Kim & Jenny's Blog

PREPARING FOR A SHOWING

HOMES TEND TO SELL MORE QUICKLY AND FOR HIGER PRICES WHEN THEY SHOW THEIR BEST!

It's very important that your home shows well. We're also aware that it can't be perfect. After all, you and your family must live there too. Develop a routine that will allow you to pick up and be prepared to show in a reasonabloe period without duress... a 45 minute countdown, for example. This means that certain things must be done in advance. For example, beds should be made up first thing in the morning and dirty dishes placed in the dishwasher after use so that you needn't rush around tending to this matter at the last moment. This way you can prepare for each showing in an organized, un-hassled routine.

BEFORE EACH SHOWING...

PICK UP EVERY ROOM  Check counters, floors, halls and stairs. Straighten up or remove newspapers, magazine, mail, toys, clothings, recreation gear, snack glasses and dishes.

TURN ON ALL LIGHTS   Even those in closets and storage rooms. Electric lights have an amazing capabilty for creating an illusion of lightness, airness and largeness.

OPEN ALL DRAPES, SHADES AND BLINDS Do all that you can to create a bright and light ambiance. THE BEDROOMS: Make up the beds, neatly and attractively, early in the morning. This is a job you don't want to have to do when you learn that the buyers will be there within an hour.

THE KITCHEN Be sure all countertops are clear and "squeaky clean" Wipe down appliances. Be sure all dishes are in the dishwasher or cleaned and put away. The sink should be clear and clean.

CLEAN AIR Keep air  fresheners in closets, bathrooms and kitchen. Be especially careful to keep kitchen odors fresh: coffee brewing or a cinnamon coffee cake baking in the oven have a lasting, inviting effect.

MUSIC, MUSIC, MUSIC Perhaps you can't have something baking in the oven everytime, but soft, pleasant background music may be very effective.

FIREPLACE A warm, cozy fire may be just the extra touch that turns the tick.

AIR CONDITIONING If the weather is warm and sultry, have it operating.

THE BATHROOMS Keep a set of fresh, attractive towels in each room that you can change instantly.

THE ENTRYWAY It's the first and last impression that your buyers will have of your home, make it a good one! Check it regularly for sharpeness.

                                                                                                                        PER REMAX

25 Biggest Real Estate Mistakes

 

Do not buy a house based on its current decor.

25. Buying a House for its Decor

Remember that you are buying the house, not the stuff inside of it, so make sure you see beyond the decorations and look at the bones of the home. Focus on the floor plan and the square footage. You also might want to measure the dimensions and graph out how that's going to work with your belongings.

24. Not Providing Easy Access for Showings

Make your house easily accessible to potential buyers. If there's nowhere to park or it's difficult to get into, buyers may just skip it and look at someone else's property.

23. Not Researching the Neighborhood

It's absolutely critical that you research the neighborhood before you buy. Check out the area, amenities and the school system to be sure that your address corresponds with the correct school district. Also attend a community meeting, if possible. You're not just buying a house, you're buying a piece of that real estate and the land around it.

22. Losing Money With Auctions

While the starting bidding price for a house on auction might be a good deal, it doesn't mean the final price will be. Make sure that you are very strict with your budget when you are bidding; do not go over your final price because you got wrapped up in the excitement of a bidding war. Another thing to keep in mind is that when you buy a property at auction, you aren't able to get any of the warrantees or guarantees, and you are not able to do a home inspection. Find out if the auctioneer is going to put those charges on top of the sale price as well as if there are any liens on the property. You could be responsible for paying the property taxes on that house you just bought, which could make what looks like a good deal into a really bad deal.

21. Trying to Make the "Hard Sell" While Showing

If you are selling your house, you really shouldn't be around at the open house. You might want to try to sell the place on all the reasons you think the house is great, but that might not translate to the buyer. If you leave, you allow the buyers to give unbiased objective feedback to the agent, which is only going to help you in the end.

You don't have to wait until the weather is nice to put your home on the market. That's a common real estate myth.

20. Waiting Until Spring to Sell Your House

Spring is the time of heaviest real estate activity, but that does not mean that people don't buy houses 365 days of the year. That doesn't mean you can't emphasize your home's seasonal amenities.

19. Treating Real Estate Like the Stock Market

When the real estate market is really hot and is appreciating really fast, people tend to look at it like it's the stock market. But playing real estate is nothing like the stock market; when you invest in real estate, you really need to take a long-term approach.

18. Failing to Market Your Home in Different Ways

Don't market your home with just a for-sale sign. Explore other marketing tools as well. Talk to your real estate agent about the marketing that he or she will do. It's something that should be set up from the initial signing of a contract with an agent. Some homes have virtual tours and photographs online. If you choose to go that route, don't forget to include the floor plans. That way, people can see the layout of your home and know if it it's right for them.

17. Not Thinking About Resale

When you are decorating and renovating your home, you need to think about what is going to appeal to a broad section of buyers when it comes time to sell it. Buying houses and being in the real estate market is like chess, you always want to look two or three steps ahead in the game.

16. Buying Without Actually Seeing the Property

It's really easy to buy a house without seeing it because of the Internet and virtual tours, but virtual tours can be deceiving. Plus, it's really hard to actually get a sense and feel of a home by only looking at it online. You need to actually walk through the place yourself. If that's just not possible, hire an inspector to go look at the property and provide you with an assessment.

15. Trusting Everything a Real Estate Advertisement Says

Don't assume every ad is fact. Learn to decipher real estate lingo. For example, "cozy" means small, and "as is" means it's a fixer-upper. If there are a lot of exclamation points in an ad, it's because there is so little to say about the place. Follow the old adage: If it sounds too good to be true, it probably is.

14. Picking the Wrong Agent

Treat meetings with agents like a job interview because that's really how it works. Keep in mind that the person is going to be working for you. Talk to your friends who've sold houses and had good experiences with their particular agent, and go to open houses and observe how that agent interacts with other people. It's also a good idea to meet with the agent in her office. It allows you to see how organized she is, what kind of environment she works in and whether that's conducive for her being able to do a good job for you.

13. Not Hiring an Agent

There's a lot more to selling a house than just putting a sign on the front lawn. If you don't have an agent, you will not get on the multiple-listing service (MLS). That means that other agents are not going to know that your property is for sale. Another thing to consider is if you are willing to show the house each time someone wants to come by and look at it? If you do plan to sell your house on your own, always have a lawyer present at a closing. It's really important to have someone on your side who understands all the complexities.

12. Buying the Most Expensive Home on the Block

The most expensive house will only depreciate in value over time, rather than appreciate, which is what you want. Also, those houses are often not the first house to sell because they are usually overbuilt to the neighborhood. It's absolutely critical that you research the neighborhood before you buy to find out what the price point should be.

11. Not Setting a Realistic Budget

Just because the bank prequalifies you for a loan amount of $400,000 doesn't mean you can afford to make that payment every month. Before hitting the streets for a house hunt, you should sit down and make a monthly budget of what you spend every month. Come up with a number that you are comfortable spending on your mortgage payment, aside from those other expenditures. An easy way to do this is to take a third of your gross income and have that figure be the number you spend on the house. It is also a good idea to have six to nine months of mortgage payments in the bank, plus a little extra if you have any repairs that you might need to do.

10. Visiting the House Only Once

It's important to visit a house more than once because the neighborhood itself may be very different, depending on the day of the week and the time of day. It's also a good idea to go home and think about it, even sleep on it, before you go back again.

9. Not Being Pro-Active at Closing

The best thing to do when going into a closing is to get all the paperwork ahead of time. All that information should come from a mortgage broker or banker. They have what they call a HUD (Housing and Urban Development) One form that lists out all the charges, and you can legally get it in your hands 24 hours before closing. Schedule the closing for in the morning, so you have a fresh mind and plenty of time to go over everything and to ask questions. The final walk-through is another imperative part of the process. You may want to have a home inspector accompany you.

Don't feel like you have to tackle major renovations before placing your home on the market. Touch-ups here and there, especially outside the home, typically do the trick.

8. Doing Major Renovations/Remodeling Before Selling

Minor upgrades usually have a higher return on your money than tackling major renovations before placing a home on the market. The main reason? Huge construction projects always cost more than you think they will, and they also take longer than you expect. The best place to spend money is outside. Research shows that increasing the curb appeal often returns the most value on your money. It's what gets buyers inside the house.

7. Skipping the Loan Pre-Approval Step

When you are pre-approved, the bank is saying, "we will give you a mortgage of up to this amount, so now all you have to do is find your home." Some sellers only allow Realtors to show their house if someone has a pre-approved letter. That indicates that the shopper really is serious about buying a home.

6. Falling in Love With the First Property You See

Many homebuyers, particularly first time homebuyers, fall into the trap of falling in love with the very first house that they see. You need to at least look at three more houses in the area to get an idea of what the comparables are in that price range. You want your Realtor now to show you homes comparable to what you saw. At the end of the day, re-evaluate.

Be sure to hire a home inspector to thoroughly check out a house you are interested in purchasing.

5. Buying a Home Without a Professional Inspection

There are a lot of things a home inspection can reveal about a property that are not visible to the naked eye. Be sure to hire someone who comes with a good referral basis, that's been in the business a while and knows what to look for. Look up the American Society of Home Inspectors and get a list of qualified home inspectors in your area. Once you find an inspector, insist that they compile a written report, complete with photos. Photographs are important because there are areas a home inspector will go that you might not look at.

4. Overlooking the Extra and Hidden Costs

Buying a home is not just about the money that you spend upfront; it's about all the rest of the money you have to spend beyond that. Find out what the property taxes are, what your water bill might be and what a standard electric bill is in that home, especially if you have electric heat vs. gas heat. You also need to factor in furnishings you may need to purchase before you can move in.

3. Buying What You Want, Not What You Need

Look at the space that you are already living in. It will help you to realize what you have been missing and what you need in your next home. Make a list those of needs and then ask your agent to start shopping these needs. On average, Americans live in a house for about nine years. Remember, you can always trade up a few times before you find the ultimate home.

2. Setting Too High of a Sale Price

As a seller its really important to do your research. To come up with your sale price, look up what comparable homes in your neighborhood have sold for. Figure out what the going price is and try to put yours right in the middle of that, unless you have something extra special to offer. It is always better to price a home that way than to start too high and have to reduce. Once you reduce, it always looks like something is wrong with the home.

1. Failing to Showcase Your Home and Make Small Cosmetic Changes

When you are selling your house, you have to really look at it objectively and think about it from the viewpoint of the house hunter. Make minor enhancements to the house and maybe hire a professional stager to come and arrange your furniture. Staging is about decorating your house for the buyers' taste, not yours. A great place to start is with the front of the home and the main entryway. Home staging is designed to increase the potential selling price and reduce the amount of time the house stays on the market

                                                                                                                            PER HGTV.COM

New Real Estate Laws

New Real Estate Laws

Assembly Bill 1169

Landlords are now required to provide a 60 days’ notice of eviction to tenants who have lived in a dwelling for one year or longer and a 30 days’ notice is required for a tenant who has resided in the dwelling for less than one year.

Assembly Bill 2100

This bill requires homeowner association boards adopt plans to adequately fund reserve accounts for the repair and replacement of items such as roofs, pools and common water heaters. HOA loans must be disclosed as well as statements to HOA members whether to defer or forsake repairs or replacement of major components of the development and clearly justify this choice. Beginning January 1, 2009, distribution of the plans must be provided to the members annually. Association board members who have a financial interest are prohibited in participating in decisions.

Assembly Bill 2429

This bill is designed to protect consumers from under-qualified agents. As of October 1, 2007, all applicants for real estate licenses will be required to complete all three of the courses mandated by the California Department of Real Estate before taking tha license examination.

Assembly Bill 2800

Standardizes sundry statutes regarding housing-related nondiscrimination provisions, making them consistent with the Fair Employment and Housing Act. The act prohibits discrimination in housing on the basis of race, color, religion, national origin, ancestry, disability, sex, marital status, sexual orientation, familial status and source of income.

Senate Bill 1609

This bill protects applicants seeking reverse mortgage loans which are attractive to the elderly due to payment options. Lenders are now required to provide independent counseling for all reverse mortgage loans, contracts must be translated into the language in which they were first negotiated and applications will not be accepted until the borrower receives housing counseling.

Senate Bill 1827

Registered domestic partners will be allowed to file joint state tax returns. Only couples of the same sex or those in which one partner is at least 62 can register.

For more legislative information visit: (http://www.sen.ca.gov.)

Home Inspections

Real estate is a major investment. Before purchasing any property it is prudent to establish the condition of the property. Also, make sure you include a proper inspection contingency in your purchase agreement. A home inspection is basically an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. More specifically, a home inspection includes an examination of the heating and central air conditioning systems, plumbing, electrical systems, roof, attic, visible insulation, walls, ceilings, floors, windows, foundations, and appliances.

A home inspection allows the buyer to know the condition of the home & essentially helps them determine what they are buying. A home inspection can also help owners of real estate to determine the presence or magnitude of problems in their home. Home inspections also make a homeowner aware of maintenance issues in and around the home.

If you are buying a home, be there for the full inspection. The inspector will be able to answer any questions you may have about maintaining the house and discuss with you any potential problems. If the inspector finds any major problems, talk to your realtor about re-negotiating with the seller on the price of the home or having the seller fix the problems. Home sellers are not required to make requested repairs, but most will.

It is very important to consider other inspections such as a chimney, mold, sewer-line, geological and/or soils inspections. You need to know if there is mold in your home, if your main sewer line is cracked or damaged, if the chimney is cracked & may be a fire hazard, or if your home has unstable soil. These are areas that a general inspector may not cover, and most likely will not see & are not licensed to advise on. As your real estate consultants, we have many contacts regarding these types of inspections.

How to Avoid the 10 most Common Mistakes Home Buyers Make

The Williamson Team’s Guide to Home Buying…

How to Buy Your Home the Easy Way!

Avoid the 10 most Common, Painful, and Frustrating

Mistakes Home Buyers Make!

Buying a home can be a hair-raising experience.  It’s a roller coaster of emotions from finding the right place, to securing the loan and moving in.  For most of us the home purchase is the largest investment we’ll ever make.  Often the emotions of purchasing something so expensive and personal can cloud our sound business judgment.

Most home purchasers do little or no research before they invest their nest eggs.  Doesn’t it make sense to become as completely informed as possible before you buy a home?  This special report is designed to help you avoid 10 common and crucial mistakes.  The right real estate and mortgage professional can help you make good sound business decisions based on your own personal circumstances.

1.        Inspect, Inspect and Inspect – Have an inspection done, and go over the report with a fine-tooth comb.  Make sure the report was done by a professional organization.  For condo purchases go over the By-laws and Association By-Laws Fees.  Don’t take anything for granted…inspect everything!

2.      Imagine the new Property Vacant – Remember, your furnishings and decorations will be the ones filling this new home, not the sellers, so don’t be swayed by beautiful furniture…it leaves with the owner.

3.      Income Plus Lifestyle Equals Mortgage Payment – Sit down with a loan professional and honestly discuss your income level and living expenses.  Take into account future considerations, children, add-ons, amenities, and improvements etc.  Your dream home is certainly worth a sacrifice but don’t mortgage your entire future.

4.      View Several Homes – See at least 7-10 properties.  Don’t move too slowly, but don’t move on the first property you see.  With your agents help, you should be able to view enough properties to get a good overall perspective of your market and desires.  When you find the right property all the legwork will be worth it.

5.      Utilize Your Team – By aligning yourself with the right agent and mortgage broker, you’ll have an entire team at your disposal, each of them will work hand in hand for your benefit.  Explore all the options before you sign.

6.      Investigate – Check out all costs and expenses before you sign. Utilities, taxes, insurance, maintenance and homeowner association fees if applicable.  Make sure all utilities are on (gas, electricity, and water) so you can inspect everything in working order.  Ask lots of questions and be very detail conscious.

7.       Have a Final Walk Through – Visit the property after all furnishings have been moved out to ensure there are no surprises.  Be absolutely positive the property was left exactly as you had agreed upon in the contract.  Often times, things are unintentionally overlooked that could have been spotted in a final walk through.

8.      Plan For Flexibility – Closing dates are not written in stone.  Allow contingencies and have a back up plan.  If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you.  These types or circumstances are not uncommon in a real estate transaction.

9.      If It’s Not In Writing, It Doesn’t Exist – All promises and discussions are to be in writing.  Don’t make any assumptions or believe any assurances.  Even the best intentions can be misinterpreted.  Have your professional keep an ongoing log in writing of all discussions, and get the seller’s written approval for all agreements.

      10. Loyalty Breeds Loyalty – Be open and up-front with Realtor and Loan Agent. Hard feelings & disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate.  Take the time to select the right team in the beginning and your home purchase will be a pleasing and memorable experience.

Our New Invention

We have created a new, no hassle, free and easy way in finding people lovely homes & condos in the Westside and South Bay neighborhoods. We call this our Free HomeFinder Service.

Each night, HomeFinder computers access the Westside and South Bay Multiple Listing Services and search through all the information on every home listed in the entire area by every real estate company.

Then our computers sift and sort through all of the new listings, automatically finding & matching the homes that meet your exact specifications.  The system then automatically mails, or if you prefer, faxes or e-mails you that information on a daily, weekly, or twice-weekly basis… your choice.

Our HomeFinder Service gives you access to inside information normally available only to real estate agents.  From the privacy of your own home, you receive information about every single home available in the area of your choice, and you receive this information even before many other real estate agents have seen it!

As you receive information about homes you are interested in, you can study, compare, and drive by theproperties.  When you find a home that you would like to see, just give us a call, and we’we will make arrangements to get you inside the home at your convenience.

My HomeFinder team is totally service oriented.  We’re not salespeople.  At no time will you ever be made to feel under any pressure to buy a home.  When you find the perfect home, you’ll know it.  And then you’ll tell us.

As you can well imagine, there is just too much to tell you about right now, but it’s easy for you to get more information.  Just give me a call weekdays at (310) 665-3622.  Ask for Jenny or Kim Williamson.  Or, you may e-mail us with your name, phone number, area & price range of choice & how you would like to receive the information (& of course anything else that is important to you in your search) and we will start you on the HomeFinder Service right away.

Best wishes in your home search!