Posts Tagged ‘home buyer’

Buyers Agent or Sellers Agent?

That is the question! If you are just starting your journey to purchase a home-Congratulations! This is a huge step. Do you know the difference between a buyers agent and a sellers agent?

Basically the sellers agent represents the interest of the seller and the buyers agent represents the interests of the buyer. Sounds pretty simple.

Sellers Agent- Agent of record on the listing-listed on the sign or in the ad/flyer. This agent has a contractual agreement with the home’s seller to represent their best interest-otherwise known as fiduciary duty. Their first loyalty lies with the seller.
Buyers Agent: Agent who contracts with home buyer to represent him as his exclusive agent and has the same fiduciary responsibility to the buyer as the sellers agent has to the seller. Their first loyalty lies with the buyer.

Dual Agency: This is where one agent agrees to represent both buyer and seller in a real estate transaction. They will agree to represent both parties within the transaction-Apparently giving their first loyalty to both simultaneously.
Assuming the agent is honest and conscientious -and of course we do assume this -he or she will have a difficult time providing the best advice to two conflicting parties and obtain the best possible outcome for both sides. It is very difficult to serve two masters at one time and do it well.

Be an informed consumer. Before you sign a real estate contract, make sure you are engaging the assistance of a real estate agent that has your best interests as their first priority.

Create Visual Space

Home buyers want the most house their money can buy. A large house with a choppy floor plan and small rooms can feel less spacious than a smaller home with an open floor plan. A clean, well-maintained, and spacious home is not only more marketable, but can often command a higher price.

Here are some things to do to visually create more space:

* 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.
* Clear out the clutter. Keep decorative objects to a minimum. Porcelain figurines are distracting and can be easily broken. Pick up newspapers and magazines. Put away–or pack away–unnecessary items from countertops in the kitchen and baths. Clutter can make rooms seem smaller than they are.
* Minimize the amount of furniture you have in each room. This doesn’t mean smaller furniture! Just less of it. Sometimes just removing a few pieces will do help make the room appear larger.

Part of my expertise is in helping sellers get their home ready for the market. If you are considering selling and would like some tips on how you can stage your home to obtain top dollar, please call for a personal consultation. I look forward to hearing from you.

Inflation and Mortgage Rates

Could Inflation affect mortgage rates soon? Most people do not think about inflation but it is already here. Just consider how much prices have gone up in the last year. You will see an increase in almost everything you buy!

 Contrary to what the Fed has said about it moderating, year-over-year inflation is on the rise. Producer Price Index (PPI) rose by 0.8% in the month of September, elevating year-over-year wholesale prices by  6.9%. Meanwhile, the Consumer Price Index (CPI) for September rose by 0.3%, and while this was inline with estimates it pushed the year-over-year number to 3.9%. This is significant because the year-over-year figure was just 1.6% in January.

Remember, inflation is the arch enemy of Bonds and home loan rates. The concept is very simple: If inflation rises, investors in Bonds demand a higher yield to offset the lost buying power inflation imposes on a fixed payment. And as home loan rates are tied to Mortgage Bonds, this would mean home loan rates move higher.

It’s still important to remember that now remains a great time to purchase  a home, as home loan rates  are still near historic lows. .

If you need help in purchasing or selling a home in Orange County Ca just Contact Mary or text /call 949-275-6544

Time Your Home Sale!

Even in this time of uncertainty, when home values seem to be difficult to track, there is something to be said for timing your home sale! Spring brings renewed hope and has typically always been the best time to sell. This year holds promise for being a very good year! Here is how the seasons break down:

  • The best selling season is  Spring! The day after Super Bowl generally rings in Spring for the real estate sales market. Optimal time to find a home and move in by the end of the school year. This allows school age children additional time to settle into thier new homes and adapt before school begins.
  • Summer is the next best time. The hot summer months help sell homes with pools. The fall school year is definitely the motivator to find and secure a home before the new school year begins. 
  • By early fall many buyers have left the market. Often we will see a resurgence in October and November but generally from October through February is the best time to buy a home if you are looking for a bargain! Many homes will be reduced in this time period so don’t let this happen to you. 

Always sell based on supply and demand: When there are more buyers than homes for sale (sellers market), sellers are able to obtain better prices and terms; when there are more homes for sale than there are buyers, sellers may have to reduce their price and perhaps make other concessions to sell their home. Also, keep in mind that it is easier to sell in a low interest rate environment- which is what we are enjoying today-when more buyers can qualify for a home loan

Currently many neighborhoods have little to no inventory (competition?) and interest rates are historically low. The  economy and real estate market may still be struggling but these two factors are worth considering if you are thinking of making a move this year. The home buyer credit is also still in play until April so this will add to the demand through the next couple of months. 

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