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A Military Way Of Life

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I have lived in San Diego for over 30 years, so it’s easy to forget that this is such a military town. It is a way of life here, something that too often is taken for granted.

I have been around the military and military families most of my adult life. Living in San Diego, most of us have friends and business associates who are, or were, in the military. I think all branches of the service are represented here, but mostly Navy, Marines, and Coast Guard. Once when we were attending a Century 21 event in Coronado and were staying at the Hotel Del Coronado, we were awakened about 4:00 am to Navy Seals storming the beach as part of their training. We got up and had our coffee on the balcony while watching them. It was awesome!

I had the privilege of attending a client’s Retirement Ceremony from the Navy on Friday. She has served as a Navy Nurse for 22 years. A remarkable woman, I don’t think I have ever seen her without a smile.  She is an optimist, a lover of animals, and has a great laugh. When she moved to San Diego, it was with the goal of finding a home that would enable her to reach her ultimate goal of expanding her dog rescue organization. We found the perfect place in Dehesa Valley.

While I have seen it before, the Passing the Flag – Old Glory Ceremony, always makes me cry. It is so moving. And, this week, it reminded me how honored I am to be able to work with so many clients and friends who serve in the military, whether active duty or retired. Why I am so glad I can help them with buying or selling a home, and help to ensure their move is as stress free as possible. That we find a place where their families will be happy and secure while they are deployed…perhaps a home they can return to at retirement…an investment in their future.

If you have never seen the ceremony, take a few minutes to watch. I think you will be proud of our military men and women, too!

Cultivating a Garden, Isn’t It What Life’s All About?

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We have been planting and harvesting gardens, in some size or another, for almost 25 years. We usually planted pumpkins along with tomatoes, peppers, corn, zucchini, you get the picture. When our daughter was growing up, we wanted to have home-grown pumpkins to carve into jack-o-lanterns for Halloween. Most years, we were lucky if we had one or two pumpkins out of the crop, and they never got really big.  We harvested them and used them for decorations during the fall holidays. They served a purpose, but we were always a little disappointed. We could buy really big pumpkins, better for carving, at the grocery store.

This year, we have the most amazing pumpkin patch ever. It has expanded into garden space never intended for the pumpkin patch. But, we are so amazed at what’s happening, we are just letting it go and see what happens. I knew we had a few little pumpkins growing. But when I peeked under the leaves this weekend, I was astonished by what I saw. Pumpkins, lots of pumpkins. And they are going to be big!

In a way, the pumpkin patch reminds me of my business. I sell homes in San Diego, and have been for over 20 years. While I never “farmed” (as they call it in the real estate business) an area, I did try to cultivate relationships with the people I worked with, all over San Diego. Why? Well, I really do like and care about the families I work with. I have always believed that the best business is referral business, word of mouth, people recommending your services. You work hard to provide great service and really care about clients. You take care of their needs; you care about their families, their problems, their triumphs. You help them over rough patches and celebrate the good times with them. You answer questions and give advice.  And, one day, you realize you have this wonderful group of people who want to help you, too! And, 20+ years later, I am amazed and grateful how my business has grown. Kind of like our pumpkin patch!

A True Hero

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imagesIndependence Day has always been one of my favorite holidays.  Why?   I guess because it’s about getting together with family and friends for picnics and barbecues, everyone bringing something to share, lazy summer days and warm nights. And, of course, fireworks.

Working with military families, helping them sell or buy homes, is a natural part of my business since I live in San Diego, a very military town. I am proud to call the many military families I have helped “my clients” and love helping them. They hold a special place in my heart.

When my husband was raising the flag on the flag pole in our yard the morning of July 4th this year he had the opportunity to talk with one of our neighbors. When he told me about the conversation, it struck a chord with me. And, later in the day when our neighbor stopped by, I learned what makes a true hero.

Ron is in his 80’s now. He has been married to his best friend and soul mate for about 60 years. Ron is a quiet man, pretty private. He is an old school kind of guy, always polite, never would tell an off colored joke in front of a “lady”.  I have been “Miss Terri” to him since we have known him, about 18 years I guess.

Ron doesn’t share too much about himself. It comes out in spurts, over years. I knew Ron was an orphan, but did not know much else about his childhood. Turns out his birth certificate reads “Infant Male Unknown Last Name”.  Ron didn’t have a name growing up. He was in orphanages and foster homes pretty much his entire childhood. No one ever gave him a name, not a real name. He was called things, but never by his name.

He was in and out of foster homes until he finally stayed in one place. He had a foster-brother, son of his foster parents, and he liked this brother.  When he moved to San Diego  and wanted to join the Navy, he found out he had to have a name on a birth certificate. His brother’s name was Donald, so he took Ronald as his name, along with the brother’s last name. Imagine being 18 years old and finally having a name.

Ron served four years in the Navy during the Korean “Conflict” (never was called a war). He was even in shark infested waters for 16 hours once.  He has never wanted to call attention to himself and talk about his time in the Navy. Talking about it yesterday brought tears to his eyes.  That’s a tale for another day.

So why is Ron a hero to me? This man overcame a childhood that no one should have to endure. He served his country with honor. He married a wonderful woman and they have a great marriage, are devoted to one another. He owned a successful business and raised a family.  He doesn’t seek recognition of any kind, nor does he want it. He is just an everyday kind of guy. The kind who make this country great.  He is my hero.

Want To Make More Money When You Sell Your Home?

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ImageSo, you have been pleasantly surprised by the increase in prices and you have decided to take the plunge and put your home on the market. You have watched the TV home improvement shows and know you should “get your home ready” or “stage” it, but what does that mean?

I can’t stress the value of “curb appeal” enough. When potential buyers arrive at your home and walk to the front door, are they making a list repairs that need to be completed? Or, are they drawn to the freshly painted and welcoming front door? The new door mat? The colorful flowers in the pot? It makes a big difference.

I recommend you stand across the street from your home and pretend you are a buyer…what do you see? Let your emotional ties to the home go and be honest.  Is the front door dusty and in need of paint? Can you see the trash cans? Are the walks clean?

Most homes show better with less furniture.  You have decided to move, so start packing! Rent a storage unit for furniture that blocks paths through your home and put them in storage. Do you need all the books on the book shelves – probably not, pack them. What about out of season clothes or toys your kids don’t play with anymore?

Now is the time to de-clutter – if you haven’t used it in a month, does it really need to be out on a counter? If not, donate it or pack it away!

You must de-personalize! Pack up those personal photographs. You want potential buyers to say “I can see myself living here” not wondering what kind of people live here now, looking at your family photos to see if they know you!

Your house needs to shine! Wash windows inside and out. Re-caulk tubs and showers if needed. Polish faucets and mirrors. Replace worn rugs. Hang up fresh towels. Keep the beds made!

Now is the time to make minor repairs. Even better is to have a home inspection that you can provide the buyer with a list of the items you have or will take care of.

Taking a couple of weeks to prepare your home for sale can be worth literally thousands of dollars…REALLY.  I would be happy to share more details for how to prepare your home for sale, just let me know how I can help you!

HOW TO PRICE YOUR HOME TO SELL: Obtaining the best price when selling your home while preparing for appraisal issues

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You have decided to sell your home and have set an appointment to meet with your Realtor.  There are many things to discuss during the listing consultation, but one of the most relevant today is pricing.

You may think that is obvious.  After all, you will be looking at the comparable sales as a guide to determine the price you set for your home. But in today’s market, it’s even more important. Why? In most areas of San Diego County, we are experiencing an extremely low inventory of homes for sale – one to two months in many areas. This means that there has been a change in the market and not all appraisers are responding to that.

Appraisal issues are usually fueled by the difference between the price that buyers are willing to pay in today’s competitive market and the appraisals that are based on comparable sales that are two to three months ago. This is especially an issue for first time home buyers who are already competing with investors offering cash, over asking price, with no appraisal contingencies.

Sellers are often dealing with multiple offers in today’s market, giving them the opportunity to obtain the best price for their home, but also to negotiate the best terms. They may have the option to select between investors or first time home buyers; cash buyers, buyers obtaining conventional, FHA or VA financing.  Whether or not your Realtor thinks there may be an appraisal issue is an important discussion to have.

Your listing agent must take the lead when it is appraisal time. I recommend meeting the appraiser at the property and bringing information about the market. If there are multiple offers on the property, that is vital information to convey. The listing agent should be knowledgeable about the comparable sales – were the extenuating circumstances that brought a low price (death on the property, condition, school districts, distress sale).

Sometimes, the issue is an appraiser coming from out of the area. It’s impossible for an appraiser coming from Orange or Riverside Counties to have knowledge about the individual communities in San Diego. Yet, we still see out of area appraisers completing appraisals in San Diego. This was brought about by the initiation of appraisal management companies (AMC’s) that most lenders are now using. These AMC’s often keep half of the appraisal fee charged (the fees used to go directly to the appraisers), and many appraisers are saying they can’t afford to work for half of the fee. So, you may be getting the cheapest and fastest appraiser.  You may not be getting the best appraiser, one who knows your local market.

My advice, price your home based on the most current market data and keep in mind that there may well be appraisal issues in today’s market. Be ready for that possibility and have a plan to deal with the situation if it does happen.  An experienced listing agent can help you every step along the way.

FINDING THE RIGHT REALTOR: What It Takes To Buy A Home In San Diego Today

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When I started working with my clients James & Sharon in June, they were really excited about buying their first home. They thought it would take about a week or two to find a home, write an offer, and have it accepted.  But, the rapidly declining inventory of homes for sale in San Diego County, especially in the under $275,000 price range, quickly shattered that illusion!

After viewing many homes, finding out that there were already multiple offers over the asking price, having three offers rejected because other buyers bid over what my clients could afford, we finally had an offer accepted and have since closed escrow. But, it’s not easy!

You are going to need an experienced agent…this is even more important in a competitive market. You need an agent who knows the local market, the other agents in the market, and the market trends. You need a veteran with a good reputation. Why? If there are multiple offers on a property, having an agent with a great reputation may give the listing agent the push they need to recommend the seller take your offer over others. The listing agent and sellers need to know that your agent is a pro who closes transactions.

In the lower price ranges, expect to pay the asking price or more!  With multiple offers now the norm, there really is no point in coming in low, you only diminish your chances of having your offer accepted, or even countered.

Write a biography about you and your family (or have your agent do it). Do you have kids? Where do you work? What do you love about the home? Send it, along with a picture of your family, with the offer. For my clients James & Sharon, it meant they had the edge over the competition. The sellers connected with their family and wanted them to have the home.

Example: I have a home listed for sale, under $275,000, a traditional sale. We had multiple offers. While I advised the seller to counter with all the buyers, they chose to work with only one family. Why?  Because the seller thought her parents would have loved these buyers being the ones to buy the home. They made an emotional connection.

True, in the case of bank owned or investor owned properties, this might not help. But with more and more traditional sales coming on the market, it can mean the difference between you being the lucky buyer selected or not!

Are Short Sales For You?

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With so many of the homes on the market today being short saleImages, they are something every buyer needs to consider.  Before you jump in with both feet, though, there are some things to think about! 

  • This is not your normal transaction. No matter what terms you and the seller agree to, the lien holders may not agree, and you are back to square one. The lien holders may make seemingly arbitrary decisions or requirements. That is the name of the game! 
  • You will not get a great “deal” with a short sale. Yes, the price may be discounted some, and that may not be worth the wait. The will banks have an appraisal or valuation of the property….we all have access to the same information, so value isn’t a secret. You will see short sale listings priced below market value in some cases. This is to encourage buyers to write an offer so something can be submitted to the lien holders to get the ball rolling. It doesn’t mean that the lien holders will accept the price you offer, and they often do not. You can expect to pay close to market value for a short sale in most cases.
  • Short sales do require experienced agents on both sides of the transaction…it is not time to work with a novice! Especially the listing agent should be experienced with short sales or you may waste months of time.
  • If you do not have extra money for repairs, do not make offers on short sales. In most cases, they are sold in As-Is condition and neither the sellers nor the lien holders will make any repairs. There may be exceptions, but don’t go into a transaction expecting it. If you are purchasing with FHA or VA financing, the property needs to be in good condition. 
  • Short sales take a long time!  The fastest closing I have seen is about 45 days, many take several months…up to a year or more. In our area, 90 to 120 days is normal. So, if you need to be moved in a certain time frame, short sales may not be for you.
  • Remember that even though the short sale process has, in many cases, improved, not all short sales will be approved. Some will never close escrow and will go into foreclosure. 

KCM posted a great article about short sales, you can read here.

I LIKE What I Do!

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I like what I do….I mean, I really like what I do.  I have always liked looking at homes, all types of homes. The homes I dreamed of owning and living in one day.  The quirky and unique homes.  The homes that needed work….but, oh, what they could be!  The homes that were too modern for me.  The homes with too many stairs or with the yard that was too small.  Homes with the great views. Even the homes I hated!

I even like going on home inspections!  Boy, what you can learn on a home inspection!  I have almost never had a home inspector not find problems with the electrical system…home owners have this thing about “I can do it myself “when it comes to the electrical systems in their homes. Really, unless you are an electrician, not a good idea! I have learned about foundations, the good, bad and ugly. HVAC systems, how they work and why they don’t. I have learned a lot about how to maintain your home.

Of course, I love looking at the gardens, vegetable gardens, flower gardens, any kind of garden. You can tell a lot about someone by looking at their garden! I have noticed many more vegetable gardens in the last few years; people are beginning to find the joy of growing their own veggies. I love our vegetable garden and am always looking for new ideas. Of course, I love flowers. Having fresh cut flowers in my home makes me happy.

So, I guess its natural that seeing a client’s face as I hand them the keys to their home, or their settlement papers when they sell a home, is so rewarding. What a high to see a young couple walk through the door to their first home. How bittersweet it is to close the door after helping an elderly client sell their home of many years as they go on to the next phase of life. How exciting to help investors make a great investment and reap the reward, or help a family move into their long anticipated dream home.

I just love it!

Your Selling Window May Be Closing!

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One thing I am sure of, there is no way to “time” the market, whether you are buying or selling.  Yes, you can make an educated guess about when we are at the bottom or top of the market, and you might be one of the lucky ones to get it pretty close. But, we never know when we have pulled out of a down market, or start the downward spiral in an up market until AFTER it happens!

All indications are that the banks will be releasing more foreclosures in 2012 than in 2011.  What does this mean to you? Well, if you are selling your home, get it sold now before more inventory hits the market.  With inventory low in most areas of San Diego, some sellers are getting multiple offers on their properties, pretty nice!  If you are a buyer, prices and interest rates are great. If you find a home you like, jump on it. Prices may decline some more, but they may not — every area is different. But if prices do decline it means you will have more competition.  Make your move now!

Should a seller have a home inspection?

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In most transactions, the buyer obtains a home inspection once a property is in escrow. This is at the buyer’s expense.  In California, our contracts state that the buyer is purchasing the home in its current and as-is condition, subject to buyer’s inspection rights.  In theory, this is great. But what often happens is that two weeks into a real estate transaction, there is a new round of negotiations.  The buyers usually ask for some repairs, even if they are minor.

For years home inspectors have encouraged sellers to obtain a home inspection prior to putting their home on the market.  Most sellers don’t and this has been the “norm” for years.

When I have clients who are selling a home they have not lived in, say for a family trust, I advise them to have a home inspection up front, at their expense. These sellers usually have very limited knowledge about the condition of the home.  We make the inspection report available to the buyer for their review, we can actually post it as an attachment in the Multiple Listing Service (and encourage them to have their own home inspection once in escrow).  The beauty of it is that the buyer can make an offer based on much more knowledge about the home.  After all, buyers don’t usually crawl up in the attic, or under the house, or get on the roof prior to writing an offer.

This helps both the seller in properly pricing a home, and a buyer in making an offer based on more information about the property.  For instance, when the seller has provided a home inspection and it indicates that the water heater is near the end of its life, the buyer can adjust the price of the price offered, or ask for the water heater to be replaced prior to close of escrow.  Alternatively, the seller can price a home at a realistic price, higher or lower, based on the condition of the home, having taken into account items discovered during the inspection.

Even for traditional sellers who live in their homes, I think it is a great idea to invest in a home inspection up front. If there are items that need attention, the seller has the opportunity to take care of them up front and make note that those items have been remedied.