Here is the Single Family home sales statistics for Redwood City, July 2017. (Hold your breath):
New: 47. Inventory: 34. Sold: 38. Average Day on Market: 15. Average Sales Price: $1,647,573. Med Sales Price: $1,627,500. Price per square foot: $905. Total Sales Volume: $62,607,777. Average home size: 1,828 square feet. Months of Inventory: 0.7.
Call/text me if you are curious on your home’s worth at 650 483-4932!!
There are some ugly home features buyers don’t like, but are not too hard to fix if you are thinking of selling your home. According to a recent Realtor.com report, here they are:
Ugly kitchen cabinets
Most kitchens don’t require a full renovation. According to Remodeling magazine: “As long as the cabinets aren’t 20 or 30 years old, repainting and adding new handles is relatively cheap and can change the entire look of the room.” Refinishing an existing cabinet will cost about $1,400 to $3,500, according to HomeAdvisor, a home services marketplace.
Wallpaper covering the rooms is something else buyers don’t like. But removing and hanging wallpaper is a relatively easy do-it-yourself job. Or, hiring a contractor for professional wallpaper installation costs about $500 per room, according to HomeAdvisor.
Tacky paint colors
How about pink or purple? Try to help buyers overlook distracting colorful walls. Have them imagine it painted a color to make the room even look larger, like gray or a cool blue. After all, paint tends to be an easy fix, either as a do-it-yourself job or done professionally. Professional painters typically cost from $380 to $790 for a 120-square foot room.
Buyers sometimes focus on old or dirty carpeting. But a good cleaning can bring new life to worn carpet. Shampoo vacuums cost $90 to $200, a professional-grade carpet cleaner can cost $400, or you can rent one from a hardware store for about $25 to $30 per day. Professional carpet cleaning companies tend to charge a minimum of $75 to $109, according to CostHelper.com. For home purchasers who just can’t get past the carpet, they may want to budget for installing new carpet at about $2 to $5 per square foot for middle-grade carpet material, according to HomeAdvisor (often 1,200 square foot of new carpet will cost about $2,400 to $6,000).
These are some less expensive ideas to help you fix-up your home for buyers and get the most amount of money for your home. Want more? Email/Call or Text me at 650 483-4932 for many more ideas!
I like home inspectors, they do a nice job for my seller and buyer clients, and the reports they generate point out items to watch out for and may cost money to fix. According to a Realtor.com article, home inspectors have checklists that contain more than 1,600 features to evaluate. But some items require a specialist for a more thorough evaluation:
The Fireplace and Chimney
Inspectors often open and shut dampers to make sure they’re working properly. They may shine a flashlight up the chimney to look for any obstructions. But for anything further, buyers likely will need to hire a fireplace inspector to look for things like soot and creosote buildup, which are possible fire-starters. Those extra inspections could cost anywhere from $80 to $200.
A geotechnical or structural engineer may need to be brought in if a buyer has concerns about the ground underneath the home, such as whether any shifting, tilting, or sinkholes have caused damage. Professionals will test the soil for several potential problems. Basic testing likely will cost between $300 and $1,000, while more invasive testing can cost upwards of $5,000. Buyers on a budget might consult a free site called PlotScan, which reveals any history of sinkholes and other natural catastrophes in the vicinity of the home, to better understand whether they need further inspection help.
Well and Septic Systems
Although our area does not have many wells or septic systems, this can be an issue for some home buyers. Some home inspectors trained to evaluate septic systems may be willing to do an extra inspection for an added fee to test a home’s well water and septic system. Otherwise, buyers will have to hire a well inspector. These professionals will collect water samples to test in a lab for coliform, arsenic, and other harmful bacteria and chemicals. They’ll also make sure that seals, vents, and screens have been properly maintained and that the well and pump are producing enough water. That typically will cost about $250 for an inspection.
“We’ll go up on roofs if it’s safe,” says Frank Lesh, executive director of the American Society of Home Inspectors. “But if it’s raining or it’s too high, we’re not able to get to it.” A specialized roof inspection, which costs about $500 to $750, offers a closer look. Some roof inspectors will even do an initial consultation for free. Those who don’t go on the roof can sometimes conduct an infrared inspection to look for any temperature differences along the roof to see where heat or air conditioning might be escaping.
The Lesson: if you believe you need a better inspection in these 4 area, you are advised to take a better look through a specialist. Let me know if you are interested in buying or selling real estate and if you would like to know what to look for in a home inspection report. 650 483-4932.
Very nice, updated home open this weekend. Saturday from 1 pm to 4 pm and Sunday from 9:30 am to 1:30 pm. Address: 1265 Edgewood Road, Redwood City, CA 94062.
Over 21,000 ft² of lot space, in a garden-like setting, ready for expansion and or pure enjoyment. The property shows a permitted 1 bedroom 1 bath In-Law unit ready for your finishing touches. Also, a large outdoor studio, currently housing the seller’s landscape business. Let your imagination find its use for you!
The home boasts three bedrooms + office that can easily be used as 4th bedroom, off the kitchen, as it is now, with the half bath. Oak hardwood floors and newer kitchen and dining room flow out to the beautiful backyard. Mature landscaping and well-kept grounds show the owners expertise in landscape design and creativity. Newer roof and brand new driveway with plenty of parking for your family and guests! Come by and see it yourself!
As a home seller, one of your Realtor’s jobs is to get as many eyes on your house as possible.
What strategy does your real estate professional use to market outside the U.S.? What International organizations do they belong to? How will that make a difference when getting you the highest possible price in the least amount of time? Give me a call at 650 483-4932, and ask me those same questions.
Nicely updated condo! Located in one of San Francisco’s fastest growing, up and coming neighborhoods. This is a 3 bedroom, with 1 full and 2 half baths. New exterior shingle siding and new backyard Redwood fence. The well thought out 2-level floor plan shows the living, entertaining and kitchen space on the first floor and the top floor shows the master suite and 2 more bedrooms. Excellent natural lighting throughout the unit, with a storage shed, and a south facing private patio. Great location near the Dogpatch neighborhood, AT&T Park, Mission Bay, and near public transportation. This is an excellent opportunity to own in San Francisco!
Selling your home in the Winter season may actually be a good idea.
According to statistics, the Spring season is the best time since you have a better chance of selling for over asking (the list price) and getting into contract.
But, the second best season to list a home? That would be the Winter months. According to Redfin’s new report, Spring just nudges out the Winter season.
Spring listings received 18.7 percent above the asking price while Winter listings were close behind at 17.5 percent. Also 48 percent of homes listed in the Spring sold within 30 days and 46.2 percent of homes in the Winter sold within those same 30 days, not much of a difference!
Summary of the statistics:
Spring: 18.7% sold above list price
Winter: 17.5% sold above list price
Summer: 15.1% sold above list price
Fall: 14.7% sold above list price
Some reasons why listing your house in the Winter months are good:
Some sellers are waiting until the Spring season to list their home, but by then other seller listings are also on the market.
Your house will stand out better in the Winter months with less houses on the real estate market.
Buyers that are buying need to do so, regardless of the temperature outside. They may need to move immediately, for example, to re-locate for work.
The Winter months in the San Francisco Bay Area are not frigid like in other parts of the country as it can be back East, thus not affecting the real estate market as much.
Buyers without children or of school age may not need to be settled in their new home before the school year starts, thus can begin their search at anytime.
The perceived notion that buyers can get a better deal in the Winter months (somewhat) will bring out serious buyers.
If you have thought of selling or buying your home right now, give me a call at 650 483-4932. Also, call so I can send you my brochure “Selling Your Home in the Winter” which, by Redfin’s statistics, is certainly not a bad idea.
More homeowners have gained equity if you own a home on the San Francisco Peninsula, according to a new report released today.
CoreLogic® (NYSE: CLGX), a global property information, analytics and data-enabled solutions provider, just released an analysis showing that U.S. homeowners with mortgages (roughly 63 percent of all homeowners) saw their equity increase by a total of $227 billion in Q3 2016 compared with the previous quarter, an increase of 3.1 percent.
According to Frank Nothaft, the chief economist for Corelogic: “Home equity rose by $12,500 for the average homeowner over the last four quarters. There was wide geographic variation with homeowners in California, Oregon and Washington gaining an average of at least $25,000 in home equity wealth.”
The main cause of equity increase? Anand Nallathambi, president and CEO of CoreLogic: “Price appreciation is the main ingredient for home equity wealth creation, and home prices rose 5.8 percent in the year ending September 2016 according to the CoreLogic Home Price Index. Paydown of principal is the second key component of equity building. Many homeowners have refinanced into shorter-term loans, such as a 15-year loan, and by doing so, they have significantly fewer mortgage payments and are able to build equity wealth faster.”
The metro level, with the cities that have the highest percentage of mortgaged properties with positive equity are:
San Francisco-Redwood City-South San Francisco, Calif.: 99.4%
Houston-The Woodlands-Sugar Land, Texas: 98.5%
Denver-Aurora-Lakewood, Colo.: 98.4%
Los Angeles-Long Beach-Glendale, Calif.: 96.9%
If you would like a copy of CoreLogic’s 3rd Quarter 2016 Equity Report, and/or what this means for you if you are thinking of Selling, send me an email to email@example.com or give me a call at 650 483-4932.