Alex Lehr - San Carlos, CA Realtor Podcast

3 Crucial Factors to Consider When Home Buying

Alex@Lehrrealestate.com (Alex Lehr) — Thu, 30 Oct 2014 14:31:00 -0700

There are many great San Carlos area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a list of Featured Properties so you know what buyers will pay for your home in today's market. You may also call me at (650) 595-5500 for a FREE home buying or selling consultation to answer any of your real estate questions.

Everyone wants a great deal when looking for a new home. When market prices are anywhere from $500-$1,500 per square foot, you need to take 3 things into consideration:

Price
Configuration
Location

If the price is too high, people will often substitute location - they'll go for a home that's in a favorable area; if they can't find a home that has all the ideal amenities (configuration), they'll buy a home for a low price that they can enhance later on.

Right now, there is a lot of great value in San Mateo County that's currently underutilized. We have clients from areas like Palo Alto and Redwood City who sold their homes for a high price and now want to live somewhere nice, close, and conducive to a relaxing lifestyle. When they come to us looking for such an area in San Mateo County, we recommend Coastside.

When the rest of the markets in our area heat up, Coastside is the last to catch fire. If you want the best bang for your buck, Coastside is the place to go. There are some great opportunities out here, and we want you to take advantage of them before it's too late.

If you're interested in the Coastside area, or have questions about anything real estate related, don't hesitate to reach out to us. We would love to help make your real estate dreams come true!

Is Solar Energy Right for You?

Alex@Lehrrealestate.com (Alex Lehr) — Mon, 13 Oct 2014 07:56:00 -0700

To solar or not to solar? That is the question. Right now, there is a huge push for solar energy and solar products in the marketplace. It is a great option for most homeowners, but what about those who don't see themselves living in their solar powered home for long?

The problem with homes that are solar powered, but not paid off in full, is that somebody is going to have to continue making those payments. How are you going to get a buyer to commit to paying an extra $30,000 or $40,000 and assume the payments?

What it comes down to is this: If you are going to be living in your home long-term, more than 10 years, it absolutely makes sense to invest in solar energy. On the flip side, if you don't plan on staying in your home for very long, just remember that when it's time to sell, it can create a little bit of a sticking point for the buyers if they don't want to take on the payments.

From an economic standpoint, investing in solar energy long-term is a smart move. But if you don't think you will be there very long, think about how you will pay for it and how you will sell your home with solar energy.

If you have any questions about solar energy or about real estate in general, give us a call or send us an email. We would love to help you out!

What do the Numbers Mean?

Alex@Lehrrealestate.com (Alex Lehr) — Wed, 17 Sep 2014 12:46:00 -0700

We want to talk to you today about 'the numbers'. You hear numbers being thrown out there all the time in our economy, but what do they really mean? In the real estate world, numbers are constantly being thrown out there, so we do our due diligence in analyzing the numbers so you can understand them better. So, here's some of those numbers and what they mean.

In San Mateo County right now, the affordability index, or how many people can afford to buy a home, is 12%. This may seem ridiculous given the high rate of employment in the area, but it's not all black and white. We are in an explosive boom of employment, and are feeling the curse of success, so to speak. So many people are employed and making money, it's harder to get a home because prices are being driven up. It's both a blessing and a curse.

Overall, the statewide market is very healthy, but still has plenty of room to grow. For the next couple of years, things will keep moving forward and growing. If you have any questions about the market or about real estate in general, give us a call. We'd be glad to answer your questions!

Increased Funding for Schools Important for Housing Market

Alex@Lehrrealestate.com (Alex Lehr) — Mon, 25 Aug 2014 13:26:00 -0700

Today we want to say thank you to Facebook. Why, you ask? Well, Facebook has just committed to spending millions of dollars on schools in the bay area. This is great news for us. If you want to follow the housing market, follow school scores. The better the school scores, the better the prices. People will spend more on a home in a great school district so they can ensure their kids have a great future and education. What winds up happening is when you start seeing dollars deployed in certain markets, it ultimately will wind up helping the school scores and translate to better real estate prices in the area.

Take note of where that money is going, and understand that it will serve as a precursor to where the real estate market will go as well. There are some great things on the horizon for schools in the area, and that will translate into better prices in real estate. If you live in those neighborhoods, you can get a good offer and prices won't be as competitive and you will be able to find a nice place on the peninsula for your new home.

If you have any questions, feel free to give us a call. We would love to answer them.

Work with the best agents the Bay Area has to offer

Alex@Lehrrealestate.com (Alex Lehr) — Tue, 22 Jul 2014 15:12:00 -0700

If you are looking for a complete real estate experience, we at Lehr Real Estate are the best in the Bay Area. We have so much to offer we are often mistaken for contractors - we go above and beyond to get homes ready for the market so clients can get the most value out of local conditions.

We know that every home is unique - that's why for each property we determine who the ideal buyer might be and promote it in that way. We were born into the industry, so we have the expertise necessary to help you get the best experience imaginable.

You can count on us to bring our best to every situation. As a family-owned agency, we understand the value of trust, loyalty, and dependability. Watch this short video to meet our team of dedicated friends and family and see how we work together to make your life a whole lot easier.

Utilizing Competitive Pricing to Drive Up your Sale Price

Alex@Lehrrealestate.com (Alex Lehr) — Tue, 6 May 2014 12:39:00 -0700

Utilizing Competitive Pricing
Today I wanted to approach a topic that a lot of my San Franciso clients have been asking about. A trend that I have been noticing lately is something that can be taken in two different ways.

I'm seeing price reductions: This isn't something that we have been seeing in the Bay Area. The market has been so hot that most people expect homes to sell for any price. However, this makes me wonder if the market is slowing down or if sellers just aren't listening to their agents.

What I am inclined to believe is that sellers are not taking the advice of agents and are failing to price their homes accurately and attractively.

If you start your property too high, the market will look at you as a greedy seller, and buyers will literally shun the property. From this point, the seller has to drastically reduce the price to even get attention back from the market.

If you price at or just a hair below where the last sales have taken place, you will actually be giving the market momentum to drive your price up into a new market value. The market won't let you sell too cheap, but it will let you overprice, so you want to avoid wearing the scarlet letter.

My advice is to look at the San Francisco market and look at how people are strategizing and pricing. Also, find an agent that can tell you if you're overpricing and who also has a good feel for the nuances of the market here in the Bay Area.

If you ever need any advice about how to price your home to sell for top dollar, please contact me. I would love to arrange a time for us to sit down and discuss these things. Consider me your #1 resource for real estate in the San Francisco area.

How My Team Functions To Bring You Better Service

Alex@Lehrrealestate.com (Alex Lehr) — Thu, 13 Mar 2014 12:53:00 -0700

There are many great San Carlos area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a list of Featured Properties so you know what buyers will pay for your home in today's market. You may also call me at (650) 595-5500 for a FREE home buying or selling consultation to answer any of your real estate questions.

Explaining Our Real Estate "Team"
I have been hearing a lot lately about real estate 'teams'. A lot of franchises will use it as part of their branding, but as far as the way they run their businesses, I'm not sure that it's an accurate term to describe the way they function. These realtors may meet with you in person during your first appointment, but they will likely hand you off to someone else after your initial meeting.

Here at Lehr Real Estate, our concept of team is pretty simple. As an agent, I am always your point of contact, and I am always in communication with my team. I'm going to briefly explain how we function for your success:

Listing Coordinator: This person makes sure all the correct documentation and photographs are prepared correctly to put the home on the market for a listing. All the variables in putting a home on the market are handled by this person.

Escrow Coordinator: When a property goes into Escrow, this person makes sure that all the paperwork is in order and all the documents are handled on time. They essentially make a calendar for the buyer to let them know what is taking place during this Escrow period.

Project Coordinator: When we have a home going on the market, this person makes sure that the contractors are showing up on time, the repairs are getting done, and that the home is garnering multiple offers from consumers so that you can get top dollar on your property.

My job as the realtor is to be out in the field marketing your home for you. I'm also looking to negotiate in your favor, so you can get a home at the lowest price possible. I am the liaison between you and the people working hard to sell your home, not the person you rarely see or hear from.

Something we have that most teams do not is a Grassroots Marketing Team. This is a group of three people that are literally walking around, knocking on doors, and trying to find buyers or sellers. They are responsible for generating buzz around all of our listings, whether they're being bought or sold.

Here at Lehr real estate in San Carlos, we utilize the tools that we have to serve our clients best, and those tools just happen to work best when in unison. We would be happy to help you with any and all of your real estate needs, so feel free to give me a call at (650) 766-5300 or shoot me an email at alex@lehrrealestate.com

The hazards of online home searches

Alex@Lehrrealestate.com (Alex Lehr) — Tue, 28 Jan 2014 11:21:00 -0800

There are many great San Carlos area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a list of Featured Properties so you know what buyers will pay for your home in today's market. You may also call me at (650) 595-5500 for a FREE home buying or selling consultation to answer any of your real estate questions.

I seem to get a lot of questions from clients about the data produced by Zillow, Trulia and other home search engines alike. While these sites can be a huge asset to your search, it's important to take their information with a grain of salt. These websites use algorithms that have specific variables such as square footage, number of bathrooms and number of bedrooms. So it’s important to have a realtor look at your home to ensure these numbers are completely correct. The last thing you want is incorrect information to negatively affect the buying or selling process.

Also keep in mind that these search engines do not know where the market is headed. Is the market neutral, on the rise, or is it in decline? This can significantly impact the value of your home. In fact, in one case Zillow reported a home being worth $1.5 million but it ended up selling for $2.9 million; Zillow was almost 50% off.

So call a realtor, Find out what's happening in the market and how it affects your home price. And always be sure to call me if you’re interested in buying or selling a home. Thank you for joining me today, I hope to hear from you soon!

A home's online presence will be it's first impression

Alex@Lehrrealestate.com (Alex Lehr) — Mon, 6 Jan 2014 09:11:00 -0800

In today’s market, ninety percent of buyers start their search online. That means before a buyer even visits your home they have probably made a decision on it. How do they come to this decision?

The photographs and price are the first things a buyer will see. Many buyers have a system set up to receive notifications when a new listing is put on the MLS. Your home is being blasted to people all over the country. How good is that first impression?

You want to have photographs that showcase your home and a price tag that is enticing to buyers. I always tell my sellers that the peak market point is 21 days. If your home doesn’t sell by then, many buyers will develop a mental stigma toward your home; they will wonder what is wrong with it. To counteract that stigma you will have to reduce your price significantly.

It’s important to do your homework before hand. Get a good agent. Hire a professional photographer and determine a fair and competitive asking price. These tips will give you the upper-hand, and ultimately make you more money.

If you have any questions, please give me call. Thanks for watching!

Happy Holidays and Thank You!

Alex@Lehrrealestate.com (Alex Lehr) — Fri, 13 Dec 2013 14:59:00 -0800

The holidays are approaching and with that comes the special time of year where we want to give thanks and show love to our family, friends and people who have helped us this past year. We hope that our family, clients and business partners feel the same way and offer thanks to the people who have made you the person you are today.

We want to wish you all a happy and safe holiday. Thank you!

New Lending Guidelines to Dodd-Frank

Alex@Lehrrealestate.com (Alex Lehr) — Wed, 4 Dec 2013 13:29:00 -0800

Today I want to talk about a topic that gets everybody listening: Money, Money, Money.

As we go into 2014, many will be asking themselves: what's going to happen in the marketplace, and what will be the drivers?

It's commonplace in today’s market for the government to factor heavily into that equation, and that's exactly what I want to talk about today. A new law called the Dodd-Frank Wall Street Reform and Consumer Act is kicking in at the beginning of next year that will change the lending guidelines for all of the country. This law will have the most effect on those in lower income brackets, because it directly effects borrowing power. Under the new guidelines, borrowing power based on monthly income will decrease by 7% from 50% to 43%.

This will cause house prices to soften as sellers adjust the limitations in borrowing put on the potential buyers.

Will this 7% decrease in borrowing power create a catastrophe in the housing market? Not likely, but what we will see is increased pressure on lenders. And pressure on lenders, coupled with a decrease in borrowing power, means that in addition to housing prices going up, interest rates will increase as well.

If you have any questions relating to your property or the future of the housing market, don't hesitate to call me at (650) 766 - 5300.

Thanks, and have a great day.

Properly Pricing Your Home

Alex@Lehrrealestate.com (Alex Lehr) — Wed, 20 Nov 2013 08:20:00 -0800

Welcome back to my video blog. We have had a phenomenal 2013. Both buyers and sellers have had great opportunities to take advantage of the market. As the New Year draws nearer, a lot of people have asked me how our market is.

We still have a fantastic market, but I have noticed a trend of dropping prices. So what does this mean? Is the market really slowing down or are sellers not listening to their agents and overpricing their home?

If I had to guess, I believe most sellers aren’t listening to their agents. Pricing your home properly is one of the most important elements of selling your home quickly and for the good price.

While we do have a strong market, that doesn’t mean you can price your home at whatever price you choose. I frequently get asked by sellers if they can start out high and adjust the price if it doesn’t sell. Well, you could, but chances are you will end up selling your home for less than if you had just priced properly in the first place.

Why? If you price your home too high, buyers look at you as a greedy seller and most of the time they completely shun your home. In order to reenergize the market toward your home, you have to significantly drop the price of your home.

Don’t overprice. Listen to your realtor. If you need help determining what the best price for your home is, please give me a call.

Thanks for watching!

3 Tips to Make a Good Offer

Alex@Lehrrealestate.com (Alex Lehr) — Thu, 24 Oct 2013 10:05:00 -0700

Welcome back to my video blog! Today, I wanted to touch on the subject of making offers. I’ve heard some buyers say they’ve made almost 20 offers, but haven’t got a home yet.

Why is this? When you make an offer there are a lot of things to consider.
The first thing is to have an aggressive realtor. When I construct an offer, I find out when the sellers are looking at offers and whether they would take a preemptive offer. Sometimes sellers will take an early offer if the terms are good.

The second thing to do is check out the market. Look at how many homes have sold in the area recently and how many offers did they have. Let’s also look at the sales versus list ratio.

The final thing to consider is the other terms of an offer. How big of a down payment are you making? What is the length of escrow? Sometimes allowing a seller to remain in their home for an extra 30 days is all they need to accept your offer.

Keep these three things in mind when you find a home you like. If you have any questions about strategy for you home, please give me a call; I’d love to help!

Home Selling Preppers

Alex@Lehrrealestate.com (Alex Lehr) — Thu, 10 Oct 2013 13:51:00 -0700

Welcome back! I’m sure you’ve heard about or seen those shows about preparing your home for the end of the world or the zombie apocalypse. What about a show on how to prepare your home to sell?

Did you know that 90 percent of buyers start their search online? It’s like online dating for your home!

It’s so important, then, that your home looks perfect. Take the clutter off the counter and put a fresh coat of paint on. Make the home look spacious and hire a professional photographer to best showcase your home.

If you don’t put your best foot forward, chances are you will get very few showings. Get your buyers excited to visit your property!

Thanks for watching! If you have any questions, please give me a call! I’d love to help you prepare your home for the market!

Is Fall a Good Time to Sell?

Alex@Lehrrealestate.com (Alex Lehr) — Wed, 2 Oct 2013 10:57:00 -0700

Welcome back to my video blog. A lot of people have asked me whether the fall is a good time to sell. Have they missed the market?

Timing and location are important when selling your home. The good news is because of low interest rates, buyers are still interested and motivated. Plus, there are some great properties out there.

If you want to sell, now until the end of October is a great time. Even if you need to sell into November, there will still be buyers who need to move!

So if you are thinking about buying or selling, please give me a call. Let's get your home on the market!

What to Ask Before Hiring an Agent to Sell Your Property

Alex@Lehrrealestate.com (Alex Lehr) — Wed, 19 Jun 2013 14:50:00 -0700

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One of the most common things we hear as top-producing real estate agents is about how homeowners had neglected to properly interview the agent they had for their home. To help avoid that from happening, here are some factors to consider before you hire a real estate agent to sell your home.

Amount of Time Devoted to Profession

The real estate industry is one that can be very flexible for some yet completely encompassing for others. Your challenge will be to look for an agent that has made the profession their full-time career. The difference will be in the amount of time you can expect them to give you and the expertise level you can expect in return.

Level of Demonstrated Expertise

Experience comes from working with multiple clients in many different situations. As you interview prospective agents, take the time to inquire about past and current clients. Find out about the types of deals the agent specializes in. Are they specifically geared toward buyers or do they have experience with listing transactions? Don’t be afraid to check whether they are good at their job through references.

Length of Time Other Listings Remain on Market

Look into the length of time other listings they have taken have remained on the market. If you see a predominantly long number of days their properties sit on the market then it might indicate a lax marketing strategy – or worse, none at all. Marketing is a key component that you should be looking for and if a prospective agent lacks a viable marketing plan, you may want to think twice about that agent.

List to Sale Ratios

A lot of agents use less than scrupulous tactics to gain sellers’ business. One example is promising their clients higher selling prices only to disappoint their clients when the market dictates their home is worth less. Look for an agent’s list-to-sale ratios on other listings they have had. Are they being sold at or at least very close to the listing price? If not, it could be an indication of bad pricing advice or worse, evidence of those sneaky tactics to reel in business.

Keep in mind that these are just a few of the things that impact the success rate of a strong real estate agent. What you need also to be looking for is a winning combination of character, values, tech-savvy and market-smart techniques. No two attributes will be enough – rather it is essential that you feel comfortable with your agent, can trust them and are fairly certain that they deliver on their promises.

Buyer Dynamics Are Changing How We Buy Homes

Alex@Lehrrealestate.com (Alex Lehr) — Thu, 14 Mar 2013 08:56:00 -0700

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In the past, there have traditionally been two types of buyers for the most part -- the end user and the investor. Fairly straightforward, end users typically were in the market to occupy the home as their primary residence while investors would most likely seek to rent the home. Today, we have new dynamics when it comes to buyers. There are the end users, builders, flippers and hedge funds buying homes. Here’s a quick look at each.

End Users

These are buyers in the traditional sense of the word and they are seeking a home to move into that will end up being their homestead. Buyers in this category are most influenced by location and condition of the home, fueling demand for certain types of homes and ultimately driving prices in some locales more so than others.

Builders

Builders tend to buy homes with the intent to tear down the existing structure and then rebuild a much more expensive house on the lot. These types of buyers will come by and often buy additional lots on and around the property and they offer homeowners at or more than asking price.

Flippers

Primarily the amateur or small-sized investor, this type of buyer seeks low-priced homes with the idea that with some renovations they can turn around and resell the house for a significant profit. This type of buyer was especially prevalent in the years immediately following the housing market crash in 2007. As time goes on, however, they are accepting a shorter and shorter margin for profit.

Hedge Fund / Wall Street

This is one type of buyer that is relatively new to the scene. Larger scale investors that are buying blocks of properties and then holding on to them do so with the intention to keep them as rental homes or ultimately put them into REITs.

As a result of these changing dynamics on the buying side of real estate, we are seeing a lot more inventory tied up that might normally have been available for end users. The result is a decreased supply with a constant stream of demand – ending up in prices getting pushed up.

In the midst of all this, it is critical to have an agent that understands how to properly structure an offer. The last thing you want to happen is for you to lose the home because of less than perfect representation. You need someone that truly understands the dynamics of our buyers’ market and how to leverage your position. There are other terms that can be added to your purchase agreement to make it more favorable for you.

If you are in the market for a new home, contact us today for a custom consultation on your needs and we will get to work finding and getting you the perfect home.

Strap Yourself in for the 2013 Market

Alex@Lehrrealestate.com (Alex Lehr) — Thu, 28 Feb 2013 14:33:00 -0800

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What’s driving the real estate market? People are asking this question. I recently sold a property for more than $500,000, which was 50% above its list price! Three drivers are affecting the market: interest rates are great, demand is increasing, and inventory is shrinking. Here’s what this means to you.

First, low interest rates are fueling the market and the economy. The mortgage loan rates are still fantastic, which makes buying a home more affordable than ever. A 30-year fixed-rate mortgage hovered at record-low rates during 2012. If you wait and interest rates rise, you could get locked into spending a few hundred extra dollars a month on your payment.

Second, there’s also lots of demand. In the Bay Area, we have high tech, biotech and financial services from banking to venture capital companies. People moving in from overseas to fill positions in these fields have fueled the demand. So when a home that you’re interested in hits the market, plan to see it as soon as possible and make the best possible offer that’s at an appropriate price point for the seller. Remember, there’s a lot of demand. If you hesitate, the property could be gone tomorrow because others will be making offers.

Third, supply is drying up. If we look at what’s happening in the REO sector—the foreclosures are decreasing. Short sales are dropping as well. Those in the conventional market are getting great rates, so they don’t want to move. With the supply dropping and demand increasing coupled with favorable interest rates makes it a great time to sell. After all, what you get for your home often comes down to supply and demand.

It’s a wild market with lots of positive signs. Give me a call so I can tell you where to be positioned and how to be successful in this market. Please contact me at (650) 766-5300. We’d be happy to assist you.

Selecting the Right Real Estate Agent

Alex@Lehrrealestate.com (Alex Lehr) — Wed, 5 Dec 2012 14:48:00 -0800

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All real estate agents are not created equal. They may have access to the same systems, the same information and market data, similar industry tools used across the board and universal access to government agencies that house important data that may be relevant in helping you sell your home. So what sets apart the successful ones from the bad apples? It is how they use the things that are at their disposal – that is what makes all the difference.

Now, unless you are completely well versed in the process of home selling and real estate, chances are you may not know all the ins and outs of these tools. So how can you measure the success rate of potential agents you may or may not want to work with? The answer lies in three important metrics that you can easily employ to help you make that decision.

How Much of Your Work Day Do You Dedicate to the Real Estate Industry?

You want an agent that is 100% committed to their job and if they are focusing more on a day job with real estate being a secondary thing, you run the risk of inaccessibility, lack of knowledge and experience plus lackluster motivation. Find out how they feel about the real estate industry and whether they are passionate about their work.

What is Their Area of Expertise?

Many times you could have an agent who is a specialist in foreclosures or short sales. They may work with equity sales or something completely different; the point is to make sure that they understand your needs and are able to fulfill them.

How Many Days on Average Does It Take You To Sell a Home?

What’s the average number of days on the market for properties listed by your prospective agent? Since this statistic can reach as high as six to nine months and in some cases and as much as a year, it is important to ask how your prospective agent ranks on the scale.

How Close Do You Get in Sale Price Related to Asking Price?

It is important to ask for this information as it relates to the past 60 days. Given that many agents are not that active in the market, you would be best served to obtain the most recent information possible. As a seller, your agent’s ability to come close to the asking price is a strong attribute and can mean a difference of thousands of dollars in your transaction.

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At the end of the day, the goal is that you sell your property and sell it well. Selling it well can translate to a higher price, more efficiently managed procedures, smoother and streamlined process, and an overall quicker turn around time. By following the suggestions in this article, you will be able to discern the best agent in your area to handle your specific needs. Half the battle of selling your home is in choosing the right agent to help you achieve your goal.