Emily Rose Newmark's Blog

Today’s Buyer is Thinking Green

Emily Rose Newmark (Keller Williams Realty) — Fri, 27 Mar 2015 10:49:07 -0700

Today’s Buyer is Thinking Green Here’s a great infographic I wanted to share with you from Realtor.org. Being an agent in Southern California, I have had my fair share of eco-conscious Buyers that are looking for ways to Go Green. From methods as complex as solar panels to live “off the grid” or as commonplace as Energy Star appliances and fixtures, many more people are interested in reducing their carbon footprint as well as conserving water. Today’s Buyer is Thinking Green In this severe drought we are experiencing in California, a popular choice for landscaping is using drought-resistant and/or native plants, or even foregoing landscaping altogether and installing a rock garden. Today’s Buyer is Thinking Green So check out this infographic and comment below what you have witnessed in terms of Going Green in your business!

Real Estate & Technology Go Hand-In-Hand

Emily Rose Newmark (Keller Williams Realty) — Fri, 09 Jan 2015 06:59:09 -0800

Real Estate & Technology Go Hand-In-Hand As Agents, the latest technology is key to keeping up with the times and continuing a steady business flow. From Buyers searching for properties to Sellers marketing their home, an ad in the newspaper just doesn't cut it anymore. We are WAY beyond that now! According to this infographic from CAR.org, an astounding 89% say they use online resources in the process of home buying. It doesn't end at searching for a property either. Researching an Agent, Lender, property values, neighborhoods, etc., is all part of the process. Having an Agent that is tech savvy on top of being markey savvy is the way to go. Real Estate & Technology Go Hand-In-Hand When I'm working with a Buyer, we use MLS searches as well as e-mail blasts and postings to off market networking sites to find the perfect home. Reaching 1000's of agents with the click of a mouse is essential to finding the right property these days. With Sellers, I create a website, virtual tour, YouTube Links, e-mail blasts, offer market postings before the listing hits the MLS, and even online advertising on top real estate sites around the world! Real Estate & Technology Go Hand-In-Hand My office is a paperless office. In any given transaction, e-mails, texts, scans, e-signatures are sent and received over and over throughout the process and everyone involved is kept in the loop. Long gone are the days of sitting at a huge table and signing your name 100 times over. Clients even receive all of their transaction documents on a flash drive after close of escrow! I have a ton of respect for Agents the sold property in the days before the Internet and E-mail, I don't think I would have lasted! Haha! Technology is essential to our business these days, never take it for granted!

Communication is Key to Opening Doors in Real Estate

Emily Rose Newmark (Keller Williams Realty) — Fri, 19 Dec 2014 08:29:29 -0800

As you can see from this visual, millennial home buyers want answers and they want them now! I think this is true for ALL human beings who are buying or selling a home. More often than not, the purchase or sale of a property will be one of the largest financial transactions a person will complete in their lifetime and having a Professional on their side to guide them through and answer questions as they arise is KEY to getting the deal done! Communication is Key to Opening Doors in Real Estate Agent response times are one of the biggest complaints clients have. When they have urgent questions that come up, they want answers ASAP & their agent is expected to get back to them in a timely manner. Buyers considering a property want all of the information about that home at the tip of their fingertips and with the aid of today's technology they are usually able to have it! All of my listings receive their own unique website and buyers who find it on line or drive past the house are able to access the info 24/7. They can even message me directly through the site & get most of their questions answered quickly if I am on my cell phone and able to respond which is usually the case. Communication is Key to Opening Doors in Real Estate Keeping my clients and prospective Buyers of my listings informed and in the know about every step of their transaction is my top priority and a huge part of my success! It's why I receive the Refereal business I do from my wonderful loyal clients!

Thank you Real Estate. Gratitude is the Best Business Practice!

Emily Rose Newmark (Keller Williams Realty) — Tue, 25 Nov 2014 02:11:29 -0800

Thank you Real Estate. Gratitude is the Best Business Practice!As I begin to wind down my 2014 Real Estate whirlwind and prepare to host Thanksgiving surrounded by loved ones, I realized there is no better time than the present to reflect on the past year in pure Gratitude! Thank you Real Estate. The best business on Earth.One of my favorite affirmations is "Gratitude for the substance at hand duplicates the substance indefinitely." I can attest to the truth of this statement. I wake up every day and thank God for this life that I've been blessed with and the opportunity to live another day. Most mornings I write in my gratitude journal, only positive things, and even if I have worries & concerns, I find a way to be grateful for them. There is a blessing in every dark situation! It's amazing what happens when you operate from a place of gratitude! Great things happen.Thank you Real Estate. Gratitude is the best business practice!2014, my fourteenth year in Real Estate has proven to be my most productive year in the business yet! With 29 closed escrows to date and a nice handful still to close before the end of the year, I am so extremely thankful to all of those who helped make these closings possible.First and foremost I am thankful for my amazing loyal clients & their beautiful families. They are the heart of my business. Their referrals and loyalty keep me going every day! I strive to take the best care of them and in turn they take care of me. The residential real estate process can be emotionally draining and I hold their hands and guide them through all hurdles and obstacles until we get to the joyous end result. It's worth every bit of the struggle, every time. The love and appreciation my clients show me is a huge part of my "Why." Why I get up everyday and work so hard. There is no better feeling than handing over the keys to someone's dream home they worked their entire lives to achieve, or making it possible for someone to grow their investment portfolio, or realize a great return on the sale of a home they have loved and move on to bigger & better....Thank you Real Estate. Gratitude is the best business practice!A great realtor doesn't do it all alone, there are no less than 15-30 people working tirelessly behind the scenes to achieve a successful closing and I am so grateful to the 100's of people who worked so hard on every escrow I've closed this year! Escrow officers, Title officers, mortgage bankers, appraisers, Transaction coordinators, retrofitters, inspectors, underwriters, my office administration, and my most cherished one of all...Suzanne Smith, my right & left hands at times, my Assistant, Marketing Coordinator, and newly crowned TC!!! Without her and everyone above I would be lost! THANK YOU!Thank you Real Estate. Gratitude is the best business practice!Gratitude for the substance at hand duplicates the substance indefinitely. Truer words have never been spoken. The more I reflect on my blessings and appreciate the business I have created, the more business I create! It's the laws of attraction.Hard work, dedication, and gratitude is the formula for success!I am also profoundly grateful for my amazing Husband, our sons, & our loving family. Without the support of my family cheering me on, celebrating the highs, uplifting me when I get overwhelmed & overworked, and holding down the fort, my rewarding career would not be possible.Thank you Real Estate is an understatement. This is an industry that doesn't discriminate. We have former Attorneys, CPAs, immigrants from all over the world, and regular folks like me all working side by side as Realtors. If you can dream it, take consistent ACTION, and remain grateful, you can achieve greatness! Fifteen years ago I was a single teenage mother with a junior college education and a long road ahead of me. Thank God for Real Estate!Thank you Real Estate. Gratitude is the BEST business practice!Happy Thanksgiving Everyone, may you and your family be blessed with an abundance of love, great food, wealth and happiness this holiday season and always.Emily Rose Newmark (Lewis)

Earthquake Preparedness - Are You Ready?

Emily Rose Newmark (Keller Williams Realty) — Mon, 20 Oct 2014 04:10:25 -0700

Earthquake Preparedness - Are You Ready?

BEFORE AN EARTHQUAKE How well you, your family and your home survive an earthquake often depends upon how well you prepare beforehand. Develop a family and neighborhood earthquake plan. The following checklist will help you get started: Prepare an emergency kit of food, water, and supplies including a flashlight, portable battery-operated radio, batteries, medicines, first aid kit, money and clothing. Know the safe spots in each room - under sturdy tables, desks, or against interior walls. Know the danger spots - near windows, mirrors, hanging objects, fireplaces and tall, unsecured furniture. Conduct practice drills so you and your family know the safe locations in your home. Decide how and where your family will reunite if separated during a quake. Choose an out-of-state friend or relative who family members can call after the quake to report their whereabouts and conditions. Learn first aid and CPR (cardiopulmonary resuscitation.) Learn how to shut off gas, water, and electricity in case the lines are damaged. SAFETY NOTE: Do not attempt to relight the gas pilot. Call the utility company. Check chimneys, roofs, walls and foundations for stability. Make sure your house is bolted to its foundation. Secure your water heater and major appliances as well as tall, heavy furniture, hanging plants, mirrors and picture frame s - especially those over beds. Keep breakables, heavy objects, flammable or hazardous liquids such as, paints, pest sprays and cleaning products, in secured cabinets or on lower shelves. Organize your neighborhood to be self-sufficient after a quake.DURING AN EARTHQUAKE If indoors, stay there. Get under a desk or table or stand in a corner. If outdoors, get into an open area away from trees, buildings, walls and power lines. If in a high-rise building, stay away from windows and outside walls. Get under a table. Do not use elevators. If driving, pull over to the side of the road and stop. Avoid overpasses and power lines. Stay inside your car until the shaking is over. If in a crowded public place, do not rush for the doors. Crouch and cover your head and neck with your hands and arms.AFTER AN EARTHQUAKE Unless there is an immediate, life-threatening emergency, do not attempt to use the telephone. After a quake, be sure to: Check for gas and water leaks, broken electrical wiring or sewage lines. If there is damage, turn the utility off at the source and immediately report gas leaks to your utility company. Check for downed power lines; warn others to stay away. Check your building for cracks and damage, including the roof chimneys and foundation. Turn on your portable radio for instructions and news reports. For your own safety, cooperate fully with public safety officials and follow instructions. Do not use your vehicle unless there is an emergency. Keep the streets clear for emergency vehicles. Be prepared for aftershocks. Stay calm and lend a hand to others. If you evacuate, leave a message at your home telling family members and others where you can be found.

Earthquake Preparedness - Are You Ready?

An Important Message About Realtor Safety!

Emily Rose Newmark (Keller Williams Realty) — Mon, 06 Oct 2014 05:54:25 -0700

As most of you are probably aware, the recent death of an Arkansas Realtor has hit way too close to home for us all. I wanted to share this important infographic with a reminder that we must always be aware of our surroundings and that no commission is worth your life. Trust your gut, and don't be afraid to ask for identification from a new client. I'm including a link to an article about exactly this in case you haven't heard the story yet. Risky business: Real estate agent's killing hits home for Realtors Stay safe out there everyone!!!

GENERATION X STILL DROWNING IN THEIR HOMEOWNERSHIP?

Emily Rose Newmark (Keller Williams Realty) — Fri, 29 Aug 2014 08:20:46 -0700

Well I'm happy to report (per LA Times) that only 9.3% of Los Angeles homeowners are under water now compared to the rest of the nation at 17%. Sadly though it seems that my own generation of homeowners ages 35-44, Gen-Exers, make up for nearly half of those negative equity homes at 45.8%!! GENERATION X STILL DROWNING IN THEIR HOMEOWNERSHIP? Baby Boomers and older buyers had more time to pay down debt and benefit from price run-ups before the housing crash. Younger buyers – Millennials – largely haven’t yet bought houses, but those who have benefited from low prices after the bust and likely made a large down payment. But Gen-Xers were entering prime home-buying years a decade ago, just as prices soared, then plunged. They have definitely been hit the hardest!! I have several Gen-X clients myself who were forced to short sale a few years ago and are now patiently awaiting the time to pass before they can re-enter the housing market! I fear that they may be ready when prices are once again at another peak. GENERATION X STILL DROWNING IN THEIR HOMEOWNERSHIP? Prices increased tremendously during 2013 but have slowed this year. We are not seeing nearly the amounts of multiple offers and bidding wars as Summer of 2013 in Los Angeles. I hope that we can reach a "normal" market in which we can enjoy some stability for several years to come!

Gen Y Is Ready to Buy

Emily Rose Newmark (Keller Williams Realty) — Tue, 29 Jul 2014 04:42:55 -0700

Here's an interesting info-graphic from California Association of Realtors!

Traditional Buyer vs. The Investor - Round 2!

Emily Rose Newmark (Keller Williams Realty) — Wed, 16 Jul 2014 06:36:25 -0700

When the Real Estate market took a turn towards recovery in late 2011, early 2012, everyone was excited to jump back in & make those purchases they had been sitting on the fence on for so long! Traditional Buyer vs. The Investor - Round 2! Traditional buyers who required loans to purchase homes found themselves in a steep uphill battle against the all mighty CASH investor who at the time was willing to pay more based on speculation & could close sweet painless escrows with virtually no contingencies in record timing such as 10 days or often even less! Those market conditions made it very hard for the sweet young family or first time single college grad to compete! Many of them had no choice but to sit back & wait, or buy the finished product of these cash "flippers" at a premium. Fortunately for those who got in the Real Estate game early on when prices started to rise, they still got great deals and have now built considerable equity by now! Traditional Buyer vs. The Investor - Round 2! Fast forward to Summer of 2014.... Hungry cash investors need to curb their appetites as they are now LOSING to Mom & Pop in multiple offers! Owner users are now able to offer more than Mr. Cash who needs to maintain a certain profit margin to stay in the game. In my local marketplace Sherman Oaks, California where price per square foot can easily be $400-500+, it's the financially stable family who saved up through the recession years and can now qualify for a purchase who are stepping up to buy their dream homes, or at least buying into their dream neighborhoods and taking those cosmetic fixers that the investors salivate over and making them their own to enjoy for years to come! Traditional Buyer vs. The Investor - Round 2! Affordability is way down and many people are fearful of a bubble and while I do not have a crystal ball, I can tell you from experience that this rise in prices is VERY different in my area than the "bubble" years of 2005-2007. Back then if you could fog a mirror with your breath, you could buy a home with 100% financing! There was NO skin in the game! People were buying homes at a premium with no equity in them whatsoever! Today's marketplace is extremely different and way more solid in my opinion. My deals are all closing with huge down payments, rarely even 20% in fact usually 30-50% down and many even all cash! There are mass amounts of cash out there and not from investors! Regular people who have made wise decisions and saved vigorously over the past decade. In addition to the large amounts of equity in the properties, we have MUCH more conservative lending guidelines to further protect us from a large wave of foreclosures on the purchases of 2011-2014. Borrowers today must actually be QUALIFIED! Traditional Buyer vs. The Investor - Round 2! So although I do admit that we cannot sustain the prices continuing to rise at the pace that they have over the past 18 months, we are still way ahead of where we were during the last peak and in a much more solid marketplace today than years past. I would love for inventory to loosen up some and allow for prices to flatten out a bit so we can enjoy a healthy market for years to come!! If you need to buy or sell a home in the Los Angeles area, I'm always happy to help you any way I can!

Pent Up Housing Demand Driven By Fear

Emily Rose Newmark (Keller Williams Realty) — Thu, 03 Jul 2014 04:10:15 -0700

As housing markets slowed a bit year over year across major markets we ponder the causes. One I can definitely speak of in my own business is the new stricter lending guidelines that have been broadcasted to would-be home buyers leaving them fearful that they won't qualify. Even some people with the best of credit scores and decent savings are questioning their ability to purchase their first home, or jump back into the housing market again after walking away from their homes many moons ago. Pent Up Housing Demand Driven By Fear Let's face it. Applying for a mortgage is as uncomfortable and probing as a colonoscopy for some people. That’s even people who know they have great credit!! Another fear factor is the huge amounts of cash in the real estate marketplace right now and the conventional buyer not wanting to compete for homes against the all mighty "cash is king" mentality. That is a real concern, especially here in Los Angeles where people have SO much money! Pent Up Housing Demand Driven By Fear Even in my little sliver of the LA real estate market I currently have 3 out of 5 escrows that are all cash purchases totaling more than $2.1 Million. In 2 of 3 of those deals, the cash buyer won over multiple offers where the other offers were buyers looking to purchase with financing. Pent Up Housing Demand Driven By Fear My advice to would-be conventional buyers is to take the first step towards loan approval. It's really not that bad if you just put your mind to it and work with the right loan professional! I have one for you if you're in California so feel free to contact me. He holds your hand and makes it easy! Then, find yourself a GREAT agent who's extremely savvy representing Buyers in your local marketplace. Someone with relationships with many local agents who can network for OFF market listings for you that may not have as much competition and who has the right strategies for beating out the cash monsters! Lol If you're in the LA area and in need of someone like that. Give me a call! 818.355.9988 Happy 4th of July everyone! Please enjoy it safely.

Kids, The New Voice Driving Home Buyers

Emily Rose Newmark (Keller Williams Realty) — Fri, 06 Jun 2014 05:33:46 -0700

For ages we have always considered our children when we purchase a home. We used to look at the bed/bathroom count appropriate for the size of the family, and proximity to local schools. But gone are the days that Mom and Dad simply chose a house, packed up the family and the dog and said "It's moving day!" Today we are raising a generation of children whose individuality, leadership, and decision making skills are encouraged more than ever. Therefore, parents are turning to the little ones for their input on homes which they are considering for a purchase. Parents are putting much more weight and value on their children's opinion while making the big decision. I notice this trend increasing much more in recent years than I did when I began selling homes 14 years ago. Kids, The New Voice Driving Home Buyers In the past, my clients would schedule showings with me specifically when their children would not be with them. Now parents will schedule showings intentionally around the kids school and activities so decisions can be made as a family unit. As a Realtor, I definitely encourage this practice since moving can be a very traumatic event in a child's life. Yet, if a child is excited about their new home and felt included in the decision on where to move, it can create a much smoother transition for the entire family. Children's basis for their opinions on any particular home can be totally different and sometimes comical, "I want to move to the house with the cute dog next door," or "I want the room with the Sponge Bob collage." Also, I believe that children are innately in touch with their 6th sense and are much better at feeling the "energy" of a particular house, good or bad. Kids, The New Voice Driving Home Buyers Whether you choose to take your kid’s opinions into consideration is up to you, but a different, sometimes more simple perspective can be a good thing. As adults we tend to over-think and over-analyze. Kids can be brutally honest with less of a filter and so they just might see something you didn’t. Here’s a great article from Realtor.com on what to look for in a family home when considering a new space for your kids to thrive in: Buying A Home When Considering Children

Greedy Home Sellers + Cautious Home Buyers = Flat Market

Emily Rose Newmark (Keller Williams Realty) — Mon, 19 May 2014 08:23:17 -0700

Greedy Home Sellers + Cautious Home Buyers = Flat Market More & more indicating factors are leading us to a cooling off of the crazy hot market we experienced in Southern Cal for all of 2013. Recent surveys show that over 40% of Home Sellers this spring are planning to price their homes ABOVE market value! This strategy is not wise folks! Buyers in today's market have very little tolerance for over-priced homes this year and will likely pass them up letting listing after listing sit on the market stagnant until the Seller is forced to take action by lowering the price, or removing it from the market all together. Several Sellers are deciding to lease their unsold homes for the time being as well. Greedy Home Sellers + Cautious Home Buyers = Flat Market If Sellers do choose to opt for price reductions on their over priced listings, they are not guaranteed a favorable market response even then! Many home Buyers see price reductions as something "wrong" with the house or they have simply lost interest in it all together or bought a more reasonably priced home by the time the reduction occurs. The truth is, and I tell ALL of my Sellers this, its only an exciting "New Listing" once. The amount of traffic a new listings gets....like showings, visits to websites, inquiries, and open house visitors is the greatest in the first 2 weeks on the market! You will never get that kind of exposure and excitement with a price reduction unless you're GIVING the property away! Greedy Home Sellers + Cautious Home Buyers = Flat Market The moral of my story here is....Sellers, please don't take the 20+% your property has increased in value over the last year and try to squeeze more out of it! Take it at fair market value or lightly above if you're lucky, and run! Otherwise, you will wind up chasing the market and settling for less or just being stuck with the property for now until prices slowly get to where you'd like them to be. It's a great market out there for a Savvy Buyer or Seller! Happy Monday!

US Homeownership Rates Drop! If You Can Qualify, Buy Now!

Emily Rose Newmark (Keller Williams Realty) — Fri, 02 May 2014 06:21:04 -0700

US Homeownership rates have reached a 19 year low in the first quarter of 2014. While the residential rental market tightens.As home prices continue to rise or level off at prices higher than many families can afford, and lending guidelines continue to become more stringent on borrowers, more & more families are opting to temporarily rent homes vs buying.US Homeownership Rates Drop! If You Can Qualify, Buy Now! What does this mean to you if you are a qualified buyer in today's market?BUY NOW! Take advantage of the huge drop in your competition in the marketplace vs this time last year! Last year you were competing with at least 10-15 other qualified buyers for every great house. This year it's much quieter and your chances of scoring a deal are much higher! Sellers who expected a feeding frenzy on their homes are sometimes hearing crickets so let's make offers and negotiate you a great deal on your perfect home!Rates are also still historically low. Take advantage NOW while they are still available!US Homeownership Rates Drop! If You Can Qualify, Buy Now!Why compete against other renters to pay premium rents and throw your money away with ZERO tax benefits when you can own?Call me today if you want to be a homeowner & want a caring expert to guide you through the entire process from start to keys in your hand!!Pick up the phone Los Angeles! 818.355.9988

Signs Point to Healthier Market for Spring Home Buyers

Emily Rose Newmark (Keller Williams Realty) — Fri, 25 Apr 2014 10:26:57 -0700

Signs Point to Healthier Market for Spring Home Buyers A recent report by Realtor.com shows there has been year after year growth in inventory and days on market which means Spring home buying will be in a good place! National home sales in March 2014 are up 9.5% over March 2013. The median list price is up 5.3% as well! Signs Point to Healthier Market for Spring Home Buyers The market is more balanced now than it was last year and we are going into the "Real Estate Season" so it will be interesting to see how it plays out over the next few months. Check out this infographic from California Association of Realtors... Have a great weekend everyone!

Affordability Vanishing in Prime Markets!

Emily Rose Newmark (Keller Williams Realty) — Fri, 11 Apr 2014 01:21:37 -0700

Affordability Vanishing in Prime Markets! If you want to live in one of the major metro areas across the country, you might be noticing that buying into the most popular neighborhoods is no longer feasible as the market has now corrected itself to the point that affordability is now becoming a major issue in many major markets. Some families have begun to dedicate huge portions of their monthly income to housing nowadays! Over the last several years when prices were up to 30% lower in some areas, people were able to purchase homes in areas they could only dream of only a few years prior. But now, as home prices have appreciated tremendously at a rapid rate, people's incomes have not increased along with property values so many people find themselves priced out of the market and begin looking to move out beyond the suburbs even to find affordable housing. Affordability Vanishing in Prime Markets! One commonly held rule of thumb for American homebuyers is that families should devote no more than about 28 percent of their incomes to housing. But in certain parts of the country, that's easier said than done. By the end of last year, the median family would need to devote much more than a third — up to nearly forty percent — of its income to mortgage payments on the median home in metros like San Jose (36 percent); San Francisco (39 percent); and Los Angeles (40 percent). These proportions are even higher than in the pre-bubble, pre-crash period of 1985-2000, when the median household would have needed to devote still substantial percentages of its income to afford the median house: 32 percent in New York; 35 percent in Los Angeles; 35 percent in San Jose; and 38 percent in San Francisco. Affordability Vanishing in Prime Markets! I actually welcome any conditions that will help slow down the recovery to a more sustainable pace. We need to see the housing market stabilize and slowly grow rather than the craziness we saw last year in order for prices to continue heading in the right direction. Rates are up as well as prices so I expect we might see a leveling off in 2014 following the market frenzy we saw last year!

SPRING HASN'T QUITE SPRUNG IN SUNNY SO CAL!?

Emily Rose Newmark (Keller Williams Realty) — Tue, 01 Apr 2014 06:33:36 -0700

SPRING HASN'T QUITE SPRUNG IN SUNNY SO CAL!? No April fooling....Generally, the spring selling season is the prime time in Residential Real Estate because most families with school aged children like to do their home shopping, close escrow, and get all settled in before school starts! In the Los Angeles area, schools are starting earlier the last couple years in mid August, so it has seemed to push the buying rush forward as well! Last year in February & March of 2013 I was seeing 30+ offers on some of my listings, and competing against even more than that on some of the hottest listings. One home my clients bid all cash $30k over asking, only to get beat out by much higher offers and that particular home sold $130,000 over asking!! SPRING HASN'T QUITE SPRUNG IN SUNNY SO CAL!? This year, 2014, not so much. Now I am definitely grateful to be extremely busy working on 8 escrows currently, however I am not seeing the frenzy of a year ago. Why? Affordability is decreasing my friends. We saw a 15-20% increase in prices over the past year in the prime micro-markets across Los Angeles. People at this time last year were still locking rates in the 3% range and pricing and inventory were much lower! The selection of homes for a discerning Buyer to choose from around here has certainly grown, I believe we have over 4 months supply of inventory on the market while in recent history we had less than 3 months supply! SPRING HASN'T QUITE SPRUNG IN SUNNY SO CAL!? I have a couple beautiful homes listed now that are priced at the top of their market value and they haven't moved in a few weeks on the market. It's time for Sellers to once again get realistic on pricing to get their homes sold! No more testing the market with higher prices and getting lucky! At least not for now. Its funny to me that 4-5% interest rates are considered high lately when historically they are extremely low! It's a great time for Buyers to get out there and negotiate a great deal for themselves with many more homes to choose from and rates where they still are! Happy Spring 2014 Everyone!!

The 2014 Disappearing Distressed Market

Emily Rose Newmark (Keller Williams Realty) — Fri, 14 Mar 2014 08:24:33 -0700

The 2014 Disappearing Distressed Market I'll never forget the weekly office meeting in 2007 when my first short sale emerged and all of the more experienced agents in the office who had dealt with short sales in past markets began to cringe and brace themselves for impact. All I could say was, "what is a short sale?" I was 5 years into my career at the time and I thought I had a lot of deals under my belt and considered myself experienced yet had never heard the term short sale. So from that day on up until recently, my business grew to consist of approximately 60% distressed sales and foreclosures. Needless to say, I have become an expert on short sales in the last 7 years. I am not sad to see them go, LOL! The 2014 Disappearing Distressed Market California's distressed housing market is a shadow of what it was at the height of the great recession. Today, distressed sales make up about 30-40% of my business. Of the 7 escrows I have open currently, 3 of them are short sales. The 2014 Disappearing Distressed Market As a Realtor and a people person, I'm so happy to see less and less families losing their homes and walking away from all that they had worked so hard to build. As the market in California continues to improve, it is such a joy to see my clients benefit fromt the prosperity the new market brings us. I just hope that we keep a handle on the prices and that we are able to sustain a long term growth rather than a short term bubble. Have a great weekend everyone!

San Fernando Valley Housing Market 2014

Emily Rose Newmark (Keller Williams Realty) — Thu, 06 Mar 2014 01:40:16 -0800

San Fernando Valley Housing Market 2014 The housing market in the San Fernando Valley is off to a slow yet steady start. According to a recent article from Los Angeles Daily News and data pulled from Southland Association of Realtors, resale homes fell 11% from January last year, 393 closed in 2013 whereas 349 closed in 2014. Even with the dip in closed sales however, the median home price has gone up from $420,000 last year to $485,000 this year and up 2% from December 2013. San Fernando Valley Housing Market 2014 This slow increase in sales is promising as we usually see a decrease at this time of year. That did reflect in condo sales which fell 6% from last year closing 152 units this year down from 162 in 2013 and down 27% from December. San Fernando Valley Housing Market 2014 The good news is that foreclosures and short sales are few and far between these days. 34% of sales in January 2013 were distressed properties, this year, only 15%! This is the lowest percentage since June of 2012. Foreclsoures alone dropped 61.5% from last year. San Fernando Valley Housing Market 2014 While sales are slowly climbing, inventory is still very low. There were 1,297 houses and condos up for sale at the end of January, up 26.5% from last year, but that is still only a 2.6 month supply and a 6 month supply is considered a balanced market. The chart below is for all of California to give you an idea of how we compare in the Valley to the state as a whole.

How Well Do You Know Your Landlord/Tenant Laws?

Emily Rose Newmark (Keller Williams Realty) — Thu, 27 Feb 2014 05:28:10 -0800

How Well Do You Know Your Landlord/Tenant Laws? According to a recent Zillow press release, an overwhelming amount of tenants and even landlords have vast misconceptions about current laws in place to protect both parties. It's always important for anyone to understand their rights when it comes to entering into a contract, real estate or otherwise. The results of this Zillow Rentals Survey is a bit shocking. How Well Do You Know Your Landlord/Tenant Laws? A whopping 82% of tenants and 76% of landlords have a misunderstanding of laws on security deposits, credit and background checks. Landlords and tenants alike reported in the survey they believed a landlord had up to 60 days to return a security deposit, either in full or itemized for damages and return the remaining balance. But in actuality, a landlord has 14-30 days to do so. How Well Do You Know Your Landlord/Tenant Laws? 62% of tenants and 50% of landlords were not clear on laws around early lease termination. The misconception being that a landlord has a right to terminate a lease early in order to rent out the property to a friend, family member or to another party for a higher lease fee. A landlord may not terminate a lease before it expires on any of the above mentioned grounds. The vast expanse of these misconceptions from both parties is a recipe for legal action and disputes. Knowing your tenant and landlord rights is crucial when entering into a lease contract. How Well Do You Know Your Landlord/Tenant Laws? When it comes to background checks one of the most common misconceptions is that a landlord has the right to refuse to rent to someone with a prior conviction of illegal drug use. Landlords do have the right to refuse a lease to someone with certain criminal convictions or the sale of illegal drugs, but not for previous (convicted) useage alone. But it's not all bad news, landlord and tenants surveyed seemed to know the most about discriminatory advertising for rentals, requirements around terminating month-to-month rentals and responsibilty for repairs and maintenance. So if you currently rent, currently have tenants or have plans to rent or become a landlord, be sure to brush up on your local tenant/landlord laws. It could potentionally save you money, time and headache in the future.

The Home Buying Process Is A Lot Like Dating...

Emily Rose Newmark (Keller Williams Realty) — Sun, 16 Feb 2014 05:32:39 -0800

The Home Buying Process Is A Lot Like Dating... Have you ever fallen in love.....with a house? Many of my clients have and it has overpowered the fact that they may not have had that extra 200 square feet they were looking for, or that center island kitchen. When you're in love, you're in love. The Home Buying Process Is A Lot Like Dating... Realtor.com conducted a survey of 1,082 people and 69% of them reported having a "home crush" as the survey called it. Much like modern dating, almost 80% of home buyers find that one house that catches their eye online, then roughly one-third of them actually go see it in person. Not surprisingly, men and women define their discovery of house-love a little different. How familiar does this sound ladies? 41% of women fall in love with a home out of their price range, while only 30% of men do. On the flip side, men tend to move from one "crush" to another, 36% of men find a new crush weekly, as opposed to 29% of women. The Home Buying Process Is A Lot Like Dating... The "dating" element of home buying can be akin to checking if you and the home you're interested in are compatible. Square footage, features, yard, etc. Many times though, especially when physically being in a new house, it's the feeling you get when you walk in the front door, or see the backyard for the first time. We tend to immediately visualize the kids playing, or ourselves jumping in the pool at a summertime BBQ. Outdoor areas are the most appealing to men and women. Yards, decks, patios, pools are the biggest draw. While indoor factors such as open floor plans are high on the list for women and garages for men. The Home Buying Process Is A Lot Like Dating... Potential buyer beware. That house you just fell in love with online can break your heart too. A client asks to schedule a showing and an offer was just accepted. Or you might even get to put in an offer and get beat out by someone else. Depending on your dating style, you might want to cast a few more lines to attract the best "mate" or at least one that you can live in! So even if you lose out on "the one," unlike people, you can change the things you don't like about your second, third, fourth choice. Redecorate, reconstruct, plant a garden, etc.

Political Correctness In Real Estate Advertising

Emily Rose Newmark (Keller Williams Realty) — Mon, 03 Feb 2014 08:10:53 -0800

Political Correctness In Real Estate Advertising Political correctness is increasingly becoming an issue in Real Estate advertising. As an agent I am constantly looking for words to describe my listings in a positive light without offending anyone who may be reading my descriptions...For example, you cannot say "steps to the elementary school" or "walking distance to shopping and restaurants" because that is considered discrimination against individuals who are physically incapable of walking. Political Correctness In Real Estate AdvertisingOr, when describing a large home with an expansive master suite, it's now not appropriate to say "his & hers closets or bathrooms" because this would exclude same sex couples. I am constantly writing and then re-writing my property descriptions to get them just right because I would never want to offend anyone or find myself in violation! Political Correctness In Real Estate Advertising My buddy's at the National Real Estate Post elaborated on this very topic in their video blog this week.... The National Real Estate Post

Home Improvements That Pay You Back

Emily Rose Newmark (Keller Williams Realty) — Fri, 17 Jan 2014 08:27:01 -0800

Home Improvements That Pay You Back Home improvements can be fun & exciting to do and enjoying the end result with your family is so rewarding! They can also offer a great financial benefit when selling the property, but be careful of which improvements you choose to do so you get the most bang for your buck!! Home Improvements That Pay You BackIn my experience selling homes for many years, updated kitchens & bathrooms offer the most value to a property on resale. So be sure to give those areas special attention especially if you plan on selling your home within 5 years of the improvements. Home Improvements That Pay You BackHere's some other useful info I received on home improvements from the California Association of Realtors...

Retiring Boomers = Downsizing Into The Golden Years

Emily Rose Newmark (Keller Williams Realty) — Sun, 12 Jan 2014 02:32:54 -0800

Retiring Boomers = Downsizing Into The Golden Years According to the trusted Wall Street Journal, Aging "Boomers" are responsible for the rising demand for Condos, Townhomes, and Multi-Family dwellings. I find this to be TRUE as well! Retiring Boomers = Downsizing Into The Golden Years I just listed an amazing penthouse unit in Sherman Oaks, CA and the market response this first week of 2014 has been tremendous! We have had our fair share of young couples coming through, but primarily I have witnessed older couples, downsizing from their large homes around Los Angeles and even across the country on the East Coast come through this lovely condo at www.14960Dickens.com looking for their "downsized" luxury home to unwind and enjoy retirement in.... Retiring Boomers = Downsizing Into The Golden Years The full article elaborating on this new market phenomenon is here: http://blogs.wsj.com/economics/2014/01/07/aging-boomers-to-boost-demand-for-apartments-condos-and-townhouses/

2014 Real Estate Predictions...

Emily Rose Newmark (Keller Williams Realty) — Fri, 27 Dec 2013 01:57:02 -0800

2014 Real Estate Predictions... Happy holidays! It's that magical week between Christmas & New Year's Eve when there's NO traffic on Los Angeles freeways, and everyone is catching up with friends & family enjoying some down time from the daily grind marathon called life! All of my trusted market analyst sources have been gearing up for 2014 and I'd like to share a few predictions with you.... 2014 Real Estate Predictions... 1. The Real Estate market in 2014 will most likely be kinder to well qualified Buyers! More homes to choose from & more strict lending guidelines will thin out the competition some and all the Sellers looking to capitalize on the raise in pricing should help to loosen up the inventory creating a more favorable environment for the motivated qualified Buyer! 2014 Real Estate Predictions... 2. Uncertainty in the lending market is CERTAIN! With the whole "Qualified Mortgage" coming into play, there are a lot of unknown factors in the lending game. One of the biggest changes with "QM" is the qualifying debt to income ratios that will be lowered so folks who squeaked by in 2013 obtaining loans with 45% & even 50% debt to income ratios would no longer qualify for their loans. This is a big deal folks, effecting the entire middle class entry & mid level buyers. Loans that do not fit the "QM" guidelines will be limited to the very wealthy, not the masses. 2014 Real Estate Predictions... 3. Rates are going UP in 2014! I predict that we will see rates in the low to mid 5% range as early as the first quarter of 2014. As the Federal Government begins to taper back their billions in bond purchases each month, we will inevitably see rates begin to rise! The bright side of this is that rising rates are indicative of a healthier economy & come on folks, 5% is STILL HISTORICALLY a fabulous rate!!! Even my own home is financed at 5.2% for another 20 years & I was ELATED to get that low rate 8 years ago! We didn't want to add years to our loan just to take advantage of .75% on the rate earlier this year so we stayed put and remain thankful for our "low" rate! Wishing you and yours health, wealth, happiness, love, good friendships, and laughter in 2014!! This is my last post of 2013, see you all next year!!!

Dreams of a Sherman Oaks FIXER!

Emily Rose Newmark (Keller Williams Realty) — Fri, 20 Dec 2013 07:48:06 -0800

Dreams of a Sherman Oaks FIXER!The demand for great homes has definitely not subsided in the best parts of northern Los Angeles in these final hours of 2013. I have never been busier in November/December than I have this year! Dreams of a Sherman Oaks FIXER!Especially when I came across the famous and ever so hard to find "cosmetic fixer" in the coveted Fashion Square neighborhood of Sherman Oaks CA that motivated buyers salivate over & dream of calling their own. Even more so than a completely "done done done" upgraded home in the same area, a cosmetic fixer offers a buyer the opportunity to purchase a home in otherwise good condition that needs a complete cosmetic overhaul allowing them to create their own personalized dream home! Dreams of a Sherman Oaks FIXER!I sold several homes like this in 2013. Mostly for people or the children of people who have lovingly maintained their homes for 30-60+ years and they were in great shape other than the fact that it felt like walking into the 1950's, 60's, or 70's when you stepped inside!! Dreams of a Sherman Oaks FIXER! Most recently was the sale of this awesome home on Stern Ave in Fashion Square. I met a wonderful family that was ready to sell their home of over 40+ years. It was a trust sale, the children of the original owners would be selling their childhood home after their mother passed. Built in 1948 in the heart of Sherman Oaks, this classic home had a ton of charm. In or out of the real estate profession, you've heard people refer to a home as having "good bones." This one certainly does. Hardwood floors, formal dining room, centralized fireplace, some upgraded systems, 3 bedrooms, 2 baths and a great kitchen with plenty of counter space. The demand for a corner lot property with a nice backyard is incredibly high. The emotional tree lined street grabbed me & every prospective buyer before they even pulled up to this adorable home! With 13 offers, we sold it $61,000 over an already healthy asking price in one week! The Fashion Square location played a huge role in this incredible sale. If you're looking for a great home like the one described above, or even need to sell and want an evaluation of your property, contact me with any and all of your real estate questions. The Happiest of Holidays to you and your family!