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Real Estate Tips
The Home Buyer Offer that Went No Where
July 14th, 2008 categories: Real Estate Tips, Sacramento, Seller
Real Estate is serious business. Making sure that you have a Realtor who knows the real estate market and how to price homes is essential when buying and selling a house or condo.
Recently, my home buyers wrote an offer on a house for sale in the Sacramento area.
This sale was a “regular sale,” meaning it was not a Short sale nor a Foreclosure, bank owned REO. Just a normal sale as listed in the MLS.
When taking a look at the tax records for this house, it appeared that the listing price was a little under what the seller owed on the house when all of escrow fees would be paid.
However, it is not uncommon to see sellers go to the table (table-meaning go to Title and sign) with the remaining cash owed to the bank in order to save their credit.
It was difficult to talk to the listing agent who did not return phone calls so the home buyer’s offer was sent. In the contract there is a page where the home buyer addresses when they want the seller to answer their offer. By contract, it is important for the seller to respond to the home buyer’s offer in a timely manner.
Otherwise, there is no point in having a contract…you need to abide by the contract and follow it. Time is of the essence.
Unfortunately, this did not occur. The timeline was ignored. Remember, this is not a bank that the home buyer’s offer was being sent to, it was a seller through their agent on a regular home sale.
After many phone calls it became obvious there was a problem. Not only did the agent not return phone calls but when agent did communicate, I was told that the offer had been sent via email and the seller didn’t understand the offer.
No kidding! It is important that the listing agent provide the seller with a net sheet showing all of the fees and the bottom line of what the seller will net in the sale of the house and this should be done in person.
Click the highlighted link to view a sample of a what a Home Seller Net Sheet.
At this point you are probably wondering if the seller was living out of town, no the seller was within a short 10 minute drive.
When I was told that the seller was not very motivated, I asked the “big” question. “Is your seller upside down on this sale?” The answer that I got was shocking. “I don’t know,” said the agent.
It is so important that when you hire someone to sell your house or condo that you make sure that the agent knows how much you owe and any prepayment penalties that might occur once you pay off the loan. If the sale of your house is close to what you owe, are you willing to pay the difference in order to keep your credit standing? If not, then you need to discuss the possibility of a short sale with your agent.
Don’t just put up stupid prices and then change them. Remember, the house has to appraise.
The end of this story is that while all of this was going on, my home buyers found another house and they were accepted before the previous offer ever even responded. It all turned out for the best with a better house for my home buyers.
When we finally did get a response in the form of an email, it was not to accept our offer. When looking at the MLS I noticed that the listing agent increased the price of the house by $5,000.00 from our original offer. Now, why they did not counter…is beyond me.
No counter, no nothing. Certainly, left us scratching our heads. This will be a house that I will follow to see what actually happens in the end. I have a strong feeling that this is house will end up a Short Sale without the seller or the listing agent realizing it.
It is so important to price your house for sale correctly and for the listing agent to return phone calls especially when you have home buyers who are willing and able to buy your house.
When deciding who should list your house, I recommend that as a seller make sure that your agent provides you with a net sheet before listing your house. You need to know if you are upside down on what is owed on your house and be given the opportunity of knowing what the real estate market indicates that your house will sell for before you list your house for sale.
To sum up, here are some key elements to keep in mind when you list your house for sale:
- Provide your agent with balances on your mortgage loan(s)
- Provide your agent with the terms of your mortgage loan(s)
- Have the agent provide you with a net sheet
- Have the agent provide you with a CMA (comparative market analysis)
- Have your agent sit down and explain all offers in detail and provide a net sheet with each offer
- Make sure that you hire an agent that communicates and returns phone calls
Most importantly, hire someone that knows what they are doing. Your house is more than likely the largest asset that you have and you deserve to have good representation.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe 
to get the latest articles sent to your email.
If you have a real estate question that you would like an answer to be sure to check out 
and read what other home buyers and home sellers have asked or feel free to ask your Real Estate question by email.
And of course if you are interested in buying a home or condo or selling your home or condo, feel free to contact me and lets talk.
Other Seller Related Articles:
What Do Home Prices and Gas Prices Have in Common
Dress Your Home to Sell-Inside Home Seller Tips
Dress Your Home to Sell-Outside Home Seller Tips
What Every Home Seller Should Know
| Discussion: 2 Comments »
What Do Home Prices and Gas Prices Have in Common?
June 18th, 2008 categories: Real Estate Tips, Sacramento, Seller
Ever wondered why your house isn’t selling?
Think your house should be more money than your neighbors?
In today’s Real Estate market, it is key to have your house priced correctly from the start.
Don’t make the mistake of over pricing your home. That’s what we call in the real estate business, “chasing the market.”
Running after the market is disastrous, you never catch-up and are always behind. Which means you are overpriced.
When thinking about pricing your house, think about an intersection where there are four gas stations, one each corner. Which one do you think you will pull into? Yep, the one with the lowest price.
The home buyers are thinking the same way. Home buyers are looking for houses in move-in condition that are priced correctly. Their professional full time realtor is quick to tell the home buyer if a house is overpriced for a neighborhood.
Be sure to listen to your Realtor when they counsel you on an appropriate price for your home. They have the experience and the know-how to back-up the asking price for your house.
An overpriced listing is not shown or may be shown in order to make a point to a home buyer that the house down the street is priced correctly. Guess who sells?
Yes, it’s a home buyers real estate market and your price needs to reflect that. Most home sellers are also paying the closing costs now. It is much harder for a home buyer to qualify for a mortgage loan and interest rates are going up so if you need to sell, it’s important to be priced correctly and be willing to help the home buyer with closing costs.
If you should receive an offer from a home buyer who is obtaining a VA loan, remember that the VA appraiser will be looking for health and safety issues which the seller must repair or replace. There must be a section 1 clearance for Pest and the underwriter can call for the seller to pay for section 2, as well.
Be sure to have your home ready to place on the market for sale, for pointers be sure to check out Dress Your Home to Sell-Inside Home Seller Tips and Dress Your Home to Sell-Outside Home Seller Tips.
Who knows, I may be showing your home next. We have quite a few first time home buyers and home buyers relocating to Sacramento.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
If you have a real estate question that you would like an answer to be sure to check out and read what other home buyers and home sellers have asked or feel free to ask your Real Estate question by email.
And of course if you are interested in buying a home or condo or selling your home or condo, feel free to contact me and lets talk.
Other Articles of Interest:
Tips In Preparing Your Home For Sale
What Every Home Seller Should Know
Sellers, Do You Know What You Should Expect?
Zillow for a Zestimate…Yes or No?
| Discussion: 2 Comments »
Here’s How to Live in Your Home Without Paying
June 13th, 2008 categories: Mortgage, Real Estate Tips
Do you own your own home? Are you at least 62 years young? Are costs today, interfering with the way you thought you would live out your life? There is no reason to scrimp and do without during the last half of your life.
You’ve worked hard, paid your bills and now it’s time to relax and not worry anymore. Let your house pay for you, now. Reverse Mortgage is the way to make this happen.
It is safe as long it is backed by FHA. Don’t be caught like Ed Mc Mann in your 80’s without a house or not have enough money for living the life you planned due to the high cost of fuel, food, medications and health care during your retirement.
This week I had the opportunity of speaking to Kimberly Keith who is handling the loan for one of my current home buyers in Cameron Park, CA. During our conversation, we discussed Reverse Mortgages and I asked Kimberly to be a guest author on Sacramento Real Estate Voice to bring her professional prospective on Reverse Mortgages. I hope that her article will help answer some of your questions about Reverse Mortgage. So, without further adieu, here’s Kimberly Keith.
Many people have heard about the Reverse Mortgage, however few really know how they work. The mystery and intrigue surrounding the reverse mortgage is being eliminated as many are becoming informed regarding the program and realize that a reverse mortgage can be a valuable tool to supplement fixed incomes and meet the dramatic increases in our ordinary, daily, living expenses.
Let me first try to dispel the rumors regarding the reverse mortgage. It is not true that you will no longer be on title to your home or that the bank will own your home in its entirety! The title and financial responsibility of the home, such as homeowner’s insurance and taxes, continue to be the homeowners’ responsibility.
Another vicious rumor is that you could actually owe more than the value of the home and that if you die you would be leaving a debt, not the asset of your home, to your heirs. Absolutely untrue!
The reverse mortgage is considered a “non-recourse loan”. What this means is that you will never owe more than the appraised value of the home at the point of sale or the time of a refinance.
The money from the reverse mortgage is also considered an alternative income and as such, is tax-free and will not affect regular Social Security or Medicare payments. It is always recommended that a homeowner consult their tax advisor or attorney regarding their specific situation. Payment of the reverse mortgage is deferred (not due) until the surviving spouse dies or sells the home. The money you receive from a reverse mortgage can be paid in a lump sum, monthly payment or a line of credit or a portion of all three. How you use the money is completely up to you!
The reverse mortgage requires owner occupancy so, in order to be in “violation” of this requirement one or both homeowners would have to be hospitalized or in assisted living for a complete 12 month timeframe. Additionally, if either came home for even one night, the 12 month timeframe would start again.
So, after explaining the truths regarding a reverse mortgage you may ask who is qualified for one? If you are 62 year or older and own your own home, you may qualify! Your age at the time of your application, current interest rates, the appraised value of the home and the type of reverse mortgage that you apply for can affect the amount of money you may obtain. Generally, the older you are and the more equity in your home, the larger the reverse mortgage may be.
The process of obtaining a reverse mortgage is easy. I can review the loan program with you and would welcome the participation of another family member, and/or financial advisor, lawyer or accountant. You are required to obtain government approved, independent and free counseling to ensure that all your questions are answered. An application is then taken and the file is sent to the investor. After credit approval, your home will be appraised and together we will meet any additional underwriting conditions. Finally, after the loan is approved and the documents are drawn, we will sign loan documents. Your loan will fund and shortly thereafter you will receive the funds agreed to and in whatever manner you have decided on.
Please know that a reverse mortgage may not be right for everyone. I promise to make sure the information regarding this program is presented to you in a clear, concise manner so you can determine if a reverse mortgage will help you be more financially secure. If you would like additional information regarding this or any other loan program, please call. I look forward to speaking with you!
Kimberly Keith Mortgage Planner
Ph: (888) 429-7714
Fax: (530) 252-1544
Thank you, Kimberly. I hope that some of the questions that you may have had about Reverse Mortgages have been addressed. If not, feel free to give Kimberly a call.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Other Articles That May Be of Interest:
Reverse Mortgage Helps You Stay in Your Home
Retire in Elk Grove California
Active Adult Communities Around Sacramento
| Discussion: Comments »
What Home Buyers Sometimes Experience
May 30th, 2008 categories: Real Estate Tips, Sacramento
Current home buyers I have been working with in Sacramento will need to replace the roof on the house they are buying. The Sellers agreed to a limited amount of repairs on their home for sale and took a lower price.I have bought the home buyers a little time by obtaining a 2 year roof certification for the current shake roof but before long it will need to be replaced. Before a legitimate roofer will certify a roof, they inspect the roof to ascertain if any repairs are needed.
It is important to note, that although you may like tile roofs, unless the house was built originally to support a tile roof, this is not an option. But, read below because there is always a solution to each and every so-called problem.
While investigating roofs and options for the home buyers, I thought I would share what I have discovered as it might serve several homeowners that might be in the throws of choosing a roof for their home. There are so many possibilities and so many colors and styles in which to choose.
Although shake roofs are very aesthetic, they really are not practical in some areas and very costly to maintain not to mention a fire hazard and of course environmentally, not in the best interest of “Mother Earth,” since shakes are made of wood.
Composite Roofing, also known as Asphalt Shingles is typically what most homeowners choose and 
certainly has merit. Usually a composite roof lasts about 20–30 years and comes in a variety of colors. There are different qualities of composite roofing to chose from.
Standard is a 3 tab with the next upgrade being called an architectural shingle which is twice as thick and the layers staggered.
When upgrading colors may resemble slate and wood shakes.
Depending on the value of your house, depends upon the value of composite roofing you should choose. Choose wisely since a roof is there for a lifetime and a good investment is a wise investment. It can add value to your home and add to your curb appeal.
Of course how big your home is and what the current roofing material is contributes to pricing.
To give an example of pricing, where a composite roof will cost approximately $16,000, a Gerard Roof below would cost $36,000.
There is a new product that is stone coated steel known as Gerard Stone Coated Roofing System and has a warranty for the lifetime of the owner. Their roofs have a variety of looks from asphalt shingle, clay tile, cedar shake or slate.
Although, this product is more expensive than composite, it is environmentally responsible and requires no tear off and it is recyclable.
Remember, that none of the pictures to the left are actually tile or shingle, they are just made to look like it.
To read more about choosing roofing materials be sure to check out This Old House where each roofing choice is detailed. It is a good source on roofing to start from and get familiar with roofs.
In the next couple of weeks the home buyers will be closing on their new home. I attend all closing which is when the home buyers sign all the paperwork at the Title Company. It usually takes about 24 to 48 hours before the Lender funds the loan and the County records the Deed of Trust.
Once the Deed as been recorded, the fun part begins for me. It’s my favorite part. Handed over the keys to the new owners and working on a gift that will be special just for them is the reward I receive when looking into their eyes. I love real estate and I love working with home buyers and home sellers.
If you are looking for a house or condo in or around the Sacramento area, I would love to help you. Remember, that the first step towards responsible home buying is to meet with a reputable Lender and get pre-approved. It’s important to know what type of loan you qualify for and what your payments will be long before you start looking at houses.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
If you are thinking of relocating as a home buyer or simply considering selling your house, be sure to check a FREE Sacramento MLS of homes for sale.
Other Real Estate Tips:
Burning Real Estate Questions, Answered
Ask Gena Answers Homeowner Question
Property Taxes-Something for Homeowners to Consider
Money in the Pocket of Placer County Homeowners
First Time Homeowner Tax Deductions
Dress Your Home To Sell-Inside Home Seller Tips
Dress Your Home to Sell-Outside Home Seller Tips
What Every Home Seller Should Know
Tips In Preparing Your Home For Sale
Sacramento Home Buyers Searching for the Right House
Sacramento Realtor Talks to Home Buyers
Baby Steps When Buying a House
| Discussion: Comments »
Real Estate is Making a Come Back
May 22nd, 2008 categories: Real Estate Tips, Sacramento
This week I have been on the home buyer road of home inspection in real estate. In the Sacramento and surrounding areas, it is most important for a home buyer to have a home inspection of the house they are buying.
There are some key aspects to a home inspection that are necessary in order for both for the home buyer and the home seller as well as the Realtors involved to establish.
- Home Sellers should vacate the house during the home inspection
- Home Sellers and Home Buyers should allow anywhere from 3–5 hours for a home inspection depending on the size of the property as well as the condition of the house.
- Realtor representing the home buyer needs to be present during the time of the home inspection.
- No house is perfect, concentrate on the BIG things and ask the Seller for those items which would hamper your ability to buy the house.
- Seller is not obligated to agree to fix anything
The Home Inspection is a time for the home buyer to get to know the house that they will soon call home. Sellers should not be present as this does not make the home buyer feel comfortable. Let the home buyer get to know the house…you do want them to buy the house, right?
The home buyer’s Realtor will be present during the entire home inspection so all parties should feel comfortable. Since there are some agents who simply open the door for the home inspector and leave, it is important the seller ask that the buyers agent be present. No Realtor should be so busy that they don’t provide this service to their home buyers as well as to the seller. This is just part of the job that an experienced, knowledgeable Realtor with a good work ethic provides.
Many of my home buyers bring their measuring tapes (I have one in the trunk for those needing one), to measure rooms and planning where their furniture will fit. This is also a time to go over many disclosures that the home Seller has provided the home buyer.
This is an exciting time for the Home Buyer since it will be just a matter days before the house becomes their home. It is also a time, if the repairs to the house are not made by the home Seller that the home buyers may decide to back out and look elsewhere.
I also caution my home buyers to go over the home inspection report carefully with me and with the home inspector, be aware of all the items the home inspector found and decide which items are of such consequence that if not fixed they would not buy the house. A home buyer never wants to “nickel and dime” a home seller with each small detail that could be easily fixed once the home has changed hands.
Frankly, it is a good idea for a home seller to have their own home inspection prior to listing the house so that the items can be fixed initially and the house is in top shape prior to listing the home for sale.
The home buyers this week were extremely lucky to have had Brenda as their home inspector since she spends time with the home buyers pointing out the flaws of the house, long term maintenance of the home and provides photos as well as a manual on how to take care of their house once it is theirs. Brenda is thorough and each home buyer I have had is impressed by her thoroughness, knowledge and capability as well as the binder presentation that she provides of each home inspection.
This week has been a busy week with all the home buyers scheduled for home inspections and meeting with each of them to pin point the items they each plan on asking the home seller to repair or replace.
Real Estate in the Sacramento area has picked up and the home buyers are moving into Elk Grove, Cameron Park, Roseville and Granite Bay, CA with many more scheduled in the upcoming weeks.
I see a change in Real Estate for the Sacramento area with an upswing of home buyers and homes selling. If you are thinking of buying a house or condo, don’t wait too long…by the time the newspapers tell you that Real Estate is on its way back up, you’ll be a month behind. Just make sure that your offer reflects a percentage of what you think the housing market might go down to. You’ll be money ahead!
Since gas prices are sky high and the Memorial Day weekend is approaching, you might want to take your family and friends to the Sacramento County Fair at Cal Expo. The Fair begins May 22, 2008 and ends May 26, 2008. Go for the food and stay for the fun!
If the Fair is not your thing, then be sure to attend the Jazz Jubilee in Old Sacramento. For discounted tickets to the Jazz Jubilee.
If you have a Real Estate question, check out and read what other home buyers and home sellers have asked.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Other Real Estate Tips:
Burning Real Estate Questions, Answered
Ask Gena Answers Homeowner Question
Property Taxes-Something for Homeowners to Consider
Money in the Pocket of Placer County Homeowners
First Time Homeowner Tax Deductions
Dress Your Home To Sell-Inside Home Seller Tips
Dress Your Home to Sell-Outside Home Seller Tips
What Every Home Seller Should Know
Tips In Preparing Your Home For Sale
Sacramento Home Buyers Searching for the Right House
Sacramento Realtor Talks to Home Buyers
Baby Steps When Buying a House
| Discussion: 2 Comments »
Burning Real Estate Questions, Answered
May 12th, 2008 categories: Ask Gena, Real Estate Tips, Realtor
Hope all you Mother’s had a wonderful Mother’s Day yesterday and did something special.
I know I did, I spent it with some long term clients who are friends and had a wonderful BBQ and shared some wine and conversation…then it was off to look at homes. Next, we will write an offer on a house they chose on Mother’s Day in Elk Grove, CA.
Now, let’s get to those burning real estate questions that have been coming in.
Today, our 1st question is from a home buyer who has a VA loan approval.
Hi Gena,
We are pre approved for a Veteran’s Home Loan and want to buy a house. We have been looking at some bank owned homes but want to know if what our realtor told us is true or not. She said, that we have to be careful when looking at bank owned homes because they might not approve them for a loan. Is that right?
Sincerely,
Excited Home Buyer
Dear Excited Home Buyer,
First let me say, congratulations on getting your loan approval. So many home buyers forget that vital step and have no idea that it is essential at the very beginning. So, give yourself a pat on the back.
Your Realtor is correct. If the property has any health and safety issues as well as hazards then VA won’t approve the loan. Most bank owned properties are sold as-is which makes it difficult for you to make an offer. However, there are some out there that are very clean and in my opinion would meet the VA standards but you have to sift through them to find one that would be suitable.
Good luck to you and hope you find a clean one.
Gena
Dear Gena,
As a home seller I want to know if I should be present during the home inspection of my house or if my agent should be present. I don’t feel comfortable having strange people in my house. What is your opinion?
Reluctant Home Seller
Dear Reluctant Home Seller,
If you put your house up for sale and you accepted an offer from a home buyer, it is your duty according to the contract to make the house available to the home buyers, the home inspector and the home buyer’s agent.
It sounds as though you may be going through some separation anxiety about leaving your house. Try packing a few items and thinking about the home that you will be moving to. You need to focus on leaving and beginning a whole new life in a different house. It’s time to let go of this one.
Making sure that the home buyers feel comfortable in the house is essential. As a listing agent, I always instruct my home sellers to leave the house when buyers are looking and certainly for a home inspection. This is not the time to be in the house. The home buyers agent will make sure that everything is left as it was before you left. Don’t worry.
Now pack and get moving…
Gena
Dear Gena,
I would love to buy a house now with prices so low but I don’t want to sell my house for nothing. The bank owned homes are bringing the value down of my house. What do you suggest I do?
Scared to Sell
Hi Scared to Sell,
My suggestion is don’t sell. Simply rent out your house and buy another house. Make sure that you check the renters credit and call for references before signing a rental agreement and get the 1st and last month’s rent as a deposit.
Then when the real estate market returns, think about selling your rental or maybe by that time you will like being a landlord and be ready to buy another house to rent out.
Hope that helps.
Gena
Those are our real estate questions for this week. If you have a burning real estate question that you would like to ask the Real Estate Broker, Gena Riede simply email your question and it may be featured. All identifying information is removed so that no one will know who you are so feel free to ask your question.
If you have a Real Estate question, check out and read what other home buyers and home sellers have asked.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Other Real Estate Questions:
Ask Gena Answers Homeowner Question
| Discussion: Comments »
Cut Your Property Taxes
May 9th, 2008 categories: Real Estate Tips, Sacramento
REDUCING REAL ESTATE PROPERTY TAXE IS FREE!
Every homeowner in Sacramento County, Placer County, El Dorado County and Yolo County need to be aware of the latest scam.
I can’ t believe all the people who stoop so low to take advantage of people.
Listen up, this is really going on and just in case you missed this in the news, Sacramento Real Estate Voice is looking out for you.
Everyone wants to lower their property taxes, especially those homeowners who purchased their house in 2004, 2005 and 2006. I have written several articles about how you can fill out forms, call the County Assessor’s office and all this is FREE. Let me repeat, you don’t pay anything to get your taxes reduced.
There is a company out there called Property Tax Adjusters, Inc. who has been sending letters to homeowners asking them to pay $95 to have their taxes reduced.
If you are entitled to have your taxes reduced, the County does this for FREE. Please do not be a victim of this. Apparently, the company doing this is not breaking the law but knows how to play the system.
Be alert and know that there are scammers out there, don’t be a victim. Keep your $95 and buy some gas.
For Homeowners living in Sacramento County, , click on the link for forms and phone numbers to reduce your real estate property taxes for FREE.
For Homeowners living in El Dorado County, click on the link for information on how to lower your home property tax bill.
For homeowners living in Placer County, click the link to read and download the request for decline in value for FREE.
For homeowners living in Yolo County, contact the County Assessor’s office at 530-666-8135
Please share this information with your neighbors, friends, family and those at work. I just hate it when people are taken advantage of so please help me to help others.
On a lighter note: Be sure to have a Great Mother’s Day. If you are wondering what is happening around Sacramento on Mother’s Day…here are some choices:
Southside Park - Breast Cancer - Walk to Empower starts at 9:00 am at 2115 6th Street, Sacramento
Mother’s Day Zoo Tour and Brunch at 11:30 at 3930 West Land Park Dr., Sacramento
East Sac Garden Tour, 10 am - 4 pm tickets $20, Lunch by Il Fornaio $15 more info click David Lubin
Have a great weekend and see you first thing on Monday morning.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
If you are thinking of relocating as a home buyer or simply considering selling your house, be sure to check a FREE Sacramento MLS of homes for sale.
Other Property Tax Articles:
Property Taxes-Something for Homeowners to Consider
Money in the Pocket of Placer County Homeowners
First Time Homeowner Tax Deductions
| Discussion: 2 Comments »
Hmmm That Home Looks Good!
April 28th, 2008 categories: Home Staging, Real Estate Tips
Today, I’d like to welcome one of Sacramento’s Best Home Stagers to Sacramento Real Estate Voice.
I am pleased to introduce Lori Kim Polk founder and Lead Designer of Artful Journey Designs and Staging.
I think you will see through her writing the importance of home staging now more than ever. Without further adieu…Here’s Lori…
Home Staging to Real Estate is like frosting on the cake. You dont have to have it, but the cake is OHHHH so much better with it. And the cake sells for more money and quicker too. Funny analogy sure, but actually pretty accurate.
Home staging has gone from a home based business, hobby for some, part time for others, to a legitimate industry. While it has done so, the savvy professional home stager who has a viable business has tools in their arsenal that will make the difference in that sale.
What do I mean? Well, first review the portfolio of the stager you are considering. Does their furniture and accessory package look the same in more than one of their home examples? Do they do the same style without regard for the architecture and style of your home? The professional home stager is fluent in home styles, architecture, decorating styles and demographics for your home before they choose a staging plan for your home.
The professional home stager would not send a bid without having seen your home, just like a Realtor should not give you a price without seeing the nuances of your home and how it compares to the comparable sales. When the professional home stager has done their work with the style, architecture and personality of your home in mind, then the buyer that is drawn to see more. They are not disappointed when they come inside as the interior is what they expect and FITS your home and its architecture.
There are subtle decisions made in the blink of an eye when things are congruent, those decisions are favorable to your sale, when they are off the staging could be nice, but it doesnt quite feel right to the buyer and they dont know why. Often they just dont buy it.
You wouldnt use a hobby dentist, a hobby Realtor as you want their professionalism, experience and marketing knowledge. It costs you no more to have those qualities in a professional home stager. In fact, youve probably seen those homes for sale that have not sold and were staged a second time and then sold? Well, the professional home stager that has studied and applied the tools of their profession knows what to do to make that difference. The home could have a great cake mix of structure but, Professional Home Staging is the icing on the cake for a SALE.
You heard it straight from a Professional Home Stager. Thank you, Lori.
Sellers, please remember that the home buyers are discriminating in their choices of homes. There are a lot of homes on the real estate market for sale, yours needs to be frosted.
If you would like to contact Lori Polk for an evaluation of your home to be staged, her information is below and I highly recommend Lori.
Lori Kim Polk is the Founder and Lead Designer of Artful Journey Designs and Staging, a full service Home Staging and Design company located in Roseville, California. We proudly service Granite Bay, Rocklin, Lincoln, Sacramento and surrounding areas. Call us today at 916-300-0402 for our premier services.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Other Home Staging Articles:
Dress Your Home To Sell-Inside Home Seller Tips
Dress Your Home to Sell-Outside Home Seller Tips
What Every Home Seller Should Know
Tips In Preparing Your Home For Sale
| Discussion: 9 Comments »
Housing Bubble
April 19th, 2008 categories: Mortgage, Real Estate Tips
Housing Bubble video below shows homeowners who got themselves in deep real estate trouble. My guess is that this guy bought his home in the year 2000. Just like many homeowners he made a great deal of equity in his home and thought he could refinance.
Bad idea. Not just because it’s obvious now, it just doesn’t make good sense to rob your home’s equity unless there is a death or severe illness. As you know by the sound of your phone ringing and the junk you get in the mail everyone and their dog is trying to get you to refinance. Don’t do it even when times get good, again. One exception is if the current interest rate and terms are better than what you currently have with your loan. The key word here is TERMS are better.
Now, let’s get back to the little guy in the video who bought his house in 2000.
He says, “Gena, it appraised and then suddenly home prices fell in Sacramento.”
Here is where you need to understand the difference in home appraisals, refi appraisals and CMA’s. There is a difference between an appraisal when purchasing a home and an appraisal when refinancing a house. The big difference is that when purchasing, a Lender is taking quite a big chance on giving you a loan so they want to make sure that the house appraises for at least what the loan amount is.
However, when appraising a house or condo for a REFI, there is equity in a house or condo otherwise you wouldn’t be able to refinance. The lender isn’t taking a huge risk since part of the equity is secured and only a percentage is allowed for refinancing.
Many homeowners decided to refinance and use a great deal of equity that had built up to pay for vacations, new cars, boats and pay off credit cards.
The only trouble with that is that now the homeowner had 2 payments instead of one low payment. This is called robbing your equity.
And oh so many homeowners were quick to refinance their house or condo, assuming the real estate market would continue to rise in Sacramento County. Homes were selling for $10,000 more each week. Oops, it didnt happen and the refinance appraisals were coming in high.
Refinance appraisals are always higher than appraisals for new loans. Banks assume that you intend on living at the property and not selling. They dont think there is a lot of risk associated with refinancing. Or should I say, they didnt think there was such a big risk.
When purchasing a home, the bank sends an appraiser and the appraisal amount for the house needs to reflect the exact amount that the house would sell for just in case the new home buyer fails to pay the mortgage. As you can see, this is a bigger risk for the lender so the appraised amount will be less than a refinanced amount where there is equity.
Since a refinance appraisal includes equity already in the home, this is not as big a risk to the Lender. Hence the higher appraised value.
This all becomes a bit confusing when I meet with home sellers to determine the value of their home. Home sellers that they want to place their house in the real estate market for sale are bewildered when I tell them the value of their house. This is what we call a CMA or Comparative Market Analysis when the sellers home is compared to like homes within a one square mile radius. Sellers are usually shocked at the difference in the two appraisal amounts.
Many of the home prices in Sacramento County are down below 2003 prices with many of them bank owned and in foreclosure. The subprime loan market is responsible for many of these bank owned homes for sale. A few are a result of real estate fraud and mortgage fraud and others due to refinancing or should I say stripping the equity right out of the house.
Can’t tell you how many times I have sat at someone’s dining table to only find that the homeowner had refinanced to buy that boat, the new car or pay off credit cards and take a lovely vacation. And oh so often, very remorseful that they had fallen prey to the refinance bug.
Since the homes have declined in price and the real estate market took a dive, many of these homeowners are now losing their houses. You cant refinance something that has lost value or should I say, youve used all the value up.
Refinancing is not always the life saver that homeowners hope for. Theres a lesson somewhere in this dont use your home to pay for what you cant afford. We need to start living within our means and treat our homes with the respect that they are due.
A place to live and call home is essential in life. It’s time to learn to budget and live within our means. For all you new home buyers out there, remember to honor your home, don’t steal from it.
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Money in the Pocket of Placer County Homeowners
April 9th, 2008 categories: Real Estate Tips
We have been hearing about how property value has gone down, home prices are low, real estate boom and bust, bubble burst whatever
Well, I am here to bring you some good news for a change. Back in 1979 Placer County passed Proposition 8.
Those homeowners living in Placer County, Roseville, Rocklin, Lincoln, Granite Bay, Auburn etc, Proposition 8 Decline in Value is worth taking a look at to see if you qualify in order to reduce your real estate property tax.
This does not apply to Supplemental Tax but to regular property tax billing. Click on Placer County Proposition 8 to view details or download the 2008“09 Request for Decline in Value Review.
So where there is bad news there is also good news. Each county has similar forms to use. Typically, those who purchased homes from 2005 will find a decrease in their real estate market value.
Take the time to review the information on Placer County Assessor website and download the form. You may find that you save yourself a little bit of money.
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.
Other Tax Reduction Articles:
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