Archive for July, 2013

Bogun Realty and Luxury Homes – Open House Extraordinaire!

July 23, 2013

Bogun Realty and Luxury Homes – Open House Extraordinaire!

At Bogun Realty and Luxury Homes, we plan, implement, and enjoy the most extraordinary and successful open house events.  We simply relish the opportunity to list a home, entice the largest crowd of potential buyers that community has ever seen, and proudly present and flaunt the home in all of its delicious glory.

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Why do we get so excited about open houses when many in our industry simply do not host open house events and some even perceive them as time wasting drudgery?  We embark on open houses like the announcement and presentation of a precious new-born child ala “Lion King” style or the announcement and victory walk of “Ms. America” at the end of the pageant.  In either case, our open house events are highly anticipated by endless prospective buyers because we create unprecedented buzz and excitement.  No exaggeration here, we really had over 600 visitors during a double-back Saturday and Sunday open house events at 4516 Petit Avenue, Encino, California which can be seen at www.4516Petit.com.

Before Open House Events :
1.  Just as in the birth of any “child”, no one is allowed to visit the home until the first open house.  This creates pent-up interest and ensures the home is only seen when it is “show-ready.”
2. We create compelling marketing pieces and dedicated virtual tour website for the property prior to open house events so prospective buyers eagerly consume the information and impatiently yearn to visit the property. The property is described in vivid and romanticized details – architectural styles, colors of nature, aromas of flowers, vegetation, vistas, and so much more.  See example at www.4516Petit.com.
3. We purchase “Open House” promotions on www.ListingBook.com which emails our open house announcements directly to over a million prospective buyers. We also promote our open houses on all the usual websites – MLS, Zillow, Trulia, Facebook, Twitter, Instagram, many exclusive luxury home websites and we garner vast interest with our intriguing blogs.
4. We install a “For Sale” sign on the property’s front lawn with beautiful colorful glossy brochures that specify date and time of upcoming open house events.

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During Open Events:
1. We limit “Open House” directional signs on the street of the property to discourage “looky loos” and “mischievous elements” and encourage only serious prospective buyers who specifically learnt of the open house event from legitimate home buying portals. 
2. Visitors are allowed into the home only during open house hours (not before, not after). We treat the event very seriously and respect our homeowner’s time; as such, we want our visitors to do the same.
3. Visitors are greeted warmly, handed captivating brochures and they are required to complete the “Sign-In Book” providing their name, number, email, and other contact information.
4. We enthusiastically and ceremoniously unveil, expose, present, parade, flaunt and show-off the home as a precious trophy. We rattle off interesting architectural and community history, school district, humorous anecdotes, property features, and so much more. During the open house, we embody proud stewards of the home.

After Open House Events:
1. We thank all visitors who provided their contact information in the “Sign-In” Book. We also inform visitors of the next open house event.
2. Our crowded open houses guarantee that prospective buyers are convinced that the house is highly desired, multiple offers should be expected, and they should make their offer quickly.
3. We review and acknowledge receipt of all offers as soon as possible and promptly request any missing documents.
4. We sell the home in the shortest time and for the highest proceed.

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Click Here -> To Request a Free Home Evaluation.

If you are interested in selling your home or purchasing a home, contact Bandele Oguntomilade at 818-825-6996.  Bandele Oguntomilade is a Certified Residential Specialist and the Broker and Owner of Bogun Realty and Luxury Homes in Woodland Hills, California.  You may visit us at http://www.BogunRealtyAndLuxuryHomes.com

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Los Angeles County Homeowners – It is Time to Appeal Your Property Tax Assessment

July 22, 2013

Los Angeles County Homeowners – It is Time to Appeal Your Property Tax Assessment

In Los Angeles County, your property tax is based on LA County Tax Assessor’s determination of your property value.  As a homeowner, you have an opportunity to challenge your assessed property value between June 1 and November 30 of the current year.  Now, is that time of the year to challenge LA County Tax Assessor’s value of your home and reduce your property tax.  I encourage you to review your property tax value to determine if your property is being assessed a higher value than necessary. 

 

 

On the average, your property tax will the assessed value multiplied by 0.0125.  Thus, if your property is valued by the Tax Assessor at $700,000, your annual property tax will be approximately $700,000 x 0.0125 = $8,750.  However, if you can find 2 comparables that sold between January 1 and March 31 of the current year that support a value less than $700,000 (e.g. $500,000), then your property tax will be $500,000 x 0.0125 = $6,250.  This example realizes a $2,500 savings for the current year.

To challenge LA County Tax Assessor’s value of your home, you should complete the below 2 Forms, attach 2 comparables that sold between January 1 and March 31 of the current year, and file the completed Forms.  You can obtain comparables from your Realtor.  You must file the Forms between June 1 and November 30 of the current year.

Form 1: 2013 Decline-In-Value Review Application

Form 2:  Application for Changed Assessment 2013/14

If you are interested in selling your home or purchasing a home, contact Bandele Oguntomilade at 818-825-6996.  Bandele Oguntomilade is a Certified Residential Specialist and the Broker and Owner of Bogun Realty and Luxury Homes in Woodland Hills, California.  You may visit us at http://www.BogunRealtyAndLuxuryHomes.com.

Interest Rates Are Rising – Now Is The Time To Buy Your California Home.

July 6, 2013

 

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Interest rates have recently been rising at an escalated rate.  The longer you wait to purchase your new California home, the higher the risk of you not being able to afford your intended home due to the rising interest rates.  This is based on the assumption that rates continue to hold or increase compared to the lows we had just weeks ago.  Below comparison of May 2013 interest rates to June 2013 interest rates clearly demonstrate the resulting shrinking purchase power due to rising interest rates.

Scenario

 

As of May 3rd

 

As of June 25th

Purchase

Loan amount (80%LTV)

 

Rate w/ 1 pt

Mtg Payment

 

Rate w/ 1 pt

Mtg Payment

Price

20% down – SFR

 

30 Year fixed

Princ+Int

 

30 Year fixed

Princ+Int

$300,000.00

$240,000.00

 

3.500%

$1,078.00

 

4.500%

$1,217.00

$350,000.00

$280,000.00

 

3.500%

$1,258.00

 

4.500%

$1,419.00

$400,000.00

$320,000.00

 

3.500%

$1,437.00

 

4.500%

$1,622.00

$450,000.00

$360,000.00

 

3.500%

$1,617.00

 

4.500%

$1,825.00

$500,000.00

$400,000.00

 

3.500%

$1,798.00

 

4.500%

$2,027.00

$600,000.00

$480,000.00

 

3.625%

$2,190.00

 

4.875%

$2,541.00

$700,000.00

$560,000.00

 

3.625%

$2,554.00

 

4.875%

$2,964.00

$800,000.00

$640,000.00

 

3.875%

$3,010.00

 

5.000%

$3,436.00

$900,000.00

$720,000.00

 

3.875%

$3,387.00

 

5.000%

$3,866.00

$1,000,000.0

$800,000.00

 

3.875%

$3,762.00

 

5.000%

$4,295.00

 

In summary, depending on the purchase price and loan amount, the rate change from early May 2013 to end of June 2013 has lowered the affordability from approximately $50,000 to $125,000 in purchase price.  I hope you find this information useful and conclude that now is the time to buy!!

If you are interested in selling your home or purchasing a home, contact Bandele Oguntomilade at 818-825-6996.  Bandele Oguntomilade is a Certified Residential Specialist and the Broker and Owner of Bogun Realty and Luxury Homes in Woodland Hills, California.  You may visit us at http://www.BogunRealtyAndLuxuryHomes.com