Bay Area home sales, prices drop in September

Bay Area home sales, prices drop in September

Check out this recent Mercury News article with updates on today’s real estate market in the Bay Area. Higher inventory has led to a drop in sales prices making this a great time for buyers to jump back into the market. The real estate market seems to have shifted in the past few months – I had 25 offers on one of my listings back in March of this year and now buyers are often only competing with a few others for homes. If you were considering making a move in the real estate market, now is definitely the time! Give me a call today at (408) 410-2060 to discuss your options! 

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7 Things You Should NOT do when Applying for a Home Loan

1) Don’t buy or lease an auto – Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.

2) Don’t move assets from one bank account to another –  These transfers show up as new deposits and complicate the application process as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if necessary.

3) Don’t change jobs – A new job may involve a probation period, which must be satisfied before income from the new job can be considered for qualifying purposes.

4) Don’t buy new furniture or major appliances with a credit card – If the new purchases increase the amount of debt you are responsible for on a monthly basis, there is a possibility this may disqualify you from getting the loan or even cut down the amount of available funds for closing costs.

5) Be aware of who runs your credit report – This will show as an inquiry on your lender’s credit report. Inquiries must be explained in writing.

6) Don’t attempt to consolidate bills before speaking with your lender – The loan officer can advise you if this needs to be done.

7) Don’t pack of ship information needed for the loan application – Important paperwork such as W-2 forms, divorce decrees and tax returns should not be sent with your household goods. Duplicate copies take weeks to obtain, and could stall the closing date on your transaction.

If you need help finding a reliable & reputable lender, give me a call! I have some fantastic lenders I can refer you to to qualify you for buying a new home.

Get Your Home in Shape for the New Year!

Ring in the new year right by getting your home in shape. Your home is your most valued possession so why not spruce it up for the year ahead!

Paint touch-up. Scuffs, dirt and even crayons can plague beautiful walls of a home. Simply mark those areas with blue painter’s tape and then walk around your home with a touch-up paintbrush.

Carpet cleaning. Carpets should be professionally cleaned at least twice per year. Now that you’ve enjoyed those festive holiday celebrations, have those muddy footprints, or worse yet, cranberry sauce stains, professionally treated.

Window washing. While the rainy season is still upon us, spring will be here soon. There is nothing worse on a beautiful home than dirty windows. So take the time to either hire a window washing service or if you’re a do it yourselfer, establish a weekend where you can dedicate yourself to the task at hand.

Fertilize your yard. Spring will be here before we know it. Many of our perennials require winter fertilizer to ensure they enjoy a robust bloom.

Donate old clothing. I once read that truly organized people throw away (or donate) one item for every one item that they bring into their home. Now is the perfect time to go through your closets and donate clothes and shoes that may no longer fit or are outdated. You can call the
Salvation Army at 1.800.95TRUCK to have them picked up at your doorstep.

Pantry and refrigerator cleaning. Do your salad dressings’ expiration dates say 2007? That’s a sign that it’s time to clean out your refrigerator and pantry. Be sure to check expiration dates on everything. You’ll be surprised to know that even pancake mix has a relatively short shelf life.

I work with an impressive list of professional home contractors, landscapers, painters and more. If you’d like a recommendation for any of the above services, please don’t hesitate to call me.

JUST SOLD! 324 Jackson Street, San Jose

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JUST SOLD! 324 Jackson Street, San Jose, CA 95112. Wonderfully well maintained townhome near Japantown! This beautiful 2 bedroom, 2.5 bath home features hardwood floors, granite counters, maple cabinets and  a loft area that could be used for a office or den. Negotiated for my client for the low price of $450,000!

Give me  a call today to learn more about this wonderful Japantown Community!

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Why You Should Consider Selling Your Home During the Holidays

Star Christmas Lights Hanging from an Eave

 If you are considering a move during this holiday season but you are unsure how the market will react, read on. You may be surprised to find that some of the most serious, ready-to-go buyers are waiting in the wings during the holiday season to take advantage of the market while others are out holiday shopping. At an open house a few weeks ago, I had over 125 people through both Saturday and Sunday, proof that plenty of buyers are waiting for your home to come on the market!

WHY SHOULD YOU CONSIDER SELLING YOUR HOME DURING THE HOLIDAY

  • Holiday buyers are particularly serious, committed and focused.
  • The corporate executive transferees have more free time to shop for a home now than at any other time of the year.
  • Over the holidays there are fewer homes available, therefore supply and demand work in your favor.
  • Homes are seasonally radiant during the decorative holiday period.
  • The holiday season is a time of heightened consumer spending.
  • Some buyers purchase homes as gifts.
  • Interest rates are still attractive.

TO PRESERVE PRIVACY OVER THE HOLIDAYS, AT YOUR REQUEST WE CAN TAKE AN EXCLUSIVE MARKETING APPROACH

  • All showings are by appointment and only available to qualified buyers.
  • Take a low key approach to advertising your home, reinforcing its exclusivity.
  • Don’t include property address in advertising.
  • Consider not placing your home on the MLS during the holiday period.
  • No lock box.
  • No open houses for either public or Realtors® (unless homeowners request otherwise)
  • No for sale sign.

If you are considering selling, give me a call today at (408) 410-2060 for a FREE home estimate. Also, remember, if you buy or sell a home through me, or refer me to someone who does, YOU get a FREE 16GB iPad4! What a deal!

Tips for Selling Your Home in the Fall

Summer has ended, the weather is cooling, leaves are changing and, you may be surprised to learn, homebuyers are out in force. Fall is a popular time for corporations to relocate associates – creating a pool of buyers who need to make quick decisions about housing. They’re serious about purchasing and, with fewer houses on the market this time of year, your house may soon be getting more attention. What can you do to make sure your home sells before all the leaves fall off the trees? Here are a few helpful tips.

Highlight the location. Bring the benefits of your location front and center. Establish a list of perks that your property offers, such as proximity to public transportation, schools, shopping, recreation or entertainment.

Use the season for curb appeal. Autumn is one of the most beautiful times of year and by using that to your advantage, your home can stand out from others in the neighborhood. Leaves turning shades of crimson and gold can add extra appeal, but be sure they don’t get out of hand. Keep trees and shrubs properly groomed and pick up fallen leaves before they suffocate your front lawn. Add pumpkins, gourds or a fall display to your front porch to invite in potential buyers.

Stage your home. Buyers need to be able to envision themselves living in your home before they will consider buying it. You can help them by de-cluttering, de-personalizing and thoroughly cleaning the entire house. Brighten your rooms by bringing the outside indoors with vases or displays of twigs, leaves or acorns from your yard.

Get everything in tip-top shape. Your buyer will most likely hire an inspector before closing, so pay close attention to elements around the home that are important in the fall. For example, make sure gutters are cleared of fallen leaves and that fireplaces are in working order.

Know your home. Access to real estate information on the Internet means that buyers are walking into your home more educated than ever. Take the time to review homes similar to yours on real estate websites like http://www.californiamoves.com or http://www.realtor.com. I can also let you know of the conditions and price ranges of other homes for sale in your area. This will allow us to better negotiate with potential buyers.

Despite what you may have heard, this time of year offers plenty of opportunity to sell your home. By taking a few simple steps to make sure you and your house are ready to hit the market, you can better prepare yourself for what is to come. After all, the more welcoming your home is to possible buyers, the more welcoming it will be to offers.

 

Does Moving Up Make Sense?

Has your family grown out of that 2 bedroom home? Are you considering a larger residence in a different area? Or perhaps you just need more room for the new family dog? Here is a great article from Realtor Magazine which discusses the questions to ask yourself if you are considering making the move into a larger home.

“These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, it’s a sign that you may be ready to move.

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains

2. Has your income or financial situation improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving. 

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a better school district. 

4. Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.”

If you are considering a move, now is a great time to take advantage of the low inventory of homes. With so many buyers and so few homes on the market, selling now often means multiple offers with buyers paying top dollar for your home. Additionally, if you are thinking of buying now, interest rates are at all-time historical lows which means saving money on your monthly payments. If a move is in your future, give me a call today to discuss your options!
Nicole Culbertson – Realtor

Coldwell Banker

(408) 410-2060

nicole.culbertson@cbnorcal.com