What to Expect From a Listing Agent

You already know that the best way to sell your home, and for the most profit, is to hire a listing agent. The fact is that people who sell using a real estate agent make more profit and have a smoother transaction than those who try to do it themselves. Yet often consumers don’t know everything the listing agent does. Listing a home properly entails so much more than putting a lockbox on the front door and slapping a sign in the yard.

The listing agent is your advocate and partner in the selling process. They help guide you through the transaction, negotiate on your behalf, and work with the buyers’ agents to get you the best deal possible. A good listing agent will provide you with regular updates and input from showings. The most important thing is to discuss and set expectations at the beginning.

Some sellers ask that their agent attend all showings. This is typical with luxury properties, for example. But often they do most of their work behind the scenes, encouraging offers, negotiating counter offers, working with lenders and appraisers, handling loose ends and hiccups.

Once in a while, things don’t go well. The partnership becomes difficult or impossible. Since almost all listings involve a reasonable time limit, you may feel trapped or hopeless that there is a solution. In this case, you do have options. First, if your agent works for a brokerage, call the managing broker who can mediate, or if necessary, reassign your listing if needed. Your agent is your partner. Be honest and open with your needs and expectations. In this way, you can work together to sell your home quickly and for the best price and terms possible

7 Ways to Save Money on Home Insurance

Home insurance is critical for homeowners. It protects you from unexpected damage due to fire, wind, flood, and more. Unfortunately, the cost of these policies can be very expensive and over the past few years, some premiums have doubled or even tripled as more natural disasters hit the country. Fortunately, there are a few ideas on how to save money on premiums. Here are 7 possible ideas to save money on your home insurance.

1. Bundle Policies – The easiest way to save money is to use the same company for both auto and home. Most companies offer significant discounts for doing all your business with them.

2. Increase Deductibles – Raising your deductible on all policies, even just a little can save money overall. Consider how much you are able to spend before relying on insurance and see how much you can save.

3. Home Security Systems – Most companies offer a nice discount for home security, plus you have the added benefit of greater safety for you and your family.

4. Good Credit – A higher credit score will likely give you a lower premium. Be sure to ask your insurance company to review your score at each renewal period.

5. Review Coverage – Do you have health insurance at work? Then maybe you don’t need medical coverage through your auto policy? Review your policies and make sure you need everything you’re paying for and always seek the advice of your insurance agent.

6. Claim Free – Insurance is there to use, but you may not want to use it for everything. If you have a $1000 deductible, for instance, it does not make sense to submit a claim for damage that totals $1150. Staying claim-free saves money.

7. Finally, shop around. At each renewal period, take the time to compare leading companies and make changes when necessary. Switching companies is very easy and can save you hundreds of dollars. Consult with your insurance agent to find out if any of these ideas might work for you.

10 Questions You Need to Ask Your Contractor Before You Hire Them

Hiring the right contractor can mean the difference between a successful remodeling project and a nightmare. The contractor is responsible for hiring the best tradesmen, budgeting, ordering raw materials, timing, and much more.

Before you meet with a contractor, it’s important to prepare. Not only should you be clear about the scope and goals for the project, but you also need to have questions about their business and these 10 questions can help you ensure you are hiring the best person for your needs.

1. Are you licensed and bonded? Can you provide information about your insurance coverages and exclusions?

2. What kind of project management system do you use? What is your communication cadence with your team and with me?

3. What is your policy regarding the cleanliness of the job site? How do you ensure employee safety on the job site?

4. Do you have a portfolio of similar projects and recent work with photos and/or videos?

5. Will you give me some references of recent past clients?

6. Can you provide me with a sample contract in advance for review?

7. How are selections and allowances handled?

8. How are payments handled? Will you provide a payment schedule?

9. What is the estimated time frame for planning, start date, and completion?

10.What penalties will you pay for delays caused by your team? How is fault defined for delays? Is this in the contract?

Remember, a home remodel can cause a great deal of upheaval, weeks or months of workers, delays, and adjustments. While you can’t plan for all contingencies, you can hire the best possible contractor. This puts you in the best position for a successful project.

Removing Uncertainties When Buying and Selling

Buyers and sellers are feeling the uncertainty in the housing market. With rising interest rates and a slower selling pace, it may seem overwhelming. If you are planning to both sell your home and buy a new one, the current environment may be even more frustrating. Where do you start? Sell first? Buy first? The good news is with the right strategy, you can take the risk out of this kind of move by working with your agent and utilizing contingencies.

Most people assume that they have to sell their home before they make an offer on the replacement property. This can feel risky in any market, but when we’re facing higher interest rates, variable home inventory, and market uncertainty, you may feel this puts you out on a limb. What if you sell your home and don’t find a good replacement? What if interest rates rise even more and you are stuck renting?

Your agent can help with this. There are contingencies in every real estate transaction. Most people know they can make an offer contingent upon selling their current home. In this case, the buyer makes an offer and asks for 30-60 days typically to get an offer on their existing home. The reverse is also true. If you are unsure of the value of your current home in this market, you can also accept an offer to sell contingent on finding a home to buy. Both options protect you in the event that you are unable to find the right home or loan.

Working with your agent, it is possible to buy and sell in this uncertain market, while controlling the situation; making the process as smooth as possible and removing unnecessary risk.

Buyer’s “Love Letters” – Should You Read Them When Selling Your Home?

Selling a home can be an emotional experience. As the seller, you want to make sure that the buyer loves the home as much as you do and will take care of it. In other words, you’re looking for the perfect buyer with the perfect offer. Home buyers understand this, and in the recent seller’s market, some buyers have written heartfelt letters to the sellers about how much they love the home, hoping it will tip the scales in their direction. But as a seller, making decisions based on these “love letters” could cause problems, leaving us with the question, “should you read them?”

Buyer love letters can provide valuable information to the seller. With properties receiving multiple offers, it can be difficult to choose the best one. By reading these love letters, you get a sense of the buyer and their connection to the home. A well written letter can ease the concern that a buyer will change their mind and can occasionally overcome a slightly lower offer.

However, simply reading the letter can introduce bias into the decision-making process and cause serious issues. The Fair Housing Act prohibits discrimination based on factors such as race, religion, or family status. If a love letter reveals personal information that falls into any of these categories, just knowing the information may open up the seller to potential issues. I

t’s natural to want your home to go to a “nice family” who will love the property as much as you do. It’s just as natural to want to ensure the new owner will fit into the neighborhood. Yet, it’s just this goal that might also cause headaches. So, if you do choose to read the letters, focus on the practical and financial aspects of the story and make the best choice for you and your goals.

7 Tips to Creating an Amazing Gallery Wall

A gallery wall is a quick and easy way to add visual impact to any room. Adding art and photography to a wall showcases your personality, interests, and style. Merging art with interesting articles, a gallery wall instantly adds depth to a living room or other space. Set against a strong color, the impact is even greater, and the time commitment is minimal, making it a great weekend or evening project.

7 Tips to Creating a Visual Delight

1. Plan and Visualize – One great tip is to use paper cut outs to plan the wall before committing and make sure you have the right tools, such as nails, hangers, Command® strips, leveler, screws, hammer, etc.

2. Choose a Theme or Concept – Create a cohesive, intentional look by working with a concept. This can be the style of art, color palette, or subject matter.

3. Mix and Match – Combine various sizes and mediums for visual interest. Mix paintings with three-dimensional objects like mirrors, plates, or masks. Pay attention to balance so the result is eclectic and not cluttered.

4. Watch the Framing – Frames and matting adds texture and boundary. Affordable options are available in standard sizes and colors in home improvement stores.

5. Play with Layout – Don’t worry about lining up every frame in a grid. Space frames and objects so that they stand out and are displayed to their best advantage.

6. Find a Focal Point – Starting in the middle of the wall, highlight a special piece and work out from there.

7. Add Lighting – Proper lighting is important. Use to highlight a special picture or use track lighting for a subtle glow.

A gallery wall is a great expression of your personality and can be changed quickly. You probably already have the art necessary to make this change today. Don’t overthink the plan and create your visual delight this weekend.

5 Important Things to Consider Before Buying a Fixer-Upper Home

Purchasing a fixer-upper property can be an exciting and rewarding experience. HGTV is filled with programs of amateurs knocking down walls and tiling bathroom floors. The fact is that this is much harder than it looks and before diving headfirst into this kind of project, it’s critical to consider whether you are prepared for the venture. 5 Important Things to Consider Before Buying a Fixer-Upper Home

1. Financial Planning – The first step in buying a fixer-upper home is to establish a realistic budget. Include the purchase price, repairs costs, and any expected expenses for renovation or restoration. Once you have created a “known” list, then add extra for unexpected issues that will arise.

2. Time and Effort – Renovating a fixer-upper takes time and effort, even if you hire a general contractor to oversee the project. Consider the overall scope of the project and evaluate your skills and level of time commitment.

3. Structural Condition – Before making an offer, thoroughly inspect the property’s structure and foundation. Recognize the impact of any issues uncovered and make sure to budget for the proper corrections.

4. Real Estate Market and Location – Even a beautiful home in a terrible area is a bad investment. Consider such factors as property values, market trends and the potential for future appreciation. Work with a financial planner to make sure the investment fits your long-term goals.

5. Legal Considerations – Before writing the offer, familiarize yourself with local building codes, permit requirements, and zoning regulations. Ensure the changes you anticipate align with local requirements.

Purchasing a fixer-upper home can be a wonderful investment and worthwhile project. By evaluating your budget, time commitment, property condition, and potential appreciation, you can be sure to choose the right situation for your goals and experience.

Property Liens That Can Stop The Sale

One of the most common reasons for a home sale to fall through is the presence of property liens. Often the sellers are not even aware they have a lien on their home and the delay caused by having them removed can cause a qualified buyer to look elsewhere.

Along with other pre-listing tasks, such as repairs and curb appeal projects, sellers should order a title search to determine if any liens are on the property. Some liens are expected, such as the mortgage lien which ensures any home loan is paid off at the time of close, but others might come as a surprise. Here are a few liens which can derail your closing.

· Mechanics Lien – A contractor may place a mechanics lien on your home to make sure they are paid after a home project.

· Divorce Lien – Even if you and your spouse have agreed on the sale of the home, the court may need to approve the sale before the lien can be removed.

· Homeowner’s Association – Past due HOA payments and assessments can lead to a lien on the home.

· IRS and Property Taxes - A government legal claim against your property when you neglect or fail to pay a tax debt.

· Judgment Liens - Is a court ruling that gives a creditor the right to take possession of a debtor's real or personal property if the debtor fails to fulfill his or her contractual obligations.

· Credit Card Liens – If you default on a credit card and the issuers get a judgment, they can attach a lien to your property. Liens must be dealt with before a home can change title. Often the lienholder will negotiate the payment, but others will want full payment before releasing the hold. Either way, dealing with liens can take time and money. It’s always best to remove liens before listing your home for sale.

Affordable Style Updates To Do This Weekend

Just because your budget is feeling the pinch with rising food and energy costs doesn’t mean your style has to suffer. Ditch the big investment purchase ideas and try some simple updates that will change the look and feel of any room quickly and for a lot less than a new couch.

Five Affordable Updates to do this Weekend

1. DIY Pastel Art – Freshen up your room with pastels without the big investment. Take a simple canvas from the craft store, prime it with white paint and add color. Simple and sleek.

2. Industrial Retro Lighting – New light fixtures are a simple way to update a room. A local big box retailer will offer cost-effective versions of the latest trends.

3. White Sofa – No need to buy a new sofa when a fresh slipcover will do; bright, clean, and easy to change when the cooler months come.

4. Boho Accents – Mix up your style with some boho accents, such as a Turkish rug runner or kilim pillow.

5. Add Metallic Elements – Bold accents, such as a brass side table or shiny silver vase, can perk up a room and modernize your look. Watch for unusual shapes as well to add visual interest.

Soaring inflation has put many home improvement plans on hold but your style doesn’t need to stagnate. A few simple changes will give your spirits and your home a nice lift.

Two Ways Homebuyers Can Win in Today’s Market

It’s no secret that many prospective homebuyers are finding the current real estate market challenging. One of the more unexpected consequences of the Covid pandemic was the hyper-focus on one’s home. This has resulted in a robust market where sellers are seeing advancing home sales prices and multiple offers.

While competition is fierce, clearly for sellers to sell, they need buyers. If your goal is to find a new home this year, there are a couple ways you can maximize your ability to have your offer accepted.

Two Ways Homebuyers Can Win in Today’s Market

1. Act Early - There are a couple reasons why home buyers should start early this year. With rising inflation, interest rates are likely to rise this year. While conventional wisdom may suggest lower real estate prices with an increase in mortgage rates, this is a gamble. Lower interest rates can not only save homeowners thousands of dollars over a 30-year term, but also provides better buying power with lenders, providing more choices.

2. Buy Now and Move Later - The rapid pace of the current market affects not only buyers but sellers as well. In a typical market, sellers often have weeks or months to find their replacement property. Buyers can sweeten their offer by asking about the sellers needs and allowing them extra time to move, offering to close quickly but renting to the sellers for 2-3 months to allow them time to find their new home. The bottom line is that home loan rates and home prices will likely continue to advance throughout 2022. Potential homebuyers who move quickly can maximize their buying power and ability to win the home.

Stay Focused on Your Goal

Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus!

Buyer Challenges

Facing a very tight inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.

Seller Challenges

Sellers are also feeling the challenge of the frantic pace. While it is nice to have multiple offers from which to choose, the fact that the offers are at times being made sight-unseen means that some of the offers may not be the buyer’s first choice and they could lose a “real” offer by choosing to work with the wrong one. In addition, if the seller intends to buy another home, then they will be in the same position as the buyers once they enter that side of the competitive market. The bottom line in each case, however, is to stay focused on the end goal. Why are you looking to buy or sell? Working with your agent, and relying on their experience, keep your eye on the prize and recognize that the goal will be worth the effort.

Selling and Buying during a global pandemic...No Problem!

The OC Nest worked with this family to sell their Irvine home during COVID for $20,000 over list price in just 3 days! In addition, we helped them to purchase a new home for $74,000 under list price! This is a perfect example of great teamwork! Through clear communication and trust, we were able to accomplish their goals. We are so happy they found their perfect "nest "!!