Friday, October 7, 2016

Housing Market and The Winter Holidays

Just focused on Santa Clarita Valley and our surrounding communities in this post.

We've fallen below 700 active listings again. I checked yesterday and our total was at 677.

Prompted a thought to chat about this morning.

We didn't have an increase by the feds in September for home loan rates. Next meeting is in December, who knows what will happen.

What I do know is that buyers that are looking this last few months of the year are SERIOUS buyers. They aren't any type of lookie-loo, they are ready to buy now.

What I also know is that the new year will bring more listings on the market. Right? You all know this.

So, point of this blog post?

If you're thinking about selling in the next 6 - 12 months, consider listing now. You know the inventory is still low. You know that interest rates are still low. You know that serious buyers are out there. You know, right now, what your competition is.

Take a taste of the Winter 'snow', open your arms/homes to buyers, 
and let's get you moving!

Tuesday, October 4, 2016

Trended Credit Data Now A Reality

There's this awesome lender thing called a DU, or Desktop Underwriter for loans that are going Fannie Mae.

It tells lenders if their borrowers are good candidates for the loan program and if given to Realtors at offer presentation, we feel much more confident that a buyer can truly close on a loan to buy our Sellers home.

Nice news is that the latest DU release is allowing the use of Trended Credit Data now.

This is the mini-skinny on it:

Use of trended credit data in credit risk assessment
  • Considers the monthly payment amounts that a consumer has made on revolving accounts, such as credit cards, over the past two years
  • Offers lenders more insight into how a borrower tends to pay off their revolving credit lines each month, providing a more comprehensive risk assessment
  • Gives borrowers greater ability to control their credit evaluation, and benefits borrowers who regularly pay off, or pay more than the minimum required amount, of their revolving debt, increasing the likelihood that they will receive an “Approve” recommendation from DU

So, sounds like it's a good idea to make larger than just the minimum payments on your Credit Cards people! Happy to report that the DU is creating a more human-like experience.

Friday, September 30, 2016

Airbnb.....How Does This Relate to Home Sales?

I read an article this week that said it would affect the housing industry. Yes for rentals, no I don't think so for purchase & sales.

The Airbnb is a rental set-up for anyone that wants to rent to strangers. For a night, a weekend, a month, even just a room in their home.

The Internet has certainly changed the housing industry. Allowing buyers and sellers to see things much more easily. Neighborhoods, taxes, ownership, all sorts of good things. I like this.

But, as always, the Internet doesn't replace the Realtor. And, that my friend, is priceless. Well, I think I am.....priceless that is.

At any rate, will the way Airbnb change the way people rent? Sure, possibly. Until there is some scandal. Will it change the way people buy? No.

We've had FSBO's forever. For Sale By Owner. The percentage of people that try and go it alone is so minimal it's not even worth talking about.

But, a rental is much less valuable than a home for sale. A rental you're talking about a couple thousand. A sale is, obviously, significantly higher in value.

So, Airbnb, have at it with the rental market. Don't even worry a second that it will be part of the resale market!

Tuesday, September 27, 2016

There Are Always Changes in a Transaction

Always. Just be prepared for it. Well, you can hardly be totally prepared, but know that there will very rarely be a transaction that doesn't have some type of glitch. Or need some type of 'adjustment'.

And, that's when we appreciate that all teams are going for the same goal.

 To get the property closed.

For the buyer to move into their new home & the seller to run off with their check! Frequently the goal doesn't get to easily.

Got one right now. Requires the sale of 2 homes and the purchase of another. One of the sale properties is about to close escrow. Yippee! That was the easiest of the 3 and the agent was slow at returning everything! Well, and our change on that one is just closing late. The purchase is the longest escrow, anticipated to be about 3 months and we'll be just about a week over on that one.

Now, the purchase one accepted our offer as a contingent upon 2 home sales by my buyer. The purchase one did not indicate they were contingent upon buying another property but we have found out that they definitely are purchasing after the sale of their current home.

Property 2 sale escrow is going along fabulous!

And now, comes the 'work through' of everybody closing, 3 lenders getting stuff done. 3 agents getting stuff done, 3 sellers getting stuff done, 3 buyers getting stuff done.

And, each wants their needs put first. Right?

So, I've talked with one lender, and 2 agents. Got a message out for another lender and another agent. All to juggle the closing as smoothly as possible. They have to communicate with their respective clients as well. We have to be aware of loan locks, movers, everyones' schedule!

Wish me luck!!! More coordinating to complete!

Friday, September 23, 2016

Bathroom Sink Vanity A Bit Boring? How About These?

Anyone who reads my Blog, knows I love some stuff that comes down from Houzz!

Today I was reading about different pieces that can be turned into a bathroom vanity. And, from reading and perusing can pretty much turn anything into a vanity. Just use some imagination.

Keep in mind....going a wee bit crazy, or different with your choices, may not be so great for resale. But, enjoy some of these and let me know what you think!

I have a dresser in my bedroom that matches this one!

For people with grandmothers sewing machine!

An old student desk?

I guess I could re-purpose my file cabinet here!

Tuesday, September 20, 2016

Reconsider Earthquake Insurance

I had earthquake insurance for the '94 Northridge quake. I didn't use it, my deductible at the time was about 35k and I had less than 10k in damage. FEMA assisted us with that. Lots of paperwork, but they were very helpful.

One of the reasons I've never purchase the insurance again was the high cost to carry it and the high deductible if something were to happen.

California Earthquake Authority has just cut the price of the insurance. They are offering several options customized to your financial comfort zones. Your normal homeowners policy does not cover quake damage, and boy, are we overdue for one, right?

So, take a gander at their website again, California Earthquake Authority
Talk to your insurance broker as well of course. 
But, this may be something to look into!

Friday, September 16, 2016

Funny How Stuff Changes!

This is just a spew of my thoughts today.

I reach out to my data base, some call it a sphere of influence, every week day. To check in, to say hello, to see how the family is doing, all kinds of things. These are past clients, friends, people I love and adore as well. I love all my peeps, well, almost all of them!

I let them know about new listings, buyers needs, what's happening in my world too!

And, it's weird how it works. I could be working with a bunch of buyers at any given moment. During my contacting of my pals, I'll ask them if they know any Sellers to help my buyers? And, on the flip side, if I'm working with mostly Sellers, I'll ask them if they know anyone looking to buy a home.

Now, this is the weirdest part.......

I could be talking to the A - G section, say mentioning that I am looking for Sellers, right? Someone I know with a last name that starts with R, let's say, out of the blue tells me they want to sell their home. See? I know strange.

So, now? I am on the lookout for buyers! I've got 6 Sellers that I'm working with, but zero Buyers. Totally crazy for me. Usually it's pretty darn 50/50 after all these 14 + years!

Soooooo, if you know anyone considering a home purchase....feel free to give them my info. I'll help in any way I can to get them the home of their dreams.

Yep, that's representing me 'Looking for Buyers'!

Lauren Lefkowitz Greber
Realty Executives Valencia
(661) 313-5470