Welcome to our blog!

The smart side & heart side of real estate

Silicon Valley Real Estate News, Market Trends...having an investor mindset & a look at what makes a house a home.

You’ll find our blog to be a wealth of information, covering everything from local market statistics, property investing, and home values to community happenings. In Silicon Valley many people are concerned about making it financially - our focus is to encourage an investor mindset, even for residential real estate, at the same time we cover what truly makes a house a home.

That’s because we care about the community, your Silicon Valley experience, and want to help you find your place in it.

We also have a little bit of fun here! Our team lead Kelsey Lane has been in real estate 17 years, and this is a forum not only for new clients, yet also for friends, family and the many clients and vendors who have become like friends and family.

Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 21, 2024

Kickstart the Year with a Fresh, Organized Space!

 

As summer winds down and the new school year approaches, it's the perfect time to get your home organized for a smooth transition back to the classroom. Whether you have little ones starting kindergarten or teens gearing up for high school, setting up an organized space can make all the difference. Here's how you can tackle back-to-school organization with enthusiasm and ease.

1. Create a Command Center

A command center is a must-have for any busy household. Designate a spot in your home where you can keep track of important dates, to-do lists, and school schedules. A bulletin board or whiteboard is perfect for displaying the family calendar, while hooks and bins can hold backpacks, lunchboxes, and school supplies. This central hub will keep everyone on the same page and help you stay ahead of deadlines and activities.

2. Declutter and Reorganize

Before the school year begins, take some time to declutter your home. Go through closets, drawers, and study areas to clear out old papers, outgrown clothes, and unused items. This not only creates space for new school supplies but also helps kids start the year with a clean slate. Organize remaining items into clearly labeled bins or folders so that everything has its place.

3. Set Up a Homework Station

A dedicated homework station can make after-school study sessions more productive and enjoyable. Choose a quiet spot in your home where your child can focus without distractions. Stock the area with necessary supplies like pencils, paper, and a calculator. Adding a comfy chair and good lighting will create an inviting space that encourages learning.

4. Plan Ahead with Meal Prep

Mornings can be hectic, but with a little planning, you can make them run smoothly. Consider setting up a meal prep station in your kitchen where you can organize lunch supplies and snacks for the week. Prepare as much as possible the night before, so mornings are all about grabbing and going. This not only saves time but also ensures your kids have healthy, balanced meals to power through the day.

5. Involve the Kids

Getting your kids involved in the organization process can make it more fun and teach them valuable skills. Let them choose their supplies, label their bins, and organize their study spaces. This gives them a sense of ownership and responsibility, making them more likely to keep their areas tidy throughout the school year.

 

With these tips, you’ll be ready to tackle the new school year with confidence. An organized home sets the stage for success, allowing your family to focus on what really matters: learning, growing, and making memories. Here’s to a fantastic school year ahead!

 

 

Posted in Heart of the home
Aug. 21, 2024

Catching Up on Real Estate News August 2024

Written by Kelsey Lane

Let's start with a few statistics and then we'll get to the bigger news.

  • The second quarter 2024 closed out with only 14% of California's homebuyers being able to purchase a median-priced existing single family house in the state. (First quarter end was 17%) To put this in perspective, at the end of 2012 the home buying affordability percentage was 56 percent.
  • Currently more than half of the homeowners in California have a fixed-rate loan with a rate of 4% or lower. Current thought is that this environment helps to stave off a wave of foreclosures.
  • There is talk of the fed lowering rates in September. The industry is holding its breath.
  • Construction activity since the pandemic has resulted in lower rents. This boom saw more multifamily units come to completion in June 2024 than in any month going back 50 years. Median asking rent prices fell for the first time since 2020 in July, but they're still high.
  • Refinance demand is currently at the highest level it has been for two years. The average rate of a 30 year conventional loan is 6.88 percent.
  • The median home price in the San Jose metro area has exceeded 2 Million, a first for any metro area.

Perhaps the biggest news in the real estate industry these days is the implementation of the verdict that came out of the National Association of Realtors settlement concerning Realtors' commissions. Even though commissions have always been negotiable, it was felt that Realtors were not expressing the negotiable nature of commissions accurately or clearly, as well as some commission structures lacking transparency. As a result, commissions offered for buyers' agents will no longer be advertised on the back end of any MLS system nationwide. Sellers will still be able to offer a commission to buyer's agents, and buyers will also be deciding what commission to pay their agents. I need to add some of my own interpretation to the mix - since every property and house is different, it's likely that the commission scenario will look different in each case for a matter of months and possibly years until a new system emerges. Commensurately, agents will also have their own ability to decide whether they want to take on the transactions depending on the commission climate of the particular deal.

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Kelsey Lane has been a Realtor in the Silicon Valley since 2003 and is a Master Certified Negotiation Expert through the Real Estate Negotiation Institute, specializing in listings. She is also coaching certified through the Life Purpose Institute and approaches her real estate business through the eyes of a life coach. Cal-DRE #01390557 

Posted in Market Updates
June 27, 2024

Selling a Manufactured Home in California

Written by Kelsey Lane
Years ago I had an estate attorney ask me if I'd be willing to list a $50,000 mobile home in the East Bay Area in California. One of his clients had passed away, and their heir who lived in Minnesota was needing a Bay Area Realtor and even more than that, a liaison on the ground who could help with errands concerning the sale. In addition to a heavy piano that needed to be removed from the premises, a considerable amount of cleaner, primer and paint needed to be applied to interior walls to rid of smoking stains.
Some of these pre-market activities are similar to what we'd implement prior to going on the MLS with a single family home, but contrary to what many people believe, the transactions themselves are extremely different. That sale began my journey of learning the ins and outs of manufactured home sales, which is one pillar of my real estate business. Even yesterday I took another class on mobile home selling and thought I'd share some of the different nuances in case it can help you if you're in the process of selling a mobile home or know someone who is:
  • Rather than being recorded with the county of residence, mobile home transfers are proceed through the HCD (Department of Housing & Community Development)
  • To ensure the smoothest sale, you'll want to provide the following to your Realtor and your escrow officer at the title company: the Certificate of Title, the Registration Card, the Decal Number, and the Serial Number.
  • Only certain escrow companies handle mobile home sales in California. Make sure your Realtor is working with one that not only handles these transactions, but also understands them. Certain companies have gained status for having direct access to HCD representatives which makes the process about 3 to 6 months quicker. These title companies can even help with refinance if needed.
  • If the mobile home is on vacant land as opposed to a manufactured home park, there will need to be a separate escrow opened for the land being sold, as the process for sale and transfer is different.
  • Decal Numbers are imperative to the sale, as they determine how the sales tax from the proceeds will be paid. Without a decal number, the sale will have trouble proceeding.
  • The mobile home park will need to approve of the buyer who is purchasing the unit. In addition, the status of this approval should be regularly communicated by your Realtor to the escrow officer at the title company. Their work on the escrow is specific to one buyer, and they'll need to be privy to cancellations.
  • Several of the fees and documents involved in the transaction are specific to mobile homes. Make sure to ask your Realtor for a full list of what is involved for your mobile home park or situation.
  • At closing, the title transfer is sent to the HCD to officially complete the transfer to the new owner. The Department of Housing will then mail a title registration card within two to four months.
  • Please also note that mobile homes built prior to June 15, 1976 will require special financing or all cash, and can be more difficult for a buyer to obtain a loan. That year, new HUD standards for safety and construction quality were put into place, and lenders followed suit.
If you have additional questions about listing a manufactured home in California, please feel free to call our office or email us and we're happy to help. Each mobile home may have a specific situation for research towards a smooth transaction. A little planning and forethought will pay off, resulting in less stress, reduced time on market, and higher net proceeds.
Posted in Home selling
June 27, 2024

Top 6 Ways to Save Money While Moving

Written by Kelsey Lane
Moving can be an exciting yet pricey endeavor. As a Realtor dedicated to helping clients navigate the complexities of relocation, I understand the importance of saving money during this transition. Whether you're moving across town or across the country, here are six practical tips to help you save money:
  1. Plan Ahead and Declutter: One of the most effective ways to save money during a move is to plan well in advance. Start by decluttering your home. Donate, sell, or discard items you no longer need or use. The fewer items you have to move, especially bulky furniture, the lower your moving costs will be. Consider a garage sale or scheduling for a thrift charity truck to come pick up items and boxes for donation at your home. Additionally, planning early allows you to compare moving companies and find the best rates.
  2. Choose the Right Moving Company: Research moving companies thoroughly before making a decision. Obtain quotes from several reputable movers and compare their services and pricing. Look for companies that offer competitive rates without compromising on quality. Consider options like renting a moving truck and doing the packing yourself if it's more cost-effective. Some moving companies can store your items before delivery if you've not located a new home yet.
  3. Pack Smartly and Use Free Packing Supplies: Packing supplies can quickly add up in cost. To save money, use what you already have, such as suitcases, bins, and bags, to pack your belongings. Additionally, collect free boxes from local stores, supermarkets, or online marketplaces. Save newspapers, flyers, and grocery bags for wrapping material to protect fragile items. Label boxes clearly to make unpacking easier and avoid potential damage to your items. Rather than having the moving company pack for you, hire someone you know (or their teenage kids!) to help work alongside you to pack and label.
  4. Time Your Move Wisely: The timing of your move can significantly impact costs. If possible, avoid moving during peak seasons (typically summer) and weekends when moving companies are busiest and rates are higher. Opt for mid-week or off-peak times to secure better deals. Flexibility with your moving date can save you money in unexpected ways.
  5. Handle Utilities and Services Efficiently: Coordinate with utility companies to schedule the disconnection of services at your old home and the connection at your new one. Avoid overlapping billing periods by notifying providers in advance. Consider bundling services or exploring new service provider deals available in your new location to potentially save on monthly expenses.
  6. Maximize Tax Deductions and Reimbursements: Moving expenses can sometimes be tax-deductible, especially if you are relocating for work. Keep detailed records of your moving expenses, including receipts and contracts, to potentially claim deductions when filing your taxes. Consult with a tax professional to understand eligibility and ensure you maximize any available reimbursements.
By implementing these practical strategies, you can streamline your move and save money along the way. Moving doesn't have to break the bank when approached with careful planning and resourcefulness. As your Realtor, I'm here to support you through every step of your relocation journey, ensuring a smooth and cost-effective transition to your new home.
June 27, 2024

Summer Home Maintenance: 5 Essential Tips

 

Ah, summer! The season of barbecues, beach trips, and backyard parties. While you're enjoying the sunny days and long warm nights, it's also the perfect time to give your home a little TLC. Here are some straightforward tips to keep your home in top shape this summer:

1. Inspect Roof and Gutters

Your roof is your home's first line of defense against the elements. Take a close look for any missing or damaged shingles and get them repaired as soon as possible to prevent leaks. Clean out your gutters to ensure they can handle summer storms. Clogged gutters can lead to water damage and even foundation problems, so this is a crucial step in maintaining your home.

2. Service the Air Conditioner

A well-functioning air conditioner is a summer essential. Schedule a professional service to ensure your AC is running efficiently. Regularly replace or clean the filters to maintain good air quality and keep your home cool. Proper maintenance not only enhances comfort but also helps in reducing energy costs, making it a win-win situation.

3. Check Windows and Doors

Inspect the seals around your windows and doors for any drafts or worn-out weatherstripping. Replacing these seals can keep the cool air in and the bugs out, which is particularly important during the hot summer months. This simple fix can significantly improve your home’s energy efficiency, leading to lower utility bills and a more comfortable living environment.

4. Maintain Your Yard

A well-maintained yard not only looks great but also adds to your home's curb appeal. Regularly mow the lawn, trim overgrown bushes, and remove any weeds. Be vigilant about checking for signs of pests, and take preventive measures if needed. Water your plants early in the morning or late in the evening to conserve water and ensure they stay healthy and vibrant.

5. Clean Deck and Patio

Your outdoor spaces are perfect for summer entertaining, so give them some attention. Sweep away debris, clean the surfaces thoroughly, and check for any loose boards or nails that might pose a hazard. Consider applying a fresh coat of sealant or paint to protect your deck and keep it looking great. This not only enhances the appearance but also extends the life of your outdoor structures.

 

By following these simple summer home maintenance tips, you'll ensure your home remains a comfortable and safe haven all season long. 

Posted in Heart of the home
April 30, 2024

Hardwood Floor Maintenance Tips

 

Everyone loves a shiny hardwood floor, but there are a variety of daily activities that can cause wear and tear, such as moisture imbalances, pet claws, and common foot traffic. To keep that attractive sheen you love, it’s incredibly important to keep up regular, proper maintenance.

 

  • Wood has a tendency to expand and shrink depending on the moisture level, so if there are high levels of humidity in your home or your hardwood floors are consistently getting wet, they could be at risk for cupping which makes the sides of your flooring higher than the center. In order to prevent moisture imbalances, make sure to clean any spills immediately and keep your home’s temperature set between 60 and 80 degrees Fahrenheit.

 

  • The color of your hardwood floors can also be compromised by pets or shoes. Dust and dirt can settle in the gaps or grain of your hardwood floor, which makes timely cleaning a necessity. It is recommended to dust or sweep daily and vacuum weekly to mitigate grime’s effect on your floors. It is also a good idea to refinish your hardwood floors every three to five years to counter gradual dirt build-up.

 

  • Most hardwood floors have a protective coating to prevent scratches, but you can take some of the pressure off your floor by using furniture pads for your chairs, tables, and couches. If you have any pets, you should also make a habit of trimming their nails to protect your floor’s integrity. Finally, make sure your hardwood floors will last by using hardwood floor cleaner once a month.
April 24, 2024

Recent Real Estate Updates

 

For the second month in a row, the number of homes just listed for sale California-wide has gone up. About half of the listings are selling for above the list price. Average sales prices are also still slightly on the rise with a 6% gain since last year during the same timeframe. Days on market is down from the same time period last year. Demand is still exceeding supply, and many are concerned that high-income earners are driving up the prices of homes with fewer residents able to afford a median-priced property.

Next week a group of California legislators will meet in the Capitol regarding the housing shortage and also housing affordability. Any regulatory barriers that stand in the way of housing development will also be discussed.

This summer the largest insurer in California State Farm will be dropping an estimated 30,000 policies. Is yours one of them? The Chronicle has provided a lookup function so you can check your address. Most of the addresses to be dropped are in Contra Costa County, the Santa Cruz Mountains, and Sonoma and Los Angeles Counties. (Please see below at the end of the article for the lookup link)

Mortgage rates for a 30-year rose to around 7.5%, which is the highest we've seen since November 2023. This is up from the mid 6% level that we saw in January. Rate drops are not projected to happen until the latter part of the year, if at all. Surprisingly, mortgage applications for home purchasing still rose 5% compared to a week ago.

 

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Written by Kelsey Lane

Sources: CNBC, MSN, Newsweek, San Francisco Chronicle, California Association of Realtors

Link for looking up insurance non-renewals: https://www.sfchronicle.com/projects/2024/ca-statefarm-nonrenewal-map/

March 14, 2024

10 Tips for Successful Spring Decluttering

Written by Alisha Pangburn

 

As a professional organizer, I know that decluttering and getting organized can seem daunting, especially if you need help knowing where to begin. With the arrival of Spring upon us, it's the perfect time to give your home a fresh start. But, how do you get started with Spring Decluttering?

Here are 10 Tips for getting decluttered and organized:

1. Plan & Prioritize:

Before you begin decluttering, decide what areas you want to tackle. Create a list of tasks and prioritize them so you can stay organized and on track.  

2. Divide & Conquer: 

If you have limited time blocks to work on Spring Decluttering, break large tasks into smaller ones. For example, instead of tackling your entire closet, start with one shelf, one drawer, or one type of clothing. Bottom line: getting something done is better than getting nothing done. Just dive in and get started!

3. Prepare for Letting Go: 

Before you begin, grab a trash bag, recycle bag, shred box, and donate box. Donate, recycle, or sell unwanted items. Try to be ruthless when deciding what to keep and what to let go of. Let go of duplicates and worn-out items. Keep the things you use the most and that add value to your life today. Donate items in good condition to charity or sell them online to make some extra cash. Recycle as much as possible. (see your local city guidelines for recycling). Trash is the last resort.

4. Clean as you Go:  

As you’re emptying drawers, shelves, and cabinets, grab your cleaning supplies, wipe everything down, and make it sparkling clean before putting things away. It’s not often cabinets and shelves are emptied, so take advantage of it.

5. Use Storage Solutions: 

Invest in storage solutions like shelves, containers, and drawer dividers to keep your items organized and contained. Using a container will assign a home and a defined space for all your stuff, making it much easier to put things away. If you don’t have a big budget, try visiting your local Dollar Store or using shoe and Amazon boxes as containers.

6. Use Vertical Space: 

Don’t forget about the vertical space! You can maximize storage by using wall shelving, hanging organizers, hooks, etc.

7. Label everything: 

Labeling your storage containers and shelves can help you stay organized and make it easier to find what you need. Not only will labeling remind YOU of where everything goes, but it will remind EVERYONE ELSE, too.

8. Don’t Go it Alone: 

If you’re overwhelmed and find it difficult to get started, consider phoning a friend, getting the whole family involved, or hiring a professional. Working with someone else, sharing some laughs, and having an extra set of hands will be more productive and fun.

9. Breaks & Rewards: 

It can’t be all work and no play! Make sure to take breaks and reward yourself. Sit and relax for a few minutes, get a snack, drink water, or take a walk. Plan a pizza night or something fun with your family or friend helpers as a reward for a job well done.

10. Create a Routine: 

After you're done Spring Decluttering, set aside time each week to clean and organize your home. This will help you maintain your efforts and prevent clutter from piling up again. Developing good habits and consistency is key.

 

Need Help with Spring Decluttering?  I offer a complimentary phone consultation to discuss your organizing needs and see if we are a good match. Let's Connect Today! 

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Alisha Pangburn, owner of Sort Your Nest is a professional organizer in the Greater Silicon Valley, CA. She helps clients get unstuck and get started on their organization journey. She believes if you "organize your space, you can transform your life." Alisha is a proud member of the National Association of Productivity and Organizing Professionals (NAPO), serving on the Education committee and a member of the Women's Networking Alliance (WNA), serving as the President of her chapter. She is a lover of dogs, people, fitness.... and coffee!!

 

Posted in Heart of the home
March 14, 2024

Spring Forward to New Hope in Real Estate

Written by Kelsey Lane

As the rain will start to ease up, we're seeing some new movement in the real estate world as well.

Here are a few real estate news items to keep you updated:

Listing inventory is up about 13% compared to same time period last year. This is the largest increase in about three years. Also, slightly more sellers than average have done a price decrease. If you're thinking of selling your home, these slight signs are an indicator that inventory may be continuing to climb, which may signal that now is a good time to get a higher price than when the market is more saturated.

Even though new purchase mortgages are 8% down from a year ago, current and recent loan demand is up 11%. Conforming rates are still around 7% give or take.

The California Housing Financing Authority (CalHFA) announced a new round of funds available for the CA Dream for All program. While the last round was gone in 11 days, this round is expected to last a bit longer due to a new rule: the parents of the homebuyers must not have owned property within the United States. According to Eric Johnson from CalHFA the program is designed for "those who may not have had the benefit of generational wealth."

If you're selling a home in California, you may find the following statistic interesting. While in the past it was believed that "location location location" was all that mattered, a new survey shows otherwise. Coldwell Banker conducted a survey of 4213 people age 18 and over, and 56% revealed that price is their number one consideration.

If you're curious about the home selling process and have questions, feel free to reach out to us and we're happy to help with information.

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Sources: KQED, Redfin, California Association of Realtors, CNBC, Coldwell Banker

Feb. 12, 2024

Current real estate news - Most Frequently Asked Real Estate Questions

One of the most frequent real estate questions we get recently is what the market is doing in light of interest rates. Everyone who has their eyes on residential real estate is hyper sensitive to rates, the job market, inflation, and what the future holds. And for good reason.
Here are some of the current stats for what is actually happening. Average mortgage interest rates are in the high six percent range. New mortgage applications are remaining fairly constant but there was an uptick in refinance activity compared to last week. There is quite a bit of conjecture surrounding how many fed rate cuts there will be this year. In December, the Fed predicted about three rate cuts to occur during 2024, but then in an interview with 60 Minutes Chairman Powell divulged that not much would be happening soon, citing a March rate cut unlikely. Some experts believe there may be up to five or six rate cuts by the end of the year.
Meanwhile, believe it or not median sales prices are up 5.4% since last year at the same time. New listings are up by about 7 percent, but pending home sales saw a pretty large decline of 8 percent over last month. Another metric that measures home tour activity shows that tours are 6% busier from January to now compared to last year during the same timeframe. Warmer weather is predicted to increase both pendings and tour activity.
Housing affordability dropped to 15% of households qualifying to purchase the median-priced California home of $833,170. This is down from 17% a year ago. To put this in perspective, in 2012 during the first quarter, the affordability index was 56%.
Sources for the above: CNBC, HousingWire, Redfin & California Association of Realtors.
If you're currently thinking of selling your home, you likely have quite a few questions. Once the rain is behind us, the home selling process is fairly straightforward. Clients who are planning to sell soon are not basing their decisions on market rates and stats - the beginning of 2024 will see more real estate moves and decisions being made based on family and lifestyle decisions. If you have any real estate goals you'd like to discuss, we're happy to help you talk through them to make the decision that is right for you & give you a more thorough picture of the home selling process.
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Kelsey Lane has been a Realtor in the Silicon Valley since 2003 and is a Master Certified Negotiation Expert through the Real Estate Negotiation Institute, specializing in listings. She is also coaching certified through the Life Purpose Institute and approaches her real estate business through the eyes of a life coach. Cal-DRE #01390557