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Rancho Santa Fe Condos / Buyer – Seller Tips
Rancho Santa Fe Real Estate Contract Options
Finally, the Exclusive Agency Listing allows an agent to list and market your Rancho Santa Fe real estate. The agent will earn a commission if he/she or any other agent sells the property but not if the homeowner finds his/her own buyer. Very few if any agents are willing to agree to spend time, money and know-how on promoting a home without the guarantee of a commission when the home sells.
Many people imagine that the agent who lists their home begins an immediate search for likely homebuyers for Rancho Santa Fe but this is not always the case. The real skill of a good listing agent is her/his ability to market your home to other agents. Usually as soon as your listing agent returns to the office, your home is entered into the MLS and is now available to hundreds, maybe thousands of other agents.
Rancho Santa Fe Homebuyers Quandry
First time Rancho Santa Fe homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowner’s first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The Rancho Santa Fe market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.
Rancho Santa Fe Homebuyers Quandry
When you find the home you want to buy you may make an offer contingent upon the sale of your existing Rancho Santa Fe. In a Seller’s Market, offers with such contingencies are not well received because the seller must remove his home from the market while you sell yours. However there are times when this kind of offer is successful, even in the Rancho Santa Fe market. A backup strategy might be to put in your offer with a very long escrow giving yourself time to sell your home. Very few sellers will accept these kinds of contingencies or long escrows if your house is not already on the market.
Does Your Rancho Santa Fe Have Curb Appeal?
From cottages to castles some Rancho Santa Fe have so much curb appeal that passersby can’t help but stop and admire them. When visiting property with great curb appeal, prospective buyers often experience 'Love at First Sight' and this disposes them to love the entire home before they even walk through the front door.
Rancho Santa Fe curb appeal is the result of a perfect blend of architectural style, landscaping, up-keep and color choices. Money alone does not guarantee outstanding curb appeal. I’ve seen very expensive Area homes with costly landscaping that fail to appeal and I’ve seen very modest priced Area homes with outstanding curb appeal. In part, the landscaping aspect of curb appeal is a matter of personal taste.
Rent or Buy Rancho Santa Fe
In the early years of your Rancho Santa Fe mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.
The monthly payment for a $100,000, 30-year, 8% mortgage on your Rancho Santa Fe would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters.
Rancho Santa Fe BASICS
Location, location, location pretty much describes the basics of all real estate markets and the Rancho Santa Fe market is no exception. A lovely estate home next door to a power plant or on a hill where major sliding has occurred is not as valuable as that same home in a quiet, tree-lined neighborhood. This is why most astute buyers tend to rely on real estate agents who are well versed in the community and know the area well.
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