Articles tagged with: Realtor

Annual shredding event Saturday, April 3

Annual shredding event Saturday, April 3

We hope you can swing by to say hello on Saturday, April 3 during our annual shred event.

All CDC health and safety guidelines will be adhered to

When: Saturday, April 3
Time: 10 am to noon

Contact us for location details! 

All materials will be shredded in view, giving you peace of mind knowing your personal information is disposed of properly.

The 2021 Forecast: A hot year for housing

The 2021 Forecast: A hot year for housing

The year 2020 was going to be one of the hottest years on record for the U.S. economy. That all came to an abrupt halt in March due to Coronavirus Pandemic.

With a national emergency and stay-at-home orders across the country, the U.S. was thrown into a recession. Yet, this was not like any other recession.

Recessions are typically caused by one sector of the economy dramatically turning negative, which pulls down the entire country to negative territory.

This time it was a forced shutdown of the economy to save lives from a once-in-a-lifetime pandemic.

Every economic chart was impacted, from consumption to unemployment to equities, nothing was spared.

The Federal Reserve did everything in their power to mitigate the damage to the economy, and Washington, D.C. provided major relief packages to aid the unemployed and small business owners.

The GDP had its worst quarter over quarter reading in the history of the U.S. during the second quarter, followed by the best quarter over quarter reading during the third quarter.

The economy has dramatically improved, but there is still a long way to go.

It will take a bit more time due to the slow rollout of the recently approved vaccines. The low interest rate environment will continue and will be a tailwind that will not only aid the recovery to the economy, but it will also continue to fuel the incredible run on housing in 2021.

As a result, the local housing market is going to be HOT in 2021. Bottom line, 2021 will continue where the second half of 2020 left off, HOT.

It will be a hot seller’s market from the start of the year through the summer market. Multiple offers and bidding wars will be the norm for home priced below $1.25 million. Once again, the market will heavily favor sellers.

Buyers will have to pack their patience to isolate their piece of the American Dream and take advantage of record low mortgage rates.

From mid-August on, the beginning of the autumn market, housing will evolve into a slight seller’s market, where sellers still get to call more of the shots, but home values do not change as much.

Buyers will be willing to stretch prices from January through July, if sellers do not over-price, but cautiously pricing will be even more important during the second half of the year.

Realtor Redux: A 'Light' Redux in La Habra Brings in an Extra $60k

Realtor Redux: A 'Light' Redux in La Habra Brings in an Extra $60k

When we received a call to discuss the sale of a home in La Habra, it was right up our alley.

The seller was looking to sell his long-time family home and was very aware and direct about its need for a facelift. It had been advised, by another agent, that the seller spend upward of $60,000 to do a major renovation thereby increasing the potential asking price of the home.

When this was explained to us we offered a different approach.

Since the large scale and very expensive renovation suggested wasn’t going to fundamentally change the home – adding a bathroom or additional square footage for example – we advised the seller to think long and hard about spending so much money.

As the home was only 1,100 square feet and one bathroom, our opinion was that over-improving things like the kitchen for example may not yield a sufficient return on the investment.

SO, we suggested a light ‘redux’ that involved spending about $12,000 to improve the potential asking price by about $50,000.

In the end our budget allowed for a full interior re-paint, refinishing the original 1954 hardwood flooring along with changing various light fixtures, installing new kitchen and bathroom flooring and a new dishwasher.

Our investment did the trick!

Once completed Martina did a fantastic job beautifully staging the home. We complimented the prep and staging with professional photos and went on the market.

We sold the home within four days to a lovely young couple and sold the home for $10,000 over asking price, a FULL $60,000 over the original as-is price.

The seller was thrilled by the speed of the sale and the fact that not only did his investment pay off multiple times, but it essentially was fully paid for by the increase in our sales price.

Realtor Redux: 3 inspired buyers; $10k over-asking

Realtor Redux: 3 inspired buyers; $10k over-asking

We specialize in advising homeowners on strategic home improvements they can make to increase their net proceeds when they go to sell, so when a previous client reach out to us for help getting his home ready for market, we were ready for the task.

Our client acknowledged his property was in need of inspired improvement. We immediately got to work on the exterior, removing overgrown shrubbery and making wood repairs prior to a full exterior re-paint.

We took a paint brush to the interior walls and installed new carpets, select lighting, mirror and faucet replacements. To cap it off, we took on a deep cleaning of the home and windows.

We listed the freshly prepared home on a Thursday at noon time. COVID-19 restrictions mean we still cannot host public open houses are allowed, but in the next few days scheduled 25 private buyer showings.

We ended up with three inspired homebuyers who made offers. After careful review and consideration of multiple factors, our client selected a buyer escrow for $10,000 above our increased asking price (we raised the price $10,000 the day prior to going on the market).

In the end, the seller spent approximately $18,000 on improvements to prepare the home for the market. By our estimates, his investment easily resulted in 3x cash return on the sales price of the home.

The Redux method has been proven time and again to result in both a faster sale and a higher sales price. We are believers in putting in the effort up front to have a positive and more favorable outcome for the seller.

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Company License #01272441

Company License #01272441

DRE #01189723 (Martina Bobbett)
DRE #01272441 (James Bobbett)