Five Reasons Why Homes Don’t Sell

With the market now returning to a normal rhythm, some homes sell right away, but often some sit on the market for several months.  It can be a very frustrating time for homeowners when they need to sell but just can’t find a buyer.

The best thing to do in this situation is to step back and examine why there is no interest in your property and what you might need to do to attract potential buyers.

Here are five reasons why your home may not be selling.

1. Want to sell your home but it won’t sell? 

Perhaps it is over-priced!  Everyone wants the best price when they sell their home but it is important to be realistic when you list your property.  Over-pricing is the most common reason that homes don’t sell.  The truth is, ultimately the buyer, not the seller will determine the price of a home.  You must take a look at comparable properties in your area and determine whether you have priced your home at the high end of the curve.

2. Maybe it doesn’t show well? 

Even the best kept older homes show their age.  The good thing is that you can make some relatively minor changes that will enhance the buyer appeal.  The absolutely number one best bang for your buck is paint.  Think $10 in the can and $1000 on the wall!  Touching up the rooms will give the house a fresh appeal and a clean smell.

3. Bad real estate agent

Yes, they do exist.  While most agents are hard-working and earn their commissions, there is always the chance that your agent just isn’t up to the job.  If your agent is difficult to work with and doesn’t communicate clearly and frequently, chances are you may have to start looking around for another representative.

4. Poor or ineffective marketing to try and sell your home

It used to be a “for sale” sign and an advertisement in the paper would be all the marketing you would have to do to sell your home.  Nowadays, most agents use a multi-level system which may include professional photography and extensive internet advertising.  Talk to your agent to see how much exposure your home is getting in digital media.

5. Location.

If your neighborhood is in a less than desirable area, next to a noisy highway, or has a large number of messy neighbors, your location may just be the problem.  The bad news is there is nothing much that you can do about it.  The other side of the coin is to lower your price.  It may not be your number one choice to sell your home, but if your location is bad, it just might be the only way.

Take a few moments to consider these suggestions and how each one may apply to you.  Sometimes it’s a question of getting good advice from the right real estate agent. Nancy Puder is the owner and broker of Signature Properties, a prestigious property management and real estate sales company in Arroyo Grande, CA.  You may contact her at (805)710-2415 or email Nancy@SignatureProperties1.com

Landlords Should Make Repairs Now

As we all know, a repair made sooner is usually handled more simply than one that is done much later. This is because most problems only get worse when left unaddressed. The cost that we are trying to save by putting the repair off until “later”, often ends up costing us 2-3 times more than if we had just fixed it (and fixed it right) in the first place!

I think that some landlords honestly believe that the tenant should just be grateful for a place over their heads and actually get irritated when the tenants ask to have repairs done, or worse, improvements to the property! Of course, I’m teasing “those few of you out there” a little, but for some of you, it hurts to hear this.

My company  has worked with landlords for many years now and has helped many of them to bring their properties up to a standard that a good tenant expects. (Now…if you are satisfied with below average tenants who only pay their rent sometimes and who aren’t interested in a nice, clean residence and enjoys living like a slob, this article won’t be for you).  But, if you want a nice, clean tenant who treats the property in a respectful, appreciative way and who runs down to pay you on the first of the month, every month, then you may want to hear the rest of what I have to say.

It makes sense that a tenant will  want to get the most they can for their rental dollar and feel safe in their surroundings.  That said, It is almost always less expensive to make repairs immediately, than to delay action and allow the problem to worsen.  Ongoing preventive maintenance to reduce the need for large maintenance expenditures should be the goal of all landlords. This approach makes good sense and, ultimately, provides more profit for the owner.

When there is a tenant move-out, the landlord should not be only concerned with what they are going to charge the out-going tenant before their security deposit is returned.  Normal wear and tear should be expected. The realistic landlord should usually factor in some expense out of their own pocket to keep the property in optimal condition in between tenancies.  Some landlords feel that the outgoing tenant should bear all of that cost, however, the law actually forbids landlords from charging the outgoing tenant cost of normal wear and tear.

There is a law in effect,  since January 2004, that gives the tenant a right to a pre-inspection prior to their move-out. This is a good time to take a good look and start making plans for perhaps paint, if needed, minor or larger repairs, replacement of toilet seats, etc.

It has been my experience that a happy tenant is usually a good tenant. I am, of course, not referring to the constant complainers who are never happy with whatever you do. My advice is to establish good communication when you show  the home to a prospective tenant and do a thorough walkthrough.  This will all but eliminate complaints shortly after their move in and throughout their tenancy. Let the tenant know that you are trusting them to take good care of the property and that you can be reached easily if there is a concern.

If you have any questions concerning your rental property, please call me  anytime at (805)710-2415 or email Nancy@SignatureProperties1.com. I always enjoy hearing from you! Nancy Puder is the owner of Signature Properties, a prestigious real estate sales and property management firm in Arroyo Grande, CA.

Reasons that sellers should list their homes in January. The holidays are behind us again and here we are about to experience a new year in 2012.  If you have been contemplating on whether to sell this year, this is a good time to put your home on the market.  Let me explain why.

One reason is that many buyers have put their home search on hold over the holidays.  As the decorations are being put away,  most people reflect on the past year and think about how they would like to improve their lives over the next 12 months. Often, these thoughts include a move whether up or down or for the first time.

Another reason to sell now is that buyers have pent up energy after trying to gauge what the market is going to do over the past couple of years.   They are beginning to realize that prices have stabilized in many areas, homes are affordable and interest rates are historically low.   Those who have been waiting for the bottom are making the decision to go forward now.

The mortgage interest deduction is a big factor as people are beginning to think about what they will pay in taxes soon.  The mortgage interest deduction is still a wonderful opportunity to pay less to Uncle Sam while enjoying the benefits of owning your own home.  Most buyers realize this and resolve to get into a home so that they will have a big tax deduction to write off next year.

Retirement is also a factor in buyer decisions to move forward at the first of the year.   As we all know, the Central Coast of California is one of the most beautiful areas that someone can choose to retire in.  Many of these buyers are purchasing their retirement home now and leasing it until they are ready to actually move.

After a long slump in the market, this buyer energy is exciting and should be taken advantage of.  As in any recovery, it usually surges, slows down, sometimes stops and then gets going again.  Timing can be everything so this is a good time to take action.

If you need to short sale your home, this is also a good time to make a move in that direction.  There are new laws to protect homeowners from the banks going after them for the difference owed.  This is a good time to make a decision on whether to go ahead and sell  or not and make a plan for you and your family.  If this is your situation, refer to my last post on Short Sale or Foreclosure.

If you need help to sort it all out, contact me for a free consultation and I will do all I can to help guide you to the best decision and show you how to accomplish your goals.  Nancy Puder at (805)710-2415 Nancy@SignatureProperties1.com 

Short sale or loan modification? What if I have to choose? What is the next step if my loan modification is turned down? These are questions that are on the minds of many as we go into 2012 and I can help answer your questions individually and confidentially. 

It is going to be a great year.  Yes, I said it! One way to make this happen is to stop listening to the bad news on the television or in the newspaper!  The truth is that sales have been up in California for seven months in a row.  Consumer confidence is on the rise and the American people are figuring out how to make  necessary adjustments, if necessary, and are moving forward in their lives regardless of the obstacles they are facing!

The truth is that we are resilient people and we will not be beaten down by the economy or the negativity that threatens to consume us daily.  There are solutions to many more of our problems than we think and it is important to speak to someone who can help put things into perspective for you if you are struggling with a decision.

If you know someone who has been unsuccessful with a loan modification or is behind in their mortgage payments,  ask them to give me a call or contact me by email,  and I will help them sort through their options before it is too late to do anything at all.  There are options available other than foreclosure and there are no fees for my consultations.  Beware and warn your friends and family against anyone who is charging money up front with the promise of results.  This includes attorneys!  These are often scams and they can’t do anything for you that I can and will do at no cost to you.

Let me help you get past the pain of indecision and make 2012 a great year no matter what is going on around you! 

Nancy Puder is the owner and broker of Signature Properties, a distinguished real estate firm on the Central Coast of California.  You may contact her at (805)710-2415 or email Nancy@NancyPuder.com

Christmas 2011 — Birth of a New Tradition

A  friend of mine sent this to me and I wanted to share it with you and your friends.

As the Christmas & Hanukkah holidays approach (& other gift giving events), the giant Asian factories are kicking into high gear to provide Americans with monstrous piles of cheaply produced goods — merchandise that has been produced at the expense of American jobs.  This year let’s make a difference.   This year, why don’t we Americans give the gift of genuine concern for other Americans.   There is no longer an excuse that at gift giving time, nothing can be found that is produced by American hands. 

Yes, there is!  Join me this Christmas 2011 — Birth of a New Tradition

It’s time to think outside the box, people.  Who says a gift needs to fit in a shirt box, wrapped in Chinese produced wrapping paper?

Everyone — yes, EVERYONE gets their hair cut.   How about gift certificates from your local American hair +/or nail salon or barber? Gym membership?   It’s appropriate for all ages who are thinking about some health improvement.  How about a massage?  I would love that! Who wouldn’t appreciate getting their car detailed?   Small, American owned detail businesses and car washes would love to sell you a gift certificate or a book of gift certificates.

What teenager wouldn’t like a few certificates to the local pizzeria?

Does someone on your list want to learn how to play golf…tennis…horseback riding…sailing?? Think lessons.

Are you one of those extravagant givers who think nothing of plonking down the Benjamins on a Chinese made flat-screen?   Perhaps that grateful gift receiver would like his driveway sealed, or lawn mowed for the summer, or driveway plowed all winter, or rounds at the local golf course, or gifts from the gardening center.

There are a bazillion owner-run restaurants — all offering gift certificates.  And, if your intention isn’t the fancy eatery sort, what about a half dozen breakfasts at the local breakfast joint.   Remember folks, this isn’t about big National chains — this is about supporting your home town Americans with their financial lives on the line to keep their doors open.

How many people couldn’t use an oil change for their car, truck or motorcycle, done at a shop run by the American working guy?

Thinking about a heartfelt gift for mom?   Mom would LOVE the services of a local cleaning lady for a day.  How about a few hours from a local handyman?

My computer could use a tune-up, and I KNOW I can find some young guy who is struggling to get his repair business up and running.

OK, you were looking for something more personal.   Local crafts people spin their own wool and knit them into scarves.   They make jewelry and pottery and beautiful wooden boxes.  Go to the Arts & Crafts & Street Fairs & Farmers Markets.

Plan your holiday outings at local, owner operated restaurants and leave your server a nice tip.   And, how about going out to see a play or ballet at your hometown theatre? 

Musicians need love too, so find a venue showcasing local bands.

Honestly, people, do you REALLY need to buy another ten thousand Chinese lights for the house?   When you buy a five dollar string of lights, about fifty cents stays in the community. If you have those kinds of bucks to burn, leave the mailman, trash guy or babysitter a nice BIG tip.

Donate to your church, feed the homeless, or start any other tradition of giving during Christmas, but let’s keep it going throughout the entire year for we are blessed.

You see, Christmas is no longer about draining American pockets so that China can build another glittering city.  Christmas is about caring about US, encouraging American small businesses to keep plugging away to follow their dreams.  And, when we care about other Americans, we care about our communities, and the benefits come back to us in ways we couldn’t imagine.

Let’s make THIS the new American Christmas tradition.

This is a revolution of caring about each other, and isn’t that what Christmas is about?

Nipomo Worth Checking out!

Voted the best climate in the entire USA, it is amazing how few people on the Central Coast consider Nipomo when looking for a place to live! With all of the new development over the past several years, including a large shopping and business center,  it may be worth it to take the 10-minute drive from downtown Arroyo Grande and have a look.

Local builder, Bob Newdoll, has been building beautiful new homes at a very atttactive price in Nipomo throughout the economic recession and they are all selling quickly.  Currently, the new homes range between $359,900 -$485,000 and are sized from 1789-2420 square feet.  All include 3-car garages, granite counters, tiled baths and open floorplans.  

Located only 10 miles south of Arroyo Grande and 10 miles north of Santa Maria, Nipomo residents say they love the small town feeling they have there and enjoy the weather.  ”Often,  I will leave my job in AG and drive home to Nipomo and within a  few minutes, I am out of the fog and chill and into a balmy 74 degrees.” says one Nipomo resident.  I have the beach only a few miles away but don’t have to be cold to enjoy it!”

Nipomo has been long known for it’s rolling hills, ranches, horse properties,  one restaurant and one bank. Nowadays, residents can enjoy the relaxed lifestyle of living in Nipomo on smaller lots in newer neighborhoods and can have several restaurants, churches, salon services and banks to choose from along with two great golf courses.

If you would like to know more about homes available in the Nipomo area, contact Nancy@SignatureProperties1.com or call (805)710-2415 or to view some home designs go to www.BriarRoseEstates.com
Nancy Puder is the owner of Signature Properties, a prestigious real estate Sales and Property Management company located  in Arroyo Grande.  

Do You Need a Push?

Summer is upon us and I can’t tell you how it got here so fast!  It made me realize that if I have any clients thinking of selling their property, it would be best for them to make a move to get that started right away.  With the kids going back to school in mid-August, this is the best selling season and August will be here the blink of an eye.  

With the potential expiration of FHA loan limits in October which could press the market downward, this may be a window of opportunity to sell.  Many may not know that when the FHA  loan limits were raised a few years ago it opened up the opportunity to buy for a lot of people who would not have been able to get a loan otherwise.  FHA loans are government insured and the qualifying guidelines require a relatively low down payment and a slightly lower FICO score than a conventional loan.

Since the loan limits were raised to reflect home values on the Central Coast, the number of sales that have involved an FHA buyer has significantly increased and helped to keep our market going forward.  Although I’m not overly concerned about it, there is a possibility that we may feel the change for a short while until someone comes up with another plan.  The banks, I’m quite sure, will offer an alternative because if they aren’t lending, they aren’t making any money.

The point is that if you need a little push off the fence, today would be a good day to contact your real estate professional to discuss your optons.  I am also available to discuss your real estate needs. You may contact me anytime at (805)710-2415. Your calls are always welcome!

Nancy Puder is the Owner Broker of Signature Properties, a prestigious real estate sales and property management company in Arroyo Grande CA.  www.SignatureProperties1.com or contact Nancy directly at (805)710-2415

Nancy Puder
Signature Properties
(805)710-2415 direct line
(805)474-0100 office
www.SignatureProperties1.com

124 S. Halcyon Rd. Suite A
Arroyo Grande, CA 93420

Homes are Selling and Banks are Financing!

Contrary to what you may be hearing out there in the marketplace, homes are selling and banks are financing.  People are always mentioning to me what they’ve heard recently and many of them take what they’ve “heard” as the truth.  I sometimes smile and am amused by it, but the truth is that some people are really being hurt by having the wrong information.

The notion that you can’t get a loan right now is silly. Thousands of loans are being made daily across the country and in our local area.  I agree that the criteria to get a loan has become tighter, and that self-employed buyers need to produce proof that they are receiving enough income.  And yes, these days you have to do what we affectionately call the “lender dance” to get the money, but if you are truly qualified to buy a home, there is no problem getting one.  I hope that settles that myth.

The other rumor that homes aren’t selling is also untrue.  Homes are going into escrow and closing every day on the Central Coast. Some of these are foreclosures and short sales but not all of them.  I’ve found that the people who say homes aren’t selling are usually those who don’t want to price their home correctly or real estate agents who can’t figure out how to sell a home in today’s market.

The problem with allowing these rumors to take hold is that people are actually hurt by them.  The opportunities today in the real estate market are tremendous.  My advice is to get your information from a source you can trust, not just any well-meaning person you run across.  Who you choose to listen to can affect your future in a huge way!

Nancy Puder is the owner/broker of Signature Properties Real Estate Sales & Property Management, located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420.  You may reach her at (805)710-2415, email Nancy@SignatureProperties1.com or visit her website at www.SignatureProperties1.com

Seller Can Get $3000 to Short Sale Home!

As unbelievable as it sounds, there is a government program, not only available but widely used, that is actually giving the seller a check for $3000 at the close of escrow.   The good news is that this is a relatively easy program to qualify for as opposed to some of the other “solutions” out there right now like loan modifications which are still difficult to obtain.

This new program is called HAFA described as “a government-subsidized “Home Affordable Foreclosure Alternatives” program for distressed homeowners to sell their homes to avoid foreclosure, even if the sales price is not enough to pay off their existing mortgage loans. Under HAFA, a participating lender will pre-approve the terms of a short sale prior to listing using standard forms and specific timeframes.”

To qualify for this program, the home must be owner occupied or only vacant or rented for the past 12 months. The seller must be able to show a hardship and by the way, the hardship can be described in several different ways. The property must be listed with a real estate agent.

Anyone who has gone through the difficult process of deciding to sell their home for less than the amount owed understands that this is most often a decision that is not easily reached.  I have found that many people struggle with the moral implication of not owning up to their debt in addition to the fear that their credit will be destroyed even if only for a few short years.  We sometimes hear about the few who don’t go through this emotional battle, however, I have found that most sellers do.

I believe that it’s my job to guide the seller through the decision to do a short sale, then to help them through the process while helping them to retain their dignity and self-respect.  I love the $3000 incentive at the end that HAFA provides because most short sale sellers have exhausted their finances (and beyond) by the time they close the escrow

If you would like to find out if you qualify for the HAFA program and are thinking of doing a short sale on your home, call me at (805)710-2415 for a private consultation at no cost.

Nancy Puder is the owner/broker of Signature Properties Real Estate Sales & Property Management, located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420.  You may reach her at (805)710-2415, email Nancy@SignatureProperties1.com or visit her website at www.SignatureProperties1.com

When you decide to sell your home and invite an agent to come by to list the property, a good part of the appointment is centered around the Comparative Market Analysis (CMA).  If you are not familiar with this term, here’s a brief overview of how a CMA works…It’s all about your home versus every other comparable property in the immediate or surrounding area.  This is how agents help their sellers establish a realistic asking price.  Recently sold listings, listings that have expired and active listings all need to be taken into account while establishing an acceptable price range.

Active Listings are your competition.  A good move is to attempt to out-price your competitors as you address subtle differences in value between your home and the rest.

Expired listings should be considered since those are the ones that were in many cases overpriced and therefore, did not sell.  Recently sold or closed listings are the homes that made it to closing and obviously the successful ones.  It’s important to use these homes as an indicator as to how well your home will do in the current market.

I can’t stress enough how important it is to price your property correctly in the beginning.  One of the most frequent questions that I receive from prospective buyers is: How long has it been on the market?  If the buyer perceives that it’s been on the market for too long. They will often “low ball” their offer, assuming that you are either desperate or that there is something wrong or undesirable about the property.

When you are ready to discuss the CMA with your agent, be sure not to place much emphasis on anything that sold prior to three months ago.  If you sell your home, the majority of buyers will be obtaining a home and when the bank sends out an appraiser, he or she will only consider properties within that time frame.

I hope this information is helpful to you and just so you know, I’m never too busy for your referrals!

Nancy Puder is the owner/broker of Signature Properties, a prestigious real estate firm located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420.  You may reach her at (805)710-2415 or visit the website at www.SignatureProperties1.com