Author Archive
A Winter Coat in Summer?
Posted by Mary Reynolds | Leave A Comment »
It’s my favorite time of year…The Nordstrom Half Yearly Sale! Summer fashions out, fall fashions in. Even though we are in the midst of summer, Nordstrom sets all of the next season’s trends on sale. 
It took a while for me to understand that I should buy warm weather clothes in the middle of beach season. But I realized that I could save money if I took advantage of the break in price, saving 25% or more on the kids’ school clothes, work clothes and shoes. Waiting until the weather turns cooler to update my winter wardrobe seemed to make sense, but then everything costs more in the fall.
Waiting to buy a home doesn’t make sense either. Even if prices of homes drop in the next few months, the rising interest rates will cost you more in the long run. Buyers who are waiting for the “bottom of the real estate market” could be losing out on a perfect time to buy. Prices are low, interest rates are still in an affordable range and sellers are motivated to move on.
As a Real Estate consultant, my advice is to rethink when you should buy a home. Now may be the time! Buying winter clothing in the summer is going to save me money, buying a home now can probably save you money.
Let me know if I can help you make that decision. I’ll be happy to show you what’s available on the market now.
Related Posts: Mortgage News, Real Estate News
Who’s fault is it anyway?
Posted by Mary Reynolds | Currently 1 Comment »
With the Real Estate Mortgage Crisis, many homes in San Diego have gone into short sales. Short Sale does not mean that the house is being sold for under market value. This has confused many buyers who think they are getting a “deal” looking for short sales and foreclosures.
I am in the process of finishing an escrow on a short sale. It has been an emotional roller coaster for all involved; the sellers, the buyers and the agents. We have been working on the sale for 3 months. The sellers are not only losing their home, they are having to negotiate with their mortgage company to accept less than they owe on the home. The buyers have agreed to buy the home “as is” which as we found out includes a bad roof, a bad heater and much termite work. The agents have worked many hours keeping the transaction alive and now wonder if the bank will allow them any commission at all. In a short sale, no one wins!
Who’s fault is this m
ortgage crisis? I think we are all to blame. In the height of the home buying frenzy, everyone in the transaction became greedy. The mortgage companies looking at adjustable rate mortgages, luring young buyers in with low interest rates but high early payment penalties. Agents wanting to make the sale. Sellers thinking that they should get 22% increases on their homes and buyers who wanted to get a “deal”. What we all forgot is that we were talking about peoples’ lives. Instead of the process being about finding a perfect home, it became a financial transaction. Now, families are finding that they are losing their homes because the financial transaction fell apart.
What is the answer? Well, if I knew that life would be great. Hopefully, the lesson we learned is that in the real estate process it is much more than financial, even for investors, and that peoples’ lives are at stake.
In my Real Estate business I try to make the transaction as easy for possible for my clients. It can be hard it some situations, but I pride myself on keeping the buyers’ or sellers’ interests at heart. Let me know if I can help you. 858 361-9726
Related Posts: Area Information, Buyers, Escrow, Mortgage News, Real Estate News, San Diego, Sellers, Short Sales
My House Is Worth What? A Balancing Act To Price A Home In Divorce
Posted by Mary Reynolds | Leave A Comment »
In the ever changing San Diego real estate market it can be a challenge to accurately price a home for sale. Traditionally, Realtors have always used the “comps” as a guide, looking at the price of homes sold in the last year. But these days what sold last year at this time is possibly $10,000 to $20,000 or more less than it was last year.
It has become a true skill to price a home where it will sell quickly and before prices drop around it. If you are a seller that must sell now, you face a tougher road than in years past. However selling a home in divorce complicates the whole process even further. So often, in a real estate transaction in a divorce, one of the partners doesn’t really want to sell the home, and sometimes they will sabotage the process. 
Convincing that spouse to sell at a price lower than last year’s comps is a tough negotiation. It takes patience and detailed information. Spouses in divorce want to be sure they are getting what is fair. They want assurance that they will be able to live the same type of life they lived before the divorce, and want to get as much as possible from their investments so they can move forward in their lives.
When setting the price for sale of their precious home, it is very important to show not only the comps on a home, but how the sale of the home will benefit each spouse. Providing the sellers a look at their financial outcome from the sale is key. Showing the spouse that really wants to stay in the home that they will be able to move forward after the sale will keep emotions intact.
Sitting the spouses down together to discuss price isn’t always a good idea. Taking the time to sit with each spouse separately to discuss their options after the sale will allow the husband and wife to focus on themselves and their future. After all, putting the house on the market is such a final step in the divorce process and a sign that the split is really going to happen. After each spouse understands how they will benefit from the sale of their home, we can bring them together and discuss the price. Each spouse then has enough information to make a decision.
Working with divorcing couples in a Real Estate transaction takes patience, compassion and understanding. We do the homework ahead of time and plan on spending extra time with each spouse to assure them that we are doing everything in our power to make this transaction equitable, fair and as stress free as possible. Our goal is to ease our clients mind and help with the emotional turmoil that each spouse is feeling.
If you or someone you know is considering a divorce and you would like information and help, don’t hesitate to call or email me.
Related Posts: Divorce & Real Estate, Real Estate News
