Why you’re home selling price never works out the way you plan?

Selling your house for a right price is an uphill task, most of the seller’s decide the selling price by themselves. However they end up selling at far less than what they have in mind.This happens due to fact that selling house at right price is an art. It requires methodical approach and certain skills. Overpricing is one of the key reasons why may DIY sellers fail to sell their house.

Only experienced and professional listing agents like Dream Equities possess such methodical approach and skills. Although almost 90% of the sellers hire a listing agent, they make a common mistake of hiring a listing agent that promises to sell your house at highest price.

 It is only natural that a seller wants maximum return on his biggest investment however overpriced properties sit on pending sales list way too long. Dream Equity has to turn many such clients insisting on selling their property at overpriced rate because it is impossible to sell overpriced homes even in most volatile housing market. A good listing agent is not particularly fond of long pending sales list.

Listing agents that promise to sell your home at highest price are not just fooling you but they are fooling themselves too.  No buyer will have a second glance at your house if it’s overpriced. Why most of the real estate agents promise you to sell your house at the highest price? Simple, many listing agents will distort truth to get listings. However there are listing agents like Dream Equities that will tell you the right price for your property with supporting documents but they are a rare breed.

That said, it is better to ask your agent to support the suggested list price. Alternatively you can also view listings in same categories from different listing agents and take a pick at comparable sales, pending sales and active sales before selecting a listing agent.

The best time for an offer is within the first 30 days on market. If the home is priced right, you'll get an offer within 30 days; this is the best way to know if your price is right.Most of Dream Equity’s clients get the first offer within 30 days. Overpriced house will not get any showings at all so you will reduce your price, leaving everyone wondering what's wrong with your house.

How Much Do Buyers And Sellers Pay In Closing Costs?

If you are a first time home buyer you might imagine sitting at a round table meeting where at the end of the escrow closing you will be handed the list of expenses required to close the deal. To tell you the truth people prefer to close deals virtually on phone or video conference. Still people do meet around table at closing.

However in today’s fiercely competitive world housing brokerage firms like Dream Equities go out of their way to provide their clients with all the information about home buying. So it is unlikely that a buyer will show up at a closing meeting without doing his homework.

Closing costs are the overhead costs other than the cost of the real estate. Both buyer and seller have to pay overhead costs however buyers have more costs but they pay less than sellers, Confused? It all right at the end of reading this post you won’t be.

Although both buyers and sellers have to pay closing costs, buyers have more line item expenses than sellers. The biggest factor contributing to closing costs is the home loan, since buyers take home loans they have to pay the charges stemming from loan.

The chances are experienced brokerage firms like Dream Equities will know the lender, so they will tell you to get the Good Faith Estimate (GFE) and a Truth-in-Lending statement from your lender. Some buyers even use Truth-in-Lending statement to shop for different lenders which is actually a pretty good idea.

Aside from the costs of getting a loan or buying a home, some expenses, such as property taxes or homeowners association dues, are pro-rated and paid at the time of closing.For example if you buy a house and you close at the end of the property tax period you will have to pay the balance of taxes upfront. Same goes for prepaid interest home loan.

The sellers though have fewer line items, pay the biggest cost of i.e. the real estate commission. Since it is the percentage of sale price it’s the biggest closing cost. The real estate commission is split by buyer’s broker and seller’s broker.

If you are a first time buyer, you should hire a broker like Dream Equities who are not just brokers but real estate experts. They will guide you properly. 

Real Estate Agent Commission - How It Works?

Real estate sale and/or purchase procedure in California is almost same as that of in any other states. There are two basic kinds of real estate agents those who work independently and those who work together forming a real estate agency. These are further divided into three types Buyer’s agent, Seller’s agent and real estate agencies like Dream Equities who work for both buyer and seller.

Almost 90% of the real estate buyers and sellers hire a real estate agent who charges a commission. How much is the commission? There are no specific rules, in other words real estate commission is negotiable. You can set the terms in your sales contract. The bigger and better real estate agencies like Dream Equities may charge you more than an individual agent but them also provide multiple services under one roof. That said, you should remember two most important points about commission

1.    Sales Deeds Include Commission

The rule of thumb is that commission should be included in the sales price. So if the sales price (also called purchase price) is $400,000 and a real estate agency like Dream Equities charges say 5% commission then the net proceedings (barring other closing costs) are $380,000.

Usually the seller pays for the commission however seller and buyer can decide to split the commission or a seller may ask the buyer to assume full amount.

2.    The Commission Is Paid Directly To Only Brokers

A rule of thumb applied all over US. A real estate agent must work under a real estate broker or a brokerage firm. Agents are not allowed to work independently; they have to work under a broker. A broker or brokerage firm will list you house for sales. Both buyer’s agent and seller’s agent work under their respective brokerages. Dream Equities is a real estate agency with experienced brokers on pay roll.

Brokers set the commission they charge for houses sold through their brokerage. Traditionally, the commission is 5-8 percent of the sales price, but again, that amount is negotiable.That said there is no rule on how a listing broker should split his commission with buyer’s broker. They can decide to split the commission 70-30 if they like it. Real estate agents will get their commission from respective brokers which may vary from 50% to 75%.

4 Common Mistakes Homebuyers Can Avoid

Buying a house is a very demanding process. Although you can hire various advisers like real estate agents, lawyers, attorneys and mortgage brokers you have to do a lot of work by yourself. Get the most out of your money with these home buying tips.

1.    Avoid Border Dispute

Even though you can check the land records in the county’s records department it is better to carry out a professional survey of the property you are buying. Dream Equities is one of the leading real estate firms in California who insists that it’s clients should get a survey done on the property, it’s the best way to know what you are buying. Knowing precisely where your property lines are may save you from a potential dispute with your neighbors. Also, your property tax is likely based on how much property you have, so it is best to have an accurate map drawn up. Further it will prove helpful when you go for resale.

2.    Timing Property Market is a Myth

The property market is cyclic, it goes up and then it goes down. Trying to anticipate housing market is simply impossible, even expert firms like Dream Equities face difficulties in doing so. So don’t obsess with trying to time the market, chances are you will lose precious time because there is no best time to buy a house.

3.    Sleeper Costs Can Slap Your Budget

Sleeper cost is the difference between renting and home ownership. Buying a property comes with baggage, you will need to pay property tax, car tax, parking tax, home owner association tax/fee, repairs and maintenance and utilities. New home buyers mostly think only about their mortgage payment, you need to plan a separate budget for sleeper costs. If you don’t, you will lose your house.

4.    Don’t Be Emotional

There is no such thing as a perfect house so stop looking for one. The truth is you can only try to get the best out of your budget so select the best property from your list that suits your budget. Dream Equities always advises its clients not to get emotionally involved in a property while buying it. You need to go with your instincts and not your emotions because only instincts can tell you if you are getting a great house for good value.    

The basics for foreigners buying real estate in California

California has attracted foreign real estate investors for years. Buying property in California is a status symbol for many foreigners. Buying a real estate in a different country can be daunting. While this post will help you get started it’s not a substitute for the expert advice of attorneys, real estate agents, mortgage brokers, tax advisers and lawyers.The two basic points which foreign buyers need to remember are -

Intended Use of Property

This is the most fundamental question. You need to decide how you will use the property once you have bought it. Go through different case scenarios like, will it be a long term residence?  Are you going to use it for while on a business trip? Are you going to move in with your family? Is it just a vacation home which you intend to rent? Or is it simply an investment?

Real estate agencies like dream equities deal in all types of commercial, residential properties and land development. Based on your primary use for your property your real estate agent will be able to shortlist the best property that serves your purpose in short time.

 Hire a Local Real Estate Agency

You can hire a single real estate agent who works independently or a group of agents who work together. Although they are professionals they have limited resources at their disposal. But real estate agency like dream equities has many experienced personnel on payroll with unlimited resources at their disposal. Bigger agencies can provide you multiple services like mortgage broker, legal adviser, insurance agent and housing survey agent under one roof at a flat price.

If you are not fluent in English, or prefer speaking in your native language, choose agents who are conversant in your native language. Although you can get translated copies of standard real estate documents, it is more likely that you will have to sign the English documents at the time of closing deal. Bigger agencies like dream equities usually have proficiently multilingual staff.

These two important points form the foundation of your real estate quest in California. You can talk to different real estate consultants to learn about the way California real estate market works. I strongly recommend to hire a licenced and experienced real estate agency like dream equities that is based in California itself. 

4 Important Tips on Buying a House in California

Though almost all states in US have somewhat same real estate buying procedure the state of California does few things differently. Buying a house in the golden state is easy but you need to know some things before purchasing a property.Dream Equities will be more than happy to help you.

Build a Solid Credit Profile

Most important tip is not to move your money six months prior to buying a home. If you move your money around it will be seen as a sign of bad credit profile. Also as long as possible do not amass huge credit card debt. If you are a foreigner or from other state you need to open a bank account or credit card account in California to start building a solid credit profile.

Preapproval for Your Home Loan

Getting pre qualified and pre approved for your home loan are two different things. Anyone can be pre-qualified for a home loan but getting pre-approved means that creditor has taken a thorough look at your credit profile and approved you for a loan amount. This makes it easier for you to get the idea of your budget.

In California getting pre-approved for your home loan is considered a vital point and any real estate agency like Dream Equities will not be ready to work with you unless you are pre-approved. 

Bigger is Not Better

Whenever some family engages Dream Equities as their buying agent the first thing we tell them is not to buy a big house even if it’s within your budget. The reason is largest house doesn’t appeal majority of buyers that puts you on disadvantage when you go for re-sale. Sometimes it’s best to buy the worst house on the block, because it usually trades for more than the big house.

Getting a Survey

We at Dream Equities always recommend our clients to get a survey on your property, this will surely cost you around $400or less maybe, but it will save thousands in the end. A housing survey can reveal many points that a common eye will miss. A professional housing survey agent will tell you the exact pros and cons of the property before you decide to pay the earnest money deposit. This will leverage your position as a buyer. 

How to Purchase Real Estate in California?

The process to purchase home is basically similar in all the states. There is one slight difference in California home purchase process. Unlike in other state you are required to open an escrow and attorneys do not complete the home purchase transaction. Opening of escrow is usually done by the seller’s agent but if not your agent will do it for you the moment you select a house.

To complete the sale and purchase of home in California you need to hire a licensed real estate agent like dream equities. There are two types of licenses issued in general, one is for sale person and other for broker also called as agent. The sales person will always work under the broker or agent.

The real estate companies like dream equities are a group of brokers who work together. Such companies are generally better equipped compared to independent brokers. There are mainly three types of agents, sellers’ agent, buyer’s agent and dual agent. 

The first thing you need to do is get a buyer’s agent even before you start headhunting houses. The next important step is to get a pre approval on your home loan. This is important because it shows your seriousness and the agents will treat you with attention. Some real estate agencies like dream equities offer in-house consultation on getting a mortgage broker and preparing your credit report.

Once you have finalized a house you will have to make purchase offers in consultation with your agent. In California it is mandatory to make the purchase offer in writing. If you are buying the house in hotspot, be prepared for multiple purchase orders.

Once your offer is accepted you will be required to deposit your earnest money cheque. Do not ever make your earnest money cheque in the name of seller. You will get your earnest money back if your offer doesn’t go through. Rest of the process is basically similar to other states.

Make sure that you hire a qualified and experienced agent like dream equities. Discuss your doubts and concerns with your agent. If your offer is rejected, ask your agent to explain why and do not repeat those mistakes again. A qualified and experienced agent will work with you until the title and records department informs you that title has been transferred in your name. Once tittle comes through the property is yours unless your contract says otherwise. It’s time to change the locks. 

Why People Love Buying Property in California…!

California fondly termed as The Golden State is the most favored state by millionaires. The state has been a backbone of US economy. The famous Silicon Valley and Hollywood have played a key role in economic development of the country. The sun-kissed sandy beaches of California attract millions of tourists from all over the world. That’s why the real estate market in California is always under the radar of veteran real estate investors.

California offers limitless real estate investment opportunities. Silicon Valley is widely hailed as the driving force behind the new high-tech economy. This region has a long history of economic and social development. The state boasts of excellent educational facilities, thriving businesses, sporting and recreational arenas, and cultural avenues - an attractive amalgam that holds something for everyone.Dream Equities is one of the leading real estate firms in southern California which exclusively deals in commercial and residential properties.

 California is one of the greenest states in country. A major tourist attraction; Yosemite National Park in Northern California is one of the United States' most scenic and famous national parks attracting thousands of tourists every year. There are many commercial properties like hotels, guest houses, clubs, sport clubs, beach condos, restaurants that will prove excellent real estate investment. Please visit Dream Equities to take a look at some of beautiful commercial properties.

Buying a beach front house in California is something you don’t want to miss. Many people from around the world have bought a vacation home in California. You could always rent your vacation home to others when you are not around and make some money on your investment. Dream Equity’s main office is located in New Port Beach which is the most popular vacation rentals area in the state. The beaches in California offer excellent surfing opportunities.

California real estate market is rapidly recovering from the real estate crisis in 2010. Last year witnessed almost 6% rise in real estate prices. The California real market is expected to continue the positive trends in 2016. The expert agents at Dream Equities are of the opinion that this is the right time to invest in California real estate market as mortgage rates are likely to go up in the coming months. Over the last few years people have bought properties to flip or to speculate on additional appreciation. So start looking for a property in California today.  

The Benefits of Hiring Real Estate Company to Sell Your House…..!

This is the age of do it yourself or DIY. Internet is flooded with many websites teaching you to do a variety of things on your own. Why should selling your house be any different, right?If that’s the case then why do we see 90% property transactions handled by professional real estate agents or companies? To be frank the reality is you need a certain skill set to effectively sell a property commercial or residential.

Many people refrain from hiring agents because they take a cut on your sell as their commission. But if you look at bigger picture you will realize that the commission is actually worth it. Dream equity is a subsidiary of Dream home estates which exclusively deals in selling commercial property in California. There are many companies like Dream Equity which offer certain advantages like –

1.  Aggressive marketing
Most of the companies or agents use aggressive marketing techniques to sell your property. They are well-versed with the art of real estate commodities. There aggressive marketing techniques involve online and offline marketing, talking to following potential leads etc. He will also upload appealing photographs of your property in his website and other media channels. You cannot handle all these tasks on your own.

2. Best value on sale
The real estate companies like Dream Equity have the latest knowledge of the property market. They can assess the right value of your property and guide you on the latest trends in the property market. A broker knows how to sell a house from the buyers point of view, something a seller rarely recons. It gives you advantage in selling your property.

3. Save time
If you decide to do it yourself you would probably be juggling between your work and showcasing property to potential buyers. A broker can ensure showcasing your property without disturbing your privacy. Secondly he will know how to showcase your property.

4. Avoid dreadful Paperwork 
Most sellers think that once the buyer has agreed to a deal the major part of the process is over. But they are wrong. The real work starts when a potential buyer agrees to buy a house. The paperwork for ownership transfer, title transfer, bank mortgage etc. is a dreadful task. A broker like Dream Equity is well equipped to handle all the paperwork.

That’s why you need to hire a broker to sell your property. Hire one and have a tension free property deal.  

Buying a Dream House With Dream Equities in California

If you have decided to buy your dream home in the California, the golden state, you have made the wisest decision of your life. You will have an experience of your life time if you settle in the southern Californian. California not only offers exquisite lifestyle but some of the excellent tourist attractions and stunning beaches.

There are few other things you need to consider before investing in dream home estates in California. Consider yourself lucky if you get a dream house with dream equity. But you can make smart decisions to land a house with dream equity.

The first thing you should do is make up your mind whether you want to buy a dream home as investment or for changing your life style. You may want to have both but then you will be headhunting for some of the primmest properties in California.

“Location, location, location” You must have heard this expression a thousand times before. Of course it is an important factor. There are two main areas either the southern California or central coastal California.

If you want to buy a property nearby a factory or company it will fetch good value in future. You might end up getting the benefit of dream equity. Another point to consider will be choosing a prime tourist area with stunning beaches or natural beauty like Arroyo Grande whose diversified coastal ecosystem includes forested areas, coastal prairies and even dunes or a place like Pismo Beach which is very popular.

Naturally you cannot do the whole house hunting thing on your own it’s exhausting. You will need a lot of first hand info like where can you get cheapest home loan, what are the prices of properties in different areas etc. At least hire a local real estate agency to do the primary research. This will ensure that you come to a firm decision within a limited time.

However agents may not tell you the whole story of a property so before buying a dream house talk to people in neighborhood see how they like it (or don’t like it) there? Listen to these people and list down your pros and cons as you do so.

Securing a good home loan is a difficult task; if you are a first time buyer then going with fixed mortgage is the best thing because their interest rates don’t change. It’s easier to plan your future with fixed monthly repayment plan.  However the final call is yours just make sure that you have tried every available option before taking final decision. If you want hassle free loans you can always ask your California real estate agency to suggest a good lender. Dream home estates will be happy to help you find your dream house with dream equity in California.