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Why use a REALTOR?

Whether buying or selling?  Just a few of the reasons to leave it to a professional!

According to Collateral Analytics, homes sold by owners without representation sell for significantly lower than those from similar properties sold by real estate agents.

- What is all this required paperwork?

Contracts are legally binding and assign obligation and liability. If there is a state law requiring disclosure, it is highly likely the creation of that disclosure arose from the basis of a lawsuit. For the third time in four years, California has earned the title of the nation’s capital for frivolous lawsuits. People are more willing to sue today than ever before. Realtors are not only versed in the contracts and disclosures, their license accreditation requires hours of continued education. Real Estate contracts and forms are constantly being modified as the laws change. Real estate professionals can guide you through the stacks of paperwork necessary for you to complete your transaction smoothly and effectively.

- Are you practiced in the Art of Negotiation?

Real estate agents are experienced in negotiation and have many hours of transaction coordination and management. Within the course of a sale and then escrow, buyers as well as sellers will need to be knowledgeable of, and address conditions and sometimes situations that arise within the process resulting from inspections, repairs, and negotiations.  It’s worth noting that these vendors have developed professional relationships with brokers and agents. They are accountable to these relationships from whom they receive considerable business.

Here is a partial list of some of the people with whom the buyer/seller must be prepared to negotiate:

  • The buyer/seller who wants the best deal possible
  • The buyer’s/seller’s agent who solely represents the best interest of their client
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house.
  • Quotes from contractors, inspectors, and other vendors hired to justify or rectify conditions within the contract.
  • The appraiser if there is a question of value
  • The buyer’s lender
  • The title company as matters affecting title arise
  • When there is a contingency of the sale, possible negotiations with even the buyer’s buyer if there are challenges on the house the buyer is selling.

- What is the home you’re buying/selling really worth?......and it’s not what Zillow says…...

There is a wealth of information out there on the news and internet about home sales, prices, and mortgage rates. Some of it is current. Some is old. Some is inaccurate. Some is even fake. But what about the market specifically in your area? Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one.

Is the home priced correctly? This is an extremely important consideration of both the buyer and the seller. Buyers need to know true value not only to insure they are not overpaying but also to avoid the risk of offending the seller with a lowball offer and creating the threat of a strained transaction. If you are selling, you can’t afford to detour buyer’s attention by pricing too high from the start. Too many “Days On Market” might suggest issues with the product or asking price.

The prudent buyer or seller will do well to warrant the representation of a Realtor® who is not emotionally connected to the home and who has an objective eye.

San Luis Obispo Realty strives to maintain the highest level of service within our community!

 Think of us for any of your real estate needs!

 

US Housing Market in 60 Minutes

“FALL BACK” to Daylight Standard Time!

Look at what happens when the United State Housing Market gains an hour!

Each 60 minutes in the Life of the US Housing Market:

  • 624 more homes are “SOLD” !
  • 347 Homes Regain Positive Equity
  • Median Home Values Go Up $1.13

 

San Luis Obispo Realty can help you “fall” into the perfect home for the holidays!

Call us today! 

Homeowner's Tax Reform

CALL-FOR-ACTION

The California Association of REALTORS® (C.A.R.) opposes the “Big Six” Tax Reform proposal being considered by Congress.

Removing incentives for home ownership, the proposal raises taxes on middle-class homeowners, disallowing the deduction of state and local property taxes. This would be a form of double-taxation if the federal government were to tax families on monies paid to the state and local governments that they never used.

Home ownership is good for families and community and should be encouraged. Studies have shown that home ownership give families the ability to build wealth at a faster rate. The mortgage interest deduction has provided homeowner incentive for over 100 years and should be protected and prioritized by Congress.

If you would like to oppose this tax reform proposal, you can contact our Representative Salud Carbajal’s office by calling 1-800-278-3615 and entering 2024# when prompted for a PIN number.

FOR MORE INFORMATION, Go to http://on.car.org/2017taxreform

Thank you,

San Luis Obispo Realty - The Leaders in Central Coast Real Estate

Perfect Time to Sell a Home

3 Reasons Why This Fall is the Perfect Time To Sell!

For Everything there is a Season….

1  We are still in a shortage of listings in San Luis Obispo! With inventory being limited, buyers are competing with one another to make the score!

2  Fact is, many sellers will put off marketing their home through the holidays. Multiple serious buyers will give your home serious consideration and make serious offers!

3  With housing prices estimated to appreciate by over 5% in the next year (CoreLogic), if your replacement home is higher priced, you’ll be saving money by repurchasing now!

If you are giving consideration to getting your home ready for market and would appreciate the professional opinion of one of our seasoned agents, contact us at 805-544-9161. Why not let San Luis Obispo Realty assist you in finding a home in one of the Best Places on Earth!

Buying a Home - Credit Score

Your Credit Score…..How Do You Rate?

Thinking of making a home purchase within the next year? Your ability to secure a mortgage hinges greatly on your credit score! By familiarizing yourself with the credit report basics you can avoid the pitfalls and instead learn how to maximize your potential for a higher credit score.

It is important to be aware of what is on your credit report. Take advantage of your free annual credit report that you are entitled to receive by each of the three credit bureaus…..Transunion, Equifax, and Experian.

Practice these 6 steps to manage your credit score and prepare to purchase a home:

  1. Request a copy of your credit report every time you get a credit inquiry. It will allow you to site inaccuracies immediately. Correct any errors by reviewing your credit report. This should begin several months before your purchase; longer if your credit is in greater need of repair. Dispute any inaccuracies by filing a dispute with the reporting agency.
  2. Pay bills on time making at least the minimum payment when due. Pay it off in full each month whenever possible. You can use your calendar to set notifications.
  3. Eliminate credit card balances when possible, but if not possible, keep your balance down to 30% of the approved credit amount. It may help to achieve this by asking for an increase of your credit limit.
  4. Conventional loans will need to consider the recent activity (within the last 12 to 24 months) on at least three different lines of credit. Consider opening another Visa or Mastercard account….ONLY if you need to show more credit lines but NEVER within six months of applying for a mortgage, which will temporarily lower your credit score.
  5. Leave old debt on your report. You may feel the need to clean up your credit report by closing old accounts, but this is a mistake. The zero balances are a positive reflection and can add positive points to your score. Keep it an active tradeline account by using the card periodically but paying the balance in full.
  6. Another common mistake is the purchase of big items when you are preparing to purchase. If new charges inadvertently change your credit score or by purchasing you have reduced your liquid asset balances, it may create issues in lending especially if done while in escrow. This is a big No-No.

If you have any questions about buying or selling a home in San Luis Obispo County, please contact us or one of our expert real estate professionals.

and our Morro Bay Affiliate & second location

Morro Bay Real Estate Partner

San Luis Obispo Realty
805-544-9161
info@san-luis-obispo-realty.com
441 Marsh Street
San Luis Obispo, CA 93401

CA BRE# 00577121

 

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