Prudential Dominates Conejo Valley Real Estate

Prudential California Realty continuously holds the top spot in the Conejo Valley for total sales volume!  AND, in addition  to holding the highest average sales price nationwide, we also maintain the highest sales price locally!  Congrats to all of our hardworking Prudential Agents

Learn The Lingo - Helpful Real Estate Terms

Adjustable Rate Mortgage (ARM) - A mortgage where the interest rate is subject to change over the term of the loan as

determined by market influences such as interest rates on Treasury securities.

Amortization - The process of paying debt by installments of principal and earned interest over a fixed period of time.

Annual Percentage Rate (APR) - A measure of how much interest credit will cost, expressed as an annual percentage.

Closing Costs - All fees and charges paid at closing for services including the lender or mortgage broker, and certain other fees paid to third parties for services that the lender requires the borrower to purchase.

Credit Application - A form used by a lender to obtain personal, financial and credit information to appraise an applicant’s credit worthiness.

Discount Points - A lump sum paid to the buyer’s creditor to reduce the cost of the loan. This payment can either be required by the creditor or volunteered by the seller in a loan to buy real estate.

Equity - The financial difference between the current market value and the amount owed.

Escrow - Property or money held by a third party until the agreed upon obligations of a contract are met.

Fixed Rate - The rate of interest charged for credit that does not change over the life of the loan.

Foreclosure - The legal action of the lender to take back possession of any property used to secure repayment for the loan when a debtor fails to meet the payment obligations.

Lien - Legal document used to create a security interest in another’s property. A lien is often given as a security for the payment of a debt. A lien can also be placed against a consumer for failure to pay what is owed.

Loan Origination Fee - The fee lenders charge for making a loan. Example: 1% for a $100,000 mortgage equals a $1,000 loan origination fee.

Market Value - The worth of something determined by a willing buyer and seller in an open market. Market value can fluctuate depending on supply and demand and other market forces.

Multiple Listing Service (MLS) - An online database of available listings that licensed real estate professionals use to access detailed and property information that is not available to the public

Principal - The original balance of money loaned. As the loan is paid over time, the principal is the remaining loan balance.

Property Taxes - The annual real estate taxes charged to property owners based on the assessed value of the property.

For first time homebuyer information, or if you are looking to buy or sell a home in Ventura County, please visit www.prucalhomes.com or call 888-352-1652

Homeowner Advice: Get Ready for Fall!

Fall is just around the corner. To retain your home's best value, it's important to stay on top of projects and repairs, both large and small. Seasonal maintenance is a great way to be sure new issues are quickly addressed. Small repairs may seem insignificant, but letting them add up over time means an overwhelming list down the road. 

Take a personal inventory of repairs that need to be addressed. These could range from paver stones that need replaced in a patio to a large-scale roof replacement. Walk your home from top to bottom and make a list of issues. Look for paint that needs retouched, tiles that need grouted, loose or scuffed baseboards, broken screens, squeaky doors, and everything in-between.  Budget and prioritize what can be addressed now, what needs a professional to fix, and what needs to wait for available funds.

Be sure to address each of these issues each Fall:

Call the HVAC guy: Your unit has been working hard all Summer during this brutal heatwave. Now is a great time to service your unit before the hard work of Winter.

Check and clean chimney: Dirty chimneys cause hundreds of home fires every year. Be sure to have a professional clean and inspect your chimney each Fall.

Clean the gutters: It's not just about appearances, though clean gutters do look better. A clogged gutter system can back-up water on your roof and cause leaks.

Yard maintenance: Be sure to rake leaves and pick up downed limbs during Fall. Empty and put away flower pots. Address flower beds and put down new mulch for a clean appearance. 

 Fall is a great time to address the needs of your property...all in beautiful weather. Take an inventory of your home's needs and be sure to follow through with proper home maintenance. Your home's value will thank you.

To list or sell a home, or to search for real estate in Ventura County, please visit www.prucalhomes.com or call 888-352-1652

PRUDENTIAL NORTH RANCH OFFICE NAMED #1 IN WESTERN U.S.

Prudential California Realty is pleased to announce that the Westlake Village / North Ranch office has been named the number one office in the Western United States throughout the Prudential Real Estate Network for the second quarter of 2012.

The Westlake Village / North Ranch office is home to real estate agents with the Fine Homes International designation. Prudential Real Estate has established minimum qualifications that a sales professional must meet in order to receive the Fine Homes designation. Typically, Fine Homes agents represent properties in the top 10% tier of the local market, and they represent affluent buyers and sellers throughout Westlake Village and the Conejo Valley area.

Broker/Owner Bob Majorino says, “The upper-end market is alive and well in and around Ventura County, as evidenced by the exceptional sales volume from our North Ranch office. There is so much buying activity right now, there has never been a better time to sell.”

In addition to the success of the Westlake Village / North ranch office, Prudential California Realty continues to dominate the Conejo Valley. Prudential has maintained both the highest average sales price and the highest overall sales volume for the first half of 2012, based on sales reported to the MLS. “Prudential California Realty’s tools are unmatched. We are able to provide better service, achieve maximum exposure of our listings, allowing our sales professionals to develop new relationships and ultimately, grow their business,” said Bob Majorino.

With five offices throughout Ventura County Prudential California Realty is an independently owned and operated member of BRER Affiliates, Inc. For additional information about the Prudential Westlake Village / North Ranch office, or to buy or sell a luxury property please contact 805-373-8888 or visit www.prucalhomes.com.

Improve Your Credit Score

Those about to start house hunting should check their credit score before things get too serious. There is nothing quite as frightening in the mortgage process as learning that your credit report contains a late payment or other blemishes that can prevent you from buying a property. 
   The higher your credit score, the better your chances are of financing a home. A credit score of at least 620 will give consumers a fighting chance to secure a home loan; 720 should qualify in most cases. 
   However, a lower credit score doesn’t necessarily mean you can’t finance a home. Credit score repair begins with your credit report. You can request a free copy of your credit report annually from the Federal Trade Commission at AnnualCreditReport.com. Check the report for errors. 
   Don’t panic if your report contains blemishes. There are steps you can take to fix negative marks, regardless of whether the marks are in error or if you’ve missed a payment or two. The simplest thing to do if you’ve missed a payment is to call the creditor and ask them to erase the negative listing. You can also do this with a well-documented letter. There is no guarantee that a lender will do this, but if you’ve been a good customer through the years, this method has proven to be successful.

If you are one of the many who have defaulted on a student loan you can enter into a “rehab program,” which will get your account back on track after 12 months. This may not be the quick fix you need when buying a home but the sooner you do this the better.

   For disputing a negative mark that was not your fault, you can try disputing the account with the credit bureaus as “not mine.”

   One quick fix used by borrowers to boost their credit score is to have an older family member with a sound credit rating add you as an authorized user on a credit card. This can help increase your score and you wouldn’t even need the card in your possession. With more loans requiring higher credit scores today, it’s never too early to start fixing credit challenges. 

Contact Prudential California Realty's trusted Lender, California Premier Lending with any credit questions or to see if you qualify to buy a home. Visit www.prucalhomes.com

Enter To Win A Day Of Wine Tasting!

Ask your Prudential California Realty agent for an entry form!  

Prudential is awarding one lucky winner with a "Day of wine tasting for 2." The prize includes transportation on the Grapeline, gourmet lunch, and tastings at 3-5 wineries in your choice of either Paso Robles, Santa Ynez, San Luis Obispo, or Temecula. 

Contest ends October 15th, send your entries to your Realtor or local Prudential office.

Certain rules and restrictions may apply.

Home Improvements That Sell

Realty Times Feature Article by Broderick Perkins

In a mash-up survey of 450 real estate agents and 1,660 homeowners, homeowners get it - most of the time - when it comes to home improvements that help induce sales and higher prices.

Realtor.com's home improvement survey, conducted online from June 6 to June 13, 2012, tapped agents and Realtor.com users who are homeowners planning to improve their home before putting it on the market.

Given today's home buyers are aware of soft market conditions that can put a drag on values, they want a home that's ready to appreciate and that's a home in the best shape possible.

Nearly 90 percent of real estate agents believe home improvements can help a home sell faster, and nearly 73 percent say home work can boost the price, provided the home improvements are the right home improvements.

Nearly three in four (71.4 percent) real estate agents say sellers too often underestimate the power of simple home improvements - repairs, painting, and cosmetic upgrades.

Not so, say more than one in four (75.21 percent) of homeowners polled. They most certainly plan to repair broken household items before listing their home for sale.

Also, 65.9 percent of real estate agents said another common mistake among homeowners is not making "the right" home improvements for the local market. Like upgrades from home to home help pull up values overall.

Agents, 62 percent of them, also said too many homeowners make specialty improvements based on their own tastes rather than what might appeal to a buyer.

Recommended home improvements

The most common home improvements recommended by real estate agents included:

• The vast majority, 96.5 percent, of real estate professionals surveyed recommend sellers repair household items that are broken before putting a home on the market.

• More than half, 63.8 percent, of real estate agents recommend sellers make kitchen improvements.

• Most, 59.3 percent, of real estate professionals recommend sellers make bathroom improvements.

What sellers improve

Are sellers complying with real estate agents' recommended home improvements? Again, for the most part, yes.

The most common improvements made by home sellers:

• A majority, 75.21 percent, of sellers planning renovations will repair broken household items before selling their home.

• Most, 53.43 percent, of owners plan to add new flooring before selling their home.

• Also most, 53.37 percent, of sellers plan bathroom improvements before selling their home.

Homeowners appear to have dropped the ball on kitchen work, but they aren't pinching pennies when it comes to home improvements that sell.

Home improvement budgets were $2,001 to $5,000 for 24.1 percent of home sellers planning improvements; $5,001 to $10,000 for 22.23 percent and $10,001 to $20,000 for 16.63 percent.

To learn more about home improvement ideas, or for a free estimate of your home's value, please visit us at www.prucalhomes.com, or call 888-352-1652