Two Condos, Two Sellers!

I recently closed on two homes with my clients, and wanted to share their stories. I helped Kevin (below) buy a condo before he got married, back in the downturn of the market in Roundtree. I sold his cousin’s house and helped them get into another home, so they referred me to Kevin.

Fast forward a few years Kevin and Katie married and had a baby girl who starts kindergarten in the fall, and they moved into grandma’s house (whose home I also helped with when she moved up from Southern California). They had been renting out their condo and decided it was time to sell. They had done some remodeling and we staged the home. It looked great, was listed at $350,000, was on the market for 11 days and sold for $360,000. I feel so grateful to have met this extended family.

I met Jill (below) through a referral from her goddaughter indirectly through another client I had helped last year. She also was renting out her condo in Martinez and realized it was time to sell. We did a few improvements (painted kitchen cabinets and added granite – see the before and after kitchen pictures below). Farm Lane was listed at $387,000 and sold for the list price after being on the market for 15 days.

Another closing at Tampico!

I recently closed a townhome on Tampico, and I’m so happy to have helped Tyler and Yana. They relocated about a year ago and decided to rent in San Francisco for a year and get a feel for the area. Tyler works down in Pleasanton and their San Francisco rent recently went up. They were very motivated to move back into home ownership.

We met one day over coffee and talked about the market, what they were looking for, timing, and the area they were most interested in. They loved Walnut Creek with Broadway Plaza, all the restaurants and overall vib. Since I had a previous appointment, we looked over some open houses in Walnut Creek and they decided to go look at a few. He called me later that day and said they really like a home on Tampico and wanted more information.

This home had been bought in July by an investor who flipped it. Timing is everything and the seller had the unfortunate experience of a soft second half of 2018. There had been a handful of price reductions until January where it was listed at $699,000, down from $775,000 – an opportunity for a buyer! It took a few days to get the financing and all the details, so about three days later we submitted an offer less than asking. In the beginning of January, the market again began to shift, this time upwards, and another offer was submitted and countered to $715,000. Their offer was accepted and then we started the inspections. They ended up with a $5,000 credit and some things that HOA needs to fix. Overall, it was a very smooth process and they are excited to be living in Walnut Creek with a yard for their dog and a nicely updated home! Congratulations!!!!

JVM Lending: If appraisal comes in low…

…a buyer is not overpaying! Appraisals and market value can be a tricky math problem for buyers to figure out, but that’s why my friend Jay Vorhees from JVM Lending has put together this handy-dandy blog to explain. Take a look below:

When Appraised Value Does Not Equal Market Value

We have a buyer who was convinced she was “overpaying” for her property because her appraisal came in low. But, there were multiple offers for her property that were very close in price to hers, and there are nearby pending sales that are also similar in price. The entire issue has to do with appraisal guidelines. We repeat this often in this blog because the issue comes up so often: appraised value often does not equal market value.

If there are multiple buyers willing to pay $850,000 for a property in an open market, then that property’s market value is $850,000. But, appraisers cannot appraise properties (in most cases) above the highest closed comparable sale in the neighborhood. So, if there are no closed sales above $800,000, that property will usually not appraise for over $800,000.

But, again, that does not mean the above property is not “worth” $850,000. Once this was explained to our buyer, she was no longer concerned about her low appraisal. This is something every buyer needs to understand in a fast-appreciating market where contract prices are tough to support in an appraisal.

***

This is something I deal with constantly with my own clients. Jay hits the nail on the head here: appraisals may come in lower than expected, but it is not equal to a diminishing value on the property. For more helpful information like this, give me a call! I can talk about real estate all day 😉

The universe provides the right house

Don’t get me wrong – the right house for you won’t just magically appear out of thin air! People like me do a lot of work to find you your dream home and get it all properly situated. But there is a lesson in real estate that I believe is valuable: The universe always provides the right house in the end.

You can always look back with regrets, but there are reasons for everything. Even reasons for why getting your dream house took so long or why you didn’t get the first house you loved. The right one always comes along! Check out this graphic from the California Association of Realtors.

As you can see above, most homeowners didn’t find their home for at least 3 months. Whether it was price, location, aesthetics and amenities, or simply just being outbid, it is very common to not get the first house you offer.

That’s why you have me! I’ll be the one to help you attain your dream home by walking you through the process, preaching how important patience is, and making sure the whole, stressful process runs smoothly. In the end, the universe always brings you the right home!

Client Appreciation Party

After sending out invites, speaking with past clients and those who have referred me, coordinating with the venue, and designing the event, I am happy to share some pictures of a fun day with my wonderful clients and friends. I also want to give a big shout-out to Prima Ristorante, where we enjoyed appetizers, wine tasting of old and new-world wines, great company and friendship all in the cozy space of their room with a fireplace.

Frank, our sommelier, did a wonderful job of introducing us to the nuances of French vs. California wines, and we finished with a blind tasting of a white and red. We had to guess if it was a French or California wine based on the taste. We also had a seasoned waiter who served us some amazing appetizers of calamari, shrimp, antipasto platters, rice balls and deep friend olives – yum!

We also gave away some door prizes: two $50 gift cards to Whole Foods donated by Lukasz Wilk of Wolf Construction, a certificate for house cleaning donated by my stager Heather Farry, and two bottles of wine from Prima as part of the day’s event.

Many may think the job of a realtor only involves buying and selling homes with my clients. But being a guide, friend and advocate for my clients is actually the biggest part of the job and celebrating them is my favorite part! I look forward to seeing new and old faces at future events!

Things NOT to do when your house goes on the market

You’ve probably seen endless lists about how to sell your home. Everything from choosing the realtor, to the staging, to the deliberation is under the microscope. But how often do you get told how NOT to do things? RIS Media has put together a good four-step process for how to not get in your own way when selling a home.

First, don’t over-improve the house, the article says. This is good advice. While it’s important to clean up any holes and cracks in the wall, and make sure the lighting is fresh, etc., doing too much can be damaging to your case. But if you go out and make your dream changes to the house right before you sell it, you better hope your potential buyers see it as an awesome improvement, too, and not a large project to fix.

Next, don’t over-decorate. Simple, neutral colors and decorations will be just fine. Similarly to the first point, if you decorate your home with a bunch of lace, lavender and lemon scent because they are things you like, you’ve done too much. What if a buyer walks in and is immediately overwhelmed by it all? Keep it simple. Remember, the buyers are the ones who get to decorate when they move in. This is why I pay for a staging consult; because it tells you what to remove, and then I highly recommend doing some staging as it makes a huge difference in how your home is photographed. The online view of those photos will be the first impression a prospective buyer gets, and will help them decide if they want to see your home in person.

Third, and probably most important: do not BE THERE when the buyers arrive. If your realtor is going to show the house, try to get everyone (pets included) out for a couple hours. Go to a movie. Have lunch at the park. Find a way to get out of the potential buyers’ ways, so they aren’t attacked by a bunch of people upon walking in. Remember, they want to see themselves in the house. Not you!

Lastly, don’t take things too personally. You’ve put a lot of blood, sweat, tears, money and memories into your home. When a buyer lowballs you or requests repairs, don’t be upset. They are trying to afford their newest home, too. And they might tell you the reason they have to offer low is because of something they think needs updating that you disagree with. Bite your tongue, and keep negotiating. Remember, it’s all a business!

Newest must-see boutique: Filthy Gorgeous

Can one city have too many boutique stores? Not when it’s the holiday season, and definitely not when the newest redo boutique store in town is one of the coolest ones I’ve seen!

Filthy Gorgeous took over the space on S. California Blvd. and Botelho Dr. next to the Site for Sore Eyes and Jinny’s. It is a small corner that was previously vacant. It is just a few steps away from Broadway Plaza, where it had a store prior to the Broadway Plaza remodel.

Besides the ideal location, Filthy Gorgeous has some truly stunning home decor in their store. You can get anything from furniture, to art, to lighting to the basic home decor. They also run an interior design business, and you can see pictures of ongoing local projects on the website.

The brother-sister team of Jonathan and Tirzah created Filthy Gorgeous together and have grown it into a massive business that has been featured in multiple national outlets and on TV. And now they are back in Walnut Creek!

When I visited, I was really impressed by the style and choices in the store (my favorite items was a Buddha Goddess Head). Someday, I’d like to redecorate certain parts of my house with items from Filthy Gorgeous. Once you visit, you’ll probably want to do the same!

Filthy Gorgeous gets a perfect 5 out of 5 Mt. Diablo’s from me!

SaveSave

Are millennials looking for homes or glorified dog houses?

Everyone loves dogs! I love my dog! You love your dogs, too! It seems that millennials especially like their dogs, as a recent Time article explained that “space for a dog” is the third-most common reason cited by millennials for buying a home in today’s market.

What really struck me about the article is this: “space for a dog” is listed ahead of “children” or “marriage” as reasons for purchasing a home. It came in only behind “more living space” and “building equity.”

Now, isn’t that interesting? We know millennials are getting married later and having fewer children than previous generations, and the housing market has become so expensive across the county that it prices out people who have spent money on marriages and providing for children, but it’s still surprising to see it behind a reason like “space for a dog.”

The rental market prices have also skyrocketed, which makes me think that millennials would rather pay a mortgage in some cases and have their own home with ample room for their four-legged friends, than pay a monthly rent in properties with strict pet policies.

I guess you can always buy a home first, let your dog break it in, and then bring in a partner and children! Whatever works! It’s just funny to see the difference between their generation and mine, and why they pursue home-buying.

Inspiration Saturday: The house you want

Open House this weekend: 3650 Sun View Ct. (Concord)

The Comforts of Home: 3-bedroom, 2-bathroom corner lot home!

Enjoy an eye-catching kitchen enhanced with new flooring, dual pane windows and a rebuilt back deck. The home boasts a 2-car garage, inside laundry, spacious bedrooms and updated bathrooms.

3650-sun-view-ct-2

Simplify your commute with a short walk to the North Concord BART station while living in a quiet, tucked away neighborhood.

Come check out the Open House this weekend! We’ll be open both Saturday (12/3) and Sunday (12/4) from 1-4 p.m.

Check out the virtual tour of 3650 Sun View Ct. here!