Monday, October 20, 2014

The Villages Golf and County Club San Jose Market Report: Sept. 2014


Villages san jose home sales
As you can see from this chart in Sept of 2014 homes in the Villages San Jose sold for just over 101% of list price on average. There were 14 closed home/condo sales in The Villages Golf and Country Club in San Jose ranging in price from $330,000 to $884,000. The average days on market was 10 days.
Prices in the Villages San Jose have not yet reached their peak from 2006 but things are picking up. In the same period of 2013 there were 14 Villages of San Jose sales the same as in September of 2014. In September of 2013 the average sale price at The Villages San Jose was $517,750  with an average list price of $522,000. In September of 2014 the average sale price at The Villages San Jose was $555,500 with an average list price of $544,475.
The trend for sales in the Villages San Jose is definitely up. This seems to be particularly true for the homes that do not have any stairs to enter, either up or down. These homes are generally selling in a week or less. Last month's average days on market was 10, as compared to 29 for June through Aug. This shows a real uptick in interest in prople buying in the development. There is also a $100,000 increase in average price sold which is a huge jump in one month.
It will be interesting to see how this plays out over the next year as there are more people reaching the age of 55 and who are looking to live in a home with less maintenance than most of the homes in the Silicon Valley.
Right now there are 9 homes on the market ranging in price from $299,000 to $905,000. If you would like to see the current inventory of condos for sale in The Villages of San Jose click here.  If you would like to see the current inventory of single family homes for sale in The Villages of San Jose click here.
If you have any questions about buying or selling a home in The Villages Golf and Country Club please feel free to contact me.
Marcy Moyer
Cal BRE 01191194
650-619-9285

Friday, October 17, 2014

This Palo Alto Condo Has No Reserve Fund, Can I Still Get A Loan?

I have a client who made an offer on a condo in Palo Alto at Tall Tree Estates downtown. I love this building. When I first came to Palo Alto in 1981 my dance teacher lived here. I thought it was the most elegant apartment I had ever seen. It was about 7 years old at the time, the building not me.
Since my clients are planned on writing an offer we got the disclosures, along with the home owner association docs to review before the offer. One thing stood out to me which is this Palo Alto condo has no reserve fund.
Palo Alto condo for sale
A reserve fund is generally part of a Palo Alto condo complex budget. The complex will collect money every month as part of the HOA dues. A portion of this money will not be used for day to day expenses, but rather be put aside in a reserve fund. This fund is used to pay for major expenses like a new roof, exterior painting, or replacing the elevator.
Occasionally a complex will decide that instead of collecting money for major repairs and replacement costs in advance the complex will keep the dues lower and collect for these expenditures as they come up. This plan can have advantages as well as disadvantages.
When a Palo Alto condo does not collect dues in reserve the monthly HOA dues will be much lower than in a building that does collect. Most complexes collect $150-$300 a month for their reserve funds. The owners of this Palo Alto condo building decided that instead of paying this amount monthly, they would be responsible themselves for saving the money for the capital expenditures. In the case of Tall Tree Estates they have had 3 assessments in the last 18 years. If you take $250 a month for 18 years that comes out to $54,000, a figure far above what the assessments during that time period added up to.
The downside here is that if someone sells, and then the next year there is a large assessment, the new owner will have to pay for a lack of past collections. If they hold their Palo Alto condo for a long period of time they will make money in the long run.
The biggest question a buyer of a Palo Alto condo without reserve funds has to answer is, "will my lender lend on this complex?" Different lenders have different requirements with respect to reserve funds and whether or not they will loan money. If you are planning on buying a Palo Alto condo without a reserve fund be sure and ask your lender what the regulations are before you make your offer.
Fortunately my clients had a lender who would make the loan and their offer was the winning bid. They are looking forward to many happy years in this downtown Palo Alto condo.
If you have any questions about buying or selling a condo in downtown Palo Alto please feel free to contact me.
If you want to search for condos for sale in Palo Alto click here.
Marcy Moyer
Cal BRE 01191194
650-619-9285

Wednesday, October 8, 2014

San Jose Condo For Rent: Dog Under 35 Lbs &Well Behaved Owner Wanted

1060 S 3rd #131
San Jose, CA 95112
Pets Under 35 lbs. And Responsible Owners Welcome


Price:$1,750.00
Bedrooms:1
Bathrooms:1.00
Square Foot:667
Lot Size:750 sq.ft.
Community:The Brickyard
County:Santa Clara
Property Type:Rental
Year Built:2005



click for more information and pictures
Property Description
Beautiful 9 year young condo downtown San Jose for rent on first floor in gated complex with direct exterior access. Condo features pergo floors, large balcony, granite kitchen and bath counters, gorgeous cabinets, in unit washer and dryer, central heat and air, walk in closet. Complex has pool, fitness room, common yard.

This Plogging® (property blogging) is brought to you by an Agent Marketing Plogger®
Features List
• 1 bedroom• 1 bath• Granite counters
• Pergo floors• Inside washer/dryer• Central Air
• Central Heat• 1 car parking• Security building
• Fitness Center• Pool• Common yard
• Great location!• 1 year lease
Equal Housing Opportunity.

How Much Should I Offer On A Home In Cupertino With Multiple Offers?

cupertino multipl offers
Anyone trying to buy a home in Cupertino right now knows that it is tough out there. There are many more buyers than sellers and many Cupertino homes sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Cupertino multiple offer situation and not overpay?
The answer is not simple, and sometimes it is
 not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.
But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Cupertino home in a multiple offer situation,
1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.
2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Menlo Park real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.
3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Cupertino listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Cupertino real estate agents like to do.
In the end, the final offer price and terms will be your decision, but if you have a great Cupertino real estate agent he or she can help guide you through the murky waters of Cupertino multiple offers.
If you have any questions about buying or selling a home in Cupertino please feel free to contact me.

If you want to search for Menlo Park homes for sale click here.

Marcy Moyer
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285

When Selling A Home In Palo Alto to Bee Or Not To Bee

selling a home in palo alto
I was recently asked to go to a home in the Barron Park neighborhood of Palo Alto to speak to the owners about possibly selling their Palo Alto home. We did the typical tour of both inside and outside of this lovely farm home style home from the early 20's. It had been in the family since it was built and the 3 siblings who inherited it are getting ready to sell this beautiful Palo Alto home.
There were many things that stand out about this beautiful old home, but to me the most interesting thing I saw was the largest bee hive I had personally seen in my 20 years in business.
It is not uncommon to see a termite report with a mention of a bee or wasp nest attached to the Palo Alto home for sale. When this happens as a Palo Alto real estate agent I generally tell my client that it is best to remove the wasp nest. Getting stung by a wasp is not going to give a potential buyer a warm fuzzy feeling about buying a Palo Alto home where the sting occurred. Get an exterminator!
Removing a bees nest is a little different. Bees are having some problems with survival, and we need them. They pollinate and make honey. There are a number of local companies that will remove the hives and not kill them. It is more expensive than an exterminator, but better for our environment.
I firmly believe that relocating bees when you are selling a Palo Alto home is the best idea. Not only can being stung by a bee be uncomfortable for potential Palo Alto home buyers, but it can also be a real health hazard for those with bee sting allergies.
If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
If you would like to search for homes for sale in Palo Alto click here.
Marcy Moyer
Keller Williams Realty Palo Alto
www.marcymoyer.com
marcy@marcymoyer.com
Cal BRE 01191194
650-619-9285

Thursday, September 25, 2014

How Much To Offer For A Palo Alto Ca Condo With Multiple Offers

Palo Alto condo multiple offers
Anyone trying to buy a condo in Palo Alto right now knows that it is tough out there. There are many more buyers than sellers and many Palo Alto condos sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Palo Alto condo multiple offer situation and not overpay?
The answer is not simple, and sometimes it is not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.
 
But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Palo Alto hcondo in a multiple offer situation,
1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.
2. How is the asking price of this condo compared to market value? If the condo is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Palo Alto real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.
3. What is the style of the listing agent? Does he or she like to list condos very low to get as many multiple offers as possible on their Palo Alto listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Palo Alto real estate agents like to do.
 
In the end, the final offer price and terms will be your decision, but if you have a great Palo Alto real estate agent he or she can help guide you through the murky waters of Palo Alto condo multiple offers.
If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
If you would like to search for homes for sale in Palo Alto click here.
 
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Monday, September 22, 2014

Why You Need A Villages San Jose Real Estate Agent When Buying A Home

Villages san jose real estate agent
Buying a home in The Villages Golf and Country Club in San Jose is not like buying any other home in the Silicon Valley. You should not be alone for this. I highly recommend you start your search early on with a Villages San Jose real estate agent.
There are many reasons why this is the best way to go about buying a home in the Villages San Jose but here are my top ones.
1. There is only one day a year when open houses are allowed. Just to get inside the front gate you will need a Villages San Jose real estate agent. This community is not like others where you can spend months going to open houses and learning the subtleties of the different villages.

2. There are rental restrictions in place and each individual village has a certain allotment. If you ever want to rent out your home a Villages San Jose real estate agent can do the research and help you determine which villages have the most rental allotments left.

3. There are strict occupancy rules for both age and number of residents per unit. A Villages San Jose real estate agent can look at your situation and help you determine if your family situation will fit into the rules.

4. There are 13 different villages within The Villages Golf and Country Club San Jose. The value of each of the individual condos and homes for sale are dependent on not only the size, but also in which Village an individual home is located. A Villages San Jose real estate agent can help you figure determine the value of homes in all the villages and what a fair market price will be.

Right now there are 8 homes on the market ranging in price from $310,000 to $610,000. If you would like to see the current inventory of condos for sale in The Villages of San Jose click here.  If you would like to see the current inventory of single family homes for sale in The Villages of San Jose click here.
If you have any questions about buying or selling a home in The Villages Golf and Country Club please feel free to contact me. I own a home in The Villages and would love to help you.
Marcy Moyer
Cal BRE 01191194
650-619-9285

Tuesday, September 16, 2014

How To Clean Out A South San Jose Probate Home Before Selling It

There is nothing I enjoy more than helping a family sell a South San Jose home in Probate. I know, it doesn’t take much to make me happy, but I am who I am. Over the years I have developed a system to sell South San Jose homes in probate and it works really well!

 1. Look at a home and see if there are valuables that are worth selling in the South San Jose Probate home. Many homes are left with enormous amounts of personal property, sometimes with value and sometimes not. For example crappy cars have value, but beautiful over stuffed furniture does not.

2. If there is something of value to sell in the South San Jose Probate home I usually recommend calling an auction house to come and take over the job of selling the personal property they believe will sell. I like DGW, but there are others. They sell the property at auction, deduct their percentage and fees, and send a check to the heirs.
San Jose Probate Sale
3. The next step is to separate the recyclable items and find places to recycle. There are people who take metal, The Ecunemical Hunger Project will take clothes, and the County of Santa Clara will come to take the paint.
4. Next are items that can be donated. Organizations like Goodwill and Saint Vincent De Paul will take some furniture.
5. After everything that can be sold, donated, or recycled is gone then call the haulers. I like Junk King. Since it costs money to haul away trash I only do it after all other ways of disposing of unwanted property have been exhausted.
6. Once the South San Jose Probate home is free of personal property and debris, the process of making it look as good as possible for sale can begin.

So, if you have a Probate home in South San Jose and it is filled with stuff, it may seem overwhelming. Many people who lived through the depression maintained the habit of never throwing anything out. If you are the personal representative for the estate of a home in Probate in Redwood City you may feel overwhelmed. But if you use a system (or hire me and let me organize the sale of your South San Jose home in Probate ), it becomes a much less daunting task.

If you have any questions about Selling a South San Jose home in Probate please feel free to contact me.

Marcy Moyer
650-619-9285

Market Report For The Villages Golf and Country Club San Jose

It has been a very brisk time for sales in the Villages Golf and Country Club in San Jose this summer.

selling a home in the Villages San Jose
As you can see from this chart in June of 2014 homes in the Villages San Jose sold for just over 100% of list price on average. There were 21 closed home/condo sales in The Villages Golf and Country Club in San Jose ranging in price from $290,000 to $1.050.000. The average days on market was 29 days.
In July of 2014 the home sales in The Villages San Jose were 101.4% of list price. There were 15 condo sales in The Villages San Jose ranging in price from $305,000 to $749,000. The average days on market was 23.
In August of 2104 condos and homes in The Villages Golf and Country Club San Jose sold for 99.6% of list price. There were 9 condo sales ranging in price from $304,000 to $820,000. The average days on market was 38 days.
Prices in the Villages San Jose have not yet reached their peak from 2006 but things are picking up. In the same period of 2013 there were 45 Villages of San Jose sales as compared to 53 sales in the same 3 months in 2014. In 2013 the average sale price at The Villages San Jose was $440,000  with an average list price of $444,9000. In June through Aug 2014 the average sale price at The Villages San Jose was $467,000 with an average list price of $460,000.
The trend for sales in the Villages San Jose is definitely up. This seems to be particularly true for the homes that do not have any stairs to enter, either up or down. These homes are generally selling in a week or less.
It will be interesting to see how this plays out over the next year as there are more people reaching the age of 55 and who are looking to live in a home with less maintenance than most of the homes in the Silicon Valley.
Right now there are 7 homes on the market ranging in price from $310,000 to $610,000. If you would like to see the current inventory of condos for sale in The Villages of San Jose click here.  If you would like to see the current inventory of single family homes for sale in The Villages of San Jose click here.
If you have any questions about buying or selling a home in The Villages Golf and Country Club please feel free to contact me.
Marcy Moyer
Cal BRE 01191194
650-619-9285

Monday, September 15, 2014

A Fantastic Experience With Bank of America in A Mountain View Sale

Last week I wrote a blog about how a lender can derail a home sale. Today I want to write about how a lender made a Mountain View home sale happen. The lender is Lisa Austin with Bank of America. As a Mountain View real estate agent I could not be more impressed.
I have been working with a great couple who were looking for a home in Mountain View Ca. I know, who isn't looking for a home in Mountain View if you work in the Silicon Valley. The market here is intensely competitive, and it is not uncommon to make 10-15 offers on Mountain View homes before being successful. Getting out bid is the norm, especially if you are getting a loan.
buying a mountain view home
My clients were outbid twice on homes in Rex Manor. 3 weeks ago they made an offer on a home in North Whisman. Lisa Austin from Bank of America called the listing agents and talked to them about how qualified my clients were and how she could absolutely close the escrow in 25 days. It would have been 24 but we had a day off for Labor Day.
The listing agents were so impressed with Lisa's professionalism and knowledge they said it was one of the big factors in our offer being accepted over 5 other offers.
The appraisal was smooth and even came in at value even though there were no comps in the immediate neighborhood. The appraiser used comps from Rex Manor and had no problem with the value of this Mountain View home which is not always the case in today's appreciating market.
Loan docs for this Mountain View home came in on time as did funding the loan. The loan funded on Friday, for a Monday close. Most banks would charge the buyer for interest on the loan over the week-end, but not Bank of America. My Mountain View buyers do not start paying until they close on Monday.
All in all the process could not have been smoother, and I have some very happy clients.
If you have any questions about buying or selling a home in Mountain View please feel free to contact me.
If you would like to contact Lisa Austin at Bank of America her contact info is:
Lisa Austin
Mortgage Loan Specialist
NMLS ID 483486
Retail Mortgage Sales
Bank of America Home Loans
1010 El Camino Real Ste 360
Menlo Park, CA 94025
If you want to look for homes for sale in Mountain View click here.
Marcy Moyer
Cal BRE 01191194
650-619-9285