Fresno Real Estate Video Blog with Benjamin Martin

Why Are First-Time Buyers Waiting Longer?

2015-08-28T13:51:00.002-07:00

There are a variety of opportunities in the Fresno real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

One thing we know for certain about the real estate market is that it is never going to stay the same for long. Today we want to talk about an interesting trend we’ve noticed in real estate: millennials are waiting longer to purchase their first homes than their parents did.

The typical first-time buyer now rents for an average of 6 years before buying a home, which is up from 2.6 years in the early 1970’s, according to Zillow.

We came across a great video on the topic from CNBC. To save you some time, I will give you my three biggest takeaways from the article.

1. Down payments are a huge factor

Renters in today’s market are struggling to save for down payments and qualify for mortgages. Most first-time buyers still depend on personal savings for at least some of their down payments, but rising rental prices have complicated the task of socking away money for a down payment.

2. Rising rental rates are complicating things as well

Rental rates are causing 46% of renters aged 25-354, to spend more than 30 percent of their incomes on rent, up from 40 percent a decade earlier.

3. Job security is important to millennial buyers

The Money Source, a mortgage lender, examined applications from 5,404 millennial buyers and found that these buyers averaged nearly 4.5 years in their field of work and had held their current job for slightly more than three years. Those figures point to how critical career stability is to a younger generation.

Thanks for joining me today. If you want to read the full article, click above. Otherwise, give me a call or send me an email if you have any questions. Talk to you soon!

Staging Doesn't Have to be Expensive and Complex

2015-07-16T20:48:00.000-07:00

If you are looking to sell your home, your goal is to get the most money possible in the shortest amount of time. One of the best ways to add value and appeal to your home is through home staging. You have a lot of options for how you want to go about it. You could hire a professional staging company, but that comes with a hefty price tag. Most of the time, a few simple fixes is all it takes to transform a living room.

Today we are going to go through some of our most favorite, inexpensive home staging tips or you. We hope these will help you save both time and money when it comes time to sell your home.

A fresh coat of paint is always a good idea. Neutral, warm colors work best for highlighting the natural light in your home. This will make it easier to punch up the room with some colorful accessories and pull everything together.

A common design problem facing many homeowners is that they have no real entry way, as their front door opens up to the living room. To fix this, you can add a table, some lighting, and a rug to "fake a foyer" and make it feel like the living room and entryway are two different spaces.

A patterned rug, some pillows, or bright curtains add a ton of texture and an eclectic layer to the space, which is essential to a well-designed room.

In some cases, a "make-under" is just what you need. In the case of most fireplaces, taking some accessories and clutter away enhances the look and feel of the room greatly.

You could spend well over a few thousand dollars with a staging company, or you could do these fixes yourself for around $500. That's a small investment considering the value that you add to your home by adding those pieces.

If you have any questions for us about staging your home or anything else real estate related, give us a call or send over a quick email. We are always here to help, and would love to hear from you!

Should You Consider Selling in Fresno?

2015-05-26T07:36:00.000-07:00

Hey everyone, thanks again for taking the time to check out my blog. I recently got an email from a client who had been hearing rumors and asked me, "Is now a good time to sell? Or should I look at renting my home out?"

The short answer is that now is absolutely a great time to sell. We still have low interest rates that are exciting for buyers, and very low inventory (2.5 months) which is creating bidding wars for many of the seller's homes out there on the market.

In the near future, I predict rates as well as inventory to slowly rise. This will cause a decrease in prices.

They always say sell at the top and buy at the bottom, so here's my advice: Sell today because we're at the top.

If you have any questions for me, you can always give me a call or send me an email. Talk to you soon!

Where Are Interest Rates Heading in 2015?

2015-05-12T13:49:00.002-07:00

Hey everyone, thanks for joining us once again. I've been getting a lot of questions lately from buyers about interest rates and how to get the best one. Today, I am going to explain exactly what you need to do to get the best possible interest rate for your home.

The first thing to know is that the lender doesn't set the interest rate, it's the Federal Reserve that dictates the type of rate you can get. Fortunately for you, rates are still at historic lows and it's a great time for you to take advantage of them.

Now you need to choose the right lender, Gene O'Brien. Gene is our preferred lender, and will help you in securing a low, low interest rate. When you first meet with Gene, you'll need to bring him a few things. In addition to your last 2 paychecks, you will need to bring him your last 2 tax returns, last 2 bank statements, and social security number.

With that information, Gene will be able to take a look at you as a borrower and give you the best information so you can secure the best rates. If you aren't quite ready to buy yet, that is just fine. We also have a coaching program for prospective buyers that will help you get ready to buy, both mentally and financially.

If you have any questions for us, we are always here to answer them. Give us a quick call or email, and we look forward to speaking with you soon!

What Should Fresno Buyers and Sellers Know?

2015-04-06T12:50:00.003-07:00

Today we have great news, for both buyers and sellers in Fresno, from the Benjamin Martin Team.

For buyers: We have a ton of listings coming onto the market and would love to show you them. If you are looking for a home, give us a call. We have a ton of great new homes on the market we can show you if you want to take a look at some great properties.

For sellers: We have thousands of buyers in our database actively looking for homes right now! If you are on the fence about whether you should buy or sell, now is the time. The buyer demand is so high for homes, it doesn't make sense not to take advantage of the market.

If you have any questions for us, feel free to give us a call or send us an email. We look forward to speaking with you soon!

The Most Important Part of Homebuying

2015-04-01T14:59:00.002-07:00

Today I am going to be speaking briefly about some things that you need to be wary of when you buy a home in Fresno. One of the biggest concerns you may have from the beginning is choosing a competent real estate team. This really makes all the difference when you're going to buy or sell a home. You need someone that will communicate effectively throughout the transaction, and someone who has a good amount of experience in our local market here in Fresno.

Inspections are important, and so is financing, and these all make major differences in a transaction, but I really cannot stress enough how important it is to find a good real estate agent to assist you. In a competitive market such as the one here in Fresno, you will need as much help as you can get. We want to provide you with the highest level of confidence, and want to provide you with the best real estate experience possible.

If you're looking to buy or sell in Fresno, please do not hesitate to contact me. I'm always here to help!

What's the Difference Between a Realtor and a Real Estate Agent?

2015-03-16T12:48:00.000-07:00

Recently, I had a discussion with a client about the differences between a Realtor and a real estate agent or broker. There is an important distinction between the two, and I thought now would be a great time to give you all an explanation on the topic, so you know for future reference.

The truth is, all Realtors are either real estate agents or brokers, but not all brokers or agents are Realtors.

Every person who wants to get a real estate license needs to complete a certain number of hours and take certain tests in order to have the designation of a licensee. When you pass the test, there are certain requirements that you, as an agent or broker, need to fulfill. As a real estate agent or broker, you are required to:

Put your clients' interests above anyone else's

Keep your clients' information confidential

Obey the clients' lawful instructions

Report any useful knowledge or info to the client

Account to the client for any money involved

Realtors are held to an even higher standard, through membership with the National Association of Realtors and respect their code of conduct. Anyone who decides to become a Realtor also decides to take their clients' experience to the next level.

When you go to hire someone to buy and sell your home, it's important that you choose someone who is the most dedicated to your success, and that will always be a Realtor. The great thing about our team is that all of our agents are licensed Realtors, who are dedicated to your success as much as you are.

If you have any questions for us, we'd be glad to answer them. Just give us a call or send us an email, and we'll be in touch!

Is the Springtime the Best Time to Negotiate a Fresno Home Purchase?

2015-02-24T14:29:00.000-08:00

Hey everyone, today we are talking about a question we often get from home buyers. There is usually a lot of uncertainty in people when it comes to the real estate market, but don't worry, we've got you covered. There are 3 reasons that the spring is the best time to negotiate a purchase here in Fresno:

More inventory
Less Buyers
Fantastic Rates

When you combine these 3 factors together, you get a perfect recipe for buying in Fresno. Interest rates are expected to rise in the next year, so locking them in soon is especially important if you want to save money on your home.

If you have any questions for us, feel free to give us a call or send us a quick email. We would be happy to help any way we can!

Here's How to Increase Your Fresno Home's Value

2015-02-06T10:29:00.000-08:00

Recently I got a question from a seller about what they can do to get their home ready for sale. Today, I have a list of 47 different things you can do to get your home sold quicker and for more money. If you'd like a full copy of the list, just give me a call or send me an email and I will get one right out to you. To save time, I'll just let you know a few of the tips from the list that I think are most important.

Get as much light in your home as possible. Start with natural light by opening the curtains and blinds. Then get some high wattage light bulbs to really brighten up the room
De-clutter by removing personal items and photos from your home.
Deep clean your home. That means dusting, vacuuming, polishing furniture, the works.
Get some nice smells going in your home. Bake a pie or spray some air freshener, but be careful not to over-do it.

If you want to sell your home, you need to make potential buyers feel comfortable and help them see themselves living in your home. Again, if you'd like a copy of the full 47-point list, give us a call or send us an email. We look forward to hearing from you soon!

What are the Advantages of Hiring a Buyer Specialist?

2015-01-12T15:30:00.001-08:00

Today we want to talk to you about the importance of having a dedicated buyer specialist when you decide to purchase a home. We are going to give you 3 reasons why you need to hire a buyer specialist like ours when purchasing your next home. Here they are:

1. They know the inventory
Buyer specialists know the inventory in and out. They study it all week long, viewing properties and keeping an eye on inventory levels. They know which homes are the best and which ones you should avoid.

2. They have the time
All they do is show properties. When you are ready to look, they can take you out to whatever home you want to see, based on what you are looking for and what's available in the market.

3. They know how to make an offer
When it comes time for you to write an offer, buyer specialists are expert negotiators who are looking out for your best interests. Most sellers have listing agents negotiating for them. Don't you want to be in the same position as a buyer?

There you have it, 3 great reasons to hire a buyer specialist for your next home purchase. If you have any questions for us about buyer specialists or about real estate in general, be sure to give us a call or send us an email.

Is your Personality Hurting your Home Sale?

2014-12-18T15:53:00.001-08:00

Everybody knows someone who really likes to show off their personality through their home. Flashy furniture, art, and decor can give a home a really unique feel. However, if you are trying to sell your home, your personality may be the exact thing that is preventing the sale.

Here are 5 quick tips to help you neutralize your home and make it more attractive to buyers:

1. Remove personal items
Take down family photos, heirlooms, diplomas, and other personal items- buyers don't want to feel like they are in somebody else's home, they want to see themselves and their family in the space.

2. Repaint
You need to repaint any rooms that have too much personality or bold colors. Having rooms painted in bright, neutral colors makes it more appealing and warm to potential buyers.

3. Show rooms how they are supposed to be used
If your home office is your dining room, or your garage is your bedroom, you need to fix that. It may work for you and your lifestyle, but will certainly scare buyers away.

4. Clean windows and blinds
You wouldn't believe how much it helps your home to be bright, airy, and beautiful for buyers.

5. Detach yourself emotionally
When you decide to sell, your home is no longer your home, it's an investment, and needs to be viewed as such. Being overly emotional during the selling process could inhibit the sale and could cost you thousands.

There you have it, our advice to help get your home sold faster and for more money. For more great tips on how to sell your home, call us right away. Thanks, we look forward to hearing from you soon!

What am I Thankful for This Year?

2014-11-20T07:57:00.001-08:00

November is here and the Thanksgiving holiday is upon us. I just wanted to reach out to you all today and let you know all the things I am thankful for this year. If you get a moment, I would love to hear your list as well. Send me an email with the things you are most thankful for!

The biggest thing I am thankful for this year is my beautiful wife of 15 years. Without her, I wouldn't be where I am today. She constantly pushes and motivates me everyday to be the best person I can be.

I am also very thankful for my 3 wonderful children, Brennan, Emma, and Brody. They are truly blessings and it is so fun to watch them grow up. They bring so much joy to my life.

I am thankful for our military, and all those who serve us overseas. I am so thankful for those people who have allowed me to enjoy the freedom that our country offers.

I am also thankful for my parents, who taught me I can do whatever I set my mind to.

Finally, I am most thankful for God, who continues to bless me every day. He leads me in the right direction, and continues to bless me every single day.

I would love to hear what you are thankful for . Send me an email and let me know. Have a very happy Thanksgiving, I look forward to hearing from you soon!

How Do You Know if a Contract Is Valid?

2014-10-29T13:54:00.003-07:00

The real estate process can be a confusing process. Without any background in real estate, it may be difficult to tell a bad contract from a valid one. Luckily, we're here to help you get a better understanding of the process. Today, we discuss how you can tell whether a contract is valid. Here's what you need to look for:

Beginning and end date
Whether the buyer is pre-approved
How much money the buyer is bringing to the table
Whether the buyer pre-approved
That you're not tied down

This is a very general list of what you need to be aware of before you sign a contract in a real estate transaction. It's never a bad idea to have a real estate professional by your side to help guide you through the process. It's our duty to protect our clients, so you can be sure you aren't signing anything that may hurt you in a deal.

If you have any questions on this, or any other real estate topic, don't hesitate to give us a call or shoot us an email. We want to be your number one Fresno real estate resource!

Are You Prepared for This Halloween?

2014-10-24T08:48:00.000-07:00

Halloween is just around the corner, and there is no better time to start getting ready for the festivities. If you want to maximize your opportunity to have a lot of fun this fall, check out these 4 simple tips:

Decorate your door: You want to make sure the kids feel the excitement of Halloween when they come to your door.
Put some lighting out: Use oranges, purples, and greens to really set the tone. If you're feeling extra festive try adding a smoke machine!
Don't forget the candy: Make sure you get plenty of candy, so all the kids can have two pieces and maybe even come back for more.
Make it fun: Dress up and wear a costume when handing out candy! Don't be too shy to take part in the fun.

Halloween is one of the funnest holidays and these tips should help you to make the most of it. As always, if you have any real estate related questions, don't hesitate to reach out to us! We always look forward to hearing from you.

Have a safe and happy Halloween!

Fresno Real Estate Market Update for Fall 2014

2014-09-30T11:25:00.001-07:00

We are in a very healthy real estate market right now in Fresno. Whether you are looking to buy or sell a home, this market is right for it. Now, there are many factors that go into that. For example, our current inventory of homes for sale in Fresno is right around 2000. At our current rate, we are selling between 450-500 homes a month. However, homes are coming onto the market at a much faster pace. Our current rate of homes coming on to the market is around 550 per month.

With our incoming inventory outpacing our sold homes each month, our days as a seller's market are numbered. Right now is a great time to sell because at 4.5 months of inventory, we are still below the threshold of 6 months that classify this as a seller's market.

For buyers, immediacy is also key. Interest rates continue to remain at historic lows, but are expected to rise in the next year. Securing a loan at these current low rates will save you thousands over the life of your loan. The more the rate goes up, the less you will be able to afford.

Waiting too long to buy or sell could hurt you. Supply is exceeding demand right now, and when it catches up, it's going to be much tougher to sell. Waiting to buy could also have dire consequences, in the form of higher interest rates.

If you have any questions about the Fresno market, or about real estate in general, please give us a call or send us an email. We'd love to discuss your options with you!