Merced, CA

It's not every day that I can say that sold home was the best deal in Merced in the past year, let alone 2 years. Today is that day! My clients were looking to purchase a home with their son who goes to UC Merced. After looking with another agent and making a series of offers that went nowhere he came to me and asked for brutal honesty. He asked me what I was seeing in the market and what it would take to purchase a home less than $80,000. Fortunately the answers he was looking for is exactly what we practice as part of our "You're The Focus" real estate services.

When it comes to real estate and working with our clients it's all about setting expectations. We don't want our clients to fail and with this in mind we set buyer and seller expectations from the start of our relationship. Sure sometimes the news won't be what a particular buyer or seller wants to hear but in the end if we save them time, money and frustration it makes it more than worth it. We value our clients and continue to service their real estate needs beyond the purchase or sale of their home. How we prefer to work is based on referral and so we provide the best service possible for our clients and they appreciate what we do for them and of course we appreciate them. We have a client appreciation program where we send out information monthly and provide them with valuable resources from vendors to fix their home to real estate, safety, and other topical information that they can use or pass on to friends and family to use in the future.

Back to the home I just sold. It was a 3 bedroom, 2 bath home with 2,232 square feet, a fixer upper to the tune of $30,000 if not slightly more but the sold price in the end was $57,100 which is $25.58 per square foot. This home was the lowest to sell since June of 2009 according to CRMLS sales report (Multiple Listing Service). It was not easy to make this happen. At any point the bank could have rejected our offers and our request for repairs that showed bids from vendors, pest inspection reports and the home inspection report indicating $30,000 plus in repairs. We went through 6 counters, a multiple counter highest/best situation, several inspections, and bids from vendors and the request for repairs where we highlighted everything needed to make the home habitable. In the final request we asked for a lower price to end at the $57,100 price.

All along it was constant communication, setting up all the vendor reports and making sure my buyers and the listing agent where up to date with the information. In the end my clients were ecstatic. Some may say Scott there's not much money in the $57,100 sale. I would say well luckily my focus is on helping my clients and however that looks like as long as I've done a great job for them and exceeded their expectations then I'm happy!

Rates continue to be historically low so it’s a great time to buy. The tricky part is that short sales remain high and although the short sale success rate has been going up we are seeing some long waits of 60 days plus just for a decision to a buyer’s offer. In addition some sellers are making it difficult for the listing agent to provide exposure of the home. Once listed the goal of any agent and seller is to receive offers at the highest price possible. However many sellers are limiting access to the house to restricted days or times. This past week I made several calls setting up appointments but often was told that Seller X didn’t return their call or that Seller X was only available to show it on Sunday between 5 and 7pm. An agents job is to get the home sold. It still amazes me that agents will take listings and not do everything in their power to get the home sold for their seller. Yes there are difficult sellers out there but it’s up to agents to work with difficult people and make sure the home gains the exposure needed.

In terms of the real estate market right now we see it as a mixture of good and not so good news. We say mixture for we see limited inventory in certain price ranges. With limited inventory it’s more difficult for buyers to negotiate over the price and other terms of the contract. In higher price ranges such as greater than $250,000 buyers have more leeway yet some sellers are reluctant to lower the prices as they realize how much equity was lost during those inflated years. Writing a solid offer based on comparables and with some seller incentives will go a long way in giving you the best chance at owning a coveted home.

We also provide selling and buying services to many cities surrounding these areas. Call or email us today for information.

The You’re The Focus team will help you navigate the market representing your best interests throughout the process. Contact us today and watch us work with and for you. Real estate services where you’re the focus!

FannieMae HomePath Renovation Loan-Merced, California


FannieMae's product which gives you Money to Buy + Money to Fix it up... ALL IN ONE LOAN!

Some Simple Highlights:

• Purchase Price + Renovations X 5% down payment
• $35,000.00 in Maximum Renovation amount
• NO MORTGAGE INSURANCE!
• EASY qualifications
• Gifts Allowed
• Owner Occupied / Second Home / Investor

I specialize in these loans and can originate them in ALL 50 States!!! :) ... and I'm located right here in Maryland. :)

Please call me Directly!

Find a home in Stockton, Modesto & Merced

Our central California home search sites at http://www.stockton-home-search.info/ & http://www.central-california-homes-for-sale.info/

Clients want home search tools and we offer access to the local MLS at no charge.

Call us if we can help...or to view these homes.

http://www.sacramento-home-search.com/

We have entered a very popular time of the year for moving as school will soon end and many sellers and buyers consider relocating or upgrading even downsizing. It's a great time to purchase a home as interest rates remain low (currently 4.75% FHA financing on qualified buyers) and home prices in Merced and Atwater remain affordable. A snap shot into our market reveals that currently we have approximately 352 homes listed for sale in Merced (277) and Atwater (75). Area inventory is around 2 ½ months and homes priced well are receiving offers during the first few days. For buyers looking for a deal this means moving fast usually the same day a home is listed because if you wait you'll find multiple offers have been made on the property. Another challenge buyer's face is investors paying cash for homes. Cash offers are very attractive to banks as the home can close in 10 days instead of 30 or 45 days. Cash offers also mean no loan or appraisal is necessary to purchase the home. There is less risk of the home falling out of escrow with cash offers. Despite these challenges the good news is that we have homes for buyers!

There are programs available for homebuyers that include 0% down on properties. Plus on some bank owned homes (REO) there is a "first look" program available where during the first 7 or 10 days only home occupied offers will be accepted (no investors).

With the Median price in Merced for the homes currently listed at $135,900 it's a great time to be searching for a home. Merced currently has more than 75 homes listed under $100,000. New inventory is listed daily and with many sellers looking to move on during the summer months we are hopeful to see even more inventory. Short sales are not taking as long to go through (average is more toward 60 days down from the old 4 month plus time frame).

Do you need to sell your home? We have buyers looking to purchase homes throughout the Merced and Atwater area. As part of the London Properties family there are connections to plenty of first time homebuyers and investors looking for homes. Even if you're behind on payments or if your home is worth less than what you currently owe we can help you move on! We walk you through the short sale process making things as easy as possible. Have us provide you with a short sale information packet to help you understand the options and foreclosure alternatives.