Camarillo Realtor

805 870-8082

Welcome to Camarillo California!

Saticoy Country Club

Las Posas Country Club

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Santa Rosa Valley

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Selling your home in Camarillo

At the time this article is being written the real estate market in Camarillo is hot! We continue to see low inventory and demand for median priced homes is on the rise. Selling your home in Camarillo should be fairly quick! When there's so much activity on your house how do you know which offer to take, or how long you should wait to accept an offer? These questions are critical to ensuring that you make the most money with the least amount of headaches in the shortest amount of time. Your real estate agent is your key goto person to answer these questions and address each concern. However, generally speaking, you go with the strongest offer. What makes an offer a strong offer? A large down payment for one, or an all cash offer, if a loan is being taken to purchase your house the larger the down the easier it will be for the buyer to qualify for the loan. Non contingent offers are also a good point indicating a strong offer, if a buyer needs to sell his or her property to buy yours, you now have to wait on another buyer to qualify and get appraisal and inspections out of the way. Your best bet is to take a non contingent offer, if you have a choice. Netting the most money when selling your home is how most sellers and realtors determine which offer to accept. But is that always good practice? Let's take a look at some variables that you may want to consider before accepting the highest offer. Is the higher offer an all cash offer? Is the higher offer coming in with a large down payment? (large down is 20% or higher) Is the buyer pre-approved and has the loan been underwirent by the lender? Will the buyer demand repairs or credits after the offer has been accepted or is the buyer offering a high offer thinking the property will not appraise and you will have to drop the price in the middle of escrow? Who is the buyer? Is it a family? Investor? Are you concerned if the buyer is an investor and will be renting the house as an Airbnb? Should you care? We had a seller reject a higher offer, strong higher offer, because the investors was going to turn it into a rental and the sellers didn't want to do that their neighbors of thirty plus years. Do what you ask? Sell their house to an investor so that it becomes a rental, the seller's thought the neighbors would not appreciate having renters as neighbors. Sometime renters do not take care of the properties or there is a high turnover and you get new renters every six month. If this is not important to you then highest and best offer is what you want.

Buying Real Estate In Camarillo

A place to call home! When shopping for a home here are something to keep in mind. First and foremost you must get prequalified. Getting prequalified is easy, simply call your favorite lender or bank, tell them you're thinking of buying house and want to know how much you can qualify for. They will ask you to provide them with information such as your income for the past two years, how much will you earn in the current year, and what your debt is. Knowing income and debt will provide your income to debt ratio, this ratio is what banks use to see how much home you can afford. Once the bank or lender know what you can afford to buy and you agree to move forward the next step is running your credit report. Side note: you don't want to run your credit report unless you income qualify, each time you run your credit your fico score drops. You need at least a 620 fico score on your mid number, your credit is comprised of three reporting, generally speaking, the mid number is the what most lenders look at. If already know that your credit is below the 620 you need to work on your credit before moving forward. If your credit is 620 or higher then go ahead and have your lender or bank run the report as they will need a copy of it to submit to the underwriters to get your loan approved. Which brings another point to get cleared up, your pre approval and final approval. What is the difference? Your pre approval is needed in order for your real estate professional to make an offer, almost every agent will want you to get pre approved before showing you property and it's a good thing, you don't want to go look at homes you can't afford. The pre approval is done by your bank or lender, a real estate agent can not give you a pre approval only a lender or bank can. Running your credit and doing the debt to income ratio is all that is needed to get your a pre approval. Once you look at houses and find the right one your real estate professional will write-up an offer and get it to the sellers real estate agent. If your offer gets accepted your lender or bank can start the application process for your home loan. This will require a face to face meeting with your bank or lender, if face to face is not possible, you will have to fill out all of the forms yourself and scan and email. You will eventually need to meet with your lender or bank as some of the paperwork still requires wet signatures. With all of the fraud nowadays it's a policy that's not going to change anytime soon, so be prepared to meet your loan officer or have documents mailed to you for wet signatures. Buying a home in Camarillo is very competitive, your bound to have a few disappointments in the process, be patient and be smart! Before making an offer try to get as much information as possible on from the listing agent. Have your real estate professional contact the sellers agent and probe for information, such as, are there any offers on the house, if the answer is yes, ask if they are over asking price, this will give you an indication what you ought to offer. If the sellers agent refuses to give up any intel, then your agent can guide you on making the right offer for you. This can include showing what the sales in the area have been, comparing apples to apples, and how fast the sold homes have sold, this is shown on "days on the market" of the analysis. If homes are selling fast then you need to write a strong offer, give it your best shot! Your best shot means you make a full price offer, if this is the home of your dreams, offer over asking price, if you qualify, deposit at least three percent of the offer price, placing a large deposit gives the seller a good feeling and indication of your seriousness to buy and close on his house. Camarillo Real Estate is in high demand and you need to be aggressive if you want to get your offer accepted.