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New Lease Listing in Anaheim Hills…
December 29, 2008 By
4 Key Points in Today’s Market
November 13, 2008 By
As you sit here reading this blog in the comfort of your office or home office, it’s important to know that there are positive changes taking place in today’s market place. 1248 Families chose to purchase a home in Orange County last month… I believe that there are 4 key factors that contribute to these sales, and I would encourage you to click on the video below and see why!!!
Good News!
October 11, 2008 By
According to the Southern California Multiple Listing Service, 16,462 families purchased a home this year despite all the issues you hear in the media, and this doesn’t take into consideration New Home Sales, For Sale By Owners and there 4280 Homes currently in Escrow!
What does that really mean? It means that if you are thinking about buying or selling in this market, there is a part of society that is in complete agreement with you! Guess what else? Over 1,000,000 people made their house payment on time this month! I know can you believe it? Families all over Southern California are paying their bills!
Regardless of what you see in the media, there are good things happening all around you… again, what are you choosing to look at?
What do you choose?
September 21, 2008 By
As you may or may not know… We are constantly being bombarded with all forms of media which permeate fear and concern!!! Why? This is what sells!
You can choose to feel overwhelmed, and see everything from a negative… the real estate market continues to move downward, the stock market is falling, the dollar is weakening, blah, blah, blah… or you can choose see the opportunity that is all around you and surround yourself with like minded people that see and feel the same way. You like me, know that there is an incredible change taking place! Interest rates are down, inventory is still up, and there are motivated sellers all around you! I believe that Warren Buffet said it best… “when everyone else is moving in one direction, go the other”. Now this may not be the exact quote or comment; however it proves a good point! Don’t necessarily be one of the heard, if the heard is not making decisions that make sense you… break free… look in another direction.
I challenge you to consider making a change in your thinking, in your actions and in your vision, and I will look forward to seeing you grow exponentially!
Where did April Go?
May 5, 2008 By
Well as you may or may not know… Kristina and I have been blessed with a new baby boy! On April 16th, Kristina gave birth to Matthew William Simons born at 8:38 a.m. weighing in at 7lbs. and he was 20″ long. April has come and gone and May is already flying bye… I will be back to the writing board in no time… In the meantime, check out my son.
Great Information for Buyers & Sellers in Today’s changing market…
March 20, 2008 By
Get a Hot Deal in a Cool Market
Buying or selling a home? Here’s how to strengthen your hand in rough times.
Kiplinger… March 20, 2008
Birth, death, marriage, divorce. Throw in new careers and lost jobs, and you’ve got the reasons most of us fail miserably at timing the real estate market. We sell and buy because life — not market conditions — drives the decision.
It’s how you manage the deal that dictates whether you’ll give up too much of your profit in a fire sale or forsake future profit by paying too much — especially now that the housing market has taken a chilly turn. In the fourth quarter of 2007, the median home price in the U.S. fell 5.8% over the same period 12 months prior, according to the National Association of Realtors. And 13% fewer homes were sold last year than the year before.
Below, we have tips for both buyers and sellers to help you strengthen your hand in these rough times, no matter what side of the transaction you’re on. (Hint: It wouldn’t hurt to read both sections so you know the other team’s strategy, too.) Plus, you can sharpen your skills and test your knowledge with our
Buyer tips
Buyers definitely have the upper hand in a cool market. You can press your advantage to negotiate the best price possible. However, bear in mind that today’s credit crunch has lenders tightening their belts, so you’ll need to make the right moves to get a good deal on a mortgage. Also, dust off those negotiating skills that went unused during the seller’s market of the past few years.
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Have a down payment. A 100% financing deal is much harder to get. So be prepared to put at least 5% down. Lenders also want you to have at least two months’ worth of PITI (principal, interest, taxes and insurance) in reserve.
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Boost your credit score. Based on current interest rates, the average rate on a 30-year fixed-rate mortgage is about 1.3 percentage points lower for someone with a credit score of 760 to 850 than for someone with a score of 620 to 659. On a $200,000 loan, a borrower with a top-tier score would pay $173 less per month — a saving of $2,076 per year — than a borrower near the bottom, according to MyFICO.com.
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Do your homework. Learn as much as you can about the local housing market and the seller’s motivations. For example, find out what similar homes in the neighborhood are selling for at Zillow.com. Ask questions about the sellers, such as why they’re selling, how long the home has been on the market, when they bought the home and how much they paid. Once you zero in on a property, hire a home inspector to find any defects in the home.
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Sharpen your negotiating skills. Just about everything is negotiable when buying a house, especially in a buyer’s market. When making an offer, it can include contingencies that protect you, such as requiring that the home pass an inspection, appraises for at least as much as you’re paying for it and that the seller accept your offer by a certain time.
You also can ask that the seller pay part of your closing costs, include a redecorating allowance or remove an above-ground pool you don’t want. The trick, though, is to prove to the seller you’re a serious buyer without looking too eager. And you’ve got to be willing to walk away from a home if the seller refuses to negotiate in price or make concessions to your satisfaction.
Seller tips
A cool market means it may take you longer to sell your home, and you might not get as much money as you’d like. Those are two tough pills to swallow. But if you make the right moves, you can increase your odds of striking a good deal and getting the most from your sale.
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Pick the right agent. You want somebody who is going to market the place, not some slacker who talks you into setting a low-ball price and then waits for a bargain hunter to trip over the house on the MLS. Your best bet is to find someone who was in the business during the last downturn. That’s a survivor who knows how to sell when others can’t. Interview several agents.
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Pin down marketing specifics when interviewing agents. Despite the rise of Web sites, such as Realtor.com and brokers’ own sites, many sales still turn on old-fashioned techniques, such as classified ads in newspapers and local real estate magazines, open houses and yard signs (with a box full of detailed fliers for the drive-by crowd). When markets slow, these staples matter more than they do when things are sizzling.
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Shop the market yourself to get a feel for prices. Ask your agent to show you listings that are competing with your own.
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Buy down the interest rate. It’s not a sales price that people are buying — it’s the mortgage payment. And buying down the buyer’s interest rate is a smart way to attract buyers without giving up your profits. For example, lowering the buyer’s interest rate from 6.5% to 5.5% on a $150,000 loan reduces the monthly payment by almost $100 per month.
The buy-down would cost you about 4.75% of the loan amount, or $7,125 in this example. Alternatively, if you lowered your sale price by that amount, the buyer would save only $45 a month. You can also offer to buy down the interest rate for the first year or two for less money. Either way, you’re allowing buyers to get more home than they would have otherwise been able to afford.
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Dress up the house. Agents call it staging: Haul out the oversize furniture; get rid of clutter; break out the touch-up paint; polish the glass; buff brass fixtures; eradicate smells. "Things you were willing to live with are not necessarily something you want a buyer to see," says Kevin Cook, president of the Cottage Realty Ltd. in Berthoud, Colo.
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Hire an inspector. Most buyers make their purchases contingent on a home inspection. But hiring your own inspector before placing your house on the market can help you indentify things to fix ahead of time and make your home more attractive to the buyer. For example, you’ll find out if your roof needs replacement or if any electrical or plumbing work should be done.
Great content… Great Advise… Who do you know that currently owns a home, and has adult children living with them? With the comeback of FHA financing and the temporary changes in the Maximum Loan Limits… it may be a great time to help them purchase their own home, co-mortgage and enjoy the benefits of having your own place! 
Imagine the possibilities. Have a great day!
Well, Well, Well… is the media proposing good news?
March 12, 2008 By
In a recent articly by Real Trends, "Best time to buy a house in 4 years" they have made a very bold claim… Does it resonate, or even sound the least bit familiar?
Read on and see what your thoughts are…
Real Trends latest article:
Best time to buy a house in 4 years
It may be the best time to buy a house in more than four years. Home prices have dropped so quickly and so far that valuations – the difference between what a home should cost and its actual price – are the lowest they’ve been since 2004, according to a report. The Cleveland-based bank National City Corp., together with financial analysis firm Global Insight, revealed this week that more than 88 percent of the 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007. "Housing valuations are almost back to long-term norms," said There are still 21 housing markets, or six percent of those surveyed, that are severely over-valued, including Atlantic City (NJ) and Madera (CA). That’s down from 56 over-valued markets at the peak of the housing bubble in 2006. The report compares actual median home prices with what the authors determine are proper home values based on population density, relative income levels and interest rates, as well as historically observed market premiums or discounts, to determine whether markets are over- or under-valued. The report also factors in market intangibles that make some areas more desirable places to live, and more expensive.
National City‘s chief economist, Richard DeKaser. He called current affordability "the best in the past four years."
Now with that said… what do you think? Who do you know that currently owns a home and would like to move up? Now might be a great time to introduce me to your family, friends, co-workers and neighbors.
Thank you for your continued time, attention and your support! Have fun!
It’s just another Monday in Southern California…
January 28, 2008 By
For months, I have been stating the fact! This market is natural, it’s part of a cycle that has to play itself out. Inventory will continue to come on the market due to the liquidity challenges that the Mortgage market faces.
When will the bottom hit? Who really knows… did we know that 2005 was going to be the peak? I surely didn’t. While I personally saw problems with overpricing, bidding wars and all kinds of "unrealistic" loans that enticed even the most educated buyers into making unjustified decisions… I would have never stated the correction would have happen as fast as it has!
If you know me by now… the next question is what is the positive? I believe that there is a lot of "opportunity" in today’s market and there will be "opportunities" to come. With the Interest rates hitting what could be called an all time historic low, I know that this is a very limited window! With short sales & foreclosures increasing, the market will continue to be flooded with new "opportunities".
Buyers will continue to be able to negotiate will the Sellers and Builder direct in the form of incentives, closing cost, concessions, discounted loan rates and more. What will it take for you to move in todays market? Motivation! Smart Pricing! Marketing! A Consultant that is truly in touch with the market, one who can Negotiate, Consult, and Oversee all the Transactional Details in order to help you reach your goals…
You could wait for the bottom… the only problem with that… when the bottom does hit, chances are you will be 6 months past, interest rates will have made their adjustments and sellers will be in the drivers seat… driving up the prices all over again. Face it, it’s not a matter of if but a matter of when.
So why now? I can’t say… I don’t know your short term, long term real estate goals, your financial plan or your personal situation. If you are thinking about it, sitting on the fence, waiting, wishing, hoping… whatever it may be, my advise might be to listen to the Nike commercials and "just do it" , it might even be wait.
What would it take for you to take advantage of the "opportunities" in today’s changing real estate market? When would you like to get together for a consultation, where I can ask you a few thought provoking questions, in order to help you clarify your core goals, so that you can make better, easier decisions? You do want to make better decisions, do you not?
Remember… I’m here to help you any way that I can. Just give me a call and we can schedule an initial consultation. Until then, thank you for your time and attention.
With Sincere Appreciation-
Jeff-
P.S. Who do you know that is thinking about make a move in today’s changing real estate market? With 87% of all my business coming from the referrals of family, friends, co-workers and neighbors, your endorsement is very important to me… I am totally committed to providing you, my client a world-class level of real estate service that is above and beyond expectation in professionalism, service and quality!
As Seen in the San Fransisco Gate… Bottom line truth…
January 28, 2008 By
Editor – As a real estate educator, I give advice to clients, students and professional advisers on making good real estate choices.
My recommendation is for advisers and the media to be more direct and less accommodating on the topic of selling a home in today’s market. ("For a quick sale, make your home stand out," Jan. 20.)
Selling a home is 90 percent pricing and 10 percent marketing (staging, advertising, broker tours, etc.).
A buyer will not pay more for a property than it is worth because of marketing. In fact, great marketing will quickly kill an overpriced listing. But a home properly priced will sell.
Pricing solves all shortcomings and issues. Sellers today should consider setting price based on current pending and sold listing data, and much less on active and expired listing data.
Serious sellers price their home to sell. Sellers who are not serious about pricing strategy should stay out of the market and reduce the clutter of listings. The opportunity for learning from today’s real estate market is that – without exception – all asset classes (including real estate) are cyclical. Remembering this should help families and individuals make better choices in the future.
RICH ARZAGA
Instructor, UC Berkeley,
UC Santa Cruz