George Fotion
July 2019
At Your Service

How to Make Sure You Don’t Fall out of Escrow—Buyer’s Version
According to The Truth About Mortgage, the "sale fail” rate of homes is rising. "More than four out of 100 sales look as if they’re going to close, and then fall out of escrow for one reason or another,” they said.
      So how do you protect your purchase and make sure you get to the finish line? These four tips will help.
      1. Prepare yourself for the inspection Especially if you’re buying an older home, there are bound to be some surprises in the inspection report. The sale fail trend is particularly pronounced for older homes.
      "Homes built from 1959 through 
Mortgage Rates
U.S. averages as of July 2019:

30 yr. fixed: 3.73%
15 yr. fixed: 3.16%
5/1 yr. adj: 3.39%

1969 had the highest sale fail rate at 5.2%, compared to homes built in 2016, with a dropout rate of only 2.6%, which is among the lowest proportion of failed sale bands,” said The Truth
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How to Make Sure Your Home Closes Escrow—Seller’s Version
     You just heard those magic words: "We have a deal.” Now, you just have to get through escrow and you can move on to the next stage in your life. That means making sure your home doesn’t end up back on the market. Here are 6 steps you can take both before you list and during the escrow process to make sure everything goes smoothly all the way to closing.
      1. Carefully consider your sales price If you’re working with an experienced real estate agent, he or she should have a recommended pricing strategy based on area comparables. Pressuring your agent for a higher sales price could cause the home to sit on the market and, if you do get an offer, the appraisal may not match the sales price. "If the appraisal comes in

Tips for Keeping Your Home Safe During Summer
     Does your house turn into summer camp as soon as school gets out? Does it seem like you’re hosting the whole neighborhood on a daily basis? It’s great to be the "fun house”—the one where everybody wants to hang out. But, if that means you’re going to have a bunch of people coming through the door (especially children), there are some precautions you’re going to want to take to help keep everyone safe and keep you from being sued or on the hook for expensive medical treatments—or worse.
      Gate your pool According to the Center for Disease Control (CDC), "there were an average of 3,536 fatal unintentional drownings (non-boating related) annually in the United States” between 2005 and 2014. That’s just about 10 deaths every day, many of which could have been avoided with safety precautions to keep children out of the pool area, like a simple gate. Costs range

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How to tell if home prices in your neighborhood will go up or down

It’s all and ONLY about the effects of supply and demand and those forces are changing constantly. If you’re thinking about selling your house and basing what to list your home for on past competitive sales (the traditional way real estate agents price property) then you’re making a big mistake. Did you know that 37% of the listings in Palos Verdes Estates had price decreases during the listing’s term, 46% in Rancho Palos Verdes, 16% in Rolling Hills Estates and 7% in Rolling Hills? All of these numbers are UP from the last month. One of the MOST important duties a real estate broker has is to price the property right – from the BEGINNING. That way, maximum competition exists for the home you’re selling and that competition among buyers to own your home, gets you the highest net cash possible from the sale. Get the pricing element wrong and you’re off to a rocky start and you will leave tens if not hundreds of thousands of dollars on the table that rightfully should be in your pocket. Want to learn more? Send me an email and let’s set up a time to talk about it.  Meanwhile to understand what might happen next to prices of homes, go here and play the video now



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George Fotion,REALTOR
(424) 226-2147
Call Realty Company

433 Via Corta
Palos Verdes Estates CA 90274

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