Holding Open Houses.

Holding Open Houses

Home selling is somtetimes doing the things you really do not have to do, but have to do it anyways to get the job done, or to fulfill your committment to the seller. I personally am NOT a big fan of Holding Open Houses. But I am holding an Open House today anyways! In Sales, sometimes you have to do things out of your comfort zone . Open Houses are a great way to expose the home to potential buyers,, they may buy it on the spot!.  Open houses are also a great way to meet new sellers, from that very neighborhood! One of the best reasons to hold Open houses is to meet, help and guide new Buyers. Many of the buyers that visit the open houses are new to the area or neighborhood, wanting information or the price trends, conditions, schools, etc. If buyers or potential buyers take their time in hte weekends to attend an Open house,  they may have some interest or them may know someone that is wiling to buy or sell in the near Future. Not everyone you meet at the open house will end up doing business with you. You are looking for that one motivated buyer or seller that will connect with, trust with you and end up doing business with you. Open houses have been around since 100’s of years, and are here to stay.  I will enjoy my open house today and look forward to meeting with buyers and sellers.

Mahesh Mike Patel  Prudential Ca Realty      

   www.MikePatel.com           Search Homes Like An Agent    Dream Home Finder

   

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Holding Open Houses

Holding Open Houses

Home selling is somtetimes doing the things you really do not have to do, but have to do it anyways to get the job done, or to fulfill your committment to the seller. I personally am NOT a big fan of Holding Open Houses. But I am holding an Open House today anyways! In Sales, sometimes you have to do things out of your comfort zone . Open Houses are a great way to expose the home to potential buyers,, they may buy it on the spot!.  Open houses are also a great way to meet new sellers, from that very neighborhood! One of the best reasons to hold Open houses is to meet, help and guide new Buyers. Many of the buyers that visit the open houses are new to the area or neighborhood, wanting information or the price trends, conditions, schools, etc. If buyers or potential buyers take their time in hte weekends to attend an Open house,  they may have some interest or them may know someone that is wiling to buy or sell in the near Future. Not everyone you meet at the open house will end up doing business with you. You are looking for that one motivated buyer or seller that will connect with, trust with you and end up doing business with you. Open houses have been around since 100’s of years, and are here to stay.  I will enjoy my open house today and look forward to meeting with buyers and sellers.

Mahesh Mike Patel  Prudential Ca Realty      

   www.MikePatel.com           Search Homes Like An Agent    Dream Home Finder

   

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10 Reasons To Sell Your Home During The Holidays

10 Reasons To Sell Your Home During The Holidays

Many sellers put off selling their homes during the End of the Year Holidays. There are always serious buyers who want to buy at the end of the year for various reason.

Here are 10 reasons why you may want to sell during the Holidays.

1.  Houses show better when decorated for the Holidays!

2. People who look for a home during the Holidays are more serious.

3. Buyers have more time to look for a home during the Holidays than they do during a work week.

4.Some people must buy before the end of the year for tax reason.

5.  You can still be on the market, but you can have the option to restrict showings during the 6 or 7 days during the Holidays.

 6.  Serious buyers have fewer homes to choose from during the Holidays and less competition means more money for the seller.

7.  Buyers are more emotional during the Holidays, so they are more likely to pay your price, assuming it is with the market price.

8.  You can sell now for more money and be able to provide for a delayed closing or extended occupancy untill after the Holidays.

9.  January is traditionally the month for employees to begin new jobs. Since transferees cannot wati till Spring to  buy, sellers must be on the market now to capture that market.

Mahesh Mike Patel  Prudential Ca Realty      

   www.MikePatel.com           Search Homes Like An Agent    Dream Home Finder

   

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Fed set for landmark move to prime US economy

 Fed Set For landmark Move to Prime US Economy

The Fed is trying hard to get the US economy going. Here is a message our Prudential Office received from our Owner Rich Cosner, Prudential Ca Realty, Anaheim Hills, Ca:

Hopefully, all of you have already voted today or certainly will vote by the end of the day. I personally believe that all the negative campaigning on both sides has depressed everyone. Without these ads running, people will start to see some bright spots which are just around the corner.

 When Japan went through a depressed economy, they now realize that Japan’s Central Bank did not take the appropriate moves to rejuvenate their economy and that period of time is now called the “lost decade.” Our Federal Reserve is not going to make the same mistake. Whether you believe printing money is good or not, it certainly will have a stimulative effect on our economy. That will be great for real estate. It likely will lower already historically low interest rates and it will bring inflation back into the picture. Inflation will increase everyones house values. If you have  a low fixed rate mortgage with inflation raising your home value every year, it is a dream come true.  What happens next? The masses of people will see home prices rising, the media reports this as big news and wave after wave of buyers will rush into the market.

 This is a huge opportunity for your buyers: How do you explain the opportunity?

 1.    Lowest interest rates since Dwight Eisenhower was president in the early 50’s

2.    Lowest prices in California in a decade

3.    Inflation just around the corner to lift those prices

4.    Rising prices will bring all the potential buyers flooding into the market to get in the game before they get priced out.

5.    Waves of buyers will cause appreciation to happen, in addition to the inflation, raising prices further.

 This is the scenario you will see over the next year or so. Please take the time to read the article in the link below which came from Yahoo.com   News

http://news.yahoo.com/s/afp/20101102/ts_alt_afp/useconomybankrate_20101102181023

_________________ 

Mahesh Mike Patel  Prudential Ca Realty      

   www.MikePatel.com           Search Homes Like An Agent    Dream Home Finder

   

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First Time Home Buyers and FHA Loans

 First Time Home Buyers and FHA Loans

 FHA (Federal Housing Administration) loans are Government sponsored loans geared mainly towards the First time home buyers, though it is available for any loans.  These loans are easier to qualify for compared to the conventional loans. More information can be found on the loans at Hud.gov and FHA.gov

One of the recent changes that have taken place on these loans are the requirement of the conditions of the home being purchased. FHA takes health and safety issues seriously and aims to ensure that our borrowers are purchasing a home that meets all FHA requirements. The following is an itemized list of items that will be required to be repaired if any health and safety issues are noted by the appraiser or discovered by the underwriter. 

1. Missing handrails. 

2. Cracked windows.

3. Defective paint surface in homes constructed prior to 1978.  

4. Minor plumbing leaks. 

5. Evidence of previous(non-active) wood destroying pest/organism damage where there is of  structural damage.  

6. Damaged plaster, sheet rock or other wall and ceiling materials in homes constructed pre- 1978.

7. Trip hazards.    8. Crawl space with debris and trash.

9. Inadequate access/egress from bedrooms to exterior of home. 

10.Leaking or worn out roofs. If 3 or more layers of shingles exist on a leaking/worn out roof, all shingles must be removed prior to reproofing.   

11.Evidence of structural problems.  

12. Window bars in bedrooms require quick release latches.

13. Defective exterior paint surfaces in homes constructed post – 1978 where the finish is unprotected.

Please refer to the FHA.org or Hud.gov website for detailed and updated requirements. You are always welcome to contact me for Frist time Buyers Loans and Home Purchase. questions or for more information.

Mahesh Mike Patel  Prudential Ca Realty         www.MikePatel.com           Search Homes Like An Agent

   

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Weekly Real Estate Video Update Oct 19th, 2010

The market is still ever changing. Last weeks news is this weeks history.

What is Bank of America upto this week! 
What you are hearing from the mainstream national media about Real Estate is only one small part of the story.

Here is the link to my Video Newsletter: for the latest.

http://www.patelsupdate.com

My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include:

Current Real Estate News
Interest Rates
Mortgage Advice
Question & Answers Short Sales Foreclosures

Plus much more. It is “real time” and changes weekly.

Whether you are thinking about selling or buying, or you just want to keep abreast of the market, I hope you find this information useful and informative.

Please contact me any time.

Sincerely,

Mahesh Mike Patel  Prudential Ca Realty         www.MikePatel.com           Search Homes Like An Agent

   

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Home Buyers – Cut Yur Buying Time in Half!

Home Buyers – Cut Your Buying Time in Half!

Are you a home buyer and frustrated about the whole buying process! Are you frustrated with your agent, or the bank, or the seller or the lender? You are not alone!  But this should not be the case.

Buying a house is a fun process, it is enjoyable, it is exciting and it keeps your dreams of a new and better life closer than you think.

Here are 4 Things that you MUST do before you even start looking for a home:

1. Talk to a lender. You must get prequalified and get a loan approval. Seller’s and listing agents will not look at any offer’s without this document. This will also give you the price range of the home that you can afford.

My past client just called me yesterday and he wants to write and offer on a house few houses down from his current house. I told him I cannot write the offer!(I don’t think he was pleased to hear that!) He does not have a job, he is retired, he wants to buy the house on his son’s name, but his son e is not yet pre approved.  He is willing to put $80,000 down on the house. Oh yes, he has to sell his rental home 100 miles  away to get to the down payment!, and that is not yet for sale. He want to write the offer subject to selling his rental house. The house is priced very well!, but do you think the seller will wait for the buyers house to sell?

2. Have your credit reports pulled and reviewed. Start correcting any disputes or discrepancies. Sometimes it takes several months to correct it. Imagine you are in escrow and you have to wait a few months to correct any errors or disputes!

My friend from an organization I belong to just got prequalified and preapproved to buy a house. They want to buy a house by end this December. Upon talking to my lender, we found out that he had a loan modification done last year and that may affect the purchase of his sale amount and time. The lender is looking into it.

3. Home buyers must know what area they are looking for and why they are choosing a home in that area.

I get calls from buyers all the time and they are not sure where they want to buy. If you narrow it down to a few cities, you can save a lot of time running around and looking for a home, and not making any offers to purchase a home. If you are not sure of the area, you are may not not be as motivated to write a reasonable offer to purchase a home that you may have liked.

Do you want to buy a home in particular schools area, your church, your work, your family, near the beach ets. This is a big time saver.

4. Have the down payment Money ready and committed to.  When you buy house these days, you must put a down payment. The day’s of 0% down payments are gone! There are a few exceptions, but for the most part, a down payment is needed. The down payment needs to be in your account for at least 60-90 days. If the money is in your account that is fine. If it is a gift from any family or friends, have a gift letter ready. many lenders allow gifts as down payments.  For FHA loans, the down payments can be as low and 3.5%.

If the down payment is being transferred from mutula funds, or 401k or other tpes of acounts, pleas be aware of the time it takes to transfer the funds. Some types of funds have restrictions and may take several weeks to transfer, and that could delay the closing of the escrow.

I had an offer accepted last week,  had all the approval letters, and credit checks. But at the last minute, the parents refused to give the down payment for whatever reasons, so we had to cancel the just newly opened escrow!  Please have the commitment for the down payment, or better yet, have the funds in your account right away! 

I would suggest that you talk to a dedicated full time Realtor in your area before you start looking for homes. Get educated about the home buying process. Home buying if fun, if you follow the process, and it is exciting!

Mahesh Mike Patel  Prudential Ca Realty         www.MikePatel.com           Search Homes Like An Agent

   

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Where is Your Cash Cow – Get It Now.

Where is Your Cash Cow –  Get it Now.

So I was prospecting to find sellers who owned rentals in the Anaheim and Anaheim Hills. I was calling on them to see if they wanted to sell their rental properties or if they had thought about more properties since the home prices are low and the interest rates are at historic lows!

 

I remember when I started real estate,a seller I was talking to mentioned to me, ‘Son, buy 10 homes now, so when you retire, you will have Cash Flow, don’t rely on social security, it won’t be enough”  Well, it happened to me again. I had called on an elderly gentleman who now lives in the San Diego county. I asked him over the phone if he wanted to sell his house. He had owned it since 1977. He said “Young man, that is my Cash Cow! The tenants have been staying there for 27 years, they have paid the mortgage for me, and I have been getting monthly income from that rental for years… why should I sell it. Make sure you get your Cash Cow now” and he hung up on me.(I am used to hang ups, does not bother me when I am lead generating) 

So I got to thinking, I should also start buying more properties, not that I have not already, and also help others in getting their cash cows NOW!, as the prices and rates are at historic lows. 

 

So what are you waitng for, get your cash cow  now. I can help you with the process, show you the tricks and trades of the rentals and cash flow… let’s go find your cash cow

Mahesh Mike Patel  Prudential Ca Realty         www.MikePatel.com           Search Homes Like An Agent

   

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Mike Patel’s Weekly Video Update Real Estate

Mike Patel’s Weekly Video Real Estate Update

September 29th, 2010

The market is always changing.
What you are hearing from the mainstream national media about Real Estate is only one small part of the story.

Here is the link to my Video Newsletter: for the latest.

http://www.patelsupdate.com

My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include:

Current Real Estate News
Interest Rates
Mortgage Advice
Question & Answers

Plus much more. It is “real time” and changes weekly.

Whether you are thinking about selling or buying, or you just want to keep abreast of the market, I hope you find this information useful and informative.

Please contact me any time.

Sincerely,
Mahesh Mike Patel   Prudential Ca Realty

www.MikePatel.com           Search Homes Like An Agent

   

Anaheim hills homes, anaheim homes, anaheim homes for sale, anaheim hills homes for sale, anaheim short sales, anaheim hills short sales, anaheim fine homes, anaheim hills fine homes, anahiem foreclosures,anaheim hills foreclosurs, homes for sale anaheim, homes for sale anahime hills, anaheim realtor, anaheim hills realtor,  real Estate anaheim hills, Real Estate anaheim

 

Short Sale Fraud – Negotiating Fees to be paid by Buyers?

Short Sale Fraud – Negotiating fees to be paid by Buyers?

Have you come across a situation where a buyer is asked to pay the negotiation fees to be paid by the buyer. Is this fraud.

                                                   

The Department of Real Estate recently posted an update on its website pertaining to the increasing practice of requesting/demanding that buyers pay short sale negotiator fees.  This information may be of interest to you and your clients.  Below is a link to the information:

http://www.dre.ca.gov/pdf_docs/ca/ConsumerAlert_ShortSalesUpdate.pdf

Tag: Short sale Fraud, short sale negotiating fees, buyer agent fraud, short sale negotiator fees, negotiating fees to be paid by buyers

My Business is Helping You.   Mahesh Mike Patel 

www.MikePatel.com       FREE! Home Search 

        

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