RicknRita's Real Estate Blog

Turnkey Eastvale Homewith RV Parking

2010-10-19T19:03:00.000-07:00

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Minor Repairs Can Yield Top Dollar

2010-10-10T13:26:00.000-07:00

Imagine you are the buyer looking at your home. What do you think needs repair? If there are items that need fixing, buyers may take the repair costs off the price they offer for the home. And they often inflate these costs.

If the lender requires the repairs to be made to the property as a condition of the loan, you, the seller, may pay for the repairs twice: first in a lower sale price and second in the out-of-pocket cost of the repairs themselves.

The most common areas of concern are the roof, gutters, and downspouts. Repair of missing or peeling exterior paint may also be a condition of the loan.

The following are simple repairs that make a huge difference in marketability and sale price:
* Replace washers in leaking faucets
* Fix handrails and repair steps
* Replace light bulbs and fixtures where necessary
* Make sure windows open and close
* Eliminate earth-to-wood contact around the house
* Replace loose or damaged tile or vinyl

Taking care of necessary repairs before putting your house on the market is important to yielding top dollar and ensuring a quick, hassle-free sale. I'd be happy to come by and make some recommendations on how to create an inviting atmosphere. Homes that convey pride of ownership frequently receive the best offers.

Please call or email us if we can answer any questions or help you get top dollar when you are ready to sell.

Maximum Exposure for Top Dollar

2010-10-05T13:12:00.000-07:00

When you are ready to sell your home, I can develop a marketing plan to provide you with the maximum exposure. This will allow me to market your home to the widest segment of buyers. The more potential buyers you have viewing your home, the better the opportunity to obtain top dollar.

There are many methods to use when marketing your home:
* “For Sale” signs
* Open Houses
* “Just Listed” notes to the neighbors
* Calls to prospective customers
* Ads in the papers
* Ads in real estate magazines

One of the most effective ways to market your home, however, is on the Internet, where you get exposure 24/7. According to the latest research, 80% of all home buyers surf the Web in search of their new home.

If you decide to sell, We'd be happy to discuss our marketing strategies and develop a plan for you. Please feel free to call or email us anytime with your questions

Just Listed, Eastvale Standard Sale

2010-10-04T11:00:00.000-07:00

Effective Pricing Leads to Success

2010-10-03T15:37:00.000-07:00

When it is time to sell your home, you want to price it to yield as much return as possible. Pricing strategy is one of the most important elements in selling your home.

A market analysis of your home will help you determine value. This involves analyzing the current competition--other like properties currently on the market. I'll look at properties that have already sold, to determine what people have been willing to pay for similar properties. I will also analyze properties that haven’t sold, some of which are overpriced.

The goal is to price the property accurately for the marketplace. You don't want to leave money on the table, but you don't want to overprice your home either. If you overprice the property, you risk having your home sit on the market. Then you may have to drop the price below what you could have received if it had been priced correctly to begin with. Upon seeing a home that is fairly priced, most motivated buyers offer full or almost full price.

When you are ready to sell, We'll be happy to stop by for a quick view of your home. Together we will price it to sell for top dollar, in the shortest amount of time, with the least amount of inconvenience to you.

How Long Will It Take to Sell My House?

2010-09-30T13:32:00.000-07:00

Many sellers want to know how long their home will take to sell.

As agents, we can pull from several sources to determine average time on the market from time of listing to accepted offer. These statistics vary depending on interest rates, price range, local economics, and other factors.

Once an offer is received and accepted, the sale may take from 30 to 60 days to close, depending on the financing.

Therefore, to determine when to put your home on the market, decide the date you'd like to move and work backward from there. I'll look at the average time on the market for properties in your price range and the type of financing available. This will help me determine the time frame you will need.

If you're interested in getting an estimate on how much time to plan for your next move, please call or email us.We would be happy to provide you with an updated market evaluation for your home and discuss a timeline that will work for you, so you can accomplish your moving goals.

Foreclosure Activity Increases 4 Percent in August

2010-09-17T15:05:00.000-07:00

Foreclosure Activity Increases 4 Percent in August

Letting Go of Clutter

2010-09-16T12:37:00.000-07:00

Many people strive to become more organized but find it difficult to get rid of clutter. People may hang on to things because they are afraid to throw them out for fear they may want to use them later. Most professional organizers, however, advise that if you haven't used something in a year, it’s time to get rid of it.

An important reason to get organized and uncluttered is to sell your home. To obtain top dollar when you decide to sell, your home needs to be clean, well-maintained, and free of clutter.

Some tips to help you eliminate some of the clutter and get organized are:

* Donate items to charitable organizations, and use your receipts for tax deductions.
* Schedule a garage sale to sell your gently used items, but know that shoppers expect a hefty discount on price.
* Consider offering electronic gear, sporting equipment, or designer clothing to a consignment store.
* Throw out old papers and useless items.

You don't want to spend time and money moving the clutter to a new home. We hope this information will be of help to you. Please feel free to call or email us if you have any questions.

Maximizing Emotional Appeal

2010-09-14T16:01:00.000-07:00

When you are ready to sell, you'll want to maximize the emotional appeal of your home. People who are enchanted with your home the moment they walk in are most likely to buy the home, and at a fair price.

Here are some tips to help enhance the emotional appeal of your home:

* Turn on the lights to create a warm glow and remove the shadows.
* Make sure the windows are clean and open the curtains or blinds.
* Keep the kitchen and baths clean and sparkling. Don’t leave dishes in the sink.
* Remove all clutter, make the beds, and pick up toys.
* Pack away items that may detract from a buyer’s ability to mentally move into your home such as family pictures or teen posters.
* Make the closets look bigger by packing up the clothes you are not using.
* Create a relaxing atmosphere with soft music.
* Make people feel at home with homey scents such as freshly baked cookies or bread or good potpourri.
* Check for pet odors and keep pets safely out of the way when your house is being shown.
* Clean out your basement and garage and neatly stack boxes you have stored there.
* Add charm and appeal with fresh flowers and plants.

Set the stage to show your home to its best advantage. Please call or email us if you have any questions or would like us to provide you with tips on how to prepare your home for sale

Relocation

2010-09-13T10:37:00.001-07:00

Moving to a new city or town can be a wonderful adventure. People who have made many job transfers and moves recommend researching your destination city before the move. Visit the city on a workday and a weekend so you can see what kind of place it is in which to live and work. Use the Internet to research the area’s amenities and subscribe to your destination city’s local newspaper.

Find out from your employer what kind of relocation package will be provided. Will the cost of the move be paid for? If you have a home to sell in your current city, will your employer help with the closing costs or guarantee a buy-out if the house doesn't sell right away? Get such offers of assistance in writing. Will you be able to afford the cost of living in your new city? It is essential to figure out what you will need in order for the move to work for you.

Here are some practical tips to help you with a relocation transition:

* Move quickly. Extended good-byes are painful and upsetting.
* Conserve cash. Have an emergency fund for surprises that may occur before, during, and right after the move.
* Be open to your new environment. The new area may be just as good as or better than the place you are leaving.
* Understand that your children may experience loss and confusion. They may act out if they can't express their frustration or sadness.

If you find yourself needing help with relocation or if you know someone else who is relocating, we can provide excellent information about your destination city. And we can refer you to an agent who works in that area to help make this transition as smooth as possible. Please call or email us if we can help you or any of your friends and family.

Receive a Return on Your Remodeling Investment

2010-09-10T07:40:00.000-07:00

When you purchase a new home, you want to personalize or imprint it with your own style. This usually takes the form of decorating, such as painting, wallpapering, and installing new window treatments.

You may want to remodel your new home as well as decorate it. Many home improvements may enhance your lifestyle, but they may not necessarily add resale value.

Although this may not seem important right now, it will certainly make a difference when the time comes to sell. You won't get your money back with some improvements, yet others can help make you money.

The return on investment differs from region to region, but here are some general rules:

* Enhancing a home's “curb appeal” will help sell it for top dollar. Painting the exterior is a relatively inexpensive way to add curb appeal.
* Remodeling the kitchen and/or baths is one of the best ways to add value.
* Adding a room or garage is an expensive improvement, but it can pay off if it is carefully designed.
* Decks and patios can add value in some areas.
* Landscaping often adds appeal, but not necessarily value.

Please feel free to call or email us with any questions.

Factors That Drive Value

2010-09-09T07:28:00.000-07:00

Household incomes, mortgage rates, the job market, and affordability are all factors that help determine a home’s value. Yet another factor is a home’s amenities.

Of course buyers look at the number of bedrooms and baths and whether they have been updated or remodeled. They also look for an updated or remodeled kitchen, a family room or “great room,” two- or three-car garages, and an outdoor living area, such as a patio or deck.

With many people working longer hours, another factor that affects value is the condition of the property. Most people want a home that they can move into easily. Keeping your home in good repair is important to obtaining top dollar when it is time to sell, as well as for your own enjoyment in the meantime.

Maintaining your home consistently is the most efficient way to keep it in good repair. Seasonal chores such as checking the gutters and downspouts in the fall and checking the roof for weather damage in the spring can maximize their effectiveness and minimize the time it takes to keep them maintained.

Please don’t hesitate to call or email us if we can provide you with information or resources on home maintenance.

Post-Tax Credit Buyers May Save Money

2010-05-27T13:51:00.000-07:00

REALTOR® Magazine-Daily News-Post-Tax Credit Buyers May Save Money

Just Listed

2010-04-25T09:04:00.000-07:00

5 Costly Mistakes First-Time Buyers Make

2010-04-20T14:14:00.000-07:00

Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:

1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.
2. Muddying the waters by shopping for other things before closing. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.
3. Scrimping on an inspection. Being surprised by the need for expensive repairs can be financially devastating.
4. Buying without contingencies. Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.
5. No money for insurance. Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.

Source: CNNMoney.com, Les Christie (04/19/2010)

No More State Tax on Forgiven Debt

2010-04-14T10:04:00.000-07:00

Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification. Enacted into law yesterday, Senate Bill 401 generally aligns California's tax treatment of mortgage debt relief income with federal law. For debt forgiven on a loan secured by a "qualified principal residence," borrowers will now be exempt from both federal and state income tax consequences. The existing federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.

"Qualified principal residence" indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence. It includes both first and second trust deeds. It also includes a refinance loan to the extent the funds were used to payoff a previous loan that would have qualified.

The tax breaks apply to debts discharged from 2009 through 2012. Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.

Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions. Most notably, taxpayers who are bankrupt are exempt from debt relief income tax. Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.

For more information about mortgage forgiveness tax consequences, go to California Franchise Tax Board's Mortgage Forgiveness Debt Relief Extended webpage and the Internal Revenue Service's Mortgage Forgiveness Debt Relief Act and Debt Cancellation webpage. The full text of Senate Bill 401 is available at www.leginfo.ca.gov.

2010-03-25T18:31:00.001-07:00

Governor signs home tax credit bill

2010-03-25T18:31:00.000-07:00

Governor Schwarzenegger today signed AB 183 providing $200 million for home buyer tax credits. The bill allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes.
Eligible taxpayers who close escrow on qualified principal residences between May 1, 2010 and December, 31, 2010, or who close escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit. This credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under the bill, purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state). Buyers also must be at least 18 years old and be unrelated to the seller. First-time buyers are defined as those who have not owned a home in the past three years.
To learn more about the California Home Buyer Tax Credit, click here.
http://www.car.org/governmentaffairs/stategovernmentaffairs/homebuyertaxcredit

The Best Ways to Conserve Water and Save Money

2010-02-26T09:17:00.000-08:00

It’s easy to take fresh water for granted. But as our water bills continue to rise, here are some simple steps you can take to conserve this precious natural resource:

• Turn off the tap. A running faucet wastes 7 gallons of water every minute. Shut off the faucet while you brush your teeth to save at least 1000 gallons of water a year. When washing dishes, turn off water to apply soap, then rinse.

• Fix leaks: Household leaks account for 13% of all home water usage. A single dripping faucet can waste 2700 gallons a year.

• Buy water-thrifty appliances: When you replace your old appliances look for energy efficient appliances. An Energy Star washing machine can save up to 7000 gallons of water per year.

• Rethink the need for a water-hungry lawn and garden. Plants with succulent or leathery leaves usually need less water and most conifers require less than deciduous shrubs and trees.

• If you do have a yard, water it in the early morning or at dusk. Use a water timer to precisely measure the amount you use.

A beautiful yard or potted plants on a deck can provide you with hours of enjoyment and enhance curb appeal when it is time to sell. Please call or email us with any real estate questions or needs.

IRS Clarifies What's Needed to Claim Tax Credit

2010-02-22T09:19:00.000-08:00

The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.

While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.

The IRS clarification says: "In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. … The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return.”

For repeat buyers, the IRS is seeking documentation that home buyers have lived in the previous property for a consecutive five of the past eight years. Proof can include property tax records, home owner insurance records, or mortgage interest statements.

Source: Washington Post (02/20/2010

Easy Ways to Make a Move Less Stressful on Your Pets

2010-02-19T11:37:00.000-08:00

Because we are so close to our pets, they often become very sensitive to our stress levels. When we are packing to move or even take a vacation, our pets will be more stressed than usual. When packing, it helps to remove pets from the area to minimize stress, fear and possible harm.

Here are some tips for traveling to your new destination with your pet:

• Carry your pet's current health certificate and rabies tag

• Make sure your pet has a collar with current contact identification

• Have any of your pet’s medications handy and make sure it is protected from fleas and ticks

• Bring your pet’s bedding, food and water bowls, a litter box and favorite toys

• Keep fresh water available at all times

• Maintain good air circulation; use your air conditioner if necessary

• Stop for an exercise and potty break at least every three hours

• Never leave your pet alone in the car on a warm day

Call or email us if you have any questions. We are always happy to help you, you family and friends with any real estate related needs.

How to Make Rooms in Your Home Look Larger with Lighting

2010-02-12T13:05:00.000-08:00

A bright and well-lit home can dramatically change the mood of your home and help you feel relaxed and comfortable all year long. Here are some tips to lighten up your home and make the rooms look big and inviting:

• Choose different types of lighting to avoid the expense of installing windows or skylights. Lamps or other accent lighting can make a dull room appear elegant or small rooms seem larger.

• If you have a room with a dark wall or a narrow, dark hallway, hang a group of pictures and light them with adjustable halogen track lighting to create the effect of a photo gallery.

• Paint ceilings a light color to avoid making them seem lower than they are and give the room a cramped feel.

• Use color to add cheer to a room. Pink and green tones have a calming effect while darker colors, such as red, tend to cause agitation. Neutral wall tones create a harmonious environment. Bright colors should be used as accents in pillows, artwork or flowers.

• When selecting paint, tape large color chips together on a wall to get a better idea of the shades you like. When you’ve narrowed your choices down, buy a quart of 2 or 3 colors and paint 1 or 2 foot squares next to each other on both shaded and brightly lit walls. Choose the color that looks best in both kinds of light.

Call or send us an email if you’d like the names of decorators, contractors, or other service providers.

A Different Kind of Garage Sale

2010-02-01T20:32:00.000-08:00

Instead of having a traditional garage sale, perhaps you should consider putting your garage sale online. Free online classified ads like Craig’s List or fee-based auction sites like eBay make it easy to do. Here’s how:

Take your time: The beauty of an online garage sale is that you don’t need to sell all your unwanted belongings at once. Instead you can post them online as soon as you decide to get rid of them.

Price it right: Search online to learn prices of comparable items and price yours to sell if you don’t want to be stuck with them later on.

Use pictures: Use a digital camera to take shots of your items. One picture is worth hundreds of words of description. Provide written descriptions, including dimensions and be sure to indicate any defect or areas of wear or damage.

Payment: Items listed on local classified sites like Craig’s List are usually paid for as cash at delivery on a first-come, first-served basis. Winning bidders on auction sites like eBay use PayPal to pay with their credit card. Setting up an account with PayPal is free and easy.

Shipping: Auction sites let you specify a flat rate for shipping or allow buyers to compute and pay for shipping costs. Craig’s List buyers will pick up their purchase from you once you’ve both agreed on the price so there are no shipping costs at all.

By getting rid of unwanted items through an online garage sale you’ll make your home feel more spacious and have fewer items to pack if you decide to make a move.
Please call or send us an email if we can answer any real estate related questions. We appreciate the opportunity to be your real estate resource.