Really, we Have to Go HOW High?

Really, we Have to Go HOW High?

Okay, so I am in the process of submitting an offer for a fabulous family.  They found the house they have always wanted at a decent price.  Sure, it needs some fixing up, but the issue is the price.  The offer we were to submit, that is before I spoke with the other agent, was $33,000 over asking... you would think, right!

But in speaking with the listing agent, he said he already has five, yes five offers over what we were thinking of coming in with.  We would have to be nearly $70,000 over asking to be the top contender. Really, we have to go HOW high?

So for those of you doubting that the bidding wars are back, I would say, "The bidding wars are back with a vengance!"  It seems to be way worse this time around.  Maybe because of the lower interest rates, maybe because some people jumped on this housing band wagon way too late and still want in.  Who knows.

All I can tell you is, if you are thinking of buying right now, be prepared to go really high.  And if you are thinking of selling, what's the wait - get in on this action before it goes away!

If you are thinking of selling, or buying for that matter, please always contact a local expert for the area so they know how to advise you.  All real estate is local down to the neighborhood still and so you need someone who knows what's what.  I stay on top of the cities I serve in the SoCal 210 Corridor as you can see and will be more than happy to help you with your real estate needs whether that be to answer any question you may have or give you a free home evaluation. And ALWAYS go with a Realtor you can trust!

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana - wherever the need arises.

Warmest Regards,
Linda K. Mayer, Realtor, SRES
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
LindaKMayer@live.com 
Linda's Website (Home Search
Reliable Senior Help

Reverse For Purchase - What A Concept!

Reverse For Purchase - What A Concept!

Okay, so we all know seniors (age 62 or over) who want or need to sell their current home. An aunt, an uncle, a grandparent or parent. Maybe they have a two-story and can no longer handle the stairs, maybe they want to be closer to their kids or grandkids, maybe their house is way too big, maybe they want to be with other active seniors... many, many reasons this could be happening.

But since they happen to be a senior, they are on a fixed income (usually) or have other factors that would not make them a good candidate for a new home loan, plus they are just not sure about the new payments.

I have GOOD NEWS for both the seniors and their Realtors! The "Reverse for Purchase" can come into play!  Here's how it works...

Step One: Mr. and Mrs. Stiles meet with their Realtor and place their home on the market. Step Two: Mr. and Mrs. Stiles start looking for a new home to purchase that will fit their needs.  Step Three: The Realtor introduces Mr. and Mrs. Stiles to a Reverse Mortgage Consultant who explains the process to them.  (Yes, I happen to know a couple of fantastic people who have done reverse for more than ten years each!) Step Four: Their home sells for $300,000!

Here's how it looks on paper:

New Purchase Price                   $400,000

Reverse Amount                       $230,000

Cash Needed to Close                $170,000

The cash can come from the proceeds of the sale of their previous home or other sources and the rest can go into their own pocket.  And because of the Reverse Mortgage on the new home, they will never have a payment* until they can no longer live permanently in the home.

And the best part is, they can use the extra money for anything they want; possibly a dream vacation, pay off their other bills, etc.  How freeing is that!  What I always say about my mother who was a teacher for more than 35 years is that she worked hard - so why should this time be more difficult for her?  She deserves everything and MORE!

Great, FANTASTIC deal... and everybody's happy!

So, if you know of anyone who fits this criteria, please don't hesitate to call me for further information!

*House must be kept up to FHA standards and all taxes and insurance must be kept up to date.

 

Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager  
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
Linda's Website