How Did I Help this Family Navigate a Tricky Escrow Process?

"Matthew and Jessica had been renting a home for nearly seven years. They already had two kids, but with two more on the way they needed a little bit more space to stretch out. They were keeping a close eye on the market because it moves very quickly, and they were happy that I could show them homes so quickly.

They had some trouble with the inspection and some unforeseen damages, but I managed to clear up the issues and get them into their brand new home. If they were working with anybody else, I'm not sure they'd be able to sit in their brand new kitchen right now!" - Scott

How Does the Interest Rate Hike Affect Porter Ranch?

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You may have heard the Fed met this month and increased interest rates for the first time in almost a decade. The real estate industry has been talking about this meeting for a long time. However, the interest rate hike doesn’t affect mortgage rates instantly. The market expected this, and it was already built into mortgage rates. Rates still remain around 4% to 4.25% for a 30-year fixed mortgage.

Now, we have a new question to consider. How often, if at all, will the Fed increase rates in 2016? This might be the only hike we experience, or it could be one of many. We can’t predict what will happen. However, I am confident we will see low rates heading into the new year.

Further increases are likely to be gradual. Prospective buyers and sellers have some time before these higher rates set in. However, a slight increase of interest rates can make a big difference on your home loan.

For example, maybe you have a home worth $300,000 with a 3.9% interest rate on a 30-year fixed mortgage. Your total interest payment would be $212,500. That number shifts to $231,295 with a 4.25%. That’s a significant price difference of nearly $20,000!

There are a few things to keep in mind. We have a whole generation of first-time home buyers that have never experienced the meaningful rate increase. It’s new and unfamiliar territory to all of them. Even with a slight increase in rates, now is still a great time to buy. Don’t purchase more than you can afford, as always. It’s likewise an opportune time to sell.

If you’re looking to buy or sell a home next year, get a head start today. Reach out to me by phone or email! I’d be happy to help answer any questions and serve your real estate needs.

These Repeat Customers Walked Away Smiling

"Brent has been an acquaintance and client of mine for many years. I've sold a few different homes for him and his family. With this particular home, Brent didn't know if he wanted to sell it or rent it out. After some deliberation, I finally helped the family reach a conclusion to sell the home. We decided this was right for his family.

We hosted an open house and had multiple offers by the end of the event. They were very pleased with the marketing I used to draw in qualified buyers. I was very happy to help Brent sell again!" - Scott

Don't Forget About Your Online Curb Appeal

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What is online curb appeal? Well, it's the same as old school curb appeal, but it involves marketing your home online. Nearly 97% of buyers look at homes online before they view them in person, so having a strong digital presence is important.

It all starts with your photography. It needs to be professional if you want to stand out. We have a professional photographer on our team, and the difference is amazing. It's so simple, yet so important for your online curb appeal.

When people peruse the listings online, they have to be captivated by your photos.

Depending on the location of your property, we can also use a drone to shoot footage of your home. This will definitely make your home stand out among others on the MLS.

However, this is only the tip of the iceberg when it comes to marketing your property online. The Internet is where most of the action takes place when you sell your home, so you have to invest in an agent that will market your home effectively online.

If you have any questions, please don't hesitate to contact me!

My Team Handles the Details So You Don't Have To

"This particular client of mine enjoyed a smooth and stress-free transaction. I sold his old home and moved him into a new house, and the transaction was expertly facilitated. There were a lot of moving parts involved, but this buyer never felt the pressure because my team took care of all the little details for him.

I kept in close contact with this buyer, and I did this to the point where he began wondering if he was my only client. We took very good care of him, and he walked away a very happy buyer." - Scott

Avoid El Niño Damage

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Meteorologists predict El Niño and heavy rainfall will approach Southern California this winter and spring. Today, we compiled some tips to prepare your home for the serious, upcoming weather!

• Fix leaks. Dry heat may have caused wooden structures to shrink and open up, which creates leaks. Call your roofer today to avoid any leaks during inclement weather. Often, leaks occur at metal connecting points, so rid your roof of debris.

• Clean your gutters and downspouts. Again, clear debris from this area. Do it again after the first rainfall of the season. Seal up holes.
• Invest in a generator. If your neighborhood is vulnerable to power outages, this could be a wise investment for your family.
• Paint the exterior wood trim of your home. Paint cracks can carry water directly into the wood. It could cause termite invasion, mold, or dry rot.
• Examine your window glazing compound. Pull away from the glass paint. Loose paint can allow rain to penetrate your windows. Don’t let rainwater into your home.
• Check your balcony and deck slopes. Water should flow away from walls and instead, directly into drainage systems. Water shouldn’t touch the structure of your home.

If you have any questions about this topic, or if you would like real estate assistance of any kind, don't hesitate to contact. We would love to help you out!

Patience, Understanding, and Knowledge Make a Difference

"This particular buyer in Porter Ranch was pleased at how quickly we responded to her calls, texts, and other inquiries about the progress of the home purchase. She admired our patience, understanding, and knowledge of the local real estate market here in Porter Ranch. 

She was very confident with our service, and cannot wait to recommend us to other home buyers in the area.

Thanks for choosing to work with our team!" - Scott

Why Has Your LA County Property Tax Bill Increased?

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Has your property tax bill increased? Do you know what you can do about it? Do you know why your property tax has gone up? Today, we'll answer those questions for you.

Fueled by an increase in home sales, the assessed value of all taxable property in Los Angeles County rose 6% this year. That's the largest jump since 2010 and that's what the county assessor reported last month.

Los Angeles County released a report on the 2015 assessment roll. Taxable properties were valued at a net total of 1.26 trillion dollars. That's a 73.1 billion dollar increase from the previous year. The tax roll is strong. Last year, every city in Los Angeles County experienced increased home sales compared to last year.

The assessment roll also reported on over 2.3 million taxable property parcels, 318 pieces of business equipment, 46,000 boats and 3,100 aircrafts. Each year, the county assessor must evaluate all residential and commercial properties. Taxes levied off 1% of the assessed value of the property. Under Proposition 13, the assessed value of a property can never increase more than 2% unless it's sold.

The majority of homeowners in LA County will see a 2% increase in the value of their homes. San Bernardino County will see an increase of 5% in home value, surpassing their previous high in 2008. In LA County, property sales were the biggest factor in the increases in the assessment roll, as we saw a 3% jump in home sales from 2014.

This report continues the steady upswing in property values that began in 2010. From 2007 to 2010, the assessment actually declined and homeowners saw a decrease in value. About 200,000 properties haven't fully recovered. These properties are mostly located in the northern part of the county, but there has been an increase in value in LA County.

If owners disagree with their new assessed value, they may file an appeal before November 30. We can assist with that. We don't charge anything. If anyone tries to charge you to file the appeal, you need to know that it is illegal to charge for that and report them. We will provide you with comparables to appeal your home value.

Go to the assessor's site to get the petition form. If you have any questions, give us a call or send us an email. We would be happy to help you!

The Value of Going Above and Beyond for Clients

"Recently, the Himelstein Group helped Ann and Carol move into a beautiful new home. Ann was not looking forward to find a new house; she has friends who have had really bad experiences buying and selling real estate. 

A big part of Ann and Carol's success was due to our expertise and knowledge of the industry. We helped begin the search, market their home, negotiate with other agents, and every other aspect of the process. Our ability to get things done smoothly went a long way toward put their minds at ease!

Ann believes that the respect we've earned from the community helped our dealings with escrow officers, loan offices, other agents, and lenders. Our relationships with those people went a long way in facilitating the process for her! 

We went above and beyond Ann and Carol's expectations by being helpful in more ways than they expected. Things like setting up a trustworthy loan officer and making sure they got a wonderful insurance plan really made the experience one to remember. 

Thanks to our contacts and industry expertise, Ann and Carol never had reason to question what we were doing. We created an environment of trust so that they never had to stop and wonder whether everything was going according to plan. An added bonus, they said, was my sense of humor and friendliness!

After our experience together, I'm happy to call Ann and Carol my friends. Should they move again in the future, we'll work together yet again!" - Scott

Have You Missed Your Chance to Sell Your Home?

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Several sellers wonder if they've missed their chance to sell their homes as we head into the winter months. Many people have asked me, "Is it a good time to sell in the fall?"

Actually, fall is a great time to sell. If you look at the numbers, you'll see that inventory in the fall is extremely low. In our last video, we talked about how inventory has dropped by almost 40% across the San Fernando Valley. Right now, listings are at a premium. We have more demand than supply due to historically low interest rates that continue to hover around 4%.

Even if you look at the statistics over the last few years, you'll see that more listings close escrow in November, December, and January than the number of listings on the market.

Because rates are so low, buyers don't want to lose out. If your home is priced right, fall is a very good time of year to sell. If you look at June, July, or August, when our 2015 inventory levels were at their highest, the buyers had a lot of choices. In the fall, with winter approaching, fewer homes are on the market which means sellers will be in a good situation because there is less competition. If you wait until March or April to list your home, then you need to prepare for a lot more competition.

Ultimately, if you want to sell your home, now is the time to do so. If you have any questions for me, give me a call or send me an email. I would be happy to help you!

Proof that Our Expertise and Hard Work Pay off for Our Clients

"Perry has lived in North Ridge for a little over 40 years. When he and his family got to the point where they wanted to sell their house, the only person who came to mind was me. 

They chose me because I have worked in the area for many years and have built relationships with people here. Perry liked that I'm an earnest, hardworking agent who doesn't put any unnecessary pressure on people. He also liked the fact that I was always available to answer his selling questions. 

The sale was a complete success. The first potential buyer I brought to the home ended up buying it! Not only that, but they bought it for more money than Perry was asking for! He couldn't be more excited, and would highly recommend that anyone looking to buy or sell a home work with our team!

If you're curious about how we can help you, don't hesitate to reach out to us!" - Scott

The San Fernando Valley Real Estate Market Is Going Strong

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Today, I'll give you a quick real estate market update for the San Fernando Valley. Fall is upon us, we're beginning the fourth quarter, and things are still going strong.

If you look all the way back to January 2015, there were 2,743 homes for sale. That number went up to almost 3,000 homes at the end of May, and by the end of August, we had almost 3,300 homes on the market. That's still a seller's market. As I've mentioned before, you need to have 7,500 homes for sale to have a neutral market.

Last month, the interest rates dipped and the inventory dropped to 2,279. Now, it is kind of a seasonal pattern for inventory to drop in September. However, since the interest rates dipped, a lot of buyers went out and purchased homes, which contributed to the homes on the market dropping from 3,300 to 2,279.

Right now, you're looking at a less than 3-month supply of inventory on the market. The average number of days on market is 66, and we're still seeing a lot of multiple offer situations. If you put your home on the market and price it correctly, you can still attract multiple offers to your property.

That is our market update. If you have any questions, give me a call or send me an email. I look forward to hearing from you!

We Met and Exceeded the Needs for this Buyer in Venice Beach

"From day one, this woman living in Venice Beach felt like she was never on her own in the transaction. She appreciated the way that we stuck by her side and took care of all of the little things for her. She says there is nobody better than our team, and we were very pleased to help her find a beautiful home in Venice Beach. 

Hopefully we can help you to find a good home as well!" - Scott

How Has the Drought Affected Southern California Real Estate?

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Both buyers and sellers are curious about how the drought has affected real estate here in Southern California. Surprisingly, this seemingly never-ending drought hasn't affected the market at all! Sales are still taking place and the market is moving.

However, buyers do like lush, green lawns, and that has been harder for sellers to make happen. While there is no denying the power of curb appeal, most buyers do understand that the drought has limited the ability of sellers to do anything with their yard. Water restrictions and other drought measures are just a fact of life for sellers and buyers in this market, so not much has changed as a result.

If you're hesitating to list your home because you're afraid your brown yard will scare away buyers, you do have options. For one, I highly recommend getting green spray paint for the lawn. It's non-flammable, non-toxic, lasts 12-16 weeks, and costs anywhere from $150- $250. This is a great option if you want to keep your lawn looking great, as watering your lawn for only 4-6 weeks would cost you about the same amount. This is a great option to save water and keep your yard looking great!

If you have any questions about how to get top dollar under current market conditions, or if you need real estate assistance of any kind, please don't hesitate to reach out to me. I would love to help you in any way that I can!

Sell Your Home for Top Dollar

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I'm in front of a property in Woodland Hills that we just closed escrow on, but I'd like to tell you a story about it first.

This same property was listed with another agent and it was on the market for 68 days before the seller decided to call my team. The seller was unhappy with the marketing efforts and the lack of communication from her local Realtor.

These are two things we do very well here at the Scott Himelstein Group. We keep you updated throughout every step of the process, and we value the transparency that our service provides. On top of this, we take a lot of pride in our marketing efforts. We work hard to put your home in front of thousands of buyers, both in the US and overseas.

This is why we were able to secure a cash offer within 30 days!

If you've had a difficult time selling your Porter Ranch home, then please don't hesitate to contact me team. We would be more than happy to help you get your home sold for top dollar!

What Should You Know about Earnest Money?

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Today we are talking about the top things buyers need to know about earnest money deposits. This is the money that is paid by buyers after mutual acceptance to prove they are serious about your offer. 

Typically in California, the earnest money deposit is 3% of the purchase price, but varies based on the purchase price as well as the financing. For example, with FHA or VA financing, the earnest money will be less than 3.5%.

Per the contract, the buyer has three days to get the earnest money to escrow. Most of our clients like to wire the money, but if you look at the purchase agreement, you will see you can send a personal check as well. 

The only time the buyer can get their earnest money back is during the contingency period. If it’s not an all-cash offer, the buyer has the opportunity to get their earnest money back with no penalty if there is a major issue with the home. 

Now, if the buyer cancels a few days before escrow just because they found another home they like better, the seller would be able to go after the buyer for their good faith deposit. Once the buyer removes their contingencies, that’s when the deposit becomes at risk. 

If you have any questions about earnest money deposits and how they work in your neighborhood, shoot us a quick email or give us a call. 

Our Team Has the Experience to Make Real Estate Easy for You

"Craig and Lindsay heard of the Himelstein Group through a good friend. They were in the market to sell a home and buy a new one and were beginning to get stressed out. To help take the stress off, we walked them through the process step by step to ensure their goals were met.

I was patient with their many questions and made myself easily accessible because they were new to the process. I helped turn what would have been a very stressful endeavor into a successful real estate experience. 

They haven't regretted taking advantage of my skill and expertise since we did such a good job for them! If you have questions about how we can help you with real estate, don't hesitate to reach out. We would love to hear from you!" - Scott

Why Should You Visit Alaska?

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I'm coming to you today from Humpy Cove in Resurrection Bay, which is just outside of Seward, AK.

Obviously one of the biggest reasons that anyone comes to Alaska is for the wilderness. Alaska is twice the size of the state of Texas, and much of it is untouched. Only 20% of the state is accessible by road, so you have a lot of untouched real estate.

Alaska also has over 100,000 glaciers, both large and small. Their majestic turquoise color is something that everyone should see, and there are even rivers and caves inside of these glaciers that you can explore.

Mount McKinley is another reason to come here. Standing at 20,320 ft., it is the tallest peak in all of North America. Alaska is actually home to 17 of the 20 tallest peaks in North America.

While not a lot of people live in Alaska, there are huge populations of wildlife that do. There are Grizzly bears, bald eagles, whales, moose and more. Occasionally you'll even see a Moose wandering through Anchorage!

Hopefully this was fun for you - and as always - please don't hesitate to contact us if you're trying to buy or sell real estate in Southern California!

Our Service Went Above and Beyond for These Sellers

"These sellers in Tarzana were happy with how honest I was when selling their home, and they appreciated the amount of exposure that I was able to get for their home. They were consistently surprised with the speed of our service, and their home sold fast and for the price that they were hoping for." 

3 Important Questions When Hiring a Home Inspector

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Today we'll be speaking about some very important questions that you need to be asking your home inspector when you have them come out and inspect your property, or your potential property. 

To help us with this, we have my preferred vendor: Keith Morgan of Property Inspection Consultants.

1. Look at their credentials. There is no such thing as a licensed home inspector in the state of California, so you want to look for the California Real Estate Inspection Association. This places credentials on inspectors after a rigorous exam. This is the same exam that home inspectors nationwide must take, and only 50% of people pass it.
2. Review their experience. Everybody has to start out somewhere, but you're better off picking a more experienced inspector. They will be more familiar with structures, as well as different builders in the area.
3. Pick an inspector that communicates well. Written reports are required in California, so you need to have someone who can communicate well in writing and in person. There are many things that you'll have to discuss with the inspector in order to determine if the house is desirable or not, so pick someone that you're comfortable with and able to communicate with.

If you need any more information about this subject, or if you require any other sort of real estate assistance in Porter Ranch, please don't hesitate to contact me!

Why Did Stephanie and Bob Choose Us?

Stephanie and Bob decided to sell their house in Porter Ranch to move to the East Coast to be with their family. The timing was right for them to move, but they wanted a god agent. They did some research and interviewed quite a few agents. 

"They picked our team because we communicated well with them, and they needed to sell pretty quickly. Most agents they interviewed were interested in marketing themselves, but Scott was all about us and how to make our move as smooth as possible. We were able to get them to close quickly and found some very good buyers for us."

Are You Ready for the New TRID Changes this October?

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There are going to be some big changes this year if you're looking to finance a home later this year. In order to discuss these changes, I've invited Brandon Moss with Prime Lending. 

The Consumer Finance Protection Board has instituted some changes that are going to change how buyers must go through the lending process. They have introduced a revamp of the disclosure process called the TILA-RESPA Integrated Disclosure. 

The Good Faith Estimate is being replaced by a form called the Loan Estimate, and the estimated HUD-1 Closing Settlement is being replaced by the Closer Disclosure. These forms are much more consumer-friendly, so it's a good thing for the consumer out there, but you need to be prepared ahead of time in order to reap the benefits.

There are some new rules and regulations at play, and one important one is that the new loan estimate must be issued three days after the initial application date. There is also a three day waiting period between when the closing disclosure is issued and the closing documents are drafted. In the past you could get a final approval on the loan the same day you applied, but now there is a three-day waiting period. 

This mean's that you'll need to take care of Homeowner's Association fees as well as insurance payments ahead of time in order to avoid delays in the closing process. 

If there are any interest rate changes or loan amount changes, your three day waiting period will start over, and this is why you need to be prepared up front.

If you have any questions regarding these new guidelines that will be affecting us on October 1st, 2015, please don't hesitate to contact me. I'd be happy to help you!

We Helped Calm this Couple's Nerves

Mahar and Tamar are in their brand new home right now thanks to our team! We met them at an open house for another property, and they had been looking for over a year to buy, but hadn't got the timing right. 

"After meeting Scott, I knew he would find us our place. Lo and behold, we were already in our place and closed escrow in 2 months! The communication throughout the entire process was great, and I highly recommend him to anybody that can use his help." 

We're Here for You - Even Down the Road

Matt lives in Porter Ranch and recently sold a home with us. He just closed escrow. He is moving out of state and has talked to us  for years about putting his home on the market, but now he was finally ready. 

"Its easy to get in touch with him, and everything has gone smooth. Scott negotiated for us and everything went really smooth. His team is a great one to work with," said Matt.

3 Things to Consider When Selling a Home with Contingencies

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A lot of buyers are out in Porter Ranch right now, and they're looking to purchase a home with contingencies. Today we are talking about the three most important things to remember when dealing with contingent offers. They are becoming more and more common here in California, so we want you to keep these three things in mind: 

1. Be flexible to the buyer's/seller's needs
Buying or selling a home is all about compromise, and being able to be flexible to each other's needs ensures a smooth and successful transaction.

2. You have to be committed to the process
You need to treat your home as a business decision, and be committed to selling for the long haul. Buyers don't want to buy from somebody who is not committed to selling, because they don't want the transaction to be slowed down by the owner.

3. Make sure you are prepared
You should have a good idea of what you want before the home comes on the market. This way when it does, you'll recognize it, and be ready to make an offer. 

If you have any questions for us, feel free to give us a call or send us an email. We look forward to hearing from you!