by CRESTICO | Jan 31, 2009 | CRESTICO
You’ve been hearing a lot lately about foreclosures, REOs and short sales. There are conflicting reports about whether or not they can be good investments. At Crestico Realty, we pride ourselves on giving you the most up-to-date information on making the best Real Estate decisions for yourself and your family’s future. Buying a foreclosed home may not be for everybody, but keep reading and find out if it’s right for you.
Sometimes, foreclosed homes can be good investments, because often, they sell for less than market value. For a first-time homebuyer, the process may seem more complex and time-consuming but that’s why we, at Crestico Realty, are here to help! A foreclosure is a property that is being “foreclosed” upon by a bank or some other lending institution. It is a legal process through which the homeowner's rights are terminated, generally as a result of his/her failure to pay the mortgage.
One thing that is important when considering the purchase of a foreclosure, is where and how the home is being sold. Often, real estate auctions are where foreclosures are sold because the lender is generally trying to sell the property as soon as possible. At auctions, buyers are generally expected to pay for the house at the end of the auction, which means the financing must already be in place. At Crestico, we work with a preferred lender to make sure that if you want to purchase your home from an auction, we have your financing ready to go.
However, in today’s market, auctions are not the only way to purchase foreclosures. Many REO (real estate owned) companies purchase these foreclosures and list them for sale, essentially performing the function of a “homeowner” who does not live in the house. When making an offer on such a home, it is still a great idea to have your financing in place, so that your offer (which will most likely NOT be the only one) will be easier to accept.
Buyers often ask, regarding foreclosures, “Will I be able to gain equity in an REO?” The answer to this question is generally dependent on (1) the current value and (2) the sales price of the property. If a buyer purchases a property for less than it is worth, there is automatic equity. With foreclosures, and an experienced Crestico agent, you can have the peace of mind that we will find you the right foreclosure to purchase.
If you are interesting in purchasing a foreclosed property, your Crestico agent will work to find you the best home! Your Crestico agent has access to many services that track foreclosures in and neighborhood you are looking to move to, in California. We stay on top of your search. With foreclosures, you have to move quickly because the lucrative investments get snatched up quickly. Call today and speak with one of our REO Buyer Specialists!
by CRESTICO | Jan 31, 2009 | CRESTICO
LISTING YOUR HOME AT THE RIGHT PRICE
You have finally decided that you want to sell your home. Where to start? The most important thing you must consider is the price. This is going to be the first impression a potential buyer gets of you and your home. If you price it too high, you risk discouraging buyers and reducing your home’s appeal after only a short time. Industry standards dictate that most listed homes see a reduction in demand and interest after about 3 weeks. Industry practice has also shown that if you price your home too low, market factors will raise the price to market. This is because you will receive multiple offers on a low price and potential buyers will end up bidding more and more to get your home. 2 things you should consider when attempting to determine a price are Supply and Demand. Now, we have all heard these terms in our high school economics and government classes but what do they mean to you, a potential home seller? They mean you must consider how many homes are on the market in your area (supply) and how many people are looking to buy them (demand).
Here are a few other thing to consider when trying to set a sale price for your home:
Comparable Listings. A good starting point is to take a look around your neighborhood. Compare your house to the others on your block (we generally recommend considering homes up to but not further than a 0.5 mile radius from your home). And don’t just look at today’s prices. Do a little research and go back a few months. Look at recently sold as well as currently listed properties. Spend some time gathering information, this will all be useful to you in determining a price base. Compare things like year built, square footage, lot size, pools, second stories, driveways, garages and carports. Look at old listings, expired listings and withdrawn listings to determine the number of days each comparable property was actually on the market. Pay attention to sales price in relation to listing price. Discrepancies in the two may indicate trends in the local area.
When considering active listings, remember these are the homes that buyer looking to purchase in your area will be looking at and mentally comparing to your home. Attend open houses in your area and take tours, check out the competition. Make a note about anything that strikes you and apply your perceptions to your own home’s open houses and tours. We at Crestico have preferred partners that are specialists at Staging. Staging is when you prepare your home in an aesthetically pleasing manner so as to entice and induce buyers.
After you have gathered all the information you need, your next step is to make sense of it and set a price. Another thing to consider would be what type of market it is, buyer’s or seller’s. This seems tricky, but your Crestico Agent will be able to sort it all out with you and explain it in easy to understand terms. Call today to speak with an agent who is ready, willing and able to help!
by CRESTICO | Jan 31, 2009 | CRESTICO
Crestico Realty –
Speaking farsi isn’t enough! There is more to being the Iranian Community’s #1 Real Estate services firm than speaking the language. Not only do we speak your language, but we understand your needs. Crestico Realty was founded by an Iranian-American to help serve Iranian community in the Southern California area. At Crestico, your Iranian agent will be the difference between a pleasant, satisfying, and stress-free home buying or selling experience and an unhappy, stressful, dissatisfying one. Many agents hold themselves out to be specialists in the Iranian community, but they are not.
At Crestico, our agents spend time understanding and discovering your needs. Many Iranian families are larger and more expanded than the typical “American Nuclear” family. We understand you may have special needs when searching for a home. We also understand the culture. We know Iranians are warm hospitable and generous, which makes for wanting homes that are designed with entertaining lifestyles in mind. We cut straight to the point to get you what you need.
Crestico Realty has helped numerous Iranians achieve the American dream of home ownership. We get the job done and we do it smoothly with no hassles and stress. We understand Iranian tradition and culture, ways of life and working, financial management strategies, faith, concerns, goals, needs, and dreams. We look forward to adding you to growing family of happy homeowners.
For more information please visit www.crestico.com or call (818) 784-2929
by CRESTICO | Jan 31, 2009 | CRESTICO
Is Your Agent Right For You?
Your agent will play an important role in helping you, the buyer, find and get into your dream home. Many agents hold themselves out to be “Buyer’s Agents” but they may not be. Here, you will find some tips and information on how to tell whether your agent is really right for you.
A good agent will be clear. This means you will know clearly and concisely what services he/she will be providing you, what his/her relationship is to you and he/she will be getting paid.
A good agent is unbiased. This means that you will never feel pressured into approving or disapproving any one specific property you are shown, especially because it may affect your agent’s compensation.
A good agent is meticulous. This means that your agent will spend time and effort determining a fair and reasonable price on the property you are considering. Your agent should review comparable sales in light of inventory levels and the economic environment as well as considering your individual property’s attributes. This also means that all your documents (whether being submitted or received by you) will be proofread and reviewed to insure against errors and omissions.
A good agent is a good negotiator. This means that you will not feel alone and abandoned when it comes time to negotiate with the seller and his/her agent.
And finally,
A good agent uses his/her resources. This means that your agent, who is more knowledgeable about the Real Estate industry than you are, will use his/her resources to help you get the best value in home inspectors, appraisers, repairmen, decorators or any other “expert” advice and opinions you may need.
We at Crestico Realty pledge our commitment to you as being some of the best Buyer’s Agents around. Not only do we do all of the above for you, but we take that commitment even further. We have networks of professionals in related industries from financing to decorating to make sure that when you work with a Crestico Agent, you are taken care of from start to finish. Call us today for a consultation so we can show you the Crestico advantage. We truly are your ONE STOP SHOP for all your home-buying needs.
Mitra Karimi, President
Crestico Realty
by CRESTICO | Jan 31, 2009 | CRESTICO
Real Estate Career?
TREAT YOURSELF to the best new year’s resolution ever by moving your practice to a young energetic brokerage where you are still your own boss but get all the benefits of being associated with a nationally recognized brand! Crestico Realty is looking for licensed Real Estate Agents like you to come down and interview!
Crestico Realty is a boutique Real Estate firm that focuses on handling all forms of real estate transactions. We offer *NO DESK FEES* and have great relationships with our business partners who work with us on a day to day business. If you are an independent visionary and get excited by the limitless possibilities of today’s market, then give us a call. At Crestico, we treat our agents like family, offering unprecedented support, generous commissions, the best training and mentorship for new agents, additional incentives & bonuses, and further opportunities to grow and expand your career.
We are looking for agents who are more than just agents – we want real estate specialists, who love their work and see income potential in every conversation they have!
Please send your resume, along with cover letter to careers@crestico.com.
For more information please visit www.crestico.com or call (818) 784-2929
by CRESTICO | Jan 23, 2009 | CRESTICO
In an industry like Real Estate, where being an agent is an unsalaried position and the business experiences so much turnover, which broker you choose to hang your license with becomes an important consideration for your career.
A vital part of your success will depend on your broker and at Crestico we believe, as your broker, we have a responsibility to support your growth and profitability, so that you will do well. Choosing the right broker involves more than supplying leads, or offering the best commission splits and lowest desk fees!
We encourage you to speak to our agents and see that our environment enables you to make real money! Realizing you made the best decision gives you peace of mind. We at Crestico understand that it’s comforting to know you’ll have support when you need it, in addition to technology, and a market presence with a broker that the public wants to do business with!
For new agents, the industry poses many challenges. Almost 85 percent of new real estate agents “drop out” after less than one year in the business, and 15 percent of the remaining don’t renew their licenses. We want to make sure you’re not one of these statistics. Successful real estate agents are self-starters and go-getters. The beginning of a real estate career often involves lots of rejection. But it’s only temporary. As a real estate agent, you are more than a person who shows properties, you become a trusted advisor and your clients look to you for your knowledge and expertise. Buying a home is the most expensive (for most people) transaction of their lives.
For more information please visit www.crestico.com or call (818) 784-2929
