Duarte/Downey Real Estate Agency, Inc



Posted by Duarte/Downey Real Estate Agency, Inc on 6/3/2018

As a first-time home seller, you may feel the need to make a counter-offer based on a homebuyer's initial proposal. However, if the homebuyer rejects your counter-offer, you may be forced to return to square one in your efforts to sell your house and obtain the best price for it.

A homebuyer's rejection of a counter-proposal is not the end of a home selling journey. And for home sellers who know how to proceed after a counter-proposal is rejected, they may be able to streamline the process of getting the optimal price for any residence, at any time.

Now, let's take a look at three tips that a first-time home seller can use to handle a rejected counter-proposal on his or her house.

1. Consider the Homebuyer's Perspective

Why did a homebuyer reject your counter-proposal? A first-time home seller should consider why a homebuyer decided to move on from a house after a counter-proposal was submitted and learn from the experience.

For example, if a home seller held firm on his or her home price, a homebuyer may have been unwilling to pay this amount. Thus, a home seller may want to consider lowering the price of his or her residence in to help stir up interest from large groups of potential homebuyers.

2. Review All of Your Options

A first-time home seller who submits a counter-proposal and receives a rejection from a homebuyer still has plenty of options, regardless of the current state of the housing market.

For instance, a home seller can keep the price of his or her house intact. Then, this home seller can await potential offers that match or exceed his or her expectations.

On the other hand, a home seller may choose to conduct assorted home improvements to upgrade his or her house's interior and exterior. These upgrades can make a world of difference in the eyes of homebuyers, and as a result, may make a home more attractive than other residences that are currently available.

3. Collaborate with a Real Estate Agent

A real estate agent is a difference-maker for a first-time home seller, and for good reason. This housing market professional can offer expert guidance that a home seller may struggle to obtain elsewhere and ensure that a property seller can make informed decisions at each stage of the home selling journey.

With a real estate agent at your side, you can map out your next steps in the home selling journey accordingly.

Typically, a real estate agent will be able to tell you why a homebuyer rejected a counter-proposal on your residence. As such, you can learn from the experience and gain the insights you need to prevent the same problem from happening once again.

Selling a home can be difficult, particularly for those who have listed a residence for the first time. A real estate agent will help you take the guesswork out of selling your residence and do everything possible to ensure you can get the best possible price for your house.

Ready to overcome a rejected counter-proposal on your home? Use these tips, and you can proceed with confidence along the home selling journey.




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Posted by Duarte/Downey Real Estate Agency, Inc on 5/27/2018

Selling a home for the first time can be tricky. In fact, first-time home sellers often make mistakes that prolong the home selling process. Perhaps even worse, these errors may cause a home seller to miss out on opportunities to optimize the value of his or her residence.

Now, let's take a look at three common mistakes that first-time home sellers make, as well as ways to avoid these problems.

1. Setting an Unrealistic Initial Asking Price

Although you might have paid a hefty sum for your house a few years ago, what your home was worth then is unlikely to match its current value. However, if you set an unrealistic initial asking price for your residence, you risk alienating dozens of potential buyers.

Before you set a price for your house, it pays to perform plenty of housing market research. That way, you can see how your home stacks up against the competition and price it based on the current real estate sector's conditions.

Furthermore, you may want to conduct a home appraisal prior to listing your house. Following a home appraisal, you'll receive a property valuation to help you establish a competitive price for your residence.

2. Failing to Provide Full Details About Your House

No home is perfect, and a home seller who withholds information about his or her residence risks wasting precious time and resources. To better understand why this may be the case, let's consider an example.

If a home seller fails to include information about a faulty heating and cooling system in a home listing, a buyer will be unaware of the problem. A buyer then may submit an offer on this house that a seller accepts. But during a home inspection, a property inspector likely will discover the defective heating and cooling system, which leads the buyer to rescind his or her offer. And at this point, the seller will have to restart the home selling process from square one.

When it comes to selling a home, it helps to be honest. If you provide full details about your residence, you can help a buyer make an informed decision and reduce the risk of that a purchase agreement will fall apart after a home inspection.

3. Choosing an Ineffective Real Estate Agent

A real estate agent should have a seller's best interests in mind. As such, this housing market professional will collaborate with a seller throughout the home selling journey to ensure a seller can optimize his or her earnings.

Unfortunately, not all real estate agents possess the same skills. But if you evaluate a variety of real estate agents, you can increase the likelihood of finding one who matches or exceeds your expectations.

Employ a real estate agent with a proven reputation. And if you're uncertain about whether a real estate agent can help you achieve your home selling goals, it usually helps to request client referrals from this housing market professional.

Streamline the process of selling your home – avoid the aforementioned first-time home seller mistakes, and you can boost your chances of enjoying a quick, profitable home selling experience.




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Posted by Duarte/Downey Real Estate Agency, Inc on 5/20/2018

Owning a second home or vacation home is the dream of many Americans hoping to retire in style. However, owning a second home can also be a huge financial asset and even an added form of income if you’re savvy with the rental process.

What stops most of us from buying a vacation home in our ideal getaway? The funding, of course. But, there are ways to plan ahead to ensure you’ll be ready to take the plunge and purchase a second home when the time comes.

In today’s blog post, we’re going to be talking about the steps to buying a home away from home and give you some tip on how to accomplish this goal in the most financially-sensible way possible.

1.  Location is Key

When you buy a second home, you take on all the responsibilities of homeownership a second time. Since you won’t be around every day to tend to maintenance tasks and troubleshoot problems, you risk discovering costly repairs that could otherwise be avoided.

The most common issues to be concerned with are frozen pipes in northern climates, flooding in coastal areas, and problems like pests that can be found just about anywhere.

Depending on your budget, you might want a home you can drive out to on the weekends, meaning somewhere close by to your primary home. This option also makes it easier to stay up-to-date on home maintenance tasks before they become an issue.

2. Try before you buy

If your ideal vacation home is in an area you’re not totally familiar with, it’s a good idea to visit the neighborhood, talk to the locals, and gain their perspective on the area before buying.

This trip will also give you a sense of what you can expect to spend each time you visit the home. And, if you plan on renting out the property when you aren’t using it, you’ll be able to gauge what a reasonable rent price is for the location.

3. Earning income from your vacation home

Making extra cash from a home that you get to use pretty much whenever you want. Sounds like a dream, right? It can be if done properly, but you’ll need to ensure a few things before you can start earning income from your vacation property.

First, be aware that investment properties often require a larger down payment (typically 30%). Lenders also charge extra interest on homes that will be rented out.

Finally, there are local and state-level laws you’ll need to adhere to. These laws are designed to protect your interests as well as the people who rent out your property, so make sure you use a standard rental agreement for your area.

4. Making an offer

You’ve been here before. Once you’ve decided on a home, it’s time to start crafting your offer and negotiating with the seller’s agent.

However, before you pick a number, do some research on all of the expenses you’ll be paying on the house in question. Property taxes, homeowners association dues, utilities, and any other costs should be on your radar before determining if it’s the right home for your budget.

You’ll also want to be aware of the stipulations of renting out a property you own. This includes reporting income from renting your home to the IRS.


Now that you know the steps you’ll need to take to move toward your goal of buying a vacation home, you’ll be better equipped to make decisions that are best for you and your family’s future.





Posted by Duarte/Downey Real Estate Agency, Inc on 5/13/2018

If you plan to sell a house, it can be easy to try to rush through the home selling cycle. However, doing so may do more harm than good, particularly for home sellers who want to maximize their profits.

Ultimately, a wait and see approach can be beneficial for a home seller. Some of the key reasons to consider taking a wait and see approach to selling a house include:

1. You can clean your house from top to bottom.

A messy home is unlikely to generate interest from large groups of homebuyers. Comparatively, a neat, tidy and pristine home is sure to stir up plenty of interest once it reaches the real estate market.

If you spend some time enhancing your house's interior and exterior, the benefits can be substantial. In addition to making your residence more attractive to homebuyers, you may be able to raise your chances of receiving offers at or above your initial asking price.

To clean your house's interior, you should spend some time mopping the floors, wiping down walls and ceilings and doing whatever you can to make each room look great. Meanwhile, to improve your house's exterior, you may want to mow the front lawn, trim the hedges and do everything possible to ensure your house has plenty of curb appeal.

2. You can conduct a comprehensive home appraisal.

A home seller who immediately adds a residence to the real estate market might not understand what his or her house is worth based on the current housing market's conditions. As such, this home seller risks pricing his or her house too high or too low.

Conversely, if you perform a home appraisal, you can set a competitive price for your residence from day one. This appraisal also will enable you to identify your home's strengths and weaknesses and find ways to transform assorted weaknesses into strengths.

Employ an experienced home appraiser to evaluate your house – you'll be glad you did. With a top-notch home appraiser at your side, you can receive the expert insights that you need to price your house appropriately.

3. You can discover the right real estate agent.

When it comes to selling a house, why should you be forced to work with an inferior real estate agent? Unfortunately, if you rush to add your residence to the real estate market, you may select the first real estate agent that you meet. And in this scenario, you risk making a poor choice.

On the other hand, a home seller who takes a wait and see approach can spend some time evaluating many real estate agents. Then, this home seller can make an informed selection and increase his or her chances of enjoying a successful home selling experience.

There is no reason to hurry through the home selling journey. Instead, deploy a wait and see approach, and you should have no trouble remaining patient and capitalizing on the right opportunities to maximize the value of your house.




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Posted by Duarte/Downey Real Estate Agency, Inc on 5/6/2018

Being a homeowner comes with a lot of responsibility. You'll need to keep up with your bills, cleaning and maintenance, and have a keen eye for managing your finances. What many people don't tell you when you buy a house is that you could also become the victim of scammers who specifically target homeowners. Like computer viruses, scams are constantly evolving to stay one step ahead of the game. However, many of them rely on behavior that should raise a red flag for homeowners. In this article, we'll cover some common scams that affect homeowners and tell you how to avoid them to keep you, your home, and your wallet safe.

You've won!

Congratulations! By reading this article you've won an all-expenses paid trip to the destination of your dreams. One of the most common scams affecting homeowners come in the form of phone calls, mail, or even door-knockers informing you that you've won some kind of prize. Unless you've specifically entered to win a certain prize, you can almost be certain that this is a scam.

Identity crisis

We've often heard of the dangers of identity theft, but homeowners in particular are an at-risk demographic. Identity thieves attempt to steal your personal information in order to commit fraud or crimes. To avoid identity theft, be responsible with your mail. Always shred mail with personal data and be sure to have someone take care of your mail for you when away from home for extended periods.

I noticed your roof needs to be repaired

Many scams come in the form of people knocking on your door to offer a great deal on a service. People who solicit you and ask to be let into your home or onto your property to "inspect" part of your home should never be allowed in. They may actually be a roofer attempting to convince you to repair your roof (regardless of whether it needs to be repaired). Or, they could be a would-be burglar scoping out your residence. These scammers will attempt to sell you anything from "subsidized" and "energy efficient" home energy products all the way down to fixing imagined water/moisture issues in your basement.

Make $60k a year working from home!

Work-from-home jobs do exist, and they're growing in number as technology makes it easier and more efficient than traveling. However, some job offers are too good to be true. Be wary of job offers that require you to enter personal information like your social security number before ever having met the employer. Many of these "too good to be true" jobs can be spotted when they ask you for money to get started. They may say to need to pay for your own training but then can make thousands, or will ask for a company buy-in that will pay off later. Regardless, never give money to a potential employer.

I came to read the meters

Someone in a safety vest with a name tag and clipboard knocks on your door and says they're from the energy company, water company, etc. They seem legitimate and tell you how important it is to have your meter read. The might even say you're eligible for a refund or subsidy. It's important to always ask representatives to show you their ID or ask them to call and make an appointment before letting them enter your home.




Tags: home   scams   fraud   scammers   homeowners  
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