 What you should look for when hiring a Realtor... There are so many choices for a real estate professional. Does it really matter who you choose to represent you when you buy or sell a home? With so many real estate agents out there, how do you know who to hire to represent you? What traits make a great Realtor? Here is what home buyers and sellers should look for when choosing a Realtor. Now, more than ever, experience and knowledge matters in real estate. In challenging times, you are best served by a seasoned real estate professional who can help you navigate through a transaction that can often be complex and with frequent changes in the market that can affect the outcome. Successful Realtors train to compete and prevail daily. What does it take to be a successful Realtor? Success in the real estate profession can be measured in different ways. One measure is the Realtor’s sales volume recorded in the MLS. This measure can be misleading. There is a popular real estate team business model that highlights only the team leader and the other team members contribute to the team leader’s sales volume without getting any credit for their own sale transactions. The super star team leader is taking full credit for the sales volume of others and the client is led to believe that the team leader is doing all the work. Often, the client ends up working with a less experienced junior team member instead of the team leader they hired. Focus on the individual performance of a Realtor. A more meaningful and relevant measure of success is defined by the number of referrals from their clients to friends, family, and co-workers. This measure is a good indicator of a job well done for their clients. High sales volume from a large team does not guarantee that your experience and outcome will be positive. You might be better served by more individualize service and expertise…handcrafted artisan versus a high-volume selling machine approach. What drives a good Realtor to become a great Realtor? It is the work ethic, the focus, and the competitive drive! The perseverance, the training, the mental toughness, and it is the way you show up to power through the day to get results for your clients. It is your internal drive to make a difference in someone’s life. You do so as a role model, a parent, a significant other, a sibling or a friend. You do what you do every day to make a difference on your own scoreboard in life. Our scoreboard to measure a Realtor
The best Realtors have these traits…
Clues to indicate that you are hiring the right Realtor…
Discover how we can help you reach your goals... Representing homeowners & buyers with local real estate expertise and over 1000 successful real estate sale transactions since 1985, including Buyer Representation, Homeowner Representation, relocation transfers, Investor Representation, and professional home preparation for sale and staging services. Work with us. Win with us! Pete Sabine & Jennifer Lucas Team Modern Agent Call or Text 925.787.2548 Dudum Real Estate Group DRE #00889760 #01943793 
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 In the wake of the LA fires, some insurance claims are in dispute of being covered or have been denied because the title of the real property is held in a trust and the Insurance policy is under the individual homeowner's name.
An insurance carrier can potentially deny a claim if a home is titled in a trust or LLC, and the insured party of the insurance policy is under the individual homeowner's name. The ownership structure on the title must match the named insured party on the policy to ensure proper coverage. Check your homeowner insurance policy and consult with your insurance agent. You might need to add your trust or limited liability company (LLC) as the insured party to avoid a dispute or claim denial. Pete Sabine Real Estate Consultant Call or text 925.787.2548 [email protected] Dudum Real Estate Group DRE #00889760  Navigating the Real Estate Market...Q4 Strategies for Home Sellers and Buyers
 Buy your next home first - then sell your current home Option #1- “Cash out” refinance of the existing loan for your current home Pros
Option #2 - purchase contract is contingent upon the sale of your current home Cons
Sell your current home first - then buy your next home Pros
Keep your current home - buy next home now Convert your current home (primary residence) into rental property (income property)
Cons
Why a seller may opt to consider compensation to the buyer broker or concessions to the buyer9/18/2024  When a property is listed for sale, the seller and their agent work together to create a strategy that positions the property to its best advantage when it goes to market. The considerations are many and include but are not limited to marketing campaigns/strategies, preparing the property to show in its best light through repairs, refreshes, or staging, thorough evaluation of comparable listings and sales, and so much more.
Another consideration the seller may wish to weigh carefully is whether or not they would consider an offer of compensation to the buyer's broker or a concession to the buyer. This is an essential evaluation because some buyers are simply not flush with cash. In the new real estate landscape, Realtors® and MLS participants must enter into a written agreement with buyers before touring the property. Based on the written agreement, the buyer would be responsible for paying their broker for professional representation. It would benefit buyers who cannot fulfill that obligation to receive financial assistance from the seller. Buyers must be prepared to pay lender, appraisal, escrow, and title fees, as well as inspections, potential repairs to the property, home warranty protection, and the list goes on. Suppose a seller is willing to consider offering either a contribution to the buyer’s obligation to pay their broker or a concession crediting the buyer directly at closing toward costs and fees. In that case, it may appeal to a buyer who might otherwise not have the liquidity to move forward with the home purchase. Another reason a seller may wish to consider paying the buyer broker would be to forestall the risk of a “self-represented” buyer. Buyers who do not work with brokers may not fully understand the transaction process, which may lead to delays and misunderstandings during the negotiations and throughout the escrow process. In addition, some sellers have indicated concerns about a buyer not being able to fulfill their obligation to pay their broker at the last minute, which could derail the closing. These are just a few factors that a seller may consider, Consumer Choice is the order of the day. The Realtor’s fiduciary duty to their client is to provide options, discuss the pros and cons, and let the client decide. Pete Sabine Real Estate Consultant Call or text 925.787.2548 [email protected] Compass DRE #00889760  Down payment assistance for first-time California home buyers relaunches with new lottery.
California is set to allocate an additional $250 million in down payment assistance to first-time homebuyers this spring. This move comes as the state makes adjustments to its program, which is designed to reach a more diverse group of borrowers across California. Last year, the California Dream for All loan program, which offered homebuyers financial support, quickly exhausted its $300 million budget in just 11 days. While the program was highly popular, there were concerns from some Realtors and lenders. They observed that some recipients of the funds were already well into the process of buying a home, raising questions about whether the loans were going to those who could already afford homes. In the upcoming round of the program the state will continue with its "shared appreciation" lending model. This means that first-time homebuyers will receive assistance towards their down payment, up to 20% of the purchase price or $150,000, whichever is lower. In return, the state will be repaid the loan amount along with a portion of the home's appreciation when it is sold in the future. To prevent a rush for the loans, the California Housing Finance Agency, which oversees the Dream for All program, is replacing the original first-come, first-served approach with a lottery system. Homebuyers will have until April to find an approved lender and begin their application process. The lottery will open in early April, giving buyers a month to submit their applications. Around 1,700 to 2,000 fortunate lottery winners will receive vouchers that they can use within 60 days to purchase a home. The extended timeline aims to assist Californians who are uncertain about their ability to buy a home without state assistance. Eric Johnson, a spokesperson for CalHFA, mentioned that the program targets individuals with stable incomes, decent credit scores above 660, and the aspiration of homeownership. This extra time allows them to become motivated, seek out a loan officer, and work on improving their credit score or managing their debt-to-income ratio with the help of loan officers or brokers. Californians interested in applying for the program can visit the California Dream for All website for updates or join CalHFA’s homebuyer email list. Pete Sabine Real Estate Consultant Call or Text 925.787.2548 [email protected] Compass - DRE #00889760  FHFA just raised the baseline conforming home loan limit 2024 by 5.5%.
This aligns with rising home prices, maintaining balance. The Conforming Home Loan Limit is now $766,550 and High Balance Conforming Loan is now $1,149,825. These limits are effective immediately, so you don’t have to wait till January to take advantage. What does this mean for you, whether you're buying or selling? Buyers: 1. Increased Affordability: Higher loan limits provide more purchasing power. Explore homes that were previously out of reach. 2. Interest Rates: Monitor loan interest rates for potential shifts Sellers: 1. Expanded Buyer Pool: Higher loan limits attract more buyers. Consider this when pricing your home and highlighting your property value in marketing. 2. Quick Decision-Making: Buyers may be more decisive. Present your property well and be prepared to move quickly. The 10 year Treasury bond rate is now below 4.3% This means lower home loan interest rates. YAY! Pete Sabine Call or text 925.787.2548 [email protected] Compass #00889760  The new AB 1033 law passed in California allows property owners to sell their Accessory Dwelling Units (ADUs) separately from the primary residence, following the same rules that apply to condominiums. Homeowners may also choose to move into their ADUs and sell their main home. This new legislation marks a significant change to the traditionally stringent zoning laws and aims to address the state’s pressing housing needs.
The primary intent of the ADU Assembly Bill 1033 is to address California’s housing crisis by providing more affordable and accessible housing options. The legalization of ADUs not only increases the property value but also opens up opportunities for rental income. AB 1033 introduces two main provisions. First, it allows ADUs to be sold separately from the main residence, creating greater housing density and more affordable homeownership options. Second, it supports a simple partition in-kind of single-family homes, which reduces the need for lengthy and costly legal proceedings. The new law will only take effect in cities that “opt-in” to the law governing ADUs under the same rules as condos. ADUs will have different property taxes from the homes they’re built beside, and each property will be required to form a homeowners association to assess costs for maintenance of shared spaces between the home and ADUs. Another requirement is having separate utility meters for gas, electricity and water services. This new legislation enables homeowners to capitalize on their existing equity by selling ADUs built on their properties. It is expected to help people looking to buy starter homes amid California’s housing shortage and high prices while lightening the burden of homeowners, especially elderly ones who may have paid off their homes but have relatively little income. The new law is set to take effect on January 1, 2024. If you have any questions, feel free to reach out! We can provide resources for contractors that specialize in ADU construction. Pete Sabine & Leslie Whitney Visit OurFiveStarTeam.com Compass DRE #00889760 When the last Trustee has deceased, the designated Successor Trustee is burdened with the disposition of the assets within the Trust and there are specific requirements of the Successor Trustee(s) under the California Probate Code 16061.7
Minimum Required Successor Trustee Tasks:
Minimum Required Successor Trustee Tasks: Probate Code 16061.7
The “16061.7 Notice” must include the following information:
Minimum Required Successor Trustee Tasks: TIN and Assessor
Successor Trustee Duties
1.Don’t withdraw cash from the trust checking account!
Successor Trustee Requirements For Real Property
WE RECOMMEND CONSULTING WITH LEGAL COUNSEL TO CONFIRM & VERIFY THE ABOVE INFO Subscribe to the Cunningham Legal YouTube Channel www.YouTube.com/@CunninghamLegal Cunningham Legal - Office Locations Northern California
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Pete Sabine & Leslie Whitney Call or text 925.787.2548 Compass DRE #00889760  The solar industry is booming. As of 2019, there were more than 2 million residential solar installations in the U.S., and that number is projected to double by 2023.
One way builders and homeowners are looking to install solar systems is through a lease or power purchase agreement (PPA) (i.e., a “solar agreement”) with a third-party solar provider. But solar agreements are known to create unique challenges when selling a home. If you own a home with a solar agreement, your Realtor may be able to help you navigate potential complications with the sale. SOME ISSUES THAT SELLERS MAY EXPERIENCE INCLUDE:
5 TIPS FOR A SMOOTH CLOSING START EARLY Contact the solar contractor company early in the selling process whether the property is tied to a solar agreement. The terms for transferring a solar agreement may impact the marketability of a property, and disclosure to potential buyers is important. REQUEST A COPY OF THE SOLAR AGREEMENT Provide a copy of the current solar agreement to your Realtor. If you don’t have a copy, you should request it from the solar company. SEEK ADVICE Unfortunately, misconceptions about solar agreements are common. It’s important that buyers and sellers fully understand the terms of their solar agreement, including its transfer rights and requirements at the time of the sale of the home. Many solar companies have dedicated representatives to assist with the lease transfer process, but you may wish to consult with an attorney first. COVER ALL YOUR BASES When selling a home subject to a solar agreement, it helps to work with a trusted title company that can alert you to potential title problems that need to be addressed prior to closing. KEEP LINES OF COMMUNICATION OPEN Early in the process, provide your Realtor should provide the closing team with as much information as possible about the transaction. What they don’t know could cause delays to the closing process. Pete Sabine & Leslie Whitney Call or text 925.787.2548 Compass #00889760 |
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