Why Isn’t My Vacant Home Selling As Fast As Others in El Dorado Hills

January 14, 2012 Leave a comment

El Dorado Hills CA – Selling a home is part financial, part logic, and a lot of emotion. Everyone knows that feeling when you walk into the home that’s “the one”; you get that

El Dorado Hills Homes | Presented By El Dorado Hills Realtors

breath taking feeling, the butterflies in the belly and that instant view of your family sitting on that couch in front of the fireplace on a cool fall evening. Those are all emotional aspects and selling a home is definitely based upon the emotions of the buyer.

When you’re selling a home you have to appeal to the emotions of the potential buyer as well as their financial desires. If your home has absolutely no furniture in it you may find that the potential buyer spends more time on trivial things like chipped paint, spots on the carpet and cracks in the plaster. They notice unmatched patches from where paintings were and the way the carpet is more worn in one area than in others. These trivial things are things that, if there were furniture in the home to distract their attention a bit, they probably wouldn’t even notice; but without furniture they stand out quickly.

Of course obvious problems like a huge crack down a wall is going to be noticed with or without furniture; but if you have all of the paintings and decorations hanging on the walls when they’re looking they’re going to see the style and accents of the home instead of the outline of where the paintings were. They won’t be seeing where the walls are faded and thinking ‘this room definitely needs painted’ and adding it to the check list of work they’ll need to do to make this their perfect home. If you have a couch and chair they’re not going to notice where the wearing of the rug may be as it’s pretty rare buyers will pull furniture out to look under and behind it. Those small paint chips at the baseboards from typical wear and tear aren’t going to be as noticeable. They’ll be busy seeing how well you fit in an entire dining room set along with a large china cabinet and a small accent table into the dining room, realizing how big it is as opposed to seeing it appear smaller and wondering if it will fit their entire dining set.

El Dorado Hills Homes | Presented By El Dorado Hills Realtors

To a buyer looking at an empty room they see ‘work that needs to be done on the home’ and ‘uncared for little things’ as opposed to when they move into it seeing the house empty for the first time when they’d call these same issues a few simple fixes for the “Honey Do List”.

A room filled with furniture is much more “homey” and inviting than an empty, voice echoing house. It’s so much easier to find warm feelings and a welcoming atmosphere in a house that feels lived in with furniture and some personal surroundings. Many people actually rent furniture; staging their home to make it look lived in. Doing this puts more emphasis on the coziness of the home as opposed to the little imperfections. It’s a proven fact that a home will sell faster when it feels inviting and lived in, so it may be worth raiding your family room and doing without a few seats or renting a few rooms of furniture for a month while you have Open Houses and are trying to sell your home. You want the potential buyers to easily picture their family in your home, so making sure your house is staged to look lived in. Give the potential buyers an old fashioned, welcome home feeling the minute they walk in.

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the FolsomReal Estate blog and we look forward to serving you and your real estate needs.

Real Estate Inventory In Folsom Ca January 2012

January 14, 2012 Leave a comment

Folsom Real Estate | Presented By Folsom Realtors

The inventory in Folsom Ca is down as of 1/11/12, we are at 1.6 months of inventory. Normal should be about 3 to 3.5 months of inventory. So with this said the demand is really high and you are going to see multiple offers on homes. Don’t focus so much on the purchase price but if you really like the home what do I have to do to get into contract. There is multiple ways to structure the contract and still get the buyer a good deal on some Folsom Real Estate!

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the FolsomReal Estate blog and we look forward to serving you and your real estate needs.

When Your Loan Doesn’t Close on Time

January 13, 2012 Leave a comment

homeowners sitting on couch on computer

It’s not all about rate!

When you are shopping for a lender, keep in mind that when the transaction doesn’t close on time, nobody wins.

Real Consequences

When your loan doesn’t close on time

  • Financing contingency lapse
  • Seller unwilling to extend
  • Losing earnest money
  • Per diem seller charge (IF they agree to extend)
  • Losing to a back-up offer
  • Lock extension costs
  • Altered moving plans
  • Temporary housing costs

When the financing piece of your transaction doesn’t close on time, there are many unintended consequences — beyond the fact that the property is now out of contract.

Many national banks and lenders are unable to perform and close loans in a timely fashion. Be sure to work with a Mortgage Lender that you can trust and has a good track record of closing on time.

Be very cautious of using on-line lenders. I prefer:

  • Local Lending
  • Local Decisions
  • Local People

If you are looking to purchase a home, I would be happy to help you out. I can also refer you to a local lender that will sit down with you to review your real estate needs and goals to help find you the best home loan.

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the FolsomReal Estate blog and we look forward to serving you and your real estate needs.

Real Estate Market Trends

January 10, 2012 Leave a comment

Existing Home Sales Report

Existing-home sales increased in November and remained above the pace set last year, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops were up 4 percent to a seasonally adjusted rate of 4.42 million units expected to sell in 2011. This represents a 12.2 percent increase over the pace set last year at this time.

Existing Home Sales By Region

Lawrence Yun, NAR chief economist, sees more buyers taking action. “Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing,” he said. “We’ve seen healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today’s market for buyers with long-term plans.”

Total housing inventory fell 5.8 percent in November to 2.58 million existing homes available for sale, representing an 7 month supply of homes at today’s current sales pace. Inventories have been gradually shrinking from their record levels of 4.04 million set in July 2007.

Another Mortgage Rate Decrease

Freddie Mac reported that mortgage rates fell to new record lows in November 2011. The average commitment rate for a 30-year fixed-rate mortgage dropped to 3.99 percent, down from 4.07 percent from October, and 4.30 percent offered one year ago. NAR president Moe Veissi explains that housing affordability has hit a new high. “With record low mortgage interest rates and bargain home prices, NAR’s housing affordability index shows that a median-income family can easily afford a median-priced home,” he said.

Contact us for our preferred list of local mortgage planners and take advantage of today’s low interest rates!

Five Winter Staging Tips

When selling your home in the winter, the art of staging the inside becomes more important.  Here are five simple tips that can help you sell your home shine even when the outside landscaping has faded:

  • Keep your house warm.  In the winter people tend to turn the thermostat down to save money, however a warmer house is more welcoming to a potential buyer.
  • Clear your walkways and driveways of any snow or ice.  Make it easy for buyers to get to your home.
  • Clean the windows and blinds.  Letting in the natural light can brighten up a room and cheer up the home.  This also brings attention to the windows and blinds so make sure they are clean even during winter.  Dirty windows will make the home seem as those it’s not well maintained.
  • Background music played softly can completely change the atmosphere making the home seem cozy and keep potential buyers around longer.  Stick with classical music which can appeal to anyone.
  • Leave the light on.  Before showing a home, make sure it’s well lit.  A well lit home is more inviting.  If you’re not home, consider setting up timers.

Following these simple tips can give your house that added boost in today’s competitive market. For information on selling in our local market, please feel free to call and ask for a computer analysis of our recent market activity. We would be more than happy answer any questions you might have!

 

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the FolsomReal Estate blog and we look forward to serving you and your real estate needs. 

Top 3 tax breaks for homeowners in Folsom & El Dorado Hills

January 9, 2012 Leave a comment

Folsom Homes | By Folsom Realtors

1. Mortgage interest  deduction. Assuming this home is your personal residence, 100 percent of  the mortgage interest you owe and pay before Dec. 31, 2011, is deductible on  your 2011 taxes. In January, your mortgage lender will send you a form  documenting the precise amount of interest you paid, although most lenders also  now make this form immediately available to borrowers online.

Chances are good that you paid some amount of advance  interest on your home loan at closing — expect to see that on your statement  from your lender, but you should also be able to find it on the HUD-1  settlement statement you received from your escrow agent at closing.

2. Property tax  deductions. Again, assuming that this is the home you live in most of the  time, you should be able to deduct 100 percent of the property taxes you’ve  paid to your state and/or local taxing agency this year.

3. Closing-cost deductions.  Discount points and origination fees paid to your mortgage lender and/or broker  at closing are frequently deductible, but there are rules around this, which  tax software and/or professionals can help you make sure you meet. Also, state  and local transfer or stamp taxes paid at closing are generally deductible on  your federal returns.

Beyond these basics, there are various home improvements  (especially those that increase your home’s energy efficiency), state and local  tax credits for buying a foreclosure, and other tax advantages that might be  available to you.

My advice is to work with an experienced, local tax preparer  or, at the very least, use reputable tax preparation software to ensure that  you get the maximum tax advantages available to you as a result of your new  role as a homeowner.

(IRS  Publication 530 offers a more nuanced view into Tax Information for  Homeowners):

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the Folsom Real Estate blog and we look forward to serving you and your real estate needs.

El Dorado Hills Real Estate Numbers November 2011

January 7, 2012 Leave a comment

November 2011 total single family detached homes SOLD in El Dorado Hills  was 65. That is 2% more than the same time last year. The Median home price for El Dorado Hills  is $385,000, down 7% from this time last year. The highest price sell for November 2011 in El Dorado Hills was $975,000. Average price per square foot in El Dorado Hillsis at $153.00, just down less then 1% from this time last year.

El Dorado Hills Homes | By Eldorado Hills Realtors

Comparing 2010 to 2011, on the positive there as one more home SOLD in El Dorado Hills  for the month of November 2011 vs. 2010! Ok so the Median home price fell $27,000 vs. last year’s Median home price in El Dorado Hills. What does all this mean for 2012? The reason for the increase in sales for the later part of 2011 is because of the extremely low interest rates and customer confidence is on a slow pace back to the up side. Consumers in the El Dorado Hills housing market are realizing that now is the time to buy going into 2012! You still have super low interest rates, and Homes in many El Dorado Hills neighborhoods are now at prices the average consumer can afford.

Will prices and rates go back up? Only time will tell, but if you are considering buying a home in El Dorado Hills, now is the time to jump on the bandwagon and take advantage of low rates, and great prices! If you are considering selling your home in El Dorado Hills, and moving up to your dream home, there is no better time than now.  You may need to sell at a lower price then you ever thought you would, but you can also buy that dream home at a lower cost, and at lower property taxes!

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the Folsom Real Estate blog and we look forward to serving you and your real estate needs.

Folsom Real Estate Sales Numbers Novemeber 2011

January 7, 2012 Leave a comment

November 2011 total single family detached homes SOLD in Folsom was 78. That is 24% more than the same time last year. The Median home price for Folsom is $310,000, down 5% from this time last year. The highest price sell for November 2011 in Folsomwas $827,000. Average price per square foot in Folsom is at $159.00, just down 5% from this time last year.

Folsom Homes | By Folsom Realtors

Comparing 2010 to 2011, on the positive there were 18 more homes SOLD in Folsom for the month of November 2011 vs. 2010! Ok so the Median home price fell $16,000 vs. last year’s Median home price in Folsom. What does all this mean for 2012? The reason for the increase in sales for the later part of 2011 is because of the extremely low interest rates and customer confidence is on a slow pace back to the up side. Consumers in the Folsom housing market are realizing that now is the time to buy going into 2012! You still have super low interest rates, and Homes in many Folsom neighborhoods are now at prices the average consumer can afford.

Will prices and rates go back up? Only time will tell, but if you are considering buying a home in Folsom, now is the time to jump on the bandwagon and take advantage of low rates, and great prices! If you are considering selling your home in Folsom, and moving up to your dream home, there is no better time than now.  You may need to sell at a lower price then you ever thought you would, but you can also buy that dream home at a lower cost, and at lower property taxes!

Folsom Homes | By Folsom Realtors

Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific  Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the Folsom Real Estate blog and we look forward to serving you and your real estate needs.