Tips on Getting Your Purchase Offer Accepted

California’s housing market appears to be heading in the direction of a Seller’s market. With inventory in certain price ranges at an all-time low, Sellers are seeing multiple-offers once again. Listings in the price range of $600,000 and below seem to sell quickly. The chance of these properties going into escrow within 30 days is highly likely so one has to be prepared.

The level of difficulty to get an offer accepted on a home purchase has increased. To this point, we’d like to make some suggestions on how you can increase the chances of getting your offer accepted. As a reminder, if you like a house enough to make an offer, assume there are 15 other people who feel the same. Some of which will be presenting all cash offers. This doesn’t mean that you are automatically going to be rejected but it does mean your offer will need to stand out. In the many years I have been involved with real estate and finance, here are some ways I have found Buyers to be successful in a bidding war:
     1. Find a Buyer’s agent that knows the area very well. Chances are the agent will most likely know the Listing agent.
     2. Personalize your offer by creating a profile on yourself and your family. This lets the Seller know what they would be selling to and that you actually went the extra mile to let them know you are truly interested in the property.
     3. Be prepared to spend days, nights and weekends to find your property. Properly priced new listings won’t last too long so the sooner you see it, the sooner your offer gets seen.
     4. Prepare a game plan between yourself and your spouse to view homes and write offers. Chances are your schedules won’t be exact so it’s important to detail what you like, how you will tour homes, and how you will present offers.
     5. Get loan approval for your home price range.

For a list of lenders and real estate agents, please contact us at marketing@mypropertychannel.com

Renters Boon

The housing industry is definitely in the recovery process. Where it will lead is anyone’s guess however, if history suggests anything, we will have a boon. Now it does not take a rocket scientist to figure out our economy is based on a cycle. We happen to be at the bottom of one and all things indicate that we are trending positively from a recession to growth. Depending on who you ask and what you read, not all experts agree on the timing of the growth stage. This brings us to our topic of discussion.

Renters make up approximately 40% of new home buyers. This includes previous homeowners and first-time home buyers. This is an important statistics because renters today are equipped with resources to make a well-informed decision on what to purchase. The internet provides an enormous tool to research properties and real estate agents, which allows significant amount of due diligence to be performed prior to a home viewing. The reality is renters have a certain expectation on what they are looking for. Many renters I know are handy and enjoy do-it-yourself projects. Keep in mind, that many renters were once previous home owners so they understand periodic maintenance and improvement. They have made it clear that minor cosmetic to major construction work is something they will not shy away from and some even prefer it. Who wouldn’t want an under-valued asset?

With rental rates at a high and vacancies at a low, renters can choose to make a purchase that will only benefit them for many years to come. Include the lowest rates in history and low prices; you have a recipe for many renters that can pave the way to economic growth.

300 South Snyder Place West Covina, CA For Sale

New Listing in West Covina, CA – Los Angeles County

Great home beautifully constructed in a peaceful neighborhood just minutes from South Hills Country Club. Walk up to a huge wrought-iron double-door entry. Enter into a lovely foyer with a spiral staircase, to the left you have a formal living room with a marble fireplace connected to a private library with coffered ceilings and wood paneled walls. The formal dining room is adjacent to a large media room complete with a build-in bar, perfect for entertaining. The kitchen includes all stainless steel appliances, built-ins include: side-by-side refrigerator, double ovens, coffee station and microwave. It features a center island with counter-tops, cook-top and breakfast bar. All 5 bedrooms are upstairs including the laundry room. The master bedroom includes an on-suite bathroom with a double-sink vanity area, step up Jacuzzi tub and separate shower.

For complete details and agent information: http://www.mypropertychannel.com/West-Covina-CA-Homes-For-Sale/300-South-Snyder-Place-MLS-97866436208