why defensive driving certificates can save you money.

​3. Buy a Suitable Car

If you’re a new driver or you’re making a transition from one vehicle to the next and have the luxury of, then you’re in a very strong position. 

Many young drivers, for instance, will get the fastest and most powerful car they can afford. Either that, or they save every cent they can and purchase the latest trendy new vehicle. But neither of these options will result in an affordable car insurance policy.

A new car typically costs more to insure than an older car, as the cost of replacing it and repairing the electronics will be much higher. As for sports cars and luxury cars, they have much lower safety ratings and, as a result, will almost certainly drive those insurance premiums sky-high.

The ideal car is one that has a high safety rating, is affordable, comes with numerous safety features and anti-theft features, and doesn’t have many custom parts or hard-to-replace parts.

Not only will car insurance companies look more fondly on vehicles that fit this mold, but you can also take more liberties with regards to the deductible and the coverage options.

For example, a brand-new car will need New Car Replacement coverage, as well as collision cover and comprehensive cover. That way, if you hit a wall, a tree or an animal, or your car is stolen, vandalized or damaged following an extreme weather event, you don’t stand to lose all of your investment.

If the car is cheap, you can dismiss those potentially expensive options, knowing that you can cover all minor repairs yourself and write off the vehicle entirely if anything major happens to it.

4. Compare and Contrast

Hundreds of insurance companies operate in every single state and you can sign up over the phone, online or via an insurance agent. With so many choices and possibilities, you have no excuse not to shop around.

A car insurance policy is like any other big purchase you make. You wouldn’t buy a brand new $2,000 computer after visiting just one store, nor would you drop several grand on the first car you see.

With car insurance, you need to consult many reps from many major insurance companies (Allstate, GEICO, State Farm, Progressive, Nationwide) as well as a few local and specialized ones (The General, USAA).

It’s the only way to guarantee the best rates and this applies whether you have a clean driving history, or one filled with violations and insurance claims.

5. Get Some Car Insurance Discounts

Reduce your car insurance premiums by checking all possible discounts and getting as many of them as you can. Car insurance discounts differ from provider to provider and from state to state, but generally, they include:

  • Good Student Discount: Many state authorities require insurance carriers to offer discounts for students who maintain a high-grade point average. This is also true for high-risk auto insurance providers and for all qualifying applicants, the discounts can be incredibly generous.
  • Safety Features Discount: The addition of front-and-side airbags could save you as much as 40% on comprehensive insurance coverage. The risk of serious injuries and fatalities drops considerably when these basic safety features are installed. Discounts are also offered for anti-lock brakes, car alarms, and other features designed to keep drivers safe and prevent the vehicle from being stolen or vandalized.
  • Multi-Car Discount: Add multiple vehicles to the same policy to qualify for a discount. If you have multiple cars and drivers in your household, this discount is a must.
  • Multi-Policy Discount: Insurers use this discount to encourage policyholders to sign up for additional services. For instance, most major standard and non-standard auto insurance carriers will give you a discount if you purchase homeowners insurance along with auto insurance.
  • Student Away Discount: If you’re a young driver who lives and studies on campus, you may qualify for this discount, which takes advantage of the fact you will spend much less time on the roads.
  • Senior Discount: Some states offer discounts to senior drivers, and those drivers could save even more if they have a long and clean driving record behind them. Bear in mind, however, that many states also require additional vision/reaction tests to ensure you’re still capable and responsible.
  • Low Mileage: Mileage based car insurance providers charge you by the mile. You may pay more if you drive a lot but could save yourself a few dollars if you drive very little. The major providers offer something similar, installing apps that monitor your driving habits and use the data gathered to tweak your insurance premiums.
  • Married Homeowner Discount: Although it’s not a discount as such, you will receive a much cheaper auto insurance policy if you own your home and are married. Insurers covet married policyholders as they are more responsible, less likely to claim, and they can also get a two-for-one deal.

Bottom Line: Higher Premiums but Still Affordable

Receiving the high-risk label doesn’t mean you’re doomed forever, nor does it mean you’ll be paying through the nose for the most basic of car insurance policies. 

You’ll pay more than you would for a standard insurance policy, but by doing a little research and a lot of comparison shopping, and by keeping a clean driving record from this moment on, you’ll save yourself thousands of dollars and avoid concerning rate increases in the future.

Source: pocketyourdollars.com

5 Things That Might Happen When You Go From Owning To Renting

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5 Things That Might Happen When You Go From Owning To Renting

In the age of “renting by choice”, the debate between renting an apartment vs. buying a home is starting to heat up.  No matter where you stand, you can’t argue with the fact that renting comes with a set of perks that homeowners don’t necessarily enjoy.  Millennials are often the focus of this discussion as they start to build a life, settle down and go from renting by necessity to shopping for a house to buy.  On the other end of the spectrum, however, are the retired set who no longer want or need to own the home they’ve been living in.  Rather than downsizing to a smaller (purchased) home, empty-nesters and retirees are beginning to consider renting an apartment as a more attractive option.  Here are a few things that might happen when you go from owning to renting.  

You Might Enjoy A Newfound Sense Of Freedom

Owning a home means being locked in until you’re able to sell the house.  This comes with a lot of uncertainty – timing, price, and terms of the sale are all relatively out of your control, which can be scary.  As a renter, you’re only locked in to the lease term that you agreed to upon move-in, and even then you can break your lease, typically with a penalty of some sort, such as one full month of rent payment or forfeiture of your security deposit.  This means that when your lease is up, you’re free to explore a different floorplan, apartment building, neighborhood, or even a new city altogether.

You Might Save Money (Or At Least Have More Predictable Expenses)

Depending on where you live (and just how much you’re downsizing), trading in your mortgage payments for rent payments can add some extra padding back to your wallet.  Renting means eliminating your mortgage payments and property taxes, but it also means cutting out those often unpredictable and poorly timed expenses like replacing an old roof or fixing a plumbing issue.  Having more predictable expenses to deal with, particularly after retirement, can be a very attractive notion.

You Might Pare Down To Just The Essentials (And Be Happy About It!)

Owning your own home often comes with the not-so-pleasant side effect of accumulating a ton of stuff over time.   When there’s an abundance of storage space available to you, like an attic, basement, or garage, it can be very easy to just put something away to deal with later rather than really taking the time to think about if and when you’ll need or want that item again in the future.  The process of clearing out this accumulated clutter can be a daunting one, but once it’s done, you’re likely to be more mindful about letting the clutter build up again.  Plus, your apartment isn’t as likely to have the extra space for stuff, even if you were tempted to fall back into that bad habit.

You Might Seriously Upgrade Your Surroundings & Amenities

Apartment communities, particularly in metro areas, are becoming more and more luxurious in their finish packages and amenity offerings, but developers are moving beyond simple luxury and putting some real thought into the amenities and features being offered.  In an age where residents are choosing to rent as a long term plan, the focus has turned to creating a rental space that provides as many of the comforts of home ownership as possible.  In your individual apartment, downsizing to a smaller floorplan could mean that you are able to upgrade your space with nicer and newer appliances and finishes.  In your apartment community, you may be able to enjoy amenity offerings ranging from rooftop gardens and swimming pools to state-of-the-art fitness centers and dog washing stations, right in the comfort of your own (extended) home.

You Might Get Your Weekend Back

In addition to eliminating most unexpected home expenses, renting means that when an issue does come up, the landlord or management company will most often be responsible for addressing the issue.  In addition, regular maintenance items like replacing your AC filter and mowing the grass will be a thing of the past.  This means you get to reclaim some of your weeknight and weekend time and use it to do something you love!

Interested in further exploring the idea of renting as a retiree?  Check out our piece for the Allstate Blog about Things To Consider Before Renting for Retirees.

Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.

Source: blog.apartminty.com

Homie’s Greater Phoenix, AZ Housing Market Update July 2020

It’s hot outside and so is the market!

“Hottest Summer ever in Phoenix recorded history and also the hottest July ever for real estate sales in the Greater Phoenix area. Our market is smoking! In the last 20 years, monthly sales have topped 10,000 only four previous times. July 2020 has reached this milestone with 10,303 sales!” -Wayne Graham, Head of Real Estate Operations at Homie Arizona.

Monthly Sales

chart showing number of home sales in AZ from July 1 to July 31, 2020

Data via ARMLS® from July 1, 2020 to July 31, 2020.

According to the data from the ARMLS® from July 1, 2020 to July 31, 2020, real estate sales are up +8.4% month-over-month . The year-over-year comparison is up +12.1% at 10,303 compared to 9,192 in 2018-19.

List Price

*Data from the ARMLS® from July 1, 2020 to July 31, 2020.

Average new list prices are up +15.7% at $418.2K compared to $361.3K in 2018-19. The year over-year median is up +12.9% at $325K, compared to $287.9K in 2018-19.

Sale Price

chart comparing july 1-july 31 2020 to last quarter 2019.

*Data from the ARMLS® from July 1, 2020 to July 31, 2020.

Home values are staying strong. The average sales price is up +14.6% year-over year at $391.6K, compared to $341.6K in 2018-19. While the year-over year median sales price is also up +12.5% at $315K compared to $280K in 2018-19.

Days on Market (DOM)

chart comparing average days on market in july 1 to july 31 2020 to 2019

*Data from the ARMLS® from July 1, 2020 to July 31, 2020.

We saw the Average Cumulative Days on Market decrease in July 2020-19, averaging 55 days on market versus 63 Average Cumulative Days on Market in 2018-19. At Homie, we are continuing to see sellers getting multiple offers on their homes.

July Breaks Records in 2020

A message from our Associate Broker, Jennifer Hull:

For Buyers

It’s a jungle out there for buyers! Despite recent appreciation rates the Home Opportunity Index* measure for the Greater Phoenix market increased to 64.8% for the 2nd Quarter in 2020; the previous measure was 63.0%. This means that a household making the current median family income of $72,300 per year could afford 64.8% of what sold in the 2nd Quarter of 2020. By comparison, the HOI measure for the United States was 59.6%.

Historically, a normal range for this measure is between 60-75%. During the bubble years of excessive appreciation between 2005-2006, the HOI plummeted from 60.1% to 26.6%. Typically if it falls below 60%, the market should start to see a drop in demand. With the most recent increase however, Greater Phoenix is still within normal range and experiencing demand 20% above normal for this time of year.

What makes this market significantly different from the infamous bubble and crash is the relation between resale housing growth and population growth. In the early 2000’s, housing was growing faster than the population and creating a surplus. This surplus went unnoticed due to excessive speculator (i.e. “false”) demand fueled by loose lending practices. When loans tightened up, the surplus came roaring into focus as vacant inventory soared to over double the normal levels. However since 2006, the population has grown faster than housing. It has taken 14 years, but the population growth fueled by job growth has finally consumed the surplus of resale housing created during the bubble years and now the market is facing a shortage of homes for sale.

This type of market and appreciation is not sustainable long term, however it’s here now and properties purchased today are expected to continue appreciating over the next 6-12 months.

For Sellers

So much for the summer slowdown, July had a record number of closings go through the Arizona Regional MLS; surpassing every July as far back as 2001. July also had record breaking sales in dollar volume with $3.9B sold. The best July ever recorded prior was in 2005 at $2.9B. The monthly appreciation rate finalized 12.5% higher than 2019 and was the 4th highest appreciation rate for July going back to 2001.

“One third of homes closed were over asking price and only 15% involved any sort of seller-paid closing cost assistance; down from a high of 27% last May. Half of all sellers who accepted contracts in the first week of August did so with 7 days or less on the market.

Contracts on luxury homes over $1M are up an incredible 93% over last year at this time. Between $500K-$1M, contracts are up 64%. Between $300K-$500K, they’re up 39%. Between $250K-$300K, up 15%. If you need to sell, this is indeed the time to do it!” -Jennifer Hull, Associate Broker at Homie Arizona.

Want to Know Your Home’s Value?

Want to know how much your home is worth? Click here to request your home value report.

Turn to a Homie

Homie has local real estate agents in all of our service areas. These agents are pros in everything they do, including understanding the local real estate market. Click to start selling or buying and to get in touch with your dedicated agent.

Source: homie.com

Mindy Kaling is Moving Into Frank Sinatra’s Beach House in Malibu, Known as Ol’ Blue Eyes’ “Happiest Place on Earth”

Mindy Kaling just got herself a new home in Malibu, and boy is it one for the history books! According to the Los Angeles Times, the actress bought Frank Sinatra’s former Malibu home for $9.55 million.

After selling two other homes in the Los Angeles area in the past three years, Mindy Kaling seems to have settled on Malibu as a place to call home, and will be moving into her new place on Broad Beach with her adorable toddler, Katherine. And it only makes sense that the Sinatra beach house was the one to lock her down, as Frank Sinatra rightfully once called it “the happiest place on Earth”.

A coastal estate with seven bedrooms and nine bathrooms, 5,824 square feet, and plenty of outdoor spaces to soak in the vast ocean views, it’s easy to see why the oceanfront estate served as a frequent hangout for Sinatra’s star-studded crew. 

When we first reported on the listing (back in December 2018, when the property first came to market), and got in touch with one of the real estate agents in charge of the listing, I was humbled to learn that Leonard Rabinowitz (of Hilton & Hyland) was a real-life friend of the Sinatras. One that has actually passed through the doors of their home as a guest, and one that can help tell the story of the home where “The Voice” had spend his final years.

“I met Mr. & Mrs. Sinatra in the early 90’s when mutual friend and poker pal Angie Dickinson invited me to their beach house for a Sunday afternoon” Leonard Rabinowitz said. “When you enter the front door of the Sinatra Beach House there is an expansive view straight through the house and grounds to the ocean. As spectacular as the ocean view is, I was just as struck by those seated in the living room. There were Mr. & Mrs. Gregory Peck, Jack Lemmon, Dick Martin, Robert Wagner, Louis Jourdan, Steve Lawrence, Edye Gorme, and Dick Van Dyke. A room full of legends!”

Frank-Sinatra-home-interiors
Photo credits: Mike Helfrich
Frank-Sinatra-house-malibu
Photo credits: Mike Helfrich

The story of how Frank Sinatra made Malibu his home

According to Mr. Rabinowitz, at the beginning of the 1990s Frank Sinatra and his wife Barbara would often visit their friends Steve and Eydie (Steve Lawrence and Eydie Gormé.) The Grammy Award-winning husband-and-wife duo were close friends of the Sinatras and would often invite them over to their Broad Beach home.

That’s how the two fell in love with the area and bought a lot there in 1990, lot that they used to built what was later on their ‘happiest place on earth’: a 7-bedroom, 9-bathroom dream beach home that opens up to the ocean.

With lots of space for entertaining, the 5,800-square-foot Sinatra Beach House comes with a state-of-the-art gourmet kitchen, endless dining and living spaces (fit for a world-class entertainer), a stunning indoor-outdoor bar, and a patio overlooking a grassy lawn out to the ocean. There’s also a sauna, a hair-salon, and an elevator with leopard-print design. Don’t know how Mindy Kaling feels about all that, but I do know is that one Mindy Lahiri would be ecstatic about the leopard-print elevator!

frank-sinatra-malibu-home-ocean-views
Photo credits: Mike Helfrich
Frank-Sinatra-house-interiors
Photo credits: Mike Helfrich

The Sinatra house of love

Working with designer Edward “Ted” Grenzbach — who also designed homes for the likes of Johnny Carson, Barbara Streisand, Rupert Murdoch and Cher — Barbara and Frank Sinatra saw their dream home come to life.

And they were so happy with the results that, according to Mrs. Sinatra’s autobiography, “Lady Blue Eyes: My Life with Frank“, they decided to renew their vows in the house’s backyard in 1996.

In an intimate setting, with friends and family attending, the Sinatra Beach House stood witness to a ceremony celebrating renewed commitments of love and friendship from Frank and Barbara Sinatra. Now isn’t that a wonderful story to tell visitors when they come visit Mindy Kaling’s house?

frank-sinatra-house-bedroom
Photo credits: Mike Helfrich
frank-sinatra-house-bedroom
Photo credits: Mike Helfrich

After his death in 1998, Frank Sinatra’s house was passed on to a trust linked to Mrs. Sinatra. Following her own death in 2017, the house was brought to market by her son from a previous marriage, Robert Oliver, and initially priced at $12,900,000.

Agents Leonard Rabinowitz and Jack Friedkin with Hilton & Hyland, and Chris Cortazzo with Coldwell Banker were in charge of the listing, with Cortazzo also representing Kaling in the transaction.

frank-sinatra-beach-house
Photo credits: Mike Helfrich

More celebrity homes:

Sir Anthony Hopkins is Selling His Malibu Home Perched on a Cliff’s Edge
Shaquille O’Neal is Selling his L.A. Home… on Instagram
Inside Supernatural Star Jensen Ackles’ ‘Very Hip’ Lake House in Austin
The Mysterious Allure of Stephen King’s House, the Beating Heart of Bangor, Maine

Source: fancypantshomes.com

Would You Share a Car With Friends? A New Ford Program Thinks So

According to Kelley Blue Book, the average price for a light vehicle in the United States was almost $38,000 in March 2020. Of course, the sticker price will depend on whether you want a small economy car, a luxury midsize sedan, an SUV or something in between. But the total you pay for a vehicle also depends on a number of other factors if you’re taking out a car loan.

Get the 4-1-1 on financing a car so you can make the best decision for your next vehicle purchase.

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Decide Whether to Finance a Car

Whether or not you should finance your next vehicle purchase is a personal decision. Most people finance because they don’t have an extra $20,000 to $50,000 they want to part with. But if you have the cash, paying for the car outright is the most economical way to purchase it.

For most people, deciding whether to finance a car comes down to a few considerations:

  • Do you need the vehicle enough to warrant making a monthly payment on it for several years?
  • Does the monthly payment work within your personal budget?
  • Is the deal, including the interest rate, appropriate?

Factors to Consider When Financing a Car

Obviously, the first thing to consider is whether you can afford the vehicle. But to understand that, you need to consider a few factors.

  • Total purchase price. Total purchase price is the biggest impact on how much you’ll pay for the car. It includes the price of the car plus any add-ons that you’re financing. Depending on the state and your own preferences, that might include extra options on the vehicle, taxes and other fees and warranty coverage.
  • Interest rate, or APR. The interest rate is typically the second biggest factor in how much you’ll pay overall for a car you finance. APR sounds complex, but the most important thing is that the higher it is, the more you pay over time. Consider a $30,000 car loan for five years with an interest rate of 6%—you pay a total of $34,799 for the vehicle. That same loan with a rate of 9% means you pay $37,365 for the car.
  • The terms. A loan term refers to the length of time you have to pay off the loan. The longer you extend terms, the less your monthly payment is. But the faster you pay off the loan, the less interest you pay overall. Edmunds notes that the current average for car loans is 72 months, or six years, but it recommends no more than five years for those who can make the payments work.

It’s important to consider the practical side of your vehicle purchase. If you take out a car loan for eight years, is your car going to still be in good working order by the time you get to the last few years? If you’re not careful, you could be making a large monthly payment while you’re also paying for car repairs on an older car.

Buying a Car with No Credit

You can buy a car anytime if you have the cash for the purchase. If you have no credit or bad credit, your options for financing a car might be limited. But that doesn’t mean it’s impossible to get a car loan without credit.

Many banks and lenders are willing to work with people with limited credit histories. Your interest rate will likely be higher than someone with excellent credit can command, though. And you might be limited on how much you can borrow, so you probably shouldn’t start looking at luxury SUVs. One tip for increasing your chances is to put as much cash down as you can when you buy the car.

If you can’t get a car loan on your own, you might consider a cosigner. There are pros and cons to asking someone else to sign on your loan, but it can get you into the credit game when the door is otherwise barred.

Personal Loans v. Car Loans: Which One Is Better?

Many people wonder if they should use a personal loan to buy a car or if there is really any difference between these types of financing. While technically a car loan is a loan you take out personally, it’s not the same thing as a personal loan.

Personal loans are usually unsecured loans offered over relatively short-term periods. The funds you get from a personal loan can typically be used for a variety of purposes and, in some cases, that might include buying a car. There are some great reasons to use a personal loan to buy a car:

  • If you’re buying a car from a private seller, a personal loan can hasten the process.
  • Traditional auto loans typically require full coverage insurance for the vehicle. A personal loan and liability insurance may be less expensive.
  • Lenders typically aren’t interested in financing cars that aren’t in driving shape, so if you’re buying a project car to work on in your garage during your downtime, a personal loan may be the better option.

But personal loans aren’t necessarily tied to the car like an auto loan is. That means the lender doesn’t necessarily have the ability to repossess the car if you stop paying the loan. Since that increases the risk for the lender, they may charge a higher interest rate on the loan than you’d find with a traditional auto loan. Personal loans typically have shorter terms and lower limits than auto loans as well, potentially making it more difficult for you to afford a car using a personal loan.

Steps You Should Follow When Financing a Car

Before you jump in and apply for that car loan, review these six steps you should take first.

1. Check your credit to understand whether you are likely to be approved for a loan. Your credit also plays a huge role in your interest rate. If your credit is too low and your interest rate would be prohibitively high, it might be better to wait until you can build or repair your credit before you get an auto loan. Sign up for ExtraCredit to see 28 of your FICO scores from all three credit bureaus.

2. Research auto loan options to find the ones that are right for you. Avoid applying too many times, as these hard inquiries can drag your credit score down with hard inquiries. The average auto loan interest rate is 27% on 60-month loans (as of April 13, 2020).

3. Get your trade-in appraised. The dealership might give you money toward your trade-in. That reduces the price of the car you purchase, which reduces how much you need to borrow. A few thousand dollars can mean a more affordable loan or even the difference between being approved or not.

4. Get prequalified for a loan online. While most dealers will help you apply for a loan, you’re in a better buying position if you walk into the dealership with funding ready to go. Plus, if you’re prequalified, you have a good idea what you can get approved for, so there are fewer surprises.

5. Buy from a trusted dealer. Unfortunately, there are dealerships and other sellers that prey on people who need a car badly. They may charge high interest or sell you a car that’s not worth the money you pay. No matter your financial situation, always try to work with a dealership that you can trust.

6. Talk to your car insurance company. Different cars will carry different car insurance premiums. Make a call to your insurance company prior to the sale to discuss potential rate changes so you’re not surprised by a higher premium after the fact.

Next to buying a home, buying a car is one of the biggest financial decisions you’ll make in your life, and you’ll likely do it more than once. Make sure you understand the ins and outs of financing a car before you start the process.

Source: credit.com

Got $25 Million to Spare? Then This is Your Chance to Live Large in Los Angeles

If you’ve ever dreamt of living your most luxurious life in the heart of California and you’ve got $25.5 million to spare, then this next property might be the one for you.

Set at 12833 Chalon Road, within the Brentwood Country Estates in Los Angeles, this fabulous mansion is looking for a new owner, and possibly for a fresh start. 

The Agency’s Santiago Arana and Brian Selem are trying to find a new owner for the 6-bedroom, 10-bathroom property. They’re marketing it as a once-in-a-lifetime opportunity to build your dream home on one of just 13 properties set within the sought-after community enclave. The new owner will have the option of remodeling and expanding the mansion, or demolishing the existing structure to make room for a custom one.

12833 Chalon Road, Los Angeles, CA.
12833 Chalon Road, Los Angeles, CA. Image credit: The Agency

The 1996-built home lies on a 5.3-acre lot which includes roughly 2 acres level of football-field-like yards, fruit orchards, and a lighted tennis court.

The grounds offer complete privacy and security, as the community is gated and watched by a guard 24/7, and the new owners will be able to enjoy stunning ocean, Santa Monica mountains, city and canyon views. 

The existing home boasts a charming Tuscan-style design, which harkens back to the mansions sprinkled on the fields of central Italy. The 8,500-square-foot villa was envisioned by Robert Earl, who designed homes for Madonna and Sylvester Stallone.

12833 Chalon Road, Los Angeles, CA.
12833 Chalon Road, Los Angeles, CA. Image credit: The Agency
12833 Chalon Road, Los Angeles, CA.
12833 Chalon Road, Los Angeles, CA. Image credit: The Agency

SEE ALSO: Wiz Khalifa’s Fun L.A. Pad Comes with a Dab Bar, Weed Wall, and Gumball Machine

12833 Chalon Road, Los Angeles, CA.
12833 Chalon Road, Los Angeles, CA. Image credit: The Agency
12833 Chalon Road, Los Angeles, CA.
12833 Chalon Road, Los Angeles, CA. Image credit: The Agency
12833 Chalon Road, Los Angeles, CA.
12833 Chalon Road, Los Angeles, CA. Image credit: The Agency

The property at 12833 Chalon Road features oversized French doors lining the living areas, which open to romantic terraces and loggias that epitomize that sought-after Cali living lifestyle.

Better yet, there’s a virtual tour of this Brentwood property that lets you see for yourself.

More luxury homes

The Beverly House, where Jackie O & JFK Honeymooned and where Coppola Shot “The Godfather” Is No Easy Sell
Cara Delevigne’s House in Los Angeles is a Jungle-Themed RetreatA $25M Cali Home is Being Marketed With the Help of NBC’s Dance StarsThis Newly Built Hollywood Hills Home is a Modern Architectural Gem

Source: fancypantshomes.com

Top Places to Retire in Arizona

Arizonans say it best with the famous truism, “In Arizona, we salt margaritas, not sidewalks.” The perfect escape from brutal winters, Arizona has attracted d retirees with its picturesque landscape, warmer temps, and laid back vibes. It’s no wonder; after years of hard work and dedication to the wellbeing of others, retirees deserve all that Arizona has to offer.

The soothing weather and chill atmosphere comes at a price (and it’s a low one). Arizona’s cost of living is significantly less than that of most north, northeast, and midwestern states. On top of that, groceries, healthcare, and miscellaneous expenses fall significantly below the national average. Things in Arizona aren’t just easy on the wallet, they’re also convenient. Arizona offers a diverse arrangement of shops, eateries and retail outlets. Ready to move here? To make things even easier, there are plenty of 55+ communities which are full of amenities and activities. Here’s a list of the top active adult communities in Arizona to check out.

Sun City Grand feels much more like a resort than your typical “community,” and if you want a pristine active, yet relaxing atmosphere, Sun City has you covered. Packed with four golf courses, Sun City Grand offers a variety of terrain and a mix of forgiving and challenging holes.
The fitness department is ready to satisfy your exercise needs, regardless of whether you want to go all-out or take it step-by-step. Residents can take group classes or get one-on-one guidance to progress towards their goals.

The homes in Sun City Grand focus on luxury in both their amenities and architecture. They range in size from 1,096 to 3,388 square feet. Each residence has its own personal style, décor and feel, so residents aren’t forced to settle for cookie cutter design; you can choose something that suits your unique tastes.
Sun City Grand also provides residents with an immersive community experience. Whether you engage in any of Sun City’s many activities, golf, or community meetings, it’s easy to get swept up in the energy of one of Arizona’s best retirement communities.

Featuring a range of custom builders and designers, the homes at The Trilogy provide residents with a unique living experience. Unlike some Phoenix retirement communities, you can choose the builder you want according to the style that suits you best. And regardless of which home you choose, you get an impressive list of amenities, including modern appliances, plush furniture, plenty of light and layouts designed to make hosting friends and family easy and fun.

The Trilogy has several options to keep you busy and entertained—if you choose—and many ways to kick back and unwind. One element that sets The Trilogy apart from some other Arizona retirement communities is its network of trails and parks. Residents can immerse themselves in nature while working up a nice sweat through the twists and turns. Vistancia also boasts two lap pools, four tennis courts, indoor basketball, modern fitness centers, the Blackstone Country Club, and more.

PebbleCreek offers a variety of expansive, convenient floor plans with all the finishings to make your home a haven of comfort. With 21 different options ranging from 1,569 to 3079 square feet, it’s not hard to find something that suits your tastes. And when it comes to “tastes,” PebbleCreek has you more than covered. Its series of restaurants set it apart from many other active adult communities, thanks to their wide selection of flavors and culinary styles. The Tuscany Sports and Aquatics Complex offers many sports and fitness options, as well as both indoor and outdoor swimming and water activities. Its fitness center and outdoor sports courts provide residents with more than enough options for getting and staying in shape.

In addition to Eagle’s Nest and Tuscany Falls right within PebbleCreek’s borders, golfers can enjoy a pass to all seven Robson Resort Communities across Texas and Arizona. Whether you want to keep it local or embark on a little road trip, PebbleCreek has you covered.

Sun Lakes specializes in fitting each resident with an optimal range of activities. You can choose events and organizations based on your age, which means you can connect with people at similar stages in life. Sun Lakes has several gated communities to choose from and a laundry list of amenities and cool things to get into.

From driving ranges to golf courses to health clubs and stocked fishing, the challenge isn’t finding something to do; it’s figuring out what to do when. Sun Lakes is also conveniently located near several high tech firms and high-end shopping, restaurants spas, and health care services. Sun Lakes is also only 20 minutes from the city, so residents can easily visit friends in other Phoenix retirement communities.

Sunland Springs boasts an ideal location, which affords residents views of the Superstition Mountains and easy access to shopping and restaurants and other retirement communities. Residents can also indulge in Sunland Springs’ 27-hole executive golf course or one of a long list of activities. Sunland has everything from basketball to billiards to softball to shuffleboard.

Another amenity that sets Sunland Springs apart from other Arizona retirement communities is its arts and crafts. Residents can learn ceramics, how to work with stained glass, glass fusing, and even silversmithing.

Sunland helps residents thrive through community-building clubs and activities. For example, Sunland Springs’ genealogy club only costs $10.00 a year and gives members the chance to investigate new ways of tracking down their ancestral records as well as learn from the efforts of others.

Request a Tour

Want to request a tour or virtual tour at one of these amazing communities? Fill out your information here and a Homie team member will be in touch with you shortly.

Sell Your Home For Free

For a limited time, Homie will sell your house for free if you buy your new home with us. On top of it all, you can still get up to $2,500 back to save even more money. Sign up to sell your home for free here!

Read more about Arizona real estate.

Arizona Real Estate Market Update: June 2020
The Best Time to Plan a Move in Arizona
The Top 5 Things to Make Your Home More Valuable in AZ

Source: homie.com

This Newly Built Hollywood Hills Home is a Modern Architectural Gem

Hollywood has a secret, and it’s located at 6902 Los Tilos Road on the Sunset Strip. Here lies a stunning 2019-built home designed by architect Marc Whipple of Whipple Russell Architects, that’s on the hunt for its very first owner.

The property is being marketed by Steven Rothstein and John Iglar of Douglas Elliman, with an asking price of $14.5 million. 

Conveniently situated on the glamorous Sunset Strip, in the Hollywood Hills West neighborhood of Los Angeles, the house is a modern architectural gem. Its design is a testament to Whipple’s clean-lined modernist approach, though the property still manages to exude warmth and comfort. 

luxury home 6902 los tilos road los angeles
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter

SEE ALSO: The Beverly House, where Jackie O & JFK Honeymooned and where Coppola Shot “The Godfather” Is No Easy Sell

luxury home 6902 los tilos road los angeles
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter

The property incorporates five bedrooms, six bathrooms, as well as two half-bathrooms. Walking onto the property for the first time, you’re guided through a private gate that reveals a bridge leading to the rooftop parking. Here, you’ll also get to enjoy breathtaking views spreading from the Hollywood sign right to the Pacific Ocean. 

The main entrance stairway or the elevator will lead you downstairs to the first level of the home, where you’ll enter a large, open space equipped with custom LEICHT-designed cabinetry, MIELE appliances, and Italian porcelain floors. This level also opens up to one of three terraces that total 5,000 additional square feet of outdoor living space. 

Moving further down to the middle level, there’s a second living room and three of the five bedrooms, including a luxurious ‘floating glass box’ master suite. All the bedrooms offer easy access to the infinity pool, which provides stunning views of the surroundings and a perfect setting to enjoy summer nights and sunsets in complete privacy. 

luxury home 6902 los tilos road los angeles
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter
luxury home 6902 los tilos road los angeles
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter
luxury home 6902 los tilos road los angeles
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter
luxury home 6902 los tilos road los angeles
6902 Los Tilos Rd, Los Angeles CA. Image credit: Jonathan Ducrest and Tom Hunter

The lower level of the Los Tilos home incorporates a home theater, a wine room, a gym, the remaining two bedrooms, as well as a beautiful garden patio. All three levels offer exquisite views of the Hollywood Hills.

If you’re interested to check out this fabulous home, be sure to reach out to Douglas Elliman and schedule a tour. It’s not too often that you get to be the first owner of a stunning, masterfully designed Hollywood mansion. 

In the meantime, you can take a virtual tour created by Marc Whipple and Whipple Russell Architects:

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More beautiful Los Angeles homes

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Who Would Have Thought that Jason Statham is a House Flipper? Here’s One of His Latest Projects
Scott Disick’s New Flip, a Stunning Contemporary Farmhouse, Hits the Market for $6.89 Million
You Can Now Buy Post Malone’s Beverly Hills Rental with a Wrap-around Pool that Overlooks the City

Source: fancypantshomes.com