Archives for October 2009 - La Jolla Homes for Sale & La Jolla REALTORS - La Jolla Homes for sale & La Jolla Real Estate

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Get your asking Price!

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When we are in a buyers' market, it can be tricky to even get close to your asking price. There are, however, a few things you can do to help get a little closer, or even actually get your asking price. A recent Realty Times article discussed some of the following tips that most people can implement to help get their asking price, and sell their house as soon as possible. There are several forms these tactics can take, but in general they fall into three categories:
Before You Begin... ...ask yourself, "Will this project enhance my life?" If the answer is yes, then consider these three factors to determine whether the project will enhance your financial situation as well.
Finish any unfinished rooms or convert any convertible rooms, such as the basement or a recreational room. Not only does this give an increased amount of usable space, but it can also be used as a sale point, since these are expenses that the buyer won't have to incur. Offer a free media room. With deals, you can probably have one installed for around $5,000. Media rooms are something many house shoppers see as a neat luxury, and could be the difference between someone going for your house or someone else's.
You can make the mortgage on your house more desirable by buying down the interest-rate. This is something fairly easy to offer someone, and it certainly makes it harder for someone to take an offer with someone else where they have to pay a higher interest rate. Rather than offering a cash-specific incentive, you can offer something like a vacation. Again, this makes your offer stand out from other offers. Offer seller financing. This is actually not that difficult to do if you can make the deal work, and can actually end up earning you some money. Talk to your realtor about the possibilities.
Offer to pay their HOA fees for a year. This is a practical buyer benefit. If someone is carefully looking at their budget, then not having to include these fees in their monthly expenses can be a big deal. Offer to pay off some of their debt. If this is done as part of the loan program, then it could lead to the buyer qualifying for a larger loan, or a better interest rate. If just a side agreement, then again, it could mean lower monthly payments, which can be extremely important to the buyer. Finally, you can always offer to pay the closing costs. These tend to be something that is a big hit to buyers' pocketbooks, and is something people don't adequately budget for when shopping for a new house.
Unfortunately, other than the few aesthetically appealing things people can do to spruce up their house, real incentives tend not to be cheap, but they can mean the difference from having to drop your asking price by quite a few thousand, or actually getting what you want! The key to choosing which incentive to go for is to think about what incentive works best for you, and then think about what kind of audience you are playing to.

http://www.middletonandassociates.com/009F85

Posted on October 30, 2009 12:26:09 by Middleton and Associates

Posted in About Us, About Us, San Diego Coastal Neighborhoods, North Pacific Beach, Pacific Beach, Mission Beach, Crown Point, La Jolla Farms, La Jolla Shores, Beach Barber Tract, Hermosa, La Jolla Village, Bird Rock, La Jolla Real Estate Blog

Middleton & Associates is a boutique La Jolla Realty with two offices in the heart of La Jolla who focus on offering highly experienced La Jolla REALTORS to the discriminating seller or buyer interested in knowing the precise and expert La Jolla home value for all La Jolla properties and La Jolla luxury homes.

Our La Jolla realestate site provides an in depth look at La Jolla market information as well as a powerful La Jolla MLS search service that allows you to find all homes in La Jolla for sale and all La Jolla condos.

If you are interested in La Jolla foreclosures, La Jolla Shores homes, La Jolla Farms homes, La Jolla Village homes and La Jolla Bird Rock homes we have a special search for that too.

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Our Halloween Spectactular

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Middleton and Associates 2nd Annual Halloween Spectacular

Bring the Kids and the Pets for some trick or treating

Oct. 30th 3:30-4:30

848 Prospect st. suite A

la jolla, ca 92037

http://www.middletonandassociates.com/009F77

Posted on October 29, 2009 14:03:35 by Middleton and Associates

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Easy ways to increase home value

Adding value to your home; We've got easy ways to do it.

Before You Begin... ...ask yourself, "Will this project enhance my life?" If the answer is yes, then consider these three factors to determine whether the project will enhance your financial situation as well.
Look around the neighborhood. According to Allyson Bernard, a real estate agent in Danbury, Connecticut, it's a good idea to make your house as attractive as your neighbors' houses but not significantly more so. You're unlikely to recover the cost of outdoing your neighbors. Also, adds Terry Hanker, an agent in Cincinnati, Ohio, compare your home to others in the area in terms of price range and features before deciding what to spend. For example, if most houses have two and a half baths and you only have two, consider adding a half bath.
Think about the cost. A $50,000 improvement project doesn't necessarily add on $50,000 to the property value. Often, in fact, a modest improvement project pays off better than a big budget one. Also, many projects, such as adding a bathroom or renovating a kitchen, have large cost ranges. Get several bids and ask for references from contractors.
Examine the local market. If the local market is booming, your home improvement project is more likely to pay for itself. If the market is slow, you may have trouble recouping the money you put in. Keep in mind that nationally, homeowners on average only recovered 80 percent to 90 percent of the money they put into home improvement projects last year. In other words, you have to find a project that will pay off emotionally as well as financially.
Profitable Projects You have decided that a home improvement project is definitely for you, but where do you start? Add a guest house? Put in wood flooring? Add another bathroom? Another bedroom? Finish the basement? There are countless options. A valuable resource to check out when deciding what project to embark on is Remodeling magazine's annual "Cost vs. Value" report. This report compares the cost and value of identical remodeling projects in 60 different cities, based on information provided by contractors and real estate agents. The Kitchen Renovating an outdated kitchen is pretty much a sure thing. Don't, however, fall into the trap of splurging on small luxuries like built-in espresso machines and hand-painted tiles. The basics are always a good place to focus on: installing new flooring, re-facing existing cabinets, installing new countertops, installing new, more functional appliances. According to Remodeling, the nationwide average cost of these changes last year was $15,273, but the average resale value added was only $14,195. As discussed earlier, however, in strong markets, these improvements more than paid for themselves at resale. In Chicago, a strong market, a new kitchen cost $17,313 last year but added $23,464 to the resale value. Remodeling an Old Bathroom Another great bet, and one that costs less than remodeling a kitchen. Bathrooms are always a big sticking point for potential buyers. A project like this typically includes: installing a new bathtub; installing a new toilet; adding a vanity counter with a double sink and a recessed medicine cabinet; adding ceramic-tile flooring; and putting up vinyl wallpaper. According to Remodeling, the average cost of this project would be $9,861, while the average value added would be $8,887. Adding a Bathroom Another bathroom is pretty much essential, especially if you have a small number of bathrooms, like one or two. Adding a bathroom pretty much includes the same items as remodeling an old bathroom, plus a linen storage, lighting and ceramic tile surrounding the tub/shower. The average cost for this project nationwide was $21,087, and the value added was $18,226. Again, in many booming markets, this project more than paid for itself. Surprise! Be sure to do your homework before you start remodeling or renovating to minimize nasty surprises. Check your local zoning laws and find out what permits you need. Even for a small project such as a bathroom renovation, you may need several permits. If your house is older, also consider that you may have to pay for more than you thought to bring your home up to building code specifications or to function with new products. Don't Forget Curb Appeal The exterior of your house is just as important as the interior, if not more so. Buyers may not decide if they want to buy your house upon seeing it for the first time, but they could definitely decide they do not want to buy your house when they drive up. A very financially rewarding outdoor project last year was installing new vinyl siding and trim. Another rewarding project was adding an outdoor deck.

http://www.middletonandassociates.com/009F74

Posted on October 29, 2009 13:28:59 by Middleton and Associates

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Add Big value with inexpensive improvements

You may have always wanted a big project like renovating an old house. Or you may have fallen in love with a slightly rundown but charming place. Before you do anything you might regret, take a breather, and consider, is that old house worth renovating?

Whether you are selling or dwelling, home improvement can add a pretty penny to the bottom line or can help you fall back in love with your abode. There are plenty of inexpensive tricks that can provide some incentive to perk up your investment, without a complete overhaul. We have compiled a list of the top 10 boosters to get the beautification process rolling.

1. Modernize the Mess Hall

As the hub of family interaction, the kitchen is the heart of the home. Brighten the cabinets with a fresh coat of paint or some updated hardware. Add a new faucet or light fixtures to rejuvenate the space or change the window coverings for a more modern feel. Buyers are always interested in the kitchen, so try a quick facelift that will turn up the heat on your bottom line.

2. Spa Sparkle
Shine up the bathroom to offer a clean and calming spa-like refuge from the daily hustle. A quick fixture change, a new toilet seat and fresh accessories can be all you need to brighten up the bathroom. The bathroom is second in line to the kitchen to potential buyers, so use a discerning eye. A fresh coat of grout in the shower or maybe even a new pre-fabricated tub can do wonders. Open up the space with a pedestal sink and lay new vinyl sheeting or individual tiles right over your existing floor to inexpensively revive underfoot.

3. Ardent Appliances Hopefully, the avocado green electric stove is long gone, but if your appliances come in a variety of colors, it may look just as unsavory. Experts agree that a mismatched kitchen may leave a bad taste with buyers. If new appliances aren't in the budget, look to re-facing. Some appliance doors can just be flipped inside out for the opposite color, so all you need is a screwdriver to update. You can also request new fronts and tops from the manufacturer to create the streamlined look.

4. Room Conversion
If you have an extra playroom or den, consider yourself in line for a windfall. When selling your home, increasing the number of bedrooms can significantly increase your profits. The only difference between a den and bedroom is a closet; so invest in the storehouse to up the ante.

5. Machine Clean
Spruce up neutral carpets with a professional cleaning, brightening the room and clearing any unwanted odors or stains. If your carpet is blemished, try placing area rugs or large furniture over the worn spots. It may seem like you are hiding the problem, but most experts agree that replacing the carpet for a house on the market isn't worth the investment.

6. Light Up Your Life
Lighting can dramatically affect your mood, so brighten things up! Breezy window coverings allow you to control how much natural lighting you'd like to let in, a strategically placed table lamp or a dramatic chandelier can add character, while making your rooms appear larger and more open.

7. Straighten Out Your Storage
Older homes present the ever-present storage problem. Create space by utilizing closet organizers or wire and laminate shelving in the pantry, closet and garage. Purging some old junk in a yard sale or through donations can remove some clutter, while making the space look bigger.

8. Nuts and Bolts
Potential buyers sometimes take a look under the hood to assess the amount of wear and tear a house has endured. Hiring a professional to check, fix and update electrical wiring and plumbing can confirm to the purchaser that your house is healthy on the inside and out.

9. Opportunity Knocks
Still opening the front door with a flimsy standard-issue knob? Choose a hearty piece of hardware that emphasizes sturdiness, while a bold color that says, "look at me!" Refinish the front door with a bright hue or faux finish a steel door to look like wood for a refreshing first impression.

10. Groundwork
The front yard is the first thing that potential buyers see, so don't miss out on your chance to pique their interest. Focus on a clean cut, straighten up the lawn edges, freshen the landscaping and add some color spots or striking shrubs for impact.

http://www.middletonandassociates.com/009F73

Posted on October 29, 2009 13:17:04 by Middleton and Associates

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10 tips for making your home more salable

maximize your homes selling potential:

The real estate market is now in transition, and gone are the days of quick sales and bidding wars. Cooling sales are a problem for any homeowner looking to sell his or her home. Homes are not selling as quickly as in recent years, which is good news for buyers but bad news for sellers. We're also seeing recent sharp increases in value leveling off, but not falling, which is good for real estate buyers and sellers. These changes, however, mean that sellers will have to work harder and compete more to get the best price and a quick sale. Here are several ways you can get a leg up on the competition.
Dump the junk. Less clutter in your home makes it look bigger, roomier and cleaner. Go through your home and make piles of items, such as "garbage," "charity" and "maybe." Throw away anything useless, give away anything that may still have use and seriously consider the maybes, such as how long it's been since you've used the item and whether it's broke or damaged.
Price it right. A home that is priced well above the local market or above similar homes will not sell quickly, or possibly at all. Work with your agent to price your home correctly the first time.
Find the best. Having a good real estate agent or broker can make all the difference in the world when the market becomes more competitive. An agent who knows how to market and advertise your property, and who has good experience and connections, will be an invaluable asset. Interview real estate agents and ask for references.
Require a marketing plan. When you decide upon an agent, make sure that he or she develops a customized marketing plan that fits you and your property. The standard approach may not work for every property.
Change the deal. If your home isn't selling within a decent time period, consider changing the deal instead of lowering the price. For example, instead of lowering your asking price from $500,000 to $480,000, keep the $500,000 but offer a 2 percent "seller contribution" to help pay for closing costs. This saves you money (you pay $10,000 in closing costs rather than a $20,000 price reduction) and is very appealing to many buyers.
Get a HELOC. Having a home equity line of credit (HELOC) in place can help you, even if you're not planning to sell your home for several years. This way, you'll have funds available if you want to buy another home while your current home is on the market. Be aware, however, that if your current home doesn't sell in a reasonable time period, you may be saddled with multiple mortgage payments.
Fix it. Buyers will ask for a home inspection. You'll save time by getting a preliminary home inspection yourself and making repairs before putting the house on the market. However, if a repair is requested from a potential buyer, it may be cheaper than finding a new buyer.
Ask for feedback. Find out what potential buyers thought after a showing or open house. Take negative comments as constructive criticism, which you can use to make the next showing or open house better.
Beware of the take back. Watch out for buyers who want you to take back financing. When loans are available everywhere for little or nothing down, don't go into the banking business when there is less risk to you with an outright sale.
Ignore inconvenience. If a potential buyer wants to see the house at 7 a.m. on Saturday morning, so be it. This is a time where you have to be flexible. It is better to show flexibility and have the house seen than to turn away potential buyers.