Dear Friends...

Dear Friends,

This time of year is wonderful for many reasons.  First, we should look back on some of the very trying times including our current economy, the recent wind storm, or the Station Fires. These incidents make us appreciate our homes and what we continue to enjoy when the day is done.  Also, It should cause each of us to reflect on the many blessings we have and all the special people that make our lives better.  This year, I am thankful for all the wonderful trades people that assisted my clients in making repairs or helping to get their homes ready for sale. Also, for the significant number of new clients and past clients who allowed me to assist them in buying or selling their properties. They put their trust in me and I value that.

My goal for 2012 is to have my most productive year yet and to continue to satisfy the dreams of my existing clients and new clients for the new year.  I would love to be your Real Estate Consultant for life.  To that end, please call me if you have a loan question, are considering refinancing, need trades people to do work at your property, or want to buy or sell.

I want to especially thank the following people for making this year rewarding, special and filled with gratitude.

Ms. Blaine-Haines Canyon, Tujunga                             Current Electric-Mike Delaney

Mr. & Mrs. Doyle-McConnell, L.A.                                Siftar Home Inspections-Paul Siftar

Mr. & Mrs. Stanton-El Tovar, Glendale                          InsideOut Window Washing-Jim Holder

Mr. & Mrs. Fisher-Mesa Vista, La Canada                     BRS Painting-David Lee

Mr. & Mrs. Steuben-Timberlake, La Crescenta              Valley General Contracting-Shawn Eshback

Mr. Trader-San Pasqual, Pasadena                              GlenPacific Floors-Tony Martinez                 

Ms. Frost-Old Mill, Pasadena                                       Landscaping-Paco Ortiz

Mr. and Mrs. Niero-Harriman, L.A.                                Staging-Teresa Romeu

Mr. & Mrs. Green-El Vago, La Canada                          Noteworthy Movers-Mark

Mr. & Mrs. Sanders-Saint Katherine, La Canada            Appraiser-Jim Ransford

Mr. & Mrs. Liss-Encinas, La Canada                        

Ms. Clark-Stocker, Glendale

Mr. & Mrs. Gonzales-Westminster, Alhambra

Mr. Faucette & Ms. Stallard-Henrietta, La Crescenta

Mr. & Mrs. Reichley-Galaxy Heights, La Canada

Mr. & Mrs. Diaz Harriett, Altadena

Ms. Lopez, Mr. Vicchi-Belgrave, L.A.
Mr. Coldwell-Eaglepoint, Glendale

I hope your holidays are full of wonderful surprises.  

Warm Holiday Wishes,

Jennie Manders

Will the FHA Become The Go-To Financing Option For Borrowers In High-Cost Areas?

Higher loan limits have transformed the FHA into a key financing source.  For more information on this check out the LA Times story using the above link.

Spotlight: Angel Flight West

 A cause close to my heart is Angel Flight West.  This nonprofit, volunteer-driven organization arranges free, non-emergency air transportation for people who need to access to health care and other critical services. Angel Flight West's volunteer pilots donate their time, talent, airplanes and fuel to make it happen.

My husband, Alan, joined Angel Flight West as a volunteer pilot in 1993 and went on to serve on the board for six years and as the Southern California Wing Leader for four years. I have also served on the board.  Alan is currently Angel Flight West's executive director.

Angel Flight West provides more than 4,000 flights each year in California and 13 other Western states. Besides flights to access health care, AFW arranges transportation for other needs as well -- individuals and families escaping domestic violence; injured military personnel taking part in therapeutic programs; prospective parents hoping to adopt a child; and flying youngsters and teens to special needs camps like those for burn survivors or kids with cancer.

And it's all free. Since the organization started in 1983, AFW has completed more than 50,000 flights -- flights for passengers like Michelle, who was a cancer patient. In a letter to the organization, she wrote, "

“Angel Flight West has helped to give me the one thing I’ve learned to cherish the most: time.  Time with friends, time to fight my disease, and most importantly, time with my three beautiful daughters.  One more hug, one more kiss, one more I love you Mommy.  I embrace each moment with appreciation and love in my heart for the wonderful people at Angel Flight West who helped give me . . . a little more time!"

For more information, please visit http://www.angelflightwest.org/

International Home Buying Activity in 2011

            Realtor.com the official website of the National Association of Realtors will soon go global.  They will feature listings from all over the world, translations for all listings in eight languages and currency and measurement conversion services. 

            According to NAR’s 2011 Profile of International Home Buying Activity, international buyers were responsible for 82 billion worth of purchases of US residential real estate, up from 66 billion the previous year.  Realtor.com president Errol Samuelson attributes it to the strength of the dollar and the value and desirability of US real estate.  Also homes in the US are viewed as secure long term investments as rentals or for the buyers own use. 

            Last year 62% of the foreign buyers paid cash, versus 8% of domestic buyers.   This makes the foreign transactions more streamlined and even more desirable, especially when so many domestic buyers are struggling at times to get financing.

            Realtor.com receives 900,000 hits from non US buyers each month and of the 82 billion in sales last year, 70 countries accounted for those sales.  This also means that there is a huge market sitting there for realtors, with 4-5 billion in commissions in the last 12 months alone.

I am currently updating my website in order to have a page dedicated to overseas buyers and ex-pats returning to the states.  Do you have any thoughts on information I should include?  What would you be looking for in a Realtor if buying in another country?

WHAT SHOULD YOU REALLY LOOK FOR IN YOUR NEXT REALTOR?

Here are reasons we heard from clients for selecting their last Realtor:

They sent me a calendar every year; he was my Uncle; the Realtor said they would reduce their fee; their kids went to school with mine; I met them at an open house and they seemed nice.

WHAT QUALITIES SHOULD THE REALTOR REALLY HAVE?

You are hiring an expert who will handle your largest asset. This Realtor should have qualities that will allow you to achieve your goals. The top goals are:  to minimize the work to get the home sold; to sell the home quickly; and, to sell for the most money in today’s market.

YEARS OF EXPERIENCE-This usually determines the agent’s knowledge of the real estate process and how to sell in different markets. This is a different market!

CREDENTIALS-what kind do they have? In any field, there is specialization. This shows an agent’s areas of special interest and additional training that will help you achieve a better result.

UNIQUE SELLING PLAN-In today’s market unique efforts must be made to sell homes quickly for top dollar. A defined plan that is special to this market is absolutely necessary.

RESULTS-The average Realtor sells 4 homes. You are not looking for an AVERAGE result. Your Realtor should give you their annual sales with the days it took to sell their homes, list price to sales price and references you can call to discuss their client’s happiness with the result.

Why Should You Be Loyal to Your Realtor?

Loyalty fosters better relationships.  A buyer can expect the maximum level of service from a Realtor who knows the byer is loyal.  A loyal buyer would be more inclined to hear about the “great deal” as soon as, or before, it hits the marketplace.  An aggressive Realtor will even do “targeted marketing” to individual homes in neighborhoods you are interested in to identify homes that may be going on the market.  Why?  Because there is much more motivation from the Realtor who knows that their efforts in finding you a home will result in a successful sale.  Additionally, it makes sense to work with only one Realtor because it saves you time and there is less chance for duplicated efforts.

Call the Jennie Manders Home Team and find out why they have earned the loyalty of their many clients.

WHY FIX IT UP IF YOU’RE JUST GOING TO SELL IT?

Would you put your car up for sale without a thorough wash and detail? Most homeowners mistakenly think buyers will be able to visualize themselves living in their home with their stuff. WRONG! 90% of buyers cannot see beyond what is there.

A move in condition home has a greater value to buyers and will sell at a higher price. “Today’s Market” and “HomeGain” (real estate research companies) say that homes that have been cleaned up, painted and updated allow the seller to realize a 100% or more return on the cost of any of those improvements. Guess which improvement is one of the tops in returning 586% of your investment?  STAGING

Today buyers are reluctant to purchase a neglected property because they must do costly repairs immediately.  Also, they do not have financial resources like equity lines any more to use to do this.

So if 94% of prepped/staged homes sell on average in 29 days or less when the average days on market for a home to sell is 90 and these homes sell on average for 7% more, what should you do?

Call the Jennie Manders Home Team to hear about the comprehensive program we have in place to make repairs, improvements and do staging cost effectively and without stress.

Top Markets for Real Estate Agents

The state of the housing market may seem glum to some out there.  However, there actually are real estate professionals working hard and doing a lot of real estate business.  On a national level, some real estate markets are seeing rising prices and strong local economies which have brought a high dollar volume in home sales in these areas according to Andrea V. Brambila of Inman News.   Brambila and Inman News studied many factors including total sales, median sales price, and real estate licensee data in metro areas across the U.S and came up with a  “top 10” list of areas where real estate professionals are succeeding in the highest number of sales and in some cases rising home values.  Of the top cities, nearly half are in the West and 9 of 10 are projected to see double digit population growth through the next 9 years.

So where is the real estate market taking off?  The top metro areas according to Inman News from number one area to 10 are: Seattle-Bellevue-Everett, Wash.; Fort Worth-Arlington, Texas; Denver-Aurora-Broomfield, Colo.; Salt Lake City; San Antonio-New Braunfels, Texas; Pittsburgh; Dallas-Plano-Irving, Texas; Kansas City Mo.-Kan.; Austin-Round Rock-San Marcos, Texas; and Nashville-Davidson--Murfreesboro--Franklin, Tenn.

The Top Improvements to Make Prior to Putting Your Home On the Market

How do you capture the attention of buyers who are looking at many homes and you want your home to be the “standout”, when they decide which home they want to buy? What features will buyers look at in your home that will differentiate it from the other homes they see?

Based on recent research and my 28 years of real estate experience, the top 4 improvements you can make to your home before selling to ensure that it is shown at its best, plus Guarantee that your home will sell faster and at a higher price are:

1. De-clutter and repurpose furniture

2. Re-landscaping the front yard including planting colorful flowers and putting bark in flower beds

3. Painting the exterior trim and interior

4. Staging the home

A staged home sells 80% more quickly than a non-staged home and for 7% more*.  These improvements are cost effective solutions that make your home “sale ready”. We have a team of experts who can cost effectively, quickly, and in a stress-free manner complete these items for you. We coordinate the entire process.

*Stats from Today’s Market

Senior Tax Benefits

Are you over 55 and thinking about moving, but you’re afraid you will lose your LOW property tax rate? You may be able to transfer your current low rate to your next home. Under Proposition 90, if you are over 55 years of age and purchase a home of equal or lesser value in one of 7 counties that reciprocate, you may be able to take advantage of this wonderful opportunity.

Call me today to find out if you qualify. I can show you the potential value of your home in today’s market, and help you find your new home, too.

MY TEAM AND I WILL HELP MAKE THIS AN EASY TRANSITION FOR YOU.  

ForSalebyOwner.com Founder Hires a Broker!

According to Daily Real Estate News, the founder and former CEO of ForSalebyOwner.com recently listed and tried to sell his New York condo on his own. After six months of advertising his home through classified ads and for sale by owner sites he gave up and hired broker Jesse Buckler. Buckler immediately advised Sambrotto on a price change to help attract the right type of buyers for his condo. Sambrotto’s decision to hire a professional paid off. It led to multiple offers and a purchase price $150,000 over his original asking price! The Wall Street Journal has reported the listing sold for $2.15 million and that Sambrotto paid a 6% commission. Well worth it!

Why Stage Your Home?

Why Stage Your Home?

Because homes that are staged sell 80% faster, and for 7% more than non-staged homes*.

Most buyers do not have the imagination to see beyond what the home looks like when they first see it, so they cannot visualize the home de-cluttered, painted in different colors, with different furnishings, etc. Major builders have conducted studies and confirmed that staged homes sell faster and for more money. That is why they spend the time and money to create a model home with the most desirable paint colors, inviting landscaping, and furniture staged to allow you to visualize living there.

w    If staged homes sell faster…

w    If staged homes sell for more money…

w    If staged homes sell before others…

Shouldn’t your home be staged, too? Plus shouldn’t you use the Realtor who has been staging homes for the last 5 years allowing her sellers to get more money and sell 80% faster than other homes?

We have a cost-effective solution and system to get your home ready in 15 days and we make the process stress-free!

Statistics from Today’s Market and HomeGain

Actual staged listings.

Weekly Neighborhood Market Reports Available

Dilbeck Real Estate now offers reports to help track neighborhood market conditions.  These reports can be obtained by calling or emailing The Jennie Manders Home Team.  Here is more information from Dilbeck:

National and County-wide news sources are slow and do not accurately represent what is happening in our local market.  It's important to stay informed about conditions impacting your local neighborhood.
The Dilbeck Real Estate weekly reports track neighborhood inventory, median price, price per square foot, median sales price, average days on market and more. The market reports are updated weekly, and are a service we provide to you, so that you can be "ahead of the curve" as to the direction in which the housing market is heading in 2011.

The Home Team is happy to provide you with the Market Reports of your choice.  The link above is the market report for the week of July 25th for the Rossmoyne area of Glendale.  If you would like to receive a specific area report, please contact me at Jennie@JennieManders.com or 818.949.7830.

WHAT HAPPENS IF THE TAX BENEFITS GO AWAY FOR HOME OWNERSHIP?

When the economy starts shifting, the government begins looking for ways to cut costs or “save money”. The tax benefits related to home ownership have periodically come under scrutiny as a way for the government to retain more money by not allowing certain credits, allowances or write-offs.   

In December 2010, the President’s National Commission on Fiscal Responsibility and Reform (best known as the Deficit Commission) issued a report identifying tax and spending changes designed to sig­nificantly reduce the deficit over the next decade. That Commission recommended different tax options. At least three different approaches were included:

• Eliminate all “tax expenditures” (deductions, exclusions, credits).

• Eliminate the MID (Mortgage Interest Deduction) for second homes and reduce the amount of allowable mortgage debt from $1 million to $500,000.

• Convert the deduction to a 12% tax credit.

Since this report was issued, the National Association of Realtors has aggressively reminded Congress that any change to the tax rules that apply to home ownership would disrupt the market and cause home values to further decline.

The above factors deal with the monetary part of the home ownership equation. However, our general economy correlates almost directly to the housing market. The ripple effect of building a home and then purchasing it benefits individuals in numerous related companies including banks, mortgage companies, title, all the trades, heat and air, plumbing, electrical, wood production, cement, carpet, flooring, appliances, appraisal and much more.

The bigger question is “If you take away those tax benefits, what is the incentive to own”? As evidence of this, the recent tax credits offered to buyers of $8000 caused more activity and sales, showing that a credit does incentivize buyers to purchase.

Taking away these benefits would permanently and dangerously change Americans views of the American dream, home ownership. It also would immediately impact those baby boomers that were relying on what equity they have to retire and live comfortably. What about all those industries that would be impacted with less work, fewer orders for improvements, etc.? If every property eventually becomes a rental, how often will landlords improve them? Certainly not as often as a homeowner does. The end result is a huge negative impact that will have a ripple effect on everyone. There are other ways to generate revenue. If we are all trying to “run lean and mean” how about the government doing that for a number of years with the goal being no deficit?

A Perspective on Multiple Offers in This Market

When to buy real estate above list price Inman News

This article contains one perspective on multiple offers in this market. I would love to hear your opinions on this. Please comment and share your thoughts with me.

Summer Traditions- Music in the Park

The city of La Canada Flintridge’s Music in the Park series is a special summer tradition for my husband and me.  Similar to a small version of the Pasadena Pops but on a local level, the city holds concerts at Memorial Park. 

From Jazz to Country to Elvis tributes, each concert is truly entertaining.  Bring your dinner, libations, and relax under the stars listening to local talent for free! This is a great event to catch up with friends and neighbors or to just enjoy your family. 

Coming up this month is A Tribute to Elvis by Steve Roth on July 10^th, The Jack Lantz Big Band on July 17^th, and Classic Rock by Misplaced Priorities on July 24^th.  All concerts are from 6pm-8pm on Sundays.  A complete schedule can be found at http://www.lacanadaflintridge.com/.

My husband Alan and me at a recent Music in the Park concert.

Peace and Serenity in Montecito Park

This single story Ranch located on a secluded cul-de-sac is ideally situated to enjoy the treetops views and views of the foothills from your home and striking rear yard.  The flow of the floor plan is ideal for today’s lifestyle with the kitchen opening to the family room and the living room oriented to the views.  The rooms are spacious and include 3 bedrooms, 3 baths, a formal dining room, family room plus a great neighborhood. Offered at $824,900.

Open House This Sunday, June 26th, 2pm-5pm

1010 Eilinita Ave., Glendale

This attractive Cape Cod home has all the rooms you can ask for including 4 bedrooms, 3 baths, a family room, formal dining room, den, plus a finished attic and sun roof! Vintage features throughout add to its charm and character. The living room features trestle beam ceilings and a traditional fireplace.  Newly updated kitchen and baths provide modern amenities.  This home is located in the desirable Oakmont Woods neighborhood with La Crescenta schools and access to a community pool. Close to hiking trails and easy freeway access for the best of both worlds!  Offered at $829,900.

Come visit the Home Team Sunday to see this wonderful home.

Conforming Loan Limit to Drop September 30th

The Housing and Economic Recovery Act of 2008 raised the maximum conforming loan limit to $729,900 which has been wonderful for buyers in high-cost areas of the country like California.  Buyers have been able to take advantage of higher conforming loan limits and have also been able to avoid higher interest jumbo loans.  Unfortunately, the high balance conforming loan limit will drop on September 30th to $625,500.  After this date, Fannie Mae and Freddie Mac will no longer purchase loans over $625,500. For most buyers, this means they will need to be able to put at least 20% down for loans over $625,500 and the approval process will be more difficult.  For sellers, it means their buyer pool will be smaller for homes in the $650,000 to $800,000 range.

How will this change affect you?  Are you looking to buy or sell in the next 6 months in this price range? 

If you have questions about this change in conforming loan limits and how it may affect you, I encourage you to contact me and the Home Team.  We would also love to hear your thoughts on the loan limit drop so please share your comments with us.

HAS THIS MARKET STABILIZED? IS IT A GOOD TIME TO BUY?

We are living in uncertain times. You turn on the news and hear that unemployment is over 10% in most states, and in a few like Michigan, closer to 20%. It sounds like a vast number of people are missing house payments or ready to have their homes foreclosed. An exaggeration, but it is happening.

However, how is this directly impacting your life? If you have a relatively stable job (I know no one is exempt) and are financially solvent with money in the bank, what is your concern?

Normally your biggest question is, “If I buy tomorrow, will the value go down another 10% in the next year”? Our Market Trend report shows that over the last   3 months prices have begun stabilizing. Usually that means that as supply and demand shift, property values will start going up. Is there a guarantee they will do so and that this will continue every day of every month, or that values will begin rapidly appreciating? No. But, the economy is showing positive signs of growth.

So, if I buy a home now, what if the economy gets worse? Yes, that can happen and there are some economists that are predicting that. However, the majority of economists are not. In fact, they are saying that because some people chose not to buy in the last 2 years, there is now a pent up demand for homes. Smart buyers realize that the market has begun to stabilize and are purchasing. Interest rates are at a 50 year low. That alone should motivate most of the buyers. There is more to choose inventory to choose from right now due to the time of year.

Bottom line, yes the market is healthier. Yes, it is a great time to buy. The BIGGEST question for you should be, “why are you buying and how long do you anticipate living there? If you intend to live there for at least 5 years, that should carry us through this cycle.  Historical data shows real estate is the highest return investment you can make. We all know it’s not the stock market now!!

I would like hearing your opinion or email me direct if you have a personal question. Email me if you want your neighborhood trends showing the current status of your area.

Charmer in Oakmont Woods- Coming Soon

Fall in love immediately with this character Cape Cod in an established neighborhood.  Set on a rise, this 4 bedroom 3 bath home, with over 2566 square feet, has a formal dining room, family room and striking living room.  With gleaming hardwood floors, trestle beam ceilings and traditional fireplace, the living room is a delightful place to entertain.  A studio room is ideal for an office retreat or library.  A newer kitchen with stainless steel appliances, granite counters, maple cabinets, cooks stove and recessed lights create an inviting space to cooks and relax.  A master suite with its own bath boasts a jetted tub.  There is a finished attic ideal for a play area or music/art room.  Easy care rear yard with patio, garden, and soothing fountain.

·         2566 square feet (per assessor)                                               

·         8960 square foot lot (per assessor)                         

·         4 bedrooms/ 3 baths     

·         Central air and heat       

·         Hardwood floors downstairs

·         Formal dining room                                                                        

·         Recessed lighting                                                                                                            

·         Updated kitchen

·         Finished attic- great for playroom or office

·         Fully fenced rear yard