SiliconValleyBroker.com

Another Q&A from San Jose Mercury News: Now that we have to sell in this cooler market, there must be techniques to reduce the likelihood of buyers demanding repairs and/or lowball offers. Any suggestions?

Pat Kapowich — Thu, 22 May 2008 02:45:39 +0000

Excerpted from the San Jose Mercury News, SJMN

Market Wise Column
Saturday, May 10, 2008

Q: We bought our home during a hot market and were told if
we wanted to be taken seriously, we’d have to pay over list
price and have an as-is, non-contingent sale. Now that we
have to sell in this cooler market, there must be techniques
to reduce the likelihood of buyers demanding repairs and/or
lowball offers. Any suggestions?

A: Plenty. Inspect the property thoroughly and repair as many
items as possible. Consult an appraiser to help with pricing and
enlist his/her ideas for simple improvements that would add
to its salability, such as flowers, paint, carpet, etc. Consulting
a stager for one hour pays huge dividends, too. Prior to going
on the market, post all inspections, repairs and improvement
online; this is the disclosure package. Hiring a licensee with an
outstanding marketing plan and deft negotiating skills is an
absolute must. Then you ll be in a better position to attract
quality buyers who typically retain the services of talented
licensees who recommend well-qualified inspectors. Your
property and preparation will be a breath of fresh air to the
best buyers and their reps after they visit the homes of the
ill-prepared who are on their second or third price reduction.

by Pat Kapowich, Broker/Owner

Market Wise Column
Saturday, May 10, 2008

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

Market Jitters Shook Home Buyers in 2000-2001, too. Silicon Valley Real Estate Report for San Jose Citywide Housing Sales in Q-1/2001 vs Q-1/2003 vs Q-1/2005 vs Q-1/2008

Pat Kapowich — Thu, 22 May 2008 02:44:27 +0000

The Q-1/2008 Completed Sales Report for San Jose
Single-Family Homes saw a closing of 695 sales receiving 97.59% of
list price. These closings represented a median price of $660,000
and an average price of $755,553. There were 3,340 new listings
reported to the MLS for Q-1/2008 . Total Sales: $524,354,260

The Q-1/2005 Completed Sales Report for San Jose
Single-Family Homes saw a closing of 1,695 sales receiving 102.34% of
list price. These closings represented a median price of $650,000
and an average price of $714,091. There were 2,765 new listings
reported to the MLS for Q-1/2005. Total Sales: $1,210,384,444

The Q-1/2003 Completed Sales Report for San Jose
Single-Family Homes saw a closing of 1,381 sales receiving 97.78% of
list price. These closings represented a median price of $495,000
and an average price of $542,326. There were 3,421 new listings
reported to the MLS for Q-1/2003. Total Sales: $748,952,278

The Q-1/2001 Completed Sales Report for San Jose
Single-Family Homes saw a closing of 1,090 sales receiving 100.59% of
list price. These closings represented a median price of $510,000
and an average price of $572,684. There were 3,422 new listings
reported to the MLS for Q-1/2001. Total Sales: $624,225,978

~San Jose Single-Family Homes Sales Citywide~

The Q-1/2008 Completed Sales Report for San Jose
Condos/Townhouses saw a closing of 249 sales receiving 97.22% of
list price. These closings represented a median price of $440,000
and an average price of $453,203. There were 1,133 new listings
reported to the MLS for Q-1/2008. Total Sales: $8,592,000

The Q-1/2005 Completed Sales Report for San Jose
Condos/Townhouses saw a closing of 777 sales receiving 103.50% of
list price. These closings represented a median price of $400,000
and an average price of $423,343. There were 1,036 new listings
reported to the MLS for Q-1/2005. Total Sales: $328,938,055

The Q-1/2003 Completed Sales Report for San Jose
Condos/Townhouses saw a closing of 567 sales receiving 98.33% of
list price. These closings represented a median price of $325,000
and an average price of $336,681. There were 1,392 new listings
reported to the MLS for Q-1/2003. Total Sales: $190,898,452

The Q-1/2001 Completed Sales Report for San Jose
Condos/Townhouses saw a closing of 504 sales receiving 101.67% of
list price. These closings represented a median price of $321,000
and an average price of $348,225. There were 1,316 new listings
reported to the MLS for Q-1/2001. Total Sales: $175,505,668

~San Jose Condos/Townhouses Sales Citywide~

Q-1/2008 ~Single-Family Homes in Central San Jose had an average
of 63 days on market (DOM) and 91 cumulative days on market
(CDOM). Condos/Townhouses had an average of 73 DOM and
93 CDOM.

Q-1/2005~Single-Family Homes in Central San Jose had an average of 19 days on market (DOM) and 25 cumulative days on market (CDOM).
Condos/Townhouses had an average of 16 DOM and 18 CDOM.

Q-1/2003~Single-Family Homes in Central San Jose had an average
of 39 days on market (DOM) and 69 cumulative days on market
(CDOM). Condos/Townhouses had an average of 47 DOM and
71 CDOM.

Q-1/2001~Single-Family Homes in Central San Jose had an average of 22 days on market (DOM) and 29cumulative days on market (CDOM).
Condos/Townhouses had an average of 16 DOM and 20 CDOM.

It is beneficial for KAPOWICH REAL ESTATE to be a member of
Silicon Valley Association of Realtors and Santa Clara County
Association of Realtors which partly supports MLSListings,
a Multiple Listing Service (MLS). MLSListings, also maintains
statistics on real estate transactions for Santa Clara County
and San Mateo County. We love this stuff!

Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com

How to Survive A Remodel by Real Estate Attorney Nancy Chillag

Pat Kapowich — Thu, 22 May 2008 02:44:09 +0000

Real Estate Attorney Nancy Chillag

author of…

How to Survive A Remodel

Insurance during a construction project is critical. Your contractor should
have various types of insurance in place, such as general liability insurance,
worker’s compensation insurance, automobile insurance. But you need
insurance too! Check with your current homeowner’s insurance representative.
If you are going to live in the property you can probably get a rider on the
policy to cover the construction. If you are not going to live in the property,
you may need to purchase what is called Builder’s Risk Insurance. That way
if the house burns down during construction and it is not your contractor’s
fault, your insurance company will pay to have the house rebuilt to the point
it was in the construction before the fire. Without this insurance, you will
only get it rebuilt to the condition it was in prior to the start of construction.

For any homeowner thinking about or starting a remodel, How to Survive a Remodel will guide you through every step and protect you along the way

Chillag & Associates, PC
Attorneys at Law
418 Willow Road
Menlo Park, California 94025
(650) 321-6796

CHILLAG & ASSOCIATES is an innovative law firm dedicated to finding creative solutions to your unique and challenging legal problems. We pride ourselves in developing winning strategies that recognize the need to be cost-effective and practical. Your needs always come first.

City of Sunnyvale Real Estate Housing Sales Report ~ April/2008 to March/2008 to February/2008 to January/2008 ~ Map, Graphs, Pics & Stats

Pat Kapowich — Thu, 22 May 2008 02:21:16 +0000

Sunnyvale Real Estate Sales ~ Single-Family Homes

The April/2008 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 42 sales receiving 102.45% of list price. These
closings represented a median price of $897,500 and an average price
of $902,244. There were 128 new listings reported to the MLS for the month of April/2008.

Total Sales: $37,894,253

The March/2008 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 47 sales receiving 99.72% of list price. These
closings represented a median price of $940,500 and an average price
of $953,963. There were 103 new listings reported to the MLS for the month of March.

Total Sales: $44,836,267

The February/2008 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 29 sales receiving 102.79% of list price. These
closings represented a median price of $836,000 and an average price
of $862,099. There were 75 new listings reported to the MLS in February/2008.

Total Sales: $25,000,875

The January/2008 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 16 sales receiving 98.07% of list price. These
closings represented a median price of $766,500 and an average price
of $765,300. There were 74 new listings reported to the MLS in January.

Total Sales: $12,244,800

Sunnyvale Real Estate Sales ~ Single-Family Homes

Sunnyvale Real Estate Sales ~ Condos & Townhouses

April/2008~ Sunnyvale Condos/Townhouses had 10 closed sales receiving 98.22% of list price. These closings represented a median price of $596,000 and an average price of $547,408. There were 57 new listings reported to the MLS for the month of April/2008.

Total Sales: $5,474,088

March/2008~ Sunnyvale Condos/Townhouses had 15 closed sales receiving 97.59% of list price. These closings represented a median price of $605,000 and an average price of $595,066. There were 43 new listings reported to the MLS for the month of March.

Total Sales: $8,926,000

February/2008 ~ Sunnyvale Condos/Townhouses had 15 closed sales receiving 99.25% of list price. These closings represented a median price of $559,000 and an average price of $588,982. There were 47 new listings reported to the MLS in February/2008.

Total Sales: $8,834,732

January/2008~ Sunnyvale Condos/Townhouses had 7 closed sales receiving 98.46% of list price. These closings represented a median price of $705,000 and an average price of $671,396. There were 35 new listings for the month of January.

Total Sales: $4,699,777

Sunnyvale Real Estate Sales ~ Condos & Townhouses

View Larger Map

April/2008~ Single-family homes in Sunnyvale had an average of 23 days on
market (DOM) and 30 cumulative days on market (CDOM).
Condos/Townhouses had an average of 43 DOM and 58 CDOM.

March/2008~ Single-family homes in Sunnyvale had an average of 39 days on
market (DOM) and 42 cumulative days on market (CDOM).
Condos/Townhouses had an average of 30 DOM and 56 CDOM.

February/2008 ~ Single-family homes in Sunnyvale had an average of 37 days on market (DOM) and 55 cumulative days on market (CDOM).
Condos/Townhouses had an average of 65 DOM and 84 CDOM

Jan/2008~ Single-family homes in Sunnyvale had an average of 30 days on
market (DOM) and 70 cumulative days on market (CDOM).
Condos/Townhouses had an average of 28 DOM and 44 CDOM.

Pat Kapowich, “Negotiating Smooth Transactions Throughout The South
Bay” SiliconValleyBroker.com

New on Market ~ 663 Princeton Drive, Sunnyvale 94087 ~ Open this Weekend! Saturday & Sunday 5/24 & 5/25

ryan — Wed, 21 May 2008 21:16:09 +0000

View the Virtual Tour

Sunnyvale Beauty in Old Orchard Neighborhood

4 Bedrooms, 2 1/2 Bathrooms
Originally Builder Optional 5 Bedroom Home
Enclosed Front Courtyard
New Roof & Gutter
Prime Sunnyvale Location
Walking Distance to Sunnyvale Parks & Schools
Easy Access to Major Commute Routes

View this Home on MLSListings.com

Step Down Living Room with Hardwood Floors

Formal Dining Room
Wood Burning Fireplace
Large Picture Window Overlooking Private Courtyard
Central Forced Air Gas Heating

View this Home on Yahoo Real Estate

Extended Family Room

Wood Burning Fireplace
Indoor Laundry Room
Tarkett Flooring
Recessed Lighting
Direct Access To Patio & Garage

View this Home on Realtor.com

Gorgeously Remodeled Kitchen

Maple Cabinets
Corian & Granite Tile Counters
High-end Appliances - Sub Zero Refrigerator
Dine-in Kitchen with Direct Access to Newly Landscaped Backyard
Recessed Lighting

View this Home on Movoto.com

Lovely Old Orchard Neighborhood

Parks & Community Center Nearby
New Section 1 Termite Clearance
View Disclosures at MyEscrowInfo.com Password: 8c7a00-b8d70
1 Year Home Warranty
2,342 Square Feet (County Records)
5,663 Square Foot Lot (County Records)
Built in 1964 (County Records)

OPEN HOUSES Saturday/Sunday 5/24-25

View Larger Map

Pat & Ryan Kapowich
Sunnyvale Natives
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com

Real Estate Attorney Nancy Chillag comments on Remodeling

ryan — Wed, 21 May 2008 02:36:10 +0000

Excerpted from Nancy Chillag’s book

How To Survive a Remodel

If your relationship is in any type of trouble, do not start a remodel. Psychologists, therapists and marriage counselors probably all agree that one of the most stressful things for a marriage to endure is a remodel. The normal things that can put stress on a marriage are magnified during construction. Money (or the lack thereof) is a constant battle for couples. Changes during a remodel and choosing between inexpensive and expensive finish items will be dealt with on a daily basis. While everyone wants to belong to “one big happy family,” spouses and children need their own space at times. If you are living in the house during construction, there will be a lot less space to occupy. Privacy will be at a premium.

If you can’t make a commitment early on to work as a team, then perhaps a remodel is not right for you. And if children are involved, multiply the stress factor by ten. Failure to rally all parties behind the endeavor will be disastrous and may do permanent damage to a relationship.

Nancy Chillag

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

email: info@chillag.com

For any homeowner thinking about or starting a remodel, How to Survive a Remodel will guide you through every step and protect you along the way

San Jose’s Santa Teresa Real Estate Housing Sales Report ~ Map, Graphs, Pics & Stats ~ April/2008 vs March/2008 vs February/2008

Pat Kapowich — Wed, 21 May 2008 02:20:47 +0000

by Ryan Kapowich

The April/2008 Silicon Valley Real Estate Sales Report for Santa Teresa Single-Family Homes saw a closing of 12 sales receiving 94.27% of list price. These closings represented a median price of $550,000 and an average price of $560,979. There were 39 new listings for the month of April/2008.

Total Sales: $6,731,750

The March/2008 Silicon Valley Real Estate Sales Report for Santa Teresa Single-Family Homes saw a closing of 11 sales receiving 97.01% of list price. These closings represented a median price of $560,000 and an average price of $570,954. There were 56 new listings for the month of March/2008.

Total Sales: $6,280,500

The February 2007 Silicon Valley Real Estate Sales Report for Santa Teresa Single-Family Homes saw a closing of 11 sales receiving 99.27% of list price. These closings represented a median price of $709,000 and an average price of $704,222. There were 27 new listings for the month of February.

Total Sales: $7,746,450

Santa Teresa Single-Family Home Sales

View Larger Map

April/2008~Santa Teresa Condos/Townhouses had 1 closed sales receiving 100.00% of list price. These closings represented a median price and average price of $488,000. There were 12 new listings for the month of April/2008.

Total Sales: $488,000

March/2008~Santa Teresa Condos/Townhouses had 2 closed sales receiving 97.95% of list price. These closings represented a median price and average price of $515,000. There were 8 new listings for the month of March/2008.

Total Sales: $954,000

February/2008~Santa Teresa Condos/Townhouses had 2 closed sales receiving 99.90% of list price. These closings represented a median price and average price of $515,000. There were 8 new listings for the month of February.

Total Sales: $1,030,000

Santa Teresa Condos & Townhouses Sales

April/2008~Single-Family Homes in Santa Teresa had an average of 66 days on market (DOM) and 151 cumulative days on market (CDOM). Condos/Townhouses had an average of 27 DOM and CDOM.

March/2008~Single-Family Homes in Santa Teresa had an average of 88 days on market (DOM) and 98 cumulative days on market (CDOM). Condos/Townhouses had an average of 118 DOM and CDOM.
vs

Feb/2008~Single-Family Homes in Santa Teresa had an average of 38 days on market (DOM) and 74 cumulative days on market (CDOM). Condos/Townhouses had an average of 118 DOM and CDOM.

Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com

Another Q&A from San Jose Mercury News ~ Case of the Disappearing Agents ~ (What Happened to Protecting a Client’s Interest?)

Pat Kapowich — Tue, 20 May 2008 02:19:05 +0000

Excerpted from the San Jose Mercury News, SJMN

Market Wise Column, Saturday, April 5, 2008

Q: We were referred to a top agent whom we spoke on the phone
and really liked. However, when we arrived in town, her husband
met us instead and we never heard from her again. We found a house
that we liked and signed a contract with him and then he disappeared as
well. He won’t return our calls. We live 600 miles away and need help.
What can we do?

A: It is important to note that California recognizes the agent at the company
level. Meaning, your agent is actually the firm representing you as the principal.
The state mandates that the sales force of licensees must be supervised by a
broker/manger. Many top sales-associates delegate “working with buyers” to
licensed underlings. This process is not a problem if agreed to upfront and the
licensee has the skill-set to navigate a buyer through the complex home-buying
process. Many buyers are surprised to learn that finding the right home is only
the tip of the iceberg. Call the firm’s broker and demand that this licensee be
replaced immediately with an astute buyer’s rep. Otherwise, the consequences
can be titanic.

by Pat Kapowich, Broker/Owner
Excerpted from the San Jose Mercury News, SJMN

Market Wise Column, Saturday, April 5, 2008

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

So You Want to Buy a “Short-Sale” or Foreclosured Property? Real Estate Attorney Douglas White comments on the Ins & Outs of Lender Controlled Properties~ Program #138

Pat Kapowich — Tue, 20 May 2008 02:06:41 +0000

Kapowich on Real Estate #138

San Jose Citywide Real Estate Housing Sales Report in Q-1/2001 vs Q-1/2003 vs Q-1/2005 vs Q-1/2008

Pat Kapowich — Tue, 20 May 2008 02:03:22 +0000

~San Jose Single-Family Homes Sales Citywide~

~San Jose Condos/Townhouses Sales Citywide~

Q-1/2005~Single-Family Homes in Central San Jose had an average of 19 days on market (DOM) and 25 cumulative days on market (CDOM).
Condos/Townhouses had an average of 16 DOM and 18 CDOM.

Q-1/2003~Single-Family Homes in Central San Jose had an average
of 39 days on market (DOM) and 69 cumulative days on market
(CDOM). Condos/Townhouses had an average of 47 DOM and
71 CDOM.

Q-1/2001~Single-Family Homes in Central San Jose had an average of 22 days on market (DOM) and 29cumulative days on market (CDOM).
Condos/Townhouses had an average of 16 DOM and 20 CDOM.

Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com