Continuing with our commitment of including photographs of our beautiful area for those thinking about moving here, we submit this shot of the Sierra Range from Shingle Springs on Highwat 50.
9 DEADLY MISTAKES HOME SELLERS MAKE – #8
Selling the most expensive asset that most families own is serious business, not something to be taken lightly. It can be a highly stressful process and costly mistakes are easy to make. In order to net the most from the sale it takes careful planning and some work on the seller’s part.
Based on our years of first-hand experience, we have compiled a list of the 9 Deadly Mistakes Home Sellers Make to help home sellers avoid them. As the old proverb says, “forewarned is forearmed.”
A copy of the list is available at no charge to anyone who requests one by e-mail. Send your request to: Mike@SellYourVilla.com
DEADLY MISTAKE #8 – Not planning your move early enough
Most sellers simply don’t plan their move early enough and then feel totally overwhelmed at the time they have to move out of their home. As with most things in life, planning ahead enables you to complete the task with less stress and, often at a lower cost.
One of obstacles to selling most homes is that they are frequently jam packed with treasures, gathered over the years. Although those treasures are of considerable importance to you, the seller; a potential buyer usually sees them as needless clutter. They take up room, making the home seem smaller, and detract from the overall appeal of the home. Packing away your treasures when you list your home for sale serves two purposes. First, it helps you maximize the appeal of your home and makes is look larger. Second, it helps as the first step of the moving process. Items packed when you list the home will not have to be packed at the last minute before you move.
If you have the luxury of selecting the time of year that you will move try to avoid the summer months. That is peak-season. Costs will be higher and availability of service providers limited. Also consider that the first and last few days of the month are also extra busy.
Keep a record of all expenses related to the move, some or all may be tax deductable. Compile l list of all items that you will move, room by room. This will help you establish an amount that you will have to declare as the value of your belongings. Try to include the year purchased and purchase price of expensive items. This will help with insurance if needed. The use of a video camera may be helpful here. A slow pan of all items, room-by-room may prevent you from forgetting important items and help with insurance claims if the items end up missing of damaged. Make a separate inventory of high value items such a jewelry, antiques, art, cameras, crystal, china, firearms, electronics…etc.
Note that unless you have been given a binding moving estimate where a firm cost is established in advance, the exact cost of a move can not be determined until after everything has been loaded into the truck and the truck is weighed. The charges are usually based on the loaded weight of the truck less the empty weight of the truck. The total cost of the move will include transportation charges, declared valuation charges plus any extra charges for special services performed. All of these charges are basked of tariff rate schedules.
It makes no difference if you are in El Dorado Hills, Folsom, Cameron Park or any other city or town in California, or in any other state. The same rules apply. If you are considering selling, contact your Realtor today!
If you have any questions or want to put your home on the market call today: (916) 337-0658. You will get a no-cost market evaluation and suggestions on how best to maximize your selling net!
El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR October 2010
This is a continuation of our three year long monthly report on Bank Owned (REO) home sales data for El Dorado Hills, CA. This report covers Bank Owned homes sold in October 2010.
There were 13 Bank Owned homes sold in October, up from 5 in September. That September number was the smallest number of REO homes sold in one month since we have been reporting this data.
REO inventory in El Dorado Hills spiked to a 6.4 month supply in September and dropped back into the normal range wit a 2.2 month supply in October.
The inventory for all available homes dropped from a 5.5 month supply last month to a 4.7 month supply in October. A six month supply is considered a neutral market.
The average days-on-market decreased from 45 days last month to 38 days in October. None of the REO homes that sold this month had been on the market for over 100 days and four of the REO homes sold were on the market two weeks or less.
The cost per square foot of REO homes in October was $ 134, down from $ 142 the previous month. The cost per square foot of all El Dorado Hills Homes sold in October dropped four dollars, to $ 159.
The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO homes represented a 15% savings for REO buyers in October, a little better than in September.
The overall sales price for REO homes was 98.8% of the final asking price, and 92.7% of the original asking price. And 47% of the buyers paid more than the asking price for REO homes in October.
The actual, measurable savings is the difference in cost per square foot between REO homes sold and the cost per square foot of all home sold: in July, $ 25 per square foot. That is a $ 60,000 savings on a 2500 square foot home, A much larger difference than normal.
If you have any questions about the data provided on Bank Owned Homes sold in El Dorado Hills, feel free to give us a call at (916) 337-0658. If you need assistance in finding the best bank owned deal we are the El Dorado Hills Realtor you should contact.
The data follows:
Folsom, CA REO (BANK OWNED) SALES DATA FOR October 2010
This is a continuation of a three year study of Bank Owned home sale in Folsom, CA. This report covers REO homes sold in October 2010.
There were 19 REO homes sold in October, up from 11 in September. Lenders continue to release these homes for sale at a very slow pace in order to avoid causing major problems in the housing market. A glut of low priced homes would be catastrophic to an already shaky market.
The average days-on-market statistic for the month was 78, up from 73 the previous month. The trend for the length of time REO homes are on the market is increasing. Six of the homes sold had been on the market over 100 days. Only two of the REO homes sold had been on the market for two weeks or less, a much smaller number than has been reported over the past years.
The 19 homes sold represent 24% of all homes sold in Folsom, on the lower end of the normal range.
The overall home inventory in Folsom increased to a 6 month supply, the highest level of inventory in well over fourteen months. The overall is trending up over the past year. We had a 2.9 month supply last October. The inventory for REO homes peaked for the last year in July with a 4.7 month supply and has dropped steadily since. The present inventory in October was a 1/7 month supply. A six month supply is considered a neutral market.
The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO sales represented a 5% savings for REO buyers. That is the same as reported the previous month.
The overall sales price for REO homes was 95% of the final asking price. And only 11% of the buyers paid more than the asking price for their bank owned home in September. There was a $ 9 dollar per square foot savings in the purchase of REO homes, compared to the cost of all homes sold. When we apply that price difference to a 2500 square foot home it represents a $ 22,500 savings, something worth considering when selecting a home: not a small sum.
If you have any questions about purchasing a Folsom REO or an REO anywhere in the area, or are just looking for the best buys available feel free to call us at (916) 337-0658.
The data follows:
New HUD Home Buyer’s Video Clip: Shopping For Your Loan
The Department of Housing and Unban Development has just come out with a three video series designed to help home buyers better understand the home buying and financing process. The videos are straight forward and easy to understand. They range from 10 to a little over 12 minutes long and are a MUST VIEW for any first-time home buyer. More experienced home buyers may also find them helpful.
Here is a link to the first of the three, Shopping For Your Loan: http://www.youtube.com/user/HUDchannel#p/a/u/1/RdwxqiVwsOA
This link takes you to the video which covers the loan. It explains the Good Faith Estimate and the HUD-1 and how to interpret them. This video may be a bit dry for some viewers and a little complex for those not familiar with the loan process.
Anyone who is seriously considering the purchase of a home should take the time to view these videos. It might be prudent for home sellers to view the videos as well.
If, after viewing the video, you have any questions or need assistance in finding the best deal on a home, feel free to give us a call at (916) 337-0658, or e-mail Mike@BuyYourVilla.com.
Serving El Dorado Hills, Folsom, Cameron Park, Placerville, El dorado, Sacramento and Place counties.