In a buyer’s market -with the number of buyers exceeding the number of available homes- you should buy your new home first and then sell your existing home. If you sell first, you may find yourself running out of time, with no home to move into, as the closing date nears. This leads to panic buying.
In a buyer’s market, sell your home first as you won’t have as much trouble finding a new one.
However, in a sellers market, you should sell your home first. If you buy your next home first, you may find yourself in a panic to sell and grossly underselling your property. Be proactive; in the weeks leading up to listing your home for sale,  secure a professional real estate agent to provide you with listings available in your area of interest to browse through
In the case that both closing dates (the closing date of the home you sold vs. the home you purchased) do not coincide, and are only a few days apart, some financing options are available. For example, bridge financing. Consult a mortgage broker for more details and options.

Hope for the best, but be prepared.
It is obvious that the best possible scenario is to have both -the home you bought and the one you sold- closings on the same date and everything to fall into place seamlessly.
Not often, but occasionally, deals fall through at the last minute. Be prepared, have a plan B:
-Research nearby Hotels/Motels, or make tentative plans for temporary stay with family or friends, just in case
- if doing your own move, book your moving truck for an extra day. Return it early if everything goes smoothly to avoid extra day charges.
-Research nearby storage units,and keep their numbers handy. In the case one of the deals falls through and you suddenly have no place to unload or store your belongings, you’ll be prepared.

The world of Woodland Hills Ca real estate investing is filled with mechanisms investors use to get into properties and turn a profit. As a new real estate investor, that abundance of information can often seem insurmountable. Financing options alone on a real estate investment could take days to fully understand.

Nestled somewhere in that great array of information is the lease option, a mechanism used by some investors to get into a property quickly and with no down payment to speak of. It is a flexible solution to some investing issues and can provide a win-win situation for buyer and seller.

The basic form of a lease option dictates that a buyer and seller agree on a payment plan for a particular piece of real estate that includes the option to buy the property at some point in the future with a particular selling point. Should the buyer ultimately decide against purchasing the property, no harm is done and the agreement is simply terminated. However, if the buyer does decide to purchase the real estate, the seller is obligated to sell for the price and terms agreed to at the onset of the contract.

While this type of deal is not for every investor or every property, there are certainly some benefits. These agreements are often rapidly worked out, giving the buyer control of the Woodland Hills Ca real estate investment property and the seller a monthly payment in short order. The buyer remains flexible in the investment, having the ability to decide later not to purchase the property and the seller benefits from that flexibility by keeping the monthly payments and perhaps keeping the whole property in the end.

The buyer benefits by escaping any sort of down payment to get into an investment property, only having to come up with the monthly payment. If the property is managed correctly, that monthly payment will come directly from the revenue seen by the property.

One of the most common ways this method is used is for investment properties that could use some renovation to ultimately command a better sale price. A buyer will enter into a lease option agreement, work on the home to improve its value and then pursue a separate buyer that will pay more than the cost of the lease option. With such an arrangement,  a Woodland Hills Ca real estate investor can turn a profit on a home he or she was never even the legal owner of.

Of course, there are some pieces of information to consider when deciding whether a lease option is right for your investing needs. The most important piece of advice when dealing with a lease option is to take special care when drafting the contract as it will largely determine whether your investment succeeds or fails.

Every lease option agreement will include a monthly payment amount, an option fee which will be add toward the down payment amount for the purchase of the home, that amount is in addition to the lease amount.

Putting Homes On A Diet – McMansion

You have seen it all over the Valley, on quiet, tree-lined streets filled with modest, mid-century ranch homes, you suddenly encounter a humongous ” Tuscan-Style” mausoleum that covers virtually every square inch of its lot and looms over neighboring back and side yards.In an other scenario, in an RA-zoned neighborhood of substantial lots that was initially created to allow homeowners to keep horses,small farm animals and fowl, (Walnut Acares), one large large lot is being cleaved into three cramped parcels that will soon feature a trio of gigantic pseudo-Spanish monstrosities. Or may be you are driving along a hillside lot so steep even a mountain goat would not try to scale it, you see a construction crew trying to erect a 6,000 sq.ft. Mediterranean McManson before rains or seismic conditions let loose an avalanche of mud.

All three are common scenes in quaint suburban West Valley neighborhoods and along Mulholland corridor, substantially altering the character and look of communities and ceating a slew of problems for many homeowners.

Consider the McMansion. The Oxford English Dictionary defines McMansion as “a modern house built on a large and imposing scale, but regarded as ostentatious and lacking architectural integrity,” as this Slate slideshow essay from last year points out. These Big Macs of architecture often are poorly designed, with no identifiable style, “like a badly mismatched outfit,”.

As we see recently, the housing slowdown may signal the end for McMansions. Still there are plenty of these homes still around and we imagine that some folks will still find a way to build over-the-top houses.

This past summer the Planing Dept. held a number of open forums throughout the city to determine the need for-and possible scope of a new city ordinance to rein in the rampart proliferation of “McManson” and to curb the frequent “slicing and dicing of large suburban lots into flag lots and overly-dense communities. The resolution created by planing for the city council amends a number of key provisions in the existing Municipal Code and sets strict size, height and set back standard for any new home construction or adds ons.

The truth is it is your decision. We have looked at the reasons you may want to consider selling first and now we will see reasons why you would choose to buy before you sell.

1. In a Seller’s Market. In a seller’s market there are typically fewer buyers and houses go quickly. This lowers your risk if you choose to buy first and sell second.
2. A Good Deal. As a buyer you may find a home that is to good to pass up. The sellers may be looking and needing to sell quickly and the home is just what you’re looking for. If in this case you are able to get a good deal on your home it will be worth the small window of making double payments in the long run.
3. It’s your Dream Home. This is in a sense more of an emotional decision. If you have found the home of your dreams before you sell your house take time to really evaluate the situation. Talk with your realtor and your lender to get a good grasp on the situation. Take time and decide if you will regret not getting this house and how feasible it is for you to go ahead and buy first.

As you can see, as a homeowner you will receive advice supporting both options. Take time and decide what is best for you based on your goals and your current situation. Also remember you can seek advice from your realtor. As a realtor I want to do more than help you find a new home or sell your current one, I also want to make sure the process is as stress-free as possible for you.

1. Ability to Negotiate. If you are selling first you typically have more time to sell. This removes the pressure of feeling like you have to accept the first offer.
2. Higher Sales Price. Without the pressure to quickly sell most sellers are able to get a higher sale price on the house.
3. Renting After Closing. Once your house sells you don’t have to be homeless. Maybe people choose to rent if there is time in between the closing on their house and finding a new home. This option frees you up to complete the sell on your house and find a new home with feeling rushed.

Buying and selling a home is a lot for any person to take on. If you are comfortable with renting and want to take time selling your house, it may be in your best intereste to sell first. As a homeower, decide what is important to you and what will work best based on your financial situation and goals as a homeowner.

Senior citizens, new parents and those recovering from illnesses or injuries now have access to medical and non-medical home care services available in the San Fernando Valley. Home Helpers has opened an office in the San Fernando Valley. This office, located at 23836 Tierra Street in Woodland Hills is the first Home Helpers office to open in California.

Canada based, Home Helpers Placement Services has been providing skilled nannies, housekeepers and house managers as well as live-in caregivers since 1978. According to Judy Richards, President and Founder of Home Helpers, “When you deal with Home Helpers, you deal with me, the president of the company. I personally travel around the world to meet, interview and screen the helpers we hire. I have thousands of contacts in many countries, a network that has been carefully developed over the years to ensure access to a broad, high-quality pool of applicants including nannies, caregivers, housekeepers and house managers.” The U.S. Department of health and Human Services has endorsed Home Helpers’ medical and non-medical services as, “a viable solution to rising health care and hospital costs”. Click to find out more about Home Helpers and their domestic medical and non-medical placement services.

Single and new parents, seniors and folks who are ill or injured now have a reliable and respected option in Woodland Hills for reliable housekeeping, nanny and caregiver services they can trust. And, that is a good thing to know in case you find yourself in need of some extra help around the house. As Madeleine Manalo, President of Home Helpers in the San Fernando Valley States, ““non-medical home care is oftentimes overlooked by people who feel they don’t need the service until something bad happens, where in fact we could be assisting with daily activities for people of all ages, thus, aiding in the prevention of illness or injury and allowing and prolonging independence.”

You can contact Home Helpers here in Woodland Hills to find out more about their services and fees by calling (818) 914-0388.

This might be considered a follow up on the home inspection piece I did a few days ago. I would urge any seller to obtain a home warranty program when they list their home. During the listing period it covers some of your major appliances and systems. Heating, electrical, plumbing, dishwasher, stove and oven. 

The last thing you need when you’re trying to get top dollar for your home is to have to replace a major appliance, water heater or furnace.

Generally the seller is covered for up to 180 days and the buyer is covered for 180 after the sale. (Extended plans are usually available.) As a seller it is nice to know the buyer is not going to be asking you to replace the water heater two weeks after the sale is closed. Also the cost of the program will be taken out of proceeds at closing.

As with any agreement you want to read the fine print. Some items may not be covered under a basic plan but may be covered for an additional fee. (roof repairs, swimming pools, etc.)

A home protection plan can reduce the stress during the negotiation process as well as concerns about after the sale liabilities. If you agent doesn’t offer a plan, ask if one is available.

We lived in the home just two years before I was transferred on fairly short notice. My wife dutifully stayed behind with our two children to attempt to sell the home. It was a few difficult months before a potential buyer stepped to the plate. There was, however, just one small problem. He wanted the painting. My wife called me and I told her, “no way.” (I had the perfect spot for it in our new house.) We went back and forth for more than a week. No other potential buyers were on the scene…and so I caved. The painting was included in the deal. I guess I’m giving my age away when I tell you the guy paid $19,000 for the painting and we threw in the house.

The simple lesson here: If there is something you absolutely don’t want to leave behind, remove it before you begin showing your property. Everything is negotiable! Replace that beautiful chandelier in the entry way, the antique dresser your grandmother gave you…anything of sentimental or monetary value that a buyer might want to include in the deal.

I had one transaction that hung on a beautiful antique pool table the owner had spent years restoring. He left the table.

I tell people, “I was a professional artist. I only sold one painting, but I got $19,000 for it.

Of course, the buyer will still have to get their own inspection report, however, if the seller has already had one performed it helps to reassure the buyers. When a potential buyer sees that the seller has gotten a report ahead of time it shows that the seller is indeed sincere about selling their house. Another pro is that buyers will know that whatever may have been found to be faulty or damaged will have been repaired. Getting the inspection done ahead of time demonstrates transparency and having one will also help sellers turn down low-ball offers based on the assumption that there are repairs that need to be made. After all, potential buyers will want to discount $2 to $3 for every dollars worth of defects found on their inspection. Knowing about potential problems beforehand, even minor ones, can help you get them repaired ahead of time and save money.

When times get tough for home sellers, serious home sellers do everything possible to assure their success. This is just another one of the things that home sellers can do in the planning stages to make their home stand out in a market that has more houses for sale than qualified buyers.

Click to read, “A new selling tactic: the pre-listing inspection” and discuss this strategy when you interview listing agents to see whether getting a pre-listing inspection could be beneficial for you.

According to this article, the answer to how much a home is worth depends on many different things including, “location, the cost of land, construction costs, quality, regional features and the home’s amenities and condition.”  As well as regional features, the actual home’s features, or lack thereof can add or detract from value, which is why any two homes in the same area can sell for very different sums.  This is why it is a good idea to have your listing agent provide you with a comparative market analysis of your area.  Other factors that will raise or lower your home’s value include upgrades such as remodeling, how energy efficient the particular home is and of course, market conditions.

In short, it is not just location or the values of nearby homes that ultimately determine the value of a home.  Each home is a unique offer with its own features.  My advice to home sellers is, prepare your house well before you place it on the market, make it stand out from other offers in your neighborhood and you will attract more interested buyers.  Then find the right listing agent, the one who will do the proper research, marketing and advertising to sell your home.  Alan Mooney, president of Criterium Engineers, an engineering firm that inspects over 25,000 buildings per year, offers some excellent advice in this article for buyers regarding location and value, “Buy a home because you like it, you want to live there, and you’re OK if the market goes up, and you’re OK if the market goes down.”

If you are a single parent, I recommend that you check out SPM, or if you know someone who is raising a child alone, I encourage you to send him or her a link to this excellent online publication.

I hope to be able to add value to single parents by touching on topics of interest with relation to the world of real estate. I undertook this project because I am a firm believer that raising a child is one of the most challenging and at the same time rewarding joys of life. I can imagine that raising a child alone must be twice as difficult and is one of the reasons I highly admire those who are doing the best they can for their little loved ones everyday without any help. I believe SPM will be a great resource for single parents and am very happy to have the opportunity to contribute.

I am thankful to Lisa L Skinner, founder of Single Parent Magazine, for the opportunity to share some of my real estate experience with single moms and dads.

Please do not misunderstand, this is not a shameless plug for a family member’s business. I happen to have first hand knowledge that his company, Rite Remodeling, is an established and reputable firm as a result of having done excellent business in Woodland Hills and neighboring areas for quite some time. My husband got his start in remodeling some 40 years ago building showrooms for corporate clients in the Empire State Building in New York City. Rite Remodeling has always prided itself on providing real world remodeling solutions and high quality service for any project or budget. Rite Remodeling if a fully licensed and insured remodeling firm that gauges its success by the number of satisfied and return customers.

If you are thinking of interior or exterior additions to your home or any projects involving carpentry, painting, roofing, flooring, masonry or tiling, you owe it to yourself to contact Rite Remodeling for an interview.

According to this video, mortgage foreclosures have reached an all time high and as a result, conditions in many markets will probably worsen before they begin to show signs of recovery. An excess in mortgage defaults has flooded some markets with foreclosure homes and reduced overall home values. As a result, it will become more difficult to get mortgages and refinance homes in many areas of the United States.

Southern California is currently one of the areas suffering most from an excess of new home construction, foreclosures and an abundance of homes for sale. Because of these facts, many homes for sale in areas of Southern California are selling for less than they should be. This video explains what buyers and sellers can do to get the best deal possible.

Whenever you think about buying a new home, you also have to think about selling your current home. Actually, most sellers are already looking and will soon be buyers and most buyers are selling or have just sold a house. So besides all the things you have to do to find the home that will be just right for you, you also have to think about all that goes into getting your house ready for sale. Take a few minutes to watch this short video and you should benefit some important tips and advice. I hope this video will be instructional and helpful.

To help make moving a bit easier, it is a good idea to follow the tips and advice of moving professionals. It doesn’t matter whether this is you first time moving or if you have been through this before; if you are moving across town or across the country, a good moving strategy can help make it less difficult. I would recommend researching the different options available with several different moving companies in order to better formulate a decision of what to do and which mover to do it with. There are many different companies offering different types of services and rates and of course, there is always renting a truck and doing it yourself. Which choice is right for you? Only you can decide for yourself. In order to help get you started, I have rounded up some links to information that can help you become more informed. Here are some good links to moving information, tips and advices that I have found, I hope this information can be of help when its time for your next move.

The American Moving and Storage Association has a website that offers good moving tips.

FlyLady.net, MoversDirectory.com and MovingHints.com offer some informative moving tips and advice.

Then of course, there are the movers. Most moving companies offer information about moving. Here is a directory of moving companies across the country.