Monday, December 16, 2013
Tuesday, April 16, 2013
Waiving Your Appraisal Contingency-Good Idea or Bad?
Buyers, right now let's face it, there seems to be a shortage of homes on the market. There actually has been for quite a while, but it has gotten worse which means that prices are going up once again. Good for sellers, bad for buyers.
With that in mind, many buyers are having to sign a counter offer from the seller which is removing one thing that actually has been in place to protect the buyers from over paying for a home...the appraisal. Once the appraisal contingency has been removed, the buyer must understand that they will have to make up the difference in the sales price to the appraised price and this could be a substantial amount of money. I have seen homes appraise for $10,000-$50,000 more than the list price. So, eliminating the appraisal contingency is a risky business because you could lose your deposit that you put down in the first place when you opened up escrow.
The market is hot, prices are soaring and this has created this frenzy of supply and demand. Appraisers and realtors alike are having trouble even pricing homes in this market. Realtors can only do our best to look at comparable homes that have sold, but when everyone seems to be willing to over pay for homes, prices are just going up it seems quickly. We don't know what the homes are closing for that still have not closed. Many agents are not cooperating if we call them (and I have called a few to ask them what they did open escrow with) to let us know because it seems it's a dog eat dog world amongst other agent who don't want to help other agents either. Some agents get upset that you have a possible listing in their "farm area" and don't want to help. So, we have to sit and wait to see what that house closed for and so we wait.
Many agents advise their clients that they can get out of the escrow if they don't like the amount that the house appraises for and they tell their clients they can get out for other reasons. This is true to some degree that if they don't like how the inspections come out-say there is a leak in the roof etc or some type of mold etc. They have that contingency they can get out of buying the house with. This is true...but many agents are tightening the inspection periods some to 7 days which means you would have to have the inspections all complete before that time period. What can be a damper is getting an appraiser out there quickly with this market or even getting the appraisal back quickly. You could have all the inspections done and not have anything wrong with the home. Or should I say nothing substantial. And, not have a reason to not buy the house. Then you have the appraisal come in for a lot more money and have to pay the difference from the sales price to the appraised price.
One thing I have my buyers sign the the CAR form called Market Conditions Advisory. Meaning they know they know that I don't control the market when it comes to prices and they are in control making the decision to buy at the price they do.
So, removing the appraisal contingency up front is up to you. If paying more for a house is worth it to you to get the house now, then it is worth it for you. Sometimes, if you want a house, you need to do what you need to do to obtain it. If that means paying more than the list price, then do so. And, if removing your contingency that was there to protect you in the first place for the appraisal is something you want to do, it is your choice after all.
Kind Regards,
Joan Patterson, B.A., G.R.I., A.S.P., Realtor, License #01431647
951-204-1864
http://inlandempirerealestate.kwrealty.com
With that in mind, many buyers are having to sign a counter offer from the seller which is removing one thing that actually has been in place to protect the buyers from over paying for a home...the appraisal. Once the appraisal contingency has been removed, the buyer must understand that they will have to make up the difference in the sales price to the appraised price and this could be a substantial amount of money. I have seen homes appraise for $10,000-$50,000 more than the list price. So, eliminating the appraisal contingency is a risky business because you could lose your deposit that you put down in the first place when you opened up escrow.
The market is hot, prices are soaring and this has created this frenzy of supply and demand. Appraisers and realtors alike are having trouble even pricing homes in this market. Realtors can only do our best to look at comparable homes that have sold, but when everyone seems to be willing to over pay for homes, prices are just going up it seems quickly. We don't know what the homes are closing for that still have not closed. Many agents are not cooperating if we call them (and I have called a few to ask them what they did open escrow with) to let us know because it seems it's a dog eat dog world amongst other agent who don't want to help other agents either. Some agents get upset that you have a possible listing in their "farm area" and don't want to help. So, we have to sit and wait to see what that house closed for and so we wait.
Many agents advise their clients that they can get out of the escrow if they don't like the amount that the house appraises for and they tell their clients they can get out for other reasons. This is true to some degree that if they don't like how the inspections come out-say there is a leak in the roof etc or some type of mold etc. They have that contingency they can get out of buying the house with. This is true...but many agents are tightening the inspection periods some to 7 days which means you would have to have the inspections all complete before that time period. What can be a damper is getting an appraiser out there quickly with this market or even getting the appraisal back quickly. You could have all the inspections done and not have anything wrong with the home. Or should I say nothing substantial. And, not have a reason to not buy the house. Then you have the appraisal come in for a lot more money and have to pay the difference from the sales price to the appraised price.
One thing I have my buyers sign the the CAR form called Market Conditions Advisory. Meaning they know they know that I don't control the market when it comes to prices and they are in control making the decision to buy at the price they do.
So, removing the appraisal contingency up front is up to you. If paying more for a house is worth it to you to get the house now, then it is worth it for you. Sometimes, if you want a house, you need to do what you need to do to obtain it. If that means paying more than the list price, then do so. And, if removing your contingency that was there to protect you in the first place for the appraisal is something you want to do, it is your choice after all.
Kind Regards,
Joan Patterson, B.A., G.R.I., A.S.P., Realtor, License #01431647
951-204-1864
http://inlandempirerealestate.kwrealty.com
Friday, April 5, 2013
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Website-http://inlandempirerealestate.kwrealty.com
951-204-1864
Give me a call today if you are looking to buy or sell real estate in the Inland Empire. I specialize in equestrian properties in the Inland Empire. You can give me a call at 951-204-1864.
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Wednesday, March 27, 2013
Rental Scam Information
It always makes me so mad when people take advantage of other people and rip them off. I get so angry that it makes my skin boil when I find out that someone has done something so wrong to someone. The rental industry has really risen due to many things happening in our economy. So, once again, the vultures will always be out there looking to make easy money off some unsuspecting person. And, this may be all the money they have for a while...they have been saving up for first month's rent, last month's rent and a deposit. In some cases, this could be a substantial amount of money...easy money for those out there trying to make money by basically STEALING from some non-suspecting renter. UGH!!! I get so mad at these types of people.
Here are some scenarios I have seen and I am sure there are more, but please beware of the wolf in sheep's clothing. Just keep some of these in mind when you are out there looking for a rental.
1-If the rental seems TOO GOOD to be TRUE...it probably is. This means if the rental rate is below normal for the neighborhood...BEWARE! You may see a 3 bedroom home in Rancho Cucamonga renting for $1000 and if you go some of the rental sites, you may see it should really be renting for $2,500 a month...be careful! You can go to rentbits.com to check out what the average rental prices are for homes in your area.
2. You may get an email if you applied for a Craigslist rental. Be careful if it has misspellings, too many words capitalized, does it start out with Dear Madam or Sir? Is there anything in the email that references the UK, cashier's check, Nigeria, God, Reverend, Pastor, etc? Is the email from an email provider that is FREE such as yahoo, AOL, hotmail, gmail etc? If the email you received has many of these items, it could be a scam.
3. Another scam is on a free classifieds site and the rental price is LOW again. Scammer tells renter that he is out of the country on business and asks the prospective renter to wire him money to HOLD the house for them. And bingo...the money is gone, and no house is really available to rent.
4. One more scam I have heard of is the scammer will say they own a house and they don't. They tell the prospective renter they will take a deposit to hold it for them until they can get a key to get inside as they lost their only key. And, wooolaaaaa the deposit is never to be seen again. Nor is the house or the scammer.
5. Be leary of ads on Craigslist. I am not saying they all are bad, many are legit, however, please be careful. I recently heard of a lady who advertised her house on Craigslist, took deposits for several tenants and then held off their move in days for various reasons and they never saw their money again.
Please use your heads and if it sounds too good to be true, it probably is. Also, if the prospective land lord does not call you back and only wants to communicate via email...be careful. Don't pay with a money order or CASHIER'S Check. Make sure you walk through the home with the property manager or owner as well. Verify that they really do own the property...you can check with the County Recorder or local realtor.
Please spend your money wisely and if you have doubts or something makes you feel that uneasy feeling-you should walk away.
If I can help you find a home in the Inland Empire, please let me know. Buying and selling homes is my speciality!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
http://inlandempirerealestate.kwrealty.com
951-204-1864
Here are some scenarios I have seen and I am sure there are more, but please beware of the wolf in sheep's clothing. Just keep some of these in mind when you are out there looking for a rental.
1-If the rental seems TOO GOOD to be TRUE...it probably is. This means if the rental rate is below normal for the neighborhood...BEWARE! You may see a 3 bedroom home in Rancho Cucamonga renting for $1000 and if you go some of the rental sites, you may see it should really be renting for $2,500 a month...be careful! You can go to rentbits.com to check out what the average rental prices are for homes in your area.
2. You may get an email if you applied for a Craigslist rental. Be careful if it has misspellings, too many words capitalized, does it start out with Dear Madam or Sir? Is there anything in the email that references the UK, cashier's check, Nigeria, God, Reverend, Pastor, etc? Is the email from an email provider that is FREE such as yahoo, AOL, hotmail, gmail etc? If the email you received has many of these items, it could be a scam.
3. Another scam is on a free classifieds site and the rental price is LOW again. Scammer tells renter that he is out of the country on business and asks the prospective renter to wire him money to HOLD the house for them. And bingo...the money is gone, and no house is really available to rent.
4. One more scam I have heard of is the scammer will say they own a house and they don't. They tell the prospective renter they will take a deposit to hold it for them until they can get a key to get inside as they lost their only key. And, wooolaaaaa the deposit is never to be seen again. Nor is the house or the scammer.
5. Be leary of ads on Craigslist. I am not saying they all are bad, many are legit, however, please be careful. I recently heard of a lady who advertised her house on Craigslist, took deposits for several tenants and then held off their move in days for various reasons and they never saw their money again.
Please use your heads and if it sounds too good to be true, it probably is. Also, if the prospective land lord does not call you back and only wants to communicate via email...be careful. Don't pay with a money order or CASHIER'S Check. Make sure you walk through the home with the property manager or owner as well. Verify that they really do own the property...you can check with the County Recorder or local realtor.
Please spend your money wisely and if you have doubts or something makes you feel that uneasy feeling-you should walk away.
If I can help you find a home in the Inland Empire, please let me know. Buying and selling homes is my speciality!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
http://inlandempirerealestate.kwrealty.com
951-204-1864
Friday, March 1, 2013
Inventory of Homes LOW-Sellers Now is The Time to SELL!!!!
Wow, this market is frustrating for realtors who are working with buyers. I have several buyers that I receive on a daily basis, however, if there are not homes available, how do we find buyers a home?
Well, I have resorted to door knocking to see if sellers would like to sell in the neighborhoods that my buyers are looking at. The days are gone where there is too much inventory on the market. We have a SHORTAGE of homes for sale right now.
Sellers are getting a lot more for their homes than they thought they would. Many buyers are coming in with all CASH making it a quick move for most sellers if they so desire. Of course, every market and City are different. But, many times a home is sold even before it hits the market due to the listing agent having their own buyers, or another realtor they know that has a buyer. It is just crazy!
Pending home sales ere up 4.5% from December to January and 9.5% from a year ago. The Pending Home Sales Index from NAP is at the highest since 4/2010. And, remember, the buyer tax credit was happening during that time which made demand for homes crazy back then.
It seems we are having the strongest price growth in more than 7 years which is crazy. Interest rates are still low, and many buyers are trying to swoop in before the interest rates go up along with home prices. It is frustrating for buyers due to the investors who are coming in and paying all cash. Many FHA buyers don't seem to stand a chance with this happening. Even Conventional buyers are having a hard time up against the all cash offers.
So, in essence what I am trying to convey is, if you would like to sell, now would be a great time. If I can be your agent, feel free to contact me. I have more buyers than I can find homes for right now and my team is very frustrated that we cannot help them find homes.
Give me a call at 951-204-1864 or send me an email at calljoan4ahome@gmail.com if I can be of any help.
Sincerely,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
Well, I have resorted to door knocking to see if sellers would like to sell in the neighborhoods that my buyers are looking at. The days are gone where there is too much inventory on the market. We have a SHORTAGE of homes for sale right now.
Sellers are getting a lot more for their homes than they thought they would. Many buyers are coming in with all CASH making it a quick move for most sellers if they so desire. Of course, every market and City are different. But, many times a home is sold even before it hits the market due to the listing agent having their own buyers, or another realtor they know that has a buyer. It is just crazy!
Pending home sales ere up 4.5% from December to January and 9.5% from a year ago. The Pending Home Sales Index from NAP is at the highest since 4/2010. And, remember, the buyer tax credit was happening during that time which made demand for homes crazy back then.
It seems we are having the strongest price growth in more than 7 years which is crazy. Interest rates are still low, and many buyers are trying to swoop in before the interest rates go up along with home prices. It is frustrating for buyers due to the investors who are coming in and paying all cash. Many FHA buyers don't seem to stand a chance with this happening. Even Conventional buyers are having a hard time up against the all cash offers.
So, in essence what I am trying to convey is, if you would like to sell, now would be a great time. If I can be your agent, feel free to contact me. I have more buyers than I can find homes for right now and my team is very frustrated that we cannot help them find homes.
Give me a call at 951-204-1864 or send me an email at calljoan4ahome@gmail.com if I can be of any help.
Sincerely,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
Tuesday, February 26, 2013
Does Your Neighbor's House Affect YOUR Appraisal?
I get asked this question all the time, "Will my neighbor's house affect my appraisal?" And the answer, is an emphatic YES. If your neighbors take excellent care of their home, it will help keep your value up. If their grass is like a park, their house does not have flaking paint, their house just simply has great curb appeal-kuddos to them!
However, on the ugly side...if your neighbor's grass is two feet tall, they have Christmas lights still hanging in July, oil all over their driveway, dead trees etc-well you get the picture, this can lead to your home being devalued by 5 to 10%. The appraisal industry calls this neighbor "external obsolescence" which means this is a factor that is beyond your control...but it still affects your property.
If your neighbor has a lot of cars all over the place, it may prevent your home from selling. If someone comes by to look at your home when it's on the market and there are barking dogs, that could deter someone from wanting to live there as well. The best approach is to try to talk with your neighbor first, however, this does not always work. And, when it does not, the City typically has code enforcement that can help you. It is USUALLY better to go to the neighbor first to try to resolve it. Sometimes that does not work as it is a case by case situation as we are dealing with all sorts of personalities as we know.
The biggest form of external obsolescence has been with homes that have been foreclosed on. Many of these homes have gotten so run down and the weeds are so high. Many Cities are enforcing the real estate agents that take these listings from the banks to take care of the grass (or lack thereof) and make the curb appeal much better or there will be fines.
So, yes, your neighbor's house and neighboring homes do affect the value of your home. Try to get things cleared up before putting your home on the market if you can. Many times, these things are beyond our control and unfortunately, it is what it is and we can only do what we can do. We cannot control everything.
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
However, on the ugly side...if your neighbor's grass is two feet tall, they have Christmas lights still hanging in July, oil all over their driveway, dead trees etc-well you get the picture, this can lead to your home being devalued by 5 to 10%. The appraisal industry calls this neighbor "external obsolescence" which means this is a factor that is beyond your control...but it still affects your property.
If your neighbor has a lot of cars all over the place, it may prevent your home from selling. If someone comes by to look at your home when it's on the market and there are barking dogs, that could deter someone from wanting to live there as well. The best approach is to try to talk with your neighbor first, however, this does not always work. And, when it does not, the City typically has code enforcement that can help you. It is USUALLY better to go to the neighbor first to try to resolve it. Sometimes that does not work as it is a case by case situation as we are dealing with all sorts of personalities as we know.
The biggest form of external obsolescence has been with homes that have been foreclosed on. Many of these homes have gotten so run down and the weeds are so high. Many Cities are enforcing the real estate agents that take these listings from the banks to take care of the grass (or lack thereof) and make the curb appeal much better or there will be fines.
So, yes, your neighbor's house and neighboring homes do affect the value of your home. Try to get things cleared up before putting your home on the market if you can. Many times, these things are beyond our control and unfortunately, it is what it is and we can only do what we can do. We cannot control everything.
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
Wednesday, February 20, 2013
Do You Really Want To Be A Landlord?
I had a client ask me yesterday if it were a good idea to rent their existing home and purchase another home because the rental market was so hot right now.
I told them that there are pros and cons to renting out your home. The cons are that you don't really know how the renters will take care of your home and if you have put in a lot of upgrades, when they move out, you may be very disappointed at the damage that was done to your home. Renters are not always bad, but I have had 2 homes that I have rented out and I have had 50/50 chances as to what I would find.
Take for example a nice 3 bedroom home that I had in Moreno Valley. I had spent thousands of dollars making it into a home that I lived in for 4 years. It was an average home when I moved into it, but I put in new cabinets, new bathrooms etc. I had one tenant that treated it great, another that ruined the kitchen cabinets by hanging wet towels on the nice cabinets. I had the cabinets fixed and rented to another couple that then proceeded to not pay the rent on time. They thought since I was renting this to them that I must be rich and could carry the extra mortgage-NOT!!!! The last time I saw this couple the husband came to the door with his shirt off and had a gun in his hand. I backed up and ended up calling an eviction service. I hated having to do that, but I am not the bank and needed to pay the mortgage on this rental.
When they left, I was so sad to see the damage they had done to the house. They spilled top ramen all over the floors, put gum on the carpet along with dye and oil. Kicked holes in the walls and kitchen cabinets. Broke the glass door on the master shower. I basically had to come in and redo everything again. And, the real estate market had not come up in price still from the time that I had purchased the house, so if I sold it, I would still be at a loss.
We had another home that we rented out and those people took care of it like it was their own home. When they moved out, we sold both homes, but took a loss on my house in Moreno Valley.
Being a land lord is not fun, it can be quite challenging getting phone calls that the toilet won't flush at 10:00 p.m. and you drive out to see the problem and all it was wrong was the chain had come loose in the tank. I would get a property management company to manage any rentals to avoid this and they will also check their credit and basically do everything for you.
If I had to do it over again, I would hire a property management company. They save you a lot of time, stress and worry!
After I went over both scenarios with my client, I am not sure if they want to be land lords or not. Only time will tell if they have the desire!
If I can be of any help, give me a call at 951-204-1864 or visit my website at http://inlandempirerealestate.kwrealty.com
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
I told them that there are pros and cons to renting out your home. The cons are that you don't really know how the renters will take care of your home and if you have put in a lot of upgrades, when they move out, you may be very disappointed at the damage that was done to your home. Renters are not always bad, but I have had 2 homes that I have rented out and I have had 50/50 chances as to what I would find.
Take for example a nice 3 bedroom home that I had in Moreno Valley. I had spent thousands of dollars making it into a home that I lived in for 4 years. It was an average home when I moved into it, but I put in new cabinets, new bathrooms etc. I had one tenant that treated it great, another that ruined the kitchen cabinets by hanging wet towels on the nice cabinets. I had the cabinets fixed and rented to another couple that then proceeded to not pay the rent on time. They thought since I was renting this to them that I must be rich and could carry the extra mortgage-NOT!!!! The last time I saw this couple the husband came to the door with his shirt off and had a gun in his hand. I backed up and ended up calling an eviction service. I hated having to do that, but I am not the bank and needed to pay the mortgage on this rental.
When they left, I was so sad to see the damage they had done to the house. They spilled top ramen all over the floors, put gum on the carpet along with dye and oil. Kicked holes in the walls and kitchen cabinets. Broke the glass door on the master shower. I basically had to come in and redo everything again. And, the real estate market had not come up in price still from the time that I had purchased the house, so if I sold it, I would still be at a loss.
We had another home that we rented out and those people took care of it like it was their own home. When they moved out, we sold both homes, but took a loss on my house in Moreno Valley.
Being a land lord is not fun, it can be quite challenging getting phone calls that the toilet won't flush at 10:00 p.m. and you drive out to see the problem and all it was wrong was the chain had come loose in the tank. I would get a property management company to manage any rentals to avoid this and they will also check their credit and basically do everything for you.
If I had to do it over again, I would hire a property management company. They save you a lot of time, stress and worry!
After I went over both scenarios with my client, I am not sure if they want to be land lords or not. Only time will tell if they have the desire!
If I can be of any help, give me a call at 951-204-1864 or visit my website at http://inlandempirerealestate.kwrealty.com
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
Tuesday, February 19, 2013
Do The Lenders Always Consider Credit Scores?
I get asked a lot of questions being in the real estate field. The latest one was, "Do lenders always consider credit scores?" I asked why because of the simple fact, there had to be more to the story like there always is...well, I was right, I could have guessed it, they had bad credit.
The answer is YES, they always consider credit scores. Your credit score is very important in so many different areas of your life. Even getting a job sometimes your credit score can come into play. That is why it is so important to keep your scores high if at all possible.
If your credit needs repairing, I have a few lenders that actually help you resolve these issues so that you can purchase a home in the future. So, if you have bad credit, what are you waiting for? Give me a call today and I will put you in touch with some one that will help you for free. And, everything is confidential.
Give me a call today 951-204-1864 or shoot me an email at calljoan4ahome@gmail.com. You may visit my website so you can search the MLS for free as well.
Http://inlandempirerealestate.kwrealty.com
Thanks!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
The answer is YES, they always consider credit scores. Your credit score is very important in so many different areas of your life. Even getting a job sometimes your credit score can come into play. That is why it is so important to keep your scores high if at all possible.
If your credit needs repairing, I have a few lenders that actually help you resolve these issues so that you can purchase a home in the future. So, if you have bad credit, what are you waiting for? Give me a call today and I will put you in touch with some one that will help you for free. And, everything is confidential.
Give me a call today 951-204-1864 or shoot me an email at calljoan4ahome@gmail.com. You may visit my website so you can search the MLS for free as well.
Http://inlandempirerealestate.kwrealty.com
Thanks!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
When Does a Seller Move Out After Escrow Closes?
It all depends on what was agreed upon with the initial offer. Typically, I will give my sellers 3 days to move out of their home as there usually are a lot of things that need to be done.
Your agent needs to really watch when an offer is submitted and make sure they fill out the PAA form specifying the number of days that a seller can stay. This is very important as if it is not discussed, it can be a disaster for everyone!
Call me at 951-204-1864 if I can be of any help or visit my website at http://inlandempirerealestate.kwrealty.com
Thanks,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
Your agent needs to really watch when an offer is submitted and make sure they fill out the PAA form specifying the number of days that a seller can stay. This is very important as if it is not discussed, it can be a disaster for everyone!
Call me at 951-204-1864 if I can be of any help or visit my website at http://inlandempirerealestate.kwrealty.com
Thanks,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
Now Is Not The Time To Work With Part Time Agents
Http://inlandempirerealestate.kwrealty.com
Now is certainly not the time to work with someone who is just part time or new to the business. The reason why is we are in tough times when it comes to getting offers accepted. There are not enough homes on the market and with that in mind, there are multiple offers on homes if they are priced right etc.
You need an agent that knows what they are doing. Someone that really knows their stuff-a seasoned realtor that has been out there seeing different scenarios. You don't need a person that does not understand the different things that go on in each real estate transaction. Every deal is different, so it is better to work with a seasoned professional such as myself.
I know many people want to work with a relative that just got their license etc, but how much is this really going to cost you in the long run?
You need an agent who has been through different cycles over the years with the highs and lows in real estate, not someone who does not understand the different dynamics. If I can be of any help buying or selling, feel free to visit my website above, or call me.
If you are needing to short sale your home, or list your home, all consultations are private. Call me now at 951-204-1864 or send me an email at calljoan4ahome@gmail.com.
Thank you so much and I look forward to helping you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
Now is certainly not the time to work with someone who is just part time or new to the business. The reason why is we are in tough times when it comes to getting offers accepted. There are not enough homes on the market and with that in mind, there are multiple offers on homes if they are priced right etc.
You need an agent that knows what they are doing. Someone that really knows their stuff-a seasoned realtor that has been out there seeing different scenarios. You don't need a person that does not understand the different things that go on in each real estate transaction. Every deal is different, so it is better to work with a seasoned professional such as myself.
I know many people want to work with a relative that just got their license etc, but how much is this really going to cost you in the long run?
You need an agent who has been through different cycles over the years with the highs and lows in real estate, not someone who does not understand the different dynamics. If I can be of any help buying or selling, feel free to visit my website above, or call me.
If you are needing to short sale your home, or list your home, all consultations are private. Call me now at 951-204-1864 or send me an email at calljoan4ahome@gmail.com.
Thank you so much and I look forward to helping you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
Friday, February 8, 2013
Buying a Home at an Auction Can Be a Problem
Many folks think that buying a house at an auction or a foreclosure sale (Trustee Sale) will be a great deal. Sometimes it is, sometimes it's not. On the plus side, if you happen to get super lucky, you could happen to pick up a great deal if there are no problems. You see, you cannot go into the house to inspect if there is anything wrong. Typically, there is always something wrong with the house. When I go on an inspection with my clients on a normal resale home, we find things 99% of the time as there is no such thing as a perfect house.
You may find that the roof is bad and could cost a lot of money to fix or replace. You may find out that someone had passed away in the house which can totally freak out people if it was not natural causes. Some people do not even like it if the death was by natural causes. You could find that the plumbing is all messed up, or that there are no toilets, no appliances, etc. You just never know what you will find.
And, when buying at an auction or trustee sale you need CASH. That's right, CASH. So, if you don't have the cash don't even bother. People that buy homes at these trustee sales or auctions get stuck many times with unseen problems and they plan on flipping the houses after they have renovated them. Then, they end up not getting as much out of the house that they thought they would which is frustrating for them. Many times, they have to hold on to these homes and rent them out until the market comes back a bit.
One thing I would suggest is to talk with the neighbors of any home you are interested in. This also includes normal resale homes. Visit the neighborhood during all different times of day and night to see if you like that is going on.
Good luck!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
You may find that the roof is bad and could cost a lot of money to fix or replace. You may find out that someone had passed away in the house which can totally freak out people if it was not natural causes. Some people do not even like it if the death was by natural causes. You could find that the plumbing is all messed up, or that there are no toilets, no appliances, etc. You just never know what you will find.
And, when buying at an auction or trustee sale you need CASH. That's right, CASH. So, if you don't have the cash don't even bother. People that buy homes at these trustee sales or auctions get stuck many times with unseen problems and they plan on flipping the houses after they have renovated them. Then, they end up not getting as much out of the house that they thought they would which is frustrating for them. Many times, they have to hold on to these homes and rent them out until the market comes back a bit.
One thing I would suggest is to talk with the neighbors of any home you are interested in. This also includes normal resale homes. Visit the neighborhood during all different times of day and night to see if you like that is going on.
Good luck!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
Thursday, January 24, 2013
Buyers Need To Be Patient When Trying To Purchase a Home
Buyers, have you found that when trying to purchase a home here in the Inland Empire that you are running up against multiple offers? Are you frustrated because you cannot seem to get an offer accepted? Well, join the crowd. It seems this is the norm right now. Do you have any idea why this may be? Well, there are several reasons. The first one is that you have a lot of competition due to the interest rates being so low. The second reason is that there are not enough homes on the market right now. We need the sellers to list, but they are not listing for many reasons. They are not listing because they may still be under water, but they don't want to do a short sale. They are waiting for the values to come up even more. So, they are holding out. Even the new home builders are not releasing homes like they were. They are only releasing a few homes in a phase. Lennar for example is only releasing 4 homes in a phase. That is kind of unheard of...phase releases before were much higher depending on the developer of course.
I have gone out with buyers and we have the same situation happening. All agents have it happening. It is just as frustrating for us because we really really REALLY would like to find you a home. Many times homes are sold even before they hit the MLS due to networking done by agents. However, finding a home can still be done of course, but you really need to be patient and also persistent. You need to be ready, willing, and available to look at homes as soon as a home comes on the MLS. And, you really need to listen to your real estate agent as far as what they tell you they need when it comes to an offer. I make sure we have all our "ducks in a row" before we even go out looking at homes so we are one step ahead of other buyers.
I can help you find a home if you are looking in the Inland Empire. Just give me a call 951-204-1864.
Looking forward to helping you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
I have gone out with buyers and we have the same situation happening. All agents have it happening. It is just as frustrating for us because we really really REALLY would like to find you a home. Many times homes are sold even before they hit the MLS due to networking done by agents. However, finding a home can still be done of course, but you really need to be patient and also persistent. You need to be ready, willing, and available to look at homes as soon as a home comes on the MLS. And, you really need to listen to your real estate agent as far as what they tell you they need when it comes to an offer. I make sure we have all our "ducks in a row" before we even go out looking at homes so we are one step ahead of other buyers.
I can help you find a home if you are looking in the Inland Empire. Just give me a call 951-204-1864.
Looking forward to helping you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
Wednesday, January 23, 2013
Sellers-Inventory is Low-We Need More Listings!
Sellers, if you have any desire to sell your home, now is the best time to do so because there is such a lack of inventory out there and a HIGH demand by buyers. Right now, if your home is priced right, it should get multiple offers quickly. If you are even thinking of selling, you should sell if you are serious.
With more buyers able to purchase now because of interest rates making buying a home so much more affordable, we have too many buyers and not enough homes! It used to be that there were investors purchasing homes and rehabbing them to make some money and flip these homes quickly. However, even the investors are holding on to homes. I am guessing it's because of the rental industry now. There are more people who lost their homes that have had to rent due to their credit etc which in turn has driven up the need for rentals. So, the investors that used to turn and flip homes are holding on to them now.
There are still many sellers that are upside down and would not make anything if they sold their homes (or they may still lose money which they don't need to do nor do they want to do a short sale) so they are not selling their homes either.
Home building is at an all time low also. I just went to Lennar up by Glen Helen and they are only releasing 4 homes in each phase...wow...only 4 homes. It used to be they would release a lot more homes. So, there is also a demand for new homes with waiting lists for most of these to be built.
Sellers, it is a seller's market right now, so if you are thinking of selling, give me a call and I will help you get your home sold for top dollar and quickly. I will give you a FREE market analysis so you can decide if you want to sell. Give me a call today 951-204-1864.
Looking forward to helping you sell your home!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
calljoan4ahome@gmail.com
With more buyers able to purchase now because of interest rates making buying a home so much more affordable, we have too many buyers and not enough homes! It used to be that there were investors purchasing homes and rehabbing them to make some money and flip these homes quickly. However, even the investors are holding on to homes. I am guessing it's because of the rental industry now. There are more people who lost their homes that have had to rent due to their credit etc which in turn has driven up the need for rentals. So, the investors that used to turn and flip homes are holding on to them now.
There are still many sellers that are upside down and would not make anything if they sold their homes (or they may still lose money which they don't need to do nor do they want to do a short sale) so they are not selling their homes either.
Home building is at an all time low also. I just went to Lennar up by Glen Helen and they are only releasing 4 homes in each phase...wow...only 4 homes. It used to be they would release a lot more homes. So, there is also a demand for new homes with waiting lists for most of these to be built.
Sellers, it is a seller's market right now, so if you are thinking of selling, give me a call and I will help you get your home sold for top dollar and quickly. I will give you a FREE market analysis so you can decide if you want to sell. Give me a call today 951-204-1864.
Looking forward to helping you sell your home!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
calljoan4ahome@gmail.com
How Many Homes Are Available in LaCresta (Murrieta, California) NOW?
I have always loved LaCresta which is a very beautiful area in the hills in Murrieta, California. I have loved it so much that I purchased my retirement home there. I love the area so much because of so many reasons. The first reason is that it really makes you feel that you are living somewhere else and not in the hustle and bustle of Southern California. You feel as if you are in the Country, and yet still so close to stores and the 15 freeway. You can enjoy both worlds while having some room between you and your neighbors.
If you love horses, this is surely the place to be. You can have many horses on these lots. Nothing is zoned less than 5 acres in LaCresta. There are miles and miles of riding trails as well. The Santa Rosa Ecological Preserve is another awesome spot to ride your horses, or just to take a hike. This area is a hidden gem!
Right now in the Murrieta hills area West (LaCresta) there are 56 homes for sale with 51 being STANDARD SALES!!!! Right now there is a home that is 3935 square feet on 5.04 acres which is a 4 bedroom 3 bath home for sale for $575,000...can you believe it? I cannot!!! The highest priced home in $4,500,000.00 which is 9389 square feet 6 bedrooms, 4 full baths, 3 - 3/4 baths and 3 - 1/2 baths on 21.01 acres. WOW...and this home is a beauty---you should see the barn. It is so beautiful as well.
If I can help you find a home in Murrieta, California, anywhere in LaCresta, Tenaja, DeLuz, Temecula or anywhere in Southern California, let me know. It would be my pleasure to help you!
Looking forward to meeting you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
calljoan4ahome@gmail.com
If you love horses, this is surely the place to be. You can have many horses on these lots. Nothing is zoned less than 5 acres in LaCresta. There are miles and miles of riding trails as well. The Santa Rosa Ecological Preserve is another awesome spot to ride your horses, or just to take a hike. This area is a hidden gem!
Right now in the Murrieta hills area West (LaCresta) there are 56 homes for sale with 51 being STANDARD SALES!!!! Right now there is a home that is 3935 square feet on 5.04 acres which is a 4 bedroom 3 bath home for sale for $575,000...can you believe it? I cannot!!! The highest priced home in $4,500,000.00 which is 9389 square feet 6 bedrooms, 4 full baths, 3 - 3/4 baths and 3 - 1/2 baths on 21.01 acres. WOW...and this home is a beauty---you should see the barn. It is so beautiful as well.
If I can help you find a home in Murrieta, California, anywhere in LaCresta, Tenaja, DeLuz, Temecula or anywhere in Southern California, let me know. It would be my pleasure to help you!
Looking forward to meeting you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
calljoan4ahome@gmail.com
How Many Homes Are Available In Claremont, California NOW?
Right now in Claremont, California there are a total of ONLY 47 homes on the market with 38 of these being STANDARD sale single family homes. The prices run from $325,000 for a home with 1502 square feet with a 7817 square foot lot, 3 bedrooms, 1 full bath and 1- 3/4 bath.
The highest priced home in Claremont, California is a 4 bedroom 5 bath home that is 6000 square feet with a lot that is 1.5 acres. This home is priced at $3,700,000.00. Absolutely stunning....
If you would like to look at homes in Claremont, California, you can give me a call at 951-204-1864 and I will be happy to help you find your dream home.
Looking forward to hearing from you,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
calljoan4ahome@gmail.com
The highest priced home in Claremont, California is a 4 bedroom 5 bath home that is 6000 square feet with a lot that is 1.5 acres. This home is priced at $3,700,000.00. Absolutely stunning....
If you would like to look at homes in Claremont, California, you can give me a call at 951-204-1864 and I will be happy to help you find your dream home.
Looking forward to hearing from you,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrealty.com
calljoan4ahome@gmail.com
How Many Homes Are Available In Upland, California NOW?
I am so glad you asked! Right now there are a total of 74 homes-ONLY 74 homes-wow...where has all the inventory gone? Of the only 74 homes in Upland, California there are 58 STANDARD sales...wow...STANDARD SALES!!!!! Homes are ranging from 1022 square feet with a 6773 square foot lot, 3 bedroom, 1 bath for $220,500 all the way to a home that has to die for views and 8500 square feet of living space on 2.71 acres with 5 bedrooms, 5 full baths and 2 half baths for only $4,900,000.
There are many prices in between those of course! Give me a call today at 951-204-1864 so I can help you find your dream home in Upland, California!
Kind regards,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
951-204-1864
There are many prices in between those of course! Give me a call today at 951-204-1864 so I can help you find your dream home in Upland, California!
Kind regards,
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
951-204-1864
How Many Homes Are Available in Fontana, California Now?
Right now in Fontana, California there are 141 homes available. Most of these homes are standard sales...STANDARD sales...sorry, I get a bit excited when we are really dealing with the sellers and not the banks! It makes things (typically) a lot easier to deal with! There are 86 STANDARD sales, 10 NOD's (Notice of Defaults), 19 REO's (Real Estate Owned- which means these homes were foreclosed on and now being sold by the Banks) and only 34 short sales.
Homes are ranging in price for a 2 bedroom, 1 bath home, which is 836 square feet $113,400 to a home which is 1528 square feet on a 19,500 lot, 2 bedroom, 1 bath with another 2.14 acres of vacant land that can be developed into an industrial park (per the MLS listing). They are asking $939,900 for this one. There are larger homes available with less land, this was the highest priced listing as of today.
If I can help you find a home in Fontana, California, please let me know as I specialize in Fontana, California as well!
Looking forward to helping you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
Homes are ranging in price for a 2 bedroom, 1 bath home, which is 836 square feet $113,400 to a home which is 1528 square feet on a 19,500 lot, 2 bedroom, 1 bath with another 2.14 acres of vacant land that can be developed into an industrial park (per the MLS listing). They are asking $939,900 for this one. There are larger homes available with less land, this was the highest priced listing as of today.
If I can help you find a home in Fontana, California, please let me know as I specialize in Fontana, California as well!
Looking forward to helping you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
calljoan4ahome@gmail.com
http://inlandempirerealestate.kwrealty.com
How Many Homes Are Available in Rancho Cucamonga, California?
What a great question! Right now as of this date, there are a total of 116 homes for sale in Rancho Cucamonga, California. And, can you believe it...89 of them are STANDARD SALES...yes you heard it correctly. Times are a changin'!!! Used to be we only had a majority of homes that were short sales, but we are finally getting back to standard sales which is great!
Right now there are homes in Rancho Cucamonga, California ranging from $190,000 for an 1152 square foot home, 4 bedrooms, 2 bath on a 7344 square foot lot. And, we have the highest home on the market as of today being $1,430,000 which is a beautiful 5 bedroom, 4 full baths and 2 half baths home which is 6421 square feet on a 23,568 square foot lot. There are many price ranges in between of course!
Call me today if you would like to take a look at some of these beautiful homes here in Rancho Cucamonga. After all, I am your Rancho Cucamonga, California specialist!
Looking forward to hearing from you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrancho.com
Right now there are homes in Rancho Cucamonga, California ranging from $190,000 for an 1152 square foot home, 4 bedrooms, 2 bath on a 7344 square foot lot. And, we have the highest home on the market as of today being $1,430,000 which is a beautiful 5 bedroom, 4 full baths and 2 half baths home which is 6421 square feet on a 23,568 square foot lot. There are many price ranges in between of course!
Call me today if you would like to take a look at some of these beautiful homes here in Rancho Cucamonga. After all, I am your Rancho Cucamonga, California specialist!
Looking forward to hearing from you!
Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
http://inlandempirerealestate.kwrancho.com
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