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Berkshire Hathaway HomeServices / INDRA Group

Berkshire Hathaway HomeServices, INDRA REAL ESTATE GROUP, your Real Estate Learning Center

Educational Offerings

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Dealing with international clients Rancho Santa Fe Market update

Understand the "Ins and Outs" of the Rancho Santa Fe market

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Adult

Melia and Oliver Indra of the INDRA Real Estate Group talk on ESPN 1700 about working with international Real Estate Buyers and the Rancho Santa Fe Market.

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Learn how to get your home show ready
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Adult

Melia Indra of the INDRA REAL ESTATE GROUP talks about 3 important factors to consider before getting your home listed.

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Learn how to define your ideal home How to look at homes How to finance your home
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Adult

This is a great Buyer's Homebuying guide by Berkshire Hathaway HomeServices and the INDRA Real Estate Group for all Real Estate Buyers. It touches subjects like: Defining your ideal home, how to look at homes, financing your home purchase, estimate of costs, submitting an offer and how to go through a smooth transaction.

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Adult

Baby Boomers vs. Millennials on Housing Market

“Real estate investing, even on a very small scale, remains a tried and true means of building an individual's cash flow and wealth.” -Robert Kiyosaki

Berkshire Hathaway HomeServices released results of its latest Homeowner Sentiment Survey indicating that current and prospective homeowners remain optimistic about the current state of the U.S. real estate market. Respondents cite higher home values, increasing housing inventory and low interest rates as the main reasons for their optimism. Baby Boomers show more optimism about rates than they used to, and Millennials are unsure that rates are even considered 'low.' Patrick Henry, CEO of QuestFusion, a business consulting firm here in San Diego laughs out loud at this, stating that Millennials have no idea how low the rates really are. Patrick and Amanda Cascadden, Realtor with Berkshire Hathaway Homeservices in Rancho Santa Fe, debate how they feel about the real estate market and mortgage rates in this video; take a look:

Millennials are a lot more optimistic about the market these days. They believe that owning a home is a big part of the American dream, and Amanda believes that they want to own a home, whether it takes longer, and even if they can’t really afford it. Even where she lives in Carmel Valley now, they’re building everywhere, and these homes are selling. Older Millennials who have established themselves and started a family, are getting excited to buy a home in San Diego.

Patrick says what he has seen since the recession in late 2009 is that the home market has never really fully recovered and he feels the homeowners are kind of stuck in an interesting issue. They don’t want to have a foreclosure or a short sale, but their homes are worth more than what they paid for them. He thinks that causes a problem, even with interest rates as low as they are. So why are Baby Boomers more excited than they have been in the past to own a home? “The economy is ok, we are in a slow growing economy, the Fed isn’t defaulting on our trillions and trillions of dollars debt, so things are getting better. Boomers are more worried about things like that,” says Patrick. He also thinks that real estate is very hyperlocal, and the markets differ greatly from area to area. 

If you look at the local San Diego market, where homes are above $2 million, the market is slower. Whereas the homes priced lower than $1 million seem to be getting a lot more action. Except on the coast, where properties are going quick no matter what the price is. There is a pretty good balance of supply and demand, so as long as your planning to live somewhere for 10 years or so, owning a home is a very good thing. 

How do you feel? Is the real estate market booming? Or is the lack of excitement from Baby Boomers getting you down? We’d love to hear from you, and if you’re looking to buy or sell in San Diego, consider the Indra Group. We work with clients in all price ranges, and are happy to talk with you anytime about your homeownership goals and how we can help you achieve them.

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luxury auctions, luxury Real Estate auction, home auction without reserve
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Adult

Why would any luxury home owner agree to selling their luxury home at Auction without Reserve?

It seems to be a new trend in the luxury Real Estate market that sellers put their house up for Auction without reserve. 

What exactly does Auction without Reserve mean?

Well, any buyer who registers for the Auction can bid on the property on Auction day. The highest bidder will get the property for their highest offered amount and the seller WILL HAVE TO sell it for that offer price.

Property SOLD sounds like something to celebrate about, but let's look at the outcome;
As example from some of the latest Auctions in Rancho Santa Fe, California. 

18127 Via Roswitha, Rancho Santa Fe, Covenant:
Original first asking price $15,900,000 reduced to $12,900,000 sold at Auction Day for $6,400,000 
> 60% less than original asking price! 

16603 Avenida Molino Viejo, Rancho Santa Fe, Fairbanks Ranch
Original first asking price $10,500,000 reduced to $8,900,000 sold at Auction Day for $4,400,000 
> 58% less than original asking price!

15651 Puerta del Sol, Rancho Santa Fe, Covenant
Original first asking price $36,500,000 reduced to $22,500,000 offered in pre Auction period for $10,000,000 - $36,500,000 sold for $11,200,000 
> 70% under original asking price!

5425 Los Mirlitos, Rancho Santa Fe, Covenant
Original first asking price $28,900,000 reduced to $19,995,000 sold at Auction Day for $13,000,000 
> 45% under original asking price. 

16270 Via de la Valle, Rancho Santa Fe, Covenant
Original first asking price $19,955,000 sold at Auction Day for $10,650,000
> 47% under original asking price

14115 Biscayne Pl, Poway
Original first asking price $5,295,000 sold at Auction Day for $2,525,000
> 52% under original asking price

6605 La Valle Plateada, Rancho Santa Fe
Original first asking price $12,800,000 reduced to $10,800,000, sold at Auction Day for $6,075,000
> 52.6% under original asking price

I do wonder, if those sellers had known before agreeing to an Auction without Reserve, for how much their property will be actually sold, if they would have done that. All we read in the paper is successfully SOLD at Auction, BUT, there is no success right there! Sellers are forced to sell under market value! It's only good for the buyers and the Auction Companies as well as the agent / brokers involved. 

Advice

My advice for luxury Real Estate sellers, do NOT agree to an Auction without reserve! Price your home when you go to market at market value! Don't just think I'm in no hurry to sell, so let's ask for a value which is not supported by the market. Listings become stale after a couple month especially after years. Do not lose Millions of $! Why would you want to, just price it right from the start. 

My advice for Luxury Real Estate buyers, do GO to the Auctions, clearly buyers are getting a steal!! However, do your research first, make sure you know the cost of maintaining the property, make sure you understand the market value and comparable properties.

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Adult

If you like winning here’s some reasons why now’s the perfect time to buy or sell a home.
It’s not all too often that the benefits to selling equate to about the same number of benefits to buying. If there is ever a time to realize this, the time is NOW....

Buyers:

  1. Available now are some of the lowest interest rates available in history. With an array of loans available you can still finance for close to or less than 4%.

  2. A variety of financing programs allow for less than the 20% typical down payment. As interest rates may increase as well as home prices in the near future it may be worth buying now rather than waiting to save more for a bigger downpayment.

  3. Homeowners are able to write off their taxes and with rising rental rates this big tax benefit often tips the monthly mortgage payment as being more affordable to own. This tax write off is continually being reviewed and may not continue into the distant future.

  4. Inventory is still relatively low however, there are still a lot of really great homes out there. With a knowledgeable real estate agents, like The Indra Group, they can help you find the best available homes or ones soon to be on the market.

Sellers:

  1. The real estate markets has been recovering with consistently rising home prices over the past four years. While prices are not continuing double digit increases as in 2013 and 2014 they are still projected steady increases for the next 3-5 years.

  2. While there are homes on the market, inventory is still relatively low. Therefore, homes professionally staged and that have a Wow factor can really command a premium.

  3. Sellers really can control how quickly their home sells by pricing it correctly taking into account their time frame and goals.

  4. Low interest rates available to buyers combined with foreign investors offering cash have added a large number of buyers to the pool of people looking to own real estate.

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Adult

-Arrange photographer to take photos of your home.

-Arrange for yard sign installation.

-Research all comparable listed properties.

-Research sales activity for the past months from the MLS.

-Research average days on market for homes similar to yours.

-Download and review tax information. 

-Prepare comparative market analysis to establish current market value.

-Research property’s ownership and deed type.

-Perform exterior “curb appeal assessment” of the your home.

-Confirm current public schools and explain their impact on market value.

-Present professional pricing strategy based on current market conditions.

-Discuss your goals and keep them in mind throughout the transaction.

-Explain marketing power of MLS.

-Review property and appointment questions.

-Send confirmation email or text confirming appointment day/time.

-Review all clauses in listing contract and obtain signatures.

-Check over home for accurate room sizes, property lines, and easements.

-Prepare showing instructions for buyers’ agents and agree on showing times with seller.

-Discuss possible buyer financing alternatives and options with seller and verify current loan information with a lender.

-Verify Home Owner Association information.

-Review interior decoration and suggest changes to shorten time on market.

-Add listing to Berkshire Hathaway website and syndicated websites.

-Create print and digital ads for your home. 

-Arrange for printing of flyers and cards featuring your home.

-Reach out to buyers’ agents for feedback after all showings.

-Obtain pre-qualification letter from all potential buyers. 

-Provide weekly report to you about how your home sale process is going.

-Receive and review all offers and counsel all sellers on all offers and explain weaknesses of each.

-Negotiate on all offers on behalf of all sellers.

-Deliver all files and documents to all sellers and buyers’ agents in a timely fashion.

-Advise sellers through the escrow process, and help with any questions.

-Track and confirm the loan process and contact lender weekly to stay on track.

-Organize home inspection and assist seller with negotiation of any repairs if necessary.

-Schedule and follow up on appraisal.

-Solve any title, escrow, tax, HOA, or document issues prior to closing.

-Complete all paperwork and assist sellers in completing paperwork for closing day.

Change MLS listing status to SOLD on closing day.

-Follow up after the sale with any assistance needed with the home. 

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Learn the key differences, plus pros and cons, between investing in both types of properties

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Adult
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Lets go deeper than what you can get from Zillow and other appraisal sites

Send me photos of your home and address and I'll give you a deep appraisal of your property and concrete steps you can take to improve the value

$50.00
1 session(s)  1 Hours
Online - Advising
Adult

This is a one-on-one session where I will walk develop a real appraisal of your home based upon information you send me.  Then we'll look at specific steps you can take to improve that appraisal.

$ 50.00

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Competencies

  • Business: Real Estate, Appraisal & Property
  • Legal Studies: Real Property Law

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