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.