Get the Most Out of Your Square Footage in La Jolla
By Dan Johnson | August 31, 2011
If you’re getting ready to sell your La Jolla, Del Mar or Rancho Santa Fe home, you know that one of the most important things you can do to increase your sale price is to spend some time staging. After all, the better your home looks, the better the chances are that someone else will love it enough to buy it, too. However, many of the homes for sale in the California area are smaller in size than what’s currently hot on the market. While this doesn’t mean you can’t sell your home, it does mean that it might take a little extra work before you get that figure you’re aiming for.
The truth is, there’s no reason why your La Jolla home has to be the size of a small country in order to appeal to homebuyers. Small spaces, while more of a challenge to decorate and stage, have quite a bit of potential for appealing to those looking for charm, coziness, and class. If you’re doing the staging for your home yourself, here are few important tips in making your small home look like it’s worth every penny.
1. Get rid of the stuff. In any home staging effort, you want to get rid of personalized items and all the miscellaneous knickknacks that find their way into your home – including paintings and even overly unique drapes. This is never more important than when you’re trying to make a small house look bigger in CA.
2. Go for neutral colors. Dark colors make rooms look smaller in size. By using light, airy colors, you’ll give the appearance of more light – and therefore, more space.
3. Offer storage options. Most people need to really “see” themselves in a La Jolla home before they buy it. If you find creative ways to set up storage (such as in hidden cupboards, in strategic locations behind the couch, or even in a great set of shelves), you’ll give the impression that the house is not only beautiful, but livable.
4. Go for high-end details. Many of today’s homebuyers are willing to overlook a smaller space as long as it still retains a high value. Things like crown molding, built-ins, great appliances, and hardwood floors can go a long way in adding to the charm factor.
5. Use bright, strategic lighting. As with choosing lighter colors for wall paint, the idea of using light to give the impression of space is a good one. This is especially true if you can use track or recessed lighting to streamline the space even more.
Remember, there is no such thing as a typical homebuyer. By neutralizing your space and offering the little luxuries that allow people to envision themselves in your home, you’re allowing them to look beyond square footage to see how your La Jolla house for sale will help them create a lifetime of memories.
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San Diego Real Estate – it’s not going away!
By Dan Johnson | August 26, 2011
The oldest use of the term “Real Estate” that has been preserved in historical records was in 1666. In other words, San Diego real estate has been around for a very long time. However, it is not going away! It will be around until the end of time. What a comfort that is. With the slump that is happening, it is a reassurance to know that even if the economy gets bad, real estate is here to stay.
Real Estate is a legal term, according to Wikipedia, that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location. The word “fixed” is the keyword here, meaning unmovable. Real Estate is here to stay!
Wikipedia also states that it has been argued that the word Real is derived from “royal”. For hundreds of years the Royal family and/or King owned the land, and the peasants paid rent or property taxes to be on the Royal’s land. Today, just like hundreds of years in the past, we pay property taxes, or rent to be on the government’s land or the Royal Estate. Isn’t it great to know that even though we do have to pay property taxes our homes are owned by us and not a king or government or royal family!
This article has been a little bit about the history of Real Estate, but thankfully there is a great future for real estate. Make your own future and invest in “Real” estate.
If you are looking for a home or selling real estate in the La Jolla, Del Mar, Rancho Santa Fe California areas then we can help!
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Tips for First Time Home Sellers in La Jolla
By Dan Johnson | August 22, 2011
It’s a different world for first time sellers. Today’s buyers-take all bonanza is making sellers realize they need to pay at the closing table, sweeten the deal a little bit, and spend more time and money to get the home camera-ready.
The measurement of the house isn’t how much you can get from the sale of the house anymore it’s from how much you enjoyed living in the house. Dan & Brenda Wyatt can help get the most for your home.
Although it would be great if you could make a substantial profit from the house, but that’s not realistic. Price the house realistically from the beginning. Most of the interest in a house in La Jolla comes in the first two to three weeks of listing it. Take advantage of that with a house priced reasonably, you will be competitive from the start. How a home is priced is important a few thousand dollars could mean showing up more often in search results.
Be prepared to lose some money. Your house is worth what buyers are willing to pay and not a penny more. If you’re not prepared to lose some money you will be holding on to your beautiful Del Mar home until the market recovers.
Promote your home. Reach the home’s target market. Figuring out who is most likely to be interested in your Rancho Santa Fe home and how to reach them is your best bet. 20-somethings live on their smart phones, QR or Quick Response codes may work best for them. Is your target empty nesters? Having a phone number where they can instantly talk to someone is best for them. Know who you want to see the house to and promote to them.
Throwing in extras is a trend in California. If something is difficult to move, leave it for potential buyers, it may sweeten the deal. Clear away clutter. In smaller houses clutter can mean the difference between quaint and cramped. Kitchen and bathroom counters are often forgotten in the clearing away clutter process. You want your house to be somewhere between clutters and sterile.
Most homebuyers are lazy. The last thing new home buyers want is more chores. Make sure your house is move in ready. Make all the necessary fixes, trim the bushes and trees. You want the buyers to feel like they can move in and not spend the first weekend doing the chores you didn’t want to. Your competition is make their houses in CA move in ready, you should too.
Make your upgrades count. The biggest thing you can do to a house that will have the biggest bang for your buck is paint and replace carpet. Soft neutrals are recommended since they are easy on the eyes and have mass appeal. First time sellers in La Jolla can make the best out of the buyers market with these simple tips.
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La Jolla Real Estate Options: Buying New
By Dan Johnson | August 2, 2011
The decision of whether or not to buy a new La Jolla home versus an older La Jolla home is one that doesn’t always come easy. The CA real estate landscape is one that offers a wide range of home types, including everything from centuries-old historic homes with completely renovated interiors to brand new houses in family-friendly communities.
Depending on what you want out of your home, finding the right style for you can be a lot of work – fortunately, it can also be quite a bit of fun.
Costs of New vs. Older California Homes
In the past, deciding which type of home you wanted was largely a matter of price, since most older homes came in at a considerably lower price tag than new developments. In today’s market, however, there are new and historic homes that fall into the entire spectrum of housing costs – as long as you know where to look.
Older homes with renovated interiors have the double advantage of supplying old world charm and the latest in kitchen and bathroom amenities. However, older homes that haven’t been updated with modern heating, cooling, pipes, or electricity can become a financial drain when it comes to dealing with the CA weather. In this same way, newer homes with jetted tubs and a pool out back might provide everything you need to live comfortably, but there might be a trade-off when it comes to lot size and unique architectural features.
Of course, location matters, too. La Jolla and Del Mar homes for sale that have a little bit of historic charm tend to be found within small, unique neighborhoods closer to the downtown center. New development homes and those in gated communities tend to be found further out, especially in more suburban regions where there is more room for growth. These differences in location can have an impact on housing prices, since you may have to pay more for proximity to the city.
Benefits of an Older Home
Although all older homes vary – especially when it comes to things like updates, renovations, and location – most of them provide great benefits from an aesthetic point-of-view, including:
· Craftsmanship and architectural details
· Unique layouts
· Larger lot sizes
· Centuries-old features
· Mature landscaping
Benefits of a Newer Home
New homes tend to come with a much lower level of hassle, which can be a great boon to those buying a house for the first time or for young families who may not want to put a lot of time into their residence. Some of the features of a new La Jolla home include:
· Less maintenance overall
· New pipes, roofs, appliances, electricity, etc.
· Larger storage spaces/More square footage
· Often closer to family-friendly features like schools and parks
· Energy efficient updates
Which Home is Right for You?
If you have been considering buying a La Jolla home for awhile, you might already have a good idea of what you want out of your house, and what types of architecture appeal to you the most. However, many of the benefits of old homes (or new homes) can’t really be appreciated until you see them first-hand.
Ask your La Jolla, Del Mar, Rancho Santa Fe Realtor to show you the best of both worlds, and you might be surprised by what really draws you in. Just remember that every house – even the new ones – will require a little bit of work before they really start to feel like home.
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Buying a La Jolla Home as an Investment
By Dan Johnson | July 15, 2011
These days, most of the listed homes for sale in La Jolla, Del Mar, or Rancho Santa Fe are all about building a family future. Savvy buyers know that the market is theirs, and they can bargain for things like better school districts, home improvements, and other amenities that make owning real estate in California great. However, when the La Jolla real estate market boasts more homes than there are buyers, there’s another advantage: homes for investment opportunities are cheaper and have greater potential than ever before.
First-Time Homebuyers in La Jolla, Del Mar, Rancho Santa Fe: If you’re in the market for the first time, buying a home as an investment is a wonderful opportunity. Not only are there federal funding options available for first-time buyers, but the low average cost of homes right now means that you can get more California home for your dollar. This is especially true if you’re looking for a home to live in for a few years. By buying a house now, you can have a place to call home and the potential to sell it for profit five, ten, or even twenty years from now.
La Jolla Home Flipping: “Flipping” a home, or buying a house and fixing it up to increase the resale value, has been made popular by television shows and success stories that boast of tens of thousands of dollars virtually overnight. However, the process of fixing up a house is a much larger task than it at first appears. If you plan to flip a house as a way to earn a living, make sure you know exactly what the construction projects will entail and how you will finance your way through the process for the entire time it might take to resell your investment home.
When Buying CA Real Estate, Timing is Everything: As a financial decision, buying real estate is often best taken advantage of as a long-term investment. After all, it can be difficult even for professionals to predict the La Jolla real estate market. That’s why one of the best ways to turn a profit on a California home is to plan on living in the home or renting it out for upwards of 10 years at a time. It’s one of the best ways to guarantee an increase in your investment, and to enjoy yourself – and your family – while doing it.
The most important thing to remember before delving into CA real estate as a way to make money is that there is no quick and easy road to riches. The recent housing bubble burst is perfect evidence of this, and many people learned the hard way that buying a home as an investment, like any financial decision, takes time, planning, and a little homework.
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Tips to avoid a mortgage disaster in La Jolla
By Dan Johnson | July 12, 2011
There are several mistakes that homebuyers in California make and many of them pertain to their mortgage. Whether you find your dream home in La Jolla, the perfect property in Del Mar or a home you can turn into your dream home in Rancho Santa Fe, nobody wants the mortgage to ruin the fantastic experience of buying a home for sale in CA. Dan & Brenda Wyatt are here to help!
Here are a few tips to avoid a mortgage disaster:
Check your credit score. A bad credit score means you pay higher mortgage rates, and you want to know what to expect before getting to that point. If you check your credit a few months before applying for a loan you can change mistakes and even higher your credit score.
Don’t apply for other credit, like an auto loan or credit card. You look like a bigger risk and your rates will go up, if you’re approved at all. Wait until after the approval process is finished completely before applying for other credit.
Look at your total house payment. A mortgage payment includes principal, interest, taxes and insurance, or PITI. Some homebuyers don’t factor in taxes and insurance into their overall mortgage payment. So when deciding how much you can spend per month on your house, remember to factor in everything.
Having seasoned assets will help improve your chances of being approved for your loan. You can’t just transfer money from someone else’s account to make it look like you have money. The money needs to be in your accounts for a few months.
Steady work and income are a factor in being approved for loans. If you change jobs often an underwriter will look at how often you change and if your income is consistent. They want you to be able to make payments every month.
Get preapproved. Good preparation helps you get a good mortgage. Make sure you can qualify before you go house hunting. Look at different banks for the lowest rates. But don’t get too caught up with the game.
Don’t forget to lock in your mortgage rate. Rates change constantly and if you’re happy with the rate you have, lock it in. Don’t assume your rate is locked in until you get it in writing.
Read your new loan and mortgage documents. Make sure you understand and agree to everything you’re signing.
Follow these tips and you can be in your dream home in California soon enough!
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“Fixing” Your La Jolla Home’s Layout
By Dan Johnson | July 9, 2011
One of the first things homebuyers look for when shopping for California real estate is the layout of the house. Like the location of the house and its overall size, layout is one of the things about a home that cannot be changed without a very large time and money investment.
In the current La Jolla real estate market, many of the things that make a house unique – its paint color, flooring, the kitchen counters, and even the size or type of the windows – are being upgraded to entice buyers. But if your home has a restricting layout, which makes the house look smaller, darker, or inaccessible, you might have a difficult time making a “quick fix” to increase your chances of a fast sale.
Fortunately, there are things you can do to make your CA home for sale more appealing. If you do have a layout that might be sending out the wrong signals, you can try the following.
Remove the clutter. Staging your house is an important part of any home selling process, but never more so than when your layout might be confining or restrictive. Extra furniture, shelves, tables, and even the rack where you hang your coats all add to the inaccessibility of the house as a whole. By displaying your space as open and clearly as possible, you are allowing homebuyers to see the house through fresh eyes.
Add room dividers. A very long (or even a tiny) living room or a bathroom that is taken up almost entirely by a washer and dryer can be a difficult sell, because buyers might not see how the space is livable. Room dividers, or screens set up in strategic locations, are one of the tricks that decorators often rely on to maximize space, since they add clean lines and more storage opportunities.
Open up the entryway. Although this task might require a little bit of construction work on your part, opening up the home’s foyer to make it more appealing and inviting is often all you need to do to allow your home to shine. Most homebuyers make a decision about a house within the first 6 seconds, so you have to make those seconds really count.
Adjust your bedrooms. If your Del Mar house has adjoining bedrooms, or if your Rancho Santa Fe condo has a bedroom right off the kitchen, you might want to re-market the space. Few people want to sleep in a room that offers reduced privacy, but if you stage it and/or list it as an office, a library, a playroom, or even an add-on, homebuyers might be more tempted.
The CA real estate market is on its way up, but selling a home can still be a challenge – especially if you own a challenging home. By taking a little extra time to adjust the way you see your house, as well as the way it is presented to others, it is possible sell that house faster and with a higher price point.
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Ways to Increase your La Jolla Home’s Value
By Dan Johnson | June 23, 2011
When you first purchase a house in La Jolla, Del Mar or Rancho Santa Fe, you’re most likely thinking of ways to build a home for you and your family. A big yard means plenty of room for the children to play. A newly renovated kitchen means you can finally throw the types of dinner parties you’ve always wanted. A master suite, well, that’s just icing on the cake. However, when it comes to sell your California home, it’s important to remember that all those little (and big) changes can also mean big little (and big) changes in your sale price.
While most homeowners should make changes to their houses that suit their lifestyle rather than the eventual sale price of their home five, ten, or even twenty years down the road, there are a few things to keep in mind. After all, if you will someday be selling your La Jolla house, you want to be sure you’re maximizing your profit.
- Repair all the little things – now. Most of the time, homeowners are willing to overlook the little idiosyncrasies like a broken step on the porch or chipping paint on the kitchen cabinets while they live in their house. These small repair needs are a bit like a knee that acts up in the rain or a car that always requires you to turn the key three times to the right before starting; they just become part of the everyday backdrop of your life. However, for someone buying a home in La Jolla, Del Mar or considering real estate in Rancho Santa Fe, these things can become glaring problems. By fixing issues as they arise (rather than waiting until you’re ready to sell your CA home), you not only avoid making major repairs all at once, but you actually get to enjoy the repairs while you live there.
- Know your neighborhood. If you live in one of La Jolla’s family-friendly neighborhoods, chances are things like well-maintained yards, large family rooms, and spacious kitchens will be worth more in the long run. If you live in a Del Mar condo, you might find that built-in bookshelves and jacuzzi bathtubs are more appropriate. While you don’t have to tailor every change to your eventual sales audience, you can choose to make the types of changes that will translate into the highest returns.
- Don’t ignore the less visible changes. Almost all of the houses for sale in La Jolla go through cosmetic changes before they hit the market. Fresh paint, new kitchen appliances, and good landscaping are fairly common. Less common are things like a new roof, updated plumbing, or even a newly-installed automatic sprinkler system. However, these things show up in a home inspection evaluation, and when you put your trust in a CA real estate agents like Dan & Brenda Wyatt, these types of changes will always get the focus and attention they deserve.
The most important thing you can do to your La Jolla home is enjoy the time you’re going to spend there. However, by keeping its eventual sale at the back of your mind, you’ll be able to get the most out of your life – and your investment.
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Negotiation tips for sellers in La Jolla
By Dan Johnson | June 16, 2011
Sellers are sick of hearing about how this is a “buyers market.” Homebuyers are demanding so much right now. Here are some tips to help you take some of the stress out of selling your home in this market.
Don’t mention deadlines for selling your house, even if you have one. Keep it to yourself. Letting others know you are in a hurry to sell gives them the upper hand. Don’t share too much information about yourself and why you’re selling either. That can hurt a potential sale. When asked why you’re selling give a vague and definite answer, and think about it before you’re asked. Don’t hint at your desire to move quickly. Don’t let the buyers know if it’s a divorce sale. That is code for buyers to give a low-ball offer because they know you need to sell quickly.
If you can’t afford the mortgage payments and that’s why you’re moving, try negotiating with the banks. They will generally work with you to lower payments when they know you are actively trying to sell the house. It’s good for the bank if you sell your house in a regular sale, so they may be willing to work with sellers in La Jolla, Del Mar OR Rancho Santa Fe.
Stop trying to prove that your house is worth buying. Let the house sell itself. You are attached to your house but potential buyers aren’t, yet. So try not to be there, so they can see themselves in the house rather than see you. Plus if you’re not there buyers can’t read your body language and ask you questions that could help them get a good deal on your house.
If you’re truly in a hurry to sell and you don’t have time to convince buyers that you’re not, try offering the agent an incentive. Make an offer short term, like for three weeks, and then you’re not stuck if six months down the line the sale is made.
Having a plan b is also a great idea in CA. It’s better to be safe than sorry. Expand your options rather than panicking. Renting out the house is an option. Making it known that you have a plan b will let buyers know you aren’t desperate to sell and can take your time. The buyer will know they aren’t the only game in town.
Take back some of the power in selling your house! Dan & Brenda Wyatt will help you get what you deserve.
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Buying vs. Renting in Today’s La Jolla Real Estate Market
By Dan Johnson | June 3, 2011
Rental properties and homes for sale in La Jolla provide a great opportunity for those who want to live in this wonderful, vibrant city, and many area residents take advantage of both housing options. However, one of the most common questions that arise regarding the La Jolla and California real estate landscape is just how beneficial it is to buy a home rather than rent one.
The question is a good one in today’s real estate market. While buying a house was once lauded as the best choice for people of all backgrounds, the truth is that buying a home is a big investment that takes time, preparation, and careful planning.
Reasons to Buy a House in the Current Market
It doesn’t matter whether you’re considering a La Jolla house or a Del Mar condo – the reasons for buying a house are good ones regardless of what type of real estate you’re after. Why?
- Interest rates are low right now. With so many foreclosed homes on the market and more sellers than there are buyers, banks and mortgage companies are offering added incentives for homebuyers. If you plan on taking out a 15- or 30-year mortgage, this can translate to savings in the tens of thousands of dollars.
- Foreclosed properties offer great deals. Although the CA real estate market is doing fairly well these days, there are still more foreclosed and discounted homes on the market than there were five or even ten years ago. If you are in a financial position to buy, you may be able to get more home for your dollar than in another economy.
- You can make an investment in the future. Given the state of the current economy, most house values are set to rise over the next few years. If you do purchase a Rancho Santa Fe home or a house in any of the outlying areas, you’re likely to see an increase in your home’s resell price within five to ten years.
Reasons to Rent a House in the Current Market
While we always encourage individuals interested in potentially buying a home to contact us to discuss their options, there are some key triggers that might indicate you’re better served as a renter. These reasons include:
- Little to no down payment saved up. Although there are zero-down programs available (particularly for first-time State homebuyers), it’s always a better financial decision to put some money into your home purchase.
- The possibility of moving or relocating soon. La Jolla homes for sale provide a great bargain right now – but they may not increase in value enough to immediately resell it. Buying a home and then needing to sell it right away can be a strain, since it’s likely to remain a buyer’s market for at least a few more years.
Contact Dan & Brenda Wyatt For More Information
If you’re ready to start looking at La Jolla or Del Mar homes for sale, or if you’d like more information on the benefits of buying a home versus renting one, call us today. Sometimes, it’s impossible to know if buying a home is right for you until you sit down with one of our trusted professionals and get all your questions answered.
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