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.