Why An Agent is Your Best Friend When Buying or Selling a Home

No matter how you slice it, buying or selling a home is a big decision. And when you’re going through any change in your life and you need some guidance, what do you do? You get advice from people who know what they’re talking about.

Moving is no exception. You need insights from the pros to help you feel confident in your decision. Freddie Mac explains it like this:

“As you set out to find the right home for your family, be sure to select experienced, trusted professionals who will help you make informed decisions and avoid pitfalls.”

And while perfect advice isn’t possible – not even from the experts, what you can get is the very best advice out there.

The Power of Expert Advice

For example, let’s say you need an attorney. You start off by finding an expert in the type of law required for your case. Once you do, they won’t immediately tell you how the case is going to end, or how the judge or jury will rule. But what a good attorney can do is walk you through the most effective strategies based on their experience and help you put a plan together. They’ll even use their knowledge to adjust that plan as new information becomes available.

The job of a real estate agent is similar. Just like you can’t find a lawyer to give you perfect advice, you won’t find a real estate professional who can either. That’s because it’s impossible to know everything that’s going to happen throughout your transaction. Their role is to give you the best advice they can.

To do that, an agent will draw on their experience, industry knowledge, and market data. They know the latest trends, the ins and outs of the homebuying and selling processes, and what’s worked for other people in the same situation as you.

With that expertise, a real estate advisor can anticipate what could happen next and work with you to put together a solid plan. Then, they’ll guide you through the process, helping you make decisions along the way. That’s the very definition of getting the best – not perfect – advice. And that’s the power of working with a real estate advisor.

Bottom Line

If you’re looking to buy or sell a home, you want an expert on your side to help you each step of the way. Connect with a real estate professional so you have advice you can count on. Connect with us!

Jennifer, Lauren, & Leslie

(661) 313-5470 😊

Vogue's Ideas for Home Decor in 2024

Well, let's be serious, Vogue is a whole different animal in design and decor. It always has been. Deep, mysterious. So, when I mention Vogue's home decor ideas....it probably won't fit us all. Some will dislike immediately, some will be intrigued.

But, they also talk about what is OUT for 2024. And, I'm happy about some of those for sure!

Here's a few in .... per Vogue .....

Dark & very, Moody.

Dark, and busy. Old fashioned to me.

This one is more interesting, but still, 'moody' for sure.

Now, on the way out you ask? 

1) Instagram Design! YES!! or Pinterest. Basically copying anything from either is out, out, out!!

2) Ivory Boucle. I had to google that one. It's the white nubby textured fabric found on furniture.

3) Fast Furniture. Meaning the kind of stuff that doesn't last forever. I had an interior decorator tell me years ago it was okay to buy inexpensive furniture so when you got bored with it, you didn't feel guilty about getting rid of it!

4) Fake Fur Throws. Um, I don't have any of those ... do you?

5) Wicker Lamps. Well, crap. I do have a couple lamps in my living room that have woven basket looking shades. Damn it!

6) Ruffles. Like the potato chips you ask? Nope, like anything that has ruffled edges. 

7) Minimalism. Well, I say, if you like it, you like it. But, I am more into warmth in my home for sure.

8) Mid-Century Modern Angular Furniture. So, over that by me too!

9) All White Kitchens. Well, I wish mine was as it'd be so much brighter. But, I've heard for quite some time, that wood cabinets do hold the test of design time. However, needless to say, good ole Vogue is talking all about 'moody' colors instead! 

Here's the full article if you're interested: 👇

The Interior Design Trends to Know in 2024—And What’s on Its Way Out

Let us know what cha think!

Impound, or Escrow, Account Clarity

When you read an article that says only 1/2 of the people understand exactly what an Impound account is or does... First I'm surprised, second, figure I better blog about it!

Frequently when you are buying a house, or when refinancing, your lender asks you if you want to impound your property taxes and insurance. They describe it as a savings account that pays your property taxes and home insurance when they become due. It becomes part of your monthly mortgage payment.

I'd actually never done it. Didn't know why we chose to do it for our Lake House, but we did. Works perfectly fine. My monthly mortgage billing shows how much is in our escrow account. Bet that confuses people since when they were buying a house it was called 'going through escrow'. And, I'm honestly not quite sure why they refer to it as an escrow account when the mortgage broker calls it an impound.

Regardless, there are a few things you need to know:

1) When your loan gets sold, or transferred, to a new servicer.... make SURE you let your insurance company know who the new servicer is so the billing gets to the right people and the insurance gets paid.

2) On the flip side, if you change insurance companies, you must let your mortgage company know so they pay the right insurance company.

3) When insurance and/or property taxes increase, so will your monthly mortgage payment. If you're in California, be prepared for insurance likely going up a lot. And, as noted in # 2 above, if you find someplace cheaper, don't forget to tell your mortgage company!

And, Congrats go out to two of our sellers this week! One had full contingency removal and is closing very soon. Another got multiple offers, is popping into escrow well over list price, and is scheduled for a 21 day close! Now, if we could just find a couple great properties for some special buyers, that'd be awesome!

It takes a team to make things happen!

We've got a great team here!

February 2024 ~ Santa Clarita Home Sales Info

Lord have mercy, that February word is so hard to spell... still! Why that first R was ever put there I'll never know.

At any rate, sorry I missed writing a blog last week. But, just like life goes on, work goes on too, so here ya go!

All about our beautiful Santa Clarita Valley home sales. Including Acton to the East, Newhall to the South, Stevenson Ranch to the West, and Castaic to the North. Plus, our lovely little neighborhoods in between of course.

Quite honestly, not very exciting. Sales are still happening at least! I'd noticed a slight uptick in listings, but not by a huge amount. Disappointing news on the interest rates from Jerome Powell, Fed Chair. Seems no rate cuts will happen for a few more months. They actually went up this week.

"The average rate on a 30-year fixed mortgage rose to 7.11 percent, up from 6.89 percent last week, while the average rate on a 15-year fixed mortgage climbed to 6.49 percent, up from 6.3 percent a week ago." I quickly googled this morning and spotted a rate at 7.6!

Talked with a past client yesterday about his daughter buying her first home. It was so hard for me to have to give him a reality check, as he called it, about the cost of buying a home right now. During the phone call, as promised, I texted him some lender info so that he could pick their brain about different options that may help ease the 'pain' of the current interest rates.

On a lighter note, we had a property fall out of escrow and a back-up buyer popped right back in! Wahoo! AND, we have a new listing that just hit the market that Jennifer is servicing down in Culver City.

Open House this Weekend!

We're here for you. Always. Sometimes it's just to chat, counsel, learn. 

Whatever you need, all three of us are willing to help in any way we can.

NEW Television Entertainment Center Ideas !!

Looking at a new home with Buyers and frequently the thought goes to 'Where am I going to put my TV?'  When my first husband and I were looking for homes in Valencia, back in 1993, we distinctly passed on one since our ginormous television wouldn't fit in the living room. It was one of those rear projection TV's. So modern back then!

Then it progressed to the flat screen televisions. Entertainment centers, over fireplaces. But, we often still wonder how we can make the TV not really the focus of that wall, right? Well, for some members of the family I'm right. Hah!

These were some beautiful ideas from HOUZZ designers. The full article is in the link below the photos.

A librarian friend of mine probably has this already!

Very sleek, any color would do. I'd probably pick an earth tone.

This reminded me of a movie theater in a fancy airplane!

👉 Full Article From HOUZZ

One of our favorite parts of being a Realtor is seeing other peoples homes. Looking for design ideas for ourselves and for our clients as well. If you're a Realtor though, you know, the most favorite part is making someone's home dreams come true. 💗

When Should You Make A Low-Ball Offer?

We generally see investors make a lot of low-ball offers. They don't care if they get the house or not, on to the next if their offer is rejected.

Buyers that are planning on living in the home, they want to write an offer on, usually are more readily open to NOT writing a low-ball offer. They want to get the house so they certainly want to get their offer accepted.

Let's be serious, when the market is a hot, hot, hot Sellers market, there aren't many opportunities for a low-ball offer getting accepted. 

But, when should you consider making an offer well below the Sellers list price? We, your agents, will always provide you with a market analysis of what the home you have fallen in love with is 'worth'. What it's market value truly is. 

1) If the property just hit the market & is listed at the correct market value ~ don't do it.

2) If the property has been on the market for a while ~ maybe do it.

3) If the property is overpriced ~ do it.

The biggest issue is, of course, the Seller. They priced their home where they wanted to sell it. Are they motivated to truly sell their home? Will you offend them if you write a low offer? Have they done any price reductions since listed?

For a buyer, are you willing to lose the home you want by writing a low offer. Most contracts have an appraisal contingency and that will help you if it's overpriced. It, of course, depends on how your agent wrote the offer on the buyers behalf.

Honestly, the most important thing is to listen to us, your Realtors. We know precisely what is happening in the market. We can find out things you can't. We will guide you on how to get the home of your choice for the best price possible. That's just part of what we do, but we do it very well.

If you have more questions about this topic, or any other real estate topic, just reach out. 

Pay off Debt Before or During Escrow?

Not uncommon for a buyer to talk with a lender and the lender suggests paying off some debt to reduce their "debt-to-income" ratio for a better mortgage rate. If you've got the money in the bank it's great.

If you don't, but it still needs to be paid off to close escrow? Thanks to our wonderful escrow team for this reminder:

Paying Down Debt During the Escrow Process

It is actually quite common that you may be asked to pay down some of your debt during the escrow process. It may be a car, or credit cards, or other personal loans. Don’t consider this a bad thing! In a way, it’s a lot like consolidating your debt. If you’re wondering how the process works in that some (or all) of your debt is eliminated during the escrow process, read on!

By this point, you are probably acutely aware of the term “debt to income ratio.” Your mortgage lender uses this equation to determine how much money you are able to borrow. The more debt that you have, the less money you will likely be able to borrow. This is why mortgage lenders often request that borrowers pay down certain debts as a condition of loan approval.

And often, these debts are paid by escrow. This all has to do with timing. If you were to simply mail in your credit card or car payment, or even pay them online, it could take weeks before your lender could verify that these debts were paid in full. On the flip side, when escrow makes these payments, they are recorded on the buyer’s final escrow settlement statement, which is official enough for a mortgage lender to consider the debt paid as requested.

In order to help things move along smoothly, here are some other things to keep in mind when you are asked to pay debts in escrow:

Correct Account Numbers

Often times, your mortgage lender is pulling this information from your credit report, and that may mean they only have access to a partial or redacted account number or abbreviated company name. Make sure you provide your most recent statement with the correct payment mailing address and your full account number to escrow. This will ensure your account is credited properly and in a timely manner.

On-Time Payments

The last thing you need when you’re buying a home is a late payment, and that can happen when escrow is handling a debt payment. Make sure you keep close tabs on your escrow closing date and your normal monthly payment due date because debt paid via escrow will not be paid until the day escrow closes. It’s customary that physical checks are mailed, so allow time for this to avoid late fees. This may mean that you need to make a normal payment, and any overpayment will be returned to you.

Make Sure To Provide the Correct Statements

At the close of escrow, the original checks payable to the credit card or other loan company will be mailed to the addresses on the latest statements that you have provided to the Escrow Holder. You want to make sure to provide the correct statements so that you can be confident that the checks are mailed to the appropriate company.

Need to Change Amounts?

Because the dollar amounts are taken from your credit report, a living and ever-evolving document, you may find that you need to change the amount paid to your debtors (this can be higher or lower). Keep in mind that your Escrow Officer is required to abide by the written instructions of your mortgage loan company, so if you need to change the amount, contact your loan officer to find out what is required to make this happen.

This is just another instance where communication is key during the home buying process. Be sure to stay in close contact with both your Escrow Officer and your Loan Officer to ensure that the payments of your debt during escrow goes smoothly.

We're here to answer any questions you may have.

Start with us and we'll get you to the finish line!