Bakersfield, CA Real Estate Podcast with Debbie Banducci

Do You Want to Join a Team that Works for You?

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Tue, 21 Oct 2014 13:38:00 -0700

There are many great Bakersfield area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (661) 832-2355 for a FREE home buying or selling consultation to answer any of your real estate questions.

So many great things are happening here at Magic! Many new people have joined the company and we're incredibly excited to get to know each and every one of them. We're excited about setting agendas, pushing agents forward in their career, and holding ourselves accountable for bringing you the best speakers, classes, and educational opportunities available in our industry!

We are committed to bringing you the best in technology, equipment, staffing, and management support to ensure you reach your goals as an agent. Anything that will help YOU build YOUR business, we want to invest in! Our goal is to work for you, so you achieve the success you dream of and so your clients feel they've made the right choice working with you!

Does this sound like the kind of environment you could thrive in? We would love to chat with you, so give us a call or shoot us an email. We look forward to hearing from you soon!

We Reward You for Earning Your Business!

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Tue, 14 Oct 2014 12:52:00 -0700

We are very excited that so many terrific agents have joined our company recently. They are all signing on for The Plan and it has been a hit! We know how hard you work for your commissions and for your clients. In fact, that's why we built this agency by agents for agents.

Recently, a National Association of Realtors report said that, on average, 35% of sales volume comes from past client referrals, 30% comes from repeat business, 10% comes from your website, and 5% comes from social media. What does this tell us? For one, it tells us that YOU earned your business! You are not getting business from brokers or a franchise - you worked for it and you retained it!

Because we respect the hard work that agents do to achieve success, we would love to sit down with you and discuss your options. We know you deserve better, so give us a call or shoot us an email so we can start helping you make more money today!

Do You Want to Work for a Team By Agents, For Agents?

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Wed, 1 Oct 2014 07:16:00 -0700

The Debbie Banducci Team is excited to announce a new plan we've recently rolled out. It is a flat-fee transaction program just for agents. Because our company was created by agents, for agents, we're sticking to our commitment by offering The Plan to all of our agents working in offices here in Bakersfield, the Central Coast, and soon all throughout California.

We know how it is to gain and maintain a strong client database. We know how hard you work and how expensive it is to close out transactions, stay in business, stay compliant, and still do the best you can for your clients. We know how difficult it is just to stay licensed and be a member of the Board. Because all of these things add up, we're rewarding our agents with plans starting at just $600!

Not everyone's business fits into one neat little box - that's why we offer many different options, like private desk space and add-ons. If this sounds like the kind of environment you want to work in, don't hesitate to reach out to us. We're excited to meet you and show you how we do things differently here!

Tired of Paying Franchise Fees After Every Transaction?

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Mon, 15 Sep 2014 10:17:00 -0700

I've been an agent for over 23 years, so I know the ups and downs that are inevitable in our industry. When I started Magic, I wanted to build a company that's for agents and by agents. Because I've been in the industry for so long, I know the amount of time, effort, and money it costs to build a clientele and keep current in the real estate world. That's why we offer a flat-fee program that costs $600 per transaction.

We have offices here in Bakersfield and on the Central Coast that offer real estate school and have a full-time property management team. We plan on offering all the things you're used to in a full-service office without having to pay a lot in fees.

Are you interested in taking home more money per check? Sick of paying a percentage of every transaction for franchise fees? If you want to sit down for a free consultation and go over the numbers, give me a call or shoot me an email. I would love to help you start making more money today!

Become a better agent with the RE/MAX Magic team

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Thu, 10 Jul 2014 13:20:00 -0700

I've worked with the Bakersfield RE/MAX Magic team for 4 of my 11 years in the real estate business. Having worked with other agencies, I can say with confidence that no other real estate team offers what we do. We provide the best resources in the industry. With cutting-edge technology and great marketing tools at your fingertips, we make it easy for you to keep getting better. We also have an environment that encourages learning by offering classes about contracts, disclosures, and marketing techniques. Additionally, meetings with escrow and loan officers help to give our agents the most complete understanding of the industry.

Although the resources are top-notch and incredibly helpful in the pursuit of becoming a better agent, the nicest part of working at RE/MAX Magic is the sense of community. The office is lively, and there is always someone there to help when you are out. All of these things have helped me become a better agent and more helpful to my clients.

We want to help you become a better agent as well - give us a call to learn how you can join the RE/MAX Magic team and reach a whole new level of success!

Become a Great Agent with the Bakersfield Magic Team

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Fri, 20 Jun 2014 12:47:00 -0700

Being a real estate agent is an exciting and rewarding career. The sky is the limit for somebody who is driven to perform and dedicated to their craft. Learning new strategies are important for an agent so that you can work both smarter and faster. We are currently looking for individuals who may be a perfect fit to join the growing Bakersfield Re/Max Magic team.

We strongly believe in our training program "Success Academy" which prepares agents to be successful in the marketplace and have them selling immediately. In the Success Academy, you will get training from all the leading industry professionals in the area. You will learn everything from interpreting contracts to building a circle of influence, how to prospect, and many more.

Being a part of the Re/Max team also allows you access to a network of thousands of agents worldwide which will help you grow your business quickly. We want to help you take your business to the next level so please give us a call if you are interested at (661)617-4449 or careers@bakersfieldmagic.com

Perform These Tasks to Ensure the Healthy Life of Your Bakersfield Home!

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Thu, 29 May 2014 07:17:00 -0700

There are many great Bakersfield area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (661) 832-2355 for a FREE home buying or selling consultation to answer any of your real estate questions.

Perform These Tasks to Ensure the Healthy Life of Your Bakersfield Home!

I recently came across the article, 10 Home Maintenance Musts for Handy Men and Women, and thought that we all could use a reminder for things we may have overlooked over the years!

Know where your main electrical panel and main water shut-off valve are. This is important to know in the event of a disaster. Also, this important to know as soon as you move into a new house.
Know where your fire extinguisher is.
Replace the batteries in your smoke alarms and/or carbon monoxide detectors. Personally, I have a reminder set up on my smart phone that will remind me to check this in the spring and fall.
Keep your appliances running efficiently. Be sure to regularly check filters as they determine how well appliances run.
Caulk regularly. Caulk protects against moisture, so be sure you're checking the caulk around your weather stripping, tile, windows, etc. Also, make sure your grout is being sealed once a year and is kept clean.
Clear any obstructions from your clothes dryer vent. This will aid in preventing fires and limiting the amount of time needed to run your dryer.
Remove debris from rain gutters and window wells. The Central Valley has experienced quite a bit of rain this spring and it would be a good idea to have the debris removed.
Sweep your chimney.
Clean the area around the refrigerator motor. Many people often neglect doing this – make sure you are also cleaning back behind the refrigerator as well.
Take these small measures: washing the hinges on your doors, adjusting the knobs, checking the weather stripping, etc. Just give your home an overall check – these little “honey-do” items can go a long way in the performance and longevity of your home!

If you have any questions in regards to real estate, please feel to call me or send me an email. Thanks for watching!

Consumer Confidence is Raising Home Prices

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Wed, 14 May 2014 14:47:00 -0700

Today I will be discussing an article I read on Yahoo (find it here). The authors surveyed over 1,000 markets and came to the conclusion that home prices are skyrocketing.

I get the feeling that this is not just happening here in Bakersfield, but all over California. The article said that over 40% of home owners are going to list their home at a higher price when they sell. I would caution you not to price your home too high, but you can feel safe in escalating your price just a little bit.

This is exciting news for home owners and agents like myself, and 52% of the people interviewed for this article attributed this rise in prices to increased consumer confidence. This is great news for the national real estate market.

Hopefully this information has been helpful to you if you're planning on selling your Bakersfield home this summer.

If you have any questions about this topic or would like to contact me, please do not hesitate to call or email me.

Thanks for tuning in!

Magic Property Management of Bakersfield

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Mon, 21 Apr 2014 11:48:00 -0700

There are many great Bakersfield area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (661) 832-2355 for a FREE home buying or selling consultation to answer any of your real estate questions.

Magic Property Management

My name is Janel Sanchez and I would like to take a moment to tell you about Magic Property Management, which is a division of RE/MAX Magic. Magic Property Management was started in 2009 by Debbie Banducci in Bakersfield, California. The professionals at Magic Property Management have lots of experience and understanding with Bakersfield property management and real estate to eliminate the various hassles of finding your new residence.

Some of the reliable services that we offer are:

professional marketing
property inspections
tenant screening
24/7 emergency on-call support
owner portals
accurate accounting

Our proficient management team is knowledgeable in a myriad of management elements, including code enforcement, landlord/tenant rights, tenant retention, marketing of turned units, and construction. We work energetically and industriously to bring the best service possible to you and your clients.

If you would like more information about how we can assist you, then please feel free to give me a call at (661) 735-1511 or just visit www.magicpm.com

Get Your Home Ready to Sell with Curb Appeal

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Thu, 27 Feb 2014 14:53:00 -0800

There are many great Bakersfield area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (661) 832-2355 for a FREE home buying or selling consultation to answer any of your real estate questions.

With spring approaching in Bakersfield it's time to start thinking about how to prep your house for sale in a crowded market. Obviously the best thing you can do to sell your home is have it priced correctly, but today I am talking about curb appeal.

People Do Judge a Book by Its Cover

When someone pulls into your neighborhood to look at a home they begin judging before they even walk in the door. Your home not only needs to look great on the inside, but also from the outside. Don't forget that your home's exterior is what gets buyers in the door!

Make the yard as clean and neutral as possible, but add color too. Fix your sprinkler system, trim your grass and hedges, and plant flowers (even if you don't want to). Remove any cars from the driveway if possible.
Add Lighting Everywhere: Turn on your porch lights and let your home shine! If people cannot see your property, they will likely not buy it.
Make sure your home smells nice: Although it's not a pleasant topic, your home should smell as neutral as possible. Refrain from cooking with odorous ingredients like curry or cabbage. If you're a smoker, do not smoke in your home. Also, remove any pet odors or stains. You don't want your buyers to smell anything, not even pleasant odors.
De-personalize your Home: Your home should not be imparting your values or beliefs on to your buyers, so be sure to remove photos, posters, or artwork. Let someone imagine how they would live in this home. Plus, if you've already decided to move, it's best to get the clutter out of the home anyway.

The key with prepping your home for sale is to neutralize it as much as possible. Don't project your lifestyle onto your buyers.

These are just a few things that I've thought of, but contact me if you need any help prepping your home for sale in Bakersfield. You can reach me at (661) 617-4434 or email me at DBANDUCCI@BAKERSFIELDMAGIC.COM

Learn to compete with savvy home-buyers in Kern County

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Tue, 4 Feb 2014 07:52:00 -0800

Kern County is seeing a large influx of listings coming onto the market. Foreclosures also appear to be declining, but are not totally out of the equation. The good news is that there has also been a large increase in home construction.

What this means for buyers in the market:
Home inventory levels are higher than usual, so buyers are able to picky when choosing a house.

What this means for sellers in the market:
While you're gaining equity right now, your home could sit flat on the market if the pricing is incorrect. Because of a shortage in housing, sellers mistakenly thought that they could ask for any price, and desperate buyers would pay. However, this is not the case. Buyers have become much savvier with so many resources on the internet like Zillow or Remax.com, and they are making their own comparisons and prices. Buyers are now able to gauge prices based off of new construction, current listings, and what features they find valuable in a home.

Bottom Line:
Pricing is key to get the most money for your home in the current Bakersfield real estate market.

Keep Your Home Safe While on Vacation

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Mon, 2 Dec 2013 10:41:00 -0800

With Christmas fast approaching, you might already have vacation on your mind...so I wanted to share with you on this little video clip my favorite safety tips. In fact, I have multiple critical steps to prepare your home for safe keeping while you're away, to keep your nest safe and secure.

This is exactly what I did to prepare my home while I'm on vacation:

The best way to keep your home safe in your absence is to make it appear you are home, leaving absolutely no clue you're actually away. Light, time and noise are your greatest weapons to accomplish this. Follow these tips to ready your home and keep it safe:

- Ask someone you know and trust to keep an eye on your house.

For short trips, ask one of your neighbors to pick up your mail and your newspaper. If you are going to be gone longer, however, be sure to stop by the post office and have your home mail delivery stopped until you return.

Be sure to provide neighbors, friends and family members with emergency phone numbers so you can be reached quickly. It's a good idea to leave a spare house key with a relative or neighbor as well.

- At least a couple of weeks before you leave for vacation, decide what to do about your pets. You may want to have a friend or neighbor stop by each day to provide food, water and exercise. Or you may want to hire a professional pet sitting service or take the pets to a reputable kennel. This decision should be made well in advance so that proper arrangements can be made.

- Use timers on lights, televisions and radios to provide sound and illuminate the inside of your home.

- If you still have a home phone, change the setting on your answering machine so it picks up on the first or second ring—or just turn down the ringer. A constantly ringing phone is also a good sign no one is home.

- For long absences, you may want to turn off the main water valve. This will help avoid problems with frozen pipes in winter and leaking pipes in the warmer months as well as other plumbing issues.

- Keep shades up and blinds and curtains open to make it appear you're home.

- Keep bushes and shrubs near your home's entrance and walkway well trimmed. This will eliminate hiding spots for burglars.

- Keep the outside of your home well lit. Burglars won't go where they can be seen.

- Ask a neighbor to park in your driveway, occasionally moving his or her car indicate your coming and going.

- Leave the air conditioner on. A silent compressor on a hot day is a good indication you aren't home.

- Have the lawn mowed by a friend or lawn service if you are away longer than a week in the warmer months.

- This one is tough for those addicted to Facebook but posting to Facebook where you are at all times you are not only sharing this with your 'friends'. Those posts and photos allow others to find out when you are away and where you are. This isn't as concerning when you are local as you could post a comment or photo as you are ON your way home or just arrived but when your are, say, at Disney World, those with ill plans regarding your trip away from home.

- Be sure to turn down the temperature on the hot water heater and unplug televisions and other appliances. These appliances will be drawing electricity whether they are on or not. Unplugging them will help lower your electric bill.

- Turn your thermostats down (or up) before you leave. There is no reason to spend money heating or cooling the home when you are not there.

- Don't forget about the plants. If you are having a friend or pet sitter care for your pets, ask them to take care of your plants as well. Simply soaking the plants with water before you leave is not enough. A better idea is to create a self watering system if you cannot have someone care for the plants. For small plants, make a self watering system by filling a plastic container with pebbles. Then fill the bottom of the container with water. This allows the plants to slowly absorb the moisture they need, without the danger of their roots becoming waterlogged. Larger plants can be mulched with a damp towel or newspaper to prevent the loss of moisture.

- When the day to leave for vacation finally arrives, try not to make that departure too obvious to those passing by. If you have a garage, be sure to pack the car with the garage door closed. If you do not have a garage, you may want to pack a couple of items a day in order to avoid broadcasting to the world that your home will be unoccupied.

- This last tip isn't a security measure for your house but for your credit (you know I always care about that as well) as you need to keep a tight check over your credit in order to purchase or refinance your home!

With all the excitement of the upcoming trip we sometimes get carried away, plan only for the trip and security of our home for while we are away and leave for our stress-free trip. But wait!! You suddenly realize the day before you return the date! You've missed your mortgage payment, car payment, credit card, and utility due dates by a week or more! This happens more than I'd like to hear and the credit company doesn't accept this as a viable hardship excuse. :-) So ensure you plan ahead. Go on and sit down to make all the payments needed to be made in advance before your trip and all those due up till a few days after your return for good measure to ensure you don't get tied up with the return home and forget this very important task to protect your credit rating!

As you can see, there is a lot to think about before you jump in the car or on a plane for vacation. Use this checklist as a way of bringing peace of mind to you and your family. Enjoy your vacations without worrying about the safety of your home while you're away.

Should You Sell During the Holidays?

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Mon, 18 Nov 2013 15:23:00 -0800

Traditional school of thought dictates that selling a home during the holidays is a bad idea. People are busy celebrating with their families and will hardly go shopping for a home, right? Not so! There are numerous advantages to listing a home during this season and below are ten great reasons to put a home on the market now.

More serious buyers – Less time wasted

These are people who are interested in buying so there is a far greater chance of actually selling the property. Nothing is more promising to a seller than a motivated and qualified buyer that knows what they want and is actively seeking to get it.

Fewer Homes On the Market

The less competition there is, the higher the chance there is for homes on the market to sell. Where during the peak season sellers might be dealing with some interest from buyers on their home, nonetheless there is more selection for buyers to choose from and they can stray to another property.

In January Inventory Increases – Chances of Selling Decreases

With so many homeowners assuming the holidays is a taboo time to sell there is a plethora of new listings in January, resulting in a diminished chance of your home selling. Also, there is a risk that the price you may receive on the home can be less.

Decked Halls Look Great!

Homes are very appealing to prospective buyers when they are decorated for the holidays. With all the festive décor, lights, greenery and added beauty of the season – the home shows very well and attracts buyers faster than if shown during other times of the year.

More Time To Browse Homes

Buyers have extra time off from work and are on vacation, which translates to a more aggressive buying pattern and more chances of your home being viewed.

More Emotional Buyers

Because of the high stress of the holidays, buyers tend to be more emotional during this time than in the summer months. A more emotional buyer will tend to pay more for a new property, so selling your home during the holidays could make you more money.

Show The Home With Flexibility

Sellers that have their home listed prior to the holidays have the added advantage to be able to “pause” the process so they can celebrate the holidays, essentially not showing the home during a period of time during the break. When the festivities die down, things can pick up again and the seller has not only managed to save potentially lost time but can also jump right back into the market.

Transferred Employees

January is typically the month where employees are transferred into new position. In order to capture this demographic of buyers, your home must be on the market since these buyers cannot wait until the spring to buy.

Sell Now For More Money Then Delay Closing

Extended occupancy can be negotiated, leaving both parties the leniency to get through the holiday season and past the New Year so that all sides can rest assured the deal is done but it can follow through at a more convenient time. For sellers this option is great because they are able to secure a higher selling price on the property before the market is inundated with new listings come January when the selling values drop.

Fewer Foreclosures On the Market

Many banks will suspend foreclosure listing during this time of year, especially on properties where there are still families occupying the home. As a result of this, some of the competition that arises for sellers from low-priced foreclosures can be avoided during the holidays.

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Keep in mind that the idea of your home’s value increasing significantly over the next several months is a myth. The truth is that housing values likely only go up when consumer income rises. Pay rates increase at a rate of three to five percent each year and that is
about the maximum yearly increase we can expect to see in a home as well. So if you are wondering whether or not to put your home on the selling market now, or to wait – one important factor is that waiting will not provide much benefit.

Advice on Foreclosures

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Wed, 23 Oct 2013 11:40:00 -0700

What do I need to know about shadow inventory when it comes to foreclosures?

In this case, shadow inventory refers to real estate properties that are in foreclosure and have not been released onto the market. What we are seeing are homes being released in batches. I don’t expect there to be a huge rush of homes at once.

In some cases there are homes that have been in default for 3-4 years. Some people are even paying rent to live in their property through housing programs.

Is there any advice you’d give to someone who is thinking of foreclosing?

Foreclosure should be your last option. If you or someone you know is thinking about foreclosing, call us immediately. There are several different options you can choose from and we can help guide you in the right direction.

Is there any advice you’d give someone who wants to purchase a foreclosed property?

It’s important the buyer does his/her due diligence; get the home inspected. Properties range in price and condition.

Hire a seasoned agent to help you in the process.

If you have any questions, please give me a call at 661.979.7388. Thanks for watching!

How Interest Rates Affect Our Market

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Thu, 10 Oct 2013 12:16:00 -0700

Welcome to my video blog. I’ve had a few question about interest rates and thought you might have the same questions.

How is the recent rise in interest rates affecting the real estate market in you area?

I haven’t seen any dramatic changes. We still have a lot of demand for homes out there. Buyers also know that, despite the increase, rates are still phenomenal and historically low. I haven’t seen any buyers get out of the market because of the rise.

What would tell someone who is on the fence or waiting for interest rates to go back down?

It’s still a fantastic time to buy. We aren’t sure exactly what interest rates will do, but they shouldn’t be the only determining factor when deciding to buy a home. Home prices are also historically low and we expect those to increase.

If interest rates do go down, you can always consider refinancing.

If you have any questions about buying or selling or refinancing, please give me a call at 661.617.4434 I would love to help you with your real estate needs!

Thanks for watching!

5 Ways You Can Boost Your Credit Score So You Can Buy the Home of Your Dreams!

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Thu, 20 Jun 2013 09:41:00 -0700

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Has your credit score gotten out of control? Are you in the market to buy a home but your credit score is too low? The truth is that many Americans find their credit to be inadequate once they end up in a meeting with a loan officer to discuss buying a home. Whether first-time buyers or long-time veterans of the home buying process, your credit score must meet some minimum guidelines in order to qualify for a mortgage.

It does take some time, but with some effort, diligence and responsibility – you can get your credit back on track and be well on your way to owning a home. Here are five easy-to-follow tips that can boost your credit score fairly quickly.

Pay Your Bills On Time

This one may seem obvious but many borrowers have no idea just how much paying on time positively impacts a credit score. Likewise, the damage done when you don’t pay bills on time is hard to repair. The best way to ensure things get paid on time is to set up automatic payments or utilize the myriad apps out there designed to make you remember. Use your Google calendar, sync it with your smartphone, print out a bills chart – whatever it takes, don’t forget to pay your bills on time!

Keep Balances Low

A common misconception about credit health is that there are no penalties if a borrower charges credit cards close to the maximum credit limit. On the contrary, lenders and credit experts suggest keeping your balances as low as possible. This demonstrates your use of the card responsibly. Remember, unless you have the funds to pay those balances back it’s best not to charge large balances in the first place. Work toward paying off balances in the order from highest to lowest balances for the maximum benefit to your credit score.

Be Careful When Opening New Accounts

Opening and closing accounts creates a negative impression to the credit powers that be. The red flags caused on your credit profile can harm your ability to borrow now or in the future. It is much better to obtain and keep just a couple revolving credit accounts open and then use them to the maximum efficiency. If you’re concerned that there are inaccuracies on your account, check with all three credit-reporting agencies (Equifax, Transunion and Experian) to request a free copy of your report so you can clarify any errors.

Limit New Credit Inquiries to a Small Window of Time

A number of inquiries within a small window of time are treated as a single inquiry. When shopping for a mortgage or even an auto loan, a good practice is to entertain as many quotes as you like within a short window of time. Credit agencies know and recognize that consumers need to shop around for the best rates but when you have inquiries that are all over the map and spanning months, not weeks, it can hurt your credit score with each inquiry.

Always Handle Your Credit Responsibly

It goes without saying that your credit outlook is probably the most important thing for your financial health and well being. It is critical to handle all financial transactions responsibly so that when you are ready to buy a home or a car or anything else that requires a strong credit outlook, you are armed with a great record! The old adage “one step up, two steps backward” holds true when it comes to making a mistake on your credit report and trying to get it repaired.

Establishing a good credit history is a good habit if you want to get a great rate on a mortgage or other loans. If your credit is a concern, we can connect you with one of several lender partners we work closely with. And they will gladly work with you to rectify specific concerns. Regardless of where you are in the process, we welcome your calls and visits if you are interested in buying or selling a home.

Now is the Time to Sell

debbiebanducci@bakersfieldmagic.com (Debbie Banducci) — Thu, 23 May 2013 10:21:00 -0700

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Would you like to get multiple offers when you put your home on the market? That’s what we’re seeing. Buyers are outbidding each other, and some are spending more than what the home is listed for! No surprise because there are fewer homes on the market than a year ago.

Beyond multiple bids, home prices are rising, which is a sign of a surging market. When the supply goes down, it helps push prices up, so prices are solid across the board and we’re hearing a word we haven’t heard for a while—equity.

What does this market mean for sellers? If you’ve thought of selling your home, the time is now. Since there are fewer homes on the market, there’s more competition for available homes. Low inventory often translates into multiple bids, high list-to-sale price ratios and being able to negotiate better terms. It’s a great time for sellers.

So what does this mean for buyers? Buyers are entering a competitive market with multiple offers. The key? Be aggressive. When a home that you’re interested in hits the market, plan to see it as soon as possible and make the best possible offer that’s at an appropriate price point for the seller. Remember, inventory is low. If you hesitate, the property could be gone because others will be making offers. New construction, of course, is another great option, and today it’s taking about six to 12 months to build a home.

Keep in mind that mortgage loan rates are extremely low, which makes buying a home more affordable than ever, but the rates won’t last forever. Interest rates are still below 4% with some as low as 3% for a 15- or 20-year fixed-rate mortgage. If you wait and interest rates rise, you could get locked into spending a few hundred extra dollars a month on your payment.

Give us a call so we can tell you where to be positioned and how to be successful in this market. Please contact us at (661) 979-7388 or email us at dbanducci@bakersfieldmagic.com.