One of the most important, in fact, the most important and quite likely the largest purchase that you will make in your lifetime will quite likely be your home. Whether you are considering Santa Monica real estate or real estate in some other part of the country, the purchase is not a small one.

An important part of the Santa Monica real estate purchase system that many home owners forgo and should not. The importance of home inspection simply can not be overstated whether you are buying a house, or you are offering one for sale to a buyer, a home inspection is a solid idea and a good part of a sale. The buyer and seller will both benefit from the home inspection.

When you are hiring a home inspector, there are some specific questions that you should be prepared to ask them in order to ensure that you get a quality home inspection.

First, you will want to know how much the home inspection will cost. The answer to that will be, dependent upon where you live, a home inspection may cost as low as $200, though depending on how large your property is and the type of home and/or condo/townhome it can increase in price and typically ranges between $275 – $600 in LA.

The job of the home inspector is to assess every aspect of the house to look for any problems that may exist in it. Question them about the things they will look at when they do the home inspection and make it a point to ask questions about the heating and air conditioning, as well as the electrical system of the house you are considering.

The home inspector should… when doing a thorough examination… review the piping and plumbing, he or she will look into the home ventilation system, as well as the furnace and air conditioning. This further defines the importance of home inspection. These are costly components of the house. Further, the home inspection will assess the electrical system of the house to ensure that there are no problems with the home wiring system. You need to remind yourself that in most cases a general inspector is not a roofer or plumber, so further investigation may be needed.

Your home inspector will evaluate everything from the moisture of the house down to the garbage disposal and nearly everything in between, so that there are no secrets or surprises for either the home seller or the home buyer. Moreover, your home inspection will be able to estimate for you approximately how long your house will be able to stand up without any major outlay on your part.

Dave Ockun, REALTOR® with Keller Williams Westside suggests to Buyers to have their Real Estate Agent provide CAR form BIE, which is for Buyer Inspection Elections. On this form, buyers will find a checklist with many potential inspection types. It’s not a bad idea for a buyer to ask their General Inspector if they have any recommendations of additional inspectors. Talk it over with them, and use this checklist to let your agent know what other inspections you may want to have on the property. And one important rule of thumb… If you are feeling an inspection is important, don’t wait until after you purchase a property! Do it before contingencies are removed. Also, don’t hesitate to ask questions and have your agent ask questions on your behalf.

A home inspection service can offer you a reprieve by helping you to see all of the physical faults of the house that you are considering for purchase. You will receive a full written report from the home inspector which you may then share with your Santa Monica real estate agent. Based on the findings you may then decide whether or not to submit a request for repairs to the house, a credit on the repairs, or to simply bear the cost of the repairs yourself.

This is a big purchase! It is something you will quite likely live with–an in–for years to come. Ensuring that you get what you are paying for is an important part of the process. Your home inspection can help you to accomplish that.

Good Luck!

Santa Monica Homes and Condos for Sale

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Parenting Tips New Parents Need to Know

There is no doubt that everyone wants to have a child who is healthy and smart. But what you might not know is that there are particular items you need to keep in mind to help your children reach their maximum potential. In fact, there are some items you might not even be aware of.

The best place to begin this process is by focusing on giving them quality time in a large quantity. What you will find is that there are plenty of ways you can spend time with your kids and work on having conversations with meaning in them. This will help to encourage future communication between you and your child in the future.

In fact, there are many homes that there is no communication happening between parents and children. By the time those children become teens, the parents have realized that the missed their chances to speak with their child. Avoid becoming this type of parent and spend more than 15 minutes each week having an in depth conversation with your child.

Another great ideal will be to help them develop and practice some healthy habits. For example, you should teach them a lesson and then have them act on it as well. This can be something like charity work. After you discuss the idea, have them help out in a nursing home or do some charity work where they can understand the value and the feeling it gives.

It will also be vital that you take the time to reflect the image that you children need to behave life. If they hear you tell a lie, they will assume it is okay to do the same. Children will reflect your actions and this will make it essential for you to practice what you preach.

Something else you will find is essential is that you are involved in your parenting as well. You watch what your kids are taking in from the media as well as their schools. No one is going to give your child better guidance than you and it will be essential for you to take the time to provide them with guidance for success.

Your relationships will play a part in the raising of your child as well. You should try to have successful and health relationships in both your marriage and external family life as well. A health family is one that will help to reduce the risk of some behavioral problems in your children.

This of course doesn’t mean that all is lost in a divorce. Raising a child can be hard, but if you focus on the child and continue to work together to help them succeed, there is a good chance that you will be able to raise a healthy and happy child.

Above all, make sure you are active in the community as well. This means you should look for other avenues of support and work with other parents to learn new parenting tips that can work. The only way you can truly fail is by not trying to take an active approach in the life of your child. Do your best and try to steer them in the right direction.

Adding a Jacuzzi / Spa Bath

However, there are several things that homeowners are able to do in order to make their bathrooms like nice, elegant, and ready to sell. The first idea is to add a Jacuzzi or Spa Bath to your bathroom. Adding a Jacuzzi to your bathroom entails a greater amount of detail than you would have though, which actually takes care of most of the decisions about remodeling the bathroom in the first place. In order to actually add a Jacuzzi to your bathroom then you’ll need to make sure the space is big enough. Many people find that they have too small of a bathroom anyway and this leads them to increase the dimensions of their bathroom. Along with adding a Jacuzzi to your bathroom, though, you may decide to go ahead and take on remodeling the bathroom floors, too. Instead of having regular tiles on the bathroom floor many people decide to add some type of laminate flooring.

Simple Bathroom Fixes

Even though adding a Jacuzzi to your home seems the most ideal thing to do, it may actually not be the most cost effective. On the other hand, there are some basic small remodeling ideas that you can take into account in order to change the bathroom. For starters, adding an automatic towel heater is a good idea. Adding something useful like this will naturally increase the value of your home, but it’s something that won’t take all that much extra money to do.

Another small project that you can accomplish, possibly even by yourself, is the addition of bathroom cabinets. This is a great remodeling project to do for the bathroom because it adds extra storage that virtually everyone needs for their home, especially the bathroom. Strong and sturdy cabinets that are actually built like they are recessed into the wall add a great deal of luxury, especially when they are finished cabinets made out of sturdy materials.

A couple other small yet effective ways to remodel the bathroom includes replacing the toilet and adding an entertainment center to the bathroom. Even though the entertainment center idea may not be too familiar, many people actually do decide to add television sets on the wall. If you are a homeowner then these are some great ways to get involved with remodeling the whole bathroom. By making sure that important designs are kept to a minimum and money is saved, homeowners will definitely be able to have great bathrooms for their home!

During this time, you are building up your interest in the real estate property. In fact, many sellers are looking to do this, but some will require a deposit be applied. While you are paying your monthly payments, you continue to work until you own the property. This rent to own option allows you to reduce how much money you have to invest in a property up front and will give you the chance to save money on monthly payments if you choose to buy the home with a quick loan.

This approach is typically the best option you have when you are getting into the housing market or need to move quickly for a job. In fact, if the only thing that is holding you back from buying the home is your credit, then this will certainly be one option that you will want to consider. When you take into consideration the percentage of the rent money that is applied to the actual home, you will find that the principal cost of the home will drop as well. This will allow you to get the home paid off faster. Then when your credit has been fixed, you can apply for a loan that will allow you to own your home in full. Plus, you get the benefit of living in the home you are renting to own, which is an additional benefit.

There is a drawback to this process for some people and that deals with the amount of money that you eventually pay for it. For example, if you consider a home that has a $350,000 value, you are going to pay close to about $370,000 for it. However, you should consider that interest over that same period of time could have ended up being far more than that.

This is just one of the ways you can buy a home and it is certainly one that you will want to consider. It offers you an absolute Win scenario and in no time you have the possibility of having a home when you never dreamed it was possible. This is all done on minimal money and bad credit isn’t a factor either. Best of all, the Seller gets the benefit of having a fair selling for their home. What you will find is that this isn’t always a possibility when the market can have a series of ups and downs attached to it.

A majority of buyers will use a real estate agent to locate and make offers on real estate. I am sure this is hardly a shocking revelation to you. Given this fact, many FSBO sellers make the mistake of treating real estate agents rudely. If you receive a call from an agent, you need to realize the person offering their services may be the same person that calls a week later with an interested buyer. If you burn bridges by being rude or hanging up on real estate agents, you run the risk of missing out on potential buyers.

Even if a real estate agent does not bring a buyer, they can still be of assistance to a FSBO seller. Put bluntly, the real estate agents contacting you expect you to eventually give up trying to sell your property on your own. Although incorrect, this assumption leads them to view you as a potential client down the road. The negative aspect of this is they will continually contact you. Ah, but there is a positive aspect as well.

A real estate agent that sniffs a potential client can be very helpful. To generate credibility with you, they will give you an astounding amount of help for free. Many REALTORS®, for instance, will provide you with all the contract documentation you need for the sale and purchase transaction for the property including a purchase agreement, escrow instructions, deeds, disclosures and a list of documents you will need. Some will even go so far as to provide you with free brochures for your home. Now, does that sound like an enemy?

Make no mistake, a real estate agent will help you because they believe you will eventually become a client. Even if you feel different about that last sentence there is little reason to view them as an enemy in your efforts.

Good Luck!

- Sell the home yourself (FSBO)
- List your with a Discount / Flat fee broker
- Utilize a full service real estate agent/brokerage (Most Recommended)

If you are inclined to sell the home yourself, note that you will bear the responsibility for marketing your property, along with full legal disclosures, inspections, appraisals and the like. You should be very comfortable with real estate related documents, and comfortable with the legal implications resulting from the transaction. Understand that there is a great deal involved and as much as many feel they can save money going this route, in the long run they end up not only spending more, but set themselves up for legal problems if the deal is done incorrectly.

You can also choose to use a discount or flat fee broker, who will assist you to sell your property. Depending on the broker you select, you may be able to get some assistance with marketing, open houses, disclosures, title/escrow, etc. Make sure that you understand exactly what services you are willing to pay. Make sure you understand what services are covered under each pricing plan. Find out if your listing will be posted on the website, what signage will be available to you; find out if you are posting the home to the respective MLS (multiple listings service) in your area. Each broker is different, so make sure to get references from former clients.

If you want to market your property to the largest pool of possible buyers, list your property with a full-service real estate broker/firm. Now, before you pick up the phonebook or check that postcard you received in the mail, make sure to take the time to interview more than one agent/agency. These days the old traditional ways of selling a home are not quite as common!

Find out if they are a REALTOR®– a member of the NATIONAL ASSOCIATION OF REALTORS, a trade organization of nearly 1 million members nationwide. Members of NAR subscribe to a stringent code of ethics to guarantee the highest level of service and integrity. You may also want to know if they have any special REALTOR® designations, such as GRI and CRS, which require that real estate professionals take additional specialized real estate training. In addition to qualifications, you should check references of the agent. Make sure to speak with former clients to see if the agent is responsive and is available to keep you up-to-date with progress. You need to have direct contact with your agent, so you will need to be as comfortable as possible. If you’re in Santa Monica, ask them which local board they are a member of as well.

The Santa Monica Real Estate agent that handles your listing should:

- Provide a detailed marketing plan for your house, including online and offline marketing
- Prepare a Comparative Market Analysis (CMA) of properties in your area that have sold, as well as properties currently listed
- Help you determine the best selling price for your house
- Advice on suggested home improvements and/or home staging recommendations

During the time that your house is on the market, potential buyers will make appointments to view your home, along with the planned open-houses that you or your agent may schedule. Try to evaluate the house as if you are seeing it for the first time. Buyers need to envision themselves living in the home, so take care to present the property in its best light. Put yourself in the position of a potential buyer and view the property starting at the front, itemizing the most cost-effective enhancements to make.

2) Clean up as much as possible. You may want to paint walls (neutral colors are best) or spruce up wallpaper. Replace old flooring and worn carpets. Check and repair damaged or unsightly caulking in the tubs and showers. If possible, hire a cleaning service. Display your best linens, towels, and shower curtains. Make up beds, and put fresh flower arrangements on the table. Make sure that there are no offensive odors in the house. Odor is the first thing buyers notice, and often a permanent turnoff. As suggested above, you may want to have a home stager to come in as they can work miracles and in many times play a strong role in a home selling quicker then it would have if the property wasn’t staged.

3) Make your house their new home. Put away or pack small appliances and other items that might be sitting on countertops or tables throughout the house. You want buyers to visualize the space in each room, so it is best to remove as many smaller items as possible. Remove personal items, pictures and items to present clear shelves, book cases and walls. Move excess furniture to make rooms more spacious. Replace heavy curtains with sheer ones that let in more light. Clean and organize the closets. If you must, store boxes in an out of the way location. You may also want to rent a temporary storage unit, to allow you to de-clutter every part of the house.

4) Don’t forget the outside! The right landscaping can enhance the curb appeal of a home. Eliminate weeds, patch bare spots, fertilize and water. Take a good look at the shrubbery. Bushes that have grown to cover windows should be pruned to let sun and light into the home. Fill in bare spots with small shrubs and colorful, fast growing annuals, such as impatiens and petunias. A few well-placed flower pots by the front door can be very inviting. Today’s buyers want low maintenance. Your goal should be a beautifully maintained yard that looks easy to care for.

5) Allow your agent/representative to show your home. Buyers don’t want to offend current owners, so they may be more hesitant to consider your home if you are present for open-house events. Be flexible about showings. It’s often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you’ll find a seller.

The reality of Real Estate investing, which will get told to you by also those who are considered by many to be Real Estate Guru’s that it may sound easy, and truth of the matter is that it’s simple, but not easy… Out of the thousands which attend seminars on Real Estate investing, the statistics show that only about 5% buy 1 investment property.

If you’re looking for a quick and short plan to assist you or anyone you know to start building some financial independence, you’re on the right page.

Those looking to invest in Single Family Residences should follow these 4 steps:

1. Buy homes below full market value. Yes, people really do sell homes for less than the home’s full value. The key is to understand that most home owners will only consider a purchase offer that is all cash and within 5% to 10% of their asking price.

The successful investor learns to find financially distressed home owners who have no choice but to sell for less than market value. In recent times with unemployment hitting an all time high here in Santa Monica and the surrounding areas, there are many Short Sales and Foreclosures out there. Too many individuals have lost their job or been suddenly transferred; some are divorcing; some have been living beyond their income; the family has been overwhelmed with medical bills and, not uncommonly these days, their money has gone to support a drug habit.

Those are examples of motivated sellers. They have to sell and they will accept something other than a conventional, all cash offer.

2. How do you find motivated sellers? You work at it! Like any business it is important to develop a little marketing plan. One that is simple, yet very effective, is the one that was proven 75 years ago by the Fuller Brush company; door to door sales.

You are selling your skill as a home buyer to people who must sell. Your are there when they need you and you have the skill to help them solve at least part of their problem. With door to door prospecting you will learn more and buy more homes quicker than any other method. However, most people just won’t walk door to door for three or four hours per week. OK, there are other ways.

You can watch public notices for the announcement of foreclosure sales. Meeting with a home owner right after they’ve received a notice that they are about to lose their home allows you to deal with a very motivated seller. Other public notices that provide buying opportunities include probate, divorce and bankruptcy. You can follow the Homes For Sale listings in your local newspaper or Internet site.

You can telephone the names found in these notices or, and this is the least time consuming, send a postcard expressing your interest in buying their property. It will produce buying opportunities, just not as many as personal contact.

3. After you’ve found a motivated seller you must understand how to frame offers that provide benefits for both you and for the home owner. A good real estate investor quickly learns that this is not a business of stealing property, but of solving problems in a way that benefits the seller.

The home owner is in a tight spot of some kind and you can save them from public embarrassment and, in most cases, give them at least a little cash to get a new start.

No investor can afford to leave cash in every deal. No one but Bill Gates has that much available money. You must use creative techniques like, leases, option and taking over mortgage payments. Little or no cash is needed for those deals. You can find plenty of reasonable priced educational material on those subjects in book stores or on EBay. The same education that seminars sell for thousands of dollars.

4. You make your profit when you buy! Never make a purchase until you’ve carefully determined exactly how you will get to your profit. If you hold it as a long term investment will the monthly rental income more than cover the monthly mortgage payment? Will you sell the deal to another investor for fast cash? Will you do some fix-up and sell the property for full value? Will you quickly trade it for a more desirable property? Have a plan before you buy.

There you have four steps that even a part-time investor can execute in three to four hours per week. What’s the missing ingredient? Your determination and perseverance. If you will unfailingly follow the plan for a few months you will be well on your way to financial independence.

The information contained in this article is provided to you “AS IS”, does not constitute legal advice, is governed by our Terms and Conditions Of Use. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this article. Any information should be independently verified for accuracy. Please consult with a Real Estate Professional if you have any questions about this article.

When Prime Lenders Are Best

If you have solid finances and an excellent credit score, then your best choice will be a prime lender. They will help you to get the best market rates and fees. With these perfect payment histories and strong assets, the bank is going to give you the best possible rates. Of course, by going online you can get even better rates and compare options as well. In turn, if you work with a mortgage broker, you are going to save both time and money in this process and even reduce how much you pay at closing.

If you are looking to put down less than 20% though, you need to understand that a private mortgage insurance policy is going to be required. These premiums can cost you thousands of dollars and can be removed only once you have equity that totals 20% of the value of the home.

Special Cases for Sub Prime Lenders

Subprime lenders are better choices for dealing with cases that might be unique. This includes strange terms and areas where bad credit might be an issue. Since they do deal with credit risks, they do have higher interest rates. Just be sure when you are considering working with these companies that you avoid anyone who is charging you an excessive amount of fees or interest. A good way to avoid this is by looking at several options and then working with these lenders to help you get the best deal. A good thing about these lenders is that they won’t require private mortgage insurance or perfect credit. You just may have higher fees and rates.

Where to Find Your Lender

A good place to find all the information you need for your quotes and applications will be online. Before you fill out anything though, check your online credit report. This will help you determine which the best choices are for you or you can check with your Santa Monica Real Estate Agent. They might have some ideas or be able to help you determine which you can qualify for.

Just remember that there are variations in the costs with each type of loan. Consider all your options and fees before you sign with any loan company.