MBA’s seasonally adjusted index of mortgage application activity increased 13 percent for the week ended June 10. That marks the index’s biggest gain since March. The index measures applications for refinancing and purchase demand.

Most of the spike was from refinancing applications, which increased 16.5 percent from last week. However, requests for mortgage applications for home purchases also rose 4.5 percent.

“Mortgage rates have declined for 8 of the past 9 weeks,” Michael Fratantoni, MBA’s vice president of research and economics, said in a statement. “Coming off of the Memorial Day holiday, refinance application volume increased significantly, as borrowers jumped to lock in the lowest mortgage rates since last November.”

Source: “Mortgage Applications See Biggest Gain in 3 Months: MBA,” Reuters News (June 14, 2011)

Welcome to our Sunnyvale Real Estate blog. Here you’ll find articles and tips that will help you:

• Sell your Sunnyvale area home
• Buy a Sunnyvale area home
• Learn more about the Sunnyvale area and what it has to offer
• Keep up with news and events of importance to home sellers and buyers in and around Sunnyvale
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Selling a home in today’s market can be very challenging. In today’s economy, where every penny counts, home sellers wonder if they shouldn’t forego hiring a REALTOR® and save the commission. However, before you hammer in that “For Sale by Owner” sign on your front lawn, consider these reasons why hiring a seasoned local REALTOR^® is a wiser choice:

1. REALTOR^®s and agents eat drink and breathe real estate daily. They are in the best position to understand today’s market because they are literally immersed in the world of real estate. They know what buyers want and they know how to prepare your home for sale.
2. REALTOR^®s know how to get maximum visibility for your home. If you’re selling a home, you’ll benefit from the assistance of a real estate agent who has access to the wide array of tools to market your home properly, including well-circulated newspapers, attention-grabbing magazines, Internet virtual tours, high traffic websites, and good old-fashioned flyers.
3. Your REALTOR^® will market your home to other agents. The real estate professional community is a tightly networked group who will market your home to other local real estate agents who can bring buyers to you based on their trust and past relationship with your agent.
4. A seasoned real estate agent has a network of trusted local professionals besides other agents. The longer the agent has been in real estate in your local area, the more highly developed their network of loan and escrow officers, home improvement specialists, trusted by-referral-only contractors, painters, gardeners and housecleaners, to name a few.
5. An established local real estate agent has a long client list. Most importantly, an experienced real estate agent has at her fingertips a world of clients, friends of clients, and clients of clients who may be in the market to purchase a home in your neighborhood, or knows someone who is. Maybe a home just like yours.
6. A local real estate agent helps separate facts from emotions. Selling a home can be a very emotional experience. Hiring a seasoned local real estate agent to sell your home provides you with the emotional level-headedness needed for objective advice, especially when it comes to evaluating offers and negotiating with buyers and their agents.
7. A real estate agent will help you get through escrow. Escrow can be harrying and stressful, but a seasoned real estate pro will greatly ease the process. Real estate agents who’ve been in the business for a long time usually have a trusted go-to escrow officer. Together they handle all the tiny details that make for a smooth transfer of title and… close of escrow. And when that check is delivered to your outstretched hand, you’ll be happy you hired a seasoned local Realtor.

These are just a few of the many reasons homeowners who hired a seasoned local REALTOR^®, like Sunnyvale REALTOR^® Pelin and Nil Erdal, felt it was the smartest decision they made in selling their home. Contact Pelin and Nil today if you want to sell your Sunnyvale home with a seasoned local REALTOR^®.

See Also:
Your Home’s Value
FAQ for Home Sellers
The Process of Selling a Home

The most important thing home sellers can do during this often stressful part of a real estate transaction is to keep in mind that the buyer wants to buy your home just as much as you want to sell it and that will help you avoid these common pitfalls home sellers face during the offer process:

1. “Stonewalling” an offer even if the offer seems insulting. Have your REALTOR^® respond to all offers politely. Don’t burn any bridges because there may come a time when what you first considered a “lowball” offer that it doesn’t seem half bad.
2. Playing ball too hard too fast. Although there is a time and a place to dig your heels in, it isn’t at the beginning of negotiations. Playing hard ball is a reserve weapon. There’s no reason to start kicking when the party is just shaking hands.
3. Getting emotional. Let the house and all its sentimental value go. When you rely on your agent to give you an objective point of view, the business aspect of the transaction becomes clearer and finally supersedes the emotions involved in selling a home.
4. Not being creative. Here’s where your agent can really pull upon experience, expertise and rapport. When facing what seems to be a checkmate, allow the agents to put their heads together and get creative. Your only job is to be open to the possibilities.
5. Going over your real estate agent’s head. It may be tempting to speak to the buyers or the buyer’s agent directly, but don’t even think about it! You destroy the trust between you and your agent and the trust between the buyer’s agent and your agent. You may even destroy the trust between the buyer’s agent and you. In a nutshell, you make everyone think you are an unpredictable live wire that can’t be counted on to follow the rules of the game.

If you really feel like your real estate agent isn’t doing what you want, sit down and have a good, long heart-to-heart, but keep the rules of negotiating in mind: Don’t stonewall, don’t play hard ball too soon, don’t get emotional and be creative.

Most importantly, we as your REALTOR^® want to sell your home for the best price, just like you do.

Are you ready to sell your house in Sunnyvale? Be sure to schedule a private and confidential consultation with us. Please call us at (408) 973-9805 or (650) 323-9805 to set up your appointment.

More information for home sellers:

• The Home Selling Process
• 4 Things NOT to Do When Selling Your Home
• FAQ for Home Sellers

Mistake 1: Setting the Sales Price Too High

You spent years improving your home with love, energy and money… but the current value of your home will not always reflect that. The unfortunate fact: a buyer can only consider the fair market value and not what you spent. Most buyers are uncomfortable asking for much less than the listed price so an overpriced home scares away a lot of potential. When selling your home, rely on your Realtor who’s in touch with real estate market trends in your area to unemotionally analyze your home’s value so you can accurately price it to sell. If the current value doesn’t make financial sense to you, it might be best to wait. An honest Realtor will wait with you.

Mistake 2: Hiring the Wrong Realtor^®

A seasoned Realtor can make all the difference in the sale of a home. Immersed in the world of real estate, a well networked and market-savvy Realtor will handle the sale of your house from the earliest preparations to negotiations to the final close of escrow, offering you all sorts of expert guidance along the way.

Mistake 3: Leaving a Vacant House Empty

But doesn’t an “empty canvas” stir the imagination when buyers come to see your home? Sure, for a few creative people, but for the rest of the world, empty rooms look lonely and depressing. While you don’t want the house full of unnecessary objects, if you have to vacate before your home is sold, you might consider staging your home. Hiring a professional stager to literally “set the stage” with well-placed furniture and decorations that emphasize lovable features of your home, and help buyers visualize themselves living there. If your home is not going to be vacant, follow tips for decluttering.

Mistake 4: Overlooking the Importance of Curb Appeal

When you’re selling our home, you want the kind of house that a passer-by won’t pass by, so you need to know what home buyers want. Why risk the loss of potential interest in your home just because you failed to mow the lawn and plant some spring flowers in the front yard? Ask your Realtor, watch TV shows and go online to reputable sites for ideas how to get the biggest bang for your buck and you’ll have buyers banging down the those pretty doors just to hand that buck right back… with interest.

Related topics if you are selling your home:
The Home Selling Process
Home Seller’s FAQ
What Home Buyers Want
The Home Selling Process

People in Sunnyvale who want to sell their home ask, “What catches the eye and captures the heart of typical Sunnyvale home seekers and transforms them into Sunnyvale home buyers?

In today’s competitive real estate market, knowing the answer to that question can make a huge difference in how long your home is on the market. Although home buyers come to the Sunnyvale real estate market with different priorities, budgets and tastes, there are certain things that just about every home buyer desires. Here are the top five — and some suggestions to get any home “buyer ready”.

1. Landscaping – Simple curb appeal has been forced to grow up into full-blown landscaping throughout. And it’s not just landscaping, but what is known as “easy outdoor living”. In locations like Sunnyvale where the weather is mild, buyers want a yard that entices them to be outdoors.Quick Fixes: Plant hearty shrubs, like lavender and rosemary, or pleasant colorful perennials. Sod is an inexpensive crowd pleaser too.
2. Chef’s Kitchen – State-of-the-art kitchens are the new status symbol. Home buyers expect a kitchen with all the pretty bells and whistles… at least to some degree. Stainless steel appliances, granite counters, natural stone backsplashes, custom cabinets, brushed nickel fixtures and plenty of light – at least one of them is a must-have in a Sunnyvale kitchen today.Quick Fix: Install new appliances for a quick makeover, or new countertops for punch, or simply reface the cabinets – easily done with paint at the very cheapest. But if your home is at the upper end of the price scale, don’t skimp in your kitchen.
3. Energy Efficiency – Today’s consumers are more aware of their impact on the environment and this carries over to the purchase of homes too. Home buyers in eco-friendly Northern California look for double-paned windows, insulation, and energy efficient appliances.Quick Fix: Insulate the attic – it’s the cheapest and easiest way to improve a home’s energy efficiency.
4. Easy Access to Commuter Routes – Sunnyvale is the heart of the Silicon Valley where the information technology revolution kicked off a whole new work ethic. So, it’s no surprise that commuter routes are a priority.Quick Fix: No need to fix anything! Sunnyvale is poised for commuting with all the major highways at the ready – from 101, 280 and nearby 85 – and commuter-friendly expressways leading right to them.
5. Good School Districts – Today’s families have an eye on the future of their children and are willing to do what it takes to set them up for success. Naturally, good schools matter, even for those without children as top quality schools improve resale value.Quick Fix: While there is no quick fix to improving your school district, you can support your local schools and become involved in improving them over time. Good schools will absolutely improve the value of your home.

For more information on selling your Sunnyvale home, contact the Nil Erdal team today!

See Also: What Buyers Want

Getting a home ready for sale requires more than simply placing it on the market. Staging a home to sell can ensure prospective buyers are convinced this is the home for them. When staging a home for sale, your objective should be to make your home as appealing as possible. From the time they pull up to the curb to the time they leave, a home should be appealing, enticing, and welcoming to potential buyers.

Staging the Inside of Your Home to Sell

Here are 3 steps to help you in staging the inside of your home for resale:

1. Clean house – When you are expecting people to tour your home, you need to make sure it is as clean as possible. Clean the floors, the counters, the wood, the windows, vacuum, etc. Everything should look as though no one has ever lived there. Use products that are natural or unscented to ensure a buyer with sensitivities is not turned off by the smell of your cleaning efforts.
2. Declutter – You will want to remove any items that are unnecessary or that hold sentimental value. Remove anything that might make the home seem to be ‘yours’ instead of ‘theirs.’ Prospective buyers want to be able to imagine themselves in this home. Remove furniture that isn’t necessary, appliances that aren’t necessary, etc. The more room you can create, the bigger the home will seem to buyers. See 6 Tips for Decluttering Your Home to make this step easier.
3. Keep things neutral, yet inviting – The more neutral the colors and the décor, the more appealing the home will be to prospective buyers. While that doesn’t mean blank white walls, try to keep bright colors to a minimum. Having some bright color accents is fine, but limit these to no more than a few per room.

Staging the Outside of Your Home to Sell

If a potential buyer drives by or pulls up to your home, the exterior appearance of you home can make or break their interest. You can use staging to your advantage outside your home too.

Here are 3 steps to help you in staging the outside of your home:

1. The outside should look clean and well maintained. Start with mowing the lawn and completing some basic landscaping work.
2. Access to the front door should be easy and the sidewalks and paths should be level and easy to walk.
3. The front door should be painted in a neutral or attractive contrasting color as well, helping to create an overall appealing look.

Getting Home Staging Ideas

If you’re still unsure of how to stage your home, take time to look at model homes in your area to see how others have done it. TV shows, like Designed to Sell and Curb Appeal on the HGTV network can also give you some great staging ideas.

You’ll notice the overall mood of the home is inviting, but also accommodating. When staging your home to sell, it should look as though it’s ready for someone to move in. And, with any luck, the buyer will make an offer and you will be moving soon too.

If you need to sell your Sunnyvale Home, contact the Nil Erdal team today to get started.

See Also:
5 Things Sunnyvale Home Buyers Want in a Home
What Home Buyers Want