Home Sales Hit Highest Level of the Year

The National Association of Realtors (NAR) released their existing sales report earlier this week. The report revealed that “sales bounced back in September to their highest annual pace of the year”. As the chart below shows, after a very slow start at the beginning of the year, residential home sales have been increasing consistently.

Looking to buy, sell or invest in Real Estate? Contact:

David Demangos

858.232.8410
Locally Known, Globally Connected
Luxury Home Marketing Specialist
Global Property Specialist

David@AwesomeSanDiegoRealEstate.com
www.AwesomeSanDiegoRealEstate.com
Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

Tips to Sell Your Home in the Fall

If you are trying to sell your home this fall, consider making some home improvements to boost the chance of selling.

Check out these ways to keep your landscaping and exterior in top condition.

• Rake leaves frequently; not only does it look better, but keeping loose debris from walkways creates a safer environment for potential buyers.
• Mulch your garden beds. This will provide an added layer of protection for your plants as winter creeps in.
• If your summer flowers are fading or wilting after a long season, create a welcoming experience by replacing them with fresh mums and other fall friendly colorful flowers.
• Draw attention to your front entry by adding a fall wreath to your door.

Fun Halloween Decorations Ideas

Cobweb Cookies

To conjure up a devilish-looking dessert, frost slice-and-bake sugar cookies with white royal icing. Then, starting at the cookie's center, pipe circles of black icing; create cobwebs by alternately dragging a toothpick from the center to the edge, and from the edge to the center.

Creepy Crawlers

Scooped-out mini pumpkins become spidery votives, thanks to tealights and pipe cleaners 

Wicked Window

Use candlelight (the battery operated ones for safety) to create dark shadows in the corners. Here, the ghostly white tapers in a flea market candelabra enhance the creepiness of cobwebs and flying bats.

Super Bowl

Filled with cider, a hollowed-out peach pumpkin becomes an organic punch bowl. Four water-jug gourds act as feet.

Have a Safe Halloween!

David Demangos 

Global Property Specialist 

858.232.8410

www.AwesomeSanDiegoRealEstate.com

Our Team goes to Extremes to Fulfill your Real Estate Dreams

Finding the Right Agent is Crucial

The information delivered by your neighborhood real estate agent in the past is now available on the internet. You no longer need agents for information regarding which homes are for sale or what houses in your neighborhood sell for. You can easily find that information online. This information itself is no longer what you need from your real estate professional. However, you still need someone to deliver a thoughtful analysis of this information.

“There’s a large gap between information and actionable knowledge.”

In other words, information by itself is essentially useless.

What’s truly important is being able to understand, analyze, and use the information for the best outcome. And that’s what a real estate professional’s job has become!

What you really want is someone who can…

The Truth About Buying a Home: You Don't Need 20% Down

In a recent survey, How Americans View Homeownership, it was revealed that 68% of Americans feel that now is a good time to buy a home and 95% said they want to own a home if they don’t already.

Confusion Creates Paralysis

However, the survey also reported that many are afraid to purchase a home because of uncertainty about qualifying for a mortgage or navigating the home buying process. Though 74% said they “now and understand the financial process involved in buying a home, they also gave answers that suggest otherwise. For example:

• 30% of respondents believe that only individuals with high incomes can obtain a mortgage
• 64% of respondents believe they must have a “very good” credit score to buy a home
• 44% believe that a 20% down payment is required

Is Real Estate Heading in the Right Direction?

In a recent Gallup poll, Americans were asked to rate 24 different business sectors and industries on a five-point scale ranging from "very positive" to "very negative." The poll was first conducted in 2001, and has been used as an indicator of “Americans’ overall attitudes toward each industry”.

For the first time since 2006, Americans had an overall positive view of real estate, giving the industry a 12% positive ranking. So, yes real estate is headed in the right direction!

Americans’ view of the real estate industry worsened from 2003 to the -40% plummet of 2008.  Gallup offers some insight into the reason for decline:

Prices Dropped

"In late 2006, real estate prices in the U.S. began falling rapidly, and continued to drop. Many homeowners saw their home values plummet, likely contributing to real estate's image taking a hard hit.”

Housing Bubble

“The large drops in the positive images of banking and real estate in 2008 and 2009 reflect both industries' close ties to the recession, which was precipitated in large part because of the mortgage-related housing bubble.”

Bottom Line

“Although the image of real estate remains below the average of 24 industries Gallup has tracked, the sharp recovery from previous extreme low points suggests it is heading in the right direction.”

Who do you know looking to buy, sell or invest anywhere in the U.S.? Call:

David Demangos

Global Property Specialist

858.232.8410
David@AwesomeSanDiegoRealEstate.com
www.AwesomeSanDiegoRealEstate.com

Our Team Goes to Extremes to Fulfill Your Real Estate Dreams! 

5 Reasons You Shouldn't For Sale by Owner

Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.

Here are five reasons:

1. There Are Too Many People to Negotiate With...
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.
-The buyer who wants the best deal possible
-The buyer’s agent who solely represents the best interest of the buyer
-The buyer’s attorney (in some parts of the country)
-The home inspection companies which work for the buyer and will almost always find some problems with the house
-The appraiser if there is a question of value
-Your bank in the case of a short sale

2. Exposure to Prospective Purchasers
Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an extensive internet strategy to promote the sale of your home. Do you?

Future Homeowners Share American Dream

Two recently released reports indicate that both young adults (Millennials) and teenagers (Generation Z) still see homeownership as an important piece of their future success.

A report by The Demand Institute, Millennial and their Homes: Still Seeking the American Dream, revealed that the Millennial Generation is optimistic about their financial future and still believe in homeownership. The findings were based on a survey of millennial households (ages 18 to 29).

The report predicted that:

• 8.3 million new Millennial (Gen Y) households will form in the next five years
• $1.6 trillion will be spent on home purchases by Millennials and $600 billion on rent over the next five years

Millennials optimistic about their finances and homeownership

Of those surveyed:

• 74% expect to move within the next five years
• 79% expect their financial situation to improve
• 75% believe homeownership is an important long-term goal
• 73% believe homeownership is an excellent investment
• 24% already own their home and
• An additional 60% plan to buy a home in the future
• 44% do think it would be difficult to qualify for a mortgage

Don’t Get Caught in the ‘Renter’s Trap’

In a recent press release, Zillow stated that the affordability of the nation’s rental inventory is currently much worse than affordability of the country’s home sale inventory. The release revealed two things:

1.    Nationally, renters signing a lease at the end of the second quarter paid 29.5% of their income to rent

2.    U.S. home buyers at the end of the second quarter could expect to pay 15.3% of their incomes to a mortgage on the typical home

Furthermore, renters pay more than the average of 24.9% that was paid in the pre-bubble period while buyers actually pay far less than the 22.1% share homeowners devoted to mortgages in the pre-bubble days. One of my smart neighbors just sold his boat today, and is using the money for his downbpayment on a new home in Reno. (Smart move)

Don’t Become Trapped

If you are currently renting you could get caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment. Zillow Chief Economist Dr. Stan Humphries explains:

"The affordability of for-sale homes remains strong, which is encouraging for those buyers that can save for a down payment and capitalize on low mortgage interest rates… As rents keep rising, along with interest rates and home values, saving for a down payment and attaining homeownership becomes that much more difficult for millions of current renters.”

 Know Your Options

Perhaps you already have saved enough to buy your first home. HousingWire recently reported that analysts at Nomura believe:

“It’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. 

It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.”