Compass agrees to pay $57.5 million | How To Create Year-Round Home Curb Appeal (Luxury home of the week)

 


Compass agrees to pay $57.5 million | How To Create Year-Round Home Curb Appeal (Luxury home of the week)

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Welcome to Luxury Home of the Week!

 And luxury home of the week. Let's get moving here. 

Exploring Willow Glen's Stunning Properties


We're going to start with Willow Glen home of the week. This is 1424 Cherry Ave, six bedroom, five bath for the low price of 3. 9 million. It's a brand-new house. What people are doing is they're buying older homes, tearing them down, and putting these little McMansions on. And they've been doing this for 25, 30 years now. And it's become, an amazing little business because this company that does this does a fantastic job.

They take over the entire thing. They show you what the product is going to look like and they take care of it. It's costly. But it gets done and you can make a good profit off of it. That's why these houses are selling for one and a half, 2 million. They're old and decrepit. And then they put another million dollars or so into this.

And then they look at this thing right here, right? 3, 700 square feet, almost 3, 800 square feet. Look at the very small lot, but look how close you are to downtown. You're walking distance and you get a brand new house and it's been on the market for 32 days and yeah, there you go. So this is a beautiful house guys. I think this looks familiar, but it's, yeah, I think we looked at this one already before the great thing about this is it's very intricate. There are details upon details in this house and they're all fresh and new and what is being sold all across the country today.

The grays, the natural wood herringbone tile on the floor. It's all very beautiful, right? Very well manicured, and meticulous. And you're in Willow Glen. 

Diving Into the World of Luxury Homes

Luxury home of the week. This one is only 15, 000, almost 16, 000 square feet, with six bedrooms, and six full baths. Oh, four half baths.

And on two acres of land, this thing is gargantuan. So there's an ADU or a guest house, maybe two. Yeah, down below, but there's the main house right there. You drive up for the car garage and infinity pool, and then there's your guest house right there. Just amazing, right? It's a gorgeous house. Cayoyou you can imagine this being in a drug lord's might?

Okay. So I have to hurry up and come and become a billionaire so I can buy this. That's crazy. It's a beautiful house. 23. 5 million. All right. 

Mastering Year-Round Curb Appeal

How to create year-round curb appeal. Now, I gotta say that this whole topic is weak because it's overplayed. A lot of people talk about it all the time, but how to create year-round home appeal.

And this came from Realty Times, when you go to put your house for sale, it's either up to you to do it or have your agent do it. And they'll take a project manager or their landscaper and fix stuff up. You want to make your house look beautiful, and inviting, because in the first three to five seconds is when the buyer is going to make a decision whether or not they like the house.

I've been in cars with. Before and we drove by a house and they say, Nope, pass because it just looks like crap. It looks like they haven't done anything to it. They're like, whatever. They don't care about it. It's probably a whole lot of other issues inside, right? So clean it up, make it look pretty, put some architectural designs around it, and make it look like you thought out the process, right?

And yeah, put some color in there. Planting for seasonal color is always helpful. If you're at Christmas time, you want to make it look. If you're in the summer or spring, you want to put flowers, calla lilies, and plant things that come back year after year. And your maintenance will be a lot lower.

Yes. You want to make sure that you have trees around your house, right? I love trees. The trees are great. A Chinese Elm. Tree. It was gorgeous. We had the first year. We're there. We had a massive windstorm and it started tipping over. So I had to take it out. And ever since then, I miss it because blocks the evening sun and the house and it gives three dimensions to your house, right?

Makes your house look beautiful. Bigger, more inviting, as long as it's well-kept. Hardscaping, absolutely. You want to have pathways to the door. Driveways for the front yard and the back yard. Hardscaping is important, but it also has to bring in the nature.

Bring in the green and the colors, too. Tackle problem areas. Make sure that your downspouts are pouring out five to six feet away from your house. So it keeps the foundation from eroding. It's a big problem. People don't know about it. And then they sell their house and become somebody else's problem.

OPP other people's problems. There are cracks, there's broken windows, there's cobwebs, there's chips, paint chips, et cetera. Fix them up, do it once in a while, once every year, you could look at your paint, and make sure it doesn't have any major cracks going on, or it has any chips, take care of that right away.

Cause then you'll have, you prevent wood rot I have a door to the backyard, to the side yard, and that whole door casing needs to be fixed because I don't take care of it. And it's where you get a ton of sun all day long and the wood just peels and chips.

So I have to go back and paint it, which I will. House appeal. Absolutely. Your house has to look pretty, has to look inviting. Again, talked about a curb appeal all the way around. If you do it consistently while you're there, it's just like exercise, just like dieting, just like mindset, just your spiritual meditation or what have you.

If you do it consistently, it's not a problem. There's no major overhaul that you have to do unless you want to do a complete redesign. So there you go. 

Navigating Real Estate Commission Laws with Compass
Compass agrees to pay 57. 5 million dollars to make policy changes to settle real estate commission laws. I work for Compass. I can tell you that nobody ever forced me to require a commission on any of my sellers. This is just the way things have gone through the years. And we always say, even on the form commissions are negotiable, right? It's up to the agent to decide how low they're willing to go.

And if they decide that they're going to go with them, that's on the seller, right? They can go with a 1 percent guy. They can go with a full-service guy. They can go with a luxury guy. They can go with a fly-by-night guy. They can go with their Aunt Betty. It doesn't matter. Each one of them has a certain pricing structure or a tiered commission structure that they offer.

Okay. So this, again, is a money grab from the case class action lawsuits. When you think about it, every plaintiff in this, if there's a hundred thousand or 200, 000, gets a very small stipend of the winnings. It's the lawyers that make a bunch of money. I have no problem with that. As a matter of fact, I think they should disclose how much they're going to make in that 57 million.

0. And it's not just Compass is Kellyer Williams, Remax settled century 21. I'm with Real, which is it's a virtual brokerage. That's all across the United States. 

The compliance, the legal. I have a broker and a lawyer that I can talk to for anything to make sure that we do the right thing for our clients and that we're doing it ethically and legally. So that's why I'm with Real, even though I'm a broker, I just feel it's better for me to let them manage that and have an entire process plus it protects me a little bit and my clients.

So again, don't think it's just a compass. Brokerages are going to get hit like this. It's not a big deal. These are just land money grabs. As I positioned myself, always commissions are negotiable. I always say you don't have to pay them anything.

You have to pay them at least a dollar. You used to be a dollar, but if you want your house sold, you should be anywhere between two and 3%, two and a half percent. It's a happy medium. And that's typically where you're going to get your house sold because you're bringing in you're attracting buyers.

With the buyer agent to represent them. Now things are going to change, but they're not going to change because instead of offering a commission, you're offering a concession semantics, right? And some sellers will get away with having to sell, and offer a buyer's commission. Let's say that there were 30 offers on the table and one buyer's agent came in and said, my buyer's paying me my commission.

Here you go. There's no commission. There's no offer of commission for the buyer's side. You don't have to pay us. And we have the highest and best offer price terms, closing, et cetera, right? But what's going to happen is that will lend itself to a rumination of buyer's agents that are fly by night.

They're just in it for a quick hit. And then they leave and they leave the listing agent having to take care of everything so that the timelines are messed up. The sellers are stressed out and the buyer's agents nowhere to be found. So the seller's agent has to go out and make sure everything gets done.

So there's a lot of wiggle room that's around there. And that's just part of the process. We're going to figure it out. These lawsuits are good because of change, but a lot of it is the same. 

Market Snapshot and Personal Anecdotes

12 Bay Area County Report

Let's talk about snapshots. Nothing really is happening. They were off on vacation. So I was spending time with them and I just felt that I was going to take a day off. So there you go. And I bet you didn't even miss me. So in the last two weeks, we had about 200 new listings. Our new sales that happened in actually 300 in Alameda County, but in Santa Clara County, we've had 400 360. Our volume is 500 million years to date. It costs 7 billion here. Oh, that's right. Look at that. That's crazy. They're doing amazing. Santa Clara is just doing amazing. It's one of the, it's the highest volume sales County and it's the One of the highest average sales price counties, right? Now San Mateo is going skyrocketing.

San Francisco's back up and Marin is back up. So if you're looking for places to move that are going to increase in massive amounts of equity. Santa Clara County, San Mateo County, and Moraine County. Those are the areas that you want to be at where you want to get a great deal. Napa on average is 43 days.

You can go and get a great deal. And I can tell you that if you're looking at a one-and-a-half-million-dollar. You can probably offer 20 percent and negotiate back and forth and you probably bracket about 10 percent

off that's 150, 000 off.

A Proud Dad Moment: Negotiation Skills in Action

So one last story, and I want to tell you this because I'm very proud of my daughter, even though she totaled my car, I still have my truck. , we had a 2008 Honda Pilot and it was the family car. We went everywhere with it. We've been to six or seven States. Been up to Portland many times. We went up to.

British Columbia with it. And it was just a great car. And later on, it got older and my son used it. And since then it's been falling apart and he's put a dent scratch or something on every panel inside outside of the car which, it's an older car, it, but it's a Honda and it lasts forever and it was going great.

The engine was amazing. The transmission was amazing. But it's, it's just older. It was just a great car. And then my daughter got her license and she started driving it. And She wasn't paying attention. She hit somebody, she rear-ended somebody, and that's why we have insurance and are just grateful that nobody ever got hurt.

She felt that she still felt bad. I feel bad for her. And she's always been a very responsible kid. So I know she was just not paying attention and that's why insurance is more expensive for kids, right? It is. So we started looking for another car and we rewarded her, which is crazy.

It's silly when you think about it, but she got rewarded for crashing my car or totally my car. She wound up getting a little VW convertible. And I was into it because I'm actually looking for a convertible myself, an old clunker fart around the car just because I want to fart around. And instead of driving 16, 14, or 15 miles to the gallon, I want something that's a little more gas-effective.

Anyway, we got her a convertible and we went up to Sacramento and we looked at two cars. One of them was just a beater. You would have had to put another five or 6, 000 into it just to get it, whatever. The engine wasn't right. Transmission needed work. Every panel had a ding on it. It had eight owners, right? It was just crazy. And then we went to this other one and it was a dealer, not a major dealer. And they actually focus on VW Beetles. This one happened to be convertible and we test-drove it and she loved it.

It was great. And then we went down a couple of days later, we went to Newark and we looked at another one, exact same cards, a couple of years older, blue convertible. And that one was beat up and much less. So this one started at nine, the one in Santa Clara was 9, 700, and the other ones were a lot less like 4, 000 and the other one was like 6, 000 or something like that. So we went up to the guy and I'm driving from. Newark back down to San Jose thinking, Hey, we might as we definitely want the one in Sacramento. She starts texting the guy, right? He's I really like it, but can't afford 97.

We got him down. We got 2, 000 off. I got her to negotiate and she did all the footwork, right? I was coaching her, but she negotiated. 20 percent off of a car. So I'm really proud of her. And I just want to take that time. Anyway, today we talked about Willow Glen house of the week, luxury house of the week, and how to create year-round curb appeal.

Compass is paying 57 million crazy and a 12 County snapshot. And we also talked about my daughter getting a new convertible for totaling my car. I'm Vito with Abitano.

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


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