Visiting Open Homes

An open house can be an opportunity for you to get information about homes and the housing market. Open houses are a common real estate practice because they give an agent the opportunity to market the home and to meet prospective buyers.
Here are some questions you may want to ask:

• Are you the listing agent for this house? Busy agents sometimes arrange for a colleague or assistant to conduct the open house. Don’t assume the person showing the home is knowledgeable about the house or has met the sellers.
• How long has the home been on the market? Well-priced homes in good condition generally sell in a short period of time. Unless the local market is weak, you will want to know why a particular home is not selling. Are there hidden defects? Is it overpriced? Are the sellers requiring something that may seem unreasonable as a condition of the sale?
• Have the sellers received any offers? If the sellers rejected offers that were too low or had contingencies or conditions, you should find out before you experience the same.
• Is any furniture or fixturing being sold with the house? If you’re thinking of buying the home, there is no better time to ask whether the seller would be interested in including the patio furniture or the dining room chandelier.
• Are there any special costs attached to the property? Is there a homeowner’s association that has dues or fees? Are there particular tax assessments? Are there any natural hazard issues to be aware of? Are there any hidden costs of owning the home?
• How does this house compare to others on this street? The local agent may be able to speak about recent sales in the neighborhood as well as some interior ideas seen in other homes. 

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Are You Ready To Find A Property?

Are you ready to get started?! Once you've determined that you are ready to purchase a home, there are few things as exciting as searching for just the right property to call your own.

Remember, shopping for a home is a process that, whenever possible, should not be rushed. Make sure that you perform adequate research on the area, neighborhoods and the homes available on the market before you buy. You should do your best to look carefully and, whenever possible, try not to let your emotions make your final decision.

I will help to provide you with additional information on areas that are attractive to you, as well as schedule times for you to preview any properties that may be of interest.

5 Simple Water Saving Tips for California’s Drought

Across social media platforms, California has been dubbed the “LOL” state of the country, referring to our perpetually perfect weather, while the rest of the United States grapples with snow storms and Polar Vortexes. Our more-than-sunny disposition, however, is no laughing matter for the Golden State. (Although it’s difficult to avoid chuckling at hashtags like #SolarVortex in reference to our state’s uncharacteristic 70-degree weather this January). 2013 was the driest year on record in California, motivating Gov. Jerry Brown to declare a statewide drought emergency last week. And that means Californians are now being asked to voluntarily cut our water usage by 20%. Coldwell Banker Residential Brokerage in California pulled together a few simple steps we can take, right now, to aid in the preservation of the precious and limited reserves we have during this time of crisis. Here are some indoor tips provided by the Metropolitan Water District of Southern California and the Family of Southern California Water Agencies: 1. Wash only full loads of laundry and dishes. Instituting this very simple policy of half-full-dishwashers-no-more can lead to water savings of up to 50 gallons per week. Makes sense. 2. Fix household leaks promptly. On average, homes across America can create water waste of up to 10,000 gallons a year due to dripping faucets, running toilets and other types of leaks. Many public water utility agencies offer free in-home analysis of leak detection and water-saving equipment, including low-flow shower heads and faucet aerators, as an initiative to help residents in water conservation efforts. Check with your local water authority for information and opportunities to become water-wise. 3. Spend only five minutes in the shower. This may be one of the easiest yet challenging methods of conserving our precious resource of water. That long, hot, steamy shower can cost you up to eight gallons! In addition to installing a low-flow showerhead, there is also help for trimming the length of a shower to five minutes-the shower timer! Many products are out there on the market to choose-from the very basic to more elaborately designed models, literally, with bells and whistles. No quarters necessary. 4. Turn off the water while brushing your teeth. Tick-tock-tick-tock-approximately 2.5 gallons per minute are circling the drain while you’re scrubbing your pearly whites. A matter of mindfulness and creating a new habit. They say that only takes 21 days-consider a note on the bathroom mirror until the practice “sinks in.” 5. Install the latest water-saving equipment, like high-efficiency toilets and clothes washers. There may be a rebate program in effect to offset the cost of purchase, so check with the public water authority in your area. It’s worth a look.

3 Questions to Ask Before Buying a Home

by The KCM Crew on January 20, 2014 in For Buyers 1.20 VisualIf you are thinking about purchasing a home right now, you are surely getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually a good time for you to buy a home. There are three questions you should ask before purchasing in today’s market: 1. Why am I buying a home in the first place? This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home have nothing to do with money: A good place to raise children and for them to get a good education A place where you and your family feel safe More space for you and your family Control of the space What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the biggest reason you decide to purchase or not. 2. Where are home values headed? When looking at future housing values, we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. Here is what the experts projected in the latest survey: Home values will appreciate by 4.3% in 2014. The cumulative appreciation will be 28% by 2018. Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 16.8% by 2018. 3. Where are mortgage interest rates headed? A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by an increase in mortgage rates. The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase by approximately one full percentage over the next twelve months. Bottom Line Only you and your family can know for certain the right time to purchase a home. Answering these questions will help you make that decision.

How to Dry Concrete Floors

by Kristy Robinson, Demand Media Use a propane torch to dry garage or patio floors quickly. Concrete slab floors take up to 90 days to fully cure, or harden and dry. Unfortunately, that means waiting to install a new, more attractive floor, which is not what most builders or homeowners want. Moisture in the floor, even if there’s no standing water, interferes with the adhesion of glue and mortar products. Luckily, there are things you can do to speed up the process. These same techniques work well if you’ve had a flood or moisture seeping into a basement and want to prevent mold from developing. 1. Sweep the floor to remove all dust and debris where no standing water is present. Scrape up excess adhesive or other matter on the floor that can hold moisture or catch fire. 2. Vacuum up standing water from the floor with a wet vac. Empty the wet vac before it becomes full to prevent the water from coming back out or the machine becoming too heavy to lift. Dump the water away from the foundation of your home so that it doesn’t seep back in. 3. Raise the temperature in the room as high as possible. A temperature of 90 degrees is preferred to add energy to the excess water in the slab enabling faster curing. Place a humidifier in the room and set it to lower the humidity to 10 percent. 4. Tape a piece of plastic sheeting to the floor tightly. Leave the room closed off for three days, and then come back and test underneath the plastic with a dew point hygrometer. This tool tells you the humidity level of the concrete. Compare the humidity level with the tile or carpet adhesive manufacturers’ guidelines to determine if the moisture level is low enough for installation of the product. 5. Put on long pants, a long sleeve shirt and heat-resistant gloves. Remove all flammable obstacles from the room. 6. Assemble the propane torch parts, inspecting each to make sure there is no damage and no o-rings are missing. Connect the torch assembly to a 20-pound propane tank according to manufacturers’ directions. Place the propane tank in the center of the room for maximum mobility. 7. Test the torch for any leaks by shutting off the torch adjustment valve and opening the supply valve on the tank. Tighten or replace any parts of the torch assembly where there is a leak. Close the shut-off valve on the tank and open the torch adjustment valve after testing to release any gas in the torch. 8. Close the torch adjustment valve and leave it for 30 seconds. Open the shut-off valve on the tank slowly. Point the torch away from the tank and turn the adjustment valve just until you hear gas escaping. Hold the igniter near the end of the torch and strike it to light the torch. 9. Hold the torch so that the flame is 6-inches off the concrete floor. Wave the torch from left to right slowly over a small area. Keep the torch moving and walk slowly to a new area as you complete one portion of the floor. 10. Shut off the tank supply valve. Disconnect the torch assembly from the tank and leave it to cool before storing. Things You Will Need Broom Scraper Wet vac Humidifier Long pants Long sleeve shirt Heat-resistant gloves Propane torch 20-pound propane tank Tips Only use a propane torch approved for indoor operation. Warnings Propane torches provide up to 3000 degrees of instant heat. Use extreme caution when working with the torch and follow all manufacturers’ safety guidelines to avoid injury. Propane torches are not recommended for use in enclosed spaces due to the inability of the propane tank to withstand temperatures above 120. The heat from the torch raises the temperature in the room above that level quickly.

Loan Demand Back on the Upswing

Daily Real Estate News | Wednesday, January 22, 2014 After reaching a 13-year low at the end of last year, mortgage applications were back on the rise last week, the Mortgage Bankers Association reports. Mortgage applications, which include those for refinancing and home purchases, rose 4.7 percent on a seasonally adjusted basis for the week ending Jan. 17. Broken out, demand for applications for refinancings increased 10 percent over the prior week, while applications for home purchases, viewed as a future gauge of home buying, dropped 4 percent, the MBA reports. The MBA’s mortgage application index had posted its lowest level in about 13 years at the end of last year, when the Federal Reserve announced it would be tapering its $85 billion per month bond-buying program in the new year. However, for the last two weeks, mortgage rates have been declining. The average rate on 30-year fixed-rate mortgages fell from 4.66 percent to 4.57 percent last week, MBA reports. That marks the lowest average for 30-year rates since this past November, according to the MBA. Source: “U.S. Mortgage Applications Rose 4.7% Last Week,” The Wall Street Journal (Jan. 22, 2014)

Builders Hike Their Prices

Daily Real Estate News | Wednesday, January 22, 2014 More builders are reporting they’re raising their prices on new homes. Twenty-four percent of 231 builders recently surveyed say they raised their prices in December, which is an increase over a 19 percent low reported in November, according to John Burns Real Estate Consulting Inc. data. The percentage of builders who say they lowered their prices fell to 8 percent in December, after a 12 percent high in October. “The pricing environment notably improved,” Jody Kahn, a senior vice president at Burns, told The Wall Street Journal. “It’s still not back to where we were earlier in [2013] with builders raising prices aggressively.” In early 2013, more than half of the builders surveyed had reported raising their prices, with some markets, such as California and Arizona, even posting double-digit increases from 2012 levels. But prices curtailed during a slowdown in the summer months as interest rates rose. Lately, however, interest rates have mostly remained flat — around 4.4 percent to 4.5 percent averages — and improving employment numbers have builders feeling more confident again. Average new-home prices reached an all-time high of $340,300 in November, according to the U.S. Census Bureau. Michael Gapen, senior U.S. economist at Barclays, predicts that home prices will rise 7 to 8 percent this year adding to last year’s gains of 11 to 12 percent. Buyers “know that builders tend to make price increases at the first of the year,” says Gene Swang, a division president for David Weekley Homes. “I think customers are concerned that if they didn’t get a home under contract [in December], they’d see higher prices in another month.” Source: “Santa’s Gift to Builders: Higher Home Prices,” The Wall Street Journal (Jan. 21, 2014)