February 1st, 2016 at 10:00 am
The good news: Adjustables are low and it’s a seller’s market
The Federal Reserve Bank’s decision to raise its benchmark interest rate by .25 percent has been the talk of the financial and real estate world since it was announced last Dec. 16.
To gain some insight, we asked David M. Cabot, our President and CEO, for his take on the situation.
Q: Why did the Federal Reserve Bank raise the rate?
A: The Fed was waiting for the economy to be stronger, and they believe it is now. The rate determines what the banks pay to borrow money from the Fed. But the banks can set their own rates for consumers, and they do. This is the first rate increase in seven years.
It’s interesting that they made a decision to do it now because they’ve been wanting to for over a year. I’m not an economist, but 2 percent economic growth is very, very modest. If we were growing at 3 or 4 percent, an interest rate hike would be a welcome thing in the business world. But at 2 percent, we’re not really certain. If we don’t start at a point where we have some growth, we’re never going to get above zero. It’s probably a wise thing from a macroeconomic point of view.
January 5th, 2016 at 11:00 am
When President Barack Obama signed the $1.1 trillion spending measure Congress passed on Dec. 18, he wiped out a 35-year-old tax imposed on foreign investors in the U.S. The measure, which helped avoid a government shutdown, now treats foreign pension funds the same as their U.S. counterparts so far as real estate investments are concerned. While it’s hard to predict specifics, there could be broad consequences on residential as well as commercial property prices around the country. (more…)
December 22nd, 2015 at 11:00 am
Author: Rosamaria Acuna
Do you think putting your home on the market in winter and during the holiday season is a bad idea? You would be surprised. Buyers at year end are serious and motivated, and inventory may be limited as other sellers wait for the New Year. Your home may be a standout, particularly if you get it prepared by taking some simple steps.
Start packing – you are moving. We all have pictures and objects that we think are charming because they are part of our lifestyle. But the potential buyer is not charmed by them and sees nothing but distractions. You want buyers to picture themselves in the living spaces you are selling, and not sidetracked by your personal objects. .
Don’t be hesitant to repaint rooms that look “tired.” A few dollars spent does wonders for the appearance. Wash the windows inside and outside, and power-wash the exterior. Don’t forget curb appeal. Keep the yard free of debris and leaves. The effects of drought can be minimized with evergreen trees, or container plants and cold-weather flowers to make the premises inviting.
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November 2nd, 2015 at 10:00 am
You’ve got enough to think about during the holidays besides selling your home. Or do you?
If you think about it, putting your home on the market November through January has a lot of advantages. In fact, according to REALTOR.com, 60 percent of REALTORS® advise their clients to list homes during the holidays because they feel it’s such a great time to sell.
While any experienced real estate agent will tell you there’s never a bad month to list your home, the holiday season has been shown to be an ideal time for reasons you might not have considered. Here are just a few of them:
Listing your home during the holidays places it in a smaller pool of what real estate professionals call “inventory.” The lower the inventory of available homes, the higher the likelihood they will attract potential buyers. That’s typically the case in hot markets like Southern California. Of course, factors such as neighborhood, the home’s condition, and mortgage rates play into the equation. Your agent can give you a good estimate of how long it could take to sell, realistic asking price, etc.
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October 21st, 2015 at 10:00 am
Not all real estate agents are created equal. Many sales associates carry designations and certifications from accredited programs, such as those offered by The National Association of REALTORS®, while others have worked in a specific niche market throughout their career.
The benefits of working with a specialist abound when you are trying to target a specific market or buy a certain type of home. For example, if you’re a first-time homebuyer, working with an agent who specializes in first-time homes can help you find qualifying programs. The same goes for buyers and sellers looking across the pond. Janice Lee, a REALTOR® – Sales Associate in our Pasadena office has seen continued success working with international clients. “Being bicultural, not just bilingual is such a gift. It allows me to best negotiate on my clients’ behalf (both sellers and buyers)!” Whether you’re looking to make an international purchase, or sell your home to an overseas buyer, working with a specialist can help you reach your goals with ease.
If you’re an international buyer looking to purchase in the U.S. or an American looking to buy in another country, you’re on your way to a smart investment. “The best asset to own on Earth is earth,” said agent Calvin Lo. Working with an experienced international sales associate gives you an advantage over other buyers.
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