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?

Buying a San Fernando Valley home? Get a full home search   
Selling your San Fernando Valley home?  Free Home Price Evaluation

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

Buying a San Fernando Valley home? Get a full home search   
Selling your San Fernando Valley home?  Free Home Price Evaluation

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!

Why Should You Visit Alaska?

Buying a San Fernando Valley  home? Get a full home search,   
Selling your San Fernando Valley home?  Free Home Price Evaluation

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!

What Types of Improvements Add Value to Your Porter Ranch Home?

Buying a San Fernando Valley  home? Get a full home search,   
Selling your San Fernando Valley home?  Free Home Price Evaluation

Now is a great time to sell a home in Porter Ranch. Before you put your home on the market, it's important to have it looking nice and in the best condition possible. Some people believe that making expensive repairs and remodels will net them a lot more money when they go to sell their home. However, this is not the case, and making a lot of inexpensive repairs can actually save you more money.

We're in a seller's market, so even small improvements like improving the carpet, repainting, cleaning, decluttering, and doing some landscaping work can net you a few extra dollars when you go to sell. We have a shortage of inventory right now, so buyers are looking for homes that are in good condition and priced well. There is no need to do a massive remodel, because most of the time that will not net you a lot of extra money when you sell. 

If you're unsure of what to do to your home before you sell it, please don't hesitate to contact us. We don't want you to do a large remodel and then not see any return on the investment. Sometimes what you like in a renovation is not the same as what the buyer likes.

So, if you have any questions about what repairs you might want to make before you sell, please don't hesitate to reach out to me. I'm always here to help!

How Can You Make the Most of Your Home Sale?

Buying a San Fernando Valley  home? Get a full home search,  
Selling your San Fernando Valley home?  Free Home Price Evaluation

 The spring selling season is just around the corner, so today we thought we should share some tips to help you select the right agent. We know you're busy, so we'll jump right into the 5 questions to ask a listing agent before hiring them! 

1. How many of your pending contracts close escrow? This is an intricate question that really illustrates how real estate is no longer a one-person job. When you have multiple people on your team who do tasks effectively, it greatly minimizes the hassle of a transaction. You want your listing agent to close higher than 95% of their contracts, as the national average is 96%. Anything less than that and you can almost guarantee a bumpy transaction.
2. What is your list-to-sale ratio? This is supremely important when selling a home. The national average is 92%, but here at the Scott Himelstein Group, we had an average of 98.6% in 2014! As you can see, we tend to get more money for our sellers than the average agent.
3. How will you attract buyers to my property? The agent must have a written, applicable marketing plan if you want your home to get the exposure it needs. Of crucial importance is an internet marketing plan, as 94% of buyers search for homes online. At the end of the day, a sign in the yard and an entry in the MLS is not going to help you have a successful home sale.
4. Do you assist in staging a property? For properties that are vacant, especially of larger size, we always recommend putting some furniture in the home and positioning it in such a way that really looks spectacular in photos online and in person. We work with multiple staging companies in order to get our sellers top dollar.
5. How many homes have you sold in the past 6 months? The answer to this question really tracks the agent's record of success. If you're a buyer, the high number tells you that the agent may have access to homes that are not on the MLS, and vice versa for sellers. Last year, we sold 11 homes before we even put them on the market, due to our large buyer database. 

 

As you can see, you need to be thorough when interviewing an agent to sell your home. By asking these questions, you will get a good idea of how capable an agent is, and whether they are the one to help get you top dollar for your home. 

If you have any questions about the selling process, or if you would like to interview us, give us a call or shoot us an email. We would love to show you what we have to offer!

The Secret to Making Smart Investments

Buying a San Fernando Valley  home? Get a full home search, 

Selling your San Fernando Valley home?  Free Home Price Evaluation

 
Today we have some advice for those of you interested in buying real estate as an investment. It's a perfect time to make the market work for you, but we want to share 3 things to know before financing an investment property so you can make the most of it! 

1. Have a sizable down payment: You don't need to come into an investment property with cash only, but private mortgage insurance won't cover investment properties. Because of this, you'll need to have at least 20% to put down for financing. If you can amass 25%, you may be able to qualify for a better interest rate. 
2. It helps to be a strong borrower: There are a lot of factors that go into this - such as loan-to-value ratio and other policies of the lender you're dealing with that could affect your ability to take out a loan. Typically, when you're buying an investment property, any score below 740 can start to cost you money at the same interest rate. If you own other investment properties, the bank will want to make sure you don't have any vacancies to ensure you're not dead in the water. 
3. Avoid the big banks: If your down payment isn't quite as big as it should be, or if you have other extenuating circumstances, you should go to someone who is a direct lender, who has their own money and programs. This will give you more flexibility because they have access to a wide range of loan products and can find programs for you that would not be available from the big banks.

If you're looking to finance an investment property, we highly recommend taking a look at the above tips to inform your decision making. If you would like help with the process, or if you have any real estate questions of any kind, don't hesitate to give us a call or shoot us an email. We would love to hear from you!

How Can You Choose the Right Lending Company?

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 818-396-3311 for a FREE home buying or selling consultation to answer any of your real estate questions

Once again, we have Brandon Moss of PrimeLending joining us to discuss important topics from the lending world. Today, he shares the top 3 things to consider when choosing a mortgage company. 

1. Use a direct lender: You want the mortgage company you work with to be a direct lender because they're the ones who lend their own money. They make their own decisions and have total control over the loan process, unlike a mortgage broker who is just a middleman. PrimeLending is a direct lender - we underwrite, process, and fund all our loans here under one roof. It gives us better control, better closing turn times, and better customer service. 
2. Use a lender who's familiar with local neighborhoods: You want to work with a lender who is familiar with the local marketplace and who has appraisers who are familiar with the local marketplace. Don't use someone from outside of town - rather, you want to hire someone who understands the real estate conditions of the area. You also want to ensure your lender has national expertise, who knows what's happening at the national level, but focuses on the local level.   
3. Use a company that can perform on time: It's important to find a mortgage company that has a close-on-time guarantee. Work with someone that you know can close your escrow on time, as missing deadlines can be very costly, and may even cost you the home you want. Find a team that will give you that commitment in writing, so you have recourse if they aren't able to get the job done. 

We hope you find these tips helpful. If you have any questions for Brandon, you can call him at (818) 256-4330 or email him at BMoss@PrimeLending.com. Of course, if you have any questions regarding real estate, the Himelstein Group is always available to be your real estate resource! 

We hope to hear from you soon!

What Do New Loan Programs Mean for You?

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 818-396-3311 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we are joined by special guest Brandon Moss of PrimeLending, our preferred lender here at the Himelstein Group. He'll share some insider information about the many changes in loan programs available in 2015 and what they mean for you!

Gas prices aren't the only thing that have dropped in the last few months, as interest rates continue their downward trend. They're currently at all-time lows, with 30-year fixed mortgages well under 4% without points or fees. It's a perfect to time to buy or refinance to lower your monthly payments, as affordability is at an all-time high.  As we get into the spring and summer, we're expecting rates to rise, so you need to act soon if you want in on the low cost of borrowing.

This year, 3% down conventional loans are going to open many avenues for different buyers. Basically, it's replacing the more expensive FHA purchase loan. It's a great time for first-time buyers to get a loan without having to put much down, while taking advantage of fantastic interest rates. Buyers who are looking into condos and town homes now have another option, as FHA approvals are beginning to expire. This 3% down option is a great alternative!

For wealthier buyers, there are great deals out there as well. Right now, you can get a jumbo loan for up to $1.5 million for only 10% down! This program is perfect for those who have just recently got a job as a lawyer or a doctor, or anyone who has recently been employed at a high-paying job, but who doesn't yet have the liquid funds to put down.

If you're interested in taking advantage of these incredible conditions, you can reach Brandon by calling him at (818) 256-4330 or emailing him at BMoss@PrimeLending.com (NMLS# 61175). As always, if you have any questions, or need real estate assistance of any kind, we would love to hear from you!

Are You Prepared for Escrow?

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 818-720-9922 for a FREE home buying or selling consultation to answer any of your real estate questions.

Just because you've made it to escrow doesn't mean the deal is done. Many people are unaware of the handful of things that could go wrong during this stage. Today, we're here to share how to avoid them.

So, you have a fully executed contract and have opened up escrow - now what? Lately, we've seen an increasing number of homes fall out of escrow once a deal has been accepted, which is a frustrating experience for the buyer and seller alike. 

This can happen for several reasons - the dollar value of the transaction, physical inspections, buyer's nerves, and loan issues are just a few examples. We typically tell our seller clients that they need to treat everyone like they're a customer. Even if a buyer throws a really lowball offer at you, it's important to remain respectful because the buyer will often come up in price.

There are two BIG issues that may keep the sale from going through once you've reached escrow: the home inspection and the loan. Something usually comes up during the inspection, and as a seller, you need to realize it's understandable for a buyer to have a problem with a defect and be prepared to renegotiate if necessary. As a buyer, you need to realize that no house is perfect and that the house you're living in now probably has defects of its own. 

Whether you're buying or selling, keep in mind that it's not uncommon for there to be bumps in the road during escrow. When they inevitably come up, think them through, don't make a quick judgement, and keep the bigger picture in mind. Take a deep breath, a step back, and make a smart decision for everyone involved.

Here at the Scott Himelstein Group, we're really good at coaching our clients through situations like this, as well as negotiating through these mitigating circumstances so escrow closes with as few complexities as possible.

If you have any questions about the process, or would like real estate assistance of any kind, don't hesitate to give us a call or shoot us an email. We would love to hear from you! 

Thanks, and have a great day! 

Three Reasons Why You Should Price Your Home Accurately!

There are many great San Fernando Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (818) 993-1300 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I wanted to talk to you about sellers pricing their property right from the beginning. This is critical for a multitude of reasons especially today when buyers have so many resources at their disposal. Buyers can simply go online and have all the tools to be able to see what your house is really worth. Buyers already know from the beginning what your house is worth because remember, at the end of the day, the house is only worth what the buyer thinks its worth. As a seller, you can either agree or disagree with the buyer.

If you price your home right, you will most often receive multiple offers. This is especially important right now in a market with low inventory. Buyers right now are being priced out of properties and they will pay more than market value for properties if they are priced right. Also, if your home is in escrow and something happens where it falls out of escrow, your correctly priced home will have backup offers so you can avoid putting your home back on the market and waiting 35-40 days for an offer to come across the table.

In multiple offer situations, the seller also has more leverage when it comes to negotiating whether it is the physical inspection or enforcing loan contingencies. Lastly, you will find that you will end up netting more money when the home is priced correctly at the current market value. This helps you enter multiple offer scenarios and selling over asking price.

Thank you for visiting my video blog! If you are a buyer, check out our free MLS property search and if you are interested in selling, check out our free home value report. Please call me at (818) 720-9922 or email me at Scott@ScottWorks4u.com. Have a great day!