Buyer Information

TOP 12 Items to be Aware of with a Contingent Purchase

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12 ITEMS TO BE AWARE OF WHEN YOU'RE A CONTINGENT BUYER

WARNING: this is an “information heavy” post. You can either be an informed buyer or seller, or one with your head in the ground – so buckle up buttercup and let’s do this!

headshot heather ostrom coldwell banker listing agent realtor roseville rocklin marketer

By Heather + Steve Ostrom

*If you live outside of the Sacramento region, please stop here* Each area has it's own process, behaviors, rules, and regulations. Please consult a local REALTOR for proper process.

Meet with a listing agent that has a successful track record of contingent closings. Interview them in person and see their work online.

  • In an ideal world, you want that listing agent being your buyer’s agent so that there’s “less information chefs in the kitchen.” This isn’t always reasonable or wise, if both sales are not in the same area. Always err to an agent that has expertise in that city.
  • COP – Understand the forms involved – you will see or might see. Don’t just take the lip service of the listing agent’s success dealing with and negotiating a contingent sale or purchase. Have them walk you through the California= Association of REALTOR’s form – Contingency of Purchase (COP) – line-by-line.
  • Forms: Also the  Seller’s purchase of replacement property form (SPRP) Not everyone will use the SPRP and we have limited use with it as well – but something you should be aware of … it can be a limiting item towards finding buyers willing to take that risk on your first home.
  • Contingency removal form (CR – shown below) and how those dates will be potentially modified by the COP form (link above)

Have your trusted listing agent contact an Escrow and Title company (of your choice) to create an “estimated seller net sheet” drawn up on a realistic sales price, at a few different price points perhaps – as you never know what changes will occur in the market. This will be needed for the next step.

  • There are numerous title and escrow companies to choose from – in our area, title and escrow are usually housed in the same place. A great title and escrow officer can be the difference between a stressful and smooth transaction based on their experience, and knowing when to spot trouble on a file, and also ensure the lender gets their fees quickly.

When you need to sell your current home, in order to buy your next home – this is referred to as a “contingent sale.” Your purchase of your next property is “contingent” on the sale of your current home. As we are primarily listing agents working in Roseville and Rocklin, California and the greater Placer County region – we often receive offer packages that could stand for some improved presentation.

Speak to a lender and ensure the lender gives you buyer fees estimate and is upfront about your financial scenarios. Ensure your lender is connected with your listing agent and connect the estimated net sheet with them.

  • If you feel guarded or concerned with the lack of numbers being shared by your chosen lender – consider this a warning and red flag.
  • Interview with a few lenders – no listing nor buyer’s agent should boss you around on your lender, but you should also ask if they have trusted lenders that they know create positive outcomes for their clients. Most agents just want you to have a positive experience. We can’t tell you how many lenders have waited to the last minute to shock our clients – and then everyone loses and then potentially puts all files at risk for cancellation.
  • Have your lender explain what TRID is and how the dates involved with TRID cannot be modified.
  • Need a lender? Here are a few of our favorite local lenders to check out

Unless reason for concern, or past bad experiences, try to keep all escrows with the final listing purchase’s escrow company. Reason, if each day matters that you’re not in the next home – having at the same escrow company can be the difference between a same day closing versus a Friday closing on the first home, and Monday on the next, with money being wired to next escrow company. Yet numerous buyer’s agents continue to push for their escrow companies. The last house in the domino chain of closings risks the most – if your buyer’s agent has a legitimate concern for the escrow company, we get that – it’s happened to us too. As long as everyone understands and is disclosed the “why” … do what you need to do. Contingent sales are a group effort.

When offering on your “dream home” ensure the listing agent has access to updates without having to badger– from all lenders, listing agents, buyers agents, and title companies. All parties should be understanding of the elevated stress levels of the party at the end of the closings. This also includes updates about contingencieson all properties involved and dates involved. Contingencies: loan, appraisal, HOA docs (if applicable), preliminary report, seller disclosures, sale of buyer’s property (4B), buyer investigations, buyer’s physical inspection, review of liened items or leased – be mindful if a solar lease is involved.

Ensure you have contingency removal dates and closing dates for all properties involved– clearly marked on a calendar. It will be information overload that has the risk to have you twiddling your lips, but stay strong – this is a small window of stress for a lifetime of happiness to get your dream home. Education and information are your friends.

pebble creek rocklin kitchen towards bkyd

Understanding the upfront fees – the appraisal fee will be an upfront fee. The inspections (depends on the area) are often steered by the buyer side with a few exceptions in Northern California for country properties where you sometimes see septic and water tests on the seller. A delay on coordinating any inspections once you’re in escrow (while being mindful of when your inspection period starts and your contingency of purchase form are critical here). If you do not need to start inspections because of the way the COP form (see above) is marked – be mindful of this …

  • Do not wait to order your appraisal or hold off inspections – your delay as a buyer can be self-sabotage and risk a seller issuing a “notice to perform” if you do not hold to your contractual obligation. There will only be so much your lender or agent can do to protect you, if an appraisal review runs late or there isn’t anyone to have race out to an inspection same day past your contingency period.
  • Example, you have a home inspection on day 4 of a 17 day inspection period – you wait until day 15 to order a roof inspection or HVAC inspection because your home inspector suggested further evaluation – and then you need to race to ask for an extension. You can’t assume that you’ll be granted this modification to contract.
  • Warning: Contractors and inspectors can be booked out for a week or two, particularly for specialty items, or any testing involved. Some may be free for a bid, but some may be a fee (and a fee that is worth the cost for your review – there may not be any recourse after close of sale).
  • Fluid communication and updates between all parties (buyer + seller) can often solve a lot of these concerns if the time extension is genuinely needed, but it cannot be assumed it will be granted – particularly in a hotter market.
  • If you have a credit coming – be sure to loop in the lender that it might be coming (example a credit as part of negotiations from a buyer request for repairs).

ALWAYS have a housing solution, plan B. Your homes may not close on time and one deal may fall out and go back into escrow and affect a perfect closing.

  • Sometimes you have such a cherry “all-cash” deal closing on your primary home, that you have to just make it happen and find a rental solution.
  • If things fall apart, never force a home sale – it’s too big of a purchase and sometimes things don’t work out and it does stink. Sometimes renting is the temporary and right solution.

Seller Occupancy After Closing – Negotiate this Upfront when you’re a seller. Delays can happen on files. It happens, even on the most perfect of files monitored. There are numerous bodies behind the scenes on loan and this can affect your closing. Along with TRID – be aware of this as a buyer. TRID can delay you alone (see #3 above, last bullet).

  • Most lenders will not allow over 60 days of occupancy by seller after closing, and most buyers aren’t the biggest fans of much of anything past 30 days (if any at all)

It stinks if the seller knows you have to buy their home and they take advantage of this fact, when it comes to negotiating repairs or a credit after your inspections. All the more important to also have a plan B for housing if you need to walk away and it’s becoming too much. BUT having stated that, sometimes we need to see big picture, is it truly a crisis or an easy hundred dollar fix that isn’t worth walking away from your dream home. Break down all the costs and get bids to make an educated decision that’s right AND wise for you. Education and information is King/Queen.

Sometimes it’s best to take the credit and sometimes it’s important to wait to see request for repairs executed before close of escrow (COE). It depends on the scenario what’s the right route.

  • If it’s pest work, sometimes it’s important to have the house  opened up for review, to ensure there’s no other underlying issues or damage that can’t be revealed by a general inspection.
  • If you have work being done, as part of your request for repairs – ensure there’s mention of all work being done BEFORE close of escrow.
  • Sometimes it’s best for buyer to take the money credit – to take control of overseeing repairs by their own trusted contractor that way they know who the work is being done by, and may be able to save cost.
  • Ensure that a licensed contractor is doing all work and receipts are provided before COE (close of escrow)

Spread the word

All this coordination and effort – is worth it. These transactions can be a bit stressful, all the more reason you should work with us – we’re educated, experienced, happy, and we get it done. Plus we’ll do all the stuff behind the scenes to keep it less stressful for you. (Note: most of our wrinkles are either from our three kids or contingent sales). 

ostrom coldwell banker footer steve O logo heather o collage

REALTORs Steve Ostrom + Heather Ostrom – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker 2200 Douglas Blvd B-200, Roseville, CA 95661CALBRE# 01344154 + 01899313

SELLERS: What is My Home Worth?

Buyers: Start Your Property Search

The Closing Process in Placer County

The process for a home closing in Placer County

Every area has their own procedure with home sales, regarding signings at title (or via notary) and the closing process. This is one of the most confusing topic for buyers and sellers. Below, we’re addressing sales specifically in Placer County, CA. “All-cash” deals will have their own (quicker) timeline, and maybe that will be a topic for another video 🙂 This video applies to buyers with a loan.



You’re not alone if you’re confused on when do you sign paperwork, how does the closing happen, and when do we hand over keys? We will do our best to equip you with all the right information, so you feel as prepared and informed as possible.


More “Closing” Questions Answered

  • Do buyer and seller sit at the same table to sign paperwork? No, they’re typically separate appointments at the title company. In our area, escrow and title are in the same location (much easier). You’re not sitting with the opposite party, signing at the same time.
  • What if I can’t come to the title company? It happens, a notary can come to you, at an additional fee. We usually encourage the buyer or seller, to go to the title company for a signing of final paperwork, but if it’s a “larger brand” title office with multiple branches locally, we can sometimes have you signed, with warning, at a nearby office, if the main title company isn’t convenient to access (example signing in Roseville vs. going to a Sacramento office).
  • Can we schedule our signing in advance? Not always, depends on loan docs arriving at title. Depending on the type of loan, the seller can sometimes sign earlier. But best not to assume, lets have that dialogue in advance, if one seller will be inaccessible – starting to about a week, before closing.
  • What if I can only sign after-hours or on the weekend? If you’re on vacation, or have limited signing capability, let us know and for a small fee, we may be able to have a notary come to you. This can pad a day or two to closing, and if you’re out of the country when loan docs come in, this is definitely dialogue we want to have in advance.
  • When we sign, does that mean we’re closed on the home? No. If the buyer has a loan – it depends on when funding occurs (can be near immediate, immediate, or 24-48 business hours after review). If you’re buyer, have this communication of process, as the lender is at the steering wheel at one point, determining much of these timelines. If you don’t know what questions to ask, we can help you.
  • Why is there a “Final-Walkthrough” by the Buyer? It’s the buyer’s right to ensure the property is in the same condition, as when they went into escrow. Your home is most likely in chaos-mode with packing, so don’t fret, but know that this visit will happen right before closing.
  • When do we turn off utilities? Unless otherwise specified in contract, utilities are to always stay on, until we know we’re going on record / closing that day.
  • How clean does your home need to be? It’s a touchy subject as you can imagine. Do as agreed to, between buyer and seller. When in doubt and a professional clean is requested, it’s not a bad idea to consider hiring who the buyer prefers, to avoid any disputes of “what’s their interpretation of ‘clean.'” We think it’s a good gesture to hire a professional cleaner. Typically, “broom swept and clean” is the asked for item, but expectations are always different from folks.
  • Is it okay if I leave trash on the side yard, or items in the garage or attic? All furniture and personal property, inside and outside the home – MUST be removed. With extra paint that belongs to the house, typically you’re going to want to see a new home owner want to have that … to avoid painful paint-matching, but all other items, when in doubt, ask buyer-side, and don’t make assumptions what’s okay to leave behind.
  • When and how do the buyers get the keys? Keys can be retrieved, the day of closing, by default 5pm. Check your contract first – that’s what determines “what time.” Typically, one key is left in the Metrolist Lockbox, that the buyer’s agent can retrieve at the right time, and hand that key over to the new buyers. If you’re a new homeowner – PLEASE re-key your home, always.
  • Will the sellers leave me items, to help out? If you’re a seller, before closing, ping your agent to share with the buyer-side, all utility info and where you’re storing appliance manuals, extra keys, mailbox key, when trash day is, and any helpful info that might give the new home owners a “leg-up” … the buyers will be grateful.

Super-Point-Steve-Ostrom-Roseville


Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom
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Coldwell Banker Residential Brokerage

See more informative posts at:  www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker  – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!


Disclosure: Always consult local regulation and your trust real estate agent representing you. All items in the video, and above, are how we would educate our clients here in Placer County. Any financial items, always consult your trusted financial and/or tax advisor.

Black Widows, Buzzing Wasps, and Beetles – OH MY!

Discussing Pest Service Zack Finley Steve Ostrom
Discussing Pest Service with Zack Finley and Steve Ostrom

So perhaps you’re considering regular pest service … or maybe you just need one-shot to get rid of wasps. Black widows are another item we see often in our area. They’re the shiny, eight-legged vampires of the night – you won’t always see them during the day, but look out once the sun is down. Okay, I know … that’s not nice that I am typing this and freaking you out (bleegggh, they freak me out)

Black Widow

The reason we love working with Zack is he’s a good person, that knows and loves what he does, and helps home owners with their pest problems. And he always has an idea for how to tackle pest problems.

Sometimes one visit takes care of items, but sometimes the right solution is on-going service.

So listen in to what options you have with regular or one-shot pest service. I know my Mom and I both re-watched this video and it’s amazing how much we learned just from listening to Zack.

Also one other thing to mention, if you’re considering putting your home on the market for sale, a clear pest report is a great thing for a listing agent to have or know about, so be sure to mention to your listing agent (but of course, that’s us … right?) * wink wink *

If you’re looking to have a WDO review or pest inspection done … read up more here.

Finley-Home-Services-Truck

Visit Finley Home Services: Termite and Pest Control Website 916-741-2847 (BUGS) or  info@finleyhomeservices.com


Property Questions or Showings?

916-308-2446 – Homes@RosevilleAndRocklin.com
REALTORs Steve + Heather Ostrom

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Coldwell Banker Residential Brokerage

See more informative posts at: 
www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446
RosevilleAndRocklin@gmail.com – CBPlacerRealEstate@gmail.com
Coldwell Banker  – Roseville, CA – CALBRE# 01899313 + 01899313
2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!

Sellers: How Should I Prepare for a Pest Inspection?

Finley Home Services Discussing Pest WDO Inspection
California: Zack Finley Explaining What Happens at a WDO / Pest Inspection

Californians: so your property just went into escrow and your inspection period has started.

Sellers are you ready? Is your home ready? Do you know what’s going to happen?

If you watch the video below, you’ll be thanking us, I promise. It’s a great prep tool for sellers preparing for a pest or WDO inspection (wood destroying organisms).

Avoid last minute scrambling, moving items in your garage, cutting back bushes, and most importantly … avoid an unnecessary re-inspection (that could have been avoided – which will cost the buyer or seller additional money for a re-visit and could delay closing).

Before you do ANY packing or rearranging of your home, AND BEFORE your home goes active on the real estate market. Watch Steve Ostrom and Zack Finley review the important items to be ready for in a pest inspection.

 Whether it’s called a Wood-Destroying Organism Inspection or a Pest Inspection, you’re going to love the great tips from Zack Finley of Finley Home Services: Termite and Pest Control. You’ll be ready to go for your pest inspection and less stressed.

More tips:

  • Buyers, talk to your real estate agent about timelines and who’s paying for “what inspections”
  • Before doing ANY repairs – always verify your contractor is licensed (active) and bonded before any inspection or review or repair is conducted. DIY projects can bite you in the tail. Do you really want to take on that risk if something goes wrong after the close? If you think you’re immune to this, we can share some horror stories of why it’s best to pay a few extra bucks and waive off that liability.
  • Pest inspectors: ask for recommendations from your agent or friends. We love Zack Finley with Finley Home Services. Their contact info is below (serving the greater Sacramento and Placer County area)
  • Ask about pricing for inspections  (in advance vs. through escrow) – it may be cheaper to pay on-site or in advance.
Finley-Home-Services-Truck
Visit Finley Home Services: Termite + Pest Control Website

Visit Finley Home Services: Termite and Pest Control Website 916-741-2847 (BUGS) or info@finleyhomeservices.com

Buyers and Sellers – always speak to your own real estate agent first, for counsel, direction, and ordering your inspections. This post is not meant to interfere with your buyer or seller’s decision or pest inspection. 

___________________________________________________________

Property Questions or Showings?
916-308-2446 – Homes@RosevilleAndRocklin.com
REALTORs Steve + Heather Ostrom

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Coldwell Banker Residential Brokerage

See more informative posts at: 
www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446
RosevilleAndRocklin@gmail.com – CBPlacerRealEstate@gmail.com
Coldwell Banker  – Roseville, CA – CALBRE# 01899313 + 01899313
2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!

Helpful Tips for Researching your new Neighborhood and Home

So maybe you’re getting ready to start researching the internet for your dream home. Perhaps you’re a first-time home buyer, it won’t be your “forever” home, but you know what you need to do, to get there … or maybe you’re a move-up buyer, looking to purchase a larger space (where you might have to list your home, to buy the next one) … or simply you just want a home in a new location (whether for need or relocation).

So not too long ago, I thought Steve O and I did a pretty awesome video on what buyers should look for when researching their next neighborhood at it was featured on the international Coldwell Banker website.

It’s not always about the data that everyone can find. It’s also the workings of the neighborhood at different times of day, knowing what’s important to you in your daily life and how quickly you can access those items when you need to or in regards to your schedule.

So check out our blog post, and we hope you enjoy, and I guarantee you’ll take some useful information from our video (and as usual, moderately entertained, while being educated). “Expert Tips for Finding the Perfect Neighborhood to Buy In … by Steve and Heather Ostrom

finding the perfect neighborhood and what to look for

http://blog.coldwellbanker.com/expert-tips-finding-perfect-neighborhood-buy-2/

**Update: We’re back at Coldwell Banker Residential Brokerage on Douglas Blvd in Roseville, CA**

Source: Coldwell Banker Blog


More Helpful Buyer Tips:

If you’re looking to research utility information for Roseville or Rocklin, or the greater Placer County area – definitely check out our “good info” tab above. It’s awesome and houses much of what buyers are looking for when trying to track down school boundaries, utilities, and area information. https://rosevilleandrocklin.com/cityinfo/

Great Tips here: If You Need to Sell Your Current Home before Buying the Next – Click Here


Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom
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Coldwell Banker Residential Brokerage

See more informative posts at:  www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker  – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!

The Different Flavors of Mortgage Insurance

What is mortgage insurance and what are your options?

Definition from Wikipedia: Mortgage Insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer. The policy is also known as a mortgage indemnity guarantee (MIG)

With the info overload in new real estate and numbers that are presented to buyers, it’s no wonder why there’s confusion regarding mortgage insurance. There are many misconceptions about mortgage insurance, so we asked Ryan Nordby of Princeton Capital – Roseville, CA – to go into a deeper discussion about the three flavors of mortgage insurance. In some cases if your credit score is high enough, the “one-time” buyout might be a better solution instead of putting 20% down on your next home.

Here is the example that Ryan uses:
For a $400,000 Purchase 10% down is $40,000.
The MI buyout for a client with 760 credit is 1.27 Points.
($360,000 Loan * .0127 = $4,572) vs. $40,000 more down.

Currently, since FHA financing has changed so much, we are seeing much more conventional loans. In the past, it seemed like anything with less than 10% down was FHA. Once FHA changed their mortgage insurance to being attached to the loan for the life of the loan, we are now seeing primarily conventional loan offers on our listings. Many of them are with as little as 5% down. It is important to go over all scenarios with your lender to know what is the right fit for your current situation, and also for planning down the road and your economic success.

Mortgage Insurance with Ryan Nordby in Roseville

To speak to Ryan directly, and get a specialized quote specific to you, give Ryan a call or send him an email.

Ryan Nordby, Senior Loan Consultant – www.RyanNordby.com
Cell: (916) 600-6480 – RyanNordby@princetoncap.com
NMLS# 260857 – CalBRE# 01405357

Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom

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Coldwell Banker Residential Brokerage

See more informative posts at:  www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker  – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!

 

How to View your Tax Bill in Placer County

How do I View a Past Tax Bill in Placer County

Thinking of moving to Placer County, California? 

Or may you’re just relocating within Placer County … We’re often asked about taxes for a property they’re interested in buying and the breakdown of those taxes.

We can help you find the info and answers to your questions! And when in doubt, ALWAYS contact the Placer County Tax Collectors Office 530-889-4120 or the Placer County Assessor’s Office at 530-889-4300. Buyer to verify all information found on this website with the county. A real estate agent cannot relay this information for risk of information changing (and beyond their control), but we know you need and want this info (as would we).


**For Placer County ONLY**


How to VIEW a Property’s Tax Bill, without the APN Number

NOTE: If you already have the APN (assessor parcel number), you can skip to “part 2” below.

  • PART 1: 1. Know the Property Address,  2. Figure out the APN (Assessor Parcel Number)
  • PART 2: Plug in the APN to retrieve the Tax Bill information

PART #1 – Get the APN Number by Inputting the Property Address

The APN is four sets of three numbers (example: 000-123-123-123) . If you have a MLS sheet print out from your agent, you can find it at the top of the page. If you DO NOT have the APN … here’s how to retrieve an APN for a property you’re interested in …

Go to the Placer County “APN Map Search Site”: CLICK HERE for the Map Search for APN for Placer County (this site might take a minute to load): http://maps.placer.ca.gov/

At the TOP RIGHT, plug in the 1. property address and hit “search” … and then grab via “copy and paste” the 2. APN from the search results

Tax-bill-Placer-County-APN-Search

PART #2 – Plug APN on the Placer County Tax Collector Site

Click Here to visit the Placer County Site: Tax Bill Search and Plug in the APN http://www.placer.ca.gov/departments/assessor/assessment-inquiry
(you’ll be cue’d to agree to Placer County’s disclaimer terms)

Tax-Bill-1Tax Bill in Placer County APN

Voila, you’re done and you should have your Tax Bill PDF downloaded. If you’re still having problems, post a comment below or shoot me an email and we’ll help you out.

 More Info:

Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom

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Coldwell Banker Residential Brokerage

See more informative posts at:  www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker  – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!

steve ostrom realtor roseville rocklin granite bay real estate listings for sale fsbo bank owned reo repossessed goldfish

equal housing

Equal Housing Opportunity

Remodel or Move Up?

George Jefferson
Flickr: Photo Property of Pete Prodoehl

Have you been debating if you’re going to move up to the “apartment in the sky George Jefferson” or are you going to make your home the place you always dreamed to live in?

Hard questions for many of us to answer. Do you go out and find the perfect home or do you create your “nest” to reflect your perfect world? Well, what I would suggest starting with making lists of the pros and cons of what’s the best route for your situation.

  • Do you love your current home and neighborhood?
  • Have you been looking for an opportunity to change school districts or move to another neighborhood? Maybe a cul-de-sac location is your dream situation, or perhaps more land to stretch on or maybe a lower-maintenance yard?
  • Will you be “over-building” for your neighborhood (with a remodel)?
  • Will you be selling in the near future due to needs of a downsize or more space? Important to ask if you’re trying to get return on your upgrade or remodel.
  • Draw up the costs of that pool you have been dreaming of, or that must-have upgrade you have always wanted (example kitchen, or master bedroom, etc). Get quotes for your upgrades. Concrete items for your budget.
  • Are you in a two-story and you’re starting to think of the future and a one-level home, or need that first floor full bedroom and bath? Are monthly bills fitting into your future budget?
  • Do you know the values of your neighborhood and current value of your home model (no, not your Zestimate)? We can help you here. Just let us know.
  • Your ‘target’ neighborhood – do you know what the going prices are going for, with what size of home you might need that will fit your budget? (including Mello Roos / taxes, utility group fees, etc)
  • Have you spoken to your lender or a listing agent to start putting some numbers and options to those “move-up” dreams? There’s no harm here, why not? Here’s a list of local lenders we have worked with before and enjoyed.

Life is not always perfect and not all of us have the means for change, or desire. Why not see what the options are for your improved life quality and daily life function in your home. In many cases, with this market, if you’re unhappy with the area you’re in, it might make sense to move-up into your “perfect home.”

For folks where expensive and costly remodels may NOT make sense and are NOT the solution. Example, a “move-up” buyer or maybe someone that might need to downsize in the near future. Get a second opinion on your choices for upgrades, particularly if you do have intention to sell soon. You might want to modify upgrades and remodels that are appealing to a larger group of folks, and perhaps not drain the life savings into a kitchen remodel if you might be moving (and hopefully find that perfect kitchen in another home).

Are you the Lexus amongst the lot of “Tow Maters?”

Are you at the top of the food chain with or without these upgrades already? Do your homework on your competition and be aware of pricing of that competition in the neighborhood and know how appraisals can affect buyers on your home. When it comes to selling time, you might find yourself frustrated that you didn’t consult  an appraiser before making costly upgrades … and talk to a REALTOR, so you know what the values are in your neighborhood, tailored to your home.

One thing not addressed in the video by Steve O, are the folks that ARE perfect candidates for a remodel or home upgrade. Particularly if you love the area you are located. I know, some folks don’t mind the money invested if it means for their quality of life, enjoyment and for those that qualify for those comments – do it! If you’re blessed to live in your “FOREVER” home and do NOT want to move – and you are the perfect candidate for a remodel. What are you waiting for? Start requesting some quotes from a few licensed contractors and create the space you deserve. (and don’t forget to check with your state board with contractor licensing and bonding for remodeling, if applicable)

This video was created by Ryan Lundquist – Lundquist Appraisal Company.  See a few of Ryan’s spectacular posts on “what NOT to do to your home” … 

We’re here for your needs and what’s right for you, BUT if you’re NOT in the place you want to be, and you do have the means to move-up – you SHOULD check out your options out there.

Don’t let “what-ifs” keep you from research, and give us a call today – let us know if we can help you put your dream home on the radar.  916-308-2446

“Should You Stay or Should You Go Now?” 🙂


Property Questions or Showings? 916-308-2446 – Homes@RosevilleAndRocklin.com – REALTORs Steve + Heather Ostrom
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Coldwell Banker Residential Brokerage

See more informative posts at:  www.RosevilleAndRocklin.com – Roseville and Rocklin Real Estate + Lifestyle

Author: Heather Ostrom, Real Estate Marketing – REALTOR

Steve Ostrom, Primary Listing Agent + REALTOR – 916-308-2446 – Homes@RosevilleAndRocklin.com – Coldwell Banker  – Roseville, CA – CALBRE# 01344154 + 01899313 2200 Douglas Blvd B-200, Roseville, CA 95661

Learn more about listing your home with us!

Being a Prepared First-Time Home Buyer

First-time home buyer series … there are many variables to consider when beginning your real estate searches, how or what means being prepared to start your home hunt. This is your information gathering phase and make sure your buying experience is a good one, by being prepared and asking yourself the right questions and communicating your precise needs, time frames and expectations.

And yes, this is a rare Heather O video. 🙂