Feb. 14, 2019

What You Can Gain by Setting Up a Trust

If you’re a homeowner, you can benefit yourself and your loved ones greatly by setting up a trust.

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Today I’m joined by estate planning attorney Susan Foy to talk about one of the most important items you can have as a homeowner in California: a trust.


Why is having a trust so important?


For one thing, it helps you avoid probate, which is a court-supervised procedure your family would otherwise have to go through to address the transfer of your assets after you die. A trust helps you decide specifically who you want your assets and estate to transfer to. If your family situation is especially complicated or you’re married and you or your spouse has children from a prior marriage, they can be particularly helpful.


Additionally, a trust ensures that all the information regarding your estate and assets remains private, and you save a considerable amount of money by having one written up front instead of writing your will later on.


Also, a trust gives you more financial options than a will does. If your children are minors at the time you pass away, you can provide for them until they turn 18, 21, or whatever age you specify.



      A trust helps you decide specifically who you want your assets and estate to transfer to.



“If you don’t have an estate plan,” Susan says, “the state of California has one for you, but it’s much better for you to be able to set up your estate plan so it reflects your values, your family structure, and your finances.”


Many of the baby boomer generation are entering their golden years, which can mean transitioning to assisted living or moving in with family and leaving a property behind. If you’re entering the later stages of your life and these scenarios apply to you, don’t be intimidated by the thought of setting up a trust. For attorneys like Susan, it’s their job to make the process as simple as possible.


If you’d like to know more about setting up a trust, you can message Susan at her website www.susanfarrisfoy.com. You can also reply to this email and I’d be happy to put you in touch with her.


As always, if you have any real estate questions or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to speak with you.

Jan. 17, 2019

A Seller’s Story on Overcoming the Dark Side of Real Estate

Today I’ll take a closer look at the “dark side” of real estate and share a story regarding some sellers who encountered and overcame it.

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So what am I referring to when I say the “dark side” of real estate? Well, there are times when a home sits on the market for months on end, and despite the seller’s best efforts of going through the entire process, the home still doesn’t sell.


When a home goes unsold after being on the market for three, six, or even 12 months, it can be ascribed to many factors: the price, Realtor, marketing, or a combination thereof. This can be discouraging to a seller who placed their hopes, desires, and wishes in getting the home sold within their time frame. This dark side of real estate is not often talked about.


The key for the seller is to rebound from this experience and to then take the proper steps to get results—the sale of the home.


I’d like to share a story about some sellers who overcame a situation like this by working with us. The home, located in the beautiful city of Yorba Linda, had already been on the market for a number of months. The sellers went through a process that they believed would lead to a timely sale, but had no such luck.



      The key for the seller is to rebound from this experience and to then take the proper steps to get results—the sale of the home.



As soon as they pulled the home from the market, I reached out to express my interest and to assess if our strategy was a good fit for them. Though we couldn’t guarantee a price, we let them know that our process would get them results.


What we assured the sellers came true: We sold the property in eight days for 99% of the original asking price. As you can imagine, this was a complete turnaround for a couple of sellers who, not that long ago, had any hopes of selling their home dashed, and a result, they became one of our biggest advocates.


If you or someone you know wants to sell a property in 2019, whether you're just now considering it or you had little to no success in 2018, please reach out. You can email us at fdelrio@live.com or call/text me directly at 714-335-0844. We look forward to hearing from you!

Posted in Selling Your Home
Dec. 10, 2018

The Latest From Our Holiday Market

This is a different holiday market than the one we saw last year, and buyers and sellers have to adjust their expectations accordingly.

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This is the time of year where both supply and demand typically drop in our market, but the numbers tell us that’s not happening this time around.


Inventory is up 35% compared to this time last year, which means home sellers are facing a lot more competition. On the flip side, demand has decreased by 8% compared to last year. Furthermore, our average days on market has increased from 62 days to 124 days.


What does this mean for buyers and sellers? The bottom line is this: It’s all about expectations.


What can you expect from our market as a seller? Things are starting to shift in favor of buyers for the first time since the start of 2011. Homes are taking longer to sell, but price is still king, and homes that are in great condition and priced accurately will sell quicker than other homes. Pricing your home based on its location, condition, and upgrades is essential.



      Homes are no longer flying off the shelves like they once were.



If your home needs a bit of work or is in an inferior location, you’ll need to adjust your price accordingly and be patient. Moving forward, the market won’t be as fast paced as it has been over the past several years.


What about if you’re a buyer? You may be in the driver’s seat, but prices aren’t dropping, so don’t get ahead of yourself and start writing unrealistic, lowball offers in the hope that a desperate seller will bite. We’re not in a deep buyer’s market—that only occurs when the expected market time surpasses the 150-day mark—but homes are no longer flying off the shelves like they once were, and you don’t have to rush anymore.


If you’d like to know more about our current market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.

Posted in Real Estate News
Oct. 26, 2018

The Simple Steps for Moving Out of State

Moving your family to a new state can be stressful, but it definitely doesn’t have to be.

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Moving out of state is stressful enough—let alone when you add to that the headache of both selling one’s current home and buying a new one hundreds of miles away. However, with my help, this homeowner nightmare was no more than a peaceful dream for the Herrera family.


The Herreras came to us looking to move out of state—something many people are doing these days. Before we even began to talk about putting their home up for sale, we wanted to narrow down some locations they were interested in. After traveling and viewing new areas, they came back excited and ready for the next step.


We made a plan: Put their home on the market and have them moved into their new place in Colorado before winter strikes. We were able to sell their property within 10 days (for full asking price!), and negotiate a great deal on a beautiful house to call home.



      Moving out of the state is stressful enough.



The Herreras told us we made the process feel seamless and certain. We can do the same for you as long as you follow these tips:


1. Do your homework! Visit and find out as much information as you can about the location you’re interested in.

2. Consult with a Realtor. We can explain the costs involved in selling a home, how much your house is worth, and answer any questions you have.

3. Devise your plan. When do you want to put your house on the market? When do you want to move? You’ll want to make sure your home is sold first before you begin negotiations on a new one.


The best option for navigating this process is to give me a call! I can help you with all of your real estate needs, whether you are looking to buy or sell a home, have questions, or would simply like some more information. I’m here to make your life as a homeowner easier, and I look forward to hearing from you soon.

Posted in Buying a Home
July 27, 2018

Hiring a Realtor? Ask These 5 Questions

If you are hiring a real estate professional to help you sell your home, make sure they have good answers to these five questions

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When it comes time to sell a home, you have to make sure that you have the best chance at success. How does one do that? By hiring the best professional representation possible.


Working with a professional Realtor affords you all sorts of benefits when it comes to maximizing the outcome of your home sale. In order to make sure that the Realtor you pick is the best suited for the job, you need to ask these five screening questions:


1. “How many homes have you sold in the last 12 to 24 months?” This number will be a good indicator of whether they work part-time or full-time, as well as if they are somewhat productive or highly productive. A good follow-up to this question is, “What percentage of the sales are listing sales versus buyer sales?”

2. “What is your list-to-sale price ratio?” If your home is on the market for $700,000, what percent of that original price will this Realtor sell it for? This helps you know how strong your Realtor is. Those with percentages below 90 will not be as strong, and may not get you top dollar (no matter how much they claim they will). Those in the high 90s to 100% are the rockstars that will serve you well.



      True professionals are going to show you their specific plan that goes far beyond what you’re used to seeing.



3. “What is your specific marketing plan to sell my home?” Does the Realtor even have one? 95% of all Realtors fall back on the automatic tools issued from their real estate board or their office. These are the ones you already know about—MLS, For Sale signs, open houses, Zillow, etc. True professionals are going to show you their specific plan that goes far beyond what you are used to seeing.


4. “What is your average days on market?” Ask them to compare their personal average with that of the market. This helps you identify how long it should take them to sell your home; that way, you can plan and prepare your move accordingly.


5. Can I contact your past clients or view any testimonials?” Realtors can tell you how great they are until they are blue in the face, but to hear the actual experience from a past client will give you genuine feedback. Personal testimonials will give you a good idea of what you can expect from this Realtor.


If you going to be interviewing Realtors to help you manage one of the largest investments you have ever made, make sure that they can answer these five questions.


To hear my answers to these questions or any other questions you have, please feel free to reach out to me. I would be happy to share the information with you.

Posted in Selling Your Home
July 10, 2018

The Benefits and Tips to Having Good Credit

There are five major benefits of having good credit and five surefire ways to improve your credit score.

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Our preferred lender Lauren Williams is here today to help talk about five major benefits of having good credit and five great tips to improve your credit score.


First, here the five major benefits of having good credit:


1. It will lower the interest rates on the loans and the credit cards you get. If you’re applying for a mortgage, good credit will help with a wider range of mortgage offers. You can save 1% or 2% on the interest rates, which can save you tens of thousands of dollars over the life of the loan.


2. It will leverage your credit card rates and increase your buying power. The better your credit, the more bargaining power you have with your credit card company. They don’t want to lose your business, so they’ll lower your financing rate if you have good credit.


3. It will qualify you for lines of credit. If you’re looking to do a line of credit, having good credit will help you qualify with your bank.


4. It will help with rental approval. If you’re renting a home or an apartment, a good credit score will increase your chance of securing your ideal location.


5. It will lower your auto insurance rate.


Bonus benefit: It will open up better employment opportunities. Many employers nowadays check the credit of their applicants, so having good credit can make you look more responsible than those with a lower credit score.



      A high credit score will save you money in the long run.



Now that you know the benefits of having a good credit score, here are five ways you can increase yours:


1. Always pay your bills on time. This simple act done each month will build your credit and create great financial habits that will pay off in the long run.


2. Keep your balances low. Credit issuers often report your balance to credit agencies on a certain date, typically the last date of your billing cycle, so consider paying all or part of your bill before the closing date so the issuer will report a lower or zero balance. If you need, ask if you can make multiple payments per month.


3. Maintain a credit utilization rate of less than 30%. If your credit limit is $1,000, keep that balance under $300. If you want to get really aggressive, try and keep it around 10%.


4. Tackle your debt. Start with the highest interest rate card or loan, and once that debt is gone, pay down the next account with the lower rate.


5. Avoid using credit cards for large purchases. The compound interest can add up quickly, and it starts going against you if you’re trying to pay off that balance in a timely manner.


If you already have good credit, these tips will ensure that it remains high. Remember—financial institutions and employers put their trust in your credit score. It demonstrates to them that you’re both financially responsible and likely responsible in other areas of your life. In the long run, having a good credit score will save you money.


If you’d like to know more about how to increase your credit score, give Lauren a call at (714) 625-0130.


If you have any other real estate questions for me or you’re thinking of buying or selling a home, don’t hesitate to call or email me anytime. I’d be happy to help you.

Posted in Buying a Home
June 1, 2018

Why You Should Avoid Discounted Commission Offers

Did you receive a discount commission offer in the mail? Today I am explaining why you should avoid them.

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You may not have heard them called this in the past, but you know what a discounted commission offer is. They are the too-good-to-be-true offers homeowners receive in the mail.


These offers promise to save you money, and you’ve probably received countless of these offers in the mailbox.


They are the modern-day snake oil. These offers promise quick remedies, huge savings, and big money payouts to you, but these claims are far from the truth. When I meet with homeowners to discuss listing their property on the market, this is often very difficult to explain to them. It’s hard to get people to understand that these offers are trouble. If you’re among the group who don’t see what’s so bad with discount offers, allow me to share an example of their detriment at work.


Today I am at 751 Sturbridge Drive. This property had been previously listed with another Realtor who had sent the then homeowners an offer to sell their property at a discounted rate. The Realtor promised this would earn them more money. Thinking this sounded like a good idea, the homeowners decided to accept the agent’s offer.



  If you are a homeowner and are looking to sell your home, who you work with matters.



After months will little activity, the Realtor convinced the seller to lower the price by $25,000. But the home still didn’t sell.


Eventually, the seller canceled their agreement with this Realtor, as their home had been sitting unsuccessful on the market for 121 days. This is when I reached out. My team came into the picture and showed the seller a different way to list. Our unique strategy resulted in the home selling in only 12 days for 100% of an asking price that was $35,000 more than what the home was previously listed for.


There were no gimmicks. I offered the truth, a plan of action, and world-class service and resolve. The bottom line is that if you are a homeowner and are looking to sell your home, who you work with matters.


So if you receive one of these discounted offers, remember that accepting it means investing in the person behind it. No matter how good the offer looks, make sure the professional behind it is able to show you their proven results. They must be able to demonstrate how these discounts have positively impacted clients they’ve worked with. In my experience, they will not have any such evidence to show you.


Doing your research is the key to a successful listing experience. Hire a professional who offers to get you full asking price, if not more, and has the proof of past success to back up their claims.


If you have any further questions about this or would like to speak to me about selling your home, please feel free to reach out to me by phone or email. I look forward to speaking with you soon.

Posted in Selling Your Home
April 27, 2018

A 3-Step Guide to Conducting a Successful Contingency Sale

To have a successful contingency sale, you must know what your home is worth, devise a plan with your lender to purchase your secondary property, and then search for a new home.

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If you’re thinking about conducting a contingency sale, what’s the right way to do it?


Before we discuss the ideal strategy for this type of transaction, let's first take a look at what a contingency sale is. A contingency sale is when you need to sell your home in order to buy a new home. A decade ago, we weren’t doing any contingency sales. Back then, we were in more of an institutional market and people didn’t have an opportunity to sell their home and find a replacement home because banks wouldn’t allow it. Prior to that, contingency sales were also tough to do because the market was moving so fast.


Before those two time periods, contingency sales were more common. That’s why if you’re thinking about doing a contingency sale, who you work with matters more than ever. There are Realtors out there who don’t have any experience dealing with contingency sales or are just flat-out scared to walk you through the process.



  The right Realtor can make all the difference when doing a contingency sale.



We, on the other hand, do them on a daily basis, and there are three important steps to a contingency sale:


1. Know what your home is worth. You have to know what your home is worth, what it will sell for, how long the sale will take, and what you’ll net from the proceeds after you’ve paid off all the items that come with the cost of the sale. If you have a good Realtor, they’ll be able to forecast that for you upfront, so you can take that information and move onto the second part of the process.


2. Devise a plan with your lender to purchase your secondary property. Here, you’ll figure out what you qualify for, what your debt-to-income ratio is, what your monthly payment will be, etc. After that, you’ll have a number to work with in relation to how long it would take your home to sell and what you’ll earn from its proceeds.


3. Search for your new home. You shouldn’t list your home first and then go through this process—you’ll really be cutting the legs out from underneath yourself if you do. You also shouldn’t make any offers on any properties if you still need to sell your home. Sellers likely won’t take your offer seriously because there’s no certainty behind it.


The right Realtor can help you with these moving parts. For example, we once had a client who tried doing a contingency sale before meeting us. Of course, they fell in love with their dream home first, made an offer on it, and only then wanted to sell their original home. They ended up losing out on their dream home to another buyer who already had their original home in escrow. After that, they were stuck. They didn’t know what to do because their Realtor didn’t navigate the process the right way and steer them toward a successful transaction. Essentially, they had to go backward.


That’s when they met me at an open house. They loved our marketing, so we laid out a gameplan and walked them through the process I just described above. We listed their home, got it into escrow, found their next dream home, and closed both deals within 45 days.


If you have any more questions about how to conduct a contingency sale or you’re thinking about doing one, don’t hesitate to reach out to me so we can talk about your real estate goals. I’d love to help you.

Posted in Selling Your Home
April 12, 2018

How to Consolidate Your Loan

Loan consolidation is a solution a lot of our clients are turning to. Here’s what you should know about it.

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Today we’re joined by Lauren Williams, our favorite lender, to talk about consolidating your loan so you can save money and not have to worry about these rates as they continue to go up.


Loan consolidation is something that a lot of our clients are looking into right now. If you’re in your current home, we want to help you position yourself so that you are in a prime position of not having to pay through the roof with your mortgage payments or being forced to sell because you can’t consolidate.


Right now, interest rates are going up. The Federal Reserve recently announced that they will be increasing the prime rate again, meaning that a lot of the home equity lines of credit you may have are increasing. Now is the time to get in touch with Lauren to see whether or not you can save more money.



Interest rates are going up soon.



One of Lauren’s clients had three different home equity lines of credit, but she’s saving them $5,000 by consolidating. It’s definitely worth it to explore your options.


To learn more or to find out whether consolidation works for you, give Lauren a call at 714-625-0130. If you have any other real estate-related questions or needs we can assist with, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Posted in Real Estate News
April 2, 2018

4 Reasons to Sell Your Home This Spring

There are four reasons why now is the perfect time to sell as we enter the spring market.

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Springtime is in full force, and there are four reasons to put your home on the market right now.


First, buyer demand will remain strong. Buyers are out in full force right now looking for their dream home. In certain price points, buyer demand continues to outpace the actual supply of homes for sale, which means buyers are often competing with one another for the few listings that are available.


Second, there’s less competition right now. Housing inventory is still under the six-month supply level that’s needed for a normal market. This means that in the majority of the country, there aren’t enough homes for sale to satisfy the number of buyers in the marketplace. Here in Orange County and other LA county markets, home sellers have little-to-no competition in certain price points.



The bottom line is that now is still a great time to get involved in the real estate market.



Third, there will likely never be a better time to move up. Prices are projected to appreciate by 4.3% over the next year, according to various economists and real estate websites. If you plan on moving into a higher-priced home, it will cost you more in terms of your down payment and your mortgage payment if you wait.


Last but not least, it’s time to move on with your life. Look at the reasons you decided to sell in the first place and determine whether it’s really worth waiting any longer. Perhaps it’s time for you and your family to move on and start living the life you deserve.


The bottom line is there’s never been a better time to sell. We have low inventory, lots of buyers, and homes are appreciating. What more could you ask for?


If you have any questions about why you should sell this spring or you do plan on listing your home and you want to talk strategy, don’t hesitate to give me a call. I’d love to help you.

Posted in Selling Your Home