You Need to Watch This Video

Discount brokerages/shops are becoming more and more common these days,
but today I’ve got an important message to share about their services.

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As many of you may know, the real estate market is changing. For those of you who have thought about selling in the next few weeks, months, or the coming years, you’ve likely noticed the impact of these changes first-hand during your preliminary research.

Discount brokerages/shops have been popping up all over the country and here in San Diego County. They promise dramatically decreased commissions and a quick sale. As someone who’s passionate about a great deal myself, I understand this completely.

However, what these brokerages don’t tell you is that discounted fees will also mean discounted service and ultimately the price they get for your property. You may save a few thousand dollars in commission, but the diminished level of service/marketing/contacts/negotiating skills will potentially cost you tens of thousands because it’s not what they do. True professional Realtors fight to get you as much money for your home as possible.

In the age of the internet, online services can serve as a convenient alternative to more traditional methods of securing goods or services. However, is the supposed convenience actually worth it when it means your bottom line will be drastically lower?

Online and discount services like these are driving home prices and values down all over the country and San Diego County which is why certain communities around the country are going so far as to try to ban them.

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Are you really saving money with the
discount shops and online brokerages?

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The bottom line is this: These services may initially sound like a good deal, but they’re actually very harmful to the industry and to your success as a seller.

Traditional, full-time agents like me will have the knowledge, experience, and track record you need and deserve when it comes time to sell your home.

When it comes to real estate, you get what you pay for. Don’t trust your success to a discount brokerage/shop that can only offer discounted results.

If you have any other questions or would like more information, feel free to give me a call. I look forward to hearing from you soon.

If you have any more questions about our market or you have any real estate needs at all, please reach out to me. I look forward to speaking with you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Your June 2018 Real Estate Market Update

Home prices are increasing, but inventory is shrinking in our San Diego market. If you are a buyer, buy now—do not wait any longer.

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Ok, so we’re halfway through 2018... so what’s happening in the market today?

1. New homes coming on the market are up about 4%, which is great for buyers but still lower than we would like.

2. Homes entering escrow are about the same—again, everything sells in San Diego.

3. Home prices have increased 6% - 8% depending on where you live in San Diego County, which is exactly what I said a year ago. And for you renters, if you were looking to buy a $500,000 house last year and decided to wait, you just lost $40,000 in equity.
 

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Stop waiting to buy—there is not
going to be any major crash.

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4. Total homes for sale is down about 2%—inventory is continuing to shrink and the number of days a home is on the market is continuing to shrink as well. This is great for sellers, but tough on buyers, but if you have a good agent/broker who can package your offer correctly, you will get a house.

5. Most activity seems to be with the move-up sellers and buyers—lots of activity for smaller homes/condos/townhomes and less competition for more expensive property.

So don’t waste any more time—move up. And you renters out there, stop missing out on $40,000 a year. Call me and I will help you. It’s what I do.

If you have any more questions about our market or you have any real estate needs at all, please reach out to me. I look forward to speaking with you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How to Get Rid of PMI and Save $200 - $400 a Month Today!

Do you have private mortgage insurance? If so, here’s something very important that you should know.

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I know a lot of you out there are paying for PMI (Private Mortgage Insurance) which can be as much as $400 a month. Private Mortgage Insurance is a premium you are charged because when you purchased your home you didn’t have 20% of the purchase price to put as a down payment. This protects the lender in the event you (borrower) stops making payments.

If you haven't noticed, housing prices have been on the rise for several years and many of you now have 20% equity -- And what a shock— your lender isn’t telling you this.

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You can save yourself $200 to $400 a month.

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You need to call me right away!! I will run comparables (comps) based on recent sales in your neighborhood and give you a good idea if you now have 20% equity which will potentially save you hundreds of dollars a month. If you do, contact your lender straightaway to have them run an official appraisal to validate your current equity and eliminate your PMI!! Start saving $$$$$$$$ today!

If you’re curious about this or have questions about the value of your home, don’t hesitate to reach out to me. I’m here to help!

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Should you accept an offer Contingent on the Sale of another Property?

In this competitive market, the first offer you receive is often going to be the best one.
Let me explain.

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Should you accept an offer Contingent on the Sale of another Property?  Here are three different pricing scenarios that will help you answer that question.

1) If you’re selling a house that’s worth $500,000 or less.

Typically, in this situation, the answer is no. Ultimately it’s up to you, but my advice is to not accept a contingent offer here. The San Diego market is always scorching-hot and there are plenty of other non-contingent offers out there just waiting to be accepted.

2) If you’re selling a house worth $500,000 to $700,000.

In this scenario the answer depends on where the buyers are in the process of their own sale, so that’s a factor you need to pay attention to. If they haven’t listed their home for sale yet, you absolutely shouldn’t accept their offer. If their house has been on the market for 30 days or more, you should also decline their offer— it’s likely overpriced. If their home is under contract—meaning they’ve accepted an offer and they’re currently in escrow—and they’ve made you a good offer, that would be worth taking a look at. However, this can get tricky, and there are a few factors you need to consider. First, you’ll want to know where they are in the escrow process. More importantly, you want to find out if they’ve done their home inspections, appraisal, has their loan been approved, have the request for repairs been negotiated and if the buyers have REMOVED ALL CONTINGENCIES AND ARE NOW CONTRACTUALLY COMMITTED TO PURCHASING THE HOME?  If this has all been satisfied in most cases you are good to go.

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If you’re selling a house worth $500,000 or less,
don’t accept a contingent offer.

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3) If you’re selling a house worth $700,000 to $1 million.

Most of the offers you get in this scenario will be Contingent on the Sale of another Property, so the same rules I applied to the previous scenario apply here as well. I’ve also sold several homes listed above $1 million, and at this range, you typically don’t have to worry about Contingent Offers.  Buyers usually either have the available cash or some other payment method that doesn’t require selling another property. If you have any questions, please feel free to give me a call. I'd be happy to help you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

The First Offer Is Often the Best

In this competitive market, the first offer you receive is often going to be the best one. Let me explain.

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The first offer is oftentimes the best offer. As you know, buying here in San Diego isn’t always the easiest thing to do. The demand is so high and the buyer/buyers may have been looking for months and writing up to 10 or more offers with no luck. So when the perfect home comes along they (buyer/buyers) tend to write their best offer right out the gate (they are tired of losing and they have learned what it takes to get an offer accepted).

The first offer is oftentimes the best offer.

I can see why sellers might think it’s a good idea to wait for more offers, but you should respond to the first offer immediately so you don’t lose them. If you price your home correctly, there’s no reason your home shouldn’t sell right away for the most amount possible. In fact, the lower you price it, the more money you will end up getting (call/email/text me and I will explain how this happens and let you speak with my clients). If you have any questions, please feel free to give me a call. I'd be happy to help you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Stop Losing Money

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Does this sound like you?   “I’m going to wait a year before I buy a home.”   “I’m saving up more money.”  The market is going to crash.”  This was said to me a ton in 2017.

Now a year has passed, and that $500,000 home you were looking at last year is currently worth approximately $540,000. 

Interest rates have also gone up, just like we all predicted.  What does this mean?  Your mortgage payment has gone up about $200 a month because interest rates are higher and the same house is now a year older and $40,000 more.   Most people cannot save fast enough to beat the market so you are losing money every month you wait – thousands of dollars a year.

If 2018 mirrors 2017 which is supposed to happen, home prices and interest rates will go up, making it more expensive to buy a home. 

My advice is simple: Don’t wait any longer. Buy a home now – it’s an investment in your future. Homeownership is great and building your wealth is fantastic, so jump in with both feet. 

If you are thinking of selling and buying a new home because you are downsizing or upgrading, there are a few things you should know. 

My clients often say, “I think I will wait for the market to go up a little more so I can put more money down on my next property.”  I totally understand this thought process. But, as your house increases in equity or value - guess what?   Your replacement home is also increasing in value and interest rates are rising so your purchasing power on your new home is decreasing – costing you money.

Unless you plan on cashing your chips and moving completely out of state, it doesn’t matter when you sell and buy. If the market goes down, the value of your replacement property goes down; if the market goes up, the value of your replacement property goes up.

So, if you are thinking about selling, do it now. Interest rates are still relatively low, but they are expected to go up even more. Sell your home now so that you can lock in a low interest rate for your replacement property. 

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to

solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.