Archive for the ‘Sellers’ Category

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Pre-Sale Renovation: Home Sellers Do’s and Don’ts

Tuesday, January 25th, 2011

In today’s market, expensive, pre-sale renovations, for the most part, aren’t worth it. In general, a home remodel will cost quite a bit more than you’ll get back when you sell.

Two of the areas that potential buyers are often more pressured to remodel before selling are the kitchen and the bathroom. Here are some tips for the kitchen:

Kitchen

  • Don’t put in expensive profession-grade cook’s appliances
  • Do, however, service the appliances you have so that they work perfectly. And if you have seriously outdated appliances that can be replaced for $1,000 or less, that’s a good idea. 
  • Don’t replace your cabinetry entirely even if it’s a little outdated. It’s too subjective.
  • Do invest in cabinet refacing if your cabinets are extremely outdated. Many refacing companies will give your cabinets a fresh facade for well under $2000.
  • Don’t go granite crazy Or marble. Spending thousands of dollars on a new countertp and backsplash is dangerous, as there are so many different options these days.
  • Do hire a professional cleaning company to come in and make what you have sparkle.

Here are other tips for redoing your kitchen frugally:

  • Declutter your counters. A disorganized kitchen is a buyer-deterrent. Clean up the counters and pare down countertop items to the essentials — toaster, microwave, coffee pot, and not much more than that.
  • Keep your pantry and cabinetry clutter-free too.

Hopefully these tips will help your home show better to potential buyers.

Posted in Home Improvements, Sellers | No Comments »

San Diego County Median Home Price Falls Slightly in December

Tuesday, January 18th, 2011

San Diego County housing prices dipped slightly in December, ending 2010 about where they were a year ago, DataQuick Informatio Systems reported on Jan. 17th. The overall December median price stood at $333,000, down from $335,000 in November and up slightly from $330,000 a year ago.

Many economists expect prices to remain relatively flat this year as the economy rebounds with job growth and consumer spending. Unlike in past recoveries, home buying is ot playing its historic role of jump-starting the economy because so many owners owe more than their homes are worth and cannot sell at a profit.

An Encinitas real estate broker said that overall median prices are falling while overall sales are rising because home buyers are doing more research into market prices and using that knowledge to haggle for lower prices. Sellers are now more likely to take those lower offers because fewer people are qualifying for loans dur to more stringent guidelines. “Buyers are more sophisticated than they used to be,” the Broker said. “They have access to more information.”

Meanwhile, the new-home marketwas up in December and the median price stood at $500,000, the second onth in a row it was at or above the half-million mark. That’s the first time in five years of back-to-back median prices at that level.

A Vice President of a Real Estate Consulting company said,” The best thing you can say is that pricing seems to be stabilizing.”

Posted in Buyers, Sellers | No Comments »

10 Staging Tips to Help Your Home Sell

Friday, March 19th, 2010

If you want to have a better chance of selling your house in Cardiff, Encinitas, Carlsbad, or Vista this spring, think of staging your house to make it as attractive as possible. Make this as simple as possible. Basically you want to strip the house to its bare essentials and depersonalize it so that potential buyers can imagine themselves and their lifestyle in your house.

Here are some tips:

1. Visit model homes and look through magazines to get some decorating ideas. You are staging for the general public, not for yourself.

2. Start with the outside. Give the house good curb appeal by painting it, adding new landscaping, and replacint the front door hardware if necessary.

3. Declutter each room to make it look larger. Put away family pictures, diplomas, trophies, and knickknacks.

4. Use eco-friendly but bright lights. Open the drapes and turn on all of the lights when showing.

5. Use just a few pieces of furniture with mainstream appeal.

6. Make sure that the primary use of a room or space is obviously. Make a bedroom look like a bedroom.

7. In bedrooms and kitchens, clear everything off the nightstand and hid the laundry basket.  Invest  in clean, matching towels in the bathrooms and kitchens.

8.Minimize any “pet effect.” Remove food bowls and litter boxes to a utility room. Deodorize thoroughly.

9. Organize the utility room and garage. Hang up the bikes and roll up the hose. Renting a storage locker is worth the cost if it helps you sell faster and for a higher price.

10. Once your house is ready, invite your friends or your realtor over to walk through to get a last objective opinion.

Good Luck and Happy Showing!

Posted in Sellers | 2 Comments »

Tips for Managing Your Credit Responsibly

Wednesday, March 3rd, 2010

New regulations from the Credit CARD (Card Accountability, Responsibility, and Disclosure) Act took effect on February 22, 2010. This act seeks to eliminate unfair practices and make the entire credit fee practice more transparent.

Here are 5 sensible tips to manage your credit card:

  1. Maintain prompt payment status with your credit card company.   Demonstrating that you can responsibly meet your current credit obligations is the number one behavior that will impact your standing with the credit card company and your credit score.
  2. Pay down high balances to improve credit card utilization.  This will show that you can responsibly manage your credit limit, minimizing the chance of higher tiers of interest rates or reductions in credit limit.
  3. Maintain activity on your credit card account. By using the revolving credit lines that you need or want to keep and promptly paying on them, you can help avoid cancellation of those credit card accounts.  Additionally, some credit card companies are introducing inactivity fees.
  4. Avoid fees through responsible spending habits. Credit card providers will likely look to recoup revenue by charging fees for extra services.
  5. New regulations do not apply to corporate or small business cards. This means some small business owners might consider using personal cards for business expenses because of fee and rate limitations.  However, these owners should remain cautious because their personal credit scores could suffer in the event of missed payments of defaults.

Manage and protect your credit to increase your purchasing power when buying a new home in Cardiff, Encinitas, Carlsbad, or Vista.

Posted in Buyers, Sellers | No Comments »

Should You Buy A Multi-Generational Home?

Wednesday, February 24th, 2010

According to a recent survey conducted by real estate professionals, in the last 12 months, more home buyers were looking to purchase homes to accommodate more than one generation of their family.

Survey respondents cited financial drivers as the number one reason why home buyers or sellers are moving into a house with other generations of their family. Other reasons cited were health care issues or a strong family bond. “With two or three generations living under one roof, families often experience more flexible schedules, quality time with one another, and can better juggle childcare and eldercare.

Communicating with family members and consulting with real estate professionals is also important. “Talk to everyone involved and determine how comfortable the family members are about sharing bathrooms, office space, or common areas.”

Here are some helpful hints if you are thinking about buying a multi-generational home:

  • If you are a seller with a granny flat or additional spaces on your propety that could accommodate a family, be sure to highlight that when you market your house.
  • Buyers should make a list of their exact needs. You may just want an extra bedroom or two, or you may require areas with a separate kitchen, entrance, or a larger garage.
  • Extended families purchasing a home together should consider signing a writeen contract outlining everything from finances to chores and childcare. Each family should assess their situation individually and find a plan that works best for them.

Posted in Buyers, Over-55 Buyers, Sellers | 1 Comment »

GOOD NEWS: Home Equity Is Rising Again

Sunday, February 21st, 2010

The Fereal Reserve condicts substantial research on mortgage balances and home-value changes in hundreds of local markets nationwide and reports its findings quarterly. According to the Fed’s most recent flow of funds survey, homeowners’ net equity increased by nearly $1 trillion compared with the recession’s lowest point between the first and third quarters of 2009.  From June 30 to September 30, net equity rose by $418 billion.

According to a report by Zillow.com, the overall negative equity rate among U. S. homeowners remained flat in the fourth quarter at 21.4 percent. This report, combined with other housing factors and studies, may indicate the reduction in home equity is shifting.

Posted in Sellers | No Comments »

Home Prices in San Diego County Rise in August, but Number of Sales is Down

Tuesday, September 15th, 2009

On Tues., Sept. 15th, the San Diego Union Tribune reports that median home prices in San Diego County rose to $325,000 in August, and this marks the fifth straight month of an increase. Analysts say that they hope this means the market is stabilizing, but it does not mean that all homes are regaining the value they have lost.

The higher numbers may also mean that fewer distressed properties (short sales and foreclosures) closed escrow last month. These lower priced homes are moving slowly through the market, and escrows are often long waiting for bank approval. Sales were down 13.2 percent this month, representing 980 foreclosure properties closing in August compared to 1320 properties in July.

The inventory of active listing on the MLS stands at 8462 — about a two-month supply at current selling rates. Usually that kind of tight number represents a seller’s market where multiple offers are received on a property and the offers are above list price. This is indeed the case for properties sold as short sales or foreclosures. But above a selling price of $400,000, sales are slow even though there is a low inventory.

Another possible factor contributing to lower sales activity is the lower availability of federal and state home buyer tax credits. The $10,000 state tax credits for new-home buyers were largely over by the end of June. The $8000 federal tax credit for first-time buyers expires on Nov. 30th.  It’s getting almost too late for first-time buyers to find a property, get financing, and close escrow before the deadline.

Analysts hope that a rebound in home values is coming, but it will still be slow.

Posted in Buyers, First-Time Buyers, Sellers | No Comments »

Zillow Survey Reports that Home Owners are more Optimistic

Monday, September 14th, 2009

Four times a year, Zillow conducts a survey to find out how homeowners perceive the values of their homes and what they think the future will bring. Zillow wants to know how realistic homeowners are about the current values of their homes.

Since we are in such a huge housing recesiion, it’s always interesting to see how it’s perceived by current homeowners. Are they realistic about the current value of their home?  Are they in denial and seeing the value as it was two or three years ago? This quarter’s survey, according to Zillow, says that homeowners are slowly becoming more realistic about the current situation, but are hopeful about values turning around soon.

Just like other quarters, more homeowners agree that the value of their home has declined over the past year. Survey results show that 60% think the value of their home has decreased. According to Zillow, actually 83% of U.S. homes decreased in value over the past year.

Zillow also reports a growing optimism that home values will not continue to decline in the six months ahead. 81% of homeowners think that the value of their home will stay the same or increase.

Posted in Sellers | 1 Comment »

If You Have Received a Notice of Default

Sunday, September 13th, 2009

If you have missed a certain number of mortgage payments, the bank will issue you a Notice of Default on your home.  You then have approximately 90 days from the date of Notice of Default until the bank issues you an Auction Date for your property.

The notice of Auction Date comes from the bank 3 weeks before they are selling your property. Once your property is sold by the bank, you have 72 hours to leave the property.

When you receive a Notice of Default, you have options available to postpone your auction date and prevent foreclosure. You should talk to a reliable tax and bankruptcy professional who will explain t o you the various legal and credit ramifications that you face.

You may want to talk to a professional loan modification expert to identify your options and see if you qualify for a loan modification.

If it makes sense to list your house as a short sale, choose an ethical, knowledgeable, and experienced profession such as Marilyn Dashe and the Short Sale team at Century 21 Sea Coast in Encinitas to help you. They can explain the short sale option to you and let you know how they can postpone your auctions date with very little inconvenience to you.

Posted in Homes Foreclosure, Sellers, Short Sales | No Comments »

If You Have Received a Notice of Default

Thursday, August 27th, 2009

If you are one of many homeowners right now who have received a Notice of Default on your loan, please understand that you have options and that foreclosure is only one of those.

At Century 21 Sea Coast, in Encinitas , California, we have a team of experts who can explain your options to you and can help you choose the best way to solve your problems. If you are working with a lawyer on a loan modification, we can help you through the paperwork and answer any questions for you.

If you have decided that a loan modification is not the best answer for you, let us at Century 21 Sea Coast list your house as a Short Sale. Agents like Marilyn Dashe at Century 21 Sea Coast is experienced with helping both buyers and sellers with short sales. Our team has 100% success rate this year in getting short sales approved by the bank. And we can do it sometimes in record time (60 days or under to close the escrow).

We know the paperwork that the bank needs and we know how to present it to them. We are persistent in our follow-up and we can reach the property negotiators very quickly.

If you are having problems with your home and would like to discuss your options, please contact Marilyn Dashe at Century 21 Sea Coast in Encinitas to discuss what to do next. Marilyn Dashe serves buyers and sellers in Encinitas, Cardiff, Carlsbad, Vista, and San Marcos. We look forward to being in touch!

Posted in Buyers, Sellers, Short Sales | 1 Comment »

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