Providing Value to Buyers

You might think buyer agents only show homes and write offers, and some of them do. But if you want the best value for your investment, we’re here to provide you with maximum return!

CHIC (Pearl)

We always meet for a buyer consultation before getting started so we can align on the best strategy and communications plan for the entire process. Getting to know you helps us better understand what you want and cater our services to fit your needs. Our goal is to offer objective advice and help you evaluate the pros and cons of different properties without being so prescriptive with our recommendations that we forget why you’re in the market in the first place.

GEEK (Kevin)

Value is all in the numbers. First and foremost, we won’t make any moves without settling on your budget. We’ll collect market data in real time from colleagues on the front lines at the neighborhood level and advise you on potential offer strategies that reflect current conditions. We’ll work with experts to give you a proper report card for the property to aid in our negotiation. And we’ll review every timeline and document to make sure it all adds up.

Hello, Fall.

The cool, crisp autumn wind has arrived, the leaves are turning, and everything from chai lattes to pork rinds seems to have a pumpkin spice variation. What do you look forward to about Fall?

CHIC (Pearl)

There’s a day every September when the Bay Area dress code shifts from summer dresses to cozy sweaters, and we got there a little earlier than expected this year. But you won’t find me complaining. I love waking up to morning frost and a warm cup of coffee while I snuggle in a blanket and catch up on email. It definitely beats waking up in a cold sweat when it’s 72°F before sunrise.

GEEK (Kevin)

For DIY home improvement types – like yours truly – this is prime time for cleaning, inspections, repairs, and other annual upkeep that you’ve been putting off all Summer while you played golf and sat by the pool working on your non-existent tan. It’s especially important to check your heating system now before things get really chilly, when repairs cost more and take longer.

Cracks in the Foundation

No matter the size, a crack in the concrete foundation holding up your home is a big deal, and like any household pest, a crack doesn’t come alone. It always has buddies. How can you spot them, and what can you do about them?

CHIC (Pearl)

If you find vertical cracks, it could mean your home is still settling, but that doesn’t mean you should let it lie. It’s best to hire an inspector to get to the bottom of the issue. Horizontal cracks are a bigger problem and could mean compromised integrity caused by poor construction, excessive moisture, or other stress. Once you spot these cracks, you could already be well on your way to a major repair job.

GEEK (Kevin)

It’s always smarter — and cheaper — to fix the problem as soon as you find it rather than wait around for it to miraculously fix itself. Getting on top of a small crack now could save you from deeper structural issues and a whole lot of headaches later. But your foundation is a project you shouldn’t necessarily take on yourself. If you need a referral to a good contractor, send us an email!

The True Costs of Moving

Selling your first home and purchasing your next one can seem like an insurmountable process when you’re in the thick of it. That’s why it’s important to plan ahead before the madness begins. The first step is understanding the costs beyond the listing price.

CHIC (Pearl)

Before you commit to listing your current home, it’s a good idea to ask your agent for an estimate of all the closing costs involved. A roll call of the usual suspects includes real estate commissions, advertising, legal and professional fees, excise taxes, capital gains taxes, prorated property taxes and HOA fees, and typically surveys, inspections, etc. You’ll need to put a number to all of these items to get a full picture of your options for buying a new home, which comes with its own set of peripheral expenses.

GEEK (Kevin)

So what are some of the costs you need to consider as a buyer? To name just a few: down payment, lending fees, title fees, insurance, inspections (if the seller isn’t paying), professional cleaning, repairs and cosmetic upgrades, utility deposits, and more. We also suggest getting pre-approved for a new home loan before you do anything else, and while you’re at it, make sure to include the costs for any renovations you may want to make. Oh, and did we mention moving expenses? It adds up quick!

Chic vs. Geek: What causes low inventory?

This week, we explain the variety of factors at play in a hot and competitive housing market.

CHIC (PEARL)

Low Interest Rates

Low interest rates are great for homebuyers, but they also make it easier for homeowners to keep their current homes and buy another, rather than selling. Over the last decade, an estimated 7 million properties have been taken off the market by homeowners and businesses investing in rentals. This is evident in the success of rental companies like Airbnb and VRBO.

Aging in Place

More and more Baby Boomers who bought low decades ago are choosing to stay in their homes and “age in place” – especially in the uncertain age of COVID. With prices soaring across California and the nation, where would they move?

Coming of Age

Meanwhile, the largest generation in history, Millennials, is about to hit the median age of a first-time homebuyer. That means an even greater strain on an already limited inventory and a fiercely competitive market into the foreseeable future.

GEEK (KEVIN)

We’re Not Building Enough

Ever since the housing bubble burst 12 years ago, homebuilders have slowed their pace and become more risk averse. According to Census data, an average of 1.5 million homes have been built each year in America since 1959. However, over the past decade, the pace has slowed to just 900,000 homes a year. Limited production, coupled with enticingly low interest rates and a generation of first-time homebuyers all combine to exacerbate the crisis.

Housing Policy

The CARES Act foreclosure moratorium has kept financially distressed homeowners from selling, but foreclosures were already at record lows before the pandemic. In fact, according to a recent report from CoreLogic, U.S. homeowners have seen their equity increase by $1 trillion since the third quarter of 2019, an increase of 10.8% year over year. So, even with 2.5 million homeowners in the mortgage forbearance program, we shouldn’t expect a wave of foreclosures when the moratorium is lifted.