It seems that every day when we open the newspaper or watch the news that the lead story is about the slumping housing market. Falling home prices, foreclosures, tightening credit standards. . . etc., you can almost hear Chicken Little screaming "the sky is falling"!The truth of the matter is that this market correction has created all kinds of opportunity for alot us.
First time home buyers who thought the market had passed them up for good have seen prices come down to where home ownership is now a realistic dream. There are some excellent loan programs available to first time home buyers to help them achieve the American Dream. The California FHA loan program is an excellent example.
And the news is not all bad for existing home owners. Yes, in most cases our homes have lost some value over the last couple of years. But the good news is that for those of us that want to move up into a home priced higher than our existing one, those homes have dropped in price too! And in many cases they have come down farther percentage-wise than the homes we currently own.
For investors, the time for opportunity is NOW! Perhaps you always wanted to buy a home and rent it for income and future equity. These opportunities are everywhere you look.
The point is this. There is actually some GREAT news in all this doom & gloom we have been exposed to by the media!
Friday, October 26, 2007
Wednesday, September 5, 2007
Value of a good mortgage consultant
With the latest news of the faltering loan sector of our economy, a reputable mortgage consultant has become as important as ever. Most of us do not have the ability to pay cash when making a purchase of a home and it is the mortgage consultant's job to find the best loans to consider for a client looking to purchase a home. The doom and gloom news we have been reading about has actually been good news for those looking to borrow money. Loan companies are now under a microscope to help pretect the buyer!
When Kim & I have open houses for our listings we try to have a loan partner available at the open house. Quite often we have folks who come to see our homes and they really have no idea as to what they can or cannot afford. Neither our loan partners nor ourselves are out to just make a quick sale, our reputations are too valuable. Any decision must be made on sound business principles. The buyer must be completely comfortable and clear with their financing program.
So here is to our loan partners, thanks for providing your much needed assistance!
When Kim & I have open houses for our listings we try to have a loan partner available at the open house. Quite often we have folks who come to see our homes and they really have no idea as to what they can or cannot afford. Neither our loan partners nor ourselves are out to just make a quick sale, our reputations are too valuable. Any decision must be made on sound business principles. The buyer must be completely comfortable and clear with their financing program.
So here is to our loan partners, thanks for providing your much needed assistance!
Tuesday, August 28, 2007
Agent/Broker Caravans
Today, after the Sacramento Association of Realtors Regional meeting, my wife & I participated in theAgent/Broker Caravan. This is chance to allow us to show our listings to our peers as well as a chance to see their listings. We get to see the competition and we get a chance to get some valuable feedback to give back to our clients.
Although it might sound obvious, actually seeing properties is one of the most valuable things we can do as agents. Sure, we can see so much on line these days but nothing replicates the in person experience. And in the caravan environment we see the properties in a different light than we would if we were out showing a client. We can see the homes on our own terms and get feedback for ourselves as well as our clients. When Kim & I aren't busy we often pick an area and go look at homes to keep us sharp. But living as husband and wife, our tastes are usually quite similiar (except she doesn't like sports, kraft macoroni & cheese, nor the 3 Stooges . . . why oh why did we ever get married), so it is refreshing to get other opinions from other agents.
So, when you decide to get us to list your home to sell, we will get it on an agent/broker caravan regardless of where you live!
Although it might sound obvious, actually seeing properties is one of the most valuable things we can do as agents. Sure, we can see so much on line these days but nothing replicates the in person experience. And in the caravan environment we see the properties in a different light than we would if we were out showing a client. We can see the homes on our own terms and get feedback for ourselves as well as our clients. When Kim & I aren't busy we often pick an area and go look at homes to keep us sharp. But living as husband and wife, our tastes are usually quite similiar (except she doesn't like sports, kraft macoroni & cheese, nor the 3 Stooges . . . why oh why did we ever get married), so it is refreshing to get other opinions from other agents.
So, when you decide to get us to list your home to sell, we will get it on an agent/broker caravan regardless of where you live!
Thursday, August 9, 2007
Want Folks to Want to BUY your Home?
Kim & I just got a new listing. Okay, it's our listing so we are naturally biased. But that being said, this home is in fantastic shape! The owner and our client has clearly respected this home through the years! And she understands the need to make it "MODEL" home ready.
It is Kim's job to advise our clients what needs to be done, she is very sharp when it comes to presenting a home. Well, in this case our client had done an outstanding job of getting the home ready to sell. But as Realtors, we have to put in our 2 cents and Kim did. There really wasn't a whole lot that Kim suggested the seller should do, the seller was already on top of it! But, there were a few details. They may seem small, but as a realtor we understand how HUGE little details are. If we list your home, please don't be offended, but do something with as many of your knicknacks as possible (in the long run, it is well worth it to rent a storage place). And please KEEP YOUR BATHROOM CLEAN!
Well, our client was way on top of this stuff, and her bathroom was of course clean. So, as we like to do, we took the seller out to see her competition on the market! Oh My God, do these people want to sell their homes? So much of what we saw was cluttered, dirty, smelly, . . . I could go on and on. Our client whose home we have listed wanted to "take a shower" after seeing her competition. She was kidding, I think.
My point is this, if you are selling your home, MAKE IT AS MODEL HOME READY AS POSSIBLE! Pack up as much as possible and put it into storage. If you want to know what needs to be done, just ask KIM JONES. And you'd be smart to clean the bathroom before we come over to give our advise!
It is Kim's job to advise our clients what needs to be done, she is very sharp when it comes to presenting a home. Well, in this case our client had done an outstanding job of getting the home ready to sell. But as Realtors, we have to put in our 2 cents and Kim did. There really wasn't a whole lot that Kim suggested the seller should do, the seller was already on top of it! But, there were a few details. They may seem small, but as a realtor we understand how HUGE little details are. If we list your home, please don't be offended, but do something with as many of your knicknacks as possible (in the long run, it is well worth it to rent a storage place). And please KEEP YOUR BATHROOM CLEAN!
Well, our client was way on top of this stuff, and her bathroom was of course clean. So, as we like to do, we took the seller out to see her competition on the market! Oh My God, do these people want to sell their homes? So much of what we saw was cluttered, dirty, smelly, . . . I could go on and on. Our client whose home we have listed wanted to "take a shower" after seeing her competition. She was kidding, I think.
My point is this, if you are selling your home, MAKE IT AS MODEL HOME READY AS POSSIBLE! Pack up as much as possible and put it into storage. If you want to know what needs to be done, just ask KIM JONES. And you'd be smart to clean the bathroom before we come over to give our advise!
Saturday, August 4, 2007
Walking the Neighborhood
Today, Kim and I spent our morning walking our neighborhood door to door to connect/reconnect with our neighbors. I have to admit, I enjoyed it a lot more than I thought I would.
Our purpose was twofold. To get to know the people in our neighborhood better and to get out the word that we are Professional Realtors. While we would be more than happy to obtain some new clients, our main purpose was really to just to connect with the neighborhood we are a part of. We are very proud of our neighborhood. Our homes were built in 1987-1988 and we are very close to our sons' elementary school which is a designated California Blue Ribbon school.
We set off with a postcard we created about our services and we agreed that we would not be one of those pushy sales people that show up on our doorstep from time to time. Sure, if someone wanted to discuss the market we would be happy to do so. But we decided if we got any feeling that the person wanted to be left alone, we would do so.
It turned out to be a great day! Met lots of nice folks and we feel better about our neighborhood than ever. If someone wants to use us as their Realtor that would be terrific. But it was especially nice to get to know our neighbors better.
Our purpose was twofold. To get to know the people in our neighborhood better and to get out the word that we are Professional Realtors. While we would be more than happy to obtain some new clients, our main purpose was really to just to connect with the neighborhood we are a part of. We are very proud of our neighborhood. Our homes were built in 1987-1988 and we are very close to our sons' elementary school which is a designated California Blue Ribbon school.
We set off with a postcard we created about our services and we agreed that we would not be one of those pushy sales people that show up on our doorstep from time to time. Sure, if someone wanted to discuss the market we would be happy to do so. But we decided if we got any feeling that the person wanted to be left alone, we would do so.
It turned out to be a great day! Met lots of nice folks and we feel better about our neighborhood than ever. If someone wants to use us as their Realtor that would be terrific. But it was especially nice to get to know our neighbors better.
Tuesday, July 31, 2007
Value of a Home Inspection
A very important step in the process of buying a house is the home inspection. This usually takes place shortly after the acceptance of an offer and is usually initiated and paid for by the buyer. A typical home inspection costs costs between $250 & $400 depending on the size of the home.
The primary focus of the home inspector is to evaluate the "bones" of the house and present the buyer with an analysis of the home in question on a room by room basis as well as the outside - front, back and sideyards. The inspector prepares a report complete with pictures and recommendations on items in question. This report is usually the basis for any request for repairs made to the seller by the buyer. The seller must decide which if any of the requests to act on.
These days more and more sellers are being proactive and having a home inspection done on their own property as they prepare for the sale of their home. This approach allows the seller to deal with the issues on their own timetable and it avoids unexpected surprises that could potentially prevent a deal from going through after it is in contract.
Buying or selling a home is a huge task and the value a home inspection provides is highly recommended.
The primary focus of the home inspector is to evaluate the "bones" of the house and present the buyer with an analysis of the home in question on a room by room basis as well as the outside - front, back and sideyards. The inspector prepares a report complete with pictures and recommendations on items in question. This report is usually the basis for any request for repairs made to the seller by the buyer. The seller must decide which if any of the requests to act on.
These days more and more sellers are being proactive and having a home inspection done on their own property as they prepare for the sale of their home. This approach allows the seller to deal with the issues on their own timetable and it avoids unexpected surprises that could potentially prevent a deal from going through after it is in contract.
Buying or selling a home is a huge task and the value a home inspection provides is highly recommended.
Sunday, July 15, 2007
Keeping up with my better half
Dear Kim
I have to say you set a high bar with your real estate moment. Looking over your postings I see great value in your insights. In my desire to "keep up with the Joneses" (I was a Jones first ya know), I pledge to chronicle my own adventures as a professional realtor.
The most important value we have to offer to our clients is the daily experience we have in "the trenches". Since the market changes on a daily basis it is our responsibility to keep our clients up to date with the market so we can provide professional guidance that results in informed decisions.
Your partner in life,
Scott
I have to say you set a high bar with your real estate moment. Looking over your postings I see great value in your insights. In my desire to "keep up with the Joneses" (I was a Jones first ya know), I pledge to chronicle my own adventures as a professional realtor.
The most important value we have to offer to our clients is the daily experience we have in "the trenches". Since the market changes on a daily basis it is our responsibility to keep our clients up to date with the market so we can provide professional guidance that results in informed decisions.
Your partner in life,
Scott
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