Southern California Real Estate Video Blog with Scott Himelstein

How Can You Know if You Have a Good Offer in Hand?

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.

When selling your home, you need to be savvy about the offers you receive. Knowing what a good offer looks like will go a long way in helping you make a profitable sale. Here are 3 tips on how to do just that:

Look at the purchase price: Buyers will often try to submit a lowball offer. It's important that you don't get offended or emotionally involved. At the end of the day, it's just a business decision made by the buyer, who is trying to see how you will react. Many times, especially in multiple offer situations, the offer that is accepted was originally the lowest - the buyer usually comes up near the original list price because they really want the home. In short, always submit a counteroffer because you never know what the buyer is willing to do unless you try.

Make sure the buyer is pre-approved: If the buyer is just buying in cash, make sure you get a proof of funds. On the other hand, if they require financing, we recommend that they get pre-approved with our lender so there are no surprises. If they own another house, their debt ratio is too high, their Fico score is not high enough, or they had a distressed home sale, they will not be able to purchase your home. To save you time and stress, we require buyers to get pre-approved with us free of charge and obligations.

Take a look at the FICO score: This will give you a good idea of where the buyer stands and gives you an inside look of what their debt ratio will really be. Again, it's just another way to make sure you're negotiating with someone who can actually afford to purchase your home.

If you follow these 3 procedures, you should be able to determine whether you have a good offer in hand. If you would like help with the process or have any questions about the Porter Ranch area market, don't hesitate to give us a call. We would be pleased to give you a hand.

When is the Best Time of Year to Sell Your Home?

We get asked all the time whether now is a good time to buy or sell. While most people think the spring and summer are the best times to sell, the numbers suggest the later months are a pretty great time to sell. Many homeowners take their home off the market because they think they'll get a better price come spring. With more sellers sitting on the sidelines, those who decide to go ahead and sell in the fall benefit from a lack of competition.

Homes sold in January often sell for a lot higher and with multiple offers because there is less for buyers to choose from. Interest rates are still quite low, hovering just above 4%, so buyer demand is still quite high. When looking at the numbers for last December in San Fernando Valley, we noticed more listings closed escrow than were on the market. We saw a similar trend in January and February of this year, before things started to change when March came around.

The months of December, January, and early February are perfect for maximizing your home's value. Competition is low and buyers are serious, giving you an upper hand in negotiations. If you want to take advantage of these favorable conditions, don't hesitate to reach out to us. We would love to assist you in any way possible.

Does it Make Sense to Invest in Solar?

Many of our clients ask us whether solar panels are worth the investment. It really depends - there are a few things to consider if you are thinking about investing in solar technology for your home:

Buying: If you buy solar panels for your home, it's going to take a long time before you see a return on your investment. If you plan on moving within the next 10 years, you're not going to save any money on your electricity bill. You have to live in your home a long time before the $200 dollars a month you save will pay off the panels.

Leasing: Leasing the panels can create many problems when you try to sell your home because the buyer will have to qualify for the lease payment. The buyer loses some of their purchasing power because it will have to be factored into their loan approval.

If you're looking to get solar panels simply to make an environmentally friendly decision, there's no reason not to. However, if you're trying to save money on your electric bill, it will take a very long time before you'll see a return on your investment.

If you have any further questions about solar, or simply have a general real estate question, please give us a call. We look forward to hearing from you soon!