Canyon Lake Real Estate Trends Issue CL05

Real Estate Trends Newsletter MORE USEFUL REAL ESTATE INFO AT: WWW.BEVINSGROUP.COM AMAZING CANYON LAKE HOMES FOR SALE Arguably the Most Spectacular View in Canyon Lake Real Estate Trends Keeping you up to date with useful real estate trends and intelligence 7 Reasons Your Home Isn’t Selling One of these mistakes could be slowing your sale By Justin Bevins Selling a house can’t be that hard, right? Especially if you hire a real estate agent who handles all the phone calls, showing appointments, negotiations, paperwork … Well, not so fast. A house should be in tip-top shape if you want to sell, and sell in a reasonable amount of time. And depending upon the current condition, it may mean a lot of cleaning, an investment in repairs, and possible updates to certain features. to see the amazing home that comes with this spectacular view, visit: www.22576InspirationPoint.com Single story, simple interior, low maint. Large home with room for everyone Otherwise you might find your house sitting on the market for a long time… which can impact your house negatively. And all this starts with price. Blue-sky price tag - You love your home. You’ve been there for years. Memories of your life there are abundant. Unfortunately, those memories mean nothing to buyers. They don’t share the same memories as you do. Therefore, they won’t understand why your home is priced over market … and simply ignore it. Pricing your house right, however, will overcome any objections, and you’ll usually see interest and multiple offers. Loud or obsolete decorations - A great house can be missed if it is drowning in bad colors, dreadful window treatments, and gaudy furniture. Single story with modern kitchen, laundry room, 3 car garage and nice clean interior. Beautiful yard with fruit trees and built in spa. Over 5000 s.f. with a separate mother-in-laws quarters for extended family or guests. Close to Sierra Park and and the lake. Visit www.BevinsGroup.com for more details or contact Justin at 951-326-0521 Visit www.BevinsGroup.com for more details or contact Justin at 951-326-0521 And Coming Soon... Ready to move in single story home with low maintenance yard close to lodge and other popular Canyon Lake amenities $299,000 Download updated market reports, the latest listings, and get a free market valuation for your home online at www.BevinsGroup.com INSIDE THIS ISSUE 7 Reasons Your Home Isn’t Selling Mortgage Banker, Broker, or Retail Bank? The Most Spectacular View Home PLUS: Lake Your Canyon port Market Re Justin Bevins, REALTOR®, BRE #01407424 tel [phone]  email [email protected] www.BevinsGroup.com If your property is currently listed with a real estate broker, please disregard this notice. It is not our intention to solicit the offerings of other real estate brokers. Equal Housing Opportunity. Paint over loud colors with neutral tones and remove tacky furniture. Consider spending money when it will help bring the look of your home up to date. Disrepair - There is a law to owning a house: it will decay. Luck and construction quality have little to do with it. Homes simply fall apart. That means if you want a home in good condition, then you need to stay on top of the repairs – and not wait until it comes time to sell. Cracks in the sinks and tubs, the warping wood on the backyard deck, broken roof tiles, shabby carpet, leaky windows … if you don’t stay on top of these repairs, they add up. Put a house in this condition on the market, and price it too high, it will sit. Buyers notice these things and expect you to price accordingly if you don’t make the repairs. Bad location - A great house and bad location don’t mix. Neighborhood nuisances, road noise, smells from the local dairy farm, are all things that can make the location less than appealing. There is a good chance you’ll have to reduce your price in order to sell your house. A neighborhood that goes to pot also doesn’t bode well for a great house. This will suck any value your home might have. Not to mention if you have renters you’ll find it difficult to show your house since renters don’t like the thought they’re going to be kicked out, and probably will be less than happy to clean up to show the house. Terrible design - Your income and growing family might have forced you to build additions that were practical to you, but not anyone else. You might have eaten up part of the driveway, or you have to walk through a bedroom to get to the living room. Odd floor plans and quirky lot configurations can block a sale, too. Upgrading too much - Upgrading a home usually leads to higher value. However, if you exceed in value the homes around you, don’t expect your home to continue to rise in value. People buy homes for the home itself, but they also buy homes for everything around it. If the houses around your home aren’t equal or greater in value than your home, you might have to step down from your luxury price to move it. Bad photos - More than likely buyers will look at your home online before they see it in person. Attractive photos are critical. Clean up the mess in your house before you take photos. Declutter your house. In fact, you should hire someone to stage your house, and then hire a professional photographer. And experts say that less is more: eight photos that highlight the best part of your house are all you need. Leave some mystery. Prepare your house as best you can in order to sell quickly. Some things you can’t always control, but spend a few dollars and be creative and a quicker sale, at a higher price could be the result. -Justin ISSUE NO. CL05 MAY 2014 Brought to you by Justin Bevins Mortgage Corner Mortgage Banker, Broker or Retail Bank? Which one should you choose in this mortage environment? B y Dave Fitzpatrick QUOTE OF THE WEEK... “The key to everything is patience. You get the chicken by hatching the egg, not by smashing it.” --Arnold H. Glasow INFO THAT HITS US WHERE WE LIVE... It’s taken a bit of patience to see Pending Home Sales go up after months of stagnant activity. But go up it did in March. The Pending Home Sales index of contract signings shot up 3.4% for the month, its first gain in the last nine months. The National Association of Realtors (NAR) chief economist explained: “After a dismal winter, more buyers got an opportunity to look at homes last month and are beginning to make contract offers.” The median purchase prices have risen slightly and steadily. Interest rates are pretty much in the areas as previous weeks....nothing amazing, and nothing that is ‘deal killing’. You can pretty much count on your ‘government loans’ (FHA, VA, USDA) to be in the low 4% area; conventional agencies (FNMA and FHLMC, or Fannie Mae and Freddie Mac) in the mid 4% area, and the FNMA High Balance and Jumbo rates to be in the latter/upper 4% area. (continued on page 3) Dave Fitzpatrick Wallick and Volk, Temecula 27708 Jefferson Ave. #105 Temecula, CA 92590 Ph: 951/296-6066 Fax: [phone] www.davidfitzpatrick.wvmbtemecula.com NMLS #259057, Licensed by the Dept. of Corporations under the California Residential Mortgage Lending Act. License #4130785. Corporate NMLS 2973. Notice: This is not an offer to lend or extend credit. All loans are subject to credit approval.