This Thursday we will be having a Home Buyer's Workshop at our Prudential California Realty office in Elk Grove. The workshop will focus on educating our clients on the opportunities they have before them. Our in-house lender from The Home Loan Group will be discussing the different financing options available.
Yes, it seems like every day there is more news regarding the housing slump. Foreclosures continue to dominate the news and many analysts say we have yet to hit bottom. But you have to realize that when housing statistics are telling the story about the market 1-2 months ago. So pinpointed the bottom of the market is an inexact science at best. We really won't know the when the market has bottomed out until 6 months after it has bottomed out.
The smart buyers are getting their financing in order and preparing to take advantage of this opportunity.
Tuesday, February 26, 2008
Tuesday, January 29, 2008
Latest Housing Statistics from December '07
Today, the California Association of Realtors released the December '07 housing report. Yes, the report and statistics supporting it reflect continued fallout from the mortgage crisis and resulting fortclosures throughout California. The good news is that the stars are aligning and indicating that there is better news on the horizon for residential sales in our region.
The drop in mortgage rates, the huge amount of housing inventory and lower prices have combined to give folks an opportunity to buy when just 2 years ago it seemed like a dream. We are seeing multiple offers on homes we have been showing our clients this month. We are seeing a dramatic increase in applications for home loans. And, we are seeing our clients getting into contract to purchase and sell homes.
If you had been waiting for the market to hit "bottom", now is the time to start making your plans to act. We will not know when the market has hit bottom until 6 months after the market has hit bottom.
The drop in mortgage rates, the huge amount of housing inventory and lower prices have combined to give folks an opportunity to buy when just 2 years ago it seemed like a dream. We are seeing multiple offers on homes we have been showing our clients this month. We are seeing a dramatic increase in applications for home loans. And, we are seeing our clients getting into contract to purchase and sell homes.
If you had been waiting for the market to hit "bottom", now is the time to start making your plans to act. We will not know when the market has hit bottom until 6 months after the market has hit bottom.
Thursday, January 3, 2008
A New Year For Real Estate
We're fully operational to attack 2008 after a very enjoyable holiday season. Right after Thanksgiving, Kim & I headed off to Puerto Vallarta for a vacation. It was our first time alone since our daughter was born almost 2 years ago. We were able to relax for two reasons - Our daughter was in good hands with Grandma & our clients were in good hands with our Manager at Prudential California Real Estate!
We are convinced that 2008 will be a great year for both sellers and buyers alike. There are many signs of the market beginning to stabilize. Wonderful opportunities are available!
Happy New Year!
We are convinced that 2008 will be a great year for both sellers and buyers alike. There are many signs of the market beginning to stabilize. Wonderful opportunities are available!
Happy New Year!
Friday, October 26, 2007
The Good News about Housing Slump
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!
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!
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!
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