You are currently browsing the category archive for the ‘Real Estate’ category.

A Bankrate survey conducted Jan. 30-Feb. 1, 2019 found nearly two-thirds, or 63 percent of millennial homeowners have regrets about buying their home. Overall, 44 percent of American homeowners have regrets about their home purchase, according to the survey.

The most common regret cited was not factoring in unexpected maintenance or hidden costs (18 percent). Other areas of regret included feeling the house was too small (12 percent), house was too big (5 percent); house was in a bad location (8 percent); house was a poor investment (7 percent); monthly mortgage payments were too high (7 percent); and mortgage rate was not the best available (6 percent).

A lot of regret stems from high expectations and being unprepared for the home buying process, said Alan Barbic, president of the Silicon Valley Association of Realtors. “Purchasing a home is the most important decision a person can make. After spending a lot of money on the down payment, closing costs and other fees, it is likely to have an impact on a new homeowner,” said Barbic. “You can minimize buyer’s remorse by taking time to prepare for homeownership. It is not something you should rush into.”

Below are suggestions Barbic makes to take the trauma out of the home buying process:

  1. Find a professional and experienced Realtor with whom you are comfortable and trust. “Real estate is changing now that we have so much information at our finger tips. How we use that information is important. We have heard of many buyers who have made offers sight-unseen,” said Barbic. “You need a good agent whom you can trust, who knows the market and has experience handling the particular needs of homebuyers, whether it is identifying homes and neighborhoods, or negotiating for the best deal. Remember you are not just buying a home; you’re investing in your future.”

    2. Get pre-approved for a home loan right away.
    A preapproval letter sends a powerful message to the seller that you’re a serious qualified buyer and ready to go.

    3. Factor maintenance and repair costs into your budget.
    Even if you buy a new home, there will be some expenses that you did not expect.

    4. Accept that no house is ever perfect.
    Don’t get so caught up in the physical aspects of the house that you overlook issues like amenities, noise level, schools, or traffic that could have a big impact once you live in the home.

    5. Don’t get caught in a buying frenzy. Just because there is competition does not mean you should just buy anything. Even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

“Choose a home first because you love it, not solely for its future appreciation. A home’s most important function is to be a comfortable, safe place to live for you and your family,” said Barbic.

Advertisements

While many people know that a REALTOR® helps consumers buy and sell homes, not many know that a REALTOR® and a real estate agent are not the same. Last week, the National Association of REALTOR® (NAR) launched the “That’s Who We R” campaign that seeks to educate consumers on the difference and the value of a REALTOR®.

The term “REALTOR®” is a registered trademark that identifies a real estate professional who is a member of the National Association of REALTORS® and abides by the REALTOR® Code of Ethics. More than just agents who help clients buy and sell homes, REALTORS® are advocates for property owners, engaged community members and trusted advisors with in-depth knowledge of the industry. The new NAR campaign features compelling stories about REALTORS® helping individuals and families find homes and property, build communities and turn their dreams into realities.

“Our story is a century in the making as we began to set NAR members apart from the rest by establishing a Code of Ethics in 1913. This code is as relevant now as it was one hundred years ago; it’s our pledge of honesty, integrity, professionalism and community service as a true partner for buying or selling a home, or property,” says John Smaby, NAR 2019 president. “’That’s Who We R®’ reinforces that partnering with a REALTOR®, delivers the peace of mind that can only come from working with a real person who is committed to their clients’ futures and neighborhoods just as much as they are.”

Founded in 1908, NAR has grown to be America’s largest trade association representing more than 1.3 million REALTORS® involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors, and others who are engaged in all aspects of the real estate industry. Members belong to one or more of 1,700 local associations/boards and 54 state and territory associations of REALTORS®. Additionally, NAR provides a facility for professional development, research, and exchange of information among its members.

Alan Barbic, president of the Silicon Valley Association of REALTORS®, which has over 5,000 REALTOR® and affiliate members practicing real estate on the Peninsula and in the South Bay, says the REALTOR® pledge to a strict Code of Ethics and Standard of Practice raises the bar among real estate professionals.

“Today’s homebuyers and sellers deserve a real estate professional whom they can trust and who has their best interests at heart. The Code of Ethics goes beyond state licensing requirements and protects all parties to the real estate transaction, not just a REALTOR®’s client. If a local association of REALTORS® finds a REALTOR® member in violation of the Code of Ethics, disciplinary action can be imposed,” explains Barbic.

Barbic adds in order to maintain membership with NAR, SILVAR or any other local association of REALTORS®, NAR requires every REALTOR® to complete two and a half hours of Code of Ethics training every two years.

 

The California Association of REALTORS® is alerting members about a fraudulent email that has been sent to several REALTOR® members from around the state asking them to wire their delinquent REALTOR® 2019 dues. In these reported cases, the email with the subject line “2019 Dues Deadline – LAST CALL” came from a yahoo.com email address.

If you have received such a message, please DO NOT respond to it. It is likely that the sender is phishing for your financial information, or seeking information for other phishing attempts later.

Valid emails regarding your dues should come from your REALTOR® Association’s email address. If you have paid your 2019 dues, please completely disregard the spam email. If you have not paid your 2019 dues, or are not sure if you have, please contact your REALTOR® Association.

According to the Chinese calendar, 2019 is the Year of the Earth Pig, and unlike last year’s Year of the Earth or Mountain Dog, which was a year of highs and lows, market volatility, political and economic chaos and protectionism, the Year of the Earth Pig will bring a progressive business climate, more compromise and concessions. Unlike the Mountain Dog that doesn’t back off, the Earth Pig is gentle, cherishes friendships, takes responsibility seriously and is willing to compromise, according to prominent astrologer, fortune teller and Feng Shui Master Y.C. Sun.

Sun told members of the Silicon Valley Association REALTORS® that this year will bring an energy change that will impact people’s behavior and thinking. People will tend to make a change, such as relocation, job change, commute or go abroad for job or travel.

Investments will increase as will company mergers, buyouts, joint ventures or expansions. This year will be good for real estate as inventory will increase. Parents will encourage and help their high-tech, healthcare and MBA children buy their first home or upgrade to more ideal homes. The market should experience a temporary rejuvenation and home sales activity should pick up by June.

Sun said this year will be a productive year for real estate, but also a critical year which could define the next three years for agents. This year agents need to show their value. Also, because the pig likes to compromise, expect subprime mortgages to surface, but they will be better structured than in the past.

Sun predicts an end to the U.S.-China trade war, with a final deal struck in June. He predicts President Trump will do well, especially in the first two weeks of March, though clashes between him and House Speaker Nancy Pelosi will continue. Sun explained Pelosi, born in 1940, is a Dragon, and Trump, born in 1946, is a Dog. Dogs and Dragons clash in the Chinese Zodiac and can’t tolerate each other.

Jobs and businesses in demand this year are information technology, software and high tech hardware engineers, data scientists, drug production, particularly in cannabis and health care. There will be intense competition in the restaurant business, in electronics, computers, solar energy, entertainment.

Sun predicts the economy will start to stabilize in late August. The stock market will still be volatile, but there will be signs of rejuvenation in mid-August.

The pig can also be naïve and believe in easy money schemes. “Remember that there is no free money,” warned Sun.

The Feng Shui master and astrologer added this year people should avoid overindulging on high fat, high cholesterol foods and junk food. Health problems could revolve around the spleen, kidney, intestines, eczema, gastroenterology, urinary tract, reproductive organs, cold, flu, and swine fever virus.

 

The 20th annual Silicon Valley REALTORS® Scholars Program for graduating seniors from 18 public high schools in Silicon Valley is under way. The scholars program is sponsored by the Charitable Foundation Trust of the Silicon Valley Association of REALTORS® (SILVAR), a professional trade organization representing over 5,000 Realtors and affiliate members engaged in the real estate business on the Peninsula and in the South Bay.

The Silicon Valley REALTORS® Scholars Program is a partnership with local high schools in the region. Principals and faculty at 18 participating public high schools nominate three exceptional graduating seniors. The program awards a $1,000 scholarship to one nominee from each school in recognition of their exemplary record, outstanding academic performance and community spirit. Since it started, the program has awarded $342,000 to graduating students in Silicon Valley.

The scholars from the class of 2019 will be selected from high schools in the communities served by members of SILVAR. Final selections will be made by a committee that includes representatives from the local business community, area high schools, area colleges and the Silicon Valley Association of REALTORS®.

“Silicon Valley REALTORS® are very proud of our excellent schools. They are a major reason why Silicon Valley is a top housing market,” said Nina Yamaguchi, chair of the scholars program of the Silicon Valley REALTORS® Charitable Foundation. “The annual Silicon Valley REALTORS® Scholars Program is an opportunity for our members to show our support for our schools and thank the students, teachers, administrators and school board members in our communities for their hard work and dedication in making the schools in our communities among the best in California and in the nation.”

The participating schools are Leigh High School and Lynbrook High School in San Jose; Westmont High School in Campbell; Fremont High School in Sunnyvale; Los Altos High School in Los Altos; Los Gatos High School in Los Gatos; Gunn High School and Palo Alto High School in Palo Alto; Menlo-Atherton High School in Atherton; Santa Clara High School and Wilcox High School in Santa Clara; Cupertino High School, Homestead High School and Monta Vista High School in Cupertino; Prospect High School and Saratoga High School in Saratoga; Mountain View High School in Mountain View; and Woodside High School in Woodside.

The scholarship is open to graduating seniors from the above-mentioned high schools who plan on attending a four-year college or university. Information about the scholarships, including requirements and applications, may be obtained from the respective schools’ guidance or career counselors.

The completed application must be returned to the high school’s counselor by Monday, March 4, for submission to the Silicon Valley REALTORS® Charitable Foundation. For further information, please contact Nina Yamaguchi at (408) 861-8822 or nyamaguchi@cbnorcal.com.

SILVAR members recognized.

img_2627

A REALTOR® for over four decades, Phyllis Carmichael has achieved so much for the Association in many different roles. She is pictured here with 2018 SILVAR president Bill Moody and Executive Officer Paul Cardus.

A highlight of the Silicon Valley Association of REALTORS® Installation Gala last night was the presentation of the 2018 Recognition Awards by SILVAR 2018 President Bill Moody and Executive Officer Paul Cardus. The awards recognize certain members for their valuable contributions to the Association last year.

Moody first thanked his fellow board members and committee chairs for their support last year. He said it has been a privilege to serve SILVAR’s membership as president.

Recognized for their outstanding contributions were:
2018 REALTOR® of the Year: Phyllis Carmichael (Coldwell Banker Residential Brokerage)
The announcement of REALTOR® of the Year was met with loud applause and cheers. Moody described Phyllis Carmichael as a REALTOR® “who brings forward the best in any board or committee on which they serve.” Moody said Carmichael’s ability to build consensus while pursuing the bold path forward is a hallmark of her decades of service.

A REALTOR® for over four decades, Carmichael has achieved so much for the Association in many different roles. As director, president and treasurer, at the California Association of REALTORS®, on issues ranging from political to governance to financial, she has shared her tremendous expertise with SILVAR and its members.

“Through strong and calm leadership, always with a twinkle and a smile, even in tense moments, she created and grew our Association,” said Moody. “She is sharp, skilled and effective. She is our happy warrior.”

2018 Affiliate of the Year: Audrey Hutton (Hutton Mortgage Team)
The Affiliate of the Year is someone through his or her actions has unequivocally embraced and adopted the principles, goals, and purposes of the Association. Moody said Audrey Hutton “has proven to be a dedicated workhorse and a great proponent of our Association.” He noted Hutton’s firm provides mortgage services in a timely manner with great attention to detail for SILVAR’s REALTOR® members and their clients. He praised her professional support for all SILVAR programs across the Association, with a particular dedication to her home district, Los Gatos-Saratoga.

“Her willingness to help where needed enhances the image of our Association and our REALTOR® and affiliated professional members,” said Moody.

READ MORE HERE

img_2604-1

The Silicon Valley Association of REALTORS® (SILVAR) 2019 leadership team was installed last night at the Los Altos Golf & Country Club. California Association of REALTORS® (C.A.R.) 2019 President-elect Jeanne Radsick administered the oath of office to SILVAR President Alan Barbic and the 2019 officers and board directors. C.A.R. 2005 President Jim Hamilton served as master of ceremonies and welcomed members and guests at the special event. Immediate Past President Bill Moody led everyone in the Pledge of Allegiance and 2019 President-elect Mary Kay Groth delivered the inspiration message.

SILVAR’s 2019 officers include Barbic, a broker associate with Sereno Group Los Gatos; Groth, a REALTOR® with Sereno Group Los Gatos, President-elect; and Jeff Bell, a REALTOR® with Coldwell Banker Residential Brokerage Cupertino, Treasurer.
Joining SILVAR’s lead officers are Moody (Referral Realty), Past President; Denise Welsh (Alain Pinel Realtors), Region 9 Chair; Leannah Hunt (Sereno Group), NAR Director; Jasmine Lee (Coldwell Banker Residential Brokerage), Menlo Park-Atherton District; Lynn Wilson Roberts (Compass) Palo Alto District; Greg Boudreau (Coldwell Banker Residential Brokerage), Los Altos-Mountain View District; Jim Light (Jim Light Broker), Cupertino-Sunnyvale District; Jim Hamilton (Alain Pinel Realtors), Los Gatos-Saratoga District; Directors At-large Mark Burns (Referral Realty), Joanne Fraser (Alain Pinel Realtors), Katherine Frey (Katherine Frey Real Estate), Penelope Huang (Golden Gate Sotheby’s International Real Estate), and Karen Trolan (Alain Pinel Realtors).

READ MORE HERE

The Silicon Valley Association of REALTORS® Los Gatos-Saratoga District got off to a good start for the new year with over 100 members in attendance at Wednesday’s meeting. An upbeat District Chair Jim Hamilton told members 2019 “will be what you make it.”

The first meeting featured a top producer panel with Carol Jeans (Sereno Group), Michael Nevis (Alain Pinel Realtors), Mary Clark (Intero Real Estate Services), Chuck Nunnally (Keller Williams Bay Area Estates) and Audrey Hutton (Hutton Mortgage Group).

The panelists, all experienced in the business, are doers and work hard. Nevis said “the knowledge that this is my business” is what motivates him each day. Nunnally stressed real estate takes hard work and like a hunt, he is constantly searching for business.

Asked their thoughts on forming teams, Nunnally, Jeans and Clark prefer to be independent, while Hutton believes teams are important to grow your business. Her team is comprised of five people who each have roles in the business. Nevis also has a team and finds it serves as a good sounding board. He did note you have to really get to know the person before forming a team.

The top producers stressed the importance of referrals. Referrals only happen through relationships and maintaining then, said Nevis. He likes to invite clients to his home for dinner, to meet his family and get a glimpse of his lifestyle.

“This way things are more real, more personal than talking about average price and days on market,” said Nevis.

Hutton likes to wow her clients, pleasantly surprising them with candy and the like. She holds parties and education classes for past clients.

The REALTORS® stressed the need to get to know clients at an intimate level and connect frequently. Jeans likes to write her past clients, while Clark likes to stop by their home twice a year to connect. She also holds annual client appreciation parties or invites them to events, like a Giants game.

“Keep in touch with past clients and show them your care,” said Nunnally. “This is a people business.”

The REALTORS® said the 2019 housing market may not be as fast and furious as in the past, but they don’t believe it will crash and burn either. Nunnally advises agents to attend seminars, get educated about the market, and spend money. You need to spend money in order to make money in real estate, he said.

Jeans encourages agents to learn as much as they can, work with discipline, build relationships and “remain who you are in the business.” She believes there will always be a demand for homes in the region.

Nevis encourages agents to team up with someone with experience and “find your cheerleaders,” while Hutton advises agents to be specific, have a purpose, and share their goals with their clients.

“This year will be awesome. There is opportunity in any market,” said Clark.

The Silicon Valley REALTORS® Charitable Foundation donated $44,665 in 2018 to different non-profit organizations that help homeless and low-income individuals and families in Silicon Valley. Funds this year also went to scholarships for graduating seniors from public high schools in the region.

The Silicon Valley REALTORS® Charitable Foundation is a trust which makes grants available to organizations from donations by REALTORS® and affiliate members of the Silicon Valley Association of REALTORS® (SILVAR). In addition to voluntary contributions from members, grants are funded by proceeds from SILVAR’s district fundraisers. The Los Altos-Mountain View District annual pumpkin auction in October raised $5,500, which the district donated to the foundation. Net proceeds of $2,389.75 from the Los Gatos-Saratoga District’s annual bocce ball tournament were also donated to the foundation.

“With rising home prices and rents, these are hard times for many residents. More people are being displaced and are homeless, poverty is on the rise in Silicon Valley. We thank our members for being so generous in supporting the foundation this year,” said Eileen Giorgi, president of the Silicon Valley REALTORS® Charitable Foundation. “With our members’ continued support and contributions to the communities where they work and live, we are thankful that we are able to continue our commitment to the welfare and prosperity of these communities.”

The 2018 grant recipients include Adolescent Counseling Services, which provides a network of skilled family therapists and support groups for teens and young adults in Santa Clara and San Mateo counties; East Palo Alto Kids Foundation, which promotes educational opportunities for students in East Palo Alto and eastern Menlo Park; Westwind 4-H Riding for the Handicapped, which provides children with disabilities the opportunity to have fun while improving their coordination and strengthening their muscles; Youth Community Service, which provides service learning and leadership activities to underserved students in East Palo Alto, Menlo Park and Palo Alto; and Community Services Agency, which provides social services, such as emergency one-time rent and utility financial support, vouchers for clothing, eyeglasses, school supplies, food and more for residents of Mountain View, Los Altos and Los Altos Hills.

SILVAR’s districts, through the Charitable Foundation, likewise made donations to local organizations in 2018. The Los Gatos-Saratoga District donated $6,835 and an additional $200 that it raised at the annual District pumpkin auction to the Family Giving Tree’s Operation Reindeer program for holiday gifts, including clothing essentials and food certificates, to needy families and seniors in the community. The Cupertino-Sunnyvale District presented $750 each to West Valley Community Services and Sunnyvale Community Services for their respective backpack programs for low-income students, and $1,250 to the Sunnyvale K9 Unit to provide necessary equipment, like vests for its police dogs. The Los Altos-Mountain View District fall legal update raised $880, which the district donated to Community Services Agency.

In 2018, the Charitable Foundation Scholars Program presented a $1,000 grant to each of 18 graduating seniors from public high schools in Silicon Valley. The foundation has been assisting students with the scholarship grants for the past 19 years, awarding a total of $342,000 in scholarships to date.

The Charitable Foundation also supports further education for U.S. veterans. This year, The John Tripp Silicon Valley REALTOR® Scholarship granted its second $500 award to veterans enrolled at Foothill and DeAnza colleges. In 2016, the foundation presented $25,000 to Foothill-De Anza Foundation, an auxiliary organization of the Foothill-De Anza Community Colleges District for the creation of the endowment. The late John Tripp was a veteran of the Korean War and past president of SILVAR and the Silicon Valley REALTORS® Charitable Foundation.

 

 

 

 

 

DSC09145

SILVAR President Bill Moody welcomes members to the association’s annual general membership meeting.

At the annual Silicon Valley Association of REALTORS® (SILVAR) general membership meeting early this month, members of the local trade association learned the good news that SILVAR’s membership, now at over 5,000, continues to increase and that the association is on solid financial footing and continues to help members better serve their clients with the latest tech tools and education. 

Executive Officer Paul Cardus said more REALTOR® members are utilizing tech tools as a quick and more efficient means of completing residential transactions. They are taking advantage of membership benefits like DocBox™ and DocBox2Go™, the mobile version of DocBox for online document storage and management.

Also through September 2018, 3,182 SILVAR REALTORS® have used PRDS Forms on Instanet and 63 percent have accessed the online platform. PRDS forms, which Cardus described as the association’s “crown jewel,” are the extensive line of paper and online forms used by members for residential purchase and sales transactions on the Peninsula and in the South Bay. Cardus said he is never tired of being told that “PRDS and SILVAR set the standards of care for our business.”

SILVAR’s Global Business Council as also awarded the National Association of REALTORS® Diamond award for Global Achievement, NAR’s top level award that recognizes those global councils that have consistently performed at the highest level for six years. SILVAR GBC is only one of six Associations of REALTORS® nationwide to achieve Diamond status. Cardus encouraged members to participate in SILVAR global and other programs and attend classes offered by the Association.

The Silicon Valley REALTORS® Charitable Foundation has donated over $40,000 in the form of grants and scholarships to date in 2018, reported Cardus. This year, The John Tripp Silicon Valley REALTORS® Scholarship granted its second $500 award to veterans enrolled at Foothill and DeAnza colleges. The Charitable Foundation also has assisted students with the scholarship grants for 19 years with $342,000 awarded during this period.

 

 

March 2019
M T W T F S S
« Feb    
 123
45678910
11121314151617
18192021222324
25262728293031

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 59 other followers

Advertisements