Recent PostsRecently posted or modified blog posts by tag - Featuredhttps://www.orianashea.com/blog/Copyright OrianaShea.com2022-12-29T15:40:03-07:00tag:orianashea.com,2012-09-20:23368Should You Sell Your Home During The Holidays?<img src="https://assets.site-static.com/userfiles/2461/image/Mass_Email_Hoilday_Pic.jpg" width="749" height="468" alt="Selling Your Long Beach Home During The Holidays" />
Over the years we’ve had many conversations with homeowners that want to sell their homes during the last quarter of the year and they always ask the same question — “Is selling my home during the holidays a good idea?”
It’s a common misconception that it’s harder for homes to sell toward the end of the year, but we can tell you from experience that is simply not true! There have been years that December has been our busiest month for closings, surpassing both Spring and Summer.
If you’re thinking of selling your home in Long Beach, or anywhere in Southern California, during the holidays, here are 5 reasons why selling now can make a lot of dollars and sense.
1. Lack of Competition
The same reason you might hesitate to sell your home during the holidays, is also going to keep other homeowners from listing their homes. So this common misconception now strategically works in your favor! With fewer homes on the market, you weed out the competition. This can be easily verified by reviewing the active inventory with a real estate professional.
Think about this, do you stand to have better results selling your home with more competition in the Spring and Summer months, or with less competition at the end of the year? Buyers need to move regardless of the time of year and there were plenty of people in the market for a new home during the last quarter.
2. More Time for Buyers to Look
It stands to reason that people generally have more time off during the holidays allowing buyers more flexibility for looking at homes. Listing your home when people are more available to view it greatly increases your chances of landing a great buyer for your property.
3. Homes Show Better During the Holidays
Cheerful spirits abound! Buyers love homes that are beautifully decorated for the holidays and it creates even more of an emotional pull for them to visualize spending their next holiday in the home. However, this doesn’t mean that you have to decorate if it’s not your thing.
4. More Serious Buyers
Simply put, the buyers that are in the market this time of year aren’t messing around. Whether it’s for a new job, growing family, or even tax purposes, they are very serious about buying a home. As a seller, you want the most serious buyers in the market to move your home faster.
5. Beat the Rush
After the holidays are over and everyone goes back to work and their routines, guess what happens? We start to see an increase in inventory of homes for sale. It’s a simple case of supply and demand. So listing your home during the holidays will entice more eyes. You want your home to be on the market when you have less competition… not more!
Bottom Line
If you’re thinking about selling your home and have questions about the process, please give us a call! We would love to have a conversation with you to discuss your selling and buying needs… anytime of year!
About The Oriana Shea Group
At The Oriana Shea Group, you will find a wide variety of useful tools and resources designed to help you with the home-buying and selling process. From information on the region’s different communities to a <a href="https://www.orianashea.com/sellers/free-market-analysis/">free comparative market analysis</a> on your home, it’s all available here on our website. Our full-time agents serve Long Beach, Seal Beach, Lakewood, Rossmoor, Los Alamitos, Huntington Beach and the surrounding areas.
Call (562) 270-1775 Today or Contact Us <a href="https://www.orianashea.com/contact/">HERE</a>!
2022-12-06T08:15:00-07:002022-12-16T12:19:15-07:00Oriana Sheatag:orianashea.com,2012-09-20:15854What Is An iBuyer And Should I Sell My Home To One?<img src="https://assets.site-static.com/userfiles/2461/image/iBuyer_home_for_sale.png" width="973" height="648" />
We’ve all seen the ads, “We Buy Your Home As-Is, In Any Condition!” or "We Buy Your Home for Cash!" But who is behind these alluring ads? These corporate entities are called are Instant Offer Companies, also known as iBuyers.
What Is An iBuyer?
iBuyers purchase real estate directly from Sellers using cash, Wall Street-backed funds, or venture-capitalist funds. iBuyers advertise a quick, no-hassle sale without the need for a traditional Real Estate Agent or having to pay a commission.
iBuyers use data and computer algorithms to determine an offer price that is commonly below the market price of a home listed on the Multiple Listing Service (MLS). If you are a Seller looking for a quick closing or a way around paying a REALTOR® commission, choosing to sell to an iBuyer may seem like an attractive option, but you could be trading your equity for convenience.
How Does The iBuyer Process Work?
The iBuyer process begins by generating an opening price. They then present that price to you before anyone sets foot in your home. This is called an Immediate Offer. The iBuyer puts all kinds of contingencies on the offer. After you accept the Immediate Offer, the journey to the actual offer, known as the Adjusted Offer, begins.
The Cost of Working with an iBuyer
The iBuyer sends representatives to see your property and conducts inspections. After that, they move to lift contingencies by ordering repairs to be made and/or adjusting the offer price. Big-name iBuyers such as Zillow, Opendoor, and Redfin typically charge fees between 6-12% in addition to service charges and the cost of repairs determined by their inspectors. This is much higher than the typical 5-6% REALTOR®’S commission and negotiable terms for repairs. These charges add up and come out of the price of your home, cutting into your net profit.
After buying your home, commonly for less than it’s worth, the iBuyer then lists it on the open market and sells it for market value, pocketing your equity. On the other hand, a REALTOR® brings on-the-ground experience and understanding of the local market and its Buyers on Day One. Your Real Estate Agent can generate an actual market analysis, considering your home’s upgrades and the difference within your local market. Your Agent then assists you, the Seller, with establishing an asking price, putting the control back in your hands, unlike the iBuyer.
Should I Sell My Home to an iBuyer? - The Bottom Line
Regardless of the buzz around iBuyers, Sellers are still choosing to pass on them, and typically prefer to work with an Agent instead. A recent report by Redfin shows iBuyers purchased just 0.3% of the homes sold in the fourth quarter of 2020.
Still debating whether the iBuyer process is right for you? Let us, the Oriana Shea Group, help you find the best option for selling your home. We’ll show you all the fees associated with the process and run the numbers for both scenarios. Simply Click Here to schedule your free consult or call us at (562) 270-1775. There is never any pressure or hassle with us!
Call (562) 270-1775 Today or Contact Us <a href="https://www.orianashea.com/contact/" data-uw-rm-brl="false" aria-label="Call (562) 270-1775 Today or Contact Us HERE" uw-rm-vague-link-id="https://www.orianashea.com/contact/$here" data-uw-rm-vglnk="">HERE</a>!2021-10-13T14:30:00-07:002022-12-29T15:40:03-07:00Oriana Sheatag:orianashea.com,2012-09-20:13925Make Real Estate Your Wealth Building Asset<img src="https://assets.site-static.com/userfiles/2461/image/3_1.jpg" width="989" height="659" />
Where do you see yourself in five years? If you are in the market for a new home or already a homeowner, you could see yourself with a substantial increase in net worth. Most experts project home values to continue climbing over the next several years.
Homeownership is an investment that not only delivers on the promise of a place of your own to feel safe and secure, to build memories, and to share experiences with friends and family, but it also can bring you a significant financial benefit!
Net Worth & Your Home
It is no secret that as you make your mortgage payments, the amount you owe on your home goes down while the equity in it goes up. Making improvements inside your home or to its curb appeal can be a rewarding experience, not only to you but to your home’s worth, further adding to your equity in the property.
Additionally, however, as time goes by, the real estate market historically tends to trend upward, making time your friend when it comes to increasing your home’s net worth even more!
However, the next five years look particularly promising, according to the most recent Zillow Home Price Expectation (ZHPE) Survey of over 100 economists, real estate experts, and investment and market strategists. They are forecasting home appreciation to increase as follows:
2021: 6%
2022: 4.5%
2023: 4%
2024: 3.6%
2025: 3.5%
How Does Home Appreciation Translate Into Dollars?
The graph below shows the equity build-up you could earn, based on the purchase of a $350,000 home:
<img src="https://assets.site-static.com/userfiles/2461/image/kyujyh.png" width="979" height="735" style="font-size: 17px; color: #363636; font-family: sans-serif;" />
According to these projections, you could see a net worth increase on this price point of over $80,000 or an average of $16,000 annually over the next five years!
As home prices continue to climb in this market, homebuyers may worry about high mortgage payments, and that is why it is important to buy sooner rather than later. Due to low mortgage rates, Mark Fleming, Chief Economist at First American, points out that monthly payments are still below the numbers we saw in Spring 2019 but are approaching a return to that level this spring.
Experts project rates to continue to rise this year, and homebuyers cannot afford to wait to lock in the lowest mortgage rate they can get in order to afford their dream home.
The Path To Financial Freedom
If you’re already a homeowner, sit back and let your home build your wealth. If you’re in the market for a new home, call us today and let us help you find that home you can enjoy while it puts money in your pocket!
Call (562) 270-1775 Today or Contact Us <a href="https://www.orianashea.com/contact/" data-uw-rm-brl="false" aria-label="Call (562) 270-1775 Today or Contact Us HERE" uw-rm-vague-link-id="https://www.orianashea.com/contact/$here" data-uw-rm-vglnk="">HERE</a>!2021-05-13T13:49:00-07:002022-12-28T15:22:28-07:00Oriana Sheatag:orianashea.com,2012-09-20:13437How A Change In Mortgage Rate Impacts Your Homebuying Budget<img src="https://assets.site-static.com/userfiles/2461/image/Picture1.png" width="895" height="672" />
Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares:
“Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power” (See graph above).
When buying a home, it’s important to determine a monthly budget so you can plan for and understand what you can afford. However, when you need to stick to your budget, even a small increase in the mortgage rate can make a big difference.
In essence, it’s ideal to close on a home loan when mortgage rates are low, so you can afford to borrow more money. This gives you more purchasing power when you buy a home. Mark Fleming, Chief Economist at First American, explains:
“Monthly payments have remained manageable despite soaring home prices because of low mortgage rates. In fact, monthly payments remain below the $1,250 to $1,260 range that we saw in both fall 2018 and spring 2019, but they are on track to hit that level this spring.
Although they remain low, mortgage rates have begun to increase and are expected to rise further later in the year, thus affordability will test buyer demand in the months ahead and likely help slow the pace of price growth.”
Today’s mortgage rates are still very low, but experts project they’ll continue to rise modestly this year. As a result, every moment counts for homebuyers who want to secure the lowest mortgage rate they can in order to be able to afford the home of their dreams.
Bottom Line
Thanks to low mortgage rates, the spring housing market’s in bloom for buyers – but these favorable conditions may not last for long.
Call (562) 270-1775 Today or Contact Us <a href="https://www.orianashea.com/contact/" data-uw-rm-brl="false" aria-label="Call (562) 270-1775 Today or Contact Us HERE" uw-rm-vague-link-id="https://www.orianashea.com/contact/$here" data-uw-rm-vglnk="">HERE</a>!
Source: Keeping Current Matters2021-04-05T13:04:00-07:002022-12-28T15:26:14-07:00Oriana Sheatag:orianashea.com,2012-09-20:13024Millennials: Is It Time To Buy A Bigger Home? In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you’re like many millennials who are spending much more time at home these days, you may have a growing need for more space or upgraded features, making moving more desirable than ever.
For those millennials who already own a home, there’s a great opportunity to move up in 2021. Danielle Hale, Chief Economist at realtor.com, explains: “Older millennials will be trade-up buyers with many having owned their first homes long enough to see substantial equity gains.”
Even if you bought a home sometime in the last few years, you may have more equity than you realize, and that’s a big factor to consider when you’re thinking about moving. According to the Homeowner Equity Insights Report from CoreLogic:
“In the third quarter of 2020, the average homeowner gained approximately $17,000 in equity during the past year. This marks the largest average equity gain since the first quarter of 2014.”
Growing equity can be the driver you’re looking for to fund your next move, especially if what you need in a home is changing right now. As equity builds over time, it can be put toward the down payment on your next home.
In addition to equity gains, today’s housing market affordability is powered by record-low mortgage rates, so moving at a time when you can get more for your money may be more realistic than you think.
Bottom Line
If you’re a millennial thinking about moving this year, you’re not alone. Give me a call today to shed light on the equity you have in your current home and the opportunities it can create.
Call (562) 270-1775 Today or Contact Us <a href="https://www.orianashea.com/contact/" data-uw-rm-brl="false" aria-label="Call (562) 270-1775 Today or Contact Us HERE" uw-rm-vague-link-id="https://www.orianashea.com/contact/$here" data-uw-rm-vglnk="">HERE</a>!
Source: keepingcurrentmatters.com2021-03-03T12:43:00-07:002022-12-28T15:27:49-07:00Oriana Shea