Posts Tagged ‘homesellers’

Happy Valentines Day and Thank You!

Wednesday, February 14th, 2018

Happy Valentine’s Day! There is no better day to say “Thank You” to my clients and friends, and to express the love and gratitude I feel for each one of you, and for your support.

Each of the candy hearts in the photo represents a home I have sold. Whether it was a purchase or sale, each has a story behind it that starts with people and building relationships.

I am blessed to have met such amazing people and to have been a part of such incredible stories and lives. Your trust and loyalty are beyond special to me.

So I thank you for filling my heart (pun intended)! I know as time goes on I will be able to fill my heart even more, and meet others who will touch my life.

I wish you a day full of love, today and every day.

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Home Seller Dilemma: Sell Now or Wait Until Spring?

Monday, January 29th, 2018

A lot of homeowners have been wondering whether to sell now or wait until Spring. While Spring and early summer are typically the best times to sell, when a large majority of buyers are searching for homes, this year there is no reason to wait if you are a seller…and here is why:

Low Inventory – although picking up in some places, housing inventory is still low. The last year has been challenging for those who are ready, willing and able to buy, since they are unable to find homes that meet their needs or desires. This puts sellers in a great position while it is still a seller’s market.

Mortgage rates will continue to rise – rates have risen once already and will likely do so twice more this year. Combined with low inventory this double whammy will effect homebuyers, effecting their purchasing power and pricing some out of certain markets. If inventory picks up and the rates rise it will start to shift to a buyer’s market, and prices could come down in the long run.

Here is an example I read on a lender’s blog: If rates increase by 1%, from 4% to 5%, a buyer will lose 10% in purchasing power. This means that if a buyer can afford to purchase a $600k home today, but rates increase by 1%, she will only afford $540k using the same monthly payment.

Borrowing is still cheap – from a historical perspective it is still inexpensive to borrow money.

Prices will likely continue to rise – most economists and those who watch the real estate market predict that despite rate increases, prices will continue to rise in 2018. In the last year prices in San Diego County increased 9.1% – this was higher than the yearly increase of 4.2% in 2016. Again, this could impact homebuyers in many areas of the county.

New tax laws will likely effect high-end borrowers – those who are obtaining loans for high end properties will be effected from a tax perspective, as the new laws cap the mortgage interest deduction and the ability to deduct state and local taxes. Therefore the higher end market will be impacted this year, but we will have to wait and see the extent.

Based on the above it is an ideal time to sell. There is a great demand out there – I get emails from agents every week asking about whether I have any upcoming listings in certain neighborhoods. Many homes are selling before they even hit the MLS, and many agents are choosing to put their listings on sites other than the MLS first, in order to try to represent both parties in the sale (so some buyers may not even be aware of listings in neighborhoods they like).

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5 Ways to Best Sell a Tenant-Occupied Home

Friday, February 20th, 2015

Selling a home the right way can be tricky – you need to make sure the home is clean, clutter-free, shows well and is staged properly. You should  have beautiful professional photos and the home should be inviting and bright…a lot to contemplate when preparing for sale. If the home is occupied by tenants these tasks can be even more challenging. Here are 5 things you can do to make sure your home looks great with tenants living there. spring-cleaning

1.  Make assessments with the tenants. Before listing you should walk through the home with the tenants and your real estate agent. Make a list of things that need to be done in order to get great photos and optimal showing results – is there any clutter that needs to be removed? Does anything need to be remedied? Make a list for the tenant and then offer to help them out to get those items resolved.

2.  Include the tenants in the planning. Make sure you discuss with the tenants the ideal time(s) for showings – get them involved so that they do not feel their privacy is invaded. Find out if they would like to be notified by the agents themselves of potential showings, or if they prefer to have daily times where agents can just go and show (for example, if they will be at work). If there are any pets make sure to get instructions on what agents need to do to assure the pets are safe during showings. Consideration goes a long way and will make your tenant feel their needs are being addressed.

3.  Pay for a cleaning service. Tell your tenant that you will be paying for the home to be cleaned. If your tenants are messy you may need to have the cleaning service come every week or bi-weekly during the showing period. Most tenants will like this because they do not have to clean themselves. Make a deal with them that you will do this if they promise to make beds, put away clothing and food items, and keep everything clutter-free. If the home is carpeted you should also have the carpets cleaned, as well as the windows.

4.  Rent reduction. Many tenants have no desire to help you sell the property because it means they will need to move. In order to make sure they keep the house clean and show-ready you need to make it worth their while to do so. The best way to do this is to reduce their rent during the time the home is being marketed and shown. The tenant will agree to keep the home tidy and de-cluttered daily, in exchange for a reduced rent. This can be a win-win for everyone.

5.  Last resort: termination of tenancy. Some tenants just won’t cooperate no matter how much you do to help them. Rather than try to show the home in a poor state, if all else fails you will need to provide your tenants with written notice to terminate the lease (if it is possible to do so according to the terms of your lease). If the lease is still in effect and cannot be terminated it may be advantageous to offer the tenants a monetary sum to terminate the lease early. Make sure you speak with a real estate/tenant and landlord attorney in your area to understand the law and your rights as a landlord, as well as those of your tenants – you should do this before listing the home if you have a lease that is still in effect.

Over the years I have sold properties with tenants – from cooperative tenants to those who lived in filthy conditions and made nasty comments to potential buyers about the home (those tenants started out cooperative and said they were going to keep the place clean – they had to be evicted eventually). In general it is easier to sell properties without tenants, but if you have people who are willing to help out it can be done and it can be a positive situation for everyone if you take steps to be considerate and plan everything out.

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