There are lots of new home developments and subdivisions going up throughout the Tri-Valley area. While a lot of these have general layouts and set designs, homebuyers can really customize the building experience to create the home that is unique to them, lifestyle and practicality. Designing and building a custom home you certainly don’t want to make any mistakes however, mistakes are given but if you can learn ahead of time with some of the more common mistakes are, you have a better chance of avoiding them. Here are some pretty common mistakes that homebuyers can make when building a custom home. Don’t Make These Mistakes When Building a Custom Home [Read more…]
For those that live in California’s Tri-Valley area, you know the prices are pretty high compared to the rest of the country but can you still get a deal? It may all come down to finding tricks of the trade, unique buying strategies and investing a little bit of time and research in order to find the right property a great deal. Here are some unique ways in order to get a great deal on your next Tri-Valley home.
#1. Pay cash.
Now, I understand that not everybody can but if you can, it really is one of the best ways to get a better deal. Sellers see cash is a great opportunity to get the home sold quickly and close fast. If this is something that you can manage you’ll usually have a shorter escrow. And save money on lots of closing costs and of course paying cash to save you hundreds of thousands in interest.
#2. Purchase a home in a developing neighborhood.
This is where a lot of research really comes into play. You want to have a great buyers agent that understands exactly what you’re trying to accomplish and then researches neighborhoods, the type of home you’re looking for and great deals in order to make a move on the right property. The best way to do your research is to pay attention to news broadcasts, business journals and local city websites about new construction and changes happening in a particular neighborhood. If it looks like a neighborhood is transitioning from lower-income into renovated homes or perhaps they are tearing down an old abandoned strip mall in order to develop a Starbucks and more modern conveniences, this might be the perfect time to buy a home in the neighborhood. You’re likely to get a great deal especially if you combine a lot of these tactics when purchasing the home.
#3. Consider a fixer-upper.
This is definitely something to strongly consider and research before you pull the trigger. You don’t want to buy a home that requires you to put more money into it and you’re going to get out of it. By coupling this with buying a home in a developing neighborhood you can also gain quite a bit of equity on the backend. You could save a lot of money by doing most of the remodeling yourself but you’ll want to have a home inspection and understand how much money you’ll be putting into the fix-up before closing.
#4. Buy at an auction.
Even though foreclosures are down across the country some homes are still going through the process. It’s these homes that typically end up at an auction and bidders can likely get a bargain. However, you’ll probably be in competition with investors and those that by home specifically to flip and many times they require and all-cash payment. But, if you can do it, you’re likely to get a great deal. Keep in mind that these homes are usually in poor condition so be sure to check them out before bidding and if you buy in a developing neighborhood, that’s all the better.
If you’re looking for the best deal throughout the Tri-Valley area and you need an agent on your side to help facilitate the transaction and do the research for you contact my office today. I’d be happy to set up a meeting with you about what you are looking for and start the research process to get you the right property for your needs.
If you plan to sell your luxury home or high-end property there are some keys to marketing this type of real estate. While it is much the same as any other traditional sale, there are some nuances that makes luxury home selling and buying slightly different. Here are five keys to marketing and selling your luxury home in California’s Bay area.
#1. Try not to use “undisclosed location”.
Many luxury homeowners prefer not to have their address mentioned in an MLS listing or marketed online, but if you want the most eyes on your property, having the location shown or the general area or community mentioned gives people an idea of where the home is, it’s relation to other communities, and it’s close proximity to homes, schools or modern conveniences. Not all luxury homeowners have the “celebrity status” that really require an undisclosed address on MLS listings.
]Related Post: 10 Pre-Inspection Checks for all Homeowners]
#2. Don’t skimp on quality photos.
Your luxury real estate agent should hire a professional photographer to take excellent photos of the property at different times of the day and in a different light. You certainly want quality over quantity and because over 90% of homebuyers begin their search online, those photographs of your home must be worth 1 million words, not just the thousand. It truly pays to pay for good photos of your listing.
#3. Emphasize unique features.
If the home is in a country club that offers unique amenities and features make sure that you mention these in the listing. Do homeowners have access to a variety of perks for living in the community? Make sure that all buyers understand what type of status, location and amenities they receive when purchasing this home. Does the home itself have unique features such as a wine cellar, theater room, master suite or library? Emphasize the uniqueness of the home and why someone would want to pay top dollar for this property.
#4. Additional marketing.
As with any traditional sale, good marketing is key but with luxury home listings additional marketing is vital. Not only should your real estate agent provide print advertising and direct mailing but Internet, search engine optimization, social media and exposure of the photographs are crucial to getting a wide range of homebuyers interested in the property. A good real estate agent will also market to potential luxury buyers agents so that the right luxury homebuyer is matched with the property.
#5. Pricing it correctly.
Pricing a luxury home is a little bit different if there’s not a lot of comparable properties nearby. Paying for an appraisal ahead of time might be key to pricing it correctly and getting the right market value. Knowing every amenity a luxury home provides is crucial when determining the price and comparing it to other luxury homes. This takes the knowledge and experience of a qualified and dedicated luxury real estate broker.
For more information on selling your luxury home in San Fransico or the Tri-Valley areas, please contact me at any time. We can run over some numbers, offer suggestions on marketing and listing your home and determine the best approach for selling your luxury home.
You’ve put in your time in a small townhouse, smaller home or condo and built up some equity but now you’d like to make that dream home a reality! How can you go about financing the home so you get what you want and still stay on budget?
For starters, you want to set realistic goals about the house you’re looking for. These are basic and broad goals such as do you want to live in a certain school district? Do you need a certain amount of square footage? How many bedrooms and bathrooms do you need? What type of neighborhood do you want to live in? These are large, broad requirements for your dream home. From there, you can narrow things down to certain details that you really love such as, large kitchen, updated bathrooms? Large backyard, mature landscaping, fenced yard, and any other little details you may want in a particular property.
Keep your broad, large items at the top of your focus and then narrow the homes down to items you love within those particular homes. From there, you can determine what you really want, what you can really afford, and if you’re ready to make the move to a dream home.
When it comes to financing a large purchase you may need a jumbo loan. Depending on how much equity you’ve built in your current home will determine how much down payment you can make on your next home. If you’re currently renting, you’ll need to come up with a certain amount of down payment. Speak to your lender about the exact figures you’ll need in order to qualify for your dream home.
[Read more: Essential skills all home buyers should have in 2016]
Other items you’ll need when it comes to financing a large loan is secure information. Your credit report will be one of the most important pieces of information that will get you either the home you want or rejected. You can request your own credit history for one of the three major credit bureaus in the United States: Equifax, Experian, and Trans Union. Typically getting one report should have every piece of information you need to verify your credit history, score and to correct any mistakes or errors.
Determine whether you want to buy your dream home or build a home.
In the Tri-Valley area, there are many new subdivisions and communities popping up all over the place in places like Livermore, Pleasanton, and Oakland. Are you considering buying an existing home, putting the final touches on a custom built home or building a home from the ground up on your own land? Financing changes for each one of these situations so you’ll need to talk to your lender about your plans and your real estate agent about what you’re looking for to find you the right home in the right lending program for your needs.
Determine your financial limit.
What you might think is your financial limit, lenders may disagree. Lenders will take into account all of your assets, liabilities, debts and income to determine a comfortable amount that can go towards financing each month. Typically no more than 30% to 35% of your income should go towards your housing payment each month. There are different programs and plans that may allow for more but remember, putting too much strain on your finances means that you won’t have any money for those emergency issues that may arise as a homeowner.
[More: 8 Money Tips for Home Buyers]
Perhaps you’re in a similar boat to a lot of people; you already own a home but if the right dream home comes along you would consider selling and moving. To prepare yourself for the situation it’s important to have some reserve funds set aside for the down payment, earnest money deposit, and home inspection. You’ll be ready if the right home becomes available and you already have done your financial homework necessary to afford the home.
Start first by talking to a real estate agent about your needs. I can set you up with an alert system that sends you an email when a home that meets your search criteria and price becomes available. Secondly, speak to a lender about your credit history and your chance of getting a loan for the type of home you want. They can set you up to be in a good position, ready to make an offer, complete with a preapproval letter that can be updated monthly if necessary.
The following are the five top under bids for the Tri-Valley area of California including San Ramon, Livermore, Pleasanton and surrounding communities. These are homes sold below list price and it usually includes several higher-priced homes or excessive, luxury properties but surprisingly, there are several homes under $700,000. Here’s the list of the top under bids for the Tri-Valley area as of February, 2016.
#5.) 5071 Blackbird Way in Pleasanton (Birdland)
List price $1,169,888
Sold price $1,074,000
Days on the market 47
Underbid 8.20% conventional loan.
#4.) 2281 Ashbourne Dr., San Ramon (Noris Canyon Estates)
List price $2,150,000
Sold price $1,945,125
Days on the market 35
Underbid 9.53% in a conventional loan
#3.) 3125 Pawnee Way, Pleasanton (Las Positas Gardens)
List price $672,500
Sold price $600,000
Days on the market 31
Underbid 10.78% conventional loan
#2.) 200 Railroad Ave., #207, Danville
List price $1,198,000
Sold price $1,001,000
Days on the market 0
Underbid 16.44% cash offer
#1.) 21810 Mines Rd., Livermore
List price $375,888
Sold price $220,000
Days on the market 220
Underbid 41.47% conventional loan
These are all the homes that of sold under their list price. For more information on homes and real estate in the Tri-Valley area including parts of Danville, Dublin, Livermore and San Ramon contact my office today.
These are all of the homes and properties that were underbid and sold below list price in January 2016 for the Tri-Valley area including parts of Danville, Alamo, Blackhawk and all Tri-Valley areas. [Read more…]
December, 2015 turned out to be a very exciting real estate time and while they were many overbids on properties throughout the Tri-Valley area there were also several under bids. Here are the top five Tri-Valley under bids for December, 2015. [Read more…]
This market is seeing a lot of over-bidding; meaning the buyers are bidding far over the asking price. Both Pleasanton and Danville has two homes each in the top 5. The holiday season didn’t seem to slow anyone down and all these homes were on the market no longer than 9 days! Here are the top 5 overbid homes in the Tri-Valley area for December 2015. [Read more…]