Showing posts with label 92399. Show all posts
Showing posts with label 92399. Show all posts

Saturday, April 25, 2015

How much do I have to put down to buy a house?

Trying to get your foot in the door…literally?
If you're tired of paying rent; tired of paying so much in taxes; tired of paying someone else’s house payment…let’s get you a place of your own.  With that goal in mind, the process so often starts with the same question: "How much do I need to put down? What can I do now? I can't save $50,000-$90,000 for a 20% downpayment!"

Well, even if your wallet is empty, you may have enough to put down on a house of your own.  How much do you have to put down if you want to buy a house? That depends on countless factors, but the real answer is...20%, 10%, 5%, 3.5%...or...yes, even nothing down. 

“But aren't these Zero-Down programs a just a gimmick to get me to buy?”  

No.  Absolutely not.  
  • There are communities; in fact there are entire towns that that fall under USDA guidelines, with 0% down financing available.  
  • FHA loans allow for a seller to credit buyers up to 6% toward closing costs.
  • VA loans allow for up to 4% seller's credit, but will loan up to 100% of your new home's value. 


True story.  The first time that I looked into buying a house I learned pretty quickly that I just wasn't going to be able to make it happen...

...until...

...I talked to a Realtor.  The agent that I met with put me in touch with a lender whom I learned that I could trust. I put my faith in the experts; my agent and my lender, and before I knew it...I was moving in!

Looking back, the only thing I regret is that I didn't do it earlier.

Our first home. Oakley, CA 2004
I ended up writing a full price offer, allowing the seller to stay in the house for an extra month...IF...they agreed to cover all of our closing costs; 100% of ‘em.  They agreed, leaving me needing only to come up with $9,975 of down payment money.  Well, I didn't even have that.  I really only had about $1,000 in my bank account.  I asked my parents for a few thousand dollars (yes, I was very fortunate) and they were really happy to help me get into my very first house and start growing roots in my new community.  The entire process took 40 days...from the day I met my Realtor until the day I closed escrow.


I say and write this often, "Don't wonder! JUST ASK!"  Ask an expert.  They're either going to give you good news...or good guidance. Both are in the right direction!

Thanks in advance for remembering my name when the topic of Real Estate comes up in conversation.  If you're local , just remember Andy@LoisLauer.Com I'm always here to help.  


My business thrives by word of mouth.  If you appreciate the information provided on my blog, please share this post on your favorite social media sites, and with anyone you feel could use my service.

Until next time.


















Andy Blasquez  Cell ~ 909.539.3292
BRE#01826135
Please follow and share at YucaipaRealEstateTrends on Facebook
E-mail me on Andy.Blasquez@gmail.com


Tuesday, January 27, 2015

9 ABSOLUTE MUST DO's when listing your home for sale.

Any realtor can list a home for sale, but actively and effectively listing, marketing, and closing a real estate transaction takes expertise, not just a real estate license. 

If you know me at all, you know that I'm passionate about business; specifically Real Estate. That can sometimes leads to lengthy and often complicated dialogues and posts. The topic of effectively listing your house for sale is broad enough that I could literally write an entire book about the process. This post really summarizes the most important 'Must Do's" when listing your home for sale.


1) FIRST THINGS FIRST - MAKE SURE YOUR AGENT IS LISTENING!
Without a doubt, step number one is: Make sure that your Realtor is listening.  Effectively selling real estate requires a clear understanding of the sellers' motivating factors; all of 'em! Your real estate agent has to know the right questions to ask in order to draw out the most important factors...and then he or she has to be LISTENING!

Steven Covey said it best; "Begin with the end in mind." The real question shouldn't be "What is your real estate objective?" or "How much do you think you need to sell your house for?"  The discussion surrounding selling your home ought to start something like this: "Truthfully, why are you selling? What life changes are happening or are you anticipating that are motivating you to sell?" Is the seller looking to get absolute top-dollar out of an investment property that they are trying to flip? Are they anxiously trying to avoid foreclosure by completing the short sale process before their home goes to auction on the courthouse steps?  Is one of the sellers changing employment and is in a race against the clock? Are the sellers recent "Empty Nesters" looking to downsize and simplify their lives?  That's only four different stories and four very different motivating factors.  There are countless different scenarios, each deserving its own unique plans, strategies, and timeline.  Unless or until your Realtor has a real understand of what your motivating factors are, how can he or she truly give the absolute best service.

2) VIDEO, PHOTOGRAPHY, and a STRONG WEB  & SOCIAL MEDIA PRESENCE
I listed this step second only because it's such a huge priority. However, note that none of this can be started done without first preparing your home for sale. If you've got updates or upgrades, small repairs or staging to complete, do them first.  Once your home is showing like a model, you can proceed with this very, very important step.
With today’s very mobile and very tech savvy public, creating an attractive online presence is paramount!  Capturing sensational, eye catching pictures and videos of your property is vital. We all know how easy (ok, and fun) it is to "share" pictures, videos, and internet links with our friends and family over social media.  Well, the better the images, the higher the likelihood that the recipients will actually open your link! To capture those pictures, and yes...video, your Realtor will likely need to photograph your home at different times of day in order to to capture it in its best light; interior, exterior, and even surrounding attractions (parks, lakes, mountain views, etc. if applicable) warrant equal attention as we'll never know exactly which picture caught your buyers' attention.


Any Realtor who can fog a mirror can share your listing with a bazillion real estate websites. In fact, it happens almost on accident while creating a listing on MLS.  But, will your agent create a custom video, and really take extra care in showing your home at its best?  Creating, posting, and sharing an engaging video of your home drastically increases the likelihood of your home being found on the next Google search...rather than one of the other 144 homes for sale in your town. I know this to be true from personal experience. It just tends to be one of those steps that many agents aren't willing or able to do.


3) THE PRE-LISTING & STAGING PROCESSES

Your Realtor should walk your property with you, inspecting its current condition and noting any necessary or strategic repairs or updates your home might need.  Completing this process before the home is actively marketed is just one example of being proactive during the home selling process. Your Realtor may recommend that you make a small repair or update some feature of your home.  He or she may, however, advise you NOT to make an improvement that you were thinking about making as that change may not actually increase your net proceeds.

4) MAKE YOUR FIRST IMPRESSION COUNT
Obligatory cliche number 82: "You only get one chance to make a first impression." That is absolutely true.  You get exactly one shot at being that "NEW" listing, and it's vital to leverage that opportunity. Together, walk through every part of your property and work together with your Realtor to ensure that your home looks its very best for its very first showing.  Make a list of what needs to be moved, packed up, rearranged, put away, etc. I've done this process dozens of times, with great success. Here are just a few great staging tips that I've picked up along the way:

  • Curb appeal get's 'em in the door. Spend a little time and/or money to make the front yard look its best. If they don't come in...they're not buying.
  • Your kitchen and master bathroom sell your home.  Make 'em as close to perfect as you can, even if it delays the listing.
  • Leave the closets half empty (or is it half full?) We want 'extra storage' and this shows the buyer that you've got plenty.
  • Organize EVERYTHING as though it was in a retail store.
    • Fold your sweaters and jeans as though they're on a shelf at the Gap.
    • Organize your shoes.
    • Organize your linens as if Bed Bath & Beyond is comin to do a catalogue shoot.
    • Get those old Slurpee cups and "World's Best Dad" mugs out of your kitchen cabinets. 
    • Organize your garage like a workshop...or better than that, a place to park your cars.
  • Take the "home" out of your house. Take down your wedding pictures and pack up your daughter's softball trophies. De-personalize your house. Let it become their house.
  • Open your window coverings. If they're broken, take 'em down. It brightens the room.

5) SETTING THE LIST PRICE
This might come as a surprise, but your Realtor should not set the list price...you should!  Remember...we work for you. Your Realtor should, however, provide relevant market data as well as a strong opinion as to what your home should sell for. Important Note: If your home is priced improperly to begin with, you will likely lose money, lose time, lose sleep, lose your hair...or all of the above!
Often times, sellers will optimistically (and often with guidance of an overzealous sales agent) list their home at the absolute highest price they could possibly sell it for. This strategy will more than likely bite you on the backside. It typically leads to a long, slow, and painful transaction. After a couple of weeks on the market, with little or no activity, the property will start to appear “stale” to potential buyers and their Realtor. “I wonder what’s wrong with that property? Why is it still on the market? Does it have a pest problem or foundation issues?" This is what the discussion around the water cooler sounds like.
The opposite scenario (listing too low) often appears to yield fantastic results! Although it is the lesser of two evils, it is by no means the best case.  This strategy often sounds something like this. "WOW! We got 6 offers over the first weekend and we ended up selling our house for $15,000 over our asking price! YEAH! Our Realtor is AWESOME!”  Now don’t get me wrong, this can be a fantastic turn of events, and your Realtor may in fact be awesome. However, this circumstance is far more likely an indication that your property wasn't listed high enough to begin with and it could have (and should have) sold for $25,000 over the asking price...if your Realtor was "actually" awesome. You've GOT TO get the initial list price right in order to secure the highest and best offers, and I've got a pretty strong track record in doing exactly that.

6) STRATEGIZING
When your home can be listed is very different from when your home should be listed. Your sales plan and strategy must keep in mind in relation to what you discovered during point #1.

  • When will we be reviewing offers? 
  • How aggressive will be we be with regard to negotiations? 
  • How often will we hold the home open?
  • When will you be able to vacate the property?
  • Etc.  

The answer to these questions change depending upon the motivating factors of the seller. So your realtor should create a plan based around your needs and motivating factors. Most agents are pretty good about having a plan. "OK. Let's create a plan and stick to it!"  That's a great idea, in theory, but this is real life. Sometimes life brings unexpected changes, and those changes are best met with intelligence and flexibility.  Yes, we'll create a plan, and we'll execute that plan. But we'll keep flexible enough (when possible) to address these changes if and when they arise.

7 ) MARK IT AS 'COMING SOON'
Actively and strategically marketing your property before it’s actually available for sale tends to create an inflated interest and curiosity in your property. This is not just for the public, but for or local area Realtors and brokers as well.  Intentionally creating this sort of ‘feeding frenzy’ mentality increases the initial demand for your home hopefully, resulting in several willing and able buyers once you 'go live.'  This is an absolute ideal condition!  Sharing the upcoming listing at office meetings and brokers tours, as well as placing a highly visible "Coming Soon" sign at your house are just two ways of getting the word out early.

8) DO A FINAL WALKTHROUGH
Once again, your Realtor should walk the entire property with you one more time.  Pay attention, inside an out, making sure that you've addressed any little (or big) repairs that were discussed in your initial walk-through. Make sure that you've really nailed the staging; the front yard, the back yard, the side yards, and every room inside the home. Be sure that you're ready...then, as stated in point #2, it's time to capture pictures and videos!

9) LIST WITH THE RIGHT BROKER
In the areas I serve (Redlands, Yucaipa, Calimesa, Cherry Valley, Beaumont, and beyond) there is Century 21 Lois Lauer Realty, and then there's "everyone else".

When I moved to Southern California from the Bay Area, I could have gone to any office...and I almost did, but ultimately I came to Century 21 in Yucaipa because of their dominance in the marketplace. We've got well over 100 agents between our two offices and have been the industry leader in our area for decades. Seriously? Why fight it? Century 21 Lois Lauer Realty became as successful as it is for many, many reasons. As a home seller, why not leverage those reasons? Leverage their advertising budgets, the enormous networks, their position in the community, their relationships with lenders, escrow, title, and take advantage of the systems that only the very best brokers have mastered.

Know in advance that listing your property for sale is typically the easiest and least stressful part of selling your home.  Next comes reviewing offers, negotiation the terms of a contract, overcoming obstacles, and navigating the closing process.  Each of these are equally important and equally complex.  Make sure that your real estate agent is well equipped to handle all of these areas before you pull the trigger and sign that listing agreement.

Much more to come on the topics discussed above, but this ought to be enough to give you a better perspective on what's important during the home selling process.  I hope you took something valuable away from this post.

Thanks in advance for remembering my name when the topic of Real Estate comes up in conversation.  If you're local , just remember Andy@LoisLauer.Com I'm always here to help.  
My business thrives by word of mouth.  If you appreciate the information provided on my blog, please share this post on your favorite social media sites, and with anyone you feel could use my service.

Until next time.


















Andy Blasquez - 
Cell ~ 909.539.3292
BRE#01826135
Please follow and share YucaipaRealEstateTrends on Facebook
AndyBlasquez.Com
Andy.Blasquez@gmail.com

Thursday, January 1, 2015

How To Find The Best Realtor: Questions to ask when interviewing Realtors!

Wait, you mean I'm supposed to interview Realtors?  



Real Estate in RedlandsOh trust me, yes you are! Consider it an investment; both in terms of peace of mind, as well as in financial terms. Fringe benefit? It's often an eye-opening and entertaining process!

Keep this Miles Kington quote in the back of your mind as you read on. I'll bring it back up at the end of the post.  "Knowledge is knowing that a tomato is a fruit. Wisdom is knowing that a tomato doesn't belong in a fruit salad."  Knowledge, without the wisdom to apply it...is useless. 

When interviewing a Realtor, it's wise to have a list of questions to help you make your decision.  Don't be shy.  Write 'em down and keep 'em by your side.  The fact that you are prepared will make some agents shake in their boots.  Knowing that you're prepared makes this agent (me) confident that we're ready to proceed to the next step in the listing or buying process!

I was recently interviewed by a prospective client who, with the greatest of intentions, decided to grill me with a canned set of questions that he had pulled from About.com.  There are dozens of sites that list questions that your often unsuspecting Realtor ought to be able to address, swiftly and comprehensively.  I'll list several for you to look through at the bottom of this page. 

As you read, keep these points in mind: 
    Yucaipa Real Esatate
  1. The quality an interview is based on the quality of questions asked. Answers, and the questions that prompt them, need to be important, relevant, and easy to understand.  Simply put...they need to matter. Without clear communication and understanding, the interview process is a complete waste of everyones' time, so know what you want to know...and don't end the interview until you've got your answers.
  2. The answers you receive from various agents are circumstantial and are based on his or her unique strengths, weaknesses, and professional experiences.  Different responses don't mean that they're wrong.  Sometimes the odd answer is the right one! 
  3. Always ask "Why?"  I call that part "the juicy part."  I'm less concerned about what occurred, and more concerned with why. That's the answer we really need to know.
  4. Don't get freaked out by all of the 'jargon.' If you don't understand a term, phrase or idea...STOP!  Interrupt and ask for clarification!  Remember, you are the boss!
Q1: What is Your Average List-Price-to-Sales-Price Ratio?
A1: Huh? 

Yep!  That's a good one!  Wait! What does it even mean?  If an agent lists a property for sale at $500,000 and sells it for $510,000, the List-Price to Sales-Price Ratio is 102%. That's awesome...isn't it?  Maybe!  This might sound ridiculous, but one could effectively argue that a property's list price might as well be completely erroneous. A home will sell for what the market will bear.  I can say that if you're asking a true Real Estate professional, your property will sell for exactly what the market will support... under those market conditions...and that seller’s unique circumstance.  They always do, and they always will.   

Example: I recently saw a really desirable property listed for $228,000.  It closed almost instantly at nearly $100,000 over the asking price!!!  Obviously $228,000 was not the market value! So why would a listing agent do that?  I can only speculate that the sellers needed an immediate offer to keep their property from foreclosing. They immediately received several offers, took the best offer, then closed.  OR...I could completely be wrong.
*Notice that I remarked that the seller "took the best offer."  "Best" might have been the one which could close the fastest.  Perhaps this property could have sold for even higher if the seller's circumstances were different.  

NEXT..., and does this actually matter? 

Q2. What is the average number of days that your listings remain active?
A2. 19 days! 46! 107!

Real Estate Data - Andy Blasquez
What's best?  What's ideal? What should I expect?  If we don't know what the data means, we can't know what the best answer is.  Historically, the actual median Days on Market is around 45 days.  If you sell on the first day, you might have been under priced.  If you're sitting on the market 4 months after your listing date...you may be over-priced.  "All else aside, shouldn't my Realtor sell my home as quickly as he or she can?" We'll never know the answer to that question until we know the factors that are motivating the seller.  

Example: A young family decides that Dad is going to take the promotion and move to a new city while Mom keeps the home fires burning and gets the home sold for the highest possible price.  Dad leaves. Mom lists the property at the top of the market and they wait for the right offer to come.  After a few weeks the family decides that being apart isn't as easy as they thought and they decide to sell the house as quickly as possible so they can be together again.  How long a house stays on the market is, for all intents and purposes, is up to the home sellers.  How motivated are they to sell?  Are they waiting for the perfect buyer? Are they trying to avoid foreclosure?  Are they trying to get moved into their new place before the baby gets here? Days on Market is not an indicator as to how effective an agent is, but an indication of how long it took the seller and the open market to meet.

Q3. How Long Have You Been in the Business?
A3. 4 Weeks, 4 Years, 40 Years. What's the right answer?

I wish it was that easy.  In a market like today's, a new agent might not yet be equipped to handle on the spot negotiation, nor will he or she have the strong reputation that gives listing agents and their sellers the security they are looking for to go into contract.  That said, I have met many, many brokers and agents that have been in Real Estate for decades, yet they can't find their respective backsides with both hands!  The question "How long have you been in the business?”   ought to be changed to “Could you please explain what makes you an effective buyer’s agent or listing agent?”  It's not one's ability to close a deal, or to sell quickly that matters. It's your agent's ability to work, effectively and efficiently, representing his or her clients' unique needs, wants, budgets, and timelines. 

Q4: If I wasn't going to use you...who should I use?
A4:__________________(crickets) 

If this questions doesn't elicit an intelligent and sincere response, you've got room for doubt.  If it elicits some canned, smarmy, 'used-car-salesman' response...

...RUN!!!!!!

Looking back at the quote at the top of the post: "Knowledge is knowing that a tomato is a fruit. Wisdom is knowing that a tomato doesn't belong in a fruit salad." is really a perspective I want you to hold onto when you're looking for your next Realtor.  Market knowledge isn't what's important.  What you do with it is!  

Below are a few links to sample questions you might choose before you interview at least 3 agents.  It's important to note that each site you find with similar questions will have a self-serving agenda.  Remember to use these questions to suit YOUR agenda...not theirs.  

Interview Questions from Realtor.Com
Interview Questions from the National Association of Realtors
Realtor Interview Questions from About.Com

As always, please feel free to e-mail, call, or text your questions to my contact information below.  I hope this post leaves you with the understanding that real estate isn't a mystery. You don't need a crystal ball.  You only need the truth. You need the facts, strategies, and discipline to follow through. I'll sit with you, side by side, while we discover the facts that pertain to a property you're thinking of selling or are interested in buying.  No gimmicks. No games. Just insight, foresight, experience, strategies...and the truth.

Thank you in advance for remembering my name and this site, when the topic of Real Estate comes up.  I'm happy to help in any way I can.  Also, if you enjoy what you find on my blog, please share this post and "like" and comment on my Yucaipa Real Estate Trends Facebook page.

Until next time,

Realtor in Yucaipa and Redlands



















Andy Blasquez ~ The last Realtor you'll ever need to look for.
Cell ~ 909.539.3292
Andy.Blasquez@gmail.com


Wednesday, December 17, 2014

An Introduction: No Hair Spray or Polyester, Just the Truth!

Have you ever seen "this guy?"  I know you have!

Realtor in Yucaipa

We've all seen that guy or gal; that "salesman" who is obviously paid based on commission.  Push, lie, mislead, whatever it takes...but close that deal!  My first experience in Real Estate was with with an agent that might as well have been this guy!  It turned me off from buying a home for several years.  Let me say this up front.  This...isn't...me.  No hairspray. No polyester.  Just the truth.

This short bio is designed to give prospective home sellers and buyers some insight into my background, specific skill sets, my experience, and perhaps most importantly...my values.

I chose real estate as a career for four reasons: 1) I love the hard and soft science of business; where psychology and data meet! Real estate is a dynamic and exciting business to be in. 2) My first, and second...and third...experience with Realtors left a bad taste in my mouth.  I saw a lot of room for improvement.  I wanted to bring that improvement. 3) I wanted to work for myself. 4) I wanted to be a part of my boys lives every day, not just on the weekends when I'm 'not working'.  It's been an ideal career thus far and I don't expect that to change anytime soon.

At the time of of this posting I have been a Realtor for 8 years and I can sincerely say that I have enjoyed the journey. As circumstances, laws, market conditions, the economy, etc. continue to change, my experiences and expertise changes as well.  It has to; in order to remain a relevant part of the industry and in order to provide absolutely optimal service to my clients.  I'll never be "done" becoming a better Realtor.  Real estate is not something that is "mastered."  It's has to become a part of you.  It's not a destination. It's a journey; one I enjoy quite a bit.

Real Estate Agent in Yucaipa and Redlands
With my wife, Adrianne, and our sons; our purpose...Michael, and Jeffrey.
I grew up in the beautiful communities of Alamo and Walnut Creek. CA; about 30 minutes east of San Francisco.  I know the area up there like the back of my hand.  Recently, I relocated to Yucaipa. I'm finding the process of "knowing" the area even easier than it was for me up north.  While in the Bay Area, I adopted preconceived ideas about towns, cities, neighborhoods, etc.  Many of those preconceptions were absolutely accurate, but some weren't.  Some caught me completely off guard.  A few areas that I thought I really knew actually needed reinvestigating time and time again.  In Yucaipa, however, I have no preconceived notions.  I've had to take the labor intensive, yet far more analytical (and as a result more practical and accurate), and data driven approach to learning and knowing this area intimately.  So how is that easier than growing up in the area? Simply put, I've had nothing to un-learn.  "Facts are friendly," I often say.  What I've learned, and continue to learn, is based solely on the facts; the truth, and we all want the truth, don't we?

So...why do I write this blog?  
  1. I'll get this out of the way early; the truth. One of the main goals of this blog is to secure more clients, but it is also to attract "well informed" clients.  I created this blog because I can't be everywhere all of the time. I hope, as with the blog I created up in the Bay Area, that this blog becomes a valuable resource for you.  If past experience is any indication, this site will be my number two source of clients; second only to referrals by prior clients. Seriously though, if this blog didn't generate income, I wouldn't write it.  Ok...maybe I would, but still ;)
  2. Another goal is to give my readers a crystal clear understanding of who I am.  I want you to see me not just as an excellent Realtor; with a set of skills and experiences that repeatedly prove to be effective in the Real Estate arena, but also to see my character and the values I live by.  
My goals are simple but not easy:
  • I will provide objective market data
  • I will illustrate the trends that the market data is indicating
  • I will then translate those often complex facts and figures into simple, yet practical real estate market trends
  • I will continue to do everything I can to empower prospective homebuyers and sellers by simplifying and clarifying the home buying and selling process.  I am a resource, and forgive my directness, but frankly I'm a wealth of information and experience. That said, I believe that my clients ought to be at peace with the choices they make, and the only way for that to happen is for them to truly understand where we are in the process (and for them to draw their own conclusions based on the truth; the facts).  Of course I will give suggestions and advice; "What might happen if..." but ultimately my clients need to be at peace with the choices they make. They need to be in the driver's seat!

Illustrations and instances discussed within these blog posts often help to explain the juicy parts of the industry; the "Why?"  "Why did that house sell in 3 days and the same one across the street is still on the market after 90 days?"  There's an answer. There always is.
These posts will typically focus on the topics listed below. However, if there is a Real Estate related question that you'd like me to address on this blog, I'm happy to provide that support.  If you've got a question, odds are, others do as well!

Topics will include:
  • Market trends as they appear from both the home buyers side as well as the listing side.
  • Dynamics of buying and selling real property.
  • The Short Sale Process.
  • Unique experiences I've successfully (and a few not so successfully) worked through.
  • Changes in Builders' selling strategies.
  • The art and science of effectively selling your home.
  • Shining a light on common, very costly mistakes, home buyers make.
  • Contrasting conditions and trends between differentiated markets.
  • and much more.
If this first post leaves you with anything, I hope it leaves you with the understanding that real estate isn't a mystery. You don't need a crystal ball.  You need the truth.  You need facts. Facts are friendly, and I'll give you the facts. In fact, I'll sit with you, side by side, while we discover the facts that pertain to a property you're thinking of selling or are interested in buying.  No gimmicks. No games. Just insight, foresight, experience, strategies...and the truth.

Until next time.

Realtor in Redlands



















Andy Blasquez ~ The last Realtor you'll ever need to look for.
Cell ~ 909.539.3292
BRE#01826135
Andy.Blasquez@gmail.com