South Bay Real Estate News

Feb. 19, 2019

3 Stupidest Mistakes Made by Real Estate Buyers/Sellers

3 Stupidest Mistakes Made by Real Estate Buyers/Sellers

 

 

Buying or selling a home isn’t something most people do on a regular basis. If you think about it, that’s the whole reason real estate agents have a job. The general population needs assistance with finding the right property, filling out the paperwork, following contract requirements, and obtaining a loan.

 

Most of the time, things run pretty smooth with the transaction. However, every now and then there are massive problems and complications. Below are the 3 stupidest mistakes a home buyer/seller can make.

 

 

1.    Ignore Realtors Counsel 

 

Buying a home isn’t the same as walking into your neighborhood Walmart for a gallon of milk. There are strict regulations that dictate every aspect of the transaction. Your real estate agent is there to hold your hand and guide you through the complicated process. I’ve seen countless examples of home sellers thinking they knew more than the agent. Many times, this has gotten them in some serious hot water that ended with a lawsuit.

 

 Smart people know what they know and know what they don’t know. When there’s an important decision to be made about a confusing topic, they heed the advice of an expert.

 

2.    Not Doing Diligence When Selecting a Real Estate Agent

 

I’m not sure if you’ve ever looked in your local MLS, but there are a lot of real estate agents. With the kind of numbers we’re seeing, there are bound to be a few bad apples.

 

How you buy or sell a property is one of the most important decisions you’ll ever make. For 99.9% of the population, this will be the largest transaction of their life. Getting it done in the most efficient and profitable way will affect your finances for decades to come. With these kinds of things at stake, its critical to work with the best possible advisor.

 

We strongly recommend vetting any candidates you’re thinking about hiring as a real estate agent. Look on their social media profiles, and see what others have to say. Don’t be afraid to ask for personal references to fact check the individual. More than anything, don’t just trust your gut. Most real estate agents have a lot of sales experience and are good at gaining trust.

 

3.    Only Using Price as a Metric for Choosing a Real Estate Agency

 

As we all know, cheaper doesn’t necessarily mean better. This couldn’t be truer when it comes to selecting a real estate agent. Seeing how this is one of the most important decisions of your life, it’s wise to work with the best. You might save 5K with one agent, but lose 30K by making some wrong moves.

 

Selling a home shouldn’t be a horrible, pressure-filled experience. If you do your homework when looking for a potential agency, listen to wise counsel, and make your final selection based on the right criteria, you should be in the clear. 

 

Author Bio

My guest writer today is Jonathan Wickham, who is a licensed Utah County real estate agent. He started W ² Realtors with his sister Michelle in 2018. If you’re ever looking for a Utah County property, be sure to visit his website. Jonathan is a member of the BuildMyAgent real estate marketing network.

 

Feb. 4, 2019

Top 8 Home Design and Remodeling Trends in Southern Cal for 2019

Top 8 Home Design and Remodeling Trends in Southern Cal for 2019

 

 

Here in the South Bay & being so close to LA, things change... fast! Especially design! If you’re a current homeowner, or in the market to buy, you’re probably curious about the latest trends in home design.

 

Sellers who make strategic updates before listing a property can generate increased interest from buyers and, in some cases, a premium selling price. And buyers should consider which features of a home will need updating immediately (or in the near future) so they can factor renovation costs into their overall budget.

 

Even if you have no immediate plans to buy or sell, we advise our clients to be thoughtful about the colors, materials, and finishes they select when planning a remodel. Making over-personalized or unpopular design choices could hurt a home’s value when it does come time to sell. And selecting out-of-style or overly-trendy elements could cause your renovation to feel dated quickly.


To help, we’ve rounded up eight of the hottest home design trends for 2019. Keep in mind, not all trends will work well in every house. If you plan to buy, list, or renovate a property, consult a professional who can help you realize your vision and maximize the impact of your investment.

 

  1. WARMER PAINT COLORS


White and grey aren’t going anywhere, but expect to see warmer tones and more earthy neutrals popping up in 2019. Cold whites are being replaced by warmer, softer whites. And warmer tones of grey have become a popular alternative to the cooler grays we were seeing earlier in the decade. Dove grey—with a lilac undertone—is a particular favorite with designers this year.

 

Sherwin Williams chose Cavern Clay, a warm terracotta, as its 2019 color of the year, while Behr selected Blueprint, a mid-tone blue. Benjamin Moore’s selection is Metropolitan, a sophisticated grey.

 

If you’re preparing to sell your home, consider a light, neutral paint color. Neutral colors provide a blank canvas upon which a buyer can envision placing their belongings, and lighter colors make a room appear larger and brighter.

 

 

  1. MIXED METALS

 

Don’t feel limited to using one metallic finish throughout your home—or even throughout a single room. Designers are mixing metals in 2019, and their favorites include copper, brass, pewter, gunmetal, and matte black.

 

Experts suggest picking one metal hue to dominate your color palette and a contrasting tone to complement it. If your room has a warm color palette, choose a warm-hued primary metal, such as brass or copper. For cool palettes, choose a cool-toned metal, like pewter or stainless steel. You can also experiment with mixing finishes, such as polished and hammered copper.

 

From faucets to cabinet pulls to accent pieces, swapping out your old or dated fixtures is an easy—and relatively inexpensive—way to modernize your decor. Mixing metals adds depth and gives your room a more curated look.

 

 

  1. OUTDOOR ELEMENTS

 

Bringing outdoor elements into the home can help warm up a sterile space. And natural materials can soften a modern design esthetic.

 

Homeowners are increasingly looking for ways to incorporate these materials throughout their home. Especially popular right now: stone, copper, concrete, and wood. From concrete showers to agate stone tiles, designers are finding unexpected ways to bring the outside in.

 

One notable exception: granite countertops. Engineered quartz—a combination of ground quartz and resin—overtook natural granite stone as the most popular countertop material in 2018. This durable, low-maintenance, highly-customizable product has won over homeowners and designers alike.

 

  1. ALTERNATIVE APPLIANCES

Stainless steel has been the industry standard for years, but the market is trending toward variety and fresh alternatives. Homeowners have more options available than ever to personalize their kitchens with vibrant colors, black stainless, or modern white appliances. Another favorite? Integrated appliances that blend seamlessly into cabinetry. Built-in column refrigerators, which allow you to customize the design and size of your freezer and refrigerator, are becoming a “must-have” in high-end homes.

 

Advancements in technology have also brought a new wave of appliances to the market. Induction cooktops are replacing commercial gas ranges as a gourmet favorite. And french door ovens and steam ovens are also gaining in popularity—especially ones with smart features you can control from an app on your smartphone.

 

 

  1. COLORFUL KITCHENS

 

White will always be a classic choice, but color is finally coming back to kitchens. More homeowners are choosing cabinets in alternative neutrals like black, cream, and grey, along with colorful options like green and blue. Also popular? Wood cabinets in stains like warm chestnut and fruitwood.

 

Two-tone kitchen cabinets remain a homeowner favorite, as well. To incorporate this trend, try pairing darker lower cabinets with lighter upper cabinets or a colorful kitchen island with neutral-colored perimeter cabinets.

 

 

6. OPEN SHELVING

 

Swapping upper kitchen cabinets for open shelves continues to be a popular choice in 2019. It’s a cost-effective update that can make a kitchen feel larger and brighter. However, it’s not a practical option for everyone. Before you commit, test it out by removing your cabinet doors for a few weeks. See how it feels to have your glasses and dishware on display.

 

Not ready to give up all your upper cabinet storage space? Replace just one or two upper cabinets with open shelves for a lower-commitment but still-updated look.

 

 

  1. STATEMENT TILE

The ubiquitous white subway tile is finally fading in popularity. In 2019, homeowners are gravitating toward more colorful choices, creative textures and finishes, and alternative shapes. Especially hot right now: hexagons, arabesques, diamonds, and Moroccan fish scales.

 

Natural stone remains a favorite, including marble, quartzite and river rock. But advancements in porcelain tile that mimics stone, and even concrete, has made it an attractive, affordable, and low-maintenance alternative.

 

  1. SHOWCASE CEILINGS

 

Once an afterthought, ceilings are taking center stage. While 2018 was all about statement walls, statement ceilings are shaping up to be the darling of 2019. Designers are using bold paint colors, wallpaper, intricate moldings, fabric, and other materials to transform a ceiling into something truly special.

 

Want to incorporate this trend without going too bold? Choose a classic design, like coffered or wooden beams. Or stick with wood paneling or tin tiles for a more timeless look. Even something as simple as painting a ceiling the same color as the walls can make your space feel more modern.

 

 

DESIGNED TO SELL

 

Are you contemplating a remodel? Want to find out how upgrades could impact the value of your home? Give us a call for a free consultation!

 

Buyer preferences can vary greatly by neighborhood and price range. We can share the insights we’ve gathered from working with buyers in this market … and offer tips on how to maximize the return on your remodeling investment. And if you’re in the market to sell, we can run a Comparative Market Analysis on your home to find out how it compares to others in the area.

 

 

Want to learn more about how to stage your home to sell? Contact us at Daryl@DarylPalmer.com to request a free copy of our report: 10 Staging Secrets From the Pros for a Quick Sale at Top Dollar! Also ask me how to get a copy of my Book:

Dwelling Selling

 

 

 

Sources:

1.      Decor Mag –
https://www.decoraid.com/blog/home-design-trends-2019

2.      Gates Interior Design –
https://gatesinteriordesign.com/hottest-new-kitchen-and-bath-trends-for-2019/

3.      House Beautiful –
https://www.housebeautiful.com/home-remodeling/interior-designers/a24844028/home-trends-for-2019/

4.      Houzz –
https://www.houzz.com/ideabooks/114552119/list/32-home-design-trends-that-will-rule-in-2019

5.      Invaluable –
https://www.invaluable.com/blog/mixing-metals/

6.      Real Simple –
https://www.realsimple.com/home-organizing/decorating/decorating-tips-techniques/design-trends-2019-according-to-designers

7.      Sebring –
https://sebringdesignbuild.com/top-trends-in-kitchen-design/

Jan. 2, 2019

What's Ahead For Real Estate In 2019?

Here in the South Bay... At the end of the year and at the beginning of the year I always get asked this question: “Where is the housing market headed in 2019?” Well they don't always say "2019", because next year, we'll already know where the market headed. (rolling eyes)

Keep reading! It gets much more interesting starting the next paragraph!

It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy.  Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth. However, shifting conditions could impact you if you plan to buy, sell, or refinance this year.

 

HOME VALUES WILL INCREASE

The value of real estate will continue to rise. Freddie Mac predicts housing prices will increase by 4.3 percent in 2019.1  While the rapid price appreciation we witnessed earlier in the decade has slowed, the combination of a strong economy, low unemployment, and a lack of inventory in many market segments continues to push prices higher.

"Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines," according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.2

Yun predicts that the national median existing-home price will increase to around $266,800 in 2019 and $274,000 in 2020. "Home price appreciation will slow down—the days of easy price gains are coming to an end—but prices will continue to rise."

What does it mean for you? If you’re in the market to buy a home, act fast. Prices will continue to go up, so you’ll pay more the longer you wait. If you’re a current homeowner, real estate has proven once again to be a solid investment over the long term. In fact, the equity level of American homeowners reached an all-time high in 2018, topping $6 trillion.3

 

SALES LEVELS WILL STABILIZE

In 2018, we saw a decline in sales, primarily driven by rising mortgage rates and a lack of affordable inventory. However, Yun isn’t alarmed. "2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date. Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we've been experiencing over the past few years."2

Yun and other economists expect home sales to remain relatively flat over the next couple of years. Freddie Mac forecasts homes sales will increase 1 percent to 6.08 million in 2019 and 2 percent to 6.20 million in 2020.1

“The medium and long-term prospects for housing are good because demographics are going to continue to support demand,” explains Tendayi Kapfidze, chief economist for LendingTree. “With a slower price appreciation, incomes have an opportunity to catch up. With slower sales, inventory has an opportunity to normalize. A slowdown in 2019 creates a healthier housing market going forward.”4

 

What does it mean for you? If you’ve been scared off by reports of a market slowdown, it’s important to keep things in perspective. A cooldown can prevent a hot market from becoming overheated. A gradual and sustainable pace of growth is preferable for long-term economic stability.

 

MORTGAGE RATES WILL RISE

The Mortgage Bankers Association predicts the Federal Reserve will raise interest rates three times this year, resulting in a rise in mortgage rates.5 While no one can predict future mortgage rates with certainty, Realtor.com Chief Economist Danielle Hale estimates that the rate for a 30-year mortgage will reach 5.5 percent by the end of 2019, up from around 4.62 percent at the end of 2018.6

While mortgage rates above 5 percent may seem high to today’s buyers, it’s not out of line with historical standards. According to Hale, “The average mortgage rate in the 1990s was 8.1 percent, and rates didn’t fall below 5 percent until 2009. So for buyers who can make the math work, buying a home is likely still an investment worth making.”7

 What does it mean for you? If you’re in the market to buy a house or refinance an existing mortgage, you may want to act quickly before mortgage rates rise. To qualify for the lowest rate available, take steps to improve your credit score, pay down existing debt, and save up for a larger down payment.

 

AFFORDABILITY ISSUES WILL PERSIST

 Although the desire to own a home remains strong, the combination of higher home prices and rising mortgage rates will make it increasingly difficult for many first-time buyers to afford one.

“Buyers who are able to stay in the market will find less competition as more buyers are priced out but feel an increased sense of urgency to close before it gets even more expensive,” according to Hale. “Although the number of homes for sale is increasing, which is an improvement for buyers, the majority of new inventory is focused in the mid-to-higher-end price tier, not entry-level.”6

What does it mean for you? Unfortunately, market factors make it difficult for many first-time buyers to afford a home. However, as move-up buyers take advantage of new high-end inventory, we could see an increase in starter homes hitting the market.

 

MILLENNIALS WILL MAKE UP LARGEST SEGMENT OF BUYERS

“The housing market in 2019 will be characterized by continued rising mortgage rates and surging millennial demand,” according to Odeta Kushi, senior economist for First American. "Rising rates, by making housing less affordable, will likely deter certain potential homebuyers from the market. On the other hand, the largest cohort of millennials will be turning 29 next year, entering peak household formation and home-buying age, and contributing to the increase in first-time buyer demand.”4

Danielle Hale, chief economist for Realtor.com, predicts the trend will continue. “Millennials are also likely to make up the largest share of home buyers for the next decade as their housing needs adjust over time.”6

What does it mean for you? If you’re in the market for a starter home, prepare to compete for the best listings. And if you plan to sell a home in 2019, be sure to work with an agent who knows how to reach millennial buyers by utilizing the latest online marketing techniques.

 

WE’RE HERE TO GUIDE YOU

While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood.

 If you’re considering buying or selling a home in 2019, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.

 

START PREPARING TODAY - Ask how to get a copy of my book Dwelling Selling & read that FIRST!

If you plan to BUY this year:

  1. Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.
  2. Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.
  3. Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

  1. Don't trust Zillow or any other online valuators!!! (aka Robots) The Robots don't know!
  2. Call me, Daryl Palmer, for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list.
  3. Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.
  4. Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage ... and get you one step closer to moving when the time comes!

 

 

 

Sources:

  1. Freddie Mac Economic & Housing Research Forecast –
    http://www.freddiemac.com/research/pdf/201811-Forecast-04.pdf
  2. National Association of Realtors 2019 Forecast –
    https://www.nar.realtor/newsroom/2019-forecast-existing-home-sales-to-stabilize-and-price-growth-to-continue
  3. Bankrate 2018 Year in Review –
    https://www.bankrate.com/mortgages/year-in-review-for-housing-market/
  4. Forbes 2019 Real Estate Forecast –
    https://www.forbes.com/sites/alyyale/2018/12/06/2019-real-estate-forecast-what-home-buyers-sellers-and-investors-can-expect/#a98b80a70d9a
  5. Mortgage Bankers Association Forecast –
    https://www.mba.org/2018-press-releases/october/mba-forecast-purchase-originations-to-increase-to-12-trillion-in-2019
  6. com 2019 National Housing Forecast –
    https://www.realtor.com/research/2019-national-housing-forecast/
  7. FOX Business –
    https://www.foxbusiness.com/personal-finance/where-mortgage-rates-are-headed-in-2019

 

June 23, 2017

The Sun Illuminates The Sea On Redondo Beach Property


Southern California surf and sun is second to none on Redondo Beach property. Veterans Park overlooks the ocean. Found at 309 Esplanade locals enjoy open grassy spaces, and a children’s playground. Benches and picnic tables are ready for having lunch or just gazing out to sea.

Historic buildings stand proudly. The Veterans Park Community Center holds a place on the National Registry of Historic Places. Special events are often held on the grounds. A beautiful setting for couples to celebrate their day, many brides and grooms have often been spotted here tying the knot.

Seniors Living In Redondo Beach Are Golden

Seniors living in Redondo Beach spend quite a bit of time in the park as well. The Veterans Park Senior Center keeps residents in their golden years smiling. Various activities include bingo, book club and knitting groups. Those who want to keep abreast of it all take part in computer and technology tutoring. Outdoor shuffleboard courts are often filled with friends competing amicably with one another.

The tight knit community of Redondo Beach gets together weekly at the Redondo Beach Certified Farmers Market. Shoppers support local and buy fresh from the source. Taking place in the park on Thursdays from 8 a.m. to 1 p.m. the aisles are packed with plump fruit and tasty vegetables. Plants and flowers make great accents for homes on Redondo Beach property. Many make this a weekly trip feeling lucky to shop in the socal sunshine rather than inside a grocery store.

 

Posted in News