Tuesday, October 21, 2008

Special Announcement!

Extra - Extra! Read all about it! Stay tuned for the 11:00 news special report....

The Bottom is Here!

Seriously, do you think it's going to happen like that? I have met many, many buyers over the past year and everyone I talk to and everyone they talk to is "waiting for the bottom". I always ask, "How will you know when it's the bottom?" They usually look at me like a deer in the headlights.

The reality is that there will be no big announcement. The bottom will be different across the nation, in every city and even neighborhood by neighborhood. You just have to know the market, which I do. That's my job!

In my area, I believe we are nearing the bottom overall and heading towards a stabilization phase of the market. Inventory is diminishing and where there are no listings to drive down future prices, stability will occur.

There is also HUGE pent up demand in this area. Homes are selling and there are multiple offers on many of them. Now is the time to buy if you plan on holding the property for more than two years. Right now qualified buyers still have leverage with the existing inventory. When the sheep start following the herd and start buying, less supply combined with higher demand will result in rising prices. Econ 101.

Don't be a sheep and buy when everyone is ready to buy. Buy when everyone is ready to sell.

Call me today to discuss your real estate strategy! (805) 559-2318

Don't go blindfolded to the bargaining table.

Everyone knows realtors earn commissions for the homes they sell, but many people don't realize who pays them and how the final amount is determined.
When a seller enters into a listing agreement to sell their home through a real estate broker, the listing agreement spells out how much compensation will be paid by the seller to the listing broker upon a successful close of escrow. This is one of the costs of selling a home.
The listing agreement also spells out how much of that total compensation will be shared with another broker whose agent brings the buyer. If the buyer is represented by their own agent, the buyer's agent will receive the compensation published in the MLS listing that was agreed upon by the seller and the listing broker.
If the listing broker represents the buyer, unless otherwise agreed to at the time of the listing, the listing broker will receive the full compensation and will not have to share it with another agent.
The listing agent has a responsibility to look out for the seller's best interest and bring them the highest possible sales price. A buyer should also have someone looking out for his best interest to negotiate the best possible price, terms and conditions on his behalf.
Many buyers don't know that the services of a professional realtor are free to them. In order for a buyer's agent to earn a commission they must meet prospective buyers, build a relationship with them and must do a good job to earn their trust. Buyers should have the confidence in their agent to negotiate a successful contract on their behalf and look out for their best interests throughout the transaction.
In California, what is referred to as "dual agency" is perfectly legal. The listing broker can first represent the seller, and then if a buyer comes along, that same agent can represent the buyer too. Although legal, it is a slippery slope when it comes to whose best interest is really being considered and sometimes it may not be easy to differentiate because everyone involved has a different perspective.
There are some people that believe they will get a "better deal" buying directly through the listing agent because the seller won't have to pay the buyers agent commission. Remember, the seller has agreed to pay a commission to the listing broker, irrespective of agency relationships. The listing broker may or may not reduce his commission, and he may or may not reduce the sales price by that amount, and he may or may not disclose seller's true bottom line. A lot depends on the integrity and honesty of the listing agent. Buyers are leaving a lot of grey areas wide open.
Finding a home is only one step in the entire home buying process. Why not take time to also search out a good realtor? After finding an agent that fits, stick with him and let him not only help find a home and look out for your best interest at the bargaining table.
But don't give the agent blind trust. Ask questions, conduct investigations, and seek out all of the information before making any major decision.

Thursday, July 3, 2008

20 Questions to Ask a Realtor Before Listing Your Home

20 Questions to Ask Before Listing Your Home

For most people their home is their single largest investment, yet when they are ready to sell, most people take little care in finding the right person for the job. Selling your home can sometimes be a challenging and frustrating experience. But with the support and guidance of an experienced professional, it can be a smooth and enjoyable process.

When you decide to sell your home, you should interview several real estate agents to determine who will do the best job for you in your unique situation. It is important to choose a real estate agent who is not only knowledgeable about the market and experienced in handling the complexities of a real estate transaction, but it is also important to choose an agent who listens to your needs, shows professionalism, and whose personality is complimentary to yours. After all selling your home should be a joint effort.

Remember, not all real estate agents are the same. Each is an independent contractor with his or her own experience, education, and ways of doing business. By asking some key questions, you will be able to determine who will be the right person for the important job of selling your home.

Below are 20 very important questions you should ask when interviewing prospective real estate agents.

1. Are you a full-time professional real estate agent or just a part-time sales agent?

2. Are you a Realtor® (member of the National Association of Realtors) and a member of all local associations with full MLS (Multiple Listing Service) access?

3. How long have you been in the business and how many transactions do you close annually?

4. Do you hold any degrees and/or special real estate designations?

5. Will you provide me with a list of your most recent customers with their feedback about your service and capabilities?

6. Will you maintain consistent communication with me and guide me through the home selling process from start to finish, even after closing?

7. What is my competition and how does my home compare? Please provide me with a list of all active, pending, sold, cancelled and expired listings within the last 6 months.

8. What are the current local market conditions including average list times, buying trends, local job market, and other community specific factors that would affect the salability of my home?

9. How will you help me determine a fair selling price for my home that will bring me the best possible selling price in the shortest amount of time?


10. How much would it cost a buyer to purchase my home today and what type of financing is available for buyers in my price range?

11. I am aware that over 80% of homebuyers first see a home on the internet. In addition to a standard marketing plan, do you have a specific internet marketing plan that will bring my home maximum internet exposure?

12. What systems do you have in place for attracting buyers and maintaining consistent follow up with other Agents and potential buyers?

13. Will you conduct an evaluation of my home and guide me in preparing my home for showing in order to make the best first impression on buyers?

14. Will you help me stay objective during the process by providing me with relevant updates and facts to help me make the best possible decision for my financial future?

15. When an offer is made, will you evaluate the buyer’s qualifications, explain my options to me, negotiate the best possible price, terms, and conditions, and always look out for my best interest?

16. If I am planning on selling my home and buying another, can you guide me in how to successfully accomplish this goal? Are you experienced in negotiating and handling concurrent closings so my best interests are protected on both sides?

17. Will you review the costs of selling my home, as well as what my estimated net proceeds may be, before I sign the listing agreement?

18. If I must sell and I am not able to sell my home for enough to pay my lender(s) in full, are you experienced in helping people sell in these situations?

19. Have you ever had a grievance or complaint lodged against you with any association or any State real estate department?

20. If we are unhappy or decide not to sell for whatever reason, can we cancel the listing at anytime with no questions asked?

To learn more about why these questions are important to you, contact Christina Hunter - Realtor® at RE/MAX Olson & Associates. ChristinaHunter@remax.net or visit her website at www.CallChristina.net. She can also be reached at (805) 559-2318.

Thursday, February 14, 2008

Should You Buy Now or Wait? The Million Dollar Question.

Changes on the horizon via the Stimulus Package and raising conforming loan limits may help to bail out the subprime lending bust and could have a positive impact for the real estate market as well as the overall eonomy. Those who are facing foreclosure may be able to keep their home by refinancing. If these homeowners can avoid losing their home to foreclosure, selling below market, or asking for a short sale, this may help stabilize the declining housing market.

Hopefully it will slow down the chain reaction that occurs when homes with little or no equity go to auction and are not bought by investors and then end up going back to the bank as REO’s. As the bank’s inventory of homes has increased, they have begun selling below market to get rid of these homes on their books. This has definitely had a negative impact on the market value of all other homes. By allowing homeowners to refinance and avoid foreclosure, this will keep the bank from having to accumulate properties, which is not their business. Their business is lending money and that is what they want to do!

Although the subprime lending crisis has been a major factor in the turbulent housing market, it is not the only reason for the decline. Uncertainty plays a major role in the demise of the market. With all of the conflicting information out there, Buyers aren’t sure if it’s the right time to buy and sellers have been trying to get out while the getting is good. As inventory rises and buyer demand dwindles, prices decline. Basic supply and demand. However, in recent months, there are many sellers who have decided not to sell and have taken there homes off the market. Concurrently, there are many buyers out there who are seeing this as a good opportunity to buy. Thus, inventory is starting to decline in some areas. Maybe the end of the decline is on the horizon?

Let’s step back and not be sheep following the herd. What’s right for you may not be right for your neighbor, your coworker or the general population. Contrary to popular belief, your home is not a bank account. Your equity is not a form of savings. This belief system is what gets people into trouble.

If you are a Buyer, look at your personal situation and determine if owning a home is right for you. Would you benefit by the tax savings? Would you and your family be happier with a place to call your own? How long do you plan to own your home? Are you feeling crammed like sardines in your current home and would be happier in something more spacious? Would you like to be in a better school district for your children? Can you afford the payments of a fixed rate mortgage?

You can drive yourself crazy trying to "time the market". Everyone is waiting for the "bottom". There isn't going to be a big announcement on the news saying "today is the bottom - buy now", so how will you know? Well, every market and every neighborhood is different. The bottom may be different depending on the last sale of a comparable home. The more important question to ask yourself if you find a house you love is, can I afford the payments on a 30 year fixed rate loan? If you can and it's the home you love and it improves the quality of your life to buy it and you plan on living there a while, then go for it.

Owning a home is a personal decision and in general is considered a long term investment. Real estate is cyclical. The market goes up, the market goes down. But historically if you buy and hold real estate long term you will benefit from appreciation. Long story short, if you would benefit personally today by owning a home then do it. If you plan to own your home longer than 3 years with a fixed rate mortgage, what the market does next week, next month or next year won’t really affect you. Your appreciation/equity is only realized when you sell.

Also, every market is different. What happens in the Midwest or Texas or Las Vegas or Riverside or Oxnard is not exactly what is happening in your County, City or neighborhood. When you hear or read reports on the housing market always take them in context. More importantly pay closer attention to what’s happening in your community. Consult with a professional Realtor to know what is happening in your neighborhood or the neighborhood where you want to live.

We are currently in a Buyer’s market. There are a lot of great opportunities out there if now is the right time for YOU to buy a home. Even The Donald agrees. In an MSNBC interview in 10/07 Donald Trump himself said now and in the next 12 months in the time to capatilize on the Buyer's Market.

If you are renting, consider this: With a historically low fixed rate 30 year mortgage and lower tax base than previous years you can guarantee your payment will never increase. Your rent will very likely increase every year and you get nothing!

Making the decision to buy is just Step 1. Finding a competitively priced home, negotiating the best price, terms and conditions, obtaining the best financing and successfully closing the escrow is where you need the assistance of a real estate professional.

My specialty is negotiations.



Why wait until everyone else is ready to buy?
Buy when everyone is ready to sell.
This is when you can get the best deal!

Sunday, February 3, 2008

25 Questions to Ask a Realtor

25 Questions to Ask a Realtor Before Signing ANY Listing Agreement.

In a random survey, statistics revealed 82% of people who bought or sold a home had a miserable experience (Real Estate Marketing University, 1999) blaming it mainly on their real estate agent. Are you getting your money's worth from your real estate agent?

Here are some key questions to ask when interviewing Realtors:

1. Do you have a Marketing Plan tailored specifically to my home?
2. How familiar are you with my neighborhood and community?
3. I realize by default of all local associations, my home will be posted on several national websites (i.e. Realtor.com) and the MLS with just one picture. Are you going to be posting additional digital pictures along with a detailed description concerning the home?
4. I know that over 80% of homebuyers first see a home on the internet. Do you have a specific internet marketing plan?
5. Will a virtual tour be conducted and posted on the web?
6. Are you a one-person operation or do have a team that works with you?
7. Will you be providing prospective purchasers or their agents a detailed marketing flyer to include: interior and exterior features; many color photographs; a vicinity map; distances to schools and other local landmarks; and financing options?
8. Will you hold an open house EVERY WEEKEND until my home is sold?
9. What systems do you have in place that will keep you in constant contact with me during the listing and the transaction?
10. Do you have a system for following up on all Agent showings, all open house visits and all sign and ad calls?
11. Are you fully automated with your own lap-top computer, digital camera, FAX machine, copier, pager, voice mail, cell phone, scanner, contracts software, etc.?
12. What is the average market time in my area?
13. What has sold and what is currently on the market that my home will be competing against?
14. How will you help me determine the best sales price that will bring me the greatest return, in the shortest amount of time, with the best terms and conditions and no hassles?
15. How experienced are you in negotiations? Can I see your track record?
16. Are you going to be tenacious in dealings with others on my behalf? Will you be looking out for my best interest?
17. Do you hold any degrees or what is your highest level of education completed?
18. Are you a full-time professional real estate consultant or just a part-time sales agent?
19. How long have you been in the business and how many transactions have you closed?
20. Do you have a split with your broker or are you a 100% agent? If you have a split, why aren't you 100%?
21. How much of your time is dedicated to "prospecting" or "cold calling"?
22. How much of your business is from past customers or referrals?
23. Will you be providing me with a list of your most recent customers to verify your capabilities?
24. Have you ever had a grievance or complaint lodged against you with your local association or the State real estate department?
25. Can we cancel the listing at anytime WITH NO QUESTIONS ASKED, if we are unhappy?
How Sellers Price Their Homes

How Much Should I Offer? We're often asked by our clients, "How much under the listing price should we offer?" This is an excellent question. The answer is difficult.

The main reason we emphasize the education phase of looking at homes is because that is the best way for you to know value. When you review and study 20-60 (or more!) listings, then drive by 10-30 and look at 5-20, you will recognize the "Hot Listings." You'll also recognize the "dogs."

Sellers price their homes differently for 4 basic reasons:

1. Ridiculously Overpriced!
These sellers have listened to a real estate agent over-inflate the value of their home in an effort to obtain a listing. There is a natural tendency on the part of sellers to list with the real estate agent who gives them the highest promise. There is a tendency by some real estate agents to give the seller a high "value" in an effort to obtain the listing.

Or, especially in this area, the Sellers simply owe too much on the home and can't afford to sell for any less. However, that's not your problem!

These homes can be 10-20% overpriced. These sellers may need a "dose of reality" for a few months before they begin to realize that their home is way overpriced as compared to others in the area.

The longer an overpriced home is for sale, the more likely we can get the seller to face reality and sell at a fair price, if they are able. They may just have to take it off the market or worse do a short sale.

2. A Little Overpriced!
These sellers fall into 2 categories:
• Those that feel their home is worth every penny of their asking price.
• Those that want to leave a little "negotiating" room.
These homes can be 4-10% overpriced. Perhaps 75% of all homes for sale are priced in this range.

3. Priced At Fair Market Value
These sellers have carefully and realistically studied other homes for sale. They have priced their homes very competitively. These homes usually sell faster at or very near the listed price.

4. Priced Below Fair Market Value
These homes are priced below value. Perhaps the seller wants a fast sale. Perhaps the real estate agent recommended too low of a price. These homes usually sell within 7-10 days, at or above the listed price. There are usually competing offers.

So, you can see that it's not an easy answer. Numbers aren't just pulled out of the air. Many buyers just want to offer low because they feel that that's what the market is. Well, in some cases, if the property is overpriced - based on sales comparables, condition, location, and other factors - then offering low may be a good way to open negotiations. However, some propertites are priced at or near market and you don't want to offend the seller or kill any chance of real negotiations by offering too low.

Even by carefully studying homes for sale, it's difficult to establish Fair Market Value. If you're obtaining a new home loan, you'll be protected by the Professional Bank Appraisal. Home lenders want to make sure that you don't over-pay for a home. If the home does not meet value in the eyes of the bank appraiser, you'll be informed. At that time, we can re-negotiate the sale price or void the agreement and refund your earnest money deposit.

As a Realtor, my job is to ensure that you have the tools and information you need to make an informed decision. I will provide you with a broad rannge of sales comparables and we will evaluate together all of the factors that create value in a property. I'll help you prepare the offer with your price, terms and conditions. Then we'll present it to the seller on your behalf and try our best to get it accepted at your price and terms!

Ventura County Market Predictions

Everyone has their own opinion on where the market is going. There are many facts that can give us clues to where things are headed, but there are also many factors that are yet to be known that will also have an impact. Many people saw this downturn coming, but many didn't foresee such a fast and dramatic fall. I certainly understand your dilemma and confusion in today's market. These are uncertain times for both buyers and sellers.


Being "in the field" everyday I talk to buyers, sellers, investors, home owners, renters and other Realtors. I read real estate news from the California Association of Realtors (CAR), the National Association of Realtors (NAR), and other real estate related organizations. I listen to media reports about the housing market, read the LA Times, Ventura Star, and the Acorn local real estate reports. I attending continuing education seminars and I am taking classes for my Broker's license and GRI designation. I preview properties and view all new listings, price reductions, expired and cancelled listings in the MLS daily to stay informed about local inventory. I do this so I can have the big picture in my mind about the national and local economy and how it relates to the local real estate market.


As I have said before, everyone's situation is different and whether or not you should buy or sell depends on your personal situation. As a Real Estate Consultant, I am here to help you evaluate your personal situation and see how it fits into the overall "big picture" of the real estate market. For some people, it may not be a good time to buy or sell. But for others, opportunity knocks.
Yes, the future is uncertain. If I had a crystal ball, I'd be rich. The best proven approach for real estate investing is to buy low and hold. Buy low doesn't necessarily mean wait until that point in time when the market has hit its lowest point. How will you know when that is? When everyone else knows too? Then it won't be a time of opportunity. Buy low means get the best possible price in the current market. If I could find you a property priced below market where the Seller is willing to negotiate incentives, then that would be a good buy in this market. If you hold it for more than three to five years, you will see appreciation.


Everyone's personal situation is different and every home for sale offers different opportunities for negotiation of price, terms and conditions depending on the seller's personal situation and motivation. There are opportunities out there and if you plan on living in the home more than 3-5 years, what the market does next month or next year won't really affect you. You will be living in the home you want and enjoying it for years to come and the market will go up again.
Real estate is cyclical. It goes up and it comes down. Just how much it will go down with this correction is still to be seen. In my opinion, we will continue to see homes sell for less than previous sales of similar homes. Given the large supply of inventory compared to the low supply of buyers, it's only natural. Basic supply & demand. There are a lot of people waiting on the sidelines, so when the general public thinks it's the right time to buy, everyone will be buying and seller's won't be offering such good concessions if it's a seller's market.


All I can say is that no one has a crystal ball to say what will happen next year. If you are buying a personal residence, you just have to ask yourself, would my life be better if I bought now rather than next year? Would it lessen my commute, would I be able to stop renting, would I have piece of mind knowing I own a place of my own, would I benefit from the tax benefits of home ownership, etc.? If the answer is yes, then the next step would be to find the best possible value and have a Realtor on your side who can negotiate the best possible price, terms and conditions for you. If the answer is no and your life wouldn't't improve whether you bought now or later, then wait and see what happens.


If you have to sell, there are a lot of marketing strategies that can be used to attract buyers. Price plays an important role, but offering up front buyer incentives can sometimes attract those buyers who need a little help. Making your house both visually and financially appealing to buyers will set you apart from all the competition. As a Real Estate Consultant I can guide you through the selling process to bring you the greatest return, in the shortest amount of time, with the most favorable terms. Ask me about my specialized Marketing Plan.