11 reasons your home isn’t selling

RIS Media shared a story from Charles Muotoh giving 11 reasons your home may not be selling. I found the piece very interesting and have summarized the points below, and added some commentary. Let me know what you think!

You overvalued your property: Overpriced homes will not sell. Simple as that. If you have an experienced real estate agent, they can give you an accurate value of your home.

Your listing is poor: You can’t poorly write the description of your home without any images. It will be skipped. Work with your realtor to make the listing attractive and interesting.

You’re always present at showings: Do not get in your agent’s way at showings. Let them do what they are experts at. Buyers don’t want you hovering over them the whole time anyway.

You’re too attached: If you are too stubborn to refuse to negotiate your price down, then there’s a good chance that you’ve become too attached to your home. That will make selling difficult.

You haven’t had your home professionally cleaned: What kind of buyer in their right mind will want a dirty house? Ask your realtor to recommend a professional cleaner for the carpets and windows before showing your home.

You haven’t staged your home: Never show an empty house, because it’ll make it hard for buyers to picture living in it. Always have it staged. Your realtor should have a stager on speed dial!

You kept up all of your personal décor: If you keep your home personal (with pictures, etc.), buyers will feel uncomfortable in your house. Take those down before showing the home!

Your home improvements are too personalized: If you tailored your kids’ rooms to their specific obsessions, that’s great…until you need to sell the home. Those little touches could scare off buyers.

Your home is too cluttered: Clutter can still be an issue in a clean home. Don’t keep too much furniture in the rooms – it will make your house feel smaller than it is!

Your home is in need of too many repairs: If a buyer knows he or she has to do a bunch of repairs, they are less likely to want to make a move. That’s a lot of extra effort and cost on their parts, even if the repairs are minor.

You choose the wrong real estate agent: You may have noticed a theme throughout many of these previous points. Choosing the right real estate agent is absolutely essential to the selling process. We can make all the difference in selling your home for the right price, in a reasonable amount of time!

Inspiration Saturday: Beginning

From Seth Godin’s blog:

Beginning is underrated.

Merely beginning.

With inadequate preparation, because you will never be fully prepared.

With imperfect odds of success, because the odds are never perfect.

Begin. With the humility of someone who’s not sure, and the excitement of someone who knows that it’s possible.

American Kitchen in Lafayette is cute, cozy and comforting

A friend recently treated me to dinner at American Kitchen in Lafayette for my birthday. This was my first visit and I enjoyed the atmosphere, service and food. What I am most excited about is a having a new place for breakfast! Tucked in between Chow and some non-descript office buildings in downtown Lafayette, American Kitchen is a hidden gem among the other well-known restaurants and bars.

It is actually an 80-year-old converted farmhouse that is run by locals Victor Ivry and Sariah May. They emphasize American comfort food and use the freshest, healthiest, most local ingredients. The coolest part about the space itself isn’t necessarily the adorable indoor dining area. It’s their “front yard,” which has a fire pit, a patio and multiple seating areas. It gives off the vibe that you’re enjoying your meal at a homey picnic more than a restaurant, which I loved.

I had the Gingered Squash & Pear Soup and a small Autumn Chopped salad with chicken, along with a glass of champagne. I was so enjoying my dinner and conversation that I forgot to take pictures of the food, but there are enough of the venue to entice you to try American Kitchen. They also have “themed nights,” like burgers on Monday, “Breakfast for Dinner” on Tuesday, and grilled cheese on Sunday.

It is truly a family spot, with drawings from the kids posted at the front door and only beer and wine being served. Stop by American Kitchen and give it a try for breakfast, lunch or dinner – I would love to hear your review.

Overall, I give American Kitchen 4 out of 5 Mt. Diablo’s!

How to get your offer accepted in a crowded market

Our friends at JVM Lending shared a Redfin link recently that had a ton of great information on how to get an offer accepted. I currently have two homes on the market and the amount of offers on each are on opposite ends of the spectrum; I have one with 21 offers, and the other with 6. It’s funny to see that disparity between the two, and strategies to get an offer accepted and/or a house sold, can vary greatly because of it.

Here are some pro tips from the Redfin piece:

Nearly 1 in 4 (23.6%) homes that sold in 2017 went for over asking price, up from 21.8% in 2016. This means that buying a home has become more difficult and expensive in a hot, crowded market. You can’t simply offer the highest price and expect to be selected by the seller. Instead, try other strategies like offering all cash, waiving the inspection, or writing a personal cover letter to the homeowner. Above all, make sure you talk to your agent to create the right combination of strategies for the home you’re bidding on, or for the seller you’re trying to woo.

Here is some information from the Redfin article that breaks down data on thousands of offers written over the last two years, to see how effective these other strategies can be in improving a buyer’s chance at winning a bidding war:

Rank Strategy Improves a Competitive Offer’s Likelihood of Success by… Improves a Competitive Offer’s Likelihood of Success in the Luxury Market (Top 10% by List Price) by…
#1 All-Cash Offer 97% 438%
#2 Waived Financing Contingency 58% 76%
#3 Personal Cover Letter 52% No Significant Gain
#5 Pre-Inspection No Significant Gain No Significant Gain
#6 Waived Inspection Contingency No Significant Gain No Significant Gain

Cash is king, as you can see above. That’s because it allows for smooth, fast transactions without the hassle of loans or appraisals. If you don’t have the means to make an all-cash offer, you can always waive your financial contingency, which means you won’t have to wait for a loan approval. That will still increase your odds by 58%, according to Redfin! However, I find that the cash offers – especially if they are investors – will not be the highest price. On the home that had 21 offers, the key to the winning bid was who removed a portion of their appraisal contingency as the offer was so high we all knew it wouldn’t appraise, but that means the buyer has to have extra cash. That can be tough when it is an entry-level condo.

All this said, sometimes it just takes a personal touch to win over a seller. Writing a letter to the seller can be effective and increase your odds in a bidding war. Fortunately for most buyers, cash is not the only way into a seller’s heart.  Often these letters can forge a powerful connection between the buyer and seller, highlighting shared hobbies or interests, earning a seller’s compassion or trust, or ensuring that the home will be loved and cared for in the years to come.

So, whether you are offering all cash, waiving contingencies, writing a personal letter, or trying any number of other strategies to win the bidding war on the house of your dreams – especially in a saturated market like the Bay Area – always remember to consult your realtor first. He or she will have great insight into the market and what extra touches it might take to get the home, but at the end of the day the buyer has to be comfortble with the offer they are making!

Art Town: The beautification of Main St.

As Walnut Creek continues to rapidly evolve, with it goes the art scene. We try to feature cool public art pieces around Walnut Creek in this Saturday showcase. This week, we want to pay homage to the general beautification of Main St., especially all the colorful new planters!

As you can see, these really pop and make the sidewalks much more attractive. All the minor landscaping details and added colors have begun to give Walnut Creek’s remade downtown corners a lot more character. Instead of a sea of concrete and expensive shops, locals and visitors will be distracted by all the good-looking art!

That’s a good thing. I really appreciate that the city is making an effort to incorporate art into its downtown landscape. It seems very necessary! As long as there are beautiful flowers in beautiful planters along the sidewalk, it will feel pretty homey around here.

Pinky’s Pizza – still a Walnut Creek classic!

If you’ve lived in Walnut Creek long enough, you’ll remember Pinky’s Pizza and its old location across from the current Trader Joe’s. That was the place to go for pizza after swim meets, soccer games and school functions. When it shut its doors many years ago, it seemed like the next in a long line of Walnut Creek classics to be chased away by inflated costs.

via Groupon.com

Luckily, Pinky’s was spared. It re-opened a new location across from the Post Office in downtown Walnut Creek a few years ago. The pizza tastes exactly the same (some like it, some hate it…I am personally not a fan of the cheese, their own special blend), but they’ve come back with more TV’s, fewer arcade games and a revamped menu and bar.

For whatever you think of the pizza itself, you can’t beat the friendly staff and environment that has made Pinky’s a favorite among locals for decades. Nowadays, Pinky’s is actually a really cool place to watch sports, as they have enough seating inside and a little outdoor seating area as well. They make sandwiches, salads and wings now, too.

via Yelp.com

Pinky’s is definitely more grown-up now with the bar scenario and their awesome Happy Hour (Monday-Friday from 3-6 pm), but still caters to kids. Any kid 12 and younger can get a free ice cream, and there are still plenty of classic arcade games in the corner for them to play with.

Whether it’s the nostalgia, the service, the fact that Pinky’s has survived the Walnut Creek rent crisis, or the food itself, Pinky’s is still a downtown fixture. Hopefully, it’ll remain a place for after-Little League pizza and Warriors-watching for years to come (and provide a closer option than Rocco’s).

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!

Open House Saturday 1-4 pm, Kirker Pass Rd. in Concord

Offers Due Monday 2/5 at noon!

Top 5 Housing Predictions for 2018

As the first month of the new year closes, we are starting to see the 2018 market take shape, and getting a clear look back at the 2017 year. Last year was a strong one for sellers – interest rates remained low, but are now rising, and refinancing plummeted. So, what’s next for 2018?

Take a look at the summaries of Summit Funding’s Top 5 Housing Predictions for 2018, with commentary from yours truly:

  1. A rise in cash-out refinance

Low-interest rates have fueled buying, kept inventory low, and likely even helped speed up housing recovery in Miami and Houston after their 2017 hurricanes. Interest rates will continue to rise in 2018, but not high enough to deter interested homebuyers. We should, however, keep an eye on a potential rise in cash-out refinance, as Americans’ home equity wealth is at an all-time high. We are also seeing the rise of all-cash purchases, a high rate of home purchase co-borrowers, and increased buying assistance from family. As home prices become even higher — and overvalued, according to CoreLogic — expect to see more parents cash out their home equity to help their adult children begin building their own housing wealth.

  1. Return to services

With higher home prices come great risks and more compromises for homebuyers, who will become ever more reliant on experienced and informed housing professionals to make buying and mortgage decisions. Mortgage rates will continue to become a commodity; homebuyers have access to rates on their devices and know mortgage brokers are quoting from the same rate sheets. As homebuyers evaluate their partners, they should look for realtors and mortgage professionals who offer value that protects the clients’ bottom line. Housing professionals who deliver this will be the ones who can truly stand out and have longevity in this crowded market. A great lender and agent can make all the difference in the world. Be careful you are comparing apples to apples when getting rate quotes, as it can’t be locked in until you get an accepted offer so lenders can you give varying rates as they know they will be different the day you get an offer accepted.

  1. Advancement in housing Fintech

Expect technology to continue to make breakthroughs in housing. The proliferation of information has made everyday consumers more demanding of progress and fairness, which is a good thing. They demand more competition for their business and stronger customer empowerment. New housing financial technology will not just be about faster search results or more photos, it will be expected to serve up more home buyer protection. In 2018, homebuyers will increasingly question why they could sell a home at a loss when realtors still collect their brokerage fees. When they see a pre-closing statement listing fee paid to protect their lenders, they would demand to see the calculation of risks and returns designed to protect their purchase. Getting ahead of these questions and demands will become table stakes in the advancement of housing financial technology.  This may be a ways off.  There is a lot of buyer protection now as a result of the downturn.

  1. Millennials may continue to prolong homeownership

Americans — including millennials — want to own homes; we knew this already. However, millennials may want other things in life more than homeownership, or they don’t want to be “house poor.” Affordability is definitely the top barrier to home buying, no doubt. However, there are increasing indications that millennials are not pulling out all the stops to buy a home even if they could afford one. In ValueInsured’s latest Modern Homebuyer Survey, 36% of millennials who want to buy a home say they are delaying buying in order to keep their options open. Nearly half (47%) of millennials also say they worry their job future is uncertain and want to figure that out first. Instead of paying high home prices, millennials have proven unafraid to give up buying and go back to renting. A generation known for defying conventions and expectations may change the housing market forever in 2018 if they say “enough” to high home prices and decide to do their own thing.

  1. The next Seattle or San Jose

In the future, scorching-hot real estate markets will give rise to more calm and cool emerging markets. Places like Provo, UT, Athens, OH and Aberdeen, SD may be hot spots in 2018. More Americans will telecommute to their jobs or shop from their devices instead of at malls. This is simply a fact of life. So, as real estate prices and commercial rents increase, more Asian fusion restaurants, CrossFit studios and organic micro-breweries will open in previously ‘B’ or ‘C’ designated counties. Once upon a time, Portland, OR and Chattanooga, TN were seen as hidden real estate gems, and now they are cities millennials are leaving behind in search of more affordable homes. Millennials’ tendencies to be nomadic and to reject established institutions (or markets), and their sophistication in forming their own community, could prove to be very interesting in challenging traditional housing cycles and expectations.

Stay tuned for December to see if these things panned out or were just a pie in the sky.

Walnut Creek Yacht Club: Better to be lucky!

For the record, it was me who was lucky in this situation! I had reserved a seat to Walnut Creek Yacht Club’s January lobsterfest but had to cancel when my son couldn’t get out of bed for lunch. Then, my friend Laura invited me with her reservation when a friend canceled.

This has been a yearly event that I have enjoyed many times. They used to charge the price of the year (i.e. $20.18), but this year they had to raise it to $25. If you’ve been to the Yacht Club before, you know that its cuisine is well-respected and the atmosphere is slightly upscale but inviting. “Lobster Month” is available for lunch or dinner, it includes 1.25 pounds of Maine Lobster either grilled or boiled, drawn butter, lemon, Regatta fries, and their WC Yacht Club coleslaw.

You do have to be a Loyalty Member (free!) to take part in the special deal, or even hear about them in their scuttlebutt newsletter and they can only accept in-restaurant reservations of 10 or fewer people, but it’s well worth it. One of the best-kept secrets in downtown Walnut Creek, especially since you have an entire MONTH to take advantage!

via wcyc.net

For this year, the lobster boil is almost over (unless you can snag a ticket last-minute for tomorrow), otherwise, you will have to wait until January 2019!