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!
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!
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.
"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
