Why Work With A Real Estate Agent?

It is a legitimate question.  Why should you work with a Professional Real Estate Agent?

A qualified, competent real estate agent will help you understand all of decisions that have to be made when buying or selling a home. -Can show you what the pricing ought to be and clearly show you why.

Your qualified agent should provide value to you  in many ways. The services should be spelled out clearly for you. Each agent has their own style and marketing plan. Make sure you understand if it is a fit for you.

Sellers:

The biggest mistake a seller can make is listing  with the wrong agent.  Who is the right agent you ask? Well read the list below and see if your agent

-Can explain clearly the pluses and minuses of any offer
- Can show you how to properly prepare your home for the market - a good agent is honest with you about the changes you need to make in your home. Don't be offended be glad you have a professional on your side.
- Has  a Network of contacts to promote your property to other than "some agents" in their office
-Has a network of service professionals to handle anything that comes up during the sales process.
(Lending, home maintenance, gardeners, cleaners, insurance, tax and legal professionals)
- Can Advise you on what works and what does not in your particular market.
-Can deliver you a written plan of what they will do to sell your home. Your time is valuable you should not have to "guess" what your next steps are.
-Knows their numbers (sales and other listed comparable properties) forwards and backwards.

Three things that don't matter when hiring someone to sell your home:

1) Number of homes sold - When an agent tells you that they sell 100, 200 or 300 homes a year this is your first tip off that you are dealing with a large "team."  Instead of dealing with one person you will have to go through many assistants and handlers. The persons name on the sign in front of your home may never even see your property.  Some sales teams like this are quite accomplished. However, if personal relationships with the person who is selling your home are important to you, you might want to hold off on signing with one of these teams. Likewise, if the agent you are talking too can only show you 4-5 sales they may not be full time or active enough to get your home sold. Obviously there could be a specialized exception but be sure to ask if the number seems too low. A productive agent in most markets is selling between 24 and 40 homes per year.

2) Ads in the Newspaper of Glossy Magazines - Readership of these publications has fallen off a cliff in the last decade. If your listing agent does this it won't hurt anything but it is not a reason to list with someone and it is not going to sell your home in most cases.

3) A Large Franchise Name - Buyers NEVER ask who has the home listed. They either want to see it or they don't. Any agent that tries to sell you on their franchise is not doing you any service.  By their very nature Franchises are a loose conglomeration of privately held companies. Their "networks" will not likely help you get a buyer. Each franchise has strengths in different geographic areas.  This is of no help to you. Real Estate agents very rarely work outside their territories and unless your home is a unique or specialty property it will just be "a house" to someone not familiar with your area.

Buyers:

Here is your first clue that your agent may not be the best one for you. They put you directly in their car and take you to look at a house.  While this might meet your desire for instant gratification it is not the sign of a professional agent.

A good buyers agent is going to ask you questions. They are going to help you see what you are looking for, what you can afford and what is best suited to you.  Yes you will look at houses but rather than run through  dozens of homes that are not a fit for you you will see homes that are most likely a perfect fit for you.

When you are working with a professional buyers agent and they take you to a home you should either see a home that closely matches your needs or the agent should be able to



explain why they showed you this home.  It could be price, neighborhood or some other feature but it should be a valid reason for not matching your needs to the property.

Watch for the agents that listen to you and show you the right properties. Those are the winners that you want to work with.

41775 Ward Drive Palm Desert

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Privacy and space rarely comes in a package this attractive.  Great main house floorplan with three beds and 2.5 baths.  Large pool spa and wading pool, big outdoor entertaining area partially covered.

Then you get a one bedroom guest house with its own bath.  Tons of storage, 2 car and golf cart garage plus your very own fruit orchard in the back corner of this enormous lot.

All of this nestled in the interior of Sunterrace a quiet Palm Desert Neighborhood minutes from shopping, Dining and golf but seemingly in a private world all its own. With ultra low Homeowners fees, unique semi custom homes this gated community is a special place.

A hidden gem that won't stay that way at this price!  Call or text for your showing today!

760-408-5300

Buying Your Dream Home Top Tips

Buying a Home is easy if you do it the right way. Watch our fun video for some great tips!

Buying your dream home learn the top tips - on ways you can best realize your dream of home ownership.

There is a clear process that is going to get you the best results.  Don't short cut that process and lose out on the perfect home for you and your family.

We have you covered in the Coachella Valley!

Palm Springs

Palm Desert

Rancho Mirage

La Quinta

Indian Wells

Cathedral City

Are you READY to start looking for your Dream Home - Start searching with one of these links on this page!

The Truly Smart Home Buyers Guide

Moving to a bigger pond?

Get Your Next Home Purchase Right The First Time!

There are lots of reasons you might need or want a larger home. Perhaps it is not even bigger- just different.  There are all the obvious reasons such as job relocation, new children and perhaps even having extended family moving in with you. How you go about searching for that new home can mean the difference between long term satisfaction or a costly mistake.

It is very tempting to sit and create that wish list. The "I must have" in order to move list.  Left unchecked we can all get a little carried away and by the time we are done the house we conceptualize as a "must" can become twice what your budget is.  It may also send us down the path of looking at the wrong house.

While it is fun to day dream I propose that you should actually start with another type of list all together.  I call it the The "non changeable" list.  You see, there are many things about a home you can change. Paint colors, decor, windows, and well, basically anything about it. You can even add onto it and create more spaces. But there are 5 things that have a lasting impact on your satisfaction with the home. If you don't know these going into your search you will waste quite a bit of time looking at homes that don't fit you and never will!

  List of non changeable items you need to consider are:

Lot: Location, orientation and topography - this won't ever change. Your lot will always be right where it is today. Is this the best lot you can get? Does it give you what you want? is a hillside home really want you long term? A yard with major trees means maintenance. Does the house face the wrong way? Will your bedroom be too bright in the morning and the living areas too warm in the afternoons?

School: It is unlikely your school district will ever change. Even if you don't have kids what about resale? Do people without children desire this neighborhood? If no, resale will be tougher. Outside of exclusively retirement areas this is always a consideration.

City: Is it well run? How is the zoning? How are the public services? Compromising on this could mean higher taxes or less services down the road. Cities are wildly different in how they manage their budgets. Just because one town is well managed does not mean the very next town over is too!

Utilities: In many areas where you live can determine who your basic utility providers are. Some have very different rate structures. Do you know which is which? Check any special assessments for recent area upgrades.  That new underground wiring they bragged about in the listing may have a real cost on your tax bill.

Services: This one is not set in stone - stores, physicians, entertainment venues etc. can close or relocate over time. My general rule of thumb here is this: If you are looking in an area served by one grocery store only - think about how you would like it if that store closed. Where is the next closest one? Being close to the conveniences you need in your life is more important that you may realize. Too many times we see people purchase far from these services to get the house and then they are unhappy with the area.

By focusing on these core items you can save loads of time not "trying to see if it will work"  focus just on the listings that meet your needs on these five items.  Paint is cheap, flowers are fun to plant and cabinets can be replaced but the five things we mentioned above can never be changed.

Looking for real estate in the Coachella Valley / Palm Springs be sure to visit our website at www.psagent.com or just give us a call at 760-408-5300 we will help you find a home using these criteria.

Recovery...Really, Is This The Best Time To Sell?

The last three or four months in California (well most of the state anyway) have been a heady return to the days of multiple offers. Declining inventories have lead to a mini frenzy on many properties. Prices have started to inch up. Don't worry, no one is going to get whiplash from the speed that they are rising but they are indeed rising a little. Homes that are in tip top shape sell first, followed by homes that need just a little work followed by great buys on big fixers in good areas.

[caption id="attachment_2151" align="aligncenter" width="300"] Sales Surge In California[/caption]

This trend has bypassed  properties with high Homeowners fees, it has also excluded most condos - Single Family homes are the darlings of the current market.  Great prices on homes/condos have had the negative effect of making the HOA fees really jump up and hit buyers in the face.  Ironically, it is the best priced condos that often have the worst time of it. While many people will take a closer look at a nice condo for a mere $100-115 thousand they hit the pause button upon finding out that the monthly dues are over $400. At todays' historically low interest rate that is almost as much as the mortgage.

Many reports on the state of Real Estate focus endlessly on the numbers 49%-55% decreases in inventories year over year, and as mentioned earlier the modest surge in prices.  It would be easy to interpret this as a positive sign of a rejuvenated housing market.  Underlying these trends though some economists are pointing out, are the harder facts. Only about half of the homes purchased are being bought by primary home owners. That means the other half are being bought by investors that want to fix and flip or fix and rent.  The economist say this points to low demand despite record low interest rates consumers are not flocking to buy homes. The underlying economic conditions of growth in the economy and lack of jobs is holding the average home buyer back even with 3.5% interest rates!

The point here is not to say that all is lost. Movement in the market is still good. Banks still have years of work to do to reduce their foreclosed inventory. It is debatable how they will do that but that is for another blog post. Some new construction is starting to spring up or get restarted.  Inventory levels could change depending on these two segments alone.  It has been talked about lately, that the banks may start selling off their inventory in bulk sales. That could change the market drastically. Also, investors could shift gears. If they are unable to find tenants or buyers for their flips they won't be buying more. The economy could improve the only constant here is the fact that things will change.

This leads me to the point that I don't think should be missed. If you are in a position where you know you want to sell your home in the next 6 months, do not wait. Now is the time - seize the moment and do it now.  After almost 12 years in the business I can personally attest to the fact that in every market condition the market tends to shifts about every six months.  The shift could be availability of financing - inventory levels - consumer confidence or something as mundane as popular price points but it will shift.  We are drawing close to that six month window, sellers now is your moment.

So What is A Preliminary Title Report All About?

When buying real estate you will be present with many documents that look unfamiliar to you. Your agent should be able to explain each one to you and why it matter. Here is an outline of what the Preliminary Title Report Contains and the things you should look for in this document.

Vesting– Make sure the names on the Preliminary Title Report are the correct names and that the property is the same as the property on the purchase contract.

Taxes and Assessments-  In addition to looking for special tax districts you might not have been told about you can look for an exemption or classification designation that would change the tax amount as a result of the sale. It is common, in California, for properties to be reassessed upon sale.

Deed of Trust –  To make sure all debts on the property are being paid off in your transaction be sure all paid off Deeds of Trusts are reconveyed. Upon proof of payment and/or an indemnity, the title company may insure around the encumbrance.

Identity Matters – As a buyer you will provide a  ‘Statement of Information’ which can clear up identity issues that may arise. The seller will have to do one as well. If there are judgments and liens that belong to the party in question and have been paid then a release or satisfaction must be obtained and recorded or filed to eliminate the matter.

Pending Actions – A civil action affecting real property generally will have to be dismissed before title can insure. A divorce or probate doesn’t have to be finalized but special requirements may exist. Check with your Title Rep. or Title Officer for more information.

Joint Use Matters – Driveways, common walls and most easements may prompt Lenders to require a joint maintenance agreement. The preliminary title report will show such agreements if one is on record.

Extended Coverage Matters – If a physical inspection of the subject property disclosesencroachments, lien rights, or other matters, these must be addressed before the lender will close. An extended coverage owner’s policy may be requested and a survey of the property will be required. Although this type of situation would delay your closing it is imperative that you get it done before you let the proeprty transfer.

Legal Description - The legal description should always be compared to the legal descriptionin the purchase and sale agreement to be sure that all the property being conveyed has been included in the preliminary title report. I see this most commonly when there has been additional acreage added to the property or multiple buildings exist. In anycase be sure that all property is included in the legal description.

While basic the above gives you a great start on understanding why this document is important and what you need to do with the information contained in it.

 

Should I Bring My Friends and Family With Me to look At Real Estate?

  

Buying a new place is a very exciting time in every ones life. In fact,  if you are not excited please check your pulse! You want to ask a million questions, you want to see as many places as possible and you want to share it with your friends and family.


On the surface getting in the car and going through a bunch of houses seems pretty simple and straight forward.  The truth is that looking at Real Estate takes concentration. It is a big decision that will impact your life for many years to come. It is crucial that you think about the elements of the purchase that are most important to you. Your “must have” list and your “do not want” lists are just the starting point. Once you are looking at properties that closely match your needs and wants is when you must pay the most attention.

There are a hundred little things that can make a big difference in the quality of life you will enjoy once you make a place yours. Where does the sun come up? Is the neighborhood a quiet one? How will you live in the house? Is the laundry close to the bedrooms? Is the kitchen too big or too small for your cooking needs? Does the master closet seem cramped?

While friends and family may have the best intention are they really going to know the exact requirements you have? More to the point are they going to be a help or a distraction? It is unlikely that they will have the same taste as you. It is equally unlikely that the things that are important to you will be the same things that seem important to them.

Over the years I have seen one or two “tag along” people who were incredibly dedicated, invested and helpful in the process. These were the exceptions to be sure. More often than not I have seen them hinder the process and cause you – the buyer- to miss the finer points of a property. Your Realtor, needs your attention to both convey what is important about the property and to hear your feedback. Extra people are rarely helpful in that process.

The best suggestion is to do your selection alone and then once the decision is made make a trip back to the property to show friends and family why this is the perfect property for you. Then you can share your wonderful new place without worrying about distractions that might keep you from spotting the perfect place.

Search For Your Palm Springs Area Home Here

Buyers In Home Owners Associations Beware

When buying in a neighborhood or planned development (condo or single family home) with a home owners association there are documents and rules and regulations that you must review. Commonly called HOA Docs and CC&R's (covenants, conditions and restrictions) these are the rules that govern the neighborhood and you when you become a home owner in that development. The Docs will cover budgets and expenditures as well as the organizational aspects of the community.

WHY DOES IT MATTER:
This is important for several reasons. First, you should read these carefully. Look for things that restrict your use of the property in any way, then ask yourself can I live with that? Examples would be no RV parking, no overnight street parking, restrictions on colors you can paint your home, Pet restrictions, even rental restrictions - can you rent your home out and under what terms?

COSTS:The big caution here comes into play while you are still a buyer. The documentation mentioned above has a cost associated with it. Producing the vast quantity of paper that typical HOA associations have has a labor and materials cost. Some HOAs' are very reasonable about their fees and charge a nominal fee for copying and labor. Increasingly, however, I am seeing associations turn this task over to outside 3rd party companies. This is when the cost skyrockets. I have seen fees as high as $650 for a 3rd party company to produce the set of documents that you as the buyer must receive prior to completing the purchase of your home.

Here is the catch. Even if you have a smart agent who negotiates that the seller pay these fees upon closing of a successful transaction - these third party companies want their fees

up front. Guess where the money comes from? You - the buyers - deposit. If for some reason you decide not to complete the purchase and cancel the transaction you will be chasing the seller (who in many cases is now angry) for these funds. Beware when entering into these transactions of the paperwork that says you agree to have these fees deducted from your deposit and that they are non refundable.

The reality is you, as the buyer, started the transaction and did place an offer but just know that if you fail to complete the sale those funds are likely lost forever. Be sure to communicate clearly with your escrow officer about what those charges are and when he or she will be ordering them.

2016 UPDATE:

The State of California Has stepped in and passed rules on these fees. Now the seller must pay these fees.  The buyer only pays them at the close of escrow IF the buyer and seller have negotiated that. This has saved many problems since it was implemented.  It has created one new problem though in that sellers must get their funds to escrow in a timely fashion so that docs are ordered and delivered to you, the buyer, in time to meet other loan and inspection deadlines.  This is something your Real Estate Agent should be on top of for you.


For more information on the Escrow process please contact us.