How Can a Short Sale Benefit You?

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A short sale is what happens when the mortgage on your home exceeds its value. When you owe more than your home is worth, the only way to make money on the sale is through a short sale. This must be approved by your lender first.

I thought short sales were over with, but in the last month I have been hearing about them more frequently. People who didn't opt for a short sale in 2010 had their home loans modified so that they could stay in their homes for greatly reduced prices.

However, those home loans are now resetting, and the new payments are quite a bit higher. When these homes become un-affordable, people start to call me and ask about the short sale process. 

I'm an expert in the process of short sales. I have more than eighteen years of experience with them. There are no out-of-pocket expenses in a short sale, and the banks in California cannot come after you for any deficiencies after you've sold. 

Please don't hesitate to contact me for any reason. I would be more than happy to help you with any and all of your real estate needs.

How Can a Reverse Offer Help Get Your Home Sold?

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Lately, many people have asked us what a reverse offer is. Today, we'll explain what that is and how it's used!

A reverse offer is a strategy we use to get your home sold faster. It's one of the ways we make a transaction happen in a situation where there doesn't seem to be an audience for your home. Typically, an agent will market your home and get people to take a look at it, but sometimes the selling process turns into a waiting game, where the agent and seller are simply waiting to see if anyone will make an offer.

To avoid sitting around waiting for a buyer to make a move, we use a reverse offer, where we reach out to a buyer and make them an offer. We acknowledge that they took a look at the house and make them an offer. We've found that being proactive like this often helps get a home sold! 

The key is to avoid sitting around waiting on buyers to make a move - the power is in your hands! If you have questions about this process, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!

How to Sell Your Home Using an Open House

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Realtors have been using open houses to sell homes for a long time. It's an old-fashioned way to sell a home, and sometimes it can be rather ineffective. 

We have integrated technology with old school methods to improve the process of an open house. We put out around 15-20 signs for an open house, and we also mail postcards to the entire neighborhood for an exclusive viewing that begins before the public showing. 

On top of this, we have a system where our ISA's call everyone in the neighborhood to ensure that people know about it and show up. We like to create a buzz around the property, and we also use social media to do this by running ads on multiple platforms.

We really pride ourselves on the fact that we market our open houses aggressively. We employ a lot of agents at our open houses in order to trap as many leads as possible, because a lot of leads come in and out of the door, never to be seen again.

As always, please contact us if you're looking to buy or sell in the Temecula area!

What Unexpected Costs Should You Prepare for When Buying or Selling in Temecula?

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Today, we want to share some information you'll surely find helpful. There are some costs associated with buying or selling real estate in the Temecula/Murrieta area that we want to clue you in on.

If you haven't sold a house in the last couple of years, one unexpected cost that might pop up is an up-front payment for your Homeowners Association documents. In the past, that was paid during escrow or at the end of escrow, but now the HOA companies are having you prepay that up-front to generate those documents. Typically, the price is around $300-$400, but we've seen some reach as high as $900, so be aware of this fee! 

You might also have to pay private transfer taxes that trigger up the sale of a property. We live in the Harveston area, which has a Community Enhancement Fee that calls for a transfer tax each time a home is bought or sold that goes to a charitable organization in the area. The transfer tax is one quarter of 1%, so out here it could be anywhere from $700 to a little over $1,000. 

If you're a buyer who is getting a loan to purchase your next house, your lender will probably ask you to have an impound account. The impound account consists of money you have to pay up-front for your taxes and insurance. It's typically six months of taxes and a whole year's premium on your homeowners insurance. Have that money ready! If you're running low on funds or can't afford to have all that an impound account calls for, reach out to us and we'll help you with that. 

If you have any questions about real estate, or if you need real estate assistance of any kind, we're your team! We would love to help you in any way possible!

Temecula Real Estate Market Update

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Today I'm going to give you a brief overview of the real estate market here in Temecula and Murrieta. 

Overall, we're seeing a neutral market with good inventory levels and steady prices. This means that if you're looking to buy or sell, now is a good time to do so. 

I want to urge buyers to enter the market even more so than sellers because interest rates are currently below 4%, and they may not remain this low for much longer. If you buy a home with these low rates, it could save you thousands and thousands of dollars on your home loan. 

Another important thing to consider is that you'll need a good team of real estate professionals to get the best possible deal. Please don't hesitate to contact me if you need assistance buying or selling in the Inland Empire this summer!