Should I get a home inspection BEFORE I sell my house?
Should I get a home inspection BEFORE I sell my house?
Introduction: The Importance of Home Inspections
Should I get a home inspection before I sell my house? The answer is yes, but we'll go into it in a minute. We'll also talk about Willow Glen House of the Week, the Luxury Home of the Week, and the 12 County Bay area housing report.
Spotlight: Willow Glen House of the Week
Willow Glen house of the week. The reason why I picked it first and foremost, it is really close to Lincoln Ave, the main street. It's within walking distance. You can walk there and crawl back. Four bedrooms, four full baths, 2, 500 square feet, built in 1947, but it's completely rebuilt. Look at this thing. This thing's gorgeous.
Worth every penny. I know. It's crazy because now we're looking at houses that are over $2 million on average. I just looked at some houses over at a place called Meadowlands yesterday, and it's crazy. Prices are just. They're not going to get any cheaper guys. The best place to live for the least expensive amount of money is where I live.
Blossom Valley. It's not the most expensive and you'll find it really hard to find houses over 2 million here. That's the great part. The problem is we're so far away from technology and from all the big businesses that you have to commute. It's a thing I'm working with buyers. They are looking for houses here in Blossom Valley because they don't want to spend 2 million.
They don't want to look at houses over there. We're selling their condo and we're moving them to a house over here. And in San Jose, anything over 2 million, you have to deal with measure E.
And you can look at my video about that. All right. 2. 8888 million dollars was listed 18 days ago. And guys, this is a great opportunity.
Exploring the Luxury Home Market
Luxury home of the week, Elena Avenue. These are not my listings, by the way. This one's five bedrooms, four baths, three half baths, one and a half acres, and a measly 12, 000 square feet. And I saw, I think it's 26, 000 square feet. One is getting up there. They're half the size. There are houses that big A little bit nicer though, too. So 33 million dollars Measly 33 million because we just pull out the pocketbook at this point, my checkbook. I'll write a check. Once it clears, they can let me know.
I'll move in. Beautiful house. Everything about this house. Guys, this is,
they have this little thing right here. It looks like it's a TV that comes down. Let's see if that's true.
Homebuyers' Checklist: A Must-Have Tool
FREE HOME BUYER CHECKLIST HERE
This episode is brought to you by Aida and this homebuyer's checklist. So this homebuyers checklist if you're looking at houses, download this checklist, it helps you walk through houses, and you can go through each room and make a quick check of what you like, and what you don't like about each room.
It gives you a mental memory stick of What you like about each house and what's, what needs to be worked on, and what's in perfect condition. So it's a great little checklist. I created it and my buyers are using it right now.
Deep Dive: Why Home Inspections are Crucial
Should you get a home inspection before you sell your house?
Yes. For a couple of reasons. The first reason is you want to make sure that. The house is in decent condition. No house is perfect. No house is perfectly level. The floors will never be perfectly level. The walls will never be perfectly square or plum. But there are maintenance issues that arise. There could be issues with the dishwasher that you don't know the refrigerator appliances and electrical plumbing.
It's good to know what you're dealing with because if you don't get a home inspection, and even if you say this is as is the buyer has the right and duty to go and get it. Investigate that house that they're buying. They're allowed to go and look at what is wrong with the house and not just a home inspection.
You want to get a pest inspection and a roof inspection. If you have a pool, do a pool inspection. If you have issues with the foundation, get the foundation inspection. That way, you're spending about 1, 000 in inspections, but they're not coming back to you and saying, Hey, guess what? We did the termite inspection and a pest inspection.
It's going to cost 30, 000. So would you rather spend a thousand dollars up front or would you rather spend 30, 000 at the back end? Totally up to you. I never forced the issue, but if you're going to be cheap, you're going to get hit with it. Understand that you want to uncover every issue possible because it's real estate.
That has to be a completely transparent transaction. Everything about it, including commission now has to be transparent. The buyer and seller all have to know as well as the lender. The agents all have to be involved and see every step of the way, every issue that could possibly be wrong with the house.
We have to know about it because what can happen is they can come back, the buyer can come back later and say, Hey, you didn't tell me about this. I want X amount of money or what have you. Yes, you're going to save money. Believe it or not, you spend money to make money. This is a business, right? And when you're selling 2 million houses, you want to make sure the transaction goes as smoothly as possible.
Don't cheap out and not stage and not do inspections. Hide stuff from the disclosures, all that stuff. That stuff will come back and bite you in the ass. I can guarantee you that if you do the staging, your house will sell for less than what you can possibly get. And it could be up to 5, 000. But when you're talking about 2 million, would you rather invest 5, 000 and get 100, 000 more or 50, 000 more? It just makes economic sense. If you cheap out and you don't do the staging or you don't do an inspection that will come back to you. And yes, marketability in our area, is expected to come in with an as-is offer, et cetera.
Now I've heard of deals that go through where there are so many people. Trying to buy a house that they don't do inspections. They don't do the staging and it's just a piece of crap house. And they come through and they have 15, 20 offers and they say, you can do your due diligence upfront, but we're not going to give you a penny.
Take it or leave it. If you come back to us and say, I want repairs. I want credit for this. I want this. And that will kick you out of the deal. But when you have one or two offers, you're just not going to be able to play that game. So it's a risk to you. And when we sit down to sell your house, I talk about all these different things that you have to make a choice on.
And I know it gets confusing, but I'm here to guide you. I'm not here to tell you what you should do. I give you options. I give you the best option and I give you the least attainable option. And you make that decision. I'm not going to force you to do it either other way. I'm going to push you toward the right decision, but if you ultimately decide, I don't want to do staging, that's your choice.
I don't want to do inspections. And then you come back to you and say, Oh, there's a 30, 000 credit they're asking for. That's their right to ask for that. So yes, get a home inspection, get a property a pest, get a roof, get a pool, get a foundation. If you need it, all these different things are there to help you.
Provide disclosure so that you don't have to worry about it because unless you're in the trades and you don't know what's wrong with the house, that could come back to bite you. And. I see it happen all the time.
Navigating the Santa Clara County Housing Market
YTD SALES 12 Bay Area Counties
I changed this up a little bit last couple of weeks. I've been just doing the straight numbers.
Now I've added the plus or minus from the week before. So week before we had 215 sales in Santa Clara County. These are single-family homes. They're not condos or townhouses or mobile homes or land or businesses. They're single-family homes. The good news is Yeah. Let me show this to you real quick. Remember I told you that to have a balanced market, we need to be about a thousand San Jose. This is San Jose. Oh, single-family homes. Sorry. 484. So we're still a little bit low on that, but guys were healthy. We had 200 homes sold in Santa Clara County last week.
That's good. We should be about 300, 400 a week, just single-family homes, but that's normal. We have 500 million. Dollars in sales volume last week. The average sales price went up 12, 000 last week.
We're over 2. 2 million on average for Santa Clara County for single-family houses. It went up 0. 10%. 1 10th of a percent list price to sales price ratio is 108%. So if you're buying a brand new house, brand new on the market, like this one's been on the market for 18 days, that's still decent because if you look at average days on the market 16, that's not bad.
That's Santa Clara. Now you have to look down in the nitty gritty. Will it glen a lot less? It's around nine days on the market. So there's something a little bit off on that house. Maybe it's the price can't tell you it's the condition. Cause that thing looks beautiful, but at the same time, why is it not selling?
Maybe price rates went up. I don't know. Maybe there are just too many houses up for sale. I don't know. We'll see the last listings year to date. Is 4, 400 and we had 300 new listings come on the market last week, but we have 215 sales in a week. Yeah, we need to put about 500 more new listings every week to get a balanced market.
And we're not going to have a balanced market until corporations, investors, et cetera, get out of the market, the Airbnbs, et cetera, from mom and pops all the way up to BlackRock and OpenDoor, you need to be able to have a balanced market for prices to stabilize.
And not go up so crazy. I don't know very many people where I live who can afford a 2 million house, let alone a 33 million house. So when that happens, Just realize it's because there's no supply, there's not enough supply. 400 houses for sale right now in Santa Clara County. That's just not enough. We need 2000, about 2000 1800 to 2000 houses for sale in Santa Clara County to be a balanced market. And right now we're hovering about a thousand, I think last week was 1100. So housing in Santa Clara County is really tough right now. If you're going to buy a house in Santa Clara County, we have strategies based on your tolerance level.
And we go through that when we do the buyer's consult that doesn't be afraid to buy a house though, because if you don't, that house could be worth 2. 5 million next year by the end of the year. That's just my thought.
All right.
Conclusion and Resources
Today we talked about Willa Glenn House of the Week and Luxury House of the Week. Should you do a home inspection? And the answer is always yes, but I'm not going to push you. Just going to put it out there. If you're buying a house, download this checklist. It's in my blog right here. Free home buyer's checklist. The link is down below. Go take a look at it and we'll see you tomorrow. I'm Vito with Abano. We'll see you out there.
Vito Scarnecchia Real Estate Broker, Veteran, Dad DRE#: 01407676 408-705-6817 Vito@abitano.com Website: abitano.com https://www.onereal.com/vito-scarnecchia-1 update your home value: https://hmbt.co/bT7qRJ RELOCATION@ABITANO.COM FREE DESKTOP APPRAISAL https://www.propertyrate.com/agent/vitoscarnecchia If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents! Book appointments here: https://calendly.com/abitano/15min Home Buyers Course YT YouTube.com/SanJoseLiving IG https://www.instagram.com/abitanogroup/ FB https://www.facebook.com/vito.scarnecchia/ LI https://www.linkedin.com/in/vito-scarnecchia/ Blog http://blog.abitano.com/ POD https://spotifyanchor-web.app.link/e/oxdH1Hwfcvb Professional Photography by Kim E https://photosbykime.com / Local Real Estate Market and Home Value Report https://hmbt.co/bT7qRJ Financial Intelligence https://docs.google.com/forms/d/e/1FAIpQLSc0R5pjHIAPguZ5GDEB-fTbGJXKpWK3coK9Khymv_GTWkMnyQ/viewform?usp=send_form https://www.onereal.com/vito-scarnecchia-1 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg
Fraud, Homebuyer workshop, Bay Area housing stats, Veteran Home, best time of the year to buy a house, Bay Area Luxury homes, next housing crash prediction, housing market projections, Should I Buy A House Now Or Wait?, should I buy a house now or wait until 2024, Why You'll Regret Buying A House in 2024, Housing Market 2024: 5 Options If You Regret Buying a Home, when will the housing market crash again
Comments
Post a Comment