Thursday, January 30, 2014

Uncommon Tactics to Sell Your Home

If you’ve been waiting to sell your home, the housing market is finally picking up. Now is the time to take action. But keep in mind that there is no guarantee on how fast your home will sell once you list it.

To improve their chances of a quick sale, some homeowners are trying uncommon tactics to draw attention to their listings. The key is to make your home listing different than the others on the market, so it stands out. Here are a few things that other sellers have tried that helped them get a quick sale. They may work for you, too.

One thing that has always drawn attention is to offer incentives to buyers. Today’s market is no exception. Some popular incentives include offering to pay some of the buyer’s closing costs, including a home warranty that protects appliances, or even offering buyers plane tickets, a big screen TV, or new car.

Another way to attract notice is to offer to seller financing. In these days of tight credit, not every potential buyer can qualify for a traditional mortgage. By offering financing, you could attract attention from a larger pool of buyers and sell your home.

Interesting photos of your home can improve your online marketing. Buyers get tired of seeing nearly identical photos as they look at online listings. Make yours stand out from the rest with bright floral arrangements or an unusual piece of furniture.

In some areas, sellers are even offering buyers a chance to try out the home. Make sure you consult with your realtor before you consider this! What happens is you give potential buyers the opportunity to spend a night or two in your home. This allows them to notice how quiet the street is, and how lovely the light is first thing in the morning in the breakfast nook.

These are just a few uncommon ways to attract attention to your listing. Discuss your ideas with your realtor and decide if any will be right for selling your home.

Are you looking to market your home for a quick sale? Contact me to set up an appointment to preview your home. I’d be happy to discuss a marketing plan to help you sell your home quickly.

Patty Ross
831-236-4513
pattyre@comcast.net
www.pattyrosscarmel.com

Click here to listen to Patty discuss the latest trends in Northern California Real Estate including the communities of Carmel, Carmel by the Sea, Carmel Valley, Marina, Monterey, Pacific Grove, Pebble Beach and Seaside 


Photo courtesy Oliver Delgado, Stock.XCHNG.

Thursday, January 23, 2014

15 or 30 Years - Which Mortgage is Right for You?

Your home is one of the biggest purchases you’ll ever make. If you’re like most people, you’ll need a mortgage to buy it.

These days, there are a lot of different mortgage loans available. Should you get a traditional 30 year loan, or a faster 15 year mortgage? It turns out that both options have pros and cons. Before you make a decision, take a look at these points:

A 30 year mortgage offers flexibility. Your monthly payments are lower, because they are spread out over more time. If you become ill, lose your job, or have some other financial trouble, you are less likely to get into trouble with your mortgage. If you want to pay off your mortgage early, you can choose to pay extra each month toward your loan principal.

However, a 30 year mortgage carries a higher interest rate. That’s because the bank is taking a longer risk with you. So even if you do pay off your mortgage early, you will still be paying more in interest.

A 15 year mortgage will save you money with a lower interest rate. Borrowing money for a shorter time at a lower rate will save you thousands of dollars in interest payments over the life of the loan.

15 year mortgages also force you to pay off your loan earlier. If you can afford the higher monthly payments but don’t have the self-discipline to make extra payments yourself, this might be the right option for you.

However, the downside to a 15 year mortgage is the lack of flexibility. If you do run into financial trouble in the future, you can’t just pay less and turn it into a 30 year mortgage.

How do you decide which mortgage is right for you? Get preapproved for a mortgage before you start shopping for a home, and talk to your loan officer. Find out what the payments will be, and see how they fit into your budget. When you’re ready to shop for a house, contact me for an appointment. I look forward to helping you find your dream home!

Patty Ross 
831-236-4513 
pattyre@comcast.net
www.pattyrosscarmel.com


Click here to listen to Patty discuss the latest trends in Northern California Real Estate including the communities of Carmel, Carmel by the Sea, Carmel Valley, Marina, Monterey, Pacific Grove, Pebble Beach and Seaside
 


Photo courtesy Fernando Mengoni, Stock.XCHNG.

Thursday, January 16, 2014

How to Buy a Home in Any Market

Every day it seems that something happens to affect the real estate market. Mortgage interest rates are currently low, but they are on the rise. Home prices are going up in many areas. Inventories of homes for sale are low, so available properties are scarce.

Consumers may not know how to buy a home under today’s conditions. Fortunately, best practices don’t change. Whether it’s a buyer’s market, seller’s market, or something in between, these tips will help you buy a home in any market.

  • Don’t to get too emotional about the process of buying a home. It’s easy to lose your cool if the property you love is sold before you get a chance to look at it, or if someone outbids you for your dream house. Remember that there are always more properties out there, and that you will find one that is right for you.
  • Don’t try to time the market. Purchasing a home is a long-term investment. You are going to live in this house for several years. Don’t rush to buy because you think prices are going up, or put off buying because you think prices are falling.
  • Do make your best offer. A lowball offer on a property simply wastes the seller’s time, and your own. If you are serious about buying the house, put your best foot forward and make an offer that reflects the value of the home and the neighborhood.
  • Do work with a good Realtor®. A knowledgeable real estate professional can help you get a good house at a fair price, instead of overpaying for a home you don’t like, or not finding a property at all. Your Realtor® knows the market and can help you find the best options in your price range. They’ll also help you structure your offer to make it attractive to the seller.

In this real estate market, home buyers could use a helping hand. Contact me today for an appointment to discuss the property you’re looking for. I can guide you through the buying process and help you end up with your dream home.

Patty Ross 
831-236-4513 
pattyre@comcast.net
www.pattyrosscarmel.com


Click here to listen to Patty discuss the latest trends in Northern California Real Estate including the communities of Carmel, Carmel by the Sea, Carmel Valley, Marina, Monterey, Pacific Grove, Pebble Beach and Seaside


Photo courtesy Michelle Meiklejohn, FreeDigitalPhotos.net.

Thursday, January 9, 2014

How to Price Your Home to Sell

One of the biggest worries about selling your home is wondering if you priced it right. How do you know what to ask for your home so you can get a fair price and sell it quickly? Here are some tips on pricing your home to sell.

Look at the comps, which are the similar homes in your neighborhood that have sold recently. This will give you an idea where to start pricing. You can also visit any houses that are currently for sale, to see how they compare to yours.

Don’t rely strictly on square footage when you look at comps. You need to know details about how the home is laid out, what features are inside, and any upgrades to get an accurate idea of price.

In most cases, the person who buys your home is going to have a mortgage. That means that your home’s appraised value must be at least the sales price. Keep this in mind when you are setting your price, so you don’t price your home too high. If the appraisal comes in lower than the sales price, the buyer won’t be able to get a loan for that amount.

Your emotions need to stay out of the pricing process. The price of your home shouldn’t include how much you paid for the house, how much you enjoyed living there, or the fact that your kids grew up there. You’ll need to base your price strictly on what your house is worth today in your neighborhood.

Don’t overprice your home. Unless you are in a really hot market with very low inventory, you will just end up lowering the price on your house, which will send a signal to buyers that it was overpriced. Likewise, pricing your home under market value to encourage multiple bids can backfire, if there is a lot of inventory or homes are not selling fast in your area.

The most important step in pricing your home is to talk to your Realtor®. A qualified real estate professional knows what’s going on in your neighborhood and can advise you on the best pricing strategy for your home.

Are you ready to sell your home? If so, contact me today. I’ll give you a market analysis to determine the value your home, so you can be sure to price it right for the local market.

Patty Ross 
831-236-4513 
pattyre@comcast.net
www.pattyrosscarmel.com


Click here to listen to Patty discuss the latest trends in Northern California Real Estate including the communities of Carmel, Carmel by the Sea, Carmel Valley, Marina, Monterey, Pacific Grove, Pebble Beach and Seaside


Photo courtesy ponsulak, FreeDigitalPhotos.net.

Friday, January 3, 2014

New Year, New Beginnings..Is It the Right Time to Downsize Your Home?

In 2010, the average size of a new home was 2,169 square feet. That’s over a 1000 square foot increase in the last 30 years. A large home can be nice, especially when you’re raising a family. However, if your kids are now grown or you’re just tired of cleaning and maintaining all that space, you may be thinking about downsizing to a smaller home.

But selling your home and buying a smaller one is a big commitment. To be sure that you are ready to move to a smaller place and before putting your home on the market or shopping for one, take an earnest look at your reasons for making this change.

You may have rooms you never use. Do you find yourself wondering why you even have a formal dining room, or when you’ll ever use that fourth bedroom again? Your home should suit your lifestyle. So, if your formal dinner party days are over and your current home no longer makes sense, it might be time to downsize.

Upkeep on a larger home is time consuming.  Extra rooms and a large yard need regular cleaning and maintenance.  Significant dollars spent on hiring help for extensive landscape and lawn care, systems inspections and other maintenance or repairs can be a cash drain for spaces rarely used.

Your family and friends may have already moved out of your neighborhood and into smaller homes or city condos. When the people you care about and socialize with have moved on with their lives, it may be time for you to move on, too.

Accessibility will eventually become an issue. That second floor master suite may no longer be optimal and a smaller, one-story home, designed for easy access, could be exactly what you need for prolonged independence.  That being said, statistics say that people who have stairs in their home live an average of 7 years longer than people who don’t!  Just sayin.

Fortunately, if you are ready to downsize, now is a great time to do it. Home prices are affordable, and mortgage interest rates are at historical lows. If your downsize time has arrived and you’re ready for a new chapter of life in a new home, contact me at any time and we can discuss how I can help you to make that transition more easily. 

Whether you're an empty nester moving from a house into a condo, or a renter trading in a two-bedroom for a studio, you'll have to say sayonara to some of your stuff. Stressed out by the prospect? Don't be.  Here are some downsizing dos…


1.      Write a list of all the items you love and can't live without; it will help you bid adieu to things that didn't make the list. It's hard to persuade people they can't take everything with them. But by keeping what's on your wish list, you won't be upset about the things you can't keep.

2.      Start thinning out your belongings at least three months before the move. Take some time each day, or one morning each week, to go through that jammed coat closet or overflowing filing cabinet. Paper is the real killer, so tackle it one box at a time. The same goes for photos, which require a lot of attention.

3.      Get a feel for the size of your new rooms by comparing them to rooms of similar dimensions in your present home. For instance, your living-room-to-be might be roughly the same size as your current bedroom. You may think you can squeeze in two sofas, but this kind of reality check could help you realize that only one will fit comfortably.

4.      Heavily edit areas with items that don't have as much sentimental value. Take the kitchen, for example; most people don't need 10 mixing bowls and won't get teary-eyed over losing a second spatula. If you're downsizing from a house to a condo, target the garage. Snow shovels, the lawn mower, ladders - you won't need any of them.

5.      Don't throw anything in the garbage. Recycle, reuse, sell and donate instead. As tempting and easy as it is to pitch wire hangers, musty clothes and shabby furnishings, be environmentally responsible and find a home for everything. A can of Comet with a few shakes of powder left could make someone else's sink sparkle if you don't want it; consider giving supplies to a shelter, neighbor or cleaning lady.

6.      Label three bins To Keep, To Sell, and Charity (bins should be manageable when full). For the average downsize, keep only one-third to one-half of your belongings.

7.      Get an objective opinion. If you can't decide whether to keep or kiss that dusty '70s-era sewing machine goodbye, it's good to have someone who'll say, ‘Oh, please, you never use that!' It might just be the kick you need.

8.      When selling your goods, try an auction for high-end items. Then look for reputable antique and secondhand dealers. Often, they can buy all of your wares or put you in touch with booksellers and other specialty dealers. Some dealers will come to your home, take what you don't want and even drop off the charity stuff, that way you won't be trudging all over town. If you can't sell an item, donate it to a shelter.

9.      Use floor plans to prearrange your furniture before the move. This is another useful reality check. To start, draw plans if you don't have any, and sketch in a furniture layout. Then look at the plans realistically; if you've crammed in side tables, armoires and chairs, you need to edit more. Don't wait until after you move to contend with furniture you'll just end up tripping over.

10.    Once you get to the packing stage, use a color-coded system to organize all of your boxes. Choose a color for each room and mark the boxes destined for that room with a coordinating color sticker. You can also do the same thing numerically; for example, if room No. 1 is the kitchen, then all boxes marked No. 1 will go there. A simple and efficient organizing idea to make the move that much easier!


52 LA PLAYA STREET, Monterey 93940




Class:
Townhouse/Condo (Comm Int Dev)
List Date:
08/29/2013
Beds:
2
List Price:
$1,050,000
Baths:
3 (2/1)
Sale Price:

SqFt:
1,250 (Seller (Unverified))
HOA Fee:
$415.00
Lot Size:
(Seller (Unverified)) (Seller (Unverified))
X-street:
Del Monte Blvd.
Elem Dist:
Monterey Peninsula Unified


High Dist:
Monterey Peninsula Unified







List Office:
Sotheby's Int'l Realty-Rancho









Direction:
Del Monte Blvd by Monterey Wharf




Remarks:
Wake up to the sounds of waves and Bay views only 55 steps from the beach. This lovely 2 bedroom 2.5 bath unit was remodeled with granite counter tops, hand made copper sinks, steam shower & many more! Loft could be converted to the 3rd bedroom. Pool, gated community







1441 MANOR PLACE, Monterey 93940




Class:
Single Family Residential
List Date:
11/04/2013
Beds:
3
List Price:
$865,000
Baths:
2 (2/0)
Sale Price:

SqFt:
1,748 (Assessor)
HOA Fee:

Lot Size:
14,958 Sqft (Assessor)
X-street:
Manor Road
Elem Dist:
Monterey Peninsula Unified


High Dist:
Monterey Peninsula Unified







List Office:
Sotheby's Int'l Realty-Rancho









Direction:
From Highway One going South, take Aguajito exit. Turn right on Aguajito. Turn Left on Sylvan Rd. Turn right on Manor Rd. Take first right on Manor Place. House is on Left.




Remarks:
Nestled in a quiet cul-de-sac in one of Monterey's sunbelt-sought after neighborhoods, this single level post adobe home exudes a comfortable lifestyle. Wide-plank Hickory flooring, vaulted ceilings, Pella windows. Mature oak, pine, redwood, and lush landscaping, create a park-like setting. Street-to-street lot. Detached artist/office studio in the back yard, large hot tub, children's play area.

Patty Ross 
831-236-4513 
pattyre@comcast.net
www.pattyrosscarmel.com


Click here to listen to Patty discuss the latest trends in Northern California Real Estate including the communities of Carmel, Carmel by the Sea, Carmel Valley, Marina, Monterey, Pacific Grove, Pebble Beach and Seaside