Homescopes

Develop a working relationship with your Realtor.  I know some of you are thinking…I’ll contact a Realtor “when I’m ready to BUY”, not before, heaven forbid.  Here’s the reality. . . a Realtor will guide you through the contract and escrow when you’ve identified a property; a Realtor can also help you narrow down an area, neighborhood, and the right property for you.

Sites that offer community information offer lots of value to those who are trying to narrow down where to focus their search.   Keep in mind that you will only be getting a fraction of what that community is all about.  Most of the public search sites miss the local flavor - the heart of a community or neighborhood.  That’s not the purpose of them anyway.  So if online searching is the first step, driving the area is a good second step.  When you’re ready to delve into a community or begin looking at properties within that community, that is the best time to talk to a Realtor.  Many prospective buyers attend open houses, check websites and reviews, and ask their friends/neighbors for referrals.

Whether you’re relocating to a new community or moving down the street, how do you begin a relationship with a Realtor?  You send an email or pick up the phone.  So now you’re thinking “what if I don’t like that Realtor?” (for whatever reason).  Any professional relationship is based on integrity and trust.   The only way to gain trust and learn about their style is to get to know that person.  Check their website and online presence (our industry is getting transparent like everything else) and talk with them.  It is our job to LISTEN and GUIDE and help you reach your real estate goal, so open communication is best.

Two documents to be aware of with this next step:

Disclosure of Agency Relationships:  It states that the Realtor (in front of you) agrees to do their “fiduciary duty” in the type of transaction you’re discussing (e.g. buyer or seller).  It’s an important clarification if you stop to think about it.  When you’re being shown a property, don’t you want to know who the Agent is representing?  According to California Association of Realtors’ Agency Laws Summary Sheet, a Selling (Buyer) Agent must disclosure agency relationships by providing the appropriate Agency Disclosure form and asking for a signed receipt “ASAP Before Buyer Executes Offer (i.e., After More Than A Casual, Transitory, Or Preliminary Inquiry)”.

Buyer Broker Agreement:  A buyer is free to use any Realtor unless there is a signed agreement; however, many buyer/agent relationships are based on mutual respect without use of a signed agreement.  If you are asked to sign an Agreement, it will be the Buyer Broker Agreement.  There are different reasons that a Realtor may ask you to sign this document.  Discuss this in detail with your Realtor if you are asked to sign this.

 C.A.R. Q & A about Buyer Brokerage and Agency.

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What’s been the trend in sales prices for south Santa Clara County real estate?  I’ll break it down by city looking at detached single family residences:

Morgan Hill median Sold Prices, down 31% August ‘08 vs. August ‘09:

Gilroy median Sold Prices August ‘08 vs. August ‘09 down 9%:

San Martin median Sold Prices, down 58% August ‘08 vs. August ‘09:

So, I am sitting here on a beautiful autumn day, in the office negotiating 2 contracts on one listing - we should all be so lucky!!  Must have priced the house correctly, huh?  (One smart Realtor!)  Only 5 days on the market.  So the question comes to my ...

STATS FOR LAST 7 DAYS

new listing 0, price reduced 2, sale pending 1, sold 1

new listing

price reduced  2950 Lincoln Ave, $895,000, 3 br 3 ba, 1,96 sf

                               1978 Adams St, $1,129,000, 4 br 3 ba, 2,715 sf

new pending     135 Vineyard Cir, $385,000, 2 br 2 ba, 1,154 sf

new sold             1877 Heritage Way, $1,100,000, 3 br 3 ba, 2,762 sf

average prices, days on market                  

current listings for sale    22   avg price $994,316;  avg days on market 234

current sale pendings          1   avg price $385,000; avg days on market 375

sold in last 6 months            7   avg price $981,500; avg days on market 165

          Facts, numbers, SF from BAREIS and/or Napa County

                     tax records,  accuracy is not guaranteed

STATS FOR LAST 7 DAYS

new listing 5, price reduced 5, sale pending 0, sold 1

new listing         n/a, $895,000, 2 br 3 ba, 1,700 sf

                               1638 Madrona Ave, $895,000, 2 br 1 ba, 1,136 sf

                               653 McCorkle Ave, $1,028,000, 3 br 3 ba, 2,110 sf

                               1702 Madrona Ave, $1,200,000, 3 br 3 ba, 1,600 sf

                               n/a, $2,995,000, 8 br 8 ba, 3,533 sf       

price reduced  1125 Fulton Ln, $350,000, 1 br 1 ba, 752 sf

                               1460 Conn Valley Rd, $995,000, 2 br 2 ba, 1,552 sf

                               1590 Chablis Cir, $1,295,000, 3 br 2 ba, 1,936 sf

                               2300 Vallejo St, $1,699,000, 2 br 2 ba, n/a sf

                               3075 St Helena Hwy, $2,600,000, 4 br 3 ba, n/a sf

new pending

new sold             1639 Adams St, $2,450,000, 3 br 3 ba, 3,094 sf

average prices, days on market                  

current listings for sale  107   avg price $2,749,279;  avg days on market 159

current sale pendings          6   avg price  $788,883; avg days on market 191

sold in last 6 months         37    avg price  $1,102,939; avg days on market 137

          Facts, numbers, SF from BAREIS and/or Napa County

                     tax records,  accuracy is not guaranteed

STATS FOR LAST 7 DAYS

new listing 1, price reduced 1, sale pending 1,  sold 0

new listing          n/a, $597,500, 3 br 2 ba, 1,440 sf                                

price reduced   3065 Myrtledale, $1,449,000, 3 br 3 ba, 3,050 sf       

new pending      3145 St Hwy 128, $2,995,000, 4 br 5 ba, 4,000 sf

new sold

average prices, days on market                  

current listings for sale    58   avg price  $2,225,612; avg days on market 193

current sale pendings       10   avg price  $1,158,600; avg days on market 137

sold in last 6 months         18   avg price  $792,556; avg days on market 184

          Facts, numbers, SF from BAREIS and/or Napa County

                     tax records,  accuracy is not guaranteed

Jennifer and I went for a little jog this morning.  It was cold and bright, about 37 degrees F when we arrived and about 41 when we finished.  I took this little video because I am playing with the Flip and wanted to see how it works.  Also, wanted to ...

[singlepic=185,320,240,,left]I can't believe I am writing this when it is 87 degrees F outside today, September 24, 2009 but this time of year we get lots and lots of calls at the real estate office asking us for referrals to rental agencies that have ski leases.  In case you don't ...

Here is exterior pic of a 2 bedroom townhome at Old Greenwood Lake Tahoe. The 2 bedroom 2.5 bath townhomes contain approx 1250sf of living space plus 1 car garage. 3 bedroom 2.5 bath townhomes containing 1800sf of living area plus a 2 car garage are also available.
Arn
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My morning bike ride took me to Crystal Springs Reservour. When I got
there, the fog had mostly lifted.