Do I Still Need To Prep My House For Sale?

Do you still need to? Of course you do! Anytime you want to sell your home and earn the most possible from the sale, you absolutely need to prepare your home by putting your best foot forward and listening to your Realtor. He/She sells many more homes, on a regular basis, than you ever have. A Realtor shows homes to real buyers, not HDTV buyers....but those ones are pretty good too!

So what do you have to do? What steps should you take? Walk through your home with your Realtor, let them guide you. Below are some simple suggestions, but each home may have a separate obstacle that your Realtor will teach you how to overcome.

We don't want just one person that likes your home enough to write an offer, we want several...


1) Clutter ~ may seem like an easy one. But, you may not see the clutter that someone else does. That toaster you use once a week? Put it away. That knife block? Can you put in inside the cabinet instead? Have a couple things on the counters, but not so many that you can't see. Furniture too. You may have a couple of really cozy pieces that you can hardly walk around. Move something out. NO, don't worry that your garage will be filled. Buyers would rather see a nicely laid out home with a crowded garage than not be able to see the floors or counters.

2) Highlight the good ~ People like center islands in the kitchen. They like fireplaces in the family room. And, some really like built-ins in their home too. Again, show off the center island. Can it be another eating place? Set a 'table' on it with pretty plates and place mats. If not quite big enough, place a potted plant or vase with fresh flowers. Fireplace? Make sure it's not just looking like an ugly old square box. It will be the focal point when you are arranging furniture, is sure better be, so make it nice too. Paint a wall near by. Add some candlesticks of different heights. Maybe a piece of art that draws the eye. If it still has the dated bronze screen, spend the money and put a more modern one in it's place. The built-ins that all your family keepsakes are in? Make sure it isn't overwhelming with...you got it clutter..... and make sure the colors go with the rest of the home. There should always be a similar flow of color through the house. Does any painting need to be touched up?

3) Clean ~ and keep it clean! Plan to do a spring cleaning, including the windows and their sills, and plan on keeping up on that level of cleanliness. Nothing worse that a buyer looking at a bathroom with toothpaste stuck in the sink, or the morning bacon frying pan still on the stove. Remember, you'll have less clutter, so it will be much easier to keep it sparkling. Animal care needs to be top notch. Litter boxes need to be hidden and super clean. Dog piles in the back yard need to be non-existent.

4) Landscaping/Exterior ~ Keep your gardener, even if it's you, on his toes! Make sure no dead spots on lawn. Trim all bushes. Keep fresh little lovely flowers in the beds. Make sure all exterior is swept and washed down. Any obvious peeling paint should be repaired prior to putting your home on the market.

5) Model home decorator touches ~ We all know how beautiful those model homes are. And, I'm here to remind you that buyers swoon over that kind of appearance. Anything, and I mean anything, that you can do to make your home look and feel more model perfect? Do it! Color coordinated bath towels. Candles, music and lights ~ all an absolute must.

There will be items we, as Realtors, suggest that pertain to your individual home. I strongly recommend you accomplish them......father maybe knows best, but Realtors know better....when it comes to the sale of your home.

New Landlord - Tenant Relationships ~ You Need To Know These

A lot of people are buying up homes to become investors. Where they couldn't compete with Mr. Trump before, they now are stepping into the race. And, you all know I believe that Valencia, and it's surrounding neighborhoods, has some great investment opportunities at this time.

But, you must keep current on tenant-landlord relationships. As I too am a landlord, I read up on that portion of Real Estate to share with my blog peeps.

This tid-bit I had read and planned on writing a post about, but when a portion of it dropped into my lap while looking for investment property it jumped up in the priority list of notifying my clients, past and present.

Changes for 2012 include:

"SB 332, which allows landlords to ban the smoking of cigarettes and other tobacco products anywhere on the property, even inside the tenant's apartment unit. For new tenants in 2012, the landlord must indicate on the rental agreement the areas where smoking is prohibited. For existing tenants before 2012, a new smoking ban is a change to the terms of tenancy that requires adequate notice, depending on whether the tenancy is a month-to-month or fixed term agreement.

Another win for landlords pertains to their rights in relation to HOA's (C.A.R. sponsored SB 150). Starting January 1st, any new HOA prohibition against renting or leasing a unit in a common interest development does not affect an owner who acquired title before the rental prohibition. That owner's right to rent persists for certain subsequent transfers, such as probate sales, spousal transfers, parent to child transfers, and other transfers exempt from property tax reassessment. This law does not apply to rental prohibitions in effect before 2012.

Tenant victories this year include the right to display election and other political signs under SB 337, but the landlord can make reasonable restrictions. For a single family dwelling, a political sign can be displayed from the yard, window, door, balcony, or outside wall. For a multifamily dwelling, the sign can be on the door or window of leased premises. The landlord may also limit the size of a political sign to six square feet, and restrict posting of a sign to 90 days before an election or vote and removal within 15 days thereafter.

And, one more tenant victory was SB 341. Beginning July 1, 2012, a multifamily building of five or more units must arrange for recycling services if reasonably available from a local service provider. The landlord may, however, require tenants to source separate their recyclable materials to help comply with this law.

Gotta A Tax Lien and Want To Short-Sale?

Just a quick note to remind people that think they can't complete a short-sale if they own income tax money to the Franchise Tax Board ~

The California FTB is accepting requests from taxpayers who have short sold their home and do not have enough funds in escrow accounts to pay the recorded state tax lien in full.

Taxpayers in this situation may apply for a Partial Release of Lien, which releases a specific piece of property from a recorded state tax lien. However, it does not release the lien in its entirety.  The lien remains in effect against the taxpayer and continues to encumber other property the taxpayer owns or acquires in the future.

Your agent should know, way before the escrow is about to close, if there are any tax liens against the property. But, it is possible to have it taken off the home, complete the short-sale and move on....but, with the lien still on just you.

Billions of Relief Money

It's all over the news this morning. The robo-signing mess has created a huge amount of money to help the housing mess.

I've read it a few different places, so will you.This link, I think, is the best one:

Mortgage Deal Could Bring Billions In Relief

I could repeat everything, but really it's worth reading the article. People that were foreclosed upon erroneously may get up to $2000.00 in damages.

People that are underwater may get help with refinancing or principal reduction. 

What I like best? That your loan doesn't have to be backed by The two F's....Fannie or Freddie. They have been doing a bit of refinancing even if you are underwater. I've checked for many clients....and, unfortunately, they were not F or F backed. So this I see, as a really good thing. The 2k isn't spectacular, a drop in the bucket. But, if we can get the rest of the people that have been continuing to pay their mortgages instead of walking away, to get a principal reduction or refinance sooner than later? We'll keep more people in their homes. We all want that, don't we?

By the way? California is getting the most! 

Santa Clarita Valley MLS Stats

Valencia and the surrounding communities have a couple hundred less homes available for sale right now....kind of typical for beginning of the year. But, sharing the stats for you.

ACTIVE: 993
Short-Sales ~ 449
REO's ~ 147

PENDING or TAKING BACK-UP OFFERS: 769
Short-Sales ~ 483
REO's ~ 135

CLOSED SALES IN LAST 30 DAYS : 244
Short-Sales ~ 97
REO's ~ 73

And, the number of cancelled, withdrawn and/or expired listings in the last 30 days ~ 150

Military Buyers ~ $5,000 Grant

Just a quickie ~ I know we have quite a few people in Valencia/Santa Clarita Valley that this could help!

Active duty personnel, veterans, retired members of the military, and employees of the U.S. Department of Defense and the Department of Homeland Security are eligible to apply for up to $5,000 in down payment and closing costs in the purchase of a first home. The national non-profit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and says the grants can be applied to a mortgage from any financial institution.

More info is at: www.PentagonFoundation.org ~ Dream Makers

Sounds good to me!

Rental Values Expected To Double In 14 - 20 Years!

I have a rental in Valencia, over in the Westridge community. My tenants, knock on wood, are marvelous! I definitely think now is a great time for people to invest anywhere in Santa Clarita Valley and hold it as income property. When you can purchase a little 2 + 2 for 125k that is freeway close and has a 2 car garage? And, the rent can cover the expenses? Now, that's a great rental!

Lawrence Yun is chief economist of the National Association of Realtors. He always has a 1/2 page blurb in our Realtor magazine. Last night I cut out one that was right on target for would-be investors....to get them off the fence.

Whether you are investing in stocks/bonds/mutual funds, or Real Estate....it's for the long term, right?

Now everything will go up, yes. Well, except a fixed mortgage!

From my N.A.R. economist pal: "Rents rose at a better than 3 percent annualized rate in the third quarter of 2011, government data shows, and private data sources imply even faster rent growth.  And, there is no reason to believe this rent growth will cool, given the favorable demographics of a rising number of young adults over the next 20 years, a high number of owners of foreclosed homes who can't buy in the near term, and the low construction rate of apartments. If annual rent gains stay near 3.5%, rents will double in 20 years. If they reach 5 %, rent doubling would occur in 14 years."

I do feel that when the families whom have been displaced by foreclosure are able to start buying again, we will see some income properties make an adjustment in their monthly rents charged.....but, I do believe that Yun is pretty right on about the doubling of the rent values in my lifetime! And, a fixed mortgage is just that, FIXED.