When is the best time to buy or sell? Hint: It's all in the MARKET

Seller’s Versus Buyer's Market – What's the Difference? 

If you could leverage the real estate market in your favor, would you? 

I'm sure you've heard the term "Seller's Market" here in Orange County and wondered not only what it is, but the impact it has on you as a potential homeowner or as you consider selling. 

Since 4th of July this year our market has SHIFTED from a "Seller's Market" to a "Balanced Market". Here are a few definitions and explanations to help you be educated on the industry terms as well as their effects on your pocketbook. 

In a buyer's market, as a seller, you will want a real estate professional who understands how to best market your home for it to sell. As a buyer, you will want to see only the properties that best meet your needs and work with a great negotiator.

The term "market" is used in several industries and is basically the idea of, like a grocery store, where buyers and sellers meet. Supply and demand (what sellers offer and what buyers want) often dictates price.

In a buyer's real estate market, it means there are more homes available than there are buyers. It allows more freedom to home buyers, giving them the opportunity to shop housing options. Sellers in this market will likely make concessions to attract a buyer, such a lowering their listing price.

A seller's market is when inventory is low, meaning there are more interested buyers than there are attractive homes available for sale. In this market, home prices tend to be higher, but multiple offers are still made on the same property - sometimes even above list price. Prospective home buyers need to be prepared, patient, and ready to act quickly. They may need to make concessions to secure an offer.

As a seller, it is important to work with a real estate professional who understands how to price and position your home properly for the best outcome. As a buyer, a real estate agent on your side will help draft clean and fair offers to help win the best home for you.

Orange County is now shifted to a balanced market. A balanced market is when the real estate market doesn't favor the buyer or the seller. Typically, homes take 3-6 months to sell, and there is a fairly equal amount of buyers and sellers. During this time, there is more time for buyers to shop around, and negotiating skills by real estate professionals are of high value as both buyers and sellers can ask for or make concessions to create the best outcomes.

​Buying or selling? Contact me today to get the results you desire.

3 DIY Projects To Do Before Fall

Home improvement projects can be fun and add value, whether you’re making your home space more usable, more attractive, or more comfortable. Here are three projects to get your creativity flowing based on your skillset.

PAINT YOUR ENTRY DOOR

Painting your front door can increase your curb appeal and give a feeling of newness to your entryway. Choose your color in a glossy exterior paint – a quart should be enough. You may want to test a few colors in various lighting before you make your final decision.

Be sure you paint on a dry day with moderate temperature so the paint can dry and not blister. Start by either removing the door and any hardware or by taping off the areas that aren’t receiving paint. Scrape off any chipping paint, sanding the door if needed. Brush off any dust, dirt, or debris and apply paint with primer, or prime first and then paint it once dry.

Other ideas: freshen up the look of a room with a new paint color, accent wall, or cleanly painted trim.

 

INSTALL A PAVER WALKWAY

Pavers come in all shapes and sizes and can create a flat parking space for an RV, more design and aesthetic to your entry, or even a whimsical path to outdoor space. Quickly spruce up an area, such as a garden, with a border. Or, dig a 5” deep trench set with compacted class V gravel and sand to create a long-lasting foundation for decorative pavers.

Other ideas: consider adding outdoor lighting along your new path or end it with a patio. An outdoor fireplace and seating area will make the space perfect for entertaining.

DO A MIN-MAKEOVER

Kitchen and bathrooms are where we spend most of our time, and a mini-makeover can create a more beautiful or usable space. Replace hardware, add a tile backsplash, or install a new counter or sink to instantly transform your space. Install drawer roll-outs to increase storage and reduce clutter.

Local hardware stores and online tutorials are sure to inspire and instruct you on your makeover. And all these projects can be completed over a weekend.

Other ideas: consider installing shelving and/or organizers in a closet, laundry, or mudroom.

Don’t have the time or skill to do it yourself? Contact me about in-home services from a great handyman, plumber, or electrician.

Being Successful When Buying Real Estate Requires These 4 Steps

For multiple years now the Orange County housing market has experienced low inventory. It is easy for buyers to become frustrated during the process causing them to give up or become desperate. Instead of making choices that can lead to regret, I wanted to offer some tips to help you get the home of your dreams - even in a market with fewer homes for sale. By being prepared with the right expectations, you can navigate this hot real estate market effectively.

Have a Professional Buyer Consultation 

Most agents skip this process and will get you out looking for homes before you understand the entire buying process and everything involved in buying a home in today's market. It is critical to understand the entire process before you start. 

You need to know all of the costs involved, the purchase timelines, your contingencies, the inspections/paperwork needed, and how the current market conditions will affect you. You really must know what it will take for you to purchase a home in any market especially a market like ours with low inventory. 

Our consultations are COMPLIMENTARY and very informative helping you with the right decision when buying a home.

Get Pre-Approved with a Reputable Local Lender.

In a low inventory market, you must have your pre-approval done before you can submit an offer. You must come ready to make a solid offer with a full pre-approval or the seller will simply choose the offer that is most secure. 

We can offer you a list of our proven preferred lenders here in Orange County that have great rates and customer service. They will get you pre-approved, discuss your budget, breakdown your housing payment, and the tax advantages of home ownership so you are prepared before you go house-hunting.

Act Quickly.

Once you've positioned yourself with a great agent and lender it is important to act quickly on a home you love. With low inventory, an attractive, well-priced home will likely get several offers - and fast. This means you need to be willing to make quick decisions, including implementing strategies for making your offer stand out as the best. This may mean a note to the seller, higher earnest money, flexibility on closing, or more.

Hire a Great Agent that knows how to write winning offers!

Having a professional real estate agent with years of experience in a seller's market is invaluable! You need and agent that will FIGHT FOR YOU to win the deal! 

Having an experienced agent, with great negotiating skills, that is proactive and knows how to write winning offers is the key between getting your dream home or losing out on the home you love! 

With almost 30 years in the business I will direct you on how to submit the best offer, properly prepare the bid to be most attractive, and help you get the first showings on the house(s) that best suit you. ​We typically win 75% of all our multiple offers written for our buyers! 

I can help you be more successful in a tight housing market. 

Contact me today for the professionalism and experience you need!

Your Home Inspection Checklist

Unless it’s a glaring flaw or you’re a trained professional, you probably can’t tell if your home needs repairs. The home inspection is one of the most critical pieces of the buying and selling process. It’s good to know what to look for before any inspection. If you’re buying, you’ll have a better idea of what the inspector is looking for and if he or she misses anything. If you’re selling, you can have an idea of what to fix before your home goes on the market. It will take away the chance of surprises. 

Here are a few things to look for:

Are there visible cracks?

Are your appliances all working well?

Do you hear any unusual noises?

I’ve been through many, many home inspections in the area. I can help you understand this checklist and how to negotiate after the home inspection. Contact me for all of your real estate needs.