Date Archives: October 2020

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Is the highest bid the best bid?

An offer on your home moves you one step closer to the finish line in the selling process. And if you're lucky, you'll receive multiple offers from a range of bidders. 

The highest bid is the obvious choice, right? Not necessarily. Here's what to consider before moving forward on an offer:

Focus on your priorities. Take this step early, before any offers roll in. Make a list of what's most important to you in the sale of your home, like a tight moving deadline or your financial needs. Are there any requests that would make an offer a deal breaker for you? 

Review the contingencies. Now that you've established your top priorities, determine your bidders' conditions for the sale. Common contingencies for potential buyers include a property appraisal and a home inspection. 

Compare earnest money amounts. People who are interested in purchasing your home need to show you that their offer is made in good faith. An earnest money deposit proves the buyer is serious about the transaction. The more money they put into the deposit, the more likely they are to be able to back it up with financing.

Be aware of unusual requests. A bidder could ask you to make unnecessary repairs or leave all your appliances in the home for them. Their offer might be high, but if something unusual interferes with your top priorities, it might be best to move on to another option. Together, we'll carefully read over their requests and discuss any questions or concerns you may have.

Are you ready to get a great offer on your home? Get in touch today.


Essentials to Keep in Your Emergency Kit

Let's face it: You can't predict the future. That's why having a fully stocked emergency kit is so important. No matter the time of year, it's always better to play it safe.  

Would you and your family be prepared, just in case?  Putting essential supplies together doesn't have to be a chore and can even be done fairly quickly. You just need a list and a plan.

Need ideas? See below for useful items in any situation. 

  • Communication: Stay connected even if you lose power. Try a hand-crank or battery-powered radio — preferably one with charging ability to keep your devices running. 

  • Lighting: A flashlight and batteries are a must. Get a few different types, like lanterns, floodlights and keychains. You never know how much light you'll need or where you'll need to take it. You can also stash a few candles and some matches.

  • Food and Water: Pack at least three days' worth of water, nonperishable foods and canned goods — and don't forget the can opener. Think beans, nuts and seeds, protein bars and dried fruit.  

  • First-Aid Supplies: You'll want a first-aid kit, complete with bandages, gauze, burn cream, antiseptic, sterile gloves, safety pins and more. Pain relievers and an extra supply of prescription medications are important, too.

  • Clothing and Bedding: Every family member will need a few changes of clothes and portable bedding like sleeping bags, blankets and pillows.

  • Miscellaneous Items: Cash, personal documents and paper maps might not seem essential now, but they could come in handy. Other nice-to-have items include duct tape, cleaning products and a multitool.

There's no telling what the future may bring, so it's important to be prepared for anything. Get in touch today for more home safety tips.


4 Reasons To Buy A Home This Fall

If you have been thinking of buying a home now might be the time to act, while interest rates are low and the economy is gaining strength. Still on the fence on if you should buy a home or not? Here are a few reasons that might help convince you:

1.Unprecedented importance of home

Covid 19 shut downs have had an impact on our lives and has changed how we do business, making to so we had to focus on being at home and figure out how to do work and school from home, we became conscious of the pros and cons of our living situation. We were forced to adapt, we made alterations to our living spaces and reorganized, and in doing so, we became sensitized to the quality of sunlight, air, sound and the amount of space we had to work with. With so much time at home it has motivated many homeowners to assess their immediate surroundings and consider upsizing or downsizing or helped them decide if they need to move to a new environment altogether.

  1. Home repairs and renovations while sheltering in place
    Many people have reallocated funds such as stimulus checks along with money that would've been spent on travel, entertainment outside the home and shopping trips to help fund their home improvements. Homeowners who were forced to stay indoors were able to take advantage of these funds to reinvent their homes and add features that manybuyers find attractive such as home gyms, entertainment centers, outdoor recreation areas, upgraded kitchens and baths, this helped make home owners more comfortable but it also increased the value and salability of the home.

3. Low interest rates

Just like we Brokers depend on the banks, banks depend on brokers real estate transactions to help keep the economy moving. Mortgages are one of the primary sources of income for banks, which they can't survive without. Conforming loans under $760,000 are not kept on the banks books but are sold to Fannie Mae and Freddie Mac these are the bread and butter of most banks given the number of properties traded in this price range. To stimulate mortgage activity, the Federal Housing Finance Agency lowered interest rates. The lowered interest rates have motivated current homeowners to refinance mortgages, first-time buyer's and new homeowners to apply for mortgages and current homeowners to refinance their current loans.


4. Leftover spring inventory may result in deals

Home sellers tend to go on the market for the first time in the spring. They often list their homes too high out of the gate, which could mean that a series of price reductions follow during the spring and the summer months.

These sellers have fewer chances to capture buyers after Labor Day. By October, buyers are likely to find desperate sellers and prices that may, in fact, be below a home's true market value.

Do you want to move forward in finding a new home but not sure where to start or how to navigate in this crazy real estate market, contact me and I will walk you through the steps and help you on your way to finding the perfect place for you to call home!

#livelifeinbend #insunriver #oregonhomes #centraloregonrealestate #sunriverrealestate #buyhome #homebuying#realestate


How to Buy a Home Sight Unseen

If you're thinking about buying a house right now, you're probably wondering how best to go about it. The truth is, you can still do in-person tours in some places, depending on the local regulations, but many people are buying homes right now without stepping foot inside until the deal is done.

Sight unseen deals are nothing new, but up until recently they were used mostly for foreign buyers, investors, or long-distance home shoppers. These types of remote deals have become more mainstream in the wake of the COVID-19 pandemic, and there's evidence to suggest they're more than a passing trend.

A survey from 2018 showed that about 20% of homebuyers had made an offer on a home without seeing it first. A more recent, COVID-19-influenced survey, found that 45% of homebuyers in the last year had made an offer without seeing the property in person. In April of this year, found that "24% of 1,300 consumers surveyed said they'd be willing to buy a home without first seeing it in person."

If you're considering purchasing a home sight unseen, keep these tips in mind:

Work with the right agent
If you're buying a house without touring it first, you have to depend on your agent to be your eyes and ears. It's crucial that you go with a local expert, especially if you aren't super familiar with the area.

Take advantage of technology
Online listings with 3D home tours are up by more than 600% since the pandemic hit. Listings that have this functionality are likely to rise to the top because they give you a better feel for the home. Remember, whether you're looking at a carousel of images or a 3D tour, don't forget to ask your agent to go a step further.

"Once you know which homes you're most interested in, have your agent book some showings and take you along on the tour using FaceTime," said HomeLight. Being able to view the property with someone in real-time will allow you to ask questions while getting an understanding of the "flow" of the home.

Then, ask for a floorplan
Today, you're more likely to find home listings that include a floorplan image. If you don't see one, make sure to ask. While video tours offer an understanding of how a home feels, a detailed floorplan helps you ensure it measures up to your needs.

Knowing the full layout of a home will give you some insight on what day-to-day life will be like. For example, watching a video tour might not reveal the fact that the new home office you're excited about shares a wall with a noisy laundry room. Also, being able to quickly reference dimensions will allow you to imagine how you and your furniture will fit into the new space.

Order an appraisal and a home inspection
Even in cases where they're not required, you don't want to skip these steps. Especially when you can't or don't want to tour a home yourself, having expert and objective documentation regarding the value and condition of the home is more important than ever.


Setting the Right Price for Your Home

Setting a Price for Your Home
Determining the right price to list your home can be tricky business.  It is both an art and a science.  Use these tips to arrive at a listing price more easily.

The Pricing Dilemma
The trouble with pricing your home above its value isn't just that you might not end up getting that price. After all, you can always lower the price later, right? The real trouble is that the longer your home stays on the market, the more it loses its luster, and the more difficult it will be to sell. 

On the other hand, setting your price too low isn't necessarily a disaster, though it can be. Sometimes, a home priced below its worth will receive multiple offers, driving the price up to market value. But there's no guarantee that it will work out that way, so it's still a big gamble. The question is, how do you zero in on that magic number?

Check Out Comparable Listings and Sales
Research homes similar to yours listed in your neighborhood during the last three months.

  • Best Time to List
    Traditionally, March through June seems to be the best months to get the most money for your house.  There are, however, alternative theories about when is the best time to sell. Let's talk to discuss what is the best time to list your home.
  • Curb Your Emotions
    Resist the urge to allow your emotional connection to the house trick you into overestimating its worth. 
  • Get It Into Shape
    Giving your home a deep cleaning and a little DIY love before listing it can help boost its curb appeal and may allow you to price it a bit higher. 
  • Get a Comparative Market Analysis
    I can supply you with a free comparative market analysis (CMA).  A CMA involves gathering data on recently sold nearby homes in your price range.

Find a Great Real Estate Agent
One of the keys to setting the right price for your home is having the right real estate agent in your corner – someone with the skills, experience, and resources to help you get every penny your home is worth.

Please don't hesitate to reach out when you're ready to learn more about listing your home! I'm here to help with answers to any questions you may have, from setting the price to closing the sale.


5 Tips To Make Moving Day Easy

If you're not exactly jumping for joy at the thought of packing up your life and moving to a new home, you're not alone.  Just when you think you've cleaned your last closet and sorted through that final bin, "BAM!" more work suddenly appears.  

Moving Day
To keep your move (and head!) from spinning out of control, follow these five tips to make moving day as easy as can be.

  1. Start Planning Early
    Avoid last-minute planning. Allow a minimum of 30 days to create your plan to ensure everything falls into place.

  2. Your Moving Strategy
    Determine how you'll move to your new home. For shorter distances, enlist the help of close friends and family. Renting a truck goes a long way in ensuring that your move is easy and hassle-free. If you're relocating a long distance, contact moving companies and hire the best one that meets your needs.

  3. Keep Your Service Providers in the Loop
    Inform your movers of what to expect during moving day. Communicating such information expedites the relocation process since the movers will be in a better position to calculate costs, distances to be covered, and the right tools to use.

  4. Dispose of Unnecessary Items
    Moving offers you the opportunity to sort through your belongings and de-clutter your life. Sort and donate extra belongings to a charitable organization. Alternatively, holding a yard sale is a good idea too.

  5. Take Stock of All Items
    Taking an inventory of your property is essential--especially when using a moving company. With an inventory list, you have a permanent record of your property in case anything is lost or damaged. Labeling all of your packing boxes helps determine the contents of the box and in which room they belong.

By using these tips, you may not be able to move mountains but you can at least make moving into your new home easier.

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