Helping Our Clients Find Their Way Home – Cori & Daniel

It was a joy to help Cori and Daniel find their way home. With the East Bay Market gaining momentum as San Francisco and Peninsula prices kept on rising – we felt it was time to act. When the right townhome came on the market, we dropped everything to see it and write an amazing offer. We could see the potential. We knew what single-family homes were really selling for and we knew how special this home was. Cori and Daniel wrote the most competitive offer they could. Up against 16 offers – we were the strongest. Even after an appraisal surprise (ready more on appraisals in 2021 here) we managed to make this dream come true.

I’m grateful for my fellow agent Quinn who was great to work. It’s the relationships that matter. The Caton Team is here for your journey home – let us know how we can be of service to you and your referrals.

Turning Real Estate Goals into Reality – Mid-Pandemic – WE LOVE WHAT WE DO! HOW CAN THE CATON TEAM HELP YOU?

How can The Caton Team help You?

We truly enjoyed helping our first time Buyers find a better suited space for thier lives – mid-pandemic. The Caton Team loves what we do and would love to help you – please enjoy our resources below. Get to know us at through our clients words.

HOW TO SELL during COVID-19 | HOW TO BUY during COVID-19

 How can The Caton Team help You?

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |  EMAIL  |  WEB  |   BLOG

Get exclusive inside access when you follow us on Facebook & Instagram

HOW TO SELL during COVID-19HOW TO SELLHOW TO BUY during COVID-19- HOW TO BUY MOVING MID PANDEMICTRUST AGREEMENTS and HEALTH CARE DIRECTIVESOUR TESTIMONIALS

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL |  WEB|   BLOG

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

Testimonial of the Day – from Sarah & Ryan

“The Caton Team is UNBELIEVABLE! As first-time homebuyers, we had a lot of questions and worries. Sabrina and Susan guided us expertly through each step of the way. From start to finish, our journey with The Caton Team exceeded our expectations. Sabrina and Susan work tirelessly for their clients, have incredible communication skills, endless patience, and an incredible wealth of knowledge. They are both so personable, kind, and funny, which made working with them pure joy. Simply put, we would not be sitting in our dream home right now without them! I can’t recommend them highly enough – trust me when I say that you will be in the absolute best hands with Sabrina and Susan!”

– Sarah

THANK YOU Sarah and Ryan – Your kind words mean the world to us.  It was such a joy to meet all of you and be part of your journey home.

THEIR DREAM HOUSE

We Love What We Do – How Can The Caton Team Help You?

Need Real Estate help? Contact The Caton Team for a consultation.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL  |  WEB  |   BLOG

Get to Know Us at The Caton Team Testimonials.

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL  |  WEB  |   BLOG

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

When the Data Lags – The Current Real Estate Situation – Low Appraisals!

Hello Caton Team Readers – I took pen to paper today to share what we’re experiencing in 2021

If the Bay Area Real Estate Market wasn’t exciting enough, now we have a new problem – the data on current home sales is lagging, so much so, that appraisals are coming in low. 

The 2021 San Francisco Bay Area Real Estate market is a far cry from 2020. The demand for housing in the Bay Area is at an all time high – higher than ever.  It’s typical for agents with single family home listings to receive over 100 calls just from Realtors within days of coming on the market.  Some home are selling quickly while others are setting firm offer dates to mitigate the chaos. It’s definitely no time to panic if you’re selling Real Estate in the Bay Area – demand is there.  It’s also no time to panic if you’re buying in the Bay Area – as long as you’re focused on a realistic goal and pivot when needed. 

With many homes selling in under 7 days and low interest rates spurring a bonanza of refinances, banks are overwhelmed. The pool of local appraisers are backlogged, thus bringing in ‘out of area’ appraisers who are not familiar with the micro-climate of SF Bay Area Real Estate.  This pent up demand for appraisers has turned the customary 10 day turn around into a two week wait for the initial appointment and another week for the actual appraisal report. Closing escrow in 30 days has turned into a three ring circus, any sooner – well – I wouldn’t count on it. 

But that’s not the half of it! Even if your appraiser is local – we’re seeing dated comparables used, sales data from 2020 even 2019 not adjusted for appreciation or current demand. Though never an exact science; this gap in current value and sold data is effecting everyone – buyers and seller combined. 

The Industry Standard is to select comparable properties that sold 1 to 3 months back but no more than 6 months, then the appraiser must adjust accordingly for variance in condition, location, market, demand etc. But some are NOT doing what they should be doing and it shows.

Real Estate is a living, breathing entity.  It is constantly changing due to various factors – the economy, interest rates, stock market, consumer confidence, buyer demand, supply etc – So using sales data from 3rd Quarter 2020 – truly doesn’t reflect current demand as we begin Q2 of 2021. Because demand has increased significantly since then – and our buyers feel it. 

With pending sales taking 30-40 days to close, that valuable sales data doesn’t become official until after the closing and it’s mucking up the works on appraisals. In a multiple offer situation it may be difficult for a buyer to determine how much is too much to pay and the question remainds – will it appraise? Regardless, the home may be still worth the offer price and often paying the difference today helps a buyer get into a home as this market continues to see home prices increase and demand outpace supply. What you pay today may save you from paying more in the future. Please note, each client and situation is unique and this blog post does not apply to each situation.

If you’re a buyer in this market – and we know – The Caton Team loves to represent  buyers – it feels like homes are appreciating week over week – rather than month over month. With multiple offers – you’ve got to be aggressive, write your best offer, often non-contingent and hope for the best.  This pace is horrible and buyers (not to mention their agents) are exhausted and rightfully so. This market truly needs some tempering. Clients need time to review disclosures to make sound decisions with the greatest purchase of their lives.

When The Caton Team represents sellers, we encourage our clients to allow the home to be marketed for at minimum 1 week before reviewing offers. I even remember the days we used to say 2 weeks!  But with so great a demand for housing, even one week is hard – with many Pre-Emptive offers scooping up homes.

All of this does sound like madness, but have no fear – The Caton Team has been through it – with over 40 years of combined local experience – The Caton Team is here to help!

Heres some tips on how to navigate a low appraisal:

FOR OUR BUYERS…

PLAN FOR IT:  When The Caton Team sits down with our buyers to prepare an offer – we provide the data we use to guide our clients so we can discuss an offer price and terms strategy.  Sometimes we’ll find ourselves in uncharted waters – where current demand is not reflected in the data.  I.E. Pending Sales are higher than Closed Sales. If an appraiser uses the older data and that data doesn’t reflect current demand – here lies the gap between contract price and appraised value price.

So what do you do as a buyer?

Plan for the appraisal gap.  When you’re writing that non-contingent offer make sure you’re not maxing out your bank accounts. (If you are maxing out the accounts – it’s time for a pivot but that’s another conversation.) When writing that strong offer – make sure you have ‘competition reserves’ IE money to fill that apprisal gap. Because if your offer is accepted and it doesn’t appraise – the home is most likely still worth it and worth the buyer filling the gap. Why you ask?  The stats. If you’re in an inclining market – as the pending sales close and become sold data – the next home may not have an appraisal issue – and most likely the next home will be priced higher than that offer you’re worried about today. However, even situation is unique and requires care and diligence.

ASK FOR A REVIEW: When the appraisal arrives – send it to The Caton Team. We will pull up each address of the homes used in the appraisal report (usually 3) and evaluate if it is a fair comparable. If not – we will submit the challenge with you through the review process with the lender however; just know, the appraisal is often not adjusted. So it’s back to Plan A – Plan For It. When the housing market is in high demand and inclining, it usually pans out for the buyer in the long term to pay the gap today. History will show you – the value of California Real Estate, even with its dips and drops over the years – has been appreciating since 1849. However, this blog post is for general information – each client situation is unique and requires its own course of action.

GET UNDERWRITTEN FOR YOUR HOME LOAN: A buyer is only as solid as their home loan. It’s best to get fully underwritten with your lender. It’s imperative to know your budget inside and out. To understand the monthly outlay, the closing costs, reserves, and a cushion for competition and appraisals gaps. If you’re comfortable with the numbers it’s time to get serious about buying. If the numbers don’t sit right – it’s time to adjust strategy and long term goals. Be open to each adjustment.

FOR OUR SELLERS…

Even with a non-contingent offer – sellers still need to be aware of the market and appraisal issues. Even if your buyer has great reserves, they’re only human and there is a finite amount of money in the bank – no matter how wealthy. 

REVIEW BUYERS PROOF OF FUNDS: When The Caton Team reviews offers with our sellers, we take the time to look into the reserves and speak to the lender to discuss these possible pitfalls and ask – point blank – how the buyer will respond to possible situations. Will the buyer agree to pay the appraisal difference? Will the buyer ask for a price adjustment to the appraised value? The Caton Team believes open and honest communication is the cornerstone of good business – so we ask these questions to our fellow agents and open the dialogue towards solutions.

BEST OFFER VS HIGHEST OFFER: When reviewing offers the highest offer doesn’t always mean it is the best offer. There is a limit to what a market can hold. So be considerate when accepting an offer and review the various terms and proof of funds. If one offer is so high there is no chance it will appraise – unless it is a cash offer – that may not be the best offer.

CONSIDER ADJUSTING THE PRICE: Sometimes, even with a non-contingent offer it would behoove a seller to adjust the offer price down to the appraised vaule. Why??? Appraisal issues do not magically disappear. If the difference is data driven, the data is pubic and doesn’t change until new sales close escrow. So two appraisals done the same week could result in the same situation. Of course this is multifaceted as well and some sellers may not need to adjust if they have new or back up offers.

BACK UP OFFERS: Sometimes, it doesn’t hurt a seller to place an offer in back up position. There are various reason why this is a good idea and why this is not necessary. It all comes down to demand. How many offers did the home receive? How many of those offers would the seller consider? Now we’re getting into the nitty gritty of Real Estate – so I’ll save that for a private consultation.

Real Estate is a meeting of the minds, not a twisting of the arm. The Caton Team believes in being kind and mindful to our clients and our fellow Realtors – together – we make Real Estate dreams come true.

This year The Caton Team has faced it all.

If you’re thinking of selling or buying Real Estate in the San Francisco Peninsula – contact The Caton Team for a private consultation. We love what we do and would love to be of service to you and your friends.

Get exclusive inside access when you follow us on Facebook & Instagram

HOW TO SELL during COVID-19HOW TO SELLHOW TO BUY during COVID-19- HOW TO BUY MOVING MID PANDEMICTRUST AGREEMENTS and HEALTH CARE DIRECTIVESOUR TESTIMONIALS

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL |  WEB|   BLOG

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan 

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

Keylo Locksmith in San Mateo

Hello! Thank you for reading The Real Estate Beat, where my passion for Real Estate and community meet.  Today I would to feature a local business that The Caton Team cannot live without.

Keylo Locksmith – in San Mateo

I have to shout out to Keylo – originally from San Carlos now located in San Mateo. I am 99% sure Kyle’s great grandfather saved my life when I locked my mom out of the house at the age of 3. But truly – Keylo is THE locksmith on the Peninsula. They have recently moved locations and are now in San Mateo, just past Hillsdale Mall. Klye is running the show these day, he’s not always in office because he goes out in the field to change locks etc. I’ve never had trouble with a key made at Keylo – and being a Realtor – a functioning door key is super important. Kyle is kind, thoughtful and always happy to be of service. I just call ahead to see when he is in. He’s a local business that I am proud to support.  Kyle – thanks to you and your family – we have trusted locksmiths The Caton Team can rely on.  

THEIR WEBSITE | MY YELP REVIEW | THEIR YELP PAGE | MY YELP BOOKMARKS | MY YELP PAGE

Photos of my Reviews on Instagram: The Caton Team Instagram

HOMES FOR SALE near Keylo Lockmith in San Mateo

Follow The Caton Team Blog – The Real Estate Beat, visit our Website – The Caton Team to start your own home search.  Read our Testimonials to get to know us or simply reach out – Call | Text Sabrina 650.799.4333 | Email  Info@TheCatonTeam.com.

The Caton Team does not receive any compensation for any posts, we use YELP for ease of use.  All restaurant reviews are unsolicited and unpaid. Photos of dishes and edites are my own. Information deemed reliable but not guaranteed. Third party information not verified.

Get exclusive inside access when you follow us on Facebook & Instagram

HOW TO SELL during COVID-19HOW TO SELLHOW TO BUY during COVID-19- HOW TO BUY MOVING MID PANDEMICTRUST AGREEMENTS and HEALTH CARE DIRECTIVESOUR TESTIMONIALS

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.  How can The Caton Team help you?

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL |  WEB|   BLOG

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.