Your Agent's Market Knowledge

Choosing the RIGHT Agent

This pretty much says it all! When you choose a Realtor to work with when buying a home, (or listing a home) you not only want to make sure it's somebody you trust and want to work with, but somebody who has the market knowledge to help you negotiate in YOUR best interest.  We all would like a bargain, or to make a large profit on the sale of our homes, but the amount you pay for your home, or eventually sell your home for is dictated by the market conditions.  It is very important to choose an agent that has done their market research and can help guide you on list price or the price to make an offer at.  Ultimately these decisions are yours to make, but an agent with good market knowledge and good intentions will help you set realistic expectations.  

Redlands Real Estate Update Week of December 1st

Market History......

Redlands Historic Sales and Listings for the past 13 months

What this means to you......

List, list, list!!!!  Now is the time to list your home if you are looking to get an edge up on the market.  Historically December has a large number of sales and not many new listings. This works in favor of the seller who actually wants to list during the holidays.  Buyers are anxious to move into their new homes before or right after the new year but many sellers are waiting because they don't want the hassle during the holidays.  So if you are one of those brave souls that is willing to list your home before the holidays, you could benefit greatly from this bravery and get a head start over those waiting to list.  

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Home Maintenence for December

December Home Maintenance Checklist

Home maintenance can seem to be a never-ending project, but if you take the time and do just two of these activities each weekend in the month of December you are on your way to preventing those LARGE and EXPENSIVE repairs! 

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First Time Home Buyers Guide on Century 21

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First Time Home Buyers

Stop Renting! Start making your money work for YOU!

I'm sure I'm not the first person you've heard it from, and I most likely won't be the last either.  If you are renting, you are most likely paying about the same as you would paying a mortgage, so what's stopping you from buying a home?  You could be earning equity in a home right now!  Even if you have credit that needs to be repaired, you could be ready to buy in 3-6 months!

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Redlands Real Estate Update

 Six month history of Average Sale Price and Expired Listings

Redlands Average Sale Price and Expired Listings for June through November

What this information means to you.......

These stats show the Redlands Market is overall currently a very strong Real Estate Market. The average sale price remains fairly steady between $350,000-$400,000.  Out of approximately 420 listings only 50 total have expired without a sale.  That means approximately only 11% of homes listed in Redlands contracts are expiring without a sale.  This is well below the average for San Bernardino County which is currently 20%.  Overall the Redlands Real Estate Market is currently very strong and stable.  

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The Importance of Getting Pre-Appoved

WE ALL WANT TO START LOOKING AT HOMES BEFORE COMMITTING TO BEING IN THE MARKET.......

So why is it so important to get Pre-Approved by a lender before you start your search? 

Ok, we all do it right?  You just want to see what's out there, you're not serious right now just testing the waters to see if you might be interested in buying a home, so what's the harm? I know the harm and I STILL do it!  I just get the satisfaction of telling myself I have to do it to keep up with the market (which I do), but I've still fallen ill to it's evils.  

The harm is that while you are "testing the waters" or "casually looking" you come across your DREAM HOME! The one you can't live without, the one that's just waiting for YOU to buy it.  Now you are under the gun.......you have to get pre-approved and quick! And you have to get pre-approved for an amount that allows you to write an attractive offer on that home.  

Now I'm not saying this will always happen, and for some lucky people it works out fine, but here's the scenario most buyers will run into.  You've done your research and you know what percentage of your income lenders look for you to spend on your mortgage every month, so you weren't looking outside of your "price range".  So no biggie, you are now at a very reputable and by the book lender and, oh no! You forgot about taxes and insurance so now that home you looked at and loved that you can't live without is out of your price range. 

OR

You have child support payments that the lender takes into account that you forgot to consider, or the car loan you have out, or the home you currently own that you are upside down on your mortgage in.  There are so many factors that lenders take into account and I won't pretend to be an expert in that. That's why there is a separate license for mortgage lenders! 

But now you have the taste of your DREAM HOME in your mouth and nothing else will do.  So you basically have two options.  Option #1 start looking in what is ACTUALLY your price range, or Option #2 go to a less than reputable lender (because yes there unfortunately are still some lenders out there who will put you in a loan you can't afford).  

Ok, now here's where I'm going to give you a piece of unsolicited advice.  If you did start shopping and find yourself in this situation, ALWAYS ALWAYS ALWAYS go with Option #1!  

Now hopefully it doesn't come to this!  If you talk to a reputable REALTOR when you start your search, they will have a list of lenders they have worked with and this should keep your home-buying experience grounded and fluid.  

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Has the Holiday Season stopped your Home Buying Momentum???? 

Don't miss out on what could be the best time to find your dream home!!

Top 5 reasons for Buying your home right NOW!!

Reason #5 - INVENTORY

There are currently quite a few homes on the market that were listed toward the end of the summer that are set to expire soon.  This gives you some negotiating power when it comes to writing an offer.  Often times these sellers are highly motivated 

(although this is not always the case) and more open to try and work with ALL offers rather than discard the ones that don't reflect asking price.  

Reason #4 -  HOLIDAY HICCUPS

This is the time of year most buyers stop looking to buy, whether it be they are too busy or feel it is an intrusion on sellers during the holidays, I'm not quite sure but again this is an advantage to those buyers who are willing to look during this time of year.   Sellers are starting to see a decline  in showing requests and in the numbers of attendees at open houses.  Again this tips the scale in your favor when it comes to negotiating.

Reason #3 - Finding the Possible Flaws

Although it is not as crucial in California as  it was in my home state of Wisconsin, it is still

important  to view a home during different weather conditions to find possible problems in mechanical components as well as the structure of a property.  Although rain in the Inland Empire (especially in times of a drought) is not that common, it is important when buying a home to view it in as many different weather conditions as possible. Drainage and grading can be big issues when the rain finally does come and although a home inspection should uncover any issues, nothing is better than seeing it first hand.  So although it may be tempting when the rain comes to stay inside and cover up under a blanket......this is the perfect time to get out and view that home you are ready to pull the trigger on. You'll thank me later!                                                                

 

Reason #2 - More Personalized Attention

With the end of the year fast approaching lenders as well as escrow offices are more diligent than ever to meet deadlines and close transactions before the end of the year. There are fewer transactions closing around this time so it also increases your transaction's importance.  Bottom line, with fewer transactions to close there is more attention paid to each and every escrow opened and a greater incentive to get those transactions closed.  

AND NOW THE ONE YOU'VE ALL BEEN WAITING FOR!!!

Reason #1 - Schools

Now I get this doesn't apply to everybody, but for those buyers who have children one of the biggest issues becomes school district lines.  If you are looking to buy a home outside of your child's school district, this is the PERFECT time to start seriously looking. This 

could mean the difference between getting your child in the correct school at the beginning of the semester versus having to change schools mid-stream.  I say this as a parent who has had to go through this.  My daughter's school wouldn't allow me to register her until escrow was CLOSED and required the escrow documents to do so.  So for those of you with children still in school, looking to get settled before the new semester, I say ACT NOW if you can.  

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