You’ve decided to sell your Santa Clarita home.  You’ve placed it on the market, you’ve had several showings and now the offers are beginning to come in.  But, how do you know when to accept an offer and when to pass?   Ask yourself the following questions when considering an offer on your Santa Clarita home.  The answer may determine whether this is the offer you take or not.

Has the buyer been approved for a loan or are they just pre-qualified?
Pre-qualifying for a loan takes only minutes.  A pre-qualified buyer only knows what they can supposedly afford based on their income, debt and credit.  While this is a good place to start, it is NOT a guarantee that they will get a home loan.  On the other hand, an approved buyer has already gone through what can be a lengthy loan process and been approved to a specific amount.  It is heartbreaking to buy another home only to find out that the buyer of your previous home had their funding fall through.

Do you absolutely have to move and, if so, when?
You have a new job that means that you have to relocate your family to another city or state.  Your spouse has passed away, you are no longer able to maintain your mortgage payments by yourself and you want to move to be closer to your family.  You lost your job, are unable to make the mortgage payment anymore and are now facing foreclosure.  These are just some of the reasons you may need to move in a shorter amount of time than normal.  Because you need to be moved out before a specific time, you may have to consider lower offers in order to accommodate your time frame.

How much do you owe on your home loan?
Don’t forget to factor in the closing costs as well.  If you owe more than your house is worth, you may want to wait until that changes, if you are able to.

What is your local real estate market like?
Ask your Santa Clarita REALTOR® what comparable homes in the area are selling for, how many days they are typically on the market and if sellers are seeing multiple offers on their homes or not.  This can help you in determining what kinds of offers you can expect your home to bring in.

Is this offer reasonable or are the buyers trying to lowball you?
A seller who’s home has been on the market longer than the rest is more likely to see lower offers than newer listings.  When a home is on the market for a long time, buyers believe that the seller is desperate to sell and may be willing to accept an extremely low offer.  It is important to remember that you are not obligated to accept a lowball offer if you don’t want to.  However, if you are in dire straits and need to sell your home right away, you may want to at least consider a counter offer.

When it comes down to it, you need only accept any offers that work for you.  A REALTOR® can help you determine when to accept an offer and when to move on.  Please feel free to contact me with any questions you may have about your Santa Clarita real estate.

Ken Lee, Helping You Aspire to Santa Clarita Home Ownership

For the third year in a row, Santa Clarita Velo is hosting the Santa Clarita Century Ride on Saturday, April 2, 2011.  Santa Clarita Velo has been promoting a healthy lifestyle through bicycling throughout the Santa Clarita Valley for almost 20 years now.  The Century Ride will raise money for the Child & Family Center of Santa Clarita.  Santa Clarita Velo is hoping to surpass last year’s 500 participants who helped raise more than $18,000 for charity.

Unlike typical century rides that appeal to the more seasoned cyclist with over 100 miles to ride, the Santa Clarita Century Ride has something for everyone.  In addition to the 105 mile Century Ride, which roams through the Angeles National Forest, there will be a six mile Family Ride (using local bike paths), a 25 Mile Ride and a 58 mile Half-Century Ride.    Start times for each of the four rides are:

7:00am – Century Ride (includes 7000 ft of climbing)
8:00am – Half-Century Ride (includes 2400 ft of climbing)
9:30am – 25 Mile Ride (includes 1225 ft of climbing)
10:00am – Family Ride

All participants will begin and end their ride at the Bike Expo in the Westfield Valencia Town Center (26450 Santa McBean Pkwy).  Even if you don’t participate in the actual cycling, you can come to the Bike Expo to see bikes, local shops, bicycle gear and more.  If you do wish to participate in this fun event, you can pre-register now at the Santa Clarita Century website.  By pre-registering, you will not only receive support services, route slips, food and water, but you even get your own commemorative water bottle and T-Shirt.  These will be available at check-in on the day of the event.  Participants in the Family Ride need only pay $10 per adult.  Kids get to ride absolutely free.  Don’t worry if you don’t pre-register.  You can still participate by signing up at the event if you come early in the morning.

The Santa Clarita Century Ride was created so that the whole family could participate and enjoy.  Bugs Bunny and Daffy Duck will be making an appearance.  Bring the kids, pull on your bicycle shorts and come to the Westfield Valencia Town Center on Saturday, April 2, 2011 to help raise money for the Child & Family Center of Santa Clarita Valley.  Better yet, spend the day in soaking up the warm California sun and enjoying nature with your family.  Could it get any better?

Ken Lee, Helping You Aspire to Santa Clarita Home Ownership

On Wednesday, March 9, 2011, the new Santa Clarita Senior Transit Ambassador Program will begin.  With this volunteer program, the City wants to encourage Santa Clarita’s senior citizenry to use local transportation by having other senior residents explain how they can make the most out of the Santa Clarita transit system.  The first meeting will be from 9am to noon on Wednesday, March 9th at Santa Clarita’s City Hall (23920 Valencia Blvd). 

For many senior citizens, life can be confined if you have limited mobility.  Public transportation is a wonderful alternative to driving and there are more options than you may think.  Additionally, it is much less expensive to use Santa Clarita public transportation than to maintain a vehicle or pay for private transport, allows seniors to visit many places throughout the city or even make plans to go to surrounding areas as well as maintaining their sense of independence that can be robbed from them when their means of transportation is hindered.

If you are interested in becoming a volunteer for the Santa Clarita Senior Transit Ambassador Program, you will need to have the following qualifications:

1. Must be at least 60 years old.
2. Must be willing to attend meetings once a quarter.
3. Must be willing to commit to at least 12 months of ambassadorship.
4. Must have your own Senior Transit Access Pass ID card.

As an ambassador, you will be in charge of helping two to three other Santa Clarita senior citizens learn how to use the public transportation system to their advantage every month.  You will be helping others like you increase their quality of life by expanding their options.  You will also be able to let them know that public transportation is neither scary nor complicated and well worth it.  If this all sounds great to you, simply pick up an application at the Santa Clarita Valley Senior Center’s lobby (22900 Market St).  For more information on the program, you can call Patrick Bryant at 661-295-6304 or visit Santa Clarita’s Transit website.

The Santa Clarita Senior Transit Ambassador Program is perfect for Santa Clarita’s senior residents who wish to help other seniors find ways to maintain a healthy, well-rounded existence as well as keep their independence as they grow older.  What a wonderful way to meet new people and help your community at the same time!

Ken Lee, Helping You Aspire to Santa Clarita Home Ownership

Spring is the prime time to put your home on the market.  Therefore, I have some home improvement tips for homeowners this spring season that will help you get your home sold quickly and for the price you want.

Spring signals the end of winter and this means it’s time to take care of needed repairs around the home.  The winter’s harsh weather can leave its mark on your home – the snow or cold and rain can leave extensive damage that will have to be dealt with before you put your home on the market.

Home improvement tips for the spring season:

* Repair Damaged Roofing – Many times, your home can have roof damage and you may not notice it for months.  Look for signs of water stains on the interior of your home.  Also, check the roof for torn or missing shingles.  If you are unable to make the repairs yourself, hire a contractor to do the work for you.

* Fix Water-Stained Ceilings – If you find water stains on your ceilings or walls, you will need to properly prepare those areas for fresh paint.  Using sealer will help seal and cover the stain completely.  In some cases, you may have to repaint the entire ceiling or the entire room.

* Repair Damaged Siding – Check over the exterior of your home for siding damage.  If you discover areas of the home are damaged from rain, snow or extremely cold temperatures, you should make repairs right away.  In some cases, you may need to hire a contractor to do the work.

* Cleaning Gutters and Downspouts – More often than not, interior water damage is caused by clogged rain gutters and downspouts.  Beautiful spring weather provides the best opportunity for cleaning them out.

* Dry Out Basement and Crawlspace Flooding – If your basement or crawlspace flooded during bad weather, it is extremely important to dry it out to help prevent the growth of mold.  There are services like Paul Davis Emergency Services around the nation that specialize in water mitigation and mold remediation if you need it.

* Installing New Weatherstripping – Weatherstripping is mainly used to help reduce energy loss, but it is also used to prevent water leakage around windows and doors.  If your weatherstripping is missing or damaged, replace it with new stripping.  It is one of the most affordable repairs you can make around the home.

* Repair Damaged or Rotted Woodwork – Whether it’s wooden decks or wooden windows, rot can quickly set in when moisture is left too long.  Replace rotted wood if it’s too extensive to repair and repair what you can if the rot has not gone too far.

* Servicing Your Air Conditioner – Each season, it is important to have your unit serviced.  The beginning of spring is the perfect time to have your A/C serviced to make sure it will work at its optimal level throughout the summer months.

As anyone who has ever bought, sold or rented a home can tell you, moving day can be a very stressful experience.  It’s not just the adults that find it difficult, but the children and pets as well.  There are ways to make your transition from your old Santa Clarita home into your new Santa Clarita home go much more smoothly.  That’s why I’ve compiled this helpful list of how to prepare for moving day.

1. Plan Ahead – Sounds simple but, by planning ahead, you can have a better understanding of what to expect when it comes time to move.  Packing can take more time AND more boxes than you might think.  Make sure your plans include a schedule to keep you and your family on task.
2. What Does the Mover Move? – When using a professional moving company, you will have an easier time getting an exact quote if you have a list of all the items you want them to move in front of you when you call.  It also provides a great work list for them when they come to get your stuff.
3. Shop Around – Definitely check out the rates of several different movers.  All moving companies have different criteria, experience and pricing structure.  Just because they’re cheap doesn’t mean they are the best.  Just because they are more expensive doesn’t mean they have more experience.  Ask your friends, family and co-workers who they have used and if they were satisfied with their choice.
4. What Do You Move? – Even when using a moving company, there may be certain items you wish to move yourself (ie, heirlooms, personal items, valuables, etc).  Make sure that all important documents, prescriptions and everyday toiletries are kept with you at all times and marked appropriately so you don’t lose track of them.
5. Daycare - For parents and animal owners, it is well worth the investment to have your children and pets watched off-site while the moving process is going on.  It’s hard to stay on task if the kids and dogs are under foot.
6. Garage Sale/Giveaway – As you begin packing, take a moment to decide if the item you are putting in the box is something you actually want to keep or get rid of.  Garage sales are great ways to get rid of things you no longer use and make a little cash in the process.  If it doesn’t sell, consider giving it away to the Salvation Army, Goodwill or other like charity as long as it is in good condition.  You’ll even get a write-off at tax time for it.
7. Packing – Pack like items with like items.  Put all clothing together, dishes and other kitchenware together (including dish cloths and towels), bathroom contents, etc.  Make sure to write what room the items are going in on several sides of the outside of the box in big letters with a black marker so it is easily identifiable.  If the articles inside the box are easily breakable, write “FRAGILE” in big letters on the outside of the box several times as well.
8. Final Walk-Through – After everything is packed up and on the truck, make a final walk-through of your Santa Clarita home to make sure you haven’t forgotten anything.  Open all cabinets and pull out the drawers.  You may even want to have someone else go through the house after you in case you missed something as well.

Following these guidelines will help you to prepare for moving day and make it much less stressful.  If you are looking for your next Santa Clarita home or need help selling your current one, please let me know.

Ken Lee, Helping You Aspire to Santa Clarita Home Ownership

You’ve decided that you want to sell your Santa Clarita home.  So, you get it cleaned up, make necessary repairs and decide to get an appraisal of your home’s value before you place it on the market (like every good seller should).   Has this got you wondering what the role of an appraisal is in the selling process? 

Why get an appraisal when selling?  When you bought your home, you wanted to make sure that it was worth at least what the seller was asking for it.  As a seller, you want to make sure you price your Santa Clarita home appropriately as well.  If you over-price it, your home may end up sitting on the market for much longer than necessary.

Get a qualified appraiser.  When the lender sends an appraiser to your home, make sure they are properly certified (SRA, SRPA or MAI).  The cheapest appraiser does not necessarily mean they are qualified.

Be present at the appraisal.  This may not always be possible.  But it doesn’t hurt to ask.  By being an active participant, you will become more educated in the process as well as have the opportunity to catch any errors made.

Get a copy.  You are legally entitled to a copy of the appraisal within 30 days.

Examine your copy of the appraisal thoroughly.  Make sure that all the information on the report (square footage, concessions, etc) is true to your knowledge.  If you have a question, make sure to ask the appraiser for clarification.

Appeal any errors.  If you find errors in the appraisal or believe that the local Santa Clarita market has changed dramatically since the appraisal was done, changing the findings, contact the appraiser.

Get a second opinion.  Hire another qualified appraiser to complete a new appraisal on your property, especially if you are unsatisfied with the first.

Complaints.  If you have a legitimate complaint about an appraiser or their findings and cannot resolve them with the individual or company, file your complaints with the appropriate state or county agency.  You can contact the Los Angeles County Office of the Assessor for more information.

Appraisals aren’t only a valuable tool for buyers.  They play a role in the selling process as well.  You can always contact me to find out more about how an appraisal can help you sell your Santa Clarita home.

Ken Lee, Helping You Aspire to Santa Clarita Home Ownership

Santa Clarita housing prices have come down to more affordable levels.  Interest rates are at historic lows.  Inventory is plentiful.  You’ve decided that now is definitely the time to purchase your dream California home.  But, do you find yourself asking “How much home can I afford?”  Here are some factors you will need to consider before you begin your home search:

• Steady Employment – Lenders aren’t looking only at how much you make.  If you can show that you have been employed steadily over the past several years with your employer, mortgage companies feel more secure about your ability to make your mortgage payments for several years to come.
• Credit Score – Over your adult life, you have created a credit score based on your payment history with everything from credit cards to student loans to car loans and more.  Credit reporting companies take the amount of credit you have extended, how much you are using, how much is available, how often you have made payments on time and how often you have been late to determine your FICO score.  This score can range anywhere from 300 (the worst score you can get) all the way up to 850 (a perfect credit score).   Lenders use your FICO score to determine how credit-worthy you are.  The higher your score, the lower your interest rate.  The lower your interest rate, the lower your mortgage payment and the less your mortgage will cost you over the life of the loan.  Check your credit report to make sure there are no errors that will create a lower score.  If there are, get them fixed BEFORE you apply for a home loan.
• Dependents – This doesn’t apply only to the children you have living at home, but includes any elderly relatives (parents, grandparents) you are financially responsible for as well.  When budgeting the amount you can afford to spend on your Santa Clarita home, remember to factor in costs such as day care, school tuition and medical bills.
• Location, Location, Location – It’s a mantra you hear often, but where you decide to purchase your Santa Clarita home is important.  Prices can vary widely from neighborhood to neighborhood within a single city.  Check with your real estate professional to see how homes are priced in the communities you are interested in.
• Your Savings Account – Many financial experts agree that a downpayment of at least 20% of the cost of a home is smart.  How much is that exactly?  If you’re looking at a Santa Clarita home with a list price of $400,000, you will need a downpayment of $80,000.
• Current Interest Rate – As of the writing of this post, the current interest rate for someone with good credit is 4.99% on a 30-year fixed-rate mortgage.  These rates, however, can change from day to day.  Speak with your Santa Clarita REALTOR® to find out what interest rate you qualify for and how to lock that rate in.

When you find yourself asking “how much home can I afford“, make sure to contact an experienced agent specializing in your real estate market to help you out.  The answer to that questions will help make your Santa Clarita home purchase happen much more smoothly.

Ken Lee, Helping You Aspire to Santa Clarita Home Ownership