HOW TO WIN A BIDDING WAR

Buying a home is an emotional, complex and often stressful process. This is doubly so if you’re buying in one of the country’s hottest real estate markets, where there are more buyers than there are houses available. It’s quite likely in these situations that you’ll find yourself in a bidding war with other buyers. If you want to ensure your bid is the winning offer, follow these strategies.

Pay with cash

This won’t be possible for everyone, but if you have the cash, make an all-cash offer. In a particularly hot market, cash will always win out. Sellers prefer buyers who pay cash because the deal will not be dependent on whether or not the buyer can secure financing.

Get preapproved for a mortgage

If paying all cash is not an option, you must get preapproved for a mortgage before making an offer. You’ll get a letter to submit with your offer that shows the seller how much money you qualify to borrow. In a scenario where a seller receives multiple bids, you’ll automatically count yourself out if you are not pre-approved.

Study the market

Before you begin your search in earnest with the intent to make an offer, spend some time researching online listings for the neighborhood. Know what kinds of houses are available, what the inventory is like, and what the prices tend to be.

Submit the first and best offer

In a tight market, it pays to be aggressive. When you find a house you like, be the first to make an offer. Not only that, but make sure your offer is the best. If the seller has listed the home at an appropriate price, be prepared to offer what they are asking.

Include an escalation clause

If you’re willing to go higher with your offer, consider including an escalation clause. This gives you the option to increase your offer should another buyer bid more than you. It also signals to the seller that you are serious about your offer. However, you should know what your price ceiling is, and stick to it. Otherwise you run the risk of the appraisal coming in for less than your offer, which could affect your ability to secure a loan.

Limit contingencies

Contingencies let a buyer out of a contract if certain issues aren’t addressed. Sometimes buyers want to include a contingency that the sale only goes through if their own house sells first, or if certain items are repaired. If you know a house is going to net multiple offers, you must limit the number of contingencies if you hope to win a bidding war. Sellers will generally choose offers with the fewest contingencies.

Get personal

Do you really love the home? Can you imagine your kids enjoying that backyard tree house, or see your dog loving the enormous backyard? Then write a letter to the seller explaining your reasons for wanting the house. Appealing to a seller’s emotions can be incredibly persuasive, and you may be rewarded with the winning bid.

HOW TO MAKE BUYERS FALL IN LOVE WITH YOUR HOME

When a buyer decides to make an offer on your home, they usually make the decision with their heart, not their head. Buying a home is an emotional decision, and smart sellers will leverage this information to make the quickest sale for the highest price. Just in time for Valentine’s Day, here are our best tips for how to make buyers fall in love with your home.

Take great photos for your online listing

In today’s real estate market, most buyers begin their home search online. For this reason, it’s essential that you have great photos for your listing. Put yourself in the buyer’s shoes. What kind of photos would you like to see of a potential new house? Make sure photos are well lit, rooms are clean and all your home’s qualities are emphasized.

Give the exterior a facelift

Once a buyer has browsed through the online listings, they’ll determine which houses they’d like to see in person. But just because they found something they like in the listing, doesn’t mean that feeling will automatically transfer when they show up to your front door. First impressions count. You only have a few seconds when the buyer arrives at your house to make it look inviting. They will assume what they see on the outside will be reflected inside. Take time to give the exterior of your home a facelift so that it has the best possible curb appeal. Clean up the yard, trim trees and bushes, plant annual color, power wash the outside and give the front door a fresh coat of paint.

Clean, de-clutter and de-personalize the interior

To make buyers fall in love with your home, you must make it easy for them to imagine living there. That can be difficult if there’s a giant framed photo of your grandmother staring at them, or worse, sports paraphernalia from an opposing team. Give your home a thorough cleaning and remove clutter, including bulky furniture. Take down all family photos and store all personal items. Your home should feel fresh, clean, spacious and neutral.

Appeal to a buyer’s senses

In order to work on a buyer’s emotions, you must appeal to their senses. Fill the air with good scents, like fresh flowers, baking cookies or brewing coffee. Set out some light snacks and drinks. Play some soothing, ambient music. Use fabrics with a variety of colors and soft textures for beds, couches, curtains and tablecloths. You want to make your home feel warm and inviting and leave potential buyers feeling relaxed and happy.

Price it right

One of the most important details that will move a buyer from “like” to “love” is offering your home at just the right price. Do you homework and research comps in the neighborhood. Talk with your real estate agent about how to best price your home to sell – not too low, not too high. You want to hit it right at the sweet spot, which an experienced agent can help you do.

Are you ready to make buyers fall in love with your home for sale? Then follow these tips and you’ll be on your way to closing day.

10 SIGNS THAT IT’S TIME TO MOVE

While moving can be a real drag, sometimes it’s obvious that it’s time to go. A move can be just the thing you need to jumpstart your life and invite positive change. If you’re unsure whether or not you’re ready to take the plunge, here are 10 signs that now is the time to relocate.

1. You’ve outgrown your space

Have you resorted to renting a storage unit, even after you’ve de-cluttered your home with the KonMari Method? Then it may be time to upgrade to a bigger space. Wouldn’t it be nice to have some room in your closets and cabinets again?

2. Your finances have changed

Are you making significantly more or less money than you were when you moved into your current space? If you find yourself with nothing to spare at the end of the month – or much more than you know what to do with – then you might want to consider moving into a home that is more in line with your current financial situation.

3. Your family is growing

Are your kids getting tired of sharing a room – and there’s another one on the way? Or maybe it’s time to start a family and you’re not happy with your current school district. Either way, a growing brood is a good indication that it could be time to move into a home that is more family-friendly.

4. The house feels empty

Are your kids off to college, or grown with their own families? Do you suddenly find you have more rooms than you know what to do with? Why not downsize so you have less to take care of?

5. The neighborhood has changed

Are crime rates going up?  Are there more empty houses or yards that aren’t being maintained? Sometimes neighborhoods change. If you don’t like the way it’s heading, it could be time to go.

6. You hate the weather

Those snow days were fun – at first. Now hauling out the snow shovel every few days is getting to be a bummer. If you find yourself pining for sunny days and warmer temperatures, it might be time to relocate to a more temperate climate.

7. Your commute is wearing on you

Studies show there is a direct link between commuting time and happiness levels. If you’ve found your good mood waning recently, think about moving closer to your job.

8. You’re in a new relationship

While we wouldn’t recommend moving every time you meet someone you like, there are moments when you know you’ve found the person you’d love to spend the rest of your life with. If your current place is too far away from them, it makes sense to move closer.

9. Your house needs work

Are you getting tired of making trips to the home improvement store every weekend? Is your to-do list getting longer instead of shorter? Then maybe it’s time to give your wallet and your free time a break with a new place that requires less maintenance.

10. You like the idea of a fresh start

Sometimes there aren’t black-and-white reasons to move. Maybe you’ve just gotten the itch to explore a new place, to expand your horizons. And that’s perfectly okay. If your intuition tells you that it could be fun to move on, then now may be the perfect time for a new adventure!

SURVIVING YOUR LONG DISTANCE HOME PURCHASE

Buying a new home can be stressful. But when you have to do it from across the country, it can be doubly so. If you’ve recently gotten a new job, committed to a new relationship or just need a change of pace, you may soon find yourself in the position of house-hunting from another state. Here’s what you need to know so you can survive the process.

START ONLINE

In today’s technological world, much of your home search can be conducted online from the comfort of your current home. Check out real estate websites to see what’s listed in the local market. Post on social media that you’re looking for a house in the area. Get a sense of what prices are like and what you’ll be able to afford. Use Google Earth to take a virtual tour of potential neighborhoods. There is so much you can learn without even visiting.

INTERVIEW REAL ESTATE AGENTS OVER THE PHONE

Even though you can’t meet them in person, you should still take time to interview potential agents over the phone. Your relationship with your agent is an important part of the process, and you’ll be relying on them even more when moving from a long distance. Working with someone who is extremely knowledgeable about the market you’re moving to is important. Try to interview at least three agents to find the one that is most compatible with your needs.

GET CLEAR ABOUT YOUR NEEDS

When you’re searching for a home nearby, it’s easy to take an afternoon to look at potential homes, even if you don’t think they’re a perfect fit. Not so if you’re moving far away. In order to maximize the time you have to look at homes, you need to get very clear about what it is you want and what you can afford. Make a list of what you can’t live without and a list of what might be nice to have. Be sure to communicate these desires to your agent so that they can be sure to schedule viewings only for homes that fit your needs.

TAKE A WEEKEND VISIT

If possible, you should try to get out to your new city for a couple of days to look at houses in person. If you’ve gotten specific about your needs and communicated them to your agent, you should have enough time to see the homes you would be genuinely interested in. You can also use this time to drive around potential new neighbors and get a feel for them.

CONSIDER SHORT-TERM HOUSING

If all this sounds too stressful, you might consider simply living in short-term housing when you first arrive. Look online for short-term leases or sublets in the city where you want to move. Taking a few months to get to know a neighborhood can help make your housing choices clearer, and it can relieve some of the stress as you are packing up and getting ready to move.

While buying a home from across the country can be daunting, it isn’t impossible. With a little planning and a trusted agent at your side, you can complete your home purchase more easily and be settled in no time.

WATCH OUT FOR THESE MOVING SCAMS

If you’re getting ready to move to your new home, you’ve no doubt been advised to research moving companies. While it may seem like a huge inconvenience to spend time vetting movers, there are some out there that are less than honest. Keep a look out for these common moving scams and avoid them at all costs

LOW-BALL ESTIMATES

If you’ve contacted a moving company and they are willing to give you an estimate without actually inspecting your home, be wary. Most people have more possessions than they realize, and moving companies generally factor in their weight and the amount of space they take up.  You will not get an accurate cost estimate if the moving company does not inspect your belongings themselves.

Also be on the lookout for moving companies who only do a cursory glance at your belongings without asking specific questions about what you intend to take with you and what you’ll leave behind. You may likely get a low quote that doesn’t accurately reflect what you actually have. You may find yourself in a pickle on moving day when the cost rises dramatically. Or worse, the company could hold your belongings hostage until you pay the difference.

ASKING FOR A LARGE DEPOSIT

Good moving companies will not request a large deposit up front for their services. Most reputable companies expect payment upon delivery. Those that collect deposits are often the same ones who don’t show up on moving day, or who take much longer to deliver your items to their final destination.

DIFFERENT NAMES

If a company has received complaints to the Better Business Bureau, they will often get around them by changing their name. When researching movers, make sure they answer the phone with the full name of the company. Ask for local references and follow up with them. Get all the names the company does business as and find out their license numbers and if they are properly insured. Research the company online to see if there are any complaints or bad reviews posted.

HIDDEN FEES

Some moving companies inflate the final bill by tacking on hidden fees. Be sure to request an itemized bill and look for charges that weren’t discussed beforehand. You could be billed for living in a two-story house, living on a narrow street that won’t fit the truck, or having to park the truck more than a certain distance from the front door.

INCOMPLETE CONTRACTS

If a moving company asks you to sign a blank or partially completed contract that they’ll fill in later, decline and find another company. You want all the details spelled out from the beginning, including the delivery date, price and under what conditions additional fees may be incurred.

While it may seem a little daunting to research and hire a moving company, doing your due diligence will ensure that your move goes as smoothly and quickly as possible. The peace of mind you’ll gain is more than worth the extra time to find the best and most reputable company for your budget.

REINVENT A ROOM FOR STAGING

You’re ready to sell, but you know that your home could use some updates to attract serious buyers. But you don’t want to invest significant time or money, which is understandable. Major remodels don’t always bring a desired return on investment when you’re selling. So what do you do?

Here are some great suggestions to spruce up the rooms in your house when you’re staging for a sale. These ideas require minimal time and effort and will give you the biggest bang for your buck.

Turn the office into a bedroom

Does your home have an extra room you’ve been using as an office, an exercise room, or even a storage space? Turn that extra room into a bedroom. Having another bedroom can be a selling point for prospective buyers with growing families. Remove clutter and replace it with a simple bed, or even a set of twin beds. Add simple touches with colorful comforters, throw pillows and art.

Turn the basement into living space

If you’re lucky enough to have a basement, turn that unused space into viable living space. If your basement is unfinished, take time to clean, de-clutter and paint. Then use your imagination to transform the extra space into something buyers can appreciate. This could include a game room, an office space, a home gym, a man cave or even living quarters for an elderly parent or teen.

Turn the back entry into a mudroom

Do you have extra space near your back door? Then why not turn it into a mudroom of sorts? Every family needs a place that’s a catchall for coats, boots, backpacks and mail. Create a space for that with hooks, a bench and some cubbies for baskets.

Create a laundry room

If your washer and dryer are tucked away in a corner, a closet or the basement, invest time in making that space more inviting. After all, there’s no doubt that most families spend hours a week on laundry chores. First clean and de-clutter the space. Apply a fresh coat of paint to make the space light and bright. Install shelves around the washer and dryer for laundry supplies. Add some personality with stylish baskets and wall art. You want to create a dedicated space that is welcoming and that prospective buyers will actually want to spend time in.

Give the kitchen and bathroom a facelift

Kitchens and bathrooms are big selling points for buyers. They are also expensive to renovate. Consider giving these rooms extra attention with a cosmetic facelift that is much less expensive than a complete overhaul. Paint walls and cabinets with a fresh coat of neutral colored paint. Switch out hardware to something simple and contemporary. If countertops and floors are damaged or outdated, consider replacing with something clean and modern. Enhance the lighting by switching out fixtures. You can even update appliances with paint that is specifically formulated for them.

If you’re getting ready to sell and want to refresh your home without spending a fortune, consider one or all of the options above. That little bit of extra time and energy could pay off big in the end!

Buying a Home? Don’t Forget the Inspection!

You’ve finally found the home that is just right, made an offer and it was accepted. Now you just wait for escrow to close, right?  Wrong!  Your work is just beginning.

Now is the time to have the home inspected, if it hasn’t been, to make sure you are aware of any possible issues in the home before it’s too late and the deed has been transferred. An independent inspector can evaluate your potential home on a structural and functional level and give you a full report, generally in under two to three hours, depending on the size of the home. This report can help you feel at ease with your purchase and alert you to any areas of concern.

If there is a swimming pool or spa or unusual home appliance or fixture, you may want to have that inspected individually by a reputable repairman in that field. Questions and concerns relating to asbestos, lead or chemicals, mold and mildew, or pests will need to be directed to an inspector licensed in those specific areas of expertise.

Generally speaking, a home inspection on a property for sale will cover the following areas:

• An evaluation of the walls, ceiling, floor, roof, firewall, windows, foundation and slab.
• Inspection of the landscaping, looking particularly at grading and drainage, although drives and walkways, fencing, trim, doors, windows, and outlets will be checked as well.
• General framing as seen in exposed beams or attics, ventilation, duct and plumbing systems, and the condition of roofing materials, plumbing and rain gutters will be noted, too. Water heaters, fireplaces and the sprinkler system should be evaluated.
• Earthquake structural safety and whether it is bolted to the foundation or needs to be to prevent major damage during earthquakes.
• The electrical sources and wiring in the home will be inspected, from circuit breakers and grounding systems to exhaust fans and receptacles.
• All appliances, including the garbage disposal, alarm system (if needed) and all smoke detectors.

Every city in San Diego County has different regulations in regards to home inspections, so it it best to use a local inspector recommended by your Realtor. If the inspection uncovers issues in the home regarding health and safety issues, a need for the roof or ventilation system to be replaced, a problem in the home’s foundation or significant drainage concerns, you will want to further explore the problem at the seller’s expense.

In some counties in California, it is customary to have the inspection done prior to the property being listed.  When you are ready to make an offer on the home you ask for the Disclosure Package that will include inspections.  Should you see something in the inspection you are concerned with, you should have an additional inspection of the item as most sellers do not include roof, chimney, pool or foundation inspections in their package unless there are major issues and they wish to sell the property “As-Is”, meaning they have disclosed everything that they can find wrong with the property and you are aware of all of it prior to buying the home.