Time to Get PreQualified...Again?

 

Finally, the holidays are over and you are serious now about purchasing a new home.  Several months ago, you were pre-qualified by a good lender who was recommended to you by someone you trust. Together you determined what amount of loan you would qualify for.  You even provided everything that the lender requested AND he ran your credit report.  You have been "pre-approved" which is even better than pre-qualified as everyone, including your Realtor, has assured you.


But wait...beginning in January 2014, the mortgage rules are changing again and the truth is that these new rules may work for or against your ability to get a loan. 

If you are planning a home purchase in 2014, I strongly recommend that you reconnect with your mortgage lender and request an appointment to discuss the new rules and to obtain an updated pre-approval letter. 

Pre-approval letters that are only a few months old could be out-of-date in light of some of the changes. Additional documentation may be required which can often take time to obtain.  Something else that you may find out is that you actually qualify for a larger purchase since the qualifying debt to income ration will be increased in January 2014.

If you have any questions concerning your real estate needs, please call Nancy Puder directly at 805.710.2415 or email Nancy @NancyPuder.com  She always loves to hear from you!  Nancy Puder is a real estate broker on the Central Coast of California.  Follow Nancy on Facebook.  Go to www.Facebook.com/NancyPuderRealtor and click "like" 

 

 

Smart Tax Moves to Make Before 2013 Ends

There are still a few things that a smart homeowner can do before the end of the year to save on their 2013 taxes. 

1. Pre-pay your property taxes

In California, where property taxes are due twice a year, it may make sense to pre-pay next year’s first installment. 

2. Make your January mortgage payment now.

If you are planning to make the payment over the next few weeks anyway, why not make it now and take the deduction?

3. Make energy efficiency improvements

The IRS tax credit for making improvements to a home for energy efficiency–insulation, air conditioning or heating units, windows, among other items–they can qualify for a tax credit of 10% of the cost, up to a lifetime maximum of $500. Note that this is not a deduction, but a credit–a straight subtraction from taxes owed. This is a time-sensitive allowance so it may make sense to make these improvements before the end of the year

4. Finalize your foreclosure sale

Before the financial crisis, people who lost their homes to foreclosure and had the remainder of the balance on their mortgages forgiven had to report that cancelled debt as income and pay taxes on it. But in the midst of the recession, with so many people losing their homes, Congress stopped taxing the first $2 million in forgiveness of mortgage debt. This perk is coming to an ending 12/31/2013. So if you have a home in the midst of a short sale or foreclosure proceeding, put the pressure on everyone involved to get the deal done before the year is over.

All of these tips will help you to get a good start in 2014.  Check with your CPA to get more information on how to save money on your 2013 return.

 

Wishing you and yours a very Merry Christmas!  If you would like help planning your next real estate move, give me a call.  I always enjoy hearing from you.

Nancy Puder is a real estate broker in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or call (805)710-2415.  Follow her posts on Facebook Nancy Puder Realtor and click "like".

 

 

 

 

Recovery Will Continue Through 2014

 

The National Association of Realtors has predicted that the housing market will continue on it's road to recovery in 2014 and that home prices should go up around 6 percent.

 

Mortgage rates are expected to increase to around 5.4 percent which should keep the real estate market somewhat balanced.  Loans will be a little easier to obtain in  this upcoming year because of some loosening of mortgage underwriting guidelines.

 

Low inventory will continue to be a challenge for home buyers and investors. I believe one reason that there are fewer homes on the market, is that many homeowners chose to remodel rather than sell when home prices dropped. Many of those same potential sellers are now satisfied with their homes and will stay a bit longer.  Others will decide to sell now, however, as prices are increasing.

 

All indicators are that the real estate recovery is gaining momentum at a cautionary speed.  Jobs are being created as the overall recovery improves and buyer confidence is up.

 

I don't think that we are going to see "runaway prices"  anytime soon, however, I do recommend that 2014 buyers get started now to stay ahead of rising interest rates which will affect how much home they will be able to purchase.

 

May you have a very Merry Christmas and a joyous Holiday Season!  

 

Nancy Puder is a real estate broker in Arroyo Grande, CA.  For questions concerning your individual real estate needs or to determine the value of your home, call Nancy directly at (805)710-2415 or email Nancy@NancyPuder.com She always enjoys hearing from you!

 

 

 

Pillar to Post

If you are thinking of selling your home, you may want to begin by ordering a pre-sale home inspection. Most sellers these days are opting for full disclosure when selling their home.  A thorough home inspection by a company that provides this type of service usually takes about 2-3 hours and costs around $450 depending on the size of your home.

 

For years. the typical situation has been that the seller lists their property for sale, then enters into a sales contract and within the first couple of weeks the buyer orders a home inspection report at the buyer's expense. The buyer accepts the assessment and disclosures made by the seller but wants to make sure that an independent inspector feels the same way about the home.

 

Imagine everyone's dismay when the home inspector discovers a problem with the heating system, a hidden plumbing leak or some other problem that translates into big money.  In this scenario, the buyer comes back to the seller and asks them to either correct the problem or renegotiate the sales price.  The transaction at that point, can deteriorate rapidly if the buyer and seller cannot come to an agreement.  Sometimes, the buyer will even become disillusioned and choose to move on to another property.  If that happens,  the process has to start all over again.

 

Surprises that cost money are not pleasant for anyone.  Home sellers can prevent most unforeseen repair costs by ordering a home inspection before the house sells. Having a professional home inspection is a powerful tool when selling your home.  A pre-inspection will help you put your best foot forward and will increase the likelihood of a successful closing in today's market.

 

Call if you would like a list of the home inspection companies that I have had good experiences with. I always love to hear from you! 

 

Nancy Puder is a real estate broker in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or call (805)710-2415.  Follow her posts on Facebook Nancy Puder Realtor and click "like".

 

 

 

 

Home Sales Steady Prices Up

So often, I will hear that the winter is not a good time to sell.  Contrary to that general belief, however, many sellers actually do quite well when they put their home on the market during the winter season.

 

These are some reasons to put your home on the market now.

 

1. There are fewer homes on the market during the winter months.  This means that your home will not have as much competition.   Contrary to what you may hear, there are buyers looking to buy a home now and they are not waiting until spring to make their purchase.

 

2. Interest rates are probably going to go up.  The same buyers that are able to purchase your home today, may not be able to qualify for the same loan in the spring because a higher interest rate will translate into a higher monthly payment.

 

3. If you wait to put your home on the market, you and everyone else will put their home on the market at the same time.  The advantage you were hoping to gain by waiting will be neutralized as competition will be much greater.  In addition, if interest rates go up by then, you will possibly lose some potential buyers.

 

My advice is that if you are ready to sell, go right ahead and do it now. It's often a good idea to swim in a different direction from the crowd if you want to stand out.

 

Weekly Tidbit:  Home prices have jumped in some of the largest cities, with the largest price gains in the western cities of Las Vegas, San Francisco, Los Angeles and San Diego.

 

 

Nancy Puder is a real estate broker in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

 

Start With Curb Appeal When Selling

There are a lot of different ways that sellers can increase the curb appeal of their home and at a relatively low cost. One that has a big impact is a fresh coat of paint on trim, windows, or wood siding. Although some painted areas are small and often hard to see from the street, unsightly chips in window trim or worn and discolored paint on window shutters often alert potential buyers to how poorly a home has been maintained no matter how green and weed-free the grass or how well-trimmed the walkways are.

 

 

 

 

 

The first thing to do is to make a visual walk around the exterior of the home, which can take a few minutes but should be thorough and not rushed. Sellers should use the same mindset as buyers and look for any possible things buyers will use to negotiate a lower offer on the home. For example, water damage around door frames and windows can often indicate a problem, even if the problem has been addressed and repaired.

Water-damaged wood may not need to be replaced but it certainly needs to be cleaned and painted. 

 

Mold and mildew can also leave telltale signs that a simple clean-up and a fresh coat of paint can remedy. Even well-maintained homes will show their age over time and dull or discolored paint can be easily covered with a new, fresh coat.

 

Once identified, sellers can determine if a professional painter can do the best job or if it only requires a little extra elbow grease – whatever fits the household budget. If they choose to use a contractor, homeowners should get references and specifics as to length of job and all additional charges. Ideally, all costs and job specifics should be in writing. But in most cases, simple paint jobs won’t require a contractor. Most homeowners can be “do-it-yourselfers” with a can of paint, paint roller, paint brush, some tape, and plastic tarps – and a lot of patience. Any painting tips are readily available online or at local hardware stores.

 

A beautiful lawn, new garage door, flower bed or neatly trimmed shrubs can all add to the curb appeal of a home. But an unsightly, peeling window sill can quickly negate all of the good physical attributes. If homeowners want a quick “SOLD” sign on their lawn, a fresh coat of paint can go a

long way!

 

 

 

 

Nancy Puder is a real estate broker on the Central Coast of California. If you would like a free assessment of your home before selling, call Nancy at (805)710-2415 or email Nancy@NancyPuder.com She always loves hearing from you! You can also follow Nancy on Facebook. Go to www.facebook.com/NancyPuderRealtor and click "like".

 

How to Sell Your Home and Buy Another at the Same Time

Selling your home and buying another can be tricky in today’s market. Although most transactions close successfully, there is no guarantee that your new home will close at the same time as your existing home. Selling and buying at the same time is a delicate dance, but it is doable. There are a few ways to pursue this plan:

 

1. Sell first, then buy. This is perhaps the safest plan, but it calls for multiple moves. In this scenario, you list your home and complete the transaction before purchasing another home. When your home sells, you would put your belongings into storage and live in a temporary rental or, if possible, arrange to rent back from your home’s new owner. This is an ideal situation if the buyer of your home is willing to let you stay until your new home has closed escrow.  

2. Buy first, then sell. This strategy minimizes disruption. You can move into your new place at your leisure and then take time to prepare your home for sale. The major disadvantage is that, depending on how fast your old home sells, you could be shouldering the burden of two mortgages for some time. You are also responsible for maintenance and security on the vacant home. This scenario works best if your first home is already paid off.

 

3. Sell and Buy simultaneously.  In this situation, the seller first puts their property on the market. After the buyer has removed their investigation contingencies, the seller makes an offer on a new property subject to the successful closing of the old one.  The downside to this is that if you are trying to purchase a property that everyone else wants, you may get beat out by another buyer who is ready to go forward and is not waiting for a home to close.

 

There is no right answer in choosing any of these scenarios. However, much depends on your financial stability, as well as your tolerance for risk or disruption.

If you have questions about how this would best work for your own particular situation, give Nancy a call at (805)710-2415 or email Nancy@NancyPuder.com. She always loves to hear from you!  Nancy Puder is a real estate broker on the Central Coast of California. www.NancyPuder.com.  Follow Nancy on Facebook! www.facebook.com/nancypuderrealtor

 

 

 

5 Ways to Increase Your Credit Score

 

Your credit score is calculated  from information in your credit report and is a measure of how good of a risk you are to the creditor.  If you are thinking about buying a house or even trying to rent one, it is important that you are aware of how your credit score will affect your ability to buy or rent.

It's important to know that any lender to whom you apply will obtain your score and provide it to you. As noted below, however, inquiries by lenders may have a negative effect on your score, whereas inquiries by you do not. Hence, it is a good idea to find your score before you apply, so you can make an informed decision on whether you want to apply at that time. 

You can obtain your score from many firms in the business, including www.equifax.com, www.transunion.com, www.experian.com and www.myfico.com. 

Here are some tips on how you can improve your credit score using data from your credit reports.

 

Pay on time: The core rule is to meet your debt obligations on-time, EVERY time. If you have had payment lapses in the past but your habits have improved, time is on your side. The credit scoring rules weight recent experience more heavily than older experience. 

 

Correct mistakes in your credit report: Your score should not be reduced by reporting mistakes, which are all too common. Detach yourself from the "wrong vendors": Because finance companies lend to relatively poor risks, the credit score of any borrower owing money to a finance company is lower than it would be if the creditor was a bank. By the same logic, borrowers who have credit cards of department stores are penalized, relative to what their score would be if they had cards issued by banks. 

 

Reduce balances on revolving credits to less than 50 percent of the maximums: A high utilization ratio is read as a sign of weakness and potential trouble, reducing your score. Credit cards are the most important type of revolving credits, but HELOCs belong in this category as well. A HELOC used to purchase a house or to refinance a mortgage, where the initial utilization ratio is 100 percent, will jolt your credit score.

 

Note that utilization ratios can be reduced by getting the maximums raised, as well as by paying down the balances. In many cases, credit card issuers are willing to raise the maximum at the borrower's request. 

 

Minimize the number of "hard inquiries": Hard inquiries are requests to a credit agency for your credit score from a credit grantor, insurance company or other entity to which you have applied and to which you have entrusted your Social Security number. "Soft inquiries" made by you or by firms looking to sell you something for which you have not applied don't require your permission and don't impact your credit score. The credit-scoring systems may or may not penalize borrowers who shop multiple credit grantors within a short period -- unfortunately, you can't be sure.

 

The credit agencies tell you that multiple inquiries within a 15-day period count only as a single inquiry, but in fact inquiries for mortgage, auto and student loans would probably count as three inquiries, and even three mortgage inquiries could count as three inquiries, depending on how the credit grantors are identified to the credit scorer. 

 

The bottom line is that in applying for credit, find your own score that you can deliver to the vendors you are shopping who need the score to set the price. The vendor you select will verify the score through his own inquiry, but it will be only a single inquiry. 

 

Pay off collection accounts: This may actually reduce your score in the short-run by converting the account from an older entry with a low weight to a new one with a higher weight. However, you can't get a loan with a collection account on your record, so you must pay it off -- the sooner the better. 

 

Nancy Puder is a real estate broker in Arroyo Grande, CA.  For answers to your questions, contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

 

Housing Recovery Slow Down

  

The housing recovery appears to be slowing down after booming over the past several months.  Lower home prices and interest rates along with fewer properties for sale, caused many buyers and investors to enter the market and create bidding wars which drove prices up.

 

 
Home prices are now higher than they have been in years.  Along with the increase in prices, mortgage rates have also gone up steadily.  As a result, some buyers have had to step out of the market.  In addition, some investors are now choosing to step away.  This has led to what is, most likely, a short term stall in the housing recovery.


The sudden and rapid increase in real estate demand caused many to be concerned that we might be heading for another bubble.  This fear can actually cause people to act irrationally.  We need to remember that the bubble did not burst because people wanted to buy homes and were willing to pay a little more this year than last year.  There were many other factors that contributed to the collapse of the real estate market.  Home values increasing over time is a normal and healthy scenario.  When there are extreme changes in the market, however,  it is not sustainable. The market's recent "cooling off" is good example of this.

 

As investors looking for quick or dramatic returns on their investment are withdrawing from the market, they are being replaced with buyers who want to purchase a home to live in for many years.  As this exchange of buyers takes hold, it will help to continue the stabilization of our market and cause it to return to a more normal state.

 

If you have any questions concerning your real estate needs, please call Nancy Puder directly at 805-710-2415 or email Nancy at NancyPuder.com.  She always loves to hear from you!  Nancy Puder is a real estate broker on the Central Coast of California.  

Mistakes Buyers Make with Lowball Offers

After the financial crisis five years ago, there were definitely deals to be had. But the economy has recovered a bit and housing inventory is tightening up, especially in metropolitan areas such as New York City, San Francisco and Atlanta. 

 

Assuming that someone’s going to be thrilled that you make an offer on their house (even a lowball offer) is not the case. When bidding wars break out, sometimes buyers have unrealistic expectations and end up being the one who lost.

 

Here are the most common mistakes that buyers make with lowball offers.

 

1.  Aggressive negotiating - This will usually get you nowhere.  There is no reason to start negotiations with a wildly lowball offer and to make outrageous demands.

 

2. Refusal to pay asking price. The idea that you should never pay the asking price isn’t realistic. Sometimes the house is worth exactly what the seller has priced it at. It's OK to pay that price.  

 

3. Ignoring the needs of the seller - Sometimes buyers are shocked to find that a seller accepted an offer for a lower amount than they had submitted.  Most buyers assume that price is the only consideration.  The truth is often a seller is more concerned about how much time they will have to move out, once the sale is completed.  In another scenario, a seller may take an offer where a buyer is not asking for any repairs even after the inspections are done.

 

Bidding wars can be invigorating or devastating for a buyer. You can end up the winner or you can be the loser. The sellers and the seller's circumstances should be taken into consideration at all times during the negotiation process, the more you understand their needs, the greater the chances are you will end the winner.

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

What Your Realtor May Not Tell You

When buying a home, a good Realtor is a valuable resource, especially if it’s your first time. They can guide you through the neighborhood and the homebuying process, which can get complicated. They know mortgage brokers, inspectors and sometimes even listings that the rest of the public does not.

Many people like to consider themselves armchair experts when it comes to real estate, but the business is a nuanced one, best navigated by a professional. Here is something that most Realtors are too polite to tell you.

 

Qualified clients are my priority: If you have been preapproved for a mortgage, know how much you can put down and understand debt-to-income ratio, then any broker will be happy to spend day and night finding you the perfect home.

 

If you’re just getting your feet wet to either rent or buy a new place or don’t quite have the cash to start the process, then go to open houses as opposed to a private outing with a broker. Open houses are designed to let people look and ask questions without wasting a Realtor's time. Along the way, you may find a broker you want to work with who can get into specifics for your budget and needs, when you’re ready to pull the trigger.

 

Generally, brokers will ask you upfront if you’ve been preapproved for a loan. If you haven’t, they may ask you to call back when you have all your paperwork in order.  This is because for a Realtor, time is money.  At the end of the day, everyone hopes to be paid for a job well done.

 

If you are just getting started, a good Realtor will provide you with clear direction on how to begin the process and will continue to be available to answer questions along the way.

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

Get Roofs & Heaters Inspected Before Winter

Warm and sunny days in October makes it hard to believe that summer is really over and that soon we will be well into the winter season.  Even in California, it is wise to make preparations before temperatures drop and the rainy season is upon us.  

 

Here are some tips on how you can sail through the winter without some unexpected and and too often unpleasant surprises.

 

Roofs - Now is the time to get your roof inspected.  For a surprisingly low cost, you can have your roof inspected to see if you have any existing issues that could cause a leak during the next rain.  A few dollars spent today could save you thousands later in water damage.  

 

Heaters - An inspection of your furnace on a regular basis is important, not only for safety reasons, but also to prolong the life of your furnace.  You may be surprised to find how low the cost is to have an inspection done.  The gas company will sometimes come out and inspect free of charge.  A licensed HVAC person will also clean and evaluate your heater for you.

 

Roofers and HVAC vendors are swamped with calls as soon as the weather changes.  Heaters that haven't been turned on in months, all of a sudden don't work.  Rainy days bring leaky roofs.

 

Waiting until the "emergency" happens, may result in having to wait a few uncomfortable days before a repair person is able to show up to address your problem.

 

Remember, an ounce of prevention is worth a pound of cure!  

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

 

 

 

Tips for Baby Boomers

Baby boomers represent a sizable portion of the real estate market and are now thinking about selling their home.  Many have already had experience with buying and selling and have gained some knowledge and sometimes painful experience along the way.

 

 

 

Of course, wisdom is something that many baby boomers can claim nowadays since they have been around long enough to see a fair amount of what works and what doesn't.  They have also had time to learn new technology and have finally embraced it.

Now boomers receive massive information through the internet, television and other media sources.  While this information is quite amazing,  it is important to remember that information received through these vehicles may not necessarily apply to your own situation. 

Since buyers and sellers can easily see how much homes have sold for in their neighborhood and can even apply for and obtain a mortgage online, some wonder what the value is in using a local and reputable professional.

 

I do agree that information is empowering and should be utilized when making your next real estate decision.  I also believe that most of us don't have the time or the experience to make a truly informed decision without the help of a professional.  A true professional guides their client through the complicated process of buying or selling and helps their client from beginning to end and sometimes afterwards when needed.

 

In addition, a local person has a stake in whether their client is satisfied with their services in the  hope that the client will be eager to refer them to their friends and acquaintances.

 

As an active Realtor, I will say that most of my transactions that involve a local real estate agent and lender close successfully with the fewest amount of problems. 

 

My advice this week is to take the time to have a face-to-face meeting with the right professional to further assure the success of your next real estate decision.



Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

Spruce Up Outside When Selling

 

Certain things never go out of style and curb appeal is one of them.  If you are putting your home up for sale, here are some tips to make it more attractive to a potential buyer. 

•  Go around the perimeter of the house and move all garbage cans, discarded wood scraps, extra building materials, etc., to the garage or, if applicable, take them to the dump.

• Check gutters and roof for dry rot and moss. Make sure they are swept and cleaned.

• Examine all plants. Prune bushes and trees. Keep plants from blocking windows: “You can’t sell a house if you can’t see it!”

• Remove any dead plants, weed all planting areas, and put down fresh mulching material.

• Keep your lawn freshly cut, edged, and fertilized during the growing season.

• Clear patios or decks of all small items, such as little planters, flower pots, charcoal, barbeques, toys, etc.

• Check the condition of the paint on your home, especially the trim and the front door. The first impression, or “curb appeal,” is very important.

 

Try to look at your house “through a buyer’s eyes,” as though you’ve never seen it before. This will help you see what needs to be done. Any time and money invested on these items will usually bring you the return of more money and a quicker sale.

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

 

 

Simple Steps to Stage Your Home to Sell

It's true that not everyone's home is going to look like Martha Stewart lives there no matter what they do. There are, however, some simple steps, that any seller can take, so that the home shows better.  Here are some ideas.

 

*Clear all unnecessary objects from furniture.  Keep accessories and objects on the furniture restricted to groups of 1, 3, or 5 items.  A de-cluttered home helps the buyer mentally “move in” with their own things.  Yes, that iincludes those cute stuffed animals!

 

* Rearrange or remove some of the furniture  if necessary.  When it comes to selling your home, thin out overcrowded rooms to make the rooms appear larger.

 

* Clear all unnecessary objects from the kitchen countertops. If it hasn’t been used for three months…put it away! Clear refrigerator fronts of messages, magnets, pictures, etc.

 

* Bathrooms - remove any unnecessary items from the countertops, tub, shower stall, and commode top. Keep only the most necessary cosmetics, brushes, perfumes, etc., in one small group on the counter. Coordinate towels in one or two colors only.  (Big fluffy white towels give a "spa like" feel)

 

* Take down, reduce, or rearrange pictures and objects on walls. Patch and paint walls wherever necessary

 

* Pack up and store. If you need room to store extra possessions, get a storage unit.

 

* Leave on certain lights during the day . During showings turn on ALL lights and lamps.

 

*Set a background tune. Play light FM music every day in the house, for all viewings. 

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

 

 

 

Homeowners On Track to Regain Equity

 

 

Home values are steadily rising, putting many underwater homeowners on track to regain enough equity by 2015 without having to short sell.  This prediction should hold true if home prices continue to rise at 1.33 percent per month.  Some homeowners have already regained their equity and are now selling their homes after a long wait.

 

According to recent reports, however, 8.3 million homes across the country will still need more time before they enjoy a positive equity status.  The good news is that as home values go up, we should begin to see more homes available for sale. 

 

Reports further show that one out of four homes in foreclosure may have enough equity to sell before the property goes back to the bank.

 

This is good news for sellers, but buyers may not be as thrilled since they will probably pay more for the same home that they passed on last year.  

 

Naturally, the doomsayers are worried that we are headed back to where we were before the bubble burst.  While that could be true, I think I will choose to just bask in some good news for awhile and enjoy the ride!

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415 She always enjoys hearing from you!

 

 

 

New Type of Investor in Today's Market

A new type of investor is emerging in today's real estate market. Gradually fading is the "all cash" investor or institution that has been buying up distressed properties as quickly as they came up for sale.  

 

Cash investors played an important part of the housing recovery, erasing shadow inventory and driving prices upward. Now reports show that this investor, along with the foreign investor is retreating.


Today, a more conservative and value oriented investor has emerged. These value investors are looking for nice homes in areas where the market is sustainable and they are thinking "long term investment".  As the housing recovery continues I believe that we will see more and more  of this reliable type of investor.


Our Central Coast has always been an attractive place for future retirees and for those who are interested in purchasing a second home or investment property.  The beautiful coastline, mild weather and easy style of living continues to be a wonderful place to call home!


Nancy Puder is the real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. If you have questions concerning your real estate needs, you may contact Nancy at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!

 

Tip to Sellers Regarding Home Inspections

 

 

 

 

Buying a home is one of the most significant decisions and one of the biggest investments a buyer will ever make. A home inspection will give the buyer a clear, unbiased evaluation of a home's condition, answer any questions the buyer may have, and help to give them peace of mind.

 

An inspection of the home they are considering will help them make an informed decision during the purchase process.  It will also provide them with the information they will need for any repairs and maintenance their new home may require.  A professional home inspection will allow them to buy with confidence.

 

To help prevent delays and uncomfortable situations after you are in escrow,  I suggest that you walk through your home and view it through the eyes of a potential buyer.  For instance, you may think that your over-sized jetted bathtub is pretty spectacular and one of your biggest selling points.  You may be accustomed to people exclaiming "aahhh!" when they walk into your luxurious master suite bathroom and feel pretty darn good about that selling feature.

It's been my experience, however, that once the novelty of the spectacular bathroom wears off, theses tubs are seldom used.   At some point, the property sells and the home inspector arrives on the scene. What is the first thing he will do?  Fill that big tub up with water and turn on the jets! 

Imagine the face of the buyer and your own mortification as you both witness green moldy things floating around!  Moral of the story?  Clean your jets BEFORE you put your house on the market and address any potential "issues".  

Most buyers are still excited about the pending purchase at the time of the inspection.  My advice is to eliminate any unnecessary reasons for your buyer to feel disillusioned before you can move forward  to a successful closing.

 

Nancy Puder is the owner/broker of Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. If you have questions concerning your real estate needs, you may contact Nancy at Nancy@NancyPuder.com or (805)710-2415 She always enjoys hearing from you!

Urban Real Estate Myths

In the crazy world of real estate, everyone seems to have an opinion or pre-set idea on how it all works.  Mainly because someone is always talking about real estate wherever you go.  Good market, bad market, shopping lines at the store, friends and family sharing experiences and giving advice and of course, the well-meaning but often inaccurate media.  Here are few common urban myths that should help you get a better idea of the real estate market.

 "We can always come down"

Truth - A well priced home will sell quicker and closer to market value, than one that is priced too high in the beginning.  Buyers today have access to the internet and do their own research on your property before they even come to see it in most cases.

 

"My neighbor says that we are priced too low for the neighborhood"

 

Truth - Your neighbor has an emotional stake in what your home sells for as it will affect how much their home is worth.  Let the professionals research your asking price based on facts.

"I heard prices are way up"

Truth - Yes it is true that in some geographical areas that were hit especially hard.  In other areas that remained more stable, price increases are more gradual.  Don't listen to generic or national statistics. Speak to a professional Realtor to determine was is going on in your own local market.

"I heard there is no money for buyers. Is that true?"

Truth - No. There is more mortgage money available than ever before.  Certain reality checks have been put back in place as opposed to pre-recession like the buyer actually has to have a job!

"I'm selling my home "as is".  That's the way they are taking it.."as is"

Truth - Yes, you have the right to sell your property "as is" as long as you disclose anything you know that may be considered a factor in the buyer's decision to buy and the buyer accepts your disclosures.  However, if issues arise during a home inspection, the buyer has the right to re-open negotiations.

Give me a call if you have any questions regarding your property.  I always enjoy hearing from you! 

Nancy Puder is the owner/broker of Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. If you have questions concerning your real estate needs, you may contact Nancy at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!