San Diego Real Estate Podcast with Dale Downing

How to sell your home during a pandemic

cassidy@getvyral.com (Dale Downing) — Tue, 2 Feb 2021 07:37:00 -0800

Throughout the pandemic, here’s how we’ve been helping home sellers succeed

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It was surprisingly easy.

Most sellers, assuming the home is occupied and not vacant, do not want a lot buyers

traipsing through their home during a pandemic – so that meant no open houses and no

lockbox on the front door so agents could show the property as they please. We had to

improvise. So how did I do it?? It was really easy. I’ve been selling my listings in this way for

years.

“

With my strategy, sellers are only

inconvenienced for a two-hour window.

”

I use an MLS feature where you can put a property for sale weeks before I actually hits the

market. Now, if the seller and the agent have properly priced the home (slightly below market

value – the lower you price your home the more money you will get – will discuss in another

newsletter/video), and have proper marketing (again a later video/newsletter), networking,

phone calls, letters, emails and texts there should be enough interest in the property the day it

goes “live” on the market.

The key is – only have the home available for showing during a 2 hr window on a Saturday

e.g., 2-4 pm. This does one thing extremely well; it creates urgency – everyone arrives at

once so the buyers know they are competing and this will naturally drive up the purchase

price without us have do a thing. Also, the sellers are only inconvenienced for a 2 hr. period.

Low inventory has helped a tremendous amount also.

If you have priced it properly and know how to select the right offer and agent (this is a real

skill and should not be underestimated), you should be in escrow Monday morning.

How to get your offers accepted in 2021

cassidy@getvyral.com (Dale Downing) — Fri, 15 Jan 2021 12:02:00 -0800

Here is a 7-step guide to getting your offer on a home accepted in 2021’s market.

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With interest rates at an all time low and demand at an all time high, purchasing a home can

be almost impossible even if buyers are well qualified, motivated and have a real estate agent.

The problem is they have the wrong agent. 2020 was incredibly hard for buyers to purchase

homes, yet I got everyone one of my buyers the exact home they wanted, 100% percent of

the time. So how did I do it? Why did they choose my client’s offer over the other 5,10,15

other offers? It’s actually quite easy….

1. Buyers have to be totally committed to buying – meaning they are pre-approved and

ready to see any home within 24-48 hours after it hits the market. The homes sell fast. It’s a

race and sometimes and very often the first offer, especially during Covid, gets the home.

2. I submit with the offer, the pre-approval letter, proof of funds and a personal letter from

the buyer (the personal letter will be specifically tailored to each seller).

“

Write your best offer right out of the gate and immediately.

”

3. If the buyer has the means, a larger than normal Earnest Money Deposit shows how

committed the buyers are to following through with the purchase.

4. We shorten up some of the contingencies periods and inspection times (contingencies

run from 17-21 days which is about a week too long).

5. Write your best offer right out of the gate and immediately. You may not get a chance

to raise your price if there are several offers.

6. Look below your maximum purchase price range. If your max purchase price is 500k

then you should only be looking at homes with an asking price of 475k and lower. This will

allow you to go up to 500k to get the house. Most buyers look at their max price, which is a

big mistake, because they have no room to negotiate.

7. Let me do the rest…I’m going to call and present the offer in person or on the phone in

a professional manner (18 years of real estate experience has taught me what sellers and

listing agents like to hear from buyers agents). The offer written will not have any mistakes.

I will give the agent a background about my buyers and myself.

If all this is done correctly you should have no problem owning the home of your dreams.

Real Estate Crystal Ball

cassidy@getvyral.com (Dale Downing) — Fri, 24 Jan 2020 09:36:00 -0800

Friends and Clients —

My name is Dale Downing and I’m a Realtor with Realty Executives Dillon. I’d like to thank you for subscribing to my newsletter. Before we get started, if you are interested in seeing what your home is worth as of today, click here. If you would like to browse all the homes available in the county for free without getting spammed from hundreds of Realtors, click here. Now, let’s get started.

The two most frequent questions I get asked by far is, “What do I think the market is going to do this year?" and "Do I think there is going to be another crash?”

Based on everything I read, watch, and hear, I confidently say that absolutely no one knows for sure. But, the general feeling from “experts” is that it is going to remain relatively the same over the next few years. This means a steady increase in prices due to a lack of inventory, demand, a strong economy, and low unemployment rates.

As far as the “crash” coming – NO. Buyers over the last decade have actually qualified for their home loans and they can afford their payment. With that said, can there be an adjustment? Sure. But no one knows when that may occur – one, three, five, or 10 years - none of the experts can agree.

Here is what I do know – SO PAY ATTENTION SELLERS AND BUYERS. As of today, and that’s what really matters, interest rates are ridiculously low (3.5%), the economy is humming, people are working, and the housing market is strong. Because interest rates are around 3.5%, you have a tremendous amount of buying power. If rates were to go up ½ to ¾ of a percent, your monthly payment would rise several hundreds of dollars per month ($300 to $800 a month depending on the size of your mortgage). So for buyers, it completely makes sense to buy now, because they have the ability to save tens of thousands of dollars on interest payments alone while also taking advantage of any appreciation you would get over the next several years.

*Quick side note for those of you renting: The average rental payment is increasing 3% per year--your landlords should thank you. Stop renting and become a homeowner today.

Have a great day,

Dale Downing

What Day of the Week Should You List Your Home for Sale?

cassidy@getvyral.com (Dale Downing) — Thu, 12 Dec 2019 09:45:00 -0800

We’ve pinpointed the perfect day of the week for you to list your home for sale.
Here’s what you need to know.

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When is the best time of the week to list your home for sale? Friday, Sunday or Wednesday?

So, you are probably saying to yourself the weekend is when the buyers/sellers out there are using the sites to look at and for homes? The weekend is actually the slowest. The busiest days according to some of the “big boys” (HouseCallRealty, Zillow, Redfin) are Monday through Friday from 9 a.m. to 5 p.m. with Thursday and Friday being the heaviest searched days of the entire week.

Now, most of these sites will put the most recent to the market listings at the top of their searches over homes that have been on the market for many days. So, if you’re trying to get the most internet views—and, let’s face it, everybody is literally glued to their phones with instant access to everything—then Wednesday is the best day for your home to go “live” on the market. It may seem like a minor tip, but it can be the difference in selling your home in 7 days as opposed to 40 days. The more views, the better the chance of receiving a quality offer.

So, if you’re interested in other real estate tips on how to get the most possible money for your home please contact me immediately and I will be glad to help you out.

On a side note: If you are in need of a fantastic full-service plumber that does everything right like a great contractor should, contact Eastlake Plumbing here.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at any time. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard it as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and a member of the National Association of Realtors.

Sell 75% Faster for 6% More Money

cassidy@getvyral.com (Dale Downing) — Thu, 17 Oct 2019 07:30:00 -0700

Would you like to sell your home faster and for more money? With staging, you can!

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According to the National Association of Realtors, if you properly stage a house you will sell it on average 75% faster and for 6% to 8% more money. What a great return on your investment!

There are two reasons why. Most buyers lack the vision of how and where to place their
furniture. Especially with the holidays fast approaching they will be able to see where to put their Christmas Tree, dining room table for Thanksgiving and so on. Second, if staged properly with the right size furniture the home will appear larger than another property that is sitting vacant with no furniture. Typically, the cost of staging a home costs around 1%. However, if you are realizing 6% more than you would get otherwise, your net is 5% more money. On a house that is $500,000 that is $25,000 in your pocket!

So, if you would like a free consultation please contact me immediately.

On a side note if you are looking for fun for the entire family, both kids and adults you need to visit Speed Circuit in Chula Vista (Eastlake), it’s a blast! Not only is there an amazing racetrack, but there is also a 13-element ropes challenge course, shuffleboard, golf simulator, music, and 30+ arcade games. They have group packages as well.

See the link below for details…

https://speedcircuit.fun/parties

So, Why Work With Someone Like Me?

cassidy@getvyral.com (Dale Downing) — Fri, 20 Sep 2019 14:49:00 -0700

If you’re thinking of buying or selling a home, you need
a professional, full-time agent by your side. Here’s why.

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There are approximately 22,000 to 30,000 licensed agents in San Diego county alone depending on which publication you believe. With that said, 90% are part-time and 90% of the home sales are done by the top 10%.

So, if you’re in the market to buy or sell why would you consider an agent who basically just passed a multiple-choice test, and not use a full-time professional realtor with hundreds of transactions under their belt? Because they’re your friends, cousins, or neighbors brother? Most agents do only three transactions a year. Let’s put it this way, would you go to a doctor or lawyer that practices part-time? Heck no. So why would you trust a part-time real estate agent on your largest financial investment you will ever make? Personally, I love dealing with these agents because I can manipulate and save my buyers or sellers thousands of dollars because these part-timers just want to get a check it’s not about what is best for their clients.

So if you are a buyer or seller and you have been referred to an agent give me a call and I will let you know experience level, how many transactions they have done, everything you will need to know to make sure your largest investment is handled by a professional. By the way, this applies to lenders as well.

You Need to Watch This Video

cassidy@getvyral.com (Dale Downing) — Wed, 12 Sep 2018 10:14:00 -0700

Discount brokerages/shops are becoming more and more common these days,
but today I’ve got an important message to share about their services.

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As many of you may know, the real estate market is changing. For those of you who have thought about selling in the next few weeks, months, or the coming years, you’ve likely noticed the impact of these changes first-hand during your preliminary research.

Discount brokerages/shops have been popping up all over the country and here in San Diego County. They promise dramatically decreased commissions and a quick sale. As someone who’s passionate about a great deal myself, I understand this completely.

However, what these brokerages don’t tell you is that discounted fees will also mean discounted service and ultimately the price they get for your property. You may save a few thousand dollars in commission, but the diminished level of service/marketing/contacts/negotiating skills will potentially cost you tens of thousands because it’s not what they do. True professional Realtors fight to get you as much money for your home as possible.

In the age of the internet, online services can serve as a convenient alternative to more traditional methods of securing goods or services. However, is the supposed convenience actually worth it when it means your bottom line will be drastically lower?

Online and discount services like these are driving home prices and values down all over the country and San Diego County which is why certain communities around the country are going so far as to try to ban them.

“

Are you really saving money with the
discount shops and online brokerages?

”

The bottom line is this: These services may initially sound like a good deal, but they’re actually very harmful to the industry and to your success as a seller.

Traditional, full-time agents like me will have the knowledge, experience, and track record you need and deserve when it comes time to sell your home.

When it comes to real estate, you get what you pay for. Don’t trust your success to a discount brokerage/shop that can only offer discounted results.

If you have any other questions or would like more information, feel free to give me a call. I look forward to hearing from you soon.

If you have any more questions about our market or you have any real estate needs at all, please reach out to me. I look forward to speaking with you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Your June 2018 Real Estate Market Update

cassidy@getvyral.com (Dale Downing) — Fri, 13 Jul 2018 13:33:00 -0700

Home prices are increasing, but inventory is shrinking in our San Diego market. If you are a buyer, buy now—do not wait any longer.

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Ok, so we’re halfway through 2018... so what’s happening in the market today?

1. New homes coming on the market are up about 4%, which is great for buyers but still lower than we would like.

2. Homes entering escrow are about the same—again, everything sells in San Diego.

3. Home prices have increased 6% - 8% depending on where you live in San Diego County, which is exactly what I said a year ago. And for you renters, if you were looking to buy a $500,000 house last year and decided to wait, you just lost $40,000 in equity.

“

Stop waiting to buy—there is not
going to be any major crash.

”

4. Total homes for sale is down about 2%—inventory is continuing to shrink and the number of days a home is on the market is continuing to shrink as well. This is great for sellers, but tough on buyers, but if you have a good agent/broker who can package your offer correctly, you will get a house.

5. Most activity seems to be with the move-up sellers and buyers—lots of activity for smaller homes/condos/townhomes and less competition for more expensive property.

So don’t waste any more time—move up. And you renters out there, stop missing out on $40,000 a year. Call me and I will help you. It’s what I do.

If you have any more questions about our market or you have any real estate needs at all, please reach out to me. I look forward to speaking with you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How to Get Rid of PMI and Save $200 - $400 a Month Today!

cassidy@getvyral.com (Dale Downing) — Wed, 13 Jun 2018 11:53:00 -0700

Do you have private mortgage insurance? If so, here’s something very important that you should know.

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I know a lot of you out there are paying for PMI (Private Mortgage Insurance) which can be as much as $400 a month. Private Mortgage Insurance is a premium you are charged because when you purchased your home you didn’t have 20% of the purchase price to put as a down payment. This protects the lender in the event you (borrower) stops making payments.

If you haven't noticed, housing prices have been on the rise for several years and many of you now have 20% equity -- And what a shock— your lender isn’t telling you this.

“

You can save yourself $200 to $400 a month.

”

You need to call me right away!! I will run comparables (comps) based on recent sales in your neighborhood and give you a good idea if you now have 20% equity which will potentially save you hundreds of dollars a month. If you do, contact your lender straightaway to have them run an official appraisal to validate your current equity and eliminate your PMI!! Start saving $$$$$$$$ today!

If you’re curious about this or have questions about the value of your home, don’t hesitate to reach out to me. I’m here to help!

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Should you accept an offer Contingent on the Sale of another Property?

cassidy@getvyral.com (Dale Downing) — Thu, 3 May 2018 12:15:00 -0700

In this competitive market, the first offer you receive is often going to be the best one.
Let me explain.

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Should you accept an offer Contingent on the Sale of another Property? Here are three different pricing scenarios that will help you answer that question.

1) If you’re selling a house that’s worth $500,000 or less.

Typically, in this situation, the answer is no. Ultimately it’s up to you, but my advice is to not accept a contingent offer here. The San Diego market is always scorching-hot and there are plenty of other non-contingent offers out there just waiting to be accepted.

2) If you’re selling a house worth $500,000 to $700,000.

In this scenario the answer depends on where the buyers are in the process of their own sale, so that’s a factor you need to pay attention to. If they haven’t listed their home for sale yet, you absolutely shouldn’t accept their offer. If their house has been on the market for 30 days or more, you should also decline their offer— it’s likely overpriced. If their home is under contract—meaning they’ve accepted an offer and they’re currently in escrow—and they’ve made you a good offer, that would be worth taking a look at. However, this can get tricky, and there are a few factors you need to consider. First, you’ll want to know where they are in the escrow process. More importantly, you want to find out if they’ve done their home inspections, appraisal, has their loan been approved, have the request for repairs been negotiated and if the buyers have REMOVED ALL CONTINGENCIES AND ARE NOW CONTRACTUALLY COMMITTED TO PURCHASING THE HOME? If this has all been satisfied in most cases you are good to go.

“

If you’re selling a house worth $500,000 or less,
don’t accept a contingent offer.

”

3) If you’re selling a house worth $700,000 to $1 million.

Most of the offers you get in this scenario will be Contingent on the Sale of another Property, so the same rules I applied to the previous scenario apply here as well. I’ve also sold several homes listed above $1 million, and at this range, you typically don’t have to worry about Contingent Offers. Buyers usually either have the available cash or some other payment method that doesn’t require selling another property. If you have any questions, please feel free to give me a call. I'd be happy to help you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

The First Offer Is Often the Best

cassidy@getvyral.com (Dale Downing) — Thu, 22 Mar 2018 11:05:00 -0700

In this competitive market, the first offer you receive is often going to be the best one. Let me explain.

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The first offer is oftentimes the best offer. As you know, buying here in San Diego isn’t always the easiest thing to do. The demand is so high and the buyer/buyers may have been looking for months and writing up to 10 or more offers with no luck. So when the perfect home comes along they (buyer/buyers) tend to write their best offer right out the gate (they are tired of losing and they have learned what it takes to get an offer accepted).

The first offer is oftentimes the best offer.

I can see why sellers might think it’s a good idea to wait for more offers, but you should respond to the first offer immediately so you don’t lose them. If you price your home correctly, there’s no reason your home shouldn’t sell right away for the most amount possible. In fact, the lower you price it, the more money you will end up getting (call/email/text me and I will explain how this happens and let you speak with my clients). If you have any questions, please feel free to give me a call. I'd be happy to help you.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Stop Losing Money

cassidy@getvyral.com (Dale Downing) — Tue, 16 Jan 2018 10:34:00 -0800

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Does this sound like you? “I’m going to wait a year before I buy a home.” “I’m saving up more money.” The market is going to crash.” This was said to me a ton in 2017.

Now a year has passed, and that $500,000 home you were looking at last year is currently worth approximately $540,000.

Interest rates have also gone up, just like we all predicted. What does this mean? Your mortgage payment has gone up about $200 a month because interest rates are higher and the same house is now a year older and $40,000 more. Most people cannot save fast enough to beat the market so you are losing money every month you wait – thousands of dollars a year.

If 2018 mirrors 2017 which is supposed to happen, home prices and interest rates will go up, making it more expensive to buy a home.

My advice is simple: Don’t wait any longer. Buy a home now – it’s an investment in your future. Homeownership is great and building your wealth is fantastic, so jump in with both feet.

If you are thinking of selling and buying a new home because you are downsizing or upgrading, there are a few things you should know.

My clients often say, “I think I will wait for the market to go up a little more so I can put more money down on my next property.” I totally understand this thought process. But, as your house increases in equity or value - guess what? Your replacement home is also increasing in value and interest rates are rising so your purchasing power on your new home is decreasing – costing you money.

Unless you plan on cashing your chips and moving completely out of state, it doesn’t matter when you sell and buy. If the market goes down, the value of your replacement property goes down; if the market goes up, the value of your replacement property goes up.

So, if you are thinking about selling, do it now. Interest rates are still relatively low, but they are expected to go up even more. Sell your home now so that you can lock in a low interest rate for your replacement property.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to

solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How Much of a Down Payment Do You Need to Buy a House?

cassidy@getvyral.com (Dale Downing) — Thu, 7 Dec 2017 08:29:00 -0800

Many people don’t know how much money they’ll need to put down in order to buy a house. Today, I set the record straight.

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How much money is required to buy a house? I get this question all the time. Today I’m going to explain exactly how much money down you need to buy a house.
There are three popular loans that just about everyone takes advantage of when buying a house: VA, FHA and Conventional loans.
Let’s start with a VA loan. These loans are for military personnel and require a 0% down payment. It’s a great service that our government provides for our service men and women.
Next, we have the FHA loan which requires a 3.5% down payment. It’s $17,500 on a $500,000 house.
Last is the Conventional loan. Minimum is 5% down. Using a $500,000 house as an example again, the down payment would be $25,000.

You’d be surprised how many buyers out there have absolutely no idea how much money it takes to buy a house.

Keep in mind that with all of these loans there are closing costs to consider. Your closing costs will vary depending on the type of loan you use. Be sure to talk to your lender and Realtor about how to keep these costs as low as possible.
If you have any questions regarding this or other real estate-related topics, please give me a call, send an email, or visit www.housecallrealty.com. Have an outstanding day!
**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Can Buyers or Sellers Cancel the Purchase Agreement Once in Escrow?

cassidy@getvyral.com (Dale Downing) — Fri, 27 Oct 2017 08:32:00 -0700

One of the most common questions I’m asked by buyers and sellers alike is: Can I cancel my contract? Today, I’ll be sharing the answer.

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One of the most common questions I’m asked by buyers and sellers alike is: Can I cancel my contract?
For buyers, the answer is absolutely yes. Contracts completely favor the buyer. Once your offer is accepted by the seller, you have 17 to 21 days (depending on what is negotiated) to do your due diligence.

Due diligence is the period where you must get your loan fully approved, your home inspections, appraisal, and more. At any point during the due diligence period, you can cancel for any reason. The only money you will lose is the cost of your inspections. Your earnest money deposit will be returned to you.

So, what about sellers? Well in the case of those who are listing their property for sale it is a
different story. If you think there is any chance you might change your mind about selling your home don’t put it on the market for sale. However, canceling on the buyers can be done if they are not following the agreed upon terms and conditions of the contract and you have given them a written Notice to Perform.

If the buyer follows all of the terms and conditions of the contract, you cannot cancel once you are in escrow.

If you have any other questions or would like more information, feel free to give me a call/txt/email. I look forward to hearing from you soon.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Thinking About Selling Your Investment Property? This Is Absolutely the Best Way to Do It!

cassidy@getvyral.com (Dale Downing) — Tue, 26 Sep 2017 13:32:00 -0700

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So how do you get 60 buyers and investors to one showing in a two-hour period and generate 18 offers, most of which are over asking price?

It’s simple-- price the subject property just under market value and have one showing time (especially with income – multi-unit property with multiple tenants, multiple families and schedules which makes it hard to schedule showings in general).

This gets everyone to the property at once creating huge interest which will ultimately create better than average offers.

Costco does this with by creating a limited supply of seasonal items which they tend sell out immediately!

Keys to the successful showing/open house:

1. Dress professionally
2. Know as much information about the property as possible
3. Know your competitors/inventory available in the neighborhood
4. Bring a lender to answer any lending questions a buyer may ask
5. Be nice

If you have any additional questions, please be sure to contact me right away!!

By the way this particular property generated 18 offers and sold for 60k above asking price!!

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Which Real Estate Site Should You Use?

cassidy@getvyral.com (Dale Downing) — Fri, 25 Aug 2017 14:24:00 -0700

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If you are in interested in buying or selling, which website should you use for your research, HouseCallRealty, Realtor.com, Zillow, Redfin, Trulia etc…?

You probably have many questions. Which one lists the most homes for sale? Which are the most accurate? How up to date are they? When you click on a house and an agent is shown to contact - are they the actual listing agent? Who do they really cater to? Will you get spammed? And the most important question, WHICH ONE SHOULD YOU USE?

When I’m speaking with my clients, especially buyers, they always, and I mean 100% of the time, search for homes on multiple sites? Why? Because they think there are different homes for sale on different sites. It is simply not true. Every website out there, including my site HouseCallRealty, use the same data from the “Multiple Listing Service” or the MLS, which is what Realtors use. So what does this mean? It means all of the sites have the exact same information. So to save time, pick one that you like and stick with it.

Zillow, Redfin, and the other sites make money selling advertising to Realtors and Lenders to appear as the listing agent and lender for the home. They cater to real estate agents and lenders who pay for placement - advertising. I personally get solicited at least once a week from these sites to pay for placement (advertising) in a certain city or zip code. For example, if I bought a portion of 91915 and 91941 on Zillow, I would appear as the listing agents for 100’s of homes…because I paid for it.

If you use one of these websites and click on multiple different homes, your information will be sent to the various Realtors and lenders who paid to have their names listed in that area and you will begin receiving calls/emails/texts from them soliciting your business. These sites are not interested in helping you, they are in business to sell advertising – period.

So where should you safely search for homes – HouseCallRealty.com!!

It’s lists every home for sale in San Diego County and is updated every day.
Your information will not be sold.
You won’t get calls/emails/texts from tons of agents across the county.
You can set up custom searches.
You can see how much your home is worth on a monthly basis.
You can see what is selling in your neighborhood and for how much.
I’m available 7 days a week to answer any real estate related questions you may have.
It is super easy to use.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Smart Home Technology That Will Add Value to Your Home

cassidy@getvyral.com (Dale Downing) — Thu, 3 Aug 2017 12:52:00 -0700

These small, really cool changes can add value and make your home more desirable.

Want to sell your home? Get a home value report
Want to buy a home? Search all homes for sale

Over the last several months many buyers have been requesting to see homes with “Smart Technology” so I thought it would be a great idea to let you know the items most requested. These small, really cool changes can add value and make your home more desirable.

Smart Home Security Systems can make your home stand out, and you won’t have to shell out thousands of dollars to make your home shine. Additionally, smart home features may signal to buyers that the home is updated and may have other desirable traits, upgrades or features. (Suggestions are Nest Learning Thermostat & Honeywell Lyric 5 for Thermostats and Comcast and ADT for Smart Security Systems).
Alexa & Google Home – Voice Command for your entire home. You can do things like controlling your stereo system, turning lights on and off and controlling your thermostat. (Alexa/Google Voice).
Video Doorbell – Ring is the most popular right now. You can see who is at the door on your phone whether you are home or not and actually speak to them.

Other “Smart” upgrades that can increase the value of your home are:

Tankless Water Heaters - never run out of water because they heat your water on demand, instead of storing 40 or 50 gallons of hot water.

Smart Door locks, Smart Sprinkler controls, Smart Air conditioners and Smart appliances

Last but certainly not least is Solar Panels – only if you want to eliminate your electricity costs for as long as you own your home. The best investment I’ve ever made!

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

What’s the Real Purpose of a Home Inspection?

cassidy@getvyral.com (Dale Downing) — Mon, 26 Jun 2017 12:25:00 -0700

What is the purpose of a home inspection?

Want to sell your home? Get a home value report
Want to buy a home? Search all homes for sale

So what is the purpose of the home inspection?

The home inspection is the opportunity for the buyers to check out the overall condition of the home they just purchased. Home inspection costs run from $300 to $500 depending on the size of the home. This is usually the first inspection the buyers do after their offer is accepted. Keep in mind a buyer has the right to do any and all inspections they want – at their cost.

So what do you want the home inspector to concentrate on?

Let’s begin with the big four–foundation, roof, electrical, and plumbing (the bones of the property):

Foundation – If it is a raised foundation, are the pillars and posts in good condition? If it’s on slab – is the slab cracked?
Roof – Does it need to be repaired? Does it need to be replaced or is it leaking?
Plumbing – Are there any leaks? If leaks are not detected they could lead to mold or upgrades. Is the water pressure high or low? Is the water draining slowly in the sinks, toilets, showers, and tubs?
Electrical - Is the panel up to code? Is the panel labeled? Are outlets and receptacles grounded? Are GFIs in place?

Buyers can perform any inspection they want—at their cost.

Other items the home inspector should inspect are:

The overall grounds -- How is the grading? Is the water being forced away from the property?
Driveway and garage condition – How is the concrete holding up?
Retaining walls – Are they in good shape?
Fencing – Does it need to be repaired?
Wood – Is there any wood rot? Typically handled by the termite company.
Patio or patio covers – What is their condition?
Heating and AC – Is it working? Does it need repairing or need to be replaced?
Water heater – Is it working? Does it need repairing or need to be replaced?
Attic – This is a good place to check for roof leaks.
Windows – Are they leaking, do they lock, do they slide properly?

Keep in mind these are just a few items a home inspector should check.

If you have any questions about home inspections or you’re thinking about buying or selling a San Diego home, don’t hesitate to give me a call or send me an email. I’m always happy to help.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

What to Do if Your Home Doesn’t Appraise

cassidy@getvyral.com (Dale Downing) — Thu, 25 May 2017 07:51:00 -0700

Many buyers think a failed appraisal spells the end for their homeownership dreams. That’s not true at all. You have many options to choose from on how to proceed.

Want to sell your home? Get a home value report
Want to buy a home? Search all homes for sale

So, what happens if your home you recently purchased does not appraise?

1. The buyers can cancel the purchase agreement. The buyers will receive their earnest money deposit back.

2. Ask the sellers to reduce the purchase price to the appraised value. If they agree, an amendment is drawn up and both the parties sign reflecting the new purchase price.

3. Buyer and seller can meet in the middle of the appraisal value and original contract price. For example, if the original price was $500,000 and the appraised value was $490,000 and they agree on a new purchase price of $495,000, the buyers will have to come in with an additional $5,000. The bank will only lend money on the appraised value.

If done correctly, it’s a simple renegotiation.

If done correctly it’s a simple renegotiation that makes both the buyer and seller happy with the end result.

If you have any additional questions, please don’t hesitate to contact me immediately.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How to Make Sure You Hire the Right Realtor

cassidy@getvyral.com (Dale Downing) — Fri, 5 May 2017 12:47:00 -0700

Selecting the right Realtor is probably the most important decision you will make in the buying or selling process. Here's how you choose the right one.

How should you go about selecting the right Realtor for you?

With approximately 22,000 licensed real estate agents in San Diego county, I will tell you how to select the right Realtor because as you know, everyone, and I mean everyone, knows a Realtor.

Here are a few suggestions. Selecting the right Realtor is very important, probably THE MOST important decision you will make in the buying/selling process. It shouldn’t be taken lightly considering buying or selling a home is probably the biggest and most important financial decision you will make in your lifetime.

1. Does the person you are considering choosing work as a Real Estate agent part time or full time? In other words, is real estate their career and does he/she actually make a living at it?

2. How long have they been in business? He/She needs to be in business at least 4 yrs or have successfully closed 48 transactions. Why, because experience is needed when things go wrong and that’s when it pays to have an experienced Realtor by your side.

"It pays to have an experienced
Realtor by your side."

3. How many homes have they sold in the last 24 months? Make sure they are selling a minimum of 12 homes a year. I know people who have been a “Realtor” for the last 20 years and they average 1-2 homes sold a year. That's not good – they are not in touch with the market nor are they aggressive enough to do what it takes to sell your home for top dollar or get your offer accepted when there are multiple offers on the property.

4. Referrals are always great, but make sure they “check all the boxes.” Speak with their last 3 clients – don’t let them hand pick their references.

5. Google them. Make sure their on-line reviews are great.

6. Look up their license status at the Department of Real Estate to make sure it is in good standing.

7. Make sure they have a video blog and website and their social media pages are professional.

8. Agent’s Brokerage – Are they a well-established professional real estate company? These Realtors tend to have more knowledgeable brokers and better business practices than the “mom and pop shops.”

9. After you have met with your prospective Realtor – do you get along with them? Can you see spending the next 30, 60 or 90 days with them? A great agent will be in constant communication with you throughout the entire process.

If you follow these suggestions I’m sure you will be working with a professional Realtor who make your home buying/selling a great experience.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How to Get Your Offer Accepted

cassidy@getvyral.com (Dale Downing) — Tue, 18 Apr 2017 07:22:00 -0700

There are a few crucial steps you need to take when putting an offer on a home to get an edge over the competition.

According to the CA Association of Realtors there will be multiple offers on any given property 98% of the time. You will be competing, so you need a strong agent with experience and a proven track record to help you purchase your dream home or investment property.

Here are a few great tips on how to get your offers accepted over your competition.

1. Be available - when a home comes on the market you need to get out there to see within 24 hrs – you’re competing and sometimes it is a race – be available.

"Don’t mess around writing a low offer hoping to save a few dollars off your monthly mortgage."

2. Write a strong offer right out of the gate – come in high and strong, if not someone else will and could potentially get the house. Don’t mess around writing a low offer hoping to save a few dollars off your monthly mortgage. Saving $8.00 a month is not worth losing the house.

3. Make sure the offer is signed thru Docusign. It’s neat, clean, fast and looks professional.

4. Now when your agent submits the offer it should include your pre-qualification letter, proof of funds, which is your deposit, down payment and a personal letter. This alone can separate you from similar offers.

5. Increase your earnest money deposit, you’re buying a house not a cell phone – put down a minimum of 1-3% of the purchase price. This shows the seller you are committed.

6. Contingency period is typically 17 – 21 days; this is the period in which you/buyer does their due diligence – inspections – loan approval – reduce this to 14 days. 14 days is plenty of time to get everything done. Why is this so important? Until you remove ALL of your contingencies in writing you can cancel the purchase agreement at any time. The sellers do not want to wait 21 days – 14 days will separate you from the competition.

7. The escrow period should be 30 days – there is no reason for it to go longer.

Follow my steps and your offer will be accepted. It’s easy and can make huge difference in separating you from the competition.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Why You Can’t Trust a Zestimate

cassidy@getvyral.com (Dale Downing) — Tue, 4 Apr 2017 11:32:00 -0700

You can trust a Zestimate to give you an accurate home value, right? Wrong. Here are the facts.

According to the National Association of Realtors, 92% of home buyers use the internet when searching for a home – and many of them use Zillow. You search for a home to buy or the value of your home and receive what is called a Zestimate. Zillow wants you to believe that their Zestimate is the real value for your home.

Can you trust a Zestimate? No, you can’t. Zillow allows the public to input the data which many times, is completely inaccurate. The Zestimate is based on user-submitted data. In fact, and I’m quoting directly from the Zillow site….

“The Zestimate is calculated from public and user-submitted data, taking into account special features, location, and market conditions. We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as:

• Getting a comparative market analysis (CMA) from a real estate agent - free
• Getting an appraisal from a professional appraiser $400-$600
• Visiting the house (whenever possible) using a real estate agent –free”

All of which require the knowledge and experience from a local real estate professional.

What I am going to tell you now, does happen, and happens often….

Some people planning on selling their home (and you know people check Zillow), go to Zillow and add some home improvements to their property to increase the “value” of their home. There are some unprofessional agents out there who actually help people increase their Zestimates, or value of their home, to make it seem like their home is worth more than it is. In short, Zestimates can be adjusted and influenced.

Zillow goes on to say they have never been to your house; that Zestimate has no idea how your home stacks up against others in the area, so consult a Realtor.

So, how accurate are Zestimates in San Diego County? Zillow admits the Zestimates in San Diego County are off by 10% or more, which means if your house is worth $600,000, the Zestimate can be $60,000 too high or $60,000 to low--and that is a lot.

Zillow is kind of like WebMD; if you are curious about a health condition, then you can look up some data on WebMD. If you are seriously concerned about your health, you will go to the doctor. You won’t trust your health to information from WebMD. Why trust the value of your house to some website?

Let me bottom line this for you – If would like a truly accurate market price valuation of your home, based on facts, contact a full time real estate professional. In fact, I invite you to look up your Zestimate and send it to me. I will then compare your property to recently sold homes in your area and we’ll see how accurate Zillow actually is.

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Housing Bubble? I Don't Think So!

cassidy@getvyral.com (Dale Downing) — Fri, 24 Feb 2017 09:43:00 -0800

How far have home prices come since the market crash? In some areas, home prices are higher than they were at the peak of the market — I’ll explain why today.

If you are curious about how far home prices have risen since the crash, there are a few things you should know.

First of all, home prices all over the county have hit record highs in the past few months. In fact, in many areas home prices are just as high as or even higher than they were in 2006, which was the peak of the housing bubble.

That said, the current market is not in a housing bubble like it was 10 years ago. Instead, today’s high prices are mostly driven by a lack of supply. If you want to sell your home, then now is the time to do it.

"We are not in another housing bubble like we were 10 years ago."

Secondly, interest rates are still low, but they are rising. For example, last July, interest rates hovered between 3.25% and 3.35%. As of right now, interest rates are around 4%, which is still great news for buyers out there.

When you combine low housing inventory with low but rising interest rates, it is clear why so many homebuyers are looking to make their move. The spring season is fast approaching, and it is the hottest season for the real estate market. You need to take advantage of the spring market right now.

If you have any questions about the home buying or selling process, give me a call or send me an email. I would be happy to guide you through the San Diego market.

**A broker is licensed to render real estate advise. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

What Do Buyers and Sellers Actually Pay for When Buying and Selling a Home?

cassidy@getvyral.com (Dale Downing) — Fri, 3 Feb 2017 12:00:00 -0800

Buyers and sellers each incur costs during the course of their transaction. We have a detailed breakdown of each that we’d like to share.

So, what do buyers and sellers actually pay when buying and selling a home?

Let's begin with the buyers. Please keep in mind these are just estimates and will depend on the lender you use, area you buy and the services and agents you select.

1.) Good news – Buyers, YOU DO NOT PAY ANY COMMISSION – BUYERS AGENT ARE FREE TO THE BUYER – SELLER PAYS.

2.) If you are purchasing a $500,000 home and putting down 20%, your down payment is $100,000.

3.) Closing costs – what are closing costs? These consist of the following….

Property Taxes – 6 months of taxes would be $1,084
Title Charges - $900.00
Escrow Fees - $1,925.00
Lender Charges - $2,760.00
Home Owner Insurance - $600.00
Misc Fees and Padding $300.00

So the total buyer fees will be approximately $100,000 for loan and $7569.00 (closing costs) for a total of $107,569.00.

Sellers – Please keep in mind some of the fees can be negotiated. I will use the traditional fees and costs in this example.

1.) Commission – Sellers pay the commission to the Listing Broker (listing agent) and Selling Broker (buyer’s agent). The brokers get paid and then pay the agents according to their individual agreements.

$500,000 sales price – Commission (6%) will be $15,000 to the Listing Broker, $15,000 to the Selling Broker

Title Charges - $2,200.00
Escrow Fees - $1,225.00
Lender Fees – 0
Property Taxes - $2,000.00

Additional Charges include (depending on the agent and services you use and what is negotiated in the purchase agreement) - Home Warranty for the Buyer, TC fee if any, Hazard Report, Notary and HOA and Doc fees - $1,600.00.

So the total “closing costs” including commission will be approximately $37,025.00

Again, please keep in mind these figures and many of the charges and fees can be negotiated in the purchase agreement and the agents and services you select. If you have any additional questions, please contact me immediately.

If you have any questions for us about the costs of buying or selling, give us a call or send us an email. We look forward to hearing from you.

**A broker is licensed to render real estate advise. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

How to Prepare Your Home to Sell for Top Dollar

cassidy@getvyral.com (Dale Downing) — Fri, 13 Jan 2017 12:31:00 -0800

I've received a lot of questions lately about how to prepare a house to sell for top dollar. Today I'll go over the easy and inexpensive things you can do to maximize your profit.

After a recent video about why you should list your home during the winter, I received multiple emails from people who wanted to know how to prepare their homes to maximize their profit.

So what's the best way to prepare to sell for top dollar? Every home is different, but most buyers are looking for a move-in ready home. To prepare your home to sell, the first thing you need to do is make sure the front yard looks good. Buyers can typically tell what the inside of a house will look like by looking at the outside. If the outside is a mess, the inside tends to be a mess too.

"First impressions are extremely important."

Paint is another improvement you can make at a relatively low price. It will make the house look and smell good. You should also pay attention to your kitchen and flooring to make sure they look great. If your cabinets are worn, consider painting or staining them. When it comes to flooring, if you have tile, wood, or carpet, they need to be professionally cleaned.

Next, you want to open all your blinds to let as much light in as possible and turn on all the lights—even in the closets. You want your house as light and bright as possible. You should also buy air fresheners to ensure a great smell and even play some soft music while you're out of the house for showings.

De-clutter your house by packing up, storing, or getting rid of knickknacks and unnecessary furniture. Finally, you want to clean the house top to bottom.

As you can see, you don't need to do much to maximize your profit. So, if you are thinking about selling your home or getting a free personal estimate of your home's current value, give me a call, send me a text, or send me an email.