Saturday, October 27, 2018

4 Things NOT to Do When Putting Your Home on the Market

home on the market

Editor's Note: This post was originally published on December 29, 2016. Housecall continues to share this piece due to ongoing requests and reader interest.
So you've decided to put your home on the market. Congratulations! Hopefully, you've brought a rockin' REALTOR® on board to help you list your spot, and together you've done your due diligence on what to ask for. As you start checking things off your to-do list, it's also important to pay mind of what not to do. Below are a handful of things to get you started.
Don't over-improve.
As you ready your home for sale, you may realize you will get a great return on your investment if you make a couple of changes. Updating the appliances or replacing that cracked cabinet in the bathroom are all great ideas. However, it's important not to over-improve, or make improvements that are hyper-specific to your tastes. For example, not everyone wants a pimped out finished basement equipped with a wet bar and lifted stage for their rock and roll buds to jam out on. (Okay, everyone should want that.) What if your buyers are family oriented and want a basement space for their kids to play in? That rock-and-roll room may look to them like a huge project to un-do. Make any needed fixes to your space, but don't go above and beyond—you may lose money doing so.
Don't over-decorate.
Over-decorating is just as bad as over-improving. You may love the look of lace and lavender, but your potential buyer may enter your home and cringe. When prepping for sale, neutralize your decorating scheme so it's more universally palatable.
Don't hang around.
Your agent calls to let you know they will be bringing buyers by this afternoon. Great! You rally your whole family, Fluffy the dog included, to be waiting at the door with fresh baked cookies and big smiles. Right? Wrong. Buyers want to imagine themselves in your space, not be confronted by you in your space. Trust, it's awkward for them to go about judging your home while you stand in the corner smiling like a maniac. Get out of the house, take the kids with you, and if you can't leave for whatever reason, at least go sit in the backyard. (On the other hand, if you're buying a home and not selling, then making it personal is the way to go, especially when writing your offer letter. Pull those heart strings!)
Don't take things personally.
Real estate is a business, but buying and selling homes is very, very emotional. However, when selling your homes, try your very best not to take things personally. When a buyer lowballs you or says they will need to replace your prized 1970s vintage shag carpet with something “more modern,” try not to raise your hackles.

Friday, October 12, 2018

October 2018 National Housing Trends eNewsletter

Angela Yglesias

Levesque Realty 

Cell: 805-490-4944  
Phone: 805-490-4944 

Housing Trends

October 2018

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Take a look at our real estate glossary to learn definitions of common words and phrases used in the industry.

National market update

Existing-Home Sales Remain Flat Nationally, Mixed Results Regionally

WASHINGTON (September 20, 2018) – Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors®. Sales gains in the Northeast and Midwest canceled out downturns in the South and West.



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6 Home Renovation Myths to Stop Believing Before You Botch Things Up

Where do home renovation myths start? Maybe in the aisles of your local hardware store or parking lot of the lumber yard. They get traded back and forth and whispered to people who may actually believe the tall tales—until they find themselves sitting under a pile of splintered wood and drywall dust.



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National housing indicators

Existing home sales (August)

5.29 million units*

Existing home median price (August)

$267,200

Housing Starts (August)

1.282 million unit*

New home sales (July)

0.627 million unit*
*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

1st Quarter 2018

64.2%

2nd Quarter 2018

64.3%
The homeownership rate of 64.3 percent was not statistically different from the rate in the second quarter 2017 (63.7 percent) nor from the rate in the first quarter 2018 (64.2 percent).

New home sales

July 2018

-1.7%

August 2018

+3.5%
Sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.5 percent (±13.7 percent)* above the revised July rate of 608,000 and is 12.7 percent (±20.7 percent)* above the August 2017 estimate of 558,000
Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.




Consumer tips & hot properties

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Got Lousy Credit? 10 Places Where It Won't Stop You From Buying a Home

There are plenty of places where a poor credit score may not stand in the way of buyers seeking a mortgage for the home they’ve set their sights on.



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6 Things You'll Overhear at an Open House That Might Persuade You to Buy Now—or Run

The seemingly innocuous chitchat you overhear can help you decide whether to follow through and make an offer—or conversely, get the heck out of there.



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Want Instant Curb Appeal on the Cheap? These 6 Easy Tricks Will Cost You Under $200

Boosting your curb appeal—with quick and easy upgrades—doesn’t have to drain your savings account.



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Put Away the Pumpkins and Pine Cones: These Fab Fall Decor Ideas Are in Season

This autumn, designers are all about going off book with cozy but timeless decor that can last well into winter and even next spring—nary a gourd or corn husk in sight.



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Early Bird Specials! America’s 10 Most—and Least—Expensive Retirement Towns

As tens of millions of baby boomers plan their retirement, they’re obsessing over where to live out their golden years—without giving up an active, social lifestyle.



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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.
Source: NATIONAL ASSOCIATION OF REALTORS®.

Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, realtor.com® local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.
Subscribe to the free Housing Trends eNewsletter to receive it each month. You can unsubscribe at any time.
Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by Move, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of Move, Inc. Move, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from or to this eNewsletter nor the accuracy and authenticity of any information contained in such websites, and is not responsible for any content contained in any linked site or for any action or lack of action by any linked site whatsoever, including their use of any information they may collect.

Friday, October 5, 2018

Understanding Investment Properties: What You Should Know



Unlike a second home, where a homeowner lives for a portion of the year, an investment property is property that the homeowner uses to generate income, and in most cases, is not occupied by the homeowner at any time. Trying to figure out if your next home falls under second home or investment home status? Ask yourself: are you using it to make a profit? If the answer is yes, it’s an investment property.
A few examples of investment property include:
  • A condo at the beach that you rent out to vacationers
  • A house that you rent to long-term tenants
  • A home you purchased to “flip” (buy and resell in a short period of time)
Financing
If you need to finance your investment home, expect higher interest rates and a larger down payment. Most lenders find investment properties riskier, and your rates will reflect that.
Multi-Unit Homes
A popular investment home model is a split-family home or an apartment building; this allows the owner to live on the property and make a profit from renting out additional units. These properties are often eligible for traditional financing and do not necessarily require an investment property loan.
So long as you use one of the units in the home for year-round living, you should be able to finance the property through a conventional loan, receiving lower rates and a lower down payment.

Realtor in Thousand Oaks, Conejo Valley

I help people selling their homes get them sold quickly and almost always at 100% asking, even over in some markets. I save my real estate b...