Thursday, January 11, 2018

PRE-LISTING INSPECTIONS PUT SELLERS IN CONTROL

Source: REALTOR®Magazine


In the typical real estate transaction, the buyer is the one to order a home inspection. But sellers, too, can request a professional assessment of their home before putting it on the market. A pre-listing inspection provides sellers with upfront information about the condition of their property, which gives them more control over repairs and potentially strengthens their negotiating position.
Few sellers take advantage of this opportunity, according to Steve Wadlington, president of national home inspection services company WIN Home Inspection. “I don’t expect pre-listing inspections to become mainstream in my lifetime,” he says. Lack of awareness contributes to the underutilization, Wadlington adds, but he also acknowledges that sellers may be reluctant to spend the money for such services.
Additionally, sellers and their agents have a legal duty to disclose to buyers any property issues that are revealed in a pre-inspection report. REALTOR® Magazine spoke with Wadlington about how pre-listing inspections can boost home sales and help sellers defend their asking price.
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Thursday, January 4, 2018

NO END IN SIGHT: HOUSING MARKET STILL HAS LEGS, ECONOMISTS SAY

Source: The Orange County Register

After nearly six years of rising home prices, what’s next?

Will 2018 be the seventh year home prices go up? Or the year the market stalls? Will this be the year that tenants get the upper hand over landlords? Or will rent hikes just keep coming?

In other words, will the seller’s market of the past 69 months continue in 2018?

We interviewed 10 economists and reviewed nine forecasts to find an answer to that question. It can be summed up in one word.

Yes.

Yes, home prices and home sales are projected to keep rising in the year ahead, although the gains will be smaller. Yes, the supply of homes for sale will fail to keep pace with demand, fueling more cutthroat bidding wars. And yes, rents will keep rising while apartment vacancies stay near all-time lows.

The economists all cite the same reason: “As long as the economy keeps growing, that’s going to give a push to the housing market,” said Anil Puri, director of the Woods Center for Economic Analysis and Forecasting at Cal State Fullerton.

Southern California home prices are expected to rise at about the same pace as California: 4.2 percent, according to the California Association of Realtors. That would put next November’s median price of an existing house at about $525,000.

Sales have plateaued across the state and region, said California Association of Realtors Chief Economist Leslie Appleton-Young.

“The lack of inventory and affordability are really … keeping a lid on the California housing market,” Appleton-Young said. “We have fewer transactions … today than when we had 10 million fewer people living in California.”

Read the full story





Thursday, December 28, 2017

SURVEY: MOST SAY TAX LAW WILL CHANGE THEIR PLANS TO BUY A HOME

Source: The Mercury News

Three out of four potential homebuyers responding to a recent online survey said the newly passed GOP tax overhaul will alter their plans to buy a home, according to a nationwide poll released Thursday, Dec. 21, by Realtor.com.

Nearly 30 percent said they plan to speed up their home purchase, with 31 percent saying they’ll postpone a purchase, the survey showed.

Twenty-six percent said they either will buy a less expensive home or buy in a different location.

Just 23 percent said the tax bill will not change their plans to buy a home.On the seller side, most said the tax bill won’t affect them.

Fifty-seven percent said the new tax law will have no impact on plans to sell their home.

Congress voted Wednesday, Dec. 20, to send the bill to President Donald Trump for his signature. The findings are based on a survey of 2,324 randomly selected respondents surveyed Monday and Tuesday.

Almost a fourth of those surveyed said they had planned to buy a home in the next year, while just over a fifth said they’re planning to sell their home in the next year.

Read the full story


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Monday, October 23, 2017

Five Most Common Exterior Renovation

When your time to sell your current home comes, and you are in doubt of where you should spend your money on to generate the highest return, installing a new roof clearly tops all others at 109% value recovered.

Here are the Top Five most-common exterior renovations and how appealing they are to potential buyers at resale.


Statistic has been provided by the National Association of REALTORS®.


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Saturday, October 21, 2017

Santa Barbara Association of REALTORS® V. City of Santa Barbara

Santa Barbara Association of REALTORS® has filed a suit against the City of Santa Barbara regarding the City's Zoning Information Report (ZIR) ordinance.

If your property is located within the Santa Barbara City Limits, and you have decided to sell your home, obtaining a ZIR report is a must. Inspections are conducted by City inspector who is nighter a building inspector or licensed surveyor. The cost for this report starts at $475.00.

Santa Barbara Association of REALTORS® have fought before with the Zoning Department of Santa Barbara and was able to ease up the process to a point. Currently, the City's ZIR ordinance allows the minor violations to be carried on until a future permit is needed. However, anything considered a major violation, must be brought up to code and current standards. According to the KEYT News Channel sometimes those reports were found wrong. Therefor, homeowners are getting stuck for big expenses for repairs that they never knew were needed.

For details on the suit please visit:

https://pacificlegal.org/case/santa-barbara-association-of-realtors-v-city-of-santa-barbara-and-santa-barbara-city-council/

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Friday, October 20, 2017

JUST LISTED | 1272 Petersen Ave, Solvang | $1,125,000

Magnificent quality model home in Skytt Mesawith gorgeous upgrades.

Hristo Hristov, Berkshire Hathaway HomeServices California Properties

1272 Petersen Ave featuring three lovely large bedrooms and baths, including a fabulous master suite with a fireplace. Open concept Floorplan and gourmet kitchen with multiple dining and living rooms. This single level home features a wine room with designer cork walls, perfect for games or exclusive office.

Exquisite features and fixtures throughout including granite countertops, stainless steel appliances, custom tile flooring and coffered ceilings in great room, upgraded backsplash at each counter top, custom tile flooring, over-sized doors and a beautiful private yard and gardens that have been perfectly manicured. Spa is included adjacent to the master suite. Three full garage spaces with plentiful parking.

This home is tastefully designed for entertaining and your upscale lifestyle.


Call TODAY for your private tour!

For more details regarding this top-notch home please visit the  MLS link HERE.

For any other Real Estate needs simply visit www.HSHristov.com

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PRE-LISTING INSPECTIONS PUT SELLERS IN CONTROL