3 WAYS TO SELL BEFORE SPRING - BEAT THE RUSH!!!

As we all know, most people are putting their homes on the market in the Spring and Summer.  This is typical, because people don't want to disrupt their kids' schooling and it's better to make the move when the kids are out of school. 

The problem with waiting until Spring or Summer is that you are competing with SO many other home owners who are doing the same thing.  And, if my real estate math is correct  LOTS OF HOMES = PICKY BUYERS + COMPETITION.  Why be part of all that?  Right now, we still have a shortage of nice properties for tons of buyers who are smart enough to take advantage of the low interest rates and bottomed out market. 

So, Nic, how do I do that if I have three kids in school?

  Put your home on the market now.  It should take anywhere from 1 week to 2 months to get a good offer.  If it happens too fast (like in 1 week), then here are a couple of options:

    1.  Counter back the buyers with a longer escrow.  Instead of the typical 30 days, ask for 60 days...or longer.  If they really want the home, they'll wait.  I personally don't like longer escrows because so much can go wrong and it gives the buyer time to see other options out there.  However, in order to beat the "rush" or "flood" of homes that will come on the market in Spring and Summer, this may be the only way to get the home under contract and still be able to extend it out until the kids are out of school.

  2.  Even better, ask for a "Lease Back."  This is where you stay in your home AFTER it has closed escrow and pay the new owner rent until a specified time that you have to be out.  This is a good scenario when there is a Buyer who really doesn't care if they get in the home in 30 days or in 4 months.  A Lease Back is a short-term lease and is easily taken care of through the use of a C.A.R. form. 

If Plan 1 or Plan 2 don't work, then the only other way to sell now would be to move to a temporary location (like Residence Inn), have the money in the bank and be looking.  You'll be in good position, non-contingent and ready to go. 

For more information on Placentia Homes, Yorba Linda Homes, Brea Homes, Fullerton Homes, Orange Homes, or Anaheim Hills homes, visit http://www.nicpetrossi.com/

Read more...

2012 - BEST YEAR IN LAST FIVE YEARS TO BUY

#1   Home prices have finally bottomed out.  The "shadow inventory" that everyone talks about is largely in the East Coast, New York, those states.  We have gone through most of the "shadow inventory" already in Orange County.  We are now through the worst of it.  YES!!!

#2  Interest Rates.  Interest rates are a hedge against inflation.  Inflation is coming, higher prices for food, gas, everything.  Interest rates WILL go up (they have to) as a counter against inflation.  Right now, I've heard of rates as low as 3 3/4 % for 30 years fixed.  WHAT?!?!  Lowest in 100 years? 

#3  As a return on investment, where can you find a solid 5% to 10% return on an asset that is tangible and can be used for tax write-offs? 

#4  MOST people who bought during the crazy "gold rush" days of the housing boom, bought in 2005 and 2006, when it was too late.  These people are now possibly looking at short selling their home.  The people who bought in 2000 through 2004 are in pretty good shape.  People are STILL waiting for home values to drop and won't buy until their friend buys.  You will never get a good deal if you jump on the "band wagon" in 2013. 

#5   There are still great deals to be had.  Yes, there are good deals on standard/regular sales.  Yes, there are good deals on Bank Owned/REO's in Placentia, Yorba Linda, Brea, Fullerton, etc.  But there are short sales that are going through and sometimes, they are going for CHEAP.  Investment opportunities abound.  Maybe not as far as "flipping" goes, but as far as picking up rentals, holding onto them for positive cash flow and then having an asset to liquidate in the future.

Read more...

NIC with Excited Buyers of East Lake Village Yorba Linda Home! Funny Video

Read more...

1111 Melia Place Video / Virtual Tour

CLICK THE PHOTO BELOW TO VISIT VIRTUAL TOUR

1111 Melia Place in Alta Vista Golf Course Community, Placentia CA

4 Bed / 3 Bath / 3200 SF / Salt Water Pool & Spa / Over $550K in Upgrades

$878,000 Asking Price



Read more...

Nic Petrossi and Prudential Fine Homes International proudly present 1111 Melia Place, a Placentia HQT Luxury Home

Placentia Homes and Real Estate for Sale with Placentia Realtor Nic Petrossi, Nic also sells Yorba Linda Homes, Brea Homes, Fullerton Homes, Anaheim Hills Homes and all of Orange County Homes!

Placentia Homes1111 Melia

I am extremely excited to showcase my newest listing - 1111 Melia Place, a Unique and Extremely Upgraded Estate in the distinguished Alta Vista golf course community. Over $550,000 worth of carefully planned upgrades. One of very few HQT Placentia homes in tract that has private pool & spa. Pie-shaped lot on end of cul-de-sac is one of 3 largest in tract, with over $200,000 worth of upgrades in tropical entertainer's delight backyard alone w/ massive s.y. Expansive backyard w/ colored stamped hardscape, salt water stack stone pool, tiered double level spa, water features, 30+ lights and sconces for night-time entertaining, mature queen palms, and a Jandy Aqualink system to control it all from inside! Crown moulding in every room, wrought iron and granite seemingly everywhere. Elegant formal dining with wrought iron chandalier and granite-accented butler's pantry. High-End Moen fixtures, Surround Sound, 18' Porcelain Tile, soaring vaulted ceiling, wrought iron bannister & travertine stairs. Owners have had over 100 guests comfortably, absolute entertainer's dream.  Incredible property - too many upgrades to mention!!!

Visit my Facebook page to communicate with me and find my latest listings!  ---->  Nic's Facebook

                  FOR MORE PHOTOS....VISIT http://www.nicsellmyhome.com/ AND CLICK ON NIC'S LISTINGS TO FIND MELIA.

Read more...

5 Tips for Buying a Home

The following 5 tips are based on years of looking with buyers for homes:

#1  WRITE DOWN 5 THINGS YOUR HOME MUST HAVE.  There is no perfect home out there (unless you have $1.5 Million to build your custom dream home), so get over the dream world scenario of the perfect home.  Every home will have some things you DON'T like about it, so focus in on the 5 things that it HAS to have...below is an example of someone's "must have" list:

1.  Single Story
2.  Large Backyard, Room for Kids to Play
3.  Downstairs Bedroom and Bath
4.  Cul-De-Sac Location
5.  3 Car Garage

If you feel you need to add a couple items and make it 7 things your next home must have, then that's ok, but don't go crazy with the list because the reality is - it's highly unlikely your next home will have everything you want.  In fact, you'll probably have to compromise a few things that seemed like non-negotiables at the start of your search.

#2   GET PRE-QUALIFIED TO FIND OUT (REALLY) HOW MUCH YOU CAN AFFORD.  This should actually be Step 1 on the list because it is a waste of time looking at homes on the Internet and teasing yourself at Open Houses if you simply cannot afford those homes.  It's ok to dream, but then move on and deal with reality.  Find a good lender (I have a few I would recommend) and tell them your whole life story so they can run your credit, assess your income and debt ratio, and give you a ballpark of what price range you should be looking in. 

#3  YOU DON'T HAVE TO BUY A HOME AT THE TOP OF YOUR AFFORDABILITY RANGE.  It's ok to be Pre-Qualified for a $700,000 purchase price and to look at homes that are $600,000.  It's actually wise to buy a place that is under your max purchasing power because then you aren't over-extending yourself and eating beans and rice and McDonald's as a treat.  If the economic woes of the U.S. has taught us anything, it's to be cautious with our spending and to have reserves and savings to fall back on when the money gets tight.

#4  LET YOUR REALTOR FIND THE HOME.  I know you love looking online at homes, but the problem is, when you send homes to your Realtor that you found on Zillow.com, ZipRealty or some other website, the homes are often off the market or short sales with offers on them and so your Realtor can screen the homes and send you homes that are actually on the market and are available.  This will save you (and him or her) a lot of headaches and wasted time.  If your Realtor isn't sending you homes or hasn't been aggressively looking for you, it's time to find another Realtor.

#5  GET A REALLY GOOD IDEA OF WHAT THE HOME IS WORTH BEFORE MAKING AN OFFER.  I've learned that most of my buyers want to place low-ball bids on properties regardless of what the property is worth.  A good Realtor can research the homes in the area and find out whether it makes sense to go really low, a little low, at asking price, or even HIGHER than asking price depending on the situation.  There are times when I've advised my clients to offer much lower than the asking price since the home seemed to be priced way too high for the current market.  There are times when I've advised them to offer ABOVE asking price because an agent priced the home so low that it was obvious it would go for $30,000 to $50,000 above asking price.  This comes down to trust in your Realtor.  Many times I've advised my clients and they did not follow my advice and end up losing out on the property.  I say this with all humility, but I'm more often right than wrong with pricing because that's what I do for a living - I'm skilled at knowing the market and what makes sense as an offer.  However, I cannot force someone to follow my advice.  If you trust your Realtor, please do me a favor and listen to their advice.  I've seen people lose out on properties and then say that it wasn't meant to be....maybe it would have been had they listened to their Realtor!   

Comments are welcome.

Read more...

ALTA VISTA GOLF COURSE HOME IN PLACENTIA

Nic's newest listing - 974 Pebble Beach on the private Alta Vista Golf Course in Placentia.

One of only three model homes, this 2700 square foot residence boasts 4 Bedrooms (with a 5th bonus/office as possible bedroom), 3 Bathrooms, with upgrades throughout. Granite and Kitchen Aid appliances in Gourmet Kitchen, "Whole House" Surround Sound Speaker System, Gorgeous Paint Tones throughout, Italian Stone Shower and Jacuzzi Jet Tub in Master, Custom Window Treatments, Decorative Accents, Custom Stone flooring, Extremely Clean, Master with huge retreat area and large walk-in closet, Formal Dining with Vaulted Ceiling... Virtual Tour:

Read more...