Silicon Valley Real Estate BlogRecently posted or modified blog postshttps://www.thebrasilgroup.com/blog/Copyright TheBrasilGroup.com2024-02-05T15:14:03-07:00tag:thebrasilgroup.com,2012-09-20:30989Commissions at the Brasil Group
How Do We Only Charge a 1.5% Listing Commission?
Selling a home can be expensive, and at our current home values the commissions are very high.
You are probably aware that the commissions you pay when you sell your home are derived from the home’s sale price.
At the Brasil Group when determining commission we consider a number of factors.
We look at the home’s value as well as the amount of work and services involved in preparing the home to be listed. We then propose a commission rate that is consistent with our income model.
If you are selling a $2M dollar home, the commission rate that you pay should be less than someone selling a $1M home, considering all the services and work are equal.
We typically charge our sellers anywhere from 1.5% in listing commissions and recommend a 2.5% buyer broker compensation commission. If you are not sure how real estate commissions work, please read our post on <a href="https://www.thebrasilgroup.com/blog/how-do-real-estate-commissions-work/">real estate commissions</a>.
If you are interested in understanding more about our listing commission and what commissions we would charge for selling your home, please give me a call 408-582-3272 or feel free to set up a <a href="https://tidycal.com/vbrasil" target="_blank" rel="noopener">direct consultation with me, Vinicius.</a>
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Our Philosophy on Real Estate Commissions
When you purchased your home you paid a lot for it. You worked hard to make the payments, maintain it, and raise your family in it. So whether you are retiring, relocating, upgrading, downgrading, or leaving it to your children we believe you should be able to keep as much of the value of your home.
Real Estate commissions are high especially when you factor in our local home values.
At the same time real estate is a very demanding job. It takes an immense amount of time and talent, professional connections, and lots of experience to complete a successful real estate transaction and deliver the best results.
As a homeowner, you probably understand this. You also understand the importance of selling your home and not going to be satisfied with any real estate professional with low real estate commissions. You need someone you can trust and someone who can deliver on what you want.
That’s how I feel, but I also feel that there should be fairness and transparency in real estate commissions.
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What Should I Expect for Paying only 1.5% Commission?
You might be wondering what’s the catch?
The reality is, there is no catch. I just want to be fair, and that means that everyone I work with pays a similar commission according to our model.
Often in our industry, it is common for agents to charge different commissions among their seller clients. All that varies is the client’s willingness to pay. So a scenario where an agent can have two simultaneous selling clients with similar homes and is charging two completely different commissions is completely possible and happens frequently.
This is perfectly legal and to some people this is completely fair. As owner of the Brasil Group, I wanted to model my business practices in a fair and transparent manner.
Our clients should expect to be paying a commission that is consistent with what we charge our other clients and should expect nothing less than our highest level of service.
That means all our clients receive FULL SERVICE which includes our full suite of services.
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What Does Full Service Mean?
Full service means that there is one level of service and that is the best and highest service we offer.
We understand how important selling a home is and what needs to be done to do it right and get the highest price for our sellers. So we don’t skimp on our service.
We see every client’s transaction as a critical transaction that needs our utmost care and attention. Whether you pay 1.5% or more, you are getting full service and no excuses.
As a full-service company, we provide a comprehensive suite of marketing tools and services that are designed to get your home sold for the highest price.
Being a local firm that specializes in Santa Clara, we provide unique insight into the market conditions, homes, and neighborhoods and offer information that only an experienced specialist in your area can. You get a dedicated and experienced professional serving as your one direct point of contact.
Our listing service is designed to handle all aspects of listing and selling a home. We call it the <a href="https://www.santaclararealestateguy.com/seller-services/">Complete Selling Solution</a>, and it was created to make the process of selling a home as smooth as possible by handling many of the responsibilities of preparing a home.
You may not desire this level of service, you may just want to sell your home AS-IS and that’s ok. Understand that we are willing to do what is needed to satisfy your needs and provide you the highest level of service.
For more information about our listing service, check out our<a href="https://replug.link/bg-home-selling-guide"> Complete Selling Solution</a>.
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Why You Should Work With Us
First and foremost, honesty and transparency.
We love our clients and appreciate the trust they put in me and my team to handle this important aspect of their lives. Therefore, I feel the client and realtor relationship should start of with an honest understanding that what we are charging is consistent throughout all our clients.
As we work closely with our clients, its natural that we develop a personal relationship and desire to help them achieve their goals.
Lastly and simply we do great work. Whether its the intimate understanding of the current market, understanding of your home, the high quality staging and marketing services we deliver, everything we do is done with the expectation that it gets the best results for our clients.
For further details or questions about our service please reach out directly to me.
2023-10-24T16:09:39-07:002023-11-01T15:21:59-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:30986Our Services
We Know the Silicon Valley Real Estate Market
Silicon Valley is a unique and diverse area. Each community has its own character. Each neighborhood appeals to a different buyer. To obtain the highest possible sales price for your home, the marketing must reach the right buyers with the right message. We have the network and experience to do this.
<br /><br />Sell Your Home Quickly and for Top Value
The home-selling process can often seem time-consuming and overwhelming. We understand these concerns, which is why we structured our services to take care of all the details and make your home sale as painless as possible. I want to let you know that you don’t have to go through this by yourself or have to put off the sale of your home any longer and hold up your life—our team will help alleviate the hassle of selling your home with our Complete Selling Solution.
During all phases of a listing, from the initial paperwork and promotion through the very last details of the closing, we personally attend to all of the details.<br /><br /><br /><br />2023-10-24T14:22:29-07:002024-02-05T15:14:03-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:30982Complimentary Home Staging
Maximize your home's value with our FREE home staging services!
If you’re looking to sell your home, you want to get the highest possible value for it. That’s where our complimentary staging services come in.
Staging is by far the least expensive and least intrusive way to get your home sold for a higher dollar amount.
Our team of experts work to showcase your home’s best features and create a welcoming atmosphere that will appeal to potential buyers. By maximizing your home’s value through staging, you’ll increase its marketability and attract more interested buyers. With our free staging services, you can rest assured that you’re getting the most out of your home sale. Let us help you sell your home quickly and for the highest possible price with our complimentary staging.<br /><br />
BENEFITS OF HOME STAGING
<img decoding="async" src="https://www.santaclararealestateguy.com/complimentary-staging/" alt="" />
Makes a great first impression:
Home staging helps to showcase your property in the best possible light, making it more appealing to potential buyers. This can make a great first impression and encourage buyers to take a closer look.
<img decoding="async" src="https://www.santaclararealestateguy.com/complimentary-staging/" alt="" />
Enhances the appearance of the home:
Staging can transform a property by highlighting its best features and downplaying any flaws. This can make your home more attractive to buyers and increase its perceived value.
<img decoding="async" src="https://www.santaclararealestateguy.com/complimentary-staging/" alt="" />
Helps buyers visualize themselves living in the home:
Staging can help buyers visualize how they might use the space and picture themselves living there. This can make it easier for them to imagine themselves living in the home and help create an emotional connection.<img decoding="async" src="https://www.santaclararealestateguy.com/complimentary-staging/" alt="" />
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Maximizes space and flow:
Staging can help to maximize the space in your home and create a sense of flow from room to room. This can make your home feel more spacious and open, which can be especially important in smaller properties.
<img decoding="async" src="https://www.santaclararealestateguy.com/complimentary-staging/" alt="" />
Increases the likelihood of a faster sale:
A well-staged home is more likely to sell faster than a home that has not been staged. This can be especially important in a competitive market where buyers have a lot of options to choose from.
<img decoding="async" src="https://www.santaclararealestateguy.com/complimentary-staging/" alt="" />
Can lead to higher offers:
A staged home can often command a higher price than a similar property that has not been staged. This is because staging can make your home more attractive and desirable to buyers.
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Our in-house staging group makes homes look and feel great and it’s 100% FREE to our listing clients.
Our staging evokes the buyer’s emotions and allows them to envision the property as their home.
We own all of our staging furniture and decor which allows us to directly control the quality and style.
Using the right furniture for the style of your home our staging will highlight your home’s strengths and minimize its weak points.
We work around your needs whether that means adding furniture and decor to match the style of your home or starting from scratch with a vacant home.
Our staging uses real flat panel TVs and Smart Home switches and outlets to make sure your home is well lit and realistic.
Advantages of our staging is the quality, time, and flexibility.
2023-10-24T12:55:06-07:002023-10-27T13:34:22-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:30953RENOVATE NOW, PAY LATER
When it comes to buying a home in our local market, move-in ready properties are highly valued by home buyers. In fact, homes that have been fixed up, brightened, and styled to perfection can fetch a significantly higher price.
As a homeowner looking to sell your property for top dollar, you’ll want to take advantage of our “Renovate Now, Pay Later” program. With this program, you don’t need to have the cash upfront to pay for renovations. Our team of expert designers, remodelers, and project managers will quickly update your home, saving you time and money.
Best of all, you only pay for the renovations at the close of escrow, and there are no hidden catches. By using our program, you can expect to see a 10-20% increase in the sale price of your home.
How Do Our “Renovate Now, Pay Later” Services Work?
The “Renovate Now, Pay Later” program is part of our Complete Selling Solution which covers all the aspects of selling a home from renovating, complimentary staging, marketing, selling, and managing the transaction.
The first step in the “Renovate Now, Pay Later” program is the home evaluation.
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Home Evaluation
We’ll meet and review a market analysis of your home, and prepare a proposal of the necessary updates and costs that will get your home the maximum return on your investment.
Home Preparation
Once you approve the plan, we get to work selecting materials and paint colors, coordinating contractors, and supervising the project until completion.
Projects can involve flooring, paint, sheet rock, and texturing.
Remodeling bathrooms, kitchens, and updating fixtures and lighting.
Installation of a new roof, garage door, and landscaping.
The updates are carefully planned out to add value to your home and maximize the return.
You benefit from lower remodeling costs, a faster turn around, bypassing the hassle of managing the project yourself, and lastly you can defer the costs until the close of escrow.
<br /><br />Benefits of “Renovate Now, Pay Later” Home Selling Services
Increased home value and sales price: One of the most significant advantages of renovating your home before selling it is that it can increase its value. Homebuyers are often willing to pay more for a move-in-ready home, which means that renovations can help you sell your home faster and for a higher price.
No upfront costs: Renovating a home can be expensive, and many homeowners may not have the necessary funds to complete the renovations themselves. With a “renovate now, pay later" approach, homeowners can benefit from selling their home for top value and paying when their home closes.
Hassle-free renovations: Renovating a home can be a stressful, time-consuming, and expensive process. With Renovate Now and Pay Later, you have a team working to take care of all aspects of the renovation process, saving you time and money.
<br /><br />Conclusion
For over twenty years, we have helped hundreds of home sellers get top dollar for their home through our Complete Selling Solution
If you have any questions or are interested in our “Renovate Now, Pay Later” program, please contact me directly.
I am happy to set up a free, no-obligation evaluation of your home.2023-10-23T18:20:04-07:002023-10-27T13:06:36-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31014Navigating the Bay Area Real Estate Market: Is Now the Right Time to Buy?
If you've ever sought advice from a realtor or real estate agent in the Bay Area about whether it's a good time to buy a home, you've probably heard a resounding "YES." However, the question we should be asking ourselves is, "Is it the right time for ME to buy a home in the Bay Area?" The Bay Area's real estate market is known for its tight inventory, competitive bidding wars, and rising home values, but the decision to buy should ultimately be a personal one. In this blog post, we'll explore the factors to consider and help you make an informed decision about when to enter the Bay Area's housing market.<br /><br />Timing the Market
The Bay Area's real estate market is known for its ebbs and flows. Depending on the type of property and the specific area, market conditions can vary significantly. When prices are on the rise, buyers often find themselves in fierce bidding wars, driven by fear of being priced out of the market. The risk here is overpaying or buying at the peak, only to see prices plummet later.<br /><br />The Psychological Pressure
In hot markets, the pressure to secure a property can lead buyers to make hasty decisions. Anxious about finding a home, they might end up with a property that doesn't truly meet their needs. In contrast, slow markets encourage caution, with buyers waiting for the ideal property to come on the market. This underscores the importance of understanding your own motivations and needs.<br /><br />Reading Market Clues
While it's challenging to predict market tops and bottoms, there are signs to watch for. When homes consistently break price records, it could indicate an impending market peak. Affordability becomes a concern when home values rise alongside interest rates. Additionally, market seasonality plays a role, with more homes hitting the market in the spring and summer, signaling a potential slowdown and even price drops.<br /><br />Current Market
Taking a look at the present market conditions, we see that interest rates have risen, impacting affordability. Fewer buyers are on the market, but there are also fewer homes available. This means that competition is still a factor, though not as intense as in the past.<br />You can see curent mortgage rates <a href="https://www.mortgagenewsdaily.com/mortgage-rates">here</a>.
<br /><br />Benefits and Drawbacks
In the current market, there are both benefits and drawbacks to consider. On the positive side, there's less competition, and prices are somewhat lower than in the past. However, interest rates are higher. This might be an excellent time to buy a home because you have the opportunity to make a more considered decision, without the anxiety of rapidly rising home values.<br /><br />Opportunity Costs and Risks
Waiting in the hopes that property values might drop in the future carries its own set of risks. The market can turn around at any time, leading to tighter inventory and fiercer competition. Prices will begin to rise again, potentially pushing you to make a quicker decision.<br /><br />Conclusion
Ultimately, the decision to buy a home in the Bay Area should be guided by your personal circumstances and priorities. While the market's dynamics can be challenging to predict, understanding the current conditions and reading market clues can help you make a more informed choice. Whether you decide to buy now or wait for better opportunities, the key is to ensure that the home you choose truly fits your needs and financial situation.
2023-10-23T17:43:00-07:002023-12-04T13:18:12-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31066Everything Buyers Need to Know About Escrow
Congratulations! Your offer to buy a home just got accepted. Now that you're on the path to becoming a homeowner, you might be wondering, "What's next?" In this blog post, we'll take you through all the steps during the escrow process, discussing the various stages and helping you prepare for what to expect.
Step 1: Earnest Money Deposit (EMD)
The very first thing that needs to be done is the Earnest Money Deposit (EMD). This is the initial deposit you make in escrow after your contract is accepted by the seller. Typically, you have a 3-business day period to make this deposit. However, it's common to shorten this period to just 1 business day in some markets. Your escrow agent will provide you with wiring instructions for your EMD, usually through a secure email. Always confirm these instructions over the phone and ensure they match the bank's name. Wire fraud is a real concern, so take necessary precautions.<br /><br />Step 2: Escrow - What to Expect
During the escrow period, you'll work on finalizing your loan approval, performing buyer diligence, and making preparations for moving into your new home. This is also the time when you might want to conduct inspections, even if your offer is non-contingent. Keep in mind that a non-contingent offer means you've already done your investigations, and if you find something during inspections, the seller may not be obligated to make repairs. Coordinate repairs, fumigation, and any updates with the seller's agent.
Step 3: Contingencies and How to Remove Them
In most cases, buyer contingencies are not common, but if you have them, you'll need to remove them within the specified time. This is done explicitly with a contingency removal form. If contingencies aren't satisfied, you'll need to discuss the next steps, like requesting an extension or canceling the agreement.<br /><br />Step 4: The Closing Process
As you move through the escrow process, there are several key steps to be aware of:
Contract acceptance
Deposit wired to escrow
Sending the contract and preliminary title report to your lender
Appraisal ordered and scheduled by the lender
Buyer investigations
Appraisal completion
Satisfying loan conditions
Loan approval
Contingency removal if applicable
Closing disclosure sent to escrow (must be sent 3 days before buyers signing)
Loan docs sent to title company
Buyer signs
Buyer brings remaining down payment funds to escrow
Buyer conducts final walk-through of property
Lender funds the loan (one day before closing date)
Escrow closes
Completing Transaction Paperwork
After closing, you'll need to review and sign various documents associated with the transaction. Ensure all signatures are in order and all required information is in your files. If you have questions about any document, don't hesitate to reach out.
Lender and Appraisal
Your lender and appraisal play critical roles in the home buying process. The lender will require a ratified contract and a preliminary title report. It's essential to select a lender quickly and ensure they can meet the agreed-upon close of escrow date.
Insurance
If you're purchasing a single-family home, you'll need homeowners insurance. Your lender will require the home to be insured from the closing date onwards. The insurance company may want to inspect the home and may inquire about flood zone status. If the home is in a flood zone, you might need a separate flood insurance policy. For condos or townhomes, HO-6 insurance is usually required for interior damage.<br /><br />Communication
Expect regular updates throughout the escrow process. You'll be working closely with your lender to meet their requirements. Appraisal results, loan conditions, and the loan approval status will all be communicated to you. As the transaction close date approaches, we'll help coordinate important events like signing with the escrow company, the final walk-through, utility transfers, and the closing of escrow.
Escrow and Signing
When your loan documents arrive at the title company, you can schedule your buyer sign-off. In California, we sign our escrow paperwork prior to closing and authorize the escrow company to perform certain actions on our behalf. Expect to sign a few days before the actual closing date.
Some of the documents you'll sign at escrow will require a notary, especially the loan documents. Notarization must be done in person and by a notary within the US. If you plan to be outside the US during escrow, special arrangements need to be made.
The escrow officer will schedule your sign-off once everything is ready to be signed. This can be done at the escrow office or anywhere in the US via a remote notary, but be aware that using a remote notary incurs an additional cost.
During your sign-off, you'll review the closing statement with all the closing costs and sign your loan paperwork. Since you won't have much time to review all the documents during signing, it's best to request them in advance from the escrow officer for a smooth signing process.<br /><br />Documents in the Sign-Off
Estimated Closing Statement with Closing Costs
Tax Paperwork
Escrow Authorization Paperwork
Lender’s Loan Documents
Some Disclosures
Your estimated closing statement will provide the amount you need to bring to escrow. This amount includes your down payment, closing costs, minus the money already in escrow from your Earnest Money Deposit (EMD). This amount should be at the escrow company one day prior to the close of escrow. Escrow will work with you on how to wire this money to their bank. Always verify wiring instructions with your escrow officer and avoid using unverified email instructions.
Funding the Loan
After you've signed the loan documents, the lender will send the file to the funder to prepare the loan to be funded. Escrow will collaborate closely with the lender to fund the loan. Typically, the loan is funded the day before the closing date, but in some cases, it can happen on the same day as closing. Once all the funds are in from the buyer and lender, the transfer documents will be recorded at the county recorder's office. This typically happens on the morning of the next business day, officially marking the Close of Escrow and making the property yours.
We usually receive confirmation of the deed recording around 12 noon.
These are critical steps in the home buying process, and we'll be there to guide you through each milestone. If any issues arise, we'll keep you informed and work towards resolving them. Don't hesitate to reach out if you have any questions or concerns during this phase of the escrow process. Your satisfaction and understanding are our top priorities.<br /><br />Utilities
A few days before closing, schedule the transfer of utilities into your name. This includes water, garbage, electricity, and gas. Also, consider your phone and internet providers and alarm companies.
Walk-Through
A walk-through will help you verify the property's condition and ensure any requested repairs have been completed. This is your last chance to inspect the home before it becomes yours. Take note of warranties, keys, and other important details provided by the seller.<br /><br />Post-Closing Activities
Your journey doesn't end at closing. Here are some post-closing tasks:
Seller rentback coordination
Learning about your new home and its maintenance
Coordinating fumigation or termite treatments
Repairs and updates
We're here to support you through this transition into homeownership.
Conclusion
The escrow process can be complex, but we're here to guide you every step of the way. Your primary responsibility as a buyer is to work closely with your lender. Keep in mind that no two escrows are the same, and issues or delays may arise, but we're here to help resolve them and ensure a smooth closing.
We hope this blog post has given you a clear understanding of what to expect during the home-buying escrow process. If you have any questions or need further assistance, please don't hesitate to reach out. Your new home journey is about to begin, and we're here to help you every step of the way.2023-10-23T17:05:00-07:002023-12-04T13:38:07-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31013How to Calculate Capital Gains When Selling Your Home
If you're worried about high commissions when selling your home, there might be a larger expense you haven't considered – capital gains. Did you know that you could potentially be facing as much as a 40% capital gains tax when you sell your home in California?
If you're thinking of selling your home in California, it's crucial to understand how capital gains work when you sell your primary residence. Let me break it down for you.
Disclaimer: First and foremost, I want to clarify that I'm not a tax professional. The tax code can be complex and confusing, and its application varies from person to person. To get a clear understanding of your specific tax situation and capital gains, I strongly encourage you to consult with a tax professional. If you need recommendations for a reliable tax expert, feel free to send me a message or email, and I'll be happy to assist you. <br /><br />Misconceptions about Capital Gains
They say that two things are certain in life: death and taxes. If you've accumulated substantial equity in your home, understanding capital gains is essential to anticipate the tax liability you might face when selling.
In my experience, many homeowners are taken aback by the amount of capital gains they owe upon selling their homes. There are numerous misconceptions about how capital gains work, especially when it comes to the sale of a primary residence. Much of the confusion can be traced back to changes in the tax code dating back to 1997, which allowed you to defer your capital gains if you purchased a property of higher value after selling.
However, the current tax code is notably different, only allowing exemptions for the first $500,000 in profits for married couples and $250,000 for single individuals. Anything beyond these exemptions is considered a capital gain.<br /><br />Understanding How to Calculate Your Capital Gain
Let's work through an example to illustrate how to calculate your capital gains.
In our example, the homeowners purchased their home for $250,000 and are now selling it for $2 million.
The first step is to determine your basis. Your home's cost basis is usually what you initially paid for it. The basis can also be adjusted if your spouse passed away or if you acquired the property later in a divorce settlement.
For the sake of simplicity, let's assume the original purchase price is the basis in this example. So, in our example, the homeowners purchased their home for $250,000.
In addition to the basis, you can add any costs incurred to acquire the home, such as closing costs. Let's assume the homeowners had $5,000 in closing costs when they originally purchased their home.
Next, you can factor in the costs of improvements made to the home, like additions, remodeling, heating or cooling systems, new windows, and landscaping improvements. Essentially, anything that enhances your home's value can be considered an improvement. For our example, let's assume the homeowners spent a total of $100,000 on improvements.
Then, you should consider the costs incurred while selling your home, such as commissions and closing costs. In this example, let's assume these costs are approximately 5%, which would amount to $100,000 for a $2 million home.
Finally, you can apply your exemption, which is $500,000 for a couple selling their primary residence.
To calculate the capital gain, you deduct the basis, costs incurred during purchase, improvement costs, selling costs, and the exemption. In our example, the calculations come out to $955,000. The difference between the sale price and these deductions is the capital gain, which, in this example, is $1.045 million.
It's essential to note that the capital gain is distinct from your proceeds. The proceeds depend on any outstanding loans on the property and your selling costs.<br /><br />Calculating Your Tax Liability
Now, let's get into the complex part – calculating your capital gains tax liability. This involves understanding your filing status and your total capital gains for the calendar year.
Both federal and California capital gains rates are based on a tiered schedule, where higher capital gains result in higher tax rates. For instance, married couples who file jointly have a zero federal capital gains rate on the first $80,000 in capital gains, which means no federal tax on the initial $80,000. However, any capital gains above $501,601 are taxed at a 20% rate.
Here are the 2023 capital gains rate tables for Federal Long Term Captial Gains.
<img src="https://assets.site-static.com/userfiles/1078/image/Tax_Rates-01.jpg" width="1920" height="1080" />
Here are the 2023 California Capital Gains Rate Table
<img src="https://assets.site-static.com/userfiles/1078/image/Tax_Rates-02.jpg" width="2081" height="1080" />
Keep in mind that if you earn over $250,000 as a married couple or $200,000 as an individual, including your real estate sale gains, you are subject to an additional 3.8% tax.
As you can see, this can become quite complex. This video is intended to provide a general understanding and is not meant to determine your exact tax liability when you sell your home. For that, you should consult a tax professional, and I'm happy to recommend one if needed.<br /><br />A Couple of Important Points
Regarding withholding taxes when you sell, the federal government doesn't require withholding if the home is your primary residence and you are not a foreign national. In other words, if you have a green card or are a citizen. However, California does require withholding if it is not your primary residence.
Lastly, keep in mind that our tax system is constantly evolving, with significant changes often occurring when new administrations take office. As of my last update, the Biden Administration had proposed raising capital gains tax rates for top earners, those making over $1 million or more, to 39.6%, essentially treating it as regular income. Please verify the current status of this proposal.<br /><br />Conclusion
In recent decades, we've witnessed significant appreciation in local property values. While this is excellent for wealth creation, the tax consequences are often overlooked and poorly understood. The purpose of this article is to shed light on the costs associated with selling a property, helping you make informed financial decisions when selling your home.
I'm not qualified to provide tax advice, but I'm here to answer any general questions you may have and guide you in the right direction to obtain the information you need. If you'd like to schedule a free, no-obligation phone call or meeting, please don't hesitate to contact me directly.2023-10-23T16:43:00-07:002023-10-30T16:07:29-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31065Everything Sellers Need to Know About Escrow
Congratulations! If you're reading this, it means you've accepted an offer on your home. You're now on the path to closing the deal. In this blog post, we will walk you through the entire escrow process, highlighting the key steps and what to expect at each stage.<br /><br />Step 1: Earnest Money Deposit (EMD)
The first order of business is the Earnest Money Deposit (EMD). This is a significant step, as it signifies the buyer's commitment. Typically, the deposit should be received by the escrow company within one business day of offer acceptance. This deposit is often wired to the escrow company.
Step 2: Escrow Begins
Once the EMD is in place, escrow officially commences. The title and escrow companies, often the same entity, start gathering all the necessary information to close the transaction. This is the phase when the buyer's due diligence occurs, including inspections.
Step 3: Buyer's Due Diligence
Buyers will conduct inspections and possibly make additional requests. Even if the offer is non-contingent, inspections help ensure that the property's condition matches expectations.<br /><br />Step 4: Escrow Timeline
Here's a summary of the steps involved in the coming weeks:
Contract Acceptance
Deposit Wired to Escrow
Appraisal Ordered and Scheduled
Buyer Investigations
Complete Title Company Paperwork
Appraisal Report
Loan Conditions Satisfied
Loan Approval
Schedule Seller Sign-Off
Seller Signs Escrow Paperwork
Buyer’s Closing Disclosure Sent to Escrow
Buyer’s Loan Docs Delivered to Escrow
Buyers Sign Closing Documents
Buyer Brings Remaining Down Payment Funds to Escrow
Buyer Conducts Final Walk-Through of Property
Lender Funds Loan
Seller Leaves All Keys and Documentation for Property
Escrow Closes
Most of these steps are primarily the buyer's responsibility, with the seller focusing on signing escrow paperwork and preparing to vacate the property.<br /><br />Step 5: Required Transaction Paperwork
In the weeks leading up to closing, you'll review and confirm that all necessary paperwork is in order. If additional forms require your signature, these will be sent via DocuSign for your convenience.
Step 6: Escrow/Title Paperwork
You'll receive a request for information from the title company, which is vital for completing title searches and arranging loan payoffs. Timely submission of this information helps prevent delays.
Step 7: Mortgage Payments and Property Taxes
Regarding mortgage payments and property taxes, consider your closing date in relation to the due dates to avoid penalties. Pay close attention to your mortgage statement's grace period if your closing date is around the 15th of the month or near property tax due dates.
Step 8: Appraisal for Buyer’s Lender
The buyer's lender orders an appraisal, which involves a property inspection. This step ensures that the property meets required safety standards, including smoke detectors, CO detectors, and properly strapped water heaters.<br /><br />Step 9: Communication
Throughout the process, you'll receive regular updates on the transaction's progress.
Step 10: Schedule Seller’s Sign-Off with Notary
In California, sellers sign escrow paperwork before closing. Ensure your documents are in order and expect to sign days or weeks before the actual closing date. Some documents will require notarization.
Step 11: Buyer’s Loan Documents & Closing
Buyer's loan documents generally reach escrow 3-5 days prior to close. Any delays in these documents may result in a delayed closing.
Step 12: Buyer’s Walk-Through
A few days before closing, the buyer will likely do a walk-through to verify the condition of the property.
Step 13: Utilities Transfer & Insurance Cancellation
As we approach the close of escrow and we are certain there will be no delays, typically once the buyer's loan docs are in title or the loan has been funded you should be able to schedule the utilities to transfer.<br /><br />Step 14: Closing
Once the transaction is officially closed, you can cancel any property insurance policies. You'll receive confirmation from the county that the transaction is complete.
Please do not cancel insurance policies until escrow has closed.
Summary of Communication
Throughout the escrow process, we will provide you with regular updates to ensure you are well-informed. Here's a summary of the communication schedule:
Week 1 - one week after offer:
Potential date for appraisal
Confirm you have received the escrow package from Lawyers title
<br />Week 2 - 2nd week in escrow:
Confirm you have completed and returned the escrow package from Lawyers title
Status of the loan
<br />Week 3 - 3rd week in escrow:
Confirm escrow has reached out for the seller's signing appointment
Status of loan docs
<br />Week 4 - 4th week in escrow:
Buyer’s Loan Docs Are in Title
Buyer Signs Loan Docs
Buyer’s Loan Funds
Property is Recorded
If at any time you have any questions or concerns, please do not hesitate to reach out to us.
<br /><br />Step 15: Post-Closing
If you're occupying the home after the closing, we will be coordinating the transfer of occupancy to the new owners.
Conclusion
The escrow process is multi-faceted, and no two transactions are identical. Rest assured, we are here to guide you through each step, provide regular updates, and address any questions or concerns you may have. Your peace of mind and a smooth transaction2023-10-23T16:11:00-07:002023-12-06T13:16:03-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31012Understanding Proposition 19: A Comprehensive Guide to California Property Tax Changes
In California, homeowners aged 55 or older have an opportunity to transfer their existing property taxes to a new primary residence, thanks to Proposition 19, also known as Prop. 19. This blog post will provide a thorough understanding of Prop. 19, its significance, and how it can benefit homeowners in the state.<br /><br />What is Proposition 19?
Proposition 19 was passed in November 2020 and became effective on February 16, 2021, bringing three vital components into play:
1. Property Tax Transfers for Individuals 55 and Older:
Prop. 19 focuses exclusively on property taxes, distinct from income taxes or capital gains. If you're 55 or older, you can transfer your current low property taxes to a new home.
2. Changes in the Inheritance of Property:
Prop. 19 alters the way property taxes are handled when property is inherited within a family. This change went into effect on February 16, 2021.
3. The Creation of the California Fire Response Fund:
Prop. 19 establishes the California Fire Response Fund, intended to support local fire staffing and emergency response, including CalFire.<br /><br />Why is Prop. 19 Important?
To comprehend the significance of Prop. 19, let's first look back to 1978 when Proposition 13 limited property tax increases to just 2% per year, based on the property's value at the time of sale. Prop. 19 builds upon the foundation laid by Prop. 60 and Prop. 90, which allowed homeowners aged 55 and older to transfer their tax basis to a property of equal or lesser value within the same or participating counties. However, Prop. 19 takes it a step further, permitting tax basis transfers to any property in any of California's 58 counties. This expansion also extends to those who are severely disabled or victims of natural disasters, such as wildfires.
How to Qualify for Prop. 19?
To qualify for Prop. 19, if you're married, only one owner on record needs to be 55 or older. Both the property you sell and the one you purchase must be considered primary residences according to the tax code. Consulting a tax advisor or expert is recommended to determine if your unique situation qualifies.<br /><br />Do I Have to Buy or Sell First?
You can buy your new home or sell your old one first – the order doesn't matter. What's important is that both transactions must be completed within two years of each other. You can take advantage of Prop. 19 up to three times, even if you previously benefited from Prop. 60/90.
Is There a Limit to the Home Price?
No, there is no specific price limit for the home you can buy, but there is a limit to the amount of your tax basis that you can transfer. The amount you can transfer is limited to the value of the home you sell.
Let's illustrate this with two examples:<br /><br />Example 1:
The homeowner sells their primary residence for $2 million and buys a new home for $1 million. Their current tax basis is $350,000, and they pay about $4,000 annually in property taxes. After transferring their tax basis, they continue to pay $4,000 per year on their new residence, thanks to Prop. 19.
Example 2:
The homeowner purchases a new home for $2.5 million after selling their $2 million primary residence. The county assessor assesses the new home, with $2 million valued at $350,000 and the remaining $500,000 at $850,000. This results in an estimated yearly property tax of approximately $10,200, significantly less than the $30,000 they would pay without Prop. 19.
Now, let's delve into the implications of Prop. 19 on inherited properties:
The Impact of Prop. 19 on Inherited Properties
Before Prop. 19, when real estate was passed down from parents to children or grandparents to grandchildren, there was no reassessment of property taxes. This meant that the taxable value of the property remained the same as of the date of the original owner's death, whether it was the primary residence or an investment property.
However, Prop. 19, effective from February 16, 2021, introduced changes. Any transfer of inherited property on or after this date will be subject to new rules. For investment properties, the assessor's office will reassess them to fair market value, resulting in increased property taxes. There's an exception for the family home or primary residence, which can be protected from substantial tax increases.<br /><br />How to Protect Your Inherited Property from Tax Increases
To benefit from Prop. 19, there are specific steps to follow:
Move into the Inherited Home: Within one year of the parent's passing, one of the children must move into the home and make it their primary residence. This step is crucial for preserving the taxable value.
Fill Out the Required Forms: Within a year, the child living in the home should fill out either the homeowner's exemption or disabled vet's exemption form, depending on eligibility. Additionally, the intergenerational transfer exclusion claim form should be submitted within three years to secure the benefits of Prop. 19. These forms can be obtained from the local county assessor's office.
Maintain the Primary Residence Status: As long as the child maintains the inherited home as their primary residence, the taxable value remains unchanged. If multiple children inherit the property, only one needs to move in. However, if all children move out, the taxable value may be reassessed at fair market value.
<br /><br />Calculating Taxes on Inherited Property
To illustrate the calculation for property taxes after inheritance, consider the following example:
Taxable Value: $300,000 (including the land and improvements)
Allowance: $1 million (subject to annual adjustments)
If the property value remains at or below $1.3 million, property taxes remain the same. If the value exceeds this amount, taxes will increase.
For instance, if the property value is reassessed at $1.5 million, the difference is $200,000. Adding this to the taxable value results in a new taxable value of $500,000, leading to increased property taxes.
<br /><br />Conclusion
While there is controversy surrounding Prop. 19, it undoubtedly makes it easier for homeowners aged 55 and older in the Bay Area to relocate. As tax laws can change in the future, it's essential to stay informed and seek professional advice if you have questions about Prop. 19. If you're interested in selling and buying a home simultaneously, we offer special programs to simplify the process. Thank you for reading this informative post on Prop. 19. If you have any questions or would like more information, please feel free to reach out to me.2023-10-23T15:48:00-07:002023-12-04T13:46:43-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31064Why Am I Buying a Home? Why Should I Buy a Home?: Your Motivation Matters
Buying a home is a significant decision, one that can shape your life in numerous ways, both positively and negatively. The key to ensuring that your decision to buy a home is a good one is understanding your motivation. In this blog, we'll delve into the most important question you'll face as a homebuyer: Why am I buying a home, and why do I want to buy a home?<br /><br />1. Understanding Your Motivation
People purchase homes for various reasons, and it's crucial to identify your motivation to prioritize your wants and needs. Your ultimate goal is to make an informed and successful home-buying decision.
2. Family and Stability
If you are buying a home to provide stability and security for your family, you must consider factors like the size and space of the home, the quality of the local school district, and the surrounding community. Your decision will be largely driven by the needs of your family.<br /><br />3. Investment and Wealth Building
On the other hand, if you are a single individual seeking a home as an investment or a means to escape the cycle of renting, your decision should be primarily financial. Your home purchase needs to make sound financial sense, considering factors like potential resale value and equity growth.
4. Setting Criteria
Once you've determined your motivation, you need to establish criteria that align with your goals. This step is crucial because it will help you decide if buying a home is the right choice and keep you focused on your priorities to avoid making a hasty decision.<br /><br />5. Wealth-Building Considerations
For those looking to build wealth through real estate, it's essential to recognize that this process takes time. Owning a home offers tax benefits and the freedom to customize your living space. However, if your circumstances change rapidly, like a job transfer or changing needs, you might find yourself at odds with your original wealth-building motivations.
6. Commitment and Expenses
Owning a home is a substantial commitment with associated costs like mortgages, property taxes, and maintenance. Selling a home can also be expensive. It's crucial to be prepared for these financial aspects and ensure you're ready for the commitment of homeownership.<br /><br />7. Real Estate Market Considerations
Building equity through home ownership is a significant advantage, but it's not always guaranteed, depending on the market and property type. It's vital to assess market conditions and property prospects with the help of a trustworthy real estate agent.
8. Seek Expert Guidance
A knowledgeable real estate agent can guide you through the advantages and risks associated with buying a home. However, be cautious, as not all agents have your best interests at heart. Some may try to convince you that buying a home is the best decision, regardless of your circumstances.<br /><br />Conclusion
In conclusion, determining your motivation for buying a home is crucial to ensure that it aligns with your lifestyle and commitment to the area. Additionally, finding an agent who can provide insights into the risks of the homes and the market you are buying in is vital. Your home buying journey should be a well-informed one, leading to a decision that serves your best interests. Stay tuned for our next blog post in this series, <a href="https://www.thebrasilgroup.com/blog/navigating-the-bay-area-real-estate-market-is-now-the-right-time-to-buy/" target="_blank">"Is Now a Good Time to Buy a Home in the Bay Area?"</a> We'll continue to provide valuable insights to help you make the best decisions in your home buying journey.2023-10-23T15:13:00-07:002023-12-04T16:45:50-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:310105 WAYS TO SELL YOUR HOME
As a licensed agent and Realtor, my main role is helping sellers prepare and sell their homes on the Multiple Listing Service (MLS).
However, not all homeowners want to go through a traditional process to sell their homes or have their homes listed on the MLS.
There could be a number of reasons why.
Perhaps they need a fast sale or don’t want to go through the hassle of fixing up the home and having showings and open houses.
Sometimes homeowners are interested in buying a new home that they have identified and want to get their home sold quickly and make sure the deal is secure.
Having worked with hundreds of sellers, I understand that everyone one’s needs are different, and therefore I have tailored my services to accommodate a number of different solutions to fulfill the sellers’ needs.
As a homeowner, whether you need a quick direct sale or want to maximize your property’s sale potential with some updates, I have a solution that can work for you.
5 Ways to Sell Your Home
All-Cash Instant Offer
Trade-In
Quick Listing Process
Full Service
Full Service Plus+
So often determining the right course of action when you sell your home may not be straightforward. There are times when selling your home AS-IS as opposed to spending money and time on updates, is the best course of action.
Helping you assess the benefits and risks of each scenario is what I do as a real estate professional and an expert in the Santa Clara and South Bay real estate market.
To learn more about whether selling as-is or fixing up your home is the right way to go, you should check out my video <a href="https://www.thebrasilgroup.com/blog/should-i-fix-up-my-house-or-sell-it-as-is/">“Should I Fix Up My House or Sell As-Is?”</a>
Let’s first explore all the options available to you when you decide to sell your property.
Perhaps the easiest and most straightforward way to sell your property is with an Instant All-Cash offer.<br /><br />All-Cash Instant Offer
Who would be interested:
Why would someone prefer to take an all-cash offer instead of listing their home on the MLS or market?
Circumstances may be that you need to get your home sold fast, or just don’t see the need to go through all the hassle to sell your home.
This is where an Instant All-Cash Offer would help you get your home sold quickly and get your funds in a matter of days.
How it works:
We will market your home to our network of investors and get you a number of all-cash offers to choose from.
We can get you as many as 3 offers within 48 hours of showing your home.
You’ll skip the hassle of prepping your home, showings, and listing your home and will sell your home in AS-IS condition. You can take what you want and we can arrange for the buyer to dump what’s left over.
Benefits:
Multiple offers from investors who are looking to buy homes they can turn around fix up and sell. Or offers from buyers who are interested in buying a home like yours, who have access to an all cash program that will enable them to secure a cash offer.
All-Cash offers provide flexibility in regards to the condition of the property and can close as quickly as 10 days, meaning that you can get your proceeds from the sale faster.
This program will guarantee you a minimal Free 30-Day Rent Back that allows you to remain in your home for 30 days after your home closes. There is a possibility that we can extend that rent back beyond 30 days.
The downsides of an all-cash offer is that your home will not be exposed to the market and therefore is likely to sell for a price below what it could sell for if listed on the market.
The positive is that your selling costs are lower since you may not have to offer a commission to the buyers agent, and you can get your home sold quickly without all the hassle of putting it on the market.
All Commissions and Fees can vary and will depend on Home’s Value and Price. For more clarification and to get an accurate breakdown please call for a home consultation.
<img src="https://assets.site-static.com/userfiles/1078/image/handshake-the-real-estate-agent-explains-the-busi-2022-11-09-16-52-48-utc-2.jpg" width="1137" height="758" />
<br /><br />
Trade-In
Who would be interested:
The trade in program is specifically designed for those buyers who have found the home that they want to buy but need to sell their home first.
Homeowners who find themselves in this predicament generally do have the time to get their home sold quickly enough to buy their new home.
Benefits of Trade-In:
This method is similar to the All-Cash Instant offer, but with a trade-in you can remain in your current home for up to 60 days while you close and wait to move into your new home.
Unlike the Instant All Cash offer, you can still benefit from the sale even after you have sold it.
This program removes the stress of having to sell your existing home before finding a new home. In this scenario, we will get you a guaranteed all-cash offer on your home at a price that you would know in advance.
After you close escrow on your new home, we will list your home on the market, and if your home sells for more than what you were originally offered you get the difference.
You will benefit from top-tier marketing of your home and full exposure to the MLS, bringing in more buyers and a higher price than you would if you took an instant all-cash offer.
Quick Listing Process
Quick Listing Process – is designed to get your home on the market quickly and save you on selling fees and commissions.
Who would be interested: You want to get a great price when you sell your home and are willing to put in some work and effort.
Your home is already in good condition and may just need some simple sprucing up such as painting, staging, and yard work.
Benefits:
You will benefit from top-tier marketing of your home and full exposure to the MLS, bringing in more buyers and a higher price.
Work with Santa Clara’s top listing agent, but save thousands in reduced selling costs.
<img src="https://assets.site-static.com/userfiles/1078/image/Screenshot_2023-10-25_at_2.55.28_PM.png" width="1207" height="421" />
Includes:
Professional Home Value Assessment and Pricing by Santa Clara’s #1 Agent
Complimentary Professional Staging
Use of our In-house Design Services – latest trends and colors to have your home looking great
Project management to coordinate all updates
Upfront Cost covered until Close of Escrow
Access to our Preferred Contractors and Vendors
Coordinate Inspections
Marketing:
4K HDR Photo Package
3D Matterport Tour
Weekly Update Calls
MLS Marketing & Listing Syndication to 100’s of Top Real Estate Portals
Email Marketing Blitz
Property Website
Open Houses
Broker Tour
Offer Presentation
As Low as 1.5% Commission*
<br /><br />
Full Service: “Renovate Now, Pay Later”- Our Complete Selling Solution
Who would be interested: You want to get a great price when you sell your home and are willing to put in some work and effort.
Your home is in good condition, but it needs some work. Perhaps new flooring, some updates to the kitchen and bathrooms. Maybe there is quite a bit of deferred maintenance that needs to be addressed before the home is listed.
Whatever it is, we will take care of it.
Benefits:
You will benefit from top-tier marketing of your home and full exposure to the MLS, bringing in more buyers and a higher price.
Work with Santa Clara’s top listing agent, but save thousands in reduced selling costs.
Includes:
Professional Home Value Assessment and Pricing by Santa Clara’s #1 Agent
Complimentary Professional Staging
Use of our Inhouse Design Services – latest trends to have your home looking like a showpiece
Project management to coordinate all updates
Upfront Cost covered until Close of Escrow Up to $25K
Access to our Preferred Contractors and Vendors
Coordinate Inspections
4K HDR Photo Package
Drone Photography
Video Tour
3D Matterport Tour
Coordinate Inspections
Direct Disclosure Review with Lead Principal Agent
Weekly Update Calls or Emails
MLS Marketing
Email Marketing Blitz
Property Website
Coordinate Repairs and Updates up to $25K
Pay costs through escrow
Full Professional Staging Service of All Rooms
Offer Presentation
Commission As Low as 1.5%*
<br /><br />Full Service Plus+: “Renovate Now, Pay Later"—Our Complete Selling Solution
Who would be interested:
Sometimes it makes sense to do substantial updates to a home to make it stand out and get maximum return.
Depending on your home and the market, remodeling the kitchen and bathrooms, installing a new roof, or opening up a wall can really add value and make your home stand out.
These updates have to be carefully planned and executed. If done correctly they can result in massive gains when you sell. If not, they could result in lost time and opportunities, and ultimately end up costing you more.
If your home has potential and you’re willing to invest the time and money, Full Service Plus+ might be the right way to sell your home.
Includes:
Professional Home Value Assessment and Pricing by Santa Clara’s #1 Agent
Complimentary Professional Staging
Use of our In-house Design Services – latest trends to have your home looking great
Project management to coordinate all updates
Upfront Cost covered until Close of Escrow Up to $75K
Access to our Preferred Contractors and Vendors
Coordinate Inspections<br />
4K HDR Photo Package
Drone Photography
Video Tour
3D Matterport Tour
Coordinate Inspections
Direct Disclosure Review with Lead Principal Agent
Weekly Update Calls or Emails
MLS Marketing
Email Marketing Blitz
Property Website
Pay costs through escrow
Full Professional Staging Service of All Rooms
Offer Presentation
Commission As Low as 1.5%*
Coordinate Repairs and Updates above $25K
Benefits:
Work with Santa Clara’s top listing agent, who will advise you on the best course of action to take minimizing your risk and maximizing your profit.<br /><br />
Conclusion
When faced with the need to sell a home it’s important to have different options which can provide you the right solution to get your home sold.
Whether you need to sell your property quickly, buy a new home, or want to maximize your home’s sale, the Brasil Group provides several solutions that fit your needs.
Part of my initial consultation with a homeowner is identifying the right solution and the associated costs, risks, and benefits so that they can decide what is the best course of action for them.
If you need to get your home sold, please schedule a consultation to discuss your needs and learn more about the different options available to sell your home.
2023-10-23T14:37:00-07:002023-12-08T14:38:36-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31008HOW TO BUY AND SELL A HOME AT THE SAME TIME
Are you looking to move to your next home, but are not sure how to navigate the process of buying and selling at the same time? You’re not alone!
Many homeowners face this challenge, but with the right strategy and guidance, it can be done. In this blog post, we’ll explore the options available to move-up buyers and provide tips on how to make the process as seamless as possible.
From timing your transactions to assessing your financing options, we’ll cover everything you need to know to successfully buy and sell a home at the same time.
<br /><br />Buying and Selling- What are Your Options?
If you’re a homeowner who has been thinking about upgrading or downsizing, the prospect of navigating the buying and selling process can be daunting.
Whether you’re wondering if it’s best to buy or sell first, or concerned about the cost and risks of owning two homes and having two mortgages at the same time, it’s understandable that you may have questions. Additionally, in a challenging market, you may be worried about the possibility of owning no home at all.
The good news is, with the right strategy and guidance, it is possible to successfully move to your next home. In this blog post, we’ll explore the options available to homeowners looking to move and provide tips on how to make the process as seamless as possible.
<img src="https://assets.site-static.com/userfiles/1078/image/buying-a-home-1024x768.jpg" width="1024" height="768" />
Typically, there are two main strategies homeowners use when making this change: they either buy a new home before selling their existing one or sell their current home and move into a rental or temporary residence until they find a new home. These options can come with their own set of risks and inconveniences.
Thankfully there is another solution available that can help mitigate some of these concerns. In this blog post, we’ll delve into the traditional strategies of buying and selling a home simultaneously, and then explore a third option that can provide a more streamlined and less risky experience for homeowners. <br /><br />Option 1: Buying a Home Before You Sell Your Existing Home
Buying a new home before you sell your old one is the trickier of the two methods. While it’s not impossible, it does require more financial finagling. However, in some cases what prompts you to even consider moving is that you find your dream home early on in your search. If this happens to you, here are your options:
Use a Home Sale Contingency
The easiest way to deal with this scenario is by including a home sale contingency in any offer that you make. This contingency is part of your offer to buy your new home, which allows you a set period of time to find a buyer for your old home before you close escrow on your new home. If you can’t find a buyer in time, you may have the option to try to extend the contingency or to back out of the deal.
If this option sounds too good to be true it’s because, for the most part, it is. Home sale contingencies are not widely accepted by sellers or listing agents. Sellers don’t like them because they offer little-to-no reassurance that the buyer will actually be able to purchase the home. Also because of the fast-paced nature of bay area real estate markets, the feasibility of this strategy is limited to slow markets, or overpriced or less desirable homes that are sitting on the market.
You are free to include this contingency in any offers you make, but be aware that it negatively impacts the strength of your offer. In many cases, the seller may expect a higher price from a contingent sale offer. Seller’s are more likely to accept this type of offer if their home has been sitting on the market for a long duration or they like the price you are offering and are not in a hurry.
Most importantly for this strategy to work, the sellers must be confident that you will be able to pull off the sale of your home. Therefore the way it is presented to their agent must be done in such a way that it conveys the confidence that your home will sell.
The pros of this strategy are that there is very little risk to the buyer. If you are not able to sell your home and the purchase deal falls through, you might be out some fees for inspections or an appraiser and lost time and energy, but that is about it.
The cons are that it’s rare that you will be able to convince the seller to accept your offer, and therefore you might lose your dream home to a better offer.
Get a Bridge Loan or Home Equity Line
A bridge loan is another option to help you deal with the financial strain of buying a new house before you sell your old one. Bridge loans are short-term loans that allow you to pay off the mortgage on your own home so you don’t have to carry that cost. Then, when your home sells, you’d use the proceeds from the sale to pay off the bridge loans.
In order for this option to work, you have to have a considerable amount of equity in your existing home, and meet the lenders requirements to be able to purchase the new home.
That being said, bridge loans are a gamble. These loans often come with strict terms and high-interest rates. In order for a bridge loan to work, both transactions need to be completed. If there is a problem with the sale of your existing home, you’ll still be responsible for finding the funds to pay back the bridge loan on time.
A home equity line of credit (HELOC) assumes that you have enough equity in your existing home to be able to qualify for your new property. The downside with this strategy is that it takes time to set up and open HELOC and you may not have that much time to make an offer on that dream home.
In order for this strategy to work, you have to prepare in advance and have the HELOC approved. Also, lenders will not approve a HELOC on your home if you are selling it. So you will need to open up the HELOC before your home goes on the market.
Assuming your HELOC is approved, you then make the offer on your new home, without a contingency to sell your existing home, and once your offer is accepted you draw the funds from your HELOC for the purchase of your new home. At this point, you can list your existing home to be sold.
There are a lot of what if’s in these two scenarios, such as having enough equity in your home, and being able to qualify for the new home. Here are the pros and cons of these strategies.
Pros: Being in a position to make a clean offer without a sale contingency clause, therefore vastly improving the quality and strength of your offer.
Cons: The risk associated with these scenarios are the typical risk you assume when you buy before you sell. If your existing home doesn’t sell or has a hard time selling then financially you may place yourself in a difficult situation.
Had you counted on your home selling at a certain price and if it falls short of that price you may need to dip into other accounts, take out a higher loan, or sell other assets to make up the shortfall.
The key here to limiting your risk is working with an agent who understands your home and your home’s market, and can give you an accurate assessment of the value, sales costs, and additional costs you might incur such as capital gains.
In either case your first steps are to always speak with a Realtor who is knowledgeable, they will help you understand the market and your home’s value. Ultimately a local real estate expert should be consulted to help you determine the best plan to achieve your objective.<br /><br />Option 2: Selling Your Existing Home Before Buying a New One
This option allows you to submit offers on new homes without having to worry about using a home sale contingency or taking out a new loan.
Selling your old home before you buy a new one can be a more financially secure option. This way, you’ll know exactly how much money you have to spend on a new property. However, this method is not without its inconveniences and risks. As an example, you may have to deal with the stress of moving twice within a short period of time.
Here are the different strategies you can use to buy a new home after you have sold your existing home.
Renting Back your Previous Home
A rent-back is exactly what it sounds like. You rent your home back from the buyer who is now the new owner. In our market, it’s not uncommon for a seller to request a rentback and buyers generally accommodate.
A 30-day rent back for a seller from the close of escrow date can be typical of a transaction. Once the home closes escrow, the seller can stay up to 30 days. These rentback scenarios need to be negotiated upfront when you accept the buyer’s offer. Its very common for the buyer to throw in a free rentback with their offer, and request a security deposit to be held in escrow.
Although convenient, 30 days is hardly enough time for the seller of the home to find a new home, close escrow, and then move into that home. The challenge here is that most rentbacks can not extend beyond 60 days. There is a provision for the buyer’s loan that they need to move into the home within 60 days in order for the home to be considered a primary residence. Also, buyers generally want to move into their home soon so anything beyond a 30-day rentback may not work for all buyers.
If you are able to negotiate a 60-day rentback, it does give you some time to find a new home and close, but depending on the market that still may not be enough time. Especially if your new home requires updating before you move in.
Pros: Financially more secure since you know what your existing home sold for. Ability to make clean and non-contingent offers while shopping for your new home. If found quickly you can complete just one move directly to your new home from your old home.
Cons: May not be enough time to find a new home, close escrow, and move into your new home. Depending on the market prices could be climbing fast making your new home more expensive than you planned.
Finding a Short-term Rental before You Buy Your Home
Moving into a short-term rental means moving twice, but provides you the time to find the right home.
One of the challenges that sellers face in this scenario is finding the right rental. People who have pets may find it hard to find a rental that works for their family. Another issue is short-term rentals in our market are not very common, you may find yourself having to sign a year lease that you may have to break.
With any option where you sell first before buying, this can become risky in a heated real estate market where prices are appreciating rapidly. After you sell you may find yourself in a position of having to buy a home immediately and compromising on the very aspects that motivated you to move in the first place.
Pros: You will have more time to find the right home. Ability to make cleaner and more competitive offers that sellers will consider.
Cons: Moving two times instead of one. Could be challenging to find the right rental that works for you and your family. The risk of the market appreciating while you are home shopping, and pricing you out of the home you were hoping to be able to afford.
As you can see neither of these options is ideal, and each carries a significant amount of risk. This is why many people just stay in their existing homes or try to remodel.
<br /><br />Other Options:
Now there are other solutions out there that offer more convenience and are less risky.
These solutions allow you to buy the new home without taking out a HELOC or bridge loan, and offer you the convenience of shopping for your new home while you are still living in your existing home.
Let me explain how these options work so you can understand the pros and cons.
Getting a Direct Cash Offer on Your Home:
This is the simplest solution that will allow you to sell your home right before you purchase your new home, releasing the proceeds from your home to be used as a down payment on your new home.
The sale would be timed after your offer to buy your new home has been accepted. Also, this option clears any loan you had from your previous loan enabling you to maximize your purchasing power.
This option will also provide you with the option to remain in the home you just sold for up to 30 days after the close of escrow so that you can move directly into your new home.
Prior to buying your new home, we will have your home appraised and estimate its current market value. We will need to have an inspection done on the home to make sure there are no major defects and to assess the condition and costs involved in repairing the home.
Once the property’s market value has been assessed you will be eligible for a direct cash offer. A direct cash offer will be around 10-15% less than the market value. One of the advantages of a direct cash offer is you will not need to pay any commissions but will be responsible for the title and escrow fees when you close which can be around .5%.
The pros of this option are it’s simple and has very little risk. You can close escrow quickly in 8 days or less. You will be able to remain in the home which you have just sold for 30 days after closing to allow you to move into your new home.
Also, you will have the freedom to use any lender for your new purchase. You’ll save costs without having to pay commissions and don’t need to go through the costs and process of repairing, updating, and staging your home to sell it.
Lastly, you will avoid the traditional sales process which can involve weeks of showings, open houses, and potentially risky escrows.
The downside is you sell your home without it going to market, and could potentially be receiving a lower offer than what you could have received if you listed the home.
<img src="https://assets.site-static.com/userfiles/1078/image/handshake-the-real-estate-agent-explains-the-busi-2022-11-09-16-52-48-utc-2.jpg" width="6240" height="4160" />
Trade-In with Sale Price Guarantee:
Similar to the option above, but instead of selling before you purchase your new home you use a special lender that will finance your purchase as if you sold.
The lender will approve you based on your equity in your new home, and use an estimated appraised value of your existing home. This is the price that you are guaranteed to receive for your home. You will still need to pay agent commissions and closing costs.
This option will allow you to make an offer on the new home without any contingencies and can close as early as 8 days (expedited closes faster than 21 days have a 1.5% fee).
Once you have closed on your new home you will need to have your existing home listed on the market within 10 days. The benefit of this program is that you receive the entire proceeds based on what your home sells for.
This program stipulates that you must sell within 90 days. If you do not sell within 90 days, you will receive the guaranteed price minus any costs (fees, closing costs, home prep fees, inspections, and realtor commissions, etc.).
Pros: Again you will be able to make a non-contingent offer on your new home and remain in your existing home, so you would only need to move once. You will have a guaranteed price for your home, and an opportunity to sell your home at market value.
Cons: In order to take advantage of this program you are required to use the program’s lenders. Your loan qualification will be based on the guaranteed offer price and may limit your purchasing power toward your new home. You will be paying two mortgages while you continue to own your original home. The fee to use this program is 1.2% of your home’s value.<br /><br />Conclusion:
The process of moving to a new home and selling your existing home has never been easy.
The traditional ways of buying and selling a home burden the homeowner with varying degrees of risk and inconvenience.
These new solutions attempt to solve these inherent issues and make it easier for the homeowner to move.
The key to any homeowner faced with this challenge of moving and selling a home is to talk to a professional realtor in their local market. An agent who has an in-depth knowledge of your market, and the experience and knowledge of the different options and programs available will be able to help you explore the solution that would best suit your needs.
If you are considering moving, and are faced with this challenge, please contact me to set up a free consultation to discuss your situation and what options are available to you.2023-10-23T13:48:00-07:002023-12-06T16:23:36-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:31002TOP QUESTIONS TO ASK A REAL ESTATE AGENT WHEN SELLING
You may think real estate agents are pretty much the same and that there is very little difference between agents.
When you hire a real estate agent to sell your home, you’re bringing another person into your life, your finances, and your home for weeks at a time. It’s important to make sure you choose the right one.
Before you go with just any real estate agent, here are some important questions to consider in order to select the right agent.<br /><br />
Top Questions to Ask a Real Estate Agent When You are Selling
A great real estate agent is more than just a salesperson. A great real estate agent acts like your business partner, they are invested in your success and ultimately become a trusted advisor looking out for your best interests.
The difference between just any agent and the right agent is getting the advice and strategy that will get your home sold for the best price and make sure you don’t make any costly mistakes.
A great real estate agent will recommend necessary design changes, remodeling, and staging to maximize your home’s value and sale.
A great agent will have a deep understanding of the market and advise you on the right timing. They will listen to what you are trying to accomplish and make sure you know all your options and consider all aspects before you sell your home.
Throughout the process of selling, you will likely speak with your agent every day and when offers start to come in, you’ll speak with them several times a day. That’s why it’s important to hire an amazing real estate agent who you trust and know you’ll get along with well.
Make sure to interview several agents before deciding upon one.
Take this checklist to meetings and then hire the best agent you feel you can work with and who has your complete confidence that they can get the job done.
1. Can You Pass Along a List of References?
Great agents are busy and they are working on multiple home sales. They are in the process of opening, servicing, and closing sales at all times. Be sure to ask you agent for references to the last 5 listings they have closed. You will want to ensure that these references were pleased with the service and results and any feedback they can give you.
2. Can You Provide the Details of Your Last 12 Months’ Sales?
It’s easy for an agent to generate a spreadsheet of their last sales from the Multiple Listing Service or MLS. The spreadsheet should include the property address, list date, list price, sales price, and days on market (DOM).
If possible you will want to request this in advance of your meeting so you can go over any questions you may have.
From this information, you will be able to determine if the agent is able to price their listings effectively, sell them within a reasonable amount of time, and also see the amount of volume they are doing within a certain period of time.
If the agent’s sales are below the list price and taking weeks to sell that may indicate he is overpricing his listings and likely giving you a higher price estimate than what your home will sell for.
I always provide a spreadsheet of our last 12 months of sales to our prospective listing clients. To access a list of my recently sold homes please visit, <a href="https://www.thebrasilgroup.com/property-search/results/?searchtype=2&searchid=1046308#view_list/listtypedescrip_Condominium%2CSingle%20Family%20Home%2CTownhouse/">Recently Sold Homes</a>.
3. How Many Homes Have You Sold in My Neighborhood?
Based on the information you received from the sales spreadsheet, you should know how many homes your agent is selling and how many they have sold in your area.
In Santa Clara, neighborhoods and tracts can differ greatly in terms of the types and quality of the homes they offer, the school’s boundaries, and their overall desirability.
To sell a home for a great price, you have to understand your home and how it compares to the market.
Agents who are active in your area will know your home’s advantages and disadvantages and know how to appropriately market and price your home.
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4. How Long Have You Been a Real Estate Agent?
Experience isn’t everything, but in order to be an expert in your field, you need enough experience. How much is enough experience? Is it 5, 10, or 20 years?
If you have been in the industry and actively selling homes for 5-10 years you likely have enough experience to be an expert. But you’ll want to make sure that the agent you work with has lots of experience listing and selling homes.
You will want to be cautious of new agents who haven’t listed many homes. The less experienced the agent the more you open yourself to risk and mistakes.
Mistakes can be in the form of failing to disclose important details that can leave you open to a lawsuit to not having a reliable team of professionals to help prepare the home. I see many new agents not understanding the market or how to negotiate effectively to obtain a strong price.
The same can be said of seasoned agents who have been in real estate for 20 years or more. Seasoned agents run the risk of being outdated and not adopting the latest trends and technology in the industry.
You’ll want to hire an agent with enough experience who is current with recent trends in the market and incorporates the latest tools and technologies to get homes sold.
5. Are You a Part-Time or Full-Time Agent?
If the agent you are considering is not a full-time real estate agent, don’t waste your time.
Our local Santa Clara real estate market is too demanding for part-time agents to adequately service their listings and clients.
Listing a Santa Clara home in today’s market requires lots of time to prepare the listing, and communicate with clients, prospective buyers, and agents.
You’ll need to be available to effectively get the home sold for top value.
<br /><br />
6. How Many Sellers Are You Currently Representing?
Great agents are in high demand, and are likely very busy, especially during the top selling season. There is such a thing as being too busy in real estate, and being too busy will result in poor service and results.
So how much is too busy in Santa Clara real estate?
There are agents in different markets around the United States that will sell 200 homes in a year, but those markets are vastly different than Santa Clara.
Homes in Santa Clara typically sell quickly usually within 7-10 days with lots of demand. If you have too many active listings at one time it will make it difficult for an agent to keep up with the communication and be able to negotiate multiple offers.
As a rule of thumb, I would think that more than 4 or 5 active listings at one time would be too much for an agent to handle. This will of course depend on the agent and their team, but as a seller, it’s something to be mindful of when picking the right agent.
7. What’s the Ratio Between Buyers and Sellers You Represent?
The vast majority of agents are buyer’s agents. That means that a typical real estate agent will represent mainly buyers who are looking to purchase a home. In many cases, a typical agent may only list one or just a few homes a year.
Listing agents need to be experienced in listing and selling homes. If the agent’s sales history shows far more experience on the buying side than on the selling, the agent may not have enough experience and understanding of the current market.
There are other advantages to working with agents who primarily work with sellers.
Working with an agent who primarily lists homes means working with an agent who is not only experienced, but has structured their business to work with sellers. They will have all the important contacts and resources readily available to sell your home.
An active listing agent will be able to get your home in tip-top selling shape faster and more efficiently than an agent who only does a few listings a year.
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8. Will I Be Working With You Directly or a Team?
As I mentioned earlier, listing and selling a home in Santa Clara can require a lot of preparation and planning. Having a team can help things go smoother and get things done faster.
However, having a team is not always efficient especially regarding communication. If every time you call to get a hold of your agent you have to be routed through several people this can be annoying.
You need one point of contact that has intimate knowledge of your home, and that is the person you hired, your listing agent. You don’t want to be sold on the neighborhood expert only to be working with their newly hired apprentice.
You should be dealing directly with the agent you interviewed at all times and have a direct number where you can reach them.
All my listing clients have my direct cell phone number, and deal directly with me throughout the listing period until their home sells.
9. How Do You Plan to Market the Home?
One of the biggest factors that set an agent apart from other agents is their marketing plan.
A great real estate agent should know your market, and their marketing plan should be tailored for the market, your home, and your goals.
During your meeting, your objectives and goals should be clear.
With your objectives in mind, your agent should present a comprehensive marketing plan to sell your home, and achieve your desired outcome.
A comprehensive marketing plan will take into account the strategy and include how to get the home ready, what repairs or improvements should be made; staging, professional photography, videos, and 3D tours.
Also what advertising channels and websites will your home be featured on to ensure maximum exposure.
How are open houses conducted and who will be there? These are all important details you’ll want to make sure the agent you are interviewing covers in their presentation.
For a comprehensive list of services, we offer please view our <a href="https://replug.link/ourservices-sc">Services Booklet</a>.
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10. Do You Have Professional Trades People in Your Network?
Experienced listing agents should have a team of reputable and reliable tradespeople such as a handyman, contractor, stager, house cleaners, window cleaners, moving companies, inspectors, a title company, landscapers, etc.
There are many aspects involved in selling a home in our local market. One of the roles an agent can assume is a project manager and leverage their resources to get your home ready quickly and without a hassle and save you thousands in the process.
We have a comprehensive list of professional tradespeople that we have been using for years. Our partners understand our commitment to our clients and expectations of quality.
As part of our <a href="https://www.santaclararealestateguy.com/selling-your-home-santa-clara/">Complete Selling Solution</a>, we act as the project manager and handle all the aspects of getting your home ready and on the market. We can even defer the costs until the close of escrow.
11. Do You Offer Staging As Part of Your Services?
If you watch HGTV you know that staging is a vital marketing tool for getting a home sold quickly and for a high value.
So much of the home buying decision is done through feeling and emotion. When buyers enter a home, if they have a positive feeling about the home there is a good chance they will be interested buyers.
Staging helps create that positive feeling for home buyers. For more information about how staging can sell your home for top value check out our post <a href="https://www.thebrasilgroup.com/blog/should-i-stage-my-home-to-sell/">How to Stage a Home to Sell.</a>
If your objective is to sell for top value, the agent you work with should understand the importance of staging and have a great staging professional in their network.
Keep in mind that not all staging is equal. A home’s staging should compliment the home, and make it feel bright, and stylish while optimally defining the home’s spaces and their use.
A well-staged home adds value to rooms and space, and a poorly-staged home can make rooms feel unusable or unimportant.
Staging is such a vital component of our marketing, that we have invested in an in-house staging department that handles the staging for all of our listings. This enables us to have the flexibility to stage homes when we need to and control the quality and end result of our listings.
Our staging is some of the best available and makes our listings stand out. Also, our staging is completely free and at no cost to our listing clients.
For more information about our staging philosophy and to see examples of our staging, you can visit our <a href="https://www.thebrasilgroup.com/blog/complimentary-home-staging/" target="_blank">home staging page</a>.
<br /><br />
12. How did you pick the Comparables for Your Market Analysis?
You should expect every agent you meet with to present you with a CMA, or comparative market analysis of your home.
This is what you and the agent will review when discussing your home’s value and what they believe your home will eventually sell for.
It’s likely that every agent you interview will have a different perception of value and use different comps (comparables). It’s important to understand what comps the agents used and how they reached their valuation of your home.
This will help you understand how well the agent knows your home, your home’s area, and how they justify the price they think your home will sell for.
13. How Do Your Realtor Fees Work?
No one likes the idea of writing a blank check, especially for selling your home.
One of the most important components of selling your home, is the transaction costs or commission charged.
Real estate commissions are not regulated, and therefore there is no standard commission. Agents can charge whatever the feel is reasonable.
While discussing the agent’s commission rate its important to understand what services are included and what additional costs there may be.
Is staging included or is it in addition to the commission? Who will pay for the inspections? Will there be additional costs such as transactional fees? Who will pay for the photography and virtual tour?
When factoring our fees or commissions to our listing clients, we take into account a number of factors. We look at the home’s value, the work required to satisfy our client’s objective, and ultimately provide the most competitive commission we can offer.
Our listing side commission will vary depending on these factors.
For more details about how real estate commissions work please see our post titled <a href="https://www.santaclararealestateguy.com/real-estate-commissions/">Real Estate Commissions</a>.
For more information about how we determine our listing commissions, visit our page <a href="https://www.santaclararealestateguy.com/commissions-at-the-brasil-group/">Commissions at the Brasil Group</a>.
Conclusion:
There are a lot of factors when considering a real estate professional to sell your home.
I hope that the information above helped explain the importance of those factors and what to look for when interviewing agents.
If you have any questions or comments about the article please leave a comment below.
If you have more specific questions about our services or want to talk about selling your home please contact me directly or <a href="https://tidycal.com/vbrasil/real-estate-consultation" target="_blank" rel="noopener">schedule an appointment.</a>
2023-10-23T12:46:00-07:002023-10-25T13:48:37-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:22680The Ultimate Guide on Choosing a Santa Clara Home That’s Best for You<img src="https://assets.site-static.com/userfiles/1078/image/Row-of-brick-townhouses.jpg" width="2000" height="1333" />
The Ultimate Guide on Choosing a Santa Clara Home That’s Best for You
Almost <a href="https://www.ppic.org/publication/californias-population/">40 million people live</a> in California. From the beautiful coastline and dramatic landscapes to the proximity of some of the biggest cities in the country and everything in between, buying a home in California is a decision that you won't regret.
If you've been thinking about moving to California, you may want to start looking into getting a Santa Clara home. There are so many reasons to move to Santa Clara.
But where do you start? How do you go about buying a home in California? How will you know if it is the perfect home for you?
In this guide, we'll walk you through everything you should know before buying real estate in California. We'll also discuss why Santa Clara is one of your best options for buying a home! Let's dive in.
<br /><br />Why Move to Santa Clara?
There are so many reasons to move to Santa Clara, California! It's a beautiful city that is constantly growing and expanding, so you know opportunities will also continue to grow. There are many reasons to move to Santa Clara, though.
Let's go through some of them!
Proximity to the Big City
Located only 45 miles south of San Francisco, Santa Clara has it all. You can spend all the time you want in the city itself, or you can always head to San Francisco in a little less than an hour!
This will give you endless things to do in and around Santa Clara, especially if guests visit you at any point during the year!
Perfect Weather
Santa Clara not only has its location going for it, but it also has the perfect weather.
You can expect to have hot and dry summers as well as mild and cool winters. You'll see temperatures fluctuate from about 60 degrees to 80 degrees in the summer and 40 degrees to 60 degrees in the winter.
While it does rain during the winter months, it never snows, so you don't have to worry about that!
<a href="https://weather.com/weather/tenday/l/Santa+Clara+CA?canonicalCityId=bf2c6bcebb55ec0cfc160ec23a861ed6245ecd32baa02552b65257ba022c3c8d">Santa Clara</a> truly has weather that shoots straight down the middle - nothing too extreme on either side!
Great Opportunities
Because Santa Clara is in the heart of Silicon Valley, there are so many opportunities that will always be at your fingertips. If you ever experience losing your job or are moving here to find one, you won't be looking for too long.
Your opportunities range from having some of the best start-up companies as well as world-class tech companies. Some you've probably heard of are:
Intel
Oracle
Infoblox
Texas Instruments
These are just a few of the many well-known companies in Santa Clara!
And if you are willing to travel a bit in Silicon Valley, you have Apple, Netflix, Google, and Facebook at your fingertips as well.
Sports Galore
The Santa Clara area is known for its sports.
The 49ers actually play in Santa Clara at Levi's Stadium - and trust us, it gets quite busy down there during football season. You'll never want to miss a game if you move here - it just becomes part of the culture.
If football isn't your favorite thing, the San Jose Sharks hockey team plays at the SAP Center, which isn't too far from Santa Clara either!
Things to Do
As if this were not enough reasons to move to Santa Clara, there is so much to do here! You'll never be bored and always have something to do - whether it's a weeknight or a weekend day!
Be sure to check out:
<a href="http://www.ulistac.org/what-can-i-do-at-ulistac">Ulistac Natural Area</a>
Central Park in Santa Clara
Museum of Art
Intel Corp and Museum
Santa Clara Square
Not to mention, you're also right next to wine country. You may think we're talking about Napa Valley or Sonoma County and think that the geography isn't matching up. And you'd be right.
However, Santa Clara has its own wine country that deserves a visit (or two or two hundred!). Be sure to check out these favorites:
Coterie Winery
Picchetti Winery
There's something here for everyone - adults and kids alike!
<br /><br />The Best Neighborhoods in Santa Clara
Now that you know <a href="https://visitsantaclara.wordpress.com/2014/05/14/49-awesome-things-to-do-in-santa-clara/">Santa Clara</a> is worth the move, where do you go when you get here? Which neighborhoods are the best? These are our top picks.
Central Santa Clara
Central Santa Clara has its name for a reason - it is in the heart of Santa Clara, which means it is within walking distance of many of Santa Clara's top attractions.
So what stands out about this neighborhood?
Central Santa Clara is family-friendly and well-maintained
Safe area
Growing population in the neighborhood
Many school-aged children with popular schools in the area
If you choose to <a href="https://www.thebrasilgroup.com/property-search/results/?searchtype=3">move to this area</a>, you can expect to spend anywhere from $600,000 to $1.6 million for your perfect home.
A few things to do and see around the area are:
Santa Clara Central Park
Santa Clara City Library
Saratoga Creek Trail
Santa Clara University
Oakmead
If you don't want to be in the heart of the city, Oakmead may be where you want to check out. This neighborhood is about four miles outside of downtown, so you get a mix of urban and suburban feel in this area.
The average age of this neighborhood tends to be on the more professional side, over 45 years old. The neighborhood is mostly established by professionals and families.
While it tends to cater toward professionals, there are many family-friendly things to do in the area, such as:
Visiting some of the local coffee shops
Shopping around at some of the retail shops and boutiques
Take a stroll or go on a bike ride on one of the many trails in the area
Bring your fluffy friend to one of the dog parks in the neighborhood
Check out the Santa Clara Square Marketplace for some of the best restaurants in the area
Rivermark
Rivermark is popular due to its location and accessibility to most places around the city. It tends to be more popular among young professionals and new families.
For housing, you typically would find single-family homes, apartments, condos, and townhouses.
If you move here, you may find yourself heading to Stan's Donut Shop to grab a donut on the weekends or Armadillo Willy's BBQ for some of the best brisket around!
If you move with a kiddo, be sure to check out Thiamin Park for some green space.
<br /><br />What to Know Before Purchasing a Home in California
Now that you are probably really excited to <a href="https://www.thebrasilgroup.com/buyers/">start looking at properties</a> in Santa Clara, there are a few things you need to know before you jump right in.
There are some rules that California has regarding real estate that many other states don't have. Here are the top laws and factors to be aware of when moving to California.
Mello-Roos Taxes
<a href="https://www.investopedia.com/terms/m/melloroos.asp">Mello-Roos Taxes</a> only affect homeowners with a property in the district. However, these taxes are important to be made aware of so you know that you will be paying a bit more in terms of taxes if you live in these areas. These taxes fund parks, infrastructure, facilities, and public services that raising local taxes couldn't do when forbidden in the 1970s.
Be sure to ask your real estate agent if your house is in the area affected by these taxes.
Real Estate Lawyers
California does not require that a lawyer be present during the closing. However, it is a good idea to make sure that you have a real estate lawyer so that they can ask the right questions and help you understand the process if this is your first time buying a home.
Dual Agent
Most states do not allow real estate agents to represent the buyer and the seller in a transaction. However, California does allow this.
As a buyer (and a seller), both parties have to approve this before the agent can become a dual agent in the process.
<br /><br />Now that you know everything there is to know about investing in real estate in California, what are the steps to get started? Let's take a look!
1. Have Enough Cash for a Down Payment
The first thing you will need to do to secure your home's purchase is to pay the down payment at closing.
Typically, a down payment is 20% of the cost of the home. If your home is $500,000, you will be required to pay $100,000 at the closing time. The rest will be paid by your <a href="https://www.thebrasilgroup.com/blog/should-i-get-an-adjustable-rate-mortgage-to-buy-a-home-in-santa-clara/">mortgage lender</a> in the moment.
If this is not possible for you, there are other options. You can sometimes pay a much smaller down payment if you have a specific loan type. If you do go that route, you will have a higher monthly payment, though, so there are pros and cons to weigh.
However, if you do need help with a down payment for the home, California does have down payment assistance programs that you can look into.
2. Get a Real Estate Agent
A real estate agent will help find and show you properties that you may come to love. They know what you want and help you find it.
Before you choose an agent, be sure to do a bit of research and determine the type of agent you want to work with. The most important thing is that you get along with them and feel comfortable!
3. Get Pre-approval for the Mortgage
Before you go to buy a home, you have to know that a bank is backing you with loaning you money for the mortgage. This is who you will be paying monthly.
Getting pre-approved for a home means that the bank is financially backing you because you are qualified to make an offer on a home.
If you are serious about buying a house, it is best to get pre-approved before starting the looking process since many sellers won't waste their time if you don't have the pre-approval yet.
4. Choose Your Location
Now for the fun part! Once you get your ducks all in a row, you can start to decide where you want to move in Santa Clara! You can choose one of our top picks for neighborhoods in the area in this guide or look elsewhere!
5. Go House Hunting
Once you have a real estate agent and know the area you want to go, you can start looking! Be sure to tell your real estate agent what you are looking for in terms of the following, so they can guide you to the best of their ability:
Bedrooms
Bathrooms
Square footage
Price range
Amenities
Anything else you feel is important for your home
6. Make an Offer on the Perfect Home
If you like a home, it's best to make an offer since they go so quickly in California! You can work with your real estate agent to decide what offer to make <a href="https://www.thebrasilgroup.com/buyers/hows-the-market/">based on the market</a>.
Once your offer is accepted, the fun of home inspections and appraisals begins! But after that, you can move in, and the home is officially yours! Congrats!!
<br /><br />Finding the Perfect Santa Clara Home
If you've been thinking about moving to California, there is no better place to move to than Santa Clara. With perfect weather, so many things to do, and an amazing location, you'll love your new home!
Now that you know what to expect when moving to California, as well as some of the best neighborhoods to move to in the area, you can start your search!
By following these steps, you will have the perfect Santa Clara home to move into in no time!
If you want help with your search, be sure to <a href="https://www.thebrasilgroup.com/contact/">contact us</a> at The Brasil Group! We will answer all of your questions and make sure you find your perfect home.
2022-10-26T14:35:38-07:002022-10-26T15:48:59-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:22025Should I Stage My Home to Sell?
Should I Stage My Home to Sell?
In February of 2022, <a href="https://fitsmallbusiness.com/real-estate-statistics/">six million homes</a> were sold in the US. The average home is only on the market for an average of 38 days before being sold.
If you're considering selling a home, these are undoubtedly promising statistics. Even if the bustling <a href="https://www.thebrasilgroup.com/blog/how-the-santa-clara-market-has-shifted-and-what-agents-and-sellers-can-do-about-it/">housing market starts to slow</a>, competition from other homes on the market becomes even more significant.
You might be wondering, stage my home or not? As the seller, you want to work a little harder to make sure your home is the one that stands out to potential buyers. 43% of homebuyers say they search online before ever talking with a real estate professional.
So, even how your home presents in photos is significant. If you're considering selling your home, you might be thinking about home staging, what it is and why it matters to get the best sale price possible.
Read on to learn more about how staging your home can significantly impact selling and what you should consider when staging. <br /><br />What Is Home Staging?
If you've viewed photos or walked into a home and been in awe. The house seems just perfect, welcoming, and comfortable all at the same time. You might even imagine yourself living in the home.
It's likely a designer's home or, more likely, a home that's been staged.
Home staging is the art of adding things to a home, like furniture, art, and decor, to best showcase the home's features. It's also the art of editing by rearranging and removing home features that don't show it off in its best light.
Some might even call a staged home something like the <a href="https://www.contravision.com/visual-merchandising-importance/#:~:text=Visual%20merchandising%20is%20a%20marketing,stand%20out%20and%20attracting%20shoppers.">art of visual merchandising</a>, where the home is the merchandise. It's arranged to make the home have more appeal and to flatter features of the home, so buyers notice. <br /><br />Why Is Staging a Home Important?
Staging a home is important for several reasons.
If you want to sell your home and do it quickly, you want your house to show itself in the best possible light. Careful and creative staging allows for the home to look its very best.
When your home looks its best, buyers can <a href="https://www.h2horganizing.com/">imagine living in the house</a> themselves. It psychologically makes them want to live in the house.
When they imagine living there, they will be more likely quickly move to make an offer.
Speaking of offers, it sells for more when a home gets staged. Home staging has also been shown to help homes <a href="https://themortgagereports.com/18516/home-staging-mortgage-sale-craig-berry">sell 73% faster</a>. <br /><br />Home Staging Advice to Consider
Most homeowners ready to sell will consult with a professional home stager. They're trained in how to arrange furniture and decor, so it makes the home appealing.
A successful home stager has a remarkable eye for detail. They don't want a potential homebuyer to come into the home and notice anything that might put them off about the home.
Whether you hire a professional or work through some staging strategies yourself, let's look at what would happen if your home was staged before going on the market.
Get Your Home Clean
Before anything else, you want to give your house a top to bottom cleaning. This doesn't mean you're just picking up clutter; this means cleaning.
Nobody wants to imagine <a href="https://www.thebrasilgroup.com/blog/top-9-most-common-seller-mistakes/">living in someone else's dirt</a> or germs. This means you want to clean the bathroom, including toilets, tubs, and showers. You want to scrub the bathroom floor. In your kitchen, you want it spotless.
If you have older appliances, your goal should be to get them so clean that they could pass for new ones.
Work through your home and ensure there are no fingerprints on walls, light switches, or banisters. Remove any dust from flat surfaces.
If you know you're not good at deep cleaning, even if you're not hiring a professional stager, you might opt to hire a professional cleaning team.
Declutter, Declutter, Declutter
When you live in a home over time, you collect stuff. Closets and drawers get fuller and more cluttered over time. You might not even have an objective viewpoint on how much clutter your home has collected.
Here's the problem with having clutter around when a potential buyer comes through. They get distracted by the clutter and don't really pay attention to the home.
Most people don't have a finely developed sense of detail. The clutter will have them missing features in your home that you want to stand out.
Take the time with a critical eye and declutter your home. Box things up and put them in storage away from the home. You should also go through closets and cabinets to declutter.
When a potential homebuyer comes through your house, you want them to imagine how easy it would be to bring their things into the home because there's plenty of open space.
Home Repairs, Even Small Ones
You may not have the budget for significant repairs, but even small ones can be very impactful.
Most homeowners aren't looking to buy a home full of projects and repairs. Your goal should be to present your home, so it appears it doesn't need a laundry list of DIY projects.
You can do little things that make a huge difference. Maybe you can't install new windows, but you can wash your windows, window casements, and screens.
You can ensure your entire bathroom and kitchen have a new layer of fresh caulk. This makes it look clean and new.
You could replace all the switch covers throughout your home for a small amount and give it a clean, new appearance.
If the paint on your exterior doors looks faded and worn, throw a coat of classic paint on them, so they look new and welcoming.
Remove Signs of You from the House
One of the first things a professional staging service will tell you is to remove all evidence of you in your home. This means you need to go through and completely depersonalize your home.
Photos of you and your kids on the walls make it hard for new owners to imagine living there.
Depersonalization doesn't mean just removing personal photos, either. While you might adore some of your collections and knick-knacks, they can be distracting for new owners.
You want to remove any notes, calendars, kid's art from your fridge. Clean off your belongings from the bathroom counters. Let the buyers imagine their stuff in there instead.
You want to present your home as having a clean slate.
Define Your Rooms
You may have an attic space, basement room, or even a spare bedroom that you use solely for storing stuff. It's your drop space. Most homeowners have spaces like this.
You want to make sure that your home's spaces are well defined. You want a potential buyer to see how they could maximize the square footage.
Instead of bare attic space, let new buyers imagine how they could use the space as a playroom or home office. <br /><br />Consider Your Flooring Situation
When you live in your home, especially over a long period, you know your floors take the brunt of your day-to-day life.
The problem is that potential buyers don't want to imagine walking on a dirty carpet or letting their baby crawl on old linoleum.
If you're considering any renovations before selling, look down and focus on floors. New flooring can <a href="https://www.nationalfloorsdirect.com/learn/articles/Does-New-Flooring-Increase-the-Value-of-a-Home#:~:text=New%20flooring%20can%20increase%20the,outdated%2C%20dirty%2C%20or%20worn.">add between 10% and 54%</a> to the value of your home, especially if you add hardwood flooring.
Consider tearing out old carpets and adding a more modern option like wood or luxury vinyl to your home. What you spend will likely be returned in a quick sale and added value to your asking price.
Keep It Light and Bright
Your goal is to show off the features of your home, which you can't do if it's dark.
Take every opportunity to bring in natural light. Open up shades, blinds, and throwback curtains so natural outdoor floods inside your home.
When your home is about to be shown, turn on all the lights. Don't make potential buyers search for switches. If any rooms in your home don't have good lighting, you want to add lighting.
Ensure all lighting is dusted and clean so it shines when the lights are on.
If you have any fixtures that are really outdated, consider replacing them with something. You don't have to spend a fortune; add something up-to-date that presents well.
Consider Current Furniture
Another important staging consideration is your furniture. You don't need to buy all new furniture.
But you also don't want your furniture to make a room look too crowded or outdated. Consider removing any furniture that blocks the ability to move around.
The goal for furniture and accessories should be to make a room feel spacious, inviting, and tidy.
If you have furniture that you know isn't the right fit for a space, you don't have to buy new. You could even consider a short-term rental of new furniture to achieve the look you want for your rooms.
Look Over Wall and Ceiling Surfaces
There are a few things to consider with walls and ceilings.
First, you should look over ceilings for cracks. This can put off buyers that there may be issues with the home. Many older homes will have cracks show up as the home slightly settles over time.
If you have foundation issues, you're required to disclose the issue. Otherwise, consider getting any visible cracks repaired.
You also want to look at how the paint on your walls looks. If it appears dirty and worn, it's likely worth a quick <a href="https://www.thebrasilgroup.com/blog/best-home-improvements-to-do-when-selling/">fresh coat of paint</a>. Remember, you can't anticipate a buyer's taste, so neutral is always best.
You might love your wild wallpaper, but a buyer could be put off by it. It's best to get your house to neutral for selling.
Stage Outside, Too
Will Rogers said it best when he quipped that you never get a second chance to make a first impression. The same goes for your house, which is why you also need to consider the exterior of your house.
You can stage your outside similarly to the inside. Make sure your lawn is manicured and freshly mowed. If you need to hire a lawn service for a short window before selling, it's a smart move.
If you have a porch area, make sure it feels welcoming. Trim bushes, shrubs, and trees. If the season is right, consider a pot or basket of flowers, too.
Fresh Elements
There's one thing that can quickly put off a potential buyer: smell, specifically bad smells in the house.
You want your home to look and smell fresh. You don't have musty smells in the bathroom or what you ate for dinner lingering in the air. You may have pets, but nobody else wants to smell them.
Don't underestimate the value of a few well-placed, healthy houseplants. If you have plants, make sure they don't look crowded or overgrown. A dying plant indicates poor care, which could also tell a buyer the home hasn't had good care.
Last Minute Staging
If your home is about to have a showing for a potential buyer, don't underestimate last-minute staging tactics to present your home in a good way.
Get some fresh air in the house. Consider lighting a lightly scented candle for a few minutes before the showing.
Put out some fresh flowers, ensure your bathrooms are tidy, and have fresh towels.<br /><br />Stage My Home, a Path to a Quick High-Priced Sale
Stage my home or not? If you're wondering whether to stage your home before putting it on the market, the evidence is pretty clear that it makes a difference in how quickly you can sell and for what amount.
Even if you opt not to hire a professional stager, you can do plenty of things for yourself that will work, like staging to improve the impression your home makes to potential buyers.
If you want more information on home staging or making a home sale, we can help. <a href="https://www.thebrasilgroup.com/contact/">Contact us today</a> so we can get started working for you.2022-09-20T13:00:00-07:002023-10-25T14:31:50-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:21444Should I Get an Adjustable Rate Mortgage to Buy a Home in Santa Clara?<img src="https://assets.site-static.com/userfiles/1078/image/Approved-mortgage-loan-agreeme.jpg" width="2000" height="1330" />
Should I Get an Adjustable Rate Mortgage to Buy a Home in Santa Clara?
It might surprise you to learn that houses in the United States now cost <a href="https://www.fool.com/the-ascent/research/average-house-price-state/">over $350,000</a> on average. So, it's become more difficult than ever before for homebuyers to find a place of their own. Those who currently own property, though, will likely find that their home is worth exponentially more than what they purchased it for.
For those who are looking to purchase a home, taking advantage of an adjustable rate mortgage can be a great way to secure financing. Not all buyers understand the details of this opportunity, though.
The good news is that it's not as complicated as it may seem at first.
To help you get started with an adjustable mortgage, we've created this guide that can help you avoid common mistakes. Let's dive into everything you need to consider about this type of mortgage payment.<br /><br />So, What Is an Adjustable Rate Mortgage?
An adjustable rate mortgage, also known as an ARM, is a type of mortgage where the <a href="https://www.investopedia.com/terms/i/interestrate.asp">interest rate</a> can change over time.
This means that your monthly payments could go up or down depending on market conditions. As you might guess, this can make budgeting for your mortgage a bit more challenging.
What Do the ARM Numbers Mean?
You may have noticed that our loans include two numbers.
For example, you might see one that says "5/1". This means that the interest rate will stay the same for five years and then can adjust once per year after that.
The first number (5) is how long the initial interest rate period lasts. The second number (1) indicates how often the interest rate can adjust after the initial period.
Why Would I Want an Adjustable Rate Mortgage?
There are a couple of reasons why you might want to consider an adjustable rate mortgage. First, the initial interest rate is often lower than a fixed-rate mortgage.
This means that your monthly payments could be lower during the first few years of your loan. Second, if market conditions are favorable, your interest rate could go down after the initial period. This could save you money over the life of your loan.
<br /><br />How Do ARMs Work in Context?
If you're considering an ARM, it's important to understand how they work and what the potential risks are.
This will help you make the decision that's right for you. Here are a few things to keep in mind.
1. The Interest Rate Is Not Fixed
As we mentioned, the biggest risk with an ARM is that the interest rate can change. This means that your monthly payments could go up or down, making it difficult to budget for your mortgage. However, strong changes in the interest rate of ARM loans are uncommon.
2. There Is a Limit to How Much the Interest Rate Can Increase
Most ARMs have caps, which limit how much the interest rate can increase over the life of the loan. For example, a 5/1 ARM with a 2% cap would mean that the interest rate could not increase more than 2% after the first five years.
This helps protect buyers from becoming unable to handle their mortgage payments.
3. ARMs Typically Have Lower Introductory Rates
One of the biggest benefits of an ARM is that they often have lower introductory rates. This can save you money in the short term, but it's important to remember that the interest rate will eventually adjust.
How the interest rate changes will depend on market conditions.
4. ARMs Can Be a Good Option For Certain Borrowers
Despite the potential risks, ARMs can be a good option for certain borrowers. If you're planning on moving or refinancing within a few years, an ARM could save you money.
Just be sure to understand the risks and compare different ARMs before you decide.
5. You May Have to Pay a Higher Interest Rate if You Refinance
If you decide to refinance your mortgage, you may have to pay a higher interest rate. This is because the new loan will be based on the current market conditions, not the rates when you first got your mortgage. Unfortunately, this means that you could end up paying more in the long run even if you had a low interest rate when you got your loan.<br /><br />What Are the Different Types of ARMs?
There are three primary types of ARMs that you need to know about before moving forward. Each has its own advantages and disadvantages.
Let's take a brief look at them below.
5-Year ARM
The most common type of ARM, the 5-year ARM has a fixed interest rate for the first five years.
After that, the interest rate will adjust annually. In general, the 5-year ARM offers a lower interest rate than a 30-year fixed-rate mortgage.
However, it's important to remember that your monthly payments could increase after the initial five years. This is why it's important to understand how much your payments could increase before you decide on a 5-year ARM.
7-Year ARM
A 7-year ARM is similar to a 5-year ARM, but the interest rate is fixed for seven years. This can be a good option for borrowers who want a longer period of stability. It's worth noting that the interest rate for a seven-year ARM loan lies somewhere between that of a 5-year and 10-year loan.
10-Year ARM
A 10-year ARM is the longest type of ARM, and it offers a fixed interest rate for ten years. This is often ideal for borrowers who plan on staying in their homes for a long time.
It also gives you the longest period of time to pay off your mortgage without worrying about an adjustable interest rate.<br /><br />What About Fixed-Rate Mortgages vs ARMs?
If you're trying to decide between an ARM and a <a href="https://www.fha.com/define/fixed-rate-mortgage">fixed-rate mortgage</a>, there are a few things to consider.
First, ask yourself how long you plan on staying in your home. If you're planning on moving within a few years, an ARM could save you money.
However, if you plan on staying in your home for the long haul, a fixed-rate mortgage might be the better option. It's also essential to consider your budget.
If you're comfortable with the idea of your payments going up or down, an ARM could make sense. However, if you need to stick to a strict budget, a fixed-rate mortgage will give you more peace of mind.
It's important to compare different ARMs and fixed-rate mortgages before making a decision. Be sure to look at the interest rates, fees, and other terms before you choose a loan.
Failure to do so could put you in an adverse financial situation.<br /><br />Have Adjustable-Rate Mortgages Always Been Popular?
Interestingly, many people are unaware of the fact that adjustable-rate mortgages have only recently come back into popularity. The last time they were a favorable loan option was during the <a href="https://www.federalreservehistory.org/essays/great-recession-and-its-aftermath">financial crash of 2008</a>.
This is due to the fact that mortgage interest rates were notably low, allowing people to secure low monthly payments. Unfortunately, interest rates rose in the following years, which caused many people to become unable to pay for their mortgages. For this reason, ARMs have a mixed reputation.<br /><br />Is It True That ARMs Have Stronger Guidelines Now?
Yes, this is absolutely true.
In the past, there were very few regulations surrounding adjustable-rate mortgages. As a result, many people ended up in difficult situations.
Now, however, there are much <a href="https://www.hud.gov/program_offices/housing/sfh/ins/203armt">stronger guidelines</a> in place. This means that people are much less likely to find themselves in financial difficulty as a result of an ARM.
For example, it is harder for borrowers to qualify for this type of loan than it was in the past. Previously, many people obtained approval for mortgages that they were not able to afford.
So, when interest rates increased, their monthly payment was far outside of their financial capabilities. Having a more rigid approval process prevents people from obtaining loans that could come back to cause issues in the future. So, although it might seem frustrating that there are stronger guidelines, it serves as a benefit to borrowers in the long run.<br /><br />What Type of Person Can Benefit From Getting This Type of Loan?
There are a few different types of people who can benefit from getting an adjustable-rate mortgage.
First, if you're someone who is planning on moving or refinancing within a few years, an ARM could save you money. If you're comfortable with the idea of your payments going up or down, an ARM could make sense. Just be sure to understand the risks before you decide.
Those who are buying a starter home or condo can also benefit from an ARM. This is because you're likely to move or refinance before the interest rate adjusts.
Just be sure to consider your plans for the future before you decide.
Are All Loan Providers the Same?
No, all loan providers are not the same. It's essential to compare different lenders before you choose one.
Be sure to look at the interest rates, fees, and other terms before you make a decision. You should also take a look at their reputation. Unfortunately, there are lenders out there who do not provide the best possible client experience.
The good news is that a quick online search can often tell you everything that you need to know. Take a look at what past clients have had to say—this will offer valuable insight into what you can expect from them.<br /><br />What Is the Current Real Estate Market Like in Santa Clara?
The Santa Clara real estate market is <a href="https://www.thebrasilgroup.com/buyers/hows-the-market/">hot right now</a>.
This means that housing prices are expected to continue to rise as time goes on. However, the market will eventually have to cool in the future.
So, <a href="https://www.thebrasilgroup.com/buyers/">homeowners with ARM loans</a> may find that their interest rate drops in the future. Regardless, they will be able to lock an interest rate in for a certain period of time before the fluctuation begins.
Buyers in the Santa Clara market can benefit from aggressively paying off their mortgage during this fixed-rate period.<br /><br />Are There Any Concerns About the Real Estate Market in Santa Clara?
There are always concerns when it comes to real estate markets.
However, the Santa Clara market has been strong for a while now and is expected to continue to be strong in the future. This means that those who are considering an adjustable-rate mortgage should not be too worried about a market crash in the near future.
Of course, as with any investment, there is always some risk involved.<br /><br />Should I Get an Adjustable Rate Mortgage to Buy a Home in Santa Clara?
There are a few things to consider before deciding if an adjustable-rate mortgage is right for you.
Think about how long you plan on staying in your home. If you're only planning on being there for a few years, an ARM loan could save you money.
Just be sure to understand the risks before you decide.
It's also essential to take a look at recent market trends no matter what you decide to buy. Otherwise, you could run into a handful of complications.
For instance, imagine if you needed to <a href="https://www.thebrasilgroup.com/blog/when-is-the-best-time-to-sell-a-home-in-santa-clara/">sell your home</a> a few years after buying it, but the market took a downward turn. You may have to sell your home for less than what you bought it for.<br /><br />This Mortgage Option Doesn't Have to Be Complicated
It might seem difficult at first to understand the nuances of an adjustable rate mortgage, but it's easier than you might expect it to be. Ensure that you keep the above guidelines in mind so you can avoid problems you may have encountered.
Feel free to <a href="https://www.thebrasilgroup.com/contact/">reach out to us</a> today to learn more about how we can help you.2022-08-16T11:58:00-07:002022-08-16T12:14:59-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:21333How Much Can a Landlord Raise Rent in Santa Clara?<img src="https://assets.site-static.com/userfiles/1078/image/steigende-Immobilienpreise.jpg" width="2000" height="1143" />
How Much Can a Landlord Raise Rent in Santa Clara?
Did you know that the average real estate property in the United States now costs <a href="https://www.fool.com/the-ascent/research/average-house-price-state/">over $350,000</a>? As you might guess, this has served as an obstacle for those who are looking to purchase their first house. For others, it serves as a lucrative investment opportunity.
As time goes on, rent prices seem to be increasing more than ever before.
In Santa Clara, California, it's essential to understand how much a landlord can go about raising rent.<br /><br />This topic might seem difficult at first, but it's much easier than you think. We've put together a guide that has everything you need to know about how much a landlord can raise rent prices. Let's get started.<br /><br />So, What Is Rent Control?
Rent control is a government-mandated price ceiling on rent prices.<br /><br />It is designed to make housing more affordable for tenants by capping how much landlords can charge for Santa Clara rent prices. There are two different types of rent control: universal rent control and targeted rent control.
Universal rent control applies to all rental units in a jurisdiction, while targeted rent control only applies to units that are considered affordable housing.<br /><br />Rent control is a controversial policy, with opponents arguing that it decreases the supply of rental units and drives up prices in the long run. Supporters argue that rent control is necessary to protect tenants from exploitation and ensure that everyone has <a href="https://www.thebrasilgroup.com/blog/6-steps-to-moving-to-santa-clara/">access to affordable housing</a>.<br /><br />A Brief Look Into AB 1482 in California
In 2020, the state of California passed a rent control law, called AB 1482.<br /><br />This law placed a statewide cap on rent increases at 5% plus the <a href="https://www.investopedia.com/terms/c/consumerpriceindex.asp">Consumer Price Index</a> (CPI), with a maximum of 10%. The CPI is an index that measures the change in prices of goods and services over time.
AB 1482 also included a number of other provisions designed to protect tenants, such as barring landlords from evicting tenants without just cause and requiring landlords to provide relocation assistance to tenants who are displaced due to no fault of their own.<br /><br />The law went into effect on January 1, 2020, and will sunset on January 1, 2030, unless it is extended by the legislature. However, the direction that the state government will take remains to be seen.<br /><br />How Does This Impact How Much a Landlord in California Can Raise Their Rent?
Under AB 1482, a landlord in California can only raise the rent by 5% plus the CPI, with a maximum of 10%. So, if the CPI is 2%, then a landlord can raise the rent by 7% (5% + 2%).<br /><br />However, if the CPI is 4%, then the landlord can only raise the rent by 9% (5% + 4%).
Be sure that you keep this in mind when considering Santa Clara living.<br /><br />What About if the Rent Is Already Higher Than the Average Rent in the Area?
AB 1482 includes a provision that allows landlords to charge up to 20% above the average rent for units that are considered to be luxury units.<br /><br />A luxury unit is defined as a unit that is newly constructed or has rent that is already more than 30% above the average rent in the area. Under most circumstances, though, this does not apply.<br /><br />How Does This Law Impact Evictions in California?
<a href="https://sfrb.org/article/summary-ab-1482-california-tenant-protection-act-2019">AB 1482</a> bars landlords from evicting tenants without just cause. Just cause means that the landlord has a legitimate reason for evicting the tenant, such as non-payment of rent, damage to the property, or a lease violation.<br /><br />This law also requires landlords to provide relocation assistance to tenants who are displaced due to no fault of their own. The amount of relocation assistance is based on the number of bedrooms in the unit and often ranges from $2,700 to $4,500.<br /><br />What Type of Properties Does Rent Control In California Apply To?
Rent control in California applies to nearly all residential rental units, with the exception of units that are owned by landlords who own fewer than two properties.<br /><br />This includes single-family homes, apartments, and condos. However, there are certain exceptions.<br /><br />For example, if there is a three or four-unit property that is occupied by the owner, conventional rent control laws do not apply. Other exceptions include mobile homes, college dormitories, and properties that have already been subjected to previous rent control regulations.<br /><br />Are Landlords Required to Issue Notice About Rent Increases?
Yes, landlords are required to give tenants written notice of any <a href="https://www.thebrasilgroup.com/blog/cost-of-living-in-santa-clara/">rent increases</a> at least 60 days before the increase takes effect.<br /><br />The notice must include the amount of the rent increase and the date when it will take effect. Otherwise, the landlord may run into legal complications in the future.
For example, let's assume that a tenant receives a notice that the rent will increase within the next 60 days. If the landlord does not convey by how much the rental increase, they will be breaking rent control laws.<br /><br />What if a Tenant Can't Afford the Rent Increase?
If a tenant has resided at a property for less than a year, a landlord must give a 30-day notice. If the tenant has resided at that location for more than a year, the landlord must give a 60-day notice. If the landlord chooses to increase rent by more than 10%, they must give a 90-day notice to their tenants.<br /><br />It's also worth noting that landlords must give a 30-day notice to tenants who are under week-to-week leases.<br /><br />Under This New Law, How Do Evictions Work?
Landlords are still able to evict tenants for just cause, such as non-payment of rent, damage to property, or a lease violation. However, it's essential to understand that there is both at-fault just cause and no-fault just cause.<br /><br />No-fault just cause it includes situations where the tenant has to be evicted due to no fault of their own, such as if the landlord needs to move into the unit or if the property is being sold.
In contrast, at-fault just cause involves evicting a tenant because they have done something wrong, such as not paying rent or damaging the property. If a landlord wants to evict a tenant for no-fault just cause, they must give the tenant at least 60 days' notice.<br /><br />However, if the landlord wants to evict a tenant for at-fault just cause, they must give the tenant at least 30 days' notice.<br /><br />What if a Tenant Wants to Move Out Before Their Lease Is Up?
If a tenant wants to move out before their lease is up, they are still responsible for paying rent for the remainder of the lease term. However, the landlord must make a reasonable effort to re-rent the unit, and the tenant is only responsible for paying rent for the amount of time that the unit is vacant.
This is key information to consider.<br /><br />For example, imagine if you as a tenant continue to pay rent even though the landlord had already re-rented the unit. They would receive twice as much income and you will have to pay for a dwelling that you are no longer able to occupy.<br /><br />What Are the Long-Term Effects of Rent Control on Landlords?
The long-term effects of rent control on landlords are contentious. Some experts believe that rent control could lead to a decrease in the quality of rental units, as landlords may be less likely to invest in maintaining and improving their properties if they're not able to increase rents.<br /><br />Additionally, rent control could reduce the overall supply of rental units, as landlords may be more likely to convert their units into condos or <a href="https://www.thebrasilgroup.com/blog/when-is-the-best-time-to-sell-a-home-in-santa-clara/">sell them</a> if they're not able to keep up with rising property taxes and maintenance costs.
Unfortunately, there is currently no available comprehensive research about these effects in the state of California. So, it remains to be seen how this new law will impact property owners.<br /><br />As a direct result of rent control, landlords are now more apprehensive when it comes to choosing tenants. For example, let's assume that a landlord is willing to rent to anyone.<br /><br />Tenant-related issues could justify increasing rent for the next tenant. To clarify, let's also assume that the tenant in question damaged the property, leaving the landlord to make expensive repairs.<br /><br />Now that the property has amenities like new hardware, flooring, etc., they should be able to charge more rent to help recoup the money they spent on improving the property. Under rent control regulations, though, landlords may not be able to increase their rent by enough.<br /><br />As you might guess, many landlords are also moving out of state to avoid these restrictions.<br /><br />What Are the Long-Term Effects of Rent Control on Tenants?
Rent control could have a number of positive effects for tenants in the long term. For one, it could help to keep rents affordable, which would allow tenants to stay in their homes for longer periods of time.<br /><br />Additionally, rent control could incentivize landlords to keep their units in good condition, as they would be less likely to evict tenants and lose income if they did so. Of course, there are also some potential negative effects of rent control on tenants. For example, if landlords are less likely to invest in their properties, the quality of rental units could decline over time.<br /><br />Additionally, if rent control reduces the overall supply of rental units, it could lead to increased competition for housing and higher rents in the long run. Overall, the long-term effects of rent control on tenants are unclear.<br /><br />More research is needed to determine how this new law will impact renters in California in the years to come.<br /><br />How Do I Know if My Landlord Is Following the Law?
As previously mentioned, landlords must give tenants at least 60 days' notice if they want to evict them for no-fault just cause, and at least 30 days' notice if they want to evict them for at-fault just cause.<br /><br />If your landlord is trying to evict you with less than the required amount of notice, they may be breaking the law. Remember that landlords can only raise the rent once each year, as well.<br /><br />What Should I Do if I Discover My Landlord Is Breaking the Law?
If you feel as though your landlord is infringing upon your rights, there are a few things you can do. First, try to talk to your landlord and see if you can come to an agreement. If that doesn't work, you can file a complaint with the <a href="https://www.dca.ca.gov/consumers/complaints/index.shtml">California Department of Consumer Affairs</a>.<br /><br />Finally, if your landlord is still breaking the law, you can contact an attorney or file a lawsuit. Of course, it's always best to try to avoid conflict if possible.<br /><br />So, before you take any legal action, make sure you understand your rights and the law. That way, you can be sure that your landlord is actually breaking the law before you take any further steps.<br /><br />It’s Essential to Understand How Much a Landlord Can Raise Rent
Rent control is a new law in California that limits how much landlords can raise rent and makes it more difficult for them to evict tenants.<br /><br />The long-term effects of rent control on tenants are unclear. More research is needed to determine how this new law will impact renters in California in the years to come.<br /><br />If you think your landlord is breaking the law, try to talk to them first. If that doesn't work, you can file a complaint with the California Department of Consumer Affairs or contact an attorney.
Keep this above guide in mind about how much a landlord can raise rent — it will prove to be valuable in the future.
Looking for more info on how we can help? <a href="https://www.thebrasilgroup.com/contact/">Reach out to us today</a> to discover what we can do.2022-08-10T13:25:00-07:002024-01-10T13:11:52-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20739When Is the Best Time To Sell a Home in Santa Clara?
When Is the Best Time To Sell a Home in Santa Clara?
Every home is unique because every homeowner is unique. This means that the best time to sell a home is unique for you. You want to sell your home for top dollar, but does the time of year you list it really matter?
Yes, it does! Keep reading to find out all about the Santa Clara market and get some tips on the best time of year to sell.<br /><br />Why Focus on the Best Time to Sell a Home?
When selling a home, everyone has advice to give you. The problem is that much of the advice is outdated or something someone heard from someone else. You want to focus on your home and the timing that fits it.
Goal
You want to know your goal when selling a home. Is it maximum profit or is it the speed of selling? Your goal will help you to know whether you can wait for the most profitable time of the year or not.
Timing
Picking the right time to sell a home can bring in thousands of extra dollars. In fact, you should focus more on timing than on home improvements. <a href="https://www.thebrasilgroup.com/sellers/should-i-fix-up-my-house-or-sell-it-as-is/">Improvements are important</a> but timing is often the biggest factor in pricing. <br /><br />Santa Clara Real Estate Market Realities
The market for Santa Clara homes for sale is often a fast-paced market with more buyers than sellers. However, it is still a market with cyles. This means there are times of the year that affect the overall market.
Location
Location has a big part to play in demand based on many things such as:
School reputation
Inventory levels of your area
Upkeep of neighborhoods
Quality of homes
If you are selling your home in the Briarwood tract area, the school is a benefit for you. But, many of the homes in the area are typical Santa Clara construction, which means more competition could hurt your value.
Unique Home Advantage
Locations that have unique homes, like Forest Park, do have an advantage in location. These homes are on average higher in quality and in more demand. This means the number of houses on the market doesn't hurt prices as much. <br /><br />Santa Clara Homes Averages
The <a href="https://www.santaclaraca.gov/">Santa Clara</a> market does give us some averages that are pretty consistent year after year. These averages affect the total number of homes available for sale and the prices of these homes.
Home Inventory Averages for Santa Clara
Home availability has some consistent cycles for Santa Clara. The time of year has more bearing on sales than many people realize. Here are some of the averages:
First of the year = Least amount of homes for sale
Spring = More homes are put on the market (busiest time)
Summer = More homes for sale and offers slow down (August and September usually have the most homes available)
Fall = Homes for sale decrease heading into the holidays
As you can see, the holidays and the first of the year are the times the fewest homes are on the market. This means that there is less competition for selling your home.
Home Price Averages for Santa Clara
Home prices move in unison with the amount of inventory on the market. Higher prices will be during the first of the year when inventory is low. Lower prices will be in the summer when inventory is high.
Many homeowners will even start decreasing their prices in August and September to try and generate a sale. <br /><br />Averages for the Best Time to Sell a Home
Each season of the year has some advantages and disadvantages to <a href="https://www.thebrasilgroup.com/sellers/">selling your home</a>. The key for you is to figure out what works best with your goals and schedule.
Spring
Spring's advantages start with the fact that prices are usually higher coming after the winter. This is also a convenient time for many people to sell their homes and more people start looking in the spring.
Spring's disadvantages come mainly from the reality that more people are listing their houses in the spring. This can increase your competition very quickly.
Summer
Summer is a convenient time to sell because the kids are out of school and moving to a new school is easier. This can motivate buyers to move quickly. You want to list early in the summer and not wait till late in the summer.
Summer is also a busy time with vacations and other events distracting potential buyers. If the school isn't motivating them, buyers may not feel the urgency to buy.
Fall
Fall begins to see the total number of homes available drop so that can help your home sell. If your home needs updating, the fall is often a better time to sell it.
Sometimes with prices dropping, late summer, sales comps hurt your asking price. There aren't as many buyers looking in the fall. Plus, after you sell in the fall you may have to buy in the winter when prices are higher.
Winter
With the holidays, many people think the winter is a bad time to sell. This doesn't apply to Santa Clara because many buyers are <a href="https://sanjosespotlight.com/santa-clara-sees-demographic-shift-population-growth-census-over-last-decade/">from Asia</a> and don't celebrate our holidays. Low inventory can give you an advantage if your home is updated and in good shape. There aren't as many buyers in the Winter, but if your home is in good shape, it can stand out and fetch top dollar. <br /><br />Preparation and Partnership
The best time to sell a home is different for every family. However, with a little preparation and planning, you can get the best price for your home.
The best thing to do when planning to sell your home is to get an expert partner who can help you. Brasil Real Estate Group is an expert in the Santa Clara area.
Let them help you decide the best time to sell your home to achieve top dollar. Get a <a href="https://www.thebrasilgroup.com/contact/">Free Market Report</a> from them and let their partnership help you achieve your goals.2022-07-12T12:00:00-07:002023-12-07T16:15:01-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20737Should I Fix Up My House or Sell It As-Is?
Should I Fix Up My House or Sell It As Is?
<a href="https://theclose.com/real-estate-statistics/">92% of the homes</a> sold in 2021 were sold using the help of a realtor to ensure the seller was knowledgeable about the ins and outs of selling your house. After selling a home, there is a sense of relief and freedom.
You are no longer stressing over dusting every corner of your house or turning every light on to avoid shadowing. The sensation of ease after moving on is similar to a parent putting their child to bed when they are done putting the finishing touches on themselves.
When you decide to sell your home in its current condition, the question is, "is it worth it to fix up my house to boost its overall value?"
You are not the only person determining this. Potential buyers will also be out there deciding if the home is enough for their needs. To entice potential buyers, you must invest in fixing up your house for resale.
For this reason, below, we discuss both sides and why you should, or shouldn't, fix your house up before selling it. Continue reading to learn more.<br /><br />Should I Fix Up My House or Sell As-Is?
For most homeowners, when you're ready to <a href="https://www.thebrasilgroup.com/sellers/should-i-fix-up-my-house-or-sell-it-as-is/">sell your house</a>, you first ask your listing agent if there are any repairs they think you should make that would increase the value of your home. While it might seem like a no-brainer, the truth is that these repairs can be time-consuming and costly, depending on what they are.
This would lead you to ask the question of whether you should make the repairs or sell your house as-is? There are perks to both, but it's crucial to remember that no situation is the same, and there may be reasons to sell your home as-is versus making the repairs needed.
Before you decide which route to go with, there are some questions you should ask yourself to ensure you're making the appropriate decision. How quickly do you want to sell your house?
What is the current value of your home and the state of the real estate market in your area? How much would it be to make the needed repairs?
These are just a few of the questions you should ask yourself before making your final decision. If it's a few minor repairs that could help you make more from the sale, you might choose to make the necessary upgrades.
But, if the repairs needed will cost thousands and you don't have the funds to make the changes selling the home as-is would be the best decision.<br /><br />Selling "As-Is' What You Need to Know?
If you've decided to sell the home at is this means your house is beyond repair, or the number of repairs that need to be made will be more than what you hope to make upon the sale of your home.
First things first, when you list your home as-is, you need to guarantee you don't skimp on having a seller's inspection completed. Once you've done this, you need to fill out a disclosure form.
This disclosure will let potential buyers know what they're getting into when they buy your home. After this has been done, find someone to take pictures of your home that can be used in the home listing.
Before the photos are taken, ensure you declutter the home. Potential buyers will find it challenging to imagine themselves living in your home if photos or personal belongings are left behind by yourself and your family members.
Even if you're selling a home that needs a high number of repairs, it doesn't mean you have to accept any offer you're presented with. With this understanding, there are some steps you should follow if you intend to sell your home as-is.
Step 1. Obtain a Market Analysis
Before you do anything else, take the time to have a home valuation performed. This will not only give you insight into the price to set for your home, but it will also provide information about the price that other homes in the area are selling for.
If the prices of your home and the others in the area are drastically different, take time to evaluate your home and what it would take for its value to be on the higher end of the spectrum.
Step 2. Understand Your Home Value
After the valuation is performed, you need to gain a deeper understanding of the value of your home. This means understanding the highlights of your home that will make potential buyers want to see and buy it.
If you note there are several pieces of your house that will make it valuable to buyers without the upgrade, then selling as-is isn't such a bad idea.
Step 3. Evaluate the Current Market & Choose the Right Listing Time
Evaluating the current market is essential because your market could be in a position where selling your home isn't the best idea. If your market is slow or weak, it could mean your home remains listed for longer.
When you decide to list your home when the market is strong, it means the odds of selling your home quickly and at a favorable price are on your side. Understanding the market's current condition will determine when it's the right time to list your home for sale.
Step 4. Determine Best Improvements With Higher ROI & Cost
Every year there are different upgrades that potential homeowners want to see in homes before they put in an offer. If you decide to make repairs to your current home, take some time to create a <a href="https://www.thespruce.com/home-improvements-that-help-you-sell-1977070">list of upgrades</a>, from the ones with the highest return to the ones with the least.
Keep in mind that your home won't be the only one buyers see; therefore, you want to ensure you capture people's attention over the other houses on the market. Once you determine which repairs you need to make, consider the changes' cost.
You'll also want to consider the time it will take for the repairs to be completed. If you want to sell your house fast, doing things like demolishing and installing new floors could take longer than simply painting the exterior of your home.<br /><br />Fix My House: Sell As-Is or Make Upgrades?
It can be challenging to determine when to sell your house, whether to make upgrades to "fix up my house" or just sell it as-is. Both have their advantages and disadvantages you need to evaluate before making your final decision.
Are you ready to sell your home? <a href="https://www.thebrasilgroup.com/contact/">Contact The Brasil Real Estate Group</a> for help because we know what we're doing and want to help you get the most from the sale of your home.2022-07-12T11:25:00-07:002023-10-31T13:26:29-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20659How the Santa Clara Market Has Shifted, and What Agents and Sellers Can Do About It
How the Santa Clara Market Has Shifted, and What Agents and Sellers Can Do About It
The Santa Clara market has shifted. Santa Clara, CA, real estate is changing like much of the rest of the country's real estate climate.
The reality is that homes are taking longer to sell, and there are more homes on the market. Santa Clara homes have dropped in value. They may drop further going forward.
So, how can you beat this <a href="https://home.sccgov.org/residents">Santa Clara County</a> real estate market? What do you need to do to get your home sold and get a good price in this market?
Read on to learn more about the Santa Clara real estate market trends and how they might impact you in selling your home. <br /><br />Working With an Experienced Santa Clara Real Estate Agent
When you consider the Santa Clara market, you want to talk to someone who knows the area and is familiar with the ebb and flow of the real estate climate.
<a href="https://www.sccaor.com/housing-stats/">The statistics</a> show there's been a shift in the market. But an experienced Santa Clara realtor like Vinicius Brasil also sees the trends in the market.
As a part of the Brasil Group, Keller Williams, his experience can also help you understand the trends present in the current Santa Clara market. He can help you learn what to expect moving forward and what you need to do to get your home sold.<br /><br />Santa Clara, CA Real Estate, What Has Happened?
To understand the current market in Santa Clara County, you must first consider the area historically to understand what got the market to its current state.
Locally, the real estate market tends to be a seller's market with limited available inventory and strong demand for that inventory.
First, consider the federal government's recent monetary <a href="https://tradingeconomics.com/united-states/interest-rate#:~:text=Interest%20Rate%20in%20the%20United,percent%20in%20December%20of%202008.">policy of low-interest rates</a> and quantitative easing. This created an atmosphere of rapid and high asset depreciation, resulting in record-high stock prices and real estate.
The covid pandemic also contributed even further to this phenomenon.
Seasonal Trends
Typically, there's low inventory after the holiday season at the beginning of the year. In a market with reasonable demand, the market generally experiences some price appreciation at the end of the year's first quarter.
This year the market was overly heated due to:
Extremely low inventory
Low-interest rates
Record-breaking stock market
This resulted in a very hot market at the beginning of the year, with local real estate prices reaching the highest levels ever. This made the Santa Clara and the Valleys real estate even less affordable.
With recent concerns about inflation, the Fed has chosen to take a more conservative approach and raise interest rates. The goal is to slow the economy and ultimately curb inflation.
Because of the interest rate hikes, the results have been higher mortgage rates and a sharp correction in the stock market.
These factors have resulted in a steep decline in affordability for buyers in the Santa Clara market.
These factors, combined with record housing prices and the seasonal increases in the inventory of homes for sale, resulted in a sharp correction in local real estate values.
There are some cases where homes are now selling for a half-million less than they sold at their peak in recent times. <br /><br />What Should You Expect From the Market Going Forward?
The real estate market, like economic markets, operates on the premise of <a href="https://www.investopedia.com/terms/l/law-of-supply-demand.asp">supply and demand</a>.
For the past few years supply of homes for sale has been low, and demand has outpaced supply. This meant that for several years the price of homes has increased.
Recently though, the demand has dropped. This could result in <a href="https://www.thebrasilgroup.com/buyers/">home buyers</a> being priced out of the market. It could also result from interest rate increases and stock market corrections.
These changes all impact affordability, and therefore, demand goes down. When demand goes down, it also means homes take longer to sell.
This, coupled with the general increase of homes for sale that seasonally happens in the spring and summer markets, will put further pressure on home values to drop.
The current market conditions due to the correction in real estate values have buyers proceeding cautiously. At the same time, sellers are hoping to realize sale prices from months back.
All of this leads to more homes sitting on the market and the eventual dropping of home prices as sellers lower the list price to sell their homes.<br /><br />How Can You Get Your Home Sold in the Current Market?
There are a few factors key to a successful real estate sale. The seller needs to have realistic expectations about the current market situation. The realtor's role is strong communication, so there is an understanding of the <a href="https://www.thebrasilgroup.com/">current real estate climate</a>.
Sometimes this means the seller needs to adjust their expectations once they have a better understanding of the current market.
So the key is working with realtors and agents who can communicate what is happening in the market to inform or educate their sellers.
Ultimately, the seller and the agent should work together to develop a successful sale plan.
The first part of this plan involves pricing your home to sell. It's critical to price for the current market conditions to get the home sold.
As demand is softening and prices drop, you don't want to have your home sitting on the market too long.
You'll want to capture the attention of those motivated buyers who are still making offers in hopes of getting a solid offer and selling your home quickly.
Let's look at some tips to ensure your home sells in the current shifting real estate market.
Hire a Neighborhood Santa Clara Real Estate Agent With Experience
A Santa Clara realtor with experience in your local market will understand what is happening in the current market and how your home will fit into the current market conditions.
Your agent will know:
How strong buyer demand
Your competition
How to price your home effectively for a successful sale
If you price your home too high, your home will sit on the market longer. You will only receive offers from opportunistic buyers who will make lowball offers.
As the market drops and new listings come in, undercutting your home's price, you will eventually have no choice but to drop your price or take your home off the market.
The first week your home is on the market is critical in a shifting market. Make sure your realtor knows their stuff and has a solid plan to get your home sold, including pricing it right.
Pay Attention to the Appearance of Your Home
In a shifting market, more homes are on the market, which means more competition and options for buyers.
It's critical to grab buyers' attention online before they go through the door to view it in person. Your Santa Clara realtor should advise you on how to make your home stand out.
An experienced agent should also have a team of skilled contractors, stagers, and tradespeople that can help you get your home ready at a reasonable price, and with a quick turnaround.
Time is key here because the market is softening. You want to get your home sale-ready quickly.
Be Prepared for Negotiations
A few months ago, a seller would list their home and end up selling it with multiple offers and a record price.
In the current Santa Clara, Ca, real estate market, sellers will need to work hard and do more to get multiple offers. They will also need to be prepared to negotiate.
This gets back to the agent you work with. Not only should they be a top-notch negotiator, but they must understand the current market and be able to calculate risk. The agent should be able to guide you through those tough decisions in negotiating a sale.
As a seller, you shouldn't be afraid of losing a buyer if you counter. If a buyer has made you an offer, they want your home.
Trust that your agent will guide you through the negotiation process to sell your home for the best terms and price the market will bear.<br /><br />Time to Get Your Santa Clara Home Sold
It can be shocking how quickly and dramatically the Santa Clara, CA, real estate market can turn.
Now that the market has shifted, it's important to know exactly what's going on. Where is demand, and how does your home stack up?
Working with a professional who knows your area will be your best asset for the successful sale of your home.
If you have questions about the market, and your Santa Clara home, let me help you. Feel free to call or email me with all your questions.
<a href="https://www.thebrasilgroup.com/contact/">Contact the office</a> and ask for Vinicius Brasil, the Santa Clara Real Estate Guy.2022-07-08T13:47:00-07:002022-07-12T16:15:09-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20212Living in Santa Clara - 95050
Living in Santa Clara - 95050
95050 - Santa Clara’s Southeast Zone
In partnership with American Dream TV, Vinicius Brasil, the Santa Clara Real Estate guy, takes us on a tour of 95050, Santa Clara's Southeast zone.
Santa Clara is known as the center of silicon valley, its the home to Intel the world's largest chip maker, the 5 times Superbowl Champions the San Francisco 49ers, Mission Santa Clara which was founded back in 1776, and the University of Santa Clara, the oldest institution for higher learning on the west coast.
We start out at one of Santa Clara's famous cafes, Jiaren Cafe.
Jiaren Cafe
Jiaren Cafe is a non-profit neighborhood cafe known for its unique drinks which include matcha, boba teas, local espressos & coffee, as well as fruit & herbal drinks. The owner also offers Latte Art Classes, so you can learn to make your own coffee masterpieces. As a proud supporter of female-owned businesses, Jiaren Cafe serves Ritual Coffee Roasters Coffee and sources products from other local female-owned businesses.
The cafe offers free WiFi for its patrons, a connected yoga studio space for deep relaxation and exercise, countertop tables and benches with easy access to outlets, and plenty of comfortable chairs and cushions, in addition to delicious and healthy drinks. Jiaren Cafe also offers a range of community activities, such as group and private lessons, as well as partnership fundraisers, in order to give back to the community, whether through donations or by providing a fun and educational experience.
If you are in Santa Clara, you have to stop by Jiaren Cafe.
Stop #1 - Old Quad Neighborhood
From Jiaren Cafe, we head over to the Old Quad neighborhood of Santa Clara which surrounds the downtown. The name "Old Quad" comes from the quadrangle shape of the ancient "Town of Santa Clara", as depicted in J. J. Bowen's initial town survey in 1866. The Old Quad is defined as the area bounded on the west by Scott Boulevard, the south and east by Newhall Street, and the north and east by train tracks. The City of Santa Clara does not recognize the Old Quad as a "historic district" at this time; yet, the area is full of historic buildings, landmarks, and stories about Santa Clara's beginnings.
This neighborhood features what is arguably the most famous home in all of Santa Clara, Morse Mansion. This large spectacular Queen Anne Victorian home was originally built in 1892, for Charles Copeland Morse, the “American Seed King” and is listed on the National Register of Historic Places. There are a number of prominent homes built at the turn of the century with varying styles throughout the Old Quad neighborhood. If you are looking for a period home whether grand or more modest, Santa Clara’s Old Quad neighborhood will not disappoint.
Stop #2 - Carmelite Monastery
If you are driving south on Winchester Street you will eventually run it a large parcel of land with rose-colored walls and rod iron gates.
The Old Quad neighborhood is located near one of Santa Clara’s most unique and relatively unknown properties, the Carmelite Monastery. This monastery was originally built in 1917 as a permanent monastery for the community of Cloistered Discalced Carmelite nuns. This serene place is open to the public to walk through and feels like you’re stepping back in time. As you enter you will walk past the rose-colored walls and rod iron gates through a grove of olive trees past a small chapel.
It's a peaceful setting that makes you feel like you've stepped back in time, and it's a lovely spot for an afternoon or morning stroll. One fascinating detail about this site is that it was once a ranch held by Judge Hiram Graham Bond before becoming a monastery.
Interestingly enough, writer Jack Landon was one of the people who was a guest of Judge Bond’s ranch. This ranch, as well as Judge Bond's dog, inspired the start of London’s novel, “The Call of the Wild.”
Stop #3 - Santa Clara University
Located near the Old Quad neighborhood is the Santa Clara University campus, also known as “SCU” and formerly known as the “University of Santa Clara.” The University is one of the oldest on the entire west coast, originally established in 1851 it has evolved into a world-class center for learning and one of the top universities in the region.
Part of the campus is home to the Mission of Santa Clara, which dates back to the era of Spanish rule in 1777. This mission, which was founded by the Franciscan Order in 1777 as part of a chain of 21 Alta California Missions, was the only one of the 21 that the Franciscans gave up to the Society of Jesus (the Jesuits) in 1851, making Santa Clara University the state's first school of higher education. Mission Santa Clara is still the spiritual and religious heart of the campus today. The Mission Church, which is part of SCU's Division of Mission and Ministry, continues to welcome faculty, employees, alums, and neighbors to worship alongside our student body.
Also on Campus is the De Saisset Museum which houses thousands of art pieces and local historical artifacts. Some of the pieces include works by Chagall, Matisse, and Picasso.
Stop #4 - Taplands
We finish our tour at the outside patio of Taplands, located in downtown Santa Clara in the Old Quad neighborhood near Santa Clara University. If you are a beer aficionado, you will love Taplands.
Taplands is a celebration of the California beer scene, with a concentration on Bay Area breweries and a preference for smaller, lesser-known, but nevertheless excellent brews. Their 25 taps change on a regular basis, so if you come in one day, their taps are likely to be pouring something different the next. They also serve their own beer, which is brewed right next to their custom-built bar.
Taplands serves a simple yet delectable meal designed to complement the beers on tap. The outdoor patio is one of the few in the neighborhood where you can sit and enjoy the lovely South Bay weather while sipping a nice beer.
In addition to brewing its own beer, it features 25 rotating craft cooler-stocked beers with unique craft beers you won’t find anywhere else. It's a great place to meet friends, hang out on a nice sunny day and enjoy a nice snack, and treat your palette to some of the best beers around.
<br /><br />Conclusion
As you can see, there's a lot going on in Santa Clara's southeast zone. From enjoying a delicious drink at Jiaren's Cafe to strolling through the Old Quad neighborhood and admiring the historic homes, to strolling through the peaceful Carmelite Monastery, to admiring the beautiful Santa Clara University and enjoying a nice beer with friends at Taplands, this area of Santa Clara has a lot to offer.
Make sure to watch this episode of 95050 with American Dreams TV on our <a href="https://www.youtube.com/channel/UCLm8z36OVUygOj1XjgXyD_Q">YouTube channel</a>, or watch the video <a href="https://youtu.be/XHq69FFx-hI">here</a>.
Next time, join us on American Dream TV for a tour of the north side of Santa Clara, 95054, which will include a look at one of the NFL's newest stadiums, and a look at what the future holds for Santa Clara.
If you are considering a move to Santa Clara or anywhere in Santa Clara County, I would love to be a great resource for you and help you learn more about the area.
To contact me, you can call me directly or send me a message.2022-06-16T14:10:00-07:002022-06-17T11:41:48-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20210Living in Santa Clara - 95051
Living in Santa Clara - 95051
95051 - Santa Clara’s Southwest Zone
In partnership with American Dream TV, Vinicius Brasil, the Santa Clara Real Estate guy, takes us on a tour of 95051, Santa Clara's Southwest zone.
Santa Clara is known as the center of silicon valley, its the home to Intel the world's largest chip maker, the 5 times Superbowl Champions the San Francisco 49ers, Mission Santa Clara which was founded back in 1776, and the University of Santa Clara, the oldest institution for higher learning on the west coast.
But if you ask any Santa Claran what the greatest thing is to ever come out of Santa Clara, chances are they will probably say Stans Donuts.
Stans Donuts
Stans Donuts originally opened its doors in 1959 right about when Santa Clara was changing from a small agricultural town to the city of innovation and technology it is today. Stans is a Santa Clara cult classic and has been serving Santa Clara's finest donuts for decades. A wonderful family-run business that many Santa Clarans believe makes it the best donuts in the world. If you are in Santa Clara, you have to stop by Stans. From Stans, we head over to Santa Clara's Central Park.
Stop #1 - Central Park
This large park is situated in the center of the city and hosts many of the major community functions in Santa Clara. This park is located about a block away from Stans Donuts. This 52 Acre park is literally in the center of the city, and it is considered to be the heart of Santa Clara.
The park features picnic areas, a pavilion, duck pond, lighted tennis and basketball courts, the international swim center, two playgrounds, and fields for every sport. The park is adjacent to the City's main library and the community center.
This park hosts several events each year such as Santa Clara’s 4th of July celebration, the Annual Easter Egg Hunt, the Santa Clara Art and Wine Festival, and the end of the year Christmas tree lighting ceremony.
Central Park is such a big part of Santa Clara life, whether it was swimming at the pool in the summer, visiting the library, or just picnicking with family, there are so many great times had in this park. From Central Park, we head over to Westwood Oaks, one of Santa Clara’s top neighborhoods.
Stop #2 - Westwood Oaks
The Westwood Oaks neighborhood was originally developed in the late 1950s by Builder David Bohannon.
The Westwood Oaks development won several awards for its forward-thinking designs of open kitchens and spacious living rooms which were some of the first homes to feature large sliding patio doors that overlook the backyard. Fast forward 60 years and Westwood Oaks continues to be a sought-after neighborhood for many Santa Clara home buyers.
The development features 3 and 4-bedroom single-level ranch-style single-family homes with several different floorplans and elevations. t's a quiet neighborhood, with lot sizes around 6000 sq. ft. Westwood oaks feature two neighborhood parks, is next to Kona Kai Swim and Racquet Club and is just a short walk from Apple Computers' new headquarters.<br /><br />Conclusion
As you can see, the southwest zone of Santa Clara has a lot going on. This area of Santa Clara has a lot to offer, from enjoying a tasty Stans donut to strolling around Central Park or admiring the beautiful homes in Westwood Oaks.
Make sure to watch this episode of 95051 with American Dreams TV on our <a href="https://www.youtube.com/channel/UCLm8z36OVUygOj1XjgXyD_Q">YouTube channel</a>, or watch the video <a href="https://youtu.be/CqBNZLGc4Tw">here</a>.
Next time on American Dream TV, we'll take a tour of Santa Clara's southeast zone, 95050, which includes Santa Clara's Old Quad and one of Jack London's favorite hangouts.
If you are considering a move to Santa Clara or anywhere in Santa Clara County, I would love to be a great resource for you and help you learn more about the area.
To contact me, you can call me directly or send me a message.2022-06-16T13:42:00-07:002022-06-17T11:33:10-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20203Cost of Living in Santa Clara<img src="https://assets.site-static.com/userfiles/1078/image/Cost_of_Living_in_Santa_Clara.jpg" width="1903" height="2000" />
Cost of Living in Santa Clara
Santa Clara is one of the most desirable places to live in the state of California. Sitting in the Silicon Valley just next to San Jose, Santa Clara is the perfect mix of both urban and suburban.
The population of the city is 126,723 as of 2020 and is continuing to grow.
Moving to Santa Clara is a big decision, which is why it is important to know everything you can about this city.
So, what is the cost of living in Santa Clara? What does the city have to offer? Is Santa Clara the place you want to call home? Here's all you need to know about this vibrant California city.
Fast Facts About Santa Clara
Here are some fun and fast facts you need to know about Santa Clara:
The area of the city is about 20 miles
There are 26 neighborhoods
It has a rich Spanish history dating back to 1769
Santa Clara University is the oldest operating university in California
What is there to Do in Santa Clara?
Santa Clara holds an abundance of history and art that can be appreciated in museums and parks throughout the city.
It is home to the Great America Theme Park, Intel Museum, as well as Levi's stadium where San Francisco's football team, the 49ers, play. Santa Clara Square offers a place for leisurely shopping and local restaurants.
Shopping centers such as Santa Clara Town Center and Franklin Square are a good way to spend your weekends shopping for all of your wants and needs.
Some of the best restaurants in the area include Birk's restaurant, Sumiya, and Il Fornaio. One taste of Santa Clara at these highly-rated restaurants will capture your heart.
The city is also south of the San Francisco Bay, with accessible beaches and parks nearby. You can find more activities and places to sight-see by <a href="https://www.tripadvisor.com/Attractions-g33046-Activities-Santa_Clara_California.html">clicking here.</a>
Benefits of Living in Santa Clara
What are the benefits of living in this beautiful city? Here are some that will make you want to move to Santa Clara in no time.
Temperate Weather
Living in Santa Clara means temperate weather, with mild winters and dry summers. In the winter, the temperature barely drops below freezing, with little to no snow throughout the season.
Low Crime Rates
The city is one of the <a href="https://www.santaclaraca.gov/our-city/departments-g-z/police-department/crime">safest cities</a> in the state. The crime median per 1,000 residents is 1.67, whereas the California rate is 4.4. It is also safer than 17% of U.S cities.
Good Schools
The schools in Santa Clara are highly rated public schools—perfect for families with young children. Some of the schools are the top in the state.
Moving to Santa Clara can offer for young professionals and single-family households the chance to live in the center of fast-growing companies. Being at the center of Silicon Valley means an opportunity to work and live in a community with some of the smartest minds in technology and business.
Cost of Living in Santa Clara
No matter what your desired living space in Santa Clara is, there is something for everyone. Whether you're looking to rent or buy an apartment, condo, or house, you can find exactly what you're looking for.
The average price of renting an apartment is around $2,800, but ranges depending on size and location.
Condos are a fun alternative to a house and offer a larger living space than apartments. The price range of buying a condo in Santa Clara range between $500,000 and $1 million depending on the size.
The average price of renting a house centers around $5,000, whereas the average purchasing price of a home is around $1.5 million.
Santa Clara homes and apartments are accurately priced for their beautiful architecture and locations. Considering this city has been deemed one of the best cities to live in, these homes and apartments reflect the high standards of the city.
With the right tools, finding a home can be an enjoyable experience. If you want more information on buying homes in Santa Clara, you can find exactly <a href="http://thebrasilgroup.com/">what you need here</a>.<br /><br />Best Neighborhoods in Santa Clara
Santa Clara real estate is booming, so it's important to know the best places to look for a new home. Here is a rundown of the best neighborhoods in the county.
Casa Del Ray
Casa Del Ray sits on the western border of the county and is the safest neighborhood in Santa Clara. It is close to the San Jose international airport, as well as multiple museums.
Agnew
Along with Casa Del Ray, Agnew is one of the safest neighborhoods in Santa Clara. This neighborhood also offers an abundance of parks and hiking trails in the area. The neighborhood is within close proximity of Levi's Stadium, and California's Great America Theme Park.
Central Santa Clara
Central Santa Clara is centered in the city and is perfect for families. Surrounded by neighborhoods, this is the perfect spot to live and explore the community. <br /><br />Your New Home is Calling
Santa Clara is one of the best places to live in California. It has low crime rates, and good schools, and is in the heart of Silicon Valley. Beautifully built apartments, homes, and condos are perfect for those who want to live in the heart of California.
If you are looking to move to this beautiful city, it is important to understand the cost of living in Santa Clara. You can find more information on Santa Clara <a href="http://thebrasilgroup.com/">real estate here</a>.
Home is calling in Santa Clara. If you think this city will be perfect for you, check out our website for more information on current listings. 2022-06-16T11:34:00-07:002022-07-12T17:04:47-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20202Is Santa Clara Safe? Everything You Need to Know Before You Move
Quick, think about California's most popular cities! Los Angeles and San Diego may come to mind. But the population of Santa Clara has grown by <a href="https://worldpopulationreview.com/us-cities/santa-clara-ca-population" style="font-size: 17px;">15% since 2010</a>.
If you want a comfortable city to live in, you should consider moving to Santa Clara. Yet you shouldn't pack your bags just yet. You need to answer a few safety questions first.
Is Santa Clara safe, and what are Santa Clara's crime statistics like? What are the best neighborhoods to live in? What should you do to keep yourself safe?
Get the facts and you can find the right place to start a new life in. Here is your quick guide.
<br /><br />Santa Clara Crime Statistics
The <a href="https://www.santaclaraca.gov/our-city/departments-g-z/police-department/crime">Santa Clara city government</a> posts crime statistics on its website every month. Between January and April 2022, nearly 1,300 serious crimes occurred in the city.
The most common crime was larceny-theft, which occurred nearly 750 times. More than 150 vehicles were stolen and 26 residents experienced a robbery.
Violent crime levels in the city are currently very low. No homicides and 11 rapes have occurred thus far during the year.
Over the last few years, crime rates in Santa Clara have remained relatively consistent. In 2021, less than 4,100 major crimes occurred in the city. This was slightly up from 2020's rates.
The city of Santa Clara has roughly 130,000 residents. The odds of you being involved in any crime are low, let alone a violent crime. <br /><br />Safe Santa Clara Neighborhoods
Though overall rates of crime in Santa Clara are low, some neighborhoods account for more crime than other areas. Neighborhoods around San Jose International Airport tend to have higher crime rates. These neighborhoods include Verona and Lafayette Americana.
The neighborhoods bordering Sunnyvale tend to be safer. Camino Del Prado, Santa Clara Southwest, and Agnew report consistently low crime rates.
You can find <a href="https://www.thebrasilgroup.com/santa-clara/">options for homes</a> in all of these neighborhoods. Camino Del Prado and Santa Clara Southwest offer many midsize homes, though sticker prices can exceed $1 million. Agnew offers larger single-family homes as well as townhomes.
All three of these neighborhoods are good neighborhoods for families. Agnew is located near several public schools, including Santa Clara High School. <br /><br />Ways to Stay Safe
You should not be afraid of crime while you are living in Santa Clara. However, you should adopt a few steps to reduce your risk of violent and property crime.
Avoid Walking Alone at Night
The less time you spend on the street, the less likely you are to fall victim to street crimes. The VTA light rail system runs through Santa Clara. You can use the railway system to access other cities in Santa Clara County and major locations like Santa Clara Airport.
If you must walk to get to a destination, try going through a well-lit and heavily populated area. The areas around Route 101 and the San Tomas Expressway are well-lit and near popular businesses.
You should also walk with someone else. If you can't find someone to go with, you can walk while you are on the phone with a friend or relative.
Pay attention to your surroundings. Do not put in earbuds or look down at the crowd while you walk. Keep your head up and look around you as you cross the street or walk near an area where someone could be hiding.<br /><br />So Is Santa Clara Safe?
Many people have questions about Santa Clara. Is Santa Clara safe?
Yes, though some areas are safer than others. You should avoid the neighborhoods around Santa Clara Airport, and you need to practice some commonsense safety guidelines.
You should avoid walking the streets alone at night. Visit a police or fire station if you are being harassed, and lock your doors before you head out. Do not respond to someone knocking on your door.
You can find a safe Santa Clara home in no time. The Brasil Group serves the Santa Clara area. <a href="https://www.thebrasilgroup.com/property-search/search-form/">Search for your dream home</a> today.<br /><br />Know Where the Police and Fire Stations Are
The main police building in Santa Clara is located at 601 El Camino Real. This is in the Rivermark neighborhood, which is adjacent to Agnew.
The police department also has a substation at 3992 Rivermark Parkway. The substation is near Newhall and Chapman Morse, and officers at the station respond to any calls from south Santa Clara.
Santa Clara also has <a href="https://missioncity.maps.arcgis.com/apps/MapTour/index.html?appid=15779cefd9bc463d8bc6229b61d921d5">ten separate fire stations</a> scattered throughout the city. If you believe you are being followed, you should go to a station and report what is happening to you. You can send a report through the city government's website as well.
Lock Your Doors
Many thieves enter homes just because they are unlocked. Before you go out or while you are alone in your house, you should lock your doors and windows.
You can leave a light on in your home to trick a burglar into thinking that someone is home. But many robbers are aware that people leave lights on to trick them. Consider leaving the television or radio on instead.
You can also place objects in front of your windows to make it harder for someone to break in. You can plant bushes or thorny flowers underneath your windows and around the exterior of your home. Inside your home, you can slide tables and couches in front of your windows.
A thief may try to trick you by knocking on your door. Do not answer your door if you are not expecting someone. If you must go to the door, answer with your phone in your hand so you can contact someone if anything happens to you.2022-06-16T11:25:00-07:002024-01-16T12:29:01-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20201Top 7 Tips on Buying a House in Santa Clara<img src="https://assets.site-static.com/userfiles/1078/image/house_in_Santa_Clara.jpg" width="2000" height="1333" />
Top 7 Tips on Buying a House in Santa Clara
If you're looking at buying a house in Santa Clara, that's excellent news. Santa Clara is an amazing city that's centrally located to other staples of California, like San Fransisco, Santa Cruz, and San Hose. It also has perfect weather nearly all year round.
But before we get too far ahead of ourselves, let's talk about the home buying process. Do you have a house shopping strategy lined out?
If not, don't worry, that's what we're here for. Keep reading for seven important tips for buying a house in Santa Clara.<br /><br />1. Get Pre-Approved for a Home Loan
The cost of living in Santa Clara is high, like most other cities in California. If you didn't already know, the median home cost is just under <a href="https://www.bestplaces.net/cost_of_living/county/california/santa_clara">$1.4 million</a>.
Before shopping for a house in Santa Clara, talk to your bank and other lenders to <a href="https://www.thebrasilgroup.com/buyers/mortgage-pre-approval/">get pre-approved</a> for a mortgage. You need to know how much money you can get approved for. Getting pre-approved will also help you learn about your potential mortgage payments and the interest rates you're eligible for.
Remember, some lenders have better rates and are willing to lend more money, so shop around for the best home loan options. Then, you'll know exactly what price range you should be shopping under.
2. Save Up for a Down Payment
If you've previously rented homes or this is your first time buying a house in Santa Clara, it's important to understand all the costs involved with buying and owning a home. For example, most home loans require <a href="https://www.ramseysolutions.com/real-estate/save-down-payment-while-renting">saving for a down payment</a>.
For jumbo home loans (anything over $650K) a minimum of 10% is required. However, some lenders prefer 25-30%. Putting money down on your house will help lower your monthly payments and your interest rate.
Use this <a href="https://www.thebrasilgroup.com/buyers/mortgage-calculator/">mortgage calculator</a> as part of your house shopping strategy to learn more about your potential home loan costs.
3. Don't Make Any Changes to Your Financial Status
Making financial changes is one of the biggest mistakes made by home buyers. Any alteration to your financial status could negatively impact your home loan eligibility. Even if your days out from closing, you could disqualify yourself and lose the house.
Things to avoid include:
Taking out personal loans
Adding charges to a credit card
Buying a new car
Etc.
It's also important not to make any career changes, even if your new job pays more. If you get a new job, you'll be required to provide six months' worth of paystubs to verify your income, which could restart the home-buying process. If possible, wait until after you close on the home before changing jobs or making any other changes that could affect your mortgage eligibility.
4. Hire an Experienced Real Estate Agent
Whether you're moving to Santa Clara or have lived here your whole life, working with a real estate agent is highly recommended. It's especially important, however, if you're new to the area.
A realtor has the experience and expertise you need to find ideal homes for families of all shapes, sizes, and backgrounds. They can also help you find the best Santa Clara neighborhoods based on your needs. They have hometown experience and in-depth knowledge of the area.
Real estate agents will also prove valuable in your house shopping strategy when it comes time to make an offer. They have important negotiation skills that will help you get the best possible price for your new home.
5. Identify the Best Santa Clara Neighborhoods for You and Your Family
Now, let's talk about finding <a href="https://www.thebrasilgroup.com/property-search/search-form/">homes for sale</a> in Santa Clara in the right area. What neighborhoods are best for you and your family?
If you have kids, look into the local school districts. The location of your home will determine which schools your kids have access to as they grow up. You'll probably also want a home near parks and playgrounds.
Conversely, if your lifestyle is more work/nightlife oriented, you'll want a home closer to the heart of Santa Clara. You might appreciate a shorter commute to work and being closer to the city's expansive nightlife and entertainment.
6. Determine Your Wants and Needs
When looking for a house in Santa Clara, identify your priorities. What are you looking for in your new house? What amenities and features are at the top of your list?
On the practical side of things, ask yourself:
How much interior space do I want?
What size property do I need?
How many bedrooms and bathrooms do I want?
Additionally, think about comforts and luxuries. This includes things like hot tubs, pools, fire pits, outdoor kitchens, updated kitchens, luxury bathrooms, and more.
7. Invest in an Inspection and Appraisal
Finally, when you find a house in Santa Clara you want to buy, make a contingent offer. Your offer should be contingent on the home's inspection and appraisal.
The home inspection will uncover any issues or damages to the property. If there are any red-flag issues, they'll need to be remediated before you buy the house.
In many cases, lenders won't approve offers for homes with these types of problems. If the damages or issues aren't deal-breakers, you can request repairs or use them as leverage to lower your offer.
Finally, make sure the home is appraised at or above the seller's asking price. If the appraisal comes back low, you have grounds to lower your offer to meet the appraisal value. You should never pay more than the appraisal price unless you're in a bidding war for a house you can't pass up.<br /><br />Looking for a House in Santa Clara?
If you want to buy a house in Santa Clara, we hope this article gives you the insight you need to optimize your house shopping strategy. Follow our guide to find the right home for you and your family without going over your budget or making any other mistakes.
And if you're ready to get started, we're here for you. <a href="https://www.thebrasilgroup.com/contact/">Contact us today</a> to get in touch with an experienced Santa Clara real estate agent. We would love to work with you and your family to help you find the perfect home in an ideal neighborhood.2022-06-16T11:15:00-07:002022-07-12T17:11:14-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20217Top 9 Most Common Seller Mistakes
Top 9 Most Common Seller Mistakes
Selling a home is one of the biggest events that can happen in a person’s life. Whether you are downsizing, relocating, or selling your late mother’s home, it’s a monumental event.
Considering the price of homes in Santa Clara and the active Santa Clara real estate market, you would think that selling a home in Santa Clara wouldn’t be so difficult.
However, as a home seller be aware that mistakes can be costly and result in the loss of tens if not hundreds of thousands of dollars.
Before you sell, be sure to understand the top mistakes to avoid when selling your Santa Clara home.<br /><br />Worried About Making Any of Those Common Seller Mistakes?
There is a lot that can go wrong when selling a home.
I hope that this article helps you understand all the important aspects as a seller that you should be considering before your sell your home.
As a real estate professional, I am always available to answer any of your questions and am happy to be of assistance.
Please leave me a comment or contact me with any questions.<br /><br />As a Home Seller, You Should Never:
Overprice Your Home
Sell Your Own Home
Not Prepare Your Home for Sale
Spend too Much Time and Money Preparing Your Home
Sell at the Wrong Time
Not Stage Your Home
Take Poor Listing Photos
Fail To Disclose Important or Trivial Issues
Hire The Wrong Real Estate Agent
<br /><br />When selling your house, you should never:
Mistake #1: Overprice Your Home
Overpricing your home could possibly be the most common mistake that sellers make. An overpriced home will have fewer showings, take longer to sell, and sell for a lower price than if it were competitively priced.
Today’s buyers are savvy home shoppers. They have online home valuation websites, they study the market on Redfin and Zillow, and they do their homework.
If buyers suspect your home is overpriced, they won’t waste their time dealing with what they perceive as unrealistic sellers.
To further complicate matters, buyers in our Santa Clara market are already expecting to pay over asking. This means even if you price your home at the price you are expecting, the buyers may factor in how much they have to bid and come to the conclusion that your home is overpriced.
The consequences of overpricing your home are fewer showings, more time on the market, fewer offers, and ultimately lower priced offers and unfavorable terms, ultimately making the sale longer and more difficult.
Pricing your home competitively with the market, which in Santa Clara means pricing below the market price will result in multiple offers and higher offers.
The end result is that you will be able to sell your home quickly, over asking, and for a higher price than if you priced it at market value. Also, you will be able to negotiate the terms you want such as a rent-back and likely receive a non-contingent offer.
For more information on how to properly price your home to sell in the Santa Clara market, read our article <a href="https://www.santaclararealestateguy.com/selling-your-home-make-sure-the-price-is-right/">Selling? Make Sure the Price is Right.</a>
Mistake #2: Sell Your Own Home
When you take into consideration how expensive homes are in Santa Clara and real estate commissions, there is no surprise that many homeowners consider selling their homes themselves.
The median home value in Santa Clara is over $1.7M and at 6% that’s a lot of commission and a huge chunk of money from the seller.
Let’s be accurate here- 6% commissions in our area are rarely sought by real estate agents. Commissions for selling a $1.7M home are more likely to be 5% to 4% depending on the agent and the service you are seeking.
As a home seller, whether you are selling your home yourself or have an agent, you should really consider offering 2.5% to the buyer’s agent who brings you the buyer for your home.
Most qualified buyers are working with an agent, and they prefer it that way. With home values being so high they are seeking the help of agents to navigate the market, find them a good home and make sure they don’t make a mistake.
Eliminating the buyer’s agent will result in eliminating lots of buyers who might be interested in your home.
In reality, what sellers are debating when they are thinking of selling their home is whether saving 2.5-1.0% is worth hiring an agent.
A good agent will do many things for you.
They will protect you and reduce your liability, they will assume lots of the responsibilities of selling a home such as showings, communication with buyers and other agents, coordinating improvements, and marketing, there are lots to do when selling a home.
They know the market and will help you price and market your home to get it sold. They have great resources and understand the complete home selling process.
Also, they will manage the entire transaction.
Ultimately a good agent will protect you, save you time, and sell your home for more money than you would be able to yourself.
The amount of value you will receive from working with a good listing agent will far surpass the cost you incur from paying 2.5-1.0%.
Mistake #3: Not Prepare Your Home for Sale
It’s a seller's market and you think that you don’t need to do anything to sell your home for the highest price.
If the market is hot your home may sell and it may sell quickly, you may even get a great price. But are you leaving money on the table by not doing any work?
The answer is yes.
There are all sorts of buyers out there and in hot seller’s markets, buyers are more willing to compromise on what they really want. But not all buyers will feel that way.
Your best chance of selling your home for a great price is making sure your home shows the best it can. That means it’s bright and clean. It’s ready to move in, and although it may not have the latest and greatest kitchen and bathrooms, it feels like home to buyers.
Most buyers don’t want project homes. Especially project homes that are 50+-year-old homes like many Santa Clara homes. There are many concerns for young or first-time home buyers buying an older home, and if they feel your home isn’t well maintained they will pass.
So before you decide to sell your home, consult with a professional on what it would take to get your home in showing and selling condition. Generally, the cost is anywhere from $10K-$20K, but you could get 5 times that if you do the right updates.
For more information on how to improve your home check out our article on <a href="https://www.santaclararealestateguy.com/best-home-improvements-selling/">Best Home Improvements when Selling.</a>
Mistake #4: Spend too Much Time and Money Preparing Your Home
The best way to get your home sold for top value is to make it stand out and get as much attention from buyers as you can.
One way to accomplish this is to remodel your home to fit today’s modern tastes and style. This will surely get your home sold, but will it net you the most money?
In order to answer this question, you need to understand your home and your home’s market. In other words, you need to check out the competition.
If it’s a strong seller’s market and your home is in a desirable neighborhood and location, you may not need to do much to get your home sold for top value.
In fact, doing too much may not result in a higher price and cover the costs of the remodel.
Also, keep in mind that if a home sells for too high of a price the buyer may have problems with the home appraising.
There are a number of other factors to consider when planning out improvements to sell your home – one is timing.
If your improvements take too long the market may shift and prices could drop before you can list the home. It’s important to understand the timing of selling a home in your market. For a great article on when to sell check out the <a href="https://www.santaclararealestateguy.com/best-time-to-sell-home-santa-clara/">Best Times to Sell Your Home</a>.
Many improvements require permits. The more substantial the improvement, the more likely a permit would be required and the more risk a homeowner will incur if a permit is not obtained.
Permits are not necessarily expensive, but they do take time and can extend the amount of time it would take to complete the improvement.
One of the biggest improvements that I run into is kitchen remodels.
Kitchens are a big factor for buyers and an updated kitchen with new cabinets, countertops, and appliances really impress. Santa Clara requires a permit for kitchen remodels and for many homes, this will result in an electrical panel upgrade.
There are many homes that are sold in Santa Clara with un-permitted remodeled kitchens. As a homeowner, you can disclose that you remodeled your home without a permit and this will limit your liability if the buyer has trouble in the future. However, you run the risk if the city finds out before escrow closes and some buyers may not be comfortable with your unpermitted improvements.
New kitchens and bathrooms make a difference when you sell your home. Before you commit to lengthy and expensive updates make sure you take into account the market and the risks.
For more info on home improvements before selling, check out our article <a href="https://www.santaclararealestateguy.com/home-selling-mistakes/">Avoid These Home Improvement Mistakes</a>.
Mistake #5: Sell at the Wrong Time
There is really no such thing as selling at the wrong time. If you have to move you have to sell.
It’s rare that we have a bad seller’s market or a bad time to sell in Santa Clara, but there are better times than others to put your home on the market.
Understanding the seasonality of our market can help you time your sale for a faster and potentially higher price home sale. Delaying or speeding up your sale could mean the difference of tens or hundreds of thousands of dollars.
Essentially, you want to avoid the slow times of the market if possible and take advantage of the times when the market is heavily favoring sellers.
For more information on the best time to sell your home, read our article <a href="https://www.santaclararealestateguy.com/best-time-to-sell-home-santa-clara/">Best Time to Sell a Home in Santa Clara</a>.
Mistake #6: Not Stage Your Home
Staging can be a big expense when selling. In recent years the demand and the cost of staging have increased substantially. At the time of this article staging a 3 bedroom 2 bath home of approximately 1200 sq. ft. can set you back $3000-$4000 dollars.
That’s a lot of money to spend on temporary decorating.
The reality is that staging does make a big difference.
Buying a home is personal and emotional. Buyers make lists of wants and needs when shopping for a home, but make their decisions based on how they feel when they’re in the home.
Staging a home can make a home feel luxurious and contemporary. Staging gives buyers a better idea of the home’s potential and how it can be used.
Good and thoughtful staging can make odd spaces in a home feel more functional and add value. Ultimately, a home with the right staging will look better, feel better, and make buyers want it more.
Homes without staging require buyers to be more imaginative about how to use the home. For some buyers, this isn’t a problem, but for others who struggle to make design decisions, this can be a challenge.
Getting the most buyers interested in your home and getting them to love it, will get you the top price you are seeking.
One last piece of advice about staging. Not all staging is the same. Like everything else, there is good staging and bad staging. To make sure your home benefits from staging make sure you have a stager who is thoughtful and determined to make your home stand out.
Personally, all our listings are staged. We believe so much in staging that we have our own staging furniture and stager, and provide it free to all our listing clients.
For information about our staging please visit our article <a href="https://www.santaclararealestateguy.com/staging-your-home-selling/">Staging Your Home</a>.
Mistake #7: Take Poor Listing Photos
These days everyone starts their home search online and what gets their attention are stunning photos of bright and spacious homes.
Spending money on home updates and staging won’t do you much good if the photographs in your marketing show a dark home with small rooms.
Access to quality real estate photos these days isn’t too difficult. There are however agents or sellers who don’t want to incur the expense.
Expect to pay anywhere from $100-$200 for high-quality professional photos. Typically agents pay for this expense.
However, if you are selling yourself you will want to make sure that the photographer you chose is professional. They should be using a wide-angle lens for inside shots and an ultra-wide-angle lens for spaces like bathrooms or small bedrooms and offices.
You may want to check to see if the photos will be High Dynamic Range photos. These photos are comprised of multiple shots at different exposures and make interior shots look bright and detailed.
In addition to high-quality photos, you may want to also have a 3D scan of your home’s interior for a 3D walk-through tour. 3D tours save time and allow buyers to preview your home’s layout before viewing your home. More importantly, after they have seen your home they don’t need to revisit the home to verify any spaces.
We personally use <a href="https://matterport.com/industries/real-estate">Matterport</a> 3D scanning technology for our 3D scans and tours. We have found them to produce the best quality images and tour functionality among all 3D tour providers.
Mistake #8: Fail To Disclose Important or Trivial Issues
As mentioned earlier, real estate transactions can be highly emotionally charged events.
It’s not uncommon for buyers to have remorse after buying a home, especially considering some of the hot markets where substantial overbids occur.
In many cases, buyers make non-contingent bids which leave little recourse if they want to back out of the deal. If a buyer does not wish to move forward and wants to retain their deposit, the way to do so is to claim that the seller withheld information or failed to disclose important details.
Sellers have disclosure obligations to disclose any material fact or detail which may influence the desirability of the home. This could essentially be anything.
One of your agent’s responsibilities should be to go over the disclosures with you personally and make sure they are complete and accurate.
Avoid language that dismisses issues or makes them seem like they are not problems or have been resolved when in fact they still linger.
Understand that any missed question could be an opportunity for a buyer to request clarification in the middle of the escrow and then claim that the new material fact that was disclosed is justification for cancellation.
A worst-case scenario would be after the home is sold and the buyer discovers a material fact that was not disclosed. In these situations, the buyer’s only recourse is to seek damages in the court system which can be a stressful and expensive mistake.
Mistake #9: Hire The Wrong Real Estate Agent
Real estate agents help their clients with many important aspects of selling their homes.
They should be expert marketers and experts in your neighborhood. They can assist you with preparing your home to get top value, making recommendations for reliable and professional tradespeople. They will develop a strategy to get what you want from your sale and handle all the details.
As trusted advisors they protect you. They limit your liability and ensure that you are in compliance with all your disclosure obligations.
The right agent with their years of experience, an extensive network of other real estate professionals, and good negotiation skills is the biggest asset to you during your real estate transaction.
The wrong agent is the opposite. They can cost you thousands in lost equity, fail to negotiate the terms that will protect you, and if not careful or diligent can open you up to liability that you could be dealing with for years afterward.
For more information about what questions to ask, when hiring your next real estate agent, please read our article <a href="https://www.santaclararealestateguy.com/14-questions-to-ask-a-real-estate-agent-worth-their-salt/">14 Questions to Ask a Real Estate Agent.</a>2022-06-16T11:13:00-07:002023-11-01T15:14:38-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:201916 Steps to Moving to Santa Clara<img src="https://assets.site-static.com/userfiles/1078/image/Moving-home.jpg" width="2000" height="1333" />
6 Steps to Moving to Santa Clara
Believe it or not, a recent survey found that <a href="https://www.foxnews.com/real-estate/americans-moving-more-stressful-survey">45% of Americans</a> said that moving was the most stressful event of their lives. It also discovered that they found it caused more stress than getting divorced or having children.
In spite of its many implications, moving doesn't have to be as overwhelming as we find it to be. As long as you plan carefully, you can smooth out the process and make it as pleasant an experience as possible, even in a popular neighborhood like Santa Clara.
Here are 6 steps to moving to Santa Clara you've got to know about.
<br /><br />Why Santa Clara?
Santa Clara is located in the heart of Silicon Valley and is home to many established tech companies including Intel, Omnivision, and Texas Instruments. It's located only one hour south of San Francisco and just west of San Jose.
Museums, parks, and breweries abound in the area, so there is never a shortage of great ways to get out and about. You're also surrounded by plenty of lovely wineries and remain a short drive from the parks and attractions in Disneyland.
Santa Clara boasts relatively low crime and excellent educational opportunities. You'll also enjoy a warm climate and mostly sunny days throughout the year.
<a href="https://www.thebrasilgroup.com/about/featured-listings/">Santa Clara homes</a> include plenty of single-family units as well as townhomes and condos. You'll also enjoy plenty of places to shop, dine, and stroll. If you're looking for the bustling atmosphere of an urban neighborhood combined with the safety and beauty of the suburbs, you will love moving to the Santa Clara area.
1. Choose Your Neighborhood
There are a number of wonderful neighborhoods in Santa Clara County, so it's important to talk to your Santa Clara realtor about which one is right for you.
For example, Boulder Creek offers a lower cost of living than most cities in the state. There is also a lower crime rate and great educational opportunities.
Scott's Valley is known for being a warm, friendly place with lots of restaurants, coffee shops, and parks. While the schools are highly rated, it also remains a popular neighborhood for young professionals and retirees. Scott's Valley is minutes from the beach and offers lovely views of the mountains.
If you're looking for a more bustling feel, you might want to look in an area like Los Gatos. Here, you'll find many beautiful homes, cultural activities, and shops to keep you busy. The cost of living is a bit higher than average, but many believe the lifestyle makes it well worth it.
2. Choose Your Home Type
The beauty of an area like Santa Clara County is that there isn't just one home type to choose from. Many families prefer single-family homes because they offer privacy and a backyard for children to play in. Homes in the area also offer many other amenities, including pools and outdoor dwelling units for additional living space.
Condos, however, also have their own advantages. They are generally more affordable than single-family homes and are often located close to business districts and local entertainment. You'll also enjoy community spaces like gyms, pools, or parks that are exclusive to condo owners.
You may also be interested in a townhouse, which allows you to be a part of a community without sacrificing space. You also won't have to worry about any exterior maintenance.
3. Check Out Homes
Your realtor can show you all of the neighborhoods and home types Santa Clara has to offer.
Before making a final decision on where you want to live, make sure you've thought about important things like <a href="https://www.nerdwallet.com/article/finance/budget-checklist-monthly-budget">your budget</a>. What can you realistically afford to spend each month on a mortgage, taxes, and utilities? You'll also want to consider things like groceries and transportation.
Make sure your commute is comfortable. You'll also want to check out entertainment in the area if you plan on socializing a lot. Finally, narrow your search down to a few neighborhoods and home types that will best suit you.
4. Make an Offer
In today's competitive market, you'll want to make sure <a href="https://www.thebrasilgroup.com/buyers/making-an-offer/">your offer</a> on a home is competitive. Find out what prices homes in the neighborhood are going for, and get pre-approved to make sure your offer will have a higher chance of getting accepted.
Consider offering your seller flexibility in terms of moving times in order to help your offer move to the top of the list. It's also important to be patient during a time when lots of folks are looking for a home.
5. Find a Qualified Mover
Before choosing a company to help you move, make sure you get lots of recommendations and check out reviews. Remember that you'll be entrusting them with some important things, and you'll want the big day to go as smoothly as possible.
6. Settle In!
Of course, moving to a new neighborhood is also a very exciting time. Talk to the locals about the best local repairmen who can help you get your place move-in ready. This is also a great way to find out where to get take-out or enjoy an exciting life on the weekends.
Take your time with things like furniture and decor, as you'll be in your home for a long time. You'll want your house to be something you are comfortable and happy in for years to come!<br /><br />6 Steps to Moving to Santa Clara
Moving to Silicon Valley is an exciting decision. If you follow our 6 steps to moving to Santa Clara, you'll be ready for your new home in no time.
Don't stop getting smart about Santa Clara real estate now. For more great options, <a href="https://www.thebrasilgroup.com/contact/">contact us</a> today. 2022-06-15T18:10:00-07:002022-07-12T17:08:52-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:20189Pros and Cons of Living in Santa Clara
Are you curious about what it is like to live in Santa Clara?
Curious what living in Santa Clara is like? Santa Clara features a population of around 130,000 residents and is located in the center of Santa Clara County. A large tech center, Santa Clara is home to several top tech firms like Intel, Nvidia, and Applied Materials. Santa Clara has some great benefits for families such as family-friendly neighborhoods, good private and public schools, and fun entertainment options for all ages.
Before you jump right in there are a couple of things you should know before you buy a home in Santa Clara. In this article, I will go over some of the pros and cons of living in Santa Clara.<br /><br />Pros of Living in Santa Clara
Housing diversity
One of the great things about Santa Clara’s housing is its diversity. Homes are dating back to the late 1800s and early 1900s, including a few estate-type mansions, as well as homes built in the last 20 years, and everything in between.
Homes in Santa Clara are more affordable than homes to the west, such as Sunnyvale, Cupertino, and Mountain View
Relative to some of the surrounding communities to the west, homes in Santa Clara are more affordable than in cities like Sunnyvale, Cupertino, and Mountain View, and much more affordable than in Palo Alto and Los Altos. There are some parts of North Sunnyvale along 101 that may not be as expensive, but for the most part, you will get more for your money in Santa Clara.
Living in Santa Clara is convenient and is centrally located with good highway access
Silicon Valley is a pretty congested area. Also, the best and most desirable tech jobs are typically close to Palo Alto and up the peninsula. Companies like Google, Facebook, Amazon as well as Apple have located up the peninsula or on the western side of the valley. So if you happen to work for one of these companies or in that region, the farther you are to Palo Alto the more challenging you will find getting to work. Geographically Santa Clara straddles both Highway 101 and 280 which lead up the peninsula through Palo Alto and there is Also Central Expressway as well, which to me is a pro.
Additionally, Santa Clara also has a train station and additional train stops that can take you up the Penninsula to San Francisco. If you prefer to take public transportation, this is a great alternative.
Santa Clara is fairly central in the valley and there are lots of great companies located right here, such as Nvidia, Intel, Applied Materials, and Service Now to name a few, and some that are right on the border like Apple, Intuitive Surgical and Linkedin. Living in Santa Clara will generally mean a better and easier commute to jobs up the peninsula than San Jose or Campbell, any community to the south or east
Santa Clara Schools are generally in good proximity to the homes inside their enrollment boundaries
This is very subjective, but again I feel this is another pro for Santa Clara. In the valley, the Santa Clara Unified School District does not have a reputation for high-performing academics, compared to the Palo Alto and Cupertino School Districts. One of the pros of Santa Clara Schools is that they are generally in good proximity to the homes inside their enrollment boundaries, so you don’t have to drive far to get your child to school.
The School District consists of 18 elementary schools, 5 middle schools, and 3 high schools.
There are two open enrollment schools, Washington Open, and Millikin Basics, meaning they do not take enrollment from any boundaries within the district, but parents must apply. Both schools are highly rated and sought after and have very different educational philosophies.
One of the unique and little-known facts about the Santa Clara Unified School District is that the district is one of a few school districts in the state that is basic aid.
Basic Aid districts are funded locally through taxes and not by the state. This allows Santa Clara Unified to offer more competitive salaries to their teachers and staff and offer additional education programs.
Also worth mentioning here is that there is a small part of Santa Clara in the southern part of the city, mainly homes south of Pruneridge avenue that are part of the Cupertino or Campbell school districts. In addition to public schools, there are several private schools and academies located in Santa Clara and the surrounding area.<br /><br />Both Pro & Con (depending on how you see it)
A large number of contemporary townhomes and condos
In the last 15 years, there have been lots of developments in newer condo and townhome communities. So there is a good amount of contemporary townhomes and condos.
There are lots of different areas and neighborhoods in Santa Clara
Many are old established neighborhoods with an aging population but also a growing population of young tech workers and families moving into the area. There are some neighborhoods like Rivermark and the Old Quad that have active residents and associations, but for the most part, many Santa Clara neighborhoods are not very active.
Here are a few Santa Clara Neighborhoods or Communities to consider if you are thinking of moving to Santa Clara.
Old Quad
Rivermark
Forest Park
Killarney Farms
Westwood Oaks
Darvon Park
Briarwood
Nuevo
Central Park
<br /><br />Cons of Living in Santa Clara
Vast Majority of Tract homes from the 1950s and 1960s
65% of all Santa Clara single-family homes were built in the 1950s and 1960s. One important thing to understand about Santa Clara housing is the vast majority is made up of post-war ranch-style homes. These are homes built in the 1950s and 1960s and are typically referred to as tract homes. Most are built in the ranch style, with a few Mid-Century modern-style homes here and there.
Not many new single-family homes
Although there are a variety of homes built in different time periods, you’re not going to find many new single-family homes, and unfortunately not many large homes. An average Santa Clara home is a 3 bedroom 2 bath, is around 1200-1400 square feet, has a 2 car garage, and a 5000 - 6000 square foot lot. Finding a large home can be a challenge. Many 2000-square-foot homes are homes that have been expanded, some better than others. If you are looking for 3000 sq. ft. homes or a larger one, Santa Clara may not be the place for you.
Santa Clara real estate is expensive
You are probably already aware of this, but one of the major drawbacks of living in the bay area is housing prices. Housing in the Bay Area is expensive and Santa Clara is no exception. I won’t go into specifics here on pricing because it seems like pricing is always changing.
If you need specifics on housing prices in Santa Clara, or the Bay area, I’ve provided a link <a href="https://www.thebrasilgroup.com/santa-clara/">here</a> to our website where you can access information on Santa Clara real estate market and home values.
Some housing in Santa Clara is more expensive and older than the Santa Clara homes to the East
To the south of Santa Clara are West San Jose and the city of Campbell, and although close in price, Santa Clara has a slightly higher cost per sq. ft. than these areas. To the east and northeast of Santa Clara is Central and North San Jose, also the city of Milpitas is nearby, and these areas are more affordable than Santa Clara and offer more of a selection of newer homes built in the 1970s and 1980s.
An important detail about Bay Area Housing
Keep in mind, that the general trend is as you move more northwest, up the peninsula real estate gets pricier and older, and as you move down the peninsula to Santa Clara Valley and San Jose, homes are less costly and newer.<br /><br />Conclusion:
As you can see there is a lot going on in Santa Clara and depending on how you look at it Santa Clara may or may not be the right place for you and your family. If you are considering a move to Santa Clara or anywhere in Santa Clara County, I would love to be a great resource for you and help you learn more about the area. To contact me, you can call me directly or send me a message.<br /><br />Amenities
Santa Clara has everything you need close by. There’s a Target, a Costco, several grocery stores such as Safeway, Whole Foods, and Nob Hill to name a few, as well as several ethnic supermarkets serving our Chinese, Indian, and Korean population.
Part of Westfield Valley Fair, the area’s largest retail mall, is in Santa Clara. Additionally, the trendiest shopping in the valley, Santana Row, lies right outside of Santa Clara’s borders.
And I have to mention the historic El Camino. This is the main boulevard that cuts through all of Santa Clara. It's a patchwork of large and small strip malls, some good some not so good. Here you will find your typical mom-and-pop type of establishments as well as the national chains that you see in most cities. In recent years there have been several new dense housing developments along the El Camino and the city has invested in beautifying this historical road. To the west bordering Sunnyvale on the El Camino, there is the Korean business district or Korea town.
By the way, if you want the scenic tour of the peninsula you can drive the El Camino to San Francisco, as proven by my assistant Neil.
Lastly for those of you interested in the Northside of the city, there is a new mix-use project that is currently in planning, which will be developed on the old Santa Clara Municipal Golf Course. It is slated to be the largest development ever in Santa Clara County’s history.
Assortment of restaurants with cuisines from all over the world
Santa Clara, like much of the bay area, is a melting pot of cultures and nationalities. You’ll find cuisine from all over the world, and Santa Clara is no exception. Besides your typical Italian, Mexican, Chinese, and Japanese restaurants you’ll find several Korean, Thai, and various Indian cuisines from all over India. There is also Afghani, Pakistani, Mediterranean cuisine from Greece, various Arab and middle eastern cuisines, and who could forget the Portuguese bakery? You can enjoy tacos, dosas, shawarmas, falafels, samosas, quejadas, and pretty much any food you can imagine, you’ll find it here in Santa Clara.
Parks in the city of Santa Clara
There are close to 40 parks in the city of Santa Clara. The city probably has the most parks per capita than any other city in Santa Clara county. This includes Central Park where the annual Art and Wine festival is held.
There is a community garden, Santa Clara Skate Park, which is located next to the Youth Activity Center, a sports park, several dog parks, as well as lighted basketball and tennis courts, and several community pools, including the famous international swim center.
There are neighborhood parks all over the city featuring upgraded playgrounds, bathroom facilities, and fields for its residents to enjoy.
The city also has the Ulistac Natural area, which technically is not a park but a great open area with space to walk and see local wildlife and natural bay area plant life. There have been sightings of coyotes and beavers in the Ulistac, and of course, it's a great place for birdwatching. I have a great <a href="https://youtu.be/Odmi7ABxLes">video</a> on Ulistac if you would like to learn more about this unique Santa Clara gem.
Santa Clara libraries
Santa Clara has three libraries. There’s Central Park Library, which is the largest and is located right next to Central Park. There is the mission library in the 95050 area of the city by downtown and the Old quad neighborhood. There is also the city’s newest library, the Northside library which is within walking distance of Rivermark and Rivermark Plaza. The libraries are all state of the art and provide several services to the community.
<br /><br />Other factors to consider:
Santa Clara utilities
Santa Clara has its own private power company, Silicon Valley Power, which produces electricity for all its residents. The cost is lower and more reliable than PG&E, California’s energy monopoly.
Santa Clara features Kaiser Permanente Santa Clara Medical Center and Medical Offices, which is one of the largest hospitals in the South Bay
Opened in 2007, and located on Lawrence Expressway and Homestead RD, the Santa Clara Kaiser is one of the largest hospitals in the South Bay with 327 beds, 17 operating rooms, a 24-hour emergency room, and a level 1 trauma center.
Traveling in Santa Clara
Proximity to San Jose International Airport, SFO, and Oakland International Airports.
Levi’s Stadium
There's Levi’s Stadium - NFL Football games, other sporting events, and concerts.
Great America
If you like Amusement Parks there is Great America - The top amusement park attraction in the Bay Area.
Senior Center
The Santa Clara Senior Center is free to our resident seniors and features an indoor pool, gym, and exercise classes.
<br />Santa Clara University
California's oldest higher education institution. You can enjoy nice evening walks through the Beautiful campus and visit the Santa Clara Mission.
Trails
San Tomas Creek Trail is a paved trail for walking, running, or bicycles that leads to the bay.
Carmelite Monastery
Just a cool place to walk around and explore. A little history for some of you history buffs, the opening of Jack London’s Call of the was written and based on a ranch that was located on this property.
The city of Santa Clara hosts an assortment of events
The city hosts several events each year: such as the Santa Clara Parade of Champions, Santa Clara Art and Wine Festival, Winter Ice Rink and Christmas Tree Lighting Ceremony, and 4th of July Central Park Celebration and Fireworks.
Santa Clara also provides some very valuable services such as the Yearly Cleanup where once a year you can put out and discard your unwanted items on your curb and the city's street department will pick them up.
Enjoy slightly lower property taxes than San Jose and no City transfer taxes when you buy or sell a home in Santa Clara.<br /><br />An important detail about Santa Clara Housing
One thing to note about Santa Clara Housing is that Santa Clara consists of three distinct Zip Codes: 95051, 95050, and 95054. Each Zip code has its unique advantages and disadvantages when it comes to housing. Most of the top neighborhoods in Santa Clara are gonna be located in the 95051 zip code, located in the southern part of the city, along Pruneridge Avenue.
Neighborhoods like Laurel Park, Forest Park, Westwood Oaks, and Killarney Farms are located in this area. But you’ll find pockets of great homes and neighborhoods throughout Santa Clara. One unique development that contains newer contemporary homes is the Rivermark Development located in the Northern Part of the city. This area features contemporary housing developed in the early 2000s and has close proximity to jobs and great schools.
The Cons of this area are the surrounding area is not as consistent in its makeup. There is a mixture of housing, commercial and industrial property in that northern Santa Clara Zone. Rivermark is also in close proximity to the San Jose Airport and is directly under the flight path, so airplane noise is very prevalent in this area, however, if you fly often, this could be a pro.
No Trader Joe's
The only thing Santa Clara is missing is Trader Joe's. This is definitely a con if you are like me and you love Trader Joe's.
No downtown or business district
Many people will remark that Santa Clara doesn’t have a downtown. Santa Clara’s downtown is actually located in the old quad area of the city near the university. Unfortunately, the original downtown was destroyed during urban renewal in the 1960s.
I have a great video on downtown Santa Clara’s history if you are curious and want to learn more about the history of downtown, the link is right <a href="https://youtu.be/fkXsAQ0tL5Y">here</a>, or you can find it on our <a href="https://www.youtube.com/channel/UCLm8z36OVUygOj1XjgXyD_Q">Santa Clara Living YouTube channel.</a>
Unfortunately when the downtown was redeveloped it lost all of its original characters. Currently, the Downtown mainly consists of Franklin Mall, which is like a town and country-style shopping center, and University Plaza. There are still some cool shops, cafes, great restaurants, and pubs Downtown, but it's not what you would expect of a downtown:
Taplands
Rantai
Mountain Mikes Pizza
Jasmine Thai
Jiaren Cafe
I want to point out that there is a <a href="https://reclaimingourdowntown.org/">movement to revitalize the downtown</a>, and likely to be some big changes in Downtown Santa Clara’s future.
City lack consistency
Poor planning of the city in the past has made Santa Clara somewhat spotty, one could say that the city lacks consistency.
Limited trails
Besides the San Tomas Creek Trail, there are not a lot of Walking or Biking Trails.
Located in the flat part of Silicon Valley
Santa Clara is fairly suburban and it's located in the low part of the valley and very flat.
Flood insurance
There are some FEMA-designated flood zones in Santa Clara that will require you to carry flood insurance.
No major Golf Courses in Santa Clara
There are no major Golf Courses in Santa Clara.
Santa Clara had a great 18-hole municipal golf course, but it has been closed down for several years and will be the location of a new future mix-use development. Currently, Santa Clara does have a great 9-hole golf course with a driving range, the Pruneridge Golf Club.2022-06-15T16:50:00-07:002024-01-16T18:16:13-07:00Admin Marketingtag:thebrasilgroup.com,2012-09-20:13468How Do Real Estate Commissions Work?How do Real Estate Commissions Work?
As a homeowner who is considering selling their home, it’s important to understand how real estate commission fees work.
Since the traditional real estate brokerage model does not employ salaried or hourly agents, listing and buyer agents work strictly on commission. When these agents represent a buyer or a seller on a transaction they are paid a commission, which is generally a percentage of the sale price after the home closes escrow.
For the sake of simplicity I will use the terms broker and agent interchangeably.
Generally speaking, the home seller pays the listing brokerage a commission. Through the multiple listing service or MLS, the listing brokerage will advertise a portion of that commission (typically 2.5% in our area) to any broker/agent that represents the buyer on the purchase. The listing broker/agent in this scenario will represent the seller exclusively and the buyer’s broker will represent the buyer exclusively.
<img src="https://assets.site-static.com/userfiles/1078/image/Blog_Images/Real_Estate_Commission_1.jpg" width="1024" height="573" /><br /><br />What are the Real Estate Commissions in Santa Clara?
There are no set amounts for real estate commissions in our area. They are negotiated between the seller and listing broker and can be influenced by local traditions and the market.
In most real estate transactions there are two agents involved, with one side representing the seller and the other representing the buyer. Each of these agents are paid a commission when the sale closes. In our current market, buyer agents are typically compensated at a 2.5% commission rate. This is set on the MLS when the property is first listed.
It is important to understand how much the listing agent will offer as compensation to the buyer’s agent. Once you understand what portion of the commission is being offered to the buyer’s agent, you will understand how much the seller’s agent will be earning on the deal.
In a scenario where the total commission is 5%, the listing agent could specify on the contract that 2.5% will be offered on the MLS to a buyer’s agent, and the remainder will be the listing agent’s compensation. Whereas in a case where the commission is 4%, a listing agent may specify a 2% of the sale price to be paid to the buyer’s agent. A seller should be aware that this amount is below the 2.5% market rate that is being offered on most deals, and may hinder or impact the sale.
Commissions in our area vary greatly since different real estate brokerages have business models that cater to specific properties or seller needs. As a seller, consider an agent’s value proposition in relation to what they are charging. Also remember to keep in mind how much the buyer’s agent will be compensated.
<a href="https://www.santaclararealestateguy.com/commissions-at-the-brasil-group/" target="_blank"><img src="https://assets.site-static.com/userfiles/1078/image/Blog_Images/Listing_Fee_Image.JPG" width="718" height="495" /></a><br /><br />Full Service Model: (Coldwell Banker, Intero, Compass)
As the name implies, with this service model all of the services will be handled- however these services can vary between agents and their definition of full service will be different. A full service agent should be a full-time real estate professional who will be your main point of contact. This agent should have several years of experience listing homes, familiarity with your area’s market and its conventions, and be able to advise you on current market conditions as well as which improvements to your home will maximize the best return. The value proposition of the agent or team should be extensive and offer all the latest techniques and technology to get your home sold for the highest price.
Full service should also come with the expectation that this professional or team will handle the management of the entire project. This includes coordinating inspections, repairs, updates, staging, cleaners, landscaping and all other preparations needed to get your home listed, marketed to the right buyers, and sold.
Expect your full service agent to provide high quality photo images, home staging, and professionally printed full color brochures. In our market this is typically paid for by the agent, but may not be offered by all full service agents or teams. Other marketing may include unique tools like a property video, 3D Matterport tour, and featured syndication on websites such as Zillow and Trulia, as well as paid Facebook and social media advertising. In addition expect that your full service agent will handle open houses, showings, negotiation of offers and offer presentation. Because of the agent’s experience and local awareness, he or she should provide unique insight regarding the quality of offers and prepare the seller on what to expect.
Finally, expect your full service agent to be in direct communication with you. Giving you weekly updates on the market and showing activity for your home. This full service agent needs to be aware of your home’s value and how it compares to the competition, any new listings in the area, and any recent price drops making sure that your home does not lose any equity in a falling market.
The full service agency will and should offer the highest levels of service and marketing, but charge a commission that supports their level of service. In Santa Clara, the expectation is that these full service firms will charge between 5%-6%, however, they can vary.
<img src="https://assets.site-static.com/userfiles/1078/image/Blog_Images/Real_Estate_Commission_2.jpg" width="1024" height="682" /><br /><br />Discount Model: (Redfin, Upnest, REX)
The Discount Model as the name implies should cost less than the full service model and not offer as high of a level of service. Their value proposition is that they save their sellers thousands in sales costs. With the discount model a seller should expect a fixed or set cost that is not up for negotiation. Firms who follow the discount model may advertise a 1%-1.5% listing fee. Together with the buyer’s agent commission of 2.5% the total commission is likely to be between 3.5%-4%.
Some discount brokerages like REX advertise one fee that does not include a buyer’s agent commission. Keep in mind that under this model the home will not be listed on the MLS.
Discount brokerages may be structured where the seller may need to deal with several contacts versus having one set point of contact throughout the transaction. These brokerages will not offer the same extensive service and marketing as a full time agent/broker and are not likely to specialize in the seller’s specific area.
The discount service provider may have various marketing offers such as professional photos, full color brochures, open houses, and MLS marketing. It’s likely that a discount broker will not offer free staging or more involved services like project management for updates or repairs. Check with the specific discount agent to understand their service offerings.
Flat Fee Model:
The Flat Fee Model is the most straightforward model, and is designed to simply get the seller’s home listed on the MLS. Seller’s should keep in mind that this model resembles a for sale by owner scenario, where the seller performing most of the duties of the real estate agent. Many of these firms operate on a national or statewide basis so they are not familiar with the local market.
Seller’s should expect a fixed price that does not correlate to a percentage of the sales price in this model. These agencies will charge from $100-$1000 to get your home listed on the MLS. Keep in mind that this does not include the compensation to the buyer’s agent which can be 2.5%.
The flat fee broker services will vary depending on the various packages they offer, but mainly provide a bare-bones service to sellers. As a seller, expect that your home will be listed, but you will have to do most of the work like open houses, showings, provide photographs, staging, pricing, deal with inspections, and negotiations.<br /><br />Our Model (The Brasil Group):
Based on the level of service we provide, we consider ourselves a full service company, with a dedicated and experienced professional serving as your one direct point of contact.
Although we are a full service company our commission model does not follow the traditional full service brokerage model. When factoring commission we look at the home’s value, work and services involved in preparing the listing, and we propose a commission rate that is consistent with our income model.
Generally we charge our sellers anywhere from 1.5% to 3% in listing commissions and recommend a 2.5% buyer broker compensation commission, this is entirely up to the seller.
As a full service company we provide a comprehensive suite of marketing tools and services that are designed to get your home sold for the highest price. Being a local firm that specializes in Santa Clara, we provide unique insight into the market conditions, homes, neighborhoods, and offer information that only a specialist in your area can.
Our listing service is designed to handle all aspects of listing and selling a home. We want to make the process as smooth as possible and handle as much of the responsibilities of preparing the home. Our full-service listing service, the Complete Selling Solution includes a professional consultation to assess your home’s value, discuss your needs and expectations for the sale, and establish a custom strategy to get your home sold.<br /><br /><br /><br />
Download Our Complete Selling Solution Guide
<a href="https://rplg.co/sc-home-selling-guide" target="_blank"><img src="https://assets.site-static.com/userfiles/1078/image/Blog_Images/Selling_Guide_Image.jpg" width="240" height="300" style="display: block; margin-left: auto; margin-right: auto;" /></a>
Our complete selling guide goes through the entire process of getting your home ready to be marketed and sold for top value.
You can download a copy below.
<a href="https://rplg.co/sc-home-selling-guide" target="_blank">Download</a>
We will handle the ordering of inspections, consult you on repairs and updates that should be done to maximize your return, recommend our team of qualified experts to handle the repairs, and manage the project from beginning to end. Our marketing includes high-quality photos, home staging, professionally printed full-color brochures, video shoot, 3D Matterport tour, syndication on Zillow and Trulia, and targeted Facebook and social media advertising. All of these services are included and at no cost to the seller.
We know the Santa Clara market, and understand that our sellers have different needs and properties. That’s why we have designed a flexible commission structure that is tailored to the needs of the sellers and their homes. We take into consideration the need for the various services we offer, the condition of the home, and the home’s value when determining a cost for our services. Our listing commission can be as competitive as a discount agency in some cases, but offer services of a full-service brokerage.
For more information please contact us for a home consultation where we can discuss your home’s value, your objectives, commission, as well as a plan to get your home sold.2022-04-08T11:11:00-07:002023-10-24T16:09:05-07:00Transaction Coordinatortag:thebrasilgroup.com,2012-09-20:18452Moving To Santa Clara
<br /><br />Are You Thinking of Moving to Santa Clara?
If you’re thinking of moving to Santa Clara, there are a number of great reasons. Santa Clara has great benefits for families such as family-friendly neighborhoods, great private and public schools, and fun entertainment options for all ages. does have cons as well.
City of Santa Clara
Santa Clara has a rich history here in California, with a Spanish mission dating back to 1777.
Santa Clara features a population of around 130,000 residents and is located in the center of Santa Clara County. A large tech center, Santa Clara is home to a number of top tech firms like Intel, Nvidia, Applied Materials.
As a town in the late 1800 and early 1900’s Santa Clara was world-famous for its horticulture
Producing Prunes, Apricots that were shipped all over the world...
The city boasts a world-class university, the University of Santa Clara… It is home to the 5-time Superbowl champions, the San Francisco 49ers, and is the center of Silicon Valley, home to the biggest tech companies in the world.
Santa Clara is a medium-sized city and is located in the Santa Clara Valley, and is part of Santa Clara County, I know that's a bit confusing, but at least you won't forget where you live.
Santa Clara is roughly 1300 square miles in size and is situated in the middle of “Silicon Valley” bordering the cities of Sunnyvale and Cupertino in the west, and San Jose to the east.<br /><br />Santa Clara Weather
The climate in Santa Clara is very temperate. There are a couple of weeks in the year when temperatures will reach above the ’90s and generally the coldest temperatures will be between 30-40 degrees in the winter, with no snow. Expect around 260 sunny days per year.
On average we receive about 15 inches of rain per year. The last few years have been short of that and we are currently experiencing drought conditions. All of California is experiencing a drought. Water conservation throughout the county is highly advised.
Santa Clara Diverse Population
Santa Clara has a population of about 120 thousand. It's a growing and diverse population with people from all over the world. Culturally Santa Clara is a great place to live, with lots of ethnic stores and restaurants. Interesting fact, at one time Santa Clara had a large population of Portuguese immigrants and still has one of the oldest Portuguese halls in all of California, built in 1896.
Santa Clara Homes
In addition to its diverse population, Santa Clara has some diverse housing options available. There are around 25,000 privately owned homes in Santa Clara. This consists of about 18,000 Single-family homes and 7000 condos and townhomes. There is a good amount of new townhome and condo development happening in the city so that number is increasing yearly. The vast majority of Santa Clara single-family homes are made up of post-war ranch-style homes that were built in the 1950s and 1960s. Roughly about 65 percent of the housing is made up of this class. Roughly about 15% was built before 1950, and less than 10% was built in the last 10 years. As far as condos and Townhomes are concerned, 25% of townhomes and condos have been built in the last 20 years and that number is growing every year.<br /><br />Santa Clara Zip Codes
The best way to understand Santa Clara is by breaking down its different areas or Zip Codes. Santa Clara comprises 3 different zip codes: 95050, 95051, and 95054. Each Zip code is unique and offers different housing options, amenities, and advantages.
95051 - The Largest Zip Code
The 95051 zip code is located in the South-Western part of the City, bordering the adjacent cities of Cupertino and Sunnyvale. 95051 features some of the best schools in the city and boasts proximity to Apple Computer, and is more convenient to jobs along the peninsula like Google and Tesla motors. It's also where Santa Clara’s central park and Main Library are located. 95051 is the largest zipcode in Santa Clara with around 13,000 homes, $10K of which are single-family homes. This area includes some of the best and most sought-after neighborhoods in Santa Clara and is Santa Clara’s priciest Zip Code. The median price home in 95051 is about $1.7M and that would get you roughly about a 3 bedroom 2 bath single-family home. A 2 bedroom condo starts around $700K and can go as high as $900K. Townhomes can vary quite a bit depending on age and size. But on average a 3 bedroom townhome can range from around $900K and $1.6M. Single-family homes in this area consist almost entirely of Post War Ranch Style homes, with some smaller-scale new developments mixed in. There are several condo and townhome complexes here.
95050 - The Second Largest Zip Code
95050 is the second-largest zip code with roughly 9500 homes. Just east of 95051, where San Tomas Expressway makes up the dividing line between both zip codes and borders the city of San Jose to the east and south. Pricing here is a bit lower than 95051. The Median price for a Single Family Home in 95050 is about $1.5 - $1.6M. That would get you around a 3 bedroom 2 bath home approximately 1400 sq ft. Condos range in price from $600-$800K, and 3 bedroom townhomes from $800K to $1.3M depending on size and age. 95050 is the old part of the city. The downtown is located here, where the beautiful Santa Clara University campus resides, home to Mission Santa Clara and the Carmelite monastery. An important detail here is that Santa Clara’s downtown is currently in plans to be completely revamped (for more details see my video on Downtown Santa Clara). Because Santa Clara was an agricultural center, you will see some beautiful historic homes in this part of the city and all sorts of classical architecture. The advantages of living in 95050 are a bit more affordable than 95051. This area of the city has the city's cultural destinations, it's closer to posh showing destinations of Santana Row and Valley Fair.
95054 - The Smallest Zip Code
95054 is the smallest zip code with roughly 4500 homes, consisting of 1800 townhomes and condos and about 2700 single-family homes. 95054 is located on the north side of the city, bordering Sunnyvale to the west, the bay to the north, and San Jose to the East. This portion of the city was traditionally the commercial and industrial zone of the city. It's where Intel and Nvidia are headquartered, and several other tech companies have office space. Real Estate in 95054 is quite diverse. This portion of the city has some of the newest construction and is evolving with more residential and retail. Although 95054 does have some older ranch-style homes, it's where you will find most of the new construction homes and communities built in the last 20 years. The median price of a single-family home in 95054 is about $1.4M, and that would get you a 3 bedroom 2 bath home around 1500 sq ft. Newer homes in 95054 average around $2M; 4 bedroom 2.5 bath homes are around 2000 sq ft. This zip code includes the Rivermark, and Rivermark Plaza Shopping center, Santa Clara Square, Six Flags Great America Theme Park, Levis Stadium (home of the 49ers), and the Ulistac natural area. The average price for a Single Family Home in 95054 is about $1.4 M, which would get you a 3 bedroom 2 bath home approximately 1400-1500 sq ft. Advantages of 95054 are proximity jobs, newer construction homes, and communities, some of the top schools are in this area. Disadvantages can be noise from airplanes flying from San Jose Airport.<br /><br />Favorite Santa Clara Neighborhoods
Some of my favorite and what I consider to be some of the best Santa Clara neighborhoods are Forest Park, Laurel Park, Westwood Oaks, Killarney Farms, and San Tomas Woods. These are all situated in 95051. If you are looking for Newer Homes, several developments throughout the city are available.
Most notably is the greater Rivermark area which consists of the Rivermark master plan community and several surrounding townhome and condo developments. There is the Nuevo community that was recently developed by Summerhill homes in 95054. This development features some single-family homes, townhomes, and condos. The Rivermark area is located on the northern boundary of the city, north of Highway 101, and offers a convenient commute as most tech companies are located off highway 101. The Greater Rivermark area has about 1900 homes, consisting of about 550 single-family homes, 1350 townhomes, and condos. Average Rivermark Single Family Home is about a 4 bedroom 2 bath 2300 sq ft home and priced over $2M. Average Rivermark Townhome/Condo is a 2 bedroom 2 bath home about 1400-1500 sq ft. And costing just over $1M.
Central Park Community located in 95051 was developed about 10 years ago featuring single-family homes and townhomes, just walking distance to Santa Clara's top park. There are various townhomes and small-scale single-family home communities scattered throughout the city, such as Naya, Villas on the Boulevard, Catalina, Mission Gardens, and Robin Run.
If you are looking for classic architecture there is the Old Quad located in 95054. The Old Quad has a mixture of historic home styles such as Victorian, Edwardian, gothic revival, and craftsman-style homes. Some of these homes belonged to Santa Clara’s most prominent families and business people, such as the Morse Mansion. Many modest homes were built at the turn of the 20th century. Pricing can vary dramatically in the Old Quad.
Conclusion
As you can see there is quite a lot to know about Santa Clara and Santa Clara Real Estate. If you are considering a move to Santa Clara, I would love to be a great resource for you.2022-03-23T18:17:00-07:002022-06-17T11:20:12-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:12540Best Home Improvements To Do When Selling
You are ready to list your home for sale, but you want to make sure your home will fetch the highest and best price.
Selling your home for the highest price is great, but netting the most money when you do sell your home should be your goal when planning your home improvements.
This article will help you understand how to maximize your home’s value and get the best return on your investment with repairs and updates.
All the details you need to know on what home improvements to focus on before you sell.
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/elementor/thumbs/Fix-House-1-oyyct2u579leijeo1sx7hcxkmsqdt3tefc3bk6n9u0.png?lossy=1&strip=1&webp=1" width="290" height="400" />
Planning Your Home Improvements Before You Sell
Here are the important things to consider when planning your home improvements
Understanding what buyers are looking for in your area is the key to knowing how to fix your home up and get the best return.
Know your market and how your home stacks up against the competition.
Look at your home objectively to identify your home’s strengths and weaknesses prior to doing any work and putting it on the market.
Devise a plan that will get your home from its current state to the state that it needs to be in to make buyers fall in love, while at the same time not overdoing it and not wasting money on repairs or updates that won’t make a difference.
Approach fixing up your home to sell by developing a priority list. Priority should be given to the items that will bring the highest return, and be prepared to nix things that won’t make a big enough impact.
What Are Buyers Looking For in a Home
Let’s identify what buyers are looking for when they are shopping for homes. Home buyers want bright, open, fresh, and contemporary feeling homes. Ideally, buyers would like a home that feels like a new home.
In the local market, new homes are hard to come by and often come with a high price tag that many buyers can’t afford. Housing in the local market mainly consists of post-war tract homes built in the 1950’s and 1960’s.
In order to attract buyers we need to think of how to transform your 1950’s tract home into a bright, open, fresh, and contemporary home that buyers will love without overdoing it.
Seller Tip: Keep in mind that many sellers put too much money into fixing up their homes before listing them for sale. They focus on areas or flaws that buyers don’t care about or just won’t pay extra for.
<img class="attachment-large size-large lazyloaded" src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home.jpg?lossy=1&strip=1&webp=1" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home-300x200.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home.jpg?size=384x257&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home-768x513.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home.jpg?lossy=1&strip=1&webp=1 1024w" alt="Santa Clara Home Buyers" width="1024" height="684" data-srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home-300x200.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home.jpg?size=384x257&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home-768x513.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home.jpg?lossy=1&strip=1&webp=1 1024w" data-src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/08/family-at-new-home.jpg?lossy=1&strip=1&webp=1" data-sizes="(max-width: 1024px) 100vw, 1024px" />
Know Your Home and Market Before You Sell
There are a number of factors besides the condition of your home to consider before making any repairs or updates when selling. Things like the current market, competition, your home’s location, and the season will all influence how to get your home ready to sell.
If your home is located in a highly sought-after area or neighborhood and there isn’t too much competition on the market, then you shouldn’t have to do a lot to get your home noticed.
However, if your home is a typical home in an average neighborhood and you are selling in the prime selling season, you may have to do quite a bit to make sure your home stands out from the competition.
The important thing to note here is to consult with an agent who specializes in your area and knows the market.
This can save you thousands of dollars and avoid lots of headaches. Smart sellers will contact an agent well in advance to strategize and time the sale for optimal results.
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/06/IMG_8700-768x512.jpg?lossy=1&strip=1&webp=1" alt="" width="301" height="200" />
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/5IMG_1164-768x512.jpg?lossy=1&strip=1&webp=1" alt="" width="301" height="200" />
What Improvements Can Increase a Home’s Value
Let’s start with improvements that give you the highest return and the best bang for your buck when getting your home ready for buyers in our market.
Interior Paint – This is the best improvement you can make to a home to make it look bright and fresh. Unless the home’s interior paint is in great condition and is within the range of stylish and acceptable color palate than we generally paint the interior of most of the homes we sell.
Knowing which colors to use that are popular and contemporary among today’s buyers and work with your flooring and lighting are key when selecting paint colors.
Exterior painting – A home’s curb appeal is important. That’s not to say that it’s more important than a home’s interior, but a home’s exterior makes a homeowner proud. Sitting out front and admiring how nice your home looks is a wonderful feeling, and as a seller it’s the type of feeling your want to convey to buyers who are in the market to buy your home.
When painting the exterior make sure to chose a contemporary color scheme and be sure to consider things like roof color, exterior stonework, and even neighboring homes when choosing your home’s color.
Flooring – Like interior painting, a home’s flooring extends throughout the home and leaves a powerful impression on buyers. Modern flooring is light, textured, and looks natural. It’s important to pick out flooring that compliments your interior, is contemporary, and looks beautiful.
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/cabinet-hardware-updates-284x300.png?lossy=1&strip=1&webp=1" alt="" width="284" height="300" />
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/elementor/thumbs/living-room-lighting-update-p2057ye1tgsntca2vln632qmh6616intkpgtj1gybc.jpg?lossy=1&strip=1&webp=1" alt="" width="300" height="300" />
Interior Improvements
Hardware – Change out door handles, hinges, knobs, door stops, etc.
Lighting – Update bathroom lighting fixtures, exterior and interior lighting fixtures
Recessed lighting – 1950’s homes in Santa Clara are typically ranch-style homes, and those were designed with large overhangs to keep the heat out. Unfortunately they often take away from the home’s natural light. Recessed lighting can really brighten up a home’s interior and make it feel modern.
Wall Switches & Outlets – Replace outdated, discolored switches and outlets, with bright white contemporary ones. Old switches and outlets will remind the buyers of the homes age and the age of the electrical system. This is an improvement that isn’t too expensive, but again extends throughout the home.
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/elementor/thumbs/IMG_3188_89_90_91_92_93_94-2-1600-p21oqvy4znz1i4vmxkadpqc1rdwb1zhxmaoyi8423k.jpg?lossy=1&strip=1&webp=1" width="370" height="370" /><img src="https://886986.smushcdn.com/2107907/wp-content/uploads/elementor/thumbs/16IMG_1066-oyy9xw3yy0bnizy894j58ahwm6vlje70b4ekxp45uo.jpg?lossy=1&strip=1&webp=1" width="370" height="370" />
Kitchens and Bathroom Improvements
Now we are getting into the expensive and very important components of a home, the kitchen and bathrooms. This is where homeowners can really spend a lot of money and where costly mistakes are often made.
Keep in mind that large-scale projects don’t usually translate into good returns on your investment when considering the best improvements to do before you sell.
Home improvements that make an impact for less money are the way to go and easiest to identify.
Seller Tip: Important tip, when considering what repairs or updates to do before you sell. You must take into consideration the condition of your entire home and not just specific areas such as kitchen or bathrooms.
Bathrooms – Remodeling bathrooms can be expensive. In order to make sure that your bathroom improvements are going to result in the return you expect, you have to compare them to the rest of the home and see how they fit in.
One way to evaluate your home’s bathrooms is to see if they are showing their age. Is there a way we can update the flooring, vanity, countertops, toilet, or fixtures to give it a nice clean and modern look without a full-blown remodel?
If there is a way to add functionality or space that could really add value to the bathroom it may make it worthwhile to do a full remodel.
For instance, Santa Clara bathrooms are typically on the small side, especially the master bathrooms. If there is a way to enlarge the shower stall or vanity area and make the space more desirable to buyers in our market, then a full remodel may be worth the expense.
If there is wood damage to a bathroom from a leaking shower or toilet and the recommendation is to remove the shower stall. Such a remodel would take care of two issues, an outdated bathroom and structural damage that could scare away potential buyers.
Kitchens – By far the most expensive room in the house, kitchens are the area that can potentially make or break a sale. Many buyers are looking for spacious, bright, open, and remodeled kitchens. Just because you remodel a kitchen it may not meet a buyer’s criteria.
A properly designed and laid out kitchen can really excite buyers and give sellers a big return on their investment. A poor design can have an adverse effect.
Santa Clara homes typically have small to medium sized kitchens that don’t meet the expectations of what today’s buyers are looking for. Before you decide on a full kitchen remodel you’ll want to evaluate what options you have to make your existing kitchen passable to buyers.
If you come to the conclusion that the kitchen must be remodeled. Are there opportunities to make design improvements such as adding more storage or counter space that can add more value.
One other major factor to consider when thinking about remodeling your kitchen is the electrical. In many cases, your home’s electrical panel will be insufficient and will likely require an upgrade to modernize your kitchen.
<img src="https://886986.smushcdn.com/2107907/wp-content/uploads/elementor/thumbs/7-before-2-oyycr75rj706u0soowzlyq6dh7jr50djkjmizawn8g.jpg?lossy=1&strip=1&webp=1" width="370" height="370" /><img src="https://886986.smushcdn.com/2107907/wp-content/uploads/elementor/thumbs/7-after-2-oyy7j3ofwpijj60n1lz906xq1enithn8djwlpxssdc.jpg?lossy=1&strip=1&webp=1" width="370" height="370" />
Creative Improvements that Add Value
Lastly, improvements that can open, brighten, or make a home more functional or add useful space can turn a negative space into a positive space and add lots of value.
For instance, a wall that can be removed or added making a space more attractive or valuable to a buyer.
Is there an awkward element to a space that if removed could render the area more usable?
Can you add a bedroom or office space, or open up an area that will make the overall area feel brighter and larger?
These are the sort of items that should be considered because they add real value and remove objections from prospective buyers of your home.
Be Cautious with these Home Improvements
These last areas where home improvements can be made need to be very carefully considered if you are fixing up a home to sell. Generally, these improvements don’t bring a return on investment to the seller. In most cases, you would leave them be.
<img class="attachment-medium_large size-medium_large lazyloaded" src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-768x512.jpg?lossy=1&strip=1&webp=1" sizes="(max-width: 768px) 100vw, 768px" srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-300x200.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927.jpg?size=384x256&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-768x512.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-1024x683.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-1060x707.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-1536x1024.jpg?lossy=1&strip=1&webp=1 1536w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927.jpg?lossy=1&strip=1&webp=1 1600w" alt="finished garage" width="768" height="512" data-srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-300x200.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927.jpg?size=384x256&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-768x512.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-1024x683.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-1060x707.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-1536x1024.jpg?lossy=1&strip=1&webp=1 1536w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927.jpg?lossy=1&strip=1&webp=1 1600w" data-src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/03/56IMG_5927-768x512.jpg?lossy=1&strip=1&webp=1" data-sizes="(max-width: 768px) 100vw, 768px" />
Garage – Garages are important, they store and protect your car, provide a large area to store things, and if you live in Santa Clara you are likely doing your laundry in your garage.
The idea of having a bright and clean garage may seem like an obvious improvement to you and it is to most buyers. The priority or the importance of the garage is not as high up on buyer’s list of considerations as other aspects of a home.
Therefore finishing a garage or adding epoxy floors or storage systems to a garage are generally not enough to impress buyers and motivate them to make an offer.
<img class="attachment-medium_large size-medium_large lazyloaded" src="https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-768x509.jpg?lossy=1&strip=1&webp=1" sizes="(max-width: 768px) 100vw, 768px" srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-300x199.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600.jpg?size=384x255&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-768x509.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-1024x678.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-1060x702.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-1536x1018.jpg?lossy=1&strip=1&webp=1 1536w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600.jpg?lossy=1&strip=1&webp=1 1600w" alt="modern windows" width="768" height="509" data-srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-300x199.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600.jpg?size=384x255&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-768x509.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-1024x678.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-1060x702.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-1536x1018.jpg?lossy=1&strip=1&webp=1 1536w, https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600.jpg?lossy=1&strip=1&webp=1 1600w" data-src="https://886986.smushcdn.com/2107907/wp-content/uploads/2021/01/IMG_3091_2_3_4_5_6_7-2-1600-768x509.jpg?lossy=1&strip=1&webp=1" data-sizes="(max-width: 768px) 100vw, 768px" />
Windows – Replacing a home’s older 50’s style windows, whether they are wood-framed, aluminum or other older style window can definitely make a positive impact on a buyer.
Today’s dual-pane windows are more energy-efficient, seal better, reduce exterior noise, open and close easier, and are generally better all around.
However, replacing the windows on an average home can be expensive. Ranging anywhere from 10K-20K, and can take months to order the windows.
Homeowners would need to plan ahead and should really consider whether replacing their existing windows for new windows before they sell is worth the trouble.
When preparing our listings we rarely ever upgrade the windows of a home and choose instead to work with existing windows.
The only exception would be if the existing windows were in such terrible condition that they really needed to be replaced. Perhaps some did not open or several were cracked or broken.
Buyers can easily contract with a window company to have their windows upgraded. Then they can decide if they want regular vinyl clad windows or want to upgrade to a designer or premium style.
Also they can choose additional features like Low-E glass, or even different styles like casement windows as opposed to sliders.
<img class="attachment-large size-large lazyloaded" src="https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-1024x283.jpg?lossy=1&strip=1&webp=1" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-300x83.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3.jpg?size=384x106&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-768x213.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-1024x283.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-1060x293.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3.jpg?lossy=1&strip=1&webp=1 1120w" alt="" width="1024" height="283" data-srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-300x83.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3.jpg?size=384x106&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-768x213.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-1024x283.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-1060x293.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3.jpg?lossy=1&strip=1&webp=1 1120w" data-src="https://886986.smushcdn.com/2107907/wp-content/uploads/2019/12/WEBcropped-vivint-solar-_XxvXRdacDo-unsplash-3-1024x283.jpg?lossy=1&strip=1&webp=1" data-sizes="(max-width: 1024px) 100vw, 1024px" />
Roof – A home’s roof serves two vital functions, prevents water from entering the home and also makes the home’s exterior look good.
In many cases, roofs are at or entering the end of their useful life and will need to be changed.
This is also another big cost item and can generally range in cost from $12K to $20K, depending on the size of the home and quality of the roof. When changing a roof we generally will upgrade the gutters to make the home’s trim look better, which is an additional expense.
If your roof is at the end of its useful life and you are considering whether to change it, here are some questions to ask yourself.
Is the roof currently leaking? If yes, then you should change it.
If the roof is not leaking, but at the end of its life and showing signs of excessive wear. If it’s taking away from the home’s exterior appeal then you may want to consider replacing it, but it still would not be a convincing argument for me.
A new buyer can easily have a roof installed and decide on the type of roof, add some skylights, and pick the color. The roof replacement can generally happen in 3 days and with very little inconvenience to the new owner.
The only time you may really want to consider changing out the roof is if there is a good amount of wood damage around your eaves.
The first thing to do is order a termite inspection and after you get the results you want to evaluate the wood along the eaves. If there’s quite a bit of damage to those eaves, changing the roof will also make it easier to repair the damage.
By replacing the roof you will benefit from being able to market the home with a new roof and take care of thousands of dollars worth of wood damage for very little cost.
If the roof is not leaking, there is a little bit of life in the roof and it looks fine, and there is not much damage along the eaves, then I would recommend leaving the roof. You can always get an estimate from a reasonable roofing company and just add it to the disclosures.
<img class="attachment-medium_large size-medium_large lazyloaded" src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-768x512.jpg?lossy=1&strip=1&webp=1" sizes="(max-width: 768px) 100vw, 768px" srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-300x200.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877.jpg?size=384x256&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-768x512.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-1024x683.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-1060x707.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-1536x1024.jpg?lossy=1&strip=1&webp=1 1536w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877.jpg?lossy=1&strip=1&webp=1 1600w" alt="tidy yard landscaping" width="768" height="512" data-srcset="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-300x200.jpg?lossy=1&strip=1&webp=1 300w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877.jpg?size=384x256&lossy=1&strip=1&webp=1 384w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-768x512.jpg?lossy=1&strip=1&webp=1 768w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-1024x683.jpg?lossy=1&strip=1&webp=1 1024w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-1060x707.jpg?lossy=1&strip=1&webp=1 1060w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-1536x1024.jpg?lossy=1&strip=1&webp=1 1536w, https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877.jpg?lossy=1&strip=1&webp=1 1600w" data-src="https://886986.smushcdn.com/2107907/wp-content/uploads/2020/10/26-IMG_1877-768x512.jpg?lossy=1&strip=1&webp=1" data-sizes="(max-width: 768px) 100vw, 768px" />
Tidying up the yard – Landscaping is an often overlooked aspect of a home. Because of the size of a lot or yard, landscaping can be very expensive.
A well-landscaped yard with hardscape, lawn, flowerbeds, shrubs, irrigation system and even a drainage system is hard to do and can be very costly.
As a homeowner, you may have enjoyed your yard and know its value, but buyers in our area typically don’t understand the costs of proper and quality landscaping.
As a result, the best bet is to do comprehensive clean up your yard. If your lawn is dead, you may consider adding sod, but that only makes sense if the rest of the landscape is in great condition.
Some people like to add flowers to give the look of the home more color.
While putting new sod down and adding flowers are not very expensive, the exterior improvements of a home are much lower priority than the interior.
So before you start to plan these exterior updates make sure the interior of your home is set up to impress buyers. No amount of exterior landscaping is going to help buyers overlook a home’s interior shortcomings.
Updating or Adding AC or Other Systems
Lastly, there are the systems of the home such as heating, AC, water heating, supply and waste plumbing, and electrical. These are essential components of a home and they need to be functional and safe.
Many buyers assume that these components work and won’t give too much consideration if you have upgraded your electrical panel, or newer water heater. Unless these items are not in operating condition or pose a safety concern they are best left alone, as upgrading them do not give the seller a significant return .
Many homebuyers take these systems for granted. They assume a home’s heating system or water heater work. Whether you splurged to buy the highest efficiency heater, a water softener, or a tankless water heater is really not going to be a strong motivator for buyers.
If anything you have to ensure that these systems are in good operating condition and they don’t pose any safety concerns.
Conclusion:
There’s a lot to consider here. It’s no wonder that many homeowners don’t know where to begin and end up spending more than they should.
Hopefully this article puts things in perspective for you and saves you some time and money.
Please post a comment below, let me know your thoughts or questions.
2021-01-30T16:21:00-07:002021-02-12T12:19:20-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:11143Selling Your Home During COVID-19Your Health is Our Priority— we have implemented the following measures to ensure a safe and successful real estate transaction.​
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Virtual open houses
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Custom property website and yard signage
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Sanitizing stations at our listings
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Masks and shoe covers required upon entry of the home
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Matterport 3D virtual walkthrough tour
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Social distancing enforced
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />2D virtual floorplan
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Full-range of targeted digital marketing services
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />All showings done by appointment only
<img class="wp-image-21444 alignleft" src="https://santaclararealestateguy.com/wp-content/uploads/2020/10/Checkmark-Graphic-232x300.png" alt="" width="25" height="33" />Digital signings offered at close of escrow
Frequently Asked Questions— Selling Your Home during COVID-10​
● Is this a good time to sell my house?
Without sounding too much like a Realtor, the answer is yes, it is a good time to sell your home.
The COVID-19 pandemic has altered the way real estate is being sold and new precautions to prevent the spread of COVID-19 have been implemented to protect buyers and sellers.
The real estate industry has also adapted certain practices to minimize interactions in order to help homeowners to buy and sell homes this time.
While the industry and its practices have changed, the current Santa Clara market remains very active. (<a href="https://replug.link/market-update">Read our Monthly Market Report on Santa Clara</a>).
We are currently experiencing low inventory and historically low-interest rates, and this is helping to stabilize the market.
Demand for homes is also healthy, as buyers who are living in apartments or small spaces look to take advantage of favorable interest rates to upgrade to a larger home.
● Are people still buying homes right now?
Initially, when COVID-19 infections began to rise and shelter in place rules were enacted, the housing market slowed considerably.
Many buyers hit pause on their home search for the time being due to all the uncertainty.
However, with low mortgage rates and renewed confidence in the market, buyers have returned. In many cases COVID has prompted many buyers who were renting smaller apartments into the market.
As of right now, the Santa Clara housing market is very active with home buyers.
● How much can I sell my home for in this market?
The best way to find out how much your home can sell for in this market is to contact a local real estate professional.
For convenience, you can use online home value estimation sites that provide recent sales comparables and trends. We recommend our tool, <a href="http://http//mySantaClaraHome.com" data-wplink-url-error="true">http://mySantaClaraHome.com</a> for online estimates.
To get an accurate estimate for your home you must factor in its condition, floor plan, and location—therefore its best to call a real estate professional who knows your area.
● How can I meet with Realtors while social distancing?
As Real Estate professionals, we are using teleconferencing apps to meet with clients remotely.
In-person meetings are possible, and precautions such as wearing masks and avoiding contact should be followed.
● How do I show my house while social distancing?
We are using a variety of tools to showcase our listings and minimize visits. These technologies include 3-D self navigable tours and video walkthroughs, 2-D floor plans, virtual open houses, property websites, comprehensive photo shoots, and video tours.
In-person showings are necessary for serious buyers, and we are taking several precautions to protect all parties.
Restrict physical showings to only serious buyers — who are qualified and have reviewed the property virtual tours and information.
Require that buyers sign a COVID declaration form, which indicates to the best of their knowledge, they’re not sick and have not been exposed to the virus.
Limit the number of people who can come through the home.
Providing PPE to visitors.
● Can I sell my home without any showings?
Serious buyers still would like to visit the homes in-person before making a purchase decision. There will also be visits by inspectors, appraisers— so selling a home without showings is still not realistic.
We understand this and are focusing on what we can do to minimize unnecessary showings and protect home occupants and visitors by following recommended safe practices.
● Is there anything I can do now to prepare to sell my house after things calm down?
Preparation when selling is always helpful and can save you time and thousands of dollars.
The best way to prepare is to meet with a real estate professional to help you assess your home selling goals and objectives, and design the best plan to achieve them.
They will help you determine what work needs to be done, the costs, time frames, and help you prepare for all the details or things to consider.
As Santa Clara specialists, our home selling service the <a href="https://santaclararealestateguy.com/selling-your-home-santa-clara/">Complete Selling Solution</a> is designed for this purpose. For more information contact us or download our <a href="https://rplg.co/sc-home-selling-guide">Complete Selling Solution Guide</a>.
2020-10-31T07:11:00-07:002020-11-13T13:00:34-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:11141Looking to Sell? Avoid These Home Improvement Mistakes
Although it may seem as though home improvements are a good investment and automatically increase a property’s value, that's not always the case.
Certain improvements won't raise a home’s value enough to repay their costs. Even worse— they can actually lower your home’s value.
If you’re thinking about improving your home and concerned about your home's value, be sure to avoid these three mistakes.
Patchy Improvements​
It's important to make sure your improvements look cohesive throughout your home. A beautiful and modern kitchen may be a great selling point, but if your bathroom and living areas look dark and drab, chances are that most buyers will be put off.
You are better off saving some of the money on your kitchen remodel and applying that to other areas of the home to give your home a more consistent and updated look.
A cohesive look throughout makes the home feel well-maintained and is more attractive to buyers than if one area of your home is getting all the attention.<br /><br />Poor Planning​
A poorly planned renovation can cause more problems than it solves.
For instance, if you are considering swapping out your flooring, try to make it level so that there aren't any unnecessary transitions from room to room.
If you are going to replace that hallway furnace, you may want to look into putting it in the attic or the garage to free up space in your home so you can eventually expand a bathroom or add a closet.
Try to plan out your improvements carefully so you don't run into issues in the future.
Over-Improvement​
The key to not over-improving is to take into account the average property types and values in your neighborhood. If you improve your home too far from your neighborhood’s level, you’ll have difficulty getting your money back.
Even if a buyer is willing to pay a premium the appraiser may find it hard to find comps to support the price.
However luxurious and attractive your home, if it doesn’t fit well into its area when it comes time for buyers to decide on a price they are going to look at the comps. If the comps are much lower than what you are asking, it will be hard for buyers to justify the difference.
They’re more likely to spend the money for a more basic home in a higher-value area.
If you’re planning to stay in your home, then go ahead and make improvements that will increase your quality of life. You may want to think twice if a future move is a possibility.
Keep in mind that not all improvements will pay for themselves, and some may actually make your home harder to sell.
Conclusion​
If you are worried about whether the improvements you are considering will be a good investment, contact your local real estate professional. They know what buyers are looking for, and where you need to invest money into your home to get the best return.
If you are thinking of selling and want to know which improvements will net you the best return, take a look at my post about <a href="https://santaclararealestateguy.com/home-improvement-projects-that-will-net-you-huge-home-value-increase/">selling and home improvements</a>.
I have written a lot on this subject, here are some other articles you may find helpful:
<a href="https://santaclararealestateguy.com/buying-or-selling-a-home-with-unpermitted-updates/">Buying or Selling a home with Unpermitted Updates</a>
<a href="https://santaclararealestateguy.com/should-i-fix-up-my-house-or-sell-it-as-is/">5 Easy and Inexpensive Ways to Update Your Santa Clara Home For Selling or Not</a>
<a href="https://santaclararealestateguy.com/should-you-fix-your-house-up-or-sell-now/">Should You Fix Your House Up or Sell Now?</a>
<a href="https://santaclararealestateguy.com/fix-it-or-not-what-to-ask-when-prepping-your-home-for-sale/">Fix It or Not? What to Ask When Prepping Your Home for Sale</a>2020-10-31T06:07:00-07:002020-11-12T00:32:05-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:11140How to Win in a Bidding War
With little inventory and low mortgage rates driving buyer activity, bidding wars are becoming quite common and competitive. As multiple-offer scenarios heat up it’s important to be prepared so you can put your best foot forward – quickly and efficiently.
Get a Underwritten Pre-Approval?
You should know by now that being pre-approved is the first step to buying a home. In this competitive market where buyers are waiving their financing contingencies, you should take your pre-approval one step further and get an underwritten pre-approval.
Underwritten pre-approvals have gone through an extra layer of lender scrutiny and that is what makes them so thorough. The underwritten pre-approvals are almost becoming the new pre-approvals as many buyers are opting to get this level of pre-approval. (For more about the difference of a Pre-Approval and an Underwritten Pre-approval check out our post on <a href="https://santaclararealestateguy.com/whats-the-difference-between-preapproval-prequalification/">Pre-Approvals</a>)
To feel more confident about your financing and make your offer stand out, request that your lender have your file pre-underwritten. If you are looking for a lender who can underwrite your pre-approval <a href="https://www.thebrasilgroup.com/contact/">contact us</a> for a list of our preferred lenders.
Make a Solid and Competitive Offer?
In a competitive offer situation, don't expect to get to a counter. In many cases, the sellers will just select the best offer.
How do you know what a solid and competitive offer is?
Your agent should understand the market and what type of offers are winning. Also, communication with the listing agent is important.
Your agent should develop a good rapport with the listing agent, and try to find out what details are important to the seller in order to ensure that your offer will stand out.
Will the seller need things like a rent back or a quick close? Or are they in the process of buying another home? These details are important in crafting an offer that will appeal to the seller's worries.
At the end of the day, your goal is to make sure your offer stands out among the others— with a strong price and terms that the seller is looking for.
Lastly, your agent will need to communicate frequently with the seller's agent on the offer date to find out what the level of competition is and as many details as possible to make sure you can write a solid and competitive offer.
Act Fast?
As the market gains steam prices can shoot up in our area, and shoot up quickly. In the last few months many houses have sold within a short time of being listed, and homes will likely sell even faster as the market gets hotter.
As soon as a home hits the market make an appointment to view it with your agent. Once you decide you are interested be sure to review the disclosures as soon as possible.
Your agent will need to communicate with the listing agent and ask about the process the seller is going to take to review offers.
In many cases, agents may be willing to look at offers before a set offer date or take what is referred to as a pre-emptive offer.
If you are sure about the home, your best bet is to try to buy it before other offers are made. The best way is to make a pre-emptive offer, and your offer will need to be convincing enough for the seller to accept it.
Personal Letter?
A personal letter can be a powerful tool to help your offer get noticed. These days lots of buyers are writing letters to sellers in hopes to persuade them to accept their offer.
Although sellers ultimately will be more focused on your offer's price and terms than a well-written letter, a letter will help you if you are neck in neck with another offer.
It's the thing that may help you connect with the seller and make them decide to sell you their home. Sellers also are leaving behind neighbors and want to make sure the next family would be a great fit for the neighborhood.
My advice is don't make the letter too long or too personal. Just one page or a few paragraphs is enough. Include a photo of you and your family if possible, and be sure to let them know who you are and why their home is so important to you.
Bottom Line?
Your agent is your key to winning in a competitive market. Their connections, network, and expertise are what will help ensure that you can buy your dream home.
I hope you got a lot of value from my write up on winning in a competitive market.
Let me know if you have any questions about our current market. If you are curious about the conditions of our current Santa Clara market, take a look at our monthly <a href="https://replug.link/market-update">Santa Clara Housing Market Update</a>.
2020-10-31T05:22:00-07:002022-08-30T07:55:24-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:10332Staying Safe While Buying or Selling a Home During COVID
What Your Santa Clara Realtors Must do to Protect Buyers and Sellers?
As top a Santa Clara real estate agent protecting our buyers and sellers is one of our top priorities.
For home buyers and sellers who are planning on making a move this year, there are a number of things to think about, and right up there is staying safe.
We have enhanced our processes and services to help limit interactions with our clients and while still providing a high level of service.
What can a real estate agent do to protect all involved?
Wearing masks and following the proper protocols when showing or selling homes is essential.
As agents the process of protecting our clients starts at the very beginning of the relationship, with understand their needs and educating them about the process and the market.
<img src="https://santaclararealestateguy.com/wp-content/uploads/elementor/thumbs/People-Prefer-Buying-home-oui8smrzp1i6wjxwbze0550pni3ftbr91qlt8ssc68.jpeg" title="People-Prefer-Buying-home" alt="Buying a home during covid" />
Buying a home:
Starting off with a comprehensive Buyer Consultation will help a buyer save time and money. Buyers will gain an understanding of the buying process, the current market, and will ultimately be better prepared and more focuses on their goals.
Here is what we discuss during our Buyer Consultations.
Buyer Motivations: schools, commute, home, neighborhood.
The lifestyle desires & priorities
Their criteria for features
The deal-breakers
Purchasing power and remodel budget
Property types, models, lot size, and all options
Pros and cons of different cities, neighborhoods and communities
Professional buyers agents do this level of buyer consultation upfront saving everyone time and helping their buyers reduce the need to drive to and walk through lots and lots of homes to self discover what they want.
Buyer Consultations can be conducted in the following formats
Virtually, via conference calls and video conferences
Safely meet at your home
If appropriate safely meet at our office in a conference room that I would sanitize in advance
A top buyers agent educates his buyers and narrows the focus to identify the right properties
Professional buyers agents can:
Understand market place: neighborhoods, homes, floorplans, schools, etc.
Safely preview the property for you
Create a video walk-through live virtual tour
Set up safe private showings coordinated with the listing agents
Access and review disclosures and inspection reports in advance to make sure property fits the clients needs.
Ultimately keeping people safe from lots of unnecessary exposure is the protocol for buyers and sellers agents.
For home buyers, this is truly when the value of a great professional real estate agent can make the difference in not only saving time, gas – drive time, provide unique hyper-local expertise and simply protect their clients.
Schedule your <a href="https://calendly.com/vbrasil/consultation">buyer consultation</a> by texting Vinicius at 408-582-3272
<img src="https://santaclararealestateguy.com/wp-content/uploads/elementor/thumbs/Finance-Tips-for-you-and-your-Elderly-Loved-Ones-oejs0emr9fvc1hoggpf8rp3dcidm92pf05ifr0jzxc.jpg" title="Finance-Tips-for-you-and-your-Elderly-Loved-Ones" alt="Finance-Tips-for-you-and-your-Elderly-Loved-Ones" />
Selling your home:
You want to sell your home but don’t want lots of unnecessary showings, you just want the most serious buyers to visit your home.
As top listing agents, there is so much that can be done to provide buyers with information about the home prior to scheduling a visit.
The information must be conveyed to buyers agents and home buyers in a convenient and comprehensive fashion so they can obtain all the pertinent information about the property before they schedule a visit.
The new home seller marketing plan:
For home sellers, we are adding NEW items to our marketing plan that limit unnecessary viewings and focus on attracting serious buyers to our listings.
Multiple Dedicated Listing Websites
Secure Website for Agents and their buyers to obtain disclosures and inspection reports
30-40 Wide Angle Professional Photographs
Drone Photography of home and Surrounding Area
Pre inspections and disclosures packages completed and available for download prior to listing
<a title="Matterport" href="https://www.previewfirst.net/3d-tours/">Matterport 3D Home Virtual Tours</a> – 3D Walkthrough of the listing with dollhouse view, floor plan view
2D floor plans with dimensions of rooms
In-Depth Property Websites that provide specific property information beyond what MLS provides.
Private scheduling system for viewings
PPE (masks, gloves, hand sanitizer) available before entering listings
Traditionally we would try to get as many buyers to come to visit the house.
Now the objective is to give them as much information as possible so that the more likely buyers with an intent to purchase are viewing the property.
Recently appointments for new listings on the weekends have filled quickly, making “hot listings” unavailable to view for buyers.
In this high demand low inventory environment, this strategy does not compromise the seller’s high sales price. Instead, it allows more available appointments for those serious buyers to visit the home.
For home sellers, we will be qualifying all the buyers showing requests in advance, screening the professionalism of the buyers’ agents with their buyers to mitigate any excess showings, and find the best possible buyer and sell them the home. Keeping everyone safe!
Now more than ever the professionalism of real estate agents is critical.
Contact Vinicius Brasil to book a consultation.
2020-08-27T17:46:00-07:002020-08-27T18:21:48-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:10321Looking to Buy a Home? Don't Make These Mistakes
LOOKING TO BUY A HOME DON’T MAKE THESE MISTAKES
<img width="1024" height="684" src="https://santaclararealestateguy.com/wp-content/uploads/2020/08/family-at-new-home.jpg" class="attachment-large size-large" alt="" srcset="https://santaclararealestateguy.com/wp-content/uploads/2020/08/family-at-new-home.jpg 1024w, https://santaclararealestateguy.com/wp-content/uploads/2020/08/family-at-new-home-300x200.jpg 300w, https://santaclararealestateguy.com/wp-content/uploads/2020/08/family-at-new-home-768x513.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" style="box-sizing: border-box; border-width: initial; border-style: none; border-radius: 0px; box-shadow: none; vertical-align: middle; display: inline-block;" />
If you plan on buying a home and plan on getting a mortgage be sure to keep reading.
The home mortgage process is very structured, loaded with rules and guidelines that you must follow in order to be approved. Remember, a bank is going to lend you hundreds of thousands of dollars if not millions, so it’s not too shocking that they want you to follow the path they have defined. Also, they will want to sell that loan, so it must meet the guidelines for the investment portfolio.
For buyers, our local market is always challenging. In our competitive market, you will be expected to already be pre-approved or have <a href="https://santaclararealestateguy.com/whats-the-difference-between-preapproval-prequalification/" target="_blank" rel="noopener" style="box-sizing: border-box; background: transparent; transition: all 0.5s ease-in-out 0s; color: #000000; box-shadow: none;">underwriter pre-approval</a>. In many cases, you may need to waive your financing contingency in order to get the home.
With your deposit and your dream home on the line, you will want to avoid certain financial activities until after you have closed on your home.
Things To AVOID When Buying A Home
Do not change jobs, become self-employed, or quit your job – One of the first things lenders will want to know (and verify) is your work history. They will use this information as the basis for the loan offer you receive, so if you change your job, even for what might be a better one, you very well likely could change your loan status. It’s best to wait until after you close before changing employment. Sometimes if you stay within the same industry it won’t be a big issue, but just let your loan officer know what is going on in your life.
Do not buy a car or make large purchases – The amount of cash you have in the bank plus the monthly payment obligations that you have are big factors in the amount of money a lender is willing to provide you for the purchase of a home. When you purchase a vehicle, you decrease your cash and increase your obligations, and neither is going to do anything positive to your loan approval. Wait until after closing to shop for a vehicle!
Do not use credit cards excessively or let current accounts get behind –As mentioned in the previous point, the monthly obligations that you have are a primary factor in your loan approval. Credit card debt increases those obligations and decreases your desirability as a borrower, so keep your credit card spending to a bare minimum until after your close on your home.
Do not spend money set aside for closing – Your loan approval will be accompanied by a down-payment requirement. You might know that you can pull the money together right before closing, but the lender will want to see that money sitting in your account untouched. DO NOT spend any of your down-payment money or you likely will see your approval reversed.
Do not buy furniture on a credit card – While it is very likely you’ll need some new furniture for your new home, do not commit to buying any until after you close. Remember, all obligations are considered when your loan approval is granted, so adding obligations is very likely to reduce the loan for which you are approved. Wait until after closing to go furniture shopping.
Do not originate any inquiries into your credit – Every time somebody pings your credit, it (can) lower your credit score. So even if you are just shopping with plans on buying something after closing, you can actually hurt yourself without even committing to buying something. Do not allow anybody (other than your mortgage lender) to pull your credit score until after closing.
Do not make large deposits without checking in with your loan officer – If you are receiving a larger-than-normal amount of money, ask your mortgage loan originator how to proceed. There are very specific rules and guidelines that they must follow in the loan approval process, and a large deposit could appear as another loan and terminate your home-loan approval. Keep your mortgage originator in the loop before you do anything significant financially.
Do not change bank accounts – By now, you should start to get the message that “change” is bad during the loan application process. Changing bank accounts falls into this category as well, as the banks want to see a history of your money flows. Changing accounts breaks up that flow and it is a common practice by people who wish to deceive the lender. Don’t put yourself under this scrutiny as it could very well lead to a termination of your loan approval.
Do not cosign a loan for anyone – Last but not least, do not cosign on a loan for somebody else. Even if the agreement calls for you to have no monthly obligation, your signature is actually an agreement to guarantee all payments thus your current lender will have to add that debt to your current list of obligations. It is best that you wait until after closing to take on any other debt.
Interest rates are great right now, but lenders are insanely picky. Underwriting guidelines are very strict, they may give you a break with one exception, but not two. And you will need to account for everything, so make sure you get an underwritten pre-approval before you start looking and keep your finances clean while you are shopping for a home. For recommendations on lenders who can provide you an <a href="https://santaclararealestateguy.com/whats-the-difference-between-preapproval-prequalification/" target="_blank" rel="noopener" style="box-sizing: border-box; background: transparent; transition: all 0.5s ease-in-out 0s; color: #000000; box-shadow: none;">underwritten pre-approval</a> for your loan and make sure you are well informed, please feel free to reach out to me
2020-08-26T18:00:00-07:002020-08-26T18:11:02-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8913Will the Housing Market Turn Around This Year?Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so.
Everyone seems to be wondering if the market is going to change and when the economy will turn around.
Many sellers are still positioning themselves to make moves this year. Once stay-at-home orders are lifted and they feel more confident they are expecting to list their homes. This means more homes will start to be available for interested buyers.
Currently, inventory levels are dramatically down this year in some cases close to 50% what they were at the year before. Last year around this time the market began to slow down and homes were sitting on the market longer. This led to price reductions that carried into August.
In our current market, there are many homes that are not selling but prices seem to be holding up. I attribute this to the low levels of inventory and since shelter-in-place policies have relaxed many buyers have re-entered the market.
Whether they are encouraged by the stockmarket's recent performance or perceptions that the economy will not be as adversely impacted, buyers are out there looking and in many cases, they are making aggressive offers.
Already this year their was quite a bit of uncertainty with the looming election. After COVID, some buyers are still being cautious, uncertain about what the long term effects to real estate may be.
Although there exists quite a bit of uncertainty we do know a couple of things that will ultimately shape our economy and impact our real estate in our area. Prior to COVID the FED was already concerned with the condition of the economy and had reduced rates and re-instituted quantitative easing, effectively injecting money into the economy.
The impact of COVID prompted even more dramatic steps by the FED to reduce rates. Congress passed a multi-trillion dollar stimulus package to help shore up the economy and prevent a catastrophic recession. There will likely be more stimulus to follow and rates will remain low for quite some time until the economy shows signs of growth.
Ultimately these policies will lead to increased asset inflation meaning higher stock market and real estate values in the long term.
Bottom Line
The reality is that prices in the long turn will be going up. Typically the Summer season is the time when the market experiences the most inventory. Moving forward, once inventory starts to contract prices are likely to jump.
Even though no one really knows the long term effects and how long the COVID pandemic will endure. We do know that Congress and the FED are committed to avoiding a deep and prolonged recession. With the current unprecedented money creation and low-interest rates, it's difficult to imagine that the economy will suffer a deep and long recession.2020-05-14T16:58:00-07:002020-06-25T10:58:39-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:88947 Tips for Selling Your Home During CoronavirusOn one of your social-distance walks around the block, you may have noticed something surprising: for-sale signs popping up across front lawns.
But how does selling a home work in this new environment? Are you destined to sell for less or spend months on the market waiting for an offer? What challenges can sellers expect and how can they overcome them?
Here's what to expect and how you should navigate selling your home in this environment.
1. Don’t entertain lowball offers — yet
The shake-up of day to day life and the economy might have some sellers reeling about whether their home value has plummeted since the coronavirus hit, but now’s not the time to panic — or accept lowball offers.
Before the coronavirus outbreak home values were appreciating rapidly. With current low levels of inventory, prices are not dropping. So in general, think twice before accepting an offer you’re not happy with.
2. Expect less interest, but more serious buyers
Economic uncertainty and skyrocketing unemployment have led many mortgage lenders to tighten their qualification standards, making it harder for borrowers to secure pre-approval or a home loan.
Sellers can make the most of this slow but serious traffic. Here’s how:
Let buyers experience your home online<br />Work with your agent to attach a 3-D self navigable tour, pre-recorded video walkthrough, or listing video to your property listing. Cyber tours give buyers a realistic experience of the property, which may help them see that your home is truly a great match.
Boost your home’s curb appeal.<br />Before booking a tour, agents are taking their buyers on preliminary showings to highlight the surrounding neighborhood, street, and exterior of a home they’re interested in. So spend a quarantined weekend sprucing up your curb appeal to impress any buyers who may do a drive-by.
Hit on your home’s highlights and key upgrades in your listing description.<br />Paint a vivid picture of your home with a rich and descriptive listing detailing features that a buyer might miss during the virtual showings.
3. Communicate frequently using teleconferencing solutions
Even in more predictable times, a good real estate agent is in constant contact with their client. Now data and information is more important than ever. You need to be kept up to date with any new listings, competition, price drops and overall conditions of the market.
Common questions sellers have:
Can I eliminate in-person showings and still sell my home?
Should I take my home off the market until the shelter in place order expires?
Do I need to cut the price of my home to sell?
<br /><br />4. List now or be ready to pull the trigger
Inventory is down right now, but buyer demand is still high, making it a good time to list a property while others are hesitating to do so.
At the very least, get your home ready to sell so whenever the shelter in place is officially lifted you can be one of the first ones on the market.
Listing your house now is getting ahead of an anticipated surge in listings. Since you’re spending more time at home than ever before, start taking the steps to prepare your home:
Declutter your home.
Organize your closets, pantries, and drawers.
Tackle simple and affordable curb appeal projects
5. Anticipate new addenda and disclosures
Over the past couple of months as contract delays and hurdles become more common, “coronavirus clauses” — also called coronavirus “addenda” or “amendments” — have become a frequent addition to buyer’s purchase agreements across the country. These provisions permit contract extensions and even termination without repercussions.
It’s important, as a seller, that you know what you’re signing and what your options are. When you receive an offer, you should verify what the terms of the coronavirus amendment are.
6. Push for a standard closing, but plan on delays
During the coronavirus outbreak, one of the biggest challenges in selling homes has been delays. The delays stem from delays in appraisals, inspections, and other key closing services.
While some delays are inevitable and fall under the coronavirus clause, aim to keep your buyer on track with a standard 30 day closing.
7. Check to see where the buyer’s loan is coming from
Trends in real estate will vary based on your location and market, and therefore you should see who your buyer is pre-approved with. Are they getting their loan through an online or out of the area lender?
Your listing agent should have insight into which lenders have a tendency to close late and which lenders can perform on time.
Many online or out of area lenders don't understand the demands of our local real estate market. As a result, online or out of area lenders have a tendency to close late and not expedite their buyer's files to make short close deadlines.2020-05-13T11:14:00-07:002020-06-25T11:40:37-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8869How the Coronavirus Going to Impact Real Estate in Santa Clara County?You were browsing MLS listings and gearing up to begin your home search during the busy spring season. But then COVID-19 came sweeping across the nation, and your plans were suddenly put on hold. You still want to buy, but you’re wondering how is the coronavirus impacting real estate?
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Without a crystal ball, it’s impossible to say exactly what the coronavirus pandemic will do to real estate — but we can make some educated guesses based on what we know about economics and the market in general.
Here are the variables to watch that will determine how coronavirus impacts real estate down the road.
Home Values
There has been a very noticeable drop in pricing.
At the beginning of the year we were seeing rapid home value appreciation, as the stock market began to reel we noticed demand dropping, and within two or three weeks home values had plunged.
Home values from where they were at the height of the spring probably dropped close to 10%-15%.
Buyer demand
We’ve seen a strong seller’s market at the beginning of this year due to low inventory and a healthy local economy.
That has changed now that the area has shut down. The biggest impact the virus has brought is the weekend buyer demand. Although the virus has also impacted the number of homes for sale, the buyer demand has slowed down to levels where most homes are just sitting on the market and many are not moving.
The impact the virus will have on the market ultimately depends on the duration of the virus. As of now that is hard to determine. The federal government has implemented stimulus to keep banks, businesses, and people afloat but the intention was for a very short period. If the impact proves to be broader then expect more stimulus, but worsening conditions for sellers.
Low Home Inventory
There’s no doubt that sellers have become a little wary of listing during the pandemic. While that weariness is certainly keeping some would-be sellers from listing their homes, other sellers don’t have the luxury of waiting out the virus. Moves, divorce, death, or serious financial troubles will require some sellers to put their homes on the market.
In our local market, sellers have been reluctant to drop their price. Hoping that as restrictions ease the market will resume and pricing will start to go back up.
What as stabilized the market is the low inventory, sellers firmness on pricing, and the few buyers that are taking advantage of the market at this moment.
Sellers in this market
Sellers are hesitant to list because they believe the virus is preventing people from buying. The truth is that you are able to buy and sell at this time, but the uncertainly is weighing in on both buyers and sellers causing low inventory and fewer serious buyers.
Until inventory levels go up, prices are unlikely to change significantly.
Mortgage rates
In mid-April, mortgage rates hit a 30-year low, falling to 3.45% for a 30-year fixed-rate mortgage. Even with the extraordinarily low rate, mortgage applications were down 35% from a year prior. Just recently new mortgage applications began to rise.
Despite the recent economic turmoil mortgages are still being funded
Lenders are raising requirements on credit scores and down payments making it more difficult to qualify for a loan.
Uncertainty
Overall the market remains strong. Homes are selling. Depending on how you perceive it. Buyers are getting a better deal right now on homes then what they would have had this pandemic not occurred. With that, the buyers are assuming the risk moving forward.
</article>2020-05-12T11:14:00-07:002020-05-16T00:27:10-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:88165 Ways Coronavirus Is Changing How You Sell a House (And Maybe for the Better)Coronavirus is actively changing the mechanics of selling a home in a way that could have long-lasting and even permanent effects.
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To limit interactions agents and clients are utilizing different technologies in order to facilitate the real estate transaction. Here are 5 different ways agents are utilizing technology to make real estate safer during the pandemic.
1. Video Conference Listing Appointments
Before the pandemic, your first meeting with your agent was conducted at your home. Your agent would want to walk around and see you home to get an understanding of its value and how to market the home.
The meeting would consist of sitting at the kitchen table to discuss your moving plans, reviewing the agent's marketing plan, pricing, and sales costs. Now to limit exposure, agents are setting up preliminary meetings over web conference applications like Zoom. They are able to share information on a shared screen and go over all the details and answer seller questions.
If the sellers would like to move forward with the agent they can then schedule a personal meeting at the home. Standing and sitting 6 feet apart and wearing a mask, the agent can then take a better look at the home and finalize any last details.
2. Virtual Tours
People are receptive to the virtual walkthrough experience, similar to how they’ve come around to virtual gatherings with family and friends. Virtual tours have been a thing in real estate for a while. Only recently has realistic virtual walk-through technology become available through companies like Matterport. The costs can be expensive generally costing around $500 per home and not every agent has adopted the use in their marketing plan.
More and more agents are opting to spring for these high-tech virtual tours that allow viewers to walk through their homes and give them a more realistic portrayal of the space.
As part of our marketing package, we offer Matterport tours free of costs on all our listings and include the 2D floorplan as well.
2. Virtual Open Houses
While virtual tours have long been on the rise as a complement to great photos, agents are using technology more than ever to promote their listings and put houses in front of potential buyers during coronavirus.
Not only do virtual events and walkthroughs adhere to social distancing guidelines, they save time. Sellers don’t have to leave their homes and invite a hoard of strangers into their space. And no one has to drive across town to view a property that may or may not prove to be a good fit.
Buyers are able to get questions about the home answered directly from agents. They can review the disclosures with the agents over the virtual meeting and if there is interest buyer can follow up with an onsite showing.
</article><br /><br />3. Attracting Serious Buyers
As of May 4th home showings can include homes that are occupied. Homeowners need to be out of the home. Showings are limited to just three people an agent and two buyers. The buyers can only view the home together if they currently reside together otherwise they must view the home separately with their agent.
Agents and buyers must be 6 feet apart and wear masks. Sanitation wipes or gels should be used before entering the home as well as following all recommended CDC protocols.
In addition, agents have to provide a form to the listing agent prior to showing referred to as the PEAD form (Coronavirus Property Entry and Advisory). The form details the protocols agents must follow while showing the home and limit the liability of all parties.
Listing agents are also requesting pre-approvals prior to showings to make sure the buyers are qualified. With all the restrictions limiting showings only to serious and qualified buyers.
4. Showing appointments are getting some boundaries
Virtual walkthroughs and pre-approval requests are great for weeding out the tire-kickers and nosy neighbors, but as sight-unseen purchases are still fairly rare, a serious buyer will eventually need access to the house.
Though it’s tempting to be ultra-accommodating as the economy enters what’s expected to be a challenging recession, sellers should expect these restrictions on in-person showings for the foreseeable future:
Scheduling will accommodate just one client party at a time; no overlapping visits
Sellers will need to turn on all the lights before showing and open up closets and cabinets to minimize contact
Agents will help sellers post protocols or other directives for visitors in the home, i.e.; don’t use toilets, avoid touching surfaces
Walkthroughs will be bound by time limits and buyers will be asked not to linger
Although some of these restrictions will likely ease up eventually, it’s hard to say when that will be possible or whether sellers will ever again be fully comfortable inviting strangers through their home in a revolving-door fashion. It’s likely that some of these restrictions will have a long shelf life.
5. Digital or mobile solutions are replacing the closing table
The pandemic has created some pressure to innovate around home closings that were traditionally conducted in an office setting. Agents are getting creative by offering to do:
Mobile notaries are coming to homes to sign documents.
E-closings are being processed by the county to record documents.
E-signature software such as DocuSign is being used to sign remotely.
What does the future hold?
Given the unprecedented nature of the COVID-19 pandemic, no one can state with certainty how long this will last and what the real estate industry will look like in the aftermath. Fortunately, we have technology on our side and folks are still able to buy and sell homes — perhaps using methods that, when you think about it, are actually an improvement from the old days.2020-05-07T11:54:00-07:002020-06-25T11:40:02-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8679What you Need to Know when Selling Your Santa Clara County Home During Coronavirus You were planning to sell your home soon (or perhaps already had your house on the market) when the coronavirus outbreak hit and upended life as we know it.
You aren’t alone. Many Santa Clara County homeowners were gearing up for what was looking like a hot spring housing market, and now aren’t sure what to do: Move forward with caution? Give it a year? Wait and see?
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If you’re wondering whether it’s still possible to sell a home during a pandemic, what to expect, what to do if you encounter delays, and how to proceed without compromising you or your family’s health, this article was written for you.
<img src="https://assets.site-static.com/userfiles/1078/image/images/IMG_20190802_143734.jpg" width="1024" height="768" />
Can I still sell my house during the coronavirus pandemic?
In short, yes. Homes are being listed and sold currently.
Real Estate has been declared an essential service in California. Agents are able to show and list homes, and as of May 4th this has extended to homes that are occupied as well.
Title companies are open, lenders are funding and originating loans, home inspections companies are open, appraisers are working, and the county recorders office has allowed electronic recordings.
Is it smart to sell my home now?
Like many questions it depends.
It depends on several factors. How comfortable are you with having people come to your home right now? Can you wait, or do you really have to sell this year?
Showings are being controlled and limited to the number of people. Agents and buyers must agree to sign a form instructing them on what pre-cautions and steps they must take in order to view a home. Such as limiting the showing to 3 people max, wearing masks, and using some form of sanitizing liquid or gloves.
Will I be better off waiting until next year?
No one knows for sure, it all depends on how longs this epidemic goes on for and how severe the economic consequences will be. Our local economy has been affected by many of the home buyers who are tech works have still retained their employment. This may change if this drags on much longer such as next year as consumer consumption of iPhones and other goods will remain weak.
In the short term, as policies are being relaxed there is an expectation that new listings will start to hit the market and soften it further. Eventually, motivated sellers will have to drop their prices to get their homes sold. In this scenario selling sooner would be more beneficial.
But if you can wait until next year, and the economy starts to rebound there is reason to believe that home values will shot up as inventory will likely remain low, interest rates will be at record lows, and the stock market will be rallying due to the influx of recent economic stimulus.
<a href="https://www.homelight.com/blog/selling-a-home-during-coronavirus/q1-2020-infographic_1100px-1600px-02/" rel="attachment wp-att-15991"></a>How are we helping homeowners sell right now?
Virtual meetings and E-signing
We have employed technologies to help communicate with our clients and conduct virtual meetings whenever possible using your platform of choice whether it’s Zoom, FaceTime, Google meets, or old fashioned texting and phone calls.
We are refraining from using paper when signing documents, and are utilizing signing platforms like Docusign and Digital Ink for all paperwork, as well as email.
Virtual Tours & Video
We have been using the industry leaders, Matterport for the last 3 years to showcase our listings. These tours provide the most accurate and real experience to users and are years ahead of their competition.
The tours provide a walkthrough of the home and a 2D floor plan. These two tools have helped us cut down unnecessary showings.
Virtual Open Houses
A virtual open house is definitely not the same as a real open house. Open houses are a great way to have a home available for buyers to come in and view a home. In a typical weekend you could get as many as 200 visitors. With current restrictions, traditional open houses are not allowed.
Virtual open houses allow buyers to connect with the listing or showing agents to get questions answered about a home that they are interested in.
The advantage is that it allows agents to weed out more serious buyers and get direct feedback about the home from buyers. The direct contact with buyers can facilitate a sale to a buyer who needs information before making a decision.
Qualifying Buyers?
After ensuring that buyers have accessed the virtual tour, we require bank Pre-Approval letters from all buyers wishing to view the property. Agents must also have their buyers sign the PEAD form (Coronavirus Property Entry Advisory Disclosure) prior to getting access to the home.
Preparing a Home?
As the economy is slowly opening up. More industries are allowed to go back to work. Construction workers such as painters and contractors are now allowed to work in homes. Staging has commenced operations, as well as photography and other marketing services.
At the Brasil Group we have in house staging, construction, and photography services and have been able to coordinate work to get homes ready for the market.
Protecting your health, and safety while selling a home during coronavirus?
In order to sell a home right now you have to be Covid-19 compliant.
Sellers may not be in the home during the showings.
Showings are limited to 3 people max included the agent.
Visitors must wear masks during the showings.
Sellers are advised to turn on all lights and leave interior doors open to discourage unnecessary contact from visitors.
Visitors must use gloves or hand sanitizer prior to entering the home.
Homeowners need to disinfect surfaces after all showings.
What happens if there are unforeseen delays or someone involved in the transaction starts to feel sick?
Typically, a real estate purchase agreement includes milestone deadlines for steps like the property inspection and appraisal, as well as agreed-upon closing and move-out dates.
Given the amount of uncertainty right now, we have added special coronavirus provisions to contracts to provide some breathing room for delays in this fast-changing environment.
They’re also relying on new language and forms for listing agreements and property showings. If the buyer or seller, or any of their family members, were to fall ill, these types of clauses would also allow move-out dates to be extended without penalty.
Conclusion
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Selling a home right now is not ideal. If you can avoid it its best to wait. We don't know what the conditions will be like to sell next year, but there is a better chance that they will be more advantageous to sellers.
If you still feel the need to sell your home this year and have more questions about safety and how to get started, contact me for a phone call or virtual consultation.
We want to provide you with the right direction to get your home sold quickly, safely, and for the highest price possible.
2020-04-22T16:55:00-07:002020-05-15T11:07:23-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8678Will This Economic Crisis Have a V, U, or L-Shaped Recovery?<a href="https://files.keepingcurrentmatters.com/wp-content/uploads/2020/04/20175053/20200421-KCM-Share.jpg" title="Will This Economic Crisis Have a V, U, or L-Shaped Recovery?" class="lightbox-added"><img width="750" height="410" src="https://files.keepingcurrentmatters.com/wp-content/uploads/2020/04/20175053/20200421-KCM-Share.jpg" class="attachment-full size-full wp-post-image" alt="Will This Economic Crisis Have a V, U, or L-Shaped Recovery?" srcset="https://files.keepingcurrentmatters.com/wp-content/uploads/2020/04/20175053/20200421-KCM-Share.jpg 750w, https://files.keepingcurrentmatters.com/wp-content/uploads/2020/04/20175053/20200421-KCM-Share-300x164.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" /></a>
Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover?
Let’s look at the possibilities. Here are the three types of recoveries that follow most economic slowdowns:
V-shaped recovery: an economic period in which the economy experiences a sharp decline. However, it is also a brief period of decline. There is a clear bottom (called a trough by economists) which does not last long. Then there is a strong recovery.
U-shaped recovery: when the decline is more gradual, i.e., less severe. The recovery that follows starts off moderately and then picks up speed. The recovery could last 12-24 months.
L-shaped recovery: a steep economic decline followed by a long period with no growth. When an economy is in an L-shaped recovery, getting back to where it was before the decline will take years.
What type of recovery will we see this time?
No one can answer this question with one hundred percent certainty. However, many top financial services firms are anticipating for a V-shaped recovery.
Is there any research on recovery following a pandemic?
There have been two extensive studies done that look at how an economy has recovered from a pandemic in the past. Here are the conclusions they reached:
Does everyone agree it will be a ‘V’?
No. Some are concerned that, even when businesses are fully operational, the American public may be reluctant to jump right back in.
As Market Business News explains:
“In a typical V-shaped recovery, there is a huge shift in economic activity after the downturn and the trough. Growing consumer demand and spending drive the massive shift in economic activity.”
If consumer demand and spending do not come back as quickly as most expect it will, we may be heading for a U-shaped recovery.
Bottom Line
No one knows for sure how quickly Americans will get back to “normal” life. We will have to wait and see as the situation unfolds.
Meanwhile, our local real estate market has seemed to have stabilized.
Although buying activity has slowed, sellers are holding firm on their list price and home inventory continues to be low.
Employment for major high tech employees has remained stable with no immediate signs of layoffs. Indications we are moving in a positive direction as state and county officials start to unveil plans to ease shelter in place rules may also be helping buyer confidence.
Recently some countries such as China, Germany, and South Korea have announced an uptick in cases after they have relaxed their shelter in place policies. This will surely happen to us as Santa Clara County and neighboring counties move to open up the economy and restrictions.
Recent cases in Santa Clara County have been decreasing but likely to increase as shelter in place policies are relaxed.
<a href="https://www.sccgov.org/sites/covid19/Pages/dashboard.aspx"><img src="https://assets.site-static.com/userfiles/1078/image/images/covid-case-tracker.jpg" width="709" height="485" /></a>
2020-04-22T16:24:00-07:002020-05-14T11:50:49-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8463Understanding the CARES Act
During this global coronavirus crisis, many Americans are facing unprecedented difficulties due to business closures and economic uncertainties. To help alleviate some of the financial burdens, Congress just passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. <br /><br />The $2 trillion economic stimulus legislation will help many Americans, and we wanted to share some of the measures that might directly affect you or your loved ones.
<a href="https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://kwbae.us12.list-manage.com/track/click?u%3Dea557e1e54a502034261cf807%26id%3D9c5473f61b%26e%3D73b750a310&source=gmail&ust=1586032192360000&usg=AFQjCNEurHQgthXxUk57HvqYV85C7GdTUg"><img align="center" alt="" src="https://ci4.googleusercontent.com/proxy/RjufyV9MKnzDnR7JOfToGVvoLHg9mnMs4xcyfPDvPI7kW-dUwQrokOzj7L1vi395AHgnIQgsry5UR6IlvcszFA1ufJwRlAPGDq295F-ijjKEWLXS7ewLsC256ClUGlb2lfJKBtPXRUZrLom6SGYbPyvfqNhexA=s0-d-e1-ft#https://mcusercontent.com/ea557e1e54a502034261cf807/images/0bc111ef-c243-4024-a031-bdd8e80adcbb.jpg" width="564" class="m_8398447455968083384mcnImage CToWUd" /></a>
Your payment from the Federal Stimulus package will depend on your income.
Single adults with an adjusted gross income of $75,000 or less will get $1,200.
Married couples with no children earning $150,000 or less will receive a total of $2,400.
Taxpayers filing as head of household will get $1,200 if they earn $112,500 or less.
For every qualifying child under the age of 16, the payment will be an additional $500.
Above those income figures, the payment decreases on a sliding scale until it stops for single people earning $99,000 or married couples who have no children and earn $198,000. <a href="https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package">(more info)</a>
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<a href="https://www.edd.ca.gov/about_edd/coronavirus-2019.htm" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://kwbae.us12.list-manage.com/track/click?u%3Dea557e1e54a502034261cf807%26id%3Dbfd76e9c22%26e%3D73b750a310&source=gmail&ust=1586032192360000&usg=AFQjCNGY0xgu8TDobanSYrmJAoRuF19avw"><img align="center" alt="" src="https://ci4.googleusercontent.com/proxy/x3XcmUuemskdACVW5Jy1zaXuEjPLzq8mk6QTcKeAecRYFRTLtDf1yGAamQtigJuDABTM3e1LXl6-y5hMqKpwhV_-sxJyzgAErMdvJQ7viYZYQoREkqneAsgWrMuG4qgJD2Sur_T_xnV4XD1n7ziMa7mjObhjkw=s0-d-e1-ft#https://mcusercontent.com/ea557e1e54a502034261cf807/images/9d1071e2-6676-45da-8387-7b1ff853977f.jpg" width="564" class="m_8398447455968083384mcnImage CToWUd" /></a>
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These individuals will be given an additional $600 a week from the federal government. This additional amount will continue for four months. The unemployment assistance period will also be extended for an additional 13 weeks, both for new filers and existing recipients. <a href="https://www.edd.ca.gov/about_edd/coronavirus-2019.htm">(more info)</a>
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<a href="https://www.edd.ca.gov/about_edd/coronavirus-2019.htm" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://kwbae.us12.list-manage.com/track/click?u%3Dea557e1e54a502034261cf807%26id%3Ddc4a56d94f%26e%3D73b750a310&source=gmail&ust=1586032192360000&usg=AFQjCNHQLfT-A5Cn7fKXtA3ReLH9bK-DFQ"><img align="center" alt="" src="https://ci3.googleusercontent.com/proxy/ZPZemuXCkbEkjB7CQvJfc4nM2fQ6RM1h0ymGwXkZejst4Hfl-sKxosowibOoIIZ8PsQLaGX0WgMsBz-wTVmhdX6QsS9QHAHkCEIt87QQ12mUc73q44MXkkFb8tkPZ20bAx6v9EoZA85y3HPjqkE99h6gZjMB0Q=s0-d-e1-ft#https://mcusercontent.com/ea557e1e54a502034261cf807/images/4685a8d4-1640-4c98-a79a-a708671e83aa.jpg" width="564" class="m_8398447455968083384mcnImage CToWUd" /></a>
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These individuals will now also be eligible for unemployment insurance. They will also benefit from the extended assistance period and an extra $600 per week from the federal government. <a href="https://www.edd.ca.gov/about_edd/coronavirus-2019.htm">(more info)</a>
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<a href="https://www.sba.gov/funding-programs/disaster-assistance" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://kwbae.us12.list-manage.com/track/click?u%3Dea557e1e54a502034261cf807%26id%3D82f96a0058%26e%3D73b750a310&source=gmail&ust=1586032192361000&usg=AFQjCNHMB7nNOWd1x_V-ZUDTrT0bHgjtLA"><img align="center" alt="" src="https://ci3.googleusercontent.com/proxy/ejlkS9rSVfzSve-G7KjViuz0Tk7QUo233Y8JqnwAY4OsAYranMhn4_hKwE0Q5xY4cTm_uvU8TgmXFRJ92PW34c0w__-zTgdLlWna6x_rSor8ArVPKqgchOK7yOu9t_vfc1puoW5jU9lzED4s3rkteEZ7GTVIjQ=s0-d-e1-ft#https://mcusercontent.com/ea557e1e54a502034261cf807/images/eb3548c1-6e42-4adc-a65d-74f88395d2b9.jpg" width="564" class="m_8398447455968083384mcnImage CToWUd" /></a>
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$350 billion of this stimulus bill will be dedicated to supporting small businesses affected by the pandemic. This will be in the form of emergency grants, six months of relief for existing loans, and a forgivable loan program. The Small Business Administration says it’s ready to make immediate loan advances, or grants, of up to $10,000 to companies hurt by the coronavirus. It starts with an application on SBA.gov for an Economic Injury Disaster Loan. Sole proprietors, with or without employees are eligible. <a href="https://www.sba.gov/funding-programs/disaster-assistance">(Apply Here)</a>
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In addition to these measures, the CARES Act will also assist public health institutions, food security programs, large corporations (which will have to pay the government back), and state and local governments. For more details on the CARES Act, <a href="https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://kwbae.us12.list-manage.com/track/click?u%3Dea557e1e54a502034261cf807%26id%3D246c4f872b%26e%3D73b750a310&source=gmail&ust=1586032192361000&usg=AFQjCNH53OVZe5x9RBWry2RbSb-R8xRc6Q">take a look at this breakdown of the legislation by NPR.</a>
2020-04-03T13:54:00-07:002020-04-09T08:39:01-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8423Will the Coronavirus (Covid-19) Create a Housing Crash?Will the Coronavirus (Covid-19) Create a Housing Crash?
With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), many people are concerned that we may be headed for another housing crash. The feeling is understandable.
The reality is this real estate market is nothing like the previous market that eventually led to the 2008 housing crash.
Here are five reasons why the current conditions of the market are different from 2008.
1. Mortgage standards are tougher.
During the 2008 housing market, it was too easy to get a mortgage. With today’s lending requirements, it is tougher to qualify for a mortgage.
The Mortgage Bankers’ Association releases a <a href="https://www.mba.org/news-research-and-resources/research-and-economics/single-family-research/mortgage-credit-availability-index">Mortgage Credit Availability Index</a> which is “a summary measure which indicates the availability of mortgage credit at a point in time.” The higher the index, the easier it is to get a mortgage.
Below you will see that in the years preceding 2008 the index skyrocketed. Currently, the index shows how comparable how difficult it is to get a mortgage.
<a href="https://santaclararealestateguy.com/wp-content/uploads/2020/03/price.jpg" data-elementor-open-lightbox="yes" data-elementor-lightbox-title="Mortgage Credit Availability"><img width="768" height="410" src="https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-768x410.jpg" class="attachment-medium_large size-medium_large" alt="Mortgage Credit Availability" srcset="https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-768x410.jpg 768w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-300x160.jpg 300w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/price.jpg 985w" sizes="(max-width: 768px) 100vw, 768px" /></a>
2. Home Prices are Not Appreciating as Rapidly.
Below is a graph showing annual house appreciation over the past six years, compared to the six years leading up to the 2008 market. Though price appreciation has been quite strong recently, it is nowhere near the rise in prices that were experienced in 2008.
<a href="https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-appreciation.jpg" data-elementor-open-lightbox="yes" data-elementor-lightbox-title="Home price appreciation"><img width="768" height="401" src="https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-appreciation-768x401.jpg" class="attachment-medium_large size-medium_large" alt="Home price appreciation" srcset="https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-appreciation-768x401.jpg 768w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-appreciation-300x157.jpg 300w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/price-appreciation.jpg 981w" sizes="(max-width: 768px) 100vw, 768px" /></a>
There’s a stark difference between these two periods of time. Normal appreciation is 3.6%, so while current appreciation is higher than the historic norm, it’s certainly not accelerating beyond control as it did in the early 2000s.
3. Home Inventory is Low
The months’ supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued appreciation. As the next graph shows, there were too many homes for sale in 2007, and that caused prices to tumble. Today, there’s a shortage of inventory which is causing an acceleration in home values.
<a href="https://santaclararealestateguy.com/wp-content/uploads/2020/03/montly-inventory.jpg" data-elementor-open-lightbox="yes" data-elementor-lightbox-title="Months Inventory of Homes"><img width="768" height="436" src="https://santaclararealestateguy.com/wp-content/uploads/2020/03/montly-inventory-768x436.jpg" class="attachment-medium_large size-medium_large" alt="Months Inventory of Homes" srcset="https://santaclararealestateguy.com/wp-content/uploads/2020/03/montly-inventory-768x436.jpg 768w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/montly-inventory-300x170.jpg 300w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/montly-inventory.jpg 913w" sizes="(max-width: 768px) 100vw, 768px" /></a>
4. Affordability was Low.
The affordability formula has three components: the price of the home, the wages earned by the purchaser, and the mortgage rate available at the time. Fourteen years ago, prices were high, wages were low, and mortgage rates were over 6%. Today, prices are still high. Wages, however, have increased and the mortgage rate is about 3.5%. That means the average family pays less of their monthly income toward their mortgage payment than they did back then. Here’s a graph showing that difference:
<a href="https://santaclararealestateguy.com/wp-content/uploads/2020/03/inventory-of-homes.jpg" data-elementor-open-lightbox="yes" data-elementor-lightbox-title="percent of median income"><img width="768" height="440" src="https://santaclararealestateguy.com/wp-content/uploads/2020/03/inventory-of-homes-768x440.jpg" class="attachment-medium_large size-medium_large" alt="percent of median income" srcset="https://santaclararealestateguy.com/wp-content/uploads/2020/03/inventory-of-homes-768x440.jpg 768w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/inventory-of-homes-300x172.jpg 300w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/inventory-of-homes.jpg 908w" sizes="(max-width: 768px) 100vw, 768px" /></a>
5. Current Home Owners Have More Equity.
In the run-up to the 2008 market, homeowners were taking on more debt and leveraging their homes. Many withdrew their equity once it built up, and they learned their lesson in the process. Prices have risen nicely over the last few years, leading to over fifty percent of homes in the country having greater than 50% equity. But owners have not been tapping into it like the last time. Here is a table comparing the equity withdrawal over the last three years compared to 2005, 2006, and 2007. Homeowners have cashed out over $500 billion dollars less than before:
<img width="979" height="528" src="https://santaclararealestateguy.com/wp-content/uploads/2020/03/cash-out-refinance.jpg" class="attachment-large size-large" alt="home equity cashout" srcset="https://santaclararealestateguy.com/wp-content/uploads/2020/03/cash-out-refinance.jpg 979w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/cash-out-refinance-300x162.jpg 300w, https://santaclararealestateguy.com/wp-content/uploads/2020/03/cash-out-refinance-768x414.jpg 768w" sizes="(max-width: 979px) 100vw, 979px" />
During the crash, home values began to fall, and sellers found themselves in a negative equity situation (where the amount of the mortgage they owned was greater than the value of their home). Some decided to walk away from their homes, and that led to a rash of distressed property listings (foreclosures and short sales), which sold at huge discounts, thus lowering the value of other homes in the area.
The Current State of the Market
The current market is holding up. Prices have softened from their highs and some buyers have paused their home search. At the same time many sellers have held up their sales and inventory has dropped by 30% since the shelter in place mandate has been placed. Of the current homes that are listed hardly, any have dropped their prices. Recently real estate has been named an essential service by the state and that will help facilitate the sale of more homes. As the shelter in place restriction is still in effect, I expect inventory to remain low and serious buyers who will continue to shop and make offers.
Have Questions or Concerns, Contact Me.
2020-03-30T10:51:00-07:002020-04-09T08:36:53-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:84137 Steps To Refinance Your Mortgage
Rates have dropped to historically low levels, now is a great time to refinance. If you are thinking of refinancing, the process is pretty similar to when you first got your mortgage. Here’s a step-by-step timeline of what you can expect.
1. Go shopping
The first step is to find the best loan and lender for your needs. Here are some things to consider as you explore your refinance options:
Type of refinance: rate-and-term or cash-out are the most common
Type of loan: most lenders offer adjustable-rate or fixed-rate mortgages
Term: the length of your new mortgage
Rate: You can check today’s rates and see how you much you might save with a refinance calculator.
Credits vs. points: You can take credits to offset closing costs or pay points up front to lower your rate.
Closing costs: Like with your original mortgage, you’ll have third-party, property-related, and lender fees.
Before moving forward with any lender, you should get an official Loan Estimate (LE), which is a standard document that provides a clear and concise summary of all the features, costs, and risks associated with your new mortgage.
2. Lock your rate
Once you’ve chosen your lender, the next step is to lock your rate. That means your lender will commit to honoring that day’s rate options, even if rates go up later. Mortgage interest rates can fluctuate daily based on how the market is doing, so locking your rate protects you from these fluctuations going forward.
<img width="900" height="400" src="https://santaclararealestateguy.com/wp-content/uploads/2019/09/Colleyville-real-estate.jpeg" class="attachment-large size-large" alt="" srcset="https://santaclararealestateguy.com/wp-content/uploads/2019/09/Colleyville-real-estate.jpeg 900w, https://santaclararealestateguy.com/wp-content/uploads/2019/09/Colleyville-real-estate-300x133.jpeg 300w, https://santaclararealestateguy.com/wp-content/uploads/2019/09/Colleyville-real-estate-768x341.jpeg 768w" sizes="(max-width: 900px) 100vw, 900px" />
3. Submit documents
Next, you have you upload your financial documents. You’ll typically be asked to provide:
2 years of personal tax returns
2 years of business tax returns (if you own more than 25% of a business)
2 years of W-2s or 1099s
2 months of bank statements
Proof of any alimony or child support payments
4. Underwriting and follow-ups
Once everything has been submitted, the underwriting team will work to review everything, typically in 3 days or less. Your lender will get back to you with any additional conditions or requirements and to answer questions and make sure they have all the documents for your specific financial situation.
5. Final approval
Once all the final documentation is in, a final check is done to make sure absolutely everything is in order. You will be notified that underwriting is complete and that it’s time to set a signing date.
7. Signing Loan Docs
After approval, the doc drawer draws your loan documents and sends them to the title company. The title company will set an appointment to meet with you to review and sign the paper work.
You will need to bring your ID. The escrow officer will review the documents and make sure that your note is consistent with what was promised to you, such as the rate, the term, and costs. Once you sign and the documents are notarized the title company returns your paperwork to the lender and you are all set for funding.
7. Closing and funding
After reviewing the documents to ensure they were completed properly and some last minute final checks, your file goes to the funding department and they wire your loan to the escrow company.
The escrow company pays off your old loan and records the new trust deed in its place. You now have completed your refinance and will need to cancel any automatic payment programs for your old loan and set them up for your new lender.
2020-03-27T18:22:00-07:002020-03-30T13:56:43-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8412Credit Inquiries and Home Loans
Since a minimum credit score is required for most loan programs, the first thing a lender will do is check to see if your score measures up – this is known as a “credit inquiry.” There are two primary types of inquiries, a hard and a soft inquiry. A hard inquiry will have a direct and almost immediate impact on credit scores whereas a soft inquiry will not. A hard inquiry is one where the individual has made a direct request for new credit. The request can be for a new automobile loan, installment loan or a credit card. In these cases, a single, somewhat isolated request for new credit will have a marginal impact on credit scores.
Multiple requests for credit during a compressed period of time, however, will eventually harm scores. The logic is that several quick requests for new credit could indicate an individual is on the cusp of financial hardship, and the new credit accounts are intended as a budgetary life-preserver. These varied, numerous requests can keep companies from issuing new credit.
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A soft inquiry is relatively benign and won’t affect scores at all. A soft inquiry is when someone requests their own credit report for a review. Soft inquiries are often made by employers or landlords, and won’t hurt your score.
When it comes to applying for a home loan, it’s important to understand the details. Let’s say you’ve applied for a mortgage loan, but you haven’t heard anything back from the loan officer. After two weeks you want to apply for a mortgage at another lender, but you’re concerned that another hard inquiry will ding your credit score. While this is a valid concern, the guidelines set forth by the Consumer Financial Protection Bureau have ruled that multiple requests for the same type of account within a 45 day period count as just one inquiry. Therefore, there is no harm in shopping around when it comes to finding the right home loan
2020-03-27T18:19:00-07:002020-03-30T13:55:50-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8411Decluttering Your Home to Sell: the Marie Kondo Approach
There’s a remarkable difference between what your house looks like day to day and what your house looks like when you have people coming over. Day to day it’s probably got some clothes on the floor, toothpaste in the sink, bread left out in the counter, kids’ toys spread everywhere, dishes in the dishrack. When you throw a party you sweep all of that away like it was never there, light a few candles, buy fresh cut flowers for every room, and place an orchid on the bathroom sink.
When you prepare your home for sale, you have to live like you’re throwing that fancy party every day, and you’ve got to up the stakes. While your friends understand that you didn’t have time to vacuum or clean stray marks off the wall, prospective buyers won’t. An un-prepped home gives them the leverage to negotiate the price down, make a lowball offer, or walk away from your single family home altogether.
If that’s not enough to persuade you to take the time to prepare your home, look at the upside: Consumer Reports says there’s a 3-5% value increase for a clean, decluttered house.
Preparing your house for sale isn’t an easy process: there’s a lot to be done and you have to do it on top of working, spending time with friends and family, and doing all of the other small tasks you need to take care of. Preparing your home is worth it though, and we’re here to help you.
We put together an all-inclusive guide for how to declutter, then clean, prepare the exterior of the home, and then stage and show the house.
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A Quick Single Family House Decluttering Guide: The KonMari Method
When we sold our single family home 15 years ago, our real estate agent told us that the buyer had gone to two open houses and then, having forgotten to inspect the closets, joyfully attended a third just to check them out.
People get excited about closet space. Haven’t you ever enjoyed looking at a beautifully organized rack of clothes in a little boutique? Your closet, and the rest of your house, should look like that rack of clothes. It needs to be decluttered and feel minimal yet homey, sparse yet comfortable, clean and welcoming.
The best way to declutter your single family house is with the KonMari method. Getting rid of your possessions can be painful, especially if you attach emotion and memory to them. The KonMari method recognizes those emotional attachments and teaches you how to know when to hold onto something and when to let it go.
What is the KonMari Method?
The KonMari method is a decluttering process developed by Marie Kondo. The process is acclaimed by millions of people because it works. It’s based on the Japanese philosophy that every single item you own should bring you joy. Kondo’s book, The Life Changing Magic of Tidying Up is a #1 New York Times bestseller. Time also named Kondo as one of the top 100 most influential people in the world. Are you paying attention yet?
KonMari plays on your personal intuition, and because of this it tends to work faster and easier than other decluttering methods. The initial gut feeling you have when you pick up your stuff drives you to keep or discard it. Gut reactions mean quick decisions.
While the idea may seem more emotional than the traditional, “throw out what you don’t need,” you know as well as I do that you have items you’re hanging onto because you think you should keep them.
While it’s unreasonable to ask you to empty your entire closet while you’re still living in the home, know that prospective buyers are going to snoop. You can’t just stuff your collection of shoes and cat pillows in there. Buyers will judge (even if we won’t).
3 Steps to a Clutter-Free Single Family Home
1. Carve out an afternoon to start the process.
Start with the room that needs the most TLC. Maybe your living room is stuffed with kids’ toys or your t-shirts or clothes spill out all over your bedroom floor. Grab several trash bags and move everything in the house to its proper room.
2. Recognize the mess before it gets better.
Take out everything from its proper place. Then, you’re literally going to hold everything and recognize if 1. It brings you positive energy 2. You legitimately need it. If there are items you already know you need to get rid of, by all means–put those in the donation pile first.
3. Now, organize your decluttered space.
The goal is to pare down everything you no longer feel joyful about, want, or need so that everything you own fits into its own space. You should then artfully fold and hang everything (rainbow order looks best) as if your drawers and closet were the racks of that designer boutique.
Don’t get discouraged if the process takes longer than you thought it would–it’s a big job. Set a deadline for yourself, and do your best to stick to it.
Before and After Results
Browse our before and after photos of our listings, to see the difference that decluttering and staging can make
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How Preparing Your Single Family Home for Sale Impacts Marketing Efforts
Decluttering has the highest return on any improvement when you sell your home. Whether you follow the KonMari approach or have your own system, be sure to go over your home and declutter.
Your real estate agent needs to take professional photos of your single-family home in order to market it most effectively. The cleaner it is, the less clutter it has, and the better the furniture is staged, the more amazing your photos will look. This will result in more showings and ultimately more offers.
Working with an agent that includes this type of service, can save you time, money and get the results that you are looking for.
2020-03-27T18:13:00-07:002020-03-30T13:54:18-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8092Fix it or Not? What to Ask When Prepping Your Home for SaleWhen you make the decision to sell your home, it can be tricky to know which changes would make your home sell more quickly or boost the sale price — and which would be a waste of your time and resources. Each home (and each homeowner) is different; that’s why we’ve come up with eight key questions to ask yourself before making any changes to prep your home for sale.
General Questions
These first three questions will help you take the temperature of the real estate market in your area and assess the competition.
1. How hot or cold is the market in your area? Are homes being snapped up after the first open house, or are they languishing on the market for months? Are homes being sold at or near the asking price, or for much lower? Are open houses bustling with people, or is attendance sparse? Get a feel for the market in your area by talking with your real estate agent and checking local listings. If it’s a seller’s market, you may be able to get away with doing fewer repairs and modifications before selling, and still have good results — in a buyer’s market, expect to do more work to make a positive impression on buyers.
2. How fast are you looking to sell? If you need to sell your home immediately — say, because you have already committed to buying another home or need to move because of work — it is in your best interest to do everything in your power to ensure a quick sale at the highest price possible. If you have more flexibility, and you feel uncomfortable making too many pricey changes to your home before selling, it may make more sense to focus on cleaning, decluttering and making small cosmetic changes (like painting) — particularly if the market is hot and favors the seller.
3. What is the condition of comparable homes on the market? It can be quite helpful to know a little about the homes that buyers in your area are looking at. Examine photos of homes for sale in your area or even attend a few open houses, and make a mental note of how the other homes compare to yours. Are the kitchens updated? Are the floors in good shape? If all of the other homes you see have a certain feature (for instance, an updated kitchen) that yours lacks, consider making that a priority. You don’t need to make your home exactly like all the other homes on the market; just make sure there isn’t a single factor that could give your home a disadvantage.
To Fix or Not to Fix: Deciding Which Repairs Are Worth Tackling
The next five questions will help you assess whether or not to make a specific repair or change before selling your home.
4. Does the faulty item give the impression the property has not been well cared for? Leaky faucets, cracked tiles, an overgrown lawn, broken appliances or anything else that doesn’t work as it should can immediately turn off buyers. At an open house, people often zip through quite quickly, and if they notice one or two things that send up red flags, they may not give your home another chance.
5. Can you find a less expensive fix? Let’s say you scoped out the comparable homes on the market in your neighborhood, and they all have updated kitchens but yours hasn’t been touched for some time. Rather than spend big on a full kitchen remodel, why not give your kitchen a less costly refresh? For instance, you could paint the cabinets, swap out cabinet hardware, change the light fixtures, install new counter tops, and upgrade the appliances to something current and functional but not top-of-the-line. You will put some money into it but not nearly as much as with a full remodel — well worth it if it gets your home in the running in a competitive market.
6. How much will you realistically need to lower the price if you don’t fix it? If you have a lot of costly repairs to tackle to get your home ready to sell, you may be considering selling it as is. But keep in mind that buyers looking for a fixer-upper will also be looking to discount the selling price for the repairs plus the hassle. In other words, you won’t be able to simply estimate how much the repairs will cost and deduct that from the selling price; you’ll need to deduct even more to make it worth the buyer’s time and effort. Discuss this with your Realtor and look into other fixer-uppers for sale in your area to come up with an appropriate selling price.
7. Could it be a deal breaker? Some home repairs, like a new roof, are just so major that they will scare off all but the most determined buyers. If the market in your area is hot (see No. 1) and you have ample time (see No. 2), there’s no harm in trying to sell without making the big repair, as long as you are willing to price it accordingly (see No. 6). If it’s a buyer’s market but you don’t have time to make the repair before listing, you could offer to pay for it as part of the sales agreement — otherwise it’s probably best to make the change first and then put your home on the market.
2020-02-19T07:35:00-07:002020-05-12T12:03:17-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:8090Roof Maintenance and CareWhile the roof is one of the most important parts of your home, it’s also one of the most neglected. The average homeowner gives little thought to the condition or maintenance needs of their roof until it starts to leak, at which point it’s usually too late. With a little bit of care and planning, you can add years to the life of your roof. Even better, you can also improve both the look and overall condition of the rest of your home in the process.
Check It Out Annually
Don’t wait for there to be problems with your roof before you decide to do anything about it. At a bare minimum, you should inspect your roof once a year, ideally in the fall, before cold and rainy weather set in. This lets you take care of any problems before winter issues can make them worse. While this works as a minimum amount of attention, your roof will maintain its good condition longer if you also check it in the spring or early summer to see how it survived the winter conditions.
Clean the Debris
Tree limbs, dirt and other debris can take a toll on your roof material over time. Wash the debris off your roof or climb up and remove it with a blower, being sure to follow good safety habits if you decide to go up yourself. If you’re unable to remove some of the debris safely, leave it and call a professional.
Look for Overhanging Branches
Trees near your home can provide good shade during the summer, but as winter sets in they can become a hazard. Limbs and branches that hang over your roof can not only drop seeds, leaves and pollen that can make a mess, but those limbs or branches can end up scraping against your roof and prematurely wear out sections of the roof.
Keep Your Gutters Clean
Most people clean their gutters to keep the water from falling over the side, but there are other reasons to keep them clean. If your gutters are clogged, all of that organic material holds moisture and keeps it right next to the edge of your roof. Over time, this can cause the wood in the roof edge to soften and rot. This can, in turn, lead to your gutters pulling free and dry rot along your roof eaves.
Look for Signs of Damage or Excessive Wear
Even quick visual inspections throughout the year can make a big difference in keeping your roof healthy. Areas that seem damp even when everything else looks dry, shingles or flashing that is visibly damaged or pulled up, mold growth on certain spots, damp spots in the attic and other signs of distress are all good ways of telling that there’s some problem with your roof that needs to be handled.
Certain parts of your roof need to be maintained primarily areas were flashing is integrated, roof vent collars, or sealing around nails or screws. These areas periodically need to be sealed as they wear down faster than the roofing material.
Calling in a Roofer
Even if you’re diligent when it comes to keeping your roof clean and looking for signs of damage, you may reach a point where you’ll need to bring in a roofer for repairs or a full roof replacement. If that sounds intimidating, don’t worry; I am here to help and have great roofer references for to share with you.2020-02-19T06:33:00-07:002020-05-12T12:03:50-07:00Vinicius Brasiltag:thebrasilgroup.com,2012-09-20:7900Problems to Look for When Buying an Old HouseCommon Issues With Older Homes
Older homes in Santa Clara can be anything built from the early 1900’s to the 1960’s and 1970’s. Personally I don’t consider homes built after 1980 that old. That’s mainly due to the materials and building techniques. By the 1980’s walls were being sheered and there were more seismic improvements in construction than homes built just 20 years prior. Other considerations were electrical and plumbing systems.
Of course there are huge differences between homes built in the early 1900’s from homes built in the mid 1900’s and afterward. Because of the history of our valley, most homes were constructed between the 1950’s and 1970’s.
The advantage of these older homes is that generally, they are located in prime areas and well-established neighborhoods, and feature spacious lot sizes. As times have changed so have regulations on construction, new materials, cultural changes, and with that have come new expectations from homeowners.
The following tips will give you an idea of what issues to watch out for when buying an older home. Avoid getting caught up in the potential of the house before you look carefully at these problem areas.
When buying an old house, it pays dividends to know how to pick a home inspector that will go through the house with a fine-tooth comb.
While inspecting any home is important, it becomes even more paramount to check for problems found in older homes.
1. Asbestos
Asbestos makes an incredibly useful flame retardant, which is part of why it was so commonly used in older buildings. Unfortunately, when airborne, the barbed fibers can be inhaled and lodge in the lining of the lungs, eventually leading to a deadly form of cancer. The EPA finally banned the use of asbestos in building materials, but not until 1989.
Many older homes have had the asbestos removed and replaced with something safer, but some have not. You obviously want to know if the home you are interested in still has asbestos.
Asbestos can be found around pipes, heating ducts, tiles, acoustic ceiling coatings, and even in your drywall.
While a good home inspector can point out what looks to be asbestos, you cannot tell for sure unless it is tested and you will need samples and a lab for the results.
It’s pretty hard to find an older home that doesn’t have any form of asbestos. Most experts feel that asbestos is only a problem if it is airborne, so making sure it isn’t disturbed is the key.
2. Lead paint
While lead paint is #2 here in my list, it is the #1 problem you should be addressing when buying an older home. If you have a child under the age of six living in the home, it is mandatory that the lead is removed.
When lead is consumed by people, it can cause significant health problems, particularly in growing children. Homes built before 1978 could have lead paint, which is why property owners are required to disclose the possible existence of lead paint to renters or buyers. You can paint over the old paint, but the dangerous lead paint will still be there underneath.
Most sellers don’t inspect for lead and are not aware of lead in their homes.
3. Problems found with the foundation & Sills
The foundation on older homes can be cracked, leaning, sunken or otherwise damaged and in need of repair. Everything else in the house sits on the foundation, which is why foundation issues must be addressed for safety and to keep the home livable.
Santa Clara which has expansive soils has its share of homes or neighborhoods that have homes with foundation related problems.
Of course, all foundation problems are not equal. A few settlement cracks may be normal and perfectly fine, but you need an inspector to tell you one way or the other. Foundation repair can be expensive, something to keep in mind when you consider the price of the home.
One of the issues that is even more prevalent in older homes is damage to the sill plate. The sill plate is what connects the home to the foundation. In older homes, this is generally done through bolting, and not considered sufficient by today’s standards.
Another thing to be aware of is that over an extended period of time, the sills in a home can become susceptible to water, insects and other external elements. Damage to the sill can be expensive to repair since it can involve removing siding.
4. Electrical problems
The electrical systems in old homes were not designed to keep up with modern usage. Computers, mobile devices, televisions, HVAC systems, appliances, dishwashers, washer/dryers – we use a lot of electricity, far more than people did fifty or more years ago.
If your lifestyle includes the use of a variety of electronics, you want to make sure that the home you are buying will work for your needs.
One of the more common problems to look for when it comes to an older build before the 1950’s is knob and tube wiring. Knob and tube wiring was prevalent from the 1890’s to 1930’s. It became far less used right around 1950. This type of wiring consisted of single-insulated copper conductors run within the walls or ceilings, passing through joist and stud drill-holes via protective porcelain insulating tubes.
They were supported on nailed-down porcelain knob insulators. Where conductors entered a wiring device such as a lamp or switch, or were pulled into a wall, they were protected by flexible cloth insulating sleeves called loom. The first insulation was asphalt-saturated cotton cloth, then rubber became common.
As a home buyer what you need to understand is that knob and tube systems lack the capacity to handle the level of power usage in today’s modern homes. One of the big problems with knob & tube wiring is that homeowners often abused the system by replacing blown fuses with fuses rated for higher currents. By doing so the wiring was subject to higher levels of current that risked heat damage or fire.
Another problem with knob and tube wiring was the prevalence to be damaged by home renovations. Its cloth and rubber insulation dried out and turned brittle fairly easily. Additionally, it could also be damaged by rodents chewing on the wiring.
The biggest problem, however, with knob and tube wiring is the ability to get homeowners insurance. A large percentage of insurance companies will not write insurance on homes with knob and tube. Many companies will insist the knob and tube wiring is replaced or that an electrician certifies that the wiring is in good condition.
Other considerations is the lack of electrical ground wires in the wiring of homes built before the 1970’s and 80’s. Making it very difficult to property gound outlets. Also, most electrical panels were rated for 100 amps, which is not enough for today’s modern homes.
Rewiring a home can be very expensive, but expanding the electrical service from 100 amps to 200 amps can be done for around $2500.
5. Ungrounded outlets
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Look around the home at the electrical outlets. Do they have three holes, or only two? If they only have two, it is not recommended to use any devices that require grounding in the outlet – like your computer or your nice new flat-screen television. While cheap adapters exist, they are not safe for long-term use, which means you will need to have an electrician fix the problem eventually.
6. Heating and HVAC
Lots of old homes just feature a central floor or wall furnace that was used to heat the entire home. These days people are used to forced-air heating and cooling systems which relies on a ducting system to cool or heat an entire home.
Although it’s possible to convert an old home to a new forced air system, you should understand the type of construction a home has to determine the complexity of the project. Homes with slab foundations or with lack of attic space make it difficult to install concealed ducts and can really increase the cost of the project.
7. Roofing issues
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Like everything else on the home, the roof may have seen better days. You may look up and see missing shingles and moss, or patches of new shingles placed over the old. Or, you may see what looks like a roof in good repair, but the inspector may discover issues that are not visible to you from the ground.
There are definite signs that you need a new roof. Take a look and see how to tell if you need a new roof.
Keep in mind, previous owners may have chosen to save money by adding new shingles over the old across the entire roof, which will look uniform, but is not the right way to replace the roof and will increase the cost of a new roof.
Also, keep in mind the slope of the roof and what materials are recommended for that type of roof. Just because a roof has a certain material it may not be the proper material and it may require a lot more maintenance than you think.
8. Plumbing
Most older homes were plumbed with galvanized pipes and still used those pipes. Lead contamination from pipes in homes that were built in the ’50-’60s is rare. The biggest concern for homes with older galvanized plumbing is small leaks and water pressure. Galvanized plumbing can corrode from the inside causing debris to plug up aerators and affect water pressure. Over time this becomes more of an issue and may need to be updated to copper plumbing.
The supply plumbing of the home, as well as the water main coming from the water meter into the home, may need replacing.
Supply plumbing is generally the biggest focus for homebuyers, but waste plumbing can be a bigger issue and more costly. Most waste plumbing for homes that were built in the ’50s and ’60s consisted of cast iron. Like galvanized plumbing, this corrodes and can spring leaks and even breaks.
The biggest concern for waste plumbing is the main waste line and the sewer lateral which is the connection to the city’s sewer system. It’s important to know if the main waste line is cast iron or in some cases in even older homes built in the 1940s or earlier it can be clay pipe. Homes with clay pipe sewer connections are usually guaranteed to have issues.
Some times this line can be offset and or affected by roots from a tree in the front lawn. This can affect the drainage from a home and the repairs are very expensive.
Most sellers don’t and are not required to perform inspections on their mainlines, but if there is a history of frequent blockages it may indicate a problem.
9. Energy efficiency
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Older homes were not built with energy efficiency in mind. Many do not have any insulation, or the insulation that they do have is old and ineffective.
The windows are often single-pane. To get the most out of any heating or air conditioning, you are going to need to update both the insulation and the windows in an older home.
10. Insects and pests
One of the advantages of older homes is the quality of the wood. Generally, older homes were built using older wood, and heartwood from older trees is very dense. Also in the 1950s and 1960s, the use of redwood was more prevalent due to its cost at the time. So the quality of the wood used in the 50s and 60s is more resilient to termite and water damage. That doesn’t mean that older homes are impervious to termites, but generally, the framing of older homes that have been affected by termites is still very much intact.
Newer homes use younger wood and lots of wood composite materials such as plywood and Oriented Strand Board (OSB) which are strong but not as resilient to water and pest damage. There are waterproof or treated types of plywood and OSB, but these are generally used in specific applications like subflooring. What newer homes lack in quality of wood they make up in building techniques that provide better strength and maintenance than their older counterparts.
11. A Realtor unfamiliar with older homes
Any experienced Realtor has probably sold quite a few older homes, and will be aware of all the possible problems buyers can run into. But not all Realtors are experienced, and you may wind up working with someone who has little experience in this area.
If you are considering older homes, make sure to ask your Realtor if he or she has experience with them. You are making a big purchase, one you want to be happy with. Work with an agent you feel like you can depend on to guide you effectively and look out for your interests.
One of the bigger stumbling blocks in buying an older home will be the home inspection and subsequent negotiations for any needed repairs. You are going to need someone in your corner who understands older homes and the severity of the issues that may affect the home you are considering. If your agent truly doesn’t understand the issues it is awfully hard to negotiate.
At the bare minimum, your real estate agent should attend the home inspection to hear the problems. Many agents skip the home inspection which is a huge mistake.
Final Thoughts
Buying a new home is great, but it maybe difficult due to availability and price. Older homes may be the only option if you are looking to buy in a certain neighborhood or area. While homes tend to have more problems than younger properties as long as you do your due diligence, you can protect yourself from buying the wrong home or paying too much.
Have more questions or would like to discuss your home buying situation, contact us today.2020-01-14T02:36:00-07:002020-05-12T12:04:13-07:00Vinicius Brasil