Buying a piece of Malibu land can be a dream come true,especially if you have always wanted to live in this prestigious area. However,your dream can quickly turn into a nightmare if you do not ask the right questions. Once you find a suitable Malibu real estate agent,use this list of questions to guide you in evaluating each land listing you come across. Asking these questions can help you avoid wasting time on listings that are not worth visiting. It can also help you avoid paying way too much for your land purchase. Surveying Ask if the property for sale has already been surveyed. A land survey establishes the boundaries of a property,so it is very important that this is done before you make a purchase. Purchasing land that has already been surveyed can help you avoid legal disputes over who can access the property. If you plan to borrow money to finance your purchase,the bank will also require a survey to make sure that the deed is up to date. A survey can also help confirm the current value of the land. Land Access Consider land access before you make a purchase decision. Check to make sure all of the roads leading to the property are adequate. These roads should also be able to handle large vehicles so that your contractor can deliver the building materials when you are ready to build your home. Ask about who is responsible for maintaining the roads. If you are responsible for maintaining the road,it will add to your total expenses. Title Information Always ask if the land has a clear title,as this will make it easier for you to make a purchase. If the title is not clear,the original owner may have to clear up any liens or holds on it before legally transferring ownership to you. An experienced Malibu real estate agent can tell you more about titles and explain why title insurance is necessary when purchasing a property with bank financing. Sanitation Ask if the lot is served by a public sewer system or if septic system installation is necessary. If you need to connect to a sewer system,contact the sewer authority to find information on all fees and costs. If you need to install a septic system,you may need to contact a soils engineering firm for a percolation report. These costs can significantly increase the total cost of buying a piece of land. Restrictions It is important to ask about any restrictions that may be in place. Make sure you find out if a homeowners association has jurisdiction over the lot. You can find this information in the title report or by asking your real estate agent. If the lot is under the control of a HOA,there may be covenant or restrictions in place that you must follow if you buy the land. You should also ask your real estate agent about any deed restrictions on the lot. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Some buyers have a hard time finding even one listing that they like,so it seems like a happy occasion when you find multiple listings that meet your needs. However,this can quickly turn into a frustrating situation,as you may find it difficult to make a choice based on all of the available options. There are several techniques you can use to compare several homes and figure out which one is right for you. Use them to get the best deal possible. Meet the Neighbors If you end up with bad neighbors,it does not really matter if the home is beautiful or if it is close to the beach. If you plan to spend the next several decades in one of these Malibu homes for sale,you need to live near neighbors you can trust. You do not have to be best friends,but you should not have to put up with neighbors that do not keep their property neat or neighbors who regularly disturb your enjoyment of your home. If possible,meet the neighbors that surround your favorite listings. Ask them how long they have been in the neighborhood and talk about your shared interests. This can help you get a good sense of which neighbors would be most compatible with your lifestyle. Read Reports Comparative market analysis reports contain valuable information that you can use to make a buying decision. These detailed reports give information about the sale prices of similar homes in the same neighborhood. You will not find pricing information for a 5,000 square-foot home with pricing for a 1,000 square-foot condo since these are not similar,but you will find information for very similar listings. Read these reports to find out if sellers are asking too much for their properties. You can use these reports to narrow down your list of suitable properties. Visualization Savvy sellers are now using home staging to help buyers figure out if they can see themselves building a life in their homes. You can use a similar technique to determine if a home would fit your lifestyle. Look at photos of each home. Can you see yourself eating breakfast in the kitchen or reading the newspaper in the den? Do you think you will be able to get up and down all of those steps when you are older? Does the home have enough room for all of your furniture and personal belongings? Using this technique can help you eliminate homes that just do not meet your needs. Once you have narrowed down your list of options,you can work with a Malibu real estate agent to find additional information to help you make your final buying decision. In addition to helping you find this information,an experienced agent can use his or her considerable marketing expertise to help you negotiate a good deal. This is just one of the ways a real estate agent can help you save a lot of time and money. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Point Dume juts into the Pacific Ocean,making it one of the best locations in Malibu. This gorgeous bluff also forms one end of the Santa Monica Bay and offers stunning views of Santa Catalina Island and Palos Verdes Peninsula. There are several benefits to buying Malibu Point Dume homes,especially if you can find a home with the best views available. Learn why this is such a coveted area of Malibu and find out more about the history of this area. Outdoor Activities Outdoor enthusiasts will love this Malibu real estate area,as it offers plenty of opportunities for fun in the sun. Rock climbers can enjoy some of the single-pitch climbing routes,which appeal to beginning climbers as well as those who have been climbing for years. Its beach location makes Point Dume ideal for walking,running,swimming and surfing. One tip of this area was designated a part of the California State Preserve,making it even more enticing for those who love to spend time outdoors. Historical Significance This area was originally named for Francisco Dumetz,but it was misspelled on the map. The misspelling stuck,cementing Point Dume’s place in the history books. After World War II ended,settlers planted flowers and trees next to their homesteads,making this a beautiful part of California. These originals homes were replaced by mansions that have sweeping views of the beach and the ocean,making this an expensive area of Malibu. Tourism The travel and tourism industry plays a big role in the local economy. This site has served as a filming location for several popular blockbusters,making Point Dume a favorite stop for film buffs from all over the country. This area also attracts visitors who are interested in lounging on one of the most beautiful beaches in the world. Local bed and breakfasts cater to these travelers and contribute to the economy of this stunning region. Luxury If you are interested in living in the lap of luxury,ask your Malibu real estate agent to show you any available Point Dume homes. After the early homesteads were replaced by mansions,the value of real estate in this area increased dramatically. If you have always dreamed of living within walking distance to the Pacific Ocean or wanted to spend your evenings watching the sun set over the beach,this area might be ideal for your family. Options Because Point Dume is such an expensive area,there are a number of options available for those who want to buy a home. Check out several properties to compare the views offered by each house and find out what amenities are available to you. Ask your real estate agent to narrow down the possibilities according to all of your criteria. The final list of options may be small,but each home on the list will fit your specific needs perfectly. If you want to experience true luxury living and go to the beach every day,consider buying a home in Point Dume. You will cherish the experience for years to come. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.
Malibu banked owned properties are properties that have been repossessed by banks because borrowers failed to make their mortgage payments on time. Once a bank repossesses one of these homes,the home is not making the bank any money. This means that bank executives and asset managers want to sell the home as quickly as possible. Because they are so motivated to sell,buyers may be able to purchase Malibu homes for sale for as little as half of the true market value. However,dealing with bank-owned properties also has some drawbacks. Learn about the major benefits and drawbacks before deciding if this type of sale is right for you. Pricing The major benefit of buying a bank-owned property is that you may be able to pay a lot less than the home is actually worth. Banks want to recoup the loan money they gave to the original borrower,so if a borrower paid off a substantial amount of the loan before defaulting,the bank may be willing to accept less than market value just to get the property off of its books. Unfortunately,not every bank-owned property is listed way below market value. Some are listed only slightly below market value and others are actually listed at market value. This makes it very important that you discuss the deal with your Malibu real estate agent and determine if it will actually help you or hurt you. Process Buying a bank-owned property is different than buying a home from its owner. Instead of dealing directly with the bank,you have to work with an asset manager. Banks appoint asset managers to handle these bank-owned properties and get the best sales prices for them. You need to deal with an asset manager when gathering information and when making an offer. The bank manager has to get approval from the bank before agreeing to sell you the property. This complicated process generates a lot of paperwork and may increase the amount of time it takes to complete the transaction. Risks When borrowers fall behind on their mortgage payments,it is possible that they have also run out of money to maintain their homes properly or pay their bills. This means that the bank-owned home that looks nice on the outside may be a shambles inside. You may find that it would cost you a significant amount of money to make needed repairs. In some cases,you might find that the previous owners left their belongings beyond. If this is the case,you will need to sell or dispose of the items. This takes extra time and effort,so be sure the property is worth it before you make the final deal. Buying bank-owned properties can be a great way to start investing in the real estate marketing,but the process can also be filled with obstacles. If you want to do this type of real estate deal,pick an experienced agent who can help you avoid losing money. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.
The process of buying Malibu land can be a lengthy one,as it often takes quite a while to find the perfect piece of property. There are many considerations to keep in mind when looking for a piece of land,not the least of which is whether the land has been properly surveyed and tested. If you do not want to deal with the potential hassle of buying a piece of land,you have many other investment options available. Contact a Malibu real estate agent to learn more about each option and get information that can help you decide which option is right for you. Houses If the prospect of waiting more than a year for a contractor to build your house does not appeal to you,then buying an existing home can help you realize your dream of home ownership in a short amount of time. There are so many Malibu homes for sale that you can create a list of must-haves and ask your real estate agent to find listings that meet your specific criteria. If you want no fewer than two bathrooms,your agent can help you find this type of home. Now is a great time to own a home because the economic downturn has made it difficult for sellers to get full price for their homes. Interest rates are also the lowest they have been in quite some time,which means it might be very affordable for you to buy a home instead of rent. Rentals Malibu rentals combine the best of both worlds. You can find an attractive rental in an upscale neighborhood without worrying about property taxes or property maintenance. Landlords typically take care of building maintenance and repairs,so if you do not want the hassle of these responsibilities,you might make an excellent renter. One thing to watch out for is higher rental prices. Because so many people have lost their homes to foreclosure,rental rates are higher than ever. This means landlords have a lot of leeway when it comes to deciding how much rent to charge and which restrictions to include in their lease agreements. Condos Condos are an ideal option for those who want some of the benefits of ownership without the responsibility of property maintenance. Malibu has a number of condo properties with beautiful units that are perfect for singles or couples. When you buy a condo,you have to follow the rules of your condo association,so keep this in mind when deciding which type of home is right for you. Condo complexes have staff members responsible for landscaping,parking lot maintenance and maintenance of all common areas,so this living situation is ideal for those who have busy work schedules or spend a lot of time out of town and do not have time to be mowing the lawn. If you are not ready to buy a piece of land,you have several other options. This is one of the major benefits of shopping the Malibu real estate market. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.
Instead of buying Malibu land for sale in the hope of developing it in the future,there is a way you can almost immediately generate an income from your investment. Buying rental properties allows you to make an investment that can produce thousands of dollars in monthly income. However,this is not something you should rush into without knowing the facts. Managing a rental property can take up a significant amount of your time. If you do not find the right tenants,your income could also be less than you anticipated. Learn more about rental property investing before you take the plunge. Considering Your Options Before you even learn how to pick an income-producing property,you need to decide if this is really the type of investment you want to make. Once you become a landlord,you will be responsible for fielding tenant complaints,chasing down late payments,making repairs,paying property taxes and performing other tasks. If you do not relish the thought of all of these responsibilities,another type of investment might be better for you. If you are up for the challenge,or you are willing to hire a property management company to help you with these tasks,buying a rental property might pay off for you. Evaluating a Property You need to evaluate each income-producing property in the Malibu real estate market before you can narrow your list down to just a few properties. One of the most important things to consider is a property’s rent roll,which is the total amount of rent collected each month. If a property has 10 units that rent for $1,500 each,the monthly rent roll is $15,000. However,you also need to ask how many units in each building are filled. If only three of the 10 units have tenants,you might want to move on in search of a different property. Ask to see copies of past utility bills and tax bills so you can get an accurate estimate of your potential expenses. Making the Transition Once you make a purchase,you need to make your transition into the role of a landlord as smooth as possible. If you only have a few units to manage,try to meet all of your tenants. Introduce yourself and let tenants know what they should do if they encounter problems. If you have several vacant units,start marketing them so that you can stop missing out on the income they could produce. If you find this transition overwhelming,consider hiring a Malibu real estate property management firm. An experienced property manager can help you find new tenants,collect rent,enforce your lease agreements,start eviction proceedings and keep your rental property in good condition. You are the only one who can decide if investing in an income-producing property is right for you. Before making a decision,review all of the available information and ask your attorney or financial advisor any questions you may have about this type of investing. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Top 10 Reasons for Buying Malibu Real Estate The affluent Los Angeles County community of Malibu has just over 12,000 residents,making it the ideal location for starting an entertainment career,falling in love or raising a family. With plenty of parks,beaches and cultural centers,Malibu offers ample opportunities for entertainment and outdoor recreation. Whether you’re looking for a home or interested in purchasing an investment property,there are plenty of reasons to buy Malibu real estate. Convenient Location Malibu is conveniently located just a short distance from the Pacific Coast Highway,making it easy to get to Santa Barbara,Monterey and coastline towns in Oregon and Washington. For those who have to commute for work,this is an added bonus of living in the beautiful town. Well-Maintained Homes Malibu is an affluent neighborhood filled with people who take pride in their homes. Malibu homes for sale are usually very well maintained and owners often make improvements to their properties. This means buyers can find move-in ready homes that need no repairs,reducing the cost of home ownership and making the home buying process less stressful. Listing Variety The dazzling location makes Malibu a prime real estate market for those interested in home ownership. However,not every buyer is looking for the same type of home or the same amenities. Fortunately,there are single family homes,Malibu condos for sale,mixed use property and other types of listings available. Beach Access Warm sun,sandy beaches and salty air are a regular part of life in Malibu,which is home to Zuma Beach and Surfrider Beach. These beaches regularly draw large crowds of surfers,sunbathers and swimmers. Local Parks Malibu residents enjoy convenient access to the Malibu Bluffs Recreation Area,a 90-acre preserve nestled between Malibu Road and the Pacific Coast Highway. This area surrounds Malibu Bluffs Community Park,a 10-acre park with soccer fields,baseball diamonds and a community center. Stunning Views Many Malibu homes for sale have stunning views of the beaches and bluffs surrounding the area. Some homes have views of the San Fernando Valley,Santa Monica Mountains,Santa Catalina Island and Santa Monica Bay. These local mountains offer plenty of opportunities for hiking,biking,cycling and sightseeing. Education Malibu residents are served by the Santa Monica-Malibu Unified School District,which has three elementary schools and a high school. Malibu is also home to several private schools and Pepperdine University. Nearby Santa Monica College is also a convenient education option for Malibu residents. Arts and Culture Malibu has many opportunities for residents and visitors to attend cultural events and art exhibits. The J. Paul Getty Museum features sculptures,paintings and artifacts from the Greeks,Estruscans and Romans. This town is also home to the Malibu Garden Club,Malibu Art Association and local theater groups. Film History Anyone who wants to live in a town at the heart of the entertainment history will love Malibu,which has served as a filming location for dozens of movies and TV shows. Movies and TV shows filmed in Malibu include Two and a Half Men,Gidget,The Rockford Files,Zoey 101,Iron Man and MTV Beach House. Special Events Adults and children alike will enjoy the many special events held in Malibu throughout the year. Treasured annual events include the Malibu Arts Festival,Malibu Nautica Triathlon,Malibu International Film Festival and Malibu International Marathon. Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Tips for Renting Out a Malibu Beach Home Malibu beach homes make attractive rental opportunities for both landlords and renters. Properties in the affluent area command high rents and generally attract better tenants than lower-priced areas in other parts of California. They also offer stunning ocean and bluff views,easy access to the highway and many opportunities for socializing on the beach. Before renting out a Malibu beach home,it’s important to take several steps to protect yourself against property damage and non-payment of rent. Lease Terms Unlike someone dealing with Malibu homes for sale or Malibu condos for sale,landlords have to worry about drafting leases that protect their interests and spell out exactly what tenants can and cannot do. Work with an experienced landlord/tenant attorney to draft a lease that details how much rent you will charge,when rent is due,what the fees and penalties are for late rent payments,what changes tenants may make to the property and related details. If you do not allow pets,make that clear in the lease. If you do allow pets,make sure the lease says that tenants are liable for any damage caused by their animals. Having a lease agreement is one of the most important steps you can take as a landlord. Tenant Screening Many landlords make the mistake of taking on new tenants without screening them thoroughly. Although this might reduce the amount of time a unit is vacant,it could lead to problems with late rent and property damage down the road. Landlords should always screen their tenants by asking for references or conducting credit and background checks. Running a credit check can tell you if a tenant has a history of paying his or her bills on time and can also reveal any civil judgments or previous evictions. Lease Enforcement It is important that you enforce the terms of the lease so that tenants do not get away with paying their rent late,damaging the property or breaking the rules. If a lease says that you will charge a $10 per day late fee for all late rent payments,make sure you charge this fee accordingly. If a tenant’s pet damages the property,make sure the tenant has the damage repaired or reimburses you for any repairs. Regularly inspecting the property and enforcing the lease can help you avoid costly problems in the future. Maintenance and Repairs Malibu landlords should keep their properties in good condition and make needed repairs as soon as possible. Good tenants that pay on time do not want to live in rentals that have plumbing problems,broken appliances and other issues. Repairing these issues quickly can keep good tenants in your rentals and help you avoid the hassle of trying to find replacement tenants. If you own several properties,consider hiring a building manager or maintenance supervisor to make repairs at each one. In some cases,you may even be able to offer the building manager free rent in lieu of payment for his or her services. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Tips for Marketing a Property for Sale Malibu real estate investors have to work hard to market their properties and ensure that they make a profit. While there is no shortage of investment opportunities in this wealthy area,investors need to appeal to keep their properties in excellent condition and using creative market tactics to get the attention of potential buyers. Use these tips to attract buyers and reduce the amount of time it takes to sell your investment property. Repairs and Maintenance Buyers are on the lookout for any problems that would make them wary of buying a property. They are also looking for ways to get a lower sale price. Property owners need to repair any damage immediately and make sure the property is in excellent shape. Maintaining the grass,trees,shrubs and flowers is the best way to showcase the exterior of the property. Since potential buyers may see the mailbox before they even see the house,make sure it is in good repair. Make sure all exterior lights are in working order,especially if buyers will be visiting the property in the evening. Make it easy for potential buyers to find the property by making sure house numbers are large enough to be seen from the road. Home Staging If you have Malibu condos for sale or Malibu beach homes that you want to sell,you need to make them look livable. If you stage a home properly,you can help potential buyers imagine living there. Paint the walls in neutral colors and use understated accent colors to add flair without overwhelming buyers. Play soft music during open houses to get buyers in a relaxed mood. Instead of using cloying chemical air fresheners,bake a cake or pie so that the house smells wonderful when buyers enter. All interior areas should be clean,especially the bathroom and the kitchen. Marketing Tactics Putting ads in newspapers and waiting for buyers to show up is no longer the best way to market a property. Taking good photographs should be one of your main concerns,as many buyers now use online listing sites to check out properties before they commit to attending an open house. If you don’t post any pictures,buyers may wonder what you are trying to hide. Avoid taking pictures in poor lighting conditions,as bad lighting can mask the selling points of a home. If you know other Malibu investors,work together to trade leads and tips for making sales. Have regular open houses to maintain a high level of interest in the property. When you have an open house scheduled,run ads and mark the property with signs and large balloons. Get to know several real estate agents and invite them to attend a luncheon or dinner at the home. Color flyers with pictures and a discount coupon can also attract buyers to your property. Following these tips will help you prepare your property for sale and attract the best potential buyers to your open houses and other special events. Although these tactics take some time and money,the opportunity to make a sale is well worth the investment. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Tips for Finding a Malibu Rental
The California real estate market has something for everyone,whether you’re looking to buy Malibu bank owned homes or rent an apartment on the beach. Those interested in renting have many options,but it is important that renters research each listing thoroughly and make sure that they can live with the terms of any lease presented by a potential landlord. Follow these tips for making the rental process run as smoothly as possible. Considerations Before you even look at rental listings,sit down and make a list of all the features and amenities you must have in an apartment. If you hate carrying heavy baskets of laundry to the laundromat,look for an apartment that has a laundry room or a washer and dryer in the unit. If you plan to take a dog with you,make sure the apartment building has enough outdoor space for regular walks. If you have more than one vehicle,you need an apartment building with a large lot or assigned on-street parking spaces. Writing down what you want will help you find the best rental to meet your needs. Research Once you find several suitable Malibu real estate listings,make note of their locations and conduct research to find out as much as you can about the buildings and their owners. If an apartment building is owned by a large investment group or run by a property management company,you may be able to find online reviews. Read these reviews carefully and make note of any consistent problems. If only one person out of 100 reviewers has a complaint,it could be that the person is a bad tenant and was evicted from the building. If 75 people out of 100 have the same complaint,you might want to avoid renting in that particular building. Building Tours Once you narrow down your list of prospective Malibu beach homes,you must visit each of them to determine if they are right for you. Look in hallways,lobbies and other common areas to see if they are well-maintained. If they are dirty or in need of repair,the landlord may not take good care of the building’s apartment units either. Once you enter an apartment,note any damage to the walls,fixtures and furniture. Check the shower head,sink faucet,bathtub faucet and toilet to make sure they work properly. Make sure the refrigerator,stove,washer,dryer and any other provided appliances work properly. Once you have completed your tour of each building,you can use your notes to make a final decision. Moving In When you move into your new apartment,one of the first things you should do is take photos. These photos can help document damage that existed before you moved in so that you do not get charged for repairs or replacements. Make sure the photos are time-stamped and dated so you can prove when they were taken,if necessary. Keep these photos and your signed lease in a fireproof safe or a bank safe deposit box so that they are safe in case of fire,flood or other damage. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Legal Considerations for Buying and Renting Malibu Homes The real estate marketing in Malibu is a competitive one,pitting renters and buyers against each other in the race to make the best offer. Before buying Malibu land for sale or signing the lease on an apartment,however,buyers and renters need to protect themselves. There are several legal considerations you must be aware of if you plan to rent or buy a property in Malibu. Insurance If you have to get a mortgage to buy a house or condo,the lender will insist that you carry an insurance policy on your new home. This type of insurance policy can reimburse you for the loss of damaged property or cover you in the event that an accident occurs in your home. You should also consider purchasing special coverage for natural disasters since Malibu has had a number of wildfires and is in earthquake-prone California. Renters can also purchase insurance to cover their assets,but rental insurance is different from home insurance. It insures the contents of your apartment and may cover you in the event that someone sustains an injury because of your actions. However,your landlord should maintain property insurance for the building you live in,as rental insurance will not cover damage to common areas. Title insurance is another important consideration for anyone buying Malibu beach homes or condos. When you purchase a property,you need to make sure that the seller has a clear title. Purchasing title insurance protects you in case the seller’s title is not good. Your title insurance company will issue a title insurance commitment that details who owns the property,whether there are any property use restrictions and whether there are any liens against the property. An experienced attorney should review this document before closing. Contract Law Working with an experienced real estate agent can help you avoid some of the hassles of renting or buying a home. The field of real estate law relies heavily on contract law to make sure that both buyers and sellers are protected. A real estate contract is used if you are buying or exchanging real estate with another property. Leases,also known as rental contracts,are used if you rent a property from a landlord. Both contracts are usually bilateral,which means they are agreed to by both parties. A contract or lease should have several pieces of information in writing. They include the parties agreeing to the contract,the address and description of the property,the purchase price or rental fee and signatures of both parties. These contracts are void if they involve minors or those deemed incompetent due to mental impairment or drug use. Offer to Purchase If your interest is in Malibu homes for sale,you will need to submit an offer to purchase once you find the home of your dreams. This offer states the price you are willing to pay for the house and details other terms of the transaction. The offer to buy a home is usually contingent upon the house passing a professional inspection and the buyer being able to secure financing. Other considerations include land surveys,well inspections and septic inspections. If the home inspection yields any property defects,the buyer and seller can negotiate on repairs or a reduction if the selling price. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Comparative market analysis reports,often referred to as “comps” in the Malibu real estate industry,are a valuable resource for sellers. These reports contain information about active real estate listings,pending listings and homes sold within the past six months. Comparative market analysis reports also contain information about listings that were withdrawn,expired or canceled. A seller can use this information to determine a sale price that is in line with other home sales in the immediate area. Using comp reports properly can also reduce the amount of time it takes to sell a home. Comparable Homes Comp reports do not contain information about all of the Malibu homes for sale near a seller’s home. Instead,these reports contain information about comparable homes. These are homes that are approximately the same age and have the same upgrades and amenities. Comparable homes should also be in similar condition. Location is another consideration for sellers who want to use these reports to their advantage. If your home faces the side of another building,you cannot price it like one of the Malibu beach homes that offer stunning views. When pricing your home,it is important to look at the prices of these comparable homes to determine what buyers are willing to pay. Once you receive your comparative market analysis report,you will work with your real estate agent to determine the best asking price for your home. Your agent will help you determine a price by reviewing all of the information in the CMA and determining which recent sales and active listings most closely match your home’s condition,amenities,upgrades and location. Looking at expired and canceled listings is another good way to determine an asking price. Some listings expire because they are priced too high and never generate any interest from buyers. You can look at these listings to determine which prices are too high for your area. Improvements and Additions If you are thinking about making improvements to your home to get it ready for sale,a comp report can also help determine which improvements to make and how to avoid increasing the value of your home beyond what other homes in the market are worth. If you make extensive improvements or add an expensive addition to your home,it could increase its value so much that you are priced out of the market. Buyer Benefits Comparative market analysis reports not only benefit sellers,they also benefit buyers. Without the information in a comp report,a buyer has no way to know what a property is really worth. The CMA can tell the buyer about recent sales of similar homes and help the buyer and his real estate agent determine how much to offer for a home. Comparative market analysis reports can be as short as two pages or as long as 40 pages. Either way,they contain valuable information that sellers should not ignore. Without using CMA reports,sellers are at a distinct disadvantage in the luxury Malibu real estate market. Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. For some people,buying a condo has distinct advantages over buying a traditional home. Many Malibu condos for sale have amenities such as beach access,swimming pools,landscaping services and included utilities that traditional homes just don’t offer. Anyone considering a condo purchase should keep the following in mind. Condo Amenities Extra amenities can make life much easier and more convenient for condo buyers. Before buying a condo,ask how many parking spaces come with the property. If you plan to live with a spouse or significant other,a condo with just one parking space may not meet your needs. When you take a tour of the property,check the condition of any common areas. Look for worn carpeting,flooring defects,poor lighting,lack of maintenance and other issues. These problems can decrease the value of a condo and may even pose a safety hazard to residents. Condo Location Location is one of the most important considerations when buying real estate. The Malibu real estate market is no exception. You should determine how long the commute will be from your condo to your workplace. If you have kids,the condo should be a reasonable distance away from their school. You should also consider how far the condo is from pharmacies,grocery stories,entertainment venues,parks,hospitals and banks. Assessing Condo Units Once you’ve determined that the building is in a suitable location and has your desired amenities,you need to look at several different units to determine which one is right for you. Ask the condo representative to look at the floor plans for each available unit,as some buildings offer several different layouts. Choose the layout that has enough room for you to live comfortably. Check each unit to see if the previous owner made improvements and maintained the unit properly. If cleaning or improvements are needed,keep this in mind when making an offer. View is another important consideration for condo buyers. If the condo has a great view,but it’s on the second or third floor of the building,future construction could obstruct the view. Benefits of Condo Ownership Owning a condo has benefits similar to those enjoyed by people who own Malibu beach homes. Rental fees can change unpredictably,increasing the cost of living for those who rent apartments and single family homes. Some changes can occur in the costs of condo ownership,especially if property taxes or insurance fees increase,but these changes are usually gradual. If you maintain your condo properly,it may increase in value over time. You will benefit from this appreciation if you decide to sell the condo in the future. Owning a condo also has tax advantages that can reduce your annual tax bill. As a condo owner,you can deduct the amount of interest paid on your mortgage from your taxes. You can also deduct the amount of money you paid for property taxes. With all of the benefits available to condo owners,purchasing a condo unit can be a smart investment. Working with an experienced real estate agent can help you find the best condo for your needs and buy it for a fair price. Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Today’s home sellers have a hard row to hoe,as my Mom would say. Home values have dropped,the market is flooded with competition and even if a buyer does come along,a recor  d high number of deals fall through. On top of that,they face the age-old conundrum of having two seemingly conflicting aims:they want to get their homes sold,fast,but also want –and need –to squeeze every single possible dollar out of it.While it’s tempting to price your place on the high side and ‘test the market’ or ‘negotiate down,’ overpricing your home can actually deter buyers,cause your home to lag on the market and eventually even expose you to the risk of being perceived as desperate and receiving lowball offers.Here are 5 ‘cures’ to the temptation to overprice your home,all of which can help you max out the chance that your home will sell. 1. Check the Comps! “Comps” is real estate lingo for comparable sales –the nearby,similar homes that have recently sold. You might think that your taste level,aesthetic style and home maintenance practices are vastly superior to those of your neighbors –and you might be right. But this will be the single largest purchase your home’s eventual buyer will ever make,and trust me –they will be doing the research. The small contingent of urgent and qualified buyers who are active on today’s market do not want to overpay for a home,and most will view your home as overpriced and not worth the hassle (or the haggle) if it is out of whack with the recent sales prices of similar homes. Similarly,appraisers will use these numbers when figuring out your home’s value. Even if you do get an offer at a higher-than-justified price,if the buyer’s appraiser finds that your home is overvalued compared to other nearby recent sales,it can cause major delays in your buyer’s mortgage process –or derail it altogether. Work with your agent to find and evaluate the recent sales in the area,and to ensure that your home’s list price makes sense vis-a-vis the comps. 2. Get inside the minds of the local home buyers. The vast majority of buyers –over 90 percent –start their house huntinhg online. And what most of them do is type in a price range,a range of bedrooms and bathrooms and a geographic area,then spend dozens of obsessive hours perusing hundreds of listings. Given the flooded market and buyers’ busy lives,many will screen your home off their interest list in a New York minute if it seems overpriced from its online listing. If that one-inch picture and the number of beds,baths and square feet either (a) doesn’t make it into their search results because the price is so much higher than what most local buyers want to spend on a home with those criteria,or (b) seems underwhelming,for the price,compared to the other online listings of similar homes,prospective buyers will never even make it into your home,and all your stunning staging and crave-able curb appeal will never have the opportunity to work their magic. Local agents have an inside track on what local buyers care about and what they will and will not spend. Talk to your agent about it,but don’t forget to actually listen to and consider what your agent has to say! If you don’t trust what an agent is telling you about where you should list your home,talk to several agents –if the consensus is a recommended list price range lower than what you had in mind,that’s a sign you should reconsider. Also,search for similar homes to yours on Trulia,to see how it would stack up against similar listings online at the price range you have in mind. That’s where local prospective buyers will see it (and screen it in or out) first. 3. Visit competing Open Houses. Buyers do not shop for homes in a vacuum. They’re out there looking at dozens of homes –or more –to make sure they’re (a) getting the best deal possible,and (b) not missing ‘the one.’ So,while viewing a thumbnail image of your competition and seeing the list prices of other homes online is informative,it is even more useful to walk through the actual properties with which your home is competing,in living color. Before you put your home on the market,take a few hours and visit nearby Open Houses. This exercise is the most vivid way to get a reality check about what you’re up against and what your home’s strengths and weaknesses are compared with the other homes buyers will see,which will go a long way in getting you to the right asking price. Even if you are unpleasantly surprised at how nice the neighboring homes are at low prices,taking this information in before you list your home is much less painful than waiting months for the market to give you this education (in the form of no or uber-low offers). 4. Get an inspection –in advance. Home buyers have long used the home inspection as a negotiating tool to get the seller to come down on the sale price mid-stream. Get ahead of the game by getting your own inspection(s) –talk with your agent about which ones are appropriate – and getting the skinny on your home’s condition before you list it. Keep in mind that you will likely need to provide any written professional inspections you obtain before listing your home to the buyer under your state’s real estate disclosure laws. You might be able to repair some things at relatively low cost and include the recent improvements in your marketing. Alternatively,you can set and negotiate pricing based on any condition issues or needed repairs you want to pass down to the buyer. This empowers you to get to a final price that aligns with market conditions and the condition of your home without taking massive mid-escrow hits on pricing. It also empowers you to offer a discount for needed fixes up front,when the price break has the most power to help attract bargain-seeking buyers. 5. When in doubt,go low. An overpriced home,in most cases,will cause a lot more problems in your real estate journey than an underpriced one. Think about it:an overpriced home just sits on the market with little or no buyer interest until the seller cuts the price. And many interested buyers just sit,waiting for that price cut,seeing it as a cue to make an even lower offer. Now,consider the opposite end of the pricing spectrum:you start with a lower price than you want,but one that is supported by the comps in your market –or even goes a tad bit lower than recent homes have sold for. Lots of buyers are attracted to your house,in part because it looks like a great value for the price. You end up with multiple offers,which gives you the upper hand in negotiating a higher price. The moral:if you aren’t sure about what price to place on your home,go a little bit lower than the recent comps sold for. Insiders know from experience that you’ll sell your home faster this way –and at a better price than if you overprice it out of the gate. These steps can help you get out of your own way,get a bird’s eye view on the market and see your home as buyers will see it. And that’s a reality check that can make the difference between selling your home and not. via trulia.com Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. David Stevens,president and CEO of the Mortgage Bankers Association,is bullish on homeownership.
Stevens —a former Long &Foster Cos. executive who stepped down as head the Federal Housing Administration (FHA) in March —thinks there’s sunshine on the horizon and it may be here sooner than anyone realizes.
1. Markets are stabilizing According to Stevens,the real delinquency rate is down from 10 percent in the second of quarter of 2010 to 8.5 percent in the second quarter of 2011. New foreclosure starts are also down. In addition,three of the hardest-hit states for foreclosures —Florida,Nevada and Arizona —are also stabilizing. Furthermore,for standard fixed-rate loans,the delinquency rate was 6 percent in 2010. That number has dropped to 5 percent in 2011. As Stevens put it,“This is very close to being in ‘normal’territory.”
2. Many markets are experiencing real home-price growth The problems with negative equity and declining prices are actually concentrated in a few key states. For example,24 percent of the foreclosure activity is concentrated in Florida,and 50 percent of the foreclosure activity is in five key states. Stevens says that people who quote declines in the average price of homes nationally are using “dangerous data,”since each market is different.
According to Stevens,price declines are not a national problem. “The fundamentals are better than ever.”In fact,if you remove the foreclosure properties from the equation,non-distressed properties have actually experienced an increase in prices.
The challenge is consumer sentiment. People are scared to purchase now because they don’t know whether they will have a job. Nevertheless,for those who are willing to purchase in this market,the opportunity has never been greater. 3. The best time ever to buy Many people view the cost of homeownership based exclusively on the price they pay for the property. A more accurate way to judge the cost is how much you paid plus the cost of the interest that you pay over the term of the loan. To illustrate this point,assume that a buyer is going to purchase a home with a $200,000 loan. The interest rate is 4 percent. Many buyers are worried about prices falling further. If the prices were to decrease another 5 percent,that means that the property would decline in value by approximately $10,000.
If interest rates increase from 4 percent to 6 percent,the cost of waiting is extremely high. Over the life of a 30-year loan,the borrower will pay $87,937 more in additional interest. The cost of owning that home costs a whopping $77,937 more than the apparent $10,000 they might have saved by buying at the bottom of the market.
4. The coming home shortage
Stevens says that there are two primary factors that will contribute to a home shortage in the not-too-distant future. The first of these factors is the size of Generation Y (those born between 1977 and 1994),which is estimated to be approximately 80 million,or 25 percent of the U.S. population. They are now entering their prime time for starting their careers,their families,and for buying a home.
The second variable is supply.. There has been virtually no new construction,despite the predicted explosion in population growth. To illustrate the severity of this problem,the 2010 census put the U.S. population at approximately 309 million. By 2050,the prediction is that the U.S. population will be 439 million. That’s an increase of 130 million people in just 40 years. Regardless of whether they own or rent,they will still need housing.
5. Getting from here to there
Stevens believes the major challenges we are facing in the short term are job creation and dealing with the tight credit situation. The government-sponsored enterprises of Fannie Mae and Freddie Mac,as well as FHA,have tightened lending guidelines to such a degree that is extremely difficult for even well-qualified buyers to obtain a loan.
Furthermore,the tremendous amount of new regulation creates additional problems. For example,the Dodd-Frank bill alone adds more than 100 new regulations. Each of these regulations creates additional risk resulting in higher costs for the both the borrower and the lender. Lenders have to alter loan documents,create new systems,and retrain their people to handle these new requirements. Furthermore,the effect of “piling on”more and more regulations increases the cost to consumers,as lenders must defend themselves against additional litigation risks.
According to Stevens,real estate is now at bargain levels that we will never see again in our lifetimes. If there were ever a time to buy a home,that time is now.
If you are looking to buy or sell a home,your Malibu real estate agent will become one of the most valuable members of your team. An experienced agent can help you find a hope that meets your needs and your price range. An agent can also help you avoid buying a house that needs costly repairs,which can help you save money in the long run. Because there are so many agents in the area,it might be difficult to choose a Malibu real estate agent. Use these tips to screen agents and select the best one for your needs. Experience In the real estate industry,experience counts. Experienced real estate agents can help you find Malibu land for sale,Malibu banked owned properties,condominiums or luxury homes that are all within your price range. An experienced agent knows how to avoid some of the most common pitfalls of buying a property,which can save you tens of thousands of dollars. Someone with experience is also more likely to have valuable industry contacts that can make the process of buying your home less stressful. Recommendations If you do not know any real estate agents,ask a friend or colleague to recommend someone they have worked with in the past. A personal recommendation carries a lot of weight,as the people close to you want you to have a positive experience. Personal contacts are more likely to reveal any problems they had working with their agents,so recommendations can give you more information than advertisements or online reviews from people you have never met. If none of your friends or family members have experience working with a Malibu Realtor,ask your attorney or insurance agent for a recommendation. People in the legal and insurance fields often have real estate contacts,making this a viable option for gathering information. Meetings You should meet with each agent on your list to learn more about their experience and the results they have gotten for their clients. Pay close attention to what happens before,during and after the meeting. Note whether the agent is on time or if he keeps you waiting for a few minutes. Ask yourself if the agent seems knowledgeable about your needs or if she does not seem to know the area very well. Once you have met with each agent,you will have additional information that can help you make a decision. Reviewing Information Once you have gathered all of the necessary information,compare each agent in terms of experience,professionalism,knowledge of your target area and any other criteria you believe are important. You may even want to ask someone knowledgeable about the industry to help you review all of the information available. Use this information to make a final decision about which agent to hire. Choosing a real estate agent is one of the most important decisions you can make when buying a home. Your agent can help you avoid bad deals that could have disastrous results,so it is important to consider all of the information carefully. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Making smart decisions when buying real estate,or for any large purchase for that matter,requires educating oneself on the process and risks and then taking the time to evaluate,analyze and mitigate those risks. The final analysis should then be used to make the best decision possible. When buying real estate,far too many Americans fail to take even the most basic levels of precaution by doing the proper due diligence. This is troubling because real estate is typically the largest and riskiest asset someone will ever buy. We’ve all learned this many times over in the last few years via the housing crisis,and it will continue happening until people better educate themselves on the real estate process and mitigate their risks. So what issues should a buyer should consider? Most of the items are not complicated,however running through the important tasks when you are actually buying property is time consuming and tedious. Realize if you fail to do the hard work involved to protect yourself,and something goes wrong,you only have yourself to blame. Doing the proper due diligence to lower your risk is the responsibility of you — the homeowner making the mortgage payment. Note:There is no risk-free real estate. Even the most diligent of buyers who do all the proper due diligence they know can lose money on some deals due to a variety of unknown,unanticipated,underestimated reasons;or simply bad luck. The main tasks to do when purchasing a property: (there may be more depending on your situation.) - Purchasing process – Understanding the overall purchasing process
- Cash flows and returns – Penciling out an investment property cash flows and how much you will earn on your money
- Rent vs. own – Doing a financial analysis to see if purchasing makes sense for you
- Tax benefits picture – Understanding the tax benefits of owning real estate
- Mortgage financing – Properly evaluating mortgage financing options and offers
- Homeowners associations – Reviewing the homeowners association finances,operations and any litigation situation
- Home inspection – Using the home inspection information to make better decisions
- Dwelling and liability insurance – Do you have the proper type and amount of insurance in place
- Title insurance and escrow – Did you read through your title insurance policy and all the sales and escrow documents and ask questions if you did not understand
- Non-standard investments – understanding and possibly avoiding non-standard investments like land,second homes,vacation rentals,flipping property,etc.
SAN FRANCISCO,Nov 28,2011 (BUSINESS WIRE) —Luxury home values rose in Los Angeles,San Diego and San Francisco in the third quarter of 2011 compared to the second quarter,according to the First Republic Prestige Home Index(TM) by First Republic Bank,a leading private bank and wealth management company. In the quarter ended Sept. 30,2011,the Index indicated the following: –Los Angeles area values rose 0.7% from the second quarter of 2011 and increased 2.5% from the third quarter a year ago. The average luxury home in Los Angeles is now $2.01 million. –San Diego area values increased 1.1% from the second quarter and fell 3.9% year-over-year. The average luxury home in San Diego is now $1.63 million. –San Francisco Bay Area values climbed 1% from the second quarter and declined 1.4% from a year ago. The average luxury home in San Francisco is now $2.53 million. “Luxury home prices in many California communities increased due to low inventories,low interest rates,and home prices that have declined over the past few years. This has improved the economics of investing in residential real estate,”said Katherine August-deWilde,President and Chief Operating Officer of First Republic Bank. “All three major metropolitan areas in California experienced gains in home prices in the third quarter,which is the first time that has occurred since the fourth quarter of 2010.” First Republic Bank produces the Prestige Home Index each quarter with Fiserv CSW Inc.,a leading provider of automated property valuation services and home price metrics to U.S. financial institutions. Historical results of the Index,which has tracked luxury homes since 1985,are accessible at www.firstrepublic.com . First Republic Bank is an active lender in the luxury home market for primary residences and vacation homes. Los Angeles Area Values In Los Angeles,values have increased in three of the past four quarters. The highest end of the luxury market appeared to be the most robust,agents said. “For homes priced at $5 million and up,the market remains active,”said Jane Brill Graven of Coldwell Banker Beverly Hills East. “There are well-qualified buyers who are looking for properties at the very top end and they have the upper hand. Owners are having to reduce prices to where the market is.” Along the beach communities,the market was largely unchanged from a year ago. “If we had more and better product,we would have had more transactions in the past 12 months,”said Barry Host of South Bay Brokers in Manhattan Beach. “Buyers with money are out there,but there is also a lot of uncertainty. Unless the news starts to settle,the market will continue to bump along.” San Diego Area Values San Diego prices turned positive again after declining in the first half of 2011. Despite the modest quarterly increase,luxury home prices remain soft,and many buyers remain uncertain. “We are very busy,but every single deal is a major struggle,”said Lucy Kelts of Prudential California Realty in Rancho Santa Fe. “You have to talk realistically with sellers up front. We’re not going to get out of this mess until the jobless rate goes down by half.” Greg Noonan of Prudential California Realty in La Jolla said the lower end of the luxury market was picking up. “I’m seeing a bit of pent up demand in the $1.5 million to $3 million range. At $4 million and above,it is a fairly soft market. Buyers are being extremely aggressive in their thinking about price. If a property is on the market for $4 million,buyers want to pay $3.5 million to build in some downside protection.” San Francisco Bay Area Values In San Francisco and Silicon Valley,the luxury market is strong due to technology-driven wealth creation,lower interest rates and lower home prices. The market also benefitted from higher rents,which further enhances the attractiveness of residential real estate as an investment. “The higher end market has been pretty strong,”said Hugh Cornish of Coldwell Banker in Menlo Park. “There has been less inventory in the higher end and more from $2.5 million to $5 million. Palo Alto has been the strongest market,followed by Menlo Park and Atherton. We are seeing multiple offers,but not for every property.” In San Francisco,the higher end of the luxury market was active. “Above $5 million,the market is healthy,”said Mary Lou Castellanos of Sotheby’s International Realty. “Smart money is buying now and is taking advantage of lower prices and lower interest rates. At the same time,a growing number of sellers are getting more realistic about price.” In the Wine Country,a number of high-dollar sales have taken place over the past few months. “We’re seeing a real surge in the upper end of the market,”said Jim Perry of Pacific Union in St. Helena. “People have been waiting on the sidelines. With interest rates so low and prices down,that’s hard to pass up.” Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Tips for Finding Your Malibu Dream Home Pamela Anderson,Jennifer Aniston,Julie Andrews,Halle Berry,Pierce Brosnan,Jeff Bridges and Mel Brooks have all called Malibu home. With its sandy beaches and easy access to the Pacific Coast Highway,it’s no wonder that Malibu is home to dozens of celebrities and entertainment industry insiders. If you want a home in a desirable neighborhood that has plenty of opportunities for outdoor recreation and cultural activities,consider buying Malibu real estate. House vs. Condo You should decide whether you want to buy a single family house or a condo unit. Both have advantages and disadvantages. Malibu condos for sale are ideal for young professionals or those who don’t want to take on the task of regular lawn maintenance and property repairs. If you have children,a traditional home with a yard and plenty of recreation space may be the better option. You should also consider the number of bedrooms and bathrooms you need to live comfortably. A condo may not have enough room for a family with several kids. Features and Amenities Buying a home or condo is a very personal decision,as the features and amenities of a home have to match your lifestyle and personal needs. If your employer allows you to work from home one day per week,you’ll want to buy a home with office space or an extra bedroom that can be converted into an office. Parents often consider safety features when buying a home. Windows with safety latches and reinforced doors can keep kids safe and ease your concerns about buying a house. Once you have your must-have features and amenities in mind,you can start looking at properties. Review Comp Reports Comparable market analysis reports detail the sale prices of homes similar to the ones you are considering. If you are thinking about buying a 2,500 square foot home on the beach,you should look at the comp reports for homes of similar sizes and locations. Reviewing the prices of active listings and recent sales can help you determine how much money to offer if you decide to buy one of the many Malibu homes for sale. You should also review the prices of canceled and expired listings. These properties are often taken off the market due to a lack of interest from buyers. Reviewing expired and canceled listings can help you determine a price limit when making an offer. Making an Offer When touring a home or condo,make note of any existing damage that must be repaired before you can move in. The seller can choose to make these repairs before closing the deal or giving you a break on the sale price so that you can take care of the repairs yourself. Once the listing is under contract,you should also hire a home inspector to make sure there are no serious problems that you did not notice. Termite damage,electrical problems and broken plumbing may be severe enough to deter you from buying the home. Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Many sellers think that the Holiday Season is the worst time of year to sell a home,with busy schedules,time off for family gatherings,and fewer buyers looking to buy. However,in reality the Holiday Season may be one of the best times to sell,and here are 15 reasons why: There is less competition for buyers,since many sellers delay listing their homes until the Spring. - Winter prospects are more generally more serious buyers,not just looky-loos.
- Buyers have more time to look at homes during the holidays,especially during vacations.
- This is a great time for buyers to take a dual-purpose trip to include both house hunting and family visits without extra cost.
- Buyers are more emotional during the Holidays,so they are more likely to pay the sellers price.
- Buyers have more time to look for a home during the Holidays that they do during a working week.
- You may receive more money for your home now because you have less competition from other sellers.
- You may have fewer actual showings,but more qualified and motivated prospects.
- One of the highest percentages of the ‘listing sold’ to ‘listing taken’ occurs during this time of year.
- Your home looks better during the holidays. Even if you haven’t decorated your home,most people do clean up for visits from friends and family.
- Throughout the holiday season,buyers will understand if you restrict showings during your personal family events.
- January is traditionally the biggest transfer month,and you must have your home listed to capture that activity.
- By selling now you can have a delayed closing or extended occupancy until the beginning of the following year if you want it.
- When you sell during the winter you have an opportunity to buy during the spring,when more homes are on the market.
- Corporate transfers,who need to buy a home now,can’t wait until spring to find a home. Many relocating employees start their new jobs in January.
- Moving during the Holidays is easier on the children,since they’re in touch with new friends as soon as school starts in January instead of being alone during the summer months.
Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. |
