Excerpted from the San Jose Mercury News, SJMN
Market Wise Column
Saturday, August 23, 2008
Q: The well-maintained house we re buying was fully inspected and we were provided with those reports in the disclosure package. However, our buyer s agent insisted that we hire our own inspection companies and not accept the seller-friendly reports. Our pest report added up to $6,500 in damages due to dry rot and termites. The seller s pest report had one item with a $450 repair and several other items stating see other professionals. Both firms are standing by their reports and inspections. How can there be such a difference between inspections/reports within the same trade?
A: State-run Structural Pest Control Boards are formed to regulate the industry and to provide protection to the public. Licensed operators will have disclaimers in their reports stating, Registered companies should list the same findings (e.g., termite infestations, termite damage, fungus damage, etc). However, recommendations to correct these findings may vary from company to company.
In these cases, it s prudent to call both inspectors back to the property for a consultation with the parties involved. It sounds as if the seller s inspection company did not or would not bid on work outside the scope or skill of their workers. Correcting the architect s choice of decorative wood trim alone could easily run in the thousands of dollars. Plus, removing and replacing rotted or infested rafter eaves requires roof repairs.
Pat Kapowich for SJMN’s Market Wise Column
Do you have a question for the new real estate Q&A Market Wise column in the SJMN?If so, please email them to: pat@SiliconValleyBroker.com
Tags: Real Estate 101 · Dealing with Industry Bushwackers and/or Empty Suits · Another Q&A in S.J.Merc News ~ Pat Contributes · Buying & Selling Simultaneously (Moving Up or Down) · Buyer HQ ~ If Not Now, When? · Seller HQ ~ Buyer Beware? What About Seller Beware?
Course Title: “The Most Costly Mistakes Made by Buyers, Sellers & Agents & How to Avoid Them”
“Great presentation! Crisp & clear” Senzi
“Informative & well organized” Steve
“Unbelievable investment of our time” Matt & Giovanna
“Good info from qualified people” Sam
Description: The number one mistake made when negotiating a residential real estate transaction is when participants lack understanding of the responsibilities of all of the parties and their representatives. Learn how to negotiate a state-of-the-art sales transaction from A to Z. Real Estate Attorney Douglas White and Real Estate Broker Pat Kapowich will also review the complex process of buying and selling simultaneously.
Douglas represents buyers, lessors, seller, lenders, homeowners’ associations, and real estate brokers. Pat has achieved real estate’s highest designations, ABR, CRS, GRI & SRES. He is the creator and host of more than 100 consumer-protection cable television programs, Kapowich on Real Estate, as seen from South San Francisco to San Jose. Pat is also a contributor to the Saturday Q & A column Market Wise in the San Jose Mercury News.
Date: Saturday, 09/27/08
Location: De Anza College
Room: L-73
Time: 9AM-12PM
Fee: $39
Click Here for the De Anza College On-Line Registration!
Tags: Buying & Selling Simultaneously (Moving Up or Down) · Deposits ~ Earnest Money · Deja Vu ~ Pat Recalls · Contingencies · Common Mistakes to Avoid · Dealing with Industry Bushwackers and/or Empty Suits · Bank Controlled: Short Sales & Foreclosures · Real Estate 101 · For Seniors and Real Estate · Kapowich on Real Estate (Consumer-Protection Series) · Seller HQ ~ Buyer Beware? What About Seller Beware? · Real Estate Offices ~ Broker/Owner · Real Estate Myths · Buyer HQ ~ If Not Now, When? · Real Estate Attorneys · Contributors · Internet Lead Generation Companies · How Not to Sell a Home · Disclosures
What is Elder Financial Abuse, how to spot it, and who is mandated
to report possible abuses?
Real Estate Attorney Harold Justman will cover the common scenarios
in the growing trend of abuse in the real estate arena.
KAPOWICH REAL ESTATE - Sunnyvale, CA 94086 - SiliconValleyBroker.com Video
The rising problem of Elder Financial Abuse is committed by a host of
perpetrators: Loan officers, real estate licensees, caretakers, family
members and even persons purporting to love the senior in
“sweetheart scams.”Americans 50 years and older control 70% of the wealth. A fact, not
lost on unscrupulous professionals, business people, or persons
posing as such.Pat Kapowich, “Negotiating Smooth Transactions Throughout The South
Bay” SiliconValleyBroker.com
Tags: Real Estate 101 · Dealing with Industry Bushwackers and/or Empty Suits · For Seniors and Real Estate · Elder Financial Abuse · Real Estate Attorneys · How Not to Sell a Home · Disclosures
Buyer Beware?! What About Seller Beware?
How Sellers and/or their Licensees ask for Trouble
These licensees have literally been trained to set up tripods
with blown-up neighborhood maps, color coding the sales in the
area, in order to gain new buyer and seller clients. Yet, they
convince the seller that all this extra work is for them, the seller!
Setting up multiple trip hazards in your seller’s home and
then deceiving them about its purpose, is flat-out immoral.
Outrageous, when you think about it; they were hired to
protect their sellers, not bamboozle ‘em!
Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com
Tags: Buying & Selling Simultaneously (Moving Up or Down) · Buyer HQ ~ If Not Now, When? · Seller HQ ~ Buyer Beware? What About Seller Beware?
Excerpted from the San Jose Mercury News, SJMN
Market Wise Column
Saturday, August 23, 2008
Q: We are empty nesters in the process of buying a condo while concurrently selling our house. We are aware the sellers of our condo are also buying a house simultaneously. The growing family that is buying our house is also in the process of selling their current residence to first-time buyers. Who knows how many home sales are resting on the shoulders of this young couple on the bottom rung of the ladder? Since we have so many costs and commitments involved in this process, why are we not entitled to more information regarding the progress of their sale?
A: When sales are contingent upon one another, all the licensees should be communicating the progress of their transactions with good faith and fair dealing. If not, your licensee should call their managing broker for answers.
When the dominos of concurrent home sales fall apart, it s often due to the lack of skills and communication within one of the sales. All the more reason to scrutinize the licensees you ll be dealing with on all sides, as most don t possess the skill-set, training or experience to orchestrate buying and selling simultaneously.
Pat Kapowich for SJMN’s Market Wise Column
Do you have a question for the new real estate Q&A Market Wise column in the SJMN?If so, please email them to: pat@SiliconValleyBroker.com
Tags: Dealing with Industry Bushwackers and/or Empty Suits · Another Q&A in S.J.Merc News ~ Pat Contributes · Buying & Selling Simultaneously (Moving Up or Down) · Seller HQ ~ Buyer Beware? What About Seller Beware?
by Ryan Kapowich
The July 2008 Completed Sales Report for the city of San Jose Single-Family Homes saw a closing of 489 sales receiving 97.88% of list price. These closings represented a median price of $600,000 and an average price of $658,981. There were 1,286 new listings reported reported for July.
Total Sales: $322,241,968
The July 2008 Completed Sales Report for the city of Milpitas Single-Family Homes saw a closing of 24 sales receiving 95.95% of list price. These closings represented a median price of $590,000 and an average price of $609,377. There were 58 new listings reported reported for July.
Total Sales: $14,625,050
The July 2008 Completed Sales Report for the city of Campbell Single-Family Homes saw a closing of 17 sales receiving 98.21% of list price. These closings represented a median price of $775,000 and an average price of $814,676. There were 51 new listings reported reported for July.
Total Sales: $13,849,500
View Larger Map
July 2008~ San Jose Condos/Townhouses had 147 closed sales receiving 97.84% of list price. These closings represented a median price of $375,000 and an average price of $414,308. There were 423 new listings reported for July.
Total Sales: $60,903,335
July 2008~ Milpitas Condos/Townhouses had 11 closed sales receiving 96.5% of list price. These closings represented a median price of $508,888 and an average price of $463,308. There were 22 new listings reported for July.
Total Sales: $5,096,388
July 2008~ Campbell Condos/Townhouses had 15 closed sales receiving 99.68% of list price. These closings represented a median price of $506,000 and an average price of $503,333. There were 24 new listings reported for July.
Total Sales: $7,550,000
View Larger Map
July 2008~Single-Family Homes in San Jose had an average of 57 days on market (DOM) and 83 cumulative days on market (CDOM). Condos/Townhouses had an average of 54 DOM and 81 CDOM.
July 2008~Single-Family Homes in Milpitas had an average of 41 DOM and 67 CDOM. Condos/Townhouses had an average of 48 DOM and 50 CDOM.
July 2008~Single-Family Homes in Campbell had an average of 40 DOM and 66 CDOM. Condos/Townhouses had an average of 107 DOM and 113 CDOM.
It is beneficial for KAPOWICH REAL ESTATE to be a member of
Silicon Valley Association of Realtors and Santa Clara County
Association of Realtors which partly supports MLSListings,
a Multiple Listing Service (MLS). MLSListings, also maintains
statistics on real estate transactions for Santa Clara County
and San Mateo County. We love this stuff!
Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com
Tags: San Jose Citywide/All Zones · Zone 6~Milpitas · Zone 15~Campbell & W.San Jose · Pat's Stats ~ Silicon Valley Real Estate
Excerpted from the San Jose Mercury News, SJMN
Market Wise Column
Saturday, May 10, 2008
Q: We bought our home during a hot market and were told if
we wanted to be taken seriously, we’d have to pay over list
price and have an as-is, non-contingent sale. Now that we
have to sell in this cooler market, there must be techniques
to reduce the likelihood of buyers demanding repairs and/or
lowball offers. Any suggestions?
A: Plenty. Inspect the property thoroughly and repair as many
items as possible. Consult an appraiser to help with pricing and
enlist his/her ideas for simple improvements that would add
to its salability, such as flowers, paint, carpet, etc. Consulting
a stager for one hour pays huge dividends, too. Prior to going
on the market, post all inspections, repairs and improvement
online; this is the disclosure package. Hiring a licensee with an
outstanding marketing plan and deft negotiating skills is an
absolute must. Then you ll be in a better position to attract
quality buyers who typically retain the services of talented
licensees who recommend well-qualified inspectors. Your
property and preparation will be a breath of fresh air to the
best buyers and their reps after they visit the homes of the
ill-prepared who are on their second or third price reduction.
by Pat Kapowich, Broker/Owner
Market Wise Column
Saturday, May 10, 2008
Do you have a question for the new real estate Q&A Market Wise column in the SJMN?
If so, please email them to: pat@SiliconValleyBroker.com
Tags: Dealing with Industry Bushwackers and/or Empty Suits · Another Q&A in S.J.Merc News ~ Pat Contributes · Buying & Selling Simultaneously (Moving Up or Down) · Seller HQ ~ Buyer Beware? What About Seller Beware?
Tags: Bank Controlled: Short Sales & Foreclosures · Dealing with Industry Bushwackers and/or Empty Suits · Real Estate 101 · Real Estate Attorneys · Buyer HQ ~ If Not Now, When? · Seller HQ ~ Buyer Beware? What About Seller Beware?
The July 2008 Completed Sales Report for Los Altos Single-Family Homes saw a closing of 21 sales receiving 98.64% of list price. These closings represented a median price of $2,100,000 and an average price of $2,199,523. There were 49 new listings reported reported for July.
Total Sales: $46,190,000
The July 2008 Completed Sales Report for Menlo Park Single-Family Homes saw a closing of 33 sales receiving 99.01% of list price. These closings represented a median price of $1,350,000 and an average price of $1,345,073. There were 48 new listings reported reported for July.
Total Sales: $44,387,412
The July 2008 Completed Sales Report for Palo Alto Single-Family Homes saw a closing of 45 sales receiving 102.59% of list price. These closings represented a median price of $1,750,000 and an average price of $1,825,515. There were 54 new listings reported reported for July.
Total Sales: $82,148,187
View Larger Map
July 2008~ Los Altos Condos/Townhouses had 2 closed sales receiving 99.49% of list price. These closings represented a median price of $777,000 and an average price of $777,000. There were 4 new listings reported for July.
Total Sales: $1,554,000
July 2008~ Menlo Park Condos/Townhouses had 13 closed sales receiving 97.56% of list price. These closings represented a median price of $1,100,000 and an average price of $1,011,384. There were 13 new listings reported for July.
Total Sales: $13,148,000
July 2008~ Palo Alto Condos/Townhouses had 14 closed sales receiving 99.56% of list price. These closings represented a median price of $898,000 and an average price of $886,817. There were 13 new listings reported for July.
Total Sales: $12,415,450
View Larger Map
July 2008~Single-Family Homes in Los Altos had an average of 32 days on market (DOM) and 61 cumulative days on market (CDOM). Condos/Townhouses had an average of 6 DOM and 150 CDOM.
July 2008~Single-Family Homes in Menlo Park had an average of 47 DOM and 62 CDOM. Condos/Townhouses had an average of 48 DOM and 66 CDOM.
July 2008~Single-Family Homes in Palo Alto had an average of 20 DOM and 26 CDOM. Condos/Townhouses had an average of 37 DOM and 38 CDOM.
View Larger Map
It is beneficial for KAPOWICH REAL ESTATE to be a member of
Silicon Valley Association of Realtors and Santa Clara County
Association of Realtors which partly supports MLSListings,
a Multiple Listing Service (MLS). MLSListings, also maintains
statistics on real estate transactions for Santa Clara County
and San Mateo County. We love this stuff!
Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com
Tags: Zone 300-311~Menlo Park · Zone 230-243~Palo Alto · Zone 211-214~Los Altos · Pat's Stats ~ Silicon Valley Real Estate
The July 2008 Completed Sales Report for Sunnyvale Single-Family Homes saw a closing of 62 sales receiving 100.01% of list price. These closings represented a median price of $876,000 and an average price of $851,510. There were 82 new listings reported reported for July.
Total Sales: $52,793,638
The July 2008 Completed Sales Report for Cupertino Single-Family Homes saw a closing of 55 sales receiving 100.06% of list price. These closings represented a median price of $1,138,000 and an average price of $1,118,353. There were 98 new listings reported reported for July.
Total Sales: $61,509,421
The July 2008 Completed Sales Report for Santa Clara Single-Family Homes saw a closing of 43 sales receiving 97.86% of list price. These closings represented a median price of $671,000 and an average price of $766,603. There were 100 new listings reported reported for July.
Total Sales: $32,963,950
View Larger Map
July 2008~ Sunnyvale Condos/Townhouses had 22 closed sales receiving 98.84% of list price. These closings represented a median price of $554,000 and an average price of $532,790. There were 37 new listings reported for July.
Total Sales: $11,721,400
July 2008~ Cupertino Condos/Townhouses had 25 closed sales receiving 99.47% of list price. These closings represented a median price of $740,000 and an average price of $730,403. There were 38 new listings reported for July.
Total Sales: $18,260,080
July 2008~ Santa Clara Condos/Townhouses had 29 closed sales receiving 97.76% of list price. These closings represented a median price of $455,000 and an average price of $488,853. There were 46 new listings reported for July.
Total Sales: $14,176,751
View Larger Map
July 2008~Single-Family Homes in Sunnyvale had an average of 25 days on market (DOM) and 39 cumulative days on market (CDOM). Condos/Townhouses had an average of 41 DOM and 61 CDOM.
July 2008~Single-Family Homes in Cupertino had an average of 21 DOM and 24 CDOM. Condos/Townhouses had an average of 18 DOM and 24 CDOM.
July 2008~Single-Family Homes in Santa Clara had an average of 34 DOM and 65 CDOM. Condos/Townhouses had an average of 60 DOM and 77 CDOM.
View Larger Map
It is beneficial for KAPOWICH REAL ESTATE to be a member of
Silicon Valley Association of Realtors and Santa Clara County
Association of Realtors which partly supports MLSListings,
a Multiple Listing Service (MLS). MLSListings, also maintains
statistics on real estate transactions for Santa Clara County
and San Mateo County. We love this stuff!
Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com
Tags: Zone 19~Sunnyvale · Zone 8~Santa Clara · Zone 18~Cupertino · Pat's Stats ~ Silicon Valley Real Estate
