Without doubt, the best time to think of selling your San Jose area house is before you buy it.  In fact, there’s a saying in professional real estate circles that, “You make your money when you buy.”  Unlike prior generations, today’s home owners will typically sell their house within five to seven years.  That may seem like a long time in your own personal life, but it is just minutes in the world of  San Jose homes for sale.

Wouldn’t it be nice to go into your purchase with a plan in mind?  Here are a few tips on how to choose a San Jose house for resale value, while also finding a home that you absolutely love.

• Purchase Price. Perhaps the biggest lesson learned from the housing crisis is to not overpay for a house.  This can be tough when you absolutely fall head over heels for a home.  But paying a fair price today means you’ll be able to accept a fair price tomorrow.  So check your emotions at the door, and proceed with your head.  It’s worth taking time to research pricing trends in San Jose area neighborhoods before committing to a purchase you may regret when it’s time to sell.  We have the resources, years of market insight, community knowledge and negotiation skills to ensure all our buyers pay only what they need to for  any San Jose home for sale.

• Location, location, location! Location can either be your best friend or your worst enemy when buying a home, and in essence, can make or break a home’s resale value.  San Jose area communities provide the life force for home price.  High ranking school districts, recreation facilities, and shopping are just a few amenities that you can bet will capture the eye of future home buyers.  Researching future development and zoning regulations will also help ensure your new home will be an asset when it comes time to sell.

Noting the details of the location is important too.  Does the lot back onto a busy street?  How about a shopping center or hospital?  Traffic noise, parking lot lighting and trash receptacles bordering your backyard will definitely have an impact on resale.  Noting the condition of neighboring houses will also play a key role in determining resale value.  Most neighborhoods will have similar lot sizes, with smaller and larger lots to fill in awkward spaces such as cul-de-sacs and road curves.  And while larger lots are usually more desirable, you may end up paying a premium that you won’t recoup when it’s time to sell your San Jose home or real estate investment property.

• Repairs, Remodeling, and Fixer-uppers. When deciding on a San Jose home for sale, know the difference between acceptable and unacceptable repairs and upgrades.  Cosmetic changes such as ugly wallpaper, paint, and door hardware are easy fixes and worth the time and money.  Foundation cracks, water damage, and roof damage are not as kind to resale value.  These are repairs that are necessary to maintain the current value of your home and, unless the home is priced below market, won’t add a penny to resale value when it’s time to sell.

And most importantly, you’re not alone in purchasing a home!

Our Buyers have the peace of mind to focus on finding the perfect San Jose home while we look with a critical eye at every home’s potential resale value.

Continue: read part 2 for buying a San Jose house for sale

Buying a home in the San Jose real estate market can be a daunting task.  So many questions – How do I get a mortgage? How much can I afford? Will I find a home that fits my needs?  What exactly is PMI?  It can be easy to lose sight of the home’s salability in the future.  The good news is we can help answer all these questions and guide you toward a San Jose home with solid potential resale value.  The following bullets describe some key features to look for when shopping for San Jose homes for sale that will bring the most bang for your buck when it comes time to sell.

• Landscaping: Landscaping can have a drastic effect on resale value.  It’s 50% of Curb Appeal.  Too little or too much, and you’ll find yourself wondering what you could have done differently.  You want the landscaping to look maintained and inviting, but not cumbersome.  Too much landscaping could come off as being too much work for potential San Jose buyers, thus limiting your buyer pool and lowering the value of the house.

• House Size: Home sizes vary throughout the San Jose area.  Once again, buyers looking for strong resale value should play the conservative hand and search for a home that is of average size for the neighborhood.  The selling price of the largest house in the neighborhood will often be dragged down by the smaller, surrounding homes.  And likewise, the smaller home values will often be helped by the larger homes.  We provide our neighborhood insight and San Jose market data to all our buyers to help them find the best deal on square footage while they shop.

• Bedrooms and Bathrooms: Most home buyers are looking for three to four bedroom houses plus a space for office activities.  Staying in this range, automatically gives you an advantage in the market.  Too few rooms will limit your buyer pool, and too many may turn off potential buyers due to higher heating and cooling bills.  And a home should always have at least two bathrooms, preferably two and a half.  Master bathrooms attached to the master bedroom are also a big plus and will bring a greater potential for higher resale value.

• Kitchens: If there is one area where buyers should not compromise, it lies in the kitchen.  After all, it’s where everyone in the house congregates.  An amazing, eye-popping kitchen will sell a house almost by itself.   Buyers looking for a San Jose house that will sell easily in the future should look for a kitchen that is open, has a great layout for socializing, and also has easy access to a back patio or deck for barbequing.  Double ovens, granite countertops and updated cabinetry are also plusses that will bring in worthy offers.

• Storage: As we all know, there is never enough storage.  You can be sure that buyers searching for Los Gatos homes for sale will have their eyes out for homes with multiple walk-in closets and linen closets.  Kitchens, secondary bedrooms and bathrooms should also have ample storage space.  Basements, garages, and attics are great places to find hidden opportunities for storage space.  And while our buyers are experiencing potential homes, we keep an eye out for creative storage opportunities that will not only make your life easier, but will also mean a lot to future resale value of your San Jose home.

• Finishes: Once you’ve taken care of the top four resale points, it’s time to look at finishes.  While finishes do not necessarily raise the value of a home by themselves, they will certainly seal the deal for anyone who is riding the fence between your house and the one next door.  Tastefully painted walls, upgraded countertops and cabinets, and updated hardware can have a big impact on the resale value when it comes time to sell.  The important tip to remember is that conservative is always better.  You may have fallen in love with your cobalt blue granite countertop, but chances are the next buyer won’t feel the same way.

And most importantly, you’re not alone in finding a great San Jose home with resale value.  If you want to make sure you make a financially responsible decision in your San Jose home purchase, Contact Us and we will ensure that you not only love your home today, but also love its resale value tomorrow!

There are no ‘Magic Wand’ solutions if you find yourself against the wall with your mortgage.  Using common sense and a applying pragmatic approach is still the best and most effective way to determine whether you should sell your Los Gatos home or buy a smaller more affordable house in San Jose.

A good rule of thumb is to obtain 3 professional opinions and weigh them one against the other.   The first solution may not be the only solution and… Watch This Video!

California property owners who are over 55 years of age may qualify to transfer the assessed value of their principal residence home sold in one County to their new principal residence they buy in another County.

A copy of the tax bill from the other county and a copy of the applicant’s birth certificate will be required by the County Assessor to be included in the application.

This website provides property tax answers for property owners who are selling and plan to move.

A Copy of the grant deed for the new purchase along with a copy of the closing statement of both the sale and purchase are also required.

Here is a short summary of the eligibility requirements…

• Either the seller, or a spouse residing with the seller, must be at least 55 years of age when the original property is transferred.
• The replacement home must be of equal or lesser “current market value” than the original property.
• The replacement property must be purchased or built (newly constructed) within two years (before or after) the sale of the original property.
• An application must be filed by the owner within the three years following the purchase date, or completion date of new construction, of the sale of the original property.
• The filing is a one-time-only opportunity.  Prop 60/90 cannot be granted if the claimant, or spouse of the claimant has already been granted this relief in the past.
• Prop 60/90 relief includes, but is not limited to: single family residences, condos, units in planned unit developments, cooperative housing, corporation units or lots, community apartment units, mobile homes subject to local real property tax, and owners’ living premises which are a portion of a larger structure.
• You, the taxpayer, are not eligible for this relief until you actually own AND occupy the replacement property as your principle residence

Proposition 90

Proposition 90 allows a homeowner to transfer the base year value of their principal residence in one county to a newly purchased residence in another county providing that certain requirements are met. Only a limited number of counties are participating in Proposition 90.

Proposition 90 Requirements (Santa Clara County):

• The requirements for Proposition 90 in Santa Clara County are the same as for Proposition 60 except for the following:

1.  Effective date: November 9, 1988.
2.  A non-refundable processing fee of $78 is required.

• The effective dates and filing fees vary from county to county. Those property owners interested in transferring the base year value from their principal residence located in Santa Clara County to a newly purchased residence in another county should call that county to make sure that the other county is participating in Proposition 90.
• Applications must be filed in the county where the newly purchased residence is located.
• The following is a list of those counties which have approved Proposition 90 and will currently accept base year value transfers from other counties.

It is essential for you to call the co-operating County to which you wish to relocate.  You will want to verify that they are currently accepting the value transfer under Prop 90 and what their particular requirements are.  For any further questions, the property tax office in Sacramento for all counties in California can be reached by calling (916) 445-4982.

Counties can and should be verified by calling the appropriate number…

• Alameda – (415) 272-3755
• Orange – (714) 834-2746
• San Diego – (619) 531-5507
• San Mateo - (415) 363-4500
• Los Angeles – (213) 974-3101
• Santa Clara – (408) 299-4347
• Ventura – (805) 654-2181

Assessor Real Property – General Questions, Property valuations and Propositions 3, 8, 60, 90
70 West Hedding St., East Wing
5th Floor
San Jose, CA 95110
Phone: 408-299-5300
Email: RP@asr.sccgov.org

Some lucky folks are going to be new homeowners in Los Gatos!

Great prices and locations are just the beginning.   17250 Pine St.Los Gatos is a short sale,  I know,  Yuk.  Not really!  Look what the fundamentals look like…

Schools: Great!  Location: Great!  Price: Amazing!

Use ‘the proper strategy and be prepared for a few bumps’ is the bargain hunters code. One may be a foreclosure one a short sale, however what would expect a bargain to look like?

Los Gatos is a tough area to find affordable homes and these 3 are a step in the right direction. Preparing for an opportunity equates to good luck, right?

The 2nd homes for sale in Los Gatos is 15175 El Gato and the 3rd house for sale in Los Gatos that I see as a great first time buyer pick is 228 Calle Marquerita.

Buying a Los Gatos foreclosure like this, while taking advantage of the Home Buyer Tax Credit, is a winner all around.

See all the Pics Virtual tour and more for this Los Gatos Foreclosure (REO)

foreclosure related articles…

• Citi Announces Pilot Program to Avoid Foreclosures  dailyfinance.com)
• Foreclosures Fall 10% in January, But Remain 15% Higher Than a Year Ago  dailyfinance.com)
• Should You Ditch Your House?  cbsnews.com)
• Foreclosures will hang around  fresnobeehive.com)

Actually, rollercoasters scare the dickens out of me.  I like the idea of knowing what the outcome of something is going to be.  This is where buying a shortsale and riding a rollercoaster  share a similarity.  You never know what’s next!

They are both exciting and both can be frightening.

Changing the course of a rollercoaster, to reduce the scare factor, is impossible, however  you can make that rollercoaster short sale purchase like a ride on the Teacups at Disneyland.

The Teacup ride strategy to short sales should go like this….

• Screen properties for their potential to gain a short sale approval.
• Commit to the process.
• Prepare for a flexibility.
• Hire a Realtor proficient in Distressed Properties and Short Sales.

I think I like tea.

• Screening the properties, for their ability to gain a short sale approval, is a bit like having to do the maintenance inspection to be certain the rollercoaster is safe before you squeeze yourself into the seat.

Just last week I showed a very nice short sale house and the listing agent said they had a 3rd party negotiator. I thought.. great!  Only to learn the agent would not disclose the 3rd party.   Big red flag!   Obviously a ruse that would come back and make the buyer spill their tea.

You need to learn how many banks are holding the mortgage lien(s), which bank(s) and how far upside down are the current owners.   What is the mindset of the seller… Angry, Relieved?   Using these factors  an equation can be arrived at to grade short sales.

Committing to the process is as simple as buckling into the seat.  Once you have screened out the bad properties be prepared for surprises and commit to finding resolutions and making compromises .   Be certain this is what you want to do before you move forward and commit yourself  to the entire process.

Preparing for flexibility simply means you should not set a date certain to move from your current residence.  This is especially important if you are employing a moving company.

You wouldn’t plan to eat lunch at 12 noon and then ride a rollercoaster.  You would leave your lunch plans flexible to prevent a big mess.  Be flexible.

Select a range of dates for your move and make allowances with your landlord or your current home sale.  This will save a ton of stress and related problems.

If you have hired a competent lender you will have additional flexibility in your loan terms, loan lock and room to increase your approved loan amount should it become necessary to pay unforeseen expenses.  A huge problem with short sales in San Jose.

Hiring a multiple listing Realtor, who has extensive short sale experience, is what most buyers fail to do and learn of their error far too late to overcome their mistake.  Kind of  like getting on a broken rollercoaster.

If your short sale of choice is listed with an inexperienced agent,  it will make little difference how good your Realtor is.  This is a huge factor in any short sale equation.

Your Realtor should also have experience in working with a number of different banks,  have proven skill overcoming pitfalls and implementing solutions for those that are unexpected.    Successful short sale listing and selling experience is an absolute must!   If one  says to you  ” I can do it,  it’s easy.”…

….Find another amusement park.

Knowing what documentation to ask of the listing agent, to give you confidence you have committed to the right home purchase, and providing you with a  clear understanding of the progress of the sale, is an important part of your Realtor’s job.

Without this level of  experience and clear communication you will feel like you are on a non-stop rollercoaster.

So what will it be, an exciting ride on the Teacups or a risky rollercoaster ride?

Here is a long list of short sale FAQs and tips to hire a multiple listing realtor.

You’ll find the following Los Gatos property a great value.   An affordable short sale house in Los Gatos….

17250 Pine St, Los Gatos

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Staging – 5 Easy Ways to Sell  Your  Home For More Money

Thinking about putting your home on the market this spring?  Are you going to be a home seller or just another host of a Los Gatos ‘home for sale’?  It’s never too early to start planning for your upcoming  home for sale.  And there’s a lot to think about.  Perhaps one of the most crucial pieces to finding that perfect buyer is staging your home for sale properly.  And that means…..de-cluttering.

Having a lot of clutter lying around the house tends to tell prospective buyers that “this house is your place, not theirs”…..never a good message to send.  Removing clutter will not only make your home appear clean, well maintained, and move-in ready, but will also give you the added benefit of helping you relax after a stressful day of work.  Here are seven tips on how to de-clutter your home.

1. Prepare for a de-cluttering marathon.  This is a big, sometimes emotionally draining task and is best tackled in small bites.  You’ll want to gather some de-cluttering tools before you begin.   Garbage bags, boxes, and dusting cloths can be most helpful.  If you find yourself having trouble staying organized throughout the process you may want to start three piles labeled “throw out”, “put away”, and “charity.”  This approach will keep you from throwing out things you want to save, and saving things you want to throw out.

2. Throw out old, unused stuff that tends to find itself on countertops and shelving such as junk mail, bills, receipts, etc….  Outdated paperwork can also find its way into drawers and closets.  Potential buyers want to see San Jose homes for sale that have lots of counter space, not your mail or last Sunday’s paper.  So don’t let the junk mail keep you from receiving an offer.

3. Sort through closets to find extra storage space.  If your closets are overflowing with “stuff”, it may be time to do some closet purging.  Potential buyers love to see storage space when they open closets.  If the buyer’s eye goes directly to the boxes, cloths and clutter, they won’t notice all the great storage space you have.  Overflowing closets also have the habit of telling buyers that your home doesn’t have enough storage.  But not to worry, there is an easy fix to the full closet…..  If you haven’t used something in a year, throw it out.

4. Clean off book shelves to give your room an open, lighter feeling.  Again, buyers are looking for a Los Gatos home that has lots of storage space and if your shelving is packed with stuff, buyers will assume your home doesn’t have enough storage.  Maintaining well organized, half-full book shelves also gives the appearance of space and can make a room feel larger than it actually is.  And don’t forget to pack up the majority of your personal pictures when staging a home for sale.  You want potential buyers to see themselves in your home.
5. Maintaining clear kitchen countertops has the potential to visually double the size of your kitchen.  Always a good thing.  The golden rule for countertops is to have no more than two appliances sitting on the counter.  Los Gatos homes for sale that feature vast expanses of countertop space will have a competitive advantage in today’s buyer’s market.  And it would be a shame to miss out on an offer because kitchen clutter overshadowed your fabulous countertop space.

Then you are on your way to the 26  seller tips.

And last, but not least, celebrate!  If you’ve managed to de-clutter your entire home, then you deserve a pat on the back.  You’ve just completed the most inexpensive remodel of your home possible.  Potential buyers will see the value in your work and you will, quite possibly, be rewarded with a higher offer!

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