Keisha Hosea – Page 3

What Should I Expect At My Buyers Home Inspection?

Once you get your offer on a home accepted, you will probably want to schedule a professional home inspection. Most home inspections are based on the square footage of the home but typically run between $200 to $300. Your real estate agent should typically be able to refer you to some reliable inspectors. When you call to make your appointment, they will typically ask you a few questions about the home. Therefore, it is very important to have this information available when you call to schedule the appointment. It is a good idea to ask your real estate agent to give you a copy of a flyer with the information on it. Your real estate agent will also need to confirm that all the utilities are on at the property. This is necessary so that the inspector can check items like the heating and cooling systems, plumbing, etc.

The inspection generally will take 2-3 hours so come prepared to get very acquainted with your new home. It is advisable that you bring chairs to sit on, snacks, magazines, your camera, a measuring tape so you can measure spaces for furniture placement, pen and paper for note taking and any family members or friends that you may want to take a look at the property. During this time, your real estate agent may also bring additional documents that require review and signatures.

Once your home inspector has completed the inspection, they will generally go over their findings with you. You will usually receive a written report that documents these findings and suggestions. Bear in mind that the suggestions made are to aid you in better understanding the current condition of the home and the type of maintenance and repairs that you may wish to consider. The home inspection is a great way to familiarize yourself with your new home.

Your Best Open House When Selling Your Corona Home Is The Internet

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Your Best Open House When Selling Your Corona Home Is The Internet. Wondering how this could be the case? The evidence is all available in black and white. The 2011 National Association of Realtors Profile of Home Buyers and Sellers shows that 40% of home buyers and sellers first learned about the home they purchased via the Internet. The only thing that was even close to the Internet in the method that buyers learned about the home they purchased is their real estate agent. 35% of buyers found their home due to their real estate agent.

Let me assure you, that even when those 35% of buyers who found their homes due to their agents had the help of the Internet most likely. why? Because most real estate agents utilize their local Multiple Listing Service (MLS), this means that those agents have seen your Corona home for sell on the Internet. To find their home, 88% of buyers reported that they used the Internet and 87% said they used a real estate agent. While buyers did still report using open houses to find their home, only 45% reported utilizing this method comparatively.

The days of a traditional brick and mortar open houses is quickly fading. This is due to such advances like video tours, You Tube videos, blogs, etc. With a multitude of mediums for showcasing a home on the Internet, all it takes is a little techno know how and your real estate agent can hold an online open house for you 24 hours, 7 days a week. So which would you rather have? Would you rather have an open house once or an open house every day, any hour of the day at a buyers convenience?

You’ve Inherited A House…Are You Ready For What’s Next?

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Many people find themselves with a house after the death of a family member. While this works out for some people, many are not prepared for the arduous task of taking on someone else’s home. The decision of whether to keep or sell the home could be laden with fear, obligation and extreme emotion. The best way to make a decision on what to do with the home you just inherited is to try to take the emotion out of the decision. Apply a business sense to the decision. Ask yourself a few questions such as:

1. How much is owed on the home?

2. Can I afford the upkeep of the home?

3. Are there any back taxes due, HOA fees, etc?

4. How close do I live to the home? Would it be practical for me to keep an eye on the home?

5. Has the home has fallen into disrepair and can I afford the repairs?

Once you have tackled a few of these questions from a basic business standpoint, you will have a clearer picture on what you should do with the home you just inherited. Should you decide that it is best to sell the home that you’ve inherited, it is wise to seek the professional advice of a local licensed real estate agent.

Should You Be Negotiating Or Simply Fact Finding Before The Buyer Actually Sees The Home?

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A seemingly simple question but one that seems to elude many real estate agents. Should You Be ‘Negotiating’ Or Simply ‘Fact Finding’ Before The Buyer Actually Sees The Home? In the world of real estate, these two skills are essential when it comes to writing an offer for a buyer. But real estate agents must understand that there is a difference between the two. ‘Fact Finding’ consists of asking questions regarding the listing or the home.

Fact Finding Questions Are Things Such As:

1. Is there a Home Owners Association? If so, how much is the Monthly Home Owners Association?

2. Do you currently have offers on the home?

3. When will you be presenting offers to the seller?

4. Is the home appropriate for FHA financing?

Negotiating is generally what occurs after the buyer knows that they intend to make an offer on the home. In the case of investors, some make an offer sight unseen. However, most buyers who plan to occupy the home will want to see the inside first.

Negotiating Questions Are Things Such As:

1. What types of terms is the seller looking for?

2. Is the seller firm on the price or is it negotiable?

3. Is the seller willing to contribute to buyers closing costs?

4. Is the seller willing to complete repairs on the home?

It is important to keep in mind that home buying is a process. There is little use in negotiating a home BEFORE knowing whether the buyer wants to actually purchase the home. Having a real estate agent on your side who understands the in’s and out’s of real estate can help you when you most need it.

When A Home Buyer Asks Me To Be One of Many Realtors To Show Them Homes, I Am Afraid I Must Decline The Offer

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Many buyers do not understand what a Realtors business entails. A simple analogy of this may help the average buyer understand why I must decline an offer to be one of many Realtors to work for them in a simultaneous fashion. Take a moment and think about what you do for a living. Really it does not matter what you do. Just imagine that you are ready to work and someone comes to you and says, “Hey I have two or three other people who are also going to do the same job. I want you to show up everyday, give it your all and then whoever finishes the job first is the one who will get paid.”

What would you say? Would you agree to come to work each day in hopes of a pay day? You have to also factor in that you are going to spend hours on this job everyday and must pay for gas to get to work, utilize time to do the job, possibly pay for supplies and then not only is it a possibility that you won’t get paid but that you will have expenses that you will not be reimbursed for either. In essence, it costs you to go to work everyday and you have no guarantee that you will ever get paid.

Hmmm…does this sound like a job you’re ready to jump at? Have you ever watched a hamster on a wheel? They run and run with no place to go and eventually stop running at all. That is pretty much what happens when a home buyer wants to hedge their bets by utilizing several Realtors at once. I don’t think I make a very good hamster on the wheel.

For me, it is a matter of evaluating what helps me serve my clients best and what makes the most business sense. I am better able to serve a smaller group of committed individuals who are equally committed to building a business relationship with me than I am able to enter a lotto pool for several non-committed individuals and pray that my lucky number hits. Once we establish what goals the clients are looking to achieve and the fact that I am equipped and ready to assist them, then a joint agreement is entered that we will work to achieve the desired goal together. Giving 120% to clients is a joy when there is a mutual commitment. Oh and just to be clear, I still may also work with committed individuals and never get paid. Why? Because I am only paid if my clients actually buy or sell a home. There are times when for numerous reasons this just doesn’t happen. This is a known risk of the business. So you see, a Realtor such as myself, already must factor in a percentage of expenditures that are not reimbursed. But running on the hamster’s wheel indefinitely just doesn’t interest me nor does it serve the better interest of my clients at large.

When A Home Is Over Priced, How Much Should A Buyer Offer The Seller?

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So you have found a home that you would like to put an offer in on, but it looks like the home may be over priced. What do you do? First and foremost when contemplating placing an offer, a buyer should always have their real estate agent run a report of comparable home sales. By doing this, you will have a greater knowledge about what similar homes are selling for. Once you know what similar homes are selling for then you can make a decision as to what you would reasonably want to offer for the home.

When placing your offer, it is wise to include recent closed comparable sales so that the seller understands what you are basing your offered price on. Sometimes home sellers need to see the hard facts before they will consider an offer lower than their listing price. Also be sure that your agent prepares a complete offer package. Including supporting documents such as proof of funds to close, pre-approval letter, etc. will help to show that you are a serious buyer.

Winter Home Maintenance in The Inland Empire

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Some Call It Winterizing, but in the Inland Empire, We’ll Just Call It Winter Home Maintenance

We probably don’t get cold enough in most Southern California areas to really do “winterizing” on our homes but we can certainly prepare for winter. Homes in the Inland Empire may need a little spot check to make sure we are ready for any rain.

1. Inspect and tune heating system

2. Time to clear the rain gutters. We may not get much rain but you better not forget those gutters.

3. Have your fireplace inspected for cracks and wear. Clean out the fireplace to get rid of old soot and logs.

4. Adjust your sprinkler system to compensate for the need to use less water.

5. Replace batteries in smoke detectors and carbon monoxide detectors

What Happens When The Appraisal Comes Back Lower Than My Offered Price On My Corona Home Purchase?

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What Happens When The Appraisal Comes Back Lower Than My Offered Price On My Corona Home Purchase?

When an appraisal comes back lower than a home buyers offered price, there are several courses of action that a home buyer can take with their Real Estate Agents help. The first step is to thoroughly review the written appraisal. There are occasions where there are errors in the appraisal and these items may need to be addressed.

Once the appraisal has been reviewed, if no errors are found, then a buyer has several options:

1. The buyer may decided to continue with the purchase despite the lower appraised value so long as they have enough of a down payment that would make this feasible with their loan.

2. The buyer may request a reduction in the sales price based upon the homes appraised value. The seller has the right to agree or not agree to this request.

3. So long as the buyer has not released their appraisal contingency, if the seller does not agree to reduce the sales price based on the appraised value, then the buyer may decide to cancel the contract to purchase the home.

Once a buyer’s decision has been made as to how they want to deal with an appraisal issue, then its is time to contact the seller’s agent. Quite frequently appraisal issues are worked out and everyone gets what they want. The buyer gets a new home at a fair price and the seller gets to move on. While these issues can cause one’s heart to pound profusely when they occur, an experienced Corona Real Estate Agent can help you maneuver through this not so uncommon issue. Best of luck!

Do You Know The Difference Between A Necessary Repair vs A “Desirous Repair”?

By Keisha Hosea Leave a Comment

Do You Know The Difference Between A Necessary Repair vs A “Desirous Repair”? Okay, so maybe I have coined my own term here. Yes, I am asking about the “desirous repair.” So since I am asking the question of whether you know the difference between a necessary home repair vs. a “desirous home repair,” I will provide some definitions.A necessary home repair would include those items that are in such uninhabitable, unlivable condition, unsafe condition that any reasonable person would expect and request such repairs. For example, the banister is missing from the staircase or the carpet is missing and concrete floors are exposed in a less than artistic fashion.Now that leads us to the “desirous home repair.” That would include such items as replacing the tile kitchen counters that are in reasonably good condition with granite counters or changing the carpet because it is blue and you want beige.

Most home buyers would like to find a house that is more or less move in ready and fits their minds ideal. While there is nothing wrong with this idea, we must also address this practically. This must be particularly addressed as more short sale and foreclosure properties enter the real estate market place across the Inland Empire. Many of these properties have been subjected to deferred maintenance by home owners who just did not have the financial means to keep them up or because they have sat vacant for indeterminable amounts of time and fell into disrepair.

As you search for the perfect home remain cognizant that your ideal property may exist but you may have to put a little elbow grease into it. Definitely try to negotiate the best real estate deal possible but be wise in asking for necessary repairs only. Despite what you may see on the national news regarding real estate, there are home sales and multiple offer situations happening across the Inland Empire in cities such as Riverside and Corona.

Believe It Or Not, I Really Do Work All Day EVERY day…I’m A Realtor!

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Believe It Or Not, I Really Do Work All Day EVERY day…I’m A Realtor!

Most people grow up and take traditional jobs. You know the kind that you have a set time to be there each day, the two 15 minute breaks, the hour lunch, sick time, vacation time, health benefits, 401K and the set time to get off work.

Then there are the Entrepreneurial types. These are the people who strike out to create a business of their own. This is where real estate agents or Realtors like myself usually fall. While there are some who work in the traditional sphere, most are entrepreneurs. But is appears that much of the public really does not understand this. Just like other entrepreneurs, a Realtor must wake up and perform business each and every day. They must show up EVERY day at their office even when there does not look to be a customer in sight. Why? Because we run a business. The next time you go to a store you love, you will have the expectation that it is open during its business hours. Well the same holds true for a Realtor’s business.

I write this because I have often been asked by well meaning individuals, “What did you today?” or “Did you go to work?” This is an interesting question because I go to work every day excluding my regularly scheduled off days. My telephone answering machine tells callers exactly what my schedule is each and every day for returning calls and changes each and everyday. Therefore, I remain befuddled by these questions. So I have come to realize that most people cannot truly wrap their minds around what it is a Realtor actually does all day since a Realtor typically does not have to clock in and out and they seemingly control their own schedules. Surely most Realtors do not work all day every day, or do they?

So humor me for a moment while I give you a small sample of what a very usual day may be like for me.

4:00-6:00 a.m. check emails, change telephone answering machine, update blog articles, check Multiple Listing Service, make calls to lenders back east on files.

6:00-6:30 a.m. get dressed and prepare breakfast

6:30-8:00 a.m. prepare children for school and off we go!

8:00-9:30 a.m. Time to get my own workout in

9:30- 10:00 a.m. Showered and changed for the day

10:00 a.m. -11:00 a.m. return phone calls to clients, lenders, other real estate agents etc. Finish prep work for today’s showings and listings. Grab a breakfast bar on the way out the door.

11:00 a.m. -12:00 p.m. Fight traffic all the way to listing appointment. How can a 30 minute drive turn into an hours drive so quickly? Answer phone calls and return phone calls throughout the drive all via my trusted bluetooth and cell phone.

12:00 p.m.-1:00 p.m. Listing appointment with client. Go over sales comparable, tour home, take pictures, sign paperwork, etc.

1:00 p.m. off to lunch appointment with next client. Thank goodness it’s not too far.

1:30-2:45 p.m. Lunch appointment with client to discuss current market and best plan for their home

2:45 p.m.- 3:45 p.m. back on the road, more phone calls. Escrow just called and said loan docs are in on one of the homes for sale in Corona. I need to get to Riverside by 4:30 to show homes to a first time buyer.

3:45-7:30 cut through all the traffic and over to Riverside to show homes to first time buyers. Guess I will run over and pick up my sign from the house in Corona.

7:30-8:00 drive home. Prepare dinner for kids and get them ready for school tomorrow.

So as you can see based on a small sampling…YES, I Really Do Work ALL DAY, EVERY DAY! I do not have a traditional job. The freedoms that you think I have either do not often exist and the ones that do exist come with a price. I eat in my car and on the run. Occasionally, I eat lunch with a client and it allows me to multi-task. I make and receive calls anytime I am not in the presence of clients. I start out early and tend to have pretty long, intense days. I have an e-fax and email capabilities on my phone. I even have a printer in the trunk. I am plugged in and working all day. When I am working, I am REALLY working. Some days ( more often than not with the market downturn) I do not get compensated. I do not get paid sick days, paid holiday time or sick time. I am an entrepreneur and would not trade what I do. But the next time you are wondering what a Realtor like myself does all day…give this a quick read.