3 Reasons to Make 2015 Real Estate Goals Today

 

 

Do you confuse goals with typical New Year's resolutions?  Resolutions are born out of fleeting emotions, whims or a general dissatisfaction of where we are in life. People poke fun at resolutions because they are rarely kept.  The following year, the extra 20 pounds are still there and it seems like there is more debt than ever and so on.


A goal, on the other hand, is accompanied by serious thought as to why you want to accomplish that goal and then it always works best if you take the time to formulate a plan on how to get there. It's really not hard. In fact, the hardest thing about it is picking up the pen. If this is not you, perhaps you could share this with a friend!  


Here are 3 great reasons to make 2015 Estate Goals today.

• Avoid Procrastination

Are you a procrastinator?  Many of us don't like to admit it and some even brag about it. It's hard to believe, but before you know it, we will be halfway through this year and well on our way to 2016. If you have been thinking about selling a property or purchasing one in 2015, take the first step by making the goal and write out your plan.  This is as simple as making a short list starting with what you need to do first. Put that first step on your calendar and be sure you follow through.

 

• Get in the Game

Are you always lamenting about and living in the past? It's time to accept the current state of the market and get in the game. I hear people moaning about how much they could have sold their home for several years ago and just will not let that number go. What they often don't realize is that while they are focusing on the past, the present is here and ripe with new opportunities. Others are holding onto the hope that prices will decline and they want to wait for a better deal to come along. The truth is that this is a great time to buy or sell. Remember if you don't play, you can't win.

• Enjoy the Benefits

Aside from the wonderful feeling of making a goal and accomplishing it, owning your own home allows you to keep more of your hard earned money at the end of the year instead of giving it over to Uncle Sam. If you have needed to downsize or move up for awhile now, imagine how great it will be to have finally taken the steps to do that. Will the family be happier and will you be in a better financial place once you have taken the necessary steps?

 

My initial consultations are always FREE. If you would like to have a "no obligation" discussion about how to set a real estate goal, implement a plan or just talk to someone who understands the real estate market, call, text or email me at (805)710-2415 or nancy@nancypuder.com.

 

Nancy Puder is a real estate broker with Nancy Puder & Associates, which is a premier real estate boutique company in Arroyo Grande. Nancy Puder is one of the largest listing brokers on the Central Coast. You are invited to contact her with questions concerning your property anytime as she always enjoys hearing from you!  Text or phone (805)710-2415 or email Nancy@NancyPuder.com.  To enjoy other real estate articles written by Nancy, go to www.NancyPuderAssociates.com or Facebook.com/Nancy Puder Realtor

 

3 Costly Mistakes Homeowners Make

Not Using Bathroom and Laundry Vent Fans

Because of the high humidity in bathrooms and laundry areas, vent fans should never be disconnected or unused.   The fan should always be turned on during use of the room even if it is noisy. Failure to use vent fans can result in water vapor getting into the drywall, electrical outlets and even the framing members. Over time, mold, mildew and fungi may grow in these areas. Water vapor that condenses on walls and windows can eventually find its way into the walls of the home and weaken the structure through dry rot. Rooms where humidifiers are used should also be well ventilated. Tip:  If you are not using your fan because of noisiness, I suggest that you have the fan replaced with one that is advertised as low noise or quiet. Fans are relatively inexpensive and in the long run could save you thousands of dollars in moisture related repairs.

Overloading Upper Cabinets

When stacking heavy dishes and glassware in an upper cabinet, a homeowner can load the cabinet beyond its capacity. This can result in sagging shelves, or worse yet, detachment of the cabinet from the wall. Heavy china and cookware should always be placed in the lower cabinets. Do not overload cabinet drawers with heavy items and take care to not pull drawers out too far. This can result in the plastic guide being snapped off at the back of the cabinet drawer.  Tip: Lower cabinets rest on the floor and are a better choice for storing heavy items.

Tinting Dual Pane Windows

Homes with dual pane windows (also known as double-glazed windows or insulating windows) have two panes of glass that are separated by a spacer up to 5/8 inch in thickness. The air space between the dual panes is “dead air.” This area is so tightly sealed that air can neither enter nor leave the space. By placing a tinting film on the inside of the window, the sun’s rays are reflected back into the dead air space. The temperature in this space can become so hot that it may cause the elastic seal to rupture, causing the insulating value of the window to be lost.  Windows with broken or ruptured seals are easy to identify: they have moisture between the panes of glass. Homeowners should never tint a dual pane window on the inside unless it is specifically approved by the window manufacturer.

Nancy Puder is a real estate broker with Nancy Puder & Associates, the premier boutique real estate company in Arroyo Grande. You are invited to contact Nancy with questions concerning your property anytime as she always enjoys hearing from you!  Text or phone (805)710-2415 or email Nancy@NancyPuder.com.  To enjoy other real estate articles written by Nancy, go to www.NancyPuderAssociates.com or Facebook.com/Nancy Puder Realtor.

 

Realtors Urge Congress To Support Home Ownership

 

Recently, the National Association of Realtors told the U.S. Senate Banking Subcommittee on Housing that Congress and the administration must address key issues in order to create a healthy real estate market that helps current and future homeowners as that will drive the national economy forward. 

“The housing market hasn’t been this unwelcoming to first-time buyers since 1987,” said 2014 NAR Conventional Finance and Lending Committee Chair Mabel Guzman, broker for AT-Properties in Chicago. “Tight credit, high fees and low inventory have combined to make it prohibitively expensive for millions of responsible, creditworthy prospective buyers to own a home. If this is the direction that the housing market is taking, we’re headed down the wrong path.”

Realtors report that home prices and sales, as well as household wealth, are all up from a year ago, but  constrained access to mortgage credit for minorities, young buyers, and low-and moderate-income earners remains a serious problem.

NAR says that restrictive pricing policies at the Federal Housing Administration and the Federal Housing Finance Agency continue to disparately impact individuals with shorter credit histories and lower down payments, making it harder for them to buy a home.

One significant issue is that according to NAR estimates, nearly 400,000 creditworthy borrowers were priced out of the housing market because of high FHA insurance premiums in 2013.

NAR supports developing policies that will provide potential buyers with access to more flexible and affordable financing opportunities and a wider choice of approved condo developments.  Currently the majority of condo financing is hard to get for any buyer which makes no sense to me at all.

While in Washington, NAR also called on Congress to offer permanent help for those who short sold in 2014 so that these same homeowners can re-enter the market now and continue to have taxation relief. With the current policies, a vast majority of homeowners are being hit hard.  First with a staggering loss of equity and forced to short sell and then again, not being allowed to re-enter the housing market for an unreasonably long period of time.

“Most urgently, Congress should take action to help all of the distressed homeowners who completed short sales in 2014 by passing the Mortgage Forgiveness Tax Relief Act. This bipartisan legislation will extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe,” said Guzman. “If this provision is not extended, hundreds of thousands of American families who did the right thing by short selling their home will have to pay income tax on ‘phantom income.’”

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, call or text Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

California Housing Forecast

Home prices are expected to rise in 2015.  The number of sales for existing homes is expected to also rise. This is good news for homeowners who have waited a long time for their home equity to be restored.  While many owners have seen their equity return since the recession, there is still a significant number those who have yet to see home values increase to at least the amount at which they had originally purchased.

In a report released by the California Association of Realtors this week, it is summarized that "Existing single family homes sales are projected to decrease 8.2 percent from 2013 and are forecasted to increase 5.8 percent in 2015. Also, the annual median price for 2014 is expected to rise 11.8 percent year over year and will further increase by 5.8 percent in 2015."

 

Home sales spiked upward in 2013 and have since decreased, however, they are on the way back up. Job growth is slowly improving and home prices will be going up at a healthy pace which is what we want to avoid another bubble.

 

If you would like to discuss your real estate needs, whether buying or selling, call me anytime. I always enjoy hearing from you!

 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder &Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com /Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

 

3 Steps To Buy a Home in 2015

You have made the decision that you are going to buy a home in 2015 no matter what!  This is either your first home purchase or perhaps you have been out of the real estate market for a few years due to a foreclosure or a short sale. Whatever your reason is to enter the housing market in 2015, now is the time to get started!

Contrary to what you may think, if you wait until January or February, you probably won't be into a home until at least March or April. By then, you will have missed out on 25% of your potential mortgage deduction for 2015 taxes. In addition, if you take some basic steps now to get started, you can avoid unexpected issues that may arise causing unnecessary disappointment and stress.

Here are a 3 simple steps that you can take now to help you start the home buying process.

1.  Check your credit score - When you purchase a home, the mortgage lender will collect your credit information from different sources. Go to www.myfico.com to read about how credit scores work. You can sign up for a monthly monitoring system if you wish or for a free report you must order from all 3 of the following www.Experian.com, www.Transunion.com, www.Equifax.com. These are the three major credit reporting agencies that your mortgage lender will order from. Ordering from these companies should not affect your credit score and you are entitled to one free report per year.

2.  Get some referrals to a local mortgage company. Your choice of who to use for your mortgage is a critical one.  Be careful not to "chase" the interest rate and I will caution you not to make the interest rate the deciding point on which lender to use.  Rates change several times per day and an honest lender will tell you that.  Realtors will also tell you that the biggest reason sales don't go through is because of lenders who do a great sales pitch in the beginning but don't deliver when it's time to close.

3. Speak to a trusted real estate broker. There are few agents in any area who really run a professional estate business and will deliver you exceptional service.  Unfortunately, many people don't realize that and hire anyone with a license to help them with the biggest investment of their life!

 

If you would like to discuss your real estate needs, whether buying or selling, call me anytime.  I always enjoy hearing from you!
 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com. You may also go to Facebook.com/NancyPuder Realtor and "like" her page to access other real estate related articles.

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 home buying 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 the Realtor's priority.  If you have been pre-approved for a mortgage, know how much you can put down, understand and accept how much you will have to pay for a mortgage, then most Realtors will be happy to spend time finding you the perfect home.

If you are just testing the waters, still saving for a down payment or can't qualify at the present time, it's best to go to open houses as opposed to a private outing with an agent.  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, agents will ask you upfront if you’ve been pre-approved 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 willl continue to be available to answer questions along the way.

Nancy Puder is a Realtor Broker in Arroyo Grande, CA with Nancy Puder & Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email nancy@nancypuder.com.  Nancy always enjoys hearing from you!  Go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles. 

She always enjoys hearing from you!

 

Santa Will Be Coming Soon

With the holiday season rushing in, many home sellers are already withdrawing their homes from the market. That seems reasonable if the homeowner has small children and wants to simply embrace the joy of the season or if they have relatives coming in from out of town during this "merry time" and don't want the disruption of buyers walking through the home.

 

What surprises me is when a seller withdraws the home from the market because they have heard that no one is looking for a home during November and December.  The fact is that motivated buyers usually DO continue to look at homes during the holiday season. The buyers that stop looking during this time are the ones that are the least motivated and who really cares if those buyers come through the home anyway? The idea that a home won't sell from mid-October through December is a myth. 

 

Savvy sellers realize that although buyer traffic may slow down during the hustle-bustle of the season, a unique opportunity emerges for their home to stand out because of less competition.  

 

If you would like to discuss whether your home should be put on the market now instead of waiting until spring when everyone else is putting their home on the market, call or email me to discuss the pros and cons of when to begin the marketing of your home.  Initial consultations are always free of charge.

 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

How to Get Your Home Sold

When selling your home, make sure that it is priced correctly.  Sellers who decide to "try" a higher price, sometimes end up trailing behind other comparable properties and actually end up receiving less in the end.

 

Pricing your home correctly from the beginning is the best way to attract buyers, but a marketing plan can be effective with strategic price reduction.

 

• If your home has been on the market 30 - 60 days with little activity or no offers, it may be time to lower the price to appeal to active buyers in your area.

 

• Don't wait to long to make a price adjustment if prices have fallen in your neighborhood since your home came on the market. If you wait too long, competing properties may decide to lower their price first, making your home less attractive to buyers.

 

• Remember that the longer your home sits on the market, the more it is perceived as undesirable. Buyers may think there is something wrong with the property even if it was because it was simply overpriced next to the competition.

 

• Delaying a price reduction could end up costing you. If the property takes longer to sell, you will still continue to pay mortgage, taxes and maintenance costs etc.

 

• Consider offering an incentives such as a home warranty or paying the association fees for one year in advance.

 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

Lender Competition Good News for Buyers

Lenders are beginning to compete for buyers while easing some of the tight restrictions that have contributed to the slow housing recovery. The spotlight on the mortgage industry over the past several years showed that as a whole, lenders had become careless in their lending practices.   

 

The number of homeowners who lost their home due to foreclosure or took a heavy hit on their credit mainly because of irresponsible lending was staggering.  To "fix" the problem, the pendulum swung far to the other side, which has made it unreasonably difficult for buyers to buy a home and for sellers to refinance at all.

 

Thankfully, a little bit of sanity along with a semblance of logic, is beginning to return and buyers and sellers should experience more positive experiences in the near future when applying for a mortgage loan. 

 

Recently, Wells Fargo announced that they are lowering the minimum credit score required on Fannie Mae loans and are now willing to consider "compensating factors" regarding negative credit.

 

We are also seeing lenders begin to vie for customers with a lower credit score and a smaller down payment.  In addition, more lenders are willing to allow borrowers to use a gift for a down payment. These are big steps in helping the industry return to normal and for the pendulum to swing more to the center.  

 

As lenders relax some of their guidelines by not just lending to those with 20% down payment and with pristine credit, more buyers will be able to enter the market and this should significantly improve the housing recovery.

 

If you have been turned away for a mortgage purchase loan or a refinance over the past year or two, it may be time to re-apply for a mortgage to see if you could qualify today.

 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder &Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

 

Millennials Entering Housing Market

While millennials (those born 1982-2005) often get a bad rap and are sometimes referred to as lazy or "entitled", they should not be overlooked as a vital part of our housing market This newest generation of 86 million is coming of age and many are interested in home ownership.  It is true, that as a whole, millennials are leaving home later and waiting until their 30's to get married but recent data supports that they constitute a large number of homebuyers in the very near future.


It brings a smile to my face when I see the "baby boomer" generation shaking their head in disbelief as they observe the ways and mannerisms of many young people today.  Yes, I will secretly agree that the tattoos alone are enough to send one over the edge at times. As a boomer myself, though, I remember how horrified our parents were during the 60's and 70's when the boys stopped cutting their hair, the girls didn't wear makeup or shave their legs and the the world seemed to turn upside down.  We got through those times, figuring it all out along the way and and I have faith that this new generation will, not only surprise us old boomers, but will most likely far exceed our own accomplishments.


 Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

 

More Down Payment Help For First-Time Buyers

Recently, CALHFA, the California Housing Finance Agency, announced their plans to provide additional down payment assistance for first time homebuyers.  The additional amount will be $6,500 according to a recent report.  The assistance will be provided through the CalPLUS Conventional program.  The agency continues their efforts to help first time homebuyers step into the real estate market.

 

Currently, the CalHFA Zip Extra down payment assistance program reduces the amount of money needed to purchase a home for buyers who may not have enough funds for a large down payment and closing costs.

 

This new program which has already begun will include the additional $6,500 on top of the 3 percent down payment it currently offers as part of it's CalPLUS Conventional with Zero Interest Program (ZIP).  The ZIP program provides 3 percent of the loan amount at 0 percent interest on a fixed rate 30-year mortgage.  The additional $6500, ZIP Extra, is zero percent interest also.

 

An added benefit to working with CALHFA is that their various programs can be combined.  This new assistance is available only for first-time home buyers.  Although non-first-time buyers are not eligible for this latest addition to the program, it is important to discuss all possibilities of financing with a trusted LOCAL lender.  

 

You are welcome to contact me anytime with your real estate questions. I always enjoy hearing from you! Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

 

 

 

 

 

 

 

Staging Mistakes To Avoid When Selling

Staging often makes the difference on how easily your home will sell. Sellers should be aware that poor staging will sabotage your efforts more times than not.   Here are tips on how to avoid mistakes when staging and how to get your home "picture ready" and appealing to buyers.


One of the biggest tips I give to my clients is to simply unclutter.  It seems like everyone is eager to get started with the "staging" part but often don't understand the de-cluttering process is the most important part of staging. Sometimes after removal of excessive stuff in the house, we find that is all we needed to sell the home. 


Once the home is decluttered and cleaned thoroughly, be careful not to start adding items without some guidance from a great agent.  Here are some common mistakes that I too often see sellers make.

• Boring

The goal of staging is to get the buyer to feel like the home always looks like this, and at the same time, make it real.  If the home is too perfect and looks completely un-lived in, it can deter a buyer. Some buyers feel that their stuff will never look as good in the home and begin to step back. Of course, boring is better than over cluttered, but color accents here and there will make your photos pop.  Just be careful not to go overboard.

• Scents

Don't overdo it with air fresheners.  Too much scent will make a buyer suspicious of what the seller might be trying to cover up.  In addition,  fresheners can be so strong that everyone can't wait to get out of the house!  The home should smell fresh and clean.  Subtle scents are nice but be sure that it is not heavily perfumed.  A good choice is to invest in a deep cleaning to remove lingering odors and be careful not to cook anything too potent while the house is listed for sale.

• Music

Music can be tricky because of varying tastes. Definitely, do not use radio tunes if the station tends to get static. You can count on the station to choose the showing period to be at it's worse.  I have shown homes myself with annoying radio static in the background.  Everyone present usually just wants to get away as quickly as they can, no matter how nice the house is.  Something low and neutral in the background can be effective.  It's always better to have no music at all if you are unsure of which music to play.

• Move and Leave Things for Staging

It's amazing how many sellers will take their favorite items to their new home and leave a few things behind and call it staging.  Trust me when I say this is rarely is a good idea.  Staging is an art, especially in a vacant home.  When the home is vacated, take everything and then go back and stage with your best items, not with what is left over.  A couple of forlorn pieces of furniture sitting in an empty room especially with dated "wall art" is a staging disaster.  Either leave the home well furnished and looking lovely or leave it completely empty...not somewhere in between.

• Throwing Money Away on Bad Renovations

My best tip on this is to get advice from a great agent BEFORE renovating. It can be hard to know which renovations will give you the best return on your investment.  It is critical to speak to an agent "in the know"  before spending a lot of money, and I strongly suggest that you do not depend entirely on television programs for guidance. Inexpensive new cabinet hardware or new light fixtures might go a long way toward making the home feel up to date and may help you avoid spending thousand of dollars.

• Remove the Clutter Don't Just Rearrange

If it is too much trouble to remove the extra clutter off the property, at least box it up and put it all in a corner of the garage. Stand in the middle of each room and slowly look at small segments of each room.  If you see objects that don't enhance the room, remove them.  Liquid soaps, sponges, tooth brushes, electric shavers etc. are either unsightly or too personal when showing the home.  Keep them in the cabinet or drawer. My pet peeves...white plastic trash cans in the kitchen and toilet seats left up.  If you have nowhere to put your trash can, don't advertise it and please be sure to put your toilet seats down, especially for your pictures!

If you are thinking of selling your home and would like some advice on how to get it ready to sell, call or email me anytime.  I always enjoy hearing from you!   


Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder & Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

5 Great Tips for Home Buyers

1.  Get Your Credit in Shape  

If you plan to finance your home purchase, check your credit history, especially if you're a first-time buyer.  That way, you can correct any errors, and take measures to boost your credit score.  Order one free credit report a year from Annualcreditreport.com

 

2.  Get Pre-approved For a Mortgage 

Early in your search, meet with a mortgage lender who will take a look at your credit history, your savings and investment statements and your current financial situation.  This will give you a better picture of what you can afford and the financing options available.

 

3.  Establish your Budget

Whether you're financing your purchase of paying cash, it helps to establish a budget.  This will help you focus your search on great homes within your price range.  

 

4.  Make a List

Buying a home is a process of elimination, not a process of selection.  Make a list of your ideal home's must haves and deal breakers.  This will help you to narrow your search so that you can find a home that fits your current and future needs.

 

5.  Think About Resale

 The average homeowner lives in their home for nine years. While you may purchase your home as a long-term investment, keep in mind that you may need to sell it one day.  Consider the home resale value when you're looking at properties.

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. at Nancy Puder &Associates. If you have any questions or concerns regarding your own property or a home purchase, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com. Our highly skilled team of agents is always ready to help you with any of your real estate needs, no matter how big or how small.

 

Go to Facebook.com/Nancy Puder Realtor and "like" her page to access weekly real estate related articles.

 

 

 

 

 

Rents Are Sky-Rocketing

Since the recession many past or potential homeowners have chosen to rent a home rather than buy.  Because of this scenario, there has been an increased demand for rental homes, creating a shortage of homes available, and as a result, rental rates have sky-rocketed.

 

Some of the reasons people have been choosing to rent rather than buy a home include insecurity about job, the loss of a job, damaged credit, short sale, foreclosure or loss of equity.  Another reason has been an overall loss of confidence in the real estate market.

 

During and immediately after the recession it made sense for some people to rent a home until they could get back on their feet.  With the recent improvement in the overall economy, however, the decision to rent vs. buy should be re-evaluated, and probably be done soon.

 

Several housing studies conducted this year, reinforce the fact that owning a home is still less expensive than renting.  According to Trulia's 2014 Renting vs.Buy Report, this was the case nationally and in each of the 100 metro areas.  Assuming a 30-year fixed mortgage rate of 4.5 percent, buying is 38% cheaper, nationally than renting. These numbers vary according to region.

 

Renters who might mistakenly think that homeownership is out of reach, would benefit from speaking to a real estate professional to get the real facts about where the market is right now and how to begin the process of home ownership. It may be a good idea to ask yourself "why pay someone else's mortgage when you can own your own home?"

 

Take the first step and speak to someone who is knowledgable and interested enough in you to help get you on the right track if you are not ready to buy today.  It is not as hard as you may think it is to buy.  With focus and determination and someone to help guide you along the best path, you would be surprised at what can be accomplished in a relatively short period of time.  Believe me when I tell you that the road to buying will be much shorter with a plan in place.

 

If you are ready to get out of the rental market and become a homeowner, call me at (805)710-2415 or email me Nancy@NancyPuder.com to discuss the benefits of homeownership and to get the facts on today's real estate market.

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder & Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

Why Now Is A Great Time To Sell

 

A lot has changed in the real estate market over the past several years.  If you are like a lot of other homeowners, you may have postponed the idea of selling your home for various reasons.  Here are some questions to ask yourself if you are thinking of selling.

 

• Has your family situation changed or will it in the near future?

• Do you want to move closer to family and friends?

• Does the area where you live no longer suit your needs?

• Does your home no longer meet your space requirements?

 

• Do you foresee a job relocation?

 

• Do you just want a change?

If you answered yes to any of these questions, now may be an excellent time for you to sell your home.

 

Existing home sales have risen 20% since 2011.  Factors contributing to this rise are increased job growth, lower interest rates on mortgages and small inventory.  It's interesting to note that, historically, the average homeowner stayed in their home for 5 years. Recent statistics show that the average stay in one home has risen to 9 years.

 

Before making the decision to put your home on the market, be sure to speak to a local real estate professional who is actively selling homes and can show you a track record of success.

 

Nancy Puder is a Real Estate Broker in Arroyo Grande, CA at Nancy Puder & Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

5 Tips for Sellers

Here are 5 tips for sellers whether you are selling now or in the near future.

 

1.  Clear the Clutter - Before you put your home non the market, clear the clutter that has accumulated over the years.  Tackle one room at a time and divide your items into 3 piles.  One to keep, one to donate and one to toss!  

 

2.  Get Packing - Of course you don't want to pack everything but it helps to start boxing up the items that you want to keep but won't use for awhile, like seasonal clothing or sports equipment. Some personal items make your home feel cozy and like an actual home, however, a little goes a long way with a future buyer.  Pack most of your sentimental and valuable items away so that the buyer can emotionally picture themselves living in your home.

 

3.  Do Your Research - Have an active and experienced agent research your neighborhood so that you know what homes are selling and also to get an estimated time frame on how long it will take to sell your home.

 

4.  Repairs and Improvements - Curb appeal is always very important.  Do minor repairs and improvements inside and outside your home.  Tackle necessary repairs, paint your walls a neutral color and replace light fixtures that are damaged or out of date.  Don't forget to clean as you go.  It's much easier to enjoy the view if the windows are clean!

 

5. Be Realistic - A seller who is realistic about the selling process, experiences much less stress when selling their home.

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder & Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

Buyer's Confidence Up But Not Enough

 

While buyer confidence has increased significantly during the recovery and caused home prices to significantly swing upward, we are not yet back to "normal" levels in the housing industry.   Granted, the real estate market, in general, has been brisk and there has been renewed hope and a lot of excitement.   Then things slowed down and perhaps you are wondering why.  

 

According to Fannie Mae's June 2014 National House Survey, consumer confidence in the housing market has increased significantly, but it is still not enough to bring the market back up to "normal" housing levels.

 

Chief economist and SVP of Fannie Mae commented this month that "the uptick in the share of consumers expecting mortgage rates to go up (55 percent) and the accompanying decline in home price expectations (the average 12-month home price change expectation fell to 2.4 percent) reflect the pause in activity in the housing market so far this year."

 

Before making any real estate decision, it is more important than ever to consult a local Realtor who is up to date on what is going on in your market.  If you have any questions concerning your own real estate needs, call or email me anytime.  I always enjoy hearing from you!

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder & Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com Nancy Puder Realtor and "like" her page to access other real estate related articles.

 

 

Negotiating the Sales Contract

 

Q. My husband and I made an offer on a house which we really like.  We were wondering, though, if we find another house that we like better, during the escrow period, can we cancel the contract?  My husband says that we can but it doesn't feel right to me.

 

A.  Buyers should understand that when an offer is made and accepted by all parties involved, that it is a contract and everyone involved is expected, whether legally or morally, to act in good faith. A well-written sales agreement will allow contingencies for the buyer to get a loan, have time to investigate the condition of the property or the area they are buying in and for the home to be formally appraised at the purchase price.  These are the most common contingencies, however, other issues can be agreed upon also.  

 

A well-written sales contract will have a specific time period written in that the buyer must adhere to. At the end of the time period, the buyer is required to remove their contingencies or cancel the contract, based upon their inability to obtain satisfaction  in the area of investigation, obtain the loan or if the property appraises lower than the contract price.  In most cases, if this occurs, negotiations are re-opened, buyer and seller come to an agreement and the property then moves to a successful closing.  This is the way most transaction go and is a fair way to do business.

 

At the time of submitting the offer, buyers should be fully committed, barring unforeseen circumstances.  From a legal standpoint, buyers need to understand that what they are signing is a legally binding contract. Your agent may tell you that there are ways they can get you out of a contract, but buyers should consider how their attitude when entering the contract and the decisions they make are affecting everyone.

 

Often, the buyer and seller do not actually meet during the escrow period for a couple of reasons.  Keeping the distance between the buyer and the seller allows the agent to objectively negotiate the needs of both parties.  This widely accepted process minimizes the emotional effect that many buyers and sellers experience during negotiation and escrow.   Another reason is that nowadays, so much business is conducted with the use of technology, there is no need to meet in person. Sometimes even the buyer and seller agent don't meet face-to-face during the entire escrow period.

 

Perhaps because of these reasons, buyers are becoming desensitized to the effect that "changing their mind" will have on a seller and their family.  Imagine receiving an acceptable offer which is due to close escrow in 30-45 days.  The loan is going well, the appraisal has come in (or at least everyone is confident it will come in at the right price) and the buyer is happy with their investigations.  You, the seller, have finally found another home to either buy or rent, made arrangements for a truck to help move the family in 2-3 weeks,  arranged for the kids' schooling, spoken to utility companies, the list goes on and on.  Then the buyer simply withdraws their offer at the end of their contingency period because they have found another home that they have decided they like better or just decided to wait.  How would you feel?  Now your life has been turned upside down and you need to start over. 

 

During the recession, making offers randomly and then backing out was a common occurrence. Many buyers felt no moral obligation because they weren't really dealing with "people" but just the banks through foreclosures and short sales.  Now the recession is over and most sales these days are regular saleswith regular people.   

 

Naturally, there will be some real circumstances where a buyer needs to withdraw an offer and this article is not intended for those situations.  My intention in writing this it is to simply encourage buyers to have the right attitude and level of commitment BEFORE signing the offer.  Remember the Golden Rule. Do unto others as you would have them do unto you!

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder &Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.