Government Shutdown: True or False?

Hello it’s Monica Diaz! Welcome to my video blog! By now most of you not living on a deserted island have heard all you wanted to hear about this Government shutdown nonsense.

A lot of my peers have also produced some informative videos detailing how it may effect certain segments of the population.

The Monica Diaz Team wants to put all the rumors to rest by playing a True or False game with you, our viewers. We want you to be FULLY INFORMED of what the shutdown means and how it may or may not affect you as you attempt to negotiate/transact through the situation.

True or False: The IRS is playing a negative role in this escapade.

TRUE. Any mortgage backed by Fannie Mae or Freddie Mac must verify a borrower’s income with the IRS. Because the IRS agents are shutdown, verification paperwork isn’t being processed.

True or False: FHA lenders are also shut down.

FALSE. FHA lenders have the authority to make their own underwriting decisions and don’t need the IRS to verify incomes.

True or False: Borrowers who are already far along in the underwriting process are unlikely to be affected.

TRUE. There are skeleton staffs working at the housing administration level and they are appropriating based on a first in, first out model.  You may experience a slight delay but for the most part your loan should still close within previously established time frames.

True or False: Applying for a Re-Fi right now is good strategy!

FALSE. Anyone applying for a Re-Fi or a New Mortgage is looking at anywhere from 45-90 day wait times (and perhaps longer depending on when the shutdown ends). 

True or False: You should steer clear of Wells Fargo and other TBTF Banks until the shutdown ends!

TRUE. Wells Fargo has already gone on record and stated "new applications will not get completed until after the shutdown ends and borrowers income claims can be officially verified."

True or False: The Government Shutdown will not affect the Housing market very much, or at all.

FALSE. Honestly, if the Shutdown lasts more than a few weeks or even longer, home sales could come to a crashing halt which could significantly weaken our overall economy.

With that said, I implore all of us working inside the Real Estate business to take an active role in being a valuable communicator to your clients as we try and navigate these turbulent times. Be reassuring as much as possible to keep emotions calm asking for patience and logic and reason to rule your decision making.

Your clients will thank you for it long afterwards.

As always, if you ever know of a friend, co-worker, relative or even a member of your social communities like Facebook, interested in buying or selling property, connect with me today!

AND REMEMBER-"MONICA MAKES IT HAPPEN"!!!

Interview with Maria Howard of First American Natural Hazard Part 2

Interview with Maria Howard of First American Natural Hazard Part 2

Yesterday, we sent you the first part of our interview with Maria Howard of First American Natural Hazard Company.

Today, we have continued our interview with Maria. Watch part two of our video to learn more about the terms and conditions of the “Natural Hazard Disclosure Report.”

 As always, if you ever know of a friend, co-worker, relative or even a member of your social communities like Facebook, interested in buying or selling property, connect with me today!

AND REMEMBER-"MONICA MAKES IT HAPPEN"!!!'

The Truth About Interest Rates

The Truth About Interest Rates

Hello it's Monica Diaz!  Welcome to my video blog.  Today I want to talk about interest rates and their relevance to the current market.

As you have likely heard recently, rates moved up a bit from the historic lows of early spring.  So what does this actually mean to the average home buyer or someone thinking about a re-fi?

In the overall scope of monthly payments and lifetime cost of the loan-NOT MUCH AT ALL.  It's important to look at everything from this macro viewpoint.  If any of my viewers can remember the market from 10 years ago, (where a 6.5-7% interest rate was something to be really excited about) we should all feel ECSTATIC about current average rates which are anywhere from 4.25-4.75% for 30 year fixed loans.  Doing the math, you are still saving more than $500/month on a similar loan of equal value based on rates from the mid-2000's.

So it's important to keep this is mind when attempting to decide whether you should buy/sell now or wait.

I am very confident if you choose to purchase or Re-Fi with Team Diaz, you will receive the lowest rate possible via our exclusive Lender friends at American Financial Network.

As always, if you ever know of a friend, co-worker, relative or even a member of your social communities like Facebook, interested in buying or selling property, connect with me today!

AND REMEMBER-"MONICA MAKES IT HAPPEN"!!!

Six Steps to Represent Your Client with Precision and Efficiency!

Six Steps to Represent Your Client with Precision and Efficiency!

Hello it's Monica Diaz!  Welcome to my video blog!

In a recent video, I discussed why it's such an amazing time to be involved in the Real Estate market in So Cal. Today I wanted to try and help 'pay it forward' by offering some advice to new agents as they navigate this highly competitive marketplace.

For the purposes of this video, I offer 6 steps any new agent can utilize to represent their clients with precision and efficiency. (All of my network should view this so they too can be aware and informed regarding effective agent strategy)

First, make sure you send well written email and text messages to your professional peers.  I can't stress the importance of this enough especially when communicating with clients or other agents when submitting or responding to offers.  Well-constructed and articulately written communication will set you apart 100% of the time.

Second, be informed about the properties you are selling or offering on.  Don't be the agent who can't answer questions about unapproved additions to your listing. And if you are making an offer in an inventory crunched market, do your homework before you call the listing agent.  Ask intelligent and informed questions.

Third, submit offers that stand out.  You stand out by sending an authoritative email or letter with an offer above asking in a tactful and cooperative tone requesting you be given notice immediately if your offer isn't "acceptable" at current terms/offer price.  Let the listing agent know your clients want the property and that you are willing to do what it takes to get it.

Fourth, read the Agent Notes in the MLS clearly and carefully.  Whenever possible AVOID CALLING and communicate via text message/email acknowledging you understand the notes clearly but have a specific question or concern not covered or mentioned.  It is OK to call but make sure when you do you are direct in your communication.  Be respectful of other agent's time ALWAYS.

Fifth, make sure your client is airtight from every angle-whether Seller or Buyer.  Vet them for every possible scenario which could arise.  Be prepared and plan for contingencies based on those scenarios.  Be prepared to go above and beyond for your clients at every opportunity.

Finally, it is absolutely imperative to keep your clients informed and to be honest and transparent with them through every step of the transaction.  It is CRUCIAL to be unattached to the outcome while allowing your client to decide what is best for themselves.

As always, if you ever know of a friend, co-worker, relative or even a member of your social communities like Facebook, interested in buying or selling property, connect with me today!

AND REMEMBER-"MONICA MAKES IT HAPPEN"!!!'

4 Bdrm-3.5 Bath Covina Hills Horse Property-Amazing Value @$798k

Don't Miss Team Diaz's Newest Horse Property in Covina Hills!

A Spectacular Single Level Ranch Style Home in the Prestigious Covina Hills Area! Situated on over an Acre of Flat Land! Fully Customized and Upgraded-Ready for IMMEDIATE MOVE IN! This is YOUR NEXT DREAM HOME!

4 Bedrooms, 3.5 Bath, with Attached Garage converted into Mother-in-Law Quarters. Fully Upgraded Kitchen with Granite, New Tile and Custom Cabinetry. Brand New Carpet throughout includes Upgraded Bathrooms. Never Run Out of Hot Water with a state of the art Tankless Hot Water Heater! 2 Zone AC System and Recessed Lighting throughout! Home is also Handicapped equipped.

Tranquil Resort Like Back Yard with Professionally Landscaped Grounds, Saltwater Pool and Slate Tile Decking!

You MUST SEE to appreciate! Motorized Wrought Iron Gate Entrance. Also offers HUGE Parking Area for RV or Trailer.

This UNIQUE PROPERTY will SELL FAST-especially at this LIST PRICE! Contact us for a Private Showing! — at 20580 East Via Verde Covina CA 91724.

There will be an exclusive open house preview showing Sunday August 18th from 1-4PM.  Don't Miss It!

Viva Escrow Part 1

Today, we have an absolute treat for you! As you know we’ve been partnering up with many people in this whole real estate process and in doing so we’ve actually chosen an amazing escrow company to work with. We strongly recommend working with Juliana Tu.

She has years of experience. People on her team can speak many languages. Trust me, once you hear her speak, you’ll know why we’ve chosen her. We want only the best for our clients.

Juliana has so much knowledge to share that she actually wrote a book called ‘The Art of Escrow’ We hope you enjoy this informative interview!

Interview with Juliana Tu

So what is the purpose of having an escrow?

The escrow holder is an impartial third party who handles the transfers of the property and funds between a buyer and a seller. The reason for having this is because there’s usually a lack of trust between the buyer and seller. Because of this, there might be a necessity for having a binding contract, especially when there is a For Sale by Owner.

An escrow also handles the payoff; so we are a clearinghouse for all leans and debts against the seller before the property is transferred to the buyer.

What are the basic characteristics of having this third party?

1. Confidentiality: we need to be confidential with personal information from both parties.
2. Impartial: We do not take sides.
3. No legal or financial advice: When there is a question that concerns something that is of legal or financial nature, we ask the parties to contact their legal and financial advisors.
When the purchase contract is accepted by both parties, the contract is given to the escrow holder and that becomes the map for which the escrow holder is going to follow in order to complete the transaction.

There are a few things we look for in the purchase contract:
1. Is there a new loan?
2. Are there certain things that need to be confirmed before closing such as termite inspection or repair work?

One of the other things an escrow holder does is open up a preliminary title search. We need to make sure the seller is that actual owner of the property and we need to find out what kind of leans and debts are against him. All of these things need to be paid off before escrow is closed.

Pricing in the Southern California Real Estate Market

Hello everyone! I’m with my beautiful assistant, Alana! Welcome to our video blog!

Today I wanted to discuss the importance of price in this wonderful Southern California real estate market!

Now, in a previous blog I discussed how being in an equity position is a huge advantage due to the restricted inventory of available homes for sale. But today, I want to emphasize the importance of properly pricing even in a limited supply market.

Did you know that it is still very easy to overprice if you don’t employ the services of a trained expert? I was a certified residential home appraiser for 14 years before I became a licensed real estate professional! My expertise will help ensure that we will price your property properly, ensuring that you will receive the maximum value on that sale!

So far this year every property that I’ve sold has received multiple bids and many have sold above fair market value! I am confident that the Diaz Team will do the same for you!

As always, if you know someone who is interested in buying or selling, connect with me today 626.890.7187 or monica@monicdiaz.net

And remember, Monica Makes it Happen!!

Digital and Social Marketing with the Diaz Team

Hi everyone! Welcome back to my video blog! Today I have with me my business partner and the person who is behind all of the wonderful digital and social marketing tactics! His name is Jay Campbell, also known as the marketing expert.

Jay Campbell

It’s nice to meet all of you! Monica and I have been working together for about 10 months and in the limited time we’ve been partners, I’ve completely redesigned Monica’s brand! I’ve also tried to feature her as prominently as possible on most of the leading real estate websites and various marketing pathways!

We’ve partnered with an in-house lender, a title company and an escrow company. Essentially, what we have done is built an entire business platform where clients are able to have a seamless transaction. We’ve eliminated the frustrations that often come along with the business of real estate.

So, now is an exciting time to work with the Diaz Team and we look forward to the opportunity of working with you!

So if you or if you know of anyone who is looking to buy or sell give us a call now at 626.890.7187 or send me a quick email monica@monicadiaz.net!

Thanks for watching!

 

Beverly Hill Testimonial

Watch on your mobile device >>

Today, I have one of our wonderful sellers with us, Beverly Hill. She wanted to share her experience with the Monica Diaz team with you!

Beverly Hill (Summary)

I knew I wanted to sell my home, but I had no idea where to begin or how to find a realtor. I called a friend of mine whom I greatly trusted and asked if he knew of anyone. He recommended Monica.

I knew from the first appointment she would get things done. She was so helpful in explaining the process to me. I had so many questions and felt so overwhelmed. I had been living in my home since 1978, selling it was like saying goodbye to a friend; it is an emotional situation.

I had a family contact me offering to pay $850,000 cash. I was so relieved to hand all the communication over to Monica.

Not only was Monica able to get $400,000 over the asking price, she did it in just two weeks. When Monica says she can get it done, she is telling the truth!

Selling a Home in a Seller’s Market – 4 Easy Steps That Will Get You More Money

Watch on your mobile device >> 

Google “selling a home” and you’ll end up with millions of hits with tips, tricks, to-dos and what not to-dos. But if you can see past all the fluff and get right down to the bottom line, you confirm that all you really want as a seller is top dollar and you want it fast.

Team Diaz knows the business of selling homes and we’ve been through it in all types of markets. Buyer-centric markets tend to make it necessary for sellers to pull out all stops while a sellers’ market like we are experiencing these days dictates something else altogether.

Here is our four-point strategy that we think you need to be doing to prepare your house for sale. Nothing else. It doesn’t need to be complicated. It doesn’t have to cost an arm and a leg. Being in the amazing market that we are in right now – you don’t have to do that much!

Bring It Up to Code
Read up online (or ask us) to find out the standard items that home inspectors look for – then go get it done in your house. Make sure the home complies with safety and building code and if not, hire a contractor to get it done. Some things are easily resolved yourself such as replacing smoke and carbon monoxide detectors or ensuring your water heater is properly strapped in place.

Let There Be Light (and Air)
One of the first things buyers look for is the flow of a house. Not only does this apply to the floor plan but also in terms of how much light and air flows through the space. The last thing you want to do is to have a buyer walk away because they were unable to see the potential in a home if it wasn’t set up right. Make sure you open windows, highlight open spaces and stage the house so buyers can see all that it has to offer.

Break Out the Broom
Have you ever walked into a dirty or cluttered space and felt good? Of course not! So when you’re selling your home keep buyers’ impressions in mind as walk through the house. Are there piles of stuff lying around everywhere? Make your home inviting and welcoming with the simple step of cleaning it up, making it fresh and allowing buyers to visualize their own lives in the space.

Don’t Go Into Overdrive
One of the biggest mistakes sellers make is to renovate, rebuild and remodel before selling their home. The problem with that is that buyers may or may not like your choices. Rather than the money being recovered in your sale price as you would have wanted, renovating often backfires and turns buyers off. No need for overkill – just sprucing up the place with some simple decorating and staging changes will do the trick. And if there is a serious need for updating – reflect it in the price so buyers can make their own design choices.


~

Aside from the obvious steps to take when preparing your home for sale – the most important thing you can do is to align yourself with a really strong real estate team that will get the job done! Contact us today for a free home value report and for a walk-through with some more suggestions for your home. Remember – Monica makes it happen!

Check out this AMAZING INVESTOR OPPORTUNITY in PASADENA!

Watch on your mobile device >>

A 26,400 Foot Lot with a 2Bdrm-1Bath turn of the Century Craftsman Home located in the prestigious Michilinda Park Area.

You will not find an opportunity like this anywhere. There are multiple 3 Million Dollar Homes on smaller lots in this neighborhood. Think 300%+ ROI with a tear down and rebuild. All of this can happen in less than 8 months in this market!

The Bidding starts at a super low price of $948k!!! Contact Team Diaz ASAP.