Uncategorized November 5, 2024

Avoid These Top Homebuyer Mistakes in Today’s Market

No one likes making mistakes, especially when they happen in what’s likely the biggest transaction of your life – buying a home.

That’s why partnering with a trusted agent is so important. Here’s a sneak peek at the most common missteps buyers are making in today’s market and how a great agent will help you steer clear of each one.

Trying To Time the Market

Many buyers are trying to time the market by waiting for home prices or mortgage rates to drop. This can be a really risky strategy because there’s so much at play that can have an impact on those things. As Elijah de la Campa, Senior Economist at Redfin, says:

My advice for buyers is don’t try to time the market. There are ​a lot of swing factors, like the upcoming jobs report and the presidential election, that could cause the housing market to take unexpected twists and turns. If you find a house you love and can afford to buy it, now’s not a bad time.”

Buying More House Than You Can Afford

If you’re tempted to stretch your budget a bit further than you should, you’re not alone. A number of buyers are making this mistake right now.

But the truth is, it’s actually really important to avoid overextending your budget, especially when other housing expenses like home insurance and taxes are on the rise. You want to talk to the pros to make sure you understand what’ll really work for you. Bankrate offers this advice:

“Focus on what monthly payment you can afford rather than fixating on the maximum loan amount you qualify for. Just because you can qualify for a $300,000 loan doesn’t mean you can comfortably handle the monthly payments that come with it along with your other financial obligations.”

Missing Out on Assistance Programs That Can Help

Saving up for the upfront costs of homeownership takes some careful planning. You’ve got to think about your closing costs, down payment, and more. And if you don’t work with a team of experienced professionals, you could miss out on programs out there that can make a big difference for you. This is happening more than you realize.

According to Realtor.com, almost 80% of first-time buyers qualify for down payment assistance – but only 13% actually take advantage of those programs. So, talk to a lender about your options. Whether you’re buying your first house or your fifth, there may be a program that can help.

Not Leaning on the Expertise of a Pro

This last one may be the most important of all. The very best way to avoid making a mistake that’s going to cost you is to lean on a pro. With the right team of experts, you can easily dodge these missteps.

Bottom Line

The good news is you don’t have to deal with any of these headaches. Let’s connect so you have a pro on your side who can help you avoid these costly mistakes.

Uncategorized November 4, 2024

Why Your House Will Shine in Today’s Market

Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got moving on your mind, your house can really stand out.

There are several key reasons why there aren’t enough homes to go around and understanding them will help you see why the market is working in your favor if you’re ready to make a move.

What’s Causing the Shortage?

1. Underproduction of Homes: For years, the industry hasn’t built enough homes to keep up with demand. As Zillow explains:

“In 2022, 1.4 million homes were built — at the time, the best year for home construction since the early stages of the Great Recession. However, the number of U.S. families increased by 1.8 million that year, meaning the country did not even build enough to make a place for the new families, let alone begin chipping away at the deficit that has hampered housing affordability for more than a decade.”

2. Rising Costs: Building materials, labor shortages, and supply chain disruptions caused by the pandemic have all made it harder and more expensive to build homes. This can either limit or stop new home construction in some areas.

3. Regional Imbalances: Some markets are more affected by the shortage of homes than others. Popular and more desirable areas have more people moving in faster than new homes can be built. The number of new building permits issued doesn’t always keep pace with job growth in these regions, and that leads to even tighter markets and higher prices.

How Big Is the Problem?

According to estimates from Real Estate News, the U.S. is facing a housing shortfall of roughly 3.3 million homes, based on an average of several expert insights (see graph below):

a graph of blue squares

This shows there’s a significant number of homes that need to be built just to meet current demand from buyers. But what about future demand?

According to John Burns Research and Consulting (JBREC), over the next 10 years, the U.S. will need about 18 million new homes to meet projected demand, including homes for new households, second homes, and replacements for aging or unusable homes.

So, even though more homes are on the market compared to last year, there still aren’t enough of them to go around. This is where you can really win if you’re ready to sell your house.

What You Need To Remember

If you’re thinking about selling, the shortage of homes for sale means your house is likely to get some serious attention from buyers. It’ll take years to climb out of this inventory deficit, and the market is still very tight. So, when buyers are competing for relatively few homes like they are right now, that creates more interest in the houses that are on the market, putting upward pressure on prices and ultimately working in your favor.

And since every market is different, it’s important to work with a real estate agent who understands local trends. They can help you price your house right and create a strategy to attract the right buyers.

Bottom Line

While there are more homes for sale than there were at this time last year, there’s still a shortage overall. And this puts you in the driver’s seat as a seller. Let’s connect so you have someone who can help you take advantage of today’s market.

Uncategorized October 21, 2024

The Benefits of Using Your Equity To Make a Bigger Down Payment

🏠 Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity…. Read more….

Uncategorized October 14, 2024

How Much Does It Cost To Sell My House?

🏠 If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like…. Read more….

front porchUncategorized October 10, 2024

Now’s the Time To Upgrade to Your Dream Home

🏠 If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers…. Read more….

front porchUncategorized October 2, 2024

Why Buying Now May Be Worth It in the Long Run

🏠 Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something…. Read more….

Active September 28, 2024

1005 whistler Dr

FOR SALE

→ 1005 whistler Drive

$559,000

Suisun City

1005 whistler Drive

4 Bedrooms | 2 Baths | 1,308 sq. ft

$559,000

FEATURES

  • MLS#: 325009115
  • Bedrooms: 4
  • Bathrooms: 2
  • Living Space: 1,308 sq. ft.
  • Lot Size: 5,663 sq. ft.
  • Garage: 2 Car
  • Subdivision: Dover Terrace South
  • New Paint Interior/Exterior
  • New flooring
  • New Landscaping
  • New Kitchen Remodel
  • Stainless Steel Appliances
  • Stone Countertops
  • Fireplace
  • New Bathroom Remodel
  • Large Backyard
  • Patio in Rear
  • RV Parking
  • HVAC
  • Newer Windows

SUMMARY

Welcome to Your Suisun City Retreat!

Perfectly positioned with quick access to Highway 12 and just minutes from I-80, this freshly renovated 4-bedroom, 2-bathroom home offers modern updates and an incredible lifestyle in one of the Bay Area’s best-kept secrets. Step inside to find new flooring, contemporary lighting, and fresh interior and exterior paint, creating a bright and inviting space. The updated kitchen boasts brand-new cabinets, appliances, and generous counter space, while the cozy fireplace in the living area makes for a perfect gathering spot.

Outside, the spacious backyard provides RV parking and room to relax, with space to create your ideal outdoor retreat. Beyond your front door, Suisun City’s waterfront district awaits, where you can enjoy dining at Athenian Grill, Chianti Osteria, or Ironwood American Bistro, shop local boutiques, or take a scenic stroll along the marina. Outdoor enthusiasts will love paddleboarding, kayaking, and biking along the waterfront trails, while annual events like the Suisun City Waterfront Festival and Fourth of July Fireworks bring the community together. Plus, with affordable housing compared to the rest of the Bay Area, this home is a rare opportunity to enjoy a high quality of life at a fraction of the cost. Move-in ready and packed with modern updates—this Suisun City gem won’t last long!

WHO YOU WORK WITH MATTERS

walter-christiam-logo-black

Selling or buying a home is never an easy process. It is often the biggest investment people will make in their lifetime. It is important to work with someone who has the right product knowledge, solid reputation, and who earns your trust from beginning to end. It has always been my goal to provide my clients with the ultimate care and market knowledge essential for a successful transaction. As one of the partners at NavigateRE, formerly the #7 RE/MAX Team in the world. I am able to deliver powerful results using our local and global networks.

I’ve had the good fortune to sell homes throughout the Solano and Napa area, each one being an opportunity to connect with individual communities. It is this connection with the communities in which I work that has led me to be so passionate about real estate.

If you live here already, you know how blessed we are. If you’re considering living or investing here, you’ve probably experienced some of the area’s extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Solano and Napa Counties are your real estate destination, you’ve arrived at the right spot.

In my free time, I enjoy our stunning lakes, scenic hikes, and local gyms. I'm not just a REALTOR®; I'm a community advocate, tech enthusiast, and your reliable partner in turning your real estate dreams into reality.

2

DRE Lic# 02221115

Walter Christiam Web Profile

Walter Christiam

+1 707.660.0698
walter@navigatere.com
DRE Lic# 02147499

What My Clients Have To Say

liznunley5

Sold a home in 2023

"A hard worker. He communicated well during the whole process. We were very pleased with his help. He did an outstanding job. Would definitely work with him again. We now have a life long real estate agent if we ever need to have a real estate agent again."

lucimsch

Sold a Single Family home in 2022 in Davis, CA

"I highly recommend Walter Christiam Chamorro as your real estate agent. Walter is very professional, knowledgeable of the housing industry, driven to do his best, brings positive energy and is a very kind person. He provided excellent service by always being available, a great listener and responding to questions quickly. He was transparent and kept me informed of the process from the beginning all the way to the closing. I fully trusted Walter and his incredible team to provide the best service for myself and my family for a successful outcome in the sale of our family home. We had a great experience and would definitely recommend Walter as your agent!"

James Smart

Bought a Apartment home in 2022 in Fairfield, CA

"Our nightmare ended when we had a chance encounter with Walter Christiam. Don't let his young looks fool you. This guy is a superstar! We were under contract in a period of about one month. He is not in it to screw anyone around. He is fair, timely, communicative, passionate, listens well and is driven to success. Everything he represented to us was accurate and seasoned. We quickly learned to trust his opinion, judgement and knowledge. We presented him with a difficult, time consuming, detailed purchasing situation that involved trusts, out of country signors and a complicated list of ever changing requirements. He not only tackled the difficult assignments with ease and skill, he excelled any and all of my wildest expectations of a RE agent."

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Sold September 28, 2024

1195 Arizona Ct

4 Bedrooms | 3 baths | 2,697 sq. ft. $775,000

Sold September 28, 2024

900 Cambridge Dr #70

2 Bedrooms | 1 Baths | 1,087 sq. ft. $395,000

front porchUncategorized September 23, 2024

Is Your House Priced Too High?

Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible. And chances are, you’re no different.

But did you know one of the biggest things that could jeopardize your success is the asking price for your home? Pricing your house correctly is one of the most crucial steps in the selling process.

So, how do you know if you’re missing the mark? Here are four signs your high asking price might be turning potential buyers away—and why leaning on your real estate agent is the best way to course correct.

1. You’re Not Getting Many Showings or Offers

One of the most obvious signs your house may be overpriced is a lack of showings. If it’s been on the market for several weeks and only a few buyers have come to see it—or worse, you haven’t gotten any offers—it could be a clear indication the price isn’t matching up with what buyers expect. Because buyers who have been looking for a while can easily spot (and write off) a home that seems overpriced.

Your real estate agent will coach you through this, so lean on their experience for what you may want to try to bring more buyers in, including considering a price cut.

2. Buyers Have Consistent Negative Feedback after Showings

And if after the showings you do have, comments from the potential buyers aren’t great, you may need to course correct. Feedback from showings is an important part of understanding how buyers see your house. If they consistently say it’s overpriced compared to other homes they’ve seen, it’s time to reconsider your pricing strategy.

Your agent will gather and analyze this feedback for you, so you can look at how your house stacks up in the market. They can also suggest specific improvements or staging changes to better justify your asking price, or recommend one that aligns with today’s buyer expectations. As the National Association of Realtors (NAR) explains:

“Based on all the data gathered, agents may make adjustments to the initial price recommendation. This could involve adjusting for market conditions, property uniqueness, or other factors that may impact the property’s value.”

3. It’s Been on the Market for Too Long

And that lack of interest is ultimately going to lead to it sitting on the market without any serious bites. The longer it lingers, the more likely it is to raise red flags for buyers, who may wonder if something is wrong with it. Especially in today’s market with growing inventory, a long listing period means your house is stale – and that makes it even harder to sell.

Your real estate agent will be able to give you perspective on how quickly other homes in your area are selling and walk you through what’s working for other sellers. That way you can decide together if there’s something you want to do differently. As a Bankrate article says:

“Check with your agent about the average number of days homes spend on the market in your area. If your listing has been up significantly longer than average, that may be a sign to reduce the price.”

4. Your Neighbor’s House Sold Without an Issue

And here’s the last one to watch out for. If similar homes in your area are selling faster than yours, it’s a clear sign that something is off. This could be due to things like a lack of upgrades, outdated features, or a less desirable location. Or, it may be priced too high.

Your agent will keep you up to date on your competition and what changes, if any, you need to make your home more competitive. They’ll offer advice on small updates that could increase your home’s appeal or how to adjust your strategy to reflect the reality of the market today.

Bottom Line

Pricing a home correctly is both an art and a science. It requires a deep understanding of the market and buyer psychology. And when the price isn’t drawing in buyers, there’s no better resource than your agent on what you may want to do next.