Hello and Welcome to Diane Halls Monthly Real estate Tips for El Dorado County 

I hope you find these articles helpful and informative---I welcome all suggestions, so if you have a subject you would like me to research,concerning Real Estate in El Dorado or Amador Counties, just e-mail your comments--or CALL-530-295-8440-- 

Communication is very important when searching for--or trying to sell a major investment----
Your Home--
 

March,2008

 4 Insider Tips for Investors
Buying real estate has been a thriving business for many years. People can not only purchase homes to live in, but also as an investment. A development in the recent past has been to "fix & flip" property, which means buying a residential property with the intention of reselling it whether you intend to reside in it while fixing it up or not. Consider that an investment may be undertaken for monetary gain or for your own living space, thinking as an investor would can be a good technique either way. No matter what type of investment you get involved in, you need a plan. In the case of real estate, especially when you need a place to live, this can be the key factor in the whole investment scenario. In order to be effective at all, planning must be completely done and double-checked before you begin the purchase.

1. Start Early
As with any serious investment you have to allow sufficient time. Give yourself several months before you plan to move to begin looking. Sign up with several home-search Internet sites. Check out different firms to find out what their listings are and what is available. Sticking with the first company you happen across could limit your options, putting you at a serious disadvantage. A home purchase requires significant time, money and follow-through regardless of whether you plan to use it as an investment, and doing it in a hurry could hurt you for the rest of your life.

2. Prequalification Is Important
One thing you should do prior to starting the search is to get a lender to prequalify you up to a certain maximum. The lender should be located in the local area and reputable. This will help you in determining a range of prices. A lender should be able to help you figure out a reasonable amount to spend with your household income and other debts. Just knowing that you have a lender who is ready to lend you that predetermined amount can boost your confidence. It's great to know your price parameters as you look for real estate.

3. Ascertain What You're Going After
You must be definite and clear in knowing what it is that you are looking for. People who don't take this vital step find themselves accepting the choices of others. Set your standards as high as you logically can. If you shoot high, you can adjust as needed. You shouldn't have a minimum mentality when it comes to purchasing your home. Target your aspirations for the high side, within your budget of course. You might have to decide to bring it down a tad to be more realistic. Sometimes, certain things just aren't feasible where you are looking.

4. Find an Agent to Be on Your Side Exclusively
Check into Realtors that are buyer agents. Don't rely on the agent selling the home because that agent has an obligation to work on behalf of the seller. Choosing a Realtor is a big step. You must do this carefully. It may or may not be good to go to a friend who happens to be in the business, unless you are certain the person has a solid professional reputation outside of the relationship you have.

There, that's not so difficult. Don't hurry through the process, determine the level of your buying power, set your standards, and get an agent who will represent your best interests. Following these few steps will help you find the right home, whether as a financial investment or as your personal investment in your own happiness.

Feb. 2008
Three Easy Things You Can Do to Prepare Your Home for Sale

Putting your home up for sale can be quite stressful. Preparations are rushed, cumbersome, and usually demand a lot of work on a ridiculous deadline. That's especially so if you're like most sellers and prepare your home for sale a week or two before putting it on the market.

What buyers see from the curb
If you know in the fall that you might be selling in the spring, be sure to plant bulbs in the fall so you'll have some beautiful blooms come springtime. Many homeowners focus so much on preparing the house that they forget that the yard will be the first thing that potential buyers will see when they visit. A green, clean-cut lawn will go a long way towards convincing potential buyers that your house is the right house for them.

Your "honey-do" list
Get your "honey-do's" out of the way when contractors are more readily available in the off-season. Painters are not as busy in the winter so negotiating a painting contract during the off-season will allow you to get your home painted for a better price. The same goes for heating and air conditioning contractors and the rental of storage space.

Your home's "photo shoot"
You don't get a second chance to make a first impression, and when buyers are looking online, that first impression is the photo of your home. Don't fool yourself into thinking that you can get away with a snapshot from the curb at high noon (which is the worst time of day to ever take a picture.) One of the best things you can do to get your home ready for sale is to keep a camera handy for getting just the right snapshot when your home won't appear washed out and colorless because the picture was taken at high noon. It never fails: if you put off getting that listing picture taken of your home, it will be dark and overcast the whole week your agent shows up to take a picture.

Whether you're planning on selling soon or not, the next time after it rains, see if you can take a picture of a rainbow that "just happens" to end right behind your home. In the spring, make sure to get an early morning picture with the amber sun glowing on your award-winning flower bed that buyers won't see if you sell in the winter. Little things like that make a big impression.

By following some of the above steps, and with some simple planning, you can greatly enhance the effectiveness of preparing to sell your home.

January 2008, Newsletter 

Seller tip: Get an advance appraisal 

Whether selling your Placerville real estate, a vacation hideaway on a mountain stream, or that Abilene real estate you used to love so much, you'll run into the same roadblock: the person that buys your home is going to have concerns about your asking price, no matter how much you think it's worth. It's simply human nature. They're about to make the biggest investment of their lives.
There is nothing more reassuring to a buyer than an unbiased third party validating your home's price.
Because real estate involves such serious financial decisions, sellers can boost their home's odds of selling by getting the professional opinion of real estate appraisers. Real estate appraisers have only one job. that's to evaluate homes and they don't have a vested interest in the home. Their job is to document an impartial estimate of the value, condition, and quality of the home. By paying for an appraisal in advance, you raise the odds that you get the most money possible because of how that appraisal will make a buyer feel about the home's true value.  

While inspecting the home, the real estate appraiser judges how sound the construction of the home is, the condition of the total property, and how dated (or outdated) the home may be. They assimilate data on the entire property by making observations and searching public records for the details of other property assessments, past sales and leases, and any other transactions.  

Get the appraiser's agreement ahead of time that the appraisal will be transferable to the buyer.
If used properly, an advance home appraisal is a tangible asset that is part of the home, but it loses its value to the seller as soon as the home is sold. Why not let the borrower use your appraisal? It can save the buyer $250 to $500 (or even more), which, in turn, can help you get more during negotiations. In addition to helping reassure the buyer of your home's value, you can literally get some of the expense of the initial appraisal back by giving it to the borrower. In addition to cutting down some of the buyer's expenses, you also guarantee that your home will appraise, because if the borrower hires their own appraiser, it's a possibility that that a different appraiser will think the home isn't worth what they're paying. 

For a nominal fee, usually $25 to $50, you can have the appraisal transferred to the new owner. In this real estate market, buyers can walk away from a contract for any reason. Sellers are in the position of having to carefully balance tact and ingenuity. Getting an advance home appraisal is a good, inexpensive incentive you can throw into the deal to show your good faith and cooperative spirit as a seller. It not only increases the buyer's confidence in your interaction with him or her, but it might put more dollars in your pocket as an added bonus!
 

December 2007, newsletter 

Finished Basements: Letting Someone Else Do the Work 

When you're in the market for real estate, you have many things to consider. One of them is the type of basement you want. Do you want to buy a home with a finished basement, or would you prefer to get a home with an unfinished basement and finish it yourself?  

One thing to consider is that finishing a basement can be pricey, and you're unlikely to recoup your investment when the time comes to sell your real estate. In fact, according to a 2003 Remodeling Magazine report, paying to finish a basement will only get you a 79% return on your dollar when it comes time to sell your house. In other words, you'll lose money by buying a house with an unfinished basement and finishing it yourself.  

Therefore, when you're buying a home, it's smarter to look for a house that already has a finished basement.  

Besides saving yourself time and money, which are pretty strong motivators in and of themselves, there are some other benefits to buying a home with a finished basement. Basements that aren't finished tend to get damp and moldy. They are often singularly unpleasant places to spend time, and can even become health hazards. 

Basements are naturally temperature controlled. They tend to stay warm in the winter and cool in the summer, which means that you'll spend less on heating and air conditioning if you spend your days hanging out downstairs.  

If you live in a tornado-prone area like the Midwest, finished basements are also a good place to take refuge from severe weather. Having to go downstairs during a storm can be frightening for a young child, and a pleasant, familiar atmosphere can help ease anxieties and make the experience more palatable for the entire family.  

A finished basement can also add extra living space to your house. Gone are the days when basements were only used for storage. A finished basement can be used for bedrooms, game rooms, laundry rooms, studies, living rooms, exercise rooms, even dining rooms. Or a finished basement can make a perfect apartment for a grandparent who can no longer live completely independently or for an adult child who has returned home.  

So when you buy your next piece of real estate, do yourself a favor and look for a home with a finished basement. Let someone else do all the work -- you can enjoy the benefits of their labor.  

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November 2007, newsletter

Shopping for a Home From Out of State:
5 Tips for Success 

There's no place like home. In our mobile society, though, the concept has changed quite a bit since Dorothy went from Oz back to the farm. If you are moving from one US state to another (preferably without being transported by either a tornado or red shoes)) here are a few tips to keep in mind that will help lead to success in shopping for a home in another state. 

Consider the Internet to be a Valuable Resource
When hoping to purchase real estate out of state, the Internet is a great tool to utilize. Since so many realtors are using the World Wide Web to advertise their listings, the Internet provides a great way for those buying a home in another state to peruse their options. Frequently the real estate websites will be full of informative details and pictures on various housing listings and one can view the options from the comfort of their own home. 

Consider the RELO Program
RELO is a wonderful resource to consider when shopping for a home from out of state. The program consists of a large number of reputable real estate agents and companies throughout the world and one can go to a local real estate agent whom they know and trust and see if they participate in this program. The RELO program pairs potential homebuyers up with real estate companies in their future location and helps them to find a home. 

Try to Plan a Home Shopping Trip to the New Location
If at all possible, it is important to try and plan a trip to the future location to check out local housing options. Although some may not want to pay the money for a plane ticket or take the time to drive there, it still is a wonderful way to see the options for yourself in person prior to buying a house there. Since pictures, realtors and the Internet can only do so much, seeing the possibilities in person still provides the best bet for future homebuyers. 

Ask for Recommendations from Friends and Family Members in the Future State
Recommendations are another great way to shop for a home from out of state. When buying a home in another state, if one has family or friends in that new location, asking their advice regarding the best neighborhoods, etc. may lead to a good buy in the end. 

Consider Contacting a Realtor in the New State
One should also consider contacting a realtor in the new state in order to aid them in their home buying ventures. There are different kinds of realtors and the National Association of Realtors recommends one who is a member of the local board of REALTORS as they have taken further steps in the real estate field and met certain requirements with regard to their profession over above simply becoming licensed in the state
 

  I f there is a certain topic you would like me to research for an upcoming article ---Please e-mail me your questions  DianeHall@Remax.net