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?
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
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
TheFebruary 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 forFebruary 2010. Total Sales: $37,180,450
The May2009 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
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.
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.
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?
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
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
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
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.
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?
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.
The Feb 2010Completed Sales Report for Palo AltoSingle-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 2009Completed Sales Report for Palo AltoSingle-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
Feb 2010~ Palo AltoCondos/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 AltoCondos/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
VA of Palo Alto
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.
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.
VA of Palo Alto
