[schema type="organization" orgtype="LocalBusiness" url="http://4salebydonna.com" name="Real Estate Agent Donna Baker" description="Real Estate Agent showing homes for sale and available real estate in Monrovia, Pasadena, Arcadia the San Gabriel Valley in Southern California." city="Monrovia" state="Ca" postalcode="91016" email="donna@4salebydonna.com " phone="(626) 408-7766 "]
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Despite Fed Move, Monrovia Mortgage Picture Remains Rosy

Last week, following the Fed’s hike in the rates they charge banks, you might expect a matching rise in mortgage rates for Monrovia home buyers and refi applicants. If the experts are right, that’s far from a done deal.

The Washington Post headline said it all:

Mortgage rates move slightly higher but could be headed back down again.” 

Mortgage News Daily reported the same: a slight nudge upward, then back down:

By holding flat, rates remain very close to the best levels seen in more than 8 months.”

The consensus was all but unanimous, with even Freddie Mac predicting that “mortgage rates are likely to follow” Treasury yields—that is, downward.

When the Fed raises the rates banks must pay, it’s only logical to expect the move to echo through the money markets, finally reaching home loan lenders. After all, they must raise rates to maintain the same profit level. But following the Fed announcement, investors drove Treasury rates sharply lower. The reason for the market’s seemingly reverse reaction wasn’t due to the Fed’s move: rather, it was because of “a surprisingly weak” Consumer Price Index report (which the Fed had chosen to ignore). In other words, investors believed the CPI instead of the Fed.

The likely effect on Monrovia home buyers and sellers remains very good news. With Monrovia mortgage rates holding at the “best levels seen in more than 8 months,” more families’ budgets allow moves to bigger and better homes. And for those who read the Fed rate news and feared it might be too late to take advantage of historically low interest rates, the Mortgage News Daily offered a further prediction about mortgage rates that even “stand a shot at going lower this summer.”  

Monrovia mortgage rates do rise and fall daily—and knowing for certain where they are headed is famously impossible. As Bloomberg.com noted by the end of the week, “it’s been an especially rough six months” for those charged with predicting trends. What needs no crystal ball to establish is that it now seems likely that this year’s spring-summer busy season will continue to produce real estate bargains that would have seemed almost inconceivable in earlier inflation-ridden decades.

With both sellers and buyers seeing Monrovia mortgage rates that translate into more house for lower monthly payments, it remains prime time to check out the market—and to give me a call!

Another happy client!

For my home sellers, my goal is always the highest price possible in the shortest amount of time with a solid buyer. I did my homework and shared with the client that the Monrovia home sales data and the location within our town pointed to a list price of $639,000. My client wanted to shoot higher. We worked with her price for 3 weeks. No bites. Then we lowered it to $639,000. Within the week, we had a full price offer from a happy buyer. I was pleased to represent her and get her home sold so she could move on to her next adventure.

Since she was a first time seller I had two goals in the escrow process. First, we wanted to make sure felt that all of her needs were addressed and questions were answered.  Second, I directed my staff to keep her updated at every step in the process. Here are the nice comments she just wrote about me:

Donna did an awesome job of navigating the process of selling my first home. Donna and her team work VERY hard for their clients. I have to say Donna is the “Rock Star of Realtors”!!!

If you are interested in selling and want a “Rock Star” realtor who will fight for the highest price in the shortest amount of time, and will keep you up to date at every step of the way, give me a call.

Is your situation complex with multiple owners, trusts, tenants, liens on the property, etc? I manage these dilemmas frequently. We always find a solution and work with your family members together or separately. I am right here in Old Town Monrovia, ready to answer your questions and ready to help you achieve your real estate goals.

Monrovia, yes. That’s my specialty. However, I currently have listings in Glendora, San Dimas,  Azusa, and Temple City. I can help you anywhere in the San Gabriel Valley.  Call me!  626-487-0820

 

Selling a Home in Monrovia: It’s Really a Light Show!

 You could say that selling a home—in Monrovia or anywhere else in the nation—is in large part “a light show.” When you dissect marketing statistics that trace the path of the vast majority of buyers, it’s clear that the first sense that comes into play in the selling of a home is sight: either a first view of the online listing, a glimpse of a property with a “for sale” sign out front, or an image in an ad or printed handout. As the saying goes, “the eyes have it.”

Selling Monrovia homes really begins with the photography. Professional photographers know that whenever they aim their cameras at something they intend to capture, as important as the actual object itself is the quality of the light that illuminates it. They talk about the “shape” of the light and whether it’s “hard” (meaning shadows are prominent) or “soft” (shadows innocuous). It’s why the pros will time a listing’s emblematic “curb appeal” shot for the sun to be in the most flattering position. Inside, they may use as many as three or four hidden slave strobe lights to brighten larger rooms where the natural light is photographically uneven.

With few exceptions, light and bright is the rule of thumb for what succeeds best in selling a home. That guideline explains why most agree that the preferred wall colors are variations of “pale” this or “light” that. The perennial favorites are light beige, pale taupe, and pale gray-blue. The common denominator for room color recommendations is high to moderate reflectivity—in other words: light and bright! A recent published analysis of over 32,000 photos of sold homes seems to have been a largely unnecessary exercise: the leaders were (you guessed it) pale gray blue and light beige.

The same thinking leads to the good practice of preceding every showing and open house with a quick trip through the home, opening blinds and curtains and turning on lamps and overheads.

But there are exceptions, of course. Monrovia homes with media rooms can often benefit from dimmed lighting that accentuates media screens. Likewise, a rich, darkly paneled study can do the same. Both make an interesting contrast with the rest of the home (and a dramatic break in the whole presentation). When showing a client’s property, some agents lead the guests on a predetermined route through the property. The idea is to manage the progression of impressions to achieve maximum impact.

When you begin to contemplate selling your own Monrovia home, even if it’s not being planned for a while, I hope you will give me a call. I’ll come out so we can chat about some low-intensity preparations that will pave the way for a quick and easy eventual sale. There’s never any obligation—and there are often some early steps you can take that result in meaningful results!

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