Orange County, CA Real Estate Podcast with Frank Del Rio

Frank Del Rio
Orange County, CA Real Estate Podcast with Frank Del Rio

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Frank Del Rio - your professional Orange County & LA Real Estate Agent.

  1. 06/26/2018 · VIDEO

    A Quick Mid-Year Market Update for 2018

    Can you believe we’re already halfway through 2018? With that being the case, it’s time for a mid-year real estate market update. Looking to buy a home? Check out our free home search Looking to sell a home? Check out our free home value report The local housing market is like a big game of tug of war between buyers and sellers. Sellers have been controlling the market since 2012 with multiple offers and buyers tripping over themselves to be the winning bidder. As a result, prices have accelerated and reached record levels. However, there is change in the air, and now buyers are beginning to pull back. In the tug of war, sellers are still “winning,” but not if they overprice their homes. Home sellers are no longer getting away with arbitrarily stretching their asking prices. You know what I’m talking about and I’m sure you’ve seen it before. Today’s buyers are approaching housing a bit differently than they did from 2012 through 2017. They are much more cautious these days. The biggest culprits of this caution are interest rates and values. Values have increased significantly. The median sales price was up nearly 6% from April 2017 to April 2018. This follows six solid years of home price appreciation. It may still be a seller’s market, but buyers are starting to pull back. At the end of May 2017, interest rates were in the mid to high 3% range. Meanwhile, today we are in the high 4% range with talks of the Federal Reserve increasing them to the low 5% range. With higher values and higher mortgage rates, today’s buyers still want to buy; but, they are getting to the point that they just do not want to pay much more than the most recent relevant sale. Buyers are approaching housing very carefully and home sellers are wondering what happened to the hot seller’s market that everybody has been talking about for years. Home sellers who are not priced extremely close to their fair market values or do not have a unique selling proposal are not finding success. One of the major indicators that overpricing is spreading can be found in the number of price reductions. Right now, 12% of the active inventory is reducing their asking price every single week. The bottom line is clear: It may still be a seller’s market, but home sellers must carefully price their homes in order to be successful in this evolving market. In the tug of war between buyers and sellers, buyers are starting to pull back. If you’d like to know how this information could impact your home sale or your home search or if you just have any questions, give me a call or send me an email today. I’d love to help.

  2. 06/15/2017 · VIDEO

    5 Things You Should Never Say to a Buyer During Your Home Sale

    There are five things you must never say out loud to a prospective buyer while your home is on the market. Looking to buy a home? Check out our free home search Looking to sell a home? Check out our free home value report You know the expression “Loose lips sink ships?” Well, that saying holds true for the real estate world too. If you’re selling your home, there are certain things you must disclose to a buyer, such as whether your home has lead paint, there has been a death on the property in the recent past, the home is located near a busy street, etc. However, there is plenty more information you might volunteer that you’d be much better off keeping your mouth strategically shut about. The same goes for the Realtor representing you. To help hone in on your “less is more” attitude when it comes to talking to prospective buyers or their agents, here are five things you should never utter (in no order of importance): 1. “Our house is in perfect condition.” Of course it is. Your home is your castle, and in your eyes it may seem perfect, but don’t make claims that aren’t true. The home inspection might reveal otherwise, and you don’t want to wind up putting your foot in your mouth. There is no such thing as a perfect condition when it comes to a home. Every home—whether it’s brand new or a resale—has something that could be fixed, adjusted, replaced, or improved upon. There is no such thing as a perfect condition when it comes to a home. 2. “It’s been on the market ___ days.” Never ever discuss how long your home has been on the market with a prospective buyer or their agent. This information is already provided on the MLS or the home’s information sheet, and bringing it up—especially if the home’s been on the market for a while—can send the wrong message. No one wants to buy the white elephant of the neighborhood. If they do, it’s probably because they think they can get it dirt cheap. 3. “We’ve always wanted to fix or renovate that, but…” Mum’s the word when it comes to fixes you intended to address. This only alerts the buyer of more upcoming costs for them, and they may not even want to take on a bathroom or kitchen renovation. Why plant those extra dollar signs in their head? 4. “We spent a ton of money on (the patio/kitchen/etc).” Just because you love the Brazilian cherrywood flooring you installed on the first floor doesn’t mean prospective buyers will be willing to shell out for that. The buyer doesn’t care whether you spent $10,000 or $100,000 on your kitchen—they’ll only offer what they think the home is worth in relation to the area comparables. You would do the same thing. Save your breath, or else you’ll sound like you’re trying to justify your price, and nobody wants to hear that. 5. “I’m not taking less than ___ for my home.” I understand that you want to sell for top dollar, but it’s important to be realistic and open to offers within a reasonable range—something that’s fair to you and you would be happy with. If you send a message right out of the gate that you’re inflexible or not open to negotiation, it doesn’t invite buyers to even try to work out an acceptable price and terms with you. They may feel defeated from the very start and word might spread about your sentiment as a seller. This can cause people to avoid your house altogether. If you have any questions or need to sell your home, don’t hesitate to give me a call. I’d be happy to help you.

  3. 02/22/2017 · VIDEO

    With Rates on the Rise, Can You Keep Waiting to Buy?

    Mortgage interest rates are on the rise, so should you stop waiting to buy a home? Our preferred lender joins us today to explain this topic. Looking to buy a home? Check out our free home search Looking to sell a home? Check out our free home value report With mortgage rates on the rise, should you wait to buy a home? I've brought in our preferred lender Lauren Williams with Vision One Mortgage to help me discuss this topic. Rates have gone up over the last several weeks. Fannie Mae, Freddie Mac, the Mortgage Bankers Association, and the National Association of Realtors all agree rates will continue to go up over the next four quarters, too. Because of this, some buyers regret the fact that they might not be able to get an interest rate of less than 4% on a mortgage. However, you must realize that current interest rates are still at historic lows. Back in the 1970s, interest rates averaged 8.86%, and in the 1980s, the average was as high as 12.7%. Current interest rates are still at historic lows. The bottom line is that although you may have missed getting the lowest mortgage rates ever offered, you can still get a better rate than your older sibling did 10 years ago, your parents 20 years ago, and your grandparents 40 years ago if you buy a home or refinance your mortgage now. If you're interested in buying a home or refinancing your mortgage, don't wait to get in touch with Lauren at 714.625.0130 or at lauren.theloanofficer@gmail.com. If you have any other questions for me or you're thinking about selling your home in LA and Orange County, give me a call or send me an email. We look forward to hearing from you!

  4. 01/20/2017 · VIDEO

    Are You Ready for the Spring Market?

    When does the spring market start? According to the calendar, it should be March; however, the spring real estate market kicks off much sooner than that. Looking to buy a home? Check out our free home search Looking to sell a home? Check out our free home value report When does the spring market start? Officially, according to the calendar, the spring market starts in March. However, in real estate, the spring market starts in January. Immediately after the new year we have a whole new set of buyers coming into the marketplace. Then, after the Super Bowl in early February, the spring market will continue to pick up speed, sometimes all the way through the end of June. As we begin the new year, families across the country will be deciding if this is the year they sell their current house and move into their dream home. Many people think that they should wait until March to list their home, which made sense in the past. However, this winter is not like recent years. The spring market starts right after New Year’s. Thanks to recent increases in mortgage rates, buyers have been forced off of the fence and into the marketplace. At the same time, inventory levels of homes for sale have dropped dramatically compared to this year. So, right now there is incredibly high demand from buyers and low competition for home sellers, making now a great time to put your home on the market. The bottom line is that the spring market has already begun. If you have any questions about the market or about listing your home, give me a call or send me an email. I would be happy to help you!

  5. 11/15/2016 · VIDEO

    4 Demands to Make to Your Real Estate Agent

    To distinguish between average real estate agents and great ones, you should make sure they can accommodate these four demands. Looking to buy a home? Check out our free home search Looking to sell a home? Check out our free home value report Are you thinking about buying a home but dreading the challenges that come with the process? If you’re concerned about the unanswered questions surrounding what kind of house you can afford, how to schedule showings, and making sure that the paperwork is done right, I have a solution for you. Hiring a real estate professional can take away most of the challenges involved in the home buying process. Like a great doctor or great accountant, a great real estate agent is always worth more than the commission that they charge. Here is the best part: when buying a home, you don’t even pay the agent; you only pay for the loan officer who is getting your loan. I think that this is the reason that we hear more horror stories about buying a home than we do triumphant ones. A great real estate agent is always worth more than the commission they charge. If you want to lock down one of the best agents in your market, you must be able to distinguish an average agent from a great agent. According to many studies, an average agent sells just one to two homes per year. Great agents like us sell more than 50 homes every year. The agent you work with matters every single time. Here are the four demands you should make of your real estate agent when deciding which one to hire: Tell the truth about the price. When making an offer on the home you want to buy, make sure that your agent walks you through the entire plan for getting your offer accepted. Too many agents just take the offer that you suggest and then try to work both you and the seller in negotiating phases later. In a competitive market, you need an agent who is going to help you make the best initial offer so that you stand out from the crowd. In today’s market, every house must be sold twice: once to you and once to your bank. If your agent doesn’t discuss this with you at the time of the original offer, this should raise a red flag. Understand the time table that you and your family are dealing with. You’ll be moving yourself and your family into a new home. Whether the move revolves around the start of a new school year or a new job relocation, balancing the move and your life can be very emotionally draining. Demand that your agent appreciates the timetables you’re setting. Your agent cannot pick the exact time for your move, but they should exert any influence they can to make sure it all works out for you and your family. Remove as many challenges as possible for you. It’s imperative that your agent knows how to handle the challenges that will arise in the transaction, and, more importantly, set the right expectations for you so that you’re prepared for them in advance. An agent’s ability to negotiate is critical in this market. Remember, if you have a weak agent who’s negotiating with you on parts of the purchase offer, don’t expect them to turn into a superhero when they’re negotiating with the seller. Find the right house for you. There is a reason that you’re putting yourself and your family through this arduous moving process. You’re moving on with your life for the better in most cases. The reason for moving is important, or you wouldn’t be dealing with all the headaches and challenges that come with buying and moving. Do not allow your agent to forget these motivations. Make sure that they keep you and your family’s real estate goals at the top of their list of priorities. If they discover that something needs to be done in order to obtain your real estate goals, insist they have the courage to inform you about it. Good agents know how to deliver good news; great agents know how to deliver tough news but get you fantastic results. In today’s market, you need a great agent! If you have any other questions about buying or selling real estate in the Orange or LA County area, give me a call or send me an email. I’d love to help you!

  6. 10/28/2016 · VIDEO

    11 Reasons the Holidays Are a Great Time to Sell

    Contrary to popular belief, the holiday season is a great time to sell your home. There are a full 11 reasons as to why this is. Looking to buy a home? Check out our free home search Looking to sell a home? Check out our free home value report I don’t know about you, but I’m excited for Halloween. It puts me in the holiday spirit! When it comes to real estate, though, the holiday spirit takes on a different meaning. A lot of people thinking about selling their home either to put the pedal to the metal to move forward or pump the brakes so they can enjoy the season. This is because the natural thought is that homes don’t sell during the holidays. Here’s the thing, though: that couldn’t be further from the truth. Right now is a fantastic time to sell your home. How fantastic? My team and I have come together and provided a list of 11 reasons why you should take advantage of the holiday market: People who look for a home during the holidays are more serious buyers. Serious buyers have fewer houses to choose from. Less competition means more money for you. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home if you list then. Houses show better when they’re decorated for the holidays. Buyers are more emotional during the holidays, so they are more likely to pay your price. Buyers have more time to look for a home during the holidays than they do during a regular work week. Some people must buy before the end of the year for tax reasons.  January is traditionally a month for employees to begin new jobs. Since transferees can’t wait until spring to buy, you must be on the market now to capture that group. You can still be on the market, but you have the option to restrict showings during the six or seven days during the holidays. You can sell now for more money and we’ll provide for a delayed closing or extended occupancy until the following year if necessary. Selling now gives you an opportunity to be a non-contingent buyer during the springtime when there will be more houses on the market for less money. This will allow you to sell high and buy low. Right now is a fantastic time to sell your home. If you don’t absolutely need to, feel free to stay put, take your home off the market, and enjoy the holidays. I know I will. However, there are some great benefits to selling now that you won’t get during the rest of the year. If you have questions about your home or putting it up for sale during the holidays months, let’s talk. Give me a call or send me an email so we can figure out how we can get the highest price for your home. I look forward to hearing from you!

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If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Frank Del Rio - your professional Orange County & LA Real Estate Agent.

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