Archive for April, 2017

Home Buyers May Not See All Active Listings Online

Tuesday, April 25th, 2017

If you are a home buyer or plan to buy or sell in the future, and if you are using a third party website online to look at inventory: Beware. Zillow and Trulia, two of the biggest third party consumer property websites in the industry, have recently changed their policies. This means that there are listings that may not ever show up on their sites – bad news for buyers, sellers and real estate agents.

Zillow announced to all agents that effective May 1 agents will no longer be able to manually upload listings to their sites (Zillow and Trulia). Since many MLSs around the country do not have agreements with Zillow to automatically transfer listing data (Sandicor, the San Diego MLS, included), the only way for listings to get on Zillow/Trulia after May 1 will be for each brokerage to have an agreement with the company. With so many brokerages many may not pursue such agreements.

This could hurt buyers worst of all, as those who are not working with real estate agents (who rely on the MLS for property data – the best and original source) may miss out on new listings. In a market with low inventory and multiple offer situations popping up, a buyer could lose out on purchasing homes.

Although this new rule is supposed to roll out on May 1, Zillow seems to not have waited that long. I had a listing that disappeared from the sites last week. I had to apply to my MLS to provide me with a number I can share with Zillow that will allow it to capture my future listings. But the process can take 7-10 business days – just enough time for a buyer to completely lose out on seeing and making an offer on a great home, and there are likely agents who do not realize their listings will or have disappeared.

My advice to buyers it to use only MLS sites – this means having an agent set up a search for you directly from the MLS. You can access that search and do a reverse search, which will allow you to see other listings. If you must use a third party site, I recommend Redfin, as they somehow pull from MLSs, and their data is updated almost instantly. They also provide more accurate value estimates on properties, in my opinion.

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The Best Time To Sell a House Starts May 1!

Tuesday, April 18th, 2017

Sellers get ready! Not only are we about to embark on the busy Spring/Summer selling season in real estate – which actually seems to be well under way – but according to Zillow we are entering the best 2 weeks out of the entire year to sell a home.

Zillow reports that the period between May 1-15 is the BEST time of the year in which to sell a home. The study found that homes which sell during this time sell on average 18.5 days faster and for more money (1% more than the average listing).

It is important to note that some areas may have different results, so I suggest contacting an experienced agent in your neighborhood/surrounding areas to find out when the best time to list your home may be, and how the market is doing.

In Carlsbad CA for example, the market is currently very hot. Many homes are getting multiple offers and inventory is historically low, so desirable homes are selling quickly.  Buyers are waiting for homes to pop up in certain neighborhoods; I get many phone calls from agents asking if I know of any upcoming sales in a neighborhood in which I have sold many houses.

The bottom line is that if you are considering selling your home, now is one of the best times to do so. There is a healthy buyer pool out there so contact an experienced agent and find out what you need to do to be sale-ready.

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The Unwritten Rule All Listing Agents Need to Follow (Sellers: Take Note)

Thursday, April 13th, 2017

If you are a listing agent or a seller who has hired an agent to sell your home, this is an important rule that is often ignored by agents – and it can cost home sellers a sale. It is not written down anywhere and is not required, but it is necessary in order to assure smooth closings. What is this rule? Listing agents must prepare reports for appraisers.

As long as I have been listing properties I have been preparing reports for appraisers. The appraiser, who is sent out by the buyer’s lender to evaluate a property that is in escrow, may not know the neighborhood well or even be from the immediate area. He or she also may not understand why a similar home sold for more or for less. Since the buyer’s agent is not allowed to communicate with the appraiser it is in the best interest of both parties that the listing agent take this advice to heart and come prepared.

I have had many appraisers tell me that they did not need me to meet them at the property or prepare anything, but I still do both and I have to say that almost all of them end up spending at least a few moments at the end going through my report with me.

Here is what I include in my appraiser reports:

1. A brief but concise analysis of all comparable sold properties – usually within the last 6 months, comparing and contrasting them to the subject property. I also let the appraiser know if there were multiple offers, as this can attest to the fact that many thought the property value was accurate.

2. A list of any upgrades or improvements in the subject property

3. Analysis of any pending sales, including prices I can usually obtain from the listing agents to help

4. A comparative market analysis sheet that lists all the comps and the pending subject property

5. All relevant listing sheets (for each property analyzed)

6. Any relevant sales statistics graphs for the area, and

7. A listing flyer

I have never had a listing that did not appraise.

Every listing agent should be sure to include this report as one of their duties. It is the duty of a listing agent to represent their sellers to the best of their abilities, and this simple step – which usually takes about an hour (more for tricky comparable listings) could make a difference in getting the buyer and seller to closing.

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Oceanside Hero Saves Ducks

Sunday, April 9th, 2017

Today I witnessed complete selflessness and kindness by an unknown man in Oceanside. I was driving home from work on westbound Highway 76 and traffic was moving fast. All of a sudden I saw a man starting to cross in front of oncoming traffic – it was very scary and I was luckily able to stop in time.

The man held his hand up while he moved across the street to try and stop traffic…in order to help a mother duck and her ducklings cross the highway. Several drivers did not stop and some ducklings were run over. The mother duck was frantic and was literally dodging traffic with her ducklings scrambling after her – they were almost hit multiple times. But with this man’s help they made it across the road and I believe 4 ducklings survived.

I don’t know where the man came from – he could have been on the other side of the road at the light or he could have stopped his car in the eastbound lanes to save the ducks, but I do know that he truly risked his own life to safe these creatures, and I wish I knew who he was so I could thank him. There was nowhere for me to pull over and by the time I could have turned around I probably would not have reached him in time. There are not many people who would have done what he did, and it is proof that people care about others, about nature, about doing things larger than just living life for themselves alone.

THANK YOU to the man who saved the ducks. It brought tears to my eyes to watch your daring act of love. You are a hero and an inspiration.

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