Tag: sell a condo

SPECIAL POST – Making an Offer: 5 Mistakes to Avoid

Making an Offer: 5 Mistakes to Avoid

I had to post this article the moment I read it. So timely – and allow me to add my Silicon Valley Realtor 2 cents in italics.  

In competitive housing markets across the country, making an offer that sticks has become increasingly difficult. Ensure your client doesn’t make the process even tougher by succumbing to one of these common mistakes.

The Caton Team works with Sellers and Buyers up and down the San Francisco Peninsula.  So we know – as a Seller’s Realtor  – what we want to see in an offer and supporting documents which only aids us when we represent Buyers.  

Delaying

“Time kills deals,” says Andrew Sandholm of BOND New York Properties in New York. “Dragging your feet means you could wind up paying more in a bidding war situation or missing out on the property altogether.” Buyers need to be ready with their paperwork, such as bank statements, a pre-approval letter, and documents supporting proof of funds, from the day they begin house-hunting mode. That way they can pounce quickly with an offer when they do find a home they like.

My goodness, this is the truth.  In fact, in order to ensure my Buyers a smoother experience, I no longer show homes until the Buyer has been pre-approved.  A Buyer MUST KNOW their own budget, how much they can afford, how much their lives cost BEFORE they start house hunting.  Once we find a home, we must focus on THAT HOME and the disclosures package.  When we sit down to write an offer, that is NOT the time to discuss budget.  That’s the time to discuss the home, condition, inspections, disclosures and how much it is worth to you.  To be frank – to be a successful Buyer in the Silicon Valley – a Buyer should have Under Writer Approval.  That is what it takes to be a strong and successful  Buyer in the Silicon Valley Real Estate Market.  Curious what that means – give The Caton Team a call.

Making an offer for their preapproved amount

Smart buyers are getting preapproved to show a seller they’re financially able to purchase a home. However, Chuck Silverston, principal at Unlimited Sotheby’s International Realty in Brookline, Mass., warns buyers against using that document to come up with an offer amount.

“Many buyers come in with a preapproval for the exact offer price, but when you’re competing against other offers, including cash offers, you want to show financial strength,” Silverston says. “An exact preapproval could make a listing agent nervous because not only does the buyer not have any wiggle room to negotiate, but they might no longer qualify if interest rates rise.”

There was a time in our Real Estate Market that we would customize each lender approval letter with the offer price.  It was a a way of not showing all your cards at once.  For instance, you are approved for $3 million but your letter and offer says $2 million.  Well when the Sellers Realtor lines up the offers and tries to determine financial strength – having no wiggle room in your lender letter will diminish your financial strength.  And sadly, though my lender calls on behalf of my Buyers to each offer we write – many lenders do not call.  I know this as my phone is radio silent on offer day – too bad more lenders don’t step up to the plate and offer wonderful customer service.  But that is a whole other blog!

Submitting a lowball offer

Lowballing a seller often backfires, particularly in a seller’s market. “A lowball offer that isn’t backed up with math or comparable sales data is disrespectful and could turn off the seller and possibly mean you will miss out on the property completely,” Sandholm says.

From time to time, as a Seller’s Realtor – we’ll get these mysterious faxed in offers.  (I joke, they are not faxed anymore) but you get my gist.  They are awful offers, terribly written, and low.  Too low.  Insultingly low.  As a Seller – don’t get offended.  As a professional Realtor – The Caton Team knows how to handle these delicate situations.

Waiving inspection contingencies

“I don’t care whether it’s new construction or even your mom’s house you’re buying from her – get it inspected,” urges Joshua Jarvis of Jarvis Team Realty in Duluth, Ga. Further, if you waive the inspection contingency in your offer, you may lose the earnest money if you later back out of the deal.

Well, if you are a Buyer in the Silicon Valley – and you’ve written more than one offer – you have learned the hard way that contingencies are deal killers in a sellers market.  If a Buyer is in a multiple offer situation – any contingency can and probably will throw you to the bottom of the stack.  HOWEVER, The Caton Team understands what a Seller wants in their offer and we understand what the Buyer needs.  The Caton Team has a great Buyer Strategy when these critical terms are at stake.  Come sit down with us and we’ll discuss our distinctive Buying in Silicon Valley strategy.  

Not presenting yourself well enough

In a seller’s market, buyers need to take steps to make sure they look good in the eyes of the seller. “In today’s highly competitive environment, the listing agent is trying to determine which buyer will be the easiest to deal with,” Silverston says. Buyers may want to avoid pointing out every defect, making nitpicky queries, or questioning the seller’s tastes.

“Basically buyers who act less than enthusiastic will see themselves at a competitive disadvantage when sellers are comparing multiple offers,” he says.

“The easiest to deal with”… Did you catch that phrase?  When the Caton Team works with Sellers and reviews offers – we are looking for the best offer, with the best terms that WILL CLOSE ESCROW!.  Taking a great – high offer – no contingencies blah blah blah – won’t matter a hill of beans if it does not close escrow.  

What sets The Caton Team apart from other Realtors is our level of hustle.  I don’t know another word for what I do when I represent a Buyer.  I hustle.  Ask my clients.  Read my YELP reviews.  I work hard.  Finding a home is no longer my principle job as a Realtor.  I know that sounds funny but with the internet and all the listings available online 24/7 – finding the home has become the Buyers Journey.  But GETTING THE HOME – is what I do best.  The Caton Team has exceptional  negotiating skills.  It starts with the first call to our fellow Realtor when we find the home, through the disclosure review, through the offer writing, through the offer presenting.  Yes, The Caton Team still presents their offers.  When possible we take the time to present the offer to the Sellers Agent, we ask questions before, during and after.  If you have ever worked with us – you will know and see the difference in our level of service.  Any agent can find a home, but The Caton Team will guide you on how to get the home YOU WANT! 

What does that mean?  Well you know – come sit down with The Caton Team and we’ll chat about it.  

How can The Caton Team help you?

Thank you for read,

Sabrina

I read this article at: http://realtormag.realtor.org/daily-news/2017/05/10/making-offer-5-mistakes-avoid?om_rid=AACmlZ&om_mid=_BZE0AQB9bqaWV2&om_ntype=RMODaily

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at:  Info@TheCatonTeam.com

Call us at: 650-568-5522  Office: 650-365-9200

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page:  http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me:  http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn:  https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

9 Genius Hiding Places for All Your Valuables

9 Genius Hiding Places for All Your Valuables

By Holly Amaya

 

Just in case you haven’t had your fill of troubling news lately, try this: Today’s thieves are smarter—and more brazen—than ever. More than half of them strike during daylight hours, and an astonishing 34% go in right through your front door!

(Happened on our street at High Noon and NO ONE NOTICED!)

So whether you’re on vacation or just away at work, the chances are depressingly high that your not-so-friendly neighborhood thieves are watching. If you keep valuables in the house and not in a safe deposit box, you’ll need to think about how to take your home security system to the next level. And while no security system is foolproof, a little clever thinking and a few stealthy hiding places can go a long way in safeguarding your stuff.

Take a look at these nine brilliant hacks for hiding your precious belongings from the bad guys.

  1. Inside boxes in the garage

Home security experts tend to agree: When it comes to stashing the good stuff, you can’t get much better than the garage, which thieves are far less likely to explore. Try tucking valuables inside boxes innocently marked with labels such as “Winter Clothes” or “Christmas Ornaments,” the International Association of Certified Home Inspectors recommends. The more boxes you have, the longer an intruder will have to search—and the more likely he is to be caught.

Garages also offer a plethora of in-plain-sight spots to hide your goodies: Consider placing small items at the bottom of tool boxes (just use box inserts to separate them from your tools). Or nab one of these diversion safe cans to hide cash. If your house is anything like mine, you likely have a bunch of half-used cans of paint hanging around shelves. Put those cans to work for you by cleaning them thoroughly and hiding your valuables inside.

  1. Your kitchen

There are lots of diversion safes that look like common kitchen or household items, making them far more likely to be passed over during a burglary. Cash in the salt shaker! Antique diamond rings in your canned goods! The possibilities are truly endless.

If you’d prefer not to spend money on fake food items, create a hiding spot out of used condiment bottles. Clean them thoroughly, and then spray-paint the inside before tucking in your valuables. And don’t forget the freezer: Consider stashing important documents or cash there in a plastic container covered with foil.

  1. Fake pipes, vents, wall outlet plates, etc.

By now you might be thinking, “Isn’t this what safes are for?” But it turns out, a safe’s not always so safe—bad guys can easily snag it in a quick smash-and-grab burglary (unless you cleverly hide it and/or securely bolt it to a wall).

Home experts will tell you that storing your valuables in fake versions of home fixtures provides great alternative ways to foil robbers. Think: PVC pipes, air vents, closet lights, thermostats, and behind wall outlets (à la our favorite antihero Walter White). You’ll want to use fake versions in case, heaven forbid, there’s a fire, or you forget your entire emergency fund is in the vent that your HVAC guy just crawled into.

Sure, it takes a little elbow grease (and, depending on the extent of the project and your temperament, a load of patience), but if you’re at all creatively inclined, these projects can pay off in spades for a fraction of the cost of professional security solutions.

  1. A bookcase box

Feeling crafty? Create a secret bookcase box to store larger valuables. Gather your supplies: cardboard box, painter’s tape, table saw, white glue, E-6000 glue, box cutter, sandpaper, and measuring tape.

Remove the top flaps from the box and gather as many hardcover books as possible. Wrap the books with painter’s tape and then cut off their spines using the table saw.  Apply white glue to the surfaces you just cut, remove the painter’s tape from the spines, and glue the spines one by one to the front of the box. (Use sandpaper if the box is glossy; this will ensure the glue sticks better.) Once everything dries, you’re set.

If you’d rather make your box out of something sturdier, this video offers a great primer.

  1. An old vacuum

Scour yard scales for an old canister-style vacuum cleaner. You can remove the bag and easily stash things such as birth certificates and other sensitive documents inside. (Just be sure to either clean the bag or place your docs in a plastic bag first. And, um, don’t forget they’re in there.)

  1. Inside your child’s room

Thieves typically spend the 8 to 12 minutes they’re inside your home searching the master bedroom for jewelry and cash, or the home office for laptops and other electronics, according to home security expert Robert Siciliano.

They’re way less likely to enter a child’s room, so hiding valuables in the mess of a kid’s space (whether in plain sight amid the chaos, barely concealed in a bookcase, or in a bolted-down safe or other container) is statistically safer than stashing those same goods elsewhere.

  1.  Behind some cleverly placed art

We love this one: Replace the mirror from a medicine cabinet with some wall art. Then, hang it wherever you’d like (preferably in an unexpected spot such as a hallway, dining room, or kitchen).

8. Inside your dresser

This one will make you feel a little like James Bond: You can create a secret compartment at the bottom of your dresser drawers. All you need is a thin piece of plywood, measuring tape, sandpaper, and box cutter or saw. The goal is to create a space for your valuables below a “false bottom” in the drawer. Easy!

  1. Inside your doors

The experts at The Family Handyman offer this genius tip: Drill a hole at the top of any interior door (taking care to stay close to the outside edges if working with a hollow-core door), and use the tiny space to stash spare cash.

And now that this has been blogged – find a totally different place to stash your goods!

 

I read this article at: http://www.realtor.com/advice/home-improvement/genius-hiding-places-for-valuables/?identityID=9851214&MID=2017_0224_WeeklyNL&RID=353497822

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

For Sale – Junior 1 Bedroom in San Mateo – Asking Price $420,000

Turn the key and you’re home. Set your bags down; grab a water at the breakfast bar. Enjoy some dinner in your own private bistro, drink in the fresh air from your balcony, kick your feet up and relax. Got some work to finish up? Your built in office awaits. Ready to call it a day? Draw the planation shutters, simmer in a bath and retire to your bedroom alcove. This is living in the heart of Silicon Valley. It doesn’t get much better than this. Welcome home to 710 Mariners Island Blvd where #103 awaits for you.
The Caton Team is proud to announce our lovely Junior 1 Bedroom / Studio condo is now For Sale. Own a piece of the Silicon Valley! Live in San Mateo just blocks away from Bridgepoint Shopping Center and Bay Trails! Easy access to the 101 and 92. Close to the 3rd Avenue or East Hillsdale Ave Exit.

 

Contact The Caton Team for a private showing at 650.799.4333 (call or text) / Email: info@TheCatonTeam

 

  • Bedroom Alcove with pony-wall for additional privacy.
  • Professionally Designed, Built-in Floor-to-Ceiling Shelving Unit and Desk in Office Nook.
  • Gorgeous Blue Tile in Galley Kitchen with Breakfast Bar overlooking Dining Area.
  • Glass Front Kitchen Cabinet.
  • Full Size Oven Range and Newer Microwave Hook Vent.
  • Full size Tub with Shower.
  • Plantation Shutters overlooking Balcony.
  • Closet Organizers. Engineered/Laminate/Wood Floors.
  • Crown Molding. Tastefully Updated.
  • Freshly Painted.
  • Close to Bridgepointe Shopping Center, Restaurants & Shopping.
  • Close to Walking Trails, Lagoon and Parks.
  • Near 101 and 92 Freeways.
  • Square Footage noted as 484sqft and 519sqft. Buyer to Verify.
  • 1 Deeded Parking Spot in Secure Garage.
  • Secure Building.
  • Complex offers Pools, Spa, Playground, Clubhouse, Sport Court, Boat Storage & Gym
    with fee.
  • Information deemed reliable but not guaranteed.
  • Asking Price $420,000 – HOA dues $450

 

For photos visit: http://thecatonteam.com/IDX/Mariners-Island-Blvd-San-Mateo-CA-94404/2509843922/0004010

 

Address:

710 Mariners Island Blvd 103

San Mateo Ca 94404

 

Contact The Caton Team Anytime
By Email:  Info@TheCatonTeam.com


By Cell/Text: 650.799.4333

The Caton Team

Susan & Sabrina – A Family of Realtors

 

Berkshire Hathaway HomeServices – Drysdale Properties – Redwood City

3201 Jefferson Ave – Redwood City Ca 94062 – 650.365.9200

BRE #01499008, #70000218, 01238225, 01413526

By the way – The Caton Team is never too busy for you or your referrals!

 

THE ADVANTAGES AND DRAWBACKS OF AN OPEN HOUSE

With MAY 1st being the official best day to list your home for sale – I thought I would share this great article…. 

THE ADVANTAGES AND DRAWBACKS OF AN OPEN HOUSE

Ahhh the open house.  Some clients love them some hate them.  I thought I would share this article and add my two cents in italics.  

Open houses are a long-standing tradition in the sale of residential real estate to expose more people to a home for sale. Open houses are normally held on weekends to capture more traffic because that is when most people are off from work. The real estate agents put out signs on boulevards or near street corners to draw drive-by traffic and usually list the homes in the real estate sections of newspapers to bring in more people.

Ultimately, you’re goal is to bring in a buyer. But is throwing open the doors to your home really going to clinch a sale? Let’s investigate the pros and cons of an open house.

Advantages

Buyers can examine the home freely
Because open houses last a few hours, potential buyers can investigate parts of the home and take photos without pressure to leave right away. This real-time research is something buyers cannot gain just by viewing pictures online. By physically walking through a space, it is possible to get a true sense of what the home feels like. A serious home buyer is going to want to see the house in person.

I suppose if you’re trying to buy and not working with a Realtor – an Open House would be important.  However, I prefer to show homes outside of the weekend.  It may inconvenience the seller – but my buyers get more time IN the home alone so we can chat about the pros and cons.  

Create buzz and possibly a bidding war
Open house viewings can increase competition among would-be buyers – which is excellent news for you as a seller. Certain buyers, eager to secure their dream home, will not want to be outbid by rival buyers – so they may look to act quickly, to push through a fast house sale. If buyers are chomping at the bit to make offers, this puts you in a strong negotiating position.

On the San Francisco Peninsula – you don’t need an Open House to create a bidding war.

Convenience is key
Hosting an open house can be a great way to limit the number of individual showings your house may get while on the market. Rather than arranging for four or five private showings, you can prep your home once to receive multiple visitors. A scheduled open house allows you to make arrangements ahead of time to be out of your home with children and/or pets.

I do think an open house is easier for sellers since it is a set time that they can prepare for.  However, just because a client sees the home during the Open House does’t mean they won’t want to come back for a second look with their Realtor.  So one way or the other, the seller will want to make their home available – even more so by private appointment.  The last buyer I worked with – I couldn’t get into the unit myself!  And it was very frustrating to have a seller so private.  I understand the intrusion – but sellers do need to make the home available for clients and agents to see so we can do our job properly!

Clean home, happy home
If you’re still living in the home, you have to go the extra mile to prepare your house to be shown, constantly focused on keeping things neat. Decluttering your home prior to an open house makes it easier for a buyer to visualize their personal items within the rooms and motivates you to keep your home tidy.

I tell my sellers – start packing.  Less is more.  Declutter – make it shine.  It’s more than just a sign out front that sells a home.  I’m happy to discus the Caton Team’s selling strategies privately – contact us for an appointment.  

Feedback: the good, bad and ugly
Open houses are a great way to get feedback from multiple sources about the positives and negatives of your home. And while some comments can sting, it’s good to know what potential problems your home has so you can fix the issues in a timely fashion. As in any situation, some comments will be valid (the sink is leaking in the guest bath) while other feedback will seem random and unhelpful (the bathroom is too yellow). Take the good and the bad with a grain of salt, you cannot please everyone.

This is so true – but don’t take ANYTHING personally!

Drawbacks

Little Chance of a Sale
Statistics prove that it’s rare to garner a sale or a bid from an open house. The percentage of homes that actually sell as a result of an open house is less than 3%. An open house may actually benefit a realtor more because it gives them professional exposure as well as an opportunity to sell other homes they are representing. An open house is about mingling and researching, not necessarily for closing a sale.

I am going to tell this to you straight.  When agents host open houses – yay sure it’s great IF we meet a buyer for THAT house.  But truly – when I spend my weekends holding open houses – I’m looking for buyers and sellers who need my services – and what better way to meet people in need for a Realtor than sitting at an open house!  So now you know.  As a seller – I’d bend over backwards for the private showing appointments – THOSE are your serious buyers because they are already working with a professional Realtor, have realistic expectations, are pre-approved to buy a home in YOUR price range.  Those are the important appointments.  Truthfully a seller is better off leaving the home for private showings than just open houses.  

People with No Intention of Buying
Some of the people who show up to an open house may have bad intentions. Nosy people and thieves disguised as buyers often come with no intention of bidding or buying the house. Some people may innocently browse with no purpose, but thieves are there to scope the place out for valuables. Consider the security issue before scheduling an open house; and take inventory of any items within the home that could be easily removed in a flurry of visitors.

This is where packing up is most important.  We do not want your jewelry box out in the bedroom during the open house.  Though I aways have a co-host, criminals are going to get away with their crimes no matter how many hosts there are.  So just pack everything that means sometimes to you – after all you are selling and going to move.  

Don’t give your home a bad reputation
If a house does not sell after the first, two or three open houses, it means buyers are probably not interested for various reasons. Continued open houses can give the impression that there is something wrong with your home. Be careful of realtors who only focus on open houses as their key selling tool. A better realtor will use various resources to sell the home for maximum results.

 If your home does’t sell in the first two weeks – then you have some major back pedaling to do.  Instead of discussing this here – I invite any seller that is frustrated to a free, no obligation consultation where The Caton Team review the pros and cons and develop a strategy to achieve your financial goal of selling your home.  

Virtual tours
Today’s technology allows you to get great results using online photos or a video tour of your home. Prospective buyers don’t have to change out of their pajamas on a Saturday morning to take a virtual look-see of any home on the market. Plus, you don’t have to invite strangers into your home.

Call my old fashioned – it’s ok – I’m getting used to it – haha.  Virtual tours are wonderful internet tools BUT NOT SUBSTITUTE for actually walking through the home, looking at the neighbors house from a real street view, not a online map street view.  They can be fun to watch – but again – real, serious buyers are going to need to walk through your home for real. So make it available to them.  

Ultimately, it is the seller’s decision to schedule an open house. They are not required. Consider the pros and cons carefully before opening your doors to potential buyers, lookie loos and the like.

And let’s chat.  Perhaps one weekend is good, perhaps an evening is good.  Working with a professional Realtor will help guide you ever step of the way.  Looking for a pro?  Give The Caton Team an opportunity to sit down and talk to you.  Face to face, no virtual  goggles needed.  We’ll be happy to help you!

I read this article at: http://teresacowart.com/advantages-drawbacks-open-house/

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at:  Info@TheCatonTeam.com

Call us at: 650-568-5522  Office: 650-365-9200

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page:  http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me:  http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn:  https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

Appliance Shopping? READ THIS FIRST!

12 Money-Saving Secrets Appliance Stores Don’t Want You to Know

By Lisa Gordon

 

Let’s face it: Shopping for appliances is rarely as fun as, say, a weekend in Vegas. Has anyone ever experienced any kind of high-roller exhilaration from splurging on a washing machine?

Of course not! That’s because home appliance shopping usually happens when one of your workhorses is on its last legs or, heaven forbid, completely busted. And, if you’re not careful, a savvy salesperson will spot that sweat of desperation. Suddenly, you’re leaving the store not just with a new appliance but also a sad, empty wallet.

But it doesn’t have to be that way. Whether you’re buying an appliance in a store or online, we know a few tricks of the trade to keep money in your pocket.

  1. Look beyond advertised prices

Have you noticed that when you shop for appliances online or look at store circulars, all the prices are pretty much the same? That’s because big manufacturers dictate the minimum prices stores can advertise. But that doesn’t mean the actual cost is the same across the board.

“They can sell it for less, but they can’t advertise it for less,” says Kevin Brasler, executive editor of consumer watchdog Checkbook. That means if you just do something—such as click a button online or approach a sales associate in a store—you can often buy the product for less cash. Sometimes a lot less.

  1. Time your purchase right

The right time to buy appliances can vary depending on whether you’re buying online or in store. But there’s one common denominator: The best time to shop is when retailers need your money more than you need that appliance. Let’s break it down:

If you’re shopping in a brick-and-mortar store, these are the best times to buy:

  • September, October, and January, when manufacturers roll out new appliance models and retailers are desperate to get rid of last year’s fare
  • The end of each month, when stores are trying to meet monthly quotas
  • Holiday weekends (No, retailers aren’t tricking you with bargain prices—they promote heavily and stock for greater sales during those periods. But different holidays are better for different deals.)
  • Off-season (For instance, force yourself to think about buying an outdoor grill in January or an electric fireplace in July.)

If you’re shopping online, these are the best times to buy:

  • November
  • Thursdays (the day retailers are twice as likely to reduce prices)
  • The fourth or fifth day of the month, when buyers are flush with paycheck money
  • 3 p.m. (Yes, 3 p.m.)
  1. Use a shopping cart—and then walk away

We’re talking about the online kind. If you’ve had your eye on an appliance but wish it were just a smidgen cheaper, try putting it in your cart. Then walk away (so to speak). If you leave it there for a few days, a retailer might send you a coupon to entice you to close the deal.

  1. Decode the price tag

According to the folks at Lifehacker, some price tags have a secret code that can help you determine how much a store is discounting an item—and whether there’s room for a bigger cut.

They put together a handy chart that reveals what certain numbers and symbols mean at several major retailers, including Home Depot, Costco, and Target. If this looks like information overload, remember this: If a price ends in any number other than 9 or 99, you’ll know you’re getting less than full retail price.

  1. Embrace your inner snoop

You can’t always get to a store during a big sale. But if you peek into the metal price stand next to an item, you might be able to preview the cards behind the one displaying the current price—cards that might reveal the date and price of the next sale.

  1. Ask repair people for bargains

When a repairman arrives to fix a busted appliance, ask if he knows of warehouses selling almost-new appliances for deep discounts. This is what we call insider info! When my oven broke, my repairman pointed me to a family warehouse filled with slightly dented appliances. I got half off a returned wall oven with a tiny dent on the side that nobody will ever see.

  1. Combine discounts

Think of how much you can save if you shop for appliances during a Black Friday sale, pay with a gift card you bought online for a discount, and add a 20% coupon to the mix. The dollars simply melt away.

  1. Don’t be afraid to haggle

Never be afraid to ask salespeople, cashiers, and store managers if they can do a little better on the price. In fact, Consumer Reports says that nearly all people who haggle over appliances are successful at least once—and save an average $200.

Brasler advises consumers to call stores in advance and say, “I’m shopping around for this appliance and will buy from the place that gives me the lowest price. What’s the best price, including delivery and install, you can give me?”

“Independent stores, rather than chains, are really set up for this,” he adds.

  1. Re-evaluate the extended warranty

Extended warranties can be a good idea. But if you’re not careful, they can also drain your bank account unnecessarily. Consumer experts say extended warranties often cost more than they’re worth—in other words, you’ll spend less on a potential repair than you will shelling out for the warranty in the first place. We won’t tell you to skip it, but you should do the math and proceed with caution.

  1. Sell your old one for scrap

Even an old, broken appliance is usually worth something. You can try selling a busted unit for parts on Craigslist or eBay, or at a local scrap yard that purchases metal based on weight. You can often earn $10 to $50 per 100 pounds, depending on the type of metal and the scrap yard. That means a 150-pound dryer could net you $15 to $75 dollars. Apply that to a new $300 dryer, and you’ve suddenly got a discount. Score!

  1. Consider white

If you’re not picky about colors and finishes, you can often buy white appliances for hundreds less than stainless steel, black, or the color of the moment.

  1. Send in your rebate

We know it’s a pain to keep track of your receipt and send it to a manufacturer or store. But isn’t it worth five minutes of your time to get a bargain? Keep receipts in one place, and put together your rebates while you’re bingeing on Netflix.

 

I read this article at: http://www.realtor.com/advice/home-improvement/appliance-stores-money-saving-secrets/?identityID=9851214&MID=2017_0224_WeeklyNL&RID=353497822&cid=eml-2017-0224-WeeklyNL-blog_6_movingsavingsecretsappliancestores-blogs_trends

 

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

Rent vs. Buy

HAPPY TAX DAY!  To all you homeowners – congratulations on the mortgage interest write off.  To all you renters – take a read…

 

The Misleading Math Behind the Rent vs. Buy Calculation

By Jonathan Smoke |

 

There’s about $13.1 trillion stashed away in the United States, in plain sight. Where? In our homes!

Do we have your attention yet?

That’s the total value of the equity held by over 75 million U.S. homeowners, according to the latest estimates from the Federal Reserve Board. And that works out to almost $175,000 per owning household.

This is unmistakable evidence that homeownership is a critical building block of household wealth. Owning a home is a key reason why the median net worth of a homeowner is almost $200,000 while the median net worth of a renting household is just over $5,000.

Sure, part of that is because owners were able to pony up a chunk of money to put down on a house, and to qualify for a mortgage. But the act of paying for a mortgage actually helps produce more wealth, by freezing payment amounts and building equity through forced savings.

A 30-year amortized, fixed-rate mortgage is a beautiful thing. It provides an affordable path to buying a home while locking in today’s cost of that home for the life of the loan.

The traditional rent versus buy argument compares the total monthly costs of buying a home with a mortgage with the corresponding rent. So that comparison is relevant when it comes to representing the housing choice trade-off in clear cost terms.

Two years ago, that head-to-head heavily favored buying, thanks to very low mortgage rates and lower prices. Back then, more than three-quarters of the counties in the country saw lower buying costs than renting costs.

With prices and rates higher now, less than half of the counties in the country see math that favors buying.

But those raw numbers hide the fact that unlike a rent check, a percentage of every monthly mortgage payment—after the lender is paid interest—goes toward the owner’s home equity. That means it’s really a forced savings plan.

Over time, less of the mortgage payments go toward interest and more go toward equity, so the savings power is enhanced further.

Here’s how that works out for a median-price home of $250,000 bought in January with 20% down with a monthly payment of $976.

Before their first payment, the proud new homeowners had $50,000 in equity thanks to their down payment. (Actually, 20% down isn’t always typical or necessary, but, hey, it keeps this illustration simple.)

In the first year, an average of 29% of the monthly payments builds equity. After 12 payments, the homeowners have just over $3,400 in added equity.

By year 14, 50% of the monthly $976 payment goes toward equity. Don’t forget that the monthly payment hasn’t changed, because the interest rate was fixed.

At the end of the 14th year, just shy of $64,000 has been added to the initial $50,000 in equity.

In the final year of the 30-year mortgage, while the monthly payment remains $976, 98% of the monthly payments builds equity until that magic day when the home is owned free and clear.

Think you can beat that with rents? Researchers at Harvard put it this way:

“While studies simulating the financial returns to owning and renting find that renting is often more likely to be beneficial, in practice renters rarely accumulate any wealth. In no small part this seems traceable to the difficulties households face in trying to save absent either a clear goal or an automatic savings mechanism.”

So, you want a better rent versus buy illustration? First, find a place to rent for no more than $976—the same as our mortgage payment example above. If you can rent for less, great. Will you be able to save that difference amounting to at least $3,400 in the first year? That would imply you can really pay only about $700 in rent to get the same savings effect.

If you can’t save $3,400 yourself by paying less in rent, ask the landlord if he’ll take a portion of your rent payments and set it aside for your rainy day fund.

Then ask the landlord if he’ll set your rent payment at today’s rate for the next 30 years. And before you close the deal, ask him to raise the rainy day share each year by 1% to 2% until year 30, when he’ll get only 2% of the rent payment.

Clearly, this would not be easy to do.

Even if the house only keeps pace with inflation over 30 years, which is a very conservative assumption, the forced savings inherent in a mortgage guarantees a homeowner is building wealth. A renter household has to be extremely diligent to amass the same savings that the good ol’ 30-year mortgage does automatically.

 

I read this article at: http://www.realtor.com/news/trends/misleading-math-rent-vs-buy/?identityID=9851214&MID=2017_0224_WeeklyNL&RID=353497822&cid=eml-2017-0224-WeeklyNL-blog_1_misleadingmathrentvsbuy-blogs_trends

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

Email Phishing on the Rise: Is Your Mailbox Safe?

PLEASE NOTE:  This is most serious.  If you are in a real estate deal – or any deal – involving a wire transfer – call directly for wire transfer instructions – as emails have been hacked and money rerouted.!!!

Email Phishing on the Rise: Is Your Mailbox Safe?

By now, most everyone has heard of “phishing,” the act of defrauding an online account holder by posing as a legitimate company or person. Simply put, it’s when bad guys pretend to be someone or something they’re not to steal from you or your company.

They’ll use “spoofed” email addresses, websites and attachments to convince you to give them personal information, financial details, account passwords and even wire transfers. These criminals use advanced tactics and social engineering to learn about you and your company so they can present tailored information you wouldn’t think to double check.

“Spear phishing” is even more egregious, appearing to originate from within your company or your domain and targeting a specific person or company.

Examples can include what appear to be:

  • your IT guy asking you to login to a system or website,
  • your boss asking you to “open the attached document,” or
  • your CEO asking you to initiate a wire transfer to one of your vendors.

Because it’s so effective, phishing and spear phishing attacks continue to rise exponentially.

Part of the problem lies with us. Because we know what phishing is, we think we’re not susceptible — it only happens to other people, to dupes who aren’t paying attention.

But when we think it can’t happen to us, we let our guard down — and then we become most susceptible. Just ask the now-infamous Mattel executive who wired $3 million to a scammer.

“Email is such a common and trusted form of business communication that employees are extremely susceptible to spear phishing,” noted a recent report from Cloudmark, a Rackspace Email Partner and leader in the anti-spam industry. That report found fully 94 percent of companies surveyed acknowledged that their employees have fallen for a contrived phishing attack.

So — still think this can’t happen to you?

What can you do?

This is scary stuff, but you can fight back. If you (and your colleagues or employees) look for the signs of phishing and practice basic email hygiene, staying safe is actually pretty easy. The best way to combat phishing is just exercising common sense.

Here are a few tips to keep you on your toes.

Do not share personal information! EVER!

This really cannot be emphasized enough. Never respond to an email with personal information, financial information or passwords. Ever. Think about the risk-to-reward ratio. Is the upside of quickly sending this info worth the risk? Remember — NO reputable company will EVER ask for these details in an email.

Let me add my two cents here.  The other day a friend was reading me a meme – it was something silly like what is your Leprechaun Name?  As she read it to me – it occurred to me – those were password retrieval questions!  What street did you grow up on?  What was the name of your first pet?????  Out of context and without the silly meme before my eyes – hearing those questions made me realize it was a red flag!  SO DON’T SHARE PERSONAL INFO ONLINE!

Visit websites directly from browsers and bookmarks – not email.

Whenever possible, avoid clicking a link in an email to login to an account. It’s easy to misrepresent where that link may be taking you. A link might say “PayPal.com,” but it’s really pointing at “PeyPals.com.”

A quick way to double check a link’s actual destination is to hover your mouse over it. In most cases, your browser or email application will show you the true path.

If you’re logging in to your bank or other website, access the site directly instead of clicking a link in an email. Be especially suspicious of emails asking you to click a link to confirm your account information.

Double-check attachments before you click or download them.

Be careful with attachments. Word documents and Excel spreadsheets may contain macros or viruses that compromise your computer. These files can automatically download malware or direct you to malicious websites. If an email or attachment looks even the least bit suspicious (misspellings? See below), confirm its origin with the sender. Call, text or message them before you click.

Also, it is critical to have anti-virus software installed and up-to-date on your computer.

Whach for missspellngs and urginsee.

Although it’s not a hard and fast rule, poor grammar can often be a tell-tale sign of phishing. Look for unusual use of words, misspelling or even strange greetings (Hello Madam!). Also, be suspicious of an email that evokes a sense of urgency and asks you to do something right away.

When it comes to wire transfers, be extra vigilant.

The vast majority of people do not wire money as part of their day-to-day duties. So if you’re asked for a wire transfer, that should immediately raise a red flag. Double-check the request, OUTSIDE OF EMAIL, before you do anything. If you’re in the business of transferring money, never rely on email as a secure communication channel for these requests. Always confirm through alternative means.

When in doubt… DO NOTHING!

Being unsure and still clicking around suspicious emails can be disastrous. Take a little extra time to be vigilant and/or confirm emails origin and intent can save you, and your company, a ton of grief (and maybe even money). So if you have even an iota of doubt – DON’T DO ANYTHING. Delete the email, and pick up the phone.

Maybe more than ever before, the old adage holds true: when it comes to email and phishing it is truly better to be safe than sorry.

For more information about how to keep your inbox safe and your email secure, visit Rackspace email hosting solutions.

I read this article at: http://blog.rackspace.com/email-phishing-rise-mailbox-safe

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

The best month and day to put a home on the market – well my birthday of course!

The best month and day to put a home on the market, according to Zillow

A study points to a Saturday in May as a seller’s peak opportunity

Key Takeaways

Homes listed between May 1 through 15 tend to sell nine days faster and sell 1 percent above the asking price, a new Zillow study says.

You may want to hide during the ides of March, but the ides of May are the perfect time to put a home on the market, says a new study by Zillow.

In 20 of the 25 metro areas studied, homes listed anywhere between May 1 and May 15 sold nine days faster and for up to 1 percent more than the asking price.

“With 3 percent fewer homes on the market than last year, 2017 is shaping up to be another competitive buying season,” said Zillow Chief Economist Dr. Svenja Gudell in a statement.

“Many [homebuyers] who started looking for homes in the early spring will still be searching for their dream home months later. By May, some buyers may be anxious to get settled into a new home — and will be more willing to pay a premium to close the deal.”

Mark your calendar for a Saturday in May

Moreover, Zillow’s research revealed the best day to place a home on the market is Saturday — listings that appear on Zillow’s site on this day garner 20 percent more views than early-in-the-week listings.

The second best day to list is Friday, when properties receive 14 percent more views.

Lastly, Gudell says sellers have to be cognizant of other factors, such as weather.

Sellers in Texas, California and Florida have more leeway in when to list their home due to warmer weather patterns. Also, sellers who live in areas without distinct seasonal weather tend to have little variation in sales price based on the month.

Are you thinking of selling?  Call the Caton Team – it is what we do best!  We’re available for a free consultation.  

I read this article at: http://www.inman.com/2017/03/02/the-best-month-and-day-to-put-a-home-on-the-market-according-to-zillow/?utm_source=weeklyheadlines&utm_medium=email&utm_campaign=sundaysend&utm_content=20170310_readmore

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

Understanding Solar Easements

There is no fooling around when it comes to solar power, solar easements and how they effect Real Estate.  We recently had a bid on our home – it was eye opening.  Enjoy this article on…

Understanding Solar Easements

Interest in solar energy is growing as more and more homeowners, as well as business, are taking long, serious looks at this alternative source of power.  As with any new technology, however, there are potential problems.  For example, the sun’s rays must reach the solar collectors in order to produce energy from either active or passive systems.

If the sun were always directly overhead there would be no problem. It is not, of course, and this brings up the question of solar access – the availability of sunlight to reach of buildings solar collectors. Resolution of this problem often involves access across adjacent properties, which, in turn, involves a neighbors airspace.

The building owner, access questions involve both the height and setback of adjacent buildings. That’s where negotiated agreement for solar easement come into sharp focus.

Under such an agreement, one property owner would receive assurances from the other that the sunlight which travels over the neighbors property would always be available. The neighbor, and all subsequent owners, would be restricted in building or planting trees which could obstruct the sunlight.

After agreement, if such solar easements are properly recorded, problems could arise if the property is subsequently sold and the new owners are either unaware of the easement or not in agreement with its conditions.

A solar easement establishes certain land-use conditions agreed to buy the property owners involved. Such an agreement includes:

– A description of the dimensions of the easement, including vertical and horizontal angles measured in the degrees of the hours of the day, on specific dates, during which direct sunlight is a specified surface or structural design feature may not be obstructed;

– Restrictions placed upon visitation, structures and other objects which would impair or obstruct the passage of sunlight through the easement, and;

– The terms and conditions, if any under which the easement may be revised or terminated.

It is important, of course, that all solar easements be officially recorded, just as other use and conditions are included in public records. Otherwise, such an easement might not be noted during the title search at the time of a real estate sale.

Such an omission could create serious problems at a later date when the new owner decides to make structural or landscape changes that would affect the path of sunlight across their property. This article was edited from an article by the California land title Association provided by North American Title Company.

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnap: http://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitter: https://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

Spring housing already overheating—think 60 offers on one house

Spring housing already overheating—think 60 offers on one house

The spring housing market started early this year, not because of higher-than-average temperatures but because of hotter-than-average demand and overheating home prices.

This year may be the starkest example of a post-recession reality that is redefining housing as we know it.

“This spring housing market is shaping up to be another doozy for homebuyers,” said Ralph McLaughlin, chief economist for home-listing website Trulia. “Housing affordability is the key to helping break yet another year of gridlocked inventory, but all signs are showing that homes this spring will be much less affordable than last year.”

Affordability is being hit on several fronts: The foreclosure crisis is over, but it left behind an entirely new landscape for potential buyers. Entry-level homes are scarce because investors bought tens of thousands of them during the crisis and turned them into rentals. The number of single-family rentals jumped to more than 15 million, up from about 11 million in 2009, according to the U.S. Census.

Homebuilders continue to operate well below normal levels because of higher costs and a lack of labor, and thousands of construction workers left the business during the recession, never to return. Builders don’t focus on entry-level homes because the margins are simply too tight, and prices for new construction are also rising at a fast clip.

What’s more, credit is still tight, and the youngest cohort of buyers, the millennials, are delaying marriage and parenthood, the two biggest drivers of home ownership. The shortage of homes for sale has now pushed prices to a 30-year high, according to S&P CoreLogic Case-Shiller. Rising mortgage rates only add to the pressure.

“Home prices continue to advance, with the national average rising faster than at any time in the last two-and-a-half years,” said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices. “With all 20 cities [in the S&P/Case-Shiller Index] seeing prices rise over the last year, questions about whether this is a normal housing market or if prices could be heading for a fall are natural.”

At a Sunday open house in Los Angeles this weekend, nearly a dozen house hunters showed up before the scheduled start. The three-bedroom, two-bathroom home was reasonably priced, in a desirable neighborhood and move-in ready.

“Typically for a home like this we would expect to see upwards of 15 to 20 offers,” said Fabrizzia Perri, the Redfin agent showing the property. “Recently, I was at a similar listing that had 66 offers on it, of course only one person wins, so 65 homebuyers have to restart their home search.”

Emily Leach, 35, knows that story all too well. She has been looking for a few months, hoping that by getting in before spring she might have a better chance at an affordable home. So far, that has not been the case.

“We actually had a house that we saw that we really liked in South-Central Los Angeles, and we tried to make a move on that and we got outbid. South-Central!” she laughed.

Michelle and Derrick Jacob have been trolling the market for six months. They have a strict budget with little leeway, making it difficult for them to compete.

“The ones we want seem to be purchased in a snap, over asking price most of the time, well over asking price,” Derrick Jacob said.

Housing demand climbed considerably this year, even compared with last year, as the leading edge of the largest generation finally moves into homebuying and a stronger job market supports them. A monthly demand index from Redfin jumped to the highest level since January 2013, when the index began. Compared to January 2016, homebuyer demand was up 23 percent, led by a 26 percent annual increase in homebuyers requesting tours and an 18 percent increase in buyers making offers.

“Soaring stock markets, still-low mortgage rates, and a steady economy bolstered homebuyers at the start of 2017,” said Nela Richardson, Redfin chief economist. “Homebuyers were not just window shopping. They were serious about making offers and getting to the closing table. However, this uptick in homebuyer enthusiasm won’t guarantee strong sales in the coming months. With pending home sales down across the country in January despite strong demand, the lack of supply is a formidable foe for buyers this year.”

Higher home prices in some areas are supported by improving local economies and employment, but in other markets, too much demand pitted against too little supply is resulting in overheated housing. Dallas, Las Vegas, Phoenix, and Portland, Oregon, are overpriced by 10 to 14 percent, according to a recent report from Fitch Ratings, which considers markets overheated when they exceed the areas’ supporting economic fundamentals. Los Angeles, Miami and Tampa, Florida, are close to 10 percent overvalued.

Analysts at Fitch don’t predict when any of these bubbles will burst, but they do point to certain warning signs.

“For Dallas, the current unemployment rate in the Fort Worth [Texas] region is 3 percent. You’d have to go back 30 years to go that low. We think it’s not sustainable. The business cycle will turn. Eventually, when it does, home prices will come down,” said Samuel So, director of research at Fitch.

Potential buyers today are facing tough new realities. Some houses are clearly overpriced, and renting is still a better financial option in some markets. Competition is fierce for the best homes, and buyers have to be ready to pull out all the tricks.

“You have to make an introductory letter, little story about yourself and you just hope that the home that you’re buying is not being sold by a flipper because they are much more neutral,” Leach advised. “If you have a home that’s being sold by the previous owners, you might be able to get that emotional human connection.”

Curious about our local Silicon Valley Real Estate Market – Contact The Caton Team for a one on one consultation.  

I read this article at: http://www.cnbc.com/2017/02/28/spring-housing-already-overheating-think-60-offers-on-one-house.html

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