It is an absolute misfortune and heartache when Ventura County homeowners are faced with very few options to save their home from foreclosure.  One of the most common options to avoid foreclosure on your home is to short sale your property.  However, some homeowners who are in distress hesitate to short sale their home due to the dreaded cost associated with a sale of a home. What most homeowners are unaware of is that short selling their home will most likely cost them NOTHING.

In a majority of cases, once the lender approves the short sale, the lender will also agree to pay for the cost associated with the sale of your home.  As a part of your short sale approval your lender will agree to pay for your Realtor fees, escrow fees, and title fees.

Nevertheless it is very important to realize that in real estate and especially in short sale situations all transactions are unique and the final outcome depends on the situation of the home seller.

For those home sellers who have a second mortgage, unpaid homeowners associations, or mortgage insurance, their lender may ask for the home seller or even the home buyer to contribute towards paying off these debts.

No matter what the outcome of short selling your home may be, it is important for you to know that you will not be collecting any proceeds from the sale of your home through a short sale.

If you have any further questions about short selling your Ventura County home or if you need assistance with short selling your Ventura County home please feel free to contact me, Mana Tulberg: 805-443-8898.

As a home seller in Ventura County it is critical to be informed about and to be conscious of your closing costs. Understanding your closing cost helps determine many factors in the final sale price of your Ventura County home.  Closing costs directly impact the biggest factor of all:  the absolute lowest price you are willing to sell your home in order to obtain your goal.  Both parties in a home sale transaction (home seller and home buyer) incur some costs.  These costs are all negotiable and are governed by the local laws and local real estate regulations.

Closing costs for home sellers are the expenses associated with the sale of their home.  At the end of escrow the closing cost amount is subtracted from the final sale price of your home.  As a home seller you may even arrange in the purchase contract to pay for the buyer’s closing costs.  No matter what you decide to do, it is important to know all closing costs and keep in mind that the delegation of your closing expenses are negotiable.

Below is a list of some of the typical expenses associated with the sale of your home in Ventura County:

• Paying off the remaining balance of your loan and any fees or penalties associated with your loan payoff.  During escrow the escrow officer will contact your lender to get the exact amount of your loan.

• Title insurance to insure a clear title on your property.  The amount of your title insurance depends on the sale price of your home.

• Brokers’ commission. It is typical for home seller to pay for both brokers, your broker and the home buyers’ broker.

• Transfer taxes which are governed by local laws.

• Escrow fees. Some home buyers may negotiate for you to pay for a portion or all of their escrow fees.

• Prorated property taxes, depends on when you sell your home in the tax year.

• Pest control inspection and the cost of any work that may need to be done.

• City or county transfer fees.  Some cities in Ventura County do not require a transfer fee.

• Home warranty plan. Some home sellers purchase a one year home warranty or home protection plan for the home buyer.

• Homeowner association transfer fees and documentation fees (if applicable).

• Notary fees, messenger fees, and other miscellaneous fees.

It is important to realize that many of the fees mentioned above are negotiable and can all be outlined in the purchase agreement between the home seller and the home buyer.

If you have any questions with regards to your closing costs please feel free to contact me, Mana Tulberg: 805-443-8898.

Is Home Staging Worth the Investment?

Just ask these 2009 satisfied Sellers and Happy Clients what they think!

Sold in just 5 short weeks! – Ventura, CA

Sold with Multiple offers! – Thousand Oaks, CA

Sold in record time! – Los Feliz, CA

After 2 years on the market with NO OFFERS, received 4 offers within 8 weeks! – Hollywood, CA

Sold in 46 days! Avg. DOM for neighborhood was 148! – Mandelay Shores, Oxnard, CA

Sold in 9 Days!!! – Lake Balboa, CA

These are just a FEW of the many successes of our Home Staging Professionals at Platinum Home Staging, Inc. We can help you with all of your Interior Design, Redesign & Home Staging needs.

Your home never gets a second chance to make a great first impression. You want your home to be inviting, memorable and to stand out among the hundreds of homes that Buyer’s may be looking at in person as well as via the Internet.  Selling your home, is in fact, selling a product. Please visit our Portfolio Page to view our extensive before and after photo gallery of both Owner Occupied and Vacant Home Staging properties. Platinum Home Staging, Inc. is the ONLY Preferred Interior Design Company endorsed by Pottery Barn in Southern CA.

At the 2009 Realtors’ Expo I was invited to participate in Realtor.com’s Ask a Realtor event. I was asked the question “What do I need to know if I buy and sell a home at the same time?” Below is yours truly and my answer to the question above:

For the past few years I have used social media as a tool to build, enhance, and promote my real estate business.  Like any other new adventure in my business, social media had a slow but tangible impact.  These days I not only use social media as a tool to grow my business, but also as an instrument to expand my networking all over the country and especially right here in our own Ventura County.

In an article by Lisa McKinnon of the Ventura County Star titled “Local businesses put social networks to work” the power and influence of social networking in real estate and other industries in Ventura County has been well defined. You can read the whole article on the VCStar.

I have met, worked with and often befriend many great people using my online connections. My business has flourished and continues to grow as I use the social media tools in ways that are beneficial to my real estate business and my clients.

When selling or buying a home in Ventura County it is important to have an awareness of the market conditions and how they will impact your home buying or selling objectives.  The Absorption Rate is a fairly uncomplicated metric that can be used to monitor market conditions.  Because it is a simple calculation it also lends itself well to price and geographic segmentation.  Absorption Rate  is the rate at which homes are able to sell in a given period of time.  The calculated absorption rate also determines whether the real estate market is a buyer’s or a seller’s market.

For example Ventura County’s absorption rate for June 2009 is calculated as follows:

• Total number of single family homes currently listed for sale in Ventura County: 1423
• Total number of single family homes sold last month, June 2009, in Ventura County: 508
• The total number of listed single family homes, 1423, is divided by the total number of single family homes sold last month, 508, to calculate the number of months it would take to sell Ventura County’s inventory of homes:  1423/508 = 2.8 months

The number calculated above, 2.8, indicates that it would take roughly 3 months to sell all the current single family homes listed for sale in Ventura County.

How does the absorption rate determines if it is a seller’s or buyer’s market:

• Absorption rate of 5-7 months indicates a Normal Market.
• Absorption rate of 1-4 months indicates a Seller’s Market.
• Absorption rate of 7+ months indicates a Buyer’s Market.

Based upon the calculation and guidelines above, an absorption rate of approximately 3 months indicates that the current real estate market in Ventura County is a seller’s market.

Although absorption rate is an important ratio in determining a real estate condition of an area, there are other factors that Ventura County home sellers and home buyers need to take into consideration.

The above number, 2.8 months, is an overall number for all of Ventura County.  The city, neighborhood, condition of the home, and the price play a big factor in the period of time it takes to sell a home in Ventura County.

Home Sellers in Ventura County and the Real Estate Absorption Rate:

It is important for home sellers in Ventura County to look closely at the absorption rate in their area when it comes to pricing their home.  A thorough knowledge of your area’s real estate market can help you decide on the appropriate asking price in the time period you wish to sell your home.

Home Buyers in Ventura County and the Real Estate Absorption Rate:

Knowing the absorption rate of certain areas is a great tool for home buyers during the negotiation process.  Better still, understanding the absorption rate for various price ranges, such as shown in the Table below, can provide a means to set realistic expectations for your specific purchase.

While absorption rate is an arbitrary factor, it can be used by both home sellers and home buyers as a tool to better understand the real estate market in different areas of Ventura County and help make better home buying and selling decisions.

If you need any help determining the absorption rate in your area or if you need any help with selling or buying a home in Ventura County please feel free to contact me, Mana Tulberg: (805) 443-8898.

As your Ventura County Real Estate Agent my goal is to present you with professional proficiency and leave you with a lasting, positive, home buying or home selling experience.

Unfortunately in the Real Estate industry a few unethical Realtors have nearly ruined the Realtor’s name, reputation, and integrity. I guess if you think about it this is true for almost all professions.

So, is this your Realtor?

After you watch this video below I hope your answer is, “No … Never!”

Enjoy this for its comedy and then insist on excellence in your Realtor, always