Thinking of Buying an Older Home? Here Are Some Things to Keep in Mind

 




Thinking of Buying an Older Home? Here Are Some Things to Keep in Mind 

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Santa Clara County Highs and Lows 

Los Gatos Home of the Week 

Santa Clara County Price Reductions 

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Introduction: Buying a New Home
Think about buying a new home. Here are some things you need to keep in mind if you are going to buy a new home in five to 10, 15 years. 




Home Maintenance Essentials

Just keep in mind that houses are like boats. They require a lot of maintenance, 

Every year. You have to do something to the house. Something will fail. There are a lot of different systems in a house. Even if it's a townhouse, stuff fails; cabinet magnets will not work. The shower rollers will go out of alignment or get loose, or the closet door will fall off the hinge.

And these are just the few things that I worked on this weekend. My house, it's maintenance stuff. Foundation and structural issues. Yes, absolutely. That's why we tell you to get a home inspection if you're looking at a house with foundational issues, something to look into.

Now we have a property inspector, and if they recommend, hey, some serious issues are going on down there in the foundation, you should have a foundation guy go look at it. Yes, we will do that for you because we want to disclose everything and scare the wrong buyers away. I always say it is smart to get inspections done ahead of time because you're disclosing everything wrong with the house.

No house is perfect. No house is perfectly level. The walls aren't gonna be square or plumb. There's gonna be foundation issues over time, when it gets wet, the soil. Expandss. And when it dries out, the soil contracts, which means your foundation's going to go like this.

And over time, that could create issues. If your house doesn't have gutters, if it doesn't drain out at least six feet away from the foundation, you could have foundational issues. New houses are designed to protect you from that. For the most part. It's not a hundred percent guaranteed.

Electrical and Plumbing Issues

Electrical and plumbing issues. Old electrical sockets and switches can go bad. You might have to rewire some stuff, and that's part of living in an older home. That's why those HGTV shows are so popular, because people tend to not maintain their houses. Same thing with plumbing. You have to keep your plumbing clean, right? Especially if you have teenage girls, you have hair issues in the drain. 

Hazardous Materials in Older Homes

Hazmat, absolutely. Over time, you're gonna have stuff that will be considered hazardous material, including paint.

Turpentine stuff from way back before, right? There's gonna be lead and paint found in, before 1978, all sorts of stuff. Even the popcorn, if it was built before, I don't know, 1978, it had a pretty good chance of having asbestos. Now that's why you see houses with textured ceilings.

Radon isn't really. Found here in California, it's something you can test for, but we don't have that big of an issue here. It's not a required test or inspection that we do here in California, but yeah, out in the Midwest and on the East Coast, something to think about. 

Heating and Cooling Systems

Outdated heating and cooling systems.

Every HVAC guy gets More money to put in a new system than it does to maintain an old system. Old systems are built to last for a long time. I would say forever, but that's a bad word, especially when you're living in a litigious society. You can limp an old system along for a very long time.

The problem with the new stuff is that it's not designed to last for a very long time. So you bring in a new HVAC system, you pay $15,000 for it, and it's going to last seven to 10 years. The old systems last 30, 40, 50 years. You can limp it along, so just remember that. It's the same thing with the appliances today.

Don't get me started with the appliances, dysfunctional alarms. In California, you can't sell a house unless the inspector and the appraiser confirm that the alarms are working. Carbon monoxide and smoke detectors are required in every house during a transfer and a refinance. 

Termites and Bugs

Termites and bugs. Yes. California has two types of houses. Houses with termites and houses that just got tented. Your house will have termites. They're built out of wood. Termites like wood. Unless you have a completely all-steel house, you're gonna have termites and bugs.

And when you have teenagers, you're gonna have messy rooms. Messy rooms create dust and dust, bringing dust mites and dust mites, which invite spiders. You're gonna have bugs. Keep a tidy house, maintain it, et cetera.

And that's why we do home inspections before we put the house on the market to disclose to everybody what's wrong with the house. No house is perfect, right? My job is to market it, but also to protect you as a seller and to disclose everything to the buyer , highs and lows. I actually have the highs and lows here for you. The most expensive house sold today was $9.3 million on Harker Avenue in Palo Alto. It's a beautiful house. Very old style. Nicely updated kitchen. Worth every penny, right? Let's go back to the next one. This is the lowest sold house right along the freeway, 126 days, and it was a hundred thousand dollars off the list price.

And there you go. Sycamore Drive has the highest list price to sales price ratio. Palo Alto, they listed at 3 million on the list. It sold for 3.63. Bedroom, two bath, 1400 square feet, and that's it. Built in 1952. This is nice and pretty and updated. They were smart.

They attracted the market. If you drop your price and attract the market, your house will sell fast. This sold in seven days. And then the lowest sold ts the lowest list price sold sales price. 74% of the list price listed originally at 1.148 took 34 days to sell, and it sold because they needed to sell it.

The negative thing is it's right against the freeway. All right. It was an amazing weekend. Probably didn't even think twice about getting air conditioning, but now is the time to get air conditioning because the HVAC guys are slow. They're willing to work with you on pricing. This is the best time to do it. You can get it done pretty quick when it's hot, when it's 130 degrees out and your air conditioning fails.

I'm telling you, they're gonna take two or three weeks to get to you because they're busy and they're gonna charge you a premium price to get you in the queue. How's this sell for more if you have air conditioning? It's a known thing. All right. 





Los Gatos House of the Week
Los Gatos House of the Week is not my listing, but rather one on Shannon Road.

Almost $5 million. Five bedroom, four and a half bath, 5,000 square feet, built in 2008. It's nice, Tuscan Italian. Look and feel all the way tthroughlittle nook and cranny, including the tiles, which you might consider dated, but that's the look and feel. That's a nice-looking room. I like that chandelier. There you go. And then highs and lows are right here. I also want to make a note that I did not do Monday yesterday, so I want to show you that our numbers are still going. Houses are still selling. It takes about 16 days to sell a house in Santa Clara County.


If you're in Boston Valley, it takes 14 days to sell. Nothing's changing super fast or crazy. There are no major stalls, and we're still creeping up. Prices did contract just a little bit over the last week, but overall, on average, we're doing really well for home sales prices, and attracting the right market.

When you're smart, there are still houses that sell for under list price because people overprice them for the area or the location. IE that one that sold here off the freeway. If it's right on the freeway, guys, you gotta bring it in, right? Whoever bought this got a great deal, so there you go.

I'm Vito with Abano. Thanks for watching. We'll see you out there. 


🔴  5 Cities Near San Jose | Moving to San Jose https://youtu.be/sDkdDq42vo8?t=46  

🔴 The Five Biggest Turn-Offs For Homeowners https://youtube.com/shorts/lwknH5DCS5c 

Vito Scarnecchia

Real Estate Broker, Veteran, Dad

DRE#: 01407676

408-705-6817

Vito@abitano.com

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