Coastal Premier Properties Welcomes Lexi Gustin!

Coastal Premier Properties is pleased to welcome Lexi Gustin! Lexi will be working out of our Carmel Valley office.

Lexi Gustin Welcome

Bio:

Lexi Gustin is 28 years old and a resident in La Costa. She has a health and fitness background and is licensed in esthetics. Lexi’s nationality is Lebanese/Italian and some of her hobbies outside of work include singing and opera. She is a loving mother of one. Lexi actively involves herself in a number of charities for animal rescues and adopting from shelters.

Lexi knows that buying/selling property is not a walk in the park. She can help provide a smooth transaction while getting you the best deal possible. Lexi believes in the importance of helping clients understand the ins and outs of the real estate process and is determined to fulfill this task to the best of her ability. She is ready for any and all real estate questions you might have. Give her a call today!

Click here to contact Lexi! For more about Coastal Premier Properties, visit our website!

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Buying a House in 2019: Things You Need to Know

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Buying a house is a minefield full of “I didn’t know thats.” From choosing the right home to qualifying for the best mortgage, you want to minimize the things you don’t know.

So let’s lower your “didn’t-know” ratio. With a shifting lending landscape, unpredictable interest rates and down payment priorities based on your local market, here’s what you’ll need to know about buying a home this year.

 

 

What’s the first step to buying a house?

With acute shortages of homes for sale in so many markets throughout the nation, getting a pre-approval for a home loan is more important than ever. Cash buyers used to give sellers confidence that a deal would close quickly, but fewer cash buyers are shopping right now. And when houses weren’t in such short supply, buyers didn’t face the pressures of intense seller’s markets.

With a lender lined up and a pre-approval letter in your pocket, sellers know you’re serious. With a pre-approval, sellers feel comfortable that, ‘Hey, this guy is a legit person who is going to buy and close.’ Prospective buyers need to immediately start with the lender. See what you can afford and see what your hurdles are going to be. Shopping for homes before gaining a loan pre-approval can be a big home buyer mistake. Some buyers don’t realize how many underwriting deal breakers that can hijack — or significantly delay — getting a mortgage there are.

Those home loan approval pitfalls can include issues with student loans, significant recent cash deposits, and the manner in which self-employed income is reported.

 

How much house can I afford?

‘How much house can I afford?’ is the first-time home buyer question. We offer a rule-of-thumb to help.

Instead of telling them about debt-to-income ratios, first-time buyers better consider three times their income as a starting point. So, if you and your spouse have a combined annual income of $110,000, most likely $330,000 will be your price range, plus or minus a couple of percent. But rather than guessing, you can simply take the first step — talking to a lender.

 

What’s up with interest rates?

Another change impacting the real estate market is interest rate volatility. Many experts predicted rates to steadily rise throughout 2019, yet so far 30-year mortgage rates aren’t far from where they were a year ago. At this point, it’s not clear where they’re headed over the next 12 months.

In fact, more than a third of Americans say they plan to buy within the next five years — and nearly one-fourth of those prospective buyers say they’ll buy in the next 12 months, according to NerdWallet’s 2019 Home Buyer Report.

 

What credit score do I need?

A credit score of 620 is typically the minimum that mortgage lenders are looking for, though some lenders will go as low as 580 or below.

What we see is that average credits are usually 620 to 680, very good credits are 680 to 740, and if you’re over 740, you’re spotless.

 

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How much do I need to put down on a house?

People still think they need 20% down. Three percent down, 5% down are the ways people are buying homes. Ten percent down is the average in the nation right now. You don’t need 20% down to buy a home. It’s the biggest myth out there.

20% down — especially in a tight market — is going to come into play. If somebody else has 10% and you’ve got 20, that’s going to be a factor. Listing agents will usually advise sellers to go with the buyer who has the most cash on the table.

 

How long does it take to buy from start to finish?

You know what’s changed in the last three years in mortgages? Speed to closing is more important now than ever.

Application-to-closing times are shrinking. For the 12-month period ending in January 2019, average closing times for purchase and refinance loans combined were about 43 days, according to Ellie Mae, a mortgage industry technology provider.

For refi loans alone, the average was about 40 days. For the same period in 2015-2016, the averages were 46 days for all loans and 47 for refis.

 

The best real estate deals allow everyone to shake hands and walk away from the table feeling like a winner. And in what looks to be another year of uncertainty, disappointment and just plain incivility, spreading a little extra goodwill during the negotiations and at the closing table seems like a very good idea indeed.

Title Insurance Requirements for Insuring Trusts

In today’s world of busy probate courts and exorbitant death taxes, the living trust has become a common manner of holding title to real property. The following may help you understand a few of the requirements of the title insurance industry if title to property is conveyed to the trustee of a living trust.lanzajan2blog

What is a trust?

An agreement between a trustor and trustee for the trustee to hold title to and administer designated assets of the trustor for the use and benefit of one or more beneficiaries.

Can a trust itself acquire and convey interests in real property?

No. The trust is an arrangement between a trustee and the trustor. Only the trustee, on behalf of the trust, may own and convey any interest in real property. The trustee may only exercise the powers granted in the trust.

What will the title company require if a trustee holds the title to the property which is part of the trust?

A certification of trust containing the following information:

  1. Date of execution of the trust instrument,
  2. Identity of the trustor and trustee,
  3. Powers of the trustee,
  4. Identity of person with power to revoke trust, if any,
  5. Signature authority of the trustees,
  6. Manner in which title to the trust assets should be taken,
  7. Legal description of any interest in the property held by the trust, and
  8. A statement that the trust has not been revoked, modified, or amended in any manner which would cause the certification to be incorrect and that the certification is being signed by all currently acting trustees of the trust

My trust contains certain amounts of money to be given to various charities which is none of your business. Can I omit these pages?

Because many different provisions may be on the same page, the answer must be no — but if the title company requires a copy of the trust, it may accept a copy with those amounts blacked out.

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If there is more than one trustee, can just one sign?

Maybe. The trust must specifically provide for less than all to sign.

Can the trustee give someone a power-of-attorney?

Only if the trust specifically provides for the appointment of an attorney-in-fact.

What will the title company require if all the trustees have died or are unwilling to act?

If the trustor is not able to do so, or the trust provisions prohibit the trustor from appointing a new trustee, the court may do so.

How does a notary acknowledge the signature of the trustee?

Title is vested in the trustee. Hence, if the trustee is an individual or a corporation, then the new general form of acknowledgment will be prepared to reflect the intrinsic nature of the trustee.

How would the deed to the trustee ordinarily be worded to transfer title to the trustee?

“John Doe and Mary Doe, as trustees of the Doe family trust, under declaration of trust dated January 1,1992.”

Are there any limitations on what a trustee may do?

Yes, the trustee is limited principally and most importantly by the provisions of the trust and, thus, may only act within the terms of the trust. The probate code contains general powers which, unless limited by the trust agreement, are sufficient for title insurers to rely on for sale, conveyance, and refinance purposes.

 

 

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8 Best-Kept Secrets for Selling Your Home

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

Selling Secret #2: Always be ready to show
Your house needs to be “show-ready” at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

 

Selling Secret #3: The kitchen comes first
You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

Selling Secret #4: Take the home out of your house
One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

Selling Secret #5: Don’t over-upgrade
Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

Selling Secret #6: Conceal the critters
You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

Selling Secret #7: Light it up
Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.

Selling Secret #8: Half-empty closets
Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

 
 
 
 

How to Search for your Perfect Home

A new home is a chance to bring fresh energy into your life. Searching for your next home can be an exciting journey, especially with Coastal Premier Properties and our agents with professional insight of your desired neighborhood or community. Read on to find out how the home search process just got easier.

 

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Budget and paperwork

First you need to determine your budget. A home is a major investment and budget is a concern that should be openly addressed. A financial advisor can help you see the numbers clearly and plan accordingly. Pick a realistic number and stick to it so our real estate agent can show you homes that fit within your budget. Do not miss out on the opportunity to own your dream home because you were declined for a mortgage loan. The best way to avoid this scenario is to get pre-approved once you have determined your budget.

Wants and needs

When starting your home search, prioritize your wants and needs. While pine herringbone floors or a designer patio can feel like an emotional need, the truth is life would be manageable without them. Kick off your search by choosing your desired property type, then move on to the number of bedrooms and bathrooms. You have a range of square footage and lot sizes at your fingertips. All you have to do is select the features that appeal the most to you. Decide what matters to you, and change your mind if needed.

Taps and clicks 

The latest technology can help with your successful home search. Our professional agents utilize high-tech programs to provide you with the latest market analysis and wider range of homes. This convenient program allows you to find homes with the characteristics you want; search by the number of bedrooms, desired neighborhood and so much more, anywhere in San Diego! To locate your dream home faster, a positioning system allows you to draw a customized search area directly on the map, enabling you to explore homes as well as see traffic information as a means to preview your commute. To further narrow your options, you also have access to data on school districts and neighborhoods.

Personal touch

Armed with your preferences and budget, our agents can jump into the home-buying process seamlessly when you are ready.

Whenever you are ready, call us at 858-755-4663!

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Tips for a First-Time Home Seller

Homeowners don’t generally think about filling the shoes of a first-time home seller until they decide to buy a new home. Usually, the motivating factor is the need to move — due to work-related issues or the needs of a growing family — and that generally involves buying another house.

It’s when the homeowners stop to consider the move that it may dawn on them, yes, because they need to sell, they are now a first-time home seller. Selling a home is very different from buying a home. Whereas buying a home generally involves emotions and feelings, selling a home typically centers on what listing agents like to call maximizing profit potential.

 

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Price Your Home Accurately

Price your home accurately. For this, you should enlist the help of a reputable listing agent. Don’t choose your cousin’s sister-in-law, for example, who dabbles in real estate. You’ll fare much better if you select an experienced real estate agent who sells a fair number of listings, preferably in your neighborhood.

Your agent will analyze comparable sales and prepare an estimate of value often called a CMA, for comparative market analysis. It is OK to compare the Zestimate at Zillow but note the variances your agent will point out because your listing agent should have the experience and education to provide you with a more accurate opinion of value.

Home Staging Boosts Selling Power and Appeal

Ask your agent to advise you on preparing your home for sale. Most homes show better with about half of the furniture removed. If a buyer walks in the door and wonders if anybody lives in the house, you’ve done your job correctly. Consider home staging to boost your selling power and appeal. Painting is the single most effective improvement you can make. Don’t let dings in the woodwork or scraps on the walls make your home reflect deferred maintenance.

The Best Day to List Your Home

Choose the best day to list your home. This time period will vary depending on your local community, the weather, time of year, and a host of other factors, including the state of your present real estate market. It’s not like that movie Groundhog Day. You basically get one chance to present your home in hopefully its best light the first day on the market.

Ask About Your Agent’s Standard Real Estate Commission

Ask about your agent’s standard real estate commission before you get too far down the line. If it’s reasonable, consider the big picture and benefits to you to hire this individual. Check track records for performance. Don’t expect a full-service agent to discount. Getting into a contract is only the beginning; you need to make it all the way to closing.

Your home will not sell itself, despite what you may read or hear or the propensity of real estate websites to make the process appear as easy as the click of a mouse. It’s not. You don’t know what you don’t know. To get the most money from the sale of your home, you will most likely rely on the professionals you have hired to sell your home. Do not try to pit agents against each other to compete for commission or you’ll increase the chances you’ll end up with a weasel. You don’t deserve a weasel.

Be Flexible With Home Showings

Be flexible with showings. If home showings are too much of an imposition, consider going away the first weekend your home is on the market. Yes, it can feel a bit intrusive to allow strangers to trek through your home and check out your soft-closing drawers in the kitchen. The best way to sell your home is to let a buyer inside with her buyer’s agent to tour in peace and quiet. Leave the house when buyer’s agents show up. Anything you say can and will be used against you, plus, buyer’s agents prefer to show without interference.

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Allow an open house if your home is conducive to an open house. Not every home is a viable candidate for an open house. If your home is located in an area close to major traffic, that is generally indicative of a reasonable expectation that the open house signs will pull in visitors. Ask your agent if she advertises the open house online. Many a home buyer has had no desire to buy a home until she spots an open house and subsequently falls in love.

 

Insist on Professional Photography

Of course, if you have hired a top-notch listing agent, your agent most likely already provides professional photos. It’s not enough to just get the angle right in the photo, the most popular photos are rich in color and depth, and they entice. Ask to approve the virtual tour or photo tour before it publishes.

Review Your Listing Online

Look at your home listing on various websites to make sure the information conveyed is accurate. Agents do their best to ensure accuracy, but since it is your home, you know the details better than anyone. If you spot a feature that is missing, contact your agent immediately and ask for an inclusion.

Respond Promptly to a Purchase Offer

Try to respond promptly to a purchase offer. Many offers contain a date by which the offer expires. Notwithstanding, it can drive buyers crazy if they are forced to wait for a seller to decide whether to accept their offer or to issue a counteroffer. Remember, if you are selling because you need to buy a new home, you are no different when you are a home buyer yourself.

Line Movers Up Early

Line up your movers early. If you are thinking about moving at the end of May, for example, which is the busiest time of the year for movers, you might find it is impossible to locate movers for the day you want. You can start packing before your home hits the market, which will give you a head start on the process. It will also give you peace of mind to be prepared. Selling can be stressful enough.

Coastal Premier Properties Welcomes Carl Dirks!

Coastal Premier Properties is pleased to welcome Carl Dirks! Carl will be working out of our Carmel Valley office.

Carl Dirks Welcome

Bio:

California native, former surface-line Navy officer stationed in Coronado and San Diego, Carl is familiar with real estate as the son of a Broker in the Bay Area when Silicon Valley was born and grew into the mega business area that it is today. Masters degrees in Business Administration and Science. Carl’s passion is growing business in new areas with effective marketing and customer-focused selling, helping buyers and sellers reach mutually beneficial transaction closings, and seeing results from honest work and effective business processes. He looks forward to working with Coastal Premier Properties and the North County markets.

 

Click here to contact Carl! For more about Coastal Premier Properties, visit our website!