Yes, You Can Compete with an All Cash Offer When Buying a Home

Yes, You Can Compete with an All Cash Offer When Buying a Home

Finding the perfect home is a great feeling but losing that home to another buyer can be a shock to the system. At Berkshire Hathaway HomeServices California Properties we have represented home buyers who come from every background and have every type of situation. We often find that they assume if another buyer comes to the table with an all cash offer, that their options are limited. This is not always the case. Read on to learn how you can beat an all cash offer and then contact us at 310-373-0021 if you need representation.

Get written pre-approval from a major lender

Before you even begin the home buying process, and before you start looking seriously at homes for sale, get a formal, written pre-approval from a major lender. This allows you to move very quickly once you have found your home, and it also assures that you know what price point will work for you. If you have this paperwork in hand, and you are a qualified buyer, then you may be seen as just as good as an all cash buyer.

It’s all about timing

The main issue for sellers is that a cash buyer can close very quickly, while a loan will typically take an average of 45 days to close. However, there are loan products that can close much faster. In fact, some can close as quickly as 15 days. Once the property is in contract, underwriting then needs to review the offer. Appraisal and title report come next. Major lenders take longer, but some can get it done as quickly as 25 days. If the main reason that the seller wants to work with a cash buyer is timing, then look for ways to get the loan closed faster.

Show them that you’re serious

In some cases, it may be as simple as showing the seller how serious you are about their home. This means putting down the full 3% deposit up front in some cases. In other instances you could show them that you have accepted an offer on the home you’re selling. It can mean different things, but if you find a way to prove that you are serious then it may make a difference to the seller.

Take care of requirements

Depending on where you are purchasing the home, there may be requirements the seller is required to take care of. For example, the Monterey Peninsula Water Management District requires 1.28-gallon toilets, low-flow faucets, rain sensor, and low-flow showerheads. Instead of making the seller take on these changes, offer to do it yourself.

Get personal

You never know what is most motivating to a seller If there is a personal reason that you want the home, then it may be worth writing them a letter or talking to them about it. It could mean the difference between getting your dream home and losing it.

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The 5 Secrets to Home Buying that No One is Telling You

The 5 Secrets to Home Buying that No One is Telling You

If you are in the process of buying a home or are about to start then there are a few things you should know. You already know that there are dozens of reasons to hire the professionals to help you buy a home, but there are many more secrets to the home buying business than you may think. Read on to get some of the best home buying tips and then reach out to Berkshire Hathaway HomeServices California Properties at 310-373-0021 to learn more about how we can help you.

  1.  Don’t buy anything significant for six months before you are buying a home
  2. If you are buying a home, and part of that process involves taking out a loan, then you should refrain from making any large purchases. If you do so, then you could end up taking a hit on your credit. Lenders want to see that you are responsible and having not made large purchases for months before the mortgage is one thing they will look for. Opening up new credit accounts, amassing too much debt, or buying expensive items can make it hard to get a loan.

  3. Make sure you get pre-approved
  4. We see it all the time: Buyers who believe that being pre-approved for the mortgage is the same thing as being pre-qualified. They are not identical. Pre-approval means that the lender has considered all relevant issues and approved your loan. They know how much you can afford, how much they will lend you, and what your mortgage payments will be. Being pre-qualified just means that the lender has looked at basic information and decided that it’s likely they would approve for some amount.

  5. You must have a survey done
  6. This is one of the most important tips you can get – get a survey done on the property you are buying so that you can be 100% sure of what you are buying. This can save you from future disputes with your neighbors. Remember too that your property tax is likely based partially on the size of your property. You don’t want to pay tax on land that is not yours, so having a survey done makes sense.

  7. Do not try to time the market
  8. Too often, buyers will obsess over getting into the market at the exact right time. The truth is that trying to figure out what will happen in a given month is impossible. The best time for you to buy a home is when the home you want is for sale and you can afford it. Yes, there are better times than others generally – like right now when interest rates are low – but waiting another month is likely to do nothing but make you miss out on the homes available today.

  9. Visit at every time of day before buying a home
  10. Most people look at a home only during regular business hours but you also want to know what the neighborhood is like at night, on the weekends, early in the morning, etc. You do not necessarily need to tour the home at these times, but just driving by can give you a good idea of how the atmosphere changes throughout the day.

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Learn How Our Seller Advantage Program Can Help You Get Top Dollar for Your Property

Learn How Our Seller Advantage Program Can Help You Get Top Dollar for Your PropertyAs you work to sell your California properties that are many factors to take into consideration. For some people, the most important thing is to sell the property as soon as possible. For others, they are comfortable leaving a property on the market longer if they get a higher price. No matter what your top goal is, one thing is certain: The more information you have the better decisions you can make. Read on to learn about our seller advantage program and then reach out to Berkshire Hathaway HomeServices California Properties at 310-373-0021 to get started.

The more informed you are the better decision you will make

The math on this program is simple: When you get your listing in front of more people, the chances that you will sell your property quickly and for top dollar improves. We have one of the best strategies to ensure your property gets maximum exposure in your particular area. Our comprehensive strategy is our Seller Advantage. It offers an overview of your specific competitive selling landscape. This allows you to make accurate, strategic pricing decisions. The goal is always to maximize profit while decreasing the time needed to sell your home.

We provide a report on listing presentation

One of the things you will get from Berkshire Hathaway HomeServices California Properties is a listing presentation report. This shows you how buyers are searching in your specific neighborhood for homes just like yours. When you know what others are searching for then you will know how to better market your home. For example, if you find that homes in your area are often searched for with criteria for gardens, then you can actively market your home as one with a garden. If you find that the biggest concern is the number of bedrooms then you can highlight an office space as a potential extra bedroom.

Our market activity report provides unique insights

Many people come to us because they are not quite ready to sell but they do want to know what the market in their neighborhood looks like. They may be making financial decisions that make the real value of their home relevant, or they may simply be curious. Either way, we can help. Our Market Activity Report shows you specific market updates including everything from new listings to info when the pricing changes to changes to the status of a home for sale. With this information, and the guidance you will find with our agents, you have a huge advantage over others selling homes in your area.

Are you ready to get started?

If you are ready to move forward then we are ready to work with you. Simply contact Berkshire Hathaway HomeServices California Properties at 310-373-0021. Let us know where you are, whether you are buying, selling, or both, and what your needs are. We are here to provide comprehensive assistance based on your unique situation. Contact us today – we are standing by!

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Is Now the Perfect Time to Invest in an Income Property?

Is Now the Perfect Time to Invest in an Income Property?

Investing in an income property can be a savvy financial decision. It’s a great way to bring in essentially passive income, and if you buy a newer property in good shape, you shouldn’t have to do much upkeep. There are a few reasons that now is a great time to invest in income property but there are also a few reasons that it may not be the best time. Keep reading to learn more about both sides of the equation.

Job growth, consumer confidence, and a strong market are good signs

As you consider investing in income property, you want to look at the local and national markets as a whole. The good news is that for several years the economic news has been good. There is once again growth in many sectors, and investors and developers are feeling confident about new ventures. On their end, consumers are more likely to make an investment today than they were ten years ago. These are all good signs for income property investment.

Higher rents mean more profit

Throughout most of California, rents are at an all-time high. This is even truer of multi-family properties. Depending on where you live throughout the area, other types of income properties like retail, office, and industrial may be on the rise too. Investing in a property that you could earn significant rent on could end up being one of the best investments you ever make.

Affordable interest rates are a good reason to invest in income property now

Interest rates have been at historic lows for a while now and experts do not expect this to continue indefinitely. While we do not know for sure when they will go up, we can say with reasonable certainty that they are indeed going to go up. As other companies start to get interested in income properties they are likely to jump on the band wagon and you want to get your interest rates locked in before that happens.

You need the right broker to find the right income property

The truth is that you need the right California Realtor to find the right income property. If you decide that now is the right time to invest in income property you can bet that others have made the same decision. As a result, the inventory can get low. This may lead some to become desperate and jump at any listing they see. This is never a good idea.

When you work with Berkshire Hathaway HomeServices California Properties you can trust that we will use our long-term experience to keep an eye on the listings. As soon as something that fits your needs is available we will make you aware of it. We do not believe that you should settle for less than the perfect property. We also offer mobile resources that ensure you are always in the know about what is available. Reach out at 310-373-0021 to learn more.

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How to Find the Best Luxury Real Estate Agent

How to Find the Best Luxury Real Estate Agent

Whether you’re looking to buy or sell a luxury property, you need more than just a real estate agent. You need someone who’s experienced in marketing, selling, and finding luxury properties. We can help you at Berkshire Hathaway HomeServices California Properties. Read on to learn more about our luxury collection services and then contact us at 310-373-0021 to start the process.

The four steps to complete

In a nutshell, there are four steps you’ll complete when choosing a luxury real estate agent:

  1. Check their website and learn about their experience.
  2. Request referrals from past clients.
  3. Ask them if they specialize in luxury transactions.
  4. Have an interview with them to make sure that their values, approach to the job, and attention to detail are on par with your needs.

Special tip: Be a good client

As you’re looking to buy or sell a luxury home, it’s understandable that you might focus entirely on what the agent can bring to you. However, note that the best agents are often in high demand. Do what you can to be a good client as well. This means knowing what you want, knowing what you need, and being serious about moving on any homes you love.

Tips for buyers

You need a buyer who understands and appreciates your taste. This is especially true if you’re buying property in California but live in New York City, Hong Kong, etc. You need an agent who can look at potential homes and come to you with a curated, shortlist of properties that are worth flying in to view.

Tips for sellers

When you talk to a potential agent, ask to see marketing materials they’ve prepared for other similar properties. Some agents do more than others. Some have top notch marketing teams, the latest tools, and innovative materials. Some know your neighborhood and can easily offer comparables so you can get a realistic idea of how to price your home. In short, though a wonderful house is easier to sell than one that’s less impressive, even the best house on the planet needs a dedicated, hardworking, experienced agent to get you the best price for your home.

How to gauge a luxury real estate agent

If you’ve never worked with a luxury real estate agent then you likely aren’t sure what to look for. First, look for an agent with a history of sales in the price range your home is in. Look for an agent who has worked in your city for many years. Finally, look for an agent that has a global reach too, so they can increase the number of potential buyers or sellers.

No matter what type of home you’re looking to buy or sell, you can count on Berkshire Hathaway HomeServices California Properties to be there for you every step of the way. To get started, call us at 310-373-0021.

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The 4 Factors That Will Be Included in Your Free Home Value Report

The 4 Factors That Will Be Included in Your Free Home Value Report

When a homeowner decides to sell their home, one of the first things they want to know is how much their home is worth. The truth is that the value is found by looking at a number of factors. When you work with Berkshire Hathaway HomeServices California Properties, our experienced agents can give you an accurate idea of the value of your home. We’ll also provide a free home value report so you can see for yourself how the numbers add up.

  1. We’ll start with our ProValue Estimate
  2. Lenders across the country create estimates of what a home is worth when they extend loans to potential buyers. Our ProValue Estimate is created using the same technology those lenders use. If you want a truly accurate estimate that’s not just a stab in the dark, then this is the estimate you’re looking for.

  3. A price history of your home
  4. We’ll also give you full details on the price history of your home. This includes the amount that your home was sold for when it was sold and how much the tax assessor believes your home is worth. In many areas throughout California, home prices are on the rise so this would be a starting point – not an accurate idea of what your home is worth today.

  5. Comparable sales in your neighborhood
  6. Next, we’ll look at similar homes in your neighborhood and what they sold for. If there aren’t any that are exact matches to the general square footage, number of bedrooms, number of bathrooms, etc. then we’ll find the closest we can and discuss how we can adjust your home’s selling price accordingly. For example, if a home down the street had two fewer bathrooms than your home, then we’d look at the price it sold for but adjust yours upward to account for the extra bathrooms.

  7. A snapshot of your local market
  8. Finally, our free home value report will give you comprehensive details on sales prices within your ZIP code. This will include homes that sold in recent months, how much they sold for, how much the asking price was, and how long they were on the market. You can sit down with us to discuss these details and figure out a good place to position your home when you put it on the market.

Are you ready to learn more about how to price and sell your home?

The good news is that you are not alone in this process. By working with Berkshire Hathaway HomeServices California Properties, you will have seasoned experts on your side. We know these homes, we know these areas, and we know how to showcase every unique aspect of each home we work on. Are you ready to get your free home value report? Just contact us at 310-373-0021 or fill out our contact for online. We look forward to helping you get a fair price for your incredible home.

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The 5 Most Important Tips for Selling a Home in California

The 5 Most Important Tips for Selling a Home in California

When selling your home, most homeowners have two main goals: Selling their home as soon as possible and getting the best price they can. The best way to achieve both goals is to be educated on your home, the process of selling a home, and the best ways to maximize selling power. Your best bet is to contact Berkshire Hathaway HomeServices California Properties and let us help you directly. Otherwise, you can read on for five must-follow tips for selling your California home.

  1. Staging can make all the difference
  2. The way your home looks to buyers is essential – this is likely not news. However, many people don’t realize that staging should include not just the interior but also the exterior of their home. A home that’s freshly painted, has beautiful landscaping, and is otherwise well-tended from the outside is going to be much more attractive to buyers than a home that looks like the exterior could use a little work.

  3. Compete by improving your home’s condition
  4. Like it or not, you’ll be competing with other homes on the market. The best way to win in those competitions is to have your home as updated and free of needed repairs as possible. This includes taking care of minor nicks and scratches, doorknobs that aren’t working correctly, or handles that don’t look right. Homebuyers notice the little things and if your home is flawless, they’ll remember that too.

  5. You have to be realistic about pricing
  6. Home buyers in this day and age are extremely savvy. They know what comparable homes are selling for in your area. They know what type of work would need to be done on your home. They know what’s good about it and what’s bad about it. To ensure that your home is competitive, you’ll need your agent or broker to find sales prices of homes in your area that have sold in the last month. Then consider listing at 10-15% below that number. Why? Because homes that appear to be a great deal will get more people visiting them, and that can lead to multiple offers.

  7. Know who you’re competing with
  8. You must know what else is on the market and how your home compares to it. Your agent or broker will work directly with you to ensure you have all the relevant information about the price, type, and condition of homes that are currently selling. The truth is that a how that doesn’t get buyers looking at it isn’t going to sell. Make sure that your home is as convenient as possible to show.

  9. It’s worth it to work with the professionals
  10. If you’re like most people, then your home was the largest investment you’d made in your life. To ensure that the process of selling it goes as well as possible then you need an agent who understands the industry and can find the best methods for selling your home quickly at the best possible price. Contact Berkshire Hathaway HomeServices California Properties at 310-373-0021 to get started.

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Don’t Buy Your First Home Until You’ve Read These 5 Tips

Don’t Buy Your First Home Until You’ve Read These 5 Tips

Buying your first home is one of the most exciting things you’ll ever do. It’s also one of the more overwhelming things you’ll ever do. The good news is that Berkshire Hathaway HomeServices California Properties is here to help you through the process. Read on to get five must-know tips and then contact us at 310-373-0021 if you’re ready to start the process.

  1. Don’t go it alone
  2. If you’re like most people, your home is one of the biggest investments you’ll ever make. You want the transaction to go smoothly, which all starts with working with the right agent. You need someone with experience. You need someone you feel comfortable with and who listens to your needs. You need an agent that knows the area you’re buying in. You’ll find all this and more with Berkshire Hathaway HomeServices California Properties.

  3. Get pre-approval
  4. Do you know what your budget is? Do you know what you can afford? You don’t want to make the mistake of looking for a home before you know what you can really afford. Who wants to find the perfect home, only to find that it’s actually out of your price range? Talk to a lender about the financing options. Once you’ve found the right lender to work with, have the paperwork processed so that when you find the right home, you’re ready to buy.

  5. Don’t make large purchases before you get approved for a mortgage loan
  6. When a lender looks at your loan application and determines how much home you can afford, they’re going to be looking at your debt-to-income ratio. They will look at your pre-tax income and determine how much is / should be spent on debt. This debt ratio is going to include student loans, car payments, current housing costs, credit cards, etc. If you take on more debt right before trying to get a mortgage loan, it could impact your ability to get approved for the amount you want.

  7. Sign up to get notified of new properties
  8. In order to make sure you’re making a decision that’s as informed as possible, you’ll want to start by looking at what’s available and how much it’s selling for. You can start now by looking at the active listings on your website. Once you’ve found a few you like, then you can save the searches that got you there. Then simply sign up for notifications of new listings that fit those search criteria. Remember that homes in this area can move fast – you want to be on top of any new inventory that becomes available.

  9. Have the potential new home inspected
  10. No one wants to buy a home that’s full of defects they were unaware of. To prevent this, have a licensed home inspector look at your potential new home. Note that their report doesn’t have to come back entirely clean, but if there are issues you’ll want to take them into consideration when deciding if you should make an offer and when deciding what that offer will be.

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Four Things You Should Do Before Starting Your Home Search

Advance preparation will help you get ready to pounce on your ideal home when you see it

Four Things You Should Do Before Starting Your Home Search

Are you considering purchasing a new home? You may be tempted to start exploring this idea by browsing for dream homes online. While this may give you a nice fuzzy feeling, it’s not the most practical way to proceed. In order for the home buying process to go as quickly, smoothly, and satisfyingly as possible, you need to be more methodical about it.

It’s especially important to be prepared well in advance of your hopeful purchase date, so that you can recognize and act on the perfect opportunity when you see it. Here are four things you should do to prepare yourself before you even start looking at listings.

Develop Your Vision

Spend some time articulating your vision for the ideal home for your family. At this point, you should focus on how you want the home to fit into your daily life, rather than what it looks like. Think about how long you want your commute to be, whether you want your kids to be able to walk to elementary school, whether you want to be near a park, etc. Also consider how your needs may change with time and how this could affect your ideal home. With your vision intact before you start your home search, you are less likely to fall in love with a property that isn’t really a good long-term fit.

Recruit Your Team

Your real estate agent and your mortgage broker will play a key role in helping you purchase your new home. So don’t make the selection of these professionals an afterthought! Instead, take the time to find a team you are really comfortable with. When choosing your real estate agent, be sure to look for someone with experience in the specific local market you want to buy in.

Check Your Credit

To avoid unpleasant surprises when you’re trying to get approved for a mortgage, it’s wise to check your credit before you start the mortgage application process. You may be surprised to discover errors on your credit report that are dragging your credit score down and preventing you from accessing the very best financing. You may also find that you need to pay down some outstanding bills in order to improve your credit. By being proactive about investigating your credit, you will give yourself time to correct any issues. You can get a free credit report from the website AnnualCreditReport.com.

Save Cash for Closing

Hopefully you already have some cash saved for your down payment. A good target might be 10 to 20 percent of your expected purchase price. However, there will be additional expenses to pay at closing, and you definitely don’t want to get caught short. Your mortgage broker can help you get a better idea of what these costs might be in your situation, so you can plan accordingly and make sure you have plenty of cash before you start your home search.

Ready to Start Your Home Search?

If you’re ready to start looking for a new home, contact Berkshire Hathaway HomeServices California Properties today. We have plenty of local market experts on staff.

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4 Tips to Help Buyers Choose a Home Inspector

Learn what a home inspector does and why choosing a good one is so important

4 Tips to Help Buyers Choose a Home Inspector

For home buyers, gut reactions are important. This is why sellers are so careful to do everything in their power to create ample curb appeal that will make buyers fall in love at first sight and become emotionally attached to the property long before they consider the technicalities of purchasing.

However, when buying a home, you don’t want to rely on emotion alone. You need to consider many other factors, including the condition of the home. Having a qualified home inspector examine the property before you seal the deal is an inexpensive way to get accurate, detailed information about the home that could save you from unwittingly purchasing a property that is in need of major repairs.

What Does a Home Inspector Do?

In a general inspection, a home inspector goes over all the vital aspects of a home including the structure, exterior, roof, wiring, plumbing, insulation, ventilation, HVAC system, and more. They will provide the buyer with a report detailing any problems that are found. The buyer can then negotiate with the seller to either make repairs before the sale or reduce the price of the home to allow the buyer to complete repairs or improvements later.

Tips for Choosing a Home Inspector

  1. Check Experience. Doing a home inspection right takes experience and knowledge. Before you hire a home inspector, check on their background. Look for an established company and/or an individual with many years of experience. Ask about their formal training and any ongoing education they may be involved in.
  2. Ensure Accountability. Your home inspector should stand behind the quality of their work. They may carry Errors & Omissions insurance, which will cover you if they make a mistake in their inspection or report. They may also offer their own written guarantee that if a system they have cleared ends up failing within a certain period, they will pay a third party to repair it for you.
  3. Discuss Additional Services. The general home inspection covers many of the features you need information about, but not all of them. For example, if you need a septic system inspection, a mold inspection, a radon inspection, or a termite inspection, ask if the home inspector can handle these additional services. If so, you will have fewer appointments to keep track of and you may get a discount for bundling multiple services.
  4. Plan to Attend the Inspection. You will definitely want to make sure the home inspector is open to buyers tagging along on the inspection. Being present during the inspection can help you have a better understanding of the final written inspection report. It may also give you the opportunity to have the home inspector show you how to work various systems in the home.

Remember, as a home buyer you are making one of the biggest investments of your life. It is important to know what you are getting for your money. A home inspector is just one of the professionals you will need to help you do this. You will also need an experienced local real estate agent. The agents from Berkshire Hathaway HomeServices California Properties are ideally positioned to help you purchase the home of your dreams at a great price. Contact us today.

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