Buyers’ Corner: 3 Well-Meaning Pieces of Advice You May Even Believe!

Home For Sale Real Estate Sign and Beautiful New House.Once your friends and family know you are looking for home to buy you may hear,” let me give you some advice.” They’ve been there, done that and watch copious amounts of House Hunters on HGTV. However, their well-meaning opinions and words of ‘wisdom’ may lead you down the wrong paths.

“You should remove contingencies to make your offer stronger.”

In a competitive market it’s tempting to write an offer with no contingencies. I beg you to reconsider. These safeguards are part of the contract for a reason. There is an inspection contingency: to save you from buying a mold-ridden, termite infested property. Appraisal contingency? Understand that if the lender’s appraisal comes back less than your offer price, you are obligated to buy the home and come up with the difference by closing. How much do you like to gamble? Lastly, the loan contingency protects you in case the lender cannot approve your loan. Remember, contingencies are designed to protect you from utter catastrophe.

“Make a low-ball offer and negotiate up from there.”

Again, it’s still a sellers’ market, and often they receive more than one contract to consider. This can start the negotiations off on the wrong foot, offending the seller, or worse, driving them to reject your offer outright. Not all seller’s counter the offers they receive, often taking the highest and the best one. Serious buyers and sellers know what a home is worth.

“Don’t bother with a home inspections.”

Sure, you can save a few bucks by not doing your due diligence, after all the house looks really clean and well cared for. Saving a few bucks upfront could cost you thousands down the road. Some folks only get a termite company to do a pest inspection. All they are looking for is termite and dry-rot. Consider getting a home, chimney, sewer lateral and possibly pool inspection. You will uncover issues and know if/how you wish to move forward.

“Just use the listing agent to represent you.”

Called dual-agency, it’s ethical, legal and often done. You think it will give you an edge and cuts down the number of cooks in the kitchen. You think your offer will rise to the top of the pile. Why? The listing agent represents the seller. They have a fiduciary duty to keep the sellers’ best interests at heart. It’s the seller who chooses which offer they want to accept, not the agent. Using the listing agent to write your offer and represent you is like having the same attorney representing both sides of the case.

 

JUMP into the Real Estate Market

June is the month for graduations, Father’s Day and the first days of summer and also a great time to jump into the real estate market! mp into real estate. Jump into Real Estate

June is the busiest home-selling and home-buying month in our area. With the warmer weather, more daylight, and the impetus to get into a new house before the next school begins, buyers are more likely to shop during this time of year. Summer is also the most convenient time for the majority of people to move. Sellers’ who are looking to stay in the area have a greater chance of finding their next home with the most inventory listed now.

There are pros and cons to the busiest selling month.

With more houses on the market, buyers can afford a bigger wish list. If your home needs repairs, buyer might simply pass it by for the one down the street. Add in the fact most buyers aren’t shopping under pressure and you have a pool of selective shoppers.

Bidding wars are a headache for buyers but a big plus for sellers. Multiple offers mean more money in a seller’s pocket. It also usually means buyers are less likely to make repair requests or other demands. Lastly, interest rates remain extremely low which continues to keep the buyers out in force and actively house-hunting.

Homebuyer 3 Day Review Period

Many home buyers are asking “when we can close” after their loan docs are drawn, so I want to explain TRID’s homebuyer 3 day review period.  After the lender draws loan documents, they prepare a Closing Disclosure (CD) that they email to the borrower/homebuyer.  The borrower needs to “acknowledge” the CD email ASAP.  Once the borrower acknowledges the CD, he/she can sign loan docs in 3 business days (includes Saturdays).

Homebuyers 3 day review period

Homebuyer 3 day review period

 Hence, if the CD is acknowledged on a Thursday, the borrower can sign loan docs on the following Monday.  Friday is Day #1; Saturday is Day #2. Monday is Day #3 (borrower can sign on Day #3).

ACKNOWLEDGED

CAN SIGN

Monday

Thursday

Tuesday

Friday

Wednesday

Saturday

Thursday

Monday

Friday

Tuesday

Note: Federal Holidays do not count as business days. We can usually fund a loan the day after the borrower signs. BTW-TRID stands for the TILA/RESPA Integrated Disclosure rule, also known as TRID. Since this rule is designed to help borrowers understand the terms of their home financing transaction, there is a trend to start referring to this rule as the Know Before You Owe rule instead of TRID. The Know Before You Owe rule took effect October 3, 2015.

I work closely with a homebuyer’s lender as a team, walking through the escrow process from beginning to end. You do want someone keeping you informed and guiding you through the complex real estate transaction, don’t you? When you are ready to buy a home…let’s talk!

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Heather Farms Townhome for Sale

Location, Location! Popular Heather Farms Townhome for Sale.

Heather Farms Townhome for Sale

Heather Farms Townhome for Sale

Three Bedroom and Two and a half Bathroom tri-level home. Master Suite is open to Living Room. Soaring Ceilings in Living Room and Master Bedroom. Each bedroom boasts it’s own deck. Eat-In Kitchen with White Cabinets, and Family Room/TV Area. Separate Formal Dining Space.
Close to Heather Farms Park with it’s Dog Park, Equestrian Center, Playing Fields and Play Ground. Minutes to bike path, John Muir Hospital, Shopping and Dining. Convenient access to freeway, BART and all that Downtown Walnut Creek has to offer! Fresh Paint, new carpet, bright and ready for you. Enjoy entertaining and relaxing in your backyard spa. Property backs to Diablo Hills Golf Course. Homeowners Association monthly dues of $279. includes: pools, tennis courts, greenbelt and Club House.
See: 365Kinross.View24Hours.com

Please contact Dayna Wilson – Walnut Creek Listing Specialist with Keller Williams Realty for further details.

Buyer Delivers Baby, Dayna Delivers a Home!

Just Sold: Buyer Delivers Baby, Dayna Delivers a Home!

Buyer Delivers Baby, Dayna Delivers a Home!

Buyers Deliver Baby, Dayna Delivers a Home!

I met this lovely couple last spring. After an initial consult, I understood what they wanted in their first home, and they were open to a number of cities, so we looked at homes from Walnut Creek, Orinda and even the Berkeley hills. They kept the faith and knew that their perfect home was out there waiting.

They took a 5 month break for the birth of their beautiful son. Once they were ready to look again, we found the home of their dreams right away! Many of my clients know me as a Seniors Real Estate Specialist, but many of my clients are first-time home buyers, as well.

First time home buyers rely on Dayna Wilson

First time home buyers rely on Dayna Wilson

Walnut Creek Home for Sale- 40 Elmwood Ct

With some TLC and visions this amazing property can be your forever home!

Walnut Creek Home for Sale- 40 Elmwood Ct

Walnut Creek Home for Sale- 40 Elmwood Ct

This is your chance to own 3/4 acre in unincorporated Walnut Creek. The lot is at the end of a cul-du-sac with no rear neighbors; backs to the canal.

40 Elmwood Ct- Classic Living

Living Room boasts soaring ceiling, fireplace

Five bedrooms and 2 full bathrooms offer plenty of room to grow. Family room has beautiful hardwood floor with a gas fireplace. The centerpiece of the huge backyard is the pool. There is plenty of room to park all your ‘toys’ and R/V through the double gate.

Sparkling Pool for our hot summer weather

Sparkling Pool for our hot summer weather

Walking distance to Pleasant Hill BART. 3 blocks to Highway 680. Top-rated schools including Las Lomas High.

40 Elmwood Ct Website: http://40elmwoodct.View24Hours.com

Home Buyers Using Gift Funds

We are seeing buyers using gift funds more often than ever lately. This is a reminder that it is much easier if borrowers wait until they are in escrow before receiving gift funds. The funds can then be deposited by the donor or “gifter” directly into escrow.

Gift funds helping first time home buyers

Gift funds helping first time home buyers

For conventional loans, when gift funds are deposited into a borrower’s bank account, your lender will need both a gift letter AND a copy of the donor’s bank statement (proof of funds). When gift funds are deposited directly into escrow, a gift letter is the only item needed (no bank statement).

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Market is Moving Fast…

Trying to keep up with my Home Sellers & Buyers…the market is moving fast!

NEW Walnut Creek Listing in Escrow…never made it to the market!
Walnut Creek Home Buyers in contract. Home fore sale never made it to the weekend open house, much less the broker tour.

You need a Walnut Creek Realtor who is fast on her feet. Good thing I got new running shoes! I’m gonna need ’em!

You need a Realtor that is fast on her feet

You need a Realtor that is fast on her feet

Home Buyers’ Experience with Realtor Dayna

My latest Walnut Creek, Ca. home buyers recently shared…

You never forget your 1st home!

You never forget your 1st home!


“I would highly recommend Dayna Wilson to anyone searching for a home in the East Bay. Dayna is serious, competent and very professional. She is also a very friendly Realtor and it has been a true pleasure to work with her. She is always positive and gave us great support all along our home research. If you are looking for an outstanding Realtor you cannot be in better hands.”

I look forward to learning how I can help you realize the “American Dream’ of Home Ownership in Contra Costa County and it’s beautiful cities and towns.

Ready to Buy a Home? Close in 14 days!

Ready to Buy a House in Contra Costa County? Rates improved again thanks to more troubles in Europe (Greece, Germany and the Euro). 30 Year Fixed Loan at 3.625%* (APR = 3.86%)

Buyers are often encouraged to put down 20% or more not just to avoid mortgage insurance,(PMI) but also to make their offers much stronger and to allow us to close in 14 days. Yup, that’s right…14 days! Think that makes your offer stronger and more competitive? You bet it does, if the seller is looking for a fast close.

Buyers are often reluctant to deplete their liquidity, borrow from 401ks, or access gift funds to come up with 20% down payments. But, it’s important for buyers to remember that they can get lines of credit immediately after close up to 90% of the purchase price, in most cases.

The stars are aligned…let’s take the journey together!

Interest Rates Fell Again...what are you waiting for?

Interest Rates Fell Again…what are you waiting for?

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