Tips for Finding the Right Seller

Image result for home seller

The best seller is one who is highly motivated. A highly motivated seller is more likely to sell at a price that is less than his or her house is actually worth. And it matters that you find out why. Learning the reason why can help you get the price you want and help the seller get what they want: a timely sale.

When given the opportunity to meet with sellers, ask them why they are selling. The reason could be anything, such as a job change to a new location or financial problems. If you can solve their problem, whether it is cash related or time related, do so. For example, if the sellers are highly motivated because they need to move quickly, give them a fast sale – and a lower price. If you can make an offer, even a low one, that gives them cash in a short time, they are more likely to accept.

There are also some sellers that you should avoid. Not every seller is as genuinely motivated as they make themselves to be. Some possible hints:

Image result for motivated home seller

  • they stall on having the home appraised or inspected
  • they are unable to clear up liens against their property
  • they do not own 100% of their property
  • they push back the move-out date
  • they do not have a replacement property or back up plan
  • etc.

It is impossible to find the perfect seller. But it is possible to find out which sellers are legit and which ones aren’t.

Advertisements

Where to Explore When you Move to San Diego

Laid-back, hip, and perpetually sunny, San Diego is a slice of beachy paradise—and a hotbed of wonderful culture, worldly cuisine, shopping, and nightlife. Apart from well-known attractions like the famed San Diego Zoo and the iconic Balboa Park, there are numerous art galleries, quirky-cool museums, and high-end eateries to discover. If you’ve just taken a leap and moved to the area, check out these top places to explore in San Diego!

Arts & Culture

San Diego is a city in which the arts, in all their forms, are widely beloved. From well-established museums to small-scale galleries, these are the top arts & culture experiences to have when you visit San Diego:

Visit world-class art museums.

San Diego Museum of Art
San Diego Museum of Art

Though Balboa Park is touristy, the San Diego Museum of Art and the Timken Museum of Art are must-see destinations for serious art lovers. The former attraction houses masterworks by Rembrandt and Jacques-Louis David, and the latter has works by dozens of popular American painters, from Georgia O’Keefe to Stuart Davis. Fight the crowds or go on a weekday; both museums are well worth it. Either way, you’ll avoid San Diego traffic, as Balboa Park is a highly walkable area. Park your car in a convenient lot and leave it for the day!

See Chicano murals.

In the neighborhood of Barrio Logan, you’ll find Chicano Park, which features the biggest collection of Chicano murals in the world (there are over 80 paintings on seven acres), as well as several art galleries and shops. Head here in the daytime to be able to appreciate the true vibrancy and beauty of the murals.

Stroll around an artsy neighborhood.

In North Park, art loving-travelers can experience an abundance of cool street art, in addition to galleries and studios, performance art spaces, and under-the-radar concert venues.

Dining & Drinks

Historically influenced by Mexican cuisine, the food scene in San Diego is thriving and growing all the time. The city is now home to a variety of farm-to-table restaurants, top French and Italian eateries, and some of the best fresh seafood in the country. And the drinking scene is diverse, as well. Take your pick from upscale oceanfront cocktail bars, neighborhood watering holes, and over 150 craft breweries.

Little Italy in San Diego

Little Italy in San Diego
Little Italy in San Diego

The best place to get an all-around feel for the local food & drink scene is the lively, cool Little Italy neighborhood, where you’ll find a plethora of awesome eateries, cool coffee shops, wine bars, craft brew pubs, and more. Stroll through the buzzing Mercato Farmers’ Market on a Saturday to sample fresh-baked bread, locally-made jams, farm-fresh produce, and other artisanal foods from over 175 farmers and vendors. This is the city’s biggest downtown market, and it’s definitely a local fave spot.

Also in Little Italy, James Coffee Co. is the perfect spot to enjoy handcrafted roasted coffee blends, Bottlecraft Beer Shop & Tasting Room has excellent local brews, and Craft & Commerce has tasty small plates (think grilled oysters, charred eggplant dip, and marinated olives) and craft cocktails. Even a drive down the main drag, India Street, is a great way to explore the area.

Here are three other can’t-miss San Diego food & drink experiences:

Check out a hip food market

At Liberty Public Market, a 25,000-square-foot public market in Point Loma’s Liberty Station, visitors can peruse a dazzling array of food and goods from 30 local chefs and artisans—there’s also live music every week, and a dog-friendly market patio every Sunday.

Sample the best tacos in the city. 

Best Tacos in San Diego
Best Tacos in San Diego

Craving tacos? Look no further than El Paisa Mexican Grill, easily one of the most beloved taquerias in the city—they make their own tortillas here, and you can pretty much get any type of taco you want.

Dine at a five-star French hotspot.

And for those who want to splurge on a decadent five-star meal during their trip? Make a reservation for Addison, a critically acclaimed Grand Del Mar resort with incredible dishes like langoustines with caviar and parsley and mussels with green curry, as well as a killer wine list.

The Outdoors

It’s near-impossible to go to San Diego and not spend some time at the beach—not only is the weather here perma-beautiful, but the city boasts over 70 miles of scenic coastline punctuated by pristine beaches, rugged cliffs, and gorgeous blue-green bays. Take a drive out to one of the many beaches. Although you can’t really go wrong with any of the beaches here, there are a few standout spots to check out:

La Jolla Cove
La Jolla Cove

La Jolla Cove is the place to be if you want to try your hand at snorkeling or scuba diving—this tiny gem of a beach has crystal-clear waters and exciting marine life, like the bright orange Garibaldi fish.

Ocean Beach feels like 70s-era hippie California, with its barefoot surfers, funky beach communities, and collection of novelty and vintage shops. Head here if you’re into bohemian vibes, oceanfront live music, and boho-chic boutiques.

At Mission Beach, you’ll find over two miles of oceanfront boardwalk, tons of surf shops, and an old-school amusement park right on the water. In other words, it’s pretty much impossible to get bored at this bustling, action-packed beach.

Finally, although Coronado Beach is a bit touristy, it’s well worth a visit—with the postcard-perfect Hotel del Coronado, sparkling white sand, and the city skyline in the background, it’s the quintessential San Diego beach.

All in all, San Diego is chock-full of exciting culture, cuisine, and nightlife—and, not to mention, some of the most stunning beaches in the country. Whether you’re looking for the ideal romantic getaway, a great place to spend the weekend with friends, or the perfect family-friendly destination, San Diego has a little something for everyone.

The Functions of an Escrow

Image result for escrow real estate

Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the protection of buyer, seller and lender, the escrow process was developed.

As a buyer or seller, you want to be certain all conditions of sale have been met before property and money change hands. The technical definition of an escrow is a transaction where one party engaged in the sale, transfer or lease of real or personal property with another person delivers a written instrument, money or other items of value to a neutral third person, called an escrow agent or escrow holder. This third person holds the money or items for disbursement upon the happening of a specified event or the performance of a specified condition.

Simply stated, the escrow holder impartially carries out the written instructions given by the principals. This includes receiving funds and documents necessary to comply with those instructions, completing or obtaining required forms and handling final delivery of all items to the proper parties upon the successful completion of the escrow.

The escrow must be provided with the necessary information to close the transaction. This may include loan documents, tax statements, fire and other insurance policies, title insurance policies, terms of sale and any seller-assisted financing, and requests for payment for various services to be paid out of escrow funds.

Image result for escrow real estate

If the transaction is dependent on arranging new financing, it is the buyer’s or the buyer’s agent’s responsibility to make the necessary arrangements. Documentation of the new loan agreement must be in the hands of the escrow holder before the transfer of property can take place. A real estate agent can help identify appropriate lending institutions.

When all the instructions in the escrow have been carried out, the closing can take place. At this time, all outstanding funds are collected and fees- such as title insurance premiums, real estate commissions, termite inspection charges- are paid. Title to the property is then transferred under the terms of the escrow instructions and appropriate title insurance is issued.

Payment of funds at the close of escrow should be in the form acceptable to the escrow, since out-of-town and personal checks can cause days of delay in processing the transaction.

The following items represent a typical list of what an escrow holder does and does not do:

THE ESCROW HOLDER:

  • serves as the neutral “stakeholder” and the communications link to all parties in the transaction;
  • prepares escrow instructions;
  • requests a preliminary title search to determine the present condition of title to the property;
  • requests a beneficiary’s statement if debt or obligation is to be taken over by the buyer;
  • complies with lender’s requirements, specified in the escrow agreement;
  • receives purchase funds from the buyer;
  • prepares or secures the deed or other documents related to escrow;
  • prorates taxes, interest, insurance and rents according to instructions;
  • secures releases of all contingencies or other conditions as imposed on any particular escrow;
  • records deeds and any other documents as instructed;
  • requests issuance of the title insurance policy;
  • closes escrow when all the instructions of buyer and seller have been carried out;
  • disburses funds as authorized by instructions, including charges for title insurance, recording fees, real estate commissions and loan payoffs;
  • prepares final statements for the parties accounting for the disposition of all funds deposited in escrow (these are useful in the preparation of tax returns).

THE ESCROW HOLDER DOES NOT:

  • offer legal advice;
  • negotiate the transaction;
  • offer investment advice.

Your local title company should be happy to provide additional information.

Article by CLTA

Pet Laws

shutterstock_130224710_0

Are you interested in purchasing a home in San Diego? Domesticated pets are regulated within San Diego County and being aware of these laws are essential!! Getting familiar with the regulations of each area can both help and guide you to the most ideal location while you are on the hunt. Here are some rules and regulations to be aware of so the dream home you find will not only be perfect for you but for your pets as well!!

 

San Diego: San Diego County’s residential homes limit is up to 6 adult dogs, 6 cats.

To read more, visit this website:

Carlsbad: No more then 3 adult dogs or cats in and combination.

To read more, visit this website

Encinitas: With an assortment of dog parks and Off-The-Lease locations for your dog Encinitas is a dog lover’s dream! Although it is extremely pet friendly regulations do apply. Encinitas has a limitation of

La Jolla: 6 Adult Dogs

Solana Beach: 6 Adult Dogs

Del Mar: 6 Adult Dogs

Rancho Santa Fe: 888 267 8770 6 Adult Dogs

Oceanside: Limitations are set at three adult dogs and up to an additional 3 pets of any type. Animals under the age of three months old are not included in this count. It is not until after three months the dogs are considered adult.

To read more, visit this website

Vista:

San Marcos:

Escondido: Two dogs and two cats.

To read more, visit this website:

Rancho Bernardo:

Poway:

Rodent Regulations for California State Wide:

Ferrets and Hedgehogs are illegal to maintain within the state of California.

(Poway: It is unlawful for any person to maintain a rat menace where livestock is kept. [http://www.codepublishing.com/CA/Poway/#!/poway06/poway0604.html#6.04.080])

Restricted domestic animals for California State Wide:

  • The Monk parakeet (also called Quaker parakeet)
  • All species of the Order Insectivora (shrews, moles, hedgehogs, etc.)
  • All species and varieties of gerbils, and all wild-caught or captive-bred species of squirrels, prairie dogs, fur-bearing rodents, mice and rats, except rodents specifically exempted above
  • Domestic or ranch mink, domestic ferrets, polecat-ferret hybrids, domestic or ranch red fox, Arctic or blue fox, and F-1 wolf-dog hybrids
  • Domestic and semi-domestic ungulates, including fallow deer, ranch-raised elk, reindeer, eland, gayal

 

Other Illegal Pets:

  • Raccoon
  • Dormouse
  • Snapping Turtle
  • Skunk
  • Wolf-dog hybrid
  • Sugar Glider
  • Monkey
  • Chimpanzee
  • Alligator
  • Opossum
  • Any Marsupial

 

California Non-Restricted Domestic Animals:

  • Chinchilla
  • Llama
  • Alpaca
  • Guanaco
  • Camel
  • Bison
  • Ostrich
  • Emu

 

 

 

Becoming A Homeowner As A Millennial

Minneapolis a Top City for Millennial Homeowner Growth

If you are stuck with student debt you may feel like you have a ball and chain attached to your foot and think you may never be able to afford a home.  A study showed that close to 70% of millennials are waiting to become homeowners due to their student debt.

A student loan is only part of your overall financial profile so it is unlikely that will affect your ability to get a mortgage.

You will want to have a handle on the debt you already have so you can see how much more you can reasonably take on.

The biggest impact on your monthly payments will be how much you put up for a down payment and the interest rate on the mortgage.  There are calculators offered by Zillow, Bankrate, and others to calculate mortgage payments and affordability.

An Insider’s Guide On Navigating Adjustable Rate Mortgages.

If you know what a Adjustable Rate Mortgage is, you also may be wondering what the advantages and disadvantages are. So let’s explore that issue.

Offering adjustable rates allows lenders to transfer part of the interest rate risk from themselves to the borrower. If you get a fixed rate mortgage and the interest rate then goes up, it costs the lender money. However, if you have an adjustable rate mortgage, as the interest rate goes up, so does your payment, thus compensating the lender. Adjustable rate mortgages are particularly useful when unpredictable interest rates make fixed rate loans hard to get.

Image result for adjustable rate mortgage

One of the main advantages of an adjustable rate mortgage is that the initial interest rate is lower than that of a fixed rate mortgage. A lower rate means lower payments, which may help you qualify for a larger loan. This is an important detail if you expect your future earnings to rise. In this case, the ARM will allow you to qualify for a larger loan amount earlier rather than later.

However, this information should only be used with care. If you use an ARM to qualify for a larger loan amount than a fixed rate would allow you and the interest rate then rises drastically or your income doesn’t rise, you may not be able to afford the larger monthly payments, thus causing you to default on your loan.

A situation in which an adjustable rate mortgage makes sense would be if you are only going to keep the house for a short period of time. If you are only planning to own your house for only a few years, the risk of the interest rate rising goes down. This means that you will get a better rate with an ARM, making it a good choice. However, if you plan on staying in your home for a long period of time, a fixed rate may be a better option.

Image result for adjustable rate mortgage

The lesson here is to have a plan. Know what your goals are in purchasing a home and plan for all eventualities. Do your research when shopping for an ARM and consider the worst-case scenario.

5 Home-Selling Tips Everyone Hears and May Want To Ignore

a15b18aec3b1e388baf2fe361bc9d778w-c0xd-w685_h860_q80.jpgOne of the hardest parts of selling your home is all the unknowns: Who will buy your place, and for how much? How long will it take? That uncertainty might make you particularly eager to soak up advice from just about anyone who’s willing to share. Problem is, just because your sister or co-worker swear by certain rules that worked for them, it doesn’t mean they’ll be a magic solution for you, too.

Fact is, a lot of the real estate advice circulating out there is outdated, region-specific, or just plain wrong. As proof, check out this list of tips that many home sellers hear … then learn how these words of wisdom don’t always hold water. Let this serve as a reminder that when selling a home, you should take everything you hear with a huge grain of salt.

‘You should always list your home in the spring’

Common knowledge says home-buying season starts in the spring and goes through the fall. Not true, says Melisa Aponte, a real estate agent with the Keyes Group in Miami, FL.

“January is a great listing month,” she points out. “People are back from the holidays and ready to start looking.”

Well, at least in places that don’t have a nasty winter, like Miami. Which makes a larger point about real estate advice in general, Aponte says: Every market is different, and what’s great advice in one area can be terrible advice in another.

Besides, when it comes to deciding when to list a home, there are two sides to the coin. Busier times mean more buyers, but also more sellers and more competition. Listing your home when inventory is low could snag the right buyer quickly. Life is unpredictable, and there will always be buyers looking in the “off season,” too.

‘You’ll find your buyer at an open house’

Open houses are exciting, akin to a debutante ball where your home makes its fresh-faced appearance to scads of suitors all at once. And that’s fine, but don’t expect this to be the venue where you find “the one” who makes an offer. While that can occur, open houses are more like parties, filled with swains who aren’t ready to settle down, says Anita Clark, a real estate agent in Warner Robins, GA. Serious home buyers will more often request a private one-on-one showing instead.

Of course, you don’t want to skip the open house entirely. It’s a great way for people to browse, and hey, you never know. Maybe your looky-loo neighbor has a family member who would love to buy your place after all. But it’s time to let go of the idea that an open house is a key step on the road to your ultimate buyer.

‘You can save money by paying less in commission’

Reluctant to fork over the 6% commission that real estate agents typically request to sell your home? Sure, that may seem like a lot of money, but what you might not realize is just how much work an agent does behind the scenes.

“A lot of people don’t understand that an agent’s job is more than just listing the home on the MLS,” says Aponte. Agents’ commissions pay for their time and for marketing materials. Posters, flyers, broker open houses, and yard signs all come from the money you pay your agent.

But beyond that, “it gives your agent the power to offer money to other agents who have qualified buyers,” she explains. That’s because the buyer’s agent and the seller’s agent split the commission.

Though in an ideal world, buyers’ agents would show them every property in their price range, regardless of commission, unfortunately it doesn’t always work that way, says Aponte.

“So if there are a lot of properties on the market and you’re only offering 2% commission, there are agents who won’t show that property,” she says.

Ultimately, you get what you pay for, and a higher commission can often justify itself in the sense that you can reel in tons of buyers, and (hopefully) spark a bidding war that’ll fetch top dollar.

‘Price your home high—and hold out for a buyer who’ll pay it’

Of course you want to get the most you can for your property. Still, pricing it sky-high and hoping a gullible buyer will fall for this aspirational sum? Not a great plan.

“I want to sell your property for a million dollars too, but I would be doing you a disservice to price it that way if the comps are saying $500,000,” says Aponte. Home buyers are highly sensitive to overpaying, and will quickly steer clear. And the longer your house sits on the market, the more buyers will begin to think something’s wrong with it … and lob you a lowball offer.

The best way to avoid this debacle is to price a house right from the start—not too high, not too low—and then seriously consider any offers that roll in, even if they aren’t as great as you’d hoped. To start things off, you can enter your address in a home value estimator to get a ballpark figure of how much your home is worth, then fine-tune that number with an agent’s help.

‘Here’s what the market is going to look like next year…’

Sure, it makes sense that real estate professionals will make educated guesses to help guide buyers’ and sellers’ decision-making. The operative word here is “educated.” Fact is, nobody really knows what the market is going to do; if they did, the housing crash of 2008 would have looked a lot different!

“Beware of ‘future’ predictions that don’t come from a reputable source,” says Dillar Schwartz, a real estate agent in Austin, TX. Sure, your brother-in-law or best friend might be trying to help, but keep in mind that their armchair philosophizing about the future of real estate is just an opinion—nothing more.