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Market Wise Q&A: What are they teaching at real estate schools? How to be unprepared and ill-mannered?

March 14th, 2010 · No Comments

Pat Kapowich for the San Jose Mercury News

Q: While shopping for a smaller home we have come across numerous real estate agents who seem, to put it bluntly, incompetent. What are they teaching at real estate schools how to be unprepared and ill-mannered?

Business risk

A: Ouch. While it is true our industry has gone through changes at the consumer’s expense, fine agents are still working in every neighborhood. You’ve learned the hard way that a buyer should search for a competent agent first, not real estate. Reject the old saying that 20 percent of salespeople do 80 percent of the business. It’s true the industry has many agents who claim high sales in a particular neighborhood. It’s also true that the cast majority of licensees are professionals first and always. Seek recommendations for an honest real estate agent who possesses deft skills. Satisfied clients are more than happy to share those names. Soon you’ll be meeting superb candidates. The result will be an astute representative who will aptly deal with those who are less qualified.

5-21-08

Send me your real estate question and I may answer it in my next column for the San Jose Mercury News

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Foundation, Retaining Wall & Drainage Expert Mark Garrison of MG Constructors ~ Part 2 ~ #147

March 14th, 2010 · No Comments

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Contact Information
MG Constructors & Engineers, Inc.
(408) 842-5599

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Silicon Valley Real Estate Housing Sales for City of San Jose ~ February 2010 vs May 2009 ~ Stats & Graphs

March 14th, 2010 · No Comments

The  February 2010 Completed Sales Report for San Jose Single-Family Homes saw a closing of 387 sales receiving 100.66% of list price. These closings represented a median price of $485,100 and an average price of $553,393. There were 890 new listings reported to the MLS for February 2010. Total Sales: $214,163,300

The May 2009 Completed Sales Report for San Jose Single-Family Homes saw a closing of 580 sales receiving 98.77% of list price. These closings represented a median price of $410,000 and an average price of $471,894. There were 816 new listings reported to the MLS for May 2009. Total Sales: $273,698,750

Real Estate Market Chart by Altos Research www.altosresearch.com

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The February 2010 Completed Sales Report for San Jose Condos/Townhouses saw a closing of 123 sales receiving 100.38% of list price. These closings represented a median price of $285,000 and an average price of $302,280. There were 335 new listings reported to the MLS for February 2010. Total Sales: $37,180,450

The May 2009 Completed Sales Report for San Jose Condos/Townhouses saw a closing of 187 sales receiving 97.48% of list price. These closings represented a median price of $220,000 and an average price of $269,653. There were 287 new listings reported to the MLS for May 2009. Total Sales: $50,425,247

Real Estate Market Chart by Altos Research www.altosresearch.com

February 2010 ~ Single-Family Homes in Central San Jose had an average of  64 days on market (DOM). Condos/Townhouses had an average of 65 DOM.

May 2009 ~ Single-Family Homes in Central San Jose had an average of 92 days on market (DOM). Condos/Townhouses had an average of 110 DOM.

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KAPOWICH REAL ESTATE derives many benefits from its
memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR), the Silicon Valley
Association of Realtors, (SILVAR), and the Santa Clara County
Association of Realtors, (SCCAOR). Not the least of which is
their statistical information on real estate transactions.

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Market Wise Q&A: It’s Not a Bad Thing to Have a Good Attorney

March 12th, 2010 · No Comments

Pat Kapowich for the San Jose Mercury News

Q: We sold our home in 2005 and are now being sued by the
buyers. We were referred to a real estate attorney. When we told
him the name of the attorney representing the buyers, he
responded nonchalantly, “Oh, I know him, he’s a good attorney!”
This unconcerned attitude makes us very uncomfortable. Why would
he say such a thing? Should we look for a “good attorney,” too?


Finish

A: It sounds like your search is over. You had the smarts to engage
a real estate attorney. Many people don’t. Big Mistake. Secondly, only
a good attorney would acknowledge the deftness of the opposing
counsel with poised self-assurance. Results will be sooner and legal
fees will be lower with a good real estate attorney on both sides of a
dispute. Last, if you were referred to this attorney by
a satisfied client, it’s time to prepare your case.

5-10-08

Do you have a question for the new real estate Q&A Market Wise column in the SJMN? If so, please email them to: pat@SiliconValleyBroker.com

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The phenomenal HOA Expert Jacquie Berry Comments on the CC&Rs, Rules, Regs, Bylaws & New Laws, et cetera ~ Program # 130

March 12th, 2010 · No Comments

KAPOWICH REAL ESTATE – Sunnyvale, CA 94086 – Silcon Valley Broker Video

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Jaquie Berry
Community Association DataSource

408.226.2437

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Silicon Valley Real Estate Housing Sales for City of Sunnyvale ~ February 2010 to February 2009 ~ Map, Graphs, Pics & Stats

March 12th, 2010 · No Comments

Sunnyvale Community Center

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The Jan/2010 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 28 sales receiving 100.40% of list price. These
closings represented a median price of $765,000 and an average price
of $731,090. There were 53 new listings reported to the MLS for Jan/2010.
Total Sales: $20,470,520

The Jan/2009 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 20 sales receiving 97.56% of list price. These
closings represented a median price of $546,500 and an average price
of $620,104. There were 75 new listings reported to the MLS for Jan/2009.
Total Sales: $12,402,099

Single Family Houses

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Feb/2010~ Sunnyvale Condos/Townhouses had 8 closed sales receiving 98.38% of list price. These closings represented a median price of $517,750 and an average price of $493,437. There were 28 new listings reported to the MLS for Feb/2010. Total Sales: $3,947,500

Feb/2009~ Sunnyvale Condos/Townhouses had 11 closed sales receiving 97.65% of list price. These closings represented a median price of $456,000 and an average price of $460,545. There were 31 new listings reported to the MLS for Feb/2009. Total Sales: $5,066,000

Condos & Townhouses

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Feb/2009~ Single-family homes in Sunnyvale had an average of 31 Days on Market (DOM). Condos/Townhouses had an average of 120 DOM.

Feb/2009~ Single-family homes in Sunnyvale had an average of 83 Days on Market (DOM). Condos/Townhouses had an average of 83 DOM.

Sunnyvale Farmer’s Market

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KAPOWICH REAL ESTATE is a leading real estate brokerage for buyers and sellers in Silicon Valley, providing an unparalleled level of research, education and service. The father/son team has extensive experience in single-family and townhouse/condo buying and selling. Their specialty is “move-up” and “down-size” transactions for clients who wish to sell a home and buy a replacement simultaneously.

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Market Wise Q&A: Inspection Report Does Not Match Up

March 7th, 2010 · No Comments

Pat Kapowich for the San Jose Mercury News

Q: We just made an offer on a house that was accepted without a counteroffer. The house was nicely remodeled and appeared to meet all our expectations. However, we were stunned upon receiving the seller’s home inspection report as it reads like it was done on a different house. There are dozens of items -mostly in the attic, crawl space, garage and about the grounds – that need to be corrected. The agents involved act as if it’s a like-new house regardless of flaws and that we are lucky to be the successful bidder. Our demands for a price reduction are not going over well. Now what?

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A: Welcome to “How not to sell a house.” Seller reports and, one would hope, any needed repairs should be posted online prior to potential buyers touring a property, let alone making an offer. All too often sellers and/or their listing agent rush a home to market without disclosures, or worse, they state, “inspections to follow.” That is asking for fewer offers, less desirable terms and, frequently, built-in renegotiations.

In your case, most preprinted contracts allow for a mechanism where buyers are allowed to ask for property defects to be corrected. This list needs to be initiated during the investigation phase of the contract. The seller is allowed so many days to respond and then the burden is back on you to either cancel the sale or move forward. Issuing a repair list on a fully disclosed or lender-controlled property is deemed undeserved.

3-6-10

Send questions to kapowich@mac.com

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After The Contruction Begins sage advice from Real Estate Attorney Nancy Chillag & Author of “How to Survive a Remodel” ~ #143

March 7th, 2010 · No Comments

Kapowich on Real Estate #143

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418 Willow Road
Menlo Park, CA 94025
phone: 650-321-6796

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Silicon Valley Real Estate Housing Sales for City of Palo Alto ~ February 2010 vs February 2009 ~ Stats & Graphs

March 7th, 2010 · No Comments

The Feb 2010 Completed Sales Report for Palo Alto Single-Family Homes saw a closing of 22 sales receiving 97.32% of list price. These closings represented a median price of $1,527,500 and an average price of $1,634,549. There were 42 new listings reported reported for February. Total Sales: $35,960,078

The Feb 2009 Completed Sales Report for Palo Alto Single-Family Homes saw a closing of 14 sales receiving 96.67% of list price. These closings represented a median price of $1,395,000 and an average price of $1,465,684. There were 77 new listings reported reported for February. Total Sales: $19,053,900

Real Estate Market Chart by Altos Research www.altosresearch.com

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Feb 2010~ Palo Alto Condos/Townhouses had 10 closed sales receiving 96.04% of list price. These closings represented a median price of $726,250 and an average price of $695,750. There were 25 new listings reported for February. Total Sales: $6,957,500

Feb 2009~ Palo Alto Condos/Townhouses had 4 closed sales receiving 98.59% of list price. These closings represented a median price of $792,500 and an average price of $853,750. There were 18 new listings reported for February. Total Sales: $3,415,000

Real Estate Market Chart by Altos Research www.altosresearch.com

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Feb 2010~Single-Family Homes in Palo Alto had an average of 64 Days on Market (DOM). Condos/Townhouses had an average of 66 DOM.

Feb 2009~Single-Family Homes in Palo Alto had an average of 64 Days on Market (DOM). Condos/Townhouses had an average of 54 DOM.

Real Estate Market Chart by Altos Research www.altosresearch.com

KAPOWICH REAL ESTATE derives many benefits from its
memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR), the Silicon Valley
Association of Realtors, (SILVAR), and the Santa Clara County
Association of Realtors, (SCCAOR). Not the least of which is
their statistical information on real estate transactions.

→ No CommentsTags: Buying/Selling · Housing Market Updates

Foundation Issues, Retaining Walls, Grading, Sloping, Drainage with Mark Garrison of MG Constructors and Engineers ~ Kapowich on Real Estate # 146

March 7th, 2010 · No Comments

Kapowich on Real Estate Program # 146 from Ryan Kapowich on Vimeo.

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Mark Garrison

MG Constructors & Engineers, Inc.

408.842.5599

→ No CommentsTags: Buying/Selling · Videos ~ Experts Interviewed