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15 Crucial Questions to Ask a Realtor When Selling Your Home Amid and After COVID-19

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by First Team Real Estate | Jun 10, 2020 | Selling | 0 comments15 Crucial Questions to Ask a Realtor When Selling Your Home Amid and After COVID-19

Before you hire your next real estate agent to sell your home, asking the right questions is critical. The real estate market is constantly changing, even faster since the coronavirus outbreak. So if you are going to get top dollar for your home, you need a professional who is ready to tackle these tough questions to ask a Realtor and provide some quality answers.

An agent should be able to answer these 15 questions if they have a winning strategy to sell your home amid and after COVID-19. Because as the market continues to rebound, there is a whole new set of rules at play.

1. What is your plan for hosting virtual open houses?

Your agent needs to have a good grasp of digital marketing, especially since coronavirus has forced buyers to do the majority of their home search online. And virtual open houses are one of the biggest changes to the home sale process since COVID hit. In-person open houses currently cannot be held, so savvy agents have been hosting virtual open houses via Zoom, Facebook, and Instagram Live to allow large groups of interested buyers to view your home at once with minimal interruption to you and your life.

2. How will you publicize virtual open houses for my property?

Given the full planning, strategy, and execution of an in-person open house, a good virtual open house should have all of the same elements including a theme and giveaway to attract maximum participation, full marketing collateral, social media shares, eBlast, and more.

3. What kind of website and social media exposure will you provide?

Social media and online exposure are crucial to marketing your home in today’s market with so many buyers preferring to stay online for the bulk of their home search. Your agent should be active on social media and ready to roll out social shares for your property as soon as it goes live. And with the proper marketing, videos, and other marketing materials some homebuyers have been purchasing sight unseen amid COVID-19.

4. How many sites will my listing be syndicated to?

The answer from your listing real estate agent should include hundreds of syndication sites. When an agent places your listing on the MLS, it automatically gets syndicated to a couple of different online channels. But your property deserves an extended reach – and it’s possible to get just that if you work with an agent who has a robust network of syndication sites and a plan.

5. Do you have a comprehensive, step-by-step marketing plan for selling my property?

This should be a simple question – of course your agent should have a plan! Personally, our marketing plan at First Team begins with setting the perfect price for your home using intelligent pricing and your neighborhood’s home trend values and then moves onto exhausting all marketing exposure opportunities including matching your home up with thousands of active buyers we’re already working with at our company. With over 2,400 local agents across in Southern California, we know a lot of active house hunters!

6. Can you show me examples of the photography and marketing you provide?

Professional photography builds buyer emotion, minimizes your days on market, and maximizes your home’s price. Our preferred vendor for high-quality photography at First Team is PreviewFirst.  They produce beautiful photography AND videos to get buyers emotionally interested and invested in your home. Speaking of which…

7. Will you market my home through video so that buyers can tour it virtually?

In the wake of the coronavirus, photography isn’t enough. You need to allow all buyers, no matter their comfort level, the ability to view your home. That’s why creating a video to showcase your property in the best light possible is key. Check out some videos from our PreviewFirst partners here, including 3D tours as well.

8. What specific tactical steps will you take to ensure that I am pricing my home correctly?

It’s important that you are methodical and data-driven when it comes to pricing your home. And your agent should be the one with a strategy for how to do just that. Research comparable homes in your neighborhood that have sold with a CMA (Comparative Market Analysis), current market trends, and analyze each element to find the right price. At First Team, we use our Market Trends℠ tool to analyze your neighborhood’s home trend values to make sure we price your home properly so that it immediately gets the buyer’s attention it needs. Your price is a huge part of your home’s first impression!

9. Many agents are hard to reach. What is your availability and response time to answer a question or request?

If you like to text, make sure your agent does too. If you want a weekly check-in over the phone, let it be known. Remember, when it comes to selling your home, YOU should be the one calling the shots. Make sure your agent knows how you prefer to communicate and set expectations for response time. Even the busiest real estate agents should be able to commit to no more than a 24-hour turnaround time for texts, calls, and emails. Today’s market is changing even faster than usual, so you and your agent need to be perfectly in sync on quick decisions – especially during negotiations!

10. What should I do to get my house ready?

When hiring a Realtor to sell your home, preparations are a crucial topic to discuss. What budget-friendly updates will help attract more buyers? How can staging help your home sell for more money? Your agent may even suggest bigger remodeling projects that can help your home capture significantly more money based on other homes with similar amenities and updates in the neighborhood. Be open to ideas, make sure you choose preparations to fit your budget and translate into ROI, and consider taking advantage of programs like our First Impressions Concierge. Though our First Impressions Concierge, we pay upfront for the updates your home needs to sell for top dollar, and you don’t pay a dime until your home sale closes.

11. What happens if the appraisal comes in low?

This question has a lot of possible answers, and it’s important that your agent can speak about them all so that your home sale doesn’t hit a fatal snag. To decrease the odds of a low appraisal, an agent can play an active role by meeting appraisers at your home and sharing comparables and information about the home that the appraiser might not have. If a low appraisal still comes in, you can ask the buyer to make up the difference in cash, put together a second mortgage to cover the difference, lower your price and negotiate concessions in other aspects of the transaction like closing costs, and more. It’s important to know that you have options.

12. How will new mortgage rules affect me?

A true real estate expert has knowledge about every aspect of the transaction – including mortgage rules. There is a very good chance that the buyer of your home will need to secure a mortgage, and issues with that mortgage process can slow down your home sale. So make sure the real estate agent you choose to sell your home has strategies for overcoming these challenges in a sale, with a trusted lender to provide additional advice and insight. And if you will be selling your home and purchasing another, you will need help with your own new mortgage as well!

13. What will be your ongoing consultation role through completion of the sale – “until the check clears?”

A great real estate agent isn’t just there to help with one home sale, they are a guide and advisor for your financial future. Finding an agent who is a real estate planner, helping map out your goals and tying it to a strategy for success is what you deserve, and what you should be looking for in an agent. Remember, you’re building a lifelong relationship with an expert you can turn to whenever you need advice. And if you haven’t found that, then you haven’t found the right agent yet.

14. What happens if we get two or more offers at a time?

In today’s market with extremely limited inventory, it is very possible you will receive multiple offers on your home if you price it properly. So make sure you have an agreed-upon plan for how to review offers together. Set up a video call, review the fine points together, and make sure your agent knows what is most important to you. For some it’s the highest possible offer, for others it’s a quick sale, and for others, it’s finding a buyer who will love and cherish your home as much as you did. Whatever your top priorities, review them with your agent BEFORE the offers start rolling in.

15. What can you tell me about your past customers regarding the results and reputation of your services?

Check their references! Treat this process just as you would any job interview so that you find the right person. Always approach online reviews with a grain of salt, but don’t forget to read them – and review them thoroughly.

These questions to ask a Realtor when selling your home amid and after COVID-19 are all geared toward assessing their preparedness. Because without proper planning and strategy, you can’t succeed in any market.

ORANGE COUNTY MARKET TRENDS 5/23/2020

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Limited Inventory, Demand continues gaining momentum, Interest rates at a History Low, Plus incentives such as down-payment assistance programs for buyer are offering great opportunities to those looking to buy and sell! . . .
If you are paying more than $2,500 in rent, you can afford a mortgage. Send me a message and let’s have a conversation on how to take advantage of the opportunities now available…

by Marlon Gamez REALTOR®  |  Lic# 0‌2076704 (714) 650-0567 marlongamez@firstteam.com marlongamez.firstteam.com

U.S. Foreclosure Activity Hits Historic Lows Amid Coronavirus Pandemic

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There were 14,148 U.S. properties with foreclosure filings in April 2020, down 70 percent from March 2020 and down 75 percent from a year ago. Nationally, one in every 9,639 U.S. properties received a foreclosure filing during the month of April.

Not surprisingly, due to recent federal legislation ordering a two-month moratorium on foreclosures by lenders holding federally backed mortgages, this is the lowest number of foreclosure filings ATTOM has ever recorded nationwide since it began tracking the data in April 2005.

“Foreclosure cases dropped dramatically last month following the foreclosure moratorium imposed on lenders holding federally backed mortgages,” said Todd Teta, chief product officer with ATTOM Data Solutions. “It’s hard to know how much this reflects the virus pandemic because the data doesn’t say whether these were cases caused by very recent job losses or were already filed before that. What can be said is that the drop-off will almost certainly be temporary. And when it’s lifted, we should be able to more clearly measure how deeply the pandemic fallout is affecting homeowners. ATTOM is monitoring this closely with monthly, quarterly and annual updates.”

Foreclosure starts drop below ten thousand nationwide

Lenders started the foreclosure process for the first time on 8,552 property owners in April 2020, down 69 percent from the previous month and down 72 percent from a year ago.

States that saw the sharp declines year-over-year in foreclosure starts, included Georgia (down 85 percent); North Carolina (down 84 percent); Florida (down 83 percent); Michigan (down 82 percent); and Colorado (down 81 percent).

In a more granular look that runs counter to the national trend, there were some counties that experienced an increase in foreclosure starts in April 2020. Those counties with an annual increase, included Marin County, California (up 76 percent); Monterey County, California (up 42 percent); Mesa County, Colorado (up 40 percent); Solano County, California (up 36 percent); and Hillsborough County, Florida (up 18 percent).

Delaware, Maryland, and Illinois post worst foreclosure rates

States with the worst foreclosure rates in April 2020 were Delaware (one in every 2,745 housing units); Maryland (one in every 3,809 housing units); Illinois (one in every 5,353 housing units); Connecticut (one in every 5,519 housing units); and Florida (one in every 6,171 housing units).

Among 220 metropolitan statistical areas with at least 200,000 people, those with the worst foreclosure rates in April were not your usual metro areas. In fact, California metro areas made up 3 of the top 5 metro areas. With Vallejo-Fairfield, California (one in every 1,105 housing units); Peoria, Illinois (one in every 1,173 housing units); Reading, Pennsylvania (one in every 1,813 housing units); Santa Rosa, California (one in every 2,016 housing units); and Salinas, California (one in every 2,434 housing units);

Among 53 metro areas with at least 1 million people, those with the highest foreclosure rates in April were Tampa, Florida (one in every 2,818 housing units); Baltimore, Maryland (one in every 3,025 housing units); New Orleans, Louisiana (one in every 3,457 housing units); San Antonio, Texas (one in every 3,519 housing units); and Louisville, Kentucky (one in every 3,746 housing units).

Bank repossessions drop 76 percent from last year

Lenders repossessed 2,641 U.S. properties in April 2020 (REO), down 71 percent from the previous month and down 76 percent from a year ago, to the lowest levels ever.

States that saw the greatest actual number of completed foreclosures but are still down from last year, included Florida (387 REOs, but down 72 percent from last year); Illinois (255 REOs, but down 65 percent from last year); California (199 REOs, but down 72 percent from last year); Georgia (194 REOs, but down 48 percent from last year); and Texas (190 REOs, but down 75 percent from last year).

Those metropolitan areas with a population greater than 1 million that saw an annual decrease included Los Angeles, California (down 80 percent); Chicago, Illinois (down 67 percent); New York, New York (down 77 percent); Tampa, Florida (down 71 percent); and Philadelphia, Pennsylvania (down 94 percent).

Non-Institutional Lender Definition & Website to check status Inbox

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Definition: A Non-Institutional Lender, sometimes referred to as a “hard money” lender (“NIL”) is defined as: ANY party acting as a lender, except (a) any bank, savings and loan association, savings institution, credit union, trust company or national banking association, acting for its own account or in a fiduciary capacity, (b) any insurance company, pension and/or annuity company, (c) any government, public employees’ pension or retirement system or any other government agency supervising the investment of public funds, or (d) a seller acting as lender (sometimes referred to as a “carryback lender”). The criteria for an institutional lender is as follows; If a lender holds a CFL or CRMLA license, it is “institutional”. If anything other than the 2, they are considered NIL. It is best to check the lender’s name on the California Department of Business Oversight’s website https://dbo.ca.gov as a first step to check licensing status.

Lecciones de baile por internet para niños durante la cuarentena

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El programa es una serie web interactiva de 10 lecciones de baile sin la necesidad de un compañero

El baile es una de las actividades más sociales que existen, pero en esta época de distanciamiento por el Covid-19, una organización de Los Ángeles ha preparado unas lecciones de baile en línea para niños y jóvenes que se pueden realizar sin necesidad de tener una pareja.

Conga Kids, una organización sin fines de lucro que fomenta el bienestar social y emocional a través del baile en pareja en las escuelas del Condado de Los Ángeles, ha modificado su programa para apoyar a los estudiantes que tienen que quedarse en casa. 

Durante el resto del año escolar, Conga Kids impartirá el programa Social Dance for Social Distancing (“Baile Social para el Distanciamiento Social”), lecciones en línea que no sólo serán para los 10,000 estudiantes de quinto y sexto grado en más de 100 escuelas en 12 distritos escolares en todo el Condado de L.A., sino también para los jóvenes de todo el país.

“Respondimos rápidamente a la crisis del Covid-19 creando contenido ‘dentro de casa’, literalmente en las salas y los patios traseros de nuestros artistas docentes, para difundirlo en los distritos escolares y así llegar a una población más amplia de niños, padres y educadores”, expresó Brad Gluckstein, Fundador y Presidente de Conga Kids. 

Como su enfoque principal, Conga Kids enseña cinco bailes de pareja: Salsa, Merengue, Swing, Tango y Foxtrot como parte del currículo escolar. Este nuevo programa es una serie web interactiva de 10 lecciones de baile sin la necesidad de un compañero de baile. El plan de estudios en línea será modificado para incluir ritmos africanos, Hip Hop, Cha Cha Cha y otros bailes divertidos y activos. Las lecciones incluirán datos históricos, así como músicos y actuaciones en vivo.

Disponible a partir del martes 21 de abril para los estudiantes actuales de Conga Kids, las lecciones en línea de 40 minutos incluirán diversos tutoriales de baile de gran energía, actividades basadas culturalmente y emocionalmente en las artes, lecciones breves sobre historia, geografía, música y más. Para proporcionar igualdad de acceso en el sur de California y en todo el país a quienes no han participado antes en el programa, Conga Kids presentará contenido gratis en su página de YouTube durante todo el mes de mayo.

Viendo hacia el próximo año escolar 2020-2021, Conga Kids también desarrollará e implementará un plan de estudios alternativo de baile «sin contacto» y ya cuenta con el compromiso de muchos distritos escolares. A través de técnicas progresivas, Conga Kids transformará la magia de su programa de baile en pareja en un formato nuevo y emocionante, mientras proporcionará acceso equitativo al arte del baile. EC

Para más información, visite www.congakids.org

Your Guide to a 100% Home Virtual Sale!

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Yes, it’s possible to sell your home safely right now, 100% virtually. 1 in 4 home purchases was done sight unseen in April because buyers are still looking and are comfortable buying if you’ve got the right technology and smart marketing available. If you are ready to sell today, I can help. Message me if you have any questions on how to get started!

Comidas gratis para niños que no van a clases por el COVID-19

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Varios sitios en California ofrecen comidas gratis debido al cierre de escuelas, para que los estudiantes tengan acceso a alimentos nutritivos

Un gran número de familias en California dependen de las escuelas a las que asisten sus hijos para que estos reciban al menos un alimento completo, pero con las escuelas cerradas a causa del coronavirus, este beneficio también ha sido suspendido.

Afortunadamente, hay sitios escolares con comidas gratuitas para niños en todo el estado. El Consejo de Productos Lácteos de California, en colaboración con la Junta de Procesadores de Leche de California y el Senador Estatal de California Dr. Richard Pan, creó un sitio web donde las familias pueden encontrar una lista de lugares con comidas gratuitas disponibles, proporcionadas a través del servicio de comidas escolares.

“Durante estos tiempos difíciles, millones de niños y sus familias que viven en comunidades de California necesitarán apoyo y acceso a alimentos nutritivos”, comentó Shannan Young, Directora del Programa de Acceso a Alimentos de Dairy Council of California. 

Vea aquí un video sobre la campaña

La página informativa Sitios de Comidas Escolares que Ofrecen Comidas Gratis para Niños en Todo California, está destinada a servir como un recurso de referencia para encontrar ubicaciones actualizadas de servicios de alimentos en todo California. Considerado un servicio esencial, los servicios de nutrición escolar permanecerán abiertos incluso con órdenes de no salir y permanecer en casa.

“Los niños son el corazón de las familias y nuestra población más vulnerable”, dijo Steve James, Director Ejecutivo de la Junta de Procesadores de Leche de California. “Al transmitir la información sobre la disponibilidad de comidas escolares gratuitas y nutritivas en todo California, podemos mitigar la incertidumbre que las familias pueden sentir y ayudar a garantizar que ningún niño se quede sin ser alimentado”.

“Asegurar que todos los niños tengan acceso a comida es una alta prioridad”, expresó el Dr. Richard Pan, Senador del Estado representando el área de Sacramento. “Ningún niño debe de irse a dormir con hambre. A través de la colaboración con socios comprometidos con mejorar la salud de los niños y las comunidades de California, podemos trabajar para dar a los niños acceso a alimentos nutritivos durante este tiempo desafiante”. EC

ver articulo original aqui.

What If I Need to Sell My Home Now? What Can I Do?

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What If I Need to Sell My Home Now? What Can I Do?

Every day that passes, people have a need to buy and sell homes. That doesn’t stop during the current pandemic. If you’ve had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn’t on your side, making a move is still possible. Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).

You may have a new baby, a new employment situation, a parent who moved in with you, you just built a home that’s finally ready to move into, or some other major part of your life that has changed in recent weeks. Buyers have those needs too, so rest assured that someone is likely looking for a home just like yours.

According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest. That said, 10% of agents said in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home.

Here’s the other thing – people are spending a lot of time on the Internet right now, given the stay-at-home orders implemented across the country. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers too. Homes are being sold in many markets.

There Is Less Competition Right Now

The same survey indicates that 56% of NAR members said sellers are removing their homes from the market right now. This can definitely work in your favor. If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer’s search list and being seen. Keep in mind, listings will pick up again soon, as 57% of the respondents note that sellers are only planning to delay the process by a couple of months. If you need to sell right now, don’t wait for the competition to get back into the market again.

This year, delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.

Your Trusted Real Estate Advisor Can Help

Real estate agents are working hard every single day under untraditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans. We’re using virtual tours to show homes currently on the market, staying connected with the buyers and sellers through video chats, and leveraging resources to complete transactions electronically. We’re making sure the families we support remain safe and can keep their real estate needs on track, especially as life is changing so rapidly.

Bottom Line

Homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in your local market, contact a local real estate professional to create a safe and effective plan that works for you and your family.

Avoiding Foreclosure Rescue Fraud

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During times of distress, homeowners should be aware of a common fraud known as “foreclosure rescue fraud.”

In this scheme, someone may offer false promises of being able to save your home from foreclosure or guarantee a loan modification with a reduced mortgage payment. Common elements of this fraud include the fraudster:

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  • Requiring you to sign the title to your home to them.
  • Asking you to sign unfamiliar documents and/or share your personal information.
  • Charging you rent to stay in your home and /or potentially promising you that you can purchase your home back when your financial situation improves.

Loan modification scams may operate similarly as fraudsters collect an upfront fee and promise to work with your loan servicer to obtain a modification with a reduced payment on your behalf.

If you have been contacted by someone other than your loan servicer (the company listed on your mortgage statement) who is offering to provide mortgage assistance, do not provide your information.

To help avoid fraud:

  • Spot imposters. Scammers can make any name or number appear from anywhere in the world either via phone or internet. 
  • Be suspicious. If someone has contacted you asking for personal or sensitive information, do your homework to verify the validity of the request by researching the person or the company.

If you have been contacted by someone claiming to represent Freddie Mac, report it here. Freddie Mac will never reach out to offer a refinancing opportunity or new loan over the phone. 

If Freddie Mac owns your mortgage and you are a homeowner that has been affected directly or indirectly by COVID-19, mortgage relief options are available.