It's Foreclosure Time

“An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today”.
Laurence J. Peter

Experts advise when buying foreclosures, one should buy low and sell high. Now is the low, the high is just around the corner. Interest rates are at an all time low so now is an excellent time to consider acquiring a foreclosure property. Below are some things to think about.
•Know before you buy. Know the market before you buy.Free information and guidance is available online at foresclosure sites and the National Association of Realtors site.
•Open your eyes to the opportunities that surround you. Even cities with high foreclosure rates have motivated sellers in sought after neighborhoods — where well-priced homes resell quickly. Consult with your favorite Realtor®.
•Make sure you know the current prices for comparable properties in the area. With markets in flux, your Realtor® can provide a CMA.
•Don’t be afraid to ask for a discount. To figure your offering price don’t forget to deduct the costs of necessary repairs and rehab. If you’re buying a property with plans to flip it, deduct from your offering price the cost of holding and selling the property until you find a buyer - remember to pencil in your profit!
•Don’t be derailed by marketing come-ons, gimmicks, and “insider secrets”. If it sounds too good to be true, it is.
•Beware of home auctions. Competitive bidding drives up prices. Instead of buying a house at discount, you could end up paying full market price or more when factoring in auction commissions and fees.
•Consider FHA as a low-cost, safe financing alternative. With new higher loan limits, interest rates at 35 year lows, and home buyer tax incentives, this is an excellent opportunity for you to buy low.

What's Your Score?

Are You In Charge Of Your Finances?
Today, the fate of your loan and the rate of your interest hinges on your credit score.
What’s The Score?The FICO credit score was named for developers, Fair, Isaac & Company reflects dozens of parameters in one’s financial history.
• Score 700-850 means smooth loan process; best interest rates
• Score 550-699 means medium risk; higher interest rates
• Score 300-549 sorry, no loans or credit cards

Know Your Score!Are you considering the purchase of a new car, new roof, or new furniture? Before you talk financing send for your credit report and FICO score. If after reviewing you find any errors, make sure to contact the credit bureaus listed below:
• Equifax Information Services, LLC www.Equifax.com.
• Experian www.Experian.com.
• TransUnion LLC Consumer Disclosure Center www.TransUnion.com.

Home Sweet Home. What's it worth?

Are you among the 95 percent of American homeowners who are unaware of the true market value of their home?
A Comparative Market Analysis (CMA) provided by a real estate professional compares your home with similar ones on the market in your neighborhood during a specified time period. This data, combined with the value of upgrades, will give you an accurate picture of what your home is worth. Remember that the CMA a “snapshot” captured in time, while real estate markets fluctuates constantly, it is a good idea to obtain a new one yearly.
For a copy of a FREE report written by industry experts, entitled “Home Sweet Home What’s it worth?” give us a call at (888)600-5054 and we will rush a copy to you.

IF YOUR HOME IS PRICED TOO HIGH, IT WILL NOT SALE!

IF YOUR HOME IS PRICED TOO HIGH, IT WILL NOT SELL!
If your home is priced too high compared to the other homes for sale in the neighborhood your open house will be a disaster. The buyers you expect will visit other open houses in your neighborhood and not visit your home. Have your Realtor perform a Brokers Price Opinion. Your list price should be 10 percent below the competition.

KEEP THIS IN MIND:

1. You will have many buyers visit your open house.
2. You can accept or reject any offer that is below your price point.
3. A multiple offer situation will occur, with a possible bidding war.
4. At escrow closing, you will receive more money in your pocket.

WHY A HOUSE DIDN'T SELL, HOW TO MAKE SURE YOURS WILL

So you've spent thousands on remodeling, hired a Realtor and put your house on the market for sale. Today after sitting 175 days on market, it is still unsold. Why? Was it because there were few pictures of the interior? Was the price too high?
The things you can do to make sure your home sells.
Make sure your Realtor provide you with recent comparable sales analysis for the most recent 90 days and a list of comparable properties currently for sale within a half mile radius. Your house should be priced about 10 percent below your competition which will cause a multiple offer situation. The Realtor you choose should be able to help you prepare your home for sale. Your house should be marketed aggresively on all the search engines including it's own unique website with pictures showing the interior of your home at it best.
To find out how much your home is worth write info@batesrealestategroup.com and we will provide a Comparable Market Analysis at no cost or obligation.

A Neighborhood Called Pacific Heights

Pacific Heights is a quiet neighborhood, a perfect place for families with children offering lots of activities. There are several playgrounds, recreational centers and parks in the neighborhood. Some of the best schools in the country are also located there, including Hamlin School which has provided girls with the finest quality education for over 140 years.
Pacific Heights mostly sits atop hills in the northwest area of San Francisco. Most homes in the area cost millions of dollars. These single family homes and condos are stately and well maintained. There are spectacular views of the Golden Gate Bridge, Angel Island and Alcatraz. There is plenty of shopping in the area including Whole Foods, Cal Mart, Peets, Starbucks, and Noah’s Bagels.
Click on batesrealestategroup.com for a complete listing of available homes in the area as well as throughout California.