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Redfin Pleasanton Market Trends Webinar 10.23.13

Redfin Pleasanton Market Trends Webinar 10.23.13






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  • [REQUIRED – please add the main presenter’s photos]
  • [REQUIRED – to be updated by the presenter to suit their strong points]
  • [REQUIRED – Update with local home in the $400-$500 range, ideally listed by Redfin]Talking points:- Refund is based on your offer price not the sales price- You’ll get it as a closing credit or check after close, depending on your lender
  • [REQUIRED – Updated every time]- We should color match the city name to the color of the line the graph, likewise for 20-city
  • [REQUIRED – Updated every time]
  • [REQUIRED – Updated every time]
  • [REQUIRED – Updated every time]Agents should use this slide to talk about what they’re seeing on the streetTell some stories!
  • [REQUIRED – Update each time with latest rate information]http://www.freddiemac.com/pmms/
  • [REQUIRED – Should be updated once a month]The info on this slide is great. Lets add a visual so its more interesting after all the data slides.
  • http://blog.redfin.com/blog/2013/03/february-real-time-home-price-tracker.html
  • http://blog.redfin.com/blog/2013/03/february-real-time-home-price-tracker.html
  • [REQUIRED]Add Lender’s name if he/she’s presenting
  • Notes from Matt:- Update this slide so it is easier to read
  • We’ll stick around…

Redfin Pleasanton Market Trends Webinar 10.23.13 Redfin Pleasanton Market Trends Webinar 10.23.13 Presentation Transcript

  • Redfin’s Market Trends Webinar October 23, 2013 Host: Sonal Basu @Redfin facebook.com/redfin
  • Sonal Basu Livermore – Pleasanton Agent ● Agent for XX years, XX years in Real Estate industry. ● Closed XX deals in past 12 mo. ● Specialize in: ► Single Family Homes ► Townhomes ► Condo’s ● Lived in East Bay since 1972 Enough about me! Meet my team…
  • A Little Bit About Redfin Redfin is a real estate brokerage on a mission to make buying and selling a home better for you. ● Accountability: we’re on your side, giving you honest advice ● Technology: sellers get more traffic; buyers tour homes first ● Value: a full-service brokerage that saves you thousands  No obligation
  • Save $7,000 on Average
  • Understanding the Buying Process
  • Overview of Buying a Home Research Search Offer Closing Your needs Define Preferences Comparables Earnest money The market Instant Alerts Draft offer Inspection Neighborhoods Open houses Negotiate Loan application Agents Home tours Mutual acceptance Title review Mortgages Appraisal Preapproval Financing approval Closing
  • Are You Ready to Buy?
  • Are You Ready to Buy? ● ● ● ● ● Do you have a family and need room to grow? Do you expect to stay put for 5 or more years? Have you saved up for a down payment? 3.5% to 20+% Have you saved up for closing costs? Typically 0-2% Can you rent for less?
  • Understanding the Market
  • Case-Shiller: San Francisco Area v. 20-City 250.00 20 City Composite San Francisco 200.00 150.00 100.00 50.00 0.00 Slide 10 of 55
  • Story of 2013: Low Inventory
  • Story of 2013: Rising Prices
  • Pleasanton Area Overview
  • Where Are Rates Headed? Type of Loan October 17, 2013 October 10, 2013 30-Year Fixed 4.28% 4.23% 15-Year Fixed 3.33% 3.31% 5/1 ARM 3.07% 3.05% 1-Year ARM 2.63% 2.64%
  • Where Is the Market Headed? ● Supply of homes is at a five-year low and won’t increase much more this year ● Foreclosures have been driving price declines, and years of inventory remain. Investment groups might have impact ● Rents have been rising, making buying more attractive ● Market stabilized – price increases in many areas ● Rate increases - biggest potential issue for buyers
  • National Market Trends The March key metrics across 19 major metropolitan markets: ● Home sales rose 25% from February, but were barely up from 2012, rising just 0.9% year-over-year, the smallest gain in 14 months. ● The number of homes for sale declined 31% from March 2012 to March 2013 (a slight improvement over the 32% drop in February), and were flat month over month. ● Home prices in March increased 15% year over year, and rose 6% just since February. ● The percentage of listings that were under contract within 14 days of their debut inched up yet again from 33.2% in February to 34.8% in March, the highest point on record.
  • National Market Trends
  • Mortgages
  • Review Your Financial Situation ● Pull credit report, look for errors ● Establish comfort level for monthly payment ● Figure out how much monthly income goes towards debt: 28 – 33% healthy ● Pay down credit balances to 1/3rd ● Don’t open any new lines of credit ● Don’t buy any big ticket items ● Source of money ● Current employment status
  • Get Pre-Approved Early A pre-approval letter is a letter from a bank or a lender estimating how much they'll lend you ● Establishes what you can afford & makes offer process go faster ● Redfin asks that you get pre-approved before your third tour ● Good for 90 days, depending on lender Info needed: ● W-2, two pay-stubs, tax returns, bank statements
  • Selling Your Home with Redfin
  • Better Service, Lower Fees ● We’re on your side ► Agents paid on your satisfaction ● Double your exposure ► Premium placement on Redfin ► Zillow, Trulia, Craigslist and Realtor ● 1.5% listing fee ► Professional photos ► Beautiful flyers We’ve helped over 50 people sell their homes in the last six months.
  • All Done!
  • So What Now? ● ● ● ● ● ● ● Make sure it’s the right time for you Start browsing online Check out our Home Buying Guide Find the right agent Look for a local lender and get pre-approved Start seeing homes in person Make an offer & close the deal
  • Thanks for Coming! Questions? Get in touch: Presenter sonal.basu@redfin.com Check out our upcoming classes: http://www.redfin.com/buy-a-home/classes-and-events