What Should I Expect From My Realtor?

Q. We recently decided to start looking for a home and began calling on a few properties for sale.  As a result, we have one agent who is sending properties by email.  The problem is whenever we want to see one of the properties, he is always busy with his kids.  He also says that we need to go get pre-qualified, but we don’t know where to go.  He is a nice guy but we feel like we are stuck.

A.  You are right to question this agent’s ability or level of desire to represent you well in the biggest purchase you have ever made.  There are lots of agents out there, but not as many who operate professionally and as a business.  Sadly, the general public is often unaware of this and end up in a situation like yours and do nothing about it. 

It is very important to feel good about your relationship with your agent and to know that your agent hasyour best interests in mind.  While no one should be expected to work on demand, a professional agent will have a backup system and other agents in place to accomodate their client ‘s schedule on those occasions when they are not available. A good agent will also personally introduce you to one or two reputable lenders in the area and will help walk you through the process.

You should feel free to look around for another agent who is as excited about you buying a home as you are.   I recommend that you look for an agent who is experienced and who has a good track record of selling homes even duing the past couple of years.  A good agent will not tell you that their performance is based on the market because a good professional agent should be able to naviagate through any market, adjusting their game plan so that they continue to sell homes and serve their clients.  If your agent is telling you that they haven’t sold much because of the market, that is a sign that they may not have the skills necessary to give you the representation you need.

Once you find an agent that you feel comfortable with, stop speaking to other agents.  A great agent will give you what you need to have a successful experience but you should return the trust by only working with them from that point forward.

Nancy Puder is the owner and broker of Signature Properties, a prestigious real estate sales and property management firm in Arroyo Grande, CA. You may contact her at (805)710-2415 or email Nancy@NancyPuder.com Www.SignatureProperties1.com. Your calls are always welcome!

Reasons that sellers should list their homes in January. The holidays are behind us again and here we are about to experience a new year in 2012.  If you have been contemplating on whether to sell this year, this is a good time to put your home on the market.  Let me explain why.

One reason is that many buyers have put their home search on hold over the holidays.  As the decorations are being put away,  most people reflect on the past year and think about how they would like to improve their lives over the next 12 months. Often, these thoughts include a move whether up or down or for the first time.

Another reason to sell now is that buyers have pent up energy after trying to gauge what the market is going to do over the past couple of years.   They are beginning to realize that prices have stabilized in many areas, homes are affordable and interest rates are historically low.   Those who have been waiting for the bottom are making the decision to go forward now.

The mortgage interest deduction is a big factor as people are beginning to think about what they will pay in taxes soon.  The mortgage interest deduction is still a wonderful opportunity to pay less to Uncle Sam while enjoying the benefits of owning your own home.  Most buyers realize this and resolve to get into a home so that they will have a big tax deduction to write off next year.

Retirement is also a factor in buyer decisions to move forward at the first of the year.   As we all know, the Central Coast of California is one of the most beautiful areas that someone can choose to retire in.  Many of these buyers are purchasing their retirement home now and leasing it until they are ready to actually move.

After a long slump in the market, this buyer energy is exciting and should be taken advantage of.  As in any recovery, it usually surges, slows down, sometimes stops and then gets going again.  Timing can be everything so this is a good time to take action.

If you need to short sale your home, this is also a good time to make a move in that direction.  There are new laws to protect homeowners from the banks going after them for the difference owed.  This is a good time to make a decision on whether to go ahead and sell  or not and make a plan for you and your family.  If this is your situation, refer to my last post on Short Sale or Foreclosure.

If you need help to sort it all out, contact me for a free consultation and I will do all I can to help guide you to the best decision and show you how to accomplish your goals.  Nancy Puder at (805)710-2415 Nancy@SignatureProperties1.com 

Christmas 2011 — Birth of a New Tradition

A  friend of mine sent this to me and I wanted to share it with you and your friends.

As the Christmas & Hanukkah holidays approach (& other gift giving events), the giant Asian factories are kicking into high gear to provide Americans with monstrous piles of cheaply produced goods — merchandise that has been produced at the expense of American jobs.  This year let’s make a difference.   This year, why don’t we Americans give the gift of genuine concern for other Americans.   There is no longer an excuse that at gift giving time, nothing can be found that is produced by American hands. 

Yes, there is!  Join me this Christmas 2011 — Birth of a New Tradition

It’s time to think outside the box, people.  Who says a gift needs to fit in a shirt box, wrapped in Chinese produced wrapping paper?

Everyone — yes, EVERYONE gets their hair cut.   How about gift certificates from your local American hair +/or nail salon or barber? Gym membership?   It’s appropriate for all ages who are thinking about some health improvement.  How about a massage?  I would love that! Who wouldn’t appreciate getting their car detailed?   Small, American owned detail businesses and car washes would love to sell you a gift certificate or a book of gift certificates.

What teenager wouldn’t like a few certificates to the local pizzeria?

Does someone on your list want to learn how to play golf…tennis…horseback riding…sailing?? Think lessons.

Are you one of those extravagant givers who think nothing of plonking down the Benjamins on a Chinese made flat-screen?   Perhaps that grateful gift receiver would like his driveway sealed, or lawn mowed for the summer, or driveway plowed all winter, or rounds at the local golf course, or gifts from the gardening center.

There are a bazillion owner-run restaurants — all offering gift certificates.  And, if your intention isn’t the fancy eatery sort, what about a half dozen breakfasts at the local breakfast joint.   Remember folks, this isn’t about big National chains — this is about supporting your home town Americans with their financial lives on the line to keep their doors open.

How many people couldn’t use an oil change for their car, truck or motorcycle, done at a shop run by the American working guy?

Thinking about a heartfelt gift for mom?   Mom would LOVE the services of a local cleaning lady for a day.  How about a few hours from a local handyman?

My computer could use a tune-up, and I KNOW I can find some young guy who is struggling to get his repair business up and running.

OK, you were looking for something more personal.   Local crafts people spin their own wool and knit them into scarves.   They make jewelry and pottery and beautiful wooden boxes.  Go to the Arts & Crafts & Street Fairs & Farmers Markets.

Plan your holiday outings at local, owner operated restaurants and leave your server a nice tip.   And, how about going out to see a play or ballet at your hometown theatre? 

Musicians need love too, so find a venue showcasing local bands.

Honestly, people, do you REALLY need to buy another ten thousand Chinese lights for the house?   When you buy a five dollar string of lights, about fifty cents stays in the community. If you have those kinds of bucks to burn, leave the mailman, trash guy or babysitter a nice BIG tip.

Donate to your church, feed the homeless, or start any other tradition of giving during Christmas, but let’s keep it going throughout the entire year for we are blessed.

You see, Christmas is no longer about draining American pockets so that China can build another glittering city.  Christmas is about caring about US, encouraging American small businesses to keep plugging away to follow their dreams.  And, when we care about other Americans, we care about our communities, and the benefits come back to us in ways we couldn’t imagine.

Let’s make THIS the new American Christmas tradition.

This is a revolution of caring about each other, and isn’t that what Christmas is about?

Do You Need a Push?

Summer is upon us and I can’t tell you how it got here so fast!  It made me realize that if I have any clients thinking of selling their property, it would be best for them to make a move to get that started right away.  With the kids going back to school in mid-August, this is the best selling season and August will be here the blink of an eye.  

With the potential expiration of FHA loan limits in October which could press the market downward, this may be a window of opportunity to sell.  Many may not know that when the FHA  loan limits were raised a few years ago it opened up the opportunity to buy for a lot of people who would not have been able to get a loan otherwise.  FHA loans are government insured and the qualifying guidelines require a relatively low down payment and a slightly lower FICO score than a conventional loan.

Since the loan limits were raised to reflect home values on the Central Coast, the number of sales that have involved an FHA buyer has significantly increased and helped to keep our market going forward.  Although I’m not overly concerned about it, there is a possibility that we may feel the change for a short while until someone comes up with another plan.  The banks, I’m quite sure, will offer an alternative because if they aren’t lending, they aren’t making any money.

The point is that if you need a little push off the fence, today would be a good day to contact your real estate professional to discuss your optons.  I am also available to discuss your real estate needs. You may contact me anytime at (805)710-2415. Your calls are always welcome!

Nancy Puder is the Owner Broker of Signature Properties, a prestigious real estate sales and property management company in Arroyo Grande CA.  www.SignatureProperties1.com or contact Nancy directly at (805)710-2415

Nancy Puder
Signature Properties
(805)710-2415 direct line
(805)474-0100 office
www.SignatureProperties1.com

124 S. Halcyon Rd. Suite A
Arroyo Grande, CA 93420

The California Association of Realtors (CAR) has announced that foreclosure files have dropped 12.5 percent and sales on the court steps have declined by 24.5 percent.  Those facts combined with the five consecutive months of home sales gains (September 2010-January 2010) is reason to think positively about the real estate market. 

Many are taking advantage of the low interest rates that are averaging right now around 4.78%.  Interest rates are predicated to rise to around 5.78% before year-end.  I’m not a mathematician, but these numbers tell me that I will be paying much more for the same house next year than I will this year!   Perhaps I should consider getting off the fence?

Some buyers have shared with me that their sense of job security is preventing them from moving forward and making a purchase.  That is a valid concern which I can understand.  To alleviate some of these concerns, CAR has made available to home buyers a mortgage insurance plan, available upon completing a sale, which will pay up to 6 months of your mortgage payment if you find yourself unemployed.

The truth is that in most cases, none of us know what tomorrow will bring   The question is should you choose to worry  about the future and not do anything, or should you,  perhaps, carefully analyze your situation with  a respected professional who will help you decide if  this time might be right for you to make a move.

Nancy Puder is the owner/broker of Signature Properties, a prestigious real estate firm located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420.  You may reach her at (805)710-2415 or visit the website at www.SignatureProperties1.com

Is Foreclosure & Short Sale the Same Thing?

One of the most common misconceptions today is that an REO and a Short Sale is the same thing.  Some may know that they are different from each other, but really don’t understand why. I thought today that it might be a good idea to just explain it in simple terms.  The acronym REO means Real Estate Owned.  It is a term used by banks when they have completed a foreclosure on a property and they are now the owners of the property.  If you are purchasing an REO property, you are buying a property that the bank now owns

A short sale happens when the seller owes more on the property than they can sell it for.  For example, if they bought the house a few years ago and have a loan on it of $470,000, and now the house is worth $400,000, the house will be offered up for sale at the current market value of $400,000, subject to the approval of the lender.  This means that when a reasonable offer is received and accepted by the seller, it must then be submitted to and accepted by the lender also.  The reason is that the lender will be, in most cases, receiving less than the amount owed to them at the time of the sale. 

Foreclosed homes (REO’s) can be purchased normally and escrow can usually close in 30 days or less.  A short sale, however, can take from 30-120 days to close escrow.  In some cases, it could be longer.  As a Certified Distressed Property Expert (CDPE), I have extensive training and experienced in foreclosures, Short Sales and can even help guide you through a loan modification.  If you or someone you know is in this situation, please feel free to contact me for a complimentary and confidential consultation.

Nancy Puder is the owner/broker of Signature Properties Real Estate Sales & Property Management, located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420.  You may reach her at (805)710-2415, email Nancy@SignatureProperties1.com

Recovery is on the Move!Recovery on the Move!
This time it’s really happening. Existing home sales have been up for the past 5 months and my phone hasn’t stopped ringing for the past several weeks. Offers are coming in on listings and there seems to be a sense of urgency in the buyers that was not present during the last half of 2010.
It’s about time we had some good news for homeowners! The freefall of prices for the past couple of years has stunned all of us, but thankfully, the market seems to have definitely stabilized and all indicators are that we are on our way back up. It’s important to note, however, that even though the housing market is improving, it will probably take a few years to see any significant increase in property values.
Buyers are finally realizing that prices, most likely, won’t go any lower on the Central Coast and with interest rates on the rise, now is the time to get that home that they want. I believe that buyers who continue to sit on the fence will pay more per month for the same house next year that they are considering a purchase of today.
If you are not sure how to begin the process of buying or selling, you may contact Nancy Puder at (805)710-2415 for a free real estate consultation.
Nancy Puder is the owner/broker of Signature Properties Real Estate Sales & Property Management, located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420. You may reach her at (805)710-2415 or visit her website at www.SignatureProperties1.com

A Spirit of Independence
In creating Signature Properties, the Central Coast’s premier independent real estate and property management company, Nancy embraced the spirit of independence. She did so not only in terms of not being affiliated with any of the large, corporate-owned real estate companies, but also in the unique culture and spirit of autonomy that defines the Signature Properties philosophy. Together with her husband and company co-owner, Larry, Nancy strongly believes that no two people are the same, and that’s why each client must be treated accordingly. There are no cookie cutters to found here.

“Some people only see black and white”, Nancy says. “I’ve always believed that life is shades of gray. Everybody has their own story, different situations, unique goals. It’s our job to find out what those things and then develop a plan of action to help them achieve them”.

A Wealth of Experience
Nancy began here real estate career in 1978, and since that time, she has excelled both in sales and property management. For many years, she worked under the banner of other companies, but soon found that her actions and ultimately, her potential, were limited in that scenario. That’s why Nancy and Larry empowered their agents and associates to do business as they see fit. The team of professionals at Signature Properties is comprised of knowledgeable experts who share Nancy and Larry’s philosophy and cherish the freedom they possess within their careers. The result is the ability to tailor their service to each client and achieve a higher level of satisfaction for both the client and themselves.

Full Service from Start to Finish
The associates at Signature Properties don’t believe in doing things halfway. That’s why, whether you’re buying or selling a home or taking advantage of Signature’s outstanding property management services, you can trust them to take care of all the details and make the entire process as smooth as possible. That’s the Signature way. “We do our homework up front”, Nancy says. “We always try to solve problems before they become problems”. For property management clients, that means finding a higher quality of tenant and going out of their way to ensure the satisfaction of both the tenant and the property owner.

High Standards, Distinctive Results
Throughout her career, Nancy Puder has always held herself to a higher standard. Today, those standards are reflected every time you see a Signature Properties sign in front of a home. That’s because Signature Properties sign in front of a home. That’s because Signature Properties doesn’t put its name on just any property; it has to be held to a certain standard of excellence. The same goes for each associate and staff member throughout the company. The result is a reputation for excellence in both the properties they represent and the level of service they provide.

For all your Central Coast real estate needs, don’t settle for an ordinary level of service. For Service as Unique as You, look no further than Signature Properties. Contact us today to schedule a private consultation.