How Much Does It Cost To Sell My House?

How Much Does It Cost To Sell My House?

Home sellers on the central coast of California are curious on how much it costs to sell their house and what fees are associated with selling their house.  This will give you a good estimate on what to expect when you list your home for sale. The fees in selling your home are approximately 1%-3% of the sale price of the home to cover the closing cost fees, including title and escrow fees. 5-6% for Realtor Commissions and some small Additional Fees that would be  based on exactly when you close escrow.

The Escrow Fees covered are the following:
1. County Transfer Fees
2. Title Insurance
3. Half the Escrow Fee - (Typically it's a fee shared with the buyer)
4. Natural Hazard Disclosure Report - NHD
5. HOA Transfer Fees - (If you are in a Condo, PUD or Association)
6. 1-Year Home Warranty
7. Termite Inspection
8. Drawing of Deeds
9. Misc. Fees

Realtor Commission
Depending on the negotiated realtor commission you will be paying 5-6% of the purchase price. You as the seller typically pay all of this fee. Depending on the your state, these fees may vary. Don't skimp on these fees. Remember 1/2 the Realtor Commission goes to the buyers agent. A listing with low commission rates may give the buyers agent an impression you aren't easy to work with or the agent may not show your home to prospective buyers. Starting off on a good foot with the right impression is a winning strategy to start with.

Additional Fees to consider:
1. Property Taxes Owed
2. Mortgage Loan Balances
3. Interest Owed on Loans
4. HOA Dues Owed (If you are in a Condo, PUD or Association)
5. Costs for Repairs - Termite, Home Inspection results

If you are considering selling your home, ask your realtor to get you a Sellers Net Sheet from a Title & Escrow company. This sheet will give you actual costs associated with each of the itemized fees I have in this Blog.  Once you get the numbers together you will have a better understanding of what your bottom line will be. When you are ready to put your home on the Central Coast Market, give me a call to discuss getting a Net Sheet and starting the process. I'm here to help!

Please leave a comment if you feel this was helpful. Or share this with friends and family. I always appreciate your referral business.

"I'm Your Central Coast Listing Agent!" Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

How Much Home Can I Afford?... So Play House

How Much Home Can I Afford?... Play House

I am a very big fan of Money Queen Suze Orman. On one of her recent shows, she had a wonderful idea about figuring out how much home can a new buyer afford. Today I'm going to give you the tools to figure that out by "Playing House."

Step #1
* Choose how much home you want to buy.
* Only start this process if you have 20% down on this home of your choice.
* Go online and use a mortgage calculator and online resources to figure out the following monthly expenses:
       1. 30-year fixed rate monthly mortgage payment
       2. Monthly Property taxes
       3. Monthly Association Fees, (If it's a Condo, Mobile Home or PUD)
       4. Monthly Home Owners Insurance
       5. Monthly Home Maintenance (Yard, Periodic Painting, Termite Repairs, Roof, etc.)
*Total up all the costs for items 1-5, under step #1, and this will give you the total monthly cost of owning the home.

Step #2
* Use your total at the end of Step #1 and subtract it from the monthly rent you currently pay. This will give you the additional amount you currently would have to pay for a home of this price.

Step #3
* Start saving the additional amount you figured out at in Step #2 for 6 months.
* This will help you see what it feels like to own your own home.
* If this amount is too difficult, then you are purchasing too much house.
* If it's easy, you now have 6 months of saving to use towards your closing costs and down payment and you should call your favorite realtor, me, to begin your home search.

I hope this was helpful! This will also help you see if renting is comparable to the monthly cost of buying a home in this current market. Please comment below to give me feedback on this blog post.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Refinancing Your San Luis Obispo Home Today Could Mean BIG Savings

Refinancing Your San Luis Obispo Home Today Could Mean BIG Savings

I'm sure you've heard interest rates are low and dropping. But what does that mean to you? Why should you care? By doing a quick mortgage calculation to see what your savings could be, it could mean extra money monthly for you and your family. I recently had my home refinanced (a Refi) and I'd like to to fill you in on the financial benefits.

We live in San Luis and our mortgage loan wasn't bad, 5.375%, but the interest rates that are currently available are like borrowing free money. There are rates in the low 3%'s that could save us hundreds of dollars a month. Here's a simple example to show you how a small drop in two percent of our mortgage interest saved us a ton of money.

On our mortgage loan of $400,000 for 30 years at 5.375% our monthly mortgage, not including our Property taxes, was $2,239.88. The loan for the same amount at an interest rate of 3.375% our monthly mortgage is now $1,768.38. The 2% difference in the interest rate is saving us monthly $471.50.  That is a large amount of savings a month!

A good rule of thumb is if your current interest rate on your home is more than 1% higher than the current rates, it's financially worth it to Refi your home. You have a loan for 4.25% and rates are currently at 3.25%, call your broker. Many brokers can also give you estimates on what your monthly savings would be and what the cost is to Refi. On our Refi the cost to do it was added into the mortgage loan so we had no out of pocket expenses. A huge plus. Call your mortgage broker today to see if you can save money on your interest rate. You will be so glad you did.

If you are looking for a great Mortgage Broker to help you with your Refi, please email me for a referral in your area. I'm here to help!

Click here to access a link to a Mortgage Loan Calculator to see how much you can save! You're Welcome...

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Listing Agent for San Luis Obispo Property

Listing Agent for San Luis Obispo Property


There's no better time to sell your home on the Central Coast!  Are you thinking about selling? I know I can get you the very best price for your home.

I have the privilege of working with great sellers in San Luis Obispo County. They are all experiencing the benefit of selling their home in this market. The buyers looking to buy your home are looking for great homes in this amazing time of extremely low interest rates. Many buyers have waited to purchase till now. With rates being low, buyers can afford more home for their dollar, making it the best time for them to buy.

What's the benefit for you as a seller in this market? You get the benefit of multiple offers, a large pool of buyers looking and bidding on your home. The low inventory of today's market gives the seller the advantage to pick and choose the highest and best offer on their property. This can produce above asking price offers and a bidding war to get your home.

When you are contemplating putting your home up for sale, call or email me today to begin the process. I will get you to your goals of selling your home.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Looking for a San Luis Obispo Sellers Agent?

Looking for a San Luis Obispo Sellers Agent? ... Well look no further!
I look forward to meeting you and exceeding your expectations in selling your home.

Property in San Luis Obispo County is always desirable. If you are thinking about selling your home I know how to sell your home quickly and for top dollar. Contact me to learn more.

Today savvy buyers are searching the internet looking for great homes to buy. Inventory is low for our Summer Season but there is a flurry of buyer activity looking to buy your home. Now is a great time to put it on the market. Sellers are seeing multiple offers on their homes with typically the home selling for above the asking price. Our distressed property inventory is slowing down and buyers have less homes to choose from, creating this frenzy of activity.

Weather you are looking to down size your home or looking to expand your square footage, I know how to sell your home to get you to your goals. Give me a call or email me today to learn more. Visit my website and use my resource tools.

Again... I look forward to meeting you and exceeding your expectations in selling your home.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

San Luis Obispo is the friendliest place to buy a home?

San Luis Obispo is the friendliest place to buy a home?

 

Thanks to a Nationwide vote for the Friendliest City in North America by Rand McNally... San Luis Obispo was voted as the Friendliest!

The San Luis Obispo Chamber greeted the team coming to our friendly town. My wonderful husband, Rich Ferguson, was one of the first people to greet them.

As most of you know, last September San Luis Obispo was voted The Happiest Place In America. Our city is growing in popularity since this award and we are continuing to be a thriving city.

Homes in SLO County are continuing to sell at quick rate and inventory of homes is the lowest it has been in years. Currently our inventory is 30% below last years average, making this Summer a sellers market for some areas in our County. Buyers continue to move here and buy investment property here. If you are in the market to buy or sell your home, now is a great time to give it a shot!

Congratulations San Luis Obispo!

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

San Luis Obispo Housing Market Is On Fire

San Luis Obispo Housing Market Is On Fire!

If you are even thinking about selling your home, NOW is a phenomenal time to do that. 
Let me tell you why...


Recently I have been working with buyers in my business and the lack of homes available for home buyers to buy have been very low. Historically during the Spring/ Summer months San Luis Obispo Real Estate market has the majority of available listings for sale. We also see an increase in buyers during this time as the weather gets better and buyers begin to purchase.

Well...we have yet to see this increase of homes on the market. This lack of homes available to buy has created bidding wars on homes that are on the market. I recently have worked with 2 buyers who wanted to make offers on homes, that just came available to buy, where we were not the first offer but the 11th or the 9th offer on the property. The offers were not only close to the listed asking price but sometimes well over the asking price if the home was in great condition.

The extremely low interest rates coupled with prices being at affordable prices are prompting investors and first time home buyers to making the plunge into making a purchase now. I believe we are feeling the "bottom" of the market in our city and the time to act is now.

If you are considering putting your home up for sale, take the first step and learn what your home is currently worth. Call or email me today to get a complete Comparative Market Analysis (CMA) into your homes value. It could be worth more than you think!

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Now Accessing Statewide MLS!

Now Accessing Statewide MLS (Multiple Listing Service)!

Many folks don't know that 99.9% of Realtors in San Luis Obispo only have assess to their County's homes for sale, this is a very narrow segment of the Real Estate market. This puts you the home buyer and seller at an extreme disadvantage. I am proud to say that I am a recent member of the California Statewide MLS system.  Being a member I will be a stronger resource to you as your Realtor.

This Statewide MLS has the most complete and accurate database of listings. I'm able to send you listings, set you up for email notifications of new property and the biggest advantage is that I'm able to list your home and market your home statewide. This advantage gets you maximum exposure to other Realtors, and their buyers, in California.

I work hard to keep on the cutting edge of my business to continue to deliver on your evolving client/ consumer expectations. I look forward to listing your home on the Statewide MLS in the near future.

Please call or email me with any question about the subject of Real Estate. I'm here to help!

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Paso Robles - Open House, 1759 Highland Park Drive, 11-3pm Sunday July 31st

 Paso Robles - Open House, 1759 Highland Park Drive, 11-3pm Sunday July 31st

 Welcome to . . . 1759 Highland Park Drive,  Paso Robles, CA 93446 . . . in beautiful San Luis Obispo's north county the gorgeous California Central Coast

This home is a classic beauty! The panoramic views from this home are the most spectacular in Paso Robles. This property is located in a very desirable hilltop area of Paso at the end of a cul-de-sac. Enjoy warm Summer nights on the wrap-around deck overlooking the City and foothills below. Indulge in the Almond Orchard and expansive open space on a 0.41 acre lot. This 2,600 sq.ft. private cozy home has all the amenities you need for a great family. Newer AC Unit and all appliances are included. The large family room and office space is perfect for working from home. There are lots of storage spaces throughout the home and the oversized garage is perfect for toys and tools. Make us any reasonable offer today on this classic beauty.

Priced at $550,000

Visit this website for more info and photos . . . www.1759HighlandPark.com or contact me today about a showing.

 

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

San Luis Obispo Historical Home for Sale !! - Deal of the Week

San Luis Obispo Historical Home for Sale!! - Deal of the Week
Amazing Price for a Legendary historic Mill Street District Property - vintage California Architecture.

$975,000... 1307  Mill St,  San Luis Obispo, CA  93401
Flier with detail

• 3-bedroom/ 2.5-bath 
• 2,500 aprox. sq.ft.
• 0.27 Acre lot
• 2-Car Garage

This property recently got a dramatic $75,000 price drop. The seller is very motivated to sell this beautiful home.

Tray ceilings, stained glass, wood moldings and extensive built in cabinetry point to the craftsmanship that fill this iconic residence. 

Expansive rooms with sun filled interiors. Warmth and grandeur describe this very special home located on one of San Luis Obispo's premier tree lined boulevards. 

Mature landscaping and terraced hardscape make for endless outdoor living possibilities.

The precious yellow playhouse in the picture was designed by Julia Morgan and it shares residence on this oversized R2 lot.







A rare opportunity to own a piece of San Luis Obispo's history. 
Contact me today to learn more about this Historical Piece of San Luis

"A Realtor that knows homes." Traci Ferguson 805-235-6396 Patterson Realty traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Top 3 San Luis Obispo Buyer Questions

Top 3 San Luis Obispo Buyer Questions

I have noticed that there have been reoccurring Realtor questions from my San Luis Obispo buyers in the past couple of transactions I have done. I have also heard these questions at Open Houses or just in casual conversation. I thought I would address them and give my best answers for each.

1. "If it's possible prices haven't hit bottom yet why, should I buy now?"

My response: While price is a major concern for anyone selling a home, cost should be you primary concern as a buyer. This means you need to take into account what your monthly payments will be, considering not just the price of the home but also your interest rate of your mortgage and property tax amount. San Luis is 1.125% of the purchase price. Inevitably interest rates will increase, making the amount of home you can afford go down. 
See my blog post "Cost vs. Price" for an expansion on how interest rates effect your "buyability"


2. "When will we see appreciation if I buy a home now?"


My response: Appreciation varies by your local market and you would need to look at local pricing trends. Nationally there are indicators that are feeling positive about 2011 and where the market is going. The National Association of Realtors projects a slight increase nationally of 0.5%. Another company that did a National Home Price Expectation Survey showed that experts think prices will begin to build beginning in the second half of 2011 and a cumulative appreciation of more than 10% between now and 2015 nationally.


3."Does buying still make better sense than renting?"

My response: It depends!... Most people buy a home for reasons other than financial. They may want security in their housing situation. They may want to be able to control where they live and be able to do more with their home. I ask them, "What non-financial benefits would your family have to buy a home instead of renting?" The bottom line is it has to be the right timing and make sense to you and your family to do it.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Arroyo Grande California Home For Sale

Arroyo Grande California Home For Sale!
You want this Charming French Country Canyon Crest Estates Home! Located in Arroyo Grande on a premium lot with over $80K of interior improvements. 

This warm 4bed/3bath home w/detached Office/Studio is perfect for entertaining & enjoying views of the Oceano Dunes, Huasna Valley & Ocean. 

Welcoming red oak hardwood upstairs & custom tile floors downstairs creates a custom feel.

This 1/2 Acre property is located above the fog line so the home is bright & sunny. 

Low maintenance custom designed Landscaping w/Extended View Decks, Paved Walks, Custom Stone Walls & Raised Flower Beds.

This Arroyo Grande home is offered at $850,000. It's easy to show and has sellers who are willing to work with your offer! Give me a call to day to schedule a showing of this Entertainers Dream home.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Move-Up Buyers In San Luis Obsipo

Move-Up Buyers In San Luis Obsipo

In San Luis Obispo we have wonderful diversity of home styles, amenities and locations. You have the luxury of living on top of a mountain, the vast beauty of a low lying valley over looking vineyards or the privilege of living at or by the ocean. Our county offers a vast array of home buying possibilities to new and Moving-On-Up buyers.

Are you a Move-up buyer?
If you started out owning a 2 bedroom condo and now have the ability to purchase a larger home, you have the potential of being a move-up buyer. The definition is someone who owns a house, but wants to move into a bigger and better property. The Move-up is about growing your home buying expectations and taking a step up in home ownership.

What are the benefits?
One of the biggest benefits is low San Luis home prices. With interest rates and home prices being depressed the opportunity to buy more home for your dollar is a reality. All of this is relative. The facts are the house you are selling is not worth what it was at the peak of the market, but neither is that house you want to move up into. With the depressed costs for homes, you have the opportunity to buy more house now and reap the benefits of growing equity and your property value going up with time. A win win situation!

 Ok!, lets do the math, easy math I promise:

So lets see if this is a good time to take advantage of the buying opportunities and if selling now and moving up might not be a bad idea to take advantage of.
As a first time  home buyer you bought "Home-A" at the peak of the market it would have cost you $300K. If you were a move-up buyer and bought "Home-B" at the peak of the market it would have cost you $500K. The gap between the two prices is $200K. But if you bought "Home-A" at the down turn of the market it would cost you $270K and the cost for "Home-B" at the down turn of the market would have cost you $450K. The gap between the prices is $180K, a savings of $20K between buying at the peak of the market vs. the current downturn of the San Luis Obispo market.

So in this scenario you are getting more home for less money. This is the basic premise to why if you can "Move On Up" and buy a bigger home, now is the perfect time to do it. When prices are still low and Interest rates are under 6%.

		"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

I Just Got Audited in San Luis Obispo!

I Just Got Audited in San Luis Obispo!

Today our home got a Whole House Energy Audit.  Thank you Try Spindler and Paul Manconi from Central Coast Green House who came to give us a free Home Energy Audit, paid for through PG&E. Our local non profit Sustainable organization, SLO Green Build, has set up this great offer to home owners to give free energy audits to show home owners where they can save money on their Heating, Cooling and Water usage. This is essential to saving monthly on your utility bills. The process involves numerous steps and took about 4 hours total.

A Blower Door fan was installed on the front door to negatively pressurize the home to test where air was leaking from. The biggest air leakers are windows, vents and air ducts. Even our light switches were leaking air. It's Crazy!

This Photo is of our ceiling vent. The thermal photo imagery shows that the vent is leaking cold air from the attic into the home and is wasting energy. Bad vent...bad!

Jamie Hendrickson from the local Mutual Water company came by to check for leaks in our toilets and the Gallons of water we use on average. The blue dye was put on the bowl to see if any water was leaking from under the lip of the bowl. She called it a "silent leak" that can cost you numerous dollars a year in added water costs.

Next week we will be getting the results of all of the testing to see how our home stacks up. They will also tell us where and how to improve the Energy Efficiency in our home and save on our Utility bills.
I can't wait!:)

To learn how you can get a free Energy Audit done on your home talk to your local green/ sustainable organizations or your Gas & Electric Companies. There are state and government incentives available to home owners. Or call your local Energy Auditors, they are about $450 for your home evaluation and well worth every penny. Heck, they may save you that much in utility bills.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

San Luis Obispo Condo for Sale!

San Luis Obispo Condo for Sale!
Calling All Cal Poly Parents... This Condo on Exposition Drive is the perfect investment property for your Cal Poly incoming student or for you first time home buyers.

This clean end unit in the Convenient Woodbridge Condo Complex. It's a 2 bedroom 1-1/2 bath with just over 1,000sq.ft. It has a tiled living room fireplace with newer clean carpet throughout. This unit has additional windows as an end unit and is very private, with only one neighboring unit. Backyard Deck has a small exterior storage unit. The refrigerator, washer and dryer and water softener is included in the sale of the property. The unit has a single Car Garage and one designated parking space. This condo would make a great investment property or first home.

Click on condo to see the official website or give me a call or email Traci today to see this beautiful home.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082