Riverside County Home Sellers Tips

Understanding what your home is worth can help you decide whether or not to sell, how to price your property, and whether your property is holding its value.  A good first step is to get an estimate of your home's value. Bear in mind that this estimate is based on local sales and prices at one point in time, and may not reflect other issues affecting your home's value.

What Makes Property Values Tick?
When you bought your home, you bought it for its inherent value.  Inherent value is what attracted you to the house in the first place: architecture, quality of construction, landscaping, even just how the house felt to you.  But property value, or market value depends on many other factors:

Direct Factors

• Community
  Efficient city services, adequate resources, and a thriving business district usually translate into healthy property values. So can a community's history and identity, and its perceived desirability by current buyers.
• Neighborhood
  A neighborhood that is attractive, safe, and well-located usually results in stable or steadily appreciating property values.
• Schools
  Good schools and solid property values go hand in hand.
• Amenities
  Parks, bike paths, libraries, and other amenities can enhance property values, provided that the areas are kept clean and safe.
• Transportation
  Whether it's public transportation or a nearby freeway, easy access to transportation can be a plus for property values, especially if you need to drive to a job or the grocery store.
• Zoning and planning
  Property values can be positively or negatively affected by zoning decisions and community development plans.
• Neighbors
  Courteous neighbors with well kept homes and tidy yards can increase your property values just as a peevish neighbor with a barking dog can bring it down. 

Indirect Factors

• Economic changes
  A rising economy lifts most home prices and boosts sales; a depressed economy carries home prices and sales down with it.
• Demographic changes
  Since the 1970s home prices in California have grown steadily as waves of new residents compete for a limited supply of housing.
• Disasters
  Earthquakes, wildfire, and other severe natural phenomena can decimate property values, at least temporarily.  Recurring problems can depress values permanently and affect a buyer's ability to obtain homeowners' insurance, without which no lender will approve a mortgage.
• Perceptions
  Perceptions negative or positive, real or unreal can drive property values into the ground or into the stratosphere.  It's important to know where your neighborhood stands. 

Only a real estate professional who belongs to the National Association of Realtors may call himself or herself a REALTOR�. A Realtor� is bound by a Code of Ethics and pledged to protect and promote the interest of the seller by providing fair treatment for all parties involved in the transaction.  Here are some ways I as a Realtor� can help you sell your home:

• A REALTOR� is knowledgeable of the market and gives you the quickest exposure to the maximum number of buyers.
• A REALTOR� qualifies prospects as to their affordable price range and housing needs.
• A REALTOR� knows current real estate values and can help you set a realistic, competitive price.  This skilled professional knows how to merchandise your home effectively.
• A RELATOR� is familiar with the local home-loan market and can help you determine whether seller-assisted financing may expedite your sale.
• A REALTOR� can figure the net proceeds from your sale, taking into account your outstanding loan balance, closing costs and possible owner financing.
• A REALTOR� can tap into an even larger market through referrals and marketing techniques.
• A REALTOR� frees you from problems associated with showing your home.  The REALTOR� handles phone inquiries, appointments, showings and negotiations of the contract.  Your home is shown only to serious, qualified buyers.
• A REALTOR� maintains objectivity in presenting offers and counter-offers.
• A REALTOR� can familiarize you with the closing procedures by explaining them all in advance.

• Real Estate Commission.
• Document Preparation fee for Deed.
• Documentary transfer tax ($1.10 per $1000 of sales price).
• Any City Transfer/Conveyance Tax (according to contract).
• Payoff of all loans in seller's name.
• Interest occurred to lender being paid off, Statement Fees, Reconveyance Fees and any Prepayment Penalties.
• Termite inspection (according to contract).
• Termite work (according to contract).
• Home Warranty (according to contract)
• Any judgments, tax liens, etc., against the seller.
• Tax proration (for any taxes unpaid at time of transfer of title).
• Any unpaid Homeowner's dues.
• Recording charges to clear all documents of record against seller.
• Any bonds or assessments (according to contract).
• Any and all delinquent taxes.
• 1/2 of Escrow fees.
• Title Insurance Premium.
• Home Owner's transfer fee.