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Mailing Address is 1121 W Valley Blvd, Ste I-319, Tehachapi CA 93561. Make sure you note the address at which we will meet you for your appointment.
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Coming Soon?

Call 661.375.7325 and ask Sally Lawrence, REALTOR® for info on Tehachapi area homesHow often does it happen that you are driving around Tehachapi keeping an eye out for new real estate signs and you see one that says “Coming Soon?”  What does this mean?

Usually, “Coming Soon” signs are put up on behalf of sellers of foreclosed properties.  For an excellent article on why putting up a “Coming Soon” sign is a bad idea for a conventional seller, check out Doug Francis’ blog.  Most often, in the Tehachapi area, these signs are an indication that a property will be offered for sale at some point.

These properties are referred to as pre-listings.  They give the opportunity to generate interest even before the property is ready to sell.

When properties have been foreclosed, they may not be immediately ready to sell.  If repairs are needed, the seller may want to have those done before officially listing the property.  There could also be title issues that need to be resolved before a property can be resold.  A variety of issues can delay the official marketing of a property.

As a potential buyer, you may be tempted to call the number on the sign, but I suggest that you call your REALTOR® of choice.  Remember, your REALTOR® can provide all the information you need about any properties in the area and protect your best interests at the same time.

If you have any questions about this or other Tehachapi area real estate questions, feel free to contact me.  Looking for a REALTOR® to help you with your move?  Let’s talk about what you’re looking for!

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If this is a buyer’s market why hasn’t your offer been accepted?

Everyone keeps talking about how this is a buyers’ market.  Sellers often feel that they are being beat up, especially over price.  But Tehachapi buyers complain that their offers are being rejected.  What drives this?

Inventories are high and prices are low so it really should be a buyers market, right?  Buyers’ offers are often being rejected because sellers really can’t lower their prices.  How many sellers are facing a situation where even if they don’t owe more than their home is worth, they may just be getting out with a break-even at the listed price.

Although there is lots of inventory, much of it is really not very attractive.  That is to say that there are an awful lot of “fixer-uppers” on the market now.  For traditional buyers, that presents the same problem it always has — you may be able to afford to buy the house, but you can’t afford to fix it up.  In many cases, even if you can afford both to buy and renovate the house, investors are outbidding and paying cash.  That’s pretty hard to compete with.

So what can buyers do to have a better shot at getting their offer accepted?

  • Get pre-approved and include the letter with your offer. This may seem really obvious, but you’d be surprised how many folks overlook it.  If you are lucky enough to pay cash, include proof of funds.
  • Use the right forms and sign all of the appropriate places in the offer. Again, this may seem obvious, but this is one of the primary areas where costly mistakes happen.  Skipping the Wood Destroying Pests addendum for example leaves huge questions as to whether the buyer or seller is paying for pest infestation related damages.  From the sellers’ perspective this could be a red flag of unexpected costs to come.  From the buyers’ perspective, it could leave you open to a huge repair expense if you really want the house.  This is just example of many similar issues.
  • Forget about the listed price. Base your offer on current comparable properties.  Just because a house is advertised at $200,000 doesn’t mean it’s worth $200,000.  If it’s only worth $175,000, then that’s what you should offer.
  • Offer a fast closing date. Most sellers are anxious to get the transaction over with and move on with their lives.  If you offer a fast closing date both you and the seller get to move sooner.
  • Include a summary page with your offer. By the time you complete all the documents necessary to make a purchase offer, you will have a stack of paper that’s somewhere between 12 and 25 pages.  It’s hard for a seller to wade through all those pages to see what the offer really is so they depend on their agent to distill the essential points.  Make it easier not to overlook the benefits of your offer by providing a summary of the price and terms on a single sheet.

If you follow these five tips, it should help to get your next offer accepted.  Interested in buying or selling real estate in the greater Tehachapi or Kern County area? I’d be happy to help.  Call me, Sally Lawrence, at 661.375.REAL or email me to discuss your needs.

If this is your first visit, please subscribe on the upper right, share with your friends, like our Facebook page — you know, all the usual stuff.

Thanks for reading!

Sally Lawrence

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Free Lunch?

People say that there’s no such thing as a free lunch.  Well, there is at least a chance for one.    You can definitely get a free drink to go with your lunch (or dinner) at Blue Ginger Pho.  Just print out the coupon below.  You may also be able to get a free lunch.  Watch the short video for details.

Blue Ginger Pho

Blue Ginger Pho

Click on the images above to open the coupons in a new window for printing in full size.  Remember, if you have a business card, you can just leave that to enter for the free lunch drawing.  Don’t forget to share with your friends!  “Like” our Facebook fan page, too!

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Tehachapi Home Buyers See Mortgage Fees Increase

Fannie Mae and Freddie Mac are raising risk fees charged to lenders on loans they buy for resale to investors for the first time since 2009.  They are also adding risk fees to more loans offered to borrowers with exemplary credit.   Although lenders could absorb the cost, most are expected to add the fees to loan costs.

  • To avoid a fee or to receive a discount, most borrowers will need FICO scores of 740 or better and down payments of at least 25 percent.
  • The fee increases likely will affect most loans with terms longer than 15 years that are sent to Freddie beginning March 1, and to Fannie beginning April 1.
  • The most notable aspect of the fee increase is that the fees are being added to more loans to borrowers with higher credit scores.  With few exceptions, risk fees previously hadn’t applied to borrowers with FICO scores of 740 or higher.

I often say that now is the time to buy.  If you have excellent credit, closing on a Tehachapi or Kern County area home loan before March or April could save you money.  Everyone likes to save money don’t they?

Thanks for reading this!  If you enjoyed the article, please share with your friends too.

Sally Lawrence

Questions, comments post below.  For faster response, call or text Sally at 661-375-7325 (375-REAL), or email Sally@HomeSalesSally.com .

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