Home Buyers

Frontdoor.com – HGTV Helps Home Buyers and Sellers

Posted on March 19, 2008. Filed under: Blogroll, Home Buyers, Home Sellers | Tags: , , , , , , , |

www.Frontdoor.com is a very natural move for HGTV – They have been helping home owners (and renters) design/decorate for some time. Now, through www.Frontdoor.com, HGTV will be assisting their home buying viewers in locating their dream homes too.

www.Frontdoor.com is still in “beta” – so stay tuned, as much is still being worked out. But I imagine that www.Frontdoor.com will have every real estate broker/firm beating down their online door so-to-speak in no time – for a chance to advertise on this innovative website.

Real estate brokers/agents will be able to add/feed their current listings onto the www.Frontdoor.com site for wonderful exposure to home seeking buyers. Brokers/agents will also be able to explore banner and other advertisement opportunities through the website.

 As a real estate agent of Prudential California Realty (in San Diego, CA) I am very pleased that Prudential is one of the first brokers to jump on this excellent opportunity. Not only is it a great advertisement opportunity for Prudential brokers/agents; it is also an excellent benefit for the clients we serve each day. Homes for sale/listings will get even more market exposure – which can mean faster results and closed escrows for home sellers!

www.Frontdoor.com has the potential to make a great impact on the real estate industry. I think it will prove to be a valuable resource for everyone – buyers, sellers, and brokers/agents.  

 I would love to hear your comments!!

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If you need assistance buying/selling homes in San Diego County, or have general questions, please visit www.RaquelBundy.com – you can also search the MLS 24/7 Free!

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San Diego Home Buyers/Sellers – How to Choose A Realtor For Your Next Home Purchase or Sale!

Posted on May 14, 2007. Filed under: Home Buyers, Home Sellers |

San Diego Home Buyers and Home Sellers certainly have a plethora of Realtors® and Real Estate Agents to choose from and it can be a confusing process.  (Yes, there is a difference between a Realtor® and a Real Estate Agent! – Later on, you may wish to read my previous blog article: “Are All Real Estate Agents Realtors?”). 

The California Department of Real Estate (DRE) estimates there to be 427,389 real estate licenses held in the state of California which, by the way, is rapidly growing as we speak.   More San Diego Home Buyers than ever are turning to the Internet when it comes to Real Estate.  (See my previous blog article: “San Diego Home Buyers- Surfing The Net?”).  This method of choosing a Realtor®  is ever-increasing!  It is no wonder that so many Realtors® now realize the importance of web presence! 

Of course, many San Diego Home Buyers and Sellers still choose their Realtors® the good old fashion way – Open Houses, etc.  Whichever way you decide to go, you will want to take some precaution.  You will be hiring your Realtor® to help you buy or sell that home of yours – Perhaps the largest investment of your lifetime.  I will share with you some great tips to help you choose a great Realtor® that will work hard for you and your Family.

First, it is my own personal opinion that I recommend you to find out whether they are a Realtor® or not (A Member of the National Association of Realtors (NAR)).  Members of the NAR have access to many more seminars, training classes, tools, resources – Not to mention we must also follow and adhere to a strict Code of Ethics and Standards of Practice (See my previous blog article for more information on this topic).  This may or may not be a “deal breaker” for you but is in your benefit to know.

You might wish to ask if that Realtor® works Full-time.  The more time and effort they can dedicate to getting your Home sold or negotiating that Home Purchase for you – the better off you could be!  Afterall, your Home is one of the most important investments of your lifetime.  It is in your benefit to make sure you are not choosing a Realtor® who is already spread thin with time and resources.

How often will that Realtor® be able to meet with you to show you Homes to view if you are a Buyer?  If you are a Seller, how often will you receive updates (in person or by phone/e-mail) on the statistics of your Home’s showings?  And, what specifically which results are tracked? 

What Days/Hours will they be available to work?  And, if they are in a meeting or on an Appointment with another client – What is their usual turn-around time for returning phone calls and e-mails?

Another great piece of information you might want to know beforehand is how Internet savvy they are.  You can find this out by asking that Realtor® for their website address(es).  Check out their professional website.  Is this Realtor® one that has a professional appearance suited to represent you in this transaction?  Afterall, other Buyers, Sellers and Real Estate Agents/Realtors in San Diego will go to their website too.  And, If you are a Home Seller, will your Home be displayed on that agent’s website?  If so, how so.  Will it have a prominent spot on their website?  Keep in mind that If it takes more than a click or two from the time a visitor gets to the homepage – your Home Listing ad/property profile could be lost in the shuffle.  It should be near effortless for a prospective Home Buyer.

What types of Internet advertisement will that Realtor® do for you, if you are a Home Seller in San Diego?  This entails several things, really.  Does that Realtor® have proper advertisement on his professional website (so that Home Buyers may find him through that route)?  If your Home will be displayed on his/her website (I hope so), you will also want to feel secure that it will be found by potential Buyers! 

Sellers – You will also want to know that your agent will be advertising on various sites such as SignonSandiego.com, Yahoo! Real Estate, Realtor.com, LATimes.com, RealEstateJournal.com, All major real estate company websites (with IDX – for MLS Search Integration) to name just a few!  There is no such thing as too much online exposures when selling a San Diego Home!  This is because approximately 85% of Home Buyers will search San Diego Homes on the Internet before viewing in person or setting foot inside that Home.  If your House is For Sale, you will want Buyers to be able to find it when they are looking online for it.  This can be crucial to a successful sale (Of course, there are other methods of finding Buyers – but online exposure is an important one these days).

How long have they been in the business?  What type of work experience do they have?  What did they do before becoming a Realtor®?  Of course, you will want an agent that shows they can stick it out for the long haul.  However, do not simply assume that the Old Pros are always better!  (I have seen many agents in the business 15-30 years that cannot properly price a Home or are not Internet savvy or do not know how to change with the times of a new market!)

How has this Realtor® customized or altered their Buying/Selling Proposal to accomodate the type of market you are currently in?  One of the biggest problems is that some do not bend or flex their strategies over time, as needed.  The “If it aint broke, don’t fix it” mentality.  This is especially dangerous in a market such as the one we are now currently in!  Many Real Estate Agents got used to Homes practically flying off the market on their own – in mere days to weeks.  That is not the market we are in presently.  There is great need for one’s plan to evolve with the times.

Why did they choose to become a Realtor®?  This is one of the most simple questions imaginable, yet so important to ask!  This one is often not thought of.  Why so important, you might think?  Because you are looking for an agent with pure, genuine Enthusiasm for Real Estate deals!  If there is passion in their work — if they absolutely love what they do — and love helping others then that enthusiasm can go a long way!  They will enjoy their work and work harder to help you reach your goals.  It is not something that should ever be underestimated.  This alone could mean more than all the other questions combined. 

Last but definitely not least – Do you feel comfortable working with this Realtor®?  Do not ignore your ‘gut’ feelings/instincts.  Whether the Home sells in 1 week versus 6 months, you will want your experience to be a pleasant one!  You should expect to spend lots and lots – and lots – of time with this person.  Make sure the experience will be enjoyable on a personal level as well as on a professional level. 

My suggested questions should give you a terrific foundation for a friendly interview.  Make it flow within your conversation.  Pay attention to their verbal responses as well as body language/posture and also eye contact.  Feel free to add or take away from my suggested questions as you see fit for your personalized conversation. 

I certainly hope this helps you choose a San Diego Realtor®  that is perfect for your next move.  At the very least, they may help inspire you to think of questions that are important to you personally. 

If you are a San Diego Home Buyer/Seller who found this article useful when choosing a Realtor or if you have questions/comments you’d like to add – I would love to hear the feedback. 

If you’re a Home Buyer or Home Seller in San Diego County in California, you are welcome to view my professional website with MLS instant access and community links.

Warm Regards!

Raquel Bundy of Prudential CA Realty

www.RaquelBundy.com

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage! 

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The Notice of Default Process

Posted on May 4, 2007. Filed under: Home Buyers, Home Sellers |

THE NOTICE OF DEFAULT PROCESS – nonjudicial foreclosures

(homeowners & association members)

Foreclosure proceedings are initiated with a Notice of Default or (N.O.D.).  The Notice of Default is recorded at the request of the lender by the trustee which, in effect, gives notice to the public that the loan is in default.  The actual recording of the notice takes place at the County Recorder’s Office in the county in which the property is located.  It denotes essential data pertaining to the trust deed, the amount it arrears, address of the property, and the date of recording.

In the state of California, the trustor (Borrower) has ninety days from recordation of the notice of default to reinstate the loan (to make the loan current by paying all payments in arrears, any late charges, or other deficiencies).  The law requires the lender to accept the trustor’s reinstatement money during this ninety day period.

The following represents, in summary, the assessment lien and nonjudicial foreclosure process.  The “Pre-Lien” notice is required pursuant to Civil Code Section 1367.1(a).  This Code Section also requires that the minimum time period between the mailing of the “Pre-Lien” notice to the member and the recordation of a Notice of Delinquent Assessment (“Lien”) is 30 Days.  Civil Code Section 1367.1 (g) requires a minimum time period of 30 Days between the recording of a Lien and the recording of a “Notice of Default” which begins the nonjudicial foreclosure process.  The minimum time period for the nonjudicial foreclosure process is three months plus three weeks for publication as set forth in Civil Code Section 2924.

Pre-Lien Notice (Association Members)

With the passage of Assembly Bill 1317 in 1996, a pre-lien notice is required to be sent to a member who is delinquent in the payment of membership assessments.  This notice must include an itemized statement of the assessments, late charges and collection costs charged to the member’s account, describe the procedures used by the association to collect delinquent assessments and certain prescribed disclosures.  The pre-lien notice must be mailed, by certified mail, to all owners at their last known address and before the recording of a Notice of Delinquent Assessment.  With the passage of Assembly Bill 2289 om 2002, the minimum time period between the mailing of the “pre-lien” notice to the member and the recordation of a Notice of Delinquent Assessment (“Lien”) is 30 Days (effective January 2003). 

Notice of Delinquent Assessment (Association Members)

The Notice od Delinquent Assessment, when recorded, creates a “Lien” on a property.  This Lien represents a claim against the real property of the delinquent member.  In additio to any requirements specified in the association’s CC&Rs, the Notice of Delinquent Assessment must include the legal description of the subject property, a detail of the assessments, late charges, interest and costs of collection, the names of all of the record owners and, if the Lien is to be enforced by nonjudicial foreclosure, the name and address and the appointed trustee.  A copy of the Lien must be sent, by regular first class and certified mail, to the owners of the property to their last known address.  This mailing must occur no later than 10 Days from the recording of the Lien.  An affidavit or declaration of mailin gmust be completetd and maintained in association files to evidence compliance with this mailing requirement.

Notice of Default

After the expiration of 30 Days from the recording of the Notice of Delinquent Assessment and, absent receipt of payment of all amounts owed to the association, the trustee will prepare a Notice of Default and Election to Sell.  The official beginning of the “Trustee’s Sale Proceeding” (nonjudicial foreclosure) occurs when the Notice of Default is recorded by the trustee at the county recorder’s office.

There are several parties entitled to receive a copy of the Notice of Default.  The Trustee will mail a copy of the notice within 10 days after recording to the record owners and all persons who have recorded a “Request for Notice”.  Further, the trustee will send notice to other parties having an interest in the property within 30 Days as required by law.

At the time the trustee records the Notice of Default, a “Trustee’s Sale Gaurantee” (TSG) is purchased from a title company.  The TSG is a type of insurance policy which provides the trustee with certain information that is needed to properly conduct a nonjudicial foreclosure and insures the homeowners association and the trustee in the event the information is incorrect or incomplete.

If you have any questions or comments, post your comment, or contact me via my website.  I would be pleased to hear from you.

www.RaquelBundy.com

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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REALTORS® Code of Ethics

Posted on May 4, 2007. Filed under: Home Buyers, Home Sellers |

The Code of Ethics and Standards of Practice of the NATIONAL ASSOCIATION OF REALTORS®

Not all Real Estate Agents are in fact REALTORS®.  REALTORS® are members of the NAR.  To sustain membership, all REALTORS® must pledge to and adhere to a strict Code of Ethics and Standards of Practice.  To see exactly what we REALTORS® pledge to and agree to abide by, click on this link to visit the NAR’s Code of Ethics page.

The NAR page will contain the following sections:

  • Preamble
  • Duties to Clients and Customers
  • Duties to the Public
  • Duties to other REALTORS® 

You may also enjoy reading my other article titled:  “Are All Real Estate Agents REALTORS®?” also in this blog.

Any questions/comments are welcomed.

Raquel Bundy

www.RaquelBundy.com

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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Are All Real Estate Agents REALTORS®?

Posted on May 4, 2007. Filed under: Home Buyers, Home Sellers |

Many people sometimes get the impression that all Real Estate Agents are REALTORS®.  This is not so.  The term or title of REALTOR® is often very misunderstood.  There is a lot of confusion about this and often times it is not explained as well as it should be to the general public.So, allow me to clear this up.  Not all Real Estate Agents are REALTORS®.  So, then your next question for me is probably something like:  Well, what IS a REALTOR® then?By definition, a Real Estate Agent becomes a REALTOR® when he or she becomes a member of the NAR or the NATIONAL ASSOCIATION OF REALTORS®.  NAR, known as The Voice For Real Estate®, is the largest professional association – in the world!The term “REALTOR®” is a registered collective membership mark that identifies a Real Estate Professional who is a member of NAR and abides by its strict code of ethics.Members of NAR belong to one or more of 1,700 local boards/associations and 54 state and territory associations of REALTORS® and can join many societies, institutes, and coucnils of the NAR.  REALTORS® also have the chance to be part of the NAR’s active appraisal and international real estate specialty sections.  So, a REALTOR® is pledged to a strict Code of Ethics and Standards of Practice

Members have access to professional development, research, and exchange of information thanks to a facility provided by the NAR.  REALTORS® undeniably have access to countless resources which can help provide a more excellent experience to home buyer and home seller clients.  The tools that the NAR provides can keep both the REALTOR® and the client well protected during the transaction. 

Now that you know what the correct definition of a REALTOR® is, I leave you with one question:  Are you working with a REALTOR®?

If you are, that can only enhance the resources, tools, information that you will be given through your real estate professional.  If you are unsure, you may want to find out. 

See my other article called “REALTORS® Code of Ethics” which explains the strict Code of Ethics that all REALTORS® must abide by to sustain their NAR membership and the priviledge of calling themselves a REALTOR®.

I personally am a REALTOR® and feel that becoming a member of the NATIONAL ASSOCIATION OF REALTORS® has given me an edge in my profession.  The tools and learning resources available to me through the NAR  have played a large role in my career.  Of course, as with any resource, it is what the individual does with that opportunity.  So this mark or term does not in any way guarantee that every Real Estate Agent will be attending all seminars or taking advantage of all of the other tools and resources.  It is always important to “interview” Real Estate Professionals and then decide who will be the best candidate to help see you through the entire home buying or selling process.

Questions or Comments?  I love hearing from readers.  Whether you are a home buyer/home seller in San Diego, CA or elsewhere, feel free to comment or e-mail/call me via my website.  www.RaquelBundy.com

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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Moving Checklist

Posted on May 4, 2007. Filed under: Home Buyers, Home Sellers |

Although an exciting time, the moving process really does entail a lot of things for us to do!  This can become very overwhelming to many home buyers and home sellers.  Rightfully so!  Moving from one home to the next is certainly a great feat.  As with most things, a little more planning in advance, organizing, and assistance from friends/family/your Real Estate Agent can really go a long way towards make your move a much easier experience overall.  Your next move is a fresh start – a new beginning – so, why not take some extra steps in advance to be more prepared – and have your next moving experience feel more like the exciting experience that it really is.  I’ve included a “moving checklist” designed to assist you the next time you decide it’s time to move.  You may want to print this page out, and mark off the completed items as you go along with your progress.  You may also wish to copy and paste the selections below into Microsoft Word and organize each task into separate bullets that you can then check-off when completed.  Either way, I do hope that this can make your experience that much more pleasant and take some stress off your shoulders.  It takes much longer to come up with a check-off list each time, versus having one made and just doing those tasks!  That is why many organizational experts suggest creating a list once (for packing prior to taking that trip, etc.) and keeping that same list to use for all future times.  This is a great time-saver!

At Your Present Address

  • Give forwarding address at the Post Office.
  • Update address on your Charge Accounts and Credit Cards
  • Update address on your subscriptions.  Notice requires several weeks.
  • Notify Friends and Relatives of your new address. (i.e. Phone, E-mail, Postcards).

Bank

  • Transfer funds, arrange check-cashing in new city.
  • Obtain cashiers check necessary for closing real estate transaction.  Be sure to ask your bank if this check is drawn on a California Institution.
  • Arrage credit references.

Insurance

  • Notify companies of new location for coverages (i.e. Life, Health, Fire and Auto).

Utility Companies

  • Gas, light, water, telephone and fuel.
  • Get refunds on any deposits made.

Delivery Service

  • Laundry, newspaper

Medical, Dental, Prescription Histories

  • Ask Doctor and Dentist for referrals; transfer needed prescription, eyeglasses, X-rays.  Obtain birth records, medical records, etc.

Church, Club, Civic Organizations

  • Transfer memberships; get letters of introduction.

Pets

  • Ask about regulations for licenses, vaccinations, tags, etc.
  • Updating pet name tags with new contact information (phones/address)

And Don’t Forget To:

  • Empty Freezer; plan use of foods.
  • Defrost freezer and clean refrigerator.  Place charcoal or baking soda to dispel odors.
  • Have appliances serviced for moving.
  • Arrangements for TV, Cable, DSL and Antenna.
  • Clean rugs or clothing before moving; have them moving-wrapped.
  • Check with your Moving Company/Relocation Counselor; insurance coverage, packing and unpacking labor, arrival day, various shipping papers, method and time of expected payment.
  • Plan for special care needs of infants.

And On Moving Day:

  • Carry enough cash or traveler’s checks for quick available funds, and to cover the cost of moving services and expenses until you make banking connections in the new city.
  • Carry jewelry and documents yourself; or use registered mail.
  • Plan for transporting pets; they are poor traveling companions if unhappy!Carry traveler’s checks for quick available funds
  • Let close friend or relative know route and schedule that you will travel, including overnight stops; use him as message headquarters.
  • Double check closets, drawers, shelves to be sure they are empty.
  • Leave all old keys needed by new tenant or owner with Realtor or neighbor.

And At Your Future Address:

  • Check on service of telephone, gas, electricity, and water.
  • Check pilot light on stove, hot water heater, incinerator, and furnace.
  • Have appliances checked.
  • Ask Mailman for mail he may be holding for your arrival.
  • Have new address recorded on your driver’s license.
  • Visit city offices and register for voting.
  • Register car within five days after arrival in stte or a penalty may have to be paid when getting new license plates.
  • Register family in your new place of worship.
  • Register children in school.
  • Arrange for medical services; Doctor, Dentist, etc.
  • Update your contact information with employer, school, organizations you are a member of.

Please feel free to contact me if you have any other suggestions or comments.  I certainly hope that this moving checklist can simplify your mind and your life, the next time that you do move! 

Raquel Bundy, San Diego Real Estate Agent

 www.RaquelBundy.com

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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Propositions 60 & 90 – Will They Work For You?

Posted on April 10, 2007. Filed under: Home Buyers, Home Sellers |

“Will Propositions 60 & 90 Work For Me?” is a question that many San Diego CA residents find themselves asking.  I would like to shed some basic light on this topic. 

Proposition 60, under certain requirements, allows for a homeowner 55 years of age or older at the time of the sale of his/her principal residence, to transfer his tax base rate within the same County.

Proposition 90, under certain County requirements, allows a home owner 55 years of age or older at the time of the sale of his principal residence, to transfer his tax base rate from one County to another.

 Now that you have read the purpose of both Proposition 60 & 90, you can determine if either of the two could apply for your situation. 

[Guidelines for the transfer of the Property Tax Base from one principal place of residence to another principal place of residence in-county only.]

So, we already know that one of the property owners must be at least 55 years old on the day of the transfer of the principal place of residence.

The subsequent principal place of residence must be transferred (i.e. close of escrow on purchased home) within two years of the transfer date of the first principal place of residence.

IF the subsequent purchase is less than one year of sale date of the original place of residence, then a five percent inflation allowance is allowed.

IF the subsequent purchase is at least one year and one day but less than two years of the original property, then a ten percent inflation allowance is allowed.

ALL PROPOSITION 60 TRANSACTIONS MUST BE COMPLETED WITHIN TWO YEARS.

Proposition 90 will allow the inter-county transfer of the property tax base if the county supervisors have approved it.  Counties are subject to change without prior notice.  For further verification, please contact your county’s assessor’s office. 

COUNTIES CURRENTLY ACCEPTING PROPOSITION 90:

San Diego…….619-236-3771

Alameda………510-272-3787

Los Angeles….213-974-3211

Orange………..714-834-2727

San Mateo……650-363-4500

Santa Clara…..408-299-5500

Ventura……….805-654-2181

[Guidelines for Proposition 60 & 90 apply if the homeowner wishes to purchase a new principal place of residence prior to the sales completion of his original principal of residence.]

IF a new principal place of residence is purchased first, then there is no inflation allowance!

Here is an Example of how this works:

A home is purchased under Proposition 60 & 90 for the amount of $200,000 before the sale is completed on the original home.  (Deed Recorded).

The homeowner must be certain the original home where the property taxes are being transferred from will sell for at least the purchased price of his new home, $200,000 in this example.

If the original residence does not sell for at least this $200,000, the homeowner would not be able to transfer his lower property tax base to the new home.

It is always a safer situation for the homeowner to sell his/her principal residence first, as he/she then knows what his/her options will be.

If you need further assistance in aspects of Proposition 60 & 90, or would simply like to have a home evaluation done on your home for free, you may request a free home evaluation via my website, or you can contact me directly for further assistance.

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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San Diego Home Buyers/Sellers – Need To Take Caution With Internet CMA Reports!

Posted on April 5, 2007. Filed under: Home Buyers, Home Sellers |

Undeniably, the Internet provides a vast array of tools and benefits for home buyers, home sellers and Real Estate Agents.  Increased listing exposure for sellers.  For buyers, it is all about the education process and saving time “previewing” homes you have never set foot inside before (and may not wish to set foot in!) by viewing home listings from the comfort of your own (current) home! 

However, there are a few services I would proceed using extreme caution.  There are various websites out there that are rapidly rising and have massive Internet Ads and even Television Ads (I will not mention those specific names) that are offering various services to home buyers and home sellers.  One of their services, the one which I will base this entire topic on, is offering a ”Comparative Market Analysis Report” (CMA Report).  

A CMA Report is a very important report.  It is crucial to the home buying and selling process.  This report is basically a list of compiled data which includes home “comparables”.  I have inserted a screen shot image of a CMA Report below, which can be clicked on to expand to its full-size.  This report shows home buyers and sellers several of the most recent home sales in a selected neighborhood or location.  The CMA is commonly used by REALTORS® and has been for a very long time, with good reason. 

Comparative Market Analysis (CMA) Report Sample Screen Shot

The CMA report is formatted as a table and will include data such as home addresses, number of bedrooms, square footage, listing prices, market time, sold dates.  So as you can imagine, this is incredibly necessary information for home sellers to have.  Seeing what other homes have sold for in the area coupled with the length of market time is a crucial component to deciding how to correctly price a home for sale.  It is used when REALTORS® let home owners know their homes’ current worth in today’s market.  It is of course just as important of a resource for home buyers as they are deciding on an offer price for their first home or their dream home.  Obtaining a correct CMA Report is crucial.  It can mean the difference of selling and moving on time.  It can mean an accepted offer on the home of your dreams.

Now.  As far as many of these websites.  The “beef” that I have with them is this.  They do not always provide the best data.  What I mean by this is: they do not always use the best “comparable homes” in their compiled data.  Sure, the address, the sold date, the market time, etc. may all be correct.  However, that does no good, unless you are 120% sure that you are basing your analysis off of what I like to call “true comparables”. 

I believe most of these reports are machine generated, and that is where the problem lies.  Even if there is a representative in charge, there is no way to hand select every Internet CMA request.  Even if they could, they would not be “local area experts” so how in the world can they separate the good or “true comparables” from the bad? 

I went into many of these sites first hand, and I plugged in an address to use as my home address (I used many of my listing addresses as examples, because I knew the neighborhoods and homes incredibly well).  I then request a CMA Report as if I were a home owner/seller wanting to get an idea as to what my home’s value is.  What I found, way more times than I would like to mention, is that the data suggested to me was incredibly inaccurate. 

Inaccurate for various reasons.  Sometimes it was due to lack of the most current comparables in today’s market, which made for bad comparables.  Or the comparables were bad simply because the type of some of the homes generated on the report was different in some way, and therefore would not be a “true comparable”.  Or the home comparables drawn up and used were in the same zip code but a very different neighborhood within that region, which equals even more “bad comparables”.  Of course, in Real Estate, everyone knows location is everything.  Location, Location, Location.  Computer generated CMA reports cannot differentiate whether one house is located near a landfill or the ocean (I know, that’s extreme!).  It also cannot tell whether a house that was sold was priced correctly or not by that previous listing agent.  Only a live human being (who also is a trained, licensed REALTOR® and an expert in the field) can ”weed out” and accurately tell you about the recent sold comparables in your market area.  That is really what it seems to come down to, unless these computer systems get “smarter”.  But, I have a feeling we are far from that day. 

No matter how one looks at it, incorrect data means incorrect analysis and that leads to incorrect pricing in ones’ mind, which can end up being very costly (in both time and money).  Due to incorrect data out there, many people may have inflated ideas of what their home is worth and will therefore stay on the market too long, because they did not know their true home value.  Others may be underpriced and lose thousands or tens of thousands that they could have gained if they had the right information early on.  Buyers may get the house they put an offer on, but little do they know, they could have gotten it for much, much less.  Some Buyers will have their offers rejected and will lose their dream home, which would then be sold to another buyer, because of a too low offer.  In any of these example scenarios, people can lose big due to incorrect pricing.  Pricing is everything.  Knowledge is key. 

Real Estate, for most of us, is the largest investment of our lives.  Why take any chances.  I am not suggesting to run away from those websites.  However, I would strongly recommend contacting an excellent local REALTOR® for their opinion.  Hear what they have to say.  It should be offered as a free service to you.  Tell them you already have a CMA Report, but are interested in a second opinion.  Get their opinion on the accuracy level of that original report — and then go from there. 

If you are a home owner, home seller or home buyer in San Diego, CA that would like to Request a free CMA Report, you can visit my site and easily submit a request.  Typical report turn-around time is within 24-48 hrs.  Enjoy!

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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San Diego Home Buyers – Surfing The Net?

Posted on April 5, 2007. Filed under: Home Buyers |

More and more San Diego Home buyers are surfing the Internet to find their next home.  According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), over the past few years, the Internet buyer has become the “typical” home buyer.  Today, over 70 percent of home buyers use the Internet as an integral part of the home buying system.  Compared to 2001, that is nearly double. 

“The Internet is changing the dynamics between buyers and their agents, as well as the way business is conducted throughout the real estate industry.  However, while the Internet has become an important research tool for home buyers, it has only enhanced the REALTOR®’s role in the transaction,” said C.A.R. President Vince Malta.  “Buyers continue to rely on their REALTOR® for help with interpreting the information gathered from the Internet and to guide them through the home-buying process.”

According to C.A.R.’s “2006 Internet Versus Traditional Buyer Survey”, more than nine out of 10 Internet buyers indicated that the Internet helped them to better understand the home-buying process.  Additionally, Internet buyers are accustomed to receiving more frequent communication and faster response times from their REALTORS®.

“More and more consumers have high-speed Internet access at home, enabling them to gather information on all types of products and services both quickly and easily,” said Malta. “This trend has carried over to the process of buying a home. As a result, home buyers are more informed, have a greater sense of control over the process, and hold high expectations concerning how quickly they receive information.”

Other key points from C.A.R.’s 2006 Internet Versus Traditional Buyer Survey include:

• The median age of Internet buyers was 39 years compared with a median of 42 years for traditional buyers.

• More than 9 out of 10 Internet buyers were married, while nearly 8 of 10 traditional buyers were married.

• Seventy-three percent of Internet buyers had at least a four-year college degree and 11 percent completed post-graduate work.  By comparison, 72 percent of traditional buyers held a college degree and 5 percent completed post-graduate work. 

• Internet buyers had an annual income of $184,900, compared with $148,910 for traditional buyers.

• Internet buyers spent an average of 5.8 weeks considering buying a home before contacting a REALTOR®, nearly three times more than traditional buyers, who spent 2 weeks in this stage of the home-buying process.

• Internet buyers spent 2.2 weeks looking for the home they ultimately purchased, compared with 7.1 weeks for traditional buyers.

• Fifty-four percent of Internet buyers said the information that they gathered from the Internet was less useful than that provided by their REALTORS®; none considered the information gathered from the Internet to be more useful than that obtained from their REALTORS®.

• All first-time buyers typically spent 5.3 weeks considering buying a home and 4.3 weeks investigating homes for sale before contacting a REALTOR®. They then spent 3.2 weeks previewing eight homes with their REALTOR®. 

• All repeat buyers spent 3.3 weeks considering buying a home and nearly three weeks investigating homes for sale on their own. They spent 5.4 weeks previewing 13 homes with their REALTOR®.

The Internet has brought many advantages to the home buying (and selling!) process.  Home buyers can “preview” homes by browsing through dozens of listings on the Internet or via e-mails that their REALTOR® should be sending.  It clearly saves time.  Why set foot into a home that you have never seen before?  It makes so much sense in today’s world to view photos and stats before viewing most homes in person.

For anyone who would like to search San Diego homes for Free, my website does have real-time MLS access.  There is no sign-up or registration.  You can begin your home search without any delay.  Enjoy!

https://sandiegocahomes.wordpress.com/ – Visit my Blog’s Homepage!

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