Recent Posts
What are 3 Reasons a Home Doesn’t Sell?
No one wants to be on the market and not sell. No one wants to deal with the pain of preparing the home to have guests, the agony of scrambling to clean and race out of the house when you have a showing, and most of all, being uncertain of whether someone will ever buy your home so you can finally move on to the next stage of your life. So what are 3 major factors for actually getting your home sold? 1. Presentation – Cleaning, Staging, General Home Preparation The bottom line is buyers are more picky and more busy than ever. They want the perfect home without having to do much work on it. Most people these days have more responsibilities than hours in the day so the majority of buyers will want something move-in condition or something close. So…Condition matters! Before you even put your home on the market, you should review the condition of your home. The easiest things you can do to make your home more appealing to today’s buyers are also some of the cheapest: de-cluttering (free), new paint (you can do it yourself), and new carpet (try to get remnant pieces if possible). Other things you can possibly do are landscaping, staging, new fixtures, etc. It’s impossible to write a comprehensive guide to preparing a home for sale but my general suggestion is to make the worst things better before making the acceptable things even better. Bottom line: If your... More...
Obama’s Plan Offers Exciting Refinance Options
Making Home Affordable is a new plan to help keep homeowners in their homes. One really great part of the plan includes a new refinance option for homeowners who are trying and keep their homes. A lot of ideas surround helping homeowners who are in default or already close to foreclosure. Some loan modifications and short sales even require that homeowners be delinquent on their mortgage payments before being eligible and by this time it can be already too late to keep an owner in their home. The difference in this plan is that it targets responsible homeowners who have paid their mortgages on time for the past 12 months. By doing that, it targets homeowners who aren’t yet in trouble, making it more likely for a home to be saved. It also gives homeowners who bought in the past few years to upgrade to a fixed rate and a lower rate. Another huge benefit of this refinance program is it allows up to 105% financing. Most people couldn’t refinance because they purchased their home 0% down or little money down or their home value dropped too much. This plan is brand new (our lender just released the guidelines April 7th) so some of the information may change or vary but here are some of the main guidelines: No Cash Out. If you’re looking to refinance cash out of your property, this won’t be allowed under this. Moderately Good Credit, Past Payment History. This... More...
$8,000 Tax Credit for First Time Buyers
Some people have been asking me about the recent $8,000 tax credit for first time home buyers and I thought I should address it here. If you are buying or will buy a home in 2009 as a first time home buyer (see below for definition), you will be eligible for an $8,000 tax credit that you will not have to pay back. This is part of Obama’s Recovery and Reinvestment Act and will replace the $7,500 credit that was previously in effect. So below are some of the qualifications necessary: 1. First Time Home Buyer Purchasing in 2009 A first time home buyer is defined as an individual or a couple who has not owned a home in the past three years. The purchase, or recording date needs to be between or on January 1, 2009 to December 31, 2009. If you’re not sure about the dates, contact your real estate professional, if you have one, or you can always contact me. 2. Income Under $75,000 for individuals and $150,000 for couples Your taxable income must be under $75,000 if you file as an individual or $150,000 if you file as a couple. You are still eligible for the tax credit if your income is higher than that but it phases out quickly to $20,000 over the limit. 3. Primary Residence for 36 Months The home you buy must qualify as a primary residence for 36 months following the purchase date or else the credit must be repayed. These are just the basic rules for the law. If you need the... More...
The Increasing Importance of Marketing Your Home Online
In today’s technology driven world, more and more buyers are turning to the internet to look for a home. In a 2006 survey, the National Association of Realtors found that over 75% of buyers start their search online. With so many homes on the market today, it is now essential that these buyers see your home first. And in the real estate market’s current state, it’s now more important than ever to have a solid internet marketing plan as part of your overall marketing plan. With so many homes for sale, buyers simply don’t have the time to see the hundreds of homes on the market. What are some ways a technology savvy real estate agent can use to help market your home? 1. Preparing the Home to be Showcased Even though this isn’t high-tech, preparing your home for showings and pictures is essential for producing showings and eventually offers for your home. In today’s market, buyers are pickier than ever and expecting homes in the like-new condition. If you look at the closed sales, the ones that sell are the ones that are turn-key or in move-in condition. So before you even take a picture, talk with your agent about cleaning, painting, and staging your home to sell. Below is an example of two very similar homes unstaged (home 1, top left), staged (home 1, top right), staged with a good photograph (home 2, bottom). 2. Photographs, Descriptions,... More...
Low-Cost Ways to Save Money and Go Green
With energy prices on the rise and global resources diminishing, more and more people are making efforts to conserve energy, water, and other resources. While some of the ways you can conserve can be expensive, below are some great, low cost ways to reduce your consumption. 1. Compact Fluorescent Light Bulbs – $3.50/bulb Compared to traditional incandescent light bulbs, compact fluorescent light bulbs use 75% less energy, produce 75% less heat, and can last 10 times longer. According to Energy Star, if each household replaced just 1 light bulb in their home, we could save enough energy to power 3 million homes for a year, save more than $600 million in annual energy costs, and prevent greenhouse gases equivalent to the emissions of more than 800,000 cars. 2. Use Water-Saving Faucets, Showerheads, and Toilets – Free to $350+ Water-saving faucets, showerheads, and toilets can all help conserve water usage. Many cities now require faucets, toilets, and showerheads to conform to their water usage standards, with some even offer low cost solutions for homeowners. A water-efficient toilet can save between 8,000 to 18,000 gallons of water per year. And a water-saving showerhead alone can save up to 3,000 gallons of water, eliminate 1,000 lbs. in carbon dioxide emissions, and reduce your water bill by $50 per person per year. 3. Install a Water Heater Blanket, Lower the Water... More...
Introduction – Mark Cheng, IRN Realty
My name is Mark Cheng with IRN Realty. This is my blog where I will be posting informative, up to date articles and information on buying and selling real estate in general and about the communities I work. My ultimate goal for this blog is to serve as an educational resource for learning about the basics of real estate, as a forum that addresses the pressing issues in real estate, a collection tips and guides for my clients and friends, a way to access monthly market updates for the cities I work in, a place to share client success stories, and a platform to present specific properties and real estate opportunities like up and coming homes for sale that are not yet on the market. Specifically, I will be providing information about Arcadia real estate, San Marino real estate, Temple City real estate, Pasadena Real Estate, South Pasadena Real Estate, and real estate in surrounding areas. I am always happy to receive to comments, suggestions, and requests no matter how small or large, so please email them to me at mark@markcheng.net. Read More →
SOLD!
SOLD! BRAND NEW LUXURY HOME! 409 E Wistaria Ave, Arcadia
This breathtaking Arcadia home just sold! The superior craftsmanship and attention to detail, elegant yet functional floor plan, and prime location of this stunning piece of Arcadia real estate all offer the new owners exactly what they needed for their family. If you’re looking for your own dream home, you can start your Arcadia home search or you can contact me. Brand New Custom Home in Arcadia…Award Winning Arcadia Schools…Bright and Airy…Spacious Floor Plan with Recessed Lighting and Crown Molding Throughout…High Ceiling Entry…Gleaming Marble Floors…Beautiful Circular Staircase…Bright Living Room with Marble Fireplace…Large Kitchen with Granite Counters, Stainless Steel Appliances, Center Island, and Breakfast Nook…Second Chef’s Kitchen for High Heat Cooking…Huge Family Room with Rich Hardwood Floors and Wet Bar…Large, Detailed Office with Large Windows and Private Side Entrance…Den with Designer Details…Roomy Upstairs Loft Area…Huge Master Suite with Spacious Walk in Closet…Master Bath with Marble Counters, Large Glass Shower, Spa Tub with Beautiful Steps…Two Large Bedroom Suites Upstairs and One Bedroom Downstairs…Plenty of Storage Closets…Separate Laundry Room with Storage Cabinets and Sink…Dual-Zone Air Conditioning. Central Vacuum…Beautifully... More...
SOLD IN 6 DAYS! North San Gabriel Charmer!
SOLD! This beautiful home sold in 6 short days for ABOVE ASKING PRICE. The owners had done such a great job remodeling, making the home look gorgeous that two buyers fell in love with the home, made offers and the home sold! If you’re thinking about listing your home for sale, I’ll advise you on some things to make your home beautiful so buyers in your market will fall in love with it also. You can contact me on my real estate website or email me. This Traditional and Elegant San Gabriel Home is Located on a Quiet Cul-De-Sac in a Quiet Neighborhood…Completely Remodeled…The Home Features a Smart, Bright Floor Plan with Three Bedrooms and Two and a Half Baths…Recessed Lighting, Wood Floors, Crown Molding, and Double-Paned Windows Throughout…Large Living Room with Beautiful Slate Fireplace and Built-In Shelving…Large Kitchen with New Cabinets, Stainless Steel Appliances, New Fixtures, New Counters, and Convenient Pantry…All Bathrooms with New Cabinets, New Sinks, and New Tile Floors…A Beautiful Home in a Quiet Area! Read More →
SOLD IN 7 DAYS ABOVE LISTED PRICE! Arcadia Townhouse!
JUST SOLD! This Arcadia townhouse in the Baldwin Stocker area sold in 7 quick days. It was originally listed for $399,000 but because of multiple offers from multiple buyers, the property eventually sold for over asking price at $415,000. For the first week, I did some off-market advertising by sending it out to over 700 buyers, brought some of my own personal clients to the property, and finally put it on the public market. We received many offers and eventually sold it for a fantastic price for a really well maintained townhouse. I am always looking to help clients get the absolute most for their Arcadia homes, so if you’re thinking of selling, please don’t hesitate to contact me by phone at (626) 203-1396 or by email at mark@markcheng.net. Read More →
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About Mark
I am an experienced Southern California real estate professional helping clients purchase and sell San Gabriel Valley homes. I specialize in the cities of Arcadia, Temple City, San Marino, San Gabriel, South Pasadena, Pasadena, and the surrounding area. Read more...
