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Maximizing Your Home Search: Best Times to Look for New Listings

If you’re in the market for a new home, timing can make all the difference. Understanding when real estate listings are updated can help you stay ahead of the competition and find the home of your dreams. Whether you’re a first-time buyer or looking for your next property, here’s a breakdown of the best times to search for new listings.

Thursday and Friday: Prime Listing Days

One of the most common days for new real estate listings to go live is Thursday and Friday. Many agents strategically list new properties on these days to maximize their visibility. By doing so, they ensure their listings are seen by prospective buyers who are planning to tour homes over the weekend.

In many cases, listings go live around 5:00 PM. Why the evening? Many buyers take time after work and before dinner to browse listings, making this the perfect time for agents to showcase their new properties to potential buyers who are actively searching.

Tuesday at 8:00 PM: The Digital Prime Time

If you’re an online home shopper, you’ll want to keep in mind that Tuesday at 8:00 PM is one of the busiest times for online home searches. According to a study by Redfin.com, this is the most popular time of the week when buyers are browsing listings. If you’re looking for fresh updates, this could be a great time to get online and search for any new listings that may have hit the market that evening.

Spring: The Best Season for Listings

The spring months, particularly from April to June, are the most active times for new listings in real estate. The warmer weather encourages more people to move, and many sellers wait until spring to list their homes. For buyers, this time period offers the largest selection of properties, but also more competition. So if you’re in the market during these months, be ready to act fast when you find the right fit!

Tips for Staying Ahead

Set Alerts: Sign up for listing alerts on your favorite real estate sites to be notified immediately when new properties hit the market.
Be Ready to Act Fast: With the rush of new listings, you’ll need to act quickly when you find a home you’re interested in. Work with your real estate agent to stay ahead of the game.
Use the Right Tools: Many real estate platforms allow you to filter listings by date, making it easier to find the freshest properties.

Knowing the best times to search for homes can give you an edge in a competitive market. By taking advantage of prime listing times and staying informed, you’ll be well-positioned to find your perfect home.

If you’re considering a move or investment and require a trusted Real Estate Broker, we’re here to assist you. Contact us via email at TEAM@McDanielCallahan.com, complete the form below, or give us a call at 925-838-4300. We are ready to provide expert guidance and support for all your real estate needs. Terry McDaniel DRE License #00941526

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Should You Add On or Move? Pros and Cons of Creating More Space

At some point, many homeowners face the big question: “Do we stay and add on, or do we move to something bigger?” Whether your family is growing, your needs are changing, or you’re simply craving more room, it’s a big decision. Both options come with benefits and challenges—here’s a breakdown to help you weigh the pros and cons.

🏡 Option 1: Adding On to Your Current Home

✅ Pros:

Stay in the neighborhood you love: You don’t have to leave the schools, shops, and neighbors you’ve grown fond of.
Customize to your needs: You can design the addition exactly how you want it—whether it’s an extra bedroom, office, or sunroom.
Avoid the hassle of moving: No boxes, no showings, and no address changes.

❌ Cons:

Construction stress: Living in a home under renovation can be loud, dusty, and disruptive.
Zoning and permits: Depending on your location, you may face restrictions or a long approval process.
Cost surprises: Renovations often come with unexpected expenses and timeline delays.

🏠 Option 2: Moving to a New Home

✅ Pros:

Immediate space and upgrades: You can move into a home that already meets your needs, no construction required.
Potential lifestyle improvement: Maybe it’s a better commute, a quieter street, or a bigger backyard.
Financial opportunities: Selling your current home in a strong market could give you leverage in your next purchase.

❌ Cons:

The emotional toll of leaving: It can be hard to say goodbye to a home filled with memories.
Logistics and costs: Hiring movers, paying agent commissions, closing costs—it all adds up.
Uncertainty: You may not find your dream home right away or may face competition in a tight market.

💭 How to Decide

Ask yourself:

Do you love your current location?
Can your home physically handle an addition?
Is the cost of renovation worth it compared to moving?
Are you ready emotionally and financially for a move?

Talking to a trusted real estate professional can help you evaluate your home’s current value, potential for growth, and what’s available in your desired market.

Whether you renovate or relocate, the key is finding what works best for your lifestyle, finances, and long-term plans. There’s no one-size-fits-all answer—just the right choice for you.

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Do You Want to Own a Rental Property for Income? Here’s What You Need to Know

Owning a rental property can be an excellent way to generate passive income and build wealth. However, it’s not all passive, and there are several things to consider before taking the plunge. Whether you’re looking to add a rental property to your portfolio or thinking about becoming a property manager yourself, it’s important to be aware of both the opportunities and the challenges that come with being a landlord.

Do You Want to Be a Property Manager?

One of the first questions you should ask yourself is whether you want to manage the property yourself or hire a property management company. While owning rental properties offers the potential for steady income, it comes with the responsibility of managing tenants, handling maintenance issues, and keeping up with legal and financial paperwork.

Here are some pros and cons to consider:

Managing Yourself:
- Pros: You save on management fees and have complete control over your property.
- Cons: It’s time-consuming and can be stressful, especially if you have multiple properties or demanding tenants.
Hiring a Property Manager:
- Pros: They take care of day-to-day management tasks like tenant screening, rent collection, and maintenance. This can give you more time and peace of mind.
- Cons: Property management services usually charge around 8-12% of monthly rent. This is an ongoing cost to consider.

Renters Might Not Pay Rent on Time

No matter how well you screen tenants, there’s always the chance that someone won’t pay rent on time. It’s an unfortunate reality of being a landlord. In fact, payment issues are one of the most common reasons landlords get frustrated with rental properties.

To mitigate this:

Set clear expectations upfront with tenants about rent due dates and penalties for late payments.
Consider offering online payment options to make it easier for tenants to pay on time.
Always have a legal framework in place for handling late payments or evictions if necessary. Know your local laws on tenant rights and eviction processes.

Costs You Might Not Think Of

While many new landlords are prepared for the obvious costs of property ownership—such as mortgage payments, taxes, and insurance—there are hidden costs that might catch you off guard:

Maintenance & Repairs: Things break, pipes leak, and appliances fail. Be prepared for the unexpected and budget accordingly.
Vacancy Periods: There may be periods where your property is vacant, and you’re not collecting rent. Make sure you have a financial cushion to cover those times.
Marketing & Leasing: Advertising your property, showing it to prospective tenants, and dealing with the leasing paperwork can all cost time and money.
Legal & Administrative Fees: From leases to inspections to possible legal fees if a tenant breaks the lease, these can add up quickly.

Owning a rental property can be a rewarding investment, but it’s important to enter the process with eyes wide open. Whether you decide to manage the property yourself or hire a property manager, be prepared for the responsibilities that come with the role. Keep in mind the potential for late payments, the costs you might not have initially considered, and the time commitment required. If you’re ready to tackle those challenges, rental properties can offer steady income and long-term financial benefits.

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3 Signs It’s Time to Lower Your Home’s Asking Price

You’ve had your home listed for two weeks, showings are happening, but there’s still no offer. While it’s normal to wait a bit for the right buyer, if interest isn’t converting into offers, it may be time to adjust your strategy—starting with the price.

Here are three key signs it’s probably time to lower your asking price:

1. Plenty of Showings, But No Offers

If buyers are touring your home but not making offers, it’s a strong indicator that your price is too high. Showings mean buyers are interested—but if they walk away without submitting an offer, something is holding them back.

💡 What to do: Ask for feedback from agents and buyers. If multiple people say the home is priced too high compared to similar listings, it’s time to reconsider.

2. Nearby Homes Are Selling, but Yours Isn’t

Take a look at similar homes in your area. Are they going under contract while yours sits on the market? If comparable homes—same size, condition, and location—are selling faster, your price could be the issue.

💡 What to do: Review recent sales and price reductions in your neighborhood. If similar homes are selling at a lower price point, you may need to adjust to stay competitive.

3. You’re Getting Lowball Offers

If buyers are making offers, but they’re significantly below your asking price, it could mean that they see the home’s value differently than you do. This often signals that your listing price is above market expectations.

💡 What to do: Consider a modest price reduction to bring your home in line with market value. A well-priced home attracts serious buyers and multiple offers, leading to a faster sale.

Pricing a home is a strategy, not a guessing game. If you’re seeing showings but no offers, nearby homes are selling, or buyers are lowballing, it’s likely time for a price adjustment.

Need expert advice? A real estate professional can help analyze the market, reposition your listing, and attract the right buyers at the right price.

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Understanding Your Market: What Active and Pending Listings Reveal

When analyzing the real estate market, one of the most valuable indicators is the relationship between active listings (homes for sale) and pending listings (homes under contract but not yet closed). By paying attention to these numbers, buyers and sellers can gain insight into market conditions, competition, and pricing trends.

1. A Balanced Market

A market is considered balanced when the number of active listings and pending listings are relatively even. This means homes are selling at a steady pace, giving both buyers and sellers a fair advantage. In this type of market:

Homes are selling at or near their list prices.
Buyers have options but must still act quickly on well-priced homes.
Sellers can expect reasonable time frames for their homes to go under contract.

2. A Buyer’s Market

When the number of active listings is significantly higher than the number of pending listings, it indicates a buyer’s market. This happens when there are more homes available than there are buyers actively making offers. In a buyer’s market:

Homes may sit on the market longer.
Sellers might have to lower prices or offer incentives to attract buyers.
Buyers have more negotiating power and may be able to secure better deals.

3. A Seller’s Market

If the number of pending listings is close to or even greater than the number of active listings, the market favors sellers. This suggests that demand is high, and homes are selling quickly. In a seller’s market:

Homes may receive multiple offers and sell above asking price.
Buyers need to act fast and may need to make competitive offers.
Sellers have the upper hand in negotiations.

4. How to Use This Data in Your Strategy

Whether you’re a buyer, seller, or real estate professional, monitoring the ratio of active to pending listings can guide your decisions.

Sellers should price competitively based on demand and consider the average time homes spend on the market.
Buyers should prepare for competition in a hot market or leverage negotiations in a slower one.
Agents can use this data to educate clients, adjust marketing strategies, and set realistic expectations.

By regularly tracking these numbers, you can stay ahead of market trends and make more informed real estate decisions.

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Why You Should Include a Home Warranty in Your Real Estate Purchase Agreement

When buying a home, you’re making one of the biggest investments of your life. With so many details to consider, from inspections to financing, one aspect that often gets overlooked is the inclusion of a home warranty in the purchase agreement. While it may seem like an optional add-on, a home warranty can provide significant benefits for both buyers and sellers.

What Is a Home Warranty?

A home warranty is a service contract that covers the repair or replacement of major home systems and appliances due to normal wear and tear. Unlike homeowners insurance, which covers damage from unforeseen disasters like fires and storms, a home warranty focuses on systems such as plumbing, electrical, HVAC, and appliances like water heaters, refrigerators, and dishwashers.

Why Buyers Should Include a Home Warranty

Financial Protection – Unexpected repairs can be costly. A home warranty helps protect buyers from sudden out-of-pocket expenses shortly after moving in.
Peace of Mind – Knowing that major home systems and appliances are covered can reduce stress and make homeownership less daunting.
Budget-Friendly – With a home warranty, buyers can plan for repair costs without the worry of surprise expenses draining their finances.
Easier Home Maintenance – Instead of scrambling to find a reliable contractor, home warranty companies provide pre-screened professionals for repairs.

Why Sellers Should Offer a Home Warranty

Attract More Buyers – Offering a home warranty can make your property more appealing, giving potential buyers added confidence in their purchase.
Reduce Post-Sale Issues – If something breaks after closing, the buyer can turn to the home warranty instead of holding the seller responsible.
Competitive Edge – In a competitive market, including a home warranty can set your listing apart from others.
Smoother Negotiations – Buyers may feel more comfortable waiving certain contingencies if they know a home warranty is in place.

How to Include a Home Warranty in the Purchase Agreement

When negotiating the purchase agreement, buyers and sellers should discuss who will pay for the home warranty. In many cases, sellers cover the cost as a selling incentive, but buyers can also purchase one themselves. Ensure that the agreement clearly states:

Who pays for the warranty
The length of coverage (typically one year, with renewal options)
What is included in the plan

A home warranty can be a valuable addition to any real estate transaction, offering protection, peace of mind, and financial security for both buyers and sellers. Whether you’re purchasing a home or selling one, including a home warranty in your real estate purchase agreement is a smart move that can lead to a smoother and more confident transaction.

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Understanding Section One Termite Work in Real Estate

When buying or selling a home, one crucial inspection that often comes up is the termite inspection. In many real estate transactions, especially in states like California, the results of this inspection can impact the sale. One key term that buyers and sellers should be aware of is “Section One Termite Work.” But what does it mean, and why is it important?

What Is Section One Termite Work?

Section One termite work refers to active infestations, damage, or conditions that require immediate attention to prevent further structural harm. This includes:

Live termites (subterranean or drywood)
Wood rot and fungus damage
Wood-to-earth contact (which can attract termites)
Tunnels or shelter tubes created by termites
Dry rot caused by moisture issues

These issues must typically be repaired before a lender will approve financing, especially for FHA and VA loans.

How Is It Different from Section Two?

While Section One covers current infestations and damage, Section Two refers to conditions that could lead to future termite problems—such as excessive moisture, poor drainage, or wood stored near the home. These are not required to be repaired before the sale but are often recommended as preventive measures.

Who Pays for Section One Repairs?

Responsibility for Section One repairs is negotiable in a real estate transaction. In competitive markets, sellers often agree to cover these costs to keep the deal moving. However, in a strong seller’s market, buyers may be expected to handle repairs themselves after closing.

For VA loans, the seller must cover Section One repairs as part of the loan requirements.

Why It Matters

Ignoring Section One termite work can lead to:
✔️ Delayed or canceled transactions
✔️ Structural damage that worsens over time
✔️ Additional costly repairs down the road

For buyers, reviewing the termite inspection report and negotiating repairs before closing is crucial. For sellers, addressing these issues early can help avoid last-minute surprises that could derail a sale.

Whether you’re buying or selling, understanding Section One termite work ensures a smoother, more informed transaction. Have questions? Contact a trusted real estate professional to guide you through the process! 🚪🔑🐜

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How to Tour an Open House Without Your Agent: 5 Tips

Attending an open house without your real estate agent can be an efficient way to explore potential homes on your own schedule. However, it’s important to navigate the visit strategically to protect your interests and maximize your experience. Here are five essential tips to help you make the most of your solo open house tour.

1. Share Your Agent’s Information with the Hosting Agent

The seller’s agent will be present at the open house, guiding visitors and answering questions. If you’re already working with a real estate agent, introduce yourself and provide their contact information. This ensures that any follow-ups, questions, or negotiations will go through your agent, keeping the process professional and structured. The hosting agent can also relay information to your agent, such as your level of interest in the property.

2. Be Mindful of What You Share

While it’s okay to show interest in the property, avoid giving away details that could impact future negotiations. Refrain from discussing your budget, why you’re moving, or how quickly you need to buy. Any personal information you share could influence the seller’s agent and weaken your bargaining position later.

3. Ask Property-Specific Questions

Your agent can always follow up with the seller later, but if you have immediate concerns, don’t hesitate to ask the listing agent during the tour. Questions about the roof’s age, recent renovations, or maintenance history can provide valuable insights. Gathering this information upfront can help you make a more informed decision.

4. Take Notes on What You Like and Why

As you tour multiple homes, it can be easy to forget details. Keep track of features you love, aspects you dislike, and any concerns you have. This will help refine your home search criteria and make comparisons easier when discussing options with your agent later.

5. Capture Photos or Videos (With Permission)

If permitted, take photos or record short videos to help jog your memory after the visit. This can be especially useful if you have questions about the home’s condition, such as potential foundation issues or signs of pest problems. Visual references can also help your agent understand your preferences and concerns more clearly.

Touring an open house without your agent doesn’t mean you’re on your own. By handling the visit strategically—sharing your agent’s info, asking smart questions, and keeping detailed notes—you can gather valuable insights while protecting your negotiation power. Once you reconnect with your agent, you’ll have plenty of useful feedback to refine your home search and move closer to finding the perfect property.

https://www.redfin.com/blog/attend-open-house-without-real-estate-agent/

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Should Sellers Set an Offer Deadline? Here’s What You Need to Know

In a competitive real estate market, setting an offer deadline is a common strategy that many sellers and their agents use to maximize the sale price of a home. But is it the right approach for you?

Why Set an Offer Deadline?

When a home hits the market, it can generate a lot of interest—sometimes even before the first open house. If offers start coming in early, it might be tempting to accept the best one right away. However, many real estate agents recommend waiting until after a big open house or through the weekend before responding. Here’s why:

More Competition, Higher Offers – An offer deadline creates a sense of urgency and competition among buyers, often leading to stronger offers.
Time to Evaluate Buyers – It allows you and your agent to carefully review all offers, verify financing, and assess which buyers are the strongest.
Better Negotiation Power – With multiple offers in hand, you can strategically counteroffer to maximize your sale price and terms.

How to Set an Offer Deadline the Right Way

Work With Your Agent – Discuss market conditions and whether a deadline makes sense for your home.
Communicate Clearly – Your agent should notify all interested buyers and their agents about the deadline to ensure transparency.
Review All Offers Fairly – Don’t just focus on price; consider contingencies, financing, and closing timelines.

Is an Offer Deadline Always the Best Strategy?

While a deadline can work well in a hot market, it may not be ideal if buyer interest is low. In some cases, responding to a strong early offer might be the best move. Your real estate agent can help you decide the right approach based on demand and your selling goals.

If you’re thinking about selling your home, reach out to a trusted real estate professional to discuss whether an offer deadline could work in your favor!

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Selling a House in an LLC: What You Need to Know About 1099 Reporting

When it comes to selling a house, there are many steps to consider, from preparing your home for sale to negotiating with buyers. One important aspect that often gets overlooked is the tax implications, especially if the house is owned by an LLC (Limited Liability Company). If you’re selling a property that’s titled in the name of your LLC, you’ll need to handle the 1099 reporting process correctly to ensure everything is in compliance with tax regulations.

While this blog will give you a general overview, it’s important to remember that tax laws can vary depending on your specific situation. Always consult with a tax professional to ensure that you’re meeting all the necessary requirements and making the best choices for your financial situation.

The Basics of Selling Property Owned by an LLC

When a property is owned by an LLC, it means that the LLC itself is the legal owner of the house, not you personally. This distinction has implications for how the sale proceeds are reported to the IRS.

The main thing you need to keep in mind is that when you sell a property owned by an LLC, the 1099 reporting requirements may differ from a personal sale. For example, the LLC is treated as a separate entity for tax purposes, which means that the 1099 form—used to report income or proceeds from the sale—will need to be issued to the LLC, not to you personally.

How the 1099 Form Works in LLC Property Sales

The 1099 form is typically used to report income or proceeds when you sell certain assets, like real estate. The form is important because it helps the IRS track income and ensure that it is reported and taxed correctly.

1099-S Form: The IRS uses a specific form, the 1099-S, to report the sale of real estate. If the property is titled in the LLC’s name, the 1099-S will be issued to the LLC. This is crucial because the LLC’s tax structure—whether it’s a disregarded entity, partnership, or corporation—determines how the income will be taxed.
Disregarded Entities: If your LLC is classified as a disregarded entity for tax purposes (like a single-member LLC), the 1099-S form may still be issued to the LLC, but the LLC’s income might “pass through” to your personal tax return. This depends on the LLC’s tax election.
Partnership or Corporation: If your LLC is taxed as a partnership or corporation, the 1099-S form will be issued to the LLC, and the sale proceeds will be reported on the LLC’s tax return, not on your personal return.

Why It’s Crucial to Consult a Tax Professional

Since selling a house through an LLC can complicate your tax situation, it’s crucial to consult with a tax professional before completing the sale. Here are a few reasons why:

Tax Structure of Your LLC: The way your LLC is taxed (as a disregarded entity, partnership, or corporation) will significantly affect how the sale proceeds are reported and taxed. A tax professional can explain how this affects you and help you navigate the reporting process.
Capital Gains Tax Implications: Depending on how long the LLC has owned the property, you may be subject to capital gains tax when selling. A tax professional can help you understand potential deductions and strategies to minimize taxes on the sale.
Reporting and Compliance: Selling a property through an LLC may require more complex reporting. A tax professional can ensure that the 1099-S form is processed correctly and help you avoid potential penalties or mistakes that could lead to issues with the IRS.
State and Local Taxes: Besides federal taxes, there may be state or local taxes to consider when selling property through an LLC. A tax advisor can help you understand the full scope of tax responsibilities.

Key Takeaways

LLC Ownership: When selling a house owned by an LLC, the 1099-S form will be issued to the LLC, not you personally.
Tax Structure Matters: The tax treatment of the sale will depend on how your LLC is structured for tax purposes (disregarded entity, partnership, or corporation).
Consult a Professional: Always consult with a tax professional to ensure the sale is handled correctly and that all forms are processed appropriately.

Selling a house owned by an LLC can offer several benefits, including liability protection and potential tax advantages. However, it also comes with complexities that require careful attention, especially when it comes to handling 1099 reporting. Before you proceed with the sale, make sure to consult with a tax professional to ensure that you’re following the proper procedures and making informed decisions.

Remember, every real estate transaction is unique, and getting expert advice can save you time, money, and potential headaches down the road.

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