September is almost here and we have been feeling the heat in LA!
The ocean has been especially warm these last few weeks so it's a great time to sunscreen up and hop in! I like to go to the Pacific Palisades and park on Temescal to walk down to the water, or pop down to Venice and walk around the canals.
Labor Day is this weekend so there may not be as many Open Houses as Angelenos don white pants for the last time and rush the beaches. If you can get your beach time in before the weekend- definitely try! After this weekend, perhaps PCH and the beaches will have less traffic? Let's hope!
If you're out looking at houses on the Westside, keep in mind that inventory is incredibly low and there are quite a few Buyers out and about (Check out this video featuring Joe Light which talks about the lack of inventory, and the Housing Market Recovery!) Once you decide you're ready to purchase (or almost ready!) get to a lender and get Pre-Approved for a loan. Being Pre-Qualified does not mean much in the Westside Los Angeles market these days- you need to know exactly how much you can spend, and the Seller of the home you fall in love with will want that assurance as well. Since there are so few properties on the market- you want to be prepared to put an offer in as soon as absolutely possible after you've seen your dream home. If you still need to get your funding ducks in a row- chances are, someone else will snap it up.
Joe Light talks about the Real Estate Recovery, and comments on Warren Buffet's
TODAY'S TIP: It seems counterintuitive but now is the BEST time to have your heater serviced and your chimney cleaned. As the air starts to cool and people begin switching from AC to heat, all those heating technicians get busy! Better to get in and get everything cleaned and prepped for winter (and who knows... maybe keep an eye out for specials or deals).
Wednesday, August 29, 2012
Monday, June 11, 2012
LA Times talks Home Sales
The Los Angeles Times featured as it's top story this weekend a commentary on the current housing market in Los Angeles. Citing the Census Bureau, Redfin, the National Association of Realtors and several others, writer Alejando Lazo brings to light what every agent and anyone currently in the market is experiencing: we are in a very unique time in the housing market.
Buyers are enjoying the benefits of record-low interest rates and prices well below they saw during the peak, and Sellers are seeing an extreme lack of inventory which is, in many cases, leading to multiple offers (on the Westside we have seen many properties with over 15 offers, and a few properties with over 30!!).
So if you are a Buyer- please expect to see a LOT of people at every open house you attend, and understand that you must be ready to move quickly if the right property comes along! All cash is usually best to a Seller, if you can swing it, but if you need to go with financing- interest rates are at an all-time low so make sure to get PreApproved (not PreQualified) to put yourself in the best position possible for the Sellers to consider you a serious Buyer!
Tip of the Week: Get a duster, a rag and/or some polish and get to work cleaning those banisters! If you do not have banisters in your house- you definitely have window sills and I bet they'd love a nice scrub before they are opened all summer long! Consider using a homemade formula of vinegar and water, or something natural you find in the grocery store like Nellie's brand products to keep toxins out of your house! Feel free to take a look at these Great Options!
Buyers are enjoying the benefits of record-low interest rates and prices well below they saw during the peak, and Sellers are seeing an extreme lack of inventory which is, in many cases, leading to multiple offers (on the Westside we have seen many properties with over 15 offers, and a few properties with over 30!!).
So if you are a Buyer- please expect to see a LOT of people at every open house you attend, and understand that you must be ready to move quickly if the right property comes along! All cash is usually best to a Seller, if you can swing it, but if you need to go with financing- interest rates are at an all-time low so make sure to get PreApproved (not PreQualified) to put yourself in the best position possible for the Sellers to consider you a serious Buyer!
Tip of the Week: Get a duster, a rag and/or some polish and get to work cleaning those banisters! If you do not have banisters in your house- you definitely have window sills and I bet they'd love a nice scrub before they are opened all summer long! Consider using a homemade formula of vinegar and water, or something natural you find in the grocery store like Nellie's brand products to keep toxins out of your house! Feel free to take a look at these Great Options!
Thursday, May 31, 2012
Almost June!
It's almost June and we are ready to welcome Summer with some exciting news for homebuyers, and homeowners looking to refinance their homes! According to Zunaira Zaki of the Yahoo News team, mortgage rates are reaching new record lows! Most astoundingly, a 15 year mortgage rate is being offered at 2.97%!!
Of course it can be difficult to find or obtain these loans, and near perfect credit is a must, but they are out there! If that isn't a good reason to pack up and
This week I'd also like to talk about the importance of a good Escrow Officer. California handles the Escrow process differently than many other states in that we employ an independent company we call an Escrow Company to act as liaison between Buyer and Seller in the transfer of documents, funds, etc. (For a very lengthy and in-depth look at Escrow Companies check out this Department of Real Estate resource HERE).
As you run around this summer looking for houses, or just enjoying your time outside- make sure to continuously apply sunscreen! Consumer Report issued a statement recently on the best and worst sunscreens to keep an eye out for.
BEST BUYS:
- No-Ad lotion with aloe &vitamin E, SPF 45, $.59/ounce
- Walgreens continuous spray sport, SPF 50, $1.30/ounce
- Coppertone oil-free foaming spray, SPF 75+, $1.67/ounce
WORST CHOICES:
- Alba Botanical natural very emollient sunblock sport, SPF 45
- Banana Boat Kids tear-free, sting-free, SPF 50+
Tuesday, May 8, 2012
This might be the week we get to peek through the May gray and enjoy the sunshine LA is so famous for!
As summer approaches, I hear friends and relatives from around making plans to come vacation in Southern California and I am reminded that we live not only in one of the largest business hubs in the country-but a vacation spot as well.
My New Year's resolution was to see 30% more sunsets than I did last year. Seems silly and a little trite- but I think it is a good reminder for me to take a moment and really enjoy what brought me to this wonderful city.
An agent in my office was showing his property in Malibu to some potential Buyers this week and was treated to an enormous surprise! As they gazed through the floor to ceiling windows out at the ocean, they spotted two whales were playing right outside! The beauty and (forgive the flowery terms) majesty of these creatures was unbelievable. To have the ability to see whales out your window in your own home- there is no denying we are truly fortunate to live here.
So rather than taking a moment this week to complete a chore or household duty- take a minute to walk to the pier in Santa Monica, enjoy the canals in Venice, have a picnic in Malibu or go enjoy the Observatory.
We live in one of the most beautiful and vibrant places in the country- let's enjoy it!
Tuesday, March 20, 2012
Spring has sprung!
Spring has officially arrived- and right in the middle of a cold snap!
With this weekend's rain (and hail in some areas) expect a good deal of traffic at next weekend's open houses! There are a lot of Buyers out there with not a ton of properties to choose from. Now is a time where it is absolutely essential to be ready to act quickly if something you like comes available.
That means...
-Figure out an area you would like to purchase in
-Find an agent you trust who knows the area
-Get a pre-qualification letter (or better yet, a Pre-Approval) from your lender. This is crucial because what you feel comfortable spending may not be what the bank feels comfortable with you spending! We are in a period of conservative lenders, and as such expect banks to be cautious.
-Keep your finances in place as much as you can and try not to open new credit cards or move monies around.
-Attempt to be flexible in your schedule-- if your agent calls you and says a new property is on the market and looks like something you are interested in (s)he may try to get you in before the Open House. This is for your benefit- we are seeing many occasions where there are 3 or more offers on a property before it has even had an Open House! Your agent is working hard to schedule you in and get you a chance to make an offer that will be seriously and carefully reviewed- before the masses pour in! :)
Most importantly, know that your Agent is here to help you and can be an invaluable resource. I get calls from clients looking for a trusted plumber years after they have purchased their home. Most agents can refer you to a good agent in another city or state if you have a family member moving. We know appraisers, moving companies, roofers, lawyers and people from all walks of life- chances are we can connect you with someone you'd like to connect with. We are happy to answer questions and try to be as accessible as possible- and we are always happy to hear from you.
Lastly, I'd like to share a VERY brief article from the MLS regarding interest rates-
Tip of the Week- Spring is here and hopefully we will be moving into some warmer weather! Now is a great time to flip or replace your mattress. There are all kinds of yucky things (Google it if you are interested but prepare to be grossed out) that hide in mattresses, and with the pollen count preparing to skyrocket as we change seasons, do what you can at home to reduce allergens.
With this weekend's rain (and hail in some areas) expect a good deal of traffic at next weekend's open houses! There are a lot of Buyers out there with not a ton of properties to choose from. Now is a time where it is absolutely essential to be ready to act quickly if something you like comes available.
That means...
-Figure out an area you would like to purchase in
-Find an agent you trust who knows the area
-Get a pre-qualification letter (or better yet, a Pre-Approval) from your lender. This is crucial because what you feel comfortable spending may not be what the bank feels comfortable with you spending! We are in a period of conservative lenders, and as such expect banks to be cautious.
-Keep your finances in place as much as you can and try not to open new credit cards or move monies around.
-Attempt to be flexible in your schedule-- if your agent calls you and says a new property is on the market and looks like something you are interested in (s)he may try to get you in before the Open House. This is for your benefit- we are seeing many occasions where there are 3 or more offers on a property before it has even had an Open House! Your agent is working hard to schedule you in and get you a chance to make an offer that will be seriously and carefully reviewed- before the masses pour in! :)
Most importantly, know that your Agent is here to help you and can be an invaluable resource. I get calls from clients looking for a trusted plumber years after they have purchased their home. Most agents can refer you to a good agent in another city or state if you have a family member moving. We know appraisers, moving companies, roofers, lawyers and people from all walks of life- chances are we can connect you with someone you'd like to connect with. We are happy to answer questions and try to be as accessible as possible- and we are always happy to hear from you.
Lastly, I'd like to share a VERY brief article from the MLS regarding interest rates-
Mortgage rates move up, still offer high affordability for buyers
Mar 15 2012 3:40PMA recent report reveals that mortgage rates for the week ending March 15 increased but are still below 4 percent, providing potential buyers and current homeowners great opportunities for purchasing and refinancing.
Freddie Mac's Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage rate averaged 3.92 percent, up from the previous week when it averaged 3.88 percent but is much less than this time last year when the 30-year FRM averaged 4.76 percent.
The 15-year FRM rate was also up, averaging 3.16 percent compared to the week before when it averaged 3.13 percent. Freddie Mac notes that a year ago, the 15-year FRM averaged 3.97 percent.
Additionally, the 5-year adjustable-rate mortgage rate averaged 2.83 percent, higher than last week's average of 2.81 percent and well below this time last year when the 5-year ARM rate averaged 3.57 percent.
While many potential buyers in Southern California have been waiting for rates and home prices to reach their lowest before looking for a home, real estate experts say the market will continue to be in their favor.
Tip of the Week- Spring is here and hopefully we will be moving into some warmer weather! Now is a great time to flip or replace your mattress. There are all kinds of yucky things (Google it if you are interested but prepare to be grossed out) that hide in mattresses, and with the pollen count preparing to skyrocket as we change seasons, do what you can at home to reduce allergens.
Monday, January 16, 2012
New Year- New Ways
So we are well on our way into the New Year and celebrating today one of our historic leaders, Dr. Martin Luther King Jr.
Dr. King embraced change and progress; championing a way forward. While we enjoy a day of relaxation to remember Dr. King and the the changes he helped bring forward we too must progress and embrace change.
This is an exciting time for real estate as we embrace new changes in all aspects of our community. From allowing all members of each community to access lists of Open Houses online, to sites like Zillow and Redfin, to those great QR codes on signs you can scan on your phone and see Virtual Tours and all the details for the home you are standing right in front of- technology is coming and coming quick.
Check out this LINK to see another new technology we are going to be seeing soon- taking a page out of the video game industry's book.
TIP OF THE WEEK- Take down all your Holiday decorations, and properly dispose of anything that is flammable. Many troups of Boy Scouts will collect your Christmas Trees and Hanukkah Bushes for free. In addition, cities like Santa Monica have designated areas you can drop them off to keep them from sitting in your front yard until trash day.
Happy January! Special TIP #2- Now is a great time to go through your sock drawer and empty out any old or mismatched socks. Do you really need them? If it's even a question, the answer is probably no!
Dr. King embraced change and progress; championing a way forward. While we enjoy a day of relaxation to remember Dr. King and the the changes he helped bring forward we too must progress and embrace change.
This is an exciting time for real estate as we embrace new changes in all aspects of our community. From allowing all members of each community to access lists of Open Houses online, to sites like Zillow and Redfin, to those great QR codes on signs you can scan on your phone and see Virtual Tours and all the details for the home you are standing right in front of- technology is coming and coming quick.
Check out this LINK to see another new technology we are going to be seeing soon- taking a page out of the video game industry's book.
TIP OF THE WEEK- Take down all your Holiday decorations, and properly dispose of anything that is flammable. Many troups of Boy Scouts will collect your Christmas Trees and Hanukkah Bushes for free. In addition, cities like Santa Monica have designated areas you can drop them off to keep them from sitting in your front yard until trash day.
Happy January! Special TIP #2- Now is a great time to go through your sock drawer and empty out any old or mismatched socks. Do you really need them? If it's even a question, the answer is probably no!
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