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Making the Summer Move

moving company san luis obispo caWith the kids out of school, it’s no wonder that summer is the most popular time of year for families to move. Here are some tips to offer your clients as they prepare to move to a new home during the summer months. With some advance planning, they will be able to spend less time moving in and

This will help you remain calmer and complete the unpacking process more efficiently. If you are unable to make any childcare arrangements, set up a room designated for the kids so they have their own space out of the way of the movers.

7. Mail. Notify the U.S. Postal Service about your change of address so your mail gets forwarded in a timely manner.

8. Utilities. Always call ahead to make sure that the utilities to your new home have been activated. You don’t want to learn this lesson the hard way as you move in to a new house only to find yourself staring longingly at the A/C unit and ceiling fans, as you wait for your utilities to be turned on.

9. Kids activities and leagues. If you have have kids, its recommended to research the local sports leagues and activities schedules, so the kids can make friends and feel adjusted before the school year starts.

10. Meet your neighbors. Introduce yourself right when you move in. An advantage of moving in the summer is that your neighbors are more likely to be outside, and you have more opportunities to meet them. They will be great resources to learn about local restaurants, shopping, activities, leagues and school information.

Housing advice from Moms

I love MomMoms are the greatest. Although many moms are working today, they are still run the roost at home and have the best advise when it comes to home ownership. In honor of Mothers Day, Century 21 Hometown Realty celebrates the wisdom of mothers. Here is advice that we were able to locate from Moms.

How much can you afford?

Lenders like PrimeLending, our mortgage partner play a significant role in home ownership. They will pre-qualify you for a home loan so you know how much the bank believes that you can afford. If you are pre-approved for a $300,000 loan, mom’s advise is to look at homes for $250,000.  This leaves a cushion for the unknown.

Another mom suggests buying a home as if you only have one income. Being house poor is never a great situation, especially in today’s sluggish job market. Most job seekers are in the market for 6 months today, so make sure you have some savings to manage the possibility of employment challenges.

Buy Smart!

Century 21 Hometown Realty is one of the few companies that offer consumers the ability to do deep level of research on your home purchase. Take a close look at the neighborhoods where you want to live. Give consideration to the market conditions in that neighborhood. If possible, avoid neighborhoods that have a lot of foreclosures or a lot of homes for sale – this signals a fragile marketplace where your home purchase could include a lot of downside risk.

Pick the right real estate agent and spend time with them to understand the real estate market. This is true for buyers and sellers. Take the time to look at lots of homes that are priced in your price range to understand what other buyers and sellers are looking at. Century 21 Hometown Realty agents have access to a market analytics tool called REALTORS Property Resource. Ask your agnet for an RPR report before you buy or sell a home.

Don’t Forget the 首页 Inspection

It really does not matter if you are buying a new home or a used home, the home inspection is really important. Ask questions about the cost of irrigation, the cost of landscaping. Find out how old the heating and ventilation is and who the service provider is. Take a close look at the roof. When was the home last painted?

Here in California, rodents and termites can do a lot of damage. Moms say that they would have delayed listing their home for sale if they had done an inspection before listing their home. Sometimes the price you list your home for does not account for repairs that are needed before the transaction closes.

Thanks Mom!

Happy Mothers Day.

View More Home Buyer Resources

View More Home Seller Resources

How to adjust your underwater mortgage

HARP 2.0Bakersfield’s real estate bust was certainly one of the worst in the country, and because of that, many homeowners have faced real challenges when evaluating the mortgage on their home. To a lesser extent, there was also plenty of pain felt by homeowners along the Central Coast too. Underwater homeowners wistfully listen to radio ads boasting refinances with ‘record low interest rates’, knowing that taking advantage of those rates in a refinance is simply out of the question.

Compounding an already impossible problem, some homeowners also have an Option ARM that has reset, or is about to.

"(《世界人权宣言》) Federal HARP (首页 Affordable Refinance Program) was announced in early 2009, but few were able to take advantage of the program and one of the primary challenges were the limitations around loan-to-value requirements.

Simply stated, if your mortgage was more than 125% of your home’s current value, you were simply out of luck. And, in many places in Bakersfield’s housing market, we’ve seen as much as 50% of property values simply disappear.

Who Is Eligible for HARP 2.0 Refinance

Reach out to your lender for specific questions or contact our mortgage partner, Prime Lending. Here are some of the things you’ll want consider to determine whether or not you might be eligible for a HARP Refinance are the following:

  • You cannot have made more than one late payment in the last 12 months, and none in the last 6 months
  • The loan amount cannot exceed current conforming loan limits. California’s upper conforming loan limit is $625,000.
  • Your existing loan closed prior to May 31, 2009.
  • You’ve not done a HARP refinance. If you took advantage of HARP 1.0, you are not eligible for HARP again.
  • Second mortgages are allowed, but the second must approve.
  • Second homes and investment properties ARE eligible.
  • You may not use HARP if you have an FHA loan. For those homeowners, try the FHA Streamline Refinance Program.
  • There is 105% loan-to-value limit if HARP is used to refinance an adjustable rate mortgage or an Option ARM. If you need help with understanding what your valuation is, do not rely on Zillow – it is very inaccurate. 联系方式 a Century 21 Hometown Realty Agent.
  • Loan is guaranteed by Fannie Mae or Freddie Mac. This is has nothing to do with who you make your mortgage payments to. To find out if your is guaranteed, check Fannie Mae and check Freddie Mac.

I know this is some downright gripping reading, but I suspect if you are one of the homeowners that can benefit from a HARP refinance, you may very well be on the edge of your seat. If you have questions, if you are curious about your eligibility, don’t hesitate to reach out to us. If we don’t know, we’ll point you in the direction of the lenders we trust to help you get to the bottom of it.

 

Foreclosure rates drop nearly 15% in San Luis Obsipo County

Here is another great sign of economic stability and home ownership stability in San Luis Obispo County. According to CoreLogic, The Foreclosure 12 – Month Percentage shows the percentage change in home foreclosures in San Luis Obispo County. CoreLogic records this data from banks and public record sources.

Foreclosure Rate in Decline for San Luis Obispo County
Data from CoreLogic

 

 

 

 

 

 

 

 

 

 

Century 21 Hometown Realty has been working with consumers on short sales and with banks to liquidate foreclosed properties for the past 5 years. It is with a deep sigh of relief that we see stability returning to the marketplace. With every foreclosure is a family that is being asked to move – something that breaks our hearts and the hearts of our community.

There are many economists that are theorizing what caused the turn around in housing, but in reality – it is likely a combination of many factors: low interest rates; changes in lending standards; population expansion, government policy, and so on. For us here on the central coast, we see inventory as the driving factor. As you can see from this next graph, there have been fewer sales.

 

Corelogic Sales Reporting

 

 

 

 

 

 

 

 

Century 21 Hometown Realty is actively seeking listings to fulfill our buyer requests. If you are thinking of listing your home for sale, please contact one of our agents immediately. To learn more about our programs for sellers, please check out this information.

Here is a quick snapshot of real estate trends in a town like Arroyo Grande. If you would like these trends for your area, contact any of our offices or agents today.

Arroyo Grande Market Data
Arroyo Grande Public Record data from CoreLogic ePropertyWatch

Aiming to sell takes focus

Aiming to SellWhen selling a home in an unfavorable market, it can be hard to face some facts. Most likely, your home will not command the price you want. It might be hard to cut your losses and move on. And you may find you have more emotional ties to selling your home than logical ones.

Such feelings are not a surprise, says retirement expert Jan Cullinane, author of “The New Retirement: The Ultimate Guide to the Rest of Your Life.” Business decisions often are more emotional than we realize. But understanding some basic theories of behavioral economics—how psychology affects economic decision-making—can help us all make better financial decisions.

“Leaving a home can be very emotional,” Cullinane says. Yet, she adds, when we need to sell a home in a down market, we need to understand the obstacles and the behavioral economic factors so we can cut the emotional ties.

“We’re much more emotional, like Homer Simpson in our thinking, rather than logical like Spock from ‘Star Trek,’” Cullinane says. “When it comes time to sell our home, it helps if we are aware of these factors and how we think.”

Being aware of the following behavioral economic concepts help with this difficult decision-making:

Status quo bias. “It’s easier to do nothing than to do something,” Cullinane explains. People don’t want to change things unless there are compelling reasons.

Loss aversion. In this market, you may have to sell your home for less than you thought. On the flipside, when you buy your next property, you’re likely to buy it at a discount. But that doesn’t always make us happy. “We feel worse about a loss than we feel happy about a gain,” Cullinane says. Recognizing our loss aversion can help us come to terms with the loss and appreciate the gain.

Endowment effect. “We put a higher value on something we own than on something we don’t own,” Cullinane says. The endowment effect can create a roadblock when putting a home on the market. It also means that others won’t value our home the same way we do.

Anchor. We all have an “anchor”—a fixed price for which we think our home should sell—and we don’t want to sell it for less than that amount. Often, our anchor is based on what we paid for the house and what we feel it should be worth now, even if market conditions have changed dramatically. We need to get past that emotional anchor. “Let’s face it, your home is worth what someone is willing to pay for it,” Cullinane says.

Sunk costs. When we have put money into something that we can’t get back, we have a tough time cutting our costs and moving on. For instance, if you remodeled your deck, you may not be able to recoup that money when you sell. You need to realize that money is a sunk cost—it already has been spent and you won’t get it back—and move on.

If you’re retiring, or moving for other reasons, it helps to realize that your home is not worth now what it once was. Those high sales prices aren’t coming back any time soon, but you can get a good deal on a new purchase.

“Knowing that you feel worse about a loss than you feel happy about a gain—and recognizing that intellectually—goes a long way to getting over that emotional hurdle,” Cullinane says. “Knowledge is power.”

This article originally appeared on the Equifax website. http://blog.equifax.com/real-estate/when-selling-a-home-end-the-emotional-ties/

Preparing for a Home Inspection

For buyers and sellers alike, home inspections are a crucial part of the home-buying and -selling process. While setting up a home inspection once you have an offer on your home is an important piece of the puzzle, taking the time to prepare for the inspection can be just as essential. 首页 sellers who take the time to get ready for the inspection will pave the way for a smoother inspection and, therefore, a smoother transaction. The good news is that preparing your home for inspection doesn’t have to cost a lot of money, as the items that need to be addressed are things that homeowners typically take care of on a recurring basis.

Preparing for a home inspection doesn’t have to be a huge expenditure.  The most important thing to keep in mind is timing.  Taking the time to prepare your home for inspection is crucial for sellers who have an offer on their home, as this signals a pending home inspection, so they know the buyer and inspector are coming to the home.  Once the inspection is scheduled, sellers should plan to spend the week before the appointment getting the home ready.

"(《世界人权宣言》) home is examined from top to bottom, both inside and out. While the inspector will look at and evaluate more than 1,600 items inside and outside the home, including its systems and structural components, there are numerous small things the seller can do beforehand to make the job easier on everyone involved. The most important items that should be addressed prior to the inspection include:

• Clearing all walkways of debris and obstacles so the inspector can easily move around.
• Providing clear access to the attic hatch, which is oftentimes in a closet, so be sure to clear shelves, etc.
• Replacing dirty furnace filters.
• Making sure all lights and receptacles are operational. This includes changing any burnt-out light bulbs.
• Clearing a path in the basement, whether it’s finished or not, so the inspector can walk around the perimeter of the wall.
• Making sure there is access to any mechanicals, such as the furnace, air conditioner and water heater.

Taking care of the little things, like changing burnt-out light bulbs, is a simple and inexpensive way to eliminate any big suspicions that are totally unnecessary. In addition, paying attention to the items above will enable the inspector to access every part of the home that needs to be addressed in order to thoroughly inspect a home and see if there are any issues that need to be taken care of.

卖方 should also consider printing out paperwork that documents any recent service in order to eliminate any mechanical issues.

As we continue to adapt to the “new normal” and make our way through today’s challenging market, home inspections are becoming more prevalent, whether they’re performed once a potential buyer has made an offer on the home or to lay the groundwork for future negotiations before the home is even listed.

No matter what the economy and housing market look like, there is always a sense of worry among potential buyers in regard to what will be found during the inspection.  However, a little preparation goes a long way toward eliminating that worry from the equation entirely.

Not only will taking the time to prepare your home for an inspection be worth it in the long run, it will give buyers peace of mind while eliminating doubt and suspect.  If a home inspector isn’t able to access a specific area of the home, they’ll have to put a question mark on the inspection report, which causes suspicion in the buyer’s mind; and nine times out of 10, there’s nothing wrong. 

Is There Lasting Value in Remodeling Trends?

When you’re spending thousands to remodel a kitchen or bath, you want those updates to last a while.

To help you get ahead of and sort out the kitchen and bathroom trends — pity the last fool to install an avocado appliance in the 1970s. Enjoy your home; remodel so that you love where you live.

Still, with a couple of exceptions, these five kitchen and bath trends offer lasting value:

1. Kitchen cleanliness.

By clean, we’re talking design, not germs. Kitchens are going clean, contemporary, and horizontal (open shelves, long and horizontal pulls, thick countertops). Even in a classic kitchen, go with simple, flat cabinets rather than highly carved cabinet details.

Tip: This is a trend to get on board with. A simple, tidy, fresh appearance will have broad appeal if you decide to sell.

2. Color is out.

This year, colors are cycling out except for black and white used together.

Tip: Practically speaking, black and white are hard to keep looking good. Black kitchens show every scratch and white cabinets show every speck of dirt. Here on the Central Coast and in Bakersfield, natural colors found in the surrounding landscape are the norm – warm browns with a tinge of orange and red.

Regardless, color is fickle; choose what’s best for your space.

3. Dark wood is where it’s at.

If you’ve had white cabinets, you know they show every speck of dirt, which can drive you crazy unless you have a cleaning fetish. Combine those white cabinets with another up-and-coming trend: dark wood. Or if your budget can handle the hit, go with specialty woods like mahogany or zebra wood that can make an island look like a piece of furniture.

Tip: Alternatively, you could invest your money in more kitchen storage and functionality than trendy decorative elements that might not stand the test of time.

4. Appliances that blend in.

The more open our kitchens get, the more we want them to look like the rest of the house. That’s fueling a trend away from the big pro range and ginormous stainless-steel refrigerator and toward concealed, high-performance refrigerators and dishwashers. Induction cooktops, which use less electricity than electric cooktops, are growing in popularity.

Tip: When you buy appliances, look for the Energy Star label or go even deeper on energy performance ratings with Consortium of Energy Efficiency. California also has had a history of offering rebates. Check with the retailer for information.

5. Ageless design gets easy.

What the Baby Boom wants, the Baby Boom gets. And Baby Boomers want to live in their homes forever. That’s led manufacturers to create DIY remodeling products with built-in universal design features — like toilet paper roll holders strong enough to hold your weight as you arise from the throne.

If you wanted a no-threshold shower five years ago, you had to have it fabricated as a custom piece. Today, companies sell no-threshold shower kits with trench-style drains covered with grills so you can roll yourself right in. Visit 首页 Depot or other building supply store for examples.

Tip: We love the trend to universal design-ready remodeling products. To get started, check out anti-scald valves.


Hard Water is Harsh on Appliances

 Most Americans have hard water flowing through their plumbing, and it’s taking a silent, but pricey toll on their water-using appliances and pipes.

“If you think you’re not affected, think again: 85 percent of Americans have hard water,” says Angie Hicks, founder of the website dedicated to consumer reviews of contractors and service companies. “Water with a high mineral count is really hard on your appliances and can take years off their useful lives.”  Hicks advises that homeowners watch for the following red flags to see if their water is an issue:

  • Reduction in supply of hot water from a traditional tank water heater
  • Clothes are dingy or unclean after going through the washer
  • Calcium rings or deposits in tubs, sinks and dishwasher
  • Shower head and faucet clogs
  • Spotty or unclean dishes, glasses and flatware after the dishwasher has run
  • Water pipe leakage

Determining if you have hard water is simple and relatively inexpensive to address. Step one is to have your water analyzed, says Hicks. Some utilities and health departments offer this service, but companies that specialize in water conditioning also offer it, often free-of-charge. Because those companies have a vested interest in the outcome of such tests, consumers should consider getting at least one outside opinion.

Consumers have a few options when it comes to removing calcium and magnesium, the troublesome minerals that make water hard. Traditional water softeners use salt to remove those minerals. Devices that do not use salt to accomplish the same thing are often called “water conditioners” or “descalers.”
Here are Angie’s List tips for buying a water softener:

  • Water softeners can range from a few hundred dollars to more than $1,000 depending on size and type. Some companies offer rental equipment for a nominal monthly charge. Installation typically runs $150 to $300.
  • Before you buy a water softener or conditioner, research available products and service companies. Insist on a money-back guarantee.
  • In most states, installation does not require a licensed plumber. At a minimum, use a company with technicians certified by the Water Quality Association.
  • Understand and follow the maintenance required to keep the unit operating properly.

Simple Tips to Increase Your Central Coast Curb Appeal

Have you been wanting to change the look of your house but aren’t sure what you can do to increase your curb appeal? Handyman Connection, one of the largest networks of home repair and remodeling contractors in North America, has released a few home improvement ideas to help you enhance the street view of your home.
The front door is the gateway to your home and can often be an easy and inexpensive way to add a different dimension to your home’s curb appeal. You can paint your door a different color to accent the exterior paint on your house or you can get an entirely new door. Pick a color that stands out from the rest of your house but a color that also meshes well with the rest of your color scheme.

Painting or re-painting your house is a great way to drastically alter your home’s curb appeal and it may be the perfect option if you want to give your house a brand new look. Give your exterior walls some flair by picking a color different than what was previously on your house and accentuate it by finding a nice color for the trim as well. Don’t wait too long to paint your house because that could make the job much more difficult; you should paint before the previous coat begins to show signs of wear and tear.

Fencing around your yard is a great way to increase your home’s appeal. A small white-picket fence is a simple way to give your house a nice, cozy look. Putting up a fence on the sides of your yard is a practical way to increase your privacy and your curb appeal at the same time.

Adding a deck or a wing to your deck could be perfect if you like to spend time outside and also want to increase your home’s curb appeal. Adding a wing to your deck is easier than enlarging it and gives you two areas to gather instead of one. Painting or staining your deck is crucial to adding the curb appeal you seek, so dedicate a weekend or two every other year where you or a professional handyman can make your deck look good as new.

Five ways to instantly add curb appeal to your home

住宅

WASH THE HOUSE

Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the outside of your house. REALTORS® say washing a house can add $10,000 to $15,000 to the sale prices of some houses.

A bucket of soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto your wood, vinyl, metal, stucco, brick, and fiber cement siding. Power washers (rental: $75 per day) can reveal the true color of your flagstone walkways.

Wash your windows inside and out, swipe cobwebs from eaves, and hose down downspouts. Don’t forget your garage door, which was once bright white. If you can’t spray off the dirt, scrub it off with a solution of 1/2 cup trisodium phosphate—TSP, available at grocery stores, hardware stores, and home improvement centers—dissolved in 1 gallon of water.

You and a friend can make your house sparkle in a few weekends. A professional cleaning crew will cost hundreds—depending on the size of the house and number of windows—but will finish in a couple of days.

CHECK AND CLEAN THE ROOF

The condition of your roof is one of the first things buyers notice and appraisers assess. Missing, curled, or faded shingles add nothing to the look or value of your house. If your neighbors have maintained or replaced their roofs, yours will look especially shabby.

You can pay for roof repairs now, or pay for them later in a lower appraisal; appraisers will mark down the value by the cost of the repair. According to Remodeling Magazine’s 2011-2012 Cost vs. Value Report, the average cost of a new asphalt shingle roof is about $21,200.

Some tired roofs look a lot better after you remove 25 years of dirt, moss, lichens, and algae. Don’t try cleaning your roof yourself: call a professional with the right tools and technique to clean it without damaging it. A 2,000 sq. ft. roof will take a day and $400 to $600 to clean professionally.

CLEAN THE YARD

A well-manicured lawn, fresh mulch, and pruned shrubs boost the curb appeal of any home.

Replace overgrown bushes with leafy plants and colorful annuals. Surround bushes and trees with dark or reddish-brown bark mulch, which gives a rich feel to the yard. Put a crisp edge on garden beds, pull weeds and invasive vines, and plant a few geraniums in pots.

Green up your grass with lawn food and water. Cover bare spots with seeds and sod, get rid of crab grass, and mow regularly.

ADD COLOR THAT POPS

Even a little color attracts and pleases the eye of would-be buyers.

Plant a tulip border in the fall that will bloom in the spring. Dig a flowerbed by the mailbox and plant some pansies. Place a brightly colored bench or Adirondack chair on the front porch. Get a little daring, and paint the front door red or blue.

These colorful touches won’t add to the value of our house: appraisers don’t give you extra points for a blue bench. But beautiful colors enhance curb appeal and help your house to sell faster.

FIX EVERYTHING IN SIGHT

Nothing looks worse from the curb—and sets off subconscious alarms—like hanging gutters, missing bricks from the front steps, or peeling paint. Not only can these deferred maintenance items damage your home, but they can decrease the value of your house by 10%.

Here are some maintenance chores that will dramatically help the look of your house.

  • Refasten sagging gutters.
  • Repoint bricks that have lost their mortar.
  • Reseal cracked asphalt.
  • Straighten shutters.
  • Replace cracked windows.
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