Michael Roberts' Blog -San Jose Homes, Real Estate and Houses for Sale » Michael Roberts

Get More Drive Byes with 5 Curb Appeal Killers

Michael Roberts — Sat, 20 Feb 2010 06:50:16 +0000

You won’t sell your home in Los Gatos, San Jose or Phoenix for that matter, if you can’t get the potential home buyer to the front door. Homes for sale, regardless if they are short sales, must look neat and tidy!

When they drive up to your for sale sign will they still want to come in?

Those potential buyers will become drive bye byes if….

Lawn is overgrown and there is cheezy yard art everywhere
Weeds are growing in the flower beds and around the walkways
When the door is being opened it squeaks and the paint is old
The paint is peeling and cobwebs have taken over
The Doorbell is hanging off the wall or doesn’t ring

It is so very simple to overcome these curb appeal Killers if you want to sell your home!

Here are a few suggestions of how you can take care of these 5 deal breakers for little or no money. Get those home buyers in the door!

An overgrown lawn should be mowed and edged properly.

Remove any lawn art, Holiday decorations, Beware of Dog and I love Cats signs. Pets can be a deal breaker for some home buyers and your Realtor can help you address this in a better way.

Pull weeds along walkways and flower beds and dispose of them.

Leaving the dead weeds in a pile somewhere after you pull them is actually worse than pulling them at all. It leaves the impression that you don’t follow through. So get rid of them!

Repair a sticky or squeaky door and paint it.

WD 40 will usually fix a squeaky door. Spray hinges lightly while you swing the door back and forth to help it get deep into the hinge mechanism.

A sticky door can be a bit more technical, but a little common sense and some time is all it takes. Look carefully where the door contacts the frame to find any rub marks. Usually, a good scraping off of old built up paint will do the trick. Check the latch to see if the strike plate is out of alignment. The strike plate is the small plate on the frame where the bolt enters. Adjust it if necessary. Are the hinges tightly screwed in? No? Choose the right screwdriver and tighten them. Now Paint!

Painting is easy! A light sanding and a patiently applied coat of white or an accent color will bring a bang to the entry! Caution: Paint won’t stick to WD40 so you should wash areas where you sprayed it with a little alcohol swab.

Broom away cobwebs followed by a good washing of the front and touch up peeling paint.

Washing the front with a power nozzle attached to your garden hose, before removing cobwebs, will only make it worse so, brush them away first. Peeling paint is an easy fix! Scrape away loose paint and simply apply a light coat of fresh paint. If matching the color is difficult paint larger areas from a corner to the nearest opposite corner or trim board to trim board.

Does the doorbell work? Is it attached to the wall?

When a doorbell doesn’t work it can be for a number of reasons. Doorbells are powered by low voltage, so there is no reason to fear electrical shock. Remove cover plate and look to see if the wire is connected. Reconnect wire if necessary and reattach it. Here is a simple ‘one move fix’ to cover all the reasons it may not work. Go to your local Lowes or Home Depot and ask for a wireless doorbell. These are easily attached and there are no wires to fiddle with.

Want to take it all up a notch? Add color. In most every gardening center or department you will find what is called a color bowl. These are filled with bright flowers and soft green fillers. Strategically placed along boring walkways or a bland porch can really add some attractive flavor. Tip: Always work with odd numbers 3s, 5s and 7s. Using odd numbers of plantings always appears more natural.

A large new welcome mat, placed at the entry to your home for sale, will make home buyers feel more welcome and it also gives a sense of ‘new’. What can buyers expect when they enter?

15175 El Gato Ln and 17250 Pine St Los Gatos and 228 Calle Marguerita

Michael Roberts — Fri, 19 Feb 2010 16:52:08 +0000

Wow! These are my 3 picks of the weekend for Los Gatos Homes for sale. New Home Buyers will find they have all the best things to offer.

Some lucky folks are going to be new homeowners in Los Gatos!

Great prices and locations are just the beginning. 17250 Pine St.Los Gatos is a short sale, I know, Yuk. Not really! Look what the fundamentals look like…

Schools: Great! Location: Great! Price: Amazing!

Use ‘the proper strategy and be prepared for a few bumps’ is the bargain hunters code. One may be a foreclosure one a short sale, however what would expect a bargain to look like?

Los Gatos is a tough area to find affordable homes and these 3 are a step in the right direction. Preparing for an opportunity equates to good luck, right?

The 2nd homes for sale in Los Gatos is 15175 El Gato and the 3rd house for sale in Los Gatos that I see as a great first time buy er pick is 228 Calle Marquerita.

26180 Hi 9 Los Gatos House for Sale

Michael Roberts — Sat, 06 Feb 2010 05:10:26 +0000

HUD Short Sale Guidelines

Michael Roberts — Thu, 28 Jan 2010 14:59:53 +0000

Do you own a HUD-FHA financed home, and need to do a Short Sale? Here is a summary of the requirements to perform an FHA-insured HUD shortsale or “Pre-Foreclosure” Sale:

You must be delinquent 31 days or more delinquent at the time of sale.
You must list the property with an un-related Licensed Real Estate Broker
You must actively market the property for four months (up to six).For the first 30 days of marketing, the short sale lender (mortgagee) may only approve offers that will result in a minimum net sale proceeds of 88% of the “as-is” appraised Fair Market Value (FMV). During the next 30 days of marketing, the lender may only approve offers that will result in minimum net sale proceeds of 86% of the “as-is” appraised FMV. For the rest of the marketing time (60 days), the lender may only approve offers that will result in minimum net sale proceeds of 84% of the “as-is” appraised FMV.
The property must be an owner-occupied, except for cases of job transfer, death, divorce, job loss
There should be written proof of your decrease in income showing inability to pay the mortgage, job loss, etc.
HUD will pay up to 1% of buyer’s mortgage as part of closing costs if the new mortgage is also FHA, plus reasonable “seller” costs
HUD allows 6% Realtor commission
HUD will not pay for Home Warranties, points or lender’s title insurance
You must get approval to participate in the HUD Pre-Foreclosure Sale Program in advance
Upon acceptance into the program, you will be given Approval To Participate Form which will outline program restrictions

There are a number of basic short sale faqs not addressed here. This HUD guideline sets some of the story straight though. For more FAQs read this.

Selling your House? How Could You?

Michael Roberts — Wed, 20 Jan 2010 01:57:26 +0000

Your neighbor Harry, the one that never shaves and causes you to wonder if he knows that there are still department stores that sell pants that fit, you know who I am talking about. Harry will be the first one at your door telling you how much he is going to miss you when you move away.

Away. From Harry.

Maybe you should buy a home in Los Gatos or West San jose. is that far enough? Cambrian sounds pretty good. You need to sell your house first though.

You have decided you are going to save money and do it yourself. More money for you will help you get further from Harry. So, where do you start?

Figuring out what your house is worth is probably what you are thinking. Not exactly… and…. yes, it is. Better be quick. Harry is getting really Buddy-Buddy since he learned you are selling your house. Saving that 6% Realtor fee should help get it done faster.

Think about it. You have more room to negotiate!

Do you have experience selecting the prospect pool or knowledge of tested marketing techniques? How about relationships with hundreds of Realtors who have buyers that are best suited, qualified and ready to buy your home? Probably not. But…Harry would love to give you his 2 cents. 2 cents you don’t need.

Selling a house is more of an art than a science.

You are smart though. You can learn, right? You are smart enough to read marketing flyers, read other listing comments, you can get tips from a Real Estate forums about how to negotiate sales price and terms etc. Great. Except half of what you learn will be wrong. About as wrong as Harry’s 2 cents.

I would bet only 1% of what you read will be usable. The fact is, 80% of homes sold are sold by less than 2% of all the real estate agents. That means most of what you read will be sourced from 98% of Realtors who are listing homes that will eventually be sold by, you guessed it, the other 2%.

Can you compete with professionals of that caliber?

To be frank, yes, many homes do sell when listed for sale by owner.

The statistics for those sales are very poor though. If a ‘Realtor Listed’ home will sell faster for more $$$, even after all Realtor costs are deducted, why wouldn’t you hire a full time professional?

In the coming days I am going to present a series of articles to help guide you through the morass.

You won’t have to feel sorry for lonely Harry either. He will be as happy to see your house sold as you are to say goodbye to old Harry. Maybe that house you saw for sale in Los Gatos is closer than you think!

Los Gatos Homes and Real Estate Had 2 New Sales

Michael Roberts — Mon, 18 Jan 2010 06:02:07 +0000

These two Los Gatos homes for sale prove that a listing price is rarely a selling price in our Real Estate market. We are at a crossroads. It just isn’t what you might think;

131 Millrich Dr. this Los Gatos house sold for nearly 1% less than the asking and 411 Clearview Dr., a townhome, sold for nearly 5% over the listing price !

A reminder that ’sweet spotting’ your asking price will always pay off.

The good news….neither property was a short sale.

2 Los Gatos Houses sold this week,

131 MILLRICH DR, Los Gatos 95030 (Los Gatos)Single Family Home 3 bed(s) Baths: 4|1 bath(s) SqFt: 2,593 Lot: 9,100 sq ft

List Price: $1,449,000 Sold Price $1,332,000.00

______________________________________________________

411 CLEARVIEW DR, Los Gatos 95032 (Los Gatos)Townhouse 3 Beds, 2|1 Baths: SqFt: 2,122 Lot: 2,220 sq ft

List Price: $749,000 Sale Price: $780,000

Assoc. Fee: $428

We see a crossroads ahead…one where the buyers in the Los Gatos Real Estate Market aren’t in the driver’s seat. Could this mean the homes for sale are in a Seller’s market?

Remember…

Spring is coming and the end of the $8000 First time buyer’s credit is there waiting. I wonder if will lead to more vigorous sales?…bidding?

Bulletin: Hammer is Coming Down for 15 Lenders

Michael Roberts — Mon, 18 Jan 2010 02:10:22 +0000

It looks increasingly obvious the problems for some lenders are going to get a lot worse.

Rismedia reported this weekend…

The Department of Housing and Urban Development (HUD) said it’s taking a closer look at 15 mortgage companies to determine why they had such high rates of problems with FHA insured mortgages.

Can I answer that? Lending to anyone who could fog a mirror tends to do that. I told you Fannie Mae was getting a spanking before this new investigation.

“Each loan on this list will be thoroughly examined and we will track down the reasons why it failed. Once we determine the causes, we will look to see whether there is a need for further review or remedial action. We want to send a message to the industry that as the mortgage landscape has shifted, we are watching very carefully and that we are poised to take action against bad performers,” Donohue said.

I wonder if this has anything to do with the fact Fannie Mae is approving foreclosure without notifying banks.

I don’t think Ken Donahue has tried to actually apply for a Home Purchase loan lately. In our local Los Gatos and Santa Clara County Real Estate market it is very difficult. The symptoms have passed.

I am glad to see someone is checking up, but if it does not relieve distressed markets, DON’T BOTHER! It’s glaringly obvious focus on future Real Estate recovery measures, rather than looking back, is the best medicine.

Below are the companies that received subpoenas from HUD’s Office of Inspector General:

-First Tennessee Bank N.A., Memphis, Tenn.
-Alethes LLC, Lakeway, Texas
-Security Atlantic Mortgage Co., Edison, N.J.
-Pine State Mortgage Corporation, Atlanta.
-Birmingham Bancorp Mortgage Corporation, West Bloomfield, Mich.
-Alacrity Financial Services, LLC, Southlake, Texas
-Assurity Financial Services, LLC, Englewood, Colo.
-D and R Mortgage Corporation, Farmington, Mich.
-Webster Bank, Cheshire, Conn.
-Mac-Clair Mortgage Corporation, Flint, Mich.
-Americare Investment Group, Inc., Arlington, Texas
-1st Advantage Mortgage, Lombard, Ill.
-American Sterling Bank, Independence, Mo.
-Sterling National Mortgage Company Inc., Great Neck, N.Y.
-Dell Franklin Financial LLC, Columbia, Md.

I bet these companies end up walking away from the testimony with more bailout money. Want to bet?

First Time Buyer Credit Forms Just Realeased:IRS

Michael Roberts — Sat, 16 Jan 2010 06:32:54 +0000

The program was originally designed for First Time Buyers only. With the extension of the tax credit came some other great news. Just released today was the new IRS form for attachment to your tax filing. Los Gatos home buyers should be attaching this form when filing.

The new law allows a long-time resident of the same main home to claim the homebuyer credit if they purchase a new principal residence. To qualify, eligible taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. The IRS has stepped up compliance checks involving the homebuyer credit, and it encouraged homebuyers claiming this part of the credit to avoid refund delays by attaching documentation covering the five-consecutive-year period.

what you can and cannot deduct as a homeowner

Get your taxes done FREE

Great short Video Explanation of Credit

The 88 Real Estate Perils and Pitfalls Contest!

Michael Roberts — Thu, 14 Jan 2010 07:09:37 +0000

Prize: $100 Haitian Victim Relief Donation.

Create a Quip Contest! Choose One of the Perils and Create a Quip Contest.

Pick a Peril from the list below, create a quip and post it as a comment below. We will take a community vote at the end of the month.

The winner will have a $100.00 donation made, in their name, to their favorite charity helping the Haitian earthquake victims!

David Letterman announced where donations can be made directly.

You can text to 90999 and enter Haiti to make a $10 donationtoo.

2 silly Contest Examples:

Why do transactions fail?

8. Applicant makes large purchase on credit before closing.

Quip: At least the store was still open.

9. Illness, injury, divorce or other financial setback during escrow.

Quip: You should know better! Mom warned you about escrowing!

Help others! Choose one of the 88 snags -below the video – and create a quip then post it in the comment section below. It’s Easy and will help someone in need. Do It Now! Please.

Pick Your comment to create a quip…

Things That Might Go Wrong During Your Transaction

The Buyer/Borrower:

1. Does not tell the truth on loan application.

2. Has recent late payments on credit report.

3. Finds out about additional debt after loan application.

4. Borrower loses job.

5. Coborrower loses job.

6. Income verification lower than what was stated on loan application.

7. Overtime income not allowed by underwriter for qualifying.

8. Applicant makes large purchase on credit before closing.

9. Illness, injury, divorce or other financial setback during escrow.

10. Lacks motivation.

11. Gift donor changes mind.

12. Cannot locate divorce decree.

13. Cannot locate petition or discharge of bankruptcy.

14. Cannot locate tax returns.

15. Cannot locate bank statements.

16. Difficulty in obtaining verification of rent.

17. Interest rate increases and borrower no longer qualifies.

18. Loan program changes with higher rates, points and fees.

19. Child support not disclosed on application.

20. Bankruptcy within the last two years.

21. Mortgage payment is double the previous housing payment.

22. Borrower/coborrower does not have steady two-year employment history.

23. Borrower brings in handwritten pay stubs.

24. Borrower switches to job with a probation period.

25. Borrower switches from job with salary to 100% commission income.

26. Borrower/coborrower/seller dies.

27. Buyer is too picky about property in price range they can afford.

28. Buyer feels the house is misrepresented.

29. Veterans DD214 form not available.

30. Buyer comes up short of money at closing.

31. Buyer does not properly “paper trail” additional money that comes from gifts, loans, etc.

32. Buyer does not bring cashier’s check to title company for closing costs and down payment.

The Seller:

33. Loses motivation to sell (job transfer does not go through, reconciles marriage, etc.).

34. Cannot find a suitable replacement property.35. Will not allow appraiser inside home.

36. Will not allow inspectors inside home in a timely manner.

37. Removes property from the premises the buyer believed was included.

38. Cannot clear up liens – is short on cash to close.

39. Did not own 100% of property as previously disclosed.

40. Encounters problems getting partners’ signatures.

41. Leaves town without giving anyone Power of Attorney.

42. Delays the projected move-out date.

43. Did not complete the repairs agreed to in contract.

44. Seller’s home goes into foreclosure during escrow.

45. Misrepresents information about home and neighborhood.

46. Does not disclose all hidden or unknown defects and they are subsequently discovered.

The Realtor(s):

47. Has no client control over buyers or sellers.

48. Delays access to property for inspection and appraisals.

49. Does not get completed paperwork to the Lender in time.

50. Inexperienced in this type of property transaction.

51. Takes unexpected time off during transaction and can’t be reached.

52. Misleads other parties to the transaction – has huge ego.

53. Does not do sufficient homework on their clients or the property and wastes everyone’s time.

The Lender(s):

54. Does not properly pre-qualify the borrower.

55. Wants property repaired prior to closing.

56. The market raises rates, points or costs.

57. Borrower does not qualify because of a late addition of information.

58. Lender requires a last-minute second appraisal or other documents.

59. Lender loses a form or misplaces entire file.

60. Lender doesn’t simultaneously ask for all needed information.

61. Lender doesn’t fund loan in time for close.

The Property:

62. County will not approve septic system or well.

63. Termite report reveals substantial damage and seller is not willing to fix.

64. Home was misrepresented as to size and condition.

65. Home is destroyed prior to closing. my favorite.

66. Home is not structurally sound.

67. Home is uninsurable for homeowner’s insurance.

68. Property incorrectly zoned.

69. Portion of home sits on neighbor’s property.

70. Unique home and comparable properties for appraisal difficult to find.

The Escrow/Title Company:

71. Fails to notify lender/agents of unsigned or unreturned documents.

72. Fails to obtain information from beneficiaries, lien holders, insurance companies or Lenders in a timely manner.

73. Lets principals leave town without getting all necessary signatures.

74. Loses or incorrectly prepares paperwork.

75. Does not pass on valuable information quickly enough.

76. Does not coordinate well, so that many items can be done simultaneously.

77. Does not bend the rules on small problems.

78. Finds liens or other title problems at the last minute.

The Appraiser:

79. Is not local and misunderstands the market.

80. Is too busy to complete the appraisal on schedule.

81. No comparable sales are available.

82. Is not on the Lender’s “approved list.”

83. Makes important mistakes on appraisal and brings in value too low.

84. Lender requires a second or “review” appraisal.

Inspectors:

85. Pest inspector not available when needed.

86. Pest inspector too picky about condition of property.

87. Home inspector not available when needed.

88. Inspection reports

What 10 Things Do You Need at Your House Before an Earthquake?

Michael Roberts — Wed, 13 Jan 2010 00:12:43 +0000

The Haitian earthquake reminded me of the 1989 Loma Prieta earthquake and how hard it hit Los Gatos. I was lucky no one I knew was hurt. I only had to fix a cracked coupling on my grandmothers gas pipe in the Carlton Meadows neighborhood where she lived.

Think ahead!

I added a couple of links below this post to help you obtain the items discussed here.

‘Safe Up’ your home by addressing these 10 things.

Make sure shelves are fastened securely to the walls.
Place large, heavy objects on lower shelves or on the floor. They might fall. You can also screw them onto things, such as on desks.
Place breakable items (bottles, glass, china, etc.) in closed cabinets that have latches. Make sure to board them up so that the cabinet doors won’t fly open.
Heavy pictures and mirrors should be hung away from beds, couches, and anywhere that someone might sit.
Overhead light fixtures should be braced to prevent falling.
Evaluate your electrical wiring and gas connections and repair if needed. During an earthquake, these can become potential fire hazards. Additionally, turn them off and unplug them, so the outlet is not neat the metal part of the cord.
Secure your water heater by strapping it to wall studs (not just the drywall) and bolting it to the floor.
If you have any deep cracks in the ceiling or foundations, repair these immediately. You might need to consult an expert if there are signs of structural weakness.
Store flammable products in closed cabinets with latches on the bottom shelf.
Prepare a Grab Bag

Have you ever watched a spy movie or the TV series “24″?

Every good spy has what is called a ‘Grab Bag’. This is a bag you can grab on the run in an emergency. Your Grab Bag should have these items in it. If one bag is too heavy have 2 or put heavy stuff in your car trunk.

Gather these disaster supplies to place in your ‘Grab Bag’.

Flashlight light with extra batteries (preferably one for each individual)Portable, battery-operated radio with extra batteries
Purchase and use “Self Powered Radios” and “Self Powered Flashlights”. Batteries will be hard to find, if you can find them. Some models will charge cell phones, but the cell phone towers may be damaged, even destroyed.
Purchase and use “Glow Sticks”. These are SAFER than candles, since you will be dealing with ruptured gas lines, flammable, explosive gas.
First aid kit and manual
Emergency food and water (some sources say you should have up to 2 weeks worth of extra food on hand in case rescue workers cannot reach your location)
Nonelectric can opener
Essential medicines
Cash and credit cards
Sturdy shoes for each family member

Home Survival kits

Car Earthquake kits