Luis Cano's Monterey County Real Estate Blog

MISTAKE NO. 3  Not knowing the cost involved.

 HERE’S HOW TO AVOID IT  …  Early in the buying process, ask your real estate agent or mortgage representative for an estimate of closing costs. Title insurance and lawyer fees should be considered. Pre-pay responsibilities such as homeowner’s association fees and insurance must also be taken into account.                                                                                                                                                                                                                         

Remember to examine your settlement statement prior to closing.

There are several steps to take prior to listing your home that will make the transaction smoother and quicker.

STEP TWO…  Get your home inspected. You are required to disclose any problems with your property to prospective buyers. Failure to do so will lead to further complications, even if you weren’t aware of the flaws ahead of time. Hire a professional inspector to identify and document any problems with your property. Also, make sure your home has a clean bill of health from termites.

Current inventory of homes for sale in Monterey County is 1524 homes. 225 homes were sold in February at an average Sale price of $396,900. Average days on the market were 91 days.

A quick review of January: New Listings 468, Current inventory 1433, Closed Sales 231, Days on The Market 69, Average Sales Price $390,863. Median Sales Price $250,000. Percentage of List Price Recieved 97.56%. Total Sales Volume $90,289.461. and all this happened in January 2010.

Until February, I will try to simplify it.

Thanks,

Luis