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Newport Beach Real Estate
Archive for the 'General Information' Category
November 27th, 2009
Are You Guilty of Chasing the Market Down . . .
Are you Guilty of Chasing the Market Down . . .
When a seller is considering listing their home for sale, of course the seller wants to net the largest amount of money for the property. There are some considerations however, and one is that the home is worth exactly what someone is willing to pay for it at that specific time.
There are many considerations in what affects the value of a property. The value of a property will increase and decrease along with the overall economic and market conditions. Those are factors which cannot be influenced. Recently, the value of homes all over the country have been influenced by the economy, mortgage rates, foreclosures, short sales and overall general apprehension about purchasing a home in these conditions. Another consideration is the general condition of the property.
The v alue of a home only matters when you want to sell it or borrow against the home. The value of your property is worth exactly what a buyer is willing to pay and what you are willing to accept at the time you sell it.
It is imperative to price it competitively right when it is initially listed. If your home is priced too high because you are convinced that you can achieve more money . . . your home is different, your home has been upgraded or improved upon. The reality is – homes are worth so much per square foot, and this number can be determined by consulting your Realtor. The Realtor will do a comparative market analysis to determine price per square foot of actives, pendings and recent solds. If the price per square foot is not a number that you can live with, and you can afford to stay where you are, then don’t sell. You may want to wait until the market yields you a number that you feel is more competitive and worthwhile. However, if you have to sell, then pricing it too high may end up costing you more money in the long run as you wait for your home to sell.
If your home is priced too high to start, there may be showings initially, however, as the showings start to slow down, and then you may consult your Realtor to determine the status of your listing. Then, after the home has been listed for sale, consider if other similar or like properties are listed in the same neighborhood for less money, and then they sell! Imagine how this will affect your listing. This may cause the listing to become stale.
Also, if the home is priced too high, you may receive “low ball” offers. Low offers may be considered to be offensive, and do not necessarily need to be responded to, however, if the offer is within the realistic value of the home, then this offer should be considered. These offers are probably sending you a message that your property is not priced competitively. If you decide to lower the price, but not enough to be in sync with the market, then you may end up chasing the market down. No seller should be in that situation. As the home prices decrease, then they lower the price – but not quite enough to be in alignment with the “market”.
Consider at your Comparative Market Analysis and definitely consider your competition. These comparables should be considered carefully. Review at the listing price per square foot, and the sales price per square foot to ensure that you are in the game (make sure you are looking at recent solds). If you need to adjust your price, then do so, but be realistic. Consult with your Realtor on a weekly basis to ensure that you are on track to achieve your goal of selling your home. Don’t be guilty of chasing the market down . . .
If you are considering placing your Newport Beach home on the market, and would like a market assessment, please consult with me for more information about your Newport Beach property.
For information about Newport Beach luxury homes, Newport Beach Real Estate, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 14th, 2009
What Criteria is Important in Selecting a Realtor
What Criteria is Important in Selecting a Realtor
When you are considering hiring a Real Estate agent, what criteria do you consider when you are selecting that Real Estate Agent. Do you talk to friends and family about who they used? A referral is always a good way to find a Realtor. Are you looking for a neighborhood specialist? Are you considering hiring a relative out of obligation . . . Keep in mind, it is a business transaction from start to finish. Although it can be emotional when purchasing or selling a home, an experienced Real Estate agent can guide you through the process.
Make sure you do your research. Talk to your friends and family for a good referral. Inquire about the experience. When you called to speak to the Realtor you are considering, did they return your phone calls in a timely manner? Inquire about how they will communicate their marketing activities to you if you are selling. Real Estate transactions are a two way process. It is important for the Real Estate agent to adapt to their client’s expectations . . . some may prefer to receive communication via text, email, or weekly phone calls. These are all important considerations. Try and lay the ground work up in front to avoid any misunderstandings once you are working together.
If you are purchasing a home, has the Realtor explained the process in detail? Did they have you meet with a lender first? I would recommend having the purchase agreement and associated documents explained to ensure that the process is completely understood.
If you are looking for a “neighborhood” Realtor, consider using Google as a way to find out who is the one who has the most exposure in the area. Look at the neighborhood you are considering and Google that neighborhood. See who comes up and look at their websites and blog sites.
If you are selling, and you have selected a few to consider, set up interviews and look at their preparedness. Do they have the information that will help you make an informed decision about pricing? Is the collateral material professional? What does their marketing material look like?
These are just a few considerations when you are selecting a Realtor.
If I can answer any questions about selecting a Realtor, or the process or either purchasing or selling a home, please contact me.
Phone or Text: 949-280-0681
Email: Spaxson@roadrunner.com
November 11th, 2009
In Honor of the Veterans on Veteran’s Day 2009
In Honor of the Veterans on Veteran’s Day 2009
I would like to take this opportunity to honor all the Veterans, both past and present who have served on behalf of our country. The Veterans have made many sacrifices and endured many hardships on behalf of our country, and these sacrifices have ensured our freedom.
My heart goes out to those at Fort Hood, Texas who recently lost their lives as a result of a senseless shooting. My thoughts and prayers are with their friends and families who may have a lost a loved one during that terrible shooting.
I am very grateful for all who have served on behalf of our country, and today is a day to remember our Veterans and honor them.
Newport Beach has a tribute, which is a large flag at Veterans Memorial Park which is located on the Balboa Peninsula.
Take a moment to be thankful for those who have served on behalf of our country. Happy Veteran’s Day.
November 10th, 2009
Chapman University – Fall of the Berlin Wall
Chapman University – Fall of the Berlin Wall
November 10, 2009
In honor of the 20 year anniversary of the fall of the Berlin Wall, Chapman University was selected as a partner in the 2009 Freedom Without Walls Campus Weeks. Chapman was one of 25 Universities across the United States to be selected for this.
Chapman University has an actual piece of the Berlin Wall erected at Liberty Plaza. The piece of the Berlin Wall is surrounded by a reflecting pool and a grassy knoll, and sits as a statue and a reflection of peace at Chapman University.
Below is a memorial of former President Ronald Reagan’s Speech to Mr. Gorbechav to “tear down this wall”
Chapman University President Jim Doti was instrumental in having this piece of Berlin Wall added as a part of the University.
When the Berlin Wall was taken down, it symbolized the end of the Cold War in 1989 and the beginning of a new era.
Now twenty years later, the students at these 25 selected United States Universities (including Chapman) will celebrate the anniversary of the fall of the Berlin Wall.
Chapman had several events planned in honor of the fall of the Berlin Wall including an art contest which was displayed at the University.
If I can answer any questions about Real Estate in the Orange County area, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 5th, 2009
Tax Credit For First Time Home Buyers Extended
Tax Credit For First Time Home Buyers Extended
The tax credit for first time home buyers has been extended through April 30, 2010. There will also be a sixty day extension if a purchase contract is in place prior to the April 30, 2010 deadline. The first time home buyers will receive the $8000 tax credit if it is their first home. And there is now going to be a reduced credit up to $6,500 for existing homeowners if they have resided in the current home for five years. Also, the bill also will increase the home purchasers income limits from $75,000 to $120,000 for people who file single. And the income limits for people who file jointly will be increased from $150,000 to $225,000.
The amount of the purchase price for a home purchase will be predicated on a maximum home purchase of $800,000.
President Obama is expected to sign this bill later this week.
This is excellent news for first time home buyers, and for home buyers who have been in their existing home for five years and desire to move. Also, it is good news that they have raised the income for both single and couples who file jointly who may benefit from this tax credit.
If I can answer any questions about Newport Beach Real Estate, or Costa Mesa homes for sale, please contact me.
Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com
November 2nd, 2009
Chapman University – Orange, California
Chapman University – Orange, California
Chapman University in Orange, California was originally founded in 1861 as the Hesperian College. Chapman College was renamed in1934 in honor of Charles C. Chapman. In 1991, it was renamed Chapman University. Chapman University is a beautiful college campus located in downtown Orange. The buildings have beautiful architecture. If you have not seen Chapman University, I would recommend taking a tour.
Chapman University is a private four year college that is located in Orange, California. It is located approximately 10 miles from Newport Beach and about the same distance from the John Wayne Airport. Chapman is an easy commute from Newport Beach or the surrounding communities. The address is:
1 University Drive
Orange, California 92866
Chapman University students live in the Orange area and there are dormitories and off campus housing. Downtown Orange is a charming community and with both dining and shopping located very close to Chapman University.
There is a memorial to Charles C. Chapman, and the quote on the memorial says: “I liken life before you . . . to that of a ship with its prow pointed toward the great ocean as it leaves the harbor for the distant shore. Storms may come, and they will for no ship ever sailed the seas but had to face the storm. If it is strong from keel to top, bow to stern, well maintained and intelligently directed, it rides the storm and goes on it’s way. So you will meet obstacles, storms. If you are strong in faith, clear headed, honest, trusting for divine guidance and with a character built on the solid rock, you will meet all troubles in your life victoriously.” (quoted by Charles C. Chapman).
Chapman University in Orange offers a variety of different majors including performing arts, business and economics, psychology, sociology, science, education, film, English, social sciences, humanities and history. Additionally, there is a pre-med program, and a pre-law major as well. Located on the Orange Campus, there is a Chapman University Law School which officially opened up in 1995.
Below is a photograph of the Leatherby Library at Chapman University.
The atheletics program at Chapman University include aquatics, aquatics (includes both swimming and water polo), soccer, volley ball, baseball, basketball, tennis, track and field and Lacrosse just to name a few. Last year in 2008, Chapman University completed construction on the new Aquatics Center to promote their aquatics program. It is a beautiful center with stadium style seating.
Student activities at Chapman include a variety of activities, and there is a also a Greek system for the students to be involved in.
There are approximately 5300 students enrolled at Chapman University. The class sizes are smaller offering more one on one attention.
For facts and statistics about Chapman University, please view this page.
Chapman University is located at:
1 University Drive
Orange, CA 92866
Chapman University is located in the heart of Orange County and there are number of activities for students residing in the area. Chapman is located about 10 miles from sunny Southern California beaches, close to Knotts Berry Farm, and Disneyland, and California Adventure. Students can definitely enjoy OC Lifestyle while attending Chapman University.
Please view the Chapman University Website for more information about history of the University as well as information on admissions, and other statistics about the University.
If I can answer any questions about Newport Beach Real Estate, or homes for sale in Orange or the surrounding area, please view my website at www.NewportBeachRealEstateCafe.com.
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