15. August 2011 by Michael McFarlane.

The Real Estate Market is in the dumps!  How often we hear such things!  But how often do these utterances come from people actually in the business?  And how is the general public to know?  Consider this:

A common complaint we hear brandied about is “Homes are not selling!.  But the fact is HOMES ARE SELLING!  A case in point: one buyer with whom I am privileged to be working has placed good offers (at asking price) on multiple homes the day they were listed (or the day they were priced in his desired range) and has missed getting EVERY ONE of them!  They received another offer that was accepted before ours, or other offers were higher (yes, above asking price!).

There are more such examples out there.  Does that sound like homes are not selling to you?  Are you interested in making money?  Is not the prime money making strategy to buy low and sell high?  NOW IS THE TIME TO BUY!

Perhaps you are interested in selling your home?  Has all the bad press put you off?  Are you working with a Realtor® that is serving your needs?  The rules may have changed, but so does the world.  It’s either keep up or get left behind.  I’m afraid the world of business and finance waits for no one. 

If you are interested in seeing the REAL numbers read the Weekly Activity Reports publish on Over the Back Fence (link below).  Every week (most weeks anyway)  the stats for the Yuba-Sutter area are compiled and published.  There are NO weeks in which there were 0 homes sold!

Get the representation you need to succeed!  Blaming the market does not get the job done.  Blaming others, conditions, or the times does not get the job done.  Willingness, knowledge and tenacity are the major tools needed.

Questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below. Please note: all visits to our sites are secure AND confidential. We do NOT track your activity!

Subscribe to Listings Updates                 Free Home Warranty

                  Search the MLS                                     Over the Back Fence

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                          Yuba-Sutter Real Estate Today

Posted in Selling Your Home, Real Estate Market | No Comments »

24. May 2011 by Michael McFarlane.

A couple of posts back we discussed some of the changes technology has made in the real estate business.  The last article focused on how a potential home buyer finds their home.  Those very changes have also changed the way we do business.

On the buyer’s side, as a real estate agent, and more specifically a Realtor® (not all agents are!), our job still includes helping you find your home by pointing you to the right information and helping you make sense of all that information.  But that is just the beginning.

From the seller’s side, we are familiar with the market.  We know how to present your home so interested buyers will look at it.  We know how to protect your investment by protecting YOU!  We have the connections and experience to put together a transaction, and the ability to see it through to completion.

Although you should consult a lawyer for legal advise, or a financial professional for financial advise, we are very familiar with these fields with respect to real estate.  We can often point you in the right direction with the necessary questions to a situation; one that you may not even have known existed. 

Perhaps you have heard the term Real Estate BROKER?  It refers to the fact that we don’t make the deal, or even participate in it.  What we do is round up all the parts and help you tie it all together.  In today’s complex transactions that is a lot of parts; a lot of different specialists each needing to do their part in a timely manner. 

Did you know that most FSBO (For Sale by Owner) transactions FAIL?  The reason for that failure rate?  85% of failed FSBO transactions fail due to the high stress level created in trying to keep every aspect of the transaction on track.  The stress is so high that the interested parties end up at ends with each other, or are otherwise unable to things accomplished within the time frame required.

Questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below. Please note: all visits to our sites are secure AND confidential. We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

          Search the MLS              Over the Back Fence

Home Rescue Group                                   Free Home Market Analysis

                     Yuba-Sutter Real Estate Today

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1. April 2011 by Michael McFarlane.

There is currently a  proposal to do just that!  The reasoning is that it is more economical to complete a short sale than to allow the delinquency to progress to a foreclosure.  We have been arguing this fact for some time.  In our opinion, short sales are better for all concerned: the bank, the home owner, even the neighborhood.  And that translates into a better economy overall.

$ Read more: Los Angeles Times  ð

We would like your opinion.  While most would agree that government should not be overly involved in private business, neither should private business expect the government to bail them out without some controls.  What do you think? 

Why have the banks not followed through on short sales?  There are many answers and they vary depending on to whom you are talking.  The banks were not prepared for the volume they encountered.  Some of the basics we see are as follows:

1. Large businesses are slow to change.  Banks have gotten to be very large businesses, and they are scattered all across the globe.
2. One department does not know what another department is doing.  While loss mitigation might be working on a short sale, foreclosure department continues with the foreclosure.
3. A serious lack of knowledge (a lack of training) created by the rapid growth of the departments needed to handle this situation.
4. Lenders themselves were in denial.  You know, that “pretend it doesn’t exist and it will go away” attitude.

The list goes on… but the fact remains that we (after all, we, the people, ARE the government) are bailing out the banks.  Should we not have some control over how they use our money?  Is not the idea to help our economy, which in turn helps us all?

We want your opinion!  Please use the comment area below or email us directly to state your view on this subject.  Your input will be passed on to Sacramento!  Here at Encore Real Estate Services (EncoreRES.com) we are dedicated to building better communities.  We are active in the Realtor® Associations (local, state & federal), local and state government, and of course our communities.  Your input makes this possible.

Questions about YOUR best action?  Contact us today for your free analysis.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below.  Please note: all visits to our sites are secure AND confidential.  We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

                  Search the MLS                                     Over the Back Fence 

 Home Rescue Group               Free Home Market Analysis  

             Yuba-Sutter Real Estate Today

Posted in Finance, Selling Your Home | No Comments »

29. March 2011 by Michael McFarlane.

Recently we published an article pointing out some of the issues involved with choosing which Realtor® you might have represent you.  Something not covered in that post was the question of why choose a Realtor® at all.

For Sale by Owner (FSBO) is no doubt a method you have seen employed.  Is this the right approach for you?  Chances are…NO.  The legal issues are enormous!  It is the largest financial decision most people will make in their LIFETIMES!  Are these issues you feel comfortable handling yourself?  Or would you rather have the assistance of trained professionals at your disposal?  Especially since the cost is ZERO!  (More on that later.)

While there are thousands of licensed real estate salespeople and brokers in the state of California, only about 1/2 of them are Realtors®.  As with most trade groups, there is a standard that must be met and maintained in order to belong.  That elevated standard for a Realtor® is well above that required by the state for a license.  And it reaches across state lines as NAR, the National Association of Realtors®.

$ read more  ð

Above I stated that the cost of hiring a Realtor® is ZERO!  No, we don’t work for free.  But the monies we make come from the transaction, not your pocket.  Just like the steering wheel is a part of the cost your car, transactional costs are figured into the selling price of a home.  It is a statistical fact that transactions involving a Realtor® produce a higher profit than those that don’t, and  a much higher completion rate.  SO, not only were the Realtor’s® services at no cost to you, you actually profit!  How good is that?

Questions about YOUR best action?  Contact us today for your free analysis.  We will happily provide you with the information you need to make an informed decision.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below.  Please note: all visits to our sites are secure AND confidential.  We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

                  Search the MLS                                     Over the Back Fence 

 Home Rescue Group               Free Home Market Analysis  

             Yuba-Sutter Real Estate Today

Posted in Selling Your Home | No Comments »

16. March 2011 by Michael McFarlane.

We all prefer to do business with someone we like.  It helps take some of the stress out of the equation.  And if you like someone, you usually trust them.  So wouldn’t it be great if your friend was a licensed and knowledgeably Realtor®?  Someone who has the experience, connections, and resources to get the job done for you?

Most of us know someone who dabbles in real estate.  Is this the person you want to handle your transaction?  What do you believe is their competency level?  Were they able to provide you with the information you needed?  Were they honest enough to say “I don’t know but I will find out” when needed; and then follow through on that promise?

Everyone makes mistakes!  The difference is what happens afterwards.  Is the mistake acknowledged?  Is it then corrected?  That is how we grow, how we learn.  And that is the secret: to LEARN.  That brings us back to the question: How do you choose YOUR Realtor®?

Buying a home usually requires time to research, look, and compare.  Who provided you with the information you used most?  During the course of your research have you found this person’s attitudes to be compatible with yours?  If so, you are probably comfortable working along side this person.  This doesn’t mean you are pals, just that there is a mutual trust and comfort level that is needed (if not required) to make it through a real estate transaction today.

Big company or small or independent isn’t what matters most.  It is the individual you are working with.  Do they appear competent?  Are they trustworthy?  Of course we know you have verified that they are legal, licensed, and knowledgeable of the area you are interested in.  Do you feel that they are putting YOUR INTERESTS ahead of any other in your transaction?  If so, you have found your Realtor®!

Questions about YOUR best action?  Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below.  Please note: all visits to our sites are secure AND confidential.  We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

                  Search the MLS                                     Over the Back Fence 

 Home Rescue Group               Free Home Market Analysis  

             Yuba-Sutter Real Estate Today

Posted in Buying a Home, Selling Your Home | 1 Comment »

15. February 2011 by Michael McFarlane.

Interest rates have inched up to over 5%.  That’s higher than they have been since May 2010, nearly one year ago.  For the week ending 11 Feb the average was 5.05% with the 0.8 average buy-down rate included.  Loans not backed by Fannie Mae or Freddie Mac were even higher with a spike of 5.25% last week.

For buyers this increase is not overwhelming.  Most can easily absorb the increase of $20-$35 in monthly payments created by it.  The listing prices tend to decrease slightly to compensate for MINOR increases, lowering the down payment slightly.

For sellers however, this is not good news.  As mentioned, selling prices tend to drop slightly to compensate for the interest increase.  In a neighborhood with many homes for sale this slight drop can lower ALL home values in the area, which drops the price slightly more!  This will drop the amount the banks are willing to lend.  And for the buyer that was borderline, well, your home just may be out of their price range now.

This increase is compounded by the uncertainty of the government’s role (via Freddie Mac & Fannie Mae) which is being questioned.  What will be the result on the housing recovery?

$ Source: CNNMoney ð

Our take on what it means to YOU? 
…If you are thinking about buying, the stable lending environment of today probably outweighs any minor gain by price reductions in the near future.  And we expect interest rates to continue to climb slowly.
…If you are thinking of selling any time soon, stable prices and raising interest rates make this the ideal time.  We don’t expect prices to rise significantly until the foreclosure mess is cleaned up, and that won’t be for another year or so in our opinion.  If you are waiting for the high selling prices of 2005, well, studies we have seen expect that to happen around 2035!

Questions about YOUR best action?  Contact us today for your free analysis.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below.  Please note: all visits to our sites are secure AND confidential.  We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

                  Search the MLS                                     Over the Back Fence 

 Home Rescue Group               Free Home Market Analysis  

             Yuba-Sutter Real Estate Today

Posted in Buying a Home, Finance, Selling Your Home | No Comments »

15. January 2011 by Michael McFarlane.

Shortening the Short Sale  In today’s market, bank owned and short sale properties are the norm rather than an exception.  Understanding them can do more than just make them more tolerable.  It can actually lead to a faster and more rewarding transaction.

The Short Sale is when a property is sold for less than what is owed against it.  A second part, called a short payoff is when the lenders involved agree to accept that sale and give clear title to the buyer.  Although these two are slightly different, in today’s market they are both generally referred to as a short sale.

Many recent mortgages were written with a second lender subsidising the down payment.  These seconds, as they are called, may also come into play for a refinance, an equity loan, or other reasons.  This second is often a different lender than the “first”.  This lender must also agree to the financial agreements in the short sale, often meaning they will get next to (or actually) nothing.

MI (Mortgage Insurance) in the Short Sale  can cause more delays.  MI is generally required when the down payment is less than 20% of the purchase price.  Sound familiar?  Since they are not required to pay any claims until clear title is demonstrated, every short sale must have an exclusion in order to complete.

These three things (and more) are IN ADDITION to the normal parties and conditions involved in the sale of property.  THEY WILL TAKE LONGER!  If you accept that things get better.  Does that mean there’s nothing you can do to speed things up?  NO!

As the Seller have you documents ready.  Answer the calls from your lender, and anyone you might have helping you with the process.  Be honest about why you are unable to afford the payments (ie. what has changed since you agreed to the mortgage terms).  Make sure you have an agent that knows what is required and does it.

As the Buyer accept the fact that multiple entities are involved and that it will take longer than an equity (normal) sale.  Make sure you are pre-qualified for the amount needed.  Keep your proof of income and bank statements ready and updated.  As with the seller, make sure you are working with an agent that understands the process, and acts when needed.

$ Read More ð

 For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below.  Please note: all visits to our sites are secure AND confidential.  We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

                  Search the MLS                                     Discussions & News 

 Home Rescue Group               Free Home Market Analysis  

             Yuba-Sutter Real Estate Today

Posted in Buying a Home, Selling Your Home | No Comments »

4. January 2011 by Michael McFarlane.

The real estate industry, in general, has been slow to accept change, especially in the large brokerages.  In fairness, large companies are generally less nimble than “the small guy”.  But in real estate the “way we’ve always done it” mentality seams to prevail. 

Is there a problem with that?  You bet!  It costs the client money!  Example:  Let’s say an office has 5 agents, each of whom close 1 transaction every other month (a pretty good average in these times) and let’s say the office space rents for $2,000 per month.  That means that each and every transaction will pay $600 to rent alone! 

That is $600 that could have gone to marketing the listed property, or helping a buyer get moved in and settled, or maybe help with closing costs.  Which would you rather have?  Don’t get us wrong.  There are some advantages to being part of a big company.  Things like marketing and other large scale items have their costs distributed over a greater number of agents.

But does marketing the brokerage’s name on national TV really help sell your home?  Does it help you find your new home?  Does their prettier web site really help you?  It might be “easier on the eyes”, but do they allow you to get the information you need with security and anonymity? 

If one of your New Year’s resolutions is to save money (usually meaning to get more for your money) then consider this: Real Estate really is personal and local.  Is your agent?  Does your agent’s company allow them to be?  Are they using your hard earned dollars to help you or their company?

Read more:  RISMedia  ð

How does this effect you?  At Encore Real Estate Services (http://encoreres.com), Yuba-Sutter Homes and Loans, and other People’s Choice Brokers companies we believe your money should benefit you.  Most work from home offices saving you thousands of dollars.  We are internet connected giving you the WORLD of information and marketing, not just our office or brokerage/company.

 For ALL your real estate related needs and/or questions call (530 315-2808) or visit us on line at EncoreRES.com or any of the links below.  Please note: all visits to our sites are secure AND confidential.  We do NOT track your activity!

Subscribe to Listings Updates           Free Home Warranty

                  Search the MLS                                     Discussions & News 

 Home Rescue Group               Free Home Market Analysis  

             Yuba-Sutter Real Estate Today

Posted in Buying a Home, Selling Your Home, Real Estate Market | 1 Comment »

20. September 2010 by Michael McFarlane.

A few months ago the state of California banned the practice of charging up front fees for Loan Modifications, and federal laws soon followed.   This law was intended to stop the fraudulent practice of taking advantage of desperate homeowners by charging for a service of questionable value.  In fact, some who actually did anything (some did not) did nothing more than the home owner could have done on their own.

Crooks, being what they are, have found a way around the law (not legally of course).  It seems that they have turned to the potential buyer to get their dishonest money.  They are insisting that a buyer pay a short sale negotiating fee in order to have their offer submitted!  While we at Yuba Sutter Homes and Loans do understand the extra work involved in pushing short sales through in a timely fashion, we would never dream of charging extra for it.  In fact, we are in the process of partnering with a company (stay tuned for more on this) who’s expertise is negotiating with the banks for loan modifications and short sales.  This is another service available to our clients AT NO EXTRA COST!

The Short Sale Negotiator (SSN) addendum is one method being used by the unscrupulous the make these charges.  While we do use the addendum, it is solely for informational purposes.  We believe you have the right to know who will be involved with and have access to your information throughout the process.  We are proud of the effort we put into providing our clients with the very best services available.

The questionable (if not outright illegal) practice of charging for the service and trying to hide this charge from the lenders et al has come to the attention of the Department of Real Estate (DRE).  In their effort to protect the public they has issued an alert.  To read that alert click HERE.

If you or someone you know is thinking about or in need of a loan modification give us a call at 530 315-2808, or sent an email.

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28. August 2010 by Michael McFarlane.

It may not feel like it today, but summer is beginning to wind down.  Cooler weather is coming and it’s time to do some of the annual home maintenance, before it gets too cold or wet. Preparing your home for the fall season, and cleaning up the yard, can prevent the unsightly mess you could be left with when spring comes along.

Clean out the rain gutters – Now is the time to get rid of anything left from last year, plus the dirt that accumulated over the summer.  Cleaning rain gutters isn’t that difficult of a task, it’s just a tedious one. An easy way to get rid of the junk is to use a high pressure hose.  Once you have gotten rid of all the debris, give your gutters a good shot to be sure the downspouts are all full open.  Tomorrow, after they dry, is the perfect time to apply that touch-up paint.  Not only will it look better, it can stop the rust and prolong your gutter’s life.

Take care of your pots and planters – If you’re like most homeowners, you have some planters or potted plants sitting around the yard. Before it gets too cold, be sure to empty the dirt out of any pots or planters and put them in a place where they won’t freeze. If you don’t empty or store your planters, there’s a good chance they will either crack or fall apart.  If you live where it doesn’t freeze but does rain a lot care might be called for to protect your plants from drowning.  Will they get too much water?  Will they drain properly?

Prepare for raking the leaves– Keeping your yard free of leaves is an important task for homeowners. If you have numerous trees in your yard and piles of leaves that you don’t take care of, you might find that your grass is dead once spring arrives. Leaves can smother your lawn and replacing a lawn can cost a lot of money, so it’s a good rule of thumb to get rid of the leaves in the fall.  Make sure your yard is free of obstacles and you have a plan for disposing of the leaves.  Some will compost them, other have them hauled off.  There are even companies that but them!

Weed and feed the lawn – The best time to weed and feed the lawn is in the fall. If you add weed killer in the fall, the weeds will store the poison in their roots during the winter season, and will prevent a breakout in the spring. By feeding your lawn with fertilizer in the fall, you are promoting healthy root growth, and this will help your lawn grow greener and faster in the spring.

Give your tools a tune-up– Once you have finished your fall maintenance chores, make sure you clean your tools and store them in a dry place so they will be in working order once spring arrives. Be sure to store metal shovels with the head upwards, as this will help detour rusting when it dries. Sheers need to be oiled up, wheel barrels should be left upside down and don’t forget to spray off the underside of the lawnmower.  Yes, I know, in the valley we use our lawn mower all year.  But this is a good time for that annual maintenance, while you are tending to the other items.

I am sure you have other tips.  Want to share them?  Want to see them in print?  Leave a comment below, email us, or go directly to our web site at Yuba Sutter Homes and Loans.

Posted in Home Maintenance, Selling Your Home | No Comments »