Shopping for Your Home

Wednesday, January 30, 2013

Positive Signs for Single-Family Housing




By Ruben Gonzalez Jr
Prudential California Realty (DBA)

Single-family home sales will continue strengthening, according to latest report from the Urban Land Institute (ULI).

The Real Estate Consensus Forecast, ULI’s semi-annual survey of the nation’s leading real estate economists and analysts, examined 26 economic and real estate indicators in the third quarter. The report predicted healthy estimates for single-family housing as compared to ULI’s March report.

“The predictions diverge from the previous forecast [from March] in that it is more optimistic regarding the single-family housing sector,” said ULI Executive Director Dean Schwanke.

According to the report, single-family housing starts are projected to increase by 145,000 units in 2013, while home prices are expected to rise 3.9%. Meanwhile, single-family home starts, which have been near record lows, are projected to increase from 530,000 in 2012 to 800,000 in 2014. All of these numbers show improvement from ULI’s March forecast.

“Finally, the single-family housing sector is experiencing a turnaround that is expected to continue,” said Schwanke. “The ULI Consensus Forecast from March projected a stabilizing housing market, and the most recent numbers have been strong, leading forecasters to be even more optimistic going forward.”

 Ruben Gonzalez can be reached at (562) 507-0754 or  Email me.
Prudential (dba) is an independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.

Wednesday, January 23, 2013

Home Sellers: Check your Home for Storm Damage





By Ruben Gonzalez Jr.
Prudential California Realty (DBA)

It’s been another crazy year of weather with many big rain and wind storms damaging houses throughout the country. With fall upon us and winter around the corner, home sellers should take a close look at their property for storm damage and make repairs.
If you experienced a powerful storm, it’s a smart idea to check your roof for any damage and ensure there are no missing shingles or cracks around any skylights the home may have. Climb into your attic and look for discoloration of the decking or plywood surfaces.
Also look for light penetrating from around plumbing vents or the chimney, indicating that your roof’s flashing needs repair.
Next, inspect your rain gutters for damage and clear them of leaves and debris. Look for holes, cracks or sags; all three can be easily fixed by a homeowner. (To fix a small hole, first use an abrasive pad to clean the area, then cut a piece of gutter material slightly larger than the hole. Using a stiff brush, spread gutter-repair compound around the hole and place your patch over the top. Cover the patch with another layer of compound to ensure a good seal. To repair minor sags, simply add a new hanging bracket to the sagging area or replace the compromised existing bracket.)
Pay particular attention to areas of your home near trees and shrubs. Limbs can play havoc with your roof, siding and stucco in heavy winds, and can come crashing down under the weight of snow. Prune your trees and shrubs to ensure their health and to safeguard your home.
Finally, be sure to inspect your windows, fencing, decking, which also take a beating in storms. Seal and repair any damage.
Sometimes storm damage is unavoidable. But making quick repairs can help ensure your home is safe, sound and ready for sale.


Ruben Gonzalez can be reached at (562507-0754 or Email me.


Prudential (dba) is an independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.

Saturday, January 19, 2013

Earnest Money Deposit




By Ruben Gonzalez Jr.
Prudential California Realty (DBA)

Most homebuyers today understand they need a sizeable down payment and a strong credit score to secure a conforming home loan. Buyers also must hold liquid funds for another financial obligation – an earnest money deposit – to be paid when they make an offer on a home.
In short, earnest money is handed over to the seller’s agent or the title company when a purchase contract is signed. This demonstrates that the buyer is serious about the transaction and is backing it up with cash.
Without earnest money, buyers could simply make offers on many homes, essentially taking them off the market until they choose a favorite. Sellers rarely will accept offers without such deposits.
There is no set amount for an earnest money deposit so it can be up for negotiation. If the home is popular with multiple bidders, the seller may ask for up to 3% of the asking price as earnest money. Ideally, the amount is enough to impress the sellers, particularly when they’re entertaining several offers.
Assuming the transaction results in an accepted offer, earnest money goes toward the buyer’s down payment and closing costs. If the transaction falls through, the buyer may have to forfeit a nominal cancellation fee or more.
Be sure the purchase agreement outlines the refund process. Remember, a buyer can lose earnest money through default, which happens when he or she does not perform according to the terms stipulated in a purchase and sale agreement. 
Work carefully with your Prudential Real Estate agent to ensure a clear understanding of all terms and obligations.

 Ruben Gonzalez can be reached at (562) 507-0754 or Email me.

Prudential (dba) is an independently owned and operated broker member of BRER Affiliates LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.

Wednesday, January 16, 2013

Be Mindful of your Safety and Property During your Homeselling Process




By Ruben Gonzalez Jr
Prudential California Realty (DBA)

            If you’re selling your home, you have enough to think about without worrying that your home isn’t safe, or that your things may be stolen.
            Yet, whether from open houses or scheduled showings, strangers are coming and going in your house all the time. By taking a few safeguards, you can ensure that you don’t need to worry about such things and better protect your belongings in the long run.
            Of course, the easiest solution is to remove valuable jewelry, fine art or collectables beforehand, storing them with a friend or family member. If that’s not an option, then find a place to hide valuables in the home or keep them with you in a suitcase and take the suitcase with you in the car every time you leave yourself. 
            This should also be done for personal information and file cabinets that may contain papers with your account numbers and/or social security information. And don’t forget the medicine cabinets, as this is often an area that people steal from.
            You should always keep your doors and windows locked and when returning to the home following a showing, double-check that they remain secure. Often, prospective buyers will open windows or doors to make sure they work or to see another part of the home. Although it may seem far-fetched, there have been incidents where people unlock doors when looking at a home and go back later to steal things.
            One tactic involves people coming to the house multiple times and bringing a new person with them, who explores rooms when the agent is being distracted.
            “While one person has your attention, the other raids jewelry boxes and medicine cabinets for narcotics,” said Robert Siciliano, an ADT.com security consultant who offers real estate advice on his blog. “In high crime areas, consider hiring an off-duty police officer to watch the property during a showing. You can’t possibly watch everyone during an open house.”
            It may seem like a silly time to install an alarm system since you will be moving soon, but adding a security system will not only deter burglars but can also be a strong selling point of the house. People like safety features in the home.       
            If you are selling a home in which you’re not currently living, consider installing motion sensors that will automatically turn on lights when it’s dark. You can also put a few lamps on a timer so it appears someone is home when you’re out.
            Reach out to your neighbors as well and ask them to keep an eye on your place. It’s always a good idea to introduce neighbors to your REALTOR® so they know things are OK when the agent is on the premises.
            By taking a few extra precautions, you can feel safe and secure during a home sale.

Ruben Gonzalez can be reached at (562) 507-0754 or Email me.

 Prudential (dba) is an independently owned and operated broker member of BRER Affiliates, Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.  

Wednesday, January 9, 2013

A Souped-up Laundry Room Can Make a Difference for Home Sellers, Buyers




By Ruben Gonzalez Jr
Prudential California Realty (DBA)

            One of the most dreaded chores around the house is laundry. Maybe that’s why when selling a house, the laundry room is one of the most forgotten areas to get in shape. The machines are often dusty, with detergent dripping down the sides and lint and old socks on the floor. 
            Yet it’s an area that doesn’t take too much time to clean and can really make a difference when showing your house to prospective buyers.
            The easiest way to make a statement with a laundry room is by adding more energy-efficient washing machines and dryers. Recent statistics by the U.S. Department of Energy show that installing machines with the ENERGY STAR label will decrease water costs by up to 50 percent. There are also machines that automatically adjust the water temperature and the amount of water used for each load to prevent excess and waste.
            Many new models are available with designer colors, pedestals and sleek designs, which can make a bold statement. When purchasing a new washer, you’re also going to need to choose between a front- or top-loading machine. While a top-loading machine requires enough water to cover all the clothes in its drum, a front-loading washer needs only a third of that amount because its drum is set horizontally in the machine. It requires less water and allows for larger loads, and it looks great.
            On the downside, a front-loading washer is more expensive and can develop mold because it doesn’t empty dirty water as efficiently as a top-loading machine.
            When it comes to dryers, new sensor technology is the rage. Dryers with moisture sensors recognize when laundry is dry more quickly than traditional machines and shut down sooner. This saves energy, cash and wear and tear on your clothing.
The use of steam washers and dryers for greater energy and water efficiency is also a growing trend. Steam machines offer enhanced clothing-care options such as short, steam-only cycles that help to reduce wrinkles and remove odors from clothing without using water and detergent.
            Laundry rooms used to be relegated to the basement, but today, people are finding space for washers and dryers in more convenient areas of the house like the kitchen or upstairs, near bedrooms. Housing experts agree that installing a laundry nook will raise the value of a home, and make it more convenient as hauling baskets of clothing up and down flights of stairs become a thing of the past.

Ruben Gonzalez can be reached at (562) 507-0754 or 

 Prudential (dba) is an independently owned and operated broker member of BRER Affiliates, Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity. 

Wednesday, January 2, 2013

Time for an Appraisal?




By Ruben Gonzalez Jr
Prudential California Realty (DBA)


            One of the most important jobs for your real estate agent is to determine the value of your home by developing a Comparable Market Analysis, which will be used in pricing the home for the right amount.
            If your property isn’t attracting serious shoppers, your agent may recommend that you invest in an appraiser to get a second pricing opinion, as the appraiser will come in with an independent, unbiased opinion to help ensure your price is correct for the market.
            “An appraisal is important in today’s market especially, because it’s an objective and unbiased source of information,” says Michael H. Evans, president of Chico, Calif.-based Evans Appraisal Service Inc. “The appraiser is an independent professional who performs a service for a fee rather than for a commission and is therefore not as invested as others are who are making pricing decisions.”   
Appraisals allow for homeowners and buyers to establish “fair market value.” In addition, an appraisal allows a lender to know how much they can safely lend.
            “Credible opinions of value can help to stabilize the real estate market,” says Joseph C. Magdziarz, president of Chicago-based Appraisal Institute, a global membership association of professional real estate appraisers. “Appraisers today are doing the same thorough, fact-based research and analysis they have always done.”
            A home appraiser will compare the condition of your house in relation to the comparable properties in the neighborhood and will give you a reasonably good idea where your house fits in relation to recent sales.
            According to Evans, a home appraisal can range in length from two pages to more than 100. It will include details about the house, a description of the neighborhood and side-by-side comparisons of similar properties. It will also contain an evaluation of the area’s real estate market, notations of major problems with the property that will affect its value and an estimate of the expected time it will take to sell the property.
            Earlier this year, the Appraisal Institute released several tips for consumers and guidance for homeowners and buyers seeking to ensure their sales are completed in a timely manner.
·        Make sure the lender hires a qualified appraiser (such as a designated SRA, SRPA or MAI member of the Appraisal Institute). The lowest-priced appraiser does not necessarily equate with the most qualified. This is a time to get the numbers right.
·        Accompany the appraiser during the inspection of the property if possible. The more active of a participant you are in the process, the more you will understand it, and be able to catch any errors.
·        Request a copy of the appraisal report from the lender. Federal law requires that you receive a copy of the appraisal within 30 days.
·        Appeal the appraisal if appropriate. Market conditions do change, especially in these economic times. If you feel that new information may change the appraisal, be sure to speak up.
·        Have your agent ask the lender to order a second appraisal by a qualified and designated appraiser.
·        File legitimate complaints with appropriate state board or professional appraisal organizations.
            Remember, you needn’t agree with the outcome of an appraisal. You and your agent can work with the figures and determine if you should change the sale price or not. A home appraisal, no matter how scientific, still ends up being the opinion of the appraiser and to some degree is a judgment call.

Ruben Gonzalez can be reached at (562) 507-0754 or E-mail me.

 Prudential (dba) is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.