Winter Cleaning VS. Spring Cleaning?

Yep, you know I've done some 'Spring' cleaning/organizing this last couple weeks. And, yes, since I googled things on my phone, Facebook is now showing me things on my desktop. I still don't like that it happens, but it brought me these cool other ideas to share with you.

We've all seen the shower curtain rod in the back of the shower for hanging kids toys, right? Well this one is a curtain rod for things over your kitchen sink. I can't do this as I have a window over mine, but I suppose it would work great over a toilet too....thinking outside the box.

This one is using the flooring on a wall. I've seen full accent walls using this technique, BUT, this one was depicting it as a kitchen back-splash! Laminate, must be fire retardant I suppose, but how super easy to clean...as long as the 'grout' lines are super-duper tight so you don't get yucky stuff in them. I'm liking this idea a lot. And, I think I could do this!

If you don't have a laundry room that your washer & dryer fill the entire space side-to-side, this is a great idea to keep it looking tidier and you get extra shelf space. That's one super easy, & cheap, DIY for the laundry room!

Well, more dust collectors here, but I like the look of this display shelf over a doorway. And, if the items you are displaying give more free space to your kitchen cupboards....I'm all over that. As long as I don't have to keep those things clean! I'm trying to decide what Items I'd put up there....

This idea I saw in multiple places. I'd google the longevity of it before I did it. But, it is a great way to change up your kitchen or bathroom tile. Yep, that's painted grout. I'm not sure I could handle being on the ground for long enough to paint all the lines though. We sealed our grout years ago using a similar technique....back-breaking. And, that was before I had a bad back! Don't recall it working very well at sealing the grout from getting dirty either.

AnyWhoHow, thought these ideas were cool enough to share. Yep, I'm still getting a boatload of suggestions in my Facebook feed....trying NOT to click on anything hoping it will die down.

Which one(s) are you thinking of trying now??

Super Important When You're A Buyer In Escrow!

 

The Do’s and Don’ts after Applying for a Mortgage

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You're undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major life changes, consult your lender – someone who is qualified to tell you how your financial decisions may impact your home loan.

Below is a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process.

1. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender. Lenders need to source your money, and cash is not easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

2. Don’t Make Any Large Purchases Like a New Car or Furniture for Your New Home. New debt comes with new monthly obligations. New obligations create new qualifications. People with new debt have higher debt-to-income ratios. Higher ratios make for riskier loans, and then sometimes qualified borrowers no longer qualify.

3. Don’t Co-Sign Other Loans for Anyone. When you co-sign, you’re obligated. With that obligation comes higher ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you.

4. Don’t Change Bank Accounts. Remember, lenders need to source and track your assets. That task is significantly easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.

5. Don’t Apply for New Credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be impacted. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.

6. Don’t Close Any Credit Accounts. Many buyers believe having less available credit makes them less risky and more likely to be approved. Wrong. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants of your score.

Bottom Line

Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. The best plan is to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.

Santa Clarita Home Sales Activity - One Week Before Christmas 2020

Well, needless to say our inventory is shrinking. It's, quite honestly, HALF of what we had this time last year.

Who would have thought a pandemic would create such a housing frenzy.

If you've been reading my blogs, watching my YouTubes, following me on SM, then you know I consider SCV to include Acton to the East, Castaic to the North, Stevenson Ranch to the West, and Newhall to the South plus all the little communities in between.

As of 1 pm today we have 245, yup, you saw that right, 2....4....5 homes available for sale. That includes Single Family Residences, Condos, Townhouses.

Here's a Visual For Ya!

Currently in escrow......550. Yup, over double of the active amount. And, yup, including the same areas and the same types of homes.

Sold in the last 30 days you ask? Great question...lol....467. What has been our typical for years? I'll wait to see if anyone answers...

We do have a few in the Coming Soon newer category, 19.

Nothing made any sense this year. But, in the almost 2 decades of selling homes I've never weathered a pandemic either.

I was able to help a lot of sellers & buyers, and I'll always do my utmost to accomplish my clients Real Estate goals.

Stay tuned for when we close that deer filled 12 acres! I will have one HUGE feather in my cap for getting that baby sold!

If you're thinking about selling in 2021, it would appear we will have much of the same as 2020. Masks, gloves, hand sanitizer, limited amounts of people viewing....and, still low interest rates. Yes, you heard that right.

Will home values continue to go up? Yes, if we continue to have minuscule inventory, they absolutely will.

So, rates are low, prices are high....if you're in for the long haul, it's an AOK time to buy. If you're thinking about selling in a couple years, maybe not so much.

Ahhhh, where is that dang crystal ball??

Considering a Forbearance? Read On!

5 Steps to Follow When Applying for Forbearance

If you’re currently feeling the stress of affording your mortgage payment, or if you know someone who is, there’s still time to get help. For homeowners experiencing financial hardship this year, the CARES Act provides mortgage payment deferral options, creating much-needed relief in these challenging times.

It’s important, however, to understand how forbearance works. It’s not automatic. You need to take action now and apply for the program before these options expire.

A study by the Urban Institute determined:

“Approximately 400,000 homeowners who became delinquent after the pandemic began have forgone forbearance and become delinquent. These borrowers may not know they are eligible for forbearance.”

Thankfully, there’s still time to apply for forbearance, even if you’re just learning about it now. Doing so may be the game-changer you need to stay in your home, just when you need it most. Mike Fratantoni, Senior Vice President and Chief Economist at the Mortgage Bankers Association (MBA), explained:

“The increase in new forbearance requests may be the result of additional outreach to homeowners who had previously not taken advantage of forbearance opportunities.”

If you need to apply for forbearance but aren’t sure how to begin the process, the Consumer Financial Protection Bureau (CFPB) published 5 steps to follow when requesting mortgage forbearance:

1. Find the contact information for your servicer

Look at your mortgage statement to find the phone number for your servicer (the company you send your mortgage payment to every month). The Consumer Financial Protection Bureau encourages you to use the number on your statement to avoid scams.

2. Call your servicer

Explain your situation so your servicer can determine your best course of action. Be sure to ask any questions you have about the process.

3. Ask if you’re eligible for protection under the CARES Act

The CARES Act protects homeowners with federally backed loans (FHA, VA, USDA, Fannie Mae, and Freddie Mac). In addition, some private servicers are also providing forbearance programs.

4. Ask what happens when your forbearance period ends

Depending on the plan available to you, there are different options you may be able to consider. Your servicer will help you get a better understanding of what’s available.

The CFPB also recommends asking questions like:

• What happens to the payments I miss?
• What are my repayment options?
• When will repayment be due?
• Are there any fees?

5. Ask your servicer to provide the agreement in writing

A written agreement allows you to see exactly what type of program you’re agreeing to. It also helps you make sure it matches what you discuss with your provider over the phone.

Bottom Line

Help is out there for homeowners in need, but it’s important to apply now while this benefit is still available. The Consumer Financial Protection Bureau says: don’t wait, forbearance is not automatic. It must be requested. Reach out to your mortgage provider today so you can get the assistance you need to protect the hard-earned investment you’ve made in your home.

Lack of Common Courtesy in Real Estate

 A story of the week, and a subject matter I've touched on previously....

Working with a couple of buyers. We've written offers on a few properties. It's a challenging market to say the least but they've stepped up to the plate. Written offers quickly, removed appraisal contingencies, patiently waited to hear back from the listing agents. Me? I'm not quite as patient.

But, that's not even the real story here. 

We wrote on a property that was under-priced and listed by an agent that is from out of the area. Needless to say, per agent, they received 15 offers. Ours was originally written 25k over list price, then we bumped up another 10k, removed our appraisal contingency, shortened up inspection period ridiculously, and tightened up loan contingency as well. 

These days it's a text, an email, not so often a phone call. But, I text agents to alert them that I'm sending them an email if it's offer related and ask for 'Confirmation of Receipt'...always. If I don't hear back, I make a phone call, leave a message.

This particular agent was hot in response when he first put it on the market in the Coming Soon category. He was pretty good when it went active, he was sorta okay when I sent the offer, and just okay when I sent back our final response to their seller multiple counter offer.

After emails and texts I would finally get a response that seller was making a decision today and ours was one of the top ones. Next day, same thing, seller was making a decision today, it "was hard as there were 5 really good offers"....my clients being one of them.

Next day....and, since then, it's been silence. No response to texts/emails, nada. Then, as we expected, the property showed as under contract in the MLS. 

Not a nice way to find out your buyers offer wasn't selected. And, while in Santa Clarita most agents are pretty good about treating people with respect....that other crowd? 

Well, they just don't seem to believe in that old adage. 

And, guess what? I sent him an email saying I saw it went under contract and I presume we weren't the buyers selected? Think I got a reply? Nope, nothing, nada, zero courtesy response .....at......all.

So disappointing. I've never done that. Never ignored another agent. Never not responded to them. And, I never change it in the MLS without having let the other agents know first. So they can tell their clients....not have their clients find out and be heartbroken by a computer screen.

The Bachelorette & Being A Realtor? What?

 A couple years ago I joined a women's group for fun. I started by going to a Bachelor watch party! I used to watch it years & years ago, stopped as it's so silly. 

I became foolishly addicted to it again! And, now I watch the Bachelor AND the Bachelorette! Sheesh!

So, what does that have to do with being a Realtor?

I took a listing 14 days ago. It had been on the market many times with previous agents. I presented to the sellers my ideas of how it should be marketed, price it should be listed at, and the things I would do to get it sold.

I had my photographer extraordinaire take day, twilight, & drone still shots. And, I had him do a video highlighting the home & property. It still was the same home, no wide angle lenses or photo-shopping extreme going on there. But it also showed the property, the hills, the road in. It truly showed the home in it's real, yet best, light.

I prepared an additional document about the home that was put in the MLS. I did the description for the home with a little tweaking from the Seller. 

And, before anyone was allowed to view.....did the buyer know about the dirt road, had they watched the video, and were they willing to put on tennis shoes and actually walk the property with me as their guide? Honestly? If they weren't willing to hike around, it wasn't the home for them.

So, I don't know how many times, I lost count, I was tour guide for the home in Tapia Canyon with the family of deer. A one hour tour. The hills, the views, the meandering paths. I enjoyed it, I got tired for sure, but it was tons of fun for me as well.

Suffice it to say, we got 3 very strong offers in and have just selected the winning buyer last night, significantly over list price.

Again, what does this have to do with that silly rose petals and ring show?

Nothing is worse than telling someone they weren't selected. Because I had met each and every buyer for the tours with their agent, a couple came twice, I developed a 'relationship' with the suitors and I broke a couple hearts last night when I had to tell they they would not be getting the final rose.

But, my Sellers are happy, we only have one contingency to contend with, and I'm looking forward to getting to the final rose ceremony as quickly as possible for my peeps!

Every Buyer Has Heard Alllllll Of These From Me!

5 Tips for Homebuyers Who Want to Make a Competitive Offer

Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.

1. Listen to Your Real Estate Agent

A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.

3. Be Ready to Move Quickly

According to the Realtors Confidence Index, published monthly by the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Be a Flexible Negotiator

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.