Do I Need An Agent?
I was at a recent home buying workshop and someone asked if she needs an agent.
In the Bay Area the buyer does not pay for the agent to help them find a home, help them negotiate; walk them through the process, etc. The buyer also does not pay the agent for helping them digest the comparable properties, or get inside information concerning the home or the comparables, educate them on the neighborhood, and more. The buyer never pays the agent anything. The seller’s agent pays the buyer’s agent for assisting them in selling the home, but the agent has a fiduciary duty and obligation to their client, the buyer.
So why wouldn’t you want someone to do all the dirty work, to bounce ideas off of, and to pick their brains with no cost to you.
Every transaction is different. The buyer’s agent does all of the above and more depending on each individual situation.
The most important task the buyer’s agent performs but hardly mentioned, is helping the buyer maintain their emotions. I have seen buyer’s get so excited about a home that they would pay anything for it. Well maybe not anything but more than necessary. A good agent will protect the buyer by making them see reality. On the other hand they might be offended by the seller’s response and might react by cancelling the transaction or respond negatively and blow the deal. An agent is the buffer.
An agent will help the buyer see through the seller’s messy home to see the bones and layout of the home. An agent will keep the buyer focused on the purpose of buying a home, facing reality and prevent them from getting sidetracked. I remember helping a newly married couple with a baby purchase their first home. They liked the well decorated home in a not so good area. They were not familiar with the area. They were prepared to write an offer and I did not want to discourage their enthusiasm. I suggested on the way home we drive by again. We did and they calmed their emotions and changed their thoughts on their own. Read more
Dates to Remember
Thursday Nov. 17 -6:30 – FREE Information Workshop on Energy Rebates -180 El Camino Real, San Bruno
https://energyupgradeca.org/overview
http://www.SDIHomePerformance.com
College of San Mateo, 1700 W. Hillsdale Boulevard, San Mateo, Bldg. 10 – Room 193
The San Mateo Association of Realtors will be hosting this workshop to help you understand the basics of how to buy a home – even if you’re not at that place in life yet – Home Ownership is still the key to reaching Financial Stability and in achieving the American dream. Now is the “Perfect Storm” with low interest rates, low housing prices and low down payments. Professionals in banking, title, credit, law and real estate will provide knowledge and interact with the public on the basics in planning for homeownership. No pre-registration required.
Great Loan Options are Here!!!
Good News Finally!!! – New Energy Rebates
Most of us living in San Mateo County are living in homes forty or fifty years old. Older homes are always in need of some repairs or upgrading. I recently heard that San Mateo County is announcing on Monday that they will match some of PG&E’s energy rebates. You can get up to $8000 in rebates. Not sure if you have to rebuild the entire home to get $8000 but here is the info.
These will double the currently offered rebates. Some upgrades might even qualify for Federal tax Credits. I have read there is even low cost financing with income qualifications.
Attic insulation, furnace and water heater replacement, roof, solar energy and more may qualify. It is certainly worthwhile to look into if you are considering doing some work.
Follow the links for additional information.
http://www.smdailyjournal.com/article_preview.php?id=164559&title=Homeowners%20eligible%20for%20big%20energy%20rebates
https://energyupgradeca.org/county/san_mateo/action_plans/property_type
ATTEND AN UPCOMING WORKSHOP:
San Bruno – Tuesday, August 23 rd 7-8:30 p.m.
Burlingame – Wednesday, August 24th 7-8:30 p.m.
Half Moon Bay – Wednesday, September 14th 7-8:30 p.m.
San Carlos – Wednesday, September 28th 7-8:30 p.m.
Lee Ginsburg
www.leesellsmore.com
“It is Better to Own Real Estate Than Wait To Own Real Estate”
Monte Verde Student Wins Doodle for Google
Our very own Monte Verde School wins big. Monte Verde is in San Bruno but is part of the South San Francisco School District. It serves Monte Verde area of San Bruno and a portion of Westborough area of South San Francisco. What did they win? Monte Verde Elementary School won a $25,000 technology grant and 7 years old, second grade student, Mateo Lopez won $15,000 college Scholarship. This is the results of “Doodle for Google” contest. 107,000 entrants ranging from Kindergarten to twelfth grade and a second grader from our back yard won. San Bruno and South San Francisco residents should be proud of the Monte Verde School and home grown Mateo Lopez. Hurray!!! Congratulations!!!
For additional information please click on the link: http://digitallife.today.com/_news/2011/05/20/6676677-doodle-4-google-winner-matteo-lopez-7
Lee Ginsburg
www.leesellsmore.com
“It is Better To Own Real Estate and Wait Than Wait To Own Real Estate”
Is a Home Warranty Beneficial?
In a Real Estate transaction quite often the buyer or seller discuss with their agent the cost, the coverage, the pros and the cons of a Home Warranty. Many people think Home Warranty is the best creation since chopped Liver. I am not a fan of the Home Warranty Companies. I have found they try to find any excuse not to pay. With a Home Warranty you must pay a service call of approximately $50.00. The cost of a home warranty from most of the major companies is about $500 with a few options. Let’s say you purchased an older home and needed service 3 times. That would be a cost of $650.00. When I have called a service technician to my home with no warranty the cost is usually $150 for a total of $450 for 3 calls vs.. the $650 with the warranty. If the buyer can negotiate for the seller to pay for it then you come out a winner but if not it is not the best financial investment although it could be very comforting. Please do not get me wrong, I have had a client get a water heater replaced so it can be beneficial.
The following article was in the San Jose Mercury News recently and I thought it had some very good ideas on the search for good Home Warranty Companies.
http://www.mercurynews.com/real-estate/ci_18060185?nclick_check=1
The following are some of the major Home Warranty Companies servicing the San Francisco Bay Area:
http://www.homewarranty.com/
http://homewarranty.ahs.com/
http://home-warranty.firstam.com/?code=BM51
http://www.orhp.com/
http://www.hiscohw.com/
http://hghw.com/
“It is Better To Own Real Estate and Wait Than Wait To Own Real Estate”
Lee Ginsburg
www.leesellsmore.com
Is Your Smoke Detector Helping
Nearly 95% of California families are living on the brink of a tragedy. And this isn’t what you are probably thinking. I am not talking about an earthquake. It is the smoke alarms that most of us depend on in a fire.
Like most, I always believed that smoke alarms were pretty much all the same. After all, every smoke alarm sold is required to be tested and approved. The smoke alarms most of us have at home are either Ionization or Photoelectric type alarms. The reality is that all smoke alarms are not the same. In real world fires, these two types of alarms will react very differently. In this case – different is not good. Knowing the difference could very well save your life.
Back in the 1970′s, smoke alarms were largely unknown. Back then, the residential fire death rate was about 7 to 8 fatalities per 1,000 US home fires. Between the 70′s and now, we have installed hundreds of millions of smoke alarms in US homes. Yet today, your chances of dying in a fire still hover around 7 or 8 deaths per 1,000 home fires.
Clearly, something is terribly wrong here. “I estimate that at least 10,000-15,000 people have died unnecessarily in smoldering house fires since 1990 because they relied on ionization detectors” Jay Fleming, Boston Deputy Fire Chief. The smoke alarm marketers tell us that the alarms are the same and more recently that we should have both types. It is true that an ionization alarm responds marginally faster to an open or “fast-flame” fires than a photoelectric smoke alarm. On average, ionization alarms will react about 30 to 90 seconds faster to this type of fire. However, nearly 100% of residential fire fatalities are from smoke inhalation and not from the actual fire. Most deadly fires occur at night while you sleep. Read more
Is the Bay Area Home Buyer Obsessed with School Scores
Many homebuyers in San Mateo, San Bruno, Burlingame, Millbrae and up and down the peninsula purchase their homes based on school scores. I am not sure if API, Academic Performance Index, (http://www.cde.ca.gov/ta/ac/ap/ ) scores is an accurate evaluation method to determine a young person’s education. I find the API scores of a school to determine the college you child goes to as reliable as a City’s Median home prices is in determining the value of your home. Homes in a city are varied and encompass a large diversified area just like a school’s diversified student enrollment and have high and low performing students.
Many of our public schools have a large population of intelligent non- English speaking immigrants. Teachers are trained and cater to that specific group and they also teach to the more advanced student by offering enrichment classes, honor classes, etc. Both of my son’s went to a public High School in San Mateo that possibly has the lowest scores amongst the San Mateo High Schools. They both graduated and went to very good schools. In their graduating class several students were accepted into Harvard, Stanford, MIT and more of the top schools. Some of their friends went to a private high school, were not happy, did not perform well and transferred out. A peninsula high school with a rating of 10 has had an epidemic of suicides. Top scores is not the final answer. Read more
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