"What's Your Marketing Plan?" - AKA, Real Estate Story of the Week

One of my lender pals and a past client referred a prospective Seller to me this week. The seller was a retired Realtor that lives in another state. Hasn't sold homes in over a decade. But, has certainly been watching the market.

Seller definitely knew that the market has been at top, on-fire levels, for the last month compared to the beginning of the year. ON FIRE!

So, I toured the home. Still needed to clean out a lot of stuff....a lot....I mean, like really, more than a little. And, Seller was admittedly tired already so I wasn't sure how fast it could be done. With the market changing so dramatically in the last few months, that could mean a significant difference in equity if it was ready later than sooner. 

On to more of the story. We chatted for a bit in the living room. Talked about where I thought it should be priced. Talked about what I felt they needed to do. Talked about the fact that I'm a no BS agent and will always tell the truth. Talked about fees. 

I said 'since your're a realtor, what do you want to ask me?'.  Seller, very calmly asked "What's Your Marketing Plan". Thankfully I didn't have any liquid in my mouth or I would have likely spit it out laughing. 

Right now, just about zero marketing plan could sell a home! But, I proceeded to inform the Seller about what I do for all of my listings, whether we are in this incredible Sellers market or not. My final statement was...and, it always is...."Price, Presentation, and Spread the Net as Far & Wide as Humanly Possible"

I followed up with the prospective Seller 36 hours later. Said that 3 agents were interviewed and I ended up in the # 2 spot. I asked if there was a particular reason. Seller felt that he blended with the other agents personality a bit better, that was the only reason. I said, good choice, as you're 'in bed' with your Realtor for a couple months so you best feel very comfortable with them. 

At any rate, the true moral of this story? Definitely wise to find an agent that you feel comfortable with is true. BUT, the best agent for the job may not always be the one that makes you feel warm & fuzzy. She may just be a solid truth teller and a tad OCD....like someone I know! LOLOLOL

What's Your Reason To Move This Year?

The Top Reasons People Are Moving This Year

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home.

According to Zillow:

“In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.” 

With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and making moves this year.

1. Working from Home

Remote work is becoming the new norm in 2020, and it’s continuing on longer than most initially expected. Many in the workforce today are discovering they don’t need to live close to the office anymore, and they can get more for their money if they move a little further outside the city limits. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR) notes:

“With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”

If you’ve tried to convert your guest room or your dining room into a home office with minimal success, it may be time to find a larger home. The reality is, your current house may not be optimally designed for this kind of space, making remote work and continued productivity very challenging.

2. Virtual Schooling

With school about to restart this fall, many districts are beginning the new academic year online. Education Week is tracking the reopening plans of schools across the country, and as of August 21, 21 of the 25 largest school districts are choosing remote learning as their back-to-school instructional model, affecting over 4.5 million students.

With a need for a dedicated learning space, it may be time to find a larger home to provide your children with the same kind of quiet room to focus on their schoolwork, just like you likely need for your office work.

3. A Home Gym

Staying healthy and active is a top priority for many Americans. With various levels of concern around the safety of returning to health clubs across the country, dreams of space for a home gym are growing stronger. The Home Builders Association of Greater New Orleans explains:

“For many in quarantine, a significant decrease in activity is more than a vanity issue – it's a mental health issue.”

Having room to maintain a healthy lifestyle at home – mentally and physically – may prompt you to consider a new place to live that includes space for at-home workouts.

4. Outdoor Space

Especially for those living in an apartment or a small townhouse, this is a new priority for many as well. Zillow also notes the benefits of being able to use yard space throughout the year:

“People want more space in their next home, and one way to get it is by turning part of the backyard into a functional room, ‘an outdoor space for play as well as entertaining or cooking.’”

You may, however, not have the extra square footage today to have these designated areas – indoor or out.

Moving May Be Your Best Option

If you’re clamoring for extra space to accommodate your family’s changing needs, making a move may be your best bet, especially while you can take advantage of today’s low mortgage rates. Low rates are making homes more affordable than they have been in years. According to Black Knight:

“Buying power for those shopping for a home is up 10% year over year, with home buyers able to afford nearly $32,000 more home than they could have 1 year ago while keeping their monthly payment the same.”

It’s a great time to get more home for your money, just when you need the extra space.

Bottom Line

People are moving for a variety of different reasons today, and many families’ needs have changed throughout the year. If you’ve been trying to decide if now is the time to buy a new home, let’s connect to discuss your needs. Email: Lauren@KeepYourWitz.com or Call/Text @ (661) 313-5470.

Price Changes in the MLS....Which Way Do They Go?

I do a lot of networking. Trying to find properties. Talking to everyone I know to help my clients. Right now, it's a huge focus on finding more Sellers. But, I'm sure you know that.

And, it appears to be this way nationwide. Yes, I network with agents in other states as well.

I look at our MLS several times a day. Starting at about 7:00 am, finish about 8 pm. And, many times in between depending on what's happening in my clients worlds.

This morning when I looked again at the category called Price Change, this is what I saw:

All of my search criteria is set for last 24 hours. So at any given moment, I'm seeing pretty accurate data. 16 price changes, 11 up, 1 no significant change, 4 down.

So, I decided to blog about it today. Yesterday I did a live video on FB & Insta telling buyers to not look at their top pre-approval $$ price. Start a little lower so that you can bid up, because of these kinds of things that I'm seeing.

I saw one that got bid up 55k over list price, but for the most part, they were about 2-3% higher than original list. Not horrible. And, lo & behold, there were some price reductions. 

If you overprice to begin with...and, your property isn't close to perfection...you still, even in this Sellers market, may have to do a price reduction to get your home sold.

Talk to a trusted professional that has been selling in your neighborhood for a looooooong time. TRUST them when they share the neighborhood sales data. TRUST them when they make a suggested list price.

Yep, we've been doing this a lot longer than you.....well, I sure have! Off to go show a new listing now!

I Don't Get Sad Often....But, Today I Am Sad....

I was introduced to a new buyer a few years ago and at that time he chose not to buy. We reconnected early this year and we've been looking for homes since pre-CoronaVirus.

And, if anyone has been following, the market has changed dramatically since the beginning of the year. In case you're wondering, total homes available (condos, town-homes, & houses) in all of Santa Clarita is at 276 just a moment ago. TWO-HUNDRED-SEVENTY-SIX. Such a bummer.

We've been focusing mostly in Valencia. He loves that 91354 zip code. He loves Creekside, Northbridge, Northpark. He loves views. He loves a well kept home. He loves minimal noise. And, he loves his elderly father that lives with him. A boy and his dad. Well, he's not a boy, but, you get my drift. It's just them. So, needless to say, we need a downstairs bed & bath, or a single story.

In a house hunt, buyers learn things about what they really want. What their true needs are. They learn what those 7 out of 10 things on their needs/wants list are the most important.

Sometimes it takes a bit longer, sometimes a damn pandemic hits. 

Yesterday, thinking so far outside his box of wants/needs, we went to another part of SCV. We looked at a home that had a lot of DIY done, was a single story, above the street, with a magnificent view. We both talked about how pretty it would be at night. Maybe put a tree where we could see the one neighbors roof. A little bit of noise from the closest freeway. But, a lot, I mean, a lot of DIY. And, anyone that has done that knows it's generally a wee bit better when you pay someone to do it as it's generally done much more accurately. Sorry you DIY'ers! Flooring had some un-level tiles. Vanity didn't sit flush with the wall. Master shower didn't have the right edge to avoid flooding into master bedroom. Removal of acoustic ceilings were done, but the re-texturing after was not great. Several more that I won't list.

As a Realtor of 18+ years, I totally recognize DIY items in a home.

So, we're out front of the home, glistening in the 105+ heat ....standing in the shade. And, I ask if he's 'feeling it'. We talk & we talk & we talk. I know my buyer....I'm pretty sure.....he's disappointed in the market too. Disappointed that he seems to be priced out of 91354, disappointed in the multiple offers. Disappointed in the supply. Disappointed in several things related to finding the right home for he and his father.

And, needless to say....that is why I am sad. Sad for this kid that loves his father so much. Sad that the damn market is so uneven. Sad that we can't find a 600k home that is nice, clean, maybe has a little view....600k he's got to spend.....600k.....and, we can't find it. 6-7 months ago we could, but we didn't know what those 7 out of 10 things were then. We do now....now when the market is so teeter-totter in one direction. Ugh. I am sad for this particular buyer the most. 

So, with all of this said....DOES ANYONE READING THIS HAVE A PROPERTY THAT MY BUYER CAN BUY FROM YOU?? Valencia, Saugus, Castaic. Please call/text/message me directly if you do. Avoid all the COVID precautions, show to just my buyer....let's get you SOLD and him in a home for he and his dad.

Thanks for reading, it's much appreciated. 

Email is Lauren@KeepYourWitz.com. Cell is (661) 313-5470

 

Calculating Your Mortgage Payment With These Rates!

Rates are so low you could practically calculate a prospective mortgage payment multiplying by zero!

I know there are a lot of online calculators, I use Karl's Mortgage calculator. I'm sure it does the same thing you do when you're dinking around online looking at homes on a bazillion sites to find the right home and see if you can afford it.

But, as I've said before, the rates advertised don't apply to everyone. Depends on so many different pieces of a puzzle. And, it is sometimes very hard to find what costs are involved to get those rates....so, my suggestion? And, it costs you nothing? Reach out to a trusted lender. Whether it is your bank, who won't have a lot of loan programs. Or, it's your favorite Realtors (Me!) trusted lenders. Maybe your mom, dad, friend, had a great experience. Online lenders? Be careful, that's all I'm saying.

But, thanks to TW, one of my fave lenders, I am sharing with you what he sent me this morning about rates....absolutely insane. Never in my lifetime, let alone in my two decade career, have I ever seen anything like it....never have I ever. Is that last part from some movie?

At any rate, I know inventory is stupid low. And, I know it's totally a sellers market. And, I know we are overdue for a correction in values. BUT, if you're planning on staying in your home for a long period of time....take advantage of these rates and let's get you house hunting!

It's Hot Out, Right? Houzz Reminders of Ways to Keep Cool.

I bet we all know most of these that Houzz suggestions, but they are good reminders. And, there was one or two I hadn't really thought of that work magic with water!

I still want to get some shade situation up in our rear yard....but, alas, I STILL haven't done it. I love the sail shades. Have talked with my favorite window treatment gal about awnings too. Keeping the sun off the house, away from the entrance of the windows is one of the best ways. Well, that and a HUGE tree that has leaves in the Summer & none in the Winter. I do have a couple trees that are not evergreen. They are growing, but not quite large enough to do that magic just yet. And, patience isn't one of my virtues....LOL

I liked this idea. A shallow overhang to help protect the windows from the sun getting in. I think this particular idea goes really, really well with this home. Clean lines, wood trim. I dig it quite a bit. But, my house doesn't look like this one, does yours?

Take a look at the full article from Houzz here:

Houzz - Ways To Cool Off Without the A/C

That tree they show is pretty spectacular. We do have solar shades inside our home, they are super awesome as they keep the UV rays from coming in and I can still see the pretties outside. Adding anything that keeps the sun out is the best. My bedroom has plantation shutters. I slam those babies tightly shut in the morning and don't open them back up again til dark....coolest room in the house! I didn't think about the misters, let alone remember to put fans in front of the windows to suck the cool air in faster. Nor, have I ever, thought of the damp curtains trick.

And, lastly? I'm too old to sleep outside...how about you? I need my comfy bed!

Every Buyer Right Now is Dead Serious About Buying For Sure!

Today’s Buyers Are Serious about Purchasing a Home

Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates:

“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”

It’s no surprise that buyers are out in full force today. Many Americans now need more space to work from home, and the current low mortgage rates are providing an extra boost of motivation to enter the housing market.

If you’re considering selling your house, know that today’s buyers are serious about making a move. Your opportunity to sell your house in a market with high demand is growing, especially as more millennials enter the housing market too. The same report also notes:

“Of Millennials planning a home purchase in the next year, 57% are already actively searching for a home.”

Odeta Kushi, Deputy Chief Economist at First American, explains:

“When breaking down house-buying power by educational attainment for millennials in 2019, we find that the higher the education, the higher the household income, and the higher the house-buying power. In 2019, median house-buying power for millennials increased 16 percent relative to 2018.”

As demand for homes to buy grows and more millennials enter the market with growing buying power, the opportunity to sell your house grows too.

Bottom Line

Today’s buyers are serious ones and more millennials are helping to fuel that charge. So, if you’re considering selling your home, let’s connect today to determine your next steps in the process while buyers are actively looking.

Made My Heart Just Smile ~ A Recommendation From An Associate Agent!

I love getting reviews from my past clients. Those are challenging to get. I ask every single one of them, but life gets in the way. So I remind them once usually, then it's up to them if they take the time to do it. Frequently, the 2nd reminder does the trick and I always love what they have to say.

But, I gotta tell ya, when I get a recommendation from an associate agent? That's awesome. Why? Because it means that he/she felt to go above and beyond to tell me how much they enjoyed working with me. And, when I get those I share them with a Seller that I'm meeting about listing their home. And, I share them with a listing agent when my buyer is going up against multiple offers and I've never worked with that agent before. It helps Sellers and listing agents know a bit about me. Whatever it takes, right?

Trust me, when another Realtor is willing to say nice things about you?

In a world of extreme competition?

That's a beautiful thing.

This is from the listing agent at my most recent closing:

"You're one of the best agents I've ever worked with. One of the smoothest & most professional transactions I've ever been involved with. I will do another sale with you in a heartbeat and I would highly recommend you."

You can actually find more on my personal website...but you get the drift. We've got a great bunch of agents in my hometown...and getting this compliment is proof that I'm one of the sweetest of that bunch!