‘New’, Big Hollister Home For Sale

After watching the VIDEO Tour of this nice home, text, email or call me for your own, personal tour.DJI_0250

901 Verissimo Ct., is a 5 bd., 3 full bth, home with 2,775 sq. ft. of living space. There is a downstairs bedroom and full bath. The owner paid roughly $20,000 more for the kitchen upgrades which include: stainless steal appliances, separate pantry and a sizable preparation island. Someone said: “it’s not an island, it’s a continent!”.

There are 2 separate heating and air conditioning zones and USB ports in a electrical outlet in each room. The bonus room upstairs is 13′ x 18′ and the master suite is 15′ x 18′.

This house sits on a corner lot in a private court and has a wide side yard with double gates for your boat or RV. The low maintenance backyard is ready for your personal design.

This 2 yr. ‘New’ home has hardly been lived in. The seller received a job expansion shortly after the purchase and hasn’t been home much.  This house even smells new.  Why not come and see it for yourself?

Good News, Bad News In San Juan Baustista

This VIDEO Tour of 766 Avenida Del Piero in San Juan Bautista turned out really well. It is a gorgeous executive home which sits on a professionally_DSC2350-HDR landscaped , half acre and is bordered by a 510 acre Agricultural Land Trust. It offers 3 good size bedrooms and a nice office, 2.5 bathrooms and a finished, 3 car garage and 3,415 sq. ft. of living space. Travertine tile and plush carpet, 10′ & 12′ ceilings, recessed lighting and remarkable views out every window makes this home very desirable. It is an entertainer’s dream.

The good news is that it was available for you to buy.

The bad news: we received multiple offers, it sold over the asking price and sold in just a couple of days. People from many different areas were calling about the home. One gentlemen was going to drive down from Oregon (a 6 hr. drive) to buy it. He had seen the VIDEO Tour and wanted the home. However, to each all I had to offer was a different listing I am working on, in that same community, which should be on the market in a couple of weeks.

This has become my good news, bad news experience: with a nicely staged home and great marketing materials my listings sell quickly and typically for more than the owners asked. I’m becoming more comfortable with: “Sorry, it went quickly, however, I’m will have another listing in that same subdivision. Would you like me to send you it’s information?

7 Good Ideas for Remodeling

Thinking of doing some ‘freshening’ up in your home this year? Here are 7 good ideas you can do for little money.

Likewise, there are some things which were popular years ago but now are passe.  This article lists 2 of those things you want change.

The standards for most return value on improvement dollars spent, in this order are: mailbox, garage door, front door, kitchen and bathrooms. We find that money invested in these areas at least helps the home sell quicker and, often for more than you spent to spruce up the house.

Likewise, it remains, funds devoted to pools, bedrooms, and even living rooms, in that order, will yield the least profitable returns.

Pssst, I Know A Great Place, Coming Soon!

766 Avenida 003

It’s fun to know, before others, about something which is coming soon. This is just, such a surprise: it’s a drop-dead-gorgeous executive home tucked away in the foothills of San Juan Bautista.

Golf, nearby. Tennis, down the lane. Scenic trails & wildlife….. And the commute…so easy!

Watch for the VIDEO Tour of it.  I’ll be launching it about 2 weeks.

You don’t want to miss this jewel!

 

 

Kitchen Trends Add Value

The best return on your home improvement dollars is in the kitchen.  This article offers 10 suggestions for kitchen updates in 2017.

While the mailbox, garage and front door have the highest return for their costs, the kitchen is the #1 investment room inside the house. While you may not get 1:1 return you will get more of your money back in the form of a higher sales price than a home with a dated kitchen – you will get more bang for your buck than say, money spent on a bedroom.

Besides, don’t we spend a great deal of time in the kitchen? Especially when family and friends are over. Holidays, special events etc., often evolve around the kitchen.

Today’s Price vs. Bubble-Peak Price

In CA the average home ownership has been between 7 to 10 years.  So, now many home owners who, want to sell their homes, are having unnecessary hesitations. Their comments go something like this: “THAT’s all we can get for our house?! But we paid $X for it 10 years ago.  We’ll lose money if we sell at today’s price“.  So I ask: “Did you pay cash for your home?” When the home owners say: “no, we financed it” we have the following conversation.

Since you did not pay cash for your home, what you DID pay was principle, interest, taxes and insurance.  THAT’s what you have paid for your home, not the ‘Sales Price’ back then“.

Here is an example:  If they agreed to a sales price of $700,000 in 2006 and got a 90% home loan at 4.0% then what they have actually paid for their home looks like this: $198,293 principle (including the down payment) + $199,650* interest + $87,528* property taxes +$9,600 for insurance.  What they really paid was the total of $420,405 (*after income tax advantages).

So, if today’s market value is, say, $600,000 they didn’t really lose $100,000, they will actually get all of what they DID pay and another $179,595 ($600,000 – $420,405). That $179,595 is a 42.7% return on their investment!  Wow! What a different way to look at it.

Of course there were other expenses such as private mortgage insurance for a couple of  years, repairs and upgrades.  Still what they have actually paid for the home is considerably less than their original Sales Price.

Make sense?  If not, text, email or call me.  I’ll be happy to demonstrate your actual gain.

 

 

The 3 Piles When Moving

I have learned to share my “3 Piles” forecast with my sellers at the beginning of their listing. While it is inevitable, it is helpful to know where to put things when they start de-cluttering.

The dialog goes something like this: “You are going to touch everything in this home when you move. It will show much better after you have removed all of the non-essential furniture, decorations. and nick nacks. You’ll find that your things will go into one of 3 piles: Things you wonder why you ever kept; things you don’t want to keep but are still in good condition, and: the things you actually want to keep”.

Do you want to guess the size of each pile?  In reverse order: the smallest pile will be those things you plan to keep and move. The next, larger pile, will be those things you are not going to take with you but are in good condition.  This is the “donating” pile.  Lastly, the 3rd and largest pile will be the stuff you toss.

So have a garage sale or two to see if you can reduce the size of your ‘toss’ and ‘donating’ piles.  You will have less to take to Goodwill or the dump and your home will be more appealing to your prospective buyers.

Solar Panels vs. Resale of The Home

Here are 5 questions you want to explore BEFORE you decide to have solar panels put on your roof:

1.  How much will you save in your monthly electric bill over, say 5 years by installing solar?  Consider this total vs. the typical 20 yr loan offered for purchase of a system.

2.  Will the remaining balance on your solar purchase/lease be transferable when you go to sell your home?

3.  IF it is, will it be a ‘seller’s market’ (more buyers than homes for sale)? Or, will it be a ‘buyer’s market’ (plenty of homes to choose from vs. the fewer number of buyers)?

4.  Considering the speed of technological advancements, when you go to sell your home in the future, will your solar system be antiquated?

5.  Who is responsible for the integrity of the roof where the solar panels are installed?  For how long?

This year I have had to inform more than one home owner that their solar system loan/lease balance will have to be paid for by them.  Buyers seem to consider the value of a solar system equal to about 2 years worth of electric bill savings.  In my last 2 listings with solar panels, the sellers had to pay their remaining solar loan balance of $18,000 and $22,000 respectfully.

Do you know of a happier solar-seller situation?  Please share it.

 

Morgan Hill, CA Home Values

Morgan Hill Ave. SPAs you can see here, the average sales price of single family residences in Morgan Hill CA continued to rise over the last 12 months.

This month’s average sales price (approximately $960,000) is roughly 26% higher than 11/14’s average price of $760,000.

You will also notice that the average price spiked in 9/15 at roughly $1,010,000.

Now is a great time to buy a home in Morgan Hill: the ratio of prospective buyers-to-available homes is a little more balanced; the interest rates are still South of 4.0%; and, the short commute into San Jose is very manageable.

It is also a great time to sell your home: it worth more now than in the last 10 years.

For both prospective buyers and hopeful sellers, a sale NOW will get you settled in before Christmas and for the start of the mid school year.

 

Gilroy, CA Home Prices

Gilroy, CA single family home prices have followed a fairly typical pattern over the last 12 months although the Gilroy Sales Price 2average sale price for 10/15 is virtually the same as 12 months ago.

I reviewed 548 Gilroy sales of single family residences from 11/14 to 10/15.  We saw a fairly flat market from Nov. last year to Feb. this year.  Then, in March the prices began to rise and spiked in July.  Since July the average sales prices drifted back to the same level as this time last year.

It is important to note that in 2014 Gilroy home values increased roughly 21% from Jan. through Dec.  And, Jan. this year saw average prices roughly 11% higher than 12 months earlier.

So, what does all of this mean?  Well, if you are a buyer and like to play the odds, your best buys will typically be between now and next Feb. or Mar.  If you are a home owner who is thinking of selling you may want to be ready to go on the market in March or April.

Lastly, you may find that next year, being a National Election year where a sitting majority will want to maintain their plurality, will be anyone’s guess as to what home prices are going to do in Gilroy.  Actually, I have a prediction based on the 9 other national election years I have seen while in the housing business.  Text, email or call me for that information.

Thanks to MLSListings for the data.