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Posts Tagged ‘davis ca real estate’

home buyerIt’s more than just bad luck when a buyer misses out to a more attractive offer. Normally it’s a bad strategy that causes the continued anguish of losing out to better offers. Those that fail to learn from history are doomed to repeat it, that phrase actually works well when attempting to purchase a home in Davis, California. How can a buyer put themselves in a more favorable position?

I have personally worked on both sides of the spectrum. First with sellers that have been fortunate enough to receive multiple offers, but also with buyers that were competing with other buyers for the same property. The process of preparing an offer for a buyer on a home with multiple offers can be agonizing for each party involved. It always boils down to who wants the property the most.

Some buyers will not get involved in a competing war, so that shrinks a percentage of the competition. Here’s an itinerary for those that want to stay in the fray. In most cases, the highest price wins out, but understand it’s not always the price that wins. Buyers have to be willing to bite the bullet and give up some of their contingencies, depending on how many buyers you are competing with. An example, let’s say you make an offer $20,000 above asking price, to make this proposal even more appealing, you might consider removing your appraisal contingency. This only makes sense if the property can justify the higher price. Buyer beware with this tactic.

There are many cash buyers on the market that are purchasing homes and making strong aggressive offers. There are ways to combat those buyers that can at least put you on a more level playing field. Removing your loan and appraisal contingency will do the trick. This strategy only works if you are completely pre approved for a loan and there’s no chance the property won’t appraise at value.

Your realtor should try to get as much information as possible about the sellers needs and requirements. They can do this through conversation with the listing agent. For instance, a seller doesn’t mind a quick close, but wants a 30 day rent back or they desire to sell their home “as is”. Trying to adapt to the sellers needs puts you in a better position.

I also use a tried and true philosophy that seems to work if you have a motivated buyer. This one takes guts and not for the weak at heart. A buyer offers $5000 increments depending on the amount of competition. For instance, a home has two offers, that third offer might consider going $15,000 above the listed price. There are many strategies that can put a family in a stronger position and these are just a few. Please visit my website JohnnyBrooksHomes.com for helpful tips on selling or buying a home or to view all homes for sale in Davis, California and the surrounding communities.

 

 

 

 

 

 

 

 

 

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interior paintWhat a difference a paint job can make. One of the easiest ways to freshen up your home is with paint. If you’re selling, painting your interior walls can give a great return on investment — a much higher selling price for little investment on your part.

If you’ve just bought a home, giving your house a new paint job is the quickest way to make it feel yours. Homes in Davis, California are built on clay soil and with that will come the inevitable settling cracks. Using a drywall expert is highly recommended prior to painting. Retexturing the walls and applying a high quality paint can make a world of difference when it comes to selling a property.

Repair blemishes

If you’ve got cracked or peeling paint, you’ll certainly want to repaint before you put your house on the market. Tired paint makes buyers think the house hasn’t been well maintained. Interior and exterior paint are well worth the price.

Tone down your color scheme

While the colors in your home might appeal to you personally, it’s important if you are selling your home that they appeal to the widest market possible. So that means avoiding bright, unusual colors and changing colors that were fashionable a few years ago but now look dated.

The safest bet is neutral tones. Avoid white in most situations, as this color can look clinical, and instead choose beiges and earth tones. Don’t feel the need to use the same color throughout — choose shades that match with your furniture and fabrics.

Types of paint

If you have imperfections in your walls, choose a paint with a flat finish, as this will conceal them.

Make sure you use washable paints in bathrooms and kitchens — an interior flat enamel is good for this. The cosmetics, like paint and flooring are huge plusses when it comes to marketing a home. As a matter of fact, paint would be the first on my checklist of things to do prior to marketing a home. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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relocatingAmericans are mobile by nature so it should come as no surprise that relocation is a major reason for buying or selling a home.

Deciding to pick up and move to a new city can be a great opportunity to increase your standard of living for the entire family for years to come, but there are also pitfalls.

Failure to properly consider the full cost of relocation can turn a joyful event into pure stress.

Learn how to calculate the full cost of relocation with these quick tips.

Cost of Living

If you currently reside in a high cost area of the nation like D.C. or New   York City, then most places will seem more affordable.

On the other hand, moving from a relatively rural area to a major city can result in daunting increases for housing, taxes, and even insurance.

Commute and Convenience

Urban warriors relocating to small town life are often giddy at the prospect of saving a bundle on mortgage and insurance.

Before you get too excited, take time to calculate the cost of the new commute and convenience. While it is true that small town living has its advantages, expect to invest more time and money in gasoline, groceries, and other routines.

Cleaning, Clearing and Leaving

Do not forget the cost of moving itself. Whether you rent a truck and do it yourself, or pay to have everything handled professionally, relocation is expensive.

Include moving fees, cleaning, utilities, insurance, down payments, and lost wages, just to name a few of the anticipated expenses.

Taxes

One frequently overlooked expense involves potential taxes. Be sure to calculate the cost of any taxes that may be due on the profit of the home if you have not owned it for at least five years. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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good neighborhoods September 2013Location, location, location — goes the saying about what’s important in real estate. Today’s homes are being scooped up quickly, regardless of location. The difference being, homes in good locations are getting top dollar. Most buyers will always look at location first and condition second.

Most home buyers start by looking for a suitable area. The following tips will help you find a neighborhood that feels like home.

Priorities

Set priorities about things that matter most to you and your family:

  • Is safety a prime concern?
  • Are you looking for vibrant nightlife?
  • Do you need to live close to work?

The best purchase is usually a trade-off among several desirable elements.

Factors

These factors will help to illuminate a neighborhood’s style:

  • Are there good local schools? Whether or not you have children, good schools increase property values.
  • Is the area close to services such as hospitals, public transportation, shopping, parks, and recreational and cultural sites?
  • How safe is it? Check with local police, and look in the newspaper for crime-watch statistics.
  • Are people outside their homes, working in their yards or walking their dogs? Neighbors who interact with one another create a safer and more pleasant environment.
  • Is the area popular? Ask your Realtor, and check the number of “for sale” and “sold” signs.
  • What is the neighborhood’s price range? Have average property values gone up, gone down or stayed the same? Areas about to become trendy are often found on the fringes of highly desirable locations.

Is there vacant space nearby? What kind of development is planned for it?

Guidance

Real estate agents are a valuable source of inside information about how to distinguish two neighborhoods that seem alike. Contact me for the latest information about neighborhoods. Please visit my website www.JohnnybrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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messy closetsOne of the things that can make our homes less enjoyable to live in is disorganized closet space. It’s quite depressing to look in your closets every morning and not be able to find what you need.

And if you are selling your house, having a cluttered closet will damage your chances of getting the best price, because people will view cluttered closets as a sign your house doesn’t have enough storage. So here are some tips to organize your closets.

Invest in a closet organizer

Imagine how you (and potential buyers) would feel to see your closets tidily organized! A closet organizer is probably the best way to achieve the look you are going for — and it doesn’t have to be expensive either.

You can buy ready-made units that fit into most closets. Most use a modular system that allows you to mix and match units and fit them together as you wish.

You can choose between units made of solid panels or wire systems. Alternatively, you can mix and match them both to meet your needs.

Closet organizers should include shelves for bulky items such as sweaters, drawers for smaller items, and rods for clothing that needs to be hung up. Consider also storage for shoes, such as a rack that hangs on the back of a door.

Getting it organized

When designing your system, make sure you consider things such as the length of the clothes that are to be hung, and how much space you need to devote to items such as sweaters. Consider which items you need to access easily on a daily basis and which can be stored out of reach.

This is also a good opportunity to go through all the items in your closet and get rid of those you don’t need — perhaps some things you didn’t even know you had!

A closet that isn’t packed with useless stuff is easier to keep organized and will keep your clothes from getting crushed. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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housing-market-recoveryWill the housing market continue to flourish with the increase in mortgage rates? That’s a question only time will tell. Up to this point, the market has held up well. Even as interest rates crept above 4 %, home buyers were still clamoring for a home. The limited inventory had a play in this buying frenzy. Home buyers have been more inclined to pursue a home before rates and prices move higher.

The era of exceptionally affordable housing is fading in many parts of California with the simultaneous uptick in mortgage rates and home prices. At the bottom of the housing downturn, most markets were more affordable than historical averages. But home prices have risen rapidly in most communities as the housing recovery has taken hold.

Prices in Davis were 10% higher in June than a year ago. Larger markets like Los Angeles and San Francisco were up 21% compared to 2012 numbers. The national average was up 12% in 2013. Low interest rates have been a big driver of affordability. Will these increases in rates slow the buying bonanza and flatten home prices?

Interest rates are currently standing at 4.59% for a 30 year fixed mortgage. This is up from last weeks rate of 4.52%. Home prices are up over 10% through the 15th of August, compared to the same time last year. Here’s a look at the last three years of sales activity for Davis.
           # Sold     Avg price     Price per sq ft     Avg size     Days on market
2013-  337         $506,914      $283                  1,812 sq ft      37
2012-  319         $445,018      $254                  1,752 sq ft      71
2011-  250         $481,445      $264                  1,833 sq ft      80
More homes sold through the first six months this year than in the two years prior. They also sold at a much quicker pace this year. Outside of the specific numbers, this would be a good comparison for the rest of California. Bottom Line: With housing affordability close to historic high levels, we can expect ongoing increases in home sales this year, since buying a home at today’s prices, financed with today’s still low-interest rates, can be the “deal of a lifetime,” especially for first-time home buyers. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs, join my professional networks on LinkedIn and Twitter and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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buyers-sellers_street_sign_575Even though home buyers are purchasing homes at a brisk pace this year, there are still some concerns for the prospects that have not yet bought. The biggest challenge for many are just getting a foot in the door, no pun intended. There are more families making offers and missing out, than buyers actually purchasing homes. That’s the quagmire and our number one concern for tomorrow’s home buyer.

Lack Of Inventory: The main culprit for the complete turnaround of the market. Supply and demand now back in favor of the seller. If inventory were more abundant, there would be more options for buyers and fewer multiple offers on homes. The lack of inventory has started the tidal wave that we are now experiencing. The lack of inventory will more than likely continue through the end of the year with many homeowners holding out longer before selling.

Home Prices On The Rise: Those homeowners that are delaying selling their property understand the cycle has turned and prices are heading up. Buyers are under a time crunch and also realize that prices will escalate in the immediate future. The domino effect of low inventory and high demand has increased home prices by double digits in most cities and towns throughout California and the nation. If home prices continue this trajectory, some buyers will be priced out of the most desired communities such as Davis, California.

Increase In Mortgage Rates: Lost opportunities in recent bidding wars have cost those prospects dearly in higher mortgage rates. If a buyer bought a home at the start of the year, rates were below 4% and home prices has not picked up to the current level. The unfortunate circumstances of losing a home to a higher bid, combined with the rise in rates and prices are a trifecta that has created much angst and sleepless nights for consumers.

All Cash Investors: Investors are back with a fury. That’s when you know real estate is rocking and rolling. Investors are opportunist and have taken advantage of buying properties with all cash offers. In many parts of Sacramento and other affordable areas, investors are buying the bulk of the inventory, which leaves little chance for the first time buyer. Even though buying a home has gotten tougher, it’s still a great time to buy. There are strategies that can put a buyer in an excellent position, even when competing against those all cash investors. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home and easy access to view local area homes for sale in Davis, California and the surrounding communities.

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