Do Neighbors Affect Property Values?

One of the best things about a home can be wonderful neighbors. But sometimes, neighbors can also be an issue.

Loud noises, unkempt yards and barking dogs can have an impact on property value. When you tour a home, make note of more than just the house, be sure to consider your potential neighbors as well.

The discussion about neighbors and the community is an important conversation to have with your real estate agent, whether you are buying a house or selling. As a buyer, make sure your agent understands your wants and needs so your agent can help you find the home and the neighborhood of your dreams. As a seller, enlist your agent's help to identify potential neighborhood challenges to address before your home goes on the market.


What Buyers Can Do

If you're thinking of buying in a certain area, your agent can do  research on the neighborhood. It also is beneficial for you to visit the neighborhood at different times of the day on your own or with your agent so you can see what kind of atmosphere exists at night, in the early morning and other times of the day. Walk around the neighborhood and if neighbors are outside, talk to them. This will help you gain some first hand knowledge of the neighbors themselves and how they enjoy living in the area.

What Sellers Can Do

If you're planning to sell your home, talk with the owners of neighboring properties. Let them know you are selling your home and want to present the neighborhood in the best possible light.

Don't conceal real problems or create a facade during showings. But working with your neighbors to help get the neighborhood ready to show along with your home is perfectly acceptable.

As you're packing up your  belongings and trashing collected junk, offer neighbors the use of your collection bin for free to dispose of their unwanted items, especially those items in front yards or driveways that are unsightly.

As you're working on your own landscaping, consider buying a nice outdoor potted plant for the neighbors to place on their doorstep. Or go a step further and offer to help them tend their yard.

General Neighbor Relationship Tips

Have you already moved in and then discover a problem?  Here are a few tips that can help diffuse and resolve issues with your new neighbors.

1. Let the neighbors know about the situation and how it is causing a disturbance. Be courteous in your approach. It could very well be that your neighbors don’t realize the issue. By giving them the benefit of the doubt, you will be kinder in your approach, as well as received on a good note.

2. If your neighbors are hard to contact by phone or won't answer their door, leave them a short, polite note.

3. Addressing the issue is the first step. As a priority, offer to compromise and also offer solutions. This shows that you have thought this through and understand that to peacefully co-exist, both parties must be willing to do some work.

4. Be informed. Know the ordinances and regulations on noise, trash and curfews that govern your homeowner's association, municipality, county and/or state. Often times, if a home is in an HOA managed community, the association can handle the issue.

5. Don't forget the golden rule. If you want good neighbors, you should be one as well. By approaching the issues with empathy and understanding, you are most likely to have a successful dialogue and solution.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

                      408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com 

Ranked #21 out of over 16,000 real estate agents in Santa Clara County.

7 Things Your Realtor Does Behind Your Back

For every hour an agent spends in your presence, he or she will spend an average of nine hours out of eyesight working on your behalf. Why? Because agents don’t get paid if they don’t close the deal!

So if you’re wondering what their commission is actually going toward, we’ve compiled a list of things agents do when you’re not watching.

They shop property online

Your agent's real estate research includes looking up flood zones, gathering property-specific data, researching schools and much more.

Plus, listings come and go fast in the real estate world, so agents need to check their multiple listing service database constantly. Sometimes the process of matching up properties with clients can take a lot of time.

They go prospecting

Many Realtors spend time driving around checking out new listings. This is a great way to preview properties, and network with other agents about your listings.


They spend their own money on marketing

In addition to not getting paid until a deal is done, selling agents also spend their own money on marketing: email marketing campaigns, newspaper ads, fliers & brochures, staging, photography, and placements on listing sites.

They write up offers and counteroffers

Offers and counteroffers are an extremely important part of the transaction, as they can save or net you thousands of dollars on a sale. Yet getting to the right price requires written offers and counteroffers every step of the way.

They stick around for inspections

You might not be present when it’s inspection time, but often your agent will be. This gives the agent an immediate knowledge of what issues a home may have. They will then make recommendations to their sellers on what to repair or to the buyer's on how to negotiate.

They smooth bumps in the road

Not every sale goes smoothly but good agents try to shield their clients from the high drama unless there’s a reason to fill them in. Agents put out fires, fixing issues that buyers and sellers don't need to be bothered with.

They keep you calm when the pressure’s on

Good agents don’t just hand you a house. They can also act as a therapist, making your sale much less stressful. Your agent  problem-solves and keeps a positive approach, coming up with positive solutions. 

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

            408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

Getting the Best Value for Your Home

A strategic sales plan, coupled with a smart buy in your new location will ensure that you recoup the maximum value for your home.

Plan Strategically
Consult with a local real estate agent to ensure your house is priced competitively and shows its best. There are three key factors to getting a home sold—location, price, and condition and only two are under your control: price and condition. Of the two, price is more significant. Remember that if a home is priced properly, it will compensate for poor condition, but whatever the condition, it will never overcome a incorrectly priced home.

The best price you’ll get in today’s market is the one you get now. Don’t worry about where the market has been, keep your focus on where it is going. The price your neighbor down the street got six months ago is not relevant in a market where your house is competing with others from all across town. A local, knowledgable real estate agent will be able to help you decide how to pinpoint your price with precision.

Buy Smart
Whether you are moving to an area where prices are in a downturn or have plans to move up to a nicer home in the same town, selling your house now can get you into the home of your dreams. Whether home prices are on the rise or on the decline, either presents a great opportunity for a savvy homeowner looking to move up. Even if your house price may be lower, the loss at sale can be made up by greater savings at purchase because generally, if home prices are declining, that tends to occur across the board.

By teaming with an experienced local agent who knows how to work with the current market and who can assist in showcasing your home, you'll will get the most from the sale of your home.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

                      408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

6 Staging Tips for Sellers

Professional stagers are designer/decorators charged with making your house more marketable.

Prepping your home for getting the best offer possible means decorating rooms, walls, floors, and ceilings in a way that encourages potential buyers to imagine themselves in your home. Stagers favor neutral walls, simple layouts, and minimal artwork.

“There’s a big difference between designing for someone’s tastes and remerchandizing a home to appeal to as many people as possible,” says Kathy Burke of Sensational Home Staging in Danville, CA. Getting it right is a critical and enigmatic art. Don’t panic! We got some stagers to reveal their secrets to help you navigate the process.

1. Don’t take it personally

We know you love the way you set up your living room. That eclectic collection of wicker baskets from all your European travels stacked up in the corner? It’s the perfect detail for you—but not for your stager. Not even close.

So here’s the thing: When they tell you what to change (and they absolutely will), don’t be offended. It doesn’t mean they think your style is awful. Not necessarily, anyway.

“It’s not about whether I like something or not,” Burke says. “It’s about how we’re going to present it. I know what photographs well and what looks dated.”

Her favorite clients are the ones who know tough feedback is coming and don’t care: “I walk in and they say, ‘You can’t hurt my feelings. Do whatever you want.’”

2. Toss your stuff, and disconnect emotionally

For many sellers, home staging will be the first time they realize they’re really, actually moving. Family pictures come down, the sofa goes into storage, and suddenly this place you called yours is looking less and less like you.

If you need to do some emotional processing, we understand: It’s hard to put your family home on the market. But don’t subject your stager to your stress. Detach. Chill out. Help the process, don’t hinder or fight it. Keep your eye on the prize: selling your home at the right price, to the right buyers, within the right time frame.

What does that really mean? Try removing as much of your stuff as possible before the stager comes. By tackling spring cleaning you’ll not only accomplish some necessary decluttering before your move, but you’ll also get used to the idea that this is no longer your home.

“We need to make sure that they’re truly ready to sell their house,” says David Peterson of  Synergy Staging based in Portland, OR. “That’s a big part of emotionally disconnecting.”

3. Move out (if you can)

Both Peterson and Burke find staging a home vastly easier when it’s vacant. If you can afford to move out when the home goes on the market, do it.

“It’s easier for them, it’s easier on their pets, and it’s easier on the buyer,” Burke says. “We can create one cohesive look and don’t have to blend anything.”

Occupied houses present more of a challenge (and take substantially more time): Stagers have to accommodate daily living, as well as risk the homeowner not preserving their layout (or any rented furniture).

Occupied homes can even cost more to stage. “It’s just a lot more work, timewise, when the owners are still living in the place,” Burke says.

4. Stay out of the picture(s)

According to the 2014 Profile of Home Buyers and Sellers, 92% of buyers use the Internet to look for homes—meaning the pictures posted alongside your home’s listing are wildly important.

“Much of what I’m doing is to appeal to people through photographs,” Burke says. “I hope that photo will touch people and they’ll say, ‘That’s going on my short list.’”

Peterson aims to be the “last person in before the photographers. We want those pictures to look great.”

But no one wants the buyers to be disappointed with the home’s real-life presentation after seeing photos online. So here’s a bonus: If you’re staying in the property, make sure to keep it in tiptop shape.

5. Get your money’s worth

Staging isn’t a last-minute addition before your home officially goes on the market. Stagers work far in advance and can’t always fit in last-minute work. Costs start around $1,250, depending on your state of residence, square footage, and what—if any—furniture you rent, according to the Real Estate Staging Association.

That might seem like a lot of money to spend on a home you’re about to sell, but both Burke and Peterson say staging is an investment with a very high return. “Anything we put in, we want to make sure you’re getting your money back,” Burke says. Some realtors include staging as part of their budget to market your home.

6. Stay on schedule

Don’t dillydally on making the recommended changes for your stager, who can’t begin rearranging until you’ve finished renovating. Usually the requested changes are small (new paint, fixing chipped tiles in the bathroom, etc.).

Not finishing small jobs on time can push the entire project back.

“If we get there and a place hasn’t been cleaned, or there’s still a painting crew, we can’t do our jobs. Then we have to charge them a fee, leave, and then reschedule,” Peterson says. “If we’re booked out several weeks, it really makes it hard.” And maybe even more expensive. So get moving.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

          408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

12 Ways to Make a Fantastic First Impression

First impressions count.

You may not be able to tell a book by its cover, but you’ll likely pay more for a book if the cover is charming and attractive.

If your home is for sale, or soon will be, creating a positive first impression is one of the most important things you can do. Thankfully, it’s not hard. Here are 12 steps you can take; most of them fall under simple maintenance and organization, but some of them could possibly help you decide when it’s time to move.

How to impress visitors

1. Go outside. Mow the law, prune bushes, remove dead tree branches, and get rid of outdoor furniture you don’t plan to take with you.

2. Clean the front door and lintels, or paint them if necessary.

3. Check for leaks throughout the house. A drip may not seem important, but it could suggest poor maintenance elsewhere in the house. Don’t leave room for doubt in a buyer’s mind.

4. Clean out closets and storage areas. Donate old clothes and furniture to local charities. This will create a sense of greater space in the home, and mean fewer items to move.

5. Professionally clean the carpets. This is especially important if the carpeting will remain for the new owners.

6. Flip every switch to make sure the electrical works throughout the house. Prospective home buyers will do this. Fix any switches that need help.

7. Caulk around tubs and sinks. New caulk looks better than old caulk, and you’ll also prevent those tricky leaks.

8. Replace lightbulbs that don’t work and use as much wattage as the fixture will take. Good illumination makes your home seem light and airy.

9. Tour the property from the perspective of a first-time visitor. Is there anything that may seem uncomfortable to visitors? The 30-year-old green shag carpeting can be off-putting and mirrors in poorly lit basements can be dangerous, for example.

10. Clean out medicine cabinets. Remove out-of-date items, and consider removing prescription pills when buyers visit. Buyers might look in every nook and open every door. No one wants to be embarrassed by what they find.

11. If you have a pet, make arrangements to have it elsewhere when your home is being shown. Some people have allergies. No one wants to be barked or pawed at when they enter.

12. Ask your broker to examine the property for specific showing tips to make your home more attractive when compared to others in the area.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

 

408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

What Stays With the House When You Move?

When you’re selling your home, it is natural to assume that anything you can safely remove is yours to keep—like the light fixtures you painstakingly cleaned and repaired, or the appliances you bought last year—but the buyer may want some of those items, too.

Rather than keep everything, you should decide what you can keep and what you should leave as a way to entice buyers into making an offer. Here’s what you should consider:

What stays with the house?

Generally, certain items stay with the house when you sell and move. Here’s what to expect:

Built-ins: Built-in bookshelves, benches, and pull-out furniture generally stays inside the home.

Landscaping: Trees, shrubs, and any flowers planted in the ground should stay in the yard.

Wall mounts: If you have TV wall mounts or picture mounts that might damage the wall if you remove them, it is a good idea to leave them in place when you move.

Custom-fit items: If you have custom-made curtains, plantation shutters, or blinds, leave them on the windows and doors.

Hardware: If you upgraded the knobs and drawer pulls in your bathrooms and the kitchen, you’ll either have to leave those behind or install replacements before you move.

Alarm systems: Wireless alarm systems are designed to be removed. Otherwise, leave the alarm monitoring station attached and either relocate or cancel the monitoring service.

Smoke detectors: Smoke detectors and sprinkler systems should stay in the house, especially if you plan to move before selling the house.

What can you take?

While you’re expected to leave some items behind, in general your belongings are yours to keep. Here are some examples:

Patio furniture, lawn equipment, and play sets: If you have a wooden swing set in the backyard and a bistro table on the front porch, take those items with you.

Appliances: Some lenders require that a home have an oven installed before approving a loan, but for all other appliances, it’s up to you to decide what you will take and what you will offer as part of the home.

Some light fixtures: Generally, homeowners leave light fixtures behind, but if you’re attached to a certain fixture, you can make arrangements with the buyer to take it.

Built-in kitchen tools: If you can safely remove a mounted spice rack or the pasta arm, you can take it with you.

Rugs, basic curtains, wreaths: Small decor items like rugs or curtain rods that can be safely removed can be taken.

What should you consider leaving?

Some of your personal items can be used to help sell your house—or increase the asking price. Before you take everything just to take it, consider offering some hot items like the following:

Appliances: Homeowners, especially new homeowners, don’t always have their own appliances. Many buyers would be more likely to place an offer on a home if it came fully stocked with appliances.

Custom swing and play sets: If you have a swing set or playhouse your children have outgrown and you notice a potential buyer has children, offer to include the item with the deal.

Kitchen built-ins: Built-in spice racks, pantry organization, and windowsill shelves can really help sell a kitchen. Consider offering the items to an interested buyer.

Light fixtures, curtains, rugs, and other upgrades: If you’ve upgraded the light fixtures or have custom rugs in the entryway, a buyer may be willing to increase his or her offer to keep those items in the home.

If you’re not sure what would entice a buyer, ask your Realtor® to provide suggestions.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

 

408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

What You Need To Know

The homebuying process is one of discovery. Throughout, you will receive crucial information on the condition of the property – from its physical attributes to the condition of its title. Piece by piece, you will learn what you need to know to make an informed purchase. Following is an explanation of the most significant parts of the puzzle.

Transfer Disclosure Statement
The seller of your property is required by law to furnish you with a "Real Estate Transfer Disclosure Statement,” (TDS), in which the seller will make known to you important disclosures about that property, including any known existing conditions, any hazards or nuisances. For example, if the property drains improperly or if there are cracks in the chimney and the seller knows about it, he or she is required to let you know via the TDS.

In the TDS, the seller’s agent and the buyer’s agent are also obligated to inspect the property and to provide results regarding any known existing conditions, any hazards or nuisances. If the TDS is delivered to you after execution of the offer to purchase, you have three days if the form is delivered to you in person or five days if it is delivered to you by mail, to use it to terminate the contract if you are not satisfied with its contents.

Home Inspection Report
Just as important as the TDS is the home inspection report. While the TDS documents the property’s condition, to the knowledge of the seller, a home inspection will provide you with the additional insight of a construction expert.

As a result, I advise anyone buying a home to first have it inspected by a professional home inspector who is:

• a licensed general contractor
• a member of a recognized home inspection trade group
• has professional liability insurance

Your home inspector will provide you with a written report, which will advise you of the physical condition of the property as determined from the inspection of accessible areas. Generally, the cost is approximately $300-$500.

The report also will identify areas that could not be inspected and may recommend additional inspections by other experts in areas including roofs, foundations, soils, drainage or pools. Less usual, but also recommended from time to time, are inspections for health-related risks such as radon gas, asbestos or problems with water or waste disposal systems. While additional inspections will cost more money, they definitely are worth it if they uncover an expensive defect in the property.

A general inspector will focus on the structure, construction, and mechanical systems of the house, and will make you aware only of repairs that are needed. Generally, an inspector checks (and gives estimated prices for repairs on): the electrical system, plumbing and waste disposal, the water heater, insulation and ventilation, heating and cooling systems, water source and quality, the foundation, doors, windows, ceilings, walls, floors, and roof.

The inspector does not evaluate whether or not you're getting good value for your money.

Usually, there will be an inspection clause in the contract. Sometimes, the seller will provide a report of a home inspection aid for by the seller. If conditions or defects are disclosed in the report you can:

• Negotiate for the seller to fix the problems prior to close of escrow,
• Receive a credit from the seller for an amount to make the repairs; or
• Cancel the contract if your and the seller cannot agree on the repairs or their costs.

It’s not required that you attend the inspection, but it's a good idea and I strongly recommend that you do, since generally you will learn a great deal about your property. The inspection also provides a great opportunity to hear an objective opinion on the home you would like to purchase and it is a good time to ask general, maintenance questions of an expert.

Pest Control Inspection Report
While you are in escrow, you should have the property inspected by a licensed pest control professional. While termites or other pest infestations are not common, pest control operators also are trained to look for dry rot, usually caused where wood comes into continuous contact with water. Dry rot can be serious and should be fixed immediately. If any condition is discovered in a pest control report, it needs to be corrected and the property re-inspected by a certified pest control inspector, before you close the sale of the home. Pest control reports generally cost around $200-$300.

Smoke Detector and Water Heater
During the escrow process, sellers are required to provide for you evidence that they have equipped the home with smoke detectors, and that water heaters are braced, anchored, or strapped to resist falling in an earthquake.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

What Happens When You List Your Home

What Happens When You List Your Home  

If you list your home with me, be assured that, a high priority of mine, is keeping you informed of all interest and market activity. Whether by phone, by e-mail, or by written notification, I will report regularly to you and keep you apprised of all relevant information including:

• Broker feedback from broker tours and open houses
• Client feedback from showing appointments including broker feedback
• Advertising notifications
• Any new market data or trends affecting the sale of your home
• Review of your home’s marketing activities
• Suggested adjustments to your marketing plan or pricing strategy

If you are interested in selling your property but have not listed yet, it would be my pleasure to show you all the ways in which I can effectively market your property through a Listing Presentation.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

Selling Your Home: Where To Begin

Selling Your Home: Where To Begin

First Impressions

Remember what first attracted you to your house when you bought it? What excited you about its most appealing features? Now that you're selling your home, you'll need to look at it as if you were buying it all over again.

A spruced up house makes a great first impression on potential buyers. An attractive property grabs their attention and makes them excited about finding a house that looks and feels well-cared for. Because buyers know they’ll encounter fewer problems if they buy it, your house becomes more appealing and stands out from the competition. So if you prepare your home correctly, you’ll save time selling it when it’s on the market.

A good first impression makes an impact on a number of levels. It’s not just the way your house looks to potential buyers, but how it feels and smells to them, how their friends and family will react, how they imagine it would be to live there.

With simple improvements you can grab the attention of potential buyers and help them see why your house is right for them.

Curb Appeal

The "Wow" factor — that first visual, high-impact impression your home makes on potential buyers — can turn a looker into a buyer. To determine your property’s curb appeal, drive through your neighborhood and note other properties; then approach your own house as if you were a potential buyer. How does it look? Does it "wow" you? Will its curb appeal attract buyers? Note what needs improving, such as trimming trees, planting shrubs, or painting gutters. Little things convey that you’ve cared for your home, and this is your opportunity to sell that important message to buyers who are shopping from the street, simply cruising neighborhoods just looking for houses for sale. To get them through your door, do what you can to make your property look like someone’s dream home.

Paint/Stain

If it’s peeling or blistering and you can’t remember the last time you painted it, your house needs some attention. That also goes for stain that is significantly faded. A newly painted or stained exterior will help sell your house faster. And whether you do it yourself or hire someone, you’ll also increase your home’s value.

In the Yard

Grab people’s attention by enhancing your yard and landscaping. If your house looks inviting and well-maintained from the street, people will imagine that it’s attractive on the inside, too.

• Prune bushes and hedges; trim trees.
• Keep your lawn looking healthy and green by mowing it often, fertilizing it, and keeping it edged and trimmed.
• Clean up and dispose of pet mess.
• Weed your gardens; add fertilizer and mulch; then plant colorful flowers.
• In winter, keep your driveway and sidewalks shoveled, de-iced, and well-lit.
• Stack firewood, clean out birdbaths, repair and paint fences.

The Front Door

An attractive entry catches a buyer’s eye and says, "Welcome," so highlight this area of your house with decorative touches, such as a wreath on the door or new shrubs and flowers around the steps. For an even grander entry, clean and paint your front door, or replace it with a new one for a few hundred dollars. Don’t forget to fix and polish doorknobs, repair torn screens, and then put out that new welcome mat.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

Seller Disclosure Requirements

During the escrow process, you must inform the buyer of specialized conditions that affect your home. These may include the following conditions:

Lead Paint

Sellers of properties built prior to 1978 have the following obligations:

• Provide buyers with a HUD pamphlet entitled "Protect Your Family From Lead in Your Home"
• Disclose all known lead-based paint and related hazards and provide any available reports
• Include a standardized warning as an attachment to the contract
• Complete and sign statements verifying that requirements have been met
• Retain the signed acknowledgement for 3 years
• In addition, you must provide the buyers with a 10-day opportunity to test for lead

Natural Hazards

California law requires sellers to disclose, via a "Natural Hazard Disclosure Statement" or NHD, if properties are located in one of six predetermined "natural hazard" zones. (If the property is not within one of these zones, you, of course, have no such obligation.)

The six zones are:

1. A flood hazard zone as designated by the Federal Emergency Management Agency (FEMA)
2. An area of potential flooding after a dam failure (also known as an inundation area)
3. A very high fire hazard zone
4. A wildland fire area, also known as a state fire responsibility area
5. An earthquake fault zone
6. A seismic hazard zone

If an NHD is delivered to the buyer after both parties have signed the Purchase Agreement, the buyer will have three days to rescind the agreement. However, if the buyer received the NHD before they signed the Purchase Agreement, then they cannot use the NHD to rescind.

Mello-Roos Districts

Especially (but not exclusively) if you are selling a home in a newer area, you may be within a Mello-Roos tax district, and you must provide to the buyer a "Notice of Special Tax." If this notice is delivered to the buyer in person, they have three days to rescind their offer. If it’s delivered via U.S. mail, they have five days to decide.

Basically, a "Mello-Roos Community Facilities District" is formed by a local government, district, or agency to finance public services and facilities including police and fire departments, ambulance and paramedic services, parks, schools, libraries, museums and cultural facilities.

Condominiums etc.

If you’re selling a condominium, townhouse or other planned development (for purposes of this discussion, we will call them all "condominiums"), there are the buyer needs to know about common areas (such as greenbelts and recreational rooms) and the homeowner’s association.

The buyer will be required to make monthly payments, known as regular assessments, to maintain common areas, as well as special assessments to replace a roof or repair the plumbing, as determined by the homeowner’s association (HOA.)

Condominiums also may have regulations regarding architectural requirements, limitations on pets, and age restrictions (i.e., senior housing). These must be formally disclosed to the buyer during escrow. You may provide this information via the following documents, to the extent that they exist and are available:

Declaration of Restrictions:

• Commonly known as "CC&Rs", or Conditions, Covenants and Restrictions
• Articles of Incorporation or Articles of Association
• Bylaws
• All current financial information and related statements, including operating budget, estimated revenue and expenses, HOA reserves, estimated remaining life of major components (including roofs, plumbing etc.), and regular and special assessments
• A statement describing the HOA’s policies and practices in enforcing lien rights or other legal remedies for default in payment of its assessments
• A summary of the HOA’s property, general liability, and earthquake and flood insurance policies
• On existing HOA’s, a statement describing any restrictions on the basis of age, such as authorized senior citizen housing

Many smaller HOAs will not have all of these documents, but must provide what they do have.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

                                        

    

              
                      Top Producing Agent at Keller Williams Bay Area Estates, Los Gatos
                   
                            408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

Preparing Your Property for Sale

Fully preparing your home for sale can make a considerable difference in the time it takes to sell it. You can eliminate buyer objections before they arise by making necessary repairs and improvements, some of which are suggested in the article.

Outdoors

• Spruce up your garden and lawn; trim shrubbery and replace dead plants.
• Yard and patio should be neat; outdoor furniture clean and in good shape.
• Manicure your front yard; make sure your driveway and entryway are free of clutter.
• Kitchen Sinks, appliances and countertops should sparkle. Remove any clutter.
• Wax the floor.
• Clean the oven, range and other appliances.
• Clean tile and grout. Replace if necessary.

Exterior

• Ensure the house numbers, mailbox and exterior lighting are in good condition.
• Touch up with fresh paint as needed.
• Inspect chimney for cracks and earthquake damage.
• Repair loose trim, drain pipes and fencing.
• Clean stains and window screens.

Bathrooms

• Clean mirrors, glass, chrome and porcelain surfaces.
• Replace shower curtain if needed.
• Fix any faucet drips or leaks.
• Clean grout and caulking. Replace if needed.

Garage

• Remove clutter and tidy up the shelves.
• Clean the floor.

Closets

• Doors and drawers should open and close easily.
• Remove clutter, tidy up shelves and racks.
• Shoes and clothes should be neatly arranged.

Living Areas

• Paint if needed. Think about brightening interiors with neutral toned paint.
• Clean draperies and carpets.
• Replace burned out light bulbs.

Overall

• Checks basics: doors, windows, cabinets.
• Clean fireplace and remove smoke stains from wall and mantle.
• Clean your furnace and water heater.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

Top Producing Agent at Keller Williams Bay Area Estates, Los Gatos

408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com

How To Price Your Home

Pricing will determine, among other things:

1. How quickly your home sells
2. How attractive your home will be to buyers
3. How you will reach your financial goals regarding the transactions

Unless there are extenuating circumstances, such as your property’s being located in a high-risk, undesirable or unusual area, the listing price of your home will set the tone for your entire transaction.

That’s why my expertise and knowledge of your local marketplace is so helpful. I will gather statistics that quantify the prices of comparable homes in your neighborhood:

• That have sold
• That have not sold
• That are pending
• That currently are on the market

I will compare aspects of those homes against the unique features of yours. I will also analyze market conditions, the availability of mortgage funds, neighborhood reputation and characteristics, among other considerations, to create a Comparative Market Analysis (CMA). The CMA provides objective information that will enable us to make an educated, informed pricing decision designed to yield a speedy sale for the most advantageous price possible.

Philosophically speaking, put yourself in a potential buyer’s shoes when considering pricing. Buyers’ main considerations will be location, age of property, its condition and style and of course, price. Thinking objectively about these matters will help you and me determine a price based on fair market value -- what your house is worth in the current market, not the amount you or your buyers would like it to be.

Other key aspects to consider include the following:

1. How soon do I want to sell my property?

Statistics show the narrower the gap between the asking price and my estimate of value, the sooner an offer will come in.

2. How does my home compare to others in the area?

As a real estate professional, I have access to details about current listed and sold properties through the Multiple Listing Service. You will be able to see how much competition there is and what effect market conditions have had in your area. You can then determine your price by analyzing homes comparable to yours in age, size, condition and location.

3. What are buyers willing to offer?

Buyers are interested in your home’s comparable worth, not what you might need to get out of the property. The buyer’s perception of the value of your home will not be altered by the cost of your next home, your need to pay off an existing mortgage, or your hope for a dollar-for-dollar return on home improvements. Remember that sellers and Realtors© are not appraisers...buyers are. In the end, it is the buyer's evaluation that matters. Buyers make their assessments by comparing your property with others that offer similar features and are in a similar condition to yours.

4. Is there any harm in overpricing property, then dropping the price if it doesn’t sell?

Yes. To effectively price your home, you must establish a solid correlation between the asking price and the fair market value. A realistic asking price will result in a fast, lucrative sale. If your price is out of sync with the market, you’re likely to turn off a large group of potential buyers. Contrary to popular belief, a buyer usually makes an offer on a fairly priced property before making a lower offer on a listing that is seen as overpriced. Also, overpricing your home often helps sell your neighbor's home faster than yours.

5. But my house is worth so much more...

Emotion and pride should have no place in the pricing process. Sellers speak of value, amount invested and what they can afford "to take." Buyers consider only price, condition and other properties offered.

6. Should I leave room for negotiating?

Experience has shown that the closer your listing price is to the supporting comparable sales data, the greater your chances for a quick sale at or near your asking price. As a result, we recommend pricing as close to that figure as possible. If you list your home at an unreasonably high price and receive a full-priced offer, the price will be tested during the appraisal and lending process. As a result, it’s important to price your property at something statistics and the experience of the local brokers can justify. In fact, agents will miss showing your property to potentially qualified buyers simply because, at face value, your property is out of their clients' price range.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

Julie Wyss, serving all of Silicon Valley

Top Producing Real Estate Agent at Keller Williams Bay Estates, Los Gatos

Call Julie Today

www.juliewyss.com  |  julie@juliewyss.com |  408-687-2026

Seven Seller Slip-Ups That Send Buyers Packing

BY JULIE WYSS · DEADLINENEWS.COM © MARCH 20, 2013 

Sure it’s a sellers’ market, but that doesn’t mean it’s a fool proof market.

Sellers who approach the market like a cocky kid who thinks he or she knows it all will soon learn the real estate world isn’t his or her oyster.

If you want to sell your home quickly for the maximum sales price, consider these pearls of wisdom to avoid common seller mistakes.

Mistake No. 1: Pricing your property too high – Every seller wants to get the most money for his or her product. Listing with an excessively high price is a mistake.

A high listing price will simply alienate some buyers before they even see your property. Other buyers could expect more than your home really has to offer.

Over-priced properties tend to take an unusually long time and sell for a lower price than a similar home that’s priced right.

Mistake No. 2: Mistaking refinance appraisals for market value – In a refinance, lenders often estimate the value of your property at a higher level than the home is worth to encourage refinancing.

It’s a good idea to ask your real estate agent for the latest comparable market analysis, based on similar, recently sold properties in the same community.

Mistake No. 3: Forgetting to “showcase” your home – No matter how many times sellers hear this advice, no matter how simple it is to achieve, there’s widespread neglect when it comes to getting a property ready for sale.

A poorly maintained home with neglected decor and an unorganized appearance will turn away buyers and slash thousands of dollars off the selling price.

Mistake No. 4: Trying to “hard sell” while showing – Buying a house is an emotional and difficult decision.

Give prospective buyers time and space to examine your property. A home tour or open house event is not the time for pressuring prospective buyers.

Point out subtle issues, but be friendly, be hospitable, be available and be receptive to questions, but only if the potential buyer asks.

Mistake No. 5: Trying to sell to lookers – A prospective buyer who shows interest because of a “for sale” sign likely isn’t really interested in your property.

These buyers are more likely six to nine months from really taking the plunge. They are more interested in learning what’s available, rather than looking for a home to buy.

Your real estate agent can distinguish between the looky-loos and real buyersby determining a prospective buyer’s savings, credit rating, and purchasing power.

If your real estate agent can’t make this distinction, and you have to investigate on your own, consider finding a new real estate agent.

Mistake No. 6: Not knowing your rights and responsibilities – It’s crucial you are aware of all the details in your real estate contract.

Real estate contracts are legally binding documents and can be complex and confusing, but failing to sweat the details could cost you thousands of dollars in repairs and inspections.

Mistake No. 7: Signing a contract with no escape – You have a right to a contract that allows you to fire your real estate agent – and hire another – if the original agent fails to do the job as promised.

Beware of real estate companies that simply replace an agent with another one, without consulting you. Be in control of your sale before you sign a real estate contract. 

Click here for link to original article on Deadline News.

Top Producing Agent at Keller Williams Bay Estates, Los Gatos

www.juliewyss.com  |  julie@juliewyss.com |  408-687-2026

Is it a buyer’s market, seller’s market or neutral?

by Julie Wyss, Broker Associate

Originally published at DeadlineNews.com on August 1, 2012.

If you are considering buying or selling a home in Silicon Valley, you are likely trying to take the pulse of the housing market to determine if this is the right time to make a move.

Even the most savvy investor can find the timing aspect of buying or selling daunting and timing can be a stressful ordeal after watching so many friends and family members stuck with mortgages that are larger than their homes are worth.

Here’s a quick formula to help you zero on the right time to buy, sell or stay put.

The calculations can be used in any sized market, by ZIP Code, by city or by county.

Calculating market conditions

• Buyer’s Market – There is more than a six-month supply of homes for sale. The market is loose. This puts the buyer in a better negotiating position, making it a great time to buy.

• Seller’s Market – There is less than a three-month supply of homes for sale. The market is tight. This puts the seller in a better negotiating position, making it a great time to sell.

• Neutral Market – There is a three- to six-month supply of homes for sale. This puts the buyer and seller on a relatively equal negotiating footing. The seller has an edge as supplies move nearer to three-month supply. The buyer calls more of the shots when supplies tip toward the six-month supply level.

In your area, calculate the supply of homes for sale by dividing the number of homes for sale by the number of homes sold in a given month.

Additional factors also can tip the scales one way or the other, including economic distress or growth, levels of appreciation, falling or rising prices and an imbalance between buyers and sellers.

Sellers rule

• It’s a solid seller’s market. Absolutely. All-cash buyers have snatched up a large chunk of lower priced properties. Distressed properties are down. And many equity-poor homeowners are waiting, 

hoping that prices will come up more so they can squeeze another $50,000 or so out before they list.

• It’s not a buyer’s market. Record low interest rates along isn’t enough to give them an edge in terms of a stronger negotiating edge. Inventories are also near record lows so buyers face stiff competition from multiple offers as they struggle to find the right property.

• Affordability is being offset by low inventories and that’s keeping the market out of neutral territory.

Still a good time to buy

As is often the case, Silicon Valley’s market experienced a swift transition from the buyer’s market of last year to the current seller’s market. That’s because home buyers and sellers typically move in unison – on or off the market – as soon as they see the market moving in and against their favor. That makes the neutral market the most fleeting of the three.

In a seller’s market as tough as this one, even well-trained professionals are left scratching their heads trying to get an offer accepted.

Prices are rising, record-low interest rates are sending buyers to market. It’s a great time to sell compared to a year ago.

With prices still affordable, it’s also an amazing time for existing homeowners to buy up and move to a bigger and better home.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

Julie@JulieWyss.com  |  www.JulieWyss.com  |  408.687.2026

What Is Proposition 90?

Ordinarily under Proposition 13, the value of a home for property tax purposes is re-assessed to market level whenever a change in ownership takes place. This usually results in higher property taxes for the homebuyer. 

In November 1988, the state‘s voters approved Proposition 90, which is designed to induce greater turnover of homes owned by senior citizens. The measure provides anyone over the age of 55 with relief from Proposition 13 by allowing them to move from one county to another without undergoing a change in their basic property taxes.

Proposition 90 is a "local-option" law; each county has the option of participating. If a county has adopted a Proposition 90 ordinance, it accepts transfers of property tax base assessments from other California counties. If the county that the homeowner is moving from does not have a Proposition 90 ordinance, this does not affect the eligibility of the homeowner.

Qualifications for Proposition 90 are as follows:

(1) The purchaser or spouse must be 55 years of age, AND

(2) The replacement residence must be equal to or less than the value of the residence sold, AND

(3) The replacement residence must be located in the same county as the property being sold OR must be located in one of the counties which have voted to PASS Proposition 90 in order for the real property tax base to be transferred from the former residence to the replacement residence.

Before making plans to move, call the County Assessor's Office in the county you are moving to and request the most recent information concerning Proposition 90.

If you have a need for a real estate professional, please contact me. I would also appreciate your vote of confidence by passing my name to anyone you may know who would benefit from my services.

Julie Wyss, Broker Associate
Top 1% Intero Real Estate & Santa Clara County Realtors
408.687.2026 |  Julie@JulieWyss.com | www.JulieWyss.com