Tag Archives: real estate

The Top 3 Current Real Estate Trends

If you are thinking about buying or selling your home, paying attention to current market trends can help you sell your home for the best price, or find the perfect home for your budget. Here are a few market trends we see this year that could help you decide to buy or sell.

Low Inventory

This is a pro for home sellers but may be a struggle for home buyers. Low inventory means that there are fewer homes currently on the market. For home sellers, this could mean getting top dollar for your home since there is little competition. For home buyers, this could mean sellers may be less willing to accept offers below asking price, and several buyers may be interested in the same property, driving prices up.

New Home Sales

According to census.gov, new residential home sales are on the rise. This may mean your home may compete with new builds for home sellers if you are located near a new development. You may have to re-evaluate your listing price to stay competitive with the market. This could mean that building a new home may be your best option for home buyers due to the low inventory of existing homes. When building a new home, make sure you look at several different home builders to see what is standard for a new build. Not all homes offer the same standard options. Some builders may quote you a low base price but charge extra for upgrades such as hardwood flooring, granite countertops, and even landscaping. Some home builders may have a higher base price, but these “upgrades” are already included in their base package.

Remote Work

Working from home may affect a buyer’s decision to work further from home and might decrease the desire for homes located in major metropolitan areas and increase home sales in smaller suburban areas. For home sellers, this could mean reduced interest in your listing if you are trying to sell in a major metropolitan area but could mean increased interest if you live in a surrounding suburb. For sellers, if moving closer to a city center isn’t an issue, you may find that the pricing in these markets is better, and sellers are more willing to negotiate. On the flip side, if you are looking to move to a city suburb, you might find competition higher in these areas.

If you are a buyer or seller, make sure you do your market research before making a big decision to ensure you are making the right decision. Now may be the time for you to make a move, or you may want to wait for a rise in inventory. Either way, it is best to check the market temperature before you decide. Give me a call today, I will be happy to answer any questions you may have, help you to find your dream home and/or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
nancy@mammothcountry.com
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Image by Gerd Altmann from Pixabay

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50 Hillside Drive #302, Mammoth Lakes, CA 93546 – SOLD SEPTEMBER 2020!

FULLY FURNISHED WESTIN CONDO!

Fabulous two-bedroom corner unit with views of the Village. The inviting living room features a gas fireplace, flat screen TV and is open to the kitchen and dining area. The full-sized kitchen is equipped with granite counters, full-sized fridge, electric range and microwave. There are two nicely sized bedrooms and full baths with modern finishes.

Enjoy the Westin with all it’s great amenities at the Village at Mammoth. Full service valet with secure parking garage for your entire stay. Enjoy the convenience of the in-house White Bark restaurant/bar as well as the many shops, restaurants, deli, nightclub & Village gondola just steps away. Additional Westin amenities include ski storage, free airport shuttle, fitness facility, heated outdoor pool and spas.

Click Here to view the virtual tour. For more information visit 50 Hillside Drive #302.

Contact Nancy Davidson for All Your Real Estate Needs! For more information or to schedule a showing visit www.MammothCountry.com or email Nancy@MammothCountry.com. Let me make your home selling and or buying experience one of a kind!

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
nancy@mammothcountry.com
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

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Remodeling vs Moving…Which is Right for You?

After a few years or decades in your home, you may discover it no longer meets your needs. When that is the case, you have two options. You can move and find a new home that meets your needs or remodel your existing home, so it fits your needs. Both options have pros and cons so there is a lot to consider when you are making your decision. Here are four questions to ask yourself before you decide.

  1. Is your location good or bad? If the location doesn’t work for you, that can’t be changed. In this case, moving is the option that will fix this problem.
  2. What about the size of your home? Do you want significantly more or less space? If you want less space, it’s time to move. If you want more space, you could add on to your home if your lot has enough space for that, your restrictions allow it and you have the money to do so. If adding on isn’t an option, moving is again the best choice.
  3. Beyond the location and if you like the place you are, do you like the area and feel comfortable in it? Did you buy your home 20 years ago and then a road was expanded, and you are closer to the highway than you would like? This is another thing that can’t be changed without moving. On the flipside, you may adore your location. It is very easy to grow attached to neighbors and your daily routine from where you live. If you love WHERE you live but don’t love the house anymore, a remodel might can help your house better meet your needs so you will love it as much as your neighbors.
  4. Are you looking for a home that will allow you to age-in-place? You may have lived in your home for 20-30 years but still love it. However, if all the bedrooms are upstairs, it may not be the place for you to grow old. Maybe you have a rarely used dining room or study that would make a great master suite. A remodel job may give you another 15-20 years in the home you love.

It’s important to think about this decision from multiple directions. Think about the financial aspect. Will a remodel cost so much that you will never recover anywhere near what you put into it? Remodeling can also be stressful. Are you up for the stress? Do you have the savings or are you willing to take out a loan for the changes you want to make? Can you remodel everything you want to at once or will you need to do it in stages so you can still live there? There are so many things to consider. Anytime you are thinking about real estate decisions, feel free to call me to answer any questions you have. I will be happy to answer any questions you may have, help you to find your dream home and/or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
nancy@mammothcountry.com
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Photo by Milivoj Kuhar on Unsplash

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Three Mistakes to Avoid When Selling a Home

When you are ready to sell your home, there will be many things that are important for you to take care of. How do you know what’s a big deal and what isn’t so big? With emotions involved, it’s easy to lose sight of the primary goal and what matters most. Let’s start with three items that you want to be sure you make the best decision on so you don’t start the home selling process with a disadvantage.

Agent Choice
Probably, the first choice you will make is selecting the agent to work with when selling your home. Your real estate agent will help you navigate the muddy waters of paperwork, price your home accordingly for today’s market, communicate with buyers and other agents about your home and market your property online and through other methods. Choosing the right agent can make the difference between selling and not selling your home.

Price
Your price will determine if and when you sell. If you underprice your home, you will sell quickly but give up value. If you overprice your home, your home will sit on the market while you grow increasingly frustrated. The key is pricing your home just right so you attract the most interest possible that turns into showing activity and offers. This is a hard balance to achieve but an experienced agent will research your home and the current market to recommend the best price for your home.

Condition
There is nothing worse than showing up to look at a home to discover that the interior is dirty and in poor condition. Sometimes photos may not show the true picture and while you may have a few showings, if your home is in poor condition, you are unlikely to get an offer unless you have advertised the condition of the property accurately. Most people want a well-cared for home to purchase. It may need some updates but if it is filthy with chipped paint, worn carpet and other flaws, buyers will be turned off right away. From curb appeal and throughout the home, the home needs to look its best.

A little planning and consideration on your part can make selling your home go smoothly. Get the help you need when it comes time to sell by contacting me for a consultation. I will be happy to answer any questions you may have and help you determine the value of your home.

If you have any additional questions or concerns about selling your home, I will be happy to answer any questions you may have, help you to find your dream home and/or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
nancy@mammothcountry.com
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Image by HobokenHome7 from Pixabay 

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What to Expect if You are Selling Your Home Virtually

In this day and time, as we limit our in-person contact, selling your home presents some unique challenges. Your agent will need access to your home and buyers that are searching for a new home will need to view your home to determine if they like it or not. Technology has made this easier than ever so there are some unique ways to make all of this easier. Here is what you can expect if you are selling your home during this virtual time.

Start with the agent accessing your home. For first meetings, consider handling them over the phone. When it comes time for the agent to view the home, you could use Facetime or Skype to show them your home or have them come in person while wearing a mask and gloves to do their walk through. During the walk through, you can stay on opposite sides of the rooms you are in and then continue your conversation outside after they have seen the inside of your home. To prepare your home to be shown on the Internet, a photographer will need access to your home, but they can use the same precautions as your agent to limit contact by social distancing and wearing protective equipment.

One way for buyers to get a good sense of your home is by accessing a virtual tour. These tours come in many different formats and allow the buyer to see many photos of your home and in some cases walk buyers through your home as they view the photos, so they understand the layout. While these options may not give them the confidence to make an offer, they will allow many buyers to eliminate the house or determine that is likely to be a good fit. Having these virtual options available to buyers will decrease the number of buyers that need to see your home in person.

For buyers that are still not quite sure, an agent could visit the home and show it to them via FaceTime or Skype so there are fewer people in your home. Assuming the buyer likes everything they have seen about your home online, they can then schedule an in person visit to your home where they will wear masks and gloves and limit touching of surfaces. You should leave doors to all rooms and closets open and all lights on, so they don’t have to touch those surfaces while in your home.

After you successfully negotiate a contract on your home, which can be signed electronically, expect closing to look a little different. In recent years, home closings have been attended by many people including the buyer and seller, real estate agents from both sides, mortgage lenders and the closing agent. These days are over. Expect the buyer and seller to sign documents separately and only the closing agent to be present. This will allow you to limit your contact to as few people as possible while still accomplishing all of the necessary requirements for selling your home.

If you have any additional questions or concerns about selling your home, I will be happy to answer any questions you may have, help you to find your dream home and/or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
nancy@mammothcountry.com
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Image by Gerd Altmann from Pixabay 

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Cash Always Wins When Selling Your House

Have you been thinking about selling your home for a while now and finally are ready to take the leap? When buyers are looking for a home, there are many options they can choose from to finance the home. In the majority of instances, buyers will be taking out a mortgage on the property to cover the cost of it. Mortgages come in all sizes and styles so well-qualified buyers will have many options to choose from. If the buyer of your home is in a position to pay for your home with cash, there can be some additional advantages to selecting a cash buyer for your home over one who will need to secure a mortgage. Here are three reasons to keep your fingers crossed that your next homebuyer will have cash in the bank to cover their purchase.

  1. One of the most challenging parts of buying a home can be the inspections, especially if the home is less than perfect. Is your home a fixer upper or does it have any kind of major flaw? Inspections can reveal all kinds of problems and if the buyer is getting a loan on a property, the lender may require that certain repairs be made to ensure the property meets their lending criteria.
  2. Like inspections, an appraisal is required when a buyer is getting a mortgage. The lender will require the home to be worth at least as much as they are paying for it. If your property is in an area with climbing values and you were fortunate enough to have multiple offers on your home, the contract price may have escalated beyond your home’s market value. If the appraisal doesn’t come in as high as the price the buyers agree to pay for your home, they won’t be able to get a loan for the property unless they have cash to make up the difference.
  3. If you are hoping to sell your home super-fast, a cash buyer can make that happen in weeks or sometimes even days. Selling a home doesn’t have to stretch out for months. It is the lenders that generally make that happen while homes are in underwriting. Selling a home to a cash buyer can be a quick and easy process.

Understand that the number of cash buyers in the home buying market is smaller than others but if you have a cash buyer interested in your home, you may want to negotiate differently with them since the process will likely be smoother. If your property has flaws, searching for a cash buyer may be the only way to go and can help you ensure your property closes. If you have any additional questions or concerns about selling your home, I will be happy to answer any questions you may have, help you to find your dream home and/or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
nancy@mammothcountry.com
www.MammothCountry.com
CA Broker’s License #01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Image by NikolayFrolochkin from Pixabay 

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2018 Real Estate Forecast

2018 Real Estate ForecastWhether you plan to be actively engaged in the 2018 real estate market or not, knowing where the market is headed is important for almost everyone. With 2017 just wrapping up, exact numbers on the year aren’t available but overall 2017 showed strong numbers with home prices up around 6% over 2016 at the end of September and interest rates remaining low through year end.

As 2018 kicks off, expect to see positive growth continue in the real estate market in most areas. Home prices are still expected to rise in 2018 but at a slower rate than the last couple years. Mortgage rates are expected to rise as the year progresses and could possibly reach 5% by year’s end. If you do want to buy a home in 2018, the sooner the better to take advantage of the low rates that are still available.

Many people have wanted to buy homes in recent years but the inventory, especially in homes that traditionally appeal to first time homebuyers, hasn’t been available. This year should change that as we get to the end of the year. It may take until fall to see growth in inventory levels but by year end things should tip in that direction offering more homes in all price ranges as inventory shakes down across the board.

Millennials were a huge portion of the 2017 homebuyers, almost 40% and will continue to play a significant role in 2018. They have established themselves career wise now and with the economy strong, many are well positioned to take on larger mortgages and not have to wait for the homes that typically appeal to first time homebuyers.

New home construction will play a significant part in the inventory shift in 2018. Based on recent building permit applications, new home starts in the single-family sector of homes will likely see growth top 8% providing lots of new homes to the market in 2018. As new homes are available in all prices, inventory will open up across the board as homeowners move up or down to meet their needs and leave existing homes that will become available in larger numbers.

Most news tends to look positive, but home affordability will take a hit if both home prices and mortgages rates rise as anticipated. While this isn’t welcome news, the anticipation of higher available inventory will give people options that weren’t available in 2017 and hopefully minimize the effects of this.

Because of rising prices in recent years and continued growth expected, new home equity lines of credit are expected to soar as more than 60% of current homeowners are expected to have enough equity in their homes to qualify.

No matter what your situation in 2018, overall news is positive. Even if you don’t buy or sell this year, having homes around you appreciate at a steady rate will keep the market strong for when you are ready for your next transition. For additional information regarding the real estate market, I will be happy to answer any questions you may have, help you to find your dream home or determine the value of your existing property

 

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
800 421-7005 office
866 278-7765 efax
nancy@mammothcountry.com
www.MammothCountry.com
CA Brokers License #01264041

Image courtesy of deedster/pixabay.com


 

Building Your Investment Portfolio with Real Estate

Building Your Investment PortfolioWhen many people talk about investments, they are only thinking about stocks, retirement accounts and traditional savings portfolios. However, investing in real estate can be a solid approach to increasing your wealth through the years.

Consider this benefit that most property owners never think about. Owning a home with a mortgage acts like a “forced” savings account that you contribute to each month. While you can contribute to any savings account each month, most have no penalties if you don’t. With a mortgage, if you don’t pay, you don’t stay so you are forced to pay if you want to continue to use the property.

Each time you make your monthly mortgage payment, you increase the equity in your property by some amount. Over time that amount grows and in many cases, the value of your property grows as well, expediting the rate at which your equity increases.

Now that you understand the principle of forced savings, think if you were to apply that same principle multiple times as opposed to just for your primary residence. Maybe each time you move instead of selling your home, you hold onto it and rent it out and continue to build that equity. If you move 3-5 times over your adult life, you could be building equity on multiple properties that you will be able to withdraw (by selling the property) when the time is right for you.

While borrowing money for a mortgage isn’t free, there can be tax benefits to having a mortgage that can make it beneficial to your overall financial situation. Fast forward to the time you are ready to sell your home and think of selling your home as making a withdrawal from a savings account. All of the equity you have paid into the property along with any appreciation will be available to you again for you to reinvest or use for any reason you choose to.

This isn’t a perfect system. If you were forced to sell at a certain time, you could take a loss but it is less likely the longer you own the home. No one has forgotten the housing downtown of recent years but most homeowners have now recovered from that and if you didn’t try to sell during that period, you didn’t suffer any kind of loss. Many people that were in a financial position to do so also benefitted by buying homes at reduced prices to add to their investment portfolio for the long term.

This approach is not a short term plan to build wealth but a growth solution that will steadily grow your investment portfolio value with time. Diligent planning on your part will pay off down the road. One additional reason to consider this is if you are looking for an investment plan that puts more control in your hands. You are the one to decide when to invest, when to divest and there are no penalties when you make changes.

If you are ready to build real estate investing into your portfolio, let’s schedule a time to talk about how to make this work as a long term investment strategy. I will be happy to answer any questions you may have, help you to find your dream home or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
800 421-7005 office
866 278-7765 efax
nancy@mammothcountry.com
www.MammothCountry.com
CA Brokers’s Lic# 01264041

Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.

Image courtesy of nattanan23/pixabay.com


 

Mistakes People Make When Selling a Home

Homeowners are not experts when it comes to selling their own homSoldes. They have to rely on the expertise of a real estate agent who knows what works and what doesn’t. However, it is also important for the owners to avoid making some of these mistakes commonly made by sellers.

Setting the Listing Price Too High

Even though your agent can advise you on the price to list your home, ultimately you make the final decision. Just be careful to avoid the most common and the biggest mistake homeowners make when trying to sell their property. Listen to your real estate agent because they know what properties are selling for.

Not Cleaning Up the Clutter

One of the big reasons a home sits on the market longer is because of clutter. A home that is filled with stuff looks smaller and out of date. Buyers worry that problems may be hidden, and they often fail to see the positive aspects of the home behind the clutter.

Not Making Important Updates

Buyers often wonder if a home that has old carpet or fading paint may have other, more serious issues. Sellers who fail to update their homes will find the home sits on the market for longer. Many buyers don’t want to put in a lot of work once they buy a property. They wait until they find a home where the sellers have done the work for them.

Not Being Flexible Enough with Showings

Yes, showing your home is an interruption of your private time. However, that is just how it has to be many times for sellers. If they aren’t available when a buyer wants to see the house, they will just look at the next one on their list. They will still find a house they like, but you may lose out on a sale. You have to be flexible within reason about allowing buyers to take a tour.

Not Using a Real Estate Agent

Statistics show that homeowners who try to sell their homes on their own take longer to get a sale than those who go through an agent. You may think you’re saving money when you don’t have to pay a broker’s fee, but this is not really the case. For every day your home is for sale, you lose money. You also have to use your time selling your home, which could be better spent doing other things.

Avoid these mistakes when you are ready to sell, and you’ll find a SOLD sign on your property quicker than you might expect. If you are considering putting your home on the market, I will be happy to answer any questions you may have about the selling process, help you to find your dream home or determine the value of your existing property.

 

Nancy Davidson
Mammoth Village Properties
760 937-2301 mobile
800 421-7005 office
866 278-7765 efax
nancy@mammothcountry.com
www.MammothCountry.com
CA Brokers Lic# 01264041

Image courtesy koalaparklaundromat/pixabay.com