Are you concerned about how the current coronavirus pandemic will impact your tenant’s ability to pay rent? If you are like most rental owners, the answer is a resounding “yes”. Why wait to see how it all plays out, sell your Bay Area rental now, cash out and save yourself the stress.
While no one knows the extend, I think we can all agree that the coronavirus will have a negative impact on our economy, we are already seeing record high numbers of people filling for unemployment benefits. When people lose their job, it becomes more challenging to pay rent, it’s as simple as that.
Our government and the Federal Reserve are doing everything they can to step in and help but there is no way of knowing how effective the measures they put in place will be. It has been stated federally backed mortgages will be eligible for payment deferment but once again we are unclear how this will work.
The last thing any landlord wants is to have to pay a mortgage on a property that they are not collecting any rent on. Given the uncertainty surrounding our current situation that is a more realistic possibility than normal.
If you would prefer not to wait and see how everything plays out, give us a call today to get your no obligation, cash offer. We buy houses throughout the Bay Area and will take possession with your tenants in place.
Have you been affected by the recent Kincade, Getty our numerous other fires wreaking havoc up and down California? Napa, Sonoma, Contra Costa, Solano, Los Angeles and Orange counties have all recently been impacted by fire and smoke damage
Many people just like you lost their home in a fire and are trying to decide how to move forward. Should you stay and rebuild or collect the money you can and move somewhere else? The option that is best for you and your family will depend on multiple factors but one of the biggest is your property insurance situation. Let’s go through a couple different scenarios:
No Insurance: You have lived in your house for many years, the mortgage is paid off and you decided to stop paying for home insurance. Given this, there will be no financial assistance coming your way, you are responsible for covering the cost to repair/rebuild your house. Depending on the extent of the damage this may not be financially possible for you. There is value in the land you own though, you can sell your Bay Area or Southern California burned lot for cash and use that to purchase your next home.
Under Insured: You have property insurance so you assumed that the cost to repair/rebuild your house would be covered at no additional cost to you however while speaking with the claim adjuster you were informed that the amount of coverage you have is no longer sufficient to pay for all the work needed and that you are responsible for contributing the rest. Over the years as property values have gone up and inflation has occurred, your insurance coverage amounts should have increased as well, but no one told you that you needed to do that. It is a very sobering realization, one that unfortunately too many home owners are experiencing. Proud Start can help, you collect your insurance money then we will purchase your Bay Area or Los Angeles fire damaged house. You can take both checks and go purchase your new home.
This disaster was truly that, causing massive destruction and loss. The damage has been done, the question is how will you move forward? If you are educated on your options, it is possible you can come out of this in an even better position. Give us a call to see how we can help with your fire damaged house.
Anyone who is looking to sell their Bay Area home fast and for top dollar should consider the benefits of home staging. The following article will give you the rundown on this valuable selling strategy.
Home staging is the art of displaying your home so that it will attract buyers. The idea is to highlight the property’s positive features by utilizing furniture and decorations; keeping it easy on the eyes so that buyers are able to visualize your property as their new home. Staging will make the home stand out from competition and increase the number of quality offers you receive. Buyers are often influenced by their emotions, they want to feel comfortable and at ease when choosing a home. A properly staged home will draw attention to the good qualities and will minimize imperfections. The goal is to create a soothing environment so that buyers will be able to imagine that they already live there.
Staged homes start from the outside. Curb appeal is essential because it’s the first thing they see, the first opportunity to make an impression. The grass and bushes must be neat and trimmed. Sidewalk, driveway and roof should be free of leaves, dirt and mildew. Windows gutters and decks should be washed.
The inside of a property should be transformed from a personalized home to one that will appeal to a wide range of buyers. If you are still living in the house then de-cluttering is a must. A staged home draws attention to the features of a home rather than all of your stuff; it’s hard for a potential buyer to see themselves living in the house when pictures of your kids are all over.
Arranging furniture and décor to create a flow of traffic is key; you want to guide buyers through the house. Simple decorations such as plants, drapes, pillows and throws are great accessories. Lighting makes a big difference as well; keeping windows open and lights on makes the home feel more spacious and vibrant. Neutral paint and carpet colors are always preferred; it might be worth your time to paint over that hot pink your daughter just had to have in her room.
Most home stagers will provide you with a free consultation, the cost of their services varies a lot based on the size of your house and how upscale things need to be. The Stager will come in and do a walkthrough, room by room taking notes of what needs to be done to showcase the home. The Stager should be able to utilize some of your furniture to save money.
Now that you understand the benefits of staging your house as well as what the process consists of, if it seems like doing any of this would require too much time, money or energy please give us a call, we would be happy to discuss your current situation and help you develop a plan to get your house sold now.
Has your Bay Area house been damaged by a fire or have any other sort of significant issue? Proud Start, LLC is your local Homebuyer and can make you a fair cash offer. We won’t ask you to make any repairs and can close when you want. The following is a great example of a property we recently purchased where the seller was in a situation just like you.
In July of last year, we were contacted about a house in Sacramento that had gone through extensive fire damage. It was tagged by the city as uninhabitable. The owner of the property was just wrapping things up with his insurance and rather than use the money to rehabilitate the property he wanted to keep the insurance payout and sell the property as is. He did not want to deal with a long and uncertain remodel process.
Based on what the seller was looking to do, we quickly set up an appointment to view the property and determine what was needed to repair all the damage and complete the remodel. Our Contractor partner, Exact Property Solutions, inspected everything to develop a scope of work and cost estimate. Once we had this information, we were able to make the seller a fair offer which he accepted. We closed once he had completed everything with his insurance company. Between the money received from us and the insurance payout the seller was very happy and accomplished the goal of not having to deal with a stressful remodel.
Once we took ownership, Exact Property Solutions got to work, in just a little over two months they had completely transformed the property, turning a condemned house into a safe and remodeled home ready for a new family.
Now a days the phrase win-win situation is cliché, but in this case, it is completely appropriate. The seller of the property was able to cash out and avoid any issues, the City of Sacramento and the local residents didn’t have to worry about a fire damaged house sitting vacant and creating a place dangerous place for illegal activity.
If the case study above sounds like your situation or someone you know, give us a call to learn more about how we can assist.
As we move through life our housing needs change, a couple in their 30’s with three kids at home requires a different amount of space than a couple in their 60’s with three children who live on their own. Maintaining a large house when you don’t have the need for the additional space can be a financial burden and drain on your time. Let’s go over some of the many benefits of selling your Bay Area house and downsizing to something smaller.
Cash in on your Equity
If you have raised your family in the same home then you have owned it for many years, the value of the property has grown since you purchased it. In many cases it would shock you to learn the amount of equity you have sitting in your house. The concept of equity is amazing but it isn’t real until you sell and get the actual payoff. As we all know from the last real estate crash in 2008 equity can disappear over night. Don’t get hit by another downturn, sell your house now and cash out on the equity you have spent years building.
The bigger your house is the harder it is to maintain it, it’s as simple as that. If you are doing the work yourself a big house takes up more time, if you are hiring others it cost more money. Selling your Bay Area House now and downsizing to a smaller one or condo will greatly reduce the amount of time and money you spend on keeping your property up. You have worked too hard to get to this stage in life, don’t spend your golden years doing choirs you do not enjoy.
Lower your Mortgage Payment
If you are selling a large home and buying something smaller the price will likely be less so your monthly payment will be lower. Having to spend less money on your mortgage allows you to spend more on other areas. Why be house rich and cash pour when most of that space is going unused and collecting dust?
You have lived in your home for a long time, raised your family there, it is full of cherished memories, but you have entered a new stage of life. It’s time to move forward, that home that was the foundation if your family is not an anchor holding you back from the fun and exciting times ahead. Give us a call today to see how we can help. It’s time your Old family home becomes someone else’s new family home.
Has your Bay Area house been sitting on the market longer than expected? Are you starting to get worried because you need to sell? You are not alone. Over the past few months the Bay Area housing market has softened some. In most counties, houses are taking longer to sell and going for slightly less. There are many contributing factors, everything from rising interest rates to kids going back to school. For you, the specific reasons aren’t important, all you want to do is sell your house ASAP. Here are a few things to consider in order get your house sold quickly.
You can either hire a professional staging company or use your current furniture. While this may seem like a small thing, it actually makes a big difference on how your house will impact potential buyers as they walk through it. A well-done staging job takes all the guess work away from buyers, they don’t need to try to imagine what the house will look like once they move in since they can actually see it. The old saying goes, you only get one chance to make a first impression. If you want to make the best first impression possible then you should consider staging.
Similar to the tip on staging, cleaning up the front of your house is huge. As buyers are driving up to your house for the first time, you want them to be impressed by the outside and eager to see what’s waiting inside. Simple things like washing down the driveway, trimming the bushes and cutting the grass can dramatically change the look of your house. If you want to go a little further consider painting the front of the house or at least the trim and upgrade your landscaping.
Vacate the House
While it is not uncommon for a seller to still live in their house while trying to sell it or even request time after close of escrow to vacate the house, it does add another factor to consider for potential buyers. If you have already moved out buyers don’t have to worry about when they will actually be able to take possession of their new house. Additionally, I vacate house is a lot easier for agents to show since they do not have to set up an appointment. The more available the house is, the more showings it will get which in turn means offers.
Consider an Alternative Sales Strategy
Listing your house for sale with a real estate agent is the most common way to sell a house, but it may not be the best option for you. If you’re looking to get your Bay Area house sold fast and avoid the stress of waiting for an offer you might want to consider working directly with a buying company. Proud Start, LLC is and experienced and trusted Bay Area Home Buyer. Give us a call to learn about all the benefits of working directly with your buyer. We will make you a fast cash offer and can close in a week.
155 Sharene Ln #301
Walnut Creek, CA 94596
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