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The Rilliet Report March 2016

April 12 2016
April 12 2016
apr.com

The Rilliet Report

THE BUZZ


Spring is here and the prime reason for buying or selling your home is upon us. Pending sales continue to rise and buyers are serious. Is it time for a change?

According to Lawrence Yun, NAR chief economist, "After some volatility this winter, the latest data is encouraging in that buyers are attracted by mortgage rates dipping to their lowest levels in nearly a year. Looking ahead, the key for sustained momentum is a continuous stream of new listings quickly replacing what's being scooped up by a growing pool of buyers."

The word "bubble" is being floated around. But economists don't see a bubble occurring. 

Yun agrees: "Any further moderation in prices is welcome, particularly in the West where buyers are becoming wary of high asking prices and stiff competition."

So when is the best time to sell? Zillow economists have identified early May, nationally, as the "magic window" based on eight years of data. I always say real estate is local. Still, if you want to test May Magic, give me a call.

 

JUST ASK

Q: To prepare my home for sale, what can I do that is not expensive?

A: As I view new listings, what stands out is a home that is very neat and clean. Closets are organized, kitchen counters are clear, bathrooms are sparkling, garages are organized. I call these houses "crisp". None of this costs money, just elbow grease and lots of clearing out of daily living signs. Declutter and remove all but the basics.

One website that I found that has a great Spring Cleaning Checklist is www.homecarebuzz.com. You can print out the pdf version to keep as a reminder of what should be done. Also that website has a great adult coloring book which is a new fad. Maybe after a long day of cleaning, losing yourself in coloring is a great de-stresser?

Let me know if you want me to do a walk through pre-cleaning to bounce ideas around. I am here to advise.

 

MY TOWN

Getting ready to sell? Doing a walk through of your home? Here are a few tips for possible easy touchups.

As you simplify and depersonalize your home, you may need to get rid of unsightly nail holes behind portraits and posters. Non-gel toothpaste, a household staple, can easily fill the holes while blending seamlessly into the walls. Rub a dallop of paste into the hole, blotting the excess with a wet rag for a pristine finish.

Do you have dents in wood floors and furniture? After wetting the indentation, place a damp towel over it. Then, press a hot clothes iron over the towel, using circular motions for a few minutes to give dings a barely there- if not invisible- look.

Have a dripping shower head? Fill a zip lock bag halfway with vinegar, secure it over the shower head with rubber bands, and let it sit overnight. In the morning, remove the bag, rinse the shower head, and enjoy the refreshing, fast-flowing water.

A Phillips-head screwdriver is a must-have in every DIYer's toolkit, but if it's gone missing from your toolkit, one of your kitchen mainstays can work similar wonders: a vegetable peeler. Insert the tip of the peeler into the screw head, and turn it counterclockwise for an in-a-pinch solution for removing fasteners.

Attention to details reflects the care you have put into your home. I hope this helps.

 

FYI

Fannie Mae has introduced HomeStyle Energy mortgage, an enhanced option for borrowers who want to finance energy and water efficiency improvements to their home. Energy mortgages can be used on 1-4 unit properties, including condominium units, and is available for all approved Fannie Mae lenders.

Buyers purchasing a home and wanting to improve the energy efficiency can now receive up to 15% of the as-completed appraised value to use for upgrades. Another way to finance these upgrades are through a subordinate lien, home equity line of credit of an unsecured loan.

Upgrading with weatherization or water-efficiency features may have long range benefits and are positive improvements for selling. Best to check with your lender when financing your next home or improving your current one.

 


Sheldon T Rilliet
Realtor
DRE#01828200
1440 Chapin Avenue, Suite 200
Burlingame, CA 94010
Work: 650.931.2085
Mobile: 415.559.9691
Fax: 650-931-2099
sheldon@apr.com
http://www.SheldonRilliet.com

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