Ruby Miranda Real Estate Video Blog

According to the National Association of Realtors, 87% of homebuyers start their search online. This is why it’s so important that when you get your house ready to take pictures, you make sure that it is top-notch, primed, and ready to take the best pictures possible for when we display it online. Here are the three most important areas you need to focus on to make sure your photos turn out great:

1. Curb appeal. You only get one chance to make a first impression. It’s really important that you make a good one as soon as the buyers pull up to the home. Make sure the garage door is closed and clean, dust off the cobwebs, pressure wash the sidewalk, and make sure your landscaping is clean. When buyers walk up, you want to have a clean and orderly look to make the best possible impression.

Look at each room through a photographer’s eyes.

2. Kitchens. Make sure the counter is clear of everything because we want as much counter space as possible for pictures. How you live and function in a home is different than how you market and present a home. You’re going to look at the room through a photographer’s eyes. People, including your neighbors and family, will be looking at these pictures online through that same lens.

3. Restrooms. Clear the countertops off here as well and make sure all personal items are put away. The toilet seat should be put down, linen closets should be shut, and hair products on the counter and in the shower need to be put away.

These are three of my best tips, but if you want a copy of my full house photo shoot guidelines, give me a call or send me an email today. I’d be happy to get one sent out to you. I look forward to hearing from you soon.

There are many benefits of using a Realtor when it comes to listing your home. Here are five of the most important ones:

1. Pricing. It’s important to work with a Realtor because they are the expert on what your home can sell for. Working with a Realtor will help you form realistic expectations about what your home may sell for. They will take all of the available online data, interpret it, and make sure that they price your listing right. You don’t want to price too high, as doing so will cause your listing to sit on the market for longer than necessary. When this happens, buyers may begin to suspect that something is wrong with your home. Pricing too low, on the other hand, could prevent you from earning the best possible price. This is why working with a Realtor is so important. Agents are trained to analyze market data and strategize accordingly so that you can price your home just right.

2. Marketing. I think this is the most important aspect of selling your home. Did you know that 87% of homebuyers start their search online? Because of that fact, you need to make sure that you have a great online presence. Most Realtors stick to the “three p’s”: Placing a sign in the yard, putting the home on the MLS, and praying they get an offer. We do all of that, but also add a fourth “p” — promotion. We do everything we can to get the home out to as many potential buyers as possible so that it gets sold.

It’s not a done deal until it’s a closed deal.

3. Security. When you’re scheduling showings, you don't want just any person to come into your house. By working with a Realtor, most of the time we know exactly who is coming into the home. We know other Realtors in the area and most of the time they will only be showing it to pre-approved buyers.

4. Negotiations. This is a big one. Buying and selling a home is a very emotional process, especially if you’ve lived in the home for a long time. You see all the memories in the house and while it’s an emotional process for you, at the end of the day it’s a business transaction. It’s important that it’s treated as such to make sure it gets the home sold.

5. Getting you to the closing table. It’s not a done deal until it’s a closed deal. Within the contract, you’re going to have timelines, deadlines, and terms to meet. As Realtors, it’s our job to make sure you do your part and the buyer does their part. Our ultimate goal is to get you to the closing table and get your home sold.

If you have any other questions for me about today's market or want to learn about some more benefits of hiring a Realtor when selling your home, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

As a seller, there is a way to be smart about handling a multiple offer situation. 

When you start the process of selling your home, you have to make a shift in your perception. This is business. You’re selling a product in a large market that will dictate many of your decisions. You can choose to ignore the market, but to do so is risky, and it’s a decision most people end up regretting. 

There are many risks in pricing your home too high—the most important being you will sell it for less than if you would’ve just priced it appropriately to begin with. 

Why don’t buyers make offers on overpriced listings? They don’t want to offend the seller. It goes against human nature to offer substantially less than asking price to the seller. It’s insulting to them and embarrassing for the buyer. Buyers erroneously believe that the seller knows the home is overpriced, and if they would be willing to sell the home for less, they would simply lower their price.

Buyers also assume the seller must have turned down lowball offers from other buyers because, surely, someone somewhere down the line offered a reasonable price to the seller. Oftentimes, though, there are no offers at all. As a seller, don’t put yourself in this position. 

How can you generate multiple offers for your home and choose the right one? Now we’re talking business. 

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Don’t put yourself in a position where no offers are coming in.

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If you’re dreaming of a quick sale, listen to your Realtor regarding your home’s market value and how to price it. You’re more likely to attract multiple offers for your home if you price it correctly than if you overprice it. Buyers may be willing to pay more than the asking price, but they want it to be their move and based on other buyers also placing bids. Most buyers will run away from a bidding war if they think you already overpriced the house. 

Next, look at each offer carefully—not all of them are created equal. Just because someone offers a few thousand dollars more doesn’t mean their offer is the one to pick. Factors like whether the buyer is pre-qualified or what type of loan they’re using can also affect how solid their offer is. Another factor to consider is whether the buyer has to sell their original home first before they can buy yours. 

There are many aspects of a contract that can be either pros or cons, and you have to dive through all of them to make sure you’re selecting the right offer. Let your real estate agent advise you on which offer is the best. 

If you have any other questions about multiple offers or you’re thinking of buying or selling a home in our market, don’t hesitate to reach out to me. I’d love to help you.

Today we’re going to talk about being a buyer in a multiple offer situation. Unless you really play your cards right, this place could easily slip through your fingers. That’s why it’s critical to put the best offer forward from the start. Here are a few tips for how to win:

1. More money. It’s that simple. Money talks. The sale price isn’t the only place where you can make a strong financial stance. Consider increasing your escrow deposit or option fee. Committing more money up front will show sellers that you’re serious. If you’re hesitant at offering full price, how would you feel if you lost out on this home by $1?

2. Write a letter. Beyond the basic agreement of sales paperwork, include a letter explaining why you’re so passionate about buying the home. It can definitely help you stand out from the crowd. Telling the seller about you, your family, and why you love the home might help build empathy with the seller. Letters are especially effective when a seller has an emotional connection to the property.

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Consider increasing your escrow deposit or option fee.

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3. Keeping financing clean. Where financing is concerned, buying with cash is always attractive to sellers when you can afford it. You don’t have to deal with a lender, appraiser, or anything else. However, cash isn’t an option for everyone. If a mortgage is a must, make sure you can provide a pre-approval so that sellers know you’re vetted by a lender.

4. Buying a home as-is. Agreeing to buy a home “as-is” releases the sellers from the responsibility of making any repairs. That’s why it's a very attractive option for them. Keep in mind that buying a home as-is doesn’t mean you have to forgo inspections entirely, but you’ll only be able to use them for informational purposes.

5. Have your agent make a call. Their job is to make sure your interests are communicated to the seller throughout the negotiation process. When you’re competing against multiple offers, knowing what the seller wants to see can be a big advantage. 

That’s all I have for today. If you have any questions for me about multiple offers or anything else, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How is buying a new construction home different than buying a resale home? I’ll go over six important points today.

There are a few things that every homebuyer needs to know about new construction. I’ll go over six of them today.

1. New homes may not be listed in your local MLS. Unlike regular sellers who list their homes with local real estate agents, home builders often have their own sales employees working for them on the side. They do this to have more control and cut costs.

2. New homes are often sold before they’re built. The builder will generally get financing lined up, map out the construction and sales process, and try to sell you as many homes as possible before they even start building the one you decide on.

3. The first buyers may get the best discounts. Early in the sales process, there may be room to negotiate the sales price down. With that reward comes a potential risk; by being an early buyer, you are committed to the project.

4. Builders don’t have a personal connection with the home. It’s just a numbers game for them. They are not focused on what’s good for you. They are focused on the spreadsheet rather than sentiment. They want to make sure that you can qualify for the loan, and they set prices based on inventory.

You may be able to get some free upgrades instead of reducing the price.

5. Discounts may be available in the form of upgrades. If you're nearing the end of the sale cycle and the main homes have already been sold, the builder may be willing to negotiate on upgrades. If they reduce the price of your home and the sale closes, then the sale price becomes public record. If they offer you an upgrade package, such as swapping carpet for hardwood floors, there’s no way to track that in the public record.

6. Builders do like working with Realtors. Believe it or not, it’s in their best interest for a professional Realtor to be working with you. Remember, the salesperson represents the builder. They are looking out for the builder, whereas I will look out for you.

If you don’t already have a Realtor to help you when looking at new construction homes, or if you have any other questions, make sure to give me a call or send me an email. I would be happy to help you!

There are four surprising things that may increase how much your home is worth.

1. How close your home is to Starbucks. Who doesn’t love coffee? A 2015 Zillow report found that between 1997 and 2014, homes within a quarter mile of Starbucks increased in value by 96%. That really shows you that America has a coffee addiction!

2. Blue kitchens and blue bathrooms. According to Zillow’s 2017 Paint Color Analysis, which examined more than 32,000 photos from sold homes around the country, homes with blue kitchens sold for $1,809 more compared to similar homes with white kitchens. Pale blue or soft periwinkle blue bathrooms sold for $5,440 more than similar homes without blue bathrooms.

Homes with “barn door” mentioned in the description sold 57 days faster than other homes.

3. Trendy features. Zillow measured listings that mentioned certain favorite features, such as “barn doors” or “farmhouse sink.” According to Zillow’s 2016 analysis of more than 2 million homes, homes with “barn door” mentioned in the listing description sold for 13.4% more than expected and 57 days faster than comparable homes without that keyword.

4. How close are you to the city? Urban homes are now worth 35% more than homes in suburban areas. Since 2012, the median home value in urban areas increased 54%, while the median home value in suburban areas went up 38%.

If you have any other questions about home value or would like to know what your home is worth in today’s market, just give me a call or send me an email. I would be happy to help you!

Here are a few more common questions I get from buyers and sellers ad my answers to them.

I accepted an offer, but now I’m wondering if I could have sold for more. Can I keep looking at other offers?

Sellers never know how long a particular buyer has been on the market. It could be that they’ve been looking for a while, and it's because you’re just now coming on the market that you’re getting an offer pretty quickly. A lot of times when sellers get an offer quickly, they wonder if they priced their home too low. That’s not necessarily true. Sometimes it just means you priced your home exactly where it needed to be for that right buyer at that right moment.

Once you accept an offer, you can continue to show your home, place it under “Pending, continue to show” status, and accept other offers. However, even if you get a cash offer, you can’t move forward with it unless the previous buyer cancels their contract or defaults in some way.

While it’s a good idea to continue showings in case you have backup offers, any backup offer depends on the whether or not the current offer you have closes.

The seller didn’t disclose something about the property? Are they on the hook?

It depends on what they didn’t disclose. Was it a defect that you can prove they knew existed prior to filling out the disclosure, something they didn’t know existed, or something that was apparent throughout the transaction and never caught? They’re only on the hook if they knew about something and didn’t disclose it.

The answers to some of these questions vary on a case-by-case basis.

This is the kind of question that varies on a case-by-case basis. Any issue would be addressed between each party and their agents.

The buyer’s financing fell through before the close date. Can I walk away?

If they can’t obtain financing in some other way, yes you can walk away. If their financing didn’t come through, it becomes a question of whether they’re taking action to come up with cash funds or get their financing in order to proceed with the closing. If neither is the case and they can’t move forward, the contract will be terminated.

The inspection raised some issues I wasn’t expecting and the house appraisal doesn’t match the contract price. Can I back out of the deal?

When it comes to the inspection, unless you’re purchasing a new construction home, you’ll probably find defects with the house. Some of these defects will be normal wear and tear, and others will be more high-dollar items, and those are the things you need to watch out for.

When you do an inspection, you have to decide whether you want to negotiate with the seller to get them to fix certain things before closing, give you a credit to fix them after closing, fix those things yourself, or back out of the transaction. Again, the answer will vary on a case-by-case basis and depend on what your inspection entails. If you decide you don’t want to move forward, you’ll enter an option period where you can cancel the contract.

What happens if the house isn’t appraised for what I’m willing to pay for it?

There are a few different paths the transaction can go. The seller can lower the price, the buyer can make up the difference between the sale price and the appraised price, they can meet in the middle, or the buyer can walk away without penalty.

If the house doesn’t appraise at the sale price, the seller’s agent will typically confer with them and decide on the best course of action. At that point, the buyer also has to ask themselves how much they really like the property.

If you have any additional questions about buying or selling real estate, don’t hesitate to reach out to me. I’d love to speak with you.

Today, we’re going to talk about how your mortgage can be a surefire investment.

Paying down a mortgage has long been viewed as a reliable investment. It reduces debt, helps home equity grow faster, and provides a guaranteed return equal to the mortgage rate—usually more than someone can make in bank savings, bonds, or other comparable investments.

One of the things I recommend to buyers when it comes to making additional payments is to make one to two extra payments of what their principal and interest on their home is.

For example, if your total payment with principal, interest, taxes, and insurance is $1,300, where $600 of that is just the taxes and insurance and $700 is the actual principal and interest portion, then you will make one additional payment of that every year for the life of the loan consistently. You’ll reduce the amount of time you pay by five or six years. By making two additional payments every year for the life of the loan, you can reduce your mortgage by 10 to 12 years.

The key is to do it every year without fail.

The key is to do it every year without fail. Any more than that doesn’t make as much of a difference, unless you’re dropping huge chunks of money. Remember, you can break it up throughout the year on a monthly basis.

Using the earlier example of the two extra payments of $700, if you broke up that $1,400 up on a monthly basis, the dollar amount per month would be $116, which would mean a world of savings over the lifetime of the loan. As they say, a penny saved is a penny earned.

Should you have any additional questions about buying or selling real estate in today’s market, feel free to contact me. I’m always happy to help.

Here are a few tips to help your home be more energy efficient during the winter: 

1. Use earth’s natural heater—the sun. In the summer, it’s all about drawing the blinds and curtains to keep the sun out. In the cooler months, you can use the power of the sun to warm your home and keep heating costs down. Open curtains in any south windows to allow sunlight to naturally heat your home, and close them at night to reduce the chill you may feel from cold windows.  

2. Insulate the windows. Light, gauzy curtains may look great but they can make your home colder and waste energy, especially if the window does not receive direct sunlight. If you’ve addressed all the leaks around the windows and the room is still cold, insulated drapes should help. 

Schedule a checkup for your heating system.

3. Check your heating system. Dirt and neglect are the top causes of heating system failures. Now is a good time to schedule a checkup with a licensed contractor. It’s also important to regularly check and change the air filters. 

4. Turn down the thermostat. By turning the heat down 10 or 15 degrees while you are asleep or out of the house, you can save about 10% each year. Use programmable thermostats or thermostats that connect to a mobile app to adjust the temperature when everyone is out of the house. 

5. Don’t heat unused spaces. If you’re not using certain rooms all the time, close the vents and shut the doors. It’s more efficient for your heating system to push air only to the space where you need it.

If you have any other questions about being more energy efficient or about real estate in general, just give me a call or send me an email. I would be happy to help you!

It isn’t cheap to buy a home these days, and I’m not just talking about the price of the home itself. Unexpected out-of-pocket costs can pop up during the process.

It isn’t cheap to buy a home.

Today, I’d like to go over four costs you may have forgotten about when making your home buying budget.

1. The inspection. After you’ve made an offer on a property, you’ll usually need to pay an inspector to take a look at the home. This can run you a few hundred dollars. But, if there are any structural or safety issues, you may have to pay another professional to look specifically at the problem area.

2. Extra costs at the closing table. Beyond the closing costs themselves, there are a few additional expenses that buyers sometimes forget about at the closing table. Many lenders require you to pay a year’s taxes and mortgage up front. If the seller prepaid any of the taxes or fees, you’ll pay a prorated amount for the next of the year.

3. The move. Unless you’ve got some family members who can take care of most of this work for you, moving can be an expensive process. Costs will vary greatly depending on how much you’re moving, how far away you’re moving, where you live, and more. In any case, expect to pay a few thousand dollars.

4. Immediate costs. You may be able to put off new furniture purchases and renovations, but there are a few different expenses to expect right away. For example, you’ll need to hire a locksmith to change the locks in your new home. There could also be deposits or fees associated with setting up or transferring your utilities. Also, remember to plan for both routine and unexpected maintenance costs. Most real estate professionals will tell you that something in your new home is going to break down within the first year. So, set up an emergency savings account with at least six months’ worth of living expenses.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.