Consumer Confidence is high which is great news for Home Sellers!!

Consumer confidence definitely affects the Real Estate Market and currently the Consumer Confidence Index is at 125.9, up from 120.6 in September. Consumer confidence is at its highest level in 17 years which was boosted by the job market. Confidence remains high among consumers and their expectations suggest the economy will continue expanding at a solid pace for the remainder of the year which proves that selling during the holidays can be a great idea because economic conditions are unknown for 2018.

Your home’s value is likely higher than you think, If you are wondering what it’s worth, call me today @ 323-717-2262


Posted on November 6, 2017 at 8:08 pm
Steven Galindo | Posted in Home Seller Advice, Real Estate News |

3 HUGE Benefits To Putting Your House On The Market During The Holidays

(1) Holiday buyers are motivated buyers. Some of the reasons why they need to buy is because they’re relocating, some have received end of year job bonuses that they can apply to a down payment, some need to buy for tax benefits while others want to buy before interest rates go up (and they will go up)

(2) Your home looks great and buyers can be more emotional around this time. From the smell of cookies to a beautifully decorated tree can make a buyer see themselves living in your home. The more emotional a buyer gets about your home, the more they are likely to pay.

(3) During the holidays there will be less homes on the market which means you will have less competition. Its basically the law of supply and demand.  Motivated home buyers outnumber the amount of homes for sale. This could mean MORE money for you!!!


Posted on October 31, 2017 at 10:49 pm
Steven Galindo | Posted in Home Seller Advice, Uncategorized |

Home Seller Advice – Things To Consider If Your Home Gets Appraised

The appraisal

If your buyers are getting a mortgage, they will also have to hire an appraiser. The appraiser will not only size up your home in person but check out the sale prices of comparable houses in your neighborhood (much as a Realtor would do for you). If the appraiser’s price matches the one your buyers are paying (or even if it’s higher), all is good.

But if the appraisal comes back lower than the asking price, it may become a problem. Typically, lenders won’t loan buyers anything above the appraisal amount. The buyers have two choices: Pay cash for the difference, or negotiate a lower sale price with you. If they choose the latter, you’ve got two choices, too: Accept the lower home price, or walk. To decide, ask yourself: How easy would it be to find a new buyer? If you were deluged with offers, it may be in your interests to move on, but keep in mind that you might run into the same problem with subsequent appraisals. So unless you’re confident your home is worth more and you’re willing to head back to square one, you may want to take a hit just to keep moving forward

 


Posted on October 27, 2017 at 4:30 pm
Steven Galindo | Posted in Home Seller Advice |

Home Seller Advice – Brighten Things Up

Take the time to replace broken lights and repair electrical connections. No one wants busted electrical connections, and they’re dangerous too. Get an electrician to check out everything to prevent fire hazards. Replace busted light bulbs and have all others replaced with environment-friendly ones. This will make your unit look spanking new and will assure your buyer that your unit is worth the price you’re asking for.


Posted on October 20, 2017 at 5:21 pm
Steven Galindo | Posted in Uncategorized |

Home Seller Advice: On the fence about selling your home? Read this

All year, the overwhelming sentiment in the housing market has been frustration. Too few homes for sale drove prices sky high and led to fierce competition among buyers, especially at the entry level. So it was a little bit more than surprising to see a sudden burst of optimism among potential homebuyers in a monthly sentiment survey from Fannie Mae. Housing confidence rose in September to match the all-time high set in June. The main driver: a big jump in the share of current renters surveyed saying now is a good time to buy. In addition, the share of those respondents saying they believed home prices would go up in the next year dropped significantly. This, even though respondents continue to say that the main barrier to entry-level homeownership today is high prices. Consumer confidence is good for the time being, but when it shifts, it shifts rather fast and usually effects the real estate market. If you’ve been thinking of selling, the current conditions are in your favor, but won’t last forever


Posted on October 13, 2017 at 4:49 pm
Steven Galindo | Posted in Home Seller Advice |

Today’s Consumer Confidence Index Report

Consumer confidence can effect the real estate market and currently the Consumer Confidence Index is down .6 point which is nominal and consumers assessment of economic conditions remains favorable


Posted on October 12, 2017 at 8:23 pm
Steven Galindo | Posted in A Thought About Real Estate, Home Seller Advice, Real Estate News |

What Is a Listing Agent? Why a Home Sale Hinges on Agent’s Expertise


Posted on October 7, 2017 at 2:31 am
Steven Galindo | Posted in Home Seller Advice |

What is a listing agent? Here is the answer…

What Is a Listing Agent? Why a Home Sale Hinges on Agent’s Expertise

If you’re getting ready to sell your home, finding a listing agent should be at the top of your to-do list. But just what is a listing agent? You might have a vague mental image of someone who plants a “For Sale” sign on your front lawn and shows potential buyers around your place, but there’s plenty more to it.

Here’s a primer on what a listing agent does, how the agent makes or breaks your sale, and how to find the right agent for you.

How listing agents help you price your home

How much is your home worth? That’s a hard question to answer and that’s where a good listing agent can help.

And the stakes are high: Price your home too low, and you could lose out on a lot of money. Price it too high, however, and the picture isn’t pretty either. While it may be tempting to work with an agent who says he can fetch a fortune for your home, overpricing may mean your home languishes on the market for months or even years—making buyers wonder if something’s wrong with your home and lowball you anyway. Listing agents have many duties and responsibilities, but at the top of the list is to properly price your home.

To do this, a listing agent will analyze the sales prices of comparable homes, or “comps,” in your area to see where yours should fit in, and advise you accordingly.

How listing agents help you sell your home

After you determine an asking price, a listing agent should provide you with a comprehensive marketing plan detailing how she’ll get your property sold. This plan should include the following:

  • Recommendations for home improvements or home staging, if necessary. Yes, these alterations will cost you time and money, but they will improve your chances of a faster sale and higher asking price.
  • Taking photos or hiring a photographer who will be able to highlight your home’s best features.
  • Adding your home to the multiple listing service, where home buyers and their agents can view your property and decide if they’d like to come visit for a closer look.
  • Advertising and holding open houses.
  • Coordinating showings with prospective buyers.

How listings agents negotiate with buyers

Once you get an offer on your home, it’s the listing agent’s job to present it to you and advise if any haggling needs to be done. For instance, if you get an offer way below asking price, your knee-jerk reaction may be to refuse in a huff. But a listing agent might be able to negotiate with the buyers and bring that price up to a decent level—or, if the buyers truly can’t budge much, find other ways to sweeten the deal like a faster closing date or waived contingencies. These compromises can actually save you tens of thousands of dollars.

How much listing agents get paid

Listing agents don’t receive a dime unless your home gets sold. If it does, the typical agent commission is 6% of the price of your home (which is typically split between the listing agent and the buyer’s agent). This price may seem substantial, but consider this: For every hour an agent spends with you, he will spend an average of nine hours behind the scenes working on your behalf. In other words, listings agents work hard to earn that commission and get your home sold. (Realtor.com)


Posted on October 5, 2017 at 4:31 pm
Steven Galindo | Posted in Home Seller Advice |

Home Buyer Advice: How to increase your advantage in a competitive housing market

The best advice I can give is to get pre-qualified, which is an easy step to get you one foot closer to your dream home. During pre-qualification, the bank will review your credit and income, then draft a cost analysis specific to your price range.

A pre-qualification letter will then be provided, which gives your realtor leverage in contract negotiations. It also gives you, the buyer, more credibility, which is essential in today’s multiple-offer environment, as countless buyers lose out simply because they aren’t pre-qualified or are offering too low of a bid.

Because of the combination of high residential values, historically low rates and a diminishing housing inventory, it is seriously recommended you contact your lender for a financial checkup.

Scenarios in which houses on the market receive multiple offers and subsequently sell above asking price have become the standard.

Contact your bank and give yourself the competitive advantage needed in today’s fast-paced real estate market.  (Memphis Business Journal)

 


Posted on October 3, 2017 at 6:22 pm
Steven Galindo | Posted in Home Buyer Advice |

Can you add the cost of any renovations you’ve made to your asking price? Answer: No…

Let’s say you overhauled your kitchen or added a deck. It stands to reason that whatever money you paid for these improvements will be recouped in full once you sell—after all, your home’s new owners are inheriting all your hard work.

The reality: While your renovations might see some return on investment, you’ll rarely recoup the whole amount. On average, you can expect to get back 64% of every dollar you spend on home improvements. Plus that profit can vary greatly based on which renovation you do. Have any other questions? Call me today…

Posted on September 29, 2017 at 4:16 am
Steven Galindo | Posted in Home Seller Advice |