FAQs
If you have questions, we have answers.
By now you’ve probably read or heard about the significant changes happening in real estate and how those changes will affect home buyers and sellers.
One of the new requirements is that buyers must sign a written Buyer Representation Agreement before touring a home with an agent. The agreement explains how your Realtor will act as your dedicated and professional guide. It also outlines their ethical and fiduciary duties to represent you to the best of their ability. The terms of the agreement are negotiated between you and your Realtor.
A buyer’s agent will listen to your needs and preferences, and work with your budget to help you find suitable properties to tour. Because of their knowledge of the local area, these agents are able to narrow down the search and save you valuable time by showing you homes that match your criteria. Their skills and experience provide insights into the neighborhood trends, property values, and market conditions. Buying a home is one of the largest, most consequential purchases of your life. It is crucial to have someone on your side who can help you understand this hugely complex process, the legal documents such as purchase agreements, disclosures, and reports. A buyer’s agent ensures that you are aware of your rights and obligations, to protect you from potential legal pitfalls.
Signing a Buyer Representation Agreement is the first step in solidifying a rewarding and productive collaboration with your Realtor.
If you are in the market to buy a property, contact us at (714)835-7126 or e-mail us at info@communityrealestate.us.com. We’ll be happy to assist you.
Yes, Real Estate services are considered essential services. Agents are allowed to show homes and conduct homes sales following new guidelines. Contact us or any of our agents for more information.
Price your home too high and it won’t sell. Price your home too low and you won’t get the true value from your investment. Do your homework before you set a price for your home. We’ll be happy to provide you with comparable sales for the area with no obligation on your part. Simply contact us and we’ll provide you with the recent home sales in your area.
Be advised that comparable sales information doesn’t tell the whole story. Sometimes a property much like yours has extensive upgrades and might command a higher than usual price. Another home may lack many of the features your home has and may have sold for less than you can expect. We can provide you with details on every home that sold or is listed and we’ll be happy to share that information with you at no obligation. Call us at (714)835-7126 or e-mail us at info@communityrealestate.us.com We will be happy to help you sell your home.
Some sellers don’t worry too much about putting a high price tag on their home. They figure prospective buyers are going to offer less money anyway so why not start high and come down later? There may be some truth to this philosophy but there are dangers as well. Homes that are priced a few thousand dollars over market may receive offers that initiate the bargaining process but a home can be priced so high that buyers steer clear altogether.
A home that is on the market too long is often a red flag for prospective buyers. And believe us, they ask! While it is true you can always reduce your price at a later date, buyers may wonder what is the matter with your home that it didn’t sell.
When you are planning to sell your home, here are some of the factors to consider:
- Supply and demand in the local housing market.
- General and local economic conditions.
- Home prices in your area.
- Your location.
- Your home’s extras.
How you price your home may make a big difference in how quickly it sells and on your bottom line. We recommend that you obtain a Comparative Market Analysis (CMA) so that you know what homes like yours have sold for in the past several months.
We can help you make an informed decision on the best price for your home because we keep up to date with factors that concern real estate values in your area. We will provide you with a CMA so you will have the latest sales figures and we will report on any local or general economic or supply and demand factors that are currently affecting home prices. Because we have experience in what buyers want, we can help evaluate your home’s extra selling features so that you start off on the right track.
There is no obligation on your part for a Comparative Market Analysis. Just call us at (714)835-7126 or send us an e-mail info@communityrealestate.us.com message that you want a CMA for your home. You will be glad you did.
Regardless of the reason for wanting to sell your home, you wouldn’t be human if you did not want to get the best possible price for it. Experience has taught us that homes in good, clean condition sell faster and for more money than homes that need repairs and good cleaning. Let us share with you some of the items that prospective buyers notice and take into consideration when shopping for a new home.
First Impressions are so important to prospective buyers that we can hardly overstate the need for good curb appeal for your home. Landscaping that needs weeding or pruning may remind prospective buyers what a tedious job gardening can be. At the very least, prospects are deducting the costs of probable landscaping from any offer they may make on your home. Does your home need paint? Sometimes just painting the trim will make a world of difference. Is the driveway crumbling? Are there cracks in walkways? These are warning signs for prospective buyers. Is the yard full of clutter? Prospects interpret clutter inside or outside of the house as cramped conditions – not enough storage. You know what to do.
Let’s move inside. It may sound contradictory but you have another chance to make a good First Impression the moment prospective buyers walk through your front door. Does your house smell clean and fresh or have pet odors permeated the carpeting and drapes? The following is a list of major considerations that prospective buyers look for in a home:
Cleanliness — Make your kitchen and bathrooms gleam. Shampoo carpet and wipe handprints off the walls. There’s nothing like a good coat of fresh paint to make a house sparkle.
Clutter — Prospective buyers will look in your closets, cupboards and inside your oven. If every spare space is crammed, buyers will think there is not enough storage space in your house. Take a look at the furniture in your rooms. If you have so much furniture there is little room for moving about, consider storing some items until after you sell.
Repairs — Buyers will flush toilets, turn on faucets, check areas around bathtubs and showers for signs of disrepair or leaks.
Want More Details on Preparations for Selling Your Home? Often times the best place to start is with a professional Comparative Marketing Analysis (CMA) that will give you a picture of high, medium and low pricing realities. This valuable information may help you decide whether or not to invest in necessary home repairs before listing or advertising your home. We provide this service at no charge for homeowners who are thinking about selling their home. There’s no obligation. Just call us at (714)835-7126 or send us an e-mail at info@communityrealestate.us.com if you would like a CMA for your home.
It is hardly fair for us to ask that question since the decision is totally yours to make. However, we can give you an overview of the services we can provide for you and that may help you make your decision.
As experience real estate professionals, we will help you set a fair price for your home so that you DO receive top dollar and sell your home in a reasonable time.
We will promote your home to other agents in the area and we will list your home on the MLS and on the major Internet home sites so that buyers and real estate agents from all over the world will have access to your home’s information. In addition, we will prepare professional flyers with pictures and information of your home.
We will pre-approve prospective buyers to weed out those who may not be able to afford or to obtain financing to purchase your home. We will negotiate on your behalf with qualified buyers so that all parties are satisfied with the transaction.
We will handle the many “details” of the sale including ordering inspections, initiating escrow, facilitating paperwork, complying with legal restrictions and much more.
Please call (714)835-7126 or e-mail us info@communityrealestate.us.com to provide you with a Free Comparative Market Analysis of your home. We look forward to hearing from you.
Buying or selling a home calls for solid negotiating expertise. A REALTOR® can assist with the critical negotiations included in every real estate transaction, and help both buyers and sellers through the whole process of buying or selling their home. As members of their local, state and national trade associations, REALTORS® have access to the latest technologies serving the housing industry today. This includes Web sites and multiple listing services, as well as market reports detailing crucial data, pricing trends, time on the market and sales activity in an specific neighborhood. As your REALTORS® we will provide you with the service you deserve.
There are several reasons for buying a home today:
1. Homes are increasing in prices and there are not enough homes available on the market now which means if the Buyer wants to still get a fairly deal he has to buy now before it becomes a full blown Sellers’ market.
2. The interest rates on long-term, fixed, and adjustable loans are still low. Low interest rates make it easier to qualify for a loan, and monthly payments are more affordable.
3. There are a variety of loan programs for First Time Buyers.
4. There is a temporary increase in conforming loan limits for FHA, Fannie Mae and Freddie Mac. Existing homeowners may be able to refinance their homes and Buyers may have more opportunities to qualify for a loan.
5. Homeownership is still the best long-term financial investment.
Call us at (714)835-7126 and we will help you in finding your new home and/or obtaining the proper financing.
If you are facing financial difficulty, which has caused you or might cause you to get behind in your monthly mortgage payments, there is a way to save your home and it is called “Loan Modification”.
Depending in your financial situation and the kind of mortgage you have, it can be modified if the Lender accepts one or more of the loan modifications set forth below:
– Change adjustable interest rate to a fixed interest rate
– Reduce fixed interest rate to a lower fixed interest rate – Reduce balance of the principal amount of the loan
– Reduce adjustable interest rate/ reduce CAPS of adjustable interest rate
– Stop upward adjustment of adjustable interest rate
– Arrange for the delinquent payment amounts to be added to the end of the loan
– Arrange for the delinquent payment amounts to be added to a longer loan period
– Arrange for the delinquent payment amounts to be accepted in an alternative payment plan
– Eliminate or reduce the delinquent payments amounts
– Arrange for the lender to accept a discounted pay-off or forbearance
Call us at (714)835-7126 or e-mail us at info@communityrealestate.us.comand we will explain according to your financial situation what would be feasible and how we can help you in modifying your loan.
A Short Sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In most cases, the difference is forgiven by the lender.
A Short Sale is different from a Foreclosure, which is when the lender takes title of your home after you defaulted on your loan and then sells it.
Let’s say you are behind in your monthly mortgage payments, you lost your job or are facing financial difficulty, which prevents you from keeping your home. The market value of your home is considerably less than what you actually owe to the lender or lenders. Your house is in foreclosure or will soon be. You can list your home with a Realtor® for a Short Sale. Your listing real estate agent will place your home in the market for sale and at the same time will start negotiating with your lender or lenders to accept the short sale, which means that the lender will have to accept the amount your home sells for instead of the amount you actually owe in order to facilitate the sale. If the lender accepts, your home is sold and the debt shows on your credit report as “pre-foreclosure in redemption” or “paid/short paid”, not as “debt discharged due to foreclosure”. The agent’s commission is paid by the lender.
There are several kinds of short sales. Call us at (714)835-7126 or e-mail us at info@communityrealestate.us.com for more details.
The Home Affordable Foreclosure Alternative program (HAFA) is a Short Sale Program. The difference between the regular Short Sale and the HAFA Short Sale is that through the federal government’s recent legislation, there are incentives for both borrowers and lenders to close a short sale transaction. Of course not everyone qualifies under HAFA. But if your short sale qualifies and closes successfully, meaning after selling your property, HAFA requires that you be fully released from future liability for your mortgage debt. The deficiency is guaranteed to be waived by the lender(s). HAFA can also provide you with $3,000 or more, depending on the lender, in relocation assistance.
To find out if you qualify under the HAFA program, contact us at (714)835-7126 or e-mail us at info@communityrealestate.us.com.
If you are underwater (meaning you owe more than the current market value of your home) on your conforming, conventional mortgage, you may be eligible to refinance at a lower interest and fixed rate without paying down principal and without having to pay mortgage insurance.
To be eligible to refinance under this program you must meet the following criteria:
- Your loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
- Your loan must have been obtained on or before 05/31/2009.
- You must be current on your loan payments at the time of refinance, with no late payments in the past 6 months and no more than 1 late payment in the past 12 months.
- Your loan cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May 2009.
To take advantage of this program, you need to find out if your loan is owned or guaranteed by Fannie Mae or Freddie Mac. The HARP 2 Program has been extended to December 31, 2015.
Call our affiliated RiverGold Financial Services at 714-835-7126 or email info@RiverGoldFinancial.com for more details and to find out if you are eligible.
Distressed California Homeowners May Qualify for California’s Keep Your Home California Transition Assistance Program (TAP)
If you can no longer afford your home and are pursuing a short sale or a deed in lieu of foreclosure, you may be eligible for financial help with your relocation to alternative housing.
The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.
The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes. You must:
♦ Apply for the funds through your state’s website or by calling 1.888.954.5337.
♦ Maintain your property until your house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.
For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.
To find out if you qualify under the TAP program, contact us at (714)835-7126 or e-mail us at info@communityrealestate.us.com.
