Excerpted from the San Jose Mercury News Column “Market Wise” 7/18/08
Q: We are having a frustrating time buying a certain house. Our agent says this is the sloppiest sale he’s had in his 20-plus-year career. Evidently, the listing agency is really a loan brokerage, but one would never know it from the wording on the for-sale sign in the lawn. Why would a loan officer be selling a house?
A: Good question. Prior to the Internet, we’d experience an occasional real estate agent geographically trespassing. However, once home listings started being posted on the Web, some licensed loan officers and property managers became industry interlopers, asking, Why should I refer good clients to a real estate agent? In practice, if a loan officer has to ask that question, he/she should not leaver his/her air-conditioned office.
Commercial real estate agents and real estate attorneys know the incredible amount of responsibility and liability they incur when representing homebuyers and sellers. These astute industry professionals routinely refer clients to residential sales agents and even (rarely) will represent themselves as homebuyers/home sellers.
Not so with many licensed property managers and loan officers. Unfortunately, the best interest of the client and the firms they represent take a back seat to the licensee’s short-sighted greed.
Many times it’s the broker who puts his own firm in harms way. But professionals not trainted in the care and practice of a trade and/or don’t know the issues around which the craft will be plied should not gamble with a consumer’s home.
Far too often I see seller’s and buyers who engage such individuals. The result is sellers who lose thousands of dollars and buyers who lose the right house.
by Pat Kapowich SiliconValleyBroker.com, owns Kapowich
Real Estate in Sunnyvale. E-mail questions to him at
pat@siliconvalleybroker.com
Tags: Another Q&A in S.J.Merc News ~ Pat Contributes
Sunnyvale Real Estate Sales ~ Single-Family Homes
The June/2008 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 63 sales receiving 99.71% of list price. These
closings represented a median price of $898,000 and an average price
of $918,552. There were 89 new listings reported to the MLS for the month of June/2008.
Total Sales: $57,868,834
The May/2008 Completed Sales Report for Sunnyvale Single-Family
Homes saw a closing of 68 sales receiving 99.31% of list price. These
closings represented a median price of $930,000 and an average price
of $926,252. There were 108 new listings reported to the MLS for the month of May/2008.
Total Sales: $62,985,138
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
June/2008~ Sunnyvale Condos/Townhouses had 18 closed sales receiving 98.87% of list price. These closings represented a median price of $592,500 and an average price of $576,333. There were 49 new listings reported to the MLS for the month of June/2008.
Total Sales: $10,374,000
May/2008~ Sunnyvale Condos/Townhouses had 22 closed sales receiving 97.52% of list price. These closings represented a median price of $522,500 and an average price of $538,931. There were 48 new listings reported to the MLS for the month of May/2008.
Total Sales: $11,856,497
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
June/2008~ Single-family homes in Sunnyvale had an average of 24 days on
market (DOM) and 35 cumulative days on market (CDOM).
Condos/Townhouses had an average of 16 DOM and 29 CDOM.
May/2008~ Single-family homes in Sunnyvale had an average of 29 days on
market (DOM) and 36 cumulative days on market (CDOM).
Condos/Townhouses had an average of 35 DOM and 60 CDOM.
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.
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
Tags: Zone 19~Sunnyvale
Las Palmas Park is hidden in the lovely Old Orchard neighborhood.
It is the largest park of its kind in Sunnyvale with 18.5 acres
of Sunnyvale real estate at its “highest and best use.”
Las Palmas park has four picnic sites, two softball diamonds,
reservable multi-use building, restrooms and a children’s play
areas and a beautiful pond.
There are plenty of tall tress provide lots of shade making
Las Palmas park the perfect location for events of all kinds.
It is also adjacent to the popular Sunnyvale tennis courts.
Click here for Las Palmas rental information for the multi-use
field, picnic areas, spray pool, park building and jump houses.
Picnic Sites:
Area 1 accommodates 40 people
Cost:$40.00 Resident
$80.00 Company
Area 2 accommodates 50 people
Cost:$50.00
$100.00 Company
Area 3 accommodates 60 people
Cost:$60.00
$120.00 Company
Area 4 accommodates 40 people
Cost:$40.00
$80.00 Company
Building Rental Rates:
Resident:
$120 for two hour minimum and $60 for each additional hour
Non-Resident:
$165 for 2 hour minimum and $90 for each additional hour
6 Tables* / 100 Chairs
*Table Dimensions: 10’ x 2.5’; seats 8-10 per table.
Facilities Department
Phone: (408) 730-7751
View Larger Map
Tags: Zone 19~Sunnyvale
Excerpted from the San Jose Mercury News Column “Market Wise” 7/18/08
Q: We are selling our house and the buyer’s home inspector is recommending further inspection of the sub-area by an appropriate professional. We don’t feel this is warranted, as our pre-sale inspection noted basically the same observations and comments. Should we grant an extension to the buyer for the inspection of the foundation of a 48-year-old house in the suburbs? It’s an as-is sale.
A: Location, location, location? Consumers especially sellers, should follow this rule: Disclose. Inspect. Disclose. Buyers file the majority of lawsuits, many of which are often referred to as Bad House Cases. What sellers feel e.g., basically the same observation is moot. Until buyers are completely satisfied inspecting a home (often to the dismay of the agents involved), a seller should not sell them their house.
Foundations are the most neglected area of residential sales. Sub-areas should be inspected and maintained every seven years. This is news to the real estate community and consumers alike. But consider: downspouts and sprinklers annually dump gallons of water against the house. Insist on a foundation inspection report, plus an estimated cost of renovations that shall be delivered to all parties. Only then let the buyer proceed with the sale, or, conversely, let the buyer cancel the transaction. Either way, you’ll greatly reduce the likelihood of interviewing real estate attorneys
by Pat Kapowich SiliconValleyBroker.com, owns Kapowich
Real Estate in Sunnyvale. E-mail questions to him at
pat@siliconvalleybroker.com
Tags: Another Q&A in S.J.Merc News ~ Pat Contributes · Seller HQ ~ Buyer Beware? What About Seller Beware?
by Ryan Kapowich
Located on Historic Murphy Avenue, The Bean Scene Cafe offers a variety
of fine drinks, pastries and wonderful meals. Ably managed by a husband
and wife team, Kenny Lam and Linda Tang, The Bean Scene Cafe has
become a regular part of the downtown Sunnyvale experience.
Whether, you’re meeting friends, family or business associates, The Bean
Scene Cafe provides the perfect coffee house atmosphere. With
comfortable seating as well as WiFi, the friendly staff is ready to
serve you seven days a week!
CONTACT US
The Bean Scene Cafe
186 South Murphy Avenue
Sunnyvale, CA 94086
Email:
sunnyvale@beanscenecafe.com
Telephone: 408.738.4523
We are here to serve you…
Mon: 6:30am - 9pm
Tue, Wed & Thur: 6:30am - 8pm
Fri: 6:30am - 9pm
Sat: 7am - 10pm
Sun: 8pm - 5pm
Pat Kapowich, “Negotiating Smooth Transactions Throughout The South
Bay” SiliconValleyBroker.com
Tags: Zone 19~Sunnyvale
The June 2008 Silicon Valley Real Estate Sales Report for Cambrian Single-Family Homes saw a closing of 45 sales receiving 98.39% of list price. These closings represented a median price of $670,000 and an average price of $682,464. There were 82 new listings reported to the MLS during June.
Total Sales: $30,710,900
to
The May 2008 Silicon Valley Real Estate Sales Report for Cambrian Single-Family Homes saw a closing of 55 sales receiving 98.55% of list price. These closings represented a median price of $670,000 and an average price of $712,044. There were 102 new listings reported to the MLS during May.
Total Sales: $39,162,440
June 2008~Cambrian Condos/Townhouses had 5 closed sales receiving 98.81% of list price. These closings represented a median price of $384,000 and an average price of $494,700. There were 14 new listings reported to the MLS during June.
Total Sales: $2,473,500
to
May 2008~Cambrian Condos/Townhouses had 4 closed sales receiving 96.58% of list price. These closings represented a median price of $390,000 and an average price of $392,250. There were 22 new listings reported to the MLS during May.
Total Sales: $1,569,000
View Larger Map
June 2008~Single-Family Homes in Cambrian had an average of 35 days on
market (DOM) and 59 cumulative days on market (CDOM). Condos/Townhouses had an average of 41 DOM and 87 CDOM.
to
May 2008~Single-Family Homes in Cambrian had an average of 24 days on
market (DOM) and 48 cumulative days on market (CDOM). Condos/Townhouses had an average of 55 DOM and 75 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
Tags: Zone 14~Cambrian · Pat's Stats ~ Silicon Valley Real Estate
Tags: Dealing with Industry Bushwackers and/or Empty Suits · Bank Controlled: Short Sales & Foreclosures · Real Estate 101 · Buying & Selling Simultaneously (Moving Up or Down) · Real Estate Attorneys
Excerpted from the San Jose Mercury News, SJMN
Market Wise Column
Saturday, May 10, 2008
Q: We want to sell and move but our neighbor’s house and yard
is a complete mess. What do we do, short of contacting the city?
How will this impact the sale of our home?
A: You or your licensee should politely approach the family and
discuss ways to improve their property without being offensive.
Could you and their neighbors pitch in with labor and expenses?
After all, their homes are adversely affected, to the tune of
thousands of dollars, by residential blight. If that fails, small claims
court and city governments move too slowly and often without power.
You should consult a real estate attorney to discuss your options.
Sometimes, one well-crafted letter from an attorney will get sought-
after results. Otherwise, if their Christmas lights are not down before
the first open house, the best buyers won’t get out of their cars.
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
Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com
Tags: Another Q&A in S.J.Merc News ~ Pat Contributes · Seller HQ ~ Buyer Beware? What About Seller Beware?
Special circumstances might apply to many transactions, however, that
does not mean that additional terms and conditions should always be included.
Many licensees will recommend a special mechanism to a sale/transaction
without thoroughly counseling their respective client on the pros and cons
of this particular term.
KAPOWICH REAL ESTATE - Sunnyvale, CA 94086 - SiliconValleyBroker.com Video
Many times, another solution, which might be less problematic could be
negotiated in lieu of adding terms and conditions to a contract/sale.
The fewer additions to a preprinted contract, the better.
Real Estate Attorney Sam Chuck, of Rossi, Hamerslough, Rossi & Chuck,
explains in layman’s terms, how and why a client or licensee should be
aware of the down side of special circumstances.
Pat Kapowich,
“Negotiating Smooth Transactions Throughout The South Bay”
SiliconValleyBroker.com
Tags: Real Estate 101 · Buying & Selling Simultaneously (Moving Up or Down) · Real Estate Attorneys · Buyer HQ ~ If Not Now, When? · Seller HQ ~ Buyer Beware? What About Seller Beware?
The June 2008 Completed Sales Report for Willow Glen Single-Family
Homes saw a closing of 46 sales receiving 97.14% of list price. These
closings represented a median price of $800,000 and an average price
of $878,294. There were 102 new listings reported reported for June.
Total Sales: $40,401,530
to
The May 2008 Completed Sales Report for Willow Glen Single-Family
Homes saw a closing of 35 sales receiving 98.44% of list price. These
closings represented a median price of $765,000 and an average price
of $834,060. There were 86 new listings reported reported for May.
Total Sales: $29,192,100
June 2008~Willow Glen Condos/Townhouses had 6 closed sales receiving
97.36% of list price. These closings represented a median price of $531,000
and an average price of $529,874. There were 14 new listings reported for June.
Total Sales: $3,179,248
to
May 2008~Willow Glen Condos/Townhouses had 4 closed sales receiving
98.65% of list price. These closings represented a median price of $425,400
and an average price of $465,950. There were 13 new listings reported for May.
Total Sales: $1,863,800
June 2008~Single-Family Homes in Willow Glen had an average of 49 days on
market (DOM) and 63 cumulative days on market (CDOM).
Condos/Townhouses had an average of 61 DOM and 67 CDOM.
to
May 2008~Single-Family Homes in Willow Glen had an average of 29 days on
market (DOM) and 50 cumulative days on market (CDOM).
Condos/Townhouses had an average of 61 DOM and 66 CDOM.
View Larger Map
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
Tags: Zone 10~Willow Glen · Pat's Stats ~ Silicon Valley Real Estate
