A Seller's Plan! Where do I Start?

1. Find the Right Representative
The experience and knowledge of a dedicated real estate professional can be priceless. A good Realtor® forms a powerful team with his or her clients that makes it possible for them to have a smooth, successful, stress-free sale.
2. Determine your Needs/Wants for the Sale and for Your New Home
Selling your primary residence can be tricky because you have to simultaneously be thinking about where you would like to buy. First weigh your priorities – selling price is certainly important, but having a quick and efficient sale can often be worth accepting a slightly lower offer. Talk to your agent and make sure you’re comfortable with where your priorities are.

At the same time, you should be compiling a needs/wants list for the home you will buy. You will probably have to act fairly quickly when your house sells, so any amount of preparation you can do will serve you well.

3. Prepare Your House for Showing
Underprepared homes can be sales disasters. Your home will never get as much attention from potential buyers as when it is first listed, so clearing clutter, cleaning, making repairs, and putting your home’s best foot forward is essential. Don’t “open for business” until your home is ready to be seen as favorably as possible.

4. Find out How Your Local Market Looks
Being realistic about your market is the key to a smooth sale. There is no substitute for a professional real estate representative when it comes to local market knowledge.

5. List aAway!
Lots of photos and online exposure are the key to getting a good response for your listing. Working with an agent who uses Point2 Agent software is a great step in the right direction. Now just “open” the house and sit back and wait for the flood of eager buyers!





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What is a CMA and Why Do You Need One?


CMA is real estate shorthand for "Comparative Market Analysis." A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.

The first thing an agent will need to do to provide you with a CMA is to inspect your property. Generally, this inspection won't be overly detailed (she or he is not going to crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the agent at this time.

The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.

The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.

CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it's used to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Jean Powers CRS, ASP®, e-PRO, PMN
Real Estate Broker
(510) 908.9002
(800) 378.7300
Homes@JeanPowers.com
www.JeanPowers.com
www.JeanSellsDreams.com

Easing Your Children's Fears When Making a Move!

Helping Your Children Move to Their New Home!

If you’re relocating to a new city, you should try to make the transition as smooth as possible for your children. The best thing you can do is to keep them informed. Even if you think they don’t care or won’t fully understand the details, keep them as informed as possible so they feel secure about the situation. Children understand much more than some of us give them credit for. Getting them on-board for the move will help to make the relocation less stressful for the whole family.

The greatest fear preschool children typically have is that they will somehow be left behind. If you need to leave your children for a short time to search for your new home or to orient yourself to the new location, reassure them that you will be back. It may help if you bring them back something from the new location. Consider assigning them a task to complete before you return, such as packing some of their toys in boxes. This will help them feel involved in the move.

Elementary children may fear how the move will disrupt their everyday lives. Take pictures of the new location and of spots that you know they will enjoy, such as parks and pizza parlors. If possible, take them to the new location before the move to let them get a first-hand feel for the place and take the mystery out of it. Nothing is scarier to kids than the unknown.

Teenagers may be worried about fitting in and making new friends at their new school. To help ease their fears, find out as much as you can about the high school they will be attending. Make special note of the local trends, sports teams and school clubs.

Again, if possible, visit the new town before the move and visit the school that each child will attend. Schedule a meeting with the principal and teachers before their first day of school. If you can’t do it before the move, make sure to do it as soon as possible after the move. Once your children start to make new friends, encourage them to bring their new classmates home to visit.

Play tourist in your new location. This is a great way to learn the area and makes the children feel like it is a vacation. It will take time to make new friends so the touring keeps them busy and less likely to dwell on the loss of old friends.


Ready to select a REALTOR®….I am here to help!

Jean Powers
Broker Associate, CRS, ASP, LTG, PMN, SRES
Windermere Welcome Home
510.908.9002
Toll Free: 800.378.7300


Successfully Serving Alameda Since 1984

Economic Stimulus

President Approves Higher Loan Limits: On Wednesday (2/13), President Bush signed the economic stimulus package that includes a temporary increase in the conforming loan limits for mortgages backed by the GSEs (Fannie Mae and Freddie Mac) and the FHA. The new loan limits could rise to $729,750 in high-cost regions.

According to NAR, more than 85,000 REALTORS® contacted their senators urging them to support the increased loan limits and to pass the stimulus package.

REALTOR® Impact: Higher loan limits will have a direct positive impact on REALTORS®. The policy change will allow more buyers (both first-time and move-up buyers) to access loans with lower interest rates. Currently, most home buyers in high-cost regions (such as the SF Bay Area) must finance their purchases with non-conforming "jumbo" loans. The interest rates on these loans can be up to one percentage point higher than those that fall within the current $417,000 limit. Higher rates mean higher payments which could keep potential buyers out of the market. Lower raters will make access to capital easier and provide the incentive for buyers to get off the fence and into real estate.

Next Steps: We may see new loan products as soon as late April or early May. According to sources at C.A.R., the Secretary of the U.S. Department of Housing and Urban Development will have up to 30 days to finalize the actual amount of the regional loan limits. Once the limits are set, Fannie Mae and Freddie Mac will need to update their procedures to reflect the changes. Shifting from a national loan limit to region limits is a major change for both Fannie Mae and Freddie Mac. Regardless, our sources tell us that both GSEs want to implement the new limits as soon as possible.

CAR is not sure when the FHA will respond. However, they may be able to implement the new limits quicker than the GSEs.

This report is compliments of Bay East's Governent Affairs Director David Stark!