FSBO Checklist

In this scorching hot real estate market, some sellers opt to do it themselves without hiring a pro. Main reason usually is to save the commission to the listing agent, but there could be other reasons. If the property is priced right and had sufficient exposure, and sellers’ expectations are in check, there is no reason the property will sit for too long. For the For Sale By Owner (FSBO) sellers, here is a small checklist to see if the property sale is on track.

Is your property on the market for more than 2 weeks?

No, keep the fsbo effort

Yes, a review of pricing, marketing, property condition and seller expectation may be necessary

Are you compensating buyers’ agents?

Are you relying only on Craigslist?  At least using a flat fee MLS listing service?

Do you know the comps in the immediate neighborhood?

Is your property vacant for showing?  How are you doing open house?

Do you have all the repairs done?  How about a current inspection report? How appealing does the property look?

Have you received/rejected any offers?  With focused marketing and showing, there will be buyer hype and if the property is a good property, it will generate multiple offers.

Have you estimated sellers’ net? are you familiar with all things that could go wrong in a close and how to remedy each? How about ranking offers and arranging for backup offers? Escalation clause and how/when to use it?

Do you have the next residence lined up?  Considered 1031 exchange?  

At what point would you consider using a full service realtor?

Is it OK to miss the selling window for the next year or two?

If seller goes through these questions and answer each of question honestly, that exercise can help to stay at the current course, or perhaps talk to agents who are great in helping out with all of the above, plus more. Either way, happy selling!

Praying for India!

I hope this news piece is not entirely true. Praying and chanting for India, and her people. Let’s keep our guards up until we are completely rid of the impact. Please like, comment, share and follow, Thx

Pandemic Real Estate Market

There are obvious additional difficulties in conducting real estate activities throughout the pandemic.  As you can imagine, no open house is allowed under state-wide order now, so seeing a property takes coordinated effort between the listing and buying agent, taking care to follow all pandemic procedures.  This means masks, and a sign in system recording all visits to the subject property.  And many property showings turned virtual, with a zoom call with an agent walking through the property to show and answer questions.  On the other hand, real estate is still considered essential through the pandemic since we still need to consider moves.  With  the very slim availability, and the usual multiple offers, it is a battlefield to just get into the top 3 offers being considered.  At the end of the day, when your offer is the one being accepted, it is a well deserved celebration. 

Please comment, like, share or follow.  Thanks,

Photo by Binyamin Mellish on Pexels.com

Ps:  If you are interested to see what the market is like, here is the link to my real estate page https://michaelchu.exprealty.com/  Here you can see what your property might be worth, and also listed homes in the area you are interested in.  

Ageism

The United States is a country of legal equality, a model many other countries in the world would like to copy. Of course, we on the inside knows that there are many forms of discrimination and that had garnered lots of voice of activists, most notably the BLM movement, along with the LGBT movement.   I sincerely support our getting to a better version of equality through peaceful and unrelenting sharing of understanding with all.

With that, I do want to discuss another form that is not getting so much attention but is real nonetheless.   Particularly in California, we are not supposed to discriminate on any basis, when it comes to housing and employment.  We are all supposed to be blind to color, gender, race, national origin, sex, sexual preference, age, income source, etc. like literally anything.  Ageism does not get much lime light, but when you feel it you feel it.  Like when I look for a job, I can feel it.  It is always very subtle, and basically can’t really prove it, but it’s hard to shake that feeling.  And recently, I spoke to a friend who is in his 50s and he says he was looking for a job and he felt ageism and after a couple of months trying, he quit looking for work.  It seems the job market is looking for the 30s and 40s mainly.  We either pick up an entrepreneurial path or the retired/investor path.  Oh well life goes on and we still have the best political system in the world.  But as many have said it before, freedom is not free and equality still needs to be earned.  Please comment, like or follow!  Thanks!

We love our system, but it still has room for improvements
Photo source: Wikipedia

Happy Lunar New Year!

Today is the start of The Year of Ox.  It has been said that last year, the Year of Rat, was going to be a particularly bad year.  And somehow, many things happened.  Now that is behind us, let us look forward to the new. 

One thing I found through the Stay-At-Home period is that turning to studying spirituality, meditation while keeping physical health has helped me in maintaining sanity through all the turmoil.  In addition to my Christian school background, I gained a view into how buddhist look at life, re-incarnation, karma, doing good deeds and living a positive life.  Each day, if you can find that clam within yourself, it will help you become a better person.  A life dedicated to being kind, compassionate and helping others will bring much rewards.  Our 41st President has called for ‘a kinder gentler nation’ in his time, and I think we do need to keep that in mind as we go through our daily life and make our own sphere a better place.  May God be with us and guide us forward.  Please comment, like or follow, Thanks

Happy New Year!
Everything Goes According to Your Wish!
with Auspicious Chants