Homeownership made simple.®

WHAT PEOPLE ARE SAYING ABOUT ME:

“A realtor you can trust"

"AJ is very respectful, kind hearted, excellent person to work with. Very passionate about his work, people person. Excellent work ethic. He’s the best! just wonderful person!”

"A.J. is my Guardian Angel. If he had not found companies who were willing to bill through escrow, worked with me to get the home ready and guide me through the process, I would have been stuck in here forever. He is not just my realtor, he has become my family."

KNOWLEDGE AND EXPERTISE

As a professional in Real Estate I will provide you with all the knowledge and expertise needed to ensure you receive the best return on one of your biggest assets, your HOME! There are an abundance of new homes in the San Fernando Valley just waiting for you. With a rapidly changing market, don't rely on outdated estimates or algorithms, allow a professional to calculate the value of asset, provide you with accurate information, and help you on your next venture to find condos for sale in the San Fernando Valley.

PROTECTION FOR YOU AND YOUR ASSETS

Working with a professional helps protect you physically and legally, ensures that all paperwork is filed correctly and properly secures your asset whether purchasing condos for sale in The San Fernando Valley and the surrounding areas or selling. Don't risk missing a form that can come back to haunt you later on. As an agent, I dedicate my time to ensure a seamless transaction.

BEST PRICE AND PERFECT TIMING

Whether you are in need of moving quickly or 6 months down the line, speak with me today about new homes in the San Fernando Valley and neighboring cities! I will work with your perfect timeline and will negotiate on your behalf to transform this nerve racking, experience into an exhilarating outcome at just the right time for you.

WHAT TO LOOK FOR WHEN SEARCHING FOR A NEW HOME

Searching for a new home is a large endeavor that can take months and sometimes even years depending on what you’re looking for and the area you are looking in. Before starting the process you may have a few questions about how to navigate this process which can be emotional and overwhelming at times. The best thing you can do to start this process is research; understand what you can afford, the market value in the area, get a feel for the current market your area is experiencing and understand what to expect from the process. Speaking with a local real estate agent who is experienced in that specific area is a great way to gather this information. Build a relationship with your agent, they will be your rock, your friend, your consultant and your main point of contact through this process. If you don’t feel comfortable or confident in that agent, you have the right to find another one!

KNOW YOUR TIME-FRAME

Once you have found an agent you’re comfortable moving through this process with your next step is to determine your time frame. Are you looking to make a move in the next month, 3 months, 6 months, year, 2 years even 5 years down the line? Knowing this can help you prepare for the event.

If you’re looking to move in the next 5 or more years, your first step is to understand the current market and the average rate of inflation in your market. The US Bureau of Labor Statistics showed the national average inflation rate for housing at 4.16% per year between 1967 and 2022. With a national average home price in 2021 of $293,349 and a 4.16% yearly inflation rate, you can expect the average cost of home to increase to $359,5657 by 2026. Start saving for your down payment to make sure you will have enough to put in a good down payment, the higher your down payment, the lower your monthly mortgage payment will be!

If you’re planning on moving within the next 2 years you should be assessing your financial status and your job stability. Lenders like to see a minimum of 2 years of financial stability. Assess whether you’re in a company you would like to stay with for the next 2 years or if you think your career path will change and you’ll have to start over. Make sure any career change you have over those 2 years keeps the same income level or higher.

As the time frame decreases the pressure can begin to build. If you’re about 6 months away from the time when you are planning to purchase you should be looking into local realtors, find one who specializes in the area you would like to live in. Discuss your financial situation, any debts you may have, lender options, home insurance options, inspectors and closing costs so you can set aside some funds for that. These rates vary depending on the location, amount of the loan and size of the home so these numbers aren’t always “One Size Fits All” and can fluctuate.

If you’ve done all of this research in advance, by the time you hit the 3 month mark you should be well prepared to start the journey. You should have at least one lender that you feel comfortable working with (if you don’t have one yet, ask your realtor!) and an understanding of the market and your financial ability. Now is the time to start working closely with your realtor!

HAVE A VISION

Since you’ve already built a relationship with your realtor it should be fairly easy to explain your vision. You can explain to them the area you would like to live in, they type of home (condo, townhouse, mobile home, detached, ranch, modern, Victorian, whatever you love!) the number of rooms, the amount of space and any plans you may have for the home. In addition to this, you should have a pretty good understanding of your capabilities as a home-owner and what items you would be able to repair yourself vs. what you would need to hire a contractor for, are you able and willing to fix certain items or are looking for a home that is newly built or move-in ready?

Going out home hunting without an understanding of what you want can make it difficult for all parties to find a space that is going to be a good match for you. 

1. Take a moment to do this quick exercise: Have each person write down 10 items that are “must have’s” for the home. This can include neighborhood, specific features, size, type of home, outdoor space, distance to freeways/shopping centers etc.
2. Compare your notes with the others from the household, create a comprehensive list of all “must have” items.
3. Narrow that list down to 10 total “must have items”
4. Create a secondary list of all other items that would be nice to have
5. Present this to your realtor.

• This exercise allows you to understand what each person sees as the perfect home, allows you to become a little more flexible by understanding what others want and gives your agent some concrete information to work with to narrow the search toward a match that will suit your needs.

GET A MORTGAGE PRE-APPROVAL

Having all of the “must have” and “would be nice” items understood is a great step but without your pre-approval, how will you know what your price range is? Getting a pre-approval is key for you and your agent to know what price range to look for. A pre-approval is a bit different than a pre-qualification (pre-qual). A pre-qual will give you an estimated range that the lender thinks you will qualify for based on your stated income, debts and credit score without running a credit/background check.

You may have already calculated what you can afford and checked different lenders to see the maximum amount they would lend you but without having the credit and background check completed and a full assessment of your income, assets and debts, this number is a guesstimate. Getting the pre-approval will not only help you get a concrete number that you qualify for but will also make your offer stronger when you submit it. If your lender will agree to it, having the loan underwritten for a specific amount before submitting your offer can boost the strength of your offer even more as there are less surprises that can come up through the process and can speed up the time it takes to close on the loan.

KNOW WHAT YOU CAN AFFORD

In addition to the strengths your pre-approval grants you when putting in an offer it also allows you to understand exactly what you can afford. Your lender may offer you much more than you’re actually willing to spend on a house or it may offer you less than you anticipated. 

In the first scenario, you will have the option to go above and beyond what you initially thought possible and you can then choose what number you would like to cap your search at based on your personal preferences and knowledge of the market. This also gives you some flexibility when searching. If you can’t find something you truly like in the preferred price range you can still adjust it up a bit to see if you can find your perfect home.

On the flip side, you may have your heart set on a specific home and truly believe that you can afford it, having that pre-approval will let you know if you can qualify for that home or if it might be slightly out of your reach.

SHOP AROUND

Remember that you can always shop around! Homes come and go, your dream home may not be around anymore but another opportunity will come up. Remember our exercise from earlier? Keep these 10 items in mind while looking at houses. If you find one that meets 8 of your 10 “must have” items, that may be the “perfect house” that exists in the market. Remember that this may be your current house – it can be used as a stepping stone toward your forever home.

Additionally, you may find something that’s even better than you had initially thought or you initially wanted! A great way to shop around is to view open houses. Weekends are a great time to go through open houses and you can generally find at least one in your preferred area. Ask your agent to help compile a list of open houses for that weekend and you can either go with the agent or on your own. Make sure to take lots of notes and (if allowed) pictures so you can remember what you saw. Try not to view more than 3-5 at a time as they can start to jumble together and you may confuse items that you saw in each space.

WHY SHOULD I USE AN AGENT

While I don’t recommend using ANY agent, I do recommend using an agent that you trust and have built a relationship with. Real estate agents and brokers are bound by an ethical code to act in their client’s best interest. Imagine the different outcomes between working with the seller’s agent who listed the home and has the seller’s interest in mind vs. working with a buyer’s agent who is acting in your interest.

Some additional benefits for using an agent or broker are: knowledge of vendors, paperwork, and processes that go along with buying or selling a home, knowledge of upcoming homes that may fit your needs but are not yet showing on the market, their knowledge of the current area market and so much more!

UNDERSTAND THE MARKET VALUE

Remember when I said to research the market and understand the current value of homes and the projected inflation on those? A local real estate agent who knows, understands and has a presence in a specific market will prove to be an excellent source of information. A knowledgeable agent will be constantly monitoring the market for fluctuations in prices, interest rates and will have tips and tricks for helping you find the perfect home.

Market values fluctuate constantly. You may have looked at the market 6 months ago and understood what was necessary at that time however, that information may have changed the next day! There could have been a boom, a crash, or a pandemic that throws everything into disarray. Real estate agents monitor all of those fluctuations and can be your daily point of contact to understand what the values are and are there to help you, educate you and work with you through the process.

Understanding the market value of the home you’re putting an offer in is crucial for the funding of a loan. If you were to offer a much higher purchase price because you really want to win the home you may run into problems with lending. Each lender will perform an appraisal to ensure that the amount they are lending is consistent with the value of the home. If your offer is more than they are willing to lend you may be required to supplement the difference or you may fall out of escrow later in the process. 

LOOK FOR ANY AND ALL FLAWS

During the appraisal process the appraiser will be looking for any flaws that could deem the home un-inhabitable and will be comparing the purchase price with the surrounding community to ensure that they are lending the true value of the home. Remember that you don’t HAVE to put in offer in on every home you see. While there are times when it may be necessary to act quickly (sellers market) you don’t want to undermine the actual value of the home.

In addition to this, there could be repairs or changes to the home that you may need to perform. Some repairs can be negotiated into the purchase price, closing credits or sellers repairs prior to close of escrow, others you may need to make after the purchase closes. Keep in mind the value of those repairs and ask your agent how that would affect the market value of the home.

CHECK THE SURROUNDING NEIGHBORHOOD

Feeling the energy of the neighborhood can help you decide if this property is the right fit for you. Look for items such as run down fences, overgrown yards and unregistered vehicles as this can lower the property value. On the other hand, if the area looks like the homes were recently renovated, pools, bike lanes; these items can raise the value of the home. How close is the nearest shopping center, downtown area, restaurants, recreation parks, lakes/rivers etc. Another great way to get to know the area is to meet the neighbors, see what they think, how long they have lived here, how friendly they are and if your lifestyles will mesh well with one another. Buying the home isn’t always just about the house itself; the surrounding area is a highly important factor.

DON'T RUSH

In some markets it’s unavoidable to put an offer in right away with a purchase price above asking, removing all contingencies and paying all of the fees to try to win the listing, but that isn’t always the case. When possible, it’s good to look around a bit. Find a couple homes that you like and understand what items in each space you really like and enjoy. Make a list of “must have” items and a list of “would like to have” items, this will help narrow the search when there are too many homes available to look at each one individually. Present your top 10 items to your agent and remember that, while you may not get each and every item on the list in one house, 8/10 may be your perfect home! Additionally, you may be able to alter the home to create those last couple points. 

There are stories where someone meticulously drafted the house of their dreams, hired architects to create the home, built the home, moved into the home and then decided that it’s not quite what they were hoping for and had to change some things after the fact. Rest assured that this is absolutely normal.

DON'T DRAG YOUR FEET

I know, I know… I just told you not to rush to put in an offer and now I’m telling you not to wait either! If you find a home that you are absolutely in love with but you’re not sure about putting an offer in, remember – you don’t have to move forward if you don’t want to. Put the offer in and see what happens. If your offer isn’t accepted, that’s ok. You can find another home. If your offer is accepted (provided you didn’t waive your contingencies) you still have time to retract your offer with no penalties. Making sure you fully understand the terms and conditions in your offer is essential when navigating this process – especially when you put in multiple offers on different spaces and only intend to purchase one of them.

Another reason to put in an offer now rather than waiting is that the home might not be there in a few days. Consider this, someone may have seen this same house a few days ago and today might be the day they decide to offer as well. If that happens and it’s accepted while you’re contemplating, you may not have the opportunity to submit one later.

INSPECTIONS, INSPECTIONS, INSPECTIONS!

Inspections are extremely important in determining the actual status of the home. Looking at the surface level everything may seem fine but what will you do if you move in and there is a plumbing issue, if the electrical work is faulty and causes shortages, if the roof caves in 2 weeks after moving in, or the foundation cracks and causes the home to split in half? You are now the current owner of the home and the repairs are your responsibility.

Home inspection – This is a thorough inspection of the entire home which will let you know if there is a defect of any specific area. This inspection is meant to provide knowledge of the issues that are currently present and will alert you to future issues that may arise. The inspector will check structural, foundation, exterior, roofing, plumbing, Gas, water heater, drainage systems, Electrical, Heating and Air (HVAC), interior living spaces and living environment. It will highlight any areas of concern on the property and will advise what type of contractor you would need to speak with for these types of repairs. Depending on the repair or severity of the issue, additional inspections should be performed and quotes provided for each situation.

Roof inspection – While the home inspection has already completed an overall inspection of the roof, I still recommend having this inspected by a certified roofing company as they can provide more specific details and are more thorough with the inspection. They will also provide an estimated life expectancy of the current roof and can recommend repairs to keep it in good standing for an extended period of time. 

Pest inspection – This inspection is not simply to tell you whether or not you have a mouse under your home, this inspection looks for any sign of rot, decay, mold, mildew etc. in addition to checking for rodents, insects and openings large enough to allow them into your home. They are able to specifically identify the difference between termites eating the joists and dry-rot and can treat each of these items as necessary. They will also provide a report on the entire home, any breaches they found and an estimate of repairs as necessary.

Inspections which will increase your knowledge and understanding of the home and reduce your risk of getting stuck with these damages are available! The time for these inspections is built into the purchase contract allowing you an option to negotiate the terms of your purchase or cancel if the repairs are more than you are willing to take on.

Keep a level head – don’t get desperate.

WHAT'S YOUR BOTTOM LINE?

• Before you start house shopping, be realistic about what you can afford, and tailor your search accordingly.
• Downplaying flaws could be a costly mistake, as could overestimating your ability to play handyman yourself.
• Jumping in too fast or waiting too long to put in an offer are both risky in terms of cost and what kind of property you might end up with.
• Don't overbid for fear of losing out, as it can cause problems with the appraisal, the mortgage, and reselling the house.