The Weidauer Group – The Leader in Real Estate
10 Questions to Ask Home Inspectors
Before you make your final buying or selling decision, you should have the home inspected by a professional. An inspection can alert you to potential problems with a property and allow you to make an informed decision. Ask these questions to prospective home inspectors:
1. Will your inspection meet recognized standards? Ask whether the inspection and the inspection report will meet all state requirements and comply with a well-recognized standard of practice and code of ethics, such as the one adopted by the American Society of Home Inspectors or the National Association of Home Inspectors. Customers can view each group’s standards of practice and code of ethics online at www.ashi.org or www.nahi.org. ASHI’s Web site also provides a database of state regulations.
2. Do you belong to a professional home inspector association? There are many state and national associations for home inspectors, including the two groups mentioned in No. 1. Unfortunately, some groups confer questionable credentials or certifications in return for nothing more than a fee. Insist on members of reputable, nonprofit trade organizations; request to see a membership ID.
3. How experienced are you? Ask how long inspectors have been in the profession and how many inspections they’ve completed. They should provide customer referrals on request. New inspectors also may be highly qualified, but they should describe their training and let you know whether they plan to work with a more experienced partner.
4. How do you keep your expertise up to date? Inspectors’ commitment to continuing education is a good measure of their professionalism and service. Advanced knowledge is especially important in cases in which a home is older or includes unique elements requiring additional or updated training.
5. Do you focus on residential inspection? Make sure the inspector has training and experience in the unique discipline of home inspection, which is very different from inspecting commercial buildings or a construction site. If your customers are buying a unique property, such as a historic home, they may want to ask whether the inspector has experience with that type of property in particular.
6. Will you offer to do repairs or improvements? Some state laws and trade associations allow the inspector to provide repair work on problems uncovered during the inspection. However, other states and associations forbid it as a conflict of interest. Contact your local ASHI chapter to learn about the rules in your state.
7. How long will the inspection take? On average, an inspector working alone inspects a typical single-family house in two to three hours; anything significantly less may not be thorough. If your customers are purchasing an especially large property, they may want to ask whether additional inspectors will be brought in.
8. What’s the cost? Costs can vary dramatically, depending on your region, the size and age of the house, and the scope of services. The national average for single-family homes is about $320, but customers with large homes can expect to pay more. Customers should be wary of deals that seem too good to be true.
9. What type of inspection report do you provide? Ask to see samples to determine whether you will understand the inspector's reporting style. Also, most inspectors provide their full report within 24 hours of the inspection.
10. Will I be able to attend the inspection? The answer should be yes. A home inspection is a valuable educational opportunity for the buyer. An inspector's refusal to let the buyer attend should raise a red flag.
Source: Rob Paterkiewicz, executive director, American Society of Home Inspectors, Des Plaines, Ill.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Wednesday, December 22, 2010
Saturday, December 18, 2010
Pros and Cons of Going Condo
The Weidauer Group – The Leader in Real Estate
Pros and Cons of Going Condo
Condominiums and townhouses offer an affordable option to single-family homes in many markets, and they’re ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork. These are some of the important elements to consider:
• Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings.
• Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you.
• Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.
• Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home — good news if you like to travel.
• Security. Keyed entries and even doormen are common in many condos. You’re also closer to other people in case of an emergency.
• Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.
• Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar.
• Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.
• Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Pros and Cons of Going Condo
Condominiums and townhouses offer an affordable option to single-family homes in many markets, and they’re ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork. These are some of the important elements to consider:
• Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings.
• Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, this may be the perfect option for you.
• Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.
• Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home — good news if you like to travel.
• Security. Keyed entries and even doormen are common in many condos. You’re also closer to other people in case of an emergency.
• Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees decided by the condo board, whether or not you’re interested in the amenity.
• Resale. The ease of selling your unit may be dependent on what else is for sale in your building, since units are usually fairly similar.
• Condo rules. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets, or don’t allow owners to rent out their units. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.
• Neighbors. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Friday, December 17, 2010
Tips for Buying in a Tight Market
The Weidauer Group – The Leader in Real Estate
Tips for Buying in a Tight Market
Increase your chances of getting your dream house in a competitive housing market, and lower your chances of losing out to another buyer.
1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.
2. Stay in close contact with your real estate agent to find out about the newest listings. Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.
3. Scout out new listings yourself. Look at Web sites such as REALTOR.com, browse your local newspaper’s real estate section, and drive through the neighborhood to spot For Sale signs. If you see a home you like, write down the address and the name of the listing agent. Your real estate agent will schedule a showing.
4. Be ready to make a decision. Spend a lot of time in advance deciding what you must have in a home so you won’t be unsure when you have the chance to make an offer.
5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don’t go too low to get a deal. In a tight market, you’ll lose out.
6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.
7. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy it. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tips for Buying in a Tight Market
Increase your chances of getting your dream house in a competitive housing market, and lower your chances of losing out to another buyer.
1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.
2. Stay in close contact with your real estate agent to find out about the newest listings. Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.
3. Scout out new listings yourself. Look at Web sites such as REALTOR.com, browse your local newspaper’s real estate section, and drive through the neighborhood to spot For Sale signs. If you see a home you like, write down the address and the name of the listing agent. Your real estate agent will schedule a showing.
4. Be ready to make a decision. Spend a lot of time in advance deciding what you must have in a home so you won’t be unsure when you have the chance to make an offer.
5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don’t go too low to get a deal. In a tight market, you’ll lose out.
6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.
7. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy it. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Thursday, December 16, 2010
Owners Recoup More with Exterior Home Projects
The Weidauer Group – The Leader in Real Estate
Owners Recoup More with Exterior Home Projects
As part of the 2010-11 Remodeling Cost vs. Value Report, Realtors® recently rated exterior replacement projects among the most cost-effective home improvement projects, demonstrating that curb appeal remains one of the most important aspects of a home at resale time.
“This year’s Remodeling Cost vs. Value Report highlights the importance of exterior projects, which not only provide the most value, but also are among the least expensive improvements for a home,” said National Association of Realtors® President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “Since resale value can vary by region, it’s smart for home owners to work with aRealtor®through the remodeling and improvement process; they can provide insight into projects in their neighborhoods that will recoup the most when the owners are ready to sell.”
Nine of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects. The steel entry door replacement remained the project that returned the most money, with an estimated 102.1 percent of cost recouped upon resale; it is also the only project in this year’s report that is expected to return more than the cost. The midrange garage door replacement, a new addition to the report this year, is expected to recoup 83.9 percent of costs. Both projects are small investments that cost little more than $1,200 each, on average. Realtors®identified these two replacements as projects that can significantly improve a home’s curb appeal.
“Curb appeal remains king – it’s the first thing potential buyers notice when looking for a home, and it also demonstrates pride of ownership,” said Phipps.
The 2010-11 Remodeling Cost vs. Value Report compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 13th consecutive year that the report, which is produced byRemodeling magazine publisher Hanley Wood, LLC, was completed in cooperation with REALTOR®Magazine.
Realtors® provided their insight into local markets and buyer home preferences within those markets. Overall, Realtors® estimated that home owners would recoup an average of 60 percent of their investment in 35 different improvement projects, down from an average of 63.8 percent last year. Remodeling projects, particularly higher cost upscale projects, have been losing resale value in recent years because of weak economic conditions.
According to the report, replacement projects usually outperform remodel and addition projects in resale value because they are among the least expensive and contribute to curb appeal. Various types of siding and window replacement projects were expected to return more than 70 percent of costs. Upscale fiber-cement siding replacement was judged by Realtors® the most cost effective among siding projects, recouping 80 percent of costs. Among the window replacement projects covered, upscale vinyl window replacements were expected to recoup the most, 72.6 percent upon resale. Another exterior project, a wood deck addition, tied with a minor kitchen remodel for the fourth most profitable project recouping an estimated 72.8 percent of costs.
The top interior projects for resale value included an attic bedroom and a basement remodel. Both add living space without extending the footprint of the house. An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent nationally upon resale; a basement remodel costs more than $64,000 and recoups an estimated 70 percent. Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.
Although most regions followed the national trends, the regions that consistently were estimated to return a higher percentage of remodeling costs upon resale were the Pacific region of Alaska, California, Hawaii, Oregon and Washington; the West South Central region of Arkansas, Louisiana, Oklahoma, and Texas; the East South Central region of Alabama, Kentucky, Mississippi and Tennessee; and the South Atlantic region of the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and West Virginia.
The regions where Realtors® generally reported the lowest percentage of costs recouped were New England (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont), East North Central (Illinois, Indiana, Michigan, Ohio and Wisconsin), West North Central (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota), and Middle Atlantic (New York and Pennsylvania).
“It’s important to remember that the resale value of a particular improvement project depends on several factors,” said Phipps. “Things such as the home’s overall condition, availability and condition of surrounding properties, location and the regional economic climate contribute to an estimated resale value. That’s why it is imperative to work with a Realtor®who can provide insight and guidance into local market conditions whether you’re buying, selling or improving a home.”
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Owners Recoup More with Exterior Home Projects
As part of the 2010-11 Remodeling Cost vs. Value Report, Realtors® recently rated exterior replacement projects among the most cost-effective home improvement projects, demonstrating that curb appeal remains one of the most important aspects of a home at resale time.
“This year’s Remodeling Cost vs. Value Report highlights the importance of exterior projects, which not only provide the most value, but also are among the least expensive improvements for a home,” said National Association of Realtors® President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “Since resale value can vary by region, it’s smart for home owners to work with aRealtor®through the remodeling and improvement process; they can provide insight into projects in their neighborhoods that will recoup the most when the owners are ready to sell.”
Nine of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects. The steel entry door replacement remained the project that returned the most money, with an estimated 102.1 percent of cost recouped upon resale; it is also the only project in this year’s report that is expected to return more than the cost. The midrange garage door replacement, a new addition to the report this year, is expected to recoup 83.9 percent of costs. Both projects are small investments that cost little more than $1,200 each, on average. Realtors®identified these two replacements as projects that can significantly improve a home’s curb appeal.
“Curb appeal remains king – it’s the first thing potential buyers notice when looking for a home, and it also demonstrates pride of ownership,” said Phipps.
The 2010-11 Remodeling Cost vs. Value Report compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 13th consecutive year that the report, which is produced byRemodeling magazine publisher Hanley Wood, LLC, was completed in cooperation with REALTOR®Magazine.
Realtors® provided their insight into local markets and buyer home preferences within those markets. Overall, Realtors® estimated that home owners would recoup an average of 60 percent of their investment in 35 different improvement projects, down from an average of 63.8 percent last year. Remodeling projects, particularly higher cost upscale projects, have been losing resale value in recent years because of weak economic conditions.
According to the report, replacement projects usually outperform remodel and addition projects in resale value because they are among the least expensive and contribute to curb appeal. Various types of siding and window replacement projects were expected to return more than 70 percent of costs. Upscale fiber-cement siding replacement was judged by Realtors® the most cost effective among siding projects, recouping 80 percent of costs. Among the window replacement projects covered, upscale vinyl window replacements were expected to recoup the most, 72.6 percent upon resale. Another exterior project, a wood deck addition, tied with a minor kitchen remodel for the fourth most profitable project recouping an estimated 72.8 percent of costs.
The top interior projects for resale value included an attic bedroom and a basement remodel. Both add living space without extending the footprint of the house. An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent nationally upon resale; a basement remodel costs more than $64,000 and recoups an estimated 70 percent. Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.
Although most regions followed the national trends, the regions that consistently were estimated to return a higher percentage of remodeling costs upon resale were the Pacific region of Alaska, California, Hawaii, Oregon and Washington; the West South Central region of Arkansas, Louisiana, Oklahoma, and Texas; the East South Central region of Alabama, Kentucky, Mississippi and Tennessee; and the South Atlantic region of the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and West Virginia.
The regions where Realtors® generally reported the lowest percentage of costs recouped were New England (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont), East North Central (Illinois, Indiana, Michigan, Ohio and Wisconsin), West North Central (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota), and Middle Atlantic (New York and Pennsylvania).
“It’s important to remember that the resale value of a particular improvement project depends on several factors,” said Phipps. “Things such as the home’s overall condition, availability and condition of surrounding properties, location and the regional economic climate contribute to an estimated resale value. That’s why it is imperative to work with a Realtor®who can provide insight and guidance into local market conditions whether you’re buying, selling or improving a home.”
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tips for Finding the Perfect Neighborhood
The Weidauer Group – The Leader in Real Estate
Tips for Finding the Perfect Neighborhood
Your neighborhood has a big impact on your lifestyle. Follow these steps to find the perfect community to call home.
• Is it close to your favorite spots? Make a list of the activities — movies, health club, church, etc. — you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engage in your most common activities.
• Check out the school district. This is especially important if you have children, but it also can affect resale value. The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, visit schools in the neighborhoods you’re considering. Also, check out www.schoolmatters.com.
• Find out if the neighborhood is safe. Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type — such as burglaries or armed robberies — and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?
• Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don’t necessarily diminish value, but do mean a more transient population. Do you see vacant businesses or homes that have been for sale for months?
• See if you’ll make money. Ask a local REALTOR® or call the local REALTOR® association to get information about price appreciation in the neighborhood. Although past performance is no guarantee of future results, this information may give you a sense of how good of an investment your home will be. A REALTOR® or the government planning agency also may be able to tell you about planned developments or other changes in the neighborhood — like a new school or highway — that might affect value.
• Make personal observations. Once you’ve narrowed your focus to two or three neighborhoods, go there and walk around. Are homes tidy and well maintained? Are streets quiet? How does it feel? Pick a warm day if you can and chat with people working or playing outside.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tips for Finding the Perfect Neighborhood
Your neighborhood has a big impact on your lifestyle. Follow these steps to find the perfect community to call home.
• Is it close to your favorite spots? Make a list of the activities — movies, health club, church, etc. — you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engage in your most common activities.
• Check out the school district. This is especially important if you have children, but it also can affect resale value. The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, visit schools in the neighborhoods you’re considering. Also, check out www.schoolmatters.com.
• Find out if the neighborhood is safe. Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type — such as burglaries or armed robberies — and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?
• Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don’t necessarily diminish value, but do mean a more transient population. Do you see vacant businesses or homes that have been for sale for months?
• See if you’ll make money. Ask a local REALTOR® or call the local REALTOR® association to get information about price appreciation in the neighborhood. Although past performance is no guarantee of future results, this information may give you a sense of how good of an investment your home will be. A REALTOR® or the government planning agency also may be able to tell you about planned developments or other changes in the neighborhood — like a new school or highway — that might affect value.
• Make personal observations. Once you’ve narrowed your focus to two or three neighborhoods, go there and walk around. Are homes tidy and well maintained? Are streets quiet? How does it feel? Pick a warm day if you can and chat with people working or playing outside.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Saturday, December 11, 2010
10 Questions to Ask the Condo Board
The Weidauer Group – The Leader in Real Estate
10 Questions to Ask the Condo Board
Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive — and organized — its members are. You’ll also be alerted to potential problems with the property.
1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.
2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.
3. How much does the association keep in reserve? Plus, find out how that money is being invested.
4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.
5. What does and doesn’t the assessment cover? Does the assessment include common-area maintenance, recreational facilities, trash collection, and snow removal?
6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.
7. How much turnover occurs in the building? This will tell you if residents are generally happy with the building. According to research by the NATIONAL ASSOCIATION OF REALTORS®, owners of condos in two-to-four unit buildings stay for a median of five years, and owners of condos in a building with five or more units stay for a median of four years.
8. Is the condo building in litigation? This is never a good sign. If the builders or home owners are involved in a lawsuit, reserves can be depleted quickly.
9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.
10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
10 Questions to Ask the Condo Board
Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive — and organized — its members are. You’ll also be alerted to potential problems with the property.
1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.
2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.
3. How much does the association keep in reserve? Plus, find out how that money is being invested.
4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.
5. What does and doesn’t the assessment cover? Does the assessment include common-area maintenance, recreational facilities, trash collection, and snow removal?
6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.
7. How much turnover occurs in the building? This will tell you if residents are generally happy with the building. According to research by the NATIONAL ASSOCIATION OF REALTORS®, owners of condos in two-to-four unit buildings stay for a median of five years, and owners of condos in a building with five or more units stay for a median of four years.
8. Is the condo building in litigation? This is never a good sign. If the builders or home owners are involved in a lawsuit, reserves can be depleted quickly.
9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.
10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tuesday, December 7, 2010
8 Tips to Guide for Your Home Search
The Weidauer Group – The Leader in Real Estate
8 Tips to Guide for Your Home Search
1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.
4. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.
5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.
7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.
8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
8 Tips to Guide for Your Home Search
1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.
4. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.
5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.
7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.
8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
How High Tech is Your Home?
The Weidauer Group – The Leader in Real Estate
How High Tech is Your Home?
If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist.
1. Are there enough jacks in every room for cable TV and high-speed Internet hookups?
2. Are there ample telephone extensions or jacks?
3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?
4. Does the home have a local area network (LAN) for linking computers?
5. Does the home already have wiring for DSL or another high-speed Internet connection?
6. Does the home have multizoning heating and cooling controls with programmable thermostats?
7. Does the home have multiroom lighting controls, window-covering controls, or other home automation features?
8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?
To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at www.ce.org/techhomerating.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
How High Tech is Your Home?
If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist.
1. Are there enough jacks in every room for cable TV and high-speed Internet hookups?
2. Are there ample telephone extensions or jacks?
3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?
4. Does the home have a local area network (LAN) for linking computers?
5. Does the home already have wiring for DSL or another high-speed Internet connection?
6. Does the home have multizoning heating and cooling controls with programmable thermostats?
7. Does the home have multiroom lighting controls, window-covering controls, or other home automation features?
8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?
To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at www.ce.org/techhomerating.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Friday, December 3, 2010
How Big of a Mortgage Can I Afford?
The Weidauer Group - The Leader in Real Estate
How Big of a Mortgage Can I Afford?
Not only does owning a home give you a haven for yourself and your family, it also makes great financial sense because of the tax benefits — which you can’t take advantage of when paying rent.
The following calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too. Based on your current rent, use this calculation to figure out how much mortgage you can afford.
Rent: _________________________
Multiplier: x 1.32
Mortgage payment: _________________________
Because of tax deductions, you can make a mortgage payment — including taxes and insurance — that is approximately one-third larger than your current rent payment and end up with the same amount of income.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
How Big of a Mortgage Can I Afford?
Not only does owning a home give you a haven for yourself and your family, it also makes great financial sense because of the tax benefits — which you can’t take advantage of when paying rent.
The following calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too. Based on your current rent, use this calculation to figure out how much mortgage you can afford.
Rent: _________________________
Multiplier: x 1.32
Mortgage payment: _________________________
Because of tax deductions, you can make a mortgage payment — including taxes and insurance — that is approximately one-third larger than your current rent payment and end up with the same amount of income.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Thursday, December 2, 2010
5 Factors That Decide Your Credit Score
The Weidauer Group - The Leader in Real Estate
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:
1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.
2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.
3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.
4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.
5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.
For more on evaluating and understanding your credit score, contact me using one of my contact points below.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:
1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.
2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.
3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.
4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.
5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.
For more on evaluating and understanding your credit score, contact me using one of my contact points below.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Tuesday, November 23, 2010
Budget Basics Worksheet
The Weidauer Group – The Leader in Real Estate
Budget Basics Worksheet
The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.
| INCOME | |
| Take Home Pay (all family members) | |
| Child Support/Alimony | |
| Pension/Social Security | |
| Disability/Other Insurance | |
| Interest/Dividends | |
| Other | |
| Total Income | |
| EXPENSES | |
| Rent/Mortgage (include taxes, principal, and insurance) | |
| Life Insurance | |
| Health/Disability Insurance | |
| Vehicle Insurance | |
| Homeowner’s or Other Insurance | |
| Car Payments | |
| Other Loan Payments | |
| Savings/Pension Contribution | |
| Utilities (gas, water, electric, phone) | |
| Credit Card Payments | |
| Car Upkeep (gas, maintenance, etc.) | |
| Clothing | |
| Personal Care Products (shampoo, cologne, etc.) | |
| Groceries | |
| Food Outside the Home (restaurant meals and carryout) | |
| Medical/Dental/Prescriptions | |
| Household Goods (hardware, lawn, and garden) | |
| Recreation/Entertainment | |
| Child Care | |
| Education (continuing education, classes, etc.) | |
| Charitable Donations | |
| Miscellaneous | |
| Total Expenses | |
| Remaining Income After Expenses (Subtract Total Income from Total Expenses) | |
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Thursday, November 18, 2010
6 Creative Ways to Afford a Home
The Weidauer Group – The Leader in Real Estate
6 Creative Ways to Afford a Home
1. Investigate local, state, and national down payment assistance programs. These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program, www.getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development, www.hud.gov.
2. Explore seller financing. In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you would do with a mortgage.
3. Consider a shared-appreciation or shared-equity arrangement. Under this arrangement, your family, friends, or even a third-party may buy a portion of the home and share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and maintenance costs, but all the investors' names are usually on the mortgage. Companies are available that can help you find such an investor, if your family can’t participate.
4. Ask your family for help. Perhaps a family member will loan you money for the down payment or act as a co-signer for the mortgage. Lenders often like to have a co-signer if you have little credit history.
5. Lease with the option to buy. Renting the home for a year or more will give you the chance to save more toward your down payment. And in many cases, owners will apply some of the rental amount toward the purchase price. You usually have to pay a small, nonrefundable option fee to the owner.
6. Consider a short-term second mortgage. If you can qualify for a short-term second mortgage, this would give you money to make a larger down payment. This may be possible if you’re in good financial standing, with a strong income and little other debt.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
6 Creative Ways to Afford a Home
1. Investigate local, state, and national down payment assistance programs. These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program, www.getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development, www.hud.gov.
2. Explore seller financing. In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you would do with a mortgage.
3. Consider a shared-appreciation or shared-equity arrangement. Under this arrangement, your family, friends, or even a third-party may buy a portion of the home and share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and maintenance costs, but all the investors' names are usually on the mortgage. Companies are available that can help you find such an investor, if your family can’t participate.
4. Ask your family for help. Perhaps a family member will loan you money for the down payment or act as a co-signer for the mortgage. Lenders often like to have a co-signer if you have little credit history.
5. Lease with the option to buy. Renting the home for a year or more will give you the chance to save more toward your down payment. And in many cases, owners will apply some of the rental amount toward the purchase price. You usually have to pay a small, nonrefundable option fee to the owner.
6. Consider a short-term second mortgage. If you can qualify for a short-term second mortgage, this would give you money to make a larger down payment. This may be possible if you’re in good financial standing, with a strong income and little other debt.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Wednesday, November 17, 2010
Loan Types to Consider
The Weidauer Group – The Leader in Real Estate
Loan Types to Consider
Brush up on these mortgage basics to help you determine the loan that will best suit your needs.
• Mortgage terms. Mortgages are generally available at 15-, 20-, or 30-year terms. In general, the longer the term, the lower the monthly payment. However, you pay more interest overall if you borrow for a longer term.
• Fixed or adjustable interest rates. A fixed rate allows you to lock in a low rate as long as you hold the mortgage and, in general, is usually a good choice if interest rates are low. An adjustable-rate mortgage is designed so that your loan’s interest rate will rise as market interest rates increase. ARMs usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. These types of mortgages are a good choice when fixed interest rates are high or when you expect your income to grow significantly in the coming years.
• Balloon mortgages. These mortgages offer very low interest rates for a short period of time — often three to seven years. Payments usually cover only the interest so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years.
• Government-backed loans. These loans are sponsored by agencies such as the Federal Housing Administration (www.fha.gov) or the Department of Veterans Affairs (www.va.gov) and offer special terms, including lower down payments or reduced interest rates to qualified buyers.
Slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment. For help in determining how much your monthly payment will be for various loan amounts, contact me now.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
Loan Types to Consider
Brush up on these mortgage basics to help you determine the loan that will best suit your needs.
• Mortgage terms. Mortgages are generally available at 15-, 20-, or 30-year terms. In general, the longer the term, the lower the monthly payment. However, you pay more interest overall if you borrow for a longer term.
• Fixed or adjustable interest rates. A fixed rate allows you to lock in a low rate as long as you hold the mortgage and, in general, is usually a good choice if interest rates are low. An adjustable-rate mortgage is designed so that your loan’s interest rate will rise as market interest rates increase. ARMs usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. These types of mortgages are a good choice when fixed interest rates are high or when you expect your income to grow significantly in the coming years.
• Balloon mortgages. These mortgages offer very low interest rates for a short period of time — often three to seven years. Payments usually cover only the interest so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years.
• Government-backed loans. These loans are sponsored by agencies such as the Federal Housing Administration (www.fha.gov) or the Department of Veterans Affairs (www.va.gov) and offer special terms, including lower down payments or reduced interest rates to qualified buyers.
Slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment. For help in determining how much your monthly payment will be for various loan amounts, contact me now.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
310-896-5769 or 424-247-4567 Español
NV DRE License #S.0070208
702-249-8912 or 424-247-4567 Español
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
www.facebook.com/weidauergroup
www.twitter.com/weidauergroup
www.youtube.com/weidauergroup
Thursday, May 27, 2010
Mortgage Rates At Their Lowest Level This Year
As the European debt turmoil continues investors are pouring their money into U.S. government securities and as a result mortgage rates have fallen to their lowest level so far this year.
Freddie Mac reported today that the average rate on a 30-year fixed mortgage dropped to 4.78 percent this week down from 4.84 percent last week which is the lowest level since early December when rates hit 4.71 percent.
The European debt crisis has pushed yields for both 10-year and 30-year Treasury bonds to their lowest levels of 2010. Rates on 30-year home loans and 10-year notes often rise and fall in line with one another.
Rates were pushed down to very low levels last year by a campaign that the Federal Reserve started in order to reduce borrowing costs for consumers. Mortgage rates were expected to begin an upwardly climb after the program ended this spring, but, instead they have dipped primarily due to fears that the government of Greece would default on its debt and in turn boosted the demand for U.S. Treasury.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Freddie Mac reported today that the average rate on a 30-year fixed mortgage dropped to 4.78 percent this week down from 4.84 percent last week which is the lowest level since early December when rates hit 4.71 percent.
The European debt crisis has pushed yields for both 10-year and 30-year Treasury bonds to their lowest levels of 2010. Rates on 30-year home loans and 10-year notes often rise and fall in line with one another.
Rates were pushed down to very low levels last year by a campaign that the Federal Reserve started in order to reduce borrowing costs for consumers. Mortgage rates were expected to begin an upwardly climb after the program ended this spring, but, instead they have dipped primarily due to fears that the government of Greece would default on its debt and in turn boosted the demand for U.S. Treasury.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Protect your Investment - Step 8
Whew. That was exhausting. But you’re done! Well, sort of.You’ve closed and moved in, but now you’ll need to protect your investment for years to come. And you can do so by performing routine maintenance on your home’s systems, depending on their age and condition. A good rule of thumb is to watch for signs of leaks, damage, and wear. If you fix small problems early, you will save yourself from having to spend big money later.
And remember that kind, real estate professional who assisted you throughout the process? Well, after closing your agent can still help you with such things as providing information for your tax returns, finding contractors and repair services, and even tracking your home’s current market value.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
And remember that kind, real estate professional who assisted you throughout the process? Well, after closing your agent can still help you with such things as providing information for your tax returns, finding contractors and repair services, and even tracking your home’s current market value.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Two Months Of Gains In New Home Sales
April posted another big gain in new home sales as buyers raced to sign contracts for new homes before the two government home-buyer tax credits expired on April 30th.
The Commerce Department reported today that sales of new single-family homes in April jumped up 14.8 percent to a seasonally adjusted annual rate of 504,000 units which followed March's gains of 29.8 percent which was the biggest monthly increase in almost 50 years.
Both March and April had a higher volume of buyers trying to sign sales contracts before the tax credits expired. Furthermore, low mortgage rates combined with the tax incentives really fueled purchases during those two months.
Despite the large amount of new home sales, home values did not get a boost. The median sales price fell to $198,400 which is 9.6 percent below the March median price for a new home.
March and April's big surge in new home sales were the highest levels of sales since May 2008. Sales around the nation were higher in April. In the Midwest sales were up 31.6 percent with the West showing an increase of 21.7 percent. Even the South posted a 10.8 percent increase.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
The Commerce Department reported today that sales of new single-family homes in April jumped up 14.8 percent to a seasonally adjusted annual rate of 504,000 units which followed March's gains of 29.8 percent which was the biggest monthly increase in almost 50 years.
Both March and April had a higher volume of buyers trying to sign sales contracts before the tax credits expired. Furthermore, low mortgage rates combined with the tax incentives really fueled purchases during those two months.
Despite the large amount of new home sales, home values did not get a boost. The median sales price fell to $198,400 which is 9.6 percent below the March median price for a new home.
March and April's big surge in new home sales were the highest levels of sales since May 2008. Sales around the nation were higher in April. In the Midwest sales were up 31.6 percent with the West showing an increase of 21.7 percent. Even the South posted a 10.8 percent increase.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Monday, May 24, 2010
Close - Step 7
You’ve made an offer and performed due diligence, which means you’re now in the “home” stretch, pun intended. But you have a few preclosing responsibilities, and these include:
Staying in control of your credit and finances, first and foremost.
Keeping in touch with your agent and lender and returning all phone calls and paperwork promptly.
Communicating with your agent at least once or twice a week, and verifying with your lender that all mortgage funding steps are completed.
Conducting a final walk-through of the home with your agent.
Confirming with your agent, home insurance professional, and lender that you have the settlement statement, certified funds, and evidence of insurance lined up prior to closing.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Staying in control of your credit and finances, first and foremost.
Keeping in touch with your agent and lender and returning all phone calls and paperwork promptly.
Communicating with your agent at least once or twice a week, and verifying with your lender that all mortgage funding steps are completed.
Conducting a final walk-through of the home with your agent.
Confirming with your agent, home insurance professional, and lender that you have the settlement statement, certified funds, and evidence of insurance lined up prior to closing.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Tuesday, May 18, 2010
Perform Due Diligence - Step 6
Just because you love a particular property doesn’t mean that it’s perfect. In fact, this is where reason has to trump emotion. You’ll need to have a property inspection (which we highly recommend you attend) that will hopefully expose all the issues a home might hide. This way you’ll know exactly what you are getting into before you sign closing papers.
Your main concern is the possibility of structural damage. This can come from water damage, shifting ground, or poor construction when the house was built.
Don’t sweat the small stuff. It’s the inspector’s job to mark everything discovered no matter how large or small. Things that are easily fixed can be overlooked.
If you have a big problem show up in your inspection report, you should bring in a specialist and if the worst-case scenario turns out to be true, you might want to walk away from the purchase.
And even if your home passes inspection with flying colors, you’ll still need to buy a home owner’s insurance policy protects you against loss or damage to the property itself and against liability in case someone sustains an injury while on your property.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Your main concern is the possibility of structural damage. This can come from water damage, shifting ground, or poor construction when the house was built.
Don’t sweat the small stuff. It’s the inspector’s job to mark everything discovered no matter how large or small. Things that are easily fixed can be overlooked.
If you have a big problem show up in your inspection report, you should bring in a specialist and if the worst-case scenario turns out to be true, you might want to walk away from the purchase.
And even if your home passes inspection with flying colors, you’ll still need to buy a home owner’s insurance policy protects you against loss or damage to the property itself and against liability in case someone sustains an injury while on your property.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Wednesday, April 21, 2010
Housing Starts And Permits Rise in March
April 16, 2010 - Nationwide housing starts rose for a third consecutive month in March to a seasonally adjusted annual rate of 626,000 units from an upwardly revised February number, according to figures released today by the U.S. Commerce Department. The rate of permit issuance for new housing construction also rose by a solid 7.5 percent in the month, to a seasonally adjusted annual rate of 685,000 units.
“After an uncertain couple of months, home builders are gradually getting back to what they do best as the spring home buying season commences and consumers return to the market,” said Bob Jones, Chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich. “While we still have a long way to go, today’s numbers are an indication that builders are looking down the road with a bit more optimism.”
“Today’s report is very encouraging, because it signifies that home builders are confident enough to begin work on homes that will very likely be completed after the expiration of the home buyer tax credits,” noted NAHB Chief Economist David Crowe. “The solid gain in permit issuance last month is particularly welcome news, since those numbers are generally a reliable indicator of future building activity. That said, considerable headwinds continue to impede housing’s recovery, including the critical shortage of credit for housing production that is stifling new development in reviving markets.”
While single-family starts slipped 0.9 percent in March, this small decline – from an upwardly revised number the previous month – was due entirely to a drop-off in the Midwest from an abnormally high February level; all other regions reported single-family gains in March. Nationwide multifamily starts gained 18.8 percent to a 95,000-unit rate for the month.
The 7.5 percent gain in nationwide building permits reflected a 5.6 percent uptick to 543,000 units on the single-family side and a 15.4 percent gain to a 142,000-unit rate on the multifamily side.
Regionally, combined single- and multifamily starts activity rose 18.2 percent in the South, which is the largest regional housing market, but fell 28.4 percent in the Midwest, 8.3 percent in the Northeast and 2.1 percent in the West.
Combined permit activity rose 17.6 percent in the Midwest and 18.4 percent in the South, but fell 19.5 percent in the Northeast and 6.7 percent in the West in March.
“After an uncertain couple of months, home builders are gradually getting back to what they do best as the spring home buying season commences and consumers return to the market,” said Bob Jones, Chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich. “While we still have a long way to go, today’s numbers are an indication that builders are looking down the road with a bit more optimism.”
“Today’s report is very encouraging, because it signifies that home builders are confident enough to begin work on homes that will very likely be completed after the expiration of the home buyer tax credits,” noted NAHB Chief Economist David Crowe. “The solid gain in permit issuance last month is particularly welcome news, since those numbers are generally a reliable indicator of future building activity. That said, considerable headwinds continue to impede housing’s recovery, including the critical shortage of credit for housing production that is stifling new development in reviving markets.”
While single-family starts slipped 0.9 percent in March, this small decline – from an upwardly revised number the previous month – was due entirely to a drop-off in the Midwest from an abnormally high February level; all other regions reported single-family gains in March. Nationwide multifamily starts gained 18.8 percent to a 95,000-unit rate for the month.
The 7.5 percent gain in nationwide building permits reflected a 5.6 percent uptick to 543,000 units on the single-family side and a 15.4 percent gain to a 142,000-unit rate on the multifamily side.
Regionally, combined single- and multifamily starts activity rose 18.2 percent in the South, which is the largest regional housing market, but fell 28.4 percent in the Midwest, 8.3 percent in the Northeast and 2.1 percent in the West.
Combined permit activity rose 17.6 percent in the Midwest and 18.4 percent in the South, but fell 19.5 percent in the Northeast and 6.7 percent in the West in March.
Make an Offer - Step Five
Congratulations! So you’ve found a home you love. Now you need to make a compelling offer. Look to your agent to explain the process and guide you through. Ultimately, the right price to offer must fairly reflect the true market value of the home you want to buy. Your agent’s market research will help guide this decision.
The three basic components of your purchase offer are price, terms, and contingencies.
Price is obviously the dollar amount you are approved for, willing and able to pay.
Terms cover the other financial and timing factors that will be included in the offer.
Contingencies are clauses that let you out of the deal if the house has a problem that didn’t exist or which you weren’t aware of when you went under contract. They specify any event that will need to take place in order for you to fulfill the contract.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
www.weidauergroup.com
The three basic components of your purchase offer are price, terms, and contingencies.
Price is obviously the dollar amount you are approved for, willing and able to pay.
Terms cover the other financial and timing factors that will be included in the offer.
Contingencies are clauses that let you out of the deal if the house has a problem that didn’t exist or which you weren’t aware of when you went under contract. They specify any event that will need to take place in order for you to fulfill the contract.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
www.weidauergroup.com
Thursday, April 15, 2010
Find Your Home - Step Four
So you are preapproved and ready to begin your search. But how or where do you begin? The best thing is to consult with your agent to more accurately pinpoint the home you are looking for. The right home will meet all your important needs, and as many of your additional wants as possible. Some questions you might ask yourself include:
What do I want my home to be close to?
How much space do I need and why?
Which is more critical: location or size?
Would I be interested in a fixer-upper?
How important is home value appreciation?
Is neighborhood stability a priority?
Would I be interested in a condo?
What features and amenities do I want? Which do I really need?
You’ll learn as you look at homes, it’s wise to refine your priorities along the way.
www.weidauergroup.com
What do I want my home to be close to?
How much space do I need and why?
Which is more critical: location or size?
Would I be interested in a fixer-upper?
How important is home value appreciation?
Is neighborhood stability a priority?
Would I be interested in a condo?
What features and amenities do I want? Which do I really need?
You’ll learn as you look at homes, it’s wise to refine your priorities along the way.
www.weidauergroup.com
California Statewide March Home Sales
April 15, 2010
An estimated 37,295 new and resale houses and condos were sold statewide last month. That was up 32.7 percent from 28,111 in February, and up 3.0 percent from 36,215 in March 2009. California sales for the month of March have varied from a low of 24,565 in 2008 to a peak of 68,848 in 2005, while the average is 44,486. MDA DataQuick's statistics go back to 1988.
The median price paid for a home last month was $255,000, up 2.4 percent from $249,000 in February, and up 14.3 percent from $223,000 in March a year ago. The year-over-year increase was the fifth in a row, following 27 months of year-over-year declines. The median peaked at $484,000 in early 2007 and hit a post-boom low of $221,000 last April.
Of the homes that resold last month, 40.5 percent were properties that had been foreclosed on during the past year. That was down from 44.3 percent in February and down from 56.7 percent in March a year ago. The last time foreclosures resales were lower than last month was in November 2009, when they were 40.1 percent of the resale market.
The typical mortgage payment that home buyers committed themselves to paying last month was $1,091. That was up from $1,068 in February, and up from $958 in March a year ago. Adjusted for inflation, last month's mortgage payment was 49.1 percent below the spring 1989 peak of the prior real estate cycle. It was 58.7 percent below the current cycle's peak in June 2006.
MDA DataQuick is a division of MDA Lending Solutions, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. MDA DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
Indicators of market distress continue to move in different directions. Foreclosure activity is off its peaks reached in the past two years but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying remains above average, MDA DataQuick reported.
www.weidauergroup.com
An estimated 37,295 new and resale houses and condos were sold statewide last month. That was up 32.7 percent from 28,111 in February, and up 3.0 percent from 36,215 in March 2009. California sales for the month of March have varied from a low of 24,565 in 2008 to a peak of 68,848 in 2005, while the average is 44,486. MDA DataQuick's statistics go back to 1988.
The median price paid for a home last month was $255,000, up 2.4 percent from $249,000 in February, and up 14.3 percent from $223,000 in March a year ago. The year-over-year increase was the fifth in a row, following 27 months of year-over-year declines. The median peaked at $484,000 in early 2007 and hit a post-boom low of $221,000 last April.
Of the homes that resold last month, 40.5 percent were properties that had been foreclosed on during the past year. That was down from 44.3 percent in February and down from 56.7 percent in March a year ago. The last time foreclosures resales were lower than last month was in November 2009, when they were 40.1 percent of the resale market.
The typical mortgage payment that home buyers committed themselves to paying last month was $1,091. That was up from $1,068 in February, and up from $958 in March a year ago. Adjusted for inflation, last month's mortgage payment was 49.1 percent below the spring 1989 peak of the prior real estate cycle. It was 58.7 percent below the current cycle's peak in June 2006.
MDA DataQuick is a division of MDA Lending Solutions, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. MDA DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
Indicators of market distress continue to move in different directions. Foreclosure activity is off its peaks reached in the past two years but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying remains above average, MDA DataQuick reported.
www.weidauergroup.com
Tuesday, April 13, 2010
Secure Financing - Step Three
It’s normal to ask how much you can afford. Ultimately, your lender will preapprove you for a certain amount, but YOU will decide what you’re comfortable paying every month.
Be sure to follow these six steps to financing your home:
1. Choose a loan officer.
2. Make a loan application and get preapproved.
3. Determine what you want to pay and select a loan option.
4. Submit to the lender an accepted purchase offer contract.
5. Get an appraisal and title commitment.
6. Obtain funding at closing.
Be sure to follow these six steps to financing your home:
1. Choose a loan officer.
2. Make a loan application and get preapproved.
3. Determine what you want to pay and select a loan option.
4. Submit to the lender an accepted purchase offer contract.
5. Get an appraisal and title commitment.
6. Obtain funding at closing.
Wednesday, April 7, 2010
Hire Your Agent - Step Two
When you’re looking for a real estate professional to help you, know that above all else good agents put their clients first. The seven main roles your real estate agent will perform include:
1. Educate you about your market.
2. Analyze your wants and needs.
3. Guide you to homes that fit your criteria.
4. Coordinate the work of other needed professionals.
5. Negotiate on your behalf.
6. Check and double-check paperwork and deadlines.
7. Solve any problems that may arise.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
www.weidauergroup.com
1. Educate you about your market.
2. Analyze your wants and needs.
3. Guide you to homes that fit your criteria.
4. Coordinate the work of other needed professionals.
5. Negotiate on your behalf.
6. Check and double-check paperwork and deadlines.
7. Solve any problems that may arise.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
www.weidauergroup.com
Tuesday, April 6, 2010
Decide to Buy - Step One
How do you know if it’s the right time for you to buy your first home? Here are a few tips to help you get started:
•Purchasing your own home is a great investment that provides specific financial advantages, including equity buildup, value appreciation potential, and tax benefits. (It’s also a forced savings plan that you cannot get from renting!)
•Done right, home ownership lays the foundation for a life of financial security and personal choice.
•There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run.
•Here’s the most important rule for keeping your stress to a minimum: you don’t have to know everything.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
www.weidauergroup.com
•Purchasing your own home is a great investment that provides specific financial advantages, including equity buildup, value appreciation potential, and tax benefits. (It’s also a forced savings plan that you cannot get from renting!)
•Done right, home ownership lays the foundation for a life of financial security and personal choice.
•There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run.
•Here’s the most important rule for keeping your stress to a minimum: you don’t have to know everything.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
www.weidauergroup.com
Wednesday, March 31, 2010
HAP
U.S. Department of Defense – Homeowners Assistance Program
The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement. The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.
Contact the Weidauer Group - The Leader in Real Estate for all your HAP questions!
http://www.weidauergroup.com
http://www.thehomeownersassistanceprogram.com
U.S. Department of Defense – Homeowners Assistance Program
The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement. The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.
Contact the Weidauer Group - The Leader in Real Estate for all your HAP questions!
http://www.weidauergroup.com
http://www.thehomeownersassistanceprogram.com
The Weidauer Group - The Leader in Real Estate
The Weidauer Group
In our experience, a home isn’t a dream home because of its room dimensions. It’s about how you feel when you walk through the front door and the way you can instantly envision your life unfolding there.
This is about more than real estate. It’s about your life and your dreams.
The Weidauer Group Difference:
Knowledge:
Powerful curriculum through Keller Williams University keeps The Weidauer Group ahead of the latest trends, tools and advancements in the real estate industry.
Teamwork:
Unlike other real estate agents, The Weidauer Group was designed to encourage agents to work together and serve our clients better.
Reliability:
The Weidauer Group was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting our client’s needs first.
Speed:
Leading-edge technology solutions accelerate The Weidauer Group’s efficiency and productivity.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
NV DRE License #
In our experience, a home isn’t a dream home because of its room dimensions. It’s about how you feel when you walk through the front door and the way you can instantly envision your life unfolding there.
This is about more than real estate. It’s about your life and your dreams.
The Weidauer Group Difference:
Knowledge:
Powerful curriculum through Keller Williams University keeps The Weidauer Group ahead of the latest trends, tools and advancements in the real estate industry.
Teamwork:
Unlike other real estate agents, The Weidauer Group was designed to encourage agents to work together and serve our clients better.
Reliability:
The Weidauer Group was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting our client’s needs first.
Speed:
Leading-edge technology solutions accelerate The Weidauer Group’s efficiency and productivity.
Darin Weidauer
Realtor
702-249-8912
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
CA DRE License #01870184
3090 S. Durango #100
Las Vegas, NV 89117
NV DRE License #
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