Homebuyers: To get the house, get there first

(Money Magazine)

Housing inventory is stiflingly tight in many locations, making it a challenge to find, much less land, your dream home.

The number of available houses in the hottest markets has dropped dramatically over the past year, says the National Association of Realtors: In the Boston area, for one, inventory levels are down 29% vs. 2012. And Denver, Seattle, and San Francisco aren't far behind.

"Some homes are flying off the market in a matter of days," says Paul Bishop, VP of research for NAR.
Shopping in a popular spot? You'll have to go beyond the usual sellers' market tactics, such as getting prequalified for a mortgage. These strategies will help you find homes first, stopping a bidding war before it starts.
Go unlisted
One way to head off the competition is to look for so-called pocket listings, homes that are for sale but don't show up on the multiple listing service, where brokers post available properties.
Owners may choose not to list because they want to keep details about their houses private, or simply because they don't want to deal with staging the home and taking photos, says Zillow contributor and agent Brendon DeSimone, who works in New York and California.
Related: Secret 'pocket listings' return in hot housing markets
To find these homes, you'll need a well-connected broker. "You want someone who has an inside track," says DeSimone. Agents who have experience with pocket listings should be able to tell you about examples of off-the-radar houses they've handled in the past, as well as any they are currently aware of (keep in mind that pocket listings are most common in areas with tight inventory).
A caution: Buyers considering an unlisted property should be on the lookout for defects and check that the price is in line with the area, says San Francisco broker Samuel Cadelinia. Owners sometimes use this low-profile method to avoid calling attention to a problem or to see if they can sell for more money.
Get the real-time scoop
Many would-be buyers depend on automatic search, a regular roundup of listings sent out by the local MLS. But by the time these emails go out to shoppers, included homes may have been online for hours or even days.
Ask your agent about real-time MLS alerts, emails that are sent the moment a new listing goes live. While not yet in all markets, the alerts are available in the San Francisco Bay area, Las Vegas, Columbus, parts of Connecticut, and more.
Related: 10 things to know about buying a home
Agents often have a home for 24 hours or so before entering it into the MLS, so your broker may be able to give you a heads-up on a house he just received. To increase your chances of getting that call, tell him that you'd like to be notified immediately, and be sure he knows exactly what type of house you're after.
See through bad listings
Don't be scared off by a hideous paint job, bad lighting, or unflattering photos. "Sometimes sellers don't listen to agents about getting the house ready for sale," says DeSimone.
In a tight market, he says, it's worth checking out marginal listings to avoid missing a badly packaged gem -- just factor in the price of any project required to bring the home up to snuff.

 

Céline Dion's $28 million island mansion

Set your search criteria a bit higher than your target price; you'll likely catch some overpriced homes that may eventually go for less. How will you know? The number of days on the market is one telltale sign, says Cadelinia.
Related: For sale by owner: Homeowners ditching brokers
For example, if most homes in the area are gone within a month but this one's been on the market for two, the owner may be willing to consider a lower offer. If the listing is new, get a sense of how realistic the cost is by comparing it with the recent sale price of similarly sized houses in the same area.
Spot would-be sellers
Finding a home that's not for sale but might be soon is tricky but not impossible.
One strategy: Ask your agent to search expired listings, says Mark Cenci, a Chillicothe, Ohio, realtor. Owners who tried to sell a couple of years ago may not be up on rising home values (June median home prices were 16% higher than two years prior, says the NAR) and might be swayed by what you're willing to pay.
Rental properties are another prospective target, since landlords may also be out of touch with current prices. Sure, it's a reach, but in this market, says Cenci, "you need to explore every option."

Why You Should Sell Your House Now

Many now realize that it is a great time to buy a home.  It might also be an opportune time to sell your house.  Here are the five reasons we believe now may be a perfect time to put your house on the market.

1. Demand Is High

The most recent Existing Home Sales Reports by the National Association of Realtors (NAR) show a double digit percent increase in sales year-over year; sales have remained above last year’s levels for over 25 months.  There are buyers out there right now and they are serious about purchasing.

2. Supply Is Beginning to Increase

Total housing inventory is again approaching historic norms of a 5 month supply compared with 4.3 months in January.  Many expect inventory to continue to rise as 3.2 million homeowners escaped the shackles of negative equity in the last 12 months and an additional 1.9 million are expected to enter positive equity in the next 12 months.  Selling now while demand is high and before supply increases may garner you your best price.

3. New Construction Is Coming Back

Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block.  As the market is recovering, more and more builders are jumping back in.  These ‘shiny’ new homes will again become competition as they are an attractive alternative for many purchasers.

4. Interest Rates Will Again Rise

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year.  The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by this time next year.
Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

5. It’s Time to Move On with Your Life

Look at the reason you are thinking about selling and decide whether it is worth waiting.  Is the possibility of a few extra dollars more important than being with family; more important than your health; more important than having the freedom to go on with your life the way you think you should?
You already know the answers to the questions we just asked.  You have the power to take back control of your situation by putting the house on the market today.  The time may have come for you and your family to move on and start living the life you desire.  That is what is truly important.

5 Tips for Lightening Your Closet’s Load

It’s a mess, it’s unmanageable, and you need space. You’re going to tackle the whole thing, and you’re not going to let sentimentality weaken your resolve. You've had an epiphany, and you’re ready to clean out your clothes closet!

But as you pull out that first item, it happens: Your ever-so-rational mind starts building an ever-so-rational case for keeping virtually every article of clothing you were just prepared to toss.

We’ve all been there, so don’t despair. Whether you’re fueled by enthusiasm or trembling with trepidation, these can-do tips will start you on your way.

1. Note the excuses. Such as:

• "I really paid a lot for that."
• "I just haven't gotten around to wearing that yet."
• "That just needs altering."
• "I'll fit back into that one of these days."
• "Fashions always come back around."

Sound familiar? We all have things we hold on to. Note the reasons that pop into your head, because once you know your reasons for holding on to those things, you’ll be better able to move forward and make room — literally and figuratively.

Start by getting rid of 10 items (or five — just pick a number that isn’t zero). In one quick sweep, you might be surprised what you can toss without a struggle. If you’re afraid of biting off more than you can chew, be assured that you can accomplish a great deal nibble by nibble, drawer by drawer, row by row.

Monarch Renovations

2. Unburden yourself of the unworn. We’ve all heard that unless it’s a cocktail gown or your wedding dress, you should get rid of it if you haven’t worn it in six months. For many of us, that’s easier said than done. It could even sound downright unreasonable. But there are ways to put this in perspective.

Our memory can be faulty, so try using these nifty tricks to keep track of what you actually wear. Buy pretty new hangers, and each time you wear something, put it on one of those new hangers. You can achieve the same result without investment by turning all your hangers backward. Once you’ve worn something, replace it with the hanger hung forward.

Cabinet Innovations

When it comes to your drawers and shelves, it’s likely that the stuff squashed into the corners and crumpled on the bottom are items you really don’t use. But if you want to be sure, take everything out and place a small, brightly colored sticker (the kind you find at an office supply store) on each clothing label and remove the sticker after you’ve worn the item. You’ll soon see what you really love to wear and what’s just taking up precious real estate. Then shift accordingly.

Also, take a closer look when you trade out your seasonal clothing. If you didn’t wear it last year, chances are good that you’re not going to wear it this year, so don’t hang it up and don’t pack it up — donate it. You know you’ll get more stuff this season, so go ahead and make room for it.

Andrea Gary/Queen of Kerfuffle™

3. Multiply your space by trimming down the multiples. Do you have five white blouses, black skirts or pink bras? Different styles for different outfits — I know, I know! But at least one usually remains unworn or is ill fitting. Toss just one of these multiples and you’ve immediately gifted yourself with 20 percent more space.

4. Dump the damaged goods. Is it pilling, tattered, snagged, threadbare? If it’s sentimental, wash it, fold it and put it in a box. If it isn’t, toss it. Is it in a pile awaiting stain treatment, repairs or alterations? Looking at a pile of stuff you haven’t taken care can create guilt and add to stress. Give yourself one week to treat the stuff, take it to the seamstress or move it out. You’ll be rid of a pile and will enjoy the singular satisfaction of checking something off your to-do list.

California Closets of Indianapolis

5. Unload the unfashionable, unflattering and unhealthy. Certainly, some items are true classics and stand the test of time. However, clothes worn in a job you no longer have or in an environment you no longer frequent (say, outfits from your clubbing days) simply need to go, especially if that job or environment has bad feelings or loss attached to it. Also, don’t keep gifts given by people you don’t actually like (the clothes or the people). If the tags are still on, return them. If not, consign them and use the cash or store credit to find something you love.

All Things Home Organizing™ by Gayle Grace

Here’s a hard truth: The 1980s are long gone. Even if that was the most exciting decade of your life, it’s time to ditch the clothes and get up-to-date. Since we aren’t always able to see ourselves clearly, a second opinion can be an excellent mirror.

If you don’t have a friend to critique your wardrobe with you over a bottle of wine, use this time-tested method: try on an outfit and imagine bumping into an old flame. Would you feel confident and sexy wearing it, or awkward and embarrassed? What you felt good in then may not be flattering now, so embrace who you are today and work with what you’ve got.

Snobz Design

We’re not all fashionistas, nor are we all prepared to completely reset our wardrobes. But the bottom line is that the closet should be a place of inspiration, not stress. So lighten your load and keep only what you love and feel beautiful in — whatever your style may be.

Monthly Home Maintenance - November – Upholstery and Carpeting

• Vacuum all sofas and pillows.
• Spot clean all upholstery and carpeting.
• For extra cleaning, consider hiring a professional service to clean
your upholstery and carpeting.
• Don’t forget to move your household clocks back on November 4
when Daylight Saving Time ends and test your smoke detector and carbon monoxide batteries. 

For a complete list of all 12  months maintenance, please call or email me.

Kelly Clarke
sold@clarketeam.com
650-489-5399