Seeing Green: Some Kitchens Ditch White for Mother Nature’s Neutral
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| Spanish Bungalow |
September is here, vacations are over, children are back in school…what now? Well, in the world of residential real estate, we begin one of the busiest time of the year, second only to Spring. Between now and mid-November, buyers and sellers are on the move and motivated to get in to contract and close before the holiday season.
For Sellers, it isn’t too late to get your home ready to sell, though you may want to consider your options. If you need to do repairs and cosmetic updates in order to get your highest and best price, the time is right to now call out the experts. Have a home inspection, pest inspection and roof inspection right away. Determine what items need to be completed before you go on the market. This can take as little as two weeks and in the meantime, you and your Realtor can make plans for painting, cleaning, landscaping and staging. Come up with a strategy for the timing of your listing and pricing, depending on the current market in your neighborhood. This is where you and your agent should study recent sales and be sure to not over price your property as that can put off many potential buyers and leave your house floundering. Get your house on the local broker tours and the multiple listing service. If all that sounds a bit too much for right now, consider taking your time and do everything you can to make your home ready to shine for sale in Spring instead.
For Buyers, make sure you have all your ducks in a row and get that pre-approval from your mortgage broker. You want to be comfortable with your estimated monthly payments, so you may want to look at a few different scenarios and loan packages. Your lender can help you with all of that. Give your agent as much information about what you need in a home such as school districts, size, condition, proximity to work, transit hubs, etc. Are there specific needs or wants for your particular lifestyle? Do you need a large kitchen so you may cook together? Do you like to garden? Do you have pets that require a yard? Would you like a community with amenities, such as a pool,a gym or a park? Is a single family home what you need for a growing family? When your Realtor understands your needs, he or she can save you precious time by previewing and screening the available properties so that you can look at only the ones that could be a good fit. My advice is to not look at more than 5 or 6 homes in one day. More than that and your head will be spinning! Feel free to take notes and ask questions while you are there. Even if you don’t see the right one on the first day, you can sit back and compare your notes and impressions at the end of the day and determine what you did or did not like about each property. Then, pass that information along to your agent who can take it into consideration for the next homes to tour. Be sure to keep an open mind because chances are you will not get everything on your wish list! Once you decide to make an offer, I suggest writing a short introduction letter with a photo to let the seller know who is buying their home. This may be business, but there is often an emotional aspect as well. Depending on the competition, yours may not be the strongest offer they receive, but be patient, it often takes more than one try. I always believe that the right property is out there!
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| Industrial Loft |
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| Tract Homes with Few Options |
In eclectic neighborhoods, such as Willow Glen, Rose Garden, Naglee Park, etc., the houses are unique in style, age, updates and condition. You may find a small house with high end finishes and charming style right next door to a much larger home with older elements and an odd layout with the smaller home commanding a much higher price. In such a case, the square footage is not the determining factor. We have all heard about “Location, location, location!”. Still, so true! I recently had an agent from the Peninsula, who obviously was not familiar with Willow Glen, ask my why a smaller Spanish style bungalow, just blocks from downtown, was priced the same as a larger, newer cluster home located just 3 miles away. This is like comparing apples and oranges. Here is an example of 3 homes located within 1 mile of each other. Mid-century ranch on a large lot, small Spanish style bungalow on an average lot and a cottage on a small lot. Price per square foot means almost nothing in these cases.
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| Mid-Century Ranch |
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| Spanish Style Bungalow |
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| Small Bungalow on a Small Lot |
Another fact is that smaller homes typically command a higher price per sq. ft. than larger homes.
Is the seven figure home the new entry level for buyers? Latest reports show that 57% of homes in San Francisco and Silicon Valley are $1M and over. Land is so expensive that new homes are more in the mid to high level rather than starters. Truthfully, we have been seeing those prices rising like crazy, but are beginning to see a more balanced market. Perhaps not price wise, but with inventory higher and buyers being more selective, even the most desirable and well-priced homes may sit for a few weeks rather than being swallowed up within days with multiple offers. I see this as a much healthier market overall.
This little home in Willow Glen is a great example. 3 bedrooms 1 1/2 baths with much of the original charm and move in ready. Perfect for first time buyers or downsizers because of the location walking distance to library, shops, restaurants, parks, etc. And, all on one level. Nice yard with outdoor kitchen for entertaining, extra storage and work space and two car garage. Offered at $895,000, it is still possible to find these gems, but they are few and far between.
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