Keep Your Home Safe While on Vacation

With Christmas fast approaching, you might already have vacation on your mind...so I wanted to share with you on this little video clip my favorite safety tips. In fact, I have multiple critical steps to prepare your home for safe keeping while you're away, to keep your nest safe and secure.

This is exactly what I did to prepare my home while I'm on vacation:

The best way to keep your home safe in your absence is to make it appear you are home, leaving absolutely no clue you're actually away. Light, time and noise are your greatest weapons to accomplish this. Follow these tips to ready your home and keep it safe:

- Ask someone you know and trust to keep an eye on your house.

For short trips, ask one of your neighbors to pick up your mail and your newspaper. If you are going to be gone longer, however, be sure to stop by the post office and have your home mail delivery stopped until you return.

Be sure to provide neighbors, friends and family members with emergency phone numbers so you can be reached quickly. It's a good idea to leave a spare house key with a relative or neighbor as well.

- At least a couple of weeks before you leave for vacation, decide what to do about your pets. You may want to have a friend or neighbor stop by each day to provide food, water and exercise. Or you may want to hire a professional pet sitting service or take the pets to a reputable kennel. This decision should be made well in advance so that proper arrangements can be made.

- Use timers on lights, televisions and radios to provide sound and illuminate the inside of your home.

- If you still have a home phone, change the setting on your answering machine so it picks up on the first or second ring—or just turn down the ringer. A constantly ringing phone is also a good sign no one is home.

- For long absences, you may want to turn off the main water valve. This will help avoid problems with frozen pipes in winter and leaking pipes in the warmer months as well as other plumbing issues.

- Keep shades up and blinds and curtains open to make it appear you're home.

- Keep bushes and shrubs near your home's entrance and walkway well trimmed. This will eliminate hiding spots for burglars.

- Keep the outside of your home well lit. Burglars won't go where they can be seen.

- Ask a neighbor to park in your driveway, occasionally moving his or her car indicate your coming and going.

- Leave the air conditioner on. A silent compressor on a hot day is a good indication you aren't home.

- Have the lawn mowed by a friend or lawn service if you are away longer than a week in the warmer months.

- This one is tough for those addicted to Facebook but posting to Facebook where you are at all times you are not only sharing this with your 'friends'. Those posts and photos allow others to find out when you are away and where you are. This isn't as concerning when you are local as you could post a comment or photo as you are ON your way home or just arrived but when your are, say, at Disney World, those with ill plans regarding your trip away from home.

- Be sure to turn down the temperature on the hot water heater and unplug televisions and other appliances. These appliances will be drawing electricity whether they are on or not. Unplugging them will help lower your electric bill.

- Turn your thermostats down (or up) before you leave. There is no reason to spend money heating or cooling the home when you are not there.

- Don't forget about the plants. If you are having a friend or pet sitter care for your pets, ask them to take care of your plants as well. Simply soaking the plants with water before you leave is not enough. A better idea is to create a self watering system if you cannot have someone care for the plants. For small plants, make a self watering system by filling a plastic container with pebbles. Then fill the bottom of the container with water. This allows the plants to slowly absorb the moisture they need, without the danger of their roots becoming waterlogged. Larger plants can be mulched with a damp towel or newspaper to prevent the loss of moisture.

- When the day to leave for vacation finally arrives, try not to make that departure too obvious to those passing by. If you have a garage, be sure to pack the car with the garage door closed. If you do not have a garage, you may want to pack a couple of items a day in order to avoid broadcasting to the world that your home will be unoccupied.

- This last tip isn't a security measure for your house but for your credit (you know I always care about that as well) as you need to keep a tight check over your credit in order to purchase or refinance your home!

With all the excitement of the upcoming trip we sometimes get carried away, plan only for the trip and security of our home for while we are away and leave for our stress-free trip. But wait!! You suddenly realize the day before you return the date! You've missed your mortgage payment, car payment, credit card, and utility due dates by a week or more! This happens more than I'd like to hear and the credit company doesn't accept this as a viable hardship excuse. :-) So ensure you plan ahead. Go on and sit down to make all the payments needed to be made in advance before your trip and all those due up till a few days after your return for good measure to ensure you don't get tied up with the return home and forget this very important task to protect your credit rating!

As you can see, there is a lot to think about before you jump in the car or on a plane for vacation. Use this checklist as a way of bringing peace of mind to you and your family. Enjoy your vacations without worrying about the safety of your home while you're away.

Should You Sell During the Holidays?

Traditional school of thought dictates that selling a home during the holidays is a bad idea. People are busy celebrating with their families and will hardly go shopping for a home, right? Not so!  There are numerous advantages to listing a home during this season and below are ten great reasons to put a home on the market now.

More serious buyers – Less time wasted

These are people who are interested in buying so there is a far greater chance of actually selling the property.  Nothing is more promising to a seller than a motivated and qualified buyer that knows what they want and is actively seeking to get it.

Fewer Homes On the Market

The less competition there is, the higher the chance there is for homes on the market to sell. Where during the peak season sellers might be dealing with some interest from buyers on their home, nonetheless there is more selection for buyers to choose from and they can stray to another property.

In January Inventory Increases – Chances of Selling Decreases

With so many homeowners assuming the holidays is a taboo time to sell there is a plethora of new listings in January, resulting in a diminished chance of your home selling.  Also, there is a risk that the price you may receive on the home can be less.

Decked Halls Look Great!

Homes are very appealing to prospective buyers when they are decorated for the holidays.  With all the festive décor, lights, greenery and added beauty of the season – the home shows very well and attracts buyers faster than if shown during other times of the year.

More Time To Browse Homes

Buyers have extra time off from work and are on vacation, which translates to a more aggressive buying pattern and more chances of your home being viewed.

More Emotional Buyers

Because of the high stress of the holidays, buyers tend to be more emotional during this time than in the summer months. A more emotional buyer will tend to pay more for a new property, so selling your home during the holidays could make you more money.

Show The Home With Flexibility

Sellers that have their home listed prior to the holidays have the added advantage to be able to “pause” the process so they can celebrate the holidays, essentially not showing the home during a period of time during the break.  When the festivities die down, things can pick up again and the seller has not only managed to save potentially lost time but can also jump right back into the market.

Transferred Employees

January is typically the month where employees are transferred into new position. In order to capture this demographic of buyers, your home must be on the market since these buyers cannot wait until the spring to buy.

Sell Now For More Money Then Delay Closing

Extended occupancy can be negotiated, leaving both parties the leniency to get through the holiday season and past the New Year so that all sides can rest assured the deal is done but it can follow through at a more convenient time.  For sellers this option is great because they are able to secure a higher selling price on the property before the market is inundated with new listings come January when the selling values drop.

Fewer Foreclosures On the Market

Many banks will suspend foreclosure listing during this time of year, especially on properties where there are still families occupying the home.  As a result of this, some of the competition that arises for sellers from low-priced foreclosures can be avoided during the holidays.

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Keep in mind that the idea of your home’s value increasing significantly over the next several months is a myth. The truth is that housing values likely only go up when consumer income rises. Pay rates increase at a rate of three to five percent each year and that is
about the maximum yearly increase we can expect to see in a home as well. So if you are wondering whether or not to put your home on the selling market now, or to wait – one important factor is that waiting will not provide much benefit.

Advice on Foreclosures

What do I need to know about shadow inventory when it comes to foreclosures?

In this case, shadow inventory refers to real estate properties that are in foreclosure and have not been released onto the market. What we are seeing are homes being released in batches. I don’t expect there to be a huge rush of homes at once.

In some cases there are homes that have been in default for 3-4 years. Some people are even paying rent to live in their property through housing programs.

Is there any advice you’d give to someone who is thinking of foreclosing?

Foreclosure should be your last option. If you or someone you know is thinking about foreclosing, call us immediately. There are several different options you can choose from and we can help guide you in the right direction.

Is there any advice you’d give someone who wants to purchase a foreclosed property?

It’s important the buyer does his/her due diligence; get the home inspected. Properties range in price and condition.

Hire a seasoned agent to help you in the process.

If you have any questions, please give me a call at 661.979.7388. Thanks for watching!

How Interest Rates Affect Our Market

Welcome to my video blog. I’ve had a few question about interest rates and thought you might have the same questions.

How is the recent rise in interest rates affecting the real estate market in you area?

I haven’t seen any dramatic changes. We still have a lot of demand for homes out there. Buyers also know that, despite the increase, rates are still phenomenal and historically low. I haven’t seen any buyers get out of the market because of the rise.

What would tell someone who is on the fence or waiting for interest rates to go back down?

It’s still a fantastic time to buy. We aren’t sure exactly what interest rates will do, but they shouldn’t be the only determining factor when deciding to buy a home. Home prices are also historically low and we expect those to increase.

If interest rates do go down, you can always consider refinancing.

If you have any questions about buying or selling or refinancing, please give me a call at 661.617.4434 I would love to help you with your real estate needs!

Thanks for watching!

5 Ways You Can Boost Your Credit Score So You Can Buy the Home of Your Dreams!

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Has your credit score gotten out of control? Are you in the market to buy a home but your credit score is too low? The truth is that many Americans find their credit to be inadequate once they end up in a meeting with a loan officer to discuss buying a home. Whether first-time buyers or long-time veterans of the home buying process, your credit score must meet some minimum guidelines in order to qualify for a mortgage.

It does take some time, but with some effort, diligence and responsibility – you can get your credit back on track and be well on your way to owning a home. Here are five easy-to-follow tips that can boost your credit score fairly quickly.

Pay Your Bills On Time

This one may seem obvious but many borrowers have no idea just how much paying on time positively impacts a credit score. Likewise, the damage done when you don’t pay bills on time is hard to repair. The best way to ensure things get paid on time is to set up automatic payments or utilize the myriad apps out there designed to make you remember. Use your Google calendar, sync it with your smartphone, print out a bills chart – whatever it takes, don’t forget to pay your bills on time!

Keep Balances Low

A common misconception about credit health is that there are no penalties if a borrower charges credit cards close to the maximum credit limit. On the contrary, lenders and credit experts suggest keeping your balances as low as possible. This demonstrates your use of the card responsibly. Remember, unless you have the funds to pay those balances back it’s best not to charge large balances in the first place. Work toward paying off balances in the order from highest to lowest balances for the maximum benefit to your credit score.

Be Careful When Opening New Accounts

Opening and closing accounts creates a negative impression to the credit powers that be. The red flags caused on your credit profile can harm your ability to borrow now or in the future. It is much better to obtain and keep just a couple revolving credit accounts open and then use them to the maximum efficiency. If you’re concerned that there are inaccuracies on your account, check with all three credit-reporting agencies (Equifax, Transunion and Experian) to request a free copy of your report so you can clarify any errors.

Limit New Credit Inquiries to a Small Window of Time

A number of inquiries within a small window of time are treated as a single inquiry. When shopping for a mortgage or even an auto loan, a good practice is to entertain as many quotes as you like within a short window of time. Credit agencies know and recognize that consumers need to shop around for the best rates but when you have inquiries that are all over the map and spanning months, not weeks, it can hurt your credit score with each inquiry.

Always Handle Your Credit Responsibly

It goes without saying that your credit outlook is probably the most important thing for your financial health and well being. It is critical to handle all financial transactions responsibly so that when you are ready to buy a home or a car or anything else that requires a strong credit outlook, you are armed with a great record! The old adage “one step up, two steps backward” holds true when it comes to making a mistake on your credit report and trying to get it repaired.

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Establishing a good credit history is a good habit if you want to get a great rate on a mortgage or other loans. If your credit is a concern, we can connect you with one of several lender partners we work closely with. And they will gladly work with you to rectify specific concerns. Regardless of where you are in the process, we welcome your calls and visits if you are interested in buying or selling a home.

Now is the Time to Sell

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Would you like to get multiple offers when you put your home on the market?  That’s what we’re seeing. Buyers are outbidding each other, and some are spending more than what the home is listed for! No surprise because there are fewer homes on the market than a year ago.

Beyond multiple bids, home prices are rising, which is a sign of a surging market. When the supply goes down, it helps push prices up, so prices are solid across the board and we’re hearing a word we haven’t heard for a while—equity.

What does this market mean for sellers? If you’ve thought of selling your home, the time is now. Since there are fewer homes on the market, there’s more competition for available homes. Low inventory often translates into multiple bids, high list-to-sale price ratios and being able to negotiate better terms. It’s a great time for sellers.

So what does this mean for buyers? Buyers are entering a competitive market with multiple offers. The key? Be aggressive. When a home that you’re interested in hits the market, plan to see it as soon as possible and make the best possible offer that’s at an appropriate price point for the seller. Remember, inventory is low. If you hesitate, the property could be gone because others will be making offers. New construction, of course, is another great option, and today it’s taking about six to 12 months to build a home.

Keep in mind that mortgage loan rates are extremely low, which makes buying a home more affordable than ever, but the rates won’t last forever. Interest rates are still below 4% with some as low as 3% for a 15- or 20-year fixed-rate mortgage. If you wait and interest rates rise, you could get locked into spending a few hundred extra dollars a month on your payment.

Give us a call so we can tell you where to be positioned and how to be successful in this market. Please contact us at (661) 979-7388 or email us at dbanducci@bakersfieldmagic.com.