Our 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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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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Page 17 of 18

Do You Fit the Average Home Buyer Profile?

The National Association of REALORS® (NAR) compiles statistics on all kinds of things.  In this case, we’e looking at NAR’s take on the average home buyer.  Do you fit the average?

According to NAR, the average home buyer:

  • Spends 10 weeks searching
  • Views 10 homes
  • Is a first-time buyer (41%)
  • Is a repeat buyer (59%%)
  • Has a median age of 30 (first-time buyers)
  • Has a median age of 47 (repeat buyers)

Information sources used in searching for a home:

  • Internet: 87%
  • Real estate agent: 85%
  • Yard sign: 62%
  • Open house: 48%
  • Newspaper ad: 47%
  • Home book or magazine: 30%

Took these actions as result of Internet home search:

  • Drove by/viewed a home: 77%
  • Walked through a home viewed online: 63%
  • Found agent used to search/buy home: 27%

These statistics came from the NAR 2008 Profile of Home Buyers and Sellers.  How well do you think the profle identifies Tehachapi area home buyers?

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Is Flipping for You?

Thinking about getting started in real estate investing?  There are several ways to get your feet wet.  One option is to buy properties that are suitable to use as rentals.  There are many terrific bargains to be had now throughout Tehachapi, Kern County and the rest of the country.

Other investors choose not to hold onto a property once they have purchased it.  This type of investor will buy a distressed property, frequently a foreclosure (also known as bank-owned, or REO), fix it up and re-sell it as quickly as possible.

Critics call the game “flipping” and blame it for a housing bubble that triggered the real estate crash in the first place. But others view it as Business 101, a critical piece of digging out from the crash. Houses with troubled histories get bought, repaired, and quickly resold, generating cash for new business entities to do it again and again.

There are advantages to the neighborhood in which the property is located.  One big advantage is that it’s one less house sitting vacant and decaying in front of the neighbors’ eyes.  Houses that have been flipped also have the tendency to somewhat increase property values since they will quickly sell for a higher price than that for which they were purchased.

Interested in getting started in real estate investing in Kern County?  Use the form on the contact page or call me.  I am ranked 1st in Tehachapi and 2nd in Kern County among more than 27,000 California Real Estate Professionals in ActiveRain.
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What is a Short Sale?

Lots of people have questions about short sales.  What is it? How does it work? Is it good for me as a buyer?  Is it good for me as a seller?  None of the answers are easy, but let’s try to sort out some facts.

What is a short sale? A short sale situation exists when a homeowner owes more on his property than it’s value.   For example, a homeowner purchased a home in 2005 for $350,000 and wants to sell it now.  If the current mortgage amount is $275,000 but the house is only worth $250,000, the seller is “underwater” or upside-down.”  A short sale occurs when the lender agrees to accept less than is owed on a mortgage.

How does it work? When a homeowner realizes he is in a short-sale situation, he should take immediate action and contact the lender to request a short sale (or short pay) package.  The lender will require a number of documents to substantiate that accepting a short pay-off on the mortgage is appropriate.  A competent real estate agent with specialized training in short sale transactions can help guide you through the process.

Is it good for me as a buyer? That question is a little complicated.  Whether or not a short sale is good for you as a buyer depends on many factors.  Short sale transactions often take longer than other types of transactions, so if you need to move on a specific deadline, it may not be the best bet for you.  If you have a flexible schedule in arranging your move, a short sale can be good.  You will likely be able to purchase a property at a reasonable price and feel good for helping out a distressed homeowner.

Is it good for me as a seller? Generally, yes.  The advantages to sellers are many.  In the first place, you can feel good about doing your best to make a bad situation better.  Lenders understand that things happen — jobs are lost, catastrophic illness, or any number of other legitimate issues.  For the most part they are willing to work with homeowners who are suffering from a  hardship.

The downside?  The process will feel invasive and embarrassing.  The lenders are going to exercise every legal method at their disposal to make sure that the homeowner is deserving of help.   At the end of the process you should understand that your credit rating will be adversely affected, but not nearly to the extent that it would in the event of a foreclosure.  And, finally, won’t you fell better knowing that you did your very best to live up to the obligations you incurred?

Get more information. The best thing you can do whether you are interested in buying or selling a home that is a short sale is get more information.  It’s important to work with a real estate agent who understands the short sale process.  One good choice when interviewing an agent is to ask if he or she has any special training in short sale transactions or holds any certifications.  There are many certifications available, such as the SFR® (Short Sale & Foreclosure Resource) available through the Natianal Association of REALTORS®.

You can ask more questions by leaving a comment below, or contact me privately (see the Contact page for email and phone details.)  You can find out more about me here.

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Are Ants in Your Area?

AntSummer is coming to Tehachapi and so are the ants.  Everybody is familiar with the marching armies that seem to be everywhere.  There are lots of ways to battle ants. Sure, you can spray poisons to kill them, but those can be harmful to people, pets, and the environment.  How about some more eco-friendly ways to deal with them? Myles H. Ba der provides some natural solutions in his book 1001 All-Natural Secrets to Pest-Free Property.

Did you know that Cream of Wheat is a natural deterrent to ants?  Apparently they can’t digest it and it is lethal to them.  Powdered borax mixed with maple syrup has the same effect.  That solution is not recommended if you have children or pets.  If you simply want to deter, but not kill, then sprinkle the substances they don’t like to cross, such as ground black pepper, chalk, or cinnamon, near doors or other areas where they can get into the house.

What environmentally friendly methods have you used to deal with ants?

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