California Loans News

Sawbuck Realty, an online real estate broker has launched its new real estate e-commerce service in San Diego. Now, homebuyers can start using Sawbuck to search for homes for sale and recent sales throughout the state of California. Its scope reaches Lancaster up to the area of Chulu Vista.

Sawbuck has been able to simplify the home buying and selling process without compromising the quality of their service and its cost. Consumers have started their home search on the company’s website, where they can opt to search by property type, neighborhood, or address. The site’s search engine enables them to locate homes for sale, local market stats, and recently sold properties. After the search, an advisor for the company connects buyers with experienced and credible local real estate agents, and then streamlines their transactions.

The site has the “My Ratings” tab that allows easy-to-filter searches. This feature could help its users by narrowing down their options and saving time by not looking at undesirable properties. Another feature that the site has is the “News Feed” that sponsors a live market activity within search results. It shows new listings, price changes, and contracts and sales. This feature looks like Facebook’s status updates.

Lastly, its “Market Health Score” feature illustrates metrics for inventory, change in median sales price, “pull-through” (percentage of contracts that close), and “equilibrium”, which is the balance between new listings, price reductions, contracts, and sales). Through this feature, users can also compare the market health of any city, zip code, or neighborhood within Sawbuck’s areas of coverage.

According to the company’s chief executive officer Guy Wolcott, although prices in San Diego have taken a hit in the past two years, large segments of the market has already started to heat up. He believed that it is important to have accessible market data or experienced agents. “Sawbuck offers buyers and sellers the real-time information they crave, combined with access to some of the area’s best agents, and the lowest mortgage costs,” Wolcott added.

The company also said that consumers are guaranteed with unbeatable savings and service on their mortgage from the Bank of America. The company financially supports every buyer’s mortgage, and minimizes the interest rate and closing costs. It is backed by the Sawbuck Savings Guarantee, which assures $1,000 if a consumer finds cheaper mortgage and closing cost deal.

During September 2009, Sawbuck compared the 30-year fixed mortgage rate available to its customers with the present national average rate that was reported in Bankrate.com’s weekly survey of lenders. The average Sawbuck rate was 0.49% compared with other mortgage rates. The company said for an example that a $400,000 mortgage, a customer could save $121 per month. Also, Sawbuck agents utilize the company’s partner agent network through paying lowered commissions while the others market their property locally. Consumers could receive a 20 percent refund of the listing commission upon closing.

Since Sawbuck’s launch in January 2008, it has completed more than $35 million in real estate transactions within three different areas. These areas include Dallas, Los Angeles, and Washington, D.C.

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