Mortgage California Blog

Mortgage News Roundup

June 5th, 2014

Real Estate Mortgage ApprovedWe hope you’re surviving the end of the school year and graduation season. Commute traffic always seems lighter now as you have fewer people on the roads going to school so commute times can shift. And people are taking off time for vacations. Enjoy it while you can.

Mortgage rates seem to be holding steady for the second week in a row. Contact your professional loan officer to find out more information.

And we’re working on a blog post on what it means to lock in a rate. If you have specific questions you want answered, please leave them in the comments.

And now, on to the round up.

6 Quick Ways to Get Your Home Looking Good Enough to Sell

For whatever reason, you are selling your home, and you want to get a quick sale. You also don’t want to spend a lot of money doing major fix ups. So here are six simple things you can do to get your house ready to sell.

  1. Deep clean your carpets. Look into deodorizing them as well especially if you had pets or smoke.
  2. Pressure wash walkways and exterior walls.
  3. Paint with neutral colors. They don’t call it Realtor Beige for nothing.
  4. Toss anything broken or damaged. You may have turned a blind eye to that cracked planter in the front but a savvy buyer will see it immediately. Also, ensure all your light fixtures work and have working bulbs.
  5. Display the manuals, warranties and purchase information next to the appliances.
  6. Repair the small stuff like a leaking faucet or missing tile on the floor.

Millennials vs. Baby Boomers: What Do They Want?

Millennials aren’t the only ones flocking to popular cities such as New York, Boston, Miami and San Francisco. Some boomers are, too. After all, they want the theater, arts, culture and fine dining! The difference is that Millennials, if they’re not still living with mom and dad, are moving into expensive rental units. Boomers are purchasing smaller homes but they’re more expensive than their old house in the suburbs.

When it comes to style, Millenials want large open areas to act as a social hub. Boomers want a private retreat full of luxury.  Both want clean and either new or very updated focusing on amenities over square footage. Reliable high speed Internet is also at the top of the must-have list.

So if you’re trying to sell to this target demographic, ensure you have remodeled and upgraded your kitchens and bathrooms. Also see if you can build in a large walk-in closet.

5 Things Buyers Do That Drive Agents Nuts

The process of buying a home can be long and challenging. It can be stressful for both buyers and their real estate agents especially when there is a lack of homes on the market, affordable and otherwise.

So if you’re a potential buyer, here are five things to avoid doing so you don’t increase the stress of your agent.

  1. Request additional showings, bring an entourage, etc, but never make an offer.
  2. Make unjustifiable lowball offers.
  3. Plan to negotiate the price down during escrow but don’t tell your agent.
  4. Make big demands on the agent’s time but are nowhere near ready to be serious about purchasing yet.
  5. Keep changing your mind about what you want.

And we’ll add in another one: Using one real estate agent to look for houses, and then use a family friend to put in the offer.

Remember to respect that the real estate agent is a professional, and this is their livelihood.

So what will you be doing this weekend?

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