Shokoofeh Nowbakht

Evaluation of Rental Property
June 2, 2009 · Shokoofeh Nowbakht · 7 Comments

for-rentHow do you evaluate a rental property?
There are many formulas to calculate different income ratios, various expenses and taxes you incur as a landlord. The first thing you should pay close attention to is the existing leases. Find out the current rents, the remaining lease terms and the annual increase in rents for every unit. It is very important to determine how these rents compare to the rents for similar properties in the area?    Read more

Bookmark and Share
Julie Cleland

Nothing Personal…It’s Business!
May 29, 2009 · Julie Cleland · 8 Comments

You’ve lovingly taken care of your house for years, have loads of memories, plans for your future and you assume that all these factors will add value for a buyer. Or you’re a buyer and while the neighborhood you like is a little out of your price range, you want to write offers because you grew up there and want your children to have the same experience. Here’s the problem…if you are the buyer, the seller isn’t interested in your story and sellers, a buyer doesn’t really care about the sentimental attachment to your home. In short, buying or selling a home is a business transaction pure and simple. Read more

Bookmark and Share
Julie Cleland

Come on In…the Real Estate Water is Fine!
May 7, 2009 · Julie Cleland · 8 Comments

Whether you are a buyer or seller you’ve made the decision to jump in the real estate waters. Come on in…just realize you are jumping into a moving stream and not a still pool. No matter what you are trying to do, know that it’s been going on long before you got involved and will continue long after you’ve completed your transaction. All you should focus on is the here and now.
Read more

Bookmark and Share
Kathy Wall

Real Estate Jargon…What Do All of These Terms Mean?
April 6, 2009 · Kathy Wall · 11 Comments

We Realtors often bandy about tons of real estate jargon.  We talk to our clients and friends about short sales, REO’s, contingency periods, etc.     I have come to realize, however, that just because we know what all of this stuff means, not everyone does, so I thought it would be helpful to describe some of the terms we use.   Hopefully, this will give you some idea of what we’re talking about as we rattle on and on and your eyes are going bleary!  Here goes:

Contingency Periods:    We, generally, refer to these when doing our contracts.   As an example, we tell you that you will have a 10 day period to “remove  your property condition contingency” or 20 days to remove loan and appraisal contingencies.   What this really boils down to, is that these are the time frames during which you will have  the right to get your deposit back if  you cancel the contract.   Once you “remove these contingencies,” you are no longer entitled to get your deposit back, unless you can prove some sort of fraud.  Read more

Bookmark and Share
Lee Ginsburg

Offer Pricing
November 14, 2008 · Lee Ginsburg · 2 Comments

I have several buyers very confused.  They offered the asking price for a Daly City home but were outbid by $50,000.  This is not supposed to happen in a today’s buyer’s market.  The low price is a marketing tool and not a realistic list price.  I explained before making a purchase offer, buyers must determine the true present market value. http://www.pruvoices.com/2008/10/what-is-market-value/   Read more

Bookmark and Share
Lee Ginsburg

What is Market Value
October 28, 2008 · Lee Ginsburg · 1 Comment

 

To determine pricing first one should determine present market value.  When assessing residential property four major factors account for I’d say about 75% of the value: 

  • Location · Living area size · lot size· condition/renovations of the property.

Other factors that come into play are the number of bedrooms, baths, bonus areas, in-law potential, color scheme, floor plan, pool, fireplace, single or multi story, attached or not plus more. Read more

Bookmark and Share
Shokoofeh Nowbakht

How much do I offer?
July 16, 2008 · Shokoofeh Nowbakht · Comment here

Ok, you find a house and now like to make an offer, but how much? Don’t think just because it’s a short sale or REO that you can offer 20% or so lower than the asking price. Do your homework, study your market, and find out what the market value of the property is. Discuss it with your realtor. Generally, if the property has been on the market for months and specially if it hasn’t had a price reduction, you would have a stronger position to negotiate. Don’t be surprised to see multiple offers and overbidding on short sales and REOs in today’s market. Sometimes, the listing agents list the property at lower than the true market value to create activities and multiple offer situations. So, talk to your realtor and make a reasonable and realistic offer.

GOOD LUCK!

Bookmark and Share