Will the real estate market change signal move ups?

Will the change in Real Estate market signal the return of move up sellers?

Since 2007, quite a few past clients, their friends and family had stopped making moves to new homes if they could put it off.

Now 4-5 years later, time has marched on and these clients have further outgrown their homes.

While lending requirements have changed dramatically the need for a real estate change has not.  I am talking to more individuals who are preparing to make a change in the coming year. Continue reading

Lowest Priced Home Sold in Almaden Valley – $98,000

$98,000 for a home in Almaden Valley? Absurd right?

No, I did not leave off a zero in that number.  That home had one very big functional problem which would require an all cash offer.

A tree fell on it.  Or I guess through it…

You have another crazy home sale?  Tell me about it.

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Time to move up to a larger home?

I recently assisted some past clients make a move from their smaller cute Willow Glen home to another Willow Glen charmer. 

Their first home was a charming home that needed a lot of upgrades and over the last 6 years they put in a beautiful bathroom, gorgeous kitchen and a new staggered shake roof that only built upon the charm of the home.  But the home had gotten too small for a family so the wife was always looking at the Willow Glen homes for sale.  She spotted something that was a perfect size.  Since the home was built in the early 1900s and fairly original they knew they would be having to get back to work again.

We were able to buy the new home contingent on the sale of their first home.  The home they wanted had multiple offers so we have to structure the offer to be appealing and even more importantly we had to price their home to sell right away.   My clients and I worked together as a team which is what is need if  you try to pull this off.   So you have to work side-by-side with your Realtor to pull off a massive undertaking such as this.

In 50 days they moved into their new home preparing for their new family!

Are you wanting to move up?
1) Do your homework.  Find out how much your current home is worth.
2) Get your financing in order
3) Hook up with a knowledgeable Realtor.  The agent’s reputation to get the job done may be what is needed to even get looked at by the seller of the new home.
4) Take the advice of your Realtor.  Price your current home at the very bottom end of valuation.  You have no time to waste. 
5) When looking at the offer for your current home you want to see how committed the buyer is to the home, is the other agent knowledgeable and able to get the job done?  Are there any property conditions that can get in the way of the closing.

Good luck!  Happy house hunting.

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Homebuyer Credit May Help Stimulate the Economy More

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Image by studio-d via Flickr

I am very pleased that existing homeowners might be able to benefit from the current credit plan signed into Law this week. 

There is a great article on this describing different scenarios for current homesowners – go to http://bit.ly/creditexplained. With low inventory in the Santa Clara County this might spur on the move-up buyers who have been frozen in their existing homes.  In turn leaving 1st time buyer to aquire their newly vacate property.  I have a number of clients who have had their family size increase while living often in their first home.  These home are now undersized.  The $6500 credit might be the answer to make the move to a larger home. 

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