October 4, 2006
· Filed under Buyers
Now that we’re in a fair market, many buyers think it’s a prime time to ‘lowball’ their offers. I’m asked about it often and thought I’d post this article that I agree with.
It came from BrokerAgent and was written by Steve McLinden
As markets that were overheated as recently as early 2005 have cooled considerably, this subject has become a hot one. With a temporary overabundance of housing on the market in many parts of the country, low bidders are truly in their element for the first time in about a decade. Offers that were laughed off just 18 months ago by confident sellers are Read the rest of this entry »
September 26, 2006
· Filed under Buyers, FINANCIALS, RESOURCES
I just stumbled upon this incredible resource offered by my local Association of Realtors, SRAR. If you’re someone who may need financial assistance in order to purchase a home or you have questions about the process or are ‘just doing more research’ before you buy, CLICK HERE. This document is so helpful.
September 24, 2006
· Filed under Sellers
By Dana Dratch • Bankrate.com
Selling a house is a lot like romance. It really pays to set the mood.
Real estate pros call it staging — showcasing the best side of a home to create interest and help you get top dollar. “Because the market is so strong, the houses that are planning for maximum impact are generating the sales,” says Ron Phipps, a principal broker with Phipps Realty and Relocation Services in Warwick, R.I.
Here are 20 tricks to selling your home from the pros:
1. Make room. Clear out as much furniture as you can. Put it in storage, give it to Goodwill Industries or have a garage sale. “What you want to do is open the house up so it does not look cluttered — it looks spacious,” says Michael Love, president of Interior Options Inc., a New York interior design firm. “And people can picture their own stuff in it.” Hallways and doorways, in particular, need to be clear and open.
2. Use counter intelligence. Go through the house and clear off all the horizontal surfaces like kitchen and bathroom countertops. Old magazines? Toss ‘em. Knick-knacks? Pack ‘em. Counters need to be clear and clean.
3. Follow your nose. A home should smell good. That means no noticeable odor — no pet scent, no stale Read the rest of this entry »
September 24, 2006
· Filed under Buyers, HOME REPAIR, Sellers
by Roselind Hejl
Are you are preparing your home for sale, planning to remodel, or shopping for a new home? Find out what is important in today’s housing market, and make choices that contribute the most value and enjoyment for the money.
Home Styles
Old world styles are popular. French, English, Tuscan and Spanish homes with stone or stucco walls, tile roofs, iron fixtures, heavy beams and rustic floors are in demand. A sense of historic connection resonates with buyers today.
The Craftsman style, built in the early 1900’s, is back. Features of this style, such as cobblestones, deep eaves, tapered columns and wide trim, favor the handmade look over mass produced.
Farmhouses and country homes are perfect remodel candidates and prototypes for new homes. Native materials, wood windows, simple floor plans, and warm colors connect with nature and earlier times.
The retro look is fashionable. Ranch styles and split levels built in the 1950’s are perfect for sleek remodels, and fit with fashionable furniture styles.
Urban modern is everywhere. Modern open plans make use of color, tile, glass, and experimental materials such as plastic and metal.
Floor Plan
The preferred ceiling height is about 9′-11′. Two story ceilings are out. In small rooms these feel like towers. Read the rest of this entry »
August 24, 2006
· Filed under MARKET CONDITIONS
this is an article posted by the Southland Regional Association of Realtors, it’s the board that I belong to. Their articles & updates are always starightforward and helpful. This one is the most current commentary on what the SCV market is doing.
Santa Clarita Valley Single-Family Homes and Condominium Resale Statistics
A total of 237 single-family homes sold in the Santa Clarita Valley during July, but that was well below the record-setting pace of sales of the last four years as buyers and sellers struggled to understand and accept current market realities, the Southland Regional Association of Realtors reported on Thursday, Aug. 10. Sales were down 35.2 percent compared to a year ago or off 129 transactions from the 366 sales of July 2005. It was the lowest total for the month of July – typically the busiest time of the year – since 2000 when 223 homes changed owners.
Condominium sales also felt the effects of the new market realities with sales off 35.8 percent for a total of 122 closed escrows, the lowest total for the month since 1999. “Some sellers refuse to believe the boom market of the last four years is history and that their property is not selling simply because it’s priced too high,” said Peggy Mueller, president of the Association’s Santa Clarita Valley Division. “Some buyers think the sky is falling on the housing market and their low-ball offers are quickly rejected.
“But the sales being made today involve buyers and sellers who understand that this is the new balanced market where properly priced properties sell and reasonable offers get accepted,” Mueller said. “Frankly, it’s a relief to be in a market where there’s equal give and take during negotiations and both parties have real opportunities.”
Despite slowing sales, the single-family median price rose at a single-digit pace by 4.3 percent to Read the rest of this entry »
August 22, 2006
· Filed under MARKET CONDITIONS, SANTA CLARITA GENERAL RESOURCES
The City of Santa Clarita is asking its residents and community members to be a part of the drafting of a new affordable housing ordinance. A workshop will be held on Wednesday, August 23, from 6 p.m. to 8 p.m. in the Century room at City Hall located at 23920 Valencia Boulevard.
The workshop will be a discussion of the City’s housing element. All Santa Clarita community members are invited to discuss what is needed for existing and future Read the rest of this entry »
July 31, 2006
· Filed under MANUFACTURED/MODULAR HOMES
This is another topic I get asked about frequently enough to warrant the following article. It’s written by Janet Wickell. Please see blog roll (on right, under Manufactured/Modular) for links to more info. Enjoy…and please contact me with any questions or comments!
And, click here to read/join forums for Manufactured Homes
Facts About Modular, Manufactured & Site Built Homes
When you are buying a home, you might hear the terms modular homes, manufactured homes and site built homes. It’s important to understand how they all differ, no matter whether you are purchasing an existing house or plan to build on land that is subject to restrictions. The differences can affect a home’s price and its resale value, and even dictate whether or not it can be built on your land.
WHAT ARE SITE BUILT HOMES?
~They are constructed entirely at the building site.
~They conform to all state, local or regional codes where the house is located.
~Often called ’stick-built’ houses. Read the rest of this entry »
July 24, 2006
· Filed under MARKET CONDITIONS, SCV Housing Stats
Home Price Increase Slows Down to 7.2% as Sales Slacken, Inventory Grows
While activity remains strong as buyers enjoy the benefits of the largest inventory of homes listed for sale in years, sales of existing single-family homes in the Santa Clarita Valley fell off record high activity levels during June by 37.5 percent with 235 properties changing owners, the Southland Regional Association of Realtors reported on Thursday, July 20.
The decline in activity seems particularly steep because the 405 sales reported in June 2005 was the all-time record high and the market has changed dramatically – some say to the better – since then.
However, June home sales did rise from the May total by 8.1 percent, suggesting the local market is striving for a new balance and that buyers realize they have more negotiating power than at any time in the last four years. Read the rest of this entry »
July 19, 2006
· Filed under FINANCIALS, Foreclosures
This post is part 2 to my foreclosures series.
The Trustee’s Sale
In the last article, I discussed the basic steps involved in the nonjudicial foreclosure process. This month we will take a closer look at the Trustee’s Sale.
Using the information in the example below, let’s discuss how the Trustee’s Sale works. At the Trustee’s Sale, you bid on the trust deed that is being foreclosed.
In our example, it is the second trust deed:
SAMPLE PROPERTY
Market Value: ……………….. $210,000
Existing Liens:
1st:……………………………. $103,000
(balance & arrears)
*2nd:. . . . . . . . . . . . . . . . . $27,000
(opening bid)
3rd: …………………………….. $10,500
(balance & arrears)
Property Taxes:…………………….. $2,000
How much do I bid?
In order to get the property, you must bid more than the opening bid. Your overbid could be for as little as one penny. In our example, the opening bid is $27,000. This amount represents what is owed to the foreclosing beneficiary, which includes the loan balance, back interest, late payment penalties and the trustee’s fees and costs. Your minimum bid would have to be $27,000.01. Read the rest of this entry »
July 19, 2006
· Filed under FINANCIALS, Foreclosures
I get asked about foreclosures alot.
So, while there are zillions of articles out there, I have found these 2 articles that are published by my association, SRAR, to be the most helpful. Do you agree?
Feel free to leave comments/ask questions.
The following article is an overview of the nonjudicial foreclosure process. This is the foreclosure method most often used in California. No court action is needed and the entire process takes under four months if there are no delays. For a more detailed study of the nonjudicial foreclosure process, please read Sections 2924. ¬2924h. of the California Civil Code.
Three basic steps are involved:
1. Recording of a Notice of Default
2. Recording of a Notice of Trustee’s Sale
3. Trustee’s Sale
Special Note: If you are interested in listing, selling and/or purchasing foreclosure properties, you will have to know how to find and use the notices of default and sale. This will be discussed in future articles.
The nonjudicial foreclosure process begins when the beneficiary (lender) notifies the trustee in writing that the trustor (borrower) is in default and instructs the trustee to initiate foreclosure proceedings. The trustee prepares a Notice of Default and records it in the office of the county recorder of the county in which the property is located.
Within ten days after recording the Notice of Default, the trustee must mail copies of the notice to the trustor and to all parties who recorded a Request for Notice of Default.
Read the rest of this entry »
