Where to you start with a Redesign Project?

Mary Williams Interior Redeisgn

It’s so exciting! You are going to update, refresh or redesign your home. But wait! Before you hand over a hammer or money to just anyone there are a few things you need to get in order.

Know EXACTLY what you want.

That sounds pretty elementary, but if you don’t know exactly what you want, you may end up with something the contractor likes or wants only to find out that is exactly what you DIDN’T want.

Don’t run with the lowest bid.

If you are looking at remodeling or redesigning from just the $$$$, you may end up with exactly what you are paying for. I know it can get expensive, but spending the money on quality work as well as materials will save you huge headaches in the long run. Best thing to do is to gather three bids from reputable contractors and then ask the questions to determine who is the best fit for you and your redesign project.

Get it in writing!

S*P*E*L*L out your project in extreme detail and include time limits. Also, include verbiage which includes what happens if there is a defect in the material or workmanship. Be sure to include a payment schedule to what is paid at what point. Don’t pay all upfront – delegate a certain amount of money to be paid at different stages of the redesign, leaving the majority of payment after the work is completed.
Finding the right contractors or where to start can be daunting in itself, but I’m here to help!

If you are thinking about a remodel, redesign, or reorganizing;
then I am your redesign professional!

If you are considering selling your property,
and you think it needs staging; I am your neighborhood professional!

Call me at 760.567.7282!

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Vacation homes are HOT in the Desert!

According to a recent report from REALTOR(r) Mag, the Vacation Home market is heating up. Americans are feeling better about the economy and area showing that by spending money on Vacation or 2nd homes. One of the major enticements is the low interest rates - the other is the great deals out there. However, many vacation homes are purchased with cash in the Desert. Nationally about 46% of vacation home buyers paid in cash. If buyers did finance, they generally made at least a 27% down payment.

According to the NAR(r) report, there was a 10% increase in vacations homes purchased in 2012 - and it has been going on strong ever since and especially here in the Desert.

"A lot of buyers who were sitting on the sidelines decided last year was probably a good time to take advantage of buying a vacation home," says Paul Bishop, NAR’s vice president of research. "They were feeling pretty good about their own financial situation, given the growth in the market and in the economy."
Even though it's about the end of our Season in the Desert, it won't be too long and the winter season will be upon us. Why not take advantage of the housing prices in the Desert now and have your home all lined up to come back to in the Fall?

This would be a great time to purchase and then refresh and redesign during the hot summer months. Call me today to find out how.

Mary's Newsletter is Out!

May's Newsletter is Out!!

Follow this Link to Read More!

California's Median Home Price 28% HIGHER than Last Year!

Desert Luxury Realty

Total Single-family homes sold in California

April 2013 - 423,510 single family units sold

March 2013 – 417,880 single family units sold

April 2012 – 43,770 single family units sold

April 2013 was down 3.7% over last year, perhaps due to the low inventory.

Median Prices for homes sold in California

April 2013 - $402,760

March 2013 - $378,960

April 2012 - $312,500

April 2013 was 28.9% higher than last year AND the first time since 2008 the median home price has popped over the $400k mark. This also marks the 14^th continuous month home prices have gone up and 10^th month of double digit gains. The increase of the median home price in due to the increase of luxury homes sales. “The upsurge in the median price continues to be driven by an increase in sales in the upper- price range, where low inventory is less of an issue,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Over the past year, home sales in the $500,000-and-higher market segment posted a year-over-year gain of 35 percent on average, which contributed to an increase in the statewide median price of nearly 30 percent from the previous year.”

Inventory of Homes in California

Inventory of unsold existing homes was 2.8 month supply, which was down from March and down from 4.2 months last year. A 6 to 7 month supply of homes in California is considered normal. With fewer homes on the market, the homes are selling faster. Almost half the time as last year. April 2013 County Sales and Price Activity (Regional and condo sales data not seasonally adjusted)

April 2013	Median Sold Price of Existing Single-Family Homes					Sales
State/Region/County	Apr-13	Mar-13	Apr-12	MTM% Chg	YTY% Chg	MTM% Chg		YTY% Chg
CA SFH (SAAR)	$402,760	$378,960	$312,500	6.3%	28.9%	1.3%		-3.7%
CA Condo/Townhomes	$319,080	$306,050	$237,320	4.3%	34.5%	2.1%		2.7%
Los Angeles Metropolitan Area	$370,640	$352,510	$289,700	5.1%	27.9%	6.0%		2.2%
Inland Empire	$231,610	$227,920	$181,770	1.6%	27.4%	2.1%		-4.6%
S.F. Bay Area	$685,530	$636,150	$526,370	7.8%	30.2%	13.6%		-1.8%
Southern California
Los Angeles	$361,630	$340,890	$286,800	6.1%	26.1%	9.0%	5.7%
Orange County	$653,740	$619,430	$513,950	5.5%	27.2%	6.8%	9.7%
Riverside County	$274,420	$263,670	$213,950	4.1%	28.3%	1.3%	-4.9%
San Bernardino	$164,470	$161,900	$132,030	1.6%	24.6%	3.4%	-4.1%
San Diego	$454,390	$436,710	$369,910	4.0%	22.8%	4.5%	9.2%
Ventura	$502,940	$475,000	$427,320	5.9%	17.7%	6.5%	0.5%

  Information from a news release from California Association of Realtors®.

Purchasing your vacation home in the Desert

[social] It’s a known fact, once you leave the Desert, you dream of come back and purchasing a home in the Desert. Most times it’s your second or vacation home – a get-a-way from the cold and snow of winter. However, before you start looking at homes, there are some things you may want to keep in mind.

Do you buy your home outright? Or do you finance it? Interest rates on vacation homes tend to be higher than conventional rates, but both are historically low right now. Both 1^st and 2^nd home interest rates are tax deductible … for now.

If you finance, should you opt for a 15 or 30 year mortgage? Adjustable rate? (Don’t forget we’re just getting out of the Housing crisis – many people had ARM’s.) If there’s a lot of equity on your first home, should you take out a home equity loan on that to pay down your vacation home? All scenarios to discuss with your loan officer before you write an offer or even start your Desert vacation home search.

Second/Vacation home mortgages, along with having higher rates, have more rules than if the purchase was your principal residence. One question the lenders will ask is how will you handle an unexpected financial crisis owning two homes and all their expenses? This will probably require you to detail and explain a lot more of your information than you would for your first home. It’s still a great time to purchase in the Desert and there are great homes on the market right now!

California Lifestyle Realty Featured Homes – May 10th to 12th

Your dream home awaits … Call 760-567-7282 today! Below are the latest properties featured in this week’s ad. Call me to see any of these great homes!

 

May 2013 Interior Redesign Newsletter

Pocket Listings in the Desert

“Pocket Listings” are not new in the La Quinta and surrounding areas in the Desert. In case you’ve heard of “pocket listings” but not sure what they are, they are homes which have been listed with a real estate agent/REALTOR®, but not submitted to the Multiple Listing Service.

Pocket listings are legal and a home owner can request their home to be a pocket listing, but is it in your best interest as a seller? The decision is totally up to you and what you think is in your best interest, but there are things you may want to think about before asking to have your home put in the “pocket”.

Your home will be restricted from the “public” access of the entire local multiple listing service. Your home may be unknown to other real estate companies and agents. If a potential buyer would search for your home on the internet (over 90% home searches start on the internet), your home may not show up unless it is on your agent’s website. In other words, not all willing and able buyers will see that your home is now on the market. You may not get the best possible price for you home, if it is not publically viewed.

However, according to CNNMoney, many high-end sellers would rather have more privacy when their home is on the market. And with the tight supply of home inventory, initial listings could create a frenzy of craziness.

There may be another reason you may want to list your home as a pocket listing - Test the real estate market because you may not REALLY be ready to sell.

Though the National Association of REALTORS® do not have an official policy on pocket listings, many of the legal and ethical rules and regulations are in place to protect the public.

If you’d like more information whether to have your home as a pocket listing or regular listing, call me at 760-567-7282 and we can discuss all the scenarios that are in your best interest in selling your home.
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