Real Estate Blog
Even in a hot real estate market, some sellers have to face the reality that they overpriced their home.
“A man’s home is his castle,” as the old saying goes. In some cases, homeowners are convinced that their property is worth “royal” proportions. It’s a
tough thing sometimes to be hit with the reality that the going rate may be something less than they might think. Not that the market isn’t great, but perhaps it’s because the owner doesn’t understand how homes are priced, and the philosophy behind Fair Market Value.
The Simple Home Selling Strategy
The simple strategy is very straightforward, and works every time: Don’t price your home high, and hope to get offers that you can then negotiate because it’ll never happen.
Instead, price your home AT or even BELOW Fair Market Value, and buyers will beat a path to your door. Remember, you don’t have to sell your home for the listing price. It’s totally up to you to accept, reject, or counter any offer. In the case of multiple offers however, you then have more control over the final selling price. Continue reading
Whether you’re buying a home, or selling, almost anything is negotiable.
Uninformed buyers and sellers may fall into the trap of believing that a deal has standard fees that each are responsible for. However, depending on the situation and your negotiation skills, any part of the home purchase agreement may be open for negotiation, as long as it’s legally binding and enforceable, and is agreed upon IN WRITING by both parties.
3 Tips To Great Real Estate Negotiating
Be realistic in your approach. Continue reading
Interest rates remain steady in light of economic numbers. Great news for home buyers.
This is great news for both home buyers and home sellers. First of all, with mortgage rates still holding at below 4 percent, qualified home buyers have access to greater purchasing power that can equate to either a higher loan value or lower mortgage payments.
Sellers of course benefit from this news as well, as more qualified buyers means the potential for more offers on their home. It’s a win-win! Continue reading
When selling your home, you should step outside yourself and see your home through a buyer’s eyes.
You’ve lived in your home for a while, and you’ve completely made it your own starting the day you purchased and moved in. You added the custom bar with the built-in beer taps. Or perhaps you converted that downstairs bedroom into a soundproof media room complete with 80 inch screen, built in theater seats, and the latest surround sound system out there.
Maybe you took that third car part of your three car garage, and turned it into the ultimate indoor-outdoor “man cave,” with a mounted flat screen TV, pool table, and customized workbench.
Finally, you installed that customized, high end, ginormous jungle gym/swingset/trampoline for your kids that takes up half of the backyard.
These are all wonderful things that some sellers do in an effort to make their home more…”homey.” After all, our home IS our castle, right? Continue reading
Top 3 reasons why you SHOULDN’T try to sell your own home.
Homes seem to be selling left and right. It seems simple enough, right? Put a sign in your yard, or place an ad on theinternet, and just wait for those buyers to beat a path to your door. BUT, if you have no experience outside of buying your own home, what do you really know about getting top dollar in this market?
What do you know about pricing your home to sell?
Pricing a home to sell has little to do with what YOU think it’s worth. Rather selling price revolves largely around what comparable homes have sold for recently in your area. Some sellers take the emotional route in pricing their home outside of realistic numbers, so their property languishes on the market much longer than it needs to. Continue reading
Everyone wants their ideal dream house, but make sure that dream is dosed with a pinch of reality.
When it comes to real estate, what’s your dream? When you imagine yourself living in your ideal home, what is it you feel will most make you happy? Lastly, when dreaming, are you keeping in mind the reality of your wishes?
Many buyers imagine they want certain things, additions, perks, and upgrades in a home, without considering the other end of maintenance, expense, and convenience.
Here are 5 things to consider that may help you avoid ” home buyer’s remorse” down the road.
Many people make money buying and selling real estate, but how do you do it without a huge amount of risk?
Sounds easy, doesn’t it? You buy a home, fix it up, then turn it around and sell it at a profit? How hard can it be? Well, depending on how much (or little) you know, you may end up with an investment that doesn’t pan out. Here are a few tips to consider before attempting to make money from “flipping” houses.
What is a “flip” anyway?
To “flip” a house means that you purchase a home, and quickly resell it at a profit. Now in some cases, with the market on the rise, you might get lucky and purchase a home whose value has increased even before escrow has closed. This isn’t always the case, and the risk involved in playing that game can be pretty high. Continue reading
Santa Clarita Real Estate Market Shows No Signs of Slowing in 2016
New data released by the Southland Regional Association of Realtors provided year end information about the Santa Clarita real estate market, showing significant gains in equity for SCV home owners.
Single family homeowners showed an average of 8.1 percent in home value increases, with condo owners increasing their equity by an average of just over 12 percent.
Despite a rise in Federal interest rates, mortgage rates continue to remain at nearly historic lows, which is helping to drive sales into the new year.
Sellers Still Enjoying Brisk Transactions
New year, new real estate market? Or are we still swimming along at the same speed?
First, as we’ve been talking about interest rates and the hike by the Federal Reserve last month, we’ve really seen no changes in mortgage rates. In fact, they’ve slipped back down below four percent. So why haven’t rates jumped for home buyers and refinancers yet?
Good question! One thing we have to remember is that the rate the Fed raised is for money borrowed BY lending institutions, and they only raised their rates by .25%. That’s not the only issue that drives interest rates, however. As a traded stock commodity, mortgage-backed securities, and their relative trading prices, help to determine rates as well. Continue reading
Is this a sign of doom and gloom for the real estate industry? Or are better things yet to come as a result?
Yes, we’ve talked about this for a while, as has the Federal Reserve. The last time rates were touched by the Fed was in light of the near collapse as a result of the recession back in 2008. Since then, lenders have had the pleasure of borrowing money (Which they then turn around and loan to consumers) at nearly zero percent. Many analysts believe that this has helped maintain and grow real estate value.
However, nearly zero rates and an every recovering (and prospering) economy can give rise to inflation…something nobody wants. The Federal Reserve has been very “reserved” in making changes to what’s been a “good thing” for nearly a decade, and for the past year, we’ve all held our breath as to whether they’d finally pull the trigger.
Finally this week, the Fed deemed the economy strong enough to be ready for a rate hike in keeping with the strategy of holding inflation at bay. Their base rate will rise a quarter percent…for now. Continue reading