SHOULD I SELL NOW?

The good news is -we seemed to have turned the corner and prices are not only becoming stable but in most neighborhods-increasing. Spring has always typically been the best time to sell but fall could prove to be a great time in 2014. Inventory is down and interest rates are starting to creep up. Many families like to have a new home for the holidays and buyers love decorated homes.
 
If you decide to sell you will still to be competitive with others homes on the market for sale, and that includes price, location, style, amenities and condition.  So if you price the house with others that have newer appliances, roof, windows, furnace, flooring, etc then you would also need to have those features to be competitive.
 
As a seller it may be tough if you purchased in the height of the market but if you are planning on buying a replacement home, as a buyer you will be in a good position to come out ahead.  The past few years were marked by foreclosures and short sales and we witnessed market value losses of about 20%.  While this meant that sellers could not expect as much for their homes asin the past, it also means that sellers who are moving up- their future home may not cost as much as they expected. If you’re planning a move to a higher price range, it should actually be in your favor.  Interest rates are still historically low !
 
If you are planning to move in the next 18 months, then you may want to consider moving now to take advantage of the low interest rates and current low inventory as well as price reductions.  Remember that taxes are also calculated on the price of the homes so lower prices could work considerably in your favor!

Currently in Orange County inventory is declining and in some neighborhoods and price ranges there are actually very few homes for sale! If your home is in one of these neighborhoods it could be a good time to sell-Not much competition!

Set the Stage before listing your home for sale!

Every home for sale is a basically a set stage. Prospective buyers come in and try to imagine living their lives on this particular “stage.” When they feel the stage fits the parts they want to play, you’ve got a sale. Here are some ideas:

• Let the sun shine in. Cleaning windows and opening blinds and drapes automatically make a home look more open, brighter, and more welcoming.
• . Remove the clutter: Old magazines and scattered toys are obvious problems. But just as distracting are the various knick-knacks and collections that people accumulate over time. Pack up the adornments and books on shelves and tabletops by half at least. And, make sure every single framed photo is put away. The finished product is a home that looks more open and spacious, without the strong stamp of the present owner’s life.
• Rearrange living spaces. Sometimes simply repositioning a couch can make a world of difference in a room. Look at traffic patterns and remove obstacles along with excess furniture. Take leaves out of dining tables and reduce the number of chairs. When selling a home, less is more.
• Make sure windows and entryways are not obscured by overgrown shrubs. Otherwise, you’re hiding the home from the street as well as reducing the light that comes in.
• Invest in the future. You might consider investing 1/2 of one percent of the home’s asking price in staging. Then use that money to paint tired walls, remove out-of-style wallpaper, or store worn out furniture and bring in rentals. The money invested can actually reap returns of 200% or more.
• Don’t let a house sit totally empty. A silk plant, simple chair and occasional table can ad a lot of character to an empty room.
• Go professional. If you’re not comfortable making decorating decisions and you think you need serious help, hire a professional decorator who understands the ins and outs of staging a home. It brings fresh eyes and ideas into play.

Before putting your home on the market:

* Get rid of clutter in every area—closets, attic, storage, kitchen cabinets, drawers, bath vanities, shelves-everywhere. You will pack up for your move anyway, so just think of it as starting early.

* Position mirrors in the right places to make a room appear larger. Make sure the mirrors reflect what you want to see more of, such as a favorite painting or a lovely window.

* Choose a light color scheme to help open up a room. White, cream, pearl gray, or soft yellow seem more inviting and open because they reflect light.

* Bulky furniture and too much furniture makes a rooms look too small. Have a moving sale or just store things in the garage or storage.

Part of my expertise is in helping sellers get their home ready for the market and I can offer some simple inexpensive tips to maximize your selling potential. I'd be happy to stop by and share some thoughts with you on how you can stage your home to obtain top dollar. Sometimes it can be as simple as moving or removing furniture and paint that can make all the difference!

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Property Tax Schedule

The first half of  Propety Taxes are due and payable on November 1st. and become delinquent after December 10th 
 

JanuaryFebruary	March
January 1st Assessment Due DateFebruary 1st  2nd Installment Property Taxes Due Date	March 1st Taxes on Unsecured Roll Due

 
 

AprilJune	July
April 10th  -2nd Installment Property Taxes Delinquent Date April 15th Last day to file Homeowner's, Veterans, and Senior Citizen Exemptions June 1st - Beginning of Fiscal Year to June 20th of the following year	July 1st -Properties with delinquent taxes sake to the state  July 1st - Homeowners to be informed of new values July (First Monday)- Assessment Appeals Board July 30th - Last day to advise Homeowner's of New Values

 

SeptemberOctober	November
September (mid-month) -Tax Rates SetOctober (last week) -Tax bills are mailed	November 1st -First Installment Property Taxes Due

Set the Stage before listing your home for sale!

Every home for sale is a basically a set stage. Prospective buyers come in and try to imagine living their lives on this particular “stage.” When they feel the stage fits the parts they want to play, you’ve got a sale. Here are some ideas:

• Let the sun shine in. Cleaning windows and opening blinds and drapes automatically make a home look more open, brighter, and more welcoming.
  . Remove the clutter: Old magazines and scattered toys are obvious problems. But just as distracting are the various knick-knacks and collections that people accumulate over time. Pack up the adornments and books on shelves and tabletops by half at least. And, make sure every single framed photo is put away. The finished product is a home that looks more open and spacious, without the strong stamp of the present owner’s life.
  Rearrange living spaces. Sometimes simply repositioning a couch can make a world of difference in a room. Look at traffic patterns and remove obstacles along with excess furniture. Take leaves out of dining tables and reduce the number of chairs. When selling a home, less is more.
  Make sure windows and entryways are not obscured by overgrown shrubs. Otherwise, you’re hiding the home from the street as well as reducing the light that comes in.
  Invest in the future. You might consider investing 1/2 of one percent of the home’s asking price in staging. Then use that money to paint tired walls, remove out-of-style wallpaper, or store worn out furniture and bring in rentals. The money invested can actually reap returns of 200% or more.
  Don’t let a house sit totally empty. A silk plant, simple chair and occasional table can ad a lot of character to an empty room.
• Go professional. If you’re not comfortable making decorating decisions and you think you need serious help, hire a professional decorator who understands the ins and outs of staging a home. It brings fresh eyes and ideas into play.
• Get rid of clutter in every area—closets, attic, storage, kitchen cabinets, drawers, bath vanities, shelves-everywhere. You will pack up for your move anyway, so just think of it as starting early. * Position mirrors in the right places to make a room appear larger. Make sure the mirrors reflect what you want to see more of, such as a favorite painting or a lovely window. * Choose a light color scheme to help open up a room. White, cream, pearl gray, or soft yellow seem more inviting and open because they reflect light. * Bulky furniture and too much furniture makes a rooms look too small. Have a moving sale or just store things in the garage or storage

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 The Escrow Process

The Escrow Process: Your escrow is created shortly after you execute the purchase agreement to sell or buy your home. It cannot be successfuly completed until all escrow instructions have been carried out and all parties have signed escrow documents. The length of escrow can range from a few days to several months, depending on the terms of the purchase agreement. On average, and escrow closes within 45 days.

Opening the Escrow: Either your real estate agent or the sellers agent may open escrow. As soon as you execute the sales agreement, either your agent or yourself will place the initial deposit into an escrow account. At the opening of escrow, you may be asked to provide identification information such as your birth date and social security number. This information remains confidential.

The Loan : Unless the purchase is all cash, the first step will be for you (the buyer) to select a lender and apply for a mortgage loan. Escrow will require contact information of your lender so they may coordinate and expedite the process of closing the escrow.

Now What? : You have made the first step to home ownership but there is still much work to be done! Buyers and Sellers obligations are detailed in your contract so be sure to read through your purchase agreement carefully. Seller will usually provide a termite report but as the buyer you will need to obtain any inspection you and your realtor may deem necessary for complete investigation of property condition. Most important to start with is Home Inspection. There are many reliable inspection companies to choose from. If there are items discovered during the process you may choose to request the home owner to repair or replace items that have been discovered during inspection. Repairs are negotiable-your realtor will guide you. . There are time frames (deadlines) clearly established within the contract to accomplish your purchase so it is very important to read your contract and keep in contact with your realtor to make sure you meet all your obligations and deadlines in a timely manner.

The Closing Process

Signing the Escrow Instructions: Your escrow officer will contact you to make an appointment to sign your loan documents. The escrow officer will tell you the amount of money you'll need (in addition to your loan funds and deposit) to complete your purchase. The amount will include "closing costs" such as appraisal fees, loan fees, escrow charges, advance payment on property taxes and homeowner's insurance, the title insurance premium, etc.

Your Appointment: Before coming to sign escrow papers, make sure you have done the following: