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Buyer's Market • Buyers • buying • community • first time buyers • Homeowners • open houses • real estate • selling • travel •
August 21, 2017
Considering a Career in Real Estate?
What does it take to have a successful career in real estate? A Coldwell Banker young rising star shares his story.
Have you ever thought about a career in real estate, but aren’t sure you have what it takes? We caught up with Joe Piccininni, an agent with Coldwell Banker Beau Hulse Realty in the Hamptons and recipient of the Coldwell Banker 30 Under 30 award, to find out why he chose to become a real estate professional and how he has found success after just three years in the business.
What does Joe say it takes to be a good real estate agent? Dedication, authenticity and being a good listener. “People trust you when you’re being yourself…and this business is all about trust,” he says.
Hear how Joe got his start and the one thing he would tell anyone considering a career in real estate in the segment below, which first aired on NBC Open House.
Considering a career in real estate? Learn more at coldwellbanker.com/careers.
Source: Coldwell Banker Blue Matter
community • financing • first time buyers • Homeowners • market trends • real estate •
August 18, 2017
Coldwell Banker at Inman Connect San Francisco 2017
Inman Connect San Francisco brings together more than 4,000 of the most important people in real estate including top-producing agents and brokers, CEOs of leading real estate franchises and tech entrepreneurs to embrace and leverage the change that surrounds real estate.
Coldwell Banker showed up big this year. From the stage to the lobby Gen Blue was seen and heard – reminding the industry why it is real estate’s most iconic brand.
Below are some highlights from the week.
The President and CEO of Coldwell Banker, Charlie Young, gave an inspiring keynote from mainstage about how the Empowered Agent is bringing positive disruption to real estate and is a force to be reckoned with.
Charlie also wrote a piece for Inman on how to identify, embrace and support these talented specialists as we look to the future.
A special group of empowered agents were highlighted on mainstage including Team Diva with Coldwell Banker Bain in Seattle. Pictured on-screen below is Kim V. Colaprete and Roy Powell.
Lindsay Listanski, Senior Manager Media Engagement for Coldwell Banker, ran a social media crash course on how to implement geographic marketing using Facebook, Instagram and YouTube.
The audience ate it up and so did Inman. Lindsay’s presentation was packed full of how-tos, best practices and helpful tips on how to take your social media marketing to the next level and wow your sellers. You can catch her full presentation here.
David Marine, Senior Vice President of Marketing, predicted the future of real estate marketing. Spoiler alert: the future is video. He covered everything from local television advertising to how to effectively use video to bolster your listings. He also addressed how real estate brands should think about using tools like Zillow and Trulia to their advantage.
Coldwell Banker rounded out the week with a visit to the Nest Headquarters in Palo Alto.
Agents and brokers heard from Nest CMO Doug Sweeny about the future of the connected home and received a preview of what Nest is doing to support real estate Smart Home specialists.
Come back to CB Exchange for a new suite of marketing assets next month!
The networking and fun continued at the invite-only Coldwell Banker cocktail party – Smart Cocktails and Smart Conversations.
Even if you weren’t there in person you can catch up on everything you missed right here:
- David Marine on Why You Should Consider Advertising on Local TV
- David Marine on Zillow and Trulia
- Sam DeBrod on Why Brokerages Still Matter
- Terri King on the Value of a Franchise Brokerage and Coaching Your Team
- Charlie Young on Mainstage: The Empowered Agent
- Lindsay Listanski on Geographic Marketing using Facebook, Instagram and YouTube
Coldwell Banker sales associates can also stay in the know with Gen Blue News. Now available on Amazon Alexa, just enable Gen Blue News on your Amazon Echo or Echo Dot and say “”Alexa, Open Gen Blue News” or download the podcast through iTunes.
And if you’re still having FOMO make sure to join us at Gen Blue and Inman Connect NYC!
appraisal • backyard • bid • Bidding War • Buyers • buying • closing costs • community • curb appeal • Homeowners • mortgage • neighborhood • real estate • Spring • summer • trends • Uncategorized •
August 16, 2017
Is Summer or Winter the Best Season to Buy a Home?
You hear it a lot – there are best and worst times to make any sort of purchase. Whether it’s a television, a car, or a home, statistics are available that may influence your decision on when would be the best time to make a purchase.
Numerical data isn’t the only thing you should be taking into consideration, though. Each season has something different to offer in terms of making the home buying process easier or more challenging. Let’s take a look at the pros and cons of buying during the summer or winter.
What to Think About When Buying a Home During the Summer
Did you know there are more homes on the market during summer? According to the National Association of Realtors, inventory in the U.S. is actually 15% greater in the warmer months than in the colder months.
If you have a lot of items on your home wish list, you might be better off searching during summer as you’ll have more homes from which to choose. The only disadvantage (depending on the climate where you live) is that summer results in more competition, as a greater amount of people are likely to visit open houses in nicer weather.
It probably goes without saying, but moving during summer is a bit more pleasant than moving during winter. For many, sweating beats freezing while trying to pack and unpack a moving truck. You can always cool yourself down, but it’s usually harder to warm up. It also tends to be safer if you reside in or are moving to an area that gets snow or ice.
If you have school-aged children, moving during their summer vacation offers more flexibility than trying to move during the winter holidays or spring break.
Lastly, one nice thing about summer is the lack of snow. That can be a huge obstacle when trying to look at the exterior of a home. You might miss the fact that a few shingles (or the entire roof) need to be replaced when there’s a pile of snow on top of it. The same goes for cracks in the driveway, and curb appeal in general.
What to Think About When Buying a Home During the Winter
There’s less competition in the winter as most people are busy with the holidays, their new year’s resolutions, or getting back into the swing of things at work. At this time of the year, buying a home isn’t typically at the forefront of most people’s minds.
What does that mean for you? No bidding wars, and more room to negotiate if a seller is feeling a bit desperate.
They might be if the reason why they’re moving is a pressing one. Combined with having to work around their real estate agent’s holiday schedule, having less showings, and subsequently, less interested buyers, sellers might be willing to give you a better deal or include more bonuses in the offer.
Again, depending on where you live, the weather during winter can be brutal. You’ll be able to easily identify drafts from windows in a house, and you’ll notice how effective the heating system is.
While snow can work against you, it can also work for you as you’ll be able to see how well the roof and driveway handle several inches of accumulation. Are there noticeable dips in the driveway? Have ice puddles formed on the property? These fairly major repairs can give you an advantage during negotiations.
Considerations for Both Seasons
There are a few factors to be concerned with during both seasons – namely, your real estate agent’s availability, and your neighbors.
Obviously, real estate agents may take time off during the holidays in the winter, but if they have children, they may also be likely to take off during the summer as well. Before you work with an agent, ask them about their availability over the next few months. You want to ensure that their planned absence won’t negatively affect your intentions to buy.
On the other hand, an agent looking to work through the winter holidays may be more motivated to help you, given the number of prospective buyers is lower.
Additionally, when you buy a new home, you’ll want to be surrounded by good neighbors, right? Summertime is great for seeing which neighbors excel at lawn maintenance and which ones let their grass grow for weeks on end. If you’re someone that cares a lot about a home’s upkeep, this might concern you.
At the same time, you’ll be able to see if neighbors work together to get rid of snow during the winter, or if houses on the block are nicely (or obnoxiously) lit up with holiday decorations.
Which Season is Better for Buying a Home?
As you may conclude, there’s no right or wrong answer. There are benefits and impediments to searching for a home in any season. You shouldn’t let weather or the trending numerical data hold you back. When you’re ready to buy, you’ll know it.
Source: Coldwell Banker Blue Matter
community • equity • family • Homeowners • neighborhood • real estate • Smart Homes • Uncategorized •
August 14, 2017
Our Future is Now: The Coldwell Banker Brand Anthem
The power of the Coldwell Banker brand – in one customizable video (and downloadable eCards). View the brand anthem video and get your very own now.
TODAY
From the CB Zap platform, award-winning CBx Listing Experience App, smart home initiative and record breaking ad campaigns, Coldwell Banker Real Estate has the resources that can help you lead your market and exceed your goals.
Watch above as we show exactly why Coldwell Banker is the real estate brand with real advantages. And the best part is you can customize this video and download an eCard for promotional use in your local market!
The Coldwell Banker network is filled with trailblazers, trendsetters and doers. By affiliating with the brand, your business demonstrates a power, reach and recognition of a global brand where we make a difference in the lives of others.
Source: Coldwell Banker Blue Matter Blig
appraisal • bid • Bidding • Buyer's Market • Buyers • buying • closing • closing costs • credit score • debt • equity • escrow • first time buyers • Foreclosures • Homeowners • hot market • Offers • real estate • selling • Uncategorized •
August 9, 2017
Condo vs. Townhouse
Condo and townhouses are often lumped together, but have some significant differences. Agent Jessica Riffle Edwards explains the differences between the two.
I’ll admit it, I’ve owned a condo for the last three and a half years and just found out what the difference was between a townhouse and a condo. While you would think that they’re pretty much the same thing, there are some key differences that might be critical to you depending on your situation and appetite for being responsible for home repair.
Here’s star listing agent Jessica Riffle Edwards explaining what the differences are between the two.
Source: Coldwell Banker Blue Matter Blog
appraisal • Bidding • buying • Charity • closing • closing costs • curb appeal • distressed properties • Homeowners • investor • market trends • mortgage • open houses • real estate • Sellers Market • selling • Uncategorized •
August 8, 2017
4 Tips to Selling an Inherited Property
Selling an inherited house can be draining. Coldwell Banker gives 4 tips on how to successfully prepare, organize and sell your inherited house.
One difficult topic real estate agents routinely have to discuss is about selling an inherited home from a parent when they pass away. It is a situation that is an overwhelming experience, one filled with emotions and many questions. While talking about it is difficult, it is smart to be prepared. This includes having conversations as a family to determine who will be included in the will to inherit the home, where the deed to the home is kept and where other paperwork is located.
After the estate has been settled and the home received as an inheritance, deciding to sell, rent or keep the home is the first step which will help determine what to do next. For those who decide to sell the home, it is a good idea to work with a team of professionals including a lawyer and a real estate agents who can offer advice and guidance throughout the process.
Although each situation is unique, the professionals at Coldwell Banker have provided the following four tips to help prepare to sell an inherited home:
Assemble a strong team of professionals. Working with a real estate agent, lawyer and potentially a tax specialist can help make the process of selling an inherited property go more smoothly. A team of professionals can give the guidance necessary to prepare the home for sale and get all of the affairs in order. A real estate agent can offer crucial, local market information that is especially helpful if the heir does not live nearby. Lawyers and tax specialists can help put all of the processes in order to ensure that selling the home is as easy on you and your family as possible.
Do a home walk through and get organized. Going from room to room and looking at everything from the condition of the floors to how fresh the paint looks can help determine what may need to be done to the home to help it sell more quickly. If the inherited property is older, a home inspection is important before making any decisions as there may be certain systems that need renovations. Equally important is to gather all of the necessary paperwork such as the deed to the home as well as researching whether there are any mortgages on the inherited property that need to be paid. Even if the original mortgage was paid off, a reverse mortgage may have been negotiated to help cover expenses. Also looking into local property taxes and when they were last paid is important.
Have the home appraised and price it correctly. Property received as an inheritance is not considered to be income by the beneficiary. The adjusted basis of a home is its fair market value at the time it was inherited, so it is important to get an accurate appraisal of the home. A real estate agent can also provide counsel on an appropriate listing price to match market value. Out-of-town beneficiaries can also find it difficult to select competent appraisers, inspectors and other professionals to assist in the home selling process, all of which a real estate agent can assist with.
Consider staging or other cosmetic improvements. Although not necessary in all markets or price ranges, home staging can be the difference in getting a home sold in a price-competitive market. An inherited property may not be furnished in the style of other local homes on the market selling at a similar price. A real estate agent can help determine whether or not home staging is a good fit for a specific situation. They may also suggest making home design improvements such as repainting rooms and/or landscaping the yard or other parts of the property. Make sure the lawn and landscaping look good and that the exterior of the house is in good condition. Low curb appeal can keep potential buyers from researching a home they may otherwise love. Perhaps most importantly, having an experienced real estate agent to answer questions quickly and accurately frees up time to devote to other activities and events.
Find more information on selling your home on the Coldwell Banker Blue Matter blog.
Source: Coldwell Banker Blue Matter blog
appraisal • Bidding • closing • equity • first time buyers • Homeowners • market trends • mortgage • Offers • overpricing • real estate • Resale Value • selling • Uncategorized • value •
August 7, 2017
Help! My Home Isn’t Selling
You listed your home for sale, but the home isn’t selling! Learn the simple things you can do to sell your home faster with Coldwell Banker real estate agents.
You listed your home for sale with high hopes. You love your property and you felt certain that it would sell in a reasonable amount of time. But it’s been several months since you listed your home.
You’ve had some interests and several showings. You’ve received a few lowball offers. Maybe you’ve even experienced the emotional turmoil of watching a contract fall apart. Regardless of the details, one fact is clear: your property is very much still for sale.
What went wrong? What can you do? Here are 8 effective tips to facilitate a faster sale.
Depersonalize
If your house has been on the market for six weeks or more without so much as a nibble of interest, it’s time to take a hard look at what might be putting buyers off.
If buyers can’t imagine themselves living in a home, they’ll be reluctant to make an offer.
To make your home appealing, pack away all of your family pictures, child artwork, and mementos. Paint your walls a neutral color like beige, cream or white. Pack away any polarizing or controversial pieces of artwork or decor. Depersonalize and try to make your home look like a model home.
Declutter
Buyers like to see clean, wide-open living spaces. If you have physical or visual clutter in the room, you’re sending a message to the buyer that you don’t have enough storage space.
Don’t send that message. Instead, get those moving boxes and start packing. You may not have a contract yet, but if you minimize your possessions and declutter the space, you’ll make the rooms look larger and create the impression of having tons of storage space.
Remove Evidence of Pets
We love our four-legged friends, but their food and water dishes, crates, and even just hair on the carpet can be a big turn-off to buyers who don’t like animals.
If you know that someone is coming to look at your home, put the food dishes away, store the crate in the garage or outside, and make sure to remove all signs of pet fur and dander.
Freshen Up the Space
Don’t let buyers turn up their nose at your home. Smell is the first thing potential buyers notice when they walk into a house.
Clean your home to get rid of any dusty or musty smells. If the weather is nice, open the windows to let your home air out. Install all-natural room fresheners or light scented candles in discreet places like the bathroom closet, laundry room, and garage. Choose a neutral and natural scent, like vanilla, rather than a pungent floral scent.
You could also consider investing an essential oil diffuser to leave running during home showings. Sage, lemon, lavender, and cinnamon are all subtle, relaxing, and inviting scents that help brighten your living space.
Work on Curb Appeal
Some buyers won’t even step into your home if they don’t think the property has curb appeal. Clean the windows and make sure that there are no visible cobwebs. Mow your yard and trim the edges, prune the bushes, plant fresh flowers, and spruce up your shutters by giving them a fresh coat of paint. You may even want to install a new mailbox and outdoor light fixtures.
Consider an Affordable Mini-Renovation
Not everyone likes a fixer-upper. Stained carpets and less than appealing paint colors may look like dollars needed for (and the hassle of) renovation in the buyer’s eyes.
Small renovations may lead to big payoff. Consider painting the walls a neutral color, installing a smart thermostat, replacing hardware and fixtures and other fairly inexpensive changes that will take away the label of a fixer-upper.
Stage Like an Expert
You’ve depersonalized, decluttered, renovated, and worked on curb appeal. Now it’s time to stage your home like a pro.
Place brand new, neatly folded towels and candles in the bathroom. Place a decorative bowl filled with bright red or green apples, lemons, or limes in the kitchen. Fill a clear glass cookie jar with fresh cookies on the kitchen counter.
Ask Your Agent About Pricing
If your home isn’t selling after you’ve done everything above, it’s time to talk to your real estate agent about adjusting the price.
This is where your agent’s knowledge of your market and the amenities of your home come into play. If your home is priced competitively, buyers will feel like they’re getting a great deal. A $5,000-$10,000 reduction may be all it takes to motivate the right buyer.
Make Your Home More Accessible
Make your home available for showings. If you limit your home to pre-scheduled viewings, you’re definitely not going to be able to sell as quickly. If you’re flexible with when you allow buyers to come see your property, you’ll have a better chance of getting more foot traffic and more potential buyers into your home.
Source: Coldwell Banker Blue Mattter Blog
bid • Bidding • Bidding War • Multiple offers • real estate • Sellers Market • Uncategorized •
July 21, 2017
How To Win A Bidding War Without Overspending
Winning a bidding war requires tactful strategy. What’s your next move?
Right now we are in a Seller’s Market here in Solano County. Oftentimes that means multiple offers over list price. It can be a frustrating and exhausting process. Read on for strategic tips!
It’s possible to win a bidding war without paying a cent more than you budgeted for.
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Know what you can really afford
As far as emotional purchases go, buying a home ranks right up there with choosing a wedding dress — only the financial stakes are much higher. Unless you know ahead of time exactly how much house you can afford, you could easily be sucked into spending too much. Your lender or financial adviser can help you determine that number. Then it’s time to play ball.
“Submit your best and final offer early,” says Skyler Irvine, senior partner at Myriad Real Estate Group in Phoenix, AZ. “If $1,000 keeps you from pulling into the driveway of your dream home just because you wanted to play hardball, then you might regret this more than you can imagine.” But the flip side is also true. “If you get outbid because someone offered more than you were comfortable with spending, then you didn’t lose anything and made a smart financial decision.”
Here’s a real-life strategy from a client of Naples, FL, agent Gordon Campbell on how to submit the best offer in a “best and final” situation without going too high: “They simply added a clause stating that they would pay $1,000 more than the next ‘best and final’ capped at the original price as seen in the MLS.” The outcome? “They got the property for slightly more than the other bidder.”
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Talk with the listing agent
You can put in an offer, but unless your agent makes the effort to speak with the listing agent, your offer, in a multiple offer scenario, will probably not stand out. Gary Hughes, a Virginia real estate agent, recently received 13 offers for a property he listed. “Twelve were just emailed, and the buyers’ agents did not speak to me,” he says. But one agent called and had the lender follow up. “The lender and the buyer’s agent were able to address a concern in a way that assured me it would get to settlement. It wasn’t the highest offer, but it was close. Those conversations made all the difference.”
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Propose a shorter closing
It’s always beneficial to find the seller’s motivation for selling (if you can). Let’s say they just accepted a new job in another part of the country. This seller is probably highly motivated to sell quickly. “If you can close the deal in two or three weeks, you may win over the higher offer that comes with a six-week closing period,” says Eric Bowlin, a real estate investor.
But just how do you go about closing faster? Here’s one way: “Tighten up your inspection time frame so sellers know that they can get through to a closing date quicker,” says William Golightly, a Florida agent.
Buyers can also be preapproved, or even better, get a conditional approval, from their lender. Going through the mortgage process first allows you to close just as fast as all-cash buyers do. -
Rent the house back to the sellers
Some sellers aren’t interested in a short closing at all. In fact, the opposite could be true. Sellers who don’t have to sell quickly but who are just making a change, such as downsizing or upsizing, might want a long closing or some sort of flexible deal to give them time to find their new home. “Being able to rent back the property to the seller for a few months while they solidify their next purchase can go a long way into not needing to overbid on the property,” says Aaron Norris, a California real estate investor with The Norris Group.
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Submit an as is offer
The fewer conditions you put on negotiating the house price, the more attractive you look to sellers. Consider offering to buy the house as-is. Miami Beach, FL, agent Jill Hertzberg says, “You can opt out of conducting inspections.” But since this is an extremely risky proposition, Hertzberg suggests instead of waiving the inspection altogether, decrease the inspection period to two days maximum. Lilia Biberman, a Boca Raton, FL, agent says to only waive the inspection “if you have a firm grasp of all the possible defects a property may possess and the costs associated with remedying those defects.” Also, if you’ll be paying in cash, you don’t need a financing contingency, which protects buyers who don’t secure financing in time.
Source: Trulia Blog
buying • first time buyers • investing • investor • Landlord • real estate • rental • rentals • tenants • Uncategorized •
July 20, 2017
7 Things To Know Before Becoming A Landlord
Thinking about investing in a rental property? Here are some great tips that will get you started!
First-time homebuyers are a declining group. Historically, 40% of homebuyers have been first-time buyers, but that percentage continues to shrink, even as millennials continue to show more interest in becoming buyers (eventually). If you’re already a homeowner, your wheels might be spinning right about now — if people aren’t buying starter homes, then the rental market has to be booming, right? It is in many areas, particularly where unemployment is low, the population is high, and homes are not overpriced. But before you start searching for a home for sale in Austin, TX to rent, you should think about the responsibility that comes with being a landlord — and learning by trial and error is not the best way to go about gathering intel (or a steady income).
Before you take the plunge, study up on how to become a landlord with these seven tips.
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Ideally, you want to live near your rental property
Living close to your property allows you to check on it periodically (after giving your tenants proper notice), take care of repairs yourself, and show the property when it’s time to list it for rent again. Research the best investment areas — but even if you don’t live in a prime rental region, you can still invest in one by hiring a property manager to take care of day-to-day details.
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Know landlord-tenant law
Most states have specific landlord-tenant provisions that cover issues such as security deposits, level of access to the property, and how much notice you need to give your tenants when you want them to leave. There also are federal laws you need to know, such as habitability and anti-discrimination laws. “Many landlords gloss over housing discrimination laws because they assume that as long as they’re not racist or sexist, they needn’t worry about fair-housing violations,” says Ron Leshnower, real estate attorney and author of Fair Housing Helper for Apartment Professionals. But fair-housing liability traps can arise in many ways, so it’s important that you fully understand the law and ensure that you aren’t breaking it.
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Make sure you can enforce that the rent is paid on time
This seems like a no-brainer, but believe me, if you get too friendly with your tenants, you might just let them slide a couple of weeks beyond the first of the month, or allow a partial payment when they’re between jobs. Before you know it, your tenants are six months behind and you’re struggling to make the mortgage payments. But being firm doesn’t mean you shouldn’t treat tenants with respect. Cultivating a good relationship with your tenants often goes a long way to ensure rent will be paid on time and that repair requests will be easier to deal with.
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Screen potential tenants
It’s worth the time to do a background and credit check on all potential tenants: online tenant-screening services are convenient, and you should be sure to check potential tenants’ credit scores. A credit score alone shouldn’t be the sole reason to accept or deny an applicant, but it is a useful screening tool: For instance, if your renter is fresh out of college with a solid job offer, they may not have enough credit history to warrant a good score—but could be a great rental candidate.
You should also conduct an interview to make sure you’re comfortable interacting with them, and check references, especially from employers or past landlords. But be advised, it’s hard to find the perfect tenant. According to Casey Fleming, author of The Loan Guide: How to Get the Best Possible Mortgage, it’s important to have a thick skin, and advises people not to buy rental property if tenant shenanigans will “drive you crazy.” Case in point: Fleming once had an evicted tenant break into the house, change the locks, and move back in!
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Customize the lease
If you don’t hire an attorney or a property manager, you can use a standard lease form from Nolo, for example, but you should tweak it to fit your situation. For example, if you allow pets, specify how many, what kind, and any rules that apply. Your lease could state that tenants should leash their dogs when outside the fenced-in yard and stipulate that pets should not become a nuisance to neighbors.
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Inspect the property regularly
“Have language regarding inspections clearly written in your lease documents,” says Timmi Ryerson, CEO of Smart Property Systems. She suggests taking pictures to establish a baseline (and document the move-in condition) and conducting an inspection at three months. If you find problems, Ryerson recommends that landlords “issue a notice to comply and set another inspection in one week.”
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Understand this is not a get-rich-quick scheme
Being a landlord is not just sitting around collecting a big wad of cash each month. You’ll need to spend some money to ready the property for tenants, buy landlord insurance, and pay property taxes. If you’re taking out a mortgage, be prepared to fork over at least a 20% down payment. Think of being a landlord as part of your overall investment strategy and be realistic about your goals — most landlords aim for about a 5% return on their investments.
Source: Trulia Blog
