Five ways a home is valued

Shima 0 comments 26.02.2016

The other day my client asked me, “Shima, how much money can I get for my home?”

I told him that when a potential buyer is inspecting the value of a home, several factors come into play. Although the market has a huge impact whether a home will sell quick or slow, there are some indications that are always considered.

First and foremost, LOCATION!

One of the most influential factors a buyer will consider when deciding whether to purchase a home or investment is geographical location. You’ve heard it, seen it and even said it, “Location, Location, Location!” Proximity to attractions, transportation routes, schools, demographics, ocean views, fine dining and freeways are all advantages one may take into consideration when assessing the value of a home or business’ location.

Second, PRICE!

In 1950, Pepsi used the slang, “More bang for the buck” as an advertising method to describe the New Look policy on nuclear weapons. Today, the phrase is used to mean a greater worth for the money used.

We all love a great deal, especially in one of our greatest investments we will ever make. People want to know that they’re getting more than they imagined they could ever have and that happens when they feel like the home was a steal. Well, how does this occur?

When a home is strategically priced, people line up, wanting it before it’s gone. And the way to do that is to make sure it is priced to sell!

Third, knowing who is your COMPETITION.

When pricing your home, it’s vital to look at what is currently active, what is pending, what has a backup offer, and what has closed.  The active listings are who we are competing with. The pending sales are necessary to see how many days something has been on the market until it has gotten an offer. Closed Sales will test us exactly where our comps will come from- which is typically between the lowest and highest sales.

By understanding WHO the competition is, it is easier to focus on what you have to offer that the others don’t- and that is your power.

Fourth, the CONDITION of your home.

Again, a home or business is a huge investment one makes and the condition will either influence or scare some away. What may seem like a potential fixer to some, may seem frightening to others. So, the condition of a home will influence one’s decision in determining if they will get more bang for their buck!

 Last but not least, the CURRENT MARKET.

Current market conditions are gathered from interest rates, stock market, gasoline prices, election-year distractions, global events, and other things going on around us that we basically have no control over.  These factors plus seasonal things such as income tax time, holidays, add an unpredictable element to home sales.  However, over time, the trend is always upward! As my friend and business partner Tim Marshall says, “I have a saying that the best time to buy is now and the best time to sell is now, because in the long run the trend is always upward.”

As previously mentioned, we all love a great deal. To some, a deal may be getting furniture with the home, a free TV or fridge. To others, it’s simply getting more bang for their buck- which is really just getting something better for the same price.

So when deciding what to price your home, remember these determining factors that will ultimately influence a buyer’s decision. Remember, we’re all out to get the most bang for our buck!

Helping Give Every Baby a Healthy Start

Shima 0 comments 07.10.2015

Every Wednesday, I will share a resident of the South Bay contributing to making our community a better place.

Today’s #WCW title belongs to South Bay resident, Cindy Perez who is a member of the March of Dimes’ committee where she raises money to improve the health of babies by preventing birth defects, premature birth and infant mortality.

Cindy, 27, is a South Bay native who is currently working in the medical field while also finishing up school.  When she is not juggling school and work, she is a member of the March of Dimes committee (Orange County Chapter).

Despite her demanding hours with school, Cindy dedicates time to pay it forward by raising money as well as prepare and contribute in organizing the March of Dimes yearly 5k walk/run. Cindy raises money by educating and bringing awareness to others about March of Dimes.

Cindy was inspired to pursue March of Dimes when a friend of the family’s son died a few weeks after birth. Cindy’s aunt and she decided they wanted to do something to support their friend, and soon grew to love the organization and after a few years of attending and raising money for the March of Dimes, they decided to join the committee.

With the help of social media, Cindy has been able to bring awareness to others about March of Dimes.  In addition, she posts flyers at work, gym, school etc. Prior to the first year Cindy joined March of Dimes, she was not aware of how many newborns are born prematurely or with birth defects.  She hopes that with each passing year, she can bring more awareness to others.

Cindy would like people to know that March of Dimes is a nonprofit organization that helps improve the health of newborn babies. Every year, March of Dimes helps the premature rate drop, give support to the families of the newborns, and invest in the research toward lowing birth effect and death rate. For more detailed information, one may visit their website here.

In addition to bringing awareness to March of Dimes, Cindy contributes to society by participating in other 5ks and attempting to raise money for whatever causes that may be. Just recently in the month of September, she participated in the Los Angeles Dodgers foundation 5K where money was raised for children to in Los Angeles to be able to have special programs within their school. Just last week, she started a toy drive where she collected over 200 items to donate to the Children’s Hospital of Los Angeles.

Cindy believes every person is different and has a passion for something different from the next person, so she encourages others to find something they are passionate about and research what ways they can help in that area.

Cindy explains, “My soft spot is helping children which is why it is so easy for me to willingly dedicate time to March of Dimes.”

Beyond the Horizon

Shima 0 comments 27.04.2015

Growing up, I spent countless days with a pen and paper in hand. I found writing to be very therapeutic for me. I would write poetry, novels, letters, and stories.

I decided to pursue Journalism in college and upon graduating, I was fortunate to find an internship with a prestigious real estate magazine. I spent the summer working with the magazine, writing on behalf of top producing agents, and the market. I found the material interesting, but soon realized I may have studied the wrong major.

I told the editor of the magazine that although I appreciated my time with the magazine, I couldn’t accept the offer of pursuing a full-time position with the company. Most Journalism graduates would have killed for the position, but something didn’t feel right.

I needed more. I had a yearning desire to help others all my life and didn’t see it possible behind a desk. So, I took a risk and left a promising job to pursue real estate.

I realized that what you think you want isn’t always right for you and in order to succeed, you have to take chances.

Real estate is very much the same way. You may think you know exactly what your dream home is and what you want, until you see something else. Sometimes, the things we want aren’t necessarily the things we need and there are things far more suitable for us.

I advise clients to be open-minded in pursuit of a new home. Do not limit your chances of finding the perfect home for you by discriminating or prejudging a home.

My goal is to assist clients in finding their Dream homes by giving them plenty of options of not only what they believe they want, but seeing beyond the horizon so they can find something that is not only perfect,

but perfect for them.

By willing to consider new ideas, you never know what you’ll find.

“The horizon is only the limit of our sight.”