My New Outside Blog

Things to Know Before Buying Your First Home in Palos Verdes

1. The cost  of owning a home is more than simply the purchase price. There are several monthly fees and expenses in addition to your monthly mortgage payment that you need to be prepared for. This includes insurance, property taxes, utilities, and maintenance. However, the costs associated with owning your first home are bearable. 

2. Programs are out there for first-time buyers. A significant down payment is never a bad investment- it gives you instant home equity and a lower monthly payment. But, if you can't manage to get a larger down payment, you don't have to give up your dream of home ownership. There are many federal, state, and local programs dedicated to helping first-time homebuyers with down payments, interest rates and loan terms. 

3. Foreclosures and short sales can be great deals but proceed with caution. Many homebuyers have gotten great deals on these types of homes. However, buying a foreclosure or short sale can come with some red flags. Most of these homes are sold "as-is." Since maintenance isn't always a top priority for homeowners facing foreclosure, these properties may need a significant amount of work. With short sales, transactions are lengthy and more complicated than a typical home purchase.

4. Getting pre-approved for a loan gives you more buying power. Before you begin your house hunt, be sure you have a pre-approved letter which proves that a lender has offered you a specific mortgage. This is important because it establishes your maximum purchase price, shows sellers you're serious about buying, and if you get pre-approved by several lenders you can compare interest rates and terms to find the best deal.

5. School districts can affect property value. Even if you don't have kids, buying a home near good school districts can help your home's resale value. The most important aspect of a home's value is the neighborhood it's in. If you cannot afford these neighborhoods, look for fixer-uppers in the area. They may need work but they will have built-in property value.

6. Do your homework to help make a competitive offer. Before you make an offer on a home, crunch the numbers to figure out the property's market value. Have your agent do a comparative market analysis where he or she will compare the home you want to buy to recently sold homes in the area with the same square footage, construction, age, etc. The analysis will show you what buyers were willing to pay for similar homes in your neighborhood giving you a good starting point.

 

 

 

 

Both top producers within their company and within the Palos Verdes Board of Realtors, Frank and Heidi provide a real estate background of excellence to their clients. Contact us today to get started. 

Visit Palos Verdes Homes and Real Estate for more information about us and search current listings in the South Bay area. 

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Frank Fountain

DRE # 01193674

Phone: 310.990.9652

Heidi Mackenbach
DRE #1071319
Phone: 310.971.0970

       

  

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  Bring on the Sellabrations...the Buyers are Out ...the Buyers are Out !  It was an exciting weekend with multiple offers on several well priced properties.....and as you browse through MLS you see the "Active with Offer" indicators everywhere...HURRAY !!!

   Homes all dressed up and ready to sell...priced at appraisable prices...ARE selling....a wonderful welcome to spring...and a boost in recovery to the market.

    Along with the wonderful offers....written by agents and buyers who understand that some homes...even those recently listed ....ARE priced to SELL and not to sit....and with that in mind, got out their pens and put their money where there House is...or will be....and wrote an offer like they meant it.

      Then......there were some offers....where both buyers and agents used the "plucked from thin air" price approach....an insult to the Sellers....an effort to steal...despite the agent being that multiple offers would be presented.  Yes, yes...we know...the agent is "just the messenger"....they have to write what the buyer demands. 

     One offer was especially low....on a property that had not been on the market less than a week....maybe the agent didn't get the message we left...So I emailed again....politely and professionally...."Did you know that there are multiple offers on this property that will be presented tomorrow ?
    The contract indicated that the agent was a Buyer's agent...."Yes...." he replied promptly..."They wrote for what the property was worth."  Hmmmm....I checked the agent's sales production in MLS....one house sold in the last year....outside of the four county area at a very low price....With multiple offers, the Sellers elected not to respond to the offer and chose one that was well written with a solid price supported by documented financing and earnest money.

     Everyone is entitled to their opinion....best to assist the buyer with the facts...comparable homes that have sold...Whether you work under contract with a buyer as an agent...OR you are a Buyer working with an agent...thin air prices are not the buying mode of the day.  Just as a Seller may examine the sales record of an agent who will list a home...it's a good idea to learn the experience of an agent that is writing an offer.

         Some People Are MIS-READING this BLOG...ALL OFFERS ARE ALWAYS PRESENTED - the Response is the

     CHOICE OF THE SELLER....On with the Blog...

                                        If you really want to own/sell a home.....why risk insulting the Seller....losing a house you really want to call home...Take the advice of an agent that has successful experience.....and live happily ever after.

              If you are looking to live happily ever after in southeastern Wisconsin...call the Hansons...we are proud to be your ambassadors to the state we have called home for a lifetime....and know you will too.

 

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

 

Pigs Get Fat, Hogs Get Slaughter

This idiom, as defined by usingenglish.com, is used to express being satisfied with enough, in contrast to be greedy and having it become your undoing. This is a lesson which many sellers and buyers of real estate in Lancaster, PA have had to learn.

I have looked back over two deals which have gone south because the seller was a hog (metaphorically, not actually). I represented the buyer in both situations.

In the first deal, I had been working with my buyers for a period of time and this home was everything they wanted. Our offer was accepted and the inspection contingency fulfilled. We were waiting to move forward when the appraisal was completed. One problem, the property appraised $15,000 lower than our offer. It was a split-level and finding comparables was quite difficult. The seller was not willing to budge. We were under contract at $335,000 and he would take no less than $325,000. My buyers said, “No, thank-you!” I checked to see what this home sold for and noticed it closed at $315,000. This seller learned a $5000 lesson at a minimum.

The second deal was under contract for $232,500. The inspections noted some concerns regarding the age of the heating system and some work that needed to be completed. In trying to negotiate a suitable arrangement, my buyer basically stated, “I will be satisfied if I can get $5000 towards repairs.” Again the seller was unwilling to budge. This home later sold for $214,000, a $13,000 decision.

If you are a seller of real estate, it is important that a good, strong offer in your hand is often one you need to negotiate to keep together. Do not learn the lesson, “Pigs get fat, hogs get slaughtered!”

 

 

 

An agent who places your interests as his first priority. 
Cal Yoder

Your Homes for Sale in Lancaster Agent

Keller Williams Realty Lancaster

1630 Manheim Pike

Lancaster, PA 17601

Office Phone: 717-735-1145

Cell Phone: 717-413-0744

                      

  

 

 

 

You can find great local Lititz, PA real estate information on Localism.com The Living in Lancaster Group - Cal Yoder            717.413.0744       is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

"I had lots of showings but no offers." I hear those words time and time again as I talk to sellers with recently expired listings. Most of the time they blame their agent for not generating an offer.

One of the primary roles of a listing agent is to market the property and drive traffic into the home. In my opinion it starts with great photography and getting all the details of the property into the marketing machine.

When I look at many expired listings I see poor or no photos and incomplete or minimal details available online. Most of the time the sellers of those properties are not complaining about a lack of an offer but a lack of showings as well.

Show me a home with lots of showings but no offers and I'll argue its simply overpriced or not properly prepared. Lowering the price is one way to overcome this issue but it may not be the only way.

Purchasing a home is an emotional decision. While the marketing may be driving traffic in the door, the home may not create the emotion needed to generate an offer. Creating emotion means appealing to the senses--sight, smell, and sound. New home builders model homes are a great example of the ability to create emotion. They appeal to all the senses.

While many sellers may be able to recreate the look of a new home model, many people should consider professional staging. In the Dallas market, the cost is often under $300 for a few hours of a stager's time. $300 is nothing compared to your first price reduction and can make the difference in getting the property sold.

Locally, the first part of 2012 has seen a return to a seller's market with less that 3.5 months of inventory of homes under $500k. Homes that properly prepared, show-ready, and priced correctly are flying off the market.

If you're on the market and getting lots of showings but no offers, it's not marketing...

Photo Copyright 2009 The Branch Team

Origianlly posted at http://www.thebranchteam.com/wordpress/2012/03/18/lots-of-showings-but-no-offers/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

                   

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Do you hear what I hear?  Buying decisions are emotional.  Marketers have studied this for years and one thing we know for sure, if we want to stimulate the buying response, we need to tap into buyers' EMOTIONS.  

Home sellers can tap into the emotions of their prospects, simply by employing a little psychology and appealing to the 5 senses. In Love at First Sight I shared how to trigger the buying response by appealing to buyers' sense of sight.  EVERYTHING a buyer sees AND EVERYWHERE a buyer looks in your home has the potential to stimulate a positive [or negative] emotion. In Common Scents I discussed how the way a house smells can either attract or repel your home buying prospects. Today I will share how to engage buyers' sense of hearing.

So what does your house sound like? If its something you've never thought much about, then now is a really good time to consider - what will your buyers hear [and possibly be distracted by] when they enter your home? 

Is your home peaceful and tranquil? If you live on a quiet country road where all you can hear are the birds singing off in the distance - then do what you can to maximize this wonderful selling feature.  Avoid playing loud or distracting music and keep the TV off while your house is being shown.  

Do you live on a busy street with cars and trucks whizzing by at all hours?  Do you live near railroad tracks or an airport? Even though you might have grown accustomed to it, traffic noise can be a huge turn off to potential buyers. Your Realtor might even suggest pricing your house lower to reflect this negative feature. Even if your house is priced appropriately, there's still more you can do to overcome this obstacle. Jeannette Fisher, author of the book Design Psychology for Redesign and Home Staging offers some suggestions..... 

You can try masking the street noise or the sound of your neighbor's barking dog by introducing other sounds, always taking into consideration your selling season. Water falls and oscillating fans contribute a welcome feeling of coolness on a hot summer day, while crackling fires add a feeling of warmth and relaxation when it's cold. And a bubbling water fountain or soft wind chimes can offer the feeling of peace and tranquility in any season. 

Playing music can also help to mask the unappealing noise around you, but be sure you consider your target buyer's taste when making your selection. Playing soft background music can relax and lift the spirits of your prospects as they hum along to a familiar tune. If you have a spa in your house, you may want to consider playing a CD of the sounds of the rainforest to convey the feeling of a luxurious tropical escape.  But don't get carried away.  Avoid playing loud music which can be jarring and too much of a distraction. 

In my next post I will be discussing ways to engage the sense of touch.....

 

                                                          

 

Karen Bernetti is a Real Estate Stager, Former Realtor®, Author, Speaker, and Owner of Staging4Smooth Transitions - specializing in assisting seniors with their downsize moves.  

Karen is also the Co-creator of the Ready2Sellin30Days® System - an innovative, interactive, multi-media educational program designed to teach do-it-yourself homeowners EVERYTHING they need to know about preparing a home for sale during tough economic times.  Visit www.Ready2Sellin30Days.com to learn more. 

Stay up to date on all the latest real estate staging and home decor trends with The Home Sale Success with Karen & Ann Blog!  Sign up here to receive The Home Sale Success with Karen & Ann Newsletter!

Call 860-302-0333 for more information.

A HUGE Lesson for a Listing Agent AND Expensive!

We are down to the wire with a closing this week.  This has been a long escrow period yet everything on my Buyer's side has been smooth as silk.  Her Lender has kept everyone in the loop and the communication has been great.

So we are down to the final week and the agreed upon repairs per the Amendment are just not right.  The receipts that were provided are generic at best and upon further investigation, the contractors are NOT licensed.  My Buyer of whom is extremely thorough and has every right to be did some investigation and did indeed verify through the state that the electrician and the plumber were not licensed.

The electrical and plumbing issues were both safety related which now really raises some concern.  Through our investigation we discovered that the Sellers have moved out of state and therefore the Listing Agent has been given the task of arranging the contractors and making sure the repairs were done.

The Listing Agent told me that she took the Amendment to the house and showed it to the contractors so they could complete the work. 

 

Here are the concerns:

1. The Amendment will say something like this:  "Per the Inspection Report in Exhibit A. item I. G. Electrical panel repaired and or replaced."  Unless the contractor has the ACTUAL Inspection Report which clearly shows the item and explains fully the repair needed, the contractor will have NO idea what to do.
2. The Listing Agent is now the one responsible for making sure that the contractors SHE hires are properly certified or licensed.
3. She has had the Amendment for the repairs for 2 months and waited until the week before closing to get them done.

In Texas, we have a new clause in our contracts.  It clearly states that ALL repairs by the Seller shall be done prior to closing and to be performed by persons who are LICENSED!  If not completed properly or at all the Buyer can extend the closing up to 15 days in order for them to be done properly.

When I mentioned this to the Listing Agent, her comment was and I quote, "Oh, well I used an OLD contract that did not have that in it."  OMG!  First of all, I prepared this contract and YES it is in there. Secondly, we are ALL responsible to use current, up-to-date contracts!

She then continues to dig the hole deeper by saying that in all the 20 years she has been doing real estate, she has NEVER asked for license numbers from any contractors.  Furthermore, she says that my client is anal and being difficult!  Really?

Now this agent clearly is finding her panty hose in a twist for sure!  Rather than admit she did things incorrectly, she continues to try and get out of this mess by putting the blame on everyone else.  Sometimes we just have to stand up and admit that we are wrong and make it right.

My client has every right to want the work done on their future home done correctly and safely.  No question about it.  And they do have the right to ask for the extended closing period of which the other agent is against as she put it.

I know this is long but the IMPORTANT MESSAGE IS THIS:

• If you are a listing agent and arranging repairs for your Seller, be careful and make sure you are using bonafide, certified and licensed contractors!
• KNOW YOUR CONTRACTS!  There is no excuse for any agent in this business to NOT know the content of a contract.
• Be prepared to pay for the correct repairs using the correct contractors at YOUR cost if you are having to do the repairs all over again.  You told your Seller you would take care of the items and the contract clearly states using licensed individuals.

I don't know how this will pan out but will keep you posted!

Paula L. McDonald ~ REALTOR^®

Broker ~ Managing Principal

        9595 Six Pines Drive, Suite 8210 ~ The Woodlands, TX  77380 ~ 936-203-0279

Selling The Woodlands real estate and surrounding areas!

Paula@ChevauxGroup.com

 

Copyright 2011 Paula Hamilton~McDonald

Karma, baby!  I'm firm believer in sowing and reaping.  That's one of the main reasons I rarely stay mad very long when someone does something that dings me.  That's also why I couldn't wait to get back to office to write this blog.

Yesterday, I wrote a blog about a customer who was using multiple agents to get into a house.  She called this morning complaining that the other agent, who was graciously carting her around, had not found anything.  I told her I couldn't help her.  I explained that I would not work with someone who was using multiple agents.  I shared how we get paid, and I tried to help her understand that the other agent also deserved a paycheck.  So, I declined her request.

She called back later.  Apologized for using multiple agents and asked if I would pick up the search again.  Ironically, I had just done a search for my second customer of the day, and I had found a house for this lady in the same neighborhood.  I told her I had two customers ahead of her, but I would be in the area after lunch and I would call her then.

I went to my second showing appointment, and bang, this multi-agent woman's car was parked in front of it.  She was inside talking to the listing agent.  So much for being loyal, but there was a fly in the ointment this time.  I had called the listing agent earlier and told him I would be up there after lunch and would like to show his property to my second customer.

My second customer was late, so it gave me a few minutes to go in and see what was going on.  When I walked inside, the woman looked stunned to see me.  I'm sure she didn't think I would just show up out of the clear blue.  What she didn't realize was that I was there to show this house to my second customer, not her. 

When I walked in, the listing agent said, "Ah, there you are.  Let's get started."  He didn't realize that I had set up an appointment for my second customer and not for this lady.  I had told this woman about the unit, and I promised that I would show it to her after I met with my second customer.  She was impatient and  jumped ahead and was filling out a contract.  But, because I was the procuring cause, the listing agent passed the contract on to me.  He was a true professional.  

About that time, my second appointment showed up.  I was in a different vehicle this time, so customer # 2 didn't realize I was already there.  I went out and told her that someone else was filling out a contract right then, but there was another home right down the street that met her criteria.  I went back in and asked the listing agent if he minded if I went down the block to look at another house while the customer read through the contract, and he was fine with that.

I met customer # 2 at that house down the street, and she fell in love with it.  It's a much better home, and I'm thrilled that she loved it.  We're doing a contract on that one at 5:00 pm today.  So, I'll get commissions on both houses.  Karma, baby!  Karma!

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5. Passion is contagious - Infect somebody!

6. Winchester, Virginia is a great place to buy a house at great discount!

7. This simple electrical test could save your life.

8. Turn setbacks into springboards

9. Reduce your mortgage by pre-paying principle and eliminating interest

10. What can I do to sell my home more quickly?

********************************************************************************

Give me a call for all your real estate needs, and let's make something amazing happen. 

Mike Cooper @ Cornerstone Business Group, Inc., 888-722-6029

Real Estate Sales and Property Management

 

(Disclaimer:  All grammatical mistakes, punctuation breakdowns and misspellings are purely for your amusement and entertainment.  Feel free to cackle.)

Mr. & Mrs. Seller, I Have Already Reduced My Commission 50%!  And You Want More?

 

I heard this request again yesterday!  It usually begins something like this.  “My house has lost so much and you want me to sell for even less.  I have this much invested and I NEED this much.  You need to reduce your commission.” 

My response.  You know Mr. & Mrs. Seller, I also feel your pain.  My home is worth less than one-half of what I paid for it 6 years ago.  However, the bank has not reduced its principal or interest rate.

 

So I can understand how you feel, now that your home is worth one-half as well.  But because you home is worth one-half, my commission has reduced by one-half.

 

However, did my costs decrease by one-half?  No!  Unfortunately almost all my costs have increased, especially the cost of gas to show buyer’s your home!

 

I know times are tough if you are a home seller.  But trust me, times are tough for me your Realtor® as well.  I am working much harder, and making less than half of what I made a few years ago.  That is not your fault and it is not my fault either.

 

Let’s just sign the contract Mr. & Mrs. Seller, so we can get your house sold and move on with your lives.

 

 

 

 

 

Join Active Rain

 

Can he sell it?  Yes he can!

 

 

 

352-547-1074

 

Bob@bobtherealtor.net

 

 

 

Bob the Realtor

 

 

Spring Break is a few weeks away and the norm for our business is people start looking for their new home, whether they are up sizing, downsizing or relocating.  So here we are with all these new listings, which is wonderful!  

In the past I have blogged about different things you can do to make a home more attractive to a buyer, but one thing that I have not addressed is YOU!

We love our Sellers, but there are a few etiquette rules we need you to know. 

The first and most important is when you receive an appointment for your home to be shown, please leave.  I know you know your home better than anyone, but the buyers want to see themselves in the home.  This will be a little hard if they feel that they are being stalked by the home owner.  They will not feel comfortable to open cabinets, closets and make comments to each other and their agent as well.  So now is the time for you to head out to the local Starbucks or take your pet for a walk.  

Second, your comments about your home could be used against you!  The buyer might

 not appreciate that the next door neighbor has the cutest little dog that greets you every morning as you go out to get your paper or that the teen on the end of the street has nightly parties and you can't wait until you move.  You don't mean to say things that could be taken negatively, but it happens.  

Third, we know that sometimes you really don't get the notice that you needed to get your house in order, you were out at Little League or over at Grandma's when the call came and there was no way to get to the house and get it picked up before the appointment. So this is when you just have to have an agreement with everyone that lives in the house that the basic clutter is picked up and everything has had a quick wipe down before you ever leave. Think about how you feel when you walk into a cluttered home, do you see the house or the clutter?

And remember throwing everything into drawers, cabinets and closets really doesn't work:)  The buyers will be opening those too.  The best case scenario is to get rid of all the clutter that you don't need on a daily basis, pack it up, give it away, store it somewhere until you move.  Pack up out of season clothes and extra toys.  All of these things will help your home seem bigger and more inviting. 

Remember the goal is to sell your home, not necessarily to live your most comfortable life.  Hopefully it will be short term. The best advice I can give you is to remember once you put your home on the market, it is no longer a home, but a House For Sale!

 

 

 

Amy Boehm

The Boehm Team

Realtor, ABR, CRS, ALHS, CLHMS

Keller Williams Realty

     

 

I just came across an article called 10 Things Your Real Estate Agent Won't Tell You published on womansday.com. Ms. Sarah Stebbins, a free lance writer, seems to have cobbled together negative bits and pieces from other works, including the The Home Buying Kit For Dummies. I am disappointed that a respectable organization like Woman's Day would publish this inaccurate and misleading article.

Some of unpleasant and just plain offensive lines:

"An agent who wants to make a quick sale might not share information a buyer could find unappealing about the neighborhood, like an office building going up on the street, or a registered sex offender who lives a few houses down."

"Moe Veissi, president of the National Association of Realtors and a broker in Miami, suggests asking realtors about area schools, crime statistics, parks, hospitals and whatever else is important to you..."

"Still, it’s a good idea to ask directly about upcoming construction projects and the proximity of sex offenders before closing a deal."

Brokerages offer agents a bigger cut of the commission if they sell in-house listings, says Tyson."

It’s common for a listing agent to let other brokers at his firm know about a “hot new property” before posting it in the multiple listing service....He gets a better commission split if he lines up an in-house agent.”

My comment on the article:

Ms. Stebbins you apparently have credentials as a magazine editor (Martha Stewart Weddings and Instyle) and freelance writer (Glamour, Women's Health), but your lack of understanding of the role of a professional Realtor® is astonishing.

We all have bad experiences with people in every job, from physicians to accountants to dog groomers, but respectable professionals rarely make the mistake of condemning entire groups based on a few bad experiences. 

In this difficult housing market, with millions  of homeowners still struggling to make tough decisions, it is discouraging that a respected publication like Woman's Day would publish such a one-sided and negative article.  I will comment on just a few of the issues raised:

I don't know a single firm in the Chicago metro area that pays agents more to sell in-house listings. At the suggestion of the IL Association of Realtors®, most firms do separate long term (10 years in IL) record keeping fees from sales commission. The record keeping cost is the same regardless of the sales price of the house, and should not be variable the way commission is.

I sincerely doubt that Moe Veissi suggested you ask a realtor (sic) about schools and crime statistics: by law we are not allowed to provide many types of information. And what exactly is a Realtor® supposed to know about hospitals?

Ms. Stebbins, if you ever want to talk to real clients -- rather picking over the bones of other people's work -- I could give you the names of 100s of agents and brokers who would happily give you many, many clients to talk to. 

And could you let us know if you work for free, as a free-lance writer? Or do you, too, work on commission?

Finally, Realtor®  is a trademark of the National Association of Realtors® and is not interchangeable with the term real estate agent.

This post was written by Leslie Ebersole of Baird & Warner Real Estate.
Use or reproduction of the material published on this site is expressly prohibited
without the express written permission of the author.

 

 

My Email leslie.ebersole@bairdwarner.com

My Mobile (630)945-7935