Irvine- Make Your Move Today!!

MAKE YOUR MOVE

You know that it takes planning and preparation to sell your home, and the same applies to making a purchase.  But whether buying or selling, you’ll also have to put a lot of thought into Moving Day.  When thinking of buying or selling a home please be sure to visit  new homes for sale in Irvine for the latest news an information on the Orange County real estate market.

After you’ve gotten three in-home estimates from professional moving companies and made your choice, start packing!

By starting your packing well in advance, you’re actually less likely to pack things you no longer need.  Sort those items separately as you go, and then have a yard sale or get receipts and deduct your donations.

When it comes to packing materials, you can save both money and the environment by using what you’ve already got.  Instead of bubble wrap or paper, use towels, sheets, and other soft items to wrap your breakables and save space.

Label each box by number and room, and keep an inventory of its contents.  Save a couple “load last” boxes for easy access on moving day and your arrival (towels, sheets, toiletries, medications, etc.).

When you do arrive, try not to be overwhelmed by all the piles of boxes.  It’s a lot more fun to unpack and rearrange in your new home than it is to load everything up.  If you’re properly organized, you can quickly get settled.  Just work on one room at a time and be sure to start in the kitchen!

Larry Weichman is President and Broker of Orange County-based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine  since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com.

Irvine Homesellers- You are Not Alone- Ever!!

YOU’RE NOT ALONE!

Foreclosure.  The very term strikes fear into the heart of any homeowner.  Would you believe that one in every 1000 homes in the U.S. were in the process of foreclosure at the end of 2006?  If you’re facing such circumstances, first understand that you are not alone.  Be sure to visit short sale real estate in Irvine, Ca for the latest news and information on the Orange County real estate market.

Most people got into this position by taking advantage of ridiculously low introductory rates on adjustable rate mortgages (ARMs).  Now that those loans are resetting, consumers face dramatic increases in the interest rate, and consequently, the monthly payment.  Even a reasonable rate like 7% becomes a burden to those who have grown accustomed to the 1 or 2 percent introductory rates.

Ideally, a short sale coordinated by a real estate professional provides the opportunity to satisfy all the motivated parties – seller, buyer, and lender.  The seller wins by liquidating the property before foreclosure proceedings begin.  The buyer benefits by securing property at a good value.  Finally, the lender benefits by not having to initiate the foreclosure or take the property back.

A real estate agent may even have suggestions to help keep you in your home.  Granted, it isn’t a sale, but agents appreciate the subtleties of building good relationships with loyal clients who will refer business to them in the future.  Trust a professional to guide you through this difficult time with experience, courtesy and respect.

Larry Weichman is President and Broker of Orange County-based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com.

Lower Rates With A Lower Score- Pay attention Irvine Homeowners!

Attention Costa Mesa Get LOWER RATES WITH A HIGHER SCORE!

Recently lenders in this real estate market are an increasingly difficult crowd to please, so if you’re looking for the best deal on a mortgage for an IRVINE AFFORDABLE HOME FOR SALEyou need a couple of strategies to improve your credit score.  Lenders use that number to determine your risk of default, and it may be the single most important factor in your application.

Scores range anywhere from a very risky 300 to a perfect 850.  You’ll need a 750 today to get terms a 700 would have gotten you two years ago.  Begin with a $16 investment at myfico.com, where your three reports from Experian, Equifax and TransUnion are averaged into one representative score.

A Zogby poll reports that one third of all people who request a credit report find errors.  Your score is only as accurate as your information, so scour your report and correct errors immediately.  This could boost your score by as much as 200 points!

The largest percentage of your score is determined by your payment histories, but the second largest factor is your “card utilization rate,” or your total balances compared to your total credit limits.  10% is the ideal number (like $2,500 in charges when you have a $25,000 line of credit).

If you correct errors, have an excellent payment history, and get your debt-to-credit ratio down, you can expect to save thousands with a lower interest rate on your mortgage.

Larry Weichman is President and Broker of Orange County-based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine  since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com.

6-23-2010

Irvine Homesellers- Myth Busting!

MYTH BUSTING

When a homeowner faces default on their mortgage, there may be two options: foreclosure or short sale.  Foreclosure can be devastating, both emotionally and financially.  A short sale, or one in which the lender accepts a selling price less than the amount owed, is a better option for both the lender and the homeowner. Be sure to visit short sale real estate in Irvine for the latest  news and information on the Orange County real estate market

Regrettably, nearly seven out of ten homeowners proceed through foreclosure without ever listing their home for sale.  This is due largely to perceived myths about the process, and we need to put a few of these misconceptions to rest.

First, homeowners assume the bank would rather foreclose than accept a short sale.  Not true – foreclosure is often more costly for the lender, and short sales often sell for more than foreclosed listings.  The banks are trying anything possible, within reason, to avoid the foreclosure process.

Next, homeowners believe there is a stigma attached to short sale listings, and that buyers have no interest in such properties.  Not true – to the contrary, many smart buyers are specifically seeking out such offerings for the value they present compared to traditional listings.

Finally, homeowners often assume that there’s not enough time to close a short sale before foreclosure is final.  Not true – foreclosure is a lengthy process and there is time to negotiate a better result, but you need to start today.

Larry Weichman is President and Broker of Orange County -based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine  since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com.

Irvine Sellers- Fom “Less” to “Yes”

FROM “LESS” TO “YES”

The painful truth: Sellers who do not price their property competitively are the most likely targets of lowball offers.  When selling your property in Irvine please be sure to visit new homes for sale  in Irvine for the latest news and information on the Orange County real estate market.

In soft markets, buyers are more prone to make low offers on listings seen to be priced too high.  Listings that don’t sell usually require price reductions, which in turn often mean ultimately accepting an offer lower than you could have received by pricing aggressively from Day One.

Since selling your home can be such an emotional and subjective experience, it’s easy to understand why you’d be reluctant to counter an offer below your asking price.  But rather than feel insulted, try to see it as the beginning of a dialogue that could ultimately produce a sale.

If you feel any of the terms or conditions of the offer are unacceptable, ask your agent to present a counter-offer.  Sometimes buyers and sellers don’t really know beforehand what price they’ll accept until they’ve begun the negotiations.  For example, a buyer might agree to a higher price than planned if interest rates suddenly drop.

If you’ve received a lower than expected offer, but the buyers have proven their qualifications and commitment by securing loan pre-approval, you have grounds for serious consideration.  The process of counter-offering can be swiftly settled or carry on ad nauseam.  Be prepared to explore all options and act quickly before letting your negotiations fail.

Larry Weichman is President and Broker of Orange County -based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com.

No ” Chicken Little” for You! Irvine homeowners!

NO “CHICKEN LITTLE”!

If you’re a homeowner, what do falling prices mean to you? To find out, be sure to visit affordable homes for sale in Irvine, Ca for the latest news and information on the Irvine real estate market.

  You might assume that it’s a bad time to sell.  But guess what?  It could mean it’s the perfect time to buy the home of your dreams!

Do the math, and you see that market downturns can actually work in your favor.  Homes are listing at prices that are truly affordable.  If you’ve already built equity in your current home, you could parlay that into the purchase of a terrific property. 

When prices do rise again, and you know they will, you will have made an excellent investment for the future.  If the home you really want was previously offered at $500,000 but the price has fallen – let’s say 20% to $400,000 – that’s a sweet deal, even if your own home has lost some value.

In any home purchase, there are usually some concessions: location, style of architecture, or any number of features.  If you made some concessions when you bought your current property, and you can replace the negatives with the positive features you’ve found in another home, now is the time to make your move!

Once the market turns around – and again, you know it will – you’ll find your appreciation will be greater in the new, larger home.  It’s an upgrade at an opportune time that makes good investment sense.

Larry Weichman is President and Broker of Orange County-based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. 

When Purchasing A Home in Irvine- What You Need To Know About An Escrow Account

 

 When buying scenic property in Irvine, Ca  or just making  an offer, you will encounter the term “escrow account.” Like making a friendly bet and asking a third party to hold the wager money, the “escrow agent” is the neutral party that holds funds in the interest of the mortgage lender and the borrower.

 

When the terms of the purchase and loan agreements have been met, the money is released. When your application is approved and the loan takes effect, the lender will likely require money for property taxes and homeowner’s insurance also to be held in escrow. These funds are added to your monthly mortgage payment and disbursed when the tax and insurance bills are due. 

This protects the lender by ensuring a lien isn’t placed against your property for non-payment of taxes, and your home (their collateral) is protected against catastrophe. But escrow also benefits borrowers by spreading the large annual payments for taxes and insurance over twelve months. 

For example, if your taxes are $1,600 per year and your insurance is $800, you’re budgeting a reasonable $200 per month instead of making two big payments. Escrow accounts do not earn interest, so if you make a large enough down payment, you may be able to avoid the monthly escrow and pay the bills directly. Ask your agent and your lender about the pros and cons. 

Larry Weichman is President and Broker of Orange County-based real estate powerhouse Weichman Realtors. Weichman Realtors have their own interior design person on staff to assist you in staging your home for sale or she can assist you with design ideas on your new home that you have purchased thru Weichman Realtors! Larry and his highly-trained team of professionals have proudly served Irvine since 1976. For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. 

Irvine Home Sellers! Why advertising wont work!

WHY ADVERTISING WON’T WORK!

As you prepare to sell your home, you’ll probably consider the best way to advertise it.  Surprisingly, advertising doesn’t work.  But marketing does, and there is a big difference.  An agent will be more involved in “marketing” your home, and here’s why.

 While ads focus on a “product,” marketing involves targeting consumers based on their lifestyle and the opportunities provided by what you are offering.  Real estate agents have a list of ready and willing buyers with whom they have already been working, and they understand the needs and qualifications of those buyers.  Chances are that an agent can “market” your home to many of them without ever placing an ad or holding an open house.

A photo and description of your home’s features, in a newspaper or magazine or online, is simply “advertising,” and is not going to generate much interest.  A recent consumer survey conducted by the National Association of REALTORS® revealed that fewer than 5 percent of buyers found these ads helpful in selecting homes.

Buyers want to purchase a version of a “dream,” not the bricks, windows, and siding that the dream is made of.  Ask your agent about how they plan to “market” that dream to the buyers they already know and to other agents and their buyers.  You’ll be surprised how much more effective marketing can be than advertising.

 Larry Weichman is President and Broker of Orange County based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served  Irvine  since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. Be sure to visit new homes for sale in  Irvine, Ca for the latest news and information on the Orange County real estate market.

Irvine Home Sellers ! Now Is The Time To Show Off!!!

If you’ve followed advice given here about sprucing up your home’s exterior, well done!  Now let’s focus attention on the next thing potential buyers will see – the front door and the interior.  Now is the time for spring-cleaning and to show off your home’s best features. For more tips be sure to visit luxury homes for sale  in Irvine Ca for the latest news and information on the Irvine real estate market..

One way to get started is to repaint that front door and touch up around the entry.  Make it warm and welcoming with updated light fixtures at the entrance and foyer. Speaking of entries, check your windows and doors for energy efficiency.  If they’re not airtight, an investment in new windows and insulation will pay off handsomely and impress buyers.

Another great way is freshly repainted walls. You can achieve a bright, clean look with light yellow or cream on the walls and contrasting white woodwork.  Buff up your wood floors, clean your area rugs or carpets, and replace any worn carpeting before your first showing.

Buyers look carefully at bathrooms, so be sure to remove any spots of mildew, replace caulking, and consider a small investment in a new sink and vanity to really make things sparkle.

The icing on the cake is to offer buyers a “home warranty” on the appliances in your house, allowing them a full year of service on anything that happens to go wrong.  Your pride of ownership and their peace of mind should combine to produce a sale!

Larry Weichman is President and Broker of Orange County -based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532  or email your questions to Larry@TeamWeichman.com.

Opportunity knocks for Irvine Homebuyers!

Whether the market is up or down (and particularly if it’s down), buying a “fixer-upper” and updating it can prove to be a profitable venture.  As with any real estate investment, however, it’s wise to enter with eyes wide open. Knowledge and caution will help you avoid common pitfalls.

Please sure to visit affordable homes for sale in Irvine Ca for the latest news and information on the Irvine real estate market.There are many fine homes being offered at lower prices by motivated sellers.  Don’t overlook the opportunity these properties present!

 The ideal candidate for such a purchase would be priced roughly 30 percent below the value of nearby homes, and located in a community with low crime rates and good schools.  The only thing you can’t repair or improve is a poor location.

 And just because you can improve almost anything doesn’t mean that you should!  Avoid homes in need of truly major (and unprofitable) repairs such as the foundation, structural plumbing, or complete kitchen and bath renovations.  Because these features are simply expected by buyers, they won’t necessarily add any value to your offering.

 Another aspect that is often overlooked is your fixer-upper’s proximity to where you live.  Keep it within an hour’s drive, because you’ll want (and need) to check in regularly, probably daily, while your repairs and renovations are in progress.  The cost of fuel is high enough these days that you don’t want to blow your profits on your gas tank!

 Larry Weichman is President and Broker of Orange County based real estate powerhouse Weichman Realtors. Larry and his highly-trained team of professionals have proudly served Irvine since 1976.  For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichmancom.