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I've spent the past several weeks driving back and forth to Sonoma to assist my older sister, Diana, in navigating our mother's final stages of life. Suffering from acute COPD and degenerative heart disease, the goal was to make sure she stayed comfortable until the bitter end. (Kids, don't smoke!)
In a coordinated effort that took my sisters, skilled doctors, empathetic nurses, a respiratory specialist, and experienced hospice care, Ellen passed peacefully, in her sleep, last Saturday, in the wee hours.
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"We're shopping for Realtors," the woman said, "and my husband and I would like to speak with you and Sarah about representing us." (Thank you, we appreciate that.)
"Tell me a little bit about your house," I said, "your timeline, its condition, how long you've lived there, and most importantly, your expectations. Once we meet and see the home, we'll refine the process." "We bought in 2000," she said, "and we've loved living here, but it's time to move on." Then she added, "We've done our best to take good care of it, but, admittedly, the house is a little 'lived in'." What's the dress code for the wedding?" I asked my friend (who also happens to be the mother of the groom), expecting her to say, "It's casual."
After all, the event is taking place in Guadalajara, Mexico, and I assumed it would be easy and breezy, like the last wedding we attended just a few short weeks ago much closer to home. Truth be told, I was planning on wearing the exact same dress. "It's formal, but you can wear something mid-length if you don't have a floor-length gown," my friend assured me. (I don't have either.) “If your client would go up another $150,000, I think I can get the Seller to sign the agreement," the listing Agent said.
"No doubt," I agreed (We'd gone back and forth for a few days without reaching a meeting of the minds.) "but why should the Buyer bid against himself when there are no other offers at the table?" “Were you able to get any more information from the selling Agent?” the client nervously asked, phoning long distance from her meditative retreat. (This was supposed to be a restful outing for her. It wasn't turning out that way.) “The lack of communication has me wondering if there are very few offers coming in, and we're being played.” (That's a distinct possibility, but leveraging the interest - or lack thereof - IS a listing Agent's job.)
On the other hand, I’ve had Buyers decide not to write because they feared that heavy competition would push the house much further than they were prepared to pay . . . and suddenly, the Sellers are left empty-handed. In other words, there are legitimate reasons a listing Agent holds back such information, as frustrating as that can be for those of us on the buy side. The fall market is upon us, which means we'll have one strong, final push before the holidays descend and the market grows quiet. With families now home from their fun-filled vacations and school firmly back in session, the fall market, like the spring market, can bring some outstanding results.
However, not all homes are created equal. Condition, location, interest rates, and demand are the driving forces with respect to property values, and while Sellers don't necessarily control the interest rates or the demand a listing receives, they have a lot to say when it comes to the condition of a property. While some people are meticulous about their homes, others have ignored them for years, if not decades, and undoubtedly, they will pay a price come time to sell. It's been 10 years since Jill came to work for me, overseeing countless projects that amounted to untold hours of toil and dedication. During that time, she's coordinated teams of vendors, remodeled kitchens and bathrooms, overhauled gardens and yards, became far too familiar with Home Depot, and most importantly, employed creative solutions at a moment's notice. No matter what I've asked of her, she's risen to the task. In short, she's proven to be invaluable. So when Sarah and I joined forces at COMPASS six years ago, Jill accompanied me as part of the package deal. For better or worse, we travel as a pair. (Just ask my husband.)
“The biggest mistake I ever made was giving up my low tax base,” the woman said, as she walked through the Open House on Sunday. “I already used my transfer when I sold my Berkeley home last year, and moved to Jack London Square, but I miss having a house, and this one would be perfect.”
“Well, I said, I’m not a CPA (nor does my license qualify me to give tax advice), but I'm fairly certain you can now carry your tax base with you more than once.” My new neighbor has a team of men working from sunrise to sunset on his front garden across the street and it's transforming his property into a wonderland. What was once an overgrown "fixer" on a massive scale is steadily turning into one of the nicest homes on the block. Bought last year by a talented young contractor and his lovely wife, it was originally conceived as a "flip" project, but I'm delighted to report that they decided to keep the home for their growing family (they just had baby number three). Suffice it to say that I couldn't be more pleased to welcome them to the neighborhood. Any improvements they make to their property only serve to increase the value of mine!
To say the garden was overgrown is an understatement to be sure . . . I'm doing something I rarely do where The Perspective is concerned, but earlier this week I had a few enlightening conversations that I thought were worth passing along. . . . so instead of starting from scratch, I've repurposed my email (with permission, of course) for your consideration.
The first topic comes from a colleague I admire tremendously. Alison Teeman, of Yovino Young, who is my "go-to person" for appraisals. Whether for purposes of a sale, a refinance, construction, or a reassessment of a property value upon death or divorce, Alison knows her business like nobody else. So when she brought up the concept of "super-adequacy" (a term I'd never heard before), I asked for more clarity. |
AuthorJulie Gardner, has been writing The Perspective for 19 years and has published more than 850 humorous but always informative, essays on life and real estate. 
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