WEEKLY MARKET UPDATE FOR LAKE ARROWHEAD 12-30-08

Market Statistics for Lake Arrowhead MLS
Active Residential Listings: 838
Active Residental Listings in Arrowhead Woods: 355
Pending Residential Sales: 74
Sold Residential Properites month to date: 34
MLS wide Median Residential Sold Month-do-date: $278,720 (#34)
Arrowhead Woods & Lake Front Median Sold Month-do-date: $570,377 (#9)
Source: MLS, Rim of the World Association of Realtors

LAKE ARROWHEAD WEEKLY MARKET UPDATE

LAKE ARROWHEAD'S WEEKLY MARKET UPDATE 10/25/08
Market Statistics for Lake Arrowhead MLS
Active Residential Listings: 1033
Active Residential Listings in Arrowhead Woods: 458
Pending Residential Sales: 123
Sold Residential Properties month to date: 63
MLS wide Median Residential Sold Month-do-date: $232,000 (#69)
Arrowhead Woods & Lake Front Median Sold Month-do-date: $315,000 (#27)
MLS, Rim of the World Association of Realtors. These figures are deemed reliable, but not guaranteed.


To view ALL Active Listings in Lake Arrowhead, go to LAKE ARROWHEAD KAT(click on properties on the dashboard and choose your price range)
For all your Real Estate needs, CALL: KAT DELONG, REALTOR.

SELLERS--DON'T BLOW OFF A LOWBALL OFFER...let it simmer

Dear Seller:
We (Realtors) know how frustrating it is when you get a LOW BALL offer on your home. After all, it's a wonderful home. You've raised your kids here. You KNOW it's priced right. AND you can't afford to take less; you have your blood, sweat and tears in this place. SO, when you get one of those nasty, ridiculous offers, your first instinct is to be mailto:%5E*#@%& off....justifiably so.
"Tell that Realtor to tell his client ...blah, blah, blah with his offer..." You may blurt out.
Instead, you need to take a deep breath. Take a walk. Take a chill-pill. More importantly, you need to let the offer simmer. Let the buyer wait until (almost) the expiration period he/she has given you, expires. Almost, but not until it actually runs out. This lets the buyer know you may not be as desperate as he may think you are. Because, desperation only reaps desperate responses.
The market stinks right now, for sellers. It REALLY is a buyer's market. But even the buyers aren't jumping allover all the great deals they have at their disposable. They're VERY cautious. So, before you blow off that low ball offer, give it some consideration! Work with your Realtor to come up with a "reasonable" counter."
There's an old saying in the Real Estate World; YOUR FIRST OFFER MAY BE YOUR BEST OFFER.

For your Lake Arrowhead Real Estate needs, CALL: KAT DELONG, REALTOR.

WEEKLY MARKET UPDATE FOR LAKE ARROWHEAD-10/12/08

Market Statistics for Lake Arrowhead MLS
****
Active Residential Listings: 1041
Active Residental Listings in Arrowhead Woods: 583
Pending Residential Sales: 132
Sold Residential Properites month to date: 21
MLS wide Median Residential Sold Month-do-date: $441,340 (#21)
Arrowhead Woods & Lake Front Median Sold Month-do-date: $400,000 (#10)

Source: MLS, Rim of the World Association of Realtors. Figures are deemed reliable, but not guaranteed.
To view ALL Active Listings in Lake Arrowhead, go to LAKE ARROWHEAD KAT(click on properties on the dashboard and choose your price range)
For all your Real Estate needs, CALL: KAT DELONG, REALTOR.

LISTING AGENTS; PLEASE CALL ME BACK...I HAVE A BUYER

You know something that really gets on my LAST NERVE? (Well, one of several, I guess); When I call a Realtor with a question about one of his/her listings and he/she never gets back to me. EVER. This doesn't happen a lot, but even once is too much as far as I'm concerned. UNLESS you have a good excuse.
I have a client who called me three days ago about a listing I had emailed him. "Please ask the listing agent...." he asked. I said, "Of course. I'll get back to you as soon as I find out."
Immediately, I call the listing Realtor and get put into the Realtor's voice mail. I leave a message. THEN I call the Realtor's cell. Again, I leave a message. 24 hours later... still, NOTHING. I email the Realtor. 12 hours later...still, NOTHING. Okay, it's been three days now. NOTHING!
Times are tough in Real Estate and when I have a buyer who is generally interested in buying (these are buyers I've been working with), I do my best to find out the information the client needs/requests. (I do that even in a GOOD market).
I not only feel frustrated with THAT listing Realtor's lack of courtesy, but I felt like a big boob when I had to call my buyer and say, "Sorry, the Realtor hasn't gotten back to me." THIS IS NOT GOOD FOR OUR BUSINESS. IT'S NOT PROFESSIONAL.
Now before you come up with a dozen excuses for this Realtor, let me say:
The Realtor is ON the mountain (we live on a mt) and NOT out of town.
The Realtor has been on ActiveRain several times this week, since my calls, so I "assume" the Realtor IS available and most likely checked his/her email!!!
Here's how I look at it: The Realtor could at least call me and say: There's already an offer on it...It's going into escrow as we speak... OR, whatever. Just call and say "something." PLEASE.
Am I calling again? No. Am I over-reacting? (I have been known to once or twice in my life). Go ahead...you can tell me.
To view ALL Active Listings in Lake Arrowhead, go to LAKE ARROWHEAD KAT(click on properties on the dashboard and choose your price range)
For all your Real Estate needs, CALL: KAT DELONG, REALTOR.

BUYERS: GET OFF THE FENCE--IT'S A PERFECT TIME TO BUY!

Dear Buyers:
IT'S A PERFECT TIME TO PURCHASE PROPERTY. Prices in California (everywhere) have dropped (A LOT) to a more affordable level. We have more-than-enough listed homes ripe for your choosing. Don't keep waiting because you THINK prices will continue to fall. No one has a crystal ball showing us when the turn around in the housing market will occur. And, it will turn around.
Recently I posted SELLERS: HELP, ME, HELP YOU--SELL YOUR HOME, with a list for SELLERS to help get their home SOLD. Though this post is all about BUYING, you may find something of interest in my prior post, or perhaps you know someone who would benefit from it. Please feel free to pass it along.
That said; Let's get down to the PURCHASE process. BUYING A HOME is one of the most exciting things you'll ever do....and one the most expensive purchases you'll ever make. You NEED to be armed with as much information on this process as possible. Don't hesitate to call or e-mail me with additional questions or concerns. Remember, there are NO dumb questions.
Here's my list:
FINDING THE RIGHT REALTOR. It's extremely important that you feel comfortable and trust your Realtor. Do not take this step lightly. The right Realtor can make the difference between a good or bad buying experience. Check out my profile while you're doing your homework.
THE BASICS OF BUYING: Okay, you've chosen your Realtor (Me, I hope), now we get down to the basics. I'll explain the Agency Relationship, Residential Purchase Agreement, Financing, Earnest Money Deposit, making an Offer and the Closing process. (See term explanations below).
FINANCING; YOU need to speak with a lender NOW and find out exactly what you can or can NOT afford. You don't want to go previewing homes and find one you absolutely love, only to find out you canNOT afford it. I'll give you several names of professionals I know and arrange a meeting for you. Once this is accomplished, he/she will fax me a Pre-Qualification or Pre-Approval letter to go with the offer we'll submit once you find "The Right Home."
TELL ME YOUR CRITERIA: Share with me your wants and needs. You've probably already been surfing the Net and possibly have a good idea of what's out there. Tell me your favorite neighborhood. What style home you like? Do you want new construtruction or re-sale? Do you have children who will be attending the Rim 'O The World School District? Give me details!
PREPARING OUR SEARCH FOR HOMES: I'll pull up listings from my local MULTIPLE LISTING SERVICE (MLS) of homes you'd like to preview. We'll scale down your list to approximately eight (if possible). Anymore than eight homes in a day can be confusing. With our list of homes in hand, we'll head out on a house-hunting adventure.
KEEPING NOTES ON PROPERTIES YOU SEE: I'll give you a printout of each home we'll preview, so you can make remarks on each one. THIS IS IMPORTANT and this will also help you eliminate homes you are not interested in. YOU are narrowing down your list and getting closer to finding THE RIGHT HOME.
MAKING YOUR CHOICE: Okay, you've found a home you love! We sit down and discuss making an offer: Price? Earnest Money Deposit amount? Conditions? Time for closing? I fill out the Purchase Agreement, you sign and initial and I contact the Listing Agent and I begin negotiating for you. And...we wait for a response from the sellers.
OFFER HAS FINALLY BEEN ACCEPTED: Once your offer has been accepted and all terms are agreed upon by all parties involved, we open escrow. In the state of California, we have an escrow company; an unbiased third party who handles the transaction and all monies.
You are now getting closer to owning a home!!!
My Next Article will be ALL ABOUT THE ESCROW & THE CLOSING PROCESS! Stay Tuned.
IMPORTANT LINKS BELOW:
WHY USE A REALTOR?
REAL ESTATE TERMS & EXPLANATIONS
FIND OUT ABOUT YOUR NEIGHBORHOOD
RIM OF THE WORLD SCHOOL DISTRICT
LAKE ARROWHEAD CHAMBER OF COMMERCE
YOUR PIECE OF CALIFORNIA

For your Lake Arrowhead Real Estate needs, CALL: KAT DELONG, REALTOR.

SELLERS- LET ME GET YOUR HOME SOLD

DEAR SELLERS: Our Real Estate market, as you know, is frustrating right now. Home prices have dropped and the market is saturated with listings, not to mention these listings are on the market far too long. However, even in a challenging market, there are ways to increase your chances of getting YOUR HOME SOLD. Below is my list to help do just that and in the shortest amount of time.
Keep in mind, however, that there are conditions that we/you, cannot control: Location, Competition and Market Conditions. That said, on to my list:

1. LISTING with the RIGHT REALTOR; Of course, I FEEL I am the "right" Realtor, but if you're still unsure, interview several more. I am perfectly okay with that and, in fact, encourage it. Ask what he/she will do for you and your home to get it sold. At our interview, I will explain the "process of selling," the "Agency Relationship" and the Listing Agreement" before discussing the following:
2. PRICE: This is key in any market, but especially in a less-than-perfect market. I know your home has qualities that OTHERS in your neighborhood may not have. You've put your heart and soul into your home. You've raised your children here and it is "special" to YOU. BUT, the average buyer doesn't care. THEY want the most bang for their buck. And an Over-priced listing sits...and sits...and sits... I will prepare a Comparative Market Analysis so you can SEE exactly what is selling in your area and, just as important, what is NOT selling. The market dictates the price we list your home and this step is vital! And don't forget about the APPRAISAL process. When you get an offer, most often the buyer is getting a loan. Your home will need to appraise for the amount of the loan in MOST cases.
3. PREPARE YOUR HOME: Okay, you've chosen your Realtor (ME) and now you MUST get your home "BUYER READY". You've got to step out of your seller shoes and slip into the buyer's shoes. I'll make suggestions about things in, or around, your home that need addressing. OR dressed up. It may be as easy as some fresh paint, mowing the lawn, DE-CLUTTERING or using some elbow grease to get your home "sparking" clean. Perhaps your home needs some serious fixing; roof, plumbing, updated appliances, etc. Perhaps getting a professional "Stager"is the answer. (I will offer a name of a trusted Stager I use. When buyers walk into your home, we want only to hear, "Oh, this is wonderful. I could live here!"
4. YOUR HOME GOES ONTO THE MULTIPLE LISTING SERVICE (MLS): After you've signed the listing agreement, I take photos and head back to my office and INPUT it on the MLS, ASAP! This is IMPORTANT. Instantly, all Realtors/Brokers/Members of that MLS Board will view your home online and, if they have interested buyers, they will call, email or fax the listing to them.
5. INTERNET EXPOSURE: As soon as I've input your home onto the MLS, I will then list it on MANY different Internet Sites: WINDERMERE'S FEATURED PAGE, REALTOR.COM, GOOGLE (Windermere & Google collaborate),CRAIGSLIST, POSTLETS, TRULIA and so many more. Google alone will expose your home to more than 380 million monthly users.
6. MARKETING: I will advertise your property in several magazines that have been proven to work in your area: examples, The Real Estate Book and Homes & Land.
7. BROKER/AGENT TOUR; In your area, we have weekly TOURS. Realtors/Brokers go preview new listings and even preview some "repeats." This gives Realtors a chance to see, first hand, a home in which they may have interested buyers. The TOUR is listed on the MLS and tour sheets are handed out to ALL Realtors/offices. I'll have your home prepared: lights on, blinds and drapes opened and directional signs well placed outside.
8. OPEN HOUSES: Having an Open House may expose your property to dozens of people. And since we live in a "Resort" area, we get a lot of weekend traffic. Open Houses have been/can be successful. Depending on how you feel about Open Houses, I will HOLD them periodically until YOUR home is SOLD.
9. PREPARING INTERESTED BUYERS: I will "Prequal" potential buyers" before showing them your home. This eliminates unwanted stress on you and the buyer who may fall in love with your home and find out they cannot afford to purchase it.
   UPDATES: I call you weekly with updates on showings (if any), Open House feedback and discuss other things we may need to do to increase "traffic" if we haven't had any, or not enough. After 30 days of little or no interest, we may need to consider a "Price Reduction." No seller wants to hear this, but it MAY have to happen.
10. WHEN WE GET AN OFFER: We will sit down and discuss the offer and, once agreed upon, we move forward and go into escrow. I will explain the entire process and keep you posted on every step of the escrow. But, first things first, let's get your home prepared and listed.

Things you can do to HELP get your HOME SOLD:

1. KEEP THE HOME CLEAN & PREPARED: Before leaving for work, or anywhere else, make beds, put dishes in the dishwasher, etc. ASSUME a potential buyer will be seeing your home today!
2. MAKE HOME ACCESSIBLE: We want Realtors to be able to get into your home to show it to potential buyers, so we need a lock-box on the property. Our lock-boxes are all digital and record who is/has previewed or shown the home.
3. SHOWINGS: When a Realtor calls to schedule an appointment to show, if possible, turn on all lights, turn on soft music, keeps pets in separate area. Put ALL valuables AWAY. Open drapes, shades and curtains. Open doors and windows (weather permitting).
4. BE GONE: Try and be gone/away. It's been a known fact that buyers will stick around longer (we WANT that), if the sellers are not home. IF you're unable to be gone, try and stay in a designated area. PLEASE do NOT follow the buyer around. Let the buyer's Realtor do that.

Okay, now, let's get YOUR HOME "Listed" & SOLD!