Terese Ayers -REALTOR®

Camarillo Real Estate Agent serving all of Ventura County Helping Buyers and Sellers find the perfect property, from first time buyers with low income to established investors looking for a second home or rental property.

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General Real Estate Information

What to expect in closing costs on a home purchase

Terese Ayers
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Many are taking advantage of this year's low mortgage rates to purchase a home. Pent up with excitement, many families, who have scrimped and saved for a down-payment, jump for joy when the mortgage lender finally approves their application. But, they should realize that there's a whole new set of expenses that must be covered before actually closing on the sale.

New homeowners are often taken aback by up-front closing costs such as mortgage and title insurance, attorney fees, recording fees and loan points, which can run into the thousands of dollars. But there is no need to be afraid of these charges. With a little background on their purpose and shrewd financial foresight, closings can be a breeze.

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Remodeling your home: How much is too much?

Terese Ayers
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The classic way for homeowners to increase the value of their house is by remodeling existing rooms or adding on to its current plan.

Some choose to build recreation rooms and studies while others add new appliances, fixtures and cabinets to enliven rooms and make their home more attractive to future buyers.

But, when should you decide to stop sinking money into a home and buy a bigger place? And how much rehab is too much when it comes time to recovering remodeling costs through a home sale

For instance, if you've just spent $1,000 remodeling your living room and didn't expand your small bathroom, the chances of increasing the number of interested buyers are slim.

With these concerns in mind, Century 21 sales associates offer a few tips for those struggling to add value to their home.

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Opportunities and challenges in the current market

Terese Ayers
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We are currently in a buyer's market and there is potential for a buyer to find a great deal throughout the county.  The current housing inventory within the Ventura County Multiple Listing Service consist of (1) Resale (2) New Homes (3) Foreclosed (Bank Owned) and (4) Short Sales.  All these particular properties need to be handled differently. 

I meet with many buyers that would like to purchase bank-owned or a short sale property claiming they are the best deals.  While this may be true, depending on the buyer's needs it may not necessarily be their best choice. Often times these types of properties are distressed and require a large amount of work.  For example; if you purchase a home from an individual seller and there is termite work to be completed, the seller will normally be required to do so before the close of escrow.  However, I have seen short sale and bank owned properties that required a substantial amount of termite work (thousand of dollars) and the bank refused to cover the costs. This has left the buyer with the decision to cover the cost or walk away from the purchase.  This is why it is so important to meet with a trusted real estate professional to evaluate the buyers' current wants and needs and determine the appropriate property. Communication with your agent is the key!

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Finding a capable agent to meet your real estate needs

Terese Ayers
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Whether you're a first-time buyer, selling your current home or relocating to a different part of the country, the support of a qualified, knowledgeable real estate agent can alleviate many of your concerns and ensure a smooth transaction. A professional agent can market your present residence, help you locate the home of your dreams and assist in making your transfer to an unfamiliar area easier.

To find a trained sales associate or broker, you may need to look no further than your own neighborhood or home town. If a well-established brokerage is involved in many listings and sale, this is a god sign. Speak with some of the agent's past customers about the quality and integrity of service and performance. Successful real estate agents rely heavily on customer referrals and will therefore strive to provide the very best in customer service and satisfaction.
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Timing is everything when it comes to home buying

Terese Ayers
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The old adage that "timing is everything" especially applies to buying a new home. And trying to be at the right house at the right time and get it for the right price can be tricky. Here are some guidelines to assist you:
  • Turn to the real estate section of your Sunday newspaper.
  • Monitor the market and tract home prices, watching the real estate market through advertisements.
  • Question and investigate homes that are advertised month after month. Hard-to-sell properties could either be a warning sign or simply overpriced for the value.
  • When a real estate agent provides you with descriptions of homes currently on the market from the Multiple Listing Service (MLS), ask for a list of homes that were on the market within the last six months or year in the same neighborhood. Compare asking prices to actual sales prices for the same type homes.
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