San Mateo County Real Estate

 

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The California Association of Realtors and Realtors as a whole are supportive of property owners and their rights.  On the way in to the office this morning, I heard an ad for Prop 99.  And yesterday I heard the radio ad for Prop 98; they said it was supported by the California Association of Realtors.  It’s so confusing, I had to look into it further to see what’s going on. 

The information below was taken directly from the CAR site:

C.A.R. supports “Yes” vote on Prop. 98 to protect homeowners from unjust eminent domain takings

LOS ANGELES (May 13) – Imagine someone from your city or community knocking on the door of your home and telling you to move because they have found someone else who will contribute more in taxes than you do. Sound far-fetched?  Not if you’re one of the thousands of people throughout California currently living under the very real threat of being kicked out of their homes by local governments to make room for more expensive stores and homes. To prevent this egregious use of eminent domain, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today announced its support of Proposition 98 on the June 3 ballot. Prop. 98 will impose an outright ban on the use of eminent domain to take any private property – including homes, business and farms – for another private use.

“Proposition 98 on the June ballot will restore fundamental property rights by prohibiting governments from using eminent domain to take private property for another private use,” said C.A.R. President William E. Brown.  “Cash-strapped local governments have resorted to abusing the concept of eminent domain to make land grabs they hope will bring in more tax revenue,” he said. “What once was a legitimate means for governments to invest in public infrastructure like roads, schools and parks is now a hammer used to destroy the rights of homeowners.”

“While nobody may be knocking on your door today, a “Yes” vote on Prop. 98 will ensure you aren’t the next victim tomorrow,” Brown said. “We are urging all to vote “Yes” on Prop. 98 on June 4.”

C.A.R. also has taken an “Against” position on Proposition 99, which, if passed, would cancel the provisions protecting homeowners in Proposition 98.
Proposition 98:

• Limits Eminent Domain to Public Use – Proposition 98 limits the use of eminent domain to public use projects, such as freeways, schools, or parks.

• Prohibits Price Controls on Private Property – Proposition 98 prohibits government from imposing rent control or inclusionary zoning ordinances on private property.  As units are vacated, price controls will be “lifted.” Furthermore, Proposition 98 will prohibit future land use restrictions that act as a “taking” for the benefit of another private interest.

• Limits Government Taking for Similar Use – Proposition 98 prohibits government from taking private property to be used for the same purpose, such as taking property with residential housing to be used for government housing.

• Limits Government Seizures to Exploit Natural Resources – Proposition 98 will protect family farms and open space from seizures of their land by government in order to take the property’s natural resources.

• Provides Full Compensation – Proposition 98 is the only measure that requires full compensation to business owners, even when the property is seized for public projects.  Owners will be entitled to compensation for temporary business losses, relocation expenses, business reestablishment cost, and other reasonable expenses.

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O’Brien Homes will be opening Connemara, Pacifica this weekend on what is expected to be the warmest several days of the year so far.  Although the market may not be cooperating with them, the sunshine will.   

It’s been a long process - 5 or 6 years - to get the final construction approval, but they’ve broken ground and begun laying foundations.  That old quarry is now 23 home sites getting ready for their new owners.  

There’s a total of 47 acres but just 23 of them will actually be built on.  The balance of the land will remain open space to be maintained by the Golden Gate National Recreation Area.   

Ten of the 23 homes will have incredible ocean views overlooking the pier.  The homes range in size from approximately 2,055 square feet to just over 3,300; with lot sizes from 5,300 to 9,100 square feet.  There are four basic floor plans with a variety of finish options as well as the possibility for carriage houses above the garage for some, three car garages, and downstairs bedrooms with full baths. 

About ten of us local Pacifica Realtors were invited yesterday to take a walk of the site, have a quick lunch and give our opinions regarding pricing.  Just a little inside information:  Realtors rarely agree - especially on price.  As I expected, it turned into a little bit of a friendly argument.  Since they’ll be open and hope to be selling their first homes this weekend, they’ll have to digest and determine their final pricing plan by the end of the week.  I’m really interested to see how much consideration they give to our suggestions.

 

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There are truly no real emergencies in real estate, but one of the worst things you can do is become incognito.  I always ask for every piece of contact information I can get; nevertheless, it’s inevitable that someone will go on vacation or out of town and not let me know.    

The other day when one of my clients apologized for not getting back to me sooner, I told her:  Don’t worry.  I know where you live.  If necessary, I’ll park myself at your desk or in your driveway.  I’ll call you on every phone number I can find, send emails, and even call your mother if I have her number - and sometimes I do! 

Although there aren’t any emergencies, there are certainly times when I need to speak with a client RIGHT NOW.  If we’re in negotiations or an important decision needs to be made, the last thing I want to find out is that you’re on a plane to tim-buck-two and I won’t be able to get a hold of you for a couple of days or even hours.   

The first two weeks of a purchase or sale are the busiest, when you’ll be involved the most.  So if you have a business or vacation trip, don’t plan on writing an offer and jumping on a plane to a far off land where you’ll be unreachable.  I’ll hunt you down!

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City/Area	Current Inventory	Sold	Avg Days to Sell	Avg Sales Price	Median Sales Price	% of List Price Received
Atherton	30	8	55	5,735,714	4,400,000	95.44
Belmont	58	21	51	984,555	930,000	99.80
Brisbane	15	2	86	555,000	555,000	95.12
Burlingame	49	12	14	1,727,350	1,593,000	100.19
Colma	5	0	0	0	0	.0
Daly City	234	38	107	574,500	560,500	97.11
East Palo Alto	153	9	124	323,322	310,000	98.73
El Granada	31	4	108	964,250	873,500	95.76
Foster City	26	6	62	1,128,833	1,099,500	97.16
Half Moon Bay	60	8	171	936,207	855,328	92.38
Hillsborough	46	10	48	3,065,000	2,487,500	95.80
La Honda	13	0	0	0	0	.0
Loma Mar	3	0	0	0	0	.0
Menlo Park	118	30	36	1,881,556	1,775,000	102.97
Millbrae	44	9	43	1,067,866	1,055,000	99.17
Montara	21	1	10	970,000	970,000	98.08
Moss Beach	18	2	26	747,500	747,500	97.20
Pacifica	110	16	62	676,115	664,500	98.18
Pescadero	10	0	0	0	0	.0
Portola Valley	30	7	84	2,160,660	2,075,000	99.05
Redwood City	247	44	68	954,710	910,500	98.04
Redwood Shores	13	7	17	1,089,714	1,040,000	98.49
San Bruno	112	20	107	636,225	645,000	96.15
San Carlos	64	22	37	1,042,775	915,000	101.33
San Gregorio	2	0	0	0	0	.0
San Mateo	190	47	46	1,057,851	925,000	99.24
South San Francisco	146	19	101	621,839	585,000	94.06
Woodside	37	4	127	2,697,750	2,460,500	99.11

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I have a love-hate relationship with Trulia and so do my AG compatriots.  Any time you have a group of people - any group of any people - the quality of that group will drop to the lowest denominator.  On Trulia you have the best of the best and the worst of the worst.  Some of the questions make me shake my head and so do the answers.   

The other day one came up that I thought was interesting enough to talk about a little more.  I guess Trulia did too because they quoted me on their blog. 

Here’s the question: Why don’t agents like to get call from buyers directly?  

Guy has a problem that he’s willing to admit.  The problem is that his problem becomes my problem pretty quickly.  One of the first questions I ask a caller is whether or not they are represented by a Realtor. 

When you’re represented by a Realtor, not only does that Realtor have professional and legal responsibilities to you, so do I.  I could be dragged through the mud for interfering with a relationship that has already been created between you and your representative.  I could also deal with a lot worse:  I could be sued.  BY YOU.   But I’m not your agent - oh, yes I am. 

Here’s the situation:
You call me.  We have a conversation about a particular house.  I tell you that based on the location of the house your child will attend Vallemar School.  You buy the house.  You then find out that your child won’t attend Vallemar School.  Attendance at Pacifica schools are not determined by the location of the house.  Who are you going to sue?  Me, of course.  

I wasn’t involved in the purchase.  I didn’t get paid.  I’m still legally responsible for the information that I gave you.   

Many people would like to think I’m just rude; I just don’t want to spend the time to talk to a buyer who already has an agent.  Well, in some ways they’re right.  I don’t know your circumstances and I’m not going to find out in a five minute conversation.  I don’t want to get sued.  I don’t want to ruin my reputation by speaking to somebody else’s client.   

So when you go on Trulia to ask what you think is an innocuous question, think again.  I could get sued for answering that question wrong; now it’s in black and white for the whole world to see for eternity.

click here for instant access to available homes

 

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Buying and selling real estate is one big negotiation - a game, if you like.  It’s strategy, thinking, planning.  Each step of the process requires another piece of negotiating and has to be thought-out prior to - with the end in mind.  Negotiating is not only complex, it’s crucial to your success in the process.  It’s also a key reason to have a Realtor working on your behalf. 

This super stressful life experience, is usually surrounded by another stressful event such as marriage, divorce, death, new baby or job change.  It’s extremely difficult - I’m willing to say impossible - to navigate the process while also managing the rest of your life.  You could unknowingly give your power away in one conversation. 

Although being honest is a good policy, when you’re negotiating your sale or purchase you have to remember who’s side you’re on - yours.  Think before you speak to another agent, someone at an open house, a neighbor, a prospective buyer, or anyone else for that matter.  Rely on your Realtor to negotiate for you and give them all the tools they’ll need to get the job done right.  

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Your own agent, that is. In other words, 5 reasons not to work with the listing agent. If I could think of another way to say it — oh, wait! I know. Don’t even think about. Ever. Forget it.

1. The listing agent works for the seller. As Realtors we have a fiduciary responsibility to our client - our first client. That means the listing agent’s legal duty is to the seller FIRST. The agent’s job is to get the seller the most money. Under that scenario how is he/she going to get you the best deal?

If you’re asking the listing agent to give you the dirty details on why the seller is selling and he/she gives them to you, what do you think the seller knows about you? Maybe how much you’re willing to pay? Maybe how much you’re pre-approved for? Maybe how badly you want the house?

2. See number 1.

3. See number 1.

4. See number 1.

5. See number 1.

click here to review available homes

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The California State Assembly will vote on AB 2678 this week.  If this bill passes it will affect you - whether you plan to buy or sell a home.   Somebody will have to pay for the audit and the work that will follow.    

AB 2678 will require a state agency to set up a process to require energy efficiency audits on ALL homes and commercial properties in California at the time they sell. These audits will cost up to $400 for homes and ultimately require point of sale energy efficiency retrofits that may cost thousands of dollars.    

 

The California Association of Realtors’ research data concludes that only 22% of the homes most in need of retrofit will change hands between now and 2020. By the time a point-of-sale program is devised and adopted, this number would be even lower. The point-of sale approach falls critically short of reaching what is needed to achieve the state’s goals.   

Every $1,000 increase in the price of a home disqualifies 26,600 California households from achieving home ownership. Even in the current market, housing affordability in California remains abysmal. In addition, mandatory point of sale energy efficiency investments can add thousands of dollars to the price of a home.  

To really achieve the goals of California’s statewide and national energy and environmental policies and commitments, the C.A.R. suggests that AB 2678 be amended to reach all California homes through a comprehensive, phased in, statewide approach that does not burden home ownership at its most vulnerable point – when it sells! 

As a future home seller or buyer, get involved.  Contact your legislature now to voice your concern over AB 2678.  Request that they either vote no or remove this point-of-sale requirement from the bill. 

Click here to find your legislator’s contact info.

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1.  Work with the listing agent.  Although this is legal, I don’t see how the listing agent