From my recent experience, I'm seeing a wide range of reasons people are selling. A lot of downsizing and upsizing to take advantage of the market, some moving after kids are in high school, since there isn't a public high school in Hillsborough, a few corporate transfers (to Texas recently), but often times people still staying within the Peninsula because of the special dynamics we have such as community, weather, and proximity to SF and Silicon Valley.
Technically - Yes. But if you counter higher than the asking price, you may have problems. If you are going to list your home, rather than just going below market price think about your buyers and what other homes they have to choose from in that general price range. Sometimes a higher listing price can generate more of a response. Let me give you an example:
A home appraises for $215,000. The range of value is between $204,000 - $226,000.
Let's say this home spans two buyer groups. One is between $175,000 - $220,000 and the other between $220,000 - $260,000.
Logically this home would fall in the upper tier of the first group. But what happens if there are 35 homes in that category? You are now competing against these listing as well.
However, in the second category there are only 20 homes listed within the second category. By raising your list price to, lets say, $223,000, you now have (1) less homes to compete against, (2) buyers that are smartly buying at the low end of their approval budget, (3) room to negotiate a "low ball offer" and (4) the chance that you will get a higher purchase price.
Sounds much better then hoping to get multiple offers on a $205,000 listing but ending up with one list price offer.... more
I'd say on average you could use $400/ft as a benchmark for minimum Hillsborough quality work including demo, plans, permits with it going up for finer details and a custom owner user quality or down a little for spec resale quality?... more
2% cash rebates for home buyers and 2% commission discounts for home sellers with the Baron!Hello readers and welcome to the 2nd official installment of Baron & Chestney's Blah Blah Blog. Today's
Visit a neighborhood several times and at different times of day to get a sense of belonging. Check out area statistics; real estate professionals are prohibited from “steering”—enticing a buyer to purchase, or not, in specific neighborhoods; so, you should check out demographics on your own to assure your comfort level can be reached.... more
You need to check with the local city code enforcement department.
Single Family Home usually means just that (ONE FAMILY)
Some cities have laws that prohibit "CROWDING" a term used to describe multiple families living in a SF home.
Best of luck to you,
Kawain Payne, Realtor... more
Why are some homes selling in Hillsborough and other seemingly good deals not? A few times a week I get asked the same question about what's wrong with this house or that and why aren't they selling and
2010 is finally here. We can all put the past year behind us, and for many of us, we want that. We look at this coming year as a great opportunity. More than ever before it offers options; the hope of
Both communities suffer from airport noise during certain times of the year and under certain weather conditions. We live near SFO and when it's foggy at night, the sound from the planes taking off bounces off the low cloud ceiling and is heard everywhere around the airport, north and south. When there are major storms in the winter, and winds are blowing certain ways, the planes must take off towards Millbrae and Burlingame and make sharp turns over this highly populated area. This doesn't occur very often, though. As for San Mateo and Hillsborough, no air traffic from SFO flies over these communities directly at low altitudes. Airplane noise is muted around these areas and is not something that is really objectionable by local residents. There are no real estate forms alerting buyers to noise patterns in either Hillsborough or San Mateo, these forms are for San Bruno, Pacifica, South San Francisco and Daly City only.... more