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Silicon Valley Real Estate Podcast with John Fagan
by John FaganIf you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Superior Realty Partners- your professional Silicon Real Estate Agents.
Copyright: John Fagan
Episodes
What Does a Home Warranty Cover?
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If you have any specific questions about home warranties, companies that provide them, or different types of coverages, give me a call or send me an emai
Real Estate Agents Can Help You With More Than Buying or Selling a Home
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
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How Much Money Is in Your HOA’s Reserve Fund?
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
You want to make sure you are moving into a community that is financially secure. Obviously, there’s an HOA fee due. Whether that fee is $50 or $350, you need to know what that money is going toward. What are you getting for that fee? The HOA fee covers amenities such as parks, pools, and landscaping, but a portion of that money goes to the reserve fund.
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Is It Really the Best Time to Sell in Silicon Valley?
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
In reality, not necessarily. It is a seller's market and a great time in general to sell, but as we always talk about in real estate, it goes back to the 3 most important things about a property: location, location, location. This is because real estate is very localized. An area may have an average value of $400 per square foot, but that's because one neighborhood has a value of $350 per square foot and another neighborhood in the same area has a value of $450 per square foot. With real estate being so localized, it's hard to say a blanket statement like "now is the best time to sell."
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The key to remember is to consider your neighborhood. It may not be the perfect time to sell right now, but it may be soon. We put a property on the market the week before Christmas. People were wondering why - but it was in a very desirable community with no other homes for sale, so no competition. It sold very quickly with multiple offers. In general, Christmas isn't the best time to sell a home, but it was the perfect time to sell that particular home.
If you're interested in selling your home and now is the best time, give us a call and we'd be happy to work with you. Likewise, if you have real estate topics that you'd like to see covered, let us know too.
What Happens When Your Offer Is Contingent?
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
On the flip side, most people do have a home to sell when purchasing a new one. How then do you win a bidding war with a property to sell? There are different stages of contingency. The further along you are, the better your offer looks.
For instance, you see your dream home listed on the MLS. You want to make an offer, but your home isn’t even listed. It’s not staged, and it might even need repairs. You’re not pre-approved and you haven’t pursued an inspection. Before jumping ahead, you need to do some work. Stage one involves the time it takes to prepare your home.
However, if you’re further along in the process, that strengthens your offer. If you’re considering buying a new property, I highly suggest starting the selling process as early as possible.
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If you've already prepared your home for sale, the next step might be to have professional photos taken and work on the marketing aspect. If you’ve handled all of this, your offer is even stronger. A step past that is already being listed on the market. An even further step would be already having a buyer, especially one that removed their contingencies! The further along, the better it looks for the seller.
If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. I’d be happy to answer your questions and serve your local real estate needs!
What Does the Silicon Valley Housing Market Look Like?
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
Overall, compared to 2015’s first quarter, it’s looking good! We’ve experienced a slight increase for average sales price and slight decrease in days on the market. Although other numbers in the region have remained consistent, we know real estate is hyper-local.
San Jose experienced an 8.7% sales price increase to $912,000. Morgan Hill experienced a 9.6% average sales price hike to $871,000. Additionally, in Morgan Hill, the average days on the market decreased to 33 days. We’re seeing some major improvements, but again, it needs to be broken down by specific neighborhoods.
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If you’re thinking about buying or selling in the surrounding area, you can reach me by phone or email at your earliest convenience. I’d be happy to provide you localized information about your neighborhood, as well as your home’s market value.
We were unable to find the audio file for this episode. You can try to visit the website of the podcast directly to see if the episode is still available. We check the availability of each episode periodically.
The Key to Winning Bidding Wars in Silicon Valley
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
- Before anything else, you will need to get a pre-approval for a mortgage loan. Most sellers won’t even look at your offer if you have not talked to a lender and gotten pre-approved. You need to prove that you can afford the home before you make an offer to the seller. You’ll also want to show proof of funds for the down payment.
- Writing a personalized letter to the seller is always helpful. You can include a picture of yourself and your family, and this can help put a face to your name instead of just a number. This can help to tug on the heartstrings of the seller, and sometimes this is the extra boost you need to push your offer to the top. Within the letter, tell them what you love about the home and neighborhood – especially any remodeling or upgrades the seller has done. Focus on how happy it will make your family.
- Make sure your actual offer is written properly. Consult with your Realtor in order to fashion an offer with a proper price and terms for the sale to occur. It’s important to have a professional that knows the local market to craft your offer and ensure you have a “complete package” before you submit it.
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If you need help writing an offer or navigating a tough market in Silicon Valley, please don’t hesitate to reach out to us!
Superior Realty Partners' Second Annual Jasper Park Easter Egg Hunt & BBQ
0s · PublishedThank you to everyone that came out for this incredible event. I’d like to give special thanks to those that helped planning and running it as well. My realty firm, Superior Realty Partners, sponsored the event and we are thrilled with the outcome.
We’re looking forward to another incredible year in 2017. We’d love to gain your continued support next spring as well!
We were unable to find the audio file for this episode. You can try to visit the website of the podcast directly to see if the episode is still available. We check the availability of each episode periodically.
Are Zestimates Accurate in the Silicon Valley?
0s · PublishedLooking to sell in the Silicon Valley? Get a Home Price Evaluation
However, Zestimates are within 10% of the sales price 68.8% of the time. That means this data is more than 10% off, 30% of the time. For instance, the average sales price in Santa Clara county was around $1,080,277 last year. If Zillow is off by more than 10% in 30% of their Zestimates, they’re off by $100,000 on average in Santa Clara county. That’s a huge difference in our area.
Ultimately, Zillow’s accuracy really depends on your neighborhood. Zestimates tend to be more accurate in larger neighborhoods of tract homes, since it has more data to pull from. Although I encourage real estate consumers to investigate Zestimates, you can’t rely on them for an accurate analysis. This data isn’t meant to be an appraisal. Only a professional in the industry, like myself, can provide that comprehensive information. Even Zillow stresses the importance that Zestimates are only the beginning to your home search and aren’t 100% accurate!
If you’re thinking about buying or selling a home in the Silicon Valley area, give me a call or send me an email. I’d be happy to provide an in-depth evaluation of your home. Additionally, if you’re interested in a particular topic to cover in a future video, please reach out with your suggestion!
We were unable to find the audio file for this episode. You can try to visit the website of the podcast directly to see if the episode is still available. We check the availability of each episode periodically.
What Are the Benefits of Homeowners Associations in Silicon Valley?
0s · PublishedLooking to buy in the Silicon Valley? Get a full Home Search
Looking to sell in the Silicon Valley? Get a Home Price Evaluation
For one, buyers want HOAs for the amenities that come with them. They also help with affordable housing on smaller lots that don't have room for pools, basketball courts, and so on. Since buyers still wanted these types of amenities, they were put into a common area that everyone in the HOA has access to and can enjoy.
Since many cities require or encourage communities to have these common amenities, but they don't want to be responsible to maintain them, they require communities to form HOAs in order for the burden of collecting dues to be placed on members of the HOA.
Lastly, stormwater runoff basins are being required in order to prevent flooding and other damages. This is also considered a common amenity that needs to be paid for by all members of the community.
There are many benefits associated with being part of a homeowners association. The most obvious benefit is the amenities themselves! Many of these communities have pools, spas, basketball courts, parks, play areas and workout areas, among other things. These are private amenities that are limited to people who pay into the HOA!
If you're living in a condo or townhome community, HOA fees might be a bit higher, but they cover the exterior of the building, the roofs, and the many other things that make these properties look nice. Beware that HOAs have restrictions and rules, which are liked and disliked depending on who you're asking. The rules are often in place to ensure home values in the area are maintained. In order to do this, there might be rules that stipulate that lots and homes are maintained. Whether or not HOA rules are desirable for you depend on your goals and on the particular rules of a given area, so it's definitely something to look into before making a purchase.
If you have any questions about HOAs, or if you would like our assistance buying or selling a home in Silicon Valley, please don't hesitate to reach out to us. We would love to chat!
Silicon Valley Real Estate Podcast with John Fagan has 13 episodes in total of non- explicit content. Total playtime is 0:00. The language of the podcast is English. This podcast has been added on December 18th 2022. It might contain more episodes than the ones shown here. It was last updated on March 23rd, 2024 21:15.