Selling Your Monrovia House Now? 5 Good Reasons

When you have a firm timeline that governs when you’ll be selling your Monrovia house, it’s one decision that’s made for you. Of course, it’s not always that easy. If a move from one home to another, or from Monrovia to another area isn’t dictated by outside events, you have to make the decision anew every week or month.

On the one hand, the adventure and energizing prospect of a new home tugs in the direction of getting the project going…while on the other hand, the mountain of details and effort pulls in the direction of putting it off a bit longer. Here are five prime reasons why now—at the tail-end of this summer, right before autumn sets in—is an increasingly good time to be selling your Monrovia house:

It’s the BEST time to be moving up…at least for the foreseeable future. The most reliable projections say that prices are projected to appreciate 23.4% by 2021.
The season is right. Whenever the spring/summer selling season starts winding down, competition begins to fade. And as soon as you have made your own Monrovia sale, the homeowners you will be looking to buy from are more likely to be flexible.
Selling your Monrovia house can move faster. The processing (paperwork, approvals, etc.) tends to find quicker action as seasonal activity slows.
Overall, there’s just less competition. Aside from the seasonal aspect, overall, the big picture continues to be one of a housing supply that isn’t keeping pace with demand.
You’ve decided to sell sooner or later—but until you make the decision to take the plunge, many aspects of your life can get stuck. Major changes of all sorts have to be postponed when a big move is in the wind (especially when it gets stuck in that wind)!

The prime reason for knowing you are going to be selling your Monrovia house, but not acting on it, is the hassle factor (the many details that have to be attended to). I can be a major help with all those parts—and since I enjoy every part of what I do, it’s a feeling that’s easily spread to my clients!

Making the decision that now is the time is actually simpler than stewing over it any longer. Just give me a call!

Best and Final: the Dreaded Multiple Offer

Those who have been paying close attention to how the houses for sale in the San Gabriel Valley have been performing may have experienced the results of the dreaded “multiple offer situation.” When a closing price seems to rise unexpectedly, it could be because of something called the “Notice of Best and Final.” That notice can be issued by a listing agent as soon as more than one offer is on the table. Experienced real estate agents sometimes choose this strategy to win the best price for their client. It instructs all interested buyers to submit their “best and final offer” by a deadline (usually within 24 – 48 hours). Since usually no counters or escalation clauses are allowed, one blogger has aptly called it Multiple Offer Sudden Death. Here’s how it works:

The seller’s asking price is listed at, say, $720,000.
Buyer A is interested; bids $710,000.
After a few rounds of negotiation, the seller and Buyer A near agreement at $716,000
Buyer B, not knowing that the seller is nearing agreement with Buyer A, submits her own bid at $718,000.
The seller initiates Notice of Best and Final, giving both parties two days to submit their last offer.
Buyer A begrudgingly goes up to the full list price and now offers $720,000.
Buyer B shoots all the way up to $729,000 – the offer which is accepted.

In this scenario, Buyer B not only paid $13,000 more than Buyer A was about to pay, but also paid $9,000 more than needed to beat Buyer A’s top price.

Great news for the seller, for sure — but less exciting for the buyers, since what was a great deal just becomes so-so. That’s why I advise my buyer clients to do their best to remain emotionally detached. I suggest deciding on the true value you believe the home is worth, then sticking to it, no matter what!

On the other hand, today’s market is seeing a significant rise in all-cash offers. Many buyers are losing out on the home of their dreams because they can’t compete in multiple offer situations. This makes it even more important to put your best foot forward when submitting your first offer as soon as a new listing hits the market that interests you. Prepare to be frustrated, no matter what price range you’re in. I have seen even $2,000,000 buyers get overbid in multiple offer situations.

Regardless, real estate is still one of the best investments you can make.

Top 3 Ways Homes in Monrovia Can Save on Insurance

For most area homeowners, the 110-decibel wail of nearby fire engines may not be a sought-after feature when selecting the ideal neighborhood. Nonetheless, according to The Wall Street Journal, living close to firehouse has its advantages. Safety is one. A reduction in your homeowner’s insurance bill, another.

Not all homes in Monrovia can have the advantage of being next door to a firehouse, but just about everybody knows that having the proper insurance is important to protect not only the structure itself but also the valuables within. Here are three possible actions you could take this month, any or all of which might reduce the cost of your homeowner’s insurance premium:

Shop Around – We are much more likely to spend our time “liking” dancing cat photos on social media annually than in planning advanced insurance plan strategies. Nonetheless, a visit to the website of the National Association of Insurance Commissioners can help identify important nuances when selecting a vendor. Example: review complaints.

Reduce Coverages – Most people insure their homes for the full amount they paid at the time of purchase. If you bought your home in Monrovia for $450k, you automatically insured it for that amount. But in the event of a loss event like a fire, you don’t necessarily need the full purchase price to rebuild the property—remember, that purchase price included the cost of the land. This idea should be weighed realistically against today’s costs. Take care not to go light on the replacement cost of your belongings (many folks do). A new inventory can help in that department.

Just Ask! – While discounts vary with each insurer, the following details might qualify your home in Monrovia for a discount if you just go ahead and inquire:

Multi-policies with the same company.
Length of time with the same company.
A smoke detector or sprinkler system.
An alarm system, deadbolt locks, or other security measures.
You have not made a claim in recent history.
Your household doesn’t include smokers.
You qualify for a senior discount.
Your credit score has improved.

While not all of us are willing to move next door to a firehouse to save on our home insurance, there are multiple ways to whittle down policy premiums. I’m here as a resource for your Monrovia property-related questions anytime: just give me a call!