The Real Estate Blog

Home Owners Remodeling Trends

noreply@blogger.com (Fran and Rowena) — Tue, 08 May 2012 23:03:00 +0000

The National Association of Home Builders (NAHB) reports that remodeling of kitchen and baths is on the rise. According to a recent survey, home remodeling has seen an increase over 2010 (the last survey done by the NAHB). Bathroom remodeling jobs have an edge over kitchen remodeling projects (perhaps because the cost of a kitchen remodel is generally greater than a bathroom remodel).

The trend of increased home remodeling can be attributed to many reasons. Among our thoughts are:

(1) Homeowners are deciding to stay in their homes longer. This decision means that rather than moving, homeowners are electing to stay in their current home and remodel it - give it a "face lift" - and enjoy living in their home.
There have been many reports of a lack of housing inventory in recent months. The California Association of Realtors reported that "Housing inventory remains extremely tight throughout the state and at levels severely under normal market conditions" (source: March home sales and price report).

or

(2) Homeowners are finding - or it's being recommended to them - that they update the look of their home before putting it on the market. More and more home sellers are updating their home to help it compete in the real estate market. This can mean more than just "home staging". It can mean that replacing old-style construction elements will help in the sale of the home. Buyers are looking for that sleek, updated look. You can read our previous blog post here: TV Shows Affect Real Estate

This survey is yet another indicator of today's real estate market climate. You can read our previous blog post --- Is NOW the right time to buy a home? It's great if now is the right time for you to buy a home ... but there needs to be a home on the market to buy!

You can read the NAHB press release here: Kitchens and Bathrooms Remain Top Remodeling Jobs According to NAHB Survey

Is NOW the right time to buy a home?

noreply@blogger.com (Fran and Rowena) — Sun, 06 May 2012 14:37:00 +0000

With continued uncertainty in the economy, we just have to ask ... is NOW the right time to buy a home?   The economists study the indicators, trends and graphs; "experts" make their predictions; and the consumer wonders what to believe.

If you are trying to decide if now is the right time for you to buy a home, consider these recent real estate-related news stories:

1. Interest rates are at an all time low. Read: MSNBC: 30 year Mortgage Rates at record low

2. Home prices have possibly hit the bottom. Read: CNN: Buying a home won't get much cheaper

3. Consumer confidence is in positive territory globally. Read: Consumer Confidence Gains as Taiwan, U.S. Rise in Nielsen Survey

4. Job growth points to a pull-back in the economy.  Read: Bloomberg: Job Gains Trailing Forecasts Add to U.S. Slowdown Concern

5. Do you value the investment advice of Warren Buffett?   Read: Warren Buffett on CNBC: I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes If I Could

6. An investment analyst who was previously negative on the real estate market claims now is the time to get back into the real estate market. Read: Time to start buying houses again in U.S.: Pimco

7. March home sales were up over last year.   Read: National Association of Realtors: March Pending Home Sales Rise, Market Recovering

8. Housing affordability index hits record high. Read: National Association of Realtors: Housing Affordability Index Hits Record High

9. If you want to buy a home, can you buy a home? The ability to obtain financing is affecting the market and still remains a sticking point. Read: Los Angeles Times: Home loan demand rises, but credit standards remain tight

While no one can predict the future, and until time passes, we won't know if these real estate stories are wishful hype or educated predictions. We feel there are more positive signals in the real estate market than we've seen in a number of years.

Fran and Rowena real estate agents on Facebook

noreply@blogger.com (Fran and Rowena) — Thu, 29 Mar 2012 15:00:00 +0000

With change comes opportunity!

As of March 30, Facebook is converting Fan pages to the Timeline design. It allows businesses to create unique branding via the "cover photo" and "profile photo", with the ability to create custom "tabs". Facebook has guidelines for cover photos, so read up on them first. You can also use the "Milestone" feature to show the growth and evolution of your business.

Yes ... it's a change. But ... what an opportunity!

We have updated our Facebook page to the new Timeline design with a unique cover photo to showcase our "brand" as real estate agents. It's what we do and represent ... your success in finding a home.

Take a look and let us know what you think!

Fran and Rowena real estate agents

You can view our page here: Fran and Rowena real estate agents

Facebook is always changing, and as real estate agents we also face change in our business. We welcome change, and keeping up with the current real estate, financial, and economic markets plus social trends.

Technorati

noreply@blogger.com (Fran and Rowena) — Sun, 25 Mar 2012 12:00:00 +0000

Claim code: DEHSQJM9JZZY

Mortgage Settlement Agreement

noreply@blogger.com (Fran and Rowena) — Wed, 22 Feb 2012 14:32:00 +0000

By now, most people have heard the term "robo signing", and also are aware that this practice has been widely challenged as a contributing factor to the current foreclosure woes.

Recently a settlement agreement was reached to assist homeowners who obtained a mortage with certain lenders. The agreement has been approved in 49 states.

You can read more about it: "Robo-Signing" Agreement Assists Homeowners

Sellers Seize Increased Real Estate Activity

noreply@blogger.com (Fran and Rowena) — Sun, 19 Feb 2012 14:24:00 +0000

Remember our blog post from January? Winter Real Estate Market Heats Up

Well, apparently the sellers have noticed. Recently sellers have also been feeling better about the market. What does this mean? The effect in our area is twofold.

First, sellers are pushing prices again. Listing prices appear to be on the rise. Will the sales price correspond with a similar increase? Time will tell. It's up to the buyers to let the sellers know if they are willing to pay more than, say, last year. We've noticed some properties relisted this year that did not sell last year ... and they're selling! That's good news!

Second, buyers are buying. We're feeling that the buyers have a "sense of urgency" with this being the "window of opportunity" for them to take advantage of low interest rates and favorable home prices. However, some buyers have already noticed the increased list prices and "balked". It may not be too hard to push the buyers right back out of the market.

Our advice? Sellers be careful. Reasonable pricing is still key to getting your home sold. And, remember --- there's still the important contract contingency of the appraisal. The appraiser must appraise the house for the amount of the sales price. Lenders may not be feeling this same upward pressure on prices, and that may, in the end, be the "check and balance" on home prices this year.

Number of Real Estate Agents Continues to Decline

noreply@blogger.com (Fran and Rowena) — Sun, 29 Jan 2012 03:54:00 +0000

The California Department of Real Estate (CA DRE) "salesperson" licensees continues to decline from the peak in 2007.

Statistics available from the CA DRE website show the following:
Month, Year       Number of "salesperson" licensees
October, 2011    291,623
October, 2010    322,009
October, 2009    356,199
October, 2008    383,118
October, 2007    398,176
October, 2006    376,561
October, 2005    336,827

Yes, it would appear that the number of real estate licensees has mirrored the economic environment. You can see the decline in the numbers of licensees from 2007 through now, as with the economic downturn.

We think we continue to see the number go down. From what we are hearing, many agents who have been holding on in the business are about at the point where they feel it necessary to get a "real job" - one with steady income and, possibly, benefits.

What do you think?

Should you remodel in your city?

noreply@blogger.com (Fran and Rowena) — Fri, 27 Jan 2012 07:31:00 +0000

Remodeling Magazine has issued their second annual forecast on the top 100 cities in terms of remodeling activity when measured against "the level of activity in first-quarter 2007, which was the peak of remodeling activity nationally in the prior decade." They have dubbed their "measuring stick" to be the Residential Remodeling Index ("RRI"). We find their list an interesting commentary on the health of the nationwide real estate market. One wonders - Does this remodeling index point to and correlate with the sales activity in that community as well? Or is it the indication that homeowners are staying in their homes and remodeling rather than moving?

In order, the top ten based on the RRI are: Cincinnati, Houston, Minneapolis, Dallas, Austin, San Antonio, Kansas City, Charlotte (North Carolina), Oklahoma City and Philadelphia.

In our state, California, the following cities made the list: San Francisco (#35), San Diego (#49), Sacramento (tied for #51), San Jose (tied for #54), Los Angeles (#66), Riverside (#79), Ventura (#84).

Did your city make the list? Check it out here: Top 100 Remodeling Markets

Winter Real Estate Market Heats Up

noreply@blogger.com (Fran and Rowena) — Fri, 20 Jan 2012 12:24:00 +0000

Yes, it may still be winter, but the real estate market has started with an early thaw.

Real estate agents report that phone calls into their office have increased in number since the doldrums of the holiday real estate market.

Open houses have been well-attended. A recent open house on our new listing was busy from the moment the door opened, until closing. Buyers were not only looking at the house, but talking about their plans to purchase. This represents a change from the general outlook during 2011, when buyers were more hesitant to express their desire to purchase, and seemed more "on the fence" about buying a home.

FreddieMac recently came out with their January 2012 Economic Outlook. You can read the pdf version here.

While those who make predictions are hedging their real estate bets, the home buyers we are talking with have an optimistic outlook on their home buying prospects. Historically low interest rates and lower home prices certainly are contributing to this positive feeling. Also, buyers are feeling more "settled" in their jobs.

Sellers may see an increase in activity. Indeed, one of our recent new listings received multiple offers within the first week of marketing. We encourage sellers to take a hard, realistic look at their listing price before putting their property on the market. We find that sellers who are pricing their homes more in line with the marketplace, without an extra "pad" in the price, are creating an encouraging signal to home buyers.

Yes, it's a winter thaw. Let's hope the real estate market continues to bloom in spring, and heat up in summer!

4855 Ocean View Blvd., La Canada, CA 91011

noreply@blogger.com (Fran and Rowena) — Fri, 13 Jan 2012 03:20:00 +0000

View our new La Canada listing

4855 Ocean View Blvd.
Offered at $649,000
Open Sunday, January 15 from 2 to 4 pm

Fran and Rowena
Dilbeck Real Estate Real Living
1030 Foothill Blvd.
La Canada Flintridge, CA 91011
(818) 952-0077

CA DRE #00966791 and #00913659

Dilbeck Real Estate is independently owned and operated.

Fran and Rowena Year End 2011

noreply@blogger.com (Fran and Rowena) — Sat, 07 Jan 2012 15:19:00 +0000

Are you thinking of selling your La Canada, La Crescenta or Pasadena home in 2012?

Call us for a free, confidential real estate consultation.

Fran and Rowena
Dilbeck Real Estate Real Living
1030 Foothill Blvd.
La Canada Flintridge, CA 91011
(818) 952-0077

CA DRE #00966791 and #00913659

Fran and Rowena, real estate marketing specialists ... help you get your home sold!

Let us help you move to the next, great chapter in your life!

Fran and Rowena Summer Ad

noreply@blogger.com (Fran and Rowena) — Fri, 07 Oct 2011 10:29:00 +0000

SOLD! What Fran and Rowena did on their summer vacation

Fran and Rowena
Dilbeck Real Estate Real Living
1030 Foothill Blvd.
La Canada Flintridge, CA 91011
(818) 952-0077
CA DRE #00966791 and #00913659

Gated Estate - Modern Design - La Canada Flintridge

noreply@blogger.com (Fran and Rowena) — Wed, 05 Oct 2011 20:30:00 +0000

Architectural Modern Gated Estate

3820 Domal Lane
La Canada Flintridge, CA 91011
Now offered at $2,495,000

This dramatic home was designed by noted La Canada architect Jack Simison. Mountain, city and valley views! Once in a lifetime opportunity to own a home of significant architectural design. Award-winning La Canada schools.

For additional information, please contact:
Fran and Rowena
Dilbeck Real Estate Real Living
(818) 952-0077
email: info (at) franandrowena.com

CA DRE #00966791 and #00913659.
Information deemed reliable, but not guaranteed. Dilbeck Real Estate is independently owned and operated.

250 W. Highland Ave., Sierra Madre, CA

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:33:00 +0000

Wonderful Cottage-style home for sale!

250 West Highland Avenue
Sierra Madre, California 91024
Offered at $689,000

Main house features charming vintage details, 3 bedrooms, remodeled kitchen. Beautiful grounds including sparkling pool. Detached recreation room with fireplace and bath. Three car garage. Convenient location.

For additional information, please contact:
Fran and Rowena
Dilbeck Real Estate Real Living
(818) 952-0077
email: info (at) franandrowena.com

CA DRE #00966791 and #00913659.
Information deemed reliable, but not guaranteed. Dilbeck Real Estate is independently owned and operated.

3820 Domal Lane, La Canada Flintridge

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:32:00 +0000

Home for Sale
Mid-Century Modern
Architect - Jack Simison

3820 Domal Lane
La Canada Flintridge, CA 91011
Offered at $2,750,000

The architect for this dramatic home is noted La Canada architect Jack Simison. Enjoy captivating 270 degree views from this perfectly sited gated estate! Award-winning La Canada schools.

For additional information, please contact:
Fran and Rowena
Dilbeck Real Estate Real Living
(818) 952-0077
email: info (at) franandrowena.com

CA DRE #00966791 and #00913659.
Information deemed reliable, but not guaranteed. Dilbeck Real Estate is independently owned and operated.

Buff & Hensman Mid-Century Modern for Sale

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:32:00 +0000

Home for Sale
Buff & Hensman Mid-Century Modern
820 Burleigh Drive in Pasadena
Offered at $1,295,000

The Norton House, designed 1954 by famed architects Buff & Hensman. Mid-century modern with walls of glass, use of wood with cork flooring. Dramatic arroyo setting with stream, bridge and mature landscaping. 3 bedrooms, 2 baths. Listed on the National Register of Historic Places. Offered at $1,295,000

For additional information, please contact:
Fran and Rowena
Dilbeck Real Estate Real Living
(818) 952-0077
email: info (at) franandrowena.com

CA DRE #00966791 and #00913659.
Information deemed reliable, but not guaranteed. Dilbeck Real Estate is independently owned and operated.

"Like" our Facebook page

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:31:00 +0000

Short Sale Website Launched by C.A.R.

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:31:00 +0000

The California Association of Realtors® (C.A.R.) has launched a new website devoted to short sales in California. This new website has comprehensive information for home owners and potential buyers of short sale properties.

One good section to watch is on scams and fraud. We've heard of, and received, emails and solicitations from companies proporting to help if you are in a distressed situation. Sadly, as is common when hardship is involved, many offerings are scams - taking advantage of those in trouble and who need help.

The new website is here: California Short Sales

Fran and Rowena's new Dilbeck Real Living Yard Sign

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:30:00 +0000

To accompany Dilbeck's association with Real Living, our "for sale" yard signs have been redesigned. Below is our new yard sign:

CA Earthquake Fault Zone Maps Online

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:30:00 +0000

The California Geological Survey now has a searchable online resource - "Official Maps of Earthquake Fault Zones delineated by the California Geological Survey through December 2010 under the Alquist-Priolo Earthquake Fault Zoning Act".

You can search by address or zip code.

The online resource is here: California Alquist-Priolo Earthquake Fault Zone Maps

Dilbeck Realtors joins with Real Living

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:30:00 +0000

Dilbeck Real Estate is proud to announce their new affiliation with the Real Living network of real estate companies. Combining the strength of the local ownership with the resources of the global Real Living network, this change gives extensive benefits to our clients and comprehensive resources to the agents. We are all very excited about this new relationship.

Here's the new Dilbeck Real Living logo:

In addition, Dilbeck Real Estate remains an affiliate of Christie’s International Real Estate, the world’s largest network of independent real estate brokers specializing in the sale of estate properties.

TV Shows Affect Real Estate

noreply@blogger.com (Fran and Rowena) — Wed, 22 Jun 2011 13:30:00 +0000

We have been seeing this for a while now, but the current real estate market has called attention to it even more. We call it the "HGTV Effect".

What's that, you ask? Well, it defines buyer expectations based on what they see on television shows, such as those on the HGTV channel. Programs that show remarkable tranformations of homes to have a more current "look". Decluttering, restaging, painting, etc.

While we always advocate putting your home's "best foot forward", these television programs have led buyers to expect more. They expect to see what they see on HGTV.

Why is this? Well, perhaps one reason is that in today's economy, buyers have less money to spend on repairs and fix-ups after they have purchased a home. In addition, in today's atmosphere of a buyer's market, they can expect more - or wait for a property that delivers more.

Granted, this may not always be the case. There still is room in the real estate market for properties that are not fixed up nor modernized. Consult with your real estate agent to see what the best course of action is for your property.

The latest news from Fran and Rowena

noreply@blogger.com (Fran and Rowena) — Tue, 19 Oct 2010 13:17:00 +0000

If you want to keep up with the latest news from Fran and Rowena, may we suggest you join us on Facebook?

Fran and Rowena, real estate agents

And also connect with us:

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"friend" us ... "like" us ... let's connect!

California Homeowners "Keep Your Home"

noreply@blogger.com (Fran and Rowena) — Wed, 12 May 2010 12:45:00 +0000

California Housing Finance Agency (CalHFA) is participating in a program aimed to help California homeowners keep their home.

According to the website, "The Obama Administration has directed CalHFA to submit program proposals to assist California homeowners who are struggling with their mortgage payments."

Funded with nearly $700 million through the U.S. Treasury’s Housing Finance Agency Innovation Fund, the proposed programs are not yet available to California homeowners. The proposed programs have been submitted to the U.S. Treasury, and CalHFA is awaiting approval. It is anticipated to take between six to eight weeks from the submission date of April 16, 2010.

California homeowners should check the official CalHFA website here: Keep Your Home California

Program eligibility is spelled out on the website, explaining that "The eligibility criteria are designed to assist those who have been most seriously impacted by the current housing crisis."

In addition to borrower eligibility, you can read about property eligibility requirements on the website, including general exclusions.

Foreclosure activity up in first quarter

noreply@blogger.com (Fran and Rowena) — Thu, 15 Apr 2010 15:49:00 +0000

Realtytrac.com reports that foreclosure activity is up in the first quarter of 2010, increasing 7% over the same quarter of 2009.

The Realtytrac.com website reports that "... its U.S. Foreclosure Market Report™ for Q1 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 properties in the first quarter, a 7 percent increase from the previous quarter and a 16 percent increase from the first quarter of 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter."

The top ten states for foreclosure filings in the first quarter are (in order): Nevada, Arizona, Florida, California, Utah, Michigan, Georgia, Idaho, Illinois, and Colorado.

An interesting report. You can read it online here: Realtytrac press release on first quarter 2010 foreclosures