Friday, November 30, 2018

Home Sales Activity ~ November 30th 2018

I'm working on a Client Appreciation Event for February but still keeping you informed on housing activity in our sweet Santa Clarita Valley!

In case you haven't been reading my blogs, I include Acton, Agua Dulce, Canyon Country, Saugus, Valencia, Newhall, Stevenson Ranch, Castaic, & Val Verde.

At this second, we have 687 active listings. That's the number of homes available for sale. Houses, condos, townhouses.

Currently we have 359 in escrow. Sold in the last 30 days was 275.

Seasonal, interest rates, rising prices? Mostly seasonal effects on inventory right at this moment. But, we've still got people Selling & Buying!

Although, most of my associates & affiliates are telling me it's like crickets out there!

I'm looking forward to putting up holiday decorations, going to boutiques, tonight Descanso Gardens, and being with family.

I'm okay that I don't have anything in escrow right now. 2019 is going to rock!!!

Friday, November 23, 2018

Thankful For Sweat Equity Down Payment Program With Freddie Mac

Quite honestly I had never heard of this program. I have utilized the FHA203k program, which allows the homeowner to borrow to purchase a home based upon what it will be worth after work is completed....after closing escrow.

This one is where people can do the work, prior to closing escrow. And then, the value that their 'sweat equity' brings to the property can then be considered part of their actual down payment!

Wowza! Yes, I do love that word.

(See, even Mark Cuban from Shark Tank likes Sweat Equity!)

At any rate, here is a copy & paste from the article that brought it to my attention about some of the guidelines:

Here’s more on how the program works, from Freddie Mac:
  • Sweat equity to be used for the entire amount of down payment and closing costs with maximum 97% LTV/105% total LTV (affordable seconds).
  • Sweat equity for manufactured homes up to a maximum LTV ratio of 95%.
  • Sweat equity as an eligible source of funds for:
    • All repairs and improvements to be completed by the borrower that are listed in the sales contract and included in the appraisal report.
    • Repairs or improvements that are reflected on the appraisal report that are outstanding at the time of the appraisal.
    • Credit for work completed prior to the original property inspection by the appraiser is not eligible for sweat equity.
I think we should all contact our favorite lenders and ask about this. 
Well, people that actually can do the work sure should!

Friday, November 16, 2018

Any of My Gal-Pals Wanting a 'She-Shed'??

I have a couple that we've been talking about selling their home on & off for 4 years now. They actually do have a 'she-shed'. Well, the husband may not call it that!

But, it's a great little detached building with no bathroom. I see it as super for guests, man-cave, work-out room, office, and....yes....the newest named craze....a She-Shed!

If I had that much room, and lots of young children still running around, I'd want a She-Shed too! It's a great escape from the clutter of the house. Stepping in the full-on female softness and quiet of an all girly shed would be sweet.

I'd need a small fridge, a heater & A/C, plus I'd need a little bath so that I wouldn't have to go inside the main house for long periods of time! LOL

That's pretty darn cute....but looks too much like an outhouse for my taste!

I don't want a ladder in my She-Shed, but love the crispness of this one!

My absolute fave. Love the total girlishness, 
but I'd want glass covers over that beamed roof so I could be out there in the rain.

Sweet, kinda cabinesque!

Tuesday, November 13, 2018

Amazon Didn't Pick My Home Town For HQ2 ~ Is That Good Or Bad?

As a matter of fact, they didn't come anywhere close to California! Let alone Los Angeles or my sweet Santa Clarita Valley.

Amazon’s HQ2 is expected to bring 50,000 jobs with an average salary of $100,000 over the next 15 years, plus more than $5 billion in investment over the span of 17 years.....and some are already complaining about what it will do to housing and infrastructure in those communities that were the winning bids.

Because, it did have quite the effect on Seattle. Home prices rose at a significantly higher rate within 5 miles of HQ1 vs. further away communities.

Well, no kidding. 

When location, location, location is what it's all about, and, all of a sudden your location becomes more desirable....prices will go up more so than other neighborhoods.

Infrastructure? Here's to hoping there are some new schools, roads, shopping, and restaurants are planned around HQ2. Without that, those communities that are on the sidelines will likely be hurt.

Thoughts? I'd love some opinions on this one & if you live near me....did you want HQ2 here?

Friday, November 9, 2018

It's a Love/Hate Relationship For Sure!

Preface this to say I hide nothing from my clients! I want them to see everything I see. I want them to be informed.

And, I don't want them to be misinformed ..... ever.

Realtors have long had a love/hate relationship with Zillow. The Zestimates were so horribly wrong for so long. (misinformation) Those are better. They contact us over & over again to buy 'Premier' status spots. Yes people, those are paid for. They started Zillow Instant Offers.....I don't care. But, now? They have spent 65 million dollars to get into the mortgage business...yes, you read that right....SIXTY-FIVE MILLION.

So, the tell-tale test will be to see if mortgage lenders will still pay to advertise on their site for leads.

See, Zillow doesn't do this for free. They 'borrow' all of our information from the local MLS's. They pile that into their site, then they work on Realtors & Lenders to get placed in higher positions for lead generation by paying Zillow.

Yes, of course, you knew that right?

Really not sure how the lenders will take this. Instant offers doesn't really affect Realtors the way this mortgage business will.

Question now? How much more than the 65 million will it cost Zillow if Realtors & Lenders finally say....Enough....I'm done with the big Z and not paying for leads anymore....

Time will tell...... For my peeps? I always say feel free to play on Zillow, do your actual searching on though...that's where the real homes for sale are.

Monday, November 5, 2018

I Sent That Two Years Ago.....

Sometimes it feels like that in Real Estate....well, at least for me.

Unashamedly I am a bit OCD. When I send someone an e-mail or a text, I expect a timely response. In everything related to Business. Leave a voice message.....same. Personal stuff can be longer of course.

I messaged an agent just before 7 am today. Zero response. Messaged her again about 3 hours later, got an immediate partial response so I immediately responded with more of my original questions. Four hours later, I'm still waiting for her reply. So, I messaged her again......and I'm waiting yet again.

It's a good thing I didn't hold my breath waiting, right?

Another agent I'm working with? My assistant and I have requested return of our documents 3 times now. Once mid last week, again this morning by both of us. Me, just another message since we didn't get any response from any of the other messages.

(Sheesh, it feels like this all too often!!)

I've missed a message or two when I'm in my car and/or wearing my fit-bit thingy. I look at my list of texts pretty regularly during the day just to double check. I check my e-mails all day long. I re-fresh my voicemail to make sure nothing got stuck in voice mail hell.

We all get busy....but as a professional, selling someones most valuable asset? We need to be more diligent.

No one is that busy.....and, as I've said before, if you are....get an assistant.

Off that soap box now.

Friday, November 2, 2018

Thinking About Moving Up, or Down, But Not Quite Sure How It Works?

For the last few years, it's been a bit challenging to move for many people.

Tons moving out of California, so they usually go temporary somewhere for a bit. Figure out exactly where they want to be, then purchase in the new state after they determine the right location.

For many here in our sweet little Santa Clarita Valley, and all of Southern California, with the low inventory we've had for years...compounded with low seller's been a challenge to move for many.

However.....this is about to be the time!

When inventory is too tight, many prospective buyers don't want to wait for you to find your replacement property. They shy away from that seller contingency. For sellers, they are reluctant to put their home on the market until they had found a house they want to move into. And, for even more sellers.....they really didn't want to take an offer from a buyer that was a seller on another property. Oh, and don't forget a lot of sellers didn't have much equity to financially be able to consider a move!

All of that make sense?

At this time though....inventory is growing. The opportunity to make a smooth transition from your old home to your new home will definitely be getting easier. More for you to look at for sure, which means buyers that love your home know you'll find a replacement property easier.

One caveat? There aren't quite as many buyers out right now, but they'll be back. And, any that are out right now? Those are the ones you want. They are not the lookie-loos if they are house hunting in this chillier season. These are the people that want to buy. We LOVE these buyers.

Questions about how selling and buying at the same time works? Just holler....I'm a wealth of experience & information, happy to share.