Redfin pulls plug on iBuyer program

Redfin pulls plug on iBuyer program. RedfinNow, which generated 40% of the brokerage’s Q4 revenue, was suspended amid coronavirus crisis.

“On March 18, 2020, we announced that RedfinNow, our business that buys homes directly from homeowners and resells them to homebuyers, will temporarily pause making offers on homes,” the company disclosed Wednesday in a filing with the Securities and Exchange Commission.

In a statement, Redfin CEO Glenn Kelman said that the decision was made in response to the ambiguous nature of the housing business right now.

The decision comes at a time when the platform was rapidly scaling. It was live in 13 markets and saw a 407 percent increase in the number of homes sold in 2019, over 2018.

Zillow and Offerpad, were still buying homes as of Wednesday.


Keller Williams San Diego launches new home search app

Keller Williams San Diego has launched its new neighborhood-based home search app to coincide with the updated website that was launched earlier this year.

The new home search tool is web- and app-based, and aims to give homebuyers and sellers a deeper understanding of the city they are searching in by neighborhood.

  • Guide, a fully-customizable client companion, facilitates the entire transaction from search to signing on the dotted line.
  • Win consumer loyalty by refining their search with leading-edge functionality to find what they’re looking for, faster.
  • Give home buyers a deeper understanding of the neighborhoods that interest them including market and lifestyle information.
  • Whether they’re looking for their next home or their dream home, help clients organize, rank, and then discuss their favorite listings.


Having Curb Appeal For Your Home!

Curb appeal is something that a lot of people currently do not understand – hell, if I was to sell my house in Palm Springs right now, I would definitely have to do a lot of work in order to make it look beautiful on the outside.  However, if you are selling your house, it is very important to understand exactly why curb appeal is important and how you can achieve the curb appeal in order to truly help your sale.

Curb appeal is basically making your house on the outside look very sellable.  Face it – no one wants to buy a house that does not look beautiful on the outside, I know, I go by looks alone before even trying to stop to look inside.  You should take that approach to the outside of your home and ensure that you are all in order there.

A few flowers and definitely a freshly cut bed of grass can truly make all of the difference for you – so make sure that you keep it up!


The biggest mistakes in real estate that you should avoid

Real Estate Mistakes

As we welcome the new year, we list down some of the worst but most common mistakes we make in buying your selling your home:

Not making enhancements to showcase your home better

If you are selling your Palm Springs home you should think of how house hunters will be seeing your property. Minor enhancements are necessary and you can hire a Real Estate agent to help you with this. You can have your furniture re-arrange so it will look more pleasing to the buyers. Stage your home right and you can increase its potential in the real estate market.

Sky high selling price

You need to do your research well so you can put the right tag price on your home. You have to compare it with nearby homes and see how you can price your home. You can have a sale price just in the middle of the going on prices in your neighborhood rather that start high and bring it down after which might put an impression on buyers that something is wrong with the property.

Buying what you want

There is a big difference with what you want and what you need. If you buy according to your wants, then there is something wrong and you may be wasting a good portion of your hard earned money. Shop for a house which will answer your needs. Make a list of your needs that you want to see in your new home and look for features that will address them as you shop around for a real estate property.

Visiting the property only once

If you are buying a home, you may want to schedule multiple visits to the property. The community it is in may be different depending on the time and day of your visit. It is also good to think things carefully and not falling in love at first sight.

Not having a realistic budget

If a bank pre-qualifies you for a few hundred thousand dollars, it does not necessarily mean that you can really afford to pay it. Do the math and see if how much you can afford for amortization for a new home. Make sure that you will be comfortable taking into account your monthly spending and any potential emergency costs.


Tips For Selling Your Home!

Selling your home in Palm Springs is a difficult task – to be honestly, it is actually extremely hard, especially in these conditions of the economy right now.  If you are one of the many people that are selling their home right now and you have no idea go to really go about it, well, that is what I am here for … to help you figure out how to sell your home and get it off the market!

To be perfectly honest, selling your home is something that should be left up to the real estate agents.  That is what their job is and that is certainly what you should be hiring.  Finding the right real estate agent can be hard though.

You want to find someone that has a lot of passion, that way you can make sure that they actually are passionate about getting your house off of the market!

There are a lot of reasons why homeowners are putting their homes for sale. Several scenarios are pushing them against the wall and forcing them quick sell their houses.


The threat of eviction and repossession gives homeowners very limited choices to get out of the situation. A lot of homeowners struggle with debt and negative equity especially those who bought their homes when the market was still very strong. You can ask the help of property specialist to do a quick sale of your home so you can stop repossession. There are also real estate companies that can arrange rent back options for struggling homeowners.

Debilitation debt

Owners want to sell their house fast when they cannot keep up with their mortgage payments or if they struggle with the increasing cost of daily living. Desperate homeowner can seek for rescue schemes that will acquire their houses at fair market prices.

Emotional situations

Homeowners can also sell their house fast if you are amid an emotional difficulty brought about by bereavement, breakups, or divoce.

Emigration or relocation

Quick house sales are also being done by those who need to move to another city or state. A lot of people are on the move to follow better opportunities.


Houses are also being sold to pay off large debts. Selling your Palm Springs house is one way to get a lump sum to pay off other debts. This maybe the worst reason to do a quick sale but a lot of homeowners run out of options.


Reasons to Sell Your Home in the Fall

Reasons to Sell Your Home in the Fall

Spring may have higher demand, but it also comes with higher inventory. Your home listing in the fall means less “competition” for you and possibly a better offer. Make sure you have done a great job of addressing curb appeal, staging, and cleaning to help your home really shine.

Buyers who are shopping for a new home in the fall or even in the winter usually have a strong reason to do so. Their motivations could include a recent job transfer, a desire to have their kids in a new school prior to mid-year breaks (or, if it’s early enough in the season, before school starts), or wanting to celebrate the holidays in a new space.

With more families wanting and needing multi-generational living spaces (think of the sandwich generation with both teens and aging parents sharing a home), the search for a home could be a longer process, pushing the process beyond spring’s peak.


What To Know When Pricing Your Home

One of the most daunting parts of selling your home is deciding what to price it at. You don’t want to price too high and get little to no traction but you don’t want to price too low and undervalue your home. There are so many things to take into consideration, so we’ve outlined the top 3 things you should do before you list.

Enlist the help of a local expert.

Local real estate agents near you have years of experience in the market you are selling in, plus have a lot of industry expertise to bring to the table. They will factor in the unique offerings of your home and neighborhood and your wants and needs for the sale of the home to help you properly price.

Research homes for sale in your neighborhood.

It’s always a good idea to do a little recon on homes for sale in Palm Desert. View current and past listings online to find homes that have similar features and were built around the same year as yours to get an idea of prices. Open house in your neighborhood? Take time to pop by in person and get a feel for what their home has to offer at what price.

Remove the emotion.

Whether it’s your first or fourth home, it is the setting of so many amazing memories and holds a special place in your heart. Unfortunately, emotional attachment to your home can cloud your judgment when pricing it. Try to place your personal feelings about your home on the back burner and focus on tangible features of your home that add great value.


Green Your Home

Did you know that the housing and building industry accounts for nearly 40% of the world’s energy and raw material consumption? Our ability to “green our homes” truly has the ability to change the world. The principles of green are really about understanding priorities for a well-lived life—living healthy, being smart with money, and acting more sustainably.

We typically spend more than 80% of our nonworking or commuting hours inside our homes. Because we spend so much of our lives inside, it only makes sense we make a healthy inside zone the first priority. Here are a few DIY tips from Green Your Home to get you started:

1. Cross-Ventilate. An average adult takes in more than 14,000 breaths—or about 3,000 gallons of air—a day! Surprisingly, you are more likely to breathe polluted air inside your home than outside—even in cities like Los Angeles, which aren’t known for air quality. Opening one window won’t cut it… you need cross-ventilation so the breeze actually blows though your home, taking the pollutions back out with it. Open a front door and a back door, or one window upstairs and one downstairs.

2. Lighten Up. Simply swapping out the five most commonly used incandescent bulbs for CFLs or LEDs in your home can save you $60 to $100 a year. Combined with well-designed artificial lighting, natural lighting is also a great way to boost efficiency.

3. Low Flow. American families use about 400 gallons of water a day, and 70% of that is used inside the home. The majority is used in the bathroom: the average person flushes the toilet 2,500 times a year. Transform your home’s toilet from water-waster to water-miser for cheap. Place a brick or 2-liter plastic bottle filled with water into your toilet’s tank. The volume of these objects means less water will be needed to fill your tank—you’ve just created your own low-flow toilet. Also, be sure and have a leaky or running toilet fixed by a plumbing professional immediately.

When you’re looking to buy or sell a house, you want a real estate agent near you. Get an unbiased list of top real estate agents in Palm Desert.


What is short sale?

Until till the last three years, many real estate agents did not really know what was involved in a short sale. In the last several years, short sales have become very common in the residential real estate market and now represent approximately 25% of the residential real estate in San Diego County. If we combine the bank foreclosures and short sales together, the distressed sales account for over fifty percent of the residential transactions. My transactions are focused on commercial sales and leasing, but I expect to see the short sale activity increase in commercial property sales.

I will take a few lines to define a short sale: When the owner of a property owes more than the current market value and the owner is unable to make the monthly mortgage payments, the owner can request the lenders to sell short, or sell for an amount less than what is owed on the loan. The definition of a short sale is much easier to understand than to negotiate with the mortgage holder. It is important to note, that the owner of the property should request the lender to not seek a deficiency judgment from the owner. A deficiency is the amount of the loan balance less the money brought in from the short sale.

Now, you may ask, what impact does this have on commercial property sales? We have seen the impact of the short sale and REO (bank foreclosures) on the residential market sales. This market downturn is having a similar impact in the commercial market. We will see more of the same for the next several years.

It is important to understand that there are advantages to the lender and the distressed owner to cooperate on selling the property as a short sale. The property owner is unable to make the loan payments and will lose the property as a result. It is more costly for a lender to foreclose and it takes longer to foreclose than a short sale. If the lender agrees not to seek a deficiency judgment against the failing property owner, both the owner and the lender will lose less time and money.


Real Estate Investment Retirement Program

This is a real estate investment program using the funds from a self-directed IRA or self-directed 401K accounts of an individual to invest in income producing properties in Southern California for a define time period as selected by the investor, wherein the individual will obtain tax deferred capital appreciation on the investment properties and a portion of the cash flow after expenses.

Through this investment program, an investor, at his election, is able to obtain growth of his invested capital (asset growth) on a tax deferred basis over a period of years – possibly up to 30 years. The objective of this program is long term capital growth for retirement.

The investment program will be offered by the Sponsors, who will select a series of qualified real estate income producing projects for the investor’s consideration. Each project will have an investment time period between 5 to 7 years to maximize the growth of profits (by timing the sale of the project as determine by favorable market conditions). At the end of each investment period, the investor may elect to have his initial invested capital and the tax deferred profits reinvested in subsequent income producing project(s) offered by the Sponsors, or have the investor’s net proceeds disbursed to the investor. The Investor’s investment period at his sole election, could be limited to 5 years or as long as 30 years.

Each project will be financially structured to maximize the investor’s long term capital growth for retirement. The investors shall receive a guaranteed annual cash flow rental income from rental income (tenant leases after expenses and reserves). To create capital growth and to minimize risk, each project will be leveraged by project debt financing not to exceed 55% of the project’s purchase price.

The Real Estate Investment Retirement Program will be professionally managed by the Sponsors who have over 30 years of local San Diego experience in real estate investment, asset management and brokerage.

Program Advantages:

  1. The Investment Retirement Program is specifically structured to obtain maximum growth of invested capital, on a tax deferred basis, over a period of years, or a time period as selected by the individual investor, (Dedicated Retirement Program)
  2. All investor capital will be invested in selected income producing real property (projects) that will have the capability of raising the rents annually, thus creating profits each year to minimize the effects of inflation on the initial investor investment (Asset Preservation).
  3. Ownership of leased income property can provide an investor with increased income as rents tend to rise in inflationary periods (Inflation Hedge).
  4. Investment in income producing real estate properties generally creates higher yields or returns than many other competing investments (Higher Yields).
  5. All investment properties acquired for the Investment Retirement Program will be located in the greater San Diego area (Local Real Estate).
  6. The project investment will be professionally managed by the Sponsors and its local based, San Diego affiliated operating companies (Local Management).
  7. The investor will receive guaranteed annual distribution of income from tenant leases after expenses and reserves, (Investor Guaranteed Income).
  8. Investors will have the right to invest in the series of real estate investment projects offered by Sponsors, or opt out at the end of any investment term. The Investor’s investment term could be limited to 5 years or as long as 30 years (Investor Discretion of Investment Term).
  9. Investors will have an annual right of redemption of their initial invested capital by offering their share interest in the project to the other project investors. The redemption value will be determined solely by negotiation between the investors. The Program will also have a repurchase program in the event the investor’s funds are needed for an emergence or for unplanned event. (Investor Right of Redemption).
  10. Now is the time to invest in income producing real property after the very steep decline in real estate value since the peak in 2006. The worst price decline is over and attractive purchase prices can be obtained (Recovery of Real Estate).
  11.  Investments will be acquired in the multi-family asset segment (apartments).  The demand for rentals has significantly increased as residential foreclosures have mounted; this demand has been compounded by very little new multi-family construction to meet this increased demand. Experts agree that multi-family rents are increasing and this trend is anticipated to accelerate in the future. (Multi-Family Preferred Asset Investment).

Work with agents who sell homes fast

The right real estate agent won’t let your home sit on the market and lose value. Use average days on market data to compare real estate agents on how fast they’ve sold homes like yours and find a top real estate agent in San Diego who can save you time and money.