Wednesday, May 31, 2006

Four Common Mistakes Made By Home Sellers, And How To Avoid Them

1. Not Preparing Your Home To Look Attractive To Buyers.

Your home is competing with more than 1,000 other homes. Buyers buy on emotion, not logic. The best marketing program in the world can only bring lots of buyers into your home – it can't make them like the home.

2. Signing A Long-Term Listing Without A Written, Specific Performance Guarantee And Easy-Exit Clause.

Don't rely on verbal promises. Make sure that you receive a written promise stating that you can cancel without charge if the performance is other than what was promised.

3. Not First Obtaining A Competitive Market Analysis (CMA) From A Realtor.

How would you feel if your home sold for $106,500 and then you find out from the bank appraiser that it was worth $116,000? In today's real estate market, this happens often! Your home will have to be appraised by a state licensed bank appraiser in order for your buyer to obtain financing. Your Realtor goes through the same process as the appraiser when providing you with a CMA. This is invaluable information when selling your home as you neither want to over-price or under-price for the market.

4. Not Obtaining Written Pre-Approval For A New Home Loan For Your New Home.

Nothing is more heartbreaking than to sell your home and find your new dream home, only to find that you can't obtain financing for the dream home. A written pre-approval is a formal written promise by a home lender to make you a new home loan. Do not confuse a verbal pre-qualification with a formal written pre-approval. Verbal pre-qualifications are just that – verbal. They are not binding on the home lender. Many home buyers have received verbal pre-qualifications, only to later be denied a home loan and have their dream shattered. I'd be more than happy to give you the name of several highly competent, well-respected home lenders, who may provide you with a formal, written pre-approval at no charge, as a result of my recommendation. Please feel free to give me a call for their names.

The above recommendations come from years of experience in the real estate industry during buyers' markets, sellers' markets, high interest rates and low interest rates. In any economy, however, the listed recommendations apply in all situations. Follow these guidelines and you will substantially reduce the often stressful and sometimes expensive mistakes made by hundreds of home sellers in our area each year. For FREE help and guidance in selling your home, contact us at 949-285-3739 or visit our website.

Thursday, May 25, 2006

5 Powerful Buying Strategies

A post on Hampton Roads Real Estate Blog by Realtor and friend, Dave Macklin in Virginia Beach, Virginia gives 5 Powerful Buying Strategies for today’s buyers. These strategies include:

1. Don't Get "Pre-Qualified!" Get "Pre-Approved"

2. Sell First, Then Buy

3. Play the Game of Nines

4. Don't Be Pushed Into Any House

5. Stop Calling Ads!

Read this important post and put yourself in the best possible position to buy a home. Then contact us, or visit our website, so we can represent your best interests when buying your South Orange County home. We will take care of you just like family.

Thursday, May 18, 2006

NAR Predicts 3rd Best Year

The housing market is settling but should experience its third-best year in 2006, with job creation and a growing economy offsetting some of the effects of rising interest rates, according to the NATIONAL ASSOCIATION OF REALTORS®.

The South Orange County April 2006 sales statistics generally are consistant with this prediction, but when you look closely at individaul towns there is much disparity.

Dana Point's inventory remained unchanged from April 2005 to April 2006. However, the sold listings are down 44% and market times have increased by 34%. Appreciation over the past year is merely 1%.



Laguna Beach's inventory increased 27%, sales dropped 37% and market times increased by 97%. But, homes appreciated 3.46% compared to April 2005.



Laguna Niguel, on the other hand, saw a 6% decrease in listing inventory compared to last year. Market times are basically unchanged even though the number of sales is down 46%. But, the best news is a 9% appreciation!



Mission Viejo's 15% appreciation more than makes up for a 6% increase in inventory, 43% decrease in sales and a 10 day longer market time.



San Clemente is experiencing a very similar market to Mission Viejo. 14% appreciation, 10% increase in inventory, 29% drop in sales.



San Jaun Capistrano is the only area to see a depreciation in sales prices with a 6% drop in prices.



This is a market where both, buyers and sellers, will want to work with only the best agents. Agents who have their thumbs on the pulse of the local market. Agents who can differentiate between the different localities and not lump all markets into one. Agents who have the knowledge and experience to counsel buyers and sellers on how to get the best possible deal.

We are those agents. We will look out for your best interests and put our years of experience to work for you. Give us a call. You will be glad you did!

All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.
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Wanting to buy or sell a home in South Orange County? Visit our website. Here you can view all homes for sale.

Wednesday, May 17, 2006

Talega Village Center gets council approval

Barring unforeseen delays, Talegans can expect to be able to grab a loaf of bread or a cup of cappuccino sometime early next year in the 103,000-square-foot Talega Village Center.

The City Council approved plans Tuesday for a landscaped cluster of Spanish-style shops and restaurants to be anchored by a gourmet-style 46,000-square-foot Ralphs Fresh Fare.

You can read the full story here

For more information about Talega or to view properties for sale, visit Talega.HartanovTeam.com

Thursday, May 11, 2006

Condo Development Rejected in San Clemente

The California Coastal Commission has rejected a condominium project proposed for the site of historic gardens in San Clemente Pier Bowl district. These gardens are adjacent to a historic home and developers planned to build 2 multi-level buildings the location.

The San Clemente had approved the project over a year ago. However, area residents are opposed to the project fearing its effect on ocean views and the change in the character of the area.

You can read the full report here.
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Thinking of buying or selling a home in San Clemente. Visit our website for the current Market Value of your home and to search all the area real estate listings.

Thursday, May 04, 2006

Post-Contract Pitfalls

Selling a home is like climbing Mount Everest – getting a signed contract is a great accomplishment, but that's only half the journey. The typical home sale today involves more than 20 steps after the initial contract is accepted to complete the transaction.

Much of what needs to be done before the closing is the responsibility of appraisers, loan processors, attorneys, and inspectors — our role, as your REALTOR®, is to coordinate those responsibilities, helping to ensure that others do their jobs promptly and correctly and that the closing isn't jeopardized.

Many steps between contract ratification and closing involve the cooperation of both buyer and seller, and it takes attentive REALTORS® on both sides of the transaction to troubleshoot and keep everyone on track. When things go wrong, closing can easily fall behind. Here's how much time to expect on particular delays:

One-Week Delays
1. Buyer submits incorrect information to lender.
2. Source of down payment changes.
3. Escrow fails to notify parties about missing documents.
4. Principals leave town without signing all necessary papers.
5. Unknown defects are discovered in the property.
6. Last-minute liens discovered.
7. Cloud on title.
8. Move-out date changes.

Two-Week Delays
1. Lender decides at the last minute it doesn't approve of the borrower or the property.
2. Lender raises interest rates.
3. Lender requires last minute reappraisal or repairs.
4. Appraisal too low.

We have extensive experience in handling problems that may arise during the time between contract and closing; we can anticipate difficulties and address them in time to ensure a smooth settlement for all involved.

To ensure a smooth settlement when buying or selling your home, give us a call, 949-481-3739. We're here to help!