Archive for June, 2010
Summer Staging Tips
June 24th, 2010 categories: Sellers
- Highlight your patio. Clean or paint your decking if necessary, and make any necessary outdoor repairs. No deck? Arrange chairs or outdoor furniture in your yard to create the illusion of an outdoor room.
- Play up the pool. A pool is a huge selling point during the sweltering days of summer. Keep yours clean and debris-free, and create a seating area near the pool where buyers can imagine themselves floating through the cool water.
- Provide refreshments. Even though you likely won’t be home for a showing, greet buyers like you would party guests. During the dog days of summer, set out a cool pitcher of lemonade for buyers. Anything you can do to make them linger a little longer can only help you sell!
If you’d like more tips on summer staging or need assistance selling your home, please feel free to call or email me for a free consultation. Also join us on Facebook to let us know you like our articles and blogs. I look forward to connecting with you!
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10 Tips to Rebuilding after a Bankruptcy
June 22nd, 2010 categories: Money and Mortgages
As a rule of thumb, bankruptcy is the least desirable option available to you when your finances have gotten out of control. However, if your finanacial situation has been going downhill for an extended period of time, your credit standing is probably so bad that filing for bankruptcy really won’t do much to make it worse, with one exception: A bankruptcy remains on your credit report for 10 long years. With this in mind, creditors will know that once you file bankruptcy, you cannot do so again for seven years.
If you or someone you know want to start rebuilding your financial life after bankruptcy, here are 10 Tips courtesy of consumer credit experts Approval Guard.
1. Plan your credit recovery. Take it slow and easy, do it right and don’t exceed what you can afford.
2. Learn more about how credit works through the Internet, counseling services or a service. Do it right and know what you’re doing.
3. If your credit report contains inaccuracies about debt that was discharged through your bankruptcy, contact the creditor or the credit bureaus to request a correction.
4. If you didn’t have enough savings to survive a setback, get serious about savings for an emergency fund. In the current economy you need at least 12-16 months.
5. If your problem was overspending, create a written budget and stick to it.
6. If your problem was related to medical bills, seek out a solution for insurance.
7. To re-establish a strong credit profile, you need a good history of payments from credit cards and installment debt such as autos, student loans or a home loan.
8. The rebuilding process requires you to use credit responsibly. Use only a small portion (30% or less) of your available credit line and ensure you make a payment every month.
9. When you start to re-establish your credit, consider a “secure” credit card. Such cards are usually backed by your savings account or money you place in escrow to cover 100% of your credit line in case you don’t pay your payment.
10. You may be able to apply for a home loan in as little as two years after the discharge of your bankruptcy, however, expect to pay higher fees and interest rates.
When you are ready to rebuild, make sure you understand credit and how to use it responsibly. Feel free to email me for further information and please forward these tips to family and friends to keep them in the know as well.
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Father’s Day Catch at Dodger Stadium
June 18th, 2010 categories: Upcoming Community Events
The Los Angeles Dodgers invite families on to the field at Dodger Stadium for the seventh annual Father’s Day Catch on June 20, 2010. The event, which will be held from 10:00am to 1:00pm, is free and provides families with the opportunity to play catch at Dodger Stadium in celebration of Father’s Day. Dodger partner Farmer John is donating Dodger dogs for the occasion, Sparkletts will provide water bottles and Coca Cola will supply PowerAde.
Fans can park for free at Dodger Stadium on Father’s Day. The Sunset Gate opens at 10am and families will enter through the center field gates. Music, merchandise, the Dodger Ticket truck and Dodger fan clubs will be on site for the event. The first 3,000 fans in attendance will get a complimentary Dodger dog!
So kids big and small, take your Dads out to the Ball Game! If you like this and other similar posts, please follow the link on the left and let us know you like Kathy Villa Real Estate. We look forward to connecting with you!
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What Makes For a Winning Offer?
June 3rd, 2010 categories: Buyers
Making an Offer.
1. Get pre-approved. Before writing an offer -and ideally before you even begin your search, meet with your bank or other financial advisor; the one who will be giving you your mortgage, and get pre-qualified or pre-approved. When it’s time to put forth an offer, the seller will know it’s serious.
2. Understand the local context. List prices are often subjective. Look to Kathy Villa for advice on pricing strategy. In the end, it’s important that you know the real estate situation yourself to determine if the property is fairly priced, based on comparable, recently sold properties. There’s no rule of thumb that says going in under asking is expected. Market conditions will dictate the selling price. Keep in mind that homes will also occasionally be under-priced to attract multiple offers. This circumstance may call for a bid over the initial asking price.
3. Understand and adjust to the seller’s interests. Asking the right questions prior to writing an offer can often make the difference between an accepted offer and a stalled negotiation. Some contract terms may be of great significance to the seller, and only a slight inconvenience for you. Should the seller want to rent the place back, for example, for a few days or weeks after escrow, your written flexibility on the move out/in date could close the deal in your favor.
4. Make a strong deposit part of your offer. You’ll want to submit an earnest money deposit when writing an offer, payable to a reputable escrow company, to be delivered by your agent no more than three business days after the acceptance of the offer. Even when delivering an offer below asking price, offer a large deposit if possible, and it will pay dividends in the end. Down payment strategies however may vary. In some areas, a smaller deposit is the norm. Regardless of location, a higher deposit will most likely strengthen your negotiating power.
5. Provide an appropriate time for the seller’s response. Time is of the essence once you decide to take the plunge, especially regarding a newer listing in which the risk is high that other buyers will potentially submit offers. Typically, the seller is given until 5PM on the third day from receipt of the offer to respond, unless you write in a different date and time. If the offer is strong, speed up the response time. Kathy Villa can advise you on what strategy will work best.
If you need help or know someone who needs an experienced Real Estate Agent to help them submit a winning offer, feel free to have them call or email me. Also please let us know if you like Kathy Villa Real Estate by following the link on the left. We look forward to connecting with you!
Courtesy of BHG Real Estate.
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