Posts Tagged ‘Realtor.com’

Quick Tips For Pricing Your Home

determining an asking price for my homeWhen it comes time to sell your home, setting a realistic selling price is extremely important. Price it to low, and you may be leaving money on the table, despite getting extra interest from buyers. Price it too high, and your home risks becoming a “stale listing,” as it sits on the market with little interest.

· Consider nearby comparables. What have other similar homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?

· Consider the competition. How many other houses are for sale in your area? Are you competing against new homes?

· Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in a few months instead of a few weeks?

· Get an appraisal. For $400-500, a licensed appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute (www.appraisalinstitute.org) or ask your REALTOR® for some recommendations.

· Be accurate. Studies show that homes priced more than 3% over the correct (market) price take longer to sell.

· Know what you’ll take. It’s critical to know what minimum price you’ll accept before beginning a negotiation with a buyer. Of course, there could be other terms on the offer that may change this number. Your agent can guide you further on this during contract negotiations.

 

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

 

Don’t Stress Out When Buying A Home

Buying a home can actually be fun, not stressful. As you look for your dream home, keep in mindno stress these tips for making the process as peaceful as possible.

1. Find a real estate agent who you connect with. Home buying is not only a huge financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.

2. Just remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to time interest rates or the housing market by waiting longer — you risk losing out on a home you love. The housing market usually doesn’t change fast enough to make that much difference in price, however, a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it even harder to make a decision. Focus on the wants and needs of your immediate family — the people who will actually be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, but perhaps the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs some repairs. Make a list of your top priorities and focus in on things that are most important to you. Don’t sweat the minor ones.

don't stress out when buying a home5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to get that extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in all the physical aspects of the house itself — room sizes, kitchen, etc. — that you forget about important issues such as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Making an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers. Preparation goes a long way.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and not be able to afford upkeep.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a huge financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you bought.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4% annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live first, an investment second.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com

This is why Housing Sales Matter to our Economy

In a study by the National Association of Realtors (NAR) to determine the impact a single home sale has on the economy. They included data compiled by the Bureau of Economic Analysis, the Census Bureau, Macroeconomic Advisors and the Joint Center for Housing Studies at Harvard. After reviewing the information, they determined the total economic impact of a typical home sale in the United States is an astonishing $56,464!

This figure contributed economically to things such as home construction, real estate brokerages, mortgage lending, title insurance, rental & leasing, home appraisals, and moving truck services.

When a House is Sold in the United States:

$14,958 – Income generated from real estate related industries

Home sales turn into money for the economy

$5,647 – Additional expenditure on consumer items such as on furniture, appliances, and paint service

$3,509 – Expenditure on remodeling within 2 years of purchase

It also generates an economic multiplier impact. There is a greater spending at restaurants, sports games, and charity events. The size of this “multiplier” effect is estimated to be:$11,575

Home sales induce additional new homes being built. Typically one new home is constructed for every 8 existing home sales. Therefore, for each existing home sale, 1/8 of new home value is added to the economy which is estimated in the U.S. to be:$20,775

This study was done on a national level, where home prices and the cost of living is less than in southern California. San Diego home prices are also well more than double the national average. While the above figures only cover nationally average numbers to come up with $56,464, the economic impact for a place like San Diego would be far more!

 

For more information on this topic:

619.384.2248
RyanYourRealtor@gmail.com
Visit my Website: http://ryanyourrealtor.com

San Diego Housing Market Update August 2014

The end of summer is here and inventory levels (the number of homes on the market “actively” for sale) continues to climb. This San Diego housing market update shows there are currently 8350 active listings in San Diego county, up slightly from 8295 last month.

Activity Snapshot:

One-year change in closed sales

One-year change in median sales price

One year change in homes for sale

-23.7%

8.3%

-4.8%

How's the market 2According to Bankrate.com, interest rates are currently at 4.20% for a 30-year fixed loan. This is well below the historical average of 6% or so, which is great for home buyers. To calculate your potential mortgage payment, go HERE. Finally, as you will see on the chart below, prices are starting to take on a more normal pattern. There are much more modest changes than the previous year, with a 8.3% increase in median prices, compared to over 20% a few months earlier. However, these higher prices are now resulting in a slow-down of the number of homes sold over a year ago.

The San Diego Association of Realtors analyses housing market date for San Diego county every month. Below is their monthly report. The figures combine both condos and townhomes, as well as single-family homes.

San Diego House Market Stats August 2014

Click for full size

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

San Diego Housing Market Update-July 2014

Summer home buying season is here and inventory levels (the number of homes on the market “actively” for sale) continues to climb. This housing market update shows there are currently 8295 active listings in San Diego county, up from 8062 last month and 7200 in May. This is the most the San Diego market has had in quite a long time.

Activity Snapshot:

One-year change in closed sales

One-year change in median sales price

One year change in homes for sale

-23.4%

7.5%

-0.4%

How's the market 2According to Bankrate.com, interest rates are currently at 4.25% for a 30-year fixed loan. This is well below the historical average of 6% or so, which is great for home buyers. To calculate your potential mortgage payment, go HERE. Finally, as you will see on the chart below, prices are starting to take on a more normal pattern. There are much more modest changes than the previous year, with a 7.5% increase in median prices, compared to over 20% a few months earlier. However, even with the higher prices, homes continue to sell a a faster pace than a year ago.

The San Diego Association of Realtors analyses housing market date for San Diego county every month. Below is their monthly report. The figures combine both condos and townhomes, as well as single-family homes.

San Diego Housing Market Update July 2014

Click To Enlarge

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Home buyers-Asking For Repairs?

It is highly recommended that home buyers have a complete home inspection done before purchasing a home. But when it is all done, some buyers ask to have every little thing fixed, while others ask for almost nothing. Which home repairs should buyers ask for?

Some repairs do seem ridiculous, but having a furnace repaired so that it works again, or having a leaky pipe fixed is not so far fetched.

Making an offer on an older home and then asking to have all the windows replaced seems a bit home buyers asking for repairsover the top, and sellers will view it that way as well. Buyers have to understand a seller’s point of view when it comes to repairs. And the old adage, “if it ain’t broke, don’t fix it” actually applies pretty well in this cases.

Sometimes buyers looking for craftsman style homes built in 1910 to 1940 expect them to have modern electrical systems where all of the electrical outlets are grounded.  Sellers often have owned a home and lived in it for a couple of decades with two pronged outlets, therefore they don’t see why they need to be changed over to grounded outlets for the buyers as a priority.

There are some things that a home has to have like working plumbing or a working furnace. I personally think that if something in a home leaks, the sellers should fix it. This is especially true with indoor plumbing or gas lines. It can both cause additional damage and can be downright dangerous.

Buyers should keep in mind that sellers might not have the money needed to make repairs.  Sellers should understand that often home buyers are short on cash and can not afford to have repairs made and buy a home all at the same time. Yet buyers need to know that there will be repairs in the future and they should budget for them.

Sellers should be prepared to fix anything that comes up as a hazard (safely issue) in the home inspection report like unsafe wiring or pressure release valves that don’t work.

Sellers can say no to any repair that the buyers ask for. And buyers can cancel the purchase agreement during the inspection period and find another home, if the inspection reveals too many issues.

The point of the inspection is for the buyers to know what they are buying. It also protects the sellers somewhat, because the inspector is finding the problems that could upset the buyers if they found out after they closed on the home.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com
This theme is sponsored by California along with Texas, Radio and corporate office contact address
Sitemap